Full text of Commercial and Financial Chronicle : January 19, 1907, Vol. 84, No. 2169 : Alternate copy, January 19, 1907

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T

V

i

INCLUDING

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

State and City Section (semi-Annuai??'
Street Railway Section

E n t e r e d a o o o r d i n g t o A c t o f C o n g r e s s , I n t h e y e a r 1 9 0 7 , b y W i l l i a m B . D a n a C o m p a n y in t h e o fflo e o f L i b r a r i a n o r C o n g r e s s , W a s h i n g t o n , D .C
A w eekly n ew spaper en te re d at P o s t Office, N ew Y o rk , as se co n d -cla ss m atter—W i l l i a m B. D AN A C o m p a n y , Publishers, 7 6 ^ P in e St., N. T .

SATURDAY,

VOL. 84.
3

Thc

JAN U ARY

1907.

PUBLISHED W EEKLY.

Terras of Subscription— Payable in Advance
F o r O ne Y e a r ..................................................................................................... . . . . $ 1 0 00
F o r S ix M o n t h s ...........................................................................................................
G 00
E u rop ea n S u b s cr ip tio n (in c lu d in g p o s t a g e ) .................................................. 13 00
E u rop ea n S u b s crip tio n s ix m o n th s (in clu d in g p o s ta g e )..........................
7 50
A n n u a l S u b s cr ip tio n in L o n d o n (in c lu d in g p: s t a g e )................................£ 2 1 4 s .
S ix M o n th s S u b s cr ip tio n in L o n d o n (in c lu d in g p o s t a g e )........................ £ 1 11 s.
S u b s cr ip tio n in c lu d e s f o ll o w i n g S u p p lem e n ts —
B \nk a n d Q u o t a t i o n (m o n th ly )
I S t a t e a n d C i t y (se m i-a n n u a lly )
K a i l w a y a n d I n d u s t r i a l (q u a r te r ly ) |s t k e e x B a i l w a y (3 tim e s y e a rly )

Terms of Advertising— Per Inch Space
T r a n s ie n t m a tte r p e r in c h s p a ce (1 4 a g a te lin e s ) ...........................................
( T w o M on th s
(S tim e s )................................
J T h re e M o n th s (13 t im e s )................................
S ta n d in g B u sin e ss c a .as -f s i x M o n th s
(2t5 tim e s )................................
. T w e lv e M o n th s (5 2 tim e s )................................

$4
22
29
50
87

20
00
00
00
00

C H IC A G O O F F I C E —P. lkiar*lett,513 M o n a d n o ck B lo c k ; T eL H a r ris o n 4012.
L O N D O N O F F I C E —E d w o ru s & S m ith , 1 D ra p ers’ G a rd en s, E . C.

W I L L I A M JB. D A N A C O M P A N Y . P u b l l s l i e r s ,
Pine Street, Corner o f Pearl Street,
Post Office Box 9 5 8 .
NEW Y O R K .

CLEARING HOUSE RETURNS.
The following table, made up by telegraph, &c., indicates
that the total bank clearings of all the clearing houses of
the United States for the week ending to-day have been
$3,588,794,551, against §3,454,758,279 last week and
$3,751,979,732 the corresponding week last year.

Total all cities, 5 days________________
All cities, 1 day
....... .................
Total all cities for week_____________

Per
Cent.

1907.

1906.

S I,828.621,307
199,656,201
124,457,769
25,103,766
201,210 340
59.410,667
22.040,714

$2,223,839,431
165,780,490
135,429.309
27,796,362
187,378,599
57,621,055
21,427,985

— 17.8
+ 20.4
— 8 .1
— 9.7
4-7-4
+ 3.1
+ 2.9

82.560,500,764
432.018.971

$2,819,273,231
376,018.947

— 9.2
+ 14.9

$2,992,519,735
596,274,816

S3,195.292.178
556,687.554

— 6.3
+ 7.1

S3,588,794,551

$3,751,979,732

— 4.4

The full details for the week covered by the above will be
given next Saturday. We cannot furnish them to-day,
clearings being made up by the clearing houses at noon on
Saturday, and hence in the above the last day of the week
has to be in all cases estimated, as we go to press Friday night.
We present below our usual detailed figures for the previous
week, covering the returns for the period ending with Satur­
day noon, January 12, and the results for the corresponding
week in 1906, 1905 and 1904 are also given. Contrasted with
the week of 1906 the total for the whole country shows
a loss of 8 .3 % . Outside of New York the increase over
1906 is 5 .0 % .
Week ending January 12.

Clearings at—
1907.
New Y o r k ______
Philadelphia____
Pittsburgh______
B a ltim ore______
Buffalo__________
W a sh in g to n ____
A lb a n y_________
Rochester _
S cra n ton _______
Syracuse
W ilm ington
Beading
Wilkes-Barre
W heeling
C h e s te r ____
B in gh am ton____
E r i e ......................
G reensburg_____
F r a n k lin _______

1906.

Inc. or
D ec.

1905.

1904.

S
S
$
S
%
2.223.955.20S 2,594,337.802 — 14.3 1.776.528.682 1,311,240,347
146,916 994
156,876.804
128,951.614
119,797,192
— 6.3
64,515,886
54.916.004
37,891,842
— 0.7
44,228,371
31.171,346
30,851.900
+ 1.0
25,281,333
25,573,409
8.859,319
7,835,927 + 13.1
6.405,160
7.163.933
6.779.436
6,483.939
+ 4.6
4.963.416
4,558,225
7,674.127
5.645,548 + 35.9
4.357.102
3.895.175
4,173.040
3,799,561
— 9.0
3,410.736
3.504,409
1,999,175 + 17.7
2.353,230
1,634,165
1,860,796
1 ,875.40S + 10 .8
2,077.474
1,482,042
1,535,912
1.350,294
1.422,566
+ 5.3
1,291,553
1,370,128
1.231,026 + 2 1 .9
1.500.000
937,139
1.133,633
1,079,403 + 28.4
1,386,388
983,660
1,095,041
951.130
+ 8.5
1,031,656
686,026
746.651
714.215 — 20.3
539,121
461.471
506.063
624,100
+ 0.9
630,000
525.900
587,600
602,573 + 13.5
465.537
683,971
518.439
455,018 + 2 2.0
443,167
554.961
394.583
315.773
— 3.0
314,967
243.377
276,447

Total M id d le.. 2,496.166,220 2,872,319,0S5




— 13.i;2.005,296,229 1,521,634,857

B o s t o n ________
P ro v id e n c e _____
Hartford .
New H aven____
Springfield______
Portland . . ____
W o rce ste r______
Fall R i v e r _____
New. Bedford____
L o w e ll__________
H olvoke________
Total New Eng.
C h ica g o ________
Cincinnati______
Cleveland
.
Detroit . _____
M ilw a u k e e _____
Indianapolis
C o lu m b u s______
T o le d o __________
P e o r ia __________
Grand Rapids___
D a y t o n ________
E v a n s v ille _____
K a la m a zo o _____
Fort W a y n e ____
Springfield. Ill
Lexington ______
Y o u n gsto w n ____
Akron __ _____
South Bend_____
Rockford _____
B lo o m in g to n __
Q u in c y ________
Springfield, O
Canton ____
M a n sfie ld ______
Decatur .............
Jacksonville, 111.
Jackson _______
Ann A rbor______
T ot. M id.W est.
San Francisco___
Los Angeles_____
Seattle ________
Salt Lake City___
P o r tla n d ______
Spokane________
T a co m a ________
Helena ________
Fargo . _ ______
Sioux Falls_____
O akland-.
San Jose_________
Total P acific. .
Kansas C i t y ____
Minneapolis_____
O m a h a ________
St. Paul________
D enver..............
St. Joseph______
D esM oines_____
Sioux City______
W ic h it a .. _____
D avenport______
Topeka ________
Colorado Springs
Cedar R apids__
P u e b l o ................
F r e m o n t_______
Lincoln ____ ___
T ot. oth.W est.
St. L o u i s ______
New Orleans____
L o u is v ille ______
H o u s t o n ____
G a lv e sto n ______
R i c h m o n d __ __
M em phis_______
Nashville ______
Savannah ______
Fort W orth_____
N o rfo lk ________
A u g u s t a _______
Birm ingham ____
Charleston ____
C h a tta n o o g a ___
Jack son v ille____
K n o x v ille ______
M o b ile __________
Lit.te R o c k _____
M a c o n ___ ____
Columbus, Ga__ _
Total Southern
Total all___
Outside N . Y . .
Canada—
M ontreal_______
Toronto _______
W innipeg
____
Halifax
Ottawa .
Q uebec__________
V a n c o u v e r .____
H am ilton_______
St. John......... ..
London ________
Victoria . .
C a lg a ry________
E dm on ton__
Total Canada.

1907.

NO. 2169.
W eek ending January 12.

Clearings at—

(fh r o m d e .

Clearinys— Returns by Telegraph.
Week ending January 19.

19,

1906.

Inc. or
D ec.

1905.

1

1904.

s
S
$
8
%
187.418.684 + 10 .2
152,861,191
206,504,566
138,914,091
8.875.30C
8,226,00(
9 ,011,10C
+ 1.5
9,016,000
3,997,318 + 20.3
3,487,838
4,824,158
2,667,043
2,670,365 + 10 .8
2,490,538
2,052,241
2,957,460
2,204,208
1,630,335
1,412,337
2,114,262
— 4.1
1,613,772
1,614,403
1,985,168
2,172,527
— 8.6
1,177,324
1,633,952
1,490,80-;
1,623,004
+ 0.7
638,512
1,236,742
1,172,454
1,030,947 + 13.8
771,213
888,727
753,408 + 17.E
035,405
663,030 — 13.C
545,64;
499,546
577,783
547,359
527,145
623,215
460,367 j + 3 5 .4
232,292,846 211,869,162 [ + 9 .6
174,168,197
159.888,085
230.301,722 239.703,965
— 3.9
189,516,293
180,110,007
27,864,700 + 1 5 .6
26,266.45C
32,206,150
26,000,000
15,722,903 + 1 8 .6
15,357,994
18,643,876
14,453,381
12,856,068
+ 7.3
13,795,443
11,847,025
10,586,107
10,480,259; + 1 3 .8
9,135,714
8,779,869
11.929.35C
9,827.522
8.054,788 + 2 2 .0
6,731,808
6,420,341
6.127.60C
+ 0 .8
3,926,600
6,179,10C
4,983.60C
3,332,039
3,933,938
4.184.99C
4,774,785 — 12.4
2,978,034
3,027,638
3,542.865 — 12 .6
3,096,568
+ 6.7
2.038,817
2,303,158
2,546,90S
2,717,811
2,174,258 + 18.4
1,977,073
2,228,488
2,573,506
1,591,917
1,484,437
1,634,108 + 31.6
2.151,425
+ 0.3
1,015,296
838,246
1,166,866
1,163,184
938,667
993.777
— 5.5
+ 9.6
849,657
893.527
751,338
979,684
687.396
859,452
761,282 + 12.9
627,016
705,862 + 14.2
610,294
805,692
478,548
663,100 + 16.7
625,000
745,000
773,884
590,396
— 0.0
590,327
552,082 + 14.9
488,354
634,494
482,505
551,212 — 18.7
448,730
386,668
400,178
+ 8.9
348,822
525,645
482,638
344,648
409,310
490,343
456,654 + 17.9
538,811
436,870 + 21.4
685,998
530,544
521,065
410,286 — 1 1 .0
170,720
218,767
365,062
+ 6 .1
287,279
266,516
374,500
397,280
262,061
328,416 — 14.4
262,555
280,978
—
r,
r
271,862
215,406
321,190
300.000
142,750
146,799
145.003
1 4.3
139.016
283,776,702
269,534,424
347,888,582 345,307.197
-t-0.7
33,388,002
32,140,815
41.768,634
43,901,199
+ 5.1
8,049,565
7,727,595
10,660,639 + 16.6
12,425,160
4,967,820
4,472,629
7,914,0S1 + 16.3
9,204,398
+ 0.8
4,524,107
3,632,253
7,700,170
7,764.016
4,891,329 + 34.9
4,078,304
3,508,591
6,600 000
4,080,888 + 34.9
2,781,228
2,230,843
5,503,909
2,244,966
3,703,527 + 29.7
3,043.337
4,804,377
870,061 + 1 1 .0
917,627
708.635
965,955
695,298
— 6.7
795,911
611,420
648,869
297,007
413,6S0 + 23.7
511,791
218,597
3,883,929 N ot included in total
300.000 N ot included in total
57.783,746
92,329,674
62,555,506
82,698,307 + 1 1 .6
23,486,976
22,013,163
33,158,271
26,131,249 + 26.9
16,912,394
15,263,822
19,530,808
20,538,827
— 4.8
8,820,812
7,900,178
10,469,838
8,835,936 + 18.5
5,380,279
6,363,167
8,815,168
7.311,986 + 20.6
8,314,000
4,412,834
7,448,636 + 30.9
9.748,860
4,836,406
5,260,813 + 10 .2
4,893,578
5,800,000
2,945,222
2,266,341
+ 7.7
2,521,965
3.171.086
2.269.S38
1,928,318 + 17.7
1,774,167
1,407,877
1,123,386 + 13.3
1,272,972
1,228,644
1,229,705
889,252
1,052,696
+ 6.2
840,807
1,117,501
1,111,282
1,190,528
1,077,411
913,203 + 18.0
639,409
704,519
838,522 — 16.0
601,602
658,970
450,682
470,600
623,358
+ 5.7
_______
399,410
600.000
+ 5.9
511,909
185,399
405,709!
279,938 + 44.9
200,825
1,210.390;N ot included in total
75,841,012
70,608,101
85,853,999
98,800,951
+ 15.1
61,424,155
55,468,227
65,585.144
+ 3 .9
68,160,965
28,610.042
+ 5.6
23,499,595
25,601,620
24,254,453
12,628,512
11,779,276
14,020,368
+ 6.5
14,938,109
9,875,382
10,931,444 + 30.5
7,804,150
14,263,956
5,081,000
6,006,500 + 46.2
6,785,500
8,783.000
5,550,182
7,165,047
5,723,409
+ 0.6
7,207,834
6,442,668
6,610,708
— 2.9
6,035,151
6,417.781
3.816,772
3,769,809
5,316,454 + 26.3
6,712,276
3.057,033
4,653,802 + 13.9
3,314,481
5,300,000
3,732,138
4,344.623 + 19.7
3,858,541
5,201,679
1,883,272
3,041,284 + 57.2
2,242,160
4,781.058
1,893,470
1,715,595
2,522,648 + 15.4
2,931.125
1,654,108
1,849,173
— 16
2.252,681
2.210.156
1.628,009
1.468.577
2,044.964 + 18.6
2,424,610
1.349,369
1,533,506
+ 6.8
1,807,375
1,692.455
929,976
865,996
1,558.058
+ 7.8
1,679,751
7S5.108
1,439,717
1,760.564
1,503,010 + 17.1
1,423,166
1.154,918
1,459,244 + 2 5 .9
1.838.330
_______
2,204.710
1,305,111 + 68.8
1,476,511
1,829.107
1,248,275 + 46.5
1,039,170
1,146,000
658.684 + 22.9
810.000
512,294
_______
— 7.7
211.961
410.00;)
444,138
148,350,808
187.280.U06
149,010,271
168,019,095 + 1 1 . 1
3,454,758,279 3,766,666.845
— 8.3 2,750,647,917 2,227.800,021
1.230.803,071 1.172,329.043
+ 5.0 974,119,235 916.559,674
32,379,028
30.34S.042
+ 6.7
29,570.344
25,909,798 + 14.1
12,295.123
9,589.670 + 28.2
2,350.000
— 4.4
2,458,006
3,240,236
2,336,260 + 38.7
2,027,529
1,970,026
+ 2.9
3.757.418
2,017,880 + 86.2
1,669,369
1.394,867 + 19.7
+
13.8
1,555.268
1,367,402
1.442,922
1,079,647 + 33.6
1,013.092
— 5.1
1,067,731
1,400,000 N ot Included n total
700.000 N ot Included n total
92,300.329
79,539,329 + 16.0

23,524,040
20,937,232
7,066,845
1,880,929
1,965,348
1,398,675
1,473,284
1,220,712
1,178,205
1.039,352
998,984

19,806,007
16,227,837
5,219,196
1.722,737
2,414.105
1.378,596
1,202,892
1,090.736
877,351
820,827
710,380

62,684,606

51,471,334

XXII

Vol. lxxxiy.}

THE CHRONICLE.

C o tta u .

IJ iiia n c ia l.

W OODW ARD
GRANGER
& STILLMAN, F .VERSZ £ COMPANY
FARWELL
C O T T O N M ERC HAN TS
37 P IN E ST.
& COMPANY,
16 to 22 WILLIAM STREET, 2 2 0 L A SA L L E ST.
R A N K E R S

NEW YORK.
E G Y P T IA N A N D A M E R IC A N COTTON O F A L L
G R A D E S S U IT A B L E TO W A N T S O F SP IN N ER S.

NEW YORK

CHICAGO

BANKERS AND BROKERS,

RAILROAD BONDS

E s t a b l i s h e d i n 1856.

Henry Hentz & Co., CHICAGOCITYMORTGAGES.
COMMISSION MERCHANTS,
16 to 22 W illia m Street, New Y o r k .
HIGH-GRADEINDUSTRIALBONDS.
E x e c u te O rd ers f o r F u t u r e D e liv e r y
CHICAGOREAL ESTATEBONDS.
CORPORATION I RAILROADBONDS.

COTTON
A t t h e N ew Y ork, L iv e rp o o l and N ew O rleans
C otton E xch anges. A ls o ord ers fo r
COFFEE
A t th e N ew Y ork Ootlee E x ch an ge
G R A IN A N D P R O V IS IO N S
a t th e C h ica g o Board o f T rad e and
G R A I N A N D C O T T O N -S E E D O I L
A t tn e iNew Y ork P ro d u ce E x ch a n g e

Hubbard Bros. & Co.,

71 B roadw ay

CHICAGO.

NEW YORK.

N e w Y o r k St;ock E x c h a n g e .
N e w Y o r k Coffee E x c h a n g e .
St ock E x c h a n g e .
Ch ic a g o B o a r d of T r a d e .

Members -J Ch ic a g o

DEALERS IN

SEND FOR CIRCULARS.

PEABODY, HOUGHTEIING &

00

.

INVESTMENT

SECURITIES.

2 3 0 First National Bank Bldg.,

C O F F E E E X C H A N G E B U IL D IN G ,
H AN O VER SQUARE,

226 La Salle S t,

C H ICA G O .
(.E s t a b l i s h e d

i

NEW YORK.

COTTON

M ERCHANTS.

L ib e r a l A d v a n c e s M a d e on C o tto n
C o n s ig n m e n t s .

Hopkins, Dwight & Co.,
COTTON,
and
C O T T O N -S E E D O I L .

Edwin L. Lobdell <§6 Co.,
BANKERS AND BROKERS,

R o tu n d a , R o ok ery B ld g ., Chicago.
80 B ro a d w a y , New Y o r k .
CNew Y o r k Stock E x ch an ge,
M em bers -! C h icago Stock E x ch an ge,
( C h icago Board o f Trade.

COMMISSION M ERCHANTS.

Bishop, Laimbeer & Co.

R o o m 5 2 , C o t t o n E x c h a n g e - B u i l d in g ,
N EW Y O R K .

M em bers N ew Y o rk S tock E x ch an ge.

L e h m a n , St e r n & C o. L im ite d . N ew O rleans, L a.

Mills Building:. ■ 15 Broad St,

LEHMAN BROS.,

(C o tto n .

Nos. 1 6 -2 2 W illia m Street, New Y o rk .
Members of the Stock, Cotton, Coflee
and Produce Exchanges, New lo r k .

IN M A N & CO.,

O rders e x e cu te d o n t h e a b o v e E x ch a n ge s, as w ell in
N ew Orleans, C h icago and fo re ig n m arkets.

C o tto n M e rch a n ts,

Siegfr. Gruner & Co.,
COTTON M E K C H A N T S
17 South William Street,
NEW YORK.

Mason Smith & Co.,
COTTON COMMISSION MERCHANTS,
NEW

ORLEAN S, LA .

M E M P H IS , TEN N .

DALLAS, TEX.

B uyers o f Spot Cotton. O rders f o r C on tracts E x e­
cu ted tn th e N ew Orleans, N ew York,
L iv erp ool and H a v re M arkets.

W IL L IA M RAY & CO.,
SUCCESSORS TO

GEO. COPELAND & CO.,
COTTON B R O K E R S ,
4 3 Cotton Exchange,
New York.
O rders fo r fu tu re deliv ery co n tra cts e x e c u te d on
t h e N ew Y ork and L iv e rp o o l C otton Exch anges.

R. H. ROUNTREE & CO.,
Commission Merchants.
C o t t o n , G r a i n , P r o v is i o n s a n d C o f f e e .
CO TT O N E X C H A N G E B U ILD IN G ,
NEW YORK.

ROBERT MOORE & CO.,
5 6 B e a v e r S treet, N ew Y o rk .
O RD ERS FO R F U T U R E D E L IV E R Y EXECU­
T E D IN N E W Y O R K A N D L IV K U P O O L E X ­
C H A N G E S.
C O TTO N P U R C H A S E D F O R SP IN N E R S ’ USE.

SM
ITH & HAYNE,
F rank B. H a y n e (In Com m endam .)
COTTON

C o tto n B r o k e r s ,
E X C H A N G E B U IL D IN G ,

NEW ORLEANS, LA.
O RD ERS FOR F U T U R E D E L IV E R Y EXECUTED
IN N E W O R L E A N S , N E W Y O R K A N D
L IV E R P O O L M A R K E T S .




BANKERS.

BOSTON, MASS.
H ig h -G ra d e

In vestm en ts.

M em bers o f New Y ork and B o sto n Stock E xch angee

I E stablished 1863.J

A U G U S T A , G A .,
AND
C o tto n E x ch a n g e B u ild in g . N E W Y O R K .
1 4 1 M ilk S tr e e t, B O S T O N , M A S S .
IN M A N & CO

B rem en C orrespondents.

F.H . PRINCE & CO.,

W. R. CRAIG & CO.,
L o r d ’s C ourt Building,
2 7 W illia m S tre e t.
- NEW YO R K
T el. N o. 1619 B road.

C o tto n M e rc h a n ts .
N EW Y O R K COTTON EX CH AN G E
Members •N EW ORLE AN S COTTON EXCH AN G E
N EW Y O R K COFFEE EX CH AN G E
L IV E R P O O L COTTON ASSOCIATION
Future Delivery Orders Executed on above Exchanges
Liberal Advances Made on Cotton Consignments
L E H M A N BR O S ., N ew Y ork .

Lehman, Stern & C o.,^ COTTON FACTORS and
C0MMISS0N MERCHANTS,
N e w O r le a n s .
O rders f o r fu tu r e d e liv e ry e x e cu te d in N ew O rleans
N ew Y ork and L ive rp o o l.
L iberal a d va n ce s m a d e o n C otton consignm ents.

W . T. HA TC H & SONS,
BANKEBS AND BB0KEBS,

96 Broadwav,
NEW

-

New York.

M EM BERS OF
Y O R K STOCK EXCH AN GE.

C L E M E N T & S M IT H ,
Successors to HAVEN & CLEMENT,

1 Nassau Street, corner W all Street.
M em bers o f th e N ew Y ork Stock E x ch an ge.

Bonds, Stocks, Cotton, G rain.
D IC K B R O T H E R S & CO .,
BA N K E RS AND B R O K E R S,
3 0 B r o a d S t .,
N ew Y o rk .
Members of N . Y . and PMladelpnla Stock Exchangee.
New York, New Orleans ana Liverpool Cotton
Exchanges, New York CoUce Exchange
and Chicago Board ot Trade.

<fiction.

Chapman, Selter & Allen, Stephen M. Weld & Co.,
COTTON B R O K E R S .
C o tto n E x c h a n g e B ld g ., N e w Y o r k .
Members of N . Y . and New Or lean Cotton Exchanges
and Liverpool Cotton Association.

GW ATHM EY & CO.,
COTTON

COTTON MERCHANTS,

82-92 Beaver Street, - New York City,
B o s to n C o rre sp o n d e n ts, S. M . W e l d & C o ., 89
S tate S t., B o s to n , M ass.

L iv e rp o o l C o rr e s p o n d e n ts , W e l d & Co.
Bremen C o rr e s p o n d e n ts , A l b i u jc h t, W e l d

4 9 C otton Exchange ,

-

-

N ew Y ork.

Geo. H. McFadden & Bro.,
COTTON

W m . P.Quentell.
R R . Coats.

& Co.

M ERCHANTS,

Theodore H . Price,
Special Partner.

Queritell, Coats & Co,,
COTTON B R O K E R S ,
S 2 B e a v e r S tre e t,
N ew Y ork ,
Members N .Y . Cotton Exchange.
Associate Members Liverpool Cotton Association.

M ERCH ANTS,

P H IL A D E L P H IA .

NEW Y O R K .

L iv e r p o o l Co r r e s p o n d e n t s :
F R E D E R IC Z E R E G A & CO.
B rem en C o r r e s p o n d e n ts :
M CFAD D E N B R O T H E R S & CO.
H a v r e C o r r e s p o n d e n ts :
SOC1ETJS D ’ UUPORTATION ET DE COMMI8S“ »*»

INCLUDING

Bank and Quotation Section (Monthly)
Railway and Industrial Section ( q uarterly)

State and City Section (semi-Annually
Street Railway Section

E n te re d a c c o r d in g to A c t o f O on greas, in t h e y e a r 1 9 0 7 , b y W i l l i a m B . D a n a C o m p a n y in th e o ffloe o f L ib r a r ia n o ' C o n g r e s s ,W a s h in g t o n , D .O
A weekly newspaper entered at Po*t Office, New York, as seoond-class matter—W u x i am B. D a n a C om p any, Publishers, 7QM Pine 8t., N. Y.

VOL. 84.

SATURDAY,

JAN U ARY

llxs ChxcmMe.

Week inding January 12.

Terms of Subscription— Payable in Advance
T o r O n e Y e a r ..................................................................................................... '. . .. * 1 0 00
F o r S ix M o n t h s ...........................................................................................................
0 00
E u ro p e a n S u b s cr ip tio n (in c lu d in g p o s t a g e ) .................................................. 13 00
E u rop ea n S u b s crip tio n s ix m on th s (in c lu d in g p o s ta g e )..........................
7 50
A n n u a l S u b s cr ip tio n in L o n d o n (in c lu d in g p r.sta g e )................................£ 2 1 4 s.
S ix M o n th s S u b s cr ip tio n in L o n d o n (in c lu d in g p o s t a g e )........................ £ 1 11 s.
S u b s cr ip tio n in c lu d e s fo ll o w i n g S u p p lem e n ts —
B \n k a n d Q u o t a t i o n ( m o n t h l y )
I S t a t e a n d C it y (s e m i-a n n u a lly )
R a i l w a y a n d I N D U S T R IA L ( q u a r t e r l y ) I S t r e e t K a i l w a y ( 3 t i m e s y e a r l y )

Terms of Advertising— Per Inch Space
T r a n s ie n t m a tte r p e r in c h sp a ce (1 4 a g a te l in e s ) ...........................................
C T w o M on th s
(s tim e s )................................
C m U J T h re e M o u th s (1 3 t im e s )................................
S ta n d in g B u sin ess e a r n s ■/ s i x M on th a
(2t5 tim e s )................................
. T w e lv e M o n tlis (5 2 tim e s )................................

£4
22
29
50
87

20
00
00
00
00

C H IC A G O O F F I C E —P . *far<lett,513 M o n a d n o ck B lo c k ; T eL H a r ris o n 4012.
L O N D O N O F F I C E —Edw aruS & S m ith , 1 D ra p e rs’ G ard en s, E . C.

A V I L L iA J I IS . D A N A C O M P A N Y . P u b lis h e r s ,

P in e S tre e t, C o rn e r o f P e a r l S tre e t,
P ost Office B o x 9 5 8 .
NEW Y O R K .

CLEARING HOUSE RETURNS.
The following table, made up by telegraph, & c., indicates
that the total bank clearings of all the clearing houses of
the United States for the week ending to-day have been
$3,588 ,79 4,55 1, against §3,454,7 58 ,2 79 last week and
$3,751,979,732 the corresponding week last year.

Philadelphia

___________________

Seven cities, 5 days__________________

Total all cities for w eek_____________

Per
Cent.

1907.

1906.

$ 1 ,8 2 8 ,6 2 1 ,3 0 7
1 9 9 ,6 5 6 ,2 0 1
1 2 4 ,4 5 7 ,7 6 9
2 0 1 ,2 1 0 - 3 4 0
5 9 ,4 1 0 ,6 6 7
2 2 .0 4 0 ,7 1 4

$ 2 ,2 2 3 ,8 3 9 ,4 3 1
1 6 5 ,7 8 0 ,4 9 0
1 3 5 ,4 2 9 .3 0 9
2 7 ,7 9 6 ,3 6 2
1 8 7 ,3 7 8 ,5 9 9
5 7 ,6 2 1 ,0 5 5
2 1 ,4 2 7 ,9 8 5

— 1 7 .8
+ 2 0 .4
— 8 .1
— 9 .7
+ 7 .4
+ 3 .1
+ 2 .9

5 2 ,5 6 0 ,5 0 0 ,7 6 4
4 3 2 .0 1 8 .9 7 1

S 2 ,8 1 9 ,2 7 3 ,2 3 1
3 7 6 ,0 1 8 .9 4 7

— 9 .2
+ 1 4 .9

$ 2 ,9 9 2 ,5 1 9 ,7 3 5
5 9 6 ,2 7 4 ,8 1 6

5 3 .1 9 5 ,2 9 2 .1 7 8
5 5 6 .6 S 7 .5 5 4

— 6 .3

S3.588.794.551

$ 3 ,7 5 1 ,9 7 9 ,7 3 2

— 4 .4

+ 7.1

The full details for the week covered by the above will be
given next Saturday. W e cannot furnish them to-day,
clearings being made up by the clearing houses at noon on
Saturday, and hence in the above the last day of the week
has to be in all cases estimated, as we go to press Friday night.
W e present below our usual detailed figures for the previous
week, covering the returns for the period ending with Satur­
day noon, January 12, and the results for the corresponding
week in 1906, 1905 and 1904 are also given. Contrasted with
the week of 1906 the total for the whole country shows
a loss of 8 .3 % .
Outside of New York the increase over
1906 is 5 .0 % .
Week ending January 12.

Clearings at—

Inc. or j
Dec.
New Y o r k ____
P h iladelphia. .
Pittsburgh____
B a ltim o re ____
B uffalo..............
Washington
A lban y_______
Rochester . .
S cra n ton _____
Syracuse
W ilm ington___
H e a d in g
W ilk es-B a rre”
W h e e lin g ___
C h e s te r......... I
Binghamton
E r i e ..................
Greensburg . _.
F r a n k lin _____

_

Total Middle

+

2 ,4 9 6 , 1 6 6 , 2 2 0 2 . 8 7 2 , 3 1 9 , 0 8 5




1904.

s
S
S
% • !
2,">94,337,802 — 1 4 . 3 1 7 7 6 .5 2 8 ,6 8 2 1 ,3 1 1 ,2 4 0 ,3 4 7
l.r)0,876,804
1 1 9 ,7 9 7 ,1 9 2
— 6.3i 1 2 8 ,9 5 1 ,6 1 4
54,916.004
3 7 ,8 9 1 ,8 4 2
4 4 .2 2 8 ,3 7 1
— 0.7
30,851.900
2 5 ,2 8 1 ,3 3 3
2 5 ,5 7 3 ,4 0 9
+ 1 .0
7,835,927 + 1 3 .1
7 .1 6 3 ,9 3 3
6 ,4 0 5 .1 6 0
6,483,939
4 ,5 5 8 ,2 2 5
4 .9 6 3 ,4 1 6
+ 4 .6
5.645.548 + 3 5 .9 :
4 ,3 5 7 .1 0 2
3 ,8 9 5 ,1 7 5
4,173,040
— 9.0
3 ,4 1 0 ,7 3 6
3 .5 0 4 .4 0 9
1.999.17,') + 17.7
1 .6 3 4 .1 6 5
1 .8 6 0 ,7 9 6
1.875,408
1 ,4 8 2 ,0 4 2
10.8
1 .5 3 5 ,9 1 2
1,3. >0.294
+ 5 .3 !
1 ,2 9 1 ,5 5 3
1 .3 7 0 ,1 2 8
1.231,026 + 2 1 .9 !
9 3 7 ,1 3 9
1 .1 3 3 ,6 3 3
1,079,403 + 28.4!
9 8 3 ,6 6 0
1 ,0 9 5 .0 4 1
951,130
+ 8 .5 !
6 8 6 ,0 2 6
7 4 6 .6 5 1
714,215 — 2 0 .3 !
4 6 1 ,4 7 1
5 0 6 .0 6 3
624.100
+ 0 .9 )
5 2 5 ,9 0 0
5 8 7 ,6 0 0
602,573 + 13.5
4 6 5 ,5 3 7
5 1 8 .4 3 9
455.018 + 22.0 !
4 4 3 .1 6 7
3 9 4 ,5 8 3
315.773
— 3.0|
2 4 3 .3 7 7
2 7 6 ,4 4 7

2 ,2 2 3 ,9 5 5 ,2 0 8
1 4 6 ,9 1 6 9 9 4
5 4 ,5 1 5 ,886
3 1 ,1 7 1 ,3 4 6
8 ,8 5 9 ,3 1 9
(’> ,779 ,4 3 6
7 ,6 7 4 ,1 2 7
3 .7 9 9 ,561
2 ,3 5 3 ,2 3 9
2 , 0 7 7 .4 7 4
1 .4 2 2 .5 6 6
1 ,5 0 0 .000
1 .3 8 6 ,3 8 8
1 ,0 3 1 ,6 5 6
5 3 9 ,121
6 3 0 .000
6 8 3 ,9 7 1
5 5 4 ,961
3 1 4 ,9 6 7

I

I

NO. 2169.

1907.

Clearings at—

PUBLISHED Y/EEKLY.

Clearings— Returns by Telegraph.
Week ending January 19.

19,

— 13.1|2 005.296.229 1 .5 2 1 ,6 3 4 ,8 5 7

_______
Boston
P r o v id e n ce _____
H a r tfo r d _______
New H a v e n ,. ._
Springfield______
Portland . _____
W o rce ste r______
Fall R i v e r . ____
New. B edford____
L o w e ll_______ .
H olvoke________
Total New Eng.
Chicago _______
Cincinnati __ . _
C le v e la n d ______
D e t r o i t ________
M ilw a u k e e_____
Indianap olis____
C o lu m b u s______
T o le d o __________
P e o r ia _____ ____
Grand R apids___
D a y t o n ________
E v a n s v ille _____
K a la m a zo o _____
Fort W a y n e ____
Springfield, 111 . .
L e x in g to n ______
Youngstown . .
A k r o n __________
South Bend_____
Rockford ______
Bloom ington . .
Q u in c y ________
Springfield, O __
Canton _______
M a n sfie ld ______
D e c a t u r __
Jacksonville, 111.
Jackson _ ______
Ann A rbor______
T ot. M id.W est.
San Francisco___
Los Angeles_____
S e a t t l e ________
Salt Lake C ity___
P o r tla n d _______
Spokane________
T a co m a ________
Helena ________
Fargo _ _ _____
Sioux Falls_____
Oakland________
San Jose________
Total P a cific ..
Kansas City .
Minneapolis_____
O m a h a ________
St. P aul________
D enver_____
St. Joseph______
D esM oin es_____
Sioux C ity______
W ich ita ________
D avenport. ___
Topeka __
Colorado Springs
Cedar Rapids___
Pueblo
_______
Fremont . .
Lincoln ________
T ot. oth.W est.
St. Louis_______
New Orleans____
L o u is v ille______
H o u s t o n _______
G a lv e sto n ______
Richm ond _____
M em phis_______
Nashville ______
Savannah ______
Fort W o r t h ____
N o rfo lk _________
A u g u s t a _______
Birm ingham ____
Charleston ____
C h a t ta n o o c a ___
Jack son v ille ____
K n o x v ille ______
Mobile ________

1907.

1906.

Inc. or
D ec.

1905.

$

$

%

S

+ 10.2

1 5 2 ,8 6 1 .1 9 1
8 ,2 2 6 ,0 0 1
3 ,4 8 7 ,8 3 8
2 ,4 9 0 ,5 3 8
1 ,0 3 0 ,3 3 5
1 ,0 1 3 ,7 7 2
1 ,4 9 0 ,8 0 '!

1
j

1904.

$
13S.914.091

2 0 6 ,5 0 4 ,5 6 6
9 .0 1 1 ,1 0 0
4 ,8 2 4 ,1 5 8
2 ,9 5 7 ,4 6 0
2 ,1 1 4 ,2 6 2
1 ,9 8 5 ,1 6 9
1 ,6 3 3 ,9 5 2
1 ,1 7 2 ,4 5 4
8 8 8 ,7 2 7
5 7 7 ,7 8 3
6 2 3 ,2 1 5

1 8 7 ,4 1 8 ,6 8 4
8 .8 7 5 .3 0 C

2 3 2 ,2 9 2 ,8 4 6
2 3 0 ,3 0 1 ,7 2 2
3 2 ,2 0 6 ,1 5 0
1 8 ,0 4 3 ,8 7 6
1 3 ,7 9 5 ,4 4 3

2 1 1 ,8 6 9 ,1 6 2

+ 9 .6

174,168,197

1 5 9 ,8 8 8 ,0 8 5

2 3 9 .7 0 3 ,9 6 5
2 7 ,8 6 4 ,7 0 0
1 5 ,7 2 2 ,9 0 3
1 2 ,8 5 6 ,0 6 9
1 0 ,4 8 0 ,2 5 9
8 ,0 5 4 ,7 8 8

— 3 .9
+ 1 5 .6

1 8 9 ,5 1 6 ,2 9 3

180,110.007
20 000,000

11,929,350
9 ,8 2 7 .5 2 2
6 ,1 7 9 ,1 0 0
4 ,1 8 4 ,9 9 0
3 ,0 9 6 ,5 6 8
2 ,7 1 7 ,8 1 1
2 ,5 7 3 ,5 0 6
2 .1 5 1 ,4 2 5
1 ,1 6 6 ,8 6 6
9 3 8 ,6 6 7
9 7 9 ,6 8 4
8 5 9 ,4 5 2
8 0 5 ,6 9 2
7 7 3 ,8 8 4

3.997.31S
2 ,6 7 0 ,3 6 8
2 ,2 0 4 ,2 0 8
2 ,1 7 2 ,5 2 7
1 ,6 2 3 ,0 0 4
1 ,0 3 0 ,9 4 7
7 5 3 ,4 0 8
6 6 3 ,0 3 0
4 6 0 ,3 6 7

6,127,600
4 ,7 7 4 ,7 8 5
3 ,5 4 2 ,8 6 5
2 ,5 4 6 .9 0 3
2 ,1 7 4 ,2 5 9
1 ,6 3 4 .1 0 9

1,163,184
9 9 3 ,7 7 7
S 9 3 .5 2 7
7 6 1 ,2 8 2
7 0 5 ,8 6 2
6 6 3 ,1 0 0

+ 1 .5

+ 20.2
+ 10.8
— 4 .1

— 8-0
+
+
—
+

+ 0 .7
1 3 .8
17.E
1 3 .C
3 5 .4

+ 18.6
+ 7.3
+ 13.8

+ 22.0

— 12.0
+ 6 .7

2,978.034
2,038,817

+ 3 1 .6
+ 0 .3
— 5 .5
+ 9 .0
+ 1 2 .9
+ 1 4 .2
+ 1 6 .7

590,396

— 0.0
+ 1 4 .9
— 1 8 .7
+ 8 .9

2 8 0 ,9 7 8
3 0 0 ,0 0 0
1 4 5 .0 0 2
3 4 7 . 8 8 8 , 5?s2

345,307,197

4 3 ,9 0 1 ,1 9 9

4 1 .7 6 8 ,6 3 4
1 0 ,6 6 0 ,6 3 9
7 ,9 1 4 ,0 8 1
7 ,7 0 0 ,1 7 0
4 ,8 9 1 ,3 2 9
4 ,0 8 0 ,8 8 8
3 ,7 0 3 ,5 2 7
8 7 0 ,0 6 1
6 9 5 ,2 9 8

6,600 000
5 .5 0 3 ,9 0 9
4 ,8 0 4 ,3 7 7

965,955

+ 17.9
+ 2 1 .4

1 0 ,4 6 9 ,8 3 8
8 ,8 1 5 ,1 6 8
9 ,7 4 8 ,8 6 0
5 ,8 0 0 ,0 0 0
3 ,1 7 1 .0 8 6
2 ,2 6 9 ,8 3 8
1 ,2 7 2 ,9 7 2
1 ,1 1 7 ,5 0 1
1 ,0 7 7 ,4 1 1
7 0 4 ,5 1 9
6 5 8 ,9 7 0
6 0 0 .0 0 0

1,052,696
9 1 3 ,2 0 3
8 3 8 ,5 2 2
6 2 3 ,3 5 8

8 4 9 ,6 5 7
6 8 7 .3 9 6
6 1 0 ,2 9 4

625,000
4 8 2 ,5 0 5
3 8 6 ,6 6 8
3 4 4 ,6 4 8
4 9 0 ,3 4 3
5 2 1 ,0 0 5

— 1 4 .4

4.3
-1-0.7

2 8 3 ,7 7 6 ,7 0 2

11.0
0.1

+

-RR

2 7 1 ,8 6 2
1 4 2 ,7 5 0

+ 34.9

3 3 ,3 8 8 ,0 0 2
8 ,0 4 9 ,5 6 5
4 ,9 6 7 ,8 2 0
4 ,5 2 4 ,1 0 7
4 ,0 7 8 ,3 0 4

+ 3 4 .9
+ 2 9 .7

2,781,228
3,043,337

+ 5 .1
+ 1 6 .6
+ 1 6 .3

+ 0.8

+ 11.0

+

8 ,8 3 5 ,9 3 6
7 ,3 1 1 ,9 8 6
7 ,4 4 8 ,6 3 6
5 ,2 6 0 ,8 1 3
2 ,9 4 5 ,2 2 2
1 ,9 2 8 ,3 1 8
1 .1 2 3 ,3 8 6

1 ,9 7 7 ,0 7 3
1 ,5 9 1 ,9 1 7
1 ,0 1 5 ,2 9 6

170,720
287,279
262,555

—

— 6.7
413.6S0 + 23.7
N ot Included In total
Not included In total
11.6
92,329,674
82,698,307
26,131,249 + 26.9
3 3 ,1 5 8 ,2 7 1
—
4 .8
20.53S.827
19,530,808
6 4 8 ,8 6 9
5 1 1 ,7 9 1
3 ,8 8 3 ,9 2 9
3 0 0 ,0 0 0

3 ,9 2 6 , 6 0 0

3 ,9 3 3 ,9 3 8

5 5 2 ,0 8 2
5 5 1 ,2 1 2
4 S 2 .6 3 8
4 5 6 ,6 5 4
4 3 6 ,8 7 0
4 1 0 .2 8 6
3 7 4 ,5 0 0
3 2 8 ,4 1 6
3 2 1 ,1 9 0
1 3 9 ,0 1 6

9 ,2 0 4 ,3 9 8
7 ,7 6 4 ,0 1 6

1 4 ,4 5 3 ,3 8 1
1 0 ,5 8 6 ,1 0 7
8 , 7 7 9 ,8 0 9

0,731,SOS
4.983.60C

+ 18.4

+ 1 8 .5

+ 20.0

,

1 1 ,8 4 7 ,0 2 5
9 ,1 3 5 ,7 1 4

+ 0.8

590,327

12,425,160

26,266,45C
15,357,994

— 12 .4

6 3 4 ,4 9 4
4 4 8 ,7 3 0
5 2 5 ,6 4 5
5 3 8 ,8 1 1
5 3 0 ,5 4 4
3 6 5 ,0 6 2

397,280

03S.512

0 3 5 ,4 0 5
545.64E
5 4 7 .3 5 9 1

9 ,0 1 0 ,0 0 0
2 ,6 6 7 . 0 4 3
2 ,0 5 2 ,2 4 1
1 ,4 1 2 ,3 3 7
1 ,0 1 4 ,4 0 3
1 ,1 7 7 ,3 2 4
1 ,2 3 6 ,7 4 2
7 7 1 ,2 1 3
4 9 9 ,5 4 6
5 2 7 ,1 4 5

0,420,341
3,332,039
3 ,0 2 7 ,0 3 8
2 ,3 0 3 , 1 5 8
2 ,2 2 8 , 4 8 8
1 ,4 8 4 ,4 3 7
8 3 8 ,2 4 0

____

7 5 1 ,3 3 8
0 2 7 ,0 1 6
4 7 8 ,5 4 8
7 4 5 ,0 0 0

-----

488,354
4 0 0 ,1 7 8
3 4 8 , S22

409,310
0 8 5 ,9 9 8

218,767
266,516
262,061
2 1 5 ,4 0 6

146,799
269,534,424
3 2 ,1 4 0 , 8 1 5

7,727,595
4 ,4 7 2 ,6 2 9

3,632,253
3 ,5 0 8 ,5 9 1
2 ,2 3 0 ,8 4 3
2 ,2 4 4 , 9 6 6

917,627

7 0 8 ,0 3 5
7 9 5 ,9 1 1

0 1 1 .4 2 0

218,597

297,007

62,555,506
22,013,163

57.783,746
23,486,970

1 6 ,9 1 2 ,3 9 4
8 ,8 2 0 ,8 1 2

1 5 ,2 6 3 ,8 2 2

5,380,279

0 ,3 6 3 ,1 6 7

7,900,178

+ 10.2

8 ,3 1 4 ,0 0 0
4 ,8 3 6 ,4 0 0
2 ,5 2 1 ,9 6 5

4,412,834
4.S93.578
2,266,341

+ 1 7 .7
+ 1 3 .3

1,774,167
1.228,644

1,229,705

+ 18.0

8 4 0 ,8 0 7
1 ,1 1 1 ,2 8 2
6 0 1 ,6 0 2

+ 3 0 .9

+ 7.7

+ 6.2

— 1 6 .0
+ 5 .7
+ 5 .9

450,682

1 ,4 0 7 ,8 7 7
8 S 9 .2 5 2

1,190,528
6 3 9 ,4 0 9
4 7 0 ,0 0 0

511,909
405,709
279,938 + 44.9
1,210.390 N ot Included in total
98,800,951
85,853,999 + 15.1

185,399

200,825

75,841,012

7 0 ,6 0 8 .1 0 1

+ 3 .9
+ 5 .6

6 1 ,4 2 4 ,1 5 5
2 3 ,4 9 9 ,5 9 5

+ 6.5

12,628,512

+ 3 0 .5
+ 4 6 .2

7 ,8 0 4 ,1 5 0
0 ,7 8 5 ,5 0 0
5 ,7 2 3 ,4 0 9

5 5 ,4 6 8 ,2 2 7
2 8 .6 1 0 ,0 4 2
1 1 .7 7 9 ,2 7 0
9 ,8 7 5 , 3 8 2

— 2 .9

6,035,151

+ 26.3

3 ,7 0 9 ,8 0 9
3 ,3 1 4 ,4 8 1
3 ,8 5 8 ,5 4 1

6 8 ,1 6 0 ,9 6 5
2 5 ,0 0 1 ,6 2 0
1 4 ,9 3 8 ,1 0 9
1 4 ,2 6 3 ,9 5 6
8 ,7 8 3 .0 0 0
7 ,2 0 7 ,8 3 4

6,417,781
6 ,7 1 2 ,2 7 6
5 ,3 0 0 ,0 0 0
5 ,2 0 1 ,6 7 9
4 ,7 8 1 ,0 5 8
2 ,9 3 1 .1 2 5
2 .2 1 6 ,1 5 6
2 ,4 2 4 ,6 1 0
1 ,8 0 7 ,3 7 5
1 ,6 7 9 ,7 5 1
1 ,7 6 0 .5 6 4
1 .8 3 8 ,3 3 0
2 ,2 0 4 ,7 1 0
1 ,8 2 9 ,1 0 7
8 1 0 .0 0 0
4 1 0 .0 0 0

Macon . . . ____
Columbus, G a . . _
187,280,006
Total Southern
Total all______ 3 , 4 5 4 ,7 5 8 ,2 7 9
Outside N .Y __ 1,230,803,071
Canada—
32,379,028
M ontreal_______
2 9 ,5 7 0 .3 4 4
Toronto ______
1 2 ,2 9 5 .1 2 3
W innipeg ______
2 .3 5 0 .0 0 0
Halifax
3 ,2 4 0 ,2 3 6
Ottawa .
2 .0 2 7 ,5 2 9
Quebec__________
3 ,7 5 7 ,4 1 8
Vancouver. .
1 .6 6 9 ,3 6 9
H am ilton_______
1 ,5 5 5 ,2 6 8
St. John......... ..
1 ,4 4 2 ,9 2 2
London ________
Victoria . _____
1 ,0 1 3 ,0 9 2
1 ,4 0 0 ,0 0 0
C a lg a ry _____ __
E dm on ton ______
7 0 0 ,0 0 0
Total Canada.
92,300,329

2 4 ,2 5 4 ,4 5 3
1 4 ,0 2 0 ,3 6 8
1 0 ,9 3 1 ,4 4 4
0 ,0 0 6 ,5 0 0
7 ,1 6 5 ,0 4 7
6 ,6 1 0 ,7 0 8
5 ,3 1 6 ,4 5 4
4 ,6 5 3 ,8 0 2
4 ,3 4 4 ,6 2 3

3,041,2S4
2 ,5 2 2 ,0 4 8
2 ,2 5 2 ,6 8 1
2 ,0 4 4 ,9 6 4

1,692,455
1,558,058
1 ,5 0 3 ,0 1 0
1 .4 5 9 ,2 4 4
1 .3 0 5 ,1 1 1
1 ,2 4 8 ,2 7 5
6 5 8 .6 S 4
4 4 4 ,1 3 8

16S.019.095
3,766,066,845
1,172,329,043
3 0 ,3 4 8 ,0 4 2
2 5 .9 0 9 .7 9 K
9 ,5 8 9 ,6 7 0

2,458,006

+ 0.6

+
+
+
+

1 3 .9
1 9 .7
5 7 .2
1 5 -4

— 16
+ 18.6
6.8
+ 7.8

+

+ 1 7 .1
+ 2 5 .9

+ 08.8

+ 4 6 .5
+ 2 2 .9
— 7 .7

3 9 9 ,4 1 0

2,242,160

5.081.000
5 .5 5 0 , 1 8 2
0 ,4 4 2 , 6 6 8
3 ,8 1 6 , 7 7 2
3 ,0 5 7 , 0 3 3
3 ,7 3 2 ,1 3 8
1 ,8 8 3 ,2 7 2

1,715,595

1 ,8 9 3 ,4 7 0
1 ,6 5 4 ,1 0 8
1 .4 6 8 ,5 7 7

1 ,8 4 9 ,1 7 3
1 ,6 2 8 ,0 0 9

1,349,369

1,533,500

9 2 9 ,9 7 6
1 ,4 3 9 ,7 1 7
1 ,4 2 3 ,1 6 6

1,154.918

____

1,039,170
5 1 2 ,2 9 4
2 1 1 ,9 0 1

+ 11.1

149,010,271

+ 6.7

2 3 ,5 2 4 ,0 4 0
2 0 ,9 3 7 ,2 3 2

8 6 5 ,9 9 6
7 S 5 .1 0 8

____
1 .4 7 6 ,5 1 1
1 ,1 4 6 ,0 0 0
------

148,350,808
— 8.3 2 ,7 5 0 ,0 4 7 .9 1 7 2,227,800,021
916,559,674
+ 5.0 974,119,235

+ 14.1

+ 2 8 .2
— 4.4

7,066,845
1,880,929

19,806,607
16,227,837
5 ,2 1 9 , 1 9 6
1 ,7 2 2 ,7 3 7
2 ,4 1 4 ,1 0 5

+ 1 9 .7
+ 1 3 .8
+ 3 3 .6

1 ,9 6 5 .3 4 8
1 ,3 9 8 ,6 7 5
1 ,4 7 3 ,2 8 4
1 ,2 2 0 ,7 1 2
1 ,1 7 8 ,2 0 5
1 .0 3 9 ,3 5 2

1,067.731
— 5.1
N ot Included n total
Not Included n total
+ 16.0
7 9 ,5 3 9 ,3 2 9

998,984

710,390

62,684,606

51,471,334

2 ,3 3 6 .2 6 0
1 ,9 7 0 .0 2 6
2 .0 1 7 .8 S 0

1.394,867
1 ,3 6 7 ,4 0 2
1 ,0 7 9 .6 4 7

+ 3 8 -7
+ 2 .9

+ 86.2

1,378.596
1 ,2 0 2 ,8 9 2

1,090,736
877,351
8 2 0 ,8 2 7

124

THE CHRONICLE.

CHICAGO STOCK EXCHANGE RECORD OF PRICES
FOR 1906.
On page 138 to-day will be found a record of the
range of prices on the Chicago Stock Exchange for
each month of the calendar year 1906.

THE FINANCIAL SITUATION.
Decidedly easier money has not brought the relief
looked for and expected. It has not brought with it
a wholesome flow of capital into railroad securities.
Indeed, at the moment greater caution is being ob­
served against a resumption of that course in affairs
than prevailed the past. year. Such a country as
the United States, immense in size, abounding in un­
developed resources, population not only large but
increasing its millions with marvelous rapidity, can
keep abreast of any progressive movement only by a
constant development of its resources and a concurrent
advance in the facilities for marketing the developed
wealth. Old-time statesmen started out with correct
methods. As growth began and a community pro­
duced more of its products than it could consume in
its own immediate surroundings, the corduroy road
gave waj' to the improved road to enable the ox-team
or perhaps the mules or horses to make a wider cir­
cuit for the distribution of the neighborhood products;
later the water-ways were enlarged; thereafter the canals
were built on the credit of the States, and, finally,
when that system was becoming effete, the railroads
appeared and were pushed along into the interior as
rapidly as capital could be procured or coaxed into the
business of extending rails.
These two fundamental conditions must go hand in
hand if a basis for a healthful progress is to be had in
this resourceful country. In spite of our foolish poli­
cies we may still produce enormous crops, but we
cannot, without antagonizing the distribution of our
surpluses in excess of home wants, repel the capital
seeking to keep up its freest flow into the work of facili­
tating the distribution. These two agencies are indivi­
sible for best progress. But it so happened that the
farming class, in its increased strength, instigated by
astute politicians seeking to make this situation a power
to carry forward their ambitions and purposes, took it
upon themselves to instill into the agricultural classes
the idea that they had the roads within their bailiwick
and could force them to do their will. As it is in
general a taking idea to get something for nothing,
the old interdependence was disregarded and the war
against capital got into full swing; both of the old
parties became wedded to the unsound doctrine and
it has for the time prevailed. But an insidious out­
come was at work in its silent way. For years now
very little track has been laid. Although in those
years productive conditions called for addition to rail­
road mileage louder than ever before and were hardly
if ever so much wanted, all the rails that were laid in
1906 in the whole United States was the paltry amount
of less than 6,000 miles. Why was it that this almost
complete stagnation in railroad construction was a
circumstance at a period when the surpluses of pro­
duction were so enormous and the need for enlarged
railroad facilities so imperative? Mr. James J. Hill,
President of the Great Northern Railroad, one of the
most enterprising and experienced of men in railroad



[V o l.

l x x x iv

.

affairs, in his clear and forcible way, tells us. These
are his words:
“ It is not by accident that railroad building has de­
clined to its lowest within a generation, at the very
time when all other forms of activity have been growing
most rapidly. The investor declines to put his money
into enterprises under ban of unpopularity, and which
are even threatened by individuals and political parties
with confiscation or transfer to the State. This feeling
must be removed and greater confidence be mutually
established if any considerable portion of the vast
sum necessary is to be available for the work.”
The conclusion the foregoing quotation brings out
so clearly has been criticized. The critic says “ the
facts upset it.” No facts can upset the truth; nor
does any fact stated by the critic weaken the above in
the least. No assertion is made by Mr. Hill other than
that railway building declined in 1906 to its lowest
within a generation; a fact which cannot be upset or
weakened. Besides, it is a fact of most serious import,
well worth the consideration of every individual who
wishes the best for his country. No such distrust in
railroad securities and in property has been apparent
since the silver agitation, which put in jeopardy the
basis of all values. The threats of late years being
made against that class of property are now no less
antagonistic to the free use of capital in railroad
expansion and no less destructive of the value of
railroad securities than the silver crusade was.
The critic above referred to introduces a statement
which we presume he thinks carries weight in this dis­
cussion. He asserts that during the past five years
the railroads have raised “ more than $2,500,000,000
fresh capital on their stocks and bonds,” and calling >
that a fact, it is to him so luminous that he can dis­
cover no signs that investors are “ declining to put their
money into such enterprises.” No part of the above
contravenes in the least what Mr. Hill says, which was,
we repeat, that “ railroad building has declined in 1906
to its lowest within a generation.” Even if the asser­
tion as given was authorized, how could it weaken the
force of the fact that the fresh capital spent in track
laying in 1906 was less than 6,000 miles, which, say
at*$20,000 a mile, would only call for 8120,000,000.
Of course the critic’s figures are not what they assume
to be. The intention apparently was to raise an in­
ference that an average of one-fifth of the formidable
sum mentioned (and not 20 million dollars) had been
raised the current year for railroad building. Stating
the case in that open way negatives it. But as the
critic’s big total may from its very size deceive some
readers, suppose we whittle it down a trifle. First,
there should certainly be deducted from it all “ in­
dustrials” ; again, every issue of bond and stock should
be deducted which has not been negotiated in 1906
but has been held in reserve for meeting future com­
pany needs or deficiencies; again, any issues of securities
made on the occasion of a lease or a purchase by an­
other company on a reorganization when sometimes
2 or 2>^ times have been added to capital for future
improvements to bring the properties up to a certain
level or equivalent for the exchange being made. Be­
sides, it includes all the money that goes into real
estate, into tunnels,[depots, subways,&c. ,&c. We make
these suggestions not because the aggregate ever could
have any relevancy in this discussion even at its
minimum, but only to show that it is not accurate,

J a n . 19 190 7. J

THE CHRONICLE.

125

and therefore has no statistical value in whatever are to be used by the company “ for the purpose of con­
structing, improving and equipping its railway’’ ,
relation it may be put.
and it is understood that a large portion of the amount
The decline in the open market rate of discount at will go to pay for the cost of new terminals at Chicago.
London on Wednesday to 4% % foreshadowed the It is to be noted that the terms of the offer call for the
reduction in the official rate by the Bank of England payment of the whole amount within a very short time
which occurred on the following day, when 5% was —on or before March 16 1907—showing that the money
recorded. Cable advices reported unofficial rates of is to be immediately employed. This is different from
discount at Berlin 5% and prospects that the Reichs- the plan pursued in the case of the North West’s
bank’s rate would soon fall to 6%. The exchanges at neighbors, where payments are extended over a period
New York, at Paris and at Berlin on London were of a year or two. It will be recalled that the Great
favorable to the British capital. Moreover, the Bank Northern Railway in offering last month $60,000,000
had no active competitor for the South African gold of new stock provided that payment might be ex­
which was offered in the bullion market; hence, not­ tended over sixteen months, beginning with January
withstanding the requirements for gold for Brazil, on 1907 and terminating April 1908. Similarly the North­
account of the coffee valorization fund, were, according ern Pacific Ry. offered $93,000,000 of new stock, pay­
to late mail advices, only partially satisfied; and those ments also to be made in installments, the last not
for Argentina were likely to be large, while not urgent, falling due until January 1909. In the case of the
the Bank’s governors decided, at their weekly court, Chicago Milwaukee & St. Paul Ry., the final payment
that there was no longer need for the maintenance on the $100,000,000 of new stock which this company
of the 6% rate of discount. Moreover, if not needful, will issue for the purpose of building its Pacific Coast
its further maintenance made it clearly unwise to extension, &c., will not be due until March 1909.
longer burden private banking interests in Great It will be observed that these four companies, through
the issues proposed, have arranged for an addition of
Britain with the higher rate.
At the moment, with open market discounts in about 278 million dollars to their outstanding share
London at 4M % , and money here tending toward capital—and the method is the same in each case, viz.,.
greater ease, there is some encouragement for invest­ an offer at par of stock which commands a premium.
ment operations in exchange, though profits will
chiefly result from holding the bills until they mature.
In our issue of January 5 we referred to two decisions
It seems likely that the lower discount rate in London in the Federal Courts holding unconstitutional what
and the increased offerings of capital at Paris will is known as the “ Employers’ Liability Act” passed by
promote borrowing by our bankers, through the vari­ Congress last year and which became a law June 11
ous forms of finance bills, and also provide a market 1906. Since then we have received the full text of
for the collateral notes which are now being extensively Judge McCall’s opinion at Memphis in the Circuit
drawn by railroad corporations because of their Court of the United States for the Western District of
inability to negotiate loans for longer fixed periods Tennessee, and this reveals the course of reasoning
through bonds. In this way the easier discount situa­ by which the unconstitutionality of the statute is
tion abroad will be beneficial in relieving American reached, and also brings out clearly the distinction
banking and railroad interests from the somewhat between this statute and other statutes apparently
tense time-loan situation which has prevailed.
analogous and which are considered Valid. For in­
stance, it was urged in the arguments that the law
The Chicago & North Western Railway Co. is the should be sustained on the same grounds as the Safety
latest one of the leading railroad systems in the North Appliance Act of Congress. But Judge McCall points
West to announce very considerable addition to its out that there is a vast difference between the two
capital. The roads in that part of the country are enactments. In the Safety Appliance Act Congress
certainly doing their share towards raising money to lays down specific rules and regulations with which
provide for new lines and additional facilities and take common carriers are required to comply. For a failure
care of present and future growth of traffic for a con­ to observe such rules or perform such duties a penalty
siderable time to come. All these roads are fortunately is prescribed which may be recovered by the United
situated in that their shares command a large premium States Government, and in addition it is provided that
in the market. By offering the new stock at par and any employee of such common carrier who may be in­
thus giving subscribers the benefit of the premium, jured by any locomotive, car or train, contrary to the
a very strong inducement is held out to take the new provisions of the Act, shall not be deemed to have
stock. • Where a company is not so situated as to be assumed the risk thereby occasioned, although con­
able to avail of this device, and is therefore obliged to tinuing in the employ of such carrier after the unlawful
raise new capital on interest-bearing obligations, it is use of such locomotive, car or train had been brought
in an unenviable plight just now, since it is almost to his knowledge. Thus a carrier is made liable to the
impossible to float new bonds—a state of things which employee, not simply because he is injured, but rather
has existed for over a year past. Chicago & North because the road violates and sets at naught the rules
Western shares sell at 187 for the common and at 230 for the government of its business prescribed by Con­
for the preferred, and both classes of shareholders gress, and because, as a result of such violation, the
are given the right to subscribe for $24,403,000 of new employee was injured. This liability in its nature
common stock (25% of their present holdings) at par. and essence is a penalty. The power of Congress to
The rights are selling at over $17 a share, from which prescribe a penalty for the infraction of a rule or regu­
it can be seen what an inducement there is to take the lation, which it is empowered to enact by the express
stock and what a leverage for raising new capital such terms of the Constitution, Judge McCall thinks is not
a device affords. The proceeds of the new stock issue open to question.




126

THE CHRONICLE.

On the other hand, in the Act of June 11 1906,
Congress does not undertake to prescribe a rule or
regulation for the conduct or government of the busi­
ness of a common carrier, for the infraction of which a
penalty or liability is imposed^ but the Act only de­
clares that the carrier shall be liable for all damages
to its employees the result of the negligence of its
officers, agents, employees, &c. In other words, the
Act abolishes the common law rule as to fellow servants,
as heretofore applied in the United States Courts.
Judge McCall says there is no express grant of power
ito Congress over the subject of the liability of common
carriers, or other employers, to their employees for
torts, nor, in his opinion, is there any grant from which
such power can be necessarily or even reasonably im­
plied. Had the 1906 Act prescribed some rule or
rules for the safer and more expeditious transaction
of the business of the carrier and which he was to ob­
serve, and fixed the liability for his failure to comply
with the same, the Act would have possessed similarity
with the Safety Appliance Act. In short, Judge Mc­
Call shows convincingly that the power of Congress to
define the liability of common carriers, engaged hi
inter-State commerce, to their employees, and to create
rights of action in favor of the same, can only be exer­
cised when Congress in the first instance has prescribed
rules of conduct governing common carriers, and it is
only for the breach of these rules that Congress has
the power to prescribe civil liability. Independent
of such rules, Congress has no power to define the lia­
bility of a common carrier to its servants on account
of torts committed by other servants of the common
carrier. But Judge McCall holds the Employers’
Liability Act unconstitutional on still another ground.
It does not distinguish between inter-State commerce
and commerce carried on within the State. He says
the Act is plain on its face. It applies to all common
carriers engaged in trade or commerce between the
States, and imposes upon carriers whose lines lie wholly
within a State, if such lines do any inter-State business,
the same liability as upon a common carrier who han­
dles only inter-State business. In enacting such a
law, Congress has exceeded the powers delegated to it.
Judge McCall’s conclusion, therefore, is that Con­
gress is not authorized under the commerce laws of
the Constitution to enact legislation of this kind, for
the'reason that the relation of inter-State carriers to
their employees and their liability to them in damages
is not commerce within the meaning of the Constitu­
tion. But if it were, the Act does not undertake to
regulate that relation or liability; it simply announces
by an Act of Congress a new law on torts limited to a
special class of those engaged in inter-State commerce.
Furthermore/the Act does not confine the liability which
it seeks to impose upon common carriers engaged in interState trade and commerce to such common carriers, but
imposes the same liability upon common carriers en­
gaged in trade and commerce wholly within the State.
The Bank of England official rate of discount was
reduced on Thursday to 5% from 6%, at which it had
been maintained since the 19th of October 1906.
With this exception there was no change in official
rates of discount by any of the European banks this
week. It is thought likely, however, that the Im­
perial Bank of Germany, which on December 18
advanced its official rate to 7%, will soon make a



_ } V OL. LXXXIV.

reduction; the Bank lias evidently been unable,
recently at least, to control the open market rate, and’r
as reported this week, the institution has increased its
cash holdings since the last return by tloe important
sum of £4,124,000. Unofficial: rates of discount at
the chief European centres were, compared with last
week, % of 1% lower at London, % of 1% at Paris
and 34 of * % at Berlin and Frankfort.
The most notable feature of the statement of the
New York Associated Banks last week was an increase
of $8,492,875 in surplus reserve to $8,640,700. This
was the result of a gain of SI0,578,900 in cash less an
increase of $2,086,025 in reserve requirements. Loans
were contracted by $358,800 and deposits were in­
creased $8,344,100. The bank statement of thi.> week
should also show important gains in cash as the result
of the disbursement by the Sub-Treasury of corasiderable sums in excess of receipts.
The above-noted favorable bank statement ancT the
indications, as disclosed by the daily Sub-Treasury
report of debit balances at the Clearing House., that
Government payments were this week largely Lt ex­
cess of receipts, contributed to marked ease in mone­
tary conditions. The demand for money on call was.,
however, somewhat restricted because of the tame
speculation in stocks and the downward, tendency of
prices, and though offerings of funds for short fixed
dates were liberal arid at concessions, comparatively
little business was reported.
Money on call, representing banters’ balances,
loaned at the Stock Exchange during the week at
5% and at 2>£%, averaging about 4%;- banks and
trust companies loaned at 2% % as the minimum.
On Monday loans were at 5% and at. 3% % wi&h the
bulk of the business at 4%. On Tuesday transactions
were at 4Y^% and at 3% with the majority at 4%..
On Wednesday loans were at 4% and at 2]^>% witftj
the bulk of the business at 4%. On Thursday transtactions were at 3 ^ % and at 334% with the majority
at Sy2% . On Friday loans were at 3j^% and at 2J^%
with the bulk of the business at 334*%. Time loans
on good mixed Stock Exchange collateral were quoted
at 5V2% for sixty and 5% % for ninety days. For
longer maturities up to six months, 6% is the rate.
Commercial paper continues to be quoted nominally
at 6@63^% for sixty to ninety-day endorsed bills receiv­
able, 6@63^% for prime and 6H @ 7% for good four to
six months’ single names; brokers report some business
at concessions but the transactions are in smallamounts.
The Bank of England reduced its rate of discount
this week from 6% , at which it had stood since October
19, to 5%. The cable reports discounts of sixty to.
ninety-day bank bills in London at 4% @4% % • The
open market rate at Paris is 3@334% and at Berfin
and Frankfort it is 5 @534%. According to our
special cable from London, the Bank of England gained
£508,824 bullion during the week and held £32,162,824 at the close of the week. Our correspondent fur­
ther advises us that the gain was due to large receipts
from the interior of Great Britain, these and
the imports greatly exceeding the export move­
ment, which was particularly heavy to South America.
The details of the movement into and out of the Bank
were as follows: Imports, £4S1,000 (of which £41,000
United States coin and £440,000 bought in open

J a n . 19 1907. |

THE CHRONICLE

127

market); exports, £1,532,000 (of which £1,512,000 to
The market closed on Friday at 4 8125 @ 4 8150 for
South America and £20,000 to Singapore), and receipts long, 4 8550@4 8560 for short and 4 8625@4 8635 for
cables. Commercial on banks 4 80% @4 81 and docu­
o f £1,560,000 net from the interior of Great Britain.
ments for payment 4 803^ @ 4 8 1 ^ . Cotton for pay­
The foreign exchange market was only moderately ment 4 803^ @ 4 80%, cotton for acceptance 4 80% @
active, though generally firm, this week, influenced by 4 81 and grain for payment 4 81% @ 4 813^.
easy money in New York and lower discounts in Lon­
don. The fact that there was no fast mail steamer
The following gives the week’s movement of money
until Thursday tended to restrict business early in to and from the interior by the New York banks:
the week, and the indications that the Bank of England
Received by
Shipped by
Net Interior
Week ending January 18 1907.
would reduce its discount rate and the uncertainty as
N . Y . Banks. N . Y . Banks.
Movement.
S6,190.000
to the extent of such reduction contributed also to Gold ________________________ _______ S12.536.000 36,346,000 Gain
1.218.000
2,065,000
847,000 Gain
limit the volume of transactions. Long was in good
Total gold and legal tenders______
814,601,000
$7,193,000 Gain S7,408.000
request because of the easier tone for discounts in the
With Sub-Treasury operations, the result is as folopen market at London and for this reason it was
preferred to short for remittance. There was some lows:
buying of the latter for the payment of maturing finance
Out of
Into
N et Change in
Week ending January 18 1907.
Banks. •
Banks.
Bank Holdings.
bills and also to pay for American securities which had
57 .193.000 Gain $7,408,000
been returned from Europe. Though the London Banks' interior m ovem ’ t as a b o v e .. S14.601.000
35,100,000
28.600.000 Gain
6,500,000
Stock Exchange’s settlement occurred on Wednesday,
S49.701.00C
S35.793.000 Gain S13,908.000
there was no special demand for cables incident thereto,
The following table indicates the amount of bullion
reflecting a small bull account in Americans.
Easier
in the principal European banks:
rates for money in our market encouraged some buy­
ing of long sterling for investment early in the week,
January 17 1907.
January 18 1906.
but this demand subsided when the indications clearly Bank of
Gold.
Silver.
\ Total.
Gold.
Silver.
Toal.
pointed to still lower discounts in London and to a fall
£
£
£
£
£
£
n gla n d .. 32,162,824
_________! 32,162,824 30,975,515
..............
30,975.515
in the Bank rate. As the market for short rose, in FEra
n ce ___ 105,965,560 39,633,560 145,599,120 114,522,821 42,493.650 157,016,474
a 30,200.250 10,066.750 40.267,000 34.717.000 11,573,0001 46,290 000
response to the demand, there was some speculative RGermany
u s sia ___ 118,051,000 4,735,000122,786,000 103,610,000 3,629,000 107.239,000
Aus.-Hunb 46.433.000 11,780,000 58,213,000 45.209.000 12,294,000 57,503.000
selling, apparently with the object of checking the ad­ S p a in ____ 15.387.000 24,201,000 39,588,000 15.038.000 22,949,000: 37,987,000
Ita ly_____ 32.196.000 4,700,100 36,956,100 27.858.000
3,532.500 31,390,500
vancing tendency. On Wednesday the market was N ’ therl’ ds 5,539,400 5,719,000 11,258,400 6,605,200 6,028,900 12,634,100
N at.Belg.a 3,276,667
1,638,333
4,915,000 3,154,667
1,577,333
4,732,000
quite active and strong, as the result of the demand Sweden . . 3,996,000 ________ 3,996,000 3,791,000 ________ 3,791,000
ot. week 393,207,701; 102,533,743 495,741,444:385,481,206 104,077,383 489,558,589
for Thursday’s mail; when this inquiry was satisfied, TPrev
.week 389,470,700 101,310,560 490,781,260 381,562,c8 7 103,058,588 484,620,975
i
1
1
rates fell off, but there was a recovery and a firm tone
a The division (between gold and silver) given in our table o f coin and bullion
on Thursday on the announcement of the reduction n the Bank o f Germany and the Bank of Belgium is made from the best estimate
we are able to obtain; in neither case is it claimed to be accurate, as those banks
make no distinction in their weekly returns, m erely reporting the total gold and
in the Bank rate. Commodity bills, and especially silver;
but we believe the division we make is a close approxim ation.
b The Austro-Hungarian Bank Statement is now issued in Kronen and Heller
those against cotton, were in good supply during the instead
of Gulden and Kreutzer. The reduction o f the former currency to sterling
Pounds was b y considering the Gulden to have the value of 80 cents. As the
week and they were promptly absorbed.
Kronen has really no greater value than 20 cents, our cable correspondent in
in order to reduce Kronen to Pounds, has altered the basis of conversion
Nominal quotations for sterling exchange are bLondon,
y dividing the am ount of Kronen b y 24 instead o f 20.
4 82 @ 4 8 2^ for sixty day and 4 86 @4 86>£ for
sight. The market was firm on Saturday of last HOW RAILROAD DEVELOPMENT IS HAM­
PERED—THE SOUTHERN R A IL W A Y.
week, and, compared with the previous day, long
The railroads of the United States just now are be­
rose 25 points to 4 8075@4 8085 and cables 10
points to 4 8565@4 8575; short was unchanged. tween the devil and the deep sea. On the one hand
On Monday long fell 10 points to 4 8065@4 8075, they have such a surfeit of traffic that their facilities,
short rose 40 points to 4 8520@4 8525 and cables 45 enormously though they have been increased in re­
points to 4 8610@4 8615. On Tuesday long advanced cent years, are unable to handle it with due economy
15 points to 4 8080 @ 4 8090 and short fell 5 points and reasonable promptness. Every motive of selfto 4 8515@4 8520, while cables declined 15 points to interest on the part of the railroads and the public
4 8595@4 86. On Wednesday long rose 25 points to alike demands that this situation be relieved and re­
4 8105(5)4 8110, short 5 points to 4 8520@4 8525; lieved quickly. The carriers are ready and willing
cables fell 5 points to 4 8590@4 86. On Thursday to do their part to furnish such relief. Government
long advanced 40 points to 4 8125 @ 4 8150, short 15 commissions and other public bodies have taken the
points to 4 8530@4 8540, and cables 10 points, to 4 86@ subject up and are urging drastic measures to force
4 8610. The market was strong on Friday at an ad­ the carrying interests to add to their facilities to the
vance of 20 points for short and of 25 points for cables. extent supposed to be necessary. But while on the
The following shows daily posted rates for sterling one hand there is a concensus of opinion that the rail­
exchange by some of the leading drawers:
roads must spend enormous further amounts of new
capital, our legislators and Government officials are
T
uts.,
W
ed.,
M
o
n
.
.
F r i.,
Thurs.. F ri..
Jan. 11 Jan. 14 Jan. 15 Jan. 16 Jan. 17 Jan. 18 doing everything within their power calculated to
J 60 days 4 81
Brown
82
82
82*4
81*4
81H
make it difficult to raise the needed money. Through
86
Bros. & C o----------- -\ S ig h t.- 4 85*4
86
86
86*4
86
160 days 4 81
82
Baring
81*4
82
81
81*4
legislative enactments and by assaults on capital and
86
& C o......................... ."1 S ig h t._ 4 85*4
86
86
86
86
160 days 4 81
Bank British
82
82
81*4
81 *4
81*4
S ig h t-. 4 85*4
North Am erica-----86
86
wealth, confidence has been so deeply disturbed that
86
86
86
60 days 4 81
Bank of
82
82
81*4
81*4
81*4
S ig h t.. 4 85*4
M ontreal_________
86
86
86
86
86
for the last twelve to eighteen months the market for
60 days 4 81
82
Canadian Bank
82
81*4
81*4
81*4
86 «
of Com m erce_____ S ig h t.. 4 85*4
86
86
86
86
new bond issues has been almost completely gone.
4
81
60
days
82*4
H eldelbach, ick el81*4
82
82
81*4
86
heimer & C o............ .1 Sight- - 4 85*4
86
86
86*4
86
During the period referred to, quite a number of
Lazard
60 days 4 81
81*4
82
82*4
82
81*4
F reres____________
86
S ig h t.. 4 85*4
86
S6
86*4
86
bond syndicates formed for the purpose of floating new
Merchants’ Bank
60 days 4 81
82
82
81*4
81*4
81*4
of Canada.
86
86
-I S lg h t .. 4 85*4
86
86
86
bond issues have been wound up with a large part of




128

THE iCHRONICLE.
_____

the bonds still on their hands, the investing public
having shown no disposition to purchase. At the same
time, by Government action, railroad rates arebeing
steadily reduced and the appetite of shippers is being
whetted for further reductions. In like manner the
taxes of the roads are being heavily increased. Then
many of the States are imposing penalties for delays
in the forwarding of freight within State borders, and
our National Legislature is pondering on the advisa­
bility of subjecting the carriers to similar fines and pen­
alties on inter-State shipments. In addition, and by
no means least of all, the cost of labor, of materials
and supplies, and of everything else needed by the
roads in their operation, is steadily rising. The con­
gestion of traffic still further complicates the situation,
for the lines are so choked with freight that it is no
longer possible to move the same in an economical
manner. The result is that expenses are being so
greatly added to that the augmentation in the expense
account far exceeds the gains in gross earnings, large
though these continue to be. The Southern Railway
furnishes a capital illustration of the kind. For the
five months of the fiscal year from July 1 to Nov. 30,
gross earnings of the road show a gain of $1,428,440,
but net earnings record a loss of $719,778, owing to
the fact that expenses have risen for these five months
in the sum of $2,148,218.
In this situation a letter of W. W. Finley, the new
President of the Southern Railway Co., which has been
issued the present week, is both timely and pertinent.
It is this letter that has given rise to the report of a
proposed issue of short-time notes, and certainly, as
the company is in need of new capital, and bonds
cannot be sold except at a sacrifice, there would be
nothing very strange in a resort to such a device. It
should be noted that President Finley’s letter is ad­
dressed, not to the stockholders of the company
but “ to the public.” Mr. Finley’s desire is to acquaint
the communities served by the lines of the system with
the facts—to show the difficulties under which the
system is laboring, and how comprehensive have been
the plans of the managers for furnishing adequate
transportation services, and to make it apparent that
the interests of the railroads and of the public alike
are certain to suffer unless the present public attitude,
as expressed in legislative and governmental action,
is changed so as to make the conditions less unfavora­
ble to the railroads for carrying on the business of
transportation, and for prosecuting to completion the
extensive improvement and development work neces­
sary to enable them to fulfill their public duties.
Mr. Finley begins by admitting that at present
railroad service generally, including that of the South­
ern Railway, is far from satisfactory. He points
out, however, that as far as the Southern itself is con­
cerned, one exceedingly potent cause has been the ex­
traordinary industrial development of the South, and
he quotes from the late President Spencer’s remarks
to indicate the magnitude and extent of this developopment. He also gives statistics drawn from the
Southern Railway’s own traffic records to show how
great the growth and expansion in the traffic work
required of the system has been. In 1895 the number
of tons of freight carried one mile by the Southern was
1,098,932,884; in 1906 the number was 4,488,915,839,
giving an increase of over 300%, or, allowing for the
additions to length of road operated in the interval, an




[V o l.

l x x x iv

.

increase of over 138%. No one, we think, will attempt
to gainsay Mr. Finley’s assertion that nowhere in
the United States, save in the two States of the ex­
treme North West, Washington and Oregon, has there
been such industrial development as in the South.
Nor will any one be inclined to dispute his claim that
outside of the energies and efforts of the Southern
people themselves, the Southern Railway has been one
of the chief factors in the South’s wonderful develop­
ment.
Obviously, the vast increase of traffic incident to
such a commercial awakening, required, as Mr. Finley
states, a very striking increase in transportation facili­
ties, and the management of the Southern Railway Co.
throughout its existence, has not been unmindful of
that fact. It did not wait for the coming of the de­
velopment itself before attempting to increase to the
utmost extent its transportation capacity. The com­
pany has been in existence not more than about
twelve years, and inherited from the old Richmond &
West Point Terminal Co., which had become bankrupt
and unable to carry on its functions, a lot of mileage
of light and faulty construction, poorly equipped and
utterly unprepared to handle any considerable traffic.
Figures are presented to show what an extensive
amount of money the company has spent in pur­
suance of its policy of betterment and development.
For new equipment alone it has spent or contracted
to spend $49,322,569; for new, improved and heavier
rail, $10,880,000;
for double-tracking, reducing
grades and changing alignments, $13,687,400; for
additions and improvements to yards, real estate,
roadway and structures, etc., $8,229,605; adding
various other similar items, the aggregate of expendi­
ture for work done and contracted for, for the purpose
of handling the traffic, is brought up to the large sum
of $96,482,945. The number of locomotives has been
increased from 623 to (received and contracted for)
1,544; the number of passenger-train cars from 487
to 1,008, and the number of freight-train cars from
18,924 to 58,491. In reality these figures do not indi­
cate fully the extent of the additions to equip­
ment, since the increased power of the locomotives
and the increased tonnage capacity of the cars have
added much more to the equipment capacity than
the number of added units would appear to represent.
For instance, the average capacity of the freight cars
has increased 28.38%.
It is thus evident that the company has not over­
looked its obligation to increase its facilities in antici­
pation of the growth of traffic. Nevertheless, the
company has been and still is, Mr. Finley declares,
hampered by two conditions. One is the large amount
of fresh capital required and the other the difficulty
of securing adequate and efficient labor, of promptly
getting its construction work done, and of obtaining
the rolling stock, rail and other material essential to
improved facilities. As illustrating the delay in
obtaining rolling stock, it is pointed out that on a
contract for new equipment given Nov. 1 1905 and
which was to be filled by March 1906, 177 cars still
remain undelivered; on a contract given Feb. 1 1906
to be filled on or before October 1906, 17 locomotives
and 2,218 freight cars still remain undelivered. Mr.
Finley also gives illustrations of the delay experienced
in getting double-track work done on various parts of
the system, owing to the difficulty the contractors have

J a n . 19 1907. J

THE CHRONICLE.

in obtaining the necessary labor or material, or both
combined. He asserts that one of the greatest needs
of the South is that its railroads should have addi­
tional track capacity. No matter how many locomo­
tives and cars may be available, it is manifest that
the number which can be moved is limited by the
track capacity. The work of providing the necessary
additional track will require a vast in-put of capital.
How this capital is to be obtained, he states, is every­
where a matter of grave concern to railroad managers.
It cannot be obtained from the current operations of
the properties; hence it must bo borrowed.
It was in anticipation of the need for constantly
increased facilities that the Southern Railway last
year created its new $200,000,000 mortgage. Of
these bonds $20,000,000 were at once sold and the
proceeds are being spent as rapidly as the work can
be done in acquiring the added facilities. As bearing
upon the ability of the roads to obtain the means to
make the additions so imperatively required, some
suggestive figures are given. The present situation is
an immense increase in all expenses without any
increase in rates—in fact with the proposition almost
universally made to decrease rates by legislative
enactment. Since 1898 bridge timber has advanced
from $9 36 to $20 52 per thousand feet; crossties
from 28 cents to 34.5 cents per tie; steel rails from
$17 75 per ton to $28 00; locomotives from $11,392
to from $16,000 to $20;000; passenger coaches from
$6,315 to $9,468; freight cars from $500 43 to $765 00;
coal cars from $368 to $1,135. The cost of labor has
increased per mile of road from $1,621 67 in 1895 to
$2,513 64 in 1905 and $2,874 71 in 1906. The taxes
of the company per mile of road have since 1895
increased 63.41%. To these enlarged outlays, it is
stated, must be added the excessive verdicts of juries
in personal injury cases. Furthermore, there is a
marked tendency on the part of many of the States
to regard any failure of service as wilful and. to impose
upon the carrier a heavy penalty therefor.
Mr. Finley well observes that the imposition of
penalties will not build railroad tracks, supply equip­
ment or enlarge and simplify terminals, nor would it
benefit the transportation service as a whole, but on
the contrary would tend to produce injustice and dis­
crimination between persons and localities.
Under these circumstances—with greatly increased
expenses for material, for labor, for taxes, for penalties
and for damage claims, and with the demands of the
public for better facilities and greater safety of opera­
tion—Mr. Finley thinks it must be apparent that a
reduction of revenues must conflict with the interests
of the public in its desire to obtain what is insisted
upon. He feels it his duty to advise the public that,
with decreased revenues,‘the railroads of the country
will be utterly unable to pursue successfully their
efforts to provide better facilities and greater safety
of transportation. He goes a step further—and that
is the kernel in the argument and the conclusion to
which all these facts and figures lead; he declares the
time is near where it may be absolutely necessary for
the public to take the choice between better and safer
facilities on the one hand and lower rates on the other.
In the nature of things it is impossible to have both.
We think Mr. Finley is to be commended for having
set out the situation in such a candid way and the
public should ponder well the results that must follow



1 29

from adherence on its part to the present mistaken
course of hampering and embarrassing the roads.
THE BANK OF ENGLAND RATE.
We called attention, at the time when the Bank of
England directors , in October, advanced their dis­
count rate to 6%, to the question frequently asked
at that time on the money markets of the world,
whether the Bank had or had not lost its old time
power of controlling, by such an act, the course of
the foreign exchanges.
We showed that, so
far as the immediate movement following the Bank's
announcement was concerned, that power had un­
doubtedly been preserved unimpaired. The classic
principle that, by fixing a higher bid for money on
the London market, London capital could be called
home from foreign markets, and, in certain cases,
foreign capital attracted from those markets to Lon­
don, still held good.
The movement of gold to the United States, which
was in full swing at the time the Bank of England be­
gan its operations with the discount rate, ceased en­
tirely and has not subsequently been resumed. It
is true that a movement of gold to Egypt larger than
had been anticipated occurred after the 6% London
rate was fixed, and it is also true that Argentina took
substantial amounts of gold. These were, however,
seasonable demands, which had in a general way been
reckoned in with all forecasts of the market, and,
furthermore, the maintenance of its 6% rate by the
Bank of England, and the more or less vague intima­
tion of what rate might be fixed if severe pressure
should continue, led directly to the granting of assist­
ance by the Bank of France in the shape of releasing
its own gold for Egypt. But the autumn strain on the
money markets once completed, cash flowing back
from the provinces, and arrivals of Transvaal gold in
London being left to the undisputed control of the
Bank of England, it followed that the bank’s position
should this month normally improve with great
rapidity. A week ago, when its ratio of reserves to
liabilities had advanced from the 353^% of Oct. 10,
and the 3 3 ^ % of Jan. 2, to 40%, or the normal mini­
mum, it was rather generally predicted in London that
the 6% rate would be reduced. There was the greater
expectation of such a step from the fact that a 6%
rate has never but once in the four past decades been
maintained at the Bank of England, even in years of
urgent stress, after the opening week of January. The
Bank, however, took no such action on its rate last
week, London’s own explanation being that a moderate
advance which had occurred in New York exchange
on London stayed the hand of the Bank’s directors..
They apparently even then entertained some misgiv­
ing lest New York’s demand for gold to sustain what
London considered an unduly expanded speculative
position would be resumed.
The events of the present week put an end to appre­
hension from this quarter. Not only did the New York
money rate decline 'and the rate for sterling exchange
rise well above the gold-import line, but liquidation of
speculative accounts on the New York Stock Exchange
occurred on an extensive scale. This meant not only
that American exchange had ceased to move against
London in such a way as to cause misgiving, but that
the basis for expecting a movement of that sort had
itself ceased to exist as it had before. At the same

130

THE CHRONICLE.

time, the Bank gained gold again in substantial
amount, bringing its gold stock to a figure $15,000,000
above that of three weeks ago, its banking reserve being
increased $19,000,000 for the same period, and its ratio
of reserve being raised to the comfortable figure of
4534%—actually the highest for this date, except for
1905, in any of the ten past years. Few people, there­
fore, were greatly surprised when the London Bank
rate last Thursday-came down to 5%.
In at least some measure, the financial situation
generally is cleared up by this action of the Bank.
London is still the financial centre of the world, and
movement of rates at its central institution is still an
accurate index to the condition of capital and credit
throughout the financial world at large. There are
several points to observe, however, with regard even
to the present rate. . One is that, even with a 5% rate
established, the Bank’s charge for money is abnor­
mally high for this time of year. Four or three per
cent at this date is usually deemed high enough.
Another consideration is that relaxation in money
rates in the first few weeks of a new year is not always
a safe criterion to the later movements of the season.
It still remains for the market to test the extent to
which the Bank of England’s resources will again be
pressed upon later in 1907 by demands for capital by
other markets. That London, as the world’s free
gold market, must chiefly bear the strain of providing
for such needs, and that automatic regulation of the
foreign exchanges has become somewhat less easy since
its large liquidation of foreign securities, chiefly Ameri­
can, during the past ten years, are facts which every
one must admit. If capital is to be subject, this com­
ing year, to a strain such as that of the past six months,
we can hardly reckon confidently that we have seen
the end of abnormal rates at the Bank of England.
We have observed, in some discussions of the matter,
a disposition to assume that the 6% rate, so long
maintained this season at the Bank, is a sign of finan­
cial weakness, or at least of financial vulnerability,
on the part of London. That there are one or two
respects in which that market is less advantageously
placed to-day, in relation to other markets, than it
was, say a dozen years ago, we have ourselves already
pointed out. It must also be admitted that the course
of the Bank’s directors during September and October
displayed just sufficient uncertainty of opinion and
vacillation of purpose to give seeming color to the
contention that they were startled by the position
into which Lombard Street had drifted. For this the
explanation doubtless is that the London banking
community as a whole misread the signs of the times
last spring and summer, predicted easy money for
the autumn, and was therefore caught very much
unawares when the real “ squeeze” came.
But that the 6% rate itself was a sign of weakness,
or of an altered position in any respect, financial his­
tory gives no ground for contending. It may in fact
be said that a London Bank rate as high as this, or
higher, lias marked every past year when, as in 1906,
a world-wide “ boom” in trade, with exceptional de­
mands on capital by merchants, bankers and specu­
lators in every market, caused aggressive competi­
tion for international capital. It is not true that the 6%
rate has in the past been exclusively or even primarily
a sign of distress in England’s own finance. Such it
may be alleged to have been in 1890 and 1866, though



[V ol.

l x x x iv

.

even then the high Bank rate was fixed long before the
money market strain converged, with unpleasant re­
sults, on London. But the 6% rate of 1882 and the
6 to 9% rates of 1872 and 1873 were as distinctly
measures adopted to meet an abnormal drain of cap­
ital to other markets, excited by a world-wide industrial
and financial “ boom,” as was the 6% rate of the
present season. In neither of these two periods could
it have properly been alleged that the high London
Bank rate was a signal of loss of prestige by the Lon­
don market.
It is too early to predict the probable action of the
Bank these next six or eight months. That its action
on the rate will continue, as in the past, to provide
a trustworthy barometer to the real situation on the
world’s money markets as a whole, cannot be doubted.
THE DECREASE IN LAST YEAR’S ANTHRACITE
COAL PRODUCTION.
It has often been observed that the anthracite coal
trade does not always follow the course of general
trade, but seems to pursue an independent path—
showing, not infrequently, a decrease in production at
a time of rising prosperity and great activity in in­
dustrial affairs, and vice versa. Some such reflection
will undoubtedly occur to the reader when he sees the
anthracite figures for 1906 and notes that they show a
decrease in output as compared with the twelve
months preceding of nearly 6,000,000 tons. How­
ever, the anthracite trade is governed now by totally
different conditions from those which formerly pre­
vailed. There was reason for erratic movements in
the trade when chaos rather than order reigned—when,
through cuts in prices, purchases and consumption of
coal might for the time being be immensely stimulated,
or when the managers, brought suddenly to their senses
by impending bankruptcy, would seek to restore prices in
part, only to find that the market for coal had, as it
were, completely vanished—dealers and consumers
having stocked up in advance to such an extent at the
lower prices that they had no need for coal at the higher
figures.
No such conditions prevail at this time. The an­
thracite trade is now managed in accordance with com­
mon sense rules, thanks to the community of interest
existing among the various carrying and producing
interests in the trade. Different reasons therefore
must be sought for the 1906 falling .off in production.
And these reasons can be found in abundance. In the
first place there were disagreements with the laborers
or miners. There was suspension of mining through
the whole of the Pennsylvania anthracite fields during
April and the first ten days of May. The contract
between the miners and operators, entered into after
the great miners’ strike in 1902, and which was based
on the award made early in 1903 by the Anthracite
Strike Commission appointed by President Roosevelt,
expired April 1 1906, and the miners were unwilling to
enter into a new contract on the same basis. Speak­
ing through Mr. John Mitchell’s organization, the
United Mine Workers, the miners asked for decreased
hours and increased pay, on top of the large increases
they had obtained in 1903 and in previous years.
The suspension of mining, which was complete, was a
step taken by the miners pending the conclusion of
the negotiations between them and the operators for
a new contract more favorable to the men, as they

J a n . 19 1907

THE CHRONICLE.

131

combine the 55,698,595 tons shipments for 1906 with
the 61,410,201 shipments for 1905 wre get an average
for the two years—and this seems a fair way of treating
the matter—of 58,554,398 tons, which compares with
57,492,522 tons for 1904, showing a relatively small
increase, and with 59,362,831 tons in 1903, in which
last year, however, the shipments were of more than
normal extent by reason of the strike of 1902. Other
things being the same, this average for the last two
years is smaller than one would expect it to be, except
for the possible intervention of extraneous causes.
One such extraneous circumstance will easily be
recalled—and a very important one, too, as far as
the anthracite trade is concerned. We refer to the
mild winter which prevailed, especially during January
and February, when the demand for coal for family
use is ordinarily at its maximum. In this cit)'' the
temperature at times in January 1906 rose to abcve 60
degrees and January 20 to January 23 a warm wave
spread over the northern part of the country. Many
different places in the North and West reported the
warmest January in twenty to thirty years. In Feb­
ruary the weather was almost equally mild. Bearing
this fact in mind, together with the other circumstances
already narrated, and the large decrease in anthracite
production and consumption at a time of great trade
prosperity, is no longer difficult to understand. It is
well enough to note, too, that at the close of 1906 the
total of the stocks of coal at tidewater was rather
smaller than we are accustomed to see it at the end
of the year. In other words, on Dec. 31 1906 these
tidewater stocks were 583,125 tons, against 714,143
tons December 31 1905, 715,715 tons December 31
Months.
1906.
1905.
1904.
1903.
1902.
1901.
J a n u a r y ------ 5.45S.0S4
4.408.57S 4,134.245 5.964,950 4,538,13,S 5,192,290 1904 and 714,276 December 31 1903. We show here­
February . . . 4.712,099
3.922,001 4,326,269 5,070,608 3,741,253
4,123,594
M a r c h ........... 5,797,167
5,258,567 4.375,033 5,211,450 3,818,767 5,002,315 with the anthracite shipments for each year back to
488,203
5.27S.0U 5.407.78G 5,044,998 4,924,829 3,715,295
A p ril................
It should be understood that these shipments
M a y ------------- 3,254,230
6,005.158 5,285,079 5.156,449 1,708,892 4,693,562 1873.
June .............. 5,676,018
5,844,052 5,728,795 5,436,497
92,203 4,792,443
J u l y ................ 4,981,448
4,546,743 4,623,227 5,377,495
239,079 3,699,628 do not include coal used at the mines nor coal ’sold
August............ 5,400,511
5.041,838 4,325,734 5,169,402
321,774 4,711,517
S e p te m b e r ... 4,527,886
5,082,232 3,907,600 4,654.444
455,883 4,379,143 locally, nor yet the consumption by the anthracite
O ctob er.......... 5,384,708
5,205,094 5.131.542 3,925.642 1.276.257 4,938,033
N o v e m b e r .-. 5,182,15(3
5,421,584 5,124,068 4,091,147 4.984,384 4,097,329 carriers themselves.
Probably, to get at the total
D ecem ber . . . 4,836,02lS
5,395,113 5,063,144 4.259,749 5,099,431 3,623,453
output it would be necessary to add from 10 to 15%
Total tons.55,698,595 01.410,201 57,492,522 59.302,831 31,200,890 53,50S,002
the figures of shipments.
It appears from these figures that for the calendar to
Y ea r.
T o n s.
I Y ea r.
T o n s.
9 0 6 .............................................5 5 ,6 9 8 ,5 9 5 18 8 9 ............................................. 3 5 ,4 0 7 ,7 1 0
year 1906 the anthracite shipments to market from 1190------------5
----- 61,410,201 |1 8 8 8 _________________________3 8 ,1 4 5 ,7 1 8
4------------------------------------- 57 ,4 9 2 ,5 2 2 |18 8 7 ----------------------------------_ .3 4 ,6 4 1 ,0 1 7
the Pennsylvania fields were only 55,698,595 tons, 11 90
9 0 3 . _______________________ 59,3 6 2 ,8 3 1 I 18 8 6 _________________________ 3 2 ,1 3 6 ,3 6 2
2 ------------------------------------- 3 1 ,2 0 0 ,8 9 0 ) 1 8 8 5 ....................................... ..3 1 ,6 2 3 ,5 2 9
against 61,410,201 tons in the calendar year 1905. 1190
90 1--------------------------- ----------5 3 ,5 6 8 ,6 0 4 1 1 8 8 4 _________________________3 0 ,7 1 8 ,2 9 3
1 9 0 0 . ............. ................ ........... 45 ,1 0 7 ,4 8 6 1 88 3____________ ___________ 3 1 ,7 9 3 ,0 2 7
It may seem strange that no determined effort should 1 8 9 9 _______ _________________4 7 ,6 6 5 ,2 0 3 1 8 8 2------------------------------------- 2 9 ,1 2 0 ,0 9 0
1 8 9 8 . . _______ ______________ 41,8 9 9 ,7 5 1 1 8 8 1 . - ........................... ............2 8 ,5 0 0 ,0 1 7
41 ,6 3 7 ,8 0 6 1 8 8 0________________________ 2 3 ,4 3 7 ,2 4 2
have been made in the later months to retrieve the 11 88 99 76 ________________________
.............................................4 3 ,1 7 7 ,4 8 3 ] 1 8 7 9 ......... ................................... 2 6 ,1 4 2 ,0 8 9
...............
............................
1 1 ,4 7 7 11 8 7 8 - . . ______ ______________ 1 7 ,6 0 5 ,2 6 2
1
8
9
5
losses of the earlier months. An explanation, how­ 1 8 9 4 .............................................44 16 ,5
,3 9 1 ,2 0 0 11 8 7 7 _________________________2 0 ,8 2 8 ,1 7 9
1
89
3............................................4
3
,0
8 9 ,5 3 6 1 1 8 7 0 ________________________ 1 8 ,5 0 1 ,0 1 1
ever, is found in the fact that during all the latter part 1 8 9 2 --------------------------- ----------4 1,893,320
1 1 8 7 5________________________ 1 9 ,7 1 2 ,4 7 2
1 8 9 1 . : . . . ---------------------------4 0 ,4 4 8 ,3 3 6 1 1 8 7 4 _________________________2 0 ,1 4 5 ,1 2 1
of 1905 a strike in 1906, with the expiration of the 1 8 9 0 ------------------------------------- 3 5 ,8 5 5 ,1 7 4 | 1 8 7 3 — _______ ______________ 2 1 ,2 2 7 952
miners’ contract, had been nearly everywhere looked
As to the amounts passing over the different roads,
forward to and preparations made in advance for the it is almost superfluous to say, in view of the large
event. The “ Engineering and Mining Journal” of decrease in the total shipments in 1906, that no one
this city, in its annual review, points out that the ship­ of the leading coal-carrying roads transported as much
ments of 1905 were swollen b}r large quantities of coal coal to market in 1906 as in 1905. In the ratios,
sent from the mines in November and December and however, there have been larger or smaller fluctuations,
stored at various points along the lines of the coal- and under the contraction in the total movement
carrying roads in anticipation of a possible strike. some roads have fared better than others. The
It thus happened that, though in May 1906, owing to Lehigh Valley’s proportion was appreciably reduced;
the idleness at the mines, only a comparatively trifling that of the Lackawanna was considerably increased,
amount of coal came to market, there was at no time though in the case of that road such increase is simply
any shortage in supplies at consuming points, the a recovery of what the road had lost in the years
stored coal being sufficient to meet all demands until preceding. For 1906 the Lackawanna’s percentage of
production was resumed.
the total shipments was 16.52, as against 15.56 in
There can be no doubt that this is an accurate 1905; but going back to 1902 we find that its propor­
statement of the situation of affairs. And yet in and tion in that year wras 16.51%, or almost precisely
by itself it does not seem entirely sufficient to account the same as for 1906. There is, of course, a thoroughly
for the large decrease for the twelve months. If we good understanding among the different coal-carrying

hoped, and was in the nature of a weapon to compel
the operators to accede to the terms demanded. But
eventually the miners were forced to give way. Popu­
lar opinion did not support them in their demands, as
the consuming public saw very clearly that a further
advance in wages meant a further advance in price of
coal, and this consumers were unwilling to pay, espec­
ially as they felt the miners were already faring ex­
ceptionally well. Mr. John Mitchell, with great perspi­
cacity, seemed to recognize this fact, and on May 7 the
miners agreed to accept the t§rms originally proposed
by the anthracite operators and continue the award
made by the Strike Commission for another period of
three years, to April 1 1909, with only some slight and
insignificant modifications.
It seems to be correct to say that the miners in no
essential particular gained anything by their course. In
the meantime, however, coal mining was stopped, and
the effect on the year’s output can be judged w^hen we say
. that in April the shipments to market were only 488,203
tons, as against 5,278,041 tons in April 1905 and 5,407,786 tons in April 1904. For May the shipments
were 3,254,230 tons, against 6,005,158 tons in 1905
and 5,285,079 tons in 1904. The loss sustained at
that time was never subsequently recovered. Indeed,
no serious attempt seems to have been made to make
it up. In the remaining seven months of the year,
the monthly figures only in three instances showed
larger totals than for the corresponding month of 1905.
In the other four months there were decreases, as will
be seen from the following comparative statement,
showing the monthly shipments to market for each of
the last six years.




THE CHRONICLE.

132

roads, but the fact that these percentages of the total
shipments over the different routes varies more or
less from year to year is evidence that no hard and
fast rule exists for the division of the traffic among
the lines. The table we now present shows the ship­
ments over the leading roads in each of the last four
years.
---------190G--------Tons.
%
R e a d in g ------ 11,258.295 20.21
X-ehigh V a l . . 8,536.254 15.32
Cent. N . J — 6,983,217 12.54
D . L . & W - - 9,201,875 16.52
D el. & H u d . 5,346,695 9.60
Penn. R K . . . 4,856.004 8.72
Penn. Coal-l
E rie------------} 5,636,537 10.12
N .Y .S .& W .J
N .Y .O .& W - 2,444,273 4.39
D el. S . & S — 1,435,445 2.5S

---------1905--------- ------------1904--------- ---------1903--------Tons.
%
Tons.
%
Tons.
%
12.574.502 20.48 11,399,622 19.83 11,490,963 19.36
10,072,120 16.40 9,611,426 16.72 9,737,100 16.40
7,983,274 13.00 7,201,276 12.52 7,404,612 12.47
9,554.046 15.56 9.333.069 16.23 9,575,551 16.13
5,640,528 9.19 5,276.797 9.18 5,927,283 9.99
4,890,635 7.96 4,765,953 8.29 4.555,459 7.67
6,225,622 10.14

5,711,173

9.93

6.343,852 10.68

2,864,096 4.66
1,605,378 2.61

2,646,730
1,546,470

4.61
2.09

2,693,462
1,634,489

4.54
2.76

T o ta l-------- 55,698,595 100.0 61,410,201 100.0 57,492,522 100.0 59.362,831 100.0

With reference to prices, the changes during 1906,
as in the years immediately preceding, were limited
to those made in accordance with pre-arranged plans.
The practice in recent years has been, as is known,
to have a fixed schedule of prices (on the basis of $5
a ton for egg, stove and chestnut and $4 75 for broken
or lump coal), but to allow a rebate from these figures
during the spring and summer months, beginning with
the 1st of April. The rebate is 50 cents a ton the first
month, then drops to 40 cents, 30 cents, 20 cents and
10 cents with each successive month thereafter, until
in September the rebate disappears altogether and the
full winter schedule goes into effect. During 1906 there
was some deviation from this practice, occasioned by
the cessation of work at the mines during April and
part of May. That is to say, the discounts of 50 cents
and 40 cents respectively in April and May were
omitted, owing to the stoppage of mining. The dis­
counts, however, of 30 cents, 20 cents and 10 cents
for June, July and August, respectively, were given.
As to the tidewater prices of the steam sizes, the
“ Engineering and Mining Journal” states that these
were fairly uniform during 1906, closing at $2 80@$3 00
for pea, $2 25@$2 50 for buckwheat, $1 45@81 50
for rice and $1 30@$1 35 for barley.
RAILROAD GROSS EARNINGS FOR DECEMBER.
Returns of railroad gross earnings appear to be
growing less favorable. At all events, our compila­
tion for December reveals quite a small improvement,
both in amount and ratio. To be sure, as only
a short time has elapsed since the close of the
month, the statement is necessarily incomplete, com­
prising only the roads which make it a practice to
furnish early preliminary returns. But these early
returns usually afford a tolerably accurate guide to
the general results, and hence it is significant that the
gains are gradually dwindling in amount—that further­
more, in the case of some rather prominent roads,
increases are being replaced with decreases. Of course,
one reason for diminishing improvement is found
in the circumstance that comparison is now with
unusually large and full figures. For many successive
years the roads have been adding to their earnings
in a very striking way. As a consequence the totals
have risen to such magnitude that present and future
additions, even with a continuance of business activity,
can hardly be expected to be on the same large scale
as in the past.
There has, however, been another and a special
cause in operation of late tending to restrict and limit
the amount of gain—at least in the case of certain
oads. This cause undoubtedly explains the large loss



[V o l .

l x x x iv

.

reported by the Great Northern Ry. for the month,
amounting to no less than $462,986. Our allusion is
to the scarcity of fuel which recently existed in the
Northwest. Because of that fact the roads in that
part of the country were obliged to give coal the
preference over all other classes of freight, with the
result of disarranging their entire freight schedules,
and leaving them short of equipment to transport other
classes of freight, thereby adding to the congestion of
traffic which had developed even before this circum­
stance had come into play. In brief, the roads were
unable to transport the amount of freight they would
have moved had normal conditions prevailed. Of
course, to the extent that this factor is responsible
for the dwindling amount of improvement (treating the
roads collectively) the influence must be regarded as
purely transitory and temporary. Before long it
ought to be possible to resume the running of freight
trains in the manner which experience has demon­
strated enables the roads to carry the largest volume
of business with the facilities at command. It should
also be remembered that the Great Northern and some
other roads in the same section suffered to some
extent from snow blockades in December.
Our statement comprises 65 roads, operating 95,936
miles of line. On this mileage there is a gain of
$4,469,215, or 5.64%, as compared with the same
month last year. The improvement follows $5,441,832
increase, or 9.54%, reported on 81,238 miles of road
in Decemper 1905 over December 1904. As already
stated, the gains in December have been cumulative
for a great many years past. The following summary
of the December totals furnishes testimony to the fact:
M ileage.

Gross Earnings.

December.
Year
Y ear
In Given. Preced. cr'se.
Year.
189 6 ......... ..
1897----------1898..............
1899_______
190 0 ----------1901_______
190 2 ----------1903_______
1904............
190 5 _______
1906..............

Roads M iles.
130
133
129
113
101
99
80
71
67
57
65

M iles.

93,075 92,282
99,418 98,122
96,285 95,191
98,508 96,037
96,447 93,002
103,190 100,094
100,038 98,801
89,279 87,007
84,143 82,607
81,238 79,804
95.936 93,553

%
0.86
1.32
1.15
1.93
3.70
2.78
1.86
2.54
1.86
1.76
2.55

Year
Given.

Year
Preceding.

S

S

40.895,711
50,020,193
49,630,312
55,557.813
59,000,431
04,922,983
70,709.049
01,808,201
59,429,656
62,469,079
83,796,332

41,791,251
41,542,149
40,474,701
51,001,909
54,271,094
62,104,916
64,416.412
59,114,002
55,009,547
57,027,817
79,327,117

Increase ( + )
or
Decrease (— ).
S

%

— 895,540 2.14
+ 5,478,044 2.29
+ 3,155,611 6.78
+ 3,895,904 7.54
+ 5.335,337 9.83
+ 2,818,037 4.53
+ 6,352,057 9.85
+ 2,754,259 4.66
+ 4,300,109 7.91
+ 5,441,832 9.54
+ 4,469,215 5.64

N ote.— Neither the earnings o f the Mexican roads nor the mining operations
o f the anthracite coal roads are included in this table.

Perhaps in view of the conditions prevailing the
improvement shown for 1906 is as large as could have
been expected. For, aside from the dislocation of
traffic occasioned by the fuel scarcity already referred
to, many roads in the West and other parts of the
country had to contend with a diminished grain
movement. In part, the shrinkage in the grain traffic
followed from the derangement of freight schedules
occasioned by this very coal scarcity. The trouble
was not that there was no grain to move, but that the
roads involved in the coal disturbance were not in
position to take and t aiisport it, or at least not so
much of it. It is a fact, however, that the grain
movement fell off even where the fuel scarcity did not
come in as an unsettling element. Taking the grain
receipts for the four weeks ending December 29 at
the Western primary markets, it is found that there
was a falling off as compared with the corresponding
period last year in the case of corn, of oats and of
wheat, and that these losses were offset only to a
small extent by increased receipts of barley and rye.
In other words, combining the five cereals the re­
ceipts for the four weeks of 1906 aggregated 58,444,-

THE CHRONICLE

J a n . li) 1907.]

133

To complete our analysis, we add the following six310 bushels, as against 67,127,732 bushels in 1905.
The details of the grain movement in our usual form year comparisons of the earnings of leading roads,
arranged in groups.
are set out in the following.
W E S T E R N F L O U R AN D G R A IN R E C E IP T S .
Four W eeks
Ending
D ec. 29.
Chicago—
1906____
1905____
Milwaukee—
1906____
1905____
S t. Louis—
1906____
1905____
Toledo—
1906-----1905-----Detroit—
1906____
1905____
Cleveland—
1906____
1905____
Peoria—
1906____
1905____
Duluth—
1906____
1905-----M inneapolis—
1906-----1905-----K ansas City—
1906-----1905------

E A R N IN G S O F M ID D L E A N D M ID D L E W E S T E R N G R O U P .

Flour.
(bbls.)

Wheat.
(bush.)

C om .
(.bush.)

Oats.
(bush.)

B arley.
(bush.)

R ye.
(bush.)

798,545
611,941

1,975,233
956,225

7,813,602
10.075,502

5,801,950
7.665,478

2,518,539
2,439,099

374,382
206,000

226,425
101,970

986,000
610,440

433,000
398,050

846,200
916,400

2,204,400
1,781,500

203,400
126,400

233,710
189.960

855,472
1,408,343

2,683,600
2,001,550

1,299,200
1,582,600

453,700
562,521

86,000
68,000

______

215,000
253,200

801,000
865,000

212,300
244,900

12,100
32,000

267,612
262.541

429,400
1,064,966

246,816
347,231

5,046
4,888

57,714
51,628

1,110,930
1,261,100

600,335
337,726

25,921
10,060

76.750
89,900

47,100
42,400

1,995,300
1,301,200

668.500
1,028,200

443,000
287,500

32,900
12,800

192,750
145,000

3,984,377
3,276,177

1,358

214,466
903,181

785,267
925,093

40,014
71,462

9,723,260
12,322.730

550,770
615,472

1,706,790
2,563,240

1,163,160
1,582,430

283,500
286,470

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

2,764,000
2,485,000

1,250,000
3,345,700

282,000
572,400

Total of A ll—
1906____ 1,545,326
1905------ 1,175,659

20,875,768
21,668,643

17,067,602
20,929,898

11,878,557
16,161.356

__

8,400
8,500

__

__

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

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

7,593,987 1,028,390
779,032
7,588,203

R E C E IPTS O F CO TTON A T SO U T H E R N PO R T S IN D ECE M B E R F O R S I X
Y E A R S . 1901 TO 1906, IN C LU SIV E .
December.
1906.

1905,

1904.

1903.

1902.

1901.

534,046
47,200
458,111
53,076
31,468
251,890
22,160
22.45S
272
30.428
104.142
4,608

327,323
46.191
244,445
32,177
20,577
109,431
48,781
16,773
150
32,959
9S.315
3,743

339.367
47,754
446,467
52,718
50,861
225,953
48,564
25.632
222
29,733
89,416
1.3S8

454,106
17,674
428,S27
36,068
44,108
221,148
22,781
19,801
166
55,23.3
95,476
2.717

262,803
20,481
400,432
41,997
43.15S
215,150
25,512
38,393
206
51.725
102,424
2.269

384,479
22,996
386,100
29,911
45,349
202,911
.24,438
G o,115
635
44,523
79,818
3,076

T otal_______________ 1,566,258 1,040,S65jl .358,075 1,398,105 l,204,550j 1,289,651

In view of the increased cotton traffic, it is not sur­
prising to find that Southern and Southwestern roads
are unusually prominent among those reporting en­
larged earnings. The Missouri Kansas & Texas, for
example, has $443,329 gain, the Louisville & Nashville
$374,558 gain, the Texas & Pacific $327,884, &c., &c.
Losses of large amount come mainly from roads like
the Great Northern, the Minneapolis St Paul & Sault
Ste. Marie. &c., though the Buffalo Rochester &
Pittsburgh has also again fallen behind. In the fol­
lowing we show all changes for the separate roads for
amounts in excess of $30,000, whether increases or
decreases.
P R I N C I P A L C H A N G E S IN G R O SS E A R N I N G S IN D E C E M B E R .
In crea ses. I
I n c r ea se s .
$492,13.1 A la N O i T e x P a c (3 rds)
584 ,8 5 2
4 4 3 ,3 2 9 , W a b a s h ____________________
7 6 ,7 9 8
3 7 4 ,5 5 8 |C en tral o f G e o r g ia ________
7 0 ,0 6 3
3 6 3 .0 0 0 Y a z o o & Miss V a lle y _____
4 7 ,2 7 4
3 27 ,884 W h e e lin g & L a k e E r ie ___
39,085
2-310,000, D u lu th S o Sh & A t l a n t i c .
.17,728
289.89!) A la G rea t S o _____________
35,650
2 83 .2 3 8 W e s te rn M a r y la n d ________
33 GOO
2 09 .4 8 0 ;
------------------269.481
T o t a l (33 r o a d s ) ............... $ 5 ,0 6 3 ,6 8 8
205 .000
100.300
D ecrea ses.
151,17 1 Gt N o rth e rn S y st (2 r d s ) . $ 4 0 2,98 6
127.800 L a k e S h ore & M ich S o . .
* 8 0 ,0 0 0
69.658
125 ,477 M inn St P & S S M _______
1 25 .0 0 0 N Y C h ic & S t L _________
48,404
113,419 B u ll R o c h e s te r & P i t t s b . .
3 0 ,1 5 5
9 8 ,4 0 0 ;
1 9 7 ,0 0 0
T o t a l (6 r o a d s ) _________
$ 6 9 7,26 3

N o rth e r n P a c i f i c ............—
M issouri K a n sas «Sc T e x a s .
L o u is v ille & N aslivllle —
C a n a d ia n P a c i f i c --------------T e x a s & P a c i f i c ___________
N V C en tral & I lu d R i v . .
G ra n d T r u n k (4 roads) —
Illin ois C e n tr a l____________
S o u th e rn R a ilw a y ________
B a lt & O h i o . _____ ________
M o P a cific S y st (2 r o a d s ) .
D e n v e r & R io G ra n d e ____
S t L ou is S o u th w e s te r n ___
C lev C in C h ic & St L ____
C o lo r a d o <5e S o u th e r n ____
ln t e r n a t 'l & G t N o rth e r n .
M ob ile & O h io ____________
C a n ad ian N o r t h e r n _______
M ichigan C e n tr a l_________

x Based1 on a p p r o x im a t e results o n ly .




1906.

1905.

1904.

S
637,050
453,788

S
673,205
461,821

$
645,446
445,209

3,401,472

3,053,246

4,654,564
7,746,083
116.946
315,417
2,061,849
459,000

4,493,103
6,893,934
127,509
346,211
2,032,400
356.543

Bu£C.Roch.& P.
Chic. Ind.&Lou.
Gr. T r. of Can!
Gr. Tr. W e s t. }■ 63,691,371
D et.G .H .& M.J
Illinois Central 4,937,802
N.Y.C.& H .R .0 *8,062,111
Tol. Peo. & W .
108,436
T ol. St. L . &W
327,347
W abash ______ 2,138,647
Wheel. & L . E.
498,085

1903.

1902.

1901.

3
511,818
405.913
12,479,638
\ 388,755
J 110,388
3,806.150
6,443,525
105.636
258,615
1,881,094
348,880

S
528,975
393,954
2,326,080
441,109
89.909
3,787,102
6,202,785
114,682
294,268
1,694,345
330,350

3
475,041
354,496
1,924,702
383,494
113,287
3,413,125
5,690,120
94,898
219,920
1,592,342
253,580

20,854,637 19,890.357 18,393,601 10,740,412 16,203,559 14,515,005

On the other hand, Southern roads and Southwestern
roads were favored bjr an exceptional^ heavy cotton
movement— this being in addition to the activity and
prosperity of general trade, which inured to the benefit
of the roads everywhere throughout the country.
The shipments overland aggregated 347,523 bales in
December 1906 against only 237,951 bales in December
1905. The receipts at the Southern outports were no
less than 1,566,258 bales, as compared with 1,040,865
bales in the month in 1905—from which it can be
seen what an advantage to Southern roads the larger
cotton movement must have been.

G alveston ......... bales.
P ort Arthur, & c_____
New O rle a n s .............
M obile ...........................
Pensacola, & c..............
Savannah ....................
Brunswick----------------Charleston........... ........
G eorgetow n....... ...........
W ilm ington__________
N o r fo lk _______ ____
Newport News, & c__

December.

x Based on approxim ate results on ly . 6 Includes In 1900, 1905 and 1904, b u t
not in earlier years, earnings of Canada & A tlantic, g The Fall Brook System ,
the Beech Creek R R . and the W allkill Valley R R . and B oston & A lban y in ­
cluded for all the years.
E A R N IN G S O F SO U T H E R N G R O U P .
1906.

1905.

1904.

1903.

1902.

1901.

S
355,191

S
319.541

S
311,613

S
272,557

S
216,203

S
213,879

300,327
153,848
153,740
1,098,307
699,981
3,967,880
8S9.729
4,872,081
977,790

257.184
137,900
127.913
1,028,244
076,190
3,593.322
770,310
4,602,595
930,522

216,081
145,375
152,998
996,523
603,509
3,438,863
715,674
4,239,515
1,029,178

214,673
131,812
139,992
926,891
529,597
3,186,465
665,495
3,916,072
846,215

191,747
114,681
116,700
816,381
462,106
3,005,904
620,583
3,531,963
759,952

170.096
102.097
112,109
750,992
429,393
2,495,009
553,102
3,165,321
665.083

T o t a l ............ 13,468,880 12,449,787 11,849,329 10,829,769

9,836,220

8.657.141

December.
Ala. Gt. South.
A l. N .O .& T .P .
N. O. & N . E
Ala. & Vicks.
Vick.Shr.&P.
Central of G a ..
C. N .O . & T .P .
Louis. & Nashd
Mobile & O hio.
Southern _____
Y azoo & M. V.

d Includes earnings of Atlanta K noxville & N orthern In 1904, 1905 and 1906. _
EA R N IN G S O F S O U T H W E ST E R N G R O U P .
December.

1906.

Col. & Sou th .a
Den. & R io Gr.
Int. & Gt. Nor.
M o.K an.& Tex.
M o.Pac.& C.Br.
S t. L. S. W . . .
Texas & Pacific

S
1,176,054
1,743,900
792,000
2,319,014
4,059,000
979,856
1,824,401

1904.

1905.

1901.

1902.

1903.

3
800,321
1,447,717
605,271
1,652,922
3,752,161
874,577
1,556,905

§
685.050
1,237,888
597,658
1,546,911
3,692,352
708,787
1,410,722

$
733,522
1,446,503
544,349
1,374,148
3,390 050
669,190
1,269,090

3
646,619
1,447,159
527,327
1,383,993
3,013,735
658,007
1,349,023

T o t a l............ 12,894,225 11,350,061 10,689,874

9.945,368

9,426,852

9,025,863

S
1,050,577
1,577,600
667,000
1,875,685
3,854,000
828,6S2
1,496,517

a For 1905 and 1906 includes Colorado & Southern, F ort W orth <fe D enver City
and all affiliated lines except the T rin ity & Brazos Valley; for previous years we
have com bined Colorado & Southern and F ort W orth & D enver C ity.
E A R N IN G S O F N O R T H W E S T E R N A N D N O R T H P A C IFIC G R O U P .

.

December.

1906.

1905.

1904.

1903.

1902.

1901.

Canadian P a c.
Chic.G t.W est.o
Dili. So. S.& A.
Gt. N or. S y s t.
Iow a C en tral..
Minn. & St. L .
M.St.P.&S.S.M.
Northern P a c.

S
5.931,000
758,381
251,276
3,894,856
265,582
304,092
862,090
5,768,287

3
5,568,000
742,202
213,548
4,357,842
273,009
307,274
931,748
5,276.154

S
4,562,142
062,186
207.113
3,710,297
220,528
232,443
735,761
4,351,763

$
4,264,815
685,208
190,925
3,270,563
191,113
257,141
531,982
3,799,122

S
3,959,146
047,323
202,265
3,396,388
198,592
265,627
513,454
3,759,165

3
3,497,733
628,582
203,800
3,232,273
212,424
285,532
510,402
3,410,527

T o t a l ______ 18,035,564 17.669.777 14,682,233 13,190,869 12,941,960 11.987,273
a Results are based on 111 miles less road after 1903.
G R O SS E A R N IN G S A N D M IL E A G E IN D E C E M B E R .
G ross E a rn in g s.

M ile a g e .

N a m e o f R oad.
IIn c . ( + ) or
1906.
j D e c . (— ) .

1905.

1906.

190 5.

$
355,191

$
319,541

$
+ 35,650

309

309

2 57 ,184
137,906
127,913
6 ,4 5 0 ,5 2 0
5,0 8 6
6 73 ,205
119,241
4,17,800
5 ,5 6 8 ,0 0 0
1 ,0 2 8 ,2 4 4
10,330
7 4 2 ,2 0 2
461,821
140,372
676,190
2 ,0 4 1 ,5 7 9

+ 4 3 ,143
+ 15,882
+ 25,827
+ 269,481
+ 111
— 36,155
+ 9,622
+ 9 8 ,400
+ 3 03 ,000
+ 70,003
+ 1,783
+ 10,179
— 8,033
— 0,582
+ 23,791
+ 127,766

196
143
189
4,0 2 7
27
568
205
2,4 3 0
9,055
1,890
105
818
591
102
338
1,983

196
143
189
4 ,0 2 7
27
568
205
1,876
8,5 6 8
1,878
105
818
591
102
3,18
1 ,940

1 ,0 5 0 ,5 7 7
1 ,5 7 7 ,6 0 0
94,7 1 8

+ 125 ,477
+ 1 00 ,300
+ 0,802

1,663
2,532
333

1,646
2,4 7 0
332

399 ,3 4 6
213 ,5 4 8
168 ,452

— 13,030
+ 3 7 ,728
+ 12,892

684
592
395

684
592
395

3 ,4 0 1 ,4 7 2

+ 289 ,899

4,5 2 8

4 ,5 5 4

4 ,1 0 1 ,0 1 9
250 ,8 2 3
178,201
4 ,6 5 4 ,5 6 4
6 67 ,000
2 73 ,009
455 ,244
3 ,5 4 9 ,0 7 3
3 ,5 9 3 .3 2 2

— 441,841
— 21,145
+ 22,814
+ 283 ,2 3 8
+ 125 ,000
— 7,4 2 7
— 7 ,8 0 0
— 8 0 .1 7 0
+ 3 7 4 ,5 5 8

6 ,0 3 9
250
307
4,371
1,159
558
886
1,520
4,2 9 8

5,9 7 4
250
280
4,3 7 4
1,159
558
886
1,520
4 ,1 1 7

A la b a m a G reat S o u th e r n .
A la N ew O rl & T e x P a c —
N e w O rl & N o r E a s t___
300 ,327
A la & V ic k s b u r g _______
153,848
V ic k s S h re v & P a c lfic .
153 ,740
B a ltlm o re & O h io . . . . 6,720,001
5,197
B e lle fo n te C e n tra l________
6 37 ,0 5 0
B u lla lo R o c h e s te r & P itts
128,863
C a lifo rn ia N o rth w e s te r n .
536 ,200
C a n ad ian N o r t h e r n . _ ._
5 ,9 3 1 ,0 0 0
C a n a d ia n P a c ific _________
C en tral o f G e o r g ia _______ 1 ,0 9 8 ,3 0 7
12,11.1
C h a tta n o o g a S o u th e r n ___
758,381
C h ic a g o G rea t W e s t e r n . .
4 5 3 ,7 8 8
C h ic Iu d la n a p & L o u ls v .
139 ,790
C h ic T e rm in a l T r a n s f e r ..
699,981
C ine N O & T e x P a c ific . .
C le v C in e C h ic & St L ou is 2,1 6 9 ,3 4 5
C o lo r a d o & S o u th e rn (Incl
F t W o r t h & D e n C ity ) . 1 ,1 7 6 ,0 5 4
1 ,7 4 3 ,9 0 0
D e n v e r & R io G ra n d e —
101 ,520
D e tr o it & M a c k in a c --------D et T o l & I r o n to n , A n n
38 6 ,3 1 0
A r b o r s y s t e m ___________
251 ,270
D u lu th S o Sh & A t la n t ic .
181,344
G e o rg ia S ou th ern & F l a . .
G ra n d T r u n k o f C a n a d a .]
G ra n d T r u n k W e s te rn f 3,0 9 1 ,3 7 1
D e t G r H a v & M l l w .. 1
C a n a d a A t la n t ic --------- J
G t N o rth e rn S t P M & M ,
in cl E a st o f M in n ______ 3 ,6 5 9 ,1 7 8
235 ,078
M on ta n a C e n tra l_______
201 ,015
G u lf & S h ip I s la n d .............
Illin ois C e n tr a l___________ 4 ,9 3 7 ,8 0 2
7 9 2 ,0 0 0
I n te rn a t & G t N o r t h e r n ..
265 ,582
Io w a C e n tr a l. ___________
14 4 7 ,4 4 4
L a k e E rie & W e s t e r n ____
L a k e S h o re & M ich S o ___ * 3 ,4 6 8 .8 9 7
L o u is v ille <fc N a s h v ille ___ 3 ,9 0 7 .8 8 0

134

THE CHRONICLE.
'G ross E a rn in g s.

M ilea g e.

N a m e o f R oad.
1906.

S

M a c o n & B ir m in g h a m ___
15,319
M a n is tiq u e . . ___________
4,448
M ich ig a n C entral ________ * 2 ,1 2 2 ,8 7 7
M in eral R a n g e . ____ __ .
04,907
M in n eap & St L o u i s ____
304,092
M in n St P & S S M ._ . . .
802,090
M o K an sas & T e x a s ____
2 ,3 1 9 ,0 1 4
M o P a c & Ir o n M t ___ _____ 3 ,9 2 7 ,0 0 0
C en tral B r a n ch ________
132,000
M o b ile & O h io .
889 ,729
N e v Cal & O re g o n ______
17,005
N Y C en t & H u d R iv
z S ,062.111
N Y C h ica go & St L o u i s . .
930,741
N orth ern P a cific .
5 ,7 0 8 ,2 8 7
R io G ra n d e S o u th e r n ____
54,435
S t L ou is S o u th w e ste r n .
979 ,8 5 6
35,529
S ierra R a ilw a y _ ________
S ou th ern I n d ia n a ___ _____
135,619
S o u th e rn R a ilw a y ________
4 ,8 7 2 ,0 8 1
T e x a s C e n tra l___
____
123,741
T e x a s & P a c ific ___________ 1,824,401
T o le d o P eoria & W e s te rn .
108,436
T o le d o S t L ou is & W e s t .
3 27 ,347
T o r o n t o H a m & B u ffa lo .
66,272
V ir g in ia S o u th w e s te r n .
76,944
W abash . . . . .
2,1 3 8 ,6 4 7
W e s te rn M a r y la n d _______
3 90 ,490
W h e e lin g & L a k e E r ie ___
4 98 ,085
Y a z o o & M iss V a lle y ____
9 77 ,790

I n c . ( + ) or
D e c . (— ) .
1906.

1905.
s
13,625
5,067
2 ,0 2 6 ,1 2 2
59,104
307 ,2 7 4
931,748
1 ,875,685
3 ,7 1 3 ,0 0 0
141,000
776 ,3 1 0
14,150
7 ,7 4 0 ,0 8 4
979 ,2 0 5
5,2 7 6 ,1 5 4
53,291
828 ,682
28,412
119,372
4 ,6 0 2 ,5 9 5
105,047
1 ,4 9 6 ,5 1 7
110,940
315 ,4 1 7
08,450
70,485
2 ,0 0 1 ,8 4 9
302 ,830
459 ,0 0 0
930 ,522

$
+ 1,094
— 619
+ 96,7 5 5
+ 5,863
— 3,182
— 69,058
+ 443 ,329
+ 214 ,000
— 9,000
+ 113,419
+ 3,449
+ 316 ,027
— 48,464
+ 492 ,133
+ 1,144
+ 151,174
+ 7,1 1 7
+ 10,247
+ 269 ,486
+ 18,694
+ 3 27 ,884
— 8,510
+ 11,930
— 2,184
+ 459
+ 76,798
+ 33,600
+ 39,085
+ 47,274

105
78
1,745
140
799
2,152
3,072
5,949
388
926
144
3,774
523
5,781
180
1,451
70
197
7,551
277
1,826
248
451
88
134
2,517
536
498
1,239

1905.
105
78
1,745
140
799
1,842
3,043
5,849
388
926
144
3,774
523
5,706
180
1,441
76
197
7,2 0 0
277
1 ,826
248
451
88
134
2,517
477
498
1,210

T o ta l (05 r o a d s ) ___ __ 8 3 ,7 9 0 .3 3 2 7 9 ,3 2 7 ,1 1 7 + 4 ,4 0 9 ,2 1 5 95,9 3 6 93,553
N et in crea se ( 5 . 6 4 % ) ____
a
M e x ica n R o a d s (n o t inclu d e d in to t als.
0 13 ,039
540,141
I n te r o ce a n ic o f M e x ic o ___
021 ,827
M ex ica n In te r n a tio n a l___
0 42 ,562
M e x ica n R a ilw a y .
____
502 ,400
007 ,000
M e x ica n S ou th ern _______
104,941
97,388
N a tio n a l R R o f M e x i c o . . 1 ,3 0 2 ,4 0 0 1,2 9 0 ,9 9 8

+ 73,4 9 8
+ 20,735
+ 44,0 0 0
+ 7,553
+ 5,4 6 8

7361
736
911
884
321
321
263
263
1,730 1,730

x T h e se figures are an a p p r o x im a t io n o n ly .

ITEMS ABOUT BANKS, BANKERS AND TRUST CO’S.
— The public sales of bank stocks this week aggregate 25
shares, of which 15 shares were sold at the Stock Exchange
and 10 shares at auction. The transactions in trust com­
pany stocks reach a total of 92 shares. A lot of 30 shares
of United States Mortgage & Trust Co. stock was sold at
475— an advance of 25 points over the price paid at the last
previous public sale in June 1906.
S h ares. B A N K S — N ew Y o r k .
L ow . H ig h .
£15 C o m m e r c e , N a t. B a n k o f ___ 183
184
10 S ta te B a n k ___________________ 325
325
T R U S T C O M P A N I E S — N ew Y o rk .
12 L a w y e r s ’ T it le In s . & T r . C o. 275
275
50 L in c o ln T ru s t C o ____________ 395 M 395 K
30 U . S . M o rtg a g e & T ru st C o . . 475
475

C lose.
L a st previou s sale.
184
Ja n .
1907— 183
325
Ja n .
1898— 115
275
395 K
475

D e c.
Jan .
Jun e

1900— 280
1907— 395
1900— 450

x S old a t th e S to c k E x ch a n g e .

— A New York Stock Exchange membership was reported
transferred this week for $83,000.
— At the annual meeting of the Philadelphia ClearingHouse Association last week, it was decided to have but one
clearance a day instead of two, this to be at 10 a. m. The
new plan will be adopted February 1. On the same date
the plan of permitting trust companies to clear through
members of the Association will also go into effect, the clear­
ing house having decided to accord the institutions that
privilege under the provisions mentioned in our issue of
November 24. Francis B. Reeves, President of the Girard
National Bank, has been elected President of the Association,
to succeed the late John H . Michener. John C. Boyd has
been re-elected Secretary of the Association.
— The Minneapolis Clearing House Association has fol­
lowed the course taken some months ago b y ' the Chicago
Clearing House and appointed a special Bank Examiner,
whose duty it will be not only to examine the members of
the Clearing House but also institutions enjoying its privi­
lege. The Minneapolis association has chosen for the office
P .M . Kerst, who will resign as State Public^Bank^Examiner
on February 1 to take up his new work. -Minneapolis, in
point of volume of business through its-" Clearing House,
ranks twelfth in the United States. ItsTbanks, in point of
stability, conservatism of methods, ifcc., stand in the front
rank, and the present action of the Clearing-House, with its
attendant results, should tend further to’^increase the pres­
tige of the institutions. Mr. Kerst is particularly adapted
for the post to which he has been chosen. He has served
for the past two years as public examiner, and previously
was deputy under Examiner S. T. Johnson. •Prior to enter­
ing the Examiner’s office he was with the National GermanAmerican Bank of St. Paul.
— The appointment by Gov. Hughes ’of Charles Hallam
Keep as New York State Superintendent of Banks was con­
firmed by the Senate on Thursday.




[V o l.

l x x x iv

.

— The net earnings of the New York Trust Company, Otto
T. Bannard, President, for 1906 were, according to a state­
ment just published, $1,520,602, being over 50% on the
company’s capital stock of $3,000,000; $690,000 in dividends
has been actually paid to the stockholders. The quarterly
dividend was increased by the trustees from 5 % to 8 % in
December, a 32% yearly basis. On Dec. 31 the institution
reported surplus and undivided profits account at $10,941,994 52, deposits at $40,427,993 02 and aggregate resources
of $54,400,540 24. Joseph J. Slocum was this week elected
a trustee.
— A. D. Bennett, formerly President of the Commercial
National Bank of Port Huron, Mich., was recently chosen to
head the pioneer Night & Day Bank of this city. The new
executive of this unique institution is well known to outof-town bankers, having taken an active interest in Michigan
banking affairs. His selection for the new post is consid­
ered a good one. The Night & Day, which inuagurated the
twenty-four-hour banking plan, was opened last May and
has $2,500,000 deposits, divided among 2,100 personal de­
positors. Mr. Bennett, Carleton Bruce and John C. Tom­
linson Jr. were elected directors.
— At the stockholders’ meeting held this week of the Em­
pire Trust Company of New York, Arthur P. Heinze and
Charles M. Schwab were elected directors.
— Oscar L. Gubelman, Vice-President of the Guaranty
Trust Company of New York, resigned this week to become
a partner in the firm of Knauth, Nachod & Kuhne. George
G. Henry, associated with the firm of Potter, Choate & Pren­
tice, bankers of this city, has been elected as his successor.
— The Lincoln Safe Deposit Company, affiliated with the
Lincoln National Bank, 32-42 East 42d Street, has acquired
by purchase the entire business and plant of the American
Safe Deposit Co., corner of Fifth Avenue and 42nd Street.
— Following the plan announced in this column last week
for consolidating the Colonial Trust Co. with the Trust Com­
pany of America, the stockholders of the latter last Wednes­
day elected as board members: John E. Borne, Anson R.
Flower, Stephen Peabody, Seth W . Milliken, Richard Delafield, Cord Meyer, Lowell M. Palmer and James W . Tappin,
all directors of the Colonial Trust. William F. Sheehan,
Morgan J. O’Brien, Randal Morgan and A. D. Bennett
were also elected directors of the Trust Company of America.
At the organization meeting of the board, Mr. Borne waschosen chairman of the Executive committee; Frank L. Hil­
ton, Secretary, succeeding Raymond J. Chatry, resigned,
and Carlton Bunce, First Assistant Secretary. Mr. Hilton
has been associated with the present company and its prede­
cessors for ten years. Oakleigh Thorne, President of the
Trust Company of America, with William F. Sheehan and
W . H. Chesebrough, were added to the directorate of the
Colonial Trust Co. at the stockholders’ meeting this week.
John E. Borne, Perry Belmont, George Edward Ide and
Henry N. Whitney, whose terms expired this year, were re­
elected directors.
— John H. Scheidt has been elected Vice-President of the
Williamsburg Trust Company of Brooklyn Borough to re­
place John W . Weber.
— Although Henry Dimse was recently elected Chairman
of the executive committee of the Riverside Bank, 57th
Street and Eighth Avenue, he continues as President of the
Northern National Bank of this city. Interests identified
with the Bank of Discount and those of the Northern Na­
tional Bank acquired control of the Riverside Bank last week.
— At the annual meeting, the stockholders of the Com­
mercial Trust Company, corner Broadway and 37th Street,
added Edward A . Kerbs of the New York tobacco house of
Kerbs, Wertheim & Shiffer, to the board of directors. On
Jan. 1 the company reported $2,829,875 deposits, the re­
sults of the two months’ business since November 8, when it
was organized by R. R. Moore, President, and his associates.
— The stockholders of the Lincoln National Bank of this
city, at their annual meeting on the 8th inst., ratified a
proposition to increase the capital from $300,000 to $500,000.
The 2,000 additional shares are offered ratably, at par, to
the shareholders. For the purpose of enabling the share­
holders to meet their subscriptions on the new stock, a divi­
dend of 66 2-3 % will be declared on the S300>000 capital,
out of the surplus ^
rofits, which amount^t iabout 1

Jan. 19 1907.]

THE CHRONICLE.

070,000, suoli dividend to be applied as payment for the new
•stock.
— The directors of the Union Exchange Bank of this city
have elected William Ballin a Vice-President and director,
to fill the vacancy due to the death of the late David Wile.
In order to devote his attention entirely to the affairs of the
Union Exchange, Mr. Ballin has resigned from the boards
of several banks of which he was a member.
— Jacob Langeloth, President of the American Metal Com­
pany, was elected a dii'ector of the Corn Exchange Bank of
this city on the 15th inst., the board thus being increased
from seventeen to eighteen members.
— At the annual meeting of the stockholders of the Title
Guarantee & Trust Companj'- of this city, held on Tuesday
last, Henry Roth of Brooklyn and James H. Manning of
Albany, N. Y ., were elected to the board. Mr. Roth is
prominent in real estate circles while Mr. Manning is Presi­
dent of the National Savings Bank of Albany. In view of
the fact that savings banks throughout the State are large
purchasers of title guarantee policies, it was thought that
the banks generally would welcome one of their men on the
board. No change in the official staff occurred.

1 35

— John H. Emanuel Jr. has been elected a member of the
board of trustees of the Long Island Loan & Trust Company
of Brooklyn Borough.
— The Home Trust Company of New York (Brooklyn
Borough) has added five new members to its board of di­
rectors. They are: Oswald G. Villard, Carl L. Schurz, A . E.
Johnson, A . R. Pardington and Benjamin F. Knowles.
— William E. Harmon has been elected a director of the
People’s Trust Company of Brooklyn Borough to succeed the
late Isidore M. Bon.
— Douglas Alexander, President of the Singer Manufac­
turing Company, has been elected a director of the Commer­
cial Trust Company of New Jersey, at Jersey City.
— At a meeting of the directors of the Marine National
Bank of Buffalo, N. Y ., on the 12th inst., J. H . Lascelles,
formerly Cashier, was elected a Vice-President, and Clifford
Hubbell, formerly Assistant Cashier, was elected Cashier.
The other officers continue as heretofore— Stephen M. Clem­
ent, President; J. J. Albright, Vice-President, and H . J.
Auer, Assistant Cashier.

— The directors of the First National Bank of Utica, N. Y .,
at their annual meeting on the 9th inst., elected Henry R.
— On January 1, the Coal & Iron National Bank of the Williams and Frank A. Bosworth as Vice-Presidents. They
City of New York, at Liberty and West streets, paid its first were respectively Cashier and Assistant Cashier, and Mr.
quarterly dividend of 1J^%, being at the rate of 6 % per Williams for the present in addition to his new office will
year. This institution, which only began business in April continue to serve as Cashier. The office of Assistant Cash­
1904, has now over $5,000,000 in deposits, while its resources ier is abandoned.
are about $7,000,000. On its board of directors, which is
— Samuel P. Cook has been elected President of the Pro­
composed of thirty members, are representatives of some of ducers' National Bank of Woonsocket, R. I. Mr. Cook,
the largest railroad, banking and commercial interests in the previously Cashier of the institution, is Treasurer of the City
country. The officers are John T. Sproull, President; A. A. of Woonsocket. Horace A. Cook succeeds to the cashierLisman and David Taylor, Vice-Presidents, and Addison H. ship of the bank.
Day, Cashier.
— Galen L. Stone, of Hayden, Stone & Co., has been
— Charles A. Conant, who became Treasurer of the Morton
Trust Company of this city in February 1902 resigned the
post on the 1st inst. The office remains unfilled.
— Joseph J. Slocum, an executor of the Russell Sage estate,
was elected a director of the Metropolitan Trust Company of
this city on Wednesday to succeed Henry C. Perkins.
— The stockholders of the Fulton Trust Company of this
city have elected the following trustees for the term ending
1910: J. Roosevelt Roosevelt, Percy Chubb, Edwin A.
Cruikshank, Henry K . Pomroy, Harrison E. Gawtry,
Alfred E. Marling, Richard H. Williams and Archibald D.
Russell.
— John D. Barrett has been chosen to replace William H.
Moody on the directorate of the Columbia Trust Company
of this city. Mr. Moody has become a Justice of the United
States Supreme Court.
— John G. Hemerich, formerly Assistant Cashier of the
New Amsterdam National Bank of this city, was appointed
a Vice-Px-esident of the institution on the 12th inst.
— The Pacific Bank of this city has declared the regular
quarterly dividend of 2 % and an extra dividend of 2 % ,
both payable Februarj’- 1. The bank paid 8 % per annum
for many years.
— The directors of the Aetna National Bank of this city
at a meeting on Tuesday the 15th inst. decided to increase
the capital from $200,000 to $300,000. Their action is
subject to the approval of the stockholders, who will soon be
asked to ratify the proposition. The stock will be sold at
$220 per share, thereby increasing the surplus $120,000, or
to $280,000. The bank began business in October 1904.
In its last statement to the Comptroller of the Currency, it
had deposits of $2,056,224. The new directors elected last
week are Frank D. Huyler, William S. Pitcairn, Henry
Endemann and George Noakes.
— Frank H. Richardson, President of the Nassau Bank of
this city, died on Wednesday. He was sixty-three years of
age and had been President of the bank since 1898.
— At a meeting of the directors of the Manufacturers’ Na­
tional Bank of Brooklyn Borough, on the 15th inst., Alex­
ander D. Seymour, formerly Vice-President, was elected
President, and J. Henry Dick was elected a Vice-President.
A. D. Baird is also a Vice-President and J. C. Nightengale is
Cashier.




elected to the board of the City Trust Company of Boston,
to succeed T. Jefferson Coolidge Jr., resigned.
— The merger of the Freeman’s National Bank of Boston
with the National Bank of the Republic, referred to last week,
has already been accomplished. The quarters of the Free­
man’s Bank were vacated on the 12th inst., its business
having been transferred to the National Bank of the Repub­
lic. Edward P. Hatch, President of the absorbed institu­
tion, has become a Vice-President of the continuing bank.
The latter will increase its capital from $1,500,000 to $2,000,000 next month.
— The directors of the Merchants’ National Bank of Phila­
delphia have elected William A . Law Vice-President, suc­
ceeding Hartman Baker, who declined re-election. Thomas
W . Andrew has been chosen to fill the office of Cashier,
which Mr. Law vacates. F. W . Ayer continues as President
of the bank.
— The stockholders of the Frankford Real Estate, Trust
& Safe Deposit Company of Philadelphia at their annual
meeting on January 8 decided to make application to the
State authorities for permission to change the company’s
title to the Frankford Trust Company. The company re­
ports deposits on December 31 1906 of $1,831,714. It;has
a capital of $125,000, surplus and reserve fund of $125,000
and undivided profits of $11,825.
— At the recent meeting of the directors of the Pennsyl­
vania National Bank of Pittsburgh, Col. A . S. M. Morgan,
President of the institution since its organization'in 1890,
declined re-election. J. S. Seaman was elected‘-President.
R . M. Davis, formerly Cashier, was chosen Vice-President,
and S. M. Bauersmith was elected Cashier.
— F. E. Mulkie, formerly State Bank Examiner, has been
elected to succeed C. C. Davis, resigned, as Cashier of the
Traders’ & Mechanics’ Bank of Pittsburgh, Pa. Controlling
interest in the bank is held by President James E. Glass, of
the Treasury Trust Company of Pittsburgh.
— On the 2d inst. L. M. Plumer was elected Vice-President
of the Pittsburgh Bank for Savings at Pittsburgh, to suc­
ceed the late William Roseburg.
— At the annual meeting of the Maryland Trust Company
of Baltimore, held on January 15, a dividend of 6 % on the
preferred stock was declared for the year 1906. The follow­
ing directors were elected: Josiah L. Blackwell, G. Clymer
Brooke, H. Carroll Brown, John .W . Castles, Joseph R .

136

THE CHRONICLE.

Foard, B. Howell Griswold Jr., A. Barton Hepburn, Grier
Hersh, John T. Hill, Erne3t Hoen Jr., George C. Jenkins,
Joshua Levering, Oscar G. Murray, Henry F. Shoemaker,
James Speyer and Douglas M. Wylie.
— The directors of the’JMaryland National Bank of Balti­
more on Monday elected||Thornton Rollins as temporaiy
President, the office having been made vacant last month
through the death ofjEdward H. Thomson. Cashier James
G. Fenhagen was elected to succeed Mr. Thomson on the
board at the meeting on the 8th inst. Herman S. Platt has
been chosen acting JVice-President of the company.
— A spirited contest^for control of the Third National Bank
of Baltimore occuri’edjat the annual meeting of the directors
on the 8th inst. between President Robert M. Spedden and
Oashier John F. Sippel. President Spedden was the suc­
cessful contestant, andfon the following day he was re­
elected to the presidency. Robert H. Smith was at the
same time re-electedjVice-President, but no action was taken
by the directors in the matter of the cashiership. On the
11th inst. the resignation of Mr. Sippel was tendered, to take
effect on the 16th inst. A . B. Crouch, formerly Assistant
Cashier, was chosen this week as Mr. Sippel’s successor.

[Vol. lxxxiv.

— The State^Auditor of Illinois has issued a permit
to Norman W . Harris and his associates in the bank­
ing and bond house of N. W . Harris & Company
to organize
the
Harris
Trust
&
Savings
Bank.
The capital of the new institution will be $1,250,000
and its surplus $250,000. As a result of the incorporation,
the Chicago and Western business of the firm of N. W .
Harris & Company will be taken over and will constitute an
important feature of the new bank’s business activities.
N. W . Harris & Company will, however, continue their
business in New York and Boston as heretofore, the Harris
Trust & Savings Bank working in close relationship with
the firm. Norman W . Harris will be President of the new
corporation, and will have associated with him in its manage­
ment an able corps of assistants. The board of directors
has not yet been wholly decided upon, though it is said that
several prominent banking, railway and business men of
Chicago will|be chosen in this capacity.
— At the annual meeting of the Western Trust & Savings
Bank of Chicago, all the retiring directors were re-elected,
and no change^was made in the official roster. Fifty thou­
sand dollars was added to the surplus account, increasing
that item to $250,000. The remaining undivided profits
are, in round, numbers, $50,000. The new location of the
Western Trust & Savings, in the Rookery, is proving ad­
vantageous, especially in the savings department. The
bank is now fitting up handsomely the large corner offices
on the second floor just vacated by John C. King & Co.,
to add to its already spacious quarters.

— On the 10th inst.'ithe^directors of the Canton National
Bank of Baltimore, Md., re-elected H. J. McGrath President;
Gharles B. Kendig]was elected Vice-President and M. Roland
Bramble was chosenjCashier, the^last named succeeding John
W . H. Geiger, resigned. It is understood that the elections
of the President andjVice-President are only temporary, both
having accepted the^offices until suitable successors are se­
— At the annual meeting of the stockholders of the Hiber­
lected. William H .jW hite, Paying Teller in the institution,
was sentenced to fivejyears’ imprisonment on the 3d inst., nian Banking Association of Chicago, on the 14th inst., J.
having pleaded guilty ,r\it is said, to the charge of embezzling McKay, a member of the board during the bank’s existence,
since 1867, retired. He is succeeded by Julius Kessler.
$5,800 of the bank’s funds.
Other changes were the election as Assistant Cashiers of
— Rev. Isaac M. Motter was chosen to the presidency of
Jay A. Rigdon and John P. V. Murphy. The question of in­
the First National Bank of Frederick, Md., on the 8th inst,
creasing the capital of the institution from $1,000,000 to
the new official replacing ex-Senator Frank C. Norwood.
$1,500,000, which has been under advisement, has been re­
— The new People’s^State Bank of Detroit, Mich., repre­ ferred by the stockholders to the directors, who will deter­
senting a union of the State Savings and People’s Savings mine the date and other details^of the issuance of the new
banks, commenced|business on the 8th inst. The consoli­ capital.
dation was ratified last month by the stockholders of the
— The officers, so far as chosen to date, for the netf Na­
two institutions. Neither of the consolidating banks is
tional City Bank of Chicago are as follows: President, David
placed in liquidation. A charter for the new bank was
R. Forgan; Cashier, H. E. Otte; Assistant Cashiers, L. H.
taken out, and both institutions separately consolidated
Grimme and F. A . Crandall. Mr. Otte, the Cashier, is now
with it, their stockholers surrendering their holdings and
President of the Lake View Trust & Savings Bank of Chicago.
receiving in exchange a like amount of stock in the new insti­
For thirteen years he was connected with the Union National
tution. The new bank starts with a capital of $1,500,000,
Bank of Chicago, of which Mr. Forgan was President. As
surplus of $1,500,000 and total assets of $30,000,000. Its
an executive officer of the new bank he again becomes a close
list of officers wasjgiven in our issue of December 22. For
associate with Mr. Forgan. Mr. Grimme, one of the As­
the present, and until the State Bank Building can be re-'
sistant Cashiers, is at present with the First National Bank,
modeled to accommodate the business of the enlarged insti­
where he has been employed for nineteen years. Mr. Cran­
tution, the former main offices of the two old banks will
dall comes from the Merchants’ Loan & Trust Company.
be maintained.
The control of the bank will be placed with a board of di­
— It is considered likely that the well-known Chicago rectors composed, thusjfar, of the following: Alfred L. Baker,
brokerage and bond house of Granger Farwell & Co. will of Alfred L. Baker & Co.; Edward F. Carry, District Manager
soon organize a trust company to take over the bond, for the American Car & Foundry Company; Ambrose Cramer,
banking and general financing departments of the firm, but trustee of the estate of Henry J. Willing; A . B. Dick, Presi­
continuing the dealing in stocks under the present style and dent of the A. B. Dick Company; Stanley Field, Vice-Presi­
management. Mr. Farwell says he has for some time been dent of Marshall Field & Co.; F. F. Peabody of Cluett, Pea­
canvassing such a plan, and has submitted it to many of his body & Co.; Joseph Schaffner, of Hart, Schaffner <feMarx; John
friends and associated capitalists, with the reciprocal assur­ E. Wilder of Wilder & Co., and David R. Forgan. The
ance that they will gladly subscribe to as many shares of capital stock of the National City Bank is $1,500,000, be­
stock as may be allotted to them. There will hence be no sides a paid-in surplus of $300,000. Its doors willjbe thrown
difficulty in securing $500,000 or $1,000,000 capital, as may open for business the first week in February.
be desired. While the organization of this new financial
— At the annual meeting, Jan. 8, of the Wisconsin Trust
institution in Chicago is not a certainty, yet there seems a
Company of Milwaukee, Grant P. Stickney was made Treas­
strong probability it will take concrete form before the 1st
urer of the company instead of Secretary, as formerly, Fred
of March. The name chosen will probably be the Farwell
C. Best succeedingjto the secretaryship, and R. L. Smith be­
Trust Company, as Mr. Farwell will own the controlling in­
coming Assistant Secretary. Oliver C. Fuller was-re-elected
terest. Mr. Farwell has been prominent in Chicago financial
President and Frederick Kasten was re-elected Vice-Presi­
circles for many years. He served two terms as President
dent.
of the Stock Exchange. He is now a director of that in­
— The stockholders of the Fidelity Trust Company of
stitution, as well as of the Diamond Match Company, the
Pearson Lumber Company, the Pyle-National Headlight Milwaukee, W is., ratified a proposition on the 8th inst. to
Company, the Utah Gas & Coke Company, University Club increase the capital from $125,000 to $250,000. It was also
decided to increase the board from seven to ten members.
and the Western Trust & Savings Bank. £
These will probably be elected next month.
— Bert McBride, formerly Secretary of the Security
— At the election of officers of the National Bank oi Com­
Trust Company of Indianapolis, succeeded on the 1st inst.
merce of Minneapolis on the 8th inst.JA.’ A. rane was pro­
Gavin Payne, retired, as President .of 4the’company.3




J a n . 11) 1907.J

THE CHRONICLE.

137

moted from the cashiership to the office of Second Vice-Presi­
dent. W . S. Harris was in turn elected Cashier, and W . F.
McLane and S. S. Cook chosen Assistant Cashiers. S. A.
Harris is President and F. E. Kenaston First Vice-President.

President of the National Bank of W .V a ., will be President of
the consolidated institution, and A. J. Clarke, President of
the Bank of Wheeling, will be Chairman of the board of
directors.

— H. A. Willoughby has been added to the list of officers
of the First National Bank of Minneapolis, having been
chosen as an Assistant Cashier at the recent annual meet­
ing. The institution is shortly to take possession of its new
home, which will prove an addition to the fine banking build­
ings lately constructed in that prosperous banking centre.
The building will be occupied exclusively by the bank. It
is of Corinthian type of architecture, built of grey Bedford
stone. The interior of the large banking room proper,
which is 100 by 150 feet, will be finished in Italian white
marble and mahogany, with solid bronze counter rails and
trimmings. The basement will contain lunch and reading
rooms for the staff, &c. Massive new vaults of the latest
model will also be added. The First National has a capital
of $2,000,000, surplus of $1,750,000 and deposits of nearly
fifteen millions. The re-elected officers are: F. M. Prince,
President; C. T. Jaffray, Vice-President; George F. Orde,
Cashier, and Ernest C. Brown and D. Mackerchar, Assistant
Cashiers.

— At the annual stockholders’ meeting on the 8th inst.
two new directors were elected to the board of the Third
National Bank of Louisville, K y ., namely W . N. Cox,
President of the Louisville Warehouse Company and Joshua
D. Powers. The new members succeed J. W . Gaulbert and
Percival Moore. John J. McHenry has been elected VicePresident of the institution to fill a vacancy.

— The Swedish-American National Bank of Minneapolis
recently increased its surplus account to $300,000 through
the transfer to it of $50,000 from undivided profits. The
bank has also raised its dividend rate from 6 to 8 % yearly,
having declared a semi-annual dividend of 4 % on Dec. 28,
against 3 % previously paid. The bank has increased its
rate of interest on deposits from 3 % to 3J^% . The institu­
tion has a capital of $500,000 and undivided profits of close
to $50,000. Its officers are: N. O. Werner, President; C. S.
Hulbert and J. A. Latta, Vice-Presidents; E. L. Mattson,
Cashier, and.A. V. Ostrom, Assistant Cashier.
— E. H. Bailey was elected President of the First National
Bank of St. Paul, Minn., on the 8th inst., succeeding H . P.
Upham, retired. The latter, who had held the presidency
for twenty-seven years, has been elected Chairman of the
board of directors. E. N. Saunders has been chosen to suc­
ceed Mr. Bailey as Vice-President.
— The stockholders of the Stock Yards National Bank of
South St. Paul, Minn., on the 12th inst. voted in favor of
increasing the capital from $50,000 to $100,000.
— The directors of the Nebraska National Bank of Omaha,
Neb., on the 8th inst. promoted Lewis S. Reed from the
cashiership to the vice-presidency, and elected W . E. Shep­
ard, formerly Assistant Cashier, to the office of Cashier. •£•
— The stockholders of the First National Bank of Lincoln,
Neb., on the 8th inst. approved a proposition to increase
the capital from $300,000 to $400,000. The enlarged capital,
which is in the nature of a stock dividend, becomes effective
at once and reduces the surplus from $200,000 to $100,000.
— The Bank of Richmond at Richmond, V a., will increase
its capital from $800,000 to $1,000,000, the stockholders on
the 8th inst. having voted unanimously to this effect. The
new stock will be offered pro rata to present shareholders
at $110 per share of $100. The bank’s officers, re-elected
for the ensuing year, are John Skelton Williams, President;
Frederick E . Nolting, First Vice-President; T. Iv. Sands,
Vice-President and Cashier; H. A. Williams, Assistant Cash­
ier, and L. D. Crenshaw Jr., Trust Officer. John T. Wilson
and Langbourne M. Williams are new directors on the board.
— The stockholders of the National Bank of Commerce,
Norfolk, V a., at their annual meeting January 8, ratified
the recommendation of the directors to increase the capital
from $500,000 to $1,000,000.
053
— Arrangements have been entered into for the consoli­
dation of the Bank of Wheeling and the National Bank of
West Virginia, at Wheeling, W . Va. If the present plans
are carried to completion, the Bank of Wheeling (capital
$200,000) will surrender its charter and transfer its assets
to the National Bank of West Virginia. The stockholders
of the latter are to meet on Monday next, the 21st inst.,
to act on a proposition to increase the capital from $200,000
to $400,000. They will also consider amendments to the
articles of association so as to permit an increase in the
number of directors and to provide for the election of addi­
tional (Jfficers. It is understood that Earl G. Ogleby,




— Cushman Quarrier, formerly Comptroller of the Louis­
ville & Nashville R R ., has been elected a director of the
American National Bank of Louisville, K y ., to succeed the
late J. S. Bockee. The latter, who was also Vice-President
jf the bank, died on the 28th inst.
— The annual meeting of the stockholders and directors
of the Exchange Bank of Macon, Ga., held on the 8th inst.,
resulted in the election of N. B. Corbin as Vice-President;
W . H. Burdick as Cashier (advanced from Assistant Cashier
and Charles P. Bannon and J. F. Minton as Assistant
Cashiers. The new board chosen consists of J. W . Cabaniss,
who was re-elected President; N. B. Corbin, E. S. Wilson,
B. L. Jones, A. T. Small, W . R. Rogers, Sam Mayer, A. D.
Schofield, George R. Turpin, E. A. Waxelbaum, A. L.
Adams and H. J. Lamar.
— On January 8 the stockholders of the Third National
Bank of Columbus, Ga., gave approbation to a proposal to
increase the capital fi'om $200,000 to $250,000. The
additional stock will be disposed of at $175 per share (par
$100) to present shareholders, the new capital becoming
operative April 1. Besides re-electing the old officers, the
board appointed W . H. Young an Assistant Cashier.
— In the Third National Bank of Atlanta, Ga., Joseph A .
McCord, heretofore Cashier, has been made active VicePresident, while Thomas C. Erwin has advanced from the
office of Assistant Cashier to that of Cashier. Mr. McCord,
the new Vice-President, has been connected with the bank
since its organization. He was elected to its board of direc­
tors a year ago. The bank has another Vice-President in
H. M. Atkinson, who was re-elected at the meeting on the
10th inst. Frank Hawkins is President of the bank and
Ralph W . Byers Assistant Cashier.
— J. W . Keyes, until recently a Vice-President of the Union
& Planters’ Bank & Trust Company of Memphis, Tenn.,
has been elected active Vice-President of the Bankers’
Trust Company of that city. The other Vice-Presidents of
the latter institution are R,. E. L. Wilson and O. B. Polk.
The President is R. T. Fant. '
— The proposition to increase the capital of the Exchange
National Bank of Spokane, W ash., from $250,000 to $750,000
was ratified by the stockholders January 8. The selling
price of the new shares is $200, thus giving a surplus of $500,000. The enlarged capital and surplus become effective
at once.
— An application to organize the Nevada First National
Bank of Tonopah, Nevada, was approved by the Comptroller
of the Currency on December 29. The capital, $100,000,
we learn, has been oversubscribed. New York capital is
interested in the movement, the applicants for a charter
being Malcolm L. Macdonald, Donald B. Gillies, Frank A .
Keith, C. C. Minzesheimer and Leo Speyer. Jacob A.
Cantor, ex-Borough President, is counsel for the projectors.
A modern steel office building, the first in Nevada, will be
erected by the bank, which will cater especialty to mining
interests in the vicinity of Tonopah.
— It was unanimously voted by the stockholders of the
First National Bank of San Francisco, at their annual meetng January 8, to increase the capital from $1,500,000 to
$3,000,000. The subscriptions to the new stock are to be
accompanied by a deposit of 2 5 % of the amount subscribed
for; payment of the balance is required by July 15 1907.
The articles of association were amended so as to increase
the board of directors from nine to fifteen members. The
six additional directors elected are J. K . Moffett, Cashier;
Walter S. Martin, J. H. Skinner, Assistant Cashier; Claus
Spreckels, George AVhittell and Clinton E. Worden.

138

THE CHRONICLE.

[V ol.

l x x x iv

.

CHICAGO STOCK EXCHANGE RECORD OF PRICES FOR 1906.
Continuing the practice begun by us two years ago, we furnish below a record of the highest and lowest
prices for each month of 1906 for all the leading stocks and bonds dealt in at the Chicago Stock Exchange.
In the compilation of the figures, which are based entirely on sale transactions, we have used the report of the
dealings as given in the Chicago Stock Exchange official list each day.
M arch.
A p ril.
June.
September. October. November. December.
M ay.
January, j February.
July.
August.
Low. High. Low. High. Low. High. Low. High. Low. High. Low. High. Low. High. Low. High. Low. High. Low. High. Low. High. Low. High.

C H IC A G O
R A IL R O A D

STOCK S.
34i4 3414
7712 77i2

Chicago & Oak Park_________
do
pref_______________
Chicago Union T raction____
do
pref_________________
M etropol W e st Side Elevated
do
p r e f.. . .
North Chicago Street_________
N orthw estern E lev ated ______
do pref.
_______
South Side E lev ated __________
Streets VV Stabie Car L i n e ..
do
pref . . . _________
W e s t Chicago S t r e e t . ______

199 200 193
7
734
6I2
2534 2838 25
50
5112 46
1238 H I4
11
45
61
61
5412
8934
8878 90
26U
27
28
6912 72is 68
SO
SO
73
2512 2712 26
67
67
93
95I4 97
2812
2914 30
‘ 98
9912 99
50
5412 45

194 155 155 155 160 16719 16712
198
634 714 638 7
6
712
6I2 6I4
22
24
2712 23I4 26
25
2312 24
5019 0OI9 5714 48
50
59
41!2 5731
6
6
1314 512 7
1314
478
4j8 51s
1834 46I4 21
21
1314
1212 17
62
62
64
60
58
68l2 6219 6414 61
91
89
93l2 8914 9012 8838 92
88I2 8934
26
30
293s 26
28
26is
27U 26i2 28
66
69
7II4 68
68I2 72
6818 6614 70
31
49
85
36
80
25
35
47
31
28
28I4 253s 26
24
281* 25
25l2 25
6819
65
6OI-1 6314 60
68
67
6412
95
8912 95
9412 99
9512 94
8912 97
2834 3OI4
30
27
2912 2834 2914
9934101 100 10034 100 100 102 102
100
3234 26
60
28
60
23
40
38
25

6
393,|
4
8778
26
66I2
30
2312
95
2734
99
25

140
578 6!8 534
20
2014 18
4638 45I9 5534 49
45s 434
51s 434
16
1778 17^8
58
555s
89
86I2 88i2 8534
28
27
30
27
7019 66I9 68
67
41
38
41
34
26
26
26
26
66
66
96
98
98
94
2914 28U 28I4 29
9912 99
99
98
30
2914 3312 30
63g

140 140 140
6
61s
5U
17
16
18
5014 5412
54
514 45s 5
2018 I 6I2 18
6319
62
65
87
88
85
2634
27
25
6712 65I2 68i->
36
30
45
27
2512 2519
66
65
98
91
94
29
2758 2914
9912 99
9912
36
29
34

ols
16
50
412
16
62
85
25
66
34
2434
62
90
2912
99
30

514
17
53
5I4
173r|
63
S612
2734
7219
443.
2614
641"
9212
3534
IOII2
32is

5
15
41
5
1714
60
85
25
6912
40
24I4
64
90
3234
97
29

538
16
5058
6
2014
63
8558
2712
72U
42
26
90
35
101
30

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

do
pref___ ________
Am erican Shipbuilding______
do
pref___ _____ ________
Booth ( A .) & C o_____________
do
p r e f.. .
Cal & Chic Canal & D ______
Central Trust Bank
Chic Brew ing & M a lt in g ..

7
159

7
162

Chicago Pneumatic T o ol____
55
Chicago Telephone___________ 135
Chicago Title & T r u st_______ 115
Continental National Bank

60
139
118

C hicago E d iso n .

.

.

D iam ond M atch
..
do
rights .
Illinois B r i c k _______
do
pref.
M asonic Temple
M ilw aukee & Chicago B rew ’ g
do
p r e f . ____
National Biscuit
do
pref
___
National Carbon
do
pref____
People’ s Gas Light & Coke
Sears, Roebuck & Co . .
do
pref_________ _ .
Sw ift & C o . .
The Quaker Oats C o ____
do
pref__________
United B ox Board & Pap C o .
do
pref.
W estern Stone...........
M IN IN G .
Adventure Con Copper
AHouez Alining.
Bingham Con M ining & S . .
D a ly -W e st Alining
H ubbard-Elliott C o p p e r '” '
North Butte Alining
'
Shannon Copper

93-| 712 938 714 Sl2 6
634
Sift 6i2 73g 614 7
6
6
734 6
778 7]f
56l2 57
5334 57
64
6 II4 5534 6078 54
6814 60
51
5734 54
56
66I2 5S34 6414 55
26
125 125 128 120 129 120 121 1173, 119 119 120 118 121 121 121 127 130 130 130
130 132 130 130 130 134 129 131 12919130 130 130
12812 12812
60
62 U 6 II2 7119 70
57
55
65
62
81
5712
66I2 61
5712 54
7414 7712
109 106 10934 106 10S 106 10734 107 108 107 108 108 108 108 110 110 112 110 110
2419 28
2434 27
29
30
31
1912 20
28
27
28
28
31
3112
38
38
39
40
38
40
38
38
38
38
38
38
3Si2 40
3719 40
3812
106 106
112 112 110 11312 110 111 108 108
107 107
58
5734 58
58
55
60
57
57
56
62
58
57
63l2 60
58
5812 58
1fiS3s 175
16
16i2 16
16
1
1
1
1
1
1
1
1
1
1
1
1
6
634 7
6
6
6
6I4 614
6 I4 7
160 165 148 I 6OI2 145 160 145 150 141 149 136 142 138 140 143 150 140 148 142 145 140 144
7
4
6
478
312 7
•
105 105
50
4812 5014
56
4912 50
58
63
59
50
50
49
49
54
58
54l2 4934 52
52
5112 49
51
115 138 115 124 101
116 105 1??,l9 117 1191» 115 121 118 120 119 121 118 120 115 118 114 117
11534 11638 112 11578 106 11412 103 10958 106 109l2|l06l2 10312 108 110l2 109l2 HOI2 110 111 109 10934 IO8I2 110
238 242
387 387
12819 121 1257g
1343.1 147 126 140 124l'» 135 12019 130 118 125li II8I9 131 1233, 128 123 lj 128 12419 1251"
2
.85
1.75
1]8
495s
4912 47
67
701* 60
5314 44
4819 4334 48I4 4119 531s 46
55
481s 48
45
67U 50
6358 50
7978 80
47
47
47
47
46
47
46l2 . . . . . . . .
46
4S
47
47
47
48
4612 46I9 46
134
212 212 218 214 2
21s 134 2
178 178
178
225o 23
2234 2119 22
21
2134
22
22
22
21i2 21
6934 6734 7714 73
66
69
63
62
66
7614 7512 7912
66I4 71
631
4 68I2 6212 68
67
69
67
6712
116 I I 8I2 115U 117 115 117 11312 118 11434 I I 6I4 116 118i2 116 11812 116 118 117 119 116]2 IISI2 116 11712
85
90
87
86i2
86
95
9434
88
90
86
89
90
91
88
89i2
8 U2
88
8512
8912 81
86i2 85
116 12219 119 12219 119 120*4 117 120M 119 121 119 121 115 119 115 119 119 120 112 11712
115 120
91
91
9312 9319 8914 92i2 8878 9214
6312
57
59
55
55
50
50
08
o su
99
9219 95
9214 941" 9219 95
1063.1 109I9 10419 108 10412 107 102 105 102 1043s 1021-. IO.tIi lOSl-i 1 1919 112 I I 8 I4 108*. 114U 10734 1137x
85 260
120 14719 125 140 125 13219 115 130 130 139 130 135 130 135 131 135 130 138 131 136 135 136
103 10634 102 104 102 10312 101 10512 1021? 105 10119 103 10119 lO.i 100 10312 10112 10234 100 10112 9919 102
12 1.31
2
15g 118
15g
178
34 lig
78
15g 134 2
2ig 212
2 l8 1»4 2
134 15g 2
l l 2 134 118
73,
107s 123S 67r 11% 514
1378 16
13U 1434 1U 2 14
10
1178 8I4 1034 85s 105s 105s 1212 105S 12
3119
28
3819
3212
30
20
3919
4?!
3H2
39
37
34
40
42
3834 29i2 3619 32
3712
3712
3112
35

912 11[8 9
912 1178
72
69
6OI2 7114 66
26
115 115 120
136 136
5734 55
5734 56
54
101 106I9 106 106 108
17
1778 1734
3S34
3934 39
36
40
108 108
64
60
64

1433,, 146
6312 71*4
47

4712

6634
11312
78
115l4

7034
116
82
117

10111 105ls
75 100
140 1531*
103 105
234
2>8
I 4I9 1714
3712 39

....

534 6I4
6I2 634
3619
4412 4434 3534 3534
1034 I 4I4
1212 13
15U 1534 I 4I4 1518
85I4 8514
6
6i2

BONDS.
American Straw board 1 st 6 s 10012 1003,, lino
C ass A ve & F G (S tL ) 5 s ____ 10212 103is|-----Chicago Board of Trade 4 s
Chicago Consol Trac 4J^s
1fl4 104
in33c 10319 10319
C hicago Auditorium 1 st 5 s . . 9634 9634
87
Chic Pneum Tool 1st 5 s ____ 80
8214 8312
C om m onw ealth Electric 5 s . . IO5I2 1057g 10534
Illinois Tunnel 5 s _______
9112 9312 90i4
Kan C ity R y & Lt Co 5 s ____ 100 100 1001s
Knickerbocker Ice 1st 5 s . . .
Lake Street El 1st 5s
99
991o 981*
Met W Side El 1st 4s . .
9312 9438 9414
Extension g 4 s . .
8834 89
88
North Chic St 1st 5s
1st 5 s ___ __
90

97s 13

934 1134

638

778

100
103
101

8ig IOI2

312

3 7g

414

8

81?

4

iom
914 103s 10
1878 205g 1912 19*4
4]8 43s 4
4

778

9812 9812
10314 10314 102l2 10219
55

1033,, 103
87
90
10578
93b
IOOI4

734 12

997s

. . . . 103
101

10312 103

103

1025s 1025c 102

8634
105
9112
IOOI4

88
84
82
81
86
85
10534 104 1053s 10312 10312 103
92
93
93
95
9112 94
9934 9934 9912
IOOI4
’ 99' l o o " 9912 9912 99
993o 100 100
99 100
98
98
933, 9112
9334 945s 9319 9414 93
95
883d 8719 88
88
87
89
871s 88
90
90
90

9214 9214
9334 94iS 9378 9434 943s 9434 9312 9438 9214 9312
97
89
92l2 95 10014 9712 9934 97
9712 96
10012
4 ,4 0 s . . .
9934
9934
9934
9978
9934
9912
9912 9978
100 100 " 100 100
100 100
1
120 120
People’ s Gas L & C 1st 6 s
> 10512 10578 10434 105
R efunding g 5s
Chic Gas Lt & C 1st 5 s . . 10734 108 107 108 10734 10778 107 107 107 107

North W estern El 1st 4 s ____
Ogden Gas 5 s . ______

10312 103l2
South Side Elev 4 J £ s _________ 1033S 103l2 10338 105% 10314
S w ift & C o 1 s t g 5 s __________ 103 10334 1027s 10338 103
U n ion El (L o o p ) 5 s ___ __ . , 105 10512 10518 1051s 10312
U n ite d Box Board 6 s . ______ |
6512
inn m i l , 100 IOOI9 sn
D e b e n tu r e 6 s _____________
75
85 i
C o n s o l g 5 s _________________ J S43.t 8434: 80
8134 82
W e s t D iv C it y R y 4 J ^ s ___ 9512 9512 9378 937s: 94
961* 9612’
I




2934 2934
9
10
15U 15l4

10219 10212 1021s 10214 102

1021S 1013s 1021g 10134 101*4
57
57
10012 10012
101 101 IOOI2 1005g

55
102

102

8312 82
10312 103
9112 90
9812
993s
96M ’ 9519
9119 92 M 92
93
86
87
8712 86

85
8178
10312 103
931* 9112
99i2
991s 99’

102
8258 81i2 8219 81i2 82
103 102i2 1,0314 103 103
92
90
90
99
99" 99”

8118 817g 81
1025s
*87* Vs” 90
9734 9734
99U 9914
95I4
96 " 95* "95I4 95
95
911? 90's
9134 91
9214 9119 92
91
84
853* 8578 853s 86
87
8512 86
90

8212
1025g
90
’95I4
91
8512
90

79
79
80
80
9214 931s 9034 9212 905s 91
9034 91
94
96
94
96
9312 9434 93
94

77
77
9012 S934 90ig
90
9012 91
90l4 9134 9212 927g 94
90

9912 9919 9934 9934
993j 100
997« 100
997o ion

99

1017x 1017b
106 106 . . . .
104

10358 102l2 10338 102 10234 102
103 102ls 10278 10112 10212 10178
10312 10312 10312 IOII2 102 IOII2
65
6614 65
68
6712 6518
inn
90
97
88
65
60
60
70
70
84
55
6518 61
94
891’

97
99

60

97

97

118 118
10219 10219
10412 105 104U 10434
10312 1031’

1017s IOII4 10112 101
1025s 102 10212 102
100
10112
70 *69* 7 7 " 75
7?1|
69
"
66’
66
*
70
*6512 6512
85
85
87

IO2I4 101
IO2 I4 10212
101*2
Vo” 70

97

99

. . . . 10412 10412 10412 105

l’o V
IO2I4 102 10212 102
10219 10112 101U 102U
102 10H2 102U
66 78 6512 68
68'2
92
09
90
7212 70
72
60
70

99

IOU4 IOOI2 101
102 102 102
100
77l2 " 72" 77”
R9*. os
90
69
7212 72l2
78
723g 70
87
87
87

THE CHRONICLE.

J a n . 19 1907.]

g X a tx « t a r y | (!r 0 m iix jc r c ia I g ii0 li5 lx ^ je tx r B
(F r o m o u r o w n c o r r e s p o n d e n t .)

London, Saturday, January 5 1907.

139

matter of fact, it took only[half a^million sterling. Up to
the present it has taken none in the new year; nor is it ex­
pected that it will take much. At the outside it is believed
that it will not take more than a million sterling. Never­
theless, it is quite possible that banks engaged in the Brazilian
trade may send out gold if rates decline here, for in that case
the operation would be profitable. It is impossible to esti­
mate how much gold will be required by Argentina. The
best opinion is that it will not be large. Nor is it possible
to estimate how much will be required by India. The belief
is that India will not “ ear-mark” much more than a million
sterling— at the outside not more than two millions sterling.
If that be so, London is in a position to supply all these de­
mands and the Bank of England even may be able to
strengthen itself.
fc*1
The India Council offered for tender on Wednesday 120 lacs
of drafts, and the applications amounted to nearly 669 lacs,
at prices ranging from Is. 4J^d. to Is. 4 3-16d. per rupee,
Applicants for bills at Is. 4 3-32d. and for telegraphic trans­
fers at Is. 4 5-32d. per rupee were allotted about 82% of the
amounts applied for.
The following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols, & c.,
compared with the last four years:

On Tuesday the Stock Exchange was closed, but on
Wednesday business opened very cheerful, and there was
more buying than for some time past. On Thursday there
was somewhat of a setback, partly owing to realizations to
secure profits, but largely owing to rumored difficulties in
New York. It is not easy to ascertain how the rumors are
set afloat, but some of them are manifestly absurd. Yet
they have a momentary effect. Yesterday there was an im­
provement and the tendency continued good all day.
In Paris, likewise, there is a decidedly more hopeful feeling.
Not only is it believed that external peace is assured during
the new year, but the manner in which the clergy have sub­
mitted to the enforcement of the Separation Law has re­
stored confidence and created a very much better feeling
than has existed for a long time. There is, therefore, a very
1907.
1906.
1905.
1904.
1903.
Jan. 2.
Jan. 3.
Jan. 4.
Jan. 6 .
Jan. 7.
considerable amount of speculation in Paris, and not only
£
£
£
£
£
has there been more French buying here this week than for Circulation................ 29,044,260 29,349,550 28,607.723 28,914,870 29,187.670
Public deposits------ 8.988,888
9,559,608 12,366,448
7,969,712
10,131,493
some months, but also the French banks have increased the Other deposits-------- 49,733.059 50.106,172 47,440,776 44,010,954 41,072.904
Governm ’ t securities 17,458,516
17.388,832 20,409,872 22,234,784
24,040,065
balances they are employing in London. At the monthly Other
securities------ 39,575,008
42,396,444 36,420,181 28,313,795 29,624,846
liquidation in Paris this week, the “ bull” account was found Reserve .notes&coin 19,688,586 17,849,043 20,951,807 19,531,263 19,694,594
Coln& bull..both dep 30.282,846
28,748.593 31,189,532 29,996,093
30,707.264
IB {Si
to have been largely increased. Rates in consequence were Prop, reserve to liabilities.......... p. c.
33 %
29%
34 15-16
37%
E 38%
higher than for a long time past— about 53^% in the official Bank rate......... p. c.
6
4
3
4
• •L 4
Consols, 2 % p. c —
86%
89 3-16
88 9-16
87 5-16
93%
market and about 7 % in the outside market. It is believed S i l v e r ........................ 32 7-16d.
30d. 28 3-16d.
26 13-16d. ' 22 5-16d.v,
Clear.-house returns 331.213,000 340,266,000 276,940,000 240,907,000 220.418,000
that the speculation is not a very strong one. But money is
The rates for money have been as follows:
so plentiful that no ill-consequences are anticipated.
Jan. 4. D ec. 28.
D ec. 21.
D ec. 15.
6
6
6
In Germany the pressure for money at the end of December Bank o f England rate_______ ______6
Open Market rate—
was as great as had been anticipated. The note circulation
Bank bills— 3 m onths____ 5 @ 5 1-16 5 % © 5 %
5 15-16 @ 6
5% @ 5 %
■ — 4 m onths------ --------4%
5%
5% @ 6
5% @ 5 %
of the Imperial Bank rose to over 8 8 % millions sterling, while
— 6 m onths------ 4% @414
4%
5
4%
Trade bills— 3 months____ 5% @ 5 %
6 @6%
6
6
the total gold held was 33
millions sterling. The note cir­
— 4 m onths____ 5% @ 5M
6
6
5% @6
culation exceeded the legal maximum by nearly 28% millions
Interest allowed for deposits—
y Joint-stock banks______ *
4
4
4
4
sterling. In other words, the Bank had to pay the 5 % duty B
B y discount houses:
on the latter amount. It is not feared that there will be a
4%
4%
4%
A t c a l l ......................................... 4 %
7 to 14 days................ —
4%
4%
4%
414
further advance in the Bank rate, but it is quite possible
that the reduction of the rate may be postponed. The great
The Bank rates of discount and open market rates at the
increase in the circulation is due in no small degree to the chief Continental cities have been as follows:
fact that the Imperial Bank has to finance the Imperial Gov­
Jan. 5.
D ec. 22.
Dec. 29.
D ec. 15.
%nk Open
Rates of
Bank Open
Bank Open
Bank Open
ernment. There is a large deficit which will have to be cov­
lie. M arket. Rate. Market. Rate. Market. Rate. M arket
Interest at—
ered by loans. But the Government does not choose to
3
3
3
3
3
3
3
3
7
5%
7
6
6
5%
5U
5%
bring out a public loan for the time being. It requires the
7
6
6
5%
7
5%
5%
5%
Imperial Bank to finance it. In spite, however, of the great
7
7
6
6
5%
5%
5%
5%
5
stringency shown by these figures, there has been exceedingly
4%
5
5
5
4%
5
4%
4
4
4
4
3%
3
%
3%
3
K
little decline in quotations upon the Bourse. The public
4%.
4%
4X.
4%
4%
4%
414 4 7-16
clings to its holdings, believing that trade is so good that
7% nom .
7% n o m .
7% nom .
7% nom .
4%
4%
4%
4%
4%
414
4%
414
there must very soon be a marked rise.
6
6
6
6
6
6
6
6
Here at home the general feeling is hopeful; but there are
Messrs. Pixley & Abell write as follows under date of
doubts regarding the situation in New York. As far as can
January 3:
be ascertained here, there is no foundation for the rumored
O L D .— There was again no com petition for gold in this m arket, and the Bank
difficulties. Still people are afraid to engage in new risks of GEngland
has been able to secure practically all the arrivals, am ounting to over one
until they are assured, firstly, that no gold will be withdrawn million sterling. The Bank o f England has bought £ 1,858,000, in which is included
£993,000 in bars, £615,000 from France; w hile£ 1 .060,000 is withdrawn, £1,000,000
from London for New York, and, secondly, that money will of which is “ earmarked” Indian gold. N ext week we expect £270,000 from South
soon begin to return from the interior in large amounts. If Africa. Arrivals— Cape, £866,000: Australia, £125,000; B om bay, £4,000; total.
there is a return of ease in New York, and the market recov­ £995,000. Shipments— Bom bay. £26,200: Calcutta, £25,000; total, £51,200.
V E R .— H olidays have interfered with general business, but in spite o f this,
ers, there will in all reasonable probability be an increase of theS IL
tendency has remained good and we are l-1 6 d . better on the week at 32 7-16d.
activity here in London, for there is no question that both The Indian Bazaars quote R s. 8 2 % , w ithout, however, sending any orders. A r­
New Y ork , £205,000; China, £141,000; total, £346,000. Shipments— B om ­
on the Stock Exchange and in commercial circles credit is rivals—
bay, £202,000; Calcutta, £100,000: total, £302,000.
perfectly sound here, and business is kept in check solely
M E X IC A N D O L L A R S.— There have again been a few transactions in dollars at
by the fear of large gold withdrawals.
their melting value. Arrivals— New Y o r k ,£9,000. Shipments— B om bay, £36,200..
Since the new year set in there has been a sharp decline in
The quotations for bullion are reported as follows:
rates for money. Indeed, yesterday bills were taken in some
G O LD .
Jan. 3 . D ec. 27.1
S IL V E R .
Jan. 3.
D ec. 27.
London Standard.
s. d.
s. d.
London Standard.
d.
d.
cases under 5 % . For the moment the supply of money in
gold, One, o z _____ 77 9
77 9 |Bar silver, fine, ,oz_____32 7-16
32%
the open market is very large because the Bank of England Bar
U .S . gold, o z ................ 76 4
76 4 | *• 2 m o. delivery, oz_32%
32 7-16
76 4 j Cake silver, o z ________ 35
34 15-16
has discounted bills on an immense scale, and because, German gold coin, o z . . 76 4
French gold coin, o z ___ 76 4
76 4 [Mexican dollars_______ nom .
nom .
furthermore, the Government has disbursed very large sums Japanese
yen, o z ......... 76 4
76 4 |
at the end of the year. On the other hand, the market owes
' The following shows the imports of cereal produce into
to the Bank of England over 5 millions sterling and will have the United Kingdom during the season to date compared
to repay the amount very soon. There is to be set off against with previous seasons:
that, however, the fact that the Bank on Monday will pay
IM PO RTS.
very large sums as interest on the National Debt. There is,
Eighteen weeks.
1906-07.
1905-06.
1904-05.
1903-04.
therefore, a difference of opinion as to whether the repay­ Im ports o f w h e a t ... ................ c w t .29,331,700 30,522.500 37,968,400 33,007,203
B a r l e y ........................... ..................... 10,555,300 11,114,000 10,744,600 15,032,957
ments to the Bank or the disbursements on account of the O ats....................................................... 4,217,100 4,692,100 4,636,000 5,882,165.
860,495
826,401
974,659
Government will have the greater effect. It is possible that P e a s...................................................... 831,310
e a n s ...................................................
435,720
413,820
651,101
947,24R
there will be ease for a week or two. But the collections of B
Indian c o r n ......................................... 17,096,600 15,002,500 15,337,100 19,914,819
the revenue will now be on an enormous scale, and very soon F l o u r ................................................... 5.250.100 5,359,500 4,359,420 8,762,280
so much money will be transferred from the open market to
Supplies available for consumption (exclusive of stock on
the Bank of England that the Bank will again have complete September 1):
control, the more particularly as it holds a very considerable
1906-07.
1905-06.
1904-05.
1903-04.
amount of bills falling due this month and next month. W heat im ported.......................cwt.29,331,700 30,522,500 37,968,400 33,007,203
Im ports of flo u r ............................... 5,250,100
5,359,500
4,359,420
8,762,280
The general expectation is that the 6% rate will be reduced Sales of home-grown.........................10,959,007 14,837.411 6.532.091 7,568,124
if ease returns in New York and the danger of gold shipments
Total .............................................. 45.540.807 50,719,411 48,859,911 49.337.607
to New York ceases. But it is not expected that the rate Average
price wheat, w eek-----------26s. Od.
28s. 3d.
30s. 4d.
26s. 3d.
27s. 9d.
30s. 2d.
26s. l i d
will bo reduced below 5 % . Assuming that there are no gold Average price, season____________ 26s. 3d.
shipments to New York, the general belief is that a 5% rate
The following shows the quantities of wheat, flour and
will suffice and that we shall be able to supply the demands maize afloat to the United Kingdom:
of Brazil, Argentina and India. How much altogether will
This w eek■ Last week.
1905-06.
1904-05.
1,693,000
1,740,000
2,465,000
be required is not known. In December it was expected W heat ........................................ q rs. 1.643,000
Flour, equal to ........................... q rs.
177,000
197,000
270,000
140,000
that the Brazilian Government would take £800,000. As a Maize ......................... .................q rs. 760,000
785,000
560,000
680.000




THE CHRONICLE.

140

English Financial Markets— Per Cable.
The daily closing quotations for securities, & c., at London
as reported by cable havebeen as follows the past week:
London.
Week ending Jan. IS.
Sal.
M on.
Tues.
Wed.Thurs.
Fri.
Silver, p e r o z -------------------- d. 315s31 13-10 315s
319 -1 0 3134
31s *
Consols, new, 2 ) 4 % ------------- 80 11-16 86 15-16 873-s
87 1 10 87 1-16 86 15-10
MfFor account---------------------- 86 15-16 87%
87 5-16 87%
87)4
87 1-16
French Rentes (in P a r .) .- f r . 95.5234 95.47% 95.373-2 95.22% 95.00 -94.80
Russian Imperial 4s________ 77 L4
78%
78)4 ■ 78%
78)4
78
Amalgamated Copper C o____123
12334
123 "
122%
11954
■
6Anaconda Minins C o---------- 15
\bV*
15
15
1434
14
Atchison Topeka & Santa Fe 109 Ji
110%
109%
1105-s
109
108%
Preferred------------- ------------ 104
105
104
105
104%
104
Baltimore & O hio___________ 12234
123%
123
122%
122
122%
P r e fe r r e d -.......................... 97
97
97
96 34
96%
96
Canadian P a cific ..................... 196%
199
197
197%
19551
196
Chesapeake & O hio_____ I . . 555".
56‘ 3
5534
55
54
54
Chicago Great W estern_____ 17%
17%
17%
17%
17%
17
Chicago Milw. & St. Paul. . .1 5 8 ^
102
15 9 1 0 0 %
159
159%
D enver & R io Grande, c o m .. 401 >
41 Hi
41 %
41%
41
40
S4%
84Mi
85
85
84%
Preferred----------- ---------- - 8 4 K.
Erie, com m on_______ _______ 43?s
- 443< 43‘ i
4334
41%
40>4
1st preferred........... - .......... 77
77%
77%
7734
77
75%
2d preferred ....................
68
68
67%
66 %
67
(A i ■
Illinois Central_____________ 173
175
174
173
172
177
148%
147%
147%
146%
146
Louisville & Nashville______ 147%
Mexican Central.................... 27
27%
27)4
26%
27 "
26%
Mo. Kansas & Texas, c o m -- 41
41
41%
41%
40%
403.4'
Preferred--------------------------T3J-i
74 %
73 %
73%
72
72
National R R . of M exico . . . 60%
01
60%
60
60%
60
N. Y . Cent. & Hudson River 137
1373-2
135%
13534
134
134
N. Y . Ontario & W e s te rn .-. 47%
48
4734
47%
46%
46%
N orfolk & Western, co m ____ 93%
933-2
93%
93
92%
92y
Preferred--------------------------.9 3 %
93 V*
93
92
93
92
Northern P a cific .-.................. 1S6%
186
183
104
____ 163V2
aP ennsylvania......... ............... 70%
70 y
70)4
70
095*
09 %
a Reading C o......... ................... 70%
71%
70%
70
68 %
68 %
aFirst preferred--------------- 47
47
47
46%
40%
46y
aSecond preferred ----------- 483-$
483-3
483-2
48
46%
463-2
R ock Island C o----------- -------- 293-2
30%
30
295-6
___ 28%
Southern P a cific-.................... 953-3
98%
983-2
98%
97%
97%
Southern R y . , com m on......... 32%
3334
323-3
32%
29%
29%
Preferred...................... ........ 94
93%
94
94
S8
883-3
U nion Pacific, com m on_____ 1S4%
187
1863 j
181%
185
184%
Preferred....... ........................ 96
96
90
90
90
96
U. S. Steel Corp., c om m o n .- 5034
5133
50%
513*
50^'
49%
Preferred_____ ___________ 1093^
110%
109%'
1095s
109%
1083-3 .
183-3
183-3
18%
18
163-3
Wabash _____ ______________ 1833
Preferred_________________ 37
3734
38
3734
37%
.34%
Debenture “ B s’ ’ . . .............. 78
78
78
78
78
78
a Price per share.

b £ sterling.

FOREIGN TR AD E OF N E W Y O R K — MONTHLY
STATEM ENT.— In addition to the other tables given in
this department, made up from weekly returns, we give the
following figures for the full months, also issued by .our New
York Custom House. The first statement covers the total
imports and exports of merchandise and the Customs re­
ceipts for the twelve months of the last two seasons:
Customs Receipts
at New York.

Merchandise Movement to New York.
M onth.

Exports.

Imports.

January. . 65,414,702
F ebru ary. 63,034.102!
M a r c h ___i 67,654,570
A p r i l ____ | 65,427,317!
M a y _____ 61,483.9301
J u n e ____ i 59,275,738:
J u l y -------- 62,679,926
August -_ 62,182,900!
September; 58,644,148
69,513.980;
O ctober N ovem ber1 70.307,143!
D ecem ber 1 83,875,5731

60,787,016
66,183,436:
70,546,661
58,243.120
55,263,731
50,092,465

51.186.894!
54.208,572

58.143,285
68,407,750!
58,785,883!
62.084,002

1905.

1905.

1906.

42,508,066
38,180,015
47,289,626
49,178,417
42,365.553
45,961,192
40,183,484
48,845.396
45.900.930
49.281,991
50.593.931
59,000,112

57,601,992
48,721,595!
53,287.747
51.746.5SO
52,512,865'
49,134,772
44,601,047!
56,153,299
49,638.991!
55,658.846!
52,503,1281
50,934,135!

18.703,721:
10,322,548:
18,038.705:
15,191,359
15,243,9871
15,419.921
17,955,839!
19.081,828:
17,101,861
18,946,438!
17,792,149
19,608,553

15.S48.906
14,597,442
15,781.796
12,530.157
12,696,300
13,142,232
14.538.S86
17,507,283
17,030,037
17,869,567
15,883,365
16,255,884

Total... 789,494,035713.933,415622,495,597;559,688,703209,666,909183,681,855

The imports and exports of gold and silver for the twelve
months have been as follows:
Silver— New York.

Gold Movement at New York.
Imports.

Month.

1906.
J a n u a r y -----------February ---------M a r c h __________
A p r i l ___________
M a y ____________
June ___________
J u l y ____________
A u g u s t _________
S e p te m b e r _____
O c t o b e r ------------N ov em b er ...........
D ecem ber --------

$
290.01a
266.134
1,699,643
11.806,868
29,455.503
669,438
4.147,352
1,330.277
25.822.574
17,320.171
625,028
1,380,413

1

1905.

Exports.
1906.

1905.

S
$
S
314,196 1,043,875 15,068.907
610,959 2,589,500 14,647.636
134,046 2,292,099
3,333,176
1.151.489 1,158,601 1,136,912
115,739
267,609 732,500
43,400 3.908,573
763,140
38,982 1,041,294
469,424
127,900
24,929
413,224
285,100
70,248
1,881.931
95,320
203,343
7.455,721
173,000
261,740
39,631
282,370
377,127 865,111

Imports, j Exports.
1906.

1900.

S
S
577,062 7,120,032
360,429 5,054.276
281,334 3,832,597
224,365 3.754,298
360.832 5,175,142
201,926 4,048,771
270,689 3.S22.728
380,662 3.768,442
334.834 3.326,881
323,085 2,117.519
525,576 2,607,461
734,824 3.251,168

T o t a l _________ 94,813.416 17,299,736 6,944,166 39,174,850 4,575,618 47,394,715

Auction Sales.— Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction:
By Messrs. Adrian H. Muller & Son:
10
50
30
10
12

Stocks.
S ta te B a n k
............. 325
L in c o ln T ru s t C o -------------------395 34
U . S. M te e . & T r . C o . . . . . 4 7 5
J os ep h D ix o n C ru cib le C o . . 4 0 9 %
L a w y e r s’ T it le In s. & T r .C o .275

i
S tocks.
! 15 H a ck e n s a ck (N . J .) T r . C o . -303 ’4
j 23 U n ite d B a n k N o te C o rp . p f
a n d 5 16 .67 s c r ip , SoO each
!
$ o 2 .7 5 per sh .
!

DIVIDENDS.
We have changed the method of making up our weekly
list of dividends. Heretofore our record has included only
the dividends announced each week, but for the convenience
of our readers we now enlarge the scope of the compilation




[ rOL. L X IX IV .

so as to show also dividends previously declared, but the
date of payment of which has not yet arrived. In the new
form the statement indicates all the dividends announced
for the future by all large or important corporations.
D ividends announced this week are printed in italics.
Name of Company.
Railroads (Steam)
Atch. Topeka & Santa Fe, pref. (No. 17)
Atlantic & North Carolina______________
Bald Eagle V a lle y _____ ________________
Baltim ore & Ohio, com m on _______ __
Freferred ___________________________
Buffalo Rochester & P itts., com. & pref.
Canada Southern______________________
Central Railroad of New Jersey (quar.) - - 1
Clcve. Cin. Chic. & St. Louis, common__
Clev. Cin. Chic. & St. L .,p r e f. (q u a r .)..:
Cripple Creek Central, com mon (quar.).
Preferred (quar.)____________________
Del. Lackawanna & Western (qu ar.)__
Delaware & Hudson (qu ar.)____________ |
Delaware River R R . & Bridge__________j
Great Northern (quar.) ............................ j
H unt. 6c B r'd Top Alt. R R . & Coal, p,ef.|
Illinois C e n r a l_____________________ . . _ !
Lake Shore & Alichigan Southern...........
Louisville & Nashville.................................
Alahoning Coal R R ., com m on_________
Alichigan Central......... ................................
.Missouri Pacific (N o. 5 6 )--------------- -------Nashville Chattanooga & St. Louis .
New York Chicago & St. Louis, first pref. !
Second preferred____________ _________ 1
Northern Pacific R y . ( q u a r . ) - . - ----Peoria & Bureau Valley_________________1
Pitts. Cin. Chic. & St. Louis, c o m m o n ..'
Pittsburgh & Lake E rie.................... ..........
Reading, com m on........................................I
Reading, first preferred__________________1
V a n d alia______ ______ _________________ j

Per
Cent.

Feb.
Feb.
Feb.
Mch.
3
2
Mch.
Feb.
3
1% Feb.
Feb.
2
Mch.
1% Jan.
Jan.
iy
Jan.
1
234 Jan.
2 % d Mch.
3
Jan.
1% Feb.
334 Jan.
334 Mch.
6
Ian.
Feb.
3
6
Feb.
3
Jan.
Jan.
2y
3
Feb.
5
Mch.
4
Mch.
1 % Feb.
4
Feb.
2
Feb.
Feb.
6
2
Feb.
Mch.
2
2341 Feb.
•2%
1%

Street Railways.
Columbus R y ., pref. (qu ar.)..............—
1%
1%
D etroit United Railway (qu ar.)________
East St. Louis & Suburban, pref. (guar.').
1%
Grand Rapids R y ., pref. (quar.)
1%
1
Helena (Mont.) Light & Railway, com__
Preferred (g u a r.)....................... .......... .
1%
Houston (Texas) Electric C o., p referred.: *3
Jacksonville (Fla.) Elec. C o., com . & p f.: $3
Aliiw .E lec.Ry.& Lt.,pref. (quar.) (N o. 2 9 )j 134
Montreal Street Railway (guar.)________ i 234
Philadelphia Co., com mon (qu ar.)_____
1y
Spokane & Inland Empire R R .. pref____
1%
United Traction (Pittsburgh), preferred.
2%
W estP m n R y s.p ref. (Pittsburgh) (quar.)\ 1)4
Banks.
Pacific (ffuar.)......... ....................... ...............i
E x t r a .................. .................................. ...... !
Twenty-third W ard ............. .......................
Extra _______________________________

When
Payable.

2
2

3
1

Feb.
Feb.
Feb.
Feb.
Ian.
la v .
Feb.
Feb.
lan.
Feb.
Feb.
fan.
Jan.
Feb.

Central Dist. & Printing Telcg (g u a r .)..
Chicago Pneumatic Tool (quar.)............
Consolidation Coal (guar.)...........................j
E x tr a ________________________________ I
Consol. Ice, Pittsburgh, pref. (q u a r .).-j
Distillers' Secur. Corp. (quar.) (N o. 17).
Dominion1Coal. L td ., preferred........
(E .I.)du P on t deNem’ rsPow .,com .(quar)!
du Pont Internat. Powder, pref.. extra.;
Edison Electric 111. (Boston) ( q u a r .) .- . I
Electric Bond & Share, pref. (qu ar.)—
Harbison-W alker R efract., pref. (quar.)!

1

1W

2
1
134
134
2

iy

1%
334
1%
1%

iy

234
1%
33-3
3

1H

1y
Inter. Smokeless P. & C h .. com . (extra).
%
Int. Steam Pum p, pf. (quar.) (N o. 31).
1)4
2
La Belle Iron W orks...................................
2
8
Stock d ivid en d -.......................................
Michigan State Telephone, pref. (quar.)
IK
Alinneapoiis General Electric, co m m o n ..
S2
P r e fe r r e d ....... ..........................................., $3
Afonongahela R iv . Cons.Coal & Coke, p f , ! $2.25
Alontana Ore Purchasing (quar.).............. $10
E x t r a ....... .................- .............- .......... ..
5
2
New Y ork Air Brake (qu ar.)....................
Omaha Elec. Light <fc Power, preferred____ $2.50
Osceola Consolidated Alining....... .......... ..
$6
Pacific Coast C o., com m on (qu ar.)_____
1y
First preferred (quar.)........................
Second preferred (q u a r .)............ ..........
13-3
y
Street’sW est.StableCarLine.com .(quar )
$3
1
Tenn. Coal Iron &. R R . Co., com . (quar.)
2
Preferred (qu ar.).....................................
Torrington C o ., common............................ ..
4
2
TrintonPotteries, pref. (guar.) (.Vo. 36) iy
United Copper, com m on (qu ar.)_______
Com m on, extra______________ _____ _
%
1
U. 3 . Cast Iron P. & F d y ., com . (q u a r.).
Preferred (quar.).................. ...................
1%
2
United States Rubber, old pref. (quar.).
2
First preferred (qu ar.).............................
H3
Second preferred (q u a r .).......................
Vulcan Detlnning, preferred (qu ar.)-----234
Western Telephone & Telegraph, pref------

1%

1%

15
5
15
15
31
31
15
15
1!>
11
7
20
10
1

Jan. 30
Feb. 1
Feb.
1

On (I

1%
1%

Jan.
Feb.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan
Feb.

to
to
to

5

\y

I Holders o f rec.
1 Jan. 11
to
1 Holders o f rec.
1 Holders of rec.
to
31 Jan. 24
31 Jan. 24
to
1 Holders o f ree.
1 Holders o f rec.
31 Holders of rec.
1 Holders o f rec.
1 Holders o l rec.
to
20 Jan. 2
19 Holders of ret.
to
1 Jan . 30

1 Jan . 26
I Jan. 17
1\Jaiv. 29

Fire Insurance.
Phenix, Brooklyn (quar.) (No. 103)____!

3
1
I1
1
4
1%
1%

o f rec. Jan.19a
o f rec. Jan. 12
to
Feb. 20
of rec. D ec. 31
to
Feb. 12
of rec. Jan. 19
o l rec. D ec. 31
to
Jan. 21
to
Feb. 1
of rec. Feb.
1
o f rec. Feb.
1
to
Feb. 1
to
Feb. 10
of rec. Feb. 5
o f rec. Jan. 10
of rec. Jan. 15
of rec. Feb. 20
of rec. Feb. 5

Jan. 31
Jan. 31

Feb.
Feb.
Feb.

y

1 Holders
25 Holders
UFcb.
1
27 Holders
11,Jan. 22
li Holders
Holders
21 D ec. 29
1 Jan. 22
1 H aiders
1 Holders
1 Jan. 19
2
11 Feb.
15 Holders
1 Holders
1 Holders
9 Holders
15 Holders

to
to

3

1*3

to
Feb. T-' 1
to
Feb.
1
of rec. Jan. 8
to
Feb. 28
to
Feb. 28
of rec. Feb. 5
of rec. Dec. 31
to
Jan. 31
of rec. Feb.
1
of rec. D ec. 15
to
Jan. 21
to
Jan. 21
to
Jan. 20
of rec. Feb. 23

lj./»H . 16
I Jan. 16
1
1

•y

Miscellaneous.
Amalgamated Copper (quar.)_______
E x t r a ___________________________
American Cement (N o. 1 5 ) . . ______
Extra __________________________
American Chicle, common (monthly)_____
Amer. Dist. Teleg. o l N. J. (qu ar.).
American Glue, preferred___________
American Graphophone, pref. (q u a r .)-.j
American Light & Trac., com. (guar.)___:
Preferred (gtuir.)_____________________ I
American Locom otive, com m on (qu ar.). i
Preferred (qu ar.)__________________ . . !
American W riting Paper, preferred_____ j
Bethlehem Steel Corp. , pref. (guar.)______ :

Dec. 28
llJan. 20
1 Holders
1 Feb. 14
1 Feb. 14
15 Holders
1 Holders
l J a n . 19
li Holders
21 Holders
21 Jan. 12
2l! Jan. 12
21 Jan. 4
15! Holders

Feb.
Feb.
Feb.
Feb.

Trust Companies.
Hamilton, Brooklyn (guar.)_____________
Lawyers' Title Insur. & Trust (qu ar.)___1
N assau. Brookyn (guar.)______________ |

2 )4

Books Closed.
Days Inclusive.

Feb.
Ftb.
fan.
fan.
Fib.
fan.
Feb.
Feb.
Feb.
Ftb.
Feb.
fan.
April
Feb.
Feb.
Ian.
fan.
Feb.
Feb.
F<h.
fan.
fan.
Feb.
Mch.
fan.
Feb.
Feb.
Feb.
fan.
Feb.
fan.
Feb.
Feb.
Feb.
Feb.
fan.
Feb.
Feb.
Feb.
fan.
fan.
fan.
fan.
Feb.
Jan.
Feb.
Feb.
Feb
Jan.
Jan.
Feb.
Feb.
Feb.
Jan.
Jan.
Jan.
Mch.
Afch.
Jan.
Jan.
Jan.
Jan.
Feb.

to
25 Jan. 25
to
25 Jan. 25
to
24 Jan. 12
to
24 Jan. 12
to
20 Ftb. 15
to
22 Jan. 13
to
1 Jan. 20
15 Holders o f rec.
to
1 Jan. 20
to
I Jan. 20
to
25 Feb. 9
Dec. 27
to
Holders of rec.
1 Holders o f rec.
15 Holders Of rec.
31 Jan. 25
to
25 Jan. 16
to
1 Holders Of rec.
13 Jan. 27
to
13 Jan. 27
to
21
28 Jan. ' s '
to
1 Jan. 19
to
15 Mch. 6
25 Jan. 16
15 Holders of ree.
1 Holders o f ree.
to
1 Jan. 17
31 Holders of rec.
to
12 Jan. 27
20 Holders of rec.
to
1 Jan. 11
15 Holders of rec.
to
1 Jan. 22
1 Holders o l rec.
20 Holders of ree.
to
1 Jan. 22
1 Holders of ree.
of
rec.
Holders
1
25 Holders of rec.
291Holders of rec.
29 Holders o f rec.
to
22 Jan. 9
1 Holders 0/ rec.
to
24 Dec. 29
to
1 Jan. 16
to
1 Jan. 16
to
1 Jan. 16
to
25 Jan. 13
to
24 Dec. 28
to
1 Jan. 12
to
1 Jan. 12
1 Holders Ol rec.
25 Holders Ol rec.
30 Jan. 17
to
30 Jan. 17
to
1 Feb. 9
to
1 Feb. 9
to
31 Holders of rec.
31 Holders of rec.
31 Holders of rec.
19 Jan. 10
to
1 Jan. 20

to

Feb. 10
Feb. 10
Jan. 24
Jan. 24
Feb. 20
Jan. 21
Feb. 1
Feb. 1
Jan. 31
Jan. 31
Feb. 25
Jan. 20
Afch. tba
Jan. 25
Jan. 31
Jan. 31
Jan. 25
Jan. 16
1
Feb.
1
Feb.
Jan. 28
Feb. 1
D ec. 20
Jan. 16
Feb. 1
Jan. 15
Feb.
1
Jan. 10
Feb. 1
D ec. 20
Feb. 1
Jan. 21
Jan.
1
Feb. 2
Jan. 17
Jan. 17
Jan. 19
Jan. 19
Jan. 19
Jan. 21
Jan. 19a
Jan. 10
Feb. 1
Feb. 1
Feb. 1
Jan. 25
Jan. 10
Feb
1
Feb. 1
Jan. 21
Jan. 17a
Jan. 30
Jan. 30
Feb 28
Feb 28
Jan. 15a
Jan. 15a
Jan. 15a
Jan. 20
Jan 31

a Transfer books not closed. 6 F ive per cent declared, payable in two install­
ments. d Nine per cent declared for year, payable In quarterly installments.

THE CHRONICLE.

J a n . 19 1907. J

Statement of New York City Clearing-House Banks.—
The following statement shows the condition of the New
York City Clearing-House banks for the week ending Jan. 12.
It should be distinctly understood that as to all items except
capital and surplus the figures are the averages of the daily
results, not the totals at the end of the week. In other
words, in reporting loans and deposits and holdings of
specie and legal tenders, the practice is to take the aggre­
gate of the amounts for the several days of the week and
divide this aggregate by the number of days.
W e omit two ciphers (00) in all cases.
Capital.

Hanks
00s omitted.
Bank o l N. Y . .
Manhattan Co
M erchants’ __
M ech a n ics'____
A m e r ic a ............
P h en lx________
C i t y ___ _____
Chemical______
Merchants’ E x .
Gallatin_______
B utch. & D rov.
Mech. & Traders
Greenwich __
Am er, E x ch __
Com m erce_____
Mercantile ____
Pacifle _______
Chatham ______
People’s
North Am erica.
H a n ov er______
Irvin g _ . _
Citizens’ C en t..
N a ss a u _______
Market & F u lt.
Metropolitan .
Cora Exchange.
O rie n t a l............
Im p. & Traders’
P a r k ..............
East R iver____
F o u r t h ..............
S e c o n d _______
F i r s t __________
N. Y . Nat. E x .
B o w e r y _______
N. Y . C o u n ty ..
Gcrm an-Am er .
Chase__________
Fifth Avenue. .
German E x c h ..
G erm an ia_____
Lincoln _______
G arfield_______
F i f t h __________
Metropolis
W est S i d e .___
Seaboard s . .
1st N at., Bklyn
Liberty ......... ..
N. Y . Prod. Ex
New Am ster___
As t o r ________
S t a t e ..................

Surplus.

§
s
2,000.0
2,056,2
2.050,0
2,863,7
2,000,0
1,490,0 ,
3,000,0
3,680,6
1,500,0
4.0S3.8
1.000.0
375,1
25,000.0 20,663,4
300,0
7.914,6
600,0
485,4
1,000,0
2,353,2
300,0
157,3
700,0
386,9
500,0
646,9
5,000,0
4,607,3
25,000,0 13,811,8
3,000,0
4,711,9
500,0
772,7
450,0
1,018,2
200,0
466,3
2,000,0
2,197,8
3.000,0
7,850,7
1,000,0
1,157,8
2.550,0
860,5
352.5
500,0
1,518,4
1,000,0
2,000,0
809,2
4,767,6
3,000,0
1,202.9
750,0
7.030 9
1,500,0
3,000,0
8,144.2
123,4
250.0
3.000.0
3,083.1
1,777,8
300.0
10,000,0 18,109,2
1,000,0
910.4
778.2
250,0
200,0
840.7
750,0
603.8
5.000,0
4,159,6
100,0
1,840.5
200,0
814,1
200,0
936,5
300,0
1,670.4
1,-000,0
1,391,1
250,0
456,6
1,000,0
1,660.3
200,0
846.2
1,000,0
1,260,1
300,0
685,3
1,000,0
2,224,9
1,000,0
571,4
1.000,0
2S0.9
350,0
727,7
1,000,0
564,0

Loans.
$
17,453,0
21,150,0
12,085,2
19,448,0
21.S92.2
6,838,0
140,848,3
23,528,S
5,840,0
8,195,5
2,392,4
6,663.0
5,644,8
26,882,4
132,176,9
20,853,0
3,368,6
5,559,0
2,077,3
16,632,8
53,708,5
7.424,0
20,556,3
3,328.2
7,030,3
11.050.5
35.656,0
10,309,5
24,S97,0
67,773,0
1,262,6
18.159,0
9,720,t
84,759,5
10.044,2
3,930,0
5,087.1
4,091,7
47,946,2
11.491,0
3,218,0
4,665.6
16,114,5
7.40S.4
3,079,2
10,248,0
4,236,0
17.073,0
5,011,0
10.713.3
6,253,5
5,337,4
5,177,0
12,514,0

Lcgals. Deposits, a lie­
s'rve

Specie.
S
2,791,0
4,065,0
2,733,5
2,559,0
3,41S,7
1,458,0
19,537,1
4,462,6
1,279,4
858,6
516,1
987,0
1,066,0
3,211,1
16,604,7
3,536,8
286,7
716,6
128,5
2,571,3
11,301,1
1,479,7
3,445,0
207.7
1.0S4.5
2,565,4
5,860,0
2,245,2
4,443,0
15,073,0
245,6
2,887.0
1,051,0
14,643,3
2,146.7
617,0
1,091,8
842,0
12,103,7
2,812,8
150,0
504,5
2,239,4
1.712,8,
537.8:
703,71
535,0
3.556,0
761,0
1.338.4
1,338.8
687.0'
980,0
3,624,0,

S
1.4S7.0
2,627,0
889,6
2,339,0
2,567,2
137.0
10,523,9
1,819,9
309,2
668,5
59,0
944,0
369,9
1.320,0
10.727,6
1,226,3
552,7
871,3
598.5
1,437,1
6.751.9
483,7
1,879,6
584,6
708,6
293,4
4.600,0
435.2
1,167,0
4,974.0
158.2
2,409,6
1.329,0
2,068,0
460,3
249,0
545,9
184,4
1,247,6'
610,3
875,0
799,0
2,264.6
340,0
238,9'
1.352,6
576,0
1.066,0
545,0
664.3
410,9
545,4
195,0
182,0

141

New York City, Boston and Philadelphia Banks.— Below is
a summary of the weekly returns of the Clearing-House banks
of New York City, Boston and Philadelphia. The New York
figures do not include results for non-member banks:
W e omit two ciphers (00) in all these figures.
Capital
and
Surplus.

Banks.
New York
Dec. 15-Dec. 2 2 ..
Dec. 29. _
Jan. 5_.
Jan. 1 2 ..
Boston.
D ec. 22Dec. 2 9 ..
Jan. 5_Jan. 1 2 ..
Phila.
D ec. 2 2 ..
D ec. 29_.
Jan. 5 . .
Jan. 1 2 ..

s’ ’

Loans.

T

~

279,782,3 1027,666,3
279,782,3:1027,183,3
278,792,3 1032.973.0
279,782.3[1049,667,5
279.714,011048,803,7

Specie.

Deposits, a Circu­
lation.

Legals.

S
171,940,1
176,627,6
179,323,0
172,951,4
177,601,6

S
S
68,126,2 967,061,4
69,565,5 971,648,8
71,371,5 981,301,1
77,341.0:1000,578,3
83,269,7; 1008,922,4

S
53,551,1
53,525,6
53.670,8
53,654,2
53,690.9

and since Jan. 1 1907, and for the corresponding periods in
1906 and 1905:
E X P O R T S A N D IM PO RTS O F SP EC IE A T N E W Y O R K .

Reports of Non-Member Banks.— The following is the
statement of condition of the non-member banks for the
week ending Jan. 12 1907,based on average daily results.

Exports.

Imports.

Gold.
Week.

Since Jan. 1

Week.

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

Specie.

$
878.7
1,305,1
998,3
4,218,3
5.889,0
7,437,6
1.067,0
5,838,7
5,110,4
4,186,1
2,676,8
3,137,2
4,262,0
4,004,0
1,649,8
2,393,0
1,818,6
7,991,5
3,232,6
4,779,0
1,391,6
769,5

S
13.1
32.6
78,2
116,9
335,0
659.5
1S.3
47.4
268.9
12.3
125,3
25,9
21,4
212,0
26,6
46,0
62,2
361.6
53.2
603.0
322.3
75,3

S
32,7
53,5
23.3
365,2
2S7.0
179.1
63.1
492,1
220,0
294,3
104,9
383.7
297.8
232,0
157.9
209,0
191.8
179.5
288.6
239.0
13.7
17.3

Borough of
Brooklyn.
200,0
150,0 2.767,4
Borough . . .
150,0
408.5 2,728,8
Broadw ay . .
164,0 1.952,7
300,0
B r o o k ly n __
702,9 4.798,3
252,0
Mfrs.’ Nat
943,8 10,391,1
Mechanics’ . 1.000,0
894.6 6,450,0
750,0
Nassau Nat .
638.0 3,218,0
300.0
N ational City
209,1 1,662,9
100.0
North Side. U nion .......... 1,000,0 1,077,1 11,595,0

60,4
23,4
180,2
406,2
359,7
227,0
128,0
30.4
309,0

224,6
197,4
99,1
207.0
894,3
491.0
304.0
110,9
628,0

Jersey City.
F irst N a t .'..
Hud. Co.Nat.
Third N a t ...

400.0 1,163,2
703.6
250,0
331.5
200,0

4,139,5
2,672.8
1,857,8

204,1
134.5
49,9

316,6 2.760,3
108.2'
210.3'
90,2
444,3

Hoboken.
First N a t __
Second Nat .

110,0
125,0

2,457,2
1,529.7

167,7
59,6

Banks.

Capi­
tal.

Sur­
plus.

N .Y . City.
Boroughs of
$
M an.& B r'x.
$
W ash. H ’g’ ts
100,0
168,8
C e n tu r y ____
200,0
152,6
Chelsea Exoh
100,0
98,8
C o lo n ia l____
100,0
405,4
C olu m bia___
300,0
436,7
Consol. N at. 1,000,0 1,122,4
200,0
F id e lit y ____
148,4
500,0
14th S treet..
168,1
200,0
H a m ilton ___
225,7
Jefferson . .
500,0
635,0
250,0
Mt. M orris..
189,3
200,0
M u tu al-------260,9
200,0
250,8
19th W a r d ..
100,0
318,3
Plaza ______
100,0
108,5
Riverside —
200,0
200,2
12th W a r d ..
100.0
164,9
23rd Ward
750,0
789,3
Union E xcli100.0
3S3.2
Yorkviile —
500,0
550,9
Coal <fc I.N at.
200.0
204,3
34th St. N at.
200,0
116,5
B att.Pk.N at.

578.7
193,3

Loans.
and
Invest­
ments.

54.9
54,4l

Clear­ | Other | Net
ing
1Banks, Deposits.
Agent. | <t-c.

S
22.S
110,8
274,4
203.0
____
140,2
210,0
233,1
58,0
61,1
131,3
122.0
600,0
1S.0
62,0
10,0

S
682,1
1,255,1
1,232,3
5,052,9
6,298,0
4.749,3
1.044.0
6,496,1
5,581,8
4,149,5
.3,184,8
3,420,7
4,503,0
4,440,0
1,912,5
2,789,0
2,190,2
7,782,9
3,691,3
4,181,0
1,484,7
576,8

176,5
98,8 3,062,1
238,4
82,6 2,911,0
276,4
34,4 2,274,4
651.8
198,8 5.229,9
1,089.4
179,4 12,581,5
756,0
5,905,0
404,0
84,0 3,595,0
51,1
225,6 1.833.4
1,3 79,0 1,009,0 13,465.0

176.9
74.0

585,0
80,3
27,7

6,477,1
2,395,8
2,122.6

89,2
134,7

2,278.6
1,738,7

T ot. Jan. 12. 11237,0 15257.3 133256,6 5.857.118,106,1! 13.843.2 5.146,2 142568.1
T o t. Jan. .r> 11237.0 15257,3'132616.2 5.597.0 7.818.1; 14.308.8 5.074.5. 141913,9
T ot. Dec. 29. 11237.0 15257.3 131423.1 5.S50.5 8.012.5 12.070.4 5.106.7 138219.9




M exico ________ __________________
South A m e rica ____________________

Total 1906-_____ ________________
Total 1905..........................................
Silver.
Great B r ita in ........... ...... ..............
F ran oe__________________ _____ ____
G erm an y__________________________
W est I n d ie s ............ ......... .............. M exico
___________________
South A m e rica .___________________
Total 1 9 0 7 - .....................................
Total 1906----------- ----------------------Total 1905_______________________

Since Jan. 1

$305

$365

4,262
30,608
861

39,655
10,313
S3,408
14,071

$40,832
34,377
26.826

$147,812
60,653
53,304

Fran ce. G erm any___________ ________

Deposit with

S
77,6
70,3
82,6
515.4
411,0
304,4 !
105.6
425.5 !
167,6
233.6
322,9
263,1
262,3
422.0
101,6
198,0
123.(1
168,0
211.0
603.0
62.2
73,7

S
2,269,155,7
2,414,023,5
1,722,704,0
2.125.942,2
2,223,955,2

43,680.0 186,122,0 16,125,0 5,625,0| 210,833.0 S,709,0
182,565,6
S
%
43,680,0 183,439,0 15,100,0 6,094,0, 204,569,0 8,687,0
133,627,7
15.755, ( 27.1
43,680,0 178.521,0 15,748,0 6.265,0 214,861.0 8.656.0
199,483,6
24,145,0 27.7
43,680,0 180,671,0 15,367,0 6.062,0 216.902,0 8,654.0 206,504,6
13,821,8 26.2
1
18,945,0 25.8
51,165,0 219,546,0
53, 4r5,0
! 248,512,0|14,127.0
162,415.4
23,302,6 25.6
51,165,0 218,194,0
53,760,0
136,443.1
247.041,0 14,041,0
5,975,0 26.6
51,165,0, 217,221,0
57,806,0
! 250.944,0:14,057,0
156,237,8
114,424,2 26.2
51.165.0 217,770,0
146,917.0
57,355,0
248,700,0
14,027.0
27.9
22,476.0
I
6,181.2 i25.7
5,878,5 '25.9
a Including for Boston and Philadelphia the item “ due to other banks" and also
2,523,8 22.7
Government deposits. For Boston these Government deposits am ounted on .Ian.
7,6S5,0 25.1
12 to $4,616,000: on Jan. 5 to S4.614,000.
22.0
6,510,0
18,929,9 23.9
Imports and Exports for the W eek.— The following are
106,740,5 25.6
17,799,7 26.7
the imports at New York for the week ending Jan. 12; also
3,989,7 21.0
totals since the beginning of the first week in January:
5,601,1 28.3
2,594,1 28.0
15,892,8 25.2
FO R E IG N IM PO RTS A T N E W Y O R K .
63,694,9 28.2
7,218,0 27.0For week.
1906.
1904.
1907.
1905.
20,680.4 25.7
3,734,3 21.2
D ry G oods__________________
53,572,499
S3,271,067
$3,477,427
S3,218,387
6,554,3 27.3
General Merchandise_______
13,577,891
8,287,914
10,421,432
9.905,54S
11,453,6 25.0
40,891,0 25.5
T o t a l ...................................... $17,150,390 $11,558,981 $13,898,859 $13,123,935
10,184,5 26.3
Since January 1.
22,097,0 25.3
D ry G o o d s _________________
$7,400,255
86,983,661
$6,604,601
86.066,855
76,500,0 26.2
General Merchandise____
25.517,362
19,283,927
20,703,808
18,910,741
1,562,4 25.8
19,944,2 26.5
Total 2 weeks______ _____
S32.917.617 $26,267,588 $27,30S,409 $24,977,596
9,429,0 25.2
66,110,4 25.2
9,828,2 26.5
4,332,0 20.0
The following is a statement of the exports (exclusive of
6,216,6 26.3
specie) from the port of New York to foreign ports for the
4.041,4 25.3
51,637,2 25.8
week ending Jan. 12 and from Jan. 1 to date:
12.846,0 26.6
E X P O R T S FROM N E W Y O R K F O R T H E W E E K .
4,368.1 23.4
5,784.9 22.5
18,029.2 25.0
1907.
1906.
1904.
1905.
7.885,0 26.0
3,155.0 24.5
For the week________________ $12,981,302 S14.182.952 S10.080.269
S9.787.293
9,876,1 20.8
Previously reported________
12,458,650
11.231,310
10,207,530
9,225,597
4.510,0 24.6
20,132.0 2p.9
Total 2 weeks......... ............. S24,212,612 $26,641,602 319,305,865 S19.994.823
5,186 0 25.1
8.517,9 23.5
7,178,4 24.3
The following table shows the exports and imports of
5,979,5 20. G
5,041,0 23.2
specie at the port of New York for the week ending Jan. 12
15,153,0 25.1

T o t a ls ______ 124,050,0 155,654,0 104S.808.7 177,601,6 83.269,7 1008,922,4 25.8
I
I
a Total U nited States deposits Included, $16,510,300.

Legal
Tender
and
Bank
Notes.

Clearings.

$208,875

S214,875

1,940

Y,946

16,000
2,718,130

534,000
4,824,500

$659,315

$931,439

300

847

$915
29,751
49,877

$3,721
52,880
124,271

$659,615
904,915
709,317

S932.286
2,014,409
1.3S0.308

$80,543
18,778
7,046

S180.872
61,725
13,621

Of the above imports for the week in 1907, $4,536
were American gold coin and $300 American silver coin.
Of the exports during the same time $15,000 were American
gold coin a n d ______ were American silver coin.

B a u lih ig ancl fin a n c ia l.
Write for copy of our 12 page circular of C om parative V alues
o f R ailroad B on d * describing about 60 issues listed upon the
N. Y. Stock Exchange Felling at less than par value, with high
and low range since January 1 1905

Spencer Trask & Co,
Branch Office, Albany, N.Y. W illiam and Pine Sts., New York.

M

o

f

f

a

t

&

W

h

i t

e

members New Y ork Stock Exchange.
5 N A SS A U S T R E E T .

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

D e a le r s in In v e s tm e n t S e c u r itie s .
C O M I S S ON O R D ER S E X E HUTED FOR C A SH O N LY

14*2

THE CHRONICLE.

For Dividends see page 140.

Wall Street, Friday Night, Jan. 18 1907.
The Money Market and Financial Situation.— Decidedly
easier money market conditions at home and abroad are the
important developments of the week. Saturday’s bank
statement showed a surplus reserve of $8,640,000, as against
practically nothing the week before, and it is a well-estab­
lished fact that this amount has been increased this week.
Further favorable reports have been made by the Bank of
England, the Bank of France and Bank of Germany, and the
former has reduced its minimum discount rate from 6 to 5 % .
Notwithstanding these facts, the stock market has Deen
decidedly weak, and prices for all classes of railway securities
have shown a tendency to decline. Evidently the announce­
ment of a new stock issue by the Chicago & North Western
Company, the needs of the Southern Railway as set forth
by its new President, rumors of impending issues by other
corporations, or more obscure factors, have exerted a greater
influence in investment circles than the easier money market
conditions mentioned. From whatever cause the demand
for securities which usually obtains soon after the opening of
a new year, and which was supposed to have been held in
abeyance by money market rates, has not made itself felt
now that these rates are about normal.
The open market rates for call loans on the Stock Ex­
change during the week on stock and bond collaterals have
ranged from 2 % to 5 % . To-day’s rates on call were
2 % @ 3 % % . Prime commercial paper quoted at 6 @ 6 % %
for endorsements and 6 @ 6 % % for best single names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £508,824, and the per­
centage of reserve to liabilities was 45.30, against 39.97
last week.
The discount rate was reduced from 6 to 5 % . The Bank
of France shows a decrease of 8,250,000 francs in gold and
an increase of 1,950,000 francs in silver.
N E W Y O R K C IT Y CL E A R IN G -H O U SE B A N K S.
Differences
from
previous week.

S
124.050.000
C apital________________
155.654.000
Surplus________________
Loans and discounts___ 1,048,808,700 D ec.
53,690,900 Inc.
Circulation_______ —
N et deposits....... .......... - al008,922,400 Inc
177.601.600 Inc.
Specie -----------------------83,269,700 Inc
Legal tenders--------------Reserve held--------------25% o f deposits_______

S
858.800
26,700
8,344,100
4,650.200
5,928,700

1906.
Jan. 13.

8,640.700 Inc.

Surplus reserve_____

1905.
Jan. 14.

S
S
116,472,700
115.972,700
140.800.500
135.482,500
1,005,041,600 1,064,336,800
52,990,800
43,020,100
997.206.200 1.119.160,100
178.329.500 215.591,400
83,780,700
88,657,900

260,871,300 Inc. 10,578.900
252.230.600 Inc. 2,086,025
8,492.875

262.110.200
249,301,550
12,708.650

304,249.300
279,790,025
24,459,275

a Slti,510.300 United States deposits included, against $16,401,600 last -week and
$8,476,400 the corresponding week in 1906. W ith these United States deposits
eliminated, the surplus reserve would be $12,768,275 on Jan. 12 and 84,248,225
on Jan. 5.
N ote.— Returns o f separate banks appear on the preceding page.

Foreign Exchange.— Though only moderately active, be­
cause of the absence of mail facilities, the market was firm
this week and it promptly responded to the ease in the local
money rate and to the decline in the Bank of England
minimum to 5 % ; the tone was strong at the close.
To-day’s (Friday’s) nominal rates for sterling exchange
were 4 8 2 @ 4 82% for sixty day and 4 8 6 @ 4 86% for sight.
To-day’s (Friday’s) actual rates for sterling exchange were
4 8125@ 4 8150 for long and 4 8550@ 4 8560 for short and
4 8625@ 4 8635 for cables. Commercial on banks 4 8 0 % @
4 81 and documents for payment 4 8 0 % @ 4 8 1 % . Cotton
for payment 4 80% @ 4 8 0 % , cotton for acceptance 4 8 0% @
4 81 and grain for payment 4 81% @ 4 813^
To-day’s (Friday’s) actual rates for Paris bankers’ francs
were 5 2 1 % a @ 5 20% a for long and 5 1 8 % a @ 5 18% for
short. Germany bankers’ marks were 94@ 94 1-16 for long
and 9 4 % @ 9 4 13-16 for short. Amsterdam bankers’ guil­
ders were 40 l-16fc@40% a for short. Exchange at Paris
on London to-day 25 f. 19 c. Week’s range 25f. 23c. high
and 25f. 19c. low.
The week’s range for exchange rates follows:
—L ongSterling. Actual—
4 8550
H igh............4 8125
@ 4 8150
I 4 8475
L o w ______ 4 8065
@ 4 8075
Paris Bankers’ Francs—
5 18 H a
H igh______ 5 21)4 a
@ 5 205-6(1
5 20
L o w ............5 23>g
@ 5 22)4
Germany Bankers’ M arks—
94 54
H igh............ 94
@ 94 1-16
L o w ______ 9314
<3 94
945*6
Amsterdam Bankers’ Guilders—
40 1-16A
H igh...................................................
40
L o w ------------------------------------Less: a 1-16 o f 1 % .
Plus- k 1-16 of 1 % .

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

-Cables@ 4 8560
@ 4 84S5

14 8625
I 4 8565

@ 4 8635
@ 4 8575

@ 5 1854
@ 5 19 % a
94 13-161
94 11-161
® 40 % a
@ 40 1-16

h 3-32 o f 1% .
y 3-32 o f 1% .

The following were the rates for domestic exchange on
New York at the undermentioned cities to-day: Savannah
buying 50c. per SI,000 discount; selling 75c. per SI,000
premium. Charleston selling SI per S I,000 premium. New
Orleans bank 20c. per S I,000 premium; commercial 10c. per
51.000 discount. Chicago 5c. per S I,000 discount. St.
Louis 20c. per S I,000 premium. San Francisco SI 50 per
51.000 premium.
State and Railroad Bonds.— No sales of State bonds have
been reported at the Board ithis STT’#'" 1'




l x x x iv

.

If there has been any increase in the volume of business
in railway and industrial bonds it is owing apparently to the
movement of a few specific issues and not to a larger in­
vestment demand.

iiiati fears' HjazKWt.

1907.
Jan. 12.

[V o l .

United States Bonds.— Sales of Government bonds at the
Board include $20,000 3s, coup., 1908-18, at 103 to 103% ,
and $5,000 4s, coup., 1907, at 100% . The following are the
daily closing quotations; for yearly range see third page
following.

2s.
2s,
3s,
3s,
3s,
4s,
4s,
4s,
4s,
2s,

1930 --------------- registered
1930....... .............--cou p on
1908-1918--------registered
1908-1918----------- coupon
1908-1918-.sm all coupon
1907 __________registered
1907_____________ coupon
1925 .................. registered
1925_____________ coupon
1936.Panama Canal coup.

Interest
Periods

Jan.
12

Jan.
14

Jan.
15

Jan.
16

Q— Jan
Q— Jan
Q— Feb
Q— Feb
Q— Feb
Q— Jan
Q— Jan
Q— Feb
Q— Feb
Q— N ov

*10454
*104M
*102
103^
*102 >4
*10054
*10054
*129h
*129^
*104

*10454
*10454
*102
*10254
*10254
*10054
*10054
*129H
*1293^
*104

*10454
*10454
*102
*10254
*102)4
lo o n
*10054
*z28H
*129)4
*10354

Jan.
17

Jan.
18

*10454 *104541*10454
*10454 *104541*10454
*102 '*102 |*102
103 ! 103 1*10254
*102)4 *10254 *102>4
*100H\ *100 J41*10054
*10054 !*10054i*100 54
*128H|*128H i*12854
*129^1 *129H *12854
*10354 *10334 '*10354

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

Railroad and Miscellaneous Stocks.— The stock market
has been active and generally weak under liberal offerings.
This was especially true on Wednesday, when more or less
urgent liquidation of three or four issues increased the total
transactions to nearly 1,300,000 shares. On Thursday
liquidation was suspended and a substantial recovery was
generally made, but to-day the selling pressure was renewed
with increased force and quotations in many cases declined
to the lowest figures recently recorded. St. Paul closed
8 points lower than last night, 6 of which it lost during the
last hour. Reading is over 4 points lower and other prom­
inent issues have declined from 2 to 4 points to-day.
North Western has declined throughout the week on the
announcement of a new stock issue. It closes 14% points
lower than last week. Delaware & Hudson has also steadily
lost, closing 8 points lower. Great North, and Nor. Pacific
are (ex-div.) 10% and nearly 10 points lower respectively.
Amalgamated Copper has lost a substantial part of its
recent advance, being over 7 points down. Anaconda
Mining has covered a range of 10% points, closing at the
lowest. General Electric is the only active stock that has
advanced nearly 2 points during the week. Steel common
is down 2 ^ and the preferred 1 % .
For daily volume of business see page 152.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.
Week ending Jan. 18.

Sales
for
Week.

Range Year 1906.

Range for week.
Lowest.

Alice Mining . ________
1.100 S7 Jan
Am er W oolen rights____ 7,620 2c. Jan
Bethlehem Steel C o r p ...
500 18K Jan
Chic & East III, pref . .
50 120 Jan
Chic Mil & St P instalm’ t
certfs 10% paid______ 1,400 137 Jan
D o prf certfs 10% paid 1.200 147 Jan
Chic & Northw r ig h ts.. 11.767 17 Jan
Comstock Tunnel______ 6,300 37c. Jan
Consolidation Coal_____
200 99K Jan
Cripple Creek Central. . .
100 73 Jan
General Chemical______
100 75 K Jan
P referred ___________
400 101 Jan
General Electric r ig h ts.. 4,728 11 Jan
H B Claflin C o________
100 103 Jan
Keokuk & Des Moines.
100 11 Jan
K nickerbocker Ice, pref.
200 68 Jan
N Y & N J T elephon e.. .
10 115 Jan
R i g h t s _______ ______ 4,500 4 Jan
N or Pacific receipts____ 18,346 17J^Jan
Ontario Silver M iring. - . 10.S50 654Jan
Quicksilver M ining____
1 Jan
100
Sears, R oebuck & C o.,pf
400 9.3 54 Jan
Standard Mining_______ 1,400 S3 M Jan
U S Leather____________
100 12 Jan
P referred ____________
500 106 Jan
V a n d a lla ......... .................
126 93 Jan
Vulcan Detinning______
300 8 Jan
Preferred____________
100 53 M Jan

Lowest.

Highest.
15 S7K Jan
14 5c. Jan
16 20>£Jan
IS 120 Jan

17 S2V4
12
3c.
14 l~'A
18 125

18 141 Jan
18 149 Jan
18 175iJan
15 40c. Jan
14 9 9 Jan
15 73 Jan
14 75)£Jan
12 lO l^ J a n
12 l l ^ J a n
18 103 Jan
14 11 Jan
15 68 Jan
17 115 Jan
17 4 54Jan
18 20% Jan
17 8 Jan
1 Jan
17
I d 94 Jan
17 ?3.60 Jan
10 12 Jan
18111>|Jan
15 93 Jan
1,
9 54Jan
17l 53 Jan

14
15
18
14
14
16
14
15
14
18
14
15
17
12
17
12
17
15
15
16
15
15
14
17

Jan
Dec
Oct
Oct

Highest.
S9H N ov
25c. Dec
26 H Aug
126H June

_ _ _ ____
__ _
__ _

10c. Mch 40c.
Sept 100
95
Nov SO
69
Dec S4)4
74
N ov 106 54
102
11H Dec 12H
11654 Feb 117
8
N ov 14
66
Dec 85 Vi
124
Oct 155 tf
4H Dec

_ _

Mch
N ov
Oct
Feb
Feb
N ov
Feb
Apr
Sept
Feb
Dec

1H June by. Dec
IX Mch 2H
93
Dec 95
S 2tf Dec 85
Jan
10
July' 14 54
Feb
10354 July 117
82 H Mch 85
June
8
Dec 15V4 Jan
50
Jan 7054 O ct

Outside Market.— Weather conditions and the weakness
which developed on the Exchange have combined to make
the market for unlisted securities very dull. Prices up to
to-day held fairly firm but at the close losses were general.
Nipissing Mines advanced from 13% to 14% but sold down
to-day to 13% . United Copper common moved up from
7 3 % to 7 5 % , then dropped to 7 1% ex-dividend. It re­
covered to 7 3 % , but to-day ran off to 7 1 % . Utah Copper
was strong and advanced from 37% to 4 1 % , the close to-day,
however, showing a loss to 37T Tennessee Copper has
dropped from 53% to 4 9% . After advancing about 2
points to 3 2 % , Greene Consolidated Copper closes at 3 0 % .
Greene-Cananea went down from 22% to 22, advanced to
2 3 % , but reacted finally to 2 2 % . Boston Consolidated
Copper rose 2 points to 33% but ran down finally to 3 0 % .
British Columbia Copper advanced fractionally to 14% , lost
steadily and ends the week at 11. Davis-Dalv Estates rose
2 points to 19% but is now down to 17% . Trinity Copper
fell off from 32% to 3 0 % , then ran up to 40 and back again
to 3 7 % . Manhattan Transit was a feature, advancing from
5 % to 6 % and closing to-day at 6 %
Mackay Companies
common sold up from 73 to "74% and dropped back finally
to 7 3 % . American Can preferred gained a point to 55; the
close to-day was at only 5 1% . Western Ice, after losing
about 3 points to 2 5 % ,advanced steadily to 3 0 % , but drop­
ped to-day to 27. Waterbury Company stock made it?
appearance this week and advanced from 37% to 4 2 % .
Outside quotations will be found on page 152.

New York Stock Exchange—Stook Record, Daily, Weekly and Yearly
O C C U P Y IN G

TW O

S T O C K S —H I G H E S T A N D L O W E S T S A L E P R I C E S
S a tu rd a y
J a n 12

M onday
Jan 14

T u esd a y
J a n 15

W ednesdax,
J a n 16

T h u rsd a y
J a n 17

PACJES

STOCKS
N E W Y O R K ST O C K
EXCHANGE

J-ridav
Jan 1 8

Jtanye for Y ear 7.906'
Sales n
On basis o t 1 0 0 -sh a re lots
the.
W eek
Shares
H igh est

Kanae tor P r e v .o v tY ear ( 1UOS;

R a il r o a d s .
85 k M ay - 1 1 0 4 s e p 11 7 7 k May 93-k M ar
106 1 0 7 k 1 0 5 k 1 0 7 k 1 0 5 k 1 0 6 k 1 0 3 k IOC3. I tch . T op ekaifcSan ta Fe 2 9 ! , ^
1.9 : z 93 D ec 27 106 Jan 3 99 Jan 105 k SeP
100 -i 10, k 100*3 101
l o o k 1004 A
Do ‘ p r e f...................
'1 0 0 k 01
3,400 1 3 1 4 J ’ly 3 1 6 7 k Jan 20 120 Jan 170 A p r
1 2 * k 130
1 2 5 4 127k A tla n tic C oa st L in e R R ..
127 4 1 2 8 4 128 4 1 2 9
16,6 A l o o k May : 12 5 4 Sep 2 1 1 0 0 4 Jan 117 A n g '
119 119V 1 1 8 k 119-4 118 4 H 8 k
117 k 1 1 3 4 B a lt im o r e & O hio
67t 9 l O ct 2 ’. 9 9 4 J an 5 91 M ai 100 A tig
94
*93
94
1 J D o p r e f........................
93 4 93 4
9 :? k 9 3 k *93
5 6 k Ma> y 14 N o v
794 814
784 80k
7 7 4 79*. B rook ly n R apid T ra n sit. 529,326 71 J ’ ly IS 94 4 J a n 28 0 k - I - ’,
110 125
1 2 1 N o v r 15 3 Sep 5 140 Slay 153 'J a n
>115 128
'1 1 2 125
'11*2 125
B uffalo R o c h e s te r & P it t s
1 :9 4 .Vov > tr* 1> D e c 12
■130 ......... 'i i :0
'1 3 0
....
....
D o p r e f .......................
130 1 4 2 4
S3 Jan 1: 87
•80
8H
Keb 8 8 l " D ec 9 V M a y
'8 0
88
*80
88
*8»
88
Buffalo c& S u sq n e , p r e f.
189k 1 9 1 k 1884101
/ Canadian P a c ific ............. 51,600 1 5 5 k May 5 ’ 01 4 D e c I * I 3 0 V Jan 1 7 7 4 S ep
1 8 8 k 190 4 187 190
30
05 4 J ’ ne30 7 0 k Jan 8 67 Nov 7 4 k A u g
'6 4
6 5 k * 6 4 k 6 5 4 *65
65
65 4 ■64
' •'anada S o u th e r n .............
15 2 04 M ay 2 239 k M ay24 190 May 235 O ct
■215 220
■215 220
'2 1 5 220
J 2 1 > 213
Cen tral o f N e w J e r s e y ..
5 1 k 53 4
51 k 52k
53 k 5 3 k
5 1 4 52 4 C h esapeake & O h io ........... 2 0 ,0 2 : 51 4 N o v l l 6 ”>k A n g 30 45 4 May 60 'a M ar
400 25 4 s e p 1; 3 5 k O ct 8
25
2a
*23
2 / C h ica g o & A lt o n R R ........
24 4 2 4 4
300 70 D e c 20 77 4 O ct 5
68 >......... 69
69
.......... 69
D o p r e f ..........................
66 4 6 6 4
7,00t> 16 J ’ne-’ t 23 k Jan 20 1 7 4 M aj 25 *s M ar
17
17
16
16k 17 s-1 7 " m
16k
16 4 16 4 C h icag o G rea t W e s t e r n ..
7 9 4 Sep 4 86 4 J an 17 8 3 k M»\ 89 Sep
79 4 * 7 8 4 7 9 4 *76
*75
76
*75
77
d
D o 4 p. c. d e b e n tu re s
70 D ec 24 80 Jan 31
*68
72
*09 Hi 73
6:14 69 4 *68
7 1 k *69
7 13.
60 J ’ ne 7 8 4 Sep
D o 5 p. c. pref. “ A ” ..
1,901 2 4 k N ov 14 3 9 k J an 22 29 M ot 37 4 A p r
25
24
24*
2 4 k 25
24 k_ 24 4
D o 4 j). c. p re f. “ B ” ..
24 k 2 4 k
154 k 157 4 154 4 15 6 k 153 156 k 153-4 155 4 1 4 6 4 1 5 5 4 C h ica g o M ilw . & St. Paul. 2S0.200 *116 4 D ec 29 199 k D e c 17 168 4 Mai, 1 8 7 4 A p r
1,200 160 D ec 19 21S A n g27 1 8 2 4 Jan 192 4 A p r
165
■163 165
160 163
164 164
165
163 165
D o p r e f..........................
33
34
32k 3 34
3 3 k 31
3 1 k 35 k
32k 33k
D o s n b s c r ip w a r ’ nts h 20,361 3 2 4 D e c 31 33 4 D e c 31
197 204 4 190 Hi 197 4 187 4 1 9 2 k 188 1 ' 9 4 186
187 k C h ica g o & N o rth W estern 48,6 JO 192 A p r 27 240 Jan 15 a io o ^ J ’ne 249 J an
300 225 A u g 9 270 M ar 30 34 Jan 2 6 5 4 F e b
230 230
227 233
■226 23 5
234 2.34
230 230
D o p r e f ..........................
■165
170
168 J ’ n e -8 198 Jan 15 150 Jan 225 J au
'1 6 0 170
'1 6 0 170
1 6 ) 170 C h ic. St. P. M in n . <fc O m .
160 170
" 3 0 0 175 N o v l4 202 J a n 15 195 Jan 230 J a n
170 180
160 165
165 165
170 180
■165 175
D o p r e f..........................
2
*9
12
•9
12
*9
9 k A .prl9 1 8 k Jan 19
12
94
9 4 C h ica g o T e r m ’1 T r a n sfe r .
9k
9k
7 k Jan *20 J ’ n e
*22
28
70u 25 D ec 19 4 2 4 Jan 2 l
*22
28
*22
*22
28
28
2 3 4 23 4
1 7 4 Jan 4 2 4 J ’ly
D o p r e f..........................
8O11 3 k M ay 21 1 3 k FeD 20
54
5
54
5 k C h icago U n io n T r a c tio n .
54
*54
54
6 J ’ nt 13 k
54
5k
5k
2,301 I l k J ’ ly 12 47 4 M ai 12 3 0 k J ’ly 54 F e b
174 174
174 174
1 7 ‘4 17 s
1 7 k 18
17k 18k
D o p r e f..........................
1.70U 89 D e c 2i 1 0 9 k J.m 15 90 Jan 111 M ar
90
88 ■* 88 V» *88
8 3 k 89 C leve. C m . C h ic. <fc St. L .
894 90k
8 8 k 89
'1 0 8 110
109 111
*108 4 1 1 0
108 110
110 J 'ly 19 118 Jan 23 1 1 5 k J ’ ly 12134 M a r
'1 0 9 111
D o p r e f..........................
7*,400 ‘2 9 4 J an 4 41 O ct 3 2 2 k Jan
37
33
3 7 k 3 7 4 C olorad o <fc S o u t h e r n ___
38
3 8 4 3S k
3 8 4 38 k
334
30 4 A p r
225 6 6 4 A p r 3 0 73 4 F e b 20 52 May 69 k D e c
*63
69
69
69
*68
69
68
6 8 k 6 8 k *G8
D o 1st p r e f o r r e d ___
3,110 43 May 2 5 * D e c 3 3 2 4 M ay 55 D ec
57
5 7 4 *56
5 7 4 57k
67
5 6 4 57 4
5 7 k *57
D o 2d p r e fe r r e d ........
7,350 189 M ay 2 23 l k N o v2 2 1 7 8 4 May 240*4 O ct
2154216
220 2 2 0 4 219 219 V, 2 1 5 4 2 1 9
2 1 0 4 215 4
e la w a re & H u d s o n . ..
} , ‘ >00 4 3 7 k May 2 560 M ay 2 4 335 Jan 498 4 O ct
480 480
500 635
4 * 5 609
’500 535
>500 535
elaw . Lack:. & W e s t ’n .
0,10V 3 6 k May 2 5 1 78 Jan 26 27 k Mav 3 9 k D ec
37 4 39 4
39
39 k
40 4 4 1 4 " 3 9 k 41
3 7 k 3 8 4 D e n v e r & R io G ra n d e___
701 83 O ct 2'i 91 4 J an 2 1
82
81
81
* 8 1 4 84
82 4 * 8 1 4
80k 814
D o p r e f ..........................
8 3 k May 9 1 k D e c
401 7 9 k D e c 31 102 F e b 9 76 4 Jari 96 4 D ec
85
80 4 8 0 4
90
*80
80
80 4 * 7 9 4 S3
*81
D etroit t)n tt e il.....................
200 16 J ’ ly 13 2 2 78 Jan 11 I l k Slay 2 2 k N ot
*18
193.
►18
1 7 4 13 D u lu th So. Bn ore <6 A t l ..
ia k
* 1 8 4 1 9 34 * 1 8 4 1 3 k
700
35
*35
39
32 A p r 28 45 Jan 11 21 Mav 4 6 k N o v
36
39
35
35
36 Hi 36 'a *35
D o p r o f..........................
183,450 3 8 4 M ay 2 5 0 k Jan 10 3 7 4 May 5 2 k A u g
3 9 4 42 V,
414 42k
38k 40k
334 39k
4 1 k 42 k
4,525 7 4 k D e c 19 83 Jan 15 7 4 k May 8 5 4 A n g
74
74 k
7 1 k 73
7 4 k 75 >4
72 4 73
1st p r e l ................
7 4 k 75 k
3,500 6 2 4 A p r2 7 7 6 k Jan 16 55 4 Jan 7 8 k A t*g
65 4 66
6 3 k 65
6 2 k 63 4 *62 4 63 4
6 4 k 65
D o 2<1 p r e i...................
*65
....
*65
*65
75
*05
75
70
*65
70
68 D e c 4 7 6 J a n 2 63 J ’ ly 75 A c g
E v an sv. A T e r r e H a u te ..
*85
*85
95
*85
95
*85
95
80 J ’ ly 13 94 A u g 2 85 N ov 96 A n g
95
*85
95
lx> p r a t..........................
180 *4 1 8 5 4 179 4 1 8 1
1 7 8 4 1 8 2 4 173 179 >« 3 17 2 1 7 5 4 G re a t N o rth e r n , p r e t , ___ 13,500 e l7 8 Dec2t> 348 F eb 9 236 Jan 335 A p r
83
80
814
8 0 4 82
76k 80k
8 J k 82 k
T e m p c tfs fo r ore p r o p . 54,86( 7 0 k D ec 19 85 D e c 6
8 1 4 N ov23 92 4 Jan 22 83 F eb 90 J a u
*8 0 .......... *80 .......... *80 ..........
G re e n B a y * W .,d e b . ctt.A
____ _ 15
-.......... 15
1 4 4 14 4
I l k O ct 26 23 4 J a n 19 17 May 24 4 J ’ne
Do
deb. c tf. 1?
500 33 4 J an 19 53 A u g l4
*45
47
46
H
a
*45 ___
47
46
4
46 4 4 6 4 * 4 6 4 47
15 A p r 3 8 4 D ec
*45
avan a E l e c t r ic .............
100 7 7 k J an 15 9 7 k M ay 8 50 J ’ ne 82 D ec
86
*80
*85
86
86
85 k 85 k *85
86
*85
86
*83
D o p r e f ..........................
115
126
115 126
1 1 3 4 F eb b 135 A p r 2 4 8 6 k Jan 1 2 1 4 D e c
115 126
126
■............. 126
.1 2 6
H o c k in g V a l l e y .................
'* 3 0 0 92 4 N o v l t 9 9 k 1’ ne 1 90 Jan 97 k N o v
93
914 914
914 914 *J14 924
' ......... 93
93
93
D o p r e f..........................
30(i 164 May 2 184 4 J ’ ne 7 1 5 2 k Jan 183 Sep
169 169
16 5 4 1654
'1 6 5
1 6 9 k 165 169 4 '1 6 5 169
llin o is C e n tr a l.................
169 169
12,527
33 k J ’ne27 5 5 k M aylO
37
35
4
3
6
4
3
6
4
3
5
k
3
6
k
35
k
2
6
4
36*4
3
6
k
n
te
r
b
o
r
o
-M
e
tr
o
p
o
Iita
n
.
3 6 4 3 6 7&
3,650 7 0 k J ’ly 3 8 7 k M aylO
73
73*4
73
73 >4
74
73
73
74 k
D o p r o f ...........................
73 4 7 3 k
74
74
1,20W 24 J ’ly 12 34 *4 Jan 12 24 May 32 F e b
29
*28
27
27 4
25
26 I o w a C e n tr a l......................
26 4 27
28
28
28
28
800 43 J ’ly 17 6 3 k Jan 13 50 May 61 D eo
60
50
50
60
47
4 8 4 *47
*49
5 0 4 *19
60
50
D o p r o f ..........................
200 77 O ct 22 84 ^ F eb 7 8 1 k J ’ne 87 O ct
80
80
*73
804
79k 79k
C .F t-S .A M .-tr . c ts . pfd
* 7 9 k 8 0 4 * T 9 k 80 4 * 7 9 k 8 0 4
1,300 22 k J ’ly 3 3 7 k J a n 5 22 4 May 3 6 k D e c
*28 4 30
294
29
29
29
30
29 4 2 9 k *28
2^4 284
an sas C ity S o u th e r n ..
2,000 4 9 J ’ly 12 71 J a n 5 52 Jaii 70 F e b
60 4 60 k
61
59 4 60
60 k 6 1 k
60 4 60*,
61k
60 k 6 0 k
D o p i e f ..........................
100 27 4 J ’ly 3 4 4 7s J a n 12 2 8 4 J ’ ne 47 4 D e c
*27
33
*28
83
*27
33
33
33
*28
2 8 4 2 8 4 *23
a k e E r ie & W e s t e r n ...
75 Sep 25 J92 4 Jan - 5 91 J ’ ne 106 M ar
'7 0
80
*70
80
*70
80
*70
80
*70
80
*7 0
80
D o p r e f..........................
" 2 0 6 6 1 4 O ct 27 8 1 k J a n 16 5 0 4 May 7 3 k N o v
*63
*62
68
*62
68
62
02
68
63
63
•63
68
L o n g I s la n d ..........................
143 1 4 3 k 143 1 4 1 4 1 4 2 k 1 4 3 k 142 143
1 4 1 k 1 4 2 4 140 142 k LouiK Tille A N a s h v ille ... 15,921 136 4 M ay 2 I 0 6 4 Ja n 19 r l3 4 4 Jau 1 5 7 k « e p
1,222 140 Sep 25 162 Jan 26 161 May- 175 F e b
142 145
142 143
J142 142
142 4 14 i
143 143
r 1 4 2 k 143
an h atta n E le v a t e d ...
100 103 J ’ly 12 127 Jan 16 114 May 133 A u g
105
110
'1 0 5 4 1 1 0
105 4 110
1054107
*105 110
105 4 1 1 0
etropoM tan S tr e e t___
25 k 26
2 6 k 26k
25k 2 6 4
24 4 2 5 k M e x ica n C e n tr a l................. 10,400 18 k M ay 2 2 9 4 D e c 15 1 8 k May 26 M a r
26k 264
2 5 k 26k
57 4 5 7 4
800 5 8 4 D e c 31 84*4 J a n 11 56 4 Jan 8 4 k O ct
*57
63
*67
69
58
69
*57
60
6 7 4 6 7 4 M in n e a p o lis <fe St. L o u is .
600 90 A p r 27 1 00 k Jan 3 86 Jan 106 O ct
87
87
89
89
88
88
*87
93
*S7
90
D o p r e f................. .........
89 4 8 9 4
7,700 134 D ec 31 164 M ar24 8 9 4 Jan 145 D e c
134 134
1 3 0 4 1 3 1 4 130 130V, 127 128 M in n. S. P . * S. S. M arie.
1 3 0 k 134
133 4 135
200 163 4 A p r 30 18334 J an n 148 Jan 173 D eo
159 159
'1 6 5 163
*165 160
160*4 1 6 0 k 155 165
*1 5 8 165
D o p r e f........ .................
39
404
40 4 4 0 k
40
40 k
33 4 3 9 4
3 5 k 3 9 k M o. K an sas & T e x a s ........ 32,200 29 M ay 2 43 sg N ov27
24 May 1 3 9 4 N o v
394 40k
3,100 6 4 k A,pr27 76 N o v 2 0 5 6 k Mav 73 A u g
704 714
71 4 7 2 4 *70k 72k
70k 70k
7 0 k 70k
D o p r e f..........................
72k 72k
8 6 4 89
8 6 4 88 M is s o u ri P a c ific ................. 20,900 85 4 May 2 10634 J a n *20; 9 4 4 May 110 k M ar
8 8 k 90
8 6 k 88 k
88 k 9 0 ‘s
8 8 k 89*4
133 M ay 3 149 4 Ja n 12 137 Jan 158 A p r
142 146
142 145
142 145
140 145
140 145
* 1 4 0 145
ash. Chatt. & St. Louii
i ‘, 3 o " 36 A p r 27 6 9 k D e c o 3 3 4 May 45 Jan
5 9 4 • 5 7 k 69
5 8 k 59 k
5 8 k 5 8 k * 5 8 k 5 9 k *57
a t.o f M e x , n o n -c u m .p t
59 k 59 4
300 1 8 k J ’nelO •<0 D e c l! 1 7 k J ’ ne 2 4 4 Jan
*V6 ., 29
* 2 6 k 28
26k 26 4 *25k 2 6 4
*26 4 29
D o 2d p r e f ....................
*26 4 29
1 2 9 k 1 31 k 129 4 130 4 128 Hi 130 4 N .Y . C e n t r a l * H u d s o n .. 42,36o 126 N o v i2 156*4 Jan 8. 13 6 k May 167*4 M a r
132 4133*4 1 3 0 4 1 3 3 4 1 3 0 k 132
300
*69
62
61
61
9 M ar 5 73 4 A p r 17j 42 Jan 76 4 D ec
*69
62
i,<#
61
61
N . Y . C h ic. & St. L o u is ...
6 I k 6 Lk *58
100 111 A p r l 4 1 2 0 4 Jan 27 114 J ’ ly 122 4 J a n
110 110
110 120
110 120
*110 120
*112 120 *110 120
D o 1st p r e f ...................
3U0 80 M ay 3 92 D e c 4 1 74 May 95 D e c
*85
*85
90
86
8 6 4 * 8 6 4 89
*86
90
*85
91
91
D o 2 d p r e f ........ .........
260 1?9 4 D e c 2-i 204 k Jan 19 5191k D ec $216 Seu
180 185
185 185
* 1 8 8 4 1 9 1 4 187 1 9 1 4 187 {lS 7k 178 190
N . Y . N . H a ve n * H a r tf.
8,730 43 k M ay 2 57*^ J a n 27 4 0 k Jan 64 M a r
46
45
45k
45
45 »4 N . Y. O n ta rio & W e s te rn .
46
46 k 46 4
45k 46k
46k
46k
7,900
81
F e b 28 97 k O ct 2 76 May- 8 8 4 M ar
893
9u
90>,
89
k
8
9
k
8
1
4
8
3
k
90k
8 8 4 8 9 4 N o rfo lk <fc W e s t e r n ............
9O k 9 0 k
200 89 4 A p r 12 96 J a n 6 9 1 4 F e b 96 A u g
‘ 89
*89
93
89
89
*83
90
*884 90k
8 ‘J
89
D o a d ju s tm e n t p re f.
90 4
1 5 7 k 1 6 1 4 1 5 7 k 1 5 9 4 157*2 160
1 59 160
158 1 6 0 k x l 5 0 k 157 4 N o rth e rn P a c ific ............... 01,>50 179 k M ay 2 2 3 2 4 F e b l4 j 165 A p r 2 1 6 4 Aug, 20
20*4
l J k 21
1 » 4 20
D o r ig h t s ...................... 49,190
300 1 0 3 " J a n 10 142 J ’n e 5 78 k J*an 109 4 Oct*
120 125 X 1 2 1 4 1 2 1 4 1 2 0 * ' 1 2 5 " m " i :i l 4 *120 125
•*115 125
p a c i f i c C o a st C o ...... ........
*98 106
105 J a n 5 106 J a n 29 100 Jan 108 F eb
*98 106
*93 106
•98 106
*98
106
'9 8
106
L D o 1st p r e f............... .
115 126
105 4 J a n 10 135 M ay 81 85 Jan 109 O ct
11 0 125
118 125
*115 125
'1 10 125
D o 2d p r e f...................
118 126
1 3 6 k 136*4 135os 1 3 6 7( 135s8 1 3 6 4 1 3 4 k 1 3 6 4 135 135
147 4 Jan 23 1 3 1 4 May 148 A u g
134 1 3 5 k P e n n s y lv a n ia ....................... 234,749 122 4 J ’ ly
43
*34
40
*34
40
33 A p r2 8 4 6 4 Jan io: 27 Jan 48*4 A p r
*33
43
*33
40
>34
40 P e o r ia <fc E a ste rn ...............
* * il6 75 M ay
8 1 4 *77
87 Jan 24 70 Mav 1 8 7 k M ar
f *77
8 1 4 *77
8 1 4 *77 4 8 1 4 * 7 7 4 8 1 4
■3
73
Pit tab. C ln. C h ic. <fc St. L.
100 M ay 4 109 A u g in l 105 F eb 112 .Mar
100 103
100 108
* 1 0 0 108
100 108 *100 108
'1 0 0 108
Do p r e f...............
1 3 2 4 1 3 4 k 129 1 8 3 k R e a d i n g .............................. O'j'.OOO 112 M ay 2 i l 6 4 Jan 23 » 7 9 Jan 14334 N ot
1 3 6 k 1 3 8 k 1 3 5 k 1 3 8 4 x l3 3 i4 1 3 6 k 131*4136
400 89 Sep 2fc 96 Jan 22 90 May 97 Sep
90
90
91
*88
894
*8 8
91
89ag 8 9 k *88
8 9 4 9 1 4 lv > le r tp r e f...........................
*90
96
*1*0
400 90 A p r 30 102 J a n 20 84 Jan 101 N o v
90
92
95
•92
95
93
93
9 0 4 93
2d p r e f ............................
27
288b 29
27k
26k 28k
28k 29k
2 8 k - 29k
26
27 4 R o ck Inland C o m p a n y .... 06,300 2 2 4 j ’ly 13 3 2 k N ov3 0 2 l 34 D ec 37 k J a n
63
6,0iX» 60 J ’ ly 2 6 J34 A u g 2 0 60 4 N o v 85 J a n
62
62
61
60
614
60 4 6 1 k
D o p r e f........ .
02
62
62 4 63
70
297 6 0 F e b 26 7234 A p r 3 67 D e c S l k M ar
67
69
*68
6 9 4 *69
6 9 k 69k $694 69k
69
69
St. L . A S . ’F r., 1st p r e f . . . .
47
1,700 4 0 4 J ’ ly 17 5 1 k F e b 6 45 D e c 73 4 M a r
47
45
4 5 k 46
46 4 46 4
47
474 474
444 464
D o 2d p r e f .......... .
241, 26
2,600 2 0 4 May 2 27 k Jan 19 20 May 2 7 4 J a n
23 4 2 3 k
*24
25
24 4 2 4 k
23 4 23 4 St. L o u is S o u th w e s te r n ..
2 3 k 244
6 8 >4
67
5 S k *67
58
58
3,300 4 3 k M ay 2 6 3 k Sep 10 55 N o v 66-k A p r
68
P9
60 4
69
D o p r e f . . . . . . . ...........
*58
59
95
9 4 4 96
94k 95k
9 3 4 9 5 4 S o u th e rn P a c ific C o ......... 319,230 61 M ay 2 97 4 Sep 21 6 7 k May 7 2 k F e b
. 93
95 k
9 4 k <16 k
96k
118 1 1 8 k 1 1 7 4 U 8
1,795 ] 16 J ’ ly 2 120 4 J ’ ne 6 11 5 k Jan 1 2 2 k D e e
1 1 7 k 1 17k '1 1 7 4 1 1 7 k
117 k 118
D o p m f . . . . . . . . . ...........
*118 1 1 8 ,
28
29
314 81k
28
29 4*S o u th e rn r .t r . cts. stm ped 13^,600 3 l k N ov 12 4 2 k Jan 26 28 May; 38 s e p
3 1 4 32 4
28k 314
31*4 3 1 k
D0s4 91
7,485 U 34 D e c 15 103 Jan 16 95 A p r 1 0 2 4 Sep
85
864
91
86
88
D o p re f.
do
9 l4
85
91
91k 914
7,000 2 8 M ay 2 4 0 4 O ct 2 2 9 34 A p r 41 M a r
34
314
354 36k
33 4 3 4 k 'T e ix a * <fc P a cific . . . . ___
3 5 4 36 k
3 4 4 35k
3 5 k 35 k
-120 124
121 N o v i 9 r l3 9 4 Jan 17 120 D ec 141 D ec
120 123
'1 2 1 122
-L h m t A v e n u e (IT. Y . ) . . .
•122 124 *120 124
>121* 123
" 4 0 "1 2 5 k D e c 12 36 Jan 22 2 2 k *Jau 37 k A p r
* 2 8 k 29
28
28 4 T o le d o R o il w a r s A L ig h t
*28*4 29
28 4 2 8 k
*28
29
2 8 k 29
913 2 5 k J’ ly 2 40 4 Jan 19 3 4 4 May 4 3 k A.pr
32k
3 1 k 3 1 4 T oL 8 C L . A W . v . tr. c t fs
3 1 4 31k
32 4 3 3 4
3 2 k 32*4
33
33k
1,755 43 J ’ ly 1 S' 69 k J a n 19 5 1 k Jan 05 A p r
62
62 k
6 1 4 614|
D o pnrf. TPt. tr. otfn .
614 514
524 624
62k 524
514 614
1 0 6 V ICO?,.
101 S 101 "s.
130 131
119 119 k
* 9 3 k 91 H
8 0 k 814
*115 128
*130 .........
*80
88
1 9 0 k 191\
*04
644
*215 220
54
644
*25
27
• ......... 70
17
17^
*77
79
*69 4 73
254 254
1 5 4 k 156 k
165 165
3 4 k 34 k
201. 203
*225 235
*165 X70
*170 180
*9
12
*22
28
*5 >*» 5 k
1 8 4 184
*9 0
91
*1 0 9 111
38
383a
69
*68
67
57k
219 2 2 0 4
*5 0 0 5;i5
39 k 40
*81 >8 8 3 4
*79
80
*18
li**4
36
36
42 4 42»,
* 7 4 k 76 4
*65
66
*65
75
*85
95
1834184
8 1 4 82k

106 1 0 7 k
100k 101k
130 1 3 0 k
1 1 9 k 120
• 9 : 4 94V>
8 0 34 82
■115 128
*! 30
*80 " 8 8 “
1 8 9 k 192 4
64 4 6 j 4
'2 1 5 220
53 4 5 4 k
26
26

‘Too

D

H
I

K
L

M

N

BANKS AND TRUST COMPANIES—BROKERS’ QUOTATIONS
A sk
B id A f k
B id A t k
B id
Banks
Bunks
Banks
B id A i k
B id
A *k
Banka
Banks
C h e m ic a l. . . . 4100 4200 F ifth ............... 340
M e tro p o li’ ni; 160
170
P a c i f ic ^ ........ 230 250
I n t e r b o r o fl .. 160 165
NEW YORK
..... I r v t n g N .K x . 160
C itize n s' Ctrl 145
P a r k ............... 460 480
M t M orrisT!.. 240
155
F ir s t ........ ...... 710
210
P eop le's',____ 300
A e t n a .........
C i t y ............... 2*5
270
M u tu a l}!........ 300 32S
...»
J e ffe r s o n ll... 200 510
14thS treetH . 226
2 0 7 4 270
P lie n ix . . . . . . 160 130
A m e r ic a 1 |. . ' 525 535
Coal * I r o n . 250 260
L ib e r ty ____ 600
N assani) ___ 19.5 200
F o u r t h .......... 205 212
220
P la z a l!____ _ 560 580
375
A m e r E x ch .I 215
C
olonial
D
.
.
.
700
365
L
in
c
o
ln
_____
POO
N e w A m s te r 200
255
G a lla t in ____
315
A s t o r ............. 650 750
C olu m bia .. 490
600
525
P rod E x sh U . 170 175
N e w Y o r k Co 1200
M an h a ttan ^. 305
G a r fie ld ........
275
B a tte r y P ark 120 130
C o m m e r c e ... flS3
326
158
1 184 G erm an Amti 150
R iv e rsid e ^ .. 250 280
M a rk e t & Ful 266
N e w Y o r k . . . 315
255
B o w e r y U ___ 320 330
500
C on solidated 165
175
375
N ig h t <fe D ay
M e c h a n ic s ’ . 245
G erm an K x f 435
180
B u tc h ’ s & Dr 170
305
C’ rnExehlJ
315
S e co n d . . . . . . 700
M e ch * Trail 170
19th W ardll. 350
Germ ania* .. 500
C e n tu ry U___ 175
-275
160
D is c o u n t^ . . . 150
S ta te*}............ t 325
2 Ho 295
*
N o rth A m e r . 235
M e r c a n t ile .. 2l>0 275
G re e n w ic h
185
C h ase . . . ___ 6 -2 5
160
M e rch E x c h . 175
E ast R i v e r .. 150
34th S t r e e t .. 207 4
N o r t h e r n ___ 170
Ham ilton*] . . 260
C hatham . . . . 310
170
275
...... H a n o v e r ........ 501 515
12th W ardU . 400
F idelity^ . . . . 200
M e rch a n ts ’ .. 160
OrientaJH. . . . 270
C h elsea ICicv 195
M etro p o lis 1). 390
23d W a r d l!.. 190
....... Fifth A v e i l.. 3900 4200 Im p & T rad 550
* B id and ask ed p rices; n o sales w e re m ade on th is day. 4 L ess than 100 shares, t K x-righ ts. 1 S tate banks, a E x -dividen d and r ig h ts, b N e w sto c k .
t Sale at S tock E x c h a n g e o r at a u ctio n th is w eek .
e E x b e n e ficia l Interest- in ore p ro p e rtie s.
. 1st in s ta lm ’ t paid, n Sold at p r iv a te sale at th is p rice.
Banks

B id

A sk




m

___

__

_
.....

----

144

iNew York Stock Record— Concluded—Page 2

S T O C K S — H I G H E S T AJVD L O W E S T S A L i . P R I C E S
Jlo n d a u
J a n J4

Sa trtrday
J a n 12
*105

*290 300
16
16
*42
43 %
1 19 3, 120*8
*24
25
*8 7 102
*21 "s ‘-22
*
85
44 V 44 4,
103 103
'3 0 *4 31V
*88
91
*2 3 7 245

8

8

*6
6*2
* 2 8 % 31
87
87
*17*9 19
*35
35%
74
74*4
•109% 111
*3%
<
*24
27
*22
30
*65
65
*82*2 93*4
151% 162%
* 1 1 5 34 l l o lj
*1 9 0 240
*90 100
10=8 1 0 V
46
46
134% 134V
* 1 2 8 133
*131 135
*964 , 98
*3453 38
*100 103
284 285V
* 1 1 0 120
*14% 15V
*51
52*2
*36
36
®1 0 0 % 1 0 i%
55=8 56*4
*85
95
27
27
•137% 138%
23V 24V

86

72V

86 %

73%
80
170
97%
157
18%
81
59

*
*1 6 0
*96%
1563s
*17%
*80
*5 0 V
40
*39
*80
81
67
*6 4
8 3 % 84%
•116 118
*14
15
*8 3
87
* 7 3 % 74%
* 1 0 2 % 102*6
137 % 138%
8 7 % 87%.
38
39
96% 96V
*1 6
17
* 5 7 % 60
55% 55%
* 9 8 % 99%
*1 7 8 % 178%
55*4 55%
* 9 8 % 99
39% 39V
99
9 9*4
75
75
‘ 102 108
*158 160 %
*80
87
48%

48%

*iiT‘ i'15"

*81
86
*26
29
*65
68
*50% 51%
{ 1 0 8 % 109
*78
79%
4 8 V 49*4
106 % 1 0 6 V
37% 37%
*1 0 7 % 10S
*81
85
*275 300
83*8 S3V
150 150
*167 185

W ennesday
J a n 10

T h u rsd a y
J a n 17
104

F r id a y
J a n 18

10634

T w in C ity R apid Tranent.
104 104
D o p r e f ..........................
n io n P a e itic....................
1 7 5 * ' i 7 St's
179*2 i s t v 179 V 181% i'7'8 % i V i v 178% i s o '
*92
93
D o p r e f..........................
*92
93
93% * » 2
93
*9 2 % 93% *92
U n it R y s I n v ’ t o f S an Fran
*55
59
*55
59
59
60
61
til
D o p r e f..........................
67
67
*65
69
*70
72%
68
70
U n ited R y s o f St L on . p ro I
*1 6 % "17% * 1*6 % ’ 1*6*7i
a b a sh ..............................
17V 18
" l 7 V ' 18
1 7V 18
D o p r o f........................
32% 3 l« t
35
36
36 ’4 3 0*4
36% 36*3
33% 33V
W e s te rn M a r y la n d ...........
*26
31
*26
35
*26
35
*26
30
30
30
W h e e l i n g * L a ke E r i e ...
14
14
14
14*4
14% 14 *v
*14
14 *4
14
16
D o 1 s t p r e f...................
33
33
33% 33%
*34
34
32% 33
34% *34
19
20
2 0% 20%
D o 2(1 p r e f ...................
••JO
21
*20
*20
22
24
24% 24
W is c o n s in C e n tr a l.............
*24% 25%
23% 24
25
25
25% 25 “a
D o p r e f ..........................
48% 48%
49
49
4 6% 48
50
50
*5 0 V 53%
I n d u s t r ia l «& iT lisccll
*290 300
dam s E x p r e s s ...............
'290 300
*290 300
*290 300
'2 9 0 300
llis -C lia lm e r s ...............
15
15
16
16
14 % 15
15 % 16 l4
15
16
39% 40%
l)o
p r e f ........................
39% 40%
39
41%
38
39%
39% 42 **
11878 120 % 1 1 8 V 119 V 115 V 11SV 115% 117% 112 115V A m a lg a m a te d C o p p e r ........
23% 24% * 2 3 % ‘25 A m e r A s r i c u lt C h em ical.
24% 25
2a
25
25
25
Do
p r e f ........................
*88 102
*87 102
*87 102
•31 102
*87 102
21
21V A m e r B e e t S u g a r...............
Vil 3 2 2 % *21% 22%
2 1% 21%
21V 21:%
D o p r e f ..........................
*78
82
*
85
' ......... 85
* .......... 85
*
85
413a 45%
44 *s 44 %
4 3 V 44%
4 2 7g 44% A m e rica n Car & F ou n d ry
43% 44V
102 102
: 1 0 l% 102
D o p r e l ....................
l O l V 1 0 1 V *10134 10234 *1 0 1 % 1 0 3
30% 30%
3 0 % 3 0 34
*3034 32
30
30 >2 A m e rica n C o tto n O il........
* 3 0 \ 32
*88
91
*83
91
*88
91
D o p r e f ....................
*88
91
*88
91
240 240 A m e rica n E x p r e s s .............
'2 3 7 245
*237 245
‘ 233 246
*237 247
*8 % 8 %
*8%
8*4
*8 %
8%
8
8's
7V
7% A m e rica n G ra ss T w in e ..
*6
6%
"o
6%
6 *4
6 l4
•6
6%
6%
6*4 A m e r H id e & L e a th e r ___
*28% 29%
29
29
D e p r e f ........................
80
30
*2 8 V 3 i
*28V 3 i
85
86
86
86 A m e rica n I c e S e c u r itie s .
87
87
87
87
*16<4 19 A m e rica n L in s e e d .............
*17
19
*17
19
* 1 7 “ *19
17
17
39
*34
39
*35
35 ‘a 35% *34
*35
38
D o p r e f ..........................
38
74
73
73 V
74
7 2V 73*4
7 1% 72V A m e r ic a n lx ic o m o t iv e .
73 V 74
3110 1 1 0 % 1 1 L 111% 1 1 1 % 1 1 1 % 110 112
110 110
D o p r e f..........................
*3%
4
*3%
4
*3%
4 A m er. M alt. ctfs. o f d e p ...
*3%
4
*3%
4
*24
27
*24
27
*24
27
*24
27
D o pref. ctfs. o f d e p .
*22
28
*22
28
*2 2 ” "*3*6** *22
* 22
30
28 A m e r P n e u m a tic S e r v ic e
*55
65
*65
65
*55
65
*55
65
*55
65
D o p r e f ................... .
93
92
92% *92
92% 92 V
*91
92% *92
92% A m e r S m e lte rs S e c p r e f B
151% 152
1 5 1 % 153
1 4 9 V 1 5 1 V 160 151
147% 150*2 A m e r. S m e lt’ g & R e iin ’ g .
116% 116% 1 1 6 ‘4 116*4 115% 117 V * 115V 1 1634 115% 115%
D o p r e f................... .
*197% 240
190 240 *1 9 ? % 240
205 205
*197% 200
A m e rica n S nu ft...................
*90 100
*95 100
*90 100
*95 100
*95 100
D o p r e f ....................
1U34 1034
10%
10
^
1
0
%
10%
10% 10%
10
10 V A m e rica n S te e l F o u n d r ’ s.
45% 451,
D o p r e f ..........................
45
45 % *45
46
4 6 V 47
46
46V
133% 134
134 1343b 13 3 V 134
132V 133*2 1 3 1 V 133 A m e rica n S u g a r R efin in g
130 132
128 132
D o p r e f .....................
*128 132
•128 133
*128 132
130 135
*130 135
*130 lo 2
*130 132 *125 130 A m er. T e le p li. & T e le g
97
97
A m er. T o b a c . (n o w ), pref.
*97
98
97
97
97
97
97
97
35
35
3 4 V 35
33% 3 4 V
33% 33V
33
33 V A m e r ic a n W o o le n ____
D o p r e f ..........................
3101% 102
101 101% 100 101
*100% 101*2 l o o v 100%
284 286% 283 >4 2 8 4 34 277 284*s 280 282 *2 2 71% 281 % A n a c o n d a C o p p e r ...............
*110 120
110 120
* 1 10 120
p r o o k l y n U n io n G a s ___
♦110 120
111 111
* 1 4 % ......... * 1 4 % ......... *14% 15% *14% 16% *14% 15% D r u n s w . D o c k * C .I m p ’ l
*51
52% *51
62*2 *51
*50
53
*50
52 *2 B u tt e n c k C o ........................
53
36
30%
36
36
le n tra l L e a t h e r .............
35% 35%
35% 35*4
35% 35%
101 101
lO 0% 101*4 101 101
j Do
p r e t ........................
5101 101
101 101
55% 5 6 V
53% 56
62
64% C o lo ra d o F u e l <fc I r o n ___
63% 54V
5 5 V 56
*85
95
*85
90
D o p r e f ..........................
*85
95
*85
90
*85
95
25% 26*4 CoL & H o ck . Coal & Iron.
27
27 V * 2 6 i4 27%
25% 27
25% 26
*137 % 138% 137% 137% 138 138
C on solid ated G as (N . Y .).
137 137% 135
24% 2 4 34
23 V 544 “2
23% 24V
23 V 24
23% 2 4 V C orn P ro d u cts I ie f g .........
D o p r e l..........................
8 6 % 87
*86
87
85
87
85% 8 6 %
85
85%
73%
73
71% 73
72
72%
70% 72V D is tille r s S e o u r it’ s Corp.
73
73V
* .....
80
E le ctric S to ra g e B a tte ry .
*
80
*
80
......... 80
.......... 80
160 170
r160 170
*160 170
160 160
Fed eral A im in g & S m elt’ g
163 163
93% 1141*
D o p r e f ..........................
>93
97
97
97
95
95
95
95
156% 167
157% 158% G en era l E le c t r ic .................
156 156*4 155% 156% 167% 169
17% 1 7 % n tern a tion a l P a p e r........
*17% 18
18% 18 V
17% 18
17 V 18
*80
81
1 8 0 % 80% *80
81
D o p r o f ..........................
*S0
81
*80 *a 81
* 5 0 34 59
60% 5014 In te r n a tio n a l P o w e r ........
*50% 59
53
5 0 V 60V *51
*38
40
I n t e r n a l Steam P u m p ___
*39
40
38
38
*38
40
38
38
81
*80
81
D o p r e i..........................
*79
80
81
*73
81
*80
81
*64
K n ic k e r b o c k e r I c e ( C h ic,
*70
73
*63% 68
67
*63
63
64
64
a tio n a l B is c u it .............
81% 86
85
86%
83
84%
84 % 85 *4
84 V 85 *2
*116 % 118 % >116l4 118 hi *116*4 118% *116*4 118*2 116% H 6 %
D o p r e f..........................
15
15
*14% 15
14
1 4 % N at E n a m e lin g * .S ta m p ’ :.
*14% 15
*14*2 15
*83
89
*83
89
Do
p r e f ........................
*83
89
*83
89
*83
89
70% 7i34 N a tion a l L ea d ......................
*7 3 % 7410
73
73%
70% 73%
71% 72
102 % 102 % 102% 102% 102 % 102 % 102 103
D o p r e l ..........................
* 102 V 103
1 3 7 V 138
135 135 34 134 % 135 V N e w Y o r k A ir B r a k e ........
138*4 138% 135 137
87 % 89
8 7 78 8 0 %
87% 87%
87% 88% N o rth A m e rica n Co., new
87 V
^
a cific M a il........................
39% 4OI3
39
40
37% 38
37% 39 V
37% 38*2
96% 97v.
97
9 7 14
co p . Gas-L.ite C. (O hio.)
96% 97
96
96V
95% 5)6*4
16% 1 6 V
16% 16%
16 % 16*4 P itts b u r g h C oal C o...........
1 6 V 16%
1 6 V 16%
Do
p r e f ........................
*58
60
*56
60
*56
58
* 56
58
256
56
55% 57
52% 54% P ressed S te e l C a r...............
56 % 56*4
54
54V
5 3 V &5V
D o n r e t..........................
99% 99 %i *98% 99*2 *98% 99*2 *98*2 99*2
9 8 V 99
*175 179
175 175
170% 171*8 P n llm a n C om p a n y .............
173 17 5% 171% 172
a il w ay S teel s p r i n g ...
63 “u 55
56
* 5 4 7a 56%
54
54
54
5 4 78
99
* 9 8 % 99
99
*98% 99
98% 98*1 I V D o p r e f..........................
99
99
40
R e p u b lic Ir o n de S t e e l . . .
40
40
40 ij
38
39
3 8% 3 9 V
38 V 39%
D o p r e f..........................
98 7, 993,
99
99
97% 93*2
9 8 V 99 *4
9 a V 99
7 4 34 76
ioss-Sh eilield St.<fc Iron
74% 75
73V 7 3 34
73
73V
73*2 74%
D o p r e f ..........................
*102 108
jlO o
lu o
'1 0 2 109
}1 0 7 107
P en n. C oal, I r o n & R l t . . .
158 160% '1 5 8 160% *158 160*2 n 'b 'ti" 160% '168 162
*80
87
*82
85
85
85
* 8 2 % 8 '-*2 T e x a s P a cific L a nd T ru st
*82% 85
n io n B a g <* P a p e r........
8% 8%
*7*2
8*2
*6V
8%
D o p r e l ..........................
58
5*
*55
00
F ou n.
48% 49
47% 47*2 U. S. C ast I. P ip e
48
49
47 V 48%
48V 48V
D o p r e f ..........................
87 % 88
88 V 89
8 8 V 88% *87% 88*2
87 V 88
U n ited States E x p r e s s ...
110 120
115 115
108 115
*110 120 * 1 0 8 120
U S R e a lty & l in p r o v e ’ m
80
81
*81
86
*81
87
*el
87
*81
86
U S R e d a c tio n <4c R e fln ’ p
*26
28
80
*26
29
27% 27% *26
*26
29
Do
p r e i........................
*63
68
*65
68
*64
63
*65
69
*64% 70
49% 60*4 U nited S ta te s R u b b e r ___
50% 5 o V
51
61
5 0 ’s 60V
50V 51
D o 1st p r e f ...................
106% 106% 104 105
108 109 * 1 0 6 % 107% 106 106
Do
2d p r e f .................
77%
*75
77% "7 5
78% *75
78% 78% *74
79
46 % 48 *4 U n ited S ta tes S te e l...........
49
50
49
49V
48% 4S 7b
48% 4 9 V
D o p r e t ..........................
106 V 107% 1 0 6 % 106V 105V 106% 105 V 106*4 104^4 105%
35% 35% V irg in ia -C a ro lin a C h e m ..
3 5 V 36
37
37 *2 *36*2 37%
35 % 37
D o p r e f ..........................
106 108
107 108
107 108
107 108
*106 108
V ir g in ia Ir o n C o a l * C ..
89
91
83% 84
88
9 0 34
84
84V
84% 88
\\/ ells F a r g o & C o ........
283 283
275 305
280 305
*280 305
275 305
*33% 84
83V 8334 YY e s t’ n U n ion T e le ’ gpli
*83% 84
83 V 83 V
83V 83V
151 % 152% W est’ g h ’ s e E l& M fg a s s e n
149 149V 148V 150
148% 152% 150 150
D o 1st p r e f...................
167 182
167
185
167 1S5
167 185
167 185

107*5 '1 0 6

179*4 180%
*9-2
94
*60
62
* ’, 0
72%
• ......... ..82
Ks
IS S
*„6
37%
*2 6
30
14% 14%
34% s iv
21
►19
25% 25%
*5 0 % 53

T u estlay
J a n 15

STOCKS
N E W Y O R K STOCK
EXCHANGE

108%

107

108

106 >4 106V

U

W

[V o l.

l x x x iv

.

I >a/.esv' Jian’Je ,o r i e a r 1 90 6 \\Ranye tor 1-reoious
| ( h f J 'On o a sis o/lOU-share lo ts i|
Y ear ( l n o o )
| W eek |
;
|
r
“ “
\S h a r e s ;
Lowest
J liy h est
L oicest I lin ^ ie st
! ,9501102 D e c 3 i
. . M -5 0 u c t
56 8 ,SOOj 138% Muy 2
....... . i 9 1 % .May 2
700 5 > A p r 2 :
55 A p r 2 0
84% A p r 19
5,320 18 D e c 29
8 ,5 7 o 36 *2 D e c 29
345 3\> D e c ‘.'4
3,90u 16 A p r 28
840 36 Mity 2
90:1 21 % O ct 3 1
1,6<>7 23 AI ay 2
1,901, 44 J ’ly 2

A

(

i

N

P

S

U

122 ‘4 .Kill 22 11(5 Jau ! 122 A pr
*150 <u-t
. 153V M aj I Oil J ’ no
1 *5 V S e i
'113 Jau 1513, Ut.-c
99 j Jan 2 95 *-_ N o v 1 0 I V im-Ij
98 Jan IS 1 21 *- Jau 92 *•• Dee
93 J an 1 j 64 % •i an 91 C D e o
87 % Jan 13 80 •My 1*5 N ov
17% May 24%
2 6 % J a n 24
I*'e’ i
5 3 V Fab z ! 37 M ». 43
D ec
4 4% i ’ ne 4! ! 27 N ov 30
21
Feb 6 15 Slav 19V .M.ir
Feb
4 8% F eb
36 May 48
29 >2 F eb 6 20 May 2SW> M ar
33 Jau 17; 20 A p r 33% A u g
45 Jan 64% O f l
64 J a n l

J236 Jan i 250 Feb
....... |?240 J ’ n e l4 1300 A u g2
13 May 24*4 Deo
,60'JI 16 J ’ly 3 27 V J au
Feb
46% SI a) 68
,100 41) S ep - 07 J a u 2
Jan 111% D ec
70
118*4
*'
ebl3|
,650 9 2 V J ’ly 13
,200 20 J ’iy 3 34 % J an 2 . ! 20 Jan 29 % vpr
....... 90
l " o 12 102 J a n .5 1 89% Feb 95 A u g
100! 2 0 % M av 2 35 Jan 6 1 23 N ov 35 D eo
........| 82% O ct 1 ' 89% 'a n 8 77 J an 89 D e c
,f.0-J 32% J ’ly 13 47 -2 Jan 24 ! 31 Slay 43 V A p r
700i 9 8 % J ’ iy 13 105 J a u 2-1 l£:' 1 % Jan 104% A i.r
,050 28 M ay 2 41% J a n 11 1 27 V .T’ly 40% D ec
Keb
90 D ec 19 95 J a n 10 : 8 9 *4 J ’lv 97
A u giO 2209% Jan 246 FeS>
100 2 5 A p r 26 272
Jan
4 34 A uk 14
1,200
11 % Jan 15
7 V May
200
5% N ov2
10 J a n 2 0
6 J ’ ue 11V D ec
200 24 N o v i
43 J a n 25 29 % O ct 55% Alar
6 i)0 35% Jan
9 1 % S ep 25 24% J ’ly 36 D e c
Dec
200 l e ^ D e c 2
29% J a n 22 15% Jan 23
3 5 D ec 2
5 3% Jan 20 36 Jan 48% A p r
7 ,i2 5 53% May
78% J a n 4 33 Jan 76% D ec
655 10 -i % D e c 2 120% J a n 16 103V Jan 122% A p r
4 J ’ ne29
5*4 N o t
6 *(, A p r 6
5 D ec
25 Jan
29% A p r 6 24% D e c 26 N ot
25 Sep 1
o 4 V A p r lO
60 A u g
8 s% A p r 12
1 01% Jan 18 '*97% Sep 1 0 2 * N ot
1,000 92% D ec
174 Jan 18 7934 Jau 170 V U ec
7,000 138 % M aj
1,J50 112 D e c 26 130 Jan 12 111% Jan 137 D ec
220 J an 25 163 M ay 250 N ot
100 200 J ’ ly
100 D e c 10 107 J a n 26 99 Jau 110 D e c
9 3s -\ov20 15% J an 17
6% J ’ ly 18V M ar
,300 40 M ay 2 53% J an 17 35% J ’ ne 67 % A p r
,300 127% May 2 157 Jan 8 130 May 164V D ec
1 2 8 % D e c 26 140 J a n 19 133 Slay 141 A u g
130 J ’ly 18 144 V Jau 19 131 D e c 148% Jan
685 96 J ’ ly 3 109 J a n 22 91V Jan 109 V l > c
,900 28 N o v i'-' 48 J a n 6 20 V Jan 47 % N o t
650 101 J ’ly 13 110 V J a n 24 93 Jan 108% Alar
77, ,550 223% M ay 4 300 F e b 13 100% May 295 D ec
D e c *215 F eb
100 105 *2 N ov2t, 178 J an -3 175
10V Jan 22% Deo
13% J ’iy 9 2 1 34 A p r i l
4 o A p r lO 70 M ay 9 50 D e c 60% Jan
,985 3 3 V D e c 24 49 V J a n 24 40 Sep 47% O ct
107% J an 24 102% N o v 105% N ot
,610 9 8 34 D e o
38 May 69 M ar
,100 40 % May 2 83 V J an
85 J ’ ne29 112% Jan 29 80 A u g 105 M ar
3.1 *4 N o v 2 6 11V May 20 D ec
^35*6 17 M ay
,(0 0 1 3 0 V A p r 2 181% J a n 23 175 N ov 214 M ar
,67 u 18% J ’iy 13 28 A p r 4
,708 74 *2 M ay 2 85% A p r 2
,990 51 J a u 30 74 V S ep 2o *34 V Jan *5*4% D ec
___ 8 1 34 J a n 3 87*8 J a n 19 76 May 89 % F eb
2 2 5 1 3 8 J a n 4 199 J a n 22 60 Jan 145 N ov
1 ,0
,—o 0 91- J ’iy 3 1 1 2 V J a n 22 75 Jan 1 1 0 % N ov
l l , 1 0 u *156 D e c 19 184 O ct 9 169 Slay 192 Alar
1 8 % J ’ ne 25*4 D ec
26% Jan 15
2 , 10c 16% Sep 1
50 80 D e c iv 90 J a n 13 76 *« F eb 8 8 * 4 L e e
O ct 100 Feb
z
9
5
J
a
n
29
48
500 48 Sep l i
500 28 J a n 15 60 M ay 8 26 D e c 40% Feb
200 79 J a n 11 92 M ay 14 78% Slay 8 8 % A p r
8 4 % Sep 27 10 Jan 63 D ir
100 54% J ’ly
16,150 62 M ay 2 7 9 % D ec 17 52 A u g 69% Dec
A u g 120V M ar
100 113*2 J a n 5 118% O ct 8 n o
A u g 31 % A p r
18 J a n 15 U
900 12 M ay
82 Sep 1 / 8 8 % M ar 8 80 A u g 94 A p r
____ 66 M ay - 95 s, Jan 19 24% Jan 89 *2 D ec
'o 50 1 0 0 % J ’ ne 7 106% Jan 22 9 7 V Jan 115*2 D eo
600 133 J ’ ly 12 l6334 j a u 5 140 May 168V N ot
3,240 o 7 % N o v i2 107 J a n 12 95 V N o v 107 A p r
7,250 2834 j ’ne*J9 51% J a n 19 33 Slay 53 V Dee
12,700 88 J ’ly i3 103 Jan 2| 97% Slay 115% A p r
May
1,300 13% M ay 2 1 8 % N ov23, 12% J ’ly 21
62% J a n 19 45 % J ’ ly 80% Slay
50 50 J ’ ly
33%
Jan
64
V
J
a
u
24
M
ay
^
5
8
V
D ec
43
7,500
375 95 M ay 2 105 i«'ob 1 87 F e b 101 % O ct
2,977 180 D e c 6 2 iO N o v 9i 230 Slay •258 A u g
__ M ay 2 6 2 v J a n 15] 30 May 63% D e c
2,900 44
400 9 7 V J ’ly 13 107 J a n 24 93 Jan 106 N ot
9.30, 22% May 2 41V L>»<3 11 15 Jan 36 % Dec
3,000 91 M ay 2 1 1 0 *2 Jan y 67 Jan I 08 D ee
3.700 68% J ’ ly 13 97% Ja n 12' 60 Jan 118% Feb60 1 0 1 *, O ct 18 113 A p r 3 100 Jan 130 F eb
129 J a n 2 $166 N o y 3 o 68 Jan 148 D ec
**20*0: 60 M ay 2 88 O ct 23 37% Jan 66 D ec
5 % Sep 7 15*4 J a n 19
83* J’ne 15% O ct
2 0 1'
Tan 82 V D eo
200 52 O ct 15 84 Jan 18 68
2.700 4 3 % M ay 2 o3 Jan 17 19 V Jan 48% D ec
800 83*4 D e c 26 96% J a n 24 79% Jan 9734 A p r
400 109 M ay 1 138% Jan 26 }1 1 0 D ec 134 F eb
300 75 A u g l8 94*.j J a n 20 77 Jan 9 8 % Alar
201 24 M ar 1 40 V J ’ n e 5 18 F e b 4 0 * 4 A p r
60 M ar22 84 j 'n e 6 35 Jan 73% A u g
J ’ly 13 69 % o c t 2 3 3 V Jan 0 8 % s e p
6,200
,165 ilO lJj J ’ly 13 z l l 5 J a n 16 9 3 V Jan 118% A p r
9*11
250 75 M ay 2 z 8 7 *2 Jan 15 75 N ov 8 3 34 D ec
440 32 V J ’ly 13 50% O ct 12 24 V Slay 4 3 * 4 D ec
190 9 8 V J ’ly 3 113% J a n 20 9 0 V HnJ 107 D e c
,950 31 JT’l
’ly
y 3 58 J a n 2 2 8 V Sep 08 V D ec
......... 104
J ’l y 3 1 1 7 % J a n 2 103% May 118 V D ec
,700 38 M ay 2 93 D e c 5 36 J ’ne 6 2 % F eb
100 233 M ar23 306 O ct 26| 5226% D eo 260 F e b
135 x83% D ec 24 9 1 % .I an 2 6 | 92 Jan 9o % j ’ ne
,000 148 A u g 3 0 176 J a n 6 152 Slay 134 A p r
A pt
2 0 0 162 N o v 16 1 «8 J a u 22 ' 1 8 7 % D eo 197

.....

BANKS AND TRUST COMPANIES—BROKERS’ QUOTATIONS
Banka
U n io n E x c h ’ :
U S E x clta ’ e*.
W a s h -H ’ hts*
W e s t S id e lj..
Y o r k y ille li..

B id A s k
245 255
115
130
225
600
400

BROOKLYN
B o r o u g h ^ ___ 160
B ruadw ayU .. 416
B r ook ly n ^ . . 135

145*

Banks

R id

BROOKLYN
F irst...............
H om e Bankli
M au u factrs’ .
.M ech a n ics!].
N a t C ity ........
N o rth S idell.
P rosp ectP k T
T e r m in a l___
Union1|.........

390
160
400
300
250
290
390
150
140
225

A sk 1 T r u s t C os.
1 X. Y. CITY
! B a n k ers’ T r .
B o w i’ frGreen
B road w ay Tr.
C a r n e g ie . ..
C en tral T r ’ st
C o lo n ia l........
310
165
230

B id

650
440
157
19S
2025
400
235
C o m m e r c ia l. 205
C o m m o n w ’ th ...
E m p ir e ......... 310
E q u ita b le T r 425
Farm Lo & T i 1320

t B id aad ask ed p rice s; n o sales ou this day. 1 L e s s than 100 shares,
♦Sals at tttook E x ch a n g e o r at a u ctio n th is w e e k o E x s to c k d iv id e n d ,




A sk \ T ru st C o ’s
F ifth A v e T r
F u lt o n ............
G u a ra n ty T r
150
G u ard ian T r
162
H u d s o n ........
205
<!100 K n i c k ’ r b ’ k ’ r
Law T I & T r
410
L in c o ln T r ...
M a n h a tta n ..
A le r c a u t ile ..
145
M stro p o lita n
320
M o rto u T ru st
450
M
u t u a l .........
1340

?.eo

B id

A sk
555
330
515
235
____ 105
1200 ......
f 275 ......
t395%
470 490
____ 350
5S5
700
120
130

310
485
225

T ru st C o’s
M u l A llia n c e
N Y L ite & X r
N ew Y ork T r
S ta n d a rd T r’ t
T itle G u <fc T r
T r Co of A m .
U n ion T r u s t
U S M tg & T r
U n it S t a t e s .
V a n N ’denT r
W a s h in g to n .
W in d s o r ........

B id
210
1000
736
400
570
790
1325
14 / 5
1275
305
400
200

ASK

220

T ru st C o ’s
b r o o k i .tn

A sk

R id

440
150
270
F r a n k li n ___ 320
H
a
m
ilto
n
___
310
330
1350 H o m e .............
J e n k i n s ........ 200
K in g s C o ___ 450
L I si LcSs T r . 315
315
N a s s a u ......... 270
2*1*5 " P e o p le ’ s ........ 325
|vyu liiu n sij'x. 220

460
160
350
350
175

:*50

t E x -rig h ts , b N e w stock,
e E x -d ln d e n d and rights.
s T r u s t Co. cerU d cates. *J B a n t s mArke*l w ith a paragrap h (U) a r « S t a u ban k s.

New York Stock Exchange—Bond Record, Friday, Weekly and Yearly
O C C U P Y IN G
:!

W eek's
R ange or
Last s a le

R ange
year
190 i

Low
H igh
L04 N o v ’ 06
105*4 D e c ’ 06
103*2 A u g ’06
103
103H.
107 J’ n e ’ OV
104*2 O ct ’Oi
100% lO O v
lOil-t J an ’07
130% N '"' ’ 06
129 Hi J a n ’ 07
105 ** O ct ’ 00
111 M ay’ 06

how H igh
103*8 105 Hj
103
lO o1,
10234 1 0 3 7g
102 1043i
i 0 0 34 103«4
10.^8 104 'f,
129 131*2
I 2 9 :*8i;:2*4
105*8 105*8
10834 111

A -0
A -O
F-A
J. J
J -J
M-S
Q-J
J -D
n

98*4
t 98*4 Sale
98*4
98**
98
j: 18-4 Sale
93
94
t 9 o j4 Sale
90*8
91%
j 91 Salb
84*)
i 84% Sale
83*s
102"-.
102
♦102*4
t 95 * 4 .......... 98
98
94
93% Sale
9 3 34
hes* a r e p r ices 0 n the I

204 96*2 101*2
185 96 *4 101 *4
323 90 Ha 95*8
495 89*3 93=8
158 82
88
23 101*2 108
15 97=8 101 Hi
46 92% 96
0/ $5 to Ji.

j .j

111 M a r’02
117*2 J ’ n e ’Oti
105 Hi D e c ’ 114
101 J ’l y ’ 06
122 J ’ n e’ 06
120 M a r’ OC
97% 96 34 A u g ‘06
95*2 D e c ’ 04
9 5 1 SJo^ Jan ’ 07
22 22 D e c ’06

-

N . Y . S T O C K E X C H A J fG K
WTIKg E k d ix o J a \ 18

/TICe
frx ta u
J an j 8

Hia
A sk
ti. S tJ o v e r tim e n t
104*4 105*4
U s 2s co n s o l r e g is t e r e d .d l9 3 0
104% 10 5 14
U S 2s c o n s o l c o u p o n ___ t ll9 3 0
102 102*4
U S 3s r e g is t e r e d ' ........... A:1918
1U2% 103*4
U S 3s c o u p o n ...................../ d 9 l 8
U S 3 s re g siuali b o n d s..fc l9 1 b
102*4
U S 3s c o u sm all bon d s..& 1 9 1 8
100 % 101*4
I! S 4s r e g is t e r e d ............. M 9 0 7
100 % l t d *4
U S 4 s o o u u o n ___________ /i.1907
12 * 3* 129 S.
U 3 4 « r e g iste r e d ................1925
129<4 130*2
U S 4s c o u p o n ...................... 1926
U S P a n C a n 10-30 y r 2s.fcl93(> Q-N 103% 1 0 4 %
109*2
P h ilip p in e lslandH 4 8.1914 -34
P u li w k i a t d im p re r 4 s 1 9 3 r
P u b w i 9 an d im p r e g ..-1 9 3 t ;
Poi-eioni I J o v e n m ie n t
-Japanese G o v t 6s s te r l’ g .1 9 1 1
2 d s e rie s 6 s ........................ 1911
£ loan 4*28 c t fs fu ll p d . 1925
2d aeries 4 %s c t fs fu ll paid.
£ loa n 4s c tls lu ll p a id .. 1931
R e p u b o l C u ba 5s e x te n d e b t ..
U S o f M e x ic o s f g 58 or 1X99
G old 4s o f 1 90 4 .................1954
S t a t e S e c u r i t ie s
A laba m a c u r r fu n d 4 s ___ 1920
JDlst o f C olu m bia 3*65s___ 1924
L ou isia n a n ew con sol 4 s . .1914
N o rth C a rolin a con sol 4 s . 1910
6 s............................................ 1919
S o C a rolin a 4 Has 20 -4 0 ........1933
T e n n n e w settlem en t 3 s . . 1913
S m a ll.............................................
V ir g in ia fu n d d e b t 2 - 3 s ... 1991
bs d e fe r re d B r o w n B ro s c tfs .

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

....

99
126

117*2118

101
122

1 01

122
95*4

96:j4

94 Hj 9634
20
23 Ha

l ia ilr o a i'.
a C en t See So fly
A labam
la b a M id l See A t Coast Line
A l b a n y * Susa See D e l * Hun
A lle g h e n y V a lle y Sw iP eim RK
A. 11e g * W e s t See Butt P. & P
A n n A r b o r 1st g 4 s ........../U 99 5
A tcli T & S F e—G eu g 4 s . 1995
R e g is t e r e d ........... ............ 1995
C o n r g 4 s ............................1955
W a r r a n ts f o r 5 0-yr c o n v 4 s ..
A d ju s tm e n t g 4 s ........... /tl9 9 5
R e g is t e r e d .................../il9 9 5
S tam p ed ........................ /il9 9 5
D e b e n tu r e s 4 s S eries E . 1907
S eries F ............ .............. 1908
S eries G ........................... 1909
S eries H ...........................1910
S eries 1 ............................ 1911
S eries K ...........................1913
E a st O kla D iv 1st g 4 s .. 1928
A t l K n o x & N See L & N
A t la n t ic C oa st 1st g 4s./(.1952
C h arles & S a v 1st g 7 s . .1 9 3 6
S a v F & W 1st gold 6 s .. 1934
1 st gold 5 s ...................... 1934
A la H id 1st g u gold 5 s '..1928
B ru n s * W 1st gu g 4 s ..1 9 3 8
L & N c o ll g 4 s . ............. 01952
S il Sp O ca * G g u g 4 8 ..1 9 1 b
A t la n t ic * D a n v See Sou th Ry
A u stin & N W s e e S ou P a cific
a lt & O h io p r io r 1 g 3 %s. 1925
R e g is t e r e d ................. /il9 2 5
G old 4 s ..............................>11948
R e g is t e r e d ...................7il948
P J u n & M D iv 1st k 3*381925
P L K & W V a S ys i e f 4 sl9 4 1
S o u th w D iv 1st g 3>38. . . 1925
R e g is t e r e d ................... A1925
M o n o n R iv 1st g u g 5 s .. 1919
C eu O h io R 1 s t c g 4 % s ..l 9 3 0
P itts C le v * T o l 1st g 6s 1922
P itts & W e st 1st g 4a. ..1 9 1 7
B a t C r e e k & S See M ic h Ceut
B e e c h C reek See K Y C & l i
B e l le y * Car See Illin o is Cent
B k ly u * M on ta n k s e e L o n g 1
B r a n s * W e s t See A t l C o a st L
B u ffa lo X Y & E r ie See E rie
B u lia lo R * P gen g 5 s . . .19 3 7
A l l & W e s t 1st g 4 s g u . .l 9 9 8
C l * M ah 1st iru g 5 s . . ..1 9 4 3
Rocli<& P it t s 1st g 6 s ...1 9 2 1
C on sol 1st g 6 s ............. 1922
B u f f a l o * S o u th w e st See Erie
Butt * Susq 1st ref g 4s.i£1951
Bur C R A M
See C It I * P
ianada S ou th 1st 5a........1908
;2 d 5 s ................................... 1913
R e g i s t e r e d .. . .. ............. 1913
C a rb * S ha w n See 111 Cent
C arolina C en t See Seal) A ir I.
C a rth a ge * A il See N Y C * H
C e d R la F * N
See B C R i i iN
C en B ra n ch U P l s t g 4 s . . . l 9 4 8
C eu B r a n ch R y See M o P a c
C e n t o f G a R R 1st g 5 s ..p l 9 4 5
C on sol g old 5 s ...................1945
R e g is t e r e d .......................1945
1 st p ref in com e g 5 s . .. .p l 9 4 5
2d p r o f in c o m e g 6 s ....f> 1 9 4 5
3d p r e f in com e g 5 s___ 2>1945
C liatt D iv p u r m on g 4 s .1951
M a c * N o r D iv 1st g 6 s . 1946
M id G a * A t l D iv 5 s ___ 1947
M o b ile D iv 1st k 5 s ___ 1946

B

C

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

n
M-S
A-O
J -J

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

J-D
F -A
M-N
M-N
O ct
O ct
Oct
J-D
J-J
J-J
J -J

9 0 3,
90*u 92
l)0S4
102 Sale 101=8 102*8
1 00 % ........ 101*4 1 0 l 34
104*4 Sale 104*« 107%
10434 O ct ’ 06
9 2 -t
‘ 9 2 * : : : : : : 92 >2
95 S ep ’05
92*2
* 8 2 4 ‘ 92% 92
101*4......... 99*8 M ay’05
100 . . . . . 99*4 O ct ’ Ou
100*2 J a n ’ 06
973 4
97** ........ 97 D e c ’ (16
96 ......... 98*2 N'ov’ 04
94 ......... 94 N o v '0 6
95*4 A u g ’ 06

.....

98*4 Sale

98*4

9 8 34

90
99
100 104*2
99*2 103 Hi
100*4 110*4
100s* 108*4
91
9 7 at
*9 1 *' * 9 7 * '
9*834 89W
100*2 100*2
96*2 97
94
94
9 5 34 101*2
97

13278 1 3 2 ’ t.

92*4
92*4
95 J ’ n e’ 06
101*4 102
id
J a n ’07
b9Hj
90
95
95
90
90*2
89 O ct ’ 06
108 *2 J ’ l y ’ 05
109 A p r ’ 06
119*2 -Mar’ 04
96 O ct ’ 06

92*3 97*4
93
95
100*2 105*2
9 9 34 103*2
89*8 92
93*4 9 9 Be
89;’< 93
88*2 89

.... .

92*4

93

102
>a\e
101
*89*},
*95
90
9 0 ‘4
87* b ........I
105 *2.........
1 00 *4 .........
110 ..........

IIS

102

....
____
....

110
12134 124

121

.......

9 l 5„ Sale

118*8 N o v ’ 06
102
102
103 A p r ’ 97
124 A p r ’ 06
12S78 N o v ’ 0<5

116*2119*2
101 *3 101 Hi
124 124
125 7g 128 Hj

94®6

95*3 99*2

1OO’ g Sale 100*8 100%
l o t ' s 105*s 105*4 Jan ’ 07
10 3 *4 ......... 103 N o v ’06

10038 103
103*410834
103 1 0 5 34

91*a 93

94=8

99 Ha 99*2
89
95 *2
95*4 99*2

95

N o v ’ 06

119 ........ 118*4 D e c ’ 06
llO H i Sale 110*2 111
90
113 A p r ’ 06
87
90
90
73
76
77 D e c ’ 06
63
65
65 J a n ’ 07
91
93 J ’ n e ’06
115*2 D e o ’ 05
107*2
115 N o v ’05
107*a
115 *2 A u g ’ 05
109 Hj

90

A-O
J -J
J -J
M-N
F-A
F-A
F-A
F -A
J -J
J -J
J .J

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

105 J a n ’ 07
92 223
89*2
106 O ct ’ 06
101 % 100 O ct ’ 06
i '0 7 " 107*5 108 J a n ’ 07
110 F e b ’ 96
89
90 Ha D e o ’ 06
>•9
91
89 D e c ’ 06
84% 85
84
84
103% N o v ’ 06
101 %
101*2
104 D e c ’ 06
95 J ’ n e’ OO
. 90
93% O ct '06
93
93
93
Sale
81
81*4
79% Sep ’ 06
109 M ar’ 98
91 Ha 96
98 M ay’ 06
105 106
89% Sale
1 0 2 Ha 109

*N o price F rid ay ; latest price this week.




u D u e Ja n

d D ue A p r

95

118*4 121
109 114*2
113 113
89 99
75 93
65
91
93 94*2

M IS C E L L A N E O U S
S t r e e t H a ll w a y
B r o o k ly n R a p T r g 5S........ 1945
1 st r efu n d c o n v g 4 s ___ 2002
B k C it y 1s t c o n 5s.191G .1941
B k CJ C o <fe S con g u g 5a. 1941
B k lyn Un E l 1st g 4 -5 s .l9 5 o
S tam ped aruar 4 -5 s___ 1950
K in g s C o E l 1st g 4 s . ...1 9 4 9
S tam ped gu ar 4 s ......... 1949
N a ss a u E le c g u g 4 s ___ 1951
C on n R y * L 1s t * r e f g 4 % s ’ 51
S tam ped c u a r 4 Has......... 1951
D en C on T r C o 1st g 5 s . ..1 9 3 3
D e t U n ite d 1st c o n g 4% s.1932
H a va n a E le c c o n s o l g 6 s . 1952
In ter-M et. ooll 4 *28............. 1936
I n t e r n .it T r a c c o ll tr 4s . .1 9 4 9
L o u is R y 0 0 1st c o n <r 6 s . . 1930
M a n ila E le c 1 s t * c oll 5 s . 1963

102*2

129 *8......... 1327a J a n ’ 06
11 4 *8 ......... 1 1 2 5s J a n ’04
11 0 *4
l l t ^ N o v ’05
99Hj M a r’ 06
93 ........
89 *2 Sale
89.
89*2
9 4 * 8 ...........
9634 D e o ’ 06

FOUR

PAGES

uhN D S
N . Y. S T O C K E X C H A N G E
W kkk E \ n tx o .Ta v 18
Cen R R & B o f tta co l sr 5s 1937 VI. N
Cen t ot N J g e n ’ l gold 5 s . 1987 J -J
R e g is t e r e d ...................h i 987 <1-3
A m D ock <fc Im p gu 5 s . .1921 J -J
L e & H ud R g e n g u g o s 1920 J - J
Leh & W ilk s B Coal 5 s .. 1912 M-N
Con e x t Kuar 4His___ <yl91ii Q-M
N Y «fe L o n g B r g e n g 4 s 1941 M-S
Cent P a cific See So P a cific Co
Olias & S a v See A t l Coast. L in e
d i e s & O hio g 6s ser A ..f t l 9 0 8 A-O
G old 6 s ................................a l9 1 1 A - 0
1st c o n s o l p 58...................1939 M-N
R e g is te r e d ...................... 1939 .Vl-N
G en eral g old 4 Has............. 1992 M-S
R e g is te r e d ...................... 1992 M-S
C ra ig V a lle y 1st g 5 s ___ 1940 J -J
R & A D iv 1st c o n g 4 s .. 1989 J -J
2d c o n s o l g 4 s .................1989 J -J
W arm S pr V a l 1st g 5 s ..1941 M-S
G re e n b r ie r R y l s t g u g 4 s ’ 40 M-N
C h ic & A l t R R r e f g 3 s . ..1 9 4 9 A-O
R a ilw a y 1st lien 3*33 ...1 9 5 0 J -J
R e g is te r e d ...................... 1950 J - J
C liic B u rl & Q— D en v D 4s 1922 F-A
Illin o is D iv 3*23............... 1949 J -J
R e g is t e r e d ...................... 1949 J -J
G o ld 4 s ............................. 1949 J - J
Io w a D iv s in k fu n d 5 s .. 1919 A-O
S in k in g fu n d 4 s ............. 1919 A-O
N e b r a s k a E x te n sio n 48.1927 M-N
R e g is te r e d ...................... 1927 M-N
S o u th w e ste rn D iv 4 s ___ 1921 M-S
J o in t b on d s See G rea t N orth
D e b e n tu re 5 s .....................1913 M-N
H a n & S t J o s co n s o l 6 a .. 1911 M-S
C h ic & E 111 r e f <fe im p g 4s 1955 J - J
1st s f c u r 6 s .....................1907 J-D
I s t c o n s o l g 6 s...................1934 A-O
G en eral co n s o l 1st 5 s ___ 1937 M-N
R e g is te r e d ...................... 1937 M-N
C h ic & In d C R y 1st 5 s . 1936; J -J
C h i c a g o * E r ie See E rie
C h ic I n & L o u is v r e f 6 s ...1 9 4 7 J - J
R e fu n d in g g o ld 5 s ............1947 J -J
L o u is v N A cfe Ch 1st 6 s .1910 J -J
C h ic M il & S t P term g 5a 1914 J -J
G en era l g 4s se rie s A .. e l9 8 9 J -J
R e g is te r e d .....................«1989
G e n e r a lg 3 Hjs series B .<1989
C h ic & L S u D iv g 5 s ___ 1921 j - j
C h ic <fc M o R iv D iv 5 s . ..1 9 2 6 j - j
C h ic & P a c D iv 6 s ........... 1910 j - j
C h ic & P W 1st g 5 s ........1921 j - j
D a k & G t So g 5 s ............. 1916 J .J
F a r & Sou assu g 6 s ........1924 J-J
H a s t & D D iv 1st 7 s ........1910 J -J
1st 5 s ................................. 1910 J -J
I & D E x te n 1st 7 s ..........1908 J -J
L a C r o s s e * D 1 s t 5a___ 1919 J -J
M in e ra l P o in t D iv 5 s ___ 1910 J -J
So M in n D iv 1st 6 s ..........1910 J -J
S o u th w e s t D iv 1st 6 s ___ 1909 J -J
W is & M in n D iv g o s ___ 1921 J - J
M il & N o 1st M L 6 s . . ..1 9 1 0 J -D
I s t c o n s o l 6 s ...................1913 J-D
C h ic & N o r t liw c o n s 7 s ___ 1915 Q-F
E x te n sio n 4 s ..........1886-1926 F-A
R e g is te r e d ............1886-1926 F-A
G en eral g o ld 3 Has..............1987 M-N
R e g is t e r e d ................... j)1987 Q -F
S in k in g fu n d 6 s ...1 8 7 9 -1 9 2 9 A -O
R e g is te r e d ............1879-1929 A -O
S in k in g fu n d 6 s . ..1 8 7 9 -1 9 2 9 A -O
R e g is te r e d ............1879-1929 A -O
D e b e n tu re 5 s .....................1909 M-N
R e g is te r e d ...................... 1909 M-N
D e b e n tu r e 5 s .....................1921 A-O
R e g is t e r e d ...................... 1921 A-O
S in k in g fu n d d eb 5 s ........1933 M-N
R e g is te r e d ...................... 1933 M-N
D e s M o & M in n 1st 7 s ..19 0 7 F-A
N o rth I llin o is 1st 5 s ___ 1910 M-S
O tt C F * St P a u l 1st 5s 1909 M-S
W in o n a & St P e t 2d 7 s . .1 9 0 7 :.i - n
M il L S & W e st 1st g 6s 1921 M-N
E x t & Im p s fu n d g 5s 1929 F-A
A sh la n d D iv 1st g 6 s .. 1925 M-S
M ic h D iv 1st g 6 s ..........1924 J -J
C o n v e r tib le d eb 5 s ___ 1907 F-A
I n c o m e s .......................... 1911 M-N
C h ic R o c k ].sl <fc P a c 6 s .. .1917 •T-J
R e g is t e r e d ...................... 1917 J -J
G e n e ra l gold 4 s ................. 1988 J -J
R e g is t e r e d ...................... 19S8 J -J
R e fu n d in g g 4 s ............... 1934 A -0
C o ll t r u s t S e n e s H 4s . . 1910 M-N
J 4 a ................................... 1912 M-N
M -i s ...................................1915 M-N
N 4 s ................................... 191 6 M-N
O 4 s .................................... 1917 M-N
P 4 s ................................... 1918 M-N
C h ic R I & P a c R R 4 s . . 2002 M-N
R e g is t e r e d ......................2002 M N
C oll tr u a tg o ld 5a _____ 1913 M-S
B u r Ceil R * N o 1st 5 s . 1906 J-D
C ou 1st <fc c o l tr g 5 s . ..1 9 3 4 A -0
R e g is te r e d ...................1934 A -0
C R I F & N W 1st gu 5 s. 1921 A-O
M & S t L 1st g u g 7 s . .1927 J-D
C h o c O k & G g e n g 5 s .01919 J - J
C o n s o l g o ld 5 s ............... 1952 M-N
K e o k & D ea M 1 s t 5 s ___ 1923 A -O
C h ic s t l. & N O See 111 C en t

P rice
F r id a y
J a n 18

W eek’ s
R ange or
L a st Sale

B id
A sk
107 ........
126 *4 Sale
124 1 2 5 J
l l O H i l l J 'g

L ow
H ig h
108
108
1^6
126*
124*2 J a n ’ 07
110 Hi J a n ’ u?

R ange
Y ea r
100*
Low
106
125%
125 ‘2
111*4

tiiu h
106 Ha
132
131*a
1 13

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

100 >2 101
l o o *2 Salt

100*a
100

100
100

ib’6 " i o S S
99\- 102%

■

103 *8......... 103 D e c ’ 06
105*4 106*4 105 N o v ’Uu
115
115*4
114*4 115
116 J ’n e ’06
104*2 Sale 104*4 104H;
......... 1 0 4 34 104 M ay’ 06
102 Ha......... 112 F e b ’ 06
’ ..........100*4 100*4 100*4
92 Ha......... 97 HaD e c ’ 06
107 ......... 113*4 F e b ’ 05
9 9 34 F e b ’ 06
'7 9 * 4 ........
7 9 34 D e c ’ 06
76H»
76%
75 Ha Sale
80 H, M ay’ 05
lOOHa J a n ’ 07
100 Ha.
91*2 .
91 * ,
91*s
9 0 S ep ’ 06
102 Sale 101% 102*,
110*4 J a n ’ 05
101 .
100% D e c ’ 06
10 l 34
101% l O l 3,
101*4 D e c ’Oo
100 J ’l y ’ 06

101% 106*4
105 llOHa
116 119Hj
1 1 4 14 116*31
103 Hi 109
104 105
112 112
100 103Ha
95
96%
99% 99%
7 8 Ha 82 Hi
76Ha 82
89% io 2 %
91
95%
90
90
101 106*4
"9 9 % 102%
102 107
1 0 1 a4 104%
98 100

102 % ....... 103

Jan ’ 07
108% 109
92 O ct ’ 06
100 7e .
100%
100%
131 .
132 O ct ’ 06
•117*2 117*2 117*2
118*2 F e b ’ 06
115 J ’l y ’ 06

102H; 107
107% 112*<
92
96%
100% 104%
l29Ha 139
116*2120
118*2118%
114*2 118%

126

128 137
1 13*2 114%
105 Hi 108 %
100 108%
106*2 111
104Ha 104%
91% 97

108 7s Sale

.......... 126 J a n ’ 07
111% J a n ’ 07
105 Hi Sei> ’06
104 HaJ a n ’ 07
106
106*2
104*2 O ct ’ 06
91%
92
115*4 O c t ’ 05
112*2 J a n ’ 07
108 A p r ’06
110*2 110*2
110 J ’n e ’ 06
137 *2 J ’ ly ’99
110 O c t ’ 06
106 A u g ’ 04
182*2 A p r ’ 06
1 08 *8........ 111 N o v ’ 06
1 0034
106% A p r ’ 05
104 J a n ’ 07
104% i 0 6
103*a
104
104
108 *«
112 O ct ’ 06
105 D e c ’ 06
115 F e b ’ 06
120 % ........ 121 N o v ’ 06
101 ......... 102 J a n ’ 0
99*2
101 J ’l y ’ 06
98
9 7 34
.......... 98
......... 96Ha 96 N o v ’ 06
111 O ct ’06
114 Ha F e b ’ 06
106 *5, ......... 106 *4 N o v ’ 06
107 *3 J ’ n e ’ 06
i b i % : : : : : : 100*4 101*-.
101 Sep ’ 06
io tT * ;: : : : : : 107 J a n ’ 07
1 0 8 34 J a n ’04
113
114 J a n ’ 07
117 F e b ’ 06
..........114

i o f 'b :::::
1 0 4 3, 106*4
......... 106
..........108
92 Sale
1 0 9 * « .........
I ll
.........
102 7a ...........
llO H i Salt.
105*4 . .
1203<
106=4 108
1 0 0 ‘s .........

.....

_

102
107*2110
..........110*2

109 N o v ’ 06
111 M ay’ OG
105% N o v ’ 06

118*4
108*3
115
110*2

110

113

182Ha 182 Ha
111 113%
104 *2 108%
4 1 103 % 106%
112 115*4
105 10S%
115 115
119 *2 126
101 ^ 105%
101

13

95
96

102
100 %

96
113
114 *2 11 4 ‘2
106 ;>4 109%
107 % 107%
104%
101
101
101
105 % 112*4
111

113
117

101*2 . . . . 105*4 D e c ’ Oi
101 *2 ........ 101% Sep ’ 06
........ 1 0 2 Ha D e c ’ 06
121 Ha......... 1 2 2 Ha D e c ’ 06
1 1 5 % ......... 116 Ht O ct ’ 06
125*2......... 142% F e b ’ 02
123 ........ 128 *2 F e b ’ 06
101 O c t ’ 06
100
109 Sep ’03
1 1 5 % ......... 11834 D e c ’06
11 3 *4 ......... 118% N o v ’ 06
100 % Sale 100% 100*2
10
Sep ’ 06
21 Ha Sale
91*8
91 *2
9 4 % ......... 97 J ’ ly ’ 01
93 *»......... 92 Ha N o v ’06
91 ......... 90*4
90*2
90Ha........ . 93 M ay’ Oi
90 ......... 89 Ha M ay’06
89 Ha......... 90 M ay’ 04
76*4 Sale
70
76% 152
79 D e c ’ Ot
90 Sale
90
90*„
102% M ay’ 06
1 1 7 *2 : : : : : . 117 J a n ’ 07
120*2 M a r’ 03
1 0 7 " : : : : : ; 111 N o v ’ 05

102

112
107*2
110
107*2

117
117

101% 101%
10134 102%
122 *2 126Ha
114% 118
128 Ha128*3
101 101
117% 120%
117 Ha 119 Ha
99 103%
99 102
91*2 97
“ 9 2 % ’ 9 -5%
89%

89Ha

'75*4 "8l’ %
" t « % 93*4
100*4 102 '«
U 0 34 119*4

105 106%
111 111
105% 111%

B O N D S —C o n tin u e d o n N e x t Pag^eS tre e t R a ilw a y
M et S t R y g e n co l t r g 5 s .l9 9 7
R e f g 4 s ............................... 2002
B w a y * 7 t h A v l8 t o g 5 s l9 4 3
C o l & 9 t h A v l s t g u g 6 s . 1993
L e x A v & P F 1st g u g 5s 1993
T h ir d A v e R R c o n g u 4 s 2000
T h ird A v e R y 1st g 5 s . . 1937
M et W 8 E l (C h ic) 1st g 4 s . 1938
M il E l R y & L 3 0-y r g 5 s . 1926
M in n S t R y 1st c o n k 5 s ..1 9 1 9
N O r! R y & L t g e n 4% s ..1 9 3 5
St J o s R y L t H * P 1st g 5s ’ 37
"9 6 Hi St P a u l C ity Cab c o n g t s .1 9 3 7
95% U n d e rg ro u n d o f L o n 5 R ...1 9 0 8
90*4 U n io n E l (C h ic) 1st g 5 s ..19 4 5
84
U n ite d R R s San F r s f 4 s . 1927
U n ited Iiy s St L 1st g 48.1934
100% W C h ic St 4 0 -y r c o n g 5 s .1936

100109
92 100
105 107
100 104
105% 113*4
110 110
88
95
K9
96*4
84% 89%
102 103%
100% 104
98%
9 1 34
79*4
79
93*"

e Due M ay y D u e J ’ ue

ftDue J ’ly

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

J -J
F-A
F-A
J -J
J .J
M-N
J -J
J -D
A -0
A -0
J -J
M-N

A rD ueA ng

1 0 8 % .........
8434
111 112
113% Sale
..........114
8 8 % 89
'1 1 3 114*2

108*a 108%
84 J a n ’07
113 Jan ’ 07
113*8 113**
113% D e c ’ 06
88%
89
114%
114*4
93 HaJ ’ l y ’ 06
109 J ’l y ’ 06
’ ..........I l l
107*2 F e b ’ 06
: : : : : : ” 87% 90 HaSep ’ 06
103*4 O c t ’ 06
107 ........ 110 HaN o v ’ 06
92%
93
93 Sale
100 J a n ’ 07
82% 8 2 % J a n ’ 07
82
86
86 Ha N o v ’ 06
83
99 D e c ’97

.....

o D n eO ct

y D ue S o t

107Ha 117
83
92
110 116%
113 119*3
112 I I 6 H1
90
95Ha
115 % 119
93*2 93H»
109 109
107*2 107%
8 9% 92%
103*4 103*4
1 1 0 *3 1 1 0 %
92
98%
90

88%
t Option S a l*

New York Bond Record— Continued—Page 2

146
BONDS
N . T . STOCK E X C H A N G E
WfTKK E n d ; no J a u 18
C h ic S t L cfc P itts See P en n C<
C lilc S t P M A U con 6 s . ..1 9 3 0 J
C on s 6s red n ced to 3H.-s.193i J-D
Ch S t P A M in n 1st g Us 191-^ M-N
N o r W iscon sin 1 s t 6 a . . .193* J-J
St P A S C ity 1st g (5s...1 9 1 ;: A -0
C h ica g o T e r T r a n s g 4 s . . .1 9 4 ' J -J
C ou pon o i l ...................................
C h i c * W e s t I n d p e n g 6 S 7 l 9 3 '.' O i l
C on sol 50 y ea r 4 s ............. 1952 J . J
C h ic cfc W M ic h A'ee P ere Mart;
C h oc O A G u lf See C R I & P
Clu H * D 2d gold 4 4 * ...3 9 3 '. J.-J
C in D A I la t s u g o s . ..1 9 1 ! VI-N
C F in d <& F t W I s t g u 4s f . ’ j: .VI-N
C in 1 cfc W 1st g u g 4 s . 195; J-J
C I S t L A O See C C C A S t i
Cin S & O See C C C St L
C lear Held cfc M ah See B P. A I
C lev C in C cfc S t L gen g 4s 199;; J -I
C airo D iv 1st gold 4 s ___ 193! J-J
Cin W A M D iv la t g 4 s . 1991 J -J
St L D iv 1st co l tr g 4 a . .1990 J1-N
R e g is te r e d ...................... 19th M-N
Spr A C ol D iv l a t g 4 s . .1941 M-S
W W V a l D iv l s t g 4 a . . . 1941 J -J
C I S t L & C co n s o l 6 s ..l 9 2 i M-N
1st gold 4 s ............. _ ...fc l9 3 i
-P
R e g is t e r e d ............... &1931
-F
C m S A 01 c o n 1st s 5s. .192.'- t . lJ
C C C & I con sol 7 s .........1914 J-D
C on sol sin k fu n d 7 s ___ 1914 J-D
G eneral co n s o l gold 6 s. 1934 J-J
R e g iste r e d ...................1934 J-J
In d B i & W 1st p ret 48.1 9 4 0 A -0
O Ind A W 1st pf 5 s . ..<<193.'- Q-J
P e o A E ast 1st con 4 s . . .1941 A C
In c o m e 4 s ........................ 199< A ,..
Cl L or & W li c o n 1st < 5 8 .1 9 3 :: A-C
C lev A M arietta & <ePenn E l;
C lev & M *hon V al £ r 5 s ...l9 3 i- J-J
C lev <fc P itts See P en n Co
Col M id lan d 1st e 4 s ..........194'".
C olorado A Son 1st g 4 s . ., 1 9 2 : ‘
Coitun cfc G re e n v Ste So R y
Col & B o c k V a l See H o ck V a
C ol A T o l See H o c k V a l
Col C on n A Terra See N A W
Conn A Pas R lv s 1st g 4 a .194::
T'Aak A G t S o See C M A St P
1 D allas A W a c o See M K A 1
D el L a ck cfc W estern 7 a . . .1907 .vr-5
M o rris A E ssex I s t 7 s . . . l 9 l 4 M-N
l s t c o n s o l g a a r 7a........1915 J-D
R e g is te r e d ...................1916 J-D
1st r e f g u e 3 4 s ............200* J-D
N Y L a ck <SfW 1st 0 s . . . 1023 J -J
C on stru ction 5 s ........... 1923 F-A
T erm A im p rov e 4 s ___ 1923 M
S y r B ing cfc N Y 1st 7 s . .1900 A -C
W a rren 1 st r e f g u g 3 4 s . 2000 F-A
Del A H u d 1st Pa D lv 7 s .1917 M-S
R e g is te r e d ...................... 1917 M S
10-yr c o n v d eb 4a........... 1910 J-D
A ll) A Sus c o n v 3 Has........1940 A-O
K ens A Saratoga 1st 7 a .1921 M-N
D el R iv R R B rid ge S e e P a R lt
D en v cfc R G r la t con g 4 s . 1930 J-J
C on sol gold 4 4 s ............... 1930 J-J
Im p ro v e m e n t gold 5 s ..,1 9 2 s J-I)
R io G r W e s t 1 s t g 4 s ....l9 3 !> J - J
H g e a n d col tru st 4 s A .1 9 4 9 A-O
U tah C en t 1st gu g 4s a l9 1 7 A-O
R io G r So g a See R io G r So
D es H o i & F t D See M A S t 1.
D es M A M in n See Ch A N W
Des M ol U n Hy 1st g 5 s . . 1917 M-N
D et A M a ck 1st lien g 4 s . 1995 J-D
G old 4 s ................................. 1995 J-D
D etroit S o r t lie r n —
O hio S ou D iv 1st g 4 s ...1 9 4 1 M-S
D ul A Iron R a n g e 1 st 5 s . . 1937 A-O
R e g is te r e d .......................... 1937 A-C
2d 6 s ..................................... 1910 J -J
D ul S h ort L in e See N o r P a c
D ul S o S h ore A A t l g 5 s . .19.17 J -J
V a s t ot M m n S w S t P M A -M
A v ast T en Va A Ga See So Ry
E lg in J o l <fc K as: 1st e 5 s. 1941 VI-N
E lm C ort & N o See Leh A N Y
E n e 1st e s t so ld 4 s............. 1947 M-N
2d e x t gold 5 s .....................1919 M-S
3d e x t gold 4 4 s ................. 192:-! M-S
4th e x t gold 5 s . . ............... 1920 A O
5th e x t gold 4 s ............. .. .1 9 2 S J-D
1st oobso I gold 7 s ............. 1920 M-S
1st c o n so l g fu n d 7 s ........ 1920 M S
J -J
E rie 1st con g 4s p r io r ..
R e g is te r e d .......................199* > J-J
l » t c o n s o l gen lien g 4 s . . 1990 J-J
R e g is t e r e d ............. ..
199«j J -J
P en n oolt tr g 4 s ............. 1961 F-A
5 0-year c o n v 4s A ..........1953 A-O
Bu tJN Y A E rie 1st 7 s ..1 9 1 6 J-D
B n S & S W gold 6 s ..........I'JO" J -J
C h ic A E rie 1st gold 5 s ..1 9 8 2 M-N
J e ff R R 1st g u g 5 s___ al905‘ A-O
L o n g D o ck c o n so l g 6 s .. 19SI- A -O
Coal A R R 1 st c u r g a 6 s . 1922 M-N
D ock A Im p 1st c a r 6 s . . 1913 J - J
K 7 A G reen L g a it 5s. 1946 i’A-N
N Y Sus A \V 1st r e f 5S.1937 J-J
2d gold 4 ^ .....................1937 F-A
G en eral gold 5 s............. 1940 F-A
T erm in a l 1 st gold 5 s ...1 9 4 3 M-N
R e g is $5,0 0 0 e a c h ...1 9 4 ;: M-N
M id R R of N J 1st g 6S.1910 A-O
W llk * Ka 1st g u g 5 s .l9 4 ^ J-D
E v A In d l s t c o n g u g 6 s . , 1 9 2 6 J -J

T-riee
F r id a y
Jan 18

W eekfs
R an ge or
L a st Sale

R anqe
Y ear
lOur,

Bid
A sk
1 2?7g .........
9 0 34
129 ■a .
12534 .
1 1 9 *4 .

L ow
Hiuti
129*4 Jan ’ O'
93 D e c ’ 03
1 3334 O ct ’ 06
129*4 M a r ’04
1194
119k
99 4 No^ ’ O'
9'J Jan ’ 07
1124
112 *•
9 8 34 D e c ’ 06

Low H io h
1 2 9 4 136

....

991,
1 1 2 4 S a le

104*2 .

101

Sale

98 100
’ .......... 97
94 ........
97 ........
1 0 4 4 ........
99 34
9S34 ........
1 0 8 4 ........
1 1 7 <4

....

....

1314.

1313, 1 3 5 1*
1 1 9 4 124%
9.14 1 0 1 4
98 100 4
114*8
977= 98*4

110

113
107

O c t ’ 0(
A u g ’ C6

.07

112

91

M ar’ 06

91

91

i0 1 4
1014
99*6 J a n ’ i
98 J a n ’ 07
1 0 0 4 D e c ’ 00
97 Jan ’ 07
99*4 F e u ’ 05
98 Sep ’ 06
105 J a n ’04
99 4 D e c ’ Ot;
1 0 1 ' M ay’ O'1
113 4 J ’ n e’ Oi
119 D e c ’ OG

!* 9 4 1 03 4
101 103
112°„ 115
1184122

1314

134

1 0 0 4105*1
99*6 101*8
98 101-,
984103
96
96
96

131H

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

94 ........
7 0 4 Sale
1123j ........

94
94*-.
704
72 V
112*4 J a n ’ 07

1 1 0 1 # .. ..

1 1 6 4 J a n ’ Ov

73
934

75
94

S'5 101
69
80
11241154

74
944

193*2 .

794
964

1 0 4 7S Axrr’ OO
119 4 N o v ’ 06
122 S e p ’ OU
127 J ’ne'05

1 1 9 38 .

1204 .

10478 1 0 7 78
1 19 4 1264
121 127

98
120 ><1 1 2 6 4 121»< Sep '00 . . . .
n i3 »
1 0 8 4 A u g ’ OO
' 0 2 ;t, A u g ’ OO
lO aB gAug’ OO
102 F e b ’ 03
125 4
133 F e b ’ OO
149 A u g’ 01
i o V Sale 105
I 08
112
108 4
no
133 4 D e c ’ 06
133 4
97
_____ 9 7 4 9 7 4
1 0 f2 4 ....... 1 0 2 4 1 0 2 4
10 4 3< 105 4 104a4 104s,
9 3 34 Sale
9 3 34
94
88 D e c ’ 06
.......... 88
97 J a n ’ OV

110
92
92

1 2 1 34 1 2 6 4
1 0 8 4 1 14°>
10-^ 102*9
10141044
133” 1*3*3
106 1 1 2 ’ 105 118
13341334
08
106
105
94*4
864

1014
108
109
100
92

Sep ’ 04
O ct ’ 06
92

094
96*4

......... 8 4 4 £6 O ct ’ 06
1104111*11 1 1 0 4 D e c ’ 06
112 4 F e b ’ OO

86
93*4
109*4 114 4
11241124

95 ..........
9 1 4 92 4

112

111

Sale

112

23 111

1134

1 1 5 4 .......... 1 1 4 4 N ot ’ OO

1144119**

.0 7 4 J a n ’ 06
1 0 9 4 D e c ’ 06
1 0 8 4 A n g ’ cn
110 4 O ct ’ 06
103 F e b ’ 05
.29 4 J a n ’ 07
33 F e b ’ OO
98 4
974
99 4 O ct ’ 06
87
87*,
90 O ct ’ 06
91
P14
9!'*8 102
127 N o v ’05
104*8 F e b ’0 6
117 4
11741
1 0 1 4 N ot ’ 06
129 J ’l y ’ 04
118 S e p ’ 06
l<‘9 * * 0 0 * *06
1 2 1 4 D e c ’<l6
1 1 5 4 D e c ’ 06
1 0 0 4 D e c ’ Oii103 Jan ’07
118 .............
......... O ct ’ 06
104 4 O ct ’ 06
110 O c t ’ 06
116 A p r ’ 06

10741074
10 ' 4 1 1 4 4
107*4 1 0 9 4
11041154

1 0 0 * 8 ............

1 9 9 4 ..........
1 0 5 34

110
99
129

....

.......

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

9 8 4 Sale
87 Sale
.......... 8 7 4
91 Sale
99 Sale
119 .........
9 9 4 .........
117^1184

101
12S

..........
____

107 4 ........
1 0 5 4 ........
I l l 5, 115
103 .........
1 1 4 * 8 _____
10*4 " I I "
103 _____
113 ..........

i ’27**
i3 3
99
994
89
90
’ 0
100*4

i '3 4 4
133
102
10*) 4
93 4
91
98
109**

iu -i'4
116 4
100
129

io 4 « :
122*4
1014
1354

i'0 9 4 i '0 9 4
115
100
102
1154

117 4
103
110
118

104 4 n o "
109 113
116 118

Hrxee
F rid a y
J a n IS

W eek's
R ange or
Last Sale

l x x x iy

15 £

,

ha n ce
Y ear
1906

Hid
•iu
A sk: Low
H igh .Vo j f,ow HitjK
E rie <ft P itts See P enn Co
1 1 4 4 ......... 117 D e c ’ c o
E v a n s cfc T H 1st c o n s 6 s .1921 J - J
.117 118
1st g en era l p’old 5 s ..........1942 A - 0 1 0 5 4 1 0 8 H 1 0 6 4 D e c ’ oo
11064 1094
......... 13 4 A pi 05
. M t V e rn o n 1st s-old 6 s ..192;: A - 0 108
1 1 06 4 ib*6\
•Sail Co B ran ch 1st g o s . 1930 A -0 1 0 1 4 ......... 1 0 6 4 F e b ’ OO
L 'a r g o & So See Ch M cfc St 1’
r lint A P ere M See P ere Mai
Fla C cfc P e n in See Sea A ir L in e
105 M ar’ 95Fort St U D C o 1st 2 4 4 s .l9 4 1 J -J
110
111
110
115
Ft W cfc D en C 1st a: 6 s . . ..1921 J-D 109 111
90 D e c ’ Ot
84
91
Ft W cfc K io G r 1st e 4 S ...1 9 2 S J -J ............ 8 8 '
j ' al H a r <fc S A See So P ac C<.
1C3 Jan ’ O',
103
984101
V7 a l H cfc H o f 1 8 8 2 1 s t 5 s . 191:
G eorg ia A A la See Sea A L ino
Ga Car cfc N o r See Sea A Line
G e o rg ia P a cific See So Ky
G ila V G A N o r See So P a c C<
G o n v A O sw e s a t See N Y Cen;
G rand Rap cfc Ind W e P e n n RK
G ra y ’ s P t T e rm See S t L S \Y
18£ 9 3 3b 1 0 1 %
95 7s Sale
957s r
G t N o r —C B A Q coll tr 4s 1921
964 1014:
964 964
R e g is t e r e d .* .....................1921
G re e n b r ie r R y See Ches A O
1 0 3 4 D e c ’ Oi
1014105 V
......... 1C4
G n lf A S 1 1st ref A t « 5s t>195v
an A S t J o See C B A Q
o n s a to n ic See N Y N H cfc 11
1044110
1 0 4 4 ........ 104 4
1044
H o ck V al l s t c o n s o l g 4 4 s . l 9 9 ; 1 J - J
103 N o v ’ 01,
103 103
R e c is t e r e d .......................... 1999 J - J
9S34 N o v ’ Ot
9 8 4 !!!"
Col A II V 1st e x t 2 :4 s ..1 9 4 S A-O
98 4 1 0 1 4
9 d *a . . . . . 100 D e c ’ Oti
100 1 0 W
C ol & T o l 1st e x 4 s ........195 : F-A
H o u st E A W T e x See So Pac
H o n s t A T e x C e n .S'eeSoPacCi'
10941094
llin o is C en tral l e t g 4 s . .1951 J-J 1 0 7 4 ......... . 0 9 4 Sep ’ 00
1 0 4 4 A u g ’ O'
R e g is te r e d ................. ...1 9 5 1 J -J
10441014
100 J ’n e ’ Ot
994100
1st gold 3 4 s ...................... 1951 J-J ibo’^II"
95 4 J 'ly 'o t
9 5 4 9 5 ’ *R e g is te r e d ...................... 1951 J-J
'9 8
9 9 4 J ’ ne’ t*
E x te n d e d 1st g 3 4 s ........1951 A -0
99 4 1 0 1 4
70 O ct *04
1st gold 3s s te r lin g ..........1951 M-S
103 D e c ’ Oi
C oll Trust gold 4 s l ..........1952 A -0 101 102
101 1 0 7 4
102 O ct ’ 01
R e g is te r e d ...................... 1952 A -0
10 S 4
ioi” ib'64;
L N O cfc T e x gold 4s ...1 9 5 3 M-N 1 0 1 4 1*03*4* 1 0 8 4
100 M ay’Ob
100 100
R e g is te r e d ...................... 1953 M-N
102*4 102»4 102*4
105 105
C airo B rid g e gold 4 s ___ 1950 J -D
89 3i
91
t 9 34 91
L o u isvD ivcfcT e n n g3 4S.1953 J -J
9 1 4 94*4.
123 M ay’ 9!
M id dle D i v r e g S s ............1921 F-A 105
7 8 4 A p r ’OO
7 8 4 "7 9 4
O m aha D iv 1st g 3 s ........1951 F A
76
? 8 34 J a n ’07
SO
824.
St L ou is D ivcfctenn g 3 s .l9 5 J J -J
R e g is te r e d ...................... 1951 J -J
9 3 4 J ’ n e ’ 06
89
91
934 934
G old 3 4 s ........................ 1951 J - J
SO1-. 1 0 1 4 O ct ’9'.
R e g is te r e d ...................1951 J - J • • •
100 N o v ’OO
8 7 34
S p rin g D iv 1st g 3 4 a . ..1 9 5 1 J -J
102 J a n ’ 07
102" iof\
W e ste rn L in es 1st g 4 s .. 1951 F-A 102 4
122 D e c ’ 05
B e lle v <fc Car 1st 6 s........1923 J-I) 117 4
95
90 N o v ’ 9S
C arb cfc S haw 1st g 4 s . ..1 9 3 2 M-S
i’io\ i’2’3 4
C h ic St L A N O g 5 s . . .1951 J-D 119 122 4 1 2 1 4 D e c ’ 06
119*4 M a r’04
R e g is te r e d ...................... l y s i J-D
93*8 M ay’ 04
G old 3 4 s .......................... 1951 J -D
R e g is te r e d ...................1951 J-D
1 0 1 4 A u g ’ 06
10 :4 10 14
M em ph D iv 1st g 4 s . ..1 9 5 1 J-D 100 . . .
9 9 * 4 ......... 103 N o v ’ 04
St L Sou 1st g u g 4 s ___ 1931 M-S
Ind Bl A W e s t See C C C A S t L
105 J a n ’ O',
. 107
lr e s s io s v
In d D e c A W 1st g 5s........ 1935 J -J
1 0 7 4 D e c 02
l s t g u a r g old 5 s .................1935 J -J
9'J O ct ’ 00
9 3 4 ioo
In d 111 cfc l a 1st g 4 s ..........1950 J - J ' 9 5 4 1 0 0
115 120
In t A G rea t N o r 1st g 6 s ..1 9 1 9 M-N 115 1 1 5 4 1 1 5 4 J a n ’ 07
994
99 *v
3 9 4 100
9 8 102 4r,
2d g o ld 5 s ............................1909 M-S
7y
77
80
73
80
3d gold 4 s ............................1921 M-S
103 115
Io w a C en tral 1st gold 5 s ..l9 3 S J-D ......... 1 1 0 4 110 J a n ’ 07
83*4 88
G old 4 s ................................. 1951 M-S . . . . . . 85
85 °b N o v ’ OO
J e d e rs o n R R See E rie
al A & G R See L S cfc M S
an A M ich See T ol & O C
K C F t S cfc M See S t L A S F
K C A M R cfc B See S t L <fc S F
K a n C A P a cifio See M K A T
30 70
75 \r.
72 %ale
714
72
K an C ity S ou 1st g o ld 3 s ..1 9 5 0 A -0
63 O ct ’ 01
R e g is te r e d .......................... 1950 A-O
K e n tu c k y C en t See L cfc N
K eok cfc D es M o See C R IcfcP
K n o x v ille A O hio See So R y
112 4 J a n ’ O';
114 119
ake E ri6 A W 1st g 5s. .1937 J-J 112*4 .
107% J a n ’ 07
J 2d g o ld 5 s ........................ 1941 J -J 1 0 7 4 110*4 113 4
117 J a n ’ 00
117 117
N o rth O hio 1st g u g 5 s ..19 4 5 A-O 108 4 .
L Sho A M ic h S See N Y Cent
1074 Jan ’0
109 1 1 1 4
Leh V a i N Y 1 st g u g 4 4 s . 1940 J -J 107*4 .
1 1 2 4 N o v ’ 05
R e g is te r e d .......................... 1940 J - J
95 O ct ’ 06
I^ehigh V al (P a ) co n s g 4 s . 2003 M-N
9 5 " ‘ *984
116 O c t ’ Oi
Leh V T e r R y 1st g u g 5 s . 1941 A-O i r f ‘ !
116 1 2 0 4
109 4 O ct ’ 9i
R e g is te r e d .......................... 1941 A-O
L eh V Coal C o 1 st gu s 5 s .l9 3 3 J-J -....... 1124 112 ^ A p r ’ Oi
iVa ii*5*4
90-',
96 .......... 9 6 4
Leh cfc N V la t gu a r ir 4 s . . 1945 M-S
95 4 96*4
R e g is te r e d .......................... 1945 M-S
E l 0 cfc N 1st p f 6s ....... 1914 A-O ioT' " " I ! 1 3 4 J an ’ Oo
11341134
105 4Jau ’0
G old g u a r 5 s ...................1914 A-O
1054 1054
Leh A H ad R See C en t o f N J
Leh A W ilk e s b See C en t o f N J
L e ro y A C a n ey V a l See M o 1’
L o n g D o ck s e e E rie
174 .
1144 Dec’Oi
L o n g I s l’ d—1st con g 5 s . *1931
113*4 117
994 .
1st c o n s o l g o ld 4 8..........A1931
98 .
G en eral g o ld 4 s .................193 s
96 4 D e c ’ Ot
95 4 1 0 2 4
F e rry g old 4 4 s .................1922
102 N o t ’ o ,
"9 4 " ;
G old 4 s ................................. 1932
9 9 4 O ct ’ 06
99*4 9 9 4
......... 95
94
95
U n ified gold 4 s ................. 1949
95 4 1 0 1 4
1 0 7 4 ......... 110 J ’ n e’ 04
D e b e n tu re g old 5 s ............1934
......... 99:,4 98 J a n ’ 07
G u ar r e f g o ld 4a............... 1949
99 1 0 2 4
* 1 0 0 4 .........
B k ly n A M o n t 1st g 6 s ..1911
1 0 2 4 ......... 102 4 Jan ’ 07
10141034
1st 5 s ................................. 1911
110 ....... 1 1 0 4 N o v ’ OO
N Y B A M B 1st c o n g 5s 1935
1104 1104
108 4 ......... 109 4 Jan ’ 07
111 111
N Y A R B 1st g 5 s ........1927
109 109
N or ShB ls tc o n g g u o s o l9 3 2
109*» 1 1 1 4 109 N o v ’ Ot
105 105
L o u is ia n a cfc A r k 1st g 53.1927
......... 1 0 3 4 105 J ’ n o ’tK*
L o u is v <fc N a s h v g e n g 6 s. 1930
1 1 5 4 Sale 1 1 5 4
1144 1204
115*4
II6 4 ........ 1 1 6 4 N o v ’Ot
G old 5 s ................................. 103”
11641214
U n liied gold 4 s .................1940
9341044
100 >4 Sale 100»» 100*4
100 1 0 1 4
R e g is te r e d ............. . .. . . 1 9 4 0
1 0 1 4 J ’l y ’ oo
C oll tru st gold 5 s ............. 1931
lb ’ f 1.09 * 1 1 1 4 J ’ n e’ Oli
111141154
5-20-yr co l t r d eed g 4 8 .1923
J 95*8 1004
97*-.
* 9 7 4 97*4 1)74
E H cfc N a sh 1st g 6 s ___ 1919
n o \ ......... 110 D e c ’06 ...lino 110

H

I

K

I

B O X D .S —C o n tin u e d 011 N e x t P a n e .

(Jiu* a n d E l e c t r i c U i^ bt
L ae G as L o f S t L 1st g 5 s .e l9 1 9 Q -F 1 0 4 4 .......... 104 4 D e c *06
102 4 D e o ’ 06
R e f and e x t 1st 2 5 s ........1034 A O 1 0 2 4 1 0 5
80*4 M ilw a u k e e G as L 1st 4 s . . 1927 M-X ' .......... 9 1 4 9 1 4 J a n ’ 07
168*4 N Y 0» E L H cfc P g 5 s . . .1948, J - D 103 103 4 1 0 3 4 103 4
P u rch a se m o n e y g 4 s . ..1 9 4 9 F-A
84 4
844
84 4 Sale
E d E i 111 1st c o n v g 5 s ..1 9 1 0 -S 1 0 0 * 4 ......... 101 D e c ’ 06
99
101 D ec*03 .... 109 104
1st c o n s o l gold 5 s ......... 1995 J - J
1 1 3 4 J ’ n e’ 06
1 0 0 4 ......... 1 0 1 4 N o v ’ 06
100 1 0 1 4
N Y A ^ E l L c f c P 1st co n g 5 s l 9 3 0 F -A
*99% 9fe*4 D e c ’ 06
103 N o v ’ 05
X Y cfc R ic h G as 1st g 5 s .l9 2 1 M-N ......... 97
104*4 N o v ’ 05
Pat A Pan O A E c o n g 5 s. 1949 M S
112 X o v ’ 03
P e o G as A C 1st c o n g 6S.1943 A-O 1*19*' 120** 117 D e c ’ 1HI
6 1 4 O ct »01
103 Jan ’ OT
R e fn n d in g gold 5 s........... 1947 1I-S 101
'8 0 * 4 « 8 D e o ’0 6
8 6 4 90
100 ......... 107*4 D e e ’OO
C h G - L A C k e l s t ^ 'g o s 1937 J - J 1 0 3 4 106 4 106 O ct ’00
105 J ’n e ’ 06
C on G C o o f Ch l s t g u g 5 s . ’36 J -D 102 104
103 _____ 103 4 N o v ’OO
10341084
1 0 S 4 D e c ’05
M u F u e l G as 1st gu g 53.1947 M-N ........ 105
98 D e c ’ 06
95
93
S y ra cu s e L ig h tin g 1st g 5 s .’ 51 J-D
9 8 4 .........
T r e n to n G cfc El 1st g 5 s ..1 9 4 9 M-S 1 0 3 4 ......... 110 M ay’05
......... 1 1 7 4 117 N o v ’ 06 .... 117 122
102
93 4 M a r ’ 06
9 3 4 9 3 4 W e s tch e s te r L ig h t’ g e 5s. 1950 J -D 102 Sale 102

1 6 *4 -----

1W 4107
1 0 6 4 Jan 07
6 1 4 .......... 64*4 Jan ’ 07
63
..........1 3 7 4 1 3 7 4 1 3 7 4 ***8 137

• N o p rice F rid a y ; la te st bldand asked th is week,




135

1 0 4 4 N o v ’ 01

XIIW C 'E L l^ V N K O U ^
G n s a n d E l e c t r ic L ig h t
A tla n ta G L C o 1st g 5 « ...1 9 4 7
B k ly n U G as 1st c o n g 5 s .l9 4 5
B u ffalo G as 1st g 5 « ............1947
C on sol G as c o n v d eb 6 s ___ 1909
C on sm n G as See P G A C C o
D e tr o it C ity G as g 5 s ..........1923
D e t G as C o c o n 1st g 5 s . ..1 8 1 8
E d E l 111 B k u See K Co E L c » P
E d E III See N Y U & E L H A P
K q tt L N i ’ 1st c o n g 5 a ..193^
Gatcfc E le c B e r e C o e g 5 s .l9 4 9
G en E le c t r ic d eb g 3 4 s . .1 9 4 2
G r R ap G L C o 1 st g 6 s . . . 1915
H u d so n C o G as 1st g 5 s . .1 9 4 9
K a n C ity (M o) G as 1 st g 3s 1922
K in g s C o El U
P g 5 s . . .1 9 3 7
P u rch a se m o n e y 6 s . . » . . . 1997
E d El II Bkn 1st con g 4s 1939

98

BONDS
N . Y . ST O C K E X C H A N G E
W e ek E n ding J a n 18

[Y ol.

.....

v D ue J a n bD ue Feb

d D ae Apr eD ueM ay

hDue J ’ly kDue A ug 0Due Oct

102*81084
101 104»<
93
944
102 1 09*i
83
92
100 1 0 4 4
11 3 4 118
98 1 0 4 4
117
1014
104
106

123
107 T*
107
1M

l| 1 0 1 4 1 0 8 V

5 Due Deo jO c tto n S e le

New York Bond Record— Continued—Page 3

1907.1
B O N IKs
N . Y . STOCK E X C H A N G E
W e e k E n din g J a n 18
L o u isv cfc N a a h v —( C on tinued j
L Cin & L e x gold 4 4 s . . . 1931
N O cfc M 1st g old 6 s ___ 1930
N O & M 2d gold 6 s ........1930
P en sa cola D iv gold O s...1 9 2 0
S t L D iv 1st gold 6 s ........1921
2d gold 3 s . 1.....................1980
A t l K n o x cfc N o r 1st ga sl9 4 U
H ender B d g e ls t s t g 6 s .l9 3 1
K e n tu c k y C en t gold 4 s . .1987
LcfcN cfc M cfc M 1st g 4 4 s 1945
L cfc N -S ou th M Joint 4 s .1952
N Fla cfc S 1st g u g 5 s . ..1 9 3 7
P e n s cfc A t l 1 s t gu g O s..1921
8 cfc N A la con gu g 5 s .. 1936
S in k fu n d g old Os..........1910
'L & J e ll B d g e Co g u g 4 s . .1945
L N A & Cli See C 1 <fc L
ahon Coal See L S & M S
anh attan R y con sol 4 s .1990
R e g is te r e d ...................1990
M e tro p o l E l 1st g Oa----- 1908
M c K ’ p t cfc B V See N Y C en t
M e tro p o lita n E l See M an R y
5d.ex C en t co n s o l gold 4 s .. 1911
1st c o n s o l in com e g 3 s .o l9 3 9
2d c o n s o l in com e g 3 s ..a l 9 3 9
E q u ip cfc c o ll g old 5 s ........1919
C^ll tr g 4 4 s 1st S e r -----1907
M e x I n te r n a t 1st con g 4 s . 1977
M e x N o rth 1st gold 6 s -----1910
M ic h C en t See N Y" C en t
M id o£ N J See E rie
MU L S cfc W See C liic & N W
M il cfc N o rth See Ch M cfc St P
M in n cfc St L 1 s t gold 7 s. .1927
I o w a E x 1st g old 7 s ........1909
P a o ilic E x 1st g old 6 s ...1 9 2 1
S ou th W e s t E x 1st g 7 s .1910
1st c o n so l gold 5 s ............. 1934
1st a n d refu n d gold 4 s . .1 9 4 9
D es M cfc F t D 1st g u 4 s ... ’ 35
M in n <fc S t L g u See B O R & N
M StPcfc S S M c o n g 4 i n t g u ’ 38
M 8 S M & A 1st g 4 in t g u 1926
M in n U n S e e S t P M c f c M
M o K an & T e x 1st g 4 s . ..1 9 9 0
2d gold 4 s .......................... 0i99O
1 st e x t gold 5 s ...................1944
1st cfc r e fu n d 4 s .................2004
G en s f 4 4 s .................... 1936
S t L D iv 1st r e f g 4 s ___ 2001
D al cfc W a 1st g u g 5 s . ..1 9 4 0
K an C cfc P a c 1st g 4 s . ..1 9 9 0
M o K <fc E 1st g u g 6 s . ..1 9 4 2
M K cfc O k 1st g u 5 s ........1942
M K & T o l T 1st gu g 5 s . 1942
S h erS hcfc So 1st gu g 5 s . 1943
Texcfc O k l a l s t g u g 5 s . . . l 9 4 3
M o P a cific 1st c o n g 0s ...1 9 2 0
T r u s t gold 5s s t a m p e d .o l9 1 7
R e g is t e r e d ...................a l9 1 7
1st c o ll gold 5 s ...................1920
40-vear gold loan 4 s........194">
3 d 7s e x t d a t 4 % ...............1938
C en t B r R y 1st g u g 4 s . 1919
L e r o y cfc C V A L 1st g 5s 1920
P a c R ol M o 1st e x g 4 s . 1938
2d e x te n d e d g old 5 s . ..1 9 3 8
St L I r Mcfc S gen cou g 5 s l9 3 1
G en c o n stam p gtd g 5 s 1931
U n ilie d cfc ref gold 4 s .. 1929
R iv cfc G D iv 1st g 4 s .. 1933
V e r d i V I (fc W 1st g 5 s . 1926
Mobcfc Birrn p rior lien g 5s 1945
M o r tg a g e gold 4 s ............. 1945
M o b J & K C 1st c oils g 5s. 1953
M o b cfc O hio n ew g old 6 s ..1927
1st e x te n sio n g old 6 s ../il 9 2 7
G en era l g old 4 s .................1938
M on tg om D iv 1st g 5 s . .1947
S t L & C airo c o ll g 4 s ..e l 9 3 0
G u aran teed g 4 s ........... 1931
M cfc O c o ll 4s See Sou th ern
M o h a w k & M ai S e e N Y C cfc H
M on on ga h ela R iv See B cfc O
M on t C en t See St P M cfc M
M o r g a n ’ s L a cfc T See S P Co
M orris cfc E s se x See D el L cfc W
ash C hat & St L 1st 78.1913
1st co n so l g old 5 s ..........1928
J a s p e r B ran ch 1st g O s..1 9 2 3
M cM M W cfc A1 1st 0 s .. 1917
T & P B ra n ch 1st 6 s ___ 1917
N a sh F lo r cfc Sliel See L cfc N
N a t o f M ex p rior lie n 4 4 s . 1926
1st co n s o l 4 s ...................... 1951
N e w H <fc D See N Y N 11 cfc H
N J J u n e R R See N Y' C en t
N e w & C in B d g e A e s P e n n C o
N Ocfc N E p rior lien g 6 s p l 9 1 5
N Y B k ln & M an B cli See L I
N Y C en t & 11 R iv g 3 4 s . 1997
R e g is te r e d ...................... 1997
D e b e n g 4 s ........................ 1934
L a k e S h ore c o ll g 3 4 s . ..1 9 9 8
R e g is te r e d ...................... 1998
M ic h C en t c o ll g 3 4 s ___ 1998
R e g is te r e d ...................... 1998
B eech C reek 1 s t g u g 4 s . 1936
R e g is t e r e d ...................... 1936
2d g u gold 5 s .................1936
B e e c h C r E x t l s t g 3 4s& 1951
C art & A d 1st g u g 4 s . ..1 9 8 1
C learf B it Coal 1 st s i 4 s . 1940
9 o u V c fc O s w e l s t g u g 5 s 1942
M oll cfc M ai 1st g u g 4 s . .1991
N J J u n e R g u 1st 4 s . . . 1986
N Y cfc F u l s t c o n g u g 4 s 1993

M

N

P rice
F r id a y
J a n IS

W eek’ s
R a n ge or
Last SaLe

R ange
Y ea r
19 0 6

I0o%

123

.

.

A -0
A -0
J -J
J -J
J ’ ly
1’iy
A -0
F-A
M-S
J-D

J-D
J-D
A -0
J-D
M-N
M-S
J -J

1 0 0 4 Salt101% S a lt
85 Sale
25 4 Sale
1 8 34 S a lt
904

131

.........

1*184 Sale
110 Sale
93% Sale
92
98
100

J -J
J -J

9 74 934
J-D
8 . 4 Sale
E-A
M-N 1 0 2 4 1 0 4
M-S
8 7 's Sale
J -J
86 ___
A -0
M-N 104 4 105
91
96
F-A
A -0 1101*1117*.
M-N 1 0 6 -j 108
M-S ..........105 4
J -D 104 .........
M-S 106 4 .........
M-N 119 Sale
M-S *104 4 ..........
M-S
F-A ib ’ i 4 S a le"
89 .........
M-S
994100*,
M-N
9 4 34 9 6 4
F -A
J -J
F-A
J -J 114 117
A -0 113 4 Sale
A -0
87
J -J
M-N
M-S
J -J
J -J
J-J ......... 98
J -D 1^2-4 1 2 2 4

lOi?!.... .

f t
F-A

.......... 94 4
109 ..........

I!

.j
A -0
J-J
J -J
J -J
j

J .J
A-O

1 1 6 4 Sale
1134114
1 1 5 3 s ........... .
1 1 0 ;,4 .............

87

Sale

93% Sale
.......... 93 4
98
99
87 4 Sale
84
87
86
874
3 4 ’ , Sale
1 0 0 4 .........
104
103%

105
105
103
103
9 4 ’-,
93 4
94 Jan ’ 07
933.J
98%

.

O

’,

ibo" ib44

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

98 .......... 107 4 O c t ’04
..................... 102% A p r ’ 06
74

Sale

74
107%
107
102 4
105 4
105
943,
95 Sale
106 ......... ’. 0 8 ‘,
105 4 8ale 105 4
102
100
102
J634 95
96

75
D e c ’ 04
M ay’97
O ct ’ 03
D e c ’ 06
O ct ’ 00
93
D e c ’ 06
105 4
D e c ’03
l>ec ’ 06
96%

101 %

122 *2 125 4

104
1184
119
103
1064
94 4
95

104 1 0 7 4
118 4 120
119 119
103 1 0 4 4

D e c ’ 06
J ’l y ’06
J ’ n e’OC
D e c ’06
N o v ’ OO
D e c ’ ot;
D e c ’ Ob

"9 4 4 *9 4 4
95
984

1 0 1 4 J ’l y ’ 06

10141014

119 4 M ar’05
11 3 \
113^4
11334 Jan ’0

1114118

103 7t A u g ’ 06
102% 103
100% O ct ’ 06

103% 1 04
102 106
100% 100%

124

124

F e b ’06

125

994
100
101 4 J ’ n e ’06

99410434
101 1 0 1 4

104
129 4
1303,
1274
99
100
97 4
90 4
109 4
994

104
129
1303,
127*,
98%
100
96
90%

Sep ’06
J an ’07
F e b ’ O;;
O ct ’ 06
99 >,
F e b ’OO
D e c ’ 06
91
F e b ’ 05
J a n ’07

111
1323*
130*4
1274
102%
100
99 4
954

98" io -r

101 "’4 1 0 2 4
1003, 10Ua,
73
733,
75 N o \ ’ 00
95 34 I a n ’ 01

102 1 0 6 4
lOO3, 106
734 784
74 4 76
95. 101

123s,
132
113
108 4
98 4
9.i
117

1224125

N o v ’ OO
J ’ l y ’99
M ar'06
N o v ’ 06
O ct ’ 06
M ay’ Ou
N o v ’ 06

113 113
107a, 110
984100
91
93
115 117

116 M ay’OO
113 4 N o v ’ OO

116 116
U 041143*

99 D e c ’ 06
109 4 D e c ’ 06

9 8 4 100%
109 4 114

103
106 4
106
90 4
90
95
89
90 4
105
115
1084

J ’ l y ’06
i0 7
D e c ’06
J ’n e ’06
O ct ’ 06
Jan ’ 07
O ct ’ 06
M a r’ Od
105
J a n ’07
A u g ’ 03

103 106%
104 4 108%
105 106
90 4 9 0 4
923,
90
95 4 98
89
89
904 904

984
96
964
98-',

D e c ’05
J a n ’04
Jan ’06
A p t ’ 04

10->4
109 4
1124
98
90 4

O ct ’ 06
J a n ’ 07
J ’ue'05
J a n ’07
D e c ’ Ob

127%
119
119
104
111 4
106
9 2 3,
964
104 4
110

O ct ’ 02
J ’n e ’ 06
A p r ’ 04
D e c ’ Ob
Sep ’ 04
A u e ’ 03
93 4
9 7 3,
O c t ’ 05
J a n ’ 05

92
96

101
1 0 5 s*

108

Sep ’ 06 . . . . 105

108%

J -J
Q -J
M-N
F -A
M-N
J -J
M-N
M-N
J -J

90
96 4
109 4
1014 1014
105 4
103
102 4 103
99 4 100
.......... ......... 1 0 6 4
103

73

A m C ot O il e x t 4 4 s ............1915
Am H id e cfc L 1st s I g 6 s ..1 9 1 9
A m e r I c e S e cu r deb g 6 s . . 1925
Am S p irits M lg 1st g 0 a . . l 9 1 5
Am T h rea d 1st c o l tr 4 a ...1 9 1 9
‘334 A m T o b a c c o 4 0-yr g 6 s ___ 1944
<184
4 s ............................................ 1951

Q -F
M-S
A -0
.Vl-S
J-J
A -O
F -A

90
89
88
101
90
10.14
7S4

834

105 4105 4

"96% i ’0 14
106 1104
1064 HI

ibo" ib
913,

•N o prioo F rid ay ; la te st bid and asked. a D u e Ja n 6 D ue F eb c D ue M ar d D ue A p r /t D ue J ’ly fc D ue A ug




H igh,
io s T
1074
1014
9934

125 4 M a r'0 6
139 J a n ’ U3

T e l e g r a p h a n d T e le p h o n e
A m T e le p <fc T e l co ll tr 4a 1929
C om m C able C o 1st g 4 s . .23 9 7
M e t T cfc T 1st s l g 5 s ........1918
M ic h . S tate T elep . 1st 5 s . 1924
N Y cfc N J T e l gen g 5 s ..1 9 2 0
W est U n io n co l tr cu r 5 s . 1938
Fd and real est g 4 4 s . ..1 9 5 0
M u t U n T e l s fu n d 6 s . ..1 9 1 1
N o rtliw T e l g u t 4 4 s g . . 193-1
'I a n u la c t u r i n g J c I n d u s t r ia l

102% 102%
18

3" 104"
1 102 4
28 94
93
25 96 4

117 4 122

904

964

108 4 1 1 2 %
10941124
99
89%

99
944

117 4 1 1 9
1*0*4** i*0*6*4

B O N U S —C o n tin u e d o n N e x t Paste

974105
88 1 0 2 4

......... 100
99% J a n ’ 07
85
......... 8 4 J ’l y ’ 06

R an ge
Y ea r
1906

H ig h No Low

Low

127" i3 * 6 "
1 22 4 1224
10741074
11741204
714 714
116 116
1084 1084
98 101
108 110
033, 98
111 117%
11141124

M I S C E L L iN E O U S
U on l a n d i r o n
O ol F cfc I C o gen s f g o s . .1 9 4 3
C o n v e r tib le d eb g o s . ...1 9 1 1
C ol C cfc I D ev g u 5a g .,1 9 0 9
C ol F u el C o gen gold 6a. 1919
G r R iv Coal cfc C 1st g 6 a l9 1 9
C olora d o In d u s tria l
1st n m e cfc c o ll 5s g u ___ 1934
C o n tiu ’ t a l C l s t s f g u 5 s g . l 9 5 2
J ell cfc C lear Ocfc 1 1st g 5 s . 1920
_ 2d gold 5 s ............................1920
K a n cfc H C cfc C 1st s 1 g 5 s .l9 5 1
P le a s V al Coal 1st g s f 5 s. 1928
T e n n Coal gen 5 s ...............1951
l 'e n n D iv 1st g Oa........a l9 1 7
B lrm D iv ls t c o n s o l O s..1917
Call C M Co 1st g u g 6 s .l9 2 2
D e Bar O <fc 1 Co g u g 6 s . 1910
V a *ron Co fc C o ls t g 5 a .1949

W eek’ s
R a n y e or
L a st Sale

L ow H igh,

I

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

P r ic e
F rid a y
J a n 18

Hid
ASh.
X Y C en t cfc H R—(C o n tin u e d )
N o r & M o n t 1st gu g 5 s . 1916 A O
W e s t Sh ore 1st 4s g u . . . 2361 J -J 105 Sale
1023, 103*R e g is t e r e d ...................... 2361 J -J
93 4 Sale
L a k e S h ore g o ld 3 4 s ___ 1997 J-D
R e g is te r e d ...................1997 J-D .......... 94 '■
9 8 :,4 Sale
D e b e n tu re g 4 s ............. 1928 M-S
K a A cfc G R 1st g u c 5 s . 19381 J -J 1 1 2 4 ........
114 .........
M ah on C’ l R R 1st 5 s . .1 9 3 4 J - J
1 2 t » 3 4 .............
P itts M c K cfc Y 1st gu 6 s .1932 J -J
2d g u a r 6 s........................ 1934 J -J 125 .........
M c K e e s cfc B V 1st g 6s 1918 J -J 1 0 6 4 .........
M ic h C en t 1st co n s o l 6 s .1909 M-S 102 .........
5 s .........................................1931 M-S 1 1 5 % .........
R e g is t e r e d ...................1931 Q-M
4 s .........................................1940 J -J 100
R e g is t e r e d ...................1940 J-J
97 100 4
J L cfc S 1st g 3 4 s ........... 1951 M -S
1st g 3 4 s ............................1952 M-N
99*8 1 0 0 4
9 9 4 103 %
B a t C cfc S tur 1st g u g 3 s .1989 J -D
104 A p r ’05
N Y & H arlem g 3 4 s . ..2 0 0 0 M-N
10134 101
R e g is t e r e d ...................... 2000 M-N
102% 1 0 6 "
N Y cfc N o rth 1st g 5 s . ..1 9 2 7 A -O 112
B f f & O co n ls t e x t 5 s .A 1 9 2 2 A - 0 113 4
85
85%
O sw e & R 2d g u g 5 s ...« 1 9 1 5 F-A
7 5 4 87
254
27 4;
R W <&O T R 1 s t g u g 5 s .1918 M-N
16 4 28%
98 .
18%
20
U tica cfc B lk R i v g u g 4 s . 1922 J -J
14
2 1 rb
X Y C h ic cfc St L 1st g 4 s . 1937 A -O 102 4 .
1 0 0 4 D e c ’ 06
R e g is t e r e d ..........................1937 A-O 1017a .
984101
9 0 58 J ’ l y ’01
N Y cfc G re e n w L a k e See E rie
105 M ay’ OO
N Y <fc H a r See N Y C & H ud
X Y L a ck & W See D L <fc W
X Y L E cfc W See E rie
X Y cfc L o n g B r See C en t of N J
N e w Y o rk N e w H a v cfc H a r t—
137 J ’ n e’ 05
H o u s a to n ic R c o n g 5 s .. 1937 M-N 1 1 4 % .
1 1 1 4 O ct ’05
N H cfc D e rb y con c y 5 s .1918 M-N
118 6 1 1 8 4
118 120% N Y cfc N o rth See N Y C cfc H
9 ‘J34 s ai e
113 4 M a r’ 05
N Y O c f c W r e f l s t g 4 s ..ffl9 9 2 M-S
110
110
R e g is § 5 ,0 0 0 o n ly ..........grl992 M-S
1*09** il*4*4
93*8
93%
N
Y
cfc
P
u
t
See
N
Y
C
cfc
H
9 0 4 97
97 A p r ’06;
97
9 7 4 X Y cfc R B See L o n g Isla n d
X Y S cfc W See E rie
101 O ct ’ 06
10034 1 0 2 4 X Y T e x cfc M See So P a c Co
103 N o v ’ 01
X o r & S ou th 1st g 5 s ......... 1941 M-N
X o r l & W e s t g e n g 6 s ........1931 M-N 1 2 9 % ........
97 %
Im p r o v e m ’ t cfc e x t g 6 s . .1934 F-A 130 ........
964103
984
8-i
N e w R iv e r 1st g 6a........1932 A -0 127 ........
S74
8 4 4 92%
9934 Sale
103
103
N cfc W R y la t c o u g 4 s .1996 A-O
L02 107%
86
86
R e g is te r e d ...................... 1996 A-O
82% 9 1 4
88
87 4
D iv ’l 1st 1 cfc g e n g 4 s . . . 1944 J - J
85 9 0 4
87
87
94
P o c a h C & C j o i n t 4 s . .l 9 4 1 J -D ’ 9 0 4 " I "
88
108 F e b '0t:
C C cfc T 1st g u g 5 s ......... 1922 J -J 105 ........
107 108
94 O ct ’06
9 9 4 ........
94
S cio V & N E 1st g u g 4s 1989 M-N
964
1104
1104
N o rth Illin o is See Chi & N W
110 116
1 0 6 4 J a n ’ 07
104 >4 109% N o rth O hio See L E r ie <fc W
1064 1 0 6 4
105 109% X o r Pac— P r io r lie n g 4 s .. 1997 Q J 101 % 1024
1 0 8 4 A p i ’06
R e g is te r e d ...................... 1997 Q-J
1 0 8 4 103*,
1053, A p r ’Ou
7 3 Sale
1053, 1 0 9 4
G en eral lien g o ld 3 s ___ a2047 Q -F
119
l l- i %
R e g is t e r e d ...................a2047 Q -F
1 1 8 4 125
104 4
105
S t P a u l-D u l D iv g 4 s ___ 1996 J -D
103 107 4
107 4 F e b ’ 06
104 1 0 7 4
D u l S h o rt L l e t g u 5 s .. 1916 M -S 1 0 1 4 ........
105
105
C B & Q co ll tr 4s See G t N or
102 4 1 0 8 4
89 4 J a n ’ 07
S t P * N P g en g 6 s . . ..1 9 2 3 F-A 122 ........
90
944
R e g is te r e d c e r tilic ’ s .. l 9 2 3 Q-F 1 1 5 4 ........
St P a u l <fc D u l 1st 5 s . ...1 9 3 1 F -A 112 .......
964
96 4
99
93
110 M ar’ 05
2d 5 s ................................. 1917 A -O 108 110
101®, j a n ’ 07
94 ........
1st c o n s o l g o ld 4 s ..........1968 J-D
1*01% 1*05**
90 ........
1 1 7 4 117 s,
W a s h C en t 1st g 4 s ..........1948 Q-M
116 120%
111411734 X o r P a c T e r Co 1st g 6 s ..19 3 3 J -J 1 1 3 4 ........
1 1 3 4 113%
116 N o v ’05
X o r R y C al See So P a c
86
87
X o r W i8 See C S t P M cfc O
89 4 94
92
<i‘l
N o r & M o n t See N Y C en t
9 1 4 96
107 4 A p r ’ 06
In d <fc W See C C C cfc S t L
107 1 0 7 4
1153b A p r ’06
h io R iv e r R R 1st g 5 s . 1936 J-D 1 1 3 4 . . .
113 115%
96 ( J e t ’ 05
G e n e ra l g o ld 5 a.................1937 A -0 107 4 1 1 1 4
98 D e c ’ 06
’ 94 4 "98*" O re cfc Cal See S o P a c Co
12 1 S 1 2 2 4
12434 128», O r e R R & N a v See Un P a c
122 D e c ’ 05
O re S h o rt L in e See U n P a c
99
93 4
93 4
O sw e g o & R o m e See N Y C
93
1 1 3 -a 1143, O C F & S t P See C cfc N W
114 4 J ’l y ’06
92 4 A u g ’ 06
O z’ rk cfc C h er C 1st g u 5s g.1913 A-O
974
9 2 4 98
101 N o v ’04
109
J a c C oa st C o 1st g 5 s ___ 1946 J-D
- a c o f M is s o u r i See M o P a c
Panam a 1 s t s fu n d g 4 4 s . . 1917 A-O 101 ........
Penn Co— G uar l a t g 4 4 8 .1 9 2 1 J -J 1 0 5 4 1 0 6
.........
R e g is t e r e d ...................... 1921 J - J 1 0 i
88 4 _____
G u ar 3 4 s c o ll tru s t r e g . 1937 M-S
8 7 % .........
G u a r 3 4 s c o l l tr ser B ...1 9 4 1 F -A
T r Co c e r t if’s g u g 3 4 s . 1916 M-N
9 4 j4 95
1164 1 1 6 4
1134119%
G u 3 4 s tr c t fs C ...............1912 J D
1 1 3 4 Jan ’ 07
112 1 1 5 4
Ga*3 4 s tr c t f s D ...............1944 J -D
1 1 9 4 F e b ’ OO
1194 1194
G u a r 15-25 y . a r g 4 a ___ 1931 A - 0 .......... 9 7 4
1 1 7 4 M a r'0 5
113 J ’ly >04
C S t L cfc P 1st con g 5 s .l9 3 2 A -O 1 1 5 4 .........
Cl cfc P g e n g u g 4 4 s s e r A . ’ 42 J -J 107 4 .........
1014105
102% D e c ’ 06
S e rie s B ............................1942 A -O 1 0 6 4 .........
87
8"
S e rie s C 3 4 s ...................1948 M-N
824 874
S e rie s D 3 4 s ...................1950 F-A
9 2 34
E r ie cfc P i t t s g u g 3 4 s B .1 9 4 0 J -J
S e rie s C ............................1940 J -J
N cfc C B d g e g e n gu g 4 4 s 1945 J -J
P C C cfc S t L g u 4 4 s A . ..1 9 4 0 A -O 1 0 9 4 .
S e rie s B g u a r .................1942 A -0 109 4 .
934
933, 210 91% 993,
92 H J an ’ 07
S e rie s C g u a r .................1942 M-N
92
984
S e rie s D 4s g u a r ........... 1945 M-N i b o ^ ;
984
99
31 98 102 4
S e rie s E 3 4 g u ar g ___ 1949 F-A
91
.
87 4
8 8 4 57 86 4 93
8
Se rie s F 4 s g u a r ..........1953 J -D 100 .
11 85 4 9 1 4
86 4
86
P itts F t W & C 1st 7 s . ..1 9 1 2 J - J
864
41 8 6 4 9 2 4
8434
b43,
2 8 6 4 90 4
2 d 7 s ................................... 1912 J - J
102
102
1 102 105 4
3d 7 s ............................... /11912 A -0
102 Mar*04
P enn l i R 1st real est g 4 s . l 9 2 3 M-N ..........103*5
C on sol g o ld 58................... 1919 M-S
C o n so l g o ld 4 s ................... 1943 M-N
C o n v e r tib le g 3 4 s ........... 1915 J-D
93 4 Sale
95 A p r ’ 02
C o n v e r tib le g 3 4 s ........... 1912 M N
96 4 Sale
A lle g V a l g e n g u g 4 s . ..1 9 4 2 M-S 102
103 D e c ’06
103 103
Cl cfc M ar 1st g u g 4 4 s . . 1935 M-N
105 O ct ‘ 02
D l i R Rcfc B g e l s t g u 4 s g . ’ 36 F -A
G r lic fc I e x 1st g u g 4 4 s 1941 J - J 10234 ..........
1 0 1 4 D e c *06

H igh
ASk LOW
109 M a r’ 05
. 127 D e c ’ 06
122 *4 M a r’06
107 4 A u s ’ 06
120 Sale 120
120
75
7 1 4 Sep ’ 06
116 J ’ly ’ vG
1 0 8 4 Jan ’06
96 >4 9 S 4 97 % J a n ’ o7
103 107 4 108 J ’ ly ’ 00
92
91*4
92
112^ .
114 D e c ’06
112
112 Jan ’ 07
11134 .
115*4 M ar’ 05
104 4 .
107 D e c ’ 05
97 M ay’ 06

S id

BONUS
N. Y. STOCK E X C H A N G E
W eek E nding j a n 18

147

9 13<

Jan ’ 07 .... 90% 9 5 4
J 'n e '0 6
9 6 4 98
M ay 05
J ’l y ’ 06
1014 1014
J ’i y ’ 03
103 1 0 9 4
J a n ’ 07
1 0 0 4 19 99 4 1 0 6
M a r’ 06 .... 1 0 6 4 1 0 7
J ’l y ’ 04

924
Sale

2 94
91
91
98
89
89% 11 89 1 0 0 4
88 J a i? ’ 07
86% 94
102
102
1 98 104
.
91 D e c ’ 06
88 4 9 2 %
109 4
110 4 225 109 117
77%
7 8 4 94 7 6 4 84

924

102
Sale
Sale

0 D ue Oct p Duo N ov q Duo De« « O p tio n S a le

New York Bond Record— Concluded—Page 4

148
B O D iU .'
« . Y. S T O C K E X C H A N G E
W e b k K n d ik g J a n 18

P rice
F r id a y
J a n 18

P en n U K —( C on tin u ed J
P h ila B a l A W 1st g 4 s . .1 9 4 3 M-N
S u n * B e w is 1st g 4 s . ..1 9 3 0 J
U N J K K & Can g en 4 s .1944 M-S
1‘ erasacola & A t l See B & Naah
P e o A E a st See C C C <fc S t L
P o o A P e k U n 1st g 6 s . . ..1 9 2 1
2u g o ld 4 % s .. ...................61921
P ere M a ra — Cli A W M 5s 1921 J
P lin t A P M g 6s ............... 1920 A-O
1st c o n so l g o l d 5 s ..........1939 M-N
P t H u r o n D iv 1 st g 5 s .1939 A-O
S a g T u a A H 1st g u g 48.1931 F-A
P iu l B A W Sm P e n n R R
P liila A R e a d in g c o n s 7 s . 1911 J -B
P in e C reek r e g gu a r 6 a . . . 1932 J -D
P itts Gin A S t B S ee B en n Co
P itts O leve A T o l See B A O
P itts F t W A Cli See P en n Co
P itts J u n o 1 s t g o ld 6s ........1922 J - J
P itts A la E r ie 2 d g 5 s . .. a l 9 2 8 A -O
Pitta M oK eea A Y See N Y Cen
P itts Sh A L E 1 s t g 5 s . . . 1940 A -O
1 st oo n s o l g o ld 5 s ............. 1943 J - J
P itta & W ea t See B A O
P itta Y A A ali 1st con 5 s .1927 M-N
! j ea d in g C o g e n g 4 s ........1997 J -J
JLV R e g is t e r e d ......................1997 J -J
J e r s e y C en t c o ll g 4 s . . . 1951 A 0
R en s sela er A Sax See 1) A H
R ic h & B a n See S ou th P.y
R ic h A M e e k See S ou th ern
R io U r W e s t See B e n & R io G r
R io G r J u n e 1st g u g 5 s . . . 1939 J -D
R io g r S o 1 s t g o ld 4 s ..........1940 J - J
G u a ra n teed ........................ 1940 j - . j
R o c h A P it t s See B R & P
R om e W a t A O g See N Y Cent
R u tla n d 1st c o n g 4 % s ___ 1941 J - J
O g A L Cham 1st g u 4s g .l9 4 S J -J
R u t-C an ad 1st g u g 4 s . . .1 9 4 9 J - J
a g T u s A H See Pert) M ara
t J o A G r Is! 1 st g 4 s . ..1 9 4 7 J -J
St L a w A A d ir o n 1st g 5 s . 1996 J - J
2d g old 6s ............................ 1996 A -O
S t 1. A C airo See M o b & Ohio
St L <fc Ir o n M o u n t See M P
S t 1. K C A N 1 See W abash
S t L M Br See T R K A o f S t L
S t L o u is & S a n F ra n cisco —
G en era l g o ld 6s ................. 1931 J - J
G en era l g old 5 s ................. 1931 J - J
S t L A S F R R c o n s g 4 s . . ’ 96 J - J
S ou tliw B i y 1st g 5 s . .1 9 4 7 A-O
R e fu n d in g g 4 s .............1951 J -J
5-year g o ld n o te s 4 % ..1 9 0 8 J -D
K C F t S A M c o n g 6 s . . 1928 M-N
K C F t S A M R r r e l g 4s 1936 A-O
K C & M R A B 1st g u 5 s .1929 A-O
S t B M A S o E a s t g u 4 *2gl909 J -D
S t B o u is S o See Illin o is Cent
8 t L S W 1 s t g 4s bd c t f s . 1989 il-N
2d g 4s in c bond c t f s . .. p l 9 8 9 J - J
C on sol g o ld 4 s ...................193: J -D
G ra y ’ s P t T e r 1st g u g 5s 1947 J-D
S t P a u l A B u i See N o r P a cific
St P a u l M A M an 2d 6 s . . .1909 A -O
l e t co n s o l g old 6s ............. 1933 J - J
R e g is te r e d .......................1933 J - J
R e d u c e d t o g old 4 % s ..l9 3 3 J - J
R e g is te r e a .................. 1933 J -J
D akota e x t g old 6s ..........1910 M-N
M on t e x t 1st g o ld 4 s ___ 1937 J -B
R e g is te r e d ...................... 1937 J -B
E M in n 1st d iv 1st g 5 s . .1 9 0 8 A-O
N o r B i y 1st g o ld 4 s ___ 1948 A-O
M in n U n ion 1 s t g 6 s . . ..1 9 2 2 J - J
M on t C 1st g u g 6s ..........1937 J - J
R e g is t e r e d ......................1937 J - J
1st g u a r g old 5 s ............1937 J -J
W ill & S F 1 s t g old 5 s .,1 9 3 b J-B
St P A N o r P a c See N o r P a c
St P & fa’ x C ity See C S t P Ai A O
S F e P rea A P h 1 st g 5 s. ..1 9 4 2
8 A A A P See S o P a c Co
S F A N P 1st s in k f g 5 s . 1919 J -J
S a y F A W e s t See A t l Coast L
S cio to V a l A N E See N o r it VV
Seab oard A i r B in e g 4s ...1 9 5 0 A-O
C oll tr r e fu n d g 5 a ..........1911 M-N
A tl-B irm 3 0 -y r la t g 4 s .e l9 3 3 M-S
C ar C en t l a t con g 4 s . . . 1949
J
F la C en A P e n 1st g 5 s.1 9 1 b J - J
1st lan d g r e x t g 5 s . . .1930 J -J
C on s ol g o ld 5 s ............... 1943, J -J
G a A A la R y 1 st c o n 5s &1945 J - J
G a Car A N o 1st g u g 5s 1929 J - J
S eab A R o a 1st 5 s ............... 1926 J -J
Slier S h r A So See M K A T
Sil Sp O ca A G See A t l C oast L
Sod B a y A S o 1st g 5 s ........1924 J - J
8 o C ar A G a See S ou th ern
8 o P a c C o—R R 1st re f 4 s . 1955 J -J
G o ld 43 (C en t P a c c o ll)./c l9 4 9 J -B
R e g is t e r e d ................... £19 49 J -D
A A N W 1st g u g 5 s ___ 1941 J - J
C en t P a c l a t r e f g u g 4a 1949 F-A
R e g is t e r e d ...................... 1949 F-A
M o r t g u a r g old 3 % a ..fc l9 2 9 J -B
T h r o u g h S t B 1 s t g u 4s ’ 54 A-O
G al H a r A S A 1st g 6 a ..1 9 1 0 F-A
M e x A P a c l a t g 5 s ___ 1931 M-N
G ila V G A N 1 s t g u g 5 s . 1924 M-N
H oua E A W T 1 s t g 5 s . 1933 M-N
1st g u a r 5s r e d ............1933 M-N
H A T C l 8 t g 5 s i n t g u ..l 9 3 7 i J -J
C on sol g 68 in t g u a r ...19 1 2 A-O
G en g o ld 4 s in t g u a r .. 1921 A-O
W a c o A N W d iy 1st sc 6a ’ 30 M-N

u

S

98 V ,........
.........110

W eek's
Range or
L a st Sale

R ange
Y ear
iy u 6

o©

Low
H iuh A'o Low H ig h
107*2 O ct ’0 6 ----- 107*2 H O 1?
110*2 S ep ’ 04

114

_____ 123 *3 J a n ’ 05
......... 100% D e c ’ 0;
......... 109 A p r ’ 02
115 118
113 *2 N o v ’06
109
105 N o v ’ 06
1 03 *8......... 106 *2 S e p ’ 06

112*2 118
105 110*2
11/6*2 111*2

115*2 M a r’ 06
137 N oy ’ 97

1 0 7 * a .......
114% U 6

115*2 115*2

120 O ct ’01
107 *2 N o v ’06
120
98

107*2 107 *2

M a r’06
J ’l y ’ 97

118

116 M ay’ 05
97%
98 *2 124
100*2 J’ n e ’06
9o*v 96*2
96*2

108 % . . . .
97 7s Sale
96

109
76
89

97% 102%
99*2 100*2
95% 101*2

M a r’ 05
D e c ‘05
Jan ’ 0

106 *s O ct ’ 05
98*2 J ’ n e ’ 06
101*4 N o v ’ 01
92

Sale

91
122

120

98*2 100*2

92
J a n ’06

00
122

132 % .

123 *2___
110 111

123*2 123*2
109% J a n ’ 07
93 Jan ’ O'"
.............. 9 2 %
102*4 A u g ’05
82
82*,
" 8 2 " Sale"
98 N o v ’06
119 J a n ’ 07
118% .
S I 1* .
82
82

125 128%
109*2 114
92
95 k
81% *8 8 *"
95*4 98
120% 121
81
87 7t

94*2
82
78*4

94
82*a
76

99=>j
89
82

105% Sale 105% 1 0 5 \
1 30 *2_____ 133% N o v ’ 06
134 B e c ’ 06
108 108% L l l D e c ’06
116% A p r ’ 01
1 06 *2......... 106*2 N o v ’ 06
100 103*2 100 D e c ’ 06
100% O ct ’ OH
100% D e c ’ 06
100*2.

105%
133
134
107%

109*2
137%
134
112*2

1 0 6
100
lOO**
100*2

ill"
104*4
100 Si
101%

124 M ay’ 05
117*2 122
130 134*2 133 O ct ’ 06
136% M ay’06
113 .
116 A u g ’ 06
115*2 D e c ’06
115*2 .

133
136*4
116
115%

136
136*4
119*2
115%

106*2103*4 107 *4 D e c >06

107*4 112*2

8 ‘J

94*2
84

io i*

94*u
82
78*4

94*2
122

110

O c t ’ 05

N . Y . S T O C K E X C H A N G E 1C ]
W e e k E n d in g J a n 18
i -5:
S ou th ern P a c Co— ( C o n tin u ed )
M o r g a n ’ s La & T 1st 7 s .l9 1 S A-O
1st gold 6 s ...................... 1920 J - J
N o ot Cal 1st gu g 6s ___ 1907 J - J
G u aranteed g old 5 s ___ 1 9 3 8 iA -0
O re & Cal 1st gu a r g 5 s . 1927 J -J
S A & A Pass 1 s t g u g 4 s . 1943' J -J
So P o f A r g u l s t g 6 s ...c l9 0 9 i J - J
1st g u a r g 6s ............... c l9 1 0 J - J
S o P a c ific o f Cal—
l s t g 6s s e r ie s E & F . . . 1 9 1 2 A-O
1st g o ld 6s ...................... 1912 A-O
1st c o n g u a r g 5 s ......... 1937 M-N
S ta m p e d ........... 1905-1937 M-N
S P a c o f N M e x l s t g 6 s . . l 9 1 1 J -J
S o P a c C o a s t l s t g u 4 s g .1 9 3 7 J - J
T e x < fc N O S a b D iv ls tg 6 s .l9 1 2 M-S
C on g o ld 5 s .....................1943 J - J
S o u th e r n —1st co n g 5 s ___ 1994 J - J
R e g is t e r e d ...................... 1994 J -J
M o b & O hio c o ll t r g 4 s . . l 9 3 8 M-S
M em D iv 1st g 4 % -5 s ...1996 J -J
S t L o u is d iv 1st g 4 s ___ 1951 J . j
A la C en R 1st g 6s ..........1918 J - J
A t l & D a n y 1 s t g 4 s ........1948 J - J
2d 4 a ................................. 1948 J - J
A t l & Y ad 1st g gu a r 4 8 .1949 A-O
C ol & G re e n y 1st 6s ........1916 J -J
E T V a & G a D iv g 5 s . .1 9 3 0 J - J
C on 1st g o ld 5 s ............. 1956 M-N
E T e n re o r lien g 5 s ........1938 M-S
G a M id la n d 1st 3 s ........... 1946 A-O
G a P a c R y 1st g 6s ..........1922 J -J
K n o x & O hio 1st g 6s . . . 1925 J - J
R ic h & D an c o n g 6a___ 1915 J -J
D e b 5s sta m p e d............. 1927 A-O
R ic h & M e e k 1st g 4 s . . . 1948 M-N
So Car & G a 1st g 5 s ___ 1919 M-N
V ir g in ia M id s e r C 6 s . . .1 9 1 6 M-S
Se rie s D 4 -5 s ................. 1921 M-S
S e rie s E 5 s ...................... 1926 M-S
G e n e ra l 5 s .......................1936 M-N
G u ar s ta m p e d ........... 1936 M-N
W O <fe W 1st c y g u 4 s . .1 9 2 4 F-A
W e s t N C 1 st c o n g 6 a ..1 9 1 4 J - J
S & N A la See L <fe N
S p o k F a lls tfc N o r 1 s t g 6 s .1939 J - J
S tat l 8l R y 1st g u g 4*28..1 9 4 3 J-D
S y ra B in g & N Y See B B & W
r| 'e r A o f S t B 1st g 4 % s ..l9 3 9 A -O
X 1st c o n g o ld 58___ 1894-1944 F -A
G en r e fu n d s f g 4 s ......... 1953 J - J
S t B M B g e T e r gu g 5 s .1930 A -O
T e x & N O See So P a c Co
T e x e fe P a c 1st g o ld 5 s ........2000 J -B
2d g o ld in c 5 s ...................^2000 Mar
L a B iy B B 1st g 5 s ........1931 J - J
W M in W < t e N W l s t t r u 5 s ’ 30 F -A
T o l & O C 1 st g 5 s ............... 1935 J - J
W e s te rn B i v 1st g 5 s ...1 9 3 5 A-O
G e n e ra l g o ld 5 s .................1935 J -B
K an & M 1st g u g 4 s ___ 1990 A-O
T o l P & W 1st g o ld 4 s . ...1 9 1 7 J -J
T o l S t B & W p r li“ * \ g 3 % s.l9 2 5 J -J
50-year g o ld 4 s .................1950 A-O
T o r H am & B u ll 1st g 4 s . A1946 J -B
ls te r & B e l 1st co n g 5 s 1928 J -B
1st re fu n d g 4 s ........... 1952 A -O
U n P a c R R <fc 1 g r g 4s ...1 9 4 7 J -J
R e g is te r e d ...................... 1947 J - J
O re R y
N a y c o n g 4 8 .1 9 4 6 J -D
O re S h ort B in e l s t g 6 a . . 1922 F -A
1st c o n s o l g 5 s ............... 1946 J - J
G u ar r e fu n d 4 s ............. 1929 J -D
R e g is t e r e d ...................1929 J -D
U tah <& N o r 1st 7a..........1908 J - J
G o ld 5 a ..............................1926 J - J
U ni N J R R & C C o See P a R R
U tah C en tral See R io G r W es
U tah & N o r t h See Un P a cific
U tica & B la c k R See N Y C ent
andalia c o n s o l g 4 s ___ 1955 F -A
era C ruz & P l s t g u 4 % s l 9 3 4 J - J
V e r V a l I n d & W See M o P
V ir g in ia M id See S o u th R y
V a <& S o u th w ’ t 1st g u 5 s .200 3 J -J
a ba sh 1 s t g o ld 5 s ........1939 M-N
2d g o ld 5 s ...................1939 F-A
B e b e n tu r e series A ........1939 J - J
C e rtifica te s o f d e p o s it ___
S eriea B ............................1939 J - J
C ertificates o f d e p o sit___
1 s t lie n e o u ip a fd g 5 s . .1921 M-S
1st lie n 50 y r g term 4 a .1954 J -J
D e t & Ch E x t 1st g 5 s . .1941 J - J
D es M o in D iv 1st g 4 s . .1 9 3 9 J -J
Om D iv 1st g 3*28............1941 A -O
T o l & Ch D iv la t g 4 s . i . 1941 M -S
St Chas B r id g e 1st g 6 s .1908 A-O
W a b P itts T e r m l a t g - 4 s .l 9 5 4 J -B
2d g o ld 4 a ............................1954 J -D
W a r r e n See D el B a c & W e s t
W asii C e n t See N or P a c
W a sh O & W See S ou th ern
W e s t M a ry la n d l a t g 4 s . ..1 9 5 2 A-O
G en & c o n y g 4 s ............. 1952 A-O
J
W e a t N Y<fc P a l a t g 5 s . . 1937
G e n g o ld 3 -4 s.....................1943 A-O
I n c o m e 5 s ........................ d l9 4 3 N ov
W e s t N o Car See S ou th R y
W V a C e n t <fc P 1st g 6 a ..1911 J - J
W lie e l’ g <fc B E 1 s t g 5 s . . .1 9 2 6 A -O
W h e e l B i v l a t g o ld 5 s . .1 9 2 8 J - J
E x te n & Im p g o ld 5 a . . . 1930 F-A
R R la t co n a o l 4 s ...............1949 M-S
20-year equii) s f 5a . ..1 9 2 2 J -J
W ilk e s & E a st See E r ie
W il & S io u x F See S t P M & M
W is C e n t 50-yr 1 s t g e n 4 s . 1949

U

81

........

»2*a 100
1 0 3 % ........

32*4
S2%
LOO** 100%
88
89
96*2 M a r’ 06
107*4 A u g ’ 06

80*4 92
99% 101**
88
97
96*2 97
107% 109%

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

109*2 M ar’ 05
107% 107%
llu
J a n ’05
108 A u g ’ 06

110

.......

8 7 * 2 ...........

102% .......

102
94% Salt
88*2 Sale

ioa‘
4 li’".
100 s a le
.......... 99 b
8 5 % ..........
105 ___
1 0 9 * 5 ____
104 108
105
102*2 106
109% 110
111
111%
94% 94 *1

111*2

i o i ” i ‘1 0 "

J a n ’ 03

94*2
94^
88*2
89
90 D e c ’ 06
109*2 F e b ’ 06
100
100
98 *s M ay’ 06
86
86
96 D e c ’ 06
i0 5 % Jan ’ 07
109 N o v ’ 06
1 0 6 14 J ’ly ’ 06
107*4 F e b ’ 05
104 A u g ’ 06
10934 J a n ’ 07
111 J a n ’ 07
94
94
116 D e c ’ 06

93 %
88
90
109*2
98*4
98%
85%
95
105
109
106

97%
96%
92
110
102%
98*8
89
99%
106
111%
108*4

103*2 105%
109*2 112*2
110% 115
93% 99*4
116 116

P rice
b'ridan
J a n 18

W eek's
js 2 :;
R a n ge o r |©.©I1
Last Sale i55"0 ;;

B id
A.sti Loio
H ia h )X o
123 V ,......... 127 S e p ’ 06 . . . .
114 ......... 116 N o v ’ 06l___
101 % N o v ’ OHj..
113 J a n ’ O l:___
100 .......
9!! A u g ’ O t f ....
86*2 Sale
86*4
8 6 % 13
102% 104. 106*2 D e c ’ O o L ...
........ 107 N o v ’0 6 ; .. . .
104
111
114 %
119
108%
103%

108 .
111%.
118% .
i ’0 3 % ;

A u g ’06
D e c ’ 04
J a n ’06
J ’l y ’05
J a n ’ 07

Lange
Year
lhOfi

,Low H i g h
|:27 127
116 118
;1 0 1 % 1 0 1 %
i 99 * 1(12%
; 85*2 90
il04% 106%
106% 107
jill

113%

i'l 9 *" i ’l’a "
ib’4% ib'5 %

111 *4 Jan ’ 06
111*4 111%
..........108
104 Sep ’ 06
104 110
113 H. 56 115 1 1 9 %
i ' l 2% 113*4 113
116 1 1 7 %
114 N o v ’06
92% 98 %
**93% '9 4
9 3%
93*-.115 119 *a
116
116
94*4 J a n ’07
94% !!9%
* 9 3 * 2 ........
113 113
111% ___ 113 Jan ’ 06
96
96%
93 ........
96 J ’ u c’ 06
90 ........
92
92
92 J ’n e ’ 06
93 ........
110 ....... 116*2 M ay’ 05
112% ....... 112% 112%
114*4 116
117
116 119%
116*2 117
113 ........ 112 O ct ’06
112 116 %
68 1 70
72*4 72%
68
69 *<
118 119
119% 123
117% J a n ’ 0<
122*4 122%
122% A p r ’ 06
112 ....... 111% 112
112% 116
1 0 9 * 2 ........ 112% Jan ’ 06
112% 1 12 %
87
......... 98 F e b ’ 05
1 0 6 % ........ 106
1 06 %
105 108%
112% ...... 112 O c t ’06
112 112
108 ........ 108*2 D e c ’ ou
i0 7 1 0 8 %
1 0 9 % ........ 113 D e c ’05
110% ...... . 111% D e c ’ 06
111% 114 %
110% ........ 109 % M ay’ 06
109% 1 14 %
94%
94\
9 4 Ji Sale
94% 94%
109% 109*2
111*8114%
117
100

90

J ’ l y ’ 00
N o v ’ 04

109 M ay’ 06
117 J a n ’ 07
93*2
93%
111 D e c ’ 06

1 0 8 * 8 ........
1 1 7 % ........
93*a . . . .
108 112

109 112
119 120 %
94% 100%
1 10 % 11 1

117*4 117V,
116 124
92 N o v ’ 06
85 102
110 M ar’ 06
lOS'^ H O
106% N o v ’04
111 *2115%
115 D e c ’ 06
111 M ay’04
.......... 110
106 109
102% ...... 102% 102%
97
97
96
97
9 5 \ 99%
8 9 % 93%
89
.......... 8 9 % 89
87 *2 J a n ’ 07
8 5 % ____
88*4 90
79% 84%
81%
82
81*a 82
95
95
95 D e c ’ 06
94 ........
112 D e c ’ 06
110 113%
1 0 8 34 112
93
94%
93 S ep ’ 06
101% 182 102*2 106%
101% Salo 101%
1 0 1 % 106%
100% Sale 100% 100 S
98
98
98*2 102
98 Sale
120 126
123 % S alt 123% 123%
115 119
113 113*2 112% J a n ’ 07
93*4 97%
93*2
94*4
94% Sale
94% 94 %
94% O ct ’ Ob
105 105 %
105 A u g ’ 06
102 .
110 110
110 J ’n e ’ 06
106%.
117

96

107*2.

102% 105
98
98

102% F e b ’ 06
98 Sep ’ 06

V

W

100

[vol. lxxxtv.

110
113
105*4
85

111*5 111 J a n ’ 07
113
113*2
114
Sale 105*4 105*4
95 N o v ’06
........

108 114%
112*4 119
104 1 0 »
87*2 98

76
76
71%
75
101 D e c ’ 06
93 AIar’ 06
83 .
108
108
108% .
97 N o r ’ 04
85 *2 M ay’06
93
95 *1 93 B e c ’ 06
102 J a n ’ 0'S
79*2
80
79*2 80
30% Sale
30
31
72
75
71% Sale

8 1 ’ 4 Sal*>
67 Sale
114 115*4
»U% 293 H.

110 % .......
10s

...........

110
87

...
88

83*4

81%
81^
66
67
116% D e c ’ Od
92% N o v ’o t
30 M a j’ Ob

72 %
74%
100

93
108

88%

89

93
111 *a
85%
95%

79"* " 9 0 S
32
41%

13

82% 8 S%
68
76%
114 118
92% 97%
30
31
106*2 109
109 % 114
110 112 %

1 0 6 % A u f’ ’ 0
109% D e c ’ Ob
110 D e c ’ Of
111% A u g ’ 05
37%
8 7 -.
102*4 D e c ’ 05

89

86%
75%

101

*8*6"* " 9_3 %

20

89

96

M lJ s C K B l^ A N E O U S B O N D S —C o n c lu d e d .
ftln .n u tn c(iiriiig & In d u s t r ia l
B eth S teel 1st e x t e f 5 s . . 1926 J -J
C en t L ea th er 20-year g oa.1925 A-O
C on sol T o b a c c o 5 0-yr g 4 s .1551 F -A
D is til S e c C or c o n v 1st g 5 s .’ 27 A -O
I n t P a p e r C o 1st con g 6 a .1918 F-A
C on s ol c o n y s f g 5a ........1935 J -J
I n t S t P u m p 10-yr c o n y . 6s ’ 13 J - J
K n ic b e r Ic e (C h ic ) 1st g 5 s . ’ 28 A -O
B a ck a w S teel la t g 5 s ___ 1923 A-O
N a t S tarch M fg C o 1 st g 6s 1920 M-N
N a t S ta rch C o s f d eb 5 s . .1 9 2 5 J - J
R e p u b I <£*8 l s t & c o l t r 5 s. 1934 A -O
U S L ea th C o s f d eb g 6 a ..l9 1 3 M-N
U S R e a lty i f c l c o n v d e b g 5 a ’ 24 J - J
U S S teel C orp— f c o u p .d l9 6 3 M-N
S f 10-60 y r 5 s . ( r e g . ^ 1 9 6 3 M-N
V a -C ar Chem c o l tr 5s g .,1 9 1 2 A -O
W estin g h ou sD E & M s 1 5a ’ 31 J - J
* No

9 1 % .......... 96 A u g ’ 06
98 *s Sale
98%
9 8 a4
7 8 % Sale
77
78H,
8 3 % s a le
88
88%
107 Sale 107
107*2
.......... 91
91
92
100 Jan ’ 07
99*4 101
. ....
97*2 O ct ’ 05
101* % Safe 1 0 1 % 102
82 Jan ’ 07
"75* . . . . . . 72% N o v ’06
95
97% 97
97
1 0 5 * 2 ......... 105 D e c ’ 06
94 Sale
93%
‘J 4
9 7% Sale
97%
98%
98 sa le
9 7 a4
9S*2
9 8 54 Sale
98%
98%
97
97 Sale
96

price F rid a y ; latest bid and asked thia w eek,




92
34
103
2
3
83
' "i
’ 30
1270
14
3
27

.U iM ce lla u e o u s
A d a m s E x c o l tr g 4 s ..........1948
A m D k ifc I m p 5 s See C e n t N J
A m S S C o o f W V a g 5 s -----1920
B ’k l ’n F e rry Co l a t c o n s g 5s ’ 48
C h ic J c ifc S t Y a rd c o l g 5 s .l 9 1 5
D et M & M Id g r in c o m e s .. 1911
H o b o k e n L & 1 g o ld 5 a ...1 9 1 0
M ad Sq G a rd e n 1st g 5 s . . 1919
... .
i b i % 108^4 M an B c h H & L g e n g 4 s . .1 9 4 0
80
93*2 N e w p N e S h ip & D D 5 s d l 9 9 0
72% 77
N Y D o ck 5 0 -y r l e t g 4 s . .1951
92% 93
P r o v id e n t L oa n S o c 4 % s .l 9 2 1
105 109*2 St J o s e p h S tk Y d s 1st 4 % s. 1930
90 % 99% S t B T e r C u pplea S tat’ n & P rop
C o 1s t g 4 %s 5-20 y e a r . . 1917
95»< 1 0 1 H
95% 100*4 S Y u b a W a t C o c o n g 6 s ..1 9 2 3
97 101*2 S p V a l W a t W o r k s 1st 6 a .l9 0 6
97
98% U S R e d & R e f l a t s f g 6 s . 1931
96
96%
76*2
81
105%
92
101

a D ue J a n

96
102 *2
83%
90
110%
100
104%

0 Due Feb

d Due A p r

«D ueM ay

M -s
M-N
F -A
J -J
A- O
M-N
M-N
M-N
J -J
F-A
M -S
J-J
J -B
J -J
M-S
....

j D u e J 'u e

102% Sale

943

95

h Due J ’ly

1C2

1023,

100%
41
108
70

J ’ n o ’ O:
O c t ’ Ot
j ’ne’o:
Sep ’ 0

50

F e b ’ o:

39 102
41

j> D ue N o r

58

6*9% " 78~

95
95
99 M ay’ 06
1 0 0 *2 S e p ’ 0 ‘
112 J ’ l y ’ 04
113% J’ l y ’ OO
95 Jan ’ 07

104%

98
V9

95

108

*Orrtton Sal«

CHICAGO STOCK EXCHANGE—Stock Record-Daily, Weekly and Yearly
S T O C K S — H 1 G H & S T A N D L O W E S T S A L E P H IO K S
S a tu rd a y
J a n 12

M on d a y
J a n 14

'1 6 0

•

*5
*154

5*2
17

*54
* lx
*62
♦So 4
*27
*70 4
*35
*25
*62

5>„
1S34
03 4
t-7 *a
27 4
71
4(>
26
65
90
33
97
29

*32
*97
*25

54
17
424

1*8**
63
85 4
27
70
35
25
62

■*1*84
63 V
874
V7 4
71
40
26 4
65
90
33
99
29

*5
*15 4
414
*5 4
- l '- ‘
0 3 14
*85 4
274
71
*35
*25
64 4
*89
33 4
*97
” 25

....

14
64
148

*1

*6

140

I**

64
148

* ........ 118
........1 1 6 4
107 Vi 107 ^ '1 0 7 4 107 s
12341233*
*4 7 4 4 «
>47
48

46

*274

i ’0’2 "
I 3*
74
28 4 >.........
14

65
*85 4
*27
71
*35
*25
*62

5*4 | L a s t
L a st
65
6*"
87
S04
28
27
704
71*4
40
L a st
264 L a st
65

40
5*4
: 9 'g
63 4
*85 4
27 4
71
40
25
*63
894
33
3 3 4 *32
*97
L a s t S a le 27

*32 4 34
*97 ........
*25
29

6
o4
54
544
130
130
1284 1 2 6 4 1 2 8 4
803g
80
80
109
....
'3 1
........
38
•37
38
110
'1 07
llo
53
*53
65

*1
*6
140

1 *8
64
146
143
48
115 ......... 115
107 4 1 0 7 4 107
123
124 124
48
*47
48

S a le
S a le
65
87
27
71
? a le
S a le

6*4
5*4
534 544
1264126 4
79 4 79 4
L a st S a le
L a s t S a le

14848
...........
107
12334
48

L a st
L a st
L a st
L a st

S a le
S a le
S a le
S a le

107
123
484
Las 1
L a st
L a st
L a st

107
1234
484
S a le
S a le
S a le
S a le

L a s t S a le
L a s t S a le
84 4 8 5 4
11741174

*55
58
91
9 3 34
1 1 2 4 113
135 137
io 2 4 101
1024
1*4
14
1*4
74
74
7« b
’ ......... 29
29

5s
*55
94
94
11 2 34 113 4
135 137
102 l 0 2 34
14
14
74
7=8
29

*55
58
9 3 7s 94
111*4 1 1 2 4

8

1 8 34
634
87 S
2734
72
40
204
644
.........
34
984
29

85
85 4
117*4 117*4
*80
844
11741174

*55
58
94
94
l l l l s 111*4
*1 3 5 137
1 >4

5 4 ' L a s 1 S a l e '5
1641 L a s t S a l * 10

85
86
11741174
♦80
85
*117 1 1 7 4

85
86
1164117
81
83
117 117

1'riday
J a n it

-5
*15

64
17
414

46

84
84i
117 117
-8 3 4 85
*116 117

8

T h u rsd a y
J a n 17

L a s t S a lc \ 1 4 0

6 7„
6
6
54
54 4 54 4
'1 3 0 ......... 130
*129
*126*5 123*5 * 1 2 6 4 1 2 8 4 1 2 8 4
80
79
804
109
109 109
*31
........
*31
*31 ........
•37
38
*37
38
38
*107 110
*107 110
'1 0 7
63
* 6 3 4 65
♦S3 4 55
*1
■'6
*144

W ed n esaay
J a n 16

180

*5
154
42

32
97
25

F u ts d a y
J a n 15

120 r _ o
L a st s a le
L a s t S a le
554 554
94
94
1124113
135 136
14
7*8

14
7*(,

L a st
L a st
L a st
L a st
L a st
L a st
L a st
"L a st

S a le
S a lt
S a le
sa le
S a le
S a le
S a le
Sa le

R a ilr o a d s
O c t ’ 06 Cliic C ity B y ............... 100
C h ic P ass K y ...............
D e c ’ 06 C h ic * O ak P a r k ........100
D e c ’ 06
D o p r e f .................100
4 1 4 C h ica go S u b w a y ........100
Jan *07 G lue U n io n T r a c t ___ 100
J a n ’ 07
D o p r e f .................100
65
K ans C ity K y
Lt, ..1 0 0
D o p r e f .................100
87 4
27 4 M e tro p o l W is K ie v .. 100
71
D o p r e f.................100
Jan ’ 0 N o rth C liic S t r e e t ___ 100
J a n ’ O N o rth w e s te r n E l e v . .l 0 0
65
Do p r e f.................100
89 4 S ou th Side K ie v ......... 100
33
S tr e e ts W S table C L 100
99
D o p r e f .................100
J a n ’ 07 W e s t C h ic s t r e e t ........100

liO N O .^
C H IC A G O ST O C K E X C H ’G t
W rkk E nding J a n 13

P r ic e
F r id a y
Jan 18
B id

A m e r B is c u n 6 s .................1910 F-A
A m e r tetraw board 1st Os ..1 9 1 1 J - J
Cass A v e <fc F l i ( S t L ) 5s. 1912 J - J
C h ic B oard o f T ra d e 4s ...1 9 2 7 J -D
C lu e C on sol B r tte M lt O s ........... J
C h ic C on sol T r a c 4 4 s ........1939 J-D
C h ic E d ison d e b e n t 6 s ___ 1913 J-J
1 st g o ld 5 s ...................... /U 9 2 6 A - 0
C h ic A u d ito r iu m 1st 6 s . .. 1929 F -A
C h ic D o ck Co 1st i s ........... 1929 IA -O
C h ic N o ^ h ore E le c 6 s ___ 1912 ! a - o
C h i c * M il E le c B y 5 s ___ 1919 J -J
C h ic P n eu m T o o l 1st 5s .a l9 2 1 J - J
C h ic B o c k I <fc P a c B R 4 s .2002 M-N
C olla t T r u s t g 5 s ............. 1913 M -S
C om m on w ea lth E le c t 5 s .51943 M-S
I llin o is T u n n e l 5 s ............. 1928 J . D
K a n s O ily B y & l it C o 5 s. 1913 M-N
K n ic k e r b c k e r I c e 1st 5 s . 1928 A-O
L a k e S treet E l 1st 5 s ........1928 J -J
I n c o m e 5 s .......................... 1925 F e b
M e tr W Side E i 1st 4 s -----1938 F A
E x te n s io n g 48.................1938 .T-J
N o r t h C h ic St 1st 5 s ..........1909 J - J
1 st 5 s ................................... 1910 J - J
R e fu n d in g g 4 4 s ........... 1931 A -0
N o C h ic C ity B y 4 4 s ...1 9 2 7 M-N
N o r t h W e s t’ 11 E l 1st 4 s . ..1 9 1 1 M-S
O gd en G as 5 s ...................... 1945 M-N
P e a rs o n s -T a ft 5 s .................1916 J -D
4-40.S........................................... . M-S
4 '6 0 s .Series E ............................ M-N
4-80s S eries F ............................ M-N
P e o p le 's G as L & O 1st 6 s . 1943 A-O
R e fu n d in g g 5 s ...............1947 M-S
C h ic G as L t >k C 1st 5 s . .1 9 3 7 J - J
C on s u m ers ’ G as 1st 5 s .. 1936 J -D
M u tu al F u e l G as 1st 5 s. 1947 M-N
S ou th Side E le v 4 4 s ..........1924 J - J
8 w u t & Co 1st g 5 s ........... 1914 J -J
U n ion E l (L o o p ) 5 s ........... 1945 A -O
U n io n P a citic eon v 4 s ___ 1911 M-N
U n ite d B ox B oa rd 6 s .................
W e s t Clue S t 1st 5 s ........... 1928 M-N
T u n n e l 1st 6 s .................... 1909 F-A
D eb en tB s .
1914 J - D
C on sol g 5 s . . . . . ...............1930 M-N
W e s t D iv C ity R y 4 4 s . . 1932 J -J
W e s t ’ rn s t o n e C o 5 s ........190y A - 0

5 78
36
29\
10
18*4
4
85 4
7 ‘e

M in in g
M a r’ 00 A d v e n tu r e C o n ......... 25
M ar’ 06 A l l o u e z .......................... 25
J ’n e ’Oo B in g h a m C on M in in g 50
N o v ’ 00 B ia ck M o u n ta in ___ . . .
J a n ’ 07 D a iy -W e s t .................... 20
N o v ’ 06 H u b b a r d - E llio t t ...............
F e b ’ 06 N o B u t t e ........................ 15
J ’ n e ’OO Sha n n on . .................... 10

Jiange
fo r y e a r
190 6

H ig h No. Low JJigh

9 9 4 ......... 9 9 7s, M ay’ OO].
1 0 1 4 Sale 1 0 1 ^
10f4|
................... 101 M a r’ O c1.
................... 103 A p r ’ 04;.
.....................| 57 D e c ’06!.....................1IO114 N o v ’ oOl.
*101 Sale ;101
101 I
......... l o o i 9 b 34 Jan ’ 00 .
98
.........................
.’ ! ! " ! ......... I" 87 F e b ’ OOL
77
79
80
102 4 Sale 102 4
90
* ......... 89
98 ......... 98
99 4
91 Sale
90 4
16
90 4
90 4 Sale
81
8 4 4 Sale
90
79 4 Sale

* .........
90\
92
*100
97
98
09

75
Sale
.........

.......

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

I " ” ', i'0'3 "
104 4

...

102

Sale

ibo

Sa it

......... 102
........

994

*73*’
..........

75"
95

*87

9 9 78 1 0 0 34
lOlSg 1 0 3 4
101 101
’ 66*" ” 5 7 ”

100 4 1 0 4
1004 103*4
9634 96*4
87

79 . 59
N o v ’ 04
A p r ’ 04
102 s
1*
D e c ’ 06
as
14
N o v ’ 06
i*2^ 12
M ay’ 05
9 0 78
4
8 4 4 23
D e c ’ 06

79 A u g ’06
77 D ec ’00
904
904
92 J a n ’ 07
100 4 M a i’ 06
97 D e c ’ 06
99 O ct ’ 06
99 4 Sep *06
118 N o v ’ 06
102 4 J a n ’ 1>7
104^8 104=8
10 J
lo *
103 4 F e b ’ 06
99*t
100
102 J a n ’ 07
99
99
114 N o r ’04
72 4
75
95 D e c ’ 06
68 4 S ep ’ 05
72 4 D e c ’ 06
72
74
87 D e c >06
96 4 Ja n ’ Oti

6 J ’ ne28
51 J ’l y 13
115 F e b 9
128 4 D e c 3
54 Jau 13
101 J a n 11
17 F e b 28
36 J a n 23
106 Wet 1
55 M ay 2 6
leS S g M a ylS
16 F e b l a
1 M ar 6
6 N o v l4
136 J ’ly 31
48 4 D e c 24
l o l A p r2 7
103 M ay 3
118 J ’ n e 6
4 1 4 Sep 1

Ui<) hest

Jan

180

Jan

7 j4 Jan 1
2 8 ^ Jan
60 M a y l
1 3 4 Hen 20
46 4 M a r l
6S >.j F eb '
9 3 4 F eb 8
30 J ’n e 8
72 4 N o v 3
85 M a r l 2
2 8 4 F e b 23
68 4 M ar
99 J ’ n e 9
3 5 :,4 N ov 12
102 J ’n e U
60 F e b 19

7-4 Jan
4 J ’ ly
16 J ’ly 28 D eo
40 O ct S7'>4 A u c
6 4 J ’ ne 13 4 F e b
r’ett
26 J ’ ly 51
30 .Tan 60 Sep
.sep
82 4-Jau '
20 Jan 2i> 4 O ct
59 4 Jan 7 3 4 SepF eb
55 J ’ly 99
21 May 26 Dec.
60 M ar 68 O ct
9 0 4 May 100 A u g
27 A u g 30 s e p
97 D ec 103 4 M ar
40 J ’ u< 72 Feb-

1178 Jan 20
72 Jan 25
130 N ov
136 Jan 17
81 N o v 5
112 N o v 2 3
3 i 4 D eo 19
40 F eb 6
113 4 J ’n e 2
64 Keb 6
175 M ay31
16 4 F e b 2 3
1 M ar 6
7 J a n 16
165 F e b 15
63 F e b 9
139 Jan 15
118 J a n 9
147 F eb
7 1 34 J a n 23

8*4 D ec 1 4 4 A p r
60 Jan 7 3 4 A p r
76 Jan 110 D e c
125 F e b 134 D e c
38 Jan 5 9 34 Sep
9 8 4 Jan 105 4 M ar

79 7g F e b 23

80

O ct 40
M ar 112
J’ l
70
F e 150
10 Jari 10
*4 J ’ ne
I
7
6 J ’ne
153 Jan 172
32 J an 5 8 4
125 M ay 1 4 3 4
95 A p r 118
134 4 F e b 145
55 J ’ ne 67
11 F e b 42
F e b 28 63 F e b 75
35
105
50
148 4

Jan
Aug
O ct
M ar
Jan
Jru
Jan
F eb
D ec
F eb
D ec
Aug
N ov
N ot
O ct

46 M ay 2 2 48 Sep 25 44 4 M ar 4-S 4 A ug
2 4 O ct
2 4 F eb 3
2 Jan
134 M ay29
21 J ’ ne29 23 M ar 7 19 Sep 23 O ct
62 M ay 2 79 4 D e c 17 5 2 34 A u g 6 7 34 D eo
1 1 3 4 J a n 4 119 O ct 24 110a4 Aug, 1 2 0 4 Mas78 J a n 5 95 M ar 3 41 Jan 8 0 4 D eo
112 D e c 14 122 V2 M ar 9 110 Jan 12U J ’ no
5 '-’4 M ay
5 Apr*
99=8 May 11034 A p r
*8*3*78 P ly 10 93 4 M a y l 7
50 A u g 2 6 3 4 D e c 6
92 4 N ov H 99 Sep in
1 0 1 4 J a n 17 119 4 Sep 27 101 D e c 114 J a n
115 M a y l6 1 5 2 4 Jan 5 46 J a n 165 D e c
99 4 D e c 6 106*4 F e b 15 8 6 4 Jan 109 4 N o v
2 4 Apr
2 34 Jau 12
*4 D e c 21
1 *8 J ’ly
5 4 D e c 28 1 7 4 Jan 20
8 A u g 16 D e c
23 Febr 41 A u g
28 D e c 26 42 M ar27
534 M ar 7
3 6 4 M ar 7
2 9 ^ J ’ nelO
7 34 J ’ly 14
1 4 4 M ar 7
3 4 J ’l y 26
8 6 4 F e b 23
6 F e b 24

6 34 F e b 26
3 6 4 M ar 7
4 4 34 F e b 2 1;
1 4 4 M a r 29
2 0 5e N o v 5
4% O ct 2
8 5 4 F eb 23
7 78 J ’ n e l 6

Chicago Banks and Trust Comoanies

W eek's
Jiange or
L a st S a le

A s k Low

Sep 28 200

5 D e c 31
15 D e c 6
3:l34 J ’ly 13
4 J ’l y 12
12 4 M ay 18
675 5 4 4 Jan 2
50 8 > O ct 31
56< 25 O ct 30
4<J2 65 4 O ct 23
25 M a rl4
23 4 J ’ly 24
100 60 M ay 2 3
1 89 4 A p r3 0
295 27 M ay] 8
21 97 D e c 26
23 A p r 10

M is c e l la n e o u s
745
5 4 A m e r ic a n C a n ............. 100
D o p r e f--------------100 1,239
544
10
A m e r R a d ia to r .......... 100
150
D o p r e f .................100
79
A in e r S h ip o ld g ............100 1,107
40
1084
D o pref. .1............100
J an ’ 07 A m e r S traw B o a r d ..........
38
Booth (A ) & C o ......... 100
J a n ’ 07
D o p r e f.................100
53 Cal & C h ic C anal <fe D 100
M ay’06 C en tral T r u s t B a n k . .1 0 0
M a r’ 06 C h ica go A u d ito r iu m ........
J a n ’ o7 C h ic B r e w ’ g<& M a lt’ g . . .
J a n ’ 07
D o p r e f ......................
143 C h ic E d is o n .................100
31
49 C h ic P n e u m a tic T o o l. 100
10
4
1 1 5 4 C h ic T e l e p h o n e ......... 100
107
27 5
C h ic T it le & T r u s t . .. 100
365
122 4 D iam on d M a tc h ..........100
48
228
I llin o is B r ic k ............. 100
N o v ’ 05 K n ic k e r b o c k e r I c e . ..1 0 0
F e b ’ 00
D o p r e f .................100
J ’n e ’04 L o n d o n tfc C h ic C o n tr___
D e c ’04 -M anufacturers’ F u e l........
10
50
M a son ic T e m p l e ...............
J"’ ly ’ 06 M il& C h ic B r e w ’ g ...........
Sep ’ 00
D o p r e f ........................
8 1 4 N a tion a l B is c u it ........100 2,382
114
117
D o p r e t .................100
246
84
N a tion a l C a r b o n ........100
100
120
D o p r e f .................100
M ay’ 05 P a ge W o W ire F e n c e ___
J ’l y ’ 00 P e o p le ’ s G as L & C ’ kelOO
57 S ears B o e b u c k c o m .1 0 0
25
95
38U
1)0
p r e t................. 100
112=8 S w ift & C o .....................100 2,124
100
136 T h e Q u aker O ats C o. 100
103
368
Do p r e f .................100
1 4 U n it’ d B o x B d d i P ColOO 1,468
890
7 a«
D o p r e f .................100
60
25 4 W e s te rn S t o n e ............100

Chicago Bond Eecord

H ig h es t

140

54
62 4
*130
*1264
79
*107
30
*37
109
53
175
16
I
6
asl43
*48
1154
103 4
122 4
48
31 4
80
17
y
*46
•Z7s
32
844
•116
84
*117
5*4
y.9 4
*55
93 4
111*4
*130
*102
14
74
254

fia n ge 1o r P n -n o u s
Year ( 1 9 0 5 )

Jiange fo r Y ea r
190 6

S ales
oj the
W eek
Shares

STOCKS
C H IC A G O ST O C K
EXCH ANGE

80

90

ib*2*4 i*0*5*7fi
87
95
9 7 34 100 4
99 100
95 100

9 0 7s 95
89
84
90
90
79
924
74 89*4 9 4 34
89 100 4
100 4 1 0 0 4
97
y u 78
99 100
99 4 loO
118 120
I0 1 7a 1 0 5 7e
1 0 1 4 108
103 4 105 7t
103 4 103 4
1004105
1 0 1 4 IO314
100 1 0 5 4

N o t e .—A c c r u e d in te re e tm u s jt be added to all C h ic a g o b o n d

6*5*’ *77 4
7 2 4 1004
*6*6" *85 *

65

8434

85
964

954
964

p r ic e s .

NAM E

O utstand­ S u rp lu s if
ing
Pro/Its t
Stock t

B a n k ers N a t io n a l ........ $2 ,000,000
C a lu m et N a tio n a l.........
100,000
500.000
C h ica g o C it y ...................
C om m ercia l N a t io n a l.. 02,000,000
C on tin en tal N a tio n a l.. 4.000.000
50.000
C ook C o S tate S a v in g s
C orn E x c h a n g e N a t .. . 3.000.00<i
200.000
D re x e l S ta te .'.................
600,000
D ro v e r s D ep N ation a l
200,000
E n g le w o o d S ta le ..
500.000
F ed era l N a t io n a l...
8.000.000
F irst N a t io n a l ......... .
100.000
F ir s t N a t E n g le w o o d ..
F orem an B r o s B ’ k ’ g Co
500.000
F o r t D e a rb o rn N a t ___ 1,000,000
H am ilton N a t io n a l___
500 .000
H ib e r n ia n B ’ k ’ g A s s ’n 1,000,000
K asp ar S tate B a u k ___
200.000
200,000
.Monroe N a t io n a l.........
M u tu a l B a n k ................
250.000
N a i B a n k of R e p u b lic . 2 000,000
N a tio n a l L iv e S t o c k ... 1,000,000
N o rth Side S tate S av
50.000
100.000
O akland N a tio n a l___
P ra irie N a tio n a l........
250.000
P rairie S ta te ...................
C500.000
P u llm a n L oa n & S a v ..
300 .000
R a i-w a y E x c h a n g e ___
250.000
200.000
S ou th C h ica g o S a v in g s
State B a u k o f C h ica g o . 1,000,000
S to c k Y a rd s S a v in g s ..
250.000
U n io n B a n k o f C h icago
200.000
U n ion S t o c k Y ds S ta le
200 ,000
A m e r T r u s t & S a v g s .. 3.000.000
C en tral T r u s t C o o f 111 2.000.000
C h ica g o S a v B k & T r . . n 500,000
C o lo n ia l T r u s t & S a v . .
000,000
D ro v e r s T r u s t & S a v ..
200,000
F ir s t T r u s t & S a v in g s £ 1,000,000
Illin o is T r u s t <fc S a v .. 5 .0 0 0 000
200 ,000
K e n w o o d T r & S a v in g s
L a k e V i e w T r <fc S a v ..
200,000
M e r ch a n ts ’ L ’ n & T r Co 3.000.000
750.000
M e tr o p o lita n T r & Sav
N o rth e r n T r u s t Co B k 1.500.000
200.000
P e o p le s T r u s t & S a v ..
500 .000
B c y a l T r u s t C o .............
200.000
S to c k m e n ’s T r & S a v m
U n io n T r u s t C o ............. 1.000.000
W e s te rn T r u s t & S a v . 1 000,000
200,000
W S i d e T r & S av B k ..
200,000
W o o d la w n Tr<fcSav B k

,

,

1.9 7 ii,6 l I
2,377,06c
4 ,9 8 :
4,195,SuJ
27,215
325,704
29,804

D iv id en d
In
1905

In
19u6

8
5
10
12
8
6
12
6
8

8
5
10
12
8
6
12
6
8
3
B eg an bu sin
12
1|12
10
10+10
P r iv ate Ba
6
6
....
8
10

135,003
642,324
318,185
175,435
1,086,815
80,388
20,13
77,421 . . . .
1,0r<4,7.'3
6
1,327,471 1 2 + 3
8.44 i
6
3 o ,3 6 i
6
66,379
119,323 ‘ *8*
213,587
8
3.045 B e g a n
58,7 3 0
4
897,037
S
147,573 N o n e
34,430 Began
43,391 N o n e
2,374,525
8
949.154
54
n 86,307
634,995 5 + 5
6
83,235
1,533,392
7,403,522 12 + 4
33,766 . . . .
■.:2,i67 O rg a
3,982,435
12
319,124
6
1,723,236
8
50,609
514,336
*6
8,6 7 3 I n c o r
825 ,465
283,751 **6*
18,553 B eg an
22.762 . . . .

’ *3*
....
6
12+3
6
6
w $
8
bu sin
5
8

R ecord

P er­
iod
'■i- J
J -J
J -J
Q -J
Q -J
Q-J
Q -J
Q -J
Q -J
Q -J
ess
Q-J
Q-J
11k
Q-J
F -A
Q -J

L a st P a id
%
D ec
Dec
Ian
Jan.
Jan
Jan
Jan
Jan
Jan
Jan
U ct
Jan
Jan

Jan *07, 1 4
Feb
24
Jan •07, a

Q-iH N«rr
Jan
Jan
Jan
Jan
Jan

*06,
*07,
’ 07,
’07,
’ 07,
’07,

j‘^-J
Q-J
ess
Q -J
IQ-J

r0*7'.* 2c*
’07. 2
3, 1903
’ 07, 1 4
’06, 1 4

Q -j
Q -J
Q-J
Q -J

Jan
Jan
J u ly
Jan
D eo

M a y l , 19<> 5.
Q -J !lan
6
Q -J Jan
8
7
Q -J Jan
*io
6
12+4

....

’ C6, 2
’06. 6
'0 7 , 5
’07, 3
’ 07, 2
’ 07, l i *
’ 07, 3
'0 7 , 1 4
’ 07,
*07, 1 4
16. 1905
'0 7 , 3
’ 07, 2 4

Q -J Jan
Q -J o a n

’ 07, 1 4
’0 7 , 2
’07, 1*4
"’6*7, 2 4
’07, 1 4

" b" Jan ’ 07."
Jan ’ 07.
1 8 ,1 9 0 6 .
Jan ’07.
Deo ’06,
J a n ’07,

Dized N ov
12
N -J
[q - j
6
8
Q -J

1
4Vv
14
3
14
14

3"
14
3
14
2

Q -F N o v ’ 6*8," "0 "*
**8
p o ra te d M arch 1905
6 + 1 Q -J Jan
busin eas Bfrp
6
Q -J J an

’0*7*.*
5, 1605
’07, 1 4

II
D iv id en d s a rc paid Q -J, w ith e x tr a p ay m en ts Q -F.
U in c lu d e s s p e cia l d iv id e n d o f 3 0 ^ p aid D e c. 18, 1906.
t N o v . 12, ’ 06 fo r N a tio n a l B a n k s
an d N o v . 13, ’ OG fo r S tate in stitu tio n s
* Bid an d asked p r ice s ; n o sales w e re m ade on th is day.
t N o p r ice F rid a y; la te st p r ice this w eek .
a D ae D eo.
31. b 1>ue J un*. c C apital in cre a se d Jan . 1 1 9 0 7 fro m $ 2 5 0 ,0 0 0 , a cash d iv id e n d o f 30 p e r c e n t b e in g d e cla re d an d to b e ta k e n as p a r t p a y m e n t fo r n e w stock .,
A D n o J u ly ,
O n e m illio n d olla rs tra n sfe rre d in D e c, 1906 fro m su rp lu s a c c o u n t to ca p ita l, m a k in g la tte r $ 2 ,000,000 .
m F o r m e r ly L iv e S to c k T r u s t A
S a v in g s B a n k , b u t nam e ch a n g e d in Sept. 1906.—S ee V . 83, p. 729. n C apital and su rp lu s t o b e in crea sed . 0 C apital to b e in c re a s e d to $3 ,0 0 0 ,0 0 0 .




BOSTON STOCK E X O E ^ E -S to c k Tteoord, Daily. Weekly and Yearly
S h a r e P r i c e s — N ot P e r C e n tu m P r i c e s
S a tu r d a y
J a n 11

M onday
J a n 14

T u esd a y
J a n 15

W ed n esd ay
J a n 16

*106*2
•101k
*
*151*”
*230
* ...

* 1 0 6 k 1 0 6 k *107 107 k ' 1 0 5 k
* 1 0 0 k l 0 l k *100*2 101 s * 1 0 0 k
236 237
225 228
230
150 151
*150 152
161
*230
*230
. . . . . . 230 230
i*6*i" 1 6 0 k 160 S 160 160 k 160

*298

300
27
SO

*

10634
102 k
237
152

*29t> .
26k 26k
80

134
*105

1*60*4

299 *2 299 *2 •298 300
25
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F r id a y
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ST O U tfJS
BO STON STOCK
EXCHANGE

Sales
ot the
Wee A
S h ort &

K a n y e io r Y ear
1906
Lowest

I

Mightn't

Uanae ’ o r / -leciu u t
yea r( ly o o j
Lowest

j H igh est

R a ilr o a d s
i o 8 6 k J i y 12 ;110 k Sep 11 7 7 k Maj \ 9 3 k M a r
*105 *4 105 S 104*4 104 'a A tch T o p ifc San ta F e lO t !
D o p r e t............... 101
5 *97 k D ec 27 llO S'w Jan o 99 k Jan 110 5 k b ep
* 1 0 0 k 1 0 1 k 100 4; l o o k
230
230
B oston & A i b a n y ... .1 0 0
2 2 " i239 D ec C 2 5 7 k F e b :9 125 5 D ec 261 A p r
230
230
151
151
B oston E le v a te d ___ .1 0 0
140 114/ A u glO 160 Jan !• . 5 i No\ 158 k A p r
*150
152
230 230
B oston & L o w e ll___ .100
63 230 D ec 2] 1246 k A p r 2 X241 Ma\ 249 M ar
230
230
160
B oston & M ain e
100
160 160
160
28* 160 D e c 1( 1 8 0 k A p r 2 170 D ec 185 k M ar
L a s t S a l e 165
D o D ref________ 100
164 O ct 10 1 7 5 k May 4 i71 Jan L7 5 A pr
J a n ’ 07
30 299 k D e c _0 314 *2 A p r2 4 iOo J an 311 D ec
3 JO B oston <fc P r o v id e n c e 100
299 k 299 k
25
25
"ii"
25
B o s to n & W o r E le c C o ___ 1,22 j 25 Jan 17 3 9 k A p r 7 13 k Jan 35 M ar
L a s t S a l e 78
D o p r e f ...............
72 k Jan 16 90 A p r 7 63 k Jau 82 k A p r
J a n ’ 07
C h icJ u n cR v < & U S Y 1 00
I 156 O ct 27 182 Jau 12 150 Jan 182 M ar
160 160
D o p r e f ............... 100
5 117 k J ’ly 26 127 Jan 16 123 No\ 132 F eb
M o n t O lass A 11)0
L a s t S a it 187
^ o v ’Ofi Con
18 7 k N o v b 190 M ar24 186 Jan 189k M ar
C onn Xr. Pass R iv n r R f 100
L a s t S a l e 158
i5 S O ct 27 163 A p r 6 L 60k Jan 167 A u g
L a s t S a l e 280
2 •'5 O ct 1 298 A p r 2 285 Jan 5o 6 A u g
Jan *07 C o n n e c tic u t R i v e r .. 100
133 134
F itc h b u r g p r e f .......... 100
132
132
129 132 O ct 27 145 J a n 3o 141 D ec 148 M ar
L a s t S a l e IIO
J a n 0 / G a R y & E l e c t r ic ... 100 ____ 95 o an 8 107 A p r 27 59 k Jan 92 O ct
L a s t S a l e 90
100
wy D e c A 95 Jan 2 S6 Jau 96 N ov
D e c ’ 06
D o p r e f _____
L a s t S a l e l\t8
Jan *07 M aine C e n tr a l......... 100
197 M ar27 2 0 J ' D e c 19 175 Jau 192 D ee
19
*19
19k
19
Mass E le c t r ic C o s ... 100 i ‘, 6 'io 17 J a n 5 23 J ’ no 8 13 O ct 23 A p r
68
D o p r e f ............... 100 1,125 59 k Jan 2 75 J ’ne 8 55 Xo^ 70 k M ar
6 8 k 69
1>S\
L a st S a le
21®* A u g22 23*4 D e c 14
1 9 k M aj 2 5 k D eo
J an ’ 07 M e x ica n C e n tr a l___ 100 ......
74U 190 J ’l y l l •207k J a n 27 (1192*^ D ec 215 k Sep
185 185
184k
185*4 X Y N 11 (i; H a r t . . . 100
1 00
L a s t S a l e 160
155 Sep 2 i 163 F e b 7 161 O ct 167 k M ay
Jan ’ 07 N o rth e rn V H
L a s t S a l e ■J28
A u g ’Ob Vorw ir.h As. W eir nrfiflOO
228 J ’ ly 12 233 k Mat 10 232 Jan 233 M ay
31 198 D e c 26 210 * Jan 15 205 k Jan 212 A p r
198
*198 19J
198 O ld C o lo n y ................. 100
300 53 Sep 2 i 53 k O ct 1 79 Jan 102 F eb
........ ........... . . . . . .
P e te M a r q u e tte ........ 100
1 50 J a n 15 65 O ct 11 5 2 k D ec 87 F eb
100
57
D o pret
*67*'
io o
L a s t S a le 50
47 k N o v b 6-4 J an 4 60 A p r 72 Jan
N o v ’06 R u tlan d pref
65 Jan 1C yy O ct 2 50 JaD 67 k Aug
L a s t S a l e 97
100
D e c ’ 06 Seattle E le c t r ic
10 95 Jan l t 106 F e b 20 93 k Jan 102 Sep
*100
*100 102
102
D o p r e f ............... 100
*179*8 1 7 9 k 178 k
179 k U n io n P a c ific ........... 100 1,005 139 k May 2 195 Sep 4 113 Jan 151 k D eo
5 91 M ay 3 9 9 k J a n 2 95 Sep 1 0 1 k F eb
*92 k 9 3 k
*92k
D o p r e f ............... 100
93 k
170 Sep 2-i 178 A p r 4 172 J an 1“ 0 O ct
L a s t S a l e 171
D e c ’ Ot V e rm o n t «fc A la s s ... 100
76 92 D e c 21 101 Jan 2 93 Jan 102 Sep
91
91
50
91
W e s t E nd S t .............
90 k
214 107 Sep 1 1 1 6 k A p r 9 110 D ec 1 1 7 k A p r
*107
107 103
108
D o p r e f ............... 50
25*4 M ay 9 2 7 k O ct £■ 2 1 k Jan 31 ^ Sep
L a s t S a le 2 ? k
O ct ’Ot W isc o n s in C e n tr a l.. 100
L a s t S a I e 60
O ct ’ 05
D o p r e t .. . . . . . . . 100
60 ^ bep
y 150 F e b 5 1 5 0 k F e b 16 116 * MaT 151 N o v
W oxc X a s li & K o ch . 100
M is c e l la n e o u s
Amflr A <r-nr*.nl
i <1(1
24
370 21 J ’ly 12 34 Jan 27 19 k J an 2c* *8 A p r
24
23 k 2 4 k
72 90 D e c 22 102 Jan 26 86 Jan 9 6 k Sep
92
92
Do p r e f ............... 100
*12*4 A m er P n e u S et v ___
4 k A p t 15 D eo
1 2 k 13
50 2,70i- 10 k D e c 31 29 M ar21
* * iik
31
31
31
D o p r e f ............... 50 1,457 26 A u g 9 46 A p r 2 20 Jan 36 k D eo
30 k
133
134
132 k
133 k A m e r S u g a r R e l i n ... 100 1,098 128 M a} 2 1 5 6 k J a n 8 130*4 M a) 1 5 1 k D eo
‘ ISO 133
109 130 D e c 14 141 J a n 23 132 M aj 140 k A u g
1 3 0 k 131
D o D ref...........
100
128
127 130
129
A m e r T e le n & T e le e .1 0 0 7,678 128 J ’ly 10 144 k J a n 17 1 3 0 k D e c 148 J a n
*33
A m e r W o o le n ............. 100
150 28 N o v 12 4 7 k Jan 24 21 Jan 47 N o v
* 3 3 k 31
34
101
D o p r e f ................. 100 2,116 1 0 9 k D e c 29 1 1 0 k F eb 2 9 2 k Jan 109 M ar
101 1 0 1 k l o o k
B o sto n Land
11I
4 k J ’n e 7
10
3 k M ai
3 k J a n 11
4 k J ’ ne
* i i ‘6 ‘ ' .*“ .*.*.* i io * *
1*1*6“ C u m b e rl T e le p & Tel* 100
92 115 J ’ly 30 1 1 8 k M a r l2 116 A u g 124 Jan
2 l k N o v 2 3 31 A p r 3 17 Jan ‘2 8 D e c
L a s t S a l e 34*4
J a n ’ 07 D o m in io n I r o n <fc St
5 k J ’ly
r ,2*3*6
5 k J an 31 10 A u g 3
7 k Jan
8k
8k
8k
8 k E ast B o s to n L a n d ___
228
E d iso n E le c I l i u m . .. i o o
228 228
228
64 225 D e c 1 250 Jan 13 239 D ec 257 A p r
205 157 D e c 26 184 O ct !• 169 k Mav 191 Jan
157 k 1 5 8 k 1 5 7 k 158 k G e n e ra l E le c t r ic ____ 100
65 k
6 6 k M ass’ ch.u settsG asC o3l00 18,385 4 4 May 3 6 1 k J ’ne 18 3 8 k Jan 5 1 k A u g
65 k 66 S
D o p r e f ................. 100
916 84 k D e c 8 90 Sep 14 80*4 Jan « 8 k May
85 k 85 k
85 k
85k
202
M e rg e n th a le r L in o .. 100
41 190 M ar23 •210 D e c 7 ilS o k J ’ ne 206 A p r
2 0 1 k 2 0 1 k *200
1 Feb II 3 k D ec
5 k Sep 17
L a s t S a le 4 k
3 Jan 2
D e c ’ 06 M e x ica n T e le p h o n e .. 10
27 M ar26 66 N ov 2 2 25 N ov 27 k D ec
L a s t S a l t 55
J a n ’ 07 X E C o tto n Y a r n . . . . 100
D o p r e f ...........
88
88
100 ’ **3*7 8 0 M ar 2 6 90 *4 N ov 24 80 N ov 8 6 k N o v
121
1*2*1**’ N E T e le p h o n e ........... 100
*..........123
43 126 D e c 2 6 141k. A p r 6 131 D e c 140*4 A p r
Li cls t S a l e
1 F eb
2 k J an
K o v ’06 Plant,r!om t.’ ar.Htlr n/\rv»l nn
k N ov 12 l l ie Ja n 15
L a s t h a l t Z^*4
10 Jan 17 Jan
Sep '05
D o p r e f ................. 100
171
172 175
P u llm a n C o ................... 100 ’ *8*9*2 180 D e c 24 2 6 3 k N o v 8 230 Ma) 258 O ct
172
10 !4 11
8 k Jan 1 0 k F eb
'1 0 k
R e e c e B u tto n -H o le .. 10
46
9 k J an 11 11 D e c 10
* H 2 k 113
112
254 10 l k J ’ne22 120 Sep 26 100 D e c 114 Jau
112 k S w ift & C o............... " 100
18 J ’ly 23 Jan
*22
22 k *22
10 22 '4 D ec 5 23 F e b 13
22 k T o rrin g to n C lass A . . 25
L a s t S a l e 27 k
D o p r e f ................. 25
25 J ’ ly 28 2 7 k X o v 5 25 M a) 27 A u g
D e c ’ 06
6
4 k Aug
2 k May
U n io n C op L ’ d <fc M g . 25 ‘ *8*2*9
2 J ’n e ll
5kD ec31
4k
4k
5
106
U n ite d F r u it ............... 100 1,000 103 k M ay 2 1 1 3 k M a y l7 103 A p t 115 F e b
1 0 6 k l0 7
107
62
64
61
63-k U n S h oe M a c h C o rp . 25 2,584 x 6 0 k D e c 2 1 8 6 k E e b 1 57 J ’ ne 90 A u g
D o p r e f ................. 25
28
28
28 k
411 28 k D e c J i 32 k J My 23 x 3 0 7g D ec 34 k A u g
2*k
48 k 4 3 3<
46h
4 8 k U S S te e l C o r p ........ 100 11,761 3 2 k J ’ly 2 50 k O ct 11 24 k May 43 k D eo
D o p r e f ................. 100 l,0 9 e 99 J ’ne30 1 1 3 k F o b 1 91 May 107 D e c
106*4 106*4 105 k
1 0 5 j4
•40 J a n 26 •75 S ep 13 •40 M ai •67 k Ja n
L a s t S a l e ■50
D e c ’06 W e s t E n d L a n d .......... 25
9
W e s t T e le p & T e le g . 100 " i s , '
8 N o v 7 1 7 k J an 18 11 D e c 22 k F eb
8
8*4
9
D o p r e f ................. 100
82
82
......
31 79 N o v 2 . 98 S J a n 19 90 O ct 101 F e b
4 7 3 k O ct 3 86 F e b 7 82 k O ct 92 M ar
78k
78 ^ W e s t in g E l & M f g __ 50
D o p r e f . . . . . . . . . . 50
75 N o v 2 2 98 J a n 11 91 May 100 O ct
L a s t S a l e 75
JSov’ Oti
M in in g
8 k O ct 11
t 2 k May t lO k O ct
5
4 k D e c 15
5
5
5*4 A d v e n t u r e C o n ............ 25 3,270
63
66
67k
25 5,17b 3 1 k J ’ ly 19 55 k D e c 8 i 8 A p r 49 O ct
65
118
F
e
b
13
70
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m
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te
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4 6 k A m Z in c L e a d & s m . 25 2.610
5 7 k M ay 2 74 F e b 14 25 k May 73 k D eo
N o v ’ 06 A n a c o n d a ...................... 25
L a s t S a l e 76ik
2 k J ’ ly 13 1 5 k N o v 19
1 M a)
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14 A r c a d i a n ...................... 25 5 i', 2*8*7
13 k
2 *4 D e c 28 •45 J ’ ne
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2
25
260
* lk
2
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14
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32
B in g liam C on M in & & 50 6,.>93 25 J 'l y l 3 49 k F e b 14 28 May 37 k D eo
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B on an za (D e v C o ) . .. 10
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3 1 k 32
30k
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5 k Jan 35 D eo
37
37
38k
3 8 k B u tte C o a li t io n .......... 15 15,8^5 25 J ’! y l 3 42 O ct 4 . . . . . .
177
180 180
181 C aiuinet & A r i z .......... 10 2,519 107 J ’ l y l l 184 D e c 4
940
945 945
950 C a lu m et & H e c la ___ 25
257 675 M ay 2 900 D e c 22 i0\ J ’ne >2*6’ * Deo*
39
40*4
39k
40 C e n t e n n ia l................... 25 4,310 17 k J ’ly 13 40 k D e c 7 1 6 k M ar 34 k O ct
•50
•50
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•51 C on s M e r cu r G o ld ...
5 8,170 •35 D eo 2 1 •70 Jan 22 •30 M ai •75 May
94
94 k 97
97 C o p p e r K a n g e C o n C o lO O 111,383 6 6 k J’ ly 13 86 k Jan 20 64 Jan 85 k D ec
19
1 9 k 20
I l k Mai 22 N ov
19 k D aly - W e s t ................... 20 1,877 14 M ar 19 2 1 k N o v l 9
63
D om in ion Coal
100 61 k O ct 25 81 F eb 13 60 J an 8 6 k M ar
64
100
Do p r e f... .
10 113 N ov 17 122 M a r l9 113 Jan 120 D eo
100
l k J’ly 3 l
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3k
3k
3k
2 May
12 1.835
3k
26
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25 k
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9 k Jan 17 15 O ct y
L a s t S a l e 23 k
1 0 k D eo
J a n ’07 G ra n b y C on solidated. 10
30 J4 31
31 G re e n e C on solidated. 10 25|i49 19 k J ’l y 12 33*4 D e c 11 2 0 k J ’ nt 32*8 D ec
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4 k J an 5
7 k Apr
3 Jan
L a s t S a le 5 k
5
...
J a n ’07 G u a n aju ato C o n s o l..
7 k J an 18
31
33k 34k
3 3 :j4 Is le K o y a le (C o p p e r ). 25 3 k 2*14 1 5 k X ’ly 14 2 9 k J a n 6 1 7 k May 2 b k Jan
6 s J ’ly 14 12*8 Jan 13
6 May 13 k M ar
8k
8*2
9k
9 k M ass C o n s o l................. 25 5,579
l 7g O ct
1*4
1*8
lk
1 k J an 4 •70 J ’ nt
l k M a y flo w e r .................... 25 6,025 •4j J ’ ne27
. . . . ........... . . . . .
14 M e x ic o C on s M & S . .1 0 2,897 13 N o v l3 143* D e c 3
13k
13 k 14
21
2 i 14 M ic h ig a n ....................... 25 11,311 1 0 34 J ’ne22 22 k D e c 24 i*6k J*n l b k D eo
2 2 k 23
90
91
92 k
92 s M o lia w k ........................ 25 7,773 54 k M ar 5 85 D e c 31 48 May 6 l k D eo
6 k D eo
328
2
2
2 J ’ ly
l k D eo 8
I s*
7 k F eb 13
l k M o n ta n a C oa l & C ok e 25
19
5 7,703 11 Jan 26 23 k O ct 9 1 0 k D ec 13 D ec
19*4 1 9 k
1 9 k X e v a d a C o n so lid a te d
116 N o rth B u t t e ................. 15 20,907 7 4 k M ar o 117 k O ct 31 34 A u g 93 D eo
1 1 5 k 116 k 1 1 2 k
2 k O ct
982 •70 J ’ ly 17
2k
2 *8 D e c 27 •75 Ma>
2
2k
2*4 O ld C o lo n y ................... 25
54
*56 .........
5 6 k O ld D o m in io n ............. 25 10,900 33 J ’ly 13 6 6 k O ct 24 23 k M a) 36 k D eo
159
166 166
161 O s c e o l a .......................... 25 5,682 93 M ar 7 151 D e c3 1 8 8 F e b 115 O ct
33
P a rro tt (Silv<fc C op p) 10 5,591 2 2 k J ’ly 11 48 J a n 2 22 J ’ ne 47 Deo
33
33
33k
1
3 k Jan
1
1
2 k D e c 1 » •50 J 'n t
l 1* Ph oen ix C o n s o l............ 25 3,000 •60 M aylO
114
25
118 119
80 J ’ly 16 114 J a n 11 95 M a) 118 Jan
118
1 *4 May
8 k O ct
9 k D ec 2 i
R h ode Is la n d ............... 25 27, l s 7
11 >4
12
11*8 12
3 k J ’ ly 16
1 k Ma)
6
3 Jan
5kN ov2l
l k J ’ly 26
6 *4
6k
6 k San ta F e(G old»& Cop) 10 8,890
9 Jan
6 k F e lj
22 k
5 k J a n 10 18 k N ov2ft
22k 24k
24 k S h a n n o n -------------------- 10 13.169
148
25 3,776 90 J ’n e 9 122 Jan 2 101 May 140 M ar
150
158 158
2 F e b 1 6 14 O ct
r e c urns ell . . . . . . . . . . . . 25
ij ^pi*28 30 D e c 21
32
50
51
5 1k
5 0 k T e n n e s s e e ..................... 25 6,360 40 M ay 2 52 J a n 6 24 k J ’ne 5 3 k Deo
7 k Jan 13 k Feb
36k
7 k J’ n e l9 20 k D e c3 1
3 7 k 39*4
3 8 k T rin ity ............................ 25 92.329
9 M ar 75 D eo
71k
71*4 7 2 k
7 1 k U n ited C o p p e r............ 100 3,155 57 k M ay 2 78 F e b 7
7 4 k N ov SS D cxj
Do
p r e f............... 100
L a s t & cl~L&95
8 8 J a n 9 111 F e b 2 1
Dec *06
U n it StateaCoal<fcOil 25 3,085
9 k A pt 1 3 k D oo
9 *4 Sep fc 1 4 k M ar30
11*4
n
ii
12
66 k
67*4 66*4 67*4 U S S w e it R e f. Ji M in . 50 6,803 51 M a r 5 66 J a n 20 ........... .. .... . . . . . .
D o p r e t ................. 50 3,567 43 Alar 5 47 k Sep 17
47 k
47 s 48
47 k
73
74
70k
5 62,’ 862 5 2 k J ’ ne28 6 9 k Jan 12 3 9 k Mai 5 8 k N ot
73*4 U tah C on ( G o l d ) ........
9 k M a rl 4 c l May 17 k O ct
8
5 k N o v 22
8
8k
8 k
25 6,789
4 J ’ly 3 13 k O ct 9
7 k D ec 15 k F eb
12 k
13
12 k 1 2 k
25 5,584
W o lv e r in e ................... 25
190
190 190
190
209 131 J a n 30 190 D ec 27 105 Jan 134 D eo
3
2 k D e c 31
l k J ’ne
3
3k
3*4
25 6.766 •70 J ’ly 19
2 k Fab

.....

B e fo re p a y ’t of a ss e s s ’ts ca lle d in )„9y 5. ci Boforo p a y ’ t of a s i ’td called in 1 9 J 1 . ' B id a a d asked. IlN ew stock. f A s s ’ tp aid . J E x -rig h ts. a E m i l v. Ss rig h t*




Boston Bond Record.

J a n . 19 1907.]
B O .> D s
BO STON STOCK K X C H ’ O E
W e e k E n d in g J a n 18
A m B ell T e le p h o n e 4 s ___ 1908
A m T e le p * T o l c o ll tr 4s. 1929
A m W r it P a p er 1st s 16s g 1919
A t c ii * N e b r a s k a 1st 7 s . .19 0 8
A tell T op & S Fe ge n g 4 8 .. 1995
A d ju s tm e n t g 4 s ___ J ’ ly 1995
B oston E le c t L ig h t 1 st 6 s . 1908
C on sol 5 s ............................1924
B oston & L o w e ll 4 s ........... 1907
4 s............................................1916
B oston & M ain e 4 % s ..........1944
B oston T erm in a l 1st 3 % s .1947
B a r & M o R iv e x 6 s ........... 1918
N o n -e x e m p t 6 s .................1918
S in k in g luiul 4 s ............... 1910
B u t t e * B oston 1st 6 s ___ 1917
Cedar ltap & M o 11 1st 7 s . 1916
2d 7 s ..................................... 1909
C en t V e rm t 1st g 4 s ..M a y lW 2 0
0 U * <_v Iow a D iv 1st 58.1 9 1 9
Io w a D iv 1st 4 s ............... 1919
D eb en tu re 5 s .................... 1913
D en ver E x te n 4 s .............1922
N eb ra sk a E x te n I s ........1927
B * S W s t 4 s ...................1921
I llin o is D iv 3 % s ............... 1949
J o in t bonds See G t N o rth e r n
C h ic J o R y * Stk Y d s 5s .1 9 1 5
C oil tru s t re fu n d in g g 4 s l 9 4 0
Oh At 11 * S t P D u b 1) 6 s .. 1920
Ch 11 * S t P W is V «iiv 6 s l9 2 0
C h ic * N o M ic h 1st gu 5 s . 1931
C h ic * W M id i gen 5 s ___ 1921
C o n cord & M on t c o n s 4 s .. 1920
C on n & Pass R 1st g 4 s . ..1 9 4 3
C u rren t R iv e r 1st 5 s ..........1927
D e t G r ltap * W 1st 4 s . . . 1946
D om in ion Coal 1st s 1 5 s .. 1940
F itc h b u r g 5 s .........................1908
4 s ...........................................1915
4 s .......................................... 1927
F r e m t E lk & M o V 1 st 6 s .. 1933
U n stam ped 1st 6 s ........... 1933
G t N ot C B * Q c o il tr 4s 1921
R e g is te r e d 4 s .....................1921

P r ic e
t'r id a v
J a n 18
J -J
J -J
J -J
M-S
A-O
N ot
M-S
M-S
J-D
J -J
J-J
F-A
J -J
J -J
J -J
A-O
M-N
J-D
Q -F
A -C
A-O
M-N
F-A
M-N
M-S
J -J

B id
A s k Low
H ig h
98 Sale
98
98 V
.......... 88% 89
89%
H87 % N o v ’ t'6
104 M a r’ C6
1 0 0 % 101
100%
HI034
92 J a n ’ 07
92 ........

J-J
A -0
J -J
J -J
M-N
J -D
J-1)
A -0
A -0
A-O
M-N
M-N
M -S
M-S
A-O
A-O
J -J
Q-J

107% .
99 78 ■
1 2 3 ‘4‘ 1
"8 6 %!

9978

101
9 1 % ........

JSO.NOs
BO STON STOCK E X C H ’ GE
W e e k E n din g J a n 18

Jiange
Y ea r
1906

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

Low H ig h
97% 100
8934 95
1185% 8834
104 104%
99 3-i 1103%
92®g 97

110 F e b ’04
104% A p r ’ 00
101 S e p ’ 06
114 M a r ’ 06
112 % Jan ’ 03
li>8 ]> ec’ 06
102 Sep ’ 05
9 9 3s O ct ’06
100 J ’ n e ’Ol
123*4 N o v ’ 06
111 >s J ’l y ’ 05
86%
86 V;
109 M ay’05
101 A u g ’ 06
102% J ’ l y '06
99 78 D e c ’ 00
102% J ’ ne’ 06
98% D e c ’ Oi:'
9134 D e c ’ 06

101
114

101*8
114

107*4 111%
9 9 " " 99 %
123% 123%
86 * * 9*6
ib o " i o i ”

102 % 101

99
102*8
97%
90%

104 D e c ’ 06
..........104
98 N o v ’ ."
A p r ’ 06
120 F e b ’ 05
100 101 103 A u g ’06
102
101 1 0 1 * 101
1 0 1 % J ’ n e ’06
112 % Jan ’ 03
104 N o v ’ 06
100 104
92 D e c ’ 06
90
92
100 J a n ’ 07
103 % s e p ’ 05
103 % A p r ’ 05
100 % O ct ’ 06
134*4 N o v ’ 06
140 A p r ’ 05
95 Vj 96*4 9 6 ^ Jan ’ 07
95% . . . . . . 96 J an ’ 07

100%
105%
99*8
94%

103% 107
97
99%
122 124%

122

103 103
101
105
101 % 10 1%
00
90
98

106
97
101

99% 102%
134% 137%
96% 101%
96% 101%

P rice
1-Yidav
J a n 18

A'ww-f/e
Year
1906

B id

A sk Low
H igh
100% O ct ’ 06
100*9 100%
122 % N o v ’ 06
98%
98*,
102% N o v ’ 06
118% 120
119% 120
......... 94
94% D e c ’00
92 % D e c ’ 06
101 Sale 101
101
1 0 0 % Pep ’06
113*8 N o v ’ 06
101% Sep ’ of)
118 JV1!iy ’04
85
86
85% Jan ’o7
26 % O ct ’ or.
26
28
17% A u g ’ 05

n iln o is Steel d e b e n 5 s ___ 1910 J -J
N o n -c o n v e r t d eben o s . ..1 9 1 3 A -0
I .a F a ils * S io u x C i s t 7 s .. 1917 A -O
K an C C lin * S pr 1st 5 s . ..1 9 2 A -O
K an C F t S & G u lf 1st 7 s. .1 9 0 8 J-D
K an C F t S c o tt * M 6 s ___ 1928 M -N
K an C M & B gen 4 s ........... 1934 M -S
A s s e n te d in co m e 5 s ........1934 M -S
K an C * M R y * B r 1st 5 s l9 2 9 A-O
K a n C S t J o * C B 1st 7 s ..1907 J-J
M ain e C en t c o n s 1st 7 s . ..1 9 1 2 A - 0
C on s 1st 4 s ........................ 1912 A-O
M arq H o u g h & O nt 1 s t 6s. 1925
O
M e x ica n C en tral c o n s 4 s . .1911 J -J
1st co n s i n c 3 s ........... Jan 1939 j ’ly
2d c o n s in c 3 s . .'. ___ Jan 1939 r ’ ly
M ich T e le p 1st 5 s ................ 1917 j - J
M in n e G en E le c c o n g 5s 1929 j - j
N e w E n g C ot Y arn 5 s ___ 1929 F-A
N e w E n g T e le p h Os........... 1907 A-O
6s . . . . . " . ................................1908 A-O
5 s .......................................... 1915 A -O
N e w E n g la n d c o n s g 5 s ... 1945 J - J
B o sto n T e r m 1st 4 s ........1939 A - 0
O ld C o lo n y g o ld 4 s ............. 1924 F-A
O re g R y * N a v co n g 4 s .. 1946 J-D
O re g Sh L in e 1st g 6 s ........1922 F-A
R e p u b V a lle y 1st s f 6 s . ..1 9 1 9 J - J
R u tlan d 1st con g e n 4 % s .l9 4 1 J -J
R u tland -C anadian 1st 4 s l9 4 9 J -J
S a v an n ah E lec 1st co n s 5s. 1952 J-J
S eattle E le c 1st g 5 s ......... 1930 F-A
T e r r o H a u te E ie c g 5 s ___ 1929 J-J
T o r r in g to n 1st g 5 s ........... 1 9 1 8 M-S
U m o il P a c R R * 1 gr g 4 s . 1947 J - J
1st lien c o n v 4 s .................1911 M-N
U n ited F r u it co n v g e n 5 s. 1911 M -S
U S Steel C orp 1 0 -6 0 y r 5s . 1963 M-N
W e s t E n d S tr e e t R y 4 s ___ 1915 F-A
G o ld 4 % s ..............................1914 M-S
G old d e b e n tu re 4 s ___ I . .1 9 1 6 M -N
G old 4 s ................................. 1917 F-A
W e s te rn T e le p h & T e l 5 s . 1932 J -J
W is c o n s in C en t 1st g e n 4S1949 J - J
W is c o n s in V a lle y 1st 7 s .. 1909 J -J

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

W eek's
R ange or
L ast S a le

Low H ig h
100 i o i %
LOO I01*n
122*8 1*2%
97% 100
102% 106
117*2 1 23 %
94 >*j 99%
92
94
100 104%
101*% 102%
1 13% 115

io i

75%
19%

102% A u g ’ 04
100
100
100 O c t ’06
100% O ct ’ 06

9 7 34

100%

97
10*1
1U0%
i 04

1 00 %

101% Sep ’ 06
110: Jan ’ 05
5121 % M a r’ 06
DM D e c ’ u6
103
07% N o v ’ 05
102 M a i’ 02
98% M ay’06
104 O ct ’ Ot;
102 D e c ’ O'
99% N o v ’ 06
1102 Jan ’ 07
1150% A p r ’ 06
106 . . .
1 10 Jail ’ 07
1198% 198%
” 9 9 % 1 0 0 % 1 0 0 % Sep ’ 06
102 J an ’ 07
• *99% i0(ji: 102 % J a n '0 6
99% 100% 100% 100%
97*,
......... 97
97
1194% Sep ’ 05
109 «8 A u g ’ 05

' N o p r ice F r id a y ; la te s t bid an d asked.

84% .
26 %

100%
101*2
101%
107

1 0 l% 1 0 1 %
Inal's 1121*8
103 103
98
98%
103% 109
" 9 9 ib o " *
102 *2 1104%
1150 % 155
105 112%
1196 1100%
100% 102*%
102 '« 1 0 3 %
10238 102%
100*4 102%
99 103 %

1i F la t price.

Philadelphia and Baltimore Stock Exchanges—Stock Record, Daily, Weekly, Yearly
S h a r e P r ic e s — N o t l ’ e r C e n tu m P r ic e s
S a tu rd a y
J a n 12

M on d a y
J a n 14

95%

95%

95%

9 5 H.

13%

13%

'13*4

13%

’J u e s a a y
J a n 15

95%
*22

96
23

*47 % 47%
*13% 1334

W ednesday
J a n 16

95%
22

9 6 'a
22

47%
‘ 13%

47 *s
13%

*50%
51 *50% 51
*50% 51
•50% 51
45 % 4 6 %
45%
47
4 6 % 473b
46% 47®e
10% 10%
11 *0 11%
11
11'% aiO -'s 10%
*7
7%
7
7
*7
7%
*7
4
34% 34%
*3434 35% *3 4% 35*4
* 3 4 34 35%
15% 15%
*16% 16
i 5 34 15 '*4 * 15 Sj 16
'1 0 2 10 J
■102 103
a 02 103
►102 l ‘J3
77
7734
76%
77
75
76=8
76% 77
68%
4/
8*10
20%
68-2
*44%
*47
68
91%
‘ 27

6836
47%
8 't
20%
69
45%
48
68
94%
28

68%

67% 68%
677ie 68%
47
47
46% 4 6%
*4 7% 47%
8
8
8 310 83le 7 15ie 8 xio
19=g 20
20 ‘4 20*2
19*4 20-4
66
68
67 7s 69% * 0 i334 67l l ie
45
45
4 4 15ie 45
45% 46%
* 4 6 *2 47%
*46
47
47
47
54% 55%
64
67
57% 58
92% 94
93% 94%
91% 94=8
*28
30
*29
30
28
28

P H IL A D E L P H IA

Hid

I n a c t i v e S*tocUs
A lle g h e n y Val p r e t ___ 51
A m e r ic a n C e m e n t........10
9%
A m e r G as of N J ........100
B ell T e le p h o n e ............. 50
C am bria J.i.on ...v..........50
"4 8 "
C en tral Coal * C ok e. 101
C on sol T r a c ot N J . .. 1 0 0 "7 6 "
D iam on d S tate S t e e l.. 10
P r e f e r r e d .....................10
E a ston C on E le c tr ic 6.50
E le c S tora g e iia tt___ 100
P r e f e r r e d ...................100
F t W a y n e & W V ........100
G erm a n tow n P a ss........50
In d ia n a p olis S t ........... l o o
In d ia n a U n ion T r -----100
In s u r a n c e Co o f N A . . 10
24
In te r Sm P o w & C h em .60
10
K e y s to n e T e le p h o n e ..5 0
P r e f e r r e d .....................60
K e y sto n e W atch C a se. 100
16S
L it B r o t h e r s .................. 10
L ittle S c h u y lk ill........... 50
M i n e h i l l * S ch u y l H ..5 0
2
N H a v e n i r o n * S t e e l.5
95
N o rth e r n C e n tr a l......... 50
N o rth P e n n s y lv a n ia ..5 0
P e n n s y lv a n ia S a lt........50 113
61
P e n n s y lv a n ia S t e e l.. 100
P r e f e r r e d ...................100
P liila Co (P itts ) p r e f ...5 0
P h il G e r m a n * N o r r is .50
94%
P h ila T r a c tio n ...............50
6*2
R a ilw a y s G e n e r a l........10
S u sq u eh Iron & S t e e l ..5
T id e w a te r S te e l........... 10
P r e f e r r e d ___
10
18
T ou op a h 1111)111" ot X e v 1
U n io n T r ot I n d ......... lo o
U n ite d N J R R * c . . 100 253*
U n it T r a c P itts p r e l . . 50
W a r w ic k I r o n * S t e e l.10
W e s t J e rsey * Sea S li.5 0
W e s tm o r e la n d C o a l....50
W ilk e s G a s * E l e c . .100

A sk

96%
22

•47 . . .
*13% 13%

0t the
W eek
Shares

B a lt i m o r e
C on solid ated G a s............100
95
96*4 N o rth e rn C e n t r a l.......... 50
*2 134 22% •Seaboard (n e w ) ............... 100
D o 1 s t p r e f ........ ...1 0 0
*75
80
Do
2d p r e f............. 100
■47
48
'1 3 % 13% U nited R y & E le c t r ic .. 50

P h ila d e lp h ia
50% 50%
50% 50% A m e rica n R a ilw a y s ___ 50
44% 45% Cam bria S t e e l ................. 50
45% 46%
10% 10%
10=8 11
E le c t r ic Co o f A m e r ic a 10
*7
7 *2
7
7 O en A s p h a lt tr c t f s ___ 100
Do p r e f tr c t f s ___ 100
-34*4 35% *34
35
‘ 15%
16 *16% 15% Lake S u p e rio r C o r p ___ 100;
1 0 ' 103
'1 0 2 103
L e n igh O & N a v t r ctfs . 50
7 4 % 75
73% 74% L e h igh V a lle y ................. 50
2
2 M a r s d e n C o ...................... 100
67yj8 67 % 67% 67% P e n n s y lv a n ia H it .......... 50
47% P lu la d o lp ’ a C o (P it t s b ) . 50
46*4 47% *47
7 % 7 l= i6 Ph iladelphia E le c t r ic t . 26
7 »n
20% 21*4 P h ila R a p id T r a n s i t c .. 50
20
66% 67
61*2 6«11ie H e a d in g ............................ 50
D o 1st p r e f ............. 50
*44% 45% * 44% 45*4
D o 2d p i e f ............... 50
*46
47 | 45% 45%
5 8 34 U n ion T r a c t o n ............... 50
64% 57 hJ 57
92% 9 3 *j U n ited G as I m p t ........... 50
93% 93%!
W e lsb a ch C o ...................100
* 2 8 % 30 | *28
30
B id

P H IL A D E L P H IA

iio n d a
A1 V a l E « x t 7s 1910 A -0
9% A l t * L V E l e c 4 %s’ 3 3 .F -A
A m K y s c o n v S s 1 9 1 1 . J-D
A tl C ity 1st 5s g ’ 1 9 .M-N
Balls T e r 1st 5s 192 6. J-D
B e r g * E B r w 1st 6 s’ 21 J-J
Betlile S teel 6s 1 9 9 8 .Q -F
C h o c * M e 1 st 5s 1949 J-J
Ch O k & G g e n 5 s ’ 19 J-J
Col St R y 1st c o n 5s 1932
C on T r a c o f N J 1st 5 s .’ 33
69
E & A 1st I I 5s 1920 M -N
E le c & P e o T r stk tr c tfs
i '3 5 * Erj II G as-L 1st g 5s 1928
H & B T o p c o n 5s ’ 25 A-O
In d ia n a p o lis R y 4 s. 1933
2 2 % In te r s ta te 4s 1943 ..F - A
L e liig h N a v 4% s ’ 1 4 .Q-J
25
R l i s 4s g ........1 9 1 4 .Q -F
10 %
G en M 4% s g .l9 2 4 .Q - F
L e h V C 1st 5s g ’ 3 3 . .J-J
L eh V ex t 4s 1st 194 8. J-D
2d 7s 1 9 1 0 .................M -S
C o n so l 6s 19 2 3 ........J-D
A n n u ity 6 s ...............J-D
G en c o n s 4s 2 0 0 3 .M -N
L eh V T ra n c o n 4s ’33 J-D
113% N e w C on G as 5s 1948 J -D
N e w a r k P a ss co n o s 1930
N Y P h & N o 1st 4s ’ 39 J J
105
47%
I n c o m e 4s 1 9 3 9 ...M -N
N o O h io T r a c co n 5 s ’ I9.J-J
95 % P e n n g e n 6s r 1 9 1 0 .. V a r
7
C on sol 5s r 1 9 1 9 .. .V a r
P en n * M d S te e l co n 6s.
Pa & N Y Can 5s ’ 3 9 .A O
C on 4s 1939............. A -O
18% P e n n S teel 1st 5s ’ 17 M -N
P e o p le ’ s T r t r c e r t s 4 s ’ 43
P C o 1s t * co l tr 5 s ’ 49 M -S
C o n & c o l t r 5S195111-N
49
8 % Ph il E lec g o ld tru s t c t fs .
T r u s t c e r tifs 4 s ...............
58
P * E g e r M 5 g ’ 2 0 . A-O
G e n M 4s g 1 9 2 0 ..A & O

B id and asked p rices; n o sales on this day.




91%
22

( F o r B o n d s a n d I n a c tiv e
S tocks see b elo w )

F rid a u
J a n IS

^ E x -rig h ts.

A sk

109

110

ib o ’

i’00%

103
119

1 10%

105% 106

ids

109%
94%
87
68*4

110 %
i.2 1 % 122
150%
’9
97%

1?6

125

94
107 % i'08%

102

.........

1 0 7 " i ‘07%
......
102
99% 1(50
69% 70
111% 112%

D$7.50 paid,

B on<ls
A n a c o s tia & P o t 5 s ...........
A t l * Ch 1st 7 ...1 9 0 7 J-J
A tla n C L R R 4 s l9 5 2 M -S
A t i C oa st L (C t )c t f s 5s J-D
C tf« o f in d e b t 4 s . .. .J - J
5-20 y r 4s 1 9 2 5 ..........J-J
B a lt C P a ss 1 st 5s ’ 11 M -N
B a lt F u n d g 6 s .191 6 M -N
E x c h a n g e 3 % s 1930 J-J
B a lt & P 1 s t 6s m 1 ’ 11 A - 0
B a lt T r a c 1 s t 5 s .. ’ 29 M -N
N o B a lt D iv 5s 1942 J-D
C o n v e r tib le 5 s .’ 06 M -N
C e n t’ l R y c o n 5 s l9 3 2 M -N
E x t * Im p o s .1 9 3 2 M -S
* $10 paid.

Jlxghest
J’ n e 7 92 J ’ne20
J ’ly 3 111% D e c 11
D e c 24 32 Jan 17
Sep 20 91% M ar30
D ec 22 62 *2 J a n 5
D e c 27 19 J a n 15

1,228
325
100
100

20
,6 9 !
887
300
*12*6
,505
100
,545
111

,138
,171
,115
133
148
,472
,096
100

R ange to r F r e v io u t
Y e a r (1 9 0 5 )
H ig h est

Lowest

83 M aj 90 A p r
99 May 110% Hep
21 % Jan 34 D ec
83 Mai 91 % N o v
47% Jan 64 D eo
12 *2A p r 18 M ax

50% Sep 10 54 Jan 27 48 Jan
30% J a n 5 39% N ov ;;0 24% May
il
M ay 9 12% N o v 2 0
1 0 % Jan
,8*., 1>ec
6 N ov2S 14 J a n 4
31 D e c 7 4 8 J a n 19 36 N ov
14% N o v 2 6 23% J a n 15 14% Mm
100 D e c2 1 118 Jan 19 1 0 0 % J ’ ly
65 M ay 2 86 J ’n e 8 52% Jan
i 7i e O ct 8 3 15io J a n 10
2 % D ec
e iJ fcJ ’ ly 3 73U 16 J a n 22 65l3le .vl a>
47 A p r 20 a54 *2 M ar 2 6 40% Jan
6% D ec 7 9 318 O ct 17
8
J ’ ne
c l 9 *4 D e c 3 1 534*4 Jan 27 1 17% Jan
56*4 May 3 83 J a n 23 H9% Jan
43% A p r 16 47_15ie Jan 23 45 May
44% May 2 o 1 J an 23 42 Jan
5 8 % D ec 18 6 } A u g 2 i
68*4 Ma:
1J8l% M a y l6 101 F eb 15 90 J ’ ue
26 D e c 2 i 32 M ar 1 20 Feb

B id

P H IL A D E L P H IA
P h * R ea d 2d 5s ’ 3 3 . A-O
Con 11 7s 1 9 1 1 ........ J-D
Con M 6s g 1 9 1 1 ....J -D
E x I m p 11 4s g ’ 4 7 . A -O
T e rm in a l 5s g 1 9 4 1 .Q -F
P W & B co l tr 4s ’ 21. J-J
P o rtla n d R y 1st 5s 1930.
R o ch R y * i_j co n 5 s ’ 54J-J
U T r a c I n d ge n 5s’ 1 9.J-J
U n Iiy s T r c t fs 4 s ’ 4 9 J * J
U n ite d R y s I n v l s t c o l l t r
s t 'o s 1 9 2 6 .................M -N
U T r a c P it g e n 5s ’ 97 J -J
W e lsb a c h s t 5s 1 9 3 0 .J-I)
Wrlk s-B G * E co n 5 s ’ 55J-J
B A L T IM O R E
I n a c t iv e S l o c k s
A la C on s C o a l* I r o n .100
P r e f ..............................100
A tla n ta * C h a r lo tte .. 100
A tia n C oa st L in e R R .1 0 0
A tla n C o a s tL (C o n n ) 100
C anton C o .....................100
C ons C ot D u c k C o rp . ..5 0
P r e f e r r e d .................... 50
G e o rg ia S o u * F l a ...1 0 0
1st p r e f ...................... 100
2d j»re f........................ 100
G -B -S B r e w in g ........... 100

t ? 15 paid.

Jiange to r Year
190 6

Sales

A C T I V E STOCHLS

T h u rsd a y
J a n 17

A sk

B A L T IM O R E

B id

.........

Chas C ity R y 1st 5s ’ 23 J-J'
Chas R y G * El 5s ’ 99 M -S
Chari C * A e x t 5 s .’09 J-J
2d 7 s .................1910 A-O
C ity * S ub 1st 5 s . . ’ 22 J-D
C i t y * S u b (W a s ) l s t 5 s ’ 48
C oa l & 1 R y 1st 5 s ’ 2 0 F -A
C o l& G r n v l s t 6 s .l 9 1 6 J - J
C on sol G as 6 s . .. 1910 J-D
o s ........................ 1939 J-D
G a * A la 1st co n 5s ’ 45 J -J
G a C a r & N 2 s t 5 s a :’29 J-J
G eorg ia P 1 s t 6 s . . . ’ 22 J-J
G aSo * F la 1st 5s 1945J-J
G -B -S B r e w 3-4s 1 951M -S
2d in c o m e 5s 1951 M -N
K n o x v T r a c 1st 5s ’ 2 8 A -0
L a k eR E l 1st g u 5 s ’ 42M -S
M etS t( W ash) l s t 5 s ’ 25 F A
M t V e r C ot D u c k 1st 5s.
I n c o m e s ............................
N p tN & O P l s t 5 s ’ 38 M-N
G en eral 5s___1941 M -S
N o rfo lk S t 1st 5 s ’ 4 4 . . J-J
N o rth C e n t4 % s 1925 A -O
S eries A 5s 1 9 2 6 ___ J-J
S eries B 5s 1 9 2 6 ___ J-J
P itt U n T r a c 5s 1 9 9 7 .J-J
P oto V al 1st 5s 1 9 4 1 ..J-J
S av F l a * W e s t 5 s '3 4 A-O
Seaboard A L 4s 1950 A-O
Seab & R oa n 5s 1 9 2 6 .J-J
S ou th B o u n d 1st 5 s ..A -O
U E l L & P 1st 4 %8’ 29 M -N
Un R y * E l 1 s t 4 s ’ 49 M -S
In c o m e 4s 1 9 4 9 ........J-D
Va M id 1st 6s 1 9 0 6 ..M -S
2d s e rie s 6s 1 9 1 1 ...M -S
3d se rie s 6s 1 9 1 6 ..M -S
4th ser 3-4-5s 192 1. M-S
5 th series 5 s 1 9 2 6 .M-S'
V a (S tate) 3s n e w ’ 3 2 .J-J
F u n d d e b t 2-3s 199 1. J-J
W e s t N C con 6s 1914 J-J
W e s V a C & P 1st 6 g ’ l l J J
W il * W e ld 5 S ..1 9 3 5 .J -J

104
93%
114
112
108%
104
109%
110
103*2
107
108
108
118
110
58%
30
106

110%
107
103% 103%
121
120
i b o " Loo'%
84

.........

89%

89%

73*2

74 \

62%
93%

92
180
127
300
90
12
33
30
97
78
7

330
92%
12%
33%

103

104

98*4
107
88
88
103%
110
103
106
113
114

"98%

110

i $ 20 paid,

54% A p r
32 D eo
12% Feb
17% Jan
49 Jan
25% M ar
123% N ov
90 4 N ot
5% J an
73% A u g
55% N o v
12% Apr
J36 A p r
N ov
4 i % Aug
50% N o v
63% O ct
125% A p r
31 N o v

99
82
8

90
90
104
112
114
116

a R e ce ip ts ,

b *25 paid.

112
83%
85

A sk
95
109
104%
L09=g
104%
199
108%
108 %
119
110%
59
31
..........

......
83%

100

107
106
112
112
HO
112
82*=, 82%
110
108
110
93
95
89% 90
58*4 68%
108
109

109
.........

110
84
94
110
104%
114%

ill* '
85
95
111
104%
..........

c $30 paid.

L52

[T ol. L x x x ir

THE CHRONICLE.

Volume of Business at Stock Exchanges

I n d u s t r ia l a n d .U isce t
A sk.
B id
A tit
133
104
C u b a n 6s o f 1 8 9 6 ............... 100
•91k IID iam ond M a tch C o . 100 ......... t 1 2 2 k
7k
D o m in io n C o p p e r (n e w )10
7 ‘4
D ou gla s C o p p e r ............. 5 t 10
1()>»
T R A N S A C T IO N S A T T H E N E W Y O R K STOCK E X C H A N G E
a ie c t r i c B o a t............... 100
33
31
D A IL Y , W E E K L Y A N D Y E A R L Y
4
P r e f e r r e d ...................100
80
76
35
E le c tr ic V e h ic le ..........100
14
10
P r e fe r r e d ...................100
73
20
16
Slocks
W eek en d in g
E m p ire S te e l............... 100
103
8
S tate
R a ilr o a d <Scc
V S
Jan IS
P r e f e r r e d ...................100
46
50
88 k
B on d s
B on ds
B onds
ly o ?
P a r va lu e
S h ares
F e d e ra l S n g ar, c o m .. 100
42
38
T e le s r r tfc T e l e p h o n e
P r e f e r r e d ...................100
74
77
* 8 5 7 ,0 0 0
$13 3,00 0 $ 10,000 H Am er T e le g & C able 100
IlG eneral C h em ical ..1 0 0
4 96 ,311 $42 ,566 ,85 0
90
74
80
85
S a t u r d a y .............
2 .274.500
314.500
H Central tfc So A m e r . 100 140
II P r e fe r re d ................. 100 10034 101
81*,682,400
795,774
143
M o n d a y ...............
1.439.500
253.500
C om m er U n T e l (N Y ).2 5 114
G old H ill C o p p e r _____ 1
" 5 ,0 0 0
5 2,22 4,800
583 ,498
4*5
4 s4
T u e s d a y ...............
7,000
Em p & B a y S tate T e l 100
G re e n e C a nanea (w i).2 (i t
2 .7 2 7 .5 0 0
407 .000
23
75
W e d n e s d a y .......... 1,281,072 1 14,519.000
2 .215.500
G re e n e C on C o p p e r ... 10 t
261.000
3,500 F r a n k lin ........................ 100
31
8 63 ,100
7 8,061,25 0
45
T h u r sd a y .............
2 ,3 8 1 ,0 0 0
UGoid <fc S t o c k ........... 100 110
G re e n e C o n so l G o l d . .. 10 t
135 ,000
F r i d a y .................. 1,555,168 1 37 ,562 ,55 0
2^
G re e n e G o ld -S ilv e r .... 10 t
H u d s o n R iv e r T e le p h 100
2
70
2 18
G u g g e n lie im E x p lo ’ n .100 295
310
11N Y & N J T e le p h ...1 0 0 a l l l
T o t a l _______ . . .
5 ,579,923 $49 4 ,6 1 6 ,8 5 0 $ 1 1 ,8 9 5 ,0 0 0 $ 1 ,509,000
H a c k e n s a c k W a te r C o —
ijN o r th w e s te r n T e le g . 50 116
P a cific & A t la n t ic ........25
K e f g 4s 52 o p 1 2 . ..J -J § 90
J a n u a r y 1 to J a n 18
W eek e n d in g J a n 18
75
93 k,
S a les at
93
HS o u th e rn & A t la n t ic 25
H a ll S ig n a l C o ............100
97
95
S e w Y o r k Stock
14
15
H
a va n a T o b a c co C o .. 100
1907
E xcha nge
1906
1906
1907
E l e c t r ic C o m p a n ie s
23
27
P r e fe r r e d ................... 100
C h ic a g o E d is o n C o See C hicago list
66
70
1st
g
5s
J
u
n
e
1
’
2
2
.
J-D
12,688,437
2
3
,253,109
8.886,616
5,579,923
S to c k s —N o . shares
11K in g s C o E l L & P Co 100 125
H e ck e r-J o n e s -J e w ’l M ill
128
P a r v a m e .......... f 4 9 i , 616 .8 5 0 $31 6 ,1 3 9 ,7 0 0 $ 1,094,731 ,250 $2»12 5,519,000 N a rra g a n (P r o v ) E l C o 50
109
1st 6s 1 9 2 2 ............... M -S 105
99*4
$ 28 ,100
$9,500
*8 1 ,0 0 0 N Y & Q E l L & P o w C o lO O t 98
1,500
B a n k shares, p a r ..
34
H e r ’ g -H a ll-M a r.n e w .lO O
37
55
62
P r e f e r r e d ................... 100
BONDS
70
H o b o k e n L a n d & Im plO O 200
80
$39 ,500
$29 2 ,6 0 0 U n it e d E le c t r ic o f N J 1 0 0
$ 2 5 ,5 0 0
5 64 ,600
G o v e r n m e n t bonds
103*"
75
115s 1 9 1 0................... M -N 2100
2 ,337,000
3,450,000
8,6 9 0 ,8 0 0
1,509,000
43 1949 .......................J -D 2 70*4 ' 7034" H o u s to n O i l ................. 100
9
10
S ta te b o n d s _______
28,393,700
25.115,200
52,9 7 2 ,4 0 0
11,895,000
R R . an d m is. bond:
45
53
P r e f e r r e d ...................100
F e r r y C o m p a n ie s
H u d so n R e a lty ............100 110 130
$3 1 ,833 ,20 0
$61 ,955 ,80 0 B r o o k ly n F e r r y stocklO O
$13 ,429 ,50 0 $2 8 ,016 ,80 0
T o ta l b o n d s ...
58
S4
I k 7 In g e r s o ll-R a n d c o m . 100
93
B & N Y 1 s t 6s 1 9 1 1 .J-J 2 98
9 4 k,
H P r e fe r r e d ...................100
68
74**
135
N
Y
&
E
R
F
e
r
r
y
s
t
k
.
100
I
n
te
r
n
a
t’iB
a
n
k
in
g
C
olO
O
D A I L Y T R A N S A C T IO N S A T T H E BO STO N A N D P H I L A D E L P H I A
78
1st 5s 1 9 2 2 ............. M -N
I n t ’ n ’l M e rc M a r in e . 100 " 9 3 4 10
81
EXCHANGES
28
29
107
P r e fe r r e d ...................100
N r & H o b c o n 5s ’46. J-D 2105
110
Ool tr d 4 k ’ 2 2 o p ’ 0 7 A -0
H o b F y 1 s t 5 3 1 9 4 6 M -N 2103
7ok 76k
ln te rn a t’1 N ic k e l___ 100 115
P h il a d e l p h i a
N Y & N J 2d 5s 1 9 4 6 . J-J 2105
B o sto n
W eek e n d in g
30
P r e f e r r e d ...................100
84
lO tli & 23d S ts F e r r y 100
'8 8**'
Jan 18
19
85
In te r n a tio n a l S a lt___ 100
1st m o rt 5s 1 9 1 9 ...J-D 2 80
23
U nlisted
B on d
L isted
B on d
JAsted U nlisted
1901
l s t g 5 . 195 1........... A -O
55
IfU nion F e r r y s to c k .1 0 0
65
28k 29k
sales
sh a res
sh a res
sales
sh ares
sh a res
5
In te rn a t'-o n a l S ilv e r . 100
90
H ist 5s 1920 ............M -N
92
6
P r e f e r r e d ................... 100
48
52 k
1,967
$ 30 ,100
‘2 0,349
$7,000
15,314
S a tu rd a y ........ 86.109
R a ilr o a d
1st 6s 1 9 4 8 .................J-D 105
108k
17,047
7,315
41,900
7,550
24,955
M o n d a y .......... 1 62,540
L a ck a w a n n a S t e e l . . . l o o
65
69
28,071
41,700 C h ic P e o & S t L p r e f. 100
4,785
14,280
8 ,500
T u e s d a y .......... 129,422
D e p o s ite d stock..............
3 k b a n sto n M o n o ty p e ........20 t 1 3 k 13*4
79,200
27,754
12,952
18,801
14.000
W e d n e s d a y . . 132,827
U n d e p o s ite d s t o c k ........
L a w y e r s M o r t l n s u r . i o o 189
191
l
k
3
k
29.S90
26,912
6
,014
14,209
10.000
9
6,408
T h u r s d a y ........
P r io r lie n g 4 k s ’ SOM&S
50
1|LehJa W ilk e s b Goal.oO
95
1 1,170
24,461
27,685
2 ,000
32,316
89,092
125
C on m tg g 5s 1 9 3 0 .J & J
L o r d & T a y lo r ............. l o o
60
1.35"*
100
I n c o m e 5s 1 9 3 0 ...............
P r e f e r r e d ...................l o o
6
103 k
10
$230,982
$49
,0
5
0
57,494
1 55 ,427
115,214
T o t a l............ 6 96 ,998
C h ic S u b w a y .................100
L o r 11ia.nl (P ) p re l . .. 1 0 0 140
41
150
73
F t W <fc D e n C y s t d ,.1 0 0
98 1*0*5** M a c k o " C om p a n ies ..1 0 o
73 k
70
G re a t N o rth e n O re See S tk E x list
P r e f e r r e d ................... l o o
70k
15
N Y N H & H a rtford —
M adison S q G a r d e n .. 100
25
75
C on d eb 3 k s 1 9 5 6 . J& J 2110
2 d 6s 1 9 1 9 ............... M-N
lllk
N o r t h n S e c u r itie s S tu bs 125
4k
H M anhatt B e a ch C o . 100
6k
175
P e n n , g u g 4 k % n otes
M anh B c h H o te l & L a n d .
A W e e k ly R eview o ' O utside M a r k e t w il l be- fo u n d o n a p r e c e d in g p a g e .
N o v i 1907........... M & N 2 9S 7e 99 k
P r e f e r r e d ...................100
P itts B e s s ite L E ..........50 t 32
IJGen. g. 4 3 - 1 9 4 0 ...M . N
36
S tr e e t R a ilw a y s
S tr e e t R a ilw a y s
A sk
B id
A sk
P r e f e r r e d .....................50 t 70
B id
M a n h a ttan T r a n s it ___ 20 t
<3
75
13
P u b S e r v C orp o f N J 1 0 0
ITIiailroad S e c u r itie s Co.
95
100
17
NEW YORK CITY
M e x N a t C o n stru c.p flO O
T r c t fs 2% t o 6% p erp et
31
33
B le e c k S t & F u i F s lk 100
111. C. stk. t r . cts. ser. A ’ 52
M itc h e ll M in in g ............10 t
68 k 69 k
5k
94
90
S eab oard A i r L in e —
92
C oll t r u s t 5s g o ld n o te s
7
H is t m o r t 4 s 185 0 ..J -J
M on on g a h ela K C o a l..5 0
235
1909 o p t io n a l....M -N 2 95
G o llt r 5 s l 9 0 7 o p ...M -S
96
93
UB’y & 7 th A v e stk ..1 0 0 228
P r e fe r r e d .....................50 t 26^4
99k
97
50
100
N
o
r
t
h
J
e
r
s
e
y
S
t
B
y
100
104
S
e
a
b
o
a
r
d
C
o
....
s
e
e
B
a
it
55
E x c h list
i ‘0 2 **
1 ]2 d m ort 5 s 1914 ...J -J
M o rtg a g e B o n d C o . . . 100
1st 4s 1 9 4 8 ......... M -N 2 75
112
76
C o n 5s 1 94 3 See S tock E x ch list
N a t B a n k ot C u b a ___ lo u 105
i n d u s t r ia l a n d M is c e l
76
C o n s T r a c o f N J . .. 1 0 0
L06
190
B ’ w a y S n r f l s t 5 s g u 1924 2104
N a tio n a l S u r e t y ..........100 170
76 k
310
A lim e e k M in in g .......... 25 f 113
1st 5s 1 9 3 3 ........... J-I> 2 1 0 5 k 106
IJCent’ l C roast’ n s t k . .1 0 0 280
N e v a d a C o n s ’d C o p p e r.5 t 18*4 19
115
N e w ’k P a s R y 5 s ’ 30J-J 2112
35
A llia n c e R e a lt y ..........100 132 k 137 k IlN ew C en tral C o a l ___ uo
115
113
40
111st M 6s 1922 ...M -N 111
R a p id T ra n s t R y . . l 0 0 245
195
A ilis C h alm ers C o 1st in
fiC en P k N <fc E R s t k . 100 190
N J T e r D o ck & I m p . 100
38
1 st 5s 1 9 2 1 ............A-O 3107
170
flC hr’ t’ r & 10th S t stk l o o 165
s f 5 s ! 3 6 o p t ’ 16 w i. J - J 2 31
N Y B is c u it 6s 1 9 1 1 .M -S 102
82
40
J C H o b & PatersonlO O
A m e r ic a n B o o k ..........100 160
i95**
C ol& 9th A v e 5s See S tock E x ch list
N Y M t g e < fc S e c u r it y .100 185
170
40
4s g 1 9 4 9 ............. M -N 1 70 >4 71 <4 A m e r ic a n B r a s s ......... lo t
45
IjN ew Y o r k D o c k ___ 100
132
D ry I) E B & B—
>
75
110
So J G as E l & T r a c 100 120 123
A m e r ic a n Can c o m .. . 100
111st g old 5s 1 9 3 2 ...J -D 103
I J P r e fe r r e d ............... 100
83
4 34
6 34
G u g 5s 1 9 5 3........M -S 2 98
P r e f e r r e d ...................100
100
1]S c r ip 5s 1914 . . . . F - A 100 plO-i
N Y T r a n s p o r t a t io n .. .2 0 t 4
4k
5 1 k 52
N o H u d Oo R y Os’ 14J-J 2108
E ig h th A v e n u e s t k .. lo u 370 385
A m e r ic a n C h icle C o. .100: 190
N ile s -B e m -P o n d c o m . 100 110
125
198
99
101
5s 1 9 2 8 .................... J-J 2107
P r e f e r r e d ...................100 100
N ip is s in g M i n e s ........
5 t 13 >4 133a
liS crip 6s 1 9 1 4 ___ F-A
105
400
E x t 5s 1 9 2 4 ........ M -N 2101
6
k
42(1 & G r S t F ’ y s t k . . 100 375
A m U ra plioplio c o m ..1 0 0
llO
n
ta
n
o
S
l
i
v
e
r
..........100
42
43
6 7a
50
60
70
P a t C ity c o n 6s ’ 3 1 . J-D 2119
P r e f e r r e d .................100
O tis E le v a to r c o m ___ 100
55
42(1 S t M & S t N A V ..1 0 0
83
84
94
i'd Os. ...1 9 1 4 o p t A -O 2100
105
A m e r H a r d w a r e ......... 100 113
P r e f e r r e d ................... 100
I jls t m o r t 6s 191 0 .M -S 102
97
118
h
ica
go
60
So
Side
E
l
(C
h
ic
)
See
C
65
A m i c e S e c u r itie s ___ See S tk E x list P h o e n ix S e c u r itie s .
lis t
1)2(1 in c o m e 6s 1915 J-J
t
k * fl8
S y ra cu se R a p T r o s 1946 2105
A m M a ltin g O s 1 9 1 4 .J -D 104
P it t s b u r g B r e w in g ___ 50 f 32 >4 3 2 k
I n ter b o r o-M etrop olita n —
106
106
P r e f e r r e d .....................50 t 51
C om m on. See S to c k Ex' ch a’ ge list T r e n t P & H 5 s 194 3J-D 2101
A jn e r P r e s s A s s o c ’ n .1 0 0
104
96
100
51k
P itts b u r g C oal See Stock E x c h list
A m Soda F o u n c o m . .1 0 0
P r e fe r re d . See S to c k E x c h a ’ g e list U n ite d R y s o f S t L —
1
3
42
C om v o t tr c t f s ........100
1s t p r e fe rr e d ............. 100
P o p e M a n u fa c t u r in g .!00
4 k % bonus. Sze S to c k E x c h list
43 k
35
3
45
^ P r e fe r r e d .................100
80
1s
t
p
r
e
f
e
r
r
e
d
............100
58
2d p r e fe rr e d ............. 100
8 0 34
L e x A v <fc P a v F 5 s .see.st k E x c list
5
63
10
G e n 4s 1 9 3 4 ___ See Stk E x c h list
2d p r e f e r r e d ........... 100
14
K .Vletropol S e c u r itie s 10u
A m e r S teel F o u n d r ie s —
16
112
U n itR y s S a n F r a n *S'eeStk E x ch list
jj. 6s 1 9 3 5............. A & O 2 95
9/
M e t r o p o l S tr e e t R y . 100 106
100
97 k P ratt <Sc W ln tn p r e f .. 100
W a sh K y & E l C o . . . . 100
18i»
4 0 14 40 k A m e r ic a n S u r e ty ......... j o
Ninth. A v e n u e s t o c k .100 170
1 8 7 k 192 k P u b lic S e r v C orp o f V a —
85 k 87
195
P r e f e r r e d ...................100
A m e rica n T h rea d p r e f ..5 f 4 k
l s t m g 5 s J u iy 1 9 3 0 o p t
95
S e c o n d .A v e n u e stocklO O 190
5
97 k
4s 1 9 5 1 .......................J-1)
102
85
R e a lty a s s o c (.B k ly u ilo o 155
8534 A m T o b a c ( n e w ) c o in lu O 360
•nist m ort 5s 1909 M -N 2100
i7 5
160
112
li W e s t C h ica g o S t ___ 100
25
See s t o c k E x ch lis t R o y a l ISak P o w d p r e f. 100 l o 4
P r e ld .........
30
C o n s o l 5 s 1 9 4 8 ___ F -A 4110
108
IjC on g 5s 1 9 3 6 ___ M -N
4 s a n d 68.......... See Stk E x c h list S a fe ty Car H eatifc L t 100 280
75
H Sixth A v e n u e stocit 100 163 J-73
<190
104
S e n e ca M i n i n g ............ 25 t ........
A m T y p e lo ’ rs c o m .. .1 0 0
38
S ou B o u le v 5s 1 9 4 5 ..J-J 2100
42
G a s S e c u r i t ie s
P r e f e r r e d ...................100
S in g e r M tg C o............. l o o
S o F e r 1st 5s 1 9 1 9 ___ 1 -0 2105 106
480 500*
98
100
X E W YORK
A m e r W r itin g P a p e r .1 0 0
T h ird A v e n u e See s t o c k E x cii list
9
4 *4 S tan d ard C o r d a g e ___ 100
3^4
11
P r e f e r r e u ..................
104
C en t U n G as 5s g ’27.JcfeJ 101
104
i s t M . g .5 s . ’ 3 i r e d .. A .O
T a r r y W P & M 5s 1928 §102
54
25
25^
56k
102
C o u G as (N Y ) s t k . See St k E x e h list
1st 8f g os ’ 19 op ’ 0 9 .J - J
I k e r s S t R K Os 1 9 4 6 A -0 aoo
84
A d ju s t. M .os. A p r 1,1931
85
16 k 18
107
C o n v d e b 6s c t fs A'eeStk E x c h list
JB a rn ey & Sm Car . . . l o o
28tli & 2 9 th S ts 1st 5 s ’ 96 «1 0 4
S tand ard C ou p ler comlOO
70
48
72
400
I jP r e le r r e d .................100 150
IIT w en ty -T li’ d s t stk l o o 375
11M u tu a l G a s ............... 100 165 200
P r e f e r r e d ........... . .. .1 0 0
l-<20 130*"
150
lo 7
N e w A m ste rd a m G as—
IJBethl’ m S teel C orp .1 0 0
U n ion K y 1 s t o s 1942 F-A 2105
7
9
18 k " 2 1 " Standard M illin g C'o.100
105
I J P r e fe r r e d ............... 100
W e s tch e s t 1st 5s ’ 43 J-J no 0
1st co n s o l 5 s l 9 4 8 . .J - J 2 97 100
P r e f e r r e d ...................100
V5
60
70
28
1 st e x t o s —See S tk E x c h a n g e lis t
N Y <fc E a st R iv e r G as—
I s t 5s 1 9 3 0 ............. j f - N
BROOKLYN
77
80
1 st 5s 1 9 4 4 .................J-J 2103
B liss C om p a n y c o m ___ 50 140
107
A tla n A v e os 1 9 0 9 ..A -O 2 99
S tand ard O il o f N J ..1 0 0 534
101k
145
533
P r e f e r r e d .....................50 130
S w ift & C o See B o s to n St t E x c il’ gb
C on sol 5s 1 9 4 5 ..........J-J 2 98
103
C on o s g 1 9 3 1 ..........A-O 2106
134
98
N Y & R ic h m o n d G as.10 0
38
100
B o n d i ; M tg G u a r ___ l o o
1 s t 5s 1 9 1 0 -1 9 1 4 .. .J - J 2 lo u
B B & W E 5s 1 9 3 3 ..A -O
3 /5
105
N o r U n 1st 5s 192 7-M -N 2100
T e n n e s s e e C o p p e r ........25 t 4 9 3 4 51
i b T ’ B o rd e n ’ s C o n d M il k ..l 0 0 174
178
B r o o k ly n C ity s t o c k .. .1 0 220 226
U Standard G as co m ..1 0 0
80 105
P r e f e r r e d ...................100 110
IjT exas do Paciti 0 Coal 100
74
C on o s See S to c k E x ch list
115
1!P r e f e r r e d ............... l o o
100
102
1 st 6s 19 0 8 ............... A -O 2105
B r itis h ;Jol C o p p e r ......... 5 t i l
120
B k ln C rosstn 5s 190 8.J -J 100
ilk
iio ‘*
i s t 5s 19 3 0 ............. M -N 104
107
T it le I n s C o o f N Y ..1 0 0 170
B u tte C oa lition M in .. 15
B k n H g t s 1st o s 1941 A -O 103
108
37
38
180
T o n a p a h M m (N e v a d a ) .1
O T H E R C ITIES
C a sein C o 01 A m com .. 100
B k ln Q C o & S u b See Stk E x ch list
18
2
5
18k
A m e r L ig h t & T r a c t . 100 JB103 110
P r e f e r r e d ...................lo u
T re n to n P o tte r ie s com lo o
B k ly n R a p T r a n See Stk E x ch list
75
14
85
17
P r e f e r r e d ...................100 X 96
C asualty Co o f A m e r . 10 0, 120
P r e fe r re d n e w ___ 100
IJConey Is. & B k lyn ..1 0 0 200
98
130
93
98
90
93
B a y S tate G a s ............... 50
T r o w D ir e c to ry new ..1 0 0
1 st c o n s g 4s 1 9 4 8 ..J-J
k “ lo C ellu loid C o ...................100 136
139
39
49
U n ion C o p p e r.................10 f
B in g h a m to n G as 5s 1938 2 96
Cent. F ire w o rk s c o m .l o o
100
15
B r k C & N o s 1 93 9. J-J 106
18
1
7b
B r o o k ly n U n io n G as d eb
P re fe rre d .................... 100
Gr*pt cfeL onm er S t 1st 6s 103
U nion T y p o w r c o m .V i 00
68
73
bo
90
6s 1909 c o n v ’ 0 7 . ..M -S 110 125
C en tral F o u n d r y ........100
K in g s Co. E le v a te d —
1st p r e fe rr e d ........... .1 0 0
3
118
3k
122
P
r
e
f
e
r
r
e
d
..................
100
6
1st 4s 1949 See S tock E x cli
B u ffalo C ity G as stocklO O
2
d
p
r
e
fe
rr
e
d
.............
100
16
8
17
118
122
65
N a s s a u E ie c p r e f........100
1st 5s 1947 See S t o c k E x c h list
D e b 63 191 9 op ’ 01 Wl-N
73
71
U n ited B k N o te C orp 50 t 62
P r e fe r re d .................50 t 52
C on sol G as o f N J —
C en tral L e a th e r ..........See S tk E x list
o s 1 9 4 4 .......................A-O 105
55‘ *
1s t o s 1 9 3 6 ................. J-J 2 90
C e n tu ry R e a lt y ..........100
200
1 s t 4s 19 5 1 ............See St k E x c li list
ITUn it e d c ig a r M fg .,p £ 100
92
93
95
101
C o n su m e rs’ L H & P o w —
C n e se b ro u g h M tg Co 100 4 ‘i o " 440
U nited C o p p e r............. 100
N W b ’ g < f c F i a t l s t e x 4 k s 100
72
71
114
5s 1938........................ J-D 2104
S tein w ay 1st 6s 1 9 2 2 . J-J {1 1 0
C h ic P n e u in T o o l. See Ch ica g o ll8t
P r e f e r r e u ...................100
90
95
E liz a b e tli G as L t C o .. 100 275
OTHKlt CITIES
105
C ity I n v e s t in g C o ___ 100 100
U . S. C a s u a lty ............. l o o 2^5
E s s e x & H u d so n G as 100 125
B u ffa lo S tr e e t K y—
40
110
IJCtatiiu (H B ) c o m ___ 100 104
U S E n v e lo p e c o m __ 100
129
45
93
111
1 st c o n s o l o s 1 9 3 1 ..F -A 2109
F o r t W a y n e 6s 1 9 2 6 ..J-J
111st p r e ie r r e d ......... 100
50
101
li P r e ie r re d ................. 100 100
57
1i2d p r e ie r r e d ............100
93
Gas<& El B e r g e n C o ..1 0 0
D e b 6s 1 9 1 7 ............. A .O 2105
U S R u b 2d p f See S to ck E x ch l is t
60
G ra n d R a p id s G as—
C olo In d u stria l. See S to c 'kk E
Kx
x list
C h ic a g o C ity K y
See C h ica go list
U S S teel C o r p o r a tio n —
H is t 5s 1 9 1 5 ............F -A 2102
Col & H o c k Coaldfc I pt l o o
74
C o lu m b u s (O ) S t R y . . l 0 0 101
76
C ol tr s f o s ’ 51 o p t ’ 11 .. 2112
103
lO ik
11254
P r e f e r r e d ................... 100 108 k 110 k H u d so n C o G a s............100 113*4 114
1st g o s 1 9 1 7 ..........J -I 2 X2
C o l t r s f 5 s ’ o l not o p t .. 2112i4
85
C olu m R y c o n 5s z e e Ph ila list
In d ia n a N a t & 111 G as—
C ol tr 6s O ct 1 9 5 6 .. J-J
97 1 0 1 k U S T it Gu<fc In d em .lO O
110
1st 6s 1 9 0 8 ............. M-N'
20
C onaolid C ar H e a lin g 100
55
C r o s s t’ w n l s t 5 s ’ 33.J-D 2107
U ta h C op p er C o ........... 10 t 38 "a 40
25
60
109 k
67
In d ia n a p o lis G a s ..........50
Cona R y Ltg»fcK etrig. 100
70
G ra n d R a p id s R y ___ 100
67
W e s tch e s te r & B r o n x
3
72
4
C
on
sol
R
u
b
b
e
r
T
i
r
e
.
.1
0
0
P r e f e r r e d ...................100
87
1st
g
5s
1952............A-O
90
T it le & M o r t G u a r . 100 175
2 98
ICO
4
4k
P r e f e r r e d ...................1001
L a k e S t (C h ic) E l
See O h ica go list
J a c k s o n G as 5s g ’ 3 7 . A-O 2 95
W e s tiu g h A i r B r a k e ..50 1 155
100
14
18
D e b e n tu r e 4s 1951 AcfcO
IJLou isv St 5s 1 9 3 0 ..J & J 21 10k 111
K ansas C ity G a s ..........100
50
35
38 k *l W est E le c & M fg —
1|Lf»clede G a s ............... 100
C on s s t o r a g e B a tte r y io u !
L y n n & B o s 1 st 5s ’ 2 4 . J-D 2107 k 110
C on sf 5s ^ee S to c k E x c h. list.
ioo*
8
11
32
* » * i"
33
TJNevr O rl R y s & L g t. 100
li P r e fe r re d ............... l o o
C orn P r o d R e f See S t o c k E x ch list
W h ite K n o b M in ..........l o
•'Sg
80*4 L a ta y’ e G a s ls t 6s’ 24.M -N
P r e f e r r e d ............... 11*0 s SO
C ram p s’ Sli<teEn B ld g lo o !
44
P r e fe r re d ...................... 10
3k
50
15 i 20
3°t
liC ru cib le S t e e l........... l o o !
1 J G e n M g 4 k s ’ 35 See S tk E x lis t L o g & W a b V l s t 6 s ’25.J-D
30
10a4 I l k W o r th in g P u m p p r e f. 100 116
35
120
N o r t h C h ic S tr e e t See C h ica g o list M adison G as 6s 1926. A-O 21 0 6 k 110
P r e f e i r e d ........ ........1001
77 1 771!;
4 B u y e r p a y s a c c r ’ d int. f P r ic e p er sh. t s a la p rice . a E x -r ig h t s .* E x -d iv . t N e w sto ck . IlSells o a S t’ k E so ti., o u t n ot u r o r r a c u v a ja c a r it y .
G a s S e c u r i t ie s
B id
N e w a r k G as 6s 1 9 4 4 .Q-J 2131
90
N e w a r k C on sol G a s .. 100
U C o n g S s 1 9 4 8 ........J-D 105
N o H udson L H & P o w —
os 1 9 3 8 ...................... A-O 2105
1(0 <fe In d C N a t & I U .1 0 0
1st 6s 1 9 2 6 ............... J-D '2 9 '
P a t & P a s G as <fc EleclOO
11 C o n g 5s 1 9 4 9 .... M -S 2100
St J o s e p h G as 5 s 1937. J-J 2 84

68

6

Outside Securities




1

THE CHRONICLE.

J a n . 19 1807.]

153

;m r £ s lm je t x l a m i R a i l r o a d %n\z\Xi%zutz<
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 add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with July, but covers some other
period. The returns of the street railways are brought together separately on a subsequent page.
Latest G ross E a rn in g s.
W eek or
M o n th .

ROADS.

A la G reat S outhern
A la N O & T e x Pac.
K O & N B a st.
A la & V ic k sb u r g .
V ic k s b u r g Sh & P
A la T e n n & N o r t h . .
k A tch T o p & S F e .
A tla n ta & C h a r i-_
A tla n Iilrm & A t l ’c
A tla n tic C oast L ine
B a ltim o re & O h io
B a n gor <fc A ro o s to o k
B elle fo n te C e n tr a l. .
B rid g e to n & S a co R
Butt R o c h & P lt t s .
B u ifa lo & S u sq ____
Cal N orth w estern
C a n adian N o rth e r n .
C a n a d ia n P a c ific ___
C en tral o f G e o r g i a ..
C en tral o f N J e r s e y .
C h atta n S o u th e r n .
C h esapeake & O hio
C h esterfield & Lane
C h ica g o & A lt o n R y
C h ic G reat W estern
C h ic In d & L ou isv
C h ic In d <fc S outhern
C h ic M llw <fc St Paul
C h ic & N o rth W e s t C h ic St P a u l M & 0 C h ic T e r m T r R R .
C in N O & T e x a s P a c
C ln cin n a t' N orthern
C le v Cin C h ic & St L
C o lo r a d o M id lan d
h C o & S ou th S y s . .
C ol N e w b & L a u r ..
C o p p e r R a n g e .. .
C o r n w a l l ________
C orn w all & L eb an on
D e n v e r & R io G r .
D e tr o it & M a ck in a c
D e t T o l & Ir o n t Sys
D u l R L & W in n ip
D hI S o S h ore & A t l .
K rle________________ E v a n sv ille & T e r H
F a ir c h ild & N E ___
F o n d a J o h n st & G l.
G eorg ia R R _____
G eprgla C oa st & P ’t
G eorg ia S ou th & Fla
G ra n d T ru n k S y s . .
G r T r u n k W e s t ..
D e t G r H & M ilw
C a n a d a A tla n tic .
G re a t N o rth e r n ____
M on ta n a C en tra l.
T o ta l s y s t e m ____
G u lf & S h ip Isla n d H o c k in g V a lle y ____
Illin ois C e n t r a l____
In te r & Gr N orth . .
a ln t e r o c e a n ic (M ex)
I o w a C en tra l_______
K a n a w h a <& M i c h . .
K a n C ity S o u th e r n .
L a k e E rie <fc W e s t ’ n
L a k e S h ore & M Sou
L eh ig li V a lle y _____
L e x in g t o n & E a s t . .
L o n g Is la n d ________
L ou isian a & A r k a n .
L o u isv ille & N a s h v .
M a con & B ir m ln g ..
M anistee & N o E ___
M a n ls tlq u e _________
M a ry la n d &. P e n t i..
a M exica n C e n tr a l..
a M exica n In te r n a t.
a M ex ica n R a ilw a y .
a M exica n S outhern
M ich ig a n C entral
M ineral R a n g e--------M in n eap & St L ou is
M in n S t P & S S M .
M o K a n & T e x a s ___
M o P a c & Iron M t ._
Cen tral B r a n c h ..
T o t a l . . . ________
M ob ile J a ck & 1C C
M o b ile & O h io
N ash C h att & St L .
a N a t R R o f M exico
H id a lg o & N E _ .
N e v -C a l-O reg on ____
N e v a d a C e n tr a l____

Cu rrent
Y ea r.

P reviou s
Y ea r.

Latest G ross Earninrjs.

J u ly 1 to Latest D a te.
C urrent
Y ear.

W eek or
M on th .

C urrent
Y ear.

D e ce m b e r
D ecem b ers
D e ce m b e rn
N ovem ber.
D e ce m b e r n
D e ce m b e r s
N ovem ber.
N ovem ber.
N ovem ber.
N ovem ber.
D e ce m b e r
— See N e w
N ovem ber.
N ovem ber.
N ovem ber.
N ovem ber.
D e ce m b e r
O cto b e r . _
N ovem ber
N ovem ber.
— See N ew
N ovem ber.
N ovem berX ov em b er.
— See N ew
N ovem ber.
N ovem ber.
N ovem ber.
N ovem ber.
S ep tem b er
O cto b e r . .
1st w k Jan
N ovem ber.
N ovem ber.
N ovem ber.
N ovem ber.
— See N ew
N ovem ber.
— See R o c k
2d w k Jan
N ovem ber.
D e ce m b e r
D e ce m b e r
N ovem ber.
1st w k Jan
1st w k Jan
4th w k D ec
4th w k D e c
D ecem ber
1st w k Jan
2d w k Jan
S ep tem b er
N ovem ber.
ls t w k Jan
1st w k Jan
N ovem ber.
D ecem ber
N ovem ber.
D e ce m b e r
2d w k Jan
d w k Jan
N ovem ber,
d w k Jan
O cto b e r . .
O cto b e r . .
N ovem ber.
D e ce m b e r

5
8,0 6 2 ,0 0 0
3 ,468,000
447,000
202,666
2,1 2 2 ,0 0 0
2,1 6 9 ,0 0 0
253,781
82,194
1,261,897
233 ,420
930,741
Y o r k Cen
639,174
220,842
2,563,640
1,058,937
5,7 6 8 ,2 8 7
654,459
131 21717
In c . 53
Y o r k Cen
1,415,059
818 ,908
2,528,928
Y o r k Cen
9,071
3 ,043,364
3,7 8 1 ,5 3 6
7 ,424,900
126,724
79,897
10,549
5,0 7 1 ,1 9 3
4,1 3 6 ,9 2 2
201 ,080
9,4 0 9 ,1 9 5
Y o r k Cen
126,275
Isla n d Sy
179,130
1,388,093
35,529
135,619
11224818
967,103
175,022
238,283
133,515
181,344
25,722
344,287
6,357
399,284
23,033
80,409
4,849
66,272
6,6 4 6 ,5 9 6
70,944
482 ,658
101,809
331 ,063
104,237
12,764
662,119
21,154
977 ,793

P revio u s
Y ea r.

S
I
s
— See S ou t hern R a il!w a y .
D e ce m b e r
300 ,327
257,184 1,613,612 1,391,396
650,214
D ece m b e r
766,671
1 5 3 ,8 4 8 1 137,966
578 ,465
D ece m b e r
805,551
153,740; 127,913
16,892
N ovem ber.
18,024
3,934i
4,069
N o v e m b e r . 7 ,9 1 6 ,4 8 3 7,1 4 2 ,3 1 6 37,6 7 2 ,9 6 2 3 2 ,867,218
O cto b e r _ .
373,844! 378,469 1,417,310 1,367,457
450 ,460
N ovem ber.
636 ,20
130,121!
81,391
N o v e m b e r . 2 ,2 5 9 ,3 7 5 j2 ,1 1 5 ,770 10,178,033 9,2 9 7 ,7 0 5
D ece m b e r 6,720,001 6 ,450,520 41,7 7 1 ,1 9 7 3 8 ,610,408
969 ,208
287,0621 188,628 1,294,126
N ovem ber.
r>,0 8 G
31,153
29,084
D ece m b e r
5,1971
23,922
3,512
22,833
N ovem ber.
3,947i
163,624! 160,023 4 ,5 6 5 ,6 6 0 4 ,9 3 5 ,2 5 4
2d w k Jan
654,871
153,916! 131,926
751,048
N ovem ber.
975,771
957 ,095
128,563! 119,241
D ece m b e r
78.800 4 ,0 2 3 ,2 0 0 2,7 7 2 ,0 0 0
107,100
1st w k Jan
8 99 ,000 1,022,000 39,3 6 1 ,3 7 5 33,3 7 3 ,7 9 4
2d w k Jan
239 ,200
187,600 6 ,359,877 6,0 6 7 ,6 8 9
1st w k Jan
N o v e m b e r . 2,193,861 2 ,078,076 11 ,190,977 10,716,091
65,956
3,348
2,792
78,666
4th w k D ec
N o v e m b e r . 2 ,1 1 1 ,2 3 6 2 ,033,482 10,531,746 9 ,8 1 6 ,3 2 6
4,320!
3,404
15,333
19,144
N ovem ber.
N o v e m b e r . 1,058,849 1,043,404 5,5 5 7 ,5 0 9 5,1 7 3 ,4 6 0
166,400
151.243 5,3 3 0 ,2 8 7 4,8 6 1 ,4 1 6
2d w k Jan
89,3601
85,685 3,1 8 4 ,2 6 3 3,2 0 4 ,3 2 3
1st w k Jan
— See N ew Y o r k C e n tr a l.
N o v e m b e r . 5 ,2 0 0 ,3 8 2 )4 ,9 7 2 ,5 8 9 26,4 6 9 ,9 2 6 2 4 ,256,172
N o v e m b e r . 5 ,9 2 9 ,3 0 8 5,6 3 6 ,9 2 6 30,1 6 2 ,9 0 5 2 7 ,841,378
N o v e m b e r . 1,293,610! 1,254,120 6 ,123,360 5,848,561
2 8,074!
32,405
903 ,155
1st w k Jan
900 ,758
R a iilw a y
— See S ou t hern
— See N ew Y o r k C en ,tral.
— See N ew Y o r k C en itral.
917 ,945
220,657! 199,506 1,100,408
N ovem ber.
277 ,879
235,992 7,0 3 6 ,9 0 5 6 ,251,276
1st w k Jan
116,933
27,482|
26,00?
126,638
N ovem ber.
67,162,
62,679
236,150
281,279
O cto b e r - 16,993
15,194
77,228
93,872
N ovem ber.
38,074|
38,652
191,038
209 ,948
N ovem ber.
358,000 1 1 ,575,788 10,799,908
383 ,600
l s t w k Jan
559,941
20,133
648,513
21,303
1st w k Jan
81,546
2,258,831 2,1 7 5 ,0 8 5
1st w k Jan
84,274
141,644
28,459
23,203
Novem ber.
39,864 1,745,089 1,592,866
51,709
1st w k Jan
N o v e m b e r . 4,636,2351 4,41 1,2 20 22,830,681 2 1 ,621,519
— See R o c k Isla n d S jyste m .
10,523
7,461
1,875)
2,479
N ovem ber.
337,149
56.705!
52,041
364,660
N ovem ber.
277,432| 250,228 1,279,101 1 ,203,676
N ovem ber.
7,7001
N ovem ber.
— See S out hern R a il ’w a y .
613,954 23,4 0 5 ,6 6 6 21,363,559
756,517
1st w k J a n
162,336 3,1 0 7 ,3 7 2 2,844,286
163,835
4th w k D e c
811,751
49,360
9 54,316
62,588
4th w k D e c
45,565 1 ,095,157 1,062,463
46,022
4 th w k D e c
D ece m b e r 3 ,659,178 4,101,019 29,136,425 2 6 ,750.189
256,823 1,438,821 1.379,297
235,678
D ece m b e r
D e ce m b e r 3,8 9 4 ,8 5 6 4,357,842 3 0 ,575,246 28,129,486
45,080 1,235,700 1,039,667
59,272
1st w k Jan
5S7.995 2 ,9 9 7 ,5 2 5 2,857,731
N o v e m b e r .! 564,082
4,937,802 4,654,564 27,9 2 1 ,4 1 0 25,319,221
D ece m b e r
165.000
113.000 4 ,839,561 3,920,635
2d w k Jan
123,300
110,254 3,5 7 0 ,7 7 9 3,0 7 2 ,0 9 2
1st w k Jan
56,079 1 ,278,774 1,634,242
61.749
2d w k Jan
195,774
180,442,
905 ,907
988,995
N ovem ber.
762 ,706
677 .S7-" 3,6 0 6 ,5 7 4 2,9 5 7 ,6 2 6
N ovem ber.
— See N ew Y o r k Cen tral.
— See N ew Y o r k Cen tral.
N o v e m b e r . 2,943,009 3 ,0 7 4 .5 5 6 1 5,552,713 1 4 ,563,588
220,876
40,683
43,314
N ovem ber.
237 ,988
I n c . 79, 0G4
I n c . 531, 785
N ovem ber.
76,151
389,329
5 0 7 ,C34
88,593
N ovem ber.
918,155
782.635 24,725,491 21,8 6 5 ,3 1 4
1st w k Jan
13,625
15,319
84,572
82,666
D ece m b e r
26,195
26,098
O cto b e r _ .
5V .08I
45,305
5,067
4,448
D ece m b e r
166,467
31,020
161,644
N ovem ber.
29,409
N o v e m b e r . 2,574,375 2,152,430
121,414 4,0 0 5 ,8 5 0 3,398", 090
1st w k Jan
134,551
4th w k D e c
183,700 3,5 9 0 ,3 0 0 3,1 6 2 ,0 0 0
181.000
4th w k D e c
579,328
613,520
29,248
30,953
— See N ew Y o r k Cen tral.
1st w k Jan
395,745
410 ,022
11,894
11,258
2d w k Jan
63,947
60,339 2,0 9 0 ,0 7 4 2,1 3 6 ,2 5 8
1st w k Jan
1 7 8 ,35ft
200,579 6 ,920,483 6,3 5 0 ,3 0 4
2d w k Jan
3 3 5 ,4 1 # 14,274,192 11,983,992
4 96 ,627
2d w k Jan
853.000
7 98 .000 25,343,569 23 .032,569
26,000i
2d w k Jarr
889,32 " 1,092,313
31,000
2d w k Jan
879.000
829 .000 26,232.891 ! 24,124,882
S ep tem ber
108,413
188,750
343,459
64,761
— See S ou t hern R ail jw ay.
913 ,227 ! 904 ,160 4,713,8831 4 ,3 6 6 ,9 7 4
N ovem ber.
274,216
265,226 7,656,640! 6,910,601
l s t w k Jan
16,624
523,340
1st w k Jan
130,666
17,605
14,156
D ece m b e r
153,722
4.201
21,556
32,213
4.387
N ovem ber.

N Y C & H u d R iv e r
L a k e Sh ore & M S
L a k e E rie & W e st
C h ic In d & S ou .1 .
M ich ig an C e n tr a l.
C le v e C C & St L .
P e o ria & E astern
C lncin N o r th e r n .
P ltts & L a k e Erie
R u t l a n d _________
N Y C h ic & S t L .
N Y C h ic & St L ou is
N Y O n t & W estern
N Y S u sq & W e s t . .
N o rfo lk & W e s te rn .
N o rth e rn C e n t r a l..
N o rth e rn P a c ific ___
P a cific C oast C o ___
d P e n n — E a st P <fc E
d W e s t P & E ____
P e o ria & Eastern
P h ila B alt & W a s h .
P h ila d e lp h ia & Erie
P itts C in C h ic & S tL
P itts & L a k e Erie
R a le ig h & S o u th p o rt
R e a d in g R a i l w a y ..
C oal & Ir o n C o . .
T o t a l b o th c o s ___
R ic h F r e d ’k s b ’ g & P
R io G ra n de J u n e ___
R io G ra nde S o u t h . .
R o c k Isla n d System
e St L & San Fran
f E vansv & T er H
T o t a l o f all lin e s .
R u tla n d
S t Jos & G rand I s l.
S t L & San F ran
St L ou is S o u th w e s t.
S e a b o a rd A ir L in e . .
Sierra R a i l w a y ____
S o u th e rn In d ia n a . .
cS o u th e rn P a cific C o
S o u th e rn R a il w a y ..
M o b ile & O h io ___
Cin N O & T e x P .
A la G rea t S o u t h .
G a S o u th & F i a . .
T e x a s C e n t r a l_____
T e x a s & P a c ific ____
T id e w a te r & W e s t .
T o le d o & O h io Cent
T o le d o P e o & W e s t .
T o le d o St L & W e s t
T o m b ig b e e V a ll e y ..
T o r H a m & Bufralo
U n io n P a cific S y s t.
V irg in ia & So W est*
W a b a s h ____________
W e ste rn M a r y la n d W e s t Jersey & S ea’ e
W h e e l & L a k e E r ie .
W 'm s p o r t & N B r . .
W isc o n s in C e n tr a l. .
W r ig h ts v & T e r m ..
Y a z o o & M iss V a lley

July 1 to Latsl D a te.

P rev iou s
Y ea r.

S
S
7 ,746,084 4 9 ,5 1 9 ,8 7 6
3,5 4 9 ,0 7 3 21,8 4 3 ,8 0 0
455,244 2,721,821
189,265
952,259"
2 ,0 2 6 ,1 2 s 113,4 6 8 ,0 0 0
2,0 4 1 ,5 7 9 1 3 ,232,000
312,052 1,3 2 8 ,7 0 6
469 ,3 4 2
68,535
1 ,213,165 6,3 0 5 ,1 7 3
214,476 1 ,311,272
979 205 5,0 1 6 ,2 0 9
tral.
620,628 3 ,7 0 1 ,5 7 3
236,771 1 ,229,346
2,2 9 9 ,3 0 4 12,642,569
965,637 5,2 6 8 ,7 1 4
5 ,2 7 6 ,1 5 4 36,736,851
5 82,824 2 ,4 4 2 ,1 2 7
12 516317 65,387,424
I n c .3,71
1,800
tral.
1,302,659 7,1 0 3 ,8 3 5
843,439 4,0 3 7 ,4 8 5
2,4 6 1 ,5 1 8 1 2 ,7S 1,770
tral.
5 363
37,087
3,6 1 8 ,9 6 0 17,527,469
4 ,239,230 14,024,017
7 ,8 5 8 ,1 9 0 31,5 5 1 ,4 8 6
119,915
414 ,397
63,894
282 ,758
10,264
330 ,786
4,5 5 3 ,4 3 8 24,7 9 7 ,8 8 7
3,852 ,288 2 0 ,0 1 8 ,3 6 4
191 310 1 ,009,959
8 ,5 9 7 ,0 3 6 45,8 2 6 ,2 1 0
tral.
721 ,575
123,981
stem .
150,288 5 ,7 0 7 ,8 2 3
1,282 559 6,3 2 1 ,6 1 5
235,993
28,412
830,050
119 372
9,6 1 8 ,7 9 9 50,8 1 0 ,4 8 2
909 223 29,289,471
149 095 5 ,2 5 4 ,1 6 0
244 225 4,3 1 9 ,4 3 1
117 167 2 ,0 1 9 ,1 2 0
168,452 1,0 7 5 ,2 7 9
16 529
634 ,955
250 ,005 8 ,8 5 4 ,7 1 3
7,605
22,446
365 276 2,1 4 3 ,1 8 2
19,561
670 ,999
67,777 2,1 8 4 ,3 5 0
24,598
4,117
393 ,213
68,456
6,109 535 3 2,607,215
497,698
76,485
476 ,3 6 8 1 5,085,274
85,216 2,8 8 1 ,9 5 5
290 ,063 2 ,7 5 3 ,5 3 2
93 534 3,240,881
13 538
62,808
649 150 2,6 0 2 ,7 8 1
18 827
99,360
930 522 4,60S ,252

P eriod.

V a rio u s F is c a l Y ea rs.
A tla n ta & C h a rlo tte A ir L in e ___
B e lle fo n te C e n tra l_______________
M anistee & N o rth e a ste rn _______
M a n ls t lq u e _______________________
M e x ica n R a ilw a y ________________
M e x ica n S o u t h e r n _______________
N ew Y o r k C e n tr a l_______________
L a k e S h ore & M ich S o u th e r n .
L a k e E rie & W e s t e r n --------------I C h ica go In d ian a & S outhern
M ich iga n C e n tra l_____________
C leve Cin C liic & St L o u is ___
P e o r ia & E a stern _____________
C incinnati N o r t h e r n _________
P itts b u r g h & L a k e E r ie ______
R u t l a n d ............................. ............
N Y C h ica g o & St L o u is ______
N o rth e rn C e n tra l________________
d P e n n — E ast o f P itts & E r ie___
d W e st o f P itts & E r i e . . . ------P h ila B a ltim o re & W a s h in g to n .
P h ila d e lp h ia & E rie --------------------P itts Cin C h ic & St L o u is _______
R io G ra nde J u n c t io n ____________
T e x a s cfc P a c if ic _________________
W e st Jersey & S e a sh o re ________

M ch
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
J an
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
D cc
Jan
Jan

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
1

to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to

Current
Y ear.

O ct
D ec
O ct
D ec
D ec
D ec
D ec
D ec
D ec
N ov
D ec
D ec
N ov
N ov
N ov
N ov
D ec
N ov
N ov
N ov
N ov
N ov
N ov
O ct
Jan
N ov

31
31
31
31
31
31
31
31
31
30
31
31
30
30
30
30
31
30
30
30
30
30
30
31
14
30

P reviou s
Y ea r.
s
4 6 ,9 0 6 ,0 3 7
20,433 ,800
2,747 ,929
892 ,290
1 2 ,556,700
12,286,300
1,351 ,386
392 ,907
5 ,6 6 8 ,7 0 0
1,2 0 4 ,4 9 0
4 ,7 6 5 ,8 2 0
3 ,4 3 0 ,4 9 7
1,181 498
11,612 ,635
4,696 ,214
3 2 ,9 6 6 ,2 0 6
2,4 5 5 ,6 6 1
5 9 ,9 7 7 ,0 2 4
5,400
6.382 735
3 ,939,291
11,752 838
25,253
17,4 0 8 ,7 1 4
14,678 ,259
3 2 ,0 8 6 ,9 7 3
380 ,4 0 5
2 36 ,657
306 ,105
22,468 ,516
17,823 ,875
968 ,724
4 1 ,2 6 1 ,1 1 5
665 ,932
4,8 9 1 ,4 5 5
5 ,9 9 8 ,0 8 6
184 490
725 888
4 4 ,6 7 4 ,0 0 5
27,513 665
4 ,6 6 3 ,3 5 7
4,032 506
1,8 5 1 ,0 9 2
939 ,015
536 ,361
6,9 7 2 ,6 4 2
21 ,099
1,871 420
708 ,8 4 0
2,199 296
18 561
368 ,853
30,241 885
478 730
13,585 532
2,471 508
2,551 532
2 ,9 8 6 ,5 9 0
67 621
2,491 366
91 525
3 ,8 9 0 ,4 0 0

C u rrent
Y ea r.

P reviou s
Y ea r.

* 2 ,7 4 7 ,0 8 3
57,068
3 65 ,747
96,462
7 ,0 8 7 ,3 0 0
1,245,341
92,3 9 9 ,1 0 0
42,4 5 0 ,9 0 0
5 ,2 4 7 ,2 0 0
2,0 9 8 ,5 2 2
26,0 8 7 ,1 0 0
24,5 9 4 ,9 0 0
2,7 9 0 ,2 6 3
945,103
13,3 5 2 ,3 2 9
2,5 7 9 ,1 4 0
9 ,9 0 2 ,2 0 8
10,744,608
135214273
I n c .8 ,12
1 4,617,246
7 ,7 0 3 ,4 0 7
26,9 3 4 ,3 2 9
653,483
660,392
4,9 2 4 ,0 8 4

$2,611 ,686
60,633
361 ,824
92 676
6,293 100
1,197 220
86,095 600
38,6 0 0 ,8 0 0
5 ,0 3 7 .3 0 0
1.929 163
2 3 ,2 8 3 ,9 0 0
22,517 700
2,658 292
772 556
11,721 ,992
2 ,3 4 6 ,7 8 2
9 ,1 0 8 ,7 3 0
9,692 308
121951873
3,700
13,452 746
7,584 384
24 ,291 763
547 ,6 9 3
488 238
4 ,3 8 3 ,7 8 4

AGGREGATES OF GROSS EARNINGS— Weekly and Monthly.
M on th ly S u m m aries.
1st w eek
2n d w eek
3d w eek
4 th w eek
1st w eek
2d w eek
3d w eek
4 t h w eek
1st w eek

N ov
N ov
N ov
N ov
D ec
D ec
D ee
D ec
Jan

(44
(4 3
(44
(45
(41
(43
(41
(39
(40

r o a d s ) ____
r o a d s ) ____
r o a d s ) ____
r o a d s )____
roads) _ .
roads)
r o a d s ) ____
r o a d s ) ___
r o a d s ) ____

C ur'nt Year P rev's Year. In c . or D ec.
S
10.5(13.849
11 ,028 072
11 ,194 ?5I
14,843 4 0 9 ,<) 12 **77
10.164 107
9 .9 4 3 .0 8 6
1 ! .365 803
8 ,8 8 9 ,4 4 9

s
9 ,5 8 4 ,7 5 2
9,9 3 8 ,0 0 2
10,496,593
13.763,769
8.9 8 9 .3 4 2
9.5 3 1 ,7 0 5
9.331,461
13.162,829
7,8 1 9 ,5 7 0

+
+

+
+

%

M o n th ly S u m m aries.

S
+ 925 ,097 9.65 : M on th A p ril
1 ,090,070 10.97
M on th M av
+ 697.658 6.64
M on th Jun e
1,079,633 7.84 1 M o u th J u ly
+ 9 2 2 ,9 3 5 10.27 ! M on th A u g
4-032.402 6.63
M onth S ep t
+ 611,625 6.55
M on th O ct
1,202,974 9.14
M on th N o v
1,069,879 13.68
M on th D e c

1906
1908
1906
1906
1906
1906
1906
1906
1906

(111
(124
(113
(117
(118
(122
(119
(69
(65

ro a d s ).
roads) .
roads) .
r o a d s ).
roads) .
roads)
ro a d s ).
roads) .
roads) .

C u r’ nt Year Prev's Year.
S
136 ,685 ,53 7
1 5 2 ,183 ,74 2
146,010,301
168,336,461
179 ,191 ,94 5
184.551,471
198 ,733 ,22 9
8 7 .1 1 9 ,7 5 0
8 3 ,7 9 6 ,3 3 2

S
128 ,005 ,77 5
138 ,557 ,87 2
130 ,233 ,29 3
148,013,565
15 9 ,835 ,02 2
171,553,520
179 ,405 ,26 7
83,2 5 0 ,0 8 4
79,3 2 7 ,1 1 7

In c. or D ec.
S
+ 8 ,679.762
+ 13,625,870
+ 15,7 7 7 ,0 0 8
+ 20,3 2 2 ,8 9 6
+ 19,3 5 6 ,9 2 3
+ 12,997,951
+ 19,327,962
+ 3,8 6 9 ,6 6 6
+ 4 ,4 6 9 ,2 1 5

6.78
9.83
12.11
13.73
12.11
7.58
10.77
4.65
5.64

<; M exica n cu r r e n c y , b In clu d e s earnir-gs o f G u lf & C h ica go D ivisio n ,
c In clu d e s th e H o u s to n & T e x a s C en tral an d Its s u b sid ia ry lines in b o th
y ea rs, d C ov ers lines d ir e ctly o p e r a te d ,
c In clu d e s th e C h ica go & E a stern Illin ois In b o th y e a rs,
f In c lu d e s E v a n s v ille <& In d ia n a R R .
tv In clu d es
earnings o f C ol. <Sc S o u t h ., F t. W o r th <fc D e n v e r C ity and all a ffilia te d lines, e x c e p tin g T r in ity & B razos V a lle y R R .
fc In clu d e s in b o th years learnings
o f D en ver E nid & G u lf R R . , P e co s S y ste m and San ta F e P re sco tt & P h o e n ix R v .
I F igures prior to A pril 10 1905 are th o se o f th e In d ia n a Illinois & Io w a
an d In dian a H arbor o f Indiana,
n T h e se figures are an a p p ro x im a tio n o n ly .




THE CHRONICLE

154

Latest Gross Earnings by Weeks.
For the first week of January our final statement covers
40 roads and shows 13.68% increase in the aggregate over
the same week last year.
F ir s t w eek o f J a n u a ry.

In c r ea se . D ecrea se.

P r e v io u s ly r e p o r te d (16 r o a d s ) C en tral o f G e o r g ia _______________
C h ica g o In d ia n a p & L o u ls v ____
C o lo r a d o & S ou th ern (in clu d in g
F t W o r t h & D e n v e r C i t y ) ____
D e tr o it & M a c k in a c _____________
D e tr o it , T o le d o & I r o n t o n ______
D u lu th S o u th S h ore & A t la n t ic .
G ra n d T r u n k o f C a n a d a _______ 1
G ra n d T r u n k W e s t e r n _______ i
D e tr o it G ra n d H a v & M ilw -|
C a n ada A t la n t ic ______________J
G u lf & Ship Is la n d _______________
I n te r o ce a n ic & M e x ic o _________
L o u is v ille & N a sh v ille___________
M e x ica n I n te r n a tio n a l__________
M in era l R a n g e ___________________
M in n ea p olis St P a u l & S S M ___
M o b ile & O h io ___________________
N a tio n a l R R o f M e x ic o __________
R i o G ra n d e S o u t h e r n , i ________
S o u th e r n R a ilw a y _______________
T e x a s C e n tr a l____________________
T o le d o P e o r ia & W e s t e r n _______
T o le d o St L ou is & W e s t e r n ____
W h e e lin g & L a k e E r ie ___________

4 ,2 8 6 ,1 1 6
2 39 ,200
8 9 ,360

3,7 5 8 ,o38
187,600
8 5 ,685

$
546 ,7 0 5
51,600
3,675

2 77 ,879
21,303
8 1 ,546
51,709

2 35 ,992
2 0 ,133
7 5 ,375
* 39,864

4 1 ,887
1.170
6.171
11,845

7 56 ,5 1 7

613 ,954

142,563

59,272
123 ,300
9 18 ,1 5 5
134,551
11,894
178 ,356
175 ,022
2 74 ,216
10,549
9 67 ,1 0 3
2 5,7 2 2
23,033
80,409
1 04 ,237

14,192
13,046
135,520
13,137
636

T o t a l (40 r o a d s ) _______________
N e t in crea se ( 1 3 . 6 8 % ) . . . ______

8 ,8 8 9 ,4 4 9

7 ,8 1 9 ,5 7 0 1 ,1 1 1 ,2 2 9
1 ,0 6 9 ,8 7 9

25,927
8,990
285
57,880
9,1 9 3
3,472
12,632
10,703
4 1 ,3 5 0

Net Earnings Monthly to Latest Dates.— The table folowing shows the gross and net earnings of STEAM railroads
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of Dec. 22 1906. The
next will appear in the issue of Jan. 26 1907.

>
o
£

--------G ross E a rn 'g s-------- --------N et E a rn in g s-------C u rren t
P r e v io u s
C u rren t
P rev io u s
Y ear.
Y ear.
Y ear.
Y ea r.
R oads.
S
$
S
$
B a ltim o re & O h i o . b . _ . D e c 6 ,7 2 0 ,0 0 1
6 ,4 5 0 ,5 2 0 2 ,3 2 2 ,9 1 1
2 ,3 9 3 ,1 2 2
J u ly 1 t o D e c 3 1 _______ 4 1 ,7 7 1 ,1 9 7 3 8 ,6 1 0 ,4 0 8 1 4 ,9 4 3 ,0 9 2 14,1 8 7 ,7 3 9
B elle fo n te C e n tr a l. b . _ - D e c
5 ,1 9 7
5,0 8 6
1,637
1,594
J a n 1 t o D e c 31
5 7 ,0 6 8
60,633
12,482
18,178
C um b Tel & Tel C o .b . .D e c
4 91 ,363
4 3 3 ,6 5 8
172,500
1 9 7 ,8 3 0
J a n 1 t o D e c 3 1 . . ____ 5 ,3 8 4 ,8 4 4
4 ,6 5 6 ,4 2 2
1 ,9 3 7 ,4 3 7
1 ,6 7 9 ,4 5 0
G ra n d T r u n k o f C a n adaG ra n d T r u n k R y . ___ N o v 2,9 1 9 ,9 0 0
2 ,6 4 3 ,4 8 2
8 2 3 ,4 1 2
7 7 0 ,3 6 7
J u ly 1 t o N o v 3 0 . . ____ 1 4,600,472 1 3 ,3 4 1 ,9 9 3
4 ,4 3 0 ,4 6 1
4 ,1 4 5 ,7 7 0
G ra n d T r u n k W e s t . . N o v
510 ,982
108,523
473 ,997
1 0 6 ,0 9 0
J u ly 1 t o N o v 3 0 . . ____ 2 ,6 1 6 ,7 1 7
2 ,3 9 8 ,6 9 6
4 3 6 ,0 3 9
4 0 0 ,5 1 3
D e t Gr H a v & M ilw -. N o v
137 ,235
137 ,235
3 1 ,1 4 5
3 0,6 5 9
J u ly 1 t o N o v 30
779 ,125
671 ,576
229 ,6 9 7
1 9 6 ,6 0 6
C anada A tla n tic . . .
191 ,740
190 ,767
13,140
31,146
959 ,186
J u ly 1 t o N o v 3 0 . . ____
9 29 ,501
145 ,021
2 6 1 ,8 1 8
M o K a n s & T e x a s .a ___ N o v 2 ,4 6 7 ,0 8 4
1 ,0 4 0 ,1 9 2
2 ,0 9 9 ,9 4 8
744,909
J u ly 1 t o N o v 30
9,4 6 0 ,7 2 6
4 ,1 8 7 ,9 4 2
11,017,581
2 ,9 1 1 ,4 3 2
N evTC al & O r e g o n .a ___ N o v
2 6 ,195
1 9 ,155
17,102
10,292
J u ly 1 t o N o v 30
136 ,117
116 ,510
8 7 ,3 2 8
5 7 ,7 4 5
N e v a d a C e n tr a l, b . ______ N o v
841
4,201
4 ,3 8 7
2,6 3 3
J u ly 1 t o N o v 30
21,5 5 6
32,213
8,827
11,931
P h ila & E r i e . b _________ N o v
239 ,000
8 18 ,908
843 ,4 3 9
2 8 7 ,8 7 9
J an 1 t o N o v 30 . . ____ 7 ,7 0 3 ,4 0 7
2 ,1 0 2 ,0 2 9
7 ,5 8 4 ,3 8 4
2 ,2 6 1 ,5 7 2
S t J o se p h & Gr I s la n d - b N o v
126,275
45,3 3 2
123,981
4 0 ,6 0 2
J u ly 1 t o N o v 30
721 ,575
665 ,932
289 ,0 2 5
2 3 6 ,4 5 5
S e a b o a r d A ir L i n e . a ___
1 ,3 8 8 ,0 9 3
1,2 8 2 ,5 5 9
31 1 ,0 7 9
3 9 7 ,6 4 0
5,998.,086
1,014,361
J u ly 1 t o N o v 30
6 ,3 2 1 ,6 1 5
1 ,7 7 4 ,0 9 6
T o l P eoria & W e s t ’a . b . D e c
116,947
26,212
1 08 ,437
24,540
J u ly 1 t o D e c 31
1 50 ,043
689,281
647,968
1 63 ,213
W e s te rn M a r y l a n d .a . . N o v
t/125,407
437,651
347 ,848
V 9 5.0 27
J u ly 1 t o N o v 3 0 - - ------- 2 ,2 9 4 ,6 8 0
1 ,9 4 9 ,9 3 6
2/749,329
J/588,188
a N et earn in gs here g iv e n are a fte r d e d u c t in g ta x e s ,
b N et earn in gs here g iv e n are b e fo r e d e d u c tin g t a x e s .
V F o r N o v e m b e r a d d itio n a l In com e a n d n e t p ro fits fr o m c o a l , & c ., w ere
$ 5 9 ,8 2 0 th is y e a r , a ga in st $ 77 ,220 last y e a r , a n d fro m J u ly 1 t o N o v e m b e r
30 w ere $ 2 2 4,58 7 this y e a r , a gain st $ 2 9 2,66 8 last y e a r .

Interest Charges and Surplus.— The following roads, in
addition to their gross and net earnings given in the fore­
going, also report charges for interest, &c., with the surplus
above or deficit below these charges:
—I n t ., R en ta ls, & c .—
— B a l. o f N et E ’n g s .—
C u rrent
C u rren t
P rev io u s
P revio u s
Y ea r.
Y ea r.
Y ea r.
Y ea r.
R oad s.
$
$
$
$
B e lle fo n te C en tral
300
1,337
. D ec
330
1,264
J a n 1 t o D e c 31
3,6 0 0
8,8 8 2
3,960
14,218
C um b Tel & T el C o .. ..D e c
3 4 ,4 8 3
158 ,526
39,3 0 4
138 ,017
J a n 1 t o D e c 3 1 . ______
1 ,5 3 2 ,4 3 6
405 ,0 0 1
3 2 0 ,1 6 6
1 ,3 5 9 ,2 8 4
M o K a n sa s & T e x _____ N o v
6 2 4 ,6 3 3
4 15 ,559
364 ,144
3 8 0 ,7 6 5
(l^ - J u ly 1 t o N o v 3 0 . ______ 2 ,0 5 6 ,8 1 4
1 ,8 2 2 ,4 4 4
2 ,1 3 1 ,1 2 8
1 ,0 8 8 ,9 8 8
N e v Cal & O r e g o n N ov
# 1 5 ,0 2 5
3,302
2,7 2 6
* 7 ,6 9 2
J u ly 1 t o N o v 3 0 . ___ \_ 15,967
£ 7 7 ,4 8 3
12,270
* 4 6 ,7 1 8
S t J os ep h & Gr Islands . . N o v
18,429
2 1 ,0 9 4
2 6 ,903
19,508
J u ly 1 t o N o v 3 0 - ______
103 ,579
185 ,446
1 0 6 ,5 1 2
129,943
S e a b o a r d A ir L in e .
N ov
283 ,973
2 57 ,903
* 2 7 ,3 2 7
* 1 4 0 ,5 1 7
J u ly 1 t o N o v 3 0 - ______ 1,3 9 3 ,6 7 2
1 ,2 8 1 ,6 0 3 * d e f3 7 1 ,906
* 5 0 0 ,4 7 6
T o l P e o r ia & W e s t
24,220
. D ec
22,985
1,992
1,555
J u ly 1 t o D e c 31
144,986
137 ,0 7 8
5,0 5 7
26,135
* A ft e r
a llow in g
fo r
oth er
In co m e
r e c e iv e d .

STREET R A ILW A YS AND TRACTION COMPANIES.
Latest G ross E a rn in g s.
N a m e of
R oad.

A lb a n y & H u d s o n ___
a A m e rica n R y s C o ___
c A u r E lgin & C h ic R y
B l n g h a m t o n R y _____
B lrm R y L t & P ow er
B r o c k t o n & P ly S t R y
B u rlin g to n (V t) T ra c
C a m d en & T ren ton R y
C a p e B reton E le c C o .

W eek or
M o n th .

C u rrent
Y ea r.

$
O cto b e r
2 7 ,7 6 ?
D e c e m b e r . 234 ,983
N ovem ber.
96,721
21,634
N ovem ber.
N o v e m b e r . 169,383
O c to b e r . .
8,708
D e ce m b e r
. 6,882
S e p te m b e r
21,564
O c to b e r . .
2 4 .7 5 3




Previous
Y ea r.
$
24,830
215 ,3 0 8
89,415
20,488
144 ,906
7,995
6,479
14,128
21 .555

J an .

1 to latest date.

C u rren t
Y ea r.

2,7 3 9 ,7 8 7
276 ,883
1 ,742,625

[Y ol.
La test G ross E a rn in g s.

N am e of
R oad.

W eek or
M o n th .

C u rrent
Y ea r.

S
I
53,913|
C en t P e n n T r a c t io n . . j N o v e m b e r .
56,774!
C hari C on R y G as& E l j N o v e m b e r 39,6631
C h a tta n o o g a R y s C o . [O c t o b e r ___
80,615]
C h ic a g o & M ilw E le c . ID e ce m b e r
78,439
d C h ica g o & O ak P a rk j D e ce m b e r .
20,155j
C le v e P a in e sv ille & EI D e ce m b e r
52,4 3 0
C le v e la n d & S o u t h w .[D e c e m b e r
17,792]
C o lu m b u s R R C o ___ . S e p te m b e r
118,324
D allas E le c tr ic C o r p .'O c t o b e r . .
5,574
D e tr o it M o n & T o le d o ] 1st w k Jan
99,696
D e tr o it U n ite d R y ___ i 1st w k Jan
13,554
D u lu th S tre e t R y ___ ; 1st w k Jan
E L iv e r p o o l T r & L tC o .Septem ber
3 1 ,2 2 0
E a st St L o u is & S u b . ]N o v e m b e r . 180,163|
El P a so E le c t r ic ______'O c t o b e r
3 4 ,6 3 0
F t W a y n e & W abash
V a lle y T r a c t io n ___N o v e m b e r .
93,142
G a lv e s to n E le c tr ic Co O c to b e r . .
24.761
H a r tf & Spring St R y D e ce m b e r .
11,637
H a v a n a E le c tr ic R y . W k J a n 13
33,019
H o n o lu lu R a p id T r &
L a n d C o ___________ N o v e m b e r .
29,206
H o u g h to n C o St R y . . O c to b e r . .
19,352
H o u s to n E le c tr ic C o O c t o b e r . .
51,251
Illin ois T r a c t io n C o _ . N o v e m b e r . 2 6 7 ,2 9 6
In d ia n a p C ol & S o u th N o v e m b e r .
20,215!
J a c k s o n C on sol T r a c . N o v e m b e r .
10,409
26,8441
J a c k s o n v ille E le c C o . O c to b e r . .
K a n C ity R y & L ig h t N o v e m b e r . | 466,220]
L a k e S h ore E le c R y . D e ce m b e r
70,845!
L e x & In te ru r R y s C o N o v e m b e r , j 40,148
13,191
L orain S tre e t R y ____ S e p te m b e r j
11,021]
M ad ison & I n t T r a c . . N o v e m b e r .
M an ila E le c R y & L tg
C o r p o r a t i o n _______D e c e m b e r , j 7385,300
M et W e st S ide E l e v . . D e ce m b e r . 241 ,474
M ilw E le c R y & L t C o N o v e m b e r .i 302 ,895
54,262
M ilw L t H t & T r C o . . N o v e m b e r .
6 0.903
M on trea l S treet R y . . W k D e c 22]
N a sh v ille R y & L ig h t N o v e m b e r . ] 120,785
33,501
N J & H R R y & F y Co N ov em b er.
N O R y & L ig h t C o . N o v e m b e r .] 506 ,5 3 4
22,058
N iag ara St C & T o r . . O cto b e r
141.709
N o r O h io T r a c & L t.Z D e ce m b e r
127,256
N o r f & P o r ts m T r C o ' N o v e m b e r
93.458
N o rth e rn T e x a s T r C o iO c to b e r __
N o rth w e ste rn E l e v . _ , D e ce m b e r . 147.101
O k la h o m a C ity R y . . ! N o v e m b e r .
14,507
P eek sk lll L ig h t & R R N o v e m b e r .
12,236
P itts M ’ K & G r e e n .. N o v e m b e r .
12,564
P o r tla n d R y s C o ____ N o v e m b e r .
144,322
P u g e t S o u n d E le c R y S e p te m b e r
78,240
St J o s e p h (M o) R y L t
H e a t & P o w e r C o . . D e ce m b e r
7 5 ,147
S a v a n n a h E le c tr ic C o O cto b e r . .
43,835
S c h u y lk ill R y C o ____ N o v e m b e r .
14,976
S e a ttle Iile ctric C o ___A u g u s t ____
269 ,853
S o u th Side E le v a t e d - D e ce m b e r _ 147 ,578
S y ra cu se R a p T r R y . N o v e m b e r .
9 3 ,247
T a c o m a R y & P C o . . S e p te m b e r
72,727
T a m p a E le c tr ic C o . . O c t o b e r _ .
39,385
T e rre H a u te T & L C o O cto b e r . .
7 5.9 6 7
T o le d o R y s & L ig h t . D e ce m b e r
186 ,848
T o l U rb & Inter R y ._ ] O c t o b e r . .
28.792
T o le d o & W e s te rn ___ S e p te m b e r
21,654
T o r o n t o R a ilw a y ____ |W k D e c 22
64,180
T r i-C ity R v & L t C o . O c t o b e r . .
143,434
T w in C ity R a p id T ra n 4th w k D e c 159,371
U n ite d R R o f S F ___j O cto b e r • 654 1,00 8
U n ite d R y s o f B a l t . . D e ce m b e r
U n ite d R y s o f St L __ N o v e m b e r . 755",549
W a s h A le x & M t V e r . [D e ce m b e r
18.459
W e ste rn O h io R y C o . O c t o b e r . .
35,040
W h a t c o m C o R y & L ti O c t o b e r . .
26,465

l x x x iy

.

J a n . 1 to latest date.

P revio u s
Y ea r.

P r e v io u s
Y ea r.

C u rren t
Y ea r

$
46,556]
53,549j
66,584
77,704:
19,841
47,540
15,321
88,601

$
621 ,830
593 ,2 4 0
410 ,023
884 ,206
844 ,222
271 ,1 0 0
645,849

$
5 3 7 ,1 4 0
5 4 7 ,2 3 2
594",874
8 2 4 ,6 6 4
2 4 5 ,0 8 8
5 4 3 ,2 2 6

88",327
12,223
_______
152,668
29,765

5,574
99,6 9 6
13,554

88,3 2 7
12,223

1 ,7 0 4 ,5 0 5
314 ,407

1.457" 881
238 357

80,474
23,927
10,806
2 9,754

1,0 0 7 ,8 1 3
262 ,075
173,896
67,230

862 ,171
2 2 3 .1 9 4
139 ,582
5 9 ,7 3 6
2 9 3 ,7 0 6 134,997
4 1 8 ,6 6 4
2 ,1 9 4 ,9 4 0
191 ,124
114,080
2 5 9 ,5 9 5
4 ,4 3 2 ,5 3 1
7 8 8 ,2 6 8

318 ,322
26,588!
190,724
16,539
480 ,1 2 5
4 6,324
218 ,258 2,7 1 0 ,9 4 3
218 ,947
17,776
134,434
9,231
261 ,116
2 5,797
4 31 ,485 4,9 8 5 ,3 6 4
66,560
866 ,970
4 83 ,699
11,512
108,209
7,563
117,995

" 9 3 ,3 8 1
1 01,422

« 9 0 9 ,080
210,488 2,4 9 3 ,0 8 9
275,409 3,197,374
45,962
645 ,843
53,936] 3,1 0 1 ,2 1 6
106,765 1 ,258,858
30,689
4 00 ,393
444,271] 5,22 0 ,6 8 5 ]
! 1,571
225,447!
1 2 9 ,8 0 6 !p l ,703,3401
115,493: 1,356,348]
_______ |
57,797
1 35,158 1 ,515,361
1 61,080
10,110]
133,199[
10,125
198,131
13,440
1 23 ,472 fcl ,538,S28
55,1 4 3

2 ,2 6 7 ,9 3 8
2 ,9 2 9 ,0 7 0
5 60 ,6 6 4
2 ,7 1 0 ,3 9 3
1 ,0 5 4 ,6 2 3
3 32 ,600
210 ,4 8 4
1 ,5 5 2 ,9 7 0
1,2 3 6 ,6 4 4
1 ,411,927
1 13,133
168,751
1 ,6 9 2 ,7 6 4
7 5 4 ,9 5 4
4 8 1 ,6 6 6

8 34 ,438
5 17 ,509

73,025
49,907

224 ,936
151 ,117 1 ,7 2 1 ,2 0 7
994 ,9 4 6
82,895
60,555
379 ,267
34,586
664 .452
57,336
175,745 2 ,0 4 7 ,6 1 0
289 ,232
2 6 ,7 6 6 '
177 ,648
25,108]
60,709!
_______ I
1 20 ,179
_______I
143,762 5 ,6 3 4 ,1 8 5 ;
638 ,319
_______ I
| 6 ,5 7 9 ,8 2 1
7 1 4 ,7 7 i 8 ,3 6 3 .8 3 4 !
20,52S|
273,2661

1 ,6 4 5 ,6 5 3
8 73 ,280
3 2 9 ,3 0 0
5 1 3 .2 3 5
1 ,9 1 3 ,4 5 6
2 52 ,0 0 4
1 80 .2 3 6
-----------............ 4 ,7 5 6 ,3 0 1
......
6 ,0 2 3 ,6 9 8
7 .7 2 9 .5 5 4
251 ,641

15,0241

a F igu res fo r th e m o n t h in b o t h ye a rs in c lu d e o p e r a tio n s o f t h e S c r a n to n
R y . , a c q u ir e d Ja n . 1 1906.
c T h e se figu res are fo r c o n s o lid a te d c o m p a n y .
d T h e se are results fo r m a in lin e , h T h e se a re e a r ly p r e lim in a r y retu rn s:
de cre a se d u e t o e a r th q u a k e , Are a n d s tr ik e a m o n g e m p lo y e e s , A u g . 26 t o
S e p t. 5 1906. k D ecrease d u e t o L ew is & C lark E x n o -lt lo n last y e a r .
I B e g in n in g O ct. 1 190 6, in clu d e s e a rn in gs o f C a n to n -A k r o n R y . In b o t h
y e a rs, n F ig u res are fo r all d e p a rtm e n ts .
P In c lu d e s e arn in gs fo r D e c . 31
1906.

Street Railway Net Earnings.— The following table gives
the returns of STREET railway gross and net earnings
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of Dec. 29 1906. The
next will appear in the issue of Feb. 2 1907.
-------G ross E a r n ’ gs------- --------N et E a rn in n s-------C u rren t
P rev io u s
C u rren t
P rev io u s
Y ear
Y ea r.
Y ea r
Y ea r.
R oad s.
$
$
$
5
80,615
4 2 ,3 8 5
6 6 ,5 8 4
C h ic & M ilw au k ee E l e c . .D e c
47,5 0 3
88 4 ,2 0 6
3
5
0 ,3 2 3
J an 1 t o D e c 3 1 - . ____
5 94 ,874
5 1 7 ,810
2 0 ,155
9 ,6 9 8
C le v P a in e s v & E ast . a . - D e c
19,841
10,206
103 ,8 2 0
27 1 .1 0 0
J a n 1 t o D e c 31
245 ,089
127 .107
20 ,992
52,430
C lev & S o u th w e s te r n , b - D e c
47 ,540
2 3 ,5 3 6
645,849
228 ,9 7 2
J a n 1 t o D e c 3 1 . . ____
543 ,226
2 81 ,993
31,8 0 0
7 0 ,8 4 5
L a k e S h ore E le c R y . a . - D e c
3 1 ,3 9 0
66,560
3 5 9 ,6 8 0
8 66 ,9 7 0
J a n 1 t o D e c 31
3 9 0 ,7 1 2
7 8 8 ,2 6 8
4 8 ,1 8 4
1 41 ,709
d N o r O h io T r & L t .a _ - D e c
5 9 ,432
1 29 ,806
6 54 ,1 4 0
J an 1 t o D e c 3 1 . . ____ 1,7 0 3 ,3 4 0
6 9 6 ,4 9 8
1 ,5 5 2 ,9 7 0
9 1,0 4 7
T o le d o R y s & L i g h t - a . - D e c
1 86 ,848
9
2
.2
7
5
175 ,745
94 0 ,4 6 2
Jan 1 t o D e c 3 1 .
2 ,0 4 7 ,6 1 0
97 5 ,8 3 7
1 ,9 1 3 ,4 5 6
8,649
W a s h A le x & M t V . a . - D e c
7,2 6 2
18,459
2 0,5 2 8
112 ,165
J an 1 t o D e c 3 1 .
2 7 3 ,2 6 6
12 5 ,4 1 8
251,641
a N et e arn in g s here g iv e n are a fte r d e d u ctin g ta x e s .
b N et earn in gs here g iv e n are b e fo r e d e d u ctin g ta x e s .
d B e g in n in g O c t . 1 1906 in clu d e s earn in gs o f C a n to n -A k r o n R y .

Interest Charges and Surplus.
— I n t., R en tals, & c .—
C u rrent
P r e v io u s
Y ea r.
Y ea r.
$
$

— B a l. o f N et E ’ n gs.—
C u rren t
P rev io u s
Y ear.
Y ea r.
$
$

R oads.
C h ic & M ilw a u k e e E le c —
* 5 3 1 ,6 0 5
_______
Jan 1 t o D e c 3 1 ----------17,996
3 ,0 1 5
6,799
C lev P a in e s v & E a s te r n . D e c
7,191
43,1 6 9
8 0 ,8 3 0
Jan 1 t o D e c 3 1 _______
83,938
6,620
13,955
C le v & S o u th w e s te r n -------D e c
16,916
1 02 ,742
152 ,692
J a n 1 t o D e c 3 1 _______
179,251
2 0 ,4 0 6
1,844
L a k e S h o re E le c R y -------D e c
2 9 ,5 4 6
244 ,8 5 0
136 ,514
J an 1 t o D e c 3 1 _______
2 5 4 ,1 9 8
39,641
18,420
41,0 1 2
d N o rth e r n O h io T r & L t D e c
4 7 1 ,5 0 3
2 1 3 ,3 2 4
4 8 3 ,1 7 4
Jan 1 t o D e c 3 1 _______
42,461
4 9 ,4 7 5
4 2 ,8 0 0
T o le d o R y s & L ig h t -------D e c
5 10 .307
5 0 9 ,6 0 7
4 6 6 ,2 3 0
J an 1 t o D e c 3 1 _______
d B e g in n in g O ct. 1 1906 in clu d e s earn in gs o f C a n to n -A k r o n R y .
x A ft e r a llo w in g fo r o th e r In c o m e .

_______
2 ,8 9 9
2 2 ,9 9 0
7,0 3 7
7 6 ,2 8 0
11,394
114 ,830
8 ,5 4 3
18 2 ,6 3 7
*48,586
4 3 0 ,1 5 5

THE CHRONICLE.

J a n . 19 1907.]

155

R E S U L T S F O R Y E A R S E N D I N G S E P T . 30 1906.

A N N U A L R EPO R TS.
Annual Reports.— The following is an index to all annual
reports of steam railroads, street railways and miscellaneous
companies which have been published since Jan. 1. Re­
ports published during the last half of 1906 may be found by
reference to the general index of the “ Chronicle,” pages vii.
to x i., the annual reports being indicated by heavy-faced
type.
T his index does not include reports in to-day’s “ Chronicle.”
R ailroad s, & c. (C o n cl. ) —
P a g e.
R a ilroa d s, A c . —
P a ge.
C ity o f C h ic. B rew . & M a ltin g -----105 R a ilw a y Steel Sprin gs (o fficia l
s ta te m e n t)_______________________100
Clallln (H . B . ) , & C o. (h a lf-y r .) --1 0 5
H a rrison B ros. & C o --------------------- 105 T o n o p a b & G o ld fie ld _____________ 99
W h ite P ass & Y u k o n _____________ 100
M ob ile J a c k so n & K a n . C it y ---------99
Street R a ilw a y s—
P a ge.
N o rth e r n S e c u r itie s ----------------------- 103
S w ift & C o ...............................................100 B o s to n E le v a t e d ___________________101
B o s to n & W o r c e s te r E le c . C o -------101

New York Chicago & St. Louis RR.
(Preliminary Statement for Fiscal Year ending Dec. 31 1906.)
The results for the calendar year 1906 (partly estimated)
were:
190 6.
1905.
G ross e a r n i n g s .- .......................................
$ 9 ,9 0 2 ,2 0 8
$ 9 ,1 0 8 ,7 3 0
O p era tin g e x p e n s e s - . - ..............................\ 7 ,5 8 0 ,6 1 9 /
6 ,4 8 3 ,0 0 9
A d d itio n s b e tte rm e n ts & re n e w a ls ___ j
\
537,341

1904.
$ 8 ,0 4 5 ,3 7 4
$ 6 ,1 6 3 ,6 7 9
674 ,467

N et earnings . . . ..................................... $ 2 ,3 2 1 ,5 8 9
$ 2 ,0 8 8 ,3 8 0
$ 1 ,8 0 7 ,2 2 8
O th er in c o m e ...............................................
4 7 ,8 0 7
30,7 1 6
35,156
T o t a l i n c o m e ............................................. $ 2 ,3 6 9 ,3 9 6
In teres t o n b o n d s , & c _________________
835 ,872
E q u ip m e n t tru st c h a r g e s ______________
166 ,105
T a x e s ___________________________________
2 80 ,773
250 ,0 0 0
■D ividends o n 1st preferre d ( 5 % ) ______
D iv id e n d s o n 2 d p r e fe rr e d ___________
(4 )4 4 0 ,0 0 0
B a la n ce , s u r p lu s ____________________
— V . 8 4 , p . 52.

$ 3 9 6,64 6

$ 2 ,1 1 9 ,0 9 6
808 ,0 7 9
170 ,056
270 ,5 9 7
250 ,0 0 0
(3 )3 3 0 ,0 0 0

$ 1 ,8 4 2 ,3 8 4
792 ,544
172,460
258 ,463
250,000
(3 )3 3 0 ,0 0 0

$ 2 9 0,36 3

$3S,917

Cleveland Cincinnati Chicago & St. Louis Ry.
(Preliminary Statement for Fiscal Year ending Dec. 31 1906.)
The approximate statement for the year (partly estimated
in 1906) is as follows:
1906.
1 90 5.
1904.
G ross e a r n in g s ...............................................$ 2 4 ,5 9 4 ,9 0 0 $ 2 2 ,5 1 7 ,7 6 3 $22 ,1 4 1 ,1 1 0
1 6 ,8 7 9 ,3 4 5
1 6 ,1 3 1 ,1 1 3
O p e ra tin g e x p e n s e s ____________________ 1 8 ,4 0 6 ,1 0 0
N et e a r n i n g s ...........- ..................... ......... $ 6 ,1 8 8 ,8 0 0
$ 5 ,6 3 8 ,4 1 8
$ 6 ,0 0 9 ,9 9 7
O th er in c o m e ____ ______ _______________
2 0 8 ,5 0 0
241 ,4 7 7
284 ,217
G ross in c o m e ....................................... . - $ 6 , 3 9 7 , 3 0 0
$ 5 ,8 7 9 ,8 9 5
F irst ch arges a n d t a x e s ________________
4 ,3 0 5 ,8 0 0 ' 4 ,0 0 9 ,4 6 9

190 5 -0 6 .
190 4-0 5.
190 3-0 4.
1 90 2-0 3.
R e v e n u e m iles r u n ______ 5 0 ,2 8 0 ,7 8 6
4 8 ,2 7 3 ,6 2 2
4 8 ,5 2 0 ,4 5 2
4 7 ,6 8 8 ,4 8 7
R e v . passengers c a r r ie d .2 6 2 ,2 6 7 ,2 4 0 2 4 6 ,9 4 1 ,7 7 6 2 4 1 ,6 8 1 ,9 4 5 2 3 3 ,5 6 3 ,5 7 8
G ross e a r n in g s ___________ 1 3 ,5 2 7 ,1 8 6
O perating e x p en ses —
982 ,729
G e n e r a l __________________
M a in te n a n c e —
R o a d a n d b u ild in g s . 1,2 1 1 ,2 3 5
1 ,2 1 9 ,4 2 6
E q u ip m e n t
T r a n s p o r t a t io n _________
5,8 9 3 ,5 6 1

12 ,6 8 9 ,6 7 6

1 2 ,3 9 1 ,3 5 3

1 1 ,9 5 9 ,5 1 5

1 ,0 2 9 ,5 6 8
853,261
5 ,7 2 7 ,1 6 6

8 87 ,857 ... ii 730 ,0 5 8
’•M
829,491
7 9 1 .1 9 0
8 46 ,542
822 .190
6,0 6 7 ,6 6 3
5 ,9 1 6 ,4 2 2

9 ,3 0 6 ,9 5 1
4 ,2 2 0 ,2 3 5
107,427

8 ,6 1 7 ,6 5 3
4 ,0 7 2 ,0 2 3
51,893

8 ,6 3 1 ,5 5 3
3 ,7 5 9 ,8 0 0
45,241

8 ,2 5 9 ,8 6 0
3 ,6 9 9 ,6 5 4
5 9 ,857

T o t a l i n c o m e . ___
4 ,3 2 7 ,6 6 2
D ed u ction s—
In te re st o n W e st e n d d e b t
653 ,680
573 ,204
T a x e s , W e s t E n d ----------T a x e s , B o s to n E le v a te d
3 44 ,823
1 15 ,987
C o m p e n s a tio n t a x ------£ 2 0 1 ,2 6 9
R e n ta l o f s u b w a y ----------1 ,1 9 0 ,2 4 8
D lv s . o n W est E n d s t o c k
D iv s . o n S o m e rv ille
9,1 8 0
H o rs e R y _____________
37,783
R e n t, t o O ld C ol. S t. R y .
300 ,000
I n t. on B o s. E l. fu n d , d e b t
49,709
E a st B o s to n tu n n e l re n t

4 ,1 2 3 ,9 1 6

3,8 0 5 ,0 4 1

3 ,7 5 9 ,5 1 1

654 ,758
579 ,226
358,905
109,202
193,142
1 ,1 9 0 ,2 4 8

629 ,600
517 ,209
3 01 ,322
106,887
107 ,206
1 ,1 8 0 ,7 5 2

644 ,616
501 ,762
3 12 ,043
103 ,214
197 ,892
1,1 6 3 ,8 4 9

9,180
33,772
125 ,000
35,398

9,180
33,111

9,1 8 0

•' T o t a l d e d u c t io n s - . .
B a la n ce - - _____________
D iv id e n d ( 6 % )
_______

3,4 7 5 ,8 8 3
851,779
798 ,0 0 0

3,2 8 8 ,8 3 1
835 ,0 8 5
798 ,000

2 ,9 7 5 ,2 6 7
829 ,774
79 8 ,0 0 0

2 ,9 3 2 ,5 5 6
8 2 6 ,9 5 5
7 9 8 ,0 0 0

Surplus fo r y e a r ______

53,7 7 9

37,0 8 5

3 1 ,7 7 4

28 955

T o t a l o p e r a te d e x p e n .
N e t e a r n in g s ___________
In te re st o n d e p o s it s ____

1 ,0 0 7 ,6 5 8

...j..

x A fte r d e d u ctin g $16 ,153 c o lle c te d fro m th e B o s to n & N o rth e rn R y .
B A L A N C E SH EE T BOSTON E L E V A T E D R Y . SE PT . 30.
1906.
1905.
Assets.
S
Liabilities—
Construct’ n .’ equip­
Com m on stock ___13
ment, & c______ 18 795,586 16,852,183 Funded d e b t_____ 7
C ash_____________ 4 .759.08S 7,733,580 Vouchers & a cc’ ts.
Bills and accounts
Salaries & w a g e s ..
725,885 D iv. and coupons.
re c e iv a b le _____ 1,351.910
Rentals unpaid___
Bonds deposited
with State_____
500,000
500,000
do not due____
Materials and sup­
Int.& taxes not due
plies ___________
913,146
846,119 Tickets, checks,&c
Insur. investm’ ts481,566
481.566 W est E . lease acc’ t
760,782 Damage fund_____
W est End op. aco’ ts 786,152
Prop’ ty acc’ t s . . 1 ,079,066
386.579 Insurance fu n d ._ .
Stock & bonds____
208,011
208,011 D epreciation fu n d.
Somerville horse
Prem ’ m from sale
ra ilro a d _______
102,851
102,851
of stock & bonds
Old Colony St. R y .
109,841
109,678 Surplus....... .............
Total ..................29,087.223 28,713,2331
-V . 84. p. 101.

1906.1
11905.
$
SST* $
,300,000 13 ,300,000
,500,000
,500,000
438,805
353,144
160,917
140,794
64,047
43,968
339,124
339,124
148,510
146,895
260,456
,273,243
32,507
26,618
207,202
.207,202
752,400
628,801
556,031
480.000
600,000
600.000
C£K
,091,900 2 ,091.000
635,324
581,545

T o t a l .................. 29,087,223128,713,233

$ 6 ,2 9 4 ,2 1 4
3,9 1 5 ,3 7 8

Monongahela River Consolidated Coal & Coke Co.

B a la n ce fo r d iv i d e n d s ..........................$ 2 ,0 9 1 ,5 0 0
$ 1 ,8 7 0 ,4 2 6
$ 2 ,3 7 8 ,8 3 6
D iv id e n d s o il p referred ( 5 % ) _________
499 ,925
4 9 9 ,9 2 5
499 ,9 2 5
D iv id e n d s oil c o m m o n ( 4 % ) __________
1 ,5 1 1 ,7 7 5
1 ,3 2 8 ,9 5 0
1,1 1 9 ,6 1 2

President Francis L. Robbins, Jan. 14 1907, writes:

B a la n ce s u rp lu s _____________________
— V . 8 3 , p . 129 0, 1228.

\

$79 ,8 0 0

$ 41 ,550

$75 9,29 9

Boston Elevated Railway.
(Report for Fiscal Year ending Sept. 30 1906.)
President Bancroft, Dec. 31, writes in substance:

T a x es .— B esides Its o r d in a r y t a x e s , th e c o m p a n y ’s c o n t r ib u tio n t o th e
p u b lic d u rin g th e last llscal y e a r a m o u n te d t o a t least S 5 0 0 .4 6 2 , m a d e up
as fo llo w s : C om p e n s a tio n t a x fo r th e use o f s tre e ts, $ 1 1 5 ,9 8 7 ; in terest a t 4 %
o n $ 4 ,1 5 4 ,9 7 4 , cost o f p a v in g laid b y c o m p a n y , $16 6 ,1 9 9 ; c o s t o f m a in ta in ­
in g street p a v in g , $ 15 0,65 9; s u b w a y re n ta l d e v o t e d t o sin k in g fu n d , $ 5 7 ,6 1 7 ;
r e m o v a l o f sn ow fr o m sid ew alk s a n d r o o fs (e s tim a t e d ), $ 10 ,000 ; to t a l ta x e s
assessed o n real estate a n d ca p ita l s t o c k , $ 1 ,4 1 8 ,4 8 9 .
B a lan ce o f th e s u b ­
w a y ren ta l, $ 1 4 3 ,6 5 1 , a n d ren tal o f E a st B o s to n tu n n e l, $ 4 9 ,7 0 9 .
G ra n d
t o t a l, w h ic h Is n e a r ly 1 2 % o f th e gross re ve n u e fo r th e y e a r , $ 1 ,6 1 1 ,8 4 9 .
S to ck .— N ea rly 8 5 % o f th e s to c k Is h e ld In M assach u setts.
P o w e r .— T h e c o m p a n y has a rran ged t o in crea se Its p o w e r s u p p ly b y th e
c o n s t r u c tio n o f t w o gas e n g in e p la n ts , s u p p ly in g in th e ag g re g a te 1,675
k ilo w a tts , a n d b y th e In stallation o f a tu rb in e g e n e ra to r ra te d a t 2,000 k ilo ­
w a tts . T lie c o m p a n y has also pu rch a se d fro m th e E d is o n E le c tr ic Illu m i­
n a tin g C o. an d fro m o th e r sou rces a b o u t 3,6 0 0 k ilo w a tts , m a k in g a to t a l
o f u p w a rd o f 7,275 k ilo w a tts — an increase o f a b o u t 2 0 % .
C a rs .— F o r t y -fiv e " e a s y a c c e s s ” e le v a te d ca rs, m a k in g a lto g e th e r 219 , an d
150 “ ea sy a c c e s s ” se m i-c o n v e r tib le s u rfa ce cars se a tin g 52 p ersons e a ch ,
h a v e been b o u g h t, an d a co n s id e ra b le n u m b e r h a v e a lr e a d y b e e n d e liv e re d .
R en ew als.— U nusual a tte n tio n has been p aid t o th e care o f th e c o m p a n y ’s
s u r fa c e tr a c k s, $73 7,35 4 h a v in g been sp en t th e re o n in renew als an d re p a irs,
a n Increase o f $11 4,50 5 o v e r 1904-05 an d o f $ 2 8 3,68 4 o v e r 1903-04.
It is
b e lie v e d th a t th e tra ck s w e re n ev er b e fo r e In su ch e x c e lle n t c o n d itio n . T h e
a d d itio n s Inclu de a new lin e t o B e lm o n t C en tre, 9 .4 m iles.
W a g es . — T h e c o m p e n s a tio n fo r learners ($ 3 1 ,3 8 3 ), g u a ra n te e d m in im u m
w a g e fo r n ew or e x t r a m e n ($ 1 4 ,0 3 2 ), Increased c o m p e n s a tio n t o lo n g-se rv lc e m en ($ 6 4 ,3 0 5 ), pen sion s ($ 9 ,0 8 1 ). a n d “ s a tis fa c to r y s e r v ic e ” m o n e y
($ 5 2 ,5 9 0 ), a g g r e g a te d , u n d er th e p ro v isio n s a d o p te d three yea rs a g o , $171 ,391 . M or e o v e r , th e c o m p a n y , b eg in n in g w ith th e ca le n d a r y e a r 1907
w ill in crea se th e p a y o f its ca r s e rv ice m en a n d th o se c o n n e c t e d im m e d ia te ly
th e r e w ith , a m o u n tin g In n u m b e r t o n early 5 ,3 0 0 , th o s e in s e rv ice m o r e th a n
tw o years 10 cen ts a d a y an d th e oth ers 5 ce n ts a d a y , th e n ew o r e x tr a m en
bein g g u a ra n teed a m in im u m Increase o f 25 ce n ts a d a y .
E levated E x te n s io n s .— W o r k u p o n th e e x te n sio n o f th e e le v a te d s tru ctu re
t o F orest H ills has be e n p r o s e c u te d . T h e fo u n d a tio n piers h a ve been bu ilt
t o F orest H ills S qu are. T h e stru ctu re has be e n e r e c te d t o w ith in a b o u t
on e -h a lf m ile fro m Its term in u s.
N ew T u n n el.— M u ch progress has b e e n m a d e b y th e B o s to n T ra n sit C o m ­
m ission In con s tr u c tin g th e tu n n e l u n d e r W a s h in g to n S tre e t. It is e x p e c t e d
th a t this tu n n el w ill be in use in 1908.
v M od ifica tion o f C on tract.— B y C h a p ter 520 o f th e A c t s o f 190 6, a c c e p te d
b y th e b o a r d o f d ir e cto r s Jun e 29 1906, In e ffe c t a m o d ific a tio n o f o u r c o n ­
t r a c t w ith th e C o m m o n w e a lth o f M assachusetts In 189 7, th e c o m p a n y is
relea sed fro m its ob lig a tio n t o b u ild an e le v a te d r o a d In C a m b rid ge be tw e e n
t h e C a m b rid g e brid g e a n d B rattle S q u a re , a n d is re q u ire d in stea d t o b u ild a
s u b w a y In M ain S treet an d M assachusetts A v e n u e t o H a rv a rd a n d B rattle
sq u a res in C a m b rid g e , an d an e le v a te d ro a d fro m L e ch m e re S q u a re t o c o n ­
n e ct w ith its ele v a te d stru ctu re o n C a u sew ay S t. in B o s to n . T h e s u b w a y
s t o b e b u ilt w ith in fo u r years a fte r linal a p p ro v a l o f th e o rig in a l p la n , an d
th e e lev a ted w ith in 3 H yea rs fro m th e tim e th a t c o n s tr u c tio n is au th o riz e d
t o b e g in .
A t a n y tim e a fte r th e e x p ir a tio n o f 20 years fro m th e o p e n in g
fo r use o f th e M ain S treet s u b w a y , o r earlier b y a g re e m e n t, th e A c t a llow s
th e C ity o f C a m b rid ge t o pu rch ase th is s u b w a y , p a v in g c o s t an d Interest a t
7 % p er y ea r fro m th e tim e o f o p e n in g fo r u se, less d iv id e n d s . T h e A c t also
en a b les th e c o m p a n y t o b u ild , u n d er th e sa m e te r m s , co n d itio n s a n d p r o ­
v is io n s , s u b w a y s In R iv e r S t ., W e b s te r A v e . a n d C a m b rid ge S t. in C a m ­
b r id g e , b eg in n in g w ith in fo u r years a fte r th e o p e n in g fo r use o f th e M ain
S t. s u b w a y .
P r o v is io n is also m a d e fo r a c o n n e c t io n b y s u b w a y o r tunnel
t o b e b u ilt b y th e B o sto n T ra n sit C o m m is s io n , be tw e e n th e B o sto n en d o f
th e C a m b rid g e b r id g e an d eith er th e P a rk stre e t o r th e S c o lla y S qu are sta ­
tio n s o f th e B o s to n s u b w a y . T h is s u b w a y o r tu n n e l is t o b e leased t o th e
c o m p a n y a t an ann ual ren tal o f 4 7
A % fo r a te rm o f n o t less th a n 20 years.
T r a ffic .— T o ta l rev e n u e passengers carried fo r th e y e a r , 2 6 2 ,2 6 7 ,2 4 0 ,
In c r e a s e o v e r p rev iou s y e a r o f 1 5 ,3 2 5 ,4 0 4 , o r 6 . 2 % . ,
n




(.Report for the Fiscal Year ending Oct. 31 1907.)
F in a n c ia l.— T h e b a la n c e sh e e t sh o w s a m a r k e d im p ro v e m e n t o v e r th e
p r e ce d in g y e a r.
D e cre a se in first m o r tg a g e b o n d s , ce r tific a te s o f in d e b te d n e s s ,
c a r tru st n o te s a n d m o r tg a g e s ____________________________________
$ 3 5 1,29 7
D ecrea se in a c c o u n ts a n d bills p a y a b le _____________________________ i ,050 ,741
Less d e cre a se In q u ic k a sse ts ________________________________________

$ 1 ,4 0 2 ,0 3 8
4 5 0 ,0 0 7
------------------------

N et r e d u c tio n in In d e b te d n e ss____________________________________
$95 2,03 1
Con d ition o f P r o p e r ty .— T h e p h y sica l c o n d itio n o f o u r p ro p e rtie s , s te a m ­
b o a ts , b a rg es, co a l m in es a n d m in e im p ro v e m e n ts , m in e rs’ h ou ses, c o a l
h a rb o rs, co a l e le v a to rs a n d d e p o ts , & c., has b e e n w ell m a in ta in e d , a n d is
a t th is tim e b e tte r th a n a t a n y tim e sin ce th e org a n iz a tio n o f th e c o m p a n y
P ro d u ctio n .— O ur p r o d u c tio n o f c o a l fo r th e y e a r sh ow s an in crea se o f
1,5 7 8 ,6 7 4 to n s , eq u a l t o 31 % .
A large p r o p o r tio n o f th e In creased p r o d u c ­
t io n w as m a rk e te d th ro u g h o u r rail d e p a rtm e n t, n o tw ith s ta n d in g th e usual
a n d a p p a r e n tly in crea sin g sh o rta g e o f ra ilro a d ca rs.
O ur in d iv id u a l cars
w ere lo u n d v e r y se rv ice a b le , a n d p a rticu la rly so in s h ip p in g t o th e L a k e
tra a e .
E a rn in g s .— T h e gross ea rn in gs in crea sed 2 2 .3 1 % a n d th e n e t ea rn in gs
in crea sed 1 3 2 .7 3 % .
Sale o f C oron a , A l a ., P ro p erties.— A fte r a n e x p e rim e n t o f fo u r years It
w as fo u n d th a t th ese p ro p e rtie s , b ein g far d ista n t fro m P itts b u r g h , c o u ld
n o t b e as a d v a n ta g e o u s ly o p e ra te d in c o n n e c tio n w ith o u r P ittsb u rg h p r o p ­
erties as m ig h t b e d e sired , a n d y o u r d ire cto rs th e re fo re a v a ile d th em selv es
o f a n o p p o r t u n it y t o d isp ose o f th e s to c k o f th e C oron a C o m p a n y a t a n in ­
crea se o v e r its c o s t .
(See C o ro n a C oa l & Ir o n C o ., V . 72 n 11 9 0 - V 7R
p . 1277— E d .) .
’
E A R N I N G S , &.C., F O R

Y E A R S E N D I N G O C T . 31.

190 6.
C oal m ille d ( t o n s ) - - - .................... ............ 3 6 ,509,737
E a rn in g s
-------------------------------------------$ 2 ,2 8 6 ,3 3 6
L ess— M a in t.& r e p a irs on riv e r c r a f t .
$ 3 8 7,95 4
D e p r e cia tio n on riv e r c r a ft , & c ___
319 ,0 0 8
R o y a lt y o n c o a l m in e d ------------------£ 4 4 2 ,9 3 2
In te re s t o n b o n d s , & c .........................
612,961
T a x e s a c c r u e d ----------------------------------70,881
^ D iv id e n d o n p re fe rre d s t o c k .............
4 5 0 ,0 0 0

190 5.
4 ,9 6 2 ,7 5 0
$ 1 ,8 6 9 ,1 5 2
$ 3 7 7,40 8
3 1 8 ,1 4 7
3 3 4 ,6 5 4
6 4 4 ,4 6 6

1904
4 158 544
$ 1 ,7 2 7 ,7 6 7
$397 131
308*871
2 8 l ’ l7 4
5 8 5 ’ 825

194',000

154",655

T o t a l -------- ------------- ................ ................ $ 2 ,2 8 3 ,7 3 6
$ 1 ,8 6 8 ,6 7 5 _$1,7 2 7 ,0 0 1
N et b a la n c e fo r y e a r ..............................
$2,6 0 0
$476
$766
z $ 2 1 5 ,5 0 8 used fo r r e d e m p t io n o f b o n d s a n d $2 2 7 ,4 2 4 re -in v e s te d In
c o a l la n d s a n d o th e r p r o p e r ty .
V T h e d iv id e n d fo r 1906 ( 4 .5 0 % ) d e cla re d th is w e e k calls fo r $450 000
a ga in st 1 .9 4 % ($194,000) p a id th e p r e v io u s y e a r .
w
’
’
z T h e O h io V a lle y C oa l & M in in g C o. also m in e d 1 27 ,399 to n s .
B A L A N C E S H E E T O CT. 31.
1906.
$
47S.318

1905
1906.
1905
Assets—
S
I Liabilities—
$
S
Cash on hand, & c.
501, 7561 Preferred stock___10 ,
10,000,000
Cash on hand for
ICommon s t o c k ___20 ,
20 ,000,000
purch. o f p r o p ..
138,977
99 ,lS7|Bonds...................... 8 ,786,000 8.931.000
215,921
Cash in bd. sink.fd.
164 ,1071Bonds subsidiary
Bds. repurch. from
I com panies_____ .
888,720
34,140
reinvest, fu n d -.
------------- ICertificates o f InAccts. & bills r e c .. 2,185,852 1,743,8581 debtedness_____
.560,000 1.660.000
Stks.& bds.oth.cor.
503,058
497,6181Car trust notes___
374,000
418.000
Def.chgs.aKst.oper.
24,542
24,983! M ortgages_______
285,441
347,738
Coal on hand-------- 1,616,012 2,528,1051 Aects. <fe bills pay,232,931 2.283.671
82,923
Supplies on hand.
128,3361 D eprec’n reservc-.
,152.538
681,122
Lumber, &c..supp.
435,622
430,128) Undivided proflts. .062.686 1,610.086
245 577
E m pty coal boats.
281,8741 Undiv. profits div.
In vestm en ts......... 39,492,652 40,608,3801
paid Jan. 1906. .
194.000
T o t a l ________ .45,453,595 47,014,338
- V . 84, p. 106.

000,000
000,000

T o t a l .................. 45,453,595 47,014.338

THE CHRONICLE.

156

Lawyers Mortgage Co., New York.
{Report for Year ending Dec. 31 1906.)
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:
O P E R A T IO N S F O R C A L E N D A R Y E A R S .
1904.
1906.
1905.
$
$
$
G u a r. m tg e s . s o l d ______ 2 2 ,9 5 9 ,0 8 5
1 9 ,9 2 2 ,0 0 9 i 1 6 ,2 6 9 ,2 7 8
5 ,8 2 6 ,6 2 9
da
d o p a id o ff . .
9 ,3 8 1 ,7 1 6
7 ,1 5 5 ,6 2 5
do
d o o u t s t a n d ’g
D e c . 3 1 . 5 4 ,4 5 4 ,1 5 0 4 0 ,8 7 6 ,7 8 1
2 8 ,1 1 0 ,3 9 7
' •In com e fro m —
110,853
P rem iu m s t o c s jja r a a t le s
2 3 4 ,9 0 9
166 ,325
184,296
In te r e st a n r a o r f 7 a * ,e*i-183,025
202 ,382
6,1 9 4
5,8 9 7
R e n t , com m is s io n s & c .
4 ,0 5 4

1903.
$
9 ,0 1 4 ,0 1 4
3 ,3 5 0 ,5 1 4
1 7 ,6 7 7 ,7 4 8
7 4 ,3 5 0
174,011
9,202

G ross e a rn in g s ________
E x p en se s—
R e n t _____________________
S a l a r i e s __________________
A d v e r tis in g ____________
S ta tio n e r y ______________
T a x e s a n d g e n . exp en ses

421 ,9 8 9

301 ,0 4 7

257 ,565

6,053
5 3 ,788
8,8 9 4
2,7 6 8
17,095

6,3 4 3
4 6 ,6 7 0 i
5,4 6 2
3,238
31,5 2 2 I

5 ,9 5 4
42,377
4 ,1 0 4
1,394
39,4 3 6

5,912
3 8,221
3 ,9 8 8
2,081
35,591

^ G ross e x p e n s e s ----------N e t e a r n in g s.
D iv id e n d s p a id ---------------

88,5 9 9
333 ,389
(8 )2 0 0 ,0 0 0

9 3,2 3 7
2 81 .665
(7 )1 7 5 ,0 0 0 '

9 3 ,2 6 7
2 07 ,780
(6 )1 5 0 ,0 0 0

8 5 ,7 9 4
1 71 ,770
(5 )1 2 5 ,0 0 0

374 ,9 0 2

B a la n ce , s u r p lu s ___
133 ,389
106 .665
57,7 8 0
4 6 ,770
th e u n e a rn e d p re m iu m s ,
w h ic h c o n s ist o f t h e c o m p a n y ’s c o n t r a c t p r o fit o f
o f 1 % per annum on
o u ts ta n d in g m o r tg a g e s fr o m th e d a te o f th e an n u a l sta te m e n t t o th e m a ­
t u r it y o f th e m o r tg a g e s .
T h e se u n ea rn ed p re m iu m s w h ic h , as fu tu re p ro fits
a re n o t c a rrie d as a ssets, h a v e In creased as fo llo w s : J a n . 1 190 3, $10 3 ,5 5 5 ;
J a n .,1 190 4, $ 1 4 9 ,2 5 7 ; J a n . 1 1 90 5, $ 2 7 9 ,9 4 8 ; J a n . 1 1 90 6, $ 4 4 9 ,2 0 0 ; Ja n . 1
1 9 0 7 , $ 5 9 1 ,5 0 8 ; t o t a l n et In crease sin ce J a n . 1 190 3, $ 4 8 7 ,9 5 3 .
B A L A N C E S H E E T D E C . 31.
1906.
1905.
1906.
1905.
Assets__
$
$
Liabilities—
$
$
N . Y . City m t g e s .. . 4,532,688 3,684,526 C a p it a l ...................... 2,500,000 2,500,000
Co’s Bklyn bldg. cost
85.000
85,000 S u r p lu s ...................... 1,750.000 1,500,000
371 B ’ dw ay, at cost______
174,416 U ndivided profits___
28,181 144,263
C a sh............- .......... ..
209,417
204.320 Mtgs. sold .not deliv’ d 548.924
Unfinished contracts.
______
4,000
371 B roadw ay____
T o t a l .......................4,827,105 4,148,263] T o t a l ....................... 4,827,105 4,148,263
T h ere are 4,1 6 0 g u a r a n te e d lo a n s o u ts ta n d in g (see “ o p e r a tio n s ” a b o v e )
t h e a v e r a g e lo a n In M a n h a tta n a m o u n tin g t o $ 2 8 ,8 4 0 . In B r o o k ly n t o $ 5 ,776 a n d In T h e B r o n x t o $ 1 1 ,5 0 7 .— V . 8 3 , p . 216.

(The) H . B. Claflin Company (New York.)
{Report for the Season Ending Dec. 31 1906.)
President John Claflin says:
O u r n et p rofits fo r th e s ix m o n th s w e re $ 4 0 9 ,1 1 9 , a g a in st $50 3 ,4 9 4 fo r
t h e co r re sp o n d in g p e r io d In 1 90 5. F o r t h e y e a r 1906 n e t p r o fits w e re
$ 7 6 1 ,3 7 7 , as a ga in st $82 1 ,4 2 8 fo r th e y e a r 1 90 5. T h e re w as ea rn e d fo r
c o m m o n s t o c k in th e sp rin g o f 1906 5 .4 9 % a n d In th e fa ll 6 .9 7 % ; to ta l
f o r y e a r 1 90 6, 1 2 .4 6 % . T h e o u t lo o k fo r th e sp rin g o f 1907 is e x c e lle n t.
I N C O M E A C C O U N T H A L F - Y E A R E N D I N G D E C . 31
6 M o n th s to
N et
— In terest
& D iv id en d s—
D e c . 31—
e a rn 'os.
P r e f . S to ck .
C om . stock.
1906 ____________ ______ $4 0 9 ,1 1 8
$ 1 4 2 ,1 2 6
(4) $15 3 ,1 6 4
1 4 2 ,1 2 6
(4)
153 ,1 6 4
1905 ___________________ 5 0 3 ,4 9 3
1904 ___________________ 3 2 0 ,9 3 7
1 4 2 ,1 2 6
(4)
1 53 ,164
1903 ___________________ 3 1 5 ,8 5 2
1 4 2 ,1 2 6
(4)
153 ,164
1902 ___________________ 3 1 2 ,1 8 5
1 4 2 ,1 2 6
(4)
153 ,1 6 4
1 9 0 1 _______ _______ 34 7 ,4 5 7
1 4 2 ,1 2 6
(4)
1 5 3 ,1 6 4
1900 ___________________ 3 0 2 ,0 4 5
1 4 2 ,1 2 6
(4)
153 ,1 6 4
1 4 2 ,1 2 6
(4)
1 5 3 ,1 6 4
1899 .................................. 640 ,819
1898 ___________ - ______ 2 8 5 ,2 9 7
1 4 2 ,1 2 5
(3)
1 1 4 ,8 7 3
1 8 9 7 ____________ ______ 3 0 1 ,3 3 9
1 4 2 ,1 2 5
(3)
1 1 4 ,8 7 3
IN C O M E A C C O U N T
1906 - - - ............. - ........... $76 1 ,3 7 7
1905 ___________________ 8 2 1 ,4 2 7
1904 _______ _______ 6 3 1 ,6 9 7
1903 ___________________ 6 1 9 ,8 4 7
1902 ___________________ 629 ,5 6 3
1 9 0 1 ___________________ 650 ,5 5 5
1900 ___________________ 9 1 4 ,3 5 4
1899 ........ .............. ......... 1 ,2 4 7 ,8 5 1
1898 ________ ______ 5 2 6 ,5 4 5
1897 ___________________ 5 1 0 ,9 4 4

Assets—
C a sh______ ________
D iv id e n d s -----------Bills receivable___
Open accounts____
M erchandise_____
8tore property-----Stable.......................
Horses, trucks, &c

1906.
B a la n ce,
su rp lu s.
$11 3,82 9
208 ,204
25,6 4 7
20,5 6 3
16,895
52,167
6,755
345 ,529
28,299
44,341

Y E A R E N D IN G D E C . 31.
$28 4 ,2 5 2
(5) $ 3 0 6 ,3 2 8
$170 ,797
2 8 4 ,2 5 2
(8)
3 0 6 ,3 2 8
230 ,847
(8)
3 0 6 ,3 2 8
2 8 4 ,2 5 2
41 ,117
2 8 4 ,2 5 2
(8)
3 0 6 ,3 2 8
29 ,269
2 84 ,252
(8)
3 06 ,328
38 ,983
2 8 4 ,2 5 2
(8)
3 0 6 ,3 2 8
59 ,975
2 8 4 ,2 5 2
(8)
3 0 6 ,3 2 8
323 ,774
( 7 ^ ) 2 8 7 ,1 5 2
2 8 4 ,2 5 2
676 ,447
(6)
2 2 9 ,7 4 6
2 8 4 ,2 5 2
12 ,547
(6)
2 2 9 ,7 4 6
2 8 4 ,2 5 2
d e f. 3 ,055

B A L A N C E S H E E T D E C . 31.
1906.
1905.
I
1906.
$
Liabilities—
S
$
2,352,674 1,930,218 Capital stock _____ z 9 ,000,000
171,332
171,332 Open accounts____ 5,912,408
2,503,119 1,900,088 Foreign exch ., & c.
297,733
2,248,774 1,583,9931Surplus reserve___2/1,590,260
7,125,881 7,093,6911Profits during the
2,739,182 2,739,1821 f a l l .................. —
409,118
27,197
27,1971
27,422|
41,360

T o t a l ...................17.209.519 15.473,1241

1905.
$
9,000,000
4,282,595
361,949
1.325,087
503,494

T o t a l ................... 17.209,519 15.473,124

* Includes first preferred stock, $2,600,300; second preferred stock, $2,570,600;
com m on stock, $3,829,100.
V A fter providing for Interest on preferred stocks to D ec. 31 and dividend on com ­
m on stock to be declared In January, payable Jan. 15 1907. "T o ta l dividends to
date, $9,326.257.*'— V. 84. p> 105.

American Malt Corporation.
{Official Statement of Dec. 29 1906.)
The statement made to the New York Stock Exchange
upon the listing of the company’s shares (V. 84, p. 104)
says in substance:
T h e c o r p o r a t io n w as o r g a n iz e d u n d e r th e la w s o f N e w J e rse y o n M arch 31
1 9 0 6 . w ith an a u th o r iz e d c a p ita l s t o c k o f $ 1 5 ,0 0 0 ,0 0 0 In shares o f
$100 e a c h , all o f w h ic h has b e e n Issued.
O f said s t o c k $ 9 ,0 0 0 ,0 0 0 Is
c u m u la tiv e p referred s t o c k , e n title d t o r e c e iv e fro m t h e su rp lu s o r n et
p r o fits arising fro m th e business o f th e c o r p o r a t io n d iv id e n d s a t th e ra te
o f , b u t n o t e x c e e d in g , 4 % p er a n n u m , fro m A p ril 1 1906 u n til O c t . 1 1906,
a n d a t t h e ra te o f , b u t n o t e x c e e d in g , 6 % p er a n n u m fro m an d a ft e r O c t . 1
1 9 0 6 , w h en d ecla red b y th e b o a r d o f d ir e c t o r s . T h e h o ld e r s o f th e $6 ,0 0 0 ,0 0 0 c o m m o n s t o c k a re e n title d t o r e c e iv e all m o n e y s a p p r o p r ia t e d t o
d iv id e n d s a fte r th e p a y m e n t o f d iv id e n d s as a fo re sa id on t h e p re fe rre d
stock .
In ca se o f liq u id a tio n th e h o ld e rs o f t h e p re fe rre d s t o c k are e n title d
t o t h e p a r a m o u n t o f th eir shares and th e u n p a id d iv id e n d s a c c r u e d t h e r e o n ,
a n d th e h old ers o f th e c o m m o n s t o c k t o th e r e m a in in g assets.
T h e c o r p o r a t io n Is a h o ld in g c o m p a n y , o rg a n iz e d t o a c q u ir e th e s t o c k
o f A m e r ic a n M a ltin g C o. pu rsu a n t t o a p la n , d a te d J u ly 6 1905 (V . 8 1 ,
p . 2 6 6 , 1 0 4 3 ).
S to c k h o ld e r s o f A m e r ic a n M altin g C o . d e p o s itin g th e ir
s t o c k u n d er said plan re c e iv e d in e x c h a n g e fo r e a ch $100 o f o ld p re fe rr e d
s t o c k $62 n ew p referred s t o c k , a n d In e x c h a n g e fo r ea ch $100 o f o ld c o m m o n
s t o c k $44 n ew c o m m o n s t o c k .
A t th is d a te (D e c . 29 1906) th e r e h a v e
b e e n su rren d ered u n d e r sa id p la n $ 1 3 ,4 7 3 ,1 0 0 o f p r e fe rre d s t o c k a n d




[YOL. LXXX1V.

$ 1 1 ,9 2 5 ,6 0 0 o f c o m m o n s t o c k o f sa id A m e r ic a n M a ltin g C o ., o u t o f a to t a l
o f $ 1 4 ,4 4 0 ,0 0 0 p re fe rre d s t o c k a n d $ 1 3 ,4 0 0 ,0 0 0 c o m m o n s t o c k issu ed a n d
o u ts ta n d in g .
D is p o s itio n o f S tock o f A m e r ica n M a lt C o rp o ra tio n — $ 6 ,0 0 0 ,0 0 0 com m on ,
$ 9 ,0 0 0 ,0 0 0 preferred.
C om m on.
P re fer r e d .
Issu e d fo r s t o c k A m e r ic a n M altin g C o ________________ $ 3 ,1 1 7 ,1 0 0
$ 5 ,7 4 6 ,1 0 0
Issu e d fo r s t o c k A m e r ic a n M a ltin g C o . , b u t still t o
b e e x c h a n g e d fo r d e p o s it r e c e ip t s __________________ 2 ,1 3 0 ,2 0 0
2 ,6 0 7 ,3 0 0
T r u s te e d , a v a ila b le fo r e x c h a n g e fo r s t o c k o f A m e r i6 4 8 ,7 0 0
5 9 9 ,4 0 0
• c a n M a ltin g C o ., o u t s t a n d in g _______________________
Issu e d t o in c o rp o ra to r s fo r c a s h _______________________
1,000
_______
Issu ed t o tru s te e a n d a v a ila b le fo r c o r p o r a t e p u rp o se s
o f c o r p o r a t i o n _______________________________________
1 0 3 ,0 0 0
4 7 ,2 0 0
T h e s t o c k o f A m e r ic a n M a ltin g C o . n o w o u t s ta n d in g w ill b e r e c e iv e d
o n th e basis h e re in b e fo re m e n t io n e d , o r u p o n s u c h te rm s as m a y b e a greed
" t o F e b . 1 1907 unless fu r th e r e x t e n d e d b y o r d e r o f th is b o a r d .”
A m e r ic a n M a ltin g C o . c o n t in u e s as h e r e to fo r e t o e n g a g e In th e business
o f m a n u fa c tu r in g a n d sellin g m a lt a n d its b y -p r o d u c t s in t h e S ta tes o f
N e w Y o r k , P e n n s y lv a n ia , Illin o is , O h io , M ic h ig a n , W is c o n s in , a n d g e n e r a lly
th r o u g h o u t t h e U n ite d S ta te s.
P la n ts o f A m e r ica n M a ltin g C o ., A l l Owned in F e e b y It.
N e w Y o r k C ity — E n tire b lo c k b o u n d e d b y A v e . A , 6 3 d S t ., E a s t R iv e r a n d
64th S t ., a n d m a lt h o u se th e r e o n .
B u ffa lo — M alt h o u s e , c o r n e r W illia m an d P r a tt str e e ts , fo r m e r ly o w n e d b y
e sta te o f C harles G . C u rtiss, 333 f t . b y 12834 f t.
B u ffa lo — M alt h ou se a n d e le v a to r s ju s t c o m p le te d o n C h ilds S t. a n d B u ffa lo
R iv e r , sa id p r o p e r t y h a v in g a b o u t 450 f t . o f fro n ta g e o n B u ffa lo R iv e r
an d a b o u t 300 f t . o n C h ilds S t ., c o n ta in in g a p p r o x im a t e ly 3 H a cres.
S y r a c u s e , N . Y . — M alt h o u se In First W a r d a n d p a rt o f M arsh L o t 25
O n o n d a g a S a lt S p rin g s R e s e r v a tio n , fo r m e r ly o w n e d b y C . M . W a r n e r
M a ltin g C o.
S ix te e n m a lt h ou ses a n d lo ts t h e r e w ith , lo c a te d s e v e r a lly as fo llo w s :
S o u th R o n d o u t , U ls te r C o ., N . Y . , 300 f t . b y 3 4 7 f t (fo r m e r ly o w n e d
b y N e ld lln g e r & S o n s ) .
C a y u g a , N . Y . , fo r m e r ly o w n e d b y N e id lin g e r & S o n s.
E r ie , P a ., c o r n e r 16th S t. a n d P a ra d e S t ., fo rm e r ly o w n e d b y e sta te o f
J a c o b W e c h s le r .
H a m ilt o n , O h io , f o r m e r ly o w n e d b y S o h n g e n M a ltin g C o .
D e tr o it , o n G ra n d R iv e r A v e ., fo r m e r ly o w n e d b y H o w a r d -N o r t h w o o d
M alt M fg . C o.
C h ic a g o .— In E ls to n A d d it io n , p r o p e r t y fo r m e r ly o w n e d b y J o h n C a rd en ,
J r.
I n C o o k a n d A n d e r s o n ’s S u b -d iv ls lo n , fo r m e r ly o w n e d b y
B ra n d , B u lle n & G u n d & C o .
In C h ica g o G ra in C o m p a n y ’s A d d it io n p r o p e r t y fo rm e r ly
o w n e d b y F r e d . F . B u llen M a ltin g C o.
I n E ls to n A d d it io n , p r o p e r t y fo r m e r ly o w n e d b y H a le s & Cur­
tis M a ltin g C o.
In E ls to n A d d it i o n , p r o p e r t y fo r m e r ly o w n e d b y D a v id H .
C a rd e n .
O n L a ra b e e S t ., p r o p e r t y fo r m e r ly o w n e d b y W . H . P u rc e ll C o.
K e n s in g to n B r a n ch , fo rm e r ly o w n e d b y W . H . P u rce ll C o.
M ilw a u k e e — O n S o u th W a te r S t ., p r o p e r t y fo r m e r ly o w n e d b y K ra u sM erkel M a ltin g C o .
I n F ifth W a r d , p r o p e r t y fo r m e r ly o w n e d b y M ilw a u k ee M alt
& G rain C o .
In T w e lft h W a r d , p r o p e r t y fo rm e r ly o w n e d b y H a n sen H o p &
M alt C o.
W a t e r t o w n , W ls .— I n F irst W a r d , p r o p e r t y fo rm e r ly o w n e d b y W illia m
B u ck h e lt M a ltin g C o.
A m e r ic a n M a ltin g C o . has o u ts ta n d in g $ 3 ,7 1 4 ,0 0 0 first m o r tg a g e 6 %
g o ld b o n d s d u e D e c . 1 1914 o u t o f a t o t a l issue o f $ 5 ,0 0 0 ,0 0 0 a u th o r iz e d
u n d e r m o r tg a g e d a t e d N o v e m b e r 20 189 9, o f w h ic h $ 2 8 6,00 0 h a v e b e e n re­
d e e m e d b y t h e sinklrig f u n d , a n d $ 1 ,0 0 0 ,0 0 0 h a v e n e v e r b e e n Issu ed.
(C o m p a re V . 69, p . 9 5 6 , 1 0 1 3 , 119 5 .)
A sum eq u a l t o o n e -h a lf o f t h e
a g g re g a te a m o u n t o f a n y d iv id e n d d e c la r e d b y th e c o m p a n y u p o n Its
p re fe rre d s to c k a n d a n y s u m s r e c e iv e d o n th e relea se o f p r o p e r t y fro m
t h e m o r tg a g e shall b e p a id t o th e s in k in g fu n d f o r t h e r e d e m p tio n o f th ese
b o n d s b y ca ll a t 105 a n d In terest, if n o t p u r c h a s a b le a t t h a t p rice o r less.
B A L A N C E S H E E T A M E R I C A N M A L T C O R P O R A T I O N D E C . 28 190 6A s s e ts.
|
L ia b ilitie s .
C a s h ------------------------------------3 5 1C o m m o n s t o c k ____________ $ 6 ,0 0 0 ,0 0 0
A m e r ic a n M a ltin g C o .—
) P r e fe r re d s t o c k ____________ 9 ,0 0 0 ,0 0 0
P r e f. s t o c k (p a r $ 1 3 ,|A c c o u n t s p a y a b l e ____
___ 21,000
4 7 3 .1 0 0 )
8 ,353,3221
C o m m o n s t o c k (p ar $11,9 2 5 ,6 0 0 ) ______________ 5,247,264|
A m . M a lt C o r p ., in tru s t —
P r e f. s t o c k (p a r $ 1 ,0 1 4 .1 0 0 ) - .......................
646,6781
C o m m o n s t o c k (p a r , $1 ,5 7 7 ,4 0 0 ) .........................
751,7361
O rg a n iz a tio n e x p e n s e s ___
2 1 ,9 6 5 )
T o t a l - --------- ------------------$ 1 5 ,0 2 1 ,0 0 0 1 T o t a l ....................................$ 1 5 ,021,008
(T h e In co m e a c c o u n t a n d b a la n c e sh e e t o f th e A m e r ic a n M a ltin g C o . as
fu rn ish e d t o th e e x c h a n g e axe th o s e s h o w n In th e la st an n u a l r e p o r t , V . 8 3 ,
p . 109 7.)
P r in cip a l o f fic e , 15 E x ch a n g e P la c e , J e rse y C it y , N . J . T ra n sfe r a g en t
f o r s t o c k , T h e S ta n d a rd T r u s t C o ., 25 B r o a d S t ., N ew Y o r k .
R e g istra r o f
s t o c k , G u a ra n ty T ru s t C o . , 30 N assau S t . , N e w Y o r k . T h e an n u a l m eetin g
Is h e ld o n th e first T u e s d a y o f A p ril in e a c h y e a r .
D ir e c to r s — T e r m e x p ir in g A p ril 190 7: B e n ja m in T r e a c y , C harles A ,
S ta d le r , A . M u rray Y o u n g : T e r m e x p ir in g A p r il 1 90 8: M a rlon J . V e r d e r y .
W llb e r fo r c e S u lly , M ich a el C o le m a n ; T e r m e x p ir in g A p ril 1909: T . H .
M c F a r la n d . J o h n G . Jen k in s, L ou is L . S ta n to n
P r e s id e n t, B enjam ha
T r e a c y ; V ic e -P r e s id e n t, S e y m o u r S c o t t ; S e c r e ta r y , E d w a r d C . P a lm er;
T re a su re r, F ra n k J e n k in s .— V . 8 4 , p . 104.

Realty Associates, Brooklyn, N . Y .
{Report for Fiscal Year ending Oct. 31 1906.)
The report says in substance:
T h e c o m p a n y has b o u g h t d u rin g t h e y e a r p r o p e r tie s c o s t in g $ 1 ,5 1 3 ,5 8 8 ,
co m p r is in g 81 d w e llin g s , 15 fla t b u ild in g s , 20 sto re a n d fla t b u ild in g s , 7
s to r e s , 1 s ta b le , 8 u n im p r o v e d p lo t s ; a n d has m a d e sales o f p ro p e rtie s
a m o u n tin g t o $ 2 ,3 3 5 ,1 9 6 , n a m e ly , 148 d w e llin g s , 31 fla t b u ild in g s , 64 s to r e
a n d fla t b u ild in g s , 9 s to r e s , 6 u n im p r o v e d p lo t s . T h e c o m p a n y has n o t .
h o w e v e r , m a te r ia lly r e d u c e d Its to t a l real e sta te h o ld in g s . T h e ca sh In­
v e s te d in real esta te Is a b o u t th e sa m e as th e cash s o In v e ste d o n e y e a r a g o .
T h e p r o p e r tie s p u rch a s e d h a v e b e e n d iversified In ch a r a c te r a n d m a in ly In
th e o ld e r s e c tio n s o f B r o o k ly n , as h e r e to fo r e . A ll th e a cre a g e h e r e to fo r e
p u r c h a s e d w as d e v e lo p e d an d lo ts s o ld t o s u ch an e x te n t t h a t th e su ccess
o f th e o p e ra tio n s w as a ssu re d , an d th e c o m p a n y has d u rin g th e y e a r m a d e
t w o a d d itio n a l In v e stm e n ts In a cre a g e a g g re g a tin g a b o u t $ 2 5 0 ,0 0 0 , th e lo ­
ca lities b e in g n e a r a t h a n d a n d s u ch as t o w a rra n t Im m e d ia te d e v e lo p m e n t
a n d o c c u p a t io n .
T h e h o ld in g s n o w co n s ist o f 471 d w e llin g s , 79 fla t b u ild in g s , 110 s to r e a n d
fla t b u ild in g s , 37 s to r e s , 7 s ta b le s , 27 u n im p r o v e d p lo t s . T h e c o m p a n y
has In v e ste d d u rin g th e y e a r $ 3 3 0,00 0 In m o r tg a g e s , a n d th e t o t a l m o r t ­
g a g e In v e stm e n ts are n o w $ 6 0 7 ,4 4 7 , e x c lu s iv e o f p u rch a s e m o n e y m o r tg a g e s .
P u rch a se m o n e y a n d o th e r se c o n d m o r tg a g e s a re ca rrie d a t 9 0 % o f th eir
fa c e v a lu e , 1 0 % b e in g ca rrie d in a fu n d t o p r o v id e a g a in st p o s s ib le losses.
D u rin g th e y e a r $ 9 2 ,7 2 3 has b e e n a d d e d t o th is re se rv e a c c o u n t , w h ic h r e p ­
resen ts d e fe rre d p ro fits w h ich w e d o n o t w ish t o c o u n t u n til rea lized
T h e c o m p a n y has ta k e n a d v a n ta g e o f th e o p p o r t u n it y t o c o -o p e r a te w ith
th e T it le G u a r a n ty & T ru s t C o . In th e m a k in g a n d sellin g o f large m o r tg a g e
lo a n s o n tr a c ts o f la n d o r larg e b u ild in g o p e r a tio n s w h ic h se e m e d s o u n d
e n o u g h t o ju s t if y lt.
T h e m o rtg a g e s are m a d e t o th e T itle G u r a a n ty &
T ru s t C o . as tru s te e , a n d th e R e a lt y A ss o cia te s b u y s th e b o n d s a n d sells
th e m , w ith p a y m e n t g u a r a n te e d , a t a lo w e r ra te o f in te re s t, m a k in g t h e
d iffe re n ce w ith o u t o u t la y o f c a p ita l, su ccess d e p e n d in g u p o n th e c r e d it o f
th e c o m p a n y a n d th e lim itin g o f th e o p e r a tio n s t o p r o p e r tie s w h ic h h a v e
be e n In v e stig a te d b y th e b u y in g c o m m it t e e In th e sa m e c a re fu l m a n n er
as are th e pu rch ases o f th e c o m p a n y .
B o n d s o f this ch a r a c te r a n d m o r t ­
ga ges a g g r e g a tin g $ 1 ,1 5 6 ,0 0 0 h a v e b e e n g u a ra n te e d b y th e c o m p a n y . T h e
a m o u n t o f su ch gu aran ties th a t t h e c o m p a n y m a y e n te r In to has b e e n lim ­
ite d b y t h e d ir e cto r s t o $ 5 ,0 0 0 ,0 0 0 .
T h e n e t In com e fro m ren ts a n d Interest fo r th e fiscal y e a r , a fte r p a y in g all
e x p e n s e s an d ta x e s to g e th e r w ith th e p ro fits o n sa le s, a m o u n ts t o $ 6 5 3 ,6 5 5 .

J a n . 19 1907.]

157

THE CHRONICLE.

STATEM EN T FOB

Y E A R E N D I N G O C T . 31.
190 6.
190 5.
1904.
$
$
$
R e c e ip ts fro m r e n ts ____________________
532 ,4 2 2
4 8 7 ,9 3 0
4 67 ,719
In teres t o n b o n d s a n d m o r tg a g e s ____
9 0 ,7 0 6
5 5 ,8 2 6
43,3 2 8
P r o fits o n sales o f real e s t a t e __________
5 3 8 ,0 0 2
4 6 3 ,4 2 9
90,4 2 8
D iv id e n d s , c o m m is s io n s , & c __________
22,4 5 9
4 9 ,0 7 8
14,894
lia
-------------------- -------------------- -------------------fc•T o t a l r e c e ip t s _______________________
1 ,1 8 3 ,5 8 9
1 ,0 5 6 ,2 6 3
616 ,368
D ed u ct—
B e a l e s ta te e x p e n s e , less ch a rg e d to
K* ca p ita l fo r b e tte r m e n ts ______________
2 2 4 ,4 0 9
2 1 1 ,9 8 7
199,211
I n t. o n b o n d s & m o r ts . p a y a b le ______
1 30 ,785
1 06 ,035
108 ,096
G en eral e x p e n s e .............................. ............
6 0 ,8 0 9
5 2 ,2 2 1
38,541
D iv id e n d s (see n o te b e l o w ) ________
(8 )3 1 9 ,9 7 3
(6 )2 2 2 ,3 2 8
(5 )1 5 0 ,0 0 0
113 ,931
1 03 ,925
25,791
A m t . r eserv ed fo r p r o flt-s h a r e r s --------T o t a l d e d u c t io n s ____________________
8 4 9 ,9 0 7
6 9 6 ,4 9 5
5 21 ,639
B a la n c e , su rp lu s fo r y e a r ______________
3 3 3 ,6 8 2
3 5 9 ,7 6 7
94,7 2 9
N o te .— T h e d iv id e n d s fo r th e y e a r 1905-06 in clu d e t w o s e m i-a n n u a l d is ­
t r ib u tio n s o f 3 % ea ch a n d a n e x tr a 2 % p a id O ct. 15. ( V . 8 3 , p . 76 7 .)

Rapid Transit Company. By these transactions the
capital stock was increased first from $4,070,000 to $4,420,000 and then to $6,750,000, $2,500,000 of this last amount
being preferred. The consolidation has now been completed.
The company will construct and operate a trolley line from
Buffalo, N. Y ., to Erie, Pa. Joseph B. Mayer of New York
is President. Parker, Hatch & Sheehan of this city had
charge of the consolidation.
g*-J
Mortgage.— A “ first and refunding mortgage” has been
made to the New York Trust Co., as trustee, to secure $12,000,000 30-year 5 % gold bonds dated Nov. 1 1906 and due
Nov. 1 1936, but subject to call on the first day of any^May
or Nov. on or before Nov. 1 1911 at 105 and interest, and
thereafter at 110. These bonds are issuable only as follows:

T o b e d eliv ered u p o n t h e ord er o f th e P resid en t a n d T rea su rer
o f th e c o m p a n y t o p a y ce rta in in d eb ted n ess in cu rre d p rio r t o
B A L A N C E S H E E T OCT. 31.
th e co n s o lid a tio n b y th e L a k e E rie E le c tr ic T r a c t io n C o .,
1906.
1905. I
1906.
1905.
E rie R a p id T ra n sit C o. a n d B u ffa lo D u n k irk & W e s te rn R R . ,
Assets—
S
S
Liabilities—
S
S
•Sail o f w h ic h has b e e n a ssu m ed b y th e c o m p a n y ; a lso fo r im p r o v ­
C a s h ............................
66,316
24,320 Capital stock____________4,000,000 4,000,000
in g , e x te n d in g an d e q u ip p in g th e c o m p a n y ’s p r o p e r t y __________$ 4 ,5 0 0 ,0 0 0
R ea lest. (a t c ost)___6,545,019 6,800,159 Mortgages p a y a b le ..3,383,900 3,344,075 R e ta in e d b y th e tru stee to p r o v id e fo r fu tu re e x te n s io n s , a d d i­
M ortg ages__________ 1,439,913
1,123,271 Notes payable..................--------------20,000
tion s a n d im p ro v e m e n ts u n d er re s trictio n s in m o r tg a g e _______ 2 ,5 0 0 ,0 0 0
Loans on co lla te r a l..
83,455
----------A ccr’ d exp. (e st.)—
63,558
57,238
R e s e r v e d fo r e x te n sio n s o r im p r o v e m e n ts , b u t issu able o n ly
-a*
Stocks and bonds___ 386,197
148,927 Sundry accounts-------------37,2243 21,835
u n d e r strin gen t p ro v is io n s w h e n th e e a rn in g s o f t h e p r o p e r t y
R eal estate contracts 124,536
72,9041Reserved for profltc o v e r e d b y th e m o r tg a g e in c lu d in g t h e p r o p e r t y fo r w h ic h th e
Tools, flxt’s & supp's
3,081
4,1571 sharers
113,931
103,925
a d d itio n a l b o n d s a re issu ed , h a v e b e e n a t le a st § 1 0 0 ,0 0 0 in
860
3,4 2 2 1Def. profs, to sec. M’s 102,241
Due from tenants___
e x c e s s o f all o p e r a tin g e x p e n s e s a n d fix e d ch a r g e s fo r t h e p r e ­
In t. due an 1 accr’d . 36,999
25,179 j Undivided profits_________
25,124 291,442
ce d in g tw e lv e m o n th s , In clu d in g th e in te re st o n t h e b o n d s th e n
T a x ., & c., p ’d in a d v . 20,806
23,147|Surplus x l , 000,000
400,000
t o b e is su e d _________________________________________________________ 2 ,9 0 0 ,0 0 0
Sundry accounts-----18,796
13,0291
R e se rv e d t o retire th e fo llo w in g u n d e rly in g b o n d s:
E le c ­
tric M o to r C o. $14 8,00 0 1st m o rtg a g e 6s, §1 0 2 ,0 0 0 2 n d m o r t­
T otal assets______ 8,725,978 8,238,5151 T otal lia b ilitie s --8 ,7 2 5 ,9 7 8 8,238,515
g a g e 6s a n d §1 ,0 0 0 ,0 0 0 1st re fu n d in g m o r tg a g e 5s; H a m b u rg
R a ilw a y § 7 5 0 ,0 0 0 1st m o rtg a g e g o ld 4s d a te d N o v . 1 1906
*
Surplus O ct. 31 1905, $400,000; add surplus for 1905-06, as above, $333,682,
(co m p a re V . 8 3 , p . 1 5 2 4 ), o f w h ich § 6 5 0 ,0 0 0 a re o u tsta n d in g
and $266,318 from "undivided profits; total, S1,000,000.
a n d th e rem a in d er are t o b e issu ed; D u n k ir k & F re d o n ia R R .
D ir e c to rs — F r a n k , B a ile y , H e n r y B a tte r m a n , C harles S . B r o w n , A n d r e w
§4 0 ,0 0 0 1st m o rtg a g e 5s, §2 1 ,0 0 0 2n d m o rtg a g e 5s a n d §3 9 ,0 0 0
D . B a ird , C h arles R . H e n d e r s o n , J o h n D . H ic k s , M artin J o o s t , A u g u s tu s D .
c o n s o lid a te d a n d refu n d in g m o r tg a g e 5 s _________________________ 2 100,000
J u lllia r d , C la ren ce H . K e ls e y , Jam es M c M a h o n , A le x a n d e r E . O rr, Charles — V . 8 3 , p . 1410.
A . P e a b o d y , C liffo r d S . K e ls e y , F r e d e r ic k P o t t e r , D o u g la s R o b in s o n , E llis
Chicago & Alton RR.— Notes Sold.— Kuhn, Loeb & Co.
D .H W lillam s.
O ffic e r s— J o h n D . H ic k s , P re sid e n t; F r a n k B a ile y , V ic e -P r e s id e n t; C lif­ have arranged to purchase an issue of $6,000,000 of 5-year
f o r d S . K e ls e y , 2d V ic e -P r e s .; H e n r y A . F r e y , T r e a s .; R o b e r t W h e e la n ,
5% notes, to be secured by deposit of $8,000,000 of the 3%
Secy.
O ffic e , 176 R e m s e n S tr e e t, B r o o k ly n .— V . 8 3 , p . 76 7 .

bonds of 1899. Of the issue, $5,250,000 will be reservedjx)
American Graphophone Company.
retire the $5,000,000 notes due July 1907, the $7,000,000*of
3% notes to be released bn payment of the latter to form part
(jReport for Fiscal Year ending Sept. 30 1906.)
of the^collateral for the newjiotes.— V.^83, p. 1523
The comparative statements of income account and bal­
Chicago &JNorth WesternJly.— Option JoASubscribe to^New
ance sheet follow:
Stock.— As announced by advertisement on another page,
E A R N IN G S , E X P E N S E S A N D C H A R G E S .
190 5-06.
190 3-0 4, the board of directors on Jan. 15 voted to offer to sharehold­
1 9 0 4 -0 5 .
§ 8 4 2 ,2 6 6
§ 8 0 3 ,6 4 3 /
§6 9 8 ,3 6 0 ers of record Feb. 2 1907 the right to subscribe at par,Jin
N et fro m o p e r a t io n s __________________1
3 1 ,5 6 5
M is c e lla n e o u s ........................... ................ J
I
amounts equal to 2 5% of their respective holdings, to $24,§ 8 4 2 ,2 6 6
§7 2 9 ,9 2 5
§ 8 0 3 ,6 4 3
T o t a l e a r n in g s ................................ .........
403,000 of the new common stock authorized by the
D ed u c t—
Oct. 18 1906. The proceeds will be
§ 1 6 ,3 9 6
§ 9 ,0 6 5
§ 4 ,7 2 2 shareholders on
In terest o n d e b e n tu r e s . --------------------_______
6,000
6,000
used by the company “ for the purpose of constructing, im­
In terest o n f a c t o r y m o r tg a g e --------------2 1 ,4 1 6
13,607
1 4 ,0 4 8
In teres t o n c o u p o n n o t e s -------------32,409
2 8 ,6 9 8
817 ,736 proving and equipping its railway,” including, it is supposed,
I n terest o n loa n s & bills p a y a b le --------6 4 ,2 6 6
7 7 ,169
at least a portion of the cost (about $20,000,000) of the new
51,221
M a in ten a n ce
—
----------------- .
50,6 4 9
64,189
32,741
D e p r e c ia t io n , & c --------------- ------passenger terminals at Chicago. (V. 83, p. 1037, 890.)
8$
145 ,893
117 ,210
9 2 ,346
D iv id e n d o n p referred s t o c k ( 7 % ) ___
The right to subscribe to the new stock will terminate with
(5 )1 0 2 ,8 4 3
(4 )5 4 ,0 6 7
(2 )2 4 ,0 3 4
D iv id e n d o n c o m m o n s t o c k __________
190 ,000
160 ,000
R e s e r v e d fo r d e p r e c ia t io n ________
28 0 ,0 0 0
March 16 1907, on or before which last-mentioned day pay­
ments for all amounts subscribed shall be made. Certificates
§ 6 4 8 ,5 0 6
§5 0 5 ,3 7 1
§ 5 2 2 ,8 4 7
T o t a l .............................................................
§2 9 8 ,2 7 2
§ 1 9 3 ,7 6 0
§ 2 0 7 ,0 7 8 of stock for the amounts so paid will be issued and dated on
S u rp lu s f o r y e a r - ________ . . —
..
1,0 2 7 ,7 5 4
729 ,481
522 ,4 0 3
S u rp lu s a t en d o f p r e v io u s y e a r . ____
March 18 1907, for all full shares, which stock shall be entitled
§ 1 ,0 2 7 ,7 5 4
§ 7 2 9 ,4 8 1
T o t a l s u r p lu s ________________________ § 1 ,2 2 1 ,5 1 4
to all dividends thereafter paid.
B A L A N C E S H E E T S E P T . 30.
Payment of Maturing Bonds.— The $600,000 Des Moines
1906.
1905. I
1906.
1905.
& Minneapolis R R . first mortgage 7 % bonds and the $436,Liabilities—
S
Assets—
S
$
000 Milwaukee Lake Shore & Western Ry. 20-year deben­
Common sto ck --------2,497,650 1.S02.000
Patents, franchises,
good-will. & c......... 1,750,644 1,341,042 Preferred sto ck _____ 2,095,430 2,047,890
tures maturing Feb. 1 1907 will be paid, when due, upon
Stock n ot issued-----144
144 M ortgage on factory
presentation at the office of the Treasurer of the Chicago &
P l a n t s .........................1,985.761 1,572.420
100,000
100,000
real estate_______
North Western Railway Co., 52 Wall St., New York.— V .
R aw m aterial______ 229,026
220,055 D ebs, convt. into
pref. stock------------ 126,200
113,200 84, p. 50.
G oods in process of
m anufacture.......... 418,074
271,577 Debs, convt. into
G oods c o m p le t e d ...1,294.021 1,210,9151 com . s t o c k ............. 395,968
Chicago Rock Island & Pacific Railway Co.— Application
O therassets________
______
24.877 j Coup, notes convert.
A c c ’ ts & bills recolv. 1.027,980
808.3341 into pref. s t o c k .. . 183,300
284.900 to L ist.— The New York Stock Exchange has been requested
C a sh ________________TJ22S.612
352,704 Current a cc’ ts. accrd.
to list $10,000,000 additional first refunding mortgage 4 %
630,71b
int. and taxes not
Stocks other co ’s ____ a 094,740
bonds of 1934, making the total listed $54,342,000. See V .
y e t due, and bills
p a y a b le .................. 898,306
868,826
84, p. 101.
Reserved for depre­
ciation, <Stc------------ 110,636
188,216
Surplus.........................1.221,514 1,027,752

P5
T o t a l .......................7,629,004 6,432,786
— V.!82, p. 282.

T o t a l .......................7,629.004 6,432,786

GENERAL INVESTM ENT N EW S.
RAILROADS, INCLUDING STREET ROADS.
Bangor & Aroostook R R .— Construction of Extension In­
definite.— Referring to the authority recently obtained from
the State Railroad Commission of Maine, to build a 145-mile
extension from Seboeis northerly to the St. John River at
or’near Connors, President F. W . Cram writes:
It is e x p e c te d t h a t p r a c tic a lly a ll o f th e o p e n season o f 1907 w ill b e r e ­
q u ire d fo r e x p lo r a t io n , su rv e y s a n d estim a te s.
N o th in g ca n n o w b e said
a b o u t fin a n cin g . T h e ro u te c o v e r e d b y th e ch a rte r is all th ro u g h tim b e r
w ith o u t e v e n a ca rria g e r o a d .
I t Is, I th in k , t o b e a ssu m ed th a t co n s tr u c ­
tio n p rogress w ill d e p e n d la rg e ly u p o n th e aid o f th o se w h o se la n d s are t o
b o a p p re cia te d In v a lu e , a n d u p o n th e a ssu ran ces o f m a n u fa ctu rin g d e v e l­
op m en t u pon adven t o f th e road.
T h e re a rc n o a llia n ces w ith a n y o th e r ra ilro a d c o m p a n y o r co m p a n ie s,
a n d n o n e h a v e b e e n e v e n d is cu s s e d .— V . 8 4 , p . 50.

Bay of Quinte Railway.— Called Bonds.— Fifty bonds se­
cured by mortgage dated Jan. 2 1902 have been called for
redemption at 105 and interest on Feb. 20 at the Bank of
Montreal in Toronto or at its agency in New York, at hold­
ers’ option. See V. 74, p. 150.
Buffalo & Lake Erie Traction Co.— Final Merger Com­
pleted.— This new company, recently formed by consolida­
tion of the Buffalo Dunkirk & Western R R ., the Lake Erie
Electric Traction Co. and the Dunkirk & Fredonia R R .,
on Dec. 24 consolidated with the Hamburg Ry. (V. 83,
p. 1524), and on Dec. 29 again consolidated with the Erie




Cleveland Electric R y.— Negotiations for Settlement.— On
Jan. 11 President Andrews and the Municipal Traction Co.,
with the approval of the City Council, agreed to an “ oper­
ating armistice” to continue for 30 days.
D u r in g th is tim e th e F o r e s t C ity R y . is t o d o n o fu r th e r w o r k in e x t e n d in g
its s y s te m a n d is n o t t o Interfere w ith t h e o p e r a tio n o f t h e C le v e la n d E le c t r ic
lin es east o f t h e P u b lic S q u a r e , o r o n E rie S tr e e t, C e n tra l A v e n u e a n d
Q u in cy S tr e e t. See V . 8 4 , p . 101 . M e a n tim e , a ls o , t h e in ju n c tio n g r a n te d
b y J u d g e P h illip s p r e v e n tin g th e M u n icip a l T r a c t io n C o . fro m o p e r a tin g
Its cars o v e r th e C le v e la n d E le c t r ic tr a c k s fro m F u lt o n R o a d t o a n d a r o u n d
t h e P u b lic S q u a re Is t o b e s u s p e n d e d . C o m p a re V . 8 3 , p . 1 4 6 9 .
B oth
sides h a v e u n ite d in a sta te m e n t th a t it is h o p e d t o re a c h “ a g e n e ra l a g r e e ­
m e n t w h ic h shall s e ttle t h e e n tire stre e t r a ilw a y q u e s tio n o n te rm s w h ic h
shall b e s a tis fa c to r y t o t h e p u b lic an d a ll o th e r in te r e s ts .”
M a y o r J o h n so n
fa v o r s th e lease o f th e C le v e la n d E le c tr ic lin es b y a h o ld in g c o m p a n y a t a
r e n ta l o f 6 % o n th e s t o c k , th e la tte r t o b e re -a d ju s te d In a c c o r d a n c e w it h
a n a p p ra ise d v a lu a tio n o f th e p h y s ic a l p r o p e r tie s a n d th e u n e x p ir e d fra n ­
c h ise s, th e fares t o b e fix e d a t 3 c e n ts , w ith a p r o v is o t h a t in t h e e v e n t
o f d e fa u lt in th e re n ta l th e C le v e la n d E le c t r ic R y . is t o b e e n title d t o a
r e n e w a l o f th e fra n ch ise s s o u g h t b y it w it h o u t b e in g c o m m it t e d t o a 3 -c e n t
fa r e . T h e M u n icip a l T r a c t io n C o . has m a d e a fo rm a l o ffe r t o th e C ity
C o u n c il t o o p e r a te t h e C le v e la n d E le c t r ic lin es o n s u b s ta n tia lly t h e lin es
s ta te d b y M a y o r J o h n s o n .— V . 8 4 , p . 10 1 .

Cleveland & Southwestern Traction Co.— Report.— For
calendar year 1906:
Y ea r—
G ross.
§ 6 4 5 .8 5 0
1 9 0 6 ....................
1 9 0 5 ________________ 5 4 3 ,2 2 7
— V . 8 3 , p . 1 2 2 8 , 103 7.

N et.
§ 2 8 1 ,9 9 3
2 2 8 ,9 7 3

I n t. & T a x es .
§ 1 7 9 ,2 5 2
1 5 2 ,6 9 3

B a l., S u r.
§ 1 0 2 ,7 4 2
7 6 ,2 8 0

Columbus (O.) Railway & Light Co.— Bonds of Subsidiary.
— At the annual meeting of the Columbus Ry. on Jan. 10, the
stockholders, it is stated, authorized the mortgage trustee
to turn over $165,000 bonds to the Columbus Railway &
Light Co. as per terms of lease.— V. 84, p. 51.
Dallas (Tex.) Consolidated Electric Street R y .— Proposed
M erger.— This company announces by advertisement its in­
tention to apply to the Thirtieth Legislature of Texas for a

158

THE CHRONICLE.

special law authorizing it to consolidate with the Rapid
Transit Railway Co. and the Metropolitan Street Ry. Co.,
and permitting it to purchase the properties, stocks, rights,
privileges and franchises of said companies.— V. 75, p. 793.
Dallas (Tex.) Electric Corporation.— M erger of Subsid­
iaries.— See Dallas Consolidated Electric Street Ry. above.—
V. 83, p. 323.
Delaware & Hudson Co.— New Equipm ent.— The technical
papers announce that this company has within the past three
or four weeks placed orders for a large number of steel under­
frame cars, viz., 1,500 box cars, 1,500 hopper cars, 1,000 flat
cars, also for its new subsidiary, the Quebec Montreal &
Southern, 1,400 box cars and 100 stock cars.— V. 84, p. 51.
Duluth Rainy Lake & Winnipeg Ry. — Bonds Offered.—
Eversz & Co., Chicago, -and 37 Pine St., New York, are
offering $200,000 first mortgage 5 % gold bonds, dated
Jan. 1 1908, due Jan. 1 1916, but subject to call at 105 and
interest on Jan. 1 1911 or any subsequent interest date prior
to maturity. Interest payable Jan. 1 and July 1 at the
Chase National Bank, New York, or at office of trustee,
Illinois Trust & Savings Bank, Chicago. The above bonds
are the unsold portion of a total authorized issue, now all
outstanding, of S2,000,000, which are a first and only lien
at $20,000 per mile of main line mileage, “ against an actual
cash cost of over $30,000 per mile.” A circular says:
T h e c o m p a n y , u p o n th e c o m p le t io n o f Its e x te n s io n , s h o r tly a fte r Ja n . 1
1907 w ill o w n a n d o p e r a te 100 m iles o f m a in lin e a n d 60 m iles o f b ra n ch e s ,
spurs a n d sid in gs, w ith a m p le term in a ls a n d e q u ip m e n t, torm ina: w ith c o n ­
n e c tio n s th e sh ortest r o u te b e tw e e n D u lu th a n d W in n ip e g — s h o rte r th a n
a n y n o w e x istin g b y n e a rly 80 m iles. T h e r o a d e x te n d s fr o m V irg in ia ,
M in n ., n orth w est t o th e C a n adian b o u n d a r y a t R a in ie r , w h e re it c o n n e c t s
w ith th e m a in line o f th e C a n adian N o rth e rn R y .
A t th e s o u th e rn te rm in u s
It c o n n e c ts w ith th e D u lu th M issabe & N o rth e r n a n d D u lu th & I r o n R a n g e
railroad s.
T h e ro a d runs th r o u g h t h e largest b o d y o f sta n d in g w h ite pin e p r o b a b ly
In ex is te n ce in th e U n ited S ta te s , a m o u n tin g t o a b o u t 3 ,0 0 0 ,0 0 0 ,0 0 0 fe e t.
T h is tim b er is bein g c u t a n d m a n u fa ctu re d in to lu m b e r o n a larg e s c a le ,
req u irin g tr a n sp o r ta tio n .
It is e x p e c t e d th a t th e re also w ill b e a large
m o v e m e n t o f g rain fro m C a nada t o D u lu th o v e r th is r o a d , fo r E u ro p e a n
e x p o r t , a n d a con s id era b le m o v e m e n t o f c o a l a n d m e rch a n d is e fr o m D u lu th
t o W in n ip eg an d th e su rro u n d in g c o u n t r y .
W e b e lie v e t h a t th e p r o p e r t y
w ill earn m a n y tim es th e ftx ed ch a rg e s.
T h e earn in gs fo r th e e le v e n m o n th s e n d in g N o v . 30 1 90 6, w ith o n ly 38
m iles o f m ain line in fu ll o p e r a tio n , w e re as fo llo w s :
11 m os.
G ross.
N et.
B on d Int.
B a l . ,s u r .
1 9 0 5 -0 6 ........ ...................$310,111
$ 1 2 8,38 4
$ 5 5 ,0 0 0
$ 7 3 ,3 8 4
1 9 0 4 -0 5 _______________ 183,880
7 2 ,493
4 1 ,2 5 0
3 1 ,2 4 3
F o r th e sin kin g fu n d tw o -th ird s o f n et earnings m u st b e set a sid e a n n u a lly
a fte r J u ly 1 1909 fo r th e p u rch a se o f b on d s In th e o p e n m a rk e t o r th eir re ­
d e m p tio n a t th e call p rice , 105 a n d in terest, a fte r J u ly 1 1911.
In terest o n th e b on d s is g u a ra n teed (an d it is u n d e rs to o d th e en tire
ca p ita l s to c k is o w n e d .— E d .) b y th e V irg in ia & R a in y L a k e C o ., o n e o f th a
largest an d m ost p ro fita b le co rp o ra tio n s in M in n esota .
P a id -u p c a o lta ),
$ 3 ,0 0 0 ,0 0 0 .
N et assets o v e r a n d a b o v e lia b ilities, n ea rly $ 1 0 ,0 0 0 ,0 0 0 .
— V . 83, p . 323.

[YO L. LXXX1V.

new line, it is understood, has been completed from Fort
Dodge Junction to Harcourt, Iowa, 2 % miles, and from Des.
Moines Junction to Des Moines, 21 miles, and is being ex­
tended from Harcourt to Fort Dodge, 21 miles, and from
Kelley to Ames, 7 miles. J. G. White & Co. have the entire
contract for electrical equipment, including power-houses.
Mortgage.— The capital stock was increased last spring to
$1,000,000 and a mortgage was made July 3 1908 (bat for
purposes of reference in the bonds dated April 2 1906) to
the Old Colony Trust Co. of Boston, trustee, to secure an
issue of first mortgage 4J^% gold bonds of $1,000 each,
dated April 2 1908.
T h ese b o n d s w ill m a tu re A p ril 1 1931, b u t a re s u b je c t t o ca ll as a n e n tire
issu e o n a n y in terest d a te a t 105 a n d in terest.
In terest p a y a b le O c t. 1 a n d
A p ril 1 . T h e b on d s are issu a b le as fo llo w s :
Im m e d ia te ly , o r fro m tim e t o tim e , u p o n re ce ip t o f ce rtifie d reso­
lu tion s o f th e b oa rd o f d irectors ca llin g fo r s a m e ________________ $ 2 ,1 5 0 ,0 0 0
F r o m tim e t o tim e fo r a d d itio n a l term in a ls u p o n sim ilar ord e r
an d u n d e r o th e r re s tric tio n s _______________________________________
3 0 0 ,0 0 0
F o r c o a l lan d s o r p ro p e rtie s, o r s t o c k in co r p o r a tio n s o w n in g th e
s a m e , u n d e r re strictio n s s ta te d in t h e m o r tg a g e ________________
7 5 0 ,0 0 0
F o r th e a cq u is itio n o r co n s tr u c tio n , e q u ip m e n t o r im p ro v e m e n t
o f e x te n sio n s o f o r a d d itio n s t o th e s y s te m , in a c c o r d a n c e w ith
th e p ro v is io n s o f th e m o r tg a g e , b u t t o a n a m o u n t n o t e x c e e d ­
in g $25 ,0 0 0 p e r m ile o f s u ch n ew lin e an d e x t e n s io n _______$ 25 ,0 0 0 p er m .
T h e c o m p a n y a c q u ir e d th e F o r t D o d g e S treet R y . a n d th e A m e s & C o lle g e
R y . fro m th e N o rth w e s te rn C o n s tru ctio n C o ., w h ic h in tu r n a c q u ir e d th e
fo rm e r fro m th e F o r t D o d g e L ig h t & P o w e r C o. b y d e e d d a te d F e b . 16 190 6.

The President, Homer Loring, is, also President of the
Newton & North Western RR. Frederick A. Farrar of
Boston, Vice-President and Treasurer of the last-named
company, is a member of the firm of H. W . Poor & Co.
Frontier Electric R y., Buffalo, N. Y .— New Subsidiary for
International Traction C o.— This company, incorporated at
Albany last August, was on Dec. 26 authorized by the State
Railroad Commission to increase its capital stock from $300,000 to $1,500,000 and to make a mortgage to secure $2,000,000 bonds. The company is a subsidiary of the International
Railway Co., which is controlled by the International Trac­
tion Co. of Buffalo.
Henry J. Pierce, Ellicott Square, President of International
Ry. Co., was recently quoted as saying:
T h e F r o n tie r E le c tr ic R a ilw a y C o. has b e e n o rg a n iz e d as a su b sid ia r y
c o m p a n y o f th e I n te rn a tio n a l R a ilw a y C o ., w h ic h w ill o w n all o f Its s t o c k .
T h e n ew c o m p a n y w ill c o n s tr u c t a m o d e r n h ig h -s p e e d , d o u b le -tra ck
e le ctr ic r a ilw a y , m a in ly o n its o w n r ig h t -o f-w a y , fro m B u ffa lo t o th e en ­
tr a n c e o f th e n ew b rid g e , fo r w h ic h ch a rters h a v e a lr e a d y be e n o b ta in e d
fro m th e S ta te o f N e w Y o r k a n d th e D o m in io n o f C a n a d a , a n d w h ic h w ill
b e b u ilt o v e r th e N iag ara R iv e r , th e A m e r ic a n a p p r o a c h o f w h ic h w ill be
a t th e fo o t o f N iag ara S t. in N iag ara F a lls, N . Y .
It is p r o p o s e d t o d o u b le ­
tr a c k th e e x is tin g lin e b e tw e e n L o c k p o r t a n d T o n a w a n d a , n o t o n ly t o t a k e
ca re o f th e e v e r-in cre a sin g t r a ffic fr o m L o c k p o r t t o B u ffa lo a n d N iag ara
F a lls, b u t also t o p r o v id e fo r th e v e r y la rge in crea se in t r a ffic w h ic h w ill
im m e d ia te ly fo llo w th e c o m p le t io n o f th e e le ctr ic r a ilw a y n o w b e in g c o n ­
s tru cte d b e tw e e n R o c h e s te r , B r o c k p o r t , M e d in a , A lb io n , M id d le p o rt a n d
L ock p ort.
T h e new ra ilw a y c o m p a n y w ill a ls o m a k e c o n n e c t io n a t th e n ew b r id g e
a t N iag ara F a lls w ith t h e fast e le ctr ic r a ilro a d o w n e d b y th e M a ck en z ieM a n n -N ich o lls s y n d ic a te r u n n in g fro m T o r o n t o th r o u g h H a m ilto n t o N ia g ­
ara F a lls, th e r ig h ts -o f-w a y fo r w h ic h h a v e be e n a c q u ir e d a n d th e c o n t r a c ts
fo r th e c o n s tr u c tio n o f w h ich are n o w a b o u t t o 'b e le t.
U p o n th e c o m p le t io n
o f th e n ew lin e b e tw e e n B u ffa lo a n d N iag ara F a lls , th e In te r n a tio n a l s y ste m
w ill h a ve th e o n ly fo u r -tr a c k In teru rban e le ctr ic ra ilw a y in th e w o r ld .
It
w ill o n ly be' a m a tte r o f m o n th s w h e n passengers fr o m T o r o n t o a n d H a m il­
t o n an d fro m D u n k irk a n d E rie w ill b e b r o u g h t w it h o u t c h a n g e o f cars
in to th e heart o f th e c it y o f B u ffa lo .

Erie R R .— Dissolution of Syndicate.— The syndicate that
underwrote the convertible bond issue of $12,000,000
(V. 81, p. 1100, 1610) has been dissolved, some three-fourths
of the bonds, it is said, remaining on hand for distribution.
New Equipment.— This company is reported to have placed
an order for 2,000 gondola cars with the Standard Steel
Car Co. and 1,000 gondola cars with the Pressed Steel Car
The Trans-Niagara Bridge Co. was incorporated at Albany
Co. This company has also just issued specifications for
early last year with $1,000,000 authorized capital stock, to
3,000 box cars.
Notes Issued.— The amount of short-term notes recently construct the aforesaid bridge across the river at Niagara
placed by the company, it is understood, is about $5,000,000. Falls, 300 feet below the present upper steel arch bridge.
The bridge, it.is said, will cost about $S00,000.
Compare V. 84, p. 102.
George’s Creek & Cumberland R R .— Sold.— See Western
Erie (Pa.) Rapid Transit Co.— Merged.— See Buffalo &
Maryland RR. below.
Lake Erie Traction Co., above.— V. 83, p. 323, 37.
Great Northern R y.— Again Postponed.— In the absence of
Evansville Princeton & Vincennes Interurban R y.—
M erged.— See Evansville & Southern Indiana Traction Co. a decision in the Minnesota injunction case, the company
has again postponed the closing of the transfer books for the
below.— V. 83, p. 94.
Evansville & Southern Indiana Traction Co.— M erger.— purposes of the new issue of stock and the time limit for the
This company, recently incorporated with $4,500,000 capital filing of subscriptions, this time until 3 p. m ., Jan. 26. The
stock, has taken over the property of the Evansville Prince­ time for filing assignments has been postponed until 3 p .m .,
ton & Vincennes Interurban Ry. (V. 83, p. 94), giving in Jan. 29, and the time for making the first payment has been
Compare V.. 83, p. 1469, 1590;
consideration, it is said, $600,000 common stock and $400,- postponed until Feb. 1.
000 bonds. The Evansville Electric Railway was also ac­ V. 84, p. 51, 102.
Hamburg Ry., Erie County, N. Y .— Merged.— See Buffalo
quired. Those interested in the new company are said to in­
clude the following, some of whom are identified with the & Lake Erie Traction Co. above.— V. 83, p. 1524.
trolley operations of the United Gas Improvement Co. (com­
International Traction Co., Buffalo, &c.— New Subsidiary.
pare Northern Indiana Ry. below):
— See Frontier Electric Ry. above.— V. 83, p. 1470.
H u g h J . M cG o w a n , Jam es a n d Ch arles M u rd o ck a n d H e n ry M a rsh all, o f
Kansas City-Olathe Electric RR.— Sold.— This property
L a fa y e tte ; H . B . S m ith , H a r tfo r d C ity ; L . G . N e e ly , L im a , O .; F o rm e r
G o v e rn o r W . T . D u rb in , R o b e rt I. T o d d , V ic e -P r e s id e n t an d G eneral
was sold at Kansas City, Kan., on Dec. 17 by order of the
M an ager o f th e In d ia n a p o lis T r a c tio n & T e rm in a l C o .; T . S . K ru tz a n d
Federal Court and was bid in by J. A. Stewart, of Kansas
J. W . V a n D yke.
Evansville Elect. R y.— M erged.— See Evansville & South­ City, for $21,250. The “ Kansas City Star” says (compare
Missouri & Kansas Interurban Ry. below):
ern Indiana Traction Co. above.— V. 83, p. 94.
T h e r o a d wras p r o je c t e d t o ru n a lo n g th e T u r k e y C reek V a lle y t o O la th e

Fitchburg R R .— Sale of Bonds.— The company has sold K a n . T h e B r a c ie -H o w a r d C o n s tru ctio n C o. h ad b u ilt 5 m iles o f th e r o a d .
is n o t th e lin e p r o je c t e d b y W . B . S tra n g a n d his a s s o c ia te s .—
to Moffat & White of New York an issue of $2,000,000 of 4 % TVh. is7 9r,o ap.d 681.
20-year bonds, dated April 1 1907, of which $1,500,000 to re­
Lake Shore Electric Ry., Cleveland.— Report.— For calen­
fund an equal amount of 4 % bonds that mature on April 1
dar year 1906:
of this year, and the remaining $500,000 to reimburse the Y ea r—
G ross.
JVe«.
B o n d In t.
B a l . ,S u r .
$38 4 ,4 6 2
$ 2 4 4 ,8 5 3
$13 9,60 9
Boston & Maine for expenditures upon the property. The 1 9 0 6 ........ ................... .$ 8 6 0 ,7 2 0
1 9 0 5 .........................
7 8 8 ,2 6 8
3 5 9 ,6 8 0
2 4 4 ,8 5 0
114,830
road is leased to the Boston & Maine RR. at a rental equal —
V . 8 4 , p . 51.
to 5 % on its $17,360,000 preferred stock and 1 % on the
Lake Tahoe Railway & Transportation Co.— Listed in San
common stock.— V. 83, p. 751.
Francisco.— The Stock and Bond Exchange of San Farncisco
Forest City Ry., Cleveland.— Probable Settlement.— See on Dec. 13 listed this company’s outstanding $300,000 5 %
Cleveland Electric Ry. above.— V. 84, p. 102.
gold bonds due Oct. 1 1931; total authorized issue $500,000.
Fort Dodge Des Moines & Southern R y.— Construction,&c. The earnings for “ the past year” are reported as follows:
— This company, which owns the street railways in Fort Gross, $184,996; net, $61,611; interest on bonds, $15,000;
Dodge and Ames, Iowa, and is constructing an interurban balance surplus, $46,611.— V. 74, p. 478.
electric line between Fort Dodge and Des Moines, with a
Lehigh Valley R R .— Status as to Dividend.— At the annual
branch to Ames, has recently secured trackage rights over meeting on Jan. 15, President E. B. Thomas said:
the 40 miles of Newton & North Western between Gowrie
A t a tim e w h e n th e re is s o m u c h u n c e r ta in ty as t o th e fu tu re c o s t o f o p e r a ­
nd Kelley, and has electrified that part of the system. The t io n a n d th e e ffe c t o n t h e c o m p a n y o f re ce n t la w s , y o u r b o a r d b e lie v e s a




J a n . !9 1907.]

THE CHRONICLE.

c o n s e r v a t iv e p o lic y In tlie m a tte r o f d iv id e n d s is t o th e b e st Interests o f th e
s to c k h o ld e r s . T h e la b o r s itu a tio n Is u n se ttle d .
H eavy dem ands have
be e n m a d e o n th e c o m p a n y fo r s h orter hou rs an d in crea sed w ages b eca u se
•of th e in crea sed c o s t o f liv in g an d higher rates o f w ages p a id b y o th e rs ,
m a n y o f w h ich h a v e been g ra n te d w h ere a fair an d im p a rtia l re v ie w o f th e
s itu a t io n In d ica ted th e n ecessity fo r so d o in g . T h is w ill h a v e its e ffe ct in
te n d in g t o in crea se th e fu tu re e x p e n s e o f o p e r a tio n . T h e sh o rta g e o f fre ig h t
eq u ip m e n t cars, w h ic h Is e v e ry w h e re en grossin g th e a t t e n t io n o f b o t h ra il­
ro a d o ffic ia ls and th e gen eral p u b lic , is o n e th a t m u st b e d e a lt w ith b r o a d ly
in ord er t o c a r r y o n th e co n tin u e d p r o s p e r ity o f th e c o u n t r y .
lt m ust be b o r n e In m in d th a t th e business o f p r o d u c in g a n th ra cite c o a l
is n ot a lon e a m in in g p r o p o s itio n , b u t a m a n u fa ctu rin g a n d c o m m e r c ia l u n ­
d e rta k in g as w ell. T h e c o m b h ie d gross business o f th e r a ilro a d a n d c o a l
c o m p a n ie s is o v e r $05 ,0 0 0 ,0 0 0 per a n n u m , an d t o p r o v id e a m p le w o r k in g
c a p it a l, as w ell as t o m eet ex p e n d itu re s fo r cu rren t im p ro v e m e n ts as t h e y
b e c o m e d u e , it is n ecessary to’ h a ve a m p le cash ba la n ce s c o n s ta n tly at th e
c o m p a n y ’s d isp osa l, ev en th ou g h tlie c o s t o f su ch w o r k Is not in c lu d e d in
•operating e x p en ses, b u t is u ltim a te ly ch a rg e d t o c a p ita l a c c o u n t a n d p r o ­
v id e d fo r b y th e issue o f securities.

ATot to Be Listed in New Y ork.— The proposition to list the
stock on the New York Stock Exchange was on Jan. 16 voted
down by the stockholders, the vote being: For, 78,458; against
526,934.— V. 84, p. 102.
Missouri Pacific R y.— Suit.— Attorney-General Hadley of
Missouri on Jan. 9 b^gan an action in the Supreme Court of
Missouri to dissolve the alleged illegal merger of the Missouri
PacJic ,Iron Mountain and Wabash railroads and the Pacific
Express Co. and revoke the charters of the Pacific Express
Co., American Refrigerator Transit Co., Western Coal &
Mining Co., Richhill Coal Mining Co. and Kansas-Missouri
Elevator Co. Chief Justice Gantt issued quo warranto
writs returnable Jan. 23.
T h e p e titio n alleges th a t all o f th e p ro p e rtie s n a m e d are e o n tr o ’. ls d b y
th e sam e interests a n d th a t su ch c o m m o n o w n ersh ip an d th e Interest o f th e
ra ilroa d s in th e o th e r p rop ertie s n a m e d is c o n tr a r y t o th e law s o f M issouri;
a ls o th at th e W a b a sh an d M issouri P a cific are parallel an d c o -n p e tin g lin es
b e tw e e n S t.L o u is an d K an sas C ity , an d m u ch o f th e in te rm e d ia te t e r r it o r y ,
a n d , as s u ch , c o n tr o l o f on e b y the o th e r o r in its interest is fo r b id d e n b y
th e M issouri sta tu tes. — V. 8 3 , 'p . 1348.

New London & East Lyme Street R y.— Increase of Stock,
E tc.— This company announces its intention to apply to
the Connecticut Legislature for authority to extend its line
from Niantic to the Connecticut River, and to increase its
capital stock to an amount not exceeding $500,000; also to
extend feed wires under the Connecticut River westerly to
connect with the Shore Line Electric R y .— V. 81, p. 1376.
Newton & Northwestern R R .— Portion of Road Used by
Trolley Com pany.— This company, while still operating with
steam its 102 miles of road between Newton and Rockwell
City, Iowa, has given trackage rights to the Fort Dodge
Des Moines & Southern RR. over 40 miles of the line, and
that company has equipped the same for electric operation,
the two properties, however, being operated independently.
Sec Fort Dodge Des Moines & Southern Ry. above.— V. 82,
p. 335.
New York Central & Hudson River R R .— Favorable Deci­
sion in Harlem Su it.— The Court of Appeals on Tuesday af­
firmed the decision of the lower courts, which upheld the ac­
tion of ex-Chief Judge Charles Andrews of the Court of Ap­
peals, acting as referee, in dismissing the action brought by
the Continental Insurance Co. and others to set aside the
compromise agreement allowing the New York Central
$220,000 of the annual saving through the refunding of
$12,000,000 of Harlem 7 % bonds. See editorial, V. 78, p.
2305; V. 78, p. 2335; V. 76, p. 1144.— V. 84, p. 52.
New York Chicago & St. Louis R R .— Report.— See “ An­
nual Reports” on a preceding page.
Increase in Second Preferred Dividend.— The directors on
Wednesday declared an annual dividend of 4 % on the
311,000,000 second preferred stock, payable, with the usual
annual dividend of 5 % on the first preferred, on March 1
to stockholders of record Feb. 1.
A n n u a l D ivid en d s (paid in M a rch ) , P e r C e n t.
D iv id e n d s —
’ 93. ’ 94. ’ 95. ’ 96. ’ 97. ’ 88. ’ 99. ’ 00. ’ 0 1 . ’ 02 t o ’0 6 . ’ 07.
1st p f. ($ 5 ,0 0 0 ,0 0 0 ) 3
4
0
5
0
2
0
5
5
5 y e a r ly .
5
2 d p r . ( $ l l , 0 00 .000 ) . .
..
..
..
.......................
2
3 y e a r ly . 4

The Lake Shore & Michigan Southern owns $6,275,000 of
the second preferred.— V. 84, p. 52.
New York & Harlem R R .— D ecisions.— See New York Cen­
tral & Hudson River RR. above.— V. 80, p. 1424.
New York New Haven & Hartford RR.— A tw Stock.— It is
currently reported, on apparent authority, though not
officially confirmed, that the directors on Jan. 12 voted to
offer to' the stockholders “ later in the spring” the right to
subscribe at $150 a share (par $100) for additional stock to
the extent of one share for every four shares of their re­
spective holdings.
A s s ta ted last w eek th e h old ers o f 3 H % c o n v e r tib le d e b e n tu re s o f 1906
(If full p aid) w ill be p e r m itte d t o s u b s crib e fo r fu tu re s to c k Issues o n th e
basis th a t $150 In d eb en tu res is e q u iv a le n t t o o n e share o f s to c k .
A t last
a c c o u n t s (June 30 100!>) o n ly $ 9 ,8 1 4 ,5 0 0 o f th e $?;0,000,000 c o n v e r t ib le
d e b e n tu re 3 Ws w ere fu ll p a id , an d th e final p a y m e n t o f 2 5 % each o n s u b ­
s c r ip tio n s th e r e to w ere not d u e until J u ly 1 1007 and A pril 1 1908 r e sp e c­
t iv e ly .
T h e a m o u n t o f ca n lta l s to c k liste d o n th e N ew Y o r k S to c k E x ­
c h a n g e is $ 8 4 ,4 1 2 ,1 0 0 , b u t fu rth e r a m o u n ts u p t o a to t a l o f $ 9 5 ,8 1 4 ,5 0 0 are
a u th o r iz e d t o b e listed w h en Issued In e x c h a n g e fo r d e b e n tu re b o n d s o f th e
C o n s o lid a te d R y . a n d for o th e r p u r w ses. T h e in tim a tio n o f "righ ts”
w o u ld n a tu ra llv serve t o hasten th e p a y m e n ts In fu ll o f s u b scrip tio n s t o th e
c o n v e r t ib le 3 K b (see V . 81. p . 1493) a n d a ls o th e e x c h a n g e o f C o n so lid a te d
R y . d eb en tu res fo r s to c k (V . 83, p . 147 1).
W e re b o t h th ese o p e ra tio n s
c o m p le t e d , t he a m o u n t o f th e new s to c k Issue n o w sp o k e n o f w o u ld b e
a p p r o x im a t e ly $ 3 0 ,0 0 0 ,0 0 0 , y ie ld in g th e c o m p a n y a b o u t $ 4 5 ,0 0 0 ,0 0 0 .

Notes.— The proceeds of the last issue of notes (V. 84,
p. 103), it is said, will be used for new equipment. The re­
port that the note issues of the last two months aggregate
$25,000,000 or $30,000,000 is not confirmed. We have full
details of issues aggregating $23,000,000 and additional
amounts are apparently outstanding, but the exact sum is
withheld (V. 84, p. 103).




159

New Director.— James McCrea, the new President of the
Pennsylvania R R ., has been elected a director to succeed
the late A . J. Cassatt.— V. 84, p. 103.
Norfolk & Southern R R .— R eport.— For fiscal year ending
June 30 1906 (old company):
Y ea r— G ross.
N et.
Other I n c . Charges.
$ 2 5 1,56 4
$5,2 2 0
$223,071
1 9 0 5 -0 8 ____ $ 1 ,1 4 8 ,0 2 2
1 9 0 4 -0 5 ____ 1 ,0 0 2 ,1 5 8
177 ,788
8,731
169,419
— V . 8 3 , p . 1171, 1348.

D ivid en d s. B a la n ce.
_______ SU1$33,713
$20 ,000 d e f 2,900

Northern Indiana R y., South Bend, Ind., &c.— Control of
this road, it is reported, has been acquired by the Dietrich
syndicate of New York, the Murdocks of Lafayette, Ind.,
and Hugh McGowan of Indianapolis, in the interest, it is
supposed, of the consolidation of Indiana roads by the United
Gas Improvement Co. Compare V. 82, p. 568.
Nortiern acific Terminal Co.— Called Bonds.— Thirty-cne
(Sol,G0J) first mortgage bonds of 1883 have been drawn and
will be r ;de( med by the Farmers’ Loan & Trust Co. on Feb. 4
1907 at 110 nd accrued interest.— V. 83, p. 156.
Fennsyivan a R R .— Application to L ist.— The New York
Stock Exchange has been requested to list $4,485,200 addi­
tional capital stock as issued from time to time in exchange
for Philadelphia & Erie common stock. Compare V. 84,
p. 103.
Peoria & Pek n Terminal R y.— Sale Feb. 9.— This com­
pany’s property is advertised to be sold at Peoria, 111., on
Feb. 9 under foreclosure of the mortgages of 1900 and 1905,
Dime Savings Bank & Trust Co., trustee. Upset price,
$600,000,
Reorganization.— The “ Boston News Bureau” understands
that in the reorganization the old bondholders will receive
new securities guaranteed by the Chicago & Alton and
Rock Island jointly. Compare V. 83, p. 752, 1171, 1291;
V. 84, p. 103.
Philadelphia & Erie R R .— Exchange of M inority Stock.—
See Pennsylvania RR. below and compare Y . 84, p. 103.
Southern Railway.— Official Statement as to Status and
Needs of P roperty.— Under date of Jan. 16 President W . W .
Finley has addressed a long letter to the public referring to
the great increase of recent years in the amount of the com­
pany’s traffic and the difficulties which the management
has had, and is still having, in providing adequate facilities
to handle it in spite of the large sums expended and now
being expended for improvements, additions and new equip­
ment. The conditions described are quite fully dealt with
in an editorial on a preceding page.
Mr. Finley says in part:
I t m u st b e re m e m b e re d th a t this c o m p a n y has n o t b e e n In e x is te n ce
m o re th a n a b o u t 12 years.
It fo u n d th ose ra ilroad s o f th e S o u t h , n o w c o n ­
stitu tin g a p a r t o f its s y s te m , o f lig h t an d fa u lty c o n s tr u c tio n , a n d p o o r ly
e q u ip p e d .
T h e c o m p a n y a t o n c e a d o p te d a p o lic y o f b e tte r m e n t a n d im ­
p r o v e m e n t, as w ill a p p e a r fro m th e fo llo w in g sta te m e n t:
It has sp en t—
In n e w , a p p r o v e d an d h e a vie r ra il_________________________________ $ 1 0 ,8 8 0 ,0 0 0
In d o u b le -tra ck in g , r e d u cin g grades a n d ch a n g in g a lig n m e n t___
6,9 4 2 ,6 3 1
In new steel brid ges fo r h e a v ie r p o w e r ____________ _______ _______
2 ,5 7 8 ,5 4 0
In b ra n ch e s an d spurs t o in d u s trie s ________________________________
2 ,3 6 3 ,2 8 8
In sid e , p assin g an d co m m e rcia l tr a c k s ____________________________
3 ,1 4 8 ,S 0 6
In sh o p s, to o ls a n d m a ch in e ry ______________________________________
2 ,0 4 1 ,1 4 8
In a d d itio n s an d Im p rov em en ts to y a r d s , real esta te , r o a d w a y
an d stru ctu res, an d o th e r Im p rov em en ts a n d a d d it io n s _______
8 ,2 2 9 ,6 0 5
It
F or
For
F or
F or

O r a to ta l o f _____________________ ___________________ _ _ ______ .$ 3 6 ,1 8 4 ,0 1 8
has sp en t, or contracted to s p c n i —
n ew e q u ip m e n t _____________________________________ __________ .$ 4 9 ,3 2 2 ,5 6 9
jo in t t(r-n ln a ls c o m p le te d (its p r o p o r t io n ) ___________________
3 ,4 0 8 ,1 8 8
t o r m ln a ls _______________________________________ ______ ____ _
823 ,401
d o u b le -t r a c k in g ________________________ ___________ _____________
6 ,7 4 4 ,7 6 9

M ak in g a to ta l o f w o rk d o n e a n d c o n t r a c te d fo r t o p re p a re
t o h a n d le th e t r a ff ic __________________________________________ $96 ,4 8 2 ,9 4 5
T h e c o m p a n y has in crea sed its r o llin g s to c k r e c e iv e d a n d c o n t r a c te d fo r
as fo llo w s:
L o com otives.
F reig h t-tra in C a rs.
P a ssen g er-tra ln C ars.
F ro m 623 t o 1,544
F r o m 18,924 t o 58,491
F ro m 487 to 1,008
T h e a v e ra g e c a p a c ity o f th e fre ig h t cars has also be e n in cre a se d 2 8 .3 8 % .
A fair co n s id e r a tio n o f these ligures w ill d e m o n s tr a te th e fa c t th a t th e
m a n a g e m e n t has not be e n u n m in d fu l o f its o b lig a tio n t o Increase its fa c ilitie s
in a n tic ip a tio n o f th e Increase in tr a ffic .
N eed o f F resh C a pital.
T h e c o m p a n y has b e e n , and still Is, h a m p e r e d , h o w e v e r , b y t w o c o n d i­
tion s:
O ne is th e larg e a m o u n t o f fresh ca p ita l r e q u ir e d , an d th e o th er
th e d iffic u lt y o f s ecu rin g a d e q u a te and e ffic ie n t la b o r , o f p r o m p t ly g e ttin g
Its const ru c tio n w o rk d o n e , and o f o b ta in in g th e ro llin g s t o c k , rail an d o th e r
m a terial essential t o im p ro v e d fa cilitie s.
T h e m a n a g e m e n t last sp rin g a u th o r iz e d th e c r e a tio n o f th e “ d e v e lo p m e n t
a n d g eneral m o r tg a g e ” b o n d s t o th e a m o u n t o f $ 2 0 0 ,0 0 0 ,0 0 0 .
O f th e s e
bond-: $2 0 ,0 0 0 ,0 0 0 w ere at o n c e so ld an d th e p r o c e e d s are be in g sp en t as
r a p ld lv as th e w o rk can b e d o n e in a d d in g t o o u r fa cilitie s t o m eet th e g r o w ­
ing d e m a n d s o f business.

Compare President Spencer’s statement in V. 82, p. 397.
Rumor of Proposed N otes.— The “ New York Summary” on
Wednesday said:
T h e v io le n t break In th e s to ck s o f th e S o u th e rn R a ilw a y C o. t o - d a y w as
a c c o m p a n ie d b y a r e p o r t, w h ich w as g e n e ra lly c r e d ite d in w ell -In fo r m e d
ba n k in g q u a rte rs , thar th e c o m p a n y w as p re p a rin g t o brin g o u t an Issue
o f s h o r t-tim e n otes o f fro m $ 2 5 ,0 0 0 ,0 0 0 t o $'> 0 ,0 0 0 ,0 0 0 .
R e p re s e n ta tiv e s
o f th e c o m p a n y de cla re d th a t n o a c tio n had y e t b e e n ta k e n w ith th a t o b l e c t
In v ie w , bur a d m itte d th a t it w as p o s s ib le th a t s o m e s u ch issue w ill b e m a d e
In th e n o t d is ta n t fu t u r e .— V . 84. p . 52.

South Side" Elevated RR., Chicago.— Bonds.— The “ Chi­
cago Inter-Ocean” of Jan. 12 says:
T h e c o m p a n y has d e liv e re d a n o th e r $5 0 0 ,0 0 0 o f its 4'•£ % b o n d s t o th e
u n d e rw ritin g s y n d ic a te , m a k in g a to t a l o f $ 7 ,5 0 0 ,0 0 0 d e liv e re d t o d a te t o
th is s y n d ic a te . T h e se b o n d s w e re u n d e rw ritte n a t 97
an d a to t a l Issue
o f $ 8 ,0 0 0 ,0 0 0 w as a u th o r iz e d .
It is n o w u n d e rs to o d , h o w e v e r , th a t th e
$ 7 ,5 0 0 ,0 0 0 w h ich h a v e b e e n d e liv e re d w ill c o m p le te th e issu e, as th e e x ­
te n s io n w o rk has p rog ressed t o su ch a p o in t th a t th e last $50 0 ,0 0 0 w ill n o t
b e r e q u ir e d .— V . 82, p. 1 04 1, 278.

Terminal Railroad Association of St. Louis.— New Bond
Issue M ay Be Guaranteed.— A press report says:
E x e c u tiv e o ffic e r s o f railroad s o p e ra tin g in S t. L o u is , at a r e c c n t m e e tin g
in th a t c i t y , r e s o lv e d t o e x te n d th e cre d it o f th e ir lines t o th e T e r m in a l
R a ilr o a d A s s o c ia tio n o f S t. L ou is t o en a b le it t o en larg e an d im p r o v e Its
te rm in a l s y s te m .
F rom $ 10 ,000 000 t o $ 1 5 ,0 0 0 ,0 0 0 o f b o n d s w ill h a v e t o

THE CHRONICLE.

ICO

b e issu ed , In a d d it io n t o th e $ 1 ,0 0 0 ,0 0 0 p er a n n u m w h ic h is a v a ila b le fo r
th e a ss o c ia tio n fo r 15 y e a rs .
I t Is said th a t th e fre ig h t t r a ffic in S t. L o u is
has In creased 1 0 0 % in s e v e n y e a rs , an d figures ju s t c o m p le t e d d is p la y an
Increase o f 1 3 % In 1906 as c o m p a r e d w ith 1 90 5.— V . 8 3 , p . 1168.

Toledo Railways & Light Co. -Report.— The. results for
the year ending Dec. 31 were:
Y ear—
G ross.
1 9 0 6 _______________ $ 2 ,0 4 7 ,6 1 0
1 9 0 5 ----------------------- 1 ,9 1 3 ,4 5 6
— V . 83, p . 1525.

O p er. e x p .
$ 1 ,0 7 1 ,7 7 3
9 7 2 ,9 9 4

N et.
$ 9 7 5,83 7
9 4 0 ,4 6 2

Interest.
$ 5 0 9,60 7
510 ,307

B a l.,s u r .
$ 4 6 6,23 0
4 3 0 ,1 5 5

Toledo Railway & Terminal Railway.— Time Extended.—
The time for the deposit of bonds with the Columbia Trust
Co., 26 Nassau St., New York, and, as sub-depositary, the
Portland Trust Co., Portland, Me., has been extended to and
including Feb. 15.— V. 83, p. 1591.
Trans-Niagara Bridge Co.— See Frontier Electric Ry.
above.
Vandalia Railroad.— New O fficers.— First Vice-President
Joseph Wood has been elected President, to succeed James
McCrea, and J. J. Turner has been made First Vice-President,
E. B. Taylor Second Vice-President and D. T. McCabe Third
Vice-President and a member of the board of directors.— V.
83, p. 1591.
Wabash RR. Co.— Application to L ist.— Application has
been made to the New York Stock Exchange for permission
as from time to time issued under the financial plan, to list
S16,500,000 additional preferred stock and $16,500,000 ad­
ditional common stock, making the common stock listed and
to be listed $54,500,000 and the preferred stock $40,500,000.
Suit.— See Missouri Pacific R y .— V. 84, p. 52.
Wellington Grey & Bruce R y.— Interest Paym ent.— This
company, whose line is operated by the Grand Trunk R y .,
announces the payment of £3 0s. 6d. per £100 bond, to be
applied as to 16s. 9d. in final discharge of coupon No. 48,
due July 1 1894, and £2 3s. 9d. on account of coupon No. 49,
due Jan. 1 1895, payable on and after Jan. 1 1907, at 203
Dashwood House, New Broad Street, London, E. C. Last
year £3 3s. per bond was paid.— V. 83, p. 39.
West Jersey & Seashore R R .— Bonds Sold.— Brown Bros.
& Co. have recently purchased and since sold $1,061,000 of
the consolidated mortgage 4 % gold bonds, the proceeds of
which were used in part payment for the extensive improve­
ment made in the system, including the electrifying of the
road to Atlantic City. This makes $5,161,000 of the issue
outstanding. The balance of the authorized $1,839,000 is
reserved for underlying liens.— V. 83, p. 689.
Western Maryland R R .— Acquisition.— The company on
Thursday took over the entire $1,000,000 stock of the
George’s Creek & Cumberland, extending from Cumberland
to Lonaconing, Md., 21 miles, with 4 branches aggregating
12 miles; total 33 miles. Possession of the road will be taken
at once. There are outstanding $536,000 first mortgage
30-year 6 % bonds, due Oct. 1 1909, and a second mortgage
loan of $65,000, due Feb. 1 1908, the sinking funds on which
are, we are informed, practically sufficient to provide for
payment at maturity.— V. 83, p. 1465, 1476.
Western Massachusetts R y.— Proposed M erger.— Applica­
tion has been made to the Massachusetts Railroad Commis­
sion by the New York New Haven & Hartford interests for
permission to merge the Western Massachusetts Ry. Co.
and the Woronoco Street Ry. Co. through the purchase by
the former of all franchises and property of the Woronoco
Co. by an exchange of stock, share for share.— V. 82, p. 1324.
' Wiscasset Waterville & Farmington R y.— Reorganized.—
This company has been incorporated with authorized stock
consisting of $100,000 common and $200,000 5 % noncumulative preferred, as successor of the railroad company
of the same name, sold in foreclosure on Dec. 4 last. Of the
stock, all the common and $100,000 of the preferred have
been issued to pay for the property and $10,000 of the pre­
ferred has been sold for working capital, leaving $90,000
preferred stock available for future purposes. No bonds
will be issued. The officers are: President, Carson C.
Peck, 280 Broadway, New York; Treasurer, William D.
Patterson; General Manager, Samuel J. Sewall.— V. 83,
p. 1413.
-T-:

INDUSTRIAL, GAS AND MISCELLANEOUS.

Acme Steamship Co.— Bonds Offered.— See Chicago Navi­
gation Co. below.— V. 83, p. 215.
Alpha PortlandTCement Co. of New Jersey.— Status.—
This company, mentioned below under heading “ North
American Portland Cement Co.,” was incorporated in New
Jersey in 1895 with $500,000 authorized capital stock (in
$100 shares), since increased to $2,000,000, all of one class;
no bonds.
T h e c o m p a n y ow n s In fe e 200 acres o f c e m e n t r o c k la n d a t A lp h a , N . J .,
a n d 160 acres at M c A fe e , N . J ., a ls o m ills a t A lp h a , N . J ., h a v in g an a n n u al
c a p a c it y o f o v e r 4 ,0 0 0 ,0 0 0 barrels o f " A l p h a ” b ra n d P o r t la n d c e m e n t.
It
a lso c o n tr o ls b y ow n ersh ip o f en tire ca p ita l s to c k th e M a rtin s C reek P o r t ­
la n d C em en t C o. an d th e A lp h a P o r tla n d C em en t C o .!o f P e n n s y lv a n ia , a n d ,
t h r o u g h a m a jo r it y In terest, th e A n n v ille S to n e C o. T h e Alpha. P o r tla n d
C em en t C o. o f P e n n s y lv a n ia t o o k o v e r In 1905 th e p la n t o f th e o ld N a tio n a l
P o r tla n d C em en t C o. at E a s to n , P a ., a ll o f th e N a tio n a l C o m p a n y s $ 1 ,2 0 0 ,000 b o n d s h a v in g b e e n first re tire d ( V . 8 1 , p . 5 6 0 ).
O ffice rs — P resid en t, W . M . M c K e lv y ; V ic e -P r e s id e n t, A . F . G e rste ll;
S ec r e ta r y a n d T rea s u re r. G . S. B r o w n . E a s to n , P a .— V . 8 3 , p . 1413.

Aluminum Company of America.— New N am e.— See Pitts­
burgh Reduction Co. below.
American Agricultural Chemical Co.— A pplication to List.
— The New York Stock Exchange has been requested to list




[V o l.

l x x x iy

.

S229,000 additional preferred stock, making the total amount
listed $18,382,000.— V. 83, p. 1230.
American Cement Co.— Report.— The results for four
years past compare as follows:
Y ea r—
1906
1905
1904
1903

N et o f
I n t.,& c ., I n t.,& c ., D ivid en d s
B a la n ce,
o p er. cos. A m .C em .C o. Sub.Co. p a id .
su rp lu s.
$42 0,18 3
$84 ,471
$48 ,0 5 3
(7 % )$ 1 4 0 ,0 0 0 s u r .$ 1 4 7 ,6 5 9
2 08 ,815
8 4 ,0 4 6
19,500
(6 % ) 120 ,0 0 0 d e f.
14,731
2 10 ,189
86,9 8 9
20,6 0 0
( 7 % ) 140,000 d e f.
3 1 ,4 0 0
4 92 ,145
9 5 ,4 7 2
2 2 ,0 0 0
( 8 % ) 160 ,000 sur. 2 1 4 ,6 7 3

Change in P ar Value.— The shareholders at the annual
meeting adopted a resolution increasing the par value of
the stock from $10 to $50 a share by the issue of one share
of new stock (par $50) for every five shares of old stock
(par $10).— V. 83, p. 1525.
American Chicle Co.— New D irector.— H. M. Adams has
been elected a director to succeed E. Beeman; George H.
Worthington has been made President in place of W . J.
White; and George A. Stanton has become Vice-President,
Thomas Adams, Chairman of the Board, and Henry Rowley,
Secretary.
P rofits.— For half-year ending Dec. 31, contrasting with
years_ending June 30 1906 and 1905:
Profits for
Preferred
Common
Balance,
Total
Period Covered—
Period.
Dividend.
Dividend.
Surplus. Surplus.
6 m os.en d .D ec.31’0 6 . 8721,000 (3 % ) $90,000 (9 % ) 8540,000 S91.000 S I,850,000
Year end. June 3 0 '0 6 .1 ,4 0 4 ,0 0 0 (6 % ) 180.000 (13% ) 780,000 444,000 1,759.000
Y ea ren d. June 3 0 ’ 05.1,224,000 (6 % ) 180,000 (12% ) 720,000 324,000 1,315,000

New Plants.— It is announced that a new factor}1- has been
established by the American Chicle Co. in Kansas City, Mo.,
and that another plant will soon be erected in Kansas.—
"Journal of Commerce and Commercial Bulletin.” — V . 83,
p. 1349.
American Light~& Traction Co.— Report.— The results for
the year ending Dec. 31 were:
C a l. Y r . E a m ln q s .
N et P r o fit. P f . d i v . , 6 % .
C om . div.
B a l . ,s u r .
1906 . - . $ 2 ,2 6 3 ,7 3 6
$ 2 ,2 1 5 ,7 3 6
$ 8 5 3,06 8
(4 % % ) $32 0,90 2
$ 1 ,0 4 1 ,7 6 6
1905 - - - 1 ,3 7 3 ,6 2 1
1 ,3 3 6 ,1 6 8
570 ,8 2 2
( 3 M % ) 179,581
5 8 5 ,7 6 5
N o te .— F r o m th e surplus fo r th e y e a r 1906 w a s d e d u c te d $68 0,50 0 “ fo r
r e c o n s tru ctio n reserve f u n d ,” le a v in g a su rplu s o f $ 3 6 1 ,2 6 6 , a ga in st $58 5 ,7 6 5
fo r th e co r re s p o n d in g p e r io d o f th e p r e v io u s y e a r , be in g a de cre a se o f $ 2 2 4 ,4 9 9 .— V . 8 3 , p . 96 8 .
q

American Pipe Manufacturing Co., Phila.— Earnings.—
The company reports for the year 1906 net earnings of
$618,042, contrasting with $588,699 for 1905; dividends paid,
S480,000, against $352,481. The capital stock was increased
during the year from $4,000,000 to $5,000,000. Dividends
of 9 .6 % per annum are paid quarterly, Jan. 1, etc.— V. 83,
p. 273, 215.
American Smelting & Refining Co.— Status of Enterprise.—
Other Incom e.— J. S. Bache & Co., 42 Broadway, New York,
have begun the publication of a series of booklets entitled
“ Studies in Industrials ” No. 1 is devoted to the pre­
ferred stock of the American Smelting & Refining Co. The
firm says in substance:
T h e c o m p a n y has n o t in c lu d e d in its fin a n cial s ta te m e n ts e a rn in gs from
th e fo llo w in g s o u rce s: (1) U se o f H u n tin g to n a n d H eb e rle ln p a te n ts. (2)
M in ing p ro p e rtie s In M e x ic o , a v e r y v a lu a b le asset h e ld p rim a rily as a b a s e
o f su pplies b u t p r o fita b le d ir e ctly fro m th eir o p e r a tio n s . T h e p rofits h e re ­
t o fo r e h a v e b e e n used t o c o v e r th e c o s t o f p u rch a se an d d e v e lo p m e n t , b u t
th e d ire cto rs e x p e c t t o c a rry th e p ro fits t o cre d it o f p rolit a n d loss b eg in n in g
w ith fiscal y e a r en d in g A p r . 30 1907. (3) Its h o ld in g s o f $ 1 7 ,7 5 1 ,0 0 0
c o m m o n s to c k o f th e A m e r ic a n S m e lte rs' S e cu ritie s C o .
(4) S t o c k o f th e
U n ite d S ta te s Z in c C o . o f P u e b lo . In w h ic h th e c o m p a n y o w n s a c o n tr o llin g
in te re st.
(5) S to c k o f th e U n ite d L e a d C o . T h e se earnings w ill e v e n tu a U y
b e tran sferred fro m th ese v a rio u s In v e stm e n ts t o th e c r e d it o f th e p rofit a n d
loss a c c o u n t o f th e c o m p a n y .
[Since A p ril 30 190 6, th e en d o f th e last fiscal y e a r , th e c o m p a n y is u n d er­
s t o o d t o h a v e p a r te d w ith a la rg e a m o u n t o f t h e s t o c k o f th e U n ited L ea d
C o ., p re s u m a b ly t o th e N a tio n a l L ea d C o . In e x c h a n g e fo r th a t c o m p a n y ’ s
s t o c k u n d e r th e a m a lg a m a tio n p la n .— E d .] .— V . 8 4 , p . 105.

American Telephone & Telegraph Co.— Reduction in Price
of Bonds to Syndicate.— The “ Boston News Bureau” says:
I n th e n e g o tia tio n s in re la tio n t o th e r e c e n t p u rch a se o f $ 2 5 ,0 0 0 ,0 0 0
th r e e -y e a r 5 % n o te s , th e r e w a s In clu d e d an a g re e m e n t t o r e d u c e th e p r ice
o f t h e $10 0 ,0 0 0 ,0 0 0 4 % c o n v e r tib le b o n d s t o th e u n d e rw ritin g s y n d ic a te
3
% . m ak in g th e p rice o f th e b o n d s t o th e m 91 Instead o f 94
, as it has
b e e n h ith e r to .
B y r e a so n o f th e r e d u c tio n In p r ice , th e p u b lic issu an ce o f
a b lo c k o f th e b o n d s is s h o r tly e x p e c t e d .

Output.— The output of instruments (each telephone being
two “ instruments,” viz., one receiver and one transmitter)
for the month and twelve months ending Dec. 31:
-M o n th T o D e c . 31—
1906.
1905.
163 ,8 2 8
G ross o u tp u t ( n u m b e r ) ___________ 163 ,260
N et o u tp u t (n u m b e r )______________ 9 1 ,777
106 ,447
T o t a l o u t s ta n d in g __________________________
_______
— V . 8 4 , p . 105.

-12 M o n th s ------1906.
1905.
i»u o .
2 ,1 6 8 ,8 7 1
1 ,8 4 1 ,6 2 8
1 ,4 0 9 ,5 7 8
1 ,2 1 7 ,6 9 4
7 ,1 0 7 ,8 3 6
5 ,6 9 8 ,2 5 8

American Union Telephone Co., Philadelphia.— Holding
Com pany.— This company, incorporated under the laws of
Pennsylvania May 31 1906 recently elected its execu­
tive officers. In October last it increased its capital stock
from $10,000 to $25,000,000, of which S10,000,000 is
6 % non-cumulative preferred (with preference as to assets
as well as dividends), and authorized a mortgage to secure an
issue of $25,000,000 5 % convertible bonds. Of these bonds
some $6,000,000 will be reserved to retire underlying bonds
at or before maturity, $2,500,000 is issuable for exten­
sions and improvements and S16,500,000 is reserved to be
issued only for future additions, extensions and acquisitions,
at not exceeding 85% of the actual cost thereof, when the
net income of the company exceeds by 50% the interest
charged on the bonds outstanding and then to be issued.
Control has been acquired of the following companies,
having in operation in June last 40,040 telephones and pos­
sessing traffic agreements with numerous adjacent inde­
pendent telephone enterprises:
U n ite d T e le p h o n e ' & T e le g ra p h C o ., o p e ra tin g fro m th e P h ila d elp h ia
C o u n t y lin e t o W illia m s p o rt a n d w e st t o A lt o o n a , in clu sive ( V . 8 1 , p .
6 4 , 6 1 8 ).
t e r s e r * :*

THE CHRONICLE.

J a n . 19 1907.1

C u m b erla n d V a lle y T e le p h o n e C o ., e x te n d in g fro m H arrisbu rg s o u th w e st
t h r o u g h th e C u m b erlan d V a lle y t o th e S ta te lin e a n d n o rth w e st t o th e
B orou g h o f L e w lsto w n (V . 8 1 , p . 5G1).
L y k en s T e le p h o n e & T e le g ra p h C o ., o p e r a tin g e x c h a n g e cen tres a t
E liz a b e th v llle , L ylcen s, M lllerstiurg a n d T o w e r C ity .
C u m b erla n d V a lle y Telephone Co. of B a ltim o re C ity , o p e r a tin g in th e
S tates o f M a r y la n d , V irgin ia a n d W e s t V irg in ia .
B o y d s & D am ascu s T e le p h o n e C o . , e m b ra cin g th e C o u n ty o f M o n tg o m e r y ,
M d ., w ith p rin cip a l ex ch a n g es a t B o y d s a n d D am ascu s.
H u n tin g d o n & C learfield T e le p h o n e C o ., e x te n d in g fro m S n o w S h oe in
C en ter C o u n ty t o P a tto n In C a m b ria C o u n ty .
C a m b ria T e le p h o n e C o ., em b ra cin g th e C o u n ty o f C a m b ria.
In d ia n a T e le p h o n e C o m p a n y , e m b ra cin g th e C o u n ty o f In d ian a.
B ra d fo r d C o u n tv T e le p h o n e C o ., em b ra cin g th e C o u n ty o f B r a d fo r d , P a .
P o r t A lle g a n y T e le p h o n e C o ., em b ra cin g th e c o u n tie s o f M c K e a n a n d
P otter.
P e tr o le u m T e le p h o n e C o ., e m b ra cin g th e co u n tie s o f C ra w fo rd a n d
V en ango.
C om m ercia l U n ion T e le p h o n e C o ., e m b ra cin g t h e c o u n tie s o f E lk an d
JeH erson.
U n ion T e le p h o n e C o. o f E rie , e m b ra cin g th e co u n tie s o f E r ie , C r a w fo rd ,
M ercer, V e n a n g o , B e a v er, W a r r e n , M c K e a n a n d P o t t e r , In P e n n s y lv a n ia
e x te n d in g t o O lean , N . Y . , in c lu s iv e , a n d t o Y o u n g s to w n , O h io.
Y o r k S ta te T e le p h o n e C o ., e m b ra cin g p rin cip a l e x c h a n g e cen tres at
E lm ira , B in g h a m to n an d O w e g o , N . Y .
P h ila d elp h ia P itts b u rg h & E rie T e le p h o n e C o ., o rg a n iz e d as a su b sid ia ry
o f th e A m e rica n U n ion C o. t o h a n d le p resen t a n d p r o p o s e d lo n g d ista n ce
lin es in 43 co u n tie s in th e S ta te o f P e n n s y lv a n ia .

The control of these companies has been acquired by use
of $2,000,000 each of common and preferred stock and with­
out the use of cash; $250,000 of each class of the new shares
has been issued for organization expenses, and $750,000 of
preferred and S I,500,000 common have been sold with the
fiist $1,500,000 bonds for $1,500,000 cash to provide for new
construction and other corporate purposes. There is there­
fore outstanding $3,000,000 pref. stock, $3,750,000 common
stock and $1,500,000 bonds, with an additional $1,500,000
bonds immediately available for further extensions, &c.
The earnings of the aforesaid companies for an entire year
based on results for June 1906 are reported as follows:
G ross e a rn in g s ____________ $ 1 ,0 1 8 ,0 1 3 1F ix e d c h a r g e s ------------------------$369,281
N e t e a rn in g s_______________
495 ,7 3 9 |B a la n ce , s u r p lu s ------------------- 126,458

It is estimated that after the expenditure of the $1,500,000
new money, the new company should show annual results
as follows:
G ross earn in gs, $ 1 ,5 0 0 ,0 0 0 ; n e t , $ 70 0,00 0; fixed ch a rg e s o f c o n s titu e n t
c o m p a n ie s o n $ 6 ,0 0 0 ,0 0 0 b o n d s , re n ta ls, & c ., $ 3 7 0 ,0 0 0 ; in terest o n $ 1 ,5 0 0 ,000 new b o n d s, $ 75 ,000 ; b a la n c e , surplus fo r d iv id e n d s , & c ., $ 2 5 5 ,0 0 0 .

The officers and directors are:

161

Central Leather Co.— Plan Approved.— The shareholders
at a special meeting on Jan. 16, by a favorable vote of 498,819
out of a total of 690,403 shares outstanding, ratified the
proposition to consolidate the company with the United
States Leather Co. The meeting adjourned until Feb. 16.
The United States Leather Co. has been restrained by the
Courts, in the suit of the minority shareholders who are op­
posing the consolidation, from holding the meeting to com­
plete the merger until Feb. 1, to which date the time of the
defendants to answer has been extended. See also V. 84,
p. 105.
Chaparra Sugar Co.— Stock Reduced.— This New Jersey
corporation has reduced its capital stock, of which $5,000,000
was authorized and $3,750,000 was issued, to $1,260,000
authorized and $10,000 issued, by the cancellation of the
$3,740,000 owned by the company. Par of shares (un­
changed), $100. Compare V. 83, p. 753.
Chicago Navigation Co.— Bonds Offered.— The Security
Trust Co. of Detroit is offering for sale at par and interest
the following 5 % gold bonds secured by a first lien on steel
steamers and payable in ten annual series of 10% each.
Denomination, $1,000; interest payable Jan. 1 and July 1
at office of Security Trust Co., Detroit.
Name of
Total
Bonds
1st 10% o f -----------Steamship Covered.----------Company.
Issue.
Dated. Princ. Due.
Name.
Cost. Tonnage.
A cm e S . S. C o .-.82 00,0 00 April 1 ’ 07 Jan. 1 ’ 09 N ot stated
5410,000 10,000
Chicago Nav. Co. 280,000 O ct. 1 '0 6 Jan. 1 ’0 8 /W . E . F itzgerald ]560,0001 7,750
\Jas. S. Dunham J
f 7,750
CuyahogaS.S.Co. 200,000 April 1 ’07 Jan. 1 ’ 09 Sheldon Parks
410,000 10,000
Jenkins S. S. C o. 150,000 April 1 ’ 07 Jan. 1 '0 9 N ot stated
330,000
9,000
Mesaba S. S. C o.H 4 5 ,0 0 0 April 1 ’ 07 Jan. 1 ’ 08 N ot stated
375,000/ 10,500
x Due In semi-annual installments o f $14,000 and $15,000.
1 (gross)

For further particulars regarding Acme Steamship Co.
see V. 83, p. 215, and for Mesaba Steamship Co., V. 83,
p. 497, 894.
Chicago (Bell) Telephone Co.— Report.— The results for
the year ending Dec. 31 were:
Y ea r—
G ross.
1 9 0 6 ...........
$ 7 ,9 0 7 ,5 6 7
1 9 0 5 _________________ 7 ,1 3 1 ,3 4 2
1 9 0 4 __________________ 6 ,3 7 3 ,1 1 6
C o m p a re V . 8 3 , p . 1100.

N et.
$ 1 ,6 1 8 ,1 4 4
1,6 2 6 ,8 1 1
1 ,5 6 3 ,6 1 6

D lv id ’ s ( 1 0 % ) .
$ 1 ,4 0 0 ,0 0 0
1 ,4 0 0 ,0 0 0
1 ,4 0 0 ,0 0 0

B a l., su r.
$ 2 1 8,14 4
226,811
163 ,6 1 6

O fficers.— E llis O rv is o f B e lle fo n te , P re sid e n t; B . F . M eyers o f H arris­
b u r g , V ice -P r e s id e n t; S. Ft. C a ld w e ll, S ecre ta ry a n d T reasu rer; F . D . H o u c k
o f H a rrisb u rg , G eneral M anager.
D ir e c to r s .— Joh n W . G a rla n d , P itts b u rg h ; W . B . T r a s k , E rie; A . W . Lee
a n d Jam es K e rr , C learfield, P a .; J. L . S p a n gle r, B e lle fo n te , P a .; W illia m
K a u l, S t. M a r y ’ s, P a .; E d w a rd B a ile y , L y m a n I ). G ilb e r t, G e o rg e W . R e ily
an d IS. F . M yers, H a rrisb u rg , P a .; R e m b r a n d t P e a le , N ew Y o r k C ity;
J . S lo a t F a ss e tt, E lm ira , N . Y .; E llis L . O rv is , B e lle fo n te , P a .; S . P . L ig h t;
V ic e -P r e sid e n t L e b a n o n C o u n ty T ru s t C o .; H . P ren tiss T a y lo r , P itts b u r g h ,

Cincinnati & Suburban Bell Telephone Co.— New Stock.—
The shareholders will vote Feb. 20 on a proposition to in­
crease the authorized issue of capital stock from $5,000,000
(of which $22,000 is'said to be in the treasury) to $8,000,000,
to provide from time to time for extensions and additions.
The "Cincinnati Enquirer” of Jan. 11 says: " I t is proposed
The main office of the company is at 227 Walnut St., to issue on March 1 $500,000 of the new stock to the stock­
Harrisburg, Pa. H. P. Taylor & Co., Pittsburgh, who are holders at par, at the ratio of one new share for every ten
interested in the enterprise, write that the foregoing par­ shares held at present.” The par value of the shares is $50.
ticulars, taken from the prospectus, are "nearly correct and "The annual dividend rate was recently increased from 6 %
to 8 % .” Compare V. 83, p. 1526.
will need no revision at this time.”
Colorado Fuel & Iron Co.— Resources and Strategic Condi­
American Writing Paper Co.— Reduction of Authorized tions.— See article in "Engineering and Mining Journal” of
Capital Stock.— The shareholders at the annual meeting on New York for Jan. 12 1907 and Dec. 29 1906.— V. 83, p. 1592.
Feb. 12 will vote on reducing the authorized capital stock
Consolidation Coal Co. of Maryland.— Extra Dividend.—
from $25,000,000 to $22,000,000, by reducing the limit of
common stock issue from $12,500,000 to $9,500,000 by the The directors on Jan. 14 declared the regular quarterly divi­
dend of 1J^% and an extra dividend of 2 % , payable Feb. 13,
cancellation of the $2,000,000 of treasury shares and the
$1,000,000 which has never been issned. The preferred making 8% paid from the earnings of 1906 against 6 % for
1905. See also Fairmont Coal Co. below.
stock remains as now, $12,500,000, all outstanding.— V. 83,
Report.— For year ending Dec. 31 (Dec. 1906 estimated):
p. 820, 689.
G ross
Total
C h arges, A p p ll c . to
Y e a r 's
B a la n ce,
Baldwin Locomotive Works, Phila.— Annual Output.— Y ea r. E a rn in g s.
N et.
& c.
D ivid en d s.
D ivid en d s.
S u rp lu s.
----------N o t sta te d ------------------ $ 1 ,4 3 4 ,8 6 8 ( 8 % ) $ 8 2 0 ,0 0 0 $ 6 1 4 ,868
The company’s output for the year 1906 comprised 201 11 99 00 65---.
..$ 4 ,1 6 5 ,4 3 7 $ 1 ,5 7 4 ,9 9 4 $ 5 5 7 ,7 0 4
1 ,0 1 7 ,2 9 0 (6 % )6 1 5 ,0 0 0
4 0 2 ,2 9 0
electric and 2,451 steam locomotives, total 2,652 against:
1 9 0 4 _ . 4 ,1 3 0 ,5 8 9
1 ,4 6 6 ,7 0 3
5 36 ,367
9 3 0 ,3 3 6 ( 4 % )4 1 0 ,0 0 0
5 2 0 ,3 3 6
T otal A n n u a l O utput o f L ocom otives— Steam and E le c tr ic .
Y e a r—
1901.
1902.
1903.
190 4.
1905.
N u m b e r .......................1,375
1,533
2,0 2 2
1,485
2 ,2 5 0
— V . 8 2 , p . 453 .

1906.
2,6 5 2

►"•Boott (Cotton) Mills.— Option to Subscribe.— An increase
in the capital stock from $600,000 to SI,000,000 has been
authorized, and holders of trust receipts for existing shares
of record Dec. 22 may subscribe until the close of business
Jan. 24 to the extent of two shares, par S100, for every three
shares of their respective holdings. Subscriptions are pay­
able at the Treasurer’s office, Boston, Jan. 24 S25, April 2
$50 and July 2 $25; interest at 5 % per annum will be paid
on installments. The proceeds will be used for improve­
ments,'new machinerv and additional working capital.— V.
8 2 , ’ p . 2 2 0 .. ;. : •:

•

■

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

pT- Broadway-Cortlandt 'Co.,rNew>York.— Description of Pro­
posed Building.— The "Engineering Record” of New York
on Nov. 24 1906 contained an illustrated article regarding
the 32-story building which is being built by this subsidiary
of the City Investing Co. Compare V. 83, p. 820.
Cambria Steel Co.— Consolidation Rumors.— See Pennsyl­
vania Steel Co. below.— V. 82, p. 1499.
Central Foundry Co., New York.— New Officers.— A. F.
Gartz, for many years Treasurer of the Crane Company of
Chicago, has been elected President, succeeding Alfred Fowle,
J. B. Murphy, Vice-President of the Central Foundry Co.,
has also resigned. These changes are supposed to be the
outcome of the dissatisfaction expressed by the shareholders
atjthe annual meeting last August.— V. 83, p. 489, 438.
]T: Central Glass Co. of Wheeling, W . V a .— Stock Dividend.—
A press dispatch from Pittsburgh states that the directors
have declared a stock dividend of 50% on the capital stock
in':addition to the regular quarterly cash dividend of 2 % ,
thus increasing the share capital from $300,000 to $450,000.




1 9 0 3 -- 4 ,4 1 9 ,2 4 9
— V . 8 3 , p . 1039.

1 ,8 7 0 ,2 4 9

7 8 2 ,7 3 7

1 ,0 8 7 ,5 1 2

(4 % )4 1 0 ,0 0 0

677 ,512

Consolidated Steamship Lines.— Increase in Capital Stock
by Company to Be Controlled.— See Hudson Navigation Co.
below.— V. 84, p. 53.
Copper Range Consolidated Co.— Negotiations— Possible
Consolidation.— John D. Ryan of the Amalgamated Copper
Co. and Thomas F. Cole, it is understood, have acquired a
substantial, though not, it is said, a controlling, interest in
a number of Lake Superior copper properties, with a view to
a large consolidation, and are conducting negotiations which
may result in the merging of the Copper Range Consolidated
Co., Osceola Consolidated Mining Co., Tamarack Mining Co.
and other important companies.— V. 83, p. 1349.
Corona Coal & Iron Co.— Sale.— See Monongahela River
Consolidated Coal & Coke Co. under ‘Annual Reports” on a
previous page.— V. 78, p. 1277.
Crystal Water Co., Staten Island.— Called Bonds.— The
entire outstanding issue of 4 % 20-year first mortgage gold
bonds of 1904 ($700,000 authorized) has been called for re­
demption at par and interest at the Equitable Trust Co.,
15 Nassau St., New York, on Feb. 14.
Purchase by C ity.— The Board of Estimate of the City of
New York some time since approved the purchase of the
property for $720,563 free and clear of all liens, and physical
possession will be taken on Feb. 1. The market value also
will be paid for any pipes on hand.— V. 73, p. 1063.
(The) Cuban-American Sugar Co.— See Chaparra Sugar
Co. above.— V. 83, p. 753.
Cudahy Packing Co. (of Illinois), Chicago.— New Stock—
Earnings.— The "Chicago Inter-Ocean” of Dec. 29 said:
F o r th e p u r p o s e o f e n a b lin g lt t o ta k e ca re o f Increasin g b u sin e ss, th e
C u d a h y P a ck in g C o . has Increased Its ca p ita l s to c k fro m $ 7 ,0 0 0 ,0 0 0 t o
$ 1 2 ,0 0 0 ,0 0 0 .
D u rin g th e y e a r e n d e d S e p t. 1 th e c o m p a n y earn ed $ 8 2 6 ,0 0 0 , w h ich Is
eq u a l t o a little m o r e th a n 1 1 % o n th e o ld ca p ita liz a tio n o f $ 7 ,0 0 0 ,0 0 0

THE CHRONICLE,
B a lan ce Sheet o / S ep t. 1 1933 filed in M a ssachusetts.
A s s e ts .—
1906.
1903.
|
1906.
'n
t n
1i fi p ? ——
R e a l esta te a n d
s
m a c h in e r y - _ 5,50:),384 4 ,7 0 9 ,5 1 6 1Capital s t o c k . 7 ,0 0 0 ,0 0 0
M e r ch a n d is e -- 1 0 ,2 /9 ,1 6 0 8 ,0 7 3 ,3 2 6 A c c t s . p a y a b le l 8 ,8 5 6,603
C a sli& d eb ts r e c .2,8 1 1 ,3 0 7 1,946,371 i F lo a t .d e b t .,& c .j
S t o c k _________
__________
108,7501 S u r p l u s _______ 1 3 ,9 2 1 ,7 8 6
C a r lin e s_____ __________
8 4 5 ,4 0 1 1P r o fit& lo ss
M isc. in v e s t’ s . 1 ,1 7 7 ,3 3 8
T o t a l _______13,7 7 8 ,3 8 9 1 6 ,5 8 3 ,3 6 4 |
— V . 8 3 , p . 34.

190 5.
$

,000 ,000

7,
j 5 6 5 ,4 7 0
\5 ,9 2 2 ,4 7 5
] 2 ,2 1 3 ,5 5 0
\ 8 8 1 ,8 6 9

T o t a l - ...........1 9,7 7 8 ,3 8 0 1 6 ,5 8 3 ,3 6 4

Cumberland (Ball) Telephone & Telegraph Co.— Option to
Subscribe.— Shareholders of record are entitled to subscribe
at par, $100 per share, to the $3,362,400 new stock issued
“ to meet the growth of the business/’ on the following terms;
E a ch s to c k h o ld e r o f r e c o rd at 3 p. m . on Jan . 15 is e n title d t o s u b s c r ib e
In th e p r o p o r tio n o f o n e share fo r e v e r y live shares th a t he th e n h e ld .
The
rig h t t o su b scrib e w ill expire- ar 3 p . m . F e b . 1. S u b s crip tio n s m u st b e p a id
a t th e o ffic e o f th e T reasu rer in N a sh v ille , T e n n .. o n o r b e fo re F e b . 1 o r, a t
th e o p t io n o f ea ch s to c k h o ld e r : O n e -fo u r th F e b . 1, o n e -fo u rth A p ril 1, o n e fo u r th J u ly 1 an d o n e -fo u rth O ct. 1, o r th e rem a in d er o f a n y d e fe r re d p a y ­
m en ts m a y be m ad e o n a n y o f th e a b o v e -n a m e d d a te s.
S to c k c e r tific a t e s
w ill be issued for th e a m o u n t o f p a y m e n ts as m ade, a n d th o s e d a t e d F e b . 1
w ill p a r ticip a te in d iv id e n d o n A p ril 1 .— V . 8 4 , p . 105.

Cuyahoga Steamship Co.— Bonds Offered.— See Chicago
Navigation Co. above.
Danbury & Bethel Gas & Electric Light Co.— New Securi­
ties.— This company, it is announced, will apply to the
Connecticut General Assembly for authority to increase its
capital stock from $200,000 to $300,000 and its bonded debt
from $120,000 to $225,000.— V. 78, p. 1112.
Dayton (O.) Gas Light & Coke Co.— Irregularities.— The
examination of the company’s books by an expert accountant,
in connection with offers to purchase a majority of the $1,250,000 capital stock, has revealed, it is alleged, irregulari­
ties on the part of the company's Secretary, who, the Presi­
dent being a nonagenarian and inactive, had applied sums
aggregating $200,000 or more to “ legislative” and other pur­
poses, with the result, it is said, that there is a considerable
floating debt,although the dividends of 8 % per annum have
been more than earned. The following board was elected
on J a n .14:

[V o l.

l x x x iy .

operating increases largely with the increase in telephones.
An increase in rates has also been reported recently for
the following independent properties:
.Lincoln (N e b .) T e le p h o n e C o .— R e s id e n ce te le p h o n e s fr o m $ 1 75 t o $2
a n d business te le p h o n e s fro m $3 t o $4.
T h e U n io n E le c tr ic T e le p h o n e & T e le g ra p h C o. a n n o u n c e s t h a t u n less
it is g iv e n p erm ission b y th e C it y o f R o c k Is la n d , 111.,to r a is e its ra te s , it
m u st g o o u t o f business.
M em phis (M ich .) I n d e p e n d e n t T e le p h o n e E x c h a n g e , an in crea se o f fro m
33 1 -3 % t o 66 2 -3 % fo r h o u se a n d fr o m 66 2 -3 % t o 1 0 0 % fo r b u s in e s s
s e rvice .
K e w a n e e (III.) H o m e T e le p h o n e C o ., Increase 1 0 % .
F a y e tte H o m e T e le p h o n e C o ., L e x in g t o n . K y ., business ra tes a d v a n c e d
fro m S3 50 t o $4 per m o n t h .— V. 8 3 , p . 1039, 216 .

Hudson Navigation Co.— Increase of Capital Stock.— This
New Jersey corporation has filed a certificate of increase of
capital stock from $4,000,000 to $8,000,000. See Consoli­
dated Steamship Lines in V. 84, p. 53.— V. 83, p. 1039.
Illinois Tunnel Co.— Sale of Telephone Equipment— Rental
for Telephones.— See Independent Telephone Co. of Chicago
below.
Earnings.— For the calendar year 1906 the company
reports gross revenues of $221,176 against $108,300 in 1905,
an increase of $112,876 over 1905. The company, it is
stated, did not begin to carry freight to any large extent
until about Nov. 1 last.— V. 83, p. 323.
Independent Telephone Co. of Chicago.— Purchase—
Rental.— This company is being organized under the laws
of Illinois to take over the telephone business of the Illinois
Tunnel Co., under the contract recently entered into with
that company by a syndicate represented by Martin W .
Littleton of this city. The syndicate has paid the $1,500,000
due the Illinois Tunnel Co. on the purchase of its telephone
equipment and this week, it is stated, paid in the first in­
stallment of $1,500,000 on account of the funds needed for
new construe ion, it being proposed to establish a system of
100,000 telephones as rapidly as possible.

T h e c o n tr a c t p r o v id e d fo r th e p a y m e n t t o th e T u n n e l C o. o f $ 1 ,5 0 0 ,0 0 0
fo r its te le p h o n e e q u io m jn t a.i i an an lual ren tal o f $5 fo r e a ch t e le p h o n e
In s e rv ice , an 1 req lir e ; the e sta b lish m e n t o f a sy ste m o f 20,0 0 0 te le p h o n e s
b y th e end o f tiie*firit y ear (th e re b e in g . It is s a id , less th a n 6,000 telep h on es
n o w in o p e ra tio n ) an d ttie In stallation o f 10.000 a d d itio n a l te le p h o n e s v e a r ly
R o la n d R . C on k lin w ill p r o b a b ly
H.
C. G ra v es, J. K . M c In ty r e , J o h n A . M cM a h o n , C. B . O g le s b y , D . B . a fte r Jan . 1 1 3 0 } u n t 1 10 5,030 are In u ;e .
b e P re s id e n t. E. L. iJirb^ r, V ice -P r e s id e n t, a n d L ou is D u n c a n , C on su ltin g
C orw in , R . R . D ic k e y J r ., W . K . C a llah an , O . I. G u n ck e l, W . B . G ebE n gin eer.
E . L. B ^ . b e r o f In d ia n a an d J . C. P ow ers o f L o u is v ille , K y .,
h a r t .— V . 8 0 , p . 1114.
w h o are p r o m ln e n 'ly id e n tifie d w ith th e In d e o e n d e n t te le p h o n e m o v e m e n t ,
Dominion Coal Co.— New Directors.— G. H. Duggan and are la rg e ly In terested In th e en te rp rise . C o m p a re A u to m a tic E le c tr ic C o.
C. H. Forgie, respectively Assistant General Manager and In V . 8 4 , p . 53.

Superintendent of Mines, have been elected directors, to
succeed Sir William Van Horne and F. S. Pearson, resigned.
— V. 83, p. 1473.
Fairmont Coal ^Co — Dividend Increase.— This company,
$6,001,200 of whose $ 2 000,000 capital stock is owned by
the Consolidation Coa Co. of Maryland (which see above),
has declared a dividend oi 3 % , payable Feb. 12, making
with the 1^2% which was paid June 5, 1908, a total for the
year 1906 of 4 ^ % , contrasting with 2 % paid in Feb. 1906 for
the entire year 1905, with 3 % paid for 1904 and 2 % for 1903.
Report.— For calendar years (Dec. 1906 estimated):
C a l.
G ross
Y ea r. E a rn in g s.
1906. .
-N ot
1 9 0 5 ..$ 3 ,5 1 8 ,6 7 4
1 9 0 4 - . 3 ,7 5 4 ,1 5 2

T otal
C h arges, A v a ila b le
D ivid en d
B a la n ce ,
N et.
& c.
Tor D iv .
D eclared .
S u rp lu s.
y e t r e p o r te d — ------- $ 1 ,0 7 1 ,5 8 1 ( 4 ^ ) 5 4 0 ,0 0 0 $53 1,58 1
$96 S ,4 13 $ 5 9 6,09 7
3 7 2 ,3 1 6 ( 2 % )2 4 0 ,0 0 0
132 ,316
1 ,1 8 6 ,5 3 7
542 ,6 0 2
643 ,935 ( 3 % )3 6 0 ,0 0 0
283 ,9 3 5

New Director.— George A. von Lingen has been elected a
director to succeed Mr. Walter G. Oakman, of New York,
resigned.— V. 83, p. 1593.
(B. F.) Goodrich Rubber Co., Akron, Ohio.— New Officers.
— George T. Perkins having declined re-election on account
of failing health, the following officers were elected at the
annual meeting on Feb. 9:
P r e s id e n t B ertram G . W o r k ; V ic e -P r e s id e n t, F . H . M ason; S e c o n d
V ic e -P r e s id e n t. H . E. R a y m o n d ; S e c r e t a r y , E . C. S h a w ; G en eral M an ag er,
C. B. R a y m o n d ; S u p e rin te n d e n t, C. C. G o o d r ic h .— V . 8 2 , p . 573 .

Gottlieb-Bauernschmidt-Straus Brewing Co., Baltimore.
— Plan for converting $3,500,000 5 % Income Bonds into
$4,000,000 4 % Second Mortgage Bonds.— With the approval
of the management, a plan has been formulated inviting
holders of income bonds to exchange same for an equal
amount of second mortgage 4 % bonds, upon subscribing at
70 for an amount of 4 % second mortgage bonds equal to
about 25% of their holdings. The plan is withheld pending
its approval by the income bondholders, but Edgar G. Young,
35 Wall Street, New York;i who makes a specialty of the
company’s securities, says:
T h ere are 5 3 ,2 3 2 ,0 0 0 In com e b o n d s held b y th e p u b lic — th e r e m a in d e r
bein g ow n ed b y the c o m n a n y . T h is plan w ill Increase th e w o rk in g c a p ita l
b y a b o u t 5 5 0 0 ,0 0 0 . T h e m o n e y Is requ ired t o secure n ew p rop erties w h ic h
w ill m a teria lly Increase th e earn in g p o w e r o f th e c o m p a n y . S in ce the new
m a n a g em en t t o o k ch a rg e o f t h e affairs o f th e c o m p a n y , its business has been
p r o fita b le , th e net earnings o f th e y e a r e n d in g F e b . 28 1906 be in g a lm o st
d o u b le th ose o f th re e yea rs a g o .
T h e c o m n a n y ’s p ro fits on Its p resen t
o u tp u t are equal t o tw ice th e in terest ch arges o n th e new s e co n d m o rtg a g e
b o n d Issue o f $ 4 ,0 0 0 ,0 0 0 . O n th e b \sls o f th e present m a rk e t price o f th e
In com es, th e c o s t o f th e new se c o n d
b o n d s is a b o u t 40.
T h ere are $ 5 ,6 2 5 ,0 0 0 lirs' m o r tg a g e 4 % b o n d s , d u e 1951, w ith ann ual
sin kin g fu n d o f $2 5 ,0 0 0 .
F o r th e past t w o y e a rs th e sem i-an n u al d iv id e n d
on th e In com e b o n d s has been at th e ra te o f 3 % per a n n u m .
In 1904-05
th e surplus earnings a m o u n te d to 6 % an d in 1905-08 t o 1 0 % % on th e
in co m e s .
D u rin g th a t n e i!o d $ 2 1 0,00 0 has b e e n p a id in d iv id e n d s t o th e
In com e b o n d h o ld e rs , and a lm o s t d o u b le this sum has be e n sp en t In b e t t e r ­
m en ts an d Im p rov e m e n ts.
C a pital s t o c k , $ 5 ,0 0 0 ,0 0 0 .
C o m p a re V . 82,
p . 1215; V . 8 3 . p. 754 .

Great Western Power Oo.— Reported D eal.— See Pacific Gas
& Electric Co. under “ Railroads” above.— V. 83, p. 1414, 972.
Home Telephone <fe Telsgraph Co. of Los Angeles, Cal.—
Increase in Rates.— This company announces an increase of
nearly 25% in its charge for business telephones, namely
from $4 25 to $5 25 a month. It is stated that when the
$4 25 rate was fixed, the company had only 3,000 telephones;
now there are 25,000, and it is well known that the cost of




International Harvester Co.— Announcem ent.— President
Cyrus H. McCormick has made a statement to the stock­
holders in connection with the classification of the capital
stock:
A lth o u g h th e pro p e rtie s a cq u ire d at o r ? m lza M on , Incl'id'.nT a c a s h w o r k ­
ing ca p ita l o f $ 60 ,000 ,00 3 a n a e x c lu d in g all a 'o w a n -je s fo r g o o d -w ill, w ere
a p p ra ised b y In depen den t app raisers at a v a lu e In e xce ss o f $ 1 2 0 ,0 0 0 ,0 0 0 ,
lt w as d e cid e d t o lim it th e secu rities lssv j i ;o $ 1 2 0 ,3 0 0 ,0 0 0 o f c o m m o n s t c o k
(th ere bein g no b o n d e d d e b t ), in o rd e r th at th e c o m p m y m ig h t be u p o n a
firm financial fo u n d a tio n fro m th e o u ts e t.
A ft e r carefu l c o n s id e r a t io n an d a ft e r c o n s u lta tio n w it h Im p orta n t In­
terests In th e c o m p a n y , th e b o a rd o f d ir e cto r s h i v e d e te rm in e d t h a t It w o u ld
b e t o th e Interest o f all th e s to ck h o ld e rs t o d iv id e th e s t o c k issue o f $ 1 2 0 ,0 00 ,000 Into tw o classes o f s -o c k o f $ 6 0 ,0 0 0 ,0 0 0 e a c h , o n e cla ss bein g c o m ­
m o n s to c k an d th e o th e r class b e in g 7 % c u m u ia t lv e preferred s t o c k , p r e ­
fe rr e d b o ‘ h as t o d iv id e n d s and assets.
U nder th e ch a n g e d c a p ita liz a tio n , e a ch s to c k h o ld e r w ill r e c e iv e o n e share
o f p referred s to c k an d o n e sh a re o f c o m m o n s t o c k fo r e v e r y t w o shares o f
e x is tin g s to c k .
T h e net earnings fo r th e last fo u r years (a fte r s e ttin g aside reserves fo r
d e p r e c ia tio n , & c., ag g re g a tin g $ 4 ,5 0 0 ,0 0 3 ) h a ve been as fo llo w s :
190 3
................
$ 5 ,6 4 1 ,1 8 1 1 1 9 0 5 ..................................... ..
$ 7 ,5 0 1 ,5 8 5
190 4
5 ,7 0 3 ,7 1 2 1 1 9 0 6 (p a r tly e s t im a t e d ).
8 ,6 2 2 ,4 4 6
T o t a l fo r fo u r y e a r s _______________________________________________$ 2 7 ,4 7 4 ,9 2 4
O f these earnings o n ly $ 1 8 ,0 0 0 ,0 0 0 h a v e b e e n a p p lie d t o th e p a y m e n t o f
d iv id e n d s , th e d iv id e n d ra te h a v in g been 3 % fo r th e lirst y e a r an d 4 % fo r th e
su cce e d in g yea rs. T h e b a la n ce o f th e earn in gs, a m o u n tin g t o $ 9 ,4 7 4 ,9 2 3 ,
has b e e n ca rrie d t o surplus an d e x p e n d e d In en la rgin g t h e fa cilities o f th e
c o m p a n y . T h e se e x p e n d itu re s sh o u ld result In Increased e a rn in g s.
It Is
th e re fo re expecteid th a t th e c o m p a n y w ill b e ab le t o m a in ta in th e p a y m e n t o f
regular q u a rte r ly d iv id e n d s o n its $ 6 0 ,0 00 ,000 o f p re fe rre d s to c k a t th e ra te
o f 7 % per a n n u m , a n d a ls o t o p a y d iv id e n d s o n th e -co m m o n s t o c k , w h ic h
sh o u ld Increase as th e e arn in gs Increase.
T h e new preferred s to c k w ill c a rry d iv id e n d s fro m F e b . 15 1907.
The
d ire cto rs belie v e th a t In th e p re fe rre d s t o c k th e s to ck h o ld e rs w ill h a v e a
safe 7 % In v e stm e n t, a n d th a t th e c o m m o n s t o c k , w h ich fro m th e o u t s e t
w ill represent a c tu a l assets h a v in g a v a lu e m a te ria lly In e x ce ss o f th e p a r
va lu e o f th e s t o c k , w ill g r o w m o re v a lu a b le as th e busin ess o f th e c o m p a n y
In creases.”

The voting trustees, George W . Perkins, Charles Deering
and Cyrus H. McCormick, announce that they have sur­
rendered the stock deposited with them under the voting
trust agreement of Aug. 13 1902, and that interim voting trust
certificates will soon be issued for the new sacurities. Ihese
will be exchanged later for the engraved certificates.— V . 84,
p. 106.
International Silver Co.— New Officers.— First Vice-President George H. Wilcox has been elected President to succeed
the late Samuel Dodd and Second Vice-President George
C. Edwards of Bridgeport has been made First \ ice-Pres dent
to fill the vacancy caused by Mr. Wilcox’s promotion.
Charles A. Hamilton of New York has been elected Second
Vice-President and C. H. Tibbitts of Wallingford third VicePresident.— V. 82; p. 1044.
lola Portland Cement Co.— See North American Portland
Cement Co. below and in V. 83, p. 1416.— V. 83, p. 1350.
Ithaca (N. Y .) Water-Works Co .— Appraisal of Plant
Preparatory to Purchase by C ity.— See Ithaca (N. Y .) in
“ State and City Department” on another page.
Jenkins Steamship Co.— Bonds Offered.— See Chicago Nav­
igation Co. above.
Lamb-Fi3 h Lumber Co., Memphis, Tenn.— Consolidation—
Mortgage.— This company, which was incorporated under
the laws of New Jersey on Aug. 14 1906, with $1,500,000
capital stock, in shares of $100 each, and absorbed the
Bacon-Nolan Hardware Co. and the Guirl-Stover Lumber

J an . 19 1907. J

THE CHRONICLE.

Co., has filed at Memphis, Tenn.; a mortgage to the First
Trust & Savings Bank of Chicago, as trustee, to secure an
issue of $1,500,000 “ first purchase money mortgage bonds.”
The bonds will cover all property of the company, which con­
sists of large holdings of timber lands in Panola County,
Quitman County and Tallahatchie County, Mississippi,
cut timber, saw mills, &c. Scott Brown, South Bend, Ind.,
is attorney for the company.
Lawyers’ Mortgage Co., New York.— R eport.— See “ An­
nual Reports” on a preceding page.
New Directors.— Theodore C. Camp, Franklin B. Lord
and A. Henry Mosle have been elected directors, to succeed
Emory McClintock, W . W . Richards and Henry Rogers Winthrop.— V. 83, p. 21G.
Lehigh Portland Cement Co., Allentown, Pa.— New Stock.
— This Pennsylvania corporation has filed a certificate of in­
crease of capital stock from $3,765,350 to $3,793,850.
Compare North American Portland Cement Co. below.
Mackay Companies.— Preferred Stock Offered.— Harvey
Fisk & Sons, New York, are offering at 7 1 and interest
$500,000 4% preferred stock; interest payable quarterly
January, &c., being part of the authorized issue of $50,000,000 preferred, of which $9,354,400 was in the treasury on
Feb. 1 1906, but has since all been issued to pay for stock of
cable, telephone and telegraph companies. The company
now owns the whole or part of the capital stock of more than
75 of such corporations. Of the $50,000,000 common stock,
$41,380,000 is outstanding, no common stock having been
issued during the past two years.— V. 83, p. 821.
Mesaba Steamship Co.— Bonds Offered.— See Chicago Nav­
igation Co. above.— V. 83, p. 497, 894.
Monongahela River Consolidated Coal & Coke Co.— Report.
— See “ Annual Reports” on a preceding page.
New Directors.— David B. Oliver, J. Dennison Lyon and
D. Leet Wilson have been elected directors, succeeding W . R.
Woodford, M. H. Taylor and R. H . Boggs.— V. 84, p. 106.
Niagara Falls Power Co.— New Debentures.— Shareholders
of record Jan. 12 are offered the privilege of subscribing at
90 on or before Jan. 31 for a new issue, Series C, of Canadiancollateral 6 % debentures to the amount of $1,500,000 (total
issue limited to $5,000,000), dated Nov. 1 1906 and due
Nov. 1 1914, but subject to call Oct. 1 1911. Subscrip­
tions are payable 50% March 4 1907and 50% June 4 1907,
or optionally in full March 4.— V. 83, p. 159.
Nipissing Mines Co.— New Interests in Operating Company.
— The directors of the Nipissing Mining Co., Limited, the
operating company of the Nipissing Mines Co., on Wednes­
day elected Samuel Newhouse President and a director to
succeed Captain De Lamar, who resigned. The board was
enlarged by the addition of Lyman B. Kendall of Eugene
Meyer Jr. & Co., New York, and W . B. Thompson of
Hayden, Stone & Co.. Boston and New York. Mr. Meyer
is quoted:
W e regard th e p r o p e r t y as h a v in g g re a t p o ssib ilitie s b u t it w ill tak e
tim e t o d e v e lo p th e m .
W e d o n o t lo o k fo r v e r y g re a t p r o d u c t io n o r large
e arn in gs in th e im m e d ia te fu t u r e .— V . 8 3 , p . 1595.

North American Portland Cement Co.— Status of Con­
trolling Companies.— The “ Philadelphia Financial Bulletin”
of Dec. 5 has the following (compare V . 83, p. 1416):
T h e six c e m e n t c o m p a n ie s w h ic h h a v e u n ite d in fo rm in g th e $ 1 0 ,0 0 0 ,0 0 0
■N orth A m e r ic a n P o r tla n d C em en t C o . p r o d u c e o v e r 2 5 ,0 0 0 ,0 0 0 b a rrels o f
c e m e n t p er a n n u m , o r n ea rly 7 0 % o f th e to ta l a n n u al p r o d u c t io n o f P o r t ­
la n d c e m e n t in th is c o u n t r y .
T h e c o m p a n ie s in v o lv e d are th e A tla s and
L a w r e n c e c o m p a n ie s o f N o r t h a m p to n C o u n ty ; th e A m e rica n a n d L e h ig h
c o m p a n ie s o f Letilgli C o u n ty , a n d th e V u lc a n ite a n d A lp h a c o m p a n ie s o f
N ew J ersey.
T h e ca p ita liz a tio n (In clu d in g b o n d s as w ell as sto ck s ) an d th e a vera ge
a n n u al p r o d u c t io n o f th ese c o m p a n ie s , b ased o n figu res fu rn ish e d r e c e n tly ,
fo llo w :
C om p a n y.
C a p ita liza tion . B a rrels, yea rly.
1 2 ,0 0 0 ,0 0 0
A tla s (V . 8 2 , p . 1 3 2 4 )_______________________ $ 1 5 ,0 0 0 ,0 0 0
L e h ig h ________________ ______ _____________________
4 ,0 0 0 ,0 0 0
5 ,0 0 0 ,0 0 0
A lp h a (see sep a ra te sta te m e n t b e l o w ) ...............
2 ,0 0 0 ,0 0 0
4 ,0 0 0 ,0 0 0
A m e r ic a n (V . 83, p . 1 1 0 0 )--------------------------------2 ,9 2 5 ,0 0 0
1 ,5 0 0 ,0 0 0
V u lc a n ite (see sep arate s ta tem en t b e l o w ) ____
1 ,5 0 0 ,0 0 0
1,5 0 0 ,0 0 0
L a w re n ce ( V . 7 9 , p . 2 7 9 9 )_______ _____________
1 ,0 0 0 ,0 0 0
1 ,0 0 0 ,0 0 0
T o t a l .......................................................... ............. .. $ 2 5 , 4 2 5 , 0 0 0
2 5 ,0 0 0 ,0 0 0
T h e to ta l p r o d u c tio n o f P o rtla n d ce m e n t In th e U n ited S tates in 1905
w as 3 5 ,2 4 0 ,0 0 0 b arrels, o f w h ich th e a foresa id six co m p a n ie s p r o d u ce d
a b o u t 2 5 ,0 0 0 ,0 0 0 barrels.
T h is y ea r th e to ta l p r o d u c tio n o f th e c o u n tr y
w ill p r o b a b ly ag g reg a te betw een 4 0 ,0 0 0 ,0 0 0 an d 4 5 ,0 0 0 ,0 0 0 barrels, an d
th e In d iv id u a l o u tp u t o f th e six co m p a n ie s n a m ed w ill h a v e Increased p r o ­
p o r tio n a te ly o v e r th e figu res g iv e n .
T h ere are o n ly th ree o th e r co m p a n ie s In th e c o u n tr y w h ich n o w p ro d u c e
o v e r 1 ,0 0 0 ,0 0 0 barrels o f ce m e n t y e a r ly , th ese bein g th e Io la (K an sa s)
C o m p a n y (V . 8 3 , p. 1 3 5 0 ), 2 ,2 5 0 ,0 0 0 barrels; th e W h iteh a ll C o m p a n y
(V . 8 0 , p . 7 1 7 ), 1,1 0 0 ,0 0 0 barrels, an d th e E d is o n C o m p a n y (see t h a t c o m ­
p a n y a b o v e a n d in V . 8 1 , p . (>10), 1 ,2 0 0 ,0 0 0 barrels. T h e C o p la y and
D e x te r (V . 8 0 , p . 2461) com p a n ies p ro d u c e a b o u t 900 ,0 0 0 barrels each .
O ne c o m p a n y , th e U n iv ersal P o rtla n d C em en t C o ., w h ich is o w n e d b y
th e U n ited S tates Steel C o rp o ra tio n (see U n iv ersa l C o m p a n y b e lo w ), n ow
p ro d u ce s a b o u t 8 0 0 .0 0 0 barrels p er a n n u m , bu t w h en its n ew p la n ts, n ow
b u ild in g a t P ittsb u rg h a n d B u ffin g to n , 111., are In o p e r a tio n , it w ill loom
u p as th e se co n d o r th ird largest p ro d u ce r .w ith an e stim a ted o u tp u t o f o v e r

terly dividend of 1J^%, the same amount as paid last
October. The rate prior to the suspension last July on ac­
count of the earthquake was 7 % per annum.
Earnings, cfee.— See Pacific Telephone & Telegraph Co.
below.— V. 84, p. 54.
Pacific (Bell) Telephone & Telegraph Co.— Bonds Offered.—
N. W . Halsey & Co., New York, Chicago, Philadelphia and
San Franc:sco, are offering at 102% and interest $3,000,000
“ first mortgage and collateral trust” 5 % sinking fund 30year gold bonds of $1,000 each (c.* & r.), dated Jan. 2 1907
and due Jan. 2 1937, but subject to call at 110 Jan. 2 1922 or
on any interest date thereafter. Interest payable Jan. 2
and July 2 at the Mercantile Trust Co. of San Francisco,
trustee, or United States Mortgage & Trust Co., New York.
Abstract o f L etter from P resid en t H en ry T . Scott, San F r a n cis c o , J a n . 4 1 9 0 7 .
O rganization.— T h is co m p a n y w as org a n ized (D e c. 31 1 9 0 0 .— -Ed.) u n d er
th e la w s o f C a liforn ia w ith an a u th o riz e d c a p ita l o f $ 5 0 ,0 0 0 ,0 0 0 , d iv id e d
Into $ 3 2 ,0 0 0 ,0 0 0 p referred a n d $ 1 8 ,0 0 0 ,0 0 0 c o m m o n s t o c k (p a r o f sh ares,
$100 e a c h .— E d .) .
O f th is a m o u n t, it is p r o p o s e d t o issu e a t p resen t $ 1 8 ,000 ,000 c o m m o n a n d $ 1 8 ,0 0 0 ,0 0 0 p referred s to c k , o f w h ic h $ 1 7 ,0 0 0 ,0 0 0
c o m m o n a n d $ 1 7 ,0 0 0 ,0 0 0 p referred is t o b e issu ed in e x ch a n g e fo r th e o u t­
sta n d in g s to c k o f th e P a cilic S ta tes T e le p h o n e & T e le g ra p h C o. (V . 83, p .
141G), an d $ 1 ,0 0 0 ,0 0 0 c o m m o n an d $ 1 ,0 0 0 ,0 0 0 p referred s to c k issu ed fo r
a d d itio n a l w o rk in g ca p ita l. T h is w ill le a v e a b a la n ce o f $ 1 4 ,0 0 0 ,0 0 0 p re ­
ferred s to ck un issu ed in th e trea su ry . T h e c o m p a n y o w n s th e en tire p la n t
an d real esta te fo rm e r ly b e lo n g in g to th e P a cilic S tates T e le p h o n e & T e le ­
gra p h Co. in th e c ity a n d c o u n ty o f San F ra n cisco . It also ow n s a m a jo r it y
o f th e ca p ita l s to ck o f th a t c o m p a n y , a n d e x p e c ts t o a cq u ire th e b a la n ce
ou ts ta n d in g th ro u g h th e issu an ce o f its preferred a n d c o m m o n shares r e ­
served foV th a t p u rp ose. T h e c o m p a n y is o p e ra tin g u n d er lease th e p r o p ­
erties o f th e P a cific S tates T e le p h o n e & T e le g ra p h C o. in W a sh in g to n a n d
O regon , a n d th e p rop erties o f th e Su n set T e le p h o n e & T e le g ra p h C o. in
C a liforn ia a n d W a sh in g to n .
B on d s.— T h e c o m p a n y has a t o ta l a u th o rize d issue o f $ 3 5 ,0 0 0 ,0 0 0 “ first
m o rtg a g e an d colla tera l t r u s t ” 5 % g o ld b o n d s , o f w h ic h th ere are t o be
Issued t o p r o v id e fo r present req u irem en ts $ 1 0 ,0 0 0 ,0 0 0 .
T h e p ro ce e d s of
th is Issue o f $ 1 0 ,0 0 0 , 0 0 0 w ill b e used fo r th e r e c o n s tru ctio n a n d e x te n s io n of
to ll lines an d th e gen eral re co n s tru ctio n o f e x ch a n g e p la n ts, an d t o re im ­
bu rse th e c o m p a n y fo r ex p en d itu res a lre a d y m a d e fo r th ese p u rp o se s. T h e
Im p rov em en ts an d e x ten sion s referred to in clu d e th e en la rg em en t an d
b etterm en t o f e x ch a n g e p la n t s , in clu d in g u n d e rg ro u n d co n d u its , u n d e r­
g ro u n d ca b les, an d im p ro v e d sw itch b o a rd s, a t th e fo llo w in g e x ch a n g e s:
San F ra n cis c o , O a k la n d , Los A n g eles, S ea ttle, P o r tla n d , T a ­
c o m a , S p o k a n e , San D ie g o , S a n ta B a rb a ra , R iv e rs id e , B a k ers­
field , P a sa d en a , F re sn o , S t o c k t o n , S a cra m e n to , E u rek a , W a lla
W a lla , E v e re tt, B ellin g h a m , B a k er C ity , R e n o , San J ose an d
s ix ty -t w o sm aller e x ch a n g e s.
T h e tru st d eed p ro v id e s th a t o f th e rem a in in g $ 2 5 ,0 0 0 ,0 0 0 b o n d s, $ 2 2 ,0 00 ,000 shall be Issuable o n ly t o c o v e r a ctu a l e x p e n d itu re s o n p la n t an d
im p ro v e m e n ts, b u t at n o tim e shall th e a m o u n t o f b o n d s issued e x c e e d an
a m o u n t equ a l t o 8 5 % o f su ch e x p e n d itu re s, n or shall th e y be issu ed t o p r o ­
v id e fo r repairs. T h e resid u e o f $ 3 ,0 0 0 ,0 0 0 b o n d s are reserv ed t o p r o v id e
fo r th e re d e m p tio n o f th e en tire p resen t b o n d issues o f th e Sun set T e le ­
p h on e & T e le g ra p h C o .. con sistin g o f $ 7 5 0 ,0 0 0 first m o rtg a g e 6 % b o n d s ,
d ue J u ly 1 1913, an d $ 2 ,2 5 0 ,0 0 0 co n s o lid a td m o r tg a g e 5 % b o n d s, d u e
O ct. 1 192 9, red eem a b le a t 105 o n O ct. 1 1913 o r a n y in te re s t d a te th e re ­
a fte r.
T h e new b o n d s are an a b so lu te first m o rtg a g e on th e e n tire p la n t an d
real esta te o f th e c o m p a n y in th e c it y an d c o u n ty o f San F r a n cis c o .
It is
a lso a first lien (th ro u g h th e d e p o sit o f all o f th e a cq u ire d c a p ita l s to c k an d
b y lease) u p o n th e rem a in in g p r o p e r ty w h ich has been o p e ra te d b y th e
P a cific S ta tes T e le p h o n e & T e le g ra p h C o ., in clu d in g p r a c tic a lly th e en tire
Bell te le p h o n e sy stem in th e S ta te o f O reg on a n d th e ea stern h a lf o f th e
S ta te o f W a sh in g to n .
It is also a co lla te ra l a n d refu n d in g lie n o n all o f th e
issued ca p ita l s to ck o f th e Su n set T e le p h o n e & T e le g ra p h C o ., s u b je c t o n ly
t o th e o u ts ta n d in g b o n d s o f th a t c o m p a n y .
T h e a b o v e co m p a n ie s o w n a
large a m o u n t o f v a lu a b le real e sta te an d rig h ts o f w a y o v e r p r iv a te p ro p e rt y
also fra n ch ises in p ra ctica lly all th e la rg e e x ch a n g e s In w h ich th e y o p e ra te ,
and In o v e r 100 sm aller ex ch a n g e s.
In clu d in g th e p ro ce e d s o f th e sale o f
th e $ 1 0 ,0 0 0 ,0 0 0 b o n d s, an d d e d u ctin g $ 1 ,5 0 0 ,0 0 0 fo r “ lire lo s s " in San F r a n ­
c is c o , b u t n o t in clu d in g fra n ch ises a n d g o o d -w ill, th e t o ta l cash In vested in
th e p rop erties o f th e new c o m p a n y w ill b e $ 3 8 ,7 9 6 ,0 0 0 .
T h e tru st d eed p ro v id e s fo r a sin k in g fu n d , t o beg in a t th e e x p ir a tio n of
th e fifth y e a r .after th e issu a n ce o f th e b o n d s , o f an a m o u n t equ a l t o % % of
th e a m o u n t o f b o n d s ou tsta n d in g , w h ich m u st b e ,in v e s te d in th ese b o n d s
if th e y ca n b e b o u g h t in th e o p e n m a rk et at 1 1 0 o r lo w e r; b o n d s p u rch a sed
t o rem ain a liv e in th e sin kin g fu n d an d th e a ccru e d in terest th e re o n t o b e
a d d e d t o th e a m o u n t o f th e sin k in g fu n d . T h is sin kin g fu n d is c a lcu la te d
t o be su fficie n t t o retire 3 0 % o f th e issue a t m a tu r ity .
Statem ent o f E a rn in g s o f the Com bined C om p a n ies (D ecem b er 1906 P a r tly
E stim ated.)
1904.
1905.
1906.
1907 (es«.)
$ 7 ,8 8 4 ,0 7 1
$ 7 ,7 2 5 ,6 2 4
$ 8 ,5 0 0 ,0 0 0
G ross re v e n u e ____________ $ 6 ,8 2 4 ,5 0 6
O p e ra tin g e x p e n s e s , in ­
clu d in g m a ln t. & t a x e s . 4 ,9 7 7 ,9 8 4
5 ,9 6 6 ,1 0 1
6 ,0 7 7 ,5 9 4
6 ,4 0 0 ,0 0 0
$ 1 ,8 4 6 ,5 2 2
157,500

$ 1 ,9 1 7 ,9 6 9
157,500

$ 1 ,6 4 8 ,0 3 0
157 ,500

$ 2 ,1 0 0 ,0 0 0
*6 5 7 ,5 0 0

N e t r e v e n u e a v a ila b le
fo r d iv id e n d s ________ $ 1 ,6 8 9 ,0 2 2

$ 1 ,7 6 0 ,4 6 9

$ 1 ,4 9 0 ,5 3 0

$ 1 ,4 4 2 ,5 0 0

In te r, o n b o n d e d d e b t - .

*
In th is a m o u n t is in clu d e d th e e n tire y e a r ’s Interest o n th e $ 1 0 ,0 0 0 ,0 0 0
b o n d s n o w p r o p o s e d t o b e issu ed, a lt h o u g h it is n o t e x p e c t e d t h a t th e en tire
a m o u n t w ill be issu ed d u r in g th is y e a r.
T h e loss o f “ n e t r e v e n u e ’ ’ in 190 6, c o m p a r e d w ith 1905, is d u e t o c o n d i­
tio n s In cid e n t t o th e fire o f last A p ril.
B e fo r e th e fire, th e P a cific S ta te s
T e le p h o n e & T e le g r a p h C o. had in San F ra n cis c o o v e r 5 2 ,000 su b scrib e rs.
A f t e r th e (ire. It b e g a n business w ith 2,5 0 0 s u b scrib e rs. T h e to ta l n u m b e r
o f su b scrib e rs in San F ra n cis c o D e c. 20 w as o v e r 2 2 ,0 0 0 a n d s te a d ily g r o w ­
in g .
A n a n n u a l a p p ro p r ia tio n is m a d e fro m earn in gs an d ch a r g e d t o o p e r a tin g
e x p e n se s e qu a l t o 1 0 % o f th e v a lu e o f th e p r o p e r t y , w h ic h a m o u n t is p la ce d
t o th e c r e d it o f m a in te n a n ce a n d r e c o n s tru ctio n a c c o u n t .
A c t u a l e x p e n d i­
tures fo r m a in te n a n c e an d r e c o n s tr u c tio n d u r in g th e th re e y ea rs e n d in g
D e c. 31 190 6, in c lu d e d in o p e r a tin g e x p e n se s, a m o u n te d t o $ 7 ,7 3 4 ,8 2 3 ,
w h ich is e q u a l t o 34 H % o f th e gross earn in gs fo r t h is p e r io d .

Dividend Declared by Old Com pany.— See Pacific States
Telephone & Telegraph Co. above.— V. 84, p. 54.
Pennsylvania Steel Co.— Consolidation Rum ors.— Reports
which are generally believed to have a foundation in fact
are current that plans for consolidation with the Cambria
Steel Co. have been under consideration: but how far the
negotiations, if any, have progressed, has not been made
public.— V. 82, p. 1100.
Pittsburgh-Buffalo Company, Pittsburgh, Pa.— Retire­
ment of Bonds.— Touching the recent reduction in the bonded
debt, the following is of interest:

Omaha (Neb.) Gas Co.— Bonds Offered— Earnings.— Wil­
son, Colston & Co., Baltimore, who are offering for sale a
block of the first consolidated mortgage 5 % gold bonds,
dated Aug. 13 1897 and due Aug. 13 1917 (the only prior
lien being $300,000 of 6 % bonds due in 1914), report for
the calendar year 1905: Net earnings, $266,018; bond in­
T h e a c t u a l n u m b e r o f b o n d s o u ts ta n d in g is $ 1 ,3 0 3 ,0 0 0 , a n d $2 0 0 ,0 0 0 are
in th e h an d s o f th e U n io n T ru s t C o . o f P it t s b u r g h , tr u s te e , t o be issued
terest, $114,542; net profits, $151,476. For the year 1901 still
fo r th e p u rch a se o f a d d itio n a l co a l lands o r fo r a d d it io n a l e q u ip m e n t fo r
the net earnings were $185,666 and the fixed charges as re­ la n d s a lr e a d y o w n e d ; $ 1 0 0,00 0 o f th e b o n d s h a d been re d e e m e d a n d c a n ­
c e lle d p r e v io u s t o th e sale o f th e 4,000 a crcs o f co a l ia n d s t o th e V e s ta C oal
ported in June 1902 were $107,350.— V. 75, p. 80.
C o . , w h ich is a su b s id ia r y o f th e J on es & L a u gh lin Steel C o ., an d at th e tim e
Pacific Gas & Electric Co., San Francisco.— Reported Deal. o f t h e sale $ 1 ,3 9 7 ,0 0 0 a d d itio n a l o f th e b o n d s w a s p a id an d c a n c e le d .
last w e re b o u g h t b y t h e U n io n T ru s t C o . fo r cash fro m th e J on es
— Negotiations, it is understood, are pending for amalgama­ Tinhtee se
re s ts , w h o p u rch a se d a large n u m b e r fr o m o u ts id e h o ld e rs a t 104 .
tion with the Great Western Power.— V. 83, p. 1229.
C o m p a re V . 8 3 , p . 1595.
Phoenix Consolidated Copper Co.— Assessm ent.— An asPacific States (Bell) Telephone & Telegraph Co.— Divi­
dends Resumed.— The company paid on Jan. 15 a quar­ sessmentof SI 50 per share has been called, payable Jan. 25.




164

THE CHRONICLE.

This makes the stock $13 50 per $25 share paid. Outstand­
ing stock, $2,500,000.— V. 72, p. 441.
Pittsburgh Reduction Co.— New N am e.— The company's
name has been changed, under the laws of Pennsylvania, to
the Aluminum Company of America, taking effect Jan. 1
1907.
T h e ch an ge Is s o le ly o n e o f n a m e , a n d is m a d e in o r d e r t o In d ica te t h e
n atu re o f th e business. T h e ca p ita l s t o c k is still $ 3 ,8 0 0 ,0 0 0 , In shares o f
§100 ea ch a n d th e s to c k h o ld e r s, d ir e cto r s , p o lic y , m a n a g e m e n t, o f fic ia ls ,
& c., rem a in as h ere to fo re . T h e ca p ita l s to c k a t I n c o r p o r a tio n , S e p t. 18
1 88 8, w as $20 ,000 ; it w as increa sed o n O ct. 2 1889 t o 5 1 ,0 0 0 ,0 0 0 , o n A u g . 2
1900 t o $ 1 ,6 0 0 ,0 0 0 , o n F e b . 16 1905 t o $ 3 ,7 3 0 ,0 0 0 , th e to ta l a u t h o r iz e d
b ein g $ 3 ,8 0 0 ,0 0 0 . T h e fu n d e d d e b t w as o n Ja n . 4 1896 a u th o r iz e d t o b e
in crea sed t o $ 2 3 0 ,0 0 0 . T h e ce rtifica te o f ch a n g e o f n a m e w as filed N o v . 12
1906.
T h e c o m p a n y , it is u n d e rs to o d , su p p lies n e a r ly a ll o f th e c o u n t r y ’ s
o u t p u t o f a lu m in u m . C o m p a re V . 8 3 , p . 141 0, 895.

Sierra Madre Land & Lumber Co.— Bonds Offered.—
Mason, Lewis & Co., Boston, Chicago and Philadelphia,
and Geo. D. Cook & Co., New York, are offering at par and
interest by advertisement on another page $1,500,000 of
the authorized issue of $3,000,000 first mortgage gold 6s
of $1,000 each, dated Dec. 1 1905 and maturing $75,000
annually on Dec. 1 from 1911 to 1930, both inclusive, but
after Dec. 1 1915 subject to call at 110 and interest on any
interest day. Interest payable June 1 and Dec. 1 at office
of Knickerbocker Trust Co., New York, trustee. Sinking
fund, $1 50 per $1,000 feet stumpage on all timber cut.
As stated in the following letter, the Cananea Consolidated
Copper Co. has contracted to purchase for a term of 25 years,
at current prices, a minimum of $1,000,000 worth of lumber
yearly, yielding, it is estimated, a profit of $400,000 per
annum to the lumber company, “ which alone would more
than provide for the entire annual interest charge of $180,000,
and the retirement of $150,000 bonds per annum.” The
Greene Consolidated Copper Co., controlling the Cananea
Consolidated Co., is being merged in the Cananea Central,
and both will be controlled by the Greene-Cole-Ryan
interests, among the largest copper-mine owners in the
United States. (V. 83, p. 1526, 1593.) A lumber expert,
who has examined about 500 square miles of the timber,
states that this will average 11,000 feet per acre of good
yellow pine, Jfree from defects, worth at least $3
per 1,000 feet, and that he is satisfied that the tract contains
"“ at least 1,200 square miles of timber, all told, equally as
valuable.”
A bstract o f L etter from P resid en t W . C . G reene, D ec. 28 1906.
T h e c o r p o r a tio n is o rg a n iz e d u n d e r th e la w s o f C o n n e c tic u t.
C apital
s t o c k , $ 1 5 ,0 0 0 ,0 0 0 , o f w h ic h 5 1 % is o w n e d b y th e G reen e C o n s o lid a te d
C op p er C o.
B o n d issu e, $ 3 ,0 0 0 ,0 0 0 .
T h e p r o p e r t y co n sists o f 2 ,3 1 5 ,0 0 0
acres o f rich pin e tim b e r lan ds in th e S tates o f C h ih u ah u a a n d S o n o r a ,
M e x ico , a t r a c t a lm ost as g reat as th e S ta te o f C o n n e c tic u t.
The am ount
o f sta n d in g p in e, w h ic h , in c h a r a c te r , is m id w a y b e tw e e n a w h ite p in e an d
a y e llo w p in e, is a lm o s t b e y o n d c o m p u t a t io n .
A t 8 ,0 0 0 fe e t p er a c r e as
a lo w a v era g e, th ere are 1 8 ,0 0 0 ,0 0 0 ,0 0 0 fe e t o f lu m b e r in th e t r a c t.
A
r a ilroa d has been b u ilt t o th e m ills fro m T e m o s a c h lc , m a k in g a c o n n e c t io n
w ith th e C h ih u ah u a & P a cific a n d M e x ica n C en tral r a ilw a y s, t h e r e b y b r in g ­
in g th e p r o p e r ty in c lo s e t o u c h w ith th e m a rk e ts.
S a w -m ills, h a v in g a
c a p a c it y o f 500 ,0 0 0 feet o f lu m b e r p er d a y , are n o w u n d e r c o n s t r u c tio n .
T h e cu ttin g a n d m a rk e tin g o f th e tim b e r w ill be In a c t iv e o p e r a tio n a b o u t
J a n . 1 1907.
I e stim a te th e ann u al o u t p u t fo llo w in g Jan . 11907 as a t
least 1 0 0 ,0 0 0 ,0 0 0 feet p er a n n u m .
T h e re Is a r e a d y m a rk e t fo r all th is lu m b e r a t fro m $25 t o $30 g o ld per
1,000 f t . w ith th e M ex ica n cities an d th e e n o rm o u s c o p p e r an d o th e r m in in g
e n terp rises in th is v ic in it y , a la rg e part o f th e lu m b e r t o s u p p ly w h ic h is
tr a n s p o r te d fro m O reg on a n d W a s h in g to n at a c o s t o f fro m $25 t o $35 per
1 ,0 0 0 .
A s C h ihu ahua a n d S o n o r a b o rd e r on th e U n ited S ta te s ,a n d as there
is o n ly 80 ce n ts p er 1,000 d u t y o n m in in g tim b e r , th e re w ill b e a large
d e m a n d fro m th e U n ite d S tates fo r a n y surplus p r o d u c t.
T h e c o m p a n y has m a d e an a d v a n ta g e o u s c o n tr a c t w ith th e p ro p e rtie s
o w n e d b y th e G reen e C o n s o lid a te d C o p p e r C o ., u n d e r w h ic h th e C a n a n e a
p ro p e rtie s ta k e fo r a te rm o f 25 y e a rs , a t cu rre n t p rice s , a m in im u m o f
$ 1 ,0 0 0 ,0 0 0 g o ld w o rth o f lu m b e r p er a n n u m fo r use in th e d e v e lo p m e n t o f
th eir m in es.
A llo w in g fo r th e exp e n se s o f cu ttin g a n d m a r k e tin g , I e s ti­
m a te th a t this single c o n tr a c t w ill n e t $ 4 0 0,00 0 g o ld p r o fit per a n n u m to
th e lu m b e r c o m p a n y .
T ills a lo n e w ill m o re th a n p r o v id e fo r th e a n n u a !
Interest ch a rg e o f $ 1 8 0,00 0 a n d th e re tire m e n t o f $ 1 5 0,00 0 b o n d s p e r
a n n u m , w h ic h b o n d p a y m e n ts b e g in Jan . 1 1911.
I th in k It c o n s e r v a tiv e
t o sta te th a t w e w ill d o a lu m b e r business o f $ 3 ,0 0 0 ,0 0 0 g o ld p e r a n n u m ,
anrl sh ou ld h a ve n et earnings o f at least $ 1 ,2 0 0 ,0 0 0 g o ld per a n n u m
N ew Y o r k o ffic e , 24 B ro a d S t. T re a su re r, E . J. G ates; S e cre ta ry J. H .
M a rtin . S ee also V . 83, p . 4 9 6 , 1095.

United Gas Improvement Co.— Reported Acquisition.— See
Northern Indiana R y ., also Evansville & Southern Indiana
Traction Co., under “ Railroads.” — V. 84, p. 107.
Sunset (Bell) Telephone & Telegraph Co.— Lease— New
Bonds Reserved to Retire Old Bonded Debt.— See Pacific Tele­
phone & Telegraph Co. above.— V. 79, p. 737.
United Box Board & Paper Co.— Suit by Protective Com­
mittee.— John W . Griggs, formerly United States District
Attorney, representing the committee of the objecting stock­
holders, on Jan. 14 filed a bill in the Chancery Court of New
Jersey, asking for an injunction to restrain the directors
from carrying out the plan recently announced under which
the equity in the American Strawboard stock is to be sold
to the new American Box Board Co. Vice-Chancellor Emery
at Newark has granted a preliminary stay, returnable Jan.
22. Sidney Mitchell, Chairman of the committee, is quoted
as saying that he would vote between 80 and 9 0% of the
stock at the annual meeting on Feb. 21 in opposition to the
management.— V. 84, p. 107, 54.
Universal Portland Cement Co.— Status.— This company,
incorporated in Indiana last July with $1,000,000 of author­
ized capital stock as a subsidiary of the United States Steel
Corporation, has taken over the property and business of
the cement department of the Illinois Steel Co. and the other
cement plants of the Steel Corporation. The new company
will continue the manufacture of Universal Portland Cement
and an extension is being built to its present plant at Buffing­
ton, Ind. A new plant is also being built in the Pittsburgh
district, which will be operated by this company. The new
plants will be in operation by the summer of 1907, and will
increase the output from 6,500 barrels per day to about




[V o l.

l x x x iv .

17,000 barrels. E. M. Hagar, who for’the last six years has
been manager of the cement department of the Illinois Steel
Co., is President of the new company, with offices at The
Rookery, Chicago, 111.
Virginia & Rainy Lake Co.— Guaranteed Bonds.— See Du­
luth Rainy Lake & Winnipeg Ry. under “ Railroads” above.
- -V . 81, p. 619.
Vulcanite ^Portland Cement Co., Philadelphia.— Status.—
This company, mentioned above under heading North
American Portland Cement Co., has an authorized capital
stock of $1,500,000, issued and paid for in cash. No
bonded or other indebtedness beyond current bills payable.
Capacity of mills, 1,500,000 barrels per annum. The stock
is very closely held by a few stockholders. President, John
B. Lowber; Vice-Pres., Geo. W . Elkins; Sec. and Treas.,
W . D. Lober. Office, Land Title Building, Philadelphia.
— Under the name of Hincks Bros. & Co., a new banking
firm has been formed in Connecticut to engage in a general
bond business with securities designed wholly for the Con­
necticut market. While a general banking business will be
conducted, the firm will particularly devote its attention to
bonds, stocks and commercial paper. Commodious offices
have been leased by it on the ground floor of the Court Ex­
change Building, at 207 State Street, Bridgeport. Robert
S. Hincks, one of the partners in the new concern, has for
the past ten years been with Estabrook & Co. of Boston and
New York, and for the past eight years has represented that
firm in Connecticut. He is a director of the Bridgeport Na­
tional Bank. William T. Hincks has been with A. W . Paige,
of Paige & Hincks, as counsel and in the active management
of the Connecticut Railway & Lighting Co. He is a trustee
of the City Savings Bank of Bridgeport. The New York
correspondents of Hincks Bros. & Co. will be Kissel, Kinnicutt & Co.
— The Western Electric Co. of Chicago is issuing an at­
tractive pamphlet descriptive of its new plant at Hawthorne,
111., which is known as the “ Hawthorne Works.” The com­
pany in the past has confined itself mainly to the manufacture
of telephone apparatus, &c., but with the completion of
these new works it is now in a position to build electric power
apparatus and switchboards for street railway service.
The pamphlet contains several interesting little articles on
“ Perfect Fire Protection” and the idea of “ Storing Coal
Under Water.” The pamphlet is handsomely gotten up
and printed in large clear type, and is plentifully illustrated
— A comprehensive booklet, in which the desirability of
New York City bonds as an investment figures as the sub­
ject, has been issued by the National City Bank of New York.
It undertakes to show the superiority of the city’s municipal
securities, which, it states, in coming nearest meeting the
double requirement of security and market ability, are thus
filling the place that is being so rapidly left vacant by the
withdrawal of United States Government bonds from the
individual investment field. Numerous tables are intro­
duced. The booklet is being distributed gratuitously to
all sufficiently interested to apply for it.
— Russell, Brewster & Co., bankers and brokers of Chi­
cago and New York, are sending out to their trade a Dividend
Record for 1906, with range of prices and table showing
yield per cent, of about 100 principal railway and industrial
stocks. Not only the rate of dividends is given, but the time
for opening and closing of books each quarter and date of
payment are recorded, and the range of prices for the two
years 1905 and 1906. Altogether it is a very useful and con­
venient record for those interested.
— Among the calendars issued for use the new year, which
for attractiveness are deserving of mention, are those is­
sued by E. H. Gay & Co. of New York, Boston, Philadel­
phia and Montreal, and’ Harry B. Powell & Co., dealers in
investment securities, of Woodstock, Vt. Messrs. Gay &
Co. have utilized for their calendar a Gainsborough subject,
while Sidney Watson’s painting “ Among the Heather” is the
sujbect of the calendar issued by Messrs. Powell & Co.
— The firm of Clark, Grannis & Lawrence of this city was
dissolved on the 17th inst. A new copartnership has been
formed under the name of Grannis & Lawrence for the trans­
action of a stock and bond business at the old addresses, 10
Wall Street, 189 Montague Street, Brooklyn, and 24 Ex­
change Place, Boston. -The partners are Arthur E. Grannis,
member of the New York Stock Exchange; Robert C. Law­
rence and William C. Langley, special.
— Wm . A. Read & Co., New York and Chicago, associated
with the Illinois Trust & Savings Bank, Chicago, are offering
to conservative investors the unsold portion of $2,000,000
Philippine Government, City of Manila, sewer and water­
works construction 4% registered gold bonds, due Jan. 2
1937. These bonds are tax free throughout the United
States.
— Walter H . Trumbull, well known from his many years’
association with the Boston house of E. H. Gay & Co., of
which firm he was a member for five years, has lately or­
ganized the firm of W . H. Trumbull & Co., Monks Building,
35 Congress St., Boston. The new concern will deal in
high-^rade bonds and investment securities.
— Graham & Co., bankers, Philadelphia, announce the
admission of E. H. Butler to membership in their firm.

J a n . 19 1907. j

THE CHRONICLE.

g lte © x rm m m ia l ^inues.
COM M ERCIAL EPITO M E .
Friday Night, Jan. 18, 1907.
Although car shortage is still an obstacle, especially in the
Northwest, and labor none too plentiful, trade continues
active. Prices of the great staples have been generally
about steady. Speculation is still dormant.
LARD on the spot has been stronger, owing to a further
rise in the market for futures at the West, light offerings and
a somewhat better demand, partly for export. City is
quoted at 9 .1 5 @ 9 .25c. and Western 9.60c. Refined lard
has also shown an upward tendency, owing to the strength
of other provisions, though trade has continued dull. Small
sales have latterly been made at 9.95c. for refined Continent,
10.75c. for South America and 11.75c. for Brazil in kegs.
The market for futures at the West has been strong in the
main, though some irregularity has been noticeable at times.
This, however, has been due mainly to realizing of profits.
The receipts of live hogs have continued small, packers have
given support and there has been considerable commission
licfase buying.
D A I L Y C L O S IN G P R I C E S O F L A R D F U T U R E S IN C H IC A G O .
S a t.
M on.
T u es.
W ed.
T h urs.
F ri.
J a n u a r y d e liv e r y ............ . 9 . 2 0
9 .4 0
9.3 7 34
9.30
9.35
9.25
M a y d e liv e r y
............... -9 .4 2 34 9 .5 7 34 9.55
9 .5 0
9.55
9.42 H
9.5 5
9.5734
9.4734
J u ly d e l i v e r y ------------------- 9.4734 9.623-3 9.6 0

PORK on the spot has been steady with trade less active.
Export buying for shipment to the West Indies has been re­
stricted as a result of the Jamaica earthquake. Mess is
quoted at $17 50@ $18, clear $18@$19 and family $18 5 0 @
$19. Cut meats have been irregular but the changes have
been slight as a rule. Pickled shoulders 8 @ 8 }4 c ., pickled
hams H 3^ @ 12c. and pickled bellies, 14@10 lbs., 1 0 3 4 @ llc .
Tallow has been quiet and steady; Cit3r 6% @ 6J ^ c. Stearines have been fairly active and firm; oleo l l % c . and lard
lOJ^c. Butter has been easier with larger supplies; cream­
ery, extras, 29c. Cheese has been fairly active and steady;
■State factory 1 4 ^ c . Eggs have been more active and firmer;
Western firsts, 29c.
O IL .— Cottonseed has advanced, owing to active cover­
ing of shorts and manipulation. Prime summer yellow
45@ 46c. Linseed lias ruled quiet and steady; City, raw,
American seed, 42@ 43c.; boiled 43@ 44c.; Calcutta, raw,
70c. Lard has been in light demand but firm in the main,
■owing to the strength of the lard market. Prime is quoted
at 77@ 79c. Olive has advanced with offerings light and the
demand more active. Yellow 70@ 75c. and green 60@ 62c.
Cocoanut has been less active bu.t steady; Cochin 9 % @ 1 0 c .
and Ceylon 9 ^ @ 9 J ^ c . Peanut has been quiet and steady;
yellow 50@60c. Cod has been firm and rather more active;
domestic 36@ 37c. and Newfoundland 38@40c.
COFFEE on the spot has been dull and steady. Rio No.
7, GJ^c. and Santos No. 4, 7% c. West India growths have
been quiet; fair to good, Cucuta 8 J ^ @ 9 ^ c . The market for
future contracts declined early in the week, owing to unex­
pectedly weak cables'from Europe, especially from Havre;
heavy foreign selling, liquidation by tired local longs, Wall
Street selling and pressure from room traders who were en­
couraged to sell for a decline by the continued large receipts
and the dulness of the spot trade. Of late there has been
some recovery, owing to covering of shorts and more or less
new buying by roasters and leading local operators, but
in the main sentiment in the trade is still bearish.
The closing prices were as follows:
J a n u a r y ---------------5 .2 5 c . I M a y _______________ 5 .5 0 c .
F e b r u a r y -------------0 .3 0 c . J u n e _______________ 5 .5 5 c .
M a r c h ............... ......5 .3 5 c . I J u l y ______________ 5 .6 0 c .
5 .4 0 c . |A u g u s t ___________ 5 .7 0 c .
A p r il ...............—

I S e p te m b e r ______ 5 .7 5 c.
I O c t o b e r ___________ 5 .8 5 c .
I N o v e m b e r _______ 5 .9 0 c .
I D e c e m b e r ________ 5 .9 5 c .

165

COTTON.
Friday Night
anuary 18 1907.
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
339,479 bales, against 312,936 bales last week and 311,945
bales the previous week, making the total receipts since
the 1st of September 1906, 6,722,403 bales, against 5,499,755
bales for the same period of 1905-6, showing an increase
since Sept. 1 1906 of 1,222,648 bales.
R eceip ts at—

S a t.

G a lv e s to n _ _ ___ 23,945
P o r t A r t h u r ____
C o r p u s C h r is ti, &c
10,814
N ew O rle a n s ____
1,806
M o b ile ______
P e n s a c o l a _______
265
J a c k s o n v ille , & c.
S a v a n n a h _______
4,2 9 3
B r u n s w i c k ______
C n a r le s t o n ___ __
706
G e o r g e t o w n ____
W i l m i n g t o n ____
1,349
N o r f o l k __________
1,450
N e w p o r t N ew s, <5cc
___
N ew Y o r k
'3 0 0
B o s t o n _____
631
B a lt im o r e _______
P h ila d e lp h ia ____
’ 251
T o t a ls th is w k

45,8 1 0

M on.

T u es.

W ed.

25,027
____
____
23,015
1,940
16,209

30,794

20,185
_ .
13,070
1,385
____
____
6,353

2,576
2,873
____

.
16,937
1,939
____
_
6,273
_
666
65
3,361
2,842
____

9,342
255

T h urs.

54
52 662

46,871 3 39 ,479

2 658

268
____
2,3 4 6
4,981
____

"388

"649

-------

81

316
____
-------

81,625

63,607

49,904

T otal.

F r i.

11,176 131 ,592
8,1 0 9
978
978
5 ,7 4 6 8 3 ,8 9 4
9 ,5 3 4
566
____
16,209
587
322
6,776 3 5 ,6 9 5
8,4 8 7
8,487
2,7 3 1
606
____
65
1,020 1 1,8 0 5
3,741 17,737
5,369
5,369
34
334
4 ,6 1 0
693
1 ,2 8 6
1,286
• 71
457

20 465
8 109
___
14 312
1 898
___

230
_
l" 153
1 850
___
__
l ‘ 933

The following shows the week’s total receipts, the total
since Sept. 1 1906, and the stocks to-night, compared with
last year:
190 5-0 6.

190 6-0 7.
R eceip ts to
J a n . 18.

T h is
w eek.

S in ce S ep
1 1906.

S in ce S ep
1 1905.

47,657 1 ,838,672
83,419
3,428
27,713
570
974 ,2 4 4
40,002
4,168
182,048
103,174
12,166
10,807
14,401 1,121,522
2,468
136,129
1,566
146 ,403
15
619
3,410
2 74,902
4,5 7 7
489 ,362
275
12,648
1 ,939
46,894
945
3,026
45,663
125
3,567

S to ck .
1907.

« 1906.

4 0 5 ,6 5 8

1 3 8 ,4 9 3

401 ,0 6 0
53,473

3 3 3 ,3 2 2
39,2 4 7

172,856
15,795
14,182

9 0 ,8 0 7
17,616
36,437

11,935
47,085
6,094
147 ,198
8,715
6,7 7 0
2,385

’ 7",495
4 4 ,6 6 4
218,521
4 ,7 4 0
1 1,749
4,401

339,479 6 ,7 2 2 ,4 0 3 138,799 5 ,4 9 9 ,7 5 5 1 ,2 9 3 ,2 0 6

9 4 7 ,4 9 2

G a l v e s t o n . . ___ 131,592 2,5 8 2 ,4 6 7
9 2 ,240
8,109
P o r t A r t h u r ____
28,148
C orp u s C h ris ti,& c
978
N ew O rleans
83,894 1 ,536,020
9,534
196,299
M o b i le ..
-.- -.
P e n s a c o la ________
88,488
16,209
5,448
J a c k s o n v ille , <Scc_
587
Savannah- 35,695 1 ,175,392
B ru n sw ick _ . .
122,681
8,487
121,024
2,731
C h a r le s t o n ____ __
G e o rg e to w n ____
65
1,009
271,951
11,805
W i lm i n g t o n _____
401 ,539
N o r fo lk . _ 17,737
5,369
20,276
N e w p o r tN e w s ,& c
10,794
N ew Y o r k _______
334
33,354
B o s t o n ............. 4,6 1 0
1,286
31,229
B a ltim o re
4,044
457
P h il a d e l p h i a ____
T o t a l ____ -

This
w eek.

In order that comparison may be made with other years,
we give below the totals at leading ports for six seasons:
1906.

1905.

1904.

190 3.

1902.

R eceip ts at—

1907.

G a lv e s to n ,& c.
N ew O rle a n sM o b ile _______
Savannah . _
C h a r le s to n ,& c
W ilm ln g 'n ,& c
N o rfo lk _ _
N ’ p o r t N ., & c
A ll o t h e r s ____

140,679
83,894
9,534
35,695
2,796
11,805
17.737
5,369
31,970

51,655
40,002
4,168
14,401
1,581
3,410
4,577
275
18,730

2 7 ,622
54,081
3,385
14,350
1,520
3,164
8 ,4 0 2
103
9,835

43,511
58,784
2,790
15.970
1,194
4 ,5 7 2
11,195
2,309
22,004

62,995
66,377
8,070
36,011
2,759
4,646
16,535
328
24,560

4 6 ,238
7 0 ,980
2,658
2 7 ,990
4,9 5 9
6 ,6 8 0
13,209
768
19,244

T o t a l this w k -

339 ,479

138,799

122,952

162,279

222,281

1 92 ,726

S in ce S e p t. 1 . 6 ,7 2 2 ,4 0 3 5 ,4 9 9 ,7 5 5 6 ,3 4 4 ,5 3 4 5 ,8 1 6 ,6 9 1 5 ,6 3 4 ,6 5 0 5 ,5 9 1 ,5 7 3
Mil

The exports for the week ending this evening reach a
total of 323,541 bales, of which 156,263 were to Great Britain,
34,589 to France and 132,689 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1906:
Week ending Jan. 18 1907.
Exported to—

From Sept. 1 1906 to Jan. 18 1907.
Exported to—




CO

CO

Cn

SUGAR.— Raw has been dull and without noteworthy
Exports
Conti- i
]rom—
Conti­
Great
Great
change in quotations. Centrifugal, 96-degrees test, 3 ^ c ;
Total.
Britain. Fr'nce nent. j Total. Rrilain. France. nent.
muscovado, 89-degrees test, 3 @ 3 l-32c., and molasses, 89degrees test, 2 % @ 2 25-32c. Refined has been steady. New G a lv e sto n ___ 6S.460 6,967 42,541 117.968 1,047,010 282,169 606,6851,935,864
92,240
_____ : 8,10V.
40,ISO
52,060
business has continued dull but there have been larger with­ Corp.Chrlsti.&r 8,103
1,547
1,547
drawals on old contracts. Granulated 4.60@ 4.70c. Spices New Orleans . 30,861 20,784 32,811 84,456 490,565 197.910 397,967:1,0S6,442
M o b ile __ __
28,142
99,227
10,015
25,910
--------1
10,015
45,175
have been in fair demand and firm. Teas have been firm Pensacola .
4,356 12,353 16,70‘J
97,208
30,702 26,432
40,014
100
with a fair jobbing trade. Hops have been in fair demand Fernandina 100
____ 27,503| 27,50.3 113,016 42,678 499,798 655,492
Savannah
and steady.
34,178
90,328
13,250 _
Brunswick___
. . 13,256
56,150
.
18,063
18,063
TOBACCO.— The market for domestic leaf has been C harleston..
W ilm ington
6,000 150,830 25S.551
13,200
_____ 13,200 101,721
stronger with some improvement in business. Supplies of Norfolk
____
5,740
2,367 _____
3,373
355
355
____
4,218 _____
4,218
leaf held by cigar manufacturers are reported light as a rule, Newport News
New Y o r k ____
3,069 2,482
4,129 9,680 115,370 26,562 103,695 245,627
and there have been rather large withdrawals from store­ Boston
6,710
2,371! 9.0S4
70,505
S2.030
11,525
48,343
2,342
3 .2 11* 5,831
49,272
99,957
B a ltim o re ____
2,583 . . . .
houses of late. Havana has been fairly active and firm.
29.S75
29,038
837
PETROLEUM has been active and firm. Refined, bar­ Portland, Me
1,584
1,584
____
40,719
2,565,
2,565
San
Francisco
.
46,719
rels, 7.50c.; bulk 4.40c. and cases 10c. Gasoline has been S eattle.........
38,709
---------- .........
38,709
-------- -----active and firm; 89 degrees 21c. in 100-gallon drums. Spirits
V,8i6| 4,810
17,637
17,637
Ore
of turpentine have been fairly active and strong, owing to Portland.
Pembina . .
1,855
1,855
an advance in the Southern market; local quotation 73c. D e tr o it.............
______
4,5 5 5 .........
4,555
-------- -------Rosin has been quiet but firm; common to good strained
T o t a l ______ 156,263 34,589 132,689323,541 2,200,559 610,003 2,103,006-1,913,568
$4 25@ $4 30.
541,331 1,573,975 3,948,060
COPPER has been irregular with trade quiet; lake 2 5 @ Total 1905-06. 74,499 10,214 76,802101,515
2534c.; electrolytic 24J^>@25c. Lead has been quiet but
In addition to above exports, our telegrams to-night also
firmer at 6.30@ 6.35c. "Spelter has been quiet and steady
at 6% c . Tin has been active and stronger; Straits 41.60c. give us the following amounts of cotton on shipboard, not
Iron has been more active and easier: No. 1 Northern $23 50 cleared, at the ports named. We add similar figures for
New York.
@ $25 50, No. 2 Southern $22 25@ $25.

166

THE CHRONICLE.
On S h ipboard, N o t Cleared fo r —

J a n . 18 at—

9.50©
9 .5 7 —
@
—
0 .4 5 — 9.47
9 .2 4 — 9.20

0 42 <ffi 0.53
9 .3 9 — 9.41

Saturday,
Jan. 12.

9.32®
9.50
9 .3 2 — 9.33

9.18®
9.30
9 .1 7 — 0.18

M onday,
Jan. 14.

9.31 ® 9.47
9 .4 0 — 9.47

0.25®
9.33
9 .3 5 — 9.37

9.10©
i).28
0 .2 0 — 9.30

Tuesday,
Jan. 15.

0.25®
9.40
9 .2 8 — 9.29

9 . 1 8 ® --------------------------------------------------------------------------------------------------------------- @
9.18- 9 .20 9 .2 8 — 9.30
9 .3 1 — 0.33 —
—
—

0.08 (<i) 0.21
9.12
9.13

W ednesday,
Jan. 10.

9.20 ® 0.24
9 .2 3 — 9.24

Thursday,
Jan. 17.

9.53®
9.04
9.49®
0 .0 2 — 0.03 —
—

9.50®
0.70
9 .5 0 — 0.57

9.54@
9.03
0 .5 0 — 0.00

—
®
--------------------------------------------------------------------------------------------------------------------------------------------------------------------- ® 9.59
9 .0 4 — 9.00
9 .3 0 — 0.41
9 .5 5 — 9.50
9 .3 7 — 9.39
9 .4 4 — 9.40
0 .4 8 — 9.50 —
—
—

9.04
0.53

9.53®
0.54
0.44®
0.72
9 .5 5 — 9.50 —
—
—

9.09®
9.78' 0.48®
9.04
9 .7 1 —
— 1 9 .4 8 — 9.49

9.49®
0 .5 2 —

9.51®
9.52
9 .5 1 — 9.52

—
®
-------------------------------------------------------------------------------------------------------------------------------------------------9 .7 4 — 0.75
9 .5 2 — 9.54
9 .0 5 — 0.00
0 .4 8 — 0.49
0 .5 5 — 0.50
0 .5 7 — 0.50 —
—
—

9.50®
9.71
9 .7 0 — 9.71

—
9.40

9.57®
9.71
9 .5 7 — 9.58

9.77®
9.84
9 .7 8 —
—

0.44®
9 .4 5 —

9.49®
9.58
9 .4 5 — 9.40

9.49®
0.57
9 .0 3 — 9.04

940,789
803,406
686,961

0.07®
0 .7 2 —
® 9.53
0 .0 8 — 0.09
9 .5 0 — 9.51

48,513 56,367 352,417
29,553 21,055 144,086
28,337: 14,734 176,778

10,000

-----------------------------------------------------------------------------------------------------------------------@
--------------------------------------------------------------------------------------------------------------------—

81,710
35,754
77,830

---

@
—

47,005
11,025
10,556

1,000

—
—

Total 19 0 7 . . 118,822
Total 1 9 0 6 .- 46,699
Total 1 9 0 5 .. 45,321

25,000

2,200

9.00®
0.09
9 .0 0 — 0.02

3,600
10,000

-----------------------------------------------------------------------------------------------------®
--------------------------------------------------------------------------------------------------—

9,000

®
—

12,500

1,200
5,000

—
—

500

3,000

316,184
232,276
159,993
11,682
33,777
22,985
137,19?
26,694

J an .—
Range
Closing
F e b .—
Range
Closing
M a rch —
Range
Closing
A p r i l—
Range
Closing
M ay—
Range
Closing
J u n e—
Range
Closing
J u ly —
Range
Closing
A im u st—
Range
Closing
S e p t.—
Range
Closing
O ct.—
Range
Closing
N o v .—
Range
Closing

l

4,800

Total.

------------------------------------------------------------------------------------------- ©
---------------------------------------------------------------------------------------- —

2,066 84,876
23,105 173,382
2,700 12,863
2,500
2,500
1,896 19,696
24,100 24,100

19,885
15,265
10,163

.

FUTURES.— The highest, lowest and closing prices at
New York the past week have been as follows:

@
—

28,548
27,062

9,110
31,195

L ea vin g
stock.

—
—

C oa st­
w ise.

Range
Closing

25,267
76,755

GerOther
m a p y . Foreign

l xx x iy

D ec . —

New Orleans. .
G a lv e sto n ____
Savannah _ _
Charleston____
M o b ile ________
N o r fo lk _______
N ew Y o rk ____
Other ports___

Great
B ritain. F ra n ce

[V ol.

9.47®
9.02
0 .0 1 — 9.02

0.45®
9.01
9 .0 0 — 9.01

0.40®
0.55
9 .4 4 — 0.45

9.50®
9.54
9 .4 0 — 9.48

0.55
.052

8.80
10.30
10.34
10.80

8.70

8.80
10.30
10.34
10.80

8.80
10.30
10.34
10.80

10.20
10.24
10.70

The quotations for middling upland at New York on
Jan. 18 for each of the past 32 years have been as follows:
1 9 0 7 .c . ____ 10.80
1 9 0 6 . . . ____ 12.25
1 9 0 5 . . . ____ 7 .25
1 9 0 4 . . . ____ 14.10
1 9 0 3 . . . ____ 8.95
1902
. ____ 8.31
1 9 0 1 . . . ____ 9.88
1 9 0 0 . . . ____ 7.75

1 8 9 9 .C ______
1898_______
1897 ____ .
1896 ________
1895________
1894________
18 9 3 ________
1 8 9 2 ... . . .




6.12
5.88
7.19
8.19
5.75
8.06
9.50
7.56

1 8 9 1 .C . . . . 9.44
1890____ - .1 0 ,6 2
1889____ . . 9.94
1888____ - .1 0 .5 6
1887____ . . . 9.44
18 8 6 ____ . . . 9.31
1884____ . . . 1 0 . 6 9

1883 .C _____
1881 ________
1880 ________
1879____ . .
1878_____ .
1877________
1 8 7 6 ..............

W eek .

8.70
10.20
10.24
10.70

F r id a y ,
Jan. 18.

8.80
10.30
10.34
10.70

0.57

ST A IN E D .
Low Middling___________ .
M id d lin g ___________________
Strict Low Mid. Tinged.
Good Middling Tinged____

9.18@

9.80
10.55
11.05
11.81
12.55

—

9.80
10.55
1 1.05
11.81
12.55

--------------- @

9.70
10.45
10.95
11.71
12.45

0.16©
0.30
0.08®
9.53
9 .2 0 — 9.28 —
—
—

9.80
10.55
1 1.05
11.81
12.55

9.59

9.70
10.45
10.95
11.71
12.45

9.38®

9.80
10.55
1 1.05
11.81
12.55

—

G ULF.
Good Ordinary. _________
Low Middling___ __________
Middling . .
Good M iddling___ __ .
Middling F a ir .. . . . . .

®

9.55
10.30
10.80
11.56
12.30

Fri.

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

9.55
10.30
10.80
11.56
12.30

9 .4 4 ®

T h u rs.

9.45
10.20
10.70
11.46
12.20

9.47

W ed.

9.55
10.30
10.80
11.56
12.30

0.38®

T u e s.

9.45
10.20
10.70
11.46
12.20

—

Alon.

9.55
10.30
10.80
11.56
12.30

UPLANDS.

Total visible supply-------------------5 ,403,427 5,440,131 4 ,562,715 4 ,040,043
O f the above, totals of American and other descriptions are as follows:
A m erica n —
Liverpool stock......................... bales 686,000 1 ,026,000
868,000
534,000
Manchester s t o c k .------------------------44,000
44,000
38,000
63,000
Continental stock........ ........................ 689,000
745,000
593,000 678,000
American afloat for Europe............. 902,100
557,000
629,000 577,000
U . S. port stocks........ ..........................1,293.206
947,492
863,739
828,371
U . S. interior stocks----------------------- 677,672
721,646
705,518 464,859
U . S. exports t o -d a y ..........................
60,419
14,993
25,458
43,0 8 8
9.49®

S at.

Good Ordinary____________
Low Middling________ _____
M id d lin g _____ . . _______
Good Middling____________
Middling F air_____________

76,000 46,000
46,000
200,000
201,000
24 5,00 0
737,000
378,000
279,000
947,492
863,739
828,371
721,646
705,518
482,584
14,993
25.458
4 3 ,0 8 8

—

On this basis the official prices for a few of the grades for
the past week would be as follows:

Egypt,Brazil,&c.,afloat for Europe
75,00 0
Stock in Alexandria, E g y p t ______ 245,000
Stock in Bom bay, I n d i a __________ 479,000
Stock In U . S. p o r ts _______________ 1,293,206
Stock in U . S. interior towns........... 677,672
U . S. exports to-d ay.........................
60,449
9.49®

off
off
off
off
off
off
off
off
off
off

—

0.12
0.46
0.90
1.25
0.42
0.50
0.78
1.50
1.75
2.00

0.53 @ 0.55

----------- ®

Middling tinged.c.
Strict low mid. ting
Low mid. tinged..
Strict g’d ord. ting
Fully mid. stained
Middling stained..
Barely mid.stained
Strict low m. stain
Fully 1. m. stained
Low mid. str>.ined-

0.£5@
0.70
9 .4 1 — 9.42

----------- ®

Strict low m id ..c . 0.14 off
Fully low mid____0.32 off
Low middling____0.50 off
Barely low mid___0.70 off
Strict good ord__ 0.90 off
Fully good ord__ 1.07 off
Good ordinary____1.25 off
Strict g’d mid. tgd. 0.30 on
Good mid. tinged.
Even
Strict mid. tinned. 0.06 off

9.30®
0.43
9 .4 1 — 9.42

---------------- --------------------@

—
—

@

----------- ®
---------- —

----------- ®
---------- —

0.43 ® 9.56
9.40 @ 0.78
0 .5 3 — 9.54 —
—
—

----------- @
---------- —

@

9.84
—

----------- @
---------- —

—

-

----------- ®
—

-- —

----------- @
---------- —

—
—

9.03
9.45®
9.09
9 .6 2 —
—
—

----------- @
---------- —

----------- ©
---------- —

9.50©
9.G1—

----------- ©
---------- —

----------- @
---------- —

F a ir ................_ .c . 2.00 on
Strict mid. (air___1.75 on
Middling fair_____ 1.50 on
Barely mid. fair-. 1.25 on
Strict good mid___1.00 on
Fully good mid___0.88 on
Good middling___0.76 on
Barely good m id .. 0.57 on
Strict middling___0.3S on
Middling_________
Basis

9.32®
9.41
9 .3 7 — 9.38

0.47®
9 .5 1 —

9.52®
9.02
9 .5 8 — 9.59

------------------@
—
---------- —

----------- ©
---------- —

-

----------- @
---------- —

------- @
--------- —

Speculation in cotton, for future delivery has continued
quiet rather than otherwise, and the drift of prices has been
downward, owing mainly to large receipts and the tendency,
if anything, to increase crop estimates. Current opinion here
in regard to the size of the yield has latterly concentrated on
something like 13,000,000 bales, but if the crop movement
continues at its present rate much longer, popular opinion,
judging from present appearances, will be inclined to raise
these figures. In any case the large receipts have militated
against speculation more plainly than ever, and this fact and
selling by discouraged “ longs” and not a little bear pressure
both at home and abroad have paved the way for lower
prices. The wide disparity between the prices of futures
here and those at New Orleans has not helped matters what­
ever may be the actual merits of the controversy now in
progress in regard to the provisions of the New York contract
and the schedule of differences between grades in force here.
The decline at the Stock Exchange has accounted in a
measure for the selling by Wall Street houses, which at times
has been something of a feature. The course of the market,
however, has been irregular. At times advances have taken
place, owing partly to a sudden upturn in Liverpool or to
covering here in a somewhat oversold market, or because of
some momentary decrease in the movement and rumors that
the receipts in the Atlantic States are likely soon to diminish.
A decrease in the Bank of England’s rate of discount making
matters more favorable for Lancashire, and rumors that a
c siderable quantity of cotton taken from the New York
st ck is to be exported shortly to Liverpool, have also been
sustaining factors at times. A fear of floods in the Mississippi
River has likewise had some effect, as the Government re­
ports have shown that the river below Cairo has been above
the flood stage for practically its entire length. Remark­
able activity in the spot trade at Liverpool, too, has
THE VISIBLE SUPPLY OF COTTON to-night, as made
been a feature, sales on one day aggregating 18,000 bales, up by cable and telegraph, is as follows. Foreign stocks,
while the general tone of the spot markets at the South has as well as the afloat, are this week’s returns, and conse­
been firm with reports of a good demand, even for the lower quently all foreign figures are brought down to Thursday
grades, which have hitherto been more or less neglected in evening. But to make the total the complete figures for
the active quest for the better descriptions. Yet, offsetting to-night (Friday), we add the item of exports from the
all these factors, has been the remarkably large movement of United States, including in it the exports of Friday only.
the crop, greatly exceeding that of two years ago in the season
J a n u a ry 18—
1907.
1906.
1905.
1904.
of the high-record yield, though it is to be borne in mind that Stock
at Liverpool _ ............. bales. 790,000 1 ,159,000
938,000
613,000
at that time a big holding back movement was in progress at Stock at L o n d o n _________________ __12,000
13,000
12,000
14,000
Stock
at
Manchester_______________5
7,000
5
2,000
4
4,000
73,000
the South. To-day a small advance took place after an early
decline, due to large receipts and disappointing Liverpool ad­
Total Great Britain stock______
859,000 1 ,224,000
994,000
700,000
11,000
11,000
15,000
9 ,0 0 0
vices, prices there showing unexpected weakness. But when Stock at Ham burg________________
360,000
414,000
340,000
36 4 ,0 0 0
Stock at B re m e n _________ , ______
it was found that even the large quantity brought into sight Stock at A n t w e r p ________________
_______
_______
4,000
4 ,0 0 0
216,000
270,000
192.000
231,000
during the week failed to depress quotations, many of the local Stock at H avre________________
Stock at Marseilles________________
3,0 0 0
3,000
3.000
2 ,0 0 0
shorts covered, and this of itself was sufficient to turn prices Stock at B arcelon a_______________
17 ,0 0 0
10,000
37,000
6 1,000
72,000
43,000
39 ,0 0 0
upward. Spot cotton has been rather more active during Stock at G enoa____________________ 1 2 1,0 0 0
Stock
at
T
r
ie
s
te
___________________
1,000
2,000
3.000
2,0 0 0
the week. Middling closed at 10.80c., showing no change
for the week.
Total Continental stocks_______ 7 29,000
782,000
637,000
71 2 ,0 0 0
The rates on and off middling, as established Nov. 21 1906
Total European stocks_________ 1 ,588,000
2 ,006,000 1 ,631,000 1 ,412,000
by the Revision Committee, at which grades other than India cotton afloat for Europe___ 173,000
180,000
83,000
127^000
American cotton afloat for Europe 802.100
557,000
629,000
5 77,000
middling may be delivered on contract, are as follows:

Total A m e ric a n --------------- ----------4,3 5 2 ,4 2 7 4,056,131 3,7 2 2 ,7 1 5 3,2 0 6 ,0 4 3
E a st In d ia n , B ra zil, & c .—
Liverpool stock....................................
104,000
133,000
70,000
7 9,000
London stock .......................................
12,000
13,000
12,000
14,000
Manchester stock--------------------------13,000
8,000
6.000
10,000
Continental stock--------------------------4 0,000
37,000
44,000
3 4,000
India afloat for Europe____ ______
173,000
180,000
83,000
127,000
Egypt, Brazil, & c., afloat________
75,000
76,000
46,000
46,000
Stock in Alexandria, E g yp t______
245.000
200,000
2 0 1,0 0 0
245,000
Stock In B om bay, India_________
479,000
737,000
378,000
2 7 9,000
Total East India, &c__________ 1,141,000 1 ,384,000
840,000
834,000
Total A m e ric a n ________________ 4 ,3 5 2 ,4 2 7 4,056,131 3,7 2 2 ,7 1 5 3 ,2 0 6 ,0 4 3
Total visible supply _
5 493,427 5,440,131 4 ,5 6 2 ,7 1 5 4 ,0 4 0 ,0 4 2
Middling Upland, L i v e r p o o l . .. !.
5 . 86 d.
6.30d .
3.8 1 d .
8 .0 0 d .
Middling U pland, New York . . .
1 0 . 80 c.
12.25c.
7 .25c.
14.75c.
E g yp t, Good Brown, L iv e rp o o l..1 0 l l-1 6 d . 8 9-16d .
7>*'d.
9 5 -i6 d
Peruvian, Rough Good, Liverpool
9 . 25 d.
9 .0 0 d .
10.30d .
9 .7 5 d .
Broach, Fine, Liverpool__________5 1 1 - 1 6 d.
_ 5 3i d . 3 15-16d.
7K d.
Tlnnevelly, Good, Liverpool______
5 H d.
5 9-16d . 4 l-1 6 d .
7d .

Continental imports past week have been 183,000 bales.
The above figures for 1907 show an increase over last week
of 103,863 bales, a gain of 53,296 bales over 1906, an ex­
cess of 930,712 bales over 1905 and a gain of 1,453,384 bales
over 1904.

167

THE CHRONICLE.

J a n . 19 1907.1

A T T H E IN T E R IO R T O W N S the movement— that is,
th e receipts for th e week and since Sept. 1, the shipments
for the week and the stocks to-night, and the same items for
the corresponding period for the previous year— is set out
in detail below.

Q U O T A T IO N S FO R M ID D L IN G C O TTO N A T O T H E R
M A R K E T S .— Below are the closing quotations of middling
cotton at Southern and other principal cotton markets for
each day of the week:
C losin g Q uotations fo r M id d lin g C otton on—

Total

S a t’ day.

Galveston

___ 10%'
New Orleans___ 10 %

T

M o b ile __________
Savannah _____
C h a r le s t o n .___
W ilm ington____
N o r fo lk ________
B o s t o n _____
Baltimore ____
Philadelphia___
Au gusta___ _____
M em p h is____ __
St. Louis_______
H o u s t o n _______
Little R ock ____

199 4,95(
2,972 34,54
1,587 16,65
1,351 1 1 ,0 1 .
2,760 4 6 ,6 9 ;
252 5,59.'
1,597 18,82
453 8,05!
4,713 87,08-'
1,060 23,020
933 10,87(
603 7,173
35 350
2,537 27,47:'
802 9.39C
2,006 11,00!
1,100 16,30<
949 24,316
2,009 18,125
1,436 24,714
1,022 17,535
15,079 42,681
125 614
4,140 14,216
___ 5,442
23,187 130,567
290 2,372
104 1,522
155 1,436
1,404 3,690
2 1,157
40,666 92,062
495 2,201

o

116,023 721,646

_

108,920 4,136,017

A la b a m a , ___________
21,222 50G 4,50(
6
133
21,403
“
.................
5,276136,304 6,391 27,171
2,127
146,409
“
_______
2,814
98,926
3,466 5,831
1,457
92,046
A r k a n s a s _____
2,571 47,850
3,648 17,12(
1,01 i
44,405
“
......
7,859 173,146
8,104 48,96!
3,75 !
121,449
Georgia
_
153
22,457
367 3,921'
486
22,853
“
............
2,863 91,194
4,304 18,135
643
72,664
“
............
4,484117,008
4,249 13,981
773
36,212
“
______
8,228286,679
8,229 47,13*3,557
303,004
“
............ ........................
1,00646,991 769 22,750
1,499
64,933
“
............ ........................
21652,888 136 6,392
507
54,416
“
______
2,550 37,563
2,962 5,51512
32,069
Kentucky, n et _
201
4,959
151
30(
35
5,227
L o u isiana ______
3,702160,334
5,541 20,77:.
2,174
80,660
M ississippi _____
1,338 42,003
1,900 9,291
1,166
27,280
"
............ .
1,847
48,692
4,382 11,905
1,200
35,107
“
............ ........................
4,10062,8894,700 16,400
1,900
49,770
............ ................................................
3,72574,8753,84118,554 872
50,359
“
“
............ ........................
2,34262,3913,757 12,544
1,255
37,849
“
............ ................................................
3,99770,8753,35732,997 1,775
57,992
_______
1,873 46,352
1,836 13,300
1,617
45,822
“
M issou ri ________
25,197451,173 26,938 29,334
16,826
299,656
North Carolina
632
13,203
493 1 ,470
145
10,218
Ohio
5,246
76,892
3,513 9,841
5,463
87,059
558
14,961
747
4,955
52
14,081
South Carolina _
30,799567,13932,923172,463 19,036
584,137
Tennessee ______ _____________
“
______
356 8,458
161
734
58
9,591
Texas______________________________________
12614,7172322,514
123
7,882
“
___________
61336,782 734 3,534
542
9,944
“
......................, .....................
5,25787,2055,7494,500
1,575
63,478
“
____________
72630,804 994 1,950
201
15,609
“
......................
108,8142,124,543113,63583,973 35,530 1,593,871
“
..................... ................................................
3,42785,8972,3894,889920 48,562

10 %

10 9-16
10

10%

10 %
10.80

10%

M o n d a y . Tuesday. W e d ’ day. T h u rsd ’ y. F r id a y .
10 9-16
10 7-16

10 9-16
10 7-16

10 5-16
10

10 1-16

10%

10 %

10

10%
10%
10 %

w

10.80
10.95

11.05
10 5-16

10 5-16

10 9-16
9%

10%
9%

10%

10 5-16

10 1-16

10 9-16
10 1-16

10%

10 %

10%
10%

10%

10 1-16

10

10%
10.80
10 %
10.95

10%

10%
10%
10 %

10 1-16
10

10%
10.70

11.05
11
10 9-16
10%

10%

10 %

10%

10%
10%
10%

10 1-16
10

10
10%
10.70

10
10 %

10%

10%

11.05
10%
10 5-16

11.05

10%
10%
9%

10.80

10%

10 5-16
10%
10%
9%

_

n

The closing quotations to-day (Friday) at other important
Southern markets were as follows:

_

s

_

M ovem ent to January
. -----------18

Week.

Receipts.

Season.

1907.M ovem ent to January

Ship- Stocks
J a n . ---- ments.
18.
Season.
Week.

R eceipts.

Week.

----- ments.

33 towns .............. ................................................242,9125,217,432 261,104677,672

Eufaula,
Montgomery,
Selma,
Helena,
Little Rock,
Albany,
Athens,
Atlanta,
Augusta,
Columbus,
Macon,
Rome,
Louisville,
Shreveport,
Columbus,
Greenville,
Greenwood,
Meridian,
Natchez,
Vicksburg,
Yazoo City,
St. Louis,
Raleigh,
Cincinnati,
Greenwood,
Memphis,
Nashville,
Brenham,
Clarksville,
Dallas,
Honey Grove,
Houston,
Paris,

W eek ending
J a n . 18.

1906.

O VER LA N D M OVEM ENT FO R T H E W E E K AND
S IN C E SE P T . 1 .— W e give below a statem ent 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:

Total gross overland___________ .6 3 ,1 9 9
D ed u ct sh ip m en ts— •
Overland to N . Y . , Boston, & c ..
6,687
Between Interior tow ns..................
842
Inland, & c., from S o u t h ..............
1,173
Total to be deducted-----------------

-------- 1 9 0 5 -0 6 -------S in ce
W eek .
S ep t. 1.
257,751
15,079
122,816
9,1 2 6
27,813
1,099
51,985
3,022
34,402
1,868
145,222
9,486

888,694

39,680

639,989

79,421
28,484
23,335

4,0 9 6
262
1,313

9 8 ,0 6 3
9 ,867
2 0,1 5 0

8,702

131,240

5,671

128,080

Leaving total net o ve rla n d .a--------- .5 4 ,4 9 7

757,454

34,009

5 1 1 ,9 0 9

a Including m ovem ent by rail to Canada.

The foregoing shows the week’s net overland m ovem ent
has been 54,497 bales, against 34,009 bales for the week
last year, and that for the season to date the aggregate
net overland exhibits an increase over a year ago of 24 5 ,5 4 5
bales.
---------1 906-07---------I n Sight and S p in n ers'
S in c e
T a kin gs.
W eek .
S ep t. 1.
Receipts at ports to Jan. 1 8 ---------------339,4 79 '6,722,403
N et overland to Jan. 18 --------------------- 54,497
757,454
Southern consumption to Jan. 1 8 —
47,000
940,000

--------- 1905 -06--------S in ce
W eek .
S ep t. 1.
138,799 5 ,499,755
34,009
511,909
46,000
927,000

Total m arketed____________________ 440,976 8,4 1 9 ,8 5 7
Interior stocks In excess--------------------- 018,192
581,396

2 18,808 6,9 3 8 ,6 6 4
a7,103
586,469

Came Into sight during w eek---------422,784
Total In sight Jan. 18.................................. ..

--------------9,0 0 1 ,2 5 3

_______ 7 ,5 2 5 ,1 3 3

N orth, spinners’ takings to Jan. 1 8 ..1 0 7 ,9 5 4 1,441,446

69,982 1,4 0 1 ,8 1 6

a Decrease during week.

Movement into sight in previous years:
TVeefc—

1905—
1904—
1903—
1902—

Jan.
Jan.
Jan.
Jan.

B a le s . | S in ce S ep t. 1—
2 0 .............................. 1 45,22211904-05
J a n .2 0 . .
Jan. 2 2 . .
2 2 ______'
_ . .2 4 4 ,8 2 6 |1903-04
2 3 . . ...........
. 2 8 9 ,8 4 0 11902-03- •Jan. 2 3 . .
2 4 .............................. 26 6 ,1 6 4 11901-02 -Jan. 2 4 .




N E W O R L E A N S O P TIO N M A R K E T .— The highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
S a t’ day,
J a n . 12.
Ja n u a ry —
Range _______
Closing_______
M a rch —
Range _______
Closing_______
M ay—
Range _______
Closing_______
J u ly—
Range . ___
Closing_______
October—
Range . ___
Closing_______
Tone—
S p o t _________
O p tio n s______

M o n d a y , T u esda y, W ed 'd a y , T h u rsd ’ y, F r id a y ,
J a n . 14. J a n . 15. J a n . 16. J a n . 17. J a n . 18.

10.22-.3 4 10.05-.1 5 10.08-.2 4 10.08-.2 2 10.13-.2 3 1 0 .1 5 -.2 0
10.23-.2 4 10.07-.0 8 10.23-.2 4 10 .10-.12 10 .20-.21 1 0.1 5 -.1 6
10.20-.36 10.02-.1 6 10.04-.21 10.05-.1 8 10.11-.20 1 0 .1 1 -.1 9
10 .20-.21 10.04-.05 1 0.19-.2 0 10.08-.0 9 10.17-. 18 1 0 .1 3 -.1 4
10.27-.43 10.07-.2 2 10.09-.2 7 10.07-.2 2 10.12-.22 10.12-.20
10.27-.28 10.09-.1 0 10.24-.25 10.11-.12 10.18-.1 9 1 0 .1 4 -.1 5
10.36 — 10.15-.28 10.24-.33 10.14-.27 10.24-.2 8 1 0 .2 0 -.2 5
10.36-.37 10.16-.17 10.31-.3 2 10.16-.1 7 10.24-.2 5 10.2 2 -.2 3

@

9.75 —

@

9 .60

—

E asy.
Easy.
Ba’ly s ’y Steady.

@

9 .70

—

Steady.
Steady.

9 .8 1 -.8 7
9.75 —
Quiet.
Steady.

@ .81
9 .7 6 -.8 0

@

9 .7 7 -.7 9

Very sty. Steady.
Steady. B a’ly s’y

19
Ship- Stocks
Jan.
19.

W eek.

The above totals show that the interior stocks have in ­
creased during the week 18,192 bales, and are to-night
43,974 bales less than at the same period last year. The
receipts at all the towns have been 133,992 bales more than
the same week last year.

--------1 9 0 6 -0 7 -------J a n u a ry 18—
S in c e
W eek .
S ep t. 1 .
S h ip p ed —
4 3 5,340
Via S t. Louis______________________ 26,938
V ia C a ir o __________________________
9,060
129,993
V ia Rock I s la n d __________________
3,394
32,734
V ia L o u isv ille____________________
1,804
43,731
V ia Cincinnati____________________
2,026
30,524
V ia other routes, & c _____________ .1 9 ,9 7 7
216,372

A t la n t a ____________ 1 0 % ] M o n t g o m e r y ______ 9 % |R a le ig h ______________ 1 0 %
Columbus, G a _____ 10
I N a s h v ille __________ 10 % |Shreveport_________

B a les.
____ 8 ,4 7 2 ,3 1 5
____ 7 ,725,011
____ 7 ,664,692
____ 7,632,769

W E A T H E R R E P O R T S B Y T E L E G R A P H .— Our a d ­
vices by telegraph from the South this evening indicate that
in general the weather has been favorable during the week.
The rainfall has been light quite generally where there has
been any rain at all and temperature has been unusually
high for the season. The movement of cotton to market
continues liberal.
Galveston, Texas.— W e have had rain on three days during
the week, the rainfall being fifty hundredths of an inch. The
thermometer has ranged from 66 to 74, averaging 70.
Abilene, Texas.— W e have had rain on one day the past
week, to the extent of two hundredths of an inch. Average
thermometer 58, highest 82, lowest 34.
Corpus Christi, Texas.— W e have had no rain during the
week. The thermometer has averaged 72, the highest being
76 and the lowest 68.
Fort Worth, Texas.— There has been no rain during the
week. The thermometer has averaged 60, ranging from
40 to 80.
Palestine, Texas.— W e have had no rain during the week,
The thermometer has ranged from 64 to 80, averaging 72.
San Antonio, Texas.— W e have had no rain the past week.
Average thermometer 71, highest 85, lowest 56.
Taylor, Texas.— There has been a trace of rain on three
days during the week. The thermometer has averaged 77 ,
the highest being 82 and the lowest 62.
New Orleans, Louisiana.— There has been rain on one day
during the week, the precipitation reaching three hundredths
of an inch. The thermometer has averaged 70.
Shreveport, Louisiana.— It has rained on one day of the
week, to the extent of twenty-one hundredths of an inch.
The thermometer has ranged from 53 to 79, averaging 66.
Leland, M ississippi.— There has been rain during the week,
the precipitation reaching eighty-five hundredths of an inch.
The thermometer has averaged 62, the highest being 83 and
the lowest 38.
Vicksburg, M ississippi.— W e have had rain on one day
during the week, to the extent of seven hundredths of an inch.
The thermometer has averaged 70, ranging from 62 to 79.
Helena, Arkansas.— W e are having extraordinary weather;
trees are budding and flowers blooming. Considerable cot­
ton in fields yet. W e have had rain on two days during the
week, to the extent of thirteen hundredths of an inch. The
thermometer has ranged from 46 to 73, averaging 62.4.
Little Rock, Arkansas.— There has been no interruption to
picking and cotton is being marketed freely. W e have had
rain on two days the past week, the rainfall reaching three
hundredths of an inch. Average thermommeter 59, high­
est 76, lowest 42.
Memphis, Tennessee.— Weather cloudy and unseasonably
warm all the week. The river is thirty-two and eight-tenths
feet on the gauge and falling. W e have had rain on four days
of the week, the precipitation reaching eight hundredths of

168

THE CHRONICLE.

an inch. The thermometer has averaged 61.6, the highest
being 72.9 and the lowest 40.2.
Nashville, Tennessee.— It has rained during the week,
the rainfall being twenty-nine hundredths of an inch. The
thermometer has averaged 61, ranging from 48 to 74.
M obile, Alabama.— Dry all the week. Temperature ab­
normally high in the interior the past three weeks. The
thermometer has ranged from 59 to 75, averaging 67.
Montgomery, Alabama.— No cold spell thus far this winter.
In fact the weather has been unusually warm for the time
of year. We have had rain on one day the past week, the
rainfall being two hundredths of an inch. Average ther­
mometer 66, highest 79, lowest 50.
M adison, Florida.— No rain the past week. The ther­
mometer has averaged 62, ranging from 43 to 79.
Savannah, Georgia.— It has been dry all the week. The
thermometer has averaged 65, ranging from 52 to 77.
Charleston, South Carolina.— Rain has fallen on one day
during the week, the rainfall reaching two hundredths of an
inch. The thermometer has ranged from 52 to 78, averaging
64.
Greenwood, South Carolina.— We have had no rain the past
week. Average thermometer 60, highest 66, lowest 54.
Stateburg, South Carolina.— We have had light rain on one
day of the past week, the rainfall being two hundredths of
an inch. The thermometer has averaged 62.5, the highest
being 78 and the lowest 44.
Charlotte, North Carolina.— We have had rain on one day
during the week, to the extent of two hundredths of an inch.
The thermometer has averaged 58, ranging from 42 to 77.
The following statement we have also received by tele­
graph, showing the height of rivers at the ports named
at 8 a. m. of the dates given:
N e w O r le a n s ____ ______ A b o v e
M e m p h i s _______________ A b o v e
N a s h v i ll e _______________ A b o v e
S h r e v e p o r t ______________A b o v e
V i c k s b u r g ______________A b o v e

z e ro
z e ro
zero
zero
z e ro

of
of
of
of
of

gauge.
gauge.
gauge.
gauge.
gauge.

J a n . 18 1907.
F e e t.
16.4
32.8
12.2
15.5
4 3 .4

J a n . 19 1906.
F e e t.
12.6
18.6
20.4
13.0
3 1 .0

IN D IA COTTON MOVEMENT FROM ALL PORTS.—
The receipts of cotton at Bombay and the shipments from all
India ports for the week and for the season from Sept. 1 for
three years have been as follows:
J a n u a r y 17.

1 90 6-0 7.

R eceip ts at—
W eek .
B o m b a y ____________

9 0,0 0 0

190 5-0 6.

S in c e
S ep t. 1.

> S in ce
S ep t. 1.

W eek .

8 5 8 ,0 0 0 113,000

F o r the W eek .

997 ,0 0 0

1 90 4-0 5.
W eek .
79,0 0 0

S in ce
S ep t. 1.
7 2 5 ,0 0 0

S in ce' S eptem ber 1.

E x p o rts from —
Great
B ritain .
Bom bay—
1 9 0 6 -0 7 ________ __
1 9 0 5 -0 6_______ . .
19 0 4 -0 5 ___________
C a lc u tta —
1 9 0 5 -0 7 .. . . .
1 9 0 5 -0 6 ___________
1904-05 _______ __
M ad ras—
1 9 0 6 -0 7 ....................
1 9 0 5 -0 6 ..
...........
1 9 0 4 - 0 5 . ............. ..
A ll oth ers—
1 9 0 6 -0 7 ....................
1 9 0 5 -0 6 ____ ______
1 9 0 4 - 0 5 . . . .............
T o t a l a ll—
1 9 0 6 -0 7 ....................
1905-06 ..................
1 9 0 4 -0 5 ...............

2,0 0 0

---

C o n ti­
n ent.

Total.

24,0 0 0
37,000
6,000

24,0 0 0
37,000
8,000

3,000
3,000
2,000
2,000

Great
B r ita in .

C o n ti­
nent.

Total.

11,000
22,000
9,000

337 ,0 0 0
271 ,0 0 0
81 ,000

3 4 8 ,0 0 0
293 ,0 0 0
90,0 0 0

3,000
3,000

2,0 0 0
2,000

21 ,000
18,000
9 ,0 0 0

23,0 0 0
20,0 0 0
9,0 0 0

2,0 0 0
2,000

1,000
1,000
2,000

10,000
21,000
12,000

11,0 0 0
22,0 0 0
14,000

__

2,000
1,000

---

2.000
1,000

5,0 0 0
6,000
4,0 0 0

3,000

29,0 0 0
44,000
6,000

29,000
4 4 ,000
9,0 0 0

19,000
3 1,0 0 0
15,000

4 4 ,000
52,000
39,000

4 9 ,0 0 0
58,0 0 0
4 3 ,0 0 0

4 12 ,000
362 ,000
141,000

4 3 1 ,0 0 0
393 ,0 0 0
156,000

W O R L D ’S SUPPLY AND TAKINGS OF COTTON.—
The following brief but comprehensive statement indicates
at a glance the world’s supply of cotton for the week and
since Sept. 1, for the last two seasons, from all sources from
which statistics are obtainable; also the takings, or amount
gone out of sight, for the like periods:
1 90 6-0 7.

C o tto n T a k in g s .
W e e k and S eason .

190 5-0 6.

S ea so n .

W eek .
V ls ib le s u p p ly J a n .il . . . .
o ,389 ,o64
V is ib le s u p p ly S e p t. 1 ___________
422',784
A m e rica n in sigh t t o Jan . 1 8 ____
B o m b a y re ceip ts t o Ja n . 1 7 ____
90 .000
O th er In d ia s h ip ’ ts t o Ja n . 1 7 . .
5.000
34.000
A le x a n d r ia r e ce ip ts t o J a n .l 6 . .
O th er s u p p ly t o Jan . 1 6 _ a ___ __
7 .0 0 0

W eek .

— Comtelburo, Limited, of London and New York, have
issued a unique business calendar for 1907. The pub­
lishers truly say that “ the publication is the only one of its
kind and the ‘business holiday’ feature is the most valuable
to firms having foreign connections, as their trading is inter­
rupted when holidays intervene, and this calendar spares
possible waste actions and allows economy in cable advices
being obviated by the calendar giving beforehand the fixture.
Trading steamers, as well as liners, may greatly benefit by
carrying a copy, so that holiday derangement of business
facilities may be known to them before reaching ports af­
fected. The ‘business maxims’ are a new feature (and selfexplanatory), and the tabular section also. The ‘glossary of
business terms’ and the tables for conversion of weights and
moneys are such as commercial firms are in daily need of.
The cable and trunk telephone tariffs may also be counted
handy helps for any business.” The calendar can be pur­
chased at the New York office, 16 Beaver Street. Price SI.
JUTE BUTTS, BAGGING, & c — With nothing done, the
market for jute bagging during the week under review has
been nominal at the following prices: 8 % c . for 1% lbs. and
9f£c. for 2 lbs., standard grades. Jute butts continue dull
at 3 @ 4 c . for bagging quality.

S ea son .

5 ,4 3 1 ,9 8 8
1 ,7 8 4 ,1 5 6
9 ,0 0 1 ,2 5 3
858 .0 0 0
83,000
725 .000
191.000

2 ,5 4 5 ,4 7 0
7 :5 2 5 ,1 3 3
9 9 7 .0 0 0
100.000
573 .0 0 0
2 2 0 .0 0 0

211 ,705
113,000
7,000
30.000
10.000

5 ,9 4 8 ,3 4 8 12,6 4 2 ,4 0 9 5,8 0 3 ,6 9 3 1 1 ,9 6 0 ,6 0 3
D educt—
5 ,4 9 3 .4 2 7
T o ta l ta k in g s t o Jan . 1 8 ____ __
O f w h ich A m e r i c a n ___________

5 ,4 9 3 ,4 2 7 5,440,131

5,4 4 0 ,1 3 1

3 6 3 ,5 6 :
259.561
104,001

6 .5 2 0 .4 7 2
5 .1 0 7 .4 7 2
1,4 1 3 ,0 0 0

7 .1 4 8 .9 8 2
5 .5 4 6 .9 8 2
1 ,6 0 2 ,0 0 0

454.921
351.921
103,000

a E m b ra ce s r e c e ip ts In E u ro p e fro m B ra zil, S m y r n a , W e s t In d ie s , & c.

MEMPHIS COTTON EXC H A N G E — ANN UAL ELEC­
TIO N .— At the annual election for officers of the Memphis
Cotton Exchange, held on Jan. 9, the following were elected
to serve the ensuing year: President, F. M. Crump; Vice-Pres­
idents, W . H. Kennedy, Dennis Smith, W . F. Taylor;
Treasurer, J. A . Omberg. Board of directors: A . J. War­
wick, Wm. Bowles, F. D. Farabee, Hugh M. Neelv Jr., J. H.
Turner, R. S. Bryan, H. H. Reese. Mr. Henry Hotter was
unanimously re-elected Secretary by the board of directors,
a position he has held continuously since March 15 1881.
COTTON IN B A R B A D O S — The Manchester
“ Guardian” of recent date contained the following:

(Eng.)

In th e a n n u a l r e p o r t o n B a rb a d o s fo r th e y e a r 1905-06 re fe re n ce Is m a d e
t o th e s a tisfa c to r y p rog ress o f t h e c o t to n -g r o w in g in d u s tr y .
It Is e stim a te d
t h a t In 1905 th ere w ere 2,000 acres u n d e r th is c r o p , a n d th e q u a n t it y o f
c o t to n e x p o r t e d w as 344 ,232 p o u n d s . T h e p rice s o b t a in e d v a r ie d fro m
1 2 M d . t o 17d. p er lb . a n d w ere re m u n e r a tiv e .
S o s a t is fa c t o r y lias th e in ­
d u s tr y p r o v e d sin ce It w as sta rte d fo u r y e a rs a g o t h a t 5,000 acres w ill p r o b ­
a b ly be p la n te d In c o t t o n d u rin g th e c o m in g se a so n . W h e r e ca re has been
ta k e n w ith th e c u ltiv a tio n th e net retu rn has a m o u n te d t o £ 1 0 o r m ore p er
a cre . A t th e b e g in n in g o f last N o v e m b e r th e c o t to n -g in n in g fa c t o r y ,
w h ic h b e lo n g e d t o th e G o v e rn m e n t, a n d w'liich w as w o rk e d b y a c o m m itte e
o f th e A g ricu ltu ra l S o c ie ty a p p o in t e d t o assist th e Im p e r ia l D e p a r tm e n t o f
A g ricu ltu re in th e esta b lish m e n t o f s u b s id ia ry in d u s trie s , w as tra n s fe rre d
t o th e B a rb ad os C o -o p e r a tiv e C o tto n F a c t o r y , L im it e d . T h e c o m p a n y
ch arg es J id . p er lb . fo r g in n in g a n d b a lin g th e lin t , a n d , o w in g t o th e in ­
crease in th e c o t to n in d u s tr y , has r e c e n t ly In creased its c a p it a l in o r d e r t o
e re ct a n ew fa c t o r y o f 24 g in s , so as t o be in a p o s itio n t o g in a ll th e c o t to n
sen t t o th e fa c to r y w ith in a r e a s o n a b le tim e .

MARKET AND SALES AT N E W Y O R K .
The total sales of cotton on the spot each day during the
week at New York are indicated in the following statement.
For the convenience of the reader we also add columns which
show at a glance how the market for spot and futures closed
on same days.
S p ot M a rk et
C losed.
S a t u r d a y ..
M onday—
T u esd a y . .
W ednesday
T h u rsd ay .
F r id a y -------

S t e a d y _____________
S te a d v , 10 p ts . d e c .
S te a d y , 10 p ts. a d v .
S te a d y , 10 p ts . d e c .
S te a d y , 10 p ts . a d v
S t e a d y ______________

Sales o f S p ot and C on tract.

F u tu res
M a rk et
C losed.

C on­
C on E x p o rt s u m ’ n. tract.

E a s y ________
E a s y ------------V e ry s t e a d y .
S t e a d y .............
S t e a d y . ...........
V ery S tea d y .

l ‘,666
l~,l'06
21

l ‘,609
210
1,219

According to the foregoing, Bombay appears to show a
decrease compared with last year in the week’s receipts of
23.000 bales. Exports from all India ports record a loss of
15.000 bales during the week and since Sept. 1 show an
increase of 38,000 bales.




[VOL,. LXXX1V.

2,1 2 7

T otal.

‘ 500

l",506

‘ 500
1,100

l '. i o e
1,530
1,310

2,1 0 0

5 ,4 4 6

EXPORTS OF COTTON GOODS FROM G R E A T
B R IT A IN .— Below we give the exports of cotton yarn,
goods, &c., from Great Britain for the month of December
and since Jan. 1 in 1906 and 1905, as compiled by us from
the British Board of Trade returns. It will be noticed that
we have reduced the movement all to pounds.
Total of A ll. 9

Cloth.

Y a m & Thread.
000*
omitted.

1905.

1906.

Yds.
477,955!
512,980
539.796

Lbs.
106,700
92,055
107,032

Lbs.
89,203
95,739
100,742

Lbs.
1
127,526!
111,667'
128,4661

L b s.* *
106,355
112.890
121,221

1st qr. 61.872: 54,782 1,639,019 1.530,740

1905.

Lbs.
Lbs.
Jan . . . 20,826 17,152
F e b ____ 19,612 17,151
M arch .. 21,434 20.479

1906.

1905.

Yds.
571.913
493.412
573,694

I

| 1905.

1906.

1906.

305.787

285,684

367,659}

340,466

470,098
501,367
503.267

85,250
107,165
83,272

87,734
93,570
93,925

104.4531
127.576;
100.1021

105.181
113,533
111,035

2d qr. 56,244 54,520 1,477.685 1,474.732

275.687

275,229

331,9311

329,749

510.4401
560,318
526.917,

107,100
107.108
90,371

95.263
104,572
98,339

126.3731
127,089
108,398;

113,501
124,804
116,188

3d qr. 57,381 56,319 1,632,012 1,597,675
19,873 22.151 509,948 509,733.
O ct —
N o v ___ 19,755 19,805 502,020 530,139;
D ec------ 18,786 20,954 500,611 553,765

304,479
95,140
93,660
93,397

298,174
95.131
98.940
103,351

36 l,86o! 354,493
115.013! 117,282
113,415! 118,745
112,183) 124.305

4th qr. 58,414 62,910 1.512,579 1,593,6371

281,197

297.422

340,611J 360.332

A p r il.. . . 19,203 17,447
May . . . 20,211 19,963
June . . 16,830 17,110

July . . .
A ugust.
S ep t. . .

19,373 18.238
19,981 20,232
18,027 17,849

456,940
574,405
446,340

573.52S
574,097
484,387

Tot. yr. 233,911i228,531 6,261,295 6,196,784 1,168,150 1,156,509 l,402,06l|l.385,040
1,024
44,808]
Total exports of cotton manufactures.........

861
39,863

1,447.893!1.425.764

The foregoing shows that there.'.has been exported from
the United Kingdom during the tweive months 1,447,893,000
lbs. of manufactured cotton, against 1,425,764,000 lbs. last
year, or an increase of 22,129,000 lbs.
A further matter of interest is the destination of these ex­
ports, and we have therefore prepared the following state­
ments, showing the amounts taken by the principal countries
during December and since Jan. 1 in each of the last three
years.
December.

P iece Goods—-Y ards.
(000s omitted.)

Jan. 1 to Dec
1904.

1905.

1906.

1906.

31.
1904.

1905.

E ast In d ie s ________________ 220,791 256,688 246,227 2,712.923 2,765.873 2,560.088
901.98S
T urkey, Eprypt and A fr ic a .. 78,056 70,344 83.721 1.067,724 926,600
757,712 928,457
594,448
China and Japan..... ............ .. 56,011 83,643 76,764
Europe (except T u r k e y )___ 24,195 24,251 21.646 308,826
281,53S 266,667
567,497
South A m erica ____________ 54,835 52,137 57.060 611,430
547.933
North A m erica____________ 32,410 32,136 37.4S0 327,518 309,155 319,871
All other cou n tries________
34,313 35,977 32.820 475,162 437,228 384.353
Total y a r d s ________ ____ 500,611 555,181 560,718 6,261,295 6.196,784 5,591,822
Total v a lu e ....... .......... ...... £6,207 £6,339 £6.346 £75,394 £70,821 £64.078
Yarns— Lbs.
(000s omitted.)
H olland _____ ____________
Germany _________________
O th.E urope(except Turkey)
East In d ie s________________
China and Japan----------------Turkey and E g y p t ________
All other countries............

3,206
' 3,599
2,752
3,211
773
999
1,794

2,985
3.332
2,712
4,982
1,090
1.584
2,173

3,355
3,663
2,540
2,978
448
2,044
1,933

39,753
41,014
31,043
39.861
11,864
18,893
24.945

37,441
39,514
28,382
41,513
12,511
21,770
23,970

29,384
40,295
23,598
27.600
3.138
18,634
21,252

Total l b s ................ ............
Total value ........................

16,334
£1,008

18,588
£976

16,961
£878

207,373
£11,836

205.601
£10,319

163.901
£8,955

A L E X A N D R IA RECEIPTS AND ^SHIPMENTS * OF
COTTON.— Through arrangements made with Messrs.
Choremi, Benachi & Co., of Liverpool and Alexandria, we
receive a weekly cable of the movements of cotton at
Alexandria, Egypt. The following are the receipts and
shipments for the past week and for the corresponding week
of the previous two years:
A le x a n d r ia , E g y p t,
J a n u a ry 16.

190 6-0 7.

1 90 5-0 6.

190 4-0 5.

R eceip ts (ca n ta rs a) —
T h is w eek . . __________
S in ce S e p t. 1 ___________

250 ,0 0 0
5 ,4 3 4 ,2 8 3

2 30 ,000
4 ,3 0 2 ,2 5 0

175 ,000
3,9 6 8 ,1 4 5

S in ce
This
w eek. S ep t. 1.

E xp orts (bales) —
To
To
To
To

This
S in ce
This
S in ce
w eek. S ep t. 1. ' w eek. S ep t. 1.

L i v e r p o o l .________ __
6 ,7 5 0 126,296
1,500 134,125
7 ,2 5 0 88,193
M a n c h e s t e r __________ 14,500 125.P48
C o n t i n e n t __________ . 13,750 180,240 12,250; 1 59,150
4,500; 41,242
A m e r ic a . ________ . 5,000 56,->89

6,0 0 0 122,557
4,000 71,7 6 3
7.750 149,617
2.750 34,379

3 0,7 5 0 414,881

20,5 0 0 378 ,316

T o ta l e x p o r t s .................. 34,750 496 ,902
a A

c a n ta r is 98 lb s.

This statement shows that the receipts for the week were
250,000 cantars and the foreign shipments 34,750 bales, v.i&j
MANCHESTER M A R K E T.— OurTreport "^received by
cable to-night from Manchester states that the market
continues firm for both yarns and shirtings. The demand
for both yarn and cloth is good. We give the prices
for to-day below and leave those for previous weeks of
this and last year for comparison:
1906-07.

d.
D ec.
7
14
21
28
Jan.
4
11
! 18

10 1-16 ©
9X
©
9 15-16©
9 Va.
©
9%
©
9 13-16©
9H
@

1905-06.

8H lbs. Shirt­
ings, common
to Jinest.

32s Cop
Twist.

d. s. d .

s. d.

Cot’n
M id
U pl’s
d.

d.

9 3-16 @ 9 IS -16 6
9
@
9*4 6
9X
@
9% 6
8 15-16 @
9 ‘4 6

6
6
lOi-6 6
10^ 6

7H
6
5
5

@ 9 10
@9 9
@9 8
@9 8

5.96
5.79
5.69
5.70

10^8 6
10^ 6

5
6
6

@9
@9
@9

5.87 8 15-16©
5.96 8 H
@
©
5.86 8H

8
9
9

8 H lbs. Shirt­
ings, common
to Jinest.

32s Cop
Twist.

11

ioy8 6

d. s. d .

9H 6
9H 0
9H 6

s. d.

Cot’n
M id
Upl's
d.

6
5
5H
5

@9
@9
@9
@9

6
AV,
fi
4H

6.42
6.29
6.31
6.24

5
5
5

@9
@9
@9

AV,
4V<j

6.23
6.09
6.30

AX

SHIPPING N E W S.— As shown on a previous page, the
exports of cotton from the United States the past week have
reached 323,541 bales. The shipments in detail, as made up
from mail and telegraphic returns, are as follows:
Total bales.
N E W Y O R K — T o L iv e r p o o l— J a n . 16— G e o r g lc , 2 ,4 1 2 u p la n d , 96
Sea I s la n d ------------------------------------------_
_
. . . . . . ___
2,508
T o M an ch ester— Ja n . 11— T in t o r e t to , 201 u p la n d , 110 Sea I s l311
T o L o n d o n — Jan . 12— M in n e to n k a , 2 5 0 _________________________
250
T o H a v re— Jan . 11— H u r ts d a le , 1 ,6 2 5 ___________________________
1.625
T o D u n k irk — Ja n . 11— H u r ts d a le , 8 5 7 . _______ _
______________
857
T o B a rcelon a — Jan . 12— S id ra , 2 9 8 ____
.
.
______
298
T o G en oa — Jan . 11— K o n ig A lb e r t , 2 , 5 9 9 . .............................. .........
2,599
T o N ap les— Jan . 11— K o n ig A lb e r t , 1 5 9 _ ._ ___________ __________
159
T o L e g h o rn — Jan . 11— P e ru g ia , 2 7 3 _____________________ _______
273
T o C h ina— Jan . 12— S t. G e o rg e , 8 0 0 ______________ .
. ______
800
N E W O R L E A N S — T o L iv e r p o o l— Ja n . 12— A s la n . 1 0 ,8 1 9 ____ Jan .
14— A u th o r , 7 ,5 4 2 -------J a n . 18— A le x a n d r ia n , 1 2 ,5 0 0 _______
30,861
T o H a v re— Jan . 11— A ls t o n , 5 ,8 0 0 -------Ja n . 12— M an ch ester
E n g in eer, 1 0 ,3 2 0 _____________________________ _________________ _
1 6 ,120
T o D u n k irk — Jan . 12— B r o o k w o o d , 4 ,6 3 9 _________
___
4,639
T o M arseilles— Ja n . 12— A u g u s te , 2 5 --------------------------------------25
T o R o t t e r d a m — Jan . 11— A ls t o n , 1 5 0 ------------------------------------------150
T o H a m b u rg — Jan . 16— B a v a ria , 1 ,0 5 6 _________________________
1,056
T o B rem en — Ja n . 11— R a n z a , 1 4 ,2 9 8 -------Ja n . 12— N u n lm a ,
9
7 ,5 3 7 ............. .......................................... - ........................................... ............21,8 3 5
T o A n tw e r p — Jan . 16— T o le s b y , 2 ,8 0 0 ----------------------------------------2,8 0 0
T o T rieste— Jan . 12— A u g u s te , 5 2 3 -------Ja n . 17— A r ls te a , 2,6 0 0
3,123
T o B a rc e lo n a — Jan . 17— A rlste a , 3 ,3 4 7 --------------------------------------3,347
T o V en ice— Ja n . 17— A rlste a , 5 0 0 ________________________________
500




169

THE CHRONICLE.

J a n . 19 1907.]

T otal bales
G A L V E S T O N — T o L iv e r p o o l— Jan . 10— M o n ta u k P o in t , 12,644
____ Jan . 11— Im a u m , 5 ,3 8 3 _____Jan . 12— B e n e d ic t, 7 , 2 4 8 . . .
Jan . 14— Inlcu m , 1 0 ,1 1 1 ____ Ja n . 1 6 — C u s to d ia n , 2 2 ,5 8 0 _____ 5 7 ,9 6 6
T o M an ch ester— Jan . 11— D o m in g o d e L a rr in a g a , 1 0 ,4 9 4 ____ 1 0 ,4 9 4
T o H a v re — Jan . 10—-M o n a d n o c k , 6 .9 6 7 __________________________
6 ,9 6 7
T o B re m e n — Ja n . 14— Q u e e n , 1 3 ,9 8 6 ____ J a n . 16— H a r p e r le y ,
13,053 _____________________________________________________________
27,0 3 9
T o H a m b u r g — Jan . 12— E th e ls ta n , 3 ,0 0 0 ____ Jan . 15— H a r ly n ,
2,9 7 5 _______________________________________________________________
5 ,9 7 5
T o R o t t e r d a m — Jan . 10— L o r d D u ffe r in , 2 5 2 ___________________
252
9 ,2 7 5
T o G e n o a — Ja n . 14— C ltta di P a le r m o , 9 ,2 7 5 ___________________
P O R T A R T H U R — T o L iv e r p o o l— Ja n . 17— R o s e b a n k , 8 ,1 0 9 ______
8 ,1 0 9
M O B I L E — T o L iv e r p o o l— Ja n . 15— P la n e t M a rs, 1 0 ,0 1 5 ___________
10,015
P E N S A C O L A -— T o H a v r e — Jan. 12— C y c le , 4 ,3 5 6 ___________________
4,356T o B re m e n — Jan . 14— A u g u s t B e lm o n t , 1 2 ,3 5 3 ________________
12,353
S A V A N N A H — T o G o tte n b u r g — Jan . 18— L ic h te n fe ls , 2 0 0 ______l . _
200
T o B rem en — Ja n . 14— L u d g a te , 5 ,5 7 4 ____ Jan . 18— L ic h te n fe ls ,
1 1 ,8 4 1 _____________________________________________________________
17,415
T o H a m b u r g — Jan . 18— L ich te n fe ls, 9 6 9 ________________________
969
T o R e v a l— Ja n . 14— L u d g a t e , 4 0 0 ____ Jan . 18— L ic h te n fe ls , 307
707
T o N o rr k o p in g — Ja n . 18— L ic h te n fe ls , 1 6 3 _______________________
163
T o M a lm o — Ja n . 18— L ic h t e n fe ls , 1 0 0 ____________________________
100
T o B a rc e lo n a — Jan . 14— H e rm in e , 5 ,5 6 7 ________________________
5 ,5 6 7
T o T rie ste — Jan . 14— -H erm in e, 1 ,9 4 1 ____________________________
1,941
T o F iu m e — Jan . 14— H e rm in e , 3 9 1 _______________________________
391
T o V e n ic e — Jan . 14— H e r m in e , 5 0 ___________________________ :_____
50
B R U N S W I C K — T o L iv e r p o o l— Jan . 12— B u rrsfie ld , 1 3 ,2 5 6 _______ 1 3 ,2 5 6
W I L M I N G T O N — T o L iv e r p o o l— Ja n . 15— E n g la n d , 1 3 ,2 0 0 ________
1 3 ,200
N O R F O L K — T o H a m b u r g — J a n . 11— A lb a n o , 3 0 9 ____ Ja n . 12—
C ra n e , 4 6 _________________________________________________________
355
B O S T O N — T o L iv e r p o o l— J a n . 14— C a rp a th ia , 3 ,1 3 5 ; S a c h e m , 632
____ Ja n . 17— C y m r ic , 2 ,9 4 3 _____________________________________
6,7 1 0
T o R o t t e r d a m — Ja n . 8— F lo r e n c e , 2 5 0 ___________________________
250
T o G e n o a — Jan . 11— C a n o p ic, 1 ,8 3 0 ______________________________
1,830
T o Y a r m o u t h — Ja n . 2— B o s t o n , 2 9 4 ______________________________
294
B A L T I M O R E — T o L iv e r p o o l— Jan . 11— V e d a m o r e , 2 ,5 8 3 __________
2,5 8 3
T o B rem en — Jan . 11— M ain , 3 ,1 4 8 _____ __________________________
3 ,1 4 8
T o H a m b u rg — Ja n . 12— B a ta v ia , 1 0 0 ____________________________
100
S A N F R A N C I S C O — T o J a p a n — Ja n . 17— C o p tic , 2 ,5 6 5 ____________
2 ,5 6 5
T A C O M A — T o J a p a n — Ja n . 11— T r e m o n t , 4 ,8 1 0 ____________________
4 ,8 1 0
T o t a l________________ ______ ________ ______________ _________________ . .3 2 3 ,5 4 1

The particulars of the foregoing shipments for the week,
arranged in our usual form, are as follows:
G reat F r e n c h G er- — O th .E u rop e—- M c x -.
B r ita in , p orts, m a n y . N orth . S ou th. &.c. J a p a n .
T otal.
2,482
____
____
3,3 2 9
800
...
9 ,6 8 0
N e w Y o r k ______ 3,0 6 9
N e w O r l e a n s .- .3 0 ,8 6 1 20,7 8 4 22,891
2 ,9 5 0
6,9 7 0
...
...
8 4 ,4 5 6
G a l v e s t o n ______68,4 6 0
6,967 3 3 ,0 1 4
252 9 ,2 7 5
...
...
1 17 ,968
P o r t A r t h u r ____ 8,109
______
____
____
____
___
___
8,1 0 9
M o b i l e ______. . . 1 0 , 0 1 5
_____
____
____
____
...
...
1 0 ,0 1 5
P e n s a c o l a ______ ____
4 ,3 5 6 12,353
____
____
___
___
16,709
S a v a n n a h ______ ____
____ 18,384
1,170
7,9 4 9
...
...
2 7 ,503
B r u n s w i c k ____ 13,256
_____
____
____
____
___
___
1 3 ,2 5 6
W ilm in g t o n ____ 13,200
_____
____
____
____
___
___
13,200
N o r fo lk ...............
........
........
355
. . .
____
___
___
355
B o s to n ________ 6 ,7 1 0
______
____
250
1,830
294
...
9 ,0 8 4
____
3,2 4 8
____
____
...
...
5,831
B a lt i m o r e ______ 2,5 8 3
San F r a n c i s c o .. ................................. .......
........
.........
...... 2,5 6 5
2,5 6 5
T a c o m a ________
___ __________________
____
____
___ 4,8 1 0
4 ,8 1 0
T o t a l ............. 1 56 .263 34,5 8 9 9 0 ,2 4 5

4 ,6 2 2 2 9 ,3 5 3 1,094 7 ,3 7 5

3 23 ,541

The exports to Japan since Sept. 1 have been 102,550 bales
from Pacific ports and 10,000 bales from Galveston.
Cotton freights at New York the past week have been as
follows, quotations being in cents per 100 lbs.:
L i v e r p o o l ________ c.
M anch ester _____ c.
H a v r e _______ _____c.
B r e m e n ___________ c.
H a m b u r g ____ __c.
A n tw e r p __________ c.
G h e n t, v ia A n t ___ c.
R e v a l, I n d ir e ct___ c.
R e v a l, v ia Canal _ .c .
B a r c e l o n a ________ c.
G e n o a ____________ c.
T rie ste ___________ c.
J a p a n _____________ c.

Sat.
17
17
22 34
20
25
20
26
28
30
23
32
45

M on.
17
17
22X
20
25
20
26
28

T u es.
17
17
22 X
20
25
20
26
28

W ed.
17
17
22 X
20
25
20
26
28

Th urs.
17
17
22 X
20
25
20
26
28

F r i.
17
17
22 X
20
25
20
26
28

30
23
32
45

30
23
32
45

30
23
32
45

30
23
32
45

30
23
32
45

_

LIVERPOOL.-—By cable from Liverpool we have the following statement of the week’s sales, stocks, &c., at that portr
D e c . 28.
Sales o f th e w e e k _____ . . b a l e s . 2 0 ,0 0 0
O f w h ic h s p e cu la to rs to o k . .
1,000
O f w h ic h e x p o r te r s t o o k . . . .
1,000
S ales, A m e r ic a n ______
18,000
14,000
A c tu a l e x p o r t _________
F o r w a r d e d ____ _______
6 6 ,0 0 0
T o ta l s t o c k — E s tim a te d - ._
70 0 ,0 0 0
O f w h ich A m erican-— E s t . - .6 2 0 ,0 0 0
T o t a l im p o r t o f th e w eek
2 0 8 ,0 0 0
O f w h ic h A m e rica n
171,000
3 9 8 ,0 0 0
A m o u n t a f lo a t . _____
O f w h ic h A m e rica n ----------- . .3 2 1 ,0 0 0

J a n . 4.
3 6 ,0 0 0
2 ,0 0 0
1,000
3 1 ,0 0 0
8 ,0 0 0
94,0 0 0
7 4 9 ,0 0 0
657 ,0 0 0
152 ,000
119 ,000
4 1 7 ,0 0 0
3 4 2 ,0 0 0

J a n . 11.
8 5 ,0 0 0
3 ,0 0 0
4 ,0 0 0
7 6 ,0 0 0
19,000
1 04 ,000
7 4 5 ,0 0 0
6 4 3 ,0 0 0
119 ,000
8 2 ,0 0 0
4 9 3 ,0 0 0
41 8 ,0 0 0

J a n . 18.
71 ,0 0 0
2 ,0 0 0
2 ,0 0 0
62 ,0 0 0 '
2 0 ,0 0 0
112 ,0 0 0
7 9 0 ,0 0 0
686,00017 7 ,0 0 0
1 3 8 ,0 0 0
5 0 4 ,0 0 0
432,000-

The tone of the Liverpool market for spots and futures
each day of the past week and the daily closing prices of
spot cotton have been as follows:
Spot.
Market,
12:15
P. M.

1
J

Saturday.

M onday.

Tuesday.

Wednesday Thursday.

Friday.

Large
business
doing.

Good
demand.

Good
demand.

G ood
demand.

Quieter.

G ood
demand.

M id.U pl’ds

5.94

5.86

5.79

5.84

5.82

5.86

S a le s _____
Spec.& exp.

10,000
1,000

12,000
1,000

10,000
500

18.000
1,000

10,000
1,000

8,000
1,000

Futures.
Market
1
opened
)

Quiet at
2 points
decline.

Steady at
714 @8
pts. dec.

Market,
4
P. M.

1 St’ dy.unch. Easy at
} @ 2 pts. 9 X @ 1 2 ^
J decline.
pts. dec.

Steady at Irregular, St’y . unch.
5 points unch. @ l @
1 pt.
decline.
advance.
pt. adv.

Qniet at
3 points,
decline.

Firm at
3@ 4^
pts. adv.

Q uiet at
2 @ 2X
pts. dec.

B ’rely st’ y Steady at
5H @ 6
at AX @ 6
pts. adv.
pts. dec.

The prices of futures at Liverpool for each day are given
below. Prices are on the basis of Uplands, Good Ordinary
clause, unless otherwise stated.

THE CHRONICLE.

170
T h e p r ice s are given in pen ce and 1 0 0 ths.
Sat.
J a n . 12
to
J a n . 18.

12%
p .m .

d.
Jan uary
J a n .- F e b F e b .-M c h .
M c h .-A p r .
A p r .-M a y
M a y -J u n e
J u n e -J u ly —
J u ly -A u g .
A u g .- S e p . ____
S e p .-O e t .
O c t .-N o v .
N o v .- D e c . -------

M on.

T h u s, 5 58 m ean s 5 5 8 -1 0 0 d .
W ed.

T h u rs.

Fri.

4
4
4
12%
4
12%
12 %
12 %
4
1234
p .m . p .m . Tj. m . p .m . p .m . p .m . p .m . p .m . p .m . p,m .

12%
p .m .
5
5
5
5
5
5
5
5
5
5
5
5

T u e s.

d.
58 34
58
57
55%
55
55
54
53
47
41
35 %
35

d.
50

d.
d.
4634 4334
43
44 V, 42
4314 41
43
40%
43
40 34
42 34 40
42
39 %
36 34 34
30 34 28 V,
26
24 V
2 5 % 24

19 y 46

47 V,
47
46 %
4 6 f4
46
44 34
38 34
33
28 34
28

d.
51
50 %
48
46 V
46
46
45%
45%
39 34
34
29 %
29

d.
48
47 V>
45
44
43 V,
43 V
43
42
37
31 ^
27
26%

d.
45 34
45
42
40 34
40
40
39 %
39
34 34
29
25
24 34

d.
45 34
45
42
40 34
4oy
40
39 y
39
34 %
29 34
25 34
25

d.
51%
51
48
46K
46
46
45 34
45
40
35
31
30 34

d.
49 34
49
46
44 Vo
44
43 VC
43
42 V,
37y
33 W
29 y
29

d.
49%
49
46
44 V,
44
43 V,
43
42
37
33
29
28 34

BREADSTUFFS.
Friday, Jan. 18 1907.
Prices for wheat flour have remained about stationary,
despite the advance in wheat. Trading has continued on a
very restricted scale, buyers taking only enough flour to fill
immediate requirements. Millers, however, have refused
to make concessions, which was not surprising in view of
the strength of wheat. Export business has been stagnant
and the exports from the seaboard during the week have
been small. Corn meal has ruled quiet and steady. Small
export sales have been reported of late. Rye flour has been
quiet and steady.
Wheat has advanced, partly because of higher foreign
markets, continued small receipts at the Northwest and a
somewhat better export demand. Moreover, it has been
affected more or less by the strength in other grain, notably
oats. This has offset favorable reports in regard to the
condition of the winter wheat in most sections of the belt
and an estimated increase in the Argentine crop over that
of last year of some 1 5% . Needed snows have fallen in
parts of the West, but car-shortage continues at.the North­
west, so much so that the President has suggested, it is
understood, that the Inter-State Commerce Commission
should be empowered to deal with the matter. The crop
movement in that section is so small as to be quite an im­
portant factor in the general situation. Moreover, the
available supply in the world decreased last week 2,217,000
bushels, as against a decrease for the corresponding week
last year of only 71,000 bushels. Reported damage by
chinch bugs in Texas has also had some influence at times,
though not to any marked extent. But what with a light
movement— the primary receipts have at times been little
more than half what they were for the corresponding day
last year— stronger European markets, the firmness of coarse
grains, a somewhat greater readiness on the part of exporters
to purchase, and rather stronger statistics, the trend of prices
has been upward, though the world’s supplies continue to be
well above those of a year ago and the speculation has not
been at all active, the new year opening, indeed, with much
the sluggishness in this respect which characterized most of
last year. To-day there was a decline, owing to profit
taking, a reaction in corn and oats, generally favorable
crop reports and small exports.
D A I L Y C L O S IN G P R I C E S O F W H E A T F U T U R E S I N N E W Y O R K .
Sat. M o n . T u es. W ed . Th urs.
F r i.
80K
8034
8034 81
81 34
N o . 2 re d w in t e r ________ ______ ______ 8034
M a y d e liv e r y In e le v a t o r ____________ 8 2 %
82%
8234
82
8334
82 %
J u ly d e liv e r y in e le v a t o r ____________ 8 2 %
82%
81%
81%
8234
8234
D A I L Y C L O S IN G P R I C E S O F W H E A T F U T U R E S I N C H IC A G O .
Sat. M o n . T u es. W ed. Th urs.
F ri.
J a n u a r y d e liv e r y in e le v a t o r ________ 7 2 %
72 %
72
72%
73
72%
M a y d e liv e r y in e l e v a t o r -------------------7 6 %
7634
76%
76%
77
76%
7634
75%
75%
76%
76%
J u ly d e liv e ry in e le v a t o r ........ .............. 7 6 %

Indian corn futures have advanced with the trading on a
larger scale than for some time past. The stimulating fac­
tors have been the continued small receipts at Chicago,
especially of contract grade, and the advance and activity
in oats. At times during the week there has been no con­
tract grade in the Chicago arrivals, and this fact, in view
of the smallness of contract stocks there, has caused con­
siderable covering among nervous shorts. The weather,
too, has, in the main, been unsettled and mild, and therefore
unfavorable for drying and moving the crop. Commission
house business has been more active and the cash market
has shown an upward tendency, with an increased export
trade at times. To-day prices were firm early on wet weather
at the West, small receipts and covering of shorts, but many
were disposed to take profits and later on the market weak­
ened.
D A I L Y C L O S IN G O F N O . 2 M I X E D C O R N IN N E W Y O R K .
Sat. M o n . T u es. W ed . T h urs.
F ri.
C ash c o r n ............... ................ ..................... 53
53
53
53
53%
53%
J a n u a r y d e liv e r y in e le v a t o r ............... 52 %
52 %
52 %
53 %
54
54
M a y d e liv e r y In e le v a t o r ____________ 5 0 %
50 %
50%
51%
52
52
J u ly d e liv e r y in e le v a t o r ____________ 50 %
50%
51
51%
51%
52
D A I L Y C L O S IN G P R I C E S O F C O R N F U T U R E S IN C H IC A G O .
Sat. M o n . T u es . W ed. T hurs.
F ri.
J a n u a r y d e liv e r y In e le v a t o r ________ 39 %
39 %
40
40 %
41 %
41%
M a y d e liv e ry In e le v a t o r ____________ 4 3 %
43%
4 3 % ■4 4 %
45%
44%
J u ly d e liv e ry in e le v a t o r ____________ 4 3 %
43%
43%
44%
45
44%

Oats for future delivery in the Western market have ad­
vanced quite sharply under the stimulus of active buying
by prominent Chicago operators who have been working in




[V o l.

l x x x iy

.

the interest of higher prices, covering by frightened shorts,
brisk commission house buying and an absence of selling
pressure. The trading has been on a larger scale than that
witnessed in wheat or corn. Bulls have been favored by
small receipts, the relatively small stocks of contract grade
at Chicago and unfavorable weather for marketing the crop.
Then, too, the cash demand at the West has been active at
steadily advancing quotations. To-day the market was
firmer early, owing to continued small receipts, light offerings
and covering of shorts, but later on a reaction occurred due
to realizing.
D A I L Y C L O S IN G P R I C E S O F O A T S I N N E W Y O R K .
Sat.
M on.
T u es .
W ed .
T h u rs.
F r i.
M ix e d , 26 t o
32 l b s - _ 39
39
3 9 -3 9 %
3 9 % -4 0
4 0 -4 0 %
40%
W h it e c lip ­
p e d , 36 t o
38 lb s - - - 4 0 % - 4 2 4 0 3 ^ -4 2 %
41-43
4 1 % -4 3 % 4 2 % -4 4
4134-44
D A I L Y C L O S IN G P R I C E S O F N O . 2 M I X E D O A T S IN C H IC A G O .
S a t. M o n . T u es. W e d . T h urs.
F r i.
35
35%
J a n u a ry d e liv e ry in e le v a t o r ________ 3 4 %
34%
34%
35 34
37%
38
37%
M a y d e liv e ry in e le v a t o r ____________ 36 34 36 %
37
34%
J u ly d e liv e r y In e le v a t o r ____________ 3 3 %
33%
33%
34 34 3 5 %

The following are the closing quotations:
L o w g r a d e s ______________$2
S e c o n d c le a rs___________ 2
C l e a r s ___________________ 3
S tr a ig h ts________________ 3
P a te n t, s p r in g __________ 3
P a te n t, w in t e r __________ 3
K an sas p a t e n t s ________ 3

FLOUR.
75 @ $3 00 K an sas s tr a ig h ts _______ $3 55 i@ 5 3
3
50 i 2 60 K a n sas c le a rs ___________ 3 15 i
40i
3 65 B le n d e d p a t e n t s ________ 4 40 i 4
65 i 3 75 R y e flo u r ________________ 3 75 i 4
2
80 i 4 20 B u ck w h e a t flo u r _______ 2 10 i
60 i 3 85 G ra h am flo u r ___________ 2 90 i 3
80 < 3 9 0 f C o r m n e a l _______________ 2 65 © 2

75
30
90
20
25
75
75

G R A IN .
W h e a t, p e r b u s h .—
c.
I C o rn , p er b u s h .—
c.
N . D u lu th , N o . 1___________
8 9 ,% ;
N o . 2 m ix e d ___________ _f .o .b .5 3 34
N o . 2 y e llo w , n e w _____ _f . o . b . 5 1 %
N . D u lu th , N o . 2 ______f .o . b . 8 8 M l
R e d w in te r, N o . 2 ____ f .o . b . 81 % | N o . 2 w h ite , n e w ________f . o . b . 5134
H a rd
“
"
f .o . b . 85 % |R y e , per b u s h .—
O ats— M ix e d , p e r b u s h .—
I N o . 2 W e s t e r n --------------- -69 @ 71
N o . 2 w h it e _______________ 42 @ 4 3 34
S ta te a n d J e r s e y _______ N o m in a l.
N o . 2 m ix e d __________
40 34 I B a rle y — W e s te rn _______ N o m in a l.
N o . 2 w h ite , c lip p e d - .4 1 3 4 @ 4 4
| F e e d in g ------------------------- -N o m in a l.

The statement of the movement of breadstuffs to market as
indicated below are prepared by us from figures collected by
the New York Produce Exchange. The receipts at Western
lake and river ports for the week ending last Saturday and
since Aug. 1 for each of the last three years, have been:
Receipts at—

Flour.

Barley.

Oats.

Com .

Wheat.

R ye.

bbls.VMUbs .bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bush. 48 lbs. bu. 56 lbs.
512.765
1,646,239
40.000
C h ica go____
2,520,323
511,462
163,390
396,000
27.000
235,600
187.000
M ilw aukee-178.000
22,050
18,142
281495
D uluth.........
562,435
261,300
41,800
483,180
M inneapolis.
” l53",900
1,696,310
2,400
50,100
T o le d o _____
253.000
46,000
D etroit_____
125,929
20,620
8,194
2,400
1,000
Cleveland___
180,992
79,547
1,421
8.940
12,000
100,100
St. Louis___
534.400
1,032,900
63,030
177.000
7,000
94,000
P e o r ia -------235,500
248,200
15,550
9,900
Kansas C ity.
134.400
183.000
548.000

10,102

Total week
Same wk. ’06
Same wk. '05

267,841
182,696
207,279

3,746,241
4,119,872
3,235,260

Since Aug. 1
1 9 0 6 -0 7 .-. 10,919,205 140,852,351
1905-06— - 10,507,977 153,798,537
1904-05—
9.275,102 142.649,366

4,885,244
4,135,969
4.166.536

149,342
124,838
124,754

1,374,269
1,353,420
951,749

3,448,081
3,522,692
2,206,566

88,872,432 106,891,253 41,262,339 4,581,409
92,728,090 127,877,852 51.461,458 5,338,190
91,247,977 91.741,693 46,105,228 4.890,063

Total receipts of flour and grain at the seaboard ports for
the week ended Jan. 12 1907 follows:
Receipts at—
New Y o r k ----------B o s t o n ....... ............
Portland..................
P h iladelph ia .........
Baltim ore------------R ic h m o n d ..............
Newport News____
New O rlean s_____
Galveston------------N orfolk----------------M o b ile ----------------Total w eek.........
W eek 1906_______

35,239
3,048
5,874
6,734

Wheat.
bush.
742,000
376,966
362,941
352,168
42,113
14,140
_______
47,500
91,000
_______
5,499
_________
149,846

C om ,
bush.
646,075
120,480
_________
233,339
733,865
20,214
_________
494,000
185,000
_________
2,198
13,263

440,683
315,688

2,184,173
2,287,140

2,448,434
6,744,850

Flour,
bbls.
136,388
47,605
2,000
82,252
63,088
3,850
43,598
11,007

Oats.
bush.
634,500
109,591
9,532
86,575
42,845
22,682
_________
44,000

Barley,
bush.
73,200
_____
37,394
3,000

R ye,
bush.
9.750
850
20,134
1,072

____

_____
87,233
2,991
9,528

41,403

1,049,477
2,182,886

167,911
345,987

12,914

37,806
47,983

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

Total receipts at ports from Jan. 1 to Jan. 12 compare
as follows for four years:
Receipts oj—
F lo u r ____ - ....................... bbls.

1907.
814,293

1906.
709,458

1905.
534,876

1904.
1,131,018

W h eat_________________bush.
C om _________________________
O ats..............................................
Barley .................... - .................
R y e ...............................................

4,092,625
4,752,861
2,031,103
256,482
62,233

4,555,591
13,081,668
3,796,937
639,719
94,008

1,101,265
8,559,636
1,095,818
273,898
20,277

5,286,767
3,872,084
2,000,382
276,598
120,078

Total gra in -........................... 11,195,304

22,167,923

11,070,894

11,555,9

The exports from the several seaboard ports for the week
ending Jan. 12 1907 are shown in the annexed statement:
Wheat,
Exports Jrom—
bush.
New Y o r k ---------- 804,953
Portland________ 362,941
B o s t o n ....... .......... 242,138
P h iladelph ia------ 503,571
Baltim ore----------- 155,768
N orfolk............—
----------N ewport News—
______
New Orleans_____
______
Galveston......... ..
275,405
M obile....... .............
............
St. John, N. B . . . 149,846

Com ,
bush.
338,664
35,836
69,670
298,248
90,897
112,503
13,263

Flour,
bbls.
62,269
2,000
34,738
49,688
40,930
35,239
43.598
10,080
9,482
5,874
6,734

Oats,
bush.
35.080
9,532

R ye,
bush.
41,675
_____
..........

Barley,
bush.
5,833
37,394
41,044

" 1,914
50

“ 718

5,391
2,991
9.528

Total w eek____2,494,622
959.0S1 300,632
64,486
Same tim ejl9 0 6 -.2,202,931 4.893,822 338.360 1,684,068

Peas,
bush.
4,726
2,271

555
..........................
.........
41.403
41,675 125.674
8,270
. . . . . . 229,0443 18.262

THE CHRONICLE.

J a n . 19 1907.J

171

generally below the market, however, and at prices which
manufacturers do not feel inclined to accept, owing to the
condition of the home trade. Export buyers are looking
- Wheat—
-C o m -F lo u rSince
Stnce
Since
more at the decline in the cotton market at the moment
Week
July 1
Week
July 1
Week
July 1
than at the strong statistical condition of the goods market.
1906.
Exports for week and Jan. 12.
1906. Jan. 12.
1906. Jan. 12.
bush.
bush.
since July I to—
bbls.
bbls.
bush.
bush.
It is stated on good authority that the accumulations of
403,079 10,901,365
United K in g d o m ... 138,622 3.463.937 1,013,257 29,853,643
export goods in this country are much smaller than had been
512,301 15,089,514
C o n t i n e n t ............... 99,167 1,453.432’1,467,573 29,072,163
figured. Heavy brown drills and sheetings for the home
1,014
292,553
So. & Cent. A m e r ... 23,441
410.055
13.792
152,339
41.857 1,104,121
W est I n d ie s _______ 38,876
779,227
............
8.110
trade are firm in spite of efforts brought to bear upon sellers
300
51.027
B rit. N o. Am . C o ls ..
50
56,943
............
8,000
to accept reductions. Light-weight sheetings are in good
530
152,427
476
133,123
............
376,803
Other Countries____
demand. Buyers are willing to pay J^c. over the current
T otal______ _____ 300,632 6,296,717 2,494,622 59,471.058
959.081 27.591.007
quotation for spot bleached goods, where these are obtainable.
Total 1905-06______ 338,360 5,732,761 2,202,931 29,843,292 4,893.822 48.630,079
Coarse, colored cotton goods are well sold up for the next four
The visible supply of grain, comprising the stocks in months. Linings are seriously affected by the difficulty of
granary at the principal points of accumulation at lake and securing gray goods. Napped goods have been opened at
seaboard ports Jan. 12 1907, was as follows:
from 5 to 7 ^ % over last season’s prices and have sold freely.
Wheat,
C om ,
Oats,
R ye,
Barley,
An enormous business is being transacted in prints prior to
bush.
bush.
bush.
bush.
bush.
the advances going into effect. Ginghams are very scarce
New Y o r k ....................... 1,789,000
616,000
636,000
5,000
44,000
afloat_______
______
and firm. Narrow print cloths are slightly higher and a
B o s t o n ________________
286,000
105.000
21,000
large business has been done in wide goods.
Ph iladelph ia__________
670,000
130.000
136.000
The destination of these exports for the week and since
July 1 1906 is as below:

355,000
Baltim ore_____________
New O rleans__________
421.000
Galveston_____________
560.000
40,000
Montreal______________
T o r o n t o ______________
17,000
B u f f a l o ........................... 4,908,000
afloat.............. 5,074,000
T o l e d o .............................
860,000
afloat_______
______
D e tro it.............................
622.000
afloat_______
______
Chicago............- ...............10,030,000
afloat_______
____ _
M ilw aukee------------------593,000
afloat_______
______
F ort W illiam .................. 1,001,000
Port A rth u r.. ........... .. . 1,574,000
afloat_______
490.000
D u lu th ............................. 3.036,000
afloat_______
______
M inneapolis___________ 5.900,000
St. L o u i s . .. ..................... 3,343,000
afloat_______
______
Kansas City----------------- 3,664,000
Peoria....... ........................
208,000
In d ia n a p olis--------------258.000
On Mississippi R iver—
............
On L a k e s ----------------------------On Canal and R iv er ___
______
Total
T otal
Total
Total
Total
Total

Jan.
Jan.
Jan.
Jan.
Jan.
Jan

12
5
13
14
16
17

1907.-46.299,000
1907.-45,768,000
1906.-47,021,000
1905.-39,585,000
1904.-40,376,000
1903.-49,727,000

967.000
768.000
160.000
43,000

ri~6,o65
494.666
3S9,66o

164.000
177.000

125.000
80,000

101’,odd

8,000

435.000
1,606,000
1,029.000
51,000

741.666

473.000

200.000

1,275,000
380,000

18,000
32’,066
533',000

25,000
399_,000

235’,000

593.000

'sV.ooo

716,000

140,000

1S7.000

260,000
435,000

3,827,000
525.000

80,000
43,000

5’ i Y,666
16.000

638,000
265,000
137,000

75,000
1.054,000
26.000

18,000
______

6.499.000
5.823.000
13.761.000
11.279.000
6.264.000
7.050.000

12.567.000 1.751.000
12.855.000 1.658.000
27.242.000 2.353.000
20.300.000 1.773.000
8,632,000 1.275.000
4.196,000 r, 1.071,000

2.923.000
2.838.000
6.038.000
6.371.000
5.142.000
2.362.000

FOREIGN D R Y GOODS.— Imported woolen and worsted
dress goods have been in good demand and business is satis­
factory. Silks and ribbons are firm. Linens continue
strong. Burlaps are at top figures but the demand has been
seasonably small.

T H E DRY GOODS T R A D E .
New Y ork, Friday Night, Jan. 18 1907.
The holding of various meetings of associations connected
with the textile trades in this city during the past week
brought a large number of buyers to town, and their presence
was reflected in an increased volume of business. While
buying of cotton goods was mostly for near-by deliveries,
for which premiums were gladly paid when they were in
any way available, there was also some good purchasing of
fall supplies by some of the larger houses, who thus indi­
cated their confidence in the future of the market. The de
mand for spot goods was due in great part to the slowness
of deliveries on existing contracts and the larger volume of
retail trade than had been calculated when original purchases
were made. The inquiries that developed in this way
brought out very forcibly the scarcity existing in all direc­
tions. It would be easily possible to advance near-by prices
etill farther in view of this spot demand, but sellers are pur­
suing a conservative policy and hesitate to check the retail
demand by unduly raising values. The jobbing trade dur
ing the week has been very heavy, especially in prints, and
jobbers who have not been able to satisfy their demand in
the primary market have themselves been buying from oth
ers. The movement to China has been larger than gener­
ally thought, and further inquiries have been received^dur
ing the week; but prices offered are generally too low. ~ The
more seasonable weather has had a favorable effect upon' the
heavy-weight woolen and worsted goods_market. j ,
DOMESTIC COTTON^GOODS.— The^exports^of^cotton
goods from this port for the week ending Jan. 12 were 3,321
packages, valued at $316,906, their destintaion being to the
points specified in the tables below:

T o t a l ________

g

as

o ,,
2
c \
3«
*0

o

53

oo | ©
I cn
us £k I H *vj {o o M
© m
m ^ co © ^
©
I © 4k ^1 C* ©

CO os

H £
4k

© ©
© Vi

Go cn to © 4k

H3

o I ©

to t- 1 to

© I © 4k © to ©

COI oo © cn© ©CO
CD I © © ©

M u

3 «
H

© CO
•vl o
© 4*

*©* 0
co0

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© 00 -si •
O m ca i

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to
t\9 -s]

4* 4- © © 4-

tO ts5

Oo cn
^ CO
© CO H to OOCDo
CS OJ Vi oo © ©

ci o ci a h

24,068

o s,
s e.£

c <
3 e.

a .*■

© *4
•vl >u
© ©

O
id

os

>
a
H
W
§
H
t)

-o to
§ to
e

s

The value of these New York exports since Jan. 1 has been
$479,202 in 1907, against $1,216,912 in 1906.
Sales to China on the current movement have included
such goods as standard and 3-yard drills and 3 and 4 yard
sheetings, and inquiries for similar lines have been received
in considerable volume during the week. They have been




a

© ©
©
00
M -si © © © © *^

917
140
841
1,312
2,087

■......................................3 , 3 2 1 ' " 5 ,6 4 8 T " - 16,903

Importations and Warehouse Withdrawals of Dry Goods.
The importations and warehouse withdrawals of dry goods
at this port for the week ending January 12 1907 and since
Jan. 1 1907, and for the corresponding periods of last year,
are as follows:

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13

N ew Y o r k to J a n . 12.
G rea t B r i t a i n ________________________
O th e r E u r o p e a n _____________________
C h in a _________________________________
I n d i a ________________________________
75
A r a b ia -----------------------------------------------A f r i c a --------------------------------------------------------W e s t I n d ie s ----------------------------------- -----------491
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C en tral A m e r ic a ___________________________
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662
O th er C o u n trie s ____ __________ ___________ 1,503

W OOLEN GOODS.— A good many more lines of medium
quality men’s wear woolen and worsted heavy-weight goods
have been opened during the week, and these have met
with a fair degree of success. The weather, however, has
been very much against the market, although it is hoped
that the more wintry spell at the end of the week will effect
an improvement in the near future. The finer lines of goods
have not yet t>een shown to any extent, but a good demand
is expected for these. The general feeling, however, is that
low-grade and medium goods will not be so successful this
season as they have been in the recent past. Only a few
lines of mercerized worsteds have so far been opened. Busi­
ness to date has been unevenly distributed and some manu­
facturers have had the satisfaction of being able to withdraw
well-sold-up lines, while others have been very discouraged
at results. The demand for cassimeres has been one of the
features of the market. Overcoatings have been adversely
affected by the weather, but here also some lines have en­
joyed a fair degree of popularity. Business in dress goods
has been good and heavy orders have been placed for fall
broadcloths, which promise again to be the leaders in the
market. Duplicating is slow but a steady demand contin­
ues for voiles, panamas and taffetas among light-weight
goods.

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172

gjtftTS

THE CHRONICLE

QlTY p£1WTiW£flT.

Bond Proposals and Negotiations tliis week
have been as follows:

[V ol.

l x x x iy .

Bloomington, Franklin County, Neb— Bond Election.—
The Town Council has called an electionfor Jan. 22 to vote
on the question of issuing $14,000 water-worksbonds.
Bonds Invalid.— An issue of $4,000 city-hall bonds re­
cently voted has been declared invalid, according to accounts
published in local papers.
Boston, Thomas County, Ga.— Bonds Not Sold.— No sale
has yet been made of the $10,500 5 % electric-light bonds
described in V. 83, p. 1426.
Buffalo, N. Y .— Bond O ffering.— Proposals will be received
until 12 m. Jan. 22 by George M. Zimmerman, City Comp­
troller, for $300,000 4 % registered tax-scrip bonds (nontaxable). Authority Chapter 45 of the Laws of the State of
New York, passed March 16 1903, and resolution adopted
by the Board of Aldermen Dec. 27 1906, by the Board of
Councilmen Dec. 28 190o and approved by the Mayor Jan. 7
1907. Date of bonds Feb. 1 1907. Interest semi-annually
at the City Comptroller’s office or at the Gallatin National
Bank in New York City. Maturity $30,000 yearly on Feb. 1
from 1908 to 1917 inclusive. Each bid must be accom­
panied by a certified check on an incorporated bank or trust
company for 2 % of the bonds bid for, payable to the City
Comptroller.
Camden, N. J.— Bond Sale.— On Jan. 11 the $200,000 4 %
30-year school bonds dated Feb. 1 1907 and described in
V. 84, p. 61, were awarded to J. D. Everitt & Co. of New
York City at 101.137— a basis of about 3.956% . Following
are the bids:

Adams County (P. O. Natchez), Miss.— Bond Sale.— An
issue of $13,500 bonds has been awarded, it is stated, to the
First Natchez Bank of Natchez.
Alba (P. 0 . Annawan), Henry County, III.— Bonds Not
Sold.— Bond Offering.— No award was made on Jan. 12 of
-53,500 5 % bridge-building bonds offered on that day.
The time for receiving bids has been extended to Feb. 1.
Denominations: six bonds of $500 each and two bonds of
$250 each. Interest semi-annual. Maturity from 1909 to
1916 inclusive.
Alexandria, Rapides County, L a.— Bond Election.— On
Feb. 12 an election will be held to vote on the question of
issuing the $30,000 city-hall, the $16,000 sewer-systemextension, the $7,000 water-system extension and the $2,000
electric-light-system-extension 5 % 40-year bonds mentioned
in Y . 84, p. 116. Interest semi-annual.
Alliance, Ohio.— Bond Sale.— On Jan. 11 the $3,600 sewerextension and $6,500 cenietery-improvement 4 % 18-year
bonds described in V. 83, p. 1604, were awarded to Hayden,
Miller & Co. of Cleveland for $3,675 50 (102.097) and $6,636
(102.092) respectively. This is on a basis of about 3.84% .
Amite County (P. O. Liberty), Miss.— Bond Sale.— On J. D . E v e ritt & C o ., N . Y . . 101 .137 |N. W . H arris & C o ., N . Y ___ 100.779
Jan. 11 this county, it is stated, awarded $10,000 convict- H o w a r d K . S to k e s , N . Y ___ 101 .032 |A . B . L e a ch & C o ., N . Y _____100.635
farm bonds to A . B. Leach & Co. of Chicago at 100.26, W . J. H a y e s & S o n s , B o s t . . 100.77551
Bond Sale.— On Dec. 21 1906 a $20,000 3J^% 30-year
accrued interest and bonds free of charge.
fire-house refunding bond dated Jan. 1 1907 was awarded
Ashland, Ohio.— Bond Offering.— Proposals will be re­
to the Commissioners of the Sinking Fund at par. In­
ceived until 12 m ., Feb. 11, by the Village Clerk, for $26,600
terest semi-annual.
5 % Walnut Street improvement bonds. Authority Section
Carbondale, Lackawanna County, Pa.— Bond Sale.— On
2835 of the Revised Statutes. Denomination $1,900. Date
Sept. 1 1906. Interest semi-annual. Maturity one bond Dec. 31 1906 the $20,000 4 % 1-20-year (serial) coupon
each six months from March 1 1908 to Sept. 1 1914 inclusive. Main Street paving and bridge-building bonds dated Nov. 1
1906 and described in V. 83, p. 1426, were awarded to Otis &
Atlantic City, N. J .— Bond Offering.— Proposals will be Hough of Cleveland at 100.768 and accrued interest— a basis
received until 12 m. Feb. 9 by A. M. Heston, City Comp­ of about 3.909% . Following are the bids:
O tis & H o u g h , C le v e la n d .$ 20 ,153 7 5 1D e n is o n & F a r n s w o r th ,C le v $ 2 0 ,001 46
troller, for the following bonds:
$ 3 0 0 ,0 0 0 4 > ^ % w a ter b o n d s d a te d J u ly 1 1906.
M a tu r ity J u ly 1 1941.
D e p o sit o f $ 5 ,000 re q u ir e d .
1 7 5 ,0 0 0 4 H % p a v in g b o n d s , d a te d Ja n . 1 190 7. M a tu r ity Ja n . 1 1927.
D e p o sit o f $ 3 ,0 0 0 r e q u ire d .
7 5 .0 0 0 4 } 4 % p a v in g b o n d s d a te d Ja n . 1 1907.
M a tu r ity Ja n . 1 1927.
D e p o sit o f $ 1 ,500 r e q u ire d .
7 0 .0 0 0 4 % p a v in g b on d s d a te d Ju n e 1 190 5. M a tu r ity Ju n e 1 1925.
D e p o s it o f $ 1 ,5 0 0 re q u ir e d .
3 0 .0 0 0 4 % m u n icip a l h o sp ita l b o n d s d a te d S e p t. 1 190 6. M a tu rity
S ep t. 1 1936.
D e p o s it o f $ 1 ,0 0 0 re q u ir e d .

W . J. H a y e s & Sons, C leve. 2 0 ,0 1 7 0 0 1F irst N a t. B k ., C a rb o n d a le 20,0 0 0 00

Interest payable at the Hanover National Bank in New
York City. Each bid must be made on a blank form fur­
nished by the city, and must be accompanied by the above
deposit, either in cash or certified check, payable to the City
Comptroller. The legality of the bonds has been approved
by Messrs. Dillon & Hubbard of New York City, whose cer­
tificate as to legality will accompany the bonds when deliv­
ered. The Columbia Trust Co. of New York City will cer­
tify as to the genuineness of the bonds. Delivery on or about
March 1.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.

Carrizozo School District (P. O. Carrizozo), Lincoln
County, N. Mex.— Bonds Voted.— The election Dec. 29 1906
resulted in favor of the proposition to issue the $10,000 6 %
20-30-year (optional) school-building bonds mention of
which was made in V. 83, p. 1487.
Champaign County (P. O. Urbana), Ohio.— Bond Sale.—
On Jan. 14 the $8,800 4 % 2 -year (average) coupon Chil­
drens’ Home wood-farm bonds, a description of which was
given in V. 83, p. 1605, were awarded to A. F. Vance Jr.
at par. No other bids were received.
Chardon School District (P. 0 . Chardon), Geauga County,
Ohio.— Bond Election.— A resolution adopted by the Board
of Education on Dec. 11 1906 provides for an election to be
held Jan. 22 to vote on the question of issuing not exceeding
$15,000 high-school building bonds.
Charlottesville, Albemarle County, V a.— Bond Sale.— On
Jan. 15 the $140,000 4 ^ % 10-40-year (optional) coupon
reservoir bonds described in V. 84, p. 61, were awarded, it is
stated, to the Miller Manual Labor School of Albemarle
County at 100.10.

Ballard School District No. 50, King County, W ash.—
B ids.— The following bids were received on Jan. 7 for the
$70,000 20-year gold coupon building bonds awarded, as
stated in V. 84, p. 116, to the State of Washington:

Chester, Delaware County, Pa.— Bond Ordinance.— We
are advised that the ordinance providing for the $500,000
loan for street-paving, sewer-construction, public swimming
pools, bridges, fire-alarm-system and two wharves (V. 83,
p. 923) is now before the Councils.

S ta te o f W a s h in g to n (3 J£s) . .$ 7 0 ,0 0 0 I K le y b o lt e & C o ., C in. ( 5 s ) ___ $ 7 2 ,3 2 5
S e a ttle T ru s t & T itle C o .,
IC. H . C o ffin , C h ic. ( 5 s ) ----------- 72,001
S ea ttle ( 4 > ^ s ) ______________7 1 ,4 1 4 I S. A . K e a n , C h ica g o ( 5 s ) ______ 7 0 ,0 3 5
N . W . H arris & C o .,C h .(4 Ws) 7 0 ,8 4 0 1
A . B . L ea ch & C o .,C h . ( 5 s ) . . 7 3 ,4 0 0 !

Belleville, Republic County, Kan.— Bond Offering.— J. E.
Caswell, Mayor, is offering at private sale $20,000 5 % cou­
pon electric-light bonds. These securities were recently de­
clared valid by the Supreme Court; see V. 83, p. 1604.
Denomination $1,000. Date Sept. 1 1906. Interest semi­
annually at the fiscal agency in New York City. Maturity
Sept. 1 1926.
Bergen, Genessee County, N. Y .— Bond Offering.— Pro­
posals will be received until 10 a. m. Jan. 25 by the village
Clerk for $20,000 4J^% registered water bonds. Denomina­
tion $1,000. Date Feb. 1 1907. Interest annually on Aug.
1. Maturity $1,000 yearly on Aug. 1 from 1908 to 1927 in­
clusive. Certified check for 5 % of the bid required. Bonds
will be delivered Feb. 4.
Berkeley, Alameda County, Cal.— Bond Sale.— On Jan. 14
this place awarded the $100,000 municipal-wharf, $137,000
town-hall, $11,100 police-alarm-system and $50,000 firedepartment 4J^% 1-40-year (serial) bonds, dated Feb. 1
1907, voted on Nov. 3 1906, to the Los Angeles Trust Co.
of Los Angeles for $316,100, the price thus being 106.038— a
basis of about 4 .064% . Interest semi-annual.
Berne (Town), Albany County, N. Y . — Bonds Awarded in
P a rt.— This town has awarded $1,500 of the $5,000 4 %
coupon funding bonds described in V. 83, p. 1426, to Rose
Elsbee of Preston Hollow. The remainder of the bonds is
now being offered at par.




Clintonville School District (P. O. Clintonville), Venango
County, Pa.— Bond Sale.— This district has disposed of,
through J. Howard Smiley of Franklin, an issue of S4,000
4A
X % school-building bonds. Denomination $100. Date
Sept. 1 1906. Maturity S200 yearly.
Claremont, Surry County, V a.— Bond Offering.— Proposals
will be received until 1 p. m ., Feb. 5, by W . H. Haney,
Chairman Finance Committee, for $6,000 school-building
and $2,000 improvement 5 % gold coupon bonds. Denomi­
nations: 5 bonds of $100 each, 5 bonds of $500 each and 5
bonds of $1,000 each. Date Dec. 1 1906. Interest annually
at the Bank of Claremont. Maturity twenty-five years,
subject to call after ten years. Bonds are exempt from
town taxes.
Colquitt, Ga.— Bond Sale.— This place has awarded the
$6,000 5 % 1-10-year (serial) water-works bonds offered but
not sold on Feb. 15 1906 (V. 82, p. 586) at par. Denomi­
nation S600. Interest annual.
Creede (P. O. Amethyst), Colo.— Bond Offering.— Pro­
posals will be received until Feb. 4 by Eva G. Stowe, City
Clerk, for $45,000 6 % coupon water-works bonds. Date,
day of issue. Maturity twenty years, subject to call after
ten years. Bonds are exempt from taxes. Total debt, not
including this issue, $28,000. Assessed valuation for 1906,
$126,000.
Dayton, Rhea County, Tenn.— Bonds Proposed.— It is
stated that a bill will be introduced in the Legislature for
authority to issue $12,500 school-building bonds.

J a k . 19 1907.J

THE CHRONICLE-

Deal (Borough), N. J .— Bond Election.— An election will
be held in this borough Feb. 2 to vote on the question of
issuing the $75,000 4 ^ % 10-year sewer-system bonds men­
tioned in V. 83, p. 1133.
Deer River, Itasca County, Minn.— Bond Offering.— Pro­
posals will be received until 8 p . m . Jan. 29 by the Village
Council for $9,000 6 % electric-light-plant bonds. Denomi­
nation $500. Interest semi-annual. Maturity $1,000 yearly
beginning two years from date. A. D. Ingersoll is Presi­
dent of the Village Council and A. D. Brooks is Village Clerk.
Delaware County (P. O. Delaware), Ohio.— Bond Sale.—
On Jan. 15 the $102,000 4 % coupon road-improvement
bonds described in V. 84, p. 117, were awarded to local
banks at par and interest.
Dutton, Ont.— Debentures Not Sold.— No award was made
on Dec. 21 1903 of the $5,000 4 % permanent-improvement
debentures described in V. 83, p. 1488.
East Grand Forks, Polk County, Minn.— No Action Yet
Taken.— No action has yet been taken in the matter of re­
offering the $25,000 5 % 20-year coupon water bonds offered
without success Aug. 14 1905. See V. 83, p. 453.
El Cajon Valley Union High School District, Los Angeles
County, Cal.— No Action Yet Taken.— No action has yet been
taken by the Board of Supervisors in the matter of issuing
the $12,000 5 % 1-12-year (serial) school-building bonds
voted on Oct. 27 1908.
Elgin, Kane and Cook Counties, 111.— Bond Offering.—
Proposals will be received until 3 p. m. to-day (Jan. 19) by
C. F. O’Hara, City Treasurer, at the Home National Bank
in Elgin, for $5,000 4 % coupon water-main-extension bonds.
Authority Illinois Statutes, Act of July 1 1872, Chapter 24,
Article V, Ssction 1, 3d and 5th clauses. Denomination
$500. Date Jan. 1 1907. Interest ssmi-annually at the
City Treasurer’s office. Maturity July 1 1911. Deposit of
$50 required with bids. Official circular states that there
has never been any default in the payment of any obliga­
tions of the city and that there is no controversy or litigation,
pending or threatened, affecting the corporate existence, or
the boundaries of said municipality, or the title of its present
officials to their respective offices, or the validity of these
bonds.
Enterprise Irrigation District, Fremont County, Idaho.—
Bonds Not Yet Sold.— This district has not yet placed the
$55,000 6 % coupon bonds offered but not sold on May 7
1906. See V. 83, p. 113.
Essex County (P. O. Salem), Mass.— Note Sale.— On Jan.
14 an issue of $50,000 4 % registry of deeds building-site notes
was awarded to Blake Bros. & Co. of Boston at 100.03.
Securities are dated Dec,. 1 1905 and mature $5,000 yearly
from 1907 to 1916 inclusive.
Note Offering.— Proposals will be received until 11 a. m.
Jan. 21, by the County Commissioners, for the discount of
a $23,000 bridge-building note. Date Jan. 1 1907. Matur­
ity Dec. 1 1907. Authority for issue, Chapter 381, Laws of
1906.
Findlay, Ohio.— Bonds Authorized.— Ordinances were re­
cently passed by the Cit}r Council providing for the issuance
of the following bonds:
$ 1 3 ,3 2 0 10 4 J i % W e s t L in co ln S treet p a v in g b o n d s .
M a tu rity $326 10
J u ly 1 1907 a n d $500 e a ch s ix m o n th s th e r e a fte r .
14,340 36 4 3 ^ % E ast L in c o ln S tre e t p a v in g b o n d s .
M a tu r ity $340 36
J u ly 1 1907 an d $500 e a ch s ix m o n th s th e r e a fte r .
9 ,7 1 0 10 4 3 4 % E a st C ra w ford S tre e t p a v in g b o n d s.
M a tu rity $710 10
J u ly 1 1907 a n d $500 ea ch s ix m o n th s th e re a fte r.

The above bonds will be dated Jan. 1 1907.
Ford Precinct, Scotts Bluff County, Neb.— Bonds Voted.—
By a vote of 5S to 1 this precinct on Jan. 7 authorized the
issuance of $5,000 6 % bridge-building bonds. Denomina­
tion $1,000. Interest semi-annually at the State fiscal
agency in New York City. Maturity $1,000 yearly on Jan. 1
from 1923 to 1927 inclusive. This bridge is to be built
jointly by Ford and Kiowa Precincts, the latter voting on
the same day to issue $4,000 bonds for this purpose.
Gaston County (P. O. Dallas), No. Car.— No Action Yet
Taken.— No action has yet been taken in the matter of reofferiiig the $200,000 4 % road-improvement bonds, mention
of which was made in V. 83, p. 173.
Gilliam School District (P. O. Gilliam), Saline County,
M o.— Bond Sale.— We are advised that the $7,000 5 % cou­
pon school-building bonds offered but not sold on June 22
1906 (V. 82, p . 1513) were subsequently awarded to J. P.
Huston, Cashier of the Wood & Huston Bank of Marshall, at
par. Denomination $350. Date June 15. 1906. Interest
annual. Maturity $350 yearly on June 15 from 1907 to 1926
inclusive.
Gloucester City, Camden County, N. J.— Bond Sale.— This
city has awarded the $8,000 4 % water-works bonds men­
tioned in V. 83, p. 645, to the Sinking Fund, while $25,000
of the $55,000 4 % school bonds have been taken by the Se­
curity Trust Co. of Camden. The remaining $30,000 of the
school bonds have also been placed.
Grand Valley Irrigation District (P. O. Grand Junction),
Colo.— Bonds Not Yet Sold.— 'This district has not yet dis­
posed of the $585,000 6 % irrigation bonds mentioned in
V . 83, p. 339.
Grant County (P. O. Petersburg), W . V a.— No Action Yet
T aken.— Up to Jan. 10 no steps had yet been taken in the




173

matter of calling an election to vote on the question of issu­
ing the $20,000 bonds mention of which was made in V.
83, p. 1188.
Greenfield Independent School District (P .O . Greenfield)
Adair County, Iow a.— Bond Sale.— This district has awarded
the $25,000 school-building bonds mentioned in V. 82, p. 1455,
to John P. O ’Brien & Co. of Boston at par for 4s. Denomi­
nation $500. Date Aug. 1 1906. Interest semi-annual.
Maturity Aug. 1 1916, subject to call $2,000 on or after
Aug. 1 1908, $1,500 on or after Aug. 1 1909, $1,500 on or
after Aug. 1 1910, $20,000 on or after Aug. 1 1911. Bonded
debt, this issue. Assessed valuation for 1905, $1,067,620.
Greenwich, Fairfield County, Conn.— Bond Offering.—
Proposals will be received until 12 m. Feb. 15 by the Town
Selectmen at the Greenwich Trust, Loan & Deposit Co. for
$100,000 4 % coupon high-school bonds. Denomination
$500. Interest semi-annual. Maturity July 1 1935. Cer­
tified check for 1% of the bonds bid for, payable to the Town
Treasurer, is required. Accrued interest to be paid by
purchaser.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Guadalupe County (P. O. Seguin), Tex.— Bonds to Be Sold
to State.— The Commissioners’ Court has about made ar­
rangements with the State for the sale to the Permanent
School Fund of $50,000 bonds.
Halton County, Ont.— Debenture Sale Not Consummated.—
This county recently awarded $4,000 debentures to F. H.
Deacon & Co. of Toronto. We are informed, however, that
this sale was never consummated, owing to an error in the
by-law.
Hancock County (P .O . New Cumberland), W . V a .— Bonds
Not Sold.— No award has yet been made of the $125,000
bonds which this county has been offering for some time.
Hartsville, S. C.— Correction in Advertisement.— We are
advised by J. J. Lawton, Chairman of the Board of Commis­
sioners of Public Works, that the advertisement of the of­
fering on Feb. 1 of $41,000 5 % bonds was in error in stating
that the bonds are issued for the purpose of meeting the cost
of constructing and operating a system of water-works and
plant for sewerage,” &c. The words and operating should
not appear. The corrected official notice will be found
among the advertisements elsewhere in this department.
See V. 83, p. 1606, for description of bonds.
Hastings, Dakota County, Minn.— Bonds Awarded in Part.
— This city has awarded $20,000 of the $50,000 4 % water­
works bonds, bids for which were rejected on June 6 1906
(V. 83, p. 53), to the State of Minnesota. We are informed
that it is not likely that any steps will be taken toward dis­
posing of the balance of the bonds during this season.
Homestead, Alleghany County, Pa.— Bond Offering.—
Proposals will be received until 7:30 p. m. Feb. 4 by Andrew
Hill, Borough Clerk, for $20,000 4 % coupon water-worksimprovement bonds. These securities were authorized on
Nov. 6 1906 by a vote of 228 to 149. Denomination $1,000.
Date Feb. 1 1907. Interest semi-annually at the First Na­
tional Bank in Homestead. Maturity Feb. 1 1937. Bonds
are exempt from taxation. Certified check for $1,000, paya­
ble to the borough of Homestead, is required. Louis Rott
is Borough Treasurer.
Hoosick Falls, Rensselaer County, N. Y . — Bonds Voted.—
On Jan. 15 this village authorized the issuance of $75,000
bonds for the purchase of the water-plant. The vote was
207 to 1. Maturity $3,000 yearly, beginning three years
from date.
Houghton, Houghton County, Mich.— Bonds Authorized.—
The Village Council on Jan. 8 authorized the Village Attorney
to draw up a bill providing for the issuance of $50,000
sewerage-system bonds.
Hudson County, N. J.— Bonds to Be Offered.— This county
will be in the market in about a month with an issue of
$600,000 4 % 30-year coupon viaduct bonds.
Ithaca, Tompkins County, N. Y . — Bond Sale.— The
Drainage and Park Commission on Dec. 24 1906 awarded
$100,000 4 % municipal-improvement bonds to the Ithaca
Savings Bank on about a 3 .90% basis. Denomination
$5,000. Date "probably Feb. 1 1907.” Interest semi­
annual. Maturity $5,000 yearly, beginning Aug. 1 1922.
Jefferson County (P. O. Watertown), N. Y .— Bond Sale.—
On Jan. 16 the $70,000 4 % 5-18-year (serial) registered high­
way and $20,000 4 % 1-4-year (serial) registered almshouse
improvement bonds described in V. 84, p. 118, were awarded
to the Jefferson County Savings Bank of Watertown at
101.155. The bids were as follows:
$70 ,0 0 0
$20 ,0 0 0
H ig h w a y
A lm sh ou se
B o n d s.
B o n d s.
Jefferson C o u n ty S a v . B k . , W a t e r t o w n (b o th issues)
— $91,039 50—
$20 ,0 5 8 00
W a t e r t o w n S a v in gs B a n k . W a t e r t o w n ............. .............. $ 70 ,662 00
H u d s o n C ity S a v in gs I n s t it u t io n ....................................... 7 0 ,9 6 9 50
____
S . A . K e a n , C h ic a g o ................................................... ............ 7 0 ,0 5 5 00
________
W . J. H a y e s & S o n s, C le v e la n d ....................................... .. 7 0 ,0 3 5 00
__________

Jenkins County (P. O. Millen), Ga.— Bond Sale.— This
county, it is stated, has awarded the $43,000 court-house and
$15,000 bridge-building 5 % 20-year bonds voted on Dec. 27
1906 (V. 84, p. 118) to the Security Trust Co. of Spartan­
burg.

174

THE CHRONICLE.

Jones County (P. O. Ellisville), Miss.— Bond Offering.—
Proposals will be received to 12 m. Fe b . 4 by W. H. Bufkin,
Clerk Board of Supervisors, for $120,000 5 % 25-year coupon
court-house bonds. Interest semi-annual. Certified check
for 10% of the bonds is required.
Kiowa Precinct, Scotts Bluff County, Neb.— Bonds Voted.
— An election held in this precinct Jan. 7 resulted in favor
of issuing $4,000 6 % bridge-building bonds. The total num­
ber of votes cast was 33, all of which were in favor of the
bonds. The proceeds of these bonds will be used in the erec­
tion of a bridge to be built jointly by Kiowa and Ford Pre­
cincts, the latter voting on the same day to issue $5,000
bonds for this purpose.
Knoxville, Tenn.— Bonds Not Sold.— We are advised
under date of Jan. 11 that the $750,000 water-works bonds
offered but not sold on May 1 1906 (V. 83, p. 339) have not
yet been placed.
Lake City, Williamsburg County, S. C.— Bond Offering.—
The Town Council will offer at public auction 12 m ., Feb. 4,
$15,000 6 % coupon public-improvement bonds. These se­
curities are part of an issue of $20,000 bonds authorized by
an Act of the General Assembly, passed Feb. 21 1906, of
which $5,000 were sold Oct. 1 1906— see V. 83, p. 996. De­
nomination not less than $100. Date Jan. 1 1907. Interest
annually in Lake City, Chicago or New York. Maturity
thirty years, subject to call after twenty years. Certified
check for $300 required. Purchaser to furnish bonds.
B. Wallace Jones Jr. is Clerk of Council and J. H. Blackwell
is Town Intendent.
x -Latonia, Kenton County, K y .— Bond Sale.— On Jan. 15
the $3,700 Park Avenue and $5,800 Church Street 6 %
5-10-year (optional) coupon bonds dated Jan. 1 1907 and
described in V. 84, p. 118, were awarded to the Provident
Savings Bank & Trust Co. of Cincinnati at 105.021 and
accrued interest. Following are the bids:
P r o v id e n t S a v in gs B a n k & T ru s t C o ., C in c in n a ti____________________ $9,977
C itizen s’ N a tio n a l B a n k , C o v in g t o n ____________________________________ 9 ,8 5 0

Lawrence, Essex County, Mass.— Temporary Loan.— A
loan of $200,000 was recently negotiated with Loring, Tolman & Tupper of Boston at 5.30% discount. Loan matures
n seven months.
Lawton School District (P .O . Lawton), Comanche County,
Okla.— Bond Election Proposed.— It is stated that the School
Board will be petitioned to call an election to vote on the is­
suance of building bonds.
Lincoln, Lancaster County, Neb.— Bonds Voted.— On Jan.
9 the issuance of $5,000 water-main-extension bonds was
authorized by a vote of 149 to 46.
Lockhart, Caldwell County, Tex.— Bond Offering.— Pro­
posals will be received until 3 p . m . Feb. 4 by M. O. Flowers,
City Secretary, for the $15,000 5 % public-school-building
bonds voted on May 5 1906. See V. 82, p. 1170. Denomi­
nation $500. Interest payable at the State Treasurer’s
office, at the First National Bank in Chicago or at the Na­
tional Park Bank in New York City, at option of holder.
Maturity 40 years, subject to call $1,500 in 5 years, $2,500 in
10 years, $3,000 in 15 years, $3,500 in 20 years and $4,500
in 25 years. Certified check for $200 required with bids.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Lodi School District (P. O. Lodi), Bergen County, N. J.—
Bond Offering.— Proposals will be received until 8 p. m .,
Jan. 23, by Jacob Van Hook, District Clerk of the Board of
Education, for $45,000 5 % coupon school bonds. Denomi­
nation $1,000. Date Jan. 1 1907. Interest semi-annually
at the People’s Bank & Trust Co. in Passaic. Maturity
$1,000 yearly on Jan. 1 from 1912 to 1956 inclusive. The
bonds will be certified to as to genuineness by the United
States Mortgage & Trust Co. of New York City. Each bid
must be made on a blank form furnished by the city and must
be accompanied by a certified check for 3 % of the bonds
bid for, payable to the District Clerk. Accrued interest to
be paid by purchaser.
Loganville, Walton County, Ga.— Bond Sale.— This place
in November awarded a $10,000 5 % school-building bond
to the Providence Realty & Development Co. of Atlanta at
par. Bond is dated Sept. 1 1906. Interest annually in
December. Maturity thirty years, subject to call after
twenty years. This bond takes the place of the $10,000 5 %
school-building bonds awarded some time since to R. L. Rolland of Conyers (V. 83, p. 925), which sale was never con­
summated.
McAlester, Ind. Ter.— Bonds Not Legal.— Under date
Jan. 8, J. M. Gannaway, City Clerk, writes us as follow’s
regarding the $200,000 school, water and sewer bonds
awarded last October to Spitzer & Co. of Toledo (V. 83,
p. 848):
“ T h e o p in io n o f D illo n & H u b b a rd o n th e issu e b y th e c it y o f M cA le ste r
o f $ 2 0 0,00 0 sch o o l a n d w a te r a n d sew er b o n d s w as re ce iv e d on Ja n . 7 , a n d
falls t o a p p ro v e th e sa m e, q u o tin g th e A c t o f C on gress o f J u ly 30 1 8 8 6 ,
w h ic h , if a p p lica b le , fo rb id s te r rito r y to w n s th e rig h t t o issu e b o n d s in
ex ce ss o f 4 % o f assessed v a lu a tio n , a n d as o u r c it y has 5 1 5 0 ,0 0 0 w a te r
b o n d s o u ts ta n d in g , a n d th e assessm ent o f 1905 (so m e w h a t m o re th a n
5 4 ,0 0 0 ,0 0 0 ) w a s th e o n e con sid e re d w h en p ro ce e d in g s w ere b e g u n , o u r
lim it u n d er th e A c t q u o te d w o u ld b e e x c e e d e d m a te ria lly .
A c tin g u p o n
th e a d v ic e o f th e a b o v e a tto r n e y s , h o w e v e r , a stro n g e ffo rt is t o b e m a d e
im m e d ia te ly t o h a v e C on gress pass a sp ecia l A c t , v a lid a tin g th e Issue.
In
ca se th is A c t is secu red th e c it y w ill, o f co u rs e , ask fo r n ew b id s .”




[VOL LXXXIV.

McMechen, W . V a.— Bonds Not Sold.— No award has yet
been made of the $20,000 4 ^ % coupon sewerage bonds
offered on Dec. 27 1906. See V. 83, p. 1549, for description
of these securities.
Malden,Mass.— Sales for the Y ear.— During the year 190&
this city placed $305,000 of bonds. With the exception of
the $20,000 described below, all these sales were recorded in
the “ Chronicle” at the time.
57,5 0 0 4 % 1 -7 -y ea r (serial) la n d b o n d s d a te d A p ril 1 190 6. A w a rd e d t o t h e
sin k in g fu n d a t p a r.
11,000 4 % 2 -1 2 -y e a r (serial) la n d b o n d s d a te d J u n e 1 1906. A w a rd e d t o th e
M ald en H o s p ita l a t p a r.
1,500 4 % 1 -y e a r la n d b o n d s d a te d Ju n e 1 1906. A w a r d e d at p a r.

Mangum, Greer County, Okla.— Bond Election.— On Feb.
5 the question of issuing $30,000 electric-light and $15,000<
sewer 6 % 20-year bonds will be submitted to a vote of the
people.
Marianna, Lee County, Ark.— Bond Sale.— We are ad­
vised that the $26,000 coupon sewer-improvement District
No. 1 bonds, bids for which were rejected on Feb. 12 1906,.
were awarded some months ago to the Mercantile Trust Co.
of St. Louis at par for 6s. Denomination $1,000. Date
July 1 1906. Interest semi-annual. Maturity July 1 1936,
subject to call after July 1 1921.
Marion School District No. 4 (P. O. Marion), Smyth
County, V a.— Bond Sale.— We are advised that the $20,000
5 % school-building bonds offered but not sold on July 20
1906 (V. 83, p. 289) have been disposed of at par. Denomi­
nation $500. Date July 1 1906. Interest semi-annual.
Maturity July 1 1926, subject to call after five years.
Medford, Jackson County, Ore.— Bond Offering.— Further
details are at hand relative to the offering on Feb. 11 of the
$45,000 5 % coupon warrant-funding bonds mentioned in
V. 84, p. 119* Proposals will be received until 8 p. m. on
that day by Benjamin M. Collins. City Recorder. Au­
thority Section 73 of Chapter 9 of the City Charter. De­
nomination $500. Date March 5 1907. Interest semi-annu­
ally in Medford or designated place in New York City.
Maturity March 5 1927. Bonds are exempt from all taxes.
Certified check for 5 % of the amount bid, payable to the
City Recorder, is required. Bonded debt, including this
issue, $75,000. Assessed valuation for 1906, $1,089,959.
Midville, Burke County, Ga.— Bonds Not Yet Sold.— This
town has not yet disposed of the $5,000 5 % 1-25-year (serial)
coupon school-building bonds, mention of which was made
in V. 83, p. 114.
Monroe, Green County, W is.— Bond Sale.— This place has
disposed of an issue of $85,000 4 % water-works bonds.
Monrovia, Los Angeles County, Cal.— Bond Election.—
Reports state that the election to vote on the question of
issuing the $85,000 water-system-improvement bonds men­
tioned in V. 83, p. 1428, will be held Feb. 12.
Montgomery, Ala.— Bonds ■ Valid.— 'The State Supreme
Court has rendered a decision holding valid the $549,000
43^% gold refunding bonds authorized by the City Council on
Nov. 5 1906.
Montpelier, Washington County, V t.— Bond Sale.— This
city recently awarded $1,000 of the $6,000 city-stable bonds
voted on Oct. 25 190o to the Montpelier Savings Bank <fc
Trust Co. at par for 4 % 5-year bonds. The balance of the
issue was taken by the city. Denomination $1,000. In­
terest April and October.
Montreal'Protestant School District, Que.— B ids.— Fol­
lowing are the bids received on Jan. 9 for the $275,000 4 %
school-building bonds awarded, as previously stated, to
R. Wilson Smith of Montreal at 99.50 and accrued interest:
R . W ils o n S m ith , M o n tre a l____ 9 9 .5 0 | E . H . G a y & C o ., M o n tr e a l____ 9 5 .3 3
W o o d , G u n d y & C o ., T o r o n t o . . 9 6 . 7 4 1

Denomination S I,000. Date January 1907. Interest
semi-annual. Maturity Jan. 1 1937.
Moore’s Mill School District (P. O. Moore’s Mill), Dutchess
County, N. Y . — Bond Sale.— On Jan. 14 the S I ,400 5 %
1-5-year (serial) school-house bonds offered on that day
(V. 84, p. 119) were awarded to Isaac W . Sherrill of Pough­
keepsie for $1,401. There were no other bidders. Denomi­
nation $280. Date Jan. 1 1907. Interest annual.
Mount Vernon, Westchester County, N. Y . — Bonds N ot
Sold.— Bond O ffering.— No bids were received on Jan. 15 for
the $80,000 4 % refunding bonds described in V. 84, p. 62.
Proposals are again asked for these bonds, this time until
Feb. 5.
Muscatine, Muscatine County, Iow a.— Bond Sale.— On
Jan. 9 a resolution was adopted providing for the issuance
of $68,513 65 6 % Improvement District No. 23 assess­
ment bonds. Denomination $500, $400, $300, $200 and
$100. Date Jan. 10 1907. Maturity seven years, subject
to call at any time. Under the terms of this resolution the
bonds are to be delivered to the contractor , R. K . Smith of
Muscatine, in payment for work done by him.
Natick, Middlesex County, Mass.— Bond Sale.— This town
has sold $8,500 school bonds.
Natrona County (P. O. Casper), W y o .— Bond Sale.— On
Jan. 8 the S40,000 4
1 0 - 2 0 -year (optional) court-house
bonds described in V. 83, p. 1549, were awarded to the State
of Wyoming at 100.25 and accrued interest— a basis of about

J a n . 19 1907. |

THE CHRONICLE.

3.469% to the optional date or 3.481% to full maturity.
Following are the bids:
S ta te o f W y o m i n g . . ..................$ 4 0 ,1 0 0 1E . H . R o llin s & S o n s, D e n v . .$ 4 0 ,0 0 0
G. H . T o w n s e n d , C a sp er____ 4 0 ,0 2 5 | N . W . H arris & C o . , C h ic a g o . 40,000
C . H . C o ffin , C h ic a g o ________ 4 0 ,0 1 1 1J o h n N u v e e n & C o ., C h ic a g o . 40,0 0 0

Nelsonville School District (P. O. Nelsonville), Athens
County, Ohio.— Bond Offering.— Proposals will be received
until 12 m. Feb. 5 at the office of the School Superintendent
for $45,000 4 % coupon school-building bonds. Authority
Section 3992 of the Revised Statutes as amended and ap­
proved April 25 1904. Denomination $500. Date Feb. 5
1907. Interest semi-annually at one of the banks in Nelson­
ville or at the office of the Treasurer of the District. Matur­
ity $1,000 each six months from Sept. 1 1912 to Sept. 1 1934
inclusive. Each bid must be made on a blank form fur­
nished by the district and must be accompanied by a certified
check on some bank in Nelsonville for 5 % of the amount bid.
Bonds-will be delivered March 1. Aaron Grady is Clerk of
the Board of Education.
New Madrid County (P. O. New Madrid), Mo.— Bond
O ffering.— Proposals will be received until 12 m ., Jan. 22,
by S. R. Hunter Jr., County Treasurer, for $180,000 6 %
coupon Drainage District i^o. 19 bonds. Denomination
$1,000. Date Feb. 1 1907. Interest semi-annually in New
Madrid. Maturity part yearly for twenty years. Certified
check for $1,000, payable to the County Treasurer, is re­
quired.
New Orleans, L a.— Bond Offering.— Proposals will be re­
ceived until 3 p. m. Feb. 13 by the Board of Liquidation of
the City Debt for from $175,000 to $200,000 4 % coupon
school-teachers’-salary bonds. Authority, Act. No. 2 of
the General Assembly of 1906. Denomination $1,000.
Date Jan. 1 1907. Interest semi-annual. Maturity Jan. 1
1927, subject to call after Jan. 1 1917. Certified check for
$5,000 on the entire issue and for 3 % on an amount less than
the entire issue is required.
Norwich School District (P. O. Norwich), McHenry
County, N. D .—Bond Sale.— This district recently sold an
issue of school-liouse bonds to the State of North Dakota.
Noxubee County (P. O. Macon), Miss.— Bond Sale.— On
Jan. 8 the $20,000 4>^% 20-year gold coupon jail-building
bonds, a description of which was given in V. 83, p. 1549,
were awarded to Emery, Anderson & Co. of Cleveland at
102.105 and accrued interest— a basis of about 4.337% .
Orange, Essex County, N. J.— Bids.— The following bids
were received on Jan. 7 for the $54,000 4 % 30-year coupon
funding bonds awarded, as stated in V. 84, p. 119, to N. W .
Halsey & Co. of New York City at 100.277 and accrued
interest:
N . W . H a lsey & C o ., N . Y .a $ 1 0 0 .2 7 7 1 W . J. H a y e s & S o n s , B o s t o n . 100 .025
K o u n t z e B r o s ., N ew Y o r k ___ 1 0 0 .0 7 7 1P r o v . In st, fo r S a v ., Jer. Cy.alO O
a A n d in terest.

175

San Jose School District, Santa ClarajjCounty, Cal.— Bond
Sale.— On Jan. 7 the $175,000 high-school and $225,000
grammar-school 4 % gold coupon bonds described in V. 83,
p. 1550, were awarded to the California State Board of Ex­
aminers for $402,375 (100.593) and accrued interest— a
basis of about 3.953% . There were no other bidders.
San Patricio County (P. O. Sinton), Tex.— Bond Sale.—
The State Board of Education has purchased at 101.50 the
$2,000 5 % 5-20-year (optional) bridge bonds dated April 10
1906, registered by the State Comptroller on Dec. 15 1906.
— V. 83, p. 1608.
Sarcoxie, Jasper County, M o.— Bonds to be Offered Shortly.
— This city will be in the market in the near future with the
$10,000 water-works bonds voted on Nov. 27 1906. See
V. 83, p. 1431.
Selkirk, Manitoba.— Debenture Offering.— Proposals will
be received until 12 m. Feb. 10 (this date falls on Sunday
but it is so given in the advertisement) by Thomas Parting­
ton, Secretary-Treasurer, for the following debentures:
$70 ,000 5 % c o u p o n w a te r-w o rk s d e b e n tu re s .
D e n o m in a tio n $50 0.
In te r­
est Ju n e 1 an d D e c. 1. M a tu r ity o n D e c. 1 as fo llo w s : $500
y e a r ly fro m 1907 t o 1921 in c lu s iv e , $ 1 ,0 0 0 y e a r ly fr o m 1922
to 1931 in c lu s iv e , $1,5 0 0 y e a r ly fr o m 1932 t o 1941 in c lu s iv e ,
$2,0 0 0 y e a r ly fro m 1942 t o 1951 in clu s iv e a n d
$3,500
y e a r ly fro m 1952 t o 1956 in clu s iv e .
8 0 ,0 0 0 5 % sew erag e d e b e n tu re s .
In te re st M ay 1 a n d N o v . 1.
M a tu r ity
p a r t d u e e a ch s ix m o n th s fr o m M ay 1 1907 t o N o v . 1 1956
in clu siv e .

Selma, Ala.— Bonds Temporarily Enjoined.— A . K . Cawthon, a tax-payer, has secured a temporary injunction pre­
venting the delivery of the $150,000 5 % water bonds recently
awarded. Mr. Cawthon claims that the bonds were issued
in different form from that authorized by the electors at the
election held last April. No provision, he says, is made in
the bonds for redemption at the option of the city prior to
maturity, whereas in the resolution as submitted to the
people a three-year option was provided.
Shawnee, Pottawatamie County, Okla.— Bonds Re­
awarded.— On Jan. 5 the $165,000 5 % sewer and waterextension bonds awarded on Dec. 13 1906 to the Trust Com­
pany of Dallas were re-awarded, it is stated, to Spitzer & Co.
of Toledo for $171,000, the price thus being 103.636.
Simpsonville School District (P. O. Simpsonville), Green­
ville County, So. Car.— Bond Offering.— Proposals will be
received until 12 m. Feb. 12 by the Board of Trustees at
the office of S. J. Willson in Simpsonville for $4,500 20-year
school bonds at not exceeding 6 % interest. Certified check
for $100 required.
South Charleston School District (P .O . South Charleston),
Clark County, Ohio.— Bond Offering.— Proposals will be re­
ceived until 12 m ., Feb. 14, by C. N. Shough, Clerk Board of
Education, for $35,000 4 % coupon building bonds. Author­
ity, Sections 3991 and 3992 of the Revised Statutes. De­
nomination $1,000. Date, day of sale. Interest semi­
annual. Maturity $1,000 yearly beginning one year from
date. Certified check for $100 on each bpnd bid for, payable
to the Clerk of the Board of Education, is required. Accrued
interest to be paid by purchaser.

Oswego, N. Y .— Bonds Not Yet Sold.— No award has yet
been made of the $200,000 33^% registered water bonds
mentioned in V. 82, p. 350.
Paxton, Ford County, 111.— Bond Sale.— On Jan. 7 the
City Council passed an ordinance providing for the issuance
of $29,700 5 % coupon street-improvement assessment bonds.
South Omaha, Douglas County, Neb.— Bond Sale.— This
Denominations: $500, $200 and $100. Date Feb. 1 1907.
Interest annually on April 1 at the office of the City Treas­ city has awarded the $40,000 4 % park bonds offered on
urer. Maturity $3,300 yearly on April 1 from 1908 to 1916 Jan. 7 (V. 84, p. 63) to Spitzer & Co. of Toledo at par and
inclusive. Under ordinance these bonds are to be delivered accrued interest. A bid of par and accrued interest, less
to H. C. Finley, the Contractor, in payment for work done.
$2,000 for blank bonds, attorney’s fees and other expenses,
Randolph, Dodge County, W is.— Bond Election.— Accord­ was also received from W . J. Hayes & Sons of Cleveland.
ing to local papers, an election will be held in this place Jan. 25 Interest semi-annually in New York City. Maturity twenty
to vote on a proposition to issue $13,000 water-works bonds. years, subject to call after five years.
Steelton, Ont.— Debenture Offering.— Proposals will be re­
Rensselaer County (P. O. Troy), N. Y . — Bond Sale.— On
Jan. 15 the $84,000 4 % 1-28-year (serial) registered high­ ceived until Feb. 2 by J. Robinson for $87,000 4 ^ % 30-year
way-improvement (third series) bonds and the $20,000 4 % water-works debentures and $10,000 20-year municipal1-20-year (serial) refunding bonds dated Feb. 1 1907 and building debentures.
described in V. 83, p. 1608, were awarded to the Troy Sav­
Stroud, Lincoln County, Okla.— Bond Election.— On Jan.
ings Bank of Troy at 100.55 and 100.425 respectively. This 22 the citizens of this place will vote on the question of issu­
is on a basis of 3 .9 5 % .
ing $10,000 6 % 30-year additional-water-works bonds.
Rolla, Phelps County, M o.— Bond Sale.— On Jan. 7 the
Sutton, Braxton County, V a.— Bond Offering.— Proposals
$38,000 water-works and $10,000 sewer 5 % 20-year bonds will be received until 6 p. m. Feb. 1 by W . L. Armstrong,
described in V. 83, p. 1431, were awarded, it is stated, to the Town Recorder, for $18,000 5 % coupon bonds. Securities
Wm . R. Compton Bond & Mortgage Co. of Macon.
are dated Jan. 1 1907. Interest annually at the Seaboard
Rutherford School District (P. O. Rutherford), Bergen National Bank in New York City. Maturity thirty years,
County, N. J.— BondOffering.— C. P. Perham, District Clerk, subject to call after ten years.
is offering at private sale $10,000 4 % coupon school-building
Talihima School District, Choctaw Nation, Ind. Ter.—
bonds. Denomination $1,000. Date Dec. 1 1906. Interest Bond Sale.— We are advised that the $5,000 6 % bonds
semi-annually at the Rutherford National Bank in Ruther­ recently approved were awarded to R. J. Edwards of Okla­
ford. Maturity Dec. 1 1906.
homa City at par. Denomination $1,000. Date Oct. 1
Sacramento, Cal.— Bond Election Proposed.— The Board of 1906. Interest semi-annual. Maturity Oct. 1 1926.*H
Trustees has passed an ordinance preliminary to calling a
Titus County (Tex.) Common School District.— Bond Sale.
special election for the purpose of voting on the question of — The $500 5 % 15-20-year (optional) school-house bonds
issuing $300,000 city-hall bonds.
dated May 14 1905, registered by the State Comptroller
St. Joseph County (P. O. South Bend), Ind.— Bond Sale.— Nov. 26 1906 (V. 83, p. 1432), were sold on Dec. 20 1906 to
On Jan. 17 the $210,000 bridge and $60,000 asylum 3J^% the Titus County Permanent School Fund.
coupon bonds described in V. 83, p. 1551, were awarded to
Todd County (P. O. Long Prairie), Minn.— Bond Sale.—
N. VV. Harris & Co. of Chicago for S273,162, the price thus On Jan. 10 the $50,000 6 % 10-year coupon ditch-construcbeing 101.171— a basis of about 3.38J^% .
tion bonds described in V. 83, p. 1551, were awarded to U. M.
St. Paul, Minn.— Bond Sale.— On Jan. 16 the following Stoddard & Co. of Minneapolis at 101.80.
bids were received for the $25,000 4 % 30-year coupon park
Troy, N. Y .— Revenue Bond Sale.— On Jan. 15 this city
bonds described in V. 84, p. 63:
awarded $100,000 4 % 8-months revenue bonds— $50,000
E . H . R ollin s & S o n s ,C h ic .$25 ,453 75 |E m e r y ,A n d e rs o n & C o .,C le v $ 2 5 ,325 00
to the Security Trust Co. of Troy and $50,000 to the Troy
G o ld m a n ,S a ch s & C o .,C h ic . 2 5 ,4 5 0 00 I W . J. H a y e s & S o n s , C le v . 2 5 ,300 00
Trust Co. at par.
S e a s o n g o o d & M a y er, C in . 2 5 .4 0 0 00 |




THE CHRONICLE.

1 76

Uniontown School District (P. O. Uniontown), Fayette
County, Pa.— Bond Sale.— This district recently awarded the
$40,000 4 % building b'onds mentioned in V. 83, p. 1609, to
MacDonald, McCoy & Co. of Chicago at par. Denomination
$1,000. Date Jan. 1 1907. Interest April 1 and October 1.
Maturity $2,000 yearly, beginning in 1909.
Vancouver, B. C.— Loans Authorized.— Local papers state
that the following by-laws carried on Jan. 10:
B y -la w t o raise 534 ,500 fo r th e p u r c h a s e o f a d d itio n a l fire p r o t e c tio n
a p p a ra tu s a n d th e e r e c tio n a n d e q u ip m e n t o f flre-halls.
B y -la w t o "r a is e § 2 5 ,0 0 0 fo r th e p u r c h a s e o f s c h o o l sites.
B y -la w t o raise § 2 0 ,0 0 0 fo r th e p u r p o s e o f e r e c tin g s c h o o l b o a r d o ffic e s
an d s t o r e -r o o m s fo r s c h o o l p u rp o se s.
B y -la w t o raise §1 0 ,0 0 0 fo r th e p u rch a se o f la n d fo r a p u b lic p a rk in F a ir v ie w .

Vegreville, Alberta.— Debenture Offering.— Proposals will
be received until Jan. 31 by F. A. Morrison, SecretaryTreasurer, for $8,000 6 % fire-protection debentures. Securi­
ties are dated Jan. 2 1907. Interest annual. Maturity
part yearly on Jan. 2 from 1908 to 1927 inclusive.
Warrensburg School District (P. O. Warrensburg), John­
son County, Mo .— Bond Sale.— We are advised that the
$6,000 4 % bonds registered by the State Auditor on Dec. 26
1906 (V. 84, p. 64) were awarded some time since to the Citi­
zens’ Bank of Warrensburg at par. Denomination $500.
Date Sept. 1 1906. Interest semi-annual. Maturity Sept.
1 1926, subject to call after Sept. 1 1916.
Washington Heights (Tex.) Independent School District.
— Bonds Registered and Sold.— On Jan. 7 the State Comp­
troller registered $6,000 5 % 20-40-year (optional) schoolhouse bonds of this district dated Dec. 21 1906. These
bonds have been purchased by the State Board of Education
at 101.66.
Washington Township School District, Shelby County,
Ohio.— Bond Sals.— On Jan. 5 the $990 5 % school bonds
described in V. 84, p. 64, were awarded to the First National
Exchange Bank of Sidney for $995 (100.505) and accrued
interest— a basis of about 4 .7 4 ^ % .
Waterbury, Conn.— Bond O ffering.— Proposals will be
received until 8 p. m. Feb. 18 by William H. Sandland,
City Clerk, for $15,000 coupon water bonds. Denomination
$1,000. Date Jan. 1 1907. Interest semi-annually by

N E W LOANS.

New York draft. Maturity $5,000 yearly on Jan. 1 from
1908 to 1910 inclusive. Certified check for 1 % of the bonds
bid for, payable to the City Treasurer, is required. Delivery
of bonds April 1.
Wayland, Allegan County, Mich.— Bonds Defeated.— The
voters of this city recently defeated a proposition to issue
$250,000 water-works bonds.
Wayne County (P. O. Wooster), Ohio.— Bond Offering.—
The Board of Commissioners will offer for sale at the office
of Isaac N. Hough, County Auditor, 10 a. m. Feb. l , the
following bonds:
§ 9 ,6 0 0 4 % c o u p o n M u d d y F o r k D itc h N o . 97 b o n d s .
D e n o m in a tio n
$ 1 ,2 0 0 .
M a tu r ity § 1 ,2 0 0 y e a r ly o n F e b . 1 fro m 1908 t o
1915 in c lu s iv e .
.*,!■ - 4
1,600 4 % c o u p o n F o x L a k e D itc h N o . 152 (J o in t S ta rk an d W a y n e c o u n ­
ties) b o n d s.
D e n o m in a tio n § 4 0 0 .
M a tu rity §400 y e a r ly
o n F e b . 1 fr o m 1908 t o 1911 in clu s iv e .
900 4 % c o u p o n G ra ber D it c h N o . 164 b o n d s .
D e n o m in a tio n §300 .
M a tu rity §300 y e a r ly o n F e b . 1 fr o m 1908 t o 1910 in clu sive.
1,000 4 % c o u p o n B e rt W e lls D it c h N o . 145 b o n d s .
D e n o m in a tio n §500 M atu rity §500 F e b . 1 1908 a n d §500 F e b . 1 1909.

The above bonds will be dated Feb. 1 1907.
semi-annual.

$ 100,000

A T L A N T I C C I T Y , N. J.

Interest

--^Waynesboro School District (P .O . Waynesboro), Franklin
County, Pa.— Bond Sale.— We have just been advised that
the $20,000 4 % 15-30-year (optional) coupon refunding
bonds described in V. 83, p. 1251, were awarded on DecMO
1906 to People’s National Bank of Waynesboro for $20,101^75
— the price thus being 100.508.
Wellington, Sumner County. Kan.— No Action Yet Taken.
— No action has yet been taken in the matter of issuing,the
$15,000 city-building, $10,000 electric-light-plant-improvement and $30,000 water-works-plant-extension coupon
bonds voted on Oct. 9. See V. 83, p. 1061.
West Allis, Milwaukee County, W is.— Bonds Authorized.
— On Jan. 3 the Common Council passed an ordinance pro­
viding for the issuance of $20,000 school-building jbonds. TJ
West Branch, Cedar County, Iowa.— Bonds Voted.— The
election Dec. 10 resulted in a vote of 87 to 17^in favor of
issuing the $15,000 water-works bonds mentioned in V. 83,
p. 1432. Details of bonds and date of sale not^yetjdetermined.

N E W LO AN S.

^ 6 5 0 ,0 0 0

[ V o l . i -x x x i t .

N E W LOANS.
^ 4 1 ,0 0 0

Town of Greenwich, Conn., Town of Hartsville, So. Oar,,

BONDS

High School 4 % Bonds.

6 % Coupon Bonds.

T h e C ity o f A T L A N T I C C I T Y w ill r e c e iv e
sea led p r o p o s a ls fo r
§ 3 0 0 ,0 0 0 W A T E R B O N D S ,
d a te d J U L Y 1, 1 90 6, m a tu r in g J U L Y 1 , 1 94 1,
b e a rin g in terest a t th e ra te o f fo u r a n d o n e -h a lf
p er c e n tu m ( 4 ^ % ) p er a n n u m .
§1 7 5 ,0 0 0 P A V I N G B O N D S ,
d a te d J A N U A R Y 1 , 190 7, m a tu rin g J A N U A R Y
1 , 1 92 7, w it h Interest at th e ra te o f fo u r a n d o n e h a lf p er c e n tu m ( 4 } £ % ) p e r a n n u m .
§7 5 ,0 0 0 P A V I N G B O N D S ,
d a te d J A N U A R Y 1, 1 90 7, m a tu r in g J A N U A R Y
1 , 1 92 7, w ith in terest a t t h e r a te o f fo u r a n d on eh a lf p e r c e n tu m ( 4 X % ) p e r an n u m .
§ 7 0 ,0 0 0 P A V I N G B O N D S ,
d a te d Ju n e 1, 1 90 5, m a tu r in g J U N E 1 , 1 92 5,
w ith Interest a t th e ra te o f fo u r p e r c e n tu m (4 % )
per annum .
§ 3 0 ,0 0 0 M U N I C I P A L H O S P I T A L B O N D S ,
d a t e d S E P T E M B E R 1, 1 90 6, m a tu rin g S E P ­
T E M B E R 1, 1 93 6, w ith in terest a t th e r a te o f
fo u r per c e n tu m ( 4 % ) p er an n u m .
A ll o f th ese b o n d s are w ith o u t o p t io n , a n d fre e
from ta x .
P r in cip a l a n d in terest are p a y a b le at
the H A N O V E R N A T IO N A L B A N K , N E W
Y O R K C IT Y .
T h e se b o n d s w ill b e a p p r o v e d as t o le g a lity b y
D illo n & H u b b a r d o f N ew Y o r k , w h o s e c e r tific a te
as t o le g a lity w ill a c c o m p a n y t h e b o n d s w h e n
d e liv e re d , w it h o u t ch a rg e t o th e pu rch a se r.
T H E BO N DS W IL L BE E N G R A V E D U N D E R
T H E S U P E R V IS IO N O F A N D C E R T IF IE D
TO
AS
TO
T H E IR
G E N U IN E N E S S
BY
THE
C O L U M B IA T R U S T
COM PANY
OF
NEW YORK.
B ids w ill b e re c e iv e d u n til 12 O ’ C L O C K M ..
S A T U R D A Y , F E B R U A R Y 9 , 190 7. T h e C ity
o f A t la n t ic C it y reserves th e rig h t t o r e je c t a n y
o r all b id s .
B o n d s w ill b e d e liv e re d t o th e p u r ­
ch a ser o n o r a b o u t M arch 1 , 190 7.
E v e r y b id
m u st b e a c c o m p a n ie d b y a ce rtifie d c h e c k or
c a sh as fo llo w s :
F o r th e § 3 0 0 ,0 0 0 W a t e r B o n d s ___________ $ 5,0 0 0
F o r th e $ 1 7 5 ,0 0 0 P a v in g B o n d s ___________
3 ,0 0 0
F o r th e $75 ,0 0 0 P a v in g B o n d s ___________
1,5 0 0
F o r t h e $ 7 0 ,0 0 0 P a v in g B o n d s — _______
1,500
F o r t h e $ 3 0 ,0 0 0 H o s p ita l B o n d s ________
1,000

S e a le d p r o p o s a ls w ill b e r e c e iv e d a t T h e G re e n ­
w ich T r u s t, L o a n & D e p o s it C o m p a n y , in said
G re e n w ic h , u n til 12 o ’ c lo c k n o o n , F E B R U A R Y
1 5 T H , 190 7, fo r th e p u r c h a s e o f $ 1 0 0 ,0 0 0 4 %
cou pon
b on d s,
d e n o m in a tio n $ 5 0 0 , p a y a b le
J u ly 1st, 193 5, in te re s t p a y a b le J a n u a r y 1st an d
J u ly 1st in e a ch y e a r . Issued b y th e T o w n o f
G r e e n w ic h , p u r s u a n t t o a S p e cia l A c t o f th e
G en eral A s s e m b ly o f th e S ta te o f C o n n e c tic u t.
B id s w ill b e r e c e iv e d fo r all o r a n y p a r t o f th e
lo t n o t less th a n § 1 0 ,0 0 0 in a m o u n t.
A c e rtifie d c h e e k , If b id is fo r e n tire l o t , o f
$ 1 ,0 0 0 ; if b id is fo r less th a n e n tire lo t , o f 1 % o f
p rin c ip a l o f b o n d s b id f o r , p a y a b le t o th e o rd e r
o f t h e T re a su re r o f th e T o w n o f G re e n w ic h , t o
a c c o m p a n y all b id s , a n d t o b e fo r fe it e d in case
o f fa ilu re o f p u r c h a s e r t o c o m p ly w ith his b id .
P u rch a sers t o p a y in a d d it io n t o b id a c c r u e d
In terest.
B o n d s t o b e p a id f o r a n d d e liv e re d a t said
C o m p a n y o n F e b r u a r y 2 5 tli, 1907.
T h e rig h t Is r e s e rv e d t o r e je c t a n y a n d all b id s .
A d d re s s a ll b id s t o T h e G re e n w ich T r u s t, L o a n
& D e p o s it C o m p a n y , a n d e n d o rse p la in ly o n th e
e n v e lo p e th e w o rd s , " B i d fo r H ig h S c h o o l B o n d s .”
F u rth e r In fo rm a tio n g iv e n b y sa id C o m p a n y
u p o n a p p lic a tio n .
D a te d G re e n w ich , C o n n e c tic u t , J a n u a r y 1 5 th ,
190 7.
.
S IL A S D . R IT C H ,
) S e le c tm e n o f
J. A L B E R T L O C K W O O D , K he T ow n o f
CH A RLE S F. AD AM S.
j G re e n w ich .

S ealed p ro p o s a ls w ill b e re c e iv e d b y th e B o a rd
o f C o m m ission ers o f P u b lic W o r k s o f th e T o w n jo f
H a r ts v ille , S. C ., u n til 12 o ’c lo c k n o o n . F E B ­
R U A R Y 1S T 1907, fo r th e p u rch a se o f F o r t y O n e T h o u s a n d D olla rs ($ 4 1 ,0 0 0 00) fiv e p e r c e n t
c o u p o n b o n d s , t o be d a te d J a n u a ry 1st, 1 9 0 7 ,an d
p a y a b le f o r t y years a fte r d a te , w ith th e p r iv ileg e
o f re d e m p tio n tw e n ty years a fte r d a te .
In terest
p a y a b le J a n u a ry 1st a n d J u ly 1st o f ea ch y e a r a t
B a n k o f H a r ts v ille , H a r ts v ille , S. C. T h e p u r ­
p o s e o f this issue o f b o n d s is t o m e e t th e c o s t o f
c o n s tr u c tin g a sy ste m o f w a te r w o rk s a n d p la n t
fo r sew erag e an d lig h tin g p u r p o s e s , fo r th e use
an d be n e fit o f th e said t o w n .
f•
T h e T o w n o f H a r ts v ille has n o p r e s e n t 'b o n d e d
o r o th e r In d e b te d n e ss. C ertified c h e c k fo r $ 1 ,000 0 0 , p a y a b le t o th e o r d e r o f J. J. L a w t o n ,
C h a irm a n , t o a c c o m p a n y all b id s , an d t o b e fo r ­
fe ite d in ca se o f failure o f p u rch a se r t o c o m p ly
w ith his b id .
N o b id s fo r less th an p a r an d a c ­
c ru e d in te re st w ill b e c o n s id e re d .
R ig h t reserved
t o r e je c t a n y o r all b id s .
A d d re s s all b ids t o th e
B o a rd o f C o m m ission ers o f P u b lic W o r k s , H a rtsv llle , S. C ., an d en d o rse p la in ly o n th e e n v e lo p e
th e w o rd s , “ B id fo r B o n d s .”
F o r fu r th e r in fo r m a tio n a p p ly t o th e C h airm an .
J . J. L A W T O N . C h airm an . ,-l&iffcs
F . A . M I L L E R , S e cre ta ry .

$ 12,000
A cir c u la r le tt e r w ith fu ll p a rticu la rs a n d b la n k
fo r m o f p r o p o sa l w ill b e m a ile d t o p r o s p e c tiv e
b id d e r o n a p p lic a tio n t o
A. M. H ESTON ,
C o m p tr o lle r .

e is e l e

BANKERS,

5% Internal Bonds

M em bers o f N ew Y o rk and P M U 4 «lp h la
S to ck E x ch a n ge s.

P a y a b le in U. S. G old C o le
Y I E L D IN G O V E R 5 %

L a S alle S tre e t, C h ica g o .




PER

Private W ire s to
N.Y. and Philadelphia.

7 5 7 -7 5 9 B r o a d S t.
N EW ARK.

A N N c .«

IN V E S T M E N T BO ND S
T. W . STEPHENS & CO.,

L is ts u p o n re q u e st.

2 Wall Street, New l o r k .

Denison & Farnsworth,

B A L T IM O R E
C on tin en tal Building;.

WITHOUT

181

& k in g ,

REPUBLIC OF CUBA

Mac Donald, McCoy & Go,, BONDS WITH
MUNICIPAL AND CORPORATION
B O ND S.

Specialists in New Jersey Securities.

C H IC A G O
tut N a t. B a n k B id e .

BOSTON
C L E V E L A N D and P H IL A D E L P H IA

MUNICIPAL AND RAILROAD

COUPONS

BONDS.

w ith ste e l-p la te b ord ers, o r Ithngrapbed. o r part
ly p rin ted fro m ty p e . I f th e latter, th e n can be-

L I S T OH A P P L IC A T IO N .

DE LIVE RED IN FEW DAYS

SEASON0OOD & MAYER

C ertificates e n gra v e d In best m anner, o r Dartiy
lith og rap h ed and p a r t ly p rin te d

ALBERT B. KING & CO., 206 Broadway, N .Y .

■ e m a t U e L ib r a r y B u i l d i n g ,
C IN C IN N A T I.

J a n . 19 1907.]

177

THE CHRONICLE.

West Monroe, Ouachita Parish, L a.— Bonds Authorized.—
Wilmington, New Castle County, Del.— Loan Proposed.—
This town is making arrangements for the issuance of bonds It is stated that a loan of $800,000 will probably be_asked
for a town-hall and for an electric-light-plant.
for to complete the new water system.
West Palm Beach, Dade County, Fla.— Bond O ffering.—
Wolfe City, Hunt County, Tex.— Bond Sale.— The State
Proposals will be received until 10 a. m. Feb. 5 by the Board of Education has purchased at 106.55 $4,000 5 %
City Clerk for the §7,500 5 % gold coupon street-improve- 15-40-year (optional) water-works bonds of this place.
ment and sewer-extension bonds voted on Dec. 28 1906. Securities are dated Sept. 1 1906.
Denomination $500. Date Feb. 1 1907. Interest semi­
Worcester, Mass.— Sales for the Y ear.— During the year
annually at the office of the City Treasurer. Maturity 1906 this city placed $274,325 of bonds, all of which were
thirty years, subject to call after ten years.
noticed in the “ Chronicle” at the time. Temporary loans
Wheeler County (P. O. Bartlett), Neb.— Bonds Not Issued. to the amount of $750,000 were also negotiated, the report
— We are informed that the $38,000 5 % 10-20-year (optional) of the following, amounting to $235,000, not yet having
bonds in aid of the Midland Central Railroad Co. voted on appeared in print:
Feb. 20 1905 (V. 82, p. 654) have not been issued, as the $50 ,0 0 0 lo a n a w a rd e d F e b . 9 t o W m . A . R ic h a r d s o n a t 3 .7 5 % d is c o u n t
M a tu r ity O c t . 12 1906.
road was never built.
$50 ,000 lo a n a w a r d e d A p ril 16 t o th e sin k in g fu n d a t 4 .1 0 % d is c o u n t.
White Plains, Union Free School District No. 1 (P. O.
M a t u r it y O c t . 15 1906.
White Plains), Westchester County, N. Y .— Bond Offering $20 ,000 lo a n a w a rd e d J u ly 30 t o th e sin k in g fu n d at 4 % d is c o u n t. M a tu r­
y O ct. 15 1906.
Postponed.— The sale of the $150,000 4 % bonds described $65i t,000
lo a n a w a r d e d A u g . 14 t o th e sin k in g fu n d a t 4 % d is c o u n t.
M a tu r ­
ity O c t . 15 1906.
in V. 83, p. 1552, which was to have taken place Jan. 11,
$50 ,000 lo a n a w a rd e d S e p t. 4 t o th e W o r c e s te r M e ch a n ics ’ S a v in g s B a n k o f
has been postponed until Jan. 29. The bids received were
W o r c e ste r a t 5 .9 0 % d is c o u n t ..^ M a tu r it y O c t . 11 1906.
not opened. Proposals will, therefore, be received until
Young County (P. O. Graham), Te x . — Bonds Registered.—
8 p. m. Jan. 29 1907 at the office of Guy H. Baskerville, On Jan. 9 an issue of $3,996 4 % 1-10-year (optional) bridgeSuperintendent of Schools, for $150,000 4 % bonds. De­ repair bonds dated Nov. 12 1907 was registered by the State
nomination $1,000. Date Jan. 1 1907. Interest semi­ Comptroller.
annual. Maturity on Jan. 1 as follows: $6,000 yearly from
Youngstown, Ohio.— Bond Sale.— On Jan. 14 the four
1908 to 1912 inclusive, $7,000 yearly from 1913 to 1917
issues of 5 % 3M-year (average) sewer and sidewalk bonds
inclusive, $8,000 yearly from 1918 to 1922 inclusive and
described in V. 83, p. 1610, were awarded to Hayden, Miller
$9,000 yearly from 1923 to 1927 inclusive. Certified check
& Co. of Cleveland at 102.40 and accrued interest— l •asis
on a State or national bank or trust company for 5 % of the
of about 4 .3 0 % . Following are the bids:
amount bid is required.
$3,030
W orth ing
Wichita, Kansas.— Bond Sale.— The issuance of $10,934 97
ton S t.
First Street paving asssesment and $10,133,82 Douglas
$3,0 0 0
$1,560
$1,400
& L oveless
W aldo S t.
J erry St
B readen
Avenue paving 5 % coupon bonds has been authorized.
A v e.
bonds.
bonds.
S
t.
bonds.
bonds.
Denomination $1,000. Date Dec. 1 1906. Interest semi­ H a y d e n ,M ille r & C o., C l e v e - - .$ 3 ,0 7 2 00 $ 1 ,5 9 7 44 $ 1 ,433
60
$ 3 ,102 75
annually in New York. Maturity one-tenth j'early. These B r ig h to n -G e r m a n Blc. C o., Cin. 3,070 80
1,589 65
1,425 25
3,101 65
tis & H o u g h , C le v e la n d _____ 3,0 6 3 30
1,592 92
1,429 54
3 ,0 9 3 93
bonds, we are informed, will be turned over to the contractor O
F ir e m e n ’s P en . F d .,Y o u n g s t ’n . 3,060 00
--------------1,428 00
3,091 00
in payment for work done.
S om erset B a n k , S o m e r s e t------- 3,0 5 5 51
1,589 01
1 ,4 2 6 01
3,0 8 5 67
1,588 30
--------------Wilkes-Barre School District (P. O. Wilkes-Barre), Lu­ D o lla r Sav. & T r . Co., Y n g s t ’ n ...............
M o rg a n P . R e e s , H u b b a r d —
------------1,5 8 6 17
--------------zerne County, Pa.— Bonds Not Sold.— No award was made B reed & H a rris o n , C in cin n a ti (b id In b u lk ) SO ,171 60
on Jan. 15 of the S98,000 4 % coupon school-building bonds R u d o lp h K le y b o lt e & C o ., C in cin n a ti ( b id in b u lk ) $ 9 ,0 8 6 20
All the above bids include accrued interest.
described in V. 83, p. 1552.

g tl5 ,0 0 0

ERVIN & COMPANY,

LOCKHART, TEXAS,

BANKERS,

6 % School Bonds.
Sea led b id s w ill b e r e c e iv e d u n til 3 P . M .,
F E B R U A R Y 4 , b y M . O . F lo w e rs , C it y S e c r e ­
t a r y , fo r $ 1 5 ,0 0 0 s c h o o l h ou se b o n d s , b e a rin g flve
(5) p er c e n t in te re st.
S ecu ritie s are In d e n o m i­
n a tio n o f $500 a n d w ill m a tu re In f o r t y (40)
y e a r s , th e c it y r eserv in g th e rig h t t o re tire $1,500
in liv e y e a r s , $ 2 ,5 0 0 in ten y e a rs , $ 3 ,000 in lifteen
y e a r s , $ 3 ,5 0 0 in t w e n ty yea rs a n d $ 4 ,5 0 0 in tw e n ­
t y - liv e y e a rs .
P r in c ip a l a n d In terest w ill b e
m a d e p a y a b le a t th e o ffic e o f th e S ta te T re a su re r,
o r a t th e N a tio n a l P a rk B a n k in N e w Y o r k C ity ,
o r a t th e F irst N a tio n a l B a n k in C h ic a g o , a t th e
o p t io n o f th e h o ld er.
C ertified c h e c k fo r $200 m u s t a c c o m p a n y e a ch
b id .
M. O. F L O W E R S ,
C ity S e c r e ta r y .

„

60 State Street,
BOSTON.

F. B. SH ERM A N & CO.
MUNICIPAL

and

[ BONDS

)

CORPORATION )

205 La Salle Street, CHICAGO
READY JAN. 15.
H A N D -B O O K
OF

Railroad Securities
JAN U ARY EDITION.
TERM S
Price ol SI dkIp Copleii
*
81 OO
To Subscriber# of the Chronicle, 73

B O V D ti

FOB

Eft V E S T M E N T

43 Exchange Place,
New York.

Drexel Building,
Philadelphia.

H. W. NOBLE & COMPANY,
N e w Y ork .

D etroit .
P hiladelphia .

PU B LIC SERVICE C O R P O R A TIO N

BO NDS.




DAY

&

CO.,

BANKERS,

4 0 9 W a ln u t Street,
C IN C IN N A T I, O.

Municipal,
County,
State,
and H igh -G rad e P u b lic
Securities

35 Congress Street,

3 Nassan Street,

BOSTON.

NEW YORK.

New York City Bonds
E X E M P T F B O n S T A T E , C O UN TY
AN D C I T Y T A X E S

Blodget, Merritt & Co ,
BANKERS,

16 Congress Street, Boston.
3 0 NASSAU S T R E E T . N E W Y O R K .

Albert Kleybolte & Co.,

Service

state,

crrr

*

r a il r o a d

bonds.

Adrian H. Muller & Son
A U C T IO N E E R S .

Regular Weekly Sales
OF

C o rre sp o n d e n ce S o licite d

STOCKS and BONDS

T H E SOUTH.

EYEET WEDNESDAY,

STR EET
Business Opportunities, Investment Office No. 65 W I L L I A M
Corner Pine Street.
Seeurities, Raal E state, Timber Mines,
Industrial Propsrties, Farm or Town
Mort ages in all parts of the South.

METROPOLITAN INVESTMENT CO.,
QUO . B . KDWJLRD8, F r a U e n t, Charkwtaa S.
n w im in lr il m 6 m & a tte l A*sa*. Bus
o ftta w o r M .

S A tte ta eto rr

Established 1 8 8 5 .

H. C. Speer & Sons Co.
First Nat. Bank Building, Chicago

Commercial & Financial Chronicle, C IT Y CO U N TY
Pine Street, cor. Pearl &tro<»t, New York

L.

(New York Stock Exchange,

AND

INVESTM ENT BONDS,

R

/ iie m o e r s j p M la de lj >h i4 g to c k

M U N IC IPA L

Perry, Coffin & Burr,

INVESTMENTS.

INVESTMENTS.

NEW LOANS.

AND TO W NSH IP

BONDS.

A Financial Courtship
Or a Plea for Conservative
Investments
(B y F ran k W . R ollin s)

The above book will be furnished
w i t h o u t cost on application to
E. H. ROLLINS & SONS, 21 Milk
St., Boston.

THE CHRONICLE.

SURPLU8

T itle

1,000,000

guarm xee

andTRUST

l x x x iv

.

Jfmaucxai.

& iw x u tm u
C a p it a l a n d $ |

[V o l.

C lM S S Y

176 Broadway, New York*
175 Remsen Street, Brooklyn.
198 Montagne Street, Brooklyn Banking Dept.
E x a m in e s & g u a r a n te e s Jtem.1 JSstate T itles,

OFFICE OF THE

ATLANTIC MUTUAL INSURANCE COMPANY.
New York, January 23rd, 1906.
The Trustees, in conformity with the Charter of the Company, submit the following statement of its affair$
on the 31 8/ of December, 1905.
Premiums on Marine Risks from 1st January, 1905, to 31st December, 1905................... $2,977,854 37
616,551 57
Premiums on Policies not marked off 1st January, 1905......................................................

L o a n s M o n e y o n B o n d a n d M o rtg a g e.

Total Marine Premiums.............................................................................................................

S3.594.405 94

F u r n is h e s m o r t g a g e s to In v en tor# .

Premiums marked off from 1st January, 1905, to 31st December, 1905............................

83,012,213 96

R ec eiv e * D e p o s its s u b je c t to ch eck , a llo tc im
In terest.
D oes a ll T r u s t C o m p a n y B u s in es s .
FINANCE COMMITTEE.
In Charge of Banking Interests.
ED W ARD T. BEDFORD.
CLAR EN CE H . K E L S E Y .
E D O A R L. M ARSTO N .
W ILLIA M H . N ICH OLS.
JAMES H . O L IP H A N T .
C H A R LE S A . P R A B O D Y .
JACOB H . SCH IF F .
JAMES S P E Y E R .
ED W ARD O. STAN LE Y.
CLARENCE H. K ELSEY

PraeMent.

FRANK BAILEY. Vlce-Pmltart.
BDWARD O. STANLEY Second Vic*-Pre«Ment
Manager B u U n g Department.
CLINTON D. BURDICK, Third Vlce-Preeidem.
J. WRAY CLEVELAND, Secretary.
ARTHUR TERRY. Treaaarec.
FRANK L. SNIPFBN, Manager Brooklyn Baatta*
Department.

Atlantic Mutual lnsuranoo Company Sorlp
of All Tears Bongbt and Sold.

JOHN M„ GILLESPIE,
Boom No. 518 A tla n tic Building,
49-51 Wall Street,
NEW YORK.

R. A. Lancaster & Sons
BA N K E R S,
NO

10

T V A iiL i S T R E E T .

NEW YORK,
DEALEKSIN

INVESTMENT aati MISCELLANEOUS
SECURITIES.
S ou th ern

S e c u r it ie s a S p e c ia lt y .

1906

1860

The United States Life
Insurance Co.
IN THE CITY OF NEW YOBK

JOHN P. M UNN, M.D., President.
F in an ce C o m m itte e
JAMES E . PL U M ..................................................... Leather
CLAREN CE H . K E L S E Y . Pres. Title Guar. & Tr. Co.
WM H P O R T E R ___Pree. Chemical National Bank
Good men, whether experienced tn life insurance
or not, m ay make direct contracts with this com pany
tor a limited territory lt desired, and secure lor them­
selves in addition to first year's commission, a renewal
Interest Insuring an income tor the future. Address the
Company at its Hom e Oftlce, N o. 277 Broadway. New
Y ork City.

f^ugmeets.

H. M. ByUesby & Coc9
IN C O R P O R A T E D

ENGINEERS,
DESIGN, CONSTRUCT AND OPERATE
RAILWAY

LIGHT, POWER,

HYDRAULIC AND
GAS PLANTS.

Examinations and Reports-

Interest received during the year............................................ $295,738 65
Rent, less Taxes and Expenses................................................
99,338 33

Less Salvages.............................................. $130,068 59
Re-insurances..............................................
35,947 85




166,016 44
$932,380 11

Returns of Premiums...................... ................................................................
$80,615 47
Expenses, including officers’ salaries and clerks’ compensation, sta­
tionery, newspapers, advertisements, &c......................................
$374,746 88
The Company has the following Assets, viz.:
United States and State of New York Stock, City, Bank and other Securities.................
Special deposits in Banks and Trust Companies....................................................................
Real Estate corner Wall and William Sts. and Exchange Place................ $4,299,000 00
Other Real Estate and claims due the Company.........................................
75,000 00
-------------- ;---Premium notes and Bills Receivable. .....................................................................................
Cash in the hands of European Bankers to pay losses under policies payable in foreign
countries..........................................................................................................................
Cash in Bank...............................................................................................................................

$5,198,042100
1,583,212184
4,374,000 00
1,127,674 83
175,632 33
257,865 62

Aggregating..................................................................................................................... $12,716,427 62
A dividend of Six per cent interest on the outstanding certificates of profits will be paid to the
holders thereof, or their legal representatives, on and after Tuesday the Sixth of February next.
The outstanding certificates of the issue of 1900 will be redeemed and paid to the holders thereof
or their legal representatives, on and after Tuesday the Sixth of February next, from which date all
interest thereon will cease. The certificates to be produced at the time of payment and canceled.
A dividend of Forty per cent is declared on the net earned premiums of the Company for the
year ending 31st December, 1905, for which, upon application, certificates will be issued on and after
Tuesday the First of May next.
By order of the Board,
G. STANTON FLOYD-JONES, Secretary
TRUSTEES.
W. H. H. MOORE,
GUSTAV AMSINCK,
HERBERT L. GRIGGS,
NICHOLAS F. PALMER.
FRANCIS M. BACON,
CLEMENT A. GRISCOM,
H ENRY PARISH,
JOHN N. BEACH,
ANSON W . HARD,
W ILLIAM B. BOULTON,
DALLAS B. PRATT,
MORRIS K. JESUP,
GEORGE W. QUINTARD,
VERNON H. BROWN,
THEODORE P. JOHNSON,
WALDRON P. BROWN,
A. A. RAVEN,
LEWIS CASS LEDYARD,
JOSEPH H. CHAPMAN,
JOHN L. RIKER,
FRANCIS H. LEGGETT,
DOUGLAS ROBINSON,
GEORGE C. CLARK,
CHARLES D. LEVERICH,
GUSTAV H. SCHWAB,
GLEVELAND H. DODGE,
LEANDER N. LOVELL,
WILLIAM A. STREET,
GORNELIUS ELDERT,
GEORGE H. MACY,
RICHARD H. EWART,
WILLIAM C. STURGES.
CHARLES H. MARSHALL,
EWALD FLEITMANN,
A. A. RAVEN, President.
CORNELIUS ELDERT, Vice-President.
THEO. P. JOHNSON. 2d Vice-President.
JAMES L. LIVINGSTON. 3d \Tict-Pre*ident.

You Wouldn't Start a Horse-Car Line
in this age of electric cars? Not if you wanted to make money out of the business
of transportation.
Then why should you start a manual telephone exchange in this age of auto­
matics, if you want to make money out of the telephone business?
The automatic system of telephony bears the same relation to the manual
system that the electric car does to the horse car. It is the apotheosis of tele­
phone development, as the electric car is of transportation development.
The automatic telephone system produces the best service more economcially
than indifferent service can be produced with manual equipment.
There is no more question as to the relative popularity of the automatic and
manual telephone service where the two kinds are in competition than there is
as to the relative popularity of the trolley car and the horse car.
And, as for the securities— the same comparison may be applied with the same
results.
Our Automatic system hai been adopted la the following cities:
Columbus, Ga.
Marlanao, Cuba.
Aberdeen, S. D .
D ayton, Ohio.
Marion, Ind.
Akron. Ohio.
El Paso, Texas.
M edford. WIs.
Albuquerque,*N. M.
Fall River, Mass.
Allentown, Pa.
Mlamlsburg, Ohio.
Ferguson, Mo.
Aubum . Maine.
Mount Olive. 111.
Grand Rapids, Mlcb
Auburn, N . Y .
New Bedford. Mass.
Hastings, Neb.
Oakland. Cal.
Battle Creek, Mich.
Havana, Cuba.
Bellingham. Wash.
Ocean Park, Cal.
Hazleton, Pa.
Berlin, Germany.
Pentwater. Mich.
Hopkinsville. K y.
B uxton, Iowa.
Portland, Me.
Jonesboro. Ark.
Cadillac, Mich.
Portland, Ore.
Lake Benton, Minn.
Champaign. 111.
Princeton N J.
Lewiston, Me.
Chicago, 111.
Richmond Ind.
Clayton. Mo.
Lincoln. Neb.
RItmk Wo. Cal.
Los >ugelee, Cal.
Cleburne, Texai
San Dleffo, Ca
Manchester. Iowa
Columbus, Ohio
San Francisco, Cal.
Santa Monica, Cal.

Sioux City. Iowa.
South Bend, Ind.
Spokane, W ash.
Springfield. Mo.
St. Mary's Ohio.
Tacom a. Wash.
Toronto Junction,
Traverse City, Mich
Urbana, 111.
Van W ert. Ohio.
Walla Walla. Wa
W atch Hill. R. I.
Wausau. WIs.
Westerly, R. I.
Wilmington. Dei.
W oodstock, N .B .. Cana4a.

A U T O M A T I C E L E C T R IC GO.,
Van Buren and Morgan Streets

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Price fo r File Covers, 5 0 Cents.
Postage, 18 Cents
C h arge fo r B inding Volum es, $1 5 0 .

W IL L IA M
American Trust Building., CHICAGO

$395,076 98

Losses paid during the year which were estimated in 1904
and previous years......................................................... $271,100 60
Losses occurred, estimated and paid in 1905.......................... 827,295 95 SI,098,396 55

13. D A N A

CO.,

Publishers.

76H PINE STREET, CORNER PEARL STREET, NEW YORK.