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TWO
1M
.
SECTIONS—SECTION
ONE-
■
i
|
ommfrrial §•
INCLUDING
Quotation Section
Railway Earnings Section
Bank &
-
Railway & Industrial Section
Bankers’ Convention Section
Copyrighted in 1910, by William B. Dana Company, New York.
VOL. 90.
Electric Railway Section
State and City Section
Entered at N. Y. Post Office.as second class mail matter.
NEW YORK, JANUARY 29 1910.
financial.
NO. 2327.
gitratxjcial.
FISK & ROBINSON
BANKERS
AMERICAN BANK
NOTE COMPANY
BROAD A BEAVER STS., NEW YORK
Business Founded 1796.
Reorganised 1879
Government Bonds
THE LIBERTY
City of New York Bonds
NATIONAL BANK
Investment Securities
New York StecklExchange
Engravers » Printers
BANK
OF NEW YORK
NEW YORK- BOSTON -CHICAOO
NOTES, STOCK CERTIFICATES,
138
BROADWAY
BONDS FOR GOVERNMENTS AND COR¬
PORATIONS, DRAFTS, CHECKS, BILLS
OF EXCHANGE, STAMPS, ETC., WITH
SPECIAL SAFEGUARDS TO PREVENT
COUNTERFEITING j9 LITHOGRAPHIC
AND TYPE PRINTING
The National Park Bank Harvey
Fisk & Sons
of New York.
NEW YORK.
OEtOXHTXXD 1866.
RAILWAY
TICKETS OF IMPROVED STYLES
Capital
$3,000,000 00
Surplus and Proflte
9.012,510 28
DspMlti Mst. 16, 1900^.107,340,305 90
Branches in the United States
RICHARD DHLAFIKLDt
BOSTON
PHILADELPHIA
PITTSBURGH
SAN FRANCISCO
BANKERS
Government, Railroad and
Municipal Bonds,
pRiamtvr,
GILBERT G. THORNE.
JOHN G MoKEON.
TX0»PRSSIDKHT.
TIO»>PBB8XDSm
JOHN CL TAN CLEAF.
nOU-PBMttDXNT.
MAURICE H. EWER,
nmw.itt.
WILLIAM
a JONES,
WILLIAM A. MAIN,
ASST. GASHIBB.
INVESTMENT SECURITIES.
Phlapultia, represented by
Jambs H.
Cmafmatt, AH Chestant St.
Chicago, represented by D. K. Drake,
MS La Sails 94
Boston, Mass., represented bj
m
John B. Moulton, 85 Congress St
ASST. OAPHIMB.
FRBIPK a FOXCROFT. A88T. OASHIKB.
Members of Richmond and Baltimore Stock
Exchangee.
John L. Williams & Sons,
BANKERS,
Edward B. Smith & Co.
BAN ILEUM
CHARTERED 1810,
Comer 0th and Main Streets,
MECHANICS’
RICHMOND, VA.
Baltimore Correspondents:
33 Wall Street.
GARFIELD NATIONAL BANK
Fifth Avenue Building
Corner 5th Are. and 23rd St.
N
B. Cep. Bread A Chestnut Sts
Capital,
-
-
Chase National Bank
Clearing Hence Building
Cat. A Sort., fll.68S.119
•
3,000,000
ORIGINAL CHARTER 18*9.
Dep.. U0i,f00.000
THE
INVESTMENTS
GALLATIN
NATIONAL BANK
MUNICIPAL, RAILROAD AND OTHER
OF THE CITY OF NEW YORK
Francis Ralston Welsh,
A. B. HEPBURN. President
A. H. Wlggin, V.-Pres. C. C. Slade, Asst. Cash.
S. H. Miller, V.-Pres.
E. A. Lee. Asst. Cashier
H. M. Conkey, Cashier W. E. Purdy, Asst. Cash.
A. C. Andrews, Asst. Cashier
BONDS
828 CHESTNUT
Capital .....
$1,000,000
STREET, PHILADELPHIA Surplus 4c Proflte (earned) 2,460,000
E^IIIPHENT OF THE
NATIONAL.
OFFICERS
BANK
OF THE CITY OF NEW YORK
Thu
—CORNER NASSAU AND PINE
Merchants National Bank
STREETS
—
IS
ESPECIALLY
ARRANGED FOR HANDLING
MERCANTILE ACCOUNTS.
Phlla del phis
$8,000,000
-
RUEL W. POOR, President
JAMBS McCUTCHKON, Vice-Pres.
WILLIAM L. DOUGLASS, Cashier
ARTHUR W. SNOW Asst. Cashier
FOURTH
.
Surplus, $1,000,000
Capital, $1,000,000
THE
Exchanges,
S7 PIne Street; New York
Surplus.
New York
Members New York and Phlla, Btoek
BANK.
MlDDVNDOR* WILLIAMS A CO
INVESTMENT SECURITIES
NATIONAL
of
Philadelphia
Capital,
Surplus,
Samuel Woolverton. President
Adrian Iselin Jr, Vice-President
Georoe E. Lewis Cashier
Howell T. Manson, Assistant Cashier
-
$1,000,000
$900,000
ACCOUNTS INVITED
DIRECTORS
Array aw I—j» Jn.
FBNDNB10 W. STSTSUS
ALNXAMPNB H. STNVUBIS
w. bmubt Boosntnlv
t
a
r
s
CHAS. A. PlAieUT
SAMUIL TTlIIU I —
CHABLUS H. TwKB
Thomas dummy
n
THE CHRONICLE
[VOL. LXXXX.
Sftttfeets attd Stawrjtut art gevtigu gsclumgc.
J. P. MORGAN & CO.
DOMESTIC AND FOREION BANKERS
Wall Street, Corner of Broad
Maitland,Coppell & Co., Kidder, Peabody & Co.,
US DEVONSHIRE
NEW YORK.
v; .y NEW YORK
DREXEL * CO,
WIU.UM STREET,
SSt
.
PHILADELPHIA
Corner of 6th and Chestnut Streets
•
L.;
•.
:
;
.
;
..-u
66 WALL
v;.
Orders executed
Act as agents
issue Loans.
for all Investment Securities.
of Corporations and negotiate and
MORGAN, GRENFELL & C0„ LONDON
Bills of Exchange, Ielegraphi
hie IroiM/srs,
Letters of Credit,
No. 22 Old Broad Street
ON
MORGAN,
:
t
HARJES & CO„ PARIS
si Boulevard Haussmann
Deposits received subject to Draft
Securities bought and sold on Commission
--
Interest allowed
Deposits
Foreign Exchange. Commercial Credits
Cable Transfers
Otroular Letters for Travelers available In all parts
BOSTON.
NEW TORE.
59 Wall St.
London,
Moms. N. Y„ Phila„ Boston A Baltimore St’k Exch’s
I TlVftSt.TTl ftirfc
Of Banks, Bankers. Corporatfams, Firms and individuals
on favorable terms. Collect
flanimiti aq
0GCUTTDIGS,
_
And its Brancbee.
Agents tor the Bank ot Australasia the
Guiana Bank. Demerara. etc., etc.
British
INTERNATIONAL CHEQUES.
CERTIFICATES OF DEPOSIT
Buy and sell Bills of Exchange
and make cable transfers on all
/
01 ureait.
points.
A rents and Attorneys
BARING
Issue Commercial and
RROWN, SHIPLEY & CO., LONDON.
LTD
LONDON
August Belmont & Co.,
J. & W. Seligman & Co.
BANKERS,
NEW YORK
Members of New York Stock Exchange
Agents and Correspondents of the
Measre. ROTHSCHILD,
Buy and Sell Investment Securities.
London, Parla and Vienna,
ISSUE LETTERS OP CREDIT
FOB
TRAVELERS,
Available In all parts ot the world.
Draw Bills of Exchange and make Telegraphic
Transfers to EUROPE, Cuba, end the
otner West indies, Mexico and California.
Execute ordera fer the purchase and sale
ef Beads and Stocks,
Travelers’ Credits, available in
all parts of tbe world.
foe
BROTHERS & 00.
TRAVELER*’ LETTERS ok credit
Available throughout the Dulled States.
,
drafts drawn abroad on all points n the United
States and Canada; and drafts drawn in the United
States on foreign countries, including South Africa
I ,of+orfl
UbvbCl D
LETTERS OF CREDI7.
~
Messrs, Mallet Freroo Ac Cle., Paris,
Banco Naelonal do Mexico
No. 23 NASSAU STEET.
OOSWOnP BT PRIVATE WIRE.
vestment*Securitie^orfoon£
Receive accounts
FOREIGN EXCHANGE.
BANKERS,
ALEX. BROWN A SON8. BALTIMORE
mission.
mVESlMEm SECURITIES.
w->
Brown Brothers & Co..
PHIXJL
BANKERS.
Union of London <fe Smiths Bank, Limited,
on
of the world
i
STEEET, BOSTON
STEEET, NEW YOU
Cuyler, Morgan & Go.,
44 Pine
Issue Letters of Credit for Travelers
Available in all Parts of the World.
DRAW BILLS OF EXCHANGE AND MAKk
TELEGRAPHIC TRANSFERS OF MONEY TO
EUROPE AND CALIFORNIA
Seligman Brothers, Louden, •
Seligman Freres A Cle., Parts.
Ala berg, Goldberg A Co,, Amsterdam.
The Anglo and London-Paris National
Bank of San Francisco, CaL
Street, New York.
BANKERS
"IAILER&GD
Redmond ado.
INVESTMENT SECURITIES.
27 Piae Street, New York
BANKERS
MEMBERS MIW YORK STOCK EXCHANGE.
31 -33 Pine Street, New York
BANKERS
LawrenceT urnure&Co.
614 Fifth Ave., N. Y.
SOT Chestnut Street. Philadelphia.
IN VESTEEN1
Cables "Mimosa."
SECURITIES
Members of the New York Stock Exchange
64-66 Wall Street, New York.
Deposits received subject to draft. Interest al¬
lowed on deposits. Securities bought and sold on
commission. Travellers credits available through¬
out the United States, Cuba, Puerto Kioo. Mexico,
Central America and Spain. Make collections in and
issue drafts and cable transfers on above countries
London
Winslow, Lanier & Co.,
59
CEDAR
NEW
Bankersi
—
London
Jolut-*toek
Bank, Limited,
Letters
of Credit and Travelers*
available the world over.
Rills of Exchange and Cable Transfers.
Deposits received subject
interest
Members
Paris Bankers*— Heine Ac Co.
oheque
deposits.
to
on
York Stock
New
Act
NEW YORK
and
Exchange.
as
Fiscal Agents.
Dealers In High-Grade Investment Securities.
Produce Exchange Bank
BANKERS.
allowed
Securities bought and sold on commission.
STREET,
YORK.,
Cheques
Lists upon application.
BROADWAY. Corner BEAVER ST.
Deposits Received Subject to Draft, Interest
Allowed on Deposits, Securities
Bought and Sold on
Capital, Sugplns earned,
*1,000,000
500,000
Foreign Exchange bought and sold.
Commission,
Foreign fcxctiange, Letters oi Credit,
Gable
Transfers. Commercial and Travelers’ Letters of
Credit available In all parts of the world.
Graham & Co.
BANKERS
486 Chestnut
ACCOUNTS INVITED
Street,
PHILADELPHIA
Kean,V anCortlandt&Co Heidelbach, Ickelheimer & Co..
BANKERS,
BANKERS,
37
SO PISE STREET, NEW YORK*
transact
a
General
foreign
ana Domestic
Banking Business.
Railways and Gas companies
William Street,
MEMBERS N. I
of
Execute orders (or purchase and talo of
Stocks and Bonds.
issue Commercial and
NSW YORK
BOSTON
Letters of Credit lor Travelers
Oredlts.
Foreign Exchange.
Gable Transfers.
M UNROE A
00., Paris
Act
as
value
Financial Agents
Issue Foreign and Domestic Letters of
Credit and Travelers* Chernies
Traveler*! Credits
availabis in ail parts ot the world.
Schulz &
John Munrob & Co.,
established
STOCK EXCHANGE.
Foreign Exchange Bought and Bold.
Dealers in Investment Securities.
Government and Municipal Bondi,
Securities of Railroads, Street
Ruckgaber, Knauth.Nachod & Kuhne
BANKERS,
15 William Street, -
.
Now York.
Membcn New York Stock Exchange;
** Correspondents of Messrs.
FrahUng A Goschen, London.
John Berenberg-Goesler a Go., Hamburg.
Marcuard. Meyer-Borel a Ole. Paris.
Bremer Bank Flllale der Dresdner Bank;
Bremen,
Issue Commercial a Travelers’ Credits.
Buy and Sell Bills of Exchange.
Cable Transfers a Investment Seoarttfea
,
BANKERS.
NEW YORK
LEIPSIQ, GERMANY
Mombcss New York Stock
Eahugs
INVESTMENT
SECURITIES
"v.
Jan. 29
1910.]
'Yv
...
V
THE CHRONICLE
Sattfuvs.
in
Santuvs.
throb***.
Wm. A. Read&Co.
Lee, Higginson & Co.,
jen
BANKERS.
BANKERS
BOSTON
New York
Investment Securities.
Chicago
R5
HIGGINSON * CO.
1 Bank
Bindings, Prince* i Strut,
MgB. Ossmaa St.
BALT1MORR
BOSTON
MS La SeSs St.
CHICAGO
Members New York and Boston
Stock Exchanges.
Plympton,Gardiner & Co,
BANKER8
46 WALL
Exchanges
97 William
ST,, NEW YORK,
Investment Securities.
Safety Deposit Vaults for Use
t Chicago Stock
BONDS
of Customers,
Exchange,
Philadelohia.
INVESTMENT.
on
Deootit Accounts.
Chicago.
San Francisco
GEO. P. BUTLER & BROi
85 Wall Street
NSW YORK
Members N. Y. Stock Exchange
**"5
RAILROAD AND OTHER
BRANCH OFFtCE8:
*'
INVESTMENT SECURITIES.
CHICAGO, ILL.
SCRANTON, PA.
WILKES-BARRE. PA. BINGHAMTON. N.Y.
ELMIRA. N. Y.
Pins 8treot, Comer WUIIam
NEW YORK
JT
> '
.
*
K.
*
* V**
1
r5 ■
*
«
-V
.
•.(!
m*
.
Goldman, Sachs & Co.,
18 Federal St*. 178 Devonshire St.
BOSTON
BANKERS
Receive depoeits subject to check
end allow interact on balances.
Act as fiscal agents tor munici¬
and
corporations.
Iseue
of
credit
and
deal
In
FOR
Interest Allowed
Financial Representatives of the Automatic
Electric Company
N.W. HARRIS & CO
totters
BANKER8.
49 Wall Street, NEW YORK.
AND
LISTS ON BEQUEST
BANKERS
Exchange.
N. W. HALSEY & CO.,
High-Grade Bonds
Conservative investments.
palities
Members New York Stock
DEALERS IN
St., New York
.3*4 U Ml, St.. Chicago.
New York
Boston, IO Poet Office Square.
J. B. RUSSELL & CO.
Members Hew York end Chicago Stock
Street,
Dealers in
HIGH-GRADE BONDS
NASSAU STREET,
NEW YORK,
If Congnoo St,
LONDON, E. C.
S3 Wall
66 WALL STREET,
NEW
Members of New York Stook
YORK,
Exchange.
I Executes orders for purchase and
sale of Stocka and Bonds.
Bay and Sell Foreign Exchange.
GABLE ADDRESS "COLDNESS."
•
BONDS FOR INVESTMENT
‘
H.B. HOLLINS & CO.
Cor. of Wall and Broad Sts., New York.
Draw Bills oi Exchange
Cable Transfers to Europe,
and make
Asia, Aus¬
tralia, the West indies. Central and
South America and Mexico.
issue Letters oi Credit for Travelers,
available In all parts of the world.
LIST ON APPLICATION
Issue Commercial and Trevelers*
Letters of Credit,
Available In all parts of the world.
Blake Brothers & Co.,
59
Exchange Place,
14 State Street,
BOSTON.
HEW YORK,
Dealers in
DEALERS
9 and 11 Wail Street, New York,
Commercial Paper.
Investment Securities.
Exchanges
Member* New York Stock
BOISSEVAIN & CO.,
BROAD
STREET.
NEW YORK
Members New York Stock
Adolph Boi see vein ft Co.;
Amsterdam. Holland.
rBAN8AOT A GENERAL BANKING AND
STOOK EXCHANGE BUSINESS.
,
BOND
ment or on
17 Broad Street,
NEW YORK
Exchangee
74 State Street,
BOSTON
King Street, West, Toronto, OnL
Hospital Street, Montrea1, Qoe.
10 Federal Life Bldg.,Hamilton, Out.
103 Banigan Bldg., Providence, R. I,
4
Private
wires
connecting all offieee
margin.
to
all Farts of the
World,
WOLLENBERGER & GO
n a mr vua
IS
NLNI IkJhiA&B
Specialist* In
Foreign Government Bonds
Oanaapondenoa Invited.
CRAMP, MITCHELL & SHOBER
206 La Salle Street
CHICAGO
BANKERS
1411 Chestnut St.,
Philadelphia
Members New Yerk and Phils. Stock Kmhangaa
Stem &
Schmidt,
FOREIGN EXCHANGE.
INVESTMENT SECURITIES
9? WILLIAM STREET, NEW YORK.,
&
GOODWIN
Investment Securities
Corporation and Collateral Loans
Commercial Paper
Mao
*
-.
INVESTMENT 8B0URITIX9
Members New York Stock
and Boston Steek
Exchange
Exchange.
Exchange.
FOREIGN EXCHANGE Bought SSoM
LETTERS OF CREDIT ISSUED.
BANKERS
•eagrees St.
BOSTON
Co.,
.
Orders executed for stocks end bonds for invest¬
Cable Transfers
84
Forshay,
BANKEBS.
a, and other
MUNICIPAL BONDS.
Member* of
New York and Boston Stook
20
Zimmermann &
NEW YORK CITY
Members New York A Boston Stook
IN
Investment Securities
and Commercial Paper
Charles ? Head &
Ill
Broadway
NEW YORK
C. G. YOUNG
ENGINEERING AND
Members N Y. Stock. Cotton «nd Coffee tsxeaeogea.
Shoemaker, Bates & Co.
BANKERS
CONSTRUCTION OF
PUBLIC UTILITIES AND INDUSTRIALS
60 Wall
Street, New York
PHYSICAL AND FINANCIAL REPORTS
"J’ ’v
•« LaSalle St.
in any* part of the world
CHICAGO
TWENTY YEARS EXPERIENCE
INVE8TMENT8ECURITIES
37-43 Wall St., NEW YORK,
Waldert-Astelia and 600 Fifth Ave„ N.Y
Real Set. fr.BIdg., Philadelphia
IT
[VOL.
THE CHRONICLE
Bank of Montreal
mmiihtoi inn
BANK, The Union Discount Co.
CAPITAL
114,400,000 M
paid In
of London, Limited.
REST
DEUTSCHE
BERLIN. W.
■
Bohrenstiasse • to IS.
$47,619,000
M. 200.000.000.
-
Telegrapblo Address. Udlsoo. London.
Capital Subscribed
$7,500,000
S ,760.000
2.800.000
$24,690,000 Paid-Up
-
M. 10S.099.00t.
Reserve Fund
Dividends paid during last ten gears:
Hi II. 11. 11. 11. 12. 12. 12. 12. 12. per oent
$5»S1 STERLING.
NOTICE
HEREBY GIVEN that the
RATES OF INTEREST allowed for money on
IS
deposit are as follows:
Branches:
DRESDEN. FRANKFORT-O-M.. At Call. 9 Per Cent.
HAMBURG. LEIPSIO, MUNICH.
At S to T Days’ Notice. 2H Per Cent.
NUREMBERG, AUGSBURG.
The Company discounts approved bank and
WIESBADEN.
mercantile acceptances, receives money on de¬
BRUSSELS, CONSTANTINOPLE
posit at rates advertised from time to time, and
and the
on approved negotiable securities.
grants
CHRISTOPHER R. NUOENT. Manager.
Doutscho Bank (Berlin) London Agenej
4 George Yard. Lombard St..
LONDON,'X. 0.
FRENCH FINANCE CORPORATION
BANCO ALEMAN TRANSATLANTICO
OF AMERICA.
CDmheke Ueberseeleohe BankJ
($7.1U,000)
M 20,000.000.
PAID.UP
Purchasers ofXFirst-Class
($1,469,000)
6,170.000.
la vestment
Securities for flto French
CAP^mjji:--(».4n^«)
RESERVE FUND-—
M.
12,000,000 00
368,311 06
UHMVIUMD PROFITS',
Head Office—Montreal
Rt. Hon. Lord Stratbcona and Mount Royal.
G. C7M. G.. O. C. V. O.—Honorary Pwslaent
Hon. Sir George Drummond.
K. C. M. G.. C. V. O.—President.
Sir Edw. Clouston Bart.—V.-Pres. A Gan. Mgr.i
^
NEW YORK OFFICE,
BREMEN.
SUBSCRIBED CAPITAL.
-
SO CORNH1LL.
CAPITAL
RESERVE
gxuks.
dsBadian
"ganctign.
LXXXX.
BERLIN
IN THE OBTAINING OF LOANS AND SALE
Aina. Oerdeba, Tuouman.
BOLIVIA: La Pas. Onto.
Ip.
.1
OF SECURITIES.
PARIS.
NEW YORK.
SB Ms
40 WnE Street.
rua
Agents.
Buy and sell Sterling and Continental Exobangs
and Cable Transfers: grant Commercial and Trav¬
elers* Credits available in any part of tbs wiridl
Issue drafts on and make collections In Gbioage aad
toreugbont the Dominion of Canada.
London Office. No. 44 A 47 Threadnoadle St
P. W. TAYLOR. Manager.
Canada'.
Merchants’ Bank of
HEAD OFFICE MONTREAL
}AKn“-
ACT AS FINANCIAL AGENTS IN FRANCE
HEAD OFFICE
Branrhef
ARGENTINA: Babla-Blanoa. BeU-VUle. Bueaee
R. Y. HEBDEN.
W. A. BOG.
J. T. MOLINEUX
CAPITAL
$6,000,006
Rest and Undivided Profits
4.602,197
NEW YORK OFFICE, 62 and 65 Wall St.
Market.
FOR AMERICAN RAILWAY CORPORATIONS
Kanonlerstrasse 29 to SO.
No. 31 PINE STREET
129 branches In the Provinces of Quebec, Ontario.
Manitoba. Saskatchewan. Alberta and British Co¬
lumbia. Good facilities for effecting prompt eefr
lections in Canada. Buy and sell Sterling Exchange
and Cable Transfers. Issue Commercial and Trav¬
elers’ Credits available In any part of the world.
London Agents—Royal Bank off Scotland
d* Anjou.
OHXLX: Antofagasta. Oonoepdon. Iqxdque, Osorao.
M
Santiago. Temuoo. Valdivia, Valparaiso.
PERU: Arequlpa. Callao. Lima. Trujillo.
VRUGUAT: Montevideo.
SPAIN: Barcelona. Madrid.
MBs sent ftr coUsctlon, negotiated er
Draffs. MNtowuffri and letters
The London City &
Midland Bank, Limited,
Berliner
Handels-Gesellschaft,
HEAD OFFICE
Street. London.
England.
S Threadneedle
«f eredtt issued.
BERLIN, W„ 64
London Agents
DEUTSCHE BANK (BERLIN) LONDON AO*T
GEORGE Y*D. LOMBARD ST.. LONDON. B.O.
Behrsnatrasae 334$ and Praiisoaisdl>6-&txsese 49
With Branches In aU the Principal GKtos and
Towns of England and Wales.
TelsgrapMe Address—Sandelseha/t. MerUn
TWegraphlo Addrem: Cinnabar. London.
ESTABLISHED 1SSS
SUB80BIBED CAPITAL, $91,178,400
ESTABLISHED 1856
Direction der
PAID-UP CAPITAL,
Banking transactions ofIE very Description
Disconto-Gesellschaft,
ESTABLISHED 1861
BERLIN W. 42-44 Behrenstmsss
BREMEN. FRNAKFORT-e-M.:
Capital,
-
He serve,
-
-
-
-
-
-
M.
$40,470,200
M. 170.000.000.
THE HAGUE, HOLLAND
Place American Investments In Enrepe
Swiss Bankverein
Schwelserlscher Bankverein
BXBBRVS
A. SOHOELLER.
M.?80HIN0KEL.
A.lSALOMONSOHN.
I
E. RUSSELL,
F. URBIG.
Agendas at Roreohaob, Ohlasao and Herlsau
LONDON OFFICE, 43
Bank Capital paid up,
Surplus,
DEUT8CHLAND.
....
CAPITAL
M. 10.000.000 00
BtoMhas:
Head Office: HAMBURG.
RIO DB JANEIRO. SAO PAULO.
SANTOS. PORTO ALEGRE. BAHIA.
Bank fur Chile und
Deutschland.
Frs.62,800,000
Frs.16,330,000
The National Discount
Company, Limited.
SC CORNHILL.
...
LONDON. B. C.
Cable Address—Natdls: London.
Subscribed Capital
Paid-up Capital
M. 10.000.000 00 Reserve Fond
HAMBURG.'with branches la CHILE (Banes 4s
CSSs AAlemaala). Antofagasta. Ooaeepsloa. esatlago.
Ttosnss. Valdivia. Vamarsise. VisterU; and la
POTiTTT 4 UBsaes de ChOe A
Session Boilvtoaa). LajPes aad Orurs.
•
Lothbury, E.C.
$21,166,626
4.2SS425
2.166.000
($5—61 STERLING.)
RANEUTG CORPORATION
Paid-up Capital (Hong Kong Currency)
S1S.000.9N
Fund/ lnQold._Sli.000.0001
80.2S0.NS
Beam
InSUver. 15,260 0N|
Reserve LlabDities of Proprietors
li.0N.0N
GRANT DRAFTS. ISSUE LETTERS OF CREDIT,
NEGOTIATE OR COLLECT BILLS PAYABLB IN
CHINA. JAPAN, PHILIPPINES. STRAITS 8ETTLBIIENTS, INDIA, TAIPEH, MALACCA. ETC.
WADB GARDNER Agent. 36 WaU St.
Wiener Bank-Verein
ESTABLISHED 1869
CAPITAL (fully
paid)
-
$26,342,0«9
-
(180,060,000 crowns)
RESERVE FUNDS
-
-
-
Fraakfort-e-M., Mains
la Hamburg.
$7,90$,$N
(29.000,000 crowns)
HEAD OFFICE VIENNA
(AU8TBIA)
Branehes in Austria-Hungary.
NOTICE IS HEREBY GIVEN that the
RATES OF INTEREST&allowed for moaey£en
deposit are as follows:
At Can. 1 Pet Cant Per Annum.
At S to T or 14 Days’ Notice. IX Per Cent.
by Ito
a Ltobav.
Hong Kong & Shanghai
l
Bra8iliani8che
CAPITAL.
Tel. Address. Voce.
Codes: Hartfleld’s Wall St..W.U.
Basle, Zurich, St Gall, Geneva
57.690.611.
IPffft Me unlimited personal liability
of toe following partners:
FUR
Bankverein Suisse
$13,712,526
M.
•
VAN OSS 8b CO.
34,500,000
LONDON E. C..
68 CunUll
-
-
18,986,600
17,096,960
Or EDWARD H. HOLDEN, But..
Cb.inn.ii and Man.,in. Director.
M.110,000,000
MAINZ. WIESBADEN.
CAPITAL, tolly paid,
RRSERVRTUHD,
•
-
Klagenfurt, Krakau, Lemberg, Maritabad, Meran, Pileen, Prag, Priemyd.
Approved hank and mercantile hills dlsssnatod. Proasnits, St. Polten, Tamow.
TepUta,
Monty received on deposit at rates advertised
Dem tone to tone ana far ftxed periods apoa
Teechen, Villach, Wr. Neustadt.
M
■serially agreed terms.
d*
Loaas granted on approved negotiable seserttles.
PHILIP HAROLD WADB. Manager.
Branch in
Tnrkay.
Constantinople.
Jan. 29
THE CHRONICLE
1910.]
Ssttks xod Sattfeevs.
@ana4iatx ^anfe*.
THE
BANK
OF COMMERCE,
CANADIAN
HEAD OFFICE.
TORONTO
6.000.000
NEW YORK OFFICE:
Not.
16
AND
Wm. Gray and
Mackay & Co.
$10,000,000
PAID-UP CAPITAL
SURPLUS
18 EXCHANGE PLACE
O. D. Mackintosh; Agents.
Buy and Sell Sterling and
dtange and Cable Transfers,
Continents' ExCommercial and
Travelers’ Credits. Collections made at aD points.
Banking and Exchange business of every de¬
scription transacted with CanadaLONDON OFFICE—2 Lombard Street.
Edward Sweet & Co.
BANK MB 8
Exchange
Members N. T. Stock
Members of the New Tork
Stock Exchange. Dealers in
Government Bonds and other
In¬
Investment Securities.
terest allowed on
deposits,
Bankers & Brokers
17 NASSAU STREET
E. C.
NEW YORK
BANKERS IN GREAT BRITAIN:
The Bank of England.
The Bank of Scotland
Nassau and Pine Streets
ESTABLISHED 1864
Lloyd’s Bank; Limited.
Union of London and Smith's Bank. Limited.
New York
The Bank of
British North America
Established In 1836
Incorporated by Ropal Charter in 1840
Paid-up
Reserve
£1,000.000 Sterling
600.000 Sterling
Fund..............
Capital
Head Office:
6 Gracechurch Street, London, E. O.
New York Office: 52 Wall Street
H. M. J. McMICHAEL. \ Agents.
W. T. OLIVER.
J
ESTABROOK & CO.,
BANKERS,
15 State Street,
BROAD
44
Buy and sell Sterling and Continental Exchange
end Cable Transfers
Grant Commercial and
Travelers’ Credits available In any part A the
world.
Issue Drafts on and make Collections In
all parts of the United States and Canada
Geo.A.Fernald&Co.
Members Boston
BANKERS
Boston.
-
STREET, NEW YORK.
Municipal, Railway
and other
INVESTMENT SECURITIES.
Corporation Bonds
OOYERNMENT, MUNICIPAL AMD
CHOICE RAILROAD BONDS.
Cttttajffltatt gattlizx*.
Stock Exchange
NEW YORK
B08T0N
36 WALL STREET
•T MILK STREET
Canadian Bonds
MUNICIPAL AND CORPORATION
R. L. DAY & CO..
WOOD. GUNDY &CO.
CANADA
TORONTO
85 Congress St,
87 Wall St
BOSTON
NBW YORK
HIGNGR1DE INVESTMENT BONOS
Tucker, Anthony Jb Co.
BANKERS ft BROKERS,
68 STAXB
84 BBOAB SI.,
NBW TOMB
NOB WICM
SI.,
BOSTON
NBW BBDWOB r
Municipal and Railroad
W. GRAHAM BROWNE & CO.
MONTREAL
-
•
Members
Members New Verb and
Boston Stock Exchanges
CANADA
Canadian Bond- Bought, Sold and
Beaten aid Mew Verb Steak
Exchanges.
Appraised
BIGELOW & COMPANY
Rhoades & Company
financial.
BANKERS
46 WALL STREET,
NEW YORK
Light, Power and Street
Railway Enterprises with records
of
established
earnings
HIGH-GRADE BONDS
Electric
State, Municipal and
Railroad
Members New York Stock Exchange; Execute
Commission Orders; Deposits received subject te
WE OFFER
draft.
Letters of Credit and
Bankers and Investment Dealers
Utility Securities
ELECTRIC BOND & SHARE CO.
Travelers’ Checks
Available Throughout
HODENPYL, WALBRID6E & CO*
Noble
Company
High-Grade Bonds
AND
Investment Securities
New York.
SECURITIES.
New York
Light
Telephone 7164 Hanover.
BERTRGN, GRISCOM t JEMS
BANKERS,
Land Title
Bmlidlnc,
PHILADELPHIA,
40 WaU Streets
MEW YORK.
INVESTMENT SECURITIES,
Alfred Mestre & Co.
BANKERS
BANKERS
Railroad, Street Ry., Qu ft Klee.
SECURITIES
the World
HARTFORD—«« Pearl Street
(Paid-Up Capital and Surplus, $4,600,000)
82±CEDAR STREET, NEW YORK
H. W.
T Wall St.
INVESTMENT
49 Well Street
WE FINANCE
Proven Public
BANKERS
DETROIT
NEW YORK
PHILADELPHIA
Members of the New York
Stock Exchange.
Dealers
in Municipal, Railroad and
Equipment Bonds
Interest allowed on Deposits
Subject to Draft
62 Breadway
NSW TOBK
180 8. ICth Bt. 1
PHILADELPHI v
VI
THE CHRONICLE
Sfaufe*** anil
[VOL.
oKtxs ontsiAe IJjew
PITTSBURGH
3fjorr&.
LOUISVILLE.
PORTLAND, ORE
PITTSBURGH SECURITIES J.J. B. HILLIARD
&
SON,
MORRIS BROTHERS
LOUISVILLE, KY.
ROBINSON BROS.,
Members New York and Pit sburgb
Stock Exchanges
PITTSBURGH PA.
BANKERS AND
J. S. & W. S. KUHN
Sec. & Treas
PAID-DP CAPITAL. 0500.000
CHILDS & CHILDS
Members
New York and Pittsburgh stock Exchanges
and caiw—n Board of Trade
INVESTMENT SECURITIES
Union Bank Bail dine
PITTSBURGH, PA.
Taylor & Company
125,000
15,000
415,000
25,000
NEW YORK
-
J. C. WILSON
fNew York Stock Exchange.
Board of Trade.
[Stock and Bond Exchange. S. F.
Private Wire to Chicago and New York.
NASHVILLE.
L.L. M’CleHand.
WE WANT
Pitts. Bess. & Lake Erie Consol. 5s, 1947
Pennsylvania RR. Rollins Stk. 3Hs, 1912
WE OFFER
Southern Traction Co. 5s. 1950
Jamison Coal & Coke Co. 5s, Serial
PHILADELPHIA
THE C H. GEIST CO.
OWNS AND OPERATES
GAS AND ELECTRIC PROPERTIES
[And offers to investors FIRST-CLASS
SECURITIES of this nature
MBMBERj Chicago
Cumberland Telephone & Tel. Co.
8% STOCK
»
AN FRANCISCO
Branch
Correspondents.
Of all the different subsidiary Com*
panies of the AMERICAN TELEPHONE
A TELEGRAPH 00., there are none
better than the CUMBERLAND. This
Company has a quarterly cash dividend
LOS ANGELES.
-
CALIFORNIA BONDS
record of over 25 consecutive years.
For circular and quotations,
address,
CORPORATION
GOULDING MARR
yield
me
Land Title
on
NASHVILLE,
TENN.
-
THOS. PLATER & CO.
Established 1887
Municipal and Corporation Bonds
DEALERS IN
Nashville Chattanooga & St. Louis Ry. Bonds.
Nashville Railway & Light Co. Stock.
Cumberland Telephone & Telegraph Co. Stock.
TO YIELD
AUGUSTA.
Wm. G.
Hopper & Co.,
Philadelphia.
Investments receive oar special attention. In
formation cheerfully furnished
regarding presen
holdings or proposed Investments.
J. W. SPARKS & CO.
Corner Chestnut
and
Third Hta,
Philadelphia
JPHILADELPHIA oTOCK exchan
MEMBERS! NEW YORK STOCK EXCHANGE
1QHICAGO BOARD OF TRADF
E. B. JONES A CO.
BONDS
BONDS
AUGUSTA. GA.
SECURITY
v*»%v>aaaaaa* fstws
L.
-r'W" *%r1rw‘\n/vvx,vv‘>.
NORTON,
Local Stocks and Bonds
86 Madison Ave.
MEMPHIS.
TEWN
NORFOLK, VA.
WWVWVVS
MOTTU
&
LOS ANGELES
WANTED
Bonds
WILLIAM E. BUSH.
AUGUSTA, GA.
BOND HOUSE OF
BARROLL & CO.
H. W. Heilman Bldg.. LOS ANQELES
ir chant s’
Exchange,
Lumbermen's Bldg..
San Francisco.
Portland.
ATLANTA
FIELDING J. 8TIL8ON
SOUTHERN
MUNICIPAL BONDS
INYE8T1SBNT
YIELDING *U% TO 6^%
L08 ANQELES
THE ROBINSON-HUMPHREY CO.
SEATTLE.
ATLANTA, GEORGIA
S. C. OSBORN & CO.
Arctic Club
Bldg.
BROKERS AND FINANCIAL AQENTS.
Stocks. Bonds, Grain, Cotton
and Seattle Business Property.
WE OWN AND OFFER
MUNICIPAL BONDS
Yielding 4M and upwards
HILLYER INVESTMENT GO.
ATLANTA.
.
GEORGIA
.
CO..
SECURITIES,
MEMBER LOS ANGELES STOCK EXOHAND*
Travelers may have orders executed with
the!!
owa
brokers ever
oar
Logan A
to and
wires in 1 to 2 minutes.
Bryan—Correspondents;
members of
all
private wires
leading Exchanges.
BIRMINGHAM ALA.
WM. D. PERKINS & CO.
>11
Otto Marx & Co.
INVESTMENT SECURITIES
CO.
BANKERS AND
BROKERS,
Birmingham Alabama.
STOCKS AND
BONDS.
BONDS
Write ter
Monthly List
Nevada-California Power Co. 6s
and Stock
Denver & Northwestern Ry. 5s
and Stock
State of Colorado Ss
BALTIMORE
COLSTON, BOYCE
^RPORATION
DENVER,.. COL
&
CO..
EsMUbbed 1892.
BALTIMORE
BANKERS AND BROKERS
NORFOLK, VA.
Investment Bonds
Southern Securities
BUILDING
Cherry—Seettl.
MEMPHIS.
INO.
PASADENA
Joseph Ball Company
BROKER
and Stocks
8TOCK AND BOND BROKER8.
88 South Third Street,
Request
on
■3? """ '
John W. Dickey,
Building,
W. Q. HOPPER.
H. S. HOPPER;
Members of Philadelphia Stock
Exchange.
4% TO 6%
Descriptive Circulars
IS ANGELES
Offerings of Southern
PHILADELPHIA
bon
East
Correspondent leuea
LOS ANGELES CAL
SOUTHERN SECURITIES
the Sohject
a higher rate of interest than
itme merit issued in
the
Investment Broker
Properties and Solicit
Correspondence
LOS ANGELES
Coronado Hotel. Coronado Beach.
We purchase
Such
SPECIALTY
SAN FRANCISCO
LOUISVILLE. KY.
Pittsburgh, Pa.
PITTSBURGH
'
A
INVESTMENT SECURITIES
Incorporated
H. P-
PACIFIC COAST SECURITIES
STOCKS AND BONDS
(NO STOCKS*
President
N. Y
JOHN W. & D. S. GREEN
INVESTMENT BONDS
James S. Kahn.
BONDS
Specialty
way.
PHILADELPHIA
Municipal and Corporation
securities
Oorr—pendents: WALKER BROS., 71 B
We Bey and Sell
LTL.AND
BROKERS.
railway
A
ESTABLISHED 1803
of
j
INVESTMENT BONDS.
street
L^XXX.
JAMES N. WRIGHT & CO.
312 CENTURY
BUILDING.
CALVIN BULLOCK
DENVER CITY TRAMWAY
BONDS
Jan. 29
THE CHRONICLE
1910.]
TO
Hantttvs and gtoUcKS outside geto goefe.
ST
LOUIS.
Lee Benoist & Co.
A. e. EDWARDS A SONS.
BANK OF COMMERCE BUILDING
1 WALL ST.
In 8t. Louis,
ST. LOUIS
Mo., at 412 Olive St.
i
CORPORATION AND COLLATERAL LOANS NEGOTIATED
AND A
GENERAL FINANCIAL
SACRAMENTO VALLEY
IRRIGATION CO. 6s
BUSINESS TRANSACTED
SCRANTON.
CINCINNATI.
GUARANTEED
Specialize in Securities ot
MUNICIPAL BONDS
due 1910 to 1920
New River
Chicago Subway
Scranton Railway
Scranton Electric
Spring Brook Water
Pa. Cent. Brewing
Pa. Coal ft Coke
Scranton Qas ft Water
Northern Electric
New Mexico Ry. ft Coal Paint Creek Collieries
W. B. ft Wyo. V. Trac.
Ucka. ft W. V. R. T.
Temple Iron
Klete Thro wine
(I. 8. Lumber
&
BROOKS
CO.,
BANKERS
To net
WEIL, ROTH & CO.
CINCINNATI, OHIO.
TheShort,Stanton,WorthingtonCo.
(Successor to Short, Stanton ft Oo.)
Sec. Nat. Bank Bldg.,
WILKES-BAR RE,,PA.
Spruce St.,
SCRANTON, PA.
Correspondents: EDWARD B. SMITH ft CO.,
ST Pine St.. New York City,
BONBEIGHT ft HIBBARD
100 Powers
BOUGHT AND SOLD
Union Trust
Special Attention to St. Louis Secuzitios
£533 1st Nat Bk. Big.,
Bldg.,
CHICAGO
CINCINNATI
DEALER IN
-
...
Rochester Stock Exchange.
Hayden, Miller & Co
Mehta.-Laclede Bldg.,
ST. LOUIS
Investment Bonds
BUFFALO.
Clttxene Building.
O LEVEL AN D. ©.
JOHN T. STEELE
Y.
Eugene M. Stevens & Co,
SPECIALISTS IN
BONDS
Securities
PROVIDENCE.
ALBERT P. MILLER Jr
INDUS1R1AL TRUST CO BUILDING
PROVIDENCE. R. I.
Gas, Electric Lighting & Railway
Bonds and Stocks
BODELL & CO.
806 BANIGAN
MINNEAPOLIS—ST. PAUL
WELLS &
City Ry. & Light Issues,
Western Municipals
Local Securities.
WINN.
Minneapolis Oas Light Co. 5s and 6a.
Twin City Rapid
Preferred Stocks
of Proven Value.
Transit System Bonds.
CHICAGO.
jvi/^vi^vwvMVirvvvvvvwuvNirir>fvyvvvvY*iivvY‘<^>r*,‘iv****1— —1---i*—-i--
A. O.
SAINT PAUL
& Co..
er
BANKERS Sc BROKERS,
139 ntONROE STREET,
Twin City Rapid Trans. 6s, 1928
Minnesota Transfer Ry. 5s, 1916
St. Paul Gas Light Go. 5s, 1944
CHICAGO. ILL.
members t
Sctwia ZVAtte
State
McCRUM
H.
Kansas
DICKEY CO.
MINNEAPOLIS.
W.
INVESTMENT OO.
KANSAS CITY, MO.
M. St. P. ft S. Ste. Marie 4a
Duluth MIssabe ft Northern 5a
South Dakota Central 5a
Minnesota ft Ontario Power fa
BLDG., PBOVH3IH01
Bonds and
j
rrr
KANSAS CITY, MO.
MUNICIPAL ft CORPORATION BONUS
Local Securities
CHICAGO
CIRCULARS;AND LIST ON APPLICATION
Municipal
and Corporation Bonds
Buffalo and Western New York
205 LaSallelSt.;
DEALT IN
MINNEAPOUS.
Government
Oo.
MUNICIPAL
and other
HIGH-CLASS BONDS
Dally Lists Mailed on Application.
BUFFALO. N
ST. LOUIS
-
R. Compton
William
Chicago Board of Trade.
SPECIALISTS ROCHESTER SECURITIES
300 N. FOURTH ST.,
OHIO
CLEVELAND.
5 New York Stock Exekange.
PRIVATE
WIRES MTO
PRINCIPAL MARKETS
Cincinnati Securities
CfWnWNATl.
Building.
Investment Securities
Municipal and Corporation Bonds
EDGAR FRIEDLANDER
ROCHESTER. N Y
jwuwunnnnnrrinnnrr—
WHITAKER & CO.,
HIGH-GRADE
MEMBERS NEW TORE STOCK EXCHANGE,
423
PBIOE, PAR AND INTEREST
4%
Tax-free throughout the U. S.
over
«
New
New
New
New
St.
York 8tock Exchange,
York Cotton Exchange,
York Coiiee Exchange.
York Prodnee Exekange.
Lent* merchants Exekange
Saving* Rank Bldg., St, Paul
A. G. Becker &
NEW ORLEANS.
Co.,
(XXOO&PO£LATXDw)
LEWIS H. STANTON ft CO. COMMERCIAL
INDIANAPOLIS.
Joseph T. Elliott & Sons.
Investment Securities
Members Indianapolis Stock
Nat. Bank Bldg.
STOCKS AND BONDS
NEW
ORLEANS,
PROVIDENCE.
LA.
NEWTON TODD
I WILL BUY AND SELL
INDIANA TRACTION SECURITIES
•letches' Bank Bldg.,
INDIANAPOLIS
Richardson & Clark
NEW JERSEY.
EDWIN R.
8, W. Cor. Monroe ft La Salle Sta., Chicago.
Exchange
INDIANAPOLIS
NEW JERSEY
CASE,
SECURITIES,
No better State
No better Securities
15 EXCHANGE PLACE
Tils, see and T#1
JERSEY CITY
PAPER,
25
Exchange Street, Providence,
ft. I.
Bonds, Stocks and Local Securities.
Private wires to Boston,
and New York.
Philadelphia
vm
THE CHRONICLE
enxvmt
[VOL.
LXXXX.
Sj£uqnixU*.
Mobile & Ohio, St. Louis & Cairo coll. 4s, 1931
Fonda Johnstown & Gloversville 4>£s, 1952
HIGH GRADE
Maryland Delaware & Virginia 5s, 1955
Pittsburgh Shawmut & Northern 5s & 4s
INVESTMENT SECURITIES
Toledo Terminal Railroad 4J^s, 1957
Mason City & Fort Dodge 4s, 1955
List
Aroostook Valley 4J^s, 1929
Pere Marquette 4s, all issues
Duluth Short Line 5s, 1916
Gulf & Ship Island 5s, 1952
Texas Central 5s, 1923
on
Request
«. W. Walker & Co.
BANKERS
Telephone
26 Bleed St.l
100-101 Broad
New York
Bangor & Aroostook 4s
AND ALL OTHER STEAM RAILROAD SECURITIES DEALT IN
F.
J. USMAN & COMPANY,
SPECIALISTS IN STEAM RAILROAD SECURITIES
Members N. Y. Stock Exchange
30
BROAD
STREET,
NEW YORK
Land Title & Trust Go. Building, PHILADELPHIA
State Savings Bank
Kings County Electric Light
& Power Co.
Subscription Warrants
6% Convertible Debentures
(When^issued)
SUTRO BROS. & CO
Building, HARTFORD
BANKERS
44 PINE STREET, NEW YORK
Holders of Hocking Goal & Iron 6s
are requested to send their names and
amount of
55 Cedar Afreet
Telephone 1000 John
holdings to
A. A. LISMAN &
Tel. 6950'Broad
CO.,
25 Broad St., New York
Central Pacific Guar. 3J^s
New Haven Convertible 3*^s
Central of
Central
PROCTER
.
jgQUITABLE
Georgia Cons. 5s
Branch, Missouri Pacific 4s
BORDEN Houston & Texas Central 4s, 5s & 6s
Manhattan Ry. Cons. 4s, unstamped
BUILDING. NEW YORK
Western N. Y. & Pennsylvania 4s
&
N. Y.
Lexing. Ave. & Pavonia Ferry
Mil. Lake Sh. & West 1st 6s
FERRIS & WHITE,
Chisholm St Chapman
Member* at tha Naw Tark Stack Exchange
37 Wall St.. New York
18 Wall
75 State Street
& CO.
■RPIRE BUILDING. ATLANTA. QA.
Betten.
Mason City & Ft. Dodge 4s, 1955
Wise. Minn. & Pacific 4s, 1950
Duluth Rainy Lake & W. 5s, 1916
Canton-Mas. El. Ry. 1st 5s, 1920
100 Shares Georgia RR. & Bankg. Go.
100 Shares Southwestern RR. Go.
100 Shares Augusta & Sav. RR. Go.
BECKED & CO.
HEW YORK
BOSTON
34 Pin. Street
50 Slat. StrMt
INVESTMENT BONDS
-OF-
CJ IN QUESTIONA BLE
SECURITY
Netting from 4^% to 6%.
Williamsport Gas Co. 1st 5s
Allentown Gas Co. 1st 6s
N. T. Suburban Gas Go. 1st 5s
Toledo Elec. St. Ry. 1st 5s, 1912
75
800
200
100
50
50
FOR SALE
American Chicle Common
Heany (The) Co. Common
Heany (The) Co. Preferred
Maxwell-Briscoe Preferred
Producers Oil
Texas (The) Co.
FREDERIC H. HATCH & CO.
Telephones, 2640-2641-2642 Fort Hill
Private telephones between New York and Boston
)ort A Cincinnati Bridge 4^8
HI. Gen. St. Louis div. 3H*
Montana Central 5s
Morris A Essex 7s, 1915
Cincinnati Lebanon A Northern 4s
BLAKE a REEVES
Tel. 1564 John
34 Pine Street View Yesfc
WE OFFER
FOSTER a ADAMS
Member*
N. Y. Sleek Exekaaga
1 WALL STREET.
NEW YORK CITY
AYLINC
A
BOSTON
Railroad and Public
Bonds
Utility
Pingree, McKinney & Co.
8
Congress Street,
Boston
Liberty National Bank
Requests for information either by personal interviews or cor¬
respondence will be gladly received and attended to
promptly.
Penna. Steel Co. 1st 5s
Private Wire
Telephone 1346 John
WE OWN AND OFFER
PHILADELPHIA
Lehigh Valley of N. T. 1st 4}^s
City of Minneapolis 4s, 1917
Bangor & Aroos. 1st 5s, 1943
15 Wall SI.. New Tork
BAKER
<
WANT
Missouri Kansas & Texas of Texas
New Haven Deb. 4s, 1956
5s, 1942
Col. New. & Zanesv. 1st 5s, 1924
A first mortgage Main Line Bend
to yield 4.65%
Cicmlar on Application
BURGESS, LANG & CO.
WE WANT TO BUY
Wabash Equipment 5s
Republic of Cuba Internal 5s
New Orleans Terminal 4s
QUa Valley Globe & Northern 5s
Southern Pacific 4s
Central Pacific 4s
J. H
Street,
New York.
following
GUARANTEED STOCKS
H. 955 Heeler
PHILADELPHIA
Ohic. 6 Western Indiana 4s, due 1962 Dealers in Unlisted and Inactve Securities of
Railroads and Other Corporations
Macon Dublin & Savan. 1st 5s, doe 1947
in the United States and Elsewhere.
Det. Gr. Rap. A West. 1st 4s, due 1946
30 BROAD STREET, NEW TORK
Flint A Pere Marquette 1st 6s, due 1939
Tel. 5140 to 6165 Broad, Inclusive
Atlantic A Danville 1st 4s, due 1948
Branch Office. 50 CONGRESS ST.. BOSTON
Dubuque Div. 1st 6s
J. H. HILSMAN
400 Chestnut Street
Susq. & West. Term. 5s
Chicago & Erie 1st 5s, due 1982
Rio Grande & Western 1st
4s, due 1939
Duluth & Iron Range 1st 5s, due 1937
We Own and Offer the
Robt.Glendinning&Co.
WE HAVE FOR SALE
1st 5s, due 1993
Tel. 6327-8 Hanover
Member* Naw York Sleek Exchange
LIBBEY&STRUTHERS
COMPANY
PROVIDENCE
ELMIRA
Coal A Iron National Bank
Royal Baking Powder Preferred
DEALT IN BT
LUTZ
a COMPANY
Bank A Trust Company Stocks
25 Broad St., N. T.
Tel. 273 Bread
Jan. 29
gixjqp&tetejs.
Gnxxtnt gaud
Ool. Spgs.
IX
THE CHRONICLE
1910.]
& Grip. Or. Dist. 6s,
1942
Chicago & West. Ind. 4s, 1952
Inter-Cont. Rubber Go. Common
Liberty National Bank
Kansas City & Pac. 4s, 1990
Oons.Water Oo.of Utica, deb. 5s, 1930
Jones & Laughlin 1st 5s, 1939
Wells Fargo Express Go. Rights
OMAHA GAS COMPANY
Due
August 13, 1917
The company is
The Omaha Gas Co. serves the cities of Omaha and South Omaha.
controlled and operated by the United Gas Improvement Co.
There are 12.500.000
of these bonds authorized, $2,200,000 outstanding and $300,000 reserved to retire the
only prior lien. We are advised that for the year 1909 the net earnings are more than
double the amount necessary to pay the interest on these bonds.
We offer subject to
prior sale, a limited amount to net about 5.30%.
.
<■
Traction, Industrial and Power Co. Bonds and
Gude9 Winmill A Co.
Stocks Bought and Sold
PFAELZER & CO.
BANKERS
20 BROAD STREET,
Telephone 445-6-7 Rector '
Mortgage Gold 5s
1st Cons.
V. T.
25 BROAD ST.
Tel. 1510 Broad
N. V
U. S. Rubber Ool. Tr. 6s, 1918
Rio Or. & So. Unguaranteed
Wabash RR. 2d 5s, 1939
INDEX OF VALUE
4s, 1940
The worth of
Lehigh Valley Oen. 4s, 2003
Long Island Unified 4s, 1949
Reading-Jersey Gent. Ool.Tr.4s, 1951
NEWBORG & CO.,
MBMBBRS N. T. STOCK EXCHANGE
49 BROADWAY. N. Y.
Telephone 4IN Rector.
Coble Address,
••NEWROSB”
property is measured by the revenue
it can produce.
Earnings Indicate Value
by mortgage on revenue-producing, property,
ample margin, constitute desirable investments, possessing safety of
principal and interest.
Send for Circular V-7, giving a list of bonds secured by mortgage
on property yielding revenue well in excess of interest requirements.
Bonds secured
with
both
PRIYATE WIRE TO ST. LOUIS
Guaranty Trust Company
WE OFFER
OF NEW
BUTTE ELECTRIC & POWER CO.
Common Stock
Price and
28 Nassau
511
Street, New York
Fiftk Ave., New York
Descriptive Circular on Application
YORK
33 Lombard Street,London, E C.
WE OFFER
Albany & Susquehanna 3J4s
Brooklyn Union Elevated 5s
BANKERS
Broadway & Seventh Ave. Consolidated 5s, 1943
Street
NEW YORK
Chicago & North West. 334s, 1987
MEGARGEL & CO.
6 Nassau
Erie General 4s
Pennsylvania Convertible 334s, 1912 and 1915
Wabash, Toledo & Chicago 4s
Albany & Susquehanna 3J^s, 1946
Buffalo & Susquehanna 4s, 1951
Peoria & East. Income 4s, 1990
Leh.& Wilkes-Barre 434s, J’ne/lO
Amer. Tel. & Tel. Conv. 1936
Western Pacific 5s, 1933
New York City 4s, 1959
Colorado Southern 4J4s, 1935
Missouri Kansas & Texas Extended 5s
LEO SPEYER
Member N. T. Stock Exchange
OFFICE AT
ARTHUR L1PPER & GO.
Burl.Ced.R.& Nor.Cons.5s, 1934
20 BROAD STREET. NEW YORK
Cent.RR.&Bkg.Co.of Ga. 5s, 1937
EYER & COMPANY
Tel. 7T*e 1-1-3 Hanover
IT Wall Street
NEW YORK
United N. J. RR. & C. 3 Ms. due 1951
Morris & Essex SHs. due 2000
N. Y. Susa. & West. 5s. due 1937
Port Reading 4s, due 1941
Eastern Steel 1st Ss, 1931
M Mm St.. N.
Y. City
Wabash—Det. & Chic. 5s, 1941
Ill. Cent. Tract. 5s, 1933
dnn. Gas Transportation 1st 5s, 1933
York Haven Wat.& Pow.lst 5s, 1951
N. Y. & Pa. Tel. & Tel. 4s & 5s
]o$«pb Ulalker& Sons
Members New York Stock Exchange.
Broad St.
New York.
Private wire to Philadelphia
20
Coffin &
1924
Norwich(N.Y.) Gas A El. 1st 5s, 1931
Roch. Syr. A East. RR. 1st 5s, 1945
Gol. New. A Zanesv. 1st 5s,
OILMAN & CLUCAS
TAX-EXEMPT GUARANTEED STOCKS.
HIGH-GRADE PREFERRED RR. STOCKS.
Holdin
Paper Co. 1st 5s, 1919
S. R. TAYLOR
Tot. 7S05 Hanover
49 WALL ST.. N. Y.
LEONARD SNIDER
at Broadway
New York
Title Building.
Philadelphia.
We Own and Offer
CONNECTICUT BY. A LIGHTING
1st & Refit's & Sinking Fund 4Ms.
1951 (Stamped)
Guaranteed by the N. Y. N. H. & Hartford
RR. Co. and the United Gas Improvment Co.
•
Edward V. Kane & Go.
North American Building.
PHILADELPHIA
Members Philadelphia Stock Exchange
'Phones Bell-Walnut 2290.
Keystone-Race 499
Hudson & Manhattan 434s
Pere Marquette Debenture
6s, 1912
Chesapeake & Ohio—Potts Creek and Coal River 4s
Nashville Florence & Sheffield 5s
MEW TOBK.
OFFER
Union Pacific Ref. 4s
South Carolina & Georgia 5s
G. B. A Q. ,U1.3Ks, Reg. and Coupon
Missouri Pacific, Central Branch 4s
WANT
WestYFirginia A Pittsburgh 4s
Omaha Oons. 6s
mater A Delaware 5s
FOE SALE
Tel*. IHM4 J.kn
Rock Island Choctaw 4s, due 1913
Rock Island Choctaw 4s. due 1914
Jersey Central General 5s, due 1987
Wabash RR. First 5s. due 1939
Vandalla RR. Series “B" 4s, due 1957
Western Maryland First 4s, due 1952
Manitoba Consol. 6s, due 1933
St.iPaull&JDuluth 2nd 5s
Southwestern Goal A Impt. 6s, 1929
Oanton-NeW Phila. By. 1st 5s, 1923
^:
Silver Springs Ocala & Gulf 4s
Cincinnati Hamilton & Dayton 4s & 4J4s
St. Louis & San Francisco 434 & 5% Notes
Helena Light & Railway 5s
Fonda Johnstown & Gloversville 434s
WERNER BROS. & GOLDSCHMIDT
T.L 4800-1-2-3-4-5 Broad.
25 Broad Street, N. Y.
X
THE CHRONICLE
ffiutrcetxt
Wanted
100
60
100
60
26
100
100
American
Manufacturing
Albany Trust Go.
National Surety Co.
Westch. A Bronx Mtge. Guar.
Columbian Nat. Life Ins.
City Investing Common
Childs Common
60 du Pont Powder Common
10M So. Indiana 4s, 1951
6 Morton Trust
35 American Goal Products
25 Importers' A Traders' Bank
10 Celluloid Co.
[VOL.
%nxpxivlts.
WANTED
County, Colo., 4s
For Sale
50
Lake
Utah Lt. & Pow. Co. 4s & 5s
Peoria Water Co. 4s
Albion (N. Y.) Water Co. 6s
Houston (Tex.) Water Wks. Co. 6s
New Hampshire El. Ry. Stocks
Chemung Canal Trust
120 Nat. Light, Heat A Pow. Com.
120 Union Typewriter Common
1000 U. S. Light & Htg. Common
250 Amer. Thread Preferred
100 Niles-Bement-Pond Com. & Pref.
10M Amer. Book 6s, 1928
10M Am. Type Fdrs. Deb. 6s, 1939
Kalispel Water & Elec. 5s
100 Lawyers’ Title Ins. A Trust
50 Int. Time Recording Pref.
100
Leadville (Col.) Water Co. 4s
Omaha Water Co. Stocks
Utah Light & Rwy. 5s
Knoxville Water Co. 4j^s & 6s
City A Suburban Homes
Common
100 Pope Manufacturing
75 Lackawanna Steel
Hallowell &
Henry
52 Beaver
TeL 4996-7-8 Broad
LXXXX.
H. C. Spiller A Co.
Street, New York
Specialists In Inactive Bonds
Vt State Street
FOR SALE
International Nickel Common
Amer.
Phelps, Dodge & Co.
Amer. Brake Shoe A Foundry Pref.
Astor Trust Company
FRANK R. ALLEN
Light A Traction Co. Stocks
Tel. 6775-6 Broad.
Ga. Ry. A Elect. 5s,|1932 A 1949
Missouri Pacific 2d 5s, 1938
Lex. Ave. A Pav. Ferry 6s, 1993
Det. Gr. Rap. A West. 1st 4s, 1946
State of So. Car., No. Car., Ga.,
Ala.,
Tennessee Bonds
WOLFF,
SuMe Add. **MOWOLF" 27 William at.. V. T.
Phones 6557-6658-6559 Bread
^
Pawtucket Gas 6s
Hudson River Elec. Power 5s
Tri-City Railway A Light Co. Stocks
Telephones 4499-5486 Broad
M.
WE WILL BUY
Pacific Gas A Electric Co. Common
Amer. Gas A Electric Co. Stocks
LAMARCHE & COADY,
INACTIVE SECURITIES
STREET. NEW YORK
30 BROAD
Johnstown Passenger Ry. Co. Refunding 4s. due
,1931. Free of tax in Pennsylvania
Chattanooga Ry. & Light Co. First and.Refunding
0s. due 1956
St. Clair County Gas & Electric Co. Consolidated
k Guaranteed 5s. due 1959
WURTS, DULLES A CO.
1M S. FOUR! H
25 Broad
St.. N. T.
Lexington Ave. A Pav.Ferry 5s, 1993
Columbus A 9th Ave. 6s, 1993
Metropolitan St. Ry. Gen. 6s, 1997
Second Ave. Cons. 5s, 1948
Third Ave. 1st 6s, 1937
Eings Go. Elect. Lt. A Pow. 5s A
PATERSON & CO.,
Tel. 1980-6-7 Rector
80 Broad
6s
St.. N. Y
K Atchison Short Line 4s, 1958
Central of Ga., Ohatt. Div. 4s, 1951
N. Y. Central Lines Equip. 5s
Railway Equipment Issues
FREEMAN 4bCOMPANY
84 PINE STREET. NEW YORK
Telephone 5069 John
ST..
PHILADELPHIA
Telephone Lombard 1060-1061
Kalispel Water & Elec. 5s
Peoria Water Works Con. 5s
Hudson River Water Power 5s
Superior Water. Light & Power Incomes
Atlantic Birm. & Atlanta 5s
N. E. Investment Sec's Pref.
Pere Marquette Com. & Pref.
American Glue Com.
Regal Shoe Pref.
Whitman & Barnes Mfg. Co.
U. S. Finishing Com. & Pref.
Union Twist Drill Com. & Pref.
Kirby Lumber Com. &J>ref.
Boston Securities
Inactive Securities a Specialty
HOTCHKIN & CO.
STOCK EXCHANOE BLDQ.. BOSTON
Telephone 5448 Main.
Central Vermont 4s, 1920
Lansing Fuel A Gas 5s, 1921
Canton (O.) Electric 6s, 1937
Duluth Edison Co. Preferred Stock
Detroit City Gas General 5s
H. L. NASON a CO.
WESTERN
Union
Railway, Gas A Electric
Portland Railway, Light A Power
Memphis Street Railway
ALL LOUISVILLE LOCAL SECURITIES
S. C. HENNING & CO.
116 So. 5th St.,
iOUISVILLE. KY.
71 Broadway.
NEW YORK CITY
WANT
St. Jos.
Ry.,Lt.,Ht.A P.Oo.lst 5s,*37
Pongh.Lt., Ht.A P. Co. 1st 5s, 1921
Newb. Lt. ,Ht. A P. Co. 1st 6s, 1921
Ga. Oar. A Northern 1st 5s, 1929
Sutton,
Strother & Co.,
Calvert
Streets
and German
CURTIS 4b SANCER
C. H. A D. All Bonds
Pere Marquette Refunding 4s
Ohes. A Ohio Coal River 4s
Denv. A Rio Grande Improvement 5s
TRADED IN BY
MILTON WEBER
0 BROAD STREET
BALTIMORE
Members of Baltimore Stock Exchange
DEALER IN
-
Railroad and Other
Investment Bonds
BUFFALO, ROCHESTER AND
K. B
WADE
Tel. 6744 Hanover
49 Wall Street
R. T. Wilson &
Co;
Bankers A Commission Merchants
33 WALL STREET
-
-
NEW YORK
American Power & Light
Oklahoma Gas & Electric
San Diego Cons.Gas & Electric
Arizona Power Co.
WIllUM P. BOKBRIGBT l CO
Memben ot New York Stock
Exchange,
*« BROAD
STREET. NEW YORK
Colorado Springs, Col.
14 Qoorgo St., Mansion House, London, B, C.
CHICAOO—Richard Fits (braid, 1st Nat. Bank
Bldg.
BOSTON—R. A. A B. L. Manning, 85 Congress St.
PHILADELPHIA—M. W. Stroud Jr. Lafayctts
Bldg.
National Shawmut Bank Building,
Boston, Mass.
Paris Water 3s
Arnold Print Work 6s
Twin State Gas A Electric 4J^s
Empire Coke A Interurban Gas 5s
Colo. Sprgs. A Electric Power 5s
Guanaj. Red. A Mines 6s with stock
Atl. Birm. A Atlantic Equipment 58
F.W. MASON & CO.
WANTED
Haverstraw (N.Y.) Water 5s, 1952
Butte Water 5s, 1921
Clinton (Iowa) Water 5s, 1931
FOR SALE
100 Butte Electric Power Oommmon
C. H. FARNHAM
SYRACUSE SECURITIES
MALCOLM
60
C
BANKERS
TELEPHONE A TELE¬
GRAPH 00.
6% Two-Year Notes Due 1912
Members N.Y., Boston & Chicago Stock Exchanges
38 Wall Street
Boston
NEW YORK
Chicago
STUART
Broadway,
Telephene,
NEW YORK
156 Rector.
87 STATE
HEAT & POWER CO.. LTD.
COMMON STOCK AND BONDS
WARREN, GZOWSKI & CO.
Members
Toronto Stock Exchange
TORONTO
NEW YORK
4 Col borne St.
25 Broad St.
Offices Connected by Direct Wire.
Harrisburg Gas Co. First 5s. 1928
Indianapolis Northern Tract. 5s, 1932
Buffalo & Lake Erie Tract. 5s, 1936
Auburn Light, Heat & Power 5s, 1929
STREET. BOSTON
Am. Tel. A Tel. Conv. 4s, March 1930
Am. Tel. A Tel. Coll. Tr. 4s,
July 1920
N. Y.
QUEBEC RAILWAY, LIGHT,
Boston
Telephone 4^s, November 1000
GEORGE L. WARE
Tel. 964 Main
53 State St.. BOSTON
Del. A Hudson Refunding 4s, 1943
Chic. R. I. A Pac. General 4s, 1988
Iron Mtn., River A Gulf Div.
4s, 1933
Chic. A North West. Gen.
3^8,1989
GILBERT ELIOTT & CO.
Tel. Jehn 655
NEW YORK
34 PINE STREET
SAMUEL K. PHILLIPS & CO.
421 Chestnut St
Philadelphia
Buff. A L. Erie Tract. 5s A stocks
Roch. Syr. A Eastern 5s, 1945
Syracuse Lt. A Power 5s, 1954
Topeka Edison 5s, 1930
WM. M. CLARKE
T«l. 1016-10-17 Rector
110 Broad St.. N. Y.
WANTED
Morris & Essex R. R. 7s,
due 1915
W. E. R. SMITH & C0.f
10 Broad Street
-
-
Now York
Jan. 29
THE CHRONICLE
1910.]
[htsmcial.
fgiDumcial.
ESTABLISHED 1856.
WANTED
100
100
200
50
50
100
50
25
60
XI
.
,
„
„
_
Shoe Com.
American Coal Products
Buff. & Lake Erie Tract. Com. & Pfd.
Cons. Car Htg. of Albany
American Brake
National Discount
.
Del. Lack. & West. Coal
35 CORNHILL,
Hartford Carpet Com;
Kings County Electric Light & Power
securities and
respectfully Invite Inquiries.
J. K. Rice, Jr. & Co.
33 WALL STREET. N. Y»
NATDIS
Telegraphic Address:
Phelps, Dodge & Co.
Wells-Fargo "Rights”
FOR SALE
60 American Brake Shoe Pfd.
5 American Express
500 Chicago Terminal Transfer Pfd.
100 General Chemical Com.
75 General Motors Pfd.
35 International Time Recording Pfd.
200 Standard Oil Cloth Com. & Pfd.
50 Union Gas & Electric of Cincinnati
27 United States Express
19 Wells-Fargo New Stock
We have good markets In unlisted and inactive
Company, Limited,
LONDON, ENGLAND.
LONDON.
SUBSCRIBED CAPITAL, $21,166,625
Paid-up Capital,
in
.
.
.
.
.
Reserve Fund,
.
.
.
.
.
$4,233,325
.
.
169,333 shares of $125 each, of which 925 has been paid up.
Number of proprietors, 3,402.
2,150,000
.
.
.
DIRECTORS.
Edmund Theodore Dozat, Chairman.
W. Murray Guthrie, Deputy Chairman.
Lawrence Edlmann Chalmers,
Frederick William Green,
Frederick Leverton Harris,
Charles David
Phones 7460 to 7466 Hanover
Walter James Heriot,
Sigismund Ferdinand Mendl,
John Francis Ogilvy,
8eligman.
Manager.
PHILIP HAROLD WADE.
Secretary,
CHARLES WOOLLEY.
Joint Sub-Managers.
WATKIN W. WILLIAMS. FRANCIS GOLDSCHMIDT.
Bankers
BANK
A. B. Leach & Co.,
BANKERS.
149
BALANCE SHEET, 31st DECEMBER 1909.
St.. CHICAGO
"
"
"
28 State
St., BOSTON
"
"
Chestnut Ac 4th
"
11,622.749
Securities—British and
Indian Government,
London Corporatlon Bonds and
Trustees' Securities -99,588,899
City of
Capital paid-up, viz.:
925 per share
Reserve Fund.
Deposits and Sundry
Balances.
Bills Re-dlscounted
Rebate
94,233,326
2,150,000
71,402,810
20,803,959
703,149
Amount at Credit of
Profit and Loss Ac-
303,771
count
St., PHILADELPHIA
Cr
95ao£l Sterling.
By Cash at Bankers—...
Fo Subscribed Capital...921 ,166,625
viz., 169,333 shares =
of 3125 each.
"
140 Dearborn
ENGLAND.
THE UNION OF LONDON AND SMITHS BANK. LIMITED.
Dr.
Broadway9 NEW YORK
OF
“
Other Securities, lnclud-
lng short-dated Colonlal Bonds
”
”
“
“
2,154,920
11,743,819
Loans at call, short and
fixed dates.
Bins Discounted
Interest due on Invest¬
ments and Loans, and
6.563,840
77,937,088
1,229,515
500,000
Sundry Balances
Freehold Premises
999,597,014
599,597,014
Profit and Loss Account for the Half-Tear ending 31st December, 1909.
MUNICIPAL
(
RAILROAD
CORPORATION
4%
\
to
( 6%
Dr.
BONDS
Remuneration,
charges
"
**
due, carried
to
Bills
New
703,149
Aocount
"Six Months’ Dividend at the
rate of Ten per Cent per
Application
Lawrence Barnum & Co.
1
annum .free of Income Tax 3211,666
'! Balance carried forward to
next account
92,105 303,771
BANKERS.
Jl.115.697
31,115,697
27-29 PINE STREET, NBW
TORE
Pittsburgh
Washington
Dw
•50,000 St. Louis City 4s
,__^_1928
25,000 St. Joseph. Mo., School 4a
..1928
25.000 United Rys. (St. Louis) Gen. 4a
1934
25.000
25,000
26,000
26,000
358,777
50,000
_.
Reserve Fund
Rebate of Interest on
not
Philadelphia
“
Salaries,
Alton-Granlte & St. L. Traction Ss.1944
Miss. Glass Co. (St. L.) First 6s....1924
Gaston County, N. C., 4s
1938
_
St. Louis Transit 5s
1924
MorrisWorth,
First 4Ks
1939
65,000
A Co. Texas.
0,000 Fort
School 4 34s....1949
15,000 Alton Railway & Elect. 5s_...
10 000 California Gas & Elect. 5s._
50,000 Hue king Realty 6s
50,000 Frisco General Lien 5s
10,000 Frisco Equip 5s
..1939
1937
On behalf of the Board,
EDMUND T. DOXAT, Chairman.
£3
SJF. MENDL.
We report that we have obtained all the information and explanations which we’have required.
We have examined the Securities representing Investments of the Company, those held against
Loans at call, short and fixed dates, and all Bills discounted in hand.
We have also proved the
Cash Balances, and verified the Securities and Bills In the hands of Depositors.
In our opinion the
Balance Sheet Is proper’y drawn up so as to exhibit a true and correct view of the state of the Com-
Eanv’s
to the best
of ourthat
Information,
andstate
the explanations
to us, and and
as shown
y the affairs
Books according
of the Company,
except
It does not
the amount given
of Investments
Bills
placed as security against Deposits.
J. GURNEY
FOWLER. F.C.A.,\A«dttor*.
FRANCIS W. PIXLEY, F.C.A.,/
Approved Mercantile Bills Discounted.
Loans granted upon Negotiable Securities.
Money
received on Deposit at call and short notice and Interest allowed at the current market rates and
for longer periods upon specially agreed terms
35 CORNHILL,
6th January, 1910.
1918-24
1927
1913-19
(Guar, by American Car 4b Foundry Co.)
FRANCIS, BRO. & CO.
(Established 19TT)
R. H. GOODELL & CO.,
D. ARTHUR BOWMAN
Third Nat. Bank
Bldg.
(22 Monroe
ST. LOUIS, M0
214 North 4th Street, ST. LOUIS
Brokers
TO INVESTORS
I
Cr.
June 1909
390.106
Gross Profits during the half-year.. 1,025,591
Income tax, and all other
Selected for Conservative Investors.
Lists Mailed Upon
$5sq£l Sterling.
By Balance brought forward from 30 th
To Current expenses. Including
Directors’ and Auditors’
Denver & North Western 5s & Stock
Denver Tramway Sinking Fund, 1933. 6s
Denver Con. Tramway, 1933, 5s
Denver Tramway, 1919, 5s
Denver Gas & Elec. 5s
Denver Gas Stock
Denver Union Water Securities
Colo. Telephone Co. Stock
U. S. Red. &. Ref. 6s
Nevada-Calif. Power Co. Securities
W. C. PACKARD
414 Cooper Bldg..
We offer
an
in
Street, Chicago.
high-grade
unlisted and inactive
corporation securities of Central and Western
United States and Canada.
Circular of "Securi¬
ties Wanted and For Sale” sent on request.
excellent selection of
Altoona Gas 5s
High-Grade Municipal Bonds.
Paying 3%% to 4V»%.
SEND TO-DAY FOR OUR LIST.
Susq. Blooms. & Berwick|6s
City of Pittsburgh 4s and 6s
Penna. Borough 4s netting 4%
Qeorge B. Atlee & Co.
'
DENVER. COLO
119 8.4th
St.,
PHILADELPHIA
Members Phlla. Stock Exchange
Equipment Bonds and Car Trusts
Swartwout &
Appenzcllar
BANKERS
C. B. Van Nostrand Central Union Telephone
Stock
36 WALL STRUT
CLIFFORD ARRICK
Members N. Y. Stock Exchange
44 Pine Street
NEW YORK CITY
INDUSTRIALS
tT Talbott Bldi.i
•/
INDIANAPOLIS
XU
THE CHRONICLE
[VOL.
LXXXX.
gtuattcial.
fPtxatxjcial.
Nederlandsch Administrate- & Trustkantoor
NATIONAL BANK
OF CUBA
(NETHERLANDS ADMINISTRATION & TRUST COMPANY
215 Slngel - AMSTERDAM. (Holland.)
H. MEINbSZ, Prcid-.t
Undivided Profits
Board of Directors*
■
Deposits-
H. WALLER. L. D..
Chairman,
de Hock A Uyt den Bogaard.
A. A. H. BOISSEVAIN.
Ph. MEES.
Director of Swiss Bankverein and
R. Mees A Zoonen.
of Labouchere Oyens A Co’s Bank.
J. A. DUYNSTEE.
H. MEINESZ,
Telders A Go.
as
Executor,
Trustee of
as
•
-
16,000,000 00
6,200,000 00
-
-
•
Branches
S« GALIANO ST.. HAVANA.
226 MONTE ST.. HAVANA.
GARDEN AS,
MATANZAS.
OXENFUEGOS.
MANZANILLO,
GUANTANAMO.
SANTA CLARA,
Scheurleer A Zoonen.
Administrator, Trustee,
-
$6,000,000 00
-
HEAD OFFICE—HAVANA
G. H. DE MAREZ OYENS,
Labouchere Oyens ds Co's Bank.
A. L. G. H. PICHOT.
Westerwoudt A Co.
W. M. SCHEURLEER.
Arnold GiUssen.
AUG. KALFP.
Jan Kalff A Co
-
dash in Vaults
President.
P. Th. EVERARD.
Banker.
P. M. J. QILISSEN,
Acts
Acts
Capital, Surplus and
SANTIAGO.
CAIBARIEN,
SAGUA LA GRANDE
CAMAGUEY.
3AN0TI SPIRITUS;
.
PINAR DEL RIO.
Guardian, Agent, etc.
CAMAJUANX.
NEW YORK AGENCY—1 WALL ST.
Corporation Mortgages.
Collections
•ole
a
Specialty.
Depositary for the Funds of the Republic of
Cuba.
United States Depositary In Cuba.
Cable Address—Banoooao.
THE FIRST NATIONAL BANK
OF CINCINNATI
CHARTER 24.
CAPITAL
$6,000,000
$40,1 « i mini
-
RESOURCES
WM. S. ROWE. President
C. B. WRIGHT. Vice-President
JOS. RAWSON. Vice-President
S. R. BURTON. Vice-President
W. W. BROWN. Vice-President
C. J. STEDMAN, Vice-President
T. J. DAVIS. Cashier
R. Me EVILLEY. Assistant Cashier
W. P. STAMM. Assistant Cashier
P. E. KLINE, Assistant Cashier
J. J. ROWE. Assistant Cashier
CHAS. A. STEVENS. Assistant Cashier
BANK OF
HAVANA
76 CUBA STREET
CARLOS DE ZALDO. President
JOSE I. DE LA CAMARA. Vice-President
John E. G&rdin 1
Alvin W. KrechlNew York Committee
James H. Post J
Acts as Caban correspondent of American
banks and transacts a general banking business.
Capital, $1,000,000
MELLON NATIONAL BANK
LADD a TILTON BANK
PORTLAND
PITTSBURGH
A bank whose service
is
OREGON
Capital Fully Paid - - - $1,000,000
Surplus and Undivided Profits $600,000
correspondents
unsurpassed.
Write for
A. W.
to
-
Established 1850
OFFICERS.
W. M. Ladd, President. R. S. Howard Jr., Asst. Cash.
Cooking ham, V.-Pres. J. W. Ladd, Asst. Cashier.
W. H. Dunckiey, Cash. Walter M. Cook, Asst. Cash.
Interest paid on Time Deposits and Savings Aoeounts.
E.
terms.
MELLON, Prest.
W. S.
MITCHELL, Cashier
CAPITAL AND SURPLUS
Accounts of
solicited.
tverjr
$6,900,000
Banks, Finns, Corporations and Individuals
We are prepared to furnish depositors
facility consistent with good banking.
BATTERY PARK NATIONAL BANK
TWO BROADWAY (Produce Exch. Bldg.)
Shipping and Export Accounts Invited
NOW READY
CAPITAL AND SURPLUS, $300,000 4
B. A. DE
Hand-Book of Securities
JANUARY 1910, EDITION
Railroads and Leading Industrial Companies—Statement
showing
outstanding Stocks and Bonds and also the Income for a series of
ysars past, as well as the annual charges against income.
on
Railroad Stocks and
paid yearly from 1903 to date.
.Negotiations, Investigations, Reports,
United States, Canada, or Foreign
Tribune Building, 154 Nassau Street,
Telephone 4218 Beekman,
NEW YORK, N
j
Y.
NATIONAL LIGHT,
1909.
Leading Industrial Stocks—
HEAT
A
POWER CO.
GUARANTEED
BONDS
PRICE or SINGLE COPIES,
TO SUBSCRIBERS OP THE
CHRONICLE,
WILLIAM B. DANA
B. EDWARDS
year 1908 and 1009.
Yearly Range of Active Stocks—1906,1907,1908 and
Dividends
CEO
EDWIN B. DAY, Cashier.
BROKER AND COMMERCIAL AGENT
CONTENTS:
Highest and Lowest Prices—Monthly for
LIMA, Prest.
-
-
AM IttUM
$1 00
75
COMPANY, Publishers,
FRONT, PINE AND DBPEYSTER STREETS, NEW YORK
A. H.
Bickmore & Go.,
BANKERS
35 Pine
Street,
Mew York
JAN. 29
THE CHRONICLE
1810.]
gltxatxcial.
TtTI
gitmiijciat.
The Union Discount Co. of London, L’t’d.
Farm Land
3-9
CORNHILL, LONDON, E. C.
Cable address, “UD18CO, LONDON.”
the Basis of
Value
Oapltal Subscribed, $7,600,000,
In 150,000 Shares of $50 each, on
$3,760,000
2,800,000
Number of Shareholders, 2,847.
In making investments the first
should always be the character of
consideration
the security.
Every Investor to whom income is Important
They form. In our estimation, the safest way to
earn 8 per cent.
the loan.
The farms are exceedingly fertile, and are not
subject to crop failures. Any one season’s earn¬
ings are generally sufficient to repay the whole
Arthur John Fraser.
The Hon. Wm. Henry Goschen.
Sir Thomas Jackson, Bart.
Henry Oppenheim.
Manager,
Secured by a Thousand Farms
Irrigation bonds are secured by first liens on
good farm land—sometimes a thousand farms.
The farms are worth usually at least four times
CHRISTOPHER R. NUGENT.
Sub-Manager,
F. NEVILL JACKSON.
BALANCE SHEET,
Dr.
To
Foreign Dept. Manager,
Assistant Sub-Manager,
E. C. STEVENSON.
By Cash at Bankers
Consols,
Exchequer
Capital Account,
“
150,000 Shares
Of $50
loan.
$7,500,000 00
The bonds are additionally secured by a first
$25 per Snare.
Reserve Fund
mortgage on an irrigation system, in which the
Investment is often twice the bond issue.
Provident Re¬
serve Fund.
Loans and De-
“
“
which form—as do School bonds—a tax lien on
the district.
Some
are
Issued under the “Carey
$3,750,000 00
2.700.000 00
Act,” where the State supervises the project.
320,378 50
propriation
709,524 19
They are passed on by our own
engineers and attorneys. And an officer of our
Company constantly resides In the irrigated sec¬
tions, watching the projects we finance.
all this experi¬
(Rebate
of
**
*
”
’’
Account
Reserve Fund
$100,000 Oi
Provident Res’veFd.
25,000 00
Dividend for the halfyear at the rate of
12 per cent per an¬
num, free of Inoome Tax
225,000 00
Balance carried for¬
ward to next Ac¬
696.507 63
J
4
259,524 19
709,524 19
$1,501,532 56
$1,501,532 56
ARTHUR J. FRASER,1
W. B. HOBBS
Secretary.
W. T. BRAND,
/Directors
Balance
brought down..
$259,524 19
The Company discounts approved Bank and Mercantile Acceptances, receives Money on Deposit
and grants Loans on approved Negotiable Securities at rates which can be ascertained on application
at the Office, and effects Purchases and Sales of Government Stocks, Shares, and other Securities.'
on the usual terms.
LONDON, E. C., 7th January t 1910.
State
By Balance brought forward from
30th June, 1909
$345,965 17
Gross Profits for the half-year,
after making provision for con¬
tingencies
1.155.557 39
$95,500 54
Trowbridge & Niver Co,
City.
Cr.
Interest
count
Name
ending 31st Dec., 1909.
on Bills discounted
not
due, carried
forward
to
New
book which every investor should read.
Please cut out this ooupon as a reminder to send
for it.
(16)
Please send your free book on Irrigation Bonds
$141,601,497 75
’’
Rent and Taxes,
Directors’ Fees,and
all other charges.
.
“
ence—a
First National Bank Butidnt, Chicago
§0 Coo gross St.. Boston
111 Broadway, Now York
First Nat. Bk. Bldg,, San Francisco.
590,886 87
1,406,032 02
Salarie
including salaries,
Our dominant place now gives us the pick of
on
Freehold and Leasehold Prem¬
ises, Fittings and Furniture,
cost, less Depredation
written off half-yearly
xpenses
dollar of loss has resulted to any
these projects.
9,682,471 67
109,705,008 10
5,142 24
...
Sundry Debit Balances
Profit and Loss Account for the Six Months
Dr.
investor.
We have issued a book based
“
Bills Discounted, &o
$141,601,497 75
In the past 18 years we have sold 78 separate
issues of Reclamation bonds, all based on farm
17.212,072 79
at
78 Issues Sold
a
$4,405,915 98
Bonds,
Indian
Government
and
other Securities
Loans on Securities at call and
short dates, and other Ac¬
133,425,087 23
short-time investments.
Not
Gtm
Rebate on Bills
■Discounted..
696,507 83
Balance at Credit
of Profit and
Loss
for
Ap¬
They are issued In denominations of $100, $500
and $1,000, so one may invest either little or
much.
All are serial bonds, part of which are
paid annually, so one may make long-time or
liens.
“
for contingen¬
cies
88.828,149 98
Bills Re-dlsc't’d.44,596,937 25
••
W. B. HOBBS
counts
”
E>sits,
includg
provision
Irrigation bonds are municipal securities,
Secretary,
C. BERGEL.
31ST DECEMBER, 1909.
Amount paid,
Some
J
DIRECTORS.
Robert Balfour, M. P.
William Thomas Brand.
Sir William Dunn, Bart.
learn the facts about Irrigation bonds.
should
which $25 have been paid.
Paid up,
Reserve Fund,
$|»ll.
769
gtolixes.
~«rtnrw»r»fw~»rTiry>rw->n -i-iinn-ii-iii-N-,-1*-^
Sterlings.
OFFICE OF THE UNITED 0 AS IMPROVEMENT
Company, N. W. cor. Broad and Arch Sts.
Philadelphia, Deo. 9, 1909.
__
A^special meeting of the Stockholders of the
united Gas Improvement Company will be held
at the office of the Company, Northwest corner
of Broad and Arch streets, Philadelphia, on
Wednesday. February 9.1910. at 12 o’clock noon,
for the purpose of acting upon the subjeot of a
proposed increase in the authorised oapltal stock
of the Company from 1,009,467 shares, of the
par value of $50 each, to 1,110,414 shares, of the
par value of $50 each.
By order of the Board of Directors.
^
W. F. DOUTHIRT, Secretary.
The stock transfer books will be closed from
2 p. m., January 28 1910, until 10 a. m.. Feb¬
ruary 10 1910.
.
PEOPLES GAS
LIGHT & COKE COMPANY
(of Chicago).
The Annual Meeting of the Stockholders of The
Peoples Gas Light A Coke Company will be held
at the office of the Company in Chicago, Adams
Street and Michigan Avenue, on Thursday morn¬
ing, February 10,1910, at 11 o’clock. The trans¬
fer books will close in accordance with the
by¬
the close of business on Thursday.
January 20,1910, and will reopen Friday morning,
February 11,1910, at 10 o’clock.
GEORGE O. KNAPP, President
laws,
at
•«-»------------y--Hr‘iVirinnrilviv»vinivvv^u
MARYLAND TRUST COMPANY, TRUSTEE.
TIMBER CERTIFICATES
<
OF BENEFICIAL
INTEREST IN THE KIRBY LUMBER COM*
PANY CONTRACT WITH HOUSTON OIL
COMPANY OF TEXAS.
Notice is hereby given that the Interest Coupons
due February 1, 1910, on the First and Second
Issues of Timber Certificates of beneficial Interest
Kirby Lumber Company Contract, and the
Principal of $470,000 of Series ”M”, First Issue
of said Certificates, due February 1, 1910. will
be paid at maturity upon presentation at the
offioe of the Maryland Trust Company, in the
City of Baltimore, Maryland, or at the offioe of
its Agent, The Chase National Bank, in the City
in the
of New York.
Maryland Trust Company, Trustee.
Baltimore. Maryland, January 28, 1010.
NOTICE.—The Merchants’ National Bank of
Cincinnati, located at Cincinnati, in the State
of Ohio, is (dosing up its affairs.
All note holders
and others, creditors of said Association, are
therefore hereby notified to present the notes
and other claims against the Association for^payment.
W. P. STAMM, Cashier.
Dated January 27th, 1910.
NOTICE TO ALL.
The Mlneoia National Bank, located at Mineola,
Texas, is dosing its affairs.
All, note-holders and other creditors of the asso¬
ciation are hereby notified to present the notes
and other oialms for payment.
J. C. ED ELEN, Cashier.
Mlneola.TTex. ,"ian.55,|l9IO.
.,
T. W. STEPHENS & 00.
•ANKERS
S WALL
STREET, EEW TORE.
INVESTMENT
Interest allowed
Individuals and
on
BONDS
accounts of
Corporations
Hand-Book of Securities
Jan. 1910 Edition.
DESCRIPTION
PRICES
DIVIDENDS
INCOME
Price of Single Copies ...
$190
.
To Subscribers of the Chronicle
.
IS
The Hand-Book Is Issued to Bankers and
Broken with their cards lettered in gilt on the
outside cover (In quantity) at special rates.
Commercial & Financial Chronicle
THE CHRONICLE
[VOL.
©fttcago.
LXXXX.
Ifitrattjcial.
C. I. HUDSON & CO.,
Hoi. 34-36 WALL ST., HEW TOBK.
Members New York and Chicago Stock Exchanges
TELEPHONE 8070 JOHN.
WOODIN, McNEAR & MOORE
Miscellaneous Securities
in ail Markets.
PRIVATE WIRES TO PRINCIPAL CITIES.
Investment Bonds
SIMON BORG & CO.,
Commercial National
Bank
BANKBB8,
Building
Members of Now York Stock Exchange
No. 20 Nassau 8treet,
CHICAGO
-
Now York
High-Grade
Investment Securities
MELLOR & PETRY
(Succeeding TOL AND BROS, ft COJ
Stocks, Bonds, Investment Securities
EDWARD P. RUSSELL
WALTER S. BREWSTER
EDWARD L. BREWSTER. Special Partner
104 SOUTH FIFTH ST.,
C. L. PENISTON
Philadelphia
MEMBERS
NEW YORK STOCK EXCHANGE
PHILADELPHIA STOCK EXCHANGE
RUSSELL, BREWSTER & CO. JOHN
SUCCESSORS
OF
EDWARD L. BREWSTER & CO.
BANKERS AND BROKERS
137 ADAMS STREET
TRINITY BUILDING
and
CHICAGO
H. DAVIS & CO.,
BANKERS AND BROKERS.
NEW YORK
NO. 10 WALL STREET.
Members N. Y. and Phila. Stock Exchanges.
Orders for Stocks and Bonds executed upon all
Exchangee in this country and Europe.,
Especial attention given to supplying hlgh-das.
INVESTMENT SECURITIES.
Interest Allowed
on
Deposits Subject to Checks
EFFINGHAM LAWRENCE & CO.
111 BROADWAY. HEW YORK
Members N. Y. Stock Exchange
MEMBERS
flew
York Stock Exchange
OF
Chicago Stock Exchange
BANKERS, BROKERS
Chicago Board of Trade
AND
Dealers in Investment Securities
Dealers in
High-Grade Investment Securities
Circulars upon application
Commission Orders Executed for CASH
or on
W. E. HUTTON & CO.,
NEW YORK—CINCINNATI
15 Broad St.
Members New York Stook Exchange
MARGIN
Bonde and Stocks of Ohio
Companies.
WM.
FAHinurrOCK,
T. J. MUMTORD
Memb. N. Y. Stock Ox.
Fahnestock & Co.
0
Babcock, Rushton & Co.
BANKERS
BROKERS
BROKERS AMD OSALRB8 IS
INVESTMENT
SECURITIES
2 WALL STREET.
Adrian H. Muller & Son,
AUCTIONEERS.
Investment Securities
Regular Weekly Sales
STOCKS and BONDS
OF
Members:—NEW YORK STOCK EXCHANGE
EVERY WEDNESDAY
CHICAGO STOCK EXCHANGE
CHICAGO
BOARDgOF TRADE
“The Rookery”
18 Wall Street
Chicago
New York
Office, No. SB WILLIAM 87UKIT,
Corner Pine Street.
H. AMY 8b CO..
BANKER'S,
44
and 46 Wall St, New York.
INVESTMENT SECURITIES
Bills of Exchange.
Letters of Credit.
Jan. 29
THE CHRONICLE
1910.]
XT
glttanclal.
THE MERCHANTS LOAN
AND TRUST COMPANY
Trowbridge & Co.
BANKERS
Members New York Stock
OLDEST BANK IN CHICAGO
Exchange
Statement of Condition at the Close of Business December 31, 1909
LIABILITIES.
RESOURCES.
Loans and Discounts.
$32,714,173 70 Capital Stock
$3,000,000
Bonds and Mortgages
7,921,702 01 Surplus Fund
5,000,000
Due from Banks $11,288,386 49
Undivided Profits
510,211
Cash and Checks
Dividend Payable January 1st,
for Clearing
1910
90,000
House
Reserved for Accrued Interest
7,984,025 51
and Taxes
177,986
19,272,412 00 Deposits
51,130,091
_
„
_
_
Bonds and Stocks
for Investment
$59,908,288 61
00
00
32
00
25
04
$59,908,288 61
ESTABLISHED 1857
NEW YORK
111
NEW HAVEN
Broadway
Headquarters for Highest Grade Bonds
134 Orange St.
A. M. KIDDER & CO.
and
“Corn Beit’*
Farm
Mortgages
ORSON SMITH, President
P. C. PETERSON, Assistant Cashier
EDMUND D. HULBERT, Vice-President
C. E. ESTES, Assistant Cashier
F. G. NELSON, Vice-President
LEON L. LOEHR, Secy, and Trust Officer
JOHN E. BLUNT JR., Vice-President
F. W. THOMPSON, Manager Farm Loan
j. G. ORCHARD, Cashier
Dept.
H. G. P. DEANS, Manager Foreign Dept.
135 Adams St.,
BANKERS
18 WALL STREET. NEW YORK.
Established 1865
MEMBERS OP N. Y. STOCK EXCHANGE.
Allow Interest on deposits subject to sight check.
Chicago
Buy and sell on commission stocks and bonds, and
RAILROAD BONDS
GUARANTEED STOCKS
CHARLES FEARON & 00.,
E
H.
BANKERS.
DEALERS
/ New York Stock Exchange.
\Philadelphia Stock Exchange.
333 Chestnut St.,
-
IN
GOVERNMENT, MUNICIPAL,
PHILADELPHIA
RAILROAD AND PUBLIC SERVICE
CORPORATION BONDS
Simpson, Pearce & Co.
Members New York Stock
& SONS
BANKERS
Orders Executed on all Leading
Stock Exchanges;
su.mh.nIMomDCFB.
ROLLINS
Exchange
LIST OH APPLICATION
Telephones
111 BROADWAY
4490-1-2-1-4 Rector
NEW YORK
238-240 LA SALLE STREET
McCURDY,
CHICAGO
HENDERSON & CO.
24 NASSAU STREET
BOSTON
DENVER
NEW YORK
SAN FRANCISCO
MKRBRB8 N. Y. STOCK EXCHANGE
Transact
General Banking and Stock
Exchange Business.
a
Norman S. Walker Jr.
John Y. G. Walker
Bi, Norton '
HATHAWAY, SMITH, FOLDS & CO.
WALKER BROS.
71
Broadway, N. Y,
Members N. Y. Stock Exchange
DEALERS IN
Bankers & Brokers
Henry G, Campbell
Edwin P. Campbell
James G. MacLean
H. G.
Campbell & Co.
COMMERCIAL PAPER
11 WALL STREET. NEW YORK
Members New York Stock Exchange
Securities
Bought & Sold
on
205 LA SALLE STREET
Commission
CHICAGO
VICKERS a PHELPS
88 Wall Street. New York City.
Members of New York Stock Exchange
BOMBS
Oaih orders
CHARLES W.
only in stocks accepted
IMS
FOLDS, Resident Partner
1910
Jas. B. Colgate St Co.
BOSTON
NEW YORK
ST. LOUIS
86 WaQ Street. New York.
Members
Vt Y. Stock Ex.
Investment 45 Wall Street
Bonds.
60
Congress Street
408 Olive Street
in
THE CHRONICLE
[VOL. LXXXX.
©ftixagjcr.
gttiaujctal.
ERVIN & COMPANY,
S. B. CHAPIN & CO.
BANKERS,
¥
.
members
BANKERS
< New York Stock Exchange,
Phila elphia ttock Exchange.
BONDS
AND
FOR
Drexel
INVESTMENT.
Building, Philadelphia.
BROKERS
Long Distance Telephone No. L. D. 107.
MEMBERS
Thomas L. Manson A Oo.
NEW YORK STOCK EXCHANGE
NEW YORK COTTON EXCHANGE
NEW YORK COFFEE EXCHANGE
CHICAGO STOCK EXCHANGE
CHICAGO BOARD OF TRADE
STOCK BROKERS
Members N. Y. and Boston Stock Exchange*.
71
Broadway,
NEW YORK
-
Tel. 2500 Rector.
ROOKERY, BUILDING,
CHICAGO
CONGRESS HOTEL,
CHICAGO
TRINITY BUILDING,
NEW YORK
Private Wires
to
Boston, Hartford, New Haven
Philadelphia.
and
Robert H. Allen.
Stanley D. McGraw.
William M. Vanoe.
ALLEN, McGKAW A 00.,
I Nassau
LOGAN & BRYAN
Members
N. Y. Stock Exchange.
COMMISSION MERCHANTS
STOCKS, BONDS, GRAIN, PROVISIONS,
COTTON AND COFFEE
Members
George P. Schmidt
Frederto Gallatin Jr.
Albert R. Gallatin
J. Prentice Kellogg
William A. Larned
Chas. H..Blair Jr.
2
SCHMIDT A GALLATIN
111
:
NEW YORK STOCK EXCHANGE
BOSTON STOCK EXCHANGE
CHICAGO BOARD OF TRADE
NEW YORK COTTON EXCHANGE
NEW ORLEANS COTTON EXCHANGE
8treet, New York
Broadway
NEW YORK CITY
E. W. CLARK
LIVERPOOL COTTON ASSOCIATION
tb
CO.,
PHILADELPHIA
321 Chestnut Street,
CHICAGO, 2 Board of Trade
NEW YORK, hi
Broadway
LOS ANGELES, Broadway and
3d Street
SAN FRANCISCO, Merchants’ Exch.
Bldg.
PRIVATE WIRES FROM ATLANTIC TO PAOIFIO
Members Phlla. and New York~Stock
Exchanges.
Interest allowed on deposits.
N«r York
Corr«pondenU:{C[«rk.NDodke 4Cj>.
Parkinson & Burr
STOCK BROKERS
T WALL STREET.
NEW YORK.
53 STATE
STREET.
BOSTON.
Members New York and Boston Stock
Exohanges.
Private wire between the two offioes.
Information given in regard to all Boston Securi¬
ties and quotations furnished.
Allan M. Clement
John F. L. Curtis
Frank R. McMullin
CLEMENT, CURTIS <fc CO
STOCKS, BONDS, GRAIN
and PROVISIONS
219 LASALLE
STREET, ROOKERY BUILDING,
CHICAGO
J. S. Farlee.
J.
W. S. Tar bell.
S. FARLEE & CO.
MEMBERS NEW YORK STOCK EXCHANGE.
BROKERS AND DEALERS IN
INVESTMENT SECURITIES
11 WALL (STREET. NEW YORK
William Herbert & Co.
MEMBERSTN. Y. STOCK EXCHANGE
Hanover Bank
11 PINE
STREET,
E. A C.
MEMBERS
New York Stock Exchange
New York Cotton Exchange
H. L. Finch.
Building
-
NEW YORK
RANDOLPH,
Members New York Stock
Exchange.
Ill Broadway. New York.
Open Market Securities Department
New York Coffee Exchange
New York Produce Exchange
Chicago Stock Exchange
Chicago Board of Trade
Grain Dealers’ National Association
HORACE HATCH. Manager.
Dealers In Investment and Other
Securities of the
United States and Canada.
W.
H.
Goadby & Co.
HANKERS AND BROKERS
NO. 74 BROADWAY. NEW YORK
Jan. 29
THE CHRONICLE
1910.]
©ompatitje*.
Union Trust
irn
©Mjcagjcr.
Company
OF NEW YORK
«0 BROADWAY
CHARTERED 1804
Bonds for Investment
Branch 435 Fifth Avenue. Corner 38th Street
With Modern Safe Deposit Vaults
Capital $1,000,000
Surplus (earned) $8,000,000
MUNICIPAL
RAILROAD
ALLOWS INTEREST ON DEPOSITS
Acts as Executor.
INQUIRY INVITED
Quardian. Trustee. &c.
Administers "Institutional** and Other
Fiduciary 1 rusts.
Receives Securities for Safe Keeping and
Collection of Income.
TRUSTEES.
H. Van R. Kennedy.
James Gore King.
Amory S. Carhart,
Alex. S. Cochran.
W. Emlen Roosevelt.
Amos F. Eno.
N. Parker Shortrtdge,
Frederic deP. Foster,
James Sptyjr,
Harrison E. Gawtry.
John V. B. Thayer.
Robert W. Goelet,
Charles H. Tweed.
Adrian Iaelin Jr..
Richard T. Wilson,
James T. Woodward.
Augustus W. Kelley.
William Woodward.
PUBLIC UTILITY
N. W. HALSEY & CO
Walter P. Bliss,
BANKERS
152 Monroe Street,
Chicago
PHILADELPHIA
NEW YORK
SAN FRANCISCO
1429 Chestnut St.
49
424 California St.
Wall
St.
OFFICERS.
AUGUSTUS W. KELLEY-, Vice-President
JOHN V. B. THAYER. Vloe-Prest. & Sec.
EDWARD R MERRITT. Vl«-President.
C. C. RAWLINGS, Trust Officer.
HENRY M. POPHAM. *
T. W. H ARTSHORNE, lAsst. Sec'ys.
HENRY M. MYRICK, J
Jas. H.
Manhattan
Oliphant & Co.
BANKERS
and
Trust
BROKERS
Company
MEMBERS
NEW YORK STOCK EXCHANGE
CHICAGO STOCK EXCHANGE
Wall
Street, Corner Nassau
NEW YORK
The NEW ENGLAND
TRUST COMPANY,
BOSTON, 'IASS
CAPITAL. *1.000.000
SURPLUS. *1.000.000
Safe Deposit Vaults
711 The
20
Rookery,
Broad Street,
McCOY
Chicago
New York
COMPANY
Authorised to act as Executor, and to reoeive
and hold money or property in trust or on deposit
from Courts of Law or Equity Executors
Administrators, Assignees, Guardians, Trustees;
Corporations and Individuals.
Also acts as Trustee under Mortgages and as
Transfer Agent and Registrar of Stocks and Bonds
Interest allowed on Deposits Subject to Check
OFFICERS
DAVID R. WHITNEY. President
CHARLES F. CHOATE, Vice-President
ALEXANDER COCHRANE, Vlce-PresldM*
NATHANIEL THAYER. Vice-President
JAMES R. HOOPER. Ajtuary
HENRY N. MARK. Secretary
FRED. VV. ALLEN, Asst. Sec. A 'iYea
THOMAS E. EATON, Asst. Treas.
‘
FRANCIS R. JEWETT. Trust Office.
CHAS. E. NOTT. Mgr Safe Dep. V!*
BOARD of directors
William Endlcott, Chairman
Walter C. Baylles
.lames G. Freemar
Alfred Bowdltch
Morris Gray
S. Parker Bremer,
James R. Ucope:
Municipal and
Corporation Bonds
^
Timothy E. Byrnes
Charles F. Choate
Alexander* Cochraae
George Doxtei
Philip Dexter
William Endlcott Jr.
Francis W. Fabyan
William Farnsworth
Frederick P. Fish
181 LA SALLE STREET
Ernest Lovering
H»*;iry H. Proctoi
Tame.? M. Prendery»
Herbert M Sears
Lawrence M. Suck to
Nathan.el Thayer
Eugene V. R. Thayt*
Davk: R
Whitney
George WT-gleswortL
CHICAGO
ivtli
THE CHRONICLE
[VOL.
©ftijcagpcr.
IiXXXX.
%xuet @0mpatit«s.
Mississippi Valiev Trust Co.
Arthur O. Slaughter
Fourth & Pine Sts.
Philip W. Seipp
Frank W. Thomas
A. O. SLAUGHTER & CO
St. LouA
CAPITAL. 8VRPLUS
l go AAft 000
and PROFIT81 *°»wu»uuu
GENERAL FINANCIAL
AND
FIDUCIARY
BUSINESS TRANSACTED.
■
DIRECTORS.
John I. Begat. President Milwaukee Light Heat A
Traction Co.
'
Wilbur F. Boyle. Boyle & Priest,
BROKERS
lames E. Brock. Secretary.
August A. Busch. Vice-President Anheuser-Busch
Brewing Association.
Hurray Carle ton. President Carleten Dry GoodsCo.
New
New
New
MEMBERS New
York
York
York
York
Stock Exchange
Produce Exchange
Cotton Exchange
Coffee Exchange
Chicago Board of Trade
Chicago Stock Exchange
,St. Louis Merchants’ Exchange
Charles Clark.
Horatio N. Davis, President Smith A Davis Mfg.Co.
John D. Davis. Vice-President.
Davfd R.
s^Francis,
Fraud
Bro. A Co.
August Oehner. President German-AmericanBank
3. E. Hoffman, Vice-President.
Breckinridge Jones, President.
Wm. 0. Lackey. Vice-President and Bond Officer.
W. J. McBride. V.-Pres. Haskell A Barker Car Co.
Nelson W. McLeod, Vice-President GraysonMoLeod Lumber Co.
Saunders Nor veil. President Norvell-Shapleigh
Hardware Co.
STOCKS, BONDS, GRAIN, PROVISIONS,
COTTON, COFFEE
139 MONROE STREET, N. T. LIFE BUILDING
CHICAGO
Robert J. O’Reilly. M. D.
Wm. D. Orthwein. President Wm. D. Orthweln
Grain Co.
Henry W. Peters, President Peters Shoe Co.
H. C. Pierce. Chairman Board Waters-PleroeOilCo.
August Schlafly, August Schlafly A Sons.
R. H. Stockton, President Majestic Mfg. Co.
lullus S. Walsh, Chairman of the Board.
Rolla Wells.
Rhode Island Hospital
Trust Company,
PROVIDENCE, R. I.
CAPITAL
SURPLUS
$2,000,000
$2,000,000
DIRECTORS.
Members
New York Stock Exchange
New York Coffee Exchange
Chicago Stock Exchange
Chicago Board of Trade
Wm. H. Colvin & Co.
STOCK BROKERS
Royal O. Taft,
Howard O. St urges,
Robert H. I. Goddard, Stephen O. Metcalf,
Robert I. Gammell,
Walter R. Callender,
William B. Weeden,
Edward Holbrook,
Edward D. Pearce,
Robert Knight,
John W. Danielson.
Herbert J. Wells,
Lyman B. Goff,
Rowland G. Hazard,
James E. Sullivan,
Benjamin M. Jackson;
John R. Freeman,
Charles S. Mellon,
Robert W. Taft,
Webster Knight,
Nelson W. Aldrich,
Stephen O. Edwards,
Samuel R; Dorranoe,
Frank
„■ W. Mattcson,
R. H. Ives Goddard Jr.
HERBERT J. WELLS, President.
EDWARD S. CLARK. Vice-President.
HORATIO A. HUNT. Vice-President. “
WILLIAM A. GAMWELL. Secretary.
PRESTON H. GARDNER. Trust Offloer.
CYRUS E. LAPHAM. Asst. Seo'y.
JOHN E. WILLIAMS, Asst. Seo'y.
HENRY L. SLADER, Asst. Seo'y.
Q. A. HARRINGTON. Asst .Tr.Officer
_
Girard Trust
I82-184 La Salle Street
CHICAGO
Company.
CAPITAL and SURPLUS, $10,000,000
OHARTERED 1830.
Acts
as
_
Executor. Administrator. Trustee.
Assignee and Receiver.
Financial Agent for Individuals
BOND DEPARTMENT
or
Corporations,
Interest Allowed
on
individual and
UNLISTED SECURITIES
Assumes entire charge of ~Reaf Estate,
Safes to Rent in Burglar-Proof Vaults.
E. B. MORRIS. President.
W. N. ELY, 1st Vice-President.
A. A. JACKSON, 2d Vice-President.
0. J. RHOADS, 3d Vice-Pres, and Treasurer.
E. S. PAGE, Secretary.
Harris,
25
Winthrop and Co.
Pine Street, New York
.
The
MANAGERS:
Effingham B. Morris.
Edward J. Berwlnd;
•ohn A. Brown Jr-.
Randal Morgan,
/ohn B. Garrett.
Edw. T. Stotesbuiy;
William H. Gaw,
Charles E. Ingersou,
brands I. Gowen,
John S. Jenks Jr,i
Jeo. H. McFadden,
Henry B. Ooxe.
Henry Tatnall.
Edgar C. Felton,
Isaac H. Clothier,
William T. Elliott
Thos. DeWltt Cuyler,
W. Hlnckle Smith.
1. Hartman Kuhn,
Tames Speyer,
B. Dawson Coleman.
Broad and Chestnut
Streets.
PHILADELPHIA
Rookery, Chicago
CENTRAL
STOCKS
BONDS
GRAIN
TRUST COMPANY
OF ILLINOIS,
CHICAGO
New York Stock
MEMBERS
Exchange
Exchange
New York Cotton
New York
Chicago Board of Trade
Chicago Stock Exchange
Produce Exchange
apital,
.....
urptus and Profits
•
$2,000,000'
900,000
Vice-President.
maloolm
AN KING
McDowell, ass*.
SAVINGS
AND
DEPARTMENTS.
TRUST*
Jan. 29
1910.]
THE CHRONICLE
XII
©ftfccagor.
H. M. By llesby & Co.
Incorporated
FIRST TRUST and
SAVINGS BANK
ENGINEERS
DESIGN. CONSTRUCT AND OPER¬
ATE RAILWAY, LIGHT, POWER,
HYDRAULIC AND GAS PLANTS.
CHICAGO, ILLINOIS
EXAMINATIONS and REPORTS
218 La Salle Street, CHICAGO
Oklahoma City, Oklahoma,
Mobile, Ala.,
San Diego, CaL
JAMES B. FORQAN, President
EMILE K. BOISOT. Vice-President
BURT C. HARDENBROOK,
Manager Bond Dept.
FRANK M. GORDON,
Asst. Manager Bond Dept.
We
and offer for investment
own
WM. J. WILGUS,
M. Am. Soc. 0. E. Formerly
Chief Engr., Chm., Elec. Traction
carefully selected list of bonds,
including
MUNICIPAL
Gom., and Vice-Pres. N. Y. G. A
RAILROAD
CORPORATION
H. R. RR. and Leased Lines.
COLIN M. INGERSOLL,
M. Am. Soc. G. E.
Chief Engineer N. Y.
Formerly
N. H. & H.
RR.
Consulting Engineer on
Transportation, City of New York.
a
Yielding from 3%% to 5/4%
Suitable for the investment of Banks, estates or individuals.
Upon
we will be pleased to mail our monthly and all special circulars.
application
Advisory Engineers
Railroad and Municipal Problems
Investigation* and Reports
IN BROADWAY
NEW YORK
J. G. WHITE & CO.,
Engineers, Contractors,
43-49 Exchange Place. NEW YORK
Chisago, Ills.
San Francisco, CaJ.
McGEE & COMPANY
Investigations and Reports on Electric
Railway, Gas, Electric Light and Power
Properties Irrigation Systems, &c., for
>■
Financial Institutions and Investors.
Bankers
electric
Railways, Electric Light and Power
Plants, Irrigation Systems Financed,
Designed and Built
London
Correop ondmUt:
J. G. WHITE Sc
9
238 LA SALLE ST., CHICAGO
CO., Limited,
Cloak Lane, Cannon 8t., B. C.
We
and
buy and sell for our own account,
as brokers, all local
municipal and
public utility bonds
Edmond C. Tan Dlest
Robert MoF. Dob!
Thomas L. Wilkinson
Associated
Engineers Co.
Consulting and Supervising Engineers
417 Century Building
ink Sc Stoat Sts.,
DENVER, COLO.
Established 1889.
A. L.
REGISTER & CO..
Successors to Poppor Sc
Register,
KN8INEERS & 6ENCRAL CONTRACTORS,
lit North Broad 8treet, Philadelphia,
Slitting gttgfrttjetts.
Assets Realisation
H. M. CHANCE.
Consulting 1CirJng Engineer and Geologist
COAL AMD MINERAL PROPERTIES
Examined, Developed* Managed.
83
Drexel Bldg.,
PHILADELPHIA, PA
1859
1909
The United States Life
Insurance Co.
IN THE CITY OP NEW YORK.
Issues Quarantsed Contracts.
CHICAGO
100
H.
KELSEY. Pree.TitleQu.ATr.a
Chemical National Ban
ED. TOWNSEND, Pres. Imp. & Traders Nat. B1
or
Good men, whether experienced In life
Insurant
not. may make direct contracts with this Got
pany.
for a limited territory If desired, and seen
lor themselves..
In addition to tint year's oomml
sion,
a renewal Interest Insuring an lnoome for tl
future.
Address the
No 277 Broadway. New
Comiwny^atCity
Its Homo Offl
PHILADELPHIA
Washington St.
518 Walnut St.
NEW YORK
43
Exchange PI.
OFFICERS
GEORGE E. SHAW. President.
IRA M. COBE. Vloe-President.
CHARLES R. MOORE, Asst.Trees.* Asst.SeoJOHN W. McKINNON, Vice-President.
WILLIAM S. HOOD. Assistant
Secretary.
EDWARD RIDGELY, 2d Vice-President.
STANLEY W. SWABEY, General Counsel.
THEODORE FROTHINGHAM,Sec. ATreas. R. S.
KNOX, Auditor.
Purchases Estates in
JOHN P. MUNN, M.D., Pwddent.
Finance Committee
Company
Liquidation
at any
point in United States
CHARACTER OF BUSINESS
Estates In
Liquidation will be purchased. Estates bought from Receivers and Trustees
in Bankruptcy.
Compositions In bankruptcy financed. Estates In reversion or
purchased. Reorganizations financed, unlisted securities purchased. Generalexpectation
purchases
By reason of our exceptional facilities we are able to make offers
sufficiently
large to
Justify sales in bulk to us. Our servloes during the past ten yean have been availed
of in
hundreds of oases by Courts, referees in bankruptcy and administrative and
Hqnidattng
officers of all kinds.
The Company does not limit itself to the
purchase of estates of a par¬
ticular kind, but will bid upon banks in
liquidation, manufacturing oonoeraa and debenture
made.
companies.
XX
THE CHRONICLE
[VOL.
(ffMcagtr.
LXXXX
Ituiattclal.
THIRD AVENUE
Wm, A. Read & Co.
Railroad Company
REORGANIZATION
Bankers
Members of the New York,
Chicago and Boston Stock Exchanges.
Investment Securities
r
list
*
of current
offerings
on
THE
PRINCIPAL
TO
HOLDERS OF THE FOUR PER CENT
FIRST CONSOLIDATED MORTGAGE HUN¬
DRED-YEAR GOLD BONDS OF THE THIRD
AVENUE RAILROAD COMPANY ISSUED
UNDER ITS MORTGAOE DATED MAY 15.
1900.
NOTICE IS HEREBY GIVEN to the holders
of the above-mentioned Four Per Cent First
Consolidated Mortgage Hundred-Year Gold Bonds
of The Third Avenue Railroad Company issued
under Its mortgage dated May 15. 1900. that
application.
COMMISSION ORDERS EXECUTED IN ALL
1
Notice to Non-Depositing
Bondholders
MARKETS.
pursuant to a Bondholders’ Agreement, dated
November 6, 1907, entered Into between certain
19
25 Nassau Street,
240 La Salle Street,
NEW YORK
CHICAGO
Congress Street.
203 E. German Street,
BOSTON.
5 Lothbury, E. C.
BALTIMORE.
LONDON.
holders of said bonds, as parties of the first
part, and James N. Wallace and others, Com¬
mittee, as parties of the second part, to which
Bondholders' Agreement reference Is made for
all its terms and provisions, a Plan and Agree¬
ment of
Reorganization, dated December 2,
1909, has been duly prepared and adopted and
a copy
thereof duly lodged with the Central
Trust Company of New York as Depositary.
Printed copies of such Bondholders’ Agreement
and of said Plan and Agreement of Reorganiza¬
tion may be obtained at the office of said De¬
positary. No. 54 Wall Street, New York.
Holders
of
solidated
said
Four
Per
Cent
First
Con¬
Mortgage
Hundred-Year Gold Bonds
of The Third Avenue Railroad Company who
have not yet deposited their bonds under the
aforesaid Bondholders’ Agreement of November
6, 1907, are hereby notified that they may
without penalty
become parties to the «ald
Bondholders' Agreement of November 6, 1907,
H. T. HOLTZ & CO.
and entitled to avail of the benefit of said Plan
and
Agreement of Reorganization, by deposit¬
ing their bonds with the coupon of January 1,
1908, and all subsequent coupons accompanying
the same, with the Central Trust Company
of New York, as Depositary, as aforesaid, on
or before February 18, 1910, and such deposit
shall be deemed equivalent to the filing of written
assent to said Plan and Agreement of Reorganiza¬
tion.
Bonds so deposited will thereafter be
held by the Depositary for account of the Com¬
mittee, subject to the terms and provisions
of said Bondholders’ Agreement of November 8,
1907, and said Plan and Agreement of Reorganiza¬
tion, as fully to all intents and purposes as If
heretofore deposited.
Dated New York, January 13, 1910.
JAMES N. WALLACE.
ADRIAN I SELIN,
EDMUND D. RANDOLPH.
MORTIMER L. SCHIFF,
JAMES TIMPSON,
HARRY BRONNER.
Bondholders’ Committee.
Dealers in
Municipal, Railroad and Corporation
Bonds for the Investments of Banks,
Institutions and
Private Investors.
*
v
CORRESPONDENCE INVITED
171 LASALLE ST.
CHICAGO
The most conservative bankers, brokers
and
investors have
constantly before
them
King,
O
BABSON’S
Stocks
ON
Fundamental Conditions
for
/
Bonds
REPORTS
;
details
concerning
these
*“
.
^
•
.
oc to.
Corn Exchange Bank Bldg !• :
200 La Salle St.. CHICAGO
MEMBERS
NewYork Stock Exchange
Chicago Stock Exchange
Chicago Board of Trade
V,
or
our
Babaon’s Compiling Offioes, Wellesley Hills, Mass
New York office, 33
Farnum Grain
Reports
‘Business Barometers’’ (which we Install In banks
ooth for their own and customers’ use) address
Broadway
Largest Statistical Organization in the U. S.
CAMERON & COMPANY, dealers in
IRRIGATION
AND
HYDRO-ELEC¬
TRIC BONDS, are in position to make
attractive prices to banks and bond
houses who wish to purchase entire
issues or parts of issues of such bonds,
which are secured by 1st Mortgage on
properties of unquestionable merit.
Correspondence and investigation in¬
vited.
■
•
CAMERON & COMPANY
815 First National Bank
CHICAGO.
Bldg.,
Jan. 29
THE CHRONICLE
1910.]
xxi
®Mjca0xr.
fPnatxjctal.
THIRD AVENUE
Railroad Company
The Northern Trust Company-Bank
REORG AN1Z 4TION
TO
CHICAGO, ILLINOIS
HOLDERS OF CERTIFICATES OF DE¬
POSIT ISSUED BY THE CENTRAL TRUST
COMPANY OF NEW YORK AS DEPOSI¬
UNDER THE BONDHOLDERS’
AGREEMENT. DATED NOVEMBER 6 1907,
FOR FOUR PER CENT FIRST CONSOLI¬
DATED
MORTGAGE HUNDRED-YEAR
GOLD BONDS OF THE THIRD AVENUE
RAILROAD COMPANY.
NOTICE IS HEREBY GIVEN to the DE¬
POSITING BONDHOLDERS and HOLDERS
OF CERTIFICATES OF DEPOSIT ISSUED by
the CENTRAL TRUST COMPANY OF NEW
YORK AS DEPOSITARY, under the Bond
holders’ Agreement dated November 6 1007,
BOND DEPARTMENT
TARY
'
between
holders
of the above-mentioned
.
Yielding from 3^4% to S%
Four
Per Cent First Consolidated Mortgage HundredYear Gold Bonds of The Third Avenue
Municipal, Railroad and Public Service
Corporation Bonds
Railroad
DESCRIPTIVE CIRCULARS UPON
APPLICATION
Company, as parties of the first part, and James
N. Wallace and others, Committee, as parties of
the terms and
provisions of said Bondholders’ Agreement the
undersigned Committee has prepared and adopted
a Plan and Agreement of Reorganization dated
December 2 1900, and has lodged a copy thereof
with the Central Trust Company of New York
as Depositary.
the second part, that pursuant to
As
$500,000
provided in said Bondholders’ Agreement
of November 6 1907, to which reference Is hereby
made, holders of certificates of deposit of the
Central Trust Company as Depositary may assent
to said Plan and Agreement of Reorganization
said Depositary their written
assent thereto, specifying the date and number
of the certificates held by them, or by falling,
within thirty days after the completion of the pub¬
lication of this notice, to file with the Depositary
either by filing with
Sanitary District of Chicago
4%
written notice of dissent from said Plan and Agree¬
and number of the cer¬
Such dissent must be
filed on or prior to February 28 1910 with the De
positary at Its office. No. 54 Wall Street, New
ment, specifying the date
tificates held by them.
York
City.
Said
Plan and
Agreement of
Reorganization
will become effective and binding upon all Cer¬
tificate Holders and will be finally and conclusively
deemed to have been assented to by all Certificate
Holders unless within thirty days after January 29
1910, the latter being the date of the completion
publication aforesaid, one third in amount
the De¬
positary written notice of their dissent from said
Plan and Agreement of Reorganization, the notice
of dissent filed by each Certificate Holder specify¬
ing the date and number of the Certificates held
by him.
Printed copies of said Plan and Agreement of
Reorganization may be obtained by Certificate
Holders on application to the Depositary at its
office. No. 54 Wall Street, New York.
Dated New York, January 13 1910.
of the
Municipal Bonds
*
Maturing serially December 1, 1911, to December 1, 1928.
registration as to principal.
The SANITARY DISTRICT OF CHICAGO is the largest and wealthiest municipal corporation
of its kind in the United States, its area consisting of 358 square miles, including the cities of
Chicago, Evanston, Wilmette, Harvey, Morgan Park and Blue Island.
The assessed valuation of the Sanitary District for 1909 (limited by Statute to only one-third
of equalized values) amounted to 3871,650,508, and its outstanding indebtedness, including accrued
interest, is restricted to three per cent of this assessed value. The Sanitary District consequently
may not become indebted to an amount in excess of 1% of the actual value of taxable property
Coupon Bonds of 31,000 each, with privilege of
within its limits.
Price, any unsold maturity,
9934 and accrued interest
of the Certificate Holders shall file with
JAMES N. WALLACE.
ADRIAN I SELIN,
EDMUND D. RANDOLPH.
MORTIMER L. SCHIFF.
JAMES TIMPSON,
HARRY BRONNER.
Bondholders’ Committee.
FARWELL TRUST COMPANY
226 LA SALLE
STREET,
CHICAGO, ILL.
Allerton, Greene & King
THEY HAVE OPENED OFFICES IN
THE ROOKERY, OHIOAGO, FOR THE CONDUCT OF A GENERAL
BOND AND INVESTMENT BUSINESS UNDER THE MANAGEMENT
OF MR. WILLIAM K. HOAGLAND, FORMERLY WITH THE NORTH¬
ERN TRUST COMPANY BOND DEPARTMENT.
DESIRE TO ANNOUNCE THAT
The
Company
of NEW YORK.
audit
<(The Oldest and Foremost”
SAMUEL W. ALLERTON,
Home Office
'
City Investing Building
GOVERNMENT BONDS
165
Broadway
Branches—Chicago, Philadelphia,
Pittsburgh, Atlanta
Boston,
CONFIDENTIAL AUDITS, INVESTI¬
GATIONS AND ENGINEER¬
ING APPRAISALS
THEpUSPORTING OF INDISPUTABLE
FACTS
KUNIOlPAI&BONDSj
RAILROAD2BONDS
CORPORATION BONDS
Capitalist.
FRANK R. GREENE,
Formerly Secretary Chicago City
Railway Company.
CALVIN P. KING,
Formerly Cashier Havana National
Bank, Havana, III.
MASON B. STARRING,
President Northwestern Elevated
Railroad Company.
NEWTON 0. KING,
President Havana National
Havana, III.
Bank,
XXII
THE
CHRONICLE
[VOL.
©Meager.
LXXXX
fPttatteial.
Lackawanna Steel Company
Conservative
Investments
We own and offer, subject to prior sale, or ad¬
in price, a strong list of first-class
Municipal,
vance
Corporation and Irrigation Bonds, to yield from 3.85
to 6 per cent.
Upon request we will be pleased to send our
general circular covering these securities, or any of
our
special offerings
on
specific issues.
ESTABLISHED 1893
MUNICIPAL BONDS
First National Bank
New York
Lackawanna, New York, January 20, 1010.
To the Stockholders of the Lackawanna Steel
Company—
Notice Is hereby given that a Special Meeting
of the stockholders of the
Company will be held
at the principal office of the
Company, in the City
of Lackawanna (formerly Town
of West Seneca),
Erie County, New York, on the fifteenth
day of
February, 1010, at ten o’clock in the forenoon, for
the purpose of
determining whether the stock¬
holders will take the following action:
(a) To consent to, and to authorise, the crea¬
tion of First Consolidated
Mortgage Gold Bonds
of the Company to be limited to the
aggregate
amount of
$35,000,000 at any one time outstand¬
ing, to bear Interest at such rate, not
exceeding
five per cent per annum, as the board of
directors
may from time to time determine, to be redeem¬
able, at the option of the Company, on and after
March 1. 1015, at 105 and
accrued interest;
$10,000,000 bonds to be presently issuable and
to constitute Series A, to be dated
March 1, 1010,
to bear interest at the rate
of five per cent, and
to be convertible at the
option of the holders
thereof into common stock of the
Company at
par,
Bldg., Chicago
Boston
San Francisco
and
during the period beginning March 1, 1012,'
ending February 28, 1022; and the board of
directors to be authorized to issue all or
any of
the remaining bonds with such
privilege of con¬
version into common stock as the
board may
deem advisable; and to consent
to, and to author¬
ize, the execution and delivery, to secure
said
First Consolidated Mortgage
Gold Bonds of a
mortgage or deed of trust of the real estate and
plant of the Company and the stocks and bonds
or obligations of other
corporations owned by the
Company, and of all property acquired by the
of said bonds or their proceeds. •
consent to, and to authorize, the
appli¬
cation to the purposes of such
conversion of any
unissued common stock of the
use
(b) To
Company.
W. L. Rohrer & Co.
DEALERS IN
PUBLIC SECURITIES
We Solicit the business of
Banks,
Trust Companies, Estates, Investors
Marquette Building
CHICAGO
(c) To consent to, and to authorize, the crea¬
tion of $10,000,000 Five-Year Five
Per Cent Con¬
vertible Gold Debentures of the
Company to be
dated March 1, 1910, to mature
March 1, 1915,
to be redeemable at the
option of the Company at
par and accrued interest on and after
March 1,
1913, and to be convertible at par, at the holder’s
option, into Seven Per Cent Cumulative Preferred
Stock of the Company on and after
March 1,
1912, until redemption or payment.
(d) To consent to, and to
authorize, the in¬
crease of the capital stock of the
Company by the
creation of Seven Per Cent Cumulative
Stock of the Company to the amount Preferred
of $10,000,000, the present authorized capital stock of the
Company to become Common stock; such Pre¬
ferred Stock to be divided into shares of
the par
value of $100 each, and to be set
apart for the
conversion of said $10,000,000
Five-Year Five
Per Cent Convertible Gold
Debentures; such
Preferred Stock to be entitled before
any pay¬
ment shall be made upon the common
stock or the
Company to the payment of cumulative divi¬
de-
ds a. the rate of
and no more, payable
seven
per cent per annnm.
quarterly, and in case of the
dissolution or winding up of the
Company, to payment in priority to the holders
of the
liquidation
DlinoisTrnst&SamigsBank
CHICAGO
Capital
#1
and.
Surplus
3,400,000
or
common stock out of the assets of
the Com¬
pany; such Preferred Stock to be redeemable or
retirable in cash at the option of the
Company at
115 and accrued dividends, on 60
days’ notice,
and not to be increased
except with the
of two-thirds in amount of Preferred Stockconsent
at the
time outstanding.
(e) To approve the form and provisions of the
mortgage or deed of trust to secure said First
Consolidated Mortgage Gold Bonds or to authorize
the board of directors to determine the
form and
provisions thereof and the property of the Com¬
pany to be embraced therein, as well as the form
and provisions of any trust
agreement pursuant
to which said Five-Year Five Per
Cent Convertible
Gold Debentures may be Issued.
(f) To consent to, and authorize, the sale of
said $10,000,000 First Consolidated
Mortgage Gold
Bonds Series A and of said $10,000,000
Five-Year
Five Per Cent Convertible Gold Debentures
upon
terms and at prices approved
by the board of
directors, such bonds and such debentures to be
first offered for subscription to the stockholders in
proportion to their respective holdings of stock,
at the prices during the periods and on
the terms
respectively fixed by the board of directors.
(g) To ratify and approve and to authorize
any action taken by the board of
directors for the purposes of or in connection with,
or in contemplation of,
any of the matters afore¬
said, Including the discharge of the existing Firat
Consolidated Mortgage, or other matter which the
board may submit to the meeting.
The stock transfer books will be closed
at 3
o’clock p. m. at the closing of business on Febru¬
ary l, 1910, and will be opened at 10 o'clock a. m.
at the opening of business on
February 17, 1910.
By order of the board of directors.
E. A. S. CLARKE, President.
ana consent to
Pays Interest
on
Time
Deposits, Current
and Reserve Accounts
Deals in Investment Securities and
Foreign Exchange
Transacts a General Trust
Business.
FRED. F. GRAHAM.
Secretary.
George I. Hovey & Co.
299
CORRESPONDENCE INVITED
BROADWAY, NEW YORK
INVESTMENT SECURITIES
BOUfiHT AND SOLD
ConailssIflM (Mass Executed
Jan. 29
THE CHRONICLE
1910.]
xxm
ffiMcajgpcr.
Tax Free in the State of Iowa
$525,000
CITY OF
WATERLOO, IOWA
454% Water Works Purchase and
Extension Bonds
January 15, 1910. Interest payable July 15th and January 15th, at City Treasurer's
office, Waterloo. Denomination, $1,000. Coupons may be collected through our office free of charge
Dated
OFFICIAL FINANCIAL STATEMENT.
Assessed valuation for taxation, 1909
Total debt, including this issue
$18,710,668
$908,168
525,000
Less water debt.....
Net
debt
$383,168
.......
Population (1909), 23,000
WATERLOO, the county seat of Blackhawk County situated in the central part of the State,
ranks in commercial and financial importance with Iowa's best cities, such as Cedar Rapids, Daven¬
port, Des Moines, Dubuque and Council Bluffs.
banking institutions in the City of Waterloo, having a combined
capital and surplus of $1,929,000 and aggregate deposits of about $7,500,000.
There
are
twelve chartered
manufacturing establishments, with a total of 5,000 employees and a payroll of
$3,000,000 annually, turned out products estimated at $15,000,000 in 1909. Receipts and ship¬
ments of freight in 1908 exceeded 60,000 carloads, transportation facilities being supplied by the
Illinois Central, Chicago Great Western and Chicago Rock Island & Pacific railroads.
The 120
These bonds
are
issued for the purpose
of purchasing the plant of the Waterloo Water Works
Company, and making extensions thereto. They are secured and payable by direct levy against all
the taxable property within the corporate limits of the City of Waterloo. The net earnings of the
water works company for the year ending October 31, 1909, were $34,811.20, or one and one-half times
the interest on all the water works bonds now issued, not only for the purchase of the plant, but
making extensions thereto.
MATURITIES AND PRICES AS FOLLOWS.
$25,000 January 15, 1915, at 101.68 and int.
75,000 January 15, 1920, at 103.05 and int.
$100,000 January 15, 1925, at 104.16 and int.
325,000 January 15, 1930, at 105.07 and int.
TO NET m%
Legality approved by Messrs. Shope, Zane, Busby & Weber, Attorneys, Chicago.
vance
Having sold
in price.
a
large amount of these bonds, we offer the remainder, subject to sale and ad¬
CHICAGO
The
Rookery, CHICAGO
XXIV
THE CHRONICLE
[VOL.LXXXX.
giulxXmxls.
gjtxrifljetx&s.
Bonds and Coupons
Coupons Maturing February, 1910
February 1st, 1910,
Payable at the Banking House of
Payable at the Office of
N. W. Harris St
Pin©
at the Office of
York
Central Trust Co.
of New York
Payable at
N. W. Harris &
or
Company
Street, Corner William, New
Also
Company, Boston
our
54
Chicago Correspondent
FIRST
FIRST
Pine
Chicago Rock Island
(Continued)
&
Bethany Town¬
Mich., Union School
District No. 1, Refunding (St.
Louis, Mich.)
Richmond, Mo., Refunding
Rock Falls, Ill., Electric
Light
St. Joseph, Mich., Trunk Sewer
Salt Lake & Ogden Railway Co.,
First Mortgage Gold
COUPONS
Brooklyn Union Elevated RR. Go.
First Mortgage 5%
Chicago & Eastern Illinois RR. Co.
Sinking Fund Coll. Trust 6%
Savannah, Mo.
Sterling, Ill., Imp’t; Library
Stoughton, Wis., Joint School
District No. 3, School Bldg
Sullivan County, Tenn., Road
Terrell County, Ga., Court House
Waseca. Minn., Funding
Webb City, Mo., Funding
Colorado-Utah Construction Co.
Collateral Trust Notes 6%
Electro-Metallurgical Co.
First
Mortgage 6%
Lighting Co.
First Mortgage 4%
Kings County Elevated RR. Co.
First Mortgage 4%
Metropolitan West Side Elevated RR.
Oo. (Chicago).
First Mortgage 4%
New York Elec. Light, Heat & Pow. Co.
Purchase Money 4%
Indiana
SECOND
Hamburg, la., Refunding
FIFTEENTH
Elburn, Ill., Water Works
Whatcom County, Wash., School
District No. 2 (Sehome)
SIXTEENTH
Georgetown,
Tex.,
Refunding
School House
Spirit
Lake,
la.,
& Pacific RR. Oo.
5% Bonds of 1913
Principal at 102^ and Interest to
Feb. 1st, 1910.
ships,
School Dist.No. 28, School Bldg
Cass County, la., Refunding
Chicago Railways Co., First
Mortgage Gold
Coeur d'Alene, Ida., Independent
School Dist. No. 1, Refunding
Dunkirk
&
Stoughton, Wis.,
Joint School Dist., School Bldg
Excelsior Springs, Mo., City Hall
Fort Atkinson, Wis., Water Wks
Griffin, Ga., Water
Hawaraen, la., Refunding
Ionia, Mich., City Hall
Josephine County, Ore., School
District No. 7, School Building
(Grant’s Pass)
Lena, Ill., Water Works
Lexington, Ky., Funding
Michigan State Telephone Co.,
First Mortgage
Neosho, Mo., School Building
Oshkosh Water Supply Co., Osh¬
kosh, Wis., First Mortgage
Pierce
County, Wash., School
District No. 8 (Sumner)
River
WALL STREET
BONDS
Harris Trust & Savings Bank
Aberdeen, So. Dak., Refunding;
School Building
Albany County, Wyo., School
District No. 1, Refunding
Albert Lea, Minn., Sewer
Ballard, Wash., Funding
Caldwell,
Ida.,
Independent
Maturing
New Milford Power Co.
First Mortgage 5%
Independent
School District Funding
TWENTY-FIRST
Peoria & Pekin Union Ry. Co.
Bloomington, Ill., Water & Light
First
Mortgage 6%
Ry. Co.
5% Debentures
Quotation Telegraph Co. 5%
Peoria & Pekin Union
We
February Investments
own
and offer
over
200 different issues
Stock
of carefullv selected
Sloss Iron & Steel Co.
municipal, railroad and public service corporation bonds which
we recommend
for conservative investment at
prices to yield
3Vi% to
over
t
Write for circular
First
Union
5%
offerings and booklet for
Mortgage 6%
Ry. of N. Y.
First Mortgage 5%
Wabash Railroad Co.
investors
Second
REPUBLIC
OF
CUBA
Four and One-Half Per Cent
Gold Bonds Due 1949.
(External Loan.)
Coupons due February 1, 1910, of the above
Bonds will
n
be paid on presentation at
and after that date.
our
office
SPEYER & CO.,
24-26 PINE
New York,
UNITED
STREET.
January 29, 1910.
STATES
STEEL
CORPORATION.
Dividend No. 25 of 1% on the Common
Stock,
for the quarter ending Dec.
31, 1909, and also
an extra dividend of
H of 1% on the Common
Stock from the earnings of 1909
were declared
Jan. 25, payable March 30, to
stockholders of
record Maroh 15.
Transfer books close at 3 P.
M.,
March 15, and re-open at 10 A. M.
April 19.
RICHARD TRIMBLE, Secretary.
UNITED STATES STEEL
CORPORATION.
Quarterly dividend No. 35 of 1
on the Pre¬
ferred Stock, payable Feb.
28, 1910, was de¬
clared Jan. 25 to stockholders of
record Feb. 3.
Transfer books close at 3 P. M. Feb. 3
and re-open
at 10 A. M. March 1.
RICHARD TRIMBLE,
Secretary.
Office of the CONSOLIDATION COAL
COMPANY
Baltimore, Md., January 15th, 1910.
The Board of Directors have declared
the regu¬
lar quarterly dividend of one and one-half
per cent
its Capital Stock, payable
January 31st, 1910,
to the Stockholders of record at the
close of busi¬
ness January 22nd, 1910.
The transfer books will be closed at
12:00
o’clock noon January 22nd, 1910, and
re-opened
at 10:00 o'clock a. m.
February 1st. 1910.
Dividend checks will be mailed.
T. K. STUART, Treasurer.
on
Mortgage 5%
Wheeling & Lake Erie Ry. Co.
Extension & Improv. Mtge. 5%
Office of
H. M. BYLLESBY & COMPANY.
Engineers—Managers.
CHICAGO.
San
The Board of Directors of the
Dae 15th.
Diego Consolidated Qas & Elec. Oo.
has declared
a
quarterly dividend of One and
Three-Quarters Per Cent upon the Preferred
Stock of this Company,
payable by check Janu¬
15th, 1910, to stockholders of record as of
the close of business December
31st, 1909.
The Preferred Stock books will be closed on
December 31st, 1909, and
re-open on Janu¬
ary 11th, 1910.
R. J. GRAF, Assistant Secretary.
ary
Office of
H. M. BYLLESBY & COMPANY.
Engineers—Managers.
CHICAGO.
The Board of Directors of the
Oklahoma Gas & Electric Company
declared a
has
quarterly dividend of One
and
Three-Quarters Per Cent upon the Preferred
Stock of this
Company, payable by check Janu¬
ary
15th, 1910, to stockholders of record at the
close of business December
31st, 1909.
The Preferred Stock books
will be closed on
December 31st, 1909, and will
re-open
od
January 11th, 1910.
R. J. GRAF, Assistant
Secretary.
J. Q. WHITE &
COMPANY. Incorporated,
En gineers—Con tractors.
43-49 Exchange Place,
New York, N. Y.
The regular quarterly
dividend (27th quarter)
of One and One-Half Per
Cent has been declared
on the Preferred
Stock of this Company, payable
February 1, 1910, to stockholders of record Jan¬
uary 22,1910
H. S. COLLETTE,
.
Secretary.
New York
Chicago & St. Louis
Equipment Trust 5%
OENERAL CHEMICAL COMPANY.
25 Broad Street, New York, Jan.
28, 1910.
The Directors have this day
declared a divi¬
dend Of ONE AND ONE-QUARTER
(1 H%)
PER CENT upon the Common
stock, payable
March 1, 1910, to stockholders of
recora at the
close of business February 21, 1910.
The Directors also declared an extra
dividend
upon the Common stock of TEN
(10%) PER
CENT, payable after March 15, 1910, in the Com¬
mon stock of the
company at par to stockholders
of record at close of business
21, 1910.
This action was taken in view February
of the fact that for
the years 1904 and
1905, while the company
earned Its usual dividends, for
prudential reasons
no dividend was paid on
the Common stock for
those years.
JAMES L. MORGAN, Treasurer.
THE PULLMAN COMPANY.
Dividend No. 172
A quarterly dividend of Two
Dollars per share
from net earnings will be
paid
to stockholders of record at February 15, 1910.
close of
January 31, 1910.
Checks will be mailed.
A. S. WEINSHEIMER,
Chicago; January 20,1910,
business
Secretary.
Jan. 29
THE CHRONICLE
1910.]
glvi&zn&B.
XXV
Htttaticial.
WVWWWWW/iA/VWWWVS/VWVWVV
WINSLOW, LANIER & CO.
59 CEDAR STREET.
NEW YORK.
THE
FOLLOWING COUPONS AND
$1,500,000
DIVI¬
DENDS ARE PAYABLE AT OUR BANKING
AFTER
FEBRUARY 1ST
American Cotton OH Co. 4 H Debentures
Cambridge City, Indiana, Funding Bonds
Cleveland Akron & Columbus Ry. Co. Cons.
Mtge. 4s
Cleveland & Pittsburgh RR. Co. Gen. Mtge.
HOUSE
ON
AND
St. Louis
Series “D”
Grant County, Indiana,
Gas City, Indiana
Massillon & Cleveland
dend 2%
Springfield
Railroad
& Peoria
Gravel Road 6s
RR. Co. quarterly divi¬
Pittsburgh Ft. Wayne & Chicago Ry. Co. 1st
1st Si Ref.
Mtge. 7s, Series “B”
Pittsburgh Ft. Wayne & Chicago Ry. Co 2d
Mtge. 7s, Series “H”
Portsmouth, Ohio, Street Improvement Bonds
Wheeling Terminal Railway Co. 1st Mtge. 4s
5% Gold Bonds
Due December 1,1939. Guaranteed
by Illinois Traction Co.
FEBRUARY 15
Grant County, Indiana, Gravel Road 6s
An electric railroad of
THE ATCHISON TOPEKA & SANTA FE
RAILWAY COMPANY.
New York, January 5, 1910.
The Board of Directors has declared a dividend
(being dividend No. 19) on the COMMON STOCK
of this Company of ONE DOLLAR AND FIFTY
CENTS ($1 50) per share, payable March 1, 1910,
out of surplus net Income, to holders of said
COMMON Stock registered on the books of the
Company at the close of business on February 7,
Mo.,
and
Springfield, Ill.
replacement value is double bonded debt.
1910.
are
Dividend cheques will be mailed to holders of
COMMON Stock who file suitable orders therefor
at this office.
C. K. COOPER, Assistant Treasurer,
5 Nassau
St. Louis,
operating
construction
steam railroad laws of Illinois
principally under the
between
modern
Cash
Net earnings
1% times interest charges.
Interest
Price 99 and
Street, New York City.
CLEVELAND CINCINNATI CHICAGO &
ST. LOUIS RY. CO.
•
Grand Central Station, N. Y., Jan. 24,1910.
The Board of Directors of this Company have
declared a dividend of TWO PER CENT on the
Common Capital Stock, payable at the office of
Messrs. J. P. Morgan & Co., New York, on
March 1st, 1910, to stockholders of record at
three o’clock p. m. on Monday, February 7th,
1910.
CHARLES F. COX, Treasurer.
N. W. HALSEY & CO.
BANKERS
LOUISVILLE
INDIANAPOLIS &
•RAILWAY COMPANY.
No. 52 Broadway, New York, January 24, 1910.
Coupons of the First Mortgage Bonds of the
Chicago & Indianapolis Division of the Louisville
New Albany & Chicago Railway Company, due
February 1st, 1910, will be paid at the office of
Messrs. J. P. Morgan & Co., 23 Wall Street,
CHICAGO
49 Wall Street, New York
Having sold the bonds, this
New York.
J.
A. HILTON, Secretary.
is
published
as
a
San Francisco
Chicago
Philadelphia
advertisement
matter of record
BUFFALO ROCHESTER & PITTSBURGH
RAILWAY COMPANY.
Dividends at the rate of THREE PER CENT
on the preferred stock and of TWO PER CENT
on the common stock of this Company have been
declared, payable February 15th next to stock¬
holders of record February 7th, 1910.
Checks
will be mailed to stockholders.
ERNEST ISELIN, Secretary.
New York, January 28, 1910.
NEW ORLEANS GREAT NORTHERN
RAILROAD CO.
First Mortgage Five Per Cent Gold Bonds.
Coupon No. 9, due February 1, 1910, will be
paid at maturity at the office of
FISK & ROBINSON. 35 Cedar St., New York.
F. A.
LEHR, Treasurer.
MINNEAPOLIS & ST. LOUIS RAILROAD CO.
Coupons due February 1, 1910, from Minneapo¬
lis & St. Louis RR. Co. Five Per Cent gold notes
will be paid on and after that date at the com¬
pany’s office, 25 Broad Street, New York.
F.
LAKE
SHORE
hicago Milwaukee & St. Paul Railway Company.
42 Broadway, N. Y., January 27, 1910.
Notice Is hereby given that there has been delared a dividend of Three Dollars and Fifty Cents
er share on the Preferred Stock, and a dividend
t Three Dollars and Fifty Cents per share on the
ommon Stock of the Company, to stockholders
f record at 3 o’clock, on the 10th day of February
ext,
EW YORK CHICAGO & ST. LOUIS RY. CO.
Grand Central Station, N. Y., Jan. 20, 1910.
The Board of Directors of this Company have
jelared dividends of FIVE PER CENT on the
Irst Preferred, FIVE PER CENT on the Second
referred and THREE PER CENT on the
jmmon Capital Stock, payable at this office
arch 1st, 1910, to stockholders of record at
tree o’clock p. m., on Friday, February 18th,
SOUTHERN
Notice is hereby given that the THREE-YEAR
FIVE PER CENT GOLD NOTES of this Com¬
Office, Grand Central Station.
New York, January 19th, 1910.
Notice Is hereby given that the five per cent
Three-Year Gold Notes of this Company maturing
February 1, 1910, will be paid at this office on
and after that date.
Coupons should be detached
and presented separately.
Checks for Interest on
Registered Notes will be mailed as usual.
EDWARD L. ROSSITER, Treasurer.
MICHIGAN CENTRAL RAILROAD CO.
Office of the Treasurer,
Room 219, Grand Central Station,
New York, January 18, 1910.
Notice Is hereby given that the THREE-YEAR
FIVE PER CENT GOLD NOTES of this Com¬
pany, maturing February 1st, 1910, will be paid
at this office on and after that date.
Coupons
should be detached and* presented separately.
Checks foF Interest on registered notes will be
mailed as usual.
CHARLES F. COX, Treasurer
&
CO
BANKERS
NEW YORK
31 NASSAU STREET
FOURTEENTH STREET BANE
New York,
NEW YORK CENTRAL & HUDSON
RIVER RAILROAD COMPANY.
M. GRANT
Forty=First Dividend
for Interest on registered notes will be
usual.
CHARLES F. COX, Treasurer.
as
Treasurer’s
R.
by Counties, Cities, Towns
and Boroughs.
CHARLES F. COX, Treasurer.
no
pany, maturing February 1st, 1910, will be paid
at this office on and after that date.
Coupons
should be detached and presented separately.
_
Issued
Chairman of the Board.
Office of the Treasurer,
Room 219, Grand Central Station,
New York, January 18, 1910.
Checks
mailed
of the
MUNICIPAL BONDS
ompany,
H. DAVIS, Treasurer.
MICHIGAN
&
RY. CO.
payable March 1st, at the office
in the City of New York.
ROSWELL MILLER,
We Own and Offer
January 25th, 1910.
have this day declared
PER CENT (3%), free of
The Board of Directors
a
dividend of THREE
tax, payable February 1st, 1910, to stockholders
of record January 28th, 1910.
LOUIS V. ENNIS, Cashier.
NINETEENTH WARD BANK
New
WANTED.—BOND
MAN,
STATISTICIAN.
SPECIALIST IN MUNICIPALS, WISHES MAN¬
AGEMENT
OF
BOND
DEPARTMENT
OR
BRANCH OFFICE. ADDRESS. A. B., “CHRON¬
ICLE,” 513 MONADNOCK BLOCK. CHICAGO.
ILL.
rwru.
York, January
January 19,
i», 1910.
The directors have this day declared monthly
vidend No. 43 of One and One-Quarter (1 H%)
,r cent, payable January 31,
1910, to stockilders of record January 27, 1910.
JOHN N*. VAN PELT, Cashier.
WANTED
We will pay good
prices for complete list of
stockholders of first-class gas and electric light,
BARDELEBEN COAL & IRON CO.
power, railway, telephone and industrial corpo¬
Six Per Cent First Mortgage Gold Bonds due rations located in Central and Western United
Replies held confidential.
February 1st, 1910, will be paid at maturity, on States and Canada.
DE
& Railroad
1701
Building,
71
fresentatlon
at theCo.,
office
of Empire
the Tennessee
Coal,
ron
Broadway, New York.
L. T. BEECHER, Treasurer.
R. H. G00DELL & CO.
122 Monroe St..
CHICAGO.
XXVI
THE
CHRONICLE
[VOL.
LXXXX
fPttattjcial.
60th Annual Statement
OF THE
JEtna Life Insurance
HARTFORD, CONNECTICUT,
MORGAN G. BULKELEY, President
Company
Life, Accident, Health and Liability Insurance
JANUARY 1, 1910.
ASSETS.
Real Estate acquired by foreclosure
*
$108,832 63
Office Building
500,000 00
Cash on hand and in Banks
4,400,439 77
Stocks and Bonds
30,559,665 78
Mortgages secured by Real Estate
47,373,263 55
Loans on Collateral-1,231,104 84
Loans secured by policies of this
Company
7,806,675 97
Interest due and accrued December
31, 1909
1,786,031
24
Premiums in course of collection and Deferred
Premiums 1,446,485 72
Market Value of Securities over
cost, less Assets not
admitted.
2,015,108 49
LIABILITIES.
Reserve on Life, Endowment
and Term Policies
Special Reserve, not included above
Premiums paid in advance and other
Liabilities
Unearned Interest on Policy Loans
Accrued Taxes.
reserved for special class of
Policies and divi¬
dends to Policyholders
payable on Demand
Losses and claims
awaiting proof and not yet due
Unearned Premiums on
Accident, Health and Liability
$97,227,607 99
to
$16,174,922 52
4,412,333 08
in
in
in
in
in
2,086,209 44
1,343,500 00
9,672,458 21
Policyholders
Total Liabilities
97,227,607 99
DISBURSEMENTS.
Payments to Policyholders
$11,337,101 34
Taxes
All other
Total Income in 1909
$20,687,255 60
490,255 48
Disbursements
4,556,139 18
Total Disbursements In 1909
$16,383,496 00
GAINS DURING 1909.
Premium Income
Total Income
_
Surplus
$721,994
1,307,615
1,903,267
5,102,983
13,858,006
293,523,233
194,440,420
,
Assets
Life Insurance in Force
Total Life Insurance in Force Dec.
31, 1909
Total paid policyholders since
organisation in 1850
„
The Mutual Benefit Life Insurance
of
1845
00
60
78
98
979,906 54
457,693 44
Insurance
Reserve for Liability Claims
INCOME.
Premiums
Interest, Rents, etc
Increase
Increase
Increase
Increase
Increase
592,290
511,955
208,303
484,173
Surplus
Surplus
Total Assets
$80,891,117 00
69
20
17
29
12
00
28
Company
NEWARK, NEW JERSEY.
FREDERICK FRELINGHUYSEN, President.
1910
TRANSACTIONS OF 1909.
INCOME.
Premiums.
Interest and Rents
Profit and Loss (Balance)
$18,310,730
49
$5,639,691 24
1,688,690 68
Endowments
Annuities
Surrendered Policies
Dividends
$24,119,871
Supplementary Policy Claims.
DISBURSEMENTS.
Death Claims
5,761,397 95
47,743 52
96
352,161 09
Total Paid
183,014 71
-
2,395,285 41
2,556,973 41
Policyholders
$12,463,655 45
Taxes, Fees and Licenses
:.
Insurance Expenses (excluding Taxes)
Investment Expenses (excluding Taxes)
Premiums on Bonds Purchased..
$24,472,033
Excess of Income
.
—
_
over Disbursements added
ASSETS.
Cash on Hand and in
Banks
Loans on CoUateral
Bonds, Par Value
Real Estate Mortgages.
Real Estate
Loans on Policies
Interest due and accrued and other
assets
„
-
-
„
t
„
to
Reserve Fund
Other Liabilities
Reserve for Suspended Mortality.
Regular Dividends Payable in 1910
Special Dividends Payable In 1910
2.551.100 00
71
50
35
96
71
$128,986,850
28
$8,350,413 73
-
LIABILITIES.
$1,380,988 05
-
$16,121,619 32
Policyholders Fund
35,152,840
60,326,366
3,248,548
22,401,477
3,925,528
127,822 23
Total
05
$116,071,906 00
2,849,650 76
...
1,683,625 00
2,876,506 83
675,000 00
4,830,161 69
Unapportioned Surplus (Par Values)..
$128,986,850 28
Total Assets
Unapportioned Surplus (Market Values)..
$5,655,462 18
INSURANCE ACCOUNT.
issued and Revived in 1909
in force December 31, 1909
jncrease in insurance in force during
73
$15,993,797 09
Supplementary PoUcy Claims.
L Total
„
$490,806
2,719,795 82
245,093 66
74,445 94
27,878
215,615
12,822
year
Policies, Insuring
“
"
“
“
-
$67,634,399 00
507,224,076 00
32,935,318 00
Paid to and Invested for Policyholders
in 1909, in excess of
Premiums Paid by Policyholders, $2,763,713.13.
The expenses incurred in
obtaining the new insurance of the year
amounted to only 81 per cent, and the Total
per cent of the amount allowed
Insurance Expenses to only 7P
by the insurance law of the State of
New York.
Net Rate of Interest Earned on
Invested Assets (Par Values):
1906, 4.6%; 1907, 4.7%; 1908, 4.7%; 1909, 4.7%,
A full report of the year’s
business will be mailed upon request
to the Home Office or to any agent.
Amzi Dodd,
Edward H. Wright,
Marcus L. Ward,
Fred’k M.
Shepard,
Fred’k Frelinghuysen,
Albert B. Cart ton.
L. A. Cerf, Metropolitan
Manager
Day & Cornish, General Agents for Northeastern
New Jersey
Arthur J. Birdseye, General Agent for
Connecticut
DIRECTORS.
Edward L. Dobbins,
J. William Clark.
John O. H. Pitney,
137
John R. Hardin,
Peter Campbell,
William M. Johnson.
Broadway* New York City, and 189 Montague St..
Brooklyn*
Union Building. Newark, N. J.
First National Bank Building, Hartford, Conn.
THE CHRONICLE
Jan. 29 1910.1
xxvn
fPittatieial.
y>V‘i^n“r***^M***^*<*^*A^^,*^A^^^^^w^^^w^^^^^^^^^^^^^^^^<^*<*A**^^*^^a**a**********aA*****a******^****lVllVl*«Vl)%VMV»VlV*A,WV
Attractive Investment
We
ties
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Offerings
offering two new issues of sound investment securi¬
presenting the following specially attractive features:
are
FIRST MORTGAGE RAILROAD BONDS
To pay fc
SECURED SHORT-TERM NOTES
34%
To pay
6%
(1) Being a first mortgage bond of a standard steam rail¬
Free of Tax in Pennsylvania.
road, it has a wide and active market and can be readily
sold at any time.
(1) They can be sold at any time, and are readily accepted
(2) The bond has been largely purchased by investors
and banks in the city where the mortgaged property is by Banks as collateral for loans.
located, showing local faith in the security by those having
(2) Assets available three times amount necessary to pay
the best opportunities for judging its merits.
entire issue.
(3) An albsolute first mortgage on property which inde¬
(3) Company is now a large earner and earnings steadily
pendent appraisers selected by us value at 25% in excess of
outstanding bonds. This is its real estate value only, and increasing.
does not consider its added value as railroad terminals.
(4) Business of Company established more than fifty years
and uniformly successful.
Other
appraisers, who considered its peculiar value to
railroads, appraise it at 1 % times outstanding bonds.
It is the only railroad bond now being offered which affords
the investor these substantial and reliable proofs of the value
of the security which is behind his investment.
(4) The property affords two railroads their only entrance
to, and terminals in the heart of, a growing city of 225,000
inhabitants served by ten railroads.
(5) It forms the last available entrance for railroads to
the city.
ago
(5) Management in hands of a coterie of men of large
experience and thorough training, concededly as able as
any in this country or Europe.
(6) Industry in which Company is engaged is one of the
oldest known, and its finished product is the basis of more
other manufactures than the finished product of any other
industry.
Neither of the above securities is the obligation
of
a
corporation
engaged in untried industries
OFFICIAL STATEMENTS
BOTH ISSUES SENT
DESCRIBING
ON BEQUEST.
PLYMPTON, GARDINER & GO.
BANKERS
232 La Salle St.. CHICAGO
54 Old Broad St., LONDON, E. C.
27 William St.. NEW YORK
Members New York and Chicago Stock Exchanges.
THE HOME INSURANCE COMPANY
OFFICE: NO. 56 CEDAR STREET
NEW YORK
One Hundred and Thirteenth Semi-Annual Statement
SUMMARY OF ASSETS.
Par Value. Market Value.
Gash in Banks and Trust Companies
$1,552,444 43
Real Estate
1,543,892 06
United States Bonds_
433,750 00
$385,000 00
State and City Bonds
5,558,333 33 5,477,833 33
Railroad Bonds
6,308,000 00 6,124,430 00
Miscellaneous Bonds
760,000 00
900,000 00
Railroad Stocks
6,806,000 00 8,071,275 00
Miscellaneous Stocks
1,150,000 00 1,682,000 00
Bank and Trust Go. Stocks
427,800 00
125,000 00
Bonds and Mortgages, being 1st lien on Real
Estate
69,800 00
Premiums uncollected, in course of transmis¬
sion and in hands of Agents
1,264,447 46
..
_
January, 1910
LIABILITIES.
Gash
$3,000,000 00*
Capital
Reserve
Reserve
Reserve
Reserve
Reserve
Premium Fund
for Losses
for Re-Insurance,
for Taxes
as a
10,244,415
958,639
and other claims.
621,780
100,000
Conflagration Surplus
1,200,000
.
as
$27,307,672 28
regards policy-holders,
$15,382,836 86
-
DIRECTORS.
LEVI P.
MORTON,
CORNELIUS N. BLISS,
ELBRIDGE G. SNOW,
GEORGE
H. HARTFORD
H. FLAGLER,
HENRY F. NOYES,
JOHN
LUCIEN C. WARNER
JOHN CLAFLIN.
EMANUEL H. A. CORREA,
SAMUEL D. STYLES,
CORD MEYER,
WILLIAM D. BALDWIN.
LEVI C.‘ WEIR,
ELBRIDGE G. SNOW, President.
EMANUEL H. A. CORREA, Vice-President.
FREDERIC G. BUSWELL, Vice-President.
CLARENCE A. LUDLUM, Ass’t Secretary.
New York, January 11, 1910
00*
Surplus over contingencies and all liabilities
including capital
11,182,836 96*
$27,307,672 28
^Surplus
00
76
66
00
AREUNAH M. BURTIS, Secretary.
OHARLES L. TYNER, Secretary.
HENRY J. FERRIS, Ass’t Secretary
XXVIII
THE CHRONICLE
[Vol.
LXXXX.
fgltxauxial.
Security of INVESTMENT
flFor the investor the first test of any particular bond is not
the security behind it, but the reputation and record of the
house
behind it. The first principle of a reputable investment
banking
house is to safeguard the interests of its clients. There is no
other
business in which a reputation gained in this
Invest with
Reputable
Bankers.
way
No
is
a greater
reputable banking house will sell a bond which it
will not back with its own reputation—which that
house has
not thoroughly investigated with its own
experts, and purchased
asset.
for its
own account.
Principal and flThe success
of J. S. & W. S. Kuhn, Incorporated, in the invest¬
field is conspicuous. Since the organization of this com¬
promptly.
pany there never has been a single day’s delay in the
payment of
either principal or interest on any bondithas sold. This
means that,
not only has there been no loss to
any client, but that every inter¬
est and principal payment has been made the
instant it was due.
Practical
flThis enviable record has been made possible
by an experience
Exp erience of over a
quarter
of
a
century in the financing necessary to, and
Essential.
the actual construction and successful
operation of, many forms
of public utilities.
Every precaution we have taken to insure
ourselves against loss has been a protection to our clients.
Opportunities We direct the attention of conservative investors to our
extended
for
list
of
Water
Works, Coal, Railway, Municipal and Irrigation
Conservative
Investment. Securities particularly.
These bonds yield from 4 to 6%, and
afford an excellent opportunity for the investment of
any sum
amounting to $100 or more, with assured safety. We will
be pleased to advise with those
desiring further information.
Write our Department 4.
’
Interest paid
ment
We Are
Selling the Securities of the
Enterprises, Public or Private, in
J. S. & W. S.
Two Largest Irrigation
the United States
KUHN, Inc.
Investment Bankers
Bank for
Savings Building, PITTSBURGH, PA.
CHICAGO First National Bank Bldg.
PHILADELPHIA, Real Estate Trust Bldg.
NEW YORK, 37 Wall Street
BOSTON, John Hancock Bldg.
,
Guaranteed Irrigation Bonds.
Public Utility Bonds.
Guaranteed Water Works Bonds.
Municipal Bonds.
a
(
Bank &
Quotation Section
Railway Earnings Section
VOL. 90.
Railway & Industrial Section
Electric
Bankers’ Convention Section
State
SATURDAY, JANUARY 29 1910.
Clearings at—
1910.
PUBLISHED WEEKLY.
Terms of
Subscription—Payable in Advance
For One Year
For Six Months
6 00
13 00
7 50
£2 14s.
European Subscription (including postage)
European Subscription six months (including postage)
Annual Subscription in London (including p< stage)
Six Months Subscription in London (including postage)
Canadian Subscription (including postage)
£1 11s.
$11 50
Subscription includes following Supplements—
l STATE and City (semi-annually)
' Electric Railway (3 times yearly)
j Bankers’ Convention (yearly)
B \NK AND QUOTATION (monthly)
Railway and Industrial (quarterly)
Railway Earnings (monthly)
Advertising—Per Inch Space
Transient matter per
inch space (14 agate lines).
$4 20
( Two Months
(8 times)
22 00
Three Months (13 times)
20 00
Standing Business Cards
Six Months
(26 times)
50 00
Twelve Months (52 times)
87 00
CHICAGO OFFICE—P. Bartlett, 513 Monadnock Block; Tel. Harrison 4012.
LONDON OFFICE—Edwards & Smith, 1 Drapers’ Gardens, E. C.
WILLIAM
P. O. Box 958.
B. DANA
COMPANY, Publishers,
Front, Pine and Depeyster Sts.,
New York,
CLEARING-HOUSE RETURNS.
■
1910.
1909.
$1,510,940,388
Louis
New Orleans
$2,019,413,777
150,903,518
124,783,262
26,197,523
232,090,989
57,706,765
IS,529.Q67
Seven cities, 5 days
Other cities, 5 days
$2,629,624,901
500,411,294
$2,035,573,436
395,492,718
-j- 26,5
Total all cities, 5 days
All cities, 1 day
S3,130,036,195
650,489.963
S2,431,066,154
505,403,714
+ 28.8
+ 28.7
New York
Boston
_
Philadelphia
Baltimore
Chicago
_
St.
Total all cities for ewek
$3,780,526,158
•%
123,374,620
98,128,331
22,826,871
209,926,419
53,992,814
16,383,993
$2,936,469,868
+
+
+
+
+
33.7
22.3
27.2
14.8
10.5
+6.9
+ 13.1
+ 29.2
+ 28.8
The full details for the week covered by the above will be given next Sat¬
We cannot furnish them to-day, clearings being made up by the
clearing houses at noon on Saturday, and hence In the above the last day of
the week has to be in all cases estimated, as we go to press Friday night.
We present below detailed figures for the week ending with Saturday
noon, Jan. 22, for four years.
urday.
Week ending January
Clearings at—
1910.
1909.
$
New York
Philadelphia
Pittsburgh
Baltimore
Buffalo
1
Albany
Washington
^
Rochester
Scranton
.
Syracuse
Reading.
Wilmington
Wilkes-Barre
...
Wheeling
Harrisburg
Trenton
York
Erie
Chester
Greensburg
Binghamton
....
Altoona
Franklin
.......
Springfield.
Portland
Worcester
Fall River
New Bedford
Lowell
..
...
Holyoke..
Total New
Eng.
$
*
2.116,486,486
214,234,147
9,555,700
4,798,412
3,028,493
2,500,000
1,835,628
2.418,780
1,341,086
1,203,186
531,080
666,628
179,321,494
7,559,300
242.113,140
200,659.019
22.
1907.
190S.
+ 48.3 1,765,966,374
3,183,673
2.727,582
2,203,556
1,428,440
1,455,684
1,084,780
805,843
460,492
428,175
>
_
—
Indianapolis
Columbus
Toledo
Peoria
Grand Rapids
Dayton
..
_
Evansville
Youngstown
Kalamazoo
Fort Wayne
Springfield, Ill
Lexington
..
Akron
Rockford
Canton
Quincy
South Bend
Springfield, O
Bloomington.
...
Decatur
Jackson..
Jacksonville
Danville.
Ann Arbor.
Tot. Mid.West.
San Francisco
Los Angeles
Seattle
Portland
Spokane
Salt Lake City
Tacoma
Oakland
Helena
Sacramento
San Diego
Fresno
Stockton
San Jose
.
Billings
North Yakima
Pasadena
..
Total Pacific..
Kansas
City
Minneapolis
Omaha.
St. Paul..
Denver
St. Joseph.
Des Moines
Sioux
City
Wichita
Lincoln
...
Topeka
DavenportCedar Rapids
Colorado Springs
S
$
%
+ 51.2 1,548,455,S59 2,0S3,701,691
+ 30.3
144,000,586
113,718,239
+ 23.0
56,511,253
45,991,667
+ 17.1
24.76S.989
27,996,781
+ 13.7
8,082,726
7,540,924
+ 20.8
6,716,035
4,665,483
+ 18.6
5,699,077
4,762,066
3,125,943
+ 25.2
3,255,297
+ 13.1
2,248,724
2,171,917
+ 27.4
1,907,094
1.S45.611
1,406,547
+ 29.1
1,105,834
1,366,484
+ 28.0
1,099,051
+ 8.8
1,146,840
1,242,713
+ 14.3
933,493
1,137,402
+ 2.0
1,000,000
818,610
+ 6.6
+ 14.0
724,821
554,077
+ 39.7
521,033
515,473
+ 42.6
471,821
516,969
+ 41.9
446,348
+ 19.4
466,300
475,800
+ 28.7
503,664
233,797
+ 6.9
252,725
2,839,550,277 1.878,518,533
163,351.524
125,322,073
52,511,32S
42,706,661
32,464,722
27,715,133
13,492,302
11,863,622
6,590,008
5,456,241
7,324,024
6,176,942
4,477,812
3,576,562
2,669,869
2,359,681
2,661,166
2.0S8.742
1,590,583
1,232,260
1.532,258
1,197,641
1,287,914
1,184,163
1,604,567
1,403,754
1,095,000
1,073,883
1,398,538
1,311,033
803,599
704,739
872,615
624,605
663.455
465,003
646,988
455,714
537.550
450,000
458,419
356,182
260.000
243,319
Total Middle.. 3,137,844,518
Boston
Providence
Hartford
New Haven
Inc. or
Dec.
Cincinnati
Cleveland
Detroit.
Milwaukee
Adrian
Lima
The following table, made up by telegraph, &c., indicates that the total
bank clearings of all clearing houses of the United States for week ending
Jan. 29 have been $3,780,526,158, against $4,241,362,802 last week and
Telegraph—Week end. Jan.29.
Chicago
Mansfield.
Published every Saturday morninx by WILLIAM B. DANA COMPANY
William B. Dana, President; Jacob Seibert Jr., Vice-Pres. and Sec.: Arnold
G. Dana, Treas. Addresses ot all,Office of the Company.
$2,936,469,868 the week last year.
2,348.139,390
+ 19.5
+ 26.4
+ 50.7
+ 11.0
+ 13.5
+ 28.5
+ 66.2
+ 23.7
+ 49.4
+ 15.4
+ 55.7
149,881,204
6,487,100
2,775,372
2.356,366
1.851,729
1,555,965
1,480,046
996,802
692,159
462,096
414,526
179,246,687
8,120,500
3,112,382
2,272,405
+ 20.7
168,953,365
200.544,661
.
1909.
$
$10 00
Terms of
NO. 2327.
Week ending January 22.
’gkz (Thtcmicle.
Returns by
Railway Section
and City Section
1,696,598
1,623,985
1,566,448
1,211,685
755,027
491,050
447,894
Pueblo
Fremont
Fargo
.
Sioux Falls
Duluth
Tot. oth.West.
St. Louis
New Orleans
Louisville
Houston
Galveston
Richmond
Memphis
Atlanta
Fort Worth
Savannah
Nashville
1
Norfolk
Birmingham
Augusta
Little Rock
Jacksonville
Knoxville
Charleston
Mobile
.
.
Chattanooga
Oklahoma
Macon
.
Austin
Beaumont
.
Vicksburg
Wilmington,N.C.
Jackson
Meridian
».
Total Southern
$
Inc. or
Dec.
$
%
278,778,516
27,514,300
19,642.572
17,933,927
12,055,103
10,028,993
6,996,300
4,832,098
3,394,575
3,0S7,207
2,150,107
1,964,378
970,913
1,368,062
1,125,996
1,024,124
1,169,822
858,000
671,893
965,331
654,345
525,000
559,368
443,988
665,347
387,397
415,138
207,545
501,750
210,094
18,995
389,059
267,632,113
30,191,350
17,725,243
14,246,466
11,458,126
9,234,625
6,069,300
4,498,681
3,040,296
2,411,237
1,752,741
2,012,285
781,843
1,097,634
813,207
988,952
787,942
519,307
429,246
488,124
338,028
453,230
437,764
300,000
238,292
326,347
149,572
27,263
306,444
+ 4.2
—8.9
+ 10.8
+ 25.9
+ 5.2
+ 8.6
+ 15.3
+ 7.4
+ 11.6
+ 28.0
+ 22.7
—2.4
+ 24.2
+ 24.7
+ 38.4
+ 3.6
+ 70.4
+ 2.1
+ 11.4
+ 22.6
+ 26.0
+ 22.3
+ 14.6
+ 31.1
+ 46.8
—11.4
+ 38.4
—12.9
+ 53.7
+ 40.5
—30.3
+ 27.0
401,510,243
380,885,209
44,092,176
33,873,589
14,654,178
11,270,767
12,097,716
7,620,274
9,241,710
6,138,076
4,554,850
3,216,485
7,529,228
6,125,035
5,708,721
4,256,611
2,236,676
1,607,894
889,928
856,875
1,166,342
814,410
1,021,000
800,000
665,404
503,722
577,108
430,386
460,695
392,987
168,191
148,028
463,031
320,236
830,000 Not Included
686,374
840,000
603,177
1908.
1907.
$
229,246,540
24,901,100
16,514,295
12,876,946
10,420,847
6,477,841
5,289,400
4,170,526
2,828,510
2,030,123
1,420,146
1,573,848
633,839
894,890
771,054
741,316
797,843
540,000
572,189
394,462
453,309
360,980
347,016
346,340
447,054
431,359
259,401
222,222
266,613
95,152
23,387
290,000
231.149.236
27,345,350
15,527,381
12,647.012
10,454.047
7,855.994
5,728.400
3,673,058
2,596,011
2,275,082
2,092,009
1,703,997
1,064,451
1,029,686
815,860
+ 5.4
326,638,548
331,802,486
+ 30.2
+ 30.0
+ 58.5
+ 50.5
+ 41.6
+ 22.9
+ 34.1
+ 39.1
+ 3.9
+ 43.2
+ 27.6.
+ 32.1
+ 34.1
+ 17.2
+ 13.6
+ 44.6
34,462,231
8,905,962
6,626,703
4,822,902
2,312,211
4,481,960
3,618,881
1,423,631
633,399
759,020
700,000
47,833,578
12,434,278
7,589,618
6,230,562
2,387,420
5,575,258
4,471,416
3,281,982
603,453
•
642,227
659,953>
695,41£
646,791
410,611
388,529*
353,690
331,595
326,929
325,542
261,978
220,371
181,995
101,279
300,000
444,069
385,527
200,000
300,000
+ 34.6
69,780,496
90,707,565
55,147,234
44,179,511 + 24.8
23,128,480
15,638,537 + 47.9
16,233,798
14,460,597 + 12.3
9,849,067
—7.8
10,687,811
10,150,982
9,450,441
+ 7.4
8,650,335
6.834,525 + 26.6
3,895,381
3,170,368 + 22.4
2,374,792
—9.5
2,624,913
2,918,921
1,776,945 + 64.3
1,608,092
1,373,536 + 17.1
1,398,938
—0.8
1,409,706
1,466,570
1,266,801 + 15.8
1,229,815
986,204 + 24.7
816,440
657,509 + 24.2
706,538
551,430 + 28.1
424,939
384,047 + 16.7
887,330
642,656 + 38.1
950,000
590,000 + 61.0
4,036,329 Not Included in total
33,432,073
19,909,714
11,596,482
9,471,207
7,368,497
5,657,146
2,538,051
2,068,615
1,356,564
1,102,567
1,096,610
861,907
668,680
623,944
654,649
291,699
519,040
445,000
29,845,246
15,385,751
+21.5
99,662,445
89,269,531
74,757.677
+ 4.0
71,885,137
29,338,147
20,440,925 + 43.5
16,337,281
14,573,859 + 12.1
15,162,277
14,610,651
+ 3.8
7,618,000
7,004,500
+ 8.8
8,230,311
6,614,909 + 26.0
7.788.14S
6,104,584 + 27.0
*11,930,429
5,491,187 + 117.2
7.065,725
—1.5
7,176,643
4,227,701
4,696,489 —10.0
4,115,000
3,985,000
+3.3
2,863,842
2,775,373
+ 3.2
2,852,122
2,211,275 + 29.0
2,331,366
1,910,258 + 22.0
1,735,009
—2.2
1,774,461
2,306,574
1,613,349 + 43.0
1,769.483
1,507,250 + 10.7
2,126,352
1,480,117 + 43.7
1,633,799
1,446,645 + 12.9
1,980,677
1,454,840 + 36.2
2,086,795
1,216,957 +715
1,150,000
915,997 + 25.5
1,056,896
760,516 + 39.0
636,246
574,118 + 10.8
355,257
413,278 —14.0
605,181
378,737 + 60.0
470,000
—6.0
500.000
340,191 Not Included in total
62,243,391
20,666,018
11,588,846
10,964,604
7,970,000
5,701,271
5,004,953
5,330,174
5,281,215
4,613,129
3,989,595
2,383,614
2,077,340
2,122,777
1,558,840
1,565,000
1,679,092
1,632,170
1,431,553
1,314,793
773,327
917,423
467,244
608,889
477,231
311,014
63,619,223
23,785,673
12,291,139
14,316,126
7,900,000
7,591,265
5,479.799
6,856,064
3,447,540
6,737.546
4,027,799
2,951,774
2,559,426
2,000,902
1,472,949
1,547,383
1,531,115
1,508,559
2,088,262
1,519,550
985,873
555,000
,>
212.530,295
162,873,503
175,630,592
1105,526,954
141,837.652
78,375,375
116,665,337
in total
t
183,417,055
+ 15.9
9,946,888
7,511,798
7,537,410
5,639,267
2,645,331
2,003,295
1,078,986
1,217,811
945,793
2,423,992
516,675
781,463
548,568
398,421
449,752
393,084
457,625
400,000
Total all
4,241.362,802 3,076,488,481
+37.9 2,593,584,731 3,235.794,225
Outside N.Y..
1.401,812,525 1,196,969,950
+ 17.1 1,044.128,872 1,153,092,544
4
*
This
year's clearings considerably Increased by out-of-town clearings department.
Note.—For
Canadian clearings,
see
"Commercial and Mlascellneous News,-
262
THE CHRONICLE
“RAILWAY AND INDUSTRIAL SECTION.”
A
number of
new
Section," revised
to-day.
to
our
“Railway and Industrial
date, is sent to
our
In the editorial columns of the
found articles
subscribers
same
will be
[VOL.
LXXXX.
optimistic sentiment to the test. Interest in pig iron
for the second half of the
year has been checked and
a number of consumers who
were
expected to buy
soon
for such deliveries appear
to have retired from
the field."
the
following subjects: “Improve¬
With reference to the Steel
Corporation itself, it
Rails," “Concrete's Extending Sway" and should be stated that the
regular quarterly dividend
icGrade Crossing Elimination."
of 1% on the common stock of the
on
ment in
company
has been
declared and in addition an extra dividend of threeTHE FINANCIAL SITUATION.
quarters of 1%. This extra dividend is with a view
Industrial and financial affairs have remained under to making the
total payment out of the year’s earnings
the dominion of the fears excited by the radical 4%, the dividend for the
first quarter having been only
policies of the Federal Government. That trade one-half of 1% and for the second quarter threegenerally is sound, active and prosperous, and that quarters of 1%. After providing both for the
regular
only extraordinary and revolutionary action such as dividend and the extra dividend, and
that
making the usual
provisions for sinking funds and depreciation and
reserve funds, a
surplus remains on the operations of
the quarter of no less than
$12,451,130. Out of the
latter, special contributions of $8,200,000 are made,
leaving even then an undivided surplus of $4,251,130.
proposed in the President's special message can
cause an industrial
upset, is evident from the return
for the last quarter of 1909 made public this week
by the United States Steel Corporation. The Steel
Corporation is not only the world's greatest industrial
undertaking, but—thanks to the genius and policy
of Mr. J. P. Morgan, its creator—it is
being ad¬
327,162 remain
ministered
stock and
in
accordance
with
broad
and
sound
For the full twelve months undivided
over
principles.
$15,000,000
seek
made for additional property, new
The aim from the first has been, not to
high prices, but to maintain price stability, and
to depend for profits upon low cost of
output made
possible through large production and the employ¬
ment of mechanical facilities and
appliances of the
latest and most approved types.
Furthermore, the
iron and steel industry, wherein its activities
lie, is
the king-pin of all our industries, and progress there
means progress elsewhere in the trade world—is in
fact
a measure of the
activity generally in industrial affairs.
For many decades the iron and steel
industry has been
looked upon as a sort of mercantile
barometer, and has
in that respect proved quite a
trustworthy guide. The
very gratifying return, therefore, which the Steel
Corporation is able to make is a matter of importance,
not merely to the stockholders who are
immediately
and directly interested in the affairs of the
company,
but to the whole business public.
This Steel report tells of
progress and prosperity
and of complete recovery from the
extraordinary and
unprecedented trade prostration which existed in
1908 following the panic of 1907.
Look at the show¬
ing of net earnings. These aggregated for the Decem¬
ber quarter $40,971,309, as against
only $22,921,268
in the March quarter and
comparing with $26,246,675
in the December quarter of the
preceding year. The
amount is the largest for
any December quarter since
1906, when the aggregate was $41,750,126 (as against
$40,971,309 now) and is the largest of any quarter
of any year since the three months
immediately
preceding the panic of 1907. Look also at the volume
of
unfilled
orders
the
books of the
company.
These aggregated 5,927,021 tons December 31
1909,
against 4,796,833 tons September 30 1909 and
on
only
3,542,595 tons on March 31 1909. The amount is,
indeed, the largest aggregate of unfilled orders reported
by the company at the end of any quarter since Sep¬
tember 30 1907, which was
immediately before the
period of the panic. If, therefore, there is anything
that tends to darken the outlook for this
great industry
the cause must be sought outside the trade
itself.
Yet already we are beginning to hear of a
slackening
in the demand and the “Iron Age" in its review
of
the market is obliged to say that “the week has
put
earnings of $15,-
and above the 4% on the common
and above a special
appropriation of
over
on account
of expenditures made and to be
plants, new con¬
struction, and the discharge of capital obligations, and
also after setting aside $3,200,000 for a reserve fund to
cover advanced
mining royalties. This satisfactory
showing for the year is the more noteworthy inasmuch
as during
the first six months iron and steel prices
were
badly cut and conditions generally in the iron and
steel
industry
It is
an
were
unsatisfactory.
encouraging fact that the lowering of the
dividend rate on Jan. 1 by five of the
savings banks
of this city from 4% per annum to
3^% has proved
in no way detrimental to the banks
making the
change.
As pointed out in
our
banks which reduced the rate
issue of Dec. 18, the
are the
Bowery, the
Dry Dock, the North River and the Union Square;
and since writing at that time we have learned that the
Italian Savings Bank also cut its rate from 4 to
33^%,
making five institutions altogether. We have been
furnished with statistics which show that the sum
withdrawn from the banks mentioned did not in the
aggregate exceed one-half of the amount of their divi¬
dend declared
on
Jan.
1.
One of the institutions
actually made a small gain in deposits during the first
days of the month, the period during which
accounts would be opened or changed.
In some cases,
too, the number of accounts increased even though
deposits slightly decreased. In other words, more
accounts were opened than closed.
The result is all the
more significant as all the
remaining savings institu¬
tions continued the payment of the 4% rate, and their
customary dividend announcements, printed as ad¬
vertisements in the daily papers, served to bring the
fact prominently to public notice.
In this city, where there are so
many savings banks,
it is easy to make a change from one to
another, and
the fact that so few depositors availed of the
oppor¬
tunity in the case of the institutions that reduced the
rate is pregnant with meaning.
The depositors evi¬
dently considered that a conservative dividend was
the proper dividend for their interests. It
obviously
required considerable courage to make the move and
it is gratifying that it entailed no important loss,
ten
JAN. 29
THE CHRONICLE
1910.]
relatively speaking, in any case. Even if it had,
however, the step would nevertheless remain commend¬
able. The managers took the risk of a loss because
they felt that under existing conditions a 4% rate is
no longer warranted, having due regard for the
safety
of the institutions.
The plan of strengthening the
surplus account of these savings banks by paying
smaller dividends is undoubtedly in the line of good
banking, and now that a beginning has been made,
other savings institutions in this city and throughout
the State will doubtless adopt a similar course next
July.
To-day Richard A. McCurdy, the former President
York, is
seventy-five years of age. Mr. McCurdy is now in
of the Mutual Life Insurance Co. of New
retirement
as
result of the insurance
a
investigation,
and hence the event is not
except possibly among
friends.
It
seems
to us,
likely to be celebrated
a small circle of immediate
however, not out of place to
make due note of the fact here.
For whatever
one
think of the insurance disclosures, and however
one may view some of the acts of Mr.
McCurdy which
have been challenged, he deserves credit for what he
has accomplished in raising the Mutual Life Insurance
Co. to such a commanding position. In any broad
and comprehensive survey of life insurance as it is
known to-day, three great figures will always stand
out as giants.
These are Richard A. McCurdy of the
Mutual Life, Henry B. Hyde who founded the Equi¬
table, and John A. McCall who.. reorganized the
may
New York Life.
These three have been the leaders
in the insurance world and it is to their energy
and
foresight that the three great companies with which
they have been identified owe their growth, their de¬
velopment and their strength. Of the three Mr. Mc¬
Curdy alone survives. Mr. Hyde died before the
clouds arose in the insurance world and a heroic figure
in recognition of his services to the company may be
seen in the main hall of the
Equitable Building. Mr.
McCall died
as
a
result of the reckless calumnies that
heaped upon him during the investigations. Mr.
McCurdy has lost his hold on the company with which
his name will always remain associated, but simple
justice requires that his faults, whatever they may have
been, should not be considered of and by themselves,
but alongside of, and in connection with, his achieve¬
ments.
Thus treated the former sink into insignifi¬
cance and the latter suggest eminence.
Mr. McCurdy’s connection with the company began
in 1865 and he was elected its President in 1885, hold¬
ing the office until 1906. Not only did Mr. McCurdy
build up an immense volume of insurance for the com¬
pany, but his judgment in investing its immense funds
has resulted in enormous profits to it. If these in¬
vestments had turned out poorly, the circumstance
would certainly be cited to his discredit by his detractors.
That the reverse has been the case is, it
appears to us,
deserving of no less prominence, illustrating, as it does,
how this great life concern has prospered as the result
of his judgment and guidance—more than that, how
it is still gaining, though he is no
longer connected
with its management, from the sagacity he displayed
were
in the investments he made for it.
The matter is par¬
ticularly timely just now inasmuch as the classes of
investments, of the highest character, which he
favored have been tabooed, and in obedience to the law
263
compelling their sale the companies have been dis¬
posing of such investments as opportunity offered.
These sales furnish
an
excellent illustration of the
soundness of Mr.
McCurdy’s judgment, for the original
purchases were all made during Mr. McCurdy’s man¬
agement. We have in mind particularly the sales of
bank and trust company shares.
We have space here to cite only a few figures to show
what the company has gained from its investments in
bank and trust company stocks.
On Jan. 1 1906 the
Mutual Life held bank and trust company stocks
which had cost it in the aggregate $18,973,593.
These
shares were purchased at various dates in the past,
the Guaranty Trust Co. stock (which has now all been
disposed of) as early as 1891. In the interval between
Jan. 1 1906 and Jan. 20 1910 the company, in com¬
pliance with the new insurance law, sold a consider¬
able amount of these bank and trust company holdings;
and realized from the same the sum of $20,359,677.
But the amounts still undisposed of have a book value
of $9,838,801 and a present market value (at low
estimates) of $15,430,840. Adding this latter to the
amount realized from its sales, we get a total of $35,790,517 for what cost the company originally only
$18,973,593. There was also a profit on sales made
prior to Jan. 1 1906, of $1,965,632. In other words,
there has been a gross gain to the company from its
investments in bank and trust company stock up to
Jan. 20 1910 of $18,782,556.
The enormous profits realized from this class of in¬
vestment furnishes an excellent commentary upon the
action of the Legislature in barring the same out for the
future, but a contemplation of what an advantage
such investments have been to the Mutual Life will
doubtless afford satisfaction to Mr.
McCurdy. Pos¬
sibly also the policyholders may not think unkindly
of him, notwithstanding all that has been said deroga¬
tory to him.
has been given in the newspapers of
this past week to the agitation over the cost of food
and the progress of the meat boycott than to any other
topic except the President’s policy under the AntiTrust law.
Denunciation of trusts and alleged op¬
pression is extraordinarily rife, and is reported to have
even reached the pulpits in the
city of Baltimore, so
that the emotional spasm may be supposed to have
attained its full height.
High prices, agitation and
talk of serious investigations are reported from Canada
also.
From whatever causes, a few concessions on
meat, eggs and milk have been made; on the other
hand, retailers in the central market in Pittsburgh are
reported to have combined and made a material ad¬
vance on beef, while (to continue the tangle
apparent
in the situation) a declining tendency in prices was
reported from Philadelphia on the same day. A touch
of grotesqueness to relieve the tension is given by a
reported meeting in a Kansas town by the farmers,
who issued a declaration that the packers are behind
the boycott, and that if organized labor is going to
take up this war, the farmers will, for the first time,
unite in a boycott against labor.
A law limiting the time of food in cold storage to
thirty days has been talked of in Ohio. Apparently
the only ground upon which such an interference could
stand would be the general police powers of a State to
protect the people against articles unfit for food; but
Larger
space
264
the term of
THE CHRONICLE
[VOL.
LXXXX.
safe-keeping of perishable foods in storage consequent exhaustion; but scientific culture
can
mul¬
is not yet determined, nor is it known
exactly what tiply yield while avoiding exhaustion and can even
effects the storage system exerts
upon food prices.
A restore the “neighborhood” farmer, who, used to feed
more preposterous
proposition—and one not to be the great cities, and whose disappearance is mourned
taken seriously, although it is suggestive of
present by some as one cause of present trouble. It is de¬
tendencies—comes from an officeholder in Washing¬ clared
by a university agricultural college in Missouri
ton; whether the Government could not begin relief that cereal crops
in that State can be doubled, and in
by becoming its own producer and buyer for the large some localities have
already been. A farming con¬
supplies to the army and navy. On a large tract of tributor of the “Independent” of this
city tells of a
public land the Government would establish instruc¬ young engineer graduate of Columbia who tried his
tion farms, with a
plant of mills and abattoirs; as a profession a couple of years without getting hold, then
surplus output was produced, it could be sold to the took a neglected piece of land
along the Hudson, went
public at fair prices; this might aid in settling the trust to vegetable-raising, and in two
years was making
problem, serve as a regulator of wages and an educator more than the salary of his
professor in Columbia.
for useful occupations, and so forth.
It is a pretty This same writer says he knows of
places not 100 miles
dream.
from this city which once sent 100 carloads of
potatoes
The agitators are all at sea still in
respect to the to market, but are now importing them.
causes of high prices, and
These are a few of instances in abundance which
nobody accepts the blame.
The retailer and packer pass it
along to the grower, could be cited, yet are cumulative. It is past doubt
who indignantly hands it back; each
party in the case that what may be called a new agriculture is coming.
protests moderation in his own share, and even pro¬ The direct attention the railroads are
fesses to be in
some measure
the victim of
bestowing
other.
upon
it, and the prominence it is receiving as a subject of
But there are manifest discrepancies in the conditions institutional
study, prove that it cannot be long be¬
as asserted to exist.
If there is a deficiency of supply fore
production of food will largely increase.
when consumers refrain in some
section, the supply
will naturally be diverted
elsewhere, and they can only
France has this week suffered more
severely than
deprive themselves of their share. Accepting as at any time in almost three centuries from floods
correct the quotations which make
prices of meat lower caused by a phenomenal rise in the waters of the Seine.
in Europe than at home, it is
plain that large American While serious damage has been sustained at various
handlers will send abroad only their
surplus, to be sold points along the course of the river, the city of Paris
at lower figures,
precisely as is done with surplus in has naturally borne the brunt of the
catastrophe.
various manufactured lines; therefore, if
prices abroad Paris is almost as badly crippled to-day as it was during
are lower, and if this fact comes
by American export¬ any of its seiges. Water has inundated more than half
ing, shortage of supply cannot be the permanent cause of the entire city’s
foundations, causing building after
of high prices at home.
building to collapse, stopping nearly all traffic, and
throwing the whole place into a state of darkness and
The reported farmers’ declaration from the Kansas
confusion. Subways and sewers are bursting at vari¬
town not only hints of a
one-year’s boycott of goods ous points, historical edifices are either tottering or
produced by organized labor, but that “they will ad¬ flooded, and the
usually gay city is full of desolation.
vocate free trade along with it.”
On the same day an Hunger, too, is adding to the
sufferings of the poorer
Illinois member introduced in the House at
Washing¬ classes, owing to the price of food having been advanced
ton a bill taking off the
duty on sugar, all cereals, po¬ on account of the difficulty experienced in securing
tatoes and most
vegetables, fish, animals, and nearly fresh supplies from outside. The extraordinary con¬
all meats, fresh or preserved.
This is a long way from ditions prevailing recall
vividly to the American mind
getting a breach made in the tariff, yet it is suggestive. the
calamity that overtook San Francisco; many of
We have been accustomed to
regard the duties on the descriptions of the scene depicting the crumbling
agricultural products as a sop to the producer, for of streets and
buildings and the flight of thousands
reconciling him to tax on articles which he consumes; of homeless citizens read
very similarly to those sent
yet potatoes have been imported (in an
emergency), from San Francisco when that city’s foundations gave
and it is becoming plain that the tariff does
avail to way.
Estimates of the damage wrought vary from
exclude competition by the
great wheat areas of the $150,000,000 to twice that amount; but
obviously no
Dominion; the emergency time in coal is also still too trustworthy data can be
gathered until the floods
near to have been
forgotten. Germany is reported have subsided and a thorough
investigation is con¬
to be rejoicing that exclusion of
American meats will ducted. ‘ The following extract from a
graphic ac¬
now be easier, and of course the
question of food is count sent yesterday will furnish some idea of the
closely linked with the possible abatement of Great extent of the disaster.
Britain’s free trade policy. No
prediction is safe con¬
When the day broke over the city and the sub¬
cerning her policy or that of the United States, but it merged country surrounding it, the prospect was a
is suggestive to have attention turned
cheerless one.
A heavy rain had set in and a shift of
upon the bear¬
the
wind
north to the southwest served to
from
the
ing of the tariff upon the cost of food.
to points which had heretofore
drive
the
flood
Artificial efforts to solve the
escaped
problem of high prices its invasion. War would
hardly play such havoc.
must be futile and
transient, but the natural method of The “City of Light” has become a
city of slime, filled
increasing supply to match increasing demand can with muddy waters. Business is almost at a
standstill,
be trusted.
“Earth is so kindly there,” said
and the hotels are crowded with persons who have
Douglas fled from inundated
homes. The prices of necessaries
Jerrold about Australia, “that if
you tickle her with a
are advancing by
leaps and bounds as the paralysis
hoe she laughs with a harvest.” Such
kindliness of of
transportation facilities entering the city extends.
virgin soil brings penalties in laziness of methods and Within
the
some
city there is practically
no means
of trans-
Jan. 29
365
THE CHRONICLE
1910.]
portation. The steam tramways, which were the
only surface lines remaining after the electric cars
failed, were unable to move to-day, as the water had
entered the engine boxes. The devastation has now
v
end of the city to the
been roped off as
quays on either side, from one
other, are either inundated or have
unsafe.
'*»■
publicity that has been directed to
affairs will insure the most scrupulously
the view that the
Manchurian
fair treatment for other nations.
ment is far from
The present arrange¬
ideal, and it will be somewhat
penetrated the very heart of Paris, the gorging sewers
underneath literally blowing up the streets, while the prising if the status
area of the surface overflowed by the waters of the
Seine has been doubled to-day. Twelve of the twentyfive bridges over the river have been closed, and the
>
sur¬
can be preserved without causing
friction either between the two dominating countries
t
or
between
one or
the other of them and other nations
interested in Manchurian and Chinese trade.
Baron Komura
on
Thursday made
a
comprehensive
European bourses have remained calm during speech before the Diet, in course of which he tactfully
the whole week.
French funds will no doubt be with¬ referred to the friendly feeling existing between his
own country and foreign nations, especially Russia,
drawn from London and New York and other centres
With all these peoples
China and the United States.
for purposes of reconstruction, but the great body of
his Government was, he emphasized, on the most
French investors are most unlikely to be thrown into
cordial of terms. By diplomatic stages he led up to
a state of panic.
Cable communication with Paris
Secretary Knox’s Manchurian proposals. His utter¬
was almost completely shut off yesterday, although
in the afternoon there was a partial resumption of ances on this delicate subject are worthy of being
The
prominent American citizens are quoted verbatim:
“The Imperial Government, in view of the important
taking steps to provide relief for the French sufferers.
The subsidence of the flood is officially predicted as Japanese interests involved, and considering that the
proposal-came from a friendly Power with which the
due to-day.
Empire was on terms of close intimacy, submitted
the question to the most careful examination.
While
“A great historical occasion, opening a new era with determined to adhere scrupulously to the policy of the
the inauguration of broader principles of government,” open door and equal opportunity, it should be recog¬
nized that the realization of the proposed plan would
was Lord Minto’s description of the opening on Tues¬
involve radical changes in the condition of affairs in
day last of the new Imperial Legislative Council at Manchuria which were established by the treaties of
Calcutta, the body which has been designed, under the Portsmouth and Peking. The change must be at¬
guidance of Lord Morley, to give the native a larger tended by serious consequences. In the region af¬
share in the administration of Indian affairs. Strangely fected by the South Manchurian Railway numerous
undertakings have been promoted in the belief that
enough, the introduction of greater freedom in the the
railway would remain in our possession. As a
Indian Empire has been attended by an epidemic of
consequence, the Imperial Government, with regret,
attacks upon British statesmen and officials, a circum¬ was obliged
to announce its inability to consent to the
stance that evoked from the Viceroy an emphatic proposal.
I trust that the United States will appre¬
statement that, while the existence of genuine causes ciate our position and that the other Powers will
for dissatisfaction in certain directions is frankly equally recognize the justice of Japan’s attitude.” •
No fresh recommendations are expected to be put
recognized, anarchy and lawlessness aimed at sub¬
verting British rule and also the rule of Indian chiefs, forward by our State Department so long as circum¬
will not be tolerated, nor its advocacy in the revolu¬ stances do not demand action.
tionary press be hereafter permitted. On the day
Last night the final vote was cast in the British
following this declaration evidence was submitted at
the trial of an Indian conspirator to show that the general election, but the full returns will not be ob¬
conspiracy against the present Government in India tainable until to-day. The latest figures show:
included the establishment of an independent kingdom, Liberals, 262; Nationalists, 77; Labor, 40; a total
with a king, an imperial council, a house of princes and of 379 what might be called Ministerial members,
and 263 Unionists. These ascertained results show
a house of commons, Delhi to be the seat of govern¬
The difficulty of the problem confronting that the Government will be dependent for a working
ment.
Great Britain can thus be imagined.
Her guiding majority upon the Irish representatives, and as they
principle is to increase native freedom wherever that will insist upon a generous fulfilment of Premier As¬
freedom is legitimately exercised, but to institute quith’s pledge of Home Rule, the life of the new
effective punishment of malcontents guilty of treason¬ Cabinet may be brought to a close at any moment.
The Unionists, it is understood, will interpose no ob¬
able practices.
jections to reasonable reform of the Upper Chamber
Secretary Knox’s attempt to have the administration in order that their case may be strengthened when the
of Manchuria’s railroads placed in the hands of an next election is precipitated.
international syndicate has failed, owing to the rejec¬
King Edward will open Parliament on Feb. 15 with
tion of the plan by Russia and Japan, the two countries the usual elaborate
ceremonies.
His speech is
chiefly concerned. Their attitude does not encourage awaited with great interest, since it will sound the
any hope of fresh negotiations.
In fact, the whole keynote of the new Administration. The Premier’s
matter is accepted as closed, so unequivocal is the reply task is recognized as studded with pitfalls; if he
sent to our Government.
Certain minor points may cordially endorses the Radical leanings of certain of
conceivably be taken up, but even this is very doubtful. his colleagues, he will alienate the more conservative
Has the purpose of Secretary Knox therefore been members of his own party, while if he seeks to pacify
entirely thwarted? Various answers to this query the conservative element the other wing will revolt.
have been proffered. They range from the view that Moreover, many Liberals have scant
sympathy with
America’s action has resulted in drawing Russia and John Redmond and his propaganda, while there are
Japan together as nothing else could have done to rocks on which the Irish and Labor Parties may split.
service.
Several
266
THE
Compromise, finely balanced, will be
the Ministerialists
necessary
CHRONICLE
to keep
together long.
I general
election
[Yol.
now
parties undertook
to
arrangement—with
LXXXX.
concluding one of the political
challenge the wisdom of this
no
very
great amount of success,
Borrowing by foreign governments, which will un¬ however.
questionably be very heavy this year, has begunf
Our own Government is
showing commendable
Germany and Prussia having announced a joint loan dispatch in
arriving at agreements with those foreign
of $120,000,000 4% bonds.
Subscriptions, at 102, administrations whose attitude towards the United
will be opened this
day week. Prussia’s share will be States is unexceptionable. This week a second list
$35,000,000. That country, in common with Russia, of six countries has been drawn
up as qualified to
Germany, France and other continental nations, is receive minimum rates from
us, namely Norway,
troubled with growing expenditures without a corres¬
Sweden, Denmark, The Netherlands, Persia and
ponding increase in revenues. Discussing the Prussian Egypt. Business considerations demand
that wher¬
estimates earlier in the present month,
the Minister
of Finance calculated the revenue for the financial
year
1910 at about $959,350,000 and the
expenditure at
$982,350,000, showing an estimated deficit of $23,000,000 to be provided
by borrowing. The deficit for
1909 he put at fully
$26,000,000, which, however, was
a decided
improvement as compared with the 1908
shortage of $50,525,000.
The British Government,
of course, continues to
apply to the money market for large sums in order to
meet current expenses, which
naturally are much in
excess of the diminished
receipts at the Treasury under
the existing disorganization of tax collections. Fortu¬
nately, London is well supplied with loanable funds;
consequently no difficulty is encountered in securing
accommodation
reasonable terms. This sub¬
ject was so fully dealt with in last week’s issue that
nothing further need be said to-day except that the
latest offerings have been
readily absorbed without
involving any marked firmness in discount rates.
Among the principal government loans sanctioned
or believed to be
pending are a Servian loan of $30,000,000, a Bulgarian loan of $20,000,000, a Spanish
(internal) loan of 100,000,000 pesetas ($18,000,000),
an
on
Austrian loan of
very
140,000,000
crowns
Moroccan loan (from France)
Italian loan of 500,000,000 lire
a
($28,280,000),
of $16,000,000, an
($96,154,000), and a
Roumanian loan of $25,000,000.
Russian Minister of Finance, M.
ever
possible official
of such
compacts,
so
interference with the
announcement be
promptly made
that there may be
even
no
avoidable
flow of exports and
imports.
often placed months in ad¬
Foreign trade orders are
of delivery, so that no time should
be lost in
letting importers and exporters know exactly where
they will stand after March 31. Happily, the Adminis¬
tration appears to be
fully alive to this desideratum.
vance
Germany is to-day the storm centre of tariff troubles.
She has been dickering not
only with the United
States but even more
vigorously with France, while
busily readjusting her relations with Canada
and Portugal. Those
responsible for preserving and
protecting Germany’s foreign trade interests were
understood to have been willing to
accept the proposal
put forward by our State Department,that the
existing
she is also
schedules be maintained until March
31, the points
under dispute to be meanwhile submitted
to a
com¬
mission for
were
consideration; but the Berlin authorities
by the powerful agricultural bodies to
induced
reject these overtures in order that America might be
thus spurred to
conciliatory action before Feb. 7, when
Germany could open warfare against this country
without incurring retaliation before
April 1. The
whole dispute finally turned
upon American exports
of live cattle and meat to
Germany. The campaign
now being waged at home
against the great packing
companies of Chicago was welcomed by Germany,
since it was argued that the
Washington authorities
would be little disposed to
disrupt the whole trade
Moreover, the
Kokovstoff, in sub¬
mitting his Budget for 1910, naively remarked that
“requirements possess the quality of increasing more
rapidly than resources, and, besides, know no limit between the two nations for the
benefit of bo appar¬
to their growth.”
His proposals for raising additional
ently undeserving and so unpopular an industry. This
revenue follow the lines of other
European Ministers view proved correct, our Government
having now
of
Finance; they include an income tax, a revision decided to
accept, at least for the present, Germany’s
legacy duties and of taxes on real estate. The restrictions upon
imports of cattle and meat. German
amount to be supplied from borrowed
funds is placed commercial interests are incensed over
the new tariff
at
$42,000,000,which, though disturbingly large in face bill passed by the French Chamber and about
to be
of Russia’s general financial
position, is $23,000,000 considered by the Senate. Retaliation is
urged.
below
of the
the 1909 total.
deficits, Russia has
8
Notwithstanding her repeated
points the market value
twelve months.
“Some of
them,” writes a Berlin correspondent, “are
enhancing by about already complaining that the Government has done
her bonds during the last
nothing to avert the danger that is threatening the
German export business.”
succeeded in
of
Tariff
negotiations, more or less delicate in their
fraught with disturbing possibilities, are
proceeding not merely between the United States and
nature and
other governments but between
numbers of
No settlement of the
points at issue between our
Government and France has yet been effected.
Both
sides are extremely reticent, as
publicity at this stage
foreign might bring complications through clamor by special
nations, notably between Germany and
France, Por¬ interests. France is well armed for a trade
war,inas¬
tugal and Canada, between France and
neighboring much as it can inflict extremely heavy taxes upon im¬
nations, between Canada and certain
European ports from an unfriendly country; but the volume
peoples and between Japan and the countries affected of business done with the United
States is so large that
by her new schedules of taxation. Great Britain is a
rupture would be widely deplored. French wine¬
singularly free from problems of this kind in view
growers, no matter how keenly they may
deplore the
of her all-embracing free-trade
policy, but at th exaction of radically higher duties under the
Aldrich-
Jan. 29 1910. J
THE CHRONICLE
267
Payne Law, cannot well afford to lose, even temporarily, cover their needs to a larger extent than before in the
the patronage of a nation so lavish in its expenditures call-loan section of the market, especially as the
for high-class wines and other luxuries.
Diplomacy extensive liquidation of stocks has released large sums
will no doubt succeed in averting a trade war with during the last few weeks. The range is 3%% for
France.
60 days, 4% for 90 days and four months and 4@4J4%
for five and six ilionths.
Discount rates abroad have not moved in the
same
direction at all the
leading centres this week, the
tendency having been determined by local conditions.
London, for example, has changed little, the improve¬
ment in the Bank of England’s position having been
counteracted by the fortnightly demands for settle¬
ment purposes and political uncertainties; the rate is
now 2 11-16@2%%, which compares with
2%% a
week ago.
At Paris the demands upon the Bank
continue; hence the charge there has risen from
2 7-16% last week to 2^%.
Berlin has been influ¬
enced by the new Government loan of $120,000,000,
the quotation in the open market there having ad¬
vanced % of 1%, to a minimum of 3Y%%, which
precludes an immediate change in the official charge
^ 4*4%. Amsterdam quotes 1 %%—much the lowest
of any European centre.
No changes have been made
this week in Bank rates abroad.
Commercial paper has been drawn by numbers of
the best mercantile borrowers and the desired rate of
43^% has been agreed to by a few purchasers in New
York City, but very few bills are negotiable at less than
4%%, which is the standard rate at the moment. Outof-town institutions are still demanding 5% but the
recession in collateral loan quotations, combined with
an increase in
surplus funds at most of the large cities,
has militated against the granting of this discount.
Business is moderately active from all quarters; Chi
cago banks have been prominent buyers this week.
The range is 43^ @5% for the best grades of four to
six months’ single names and 5@5J^% for less attrac¬
tive bills. The small offerings of 60 to 90 days’ en¬
dorsed bills receivable
now
in the market
are
quoted
4K@5%.
Foreign exchange has not fluctuated J^c. per pound
beginning to end of the week. The tendency, on
the whole, has been upwards, despite a continuance of
the shipment of bonds and stocks to Europe on a large
scale, a movement that is at last attracting some at¬
tention abroad. The drawing of exchange against
these securities has provided the market with its chief
supplies of remittance this week. Despite these offer¬
ings, the net change in quotations has been a nominal
advance in demand sterling and a rise of 15 points in
cable transfers. The undertone, too, has been re¬
markably firm, even when trading, as on Thursday,
was virtually at a standstill.
The level now is a full
cent per pound below the quotations of a year
ago,
but how long this disparity will last is open to question,
for the supplies of commercial remittance are unsea¬
sonably light and finance bills (apart from stock bills)
are not in evidence, a fact that is not
illogical in face of
the advance that has taken place in most foreign dis¬
count rates simultaneously with a decline in call
money here to below 3% and in time accommodation
to 4%.
Yesterday trading in francs was disorganized
by the crippling of cable communication with Paris.
Gold movements have been unimportant. London
was called upon on
Thursday to ship $750,000 (in
sovereigns) to South America, but the demands from
India, formerly a factor, were negligible. The only
engagement worth noting in New York was that of
$350,000 to Montreal, a transaction of no broad signifi¬
cance.
The larger bankers interested in the foreign
exchanges are watching closely the proposals for issuing
from
The Bank of
England was again able to record an
increase in its proportion of reserve to liability, from
50.75% a week ago to 51.85%, which is very comfor¬
table for the last week of January. The total reserve
gained £730,577, including £441,074 in coin and
bullion.
There have been
no
withdrawals from the
Bank for
shipment to India, but the outflow to South
a
factor; £160,000 was also
withdrawn for the Continent, besides about £150,000
more on Thursday for remittance to South Ameri¬
can
points after the weekly Bank statement was
prepared. According to our special cable from
London, the Bank of England gained £441,074 bullion
during the week and held £36,906,350 at the close of
the week. Our correspondent further advises us that
the gain was due wholly to receipts from the interior
of Great Britain, exports having exceeded imports by
America continues to be
£239,000.
The details of the movement into and out
of the Bank
follows:
Imports, £102,000 (of
£13,000 from Australia and £89,000 bought in
the open market);
exports, £341,000 (of which
£160,000 to France, £100,000 to South America and
£81,000 ear-marked Straits Settlement) and receipts
of £680,000 net from the interior of Great Britain.
were
as
which
The local money
than in any recent
market has been quieter and easier
week, due wholly to a cessation in
demand; the supply is ample for Stock Exchange
purposes, yet there is no keen inquiry from investors
for new corporate loans.
The trend can best be illus¬
trated by following the movements in call rates from
day to day. On Monday the ruling quotation was
33^%, on Tuesday it was 3%%, on Wednesday a
minimum of 2% was recorded, on Thursday the
ruling rate was only 2%%,while on that day loans
were made at 1
%%, the lowest figure recorded since
the beginning of August.
Yesterday the range
was 2%% to
3% and the ruling rate declined to
only 23^%. Time money, it were little exaggera¬
tion to say, is unlendable at better than 4% for
any period.
Borrowers are not even anxious to
obtain short maturities at
3%%; they are content to
additional Government bonds that will be available
as a basis for increasing the note circulation of national
banks.
The volume of notes
already outstanding is
regarded as unhealthily extensive, and any material
aggravation of the excess would be deplored, since
one effect would be to foster the outflow of
gold.
Compared with Friday of last week, sterling ex¬
change on Saturday was 10 to 15 points lower, at
4 8380@4 8390 for 60 days, 4 8615@4 8625 for de¬
mand and 4 8645@4 8650 for cable transfers. A rise
occurred at the opening of the week, demand closing
on Monday at 4 86J4 bid and cable transfers at 4 8655
268
THE CHRONICLE
The improvement continued
@4 8660.
Tuesday;
demand then sold at 4 86% and cable transfers at
4 86%, although 60-day bills were freely offered at
4 84.
Wednesday brought a slight recession (about 5
points) in demand, but cables were wanted for the
London stock market settlement, and consequently
they were firmer. Dulness reigned on Thursday,
which is invariably a quiet day in exchange; the close
was at 4 8380@4 8390 for 60 days, 4 8625@4 8630
for demand and 4 8665@4 8675 for cable transfers.
On Friday there was a decline of 5 points in demand
[VOL.
LXXXX.
on
THE PRESIDENT’S DUTY.
Everything has been subordinated this week to a
discussion and consideration of the President’s pur¬
poses with reference to the enforcement of the Sherman
Anti-Trust Law of 1890 against the great industrial
corporations through which the country’s business
activities are carried on to-day. The headlines in the
daily newspapers have been very sensational at times,
representing the President as being determined to
imitate the tactics of his predecessor in office and en¬
and cable transfers.
gage in a general “trust-busting” campaign.
The
effect not unnaturally has been a duplicate of that ex¬
The following shows the daily posted rates for ster¬ perienced when Mr. Roosevelt was engaged in that
kind of work, proving extremely
ling exchange by some of the leading drawers.
demoralizing, and
causing fear and consternation not alone on the Stock
Thurs.,
Fri.,
Wed.,
Mon.,
Fri.,
Tues.,
Jan. 21 Jan. 24 Jan. 25 Jan. 26 Jan. 27 Jan. 28
Exchange but throughout the business world.
Brown
84)4
84)4
J 60 days 4 84^
84)4
84)4
84)4
On Tuesday, when values were tumbling and
Brothers & Co..
87
87)4
\Sight-. 4 87)4
87)4
87)4
87)4
84 H
Kidder,
j 60 days 4 84)4
84)4
84)4
84)4
84)4
crumbling at a frightful rate, the President authorized
87
87
87
87
87)4
\ Sight.. 4 87)4
Peabody & Co..
84 n
Bank ot British
84)4
84)4
] 60 days 4 84)4
84)4
84)4
a statement
North America
87)4
denying that the purpose of the Adminis¬
1 Sight-. 4 87)4
87)4
87)4
87)4
87X
Bank of
i 60 days 4 84)4
84)4
84)4
84)4
84)4
84)4
tration
“is other than as set forth in the message of
Montreal
\ Sight-. 4 87 )4
87)4
87)4
87y2
87)4
87)4
Canadian Bank
J60 days 4 84)4
84)4
84)4
84)4
84)4
84)4
4
the
87
of Commerce..President of Jan. 7,” and reiterating that his pur¬
87)4
H
87)4
87)4
ISight-87H
87)4
84)4
Heidelbacb, Ickel! 60 days 4 84 H
84)4
84)4
84)4
84)4
87
87
87
87
87
heimer & Co
1 Sight-. 4 87)4
pose is exactly as stated in that message.
On the
Lazard
J 60 days 4 84)4
84)4
84)4
84)4
84)4
84)4
•
.
—
.
—
—
-
—
Freres
Merchants’ Bank
of Canada
The
-
4 87)4
J 60 days 4 84)4
87)4
84)4
87)4
...ISight..
.-.ISight..
market
4
87)4
closed
87V,
84)4
87)4
87)4
84)4
87)4
87V,
84)4
87)4
87)4
84)4
87)4
stock market this announcement had
a
very
tran-
quilizing influence for the moment, causing stocks to
shoot up with great rapidity; but the business world
still views the future with misgiving, and even the
stock market has again become unsettled the last
two days.
The truth is, it is this special message
Friday at 4 8390@4 84 for
days, 4 8620@4 8625 for demand and at 4 8660 @
4 8665 for cables.
Commercial on banks was quoted
at 4 8340@4 8350 and documents for payment at
that is the cause of all the trouble.
Its tone and pur¬
4 82%@4 83%.
Cotton for payment ranged from
4 82% to 4 83 and grain for payment from 4 83% to port is extremely disturbing, and concern increases
the more the document is examined and studied.
4 83%.
on
60
We outlined the main features of the message two
weeks ago.
Before adverting again to the subject,
The
to
following gives the week’s movement of money
it
and from the interior by the New York banks.
seems
desirable to note that the announcement in
the
Received by
Shipped by
N. Y. Banks. N. Y. Banks.
Week ending Jan. 28 1910.
Net Interior
Movement.
morning papers last Saturday that the Department
of Justice had determined to bring proceedings against
the “Beef Trust” before the Federal Grand Jury,
which
Chicago for the present week,
Total gold and legal tenders
$16,474,000
$5,124,000 Gain $11,350,000
played a prominent part in adding to the feeling of
uneasiness.
When this Federal Grand Jury was im¬
With the Sub-Treasury operations and gold exports
paneled on Monday it appeared that it was to sit be¬
the result is as follows:
fore the notorious Judge Landis, and the latter actually
Into
Out of
Net Change in
went out of his way to announce that he, also, had
Week ending Jan. 28 1910.
Banks.
Banks.
Bank Holdings.
Banks’ interior movement, as above.
$16,474,000
$5,124,000 Gain $11,350,000
planned a Beef Trust inquiry, and had notified the
Sub-Treas. oper. and gold exports.
35,650,000
35,150,000 Gain
500,000
U. S. District Attorney that he would direct the at¬
Total gold and legal tenders
$52,124,000
$40,274,000 Gain $11,850,000
tention of the jury to the subject of the present investi¬
The following table indicates the amount of bullion gation.
Of and by itself the prosecution of the beef combi¬
in the principal European banks.
nation would possess little significance.
If it has been
Currency
§15,127,000
1,347,000
Gold
$4,475,000 Gain $10,652,000
649,000 Gain
698,000
had been summoned in
-
Jan. 27 1910.
Banks
Jan. 28 1909.
of
Gold.
Silver.
Total.
Gold.
Silver.
£
£
£
£
£
England.. 36,906,350
France
Germany..
139,040,880
41,871,100
Russia a. 141,088,000
Aus.-Hunb 56.596-,000
.
16.130.000
Spam
Italy d... 38,650,000
Netherl’ds 10,083,000
4,287,333
Nat.Belg.d
Sweden
4,468,000
Switzerl’d.
5,058,000
1,704,000
Norway
_.
_.
36,906,350 34,254,376
35,049,200 174,090,080 145,396,837 35,393,582
14,033,400 55,904,500 44,728,150 12.090,700
7,110,000 148,198,000 120,403,000
6,028,000
12.918,000 69,514,000 49,531,000 12,662,000
30,863,000 46,993,000 15.827.000 32,421,000
4.058,000 42,708,000 37,664,000
4,600,000
2,988,100 13.071,100
9,068.800
4,038,700
2,143,667
6,431,000
4,218,667
2,109,333
4.468.000
4,346,000
5,058,000
4,733,000
1,704,000
1.604,000
Total. ’
£
34,254,376
180,790,419
56,818.850
126.431.000
62,193,000
48,248,000
42,264,000
13,107,500
6,328,000
4,346,000
4,733,000
1,604,000
Total week 495.882.663 109,163,367 605,046,030 471,774,830 109,343,315 581,118,145
Prev. week 492.765.663 107,886.333 600,651,996 466,822,479 108,608,301 575,430,780
a The total of gold In the Bank of Russia Includes the balance held abroad—that
Is. the amount held for Russian account In other Continental banks.
The propor¬
tion so held and consequently duplicated In the above statement is about one-sixth
of the total this year, against about one-eighth a year ago.
b The Austro-Hungarian Bank Statement is now issued in Kronen and Heller
Instead of Gulden and Kreutzer.
The reduction of the former currency to
sterling
Pounds was by considering the Gulden to have the value of 80 cents.
As the
Kronen has really no greater value than 20 cents, our cable correspondent in Lon¬
order
reduce
Kronen
to
Pounds,
don, in
to
has altered the basis of conversion by
dividing the amount of Kronen by 24 instead of 20.
d The division (between gold and silver) given in out table of coin and bullion in
the Banks of Italy and Belgium Is made from the best estimates we are able to obtain;
It Is not claimed to be accurate, as the banks make no distinction in their weekly
returns, merely reporting the total gold and silver; but we believe the division we
make is a close approximation.
guilty of the practices alleged, it should undoubtedly
be convicted and punished.
What invests the move
with unusual importance, in the eyes of thinking men,
is that, taken in connection with the President’s
special message to which he so confidently refers,
it seems to be part of a general plan for attacking
“trusts.” The most sensational things said by the
newspapers about the President’s purposes are not half
so sensational as what he himself says in the document,
to which inquirers are referred.
As we pointed out
two weeks ago, the President in his message expressly
stated that he considered it his duty and it was also
his purpose “to direct an investigation by the Depart¬
ment of Justice, through the Grand Jury, or other¬
wise, into the history, organization and purposes of all
the industrial companies with respect to which there is
any reasonable ground for suspicion that they have been
Jan. 29
1910.]
THE CHRONICLE
269
statute which is rendered more and more certain in its
organized for a purpose and are conducting business
meaning by a series of decisions of the Supreme Court
on a plan which is in violation of the Anti-Trust Law.”
This is certainly a broad and unqualified declaration. furnishes a strong reason for leaving the Act as it is,
But the message embraces a great many other things to accomplish its useful purpose, even though if it were
of the same nature. This message is a good deal like being newly enacted useful suggestions as to change of
the similar documents that came during the Roosevelt phrase might be made.”
It is after making this declaration that the Presi¬
regime in that it contains many fair-sounding and
dent announces his purpose to direct an investigation
plausible passages which, if standing by themselves,
might tend to disarm criticism. But the general spirit under this very law uinto the history, organization and
of the message is revealed with unmistakable clearness, purposes of oil” industrial companies that may come
and it is not assuring. To avoid doing the President under suspicion. But cannot the President see, it
injustice we shall use his own words and language as will be asked, that the carrying out of any such purpose
far as possible and enclose the same within quotation will cause a widespread upheaval in the business
marks. He gives it as his opinion that “The original world? The President expressly says it will, and takes
purpose of many combinations of capital in this pains to emphasize the fact. Note the consequences
country was not confined to the legitimate and proper that would follow expressed in his own words. We have
object of reducing the cost of production. On the interpolated numerals to number and distinguish the
contrary, the history of most trades will show at times different ways in which trouble would follow: “But
such an investigation and possible prosecution of cor¬
a feverish desire to unite by purchase, combination
or otherwise
all the plants in the country engaged porations whose prosperity or destruction affects the
in the manufacture of a particular line of goods.” comfort not only of stockholders, but of millions of wageSuch combinations, we have already seen, he deems earners, employees and associated tradesmen, must
it his duty to proceed against and break up as soon as necessarily tend (1) to disturb the confidence of the
investigation to that end can be made, and the neces¬ business community, (2) to dry up the now flowing
sources of capital from its places of hoarding and
sary evidence collected to secure a conviction.
In another part of his message he takes pains to (3) produce a halt in our present prosperity that will
point out that the distinction between “good trusts” cause suffering and strained circumstances among the
and “bad trusts” is wholly illusory, and that hence innocent many for the faults of the guilty few.”
For ourselves we have no hesitation in saying that
both must expect to fare alike under the path of duty
which he has prescribed for himself. Here is what he such a wholesale crusade against our great industrial
combinations would involve a disturbance to business
says on that point and his words should be carefully
weighed and considered.. We have italicized a few of interests more serious and more calamitous than that
occasioned by the panic of 1907 or, for that matter,
the most striking clauses.
Many people conducting great businesses have cher¬ by any other panic. But is there to be no escape
ished a hope and a belief that in some way or other from the dreadful catastrophe here portrayed? The
President offers as an alternative Federal incorporation.
a line may be drawn between “good trusts” and “bad
trusts” and that it is possible by amendment to the If these industrial combinations accept Federal in¬
Anti-Trust Law to make a distinction under which
corporation with the conditions that will form part
good combinations may be permitted to organize, of the same, then they are to be absolved and all their
suppress competition, control prices, and do it all
legally if only they do not abuse the power by taking faults and sins are to be forgiven. The whole message
too great profit out of the business.
They point with has been carefully worked out with that end in view.
force to certain notorious trusts as having grown into If they do not choose to accept Federal incorporation,
power through criminal methods by the use of illegal and Federal surveillance and control, or if the States
rebates and plain cheating and by various acts utterly
in assertion of their sovereignty put a ban on Federal
violative of business honesty or morality, and urge the
establishment of some legal line of separation by which centralization of this kind, then they are to be de¬
“criminal trusts” of this kind can be punished, and stroyed, even if in the process of their destruc¬
they, on the other hand, be permitted under the law tion the whole business structure of the country shall
to carry on their business. Now the public, and espec¬
be thrown into chaos.
ially the business public, ought to rid themselves of the
We venture to assert that no such rule-or-ruin
idea that such a distinction is practicable or can be intro¬
duced into the Statute. Certainly under the present proposal has ever before emanated from the execu¬
tive head of any nation in modern times.
Anti-Trust Law no such distinction exists.
We
do not know what the industrial companies may
The President also admits that all this marks an im¬
be inclined to do with this club held over their heads,
portant departure from previous practice. He says:
“In considering violations of the Anti-Trust Law, we but—waiving entirely the question of the Con¬
stitutionality * of the proposal—we should judge it
ought of course not to forget that that law makes un¬
will be a long time before the States will consent to
lawful methods of carrying on business which before its
surrender control of these corporations (which neces¬
passage were regarded as evidence of business sagacity
and success, and they were denounced in this Act not sarily must carry on their activities within State
because of their intrinsic immorality, but because of the borders) into the hands of the Central Government.
If the General Government possesses power to create
dangerous results towards which they tended, the concen¬
tration of industrial power in the hands of the few Federal corporations to carry on business in all forms,
then it must also possess the power to protect these
leading to oppression and injustice.”
The objection to the Anti-Trust Law could be stated corporations against any acts of the States.* The ex¬
in no better or more forcible way than in these words emption and protection to be enjoyed would be ex¬
of the President himself.
Does Mr. Taft then ask for pressed in the statute. It might provide, for instance,
as we suggest in a subsequent article, that in return
an amendment of the law which works thus harshly?
for Federal incorporation the shareholders should enQuite the contrary. He argues that “The value of a
210
THE
joy freedom from inheritance
taxes
now
CHRONICLE
imposed by incorporation
[VOL.
LXXXX.
by wholesale prosecutions for viola¬
statute which nobody approves.
President
Cleveland would not compromise with error and
As a matter of
sought
fact, Mr. Taft expressly speaks of of¬ to inculcate correct views
on the
money question.
It
fering “protection to a Federal company against harm¬ was not
then to take a stand in opposition to
popular
ful, vexatious and unnecessary invasion by the States.”
silver, but results have vindicated his course. If
Under
the States or freedom from other taxes.
In numerous otherways, too, the powers of the States could be curtailed.
tion of
or
a
such
circumstances, with the Federal company President Taft should now cut loose from
the Roosevelt
responsible only to the General Government and not to influence
and undertake to combat
the State wherein its
popular error on
manufacturing producing or the trust question, instead of
seeking to propitiate it,
other activities are carried
on, State sovereignty would his course would also be
quickly vindicated, and, like
become an empty shell.
Cleveland,
he
would
be
sure
of enduring fame.
All this,
however, we are given to understand by the
At all events a
heavy responsibility rests upon the
message, will not deter the President from his
purpose President. If, through the
to destroy combinations
carrying out of the policies
organized under State laws, if and schemes recommended in
his special message, he
the U. S. Supreme Court shall sustain
the Government’s shall
bring
about
a total
disruption of the country’s in¬
cases against the American
Tobacco Co. and the Stand¬ dustrial
organization, with all the frightful
ard Oil Co., which are now
pending before that tri¬ that this will involve, the situation will consequences
be entirely of
bunal. The President
admits, as we have seen, that his own making. He cannot shift
the blame on any one
the
undertaking will be a heavy one, and that the con¬ else. If the
Anti-Trust Law, under judicial
interpreta¬
sequences will be serious, but asks us to believe that
tion,
has
any
such
wide
sweep as the President claims
it is his duty nevertheless to
go ahead.
for it, if the disasters which
he himself forecasts are
We do not think that
any such duty is laid upon the
among the probabilities that now face the
President. We can suggest
country, then
a very much simpler the President
should prove equal to the
opportunity
remedy. The Anti-Trust Law can he repealed. What and
demand the instantaneous and
is more, it should be
unconditional re¬
repealed. It only needs a simple peal of the law. The law
as it stands suits no
Act of Congress, and
one, not
thejsignature of the President even the
laboring
classes,
some
of
the
leaders of which
to do this.
A counterpart for the
step, too, can be find themselves caught in its meshes.
found in the action taken
Therefore, we
by Congress in 1893, on the say, repeal the
law;
end
the
and
insistence of President
doubts, the fears, the
Cleveland, in repealing the Silver alarm now felt. Let
Law. At that time the
enterprise and industry follow
country was in the throes of the their present natural bent
and thrive and
panic occasioned by the continued
expand. The
coinage of silver common law will still remain to
dollars worth less than 50 cents.
protect the community
There were many against the
iniquities
of
monopolistic combinations.
people then who claimed that the remedy for the dis¬
aster resulting from silver
inflation was more inflation
)
NEXT CHAPTER IN ENGLISH POLITICS.
of the same
kind, just as the Rooseveltites to-day,
After numerous fluctuations of
when the business of the
opinion as to what
country is in urgent need of has been the actual
rest and seeks relief from too
tendency of the popular voting in
much Government
regu¬ Great Britain, and as to what
,
lation and
ment
same
interference,
are
proposing
interference—more legislation,
kind.
demanding
But
President
Govern¬
laws of the
more
more
Cleveland
stood
the
new
come
Parliament chosen
is now
as
would be the nature of
a result of
it, the out¬
fairly in sight. The latest returns at
firm, hand, with only 28 out of the 670 total seats
remaining
repeal, and finally accomplished his to be voted
on, is a representation of 263 for the Con¬
purpose, and the country owes him a
lasting debt of servative-Unionist coalition, of 262 for the Liberals
gratitude for it. To-day
everybody can see what alone, and of 379 for the so-called
Government coali¬
egregrious folly the whole silver business
was, and the tion, if it be made to include the 77 Irish
Nationalist
present crusade against corporations is no less
seats already won and the 40 Labor
lacking
members. It will
in sagacity.
be seen from these figures that the
indicated plurality
Just as there are certain
principles with reference to for the Liberal coalition would be
116, and that their
money so clearly right that every one who
favors a plurality, not
including the Irish Nationalists, would
sound currency knows that
they cannot fail to prevail, be 39. This narrow
majority may be slightly in¬
and to disregard them means
disaster and suffering, creased or decreased as a
result of the final returns,
so there are certain
principles underlying a sound in¬ but it is not
likely that any change of great importance
dustrial system which cannot
be violated with im¬ will occur.
Supposing this to be the actual standing
punity . During the period of silver inflation our indus¬ of
the several parties and factions in the next
Parlia¬
tries were
constantly under a cloud. Whatever ment, on the basis of all the
voting, it is now possible
recoveries occurred were fitful and
to assume with some clearness what
and
temporary,
will be the
there was-never any sustained
po¬
improvement. Confi¬ litical result.
dence became more and more
impaired, until by one
In the first place, there stands forth
the very im¬
bold stroke we threw off the
shackles and removed portant
fact, always a matter of weight in English
the fear that was
throttling business. In like manner political
calculations, that the Government plurality
the crusade against
corporations is doing incalculable has been
literally shattered. Reckoning the Liberalharm, holding our industries as in a
vise, and keeping Unionists, for purposes of
comparison, as included with
improvement within narrow bounds. We have scarce¬
the Conservative party both in the
present year and
ly recovered from the effects of the panic of two
years in 1906, the date of the last
election, the figures show
ago when we are threatened with another
setback from that the Liberal
Parliamentary plurality has fallen
the same cause. With our
industries already
from 354 at the conclusion of the election
suffering
of four years
from political
oppression, would it not be the height
to
ago,
little
more
than
100
on the
of folly to undertake to
present occasion.
perpetuate the evil by Fed era In 1906 the Liberal
Party alone, without either the
Jan, 29
271
THE CHRONICLE
1910.]
Nationalist members, held 229 more majority in favor of a Home Rule bill, the House of
seats than the Conservative-Unionists combined.
As Lords, in throwing the measure out, would not invite
the returns now indicate, the Liberal Party alone, even the criticism passed on its refusal to concur in
without its factional allies, will hold less seats than the the Budget of the Commons.
Both tradition and precedent alike unite in giving
Conservatives and Unionists combined. This is a
case
where
figures speak with more emphasis the Peers full power to reject a measure of this sort.
than any formal deductions which may be made by One recent precedent is famous, and deserves some re¬
consideration in view of existing circumstances. It
politicians. So far from being what was generally feared—a man¬ was in 1886 that Gladstone’s first Home Rule bill was
date for Socialism, or for tax expedients verging in the defeated and a Conservative Ministry voted in at the
direction of Socialism—this general election is a per¬ general election.
This Salisbury Government lasted
fectly unmistakable rebuke to the tendencies exhibited only until 1892, when, as a consequence of another
in his recent Budget financiering by Mr. Lloyd-George. general election, Gladstone came back to power with
Such a conclusion, necessary under any circumstances a majority of 40. This was obtained through Irish
from the total figures, is emphasized by the fact that members, and under heavy pressure, another Irish
practically all candidates who stood on a purely Home Rule bill was presently forced through the
Socialistic platform
have been defeated, even House of Commons by a vote of 347 to 304. It was
where they held the same seats in the recent Par¬ then rejected by the Lords with an adverse vote of 419
to 41.
liament.
Shortly thereafter, Gladstone resigned his
On the other hand, it is impossible, even for the leadership; Rosebery succeeded to the Liberal Premier¬
most ingenious political imagination, to construe the ship; but in 1895 the loss of the Government’s Parlia¬
vote as a popular mandate against the House of Lords. mentary majorities at by-elections forced yet another
It is quite true that Mr. Asquith, in his election pro- general election.
As a result of this, the Conserva¬
nunciamento, made positive declaration that his party tive-Unionist coalition came back to power with a
would inevitably take measures to prevent further majority of 152 over Liberal and Irish representatives
interference with its policies by the House of Lords. combined. The Home Rule project was to all in¬
But in so doing, Mr. Asquith threw that question de¬ tents dead, and it has remained in that condition dur¬
liberately before the people, and the result has not ing the fifteen subsequent years.
There is much that is worth considering in this
only been the cutting down of Parliamentary plurali¬
If one were to ask, what will the
ties by seventy per cent, but so heavy a reduction of chapter of history.
majorities by which individual candidates were chosen Asquith Ministry do in this or other regards when the
that a very great number, who were returned with a new Parliament assembles, we should find it difficult
heavy vote in 1906, barely scraped through on the to answer. Possibly the Liberal leaders do not them¬
Labor
or
the Irish
This was no isolated and occasional
phenomenon, but a marked characteristic of the voting
throughout the United Kingdom. It is not easy to
imagine, under such conditions, a challenge by the
new Administration to the traditional powers of the
selves
House of Lords.*
Edward
present occasion.
as
yet see clearly what program
lies before them.
the Liberal Cabi¬
net is not wholly or chiefly made up of Lloyd-Georges
and Winston Churchills, but in considerable part of
It must
never
be forgotten
that
even
sober and conservative statesmen
Grey.
of the type of Sir
It is not improbable that the As“
highly interesting bearing on an¬ quith Ministry will re-introduce its Budget of 1909,
Even in that
other important consideration as the outcome of the and wait to see what happens then.
general election. Probably most observant people, regard, the Liberal outlook is perplexing; for the Irish
in reflecting on the more recent returns from the members, on whom the Ministry must rely for a sure
voting, reached the conclusion that if' the Irish Na¬ Parliamentary majority, were not enthusiastic in the
tionalists were either to hold, or nearly hold, the bal¬ Budget matter, and in truth very largely refrained
from voting on it.
It may easily turn out that the
ance of power in the next Parliament, the Home Rule
Irish
will
members
attempt what in this country will
issue would be bound to take a paramount place.
As
be
called
a “deal,” with the view to granting support
to this measure also, Mr. Asquith, of whom no one
to
the Budget in return for a Home Rule measure.
can complain that he has not been profuse in throw¬
But can the Liberal Ministry, under existing circum¬
ing out rash assurances to political factions, did un¬
questionably, at a very late day, force the issue into stances, take the chance of an aggressive Home Rule
his campaign. Therefore it is pertinent to inquire campaign when the mandate of the electorate in gen¬
what chance exists for the Home Rule issue to become eral is so far from having even passively approved of it?
One may be sure that this question is at the present
a fighting point in the coming Parliament.
There are three considerations with a bearing on moment being discussed with much perplexity in the
this question. In the first place the Irish National¬ Liberal conferences. The whole situation as it stands
ists themselves have apparently gained no ground over will lend peculiar interest to the first days of the new
1906, and may possibly have lost some. Up to date Parliament.
the Nationalist returns number 77, against a total of
84 in the previous election.
Second, it is now a wellknown fact that many English constituencies, in the WHAT THE STATES WOULD LOSE BY FEDERAL
INCORPORATION.
drift of majorities against the Liberals
as com¬
We have already dealt, in our issue of Jan. 15, with
pared with the last election, were distinctly affected
by Mr. Asquith’s Home Rule policy. But third, and those aspects of the proposed Federal Incorporation
of more practical importance than either of these con¬ law which are intended to bring the Sherman Antisiderations, there cannot be the slightest doubt that, Trust law up to date without repealing it, and by im¬
even supposing Asquith able to summon a working
proving it only in the eyes of those who are so blind
This fact has
a
272
that
THE
they cannot
CHRONICLE
[Vol.
lxxxx.
the difference between Govern¬
see
that her own citizens, when creditors of a
bankrupt for¬
interference and Utopia. It has another in¬ eign
corporation, may take all the assets in Tennessee
teresting and serious aspect to which we desire to to the entire defeat of the
corporation’s other
ment
just debts.
exceptions are unreasonable toward
ing this part of the program we draw conclusions not insurance companies to
an extent which has made the
only from the law itself but from the Presidential big insurance officers as anxious for Federal
supervision
message and also from the scarcely less official Gov¬ as the traditional fish in the
frying pan. Kentucky
ernment prospectus contained in
Attorney-General and other States tax their residents on shafes in
foreign
Wickersham’s Kansas City speech of Friday, Nov. 20
corporations. Almost all States with inheritance
1909.
We may say in passing that if the
public at¬ taxes impose them on the shares of non-residents,
tention had not been distracted from the last-named
although the legislators of New Jersey should by this
document by the fact that on the day it was published time have
noted that, since they established that
the Standard Oil decision was
announced, and if the policy, the bulk of large incorporation work has re¬
public had then realized the radical nature of the moved to Delaware. We could
multiply indefinitely
Taft legal program, we should have had an earlier
examples of the general principle that the corporation
appreciation of the dangers lurking in that pro¬ laws of
many States discriminate against non-resi¬
gram.
dents in every conceivable
way, in violation of the spirit
The Roosevelt idea of a national
incorporation law, of the Federal Constitution.
described and reviewed in our editorial of
Federal corporations are to
July 2 1904,
provide a complete pana¬
Vol. 79, pages 75 to 77, entitled “National
Incorpora¬ cea for this. Their stockholders will bear only one
tion as a Panacea,” was to take from the
corporations inheritance tax, their shares will probably not be sub¬
everything in sight, subject them to every unworkable jected to double taxation, no
ingenious Tennesseean
reformer’s idea which had ever been
proposed about can marshal their assets into his own pocket in case
corporations, and give them nothing in return. The of failure, they cannot be
subjected to wanton tax
present conception is far more insidious. Very sub¬
discrimination, and they may do business when and
stantial compensation is to be offered to
corporations. where they will, being assured in the most explicit
They are promised a remedy for real and crying evils, terms that they shall
not be inspected or supervised
and the business man is
placed with great adroitness by any State or local body whatsoever. However
between the Scylla of State extortion from
corpora¬ little of this is true, however serious the objections
tions and the Charybdis of Federal
tyranny. Let us to the new law upon Constitutional and other grounds,
see what the evils are which it is
proposed to remedy the fact remains that an enormous bribe is offered to
and whether it is
necessary for the States to lose so corporate interests in t*he new charter law.
much and for such a purpose.
This must be a warning to the States and to the
The first principles of the Federal
Constitution pro¬ business men, who, smarting under the
corporation
vide for absolute
equality throughout the entire United tax, are organizing to avoid the Charybdis of Federal
States. Under the
Confederation, all alike had suf¬ control. Let them do what they can to tame the other
fered bitterly from jealousies and
retaliation, which monster and teach their States to do justice to the
had made intercourse between the States
burdensome stranger within their gates. Let them not
only fear
in a degree only equaled in modern
days when Mis¬ the Greeks bringing gifts, but also recognize the way
souri or Oklahoma set out
deliberately to make itself in which their local laws and legislation have helped
all
disagreeable to
non-residents, and above all to to deliver the country into the hands of the radicals.
foreign corporations. And so the provision in the The price of State liberty
and of the effective exercise
Constitution which is more than
of
the
reserved
any other directed at
powers of the States is that those powers
making us all citizens of one country reads that “the shall cease to be abused. The scales must
call the further attention of
our
readers.
In describ¬
All States with
rare
.
citizens of each State shall be entitled to all
privileges
and immunities of citizens in the
several States.”
When it
tution to
in
came
to
applying other clauses
corporation,
deciding that it was
a
of the Consti¬
the courts found no difficulty
in substance a citizen of the
be turned
that Federal interference has
home rule.
so
no
chance to
outweigh
We should not deceive ourselves.
Whatever might
be the nature or the provisions of the first Federal in¬
corporation law, the scope and sweep of such an enact¬
ment, we may be sure, would be steadily enlarged if
once the measure
got upon the statute books and was
When it came to
giving a corporation the benefit of sustained by the courts. Ultimately, in order to
the above-cited clause, the
Supreme Court most un¬ make Federal control effective, it would forbid and
fortunately found itself unable to see the substance of destroy every form of commerce or
industry which
the question, and decided that
any State could com¬ could be caught by the Federal net except it be exer¬
mit any extortion upon a
foreign corporation as the cised by companies organized under national law.
price of admission to its territory, because it was a State sovereignty would
wholly cease in that respect.
fictitious
State which created it.
which a corporation
That is the ground
upon
goes into the Federal courts.
and not a citizen. At- first little The success of the scheme would vest
in the Federal
wrong was done under this decision, and reasonable Government all
power over every form of enterprise
States are reasonable still in
spite of it. But the ex¬ where more than a few men are
associated; that is to
tent to which unreasonable States
have gone under it say, over every concern of
appreciable size, whether
passes belief.
Massachusetts, always as unreasonable really important or not; over all
commerce, State and
in her tax laws as she is
progressive in other legisla¬ inter-State; in a word, over mines and farms and
fac¬
tion, will charge a foreign corporation as high as two tories—over
every form of modern industry.
Is it
thousand dollars a year for the
right to own a hundred conceivable that the people will ever consent to such a
dollars worth of property and do ten dollars
worth of dangerous and
revolutionary scheme, if they once
local business. Tennessee has
ingeniously provided understand its nature?
person
Jan. 29 1910. i
THE CHRONICLE
273
given for August. The aggregate value of
OUR FOREIGN TRADE IN 1909.
imports for 1909, at $1,475,612,580, compares with
The aggregate foreign commerce of the United States $1,116,374,087 in the previous year and $1,423,169,820
We have become so used to 1,000 million
for the calendar year 1909 exceeded that of any former in 1907.
year with the exception of 1907.
This result was due totals that the reader forgets it is only since 1904 that
in an important extent to an augmentation in the the inflow of commodities annually exceeded that
value of imports, the exports only slightly exceeding amount. Furthermore, since the 1,000-million mark
the facts
falling below either 1907 or 1906. A further was passed, or more properly speaking since 1903
feature of the year 1909 has been the increase in the (a period of six years), the further appreciation in
volume of our imports, being especially conspicuous, imports has been greater than in the preceding thirty
years.
as it has not been confined to any few articles or
With the exception of fibres (flax, &c.),
all
countries. Almost every commodity we receive from
the
important import items shared in the growth of
abroad came in more freely than in 1908—gains being
the
1909 aggregate.
Even luxuries had a part in
notable in material for manufacturers’ use, and to
swelling the new record; this is conspicuous in the
a lesser extent in manufactures, in shape for ready
consumption or to be further used in manufac¬ decided increase in the inflow of diamonds, imports
1908 and
largely exceeding those for either 1908 or 1907,
closely approximating the record total of 1906;
art works, furs and champagne also recorded notable
gains and many articles of general use exhibited appre¬
ciable increases.
Hides and skins imports for the year,
’or example, were largely ahead of those for 1908,
both in quantity and value, due to changes in tariff
rates.
A very large excess in value of India rubber
imports was in no small part caused by the higher
prices, the large and increasing demand for the
commodity for automobile tires, &c., accounting
United States is concerned.
Of raw wool the inflow was
To carry the comparison further back would be mainly for the advance.
merely to show a series of large gains. In that con¬ more than double that of 1908, and in manufactures
nection it is worth while to draw attention to the of wool and cotton important gains were recorded.
phenomenal growth of our commerce in recent years— Coffee, silk, copper and linens also came in much more
freely than in the previous year. We have remarked
a growth that in a period of forty years has virtually
above that part of the gain in value of India rubber
quadrupled the volume. In other words, the total value
of commodities coming in and going out forty years imports is due to higher prices here for the article.
That in fact has been the case with many commodities
ago was only 865 millions of dollars; in 1909 it reached,
that have shown an increased import.
In fact, it may
as stated below, 3,204 millions; moreover, it is to be
noted that the greatest advance was in the last decade. be stated in passing that for hides, goat-skins, tin,
From 1870 to 1879 the aggregate rose from 865 millions raw silk, jute, wool, leaf tobacco and cotton cloths, as
as a number of other articles, prices were materi¬
to 1,279 millions—a gain of 414 millions, exports well
furnishing most of it. The next decade (1879 to 1889) ally higher at the close of 1909 than in 1908, but of
the increase was 311 millions, largely in imports, and practically every article a greater quantity was im¬
from 1889 to 1899 an excess of 485 millions was ported.
The tariff law and its adjuncts, a good part of which,
exhibited, of which exports contributed all but 36
millions.
It remained, however, for the final ten as stated above, were fixed upon and passed early in
Avars’ period (1899 to 1909) to crown these gains, the August, and the details of which will be found in our
increase being 1,129 millions comparing the earliest retrospect of 1909 on pages 5, &c., of the issue of
with the latest year, or 1,272 millions contrasting Jan. 1 1910, was of course no small influence in estab¬
1899 with the record aggregate of 1907.
In the light lishing the new values of a number of leading articles
of such growth and of the further fact that exports of import. The removal of the duty upon calf¬
continue to show the greater improvement, the recent skins and hides of cattle, for instance, acted immedi¬
check in the outflow of commodities is not a matter ately to stimulate the inflow of those commodities and
of important significance.
Our total foreign trade the admission free of any impost of art works over
a certain age was reflected in a considerable augmenta¬
(imports and exports combined) for 1909, as indicated
tion in the value of those articles coming in.
More¬
by the official statement, was $3,203,815,851, or an
increase of 334^ millions over 1908, a decline of 143 over, in anticipation of higher duties under the new
millions from 1907 and an excess of 85 millions over tariff, the importation of a number of commodities
increased prior to its passage.
1906.
It is also interesting to note that every
country of importance shared in the increased in¬
flow of goods, with the augmentation most marked
in the importations from the United Kingdom, France,
Germany, Cuba, Argentina, Brazil, Belgium and
Canada. The result is a total of imports for 1909
exceeding any previous aggregate in our history; a
fact that in itself is one of the leading circumstances
tending to prove that recovery from the depression which
started in 1907 is now complete so far, at least, as the
turing.
'
and
regards the commerce of the United States *
merchandise imports and exports in 1909 were variously
influenced ‘ First of all it should be recalled that it
was a year of tariff revision, a period when merchandise
imports for the twelve months were both hastenec
and delayed to get advantage of the lower or higher
tariff changes in process of settlement. To put one’s
self into position for rightly studying the surroundings,
no better course could be adopted than to study our
retrospect of 1909, say from pages 5 to 23, especially
As
.
very
The total of merchandise
exports, as stated above,
only slightly less than in 1908, but much below
1907, the aggregate as reported having been $1,728,203,271, against $1,752,835,447 in the previous year
and $1,923,426,205 two years ago.
Agricultural
was
products, of course, continued to be the leading item
in the total, but it is a notable fact that it is due en¬
tirely to a falling off in the outflow of that class of
goods that there is a decrease in exports this year.
This is clearly seen when we state that in breadstuffs
274
THE CHRONICLE
alone, and due
to much smaller
shipments of wheat
and corn, the loss in value from 1908 reached 57 mil¬
lions of dollars. The fact of the matter was that our
grain crops, while better in 1909 than in 1908, did not
furnish a surplus sufficiently
large, considering the
moderate crops of the two previous
years, to permit
of any important volume of
shipments except at com¬
paratively high or prohibitive values. Breadstuff s
exports in the aggregate covered a value of only $139,200,000, against $196,262,583 in 1908 and $214,639,-
465 in 1907.
High prices also served to check exports of cotton
during the closing months of the year, with the result
that shipments for the twelve months were
only 7,575,000 bales, against 8,436,143 bales in 1908. The
average export price in the late year, however, was
11% cents per lb., as compared with 10 cents in 1908,
and 1134 cents in
1907, giving a value of $461,850,000
to this year’s
exports of 7,575,000 bales; whereas for
the 8,436,143 bales exported in 1908 the value was but
$438,829,110 and the 8,135,734 bales sent out in 1907
covered $469,836,601.
Every important item in¬
cluded under provisions showed a
greater or less de¬
cline from the previous
year, and the aggregate value
of all such exports for 1909 was
only $151,900,000,
against $181,490,154 in the preceding year and $197,634,350 in 1907. Petroleum shipments for 1909 were
of record total as
regards quantity, but in consequence
of lower prices exhibited a moderate decline in
value.
Exports of 1,570 million gallons valued at $103,800,000
in 1909 compare with
1,547 million gallons and $108,815,455 in 1908 and 1,295 million gallons and $91,383,064 in 1907. Of other leading articles of export
that showed a decreased
outgo in 1909, we may men¬
tion wood and its
manufactures, iron and steel manu¬
factures, naval stores, oil cake and meal, cars and loco¬
motives. In fact, the only notable
expansion in 1909
in cotton manufactures and leather
and
was
factures.
As indicating the
manu¬
LXXXX.
but
is, moreover, the smallest export balance since
The favorable balance in 1909 was
$252,590,691, against $636,461,360 in 1908 (the record) and
$500,256,385 in 1907. As in the previous year, the
movement of gold was
against us in 1909.c In fact,
never before has the outflow of the
precious metal
been so heavy as in the
year lately closed.
To South
America the outflow was most
notable, exceeding 50
millions of dollars, of which the
greater part to Argen¬
tina. Japan drew upon us
heavily also—in fact to
the extent of
nearly 30 millions. Imports, more¬
over, were less than at any time since 1902.
The
result has been a net
export of gold of $88,793,855,
which compares with a like movement of
$30,939,163
in 1908 and an excess of
imports of $88,182,391 in
1907.
Of silver we exported net
$11,000,000, against
$9,213,541 in 1908. Bringing together the various
net balances, we reach the
following comparative sum¬
mary of the year’s foreign trade as a whole:
1895.
YEARLY TRADE BALANCE.
1909.
$
1908.
1907.
1906.
1905.
Excess of—
$
$
$
%
Merchan. exports..252.590.691 636,461,360
500,256,385
477,741,862
447,846,245
Silver exporta
11,441,027
9,613,541 15,713,506 16,729,250 21,573,967
Total
264,031,718 646,074,901 515,969,891 494,471,112
469,420,212
88,793,855 30.939.163 *88,182,391*108,870,222
*3,498,938
Gold exports
Grand total
352,825,573
* Excess
of Imports
677,014,064 427.787,500 385.600,890 465.921.274
With all items included, it will be observed the ex¬
hibit for 1909 is an excess of
exports of $352,825,573,
which contrasts with
$677,014,064 in 1908 (the great¬
est in our history) and
$427,787,500 in 1907.
ANTHRACITE COAL PRODUCTION IN 1909.
Unlike the general rule in other
industries, anthracite
coal production for 1909 shows a decrease
instead of
an increase.
But past experience proves that the
anthracite trade very often follows a course of its own.
Industrial revival
during the year had the effect of
stimulating production in all directions, but the an¬
thracite trade is not so
readily amenable to changes
in general business conditions as other
leading branches
of the
country’s activities.
surface.
changes from
[VOL.
The reason lies upon the
It is found in the circumstance that hard
fuel goes largely into domestic and
year to year in the
coal as a
exports of leading staples and the relation those prin¬
family
cipal items bear to the aggregate outward movement consumption, being used for cooking and heating
rather than for
manufacturing purposes.
of merchandise, we present the
following compilation, reason this class of fuel is far less susceptible toFor that
which
covers
the results for the last six
years.
in
EXPORTS OF LEADING PRODUCTS FOR SIX
CALENDAR YEARS.
Exports.
1909.
$
Cotton
461,850,000
Breadst’ffs 139,200.000
Prov’ixsAc 151,900,000
.
..
Cattle, sh’p
A hogs. 17,000,000
Pe Tm Ac 103,800,000
1908.
1907.
1906.
1905.
1904.
$
$
%
$
$
438,829,110 469,826,601 413,137,936 392,600,644 368,839,188
196,262,583 214,639,405 189,069,690 154,300,630
181,490,154 197,634,350 208,586,501 190,600,703 98,307,218
166,164,404
27.533,329 34,808.819 39,445,859 42,974,935
108.815,455 91,383,064 85,738,866 79,640,929 43,646,211
80,624,207
business
severe or a
conditions than bituminous
mild winter often
plays a more
changes
coal.
A
important
part in extending or restricting the anthracite
output
than the condition of
general business. It should
also be remembered that while soft coal is found
nearly
everywhere outside of the New England States,
assuring for it
small
area
a
and
wide use, the anthracite fields are of
practically limited to one State—
Pennsylvania.
For manufacturing requirements,
693,727.512
therefore, use of hard coal is necessarily confined to the
Total... 1728203271 1752833247 1923426205
1798243434 1626990795 1451308740
sections of country in
relatively close proximity to the
anthracite regions, since freight
From the foregoing it will be noted that in 1909
charges would make
the
the coal too costly if
value of the exports of the five
shipped
long distances.
leading staples was
It appears that the anthracite
much less than in any year since
shipments to market
1905, with the falling during 1909 reached
only
61,969,885
tons, as against
off from 1908 slightly more than 77
millions. On the 64,665,014 tons in 1908 and
67,109,393 tons in 1907.
other hand, the outflow of “all
Total... 873,750,000 952,930,631 1008372299
935,978,852 860,117,841 757,581,228
All other
articles. 854.453,271 799,902,616
915,053,906 862,264,582 766,872,954
other articles” was 54 It will at once appear
from this comparison that the
millions in excess of the previous
year and appreciably falling off in 1908 at a time when the country’s indus¬
below only 1907.
Furthermore, comparing the earliest tries generally were in a state of extreme paralysis
The decrease in that year was,
year (1904) with the latest (1909), we find the most was relatively small.
roughly, only 2% million tons, or less than 4%. The
favorable exhibit is made by “all other
articles,” which small extent of the loss was the
more
in the interim, increased 160 millions of
dollars, or seeing that the 1907 total had been muchnoteworthy,
the largest
23%, against a gain in the leading items of 116 mil¬ ever
reported, the suspension of mining during April
lions, or 16.3%.
and May of the previous
year having cut the 1906
The important expansion of
production to low
imports' during the year
figures and induced an exceptional
decline in the volume of
output in 1907.
exports
In the fact that the 1908
explains, of course, the considerable drop in the trade
product had been main¬
tained
so close to the
balance in favor of the United States in 1909.
unprecedented
output of 1907,
It we have no doubt one
reason for the diminished
shows not only a decided decline from that of
pro¬
1908, duction of 1909. It should be observed that
concurrent with
a
the
falling
somewhat larger than the falling off in
1908, and yet that the decrease for the two years
combined was but little over 5,000,000 tons, or only
about 8%.
We have stated that the severity of the
off in 1909
was
plays an important part in stimulating
anthracite consumption. As it happens, both last
winter and the winter before were mild, and hence
there was no stimulus from that cause.
Moreover,
fears of labor troubles in 1909 had kept production
large during the later months of 1908, when, if normal
influences had controlled, the output would have been
materially restricted. As a result the markets became
overstocked with coal, and the fact that the weather
was mild during January, February and March 1909
tended to accentuate the situation. During these
three months, too, operations were still conducted in
fear of a strike, and in March particularly the ship¬
ments were of unprecedented extent, reaching 6,332,474 tons.
The miners, as expected, put in their de¬
increased
mand for
wages and other concessions as a
condition of the renewal of their agreement with the
companies on its expiration on April 1, but decided
not to stop work pending the conclusion of negotiations.
As a consequence, there was no suspension of mining,
and in April the contract between the men and the
winter often
mine
owners was
renewed for another term of three
the same basis of wages and without sub¬
stantial concessions of any kind. With this develop¬
ment it became apparent that the accumulations of
coal as a precaution against labor troubles had been
needless.
Accordingly, during the remainder of the
years on
close attention had to be given to working off
stocks, and with that end in view production was
sharply curtailed. Beginning with May the output
was heavily reduced, and it was not until the latter
part of the year that mining was again carried on with
year
In the table which follows we
monthly figures for each 1906.
of the last
six years:
1904.
1905.
1908.
1907.
customary freedom.
show the
Months—
January
February
March
April
May
June
July
August
September
October
November
December
1909.
5.1S3.345
4,576,004
6,332,474
5,891,176
5,063 ,S73
4,904,858
4,020,765
4,198,273
4,416,120
5,579,759
6,027,800
5,775,438
Total tons.61,969,885
5,618,339
4,503,756
4,766,158
5.987.221
6,088,116
5,704,852
4,541,506
4,599,093
5,211,047
5,977,497
5,839,491
5,827,938
5,249,946
4,563,720
5,235,814
5,916,583
5,976,906
5,994,272
5,669,024
5.795,347
5,512,717
6,108,065
5,743,522
5,343,477
5,458,084
4,712,099
5,797,167
488,203
3,254,230
5,676,018
4,981,448
5,400,511
4,527,8S6
5,384,768
5.1S2.153
4.836,028
4.40S.578
3,922,601
5,258,567
5,278,041
6,005,15S
5,844,052
4,546,743
5,041,838
5.0S2.232
5,205,694
5,421,584
5,395,113
4,134,242
4,326,269
4,375,033
5,407,786
5,285,079
5,728,795
4,623,227
4,325,734
3,967,600
5,131,542
5.124,068
5,063,144
64,665,014 67,109,393 55.698.595 61,410,201 57,492,522
With reference to the
shipments over the different
observed as in the previous
year, namely that the smaller carriers are gaining at
the expense of the larger.
The Erie actually brought
in a larger amount than in either 1908 or 1907, and in
ratio moved 12.04% of the entire shipments to market,
against only 11.52% in 1908 and but 10.66% in 1907.
The Pennsylvania RR. and the New York Ontario &
Western did not exceed their 1908 output as far as
amount is concerned, but materially improved their
ratios, the Pennsylvania RR. having carried 9.63%
of the whole, against 9.31% in 1908 and 9.24% in
1907, while the Ontario & Western moved 4.39%,
against 4.33% and 4.01% respectively. In this latter
instance, however, the gain the last two years is merely
a recovery of the previous loss.
The larger carriers,
of course, had to yield up what the others gained.
In particular is this true of the Reading, whose pro¬
portion was only 19.24% in 1909, against 19.45% in
1908 and 20.89% in 1907.
In amount the Reading,
the Lehigh Valley, the Central of New Jersey and the
Lackawanna each lost in the neighborhood of half a
million tons each in 1909, as compared with 1908. In
the table we now subjoin we furnish a comparsion for
the last four years of the shipments over the different
routes, the same feature is
routes.
1909
1908
1907
Tons.
%
Tons.
%
Tons.
%
Reading
11,920,757 19.24 12,578.883 19.45 14,018,795 20.89
Lehigh Val..110,296,627 16.61 10.772,040 16.66 11,532,255 17.18
Del. S. & S-.j
Cent, of N. J.
D. L. & W...
Del. & Hud..
Penn. RR
Penn. Coal..]
Erie
]
N. Y.S.&W.J
N. Y.O. &W.
Total
275
THE CHRONICLE
JAN. 29 1910. J
7,938,370 12.81 8.495,425 13.14 8,714,113 12.99
9,531,695 15.38 10,088,697 15.60 10,237,419 15.25
6,136,946 9.90 6,461,666 9.99 6,562,768 9.78
5,966,543 9.63 6,019,457 9.31 6,203,271 9.24
1906
Tons.
11,258,295
J8,536,254
11.435,445
6,983,217
9,201,875
5,346.695
4,856,004
%
20.21
15.32
2.58
12.54
16.52
9.60
8.72
7,461,121 12.04
7,450,175 11.52
7,151,683 10.66
5.636.537 10.12
2,717,826
2,798,671
2.689,089
4.01
2,444,273 4.39
61,969,885 100.0 64,665,014 100.0 67,109,393 100.0
55,698,695 100.0
4.39
4.33
CHICAGO STOCK EXCHANGE RECORD OF
PRICES FOR 1909.
__
following page will be found a record of the
range of prices on the Chicago Stock Exchange for each
month of the calendar year 1909.
The table occupies
On the
the whole page and covers both stocks and bonds. It
furnishes an interesting index to the course of prices
and should be useful both for
present study and for
particularly true, bear¬
ing in mind that quite a few of the securities dealt in
on the Chicago Exchange are not found on the Ex¬
change lists at other centers, not even at New York,’
future reference!
This appears
where it is the custom to seek
a
market
even
for securi¬
parts of the country.
^Generally speaking, 1909 was an active and a very
good year on the Chicago Exchange. The volume of busi¬
ness, as measured by the share sales, was nearly double
that of the calendar year preceding.
In 1909 the ag¬
gregate of the sales reached 1,623,495 shares; in 1908,
only 829,216 shares and in 1907 805,984 shares.
Each month showed larger transactions than the cor¬
responding month of 1908, and the aggregate for the
twelve months was the largest of any year since 1901.
The amount of the bond sales did not quite equal that
of the year preceding, but comparison was with a good
total in 1908, and, furthermore, the bond business was
quite dull in 1909. The sales in 1909 reached $14,800,500, against $15,259,000 in 1908, but against only
$4,466,200 in 1907.
The Chicago Stock Exchange possesses an aggressive
administration, and to this is due in no inconsiderable
measure the growth and activity during the year.
The
special labors of the President, F. D. Countiss, and of
the committees in charge of the affairs of the Ex¬
change, as also Secretary Atkinson’s work, merit
ties that are distinctly local to other
•
mention in connection with the progress
made.
The
gain in the value of the memberships on the Ex¬
change furnishes an excellent indication of what has
been accomplished.
At the beginning of the year a
seat on the Exchange sold for $1,100; in December the
sale pricewas $4,200, and now even more is bid. Inpart
this remarkable rise in the value of memberships has
been due, according to the Chicago papers, to the activ¬
ity of the administration of the Exchange. It has been the
policy of the new management, we are told, to get seats
out of the hands of inactive members and into the hands
of men who would use them, and help the institution.
Among the events of the year in the history of the
Exchange were the adoption of the clearing-house sys¬
tem of trading and the adoption, also, of a rule that
corporations making application to list their securities
must file a statement of condition regarding their
finances, &c., and also that they must have transfer
offices in the city of Chicago.
Listings of stocks and
bonds on the Exchange reached a very considerable
aggregate during the twelve months. Altogether,
securities of a par value of $521,406,250 were ad¬
mitted to the regular trading list of the Exchange dur¬
ing the year, the amount of stocks being $383,984,000
and of bonds $137,422,250. Some of these were se¬
curities of reorganized concerns, like the Booth Fish¬
eries Co., but the list also included some of the staunch¬
est investment properties in the country.
Among
this latter class special mention deserves to be made
of the $255,535,700 stock of the American Telephone
& Telegraph Co. and the $49,000,000 bonds of the
same
company.
;
CHICAGO STOCK EXCHANGE RECORD OF PRICES
FOR 1909.
Continuing the practice begun by
prices for each month
us
five
years ago, we
furnish below
a
record of the
highest and lowest
Chicago Stock Exchange.
of 1909 for all the
leading stocks and bonds dealt in at the
compilation of the figures, which are based entirely on sale
transactions, we have used the reports of
dealings as given in the Chicago Stock Exchange official list each day. For record of
previous
In the
the
years,
“Chronicle” of Feb. 6 1909; Jan. 25 1908; Jan. 19
1907; Jan. 20 1906; and Jan 21 1905.
see
BONDS.
January
Low
February
March
April
June
May
July
August
September
October
November
December
High Low High Low High Low High Low High Low
High Low High Low High Low High Low High Low H irk
High Low
RR. & MISCEL. BONDS
Armour &. Co 4Hs—
96% 9678 95% 96% 95% 95% 93% 94*4
Booth Fish Co Deb 5s...1917
93% 93% 9312 93% 93% 93% 93% 94%
Do
90
90
do
90
90
---1924
Cass Ave & F O (S.t L) 5sl912
8'>% 80%
101
101%
Cal & So Chic Ry Co 5s..l927|l 0212 10212
101% 101%
102 102
City Railway 5s
1927 10414 105 10412104*4 104% 104*8 104% 104% 104 104% 103% 104
103% 104 103% 103*4 103 103% 102*4 103% 102*4 103% 103 J03%
Chic Cons Tr 4Hs
1939,
50
50
Chic Jet Rys 4s
95U 95l2
Chic Pneum Tool 1st 5s. 1921 72*2 74
94% 94%
72
74
7312 73
73% 74% 73% 74% 74% 74%
Chic Rys 5s
79*4 78
85
85
80% 80
84% 85% 84
1927{402 102*4 10U2102*8 102 102% 102 102% 101% 102% 100% 101% 74% 77% 77
101%
101% 101% 101% 101 101% 100% 101% 100% 101% 101% 101%
Do
4-5s. Series “A” .1927 9312 95*8 937g 95% 9478 95% 94% 95
94%
95
94%
96
96
96%
Do 4-5s. Series "B" .1927 84*4 85% 85
95% 96
95% 95*4 95
95
95*4 95% 95% 95
8912 85% 89% 87*4 88% 84% 88
86% 87% 86*4 87% 86% 87
Do
85
84% 86
86
4-5s, Series “C" .1927 89
85
86
86% 85
89
89
90
90
90% 90% 90%
89%
90
92
Do Collateral 6s ....1913 101% 102l4 102% 102*8 102
91
92% 91
91
91% 91
91*4
102% 102 102 101% 102 101% 101% 101% 101*4
Do Funding 6s
101% 101% 101% 101% 101% 101% 100% 101% 101 101
1913
102lS 102% 102%102%
101% 101%
Chicago Ry Temp ctfs 1st 5s 162’ 10212 102 102 10178 102% 102 102%
101%
101%
101
101%
Chic Tel 5s
101% 101% 101 101% 101% 101% 100*4 101
101% 101%
103*8l0378 103% 103*4 103 103% 103% 103% 103 103% 103 103% 103
103% 102*4 103% 102% 103% 102% 103% 102% 103% 103% 103%
Cicero Oas 5s
95
95
Comm Ed 5s
1943
103
103% 103 103% 103% 103% 103 103% 102%103% 102% 10278
102% 102% 102%102% 102% 102% 102% 102*4 102% 103
Chic Edison 1st g 5s
1926 101 10114 101% 101% 101% 101% 101 101% 101
101% 100% 101% 100*4 102*4 100% 101 100% 100%
Deb 5s
100% 100% 100% 100% 103 100
101
1021* 101% 101% 101% 101*4 101% 101% 101% 101% 101% 101%
100% 100*8
Commonwealth Elect 5s-1943 102*4 103 10278 103% 103% 103% 103%
103%
103%
103%
102%
103%
102*4
102%
102*4
102*4 102*4 103 102% 102% 102% 102% 102*% 102%
Cudahy & Co 5s
...1924
99% 99*4 99% 99*4 99% 99*s 99% 99% 99% 9934
Kansas C Ry & Lt Co 5s. 1913
98
98
98%
98%
98%
98*4
Knickerbocker Ice 1st Ss.1928 95
96
96
96% *9*6%
96
96
96
Lake St Elev 1st 5s
1928 73
81
80
85
90
90
84
84
90
91
90
90
90
90%
83
MetropWSIde Elev 1st 4s 1938 83
85
84
84
85
84% 85
84% 86% 85% 85% 85
85% 83% 85
83
84
83% 84% 83
84
83
Extension gold 4s
83% 82% 84% 82% 83%
1938 83
83l2 82% 83% 83
84
84
84
84%
84%
83%
83%
&
Co
Morris
81% 81%
4Hs
1939
80% 80% 80% 81
94*4 94*4 92% 93
NWQas Lt&C 5s
92*4 93
1928
92% *9*2*4 92
92% 92*s 93%
98
98% 99
98%
North West Elec 1st 4s. .1911 9214 95
98
9S%
93% 94% 94% 96
96% 96% 95% 96% 94
94
95%
94%
94%
96%
93
94%
95U
Ogden Qas 5s
95
1945 93
95% 94
94% 96%
95
9412 94% 95
95% 96
97% 97% 98
95
98
97
97
95%
95
97
96
96%
95
Pearson-Taft 5s
96%
95
1916
94% 95
100%100% 100% 100%
4.40s
97*8 ’97*8 96*4 97% 97
98
4.60s Series E
96
96
99*4 99*4 99% 9978
99
99
98
98
4.80s Series F
100%100%
People’s Qas L&C 1st 6s. 1943 120 120
12134 122 121% 121%
Refunding gold 5s
1947 103 103l8 103%104
103% 104 103% 104 103% 103% 103% 103% 103% 103% 103% 103%
Chic Qas L & C 1st 5s. 1937 104 104*g 104
103% 103*4 103% 103% 102%103 103% 103%
104% 104 104% 104 104% 104 104% 104 104% 104%
104% 104 105 10334 104 104 104% 104 104% 104% 104%
Consumers' Qas 1st 5s.l936
102
102
102%102% 102%102% 102%102% 102% 102% 102% 102*4
Mutual Fuel Qas 1st 5s..1947
102% 102% 102%102% 102 102%
101%101% 102 102
102 102
South Side Elev 4Hs.--.1924 9412 9514 9478 95%
101% 101% 101% 102
95% 96% 96
96*4 96% 96*8
95% 95% 94% 95% 94% 94% 93% 94*4 94
Swift & Co 1st gold 5s—1914 10012 101 l60%
94% 93% 94
101% 101%102 101% 101% 101% 101% 101% 101%
100
100
100
101%
101%
Union Elev (Loop) 5s—1945 92
100
100*4
95
95
100% 100% 100%
95
95
96
94% 96
95
95
United Box Board Coll 6s
88
88
70
70
75
75
70*4 75
77
80
80% 78
75
79
Do
76
79
do
Qen mtg 6s
80* *80%
80% 81
77
77
70% 77
81
79
79
80
78
80
78
SO
.
RAILROAD STOCKS.
Chicago City Railway....100 18478 185
Do
Do
Do
Do
Part Ctf Series 1
Part Ctf Series 2
Part Ctf Series 3
Part Ctf Series 4
Chicago & Oak Park
Do preferred
;
113
,
100
100
100
Chicago Subway
Chicago Union Traction-.100
Do receipts
Kansas City Ry & Light-100
Do
preferred
—100
Metrop W Side Elev....100
Do preferred
100
Northwestern Elevated..-100
Do preferred
100
South Side Elevated
100
Streets W Stable Car LineslOO
Do
preferred
100
115*4
185
112
190
113
4412 45*4 43
2778 30
28%
13
1312 12%
3
4
3%
9
1212 12
26
29% 25
45%
29
13
3%
13%
27
6
6*4
39% 39*4
79
17
47
21
63
50
80
17
50
23
65
56
2978 305s
97*2 9812
35
79
38
80
49' 49”
22% 22*4
65
50
65
55
2978 307g
97
97%
180
110
40
27
10
180
180
180
111
109% 110% 109%110 107 107% 110
43% 38% 41
38
39
36
38% 38
28
28% 27
26
28
25
12
10
9
10%
9% ’9% 10%
9%
3*4 4
3% 3%
3
3% 3%
3
2%
10% 12
13
10% 10% 12
10
25
28% 25% 27% 25% 28% 24_ 26% 16
6%
6%
37
42%
79
17
47
80
19
53%
21*4 22%
64
55
30
69%
60
30%
96% 98
41*4 81
81% 83%
17*4 19
48
50
83% 86%
50
51
50~
21%
69%
55%
29%
23%
70
24
69% 73
57
56
97
52
25
48% 51
85*4
17%
85
16
50
54
47
185
119% 110
40% 37
27
10%
2%
10
109*4 HO 103
38% 36
37% 35
24
24
24% 25
24%
9
9
8%
1*4 2%
1%
7
22%
19
52
48
49*4
81% 84%
15% 17*4
84% 85
16
47
110
18
49
20% 20%
48
20
70
24
7
6% 19*4
49
20
70
40
49
81% 82
15% 17*4
48
51*4
108
98
36*4
24%
10
1*4
5
5
4*4
9*8
40
80
42
82
100%
31% 35
20
9
20
9
4%
37
17
8
7*4
41
80% 83
16% 16% 16% 18
50% 53% 51% 54*4
18
185
9778 109
39%
10% 19
30
10
1%
2%
6
7
3%
5%
30
78
42%
78%
16% 19%
51% 59
17
18
70
69% 69%
57
63% 67
55
55% 57 53
46*4 52*4 52
52*4 51
33% 32% 47*4 48% 51*4 43% 50
41
47
43
47% 44
48% 46
47*4 47
100
102%105 105 107% 101% 103% 103% 104 102% 102% 102 102% 101% 103
105
69
54
61
56
54%
108
MISCELLANEOUS STOCKS.
American Can
100
77«
Do preferred
100 71*4
American Radiator
100 200
Do preferred
100 128
American Shipbuilding—100 571*
Do
preferred
100 104
American Strawboard.
American Tel & Tel Co
Booth Fisheries com..
8
914
73*8 72
20012 202
128
59
105
128
57
101
9%
77
202
128
58
105
8
8*4
73*4 76*8
202
128
55
106
202
128
55%
106
8% 11*4
74% 80%
203
128%129
54% 55%
104% 104%
Chic Brewing & Malting
Do
preferred
Chicago Pneumatic Tool..100
Chica go Tele phone
100
Chicago Title & Trust....100
Commonwealth Edison....
Congress Hotel
Corn Prod Ref Co com
Do
do
pref....
Diamond Match
100
Elgin Watch Co
Illinois Brick
100
Masonic Temple
State
Michigan
Tel Co com
Miiw & Chicago Brew pref—
National Biscuit
100
Do
preferred
100
National Carbon
100
Do preferred
100
People's Qas Lt & Coke. .100
Do
Rights
%
1
1*4 5
51% 56
26
127
117
107
52
*8
2
*4
51% 54
1
*4
2*4
53% 57
150
41
43
9778 109
17% 19%
73% 76
120 124%
Do rets
Do
preferred
Un Box Board & Paper Co
Do 3d assessment pd
Do full paid
Do preferred
Do 3d assessment pd
Do full paid
Western Stone..
150
40
44
43% 43%
45
42
100
120
86
112
110
98% 100
2%
100
100
58
1
100
1%
2%
4%
91
10% 10%
12% 12%
%
4%
101%
1
5
11% 12
15
15
150
150
126
60
123
60%
108% 103
11
55
%
%
% 2%
53% 68
60%
110
10
16*4
48
57
128
58
67%
107%110
15%
52
53
1
25
134
16%
99*4 101
1%
2%
3*4
3
8
10% 15*4
15
25
40
42%
%
2%
53% 55%
1
23
25%
132%134
126% 127 133
119% 117%121
149
20% 20%
103% 106% 104
121%124 122
82
86% 85
119
113
120
118
118
108
126
87
120
40
44
49
44
21
21
105% 107
121
90
116
125
94
118
114% 116% 112%116
76*4 88
87*4 95
92*4 95
113% 113*4 115% 113 116
102% 104% 103*g 110 107% 111%
109
130
100
132% 127% 132
129*4 130
101*4 100%103
1%
1*8
2%
734
3%
14
22
67*4
110
’63’
65%
110% 112
130
66
110
12
15%
82% 85%
132
67%
111
29
13% 14*4
80% 85
130
67
110
27
68
111
24
130
67*8 81%
110
111%
29%
142% 139% 144*4 139% 143% 140% 145 139%
27
20
24
19% 24
22*4 25*4 25
55%
54
61%
58
55%
54
55
53% 55%
23
132
140
1
62
143**4
40
35
20
58
23
20
65%
63% 67%
64% 75%
54
54
53% 54%
51% 54
1
2%
25
134
151
24
134
140
130
128
101
132
130
34
136
142
31% 33%
135%140
138
144
2%
30
136
142
39%
138
152
119%121% 119%121% 119*4 121% 119% 121
23% 25%
129
162
38% 40%
210
132
12% 13% 11% 13%
81
85
81*4 84
212 212% 212% 225%
%
2%
21
132
125
114
149
24
132
12% 13%
82% 85%
210
132
65
108
22
139
16
23
1
1
162
39% 41
120%120%
100
100
57
1
1®8
11% 12%
80% 83%
17% 19
19% 23%
24% 24% 24% 23% 23%
70% 77*8 79
81
88% 88%
121
122% 121% 122*8 122%129 124%129 126%130
104% 101% 106
118%120% 119 122*4
83
87
85% 86
110
110%119 119 119%
102
107
114% 109% 114*4
h
K
1
%
Sears-Roebuck common.. 100 55
60
57% 71% 69
80
Do
preferred
100 101 105% 105 112 108%
111*4
Swift & Company
100 100% 101% 10134 102*4
101% 103
Do
Rights
11
20
6
13
The Quaker Oats Co
100 119 130
127% 130 128 130
119
82
%
2%
2%
27% 25
23
26% 21
22% 24
128
127% 131*4 129%134 132 13334
119% 117% 126 119% 122 121 125%
108% 107 108*4 108 1117& 111%114%
18% 20%
75 -76%
117
122*4
38
43
55
104
11% 13%
80% 86
203
128%128%
10
Do
Do
do
Vot’gTrCtfs
do
pref
Booth (A) & Co.—
100
Do
preferred
100
Cal & Chic Canal & Dock.100
10% 14%
78% 83%
46% 51
146
22
50% 60
47
93
107% 106
127
12334
92
92%
117*4 U9 118
114%116% 115
91*4 98
112
108
116
109
135
135
152
150
102% 101*4 102%
97
114
109
47
93
109
106% 119%
127
99
125
95
20% 23%
86% 86%
126%129
58
45
110
69
45
110
113
125
97
119
117
127
2%
39%
137
143% 147
118
11934
21% 23%
125
128
60% 69
44
20
114
124
36% 42
134
143
117
146
138
146
119%
146
20% 23*8
12478 127
67% 88%
45%
20
116*4 114% 118%
127
120%125
100
95*4 97
97
108%
120
120
118% 119%
120
124
120
123%
119% 114% 116*4 114%116% 113 116% 112% 110%
130
97
104% 101%121% 117% 144% 137% 14234 141% 169%
116*4 113 116% 116 12134 120 120% 120 121*4
114% 109 111% 108 110 108% 109
108% 112%
143% 150
102*
24%
130*4 12634 128
48% 53
104
124
90
146
38
135
1
103%
144
145
102
146
149
103
144
150
149
161
160
146
147
155
158% 155
10H 2 102*4 102% 104% 103
162
161
105
734
15*4
25
13% 15%
22% 23*4
14
22
16%
14*8
22
18
10%
19%
13% 14%
13%
16
20
20
15
20
161*
20
15*4 20
18*8 20
14%
16%
17%
18%
Jan. 29
277
THE CHRONICLE
1910.]
BANKERS AND TRUST GO’S.
ITEMS ABOUT BANKS,
petitors undue knowledge of affairs. It is the intention to
circulate the resolution among all the corporations of the
State for indorsement, and to forward the protest to Wash¬
public sales of bank stocks this week aggregate 90
shares, of which 19 shares were sold at the Stock Exchange
and 71 shares at auction.
The transactions in trust company ington.
—Secretary of the Treasury Franklin MacVeagh on the
Fifty-six shares of Mer¬
stocks reach a total of 74 shares.
chants’ National Bank stock were sold at 184>g-185, an ad¬ 26th inst. submitted to Congress measures for modifying
the law with regard to the issue of United States bonds and
vance of 21 points over the price paid at the last previous
public sale, which was made in August 1909. A sale of 5 certificates of indebtedness, and for fixing the tax rate on
shares of N. Y. Life Insurance & Trust Co. stock at 1120 national bank-note circulation, to maintain the parity of
the existing 2% issue of bonds.
The proposed Act governing
shows an advance of 9points over last month’s sale price.
Low.
High. Close. Last previous sale.
Shares. BANKS—New York.
the circulation tax is as follows; it will be observed that in
200
200
Jan. 1910— 196 H
*1 Commerce, National Bank of. 200
the event of the issue of 3% obligations and their use as se¬
205
203
203
Jan. 1910— 202
571
Jan.
1910—
565
Yt 571 H
curity for bank circulation, the circulation tax would be
4 Imp. & Traders’ Nat. Bank.. 571 M
171
171
Oct. 1909— 185
5 Mercantile National Bank— 171
1^2% per annum, as against only %% on the 2 per cents:
184
185
185
1909— 163
—The
.
56 Merchants’
X
National Bank...
■
130
.
130
130
H
Aug.
May 1909— 141
Tew York.
301
Knickerbocker Trust Co. *— 300 H 301
300 1 300
10 Lawyers’ Title Ins. & Tr. Co. 300
.1120
1120
1120
5 N. Y. Life Ins. & Trust G
558
558
558
6 Title Guarantee & Trust Co.
351
351
351
5 Trust Co. of America
48
.
.
_
.
x
Be It enacted, &c.,
That the rate of tax on national bank
circulation secured by bonds of
of Interest greater
the United States hereafter deposited, bearing rates
July 1909—
Jan.
347
1910— 303
Dec.
1909—1110 H
Dec. 1909— 575
Dec. 1909— 355
than 2% per annum, whether the particular
tofore been used to secure circulation, shall
be Increased over the tax on
one-fourth of 1% each half year for each
one-half of 1% excess over 2% In the rate of Interest borne by
circulation secured by 2% bonds,
and every
such
bonds.
—Some half-dozen of the suits
brought to test the consti¬
tutionality of the Corporation Tax Law are now before the
Supreme Court. One of these, as stated a week ago, is the
Vermont case, brought against the Stone, Tracy Co. of Wind¬
sor.
Two other cases referred to last week, those against the
directors of the Northern Trust Co. of Chicago and the Corn
Exchange National Bank of Chicago, have also been filed in
the Supreme Court.
In both these instances the Federal
Circuit Court sustained the demurrers filed by the defend¬
ants and granted appeals to the higher Court.
Two suits
have also been carried from the New York Court to the
introduced in the House
Thursday by
Representative Yreeland.
The other Act, intended to remedy defects in the law re¬
garding United States bonds and certificates of indebtedness,
and which was introduced in the House on Thursday by
Representative Payne, reads as follows:
The above
Free stock.
bonds have or have not here¬
was
on
Be It enacted, &c.,
That any
bonds and certificates of indebtedness of the United States
hereafter Issued shall be payable, principal and Interest, in
United States
gold coin of the present standard of value, and that any such bonds may be
issued in such denominations as may be prescribed by the Secretary of the
Treasury.
,
That any certificates of Indebtedness hereafter Issued shall be exempt from
all taxes or duties of the United States, as well as from taxation In any form
by or under State, municipal or local authority; and that a sum not exceeding
one-tenth of 1 per centum of the amount of any certificates of indebtedness
issued Is hereby appropriated, out of any money in the Treasury not other¬
wise appropriated; to pay the expenses of preparing, advertising and issuing
Supreme Court, namely one brought by Wyckoff Van Derhoef,
stockholder, against the Coney Island & Brooklyn RR.,
who asks that its directors be restrained from paying the
the same.
tax on the ground of unconstitutionality; and the other insti¬
In explanation of this latter Act, Secretary MacVeagh
tuted by Francis L. Hine against the Home Life Insurance
Co.
Demurrers entered by the defendants in both cases says that existing authority for the Panama Canal bond issue
prescribes that they shall be issued in denominations of $100,
were upheld by Judge Hand in the U. S. District Court at
There should be added authority, he
New York, appeals thereupon being taken to the Supreme $500 and $1,000.
to
issue
the
thinks,
bonds in denominations of $5,000 or
Court.
In the case brought against the Coney Island &
otherwise the labor of issuing registered bonds in
Brooklyn RR. two of the points raised are as to “whether $10,000,
large
amounts
would be greatly increased. Furthermore,
Congress has power to tax franchises granted by a State to a
under existing law provision is made for payment of the in¬
public service corporation, and whether a larger tax can be
terest on the Panama bonds in gold eoin, but no provision
imposed upon a corporation whose indebtedness exceeds the
is made for payment of the principal in such coin.
Then,
amount of its paid-up capital stock than upon other corpora¬
tions engaged in similar business whose capital stock exceeds also, the law as it now stands, in providing for the issue o*
certificates of indebtedness to meet public expenditures,
their indebtedness.”
does not contain the usual provision exempting the certifi¬
In the U. S. Circuit Court at Toledo on the 26th a suit
cates from taxation, and there is no appropriation to meet
brought against the American Multigraph Co. of Cleveland
the expenses of preparing and issuing the certificates. The
by a stockholder was dismissed, the Court sustaining the de¬
above Act would remedy these various defects.
murrer of the company, and it was stated that the case would
In a letter accompanying the proposed measures, Secretary
immediately be taken to the Supreme Court.
At a meeting of the executive council of the Illinois Bank¬ MacVeagh says:
a
ers’ Association at
Chicago on Wednesday, at which sixty
bankers from various parts of the State were present, the
corporation tax came in for criticism, and a committee was
appointed to co-operate with the Clearing-House Association
in instituting a test of the validity of the law.
The com¬
mittee consists of Oscar G. Foreman, President of the Illinois
Bankers’ Association, Chicago; E. E. Crabtree, Jacksonville,
Ill.; B. F. Harris, Champaign, and R. L. Cramp ton, Chicago.
The inheritance tax law of Illinois was also attacked at the
meeting, and Chairman B. F. Harris of the executive coun¬
cil was authorized to name a committee to investigate the
subject, and, if they deem it advisable, to advocate a repeal
of the law.
It was decided to hold the next meeting of the
Association at Cairo.
circulars
to commercial bodies
urging an appeal to Congress for the
repeal of the Corporation Tax Law.
At the annual convention of the Indiana Manufacturers’
& Shippers’ Association at Indianapolis this week the repeal
was
advocated.
A
protest against the publicity feature of the law is re¬
ported as under way by Rhode Island manufacturers. A
resolution has been passed by the Providence Board of Trade
in which it is declared that the
provision is prejudicial to the
interests of the corporations, in that it proposes to make pub¬
lic details of private business transactions, thus giving com¬
half-year upon the
amount of notes in circulation.
The tax on all other Issues of
United States bonds Is at the rate of one-half of 1 % each half-year of the
average
average
amount of notes in circulation.
discrimination against the $730,000,000 of out¬
standing 2% bonds. As these bonds are only slightly above par, and as
authority now exists for the Issue of bonds for the construction of the
Panama Canal to bear not exceeding 3% interest, the Issue of any consid¬
erable amount of such new bonds, which, under the existing law, would be
available as a basis for circulation at a tax of only 1 % per annum, would
cause them to be considered a much more desirable Investment than the
These rates operate as a
existing 2% bonds, and would doubtless cause the 2% bonds to decline in
probably below par.
exceedingly important that the market value of these 2% bonds
should be maintained at above par, since any decline below par would
the market
It is
probably oblige the Comptroller of the Currency to call on the banks em¬
ploying such bonds as a basis for circulation to make good the deficiency.<
—The
The Illinois Manufacturers’ Association has issued
of the tax law
The tax on circulation now based on 2% consols of 1930 and 2% Panama
Canal bonds is at the rate of one-fourth of 1% each
following order, bearing
on
the decision of Attorney-
General Wickersham under which interest
on
United States
bonds is held liable to the
provision of the tariff law which
imposes a tax of 1% on the net income of corporations, has
been issued by Internal Revenue Commissioner Cabell:
In view of the fact that the tax Imposed by Section 38 of the Act of
Aug. 5 1909 Is not upon the property or Income of corporations, jointstock companies, &c., but is a special excise tax, to be measured by the
annual net income of such corporations, &c., it is held, conformably to the
opinion of the honorable Attorney-General, to whom the question has
been submitted:
That, in computing the amount of the gross Income, corporations owning
United States bonds should include the interest received thereon, and that
such Interest should not be deducted from the gross income for the purpose
of ascertaining the net inoome, which serves as a basis for computing the
amount of taxes to be paid.
278
THE CHRONICLE
—National
bank
examiners are forbidden to ask the
assistance of bank clerks in clerical work attendant
upon ex¬
amination of institutions, under instructions as follows issued
city, and a
Co., in an address
delivered on Wednesday before the Finance Forum of the
West Side Y.M.C.A.
The pith of Mr. Rhoades's remarks
is found in the
concluding portion of his disoussion, in
which he declared that
This office has been advised from various sources that
a
number of
national bank examiners make a practice of
asking the assistance of clerks
employed by banks under examination. An order has, therefore, been
Issued by the Comptroller of the Currency and sent to each
examiner,
advising them that under no circumstances should clerks employed by banks
under examination be permitted to assist in
cash;
The invasion of the
banking field by the Government of the United States
Is uncalled for, constitutes a
potential menace, and should be avoided.
Individual activity has been the basis of our
national suooess; supplant it
listing and
verifying loans and discounts; verifying certificates of deposit or cashier’s
checks or taking trial balances of the individual
ledger, and that the listing
by exclusive Government management,
through Government ownership,
and we crush personal
ambition. I believe that the highest well-being of
the nation demands that we
leave the business undertaking to the business
man, the banking proposition to the
banker, and, if need be, that we place
all seml-publio service under
limited State or Federal
of overdrafts and data of any kind furnished
by officers or employees of
banks under examination must always
be checked by the examiner or his
assistant with the original records of the bank from which such data
is
taken.
we will not
comes to us
Deposit
Guaranty law was virtually declared unconstitutional, was
granted by the same Judge on the 19th inst. State Attorney-
destroys his independence
General F. S. Jackson filed the appeal,
alleging in his petition
that the U. S. Circuit Court had no jurisdiction and that a
manifest error was committed by
The statement that the bank
cently borrowed 5,000,000
the National Bank of
re¬
from a Canadian bank and
Mexico, in the interest of a local cor¬
pesos
poration, and was unable to meet the obligations when due,
among the reports circulated this week.
Mr. Ham, who
was the organizer
of the bank, is said to be in a sanitarium,
suffering from overwork. Afonso Arriagara has been ap¬
pointed receiver of the suspended institution, and James
Forsyth has been named as Supervisor.
—The two systems providing for
the insurance of deposits
in Texas—one offering protection
through the guaranty fund
and the other under the bond
plan, which calls for the filing
with the State Commissioner of
Banking & Insurance of a
bond or other guaranty of
indemnity equal to the capital
of the bank—became operative on the 1st inst.
The law un¬
der which these systems operate
was passed last May, and
the banks are obliged to
adopt one or the other of the plans.
A statement with regard to the status of the
guaranty-fund
system was issued as follows by Commissioner Love on the
was
3rd inst.:
The guaranty fund consists at this time of
$359,696, of which one-fourth,
approximately $90,000, is deposited in cash with the State
Treasurer,
and the remaining three-fourths is
deposited pro rata with the various
banks belonging to the guaranty fund
system, subject to check upon the
order of the State Banking Board.
In addition to this cash
fund, the Bank¬
ing Board has the right to assess guaranty fund banks not
exceeding 2%
of their aggregate deposits during any one
year whenever this may be neces¬
sary for the payment of losses to depositors of
non-interest-bearing balances
n guaranty fund banks.
There is, therefore,
approximately $1,170,000
subject to the immediate use of the State Banking
Board for the payment of
claims due such depositors in closed State
or
banks.
A national bank—the Commercial
National Bank of Sher¬
man—it is reported, has decided to take
advantage of the
bond provision of the law.
—Commissioner Love of Texas under date of
Dec. 30 also
promulgated the following, putting a bar to the payment of
over
3% interest
on
deposits:
From and after this date no bank will be
approved by this Department
the reserve agent or depository of any State bank
In case It pays or has
contracted or agreed to pay to the depositing bank
interest on Its
as
at a rate
balances
higher than 3%
per annum; and on and after
April 1 1910 all
reserve agents heretofore made by this
Department will be re¬
voked In all cases where such reserve agents are
approvals of
paying interest
at a
higher rate than 3%
—An
argument
savings banks
was
on
balances
per annum.
against the establishment of postal
presented by John Harsen Rhoades,
and his
initiative, and invites
him to fall back
upon the government for assistance in
poverty and old age. Any scheme which savors of paternal¬
ism, he added, is wholly antagonistic to the genius of Ameri¬
can
tradition. In urging that the Government should
refrain from
conducting a banking enterprise, Mr. Harsen
took occasion to state that “the one
great business which the
Government reserves for itself—the Post Office—is not
a
conspicuous success. On the contrary, it shows a deficit."
Arguing from this, he said, is it unfair to assume that if the
Government undertook to conduct a postal
savings system,
it would be
equally unfortunate? How can it be demon¬
a
stitution's difficulties.
supervision. Thus
only procure the better service but develop the better man.
Mr. Rhoades pointed out that the
postal savings bank
from abroad, where it is
legitimately in line
with the theory of
paternal government, which instead of
encouraging the individual to work out his own salvation,
—An appeal from the order issued
by Judge Pollock of
Kansas on Dec. 24, under which the Kansas Bank
Judge Pollock in granting
temporary injunction preventing the State Bank Com.
missioner from enforcing the law.
—An appeal in the Nebraska Deposit
Guaranty case was
filed by Attorney C. O. Whedon on the 17th inst. The law
was declared invalid by
the Federal Court last October, and
it is the intention to have the United States
Supreme Court
pass upon its Constitutionality.
—The United States Banking Co. of Mexico
City, Mex.,
closed its doors on Wednesday,
following the failure, it is
stated, to meet its previous day's obligations to the Clearing
House, which had extended the time of settlement to Wednes¬
day morning. A run, said to have been started when it
became known that George I. Ham had
resigned the presi¬
dency of the bank, began on Monday afternoon, and was con¬
tinued on Tuesday.
The bank has $2,000,000 capital.
Most of its stock, it is said, is held
by Canadians. It is re¬
ported that over-extensions of loans in connection with the
Mexican National Packing Co. are
responsible for the in¬
LXXXX.
trustee of the Greenwich
Savings Bank of this
member of the banking firm of Rhoades &
by Comptroller of the Currency Lawrence O. Murray:
counting
[VOL.
strated that it would be otherwise?
In this
era
mental
of govern¬
extravagance, he continued, deficits continually
confront us.
The greater the taxation, the
bigger the
deficit. The bigger the
deficit, the greater the taxation.
With the prevailing
tendency, is it judicious, especially at
the moment, to entrust our Government
with another
business enterprise, he well asks.
—The week of October 3—3 to 7—has been selected as
the
time for
holding the 1910 meeting of the American Bankers'
Association by the executive committee
appointed to decide
the matter.
The gathering, as is known, will take
place at
Los Angeles.
The time chosen was thought to be the most
desirable for a convention on the Western
coast, being at a
season of the
year when traveling is comfortable; and be¬
sides it will give the benefit of tourists' rates to those who
wish to attend.
The matter of
inviting those who will make
principal addresses at the convention is now under con¬
sideration, and in anticipation of future legislation affecting
banking and currency, speakers will be selected who are in a
the
position to give the fullest information
on these
subjects.
While the date has not been decided
upon for the spring
meeting of the executive council, the sessions will undoubt¬
edly start
New York
on Monday, May 2, at
City
some resort
adjacent to
—The New York Stock
Exchange announced on Saturday
on
February 2 by its Govern¬
ing Committee on the report made by the sub-committee
appointed to investigate the failure of Lathrop, Haskins
& Co., and the circumstances
surrounding it. The sub¬
committee consisted of A. N. Cahoone, Francis L.
Eames,
and Ernest Groesbeck.
The Exchange has also announced
that the report of the sub-committee with
respect to the
affairs of J. M. Fiske & Co., will be taken
up for action by the
Governing Committee bn February 9. The suspension of
the two houses, together with that of Roberts, Hall &
Criss,
resulted, as noted last week, from the collapse on the 19th
inst. in the common stock of the Columbus &
Hocking
Coal & Iron Co.
Still another statement issued by the Ex¬
change (on the 27th) says:
last that action would be taken
The reports to the Governing Committee
yesterday and on Jan. 22 were
from the Committee on Insolvencies regarding the suspension of
the firms
of Lathrop, Haskins & Co. and J. M. Fiske & Co.
The Governing Committee yesterday appointed a
special committee of
five, consisting of Messrs. Eames, Groesbeck, Atterbury, Pomroy and
Rodewald, with instructions to Investigate transactions in securities be¬
tween any member of the Exchange, or firm
represented therein, and either
all of the firms who
announce^ their inability to meet their engagements
Jan. 19 and 20, whether said transactions were had at or about
the time
of said announcement, or at any time prior thereto, and to make
prompt
or
on
report thereon to the Governing Committee.
A
suit
for
the
recovery
of $23,800, alleged to have
brought this
been lost with the collapse in the stock, was
week by Howard H. Taylor against Albert
J.
Elias
&
Co., Day, Adams & Co., Jewett Brothers, Rollins & Co.,
J. M. Fiske A Co.,
279
THE CHRONICLE
Jam. 29 191k i
and Lathrop, Haskins & Co., all of
and Lehman have also become members of
the executive
alleged to have been members of the pool inter¬ committee, succeeding Mr. Day and the late Dumont Clarke.
—For a company which started business less than three
ested in the stock.
Receivers for the three concerns com¬
years
ago during the panic year, the Fidelity Trust Co.,
prising the Columbus A Hocking Coal A Iron interests were
named on the 25th.
A. L. Thurman and William A. Bar¬ corner of Chambers St. and West Broadway, has made an
bour have been appointed receivers for the Columbus & enviable place for itself in the banking business of the
Hocking Coal A Iron Co.; A. T. Seymour is receiver for West Side wholesale district. The institution has grown
the Columbus & Hocking Clay Construction Co., and F. N. steadily since it opened May 22 1907, despite the fact that
Sinks, receiver for the Columbus & Hocking Brick Manu¬ several large Broadway banks are within a short walking
distance of the Fidelity Trust Co. and there is a large con¬
facturing Co.
—A resolution approving an agreement for the amalga¬ solidated bank and a newer bank competing for the business
mation of the Bradford Banking Co., Ltd., with the London of this locality. In brief, its deposits have increased from
City A Midland Bank of London was adopted by the share¬ $3,016,524 on Dec. 31 1907 to $5,177,550 Dec. 31 1908 and
holders of the first-named institution on Dec. 22. The direc¬ then to $6,602,632 Dec. 31 1909, while undivided profits
were $171,484 on the latter date in addition to $750,000
tors of the banking company will act as a local advisory
committee of the London City & Midland Bank for five years. capital and the same amount of surplus. The company
paid its first semi-annual dividend of 3% Dec. 31 1908, the
—A cable dispatch from Berlin, under date of the 27th
second July 31 1909 and the third Dec. 31 1909, when an
inst., states that Arthur von Gwinner, Director of the extra dividend of 1% was declared. Samuel S. Conover
Deutsche Bank, has been made a member of the Prussian is President and Andrew H. Mars Secretary.
whom
are
House of Lords.
of the late Philip
Mr.
von
Gwinner’s wife is the daughter
Speyer, the founder of the firm of Speyer
A Co. of New York.
Co. of this city,
who on the 19th inst. took action toward increasing the
capital from $2,000,000 to $3,000,000, this week approved
the proposition to enlarge the capital to $5,000,000.
The
merger of the Morton Trust and the Fifth Avenue Trust
companies with the Guaranty Trust was also ratified by the
respective stockholders on Tuesday of this week. The plans
therefor have heretofore been given in these columns.
The
$1,000,000 stock authorized last week by the Guaranty is
offered pro rata to its shareholders of record Jan. 19.
Of the
$2,000,000 issue, $1,500,000 will go to the stockholders of
the Morton Trust (capital $2,000,000) and $500,000 is al¬
lotted to the stockholders of the Fifth Avenue Trust Co.,
capital $1,000,000. The office of the latter is continued as
an uptown branch of the Guaranty Trust.
The consolida¬
tion went into effect on Thursday, and the enlarged Guaranty
starts under the following management: Alexander J. Hemp¬
hill, President; Charles H. Allen, Max May, Lewis B. Frank¬
lin and H. M. Francis, Vice-Presidents; C. D. Landale,
Manager of the Fifth Avenue branch; William C. Edwards,
Treasurer; E. C. Hebbard, Secretary; James M. Pratt and
F. C. Harriman, Assistant Treasurers; William F. H. Koelsch
and Walter Meacham, Assistant Secretaries; F. J. H. Sutton,
Trust Officer, and J. I. Burke, Assistant Trust Officer.
Messrs. Allen and Francis were identified with the manage¬
ment of the Morton, and Messrs. Landale, Pratt and Meach¬
—The stockholders of the Guaranty Trust
am
with that of the Fifth Avenue.
proceedings of the 1909 annual convention of the
being dis¬
tributed in volume form by Secretary William J. Henry of
White Plains, N. Y. The meeting was held at Saratoga
Springs on July 15 and 16, and mention of the event ap¬
peared in our issue of July 17.
—The
New York State Bankers’ Association are now
—John W. Platten
was
yesterday elected President of the
United States Mortgage & Trust Co. of this city, a position
which has been vacant since the death last July of Cornelius
Mr. Platten had heretofore been First ViceJames Timpson, Vice-President of the Mutual
Life Insurance Co., has been elected Chairman of the execu¬
tive committee of the United States Mortgage & Trust.
The number of directors of the latter has been increased to
twenty-four, and the following have been elected to the
board: Lewis L. Clarke, President of the American Ex¬
change National Bank; Adolph Lewisohn, President of the
United Metals Selling
Co.; Henry Tatnall, Vice-Presi¬
dent of the Pennsylvania RR., and Paul M. Warburg, of
Kuhn, Loeb & Co. Henry R. Ickelheimer and L. C.
Krauthoff have been elected members of the executive
C. Cuyler.
Presidents
committee.
—Beginning with the first quarterly payment this year, the
city will be placed
on a 10% basis, the directors having declared a quarterly
dividend of 2%%t payable Feb. 1 to holders of record
Jan. 27.
This is an increase of 2% in the yearly rate. The
stock of the Lincoln National Bank of this
reported on Jan. 15 1910 surplus and undivided
profits of $1,422,691 and deposits of $22,317,763.
—The liquidating committee of the Beaver National Bank
of this city, namely George Mercer Jr. and William E. Mo
Reynolds, have announced the declaration of a dividend of
$10 per share, payable to stockholders Jan. 20 and 21.
With
the amount previously disbursed, $50 per share, the total
thus far is brought up to $60. The bank began business in
April 1907 and was placed in voluntary liquidation in Janu¬
institution
1908.
ary
—A decision
United
States
handed down by Judge Hough in the
Circuit Court on the 22d inst. quashing,
was
the latest indictment returned
against F. Augustus Heinze
on which he was arraigned on the 5th inst). charging
misapplication of funds of the Mercantile National Bank
of this city.
The legality of the indictment was attacked
on the ground that John P. Fernsler, who aided the Grand
Jury in the examination of books and witnesses, was an
employee and not an officer of the Department of Justice,
whereas the law provides that the Attorney-General, or any
official of the Department of Justice, might be chosen to con¬
duct or aid in proceedings before a grand jury.
Judge Hough
in dismissing the indictment upheld the contention that
Mr. Fernsler is not an officer, but an employee, of the De¬
partment of Justice. Judge Hough yesterday denied the
motion to quash the indictments in which Mr. Heinze, San¬
ford Robinson, Arthur P. Heinze, Calvin O. Geer and Carlos
Warfield are charged with conspiracy to obstruct the admin¬
istration of justice in the removal of books of the United
Copper Co. Arguments on the demurrers will be heard
Feb. 7.
Judge Hough has set March 7 as the date for the
trial of Mr. Heinze on two indictments still standing against
him individually.
These have been consolidated and are
(and
the
said to
concern
the over-certification of checks of the firm
of Otto Heinze & Co. and the
misapplication of funds of
the bank.
Endemann, former paying teller of the Houston
who was
arrested last June charged with the larceny of funds of the
bank, was sentenced on the 17th inst. to not less than four
—Paul
Street branch of the Jefferson Bank of this city,
than eight years and six months. Endemann
pleaded guilty, it is said, to having appropriated more than
$50,000.
years nor more
—H. Ward Ford has been elected President of the
First
National Bank of Morristown, N. J., succeeding the late
Albert H. Vemam.
Mr. Ford is Vice-President and Treas¬
urer
of the Windsor Trust Co. of New York.
J.,
opened
business
two
weeks
ago
Ave.
for
on
Bloomfield
The
in the Lawyers’Title
taken over by Gold¬ town of Caldwell is situated in the mountains of Essex
man, Sachs A Co. and Lehman Brothers, Henry Goldman, County, four miles from Montclair, and has a population of
Philip Lehman and Adolph Lewisohn have been elected 2,700. It is the birthplace of the late Grover Cleveland and the
directors of the Lawyers'. They succeed William A. Day, suburban residence of a number of New York business men.
H. R. Winthrop and Richard G. Babbage. Messrs. Goldman Until the Citizens' National started business, the Caldwell
—In accordance with
the announcement made several
weeks ago, when a large block of stock
Insurance A Trust Co. of this city was
—The
new
Citizens’ National Bank of Caldwell, N.
THE
National
at the
Bank, established
present time,
James S.
-National
CHRONICLE
was
in 1904, with $300,000 deposits
the only institution in Caldwell.
Morristown, N. J., Samuel
Freeman, President, continues its record of prosperity.
During a history of seventeen years’ existence since Dec. 15
"
:
'
directors.
Y.,
20,
received
authority on the 20th inst. from the State Banking
Department to conduct business. The company has been
formed with $200,000 capital. Frank D. Newell is President
and Theodore R. Tuthili, Secretary.
Vice-President James
S. Sherman is
—At
one
of the directors of the institution.
special meeting of the directors of the Lincoln
National Bank of Rochester, N. Y., on
Wednesday, Walter
B. Duffy was elected President to fill the
vacancy created
through the recent death of Eugene Satterlee. Mr. Duffy
was
a
First
Vice-President, and with his promotion Charles H.
Babcock and Edward Bausch, heretofore Second and
Third
Vice-Presidents, respectively, take rank as First and Second
Vice-Presidents. Peter A. Vay, in addition to
retaining the
cashiership, has become also Third Vice-President. William
B. Famham and Edward F. Pillow continue as
Assistant
Cashiers and Robert Bannard continues as Auditor.
—Robert D. Muir, late Treasurer of the
People’s Bank &
Trust Co. of New Haven,
Conn., was sentenced on the 13th
inst. to from one to five years’
imprisonment, having pleaded
guilty, it is said, to the conversion
worth of the bank’s securities.
to his
of $106,000
$23,000, stated
own use
A deficit of
to .have been discovered
during the absence of the accused
from the institution, was said to have been
made good last
by the stockholders. Subsequently some of the in¬
stitution’s securities were reported to have been found
miss¬
ing, and while these are understood to have been
recovered,
the State’s attorney was instructed
by the State Bank Com¬
missioners to bring a complaint.
—A dividend in liquidation of
40%, or $40 per share, was
declared payable Jan. 22 to the stockholders
of the Metro¬
politan National Bank of Boston', whose business was
merged
month
some
months ago
with that of the Atlantic National Bank.
A total distribution of $160
per share has been made, it is
said, including the latest disbursement.
—A charter has been
granted to the organizers of the
Paul Revere Trust Co. of
Boston, Mass., which is to be
formed with $200,000 capital and
$25,000 surplus.
Pynchon has been promoted from the cashiership to the presidency of the Chicopee National Bank
of Springfield, Mass.
Mr. Pynchon has been connected with
the institution for
thirty-five years. The vacancy in the
presidency occurred last August with the death of Arthur
—Edward
B. West.
In the meantime the duties of
the office had been
performed by Charles L. Goodhue, who had consented to
until the annual
meeting. Leander W. White succeeds
Mr. Pynchon as Cashier.
8erve
—The
•
»
larceny of $21,000
institution’s funds, and was released under
$50,000
bonds. The bank was
incorporated in 1848. The deposits
in its last report were
$2,368,799.
—A dividend of
50% has been paid to the depositors of the
Waterville Trust Co. of Waterville,
Me., which closed its
doors last May.
A little over half a million dollars is repre¬
sented in the distribution.
and
are
—The Broome County Trust Co. of
Binghamton, N.
mention of which was made in these columns Nov.
'
of the
1892, the institution has paid $1,707,998 alone in interest
depositors. • Between Dec. 31 1908 and 1909 deposits
—George H. Earle Jr., in a desire to curtail some of his
have risen from $5,272,616 to
$7,554,197,surplus and profits numerous
activities, has retired from the presidency of the
from $1,502,902 to $1,540,471
and aggregate resources Market
Street National Bank and the Tradesmen’s National
from $7,381,088 to $9,709,424.
The Morristown Trust Co. Bank of
Philadelphia. Mr. Earle has also been the chief
allows 3% interest on deposits
subject to check payable in executive of the Real
Estate Trust Co. since its
New York funds.
reorganization,
Several New York financiers who have
their residences in Morristown
*
week’s seclusion, surrendered himself to
police at Worcester on the 27th. He pleaded not
in Court to the charge alleging the
a
the State
Bank, was: active in organizing the Citizens' guilty
and James S. Throckmorton Jr., Cashier.
—The Morristown Trust Co. of
LXXXX.
Hall, Treasurer of the institution, and Town
Treasurer, after
Throckmorton, formerly Cashier of the Caldwell
National, whose capital is $25,000. Its officers are: Lewis
G. Lockward, President; Cyrus B.
Crane, Vice-President,
'
John A.
[VOL.
Southbridge Savings Bank of Southbridge, Mass.,
was closed on the 21st inst.
following the issuance of a
temporary injunction by Judge Loring of the
Supreme Court,
on the
application of Attorney-General
Malone, who acted
at the
request of State Bank Commissioner
Chapin. A
given out by the latter wth regard to the
closing
statement
says:
The examiners from the Bank
Commissioner’s Department have been in
past two days, at the request of the
trustees, to examine
the condition of the Southbridge
Savings Bank, and although they find
that the cash, securities and loans of the
bank agree absolutely with the
report of the Treasurer, they find such a
discrepancy between the de¬
positors’ ledgers and the statement of deposits as
submitted by the Treas¬
urer that they have obtained a
temporary injunction until Its exact condi¬
tion can be ascertained. The services of an
expert accountant have been
engaged to enter immediately upon the work.
Southbridge the
the pressure upon his time in
connection with
the
management of that institution, as well as other functions
which devolve upon
him, has brought about his decision to
relinquish a portion of his business cares. He will continue in
the management of both banks as
First Vice-President.
James F. Sullivan, who has been First
Vice-President of the
Market Street National
Bank, has been elected President
of that bank.
August B. Loeb is the new President of the
Tradesmen’s National Bank. He was First
Vice-President
of the
institution.
—Richard H.
tional Bank of
Rushton, President
Philadelphia, died
of the Fourth Street Na¬
on the 22d inst. in his
Bellevue-Stratford. Mr. Rushton’s
apartments
at the
death is attributed in large
part to the shock he suffered on
Jan. 5 1907, when the interior of the bank was
wrecked and
Cashier William Z. McLear was killed
by a bomb thrower,
President Rushton narrowly
escaping the fate of Mr. Mc¬
Lear.
Mr. Rushton was bom at
Dalton, Ga., on June 8
1851.
He had been a resident of
Philadelphia since 1870.
In 1872 he entered the
employ of the Commercial National
Bank of that city, becoming its Assistant Cashier in
1878.
He continued with the institution until
1885, when he helped
to organize the Tenth National Bank.
The following year,
with other influential bankers, he established the
Fourth
Street National Bank.
Mr. Rushton
was
made Cashier of
the
institution, subsequently becoming Vice-President, and
July 1902 succeeding Sidney F. Tyler, resigned, as Presi¬
in
dent.
Mr. Rushton was the first President of the
Pennsyl¬
vania Bankers’ Association.
He was a member of the Coun¬
cil of Administration of the American Bankers’
Association
and Chairman of the local
Clearing-House Committee. E. F.
Shanbacker, First Vice-President of the bank, has been
chosen to replace Mr. Rushton in the
presidency.
—Holstein De Haven, President of the Real Estate Title
Insurance & Trust Co. of Philadelphia, died on the 20th inst.
He was sixty-seven years of age.
Mr. De Haven became
President of the company four years ago.
rector of the Inter-State
He
was a
di¬
Railways Co.
—The par
value of the stock of the Franklin Trust Co.
Philadelphia, Pa., has been increased, it is reported, from
$10 to $50 per share. John C. Caine has been elected a
of
Vice-President of the institution.
—A 10% dividend was paid last week by Receiver Robert
Lyons of the Allegheny National Bank of Pittsburgh to
the depositors.
The total payments thus far are reported
as 75%.
The latest distribution was made possible through
the sale, recently effected, of the bank’s building at 239 Fifth
Ave. at $277,500. The institution suspended on
May 18
1908.
—Louis S.
Zimmerman, who has been acting President of
Maryland Trust Co. of Baltimore since the resignation of
Grier Hersh in January 1908, was regularly elected President
of the company on the 24th inst.
Mr. Zimmerman has been
the
identified with the institution since its establishment in
1895, and was elected Secretary at the time of its reorganiza¬
tion in 1905. Henry C. Matthews has been chosen to the
directorate of the institution to take the place of G.
Clymer
Brooke, who
was
unable to accept re-election.
—Herbert H. Owens has become an Assistant Cashier of
the Farmers' & Merchants’ National Bank of Baltimore.
Mr. Owens had been general bookkeeper of the institution.
—Owing to> ill-health, Isaac H. Dixon resigned on the 13th
inst. as Vice-President of the National Union Bank of Mary-
Jan. 29
CHRONICLE
1910.]
281
—Owing to the pressure of other business affairs, R. Brinkley
Vice-President of the Bank
ate of the institution.
of Commerce & Trust Co. of Memphis at the recent annual
—The stockholders of the Fifth-Third National Bank of
meeting. The following officials were re-elected: O. H. P.
Cincinnati, Ohio, approved the question of increasing the
Piper, President; T. O. Vinton, Vice-President; James H.
capital from $2,700,000 to $2,750,000 on the 22d inst. Fisher, Secretary; E. L. Rice, Cashier; S. Z. Shepard, Trust
The issuance of new stock results from the absorption by the
Officer, and G. A. Bone, Auditor.
bank of the banking house of S. Kuhn & Sons, reported in
—The stockholders of the Dollar Savings & Trust Co* of
these columns Jan. 15.
Wheeling, W. Va., on the 17th inst. voted favorably upon a
—The Wendell State Bank of Chicago recently succeeded
proposition to increase the capital from $432,000 to $500,000.
to the banking business of J. A. Wendell & Co., and that- The
price at which the new stock will be disposed of will serve
of the Cook County Savings Bank.
The latter had a capital to increase the surplus also from $432,000 to $500,000.
of $50,000.
The Wendell Safe Deposit Co., controlled by
—Eugene W. Stetson has become President of the Citizens'
the stockholders of the new bank, has been incorporated
National Bank of Macon, Ga., succeeding W. C. Stevens,
with $50,000 capital, and will own and operate the institu¬
resigned. Mr. Stetson is replaced as Cashier by B.s S.
tion's safe deposit vaults.
The bank is now at Ogden Ave. Walker
Jr., heretofore Assistant Cashier.
and Van Buren St., but about May 1 will occupy the ground
—Thomas E. Love joy, Vice-President of the Montgomery
floor of the Stone Bldg., a modern eight-story steel structure.
Bank & Trust Co. of Montgomery, Ala., has been elected
The management of the bank consists of J. A. Wendell,
President of the institution, succeeding W. E. Holloway.
President; Raymond Cardona and Eli Good, Vice-Presi¬
—The stockholders of the American National Bank of El
dents; H. W. Dickerson, Cashier, and T. N. Pelletier, As¬
Paso, Tex., at their annual meeting ratified a proposition
sistant Cashier.
to increase the capital from $200,000 to $300,000.
T. M.
—The stockholders of the Wayne County Savings Bank
Wingo has been elected to succeed A. P. Coles, resigned, as
of Detroit, Mich., have taken action toward increasing the
President of the bank.
capital from $400,000 to $1,000,000. A part of the new
—The Union Trust Co. of San Antonio, Tex., closed its
capital will be in the shape of a stock dividend—that is, doors on the 10th inst., T. H. Davis having been named as
$300,000 of the increase will be paid for through the transfer receiver as a result of an application
therefor made by the
of a like amount of undivided profits to the capital.
The
Attorney-General, who also sued for the forfeiture of its
other $300,000 additional stock will be offered pro rata, at
charter, on the ground, it is said, of its insolvency. The
par, to the existing shareholders.
defendant is also reported to have joined in the request for
—Louis Betz, who for the past eight years has held the the appointment of a receiver.
The institution's nine
office of Comptroller of the City of St. Paul, was elected branches, at Arkansas Pass, Austin, Bandera, Boeme, Chris¬
Treasurer of the State Savings Bank of that city at a meeting tine, Kyle, Lavemia, Lockhart and Manor have also [been
of the board of trustees on Jan. 12.
Mr. Betz immediately closed. The company is said to be one of the few banks
tendered to the Common Council his resignation as City which operated under the Special Act of 1871.
Comptroller.
—I. F. Moulton, Cashier of the Bank of California, N. A.,
—An initial dividend of 25% has been declared in favor at San Francisco, has been elected Vice-President to succeed
of the creditors of the failed First National Bank of Mineral
Frank B. Anderson, who advanced to the presidency.
Mr.
Moulton has also been elected a director of the institution.
Point, Wis., which closed its doors on Oct. 12.
land at Baltimore.
He remains as a
—The Des Moines National
member of the director¬
Bank of Des Moines, la., of
Reynolds is President, has increased its capital
from $300,000 to $500,000.
The proposition was ratified
by the stockholders at the recent annual meeting.
—F. A. Blackwell has been elected President of the Lewis¬
ton National Bank of Lewiston, Idaho, succeeding Frank W.
Kettenbach, resigned. John Alexander has been elected
Vice-President and William Thomson has become Cashier.
Under date of Dec. 19 the Portland “Oregonian” reported
the sale of 90% of the stock of the bank to the Union Se¬
curities Co. for a consideration approximating $250,000. The
sale was said to carry the entire interests of F. W. Ketten¬
bach and W. F. Kettenbach.
The “Oregonian” stated,
however, that the Idaho Trust Co., which was merged with
the bank two years ago, will now be separated from the bank.
—Henry Hanssen has succeeded C. A. Burkhardt, resigned'
as Cashier of the Produce Exchange Bank of Kansas City,
which Arthur
Snowden declined re-election as
—Judge Seawall of the Superior Court of San Francisco,
postponements in the matter of the
payment of a first dividend to the depositors of the failed
California Safe Deposit & Trust Co. of San Francisco, on
who has allowed several
granted permission to Receiver Le Breton to make
10% disbursement on Feb. 10 1910. This in effect gives
the committee which has been seeking to bring about the re¬
habilitation of the institution an extension of time in which
to perfect its plans.
In the event that it is successful in its
endeavors to rehabilitate the institution before the date
named, application will be made to have the order authorizing
the dividend payment revoked and the receiver discharged.
Under the reorganization movement, the company is
to have an authorized capital of $5,000,000 and a paidup capital of $2,000,000.
The present stockholders are
asked to subscribe $1,000,000 of the new stock, and if they
meet this requirement, it is stated that a group of New
York capitalists and bankers will furnish the other $1,000,000.
Mo.
By contributing $1,000,000 to the new company, it is an¬
—Under authority of its stockholders, conferred on the
nounced, the stockholders will exempt themselves from al
17th inst., the Washington National Bank of St. Louis will
stockholders' liability and will own stock of the reorganized
increase its capital from $200,000 to $500,000.
The addi¬ company of the par value of $1,000,000. The arrangements
tional stock is said to have been subscribed by the present
with regard to depositors, if the reorganization is carried
shareholders at $115 per $100 share.
through, provide for the payment to them of 25% cash and
—In order to indicate the development of the Third Na
25% preferred stock, said stock to be a 5% stock, preferred
tional Bank of St. Louis, of which Charles H. Huttig is the as to dividends and
assets, in a holding company which will
well-known head, we append the following little table, show¬ take over the stocks owned
by the California Safe Deposit <fc
ing the total deposits for a series of years:
Trust Co. in the Eldorado Lumber Co., the Pacific Window
Deposits.
Year—
Year—
Deposits.
Glass Co. and the Carnegie Brick & Pottery Co.; and 50%
$20,752,187
1909
$32,920,332 1903
16,833,658
1908
32,385,294 1902
to be paid in cash, the same to be represented by non-inter14,037,773
1907
30,108,987 1901
11,161,117
1900
1906
26,594,366
esting-bearing certificates of deposit, which will be retired
10,218,983
1905
25,143,963 1899
7,015,905
1898
at the rate of 20% per annum.
25,123,642
Thus all these certificates
1904
As the above reveals, deposits during the past eleven years of deposit will be paid in five years.
The new trust company
will
own the equities in the stocks of the Eldorado Lumber
have advanced from $7,015,905 to $32,920,332.
A note¬
worthy feature of the above is that the increase of nearly Co., the Pacific Window Glass Co. and the Carnegie Brick <fc
26 millions of dollars in this period of time was accomplished Pottery Co., as it will own the common stock of the holding
without consolidating with or absorbing any other institution. company.
—The organization of the Citizens' National Bank of
—W. E. Brinkerhoff has been elected Cashier of the Com¬
Seattle,
Wash., which succeeds to the business of H. O.
mercial Bank & Trust Co. of Louisville, Ky., succeeding
Shuey & Co., was completed on the 11th inst. The officers
C. W. Dieruf, resigned.
,
Dec. 23
a
283
THE CHRONICLE
H. O. Shuey, President; Samuel
Rosenberg, Vice-Presi¬
dent; Franklin Shueyf Cashier, and E. W. Campbell, As¬
are:
sistant Cashier.
The bank has been formed with $200,000
capital and $20,000 surplus.
[VOL.
LXXXX.
$100,000 has been transferred to the rest account, $100,000
has been written off bank
premises account, $10,000 con¬
tributed to the Officers’ Pension Fund, and the balance of
$28,677 carried forward to the new account. The bank’s
paid-in capital stands at $3,202,670, it has a rest account of
$1,900,000, deposits of $34,222,821 and total assets of $42,recently an Assistant Cashier of the banking house of Dexter 516,480. During the year nineteen new branches or agencies
Horton <fc Co., was conspicuous in the
development of the were opened by the bank—7 in Alberta, 10 in Saskatchewan
new enterprise and is its Cashier.
The Hon. John Sharpies is President
The Mercantile starts and 2 in Manitoba.
with $100,000 capital. Aside from Cashier
and G. M. Balfour is General
Harley the man¬
Manager.
agement includes W. N. Redfield, President, and Martin J.
Hennehan and C. A. Doty, Vice-Presidents.
—A union of two of the larger banks in the Pacific North¬
V'VVWW>^IVVWWVWVV<AWWVWWVW^^^WWVWVVWWVVWW%^WWVVVVVWWWWWWWKVVV%^V»
—A
State institution, the Mercantile Bank, began
business in Seattle on the 4th inst. C. S.
Harley, until
new
fPtottjetavgi ©ommerctalgugltsft^jewB
west is to be effected in the consolidation of the Seattle
National and Puget Sound National banks of Seattle.
The
merger will be consummated under the name of the Seattle
National Bank. The consolidated institution will have a
[From
our own
correspondent.!
London, Saturday, Jan. 15 1910.
Rates of interest and discount are
very low.
The Bank of
England has not thought it prudent to put down its rate of
discount again so soon. But the belief is
general that there
will be another reduction before
long. Whether there is or
not, money is exceedingly cheap. The rate of discount in
the open market is 3% and the rate for
short loans is rather
under 1 %%.
Everything seems to point, furthermore, to a
general cessation of gold demands. India has taken from
this country and from
capital of $1,000,000 and surplus of $200,000, each bank
to the capital and $100,000 to the
surplus. The Puget Sound National has a capital of $300,000
and surplus and profits of about
$658,000; the capital of the
Seattle National is $500,000, while its
Egypt from 4J^ to 5 millions sterling
surplus and profits
are in the
neighborhood of $395,000. According to the of the metal, but it is now believed that the Indian demand
is satisfied.
No more gold has been taken from
last report made to the Comptroller
the Bank
of the Currency, their of England; the demand
in Egypt is manifestly
weakening,
combined deposits are more than $16,500,000, those of the and even the demand
for India Council drafts is less
strong
than
it
was.
Sound
National
The
Puget
being $7,670,929 and those of the
Egyptian demand has been satisfied for
some time.
So has the Brazilian
Seattle National $8,888,675.
It is claimed that when the
demand, and now it is
believed that Argentina will not be in a
position to take
merger is completed the deposits will be the largest held
very much more gold.
It was hoped until this week that
by any financial institution in the Pacific Northwest. E. W. the new Argentine wheat
crop would about equal that of
Andrews, President, and J. W. Maxwell, Cashier, of the last year. But as reaping has gone on the estimate
of the
yield of the crop has fallen day by day. Now it is almost
8eattle National, will become respectively
President and
everywhere admitted that it will not be at all
First Vice-President of the consolidated
bank, and Jacob. of last year. The most moderate estimate is equal to that
that it will be
Furth, President of the Puget Sound National, will from 10 to 15% less than last
year, and the worst estimate
officiate as Chairman of the board of directors. R. V. is that the decrease will be from 15 to
20%. Probably there
Ankeny, Cashier of the Puget Sound National, will serve is some exaggeration in both estimates, but there appears
to be no doubt that the
os Cashier of the
crop has suffered much more from
new
bank.
The enlarged bank will
drought, frost and locusts than had been believed hitherto.
occupy the quarters of the Seattle National,
which If the facts are so, the general impression is that Argentina
will be completely remodeled, so as to
provide additional will not be able to take much more gold.
In consequence of
room.
The new bank will be peculiarly a local
institution, competition for the this, feeling now in the City is that the
gold offering here in the open market
practically all its stockholders being Seattle men. The will not be serious for
some time to
come, and therefore
two boards of directors will be
merged into one directorate. that the Bank of England will
probably
be able to get a very
The stockholders of the Puget Sound National will
ratify large proportion of it. A considerable part of the gold offer¬
ing in the open market on Monday was taken for India and
the consolidation on the 31st inst.
contributing $500,000
—The
capital of the Traders’ National Bank of Spokane,
Wash., was increased on Dec. 31 from $600,000 to $1,000,Of the additional stock,
000.
amounting to 4,000 shares,
1,000 were sold to the public at $175 per share. The insti¬
tution has a surplus of $200,000.
A. F. McClaine has been
elected President of the bank,
succeeding Aaron Kuhn, who
has been chosen Chairman of the board of
directors.
—The banking house of Walker Brothers of Salt Lake
Utah, of which W. H. Walker
election of L. H. Farnsworth
Thomas Weir, resigned.
E.
is
as
President,
City,
announces the
Vice-President, in place
O. Howard, previously
Assistant Cashier, has succeeded Mr. Farnsworth as
of
an
Cashier,
and
W. E. Lake has been made an
Assistant Cashier.
John H. Walker continues as an Assistant
Cashier. Newlyelected directors are George S.
Auerbach, Frank A. Druehl
and Charles N. Strevell.
This, the oldest bank in Utah, has
capital of $250,000, surplus and profits of $150,000 and
deposits of over three and a half millions.
—Ralph W. Hoyt retired as Cashier and director of the
a
Merchants’ National Bank of
meeting
Portland, Ore., at the annual
on the 11th inst.
It is stated that Mr.
Hoyt, who
had been in the service of the bank for
twenty-seven years,
remains as a stockholder.
His
has heretofore been
the
cousin, George W. Hoyt, who
Assistant Cashier, has been chosen to
cashiership.
—The capital of the Lumbermen’s
National Bank of Port¬
land, Ore., will be increased on April 1 from
$250,000 to
$500,000. The proposal has been approved
by the stock¬
holders.
—In the annual statement of the Union
Bank of Canada
(head office Quebec) net profits of $407,541 for the
year
ending Nov. 30 1909 are shown. The previous
year the
bank had placed $55,262 to the
profit and loss account,
which, combined with the profits of the current
year, brought
the total for appropriations up to
$462,803.
Out of this,
$224,126 has been paid in dividends (at 7% per
annum),
for the trade.
It is expected that the remainder will
go into
the Bank of England,
though it is not yet quite sure whether
there may not be better
bidding from the Continent. All
this favors very low rates.
On the other hand, the revenue
is coming in badly.
For there is no law to compel the pay¬
ment of the new taxes.
Therefore, the Government has to
borrow on a large scale.
For instance, this week it has
announced the issue of 4 millions
sterling of Treasury bills,
and no doubt it will have to issue much more.
Besides
that, the Indian Government has just borrowed 7% millions
sterling, and many other loans and companies are coming
out.
The Indian loan has not been
very successful, since
the underwriters have had to take
50% of the amount un¬
derwritten.
The India Council offered for tender on
Wednesday 80 lacs
of its bills and the applications amounted to
417^ lacs at
prices ranging from Is. 4 l-16d. to Is. 4 3-32d. per rupee.
Applicants for bills at Is. 4 l-16d. and for telegraphic trans¬
fers at Is. 4 3-32d. per rupee were allotted about
19% of
the amounts applied for.
The following returns show the
position of the Bank of
England, the Bank rate of discount, the price of consols,
&c., compared with the last four
1910.
1909.
Jan. 12.
£
Jan. 13.
£
Circulation
28.277.345
Public deposits
6,904,117
Other deposits
45,491,249
Govemm’t securities 14,707,945
Other securities
30,740,270
Reserve.notes&coln
24,923,643
Coin&buil.,bothdep 34,750.988
1908.
Jan. 16.
£
bilities.
Bank rate
28,374,090
4,475,519
44,548,056
14,332,136
26,911,131
25,867.336
35,791,426
43 }*
*3
52 11-16
xb
83 15-16
25 ll-16d.
Sliver
Clear .-house returns
♦
47H
p. c.
p. c.
Jan. 14 1909.
1907.
Jan. 16.
£
29,093.405
5,661,164
42,879,521
15,301.155
30,180,268
21,012,778
31,656,183
Prop, reserve to lia¬
Consols, 2}4 P- c
years:
4
82-11-16
28.019.375
5,817.343
44,002,448
15,458.516
29,912,733
22.593,449
32.162,824
1906.
Jan. 17.
£
28.414.155
7,733,329
41,136,641
12,839.473
33,198,421
21,011,361
30,975,515
45}*
42 H
4
5
8354
87}*
8954
24 J-gd.
24}*d.
31 9-16d.
30d.
246.218.000 244,950.000 232.855,000 297,873,000
287.646.000
x
Jan. 16 1908.
The rates for money have been as follows:
Bank of England rate
Oven Market rate—
Bank bills—60 days
—3 months
—4 months
—6 months
Trade bills—3 months
—4 months
Interest allowed for deposits—
By joint-stock banks
By discount bouses:
At call
7 to 14 days
Jan. 14.
4
3
3
3
3
3}4@ >4
3}4@ • 4
1-16
1-16
1-16
1-16
2}4
$
Jan. 7.
Dec. 31.
4
4}4
3H
3}*@3 5-16
3}*@3 5-16
3 3-16
35*
4
254
354
@3*1-16
3
5-16
354
4
4® 454
3
Dec. 23.
454
381
354®>3 7-16
354® >3 3-16
4}*|>454
4}*® >414
3
3
3
354
354 j
Jam. 89
The bank rates of discount
and
open
chief Continental cities have been as
Rates of
Interest at—
Paris
Berlin
..
..
Hamburg
---
Frankfort
Amsterdam
Brussels
Vienna
..
-
..
St.| Petenburg
..
Madrid
--
Copenhagen
The
..
..
2X
3X
3X
3X
4
5
nom.
4
5
4X
5
market rates at the
follows:
Dec. 25.
Bank
Open
Rate. Market.
3
2X
5
3X
5
3X
5
3 15-16
3
2X
Rate. Market.
3
2X
5
4X
5
4X
5
4 3-16
3
2X
.
2X
3X
3X
4
5
nom.
2X
3X
3X
*
4
nom.
nom.
Japanese yen
Messrs.
Jan. 13.
s.
d.
77 9
76 5
76 5
76 6
76 4
4X
4X
4X
4X
4X
5
5
5
5
5
5
Jan. 6.
d.
24 13-16
24 5-16
26 X
“
nom.
Pixley A Abell write as follows under date of
Jan. 13:
GOLD.—With a rising exchange, the demand for Paris ceased at the end of last
week, and upwards of £100,000 that had been bought for France was resold here.
This week's arrivals amounted to £711,000, and the whole of this, after satisfying
the Indian requirements of about £180,000, will probably find Its way into the Bank.
Next week we expect £418,000 from South Africa.
At the Bank £ 161.000 has been
received In bars, while in sovereigns £12,500 has been sent In from France and
£7,000 from Australia, the withdrawals being £55,000 for Argentina, £5,000 for
Peru, £10,000 for South Africa and £15,000 for the Continent. For the week:
Arrivals—South Africa. £659,000; West Indies, £33,000; Australia, £15.000; West
Africa, £4,000; total.£711.000. Shipments—Bombay, £145,500; Calcutta, £47,500;
total. £193,000. For month of December: Arrivals—Germany, £6,000; France,
£1,376,500; India. £188,000; South Africa. £3,440.000. Shipments—Germany,
£1.648.000; France. £285,000; India, £1,334,800.
SILVER.—The feature of the week has been buying for the Indian Bazaars and
selling for China account. Fluctuations have again been small, between 24 l-16d.
and 24 3-16d.. with 24Xd. as the closing quotation for both spot and forward, with a
steady market. Last week’s mall to Bombay took out £420,000, while the stock there
on the 7th Inst, amounted to £1,260,000. This, however. Is being quickly reduced, as
the daily offtake Is now 200 bars, about £24,000.
The Bombay quotation is Rs. 61
For the week: Arrivals—New York. £193.000; Mexico, £16,000;
per 100 tolahs.
West Indies, £4.000; total. £213,000.
Shipments—Bombay, £423,000; Port Said,
£1,000; total, £424,000. For month of December: Arrivals—Germany. £12,000;
U. 8. A., £842,000.
Shipments—Russia, £117,000; Germany, £54.000.
The following shows the imports of cereal produce into
the United Kingdom during the season to date, compared
with previous seasons:
IMPORTS.
1909-10.
Nineteen weeks.
cwt.38,160,840
....11,736,900
Imports of Wheat
Barley
7,310,600
806,467
1,512,600
13,868,900
5.334,400
Oats
Peas
Beans
Indian corn
Flour
1908-09.
1907-08.
1906-07.
32,147.400
11,754,300
33,216,300
13,874,800
31,084,900
11,157,900
3,862,200
868,970
559,040
18,328.400
5,624,500
4,705.500
613,630
633,820
14.306,600
5,186,200
4,383,200
863,960
438.670
18,049,100
5,511,700
Supplies available for consumption (exclusive of stock on
September 1):
1909-10.
cwt.38,160,840
Wheat imported
5,334,400
11,110,700
Imports of flour.
Sales of home-grown
Total
1908-09.
1907-08.
1906-07.
32,147,400
5,186,200
33,216,300
5,624,500
31,084,900
13,632,268
13,016,125
5,511,700
11,171,860
54,605,940
50.965.868
51,856,925
47,768,460
33s. 6d.
33s. Od.
32s. 9d.
31s. 8d.
35s. 2d.
34s. Id.
26s. Od.
26s. 3d.
Average price of wheat, week
Average price, season
following shows the quantities of wheat, flour and
maize afloat to the United Kingdom:
The
Wheat
*..qrs
_.qrs
qrs.
Flour, equal to..
Maize
1909.
This week.
Last week.
2,306,000
2,055,000
190,000
690,000
205.000
.
1,660,000
220,000
495,000
700,000
Name
1908.
2,285,000
325,000
475,000
Per
Cent.
of Company.
IX
2X
(quar )
Atchison Topeka A Santa Fe. com.
Preferred (No. 23)
1
Baltimore A Ohio, common
Preferred
Beliefonte Central..
Buffalo Roch. A Pittsb., com
3
2
1
2
3
Preferred
Canada Southern
Central RR. of New Jersey
IX
Chicago A Alton RR.. common
Cumulative prior lien and partlo. stock.
Chicago Milw. A St. Paul, com. A pref—
Chic. St. P. Minn. A Omaha, com. A pref
3)4
3X
2
Cleve. Cln. Chic. A St. Louis, com
Cripple Creek Central, pref. 0qu.) {No.IT).
Cuba RR.. preferred
Delaware A Hudson Co. (quar.)
Great Northern (quar.)
Green Bay A Western
Illinois Central (No. 110)
k
IX
5
1*
Guaranteed stock(Mich.Sou.&Nor.Ind.)
Louisville A Nashville
3X
6
50
3
3
5
5
2
Mahoning Coal RR., common
—
Common (extra)
Nashville Chattanooga A St. Louis
N. Y. Chic. A St. Louis, common (No. 1)
First preferred
Second preferred
-
Norfolk A Western, preferred
IX
{quar.)
Northern Pacific (quar.)
Pennsylvania Company..
Common
IX
Pittsb. Cine. Chic. A St. Louis, common.
l*
Pittsburgh A Lake Erie
40
Extra
Reading Company, common
First preferred
Rome Watertown A Ogden., guar, (quar.)
Utica Clinton A Binghamton
Vandal la
Street & Electric Railways.
Boston Elevated Ry
Boston A Northern Street Ry.. preferred.
Columbus (O.) Ry., pref. (quar.) (No. 41)
Connecticut Ry. A Ltg., com.& pref.(qu.)
Dartmouth A Westport St. Ry. (quar.)..
East St. Louis & Sub., pref. (qu.)(No.l5)
Grand Rapids Ry., pref. (qu.) (No. 37)_.
3
2
IX
2
2X
3
3
IX
1
2
English Financial Markets—Per Cable.
daily closing quotations for securities, &c., at London,
reported by cable, have been as follows the past week:
London,
Wed.
24X
82X
82 13-16 82 11-16 82X
98.65
98.65
98.80
84 X
83 X
Amalgamated Copper Co... 86X
85)4
10 X
io x
10 X
5 Anaconda Mining Co
10X
119 X
120
Atchison Topeka
4)1
2
A Santa 1
Fe 122)4
Preferred
106 X
106)4
106)4
106)4
Baltimore A Ohio
119
120 X
119)4
119)4
96 X
Preferred
96)4
96)4
96)4
185
Canadian Pacific
186 X
184)4
184X
For account82%
French rentes (In Paris). _fr_ 99.05
3
1
Chesapeake A Ohio
Chicago Milw. & St. Paul
89)4
152)4
89
153)4
87X
151
44 X
82 X
30 X
49 X
39
147
Denver A Rio Grande
46
46
Preferred
:
83)4
83)4
Erie
32X
32)4
First preferred.
50
50
Second preferred
39
39)4
Illinois Central
149
148
Louisville & Nashville
156
156)4
153X
Missouri Kansas A Texas
47)4
46)4
44X
Preferred
75
75
75
National RR. of Mex., 1st pf. 65
64 X
64)4
Second preferred
28
28)4
28)4
N.
Y.
Central
A
Hud.
121
4)22
1
Rtver_123)4
N. Y. 6
Ont. A Western 4
47
46 X
)
Norfolk A Western
99
100)4
99)4
Preferred
92
92)4
92)4
Northern Pacific
138
140)4
139)4
a
Pennsylvania
69
4)
76
a Reading
84
83)4
80)4
a First preferred
4)74
47)4
47)4
a Second preferred
54
54
53
Rock Island
44
45)4
45)4
Southern Pacific
135)4
133)4
130)4
Southern Railway
32
32
31
Preferred
4)86
70)4
70)4
Union Pacific..,.
199)4
196)4
192)4
Preferred
102
..104)
103)4
U. S. Steel Corporation
88 X
85 X
89)
Preferred
127
127)
126)4
Wabash
23
22
23)
Preferred
53
50 X
52
Extended 4s..
70
76
75X
68)|
a
Price per share,
b £ ste lng,
c
Ex-dividend.
85)4
151
44
82)4
29)4
49
38
147
152
44
74
64 X
28
121
46
99
Fri.
24)4
24)4
82 5-16
82 5-16
82 3-16
82 3-16
98.87)4 98.87)4
10)4
119)4
106)4
cl 16
c94)4
184)4
86)4
151)4
44)4
82)4
30)4
50
37)4
Cl45
84)4
10)4
94)4
185)4
102
86 X
126
102
21X
49)4
74X
22
50
75
44
131)4
30)4
68)4
191)4
85X
126X
to
of
of
of
of
rec.
rec.
rec.
rec.
of rec.
Feb.
1
Feb.
Feb.
Feb.
Jan.
18
18
18
31
Feb. 28
Holders of reo. Jan.12*
Preferred—
Public Service Investment, com.
Preferred (No. 3)
Railways Company General (quar.)
Railway A Light Securities, com. (No.
Lt. & Power, Ltd.
Springfield A Xenia Ry., preferred {quar.)
Twin City Rap. Tran., Minneap., com.(qu)
Union St. Ry., New Bedford, Mass, (qu.)
West Penn Rys., pref. (quar.) (No. 17).
Feb.
Feb
Feb.
Feb.
15
1
1
15
1
1
1
1
14
14
1
1
1
1
31
1
1
31
1
Feb. 15
Feb.
Feb.
Feb.
Feb. 6
Holden
Holden
Holden
Holden
Holden
Holden
Jan. 21
Jan, 24
Jan. 24
Holden
Holden
Holden
Holden
Jan. 26
Holden
Jan. 24
Holden
Holden
to
of
of
of
of
of
of
1
1
1
1
1
1
1
1
1
1
5
15
1
1
Feb.
Feb.
Jan.
Feb.
Feb.
Feb.
Feb.
Feb.
Jan.
Feb.
Jan.
Feb.
Feb.
Mch.
Feb.
1 Jan. 28
1 Jan. 28
29 Jan.
1
1 Holders
1 Holders
1 Holders
1 Holders
1 Holders
IX
2
IX
rec. Jan.
rec. Jan.
rec. Feb.
rec. Jan.
rec. Jan.
rec. Jan.
15
15
1
20
15
15
31
Jan.
Feb. 14
Feb. 14
of rec. Jan. 25
of rec. Jan. 25
of rec. Jan. 15
of rec. Jan. 15
Jan. 31
to
of rec. Feb. 15
to
Jan. 31
of rec. Jan. 20
of rec. Jan. 13
Feb.
Feb.
Feb.
Mch.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
1
2
3
1
1
Preferred
Rio de Janeiro Tram..
Feb.; 5
Jan. 26
Jan. 26
Jan. 15a
Feb. 19
Jan. 31
Feb. 9
Feb. 5a
IX
IX
2X
IX
IX
1)
15 Holden of rec
1 Holden of rec.
1 Holden of rec.
1 Holden of reo.
10 Holden of rec.
15 Holden of reo.
10 Feb.
1
to
15 Holden of rec.
Jan.
Mch.
Feb.
Jan
Feb.
3
(No. 1).
Feb.
Feb.
Feb.
Feb.
Mch.
Feb.
Feb.
Feb.
3
5
2
4
3
3
30)4
48)4
36)4
145
43 X
74
63 X
28
46
99
92)4
140
69
81
47)4
52)4
42)4
132)4
30)4
69
192)4
101)4
86
126 X
21
48 X
74X
--
Copper. National (quar.) (No.
Corn Exchange (quar.)
Fourteenth Street {No. 41)
German-American
Greenwich {quar.)—
Lincoln National {quar.)
4)
-
2X
2X
—
21
—
4
—
to
to
to
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
Jan. 22
to
Holders of rec.
Holders of rec.
Jan. 17
to
Feb.
1
to
Holders of rec.
Holders of rec.
Jan. 25
to
Jan. 25a
Jan. 15
Dec. 17
Feb. 10
Jan. 15
Jan. 15
Jan. 31
Jan.15a
Jan.l5a
Jan. 31
Feb.
5
Jan. 21
Jan. 20
Feb. 17
IX
Pacific (quar.).
Extra.
’
2
2
2
3
IX
12X
2X
4
29
Dw*
25
Jan. 31
Jan. 31
Jan. 17
of rec. Jan. 22
of rec. Jan. 28
of rec. Jan. 28
of rec. Jan. 21
of rec. Jan.27a
to
to
to
to
1 Jan. 28
to
31 Holders of rec.
1 Jan. 19
to
1 Jan. 19
to
1 Holders of rec.
1 Jan. 29
to
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
ix Feb.
4
Feb.
2
Feb.
2 Xe Feb.
IX Feb.
3
Feb.
IX Feb.
elOX Feb.
25c. Mch.
IX Feb.
2X Feb.
2
Feb.
IX Feb.
IX Feb.
IX Feb.
IX Feb.
1
Mch.
IX Jan.
Jan.
X
1
Jan.
3)4 Feb.
7)4 Feb.
X
1
pref. (qu.) (No.
preferred (No. 8)__.
Amer. Gas & Elec.,
82
122
92)4
139)4
68 X
81X
47 X
52 X
Holders
Holders
Holders
Holden
Holden
IX
X
IX
IX
2X
IX
Jacksonville Electric Co., com. (No. ll)-_
Preferred (No. 15)
Lincoln Traction, preferred {quar.)
Metropolitan West Side El., pref. (qu.)..
Mexico Tramways
—
Milwaukee Elec. Ry. A Light, pref. (qu.)
Montreal Street Ry. (quar.)
Northern Ohio Traction A Light {quar.)...
Ohio Traction, preferred {quar.)
Old Colony Street Ry.. preferred
Philadelphia Company, com. (quar.)
Amalgamated Copper (quar.)...
42)4
122
92)4
138)4
67)4
80)4
47)4
52)4
43)4
132)4
30)4
67)4
192)4
l|Jan. 22
1
1
1
18
18
1
Feb. 7a
Dec.30a
Feb.
1
Feb.
1
Feb. 1
Feb.
7
Feb. 7
Dee. 31
Jan.21a
Jan.Sla
Jan.31a
Feb. 10
Feb. 2
Feb. 7a
Feb. 18a
Dec. 31
Feb. 31
Jan 10a
Feb. 5
Feb. ' 1
Dec. 31
Feb 10
Jan. 14
Jan. 14
Jan.
Jan.
Jan.
Jan.
31
27
31
31
Feb. 20
Jan. 31
1
1
1
1
Jan. 22
to
Jan. 26
to
Holders of rec.
Jan. 26
to
Jan. 31
Jan. 31
28
19
1
1
Holders of rec.
Feb. 15
to
Jan. 23
to
Jan. 26
to
Jan. 20
to
Jan. 20
to
Jan. 20
to
Holders of rec.
Jan. 29
to
Jan. 26
to
Feb. 12
to
Holders of rec.
Holders of rec.
Feb.
1
to
Holders of rec.
Holders of rec.
Jan. 21
to
Jan. 16
to
Holders of rec.
Jan. 23
to
Holders of rec.
Holders of rec.
Jan. 22
to
Holders of rec.
Holders of rec.
Holders of rec.
Holders of reo.
Jan. 16
to
Jan. 21
to
Feb.
2
to
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
Jan.
Jan.25a
Jan. 31
Miscellaneous.
86
152
149X
46)4
Holders of ree
Holders of ree.
Holders of reo.
Holders of reo.
Holders of reo.
Holders of rec.
Holders of rec.
Holders of reo.
Holders of ree.
Holders of reo.
Holders of rec.
Holders of rec.
Holders of rec.
1\ Holders of reo.
1 Holders of reo.
1 Holders of reo.
21 Holders of reo.
Holders of reo.
7 Holders of reo.
14 Holders of ree.
1 Holders of ree.
101 Jan. 21
to
II Holders of reo.
1 Holders of rec.
3
3
1
Twenty-third Ward—
Trust Companies.
Broadway (quar.)
Farmers’ Loan A Trust (quar.)..
Hamilton, Brooklyn (quar.)
Kings County, Brooklyn (quar.).
120
106
115 X
150X
44X
74 X
64 X
28 X
99
1
1
1
1
15
15
15
1
1
15
15
i
21
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
IX
(quar.)
Mechanics* National (special)
Metropolis, Bank of the {quar.)
Thurs.
c85
Feb.
Mch.
Feb.
Mch.
Mch.
Feb.
Mch.
Feb.
Feb.
Mch.
Feb.
Feb.
Feb.
Feb.
Feb.
Mch.
Mch.
Mch.
Feb.
Mch.
Feb.
Feb.
IX
IX
Harrisburg (Pa.) Traction
Havana Electric Ry., com. (qu.) (No. 5)
Preferred (quar.) (No. 16)
Helena Light A Railway, com. (quar.)_.
Preferred
Mch.
Feb.
Mch.
Mch.
Feb.
Feb.
Feb.
Feb.
Banks.
The
Tues.
24X
82X
Books Closed.
Days Inclusive.
f 16.67 b
Extra
Week ending Jan. 28.
Mon.
Sat.
Silver, peroz
d. 24 3-16 24 3-16
Consols, new. 2X percents.. 82 13-16 82X
When
Payable.
Feb.
Feb.
2
2
2
(quarterly)..
Bowery (quar.)__
as
the
Railroads (Steam).
nom.
4X
Jan. 6.
SILVER.
Jan. 13.
s.
d.
London Standard
d.
Bar silver, fine, oz. —24X
9
2 mo. delivery. oz.24X
5.
Cake silver, oz
5
...26 1-16
5
Mexican dollars...
4
77
76
76
76
76
The following shows all the dividends announced for
future by large or important corporations:
Dividends announced this week are printed in italics.
2)4
3X
quotations for bullion are reported as follows:
GOLD.
London Standard.
©oraraerciul and g^isccXXancnns Hems
dividends”
“
~
Jan. 1.
Bank
Open
Jan. 8.
Bank
Open
Rate. Market.
3
2X
5
4X
5
4X
5
4X
3
2X
Jan. 15.
Bank
Open
Rale. Market.
3
2X
5
3X
5
3X
6
3X
3
2X
4
5
383
THE CHRONICLE
1910.]
American Glue,
.
Common (special).
Preferred (quar.)..
Brill {J. G.) Co., preferred {quar.)
British Columbia Packers’ Ass’n, pref
Butte Coalition Mining {quar)
1
15
1
15
1
5
1
1
15
1C
1
1
1
Commonwealth-Edlson (quar.)
Consolidated Car Heating
1
15
Consolidated Gas of New York {quar.)
Consolidation Coal (quar.)
31
»
31
29
Distilling Co. of Amer., pref. (quar.)
Dominion Coal, Ltd., preferred
1
Eastman Kodak, common (extra)
1
1
Common (quar.)
2X April
1
Preferred (quar.)
IX April
Edison Elec. Ill., Boston (qu.) (No. 83)..
1
2X Feb.
1
Elec. Bond A Share, pref. (quar.) (No. 19 >
IX Feb.
Electric Company of America
2
3X Feb.
1(
Feb.
1 ^ Jan.
31
Federal Sugar Refining, pref. (quar.)...
1
Mch.
1
General Chemical, com. {quar.)
Common {extra.)
elO A bt Mcbl5
2X* Feb. 10
Cambria Steel
Casein Company, pref. {quar.) {No. 39)_.
Clafiln (H. B.), flrnt preferred (quar.)
Second preferred (quar.)
.
•
27
Feb. 20
Feb.
1
Feb.
1
Jan. 31
Jan. 31
Jan. 31
Feb. 8
Jan. 31
Feb.
5
Mch. 1
Jan. 15a
Jan.31a
Feb. 9
Jan. 21
Jan. 21
Feb.
1
Feb.
1
Feb.16a
Jan.
Jan.
Jan.
Jan.
Jan.
31
10a
8a
31
15
Feb. 28
Feb. 28
Jan. 15
Feb.
1
Feb. 3
Feb. 10
Jan. 28a
Feb.|21
Feb.(21
Feb.
7
284
THE CHRONICLE
Per
Cent.
Name of Company.
Miscellaneous (Concluded).
Guanajuato Pow. A El.. pf.(qu.) (No. 6)
IK
Harbison-Walker Refract., pref. (quar.).
IK
(nteraatlonal Nickel, common (quar.)...
1
Common (extra)
K
Preferred (quar)
IK
(nternat. Steam Pump, pf.(qu.) (No. 43).
IK'
Jeffenon A Clearfield Coal A Iron, pref..
2H
Kansas City Stock Yards (quar.)..
IK
Lehigh Coal A Navigation (special)
15 scr.
Michigan State Telephone, com. (quar.).
IK
9.643120—The
Preferred (quar.)
Preferred (quar.)
Mlnneap. Gen. Elec., com. (qu.) (No. 10)
Preferred (No. 22)
MobUe Electric Co., preferred (quar.)
Montreal Lt.. H. A P. (quar.) (No. 35)..
Municipal Gas, Albany, N.Y. (quar.)
National Lead, preferred (quar.) (No. 73)
Nevada-Califomia Power (quar.)..
New England Cotton Yarn, pref. (quar.).
Omaha Elec. Light A Power, preferred..
Paelflc Coast Co., common (quar.)
First preferred (quar.)
Second preferred (quar.)
People’s Gas Light A Coke (quar.)
Pittsburgh Coal, preferred..
Pope Manufacturing, preferred (quar.)..
Pressed Sled Car, pref. (quar.) (No. 44)..
Procter A Gamble, common (quar.)
Pullman Company (quar.) (No. 172)
Sean, Roebuck A Co., com. (quar.)
Siegel Stores Corporation, pref. (quar.)..
Torrington Company,
common....
United Bank Note Corporation, com.
United Cigar Mfn., com. (quar )
(qu.)
When
Books Closed.
Payable.
Days Inclusive.
Feb.
Jan.
Mch.
Mch.
Feb
Feb.
IK
Feb.
Feb.
Mch.
Mch.
Feb.
IB
3
Feb.
Feb.
IK
lH
2K
IK
1
IK
2K
IK
1H
IK
IK
IK
1K
IK
3
2
IK
IK
4
1
May
Feb.
Feb.
Feb.
Mch.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
Jan.
Jan.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
Jan.
Jan.
Mch.
Mch.
Feb.
Feb.
Feb.
1
29
1
1
1
1
15
1
1
1
1
}
1
15
15
1
15
_
_
....
...... ...
Jan .20a
1
Feb.
Feb.
1
Feb.
1
Jan. 20
Jan. 10
Jan. 21
Feb. 22
Jan.31a
Jan.
Feb.
Jan.
Jan.
Feb.
Feb.
Jan.
Feb.
Jan.
Feb.
Feb.
31
1
15
31
15
3
24
1
21
1
1
18
18
28
31
3
31
22
IK
United Dry Goods Coe., com. (quar.)
2
U. S. Bobbin A Shuttle, pref. (quar.)
IK
United States Realty A Improv't (quar.).
IK
United States Rubber, 1st pref. (quar.)..
2
Second preferred (quar.)...
IK
U. S. StedCorp., com. (quar.) (No. 25)..
l
April
Common (extra.)
K
April
Preferred (quar.) (No. 35)
Feb.
IK
Washington (D. C.) Gas Light (quar.)
2K
Jan.
Wells, Fargo A Co., extra
$300
Jan.
Western Telep. A Teleg., preferred
Jan.
2K Feb.
White (J.G.)&Co Inc., pf.(qu.)(No. 27)
IK Feb.
Jan.
a Transfer books not closed.
5 Payable In stock,
d Correction, e This completes
the payment of dividends in arrears, e Payable In common stock.
National
.
Banks.—The following
information regarding
Comptroller of the
national banks is from the office of the
Currency, Treasury Department:
APPLICATIONS TO CONVERT INTO NATIONAL BANKS
APPROVED.
The State Bank of Williams County, Crosby, N. D., into “The First
National Bank of Crosby.”
Capital, $25,000.
NATIONAL BANKS ORGANIZED.
January la to January 19.
National City Bank of Baltimore, Md.
Capital, $500,000.
David H. Carroll, Pres.; J. F. Sippel and Michael Schloss, VicePresidents: Harry M. Mason, Cashier.
First National Bank of St. Albans, W. Va.
Capital, $25,000.
C. J. Pearson, Pres.; M. W. Stark, Vice-Pres.; R. C.
Sweet, Cashier.
Cohen National Bank of Sandersville, Ga.
Capital, $50,000.
Louis Cohen, Pres.; Geo. D. Warthen, Vice-Pres.; C. L.
Brewer,
Cashier; Ben Brookins, Assistant Cashier.
Peoples’ National Bank of Warrenton, Va. Capital, $50,000.
A. Fletcher, Pres.; John T. Cockrill, Vice-Pres.; S. C.
Brittle, Cashier
First National Bank of Brushton, N. Y.
Capital, $25,000.
Alpheus B. Conger, Pres.; John S. Hill, Vice-Pres.; A. C. Barnhart,
Cashier.
CHANGE OF CORPORATE TITLE.
4,225—The Pierce City National Bank, Pierce City, Mo., to “The First
National Bank of Pierce City.”
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:
■P
Stocks.
Stocks.
3 Brooklyn Borough Gas Co.. 60
hanna Valley RR...
150
1,440 Novel Utilities Co. of N. Y.
Del. A Bound Brook RR
191
$5 each
$125 lot
Rights to subscribe for 10
10 German-American Ins. Co...571
shares Bank of Lawrence,
56 Merchants Nat. Bank... 184^-185
Long Island.
...$130
5 N. Y. Life Ins. A Tr. Co... 1120
Knollwood Cemetery..$1.20 persh.
4 Imp. A Traders’ Nat.
Bank.571^
Mech. & Traders’ Bk. of N.Y. 46
10 Aetna Fire Ins. Co. of
Hartf_307H
White Knob Copper A Dev.
5 Trust Co. of America
351
Co. pref., $10 each
$137
10 Lawyers Title Ins. A Tr. Co.300
White Knob Copper A Dev.
6 Title Guar. A Trust Co
558
Co. common, $10 each
$29
48 Knickerbocker Trust Co. free
Phoenix Cons. Copper Co.,
stock
300X-301
$25 each
$25
Bonds.
Standard Cordage Co
$7
$2,000 City of N. Y. 3K% taxOriental Bank (in liquidation)
exempt corp- stock, 1954, M. &N.
$71 per sh.
88 A int.
National Reserve Bank___l$130
$12,000 Consol. Rubber Tire Co.
K Rights Nat. Res. Bank]per sh.
deb. 4s, 1951
34J*
Mercantile National Bank
171
$20,000 Second Ave. RR. 1st cons.
Third National Bank
$305
5s, 1948.
47
Van Norman Educational In¬
$50,000 Colum. A Hock. Coal A I.
stitute, $5 each
.$9 lot
Co. coll, trusts, f. 6s, 1956, J.&J.
Savoy Trust Co
$102
25 & int—31 A int.
S3 Utica Chenango A Susque¬
3
t
!
66
3
800
200
100
12
25
6
5
165
15
50
100 Brooklyn City RR. Co.‘197
Montreal
Toronto
Winnipeg
Vancouver
Ottawa
Quebec
Halifax
Hamilton
St. John
Calgary
London
Victoria'
Edmonton
Regina
Total Canada
Week ending
at—
Inc.
1910.
1909.
$
$
Clearing-House banks for the week ending Jan. 22.
figures for the separate banks are the averages of the
The
daily results.
In the
or
Dec.
87,209,401
+29.1
1908.
$
26,484,474
21,105,787
10,789,710
3,303,346
3,060,232
2,066,551
1,706,792
1,318,036
1,135,960
1,133,699
1,126,028
994,811
583,555
74.788.981
1907.
$
26,650.331
23,494,899
8,778,431
2,771,444
2,839,304
1,672,492
1,604,082
1,585,045
1,178,768
1,100,541
1,061,901
970,570
717,649
74,424,457
of the
case
at the end of the week are also
totals, the actual figures
given.
We omit two ciphers (00) in all cases.
Banks.
00s omitted.
Capital.
$
2,000,0
2,050,0
2,000.0
3,000,0
1,500,0
Merchants’
Mechanics’
America
Phenlx
1,000,0
25,000,0
3,000,0
600,0
1,000,0
300,0
500,0
5,000,0
25,000,0
3.000.0
500,0
450,0
200,0
3,000,0
2,550,0
500,0
1,000,0
2,000,0
3,000,0
1,500,0
3,000,0
250,0
3,000,0
1.000.0
10,000,0
2.000,0
250,0
500,0
750,0
5,000,0
100,0
200,0
City
Chemical..
Merchants’ Ex.
Gallatin
Butch. ADrov.
Greenwich
Amer. Exch...
Commerce
Mercantile
Pacific
Chatham
People’s
Hanover
Citizens’ Cent..
Nassau
Market A Fult’n
..
Corn Exchange.
Imp A Traders’
Park
East River
Fourth
Second
First
Irving Exch...
Bowery
N. Y. County.
_
German-Amer
Chase
Fifth Avenue..
German Exch..
Germania
Lincoln
Garfield
Fifth
.
200.0
1,000,0
1,000,0
250,0
Metropolis
1,000,0
West Side
Seaboard
200,0
1,000,0
Liberty
1,000,0
N. Y. Prod Ex..
1,000,0
1,000,0
1,000,0
3,000,0
State
14th Street..__
Copper
Coal A Iron....
Totals,
Actual
Loans.
Specie.
Legate.
Average. Average.
Average.
Bank of N. Y—
Manhattan Co.
Metropolitan
Surplus.
aver.
figures
1,000,0
$
$
1,1*67,0
3.465.5
19J348.0
3,853,0
4.126.6
29,800,0
8,564,0
1.693.7
17,569,0
3,145,0
3.851.2
24,887,0
4,370,0
5,894,9
25,141,0
4.502,9
685.5
7:172,0
1,219,0
28,853,0 167,007,7 41,770.6
6,183,0
28,248.0
4.495.1
568.2
6.277.7
1.402.1
2.443.1
8.288.4
1,199,0
153.4
2.156.4
495.7
777.4
7,395,0
1.780.5
5,095,1
28.718.6
4,073,1
15,694,3 137,509,8 22,048.8
2.570.8
14.370.8
1,924,3
897.6
4,100,0
669,0
1,026,2
6.928.6
933.3
477.5
1.893.2
514.1
11,101,1
63.832.6 10.994.1
1,486,6
22.333.9
5.276.1
464,8
6.402.3
638.2
1,668,0
8.175.3
1.409.7
1.392.9
12.145.1
2.905.8
5.254.1
43,405.0
7,733.0
7,504,0
26,909,0
3,859,0
9.912.5
81,987,0 21,455,0
105.2
1.566.8
413.8
3.543.1
21,791,0
4,159,0
1.899.3
12,551,0
2,618,0
19,808,6
96.514.2 29.314.2
1.516.3
21,297,0
4.707.5
802,0
3,568,0
917,0
1.642.4
8.153.6
1.322,0
667.5
4.309.5
853,7
7.040.4
66,999,0 20.256.3
2,069,9
13.544.1
2.750.2
894,0
3.658.7
628.9
1,006,5
4.742,1
778.4
1.408.9
17.666.2
3.944.9
1.147.1
7.762.9
1.741.8
483.5
3.497.8
589.9
2,020,2
11.852.9
1,090,5
1,139,0
4,322,0
879,0
1.821.6
18,474,0
3,840,0
2.704.4
17,142,4
3.673.8
705.4
7.530.3
2,094,0
863,0
13,857,0
4,082,0
334.5
5.517.6
1,096,9
3,822,0
26.476.2
5.779.6
326.3
5,695,0
965,0
1,884,0
1,603,0
2,130,0
2,238,0
365,0
5,481,7
2,228,1
143.4
455.1
93,2
200,0
1.832.9
10,583,0
842.9
441.9
1,098,1
135.2
7.215.6
324.9
1,186,2
1,019,3
228.2
5,191,0
2,281,0
1,525,0
99,8
2,383,0
530,0
2,191,0
1.116.6
62,0
660.9
215,2
4.352.9
1.191,1
450.1
496.5
973.7
286.6
325.8
1,998,7
251.0
1,499,0
900.2
217.3
291,0
562,6
619,0
531,0
Deposits. ReAverage. s’ve
$
18,223,0
35,650,0
$.5
29.3
17,695,0 26.8
24,903,0 26.1
25.795.6 26.1
6.184.0 26.2
161,255,9 29.3
26.377.3 25.7
6,211,3 24.8
6.427.2 Y5.7
2,286,0 25.7
8.244.5 24.0
22.125.6 26.8
116,190,3 28.1
10.896.6 25.3
3.953.7 28.0
7.496.2 27.0
2.445.3 26.5
71.896.2 25.3
22.040.4 25.5
7.153.8 25.4
8.309.7 29.2
12,316,9 25.4
51,240,0 25.2
24,801,0 24.7
91,584,0 25.0
1,821,0 28.1
24,240.0 26.8
12,293,0 25.6
93.422.4 33.6
22.612.4 25.7
3.804,0 25.7
8.362.6 24.2
4.268.9 25.0
77.569.4 31.7
15.337.6 25.6
4.210.8 25.6
5.352.2 23.8
19,502,8 25.2
7.735.7 26.2
3.688.3 24.7
11.976.3 25.8
4,633,0 24.3
21,016,0 25.4
17,076,8 26.7
8.964.3 25.7
17,147,0 25.5
6.169.9 26.9
25.134.5 25.4
5,666,0 26.4
128.350.0 181,012,1 1200,990,7 259,726,8 74,098,7 1213.707,4 27.5
Jan. 22..
1214,747,3 264,859,2 73,846,6 1231,373,6 27.5
On the basis of averages, circulation amounted to
$51,772,300 and United States
deposits (Included in deposits) to $1,695,600; actual figures January 22,
circulation.
$51,845,900; United States deposits, $1,663,300.
The State
Banking Department also
furnishes weekly
companies under its
now
returns of the State banks and trust
charge.
These returns cover all the institutions of this class
State, but the figures are compiled so as to
distinguish between the results for New York City (Greater
New York) and those for the rest of the State,
as per the
following:
in the whole
STATE BANKS AND TRUST COMPANIES.
Week
State Banks
Trust Cos.
State Banks
Trust Cos.
in
in
outside of
outside of
Greater N. Y. Greater N. Y. Greater N. Y. Greater N. Y.
ended\Jan. 22.
$
$
Capital as of Nov. 16
26,075,000
63,425,000
of Nov. 16
38,586,700
Surplus
as
Loans and investments..
Change from last week.
Specie
167.632,400
10,719,766
10,652,956
298,520.800 1,062,350,100
+379,800
—7,976.900
89.956.300
+ 1,154,200
134,238.000
94,417.000
+ 1,197,000
140,681,700
—1.054,900
18,395,000
+ 5,00p
17,714,200
—491,200
20.2%
20.4%
13.2%
13.4%
49,036,100
+2,537,800
115,699,700
+ 192,200
Legal tenders A bk. notes
Change from last week.
25,678,300
—407,300
13,508,100
—56,800
Deposits
Reserve on
deposits
Change from last week.
P. C. reserve to
%
7,975,000
from last week.
'Change
$
8,758,000
342,108,900 1,110,101.200
+2.042,000
—119,300
92,056,100
+ 1,592,900
134,536,300
+ 163,200
27.4%
27.1%
15.7%
15.5%
deposits..
Percentage last week..
+ Increase over last week.
January 22.
%
40,032,555
31,379,909 + 27.6
31,400,844
26,433,324 + 18.4
15,772,621
11,053,241 +42.6
7,198,661
3,730,556 + 92.9
4,046,975
3,694,294
+9.5
2,263,303
2,143.402
+5.6
2,011,125
1,805,349 + 11.4
1,687,881
1,450,692 + 16.3
1,589,218
1,344,589 + 17.5
2,231,516
1,348,479 + 65.5
1,286,745
1,042,717 +23.4
1,809,618
1.083.095 +67.0
1,223,802
699,754 +74.9
619,776 Not Included in total
112,554,864
York
Change from last week.
CLEARING-HOUSE RETURNS.
Canadian Bank Clearings.—The clearings for the week end¬
ing Jan. 22 at Canadian cities, in comparison with the same
week of 1909, show an increase in the
aggregate of 29.1%.
Clearings
LXXXX
Statement of New Tork City Clearing-House Banks.—The
detailed statement below shows the condition of the New
Jan. 21
to
Feb.
1
Holders of rec. Jan. 10
to
Mch. 1
Feb 10
to
Mch. 1
Feb. 10
Jan 13
1
to
Feb.
1
Jan. 21
to
Feb.
7
Holders of rec. Feb.
Holders of rec. Jan.lSa
Holden of rec. Jan. 31
Mch. 1
Feb. 16
to
Feb.
1
Jan. 19
to
2
May
April 17 to
8
of
rec.
Jan.
Holden
8
Holden of rec. Jan.
Feb. 10 Feb.
1
to
Holden of rec. Jan. 31d
1
Jan. 26
to
Feb.
to
Feb. 23
Feb. 19
Jan. 25
to
Jan. 31
1
1
1 Holden of rec.
1 Jan. 22
to
1 Jan. 22
to
to
1 Jan. 22
25 Holden of rec.
25 Holden of rec.
31 Holden of rec.
23 Feb.
to
3
15 Holden of rec.
15 Holders of rec.
15 Holden of rec.
1 Holden of rec.
1 Jan. 21
to
15 Feb.
2
to
1 Jan. 27
to
1 Holden of rec.
1 Jan. 21
to
1 Holden of rec.
31 Jan. 16
to
31 Jan. 16
to
30 Mch. 16
to
30 Mch. 16
to
28 Feb.
4
to
1 Jan. 16
to
10 Holden of rec.
1 JaD. 21
to
1 Holden of rec.
[VOL.
—
•
—230,200
Decrease from last week.
Note.—"Surplus” includes all undivided profits. ’ Reserve on deposits” In¬
cludes, for both trust companies and State banks, not only cash Items, but amounts
due from reserve agents.
Trust companies in New York State are required by
law to keep a reserve proportionate to their deposits, the ratio
varying according
to location as shown below.
The percentage of reserve required Is computed on
the aggregate of deposits, exclusive of moneys held in trust and not
payable within
thirty days, and also exclusive of time deposits not payable within 30 days, repre¬
sented by certificates, and also exclusive of deposits secured by bonds of the State
of New York.
The State banks are likewise required to
keep a reserve varying
according to location, but in this case the reserve Is computed on the whole amount
of deposits, exclusive of deposits secured by bonds of the State of New York.
Reserve Required for Trust
and Stale Banks.
Location—
Manhattan Borough
Companies
—Trust Cos.—
Total
Of
Reserve
which
—State Banks—
Total
Of
Reserve
which
Required in Cash.Required, in Cash.
15%
25%
15%
Brooklyn Borough (without branches In Manhat)_15%
10%
20%
10%
Other Boroughs (without branches In Manhattan). 15%
10%
15%
7H%
Any Borough with branches in Manhattan
....15%
15%
25%
15%
Elsewhere in State
5%
15%
6%
-
Banking Department also
separate figures indicating the totals
The
for the State banks and
New York not in the Clearing
In addition, we
in the table below, as are
average) for the Clearinghave combined each corre¬
sponding item in the two statements,
gate for the whole of
Greater New York.
Clear .-House
Banks.
Week ended Jan. 22.
thus affording an aggre¬
the banks and trust companies in the
CITY BANKS AND TRUST COMPANIES
NEW YORK
Clear.-House State Banks A
Banks.
$
%
$
Total of all
Banks A Trust
Cos. Average.
Trust Cos. not
in C.-H. Aver.
Average.
ActualFigures
$
Capital as of Nov. 16..
127.350.000
127,350,000
73,550,000
200,900.000
Surplus as of Nov. 16..
180,024,400
180,024,400
176,431,300
356,455,700
Loans and Investments
1,214,747,300 1,200,990,700
1.157,687,100 2,358,677,800
+ 2,369,600
—8,362,100
+ 10,731,700
Change from last week +20,030.600
Change from last week
Specie
Change from last week
264,859,200
259,728,800
+ 10,530,400
+ 13,875,800
Legal-tenders
Change from last week
73,846.600
—1.035.300
74,098,700
+ 270,600
521,930,500
—405,500
96,029,200
—134,900
Aggr’te money holdings
Change from last week
338.705.800
+ 9,495.100
333,825,500
+ 14,146.400
cl44.169.100
—232,100
477,994,600
+ 13.914,300
20,278,100
—571,400
20,278,100
—571,400
122,238,600
+ 173,400
Money on deposit with
other bks. A trust cos.
Change from last week
381,965,400
164,447.200i
333,825,500
+ 14,146,400
—803,500
Percentage to deposits
requiring reserves -..
Percentage last week..
27.52%
27.34%
27.53%
26.87%
17.0%
16.9%
30,862,400
30,398,650
498,272,700
+ 13,342,900
COMBINED RESULTS OF BANKS AND TRUST
GREATER NEW YORK.
COMPANIES IN
Specie.
Deposits.
$
$
2.389.978.6
2.381.234.4
2,371.455,0
2,381,734,9
2.400.207.6
2.401.557.5
2,310,511,4
2.296,068,3
2.287,814.6
2.306.845.1
2.327.891.3
2.326.424.3
2.385.298.8 2,326,589,9
2,356,308.2 2.318.525.2
22.. 2.358.677.8 2,325,319,8
Holdings.
$
89.617.2
91.137.3
348.630.4
352.494.6
356,082,2
91.157.5
93.113.6
354.160.6
354.561.9
367,916,2
381.965.4
on
'
91.086,3
89.809.7
91.815,0
96,164,1
96,029,2
Deposit.
465.572.1
461.180.6
461.271.6
439.999.1
439.787.9
445,608,2
447.168.5
443,970.3
446.376.9
464,080.3
477.994.6
tal.
Sur-,
plus.
Disc’ts
and
Invest¬
468.252.6
468,862 5
468.123.1
484,929.8
498.272.7
(00) in all these figures.
Legal
ments.
N.
Y.
Tender
and
Specie.
Bank
Notes.
Imports and Exports for the Week.—The following are *
the imports at New York
totals since the beginning
$
...
_.
..
$
247,4
151,8
311,0
458,9
159,3
586,9
287,6
328,5
412,4
103,9
959,3
446,0
243,5
150,3
315,9
$
$
$
40,0
144,0
1,213,0
129,8j
25,4
1,463,9
462,7
5,356,5
679,1
625,0
676,0
6,387,0
66,4
125,0
1,126,8
519,0
14,5
3.539.4
452,0
32,3
2,481,4
588,0
26,7
3,620,8
496,0
326,0
4,250,0
49,4
170,3
1,718,4
8,271,2 1,069,6 1,000,0
725,8
3,993,6
47,5
79,0
2,202,0
237,0
31,4
210,2
1,194,2
24,4
422,2
1.916,3
200,0
Mfre.* Nat.
252,0
Mechanics’. 1,000,0
Nassau Nat.
750,0
Nat. City..
300,0
North Side.
200,0
First Nat..
300,0
.
32,8
335,7
160,7
577,4
1,168,5
350,4
321.0
610,0
590,0
105,0
101,1
136,2
315.0
78,0
ing
Agent.
Net
Other
Banks, Deposits.
$4,877,498
18,339,609
$2,373,085
87699,955
$2,215,777
5,161,119
$4,469,382
11,686,179
$23,217,107
$11,573,040
$7,376,896
$16,155,561
11,156,878
43,463.776
$10,232,169
32,389,388
$8,655,682
19,995,431
$12,011,026
36,064,784
$54,620,654
$42,621,557
$28,651,113
$48,075,810
Dry Goods
General Merchandise...
Since Jan. 1.
Dry Goods
General Merchandise
Total 3 weeks
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Jan. 22 and from Jan. 1 to date:
EXPORTS FROM NEW YORK FOR THE WEEK.
400,0
250,0
200,0
1,237,1
745,6
384,8
4,937,7
220,0
125,0
623.7
249,6
2.560.1
2,802,3
2,131,7
2,609.9
314,8
155,3
64.6
392,8
44,4
135,9
122,2
76,1
82,4
18,0
$13,970,974
24,853,758
106,0
57,9
636,3
576,0
111,9
219,0
299,7
411,7
473,0
241,2
258,4
240,3
261,0
78,9
128,8
132,9
193,5
1,170,0
1,523,6
6,725,4
7,623,0
1,196,9
292,5
98,9
5,2
«
-
-
-
-
254.5
10,0
25,1
3,636,6
3,155,5
4,186,8
5,020,0
1,988,4
8,264,0
5,115,2
2,369,0
1,155,3
1,783,2
257,6
707,3
1,306,6
1,243,0
578,0
187,9
44>1,0
103,2 3,644,4
115,4 6,468,0
249,8 13,998,0
-
-
189,0
104,0
52,0
6,947,0
5,087,0
2,123,9
$38,824,732 $41,973,041
Total 3 weeks
$11,232,893
26,538.754
$16,699,808
35.375,549
$52,075,357 $37,771,647
following table shows the exports and imports of
specie at the port of New York for the week ending Jan. 22
and since Jan. 1 1910, and for the corresponding periods in
The
1909 and 1908:
EXPORTS
AND
OF
IMPORTS
SPECIE
AT
NEW YORK.
Imports.
Exports.
Odd.
Since Jan. 1.
Week.
Week.
*
SlnceJan. 1.
$972
...
_
-
Mexico
South America
All other countries
$52,700
$92,700
$1,249
6,689
1,350,000
2,616,500
62,730
500
500
14,955
167,539
37,501
$1,403,200
763,125
22,500
$2,709,700
6,693,125
54,425
$63,979
120,689
396,916
$227,656
536,830
4,590.239
$1,361,411
41,250
$2,908,918
..
Total 1910.
Total 1909.
Total 1908
7,715,1
2,553,4
2,377.3
79,0
2,169,6
234,7
2,987,1
110,7
64,1
■1
$1,530
SUver.
Great Britain
France
_.
120,050
500
740
Germany
West Indies
Mexico
South America
All other countries
500
984
1,137
3,955
4,525
5,782
73,886
136,032
32,231
..
19,908
.
Total 1910
Total 1909
Total 1908
-
$1,403,901
974,780
821,646
$3,033,423
2,867,055
2,263,343
$25,417
68,104
$250,598
142,077
348,206
326.605
the above imports for the week in 1910,
$1,215
American gold coin and $2,733 American silver coin.
Of the exports during the same time, $1,403,200 were Ameri¬
can
gold coin and $were American silver coin.
Ifiuaticial.
INVESTMENT SECURITIES
Our eight-page
investment bonds
circular No. SS7 describes several issues of sound
yielding about 4H to IH%.
Spencer Trask & Co.
WILLIAM AND P1NB STS*.
NEW YORK
Brandi offices: Chicago. ILL.* Boston. Mass.. Albany. N. Y.
&
White
BANKERS
Members New York Stock Exchange
5 NASSAU STREET.
THE ROOKERY
NEW YORK
OHIOAGO
3,192,0
2,259,6 1,496,0
189,5
187,0
16,0
439,0
BANKING and EXCHANGE of every description In connection
with
EXPORTS & IMPORTS
International Banking Corporation
•0 Wall St.. New York.
CAPITAL A SURPLUS. S6.500.000
BRANCHES and AGENCIES throughout the WORLD.
,
Boston and Philadelphia Banks.—Below is a summary of
the weekly totals of the Clearing-House banks of Boston
and Philadelphia.
$15,579,505
26,393,536
1907.
1908.
$
$
$
Tot. Jan. 22 8.447,0 12,968,9 100108.7 7,485.3 8.297.7 11.881,9 3,841,2 114175,7
Tot. Jan. 15 8,447,0 12,968,9 100405.8 7.734.1 8,578,8 14,431,5 4,915,0 118875.9
Tot. Jan. 8 8.147.0
7,217.0 8.394,8 12,845,9 3,648,8 112172,8
12.395.9j 96,029.5
!
1909.
Ac.
Jersey City.
First Nat..
Hud.Co.Nat
Third Nat..
Hoboken.
First Nat..
Second Nat.
1907.
1908.
1909.
1910.
For week.
Moffat
541.1 3,276,1
798,7 6,002.0
934,7 11,071,6
966,4 6.740,0
607,5 3,973,0
144,0 1,850,8
573,0 3,419,0
*
FOREIGN IMPORTS AT NEW YORK.
were
Deposit with
Clear¬
Brooklyn.
Broadway
for the week ending Jan. 22; also
of the first week in January:
and
...
146,632,1
202,189.6
165,786.1
163,351,5
Including Government deposits and the Item “due to other banks.”
At
amounted to $3,030,000 on January 22, against
$3,029,000 on January 15.
City
100,0
200,0
Colonial
400,0
Columbia..
300,0
Fidelity
200,0
Jefferson.
500.0
Mt. Morris.
250,0
Mutual
200,0
Plaza
100,0
23d Ward..
200,0
Un.Ex.Nat. 1,000,0
Yorkvllle
100,0
NewNeth..
200.0
Bat. Pk. Nat.
200,0
Aetna Nat.
300,0
Borough of
Century
16,819,0
16,815,0
16,7800
16,751,0
214,234.1
Of
Boroughs of
Man.ABrx.
Wash. H’ts
303.852.0
309,307,0
307,5980
304,544,0
186.145.6
a
467,258,3
Reports of Non-Member Banks.—The following is the
banks for the
week ending Jan. 22, based on average daily results:
Loans,
221.566,9
202,785,8
%
$
444.279.1
statement of condition of the non-member
We omit two ciphers
$
7,089.0
7,134,0
7,110,0
7,069,0
..
Legals.
$
354.661,9
348.861.8
66.748.0
69,401,0
68,464,0
68,167,0
Germany
West Indies
Tot. Money Entire Res.
Loans and
Investments.
1
$
239.143,0
241,979,0
242,901,0
249.085.0
•
Great Britain
France
in all these figures.
We omit two ciphers
Capi¬
258,618,0
259,360,0
261,084,0
259.575,0
4,631.0
4,726,0
4,915,0
4.628,0
Boston Government deposits
The averages of the New York Clearing-House banks
combined with those for the State banks and trust companies
in Greater New York outside of the Clearing House compare
as follows for a series of weeks past:
Banks.
56,315,0
56,315,0
56,315,0
56.315,0
Previously reported
deposits amounted to $1,222,594,800, a decrease of $1,502,600 from last week.
In the case of the Clearing-House banks, the deposits are “net” both for the average
and the actual figures,
b Includes bank notes, c Of this amount State banks
held $14,961,300 and trust companies $129,207,800.
27..
4..
11..
18..
24..
31..
8..
15..
188,936.0
190,296,0
180,482,0
192,567,0
1910.
+ Increase over last week.
— Decrease
from last week.
a Th we are the deposits after eliminating the item “Due from reserve depositories
and otner banks and trust companies in New York City”; with this item included,
Nov.
Dae.
Dee.
Dee.
Dee.
Dee.
Jau.
Jan.
Jan.
40,300,0
40,300,0
40,300,0
40.300,0
%
r%
21,698,0
23,299,0
23,533,0
23.481,0
$
$
Boston.
Dec. 31„
Jan.
8..
Jan. 15..
Jan. 22..
Phils.
Dec. 31..
Jan.
8..
Jan. 15..
Jan. 22..
Clearings.
lation.
For the week
Surplus reserve
Deposits, a Circu¬
Legals.
Specie.
Loans.
•
Total
338,705,800
+9.495,100
Week
Ended.
and
Surplus.
+ 14,049,200
Change from last week
Total reserve
ctphert (00) in all these figures.
Capital
Banks.
1.231,373.600 1,213,707,400 al,111,612,400 2,325,319,800
+ 6,794,600
+ 23,013,400
—16,218,800
+ 26,057,400
Deposits
'■
We omit two
undertakes to present
trust companies in the Greater
House.
These figures are shown
also the results (both actual and
House banks.
285
THE CHRONICLE
JAN. 291910.
THE INTERNATIONAL
BANK
Organised under the Lews of N. Y. State.
00 WaO St.. New York •
Aooounta invited.
Interest paid on Term Depoelte.
THOMAS H. HUBBARD President.
386.
THE CHRONICLE.
[Yol.
LXXXX.
selling, j?;i-10 premium.^ Sanj Fran cisco,'Jsight, 7 34c$1,000 premium;
telegraphic,^1234c.
per
$1,000 premium.
per
Savannah, buying, 3-16 discount; selling, par.
15c. per $1,000 discount.
Montreal, par.
St. Louis,
Money Market and Financial Situation.—The extreme
State and Railroad Bonds.-*-Sales of State bonds at the
sensitiveness of the security markets has been
forcibly illus¬ Board, $10,000
Virginia 6s deferred trust receipts at 50.
trated this week.
While there has been practically no change
The market for
in the general situation, and no
railway and industrial bonds has been
developments having a
direct bearing upon actual values, the markets have been fairly active, owing to the interest which has attached to a
few issues.
In a majority of cases
prices are lower, in sym¬
alternately weak and strong, and prices have fluctuated
pathy
the
stock market, convertible issues, of course,
with
widely. No doubt the results noted are in part due to
skilful manipulation by professional traders on both sides being most conspicuous in the decline.
Wall
The
Street, Friday Night, Jan. 28 1910.
of the market, but it is also true that
rarely have conditions
been such that the success of each could be so marked.
Some of the depression in this market was caused by the
great flood in Paris which, after making due allowance for
exaggerated reports, is a very serious matter, not only for
France but, sympathetically at least, for the whole world.
At the same time it is reported on good
authority that the
H
iron and steel industry shows a
for railway equipment have
slackening tendency. Orders
recently been canceled and a
manufactory of such material in
the West has found it
neces¬
to reduce its operating force on account of such cancel¬
lations.
On the other hand, the declaration of an extra
%
of 1% dividend on United States Steel common stock had
a favorable
effect, upon sentiment at least, and further ease
in the money market caused a
temporary decline of call-loan
rates to 194%, and considerable business has been done at
between 2 and 3%. The minimum rate mentioned is the
lowest recorded since the early part of
August.
The open market rates for call loans at the Stock
Exchange
during the week on stock and bond collaterals have ranged
from 1% to 33^%.
To-day's rates on call were 2% @3%.
Commercial paper quoted at 4J/£@5% for 60 to
90-day en¬
dorsements, 4 3^2 @5% for prime 4 to 6 months’ single names
and 5@53^% for good single names.
HjThe Bank of England weekly statement on Thursday
showed an increase in bullion of £441,074 and the
percentage
of reserve to liabilities was
51.85, against 50.75 last week.
The rate of discount remains
unchanged at 33^%, as fixed
Jan. 20.
The Bank of France shows an increase of
25,000
francs gold and an increase of 1,150,000 francs silver.
sary
NEW YORK CITY CLEARING-HOUSE BANKS.
1910.
Averages for
week ending
Jan. 22.
Differences
from
previous week.
1909.
1908.
Averages for
week ending
Averages for
week ending
Jan. 23.
Jan. 25.
'
$
Capital
Surplus
$
S
%
127,350,000
126,350,000
129,100,000
180,024,400
165,447,700
163,396,900
Loans and discounts
1,200,990,700 Inc. 10,731,700 1,335,045,900 1,135,569,700
Circulation
51,772,300 Dec.
178,500 m 49,113.000
70,053,300
Net deposits
1,213,707,400 Inc. 23,013,400 1,417,776,200 1,127,168,000
U. S. dep. (incl. above)
1,695.600 Inc.
52,800
6,219,300
69,608,400
Specie
259,726,800 Inc. 13,875,800 *302,852,100
250,242,700
Legal tenders
74,098,700 Inc.
270,600
L81.979.400
68.613,800
Reserve held
333,825,500 Inc. 14,146,400
303,426,850 Inc. 5,753,350
25% of deposits
JTSurplus
reserve
318,856,500
281,792,000
30,398,650 Inc.
8,393,050
30,387,450
37,064,500
30,822,550 Inc.
8,406,250
31,942,275
54,466,600
UMM
Surplus excl. U. S. dep.
384,831,500
354,444.050
Note.—The Clearing House now issues a statement
weekly showing the total
of the actual figures on Saturday morning.
These figures, together with the returns
of separate banks, also the summary issued by
the State Banking Department
showing the condition of State banks and trust companies not
reporting to the
Clearing House, appear on the second page preceding.
Foreign Exchange.—The changes^in^foreign discountrrates
this week have been irregular; the
principal feature has been
a
sharp advance in Berlin. Foreign exchange operations
here have been fairly active at a
slightly higher range than
last week, although fluctuations have been narrower than
usual.
Business in francs was disorganized,
owing to the
interruption to cables between this centre and Paris.
To-day’s (Friday’s) nominal rates for sterling exchange
were 4 8434 for
sixty day and 4 8734 for sight. To-day’s
actual rates for sterling
exchange were 4 8390 @4 84 for
sixty days, 4 8620@4 8625 for cheques and 4 8660@4 8665
for cables.
Commercial on banks 4 8340@4 8350 and docu¬
ments for payment 4
8234@4 83%. Cotton for payment
4 82J4@4 83 and grain for
payment 4 83 34 @4 8394.
To-day’s (Friday’s) actual rates for Paris bankers’ francs
were 5 20@5 1934
for long and 5 1734 loss 3-32@5 1 734 less
1-16 for short.
Germany bankers’ marks were 94
94 11-16 for long and 95 1-16 less
1-32@95 1-16 for short.
Amsterdam bankers’ guilders were 40
05@40 07 for short.
Exchange at Paris on London, 25f. 1934c.; week’s range,
25f. 1994c. high and 25f.
1834c. low.
Exchange at Berlin on London, 20m. 4634pf.; week’s
range, 20m. 47J4pf. high and 20m. 45%pf. low.
The range of foreign
exchange for the week follows:
Sterling, Actual—
Sixty Days.
High for the week
Low for the week
Paris Bankers’ Francs—
High for the week
Low for the week.
Germany Bankers’Marks—
High for the week
following
Cables.
4 86%
4 8610
4 8685
4 8660
P 19%
5 20 less 1-16
5
5
5
5
94%
Low for the week.._
94 9-16
Amsterdam Bankers’ Guilders—
High for the week
40
Low for the week
39 15-16
The
Cheques.
4 84
4 83%
17% less 1-32
18%
95%
16% less 1-16
17% less 1-32
95
95 3-16
95^ less 1-32
40%
40 3-16
40 1-16 less 1-32
40% less 1-32
the rates for domestic exchange at the
undermentioned cities at the close of the week:
Chicago, 30c.
per $1,000 discount.
Boston, 5c. per $1,000 discount. St.
Paul *60c.r ner?$1,000Jpremium.
Charleston,
are
buying,
par;
United States Bonds.—Sales of Government bonds at the
Board are limited to
$2,000 4s coup., 1925, at 115%.
The following are the
daily closing quotations; for yearly
Interest
Periods
2s,
2s,
3s,
3s,
3s,
48,
4s,
2s,
2s,
*
1930
..registered
1930
coupon
1908-18
registered
1908-18
coupon
1908-18
small coupon
1925
registered
1925
coupon
1936.Panama Canal regis
1938-Panama Canal regis
Q—Jan
Q—Jan
Q—Feb
Q—Feb
Q—Feb
Q—Feb
Q—Feb
Q—Feb
Q—Nov
Jan.
22
Jan.
24
*100% *100%
*100% *100%
*101% *101%
*101% *101%
Jan.
25
Jan.
26
Jan.
27
*100 % *100% *100 %
Jan.
28
*100%
*100% *100% •100% *100%
*101% *101% *101% *101%
*101% *101% *101% *101%
*114% *114% *114% *114% *114% *114%
*114% *114% *114% *114% *114% 115%
*100
*100
*100
*100
*100
*100
*100
*100
*100
*100
*100
*100
This is the price bid at the morning board; no sale
was made.
Railroad and Miscellaneous Stocks.—The
tendency of
prices in the stock market during the early part of the week
was
again downward, the
movement
carrying a long list of
points below last week’s closing
prices. There was a substantial recovery on Wednesday,
but on Thursday the market again declined.
To-day the
prevailing tendency was reversed and closing prices are well
above the lowest.
A large portion of the active list is from 2
to 5 points lower than at the close last week.
Union Pacific led the railway list in a
drop of fractionally
over 10 points.
When at the lowest, Reading was down
nearly 9, So. Pacific 6 and other leading issues from 5 to 6
active stocks from 4 to 10
Soints. Some of the industrial issues covered wider
a of 13 points,
range.
few York Air Brake was exceptional in a decline
Columbus & Hocking Coal & Iron added 11
points, to the
heavy decline noted last week, Consolidated Gas lost over
10 points, Smelting & Refining 7,
Amalgamated Copper and
Pitts. Coal preferred 634 and other issues on this list from
5 to 6 points.
U. S. Steel common has been very active,
has covered a range of 5% points, and,
notwithstanding the
extra dividend, closes with a net loss of 3
points.
For daily volume of business see page 296.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
stocks.
Week ending Jan. 28.
Sales
BatopUas Mining
Range for Week.
for
Week.
Lowest.
870 S3
100 105
200 175
100 119
Jan
Jan
Jan
Jan
Highest.
Lowest.
$3% Jan
Buff Roch & Pittsb
105
Jan
Can Pac sub rects 1st pd.
Jan
175
Cent & So Am Teleg
119
Jan
Chic & N W rights.
14,378 13% Jan
14% Jan
Col Fuel & Iron, pref...
400 112% Jan
113
Jan
E I du Pont Powd, pf...
150 86
Jan
86
Jan
General Chemical
125 99% Jan
99% Jan
Preferred
351 103% Jan
105
Jan
Homestake Mining
410 83% Jan
83% Jan
Manhattan Beach
300
3
Jan
Jan
3
N Y Dock, pref
134 82
Jan
83
Jan
N Y N H & H sub rets,
1st install paid
2,100 145
Jan 25 146% Jan
Nor Ohio Trac & Lt
100 35% Jan 25 35% Jan
Ontario Silver Mining—
700
3
Jan
2% Jan 22
Penna sub rets, 1st in¬
stallment paid
1,150 131
Jan
131
Jan
St Jos &Gr Island
100 19% Jan
19% Jan
First preferred
50 55
J an
55
Jan
Second preferred...*.
100 39% Jan
39% Jan
South Porto Rico Sugar.
100 81% Jan
81% Jan
U S Rubber rights
2,417 1-32 Jan
% Jan
Wells Fargo & Co rights
34 150
Jan
150
Jan
«
Range since Jan. 1.
S3
101
175
115
.88
86
94
103
—
__
.
80%
3
82
28 145
25 35%
26
2%
24
129%
19%
25
25
55
25 39%
25 81%
24 1-32
27 150
Outside Market.—The unsettled conditions
Highest
Jan S3%
Jan 106
Jan 175
Jan 120
Jan 16%
Jan 120
Jan 88
Jan 99%
Jan 105
Jan 85
Jan
3
Jan 83%
Jan 148%
Jan
Jan
36%
3
Jan 133%
Jan 19%
Jan 55
Jan 39%
Jan 85
Jan
%
Jan 150
on
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
the Ex¬
change were credited with causing the downward movement
of prices in the “curb” market the fore part of the week.
A
better feeling was in evidence for a while on the announce¬
ment of the long-talked-of copper merger, but the improve¬
ment was soon lost, and declines became general throughout
the list.
Boston Consolidated lost about 134 points to 1734>
then sold up to 20^4, the close to-day being at 20.
Butte
Coalition, after a loss of about 2 points to 25, rose to 2734 and
fell off finally to 2634Gila receded from 934 to 834. re¬
covered to 9 and ends the week at 8%.
Giroux went up from
10Ys to 1134, then down to 934. and finished to-day at 10.
Greene Cananea sank from 10}4 to 9 and advanced to 1094
with the final quotation to-day 10 1-16.
Miami fell 2^
points to 23, ran up to 24% and closed to-day at 24%. Ne¬
vada Consolidated broke over 2 points to 23 and advanced to
2434. moving dOwn again to 23%. Goldfield Consolidated
improved from 7% to 7 15-16 and closed to-day at 7 9-16.
Kerr Lake declined from9 5-16to 8% and finished to-day at 9.
American Tobacco dropped from 412 to 387 and advanced
sharply to-day to 397. Standard Oil moved up from 647 to
651, then down to 640, recovering finally to 643. United
Cigar Mfrs. common gained a point to 8934. sold off to 87%
and was subsequently traded in at 88% for odd lots.
Chicago
Subway weakened from 4% to 4. Kansas City Mexico &,
Orient was traded in down from 22% to 2134 and up
to 21 %.
Western Pacific 5s ranged between 97% and 97%.
Outside quotations will be found on page 296.
>
(
New York Stock
Exchange—Stock Record, Dailv. Weekiv and Yearly
•r
OCCUPYING
STOCKS—HIGHEST AND LOWEST SALE PRICES
Jan
22
10334 10334
129
131
130« 2
11534 11634
1165s 117
*93*2 94%
7334 75
18012 181
*68
*300
Jan
11634 118%
1183s 119*8
*10334 104
131
Tuesday
Monday
Jan 24
Saturday
94
72%
180
*68
*300
72
310
94
*68
*295
87l4
84%
5934
63
70
607g
61
597s
148%
167l2
15912
*204
*148
*160
*4%
*9
79*4
*103*4
583s
*81
*80
*176*2
*580
45
8012
64
15
29*2
31
483s
37«4
135
753s
15*2
*88i2
*94l2
*106
*
”3134
32%
60%
149
168
1597s
5£%
167
158
*204
*145
*160
*4
210
155
175
5
12
46*2
40
*580
610
43%
45%
81
66
*80%
15
29! ■>
*15
*64
*28
29%
48%
31%
48%
37*4
13578
76%
15%
90%
9934
12234
*37
61
*581 •>
60
*58
145% 146%
14634 14734
166
166%
156% 158%
165% 1071"
155% 1567s
*200
*145
*160
*4
*10
77
208
150
175
5
*200
*145
*160
15*4
*90%
;95%
106
*...
610
39%
30%
48%
373;
421'
79%
67
15
28
277g
297f,
46%
35%
48
37
131*4 133%
70
73%
15
15%
96
92%
993,
94%
106
♦104
*__.
90
15
92%
94%
12234
90
22
25
47
*24%
577*
25%,
80
*77
47
80
*44
*77
*46
3834
40%
85
135
*__.
46
80
*
90
14234 143%
21
217g
55% 56%
142% 143%
21% 22
5434 56%
*22
*43
*77
22
*40
24
45
80
_
22%
*60%
22%
60%
60%
*59%
69
*64
140
63
60%
63
*61
143% 145%
13634 137%
1443g 145“g
13634 137%
25
45
83
130
27%
131
63
§63
26% 27
11634 118
59% 60
1191'
63
118
*104
*90
97
156
*155
*100
132
97
*110
105
104
86
65*2
3012
74*2 74%
130% 13134
31
31%
6812 69%
32%
1534
*12
4984
6778
11234
198%
33%
16%
14%
4934
68%
113
193%
118
98
25
45
82
136
*20
45
*75
134
153
68
1253g 128
287g 301,8
65
66%
14%
15%
1234
473s 48%
68% 68%
112% 112%
189% 19238
99% 100%
22%
5134
50%
59%
213s
48*8
49
6
12
*7%
48
11
11
4434
45
67
67
111
11134
18334 189
98% 99%
27
2734
118% 119%
60
*104
*92
156
60
118
96
110
114
*99
*109
132
128% 129%
29% 30%
66
67%
31% 3I84
15% 16
11% 11%.
46
46%
67
67
11134 112
186% 188
99
9934
*131
61
27
135
61
60
*104
*92
61
118
97
2734
117% 119! 8
156% 15612
44% 4434
96
9634
110
110
114
110
*100
*108
126%
2834
66%
31
15
*11
*44
*64
11134
183%
9834
2138
21%
4634
473s
49
49
4734
49
46*4
48
6
12
6
11
6%
11%
7%
6%
11%
49%
6%
11%
6%
46%
47%
*5%
47%
6%
§46%
300
Il478 Jan
103% Jan
125i2 Jan
5734
81%
108%
58
81%
80% 801 •>
172% 173
114U Jan
Baltimore
& Ohio
Do pref...
92"i
44,150 Brooklyn Rapid Transit.
4,690
Canada Southern _.
Canadian Pacific.
Jan
70% Jan
177'8 Jan
70
Jan
200 Central of New
100 Chic St P Minn & Omaha
Do pref
200 Chic un Trac ctfs stmpd
Do pref ctfs stmpd
200
1,600 Cleve Cin Chic & St L
Do pref
4,700 Colorado & Southern
1,920
1,300
3,635
*__.
610
42% 421
*86
143
21%
55%
2234
44
♦75
38
68%
*22
*59%
*62
145
*91%
4134
71
68%
♦131
61
90
143
22
56%
2378
44
80
38
68%
25
62
68
147
136
25
92%
43%
71
69%
135
61
27% 27%
11834 120
*60
*104
*92
63
118
98
15634 15734
44% 45%
96% 97%
136
*108
92
13784
preferred..
preferred
Delaware
& Hudson
elaware Lack
& West.
145
Jan
Jan
Jan
5170
4
912 Jan
77
Jan
10334 Jan
56
80
80
Jan
Jan
Jan
171% Jan
590
Jan
39i2 Jan
79
61
720 Duluth So Shore & Atlan
Do pref
2,275
Jan
Jan
1434 Jan
26
Jan
34.350 |7rie
.....
2778 Jan
Do 1st pref..
46
6.450 -Ej
Jan
Do
2d
1,300
pref
.....
36i2 Jan
49,380 Great Northern pref
z13034 Jan
Iron Ore properties
70
Jan
19,150
21 Green Bay & W, deb ctfB
1434 Jan
300
88i2 Jan
Havana
Electric..
Do pref
250
100 Hock Val J P M & Co rets
Hocking Valley pref
2,400
nterboro- Metro poll tan
58,100
Do pref
43,700
Iowa
Centred
2,425
Illinois Central
600
Do
_
pref
94i2 Jan
10,235
1,700
700
500
200
Do
City Southern
pref
LakeDoErie
& Western
pref
Long Island
13,600 Louisville & Nashville
814
750
Manhattan Elevated
etropolltan Street
Minneapolis & St Louts
Do pref
5,835 Minn St P & S S Marie
Do pref
Do leased line ctfs....
Mo
Kansas & Texas
39,500
Do pref
800
17,700 Missouri Pacific
300
at Rys of Mex 1st pref
550
Do 2d pref
14,950
N
Central & Hudson
Y
68,130
2,000 N Y Chic & St Louis
Do 1st pref
Do 2d pref
926 N Y N H & Hartford....
Y Ontario & Western.
N
11,025
7,210 Norfolk & Western
Do adjustment pref
300
750
200
Nash Chatt & St Louis,
44,550 Northern Pacific
280
114
110
114
pacific Coast Co
i
36
58%
20%
11
*6%
46%
11918 Jan
94
Jan
8OI4 Jan
182i8 Jan
70 Jan
312
92
Jan
Jan
TjOM&I
Highest
2414 Jan
30
Jan
3678 Jan
6418 Jan
1583s Jan
17214 Jan
182i2 Jan
225
150
Jan
Jan
fl70 Jan
5% Jan
1214 Jan
825g Jan
104
Jan
6214 Jan
82I4 Jan
81
185
600
52
84
66
Jan
Jan
Jan
Jan
Jan
Jan
1834
34%
345g
5212
4134
14378
8OI2
Jan
Jan
Jan
Jan
Jan
Jan
Jan
18
Jan
Jan
Jan
94
99
19% Jan
5378 Jan
25i2 Jan
627g Jan
Jan
30
Jan
5414 Jan
22
44
90
Jan
Jan
147
Jan
3634 Jan
44U Jan
67
22
71
Jan
Jan
Jan
Jan
25*4 Jan
6234 Jan
xl43% Jan
13612 Jan
15934 Jan
13812 Jan
60
63
23
45
Jan
Jan
9778 Jan
10014 Jan
107i2 Jan
103% Feb
Nov
91
Jan
67
Mch
xl65
60L Jan
Feb
215
5558 Jan
69
Jan
Jan
25
Jan
5334 Jan
70
hS
130% Jan
Jan
9134 Jan
4 Pa Jan
6912 Jan
66
130
61
Jan
Jan
Jan
24% Jan
11534 Jan
58
Jan
10934 Jan
98
Jan
154i2 Jan
4358 Jan
95
Jan
8818 Jan
zl31% Jan
110
Jan
14218 Jan
15334 Jan
9234 Jan
5118 Jan
745g Jan
723g Jan
139
64
Jan
Jan
2858 Jan
125i2 Jan
6512 Jan
10934 Jan
98
158
50
A
St L & San Fr, 1st pref..
Union Pacific
Wabash
—
.
Jan
Jan
Oct
68
100
61
59
£121
137
18
51
Jan
Jan
Dec
81
Mch
17H2 Jan
93
Jan
110i2 Jan
5714 Jan
0H2 Jan
73
60
Jan
Jan
34i2 Jan
7712 Jan
xl38% Jan
3334 Jan
75
Jan
36*4 Jan
19i2 Jan
1534 Jan
543g
7214
117i2
20434
10334
4214
72*8
2734
Jan
Jan
Jan
Jan
Jan
Jan
Jan
61
Jan
Jan
52% jan
10
23
Jan
Jan
13i2 Jan
52
Do pref Trust Co ctfs.
21
39
46
21
103
100
126
94i'>
42
65
90
69
100
95
102
...
Feb
Oct
J ly
.
1514 J’ly
0i2 J'»y
J’ly
Aug
Dec
*' •
115
Sep
Deo
15H4
9978
116*4
173*8
Sep
Deo
Sep
Sep
81
Deo
Deo
60*4 Sep
35*8 Dec
74
82
Dec
139's Aug
34
Aug
12% Dec
7
May
41
221
5
Dec
9434 Deo
Feb
J»n
Feb
Feb
50i4 Feb
15
Feb
Nov
Feb
Nov
96
Aug
117*2 Deo
20*2 Feb
47i2 Jan
114% Feb
Mch
Jan
Jan
Jan
17434 J’ne
55% J’ne
Feb
x91
30
Aug
14734 Ahg
207g Feb
67% Feb
6514 Mch
J an
Dec
J'no
78*4 Oct
77*2 Aug
Dec
Dec
26% May
Feb
Feb
Moh
Feb
172t2 Feb
Dec
Dec
142
64
8612 Jan
Feb
Aug
94
Dec
50*, Oct
12618 Feb
6434 Feb
J’ne
149*2 Jan
164*2 Aug
Mch
43
Jan
162lg Aug
2578 Dec
63% Deo
36
Apr
62
Apr
82
Sep
50i4 Aug
75l2 Aug
2912 Aug
6478 J’ne
7li2 Dec
162*2 Aug
153i2 Jan
92*2
159*2
116*2
Mch =§ I0t»
97
Afay
Apr
Apr
Feb
15778 Aug
8812 Aug
Feb
22
60
30
May
6634 Aug
120i2 Feb
48i2 Mch
36
Jan
Men
7134 Aug
35i2 Feb
71
Feb
65
Feb
122i2 Jan
44i2 Apr
Dec
21
104
118
89
90
J’ly
Jan
36% Jan
Jly
100
Aug
Aug
Aug
Aug
84i2 Jan
Apr
89
100
88
1371s Jan
10012 Jan
86
200
680
54
90
132i2 Jan
147
Deo
Deo
Dec
Dec
Sep
68I4 Jan
Jly
Sep
_
Apr.
Mch
8314 Dec
105
76i2 Jan
7314 Jan
167*4 Feb
Feb
535
3758 Jan
79i2 Jan
Jan
56
1414 Nov
28
Feb
225s Mch
36i2 Mch
28i2 Mch
1365s Feb
6518 Mch
13i2 Nov
39
Feb
83«s Feb
97
May
88
Apr
Feb
137
11% Mch
36*4 Mch
2634 Nov
48
Sep
7434 Feb
37
Feb
677s Feb
10i2 Feb
Jan
48
118
Jan
Apr
,
101i2 Jan
907g Jan
1455s Jan
11834 Jan
.....
96
7434
78l2
2438
317S
3738
6434
16518
Aug
76i4 Apr
154
Nov
42i4 Feb
84i4 Jan
85% Moh
13314 Feb
76
Mch
Jan
Jan
Jan
Oct
J’ne
Aug
J’ly
M3% Aug
3H«> Dec
5834 Dec
141
Feb
158i2 Mc.h 181
1731s Feb
198lj
Mch
208
Mch $230
148
167
Apr
166l2 Jan §180
7
3i2 Dec
734 Dec
I8I4
.
150
125*8
106*4
14312
12214
827g J’ne
189*8 Oct
70i4 Nov
323i2 Sep
9114 Dee
5778 Feb
Nov
6634 Jan
11878 Jan
Do 1st pref
Do 2d pref
110 Jan
Pennsylvania
13014 Jan
134% 133% 135 282,804
Plttsb
Cin
Chic
&
St
L—
98
3,430
96i2 Jan
98%
98%
Do pref
120
*100
120
x154 Jan
15734 156% 1583s 721.460 O eadlng
1st pref
93
100 Xv
91 Jan
92% *91
2d pref
104
103
104%
2,800
9934 Jan
Rock
Island
42
Company
70.100
41%
4234
385s Jan
Do
pref
6210
81 Jan
5,050
82% 8234
300
72
69% 69%
£69% Jan
Do 2d pref
4,800
53%
51% 52
5114 Jan
29
3,600 St Louis Southwestern...
27*4 Jan
28% *28
Do
pref
72 Jan
73
3,000
72% 72%
Co
Southern
Pacific
125*8 Jan
12938 127% 129% 276,010
30
29
29% 24,400 Southern v tr cfs stmpd.
28*4 Jan
Do pref
do
7,440
65 Jan
6734
67% 67®4
30 Jan
31
8,660
31%
3134
hlrd
Avenue
(i\ Y)
8,400
15%
15% 15%
I4I2 Jan
Toledo
400
Railways & Light
1134 12
IOI4 Jan
12%
Toledo
St
L
&
Western..
44 Jan
45
44
48
2,000
Do pref
900
68
*63
67
65% Jan
113
1,950 Twin City Rapid Transit xlll Jan
112% 113
I83I4 Jan
187% 185% 187% 662,860
Do pref
0,900
9834 9934
98i2 Jan
99%
33
*35
37
Jan
2,100 Unit Rys lnv't of San Fr
37
Do
pref
60
60
5,896
60%
56i2 Jan
20
17,000
Jan
21%
21%
2078
Do pref
4734 48% 40.100
4834
46*4 Jan
5018,500 West Md rects 4th paid.
48% *48
47*8 Jan
825 Wheeling & Lake Erie..
6
§6
6%
514 Jan
Do
1st
pref
10 Jan
11
710
10% 10%
Do
2d
740
pref
8
*5%
634
6% Jan
920 Wisconsin Central
*46
48
47
46i2 Jan
♦100
*108
124% Jan
10414 Jan
137i2 Jan
106 Jan
90 Jan
141U Jan
C Ft S & M tr cfs, pref
82
154
Do 1st
Do 2d
11,880 Denver & Rio Grande
Do pref
2,226
391 Detroit United
45%
136%
rr'
Texas & Pacific
22%
5034
4934
7
47
4
10
80
*88
134% 136%
21
8%
4
*20
45
*75
135
*151
20
48
71
305
85
82
10
♦76
*103
§136
06
59
56%
Rang:/or uevious
Year (19091
Hl'j/iest
150
170
25
46
82
34
57
33
Lwcest
150
*160
57
137
*70
135
64
Range Since January 1.
of 100-share Lots
On bans
157%
*200
83%
*58
*60
137
34
60
371'
67
69
25
62
69
134% 13634
153% 152
15334
*91% 92% *913g 92%
41% 43%
42% 43%
72
72
7134 72
6834 69%
67% 69%
*130
*62
STOCKS
NEW YORK STOCK
EXCHANGE
300 Jan
Jersey
114,775 Chesapeake & Ohio
8014 Jan
4.640 Chicago & Alton Rli
577s Jan
Do
68%
pref
Chic G Wes ctfs dep 3d pd
23% Jan
Do pref “B” ctfs 3d pd.
30 Jan
30 Jan
31%
8,350 Chic Gt West trust ctfs..
61
400
Do pref trust ctfs
5958 Jan
1483s 81,900 Chicago MJlw & St Paul
14514 Jan
Do pref
16o34
3,510
I65I2 Jan
158
6,275 Chicago & North Western $155% Jan
210
Do pref
225
Jan
*20
*43
,
16
*11
38%
143% 14578
133lo
13034 132
133% 13178
98
97
97
97%
97% 98%
120
*110
120
*100
120
*100
162% 154% 159% 156% 158% 154
96191
91
*90%
*90*2 921',
104
100
103
100% 101
101%
44
40%
3934 42
4l7g 4234
85
81
84
84
82
82%
*69
72
71
*69
72
*6978
53
51%
53%
54%
51% 54
30%
28%
28% 29
2734 28%
73
72
727. 73
723d
72%
15%
67
8
110
118
32
223s
50*4
*100
*110
37%
...
30
34
*47
—
32%
38
63g
12%
—
67
32
67
6%
12%
7%
110
42%
84%
*69~8
54%
2834
7234
128% 13034
30
30%
3758
51
50
24
45
63
65
*110% 118
72
56
31
90
*68
*22
*20
45
*68
179% 180
*68
♦295
18,450
94%
73
4134
42%
80
79% 80%
79% 7934
63
*62
§62% 62% §63
67
1434 1434 *1434 16
*1434 16
26% 27
26% 27
26% 2634
285g 2934
28% 29%
29% 29%
46
4778
473g 4778
46% 47
351'
36%
35%
36% 36%
36%
132% 13434 133% 13434 134% 137
71
7134 73%
7334
7234 74%
15% 15%
93
93
*93
*93%
*95
9934 *
9934
*104
*104
*104
12234
69
118
44%
610
41
3834
159%
*91%
437g
8512
80% 80%
171% 173
68
162*8 163%
*91*2 92%
*69
78%
108%
56% 57%
§81% 81%
37«4
110
105
77
*103
221'
118
*58
*104
*92
156
120
5
111'
68%
26%
133% 134*4
98%
*4
*8
38%
—
98
*100
170
*-..
156%
*155*2 157*4
156%
437g 45
44% 45
45% 46%
44% 453s
96
96
95
97*8 97*4
96%
96%
9634
92
92
90
*88
90% *88
136
137% 133% 136% 133% 134% 135% 136%
114
*110
114
*109
11012 110*2 *110% 114
*100
*112
159
210
150
67
22
60
63
♦130
63
64
118
97
165% 166*4
157
*200
*145
*160
3634
25
48
85
717.
147%
16534
60
70
25
*20
*40
*75
115% 116
*93%
145*4 14734
39%
65
47%
610
43
80
Sates ot
the
Week
Shares
11534 116~8 117,700 A tch Topeka & Santa Fe
Do prof
10338 103%
2.640
128% 128%
3,700 Atlantic Coast Line RR__
“30%
*68
*22
145*4 148%
*137% 138
138
25
*590
Jan 28
32%
12%
79
*62
15
26
143% 144
*6212 63*4
27% 273
119*8 120U
*54
•104
*92
210
150
170
84%
60%
69
*58
135% 137
133% 135%
135*4 138
154
150
15234 153% *151
§160
92
92
9134 9134 *91% 92%
45
41% 43
457g
43% 45
73
69% 69%
73% *72
73%
6978 70%
70*4 71*4
6734 70
•130
♦61
"36%
44%
81
66
16
29
8I84
587g
61
69
32%
*590
132% 135%
73% 74%
14812 14834
*75
010
72
310
Ҥr
21
23
138
*68
*o00
853g
60
*60
117
103%
128
11584
94%
73%
178% 179%
31%
553s
69'a
*20*2
47*2
11%
79%
71
"55"
59
23
63
69
*64
5
83%
60
69
14134 142%
20% 21
537g 55%
24% 2434
597b
•601*
167%
159%
210
155
175
72
300
Friday
PAtiKS
Railroads
115%
103%
12612
ll47g
*93%
126% 128%
115% 116%
*93
94%
72% 73%
179
180%
*68
300
83%
*60
Jan 27
4%
4%
10% 10%
77
79%
77% 77%
108% *103% 108% *103% 108% *102% 108%
58
59
60
56
57% 58
667g
81
82
81% 81%
81%
81% 81%
80
81
80
80% 80%
80% 80%
172
176
175
1747g 173 174%
178
*9*2
*77*2
•1435s 145%
22*2 23
*76
32%
59%
146*4 148%
90
58
24
68%
•
70
305
57%
Jan. 26
103% 103%
94%
70% 72%
177% 179
72
Thursday
116% 117%
114% 11534
310
8534
*32*8
11478 11634
103% 10334
125% 126
*93
74%
180%
86%
*___.
25
Wednesday
TWO
75*2 Defi
40*2 Au»
42% Ja*
15*8 Jan
54% Oct
74*1 Jan
II6I4 Dec
219
Aug
1 IS1** Aug
47
i l
Sep
56
Dec
Sep
277s Deo
61*4 J’ne
12% Jan
257s Jan
l5i« Jan
Jan
BANKS AND TRUST COMPANIES—BR >KERS’ QUOTATIONS.
Banks
bid
Ask
New York
Aetna
America 1l__
Amer Exch.
Audubon
Battery Pk.
Bowery
BronxBoroY
Bronx Nat.
600
254
125
375
300
215
Bryant Pk ^ 157i2
Butch & Dr
Century 1J
Chase
140
170
430
182
625
258
135
130
Banks
Chatham
Chelsea Exlj
Chemical
Cltlsens’ Cti
City
Coal & Iron
Bui
Ask
340
350
200
445
160
410
145
350
Colonial U__
Columbia 1J.
220
Commerce
T200
162% Cora Ex H__ 325
150
East River. 125
175
Fidelity U__ 165
465 1 Fifth AvelJ. 430 >
_
_
_
460
165
430
155
380
_
33J
135
175
4500
Banks
Fifth
First
14th StU__.
Bid
Ask
300
350
925
900
155
Fourth
t203
Gallatin
330
Garfield
295
Germ-Am If 140
Germ’n Exif 450
Germania U_ 550
Greenwich 1f 260
Hanover
640
....
...
Imp & Trad t571%
Irving N Ex 205
_
t205
345
300
Banks
JefferaonU..
Liberty
Bid
bib
Lincoln....
Manhattan^ 345"
Mark’t&Ful 260
Mech &Met’s T205
Mercantile
T17l
Merch Exch 160
Ask
Banks
Bid
190
Nassau U
New Neth'd
NewYorkCo
225
200
750
315
225
430
355
265
275
.
465
575
265
665
— —
210
Merchants’. tl84% tl85
410
Metropolis If 390
Metropol ’nil 197%
Mt MorrisU. 250
275
Mutual D
New
York.
N’ht &Dayl
19th Ward.
Northern
__
PaciflcH
Park
People’s U__
Phenix
PlazaU
....
100
230
465
280
1771'
625 '
As*
Banks
bid
Ask
Prod Exch Ti
170
175
Reserve
330
275
420
110
240
T130
Seaboard
Second
....
Sherman
State H
12th Ward.
23d Ward..
Union Exc.
47 0
Wash H’ts i|
295
1871' West Side 11
Yorkvllle 11
_
375
400
135
300
155
140
190
500
500
281
290
♦Bid and asked prices; no sales were made on this day. tEx-nghts. 3Less than 100 shares. IIState banks, a Ex-divldend and
rlgnts. 0 i\ew stoeg.
t Sale at Stook Exchange or at auction this week
h First Installment paid
n Sold at private sale at this price,
y 3d paid.
t 2d paid,
200
275
■
-
New York Stock
288
STOCKS—HIGH AST AND LOWEST
Saturday
Monday
Jan 22
♦245
13
48
83
46
♦102
♦245
48
8434
40
104
437$
123s
79*g
661s
1212
79*8
94
6678
64*4
♦101
♦280
714
231*
WI4
43%
5412
6*4
37
89
94*8
IO9I4
♦250
♦95
04
121
♦121
<H*4
.
99*4
04
*....
*101
62%
107
*250
♦95
♦3212
43*8
$10812
45
2212
122
120
36
3,
♦63
65
34
04
♦158% 164
15% 15%
33
♦32*4 35
4414
42% 43%
108% $108 108
4512
42*4 45
12
23
22%
17
86
G1
146% 150
19% 20%
83
*52
34*4
33%
155l2 155%
*94
100
75
*85
90
*....
♦111
*121
24
*92
25*8
85*4 86»2
SHO 110
112
34%
*--..
1122*8 122*8 122%
♦12514 12512 ♦125%
6%
6%
*6%
*21
22
21%
14
*13*4 14l4
♦54
50
£5%
*49
5012 5012
86%
+85% 87
10678 10712 10534
89
88?8 09
77
77U 7714
115
125
84
61
153% 153%
♦.... 112
♦111
125
25
*120
135
93
101% 10134
49*4 50*4
♦30% 33 ^
32
♦84
34
*40
Jan 26
Jan 27
Jan 28
92
104
*101
35
90
12
37%
90
107g
107
84%
63
14
56
50%
87
107%
39
77
115
122
137
15
15
32*4
39%
327g
42%
106
397g
21
107
86%
39
111
41
H2I4
40
111*4
102
23%
75
45%
64
153
17
33
♦105
103
♦100
8212
82%
36%
78%
*114
34%
8734
10%
90
11
103
80
10%
*_._.
75
28%
28lo
28
29
707g
78%
78%
*80
82
11
30
§130% 130l4
*9
*22
130
*79
*9
*22
46*4 47
112% 112%
*79
81
667a
*20
185"
73
75
*120
126
81%
12%
30
45% 461^
11178 1123g
79% 79%
84% 87
8634 89
123% 12412
5212 53%
54% 5514
*120
130
123
51
5234
124
52
54%
*122
120
20
20
§76% 76%
§182% 182%
72% 73
73
75%
73%
185
73
138
*120
138
Lowest.
75
*....
90
151% 153
*83%
20
153s 15%
54% 55
47% 49
85% 85%
103% 105%
87
77%
*92
80
55
87
77%
23%
123
23%-23%
98
94*4
82%
110
82%
77%
33%
100
76
27
79%
33%
"34%
10%
♦767g
9%
Qn
80
*125
77
132
*8
12
30
45
77%
*22
43
111
74%
19
71*4
43%
"3418
36%
*75
91
9%
10%
70
70
*118% 120%
132
77%
12
31
45
111% 112
78% 79%
83% 84%
121% 123
5134 531o
51% 52%
128
66
♦125
76.
*7
*22
112
29
79
132
76%
12
29
42% 44
11034 111%
78
78%
81% 84%
122
123
51%
50
*120
54
52
124
§65
65
20
20
177
70
68
*123
177
14
30c
144
19%
*82%
*52
32
85
61
32%
-
*83
151%
75
85
152
121
121%
124% 124%
7
*6%
20
20%
13% 13%
56% 56%
49
49%
*86
105
♦88
77*4
110
123
237g
*90
83%
*107
77
77*4
33%
*35
87
106
90
77*4
110
123
24
97
83%
110
80
7814
33%
36
109% 110%
”21” "21%
69%
42%
70%
42%
104
194
y
43
107
120
13,135
1,464
4,225
1,830
66,240
dAnacondaCqpper Par* 2 5
1,500 Llethlehem Steel
700 D
Do pref
2,400 Brooklyn Union Gas....
200 Brunswick Term & Ry Sec
730 Butterick Co
31,300 / central Leather.
Do pref.
1,786
38,234 Colorado t ael ds iron...
10,680 Col ds Hock Coal ds Iron.
1.600 Comstock Tunnei.Por $2
90,825 Consolidated Gas (N Y).
9,796 Com Products Refining..
875
Do pref
Crex Carpet
*7.200 Distillers’ Securities Corp
Federal Mining & Smelt'r
Do pref.............
’"’300
General
Electric
5,879
Granby Cons M S ds P__
4,062 I nt Harvester stk tr ctfs
500 A
Do pref stk tr ctfs
1,000 Int Mer Marine stk tr ctLs
.....
1,400
Do pref
1,400 International Paper
1,100
Do pref
3,300 Internet Steam Pump...
1,150
Do pref
23,425 Laclede Gas (St L) com..
2,000 Mackay Companies.
1,600
Do pref
950 XT atlonal Biscuit
315
Do pref
3,000 Nat Enamel'g ds Stamp'g
600
Do pref
13,935 National Lead
10
Do pref
5,435 New York Air Brake
7,700 North American Co. new
Railway Steel Spring..
72
72
185
71
70
71%
120
73
121
123
107% Jan 25
95% Jan 13
Jan 25
60
118% Jan 25
I2u% Jan 27
135
Jan 25
92% Jan 27
32% Jan 20
99
i-49
.30
62
150
15
32
39
106
36
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
43%
11
30
44
111
6,700
4,431
179
179
70% 71
68%
*110
71
130
Wells Fargo & Co
104
Jan
Jan
7%
71%
44%
107%
42%
Feb
Feb
Feb
Feb
25
25
95% Jan
164% Jan
18% Jan
27
25
27
48*4 Jan
108% Jan
33
50
Jan
Jan
92% Jan
140% Jan 25
160% Jan
23% Jan
86% Jan
18*4 Jan 25
82*4 Jan 25
§60 Jan 6
3l7g Jan 27
83% Jan 19
Jan 25
110% Jan 3
116% Jan 3
150
124
Jan 25
13
Jan 10
123*4 Jan 18
25
19
27
§60
Jan
3
3
3
3
3
3
88
Jan
129
6% Jan 21
Jan
7% Jan
24% Jan.
19'g Jan 19
6
3
6
3
6
5
10
4
5
5
3
3
7
16 Jan
13% Jan 15
x54% Jan 20
61% Jan
47% Jan 25
54% Jan
286% Jan 25
90% Jan 17
103% Jan 25 116% Jan 10
85
Jan 17
91% Jan 5
76% Jan 15
78% Jan 10
115
109% Jan 27
Jan 5
123
Jan
6
22% Jan 21
94*4 Jan 26
80
107
76
76
Jan 25
Jan
Jan
Jan
32% Jan
33
Jan
20
95% Jan
3
Jan
O
25
43% Jan
46% Jan
116% Jan
106% Jan
27*4 Jan
26
?69% Jan 28
85
42
Jan 27
103
Jan 19
188% Jan 12
3
Jan 24
25
27
25
25
25
24
25
20
26
27
25
20
4
Jan
122 Jan
66 Jan
20 Jan
74% Jan
177 Jan
69% Jan
68 Jan
120
Jan
Jan
51% Jan
107% Jan
199*4 Jan
3% Jan
4% Jan
5Ug Jan
107
20
25
19
Jan
45% Jan
104% Jan
86% Jan
118% Jan
40% Jan
89% Jan
13% Jan
73
122
Jan
84
145
Jan
Jan
Jan
113% Jan
32 Jan
28
14
84% Jan
3
27
15
27
25
29% Jan
52% Jan
121% Jan 19
48% Jan 25
50
Jan 17
28% Jan 3
96% Jan 18
89% Jan 4
110% Jan 17
27
25
108% Jan 27
99*4 Jan 25
19% Jan 19
3*4 Jan
40% Jan
104% Jan
36% Jan
125
84
25
25
26
24
25
27
25
27
25
11
84
91
4
4
3
8
5
3
3
5
21
11
6
3
17
3
3
3
11
3
10
10
17
3
4
3
10
io|
4
Jan 14
116% Jan
Jan
Jan
125*8 Jan
60% Jan
57% Jan
129% Jan
73
Jan
§25 Jan
80
Jan
al95 Jan
77 Jan
82% Jan
128% Jan
Nov
Aug
Nov
Nov
3
3
10
3
3
3
6
10
4
*
15
6
4
3
3
6
J’ne
20
47% J’ne
69% Aug
122
Aug
11% J’ne
59
Sep
92% AUg
105% Nov
116% Aug
§285 Nov
105
May
66% Nov
136% Sep
Nov
Jan
Jan
Mch
Mch
84% Feb
115% Nov
Nov
Feb
118
125
Dec
Sep
61% Aug
42% Apr
Feb
Jan
Feb
131
Apr
145% Sep
90% Feb
104
26
40% Aug
107% J’ne
$54% pec
36% Sep
69% Sep
164% Deo
19% Deo
Feb
93% Jan
837*4 Feb
18% Mch
Feb
Jan
47
3
3
4
3
6
3
4
8
3
.v36*4 Jan 10
160% Jan
112% Jan
125% Jan
J’ne
76%
124*4
79%
107%
300
10
77*4 Feb
66
Jan
Jan
Jan
86
Feb
38
80
101
54
34
65
Jan
109% Feb
5% J’ly
225
95
28
2o
15% NOV
Jan
12
29
49
Oct
98
18% Jan
112*4 Jan
122% Jan
141*4 Jan
95% Jan
37*4 Jan
103% Jan
49% Aug
82
34
Aug
Aug
50
103
Feb
6% Feb
Jan
41% Jan
90% Jan
36c. Jan
.....
295 Vulcan Detinnlng
371
Do pref
450
estern Union Teleg..
4,735
11,800 Westingh’seEldsMfg assen
300
Do 1st pref
Jan
12% Jan 27
U S Reduction ds Refining
9
Jan
Do pref
29% Jan
United States Rubber
142% Jan
Do 1st pref
cl 10% Jan
Do 2d pref
78 Jan
United States Steel
81% Jan
111%
78% 78%
1,400
82% 84% 1789830
Do pref
122% 123*4 17,950
52
52% 27,020 dUtah Copper
Par 310
50% 52% 24,300 Virginla-CaroUna Chem..
*112
123
100
Do pref
345 Virginia Iron Coal ds Coke
115
7
27c. Jan 28
Union Bag ds Paper....
70%
71
125
Jan 24
16.610 Republic Irou&Steeilll
Do pref
99 Jan
j
3,130
3,000 Qloss-Sheffield Steel ds Ir
76 Jan
:-108
113
O Do pref....
115
Jan
34% 34*4] 6,700 dTennesseeCopper Par*2 5
33% Jan
*75
90
200 Texas Pacific Land Trust
87*4 Jan
10
10
2,350
8% Jan
*70
75
150
Dopref
69's Jan
119 Jan
305 United Dry Goods Cos
♦118% 120%
Do pref.
111
111*4 111*4
Jan
1,946
28
28
27 Jan
1,620 U S Cast I Pipe ds Foundr
79
79
835
Do pref
76*4 Jan
*126
132
112
125 United States Express
Jan
74
U
S
74 Jan
Realty de Improvem't
75%
1,900
*8
♦22
Jan
98
Jan 2o
88% Jan 21
88*4 Jan 25
2,800] "pacific Mall
100
66
§205
5% Jan 26
Feb
Feb
33% Jan
95% Jan
20% Jan
Jan
33
j250 Nov
I67g Aug
57% Nov
96% NOV
12*4 Feb
38
47% Jan
93*4 Jan
13% Jan
81% Jan
72% Jan
119% Jan
67% Jan
104
Jan
190
20 §320 Jan
25
8% Jan
25
47% Jan
25
26*4 Jan
14%Jan 27
17*4 Jan
38 Jan 25
46% Jan
50
Jan 25
62% Jan
112
.....
2,150 X adflc Telep ds Teleg
14,920 People’s G L ds C (Chic).
300 Philadelphia Co (Pittsb’h)
13,620 Pittsburgh Coal Co
Do pref
7,350
7,050 Pressed Steel Car.......
Do pref
420
2,340 Pullman Company
300 Quicksilver Mining..
Do pref
600
6,300
Jan 25
Jan 15
103
Highest.
Lowest
277% Jan
6% Jan
38% Jan
2u% Jan
Do pref
.....
*175
60
103
American Snuff.
Do pref.
Amer Steel Found (new).
American Sugar Refining
Do pref.
American Teleph A Teleg
American Tobac (new) ,pf
American Woolen.....!.
Do pref..
37*4
100%
77%
74%
180
69%
70%
120
70
119
527s
122
+122
66
180
79
33%
35%
68
42
*103
192
3
35*4
91
97g
*125
77
*8
*22
44
84%
121% 122*4
48% 51
50
122
82*4
1117g 11178 111
§267g 27% *27
77% 7934
77%
79
141
10*
104
*103
192
193*4
191%
3
3%
*2
37g
*3
3*4
3*4
42
45%
40% 451*
107 *10334 107 *103*4
37
38%
36*4 38
101
101
101
100%
76
78%
78%
76%
7J
119
111%
78%
81%
110
35
73
44
•
34%
14
84%
76%
32%
37.
100
78
27%
*76%
27C.
109% 110% 108% 110%
*99% 100 *101% 103
21% 217»
20% 21%
100
77
"33%
"‘5%
32c.
96
♦107
76
84
33
111%
99*4 100%
20
21%
37% 39%
23%
82%
106
41%
14
124
*90
62
30
63
150% 150%
16%
32% 32%
39% 41%
106
3.600
11,400
Jan 27
Cl% Jan 25
116% Jan 18
........
122
*15
75
85
23%
95
84%
+109
"Si"
55
49
*121
61
122*4
74
...
5,000|
Jan 10
Jan 25
lxxxx.
Range lor Previous
year (10091
Highest.
897g Jan 25
10*4 Jan 27
14,200 American Can.
6,920
Do pref
25,lo0 American Car db Foundry
450
Do pref
4,675 American Cotton Oil
Do pref.
65 American Express
800 American Hide d» Leather
Do pref.
5,450
6,670 American Ice Securities..
3,130 American linseed
2,700
Do pref
14,500 American Locomotive...
1,450
Do pref...
;
1,900 American Malt Corn
Do pref
2,250
900 Amer Smelters Sec pref B
158,095 Amer Smeltingd» Refining
99%
136% 137*8
92% 92%
35*4 36%
30
*60
86% 87%
103*4 105%
88
88%
77
77%
109% 110
88
123
121
*120
32%
55
48
77% 77%
110% 112
110
125
37
36
109
14
65
49% 49*4
86% 87%
104% 105%
88
110
1334
*95%
60%
1197g 121%
124% 124%
6%
6%
20
20%
13% 13%
21
21
52
113
109
1Q9
847g
150% 153
119
121%
125
125% *124
7
6%
6*8
6%
40%
*250
61
*....
117% 120
20
89%
94
109
145%
19%
§8278 83
317g
15
6%
36*4
89% 69%
90% 92%
19
33%
7
21%
103
34
...
39%
36
107
*52
107
295
6
36
32*4
41%
30c.
141
83
61
32%
*112
6
17
12%
124
66%
20
Range Since January 1.
On turns oj iuO-share tots
......
61*4
*6*4
39%
21%
♦14%
40%
51*4
*62% 64
♦153% 155
18
83
*52
60%
52*4
*15
32
39
106
36
11%
75%
117
*101
*275
7
39%
22%
15
40
52%
112%
37
65
64
117
31
31
14378 146
19% 20
35
152
70
70
*65
70
§68% 68%
§121% 12 H2 xl20% 120% §119% 119%
112
112
§1117s 111% 111*4 III34
*767g
STOCKS
Newb&°hranoE
pret...
19,300 American Beet Sugar
Do pref
' 800
94
10%
75%
101
50%
41%
13
102
295
...
101
106%
110
37
88
♦90
11%
*95% 99*4
607g 61
120% 122
120% 120%
136
137%
92% 92%
34% 36
41%
41%
22
61
33
85
62
152
*15
33
42%
♦52
32
150
92*4
34%
100%
50%
30%
40%
140% 145%
18*4 19%
82*4 83
*250
9934
61%
122%
122
137%
92*4
34%
100%
527g
31
136
93%
33*s 34
99
100%
49
497a
30% 31
62% 63
150
151%
1247g §125
25*4
22%
98
35%
90
*101
....
60%
120%
§122
110
122%
120
7
21%
„„„
Do
104
*101
37%
1034
103
*250
*95
99*4
84%
*103
110
*108% :.io
90
84
8634 89
8634
7G
80
77% 79%
77%
34
34
3412
32% 34
36%
*8712
11
11*4
*101
*100%
*22% *23% 2078
70
7612 777$
74
71
7134
4614 4678
45%
43
42% 44%
IO4I4 10412 104 104 §104 104
104
197
192
193
197*4 195 190
193%
3
*3
*314
*3
312
3%
3%
4
*3*8
4
*3%
334
4
37g
47
44
47%
45
46% 47
45%
*104
107
*104
107
104% 104% *103*4
3912 40%
38% 3934
36% 38%
37%
♦102
104
*101
35
90
77
74
76
75% 76I0I 76
63
81% 64%
63% 64%
647g
110*4 117 *110 118 §117% 117%
60
62
62
62
60
62%
00
64
1367s 137*4
93% 93%
93
♦54
34
79U
11
'
1211s! 118% 120
*121% 122%
149*4 151
20l2 20l2
♦88
104
40
897g
*250
*95
99*4!
158i2 160
♦14
Friday
........
*101
....
*6«%
I21I3
♦10112 103
507g 51*4
32
62*4
Titursday
S285 285 *270 295 §280 285 *280
714
7%
6”s
7
*6*4
714
*6*4
7
38% 40%
42*4
40% 42
39% 39%
387g
24
23% 231
20*s 23%
21% 22%
21%
15
15
1512
15% 15121
14% 15
14%
42
42
08
41
41
43*8
40*4
3878
55
52*4 54% 50
52%
51% 52
50%
114
112
112 ^ 112
112
112
112l8 112%
6
/
0*4
6% -6%
6%|
5%
6
3/
36
36*
34
35
35
34*4 35
*89
89
89
89U
89%
*88% 89
887g
9512
92*4 94%
88*4 92%
90*4
90*4 93%
1097g 10878 109% 107% 108*4 108% 108% 108*4
13712 1377s
|93
♦33%
12%
78%
66%
120
*117
Wednesday
of
the
Week
Shares
Industrial* Miscellaneous
*245 290 *245 205 *245 295 +245 295
A dams Express
§260 Jan
§270 Jan
12
12% 12%
12% 12*4
13% 13%
1,800 AJL-llis-Chalmers
12 Jan 27
12%
15 Jan
*42
46% 46%
46%
800
Do pref
46% 4C%
45% 47
45% Jan 27
54*4 Jan
77*4 81%
79% 83% *80% 83%
80% 82% 295,500 Amalgamated Copper...
77*4 Jan 25
90*4 Jan
46
43
44
43% 4434 *44
1,900 Amer Agricultural Chem.
44%
44%
43 Jan 27
49 Jan
*101
34
43
94
77%
64%
Sates
[Von.
2
......
104
12
PRICES.
300
42*8
♦112
?
107
300
*101
40
*92
43%
118
Jan 25
*1312 14
4712 4712
81% 8312
45l2 4512
1314
♦117
f
Jan 24
300
♦93
Tuesday
SALK
Record—Concluded—Page
118
17% Dec
237s Jan
25% Mch
37
Feb
Deo
53
21% Feb
91% Dec
21c
37c Oct
Apr
114% Feb
16% Feb
73% Feb
165% Jan
26% J’fie
93% J’ne
Jau
45
Nov
51% Oct
Sep
111
99% Apr
29
May
Deo
63
32% Feb
41% Jan
95% May
150% Feb
172% AUg
110% Dec
118*4 Dec
Mch
Feb
55
80
Men
91
62
jan
109% Jan
5% J'ly
18*4 J’iy
9% Mch
47% Mch
33% Feb
82% Jan
104 J’ne
70
Jan
69%
96%
118%
12%
Jan
Jan
Jan
Feb
Jan
82
71% Feb
102% Apr
Feb
Jan
80
72
29% Feb
45% Nov
101% Jan
99% Dec
10
Apr
40
Feb
30% Feb
96
169
Feb
Jan
.
Mob
32% Mch
97% Feb
16% Feb
67% Feb
68
Feb
107%
$33%
80%
9%
Feb
Oct
Feb
66
115
rl09
Feb
Jan
Oct
Sep
Deo
Oct
128
9
27%
19%
6934
54%
Jan
Jan
Aug
Nov
91
Sep
113% Deo
95% Nov
77% Deo
120 Sep
130 Sep
30% Deo
99% Sep
94
Aug
113*4 Aug
97% NOV
87% J’ne
48% Nov
64
120
103
Oct
AUg
Dec
29% Nov
87% Deo
56
Aug
111% AUg
Aug
200
1% Jan
3
Aug
94
9% J'iy
May
10
54% Aug
109
Aug
49% Sep
110% J’iy
94% Oct
120
Sep
$49 Jan
93% J iy
15% J’ne
81% J’ne
125% Dec
114
Dec
24% Feb
35% J’ne
87% Aug
§111 Dec
87
Sep
17% Jne
39% Aug
Feb
57% Aug
Jan
123% Aug
67% Feb
89% Aug
41% Feb
9478 Oct
70
82
64
10
24
27
98
107
Mfch
Feb
Feb
Mch
Feb
Feb
131
Oct
$39% Feb
40% Feb
$67% NOV
56% Dec
114
57
128
6
45
300
64
74
110
Jau
Feb
Feb
Jan
Jan
Feb
Feb
Mch
Dec
75% Sep
37% Nov
91*4 Nov
670
Dec
85% Nov
Aug
90
146
Sep
BANKS AND TRUST COMPANIES—BANKERS' QUOTATIONS.
Banks
Bid
Brooklyn
Borough T]_
Broadway 1] 375
Brooklyn
First
__
Hillside!!
HomeBk
Homestead^
Manufac’rs’
Mechanics \
Montauk
Nassau
290
no
110
100
415
240
..
....
Nat City...
240
295
Ask
100
425
145
Banks
Brooklyn
People’s
Prosp’ctPk^i
...
Terminal IT
130
125
126
250
150
270
Bid
North Side 1]
.
Union!!____
N Y
160
158
150
_
_
_
190
— ^
—T-
160
105
100
_
90
Trust Co's
N Y City
As tor
Bankers' Tr
B'way Tr__
lrust Co's
Ask
380
690
148
400
710
155
305
Bid
Ask
Bid
Trust Co’s
Guar'ty Tr. 6760
165
Guardian T
Hudson
City
Carnegie
150
Central Tr. 1015
Columbia
320
Commercial 125
Com wealth
150
330
Empire
300
Eqult'ble Tr 500
310
..
Farm Lode'I 1800
Fidelity
200
Fifth Av Tr 410
Fulton
290
...
...
trust Co’s
Bid
NY LlfedeTi T1120
N Y Trust.
Ask
170
175
1558
T300
.
1850
210
425
150
425
740
53J
Metro poLt’n
Morton TT- T575
Mutual
13J
Mut All
130
_
^
550
....
-
-
14U
^
Tr Co of Am T351
Union Trust 1350
1400
US Mtgde Tr 485
500
Unit States. 1250
1265
Van Norden 235
250
360
Washington
370
Westchester 130
Windsor
135
140
*
Bid and asked
prices: no sales on this day.
Jjjrl
1 Sale at Stock Exchange or at auction this "week
__
>
.
rr
-
Tttust”co mpany *certiflca tea
New stock
670
400
t300% 1301
Lincoln Tr.
Manhattan
Mercantile
Ask
c
Ex -dlv
H Banks marked with
mmmm
..
Trust Co’s
Brooklyn
Brooklyn Tr
Citizens’
Flatbush
...
..
Franklin...
Hamilton
Home
Kings Co
._
..
L 1st L ds Tr
Nassau....
People’s
Bid
Ask
435
138
200
215
260
115
500
310
175
450
300
115
80
...
Queens Co.
Wllllamsb 'g
145
225
230
270
125
320*
185
125
100
and rights, d Now quoted dollars
per share,
a paragraph (![) are State banks
,
.
New York Stock
Jan. 11909, the Exchange
BONDS
Price
Friday
Hfi
N. Y. STOCK EXCHANGE
Wkek ENDOW JAN 28
Jan 28
Week's
Bangs or
,*!*'
Last Hale
Bangs
f~
fiq<e January 1
High No Low
100 s< Jan ’10.... 1004
UK) 4 Oct ’09 ...vi
1014Nov'09 ....(|
101 *4
102 Jan '10
1004 Nor’08 ...v*
11441154 115 4 Jan'10 ...J 1164
2 1144
1154 bale 116*4
U54
100S101 *s
100*4
101*4 1024
101*4 1024
B
3
8
8
8
100
101
....
101
_
Since
Ask Low
Bid
l. a*. Hoveramont
2e consol regiatered.dl98l)
2s oonaol coupon....41930
3s registered
3s coupon
*1918
3s eou email bonds..*1918
8 4s registered
1925
8 4s coupon
.-1925
a 8 Pan Can 10410 yr 2s.kl9S0
U
0
0
0
0
(7
U
Eiohange—Bond Record* Friday, Weekly and Yearly
method of quoting bonds was changed, and prices are now alb-**and interest "—except for income and defaulted bonds.
2U senes
.
102
Mar’00
M-S X
004 Sale
1164
1154
F-A
J-J
95 *4 Sale
New York
City—
4% Corporate Stock
1969
4% Co rue rate .-lock ....1958
1967
1917
-
44% Corporate Stock ..1957
44% assessmt bonds.... 1917
4% Corporate stocic....1957
N Y state—Highway 4s.. 1958
So Carolina 4 4s 20-40
1933
renn new settlement 3s.. 1913
Virginia fund debt 2 3s...l99i
944 Sale
954
944
834
a
laoama
954
964
49
954
944 954
034 95
29
834 884
14 1024 104
100'
96
--
i|81H904
074
97
99
24
944 054
ant
0/ $6 to £.
994 434 9941004
994 11 0841004
1084 84 1074 1004
1034060*00
Al-N
M-N
M-N
M-N
M-N
1084 baits
M-8
1034 Jan’10
994
994
1134 J'ne’09
1024 Jan ’09
954Noy,00
92 4 904 Jan’10
60
624 60
1034
954
J-J
*
J-J
J-J
20 108
1084
108
99
••••••
**i
10
110
10341034
994100 4
004 004
49
60
Uailroa-'
AlabaMnli
See so ity
See At Coastldm-
See Dei A Hu«.
Valley See Penn Kb
Alleg A West See Bua K A 1
Ann Arbor 1st g 4s
A1995 4-J
77*4
994
41996 Nov
A1996 Nov
944 Saits
944
94 4 Salt-
944
Stamped
..A1995
Cony 4s issue of 1909... 1955
Cony g 4a...........
1956
10-year oonv g 5s
la 17
Debeuiures 4s SeriesH. 1910
Series K
1913
Cast Ok la Diy 1st g 4s..l928
.
Short Line 1st 4s g
1958
s b e Pres A Ph 1st g 6s. 1942
AU Knox AN SmLAN
Atlantic Coast 1st g 4s.A1962
Ala Mid 1st
BrunsA
Charles A
L A N coll g 4s.........01952
8av F A W 1st gold 0S..1934
1st gold 6s.
1934
811 Bp Oca A G gu g 4s ..1918
Atlantic A Dany See Sooth By
Austin A N W Season Pacific
Halt A Ohio prior 1 g 8 4s. 1925
D
Bale
994 Sale
Begistered...............1995
Adjustment g 4s
Registered
79
A-O
A-O
1995
M-N
J-D
J-D
J-D
F-A
F-A
M-8
J-J
M-8
Pitts Juno 1st gold 0s... 1922
P J nn A M Di v 1st g 8 4sl026
P L E A W Va Sys ref 4sl941
Southw Diy 1st g 3 4s. ..1926
100
92
A-O
J-J
8
154
94*5
16
Jan ’10
774
094 101
100
Jan’10
94*5
100
044 96
02
20
79
02
110 117
1104 Salt,
1174 sale
ll9*4,KoY,0y
944 94*4
M-8
M-N
J-J
J-J
M-N
A-O
A-O
J-J
ii
J-J
M-N
M-N
J-J
M-N
Potts Creek Br 1st 4a.. 1940 J-J
BAA Diy 1st con g 4a.. 1989 J-J
2d consol e 4a
1988 J-J
Warm Spr val lat g6a.. 1041 M-8
Greenbner By lstgu g 4a *40 M-N
Chic A Alt RK ref g 3a...1949 A-O
Railway lat lien34a... 1950 J.j
I960 J-J
Begistered.....
Ohio Burl A Q—Deny D 4a 1022 F-A
Illinois Div 34a
1949 J-J
1949 J-J
1949 J-J
" *
Registered
Ills Diy 4a
Registered.
Ohio A liui o
ti
02 4
90 4 Sale
90 4
90 4 sale
103
111
113
101
112
114
High No Low High
81 I 18 804 81
904Sep»09.... •
1044 J ’ne’08 ....‘j
H6
Noy’06
no Jaq’10 ....'110
no
103 Jan’10.... 103
103*
4
1244
124
4
Sale
12441254
124*9 124 Jan’10.... 124
126
108 4
4 10841084
1084 108
.....
......
• »•••
«>*••••••
09 4
Deo’09
Oct ’09
89
89
......
1004
1014 1014
1084 1084 1054 Jan’10
114 bale 1134
114
112 4 Jan’10
113
1024 sale 1024 1024
105 Apr *00
884 88 Deo’00
112
110
04
00
.—..
4IIIII!
92
77
024 03
90V 904
00 4 004
904^. »04
103 J’ne'00
Oct ’09
113
»»••••
Ohio A Northw cons 7a....1016
Extension 4s
1886-1926
Begistered
General gold 34a
1886-1920 F-A
1987
Begistered.....
.»1087
Sinking fund 6a...l878-1029
Begistered.
1879-1929
Sinking fund 6a...l870-1020
Begistered.
1879-1820
•••'
1064 Feb’07
112 Dec’Oy
1104 112 Nov’09
1104
H04 Mai’04
084
084 Sep ’00
G-F
F-A
Debenture 6a....
M-N
4*F
A-O
20 1024 1034
974
93
77
75;.
73V
784 sale
734
16
12
Oct ’09
76
09 4Jan’10
*994::::::
6*4
884
014 Dec W
loo” 1004 1004 1004 16
105
1084 Oct’00
994100
904 Jan’10
38
0941004 004 100
1014 Mar’00
‘99" mm 99 Jan 10
76
77
734
75
loo*' i‘004
....
102
112
00
102
80
127
113 Jan’10
114 May’00
112 4 Noy*O0
113
IjT’ IIII
ill
Dec’00
100
1004 lOu 4 Noy’00
94
94
Deo'00
064
103
1064 103 Jan ’10
AUU*b
9*4 100 *a 100
99 4 1034 Oct '08
884 89*4 Deo’u9
034 034 034
034
3074....
1084 Oct *00
09
6 864 864
2 127
127
113
113
3 12841284
103
06 100
36
103
1004
034
3.104
103
Nov'uo
10841084 1084 Jan’10
104
1044 Aug’Ob
110
1374J’ly’0O
1OO4Noy’O0
1104....
99
1 1014102
63 984 100
1 1014102
128*,
12841284 1284
904 004
9041004
1104
034
11041104
10841084
....
Noy’00
Oot ’00
100
100 4 Oot ’00
100
Noy’00
1084
1084 Deo’00
1004...... 1004 Jan *10
1054106 lo54Nov’u0
113
1144 1L3 Jan '10
101
1UI Jan’10
i004J’iyoj
89
00
804
*0%
934 Apr’Ob
luO
107
1084 107
llT* IIIIII
110
A-O
A-O
A-O
......
......
1900 M-N
1U»4
)•••«
••••■
1004 1004
113” il3”
094101
89** *804
Jan’10
1114
1114 1U4AOY*U0
100*4 Nov’oy
1004 100 4Dec’00
1004 J’ne’O0
*111*4
109
lOO4May’O0
1909 M-N
1074 107 4 Sep’09
1921 A-O 106
1001.
1U3 J’ne’o7
Begistered
.....1021 A-O
10041114 110 Deo'00
Sinking
iund
deb
6a
1033
M-N
Bklyn A Mon tank see Loug 1
110
109 J ly 'Ob
1033 M-N
Registered......^
Bruns A West See Atl Coast L
004-...
101 Apr’00
North Illinois 1st 6a....1910 M-S
Bufialo N Y A Brie See Brie
MILL S A West lat g0a 1821 M-S 1104
1164 Jan’10
Buffalo BAP gen g 6s...1937 M-8 1134 1164 1164 Dec 09
Ext A imp a fund g 6a 1020 F -A 1114...... II14 Dec’Oj?
100 4 109 4
109
1004 Jan’10
Consol 44s
1957 M-N 107
122
142 4 Feb *02
Ashland Div 1st g 0a..1926 M-8
094
094 094
094
994
AU A .
West 1st g 4s
gn..l998 A-O
*.
4
0
1
123 4 Apr’00
Mich Div 1
1st g 6a......1024 J
113%....
103
J’ly’08
Cl A Mah 1st gu g 6s....1943 J-J
101
1034 May’00
Incomes
.......1011 M-N
116 4 Dec’09
Booh A Pitts 1st g 0s...1921 F-A 1104118
11141134
Ohio
Bock
lsl
A
Pao
lll4Jan’10
6a...1017 J
1194 1204 Aug’09
Consol 1st g 0s
192*2 J-0 116
1114
113 s, Aug’uy
Begistered
1917 J
884 814Nov’O0
Buff A Susq 1st ref g 4a.dl051 J-J
984 bale
General gold 4s
084
08*4 29
1988 J-J
BurUBAN
See 0B1AP
084
08
Jan’10
3 1044 105
Begistered
1988 J-J
1044 Hale 1044 105
umbo let ext 0s
1913 J-J
i u
914
sale
0O4 * 014 200
4 >10141014
Refunding g 4s
1984 A-O
-2d 6s
10141014 1014 ioi4
1913 M-8
07
904 loo
J’ly’04
Coll trust SenesH 4s ..l8iuM-N
100 41014 1004 May’07
M-8
Begistered.
1913
974
07
J’ne’09
J 4s
1012 M-N
Carb A Shawn See XU Cent
044
M
*s
Jan’10
1016
M-N
044
Carolina Cent See Seab Air L
04
Deo’uy
034
N 4s
1916 M-N
Carthage A Ad See N Y C A H
024
O 4s
034Aug*oy
1917 M-N
Ced B fa F A N see BC BAN
914
03 4 Aug’uy
P 4S
1918 M-N
Oen Branca By See Mo Pao
704 Sale
Ohio RIA Pao BB 4S..2002 M-N
794
804634
Cent of (ia EH 1st g 6a..pl945 F-A 113
1164 Feb’09
80 J’ly’00
Registered
2002 M N
Consol gold 6s
..1946 M-N 1084 100 4 1084
1084 12 1084109
trust
10241024
CoU
1024
1024
gold 6a......1013 M-S
113
Begistered
Apr’00'....
....1945 M-N
Bur Ced R A Northern88
87 4 884 87 4
1 87
87 4'
Ulpret income g 6s....pl945 OOt
III
Con
lat
A
col tr g 6S...1934 A
1144 1144 1144
88
88
874 89
88
88
10
Stamped
l204Mar’03
Registered...........1034 A
2u prei income g 6s
79
844
81
81
82
100 bl
pl945 Got
CBIFANW lstgu 68.1921 A-O 100
111 - Noy’05
2d pi ef income g 5s stamped
79
81
83*4 Jan’10....| 834 834
M A St L 1st gu g 7a..1927 J -D
3a pret income g 6a....pl945 Oct
70
82
80 41
2 804 82
804
100
08
93
994100
884 8*4
89
88
93
1134 Feb’06
944 Nov’08
Sale
224
924
004
11241124
'••a
974
08
09
Sale
084
10141024 102
85*4 854
126 4 128*9 127
J-J
1014 3014
105
1054
8 1134 1144
M»y’O0
Jan *00
074
964 98
82
98*4
M-N
A-O
M-N
M-N
J-J
10041004
......
M-8
M-8
1904
1004
004..
10141014 102
...
024 bale
124
1030 M-N
1992 M-8
Begistered
1992 M-8
Big bandy 1st 4s
1944 J-D
Craig Valley 1st g 6a.... 1940 J-J 107
Begistered...,.
1937
By lat 58.1936
1154
U8
11641224 Chicago A Erie See Erie
110
U34 475 110 1224 Chic In A Louiar ref 0S...1947 J-e
994
Refunding gold 5a
1047 J-J
994Sep*09
Louis V N A A Ch 1st 08.1910 j.j
984
384 Deo *09
Ohio Ind A Sou 50-yr 4S..1956 J-J
904 974 37 sep ’00
bi P term g 6s 1014 J-J
044 944
944 4t 94 4 944 Clue Mil
109
General g 4a aeries A..«1980 J - J
1104 Oct ’09
Begistered.
<1080 Q-J
95
General g 3 4s senes B.el930 J-J
Sale
944
954 26 934 96
107
109
Sep’09
1984 J-J
25-yr deben4a
04
Ohio A L bu Diy g 6a....1821 J-J
96*4 J'06*00
Chi© A Mo Riv Diy 6S...1920 J - J
1324
93
Chic A Pao Diy 6s
Sale
1010 J-J
914
93 171 914 954
Chi© A P W 1stg6a
1254
127 J’ne’09
1921 J-J
112
D*k
A
Gt
So
114
H24J’ly’O0
g 6a........1010 J • J
Far A Souaaau g 0a
974100
37*4 J’ne’06
1924 J-J
Hast A D Diy Ist7s.....l910 J-J
lat6a
1010 J-J
92
LaCroese A D lat 5s....l919 J-J
924 36 91
924 91
924
Mineral
Point Diy 6s. ...1910 J-J
904
91*4 Oct ’00
So Minn Div lat6a......1910 J-J
100
Sale
09
1004 176 9841004
Wis
A
Minn
Diy g 6a....1021 J-J
08
984
99*4
904
994
108
Mil A No 1st M L 0a....1010 J-D
Oot *01
120
lat oonaol 0s
1918 J-D
* 884..:;:.
884 Noy’00
J
*1026
8
Oen Ohio B 1st og44s.. 1930
01 Lor A W con 1st g 6s 1033 A-O
F-A
Mouon Kiv 1st gu g 6s.. 1919
Ohio Blyer BB 1st g 6s.l930 J-D
General gold 6e
1937 A-O
Pitts Cley A Toi 1st g 08 19*22 A-O
Pitts A West 1st g 4s...1917 J^J
8tat lei By 1st gu g_4 4s 1943 J-D
Begistered
79
1004
102
124 4
«
Q-F
.....
1084
100
since
January 1
o ■
_
Ask Low
82
804
106
100
100
101
Bange
!i?
fiqo
Last sale
884 82
M-N
-
Registered........../11025
...*1948
Begistered
*1048 4-J
Bold 4s...
Leh A Wilks B Cool 5S..1912
Con oxt guar 44a....pl910
N Y A Long Br gen g 4a 1941
Cent Paolffo Nee So Paolfio Co
OentYermont lat gu 04e.el02O
ChasASay see Atl Coast Line
Clies A Ohio gold 0a
al011
Gen funding A impt 58.1029
1st oonaol g da
1930
Joint bonds See Great North
Debenture 6a
1913
General 4a
1958
Han A St J oa oonaol 6a..l811
Ohio A E IUref A imp g 4a 1955
lat oonaol g 0s
.1834
General oonaol 1st 5a.... 1937
Auegneuy
Atoh TAB Fe—Gen g 4s.
ti
Iowa Diy sink fund 6a.. 1910 A-O
Sinking fund 4a
1910 A-O
Nebraska Extension 4a. 1027 M-N
Begistered.
..1927 M-N
Southwestern Diy 4a....1921 M-8
Cent
Albany A Susa
M-N
gen’l gold 6a. 1987 J-J
41987
Begistered
Cent of N J
General gold 4 4*
994 Sals
994
99
1004 984
1084 Sale 107*4
M.N
M-N
3s deferred Brown Bros otts.
•
J-D
J-J
J-J
J^J
Chatt Diy pur mon g 4s. 1951
Mao A Nor Diy lit g 5a. 1940
Mid Oa A AU Diy &....1047
Mobile Diy lat g 5a.....l046
Con BB A Bof Oa eoi g 5a 1037
Week'8
Bange or
Bid
79
Imp gu 6a.. 1921
Le A Hud Bgengngfis 1920 J-J
59
n
,
I
'*j
Price
triday
Jan 28
..
...........
964
964
i 834 Sale
884
8tenlng loan 4s
1931 J-J
Saits
1034
1034
itepubol Cuba 5s exten debt.. Al-S 11034
904 97
96*4
964
San Paulo (Brazili trust 6s 1911* J-J
98
99
984
984
U S oi Mexico s I it 5s Ol 1890
96% 96
964
964
Mold 4s Ol 1904
l»64
XT hese are pr icee on the b
State and City Securities
110 Nov’08
that ot Columbia 3'05s....lU24 F-A
96
105 4 Dec *04
Louisiana new consol 4a..1914 J-J
New 44a
New 4 4s
\A
Am Dook A
1925
44s
.
High Cent of Ga R1W Con)
3d prof income g 6a stamped
1004
Kot-i-ign (Jo»mim«U
Argentine—Interned 6 s of 1909
impeiiHi Japauese Uoverpm'1
sterling loan 4 4«
1925
BONDS
N. Y. STOCK EXCHANGE
Week Ending Jan 28
Begistered
Noy’04
Debenture 6a
Beech Creek see NY c A H
Belley A Car See lliluois Cem
r
11641164
...
...
11141114
984 00
9*04 ‘*0*2*
044
794 834
....
AllbCE1 ,LANEOi)a»
BONOS—Continued
Street
Street liailway
Brooklyn Rap Tr
g
6a
1046 A-O
1st refund oonv g 4a. ...200* J-J
1st con 6a.1916.1941 J-J
BkQ Co A Soon gu g 6a.l941 M-N
gkClty
Bklyn Un El 1st g 4-68.1950 F-A
Stamped guar 4-58....1950 F-A
Kings Co El 1st g 4s....1940 F-A
Stamped guar 4a
1940 F-A
Nassau Eleo gu g 4a ....1961
Conn RyALlstAref g44a*51
Stamped guar 4 4a
1061
Det United lat con g 448.1032
Havana Elec oonaol g 6a. 1962
Inter-Met ooll 44s
1956
Inter Rap T 3-yr oonv 6s. 1011
J45.year 6s Series A.;...1052
j.j
J-J
J-J
j.j
F-A
A-O
M-N
M-N
nternat Trao ooll tr 4s..1049 J’J
lanlla Elec 1st A coll 6s. 1053 •M-8
•No prioe Friday; latest this week.
10441044
1044 Jan’10
303
82 4 87
82 4
85
834 Halt
103
1034
103 4 Jan’10
103
105
90*% Mar’09
34 1014103
1024 Sale 1014 103
103
Dec’09
844 85
‘*824*80 * 86 Jan ’10
84 4 854
844 Jan’10
834 84
81
82
81
Jan’10
794 82
l024Nov'ui*
102*4
1014 Dec ’00
1014
83 4 Oct ’09
82
83
*3 *03** ’*03**
93
044 93 804
824 1205 80 4 834
814 Sale
13
103
104
103 4 Hale
1034 103 V
1034 Sale 1034 1034 10 103 1034
1044106
....
......
on
Hallway
ool tr g 68.1997
Met St By gen
Bef g 4s
Col A 0th Av lstgu g 6s. 1003
Lex Av A P F lstgu g 6s 1903
Third Ave RB eon gu 4s 2000
Cent Tr Co eortfa stmpd...
Third Ave By lat g 6a.. 1937
N Orl By A Lt gen 44a ..1035
St Jos ByLtH A P lat g 6a *37
St Paul City Cab eon g 6s. 1937
.
44a.
**y*»«i» •••••••••*•
Income 0a............,
1] Flat. «Due Jan
«•••
d Due Apr
May pDne J’ne
1014103
100
90
67
J-J
J-J
J-J
Sale
874
87
M-N
J-J
A-O
M-N
100
1074 HO
074 99
101
......
-
•
964
67
kDue Aug
’
344
*
824 Sale
71
87
98
1144114 4
734
oDoe Oct
3
>
41
99
98
824
72
54
OL
54
102
102
01
20 004 99
094
69
56 07
674 145 064 084
108
108
10
108
1
87
87
87
....
Nov’08
J’ly’0«
Apr’09
-
•
oct
*08
824
724
pDueNov
••
*•••
•
844
334 Jan ’10
84-
784 784
98
1074 Deo’09
844
84
....
J-J
A-O
hDue J’ly
984
Jan *11
10l4
1014 Jan’10
64
101
06 4
664 Sale
107
1084 103
Mta
A-O
—
e Due
624
M-S
M-S
J-J
784
784
F-A
2002 A-O
BwayA 7th Av 1st 0 g 5s 1943 J-D
Sep’oy
M»y’O0
1024 1024
Next Page.
......
70
88
044
• •
•
2
•
•••
-
•• •
V
4
844 854
334 834
»«M*a
82 4
72
a Option
824
74
Sale
New York Bond
BONDS
Price
N. Y. STOCK EXCHANGE
Week Ending Jan 28
Ohio Boot i &
Bin
Pao—(Von)
Choc Ok & G Ken g 5s .01919
Consol gold 5a
1952
Keokdb DesM 1st 6s....1928
Chic St L & N O See 111 Cent
Ohio St Jum& Pitts See Penn Co
Ohio St P M & O oon 68...1930
Cons 6s reduced to 3 *28.1930
Ch St P & Minn 1st g 6s 1918
Nor Wisconsin 1st 6s...1930
St P & S City 1st g 6s...1919
Chic<& West Ind gen g 6sql932
Consol 50-year 4s
1952
Chic <to W Mich see Pere Marq
ChocO& Gull See CU1&P
Cin H & D 2d gold 4*8S...1937
CiuD db 1 1st gu g 5s. ..1941
C Find & Ft W 1st gu 4s g.*23
Cin i ds W 1st gu g 48.1953
Ind Deo & W 1st g 6s...1935
1st guar gold 6s
1935
01 bt L db C see C O C & St L
OinSdbC See C C C St L
Ciearheld & Mali See B B & P
Olev Cm C & St L gen g 4s 1993
Cairo Div 1st gold 4s....1939
Oin W db M Div 1st g 4s.1991
8t L Div 1st ool tr g 4s.. 1990
Registered
1990
J-J
Q-¥
Registered
;
J-J
ioi
M-N
M-N
J-J
•*107*a
Cm b & Cl con 1st g 6s. .1928
0 C C & 1 consol 7s
.1914
Consoi sink fund7s....1014
General consol gold 6s. 1934
Erie—(Con)
Mov’09
2,1263* 127*4
1267e
87
107*a Jan *10
87*3
105*8
95
93*3
......
95
94*4
94*s Aug’09
94»s Jan TO
94
Jan’10
95*3
95
....
104*3....
98 *3
99
98*4
....
108
109
87*4
..
95
105
95
96*3
94*u
94«s
94
94
Out *07
96
Deo’09
98
Sep *06
103 7b Dec 09
92*4 Jen *10
Aug'wV
109*8 *ep *09
10) *4 Deo’09
98*4
98*4
98
....
....
126
87
2 106
87*4 Jan *10
91
*
93
125*3 125
Nov’09
ind Bl db W 1st pret 48.1940
O Ind db W 1st pi 5s...(<1938
Peo & East 1st oon 4s...1940
income 4s....
1990
Ulev <fc Marietta See Penn Bit
Olev db Pitts See Penn Co
Col Midland 1st g 4s......1947
Coioradj db Sou 1st g 4s...1929
fieiund & ext 4His ......1935
Ft W & Den C 1st g 6s.. 1921
Coium do Greenv see So By
Col do Mock Val See Hook Y&i
Ool dfe Toi See Hook Val
Col Conn db Term See N db W
Conn do Pas Bivs 1st g 4a. 1943
Cuba BB 1st 60-yr 5 g.... 1952
94
J’ly’08
93
66
96a4
98
80*«
97
Sale
113** Sait
E Minn NorDivist
93*4
93*4
21 92*3
65
94
65
9,
67
80*s
80
9634
973*
112«fc
22
26
195
97
98
65
80
96*8
97*3
MontC
813^
97
98
Jan *09
Del Back db WesternMorris do Essex 1st 7s...1914 M-N lll^llSS 111
111*8
1st consol guar 7s
111
114*8
1916 J-D 114*3
Registered
1916 J-D
127
J’ne’06
1st rei gu g 3 *as
94
2000 J-D
Sep *09
N Y Back dbW 1st 6S...1921 J-J
116*5 120 11778-Nov’09
Construction 5s
1923 F-A 109*8 110*3 109 78 Deo '09
Term db improve 4s.... 1923 M-N
09*4....
99*4 Dec’09
Warren 1st rei gu g 3 *88.2000 F-A
102 *8 Feb’03
Del dO Hud 1st Pa Div 7S.1917 id-S
118
120*8 120*8 120*8
Registered
1917 M-S
149
Aug’01
Sale*
J-D
10-yr conv deb 4s
1916
993® l0034
1st lien equip g 4 *as .... 1922 J-J 101
102 7a 102*3 Jan TO
1st dbret 4s
9«34 100
1943 M-N
99*8 100
97
98
▲lb dO Sus conv 3 *38
97
98*3
1946 A-O
Bens do Saratoga 1st 7a. 1921 M-N
12634
128 Nov’09
Del Biv BB Bridge See Pa BB
Denv do B Gr 1st oon g 48.1930 J-J
96*a 97
96*4 Jan TO
Consol gold 4 *88
104*3
1930 J-J
10334 Jan TO
Iu6
102 *a
Improvement gold 5s... 1928 J-D
102 *3
93 7« bale
1st <fc reiunding 5s
1956 F-A
94
95*4
Bio Gr Juno 1st gu g 5s. 1939 J-D
98
Feb *08
Bio gr So 1st gold 4s... .1940 J-J
80
78
Dec *09
Guaranteed
85
194o J-J
Mar’08
RioGr West 1st g 4S....1939 J-J
93
0*4** 93*4
94*4
84
84
Mge and coi trust 4sA.1949 A-O
84
Utah Cent istgug 4s ai9l7 A-O
97
Jan *02
Des Moi do Ft D see M do at u
DesMoi Uu By 1st g 5s..1917 Al-N
Det do Mack 1st Hen g 48.1995 J-D *95**
97*6 Jan’10
90
Gold 4S
92
1996 J-D
91
91
Detroit Southern—
71
Ohio Sou Div 1st g 4s...1941 M-S
74
73 Jan TO
Dai do iron Range 1st 5s..1937 A-O
112
111
Jan TO
Registered
1937 A-O
100 *3 MaToo
6s
2d
1910 J-J
Dal Short Lane See Mar Pao
Dai So shore do Ati g os..i037 J-J
110
Got *09
L'astoi Minn seest P Al db Ai
Xliast Ten Va & Ga See So B
Elgin J ol do East 1st g 5s. 194 M-N 113
T13
Dec *09
ElniCortdoMo NesLehdbN 1'
Erie 1st ext gold 4s
1947 M-N
101
Nov’09
2d ext gold 6s
1919 M-S 19038
106*4 Oct ’09
3d ext gold 4 *as
1923 M-S 1023b ...... 104*4 .wv’Ob
4th exi gold 5s
....1920 A-O 106*3
106 *4 Jan TO
6th ext gold 4a
1928 J-D
99*4
97
Jan 09
1st consoi gold 7s
1920 M-S
122*a 122*3 Jan TO
1st consoi g land 7s
1920 M-S
120*4 124 Aug’oa
Erie 1st con g 4s prior..1990 J-J
85
86
85
85a4
Registered
1990 J-J
84
81
Mov’OU
1st consoi gen lien g 4s..1996 J-J
75*4 bale
75*4
76 I
Registered
1990 J-J
bd^Feb’O?
Penn coil tr g 4s........ 1951 F-A
80*e Sale
86*3
86*4
60-year conv 4 -. A
1953'A-o
78=« sale
78*a
79 I
do
series B...1953! A-O
72
71
71*3
Bun M 1 dt Erie 1st 7s..l9i0 J -D 113*»
116*8 Aug’09 .
Chic dO Erie 1st gold 5s.. 1982 M-N 114
115
114
114 I
Olev dO -datum Vai g 5s.l938' J-J
110*4
121
Dec’08.
Long Dock consoi g Os..1935 A-O 120 128 126*4 Deo’oO
CoaiJO RR 1st cur gu 68.1922 M-N
113
114 J’ne’09
Dock do imp 1st cur 6S..1913* J
102
103 »u Oct *09
I
*99*3
111
114
111*4
114*8
120*8 12o »6
■ii
99*8 i02*"'
101*8 103
993s 100 *3
16 97
100*8
3ol
-
,
91
72
...111
73
,
Reldbimpt6sApr 1950
Kentucky Cent
iotT*i
122
122*5
30, 85
87*3
30, 76*4
70*8
.
.
14
36
52
86 *8
78*a
71
2 114
60*4
82
73*5
114
.
.
Gas and Electric
Bkiyn U Gas 1st
con g
os.l04a d-N
Buttalo Gas 1st g 6s
104, A-O
Columbus Gas 1st g 6s....1932 J-J
Detroit city uas g Oa
192^ ««-a
Det Gus Co con 1st g 0s...l91e f-A
EqG LA X 1st oon g 5s..1032
EleoBergCoc g5s.l94i>
Gasdb
J-D
Gr Rap G L Co 1st g 6s...l91o F-A
Hudson Co Gas 1st g os.. 1049 ■d-N
Kan City (Mol Gas 1st g 6s 1922 A-O
Kings Co Ei L <to P g os... 103 < A-O
Purcuaae money 6s
x99. A-O
Ed Ei L Ban 1st oon g 4s 103t J - J
Lftc Gas Loi St, L 1st g 6s.«1019 *-F
Rei ana ext 1st g os
1934 A-O
Milwaukee Gas L 1st 4s.. 102, d-N
Newaik Con Gas g ds
194; J-D
Leroy db Caney Val
*
No price
Friday; latest bid
on
101
97
101*4
66*3
105*3 107*3
00
101
103*8
.....
107
41
LU7
06*3 Jan *10
64
Jan TO
101
Oi
05^sep ’06
66*3
101
06
Mar’Oe
01 *3 Got *01
100
Oct *09
103*4 Jan *10
100
May’00
Sep *09
117 *3 Aug’09
dd
sep ’oa
1.03*3
103 s,
(63*4 103*4
103*3 104
I007el**2
91 *4 dale
100
108*b
iuO*s Jan’10
91*3
01*4
and asked this week,
a
L02*4 100
100*3 loo *v
91*3 02
Apr’05'.
J’ne’081.
80
80
97
9678 Sale
00*8
96=8
00*3
97
09
80
3
J’ly’09
86
*•••
......
•••see
97*8 364
96*3
5
06*3
96*4
97*8
967s
ioe
128*^ Jan TO'.... 1283b 128-\
132
Apr *09
1073a io73b
107**4 107*38
10834 J’ne’oy
1007a I0i»a 101*8 101*8 10 101 101*8
97a4
08*fe
99 I 1* 9b
99
99*4
99**
113
129
....
113
129
047s 947a Jan ’IQ
07
102*3 Jan’10
95
95
10534 Jaa’10
'107^8 Ap: *07
1; 02
Sep *09
OOHtMay’OO
SO
J’ly’09
100*3 Sale TOO*s
100*3!
loo *8
98’e
1*9
90‘s1 9s78
09*4
100
97
loO
09*3
88®&
123
79*3
79
02
2 lUU*a
J’ne’oo
09*a
Jan TO
May’07
Apr ’09
21
087*
1UO
...
s8*sJanT0
......
95
10534 1o534
02
02
04
9478
102*4
1,1 y6
0y*4 Feo’oy
Sale
105
102
..
100*3 Sep *u8
Sale
00
105*4
92
947a
«S*3
.ixb>’09
100*4
99*a
100
83 *3
Apr ’obi..
79*4 Dcc’o8!....it
79 1
St, *4
80*3 Deo’uU1
10il«OCt *99;....
SUJ4 100 Nov’OOL...'!
97*4 100 | 96 Nov’09
Feb ’09!
117*3
.121
95*3
96I'guci)
*8 Get ’U0!
uu;.
117 *4 Jan TO
117*4
117*4 117*4
116
118
118*4
,*4 J’ne’uoy.
I ll-t. *11*1
Get ’09
Mar’os
90I
95
100
08
7»
J’ly’os
06
98
Jan
110
110 *4 110*3 Jan
10/
TO/
Jan
lu/ *4108*a 1075e
Dec
40
lu6 »a 100 ^ iOO
Jan
75
sate
74*3
73 *a Sale
73**
63
TO
TO
TO
....
98
109*3
iU0a4
13 10o*4
...
’09
To
75
106
74*3
100*4
76*3
73®fc 153, 72<fe
73°b
...
10
Oct *uu
102*3 102*4 102 *3
102*4
21 102 *s 103
111
+107
113
112=8 Jan *10
107
110*3 ill
lid
-3
112=8 112=8
.
Niov’oy
Jan TO
110
112
li
108*8 Sale
J•J
J
•
J
M-N
A-O
108**
Aug’oy
7 lU8*s 10fc*s
96*3 Jan TO
115*8 116*3 115*8
..!| 96*3
iloq,
2
109 *3 Get ’09
A-O
J-J
M-S
108»s
T07
00*31
*
107*4
04
95
*
2| 96
06V.....
M-S
H
i|
*
Nov’oy
10S
I 05
95
97
116*8115*8
05
113 '8 Jan ’06
101*4 aep '09
A-O
102
A-O
100*3
J-D
102*3 Sale
F-A
M-S
84*3 Sale
see Mo P
Light
Purchase money g 4s...1049
Ed El 111 1st conv g os..1910
1st consoi gold 5s
1005
N YdbljEl LdbP 1st con g 5sl03O
NY <to Rich Gas 1st g 58.1021
9at db Pas G db E con g 5s. 1949
Peo Gas db C 1st oon g 6s. 1045
1047
Reiunding gold 5s
ChG-LdbCke Istgug 5s 1031
Con G Coot Oh lstgug5a.’3t»
Ind Nat Gas db Oil 30-yr 6s *36
ALU Fuel Gas 1st gu g 6s. 194\
Syracuse Lighting 1st g 6s.’6i
.
104 *3
116
By
NYGELHdbPg 5S...1948
107*4
Sale
95
Next i'age.
Gas and Electric
107*4 107
100
see So
L bho db Mich S See N Y Cent
Leh Val N k 1st gu g 4 *aa. 1940
Kegiatereu
.1940
Lehigh Vai (Pa) oons g 48.2003
Len V Ter By 1st gu g 5a. 1941
1941
Registered
Leh V Coal Co Istgug os. 1933
Leh db N k 1st guar g 4s..1945
Registered
1945
El C db JN 1st pt 6s
1914
Gold guar 6a
1914
LehJbHuciB NeaGeutotNJ
Leh db Wiikesb see cent oi JN J
102
107
66
80
05
North Ohio 1st gu g 5a.. 1945 A-O
Light
6s...1947 J-D
114
102*4
A-O
Lake
Erie os
db W 1st g 6s.. 1941
1937
2d gold
MISCELLANEOUS UONDS—Continued
Atlanta G L Co 1st g
.
107
AaeCRidbP
Knoxville & Ohio
100*4
101
)01
2 10034 101*8
1105 *a Nov’09
1114
Oct’09..
11238 113*4 115 Deo’09.
101
100*4 Dec *09
93
J-J
J
....
110
see L da N
KeokdbDesMo
......
....
105
108
J-J
—
111'
93
......
intdb Great Nor 1st g 6s.. 1919 M-N
2d gold 5s
..1909 M-S
Trust Co oertfs
1
3d goiU 4a
.........1921 M-S
Iowa Central 1st gold 6s.. 1938 J-D
Gold 4s
1951 M-S
LaiAdbGR AeaLbdaMS
iVau da Mich see Toi & G C
KCFtbdbM See St L db S F
KGdbMKdbB See 8t Ldb S F
Kan C db Pacific See M K db T
Kan City Sou 1st gold 3s..i960 A-O
Registereu
I9601 A-O
—
91
J-J
J*J
J-D
1951 J-J
1951! •» • J
g 3*38...1951
100*4 Dec’06 ....'j
93
Jan TO ...J 90
114*3Dec’08
9b*s 100 *4 Oct *06
100 , 99»4 Jan’ll)
114
113
Jan TO
l277e 130 |129 Jan TO
136*4 Alay’Od
113
114*4 113 *3 Oct ’up
113*8
116 J’ne’09
Western Lines 1st g 4s..1961 F-A
Believ da Car 1st 6s
1923 J-D
Carb <& Shaw 1st g 4s... 1932 M- S
Chiost L& N G g 6S...1951 J-D
Registered
1951 i J-D
Gold 3*33
1951 J *D
Memph Div 1st g 4s...1951 J -D
St L Sou 1st gu g 4s....1931 M-S
Ind Bi da West see C C U da St L
ind Ill db la 1st g 4s
1950 J - J
94*4
84
97 7e
101
1951! J - J
Spring Div 1st
102*s 10a34
93*4 94*3
97*8
10034
....1999i J - J
Registered
96*4
103*4 10334
83*3
!
‘9434
Vallstoonsolg4*38.1999 J-J
Registered
Gold 3*ss
95*3
93*«
90
126*3
Coi«fe H V 1st ext g 4s.. 1948 A-O
Col db Toi 1st ex 4s
1955 F-A
Houst E <fc W Tex see So Pac
Hoimt & Tex Cen See So Pac Co
I llinois Central 1st
g 4s..1951 J-J
1 Registered
.....1961 J-J
lstgoiu 3*38
1951 J-J
Registered
19511 J-J
Extended 1st g 3*38
1951 A-O
1st gold 3s sterlmg......l951 M-S
Coll Trust gold 4s
1962 A-o
Registered.
1962 A-O
1st rei 4s
1966 M-N
L N G db Tex gold 4s ...1963 M-N
Registered
1953 M-N
Cairo Bridge gold 4a....I960 J *D
liOUtsvDivdbTerm g3 *38.1953' J - J
Middle Divreg5a
1921 F-A
Omaha. Div 1st g 3s
1961 F-A
St Louis Divds term
g 3a. 1951 J - J
See
Since
January 1
M-N
Istgug 6s....1937 J-J
Registered
Range
S^'
or
Higtx\Ro Low ’ Utah
103 *3 Jan 10.... 103*5 103*3
104
Jan TO
104
104*3
M-Nj 110*4 114
Han
& St J oseeH
See CIN
B &Hdfc
<4 H
ousatonic
113*8 13' 112^114
Hook
96
104*8 107
4sl948 A-O
Registered.
1937
1st guar gold 6s
1937
Will & S F 1st gold6s 1938
Greenbrier By See Ches <& G
Gulf da 811st rei
t g 5s 01962
Range
Ask Low
102*s
Minn Union 1st g 6s..1922 J-J
Dak do dOGtWaco
So SddCMdOStP
M K dO T
fttlaa
g
Last Sale
1 Jiia
.
Registered
1933 J-J
Reduced to gold 4 *331933 J - J
Registered
1933 J-J
Dakota ext gold 0s
1910 M-N
Mont ext 1st gold 4S..1937! J -D
Registered
1937 J-D
1934
Week's
J-J
* -A
F-A
Evdblnd 1st con gu g 6s.. 1926 J-J
Erie db Pitta See Penn Co
Evans db T H 1st cons 08.1921! J - J
1st general gold 5s
1942 A-O
Mt Vernon 1st
gold 6e..l923 A-O
Sail Co Branch 1st
g 6s. 1930 A-O
L'argo db So See Ch M db St P
L lint & Pere M
See Pere Mar
Fla C db Penm See Sea Air
Line
Fort St U D Co 1st
g 4*38.1941 J-J
Ft W db Rio Gr 1st
4s...
1928 J - J
g
*al Har db S A See So
Pac Co
*al H A H of 18821st Ss.1913 A-O
Georgia db Ala N'e« Sea A Line
Ga Cor & Mor
See sea A Lane
Georgia Pacific See So By
Gila V 04 Nor See So Pao Co
Gouv db Oswegat SeeN Y Cent
Grand Rap & Ind NdePenu RR
Gray’s Pt Term See St L S W
Gt Mor—C B&
coll tr4s 1921 J-J
Registered. A
1921 Q-J
St Paul M <fe Man
4a....1933 J-J
1st consol gold 6s
1933 J-J
107*3 107
105
105
107 *3 Dec'02
95 s*
94
92a4
LXXXX.
'
Price
Friday
Jan 28
M-N
RR '
MidRRo/NJ
IstgGs.'lOlO A-O
Wiikdb Ea Istgug5s. 1942 J-D
12*6*^ 126*4*
Oct *00
113
|
£ Green L gu g 5s.l946
MY Sus db W 1st rei 6s. 1937
2d geld 4*38
1937
General gold 5s
1940
Terminal 1st gold 6s...1943
Regia $5,000 each...1943
...
J. J
Registered .........F1930
106
....
J-J
A-0
High
* ?
93
Ded’03
90*a...
126
"i!
126*4
126
PJb^May’oy
114*s 114 *3 1143e Dec ’09
110*3 110*3 Deo’09 ,...f
92^4 Sals
•2*4
923( 14
J-D
0 1 St L & O consol 6s.. 1920
1st gold 4s
j...fcl930
JVo Low
102
1267gl27*s 1267e
M-N
g 4s..1940
W W Val Div 1st g4s...1940
*45 January 1
High
Aug’08
11034 lllSAug’09
106
102»4
J-D
Since
[VOL.
2
TS
BONDS
N. Y. STOCK EXCHANGE
Week Ending Jan 28
Range
Ask Low
102
M-N
A-O
Spr db Col Div 1st
.
WeekU •
Range or
Last Sale
Friday
Jan 28
Record—Continued—Page
1
290
Trenton G <to El 1st g
5s..1941
100 *4 SUM
108
J-J
r
F-A
101 s,
d-N
100
M-S
95 *e......
A-O 119
M-S
103*4 104
104
J-J
104=8
J-D
101*3 103
00
U-N
101
J
99
d-b
M-S
90*3
Union Elec LdbP 1stg6s. 1032
Utica El Ldb P istsig 58.1050 J-J
Westchester Light’g g os. 195c J-D
Due Jan 6 Due Feb dDueAnr 4 Due May
ADuej’ly
......
90
k Due Aug
mm
102
v
102 *3
63 *3
102*4
100*4
lOOS,
16 102*3 103*4
63 *4
17
64 *3
84=4
2
100
110
111)
i
101*4
ij;i*»
TO
119
ilO
Jau’lu
U'i*4
(01*4
100*4
104*4 .Sov’Oo
Jan To
T9
lo.>*4 Dec’ui,
0,4*4 -Jan TO
iUis Jan 10
_
.
.
.
iw4*4 1o4‘4
101*3 102
...
04*3 Aug’o.'
i.01
Deo'o
99*4 Nov’Oi,
.vlay’Ou
.10
90-
Jan'Ob
.02 *3 Mai *09
•t
q
Due Deo
...
•
••••
•••»*(••
....
s
Option Sale
~\
Jan. 29
New York Bond
191#.]
Record—Continued—Page
291
3
■«
.
N. Y. STOCK EXCfHANQE
Week Ending Jaw 28
Long Dock
o
Price
St
Friday
Jan 28
Bta
ASk Low
112 4
102
«7
97
10041004 1004
90
97
994
See Erie
112*3
Long Ial’d—1st con g 5a.A1931 Q.J
1st consol gold 4a
M931
n
gold 4a..........1938
Ferry gold 44s..........1922'M-S
General
....
1982'J-D
1949,M-S
Gold 4a.
Uuified gold 4a
Debenture gold 5a
Guar ref gold 4s...
934
1934’J-D
1949 M-S
M-S
984
100 4
*
Bklyn A Mont 1st g 6s..1911
1911 M-S
lBt5a
6a 1935
1927
NorShBl8tconggu5aol932 Q.J
Louisiana A Ark 1st g 5s. 1927 M-S
95
9S4
1004
^"2
684
J/J
103
109
99
Nov’OU
Nov’09
Dec ’09
120
108
107
1164 117
76
115
2d
....
71
May’09
944
94 4
J’ly 06
1104 Nov-09
1104 Sep ’09
12541254
94 4
1
97
944
974
,1054105 4
KaAAGRlatgn058.1938
1
Apr’05
994 »a
994
974
31
25 4
80
80
_
974
974 984
99
994
964 974
274 31
Jan’10
Apr *u9
J ’Jy *09
Feb’08
1094
108
.
132
132 4 J’ne’09
118
Jan’07
102
1014 May’09
107
Dec’09
82*3 814
«14
•
•••
....
• •••
....
2
4
91*4
£84 91
914
994100
994 100
984 Jan’10
4
814
814
914
914
994100
......
....
....
(1104
Pao R of Mo latex g4s.l938
2d extended gold 5s... 1938
StLIrMASgenooug5sl931
(1014
M-S
F-A
M-S
M-N
|l04Sj 1 eb 07
1024 Jan 10
814 804
91
964
954 Nov’OS
102
M S ;954
16
96 4 229
95
bale
944 944
....
944
944
F -A
86
88 4 Oct 09
J-D
Mar’05
HO
J-J
F-A *^004..... 1004 !004
116 Sep*09
J-J
A-O 109 4 ii>9 ‘»;109 4 109 t
A-0, 10941104 111 Sep ’09
J - J.
1024102 4
804 814
95
944
9o*e
944
Gen con stamp gtdg 5s 1931
Unified A ref gold 4s..1929
Riv A G Div lat g 4a.. 1933 M-N,
Verdi V
Mob J A K
Mob A Ohio
1st extension golu os../il927 Q89
90
Generai gold 4s
....1938 M-S
112
Montgom Div 1st g 6a..1947 F-A 111
St L A Cairo coll g 4a..el 930 Q-F
91
Guaranteed g 4s
96
1931 J-J
MAO coll 4s See Southern
Mohawk A Mai Seen Y C A U
Monongahela Riv See B AO
Mont Cent See St P M A M
Morgan’s La A T See S P Co
Morns A Essex See Dei LAW
Task Chat A St L lat 7a.l913 J-J
111
lat consol gold 6s
1928 A-o 1094111
SeeH YN H A H1
1 1004 1904
♦Nopnoe Friday; latest bid
97
93
F-A
F-A
SO
J-J
J-D
J-D
M-S
M-N
J-J
J-J
101
107
*85
904
964
814
43
100
102
Nov’O*
Mar*04
97
4Apr’09
79
79
794
804
844
100
Dec’09
Oct ’02l
91
964 Oct ’0*
108
1124 108 Oct’09
100
984
bep ’08
994.
105
124
130 4 1814 Jan ’09
109 4
109
109
105 4 105
Jan ’08
6
108*8 1094
.11
1054 1064
1014 102 4 1014 Jan’10
92
904 Dec’09
914
1024 Dee’09
914
92
904
904
944
954
94 4
94 4
914
904 Sale
944 Sale
94 4 bale
1124
113
102
109
100
Get’07
101
Feb 09
Oct ’09
J ue’96
99
Deo’09
J’ne 08
1114-.—.
1124
115
1114
984
A-0
914
119
99
99
98
90
100
15
TO
21
33
914 924
904
944
904
954
954
944
1
Deo’09 ....It
1304 Jan ’09 ....]!
127
121
Bat C A Star 1st gug 3 s.1989! J-D
N Y Chic A St List g 4s 19371 A-O
10141014
J’ne’09
J’ne’09
Feb’08
92
115
125
161
974
1929
92
004
94*4
804
794 Jan’io
784 Deo’09
784
J-J
A-O
91
90
92
Hi-—
1,99
894uan’10
92
Tan’10
100 4100
100
99
894
924
884
914
1004
Deo’09
21, 9941004
J-J
904 914 904
1014
1014
914
192
J-J
100
100
1004
3
904 914
22 1004 102
10 100
1004
J-J
J-J
M-N
1344 Sale
1344
1004 bale
1144
100*a
1344 144 1334 1344
1014 214 1004 1014
3 116
116
116
M-S
974 Sale
...1937 A-O
1931 M-N
bale
116,
107
M-N
-
ol992 M-S
1014
12
974
964
Oct’09
Oct’09
(1264 Nov’Ob
101
125
1244
124
124
Aug’09
964
974
1014 J’ne’UU
4128
125
Jan’io
1124
99 41 984
«9 4
984 97 J’ly’09
924 Sale
924
924
984
984
994
6
203
101
89 4 18
924
93
1024
894
'1014
734
72
98
102
101
74
73 4
I
7L
96
99
89
104*» 104\
...
....
95
96
II
101
73
124
60
1004 bale
994
894 bale
894 <
1064 1044 Jan’10
954 964! 95 Jan’10
1014 bale
124
...
Nov’09
Deo’09
■
41 10141024
30 100 4 101
14 72*4 74
100
g 6a....1923 F-A 1174 1194 118 Deo’09
Il9
119
Out’09
Registered certittc’a..l923 Q-F
117 4 J’ly’07
St Paul A Dul lat 6a.
1931 F-A 112 4
103
2d 5s
4
104 4 Sep '09
1917 A-O |
98 4 98
Oct *09
1st oonaoi gold 4s
1968 J-Dj
844 854
87
874
102 41024
120 41214
»9
1124 Oct ’09
?5
May’08
101
Nov’04
89
2
89
89
Wash Cent lat g4a
1948
Nor Pac Ter Co lat gtfa..l933
Nor Ry cai see So Pao
Nor W18 See C St P M A O
Nor A Mont See N Y Cent
Q-M1
92
J-J
ill
Pao of
Coast
Co 1st gSee5s....1946
Missouri
Mo Pao J-D
108
1
92 4 Jan’uu
113
Deo’09
103
1084
OindAW See C C C A St L
ino Riv RR See Balt A O
Ore A Cai See So Pao Co
Ore Short Line see Un Pao
Oswego A Rome
See NYC
bale
3 108
ao
1104
111
1 10841104
1104
Dec’09
A-O
J-D
974
934Deo’oi>
82 4
80
954100
......
J-J
......
98
•
*
994 Nov’09
94
Deo’09
97 Jan’10
100
F-A
J-J
J-D
F-A
Vlotor Fuel 1st s 16s.
1958 J-J
Valron Coal AColst g 5s.1949 M-S
794
JHgl*
34
Penn RR 1st real eel g 48.1923 M-N
Ceuaol gold 5s
..1919jM-S
Couaol gold 48
1943 M-N
Convertible g 34s.
1912 M-N
Convertible g 3 4s
1915! J -D
Consol gold 4s
1948 M N
Alleg Vai gen gu g 4s...19421 M-S
DR RRA tigelstgu4Sg.’36 F-A
Phils Bai A W 1st g 4s.. 1943 M-N
Sod Bay A So 1st g 6s... 1924 J - J
U N J RR A Can gen 4s.l944lM- S
on
Deo’09
*104
1034
Iu94 Jan ’09
109 4
10U*i
1084
I*
......
IO04 bale
96 4 bale
1044 dttlt
1024
103 Nov’09
1004 lol
96
96
1044
10441
J’ue’oV'
99
98 100's 1014
4,610
96
964
16 1044 1044
96
JLU34 Deo’09
100
103
102
■
Jan ’03
1034 Dec’09
Next Page
Telegraph and Telephone
F-A
J-J
J-J
J-J
814 Bale
No Low
St P A N P gen
26
8
....
Butt A Suaq Iron • 15s. ...1932 J-D
Debenture 5s
.a 1926 M-S
A.-0
J-J
gold3s....<*2047 Q-F
Registered
<*2047! Q*F
St Paui-Dui Div g 4a....1996 J-D
Dul Short L 1st gu 5s.. 1916 M-S
C B A <4 coll tr 4s Sea Gt Nor
3 1094110
‘
J-J
J J
F-A
M-N
914
904 Jan’io
964
954
81
814
79 Jan 10
95 4 Sale
88
A118CELL INTfiOUS BONDS—Continued
'
A-O
J-D
A-0
N Y A Put See N Y C A H
N Y A R B See Long Island
N Y S A W See Erie
N Y Tex AM See So Pao Co
Nor A South 1st g 5a
1941 M-N
Norf A West gen g 6s.....1931 M-N
improvem’t A ext g 6s..19-34! F-A
New River 1st g 6s
1932 A-0
N A W Ry 1st con g 4S.1996 A-O
Registered
1996 A-O
Div’i lstlAgeng4a...l944 J-J
10-25 year conv 4s.... 1932 J-D
Pocak C A C Joint4s.. 1941 J-D
C C A T 1st gu g 5s
1922 J-J
Scio VANE lstgu g4s 1989 M-N
North Illinois See Chi A N W
North Ohio See L Erie AW
|
Nor Pac—Prior lien g 4s..19971Q J
Registered
1997 Q* J
Coal and Iron
Co* idiico gen s I
g 5a.. 1946
Convertible deb g 5a....1911
ColIndulatA coll 5a gu..l934
Contin’tai O lataf gu6s g.1952
Biv
V30*1 *01«*l6a.. 1919
Jeff A dear C A I latg 5a. 1920
Kan A H C A C lat a f g5&193l
Pooah Con Collier 1st s f 5s.'57
Sunday CreeK. Co g 5s
1944
Tenn Coal gen 6a
1951
Tenn Div 1st g 6s
<*1917
Birm Div 1st consol 6s..1917
Cah C M Co 1st gu g 6s. 1922
De Bar O A 1 Co gu g 6s. 1910
A-0
General lien
Jasper Branch 1st g6a.. 1923 J-J' 115 4
1164 May’07
McM M W A Ai 1st 6s.. 1917 J-J 108 4
H74Mar’05
TAP Branch 1st6a....1917,J-J
1084
113
J’ly’04
Nash Flor A Shef See LAN I
f
Nat Rys ol Mexpr 14 4a 1957 J.J
944 8ale i 944
95 337
Guar gen 4s
1977 A-O
904 sale I 39
904
3
NatofMexpnorlien448.1926 J-J 10$
102 Aug’09
1st consol 4s
83 4 83 4 82 4
1951 A-O
824
New HAD
M-N
A-O
High.
91
Range
Since
■SiQ January 1
or
Last Sale
914 Sale
1952;M-N
Regia*6,000 only
‘
N!
F-A
2-sl
S-s!
Week?*
Range
A8k Low
J-J
1951IM-S
West Shore 1st4s gu...2361
Registered
2361
N Y A Greenw Lake See Erie
N Y A Har See N Y C A Hud
NY Lack AW See DLAW
N Y L E A W See Erie
N IA Long Br See Cent of N J
N Y N H A H—Conv 6s..1948
Conv deben 34a
1956
Hoosatomc R con g 5s..1937
N H A Derby con oy 58.1918
N Y A North See N Y C A H
N Y O A W ref latg 4s..ol992
,
.
A-0
J-D
J-D
M-S
1940
J L A 8 1st g 34s
1st g 34a
20-year deb 4s
• e
984
M SS M A A lat g 4 int gn 1926, J-J
984 984
Minn Un See St P M AM
‘.“I
994 23 994100
994 Sale
Mo Kan A Tex lat g 4s...1990 J-D
994
4
88 *s 874
864 874 864' 87
2d gold 4a
pi990 FA
105
104
6 104
105
lat ext gold 5a
1944 M-N 1034184
84
84
84
10
184
lat A refund 4a
854
2004 M-S
90
90
Sale
19
Gen a f 44e
894
..1936 J-J
,
894 904
86
88
Apr’09
St L Div lat ref g 4e....2001 A-0,
..l1
106 Cot *06
Dai A Wa lat gu g 68...1940 M-N 104
92
92 4 934 Jan ’10 ...J' 92
KanC A Pao lat g 4a...1990 If-A1
*934
_
Mo K A K lat gu g 5a...1942 A-0.*109
113
113
'113 Jan
M K A Ok let gu 5s.....1942 M-N 1084 1064>106 4 Jan ’ 10
10641064
M K A Tot T lat gu g6a.l942 M-S ...... 10o
1 105
105
4,105
....11
SherSh A bo 1stgugSa.1943 J-D, 102
107
3 10541054
Tex A Okialstgug5s...l943 M-S ...... 105 4 1054
110
Mo Pacific 1st con g 6s ...1920 M-N 110
110
28 109
......T10
1014
0 10141024
Trust gold 6a stamped.al917 M-S 1014102
ol917
1920
40-year gold loan 4s
1945
8d 7a extd at 4%
1938
lat A ref conv 5s full pd. 1959
Cent Br By lat gu g 48.1919
Ceu Branch U P1st g 4s. 1948
Leroy AC VA List g 5a 1926
Registered
Debentures 4s
130
1997
1928
1931
J-J
J-J
J-J
Mahon 0*1 RR 1st 5s..1934
Pitta A L Erie 2d g 5a.<*1928 A-O
Pitts McK A Y lat gu 6s.1932 J * J
2d guar6s
1934 J-J
MsKeea A B V lat g 6s 1918| J-J
Mloh Cent lat consol 6a.1909 M-S
6a
1931|M-8
1931 Q-M
Registered
4s
1940 J-J
....
Registered
Lgu SeeB C R ANl
M8tPASSMoong4intgu'38 J-J
Registered
Debenture g 4s
25-year g 4s
1004 May’09
Hex North 1st gold 6s....1910
Mich Cent See N Y Cent
Mid of N J See Erie
MilLSAW See Ohio A N W
Mil A North &«ChMAStP
Minn A St L let gold 7a..l927 J-D
Paoific Ex lat gold 6a...l921 A-0
South Weat Ex latg 7a.l910 J-D
lat oonaoi gold 5a
1934 M-N
let and refund gold 4s..1949 M-S
Des M A Ft D lat gn 4a...’35, J-J
1st coil gold 5s
Registered
914 92
111
111
974
974
.1977,M-S
110
Nov’U9
94
30
30
iio
2
914 Jan’io
111
Jan *10
113
108
Cart A Ad lat gu g 4s... 1981
Gouv A Os we 1st gu g 5a 1942
Moll A Mai 1st gu g 4s..1991
N J June R gn 1st 4S...19S6
N Y A Harlem g 34a...2000
N Y A North lat g 5a...1927
N Y A Pa 1st con gug 4s 1993
Nor A Mont 1st gu g 5s. 1916
Pine Creek reg guar 6a.1932
R W A O con l8text5s.A1922
Oswe A R 2d gu g 5s...el915
R W A O T R lat gu
g 5s.1918
Rutland 1st con g 44s.. 1941
OgALCfcam lstgu 4s gl948
Rnt-Canad 1st gug 48.1949
St Law A Adir 1st g 5a. 1996
2d gold 6a....
1996
Utica A Blk Riv gug 4a. 1922
Lake Shore gold 34a....1997
Dec’09
116
974 974
28
1
110
Jan ’09
97
97
105 4 Jan’10
994 Sale
lat cons
2d cons mo g 3s trust recta..'
Ilex Internat 1st con g 4s. 1977 M-S
1998 F-A
Registered
May’07
104
See N Y Cent |
cons g 4s
1911 J-J
inog 3a
<*1939 J'ly
98
994 1004
Jan’09
....
974 974
McK’pt A B V
944
Creek 1st gug 4s. 1936
Registered
1936
2d gn gold5a
1936
Beech Cr Ext latg 3 4s 61951
::::
Rid.
Rivg34s.l997 J-J
1997 J-J
1934 M-N
Lake Shore coll g 34s...1998 F-A
Registered
1998 F-A
Mich Cent coll g«4s....l998 F-A
.III
Jan ’10
110
93
I
94
Price
Friday
Jan 28
Registered
Deben g 4a
*
May’09
100
h
STY Cent A H
97*4
2
©
oo
to
N J Juno R R See N Y Cent
N Y Bkln A Man Bch See L I
|
1004 Deo’09 ....1
1104
Ry consol 4a. 1990 A-0
Registered
1990 A-O
Stmpd tax exempt.. 1990 A-0
Minn A St
—-I
97
116
1144 Deo’09
99 4
994
1054
914 92
Manhattan
Stamped guaranteed...
984
99
AACk
SeeO
I A
L
tANahon
Jett
Bdge
4a..1945
M-S
Co gng
Coal
L S
M ft
Ilex Cent
94 4 Jan’10
1044 Dec’08
98
93
944 944
107
LA N-South M Joint48.1952 J-J
N Fla A S lat gn g 6a... 1937 F-A
NAC Bdge gen gug44s 1945 J-J
Pena A Atl lat gu g 6a.. 19211 J- A
SAN Ala con gu g 6a..1936 F-A
A
Apr’09
Oct ’06
...
114*4
High
*
N. Y. STOCK EXCHANGE
Week Ending Jan 28
Dec *09
1113b112 4 1114 Oct ’09
106
1064 1074 J’ne'09
1244
125 4 Jan’10
118
102
Low
1
!
109
110
LANAMAMlstg44sl945 M-S
See
No
•**
Beech
114
116
99 4 Sale
1940 J ■ J
i
BONDS
Range
Ig’gil Since
sq Janvxiry l
Dec ’09
1014Deo’08
1104Not’06
106
Apr’07
116*4
Sink fund gold 6s
1910.
Coll trust gold 5s
1931 M-N
EH* Nash lat g 6a....1919 J-D
LCiu A Lex gold 4*38. ..19311 M*N
NOAM 1st gold 6s....1930, J-J
N O A M 2d gold 6a
1930 J-J
PensacolaDiv gold6a...l920 M-®
St L Div lat gold 6a
1921 M S
2d gold 3s
1980 M-S
Atl Knox A Cin div 4s.. 1955 M-N
Atl Knox A Nor lat g 5sl940 J *£>
Sender Bdge lata fg 6s. 1931 M-S
Kentucky Cent gold 4s.. 1987
99
102*t
Louis? A N ash v gen g 6s. 1930 J-D
Gold 6s
1937 M-N
Unified gold 4s
1940 J-J
Registered
94
100
106
103
A-O
M-S
N YB&MB 1st con g
N Y A K B lat g 5a
M
Week?*
Range er
Last Sale
.
BONDS
Am
....
97
120
80
824
1054 Dee’06
974
88
Sep ’09
674 73 Feb *07
1044 Sale 1044 1044
......
-
r
Vv•
-»*t
......
......
......
......
....
64
107
107
107
110
1074
100
99
and asked.
•
87
87
994
994
aDueJ&n
107
107
Jan ’09
Jan 10
Aug’09
99 4
b Due Feb
Mich State
L936 M-S
Telep lat 5a.. 1924
Y Telep 1 at A gen a f 44s. 39
Puc Tel A Tel ist os
1937
West Union col tr cur 6a. 1938
FU aud real eat g 4 4s...1950
Conv 4s, Series A
1936
Haiuilnciiirtng Ai Indus trial
Allis-Chalmers lat 5s.....1936
Am Ag Chem 1st 0 5s
1928
N
82
1074 Dec’04
1024 Apr’OO
107
May’97
Telep A Tel coll tr 4s 1929 J-J
Convertible 4s..
98
3 1034 1044
107
2 107
6 107
....
15
e
LOO
99
107
100
994
Am Cot Oil ext
44s
1915'
F-A
M-N
J-J
J*J
M-N
M-N
J-J
A-0
r*
Am Hide A L 1st st g6s..1919
Amer Ice Secur deb g6s.. 1926 A-0
Am Spirits Mfg 1st g 6s.. 1915 M-S
Am Thread 1st 001 tr 4S..1919 J-J
Am Tobacco 40-yr g 6s. ...1944
4 a.
1951
Due .Mar d Due
Apr Ti.Due J'ly fcDue Aug
o
914 924
924
924
3
924
93
1014
103 4 792 10141054
99
9b
99 Jan’io
93
984
98*, 72 98
984 bale
99
Sale
984
994 48 U84 1004
99 4 1004
«
1004 994 100
964 »64 964 • 964 S4 964 974
10i*4 118 1014 lu24
1024 bale 102
102
Sale
99
824
824 bale
1024 «ai «* 1014
964 97 4 97
10141014 1014
73 4
Sale
73
96
924
1664 bale
77
Due Oct
Sale
n
72
96
93
1064
764
834
1024
974
1014
82
84
344
84 10141U24
96 4
1
11 1014 102
72
Jan ’10
96
Nov’09
106»«
77
3
96
143 106
186)
Due Nov q Due Deo
764
1 Flat,
724
964
*074
784'
Now York Bond
29%
Record—Concluded—Page
[Von.
4
lxxxx.
•b
BON DS
ft
T. STOCK EXOHANGS
Wrick
Friday
Jan 28
Kvdinh Jan 28
Penn Co—Goar 1st g 4%s.l92l J-J
Sid
104
90%
97%
89%
......
Low
105
6
90% 91%
97% 97%
..
90
Jan '09
J’ly’09
Aug’09
May’08
106
A-O
106%
M-N
A-O
A-O
M-N
M-N
F-A
109
107% sale
107% 109
107%
107%
*93% *94%
107% 107%
107
107%
Aug’09
1920 A-O
1939 M-N
112
Dec '09
90% 100
104
112% sale
..109%
108%
100% Deo'05
105
Aug’09
112% lri%
105 Dec'09
107 Deo'09
91%
91% Dec *09
5
111% 112%
SagTns A H 1stgug 48.1931 F-A
See Penn BK
Pitts
Pitts
Pitts
Pitts
Cleve & Toi See B & O
Ft W A Ch See Penn Co
McKees A Y See NY Cen
Sh A L K 1st g 5s...1940 A-O
1st ooasol gold 5s
1943 J • J
Pitts A West See B A O
I
|J ending Co gen g 4s
1997 J-J
1997 J-J
CVRegistered....
*79%*80%
89
Mem Div 1stg4%-5s...1996 J-J: 108%
St Louis div 1st g 4s....1951J-J
86
86%
Ala Cen R 1st gBsu
1918 J-J 108%
AU A Danv 1stg4s
91%
1948 J-J
83% 85
2/14a ........
1948 J-J
Atl A Yad 1st g gnar 48.1949 A-O
Col* Greenv 1st6s.....1916 J• Ji 1*04% III"
E T Va A Ga Div g 5s..1930 J-J
111%
Oon 1st gold 5s
1956 M-N 112 113%
E Ten reor lien
g 5s
1938 M-8 106%
Ga Midland 1st 3s.
65
...1946 A-O
GaPao By 1stg6s
1922 J-J| 113%
A Ohio 1st g 6s...1925 J- J j 114%
aiobABirpnoriieng6sl945J-J 106
8L%
Mortgage gold 4a.
1945 J-J I
Btoh A Dan eon g 6s
1915 J-J 106 107
Deb 5sstamped........1927 A-O 106% Sale
75
Blob A Meek lstg 4s...1948 M-N
So Car A Ga 1st g 6s....1919 M-N 103% 103%
Virginia Mid ser C 6s. ..1916 M-S 107%.
108%.
104
99%Sale
| 99%
99%
Spokaneinternat 1stg 5s 1965 J-J
f
I'er A of St L> 1st g 4%s..l939 A-O
jjag Tns A H See Pere Mara
OtJoAGr isl 1stg 4s...1947 J-J
St L & Cairo See Mob A Ohio
98
Sale
94
37
96% Jan '10
102
Oct '09
94
121% 124% 122%
122%
108% 112
108% Deo’09
90
93
90
88% Sale
88%
38%
100% Aug’09
100%
83% Sale j 83%
64
Il7%li7%'117% Jkfi’10
80% Sait
80%
62
102%
100% Dec*0&
97
98
Dec *09
97
94
1 122%
2
94
122%
90
91%
87% 89
84
......
.
93
93%
80%
78
Salt
95%
93
84
78
Jan*10
Deo’t>9
78%
95
83% 85
117% 117%
80% 82%
**i*8
....
93
93%
62
78
79%
101% Apr’07
88%
87%
104
87%
86
99%
34
87% 88%
Oot ’09
99%
100
104
103%
]09% Mar’06
104
105
Deo'09
106
107% J’ne’09
Sale
104
93
Sale
102%
97%
Sale
Sale
96
97
*
88% 89%
92% Sale
100
105
108
103%
104%
33
92%
93% Aug’09
101%
97
J-J
85
87
91% 91%
40 104
66
104
91% 95
911 97
96% Sep ’09
89%
89
92%
93%
101% Apr’09
111% Apr’09
104% Sep ’09
May’09
105%Jan’l0
105 %
109% 110% 110 Jan ’10
109% 110
IU9 %Nov’09
94
sale
94
94
116
118
116
Dec’06
104
107% Jan 09
J-J
86
99% 99%
103%
loayiaii
iui%ib*6%
»7%
J-J
AO
70
100
11
76
1
97%
89
94
92%
93%
"
..*«*!_
1
III J
105
105%
109%110
94
94%
116% 1*2*6* 122% Aug’08
112
116
l
Fe
Mi
100% De
104% J’ne’08
114% Dee’04
116
May’07
104
104
Apr’08
See Mo P
Virginia Mid £m South Ry
Nov’06
80
89%
80% Sale
91
86
......
siue
101%
Noj Low
’Hill
93% 94%
94%
107%
96
91
High
••••*•
....
•
•••
109
May’09
79%
80%
89%
89%
107%
110
110 Jan’10
86% Jan ’10
108
sep *08
...e 107% 111%
79% 81%
u? 89%
90
110
92% Oct *09
92
J’a
110
86% 87
•
•••
••••••
••••••
•••••
••••••
• •••
109
110
113
107
66
113
J’ne’09
110
114%
Apr’09
113
114
Nov’09 ....!
Dec’09 ...J
114% Jan’10
15% Apr’06
82
Kov’OS
107% Not’09
106% 106%
75
Oct ’08
103% Jan’10
112
1 i*io*‘ no’*
Oct’06
•••■! iii% 114%
••••••
3
XU,
• ••«••
• • •
•••
106 % 106%
••••I i*03% *1*03%
108% Deo 06
107% Deo’09
107% Jan ’10
107
Deo’09
96% Jan’07
106
HI
Jan’10
83
103
Nov’09
•
•••
i*o*7% i’0‘7%
....
1
6
1
::i
89%
80%
106
86
101%
109%
«9%
60%
96%
116%
113
93%
94
106
107% 107%
114% 114%
97
97%
111
112
i67%ii6%
90%
90%
io. **a*y’* **8*9%
111 80% 81
Jan *10 ...J 90
90
1
Jan’10
106
106■
*”*!
Oct ’09
101%
208
100% 102
113
1802
102
109% 116%
97
98%
Nov’Utf
97 %
97
106
1
Sep ’09
97 % 14' 96% 98%
6 116% 117
H6%
113%
94%
Jan ’09
6 113
113%
93% 94%
I
107% Deo’09
98%
mmwmmm
....
102
109% Sale
97% Sale
Since
90 J’ly *09
102% Jan ’10
102% 102%
102
Nov’09
181 94% 96
94%
94
90
105%
lol%
Range
January 1
106% Nov’04 ...j
108% 109% 107% Jan’10 ...j
108
112
112
Sep ’09
102
Deo’09
101
90% 93
90% Jan ’lo .....
02% 93% 92% Deo ’09
J-J
Nov’08
98
96
Oct ’09
I HI1
|
Va & Southw’t 1st gu Ss.2003 J-J
1st cons 50-year 6s
1968 A-O
Debenture series B
1939
1st lien equip s fdg 5s..1921
1st lien 50 yrg term 48.1954
1st ref and ext g 4s ....1956
Dot A Ch Ext 1st g 6s..1941
DeaMom Div lstg4s..1939
Om Div 1st g 3%s.......1941
Toi A Ch Div 1st g 4s... 1941
Wab Pitts Term 1st g 4s. 1954
Trost Co certfs
J- J
M-8
J-J
J-J
J•J
J-J
A-O
M- S
J-D
gold 4s................1954 J-D
Trust Co certfs
1
Warren see Dei Lac A West
Wash Cent See Nor Pao
Wash O A W See Southern
Wash Termi 1st gu 3 %s.. 1945 F-A
West Maryland 1st g 4s...1952 A-O
Gen A conv g 4s
1952 A-O
Trust Co certfs
W Va Cent A P 1st g 6s 1911 J - J
WestN YA Pa Istg6s..l937 J-J
Gen gold 4s
1943 A-O
Inoome 5s
<*1943 Nov
West No Car See South Ry
I
....
105 s*
M-N
Utah* Nor gold 6s.. 1926
Uni N J RR A OCo SMPaRRl
Utah Central See Rio Gr Wes
Utah A North See Un Pacific
Utica* Black R See N Y Cent’
2a
M-N
A-O
£6
51
Jan’10
91 % Dec ’09
107% Aug’06
87
J-D
A-O
111%112
J-D
1929 J-D
Wabash
1st6s.
gold 6s.....1939
2d gold
1939 M-N
F-A
Jan’10
r
Low
112
106
96% 98
J -D
F-A 116% 117
112%
J-J
Ore Ry A Nav eon g 48.1946
Ore Short Line 1stg6s..l922
1st consol g 6s
1946
Gnar refund 4s
1929
Registered
...J
,
A-O
F-A
M-N
M-N
M-N
See 80 Pao Co
I
I
Tex A Pao 1st gold 5s
2000 J-D
2d gold ino 5s...........o2(H)0 Mar
La Div B L 1st g 6s
1931 J • J
W Min W A N W 1st ga 5s ’JO F-A
Tol A O O 1st g 5s
1935 J*J
Western Div 1st g 5s...1935 A-O
General gold 5s
1935 J-D
Kan A M 1st gu g 4s....1990 A-O
Tol P A W 1st
gold 4S....19W- J-J
TolStLA Wprueng3%s.l925 J-J
50-year gold 4s
.I960 A-O
Tor Ham A Buff lstg 4s. *1940 J -D
I Hater A Del 1st con g 6s 1928 J-D
U 1st refund g 4s
1962 A-O
Un Pao RR A 1 gr g 4s ...1947 J-J
Registered
1947 J-J
20-yr conv 4s
1927 J-J
1st A ref 4s
y2008 M- S
Ver Vai Ind A W
98
or
107% 108
114% sale
oon
Vandaliaconsol
g4s *...1955 J-J
F-A
eraCnuAPlstga4%sl934
87%
Range
,
1-2'
Last Sale
99% 100
97% 100
96
96% Tex A N O
i
94
Week?*
106% 106% Sep ’06
107% 107%
114% 114%
gold 6s....1894-1944 F-A
Gen refund slg as
97%
97
Jan’10
97%
.1953 J-J j
St L M Bge Ter gu g 6s. 1930 A-O 109
109
Deo’09
A 1st
98% Dec'09
96
101
Phils & Read cons 7s...1911 J-D
Rensselaer A Bar See D A H
Rich & Dan See Sontli Ry
Rich A Meek See Southern
Rio Gr West See Den A Rio Gr
Booh A Pitts See B R A P
Rome Wat A Og See N Y Cent
Rutland See N Y Cent
St L A Iron Mount See M P
St DM Br See T RR A of St D
St Louis A S F—jteng 68.1931 J-J
General gold 6s
1931 J • J,
St L<fe S F RR cons g 4s..'96 J-J I
Gen 15-20yr os ......1927 M-N
South w Div 1st g 6s..1947 A-O
...1951 J-J
Refunding g 4s
K C Ft 8 A M cong 6s..1928 M-N,
K.C Ft S A M Ry ref g 4s 1936 A-O
KC&M R<fe Blstgn58.1929 A-O
Os’rk A Ch C 1st gu 5s g.1913 A-O
6t Louis So See Illinois Cent j
8t L S W 1st g 4s bd ctfs.1989 M-N
2d g 4s me bond otfs...pl989 J-J
Consol gold 4s
1932 J D
Gray's Pt Ter 1st gu g 6s 1947 J -D
St Paul ife Dui See Nor Paoilio
St P Minn & Man See Gt Nor
St P <fe Nor Pao See Nor Pao
StP A S’x City AtajCtttPM AO
8 A <fc A Pass 1st gug 4s...1943 J-J
S F «fc N P 1st sink t g 5s.l919 J J
Say Fife West
See Atl Coast L
Scioto V&i A N K See Nor ife W
Seaboard Air Line g 4s ...1950 A-O
Coli tr refund g 6s
1911 M-N
Ati-Blrm 30-yrlst g 4s.el933 M-S
Car Cent 1st eon g 4s...1949 J-J
Fla Cen ife Pen 1st g 5s. 1918 J • J
1st land gr ext g 6s ...1930 J - J
Consol gold 5s
1943 J-J
Ga ife Ala Ry 1st con 5s ol945 J-J
Ga Car ife No 1st gug 6s 1929 J-J
Seab A Roa 1st5s
1926 J-J
Sher Shi A so See M K <fe T
811 bp Oca A U See Atl Coast L
8o Car A Ga See Southern
Southern Pacific Co—
Gold 4s (Cent Pao coll).£1949
D
Registered
£1949
D
20-year conv 4s
$1929 M-S
Cent Pao 1st ref gu g 4s 1949 F-A
Registered
1949 F-A
107%
Gnar stamped.
1936 M-N 106%
90
W O A W 1st ©y gu 4s..1924 F-A1
West N O 1st oon g 6s..1914 J-J 106
SAN Ala SMLAN
I
I
115% 115% 115 Deo’09
1
98% 4’ly 97
Jersey Cent coil g4s...1961 A O
Through St L 1st gu 4s '54
Gal Har ASA 1st g 6s..1910
Mex A Pao 1st g 5s
1931
Gila VGAN 1st gug 5s.1924
Hons K ife W T 1st g 6s.l933
1st guar 5s red
1933
A TC 1stg 6sint gu..l937
Consol g 6s int guar...l912
*en gold 4s int guar..1921
Waoo & N W div 1st g 68'30
i ife N W 1st gu g 6s....1941
Morgan’s La A T 1st 7s.l918
1st gold 6s.............1920
I
.
Philippine By 1st 30-yr s i 4s*87. J - J
Pitts Cm & st L See Pena Co,
gold 3 %s.. £1929
AsIIIIIIml
„
112% Dec'09
113
112
Pt Huron Dry 1st g 6s. 1939 A-O
Mort guar
j:j!
......
PereMarq—Cli A W M 5s 1921 J-D
Phil B A W
Southern Pao Co—<Continuedi
Bid
Art
No of Cal rnar g5s......1938 A-O
95
Ore A Cal 1st gnar g
5s.l927j J-J 103%
So Pac of Aris lot gu g 6s.c’10 J -J' 100%
So Pao of Cal—6s B A F.1912 A-O
101
1st gold 6s...
1912'A-O 101
1st oon gnar g 5s
1937
«
°®® J[?*ur F 68
1987 M-N 110
S Pao of NM ex 1st
g 6a.. 1911 J-J1 100%
93
83
SoPRoCcAst lstgn4s g.1937
Tex* NO Sab Div 1st g6s-1912
101% 102%
10O
94% Sale
J-J
Southern—1st eon g 5s....1994’ J- J 108 Sale
....*.1994 J-J
Develop * gen 4s Ser A. 1956 A-O
Mob* Ohio coll tr g 4a..l938 M-S
93% Nov’09
99% 101
111
Were End mo Jan 23
Registered
107%
107%
112% J’ne’05,
100
Price
Friday
Jan 28
N. t. STOCK EXCHANGE
go Pao #Rlstref
Apr'07
Apr'04
J-J
J-J
107
90
‘*98** *9*8%
7
Jan *05
110
High
105
..
98%
98%
105%
Since
BONDS
January 1
>
Deo *09
91
Oot '09
106% Dee *03
105% Jan '10
107
Oct '08
110
Feb'09
PCC& StLgas4sA... 1940
Senes B guar
1942
Senes C gov
1942
Senes 1> 4s guar
1946
Series E 34 guar g...,1949
Series F 4s guar
1953 J-D
O StL A P 1st con g 58.1932 A-O
Pensacola & Atl See LA Nasli
Peo A East See COCAStL 1
Peo A Pek Un 1st g 6s....1921 Q-F
2d gold 4 4s
01921 M-N
t
94
107%
110%
107%
109%
96% 96% 96
90
95% 97
92
92%
98%
92%
1U4 %
102%
1948 M-N
1950 F-A
Brie A Pitts gag 3 4s B.1940 J J
Senes C.
1940 J-J
GtR* lex 1stgag44s 1941 J-J
Flint A P M g 6s
1st consol gold 5s
92
101
1942 A O
|<g I
90% J'ne'06
90%
90 %|
97% Jan *10
90
Jan '10
98% Sale
Cl A Pgen gag4%sser A.’42 J-J
Pitts Ft W & C 1st 7s...1912
2d7s
1912
8d 7s
A1912
Pitts X A Ash 1st eon 6s.l927
103
......
Range
Utah
Jan’10
Dee'09
AtA Low
89 %
Gu 34s tr ctfs C
1942 J -D
Ga 34s tr ctfs D
1944 J-D
Guar 16-25 year g 4s.... 1981 AO
Cl A Mar 1st ga g 44s..1935 M-N
:-21
Week’s
Range or
Last Sale
105% 103
105
Registered.....
1921 J-J
Goar 3%s coU trost reg.1937 li t
Guar 3 %s coll tr ser B...1941 F A
Tr Co certiTs ru g 348.1913 M-N
Series B......
Series C 34s
Senes D34s
I
Price
112% 110 Oct ’09
Jan’10
9a % 98
....'j 98
111% 112
HI
30 111
111%
102%
12 101%
101% 102
*86
105
) 00
Dec *09
1
101%....
101
Jan’io
101
87
May’09 \ 1
Sale
72
72%
74% 718 *72
108
110
10 7%
1 107%
107%
1
86
88
83
Deo’09
1
76
82
76% i>ec’09
83
96
so
Jan’10
90
47
Jan’io
47
45
47
47% 203 45%
45%
8
6%
10
6%
6%
7
6% Salt
6
6
85
110
97
....
....
85
93%
Sale
71% sale
Jau’lo
70%
7i% 7*7
Nov’09
112
Leo’09
90%
90%
34
.....
J-J
94% Sale
92% 94
Manufacturing Sc Industrial
0 a steel Corn— (coup .41963 M-N
Sf 10-60 yr 6s. Ireg ..41963 M-N
Va-Oar Chem 1st 15-yr 6s 1923 J-D
vVeatinghouse E A Ms 15s ’31 J-J
104% Sale
SnpADnldivA term 1st4s’36 M-N
Feb’07
1
73
101
*77%
107%
90
62%
54
11%
12%
90%
£6%
73
68% 73
lj11 90%
105% Deo’09
104
Jan 10
Leo’Oe
86%
86%
90%
84%
36
73
100 %
Wheel’g ALBlstg 6s...1926 A-O 102 105
Wheel Div 1st gold 6s..1928 J-J 101%
Exten A Imp gold 6a...1930 F-A
99
RR 1st oonsol 4s
1949 M-S
86% »7
20-year equip s f 5s ...1922 J-J
Wilkes A East See Erie
Wil A Sioux F See SIP M A Ml
Wis Cent 60-yr 1st gen 4s 1949
90% Jan *10
65%
85
98%
113%
103
104
90%
104
105 %
99
2
86%
67%
61
93%
92%
94%
93
Dee’Ob
94%
94%
92% Jan’10
MISCELLANEOUS BONDS—Concluded.
Armour & Co 1 streal est 4 %s’39
Beth Steel 1st ext si 6s.. 1926
Cent Leather 20-year g 5s. 1925
Corn Prod Ref s f g 5s....1931
Distil Sec Cor conv 1st g 5s.’27
Gen Electric deb g 3%s..l942
10-yrg deb 6s
1917
Int Paper Co 1st oon g Os. 19lb
Consol conv s f g 5s
1985
Int St Pump 1st s f 5s....1929
Steel
Lackaw
1st g 5s....1923
N Y Air Brake 1st conv 6s ’28
J-D
J*J
A-O
M-N
A-O
F-A
J-D
F-A
J-J
M-S
A-O
M-N
A-O
92% Sals
88% bale
99% Sale
94%
72% Sale
U6
85
95%
*
87%
99%
100
72%
82
142
104%
Sale
85
96
96
98%
99
72%
Jan’io
143%
104
87
96
99%
118
93
83
Sale
89
71
92
94%
87% 89
69
132
99
....
97
1?
1*1*
100
97
72% 74%
82
142
82
147%
10 104% 104%
22
85
89%
1
95% 96%
20 99
100
24 109% 114%
12 103% 103%
96% 96%
104% 104%
86 89
94%
....
104% 106%
*
....
92
83
103% Sale 103%
No price Friday; latest bid and asked this week,
93%
88%
97
109% Sale 109%
103%
103%
95%
lepublAS lstAooltr5s.l934
Inion Bag A P 1st si 5s..l93o J-J
T S Leath Co s fdeb gOe.. 1913 M-N
J S Realty AI conv deb g 5s ’24 J-J
U S Red A Ref 1st s f g 6s. 1931 J-J
J-D
145
104% Salt
92
88
104
a
1
88
90
108 103% 104%
Dus Jan
b Dae Feb
Miscellaneous
Adams Ex ool tr g4s
1948
1952
Bash Terminal 1st 4s
Consol 5s
1955
Chic Jo A t Yard ool g 58.1915
DetM A Mldgr incomes.. 1911
• Due
May
g
98
92
4-8
95
Sale
Sale
91
90
96%
82
Sale
84%
••••••
105%
105%
97% 99
4
L01
99
92
81
67
91
92%
27
100
40
93
92% 93
40
40
95%
63% Sale
94
92%
90
40
♦
104%
96
96
576 104
104%
104
98
96% 105
M-N
Due J’ne
Sale
92% Sole
A-O
J-J
J-J
A-O
(nstitfor Irrig Wks4%s 1943
Int Meroan Marine 4%s..l922 A-O
int Navigation 1st s f 6S.1929 F-A
Nevrp Ne Ship A D D 5s 41990 J-J
N Y Dock 60-yr 1st g 4s..1951 F-A
Providence see deb 4s..,.1957 M-N
Provident Loan 800 4%s.l921 M-8
S Yuba Wat Co oon g 6s..1923 J-J
4 Due Apr
105
*•••••
h Due J’ly
68%
83
95
94
90
95
112
p
69 ‘v
68%
82%
71%
83
••••*«
94
D ae Nov
93%
94
......
«Option Sale
CHICAGO STOCK EXCHANGE—Stock
''
Jan. 26
Jan. 25
Frtdau
Jan. 28
Thursday
Jan. 27
Wednesday
Tuesday
Monday
Jan. 24
Saturday
Jan. 22
CHICAGO STOCK
EXCHANGE
of ihe
Week
Shares
Sanjz for Previous
Ranqe ley.
Year 1910
STOCKS
Sales
PRICES
STOCK S—HIGHEST AND LOWEST SALE
Record—Daily. Weekly and Yearlv
<1909
Lowes'.
Highest
Lowes1.
Raifroads
ion
*1fi£
*IoO
♦2
*6
♦107
♦30
♦15
♦81*
♦4U
♦30 ~
♦71
3
2U
*6
10
*107
109
♦30
31
*15
17
♦8*2
*4*2
912
4*4
4
♦54
*1*7
18
*17
*60
68
*60
*15*2
♦54*2
*15*2
♦54
5512 *54*2
2 38*8
*101 ’
40
105
40
♦101
123g
79*4
*214
♦130
*75
♦110
♦137
12*8
7914
133
76*2
112
138
117b
78
*214
*130
*75
*110
137
*35l2
36
72
52
35
*68
*48
*68
*48
*1
1*8
*1
♦2
41
*2
40
3
41*2
130
130
143
*117
118
1*4
130
11012
♦ig
20
113
124
85
39*8
120
*135*4 136*4
a
130
*18*
20
112
124
109
120
83
159
15934
121
*120
105Vi 108
10512
*163
105
1214
1U2
*20
21
165
105
1H2
21
697b
52
1*8
3
39*2
40
130
*129
129
11
11*8
75
77
75*4
Last Sale
♦130
135
130
Last Sale
7612
Last Sale
112
136*2 ♦134 137
Last Sale
Last Sale
36
*34
35
*68
70
69
Last Sale
52
Last Sale
1*8
T.njit Rnlp
3
40
*39*2 41
129*4 129 129
Last Sale
117*2 H8
1*2
U4
1*2
1*8
37
40
•
11
1H4
76*2
75*4
225*4 Oct’09
135
*130‘
Jan’10
Jan’10
138
77
112
*135
*8
*4
June’09
June’09
*35
*68
50
38
71
Jan’10
Nov’09
Nov’09
1
21*
40
41*4
12812
129
2*4
Mch’08
143*2 143*2 14312 1437S
117*2 117*2 115*2 116
1*2
1*4
1*4
Ho
Last Sale 20*2 " Jan’10
Last Sale 86*4
Oct’09
108
107
80
81
80
80*2 80io
78
46
Jan’10
Last Sale
*43
*43
T.njft Snip 218
Junp’07
Last Sale 20
Nov’09
20
*18
20
*18
*110
112
112
112
113
113
113
*111
124
123*2 12312
121*4 121*4 12312 123*0 *121
108
*107
108
108
107
107*? 107*o 107
118
118
120
120
*H8
*118
120
*118
110
111
110*4 109*2 110
109
1103s 110
Last Sale 11-16 Mch’09
155
15134 1531*
1535* 155*2 151
149*2 155
121
121
120*2 120*2 120*2 121
12034 121
103*2 1033j
10212 1033s 103U 104
101*2 103
Last Sale 7
Feb’09
*160
163
♦160
163
163
163
163
163
105
105
*104*2 105
105
105
105
105
Last Sale 1*2
April’09
Last Sale 3
April’09
Last Sale 734
April’09
*11
‘12
11*2 12
11
11*2 1178
113*
Last Sale 20*?
Jan’10
*19
20
20
*19
108
108
81
107
80
105*2 10678
108
Price
WceWs
Friday
28
Range or
Last Sale
Inter¬
est
Jan
Period
1927
Chic Cousol Br & Mlt 6s
Chic Consol Trac 4 V$s 1939
Chic Auditorium Ist5sl929
Chic Dock Co 1st 4s..1929
Chic Jc RR 1st M g 53.1945
Chic No Shore Elec 6s.1912
Chic Pne Tool 1st 5s_al921
Chic Ry 5s
1927
Chic Rys 4-5s series “A”
Chic Rys 4-5s series “B”
Chic Rys 4-5s series “C”
Chic Rys coil 6s
191.3
Chic Rys Fund 6s..1913
Chic Rys Tem Ctfs 1st 5s
Chic R I & P RR 4s..2002
Collat trust g 5s
1913
Chic Telephone 5s....1923
Commonw-Edlson 5s. 1943
Chic Edison deb 6s.1913
1st g 5s
July 1926
Debenture 5s
1920
Commonw Elect 5sbl943
Illinois Tunnel 5s
1928
Kan City Ry & Light
Co 5s
1913
Knlck’b’ker Ice 1st 5s.1928
Lake St El—1st 5s
1928
Income 5s
1925
Metr W Side El—
1st 4s
1938
Extension g 4s.... 1938
MorriJ & Co. 4 Vi
1939
North West El 1st 4s. 1911
No W G-L & Coke Co 5s’28
Ogden Gas 5s
F
J
A
A
D
O
-
-
-
J
F
_
_
_
92l2 Sale
A
Jan
Jan
Jan
Jan
Jan
Jan
^
_
_
__
_
i...
F
-
F
-
-
.
.
....
95*2
851* Sale
A
9134
A 1101
Sale
....
A
M- N
M- S
J - D
MJ A MM-
.
8434
Sale
101
A J -D
-
,
m
_
^
'
^
^
—
^
102*2 103*4
S 102*2 Sale
J
O UOO
S
S 1102*2 102*4
D
p
_
(_
w
....
Do
Do
Do
-
-
--
Al-N
A - O
J - J
—
•
....
83
—
100
Sale
Feb
11
Jan 25
Jan 27
82
130
77
Jan 26
Jan 15
130
111*2 Jan 5
13534 Jan 20
112
92i2
95*8
99*2
S
N
N
96
97
• 20«*
Sale
96
94*2
....
D
J
84
81
98*2
....
92*8
10012
——
....
....
....
102
94*2
....
92*?
....
1
_
Feb’06
84*4 Jan’10
101
101l2
Dec’09
95
85*8
85*a
91*4 Dec’09
101
101
IOU2 July’09
101*8 Dec’09
66*2 Aug’08
66*2 July’08
Jan’10
103
102l2
10234
J’ne’08
100
....
....
....
----
....
....
....
....
....
....
....
16
101
3934 Jan
74
Jan
5334 Jan
5
4
6
Jan
Dec
30
10i2 Dec
Dec
8
3*4 Dec
Dec
Dec
30
78
15*8 Sep
Jan
Jan 13
Jan 3
21
28
26
15
127
46
Jan
6
3
7
111*2 Jan 24
12H4 Jan 25
115
125
112
118
Jan
7
Jan 26
Jan 28
Jan 25
Jan
85*2 Jan
Jan 18
Jan
7
Jan 28
II634 j an
3
I49i2 Jan 25
120*2 Jan 21
I6534 Jan 3
121*4 Jan 13
101** Jan 26
109*>8 Jan
8
Jan 13
Jan 18
Jan 17
Jan 6
165
106
119*2 J'ly
4534 Jan
30
Jan
29*4 Apr
97
Feb
108
Nov
Jan
7h Jan
71*4 Jan
Jan
126 Jan
54*8 Apr
101
Feb
139
Aug
*r J’ne
*4 May
May
J’ne
51*4 Jan
10
48
Apr
2*8 Apr
20 ~ Mch
Deo
May
May
May
54*2 Dec
Deo
15*4 Nov
86
J’no
225*4 Oct
132
J’ly
81*8 Deo
112
Sep
145
1
5
40
Nov
Jan
Jan
Deo
7512 Deo
58
l
Apr
Apr
2*2 Nov
42
Dec
127
Jan
140
Sep
117
107
Jan
152
Oct
Jan
I2ii2 J'ly
17*8 Feb
70*4 Mch
117
Jan
38
43
Jan
Jan
20
Nov
97?8 Jan
118*4 Feb
Jan
Jan
Jan
82
110
102
25*8 Aug
88*2 May
13034 Aug
88*2 Dec
47
Sep
21
J’ne
11914 Sep
130
Sep
1081? Dec
124
Nov
1197s Aug
1
Mch
Jan
Jan
1691? Dec
100*2 Jan
114*4 Aug
55
101
Feb
Jan
119
9812 Jan
&8 Feb
12134 Oct
20
162
105
Jan
Dec
Dec
1*8 Mch
3*s Mch
9i2 Jan
153g Jan
2*4 Feb
334 Mch
10*2 Mch
20
22
15
Feb
25
3
Jan 10
Jan
13*2 Jan
29*4 Jau
52 J’ly
86*2 May
19*2 Dec
59
25
73
61
47
17
63
50
1
Jan 20
Jan
5
Jan
7
Nov
Mch
....
....
5
....
....
101
101
....
....
....
....
____
....
----
20
People’s Stk Yds State.
....
....
....
National City.n„
National Produce.'
North Avenue State
North Side State Sav'gs
North West State
86
85*a
....
Prairie National
Prairie State
....
103*4
103
Railway Exchange....
Security
South Chicago Savings.
South Side State
State Bank of Chicago.
Stock Yards Savings
Union Bank of Chicago.
Wendell State
American Trust & Savs.
Centra) Trust Co df III..
Chicago Sav Bk & Tr
Chicago Title & Trust..
Cltizens’Trust & Savings
Colonial Trust & Savings
Dro vers’Trust & Savings
Farwell Trust Co
First Trust & Savings..
Guarantee Trust & Sav.
Harris Trust & Savings.
Illinois Trust & Savings
Kenwood Trust & Savgs
Lake View Trust&Savgs
Merchants’ Loan&Tr Co
102l2 10278
....
....
100*8
3
100
5
102*2 102*4
....
.
Dec’08
96*4 Dec’09
Mch’09
83
May’05
....
2
----
Jan’10
100*2 Jan'10
Nov’09
Nov’04
Dec’09
Nov'09
2
this day.
....
....
....
....
•
-
•
-
2
....
——
----
84
83*8
....
17
13
85
83
....
92*2 93*4
95*8 96*4
....
....
94*2
93
....
....
....
....
...a*
....
....
_
10412
102*4 10212
104
....
....
94
94
.
----
Metropolita nTrust&Sav
....
....
100*4 1007g
....
....
....
....
and
Profits
i
Northern Trust Co
North-Western Tr&Sav.
Pullman Trust & Savgs.
Sheridan Tr & Sav Bank
Stockmen's Trust & Sav
Union Trust Co
Western Trust A Savings
West Side Tr&SavBank
Woodlawn Tr&SavBank
8,000,000
Dividend Record
Surplus
ing
Stock
Kaspar State Bank
Live Stock Exch’ge Nat
Monroe National
Nat Bank of Republic—
101*8
....
2
10212
week.
140*4
146
Jan 4
12 li2 Jan 11
2
Jan 13
2234 Jan 8
150,000
1,000,000
1,000.000
500,000
1,500,000
200,000
First National
First Nat Englewood
Foreman Bros B’k’g Co.
Fort Dearborn National
Hamilton National
Hibernian B’k’g Ass’n__
85
84*4
96
83
16
Bid and asked prices; no sales were made on
Institutions.
JNo price Friday: latest price this
Jan 26
5
Jan 11
Ja** 5
783g Jan
142*2 Jan
115*2 Jan
1*4 Jan
20*2-Jan
Englewood State
Drovers’ Dep National.
....
....
100
100
100*8 Aug’09
88
114
80
80
4
43
137
$100,000
500,000
7.000,000
9,000,000
3,000,000
200.000
600,000
200,000
D rex el State
10278 103*4
United Box Board ool 6s’26
j - j -rm„ WUnm
General mtge 6s
85*2 July‘08
Western Stone Co 5s. .1909 A - O
Note.—Accrued interest must be added to all Chicago h ond
_
Jan
15
200
Jan 20
161* Jan
3
_
——
87
94
Jan
38*8 Jan 20
128*2 Jan 28
11
ICO
National
Chicago City
Commercial National
Continental National.
Cora Exchange National
94i2
9212
....
Dec’09
101*2 Dec’09
80
Jan
8
3
6
135gJan 10
Jan 11
162
104
Calumet
....
....
....
N
....
55*2 Jan
543g Jan
75
1
High
....
....
O
S 1103*4 103*2
J
D
Q - M
1945 M- N
Low
68
8312
83l2
807g Dec’09
92*2
92*8
95*8
957g
9834 Dec’09
93
93
100*8 Mch’09
Nov’09
96
98
J’ne’09
100
Mch'09
121*4 May'09
103*4 Dcc’U9
104
Jan’10
102*2 Jan’10
F - A
J - J
J - J
M- S
Feb
4
6
100
pref
190
*2 Feb
NAME
—
—
80
Jan
Jan
17
56
4
5
full paid
full paid
Western Stone
1,368
....
103
Abr’04
Apr’09
9634 Jan’06
10212
11
14
18
104
107
118
109
Do rights
210 The Quaker Oats Co._ 100
Do
113
pref
100
Unit Box Bd & P Co-100
----
193
50
94i2
27
24
Jan 26
Jan 25
Jan 18
104
75
46
6.551 Sears-Roebuck com._ 100
Do
100
pref.
1.111
100
8,940 Swift & Co
....
10278
—
10
53
36
103
50
__
May’07
^
O
J
A
O
F
J’ne’09
101*4 Oct’09
tl023.i 103
Jan
Jan
Jan 10
9*8 Jan 6
Jan 15
5
39 Jan 5
73 Jan 7
3384 Jan 20
69*2 Jan 13
*
for
65
93
9212
7
3
3
*
Year 1910
....
102
102
S
1916 J M4.40s
M4.60s Series E
M 4.80s Series F
Peo Gas L & C 1st 6s.l943 A Refunding g 5s._..1947 MChic Gas L&C 1st 5sl937 J Co ns urn Gas 1st 5s.1936 J Mut’l Fuel Gas Ist5sl947 MSouth Side Elev 4 Hs.1924 J Swift & Co 1st g 5s
1914
Union El (Loop) 5s.. 1945
1
Union Pacific conv 4s.1911
In
1908
$43,029
207,686
3,382,172
4,919,686
5,310,183
29,247
382,087
32,093
8,254,451
167,011
563,618
377,987
157,069
837.615
6
10
ttl2
8
12
6
In
1909
Per¬
iod
6
An
10
till
8
12
9
10
9H
6
6
12
12s
10
10
Prlv ate Ba
8
8
6
5
8
8
10
10
10
10+2
4
4
8
8
3
6
3
6H
6
6
.
J-J
Q.-J
Q-J
A-O
Q-J
Q-J
Q-M
Last Paid
%
Deo ’Q9,6
Jan *10,5
Jan ’10.2
Jan ’10, 2l2
Jan *10,4
Oct ’09.5
Jan *10.212
Jan TO, 1*2
Dec 31*09,3 0
Q-M Dec31’09,2l2
nk
Q-J Dec31’09,2
J-J
Dec31'09,2*2
Q-J Dec31’09,2
Jan '10,20
132,458
Q-M Dec31’09,2i2
467,289
Q-F Nov 1 '09,1
64,091
300,000
Q-J Dec3n)9,2
2,000,000 1,153,655
Q-J Jan TO, 1*2
506,725
1,500,000
Q-J Dec31’09,l
69,079
250,000
Q-J Jan TO, 1*2
66.637
200,000
Q-J Jan *10,1*2
18,797
50,000
Q-J Jan 15*10,1
10,827
200,000
v’09
V.89, p.1320
65,305 Beg. b us. No
300.000
74,831
250,000
6
8
Q-M
bec31*09,l*2
60,221
500,000
2
None
Jan '08,2
<13,288
250,000
Dec31’09,l*2
Vi
300,000
160,920
6
6
Q-J Jan
10, 1*2
80,000
200.000
t.*09
us.
V.89, p.817
5,613 Beg. b
Sep
200,000
12
11
Jan
3
Q-J
TO,
1,500,000 1,557,135
7
8
Q-M Dec3i’09, 2
250,000
177,356
6
M-N Nov ’09,3
6
200,000
37,761
6
None Q-M Dec31’08,l*2
50,000
9,177
8
6
Q-J July '09, 2
81,834
3,000,000
7
7
Q-J Jan '09. 1*4
841,740
2,000,000
6
Q-J Jan TO, 1*2
»500,000
103,691
1H
6
6
Q-J Jan TO, 1*2
5,000,000 <1,319,160
4
A-O Oct '09.2
4
6,959
50,000
8+2 Q-J Jan TO, 2i2
600,000
507,056 8+2
8
Q-J Jan TO, 2
103,069
200,000
3
Q-J Jan TO, 1*2
209,387
1,500,000
16
Dec31’09. 4
Q-M
2,000,000 3,083,548
14,613 Incorp orated 1908 V.87.P.1138
200,000
6
m Q-J Jan '10,7*2
1,250,000 1,167,360
Jan TO, 4
q
5,000,000 8,460,043 16 + 4 16+4
6
6*4 Q-J Jan TO, 1*4
200,000
55,512
5
36,747
Q-J Jan TO, 1*4
4H
200,000
12
12
QJ Jan TO, 3
3,000,000 <5,510,211
6
6
252,643
Q-J Jan- TO, 1*2
750,000
8
8
Q-J Jan '10,2
1,500,000 2,160,762
6
J-J Jan TO, 3
6
200,000
*57,670
8
8
Q-J Jan TO, 2
189,967
500,000
12’0
9 V.89,p.141
us.
J’ly
24,974 Beg. b
200,000
5
5
J-J Jan '10,212
32,138
200,000
8
*8+2 Q-W Dec31'09,2
1,200,000 1,077.943
6
6
Q-J Jan TO, 1*2
210.833
1,000,000
76,164 Began bustne ss Be pt 5 1908
200.000
6
6
Q-J fan TO, 1*2
39,269
200,000
1,250,000
J-J
....
—
■»
‘
....
prices
•
t
t-\7ov. 10 (close of business) for national banks and Nov.
«Du" Dec. 31.
of 4%
came
17(opening of business) for Stato
n Capital and
from
moreFirst
cameTrust Ob Sav. Bank.
b Due June, k Also 20% in stock,
1009.
of 1%
Dividends
Dec 31are
paid Q-J,
u Stock
withincreased
in 1900. Q-F.
v In sin
addition
the equivalent
the equivalent
Sate
extra payments
addition
100
Do
pref
100
American Radiator.. 100
Do
25
pref
100
Amer Shipbuilding
100
Do
100
pref
20 Amer Telep & Teleg
Booth (A) & Co
100
Do
100
pref
285 Booth Fisheries com
Do pref
2
Cal ds'Chic Canal & D.100
Chic Brew’g & Malt’g
Do pref
840 Chic Pneumatic Tool .100
297 Chicago Telephone
100
Do
rights
100
160 Chic Title & Trust
246 Commonw’th- Edison. 100
Do
rights
12,358
Com Prod Ref Co com
Do
do
pref
100
1,078 Diamond Match
Illinois
Brick
100
1.438
Masonic Temple
Mllw & Chlo Brewing....
Do pref
100
108 National Biscuit
Do
73
pref
100
100
145 National Carbon
Do
pref
100
20,
779 People's Gas L&Coke.lOO
Do
rights
835
Range
,
100
100
J
D
A
O
-
B’ds
Sold
....
J
D
-
J
_
_
A {....
F
J J F J J F A MA -
Peareons-Taft 5s
*
9
4
31
70
16
52
——
Miscellaneous
2,750 American Can
Mch
Chicago Banks and Trust Companies
High No.
Mch’07
Ask Low
Bid
Amer Strawb’d 1st 6s. 1911
Armour & Co 4Hs
1939
Aurora Elgin&Chlc 5.1941
Cal & So Chic Ry Co
1st M 5s
1927
Cass Av & F G (St L) 5s ’12
Chic Board of Trade 4sl927
109
36
16
15*2 Jau 11
Outstand¬
RONDS
Chicago City Ry 5s
107
29
i )n
nref
100
305 South Side Elevated
100
2.251 Streets W Stable C L-100
Do
pref
100
Chicago Bond Record
CHICAGO STOCK
EXCHANGE
Week ending Jan. 28
7*2 Jan
100
Northwestern Elev
37*4
3i2 Jan 26
5
Jan 4
Jan 10
Jan 25
7
—1-
Jan’10
Last Sale 104
*14212 144
143
118
143
118
15s
35
*65
*48
*1
*2
35
6978
4012
*214
130
*75
*110
*136
112
36*2
214 Jan
Highest
1*2 Oct
5
Oct
977g Dec
180
100
ChlcApn CHty Ry
25 Chicago & Oak Park._100
73
Do
pref
100
Chic Rys part ctf “l"—
732 Chic Rys part ctf * 2“
Chic Rys part Ctf “3”
12 Chio Rys part ctf
175, Chicago Subway
100
20 Kans City Ry & Lt
100
Do
pref
100
Metropol W S Elev-.-lOO
Do
310
pref
100
Last Sale 185
Dec’09
*2
4
*2
3*2
*6
7*2
7*2
7*2
Last Sale 107*2 Jan’10
30
30
30
303s
Last Sale 15*2
Jan’10
9
9
*8
12
4
4
4
4*2
*30
31
*30
31
Jan’10
Last Sale 70
Jan’10
Last Sale 1 7
55
55
54
54
Last Sale 18
Dec’09
.Last Sale 70
Aug’09
53
53
*53
55
1134
76*2
76*2
*48
*1
*2
40
38
105
11
133
35
37
72
52
159*8
156
1207. 12U.
102
10512
11*8
*20 ~
75*2
137
111*R 112D
165
*101
11*4
75*2
11
54*2
37*2
38
105
112
76*2
*54
*17
*60
53
55*2
36
*101
133
IIOI4
*120
108
*118
*15*2
*214
*130
*75
*110
11212
*163
105
54
*17
*60
73
16
55
18
68
*71
73
16
54
18
68
*1512
12*8
79l2
106
79
*43
11112
*107*2 10912
*118
♦112
*28
*71
5512 *5412
105
4*2
30*2
4*?
4*2
30*2 *28
412
4*4
31
73
16
55
18
68
1*8
15s
110
83
*43
♦in
124
*2
1421? 1421?
118
*117
144
3*2
7*2
2*2
3*2
3
7*2
10
7*2
7l2
109
♦107
109
*107
109
30
30
29
31
303(4
17
*15
17
*15
17
9*2
*8*2
gio
9*2
*8i2
31
♦71
31
73
16
55
195
*185
195
*185
Year
.
surplus to be increased.
from First Trust Os Savings Bank. < As of
BOSTON STOCK EXCHANGE—Stock Record, Daily. Weekly and "Xearlv
SB ARB PRICES—A OT PER CENTUM PRICES
Sales
Monday
Jan. 22
Jan. 24
Tuesday
Wednesday
Jan. 25
Thursday
Friaau
Jan. 26
Jan. 27.
Jan. 28.
*1183.i 119
118*4 118*4 116 116 *117
117%
103% 103% *103*2 104'2 *103% 104*8 *103*8 1033s
23H2 231*2 231’2 232
230
231
230
231
133*4 133*4 133*4 133*2 132 133% 132 133
226
226
150
298
16
*148
298
*15
*75
+226
150
...
116
16
*74
*....
*45
lH
*45
___
1U2
_.
130
129*2 130
*10-1*2 105*2
104
£3
*86
19
81
*18
81
8H2
156*2 157
*
1
8a-2
156*2 157
1W
*..._
105
83
*86
19
*
197
115*/
115
♦ICi
It J2
*104*2
192% 189% 192*4
*101*1 1011*4 *91-3 9£
95
103
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45*2
*__..
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45*2
*102
95
45
102
103
7*4
18*2
7*
18*
45*2
103
7*4
20*4
121
122
lli% 121%
121
121*4J 120 121%
137*21 ;8
138
137
*33*2 3412
102
102*2 101% 102%
*10*4 10*2 *10*4 10*2
*20*4 27
*26*4 27
♦147%
7%
19
147
—.
231
231
230
232
132
133
132
133
*226
*226
*226
♦226
*148
149
150
149
149
150
149
150
#
*
*
298
297
♦.... 298
297
♦15‘ 16
♦15
16
Last Sale 16
Jan’10
*74
75
75
75
*74
,75
♦
Last
Sale
10
JanTO
11%
*44
45% 45*8 *45"
*44
155
155“
116
116
116
116*4
Last Sal 270
Oct’09
129
130
130
130
129*2
131
129*2 13o
105
106
106
106
106
106
106% 106
*86
88
*86
Last Sals 88
88
Jan’lO
Last Sale 195
Oct’09
18
18
17
1/
17
1734 18
17*2
80
80*2 81
81
81
80*4 81
81
155
156
156*2
157
158
15G34 156*2 157
Last Sale 149
Aug'09
Lest Sal. 210
Dec’09
*
*
197
191
197
196
IS/
196
Le t Lr’- 34
Jan’lO
'
*
113
114%
113
114% *..._ llo
*104%
104% 105
104% 104% 104*2 1041
184
186% 188
186% 188
18534 1863g 186%
Lest Sale 100% Jan’lO
*98% 99% *99% 9978
Lest Sale 168
Jan’lO
95
95
95
94
95
94^2 *94
108
108
*107
108
108
108
108
TT%
147%
198
195
12
*11%
10412 107
K)J
*...,
32
*27
28
168
16912
67%
07*4
80
30
8634
88%
123
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*90
8*2
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147
*
19
22%
12
26
85
-
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*.10
82
9
11%
1%
19*2
10%
102
10*8
9%
91
17%
8%
*1*4
*4%
2434
7*2
73%
25
9
*10
44*2
18%
1034
1%
16
*96
65
49*2
*51*2
4*2
41%
4%
12%
*145
130
17
91
85%
11*2
1%
20
11
102
1C%
5*4
9*2
94*2
17*4
8%
1%
5
25*4
8*.
76*4
25*4
9*4
1014
46*4
19*2
11
1%
16
3%
64
16*2
1434
67
9*4
39%
49%
52
4%
41%
4%
125g
147
*4%
1%
10%
4634
1%
16%
69
C50
.
31%
h.10
80 1
858
11
1%
18%
10*8
100
10
27*2
5
24
4*4
9
86
16%
8
1%
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24%
*7%
70
24
8%
85
650
32%
.15
81
S%
1134
1%
19
11%
101
10%
27%
5%
24%
16
90*2
7*4
1%
47%
155
2034
87
2%
15%
*3%
61%
1534
14
61
9%
38%
49
51*g
4%
41
4%
11%
145
48
159
21
83
21
151
78
95
—
122
11312 113
135 *134
100
U%
108%
27
67*4
.55
1734 18%
1934 21%
11
11
2434 26*4
63
640
30
.12
79
*8%
10%
1%
IS
9*2
98
9*8
21
434
22
7
1%
*4%
23
7
67%
23
73%
645
31
.12
80*4
9
11
1*4
187r
10*4
99
10
21
434
24
5
9
8234
16*4
7*2
8*2
83.i
10*4
9*
1%
47
165
18
9*2
95
9%
23%
434
23
4
9
74%
15%
80
7*2
4-><
27?
assess ts called In
18
9%
4*2
9*4
7
24
8
*
72
641
30
.15
1(;%
24%
5
24
7
65
23
7%
7
24
8
10
43
16*g
9*2
1%
45%
40%
43
15*4
9*8
14
16%
9%
1%
156
157
15
3*8
58
.14%
13%
64
9
37
46%
50*2
4%
39*2
52%
*4%
86
59
15
14
64
9
38*4
4734
51
4%
41
52%
434
10l» 11
140
145
2%
1909.
2%
9*4
*1
44*2
*154
1934
86
2%
15
3%
55*2
14*2
13%
63
8*2
38%
46%
5034
4*4
10%
46
155
20%
86%
238
1534
3%
59%
15
14
64%
9
38%
48151
4%
39
40
52
52
4 7-16 4%
9%
140
2%
68
11
142
234
640
29
.15
29
*.10
79%
8%
10*8
*1%
1,185
1,083
2,7o2
48
12
78
Do
pref
100
Maine Central
100
Mass Electric Cos_.__100
Do
pref
100
N Y N H & Hartford. 100
Northern N H
100
Norwich & Wor pref. 100
Old Colonv
10c
Rutland pref
10(
Seattle Electric
..100
Do
pref
100
100
100
100
50
50
1,050 Union Pacific
Do
pref
Vermont & Mass
51 West End St
59
Do
pref
Miscellaneous
94
10
21%
24
5*g
5*8
22
23
62
15
6S%
16%
7%
1%
8
1%
434
24*4
7%
68*8
"24"
7%
66%
23%
7%
Telep & Teleg.lOU
Dominion Iron & Steel..
1,385 East Boston Land
1,161 Edison Elec Ilium...100
783 General Electric
100
2,282 MassachusettsGasOos 100
Do
1,447
100
pref..
52 Mergenthaler Lino
100
120 Mexiean Telephone.. 10
221 N E Cotton Yarn.... 100
134
Do
100
pref
211 N E Telephone
100
25
25
25
2 L) Bonanza (Dev Co)
6,656 Boston Con CdsG(rcts)
Bos&CorbCop&FPMg
10
£1
5
Butte-Balaklava Cop.. 10
Butte Coalition
15
Calumet & Arizona.. 10
93 Calumet & liecia
25
25
1,015 Centennial
100 Cons Mercur Gold
1
3,061 Hancock Consolidated 25
603 Helvetia Copper
25
4,571 Isle Roy ale (Copper). 25
1,970 Keweenaw Copper..__25
5
3,033 Kerr Lake
71,397 Lake Copper
25
La
Salle Copper..... 25
4,770
25
4,700 Mass Consol
335 Mayflower
25
65 Mexico Cons M & S-_ 10
6.866 Miami Copper
5
550
5,158
7,057
23%
8
5,360
10
2,702
4134 16,497
1538 32,168
9% 2,260
800
1%
46
1,642
10
40%
15%
9*4
1
45%
153
20
154
20
85%
2*4
15%
85*2
2%
16
3
3*4
56*2
57
14
1434
14%
13*2
63
63
81-
8%
38"
47%
50%
38
47
50*2
4*4
39%
o4!4
39-s
’"5"
10
139
144 Cumb
4,903 Copper Range Con Co 100
270 Daly-West
8%
20
101- 7,208 East Butte Cop Min_. 10
Elm
River
12
1% 1,170
25
18% 5,039 Franklin
5
10*8 23.364 Giroux Consolidated.
95
625 Granby Consolidated. 100
20
10% 11,675 Greene Cananea
9%
C
Connecticut River
100
962 Fitchburg,
100
pref
347 Ga Ry & Elec trie.... 100
79%
18
’"5"
10%
139
2%
* Bid and asked prices,
2%
123*8 Jan
104% Jan
25
Michigan
Mohawk
25
Nevada Consolidated.
5
New Arcadian Copper. 2 5
Nlplssing Mines
5
North Butte
North Lake
Oi lb way Mining
Old Colony
Old Dominion
267 Osceola
2,013 Parrott (Sliver & Cop)
282 Quincy
865 Santa *Fe (Gold & Cop)
6,292 Shannon
1,650 South Utah M & S
—
15
25
Jan
Jan
Jan
Jan
Jan
Jan
Jan
10
25
18
10
11
45% Jan 25
153
234
Jan
13 0% Jan
226
Jan
151
Jan
298
Jan
16
Jan
75 Jan
10
Jan
48
Jan
156
Jan
118
Jan
20
18
20
133% Jan
17
155
Jan 27
Jan
Jan 18
19% Jan 12
81% Jan 13
158% Jan o
191
34
113
104
184
Jan 27
Jan 8
Jan 28
Jan 3
Jan 27
200
35
116
105
19
800 Tamarack
d New stocir.
c Ass’t
paid,
105% Jan
2
43
101
7
Jan 27
Jan 27
Jan 15
18% Jan 17
118% Jan 25
119
33
100
10
100
Jan 25
Jan 17
Sep
11% Jan
60*2 Jan
Nov
Jan
128% NOV
Jan
Jan
Oct
75
79
195
f)153
146
200
190
26
Jan
22
14l7g Jan
3
Jan
3
3
7
37
28
Jan
4
100
Jan
5
100
109% Jan 10
34% Jan 3
^8 Jan 14
Jan 24
31% Jan 28
27
Jan 18
165% Jan 15
66
29
81%
120
15
Jan 25
Jan 28
Jan 25
Jan 25
Jan 28
90*2 Jan 2o
5% Jan 10
45
78
31
49
Jan
Jan
Jan
Jan
27
25
27
25
39*2 Jan 27
.80
Jan
6
9% Jan 27
.55
Jan 20
17% Jan
19*2 Jan
10% Jan
24*2 Jan
20
27
26
20
63
25
25
640
29
.11
79
Jan
Jan
Jan
Jan
Jan
27
11
25
8*2 Jan 15
10% Jan 27
1% Jan 24
17
Jan 13
9% Jan 25
94
Jan 28
9% Jan 25
21
Jan 25
4% Jan 19
22
4
Jan 25
Jan 25
8-g Jan 20
60
15
5
.95
Jan 2/
Jan 27
Jan l
Jan o
4% Jan 26
2278 Jan 19
7
65
23
7
Jan 3
Jan 27
Jan 20
Jan 3
9% Jan 17
39% Jan 25
8
Jan
8
9% Jan 25
Jan
i
44*2 Jan 27
Jan 28
19% Jan
4
Jan 26
2% Jan 28
Jan 25
Jan 28
55% Jan 27
14
13
62
Jan 28
Jan 25
Jan 25
8% Jan 27
36% Jan 8
4b% Jan 28
501 o Jan 26
4% Jan 28
39
Jan 27
49*2 Jan 25
4% Jan, 20
97s Jan 27
139
b Ex-stock dlv.
1
h
179
70% Jan
31
41
Jan
90*4 Jan
125% Jan
18
94
Jan
Feb
Feb
Jan
Apr
75
168
9% Jan
100
Jan
20*«> May
3
2
4% Oct
34
65
23
Jan 20
22% Jan 3
24% Jan 13
13
Jan 10
28*2 Jan
103
635
38
.16
85
o
Jan S
Jan
3
Jan 3
Jan 10
Jan i
9% Jan 21
13% Jan 3
2
21
Jan
5
585
29
.10
Feb
Feb
J'ne
68*2 Feb
7*2 May
7*2 Feb
Oct
Feb
7% J'ne
9
Feb
Feb
8*4 Sep
6*2 Dec
22*8 Apr
2*2 May
7% Apr
16
8*2 Jan 21
75
Jan 22
27*2 Jan II
10% Jan 12
10% Jan 11
50
Jan
3
19% Jan 21
12% Jan 14
1*2 Jan 15
55
166
Jan
Jan
3
3
21% Jan 3
91% Jan 12
2% Jan 3
18
Jan
3
3% Jan 19
08% Jan 14
18
Jan 12
16% Jan 10
78
Jan
5
11% Jan 3
40% Jan 14
55
Jan
?
53% Jan
5% Jan
3
46
3
Jan
l
60*2 Jan 3
5% Jan 14
15
150
260
173
Apr
Aug
83% Dec
97
Apr
220% Dee
3% Oct
125
118
139
108
Oct
Oct
Sep
Oct
lyo
Aug
12
Sep
114*2 Aug
71
Dec
Nov
Dec
Oct
31% Sep
94-8 Oct
131
1;
98
Oct
Dec
Dec
10*2 May
62
Oct
96*2 Not
40*9 Dec
54
Dec
Feb
10% Mch
17*8 J’ly
8
Sep
21% Feb
96*4 May
10*4 J’ly
4% Mch
87fiJan 22
J’ne
12% Sep
31% Aug
8% Oct
147*? Nov
71% Dec
13% J’ne
.45
19
]-< Jan 33
5
Jan
7
29 Jan 4
108
18
SO
94% Jan 22
Jan 14
22*r Nor
Apr
Apr
145% Sep
40*8 Aug
136
131
51% Dec
90
11
50% Aug
105 J’ly
9% Feb
J’ly
12*2 Jan l*1
111*4 — a * 1 o
117a Jan 3
578Jan 4
28%Jan 3
6% Jan 14
J’ne
8
1
13
Jan 12
40
117% Aug
107
Aug
218*4 Aug
117% Aug
175
Apr
98*8 Apr
112
Apr
Feb
Dec
Jan 12
Jan l-»
36
Jan
Feb
Mch
Aug
30
.30
12% Jan 14
.55
Oct
Nov
Sep
200*8 Jan
170
38*8 Feb
Jan
149
126*2 Jan
r54
Mcb
28*9 Jan
Feb
6*8 Jan
76
Mch
Jan
19
84
34
35
107
90*4 Jan
40*2 Jan
53% Jan
50*4 Jan
J’ly
88% Sep
195% Jan
24% Jan
9*4 Jan 24
57
Feb
Jan
41% Feb
Jan
Jan
Mch
Feb
Dec
136
103
215
Nov
Nov
125%
27*2
93*2
4%
15*4
8%
Jan 17
Jan 28
275
Jan
.30
Apr
3*2
12*4
6%
2:57%
16*2
3*2
9%
Apr
Feb
Oot
J’U-'
47
Dec
44
4
J’ne
Feb
Dec
Dec
Jan
Jan
Feb
Jan
Oct
37% Feb
39% Feb
3
Dec
11% Dec
33% Nov
119
695
Jan
Au»
44% Sep
.35
Jan
88% NOV
12
Mch
16% Apr
2% Jan
19
Aug
12% Nov
110% Dec
14% Nov
38
Dec
7% Aug
33*4 Feb
r/% Dec
9%
74*4
191,8
18*4
Dec
Dee
May
Aug
1
6
Nov
Dec
28% Dec
13% Mch
70*8 Jan
8% Dec
13
Sep
85*4 Jan
11% Aug
14% Dec
1318 Nov
1278 Apr
62
Jhy
9% Dec
28
39
24
30
1% Nov
13*2 Feb
34
May
23% Dec
Fib
47% Feb
122
19
83
Feb
Jan
NOV
Oct
4% Mch
5% Nov
40
1
Oct
.90
59
170
Nov
Dec
Aug
Dec
36% J’no
99
Jan
2% Jan
17% Jan
67
Dec
18*2 May
18% J’ly
90
Feb
17% Jan
39*2 Nov
59
Sep
54
Oct
6% Jan
49% Nov
66
6
No*
Dec
Jan 14
4% Apr
fl3% Dec
Jan 3
139 ' Mch
158
Aug
2
3% Jan 14
Oct
4 Jan
Ex rights, a Ex-dlv. and rlghti.
Jan 21
2% Jan
12
J’ne
Apr
5% Jan
Jan 27
13
Jan 14 xll4
Jan 12 a:117
103% Jan
11*2 Jan
162
123
174-8 J’ne
Jan
94
NOV
Jan
Feb
Nov
Feb
33% Jan
4
8*4 Jan 26
Dec
Mch
77*2 NOV
14*2 Mch
55*4 Oct
11% Jan
58*2 Jan
487g Jan 10
124
123
22
Jau
Jan
Deo
Jan
Apr
Jan
90*4 Mcb
Jan
97*2 Apr
204% Jan
*172% Feb
103% Jan
93% Meta
168 Jan 17
165
Jan
95
Jan 19
83
Jan
108
Jan 17
102
Oct
198% Jan 21
15
3
10
3
I887g Jan 4
11% Jan 15
10
5
25
25
25
25
28
17
12
18
295
267
103
135
235
153
301
132*9 Jau
Jan f
Apr
8% Jan 11
Apr
125
Jan
147% Jan 24
18*- Jan
69% Jan 14
10
Jan 19
Jan
11% Jan i
7
*239 Jan 26 251% Jan 3
245
Jan
151
Jan 25 160*2 Jan 6
150% Feb
83
77% Jan 25
Jan 3
59
Jan
92% Jan 8
96% Jan HL 89 Jan
214% Jan 4 216% Jan 26 202*- Men
4
2% Jan 3
2
Jan 19
Jan
121% Jan 28 124 Jan 3
68
Apr
111*2 Jan 3 115 Jan 11
93
Jan
134
Jan IS 137% Jan 3
126% Jan
85
5
Jan 18
Jan 25
Jan
3
25*2 Jan
6%Jan
143% Jan
68*2 Jan
10
25
10
5
Jan 25
135% Jan 19
153
25
2,580 Wyandot
7
3
.65
25
UnltedStatesCoal&Oll 25
U S Smelt Ref & Min. 50
Do
pref
50
Utah Consolidated
210 Utah Copper Co
915 Victoria
3,598 Winona
197 Wolverine
Jan
Jan
25
25
Trinity
Utah-Apex Mining...
99% Jan 19
168
94
124% Jan
223*2 Dec
143
115
J’ne
239*4 Apr
May
43*; Dec
Jan 12
Jan
Jan It
88
106
Jan
10
129
104
87
79
225
21
Jan 17
Jan 22
108
125*8 Oct
100*% Jan
10
116
25
25
5,792 Superior
25
4,176 Superior & Boston Min 10
9,945 Superior*Pitts Copp. 10
1,140
1,765
8,930
1,802
2,390
2,893
Highest
Jan
93
....
5,490
11
1.865
26% 14,579
73
10,430
640
16
8
24*8
20
Jan 25
132
225
146
298
15
74
.
20%
11
26
5%
9*4
77%
1%
434
.65
19*2
10*2
pref
Boston & Wore Elec Co
50
Do
pref
5 Chic June Ry & USY.100
24
Do
pref
100
42% 14,597 Arizona Commercial. 25
709 Arnold
25
1%
73d Atlantic
25
9*2
1%
11
iu
19
Suburban El Cos.
95 Anaconda
"46"
bv.;
& Maine
& Providence. 100
45
334 Allouez..
82% 30.920 Amalgamated copper 100
32
3,776 Am Zinc Lead & Sm_. 25
31%
80%
100
100
100
Mining
8% 13,720 Adventure Con
8
46
81
20*4
11*4
27*4
5
22
23%
90%
10
9*2
.65
*.55
20120
934
21%
1%
16
41%
1%
Elevated
& Lowell
Do
116
1027g Jan 20
100 229% Jan 2
...
123%
62
96
9
60
15
7
66*2
29
83
Lowest
Bighes.
100
Albany
lPacific Coast Power._ 100
252 Pullman Co
100
30 Reece Button-Hole.. 10
103% 3,922 Swift & Co
100
100 Torrington, Class A.. 25
31*2
28
Do
87
pref
..i 25
179
2,032 United Fruit
100
Un
Shoe Mach Corp._ 25
667g 2,647
29
747
Do
pref
25
84% 29.920 U S Steel Corp
100
Do
228
123%
pref
100
15
1,143 West Telep & Teleg 100
Do
150
90*2
pref
100
31%
47
10%
*1
*11*2
113
135
Jan’lO
193
12
171
83*4
32%
10
41
45*2
215%
3%
121%
*27
8*4
95
4*2
78
16
2%
15*2
3%
11
145
834
10*g
1%
23%
*2%
48%
61*2
4*2
40*2
49%
65
640
29
*.10
79
5
2%
15%
3*2
46%
5(%
4*4
39*2
49*2
484
11
2534
10*g
24*2
20%
14
64
9
38
19%
19*2
18*2
8
7
*.55
10
1%
90*2
39%
*1%
9%
96
7
90*2
31
52
834
10%
1%
20
85
86
13
62
9
38
2%
79%
834
10%
1%
20%
15
10
144
*.10
69*4
15%
3*8
29*2
70
640
30
.15
a;67%
23%
7
70
24
17*4
2%
66
640
16
80*4
20*4
20*2
11%
26*2
24%
43
*1
1934
10%
25*4
16
8
45
1%
10
.60
2334
12%
45
155
20
+--_-
1%
934
.50
20
2334
7%
9%
39*2
9%
♦
32
27
&
....
4438
101%
215%
3%
121*2
103
170%
67
67*4
29% 29%
81% 83%
121% 121%
51%
4234
1%
4%
60
4%
8*4
4*2
15
12
145
3
90*2
*11% 12
102% 104
27
170
17
90%
l'!
67
41
84%
122*2
49%
4334
1%
10%
16%
4%
88%
3134
51%
41%
*
66%
80
122
pref
1,260 Amer Agrlcul Chein__100
299
Do
pref
...100
8
8
3,392 Amer Pneu Service
50
21
21% 3,275
Do
pref
50
121
1221
1,013 Amer Sugar Refln
100
121
12H
859
Do
pref
100
136% 137% 12,468 Vmer Telep & Teleg__10O
36
36
564 American VVooleD__._lOu
101
101
2,012
Do
pref
_100
285 Atl Gulf & W I S S L.100
251353
Do
25%
prof
100
Jan’li
Boston Land
G%
If
113% 113% 113
134
135
135
Last Sole 100
191
193
193
194
49
41
1%
122
113%
29%
122
*16
9%
63
52
66*2
122
16
91
lf?l
65*2
9*2
39*2
49*2
27
168
171
22
12U
122
215% 216
*3%
4
135
32
27
169
8*4
443g
101%
Last Sole
147
147
*147
Last Sale 60%
Jan’lO
10
10
10%
10%
242
24034 241
244*2
151*8 153% 151
151" 1
80
79
78% 78%
95
94*2 94%
96%
•11% 12
102% 104
32
102
135% 137*4
35% 36
100*4 102
10
10*4
2534 26%
95
47
10
.55
20
121
120
qa
*192
44*2
734
216*2 216*0
*334
4
12134 12134
-
;>%
15
0%
94
83
32
15%
44%
43
101
23934
152*8 152%
78% 79%
46
74
18%
10%
1%
10
239
79%
17*4
8*4
1*2
17%
240%
80%
8%
9
67
10
47
4
10*4
*66
10
32
5
7%
73*4
2434
10
31*2
l!%
5
24'
147%
47
78
92
10
43
3
2%
Befo.e pay t of
.66
18% 18*4
21*2 22
11% 12
26% 27
267£
.15
82
9
33%
.50
19%
22*2
12%
660
33
32
147
*29% 29%
81% 83*4
81% 83U»
.60
2%
e
168
66
60
46%
9*4
39
171
0%
62
47
48*2
159
159
21
21
89
90
21o
2%
15%
3%
6234
16*2
1434
11%
K
29
*26%
*27
170
147
195
101
32
6734
29%
84% 87%
123% 123%
123
18
91
28% 2f>
6
*4*4
24*2 25
*5
12
105
»
67%
d* .1*
*.60
191
29%
83% 84%
8834 34
46
195
46
101% 102
7*2
8*4
20*2 20*2
120
121%
119
120
119% 121
135% 137% 136% 137*2
33*2 34
33*2 3434
100
102
100*2 102
10*4 10*4
10% 10*4
26% 26*2 ♦25*2 26
'
198
45
fl909)
Top & Santa Fc.100
1,073 Boston
672 Boston
3 Boston
125 Boston
4 Boston
Boston
150
Hangs for Previous year
Railroads
,
327 Atch
40
Do
__
43% 45
101*2 101%
7*4
7*2
19*2 20%
118*2 120
"Io% IM4 10*4 10% 10
2403i 240% 241% 242
240
156
155*2 156
156
151
78
78*2 78*4
78*77%
95
95
95
95 ‘
95
*215*2
*216*2 217 *215*2
*3%
4
4
*3%
334
121% 122*2 121% 121% 12134
*113*4 114*2 114% II334 113*2
136
136
136
136
134*2
*
99
99 \*
*1U2
116%
104*4
10334 103S4 *103%
Range Since Jan. 1.
Lowest
..
..
117
*129
*116
117
Week
Shares
...
150
♦297
*15
75%
116
stocks
BOSTON STOCK
EXCHANGE
the
0,
Saturday
Boston Bond Record
Jan. 29 1910.
3
BUNDS
BOSTON STOCK EXCH’GE
Week ending Jan 28
*+
Price
Week? s
Range or
Last Sale
iYidav
Jan 48
Bid
1
High< *«>, Low High
125
coil tr 4s. 1929 J. j
92*9 Sal*4 j 92 V
92
91V 98 V
Convertible 4s
198 & M- 8, 101*4 102 V 102 V Jan *10
92*4 1«7V
Am Wnt Paper 1st s 15s k 1919 J.J
83
! 83 Mar’o.»
83
5 130
Aria Com Cop 1 st conv 6s 1918 M-S
204
|1G7 V 167 V
12
Aten Top A S Fegen g 4s..1996 A-Oi
99*4 100 100
1001*
99Hi 101 Hi
1
94 V
93.
95 H; 94**
Adjustment g 4s.... J’ly 1995 Nov
92*8 94 V
93
95 V 93 V Not '09
93
J’ly 1995 M-N
Stamped
94 Hi
119
Dec *09
50-year conv 4s
102 V 121V
1955 J-D
10-year conv 5s
1917 J -D 115 ......1120 V Aug’09 .—':1071ft 1201,
Atl Quit A W X SS Lines 5s.’69 j -J
70
Sale j 08
70
23; 59
73 Vi
Boston Elect L oonsoi 58.1024M-S
<110
Fe0’04
Boston A Lowell 48.......1916 J.J
'lool4 Mar’09
100*4 100*4
'104 Hi Oct ’08 <
Boston do Maine 4 Vs
1944 J.J
Boston Terminal 1st 3 Vs.1947, F-A
1112 Hi Jan ’031
Bur A Mo Kiv cons Os ....1918 J-J 102 Hi
Dec'001 ..':iu2 102
1102
99 Hi Jan ’09
Sinking fund 4s
1910' J.J
9o Hi 99 Hi
Butte A Boston 1st 6s
1917 A-0
1100 J’ne’Ol!
'117 J’ue’08
Cedar Bap & Mo B 1st 7s.l916 M-N
2d 7s....
1909 J-D
|lllJsJ’ly’05
Cent Vermt 1st g4s..Mayl920 <j-F
85
87 | 87
87
81
90*2
O B A a Iowa Div 1st 68.1919 A-0
11103 Oct'07
IowaDlvist4s
1919 A-O'
j 99nftJ’ly’09
996ft 100H
Debenture 6s...
1913 M-N
101 Hi Jan ’10
101 V 101V
Denver Exten 4s
1922iF-Ai
99 Hi 100
99V
99*4
Nebraska Extern 4s
102 May\»9
I0IH1102
1927;M-Nj
1921 M-8!
BA8Wst4s
99
Oct’09
985ft 99
Illinois Div 3 His
1949 J-Jl
8914 Nov’09
89*4 92
Joint bonds See Gt Northern
Ohio JO By A Stic Yds 58.1915 J-J ; 101
9 101
104
101H, 101H*
IOIHi
Coll trust retunding g 4sl940 A-0
94
92V 92Vi 91 Jan’10 ..Ji 91
Oh MU A StPDubD 68..1H20iJ-J
115*2 Jan’10
116
118*4
OhM AStP WisVdiv 081920! J.J 1
126
FeD’05
OhlCJS No Mien lSl gu 5s.l93x M-N 101
102 Hi 103
sep ’09
101
103
Chic A W Mich gen &S....1921 J -D
103
104
Hz Jan’10
... 102
106*4
Conoord A Mont cons 48..1920 J-D
91
Dec’07
Conn A Pass B 1st g 4s...i943 A-0
112*4 Jan’03
Current Biver 1st 5s
1927 A-O
96
Feb’09 ...i| 96
96
...
..
Det Gr Bap A W 1st 4s... 1946 A-0
Dominion Coal 1st s t 6s.. 1940 M-N
4s
Unstamped 1st 6s
1933 A-O
Gt Nor C B A <4 00U tr 4s 1921 J-J;
Begisterea 4s
1921. Q-J
Oct’09
96
133
Apr'08
; 87
92Hi
...I 96Hi 977ft
...
Jan’10
103 *ft Api ’05
1915 M-S
1927 M-S
Fremt Elk A Mo V 1st ds.. 1933 A-O
91
98
Mar’09
133
133
<140
Apr’05
971
67, 95*4 99
967g Sale
966ft
96*2
96*4
90*21 10; 96*4 98*2
....
Bia
Illinois Steel deben 5s....1910 J.J
Non-convertdeben 6s...1913 A-0
la Fails A Sioux Cist 7s.. 1917 A-O
Kan C Clin A 8pr 1st 6s...1925 A-O
Kan C Ft S A Gulf ext 5s.. 1911 J-D
Kan C Ft Scott A M 6s....1928 M-N
Kan O M A B gen 4s
1934 M- S
Assented income 5s
1934 M-S
Kan O A M By A Br 1st 5sl929 A-O
Maine Cent eons 1st 7s...1912 A-O
Cons 1st 4s
1912 A-O
Mara Hough AOntist6s.l925 A-0
Mass Gas 4*28
1929] J J
Mexican Central cons 4s..1911.1 J-J
lstconsmo38
Jan a939 J’ly
2d cons mo 3s.......Jan 1939 J’ly
Mich Teleplst 6s
1917|J- J
Minne Gen Elec con g 5s 19291 J.J
New Eng Cot Yarn 5s. ...1929 F-A
New EngTeleph 6s
1915 A-0
5s
1916j A-0
New England cons g 5s... 1945; J - J
Boston Term 1st 4s
1939 A-0
NYNHAHoon deb 3Vsl950 J-J
Conv deb 6» (ctls)
1943 J-J
Old Colony gold 4s
1924 F-A
Greg By A Nav con g4s.. 1946' J-D
Grog Sh Dine 1st g 6s
1922 F-A
Bepub Valley 1st s t 6s... 1919, J- J
Butland 1st oon gen 4 Vs. 1941 J-J
Butland-Canadlan 1st4s 1949 J-J
Savannah Elec 1st cons 5s.l 952' J-J
Seattle Eleo 1st g 5s
1930 F-A
Terre Haute Eleo g os....1929! J -J
Torrington 1st gds
Saturday
Monday
Ian'42
Jan 24
Tuesda
Jan
ST
Wednesday
Jan 26
Friday
Jan 28
Thursday
Jan 47
•48
86
123
•25 V
•45
•13
86
124
25*2
46V
14
26V 26V
110 11V
102 V1U4V
87
a7*w
14
61
*
U
26V 26V
81V 81V
6*4
6V
60 V 61*2
93V 93V
124
26
124
25
124
24*«
24V
43
43
44V
13
46
13
*12V
13
13
27
*26V
27
47 V
47 V
60V 60V
•12
60
30 V
80
124
47 V 47 V
40
60
12
12
66
60
20
28
77 V 78V
11
11*
24 V 26 V
117 *8118
12 V
61
31V
81V
11V 1DV
26V 26V
118V U0
0»V 101
1U1V103V
6b VM^is1 06«*i« 66
50 V
14 V
26 V
40V 60
18 V 14
24 V 26
oOv
14 V
26V
70»48O1*1# 77Vs 79 V
6V
0V
61V 61V
03
03V
6*4
69is
60
6iv;
92V 93
Bid
inactiTe Stocks
Allegheny Val pref...
Amai Asbestos Corp.
80V
Preferred
00 V
1
American Milling
10
Amur Pipe Mtg
100
BeU Telephone (Pa). 100
Cambria Iron
60
Central Coal A Coke. 100
Ask
**3*ov
00*4
iio
*47
46
84
77
85
*68* *6*8 V
Ft Wayne AW V
100
_
Indiana Union Tr....l00
Insurance Co ot N A.. 10
22V
‘23**
12
40
Keystone Watch Case. 100
Lit Brothers
10
Little Schuylkill
60
Mlnehili A Schuyl H..50
N HaTen iron A steei.6
15
17
67V
61
123 v 124 V
Pennsyivanm~60
Pennsyl BB receipts
ioJ"
70
“TT
■
Preferred,
9
PhU German A Nor rial 60
RaUways General
10
Susqueh Iron A Steel..5
Tidewater Steel
Preferred
Union Tr ot ind
44V
45 V
S3
88V
10
BB apref..60
gnitedTrao
N J Pitts
c.. 100
250
nit
Bidand
asked;
11
10
10
100
Warwick Iron A steel. 10
West Jersey A seaSh.60
Westmoreland UoaL...50
Wilkes Gas ec Elec..loo
123 V123 V
24 V 26 V
45
13
124
24V
24V
46 V
45 V
12 V
12V
...
.
.
49
J’ne’08
115
98 *2 Sale
86
.
98
84
Mar’09.
...
93*4
97 V 100
' 84*b 86
Apr’081.
HU Apr’08
,
104
Sale
102 *2 Aug’04
104
I04*ft!
102
Feb’09
lOOHi *»ep ’08
9
102*8 104*4
102
102
10. *4 Deo’09
97“ft 109*4
142*4
...
134*2 sale
134*8
102 Hi
101
Apr’09 ,
98 7s Sep ’091.
117 *8 Nov 09
105
Dec’08
134*3
86 134
.
...
101
101
...j| 987ft US7*
...'117*8
119*8
.
107*3 Nov»06*.
Mai*02
102
.
98*3 May’06
104*4 Jan’10
97
100
,
,
...
N*v’o9.
I027ft Dee'uy
0 1/4?
110*3 J’ne’09
Sale
106*3
100
102
102*4 103 *«
lo.^liOV
,
96
104
Apr'o?!,
96
160
06
16
(
Jan •10
11 l 95V 97
120
160
1104*4 Jan ’10.
lOOHi Apr M9
101*4 J ue’09:.
102*4 108*3
100*3 100*3
100*4 102*2
99
Not’OP.
99
100*2
100Hl G*t ’00 '.’I 99*8 100V
16 96
100*2
98*4
09
1 03 V 95 H
04V
04VI
,
99
Sal*
\ Flat price.
Daily, Weekly, Yearly
Mange for Teat
range tor Previous
1909
Year (1908)
(For Bonds and Inactive
sec
2^100*8 101*2
.
* No pnoe Friday; latest bid and asked.
ACTIVE STOCKS
Stocks
rgf
High
.
below)
Lowest
Baltimore
18 Con. Gas EL L. A Pow. 100 30
7
Do
100 76
pref....
178'Northern Central...... 60] 100
100 11*4
1,205 Seaboard (new).
500
Do
2d pref
100 22V
298 United By A Electric.. 60
9*4
86
123
122
25
24V
V
*45
46
*18
13V
27
♦47
27V
48
49V 60V
12v
•12
67V 68
20V 31
79
80V
•11
26
118
101
12
26 V
119
103
66Vs 66V
61
13V 14 V
25V 26
78V 78®ie
0*
6V
710 V 61V
02V 93
60*4
27
•47
49V
28
12
12
*27
47 V
40 V
48
60V
*12
68
30 V
67V 68V
30
81V
80
81
81
I
11V 11V1 *11
25
24V 26 V
118V HO I 118V
09 V
66 V
♦50V
14
25 V
101V1
lOi
67 V1
51 |
14 V
25 Vl
liV
53
’*8*4**
no sales on tills
11V
6b V
60
14
20V
77»is 78 V1
0V
6*4 <
60 V 61V
7b’ie
!
02 V
92 V
93
PillliA DELPHI A
Bonds
Prices are all ** and
interest
A1 Val E ext 7 s 1910 A-0
Alt ALVEleo 4 Vs’33.F-A
Am By a cony 5s 1911.J-D
Atl City 1st 6s g ’19.M-N
Lowest
Highest
Dee ’4
20
May 18
121V Dec iT,
28 V Dec 71
48
Deo 7
14 VDee 3
65
Mar 8] 48
Mar 16 89
Jan 4
Feb 25
Feb 24
Feb 3
80
4
10
10
tt
ighest
30
Deo
Mac 81V Deu
Jan 102 Deo
Jan
Fee
Feb
Jan
Id
26
12
DOO
Dec
Not
b Hi
51V
224 American Cement
50 26
Dec20 43
Jan 2
32V Mm 43 Deo
65 American Bail ways.... 60 44V J’ly e 48
Dec 3
42V Mat 46 V Not
60
32
49
13,370 Cambria Steel.......... 50
V Feb 23
V Dec 21 26 V Feb 40 VDee
12 V
Klectno Co of America 10 slo V Jan 20 12 *8 J’ly 14
8 V Jan
11V Deo
Jan JO 03VJ'lyi>O
58 V
Eleo Storage Battery..! 00 43
24 v Feb
47 h. Dec
83V 7.410 Gen Asphalt tr ctls ....100 15 V Jan 5 33 V Dec 30
3Hi Jan
iO V Dec
82
Do
3,y47
pref tr ctfs ....100 53 Jan 6 84VD6031' 19 V a an 69 V Deo
12
0 V Jan 2I i5
53 Keystone Telephone... 50
0
4V«an
Apr 19
May
25
3 V Feu
Deo
17
7,703 Lake superior Corp....lOo 14V Jan 6 33 V May 8
06
Jan
5
125
97
120V 1,081 Ltenighc ANavtrctls. 50
*8 Deo i t 78v Jan
V Deo
Feb 23 113
62
102V 30,624 Lehigh Valley
50 67
V F«b 76*4 Deo
sepjl}
67 ** 8,680 Pennsylvania BB
50 63*8 Feb24 75 V »Sep -9, 54*’16 Jan caVe i>eo
60
482 Philadelp’aCo(PiUso). 60 40 V Feb 24 5 i V Dec *J 34 V Alai
44V Deo
5 V Feb
14V 12,17 s Philadelphia Electric*. 25 11V Feb23 14 V Deo 221
12V Nov
20 V 6,408 Phila Bapid Transit... 60 24 V J an 5 36 V a pi 26. 612*8 J'ut 25 V Deo
Beading
60
79
60
V Feb 23 86v Sep 21] 48*18 Feb n**i6 Deo
6,872
6V 1,364 Tonopah Mining ......
6*4 Jau 10 7**18 Mar JO
1
9h* Apr
3^g Jan
61
z44 V J’ne 50 V Apr
50 60V Jan 5 68 V May
6,000 l* mon Traction
98V 7,680 United Gas lmpi
73V Jan U4V Dec
50 84 V May 13 05 VDee
27 V
47 V
s$8
................
Ask
Bid
100V
02
93
97 V
98
100
BergA EBrw 1st 6s’21 J-J
Betide Steel 6s 1908.U-F 116V 117
Choc A Me 1st 6s 1049 J -J
Ch Ok A G gen 5s ’19 J-J
Col St By 1st con 5s 1932
Con Trao of N J 1st 5s.’33
E A A 1st M 5s 1020 M-N
Elec A Peo Tr stk tr ctfs
Eq II Gas-L 1st g 5s 1028
Indianapolis By 4s. 1033
Interstate 4s 1043 ..F-A
Lehigh Nay 4Vs ’14.Q-J
.
11
♦
Shares
19C9
Philadelphia
PlilLADKLPULA
North
\ Week
♦84
27
27
•47 V 48 V
60V 60V
12
12
61
61
81
3l*V
82
82
•12
12V
61
Sales
of the
hang*
Tear
or
Last sale
ASK Lo-iv
1918 M-S
Philadelphia and Baltimore Stock Exchanges—Stock Record,
!
Week’s
Ranqe
99*4 Nov’00. ...if 00** 101
100 Hi!
100*9 100*4 100*4
117
Apr ’OS
97 Jan ’10 III''* 94** *9*7**
100
100
101
Sep ’OO.
117
118 |
6 116*4 120*4
117*18
*ft
93Hi
6i 90
04
93*2
98V
91
91
91
I
8 86V 92*2
103
Sale 103
108
10 103*4 104
113«ft Nov’08
101*4 Sep ’05
Union Pac BH A1 gr g 4s. 1947i J • J
20-year oonv 4s
1927, J.J
Unitea Fruit gens f 4 vs.1923 J-J
U S Coal A Oil 1st s f 68.. 1938 M-N
U 8 Steel Corp 10-60 yr 5s. 1963 M-N
West End Street By 4s....1915 F-A
Gold 4 His
1914 M-S
Gold debenture 4s
1916 M-N
Gold 4s
1917) F-A
Western Teleph A Tel 5s.1932 J - J
Wisconsm Cent 1st gen 4sl949! J * J
Note—Buyer pays aoorued Interest In addition to the purchase price for all Boston Bonds.
Share Price*—Not Per Centum Price*
Price
Friday
Jan 48
Ask Low
Am Telep A Tel
Fitcnburg 4s
-2
BOSTON STOCK HXCH’GE
week Ending Jan 28
Year
1909
cq^j
3
BONDS
Range
oSi
295
BBS 4s g
1914.<J-F
Gen M 4Vs g.l024.g-F
Leh V C 1st 6s g ’33..JJ
Leh V ext 4s 1st1948. J-D
2d 7s 1910
M-S
Consol 6s 1923
J-D
Annuity 6s.........J-D
Gen cons 4s 2003.M-N
Leh V Tran oon 4s ’35J-D
New Con Gas 5s 1948 J-D
Newark Pass con 5s 1930
N Y Ph A No 1st4s *30 J-J
Income 4s 1039...M-N
NoOluoTrae oonds’10.J-J
Penn gen 6s 1910... Var
Consol 58 1019
Var
Penn A Md Steel con 6s.
Pa A NY Can 6s ’39.A-0
Con 4s 1939
A-O
Penn Steel 1st 5s ’17 M-N
People’s Tr tr certs 4s ’43
P Co IstA col tr 5s’40 M-S
ConA col tr 6s 1951M-N
Phil Elec gold trust otfs.
Trust certifs 4s
P A E gen M 6 g *20. A-O
Gen M 4s g 1920..AAO
day. U Ex-rights.
|| $7.50 paid,
110
111
104V
104V
101*«
91
lo6
83
54
102 V
-
92
......
85
66
109 V
loov
101V 10iV
PHILADELPHIA
Ph A Bead 2d 5s ’33.A-0
Con M 7s 1911
J-D
Ex Imp M 4s g ’47.A-O
Terminal 5s g 1941.U-F
P W A B col tr 4s ’21.J-J
Portland By 1st 6s 1930.
Koch RyA Leon 5s’54J-J
Spanish-Am Ir 6s ’27 J-J
U Trao ind gen 5s’10.J-J
Un Bys Tr otfs 4s’49J AJ
United Bys Inv 1st coll tr
Sf OS 1926
M-N
U Trao Pit gen 6s ’97 J-J
Welsbach at da 1930.J-D
Wlka-B GAE con5s’55J-J
BALTLUOitK
Inactive Stocks
Ala Cons CoalA iron. 100
Pref
100
Atlanta A Charlotte.. 100
Atlan Coast L (Conn) 100
Canton Co
100
Cons Cot Duck Corp...60
Prelerred
50
119
140
149 V
96 V 96*4
Georgia Sou A Fla... 100
1st pref
100
2d pref
100
G-B-S Brewing
100
103
Bonds
Prices are all “ and
interest.”
Anacostia A Pot 5s
Atl A Ch ext 4 Vs ’10. J J
Atlan C L KB4si962M-S
Atl Coast L(Ct)ctfs 5s J-D
Ctfs of indebt 4s....J-J
6-20 yr 4s 1925
J-J
Balt CPass 1st 5s ’ll M-N
Balt Fumlg 58.1016 M-N
00 V
loov
I16
10IV
06V
Exchange 3 Vs 1030 J -J
105V
98
98V
101
loiv
75
75 V
108 V
101
Balt A P 1st 6s m 1 ’ll A-O
B S P A O ist4 His ’53F-A
Balt Trao 1st 5s..’29 M-N
No Balt Div 5s 1042 J-D
Cent’l By con5sl932 M-N
Ext A Imp 58.1032 M-S
t $12 V paid. * $13 V paid. $ $35 paid,
Bid
| Ask
BALTIMORE
;
Chas City By 1st
Ask
Bia
5s’23 J -J
105
103V 104
rnwm
•
♦*••••
118
.
..
LOOV
)ist5s’4S
5s’20 F-A
90 V1 100 v
102 V
93
101
107
105
101 v
107
loov
......
84 V
106
85 V
1< »5
102
58
...1930 J-D
78*4
i 10
104
85
1U4H
113V
’22 J-J
llOV
lu6
iuBsi
86
loiv lu2 V
41 Hi
2d
income
6s 1051 M-N
42 V
12
10
iU4
105
10/
95
0J V 100V
108
109
75V 75 V
75
262 V 275
106
6
20
04
75
IV
7*
105
i02
24
Series A 5s 1926....J-J
Senes B 6s 1926....J-J
96
80 V
2V
Pitt Un Trac 5s 1997.J-J
Poto Val 1st 5s 1941..J-J
Say Fla A West 5s ’34 A-o
Seaboard A L 4s 1950 A-O
Scab A Roan 5s 1926. J -J
South Bouud 1st 5s..A-O
U El LAP 1st 4 Vs’2tf M-N
102V 103
••••••
95
Uu By A El 1st 4s ’40 M-S
Income 4s 1949
J-D
95*4
102 V
05
90
lU0*4
104
106
00V 07
loiv
us v
108-4
113
107
106
a
Funding 6sl9J0...J-D
j
92
94
110
113
Va Mid 2d set Os ’li.M-s
3d senes 6s 1916..M-S
4th ser 3-4-os 1921.M-S
6tll senes 6s 1926.M-fe
Va (State) 3s new ’32.J -J
Fund debt 2-3s 1991.J -J
V1
j W est N C cou 6s 1914 J -J
V WesVa CA P 1st 6g’l 1 J-J
1 WU A Weld 5S..1935M-J
ib*7*”
112 V
112-8
io7
il»5
100
•.....
83 V 83*4
L06
10D
10 7
92
93
80*4 87
5 J *4 59 V
83 V 84
109
107
100
lO/
99
09
100
101
110
.
^
91
91V
106 V
101*4
113
1
Receipts, b $25 paid,
c $30
paid. <Z$i2V paid.
THE CHRONICLE
*f‘
k
•
>
K
Volume ot Business at Stock Exchanges
Electric Companies
Bid Ask
Bid
Ask
Industrial and Miscel.
Chic Edison Co—See Chi cago list
2
Consol Rubber Tire.. 100
3
Gr*t West Pow 5s *46.J-J
93
96
Preferred
20
15
100
9 Kings Co El L&P Co 100
TRANSACTIONS AT THE NEW YORK STOCK EXCHANQE
130
133
Debenture 4s 1951 .A-O
35
38
Narragan (Prov) El Co. 50 * 92
94
Con Steamship Lines—
DAILY, WEEKLY AND YEARLY,
NY&Q El L &Pow Co 100
55
65
Coll tr 4s 1957 rets. .J-J
21
23
Preferred
77
82
.....100
Corn Prod Ref—See stock Exc .1st
United Elec of N J
su 7cks.
100
e Crucible Steel....
Railroad,
75
100
157« 16
Week ending
1st g 4s 1949
State
V.S.
J-D
e Preferred
79*2 80*2
.100
88*S 8878
Jan. 28 1910.
Western Power com. 100
Shares.
Par value.
Bonds.
Bonds.
Bonds.
e
106
Diamond
Match Co. 100
108
36*2 37*2
Preferred
100
56*2 57*2 duPont (El) deNemPo 100 133
137
Saturday
571,848 $54,652,300
$151,000
$1,628,000
9 Preferred
85
100
86*2
Monday ........
1,019,980
93,401,000
2,037,000
145,000
legraph and Telephone
e Gold 4Hs 1936...J-D
87*2 88
9 Amer Tel eg & Cable. 100
Tuesday....—...... 1,625,487 149,636,200
4,547,000
208,000
70
77
Econ’y Lt & P (Joliet, IU)
9 Central & So Amer..100
Wednesday
900,080
3.187.500
205,000
119
120
82,064,500
1st M s f g 5s 1956.J-D
98
95
Comm’l Un Tel (N Y). 25 108 116
Thursday
1.123,315 100.414.300
312,000
3.410.500
Electric Boat
25
28
...100
Friday
809,356
68,909,600
2,716,500
$£566 Emp & Bay State Tel.100 65
56,000
Preferred
65
100
70
Franklin
100
45
7
10
Empire Steel
.100
Total
6,050,066 $549,077,900 $17,526,500 $1,077,000
$2,000 a Gold 4s Stock Teleg.100 105
Preferred
80
90
100
NY 4> NJ Teleph—See Stk Exc list
* General
Chemical
S 99*2
100
9 Northwestern
e Preferred
Teleg. 50 105
Sales at
100 103*8 105 •
Week ending Jan. 28.
Jan. 1 to Jan. 28.
Pacific 4> Atlantic.,
25
65
Goldfield Consol Mines. 10
70
New York Stock
*7*2
7*4
aPaoTelep 4» Teleg pf.100 90
98
Gold HU1 Copper
*1*8
1910.
Exchange.
1909.
1
1910.
1909.
1*4
Southern 4s Atlantic.. 25
90
98
Greene-Cananea
20
*97g 10*8
Stocks—No. shares
Guggenheim Kxplor'n 100 225 250
6,050,066
3,126,060
23,207,208
16,853,038
e Hackensack
Par value
water Co
$549,077,900 $295,746,000 $2,135,101,175 $1,570,023,625 B & Ferry Companies
N Y 1st 6s 1911. J-J
94
96
Ref g 4s *52 op *12..J-J
Bank shares, par.....
87*2 90
$1,900
$2,000
$46,800
$4,500 N Y 4s E R
35
30
HaU Signal Co com..100
45
Ferry stk.100
50
Bonds.
1st 5s
GO
65
Havana Tobacco Co..100
6
8
Govern" * \; bonds...
2,000
$34,500
$37,000 NYdsHob1922.......M-N
5s
97
May '46.J-D
Preferred
10
100
State boaa3
20
$1,077,000
$522,500
3,744,000
2.826,500
Hob
1st
Fy
5s
1946
M-N 105': *07
1st g 5s June 1 *22.J-D
60
65
RR. ani raise, bonds.
17.526.500
37,996.000
132,391,000 N Y 4s N J 5S
78.676.500
1946
100
97
J-J
Hecker-Jones-Jewell MUl
10th
4s
23d
Sts
4v
6s
1st
1922
105
Ferry.100
M-S
107
Total bonds
$18,605,500 $38,518,500
$32,455,000
$135,254,500
1st mtge 5s 1919..J-D
67
72
30
40
Her*g-Hall-Mar, new.100
a Union Ferry stock
DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
32
36
100
Hoboken Land & Imp 100
a
1st
5s
1920
95
e 5s 1910
M-N
99
EXCHANGES.
M-N
99?s
Houston Oil
100
74i 77*
Short-Term Notes
Preferred
100
38*2 39
Boston.
Philadelphia.
Am Clg ser A 4s T1..M S
Hudson Realty
100
98*s
110
984|
100
Week ending
Ser B 4s Mch 15 *12 M-S
90
96*4 97*2 e Ingersoll-Rand com.100
Jan. 28 1910.
Listed
Unlisted
Bond
Listed
Unlisted
Bond
Atlan Coast L 5s *10.M-S 100
a Preferred
95
100*8
100
sharer.
shares.
sales.
shares.
shares.
sales.
Bethleh Steel 6s '14..M-N
Internat’l Bank'g Co. 100 120
99*4 100
130
an Ham & D 4s 1913. J-J
97
Internat*!
Mer
tk
Ex list
97*2
Mar—See S
Saturday
29,274
22.860
$33,000
17,298
10,422
$34,100 C C C 4s St L 5s, June '11 100*2 101
International Nickel..100 145
155
Monday
l.
44,093
36,743
95,000
21,002
16,598
72.600 Erie 6s, Apr 8 1911..A-O
Preferred
89
100
92
Tuesday
57,630
62,961
18,031
73,000
38,887
98,000 Interb R T g 6s 1911.M-N 102*4 103*2
1st g 5s 1932
92
A-O
94
Wednesday
37,966
49,475
110,500
23,221
11,801
47,500 K C Ry4cLight 6s '12.M-S
96
5
97*2 International Sait
100
8
Thursday
37,396
53,862
55,000
19,155
14,462
22,700 Lack Steel 5s g 1910.M-S
99
1st
100*8
45
g 5s 1951
A-O t 35
Friday
31,592
24,783
59,000
19<489
10,438
48,000 Lake Sh & M So 5s *10 F-A
International
100*8
30
9978
Silver.. 100
Mich Cent 5s 1910.._F-A
Preferred
98 ‘ 103
9978 100*8
.100
Total
237,951
250,684
$425,500
139.052
81,752
$322,900 Minn 4s St L g 5s *11. F-A
1st 6s 1948
99*8 9934
J-D 110
N Y Cent 5s 1910
F-A
9978 100*8 Internat Smelt & Refg 100 125 140 ”
N Y C Lines Eqp 5s *10-27 54.40 4.20 Internat Time Record. 100
75
N Y N H 4s H 5s *10-'12 100
102
Preferred
98
102
...100
Norf 4c West 5s 1910.M-N 100
100*8 Jones & LaughUn Steel Co
All bond prices are now “and interest" except where marked “f.”
Pa RR 5s Mch 15 '10.M-S 100
1st s f g 5s 1939..M-N 101
100*8
10U2
St L 4c San Frg 5s *11. J-J
99
99*2 Lackawanna Steel... 100
48*2 51
4 H%g notes'12op. F-A
Lanst Monot'pe (new) 100
90
95*2
96*2
91
Street Railways
Bid
Ask
Street Railways
Bid
Ask South Ry g 5s 1910._F-A
997s 100*8 Lawyers' Mtge Co
100 258 265
New York City
Pub Serv Corp N J (Con)
Tidewater 6s, 1913 guar 101*4 101*4 e Leh & Wilkes-B Coal 50 200
Bleeck St & Fui F stk.100
18
30
Cons Tract of N J..100
76
77
WestTelep 4cT 5s *12.F-A
99% 99*4 e Lorillard (P) pref
100 130
a 1st mtge 4s 1950.J-J
60
70
1st 5s 1933
J-D 10412 10512 Westingh’e E14cM 6s 1910 100*8 101
Madison Sq Garden.. 100
50
e B'y & 7th Ave stk
57**
100 130 140
New’k PasRy 5s '30 J-J 107
IOSI2
2d 6s 1919.
85
M-N
100
eZd mtge 5s 1914..J-J
99*2 101
Rapid Tran St Ry 100 240 250
Manhattan Transit
Railroad
20
2
♦178
Con 5s 1943—See Stock Exc Ust
1st 5s 1921
A-O 106
a Chic Gt Wcom tr ctfs) See Stock
Exc Monongahela R Coal
50
*9*4 10*8
B’way Surf 1st 5s gu 1924 102 106
J C Hob & Paterson—
a Preferred tr ctfs.. j
Preferred
Ust
50
J
*2414 24*4
6 Cent’t Crosst’n stk__100
4s
g 1949
M-N
77
78
Chic Peo & St L—
Mortgage Bond Co
115
100 110
e 1st mtge 6s 1922.M-N t 80*
95”
So J Gas El & Trac-100 142
145
Prior Hen g4 Hs’30. M-S t 89
Nat
of
91
Bank
98
Cuba..-.100
102
e Cen Pk N & E R stk_100
30
50
Gu g 5s 1953...M-S
99
100
Con mtg g 5s 1930..J-J 1 53
60
Nat'l Surety
100 232
240
e Chr’t’r & 10th St stk 100
80
90
No Hud Co Ry 6s'14 J-J 102
Income 5s, July 1930.. /
5
Nevada Cons’d Copper
5 ♦233s 23*s
Exc list
5S 1928
J-J 103 105
4
Nev-Utah
Min
Chicago Subway
& Sm_ 10
100
4*4
*1*4
Ms
ry D E B & B—
Ext 5s 1924
M-N
99
101
Ft W & Den Cy std__100
e New Central Coal
30
20
97*2 102
60
e 1st gold 5s 1932. J-D
Pat City con 6s '31. J-D 115
97*2 100
v
Kansas aty Sou 5s Apr 1
NY
Air
Brake
Exc
6s—See
Stk
1st
e Scrip 5s 1914
F-A 1 45
2d 6s opt 1914..A-O 100
50
1950—See Stock Exch ange Ust
N Y Biscuit 6s 1911.M-S /100
Eighth Avenue stock. 100 250 300
So Side El (Chic)—See Ch icago list
Nat Rys of Mexico—Sea S t EXC list
eNew York Dock
35
100
37*
a Scrip
6s 1914...F-A / 95 100
Syracuse R T 5s ’46..M-S 103 105
North’n Securities Stubs. 110
112
e Preferred
82
100
83*2
a 42d & Gr St F’y stk.100
220
200
Trent P & H 5s 1943.J-D
95
Pitts Bess 4c L E
50 *30
N Y Mtge & Security. 100 225
36
235
42d St M & St N Ave. 100
United Rys of St L—
Preferred
N Y Transportation.. 20
50 ♦70
75
*5
7
; a 1st mtge 6s 1910.M-S
Com vot tr ctfs
99*2 100*4
100
19
20
a Railroad Securities Co—
Nlles-Bem-Pond com. 100
98
102 ‘
2d income 6s 1915.J-J ; 50
a Preferred
100
69L 6912
Ill C stk tr ctfs ser A' 52
90
Mines
5
Ninlssing
lu*8
Inter-Met—See Stk Exch ange Ust
10*4
Gen 4s 1934—See Stock Exc list
Seaboard Company—
e Ontario Silver
.100
3
2*4
Lex Av & PavF 5s See Stk Exc list
UnitRys San Fran See Stk Exc list
1st preferred.
80
77
Otis Elevator com....100
53
.100
55
Metro pol St Ry—See Stk Exc list
Wash Ry & El Co_.
100
39
40
Com 4c 2d pref—See Bal t Exc list
Preferred
95
100
100
Ninth Avenue stock
100 160
170
Preferred
100
Seaboard Air Line—
87*2 89
Pittsburgh Brewing.. 50 ♦23*2 23*4
Second Avenue stock. 100
14
18
4s 1951
J-D
Coll 5s ext May 'll.M-S
8712
*
86I4
100
Preferred
l
50
9912
a 1st M 5s’09 ext *10 M-N
42*2
96
100
West Pac 1st 5s '33..M-S
97*8 97 Sg Pittsburgh Coal—See Stk Exc list
Consol 5s 1948....F-A / 60
65
Gas Securities
Pope MfgCocom..
100
75
80
Sixth Avenue stock
100 108
118
Industrial and Miscel.
84
Preferred..-.
100
88
Sou Boulev 5s 1945
J-J
60
85
New York
Adams Exp g 4s 1947 J-D / 92*4 9312 Pratt &
Whitney pref. 100 100 105
So Fer 1st 5s 1919.._ A-O
88
92
Cent Un Gas 5s 1927 _J-J 100
101U Ahmeek Mining
210
Producers
Oil
25
*200
100
145
155
Third Avenue—See Stock Exc list
Con Gas (N Y)—See Stk Exc list
Alliance Realty
100 117*2 122*2 Realty Assoc (Bkiyn).lOO 130
135
Tarry W P & M 5s 1928 / 50
80
a Mutual Gas
100 148
160
American Book...... 100 150
160
Royal Bak Powd corn. 100 168 175
YkersStRR5s 1946 A-O
85
95
New Amsterdam Gas—
American Brass
100 117
121
Preferred
100 108
112
28th & 29th Sts 5s ’96 A-O / 10
20
1st consol 5s 1948..J-J
99i2 100*4 American Chicle com.100 225 230
Safety Car Heat ds Lt.100 127 132
a Twenty-third St stk.100
220
200
NY&ERGas 1st 5s '44 J-J 103
106
Preferred
__100 105
108
1
Seneca
Mining..
25
Union Ry 1st 5s 1943.F-A 100*4 101*2
Consol 5s 1945
J-J
97, 100
Am Graphophone com 100
Singer Mfg Co
100 575
600
Westcnest 1st 5s '43 J-J
60
75
N Y & Richmond Gas. 100
32
42
Preferred
...100
33
35
South Iron & S com
100
20*2 22
NY &WestchesterL’ht’g—
Amer Hardware
100 140
145
Preferred
100
48
51 1
Brooklyn
Deb g 5s 1954 guar.J-J 101
1031? Am Malting 6s 1914..J-D 102
104
Standard Cordage....100
Atlan Avenue RR—
*2
MS
Nor Un 1st 5s 1927..M-N
97
100
Amer Press Assoc’n__100
90
100
1st
M
20
g 5s '31 red.A-O
23
Con 5s g 1931
A-O
98
101
a Standard Gas com. .100
Am St Found new—See S tk Ex Ust
M
Adjust
5s
Apr 1 1931 f 3
BB&WE5S 1933..A-0
100
344
97
a Preferred
100 «65
80
6s 1935
A-O 104 106
Standard Coupler com 100
20
30
Brooklyn City Stock 10 195 198
1st 5s 1930
M-N 102
106
Deb 4s 1923
F-A
7512 76*2
Preferred
100 100
Con 5s—See Stk Exch ange list
American Surety
50 225 235
Standard MlUlng Co.. 100
18
Bkln Hgts 1st 5s 1941 A-O
1*9*4
97
102
Other Cities
American Thread pref
5
Preferred
*434
5*4
56
100
Bkln Queens Co & Sub—
58 ,
Am Gas & Elec com.
50 *4312 44i2 Am Tobacco Co com.. 100 390
405
1st
5s
1930
83
M-N
a 1st g 5s ’41 op ’16.J-J
87
98
Preferred
1001?
50 *24 212 4312 Amer Typefders com .100
47
50
Standard OU of N J..100 640
645
Con guar 5s—See Stock Exc Ust
Amer Light & Tract. .100 282 288
Preferred
100
98
102
& Co—See Bost Stk Exc list
Swift
Bklyn Rap Tran—See Stk Exc Ust
Preferred
100 104*2 107
Deb g 6s 1939
99
100
M-N
1st 5s—See Chic St .ck Exc list
Coney Isl & Bklyn. .100
65
75
Bay State Gas
50
1?
3, Amer Writing Paper_-100
2*2
3*2 Texas Company
1st cons g 4s 1948..J-J
100 205 215
78
82
Bingh’ton (N Y) Gas Wks
Preferred
100
26
e
Texas
<5c Pacific Coal 100
2312
Con g 4s 1955
J-J
85
10334
75
1st g 5s 1938
_A-0
100
1st
s f g 5s *19 op '09 J-J
86
88
Title
Ins
N
Co
of
Y—100 160 ‘ 167*2
Brk C & N 5s 1939.J-J
95
100
Brooklyn Un Gas—SeaStk Exc list
AtlGf &WlndSSLlnes. 100
10
11
Tonopah
Min
(Nevada)
1?8
Gr’p’t&LorSt 1st 6S..M-N
2*8
Buffalo City Gas stk..100
4
6
Preferred
24
100
4
26*2 Trenton Potteries com 100
8
Kings C El 4s—See Stock Exc Ust
1st 5s 1947—See Stock Exc list
Col tr g 5s 1959
/ 17
J-J
69*2
55
Preferred,
new..
100
Nassau Elec pref
65
100
Con Gas of N J 5s '36.J-J
92
95
35
*40
Trow Directory
Barney 4c Smith Car.. 100
27
5s 1944
A-O 103
100
104*; Consumers’ L H & Pow—
Preferred
100 107
115
Union Typewriter com 100
58
61*
1st 4s 1951—See Stock Exc list
5s 1938
J-D 110
tk
Bethl'm
Steel
Ex
Ust
Corp—See
S
1st
N W’bg & Flat 1st ex 4 Hs
preferred
100 110
115
90
95
Denver Gas & Elec
100 148
153
Bliss
135
140
Company
com..
50
2d
112
preferred
100
115
Steinway 1st 6s 1922..J-J 102 105
Gen g 5s 1949 op.M-N
94
Preferred
9o*2
50 132
137
United Bk Note Corp. 50 *49
52
Elizabeth Gas Lt Co..100 300
Bond 4c Mtge Guar
100 270
280
Preferred
50
*52
Other Cities
51
Essex & Hudson Gem. 100 147
150
Borden’s
Cond
Milk..
100
117
119
United agar Mfrs
100
Buffalo Street Ry—
87*2 89
Gas & El Bergen Co. .100
80
83
Preferred
104
106
....100
e
Preferred
100 109
1st consol 5s 1931 __F-A 104
111
107
e Gr Rap 1st 5s *15. F-A
100
101
British Col Copper
5
7*8 United Copper
Deb 6s 1917
100
A-O 104
7*4
108
7*2
Hudson Co Gas
100 145
148
g
15
Preferred
♦26*4
26*4
100
21
Columbus (O) St Ry_.100
30
99
Indiana Lighting Co..100
31
33
2
.100
3
U S Casualty
215
Preferred
100
100
4s 1958 op
10434
F-A / 68
70
Preferred
100
60
70
U S Envelope com
59
Colum Ry con 5s—See Phi la Ust
100
55*
Indianapolis Gas
50
18
25
Casualty Co of Amer. .100 125 140
Preferred
Crosst’wn 1st 5s '33 J-D
100 113
116
106
1st g 5s 1952
A-O
80
90
100
130
131
U
S
a Conn Ry & Ltg com. 100
Finishing
100 140
150
76*2 78
Jackson Gas 5s g '37.A-O / 88
9212 Cent Fireworks com...100
n5
7
Preferred
a Preferred
100 113
100
116
82
85
a Laclede Gas
100 10558 1057*
Preferred
100 n53
60
1st
1st & ref 4 Hs—See Stk Exc Ust
g
5s
1919
190
J-J
105
e Preferred
..100
90
100
1
100
Con g 5s 192 9
Grand Rapids Ry
1*2
95
J-J
10^ 122
100
Madison Gets 6s 1926. A-O 103
108
Preferred
100
8
12
(J S Steel Corporation—
Preferred
100
92
Newark Gas 6s 1944..Q-J 130
132
M-N
68
72
a Lou is v St 5s 1930...J-J
Col tr s f 5s '51 opt '11 114
106
116
107
Newark Consol Gas. .100
99
101
.100 600
700
Col tr s f 5s '51 not opt 114
Lynn & Bos 1st 5s *24 J-D 105 107
116
a Con g 5s
1948...J-D 105*? 1061*
.100
65
U
79
S
Tit
eNew Orl Rys & Lgt.100
&
Gu
Indem__100
28
60
29
No Hudson L H & Pow—
Preferred
100
99
102
eUtah
a Preferred
100
liXC
Copper CO—Sec Stk
62*? 63
list
5s 1938..
A-O 110
e Claflln (H B)
com. .100
110
118
Gen M g 4 Hs '35—See S tk Ex list Pacific Gas &
Waterbu y Co com...100
E, com.100
51
52
.100
95*4 96*4
Pub Serv Corp of N J.100 120
Preferred
100
122
Preferred
100
87
89
1
.100
94
Trctfs 2% to 6%perpet 104*2 105*r Pat & Pas Gas &
Westchester & Bronx Tit
Elec. 100
95
98
f
100
&
^
North Jersey St Ry.100
50
Mtge Guar
100 164
163
a Con g 5s 1949...M-S
100
102
1st g 5s 1917.
..J-J
1st 4s 1948
M-N
78
80
St Joseph Gas 5s 1937.J-J
Westlngh’se Air Brake. 50 *143
93*2 96
..J-J
West El & Mfg 5s—-SeeStk Exc list'
28
.100
30
Worthing Pump pref. 100 100 110
'.109
•
Per share
a Ex-rights.
tt> Basic. 1 Sells on Stk. Ex out not very active. 1 Flat price. n Norn, s Sale
price, x Ex-div.
y Ex-rights.
t New stock
...
..........
........
'
_
n
_
_
„
.
....
-
Outside Securities
.
,
....
.
....
gjl & 9th Ave 5s See Stock
_
....
“j
.
_
,
„
....
_.
^
m
*
.....
...
'
m_
_
r_
—
,
....
JAN. 29
THE CHRONICLE
1910.]
397
%nvzstmmt and Railroad Intelligence.
RAILROAD
The
GROSS
EARNIISGS.
following table shows the
gross earnings of every STEAM railroad from which regular'weekly or monthly returns
The first two columns of figures give the gross earnings for the latest week or month, and the last tw)
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
be obtained.
can
The
period.
of the electric railways
returns
Latest Gross Earnings.
ROADS.
Ala N O & Tex Pao
N O A N East__r
Ala A Vicksb
r
Vicks Shr & Pac.r
Ala Tenn A North.
k Atch Top A S Fe_
.
Atlanta Blrm & Atl
Atlantic Coast Line
^Baltimore A Ohio.
Bangor A Aroostook
Bellefonte Central
Boston A Alains
__
r
Bridgeton & Saco R
Buff Roch A Pltts.r
Buffalo & Susq___r
Canadian Northern.
Canadian Pacific
Central ol Georgia.
Central of New oer.
Central Vermont
r
Current
Previous
Month.
Year.
Year.
292,773
305,169
160,544
145,673
Dul
<5c
Iron
Range.i
Dul Sou Shore A Atl
El Paso & Sou W
Erie
Fairchild A Nor E.
Fonda Johns A Glov
Georgia Railroad
Georgia South A Fla
Grand Trunk Syst.
Gr Trunk West
Det Gr Hav & Mil
Canada AtlanticGreat Northern Syst
Gulf & Ship Island.
__
Hocking Valley
Illinois
Central..__
Internat A Gt Nor.
a Interoceanic Mex_
Iowa Central
Kanawha & Alien.
Kansas City South.
K C Mex & Orient
_
Lehigh Valley
Lexington A East..
Long Island
Louisiana &Arkan.
Lou Hend & St L..r
s Louisv A Nashv..
Macon A Birm'ham
Maine Centra’
r
Manist’que
Maryland A Penna.
a
a
a
Current
Year.
Previous
Year.
160,751
139.948
December
November.
December..
2d wk Jan
November.
December
November.
December
November.
November.
3d wk Jan
November.
3d wk Jan
3d wk Jan
3d wk Jan
N ovember.
November.
7,246
8,389,776
48,230
2,746,202
6,836,787
244,683
7,989
3,746,625
3,424
168,118
201,186
185,100
1,377,000
217,600
2,450,186
323,147
1,673
560,966
251,903
7,952,241
887,517
92,693
1,714,617
1,530,815
873,518
753,594
31,337
813,678
725,109
25,797
6,464
8,168,079
39,177
2,247,222
6,205,632
227,404
5,718
3,238,298
3,077
122,991
191,278
115,900
1,039,000
222,000
2,238,919
283,959
.
Mexican Internat. 3d wk Jan
Mexican Railway. 1st wk Jan
Mexican Southern 4th wk Dec
Michigan Central—
52,897,541 47,283,005
1,384,127 1,088,910
11,080,800 9,690,508
44,070,620 39,147,007
1,195,234 1,180,512
36,134
37,159
19,319,827 17,283,373
22,604
23,455
5,159,486 4,101,271
1,085,59 2
964,455
7,335,100 6,013,500
53,856,753 43,740,783
6,934,951 6,585,106
11,632,545 10,944,032
1,693,612 1,556,781
1,535
43,874
47,705
483,875 17,206,035 14,873,969
245,267 7,666,889 7,164,338
3,632,676 38,849,136 34,860,273
943,570 5,930,968
84,529 3,309,297 2,99l’,578
York Cen tral.
5,956,752 5,129,361 29,567,441 27,573,907
1,044,788
6,586,632 5,654,874 33,824,726 30,098,782
1,102,151 1,150,351 7,790,841 7,137,739
111,867
101,479
514,726
484,503
743,159
€59,829 4,977,942 4,249,865
November.
67,054
November.
17,991
November.
40,86.
November.
166,44c
November. 1,838,466
November. 3,232,5Ct
3d wk Jan
395,300
2d wk Jan
16,642
2d wk Jan
25,824
2d wk Jan
39,940
3d wk Jan
21,529
November.
852,56V
3d wk Jan
49,199
Tovember.
633,682
November. 4,976,993
December..
2,084
December..
64,841
November.
285,735
—See S’out hern Rail
3d wk Jan
764,825
2d wk Jan
104,668
2d wk Jan
37,638
2d wk Jan
31,019
December.. 3,704,799
December..
187,082
November.
690,909
December
5,238,646
3d wk Jan
147,000
3d wk Jan
159,222
3d wk Jan
55,741
N ovember.
248,030
December..
801.949
1st wk Jar:
30.517
December.. 3,022,795
November.
36,15/
November.
Inc 138,
November.
103,997
November.
100,072
3d wk Jan 1,039,125
Decern he c
13,148
November.
755,177
November.
3,143
November.
33,66'
59,424
7,335
27,756
117,210
1,634,274
3,058,999
358.800
9,044
24,630
34,730
20,729
596,4 ).
47,6021
626,123
4,283,941
1,608
56,325
245,060
1,122,72C 1,034,464
9.557.962 8,927,548
91,786
91,657
341,152
354,121
29,255
74,635
194,179
129,959
673,261
807,683
8,542,503 8,045,677
15,489,777 14,442,806
13,391,246 11,960,267
436,260
585,948
885,767
922,919
1,024,655
998,801
660,590
619,000
6,336,973 4,596,167
1,859,534 1,528,523
2,962,257 2,784,206
23,871,534 22,075,210
10,103
11,798
397,382
452,698
1,298,539 1,232,760
way.
624,750 25,011,802
94,176 3,269,727
31,789 1,121,354
26,046 1,166,656
4,125,55o .4,783,420
181,263 1,086,713
560,601 3,353,991
5,211,186 ;0,988,423
144,000 4.924.963
147,031 3,813,039
58,479 1,898,828
197,172 1,185,156
734,550 4,668,746
27,182
916,956
2,605,388 18,237,719
23,536
187,549
485
Inc 637,
85,052
536,818
78,398
496.916
873,505 28,843,334
12,678
77,438
654,307 4,037,329
3,907
16,721
29,622
182,675
186,126
140,455 4,655,105
139,900
117,600 4,008,000
37,587
36,755
642,326
22,761,821
3,045,262
967,498
1,050,104
20,795,467
939,953
3,016,052
29,242,829
4,765,326
3,561,611
1,687,943
1,044,017
4,482,637
622,175
17,021,729
164,818
467,595
430,500
26,006,586
74,126
3,722,982
22,855
170,265
3,793,426
3,562,100
C20.723
See New b ork Cenir al.
2d wk Jan
458,748
16,147
15,078
471,081
3d wk Jan
69,133 2,884,640 2,482,960
71,176
Minn St P & S S M] 3d wk Jan
382,739
316,852 13,903,687 11,833,465
Mineral Range
Chicago Divisionj
78,818
273,589
57,445
356,852
Missouri Kan & Tex December.. 2,298,254 2,208,876 14,156,840 13,792,369
Mo Pac A Iron iut\
Central Branch./
b Mobile Jack & K c
Nashv Chatt & St L
a Nat Rys of Mexico
3d wk Jan
Wk Jan 8
051,000
November.
3d
N evada-Cal-Oregou. 2d
wk
wk
Jan
Jan
Nevada Centra.
November.
N O Great Northern December..
32,843
989^,554
958,114
6,175
7,573
117,492
850,000 29,681,354 26,387,810
829,817
32,457
863,660
930,238 4,780,180 4,633,757
916,944 >6.755,201 25,627,951
213,732
4,217
277,545
35,237
7,202
32.888
218,691
45,808
548,148
AGGREGATES
Weekly Summaries.
2d
3d
4th
1st
2d
3d
4th
1st
2d
Id
week
week
week
week
week
week
week
week
week
week
Nov (45
Nov (44
Nov (42
Dec
(43
Deo
(41
Dec
(40
Deo (42
Jan
(42
Jan
Jan
GROSS
Cur’nt Year Prev’s Year Inc. or Dec.
roads)....
roads)
OF
____
roads).
roads)____
...
roads)....
roads)....
roads)....
roaas)
(43 roads)....
(32 roads)....
$
13,450,158
13,003,412
16.900,874
12,059,588
11,688,160
12,089,781
17,522,287
9,906,861
10,675,438
10,649,624
11,691,325
11,852,248
13,971,227
11,032,034
11,142,346
11,258,272
15,948,781
9,159,802
9,503,200
9,241,687
page.
Latest Gross Earnings.
N Y C A Hud Riv.
Lake Shore & M S
n Lake E & West
Chic Ind A South
Michigan Central.
Cleve C C & St L.
Peoria & Eastern
Cincinnati North.
Pitts & Lake Erie
Rutland
N 3l Chic'A St L_
Total ail lines
N Y Ont & Western
N Y N H & Hartf.r
N Y Susq A West..
Norfolk & South
r
Norfolk & Western.
Nortnern Central
Northern Pacific. _r
Pacific Coast Co
Pennsylvania Co__r
d Penn—E of P A E
d West of P & E_
Pere Marquette
Phlla Balt A Wash.
Pitts Cin Ch & St L.
Week or
Month.
Current
November.
November.
November.
November.
November.
November.
Nove t.ber
November.
November.
November.
November.
November.
November.
November
November.
November.
November.
November.
July 1 to Latest Date.
Current
Previous
Year.
Previous
Year.
Year.
Year.
8,520,957
4,092,946
471,548
326,253
2,526,762
2,584,504
280,743
106,336
1,622,722
287,916
908,126
7,434,521
3,362,837
370,275
245,518
2,118,326
2,148,948
241,645
88,875
965,533
241,699
790,547
42,585,638
20,886,419
2,381,438
1,4-70,695
12,480,048
12,711,101
1,407,062
557,162
7,676,512
1,491,677
4,446,398
38,345,385
17,709,044
2,021,298
1,125.585
10,791,881
11,188,620
1,216,041
497,074
5,369,850
1,309,613
3,839,083
93,413,474
3,705,237
23,295,705
1,297,296
940,871
12,323,597
4,978,114
32,004,574
2,877,809
18,469,368
60,010,024
9,700
7,226,289
7,050,135
13,944,794
63,146
21728813 18008724 108094145
677,327
5,161,870
307,807
228,606
2,990,353
1,158,437
6,690,435
624,686
4,611,180
266,169
195,490
2,411,208
1,004,532
November
6,418,35.
November.
638.146
489,892
November. 4,742,466 3,436,074
November. 14467717 12199 817
Inc 1,94 7,300
November.
December.. 1,326,491 1,127,991
November. 1,509,459 1,387,151
December.. 2,774,370 2,221,90-.
Raleigh A Southp’t. December..
14,236
11,854
Reading Company.
Phila A Reading. December.. 3,936,286 3.744,102
Coal & Iron Co
December.. 3,497,748 3,471,324
Total both cos
December.. 7,434,034 7,215,426
Rich Fred & Potom November
178,927
151,226
Rio Grande June
October
112,708
82,504
Rio Grande South
3d wk Jan
10,664
9,726
Rock Island System November. 3,073,966 5,107,207
St Jos & Gr Island. November.
137,839
131,940
St L & San Fran
November 3,' 92,528 3,332,11V
Chic A East I1L. November. 1,972,51
920,78'’
f Evansv A Ter H November.
224,21.
173,97.
Total of all lines. November. 3,089,26 4,426,873
St Louis Southwest. 3d wk Jan
215,09?
191,942
San Ped LA&SL. November.
641,196
590,582
Seaboard Air Line.r
Atlanta A Birm.r •November 1,734,707 1,484,200
Florid a W Shore r J
Southern Indlana.r November.
124.966
102,237
__
Southern Pac Co._
Southern Railway
Mobile A Ohio...
Cin NO & Tex P_
Ala Great South.
c
November. 1232402::
3d wk Jan 1,050,820
3d wk Jan
208,444
3d wk Jan
166.147
3d wk Jan
80,571
Georgia So & Fla. 2d wk Jan
37,427
Texas Central
2d wk Jar
20,270
Texas & Pacific..__ 3d wk Jaa
285,915
Tidewater A West.r December..
8,330
Toledo A Ohio Cen: November,
389,161
Toledo Peor A West d wk Jan
23,692
Toledo St L & Weo. d wk Jan
70,242
November.
Tombigbeo Valley
7,712
Union Pacific Syst. November. 8,341,782
Vandalia
r November.
834,501
Virginia A Sou West December..
Wabash
3d wk Jan
Western Maryland r November.
West Jer A Seashore November.
Wheeling A L E__r November,
WhiteRiv(Vt)2 wks end Dec 4.
59,651
38,66b
19,95i
263,984
6,955
372,157
21,088
64,98?
7,2ot
7,241,815
569,810
Bellefonte Central
A Hudson.....
......
Jan
ban
Manlstlquj
Jan
Jan
Jan
Tan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Dec
Jan
Jan
a
e
Mexican Railway
Mexican Southern
N V Central A Hudson River.
Laae Shore & Michigan South
n Lake Erie & Western
Chicago Indiana & Southern.
Michigan Central
Cleve Cin Chicago & St Louis
Peoria & Eastern
Cincinnati Northern
7,761,266
6,790,367
604,506
529,489
760,88/
105,023
489,891
498,716
324,763
458,275
2,249,48o
1,248,307
598,946
1,991,937
1,037,775
701,963
9,107,577
8,676,980
41,275
36,406
1,876,264 2,197,608
665,353
635,666
2,099,192 1,927,095
32,83.
29,421
40,816,005 36,057,368
4,144,957 3,849,405
616,580
634,971
16,328,095 14,736,668
2,910,554
2,584,951
3,021,032
3,092,771
2,739,532
2,573,581
167,177
5,387,981
5,329,162
Current
Previous
Year.
Year.
$65,386
17,767,178
37,985
139,900
1,342,772
85,159,408
41,131,528
4,548,781
2,897,370
25,070,416
25,219,125
2,743,444
1,081,794
13,459,155
2,861,732
9,117,873
$65,700
16,894,360
Period.
I Delaware
a
22,280,517 20,297,432
15,889,783 17,233,128
38,170,302 37,530,559
830,1b
720,771
380,32
304,543
3 52,309
280,174
29 651,036 26,443.315
753,747
736,098
18,120,16V 16,105,150
4,972,10' 4,377,129
1,085,99
951,953
24 178,27.. 21,434,233
6,394,57* 6,068,081
3,469,246 2,895,159
52,188,196
937,654 32,256,195 29,316,982
191,071 5,825,461
5,480,208
147,51<
4,931,17'
4,309,337
377.966
621,756
962
1,446
Wrightsville & Tenn November.
26,67;>
24,778
Yazoo A Miss Vail. December 1,070,672 1.166,229
Various Fiscal Years.
3,812,308
26,131,441
1,436,179
1,091 545
14,543,358
5,519,414
35,681,803
3.6G8.797
23,753,539
69,546,924
Inc 7,87
8,267,143
7,675,635
16,769,583
77,096
11085203 58,635,947
94,384
509,372
993
Minneap A St Louis
Mississippi Central. November.
subsequent
on a
ROADS-
e
December
December
Chic Ind & Louisv. 3d wk Jan
Chic Ind A Southern
See New
Chic Mil & St Paul.r November.
Ch Mil & Pug Sd.r November
Chic A Nor West__r November.
Chic St P M & O
r December..
Chic Term Trans
r November.
Cin Ham A Day__r December..
Clev Cin Chic & St L —See New York Cen tral.
Colorado Midland.r November.
255,253
225,753
h Colorado A South 3d wk Jan
317,214
291,652
Colum Newb A Lau October
27,172
23,617
Cornwall
Cornwal & Leban.r
Cuba Railroad
l Delaware A Hud.r
Del Lack & West__r
Denv & Rio Grande
Denver N W A Pac
Det Tol A Iront Sys
Ann Arbor
Detroit & Mackinac
brought together separately
July 1 to Latest Date.
Week or
Chattanooga South. 2d wk Jan
Chesapeake A Ohio. 3d wk Jan
Chicago & Alton Ry 2d wk Jan
Chic tiuriA Quincy.r November.
p Chicago Gt West. December..
Copper Range
are
....
Pittsburgh A Lake Erie
Rutland
New York Chicago & St Louis
Total all lines
Northern Central
d Penn—East of Pittsb & Erie.
d West of Pittsburgh & Erie..
Phlla Baltimore A Washington.
Pitts Cin Chicago A St Louis
Rio Grande Junction
Texas & Pacific
West Jersey A Seashore
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
Deo
31
to
Nov
Nov
Jan
30
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
Dec
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Dec
Oct
Jan
Nov
30
144,601
50,700
7
117,600
31
1,259,770
31
76,655,979
30
,5,535,634
30
3,977,415
30
2,410,991
30
'12,122,789
30
j2t ,039;34o
30
1,480.095
30
892,990
30
9,457,565
30
2,543,101
30
8,348,102
30 213290635 186464003
30 11,230.508 10,409,405
30 130689 873 124033 073
30
Inc 12, 680,800
30 10,140,846 14,790,246
31 30,411,34b ,6,169,337
31
878,212
719,039
21
794,387
757,225
3
5.419,381 5,011,884
*
EARNINGS—Weekly and Monthly.
%
Monthly Summaries.
$
+ 1.758,833 15.05
9.71
+ 1.151,164
+2,929,647 20.97
9.31
+ 1,027,554
+ 545,814 4.89
+ 831,509 7.29
+ 1,573,506
9.83
+747,059 8.16
+ 1.172,238 12.33
+ 1,407,937 15.23
Month Mch
Month April
Month May
Month June
Month July
Month Aug
Month Sept
Month Oct
Month Nov
Month Dec
Cur*nt Year Prev’s Year
Inc. or Dec.
%
$
$
$
1909 (890 roads). 205,708.319 133,453,906 +
22,254,413
1909 (895 roads). 197,011.539 175 002,648
+ 2,008.891
1909 (893 roads).
1909 (893 roads).
1909 (885 roads).
1909 (883 roads).
1909 (882 roads).
1909 (881 roads).
1909
1909
201,625,122
210.357.226
219,964,739
236,559,877
246,065,956
260,613,053
(756 roads). 242,115,770
(48 roads)
59,856,521
.
174,475,411
183,983.829
195,245,655
206,877,014
219,013,703
233,105,043
207,816,169
56,638,080
27,149,711
+ 26,373,397
+ 24,719,084
+29,682,863
+27,052,253
+ 27,508,010
+ 34,299,016
+ 3,220,441
+
12.13
12.50
15.58
14.33
12.66
14.35
12.35
11.80
16.51
5.69
Mexican currency,
b Includes earnings of Gulf A Chicago Division,
c Includes the Houston A Texas Central and
its subsidiary lines in both
O-vers lines directly operated,
e Includes the New York A Ottawa, the St. Lawrence A Adirondack and
the Ottawa A N. Y. Ry., the tatter
H which, being a Canadian
road, does not make returns to the Inter-State Commerce Commission. /Includes Evansville A
Indiana RR.
the Cleveland Lorain A Wheeling Ry in both
a Includes
years
h Includes earnings of Colorado A Southern, Fort Worth A Denver City and allaffiliated lines exa
398
THE
CHRONICLE
[VOL.
LXXXX.
Latest Gross
Earnings by Weeks.—In the table which fol¬
up separately the earnings for the third week of
January. The table covers 32 roads and shows 15.23% in¬
crease in the aggregate over the same week last
lows
Roads.
year.
Third
Week of
January.
1909.
1908.
$
Alabama Great Southern...
80,570
Buffalo Rochester A Pittsburgh
168,118
Canadian Northern
185,100
Canadian Pacific
1,377,000
Central of Georgia
217,600
Chesapeake A Ohio
560,966
Chicago Ind A Louisville
92,693
Ctoc New Orl A Texas Pacific..
166,147-1
Colorado & Southern
317,214
Denver A Rio Grande
395,300
Detroit & Mackinac
21,527
Duluth South Shore A Atlantic
49,199
Grand Trunk of Canada
Grand Trunk Western
764,825
Det Gr Hav A Mllw__
Canada Atlantic.
International A Great Northern
147,000
Interoceanic of Mexico
159,222
Iowa Central..
55,741
Louisville A Nashville
1,039,125
Mexican International
186,126
Minneapolis A St Louis
71,176
Mlnneap St Paul & SSM
382,799
]
Chicago Division
j
Missouri Pacific
951,000
Mobile A Ohio
208,444
National Rys of Mexico
958,114
Rio Grande Southern.
9,726
St Louis Southwestern
215,093
Southern Railway
1,050,820
Texas & Pacific
285,915
Toledo Peoria A Western
23,692
Wabash
509,372
-
*
...
Total (32 roads)
Net increase (15.23%).
10,649,624
Second Week of January.
1910.
$
Previously reported (35 roads). 10,429,735
Atlanta
Birmingham
A Atlantic
Chattanooga Southern
Denver Northwest A Pacific
Detroit Toledo & Ironton
Ann Arbor
Georgia Southern & Florida....
Nevada-Califomia-Oregon
Toledo St Louis A Western
Total (43 roads)
Net Increase (12.33%)
48,230
1,673
16,642
25,824
39,490
37,427
6,175
70,242
10,675,438
59.656
122,991
115,900
1,039,000
222,000
483,875
84,529
147,510
291,652
358,800
20,729
47,602
20,914
4,400
25,562
36,500
798
347,215
Reading Company—
Phila A Reading.b
July 1 to Dec 31
Dec 3,936,286
1,597
140,075
144,000
147,031
58,479
873,505
140,455
69,133
316,852
3,000
12,191
850,000
191,071
916,944
10,664
191,942
937,654
263,984
21,088
489,891
2,738
165,620
45,671
2,043
65,947
101.0Q0
17,373
41,170
1909.
938
8,076
$
$
9,286,215 1,242,635
39,177
9,053
$
99,115
138
Bos Rev B’ch
Oct
1 to
July 1 to
Jan
1 to
368,927
2,277,989
1,180,184
6,108,328
594,045
3,340,119
45,808
218,691
1,127,991
7,226,289
11,854
63,146
Total of all cos
July 1 to Dec 31
Southern Railway.b
July 1 to Dec 31
Deo
A Lynn—
Dec 81
Dec 31
Dec 31
Chicago Great Western..Dec
Sept 1 to Dec 31
Colorado & Southern
July 1 to Dec 31
c
1,242
£
5,259
182,486
1,213,302
42,174
187,084
425,513
2,712,339
6,607
31,096
100,357
Previous
Year.
$
6,285,460
£112,175
£791,000
505,672
2,602,594
150,820
1,090,418
4,110
33,489
289,306
2,238,511
4,605
20,669
1.617,438 1,578, 263
8,183,133
8,747,347
233,915
506,270
1,851,353
9,253,618
145,533
884,924
119,865
127,448
3,013,839
Dec
18,080
33,017
65,630
203,666
837,169
247,021
1,521,681
36,276
219,282
46,009
234,757
18,564
36,668
72,207
8
369,212
760,894
178,073
210,059
,
306,666
1,062,593
1.884,929
9,245,726
130,925
767,197
2,015.854
1,996,886
10,138,542 10,012,923
Dec 5,028,486 4,716,530 1,758,597
1.495,042
29,284,292 26,579,125 10,127,214
8,912,73a
Current
Year.
Previous
Year.
$
$
£def2,400
sdef2,732
£52,802
£56,135
£48,916
£54,584
285,735 £defl7,855£defl08,869
1,170,008
£434,490£def298.481
251,767
c308,651
C254.161
1,547,821 c2.013.812 Cl,567,280
40,666
£22,650
£22,675
229,885
£125,492
£3,952
24,123
£24,962
£def9,121
111,570
£40,784 £def34,192
343,282
£91,976
£60,346
2,148,448
£601,122
£246,445
873,542
1,116,886
1,142,312
5,241,250 4,858,542 4,771,673
After allowing for net miscellaneous credit to Income.
After allowing for other Income received.
ELECTRIC
RAILWAY
AND
Latest Gross
Name of
Road.
Week or
Month.
TRACTION
Earnings.
Current
Year.
Earnings
£51,192
£869,084
822,925
3,658,202
1,056,348
883,135
Previous
Year.
$
Gulf & Ship Island
Dec
July 1 to Dec 31
New Ori Great Northern.Dec
July 1 to Dec 31
Pere Marquette
Dec
340,218
July 1 to Dec 31
2,149,694
1,958
Current
Year.
$
8
307,976
1,669,930
5,740,020
Current
Year.
$
Reading Company
Dec
880,000
July 1 to Dec 31-.
5,280,000
7,598
1,194
4,760
Net
Previous
Year.
Year.
8
—Int., Rentals, &c.— —Bal. of Net E'ngs.—
Decrease.
9,503,200 1,272,595
1,172,238
Earnings
Interest Charges and Surplus.
Roads.
Increase.
1,535
9,044
24,630
34,730
38,669
4,217
64,983
Net
Current
a Net earnings here given are after
deducting taxes,
b Net earnings here riven are before
deducting taxes,
ft For Dec. 1909 additional income is
given as showing a deficit of $7,968,
against a deficit of $10,059 In 1908, and for
period from July 1 to Dec. 31
was a deficit of $15,433 In
1909, against a deficit of $48,377 last
I The company now Includes the earnings of the Denver Enid A year.
Gulf RR.,
Pecos Valiev system and Santa Fe Prescutt A
Phoenix Ry. In both yearn.
For December taxes amounted to
$337,883, against $66,788 in 1908;
after deducting which, net for December
1909 was $2,026,527, against
$3,446,942 last year.
For period from July 1 to Dec. 31 taxes and rentals
were $1,836,472 in
1909, against $1,344,926 in 1908.
£ For December 1909 additional
income showed a deficit of $1,084,
against a credit of $22,430 In 1908, and for
period from July 1 to Dec. 31
was $68,703 In 1909,
against $89,020 last year.
23,151
113,166
21,931
2,604
19,481
9,241,687 1,416,013
1,407,937
3,744,102
22,280,517 20,297,432
&
Iron
Coal
Co.b
Dec 3,497,748
3,471,324
July 1 to Dec 3115,889,783 17,233,128
Total both oos.b--—Dec 7,434,034
7,215,426
July 1 to Dec 31
38,170,302 3 7,530,559
Reading Company
Dec
July 1 to Dec 31
>
7,525
24,208
203.255
8
1,264
1,586
31,078
249,186
COMPANIES.
— —
-
2,665,952
Minn St P A S S M.a..-Nov 1,613,666
July 1 to Nov 30
7,547,708
Chicago Divislon.a—Nov
720,135
July 1 to Nov 30.
3,703,605
New Orl Gt Northern.b-Dec
117,492
July 1 to Dec 31
548,148
Pere Marquette.b
Dec 1,326,495
July 1 to Dec 31
8,267,143
Raleigh A Southport.a.Dec
14,236
July 1 to Dec 31
77,096
2,838
634.971
$
Oct 1,713,641
6,306.807
United States Express.b Oct
827,296
to
July 1
Oct 31.
2,912,394
‘
July 1 to Dec 31
8
Gross Earnings—
Current
Previous
Year.
Year.
Companies.
American Express.b
July 1 to Oct 31
77,091
8,164
18,637
Atch Topeka & S Fe.b...Dec 8,389,776
8,168,079 j2,364,410 #,513,730
July 1 to Dec 31.
52,897,541 47,283,005 #9,317,669 #8,337,405
Buffalo Roch & Pitts.b-Dec
701,834
566,123
261,905
185,813
July 1 to Dec 31
4,704,708 3,732,298
1,856,092
1,126,687
Boston Revere Beach & Lynn.b—
Oct
1 to Dec 31-----173,494
174,044
11,045
10,565
July 1 to Dec 31
468,043
466,286
73,463
73,532
Jan
1 to Dec 31
848,775
828,766
105,006
106,471
Canadian Northern
Dec 1,160,300
927,900
334,400
285,100
July 1 to Dec 31
6,789,400
5,635,100 2,108,000 1,757,900
Central of Georgia.a
Dec 1,116,631
1,079,373
378,222°
309,897
►
July 1 to Dec 31
6,290,951
5,978,806
1,982,749
1,658,803
Chicago Gt Western.b-.Dec
887,517
943,570
185,266
172,493
Sept 1 to Dec 31
4,047,067 4,001,684
1,262,501
860,299
Chic Memphis A Gulf.._Nov
11,376
8,100
7,158
5,202
Colorado & Southern.b-Dec 1,421,575
1,409,608
553,517
489,816
July 1 to Dec 31
8,657,512 8,088,655 3,385,373
2,921,120
Detroit & Mackinac.a—Dec
86,940
85,345
def6,061
def22,629
July 1 to Dec 31.
601,010
558,698
133,566
116,156
Fairchild & Northeast.b.Dec
2,084
1,608
962
defl97
July 1 to Dec 31
11,798
10,103
def3,212
defl,396
Fonda Johns A Glov.a.Dec
64,841
56,325
29,951
25,320
July 1 to Dec 31
452,698
397,382
244,690
208,331
Gulf A Ship Island.b---Dec
187,082
181,263
57,871
62,909
July 1 to Dec 31.
1,086,713
939,953
338,613
230,119
Iowa Central.a
Dec
267,027
262,635
£42,734
ft47,413
July 1 to Dec 31
1,743,477
1,535,094
£416,116
£314,713
Kansas City Southern.b.Dec
801,949
734,550
280,561
291,275
July 1 to Dec 31
4,668,746 4,482,637 1,633,842
1,762,316
Lehigh Valley.b.
Dec 3,022,795
2,605,388
1,175,292
789,451
July 1 to Dec 31
18,237,719 17,021,729 7,394,149
Mlnneap A St Louis.a-.Dec
8
6,955
36,406
105,023
616,589
INDUSTRIAL
45,127
69,200
338,000
624,750
Gross Earnings
Current
Previous
Year.
Year.
$
3
Roads.
Net Earnings
Current
Previous
Year.
Year.
$
Net Earnings Monthly to Latest Dates.—The table fol¬
lowing shows the gross and net earnings of STEAM railroads
and of industrial companies reported this week:
,
8
8,330
41,275
94,384
Tidewater A Western, b-Dec
July 1 to Dec 31——
Vlrglnia A Southwest, b. Dec
July 1 to Dec 31
Increase. Decrease.
For the second week of January our final statement covers
43 roads and shows 12.33% increase in the
aggregate over
the same week last year.
-Gross Earnings
Current
Previous
Year.
Year.
we sum
$
Amer Cities Ry A Lt. October
524,706
American Rys Co
December
252,178
cAur Elgin A Chic Ry November.
122,788
Binghamton St Ry.. November.
25,911
Blrm Ry Lt A Power. September
188,364
December..
8,001
amaguey Co
November.
11,331
Cape Breton Elec Co December..
24,308
Carolina Pow A Lt Co December..
16,616
Central Penn Trac— December..
66,741
Chariest Con Ry GAE December
69,532
Chicago Railways Co. October
1109,640
Cleve Palnesv A East December
23,599
Dallas Electric Corp
December.. 119,766
Detroit United Ry— 2d wk Jan 133,369
Duluth-Super Tr Co. November.
85.509
East St Louis A Sub November.
177,712
El Paso Electric—
December..
59,667
Fair A Clarksb Tr Co. December
42,261
..
grockton A Ply St Ry
_
.
_
Ft
Wayne A Wabash
Valley Traction Co. November.
Galv-Hous Elec Co. December..
Grand Rapids Ry Co. November.
Havana Electric Ry. Wk Jan 23
Honolulu Rapid Tran
.
A Land Co
October
123,651
100,867
COMPANIES.
Jan. 1 to latest date.
Previous
Year.
Current
Year.
$
481,001 4.750,809
237,530 2,937,491
109,912 1,418.757
24,823
313,951
177,388 1,646.825
7,962
130,786
10,793
122,119
21,766
240,709
15,387
197,963
61,081
754,488
67,995
768,758
968,542 10,244,248
32,763
321,172
106.830 1,320,122
117,871
269,622
76,835
896,346
170,739 1,850,565
55,194
600,958
36,808
472,251
Previous
Year.
4,468,295
2.798,080
1,289.352
290.328
1,581,763
122,265
108,222
247,546
144,854
708,295
757,457
9.003,164
305,739
1.169.968
239,154
810.836
1.837,239
534,222
416,882
80,326
111,794
96,998
74,220
1,284,807
1,206,543
1,203.885
1,088,447
37,408
938,869
35,729
858,792
114,934
107,491
36,375
34,010
341,989
316,558
Houghton Co Trac Co December..
26,083
24,833
319,966
265,576
Illinois Traction Co_. October
457,995 406,172 3,885,844 3,605,602
Jacksonville Elec Co. December..
49,011
38,965
486,778
430,838
Kansas City-Western. December.
27.509
28,439
357,797
339,764
Lake Shore Elec Ry. December.
89,062
80,286 1,109,083 1.035,650
Milw El Ry A Lt Co. December
395,753 359,804 4,267,539 3,898,539
Milw Lt Ht A Tr Co. December
70,673
62,255
927,625
852,727
Montreal Street Ry. Wk Jan 22
72,934
65,236
228,922
208,444
Nashville Ry A Light November.
149,426 138,598 1,565,101 1,447,946
North Ohio Trac A Lt December.
182,912 160,454 2,177,642 1,890,473
North Texas Elec Co. December.. 108,483
97,448 1,259,551 1,080,577
Northwest Elev Co._ December.. 184,679 183,689
2,071,325 1.950,030
Norf A Portsm Tr Co November. 155,756
dl56,732 dl ,748,495 al ,708,761
Oklahoma City Ry
October
49,683
31,199
Paducah TracA Lt Co December..
20,884
20,751
227,344
226,614
Pensacola Electric Co December..
20,410
18,795
246,664
209,183
Portl(Ore)Ry LAPCo December.. 432,666 386,797
4,818,022 4.351,676
Rio de Janeiro Tram
__
,
_
St
Light A Power
November.
Joseph (Mo) Ry Lt
632,568
627,640
6,885,258
November.
December
82,296
75,963
204,705
2,428,117
Heat A Power Co
Sao Paulo Tr Lt A P
Savannah Electric Co
Seattle Electric Co..
Sou Wisconsin Ry Co
Tampa Electric Co
_
December..
December..
December..
December..
Toledo Rys A Light. December
_
Toronto Railways— Wk Jan 22
Twin City Rap Tran. 2d wk Jan
Underground
El
of London—
Three tube lines
Ry
Wk
Jan
8
Metropolitan Dist. Wk Jan 8
United Tramways. Wk Jan 8
United Rys of St L.. December.,
United RRs of San Fr November.
Virginia Ry A Pow Co August
Whatoom Co Ry A Lt December.
c
225,636
50,288
481,893
14,226
56,389
263,400
74,035
130,746
£13,550
£10,712
£5,499
918,328
619,313
165.334
39,149
54,001
415,079
13,182
50,063
235,974
65.923
117,126
County Ferries.
603,813
5,854,175
162,184
596,303
2,730,396
222,471
259,763
826.706
2,263,844
595,819
4,520,489
156,156
552,574
2,538,633
197,670
234,525
£13,280
£9,925
£5,200
£6,502
£6,081
910,288 11,111,431 10,593,166
574,522 6,810,118 6,262,900
1,348.720
37,353
406,867
362,252
These figures are for consolidated
company,
the Norfolk
887,467
6,519.384
d Includes earnings
oj
JAN. 29
Electric Railway Net Earnings.—In the following we show
both the gross and the net earnings to latest dates of all
ELECTRIC railways from which we have been able to pro¬
cure monthly returns.
The returns of the different roads are
published by us each week as soon as received, and once a
month we bring together all the roads reporting, as is done
to-day.
Gross Earnings
Current
Previous
Year.
Year.
Hoads.
3
524,706
4,750.809
..Dee
391,822
3,345,440
122,788
Aurora Elgin & Chic.. ..Nov
740,804
..Dec
57,216
186,194
Oct 1 to Dec 31.
..Nov
25,911
i-.Oct
Jan
1
„
.
— -
•
4,170
48,718
21,766
247,546
17,753
11,738
98,207
9,451
9,252
105,036
61,081
708,295
67,995
637,658
17,449
195,677
15,994
151,355
24,731
23,192
224,632
968,543
332,892
3,488,573
290,564
Jan
1
to
321,172
32,763
305.739
11,171
157,264
44,661
498,631
62,046
Oct
23,599
8,231
Dallas Elect Corp
Jan 1 to Dec 31
Dec
119,766
106,830
Nov
1,320,122
676,482
7,351,390
1,169,968
Detroit United
Jan 1 to Nov 30
570,711
6,508,894
2,736,607
20,056
137,245
40,890
389,313
196,026
2,326,106
Duluth-Superior Tr Co b Nov
85,509
896,346
76,835
810,836
38,106
370,963
28,836
316,326
177,712
1,850,565
170.739
1,837,239
87,872
849,515
82,617
877,076
59,667
600,958
42,261
472,251
55,194
534,222
36,808
416,882
111,794
1,203,885
96,998
1,088,447
74,220
858,792
34,010
316,558
27,039
240.855
26,242
306,819
53.880
536,111
17,803
149,584
42,385
497,510
42,068
460,474
37,126
491,199
40.2P5
c
Jan 1 to Nov 30
East St L & Sub.b
Jan 1 to Nov 30
Nov
El Paso Elect Co...
Jan 1 to Dec 31
Dec
Falrmouit & CUrksb’g b Dec
Jan i la Dec 31
Pt Wayne & Wab Vail. .Nov
123,651
Jan 1 to Nov 30
1,284,807
Galv-Houston El Co
Dec
100,867
Jan 1 to Dec 31
1,206,543
.
Grand Rapids Ry Co.b.Nov
80,326
iMteJ&U 1 to Nov 30
938,869
Honolulu RapTr&LCo b Oct
Jan 1 to Oct 31
36,375
341,989
26,083
Houghton Co Trac Co
Jan 1 to Dec 31..:
Illinois Traction Co .a
Jan 1 to
Sept 30
Jacksonville Elect Co
Jan 1 to Dec 31
Dec
319,966
Sept
373,252
3,174,865
r
Dec
49,011
486,778
124,833
265,576
357,508
2,973,051
38,965
430,838
Han City-West Ry Co.a Dec
28,439
27,509
182,927
July 1 to Dec 31
191,369
80,286
Lake Shore Elec Ry.a.-Dec
89,062
Jan 1 to Dec 31
1,109.084
1,035,650
Massachusetts Electric Cos.a—
Oct 1 to Dec 31
1,921,073
1,772,655
July 1 to Dec 31
4,547,461
4,240,704
MUw El Ry & Lt.b
Dec
395,753
359,804
Jan 1 to Dec 31
4,267,539
3,898,539
MUw Lt Ht & Tr Co.b.-Dec
70,673
62,255
Jan 1 to Dec 31
927,625
852,727
Montreal Street Ry.b
304,884
Dec
337,563
Oct 1 to Dec 31
1,026,441
935,070
Nashville Ry & Lt Co.a.Nov
149,426
138,598
Jan 1 to Nov 30
1,565,101
1,447,946
Norf & PortsmthTrCo b Nov
155,756
dl56,732
Jan 1 to Nov 30
dl,748,495 dl,708,761
Nor Ohio Tr & Lt Co
Dec
182,912
160,454
Jan 1 to Dec 31
2,177,642
1,890,473
Nor Texas Elect Co
Dec
97,448
108,483
Jan 1 to Dec 31
1,259,551
1,080,577
Oklahoma City Ry
Oct
49,683
31,199
Oneida Ry Co.b—
July 1 to Sept 30
122,312
113,088
Oregon Electric Ry.a
Nov
Paducah Tr & Lt Co
Jan 1 to Dec 31
Dec
Pensacola Elect Co
Jan 1 to Dec 31
Dec
.
34,785
20,884
227,344
20,410
246,664
21,984
20,751
* 226,614
18,795
209,183
PhUadelphla Co (Pitts)..Dec 1,864,980
1,645,243
April 1 to Dec 31
14,060,180 12,349,331
Portl(Ore)Ry.Lt &P_b—Dec
432,666
386,797
Jan 1 to Dec 31
4,818,022 4,351,676
Puget Sound El Ry
Dec
148,994
136,576
Jan 1 to Dec 31
1,639,131
1.869,096
RIode JanTrL & P.a.-Nov
632,568
627,640
Jan 1 to Nov 30.
6,885,258
6,519,384
StJos(Mo) Ry.L&PCo-b.Nov
82,296
75,963
Jan 1 to Nov 30
887,467
826,706
Sao Paulo TrLt&Pow.a.Dec
225,636
204,705
Jan 1 to Dec 31
2,428,117 2,263,844
Savannah Elect Co
Doc
50,288
Jan 1 to Dec 31
603,813
Seattle Elect Co
..Dec
481,893
Jan 1 to Dec 31
5.854,175
Syracuse Rap Trans Co.b—
July 1 to Sept 30.
Tampa Elect Co
Dec
Jan 1 to Deo 31
Toledo Rys & Llght-b-.Dec
Jan 1 to Dec 31
Toronto RaUway
Jan 1 to Nov 36
Tri-City Ry 8> Light
Jan 1 to Dec 31
Nov
Dec
Twin.City RapTr Co.b.Nov
Jan 1 to Nov 30
371,868
56,389
596,303
263,400
2,730,396
325,417
3,515,684
204.859
2,038,728
580,795
6,854,177
54,001
595,819
415,079
4,520,489
345,046
50,063
552,574
235,974
2,538,633
286,957
8.223.086
178,259
1,819,077
526,574
6,846,542
235,732
.
18.881
168,555
11,849
147,415
157,157
1,286,464
26,905
217,582
7,246
23,896
270,998
52,798
531,489
430,525
16,635
141,190
11,534
117,330
161,499
1,251,599
17,417
176,895
72,448
41,307
522,900
10,050
72,669
33,093
454,102
592,172
1,928,834
1,617,222
191,405
2,148,637
36,104
535,547
125,557
439,563
66,245
645,598
70,261
741,663
81,358
987,585
47,450
566,816
22,320
64,463
11,961
8,328
91,591
8,684
105,327
899,905
5,736,396
250,389
2,621,526
40,592
618,508
277,172
2,781,691
39,961
427,435
144,365
1,515,273
17,605
211,463
192,858
2,459,638
79,854
23,894
250,199
127,095
1,204,276
157,305
1,726,485
94.200
890.587
807,751
3,371,391
475,327
189,478
1,914,734
31,830
481,655
101,766
385,876
59,327
582,396
69,400
697,842
£27,521
£8,141
£21,926
£6,076
£24,126
£15,658
£13,429
£6,822
£9,354
£6,092
United Rys of St L-a.--Dec
918,328
910,288
Jan 1 to Deo 31—_11,111,431 10,593,166
316,837
Jan
6,810,118
to Nov 30
1
£6,696
258,189
2,363,221
354,858
4,083,253
8,855,706
133,669
345,113
17,935
129,885
18,114
131,251
332,567
14,872
112,326
17,702
Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes.
c Taxes for 1908 are Included In expenses; for 1909 they are
Included In
898,289
40,623
268,463
39,149
Dee
Ry.b
310,600
819,818
36,232
240,524
87,353
328,524
July 1 to Dec 31
Whatcom Co Ry & Lt.-Dec
362,252
406,867
Jan 1 to Dec 31
155,493
178,775
a
d Includes the gross earnings
which expired April 1 1909.
of the Norfolk County Ferries, lease for
Interest Charges
and Surplus.
—Bal. of Net E'ngs.—
Current
Previous
Year.
Year.
-Int., Rentals, Ac.—
Current
Previous
Year.
Hoads.
£
107,207
Amer Cities Ry & Lt— .Oct
1,063,568
Jan 1 to Oct 31
29,585
Aurora Elgin & Chic
Nov
146,662
July 1 to Nov 30
13,752
Boston Sub Elec Co
Dec
40,998
Oct 1 to Dec 31
8,931
Binghamton Street Ry._Nov
Jan 1 to Nov 30
99,338
Brock & Plym St Ry
Jan 1 to Dec 31
Dec
Cape Breton Elect Co
Dec
Carolina Pow & Lt Co
Jan 1 to Oct 31
Oct
Jan 1 to Dec 31
Charlest’nConsRy G & E
Deo
_ _
Mch 1 to Dec 31
Cieve Painesv & East
Jan 1 to Dec 31
Dec
Dallas Elect Corp
Jan 1 to Dec 31
Detroit United
Jan 1 to Nov 30
Dec
Nov
Duluth-Superior Tr Co. Nov
_
Jan 1 to Nov 30
East St Louis & Sub
Jan 1 to Nov 30
Nov
El Paso Elect Co
Jan 1 to Dec 31
Fairmount & Clarksb’g.
Jan 1 to Dec 31
Dec
_
Dec
Galv-Houston El Co
Dec
Jan 1 to Dec 31
Grand Rapids Ry Co—Nov
Jan 1 to Nov 30
Honolulu R T & L Co
Oct
Jan 1 to Oct 31
—
Dec
Houghton Co Tr Co
Dec 31
Jacksonville Elec Co
Jan 1 to Dec 31
Jan
1 to
Kan City-West Ry
—
—
Dec
—
—
Co..Dec
July 1 to Dec 31
Lake Shore Elec Ry
Dec
Jan 1 to Dec 31
Massachusetts Electric Cos—
def 1,938
374
9,012
1,071
34,625
27,655
248
158
def 659
2,153
26,755
4,959
59,462
16,169
6,674
37,766
725
5,239
40,598
10,814
13,817 *
137,992
95,405
8,276
2,744
55,981
96,735
16,986
27,720
160,820
348,026
132,819
*88,424
1,485,058 *1,145,342
17,349
dl6,701
d202,368
161,360
37,930
48,800
304,971
534,274
17,629
7,765
86.894
142,631
12,390
13,939
141,349
163,883
19,326
20,696
233,611
245,277
21,070
18,536
282,524
205,977
*13,325
6,122
60,066
*112,792
5,805
4,743
59,632
74,090
9,052
17,635
110,792
104,716
*550
6,871
*32,059
41,200
34,480
6,296
9,375
86,640
11,780
40,510
13,170
41,287
*69,704
*898,967
12,135
113,958
33,817
342,802
10,040
62,690
11,506
129,649
21,372
215,197
19,225
224,548
*11,189
*87,648
5,729
57,699
8,365
66,103
*3,225
*31,640
defl,387
42,500
766,901
189,541
7,603
6,704
82,549
4,282
*55,160
1,617
9,947
4,087
51,181
471,944
SUos(Mo) Ry,LtHt&P—Nov
Jan 1 to Nov 30
Savannah Elect Co
Dec
Jan 1 to Dec 31
Seattle Elect Co
Deo
Jan 1 to Dec 31
9,548
6,711
81,644
4,595
52,632
497,766
129,812
1,493,039
59,079
570,048
21,608
235,209
17,599
209,693
103.709
1,242,664
52,695
*580,865
120,577
1,128,487
def8,487
48,460
18,353
192,226
Syracuse Rap Trans Co—
July 1 to Sept 30
Tampa Elect Co
Dec
95,042
4,816
Dec
to
Phila Co (Pittsb)
Dec
Portl (Ore) Ry, Lt & P.Deo
Jan 1 to Dec 31
Dec
Puget Sound El Ry
Jan 1 to Deo 81
—
116,606
1,384,542
43,354
515,140
20,992
226,294
17,077
'
6
*128,868
*810,098
*91,203
*383,464
71,040
295,308
26,820
230,269
3,638
def85,878
30,307
277,517
27,938
260,984
*54.940
4,668
10,671
3.681
13,131
*499,230
92,268
844,648
513
83,086
18,194
181,354
3,189
374
95,313
1,770
89,149
1,090,646
1,216,974
65,965
759,591
88.825 *defl5,051
5,211
19,078
39,774
55,968
194,231
Jan 1 to Dec 31—...
72,125
*51,320
Toledo Rys 8s Light.— .Dec
75,927
851,782
*327,554
Jan 1 to Dec 31
879,503
167,500
Twin City Ray Tr Co—Nov
dl40,251 dl43,677
Jan 1 to Nov 30
.dl,529,012 dl ,427,456 1,842,379
233,866
84.661
United Rys of St Louis..Dec
232,176
Jan 1 to Dec 31
—
2,798.182 2,798.738 1,285,071
*20,680
12,181
144,891
*43,586
*313,307
123,127
1,521,388
120,992
1,056,968
206,615
—
^
Utica 8s Mohawk Valley—
July 1 to Sept 30
Jan
1 to Sept 30
Whatcom Co Ry A Lt—Dec
Jan 1 to Deo 31
Western Ohio Ry
..Dec
July 1 to Dec 31
* After allowing for other
*
„
7,070
4,293
45,574
7,506
147,518
1,052,122
*140,697
*967,278
*64,577
*348,366
91,077
343,219
33,222
284,269
6,053
31,765
38,148
463,519
30,374
362,677
July 1 to Sept 30
208,874
2,229,190
48,867
598,226
256,846
2,504,795
39,186
407,648
137,000
1,450,554
20,266
206,989
161,278
1,850,237
def8,299
432,827
850,321
101,916
1,197,202
60,732
716,941
30,726
90.568
32,507
352,127
65,762
723,720
43.999
526,532
15,184
Paducah Tr & Lt Co...-Dec
Jan 1 to Dec 31
Pensacola Elect Co
Dec
Jan 1 to Dec 31
807,272
83,703
724,781
17,220
186,788
444,654
876,712
90,309
1,268,827
67,624
779,336
34,480
96,344
33,023
361,329
64,208
709,898
43,210
524,066
17,076
204,139
1 to Dec 31
Dec 31
Milw Lt Ht & Tr Co
Dec
Jan 1 to Dec 31
Montreal Street Ry
Dec
Oct 1 to Dec 31
Nashville Ry & Light—Nov
Jan 1 to Nov 30
Norf & Portsmth Tr Co.Nov
Jan 1 to Nov 30
Northern Ohio Tr & Lt -Dec
Jan 1 to Dec 31
Dec
Nor Texas Elect Co
Jan 1 to Dec 31
Oneida Ry Co—
5,166,564
£
£
110,500
925.994
23,678
222,034
63,370
Jan 1
11,372
93,220
7,963
64,312
£
104,472
1,042,698
27,723
138.481
13,340
39,950
8,748
92,098
107,950
Oct
62,414
5,933
1,808
21,668
5,064
60,441
4,212
21,448
13,917
139,167
8,427
101,283
27,675
337,811
157,919
1,723,399
d20,757
d209,603
49,942
544,544
9,410
98,224
12,303
142,936
23,059
263,899
18,590
208,675
6,378
62,135
7,106
73,325
9,270
112,866
6,875
41,250
35,011
414,950
Year.
390,732
July 1 to Dec 31
Milw Elec Ry & Lt.
74,306
804,049
43,122
450,525
12,033
109,037
17,392
184,665
115,618
1,161,611
160,314
1,514,198
81,607
749{760
266,794
2,948.844
£48,962
£13,675
£4,409
266,743
2,947.673
11,403
48,962
5,006
55,897
Year.
£23,129
574,522
6,262,900
Western Ohio
2,311
33,825
Previous
Underground Elec Rys, London—
Metropolitan District.Nov
£55,530
Baker St & Waterloo.Nov
£15,815
Gt Nor Pick A Bromp.Nov
£27,838
Char Cr Eust & Ham.Nov
£17,363
London United Tram.Noy
£22,311
United RRs of San Fr.b-Nov
619,313
2,678,063
1,149
37,837
234.572
Roads.
Utica & Mohawk Valley.b—
July 1 to Sept 30.
Jan
1 to Sept SO......
44,943
325,269
Net Earnings
Current
Previous
Year.
Year
Gross Earnings—
Current
Year.
188,175
1,767,479
307,342
7,962
122,265
10,793
108,222
Jan 1 to Dec 31.
22,251
)lina Power & Lt ( io.Oct
163,569
Jan 1 to Oct 31
tral Penna Tr Co.. ..Dec
66,741
754,488
Jan 1 to Dec 31.
69,532
rlest'nConsRy G 6c E I aDec
Mch 1 to Dec 31
650,089
...Oct 1,109,640
Cieve Painesv & East.a-Dec
Jan 1 to Dec 31
$
69,822
653,615
8,001
130,786
11,331
122,119
24,308
240,709
..Nov
3
217,707
1,989.562
382,260
3.239.179
53,263
368,696
5,453
41,372
Prevous
Year.
82,611
723,156
1,646,825
..Dec
4.468,295
310,342
2,723.063
109,912
671,467
60,740
195,808
24,823
290,328
177,388
1,581,763
Current
Year.
8,996
119,753
188,364
Sept
£
481,001
Net Earnings
10,002
133,963
313,951
a
299
THE CHRONICLE
1910.]
preferred stock.
74,711
221,573
8.520
99,800
15,402
92.659
*59.968
*125.761
53,183
157,389
8.847
9,592
78,975
55,801
6
2,533
37,226
21,146
d Includes dividends on
99,692
14,866
91,180
inoome received.
*80,889
*185,500
8,855
fc
300
THE CHRONICLE
ANNUAL REPORTS.
shown in
{Report for Six Months ending Oct. 31 1909.)
President Daniel Guggenheim, Jan. 15, writes in substance:
Hudson
The earnings for the six months
are at the rate of slightly over 6 H % per
the common stock.
As the market price of metals has remained
virtually as low as during the recent panic, the company has not been able
to participate in the
general revival of prosperity.
Under the circumstances
I regard the
earnings as satisfactory.
There is also enclosed a statement of
and balance sheet of the
American Smelters’ Securities Co. for the earnings
first half of this fiscal year.
Since
no similar
statement was made last year, the earnings cannot be
comparative.
Your company owns about
60% of the common stock of the Ameri¬
can, Smelters’ Securities Co. and Is therefore vitally interested In its prospcrity*
The surplus earnings for the six months’
period are equal to about
7% annually on the common stock of the
Securities Co., of which your
company owns $17,751,000 par value.
The management of this company
was taken over and the stock
acquired about 5 years since, and the wisdom
of this action has now been
completely demonstrated.
The very gratifying
improvement in earnings here reported is due to the
completion of the
various works under construction for several
years.
annum on
heavy-faced type.
Railroads—
Chicago Peoria & St. Louis
Page.
Companies
104
234
t
Interborough-MetropolltanCo., N.Y. 234
Interborough Rapid Transit Co
1661
Kansas City Mexico & Orient (spe¬
cial report)..
105
National Rys. of Mexico
1661, 1674
Northern Securities Co., New York.
233
St. Louis Rocky Mtn. & Pacific Co.. 233
Electric Railways—
Boston Elevated Ry.
105
Boston & Worcester Electric Cos
1662
Capital Traction Co., Wash., D. C.. 166
Kansas City-Western
110
Lehigh Valley Transit Co
167
Metropolitan Street Ry., N. Y-...1662
Michigan United Railways
106
Northern Ohio Trac. & Lt. Co.l
237
Third Ave. RR., N. Y
1662, 164
Industrials—
American Cement Co
169
American Ice Co
165
American Light & Traction
239
American Smelters’ Securities
1662
_
^
_
Industrials—Concluded.
American Sugar Refining.
Booth Fisheries Co., Chicago
Claflin (H. B.) Co
Colorado Fuel & Iron Co
Consolidated Gas Co. of N. Y
Page
164
106
165
1663
1664
Empire City Subway Co., Ltd.,N.Y.1666
Telephone &
107
Telegraph Co., Buffalo
General Motors Co., New York
1666
Kansas City Stock Yards Co. of Mo. 107
Keystone Telephone Co. of Phila¬
170
delphia (half-year).
Knox Automobile Co., Springfield,
Mass. (bal. sheet Dec. 15 1909)— 113
Lackawanna Steel Co. (6 months)-. 170
Lawyers’ Mtge. Co., New York
165
Monongahela River Cons. Coal & Coke234
Realty Associates, Brooklyn, N. Y._ 106
Standard Cordage Co., New York— 235
Stevens-Duryea Co., Chicopee Falls,
Mass. (bal. sheet Aug. 31)
106
Swift & Co., Chicago
165
Wichita Kan.) Natural Gas Co
241
Federal (Independent)
Metropolitan Street Railway, New York.
(Results for Calendar Year 1909 as Viewed by Reorganization
Committee.)
G. E. Tripp, Chairman of the joint committee on reorgani¬
zation, has issued substantially the following statement as
to the reports of earnings put out
by the receivers (compare
V. 90, p. 168; V. 89, p. 1662):
RESULTS FOR
6 Mos. ’09.
There have been several financial statements published from which the
public might get an erroneous impression as to the real profits of the com¬
pany.
Most people do not know that the receivers’ reports are not the
reports of the company, but are simply, and quite properly, the income
and disbursements (actual or accrued) of the receivers.
The “statement of income,” as shown by the receivers’
report for the
year ending Dec. 31 1909, shows “net income, surplus for the
period,”
$1,056,848.
While this shows the balance of the receivers’ accounts, it
gives no idea whatever of the true results for the year considered from the
standpoint of the company, because it leaves out of consideration very
large items which the company is under obligation to pay but which the
receivers have not paid or not been able to pay.
Instead of a net income of $1,056,848, there is really a deficit of about
$1,600,000, as shown by the tabulated statement below.
If the purchasers of the property at the receivers’ sale
should be required
to pay the accident claims and operating debts
of the New York City Rail¬
way Co., the deficit will be increased to the extent of the interest
charge on
such additional payment.
In none of the figures given above is there
any allowance for dividends
upon the $52,000,000 stock of the Metropolitan Street
Railway Co., nor
upon the stock of the Metropolitan Securities Co., amounting to
$30,000,000, and it cannot be said therefore that the deficit is in
any sense due
to the stock capitalization.
This is the real condition that confronts those who are Interested In
the
reorganization.
The situation cannot be cured by the scaling down of
securities to a point below the actual money invested,
for, as a study of the
following statement will show, the company is ot maki g enough net
profit to attract new money, and it would be strangled by lack of funds to
make the additions and improvements that are and will be
constantly re¬
quired.
This is not merely a private enterprise: it cannot increase the
price of its goods if it is selling them below cost. The purchasing
power
of the nickel has shrunk just as much for the
company as it has for the rest
of the community.
This problem confronts the public as well as the in¬
Charges—Rent of leased lines
Interest
on
$1,848,676
underlying bonds, &c
strue.
on
$3,483,024
30,000
625,000
664,160
75,000
1909.
Assets—
Cash and de¬
mand loans. 9,445,379
1908.
1909.
8,629,550
Profit & loss..15,894,688
Total
118,683,605 117802,184
-V. 89, p. 1669.
1908.
Total
14,499,979
118,683,605 117,802,184
Republic Iron & Steel Co.
{Report for Six Months ending Dec. 31 1909.)
The executive committee says in substance:
Income.—The general improvement in business
anticipated in the last
annual report has been fully up to
expectations, and the net earnings for
the period of this report show substantial
improvement,
as compared with
the last half of the calendar year 1908.
The reduction in
pared with the
same
profit as com¬
period in 1907 Is due entirely to lower prices on sales
As a result of appropriations and expenditures
labor-saving devices, cost of production has been
of manufactured products.
for improvements and
largely reduced, notwithstanding the fact that labor rates and cost of
gen¬
supplies are substantially on the basis of 1907.
The reduction in
however, have been more than offset by the greater reduction in costs,
selling
prices, so that the profits per ton shown by this report are
necessarily less
than for the six months ending Dec. 31 1907.
Construction.—The tube works have been substantially
completed, and
it is expected will be placed In operation not later
than March 1910.
Sub¬
stantial progress is being made on the construction of the
Haselton Steel
Works, also referred to in the last annual report; it is not probable,
however,
t hat any benefit from the operation of this
department will be realized during
the
eral
present fiscal year.
Prospects.—The outlook is encouraging, with the prospect of better aver¬
age prices and an increased volume of business.
Depreciation, cfee.—Ample provision has been made for depreciation,
extinguishment, repairs and other charges, the total for the six months
being $1,040,494, or an increase of $329,009, as compared with the corre¬
sponding period in 1908. The net addition to surplus after all deductions,
including interest on bonds, dividends and other charges, Is $539,596, and
the net
$11,701,321.
Unfilled Orders for Finished and Semi-Finished Product and Pig Iron.
Finished, &c.. Prod.
Pig Iron.
Dec. 31 1909
457,785 ton3
39,995 tons
June 30 1909.
392,420 tons
94,247 tons
Dec. 31 1908
391,040 tons
89,934 tons
June 30 1908
283,743 tons
59,196 tons
June 30 1907
448,627 tons
74,500 tons
RESULTS FOR SIX MONTHS ENDING DEC.
6 Mos.
1909.
$586,270
securities owned
approximately
Net earnings from oper’ns_$2.490,526 Net
Income.Construction & improv’ts,
186,999 Dividends
$2,303,527|
Balance, surplus.
539,596
*
Nov. 30’09.
Liabilities—
$
Com. stock-._30,000,000
investments 78,846,077 78,846,077 Pref.“A”
stk-17,000,000
Metals
10,265.102
6,964,093 Pref. “B” stk.30,000,000
Material.-^-. 1,049,890
984,527 Net cur’t liabs 8,307,258
Cash
703,881
1,285,335 Deferred liabs 2,360,640
Unearned treat¬
$
and
.
.,
_
$
ment
chges. 1,598,773
Profit & loss.. 1,598,279
90,864,950 88,080,032
-V. 89, p. 1662.
1909.
$
Assets—
Prepaid
royalties
& expenditures.
983,366
Miscellaneous
3,795
and
Raw
finished
materials
5 ,976,982
Ore contract pay’ts
527,279
Advan.to assoc.cos
317,700
Accounts and bills
receivable
3 .954,437
Cash
5 ,135,792
$1,043,527
1,548,921
554,752
-in:,-maJL-mai-ii-**:
i
Total
a
747,389
2,895
5,327,781
689,756
ER 31.
1909.
190S.
Liabilities—
$
$
Common stock
27 ,191,000 27,191,000
Preferred stock...25 000,000 20,416,900
First mtge. bonds. 7 ,773,000
8,275,000
Potter Ore Co. bds.
Jointly guar
334,000
342,000
Acer. int. on bonds
97,163
103,437
Balance from ore
contracts
186,131
49,718
payable
2 180,550
Due HaseltonSteel
1,652,414
Bills and accounts
Tube Co
2,829,624
1 230,086
218.645 Reserve funds_...a2 ,546,848
Accrued taxes
76,694
Divid’d warrants. 1 ,189,050
Dividends accrued
440,246
Profit and loss....65 .081,990
73,326,758 64,862,600
Total
1,287,394
62,880
5,481,857
73,326,758 64,862,600
Includes fund for extinguishment, $1,034,006; for depreciation and
renewals,
for re-lining furnaces, $137,432; for fire and accident insurance, &c.,
$868,923;
$318,928;
b After
on
1908.
S
54 ,558,375 53,998.189
776,648
82,985
965,336
092,384
Plant, &c_
New construction.
Invest, in oth. cos.
...-
May 31'09.
$
30,000,000
17,000,000
30,000,000
6,418,999
2,557,360
782,330
193,383
BALANCE SHEET DECEM
Total... ...90,864,950 88,080,032
-.-•U
312,178
(3H%)
For arrears of dividend paid out of profit and loss account, see below.
BALANCE SHEET.
Nov. 30 ’09. MaySl’OQ
782,330
Balance, surplus.-
1,973,611 1,258,955
250,000
$2,303,527
1,260,000
74,604
208,637
1,334,392
*794,796
1,000,000
$1,624,270
127,684
199,357
Net profits
Div. on pref. stock..
do
do
percent.
Depr.& renew.of pits
212,000
6 Mos.
1908.
S
Balance
1,901,399 1.231,648
Int. & div. received,
less Interest paid..
72,212
27,307
598,376
Total profit--1
Deduct—
$1,836,270
31.
6 Mos.
1909.
$
401,857
plant
90,000—1,643,118
^
$
6 Mos.
1908.
$
Provision for exhaus¬
tion of minerals.Interest on bonds...
-
643,419 1,091,761
$
$
Liabilities—
$
$
86,845,671 86,845,671 Com. stock
50,000,000 50,000,000
Investments.. 4,368,191
2,858,617 Pref. stock...50,000,000 50,000,000
Metals (refined
Bonds
237,000
349,000
values)
16,207,043 18,218,785 Net cur’t liab.
804,645
Material
1,224,605
1,249,561 Unearned treat¬
Net cur’t assets
592,716
ment chges. 2,551,917
2,148,560
Gross profits
2,499,775 1,633,504
Malnt. & repairs of
{Report for Six Months ending Nov. 30 1909.)
Total
Bal., surplus.
Property
v
American Smelters Securities Go.
Assets—
75,923
BALANCE SHEET OCT. 31.
$158,958
—V. 90, p. 168.
Property
48,774
dlvs_.3,393,419 3,841,761
$1,056,848
Deficit
1
'There was expended on the property and
charged to operating
expenses in the above figures $2,192,976.
Expert opinions
and experience show that this sum is not
sufficient to cover
depreciation, obsolescence and contingencies. A conserva¬
tive policy would require (before
dividing profits) a reserve
of about
In order to pay receivers’ liabilities and
expenses of reorgani¬
zation there will be required, in addition to
receivers’ certifi¬
cates, a sum ranging from $5,000,000
up—say, $5,000,000—
5% on which is
defk?t,
Almp’ts.
Bal. for
6 Mos. '08
$
$
Divs., pref.(3 H) 1,750,000 1,750,000
Divs., com. (2) .1,000,000 1,000,000
Deduct—Con¬
577,500—2,426,176
Net income as per receivers’ report
Charges Not Included by Receivers—
Interest on receivers’ certificates
Interest on Metropolitan Crosstown bonds
Interest on 5% general mortgage bonds
Interest on 4% refunding mortgage bonds
Int. on Central Crosst’n notes, 8 mos. from
May 1 ’09
Rental Central Crosstown line
Ft Real
6 Mos. ’09.
$
Net earnings from
operations __.3,442,193 3,917,684
.
Net earnings
r
6 Mos. '08
current assets as of Dec. 31 1909 are
general knowledge by any
Metropolitan Street Ry. Co.—Statement of Income for Calendar Year 1909.
Gross earnings
$13,258,412
Operating expenses ($8,456,017) and taxes ($1,319,372)
9,775,388
Less ,Income
SIX MONTHS ENDING NOV. 30 1909.
$
-
1
vestors.
The following analysis can be verified from
one, familiar with the situation;
LXXXX.
American Smelting & Refining Go.
Annual Reports.—The following is an index to all annual
reports of steam railroads, street railways and miscellaneous
companies which have been published since Dec. 25.
This index, which is given
monthly, does not include
reports in to-day’s “Chronicle.” Reports in Volume 89
are
[VOL.
for contingencies, $187,559.
deducting $1,378,141 appropriated for
preferred stock, 65^%, (V. 89,
date.
p.
230.)
arrears of dividend to July 1 1909
The dividend is now fully paid up to
Note.—There is a contingent liability on account of guarantee of
000 Haselton Steel Tube Co. notes.—V. 89, p. 1071.
j j ^ j* 3 :•
$1,500,,
A
J
Jan. 29
THE CHRONICLE
1910.J
United States Steel Corporation.
(Earnings for the Quarter and Year ending Dec. 31 1909.)
The following financial statement of the corporation and
its subsidiaries for the quarter ending Dec. 31 was given out
on Tuesday after the regular monthly meeting of tne direc¬
tors.
The “net earnings” as here shown were arrived at
after deducting each month the cost of “ordinary repairs
and maintenance of plants, employees’ bonus funds and in¬
terest on bonds and fixed charges of subsidiary companies.”
We append the results for the year ending Dec. 31 in 1906
to 1909, inclusive.
INCOME ACCOUNT FOR THREE MONTHS ENDING DEC. 31.
1009.
1008.
1007.
Net earnings
*$40,071,309 $20,246,675 $32,534,102
Deduct—
*$438,914
$248,272
$494,523
*6,131,963
4,065,550
5,880,324
1,431,639
5,683,275
500,000
5,042,354
1,360,609
Adjust’ts in sundry accts. charged off. Cr.562,874
Cr. 94,035
5,870,231
1,307,731
681,515
Sink, funds on bonds of subsid. cos..
Depreciation and reserve funds
Special'improve’t & replacem’t funds
Int. on U. S. Steel Corp. bonds
Sink, funds on U. S. Steel Corp
Balance
Dividend on preferred stock
Dividend on common stock
-
$13,319,966 $12,431,750 $14,546,275
$27,651,343 $13,814,925 $17,987,917
-
(1 H%)
$6,304,919
$6,304,919
$6,304,919
Surplus for the quarter
$12,451,130
On account of expenditures made and
$4,968,493
$9,141,485
-
(1 %)8,895,294(^)2541,513(^)2541,513
301
Kentucky Coal Co.—We were advised that the property of the West
Kentucky Coal Co. would be advantageous in the operation of the public
utility plants in St. Louis. This expectation will not be realized, as coal
cannot now be mined at these mines and delivered in St. Louis in compe¬
tition with Illinois coal at present prices.
The policy of the company must
therefore be directed to the development of the properties and the increase
of the output, so as to compete with other mining companies in the com¬
mercial field.
Plans which it is hoped will accomplish this result are now
under careful consideration.
INCOME ACCO UNT FOR CALENDAR YEARS.
1909
1908.
1907.
Receipts—
$
$
$
Interest556,842
409,541
317,120
Dividends
1,153,539
1,287,539
1,265,339
Other profits
313,036
26,106
28,500
Total.
property
plants, construction ana dis¬
charge of capital obligations
Reserve to cover adv. mining royalties
Salaries, legal
Balance, surplus
31
’09.-5,927,031
Sept. 30 '09.-4,796,833
June
Mch.
Dec.
Sept.
June
Mch.
Dec.
Sept.
June
30 ’09.-4,057,939 Sept.
31 ’09.-3,542,595 June
31 ’08.-3,603,527 Mch.
30 ’08.-3,421,977 Dec.
30 ’08..3,313,876 Sept.
31 ’08.-3,765,343 June
31 ’07.-4,024,553 Mch.
30 ’07..0*425,008 Dec.
30 ’07.-7,603,878 Sept.
$4,968,493
Tons.
31 ’07.-8,043,858 June
31 ’06.-8,489,718 Mch.
30 ’06.-7,936,884 Dec.
exp.,
1908.
1909.
First quarter..
22,921,268
April
May
5,052,743
5,709,428
7,466,834
18,229,005
8,163,244
9,661,228
Total
Balance
-
Change in value of assets
as readj’d Dec. 31...
Tons.
30 ’04.-3,192,277
31 ’04.-4,136,961
31 ’03.-3,215,123
1907.
1906.
12,838,703
12,145,815
14,137,974
39,122,492
6,761,680
0,021,279
7,482,797
14,600,838
16,056,832
14,846,035
11,856,375
10,958,275
13,819,840
12,581,902
14,041,601
8,599,630
9.152,311
9,354,333
45,503,705
13,804,167
15,279,173
14,720,945
40,125,033
12,242,098
13,158,860
12,713,066
38,246,907
27,106,274
43,804,285
38,114,624
14,048,205
13,711,765
*13,211,339
9,415,668
8,756,729
8,074,278
17,052,211
10,467,253
5,014,728
14,984,926
13,482,464
13,282,736
131,479,975
*
See foot-note to quarterly figures
$
13,501,530
26,246,675 32,534,192 41,750,126
91,847,710 160,964,674 156,624,273
above.
INCOME ACCOUNT FOR CALENDAR
1909.
*
YEARS.
1908.
1907.
1906.
$
$
$
.
Total net earns, for year
(see introductory re¬
marks)
131,479,975
91,847,710 160,964,674 156,624,273
Deduct—
Sinking funds
7,354,817
Deprec. & reserve funds 21,991,800
23,617,294
6,973,273
15,377,111
23,862,648
mining royalties
3,200,000
Spec. Imp.& replace’t fd.
Charged off for adjust’ts Cr.562,874
Cr.94,035
Interest
Reserve
to
cover
Dividends
on
7,115,258
22,241*983
22,860,353
6,812,063
21,253,272
22,839,851
3,500,000
7,500,000
681,515
90,502
adv.
Total deductions
Balance
70,601,037
60,878,938
46,118,997 110,399,111 108,495,688
45,728,713
50,565,563
48,128,585
Stocks—
Preferred, 7%
25,219,676 25,219,676
25,219,676 25,219,676
(4)20332100 (2)10166050 (2)10166050 (2)10166050
ommon
Total dividends
45,651,776
Undiv. earns, for year.. 15,327,162
35,385,726
10,342,987
35,385,726
15,179,837
As to extra dividend on common stock, see a
page.—V. 89,
p.
35,385,726
12,742,859
subsequent
1674.
(The) North American Company.
{Report for Fiscal Year ending Dec. 31 1909.)
Campbell, Jan. 26 1910, wrote in brief:
President James
Balance Sheet.—In accordance with established precedent, the securities
and assets of the company have been re-valued as of Dec. 31 1909.
The
stocks owned are principally those of street railway, electric light and gas
companies, whose management Is under our supervision.
The company sold at the net price of 97
of par ($100 a share) its
holdings in the Laclede Gas Light Co., consisting of 74,408 shares of the
syndicate of St. Louis people.
This
books at 93 H % of its par value, and
the profit on the sale amounted to $286,570.
The bonds owned are the “refunding and extension mortgage’’ bonds
of the Milwaukee Light, Heat & Traction Co.
Loans and advances are largely those to subsidiary companies, together
with the amount of the purchase price of the capital stock of the Laclede
Gas Light Co. remaining unpaid.
Of the $5,000,000 5-year 5% collateral trust notes dated May 1 1907,
$2,584,000 have been canceled, leaving outstanding $2,416,000.
The company has no contingent liabilities except an instrument of guar¬
anty dated March 1 1906, whereby it has guaranteed the payment by the
West Kentucky Coal Co. of the interest upon $2,000,000 first mortgage
bonds and of the sinking fund payments pertaining thereto; $37,000 of
these bonds have been retired through the sinking fund leaving $1,963,000.
Subsidiary Companies.—There are appended statements of earnings and
assets and liabilities of the various subsidiary companies.
common stock, on July 1 1909 to a
stock was carried on this company's
1,586,576
def534,184
D.2,290,366 Ic.1,721,500
__
Surplus or deficit
sur217,211 surl,449,163 def2,002,934surl ,187,316
Tot. undiv.profits Dec.31
3,662,988
3,445,777
1,996,614 3,999,548
RESULTS OF SUBSIDIARY COMPANIES FOR YEAR ENDING DEC. 31 1909
*MilJZl.Ry Un.Rys.of Un.El.Lt.
Detroit SLL.Co.G. West. Ky.
St. Louis.
& P.Co. EdisonCo.dkKingE.Co. Coal Co.
$
$
$
$
$
$
5.709,946 11,111.431 3,085,614 2,199,143 170,337
500,342
& Lt. Co.
Net income
Pref. stock div
Common stock div.
771,552
270,000
315,000
1,285,071
849,160
Balance, surplus.
516,607
186,552
435,911
748,376
D.10,265
a235,066
100,000
312,863
*
Includes Milw. Elec. Ry. & Light Co., Milw. Light, Heat & Trac. Co., Mllw.
Central Heating Co., Racine Gas Light Co., Kenosha Gas & Electric Co. and Watertown Gas & Electric Co.
a Includes $14,304 sinking fund,
b There was also loss
of $105,403 to river fleet written off, leaving total loss for year of $356,403.
BALANCE SHEET DECEMBER 31.
1909.
$
Assets—
1908.
$
21,584,938 28,566,216
4,520,833 4,520,833
Loans
8,698,082 1,975*523
Office A misc.prop.
1
1
Accts. receivable..
258,141
92,764
Cash.
1,670,426
669,525
Stocks
Bonds
Total
—V. 89. p.
36,634,490
20,265,756
*40,971,309
D.79,079
1,323,533
sur287,432
26,283 D.6251,331
29,340,491
12,530,770
12,437,754
13,278,383
Fourth quarter.
1,727,128
274,023
sur296,290 surl,449,163
412,863
Second quarter.
July
August
September...
Total for year..
15,000
3,960
(3 H) 1,117,211 (5) 1,487,305
(5) 1,489,605
Dividends.
41,726
15,443
11,510,019
.
90,064
5,247
924,565
511,702
June
Third quarter
OctoberNovember
December
88,451
5,260
97,611
4,083,253 1,582,580
2,798,182
834,204
NET EARNINGS FROM OPERATIONS FOR YEAR ENDING DEC. 31.
7,989,327
5,261
176,800
Gross income
2,029,526
Interest accrued.-.l,257,974
30 ’04-.3,027,436
March
91,962
5,240
128,194
$3,141,485
30 *06—6,809,589 Sept. 30 ’03.-3,278,742
7,262,605
7,669,336
104,029
&c_
7,028,178 1,503,034 1,274,578 128,611
31 ’06.-7,018,712 June 30 ’03.-4,666,578
31 ’05.-7,605,086 Mch. 31 ’03.-5,410,719
30 ’05.-5,865,377 Dec. 31 ’02.-5,347,253
30 ’05.-4,829,655 Sept. 30 ’02.-4,843,007
31 ’05.-5,597,560 June 30 ’02..4,791,993
31 ’04.-4,096,203 Nov.
1 ’01-.2,831,092
January
February
1,052,392
Oper.exp.,taxes&res3,680,420
UNFILLED ORDERS ON HAND.
Dec.
1,610,965
6,000,000
•This amount may be slightly changed on completion of audit of accounts
for the year.
The complete annual report will be submitted at the annual
meeting In April 1910 or earlier.
Mch.
Dec.
1,723,180
3,200,000
$4,251,130
Tons.
2,023,418
Taxes
Interest
Losses
Gross revenue
5,000,000
$
103,223
923,907
25,262
Deduct—
to be made for additional
new
1906.
36,732,421 35,824,862
Liabilities—
Capital stock
1909.
1908.
$
$
29,793,300 29,793,300
Coll, trust notes.. 2.416,000
do
int. accrued
21,233
Dividends accrued.
372,416
Dlvs. unclaimed..
4,416
Funds constit. cos.
375,168
Accounts payable.
86,900
Undivided profits. 3,662.988
Total
2,500,000
21,708
3,569
60,508
3,445,777
36,732,421 35,824,862
1486.
Consolidated Gas
Company of New York.
{Report for Fiscal Year ending Dec. 31 1909.)
The report submitted at the annual meeting on Jan. 24
1910 said in brief (compare full statement to Public Service
Commission for year 1908 in V. 89, p. 1664):
Effect of Compulsory Price Reduction.—A comparison of the
average
sales
of gas per meter in use in 1909, with gas at 80 cents, with the average
annual sales per meter in 1905, when gas was $1, shows that there was
no increase in the average sales per meter.
In other words, the additional
sales of gas in 1909 over 1905 were due entirely to the Installation of addi*
tional meters, as the percentage of increase in the number of meters in
use and the percentage of increase in sales were identical.
A large per¬
centage of the Increase occurred in the Harlem district where the increase
in population was exceptionally great.
Such increase in the business as the company has realized during the
past four years has required not only an additional investment in manufac¬
turing plant but also in mains, services, meters and appliances, and has
added almost ratably not only to the cost of manufacture but to the cost
of distribution, including the repairs to the additional distributing system,
additional expenses for collecting, and other items of operating cost, together
with additional taxes on the additional property and earnings.
The comparison of sales per meter also establishes the fact that con¬
sumers have received the full benefit of the reduction in the
price of gas
and that the company has failed to realize the advantage, which it was
alleged it would realize, in the more liberal use of gas at the lower price.
The opinion was expressed by experts several years ago that In New York
City the gas sales per capita had reached the point of saturation.
This was
equivalent to saying that the sales “per meter’’ had reached that point.
The company’s experience during the four years mentioned would seem to
confirm this opinion, and, furthermore, to establish the fact that a large
percentage of Its future growth will be due to the increase of population,
which in turn must be attended by a proportionate increase of Investment in
gas manufacturing and distributing plant and operating expenses.
Gas Appliances.—During the past year No. 29 East 21st St., five stories
and basement, was opened to illustrate all styles of lighting and the exhibi¬
tion of gas appliances of every kind, illustrating artistic gas illumination,
cooking appliances, &c.
As a result of efforts to promote the utilization of gas by the sale and
rental of gas appliances for commercial and domestic purposes, there were
installed during the year 1909 51,836 appliances.
The number of gas
appliances installed in 1909 by all the companies was 93.91Q.
Meters.—The total number of gas meters In use Deo. 311909 was 777,323.
Decision in Eighty-Cent Gas Suit—Refunding of Excess Payments.—On
Jan. 25 1909, the date of the last annual report, the Supreme Court of the
United States had made a decision in the so-called 80-cent gas suit upholding
the contention of the company on several important points, but deciding
that the Act could not at that time be considered confiscatory.
It was,
however, held that, as lt was possible that a practical experience of the
effect of the Act by actual operation under it might establish the fact
that the company could not obtain a fair return on the value of the gas
property, the company should have an opportunity of again presenting its
case to the Court.
The decree, based on that decision, was not, however,
entered until Feb. 13 1909, and we have therefore had an experience of less
than the necessary 12 months under its operation.
(V. 88, p. 129, 161.)
In accordance with the decision of tne United States Supreme Court,
there has been refunded to consumers during the year $10,417,121, involving
the preparation and auditing of over 1,360,000 vouchers, which necessitated
the employment of over 750 men.
This stupendous undertaking is now
practically completed.
Special Franchise Tax Law.—The decision of the Appellate Division of
the New York Supreme Court in the Jamaica water case (V. 89, p. 1413)
was to the effect that unless the net earnings of the Water Co. were equal
to at least 6% of the value of Its tangible property, the intangible property
or franchise rights would have no value for tne
purpose of taxation.
The
decision of the Court of Appeals in that case, which was made in October
last, was to the effect that, although this rule was a proper one in that par¬
ticular case, it was not inflexible, and could not be applied under all condi¬
tions.
Whether the Intangible right of the Gas Co. can be assessed for
certain years is the principal point of difference now existing between the
and the State and city authorities.
Immediately after this decision by tbe Court of Appeals, negotiations
entered into by the company looking towards tne settlement of all
existing claims between the city and the company growing out of the
company
were
302
THE CHRONICLE
amount due from the city for lighting the streets and public buildings and
out of the amount due from the company for special franchise taxes.
The
dty has not paid any of its lighting bills since 1902 and the amount now
due from it to the company is larger than the amount due from the company
to the city for special franchise taxes.
Output in 1909.—The combined sales of the Consolidated and affiliated
gas companies during 1909 increased 1,632,371,428 feet, or 6.76%.
The sales of electric current increased 14,406,392 k. w., or 5.77%.
Financial.—There was expended during 1909 for construction of gas and
electric plant the sum of $6,777,275.
This company has advanced up to Dec. 31 1909 for construction purposes
to the affiliated gas companies $3,976,422; and to the electric companies
,
$15,745,000; a total of $19,721,422.
Of $403,100 convertible debentures outstanding Jan.
have been converted, leaving a balance unconverted of
The $5,000,000 collateral trust loan which matured
canceled and the $5,000,000 collateral trust loan which
1909 was renewed.
1 1909, $329,500
$73,600.
Feb. 1 1909 was
matured Aug. 10
No income account is furnished
sufficiently complete to
permit of comparison with the figures for 1908 in V. 89, p.
1664.
The only details given are the following:
INCOMPLETE INCOME ACCOUNT FOR YEAR 1909.
company from its gas business during the
year 1909 (after deducting the reserve for renewals and
contingencies), according to figures now available
$1,894,253 53
Add for the purpose of determining the earnings applicable
to the value, based upon the decision of the U. S. Supreme
Earnings of the
Court, of the tangible and intangible property employed in
its gas business, viz.: $73,697,800, the surplus earnings of
Astoria Light, Heat A Power Co
230,512 83
the investment in that company
624,801 80
And the interest received
on
Total earnings from the gas business for the year 1909
$2,749,568 16
[Equivalent to about 3.73 % on the value of the tangible and
intangible property employed in the manufacture and
distribution of the gas sold by the company.]
Dividends paid on the company’s capital stock at the rate of
4%, amounted to
$3,987,565, 00
Dividends and interest received
on stocks and bonds owned
and on advances made to affiliated gas and electric compan¬
ies (excluding Interest on the Investment in Astoria Light,
Heat A Power Co.)
$4,455,313 46
Interest paid during the year on funded and other debt
$473,998 03
BALANCE SHEET DECEMBER 31.
1909.
Assets
$
Plant & prop... 48,948,075
Stocks & bonds
of other cos.. 64,174,436
Advances to oth.
companies
Cash
Accts. receivable
Material* supp.
John A. Shields,
19,721,422
1,856,877
6,811,525
871,319
1908.
$
1909.
$
Liabilities—-
48,616,526 Capital stock
Bonds & notes.
Bills
&
accts.
.
53,967,134
and
payable
28,538,724
accr. charges.
7,899,428
6,380,698 Stock and bond
6,527,051
premiums
13,951,397
690,551 Renewal & re¬
serve funds
5,980,912
a4,823,486 Gas sales susp..
Proflt and loss..
5,933,317
“
.
Spec. Master
99.784,000
8,834,600
.
1908.
$
99,454,500
11,639,100
9,494,693
13,951.397
4,765,331
67,193,974
3.045.175
[VOL.
LXXXX
Abstract of Letter from Pres. S. Q. Latta, Dyersburg, Tenn., Dec. 311909.
These bonds are part of an issue of $10,000,000 and are secured by an
absolute first mortgage on all property now owned or hereafter
acquired.
The company intends to construct a line of standard steam railroad from
a point on the Ohio River to and
through Memphis, Tenn., to Jackson,
Miss. This will furnish a water level road from the Ohio River to
Memphis,
Tenn., and Jackson, Miss., connecting at the Ohio River with the
Chicago
Burlington & Quincy, the Chicago & "Eastern Illinois and the New York
Central lines, and at Jackson with the different roads for New Orleans.
The section, Tiptonville to Hickman,
Ky., 21 miles, is now under construc¬
tion, and when completed will connect at Hickman with the Nashville
Chattanooga A St. Louis Ry. At Dyersburg, Tenn., the road connects
with the Illlnoi sCentral.
Arrangements have been made for entrance into
and ample terminal facilities
in the city of Memphis, with a present
popu¬
lation of 175,000.
At no time will the company sell its bonds on new sections of
road be¬
fore the completion and operation of the same.
The company has at present in
operation 31 miles of road, from Dyers¬
burg, Tenn., to Tiptonville, Tenn., against which the present issue of
$350,000 first mtge. bonds is outstanding.
This road was placed In opera¬
tion July 1907 and the
earnings have been as follows:
Results on First 31 Miles—Years
ending June 30 1908 and 1909 and Four
Months ending Oct. 31 190®
c
1908-09 4 mos. ’09.
1907-08
Gross earnings
$57,693
$68,113
$35,621
Net earnings, after taxes
$24,650
$27,292
$16,005
Interest on $350,000 of bonds
$17,500
$17,500
$5,833
The first two years here cover the extreme business
I feel
depression.
confident that the proposed extensions will be at least as
productive of
earnings as the mileage now operated. The territory traversed from the
Ohio River to Memphis and Jackson is one of the most fertile
sections of
the country, being
practically all located in the Mississippi Valley. The
outgoing tonnage consists of cotton, corn, miscellaneous farming products,
cottonseed oil, and timber.
The incoming tonnage consists of machinery,
farming implements and general mercahndise.—V. 90, p. 108.
_
Chicago North Shore Street Ry.—Deposits—Time Ex¬
tended.—Of the $675,000 first mortgage bonds, about
77%
have been deposited with the Illinois Trust &
Savings Bank
deposits will be re¬
90, p. 166.
Chicago Railways.—Bonds Offered.—The National City
Bank and N. W. Harris & Co.,
both of New York, offered
for sale this week at 101 and interest
$6,000,000 first mort¬
gage 5% gold bonds, dated Feb. 1 1907, due Feb. 1 1927.
of Chicago, as
depositary and further
ceived to Feb. 1.
Compare plan, V.
Abstract of Letter from Chairman Henry A. Blair, Chicago, Jan. 24 1910.
I take pleasure in giving you the
following information:
Capitalization.
First M. bonds (additional amounts issuable only under con¬
servative restrictions—-see below)
$25,000,000
Consolidated (closed) mortgage bonds, series A, B and C, and
debenture notes issued to acquire existing
properties and
provide working capital
1
36,205,994
Capital stock represented by four series of participation cer¬
tificates having a present market value In excess of
8,500,000
Based upon the present market value of the stock,
participation certifi¬
cates and the securities junior to the first
mortgage 5s, there is an equity
in the property of more than $41,000,000.
Each first mtge. bond is certified by the City Comptroller
as being entitled
to a first
,
...
Total...
142,383,654 149,544,170
Total
142,383,654 149,544,170
a Amount deposited with the U. S. Court
against a reserve of 20c. per M. cu. ft.
sold since May 1 1906.
6 The total amount reserved at 20c. per M. cu. ft. sold
since May 1 1906.—V. 89, p. 1,664.
GENERAL INVESTMENT NEWS,
RAILROADS INCLUDING ELECTRIC ROADS.
Atchison Topeka & Santa Fe Ry.—Bond Payment.—The
$2,500,000 of series “H” 4% debentures of 1902, due Feb. 1,
will be paid on and after that date upon presentation at the
office of the company, 5 Nassau St., this city.—V. 89,p. 1222.
Atlantic Coast Line Co. of Connecticut.—New Stock Au¬
thorized.—The shareholders on Jan. 26 approved the propo¬
sition to issue $5,040,000 new stock for the purposes stated
in V. 89, p. 1666.
Aurora Elgin &
Chicago RR.—Sale of Bonds.—The com¬
pany, it is learned, has sold to Hayden, Miller & Co. of Cleve¬
land $550,000 of its “first and refunding” 5%
bonds, making
the amount of
V. 89, p. 1595.
these
bonds
outstanding
$1,950,000.—
Brooklyn Rapid Transit Co.—New Directors.—Bernard
Gallagher has been elected a director to succeed the late
E. H. Harriman, and C. D. Meneely, long
Secretary and
Treasurer, to succeed the late William Seibert as director for
year.—V. 90, p. 166.
Chicago Burlington & Quincy RR.—Bonds Called.—
Eighty-nine bonds of $1,000 each and 17 of $100 each, is¬
sued under the Denver extension
mortgage due Feb. 1 1922,
have been drawn for redemption on Feb. 1 at
par at the New
England Trust Co., Boston, trustee.—V. 89, p. 1596.
Chicago Consolidated Traction Co.—Deposits.—Referring
to the announcement by the
reorganization committee,
Charles G. Dawes, Chairman, of the
adoption of a plan
of reorganization dated Jan. 1 1910 (see outline in V.
90,
p. 166), the Harris Trust & Savings Bank, depositary,
204 Dearborn St., Chicago, and the Central Trust Co. of New
York, sub-depositary, 54 Wall St., New York, give notice
that they are now prepared to receive
deposits of the fol¬
lowing securities under the provisions of the plan:
one
Chic. Elec. Transit Co. 1st M. bonds.
North Chic. El.Ry.Co. 1st M. bonds.
North Side El.St.Ry.Co. 1st M. bds.
Evanston El. Ry. Co. 1st M. bonds.
—V. 90, p. 166.
Chic. A Jeff. Urb. Tran. Co. 1st M bds*
Chic.No.Shore St.Ry.Co. 1st M. bds.
Chic. No. Shore St. Ry.Co.
cap. stk.
Chic. Cons. Traction Co. consols.
Chicago Memphis & Gulf RR.—Bonds Offered.—Julius
Christensen, Philadelphia, is offering at 95 and interest the
first mortgage 5% gold bonds,dated Jan. 1 1910 and due
Jan. .1 1940, but redeemable as a whole, but not
part, at
105 and int. on any interest date upon
proper notice.
Semi¬
annual interest payable in New York at Bankers’
Co., trustee.
A circular
Trust
says:
Financial
Statement.
Capital stock, authorized, $1,000,000; outstanding, fully paid $300,000
Total authorized bond issue, $10,000,000; present issue,
covering 31
miles of standard steam railroad,
Dyersburg to Tiptonville
350 000
The section, Tiptonville to Hickman, Ky., 21 miles, is now
under construcReserved for Memphis terminals, Ac
$1,750,000
Reserved
for new construction at not to exceed 85%
of cost, but In no event to exceed $20,000 per mile
of single main-line track, exclusive of sidings, Ac..
7,900,000
lien
on
the entire property as provided in the franchise ordinance.
All of the proceeds of the 1st mtge. bonds must be
applied to extensions and
Improvements under the direct control of Supervising Engineers, one repre¬
senting the company, one the city and the third the company and city,
jointly.
Rehabilitation will be practically completed when the proceeds
of-this issue of 1st mtge. bonds have been expended and the valuation on
the property as fixed by the city will then be not less than
$55,779,875,
against which there will be outstanding $25,000,000 1st mtge. bonds, ora
continuing minimum equity of at least $30,779,875.
Earnings for Year ending Jan. 31 {Dec. 1909 and Jan. 1910 Partly Est.).
1910.
Gross earnings
Oper.
1909.
1908.
$12,442,600 $11,037,071 $10,560,572
exp., including taxes A maint.
8,709,820
7,725,950
7,392,400
Net earnings
$3,732,780
Annual interest charge on $25,000,000
1st 5s, including present issue
*$1,250,000
Bal. after int.
on
$25,000,000 1st 5s_
$3,311,121
$3,168,172
$2,482,780
_
•The actual interest paid amounted to only $888,000, leaving a balance
of $2,844,780.
The company owns arid operates, without surface competition, 308 miles
of electric railway, measured as single track, serving the “down-town” as
well as the North and West Sides of the city, and under the terms of the
franchise these properties are being equipped and mairitained in a manner
which will ultimately give to the territory (population estimated in excess
of 1,600,000 and constantly growing) the finest service that
money and
engineering ability can provide.
In the two years since rehabilitation
began, 175 miles of track have been replaced with grooved rails, 129 lbs. to
the yard, and the right of way on these streets repaved with granite or
creosoted blocks.
At the present time the company Is operating more than
1,200 double-truck cars, of which 650 are the most improved type of “payas-you-enter” cars and 328 of our cars are being remodeled into “pay-as-
you-enter”
cars; 350 new additional “pay-as-you-enter” cars are under
construction by the Pullman Company and will be in operation within the
next few months.—V. 89, p. 720, 348.
Chicago Rock Island & Pacific Ry.—Listed.—The New
Exchange has listed $3,500,000 additional re¬
funding mortgage 4% bonds, due 1934, issued for improve¬
ments which were recently purchased and re-sold by Speyer
& Co.
(V. 90, p. 236, 108), making the total listed to date,
$83,422,000.
Earnings.—For 5 months ending Nov. 30:
Five
York Stock
.
Operating
Net Oper.
Taxes
Other
Interest
Balance,
Mos.
Revenue.
Revenue.
Paid.
Income.
& Rentals,
for Stock.
1909 .$27,922,493 $9,352,130 $1,001,146 $244,153 $4,246,601 $4,348,530
1908
24,962,903
7,831,384
909,446
From the surplus as above in the five months of 1909 was paid the 1 H%
quarterly dividend on Oct. 1 1909, leaving a balance of $3,038,529.—
V. 90, p. 236, 166.
.
Chicago & Southern Traction Co.—Receivership Asked.—
was filed in the Circuit Court at
Chicago on Jan. 24
by the Western Trust & Savings Bank, as trustee of a note
for $300,000, asking for a receivership for the traction com¬
pany on the ground of insolvency.
A bill
An order was also asked
restraining the company from paying alleged
indebtedness to the Detroit A Toledo Construction Co.
Some of the
directors, are also directors in the Construction Company and, it Is claimed,
have voted to turn over to the Construction Company stocks and bonds
amounting to $164,696, for extra work never performed.—V. 85, p. 283.
Cleveland
(Electric) Ry.—Report.—The receiver reports
ended Dec. 31 1909 as follows: Gross earnings,
$6,311,021; operating expenses, $3,794,355; net earnings,
$2,516,666; other income, $38,366; total income, $2,555,032;
taxes, $291,873; interest, $464,569; other deductions, $11,313; total charges, $767,753; net income, $1,787,277, com¬
pared with $952,829 the previous year, including four
months’ operations by company, 6 months by the Municipal
Traction and 2 months under the receivership.—Y. 90, p.167.
for the year
i
JAN. 29
Columbus (0.) Railway & Light Co.—Report.—For
ending Dec. 31:
Cal.
Year.
Gross
Earns.
Other Charges A
Income. Deprec’n.
Net
Earns.
Dividends
Paid.
year
Balance,
Surplus.
1009.-$2,577,202 $1,287,069 $17,866 $1,044,582 (2 J<)$125,000 $135,352
968,018
(2)100,000
47,124
also deducted $75,877 paid to em¬
ployees under the profit-sharing plan, leaving a balance, surplus, for the
1908.. 2,281,951
1,096,347
18,795
Prom the earnings of 1909 there was
year,
of $59,475.—V. 89, p. 666.
Erie Railroad.—New Member of Executive Committee.—
Elbert H. Gary, Chairman of the United States Steel Cor¬
poration, has been elected a member of the executive com¬
mittee.—V. 88, p. 1560.
Port Smith
Light & Traction Co.—Bonds—Earnings.—
Montgomery, Clothier & Tyler and Henry & West, Phila¬
delphia, have recently been placing at 95*4 and interest a
block of first mortgage 5% gold bonds dated Dec. 15 1904,
being part of an issue of $1,500,000 (closed mortgage).
Results
Gross earnings
Net, after taxes
303
THE CHRONICLE
1910.]
for Year ended Dec. 1 1909.
..$385,3591 Interest charges
$75,000
$89,687
Condensed Extracts from Letter of H. M. Byllesby & Co., Chicago,
Managers, Dec. 23 1909.
Franchises.—This company operates under 50-year franchises all free
from objectionable features, (1) In Fort Smith, covering natural gas, arti¬
ficial gas, electric light and power and street railway, all expiring in 1953
and 1955; and (2) in Van Buren, covering natural and artificial gas, electric
light and power, expiring 1957.
Capitalization.—Authorized and all issued, first (closed) mortgage 5s,
$1 ,500,000; preferred stock, $650,000; common stock, $950,000.
Earnings, Years ending Dec. 31 1905 to 1908, and Year end. Nov. 30 1909.
delphia on Jan. 25 ordered the property to be sold under
foreclosure, the upset price to be $350,000. On Jan. 28 the
decree was vacated for lack of proper notice.—V. 90, p. 109.
Illinois Traction Co.—Consolidation—Offering of Guar¬
anteed Bonds.—See St. Louis Springfield & Peoria RR. below
—V. 89, p. 721.
Eongston (N. Y.) Consolidated (Electric) Ry.—Second
Mortgage Authorized.—The Public Service Commission, 2d
District, on.Dec. 18 1909, authorized the company to make a
second mortgage to secure an issue of $250,000 30-year 5%
bonds and to issue at once $56,000 bonds, to net the company
not less than 80% of the par value; also its notes in the sum
of $17,360.
*
The proceeds of the sale of the bonds and notes are to be used to recon¬
struct Its railroad property on Broadway, North Main Street, Wall Street
and Main Street, and for the paving of that portion of the streets named
occupied by the railroad.
Whatever sum is realized from the salvage of
plant or property replaced in the course of the construction shall be used
In part payment for the new construction.
Compare V. 89, p. 529.
$164,687[Surplus
&
Michigan Southern Ry.—Bonds.—The
(1) the selling of
$15,000,000 25-year 4% gold bonds of 1906 at not less than
92, to provide for the payment of $15,000,000 3-year 5%
gold notes due Feb. 1 and (2) the guaranteeing and sale of
$11,000,000 first mortgage 4% gold bonds of the Jamestown
Franklin & Clearfield RR. Co. bonds on account of improve¬
ments.
Compare V. 90, p. 167, 236.
1905.
1906.
1907.
1908.
1908-09.
Manila
Ry. (1906), Ltd —Listed in London.—The London
Gross
$309,867
$335,513
$194,046 $231,828
$385,359
Net
Stock Exchange has listed a further issue of £300,000 4%
89,151
125,039
140,956
95,379
164,687
We expect net earnings for 1910 of not less than $190,000 and not less
“A” debenture bonds and £50,000 additional 4% “B” de¬
than $240,000 for 1911.
benture bonds, making the total amount of each class listed
The property Includes 21 miles of street railway track, with 32 cars; 90
miles of electric pole line, the electric load, exclusive of street railway, being
£2,000,000.—Y. 88, p. 1313.
equivalent to 62,500 16-c. p. lamps; 58 miles of gas mains; powerhouse,
brick and up-to-date; generating capacity, with new 1,000-k. w. unit just
Norfolk & Western Ry.—First Quarterly Distribution, &c.
completed, 4,000 kilowatts; park of 110 acres.. Gas consumers Nov. 30 —The directors
recently decided to pay all dividends quar¬
1909, 4,009, against 790 Jan. 1 1905; electric consumers, 2,359, against 738;
city arc lamps, 280, against 120; stationary motors, 171, against 78.
terly,
and
on Jan. 26 they declared a regular
accordingly
Neva Note Issue and Preferred Stock.—As of Dec. 1 this year, the company
quarterly
of
on the common stock, payable
dividend
134%
shows a replacement value of $2,141,131.
The proceeds from the sale of
March 18 to holders of record Feb. 28, being at the same rate
$650,000 3 J^-year 6% notes, as well as from additional preferred stock to
be sold, has been in part, and will be further, expended upon the properties,
per annum (5%) as the semi-annual payment last October.
thus Increasing the already large cash equity, and will retire $50,000 out¬
standing bonds of the Van Buren properties, which properties will be pledged
under themtge. securing the first mtge. 5s of 1944.
(V. 82, p. 928.)
Lake
Shore
Public Service Commission has sanctioned
The board, it Is stated, also authorized the construction of 61 miles of
additional double track and a low-grade belt line around Petersburg, Va.;
also the purchase of new equipment to cost about $3,700,000.—V. 90, p.237.
Notes Offered.—William P. Bonbright & Co., New York,
Pennsylvania Company.—Stock Dividend of About 33 1-3%.
Ac., are offering at 97 and interest a portion of the new issue
of $650,000 6% coupon notes running from Jan. 1 1910 to —This company, whose $60,000,000 of capital stock is all
owned by the Pennsylvania RR. Co., has declared a stock
July 1 1913, but subject to call on 30 days’ notice at i01 and dividend
of $16.67 per share (par $50), calling for the issu¬
are
interest.
These notes
secured by a general mortgage
ance of about $20,000,000 additional stock.—V. 90, p. 237.
on the property, preceded only by the $1,500,000 first mort¬
Pennsylvania RR.—Stock Dividend from Controlled Com¬
gage bonds.—V. 90, p. 236.
Grand Trank .Pacific Ry.—Offering of Debenture Stock pany-Stock Increase.—See Pennsylvania Company above
and Pittsburgh Cincinnati Chicago & St. Louis Ry. below.—
with Interest Guaranteed.—The company announced by ad¬
V. 89, p. 1668.
vertisement in London, under date of Jan. 13, that subscrip¬
Pere Marquette RR.—Listed.—The New York Stock Ex¬
tions would be received at 92)4 until Jan. 19 for an addi¬
tional issue of £1,000,000 4% debenture stock (ranking pari change has listed the company’s stock and has authorized
with £3,000,000 of such stock already issued), subject
redemption at £105% by the company at any time after
March 1 1936 on one year’s notice.
Interest M. & S. In¬
terest will be guaranteed by the Grank Trunk Ry. Co. of
Canada, subject to the terms of an agreement referred to
below, being substantially the same as in the guaranty of
interest on the £3,000,000 4% debenture stock heretofore
issued (V. 84, p. 570).”
The advertisement says in brief:
passu
to
The proceeds will be applied in the purchase of additional rolling stock,
which will be delivered during the current year and will be required on the
opening of the Prairie Section and the Lake Superior branch.
This stock forms part of $25,000,000 (£5,136,980) in Canadian currency,
or its equivalent in sterling, authorized by Chapter 100 of the Statutes of
Canada, 1906, which the directors
are
empowered to issue in 4% debenture
stock.
The holders of this stock are entitled, pari passu with the holders
of the £3,000,000 stock already Issued and any additional stock which may
hereafter be issued under said Act, to a lien or charge upon the undertak¬
ing, as included in the deed of trust to secure its first mortgage bonds,
and ranking next after such security, and the securities granted or to be
granted to secure the 2nd mort. bonds and Lake Superior branch bonds.
In addition, the Grank Trunk Company have, under agreement dated
Jan. 7 1910, guaranteed the due payment of interest in each year ending
March 1 on the £2,136,980, the balance of the stock which the company is
empowered to issue, but only out of the net earnings of the Grand Trunk
Co. of each year ending Dec. 31 previously, after deducting: (1) Its work¬
ing expenses; (2) all Interest and other moneys payable by the Grand Trunk
Ry. Co., (a) on loan capital or prior charges, or (b) on bonds or liabilities
of any other company under or pursuant to any guaranty (V. 84, p. 57Q).
Subscriptions are payable: £10 per £100 stock on application; £15 on
allotment; £20 on April 15 1910; £25 on June 1 1910; £22 10s. on July 15
1910—£92 10s.
Or the whole on allotment or on the date for any install¬
ment, under discount of 3% per annum.
V. 89, p. 666, 286.
Great Northern Ry.—Sale of Bonds.—-The company has
sold to Baring Bros. & Co., London, and the latter have
already placed, £2,000,000 St. Paul Minneapolis & Manitoba
Pacific Extension 4% bonds, being the remainder of the
£6,000,000 issue authorized in 1890. The proceeds are to be
used chiefly for construction work in progress or proposed.
The bonds have been re-sold by the bankers to investors.—:
V. 89, p. 1596, 1482.
Green Bay & Western RR.—Distribution on Class B De¬
bentures Reduced.—The directors have declared, along with
the usual annual dividends of 5% each on the $2,500,000
stock and $600,000 “A” debentures, a distribution of 34 of
1% on the $7,000,000 class “B” debentures, comparing with
% of 1% paid in Feb. 1909 and y2 of 1% in Feb. 1908. All
these dividends are payable out of the net earnings for the
year 1909 at 40 Wall St., New York, on and after Feb. 7
1910 to holders of record Feb. 5 1910.
Div. Record.
*98. ’99. ’00. ’01. ’02. *03. *04, '05. '06. '07. '08. '09. '10.
3
4
4
4
5
5
5
5
5
5
Stock
%
4
3
4
4
5
5
5
5
5
5
Class‘B’ debs %
H
H
—V. 89, p. 1542.
Class'A'debs % 2H 2H 2H
..
__
__
__
__
__
__
Holmesburg Taeony & Frankford Electric Ry .—Decree
Vacated.—Judge Holland in U. S. Circuit Court at Phila¬
additional amounts to be listed as issued under the
consolidation (V. 85, p. 41, 100) as follows:
Class of Stock—
Now Listed.
First preferred..
Second preferred
Common...
$11,157,600
771,100
15,924,800
plan of
Additional Amts. Total to Be Listed.
$12,200
$11,169,800
299,000
1,070,100
335,300
16,260,100
Earnings.—For the 4 months ending Oct. 31:
Four
Operating
Revenues.
Months—
1909
$5,709,501
1908
1 5,064,909
—V. 89, p. 1668.
Net Oper.
Taxes
Revenues.
Paid.
$1,830,663 $190,578
1,571,990
209,310
other
Interest,
Balance•„
Rentals,Ac.
Surp.
$25,904 $1,267,263 $398,72*
Income.
Philadelphia Co. of Pittsburgh.—Listed.—The New York
Stock Exchange has listed $2,500,000 convertible 5% de¬
bentures due Aug. 1919, which were subscribed for by stock¬
holders and holders of outstanding convertible debenturesp. 1545), with authority to add from time to time,
prior to Jan. 1 1911, $2,500,000 additional, on notice
they have been sold and distributed, making the total
be listed $5,000,000.
(V. 89,
but
that
to
The proceeds of the $2,500,000 debentures already issued have been used
by the company direct or in advances to other companies controlled, for
new construction, equipment, &c., as follows: (a) In street railway de¬
partment, $1,928,230; in electric light department, $252,477; in the natural
gas department. $71,869; total, $2,252,576.—V. 90, p. 168.
Pittsburgh Cincinnati Chicago & St. Louis Ry.—New
Stock.—All shareholders of record Feb. 5, it is announced,
will be permitted to subscribe at par for about $7,000,000
new common stock to an amount equal to 1234% of their
respective holdings.
The right to subscribe will terminate
March 15 and subscriptions are payable between March 5>
and 15.
The proceeds will be used for construction and new equip¬
ment and to pay off loans incurred therefor.
The Pennsyl¬
vania Company on Dec. 31 1908 owned $22,470,700 pref.
and $16,632,900 common stock.
Refunding.—The directors have authorized the sale of
$4,000,000 Series G consolidated 4% bonds to redeem the
$1,967,000 7% bonds of the Jefferson Madison & Indianapo¬
lis Ry., due July 1 1910, and for other capital requirements.
Dividends to be Quarterly.—Dividends, it is announced,
will hereafter be paid quarterly instead of semi-annually.—
V. 89, p. 1668.
Quebec A Lake St. John Ry.—Offer Still Open.—We now
understand that a committee appointed at the meeting of the
bondholders held in London on the 14th inst. has asked the
Canadian Northern to hold its offer open until Feb. 21 (one
account says Feb. 28), which they have agreed to do.
A statement put out by the Can. Nor. says in brief:
The Quebec Go. has always been an unsuccess ul undertaking.
In 1991
its securities were reorganized and $2,433,333 4% prior lien bonds were
authorized, the proceeds being applied to the reinstatement and mainte-
..7
8091
304
THE CHRONICLE
of rolling stock and various other purposes.
After a year’s experi¬
and a careful investigation of the accounts since 1901, we are satisfied
that the position can only be gradually improved, even by the expenditure
of a large amount of new capital, in extending the line and purchasing new
rolling stock, and that not only is there no prospect of the company being
able for some years to come to pay the interest on the prior lien and first
mortgage bonds, but that It has not, in fact, earned the above interest in
We have carefully considered the present value of
any year since 1901.
the assets, and are satisfied that, Including the terminal and hotel prop¬
erties, they are not worth more than the amount of the prior lien bonds.
During the years 1901 to 1906 over $33,000 out of the prior lien bond
moneys were used to pay rent for use of rolling stock and credited to operat¬
ing revenue, thus increasing the gross receipts and large charges to “better¬
ment account” were met from the proceeds of prior lien bonds instead ol
being charged to revenue account, thus decreasing the charges against reve¬
nue.
These charges include such items as interest on notes and mort¬
gages.
We do not wish to criticize the methods of the late management,
out we would show the impossibility of any comparison between the ac¬
counts for the earlier years and the results achieved during the 18 months
that we have had the management.
Compare V. 90, p. Ill, 237.
nance
ence
St. Louis & Northeastern
Louis Springfield & Peoria RR.
Ry.—Consolidation.—See St.
below.—V. 81, p. 976.
St. Louis & Springfield (Electric) Ry.—Consolidation.—
See St. Louis Springfield & Peoria RR. above.—V. 86, p. 422.
St. Louis Springfield & Peoria (Electric) RR. (Illinois
Traction Co.).—Bonds Sold.—N. W. Halsey & Co., New
York, Chicago, Philadelphia and San Francisco, have sold
$1,600,000 of the “first and refunding” 5% gold bonds,
unconditionally guaranteed, principal and interest, by Illi¬
nois Traction Co.
Dated Dec. 1 1909 and due Dec. 1 1939,
but redeemable at 105 on any interest date.
Interest paya¬
ble J. & D. in Chicago or New York.
Authorized, $15,000,-
000; outstanding, $1,856,000. Par of coupon bonds,
reg. bonds, $1,000 or multiples (c*&r*).
Trustee,
Trust & Savings Bank, Chicago, Ill.
The firm’s
tisement appears on another page as a
$1,000;
Illinois
adver¬
record of the offering.
Abstract of Letter from President W. B. McKinley, Peoria, III., Jan. 19 ’10..
An Illinois corporation organized Dec. 1 1909; has acquired and consoli¬
dated the following properties, which have been in successful operation
for several years: St. Louis & Springfield Ry. Co. (V. 86, p. 422), St. Louis
6 Staunton Ry. Co., Tri-City Traction Co. and St. Louis & Northeastern
Ry. Co. (V. 81, p. 976), forming an electrically-operated railroad with 92
miles of main line between Springfield, Ill., and Venice, Ill., opposite St.
Louis, Mo., with branch from Staunton to Litchfield and Hillsboro, 23.6
miles; total, 115.6 miles.
Total population served estimated at 120,000,
exclusive of East St. Louis and St. Louis; estimated pop. East St. Louis,
60,000; St. Louis, 760,000.
Capitalization.
Capital stock (in $100 shares), common, $2,600,000; preferred,
$2,400,000
$5,000,000
“First and refunding 5% bonds, 1939,” total auth., $15,000,000;
reserved, as below stated, $12,690,000; outstanding (this Issue) 1,856,000
Prior lien bonds (St. Louis & Springfield 1st 5s V. 86, p. 422)
454,000
General mortgage 5% bonds, 1939, secured by lien junior to that
of refunding 5s
591,000
Of the $12,690,000 “first and refunding" bonds reserved for various
purposes, $3,700,000 can be issued only for acquisition of similar electric
properties, as fully described in trust deed; $1,600,000 for additions and
improvements to properties proposed to be acquired; $591,000 to redeem
the general mtge. bonds and $6,799,000 for 80% of cash cost of additions
and improvements.
These $12,690,000 bonds, excepting the $500,000
mentioned below, can be Issued only when for the preceding 12 months
gross earnings have equaled five times and net earnings 1 % times the In¬
terest charge on all bonds outstanding and those proposed to be Issued
under this mortgage.
The $500,000 bonds are issuable at any time for
80% of the cash cost for additions and permanent improvements.
The road owned and mortgaged to secure these bonds comprises over 115
miles of standard-gauge main line and about 8 miles of sidings, a total of
123 miles o? track.
Right-of-way averages 65 feet in width.
108 miles of
the total 115 is owned in fee and is operated under the steam railroad law,
7 miles is operated under franchises extending to or beyond 1953.
Construction of most substantial character—2,700 ties to the mile, 70lb. steel rail, continuous joints, liberally ballasted, largely with rock.
The power supply will be protected by a favorable long-term contract with
the Illinois Traction System or subsidiary companies.
Rolling stock of
highest grade, comprising 23 motor passenger cars, 7 motor and 10 trailer
express cars, 10 box cars, 2 refrigerator cars, 112 gondola cars, 12 cars for
construction, &c., and 4 electric locomotives will be acquired; total, 176
cars and 4 locomotives.
Total cost of mortgaged property to date., $4,742,694; replacement value of purely physical property is estimated by inde¬
pendent engineers at $4,636,000.
The road is controlled and operated by the Illinois Traction Co., which
controls a comprehensive system of interurban and local lines
extending
throughout central Illinois and comprising about 400 miles of interurban
main track.
The lines of the St. L. S. & P. RR. traverse rich farming dis¬
tricts, which produce large amounts of cereals and live stock.
Practically
the entire area is underlaid with deposits of coal said to be of the
highest
grade In Illinois. Madison, Montgomery, Macoupin and Sangamon coun¬
ties alone produce over 14,270,000 tons of coal annually from 77
mines,
most of which are in townships on or near the St. Louis Springf’d & Peoria.
The Illinois Traction Co. is now constructing a bridge across the Mis¬
sissippi River between Venice and St. Louis. This bridge will be connected
with a terminal in the heart of St. Louis, adjoining the wholesale
district,
by a line of double-track road through the streets of the city; ties laid in
concrete, 2,700 to mile; rail 125-lb. steel girder.
This bridge and extension
represent an Investment of approximately $6,000,000, and should be com-
Pleted
traffic next
Springfield
eoria and
RR.thrown
open to
year. forThe
&
will have
long-term
contract
the St. Louis
of the
bridge and
a
use
terminals, enabling it to operate through cars directly into St. Louis.
Earnings St. L. Springfield A Peoria RR. Year end. Dec. 31 (Dec. 1909 est.).
„
1909.
,
Gross earningsNet earnings.
Interest on “first and
Balance
$624,996
$207,618
refunding” 5s and prior liens.... 115*500
1908.
$616,097
$184,682
115,500
$92,117
$69,182
refunding” 5s are guaranteed by endorsement on each
bond, unconditionally as to principal and interest, by the Illinois Trac. Co.
-----------
The “first and
Southern
Six
Mos.
Ry. —Earnings —For 6 months ending Dec. 31
Gross
Op.
Revenue.
Net Over
Taxes.
$
Other
Income.
Int.,rents., Add’ns & Balance,
Ac.
Betterm'ts.
Surplus.
$
$
$
$
1909
.29,284,292 9,163,999
1,097,748
7,224,980
31,588
3,005,179
1908
.26,579,125 8,063,531
1,185,516
6,949,071
55,702
2,244,274
Of the total Increase ($1,490,891) in operating
expenses for the six months
ending Dec. 31 1909, 23.38% was in maintenance of way and structures,
53.80% in maintenance of equipment, 22.04% in transportation and 0 78%
in administration.—V. 90, p. 237, 168.
....
New Notes
Offered.—Kissel, Kinnicutt & Co., New York,
placing at 98M and interest (from Feb. 1), to yield about
5.45%, $500,000 of the 3-year 5% gold notes dated Feb. 1
are
1910 and due Feb. 1 1913.
Interest F. & A.
These notes
part of the new issue of $10,000,000 5% notes issued
to provide for the retirement of $15,000,000
5% notes ma¬
turing Feb. 1 1910, of which $5,000,000 had already been
purchased and canceled. Attention is called to the fact
that during the next three years the company will have to
provide for only $2,851,000 of other maturing issues, excludng car trusts.
Compare V. 90, p. 237, 168.
are
[VOL.
South Side Elevated RR.,
for the year
Year—
1909
ending Dec. 31
Gross.
$2,234,972
2,241,690
2,105,193
—V. 88, p. 371*
LXXXX
Chicago.—Report.—The results
were:
Net.
Charges.
$711,018
670,624
645,448
$453,080
436,620
205,939
Dividends.
(H%) 76,722
(4%)409,187
Bal., Sur.
$257,938
157,281
30,322
Toledo St. Louis & Western RR.—Listed.—The New York
Stock Exchange has listed $6,480,000 collateral trust Series A
4% coupon bonds, secured by pledge of Chicago & Alton
stock, with authority to add from time to time prior to
Jan. 1 1911 $473,000 additional on notice of issuance and
sale, making a total authorized to be listed of $6,953,000.
Earnings.—For 5 months ending Nov. 30:
Five
Gross
Net
Other
Interest, Pref. Div.
Balance,
Mos.—
Earns.
Earns.
Income.
Rents.,Ac. (6 Mos.)
Deficit.
1909 ..$1,658,123
$593,498
$93,639
$549,360
$200,000
$62,223
1908
1,514,807
501,972
From this deficit should be deducted the accrual of 5 mos. dividend on
$6,480,000 Chicago & Alton pref. and $14,420,000 com. stock, say $348,333,
leaving a surplus of $286,110.—V. 89, p. 1218.
__
Union Pacific RR.—See American Express
“Industrials” below.—V. 90, p. 238, 169.
Co. under
Wages.—The following increases in wages and pension
systems for employees have been announced:
Interborough Rapid Transit Co.—In recognition of the higher cost of living
and in accordance with the intention of the management to maintain a rate
of wages for its employees equal at least to that of any similar road in the
country, an Increase or wages effective Feb. 1, ranging from 5 to 25 cents a
day, has been announced, applying to more than 6,000 employees of the
subway and elevated lines.
This Is the second voluntary increase made
by the company since Jan. 1907, and will increase the annual payroll by
about $160,000, and with the addition of 1907 will make an aggregate In¬
crease of $660,000 to the annual payroll.
A statement issued says that
it is hoped that a pension fund can be started within a short while upon a
basis that will enable the company to take care of pensioned
employees
without any expense to them whatever.
Reading Company.—General Manager Dice of the Philadelphia & Read¬
ing on Jan. 27 gave notice that, beginning Feb. 1, the wages of all engineers
would be increased, bringing the rate up to that paid on other systems in the
country.
The Increase, it is said, will average about 15%, and affects about
1,200 men.
New York Central.—It was officially announced on Jan. 25 that the com¬
pany is willing to grant an increase of wages to all trainmen in its employ,
but that the percentage of the Increase had not yet been determined.
The announcement followed conferences between representatives of the
men and the company’s officials in connection with the demands for shorter
hours and increased wages recently made by trainmen of 32 roads centering
in New York.
The company Is preparing data from which estimates of
the exact amount of Increase may be made, and the trainmen and con¬
ductors are preparing similar data to determine how much they may con¬
cede in thife compromise.
Another conference is expected next week to
settle the matter.
The pension plan stated to have been announced this
week is that referred to in V. 89,
p. 1281, which went into effect Jan. 1.
Rock Island Co.—The new Rock Island pension system, it is stated, Is
practically the same as that of the New York Central.—V. 86, p. 858.
Wisconsin &
Michigan Ry.—Tax Sale.—The road was sold
by the Auditor General
of Michigan, the purchaser being John Marsch of Chicago,
a railroad contractor, who paid $67,990, the amount of taxes
with interest to date.
Mr. Marsch, it is said, previously
owned part of the road from Quinnesec to Iron Mountain,
which he built and for which he was never paid.—V. 90. p. 169.
on
Jan. 26 at Menominee for taxes
INDUSTRIAL, GAS AND MISCELLANEOUS.
Amalgamated Copper Co.—Consolidation Plans.—See Ana¬
conda Copper Mining Co. below.—V. 89, p. 1544.
American Agricultural Chemical Co.—Long Contract for
Potash Supplies—Threat of German Repudiation.—See Inter¬
national Agricultural Corporation below.—V. 89, p. 780.
American District Telegraph Co. of New York.—Report.—
The results for the year ending Dec. 31 were:
Years—
1909
1908
—V. 88, p.
Gross.
Net.
$549,225
492,896
$84,564
68,106
Div.
(2%).
$76,888
76,888
Bal., surp.
$7,676
def. 8,782
sur.
943.
American Express
Co.—To Operate to Pacific Coast.—The
company will on April 1 next begin to operate over the lines
of the Union Pacific system, including the Oregon Short Line
and Oregon Railroad & Navigation Co., and also the San
Pedro Los Angeles & Salt Lake, a total of over 7,000 miles,
taking the place of the Pacific Express Co.
Of the Pacific Express Co.’s $6,000,000 stock, the Union Pacific and
Missouri Pacific on June 30 1909 each owned $2,400,000, the remainder,
it Is said, being owned by the Wabash RR.
The change, it is stated, is
due to the fact that the Pacific Express Co. will operate over the Western
Pacific, the new Gould line to the Pacific Coast, just about completed.—
V. 89, p. 1343.
American Piano Co.—Change of
Officers.—G. L. Eaton,
Treasurer, has been elected Vice-President to succeed
William Knabe; I. E. Edgar was elected Treasurer, succeed¬
ing Mr. Eaton, and J. H. Shale was elected Secretary, suc¬
ceeding Charles Keidel Jr.
No detailed report for the year 1909 has been made public, but It is
stated that, after paying all fixed charges and a pref. div. of 7%, $200,000
has been added to the surplus, making a total surplus of $388,000.
All the
factories are working to full capacity and the output for 1910 Is expected
to exceed considerably that of last year.—V. 88, p. 750.
American Round Bale Press Co.—Bonds Called.—Twelve
first mortgage 6% 15-year gold
for $100 each have been drawn
bonds of $1,000 each and six
for redemption on Feb. 1 at
par at the Metropolitan Trust Co., New York.—V. 84, p. 627.
American Wringer Co., Providence.—Extra Dividend.—An
1% has been declared on the $900,000
stock, payable March 1 to holders of record Dec. 31.
Dividends were resumed in April 1909 after a lapse of five
years, 1% (quarterly) being paid.
The common stock
reduced from $1,400,000 in 1909, $500,000 having
was
been purchased at low prices and retired.
There is also
$850,000 of 7% cumulative preferred stock; par of all
extra distribution of
common
shares $100.
Previous Dividend Record (Per Cent.)
1891-93.
1894-95.
1896-1900.
1901-04.
Common stk.
Preferred stk.—
8
5
8
4
7% yearly to date
1905-08,
1909.
None.
3
THE CHRONICLE
Jan. 29 1910,
The company was incorporated in Rhode
tion of several concerns, and manufacturing
Island in 1891 as a consolida¬
clothes wringers, rubber rolls,
mangles, &c.
The factories are located at Woonsocket, R. I., and Auburn,
N. Y.
President, W. S. Ballou; Gen. Mgr. and Treas., A. G. Beardsley
Jr.; Sec., S. G. Smith, Providence, R. I.
Main office, 99 Chambers St.,
New York.
Report.—For the
year
ending Dec. 31:
Com.Div.
Deprec. Bal.,Sur.
$225,277
$59,500
(6%)$54,000 $61,777 $50,000
107,686
59,500
38,186
10,000
125,607
59,500
42,653
23,454
Total surplus Dec. 31 1909 as per balance sheet, $200,000; cash on hand,
$164,210, against $45,385 in 1908. The item of “patents, trade-hiarks and
good will” has been marked down from $475,000 Dec. 1 1907 and 1908 to
$300,000 Dec. 31 1909.
Gross.
Year—
1909
1908
1907
Net.
Pref.Div.
$338,012
218,332
228,782
Anaconda Copper Mining Co.—New Stock—Proposed
Merger.—The shareholders will vote March 23 on increasing
the capital stock from $30,000,000 to $150,000,000, a part
of the
new
stock to be issued in the
near
future for the pur-
Sose
utte ofdistrict.
acquiringThethecompany
propertyis ofcontrolled
other companies
in the
by the Amalga¬
mated Copper Co., and in some quarters it is thought that
the merger will be followed by the “practical elimination” of
the Amalgamated as a holding company.
Which It Is Generally Believed Will Be Included in Merger.
Controlled by Amalgam.
Total
—Dividends Paid IP.C.)—Est. Annual
Copper Co.—
Stock.
1906. 1907. 1908. 1909. Prod. libs.
26
8
Anaconda Cop. M. Co. .$30,000,000
8
19^
80,000,000
Companies
Bos.&Mon.C.C.&Sil.MButte & Boston Con. M.
Cole-Ryan Interests—
3.750,000 192
2,000,000
North Butte Mining Co. $6,000,000
Butte Coalition Min.Co. 15,000,000
Note.—The Amalgamated Copper
168
40
5 1-3
40
11
48
48
95,000,000
20,000,000
20
26 2-3
None
1 2-3
40,000,000
35,000,000
Co. has been supposed to own about
$3,000,000 Butte Coalition stock.
In case later on the Utah Copper Co. (see that company below), including
the Nevada Consolidation and tne Boston Consolidated Copper Cos. should
be taken over they would increase the aggregate production of copper by
possibly 150,000,000 lbs., say to 420,000,000 lbs.
The official announcement says
in substance:
The “law of the apex,” or the right to follow a vein on its dip extra'
laterally beyond the surface lines of a mining claim, prevails in Montana*
and has given rise to many perplexing problems; it was this law that was
chiefly responsible for the costly Heinze-Amalgamated litigation, which
was Anally terminated some years ago only by the purchase of the Heinze,
properties and the subsequent formation of the Butte Coalition Co.
The mining claims of the Anaconda Copper Mining Co. and of the other
companies affected by this plan are all located upon the Butte hill within a
comparatively circumscribed area, and are so closely and Inextricably
interlaced as to make almost impossible the segregation of the ownership
of the underground ore bodies.
Some of the operating features which have been considered in favoring
the proposed plan are the economies which will result from working all the
mines in accordance with a general system of ventilation, drainage and
development, thus relieving the owners from the necessity of maintaining
numerous expensive surface and underground plants which under separate
ownership are e^entlal for working the scattered properties of the different
companies.
The Anaconda Co. is regarded as the logical company to become the
purchaser of the properties of the other companies, and the step taken at
yesterday’s board meeting was the first toward submitting the matter to
the stockholders of the different companies.
It Is not likely that all of the Increase of stock, if authorized, will be used
at present in carrying out this plan.—V. 88, p. 14 95.
305
The franchises in Waterloo and Cedar Falls, except the electric-light
franchise in Cedar Falls, extend beyond the maturity of the bonds, and are
No difficulty is anticipated in securing a renewal of the
broad and liberal.
electric franchise In Cedar Falls.
The properties are thoroughly modem.
The gas works as enlarged have a capacity of 1,500,000 feet.
The electric
plant (turbine generators) has a total capacity of 2,550 kilowatts.
The
old company in 1905 had only 40 miles of gas mains and 2,131 gas meters
connected.
The present company has 89 £6 miles of mains and 6,333 gas
The consumption of electricity has grown from 564
meters connected.
h. p. connected load to 2,358 h. p., while the connected lighting load has in¬
creased from 12,584 equivalent 16 c. p. lamps to 44,680, and the number of
electric motors from 925 to 2,549.
The plants are still capable of taking
care of a 50% further increase.—V. 87, p. 1607.
Cleveland Electric Illuminating Co.—Bonds Called.—The
$1,700,000 of outstanding first mortgage 5% gold bonds,
dated Jan. 1 1898, have been called for payment on April 1
at 110 and interest at the office of the Morton Trust Co.,
New York, trustee.—V. 90, p. 112.
Columbus ft Hocking Coal ft Iron Co.—Receivership.—
Judge Sater in the Federal Court at Columbus, O., on Tues¬
day, on the application of Henry D. Hotchkiss, receiver of
the firm of Lathrop, Haskins & Co. (members of the so-called
“Hocking pool,”) who failed last week, appointed A. L.
Thurman of Columbus and William A. Barbour receivers of
the coal company.
Compare items under “Banks, Bankers
and Trust Co’s” in last week’s and this week’s “Chronicle.”
Upon application of the coal company, A. T. Seymour of Columbus was
appointed receiver of the subsidiary Columbus & Hocking Clay Construction
Co. and F. N. Sinks of the Columbus & Hocking Brick Manufacturing Co.
The counsel for Mr. Hotchkiss in
Wednesday
gave
a
statement issued
on
the following facts:
There are now being mined and shipped about 2,000 tons of coal per day.
The company has two oil wells producing over 150 barrels a day and two
other wells on which two derricks have been erected, and drilling Is ready to
The output of the first two wells is run directly into a pipe line,
commence.
which the Standard Oil Co. has recently completed to the company’s prop¬
erty, and brings at the present market rate $1 40 a barrel.
The larger of
the two wells is not completed through the Clinton or oil-bearing sand.
A gas well, struck in August 1909, having a daily capacity of between
3,000,000 and 4,000,000 cubic feet, provides fuel for one of the company’s
Eoweroffered
plants 5which
100,000
feetsurplus
per day.
The company has
centsrequires
cu. ft.cubic
output.
per 1,000
for its
een
The brick plant, with a proposed capacity of over 200,000 bricks per
day, is Incomplete, but has been producing about 70,000 .bricks per day
during the past five weeks.
The construction of this plant has cost approxi¬
mately $800,000, all of which has been advanced by Lathrop, Haskins &
Co., and there Is now due them on the account approximately $450,000 and
there is also due them $75,000 on money advanced to the company at
various times.—V. 89, p. 1143.
(The) Crystal Park Co., Colorado Springs, Col.—Bonds
Offered.—Chas. B. Van Nostrand, 36 Wall St., is offering
at par and interest a block of convertible 6% sinking fund
mortgage gold bonds, dated 1908 and due Jan. 1 1919, but
callable for sinking fund at 105 and int.; par $500; int.
J. & J. Trustee, Standard Trust Co.,N.Y. A circular says:
The company now has assets aggregating $12,921,891, of which $5,461,042 Is In United States and State of New York stocks, city, bank and other
Total auth. Issue, $150,000; a first mortgage on about 1,200 acres of
park lands, private right-of-way, buildings, &c., and equipment, now
owned or hereafter acqui ed, subject to a mortgage of $16,825 on part of
real estate.
Sinking fund from April 1 1910, 20% of surplus income, for
redemption of bonds at 105 and int.
Bonds convertible by holder at any
time prior to payment into an equivalent amount of common stock.
Capitalization.—Bonds ($20,000 reserved), $150,000; pref. stock (par
$100; pref. as to assets and dividends; cumulative at 7% per annum from
July 1 1909, and callable at 140 and accrued dividends), $130,000; com¬
mon stock (par $100), $500,000.
Estimated Earnings, Based on 75,000 Passengers at $2 50 Each (Not Includ¬
securities' $873,353 is cash, $1,000,000 special deposits In banks and trust
companies, $1,213,070 premium notes and bills receivable and $4,374,426
in real estate and claims due the company.
Receipts
Expenses
Atlantic Mutual Insurance Co.—jReport.—The report of
the trustees for the year ending Dec. 31 1909 will be found
in our advertising columns last week.
Certificates Called.—Six per cent interest on the
outstanding certi ficates of profits will be paid to the holders
thereof Feb. 1.
The outstanding certificates of the issue of
1904 will be paid on Feb. 1 next, from which date all interest
thereon will cease.
A dividend of 40% has been declared
on the net earned premiums for the year ending Dec. 31
1909, for which certificates will be issued on and after May 3.
The total marine premiums for the year were $4,477,104,
including $717,713 not marked off Jan. 1 1909.—V. 88, p.232.
British Columbia Packers’ Association.—Payment of all
Accumulated Dividends.—Aemilius Jarvis, Vice-President,
announces the declaration of a dividend of 10J^% on the
$1,270,000 preferred stock for the period from May 20 1908
to Nov. 20 1909, payable Feb. 5 to holders of record Jan.
25.
This completes the payment of dividends in arrears.
Interest
The preferred stock ($1,500,000 auth.) is all 7% cumulative, redeemable
Series A has the option of conversion into common; $635,000 Series B lacks this option.
There is also $1,511,400 common stock,
auth. Issue $2,500,000.
Par all shares, $100.
No bonds. Compare
V. 90. p. 280.
at 115; $635,000
Citizens’ Gas ft Electric Co., Waterloo and Cedar
Falls,
Iowa.—Bonds—Earnings.—Woodin, McNear & Moore, Chi¬
cago, are placing at 97 ^ and interest $300,000 “first and
refunding’^ (now closed) mortgage 5% gold bonds dated
1906 and due Jan. 1 1926, but subject to call on and after
Oct. 1 1910 at 105 and int.
Interest (Q.-J.) at Central Trust
Co. of Illinois, Chicago, trustee. Par $500 (c*).
Extracts from Letter of Vice-President Rufus C. Dawes, Jan. 12 1910.
The company does the entire gas and electric light and power business
of the cities of Waterloo and Cedar Falls, Iowa (eight miles apart), thus
serving an estimated population of about 32,000.
Financial Statement.
Pref. stock authorized, $500,000; Issqed
$300,000
stock
Common
authorized, $500,000; issued
400,000
“First and refunding mtge.” 5s auth., $1,200,000; canceled by
sinking fund, $19,000; outstanding
1,061,000
Reserved to retire $120,000 Waterloo & Cedar Falls Gas &
Electric Light 5s, due July 1 1921
120,000
Earnings lor Year ended Dec. 31 1909.
Gross earnings
$306,265(Bond Int., entire issue
$60,000
Net, after taxes$153,2661Surplus
_.$93,266
Net Earnings for Years ending Dec. 31, Showing Increasing Business.
.
1904.
1905.
1906.
$47,691
$64,696
$81,015
1907.
$106,502
1908.
1909.
$123,032
$153,266
The “first and refunding" bonds are, in opinion of counsel, secured by
a first lien on all the property, rights and franchises of the company, sub¬
ject only to $120,000 Donds which will be retired on or before July 1 1921.
The entire $1,200,000 authorized by the mtge. is now outstanding except
$19,000 which have been canceled under sinking fund provisions and $120,are held in escrow to retire the underlying bonds.
Annual sink¬
ing fundflbeginnlng Nov. 1511908, equal to 1% of the bonds outstanding.
000 which
ing Other Income)
$187,500 Interest
44,050 Div. on pref. stock
$9,000
9,100
Net profits
$143,450 Bal., sur.(25% on com. stk.)$125,350
Extracts from Letter of General Manager W. C. Dotterer, Colorado Springs:
Crystal Park is a valley about 2 miles long and 1 mile wide, 8,500 feet
above sea level and 2,500 feet above Manitou and Colorado Springs, and
completely surrounded by a wall of extremely picturesque cliffs and high
peaks, some reaching an elevation of over 11,000 feet, a spot of unsurpassed
beauty, with many falls and cascades. The company has purchased
a right-of-way, and during the past summer built a private roadway up the
mountain side over a most picturesque route,,connecting the park, hereto
fore inaccessible, with the public roads of Manitou and Colorado Springs.
About April 1 1910 our five special Packard observation automobiles, each
carrying 20 passengers, will be placed in operation, offering to the thousands
of tourists that visit this portion of the State each year a most attractive
trip (7 miles each way) through a beautiful canyon, then with a gradual
ascent, unfolding one continuous changing panorama, embracing the plains,
Colorado Springs, Colorado City, Garden of the Gods, entrance to Cave of
the Winds, Manitou, in all its beauty, and Pike’s Peak.
Other resorts in this district charging from $2 to $5 are known to be very
remunerative.
It is proposed to allow local residents admittance to the
roadway and park with their own automobiles at a suitable charge.
Oudahy Packing Co., Chicago.—Earnings.—For
ing Oct. 31 1909:
Gross
eArnings
Operating expenses
Pack.House.
Oth.Prod's.
$68,383,885
65,450,865
$3,604,327
3,451,978
year
end¬
Car Lines.
Tot. of All.
$433,336 $72,421,548
271,594
69,174,437
Net profits
$2,933,020
$152,349
$161,742
$3,247,111
Depreciation ($265,520), taxes ($106,191), contingencies ($25,000) 396,711
Net earnings.
Other income, investments, &c
Total net income
Interest charges
Balance, surplus for year
—Compare V. 89, p. 222.
$2,850,400
551,810
___
$3,402,210
497,761
$2,904,449
Distillers’ Securities Corporation.—Listed.—The New York
Stock Exchange has listed $458,000 additional first mortgage
25-year 5% convertible bonds due 1927, with authority to
add from time to time, prior to Jan. 1 1911, $1,933,000 ad¬
ditional on notice of issuance, for the purposes stated below,
making the total to be listed $16,000,000, the full authorized
limit under the mortgage.
Purposes for Which $458,000 Bonds Now Listed Have Been Issued.
acquire $1,023,500 DistilllngCo. of America pref. stock at 21 % $215,000
Issued against cancellation of $243,000 Am. Spirits Mfg. 6s. 243,000
Purposes for Which Remaining $1,933,000 Bonds May be Issued.
To acquire $2,083,100 outstanding Distilling Co. of Am. pref. stock $437,000
For the conversion or cancellation of $1,496,000 Am. Spirits Mfg.
bonds (the only outstanding bonds of constituent companies)-.1,496,000
To
Fountain y&Uoy Land ft Irrigation Co.,Colorado Springs,
Col.—Bonds Offered.—Edward B. Smith & Co., Philadel¬
phia and New York, own and offer for sale at par and inter¬
est
$275,000 first mortgage 6% bonds, being part of the issue
306
THE CHRONICLE
of $500,000 (closed mortgage) dated
scribed in V. 89, p. 922.
[VOL.
LXXXX
May 1 1908, fully de¬
Juniata Water & Water Power Co., Huntingdon, Pa.—
Sold.—The property was offered at auction under foreclosure
Extracts from Letter of President William C. Johnston, Exchange Nationa
Bank Bldg., Colorado Springs, Colo., Dec. 31 1909.
Incorporated in 1903 under laws of Colorado and purchased 17,000 acres
of land lying along the east side of Fountain River; the head gates are sit¬
uated about half a mile from the city limits of Colorado Springs.
The
present head-gates, main canals and two reservoirs cost approximately
and
additional
3477,000,
construction during the last 18 months $56,000.
The land cost about $200,000, so that the present cash investment is $730,000.
We intend to spend on further reservoir construction and other im¬
provements, including land, about $150,000, so that there will be an actual
cash Investment of about $880,000, and a bond issue of only $500,000.
Owing to the increase In values of irrigable lands after the water is put on
them, I estimate the actual present value of the property at $1,950,000.
When the improvements now contemplated are completed, and the final
purchase made of the land under option, the property will be worth at least
$2,300,000, or nearly five times the total bond issue. Of all receipts from
sales of lands and water rights, 70% is placed In the sinking fund for the
redemption of bonds, and the remainder goes to the treasury of the com¬
pany. The trustee of the mortgage now holds in the sinking fund mortgages
to the amount of $84,711, representing deferred payments for land sold.
See also V. 89, p. 922.
Jan. 24 by Barnes & Lofland,
participated,
the firm of Bell &
Judge, of 1 Nassau St., New York.—V. 89, p. 1671, 665.
Kellogg Switchboard & Supply Co., Chicago.—Stock Divi¬
dend 100%.—-The company filed at
Springfield, Ill., on
Jan. 20 a certificate of increase of
capital stock from $500,000
to $1,000,000.
The new stock will be distributed as a divi¬
dend of 100%.
According to Chicago papers, the cash divi¬
dends paid in 1909 aggregated 52%.
General Chemical Co., New York.—Dividend Increased—
Stock Dividend.—The directors yesterday declared a quar¬
terly dividend of 1M% on the $7,140,300 common, stock,
payable March 1 to holders of record of Feb. 21, raising the
annual rate from 4% (the rate maintained from 1900 to 1902
and from 1906 to 1907) to 5%, as in 1903; also an extra divi¬
dend on the common stock of 10%, payable after March 15
in common stock at par to holders of record Feb. 21.
This
extra distribution is made for the
reason that for the years
1904 and 1905, while the company earned its usual dividends,
no dividend for prudential
reasons was paid on the com¬
shares.—Y. 89, p. 414, 351.
Gilchrist Transportation Co.—Receivership.—Federal Judge
Taylor at Cleveland on Jan. 18 appointed General Manager
S. P. Shane and Director George A. Garretson, President of
mon
the Bank of Commerce, of Cleveland, as receivers for the
property, upon application made by Vice-President Frank
W. Gilchrist of Alpena, Mich., owner of $554,000 of the
$6,761,400 outstanding stock. The “Cleveland Leader” of
„
Jan.
19 said;
The fleet controlled by the company contains 57 vessels and four barges.
The outstanding bonds secured by vaidous mortgages upon the vessels of
the fleet amount to $1,852,000.
[The “Leader” further on in the same
article says that the bond issue at present amounts to $2,295,000 5% bonds.]
Of this $327,000 becomes due annually.
There is also $1,540,308 due for
borrowed money and an additional $100,000 to be paid upon the purchase
price of a recently acquired vessel.
Mr. Gilchrist stated that the un-
season
it impossible
for the
{jrofltable
ts obligations,
justnotwithstanding
past has made the
and
effort which
was
save the
company
meet
made in to
1908
to
enterprise by raising $500,000 and organizing a board of directors
in which the creditors had „the majority representation, there was great
danger of the company’s creditors appealing to the courts and seizing the
vessel property.
Gross earnings for 1908 were $812,666 and the tonnage
carried decreased from 6,711,044 gross tons in 1907 to
1,593,082.—
V. 80, p. 166.
Grand Trunk Pacific Development Co.—See Grand Trunk
Pacific Town & Development Co.
Grand Trunk Pacific Town & Development Co., Ltd.—
New Name—This subsidiary of the Grand Trunk Pacific
Ry. Co. filed papers on Jan. 20 changing its name to “The
Grand Trunk Pacific Development Co., Ltd.”
Compare
V. 86, p. 1045.
Hoster-Columbus Associated Breweries,
—Report.—For calendar
Cal.
Years—
1909
1908
1907
Columbus, Ohio.
years:
Cross
Earns.
Net
Bond
Sink.
Divs.
Balance,
Earns.
Interest.
Fund.
Paid.
Def. or Sur.
_$595,690 $400,936 $303,000 $50,000
sur.$47,936
552,296
138,297
306,000
50,000
def.217,703
790,545
414,317
309,000
50,000 $121,500 def. 66,183
There was charged to depreciation $91,125 in 1909 (against
$131,977 in
1907), leaving a deficit for 1909 of $43,189.
In 1908 the company “charged
off practically all bad accounts.”
Sales of beer in 1909, 274,250 barrels,
against 321,250 barrels In 1908.
Total accumulated surplus Dec. 31 1909,
$106,232.—V. 88, p. 689.
%
Huron Steel & Iron Co., Norwalk,
O.—Receivership.—
Judge Tayler in the Federal Court at Toledo, O., on Jan. 27,
on the application of the Norwalk National
Bank, a judg¬
ment creditor, appointed the Cleveland Trust Co. and E. G.
Martin of Norwalk, O., receivers.
It is stated that in the reorganization and
consolidation about
sufficient working capital was not provided.
The
a
year ago
company has outstand¬
ing $1,250,000 bonds, $1,250,000 capital stock, additional liabilities
ag¬
and assets estimated at $500,000.—
V. 88, p. 1132.
gregating, it Is stated, $100,000,
International Harvester Co., New York.—New Stock.—
The shareholders yesterday gave formal
approval to the
proposed increase in the common stock from $60,000,000 to
$80,000,000, as required for the stock dividend of 33 1-3%
on the common stock recommended Jan. 14.
See V. 90,
p. 170.
International Steam Pump Co.—Listed.—The New York
Stock Exchange has listed the $8,500,000 first lien
20-year
5% bonds, due 1929, recently sold (V. 89, p. 1671).
Earnings.—For 7 months ending Oct. 31 1909, including
constituent companies:
Net profits
Deduct—
Int. on Int. Co. debentures.
Blake bond Interest
Holly bond interest
Reserve acct. sinking fund
for Blake bonds
Balance, surplus
$845,135 Dividends
160,098
11,974
17,500
108,834
on
Henry R.
preferred
stock—
Worthington,
$140,000
Blake & Knowles, pref
19,400
Int. St. Pump Co., pref__ 340,500
Total deductions
—V. 89, p. 1671, 1485.
$798,306
$46,829
Jeffersonville (Ind.) Water Works Co.—Sold.—The
prop¬
erty was sold at Jeffersonville on Jan. 22 by Sheriff John B.
Carr to satisfy a judgment for $283,405 53 and
costs, in
favor of the Union Safe Deposit & Trust Co., trustees for
the bondholders, and
was
bid in by James P. Goodrich of
for “$7,756 65
Indianapolis and Harry Starr of Richmond
bove the bonds for $200,000.”
proceedings at Philadelphia
on
and after spirited bidding, in which five
persons
was bid in for
$400,000 by J. W. Bell, of
The plan for merger with the Dean Electric Co. of Cleveland fell
through
last December because, as claimed, the
Kellogg property was to be taken in
at too low a valuation.
At that time it was unofficially reported that the
Kellogg Co., with all debts paid, held $650,000 in cash and receivables,
and inventory and quick assets
exceeding $1,750,000.—V. 89, p. 473.
Kings County Electric Light & Power Co., Brooklyn,
Y.—Option to Subscribe.—A circular dated Jan. 26 offers
to stockholders of record at 3
p. m. Feb. 7 the right to sub¬
scribe at par at the Franklin Trust
Co., until 3 p. m.
March 1, to an amount
equal to 25% of their re¬
spective holdings, for $2,500,000 of the $5,000,000 6% con¬
vertible coupon debenture bonds authorized
by the stock¬
holders on Nov. 11 1909, such present issue
having been ap¬
proved by the Public Service Commission on Jan. 24. Sub¬
scriptions are payable by New York check to order of com¬
pany at the aforesaid trust company, either 50% March 1
and 50% Sept. 1 1910, or as below stated.
N.
The debenture bonds will be dated March 1 1910, will be convertible into
stock at option of holder, at par, on and after March 1 1913 and within
twelve years from their date, and will mature March 1 1922.
Denomina¬
tions $1,000 and $100, with privilege of registration as to
principal, at
Franklin Trust Co., transfer agents, 166 Montague St.,
Brooklyn, or 140
Broadway, N. Y. The Treasurer will issue subscription warrants on
or about Feb. 7.
The bonds will be delivered Sept. 1 ex the Sept. 1 cou¬
pons, but accompanied by checks for interest at 6% upon the amount of
the first
payment as shown by the receipts.
Stockholders may, if preferred, make payment in full March 1 and ex¬
change their full-paid receipts on and after May 2 for bonds bearing the
Sept. 1 coupon; also, if desired, the second installment of 50% may be paid
on the first day of any month
subsequent to March and prior to September,
but when so paid must be accompanied by a check for
the interest at 6%
on the amount of such
payment from March 1: and on and after May 2 the
full-paid receipt may be exchanged for bonds bearing the Sept. 1 coupon.
—V. 89, p. 1284.
.
Louisville (Ky.) Gas Co.—Financing Controlled
Company.
—See Louisville Lighting Co. below.—V. 90, p. 55.
Louisville (Ky.) Lighting Co.—New Securities.—The
shareholders will vote Jan. 31 on authorizing $1,150,000 7%
cumulative preferred stock and $1,000,000 30-year 6% con¬
vertible bonds, with right of conversion into preferred stock,
dollar for dollar, after a certain date.
The Louisville
Courier-Journal” of Jan. 23 said:
11 is stated that only the bonds will be sold and that
arrangements have
been made whereby the Louisville Gas Co. (compare V. 90,
p. 55) and the
New York interests of the Lighting Co. will take the entire issue In
propor¬
tion to their present holding of stock.
The 7% stock is to be held In the
treasury, $1,000,000 of which will be reserved for conversion purposes, the
holders of the new bonds having the privilege to convert tne bond into
stock on a par for par basis after a certain time.
It is understood that the company has also arranged to dispose
of some
of its first mortgage bonds (total issue $4,000,000 first 5s, due April 1 1953;
outstanding at last accounts, $3,112,000), and will raise altogether about
$1,500,000, which will be used for enlarging its power plants, extending
Its scope of operations and paying off its floating debt.
[The Louisville
Gas Co. owns a majority of the capital stock, authorized $3,000,000, re¬
cently outstanding, $2,666,700, par $100.]—V. 88, p. 567.
Lyons (N. Y.) Sugar Beet Refining Go.—Bankruptcy Pro¬
ceedings.—Two involuntary bankruptcy petitions were filed
against the company in the United States District Court at
Buffalo
on
Jan. 16.
One petition was filed by residents of the Town of Chili, whose crop of
sugar beets the company failed to pay for on Dec. 20 as agreed.
The
other was filed for holders of claims, the largest being $666, held by the Will¬
iam J. Wegman Co. of Rochester.
The provable claims are said to aggre¬
gate at least $40,000, but the plant and outstanding accounts, it is thought,
should cover the total debt.
Compare V. 81, p. 506; V. 80, p. 716.
.
Minneapolis (Minn.) General Electric Co.—Option.—A cir¬
cular dated Jan. 19 offers the $1,000,000 new common stock
to stockholders of record Jan. 17 1910 for subscription at par,
$100 per share, at office of Stone & Webster, 147 Milk St.,
Boston, on or before March 2 (when payment must be made
in full) in amounts equal to two-fifths of a share of said com¬
stock for every share of
stock, whether common or
preferred, held by them respectively. Certificates for fully
paid shares will be issued on March 9 1910 to holders of fully
paid warrants of record March 2 1910.—V. 90, p. 55.
Mortgage Bond Go., New York.—New Officers.—George
A. Hurd, former Vice-President, has been elected President,
and Richard M. Hurd, former President, becomes VicePresident.
G. M. Maynard succeeds Cecil C. Evers as Secre¬
tary and J. Henry Weston has been elected Assistant Treas¬
urer.—V. 89, p. 781.
National Starch Co.—Time for Deposits Extended.—The
committee representing the 5% debenture bonds and the
6% mortgage bonds, having already obtained control of
90% of both classes of these bonds, announce that the time
for deposits with Messrs. Speyer & Co. has been extended
from Jan. 20 to Feb. 21. Compare V. 90, p. 55; V. 89,p.1672.
Niagara Lockport & Ontario Power Go.—Earnings.—For
December and six months ending Dec. 31:
Period
mon
Sale of
Covered.
Power.
December $94,660
6 months.504,161
—V. 90, p. 171.
Cost of
Power.
$49,880
251,213
Gross
Income.
$44,780
252,948
Ontario Power Go. of
December and six months
Period
Sale of
Covered.
Power.
December .$66,531
6 months.-341,561
Net
Other
Int.
on
lsl
Bal.,
Earnings. Income. Mtg. Bds. Sur.
$28,308
$1,129
$20,833
$8,604
155,902
9,201
125,000
40,103
Niagara Falls.—Earnings.—For
ending Dec. 31:
Gov't
Gross
Rental.
$4,471
24.863
Income.
Earns.
$62,060
316,698
$50,864
Net
252.404
Other Interest on
Bal.,
Income. Bonds.
Sur.
$332
$27,450
$23,746
3,00$
163,440
91,967
Jan. 29
1910.]
THE CHRONICLE
Bonds Offered.—E. M. Farnsworth & Co., Boston, having
become interested in the purchase from the company of
$1,700,000 first mortgage bonds for delivery during this
offer them, partly for present and partly for future
delivery. A circular reports:
year,
(“kwh."
kilo-watt hours.)
Years. June 30 ’07 to '09,
Half-Year .Dec. 31 ’09
{Dec. est.).
1906-07.
1907-08.
1908-09.
6 mos. 1909.
31,692,400
88,120,800
171,902,100
141,214,200
For 1910 the official estimate on closed contracts for
delivery of power Is:
Gross, 3915,660; net, $712,525: Interest on first mortgage, $269,625;
Output,
(k. w. h.)
surplus
over first mortgage Interest, $442,900.
The capitalization Is:
First mortgage bonds, $5,289,000; debenture
bonds, $3,000,000; stock, $5,000,000. The stockholders have authorized
additional $5,000,000 stock, which will be Issued as work on the second
conduit and the seven additional generators proceeds.
The first mortgage
bonds are limited to $12,000,000 In all, of which $700,000 were issued
against the intake and preliminary engineering, &c., and the remaining
$11,300,000 were issuable only at the exceptionally low rate of $60 for each
horse-power capacity of plant Installed.—V. 90, p. 171.
an
Pacific Express Co.—To Cease Operations on Union
Lines.—See American Express Co. above.
Pacific
Pennsylvania Sugar Refining Co.—Settlement Effected.—
dispute as to the amount of attorney's fees having been
settled, and the injunction restraining payment of'the
$750,000 arranged to be paid by the American Sugar Refining
Co. in settlement of litigation with that
company having
been vacated, the suit against the American Co. has been
discontinued and the payment presumably made.
Compare
The
V. 89, p. 1284.
A considerable amount has, of course, been consumed In
legal expenses,
and how much will remain after meeting the same has not been announced.
—V. 89, p. 1284.
Philadelphia & Camden Ferry Co.—Extra Dividend by
Pennsylvania RR. Subsidiary.—The directors Jan. 25 de¬
clared
an extra dividend of $18 75
per share, payable in
capital stock, to represent a portion of the capital expendi¬
tures previously made for the improvement
of, and exten¬
sions to, its ferry and property, but for which neither
capital
stock
nor
bonds have been issued.
The dividend will be
25.
The
payable by Feb. 4 to stockholders of record Jan.
“Philadelphia Financial Bulletin” of Jan. 25 said:
There Is outstanding $1,432,000 stock (par $50), of which the Penn.RR
$604,150, and the United New Jersey RR. & Canal Co. $175,300.
The present dividend will Increase the company’s capital
by $537,000, of
which the Pennsylvania will receive about $292,393.
The ferry company
only recently declared the regular semi-annual dividend of 6% and an
extra dividend of 8 %.
An extra dividend of a similar amount was paid in
January 1909.
In the previous year the extra dividend was 5%.
owns
307
Consolidated General Balance Sheet, Nov. 30 1909
Assets ($112,311,913) —
Liabilities ($112,311,913)—
First preferred stock
Property (Including shares
$36,263,000
Rub. Goods Mfg. Co.) .$74,657,514 Second preferred stock..
9,965,000
Supplies and materials._ 14,140,557 Common stock.
.*23,666,000
Cash
Collateral
1,918,354
trust 6s
1/14,500,000
Bills and loans receivable
968,152 Loans and notes payable
5,312,078
Accounts receivable
13,880,234 Merchandise accounts
1,143,068
Securities owned
6,489,158 Due General Rubber Co.
6,109,611
Miscellaneous assets
257,943 Deferred liabilities
305,168
Fixed surp. (sub. cos.)__
8,134,849
____
Surplus
6,913,139
x After deducting $1,334,000 in treasury of sub.
company,
y After de¬
ducting $500,000 canceled for sinking fund Dec. 1 1909.—V. 90, p. 56.
Utah Copper Co.—Injunction Dissolved—Merger Ratified.
—Judges Lanning and Cross in the United States Circuit
Court at Trenton, N. J., on Tuesday handed down a decision
dissolving the temporary injunction restraining the stock¬
holders from voting on the increase in the authorized stock
from $7,500,000 to $25,000,000 to take over the Boston and
Nevada Consolidated companies per plan V. 89, p. 1674.
The stockholders of the Utah Copper thereupon ratified the
increase by a vote of over $6,400,000, or about 90% of the
outstanding stock, in favor of the proposition, with no
opposing votes.
The Court says that the Government alone has the right to bring Injunc¬
tion proceedings for a violation of the Sherman Anti-Trust Law, if there
should be any; and all that an individual can do Is to bring an action at law
for damages suffered.
The other grounds of equitable relief set up In the
complaint, It Is held,
are
filed by the defendant.
fully answered and explained by the affidavits
The entire capital stock of the Boston Consolidated Co.
($775,000) was on Tuesday evening turned over to the Utah
Company in exchange for 310,000 shares of Utah stock and
holders of nearly 50% of the Nevada Consolidated
Copper
Co. stock tendered their holdings to the Utah company on
the basis of 234 shares of Nevada stock for 1 share of Utah.
Right to Subscribe.—Shareholders of the Utah Company
are notified that the
right to subscribe at $50 per share to
increased stock at the rate of one share of new stock for each
10 shares of the present issue applies to stockholders of record
at the close of business on Jan. 31, instead of Jan. 18 as stated
in the circular heretofore sent out.
The issue has been
underwritten by Hayden, Stone&Co. for a commission of 1%.
Subscription warrants with full particulars regarding procedure will be
mailed to all shareholders as soon as practicable after Jan. 31.
Subscrip¬
tions are payable $20 per share at time of subscription on or before March 5,
$15 per share on or before April 1 and $15 per share on or before May 1,
with the right to anticipate any and all payments.
Stock full-paid and
outstanding at time of closing books for April dividend will carry the same.
Directors.—The board of directors has been increased from
Philadelphia Electric Co.—Annual Report.—Proposed Stock 9 to 15. J. D. Hawkins having resigned.
Seven New Members.—Daniel Murray and S. R. Guggenheim, F. A.
Dividend.
At the meeting of the board of directors
of Schirmer, Chapin & Emmons; Ernst Thalmann, of Ladenburg,
held Jan. 25, President McCall reported that, as the result of Schlrmer,
Thalmann & Co.; Eugene Meyer Jr., and T. W. Lamont, Vice-President of
the year's operation, after the fixed charges, taxes, depre¬ the First National Bank of NCw York.
Eight Old Members.—C. M. MacNelll, Spencer Penrose, D. C. Jackling,
ciation and dividends (the latter being $100,000 more than Charles
Hayden, William B. Thompson, S. W. Eccles, J. H. Hammond
declared in the year 1908), an amount in excess of $350,000 and K. K. McLaren.
Finance Committee.—C. M. MacNelll, ex-officio, Murry Guggenheim,
was credited to surplus account.
Charles Hayden, Spencer Penrose, Thomas W. Lamont and J. H. Ham¬
After the meeting Mr. McCall stated the board had decided mond.
Executive Committee.—Messrs.
MacNelll, ex-officlo, D. C. Jackling,
that at the next meeting, to be held Feb. 10, when the usual
Murry Guggenheim, S. R. Guggenheim, W. B. Thompson and Eugene
quarterly cash dividend is declared, they would also declare Meyer Jr.—V. 90, p. 241.
a stock
dividend of $1 50 per share, which stock divi¬
Wells Fargo & Co.—Listed.—The New York Stock Ex¬
dend would be payable upon the date of the quarterly cash
change has authorized to be listed on and after Feb. 7 $16,dividend, March 15. [The stock consists of 1,000,000 shares 000,000 additional capital stock, (purchasable from the pro¬
having a face value of $25 each, with $13 50 per share paid ceeds of the 300% extra dividend payable Feb. 10 V. 89,
up; 490 shares are in the treasury.—:Ed. “Chronicle.”]— p. 1355, 1674), on notice of issuance and payment in full,
V. 89, p. 415.
making the total to be listed $24,000,000.
Tennessee Coal, Iron & Railroad Co.—Payment of Bonds.—
Earnings.—For the three months ending Sept. 30 1909:
The $2,718,000 De Bardeleben first mortgage 6% bonds will Gross receipts from oper..$6,938,236 Operating expenses
$2,866,962
Express
prh "
privileges,
debtor 3,314,581 Taxes accrutea
49,853
be paid at maturity on Feb. 1 at the office of the United
States Steel Corporation.
Operating
revenue
$3,623,6541
Income
Operating
$706,839
The company, it is understood,
income
612,836
will not issue any new bonds on account of the trans¬ Other
—
_
'
action.—V. 89, p. 1673.
United Box Board Co.—Earnings.—For the
ending Dec. 31:
9 months
.
Total sales
$3,154,243 Net from subsidiary cos.
Gross profits
*
127,800 Total net earnings
Administration expenses.
49,297 Interest charges
Net earnings.
—V. 90, p. 241.
Gross corporate income
—V. 89, p. 1355. 1674.
$78,503 Bal., def., for 9 months
___
$34,341
$112,844
125,265
$12,421
United States Realty & Improvement Go;—Taken Over.—
It was announced last week that title to the Trinity and
United States Realty buildings, which had been held by the
Number 111 Broadway Co. as a subsidiary company, had
been transferred to the U. S. Realty Co.
„
The company
has been reported as intending to wind up all Its subsidiary
except the George A. Fuller Co., but If It is so planning, we have
been unable to confirm the statement.
At any rate, it Is denied that the
properties of any other companies are to be taken over in the near future.
The properties now taken over are subject to a
mortgage Indebtedness
of $8,750,000, being, it is learned, the amount remaining
unpaid on the
mortgages made several years ago by the Number 111 Broadway Co. to
the Equitable Life Assurance Co.
These mortgages will mature Jan. 1
1914, one being a $5,800,000 4H% first mortgage, the other a $4,200,000
5% second mortgage.—V. 90, p. 171, 224.
concerns
United States Rubber Co.—Listed.—The New York Stock
Exchange has authorized to be listed on and after Feb. 2
$3,561,400 additional first preferred stock recently offered
to stockholders at $110 per share
(V. 89, p. 1673; V. 90, p. 56)
on notice of issuance and
payment in full, making the total
to be listed $39,824,400.
Earnings, &c.—Of the company and its subsidiaries:
Consolidated Income Statement for Eight Months ending Nov. 30 1909.
Net sales
$22,127,970
Deduct—
Cost of goods sold
17,519,479 Interest on bonds
$600,000
Freight, taxes, selling ex¬
Interest on notes, &c
606,505
&c
penses,
1,468,249 Bad debts, &c
33,124
Dividend on first pref.,
Operating profits
6 months, 4%
$3,140,242
1,450,520
Other inc., lncl. dlv. from
Dividend on second pref.,
Rubber Goods Mfg. Co.
923,356
6 months, 3%
298,950
Total income
$4,063,599
Total deductions
$2,989,099
Surplus for eight months. $1,074,500
$1,319,675
Western Electric Co., New York and Chicago.—Bonds
Offered.—Lee, Higginson & Co., New York, Boston and
Chicago, and Higginson & Co., London, received subscrip¬
tions this week at 99 and interest, yielding 5.10%, for the
unsold portion of the present outstanding issue of
$5,000,000
first mortgage 5% gold bonds dated Dec. 30 1909 and due
Dec. 31 1922, but callable as a whole or in part on
any inter¬
est date after 1911 at 105 and int.
Interest payable J. & J.
in Chicago and New York.
Par $1,000 (c*). Trustee, the
Merchants' Loan & Trust Co., Chicago.
Total authorized
$15,000,000, including: Present issue, $5,000,000; pledged
as collateral securing
$5,000,000 2-year 4J^% notes due
Jan. 1 1912, $6,250,000; unissued, in treasury, $3,750,000.
The subscription books were opened and closed simultan¬
eously
on
Jan. 27.
Abstract of Letter from President H. B. Thayer, Jan. 21 1910.
Controlled by American Telephone & Telegraph Co. through
ownership
of $12,000,900 of its $15,000,000 capital stock.
Was
In 1881
under the laws of Illinois, succeeding to the business of incorporated
the Western Electrio
Mfg. Co.
It is the largest manufacturer of telephonic apparatus In the
world, and the largest distributer of electrical supplies In the United States.
Has 30 distributing houses located in the
principal cities of the Uinted
States and other countries.
The mortgage covers the manufacturing plants located at
Chicago and
New York City, both of the most modem type and equipment.
The Chi¬
cago plant covers 150 acres.
On Dec. 1 1909 the company had about
18,000 employees. The largest output in any one year Included: Leadcable, 10,400,000,000 conductor feet; telephones and transmitters,
2,500,000; subscribers’ sets, 1,140,000; desk sets, 450,000. During 1909
its business showed a gradual increase, and there is every
prospect that
there will be a further Increase du ing 1910.
The bonds are secured by a first mortgage on all the manufacturing plants
now owned by the company In this
country, together with franchises,
licenses, inventions and patents, and all additions and real property here¬
after acquired for use in carrying on the business.
The
oovenants
that (1) its net cash and quick assets shall always be company
double the amount
of the outstanding bonds and accrued interest thereon; (2) after
paying
the regular dividends (8% per annum) on its capital stock, the company
will make no further dividends which would reduce its capital and surplus
below the aggregate sum of $30,000,000; and (3) the company wiU not be¬
come an accommodation endorser, guarantor or surety on any note, blU.
bond, debenture, contract or other obUgation, excepting only that it may
lend its credit in buyinglproperty pertaining solely to its business.
covered
308
THE CHRONICLE
BALANCE SHEET,NOV. 30 1909.
Net Assets (Current Liab. Deducted).
Capital, &c
Capital stock (fully paid) $15,000,000 Plants and real estate
Undivided surp. (earned) 17,450,000
(cost over $18,500,000) $9,550,000
General reserves
2,030,000 Net cash and quick assets 22,180,000
Other net assets
Total
2,750,000
$34,480,000
$34,480,000
The sales of these $5,000,000 bonds and the $5,000,000 4>^% 2-year
notes since Nov. 30 1909, making a total funded debt of $10,000,000, have
Total net assets
{>rovided
for allbusiness,
floating increasing
debt and the
haveabove
furnished
ample
working
the present
net assets
to more
thancapital
$44,or
000,000.
Net cash and quick assets alone amount to more than $31,000,000.
Against these net assets, the only indebtedness is the funded debt
above mentioned, amounting to $10,000,000.
Cash dividends have been paid at an average rate of 7.29% per annum
from 1881 to 1895, and at a uniform rate of 8% continuously since 1895.
Results Year ending Nov. 30 1909—Annual Average 6 Years end. Nov. 30 ’09.
Yr. ’08-’09. Av. 6 Yrs.
Gross sales were___
$45,575,000 $46,076,000
Net profits applicable to interest charges
2,380,000
3,189,000
Int. on present $10,000,000 funded debt
475,000
475,000
The above figures for 1909 are closely approximated; final reports from
some foreign Interests not yet received.
The stated net profits are after deducting liberal charges for depreciation,
the book valuation of real estate and plants having been reduced to 51%
of their actual cost.—V. 90, p. 241, 114.
—The 22d annual statement of the American Real Estate
Co., whose main offices are at 527 Fifth Ave., this city, was
published in last week’s issue of the “Chronicle.” Com¬
parison with previous years would seem to indicate a growth
of over 30% in total assets since 1907 and a gradually widen¬
ing market for its bonds. On Jan. 1 1910 the company had
$7,398,618 in developed companies, ready for building im¬
provements; $2,093,305 of properties in process of develop¬
ment; $712,642 of buildings in course of construction and
land therefor; $4,401,184 of rental properties, lands and
buildings; $306,646 mortgages receivable, besides $261,641
cash in banks and offices.
Against the $15,536,199 of assets
there are outstanding $9,461,253 of its 6% cumulative in¬
vestment bonds and certificates and also $4,130,802 real
estate mortgages.
In addition to the capital stock of $100,000 its surplus is $1,751,154, comparing with
$1,540,969 on
the same date two years ago.
The company’s statement is
certified by Patterson, Teele &
Dennis, and the real estate
valuations were appraised by the Real Estate Board of
Brokers of the City of New York—a disinterested public
board.
The titles to properties are all insured by the title
guarantee companies. The American Real Estate Co. has
been in operation 22 years and its developments and real
estate investments have been made in
strategic locations
along the Subway and other rapid transit lines running
longitudinally through New York City where the apprecia¬
tion in real estate has been very rapid.
The company issues
two kinds of bonds for investment, viz.:
6% coupon “in¬
come-bearing” bonds at par in denominations of $100, $500,
$1,000 and $5,000, or any desired amount, interest payable
semi-annually by coupons attached; and 6% accumulative
“income-savings” bonds, purchasable by installment pay¬
ments covering terms of 10, 15 or 20 years.
Both classes of
bonds bear liberal payment and surrender
privileges. A
folder describing the 6% accumulative bonds will be mailed
on
application. The executive officers are: Edward B.
Boynton, President; Harold Roberts, Vice-President; William
B. Hinckley, Second
Vice-President; Francis H. Sisson,
Secretary; Richard T. Lingley, Treasurer, and Harry A.
Hitchcock, Assistant Secretary. James Cowden Meyers is
Counsel.
—'G.
TrowbridgeAHollister of Mackay & Co. will organize
firm, which will occupy the old offices at Nassau and
Pine Sts., so long occupied by
Vermilye & Co. and Mackay
& Co., and will be known as
Hollister, Fish & Co. The gen¬
eral partners in the new firm are G.
Trowbridge Hollister,
Harold L. Fish, Henry H. Hollister and
Livingston Whitney,
with E. Mortimer Barnes special
partner. Trowbridge Hol¬
lister was an active partner for more than ten
years in the
firms of Vermilye & Co. and
Mackay & Co., and was asso¬
ciated with them altogether about 28
years.
Mr. Fish is
a son of the late Latham A.
Fish, one of the senior partners
in the firms of
Vermilye & Co. and Mackay & Co. He has
a new
been for many years a member of the New York Stock Ex¬
change. Henry H. Hollister is also a member of the New
York Stock Exchange and at
present a partner in the firm
of Hollister & Babcock.
Mr. Whitney is a son of the late
A. R. Whitney.
Mr. Bloodgood and Mr.
Palmer, for so
many years identified with the management of Vermilye
& Co. and Mackay & Co., will remain with
Hollister, Fish &
Co.
J. A. Trowbridge, for many
years a senior partner in
Vermilye & Co. and well known in banking circles, and George
D. Mackay, formerly partner in
Vermilye & Co. and Mackay
&
Co., will continue to make their headquarters with Hollis¬
ter, Fish & Co.
—In connection with the record of the
stock and bond prices in 1909 on the
monthly range of
Chicago Stock Exchange,
printed on a preceding page, there will be found in our ad¬
vertising columns special cards of a large number of the lead¬
ing Chicago bankers and brokers and trust companies, as
below:
Woodin, McNear & Moore.
Russell, Brewster & Co.
Babcock, Rushton & Co.
■
E. H. Rollins & Sons.
S. B. Chapin & Co.
Logan & Bryan.
King, Farnum & Co.
Jas. H. Ollphant & Co.
H. T. Holtz & Co.
Northern Trust Co. Bank
Trowbr dge & Niver Co.
McGee & Co.
sets Realization Co.
Wm. A. Read & Co.
Clement, Curtis & Co.
Farwell Trust Co.
McCoy & Co.
A. O. Slaughter & Co.
Wm. H. Colvin & Co.
Harris, Wlnthrop & Co.
N. W. Halsey & Co.
Hathaway, Smith, Folds & Co.
First Trust & Savings Bank.
Merchants’ Loan & Trust Co.
W. L. Rohrer & Co.
fAllerton, Greene & King.
[VOL.
LXXXX.
—The Home Insurance Co., 56 Cedar St., has issued its
113th semi-annual statement, a summary of which
found in our advertising columns.
A comparison
will be
of the
figures in the statement with those of six years ago shows
an increase in the assets from
$18,040,794 in 1904 to $27,307,672 in 1910. The reserve, which is now $10,244,415,
is an increase of $3,656,802 in the six
years, and the surplus
of $11,182,836 is a growth
of $4,608,084 in the same period.
The surplus as regards policy-holders is now
$15,382,836, as
against $9,574,751 in 1904. During this period the company
carried to conflagration surplus $1,200,000, and
passed
through the Baltimore fire, paying losses of $724,759, and
San Francisco, paying losses of $2,194,177, in addition to
three large conflagrations of lesser magnitude.
The “Home”
has a very strong board of directors, and under the presi¬
dency of Elbridge G. Snow shows a remarkable development.
—The annual statement of the Mutual Benefit Life In¬
Co., home office Newark, N. J., is published among
During 1909 it paid $12,463,655
to its policyholders and the
expenses of doing business
brought this total up to $16,121,619; but the excess of in¬
come over disbursements added to the
policyholders’ fund
was $8,350,413.
The company’s reserve fund wTas $116,071,906. The insurance in force Dec. 31 1909 was $507,224,976 for 215,615 policyholders, of which $67,634,399 was
issued and revived in 1909, or an increase of $32,935,318 of
surance
our
advertisements to-day.
insurance in force.
The total insurance expenses amounted
only 79% of the amount allowed by the insurance law of
the State of New York.
A full report of the year’s business
will be mailed upon request to the Home Office or to
any
agent/ Frederick Frelinghuysen of Newark is at the head
of the organization.
to
—The 60th annual statement of the Aetna Life Insurance
Co. of Hartford, Conn., Morgan G. Bulkeley, President, is
advertised in this issue of the “Chronicle.”
The corpora¬
tion’s operations are well known, for its business covers
several classes of insurance: life, accident, health and lia¬
bility. The assets were $97,227,607 Jan. 1 1910, including
surplus of $9,672,458 to policyholders. Yearly income,
$20,587,255, exceeded disbursements, $16,383,496, by $4,203,759. Briefly the gains during 1909 are: $721,994 in¬
crease in premium income; $1,307,615 increase in total in¬
come; $1,903,257 increase in surplus; $5,102,983 increase
in total assets and $13,858,006 increase in life insurance in
force.
The total life insurance in force was $293,523,233
on Dec. 31 1909 and the total
paid to policyholders since
organization in 1850 was $194,440,420.
a
—The firm of Mackay & Co., bankers, Nassau and Pine
Sts., New York, will be dissolved by limitation on Jan. 31,
Messrs. Donald Mackay and G. H. Burritt retiring.
Malcolm
S. Mackay, son of Donald Mackay, will continue in business
under the name of Mackay & Co., with offices in the Na¬
tional City Bank Bldg., 55 Wall St.
Associated with him
as partners will be Reginald Halladay,
of the bond depart¬
ment of the present firm of Mackay & Co.; Alfred E. Thurber,
until recently in charge of the bond department of Alfred
Mestre & Co.; Arthur B. Gladwin and Augustus W. Kelley
Jr., son of Augustus W. Kelley, Vice-President of the Union
Trust Co., who will be the Stock Exchange member of the
firm.
Donald Mackay will make his office with Mackay
& Co. at 55 Wall Street.
—S. T. Callaway,
Stuyvesant Fish Jr., member of the
Trowbridge Callaway, for years associated
Harvey Fisk & Sons, and C. Lailes E.
Adams, lately connected with Frank Butterworth & Co.,
bankers of New Haven, have formed a co-partnership under
the firm name of Callaway, Fish & Co., to transact a general
banking and commission business in stocks and bonds, with
Stock Exchange,
with the firm of
offices at 37 Wall St.
The firm will commence business on
Feb. 1.
Mr. S. T. Callaway has been Secretary of the
American Locomotive Co. for several years.
Both S. T.
Callaway and Trowbridge Callaway are the sons of the late
S. R. Callaway, former President of the New York Central
and President of the American Locomotive Co.
—J. & W. S. Kuhn
Inc., investment bankers of Pitts¬
burgh, Chicago, Philadelphia, Boston and New York, have
something interesting to say to the investor upon the “secu¬
rity of their investments” in an advertisement appearing
elsewhere in this issue.
Since the organization of J. & W. S.
Kuhn Inc., there has not been a single day’s delay in the
payment of either principal or interest on any bond they have
sold.
The company will furnish particulars to those de¬
siring further information about the corporations it is inter¬
ested in, the securities of which yield 4% to 6% on the
investment.
Write “Department 4,” Bank for Savings
Building, Pittsburgh, or to any of the other offices.
—A pamphlet on the “London Stock Market—Its Features
and Usages,” has been prepared by W. & E. Rosenbaum,
35 Broad St., New York.
About four years ago the firm
published a pamphlet explaining generally the chief features
in connection with the use from this side of the London stock
market and a second edition has now been published.
Some
of the points treated, aside from the usages of the Exchange,
are
“Charges for Doing Business in London,” “Time Limit
of Orders,” “Evening up Positions,” “Options,” &c.
There
is also included a compilation of the various fluctuations in
bank rates of England, France and Germany, for a period
covering the past ten
years.
Jan. 29 1910.!
“specially attractive investment offerings,” PlympCo., bankers, are advertising on another
page a new issue of first mortgage railroad bonds netting the
investor 5%% and a new issue of secured short-term notes
(free of tax in Pennsylvania) which will yield 6%. An
important feature of this offering is, it is stated, that neither
of the above securities is the obligation of a corporation en¬
gaged in untried industries. Official statements describing
both issues will be sent upon request made at either of the
firm’s offices, 27 William St., New York, or 232 La Salle St.,
Chicago. The London, Eng., office is at 54 Old Broad St.
—“A Central Bank,” by Robert E. Ireton of the “Wall
Street Summary,” is a useful book for the banker and
business man for quick reference for information in the
pending central bank discussion. The outlines of a number
of plans which have been proposed are given and both sides
of the discussion are reviewed.
The author has endeavored
to help the reader to an understanding as to the functions
of a central bank and whether it is a good thing for this
country. Price by mail, $1 60. R. E. Ireton, 40 Stone St.,
—As
ton, Gardiner &
309
THE CHRONICLE
%\w OPomwjeraal Jimcs.
“cO^M^RCIAir
Trade continues
EPITOME.
Friday Night, Jan. 28 1910.
generally sound, with very noticeable
gains over that of last year, notwithstanding the drawback
of bad weather in many parts of the country.
Talk is grow¬
ing louder, however, of the high cost of living. The wage
question may become more important as the year advances,
and the break in the stock market has been disturbing.
Some slackening of the iron and steel trade is also reported.
LARD on the spot has declined, owing to a fall in the
price of live hogs, lower prices for lard futures at the West
and larger offerings.
Trade, though not active, has been
somewhat larger than recently.
Prime Western 12.25c.,
Middle Western 12.20c. and city steam 12c.
Refined lard
Continent 13c., South
has declined with trade quiet.
America 13.50c. and Brazil, in kegs, 14^c.
The specula¬
Of lat«
tion in lard futures at the West has been active.
prices
have
some
irregularity,
confidence
shown
but
in the
New York.
long
side
of
the
market
has
been
shaken
by
the
agitation
—J. G. White & Co. Inc. of New York, announce that
against the high price of hog products and foodstuffs of all
they have recently added to their already large and experi¬ kinds, and there has been heavy liquidation on all rallies, due
enced staff of hydraulic and irrigation engineers, with title
to covering and support from packing interests.
of Chief Irrigation Engineer, Ira W. McConnell.
Mr. Mc¬
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
Wed.
Sat.
Mon.
Tues.
Thurs.
Fri.
Connell was recently supervising engineer of the Central
12.15
11.70
11.85
11.80
11.85
11.80
District, United States Reclamation Service, and is well January delivery
May delivery
11.85
11.57** 11.50
11.62** 11.70
11.72**
known in connection with the Gunnison Tunnel, formally
11.42** 11.57** 11.62** 11.65
July delivery
11.77** 11.50
dedicated by President Taft, as well as in connection with
PORK on the spot has been steady with trade dull and
other important irrigation work.
offerings and stocks light. Mess $24@$24 50, clear$25@$27
—King, Farnum & Co., bankers and brokers, 200 La Salle and family $26 @$26 50. Beef has been firm on small
St., Chicago, have recently opened a bond department under supplies. Trade has been quiet. Mess $12@$13, packet
$13@$13 50, family $15 50@$15 90 and extra India mess
the management of Morris B. Heurotin, who has had several
years’ experience in that line with prominent Chicago bond $21 50@$22 50. Cut meats have been firm. The demand
Pickled hams, regu¬
Messrs. King, Farnum & Co. are now offering has been small, but supplies are light.
houses.
lar,
light
heavy,
13@1334c.;
pickled
to
bellies, clear, light
$500,000 Souhtern Ry. Co. new issue 3-year 5% gold notes
at 98^ and interest, yielding about 5.45%.
Kissel, Kin- to heavy, 13@133^c.; pickled ribs, light to heavy, 13@13)^c.
Tallow has been quiet and steady; City 6 %c.
Stearines have
nicutt & Co. are the New York correspondents of the firm.
been dull, with oleo weaker at 16c. and lard firm at 13^c.
—The semi-annual statement of the Union Discount Co.,
Butter has been quiet and easier; creamery extras 31c.
London, has come to hand and is given in detail on another
Cheese has been quiet and steady; State, f.c., Sept., fancy,
page.
The balance sheet of Dec. 31 1909 shows gross assets 17
%c. Eggs weaker; Western firsts 34@35c.
of $141,601,497, as against $137,203,698 a year ago.
Out
OIL.—Linseed has been dull but firm with supplies light
of the profits for the half-year there was added $100,000 to
and offered sparingly.
City, raw’, American seed, 77@78c.;
the reserve fund, which now stands at $2,800,000; a semi¬
boiled 78@79c., and Calcutta, raw, 85c.
Cottonseed has
annual dividend was paid at the rate of 12% per annum,
been quiet and steady; winter 7.20@7.90c. and summer
calling for $225,000, and after other deductions a balance white
7.20@7.60c. Lard has been strong with an advancing
of $359,524 was carried forward to the next account.
tendency though without quotable change. Demand has
—We are in receipt of a little bound volume containing been
light but stocks are very small and diminishing. Prime
the convention proceedings of the “Fidelity Leaders’ Club’
$1 25@$1 28; No. 1 extra 65@69c.
Cocoanut has been
of the Fidelity Mutual Life Insurance Co. of Philadelphia,
quiet and easier: Cochin 10c., Ceylon 9J^@934c. Olive has
which is sent to us with the compliments of its aggressive been dull and
steady; yellow 70@85c. Peanut has been
No one reading these insurance
President, L. G. Fouse.
quiet and steady; yellow 62@67c. Cod firm and more active;
papers can help being impressed by the spirit of zeal and domestic 38@40c., Newfoundland 42@44c.
earnestness directing the efforts of the leaders in life in¬
COFFEE on the spot has been quiet and steady.
Rio
surance
work.
No. 7, 8**8@8%c., Santos No. 4, 9@9F£c.
West India
—Battles & Co. of 60 Broadway, New York, and 131
growths have been quiet and steady; fair to good Cucuta
South Fifth St., Philadelphia, have opened an uptown office
10@10^c. The speculation in lard futures has been more
at 500 Fifth Ave., corner 42d St.
Louis Agostini will have active of late, but during much of the week the market has
the personal management of this branch.
Battles & Co. been very quiet, with trifling fluctuations in prices. The
recently succeeded to the business of the old firm of Battles, European markets at times have shown noticeable strength
Heye & Harrison and are members of the New York and and spot interests here have made purchases. But, on the
other hand, European selling has occurred and there has
Philadelphia stock exchanges.
—Taylor, Smith & Evans, members New York Stock Ex¬ been more or less liquidation by Wall Street interests.
Closing prices were as follows:
change, 49 Wall' Street, have issued for distribution a very
6.85c. | May
7.00c. September
7.05c.
complete little booklet devoted to “Industrial Common January
February
7.00c. October
6.80c. I June
7.05c.
Stocks.” Ten issues of well-knowTn industrial stocks have March
7.05c. November
6.90c. July
7.05c.
6.95c. I August
7.05c. December
7.05c.
been selected for a review, based on the past records of the Aprils
SUGAR.—Raw
has
been
and
Centrifugal,
quiet
firm.
booklet
be
corporations issuing the stocks. The
will
mailed
to investors on request.
96-degrees test, 4.08c.; muscovado, 89-degrees test, 3.58c.;
Refined has been quiet
—The semi-annual statement of the National Discount Co., and molasses, 89-degrees test, 3.33c.
London, will be found in another column. The gross assets and steady. Granulated 4.95@5.05c. Teas have been
Spices have been
Dec. 31 1909 vrere $99,597,014, deposits and sundry bal¬ steady wTith a moderate jobbing trade.
dull and steady.
Wool
been
firm
more active.
has
and
The company paid a six months’ divi¬
ances, $71,402,310.
dend at the rate of 10% per annum, calling for $211,666; Hops have been firm though less active.
PETROLEUM.—Refined has been fairly active for export
there was added $50,000 to the reserve fund and a balance of
Domestic consumers, howTever, have continued
account.
$303,771 vTas carried forward to the next account.
to buy sparingly, as crude has remained weak.
Prices for
—George H. Burritt, who retires from the firm of Mackay refined have been steady. Barrels 7.90c., bulk 4.40c. and
& Co. Feb. 1, will become on that date a general partner in
cases 10.30c.
Gasoline has been in moderate demand and
the banking house of McCurdy, Henderson & Co., members
steady;
86
degrees
in 100-gallon drums \8%c.; drums $8 50
of the Newr York Stock Exchange and dealers in investment
extra.
Naphtha
has
been quiet and steady; 73@76 degrees
securities, writh offices at 24 Nassau St., New York.
in 100-gallon drums 16%c.; drums $8 50 extra.
Spirits of
—Paul Beardsley & Co., dealers in high-grade investment
turpentine has been dull but firmer at 633^c. Rosin has
bonds, will open offices on the first of February at 141 been quiet and firmer; common to good strained $4 40.
Broadway. Mr. Beardsley was for many years with FarTOBACCO.—There have been no noteworthy develop¬
son, Leach & Co. and A. B. Leach & Co., bankers, and lat¬
ments in the local market for domestic leaf.
Trade has been
terly a member of the firm of Tatlock & Beardsley, now quiet, with prices steady to firm. Sumatra has been less
dissolved.
active, though generally steady. Havana dull and steady.
—The Chicago bond house of Reynolds, Watson & CoCOPPER has been quiet and steady; lake 13%@13J4c.,
announces the appointment of Cuthbert C. Adams as man¬
electrolytic 13.60@13^c., casting 13^@133^c. Lead has
ager of its sales department.
Mr. Adams was formerly been quiet at 4.67 @ 4.72 ^c. Spelter has been quiet at
connected writh Woodin, McNear & Moore and the Illinois 6.10c.
Tin has been quiet and firm; spot 32.60c.
Iron has
Trust & Savings Bank of Chicago.
been steady, though less active.
The sharp decline in the
—While the entire issue of St. Louis Springfield & Peoria stock market has made many buyers wTho were expected*to
No. 1 Northern
RR. first and refunding 5% gold bonds has already been place contracts retire from the market.
$18 50@$19, No. 2 Southern $18 25.
Steel
foundries have
yet
of
N.
Halsey
&
publishes
sold,
the banking firm
W.
Co.
on
another page the advertisement offering $1,500,000 of made larger purchasers of basic iron of late, contracts for
some 50,000 tons’being placed in the East lately.
these bonds, as a matter of record.
310
THE CHRONICLE
[VOL.
COTTON.
On
Friday Night, Jan. 28 1910.
THE MOVEMENT OF THE CROP as indicated
by our
telegrams from the South to-night is given below. For the
New Orleans.
week
ending this evening the total receipts have reached
108,863 bales, against 131,913 bales last week and 159,414
bales the previous week,
making the total receipts since
Sept. 1 1909 5,636,798 bales, against 7,320,672 bales
for the same period of
1908-09, showing a decrease since
Sept. 1 1909 of 1,683,874 bales.
Receipts at—
,
Sat.
Galveston
Port Arthur
Mon.
7,276
Tues.
7,053
Wed.
14,419
Thurs.
9,144
Fri.
4,893
6,829
8,009
Corp. Christi,&c.
New Orleans
Gulfport
9,092
2,921
4,176
6,229
1,564
26,238
131
480
721
516
238
190
2,270
1,844
9,446
300
715
25
532
Mobile
Pensacola
Jacksonville, &c.
229
Savannah
Brunswick
Charleston
1,855
1,777
1,309
1,095
1,432
1,615
1,978
50
46
15
44
300
519
100
587
41
25
65
626
22
387
64
112
48
Georgetown
Wilmington
193
Norfolk
1,000
Newp’tNews.&c.
New York
_
_
.
83
69
608
943
4,810
3,341
3,341
1,602
23
Boston
Baltimore
Philadelphia
27
—
Totals this week
394
2,256
12,784
100
8
—
19,455
20,239
943
23
324
15,397
14,629
35
—
26,359 108,863
The following shows the week's total
receipts, the total
since Sept. 1 1909, and the stocks
to-night, compared with
last year:
1909-10.
Receipts to
January 28.
This
Week.
Galveston
Port Arthurt
Orleans
Gulfport
Mobile
Pensacola
Jacksonville, &c_
Savannah..1
Brunswick
Charleston
Georgetown
Wilmington
25
532
Norfolk
3,341
35
787
943
23
324
New York
Boston
Baltimore
Philadelphia
944
279,430
393,799
12,993
3,765
6,320
46,793
4,810
N’port News, &c_
Total
Since Sep
1 1909.
49,614 2,041,894
8,009
96,280
394
28,777
26,238
848,755
8,108
2,270
187,728
97,841
1,844
35,027
9,446 1,164,148
300
192,597
715
190,812
Corp. Chris., &c_
New
1908-09.
This
Week.
Stock.
Since Sep
1 1908.
99,215 2,765,796
11,186
99,972
8,599
52,392
66,681 1,450,382
15,987
9,784
285,882
101,922
299
24,795
38,167 1,207,415
4,000
269,275
5,201
169,139
25
1,641
10,382
328,235
16,624
442,745
105
5,384
25
13,586
152
11,075
3,947
72,259
364
2,790
*
108,863 5,636,798 274,756 7,320,672
1910.
1909.
164,419
154,881
208,710
302,590
850
30,559
53,731
107,449
6,834
31,197
156,201
12,769
34,582
15,982
41,750
176,807
6,801
14,090
4,522
167,922
7,954
21,612
9,023
799,589
962,696
6,523
24,527
In order that
we
comparison may be made with other years,
give below the totals at leading ports for six seasons:
Receipts at—
1910.
Galveston
Pt. Arthur, &c.
New Orleans.
Mobile
Savannah
Brunswick
Charleston, &c
Wilmington.
49,614
8,403
99,215
26,238
4,810
66,681
9,784
38,167
4,000
5,226
10,382
16,624
943
105
5,567
108,863
2,270
9,446
300
740
532
-
Norfolk
N’port N., &c
All others
Total this wk.
1909.
1908.
1907.
1906.
1905.
89,487
18,936
62,220
9,646
35,143
8,914
5,419
10,647
134,239
15,705
13,335
2,658
5,954
4,787
1,582
15,004
672
28,618
688
2,480
12,646
274,756
284,735
305,290
121,793
140,223
19,785
6,595
81,234
7,005
34,736
4,206
49,046
1,353
37,825
4,420
14,876
1,627
2,054
5,298
882
28,770
8,250
54,773
4,285
16,768
4,611
1,138
1,481
6,813
Since Sept. 1. 5,636,798 7,320,672
6,176,099 7,274,551 5,732,446 6,641,427
The exports for the week
ending this evening reach a total
126,403 bales, of which 43,537 were to Great
Britain,
21,404 to France and 61,462 to the rest of the Continent.
Below are the exports for the week and since
Sept. 1 1909:
of
Week ending Jan. 28 1910.
Exported to—
Exports
from—
Great
ContU
Britain. Fr’nce nent.
Galveston
Port Arthur.
Mobile
Pensacola
Gulfport
Toted.
7,500
15,900 5,809
6,641
7,838
7,500
7,838
..
1,450
._
Brunswick..
Charleston-
1,675
1,450
1,675
Wilmington.
....
Newport News
New York
4,111
Boston
Baltimore
262
803
T20
..
Philadelphia
._
901
219
250
700
691
Portland, Me¬
gan Francisco
Seattle
Tacoma
Portland. Ore.
Pembina
Detroit
I
Great
Britain.
4.592
1,053
820
1.592
572,477 360,479
23.007 15,398
25,917 59,195
39,855 38,418
7.258
193,536 83^991
68,208
5,496
13,495
92,265 15,700
4,800
9M56 36,803
68,826
15,329
33,743
350
5,159
5,159
to—
Conti-
France.
28^350 312" 544 14l"890
...
Savannah
Norfolk
Exported
20,147 7,375 38,852 66,374
Corp.Chrls.,&c.
New Orleans..
From Sept. 1 1909 to Jan. 28 1910.
3’, 900
nent.
Total.
690,532 ,623,488
57,875
96,280
13,140
13,140
170,384 624,818
20,285 105,397
22,492 100,765
7,258
361,839 639,366
84,655 158,259
92,274
105.769
153,474 261,439
368
5,168
59,624
8,242
26,520
10,968
187",583
21,893
16,041
2,447
21,893
16,041
2,447
200
600
200
600
77,068
45,749
44,711
'
Ger¬
many.
11,336
28,373
8,990
506
10,943
22,679
2",200
l'.eoo
5",600
“500
"ioo
"ioo
5,000
Total 1910_.
Total 1909..
Total 1908__
49,614
8,009
394
_
Galveston
Savannah e__.
Charleston.
Mobile
Norfolk
New York
Other ports
Total.
Shipboard, Not Cleared lor—
Great
Britain. France
Jan. 28 at—
47,409
70,300
81,627
21,633
16,428
22,836
34,885
72,320
62,502
472
7,882
Leavino
Total.
Stock.
30,151
85,476
178,559
78,943
107,449
31,197
19,759
17,980
174,907
l",400 10",800
16,602
l“,206
25,646
36,825
44,087
16,602
1,900
11,000
34,866
26,356 155,929
16,232 212,105
30,242 241,294
’
643,660
750,591
603,371
Speculation in cotton for future delivery has been less
irregular prices. The trend has been toward a
slight advance on near months and a small decline on the
distant.
Large spot interests have been buying March and
May and selling May and July and the next
months.
Liverpool has been liquidating a good many crop
straddles by
buying March and May. Spot markets at the South have
still
shown resistance to the recent decline in
futures.
The
Census report on the
ginning up to Jan. 16th was considered
somewhat bullish.
It stated the amount
ginned at only
9,792,990 bales, against 12,666,203 for the same
period last
year and 10,339,551 up to the same date two
years ago.
Also there have been
reports that moderate quantities of the
local stpek have been sold for
shipment to the South., Spin¬
ners have continued to
buy futures to some extent. The
reports from some parts of the Atlantic district have been to
the effect that a rather better
demand for spot cotton pre¬
vailed.
Liverpool spot sales for several days past have
been 10,000 to 12,000>bales a
day. The movement of the
crop has been moderate.
There has been a certain amount
of covering on the recent
decline.
Also some scattered
buying by Wall Street and other houses has
occasionally
been noticeable, the idea
being that after the recent decline of
about $15 a bale some
recovery, even if only temporary,
would not be altogether
surprising. On the other hand,
however,
have
whole
the
distant
deliveries,
as
already intimated,
been
more
or
less
depressed. In
list at times has shown noticeable
fact,
the
weakness,
particularly on days when the stock market gave
sharply. Liquidation has continued for Southern,
local, Wall Street and supposedly for Western account.
Liverpool advices have been on the whole disappointing.
In most sections of the South
spot cotton is said to Ibe quiet.
way
Noticeable weakness has prevailed in futures at New Orleans.
The cotton goods market,
though reported somewhat better
in Manchester, has for the most
part seemed rather sluggish
on this side of the
water, with some decline in certain fabrics.
It grows more and more plain,
moreover, that the next acre¬
age will be very large; that the sales of fertilizers will be of
commensurate size, and, in a word, that
every effort will be
made to raise the biggest
crop ever grown.
Prices are still
high, and there is every incentive to plant an area of unprece¬
dented extent.
As for the bull speculation, the conviction
is deep and widespread that it is over for this
season at any
rate.
The outside public has suffered
severely and the
professional element has naturally not escaped. Under the
circumstances there
seems no
likelihood of
a
revival of active
aggressive speculation for a rise. And with the public
frightened out, professional speculators cautious and spinners
naturally encouraged to continue their policy of buying the
actual cotton from hand to
mouth, few see any likelihood
of any sustained advance.
On the contrary, the consensus
of opinion is that the price will drift to a lower and
lower
level until it reaches a point which will invite the
serious
attention of legitimate trade interests.
To-day prices were
irregular, closing at a small advance on a small crop move¬
ment for the week, firm and in some cases
higher spot mar¬
kets at the South, favorable Manchester
advices, buying by
spot interests and covering of shorts. Spot cotton here ad¬
vanced 5 points.
Middling uplands 14.75c., an advance
for the weex of 30 points.
The official quotation for middling upland cotton in the
New York market each day for the past week has been:
or
Jan. 22 to Jan. 28—
Sat.
14.70
Middling uplands
Mon.
14.35
Tues.
Wed.
14.35
14.50
Thurs.
Frl.
14.70
14.75
NEW YORK
QUOTATIONS FOR 32 YEARS.
The quotations for middling upland at New York on
Jan. 28 for each of the past 32 years have been as follows:
1910_c__. ...14.75 1902.c...
1909
1908
1907
1906.
1905
1904....
1903
...10.00
...11.65
...11.00
...11.70
7.00
1901
1900
1899
1898
1897
...16.25 1896
9.05 1895
8.31
...12.00
8.00
6.38
5.94
7.31
8.25
5.62
..
...
...
...
...
...
...
...
...
1894.C--.
8.06 1886.C...
9.19
9.50 1885
...11.25
7.50 1884
...10.69
1891....
9.31 1883.... ...10.19
1890
...11.00 1882
...12.00
1889....
9.88 1881.... ...11.81
1888
...10.68 1880
...12.81
1887....
9.50 1879
9.44
1893
1892
--
...
...
...
...
...
...
...
MARKET AND SALES AT NEW YORK.
IR
11 1
Spot Market
Closed.
1*31
Saturday.
Quiet,
Monday
Quiet,
Tuesday
Quiet
Wednesday Quiet,
Quiet,
Thursday
Friday
Quiet,
.
..
New York.
Coast¬
wise.
8,847
15,599
6,000
Futures
Market
Closed.
Total
»In’ addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared,1 at the ports named. We add similar figures for
Other
Foreign
active at
350
43,537 21,404 61,462 126.403 1,562,766 761,270
1.813,753 4,137,789
Total 1908-09. 117,676 19,859 60.476 198,0112,523,979
747,110 2,440,916 5,712,005
m
LXXXX.
_
—
■.Total1
._
25 pts. adv.. Steady
35 pts. dec.. Quiet
Steady
15 pts. adv__ Firm
20 pts. adv.. Steady
5 pts. adv.. Steady
Sales of Spot and Contract.
Con-
Con¬
Spot. sum’n. tract.
Total.
4.535
4,535
8,310
6‘,700
1,610
‘600
....
2",ioo 2~,70d
3,300
10,045
2,000
—
5,300
10,800 20,845
mm
Jan. 29
'
FUTURES—The highest, lowest and closing
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AT THE INTERIOR TOWNS the movement—that is,,
the receipts for the week and since Sept. 1, the shipments
for the week and the stocks to-night, and the same items for
the corresponding period for the previous year—is set out
in detail below.
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311
THE CHRONICLE
1910.]
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©®OMit.©©OCi©O®MC0©®Oit.©<I©©©O©©O^tl-‘©t0©O
THE VISIBLE SUPPLY OF COTTON to-night, as
made up by cable and telegraph, is as follows.
Foreign
stocks, as well as the afloat, are this week’s returns, and
consequently all foreign figures are brought down to Thurs¬
day evening. But to make the total the complete fig¬
ures for to-night
(Friday), we add the item of exports
from the United States, including in it the exports of Friday
only.
January 28—
Stock at Liverpool-.Stock at London
Stock at Manchester
1910.
1909.
bales. 1,072,000 1,198,000
3,000
11,000
72,000
70,000
Total Great Britain stock
Stock at Hamburg
Stock at Bremen
Stock at Havre
Stock at Marseilles—
Stock at Barcelona
Stock at Genoa
Stock at Trieste
1908.
972,000
11,000
67,000
1907.
888,000
19,000
65,000
1,147,000 1,279,000 1,050,000
15,000
18,000
7,000
436,000
360,000
311,000
328,000
210,000
479,000
4,000
4,000
3,000
40,000
31,000
9,000
34,000
34,000
74,000
3,000
21,000
1,000
972,000
11,000
413,000
678,000
808,000
238,000
3,000
16,000
126,000
1,000
it.
1-1
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W to 1-11-* HI®®
£. 1-1 to 1-1 to 1-11-1
884,000
Total Continental stocks
860,000
The above totals show that the interior stocks have de¬
creased during the week 12,930 bales and are to-night 109,639
bales less than at the same time last year.
The receipts
at all the towns have been 87,664 bales less than the same
week last year.
OVERLAND MOVEMENT FOR THE WEEK AND
SINCE SEPT. 1.—We give below a statement showing
the overland movement for the week and since Sept, 1, as
made up from telegraphic reports Friday night.
The results
for the week and since Sept. 1 in the last two years are as
follows:
January 28—
Shipped—
.
.
Total European stocks
2,031,000 2,139,000 1,728,000 1,780,000
106,000
163,000
India cotton afloat for Europe—
221,000
148,000
859,476
898,107
American cotton afloat for Europe 324,331
782,032
45,000
60,000
Egypt,Brazil,Ac.,aflt.for Europe.
33,000
68,000
237,000
232,000
Stock In Alexandria, Egypt
225,000
304,000
502,000
Stock In Bombay, India
500,000
550,000
389,000
844,665 1,157,771
Stock In U. S. ports
799,589
962,696
635,894
546,655
Stock In U. S. interior towns
731,941
841,580
74,711
116,546
U. S. exports to-day
14,359 - 72,877
1^52
»3 S
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w
.
1909-10
Since
Week.
Sept. 1.
11,119
268,000
2,962
123,224
1,510
14,985
8,945
65,648
1,228
29,902
3,698
81,175
6,998
112,829
13,979
9,042
3,140
1,640
1,210
12,628
13,946
36,460
695,763
55,585 :1 052,005
3,723
4,488
2,547
57,665
20,348
27,757
397
524
99,710
29,419
20,182
6,803
105,770
5,409
149,311
.29,657
589,993
50,176
902,694
Deduct shipments—
Overland to N. Y., Bost<
Between Interior towns.
533
1908-09
Since
Week.
Sept. 1.
414,587
230,286
17,588
51,780
30,117
120,063
187,584
*
Total visible supply
4,930,220 5,707,185 4,978,342 5,508,483
Of the above, totals of American and other descriptions are as follows:
Total to be deducted
American—
Liverpool stock
Manchester stock
bales
Continental stock
American afloat for Europe
U. S. port stocks
U. S. Interior stocks
U. S. exports to-day
Total American
978,000 1,095,000
59,000
826,000
324,331
799,589
731,941
14,859
56,000
813,000
782,032
962,696
841,580
72,877
795,000
849.000
51,000
50,000
754,000
596,000
898,107
859,476
844,665 1,157,771
546,655
635,894
116,546
74,711
-.-3,733,220 4,623,185 3,863.342 4.365,483
East Indian, Brazil, Ac.—
Liverpool stock
94,000
London stock
Manchester stock
Continental stock
India afloat for Europe
3,000
13,000
58,000
Egypt, Brazil, &c., afloat
Stock In Alexandria, Egypt.
Stock In Bombay, India
Total East India, Ac
Total American
221,000
33,000
225,000
550,000
103,000
11,000
14,000
47,000
148,000
68,000
304,000
389,000
123.000
11,000
16,000
82,000
106,000
45,000
232,000
500,000
93,000
19,000
15,000
54,000
163,000
60,000
237,000
502,000
Including movement by rail to Canada.
The foregoing shows the week’s net overland movement
29,657 bales, against 50,176 bales for the week
and that for the season to date the aggregate net
overland exhibits a decrease from a year ago of 312,701 bales.
has been
last year,
-1909-10In Sight and
Spinners*
Takings.
Receipts at ports to Jan. 28
Net overland to Jan. 28
Southern consumption to
Since
Week.
108,863
29,657
Jan. 28. 52,000
Total marketed
Interior stocks in excess
190,520
*12,930
1,197,000 1,084,000 1,115,000 1,143,000
3,733,220 4,623,185 3,863,342 4,365,483
4,930,220 5,707,185 4,978,342 5,508,483
5.87d.
6.39d.
5.29d.
Middling Upland, Liverpool
7.80d.
11.00c.
9.85c.
11.65c.
Middling Upland, New York
14.75c.
10Md. 10 ll-16d.
8%d.
Egypt, Good Brown, Liverpool..14 5-16d.
9.65d.
11.25d.
7.75d.
Peruvian, Rough Good, Liverpool
lOd.
5d. 5 13-16d. 5 ll-16d.
Broach, Fine, Liverpool
7 7-16d.
5
4
5Hd.
15-16d.
ad.
Tlnnevelly, Good, Liverpool
7 3-16d.
Total visible supply
Continental imports for the past week have been 169,000
bales.
The above figures for 1910 show a decrease from last week
of 64,115 bales, a loss of 776,965 bales from 1909, a de¬
cline of 48,122 bales from 1908, and a decrease of 578,263
bales from 1907.
*
-1908-09Since
Week.
Sept. 1.
Sept. 1.
5,636,798
274,756
7,320,672
589,993
50,176
902,694
1,118,000
50,000
996,000
7,344,791
648,778
374,932
9,219,366
*12,942
727,565
361,990
7,993,569
North’n
•
splnn’s takings to Jan. 28 75,582
Decrease
1,461,168
9,946,931
91,141
1,703,588
during week.
Movement into
Week—
1908—Jan. 31
1907—Feb. 1
1906—Feb. 2
1905—Feb. 3
sight in previous
Bales.
-
365,206
387,012
190,694
191,060
years:
Since Sep 1—
1907-08—Jan. 31
1906-07—Feb. 1
1905-06—Feb. 2
1904-05—Feb. 3
.
Bales.
8,155,957
9.713.318
7,896,734
8,874,312
QUOTATIONS FOR MIDDLING COTTON AT OTHER
MARKETS.—Below are the closing quotations of middling
cotton at Southern and other principal cotton markets for
each day of the week.
312
THE CHRONICLE
Closing Quotations for Middling Cotton
Week ending
January 28.
Galveston
New Orleans
Mobile
Savannah
Charleston
Sat’day.
Monday.
15
15
15
15
15
15
15
15
15
15
14 X
14%
14%
14%
14%
14%
14X
14
%
aging 47.
Friday.
j__-
14%
of the
14%
14%
of
14%
14%
14.70
14.35
14.35
14.50
14.70
14%
14%
14%
14%
14%
14.60
14.60
14 X
14.75
14.95
14 X
15.00
14 %
15%
15%
14X
14%
15%
15%
9786209981
Philadelphia
Augusta
Memphis
...
l
_
14.45
14 X
14.95
14 H
14X
15 X
15%
14 X
14 H
15%
15%
14%
14 %
St. Louis
Houston
Little Rock
14%
15%
15%
14X
14%
15%
15%
14 X
14
X
The thermometer has ranged from 29 to 68, aver¬
14%
14%
inch.
an
The thermometer has averaged 40, the highest
being 63 and the lowest
have
year
14.40
14.52
_
—
14.20-.25 14.29-.31 14.38
—
14.41 —
@ —
14.50-.52 14.42-.48
—
14.47-.52 14.30-.31
@ —
@ —
@ -t@ —
14.53-.55 14.24-.30 14.33-.35 14.35-.38 14.47-.50 14.40-.45
—
M arch—
Range
Closing
April—
Range
Closing
May—
Range
Closing
—
@ .45 14.07-.29 14.38
—
—
—
—
14.51-.72 14.25-.63 14.14-.45 14.30-.56 14.50-.67 14.57-.73
14.69-.70 14.35-.36 14.44-.45 14.53-.54 14.65-.66 14.57-.58
—
-
_
-
_
_
—
—
@
—
—
@
—
—
@
—
—
@
—
@
—
—
14.72.92 14.45-.82 14.28-.64 14.47-.72 14.66-.83 14.75-.90
14.87-.88 14.51-.52 14.64-.65 14.69-.70 16.81-.82 14.76-.77
June—
Range
Closing
@
14.81-.85 14.47-.50 14.56-.58 14.65-.68 14.77-.79 14.69-.72
_
-
@
<® —
@ —
® —
14.94-.96 14.58-.60 14.71-.73 14.76-.80 14.83-.90 14.83-.86
—
_
—
—
@
—
—
@
—
—
—
OPERATIONS FOR YEAR ENDED JUNE
Range
Closing
14.86-.04 14.60-.94 14.39-.76 14.60-.84 14.78-.95 14.89-.03
15.00-.01 14.65-.66 14.76 — 14.80-.81 14.94-.95 14.89-.90
A ugust—
Range
Closing
September—
Range
Closing
Octobr—
Range
Closing
December—
Range
Closing
Tone—
Spot
Options
._
—
_
■
@ .41
14.37
—
—
@
—
—
@
—
—
@
14.11-.15 14.23-.26 14.23
—
—
14.33-.38
@ —
14.38 — 14.18-.20
—
13.33 — 13.08 — 13.13 — 13.15-.19 13.07-.28
@ .21
13.34-.38 13.07-.09 13.19.22 13.18-.20 13.27-.29 13.17-.2Q
—
12.76-.85 12.51-.73 12.43-.62 12.52-.62 12.66-.70 12.60-.71
12.84-. 85 12.54-.55 12.62-.63 12.61-.62 12.69-.70 12.59-.60
@ —
@ .43
@ — 12.32-.44 12.36-.40
@ .42
12.69-.72 12.34-.40 12.42-.44 12.42-.50 12.48-.52 12.39-.42
—
—
—
no:
Of
Mills.
Steady.
Steady.
WEATHER REPORTS BY
Steady.
Quiet.
Steady.
Bombay Island
Bombay Presidency.
Total
_
Rajputana
Berar
Central Provinces
Hyderabad
,
Spindles.
No. *■* Hands
em¬
of -.
ployed.
Central
India.
Mysore
4,304,575
25,400
37,128
191,224
58,970
48,355
416,855
131,544
61,494 162,159 5,193,230 1,483,780
801
1,717
35,280
10,080
786
1,901
44,170
12,620
2,860 12,109
322,826
92,236
765
2,676
72,765
20,790
967
1,756
.42,938
12,268
1,268 10,968
453,866
129,676
554
4,313
153,216
43,776
513
11
1
2
4
400,560
316,952
25,560
28,448
67,660
dZ 59
6,053,231
_
Pondicherry
Total India.
TELEGRAPH.—Reports to
78 and the lowest 38.
Fort Woi'th, Texas.—Dry all the vTeek.
The thermometer
has averaged 56, ranging from 34 to 78.
Palestine, Texas.—We have had rain on one day of the
week, the rainfall reaching twro hundredths of an inch. The
thermometer has ranged from 44 to 78,
averaging 61.
San Antonio, Texas.—Dry all the week.
Average ther¬
mometer 58, highest 80, lowest 36.
Taylor, Texas.—It has been dry all the vreek. Average
thermometer 55, highest 78, lowest 32.
New Orleans, Louisiana.—It has rained on two
days of the
week, the rainfall reaching seventy-four hundredths of an
inch.
The thermometer has averaged 59.
Shreveport, Louisiana.—We have had no rain during the
week.
The thermometer has
averaged 52, ranging from
34 to 70.
Vicksburg, Mississippi.—There has been rain on
during the week, the rainfall being ten hundredths of
one
an
day
inch.
The thermometer has ranged from 32 to
72, averaging 54.
Helena, Arkansas.—Dry all the w^eek. Average ther¬
mometer 46, highest 65 and lowest 27.
Mobile, Alabama.—Rain has fallen on two days of the
week, the rainfall being sixty hundredths of an inch. Aver¬
thermometer 53, highest 67, lowest 39.
Montgomery, Alabama.—There has been rain on two days
the past week, the rainfall being
twenty-three hundredths of
an inch.
The thermometer has
averaged 47, the highest
being 68 and the lowest 28.
Selma, Alabama.—There has been rain on three days
during the wreek, the precipitation reaching one inch and
forty hundredths. The thermometer has averaged 44,
ranging from 25 to 68.
Memphis, Tennessee.—We have had no rain during the
week.
The thermometer has
averaged 45.8, the highest
being 64.2 and the lowest 26.
Nashville, Tennessee.—We have had no rain during the
week.
The thermometer has averaged
45, ranging from 34
to 56.
age
Savannah, Georgia.—There has been rain on two days dur¬
ing the wreek, the precipitation reaching fifty hundredths of
Bales of
392 lbs.
Cwts.
185
53
United
_.
Consumed.
Looms.
39,264 105,751 3,845,464 1,098,704
22,230 56,408 1,347.766
385,076
3
Cl 5
9
Provinces of
Agra and Oudh
Madras Presidency
Travancore
A pproximatc
Quantity of Cotton
2,800,345
1,504,230
2
Bengal Presidency
Punjab
30 1909.
*89
a96
b8
3
__
3,747
2,012
13,023
18,803
672
459,116
441,693
28,966
223
1,391
5,436
37,387
96,047
1,421
131,176
126,198
8,276
10,682
27,442
76,898 236,924 7,381,500 2.109.000
•
Including 3 In course of erection, a Including 14 in course of erection.
b Including 1 In course of erection,
c Including 2 in course of erection.
d 237 working and 22 In course of erection.
We now give a table covering information identical with
the totals given above, which indicates the
cotton
progress made
years:
manufacturing in India during the past 31
PROGRESS
OF
INDIAN
Year ending June 30,
1879
1884
1889
1894.
MILLS
DURING
No.
No.
of
of
Mills. Spindles.
56
79
124
142
188
193
193
192
192
191
197
217
224
241
259
on
'i‘* Of
Daily.
Quiet.
Steady.
by telegraph this evening indicate that the weather has
the whole been favorable during the week.
Where rain
has fallen the precipitation has as a rule been moderate or
light and there has been little or no rainfall in Texas. Pickng is still in progress in some portions of Texas.
Galveston, Texas.—We have had rain on one day the past
week, the rainfall reaching one hundredth of an inch. The
thermometer has ranged from 44 to 70, averaging 57.
Abilene, Texas.—We have had no rain during the week.
Average thermometer 55, highest 82, lowest 28.
Corpus Christi, Texas.—There has been no rain the past
week.
The thermometer has averaged 58, the
highest being
us
No. of
—
Nominal. Nominal. Nominal. Nominal.
Steady.
Average
Jrti'-
—
July—
we
received this week a statement of operations for the
ended Jane 30 1909, and they are given below:
M onday, Tuesday, Wed’day, Thursd’y, Friday,
22. Jan. 24. Jan. 25. Jan. 26. Jan. 27. Jan. 28.
—
MILLS.—Through the courtesy
Secretary of the Bombay Millowners' Association,
Sat’day,
January—
Range
Closing
February—
Range
Closing
23.
EAST INDIA COTTON
of the
NEW ORLEANS OPTION MARKET.—The highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
Jan.
LXXXX.
Charleston, South Carolina.—We have had rain on one day
week, the rainfall reaching one hundredth of an inch.
Average thermometer 48, highest 67 and lowest 29.
Charlotte, North Carolina.—There has been rain on three
days of the week, to the extent of twenty-nine hundredths
14%
14%
14%
14%
Wilmington
Norfolk
Boston
Baltimore
inch.
an
on—
Tuesday. Wed'day. Thursd’y.
[VOL.
1901...
.452 ,794
.001 .667
,762 ,518
.649 ,736
.728 ,333
,945 ,783
.006 ,936
,006 ,965
,043 ,297
.118 .121
,163 ,486
,279 ,595
.333 ,275
,756 ,020
,053 ,231
No.
of
Looms.
13,018
16,262
21,561
31,154
39,069
40,124
41,180
42,584
44,092
45,337
50,139
52,668
58,436
67,920
76,898
THE
PAST
31
in
YEARS
Average
No. of
Approximate
Quantity of Cotton
Hands
Em¬
Consumed.
ployed
Daily.
Bales of
392 lbs.
.
42,914
60,387
91,598
130,461
162,108
161,189
172,883
181,031
184,399
184,779
195,277
208,616
Cirts.
936,547
859.777
110,289
278.778
863,165
086,732
731,090
177,633
087,690
106,681
577,354
082,306
205,696
930,595
221,195 6, 970,250
236,924 7, 381,500
267,585
531,365
888,654
1,222,508
1,675,190
1,453,352
1,351,740
1,765,038
1,739,430
1,744,766
1,879,244
2,023,516
1,980,170
1,991,500
2,109,000
CENSUS BUREAU’S REPORT ON COTTON GINNING—The Division of Manufactures in the Census Bureau com¬
pleted and issued
Jan.
16
as
on
follows
cluding linters).
Jan. 24 its report on cotton ginned to
as half-bales and ex¬
(counting round
Ginned to
Crop Gin'd to
States. Year. Jan. 16. for Year. Jan. 16.
U. S..1909
9,792,990
1908 12.666,203 13,086,005
96.8
1907 10,339,551 11,057,822
93.5
1906 12,176,199 12,983,201
93.8
1905
9,989,634 10,495,105
95.2
1904 12,767,600 13,451,337
94.9
1903
9,485,537 9,819,969
96.6
Ala ..1909
1,028,725
1908
1,316,803
1,332,003 98.9
1907
1,070,090
96.1
1,113,093
1906
1,216,606
1,241,133
98.0
1905
1,202,145
1.22S.000 97.9
Ark ..1909
664,946
1908
93.5
996,093
931,133
1907
88.7
666,810
751,851
1906
894.268
85.4
764,100
1905
534,687
598,915 89.3
Fla ..1909
60,896
1908
68,624
70,598 97.2
1907
53,486
56,668 94.4
1906
60,432
61,473 98.3
1905
75,229
78,838 95.4
Ga ..1909
1,827,752
1908
1,952,113
1,977,050 98.7
1907
95.2
1,771,832
1,860,323
1906,
1,601,922
1,632,703 98.1
1905
98.3
1,695,434
1,725,272
La ...1909
254,018
1908
458,762
466,543 98.3
1907
90.4
598,439
662,032
1906
888,577
955,473 93.0
1905
94.6
484,328
511,738
Miss. .1909
1,028,101
1908
1,551,792
1,620,325 95.8
1907
89.2
1,287,389
1,442,881
1906
1,361,838
1,483,408 91.8
1905
1,084,409 1,168,059 92.8
„
States. Year.
N.Car. 1909
1908
1907
1906
1905
Okla .1909
1908
1907
1906
1905
S. Car. 1909
1908
1907
1906
1905
Tenn .1909
1908
1907
1906
1905
Tex ..1909
1908
1907
1906
1905
Other 1909
1908
1907
1906
1905
Ginned to
Crop Gin’d to
Jan. 16. for Year. Jan. 16.
615,533
661,669
591,851
587,759
637,701
532,251
612,144
782,790
741,633
595,330
1,114,806
1,192,723
1,093,416
887,087
1,092,932
232,146
321,727
238,404
252,533
248,683
2,378,312
3,528,981
2,145,695
3,758,493
2,284,954
55,504
69,732
39,349
55,219
53,802
'
683,628
637.961
611,258
652.815
96.8
92.8
96.2
97.7
689,345
848,977
871,961
660,027
88.8
92.2
85.1
90.2
1,215,848
1,163,565
912,602
1,112,363
98.1
94.0
97.2
98.3
__
^
334,084
266.433
293,023
269,030
96.3
89.5
86.2
92.4
3,627,350
2,208,021
3,957,619
2,432,718
97.3
97.2
95.0
93.9
73,138
46,017
68,280
57,330
95.3
85.5
80.9
93.8
_
-
-
_
-
—Mr. Charles A. Shearson, cotton exchange member of the
firm of Shearson, Hammill & Co. of New York and Chicago,
and very prominent in the trade, died on Saturday night
after an operation at his home for appendicitis.
Mr. Shear-
who was born in Galt, Ontario, about 54 years ago,
went into the cotton trade,first at Savannah while a young
son,
man, but in 1903 moved to New York and founded the
present firm. He was a member of the board of managers'
of the Exchange.
Jan. 29 1910,
THE CHRONICLE
Total bales.
WORLD’S SUPPLY AND TAKINGS OF COTTON.
SAVANNAH—To Revai—Jan. 22—Montauk Point, 1,050..
Week.
4,994,335
Viiflhta supply Jan. 21
Visible supply Sept. 1
177,590
94,000
2,000
11,000
10,000
American in sight to Jan. 28
Bombay receipts to Jan. 28
Other India ship’ts to Jan. 27..
Alexandria receipts to Jan. 26—
Other supply to Jan. 26..
Season.
5,593,524
1,931,022
7,993,569
1,415,000
86,000
606,000
154,000
1,714,982
9,946,931
832,000
128,000
681,000
145,000
361,990
98,000
5,000
34,000
5,000
5,288,925 12,185,591 6,097,514 13,447,913
Total supply
Visible supply Jan.
4,930,220
28
4,930.220 5,707,185
5,707,185
358.705
241.705
117,000
-
—
7.255.371
5.714.371
1,541,000
390.329
319.329
71,000
7.740.728
6.300.728
1,440,000
receipts In Europe from Brazil, Smyrna, West Indies, &c.
Embraces
INDIA COTTON MOVEMENT FROM ALL PORTS.
Antwerp—Jan. 24—Marquette, 691
To
1908-09.
126,403
particulars of the foregoing shipments for the week,
arranged in our usual form, are as follows:
The
—Oth.Europe—Mex.,
Ger-
Great French
ports. many.
North.
South.
100
1,793
6,832
119
262
7,375 30,227
New York—
4,111
Galveston
..20,147
Port Arthur.
New Orleans. ..15,900
Mobile
Savannah
Charleston
1,675
803
Boston
Baltimore
901
Philadelphia
San Francisco
..
...
7,500
_
-
-
Since
Week.
Since
Week.
Sept. 1.
94.000 1.415,000
Bombay
Since
Week.
Sept. 1.
98.000
Sept. 1.
87.000
832.000
880,000
*
Great
Conti¬ Japan
Britain. nent. dcChina Total.
Great
Britain.
Conti¬
Japan
nent.
& China.
Total.
Bombay—
.
7.000 56.000 26,000 89,000
4,000 20.000 25,000
1,000
1,000 15,000 20,000 36,000
33,000
333,000
11,000
9,000
224,000
233,000
1.000
2,000
1,000
2,000
4,000
2,000
1,000
1,000
4,000
3,000
8,000
11,000
18,000
-3,000
6,000
16,000
6,000
8,000
1,000
1,000
-
-
-
1,000
-
^
1,000
1,000
1,000
_
3,000
5,000
1908-09..
1907-08-
....
1,000
319,000
194,000
179,000
685,000
429,000
421,000
14,000
14,000
9,000
2,000
19,000
2,000
18,000
37,000
13,000
7,000
1,000
2,000
1,000
12,000
16,000
27,000
1,000
6,000
11,000
56,000
75,000
89,000
39,000
63,000
70,000
700
691
....
—
—
4,711
7,000 58,000 26,000 91,000
8,000 21,000 30,000
1,000
1,000 20,000 23,000 44,000
55,000
24,000
27,000
383,000
312,000
330,000
323,000
221,000
193,000
771,000
557,000
550,000
ALEXANDRIA RECEIPTS AND SHIPMENTS.
Alexandria, Egypt,
January 26.
1909-10.
1908-09.
1907-08.
80,000
4,542,036
250,000
5,106,057
135,000
5,573,955
Receipts (cantars)—
This week
Since Sept.
1
This
Exports (bales)—
To Liverpool
To Manchester
To Continent
To America
|
This
Since
Week. Sept. 1.1
i
This
Since
Week. Sept. 1.
1
—
97,522
4,250 111,092
I 85,834 17,500 116,930
4,500 181,747 i 8,500 169,364
j 45,525 4,000; 36,325
4,000 151,555
130,532
6_,506 191, 03
1,000 39,210
4,500 410,628 ■34,2501433,711
11,500 512,300
—
Total exports.
1
l
it
■
Havre
Bremen
20
26
25
34
25
18
28
45
Revai
Gothenburg
direct..
Barcelona,
Genoa
Trieste
14
12
18
18
22 *4
20
26
25
34
25
18
28
45
22*4
Hamburg
Antwerp
Ghent, via Antwerp
Japan
very
We give the prices for to-day be¬
for previous weeks of this and last year
sparingly.
low and leave those
for comparison:
1909-10.
1908-09.
Sales of the week
Of which speculators took.
Of which exporters took—
d.
21
28
d.
8.
d.
@
@
®
11M 5
1134 5
11« 5
6
6
6H@10 1
8.26 7X
8.50 7 H
10H
@
10 5-16@
10
@
@
10K
HH 5
6
5
4
4
8.18
7.84
7.56
7.80
d.
Dec.
17
24
81
Jan
7
14
32s Cop
Twist.
Vpl's
10 H
10H
10 H
il
io%
\o%
5
5
5
s.
@10 0
@10 0
@10 0
@9 1034
@9 9
©9
9
d.
d.
8.03 7 H
7 H
7H
SHIPPING NEWS.—As shown
834 lbs. SMrtings. common
to finest.
fd.
@8
@8
6X@8
3
4.82
4.92
4.99
@8
@8
5
8
m 8
7 34
7U
s.
d.
@ 8H
@ 834
@83-16
4
4
4
6
6
4
4
4
4
7
8
9
834
8K
834
8^
Mid
Uvl'n
9
8.
f<x
3*4
434
6
5.07
5.14
5.30
previous page, the
exports of cotton from the United States the past week have
reached 126,403 bales. The shipments in detail, as made
up from mail and telegraphic returns, are as follows:
on a
Tctalba'es.
NEW YORK—To Liverpool—Jan. 22—Baltic, 4,111
4,111
To Havre—Jan. 26—Mexico. 237 upland, 25 foreign
262
To Bremen—Jan. 26—Zieten, 119
119
To Trieste—Jan. 25—Oceana, 100
100
GALVESTON—To Liverpool—Jan. 26—Lugano, 7,333
7,333
To Manchester—Jan. 21—Asuncion de Larrinaga, 12,814
12,814
To Havre—Jan. 21—Miramlchl, 7,375
7,375
To Bremen—Jan.
21—Monarch, 22,365
Jan. 24—Madawaska, 7,862
30,227
To Rotterdam—Jan. 24—Lord Antrim, 262
262
To Antwerp—Jan. 24—Greystoke Castle, 1,581
1,531
To Barcelona—Jan. 24—Ida, 3,000
3,000
To Trieste—Jan. 24—Ida, 1,717
1,717
To Venloe—Jan. 24—Ida, 2,115
2,115
NEW ORLEANS—To Liverpool—Jan. 26—Colonlan, 10,000
10,000
To Manchester—Jan. 27—Manchestes Merchant, 5,300
5,300
To Glasgow—Jan. 25—Samara, 600
600
To Havre—Jan. 26—Virginia, 5,809..
5,809
To Antwerp—Jan. 28—Virgil, 777
777
To Genoa—Jan. 21—Knutsford, 1,655
1,655
To Naples—Jan. 24—Lodovlca, 700
700
To Venloe—Jan. 24—Lodovlca, 2,300
2,300
To Trieste—Jan. 24—Lodovlca, 1,209..
1,209
PORT ARTHUR—To Bremen—Jan. 27—Cayo Bonlto, 7,500
7,500
MOBILE—To Havre—Jan. 25—Aslan, 7,888
..1
7,838
-
-
—
-
—
—
-
—
—
.
_
250
-
-
-
820
1
—
----
_
....
....
—
-
-
1,592
5,159
-
5,159
Wed.
14
12
18
18
Thurs
14
12
18
18
22*4
22*4
20
26
25
34
25
18
28
45
20
26
20
26
25
34
25
18
28
45
25
34
25
18
28
45
as
Fri,
^
14
12
18
18
22 *4
20
26
25
34
25
18
28
45
Jan. 7.
Jan. 14.
Jan. 21.
Jan. 28.
45,000
42,000
1,000
2,000
36,000
10,000
50,000
1,084,000
998,000
92,000
81,000
180,000
130,000
51,000
49,000
1,000
3,000
41,000
4,000
50,000
1,072,000
978,000
56,000
39,000
170,000
118,000
_
The tone of the
each day of the
_
^
^
*
2,000
45,000
4,000
70,000
1,068,000
983,000
56,000
39,000
149,000
99,000
Liverpool market for spots and futures
past week and the daily closing prices of
spot cotton have been as follows:
Market,
12:15
P. M.
Mid.
Saturday.
Monday.
Quiet.
Fair
business
)
)
J
Wednesday. Thursday.
Tuesday.
Moderate
demand.
doing.
Friday.
Fair
business
Good
Fair
business
doing.
demand.
doing.
7.73
7.74
7.70
7.69
7.76
7.80
7,000
8,000
7,000
12,000
.10,000
500
500
500
500
12,000
2,000
Steady at
2 points
Upl'ds
Spec.&exp.
Futures.
Market
Steady at
J 8@10 pts.
Steady at
3@4 pts.
Steady at
5@7 pts.
Steady at
2@4 pts.
opened
\
advance.
decline.
advance.
advance.
Market,
Quiet at
Easy at
Easy at 2 S eady at
1 Steady at
) 5@15*4 6@8*4 pts. 6@7J4 pts. pts. dec. to 6@13V4
advance.
decline.
>4 pt. adv. pts. adv.
J pts. adv.
4
P. M.
500
advance.
Quiet at
7@ 10 pts.
advance.
Barely st’y
at 1*4@3 i
pts. adv. j
The
below.
prices of futures at Liverpool for each day are given
Prices are on the basis of upland, good ordinary
clause, unless otherwise stated.
Col.n
d.
d.
@
@
@
713-16'&
7%
—
—
22*4
2,000
36,000
Actual export
8,000
94,000
Total stock—Estimated
1 ,052,000
Of which American—Est._
960,000
Total imports of the week
100,000
Of which American
78,000
Amount afloat
189,000
Of which American
158,000
Sales, American
The
8H lbs. Start¬
ings, common
to finest.
32s Cop
Twist.
Coin.
Mid.
-
-
J
1
MANCHESTER MARKET.—Our report received by
cable to-night from Manchester states that the market is
quiet for both yams and shirtings. Merchants are buy¬
ing
-
-
LIVERPOOL.—By cable from Liverpool we have the fol¬
lowing statement of the week’s sales, stocks, &c., at that port:
Sales
Egyptian bales weigh about 750 lbs.
Note.—A cantar Is 99 lbs.
-
.
6.932 6,114 5,159 126,403
Tues.
14
12
18
18
Mon.
Sat.
14
12
18
18
Liverpool
Spot.
j
!
1.1
Since
Week. Sept.
.
and 200 bales from New York.
freights at New York the past week have been
_
Total all—
1909-10—
1908-091907-08-
-
-
——
«.
120
7,50(1
28,350
7,838
1,450
1,675
1,053
-
-
5,864
-
_
...
4,592
66,374
Japan since Sept. 1 have been 39,973 bales
Manchester
1909-10..
1908-09.
1907-08Calcutta—
1909-101908-091907-08Madras—
1909-101908-091907-08All others—
1909-10—
-
Total.
The
exports to
from Pacific ports
Exports
from—
-
—
_
1,450
..43,537 21,404 38,546
Total
Cotton
Since September 1.
For the Week.
-
-----
.
Receipts at—
-
777
5,809
7,838
Ac. Japan.
._
1907-08.
5,150
Total
..
1909-10.
January 27.
803
250
120
700
901
691
SAN FRANCISCO—To Japan—Jan. 25—Siberia, 5,159
Britain.
Total takings to Jan. 28
Of which American
Of which other
•
Season.
200
200
1,675
,
Week.
1908-09.
To Norrkoping—-Jan. 22—Montauk Point, 200
CHARLESTON—To Liverpool—Jan. 25—Parlslana, 1,675..
BOSTON—To Liverpool—Jan. 26—Cestrlan, 803
To Yarmouth—Jan. 18—Boston, 250
BALTIMORE—To Havre—Jan. 24—Ikbal, 120
To Bremen—Jan. 27—Cassel, 700
;
PHILADELPHIA—To Liverpool—Jan. 22—Haverford, 901
■
1909-10.
1,050
...
Gothenburg—Jan. 22—Montauk Point, 200
To
Cotton Takings.
Week and Season.
313
prices are given in pence and 100ths.
Sat.
Mon.
Tues.
Thus, 7 57
means 7
Wed.
Thurs.
57-100d.
Fri.
Jan. 22
12 Ya
p.m.
to
Jan. 28.
12*4
p.m.
d.
January
_
Jan.-Feb_
Feb.-Mch.
Mch.-Apr.
Apr.-May.
May-June
June-July
July-Aug.
Aug.-Sept.
Sept.-Oct.
Oct.-Nov.
Nov.-Dee.
Dec.-Jan.
Jan.-Feb.
—
—
_
_
—
—
—
—
7
7
7
7
7
7
7
7
7
6
6
6
6
6
d.
57
57
58
4
12 *4
4
12 *4
4
12 34
*4
4
1234
\2H
p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m.
d.
63*4
63*4
39
94
74*4
65*4
64
64
d.
d.
d.
d.
d.
d.
51
44*4 58
51
44*4 58
52 34 45*4 58*4
60
53*4 47
56
61
55
48
55
48*4 62
63
57
58
50
57
50*4 63 *4
57 *4 50
63 *4 57
57
50 Hi 63
49
63
56 34 57
49
61 *4
55*4
23
36 *4 30*4 31
28
22
31*4
92
80
83
78
87
86*4 87
67
67 *4 60 34 64
73
59*4 68
64
58
59*4 52
55*4 50 *4 59
62 34 57
50 34 54
58
49
57*4
57
58
49
62*4
50*4 54
57*4
56*4
56*4
57 34
59*4 59 34
61
63
v
50*4 51 *4 44
50 34 51 *4 44
51 34 52 *4 45
53
54*4 46 *4
d.
d.
d.
57 *4 61 K 60 H
57 y2 61 V, 60 u
58
62
61'
62
59*4 63
61
64 H 63 Yt
62^ 65 H 64^
62
64 Yi 64 M
60
62 H 6134
39
31^ 31 d
86
89 H 88
66
70
69
57
61 Vtf 60
56
59 X 59
56
59 M 59
BREADSTUFFS.
Friday, Jan. 28 1910.
Prices for wheat flour have been stationary as a rule during
the week, with trade practically at a standstill much of the
time.
There is a feeling among many that wheat and flour
too
high and that purchases of flour can be made on
by following a waitiag policy. From some
parts of the West and the Southwest, however, the reports
are to the effect that a larger business has been
put through,
while at the Northwest trade has increased^and the output
of the mills has continued large.
Rye flour and corn meal
have been quiet and steady.
!
4
Wheat has shown irregularity, but on the whole greater
firmness of late, owing partly to the covering of shorts.
The
European markets have latterly advanced. A blizzard at
are
better terms
314
THE CHRONICLE
[VOL.
LXXXX
the Northwest may
The statements of the movement of breadstuffs to market
cause some temporary falling off in
Gash prices in that section have been strong. indicated below are prepared by us from figures collected by
Farmers there are selling very sparingly.
Northwestern the New York Produce Exchange. The receipts at Western
mills have been buying cash wheat and also the May option. lake and river
ports for the week ending last Saturday and
Flour has been active at Minneapolis.
To some the cash since August 1 for each of the last three years have been:
situation looks firm, at least, for the time being, as stocks
receipts.
at most markets are not burdensome.
Of late there has been
Receipts at—
Flour.
Wheat.
Com.
increasing cash demand at Chicago and Kansas City as
well as at Minneapolis.
The Argentine shipments, though
larger than in the previous week, were much smaller than
for the same week last year.
That is to say, the total
reached 952,000 bushels, against 472,000 in the previous week
and 4,696,000 for the same week last year.
On the other
hand, however, speculation has been adversely affected
by the break in the stock market. The crop outlook in
this country is favorable.
From Europe the accounts are
to the same effect.
The export trade continues dull.
As
regard^ fluctuations in futures here large Chicago interests
are believed to be scalping the market or in the popular
phrase “milking” it. In other words, they buy on declines
and sell on rallies and the smaller traders are caught both
ways.
There is no scarcity of wheat in the world and
speculation for a rise has received a severe blow, stocks and
cotton being object lessons not likely to be soon forgotten.
The receipts of late have been large, both at the Northwest
and the Southwest.
The world's crops this year are reckoned
at anywhere from 300,000,000 to 400,000,000 bushels
more than last year's.
With speculation sluggish, export
trade dead, and supplies in the world seemingly abundant, it
is contended that present prices are too high.
Any deficiency
in the Argentina crop is expected to be more than made up
by bountiful yields in Russia, Australia, India and America.
To-day prices advanced early on stronger cables than
expected, reports of firm and more active cash markets,
light Argentine shipments and commission-house buying.
Later on large receipts and favorable crop news led to
liquidation and prices declined.
Norfolk
Galveston
Mobile
Montreal
St. John
Port Arthur..
Halifax
6,362
79,000
3,647
167,000
32,000
40,000
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.
Sat.
Mon. Tues. Wed. Thurs. Fri.
No. 2 red winter,* f.o.b
__131
130
130
Nom. Nom. Nom.
May delivery in elevator
118 J* 117 $* 118 $* 118 $* 119
118$*
Total week 1910. 358,602
Since Jan. 11910.. 1,106,873
Week 1909
261,092
Since Jan. 11909.. 850,833
886,976
3,603,721
1,596,092
4,062,381
an
July delivery in elevator
109$* 108$* 108$* 109$* 109$* 109$*
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
Sat.
Mon. Tues.
Wed. Thurs. Fri.
May delivery in elevator.
111$* 109$* 110$* 111$* 111$* 111$*
July delivery in elevator
102
100$* 101
101$* 101$* 101$*
September delivery in elevator
97 $*
96 $*
96 J*
97 $*
97 $*
97$*
Indian com futures in New York have been nominal in the
At the West the speculation has continued active.
Prices have shown some irregularity, but on the whole the
trend of the market has been downward.
The receipts have
increased and the demand for cash com has diminished.
main.
Husking has been pushed in some sections and country
offerings have latterly increased. The crop news from
Argentinajhasbeen favorable. Beneficial rains have fallen in
that country. Sentiment among many commission houses at
the West is bullish but among professional traders there the
feeling is that prices are unwarrantably high. Some elevator
interests are also bearish.
To-day prices closed lower on
large receipts, a dull and easier cash market and general
selling.
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK.
Sat.
Mon. Tues. Wed. Thurs. Fri.
Cash corn
75$*
74$*
74
74
74$*
72$*
May delivery In elevator
77 $*
76 $*
76
76
76
76 $*
DAILY CLOSING PRICES OF CORN FUTURES IN CHICAGO.
‘
May delivery in elevator
July delivery Bn elevator
September delivery In elevator
Sat.
__68$*
—67 $*
67 $*
Mon.
67
66 $*
66 $*
Tues.
67$*
67 $*
67 $*
Wed. Thurs. Fri.
67
67 $*
66 $*
66 $*
66 $*
66 $*
66 $*
66 J*
66 $*
Oats for future delivery in the Western market have been
weaker in sympathy with
Country offerings have in¬
com.
creased, though the actual movement of the crop has on the
whole been light.
The cash demand, after being brisk at
one time early in the week, has latterly
diminished, elevator
interests are supposed to view the present prices with dis¬
favor, considering them too high; commission houses have
sold and the buying has been largely to cover shorts.
There
is a deep-seated belief among many that it is only a question
of time when the receipts will increase markedly.
To-day
prices were irregular , closing at a decline on selling by ele¬
vator interests and
liquidation.
The
following
Winter, low grades
Winter patents
Winter straights
Winter clears
Spring patents
Spring straights
Spring clears
are
closing quotations:
64
5
5
5
5
5
FLOUR.
40 @64 60 Kansas straights, sack.65
75 @ 6 15 Kansas clears, sacks
4
40 @ 5 70 City patents
6
00@ 5 25 Rye flour
3
4
50 @ 6 10 Graham flour
30 @ 5 50 Corn meal, kiln dried.-
5,500
Tot.wk.’lO
Same wk. '09
Same wk. ’08
307,851
291,294
367.413
4,466,439
2,442.736
4,394,248
4,093.846
4,678,105
6.966.857
2,828,222
2.860.153
3,771,963
No. 2 white
1,664.032] 226,613
I
1909-10... 11,215,142 170.143,922 83,726,387 12,900,215 47,144,253 4,478,599
1908-09... 11,022.366 160,450,061 72,504,242 95,146.643 54,642,065 4,396.748
1907-08... 9,541,343 148.765,556 101,662,732 103,000,469 44,711,957 4,655,080
1
Total receipts of flour and grain at the seaboard
ports
the week ended Jan. 22 1910 follow:
Flour,
Wheat,
Com,
bbls.
bush.
bush.
120,272
33,384
9,000
55,126
28,214
4,348
15,571
1,650
2,000
202,800
37,888
192,000
98.739
75,910
13,892
6,100
Receipts at—
New York
Boston
Portland, Me
Philadelphia
Baltimore
Richmond
New Orleans *....
Newport News
*
on
3*675
Oats,
Barley,
bush.
bush.
101,250
32.000
361,425
84,206
39,525
5,685
18.087
411,940
41,122
380.600
43,757
40,000
19,000
12.051
9,614
99,251
27,426
49,262
65,000
57,956
7,020
25,000
1,109,421
5,178,811
874,783
3,613,104
746,643
2,180,424
701.843
2,397,219
77,230
246,438
155,100
408,961
17,000
"
Receipts do not Include grain passing
through bills of lading.
for
Rye,
bush.
3,200
15,583
3,910
2.000
117
22,693
81,873
7,895
23,241
through New Orleans for foreign ports
The exports from the several seaboard ports for the week
are shown in the annexed statement:
ending Jan. 22 1910
Wheat.
Com,
Flour,
Oats,
bush.
bush.
bbls.
Rye,
bush.
bush.
379,499
192,000
76,830
247,000
15,970
146,110
77,406
54,763
Exports from—
New York
Portland, Me
Boston
Philadelphia
Baltimore
New Orleans
Newport News
Galveston
Mobile
Norfolk
Port Arthur
St. John
-
r
32,000
167,000
40.000
Halifax
Total week
Week 1909
es
ss as
m
17,059
19,092
1,650
6,018
3,675
2,000
^
900
w
_
«
_
.....
25.666
.....
849,724 267,685
1,170,395 135.849
55,030
25.881
55,133
141,126
7,860
13.828
for the week and since
below:
■Flour
Wheat
Since
Week
Exports for week and Jan. 22.
since July 1 to—
bbls.
United Kingdom....148,279
Continent
28,143
So. & Cent. Amer_. 19,441
West Indies
37,889
Brit. No. Am. Cols..
450
Other Countries-... 33,483
July 1
1909.
bbls.
3,324,561
1,265,778
479.512
.
.
814,097
77,247
159,966
.
.
Total
Total 1908-09
bush,
2,684
4.276
117
_
e©
Peas,
150
The destination of these exports
as
bush.
30,133
79,000
1 ,150,299
1 .694.151
July 1 1909 is
Barley.
9,000
16,785
36,000
60,107
59,000
68.581
300,118
43.757
120,000
12,051
40,000
....
CornSince
Week
Jan. 22.
bush.
July 1
Since
July 1
bush.
Week
Jan. 22.
bush.
934,061 38,241,311
212,236 19,768,392
4,002
220.921
3.675
376,545
359,823
48,986
62,972
4,904,048
99,630
1,398
1909.
1909.
bush.
6.827,376
486,220
1,206,381
32,991
19,239
.267,685 6,121,161 1,150,299 58.333,929
849,724 13,476,255
135.847 6,575,358 1,694,151 83,120,543 1,170,395 15,786.211
The world's shipments of wheat and corn for the week
ending Jan. 22 1910 and since July 1 1909 and 1908 are shown
in the following
Wheat.
Com.
1908-09.
1909-10.
Exports.
Week
Jan. 22.
1909-10.
Since
Since
July 1.
July 1.
Week
Jan. 22.
Bushels.
Bushels.
Bushels.
Bushels.
North Amer. 2.335.000 94,381,000
Russian
3,488,000 133,688,000
Danublan
448,000 13.384,000
1908-09.
Since
Since
July 1.
July 1.
Bushels.
823,000
425,000
825,000
255,000
10,955,000
13,781.000
58,092.000
Bushels.
15,378.400
9,022.500
15.395.500
43.187.500
Total.... 9,647,000 298,721,000 246.786,700 2,328.000
96,289.000
82,983,900
....
_.
Argentine
504,000
15,592,000
2,720,000
152,000
31,104,000
..
Australian...
Oth. countr’s
10.572,000
123,781,700
39,816,000
26,656,000
34,539.000
14,040.000
7.954,000
13,461.000
40
65
10
60
The quantity of wheat and com afloat for
mentioned was as follows:*
Europe
on
dates
Cents.
74 $*
f.o.b. Nominal
f.o.b. Nominal
Com.
United
elev.
f.o.b.
85
Nominal
Barley—Malting
74
@80
Feeding, c.i.f.,N.Y.
Nominal
State and Jersey
104,164
135,083
3 35
Rye,
per bushel—
No. 2 Western
1,343.748
1,816,955!
Since Aug. 1
Wheat.
GRAIN.
Corn, per bushel—
No. 2 mixed
61 26 $*
1 24 $*
No. 2 yellow
Rye.
....
4 50@ 4 75
Wheat, per bushel—
N. Duluth, No. 1.
,N. Duluth, No. 2.
Red winter, No. 2. .f.o.b. Nom.
1 26 $*
Hard winter. No. 2
Cents.
Oats, per bushel—
-52$*i
Natural white
..53 $* i
White clipped
Nominal
Mixed
25@65
30@ 4
80@ 7
90@ 4
50®
1
Barley.
bbls.izms. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bushASlbs. bu.56 lbs.
Chicago
134,873
213,600
1,787,250
1,031,400
342,800
8,000
Milwaukee..
37,450
67.200
162.800
126,000
198,900
17,000
Duluth
8,100
544,273
203,764
125,898
5,684
Minneapolis.
2,440,770
227,290
300,270
516,700
53,980
Toledo
41,000
54,900
..!
27,000
3,000
Detroit
1
1,965
14,303
53,335
29,808
Cleveland
613
13,407
119,217
46,980
6,250
St. Louis...
62,350
465,736
784.300
681,600
88,400
11,000
Peoria
62,500
22.000
464,254
270.400
64,800
Kansas City.
!
654,150
440.500
111,000
DAILY CLOSING PRICES OF
OATS IN NEW YORK. '
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri.
Natural white
53-55$* 52 $*-55 52 $*-55 52 $*-55 52 $*-55 52 $*-55
White Clipped.
54-57$* 53 $*-57 53 $*-57 53 $*-57 53 $*-57 53 $*-57
DAILY CLOSING PRICES OF OATS FUTURES IN CHICAGO.
Sat.
Mon. Tues. Wed. Thurs. Fri.
48
47 $*
May delivery In elevator.
47 $*
47 $*
46 $*
47
July delivery In elevator
44 $*
43 $*
43 $*
43 $*
43 $*
43 $*
September delivery In elevator
41 $* 41
41$*
41$*
40 $*
40$*
Oats.
Jan.
Jan.
Jan.
Jan.
22
15
23
25
1910..
1910..
1909..
1908..
United
Kingdom.
Continent.
Total.
Kingdom.
Continent.
Total.
Bushels.
Bushels.
Bushels.
29.760.000
28,400,000
26.400,000
37.040.000
Bushels.
Bushels.
Bushels.
4,590,000
5,695,000
3,740,000
3.560,000
4,420,000 9.010.000
5,100,000 10,795.000
3.060,000 6,800,000
3,120,000 6,680,000
22,800,000 6,960,000
21,680,000 6,720.000
18,720,000 7,680,000
26,720,000 10,320,000
Jan. 29 1910.
THE CHRONICLE
supply of grain, comprising the stocks in
The visible
at principal points of accumulation at lake and
seaboard ports Jan. 22 1910,’ was as follows:
granary
AMERICAN GRAIN
New York
“
afloat
.
Philadelphia
.
Baltimore
—
Buffalo
2—
Toledo
.
.
.
.
.
Milwaukee
Duluth
.
—
Minneapolis
■St. Louis
.
Peoria
_
Corn,
hush.
bush.
bush.
bush.
bush.
1,076,000
32,000
423,000
230,000
647,000
18,000
110,000
3,008,000
4,408,000
693,000
104,000
348,000
369,000
2,833,000
320,000
3.069,000
3,988,000
1,606,000
2,642,000
18,000
323,000
619,000
1,185,000
34,000
190,000
9,000
1.000
CANADIAN
Wheat,
••
.
.
afloat,
Pert Arthur
.
Oats,
Rye,
Barley,
168,000
Total Jan. 22 1910. .26,265.000
Total Jan. 23 1909. .46,875,000
Montreal
{Ton William
STOCKS.
Wheat,
280.000
6,000
2,303,000
1,190,000
30,000
23,000
441.000
102,000
126,000
55.000
122,000
190,000
6.000
1,000
117,000
620,000
74,000
18.000
265,000
65.000
74,000
2.683,000
126,000
169,000
858,000
728,000
122,000
458,000
2.509.000
436.000
1.439.000
1.063,000
168.000
584,000
480.000
139,000
64,000
44,000
43,000
240,000
4,000
9,986,000
6,549,000
9,118,000
10,099,000
749.000
912,000
4,266,000
GRAIN
Com.
STOCKS.
Oats,
Rye.
Barley,
bush.
•
-
•
rn.fi.
-
23,000
705,000
862,000
75,000
2,000
2.485.000
I
-
bush.
bush.
bush.
163,000
2,078,000
160,000
2,857,000
7,579,000
30,000
153,000
55,000
30,000
32,000
27,000
153,000
378,000
164.000
55,000
55,000
81,000
Total Jan. 22 1910. .12,837,000
Total Jan. 15 1910. .12,727,000
Total Jan. 23 1909.
6,526,000/
.
SUMMARY
Corn,
bush.
bush.
.26,265,000
9,986,000
bush.
Wheat,
Oats,
bush.
bush.
bush.
749,000
.12,837,000
30,000
9,118,000
153.000
2,485,000
55,000
Total Jan. 22 1910..39,102,000
Total Jan. 15 1910._38.975.000
Total Jan. 23 1909..53.401.000
10,016,000
10,494.000
6,576,000
9,271,000
9,920,000
10,253,000
749.000
819,000
912,000
2,540,000
302,400
American
Canadian
Rye.
Barley,
4,347,000
THE DRY GOODS TRADE.
New Yorkf Friday Night, Jan. 27 1910.
While the cotton goods market as a whole continued quiet
during the past week, more activity was noted in certain
lines, especially napped cottons for fall. Leading producers
of the latter named prices showing only moderate advances,
ranging from J^c. to %c. a yard, over last season's, which,
in view of the present cost of the staple, were apparently
considered attractive by buyers, for they applied themselves
freely on these cloths. Not a few sellers who had previously
opened napped goods at advances of lc. and more a yard
were compelled to revise their new
price lists to meet the
lower levels of the largest factors.
In some quarters the
naming of comparatively low prices is being criticized and
Is considered unwarranted, but it seems to furnish additional
evidence that cotton goods, in the opinion of leading inter¬
ests, cannot be moved in satisfactory volume at prices on a
parity with, or even close to, the current value of raw ma¬
terial.
As already indicated, forward business done on
napped cottons is very substantial; some lines are sold ahead
as far as mills care to go, while others
are being sold rapidly;
buyers, in fact, appear to be convinced that these goods have
been priced at levels that will probably not be disturbed by
any further fluctuations in the staple.
A better inquiry and
larger amount of business also developed in staple prints,
315
Bleached goods ruled rather quiet, demand
generally
being moderate and for small lots. Drills and sheetings also
were in light request, with the
exception of certain con¬
structions; prices for forward delivery remained firm, but
spot lots continued to be offered at concessions. Three-yard
brown sheetings are slightly firmer.
Cutters took colored
cottons steadily for near-by delivery, but confined their
operations largely to the cheaper lines. Printed goods displayed more life, but the demand cannot be called broad.
Cotton linings were in better request from large retailers
and
manufacturing trades showed more interest; but jobbers*
operations were limited. The movement of denims, tick¬
ings, wash goods, &c., was of fair proportions. Export
trade, especially with the Far East, continued quiet. Only
moderate transactions were reported in print cloths;
offerings
at concessions became more numerous
during the week,
and an easier tendency developed in standard wide
goods,
which are now quoted at 5J^c. to 6c.; regulars remain (inchanged at 43^c.
WOOLEN GOODS.—Dress goods, notably lines
produced
by the largest factors, continued active under a steady and
quite liberal application of jobbers; certain well-known lines
of all-wool fabrics, as well as lustre goods, have been sold
up
and withdrawn, and other withdrawals are
expected to be
announced shortly.
The call for serges has been unusually
heavy, while, as indicated, lustre fabrics figured prominently
in the orders placed.
Broadcloths were also well regarded
and patronized freely.
In fancy lines for fall trading has
not yet developed to any great extent,
possibly owing to
more or less
uncertainty regarding styles. Cutters and
others are urgently calling for spring goods, and some diffi¬
culty is reported by mills in meeting required deliveries;
serges, diagonals and panamas appear to be in most request.
In men's wear staple and
semi-staple worsteds continued in
active request, some sellers
reporting an increase in the
volume of business
wool
over
last year.
The demand for carded
suitings and overcoatings in some quartersjhasj^been
exceptionally heavy, several mills, it is reliably stated, having
sold their entire season’s output.
During the week the
American Woolen Co. advanced a number of lines
of|plain
worsted goods 2^c. a yard.
FOREIGN DRY GOODS.—In
common
with^domestic
lines, imported woolens and worsteds displayed a fair degree
of activity.
Linens continued firm; jobbers have been press¬
ing importers to deliver all goods due in order to roundjout
their spring and summer assortments; retailers were
sub¬
stantial purchasers of damasks and other
housekeeping
lines
to replenish depleted stocks.
Burlaps ruled steady and un¬
changed, with a fair business.
Importations and Warehouse Withdrawals of Dry Goods.
The importations and warehouse withdrawals of
dry goods
at this port for the week
ending Jan. 22 1910 and since
Jan. 1 1910, and for the
corresponding periods of last year
are as
follows:
.
o
3
H
2
but in most other lines trade with first hands was of the
hand-to-mouth order. Jobbers appear to be fairly well sup¬
H
»
w
H
plied for near-by needs and were not inclined generally to
anticipate requirements far ahead. Converters, too, were
disposed to mark time. In fine and fancy cottons, prompt
deliveries of goods under order for spring are being called for,
and this applies equally to all other lines for that season;
duplicates, however, have not come forward freely, possibly
because initial sales were heavy.
In the primary, silk piecegoods trade the situation and outlook seem to have been im¬
proved by the successful closing out and distribution of large
quantities of goods at sacrifice prices, and it is reported
that most of the largest accumulations have been disposed of.
The call for spring silks shows material improvement.
The
primary dress goods market continued active; demand from
jobbers for corporation goods was of large proportions and
several well-known lines are reported sold up and withdrawn.
In
some
quarters of the men’s
wear
G
Cs
§
1910
Since
Jan.1.
169
25
44
35
35
Great Britain
Other European
China
India
Arabia
Africa
West Indies
Mexico
Central America
South America
Other Countries
Total
.
.
.
i.
-
Week.
25
14
*
tvs to
t-s
o
tvs
|_t
!&
©-ip
© Co
CO to
00
V)
i
05
0»4kMitk
• OWilkOk
2!
*1
o
w
&
**
a
tvs OS !-»
£ * «
P -I OS
a
H
Os Os tvs O
tvs *4
Ok os
3
© os to OS tvS
H
O CO OS *1 to
tvS so tvs CO O'
P I—v I—v OS
®
o ^
oo os )&. tvs es
*■* © OS
ffl ilk
8
w
►
a
5
S*
§
a
30
M tvS 00 «4 tvs
•-* 00 Cs
id
pWHkOO-l©
938
1,965
26
274
72
502
128
968
26
327
4,583
1,091
8,501
537
1,217
2,889
1,051
12,369
3,116
13,737
-
-T-
b» b»
ih»
O' Os
t-v o CD
-4 O' CO rfk. ©
2,051
722
•his
2,233
472
2,808
127
**The value of these New York exports since Jan, 1 has
been $909,508 in 1910, against $796,002 in 1909.
Sf E
m
O 03 00 lU o
Since
Jan. 1.
Ill
56
6
950
542
8,417
!sll
w
SO tvs O
o> tvs ok or-ii
jjeoVv.
O OS M
0
&o
1909
6
814
367
....
©i O
—
market business in
Week.
36
M
3 5
■
heavy weights was satisfactory, but in others demand was
relatively quiet and limited.
DOMESTIC COTTON GOODS.—The exports of cotton
goods from this port for the week ending Jan. 22 were 8,417
packages, valued at $620,103, their destination being to the
points specified in the tables below:
New York to Jan. 22—
o
I
.
WiUO
00 «4 00 00
00 n
00
oo CO tvs
® OS ex <»»> o
• O
w o»
ex
tvs OS 00 o OS
e* os os o> «*
Ok 00 -4 I—. <s|
© Ok GS tvS tvs
o»
©« CO
(kMOMCH
«
e* tvs oo tvs -i
c* o»
0# 00
CO
© 00 © oo
o
Ncsools
CVS Ok O'
tvs tvs
OS 00
co e*
CO tvS
OS 08
<0 tvS
ope* ©
00 00 CD C0
O tvs O tvs
-4 CO OS
Ok rf. 0^4
■4
00 Its.
t-v CO CD
O'
l-k
►
2J
d
*
THE CHRONICLE
316
8TAT£ AND CITY DEfAfrTMm,
rvou
LXXXX
of
a new county to be known as Pennington County.
It is
thought probable that the Board will be restrained from
levying any bond tax for court-house purposes until after
this election is held.
3fce (&hxnmt\t.
PUBLISHED WEEKLY.
Bond Galls and Redemptions*
Terms of Subscription—Payable In Advance
For On© Year
For Six Months
610 00
6 00
European Subscription (including postage)
European Subscription six months (including postage)
Annual
Subscription in London (including postage)
Six Months Subscription in London (including
Canadian Subscription (including postage)
postage)
13 00
...
7 50
&2 141
from
£1 118.
May 1 1895.
Dade County (P. O. Greenfield), Mo.—Bond CaU.—Re¬
funding 4% bonds numbered from 48 to 70 inclusive will be
$11 50
Subscription includes following Supplement!s—
State and City (semi-annually)
Electric Railway (3 times yearly)
Banksns' Convention (yearly)
Bank and Quotation (monthly)
Railway and Industbial (quarterly)
Railway Earnlngs (monthly)
Terms of
Advertising—Per Inch Space
Transient matter per inch space (14 agate lines)
(s times)
Twelve Months (52 times)
87 00
( Two Months
C
$4 20
22 00
29 00
50 00
standingBu»ine«carta) KoS.111*
CHICAGO OFFICE—P. Bartlett, 513 Monadnock Block; Tel. Harrison
LONDON OFFICE—Edwards & Smith, 1 Drapers’ Gardens, E. C.
4012.
WILLIAM B. DANA COMPANY, Publishers,
Front, Pin© and Depeyster Sts.,
New York.
P. O. Hox 958.
News Items.
Indiana.—Gravel Road Law Declared Constitutional.—
The Indiana Supreme Court on Jan. 25,in deciding the case
of S. M. Smith vs. the Board of Commissioners of Hamilton
County, held constitutional the Highway Act of 1905 pro-
yiding for the construction of gravel roads by taxation,
thereby reversing its decision rendered in this case last
November. The reversal of opinion is the outcome of the
rehearing granted Dec. 17 1909. See V. 89, p. 1682.
The opinion is written by Judge Hadley and concurred in
by Judges Montgomery and Myers. Judges Jordan and
Marks both dissented. The latter two Justices wrote opin¬
ions in November declaring the Act unconstitutional.
Argument In the case before the Court centred upon the construction to
be given to Section 63 of the Act of 1905 as amended by Chapter 96 of the
Acts of 1907.
This provides that “whenever a petition signed by fifty or
more freeholders ana voters of any township In any county in this State
Includes any Incorporated town or city in such township having a population
of less than 30,000 Inhabitants, praying,” Ac., the commissioners shall
proceed to carry out the provisions of the Act. It is agreed that this
section as printed contains a clerical error.
The appellants claimed that in
Meu of the word “includes,” there should be read In the section “which
township contains an Incorporated town,” Ac. As this construction would
exclude from the provisions of the section, first, townships containing only
incorporated towns or cities of more than 30,000; and second, townships
having no incorporated towns or cities whatever, it was pointed out that
the Act would be special legislation in violation of Section 22 of Article 4
The appellee’s contention, which the Court upheld,
of the Constitution.
was that the word “includes ’ should be read “including,” thereby making
eligible to become petitioners for gravel roads any freeholder and voter in
any
township with the exception of those residing in incorporated towns
and cities of over 30,000, which latter should be neither taxed or eligible
to participate in such proceeding.
Attention is called in the opinion to the
fact that in the origin of the law the word “includes” was written “includ¬
ing” in all sections and was so repeated by at least five subsequent legisla¬
tures.
“There is no evidence that the word was changed by authority
and every reasonable hypothesis is that it was the result of a clerical error.”
It is held, therefore, that the word “includes” In Section 63 should be
read “Including,” and the construction of the Section as contended by
&DD61166S js sustained
The remaining paragraphs of the complaint deal principally with the
construction of gravel roads of less than three miles in length.
All the
objections to the law, however, are overruled by the Court.
Kentucky.—Proposed Income Tax Amendment to United
of Repre¬
resolution
favoring the proposed amendment to the United States
Constitution which empowers Congress to levy an income
The measure now goes before the Senate. See
tax.
“Chronicle”of July 171909 (p. 177) for amendment in full.
Massachusetts.—Street Railways that Meet Requirements
of Savings Bank Law.—We give below a list of the street rail¬
way companies certified to the Bank Commissioner as having
complied with the provisions of Clause 5, Section 68 of
Chapter 590 of the Acts of 1908. The bonds issued by these
companies will be included in the list prepared by the Bank
Commissioner, of securities in which savings banks may in¬
States Constitution Adopted by House.—The House
sentatives on Jan. 27 by a vote of 69 to 7 adopted a
,
vest under this clause.
Boston Elevated Ry. Co.
Boston A Revere Electric Ry. Co.
Citizens’ Elec. St. Ry. of Newburyp’t
Dartmouth A Westport St. Ry. Co.
East Middlesex Street Ry. Co.
Fitchburg A Leominster St. Ry. Co.
Holyoke Street Ry. Co.
Pittsfield Electric Street Ry. Co.
Springfield Street Ry. Co.
Union Street Ry. Co.
West End Street Ry. Co.
Worcester Consolidated St. Ry. Co.
The Worcester Consolidated Street
added to the list since last year.
Railway Co. has been
NewJYork City.—Legislative Committee on Charter Revision
Reports to Legislature.—The committee appointed by the
Legislature to take up the matter of revising the city charter
made their report to that body yesterday (Jan. 28).
No
newTcharter was submitted by the committee and it is said
thatjthe changes recommended in the existing one are com¬
paratively slight.
Bed Lake County (P. O. Red Lake Falls), Minn.—Decision
by State Supreme Court in Suit to Enjoin Issuance of Court
House Bonds.—A decision has been rendered by the State
Supreme Court in the suit brought by Martin Evenson et al.
to restrain the Board of Commissioners of Red Lake County
from issuing $40,000 bonds for the erection of a new court
house. The Court's ruling is said to be a divided one, stand¬
ing three to two in favor of the county. Local papers state
that at the general election next fall the taxpayers will vote
on the division of Red Lake County and the organization
Cheltenham Township, Montgomery County, Pa.—Bond
CaU.—Payment will be made on March 1 at the Jenkintown
National Bank in Jenkintown, of Class D bonds, numbered
102
redeemed
1899.
to
on
150
inclusive.
Feb. 1.
Denomination
Denomination $1,000.
$500.
Date
Date July 1
Denver, Col.—Bond CaU.—Payment will be made Jan. 31
following bonds:
of the
STORM SEWER BONDS.
Sub-District No. 2 of the Capitol Hill Storm Sewer District No. 1,
Bond No. 7.
Sub-District No. 3 of the Capitol Hill Storm Sewer District No. 1.
Bond No. 5.
Sub-District No. 6 of the Capitol Hill Storm Sewer District No. 1,
Bond No. 10.
Sub-District No. 8 of the Capitol Hill Storm Sewer District No. 1,
Bonds Nos. 17 to 29 Inclusive.
Sub-District No. 9 of the Capitol Hill Storm Sewer District No. 1,
Bonds Nos. 22 to 31 inclusive.
Sub-District No. 13 of the Capitol Hill Storm Sewer District No. 1.
Bonds Nos. 8 to 18 inclusive.
Sub-District No. 14 of the Capitol Hill Storm Sewer District No. 1,
Bonds Nos. 7 to 13 inclusive.
Central Storm Sewer District Bonds, Nos. 14 to 24 Inclusive.
North Denver Storm Sewer District No. 1, Bonds Nos. 11 to 88 inclusive.
Thirteenth Street Storm Sewer District. Bonds Nos. 8 and 9.
SANITARY SEWER BONDS.
East Side Sanitary Sewer District No. 1, Bonds Nos. 103 to 136 inclusive.
Sub-District No. 8 of the East Side Sanitary Sewer District No. 1, Bonds
Nos. 43 and 44.
Sub-District No. 12 of the East Side Sanitary Sewer District No. 1,.
Bonds Nos. 1 to 15 inclusive.
Harman Special Sanitary Sewer District No. 1, Bonds Nos. 27 and 28.
Highlands Special Sanitary Sewer District No. 7, Bonds Nos. 45 to 51
Inclusive.
Highlands Special Sanitary Sewer District No. 8, Bond No. 13.
Highlands Special Sanitary Sewer District No. 9, Bonds Nos. 9 to
Inclusive.
South Capitol Hill Special Sanitary Sewer District, Bond No. 12.
West Colfax Avenue Special Sanitary Sewer District, Bonds Nos. 23
37 inclusive.
IMPROVEMENT BONDS.
Ash Street
Improvement District No. 1, Bonds Nos. 9 to 15 inclusive.
Capitol HIU Improvement District No. 4, Bonds Nos. 107 to 181 inclusive.
East Colfax Avenue Improvement District No. 1, Bonds Nos. 58 to 120
inclusive.
East Denver Improvement District No. 2,
clusive.
Bonds Nos. 116 to 165 in¬
‘
Eighteenth Avenue Improvement District No. 1, Bonds Nos. 68 to 81
inclusive.
Grant Avenue Improvement District No. 1, Bonds Nos. 48 to 52 Inclusive.
Highlands Improvement District No. 1, Bonds Nos. 48 to 57 inclusive.
North Side Improvement District No. 3, Bonds Nos. 11 to 36 inclusive.
South Broadway Improvement District No. 2, Bonds Nos. 52 to 56
inclusive.
South Capitol Hill Improvement District No. 1, Bonds Nos. 42 to 61
inclusive.
Thirteenth Street Improvement District No. 1, Bond No. 25.
PAVING BONDS.
Alley Paving District No. 5, Bond No. 18.
Colfax Avenue Paving District No. 2, Bonds Nos. 34 to 42 inclusive.
Eighth Avenue Paving District No. 1, Bonds Nos. 48 to 69 inclusive.
Welton Street Paving District No. 1, Bonds Nos. 32 to 34 inclusive.
SURFACING BONDS.
Surfacing District No. 3, Bond No- 47.
PARK BONDS.
Highlands Park District Bonds. 258 to 273 inclusive.
Montclair Park District, Bonds Nos. 1 to 329 inclusive.
VIADUCT BONDS.
Fourteenth Street Viaduct District Bonds Nos. 827 to 831 inclusive.
Henry Oounty (P. O. Clinton), Mo.—Bond Call.—Interest
ceased Jan. 16 on4^% refunding bonds dated Oct. 1 1897.
The bonds called are in denominations of $1,000 each and
are numbered from 104 to 117 inclusive.
Perry County (P. O. Perryville), Mo.—Rond Call.—Pay¬
on April 1 of 5% court-house bonds num¬
ment will be made
bered from A-21 to A-26 inclusive.
Date April 1 1904.
Denomination $500.
Pike County (P. O. Bowling Green), Mo.—Bond Call.—
On .Feb. 1 $8,000 4% railroad
refunding bonds of Calumet
Township will be redeemed. The securities are in denomi¬
nations of $1,000 each and are dated April 1 1898.
They are
numbered from 23 to 30 inclusive.
Ralls County (P. O. New London), Mo.—Bond Call.—
This county will redeem on Feb. 1 4% refunding bonds Nos.
149 to 176 inclusive. Denomination $1,000. Date Feb.l 1898.
Webb City, Jasper Oounty, Mo.—Bond Call.—The fol¬
lowing 5% bonds were called for payment on Jan. 1:
52,000 puhllo-sewer bonds Nos. 9 and 10.
Jan. 1 1901.
2,000 funding bonds Nos. 15, 16, 17 and 18.
Jan. 1 1903.
Denomination $1,000.
Date
Denomination $500.
Date
Bond Proposals and Negotiations this week
as follows i
Aberdeen, Wash.—Bond Election.—Papers report that at
the coming municipal election a vote will be taken on the
question of issuing $225,000 refunding and improvement
bonds at not exceeding 5% interest.
Aberdeen Independent School District (P. O. Aberdeen),
Brown County, S. D.—Bids Rejected.—The following bids,
all of which were rejected, were received on Jan. 21 for the
$75,000 20-year high-school-building bond, described in
V. 89, p. 249:
**Y6 been
JAN. 29
THE CHRONICLE
1910.]
Citlzens’Tr. &Sav. B k., Aber$79,700 00 Seasongood & Mayer, Cin. .$78,400 00
78,377 50
Minn.Ln.&Tr.Co.,Mlnneap 79,650 00 McCoy & Co., Chicago
Ulen, Sutherlln & Co., Chf 78,757 00 S. A. Kean & Co., Chicago 78,037 50
Thos. J. Bolder Co., Chic. 78,751 00 Cutter, Waller & May, Cnl 78,000 00
Brown Bros., Aberdeen.- 78,650 00 John Nuveen 8s Co., Chic. 77,910 00
Well, Roth & Co., Clndn. 78,427 50 Chas. H. Coffin, Chicago. 77,451 00
Union Invest. Co., Mlnneap 78,415 00 Coffin ds Crawford,
77,400
—, Chic..
.. ,,„v 00
vw
In addition to their offer for 5% bonds, the Citizens’ Trust & Savings
Bank bid 675,350 for 4 Vis.
A bid for 4 Vis at par, less $500 for attorney’s
fees and blank bonds, was also received from the Thos. J. Bolger Co. of
Chicago. “In nearly every case the bidder agrees to pay accrued Interest
and furnish blank bonds."
Abilene, Taylor County, Tex.—Bonds Registered.—The
$50,000 5% 10-40-year (optional) street-improvement bonds
voted on Dec. 17 1909 (V. 89, p. 1683) were registered by
the State Comptroller on Jan. 21.
317
Denomination $1,000.
Date May 1 1910. Interest semi-annually on
Jan. 1 and July 1.
Maturity $2,500 each six months beginning July 1 1911.
Certified check for $1,000 Is required.
This school city has no debt at
present.
Real valuation
(estimated), $4,000,000.
Bridgeport Independent School District (P. O. Bridge¬
port), Harrison County, W. Va.—Bond Election.—The Board
of Education has passed an ordinance providing that an elec¬
tion be held Jan. 31 to vote on the question of issuing $2,000
5% gold coupon school-building bonds.
Denomination $100.
Interest annually at the
Date March 1 1910.
Bridgeport Bank in Bridgeport. Maturity March 1 1930.
Brookville, Noxubee County, Miss.—Bond Offering.—
Proposals will be received for $7,000 6% water-works bonds.
Denomination $100.
Date Jan. 1 1910.
Interest annual.
Maturity
C. L. Allen is Town Treasurer.
County (P. 0. Accomac), Va.—Bond Sale.—The
Brownsville, Cameron County, Tex.—Bond Election.—An
$15,000 bonds offered on Jan. 3 and described in V. 89, p.
1683, were disposed of on Jan. 12 as follows: $5,000 due election will be held March 8, it is stated, to vote upon a
$2,000 in 1919 and $3,000 in 1920, awarded to Warner Ames proposition to issue $30,000 bonds to repair the water and
of Onacock as 4^£s and $10,000 due $2,000 yearly from light plants.
1914 to 1918 inclusive, awarded to the Eastern Shore of
Buffalo, N. Y.—Bonds Authorized.—Ordinances have been
Virginia Fire Insurance Co. in Keller at 100.69 for 5s.
passed providing for the issuance of the following 4% bonds:
Alliance City School District (P. O. Alliance), Stark $55,000 hospital and site-construction bonds due Feb. 15
1930 and $500,000 water-works-construction bonds due
County, Ohio.—Bond Sale.—The $120,000 4% registered Feb. 15 1960, but subject to call after Feb. 15 1930.
school-building bonds described in V. 90, p. 249, were
Date Feb. 15 1910.
Interest semi-annually at the City Comptroller’s
awarded on Jan. 24 to Barto, Scott & Co. of Columbus at office or at the Gallatin National Bank in New York City, to suit the
101.556. The following bids were received:
purchaser.
Barto, Scott & Co., Coi__$121,867 50 Cleveland Tr. Co., Cleve_$121,452 00
Certificates Authorized.—The Mayor and Comptroller have
Davies, Bertram6sCo.,Cln 121,683 00 Breed & Harrison, Cln__ 121,220 00
been authorized to issue 4% certificates for the following
C. E. Denison & Co., Cle. 121,668 75 Well, Roth & Co., CIn._ 121,080 00
New First Nat. Bk., Col. 121,666 00 Otis & Hough, Cleveland 120,760 00
purposes: $10,000 for the removal of snow and ice and $10,Tlllotson &WolcottCo. ,Cle 121,644 00
600 for the maintenance of the City Court Building.
Maturity $5,000 yearly from 1925 to 1930 inclusive. $10,000 in 1931 and
20 years.
Accomac
$20,000 yearly from 1932 to 1935 inclusive.
Alvin Drainage District (P. O. Alvin), Brazoria County,
Tex.—Bonds Voted.—An election held Jan. 18, it is reported,
resulted in favor of a proposition to issue $193,000 drainage
bonds. The vote was 232 “for” to 71 “against.”
Amarillo Independent School District (P. O. Amarillo),
Potter County, Tex.—Bond Offering.—Proposals will be
received until 2 p. m. Feb. 15 by W. S. Roberts, President
School Board, for the $100,000 5% school-building bonds
voted (V. 89, p. 1438) on Nov. 20 1909.
Denomination $1,000.
DateFeb.il 10.
Interest annually in Amarillo
Austin.
Maturity Feb. 1 1950. Total debt, this issue. Assessed valua¬
tion 1909. $7,450,000.
or
Amsterdam, Montgomery County, N. Y.—Bond Offering.
—Proposals will be received until 8 p. m. Feb. 8 by the
Finance Committee of the Water Commissioners, William
McCleary, George W. West and Janies T. Sugden, for
$100,000 4% registered refunding water bonds.
Authority Chapter 101; Laws of 1881 and Acts amendatory thereof; also
Section 8, Article 2, Chapter 29 of the Laws of 1909.
Denomination $1,000,
unless the purchaser elects otherwise.
Interest semi-annually at the
Farmers’ National Bank of Amsterdam, or, at the option of the purchaser,
at any bank or trust company in New York City.
Maturity 20 years.
Certified check for 2% of bonds bid for, payable to John J. Turner, Treas¬
urer of the Water Commissioners, is required.
The
official notice of this bond offering will be found among
Department.
Anaheim, Orange County, Cal.—Bond Election Proposed.—
According to reports, the trustees have decided to call an
the advertisements elsewhere in this
election to allow the voters to determine whether
or
not
$7,500 intersection-paving bonds shall be issued.
Ashley Irrigation District P. O. Kalispell), Flathead
County, Mont.—Bond Offering.—The offering of $50,000 6%
bonds, which was to have taken place Jan. 15, was post¬
poned until Jan. 31. Proposals will be received by L. A.
Foot, District Secretary, until 6 p. m. on that day.
Bartlesville, Washington County, Okla.—Bond Sale.—The
$40,000 city-hall and the $20,000 fire-equipment 5% bonds,
bids for which were rejected on Dec. 6 1909 (V. 89, p. 1612),
have been disposed of at par and accrued interest to John
Nuveen & Co. of Chicago.
Maturity 1929.
Beekmantown (P. O. Plattsburg), Clinton County, N. Y.
—Bond Sale.—An issue of $6,000 5% 1-12-year (serial)
bonds was disposed of on Jan. 22 as follows: $1,000 to Mrs.
Chas. Shields of Plattsburg at par, $2,000 to Mrs. Etta
Dominy of West Chazy at par, $1,500 to Newton W. Barnes
of Plattsburg at 102.50 and $2,500 to Samuel Weir of Platts¬
burg at 104. The other bidders were:
I. W. Sherrill,
Poughkeepsle$6,101 401G. E. Barber, Plattsburg..$6,000 00
Plattsburg Nat. Bk., Platts 6,060 00 N.WiRobinson,
MorrlsI vllle ($1,500)
1,515 00
Denomination $500.
Date Feb. 1 1910.
Interest annual.
Belleville, St. Clair County, Ill.—Bond Sale.—The $30,000
4% refunding bonds (the unsold portion of the issue of $95,000 bonds mentioned in V. 89, p. 1294) were sold on Jan. 2
to the Belleville Savings Bank and the First National Bank
of Belleville at par and accrued interest.
Maturity $5,000
yearly on Sept. 2 from 1923 to 1928 inclusive.
Big Flats, Chemung County, N. Y.—Bond Sale.—Sawyer,
Novel & Co. of Elmira were the successful bidders on Jan. 20
for the $10,155 60 4^% coupon highway-improvement
bonds described in V. 90, p. 180. Bids were also received
from John Kusale of Horseheads, John J. Hart of Albany,
N.|W. Harris & Co., W. N. Coler & Co., Geo. M. Hahn and
Edmund Seymour A Co., all of New York City. Maturity
$2,000 yearly beginning Feb. 1 1922..
I* Bluffton School City (P. O. Bluffton), Wells County, Ind.
—Bond Offering.—Proposals will Be received until 2 p. m.
Feb. 10 by C. H. Plessinger, Treasurer of the Board of School
Trustees, for $49,500 4% school bonds.
.
Date Feb. 1 1910.
Principal and interest are payable July 1 1910 at the
City Comptroller’s office.
Buncombe County (P. O. Asheville), No. Caro.—Bond
Offering.—Proposals will be received until 11 a. m. Feb. 8
by J. E. Rankin, Chairman of the Board of County Commis¬
sioners, for from $45,000 to $50,000 coupon bridge bonds.
Bids are requested for 4^% and 5% bonds.
Denomination $1,00:.
Park Bank i
from county
Is required.
Authority Chapter 802, Public Laws of 1909.
Date March 1 1910.
Interest semi-annually at the National
New York City.
Maturity 20 years. Bonds are exempt
taxes.
Certified check for $500, payable to the Chairman,
Cameron County (Tex.) Drainage District No. 1.—Bonds
Not to Be Issued at Present.—No action will be taken looking
towards the issuance of the $204,600 drainage bonds voted
in Dec. 1909 (V. 89, p. 1684) until the next meeting of the
Commissioners’ Court, which will be held Feb. 13.
Campbell County (P. O. Rustburg), Va.—Bond Election
Not Yet Ordered.—The Clerk of this county advises us that
no election has yet been ordered for the purpose of submit¬
ting to the voters the question of issuing the $200,000 road
bonds mentioned in Y. 89, p. 1098.
Canton Union School District (P. O. Canton), Stark
County, Ohio.—Bond Offering.—Proposals will be received
until 12 m.
Feb. 17 for $36,000 4% coupon tax-free
school-improvement bonds.
Authority
Section
Revised
3994,
Statutes.
Denomination
$1,000.
Date Feb. 17 1910.
Interest semi-annually at the office of the Treasurer
of the Board of Education or at Kountze Bros, in New York City.
Ma¬
turity Feb. 17 1930. Certified check on a bank in Canton for $1,000 is
required. Bids must be made upon forms furnished by the Board of Edu¬
cation.
Purchaser to furnish blank bonds at his own expense.
W. C.
Lane is Clerk.
Oatawissa, Columbia County, Pa.—Bond Election.—An
proposition to
election will be held Feb. 15 to vote upon a
issue $10,000 5% town-hall tax-free bonds.
Centerville Independent School District (P. O. Center¬
ville) , Appanoose County, Iowa.—Bond Offering .—Proposals
will be received until 2 p. m. April 2 by J. B. Brinkshaw,
Secretary of Board of Education, for $20,000 4% bonds.
Denomination $1,000.
Date May 3 1910. Interest semi-annually in
Centerville.
Maturity May 3 1930, subject to call after 10 years.
Bonded
debt, including this Issue, $37,000.
Assessed valuation $750,000.
Chattanooga, Tenn.—Bond Sale.—On Jan. 3 the Security
Savings Bank & Trust Co. of Toledo purchased $1,675 08 6%
bonds of Paving District No. 37.
The price paid was $1,682 58 (100.447) and accrued interest.
Denomination $335 01.
Date Nov. 22 1909.
Interest annual.
Ma¬
turity one-fifth yearly from 1910 to 1914 Inclusive.
Chelsea, Mass.—Note Sale.—The $90,000 notes mentioned
in V. 90, p. 250, were disposed of on Jan. 25 to Blake Bros.
& Co. of Boston at 3.98% discount.
Maturity Nov. 21 1910.
Bond Sale.—On Jan. 25 the $100,000 4% 50-year coupon
city-hall bonds described in Y. 90,
p.
250,
were
sold to E. M.
Farnsworth & Co. of Boston at 108.31 and accrued interest
—a basis of about 3.639%.
The other bidders were:
Blodget, Merritt & Co., Bos. 108.088 Chelsea Savings Bank, Chel¬
R. L. Day & Co., Boston
sea ($50,000).
106.00
107.557
Eatabrook & Co., Boston
Crocker & Fisher, Boston
107.14
102.79
Adams & Co., Boston
N. W. Harris As Co., Boston. 102.201
106.84
Ohewelah, Stevens County, Wash.—Bond Offering.—Pro¬
posals will be received until March 1 by the City Council
for $11,000 6% coupon refunding bonds.
Authority, Chapter 150, Laws of 1909.
Date
Denomination $100.
April 1 1910. Interest semi-annually at the Town Treasurer’s office.
Maturity 20 years. Certified check for 2% of bonds, payable to the Town
Treasurer, Is required.
Chicago (Ill.) West Park District.—Bond Election.—An
April to vote upon the question of
issuing $1,000,000 bonds for the purchase and improvement
of small parks.
Ohillicothe, Livingston County, Mo.—Bond Sale.—The
$50,000 electric-light bonds voted Dec. 23 1909 (V. 90, p. 123)
were awarded on Jan. 17, it is stated, to the W. R. Compton
Bond & Mortgage Co. of St. Louis at 103.313.
election will be held in
318
THE CHRONICLE
Cincinnati, Ohio.—Bonds Authorized.—The City Council
authorizing the issuance of the fol¬
lowing 4% coupon bonds:
has passed ordinances
$2,357 60 street-oiling bonds.
1910.
1,051 00 street-oiling bonds.
2,124 97 street-oiling bonds.
1910.
Date Sept. 12 1900.
Maturity Sept. 12
Date Nov. 3 1900.
Maturity Nov. 3 1010.
Date Aug. 23 1909.
Maturity Aug. 23
1,000 bonds to widen Kirby Road. Date Jan. 1 1910. Maturity 20 years.
30,000 public-bathhouse bonds. Date Jan. 1 1910. Maturity 20 years.
1,000 Kirby Road widening bonds.
Maturity
Date Jan. 1 1910.
Jan. 1 1930.
12,000 Eighth and Glenway avenues widening bonds. Date Jan. 1 1910.
Maturity Jan. 1 1930.
4,500 Beldare and Bathgate Avenue widening bonds. Date Jan. 1 1910.
Maturity Jan. 1 1930.
20,000 police-station-site bonds.
Maturity 40 years.
Denominations $500 or any multiple thereof.
Interest semi-annual.
5% bonds offered
[VOL.
LXXXX.
Jan. 12, and described in V. 90, p. 124,
bidders.
Dawson County (P. O. Lexington), Neb.—Bond Election.
-~An election will be held March 19 to vote upon a proposi¬
tion to issue $100,000 court-house bonds.
Dayton, Ohio.—Bond Offering.—Proposals will be received
until 12 m. Feb. 9 by Geo. W.
Bish, City Auditor, for the
following coupon bonds:
on
failed to attract any
$9,000 5% Haynes Street sewer-construction bonds.
Maturity $1,000
yearly on Feb. 1 from 1911 to 1919 inclusive.
170,000 4% Stewart St. bridge-construction bonds.
Maturity $5,000
yearly from 1921 to 1923 Inclusive, $10,000 yearly from 1924
to 1928 Inclusive and $15,000 yearly from 1929 to 1935 In¬
clusive.
Denomination $1,000.
Date Feb. 1 1910.
Interest semi-annually in
New York City.
Certified check on a national bank for 5% of each Issue
bid for, payable to the City Auditor, is required.
Bonds will be delivered
Oleveland-ColIinwood, Ohio.—Annexation Agreement Com¬ to
the successful bidder on Feb. 9.
pleted.—We were advised recently that annexation arrange¬
ments had practically been completed.
Dayton,
Eddy County, N. Mex.—Bond Offering.—Pro¬
The question of
annexing Collinwood was approved by the voters at the gen¬ posals will be received until 8:30 p. m. March 1 by J. D. Mc¬
eral election in Nov. 1907.
See V. 85, p. 1290.
Bride, City Clerk, for $15,000 6% coupon water-works bonds.
Authority, Chapter 33, Acts of 34th Legislature, Act of Congress apColonial Beach, Westmoreland County, Va.—Bond Elec¬
Eroved
eld
March
8 1898Denomination
and a vote of$1,000.
48 "for” Date
election
Jan.
11 1910.
to none
"against”
tion Proposed.—We received a letter from the Town Clerk
March
1 1910.at interest
on Jan. 10 and
July 10 at the Western National Bank in New York City.
on Jan. 3 stating that the $10,000 bond election mentioned
Maturity March 1 1940, subject to call after March 1 1930. Certified check
for 2% of bonds bid for, payable to the Town Treasurer, Is
in V. 89, p. 1439, had not yet been ordered.
required.
Delaware, Delaware County, Ohio.—Bond Offering.—Pro¬
Colorado.—Bonds Awarded in Part.—A letter received by
posals will be received until 12 m. Jan. 31 by F. D. King,
us on Jan. 27 stated that $166,800 more of the $950,000 3%
Auditor, for the following 5% coupon street-improve¬
20-year coupon funding bonds dated July 1 1909 and men¬ City
ment assessment bonds:
tioned in V. 88, p. 1684, had been disposed of.
This makes $13,067 94 West Winter St. bonds.
Denomination $700 except one bond
a total of $673,800 bonds issued to date.
As already re¬
of $467 94.
Maturity on March 1 as follows: $467 94 in 1911
and
$1,400 yearly from 1912 to 1920 inclusive.
ported by us, these bonds are being exchanged at par and
accrued interest for certain warrants
or
certificates of indebt¬
edness, issued during the years 1899, 1903 and 1904 for the
of suppressing insurrection and defending the State.
Colorado Springs School District No. 11 (P. O. Colorado
Springs), Colo.—Bonds Voted.—The election held Jan. 22
resulted in favor of the proposition to issue the $250,000
school building bonds mentioned in V. 90, p. 180.
The vote
was 250 “for” to 100 “against.”
Columbus, Muscogee County, Ga.—Bond Election.—An
election will be held Feb. 12 to vote upon a proposition to
issue $100,000 43^% gold coupon bridge-building bonds.
purpose
Denomination $1,000.
Interest semi-annual.
The Issue, If authorized,
will take the place of $75,000 4% bonds voted for this purpose on Sept. 10
1907.
The former amount was Insufficient and It was also found that the
Interest rate was too low to enable the city to sell the bonds at par.
Columbus, Platte County, Neb.—Bond Election Proposed.
holding a $15,000 bond election. The City
Clerk states, however, that he does not think the matter will
be decided upon before the early part of April.
Columbus, Ohio.—Bonds Authorized.—Ordinances pro¬
viding for the issuance of the following 4% coupon improve¬
ment (assessment) bonds were passed on Jan. 10:
—There is talk of
$9,000 Centner St, bonds.
Sept. 1 1910.
6,000 Ninth St. bonds.
Corpus Christi, Tex.—Bond Offering.—Proposals will be
m. Feb. 18 by O. O.
Wright, City Secretary,
for $140,000 5% 10-40-year sewer bonds.
Interest semi¬
annual.
Certified check for 5% of bid is required.
Bonds Registered.—On Jan. 21 the State
Comptroller
registered $90,000 5% coupon water-works bonds. These
received until 12
were
sold
on
Oct. 14 1909 to Coffin & Crawford of
Chicago at 101.666.
See V. 89, p. 1099,
Corsicana, Navarro County, Tex.—Bond Sale.—An issue
of $20,000 5% sewer bonds was awarded on Jan. 15 to the
Dallas Savings Bank & Trust Co. of Dallas at 102.25 and
.
blank bonds.
Denomination $1,000.
Date Dec. 15
Maturity 40 years, subject to call after 15
1909.
Interest
semi-annual.
years.
Covington, Kenton County, Ky.—Bond Offering.—Pro¬
posals will be received until 5p.m. Jan. 31 by H. G. Klosterman, City Clerk, for $1,140 69 Washington St. and $3,688 60
Kruse Ave. 6% improvement bonds.
Denomination $100.
Interest semi-annual.
Cusseta, Chattahoochee County, Ga.—BondEl ection.—
upon a proposition
to issue $2,500 6% school-building bonds.
An. election will be held Feb, 17 to vote
Authority Act of General Assembly approved Aug. 17 1908.
Denomina¬
tion $250.
Date May 2 1910.
Interest annually at the Bank of Cusseta.
Maturity May 2 1930.
Danville, Va.—Bonds Not
to be Offered at Present.—We
advised under date of Jan. 22 that the Finance Committee
is not yet ready to announce the sale of the $100,000
4%
30-year street and bridge-improvement bonds mentioned in
V. 89, p. 1612.
David City, Butler County, Neb.—Bonds Not Sold.—The
are
$20,000 water-extension and the $20,000 electric-light-plant
obligations.
Des Moines, Iowa.—Bonds Authorized.—A resolution was
passed by Council on Jan. 21 providing for the issuance of
$50,000 6% bonds to pay for river front property condemned
for park purposes.
It is said that arrangements have been
made for the sale of these bonds to local banks.
Dieterich School District No. 29 (P. O. Dieterich), Effing¬
ham County, Ill.—Bond Offering.—An issue of $6,500 5%
school-building bonds will be offered at public auction on May 1
(this date falls on Sunday, but is so given by the District
Clerk).
Denomination two bonds of $2,000 and one of $2,500.
Interest annually
in Dieterich.
Maturity part yearly on May 1 in 1911, 1912 and 1913.
Bonds are exempt from taxes.
The district has no debt at present. As¬
sessed valuation 1909, $102,000.
Maturity Sept. 1 1921, subject to call after
Maturity Sept. 1 1921, subject to call after
Sept. 1 1910.
1,000 alley-improvement (west of Sixth St.) bonds.
Maturity Sept. 1
1921, subject to call after Sept. 1 1910.
30,000 Glenwood Ave. bonds.
Maturity March 1 1922.
8,000 Slcoto St. bonds.
Maturity Sept. 1 1921, subject to call after
Sept. 1 1910.
4,000 Stauring St. bonds.
Maturity Sept. 1 1921, subject to call after
Sept. 1 1910.
6,000 Wesley Ave. bonds. Maturity Sept. 1 1921, subject to call after
Sept. 1 1910.
3,000 Marlon St. bonds.
Maturity Sept. 1 1921, subject to call after
Sept. 1 1910.
1,000 Hawthorne Ave. bonds.
Maturity Sept. 1 1921, subject to call
after Sept. 1 1910.
1,100 alley-improvement (west of Nell Ave.) bonds.
Maturity Sept. 1
1921, subject to call after Sept. 1 1910.
,3,000 Graham St. bonds.
Maturity Sept. 1 1921, subject to call after
Sept. 1 1910.
Denomination $1,000.
Date not later than March 1 1910.
Interest
March 1 and Sept. 1 at the City Treasurer’s office.
securities
1,398 76 Van Deman Ave. bonds.
Denomination $150 except one bond
of $48 76.
Maturity on March 1 as follows: $48 76 in 1911 and
$150 yearly from 1912 to 192 0 Inclusive.
2,047 69 West Central Ave. bonds.
Denomination $200 except one
bond of $247 69.
Maturity on March 1 as follows: $247 69 In
1911 and $200 yearly from 1912 to 1920 Inclusive.
2,237 65 South St. bonds.
Denomination $225, except one bond of
$212 65.
Maturity on March 1 as follows: $212 65 in 1911 and
$225 yearly from 1912 to 1920 Inclusive.
Date Dec. 31 1909. Interest semi-annually at the office of the
depository.
Sinking Fund Trustees.
Purchaser to pay accrued Interest.
Official
circular states that the city has never defaulted in the payment of Its
Duluth, St. Louis County, Minn.—Bond Sale.—The $50,-
000 5% 1-5-year (serial) gold coupon Garfield Ave. paving
bonds offered on Dec. 13 1909 and described in V. 89, p.
1439, were sold on Dec. 20 1909 at par and accrued interest.
They were disposed of as follows: $30,000 to the N. J.
Upham Co., $10,000 to the Western State Bank and $10,000
to E. It.
Jefferson, all of Duluth.
Durant, Bryan County, Okla.—Bid.—On Jan. 18 Seasongood & Mayer of Cincinnati submitted a bid of 100.1675 for
.the following coupon bonds, described in V. 90, p. 180:
$10,000 5% bridge bonds due Oct. 1 1929.
20,000 6% light bonds due Feb. 1 1930.
20,000 6% water-extension bonds due Feb. 1 1930.
East Cleveland School District (P.
O. East Cleveland),
Cuyahoga County, Ohio.—Bids.—The following bids were
received for the $100,000 4J^% 20-year coupon school bonds
awarded on Jan. 20 to the Cleveland Trust Co. of Cleveland
at 108.07 (V. 90, p. 251):
Cleveland Tr. Co.,
Cleve.$108,070 00 ITillotson & Wolcott Co.,
Cleveland
Miller & Co.,
$107,315 00
Cleveland
107,600 00 Otis & Hough, Cleveland 106,612 00
C. E. Denison & Co..Clev. 107,333 75 E.H.Rollins & Sons.Chlo. 105,840 00
Hayden,
East St. Louis, Ill.—Bonds Delivered.—We are advised
that the $675,000 5% coupon bonds described in V. 90,
were delivered to the Mercantile Trust Co.
Jan. 18.
The bonds are issued by the city
Louis for the construction of an outlet sewer.
p.
124,
on
of St. Louis
of East St.
El Paso County Common School District No. 2, Tex.~
Bond Sale.—We are advised that the $6,000 5% bonds regis¬
tered on Nov. 29 1909 (V. 89, p. 1613) by the State Comp¬
troller have been disposed of to funds of El Paso County at
par and* accrued interest.
call after 15 years.
Maturity 20
years,
subject to
Emery County (P. O. Castle Dale), Utah.—Bonds to Be
Offered Shortly.—We are informed that some time during
February the County Treasurer will advertise for sale $35,000
5% steel-bridge-construction and main-road-improvement
bonds.
Authority vote of 528 to 125 at an election held Jan. 8 1910.
Denomina¬
Date Feb. 7 1910.
Interest March 1 and Sept. 1 at the
County Treasurer’s office in Castle Dale. Maturity 20 years, subject to
call after 10 years.
Total bonded debt, Including this issue, $43,500. No
floating debt. Assessed valuation 1909, $2,325,726
Real value (esti¬
tion $1,000.
mated). $6,000,000.
Essex
County (P. O. Salem), Mass.—Note Offering.—Pro¬
posals will be received until 11 a. m. Feb. 7 by the County
Commissioners for the discount of $300,000 notes issued in
anticipation of the collection of taxes.
Maturity $100,000 on Nov. 15 1910, $100,000 on Nov. 30 1910 to3
by the City Trust Co. of Boston under the advice of Storey, Thorndike,
Palmer &
Thayer of Boston.
David I. Robinson is County Treasurer*
Jan.
291910.]
THE CHRONICLE
Falconer, Chautauqua County, N. Y.—Bonds Voted.—An
a
proposition
to issue $60,000 paving bonds.
The vote was 159 “for” to
election held here Jan. 25 resulted in favor of
63
“against.”
Fayetteville, Lincoln County, Tenn.—Bond Sale.—An
issue of $20,000 5% city high-school-building bonds was
awarded recently to A. J. Hood & Co. of Detroit at 101.23.
Denomination $500.
20 years, subject to call
-
Date June 1 1909.
after 10 years.
Interest annual.
Maturity
Fergus Falls, Ottertail County, Minn.—Bonds Proposed.—
City Council has applied to the State Board of Invest¬
ment for a loan of $8,000 at 4% interest.
The
Findlay School District (P. O. Findlay), Hancock County,
Ohio.—Bonds
in
favor
of
Voted.—The election held Jan.
19
resulted
the
proposition to issue the $25,000 school¬
building bonds mentioned in Y. 90, p. 180.
Fitchburg, Mass.—Temporary Loan.—A temporary loan
of $100,000 has been negotiated with F. S. Moseley & Co. of
Boston at 3.52% discount and a premium of $3 87.
Floyd County (P. O. New Albany), Ind.—Bond Sale.—
According to reports, the $210,000 4% coupon funding
bonds described in V. 89, p. 1613, were sold on Jan. 27 to
Breed & Harrison of Cincinnati and the Fletcher National
Bank of Indianapolis, jointly.
Maturity $10,000 yearly on Jan. 1 from 1911 to 1929 Inclusive and
$20,000 on Jan. 1 1930.
Foard
County Common School District No. 6, Tex.—
Registered.—The State Comptroller registered $3,000
5% bonds on Jan. 17. Maturity 20 years, subject to call
Bonds
after 10 years.
Galesburg, Knox County, HI.—Bond Election.—The elec¬
given the opportunity on April 5 of voting “for”
or “against” the question of
issuing $75,000 water bonds.
^Glendale, Cal.—Bonds Authorized.—According to reports,
the Trustees have voted to issue $14,000 light bonds.
Glenn Springs School District No. 82 (P. O. Glenn
Springs),
Spartanburg County, So. Car.—Bond Offering.—Proposals
tors will be
will be received until 12 m. Feb. 12 by the Trustees at the
office of Nicholls & Nicholls in Spartanburg for $4,000 5^2%
319
Hastings, Adams County, Neb.—Bond Election.—An elec¬
tion will be held March 8, it is stated, to vote upon a propo¬
sition to issue $50,000 street-paving bonds.
Highland Park, HI.—Bond Election Proposed.—We are
probable that the question of issuing bonds
for general corporate purposes will be submitted to the
voters at the general election in April.
Hillsboro School District (P. O. Hillsboro), Highland
County, Ohio.—No Bonds to he Issued at Present.—The Clerk
advised that it is
of the Board of Education advises us that this district will
not issue any bonds for some time.
This information was
sent in reply to our request for the vote cast at the election
which, it was stated, was to be held Dec. 14 1909 to vote on
the question of issuing $10,000 school-building bonds.
Hoboken, N. J.—Bond Offering.—Proposals will be re¬
Feb. 9 by the Mayor and City Council for
$250,000 4% coupon or registered school bonds.
ceived until 4p.m.
Interest semi-annual.
required.
Maturity 30 years.
Certified check for $5,000 is
James H. Londrigan is City Clerk.
The
official notice of this bond offering will he found among
Department.
Holyoke, Mass.—Temporary Loan.—Geo. Mixter & Co. of
the advertisements elsewhere in this
Boston have loaned this city $100,000 until next November
at
3.61% discount and $1 25 premium.
Hood County (P. O. Granbury), Tex.—Bonds to he Issued
Next Month.—The County Judge writes us that the $25,000
Precinct No. 1 road bonds, voted on Nov. 20 1909 (V. 89,
1496), will be issued in February. He further states that
preliminary steps have been taken, but that the bonds
cannot be issued until the regular term of the Court,
which
begins Feb. 14.
Hood River, Wasco County, Ore.—Bond Offering.—Pro¬
posals will be received until 12 m. Feb. 15 by H. B. Langille,
City Recorder, for the $90,000 5% coupon bonds voted on
Nov. 12 1909, for the purpose of installing a municipal water
system. V. 89, p. 1368.
p.
all
Denominations $100 to $1,000, to suit purchaser.
Date Feb. 15 1910.
Interest semi-annually at the City Treasurer’s office.
Maturity Feb. 15
1930.
Certified check for $1.000, payable to the City Treasurer,
is re¬
Bo ded debt, this issue.
quired.
FI at i.g debt $3,000.
Assessed valuatl n 1909 $1,705,000.
Hopedale, Harrison County, Ohio.—Bond Offering.—This
village is offering for sale $3,600 4J^% sidewalk bonds.
These securities take the place of the $3,900 4% bonds
offered on Aug. 16 1909.
The sale of $1,900 of this issue
on that day (Aug. 16) to H. S. Allison of
Hopedale (V. 89,
Gloucester, Mass.—Temporary Loan.—A loan of $125,000, p. 487) was never consummated.
due Oct. 14 1909, has been negotiated with Estabrook & Co.
Huntingdon, Huntingdon County, Pa.—Bond Sale.—An
of Boston at 3.59% discount and a premium of $1.
issue of $8,000 street bonds, recently authorized, has been
Grainger County (P. O. Rutledge), Tenn.—Bond Offering. subscribed for by local investors.
—Proposals will be received until 12 m. Feb. 12 by A. M.
Huntingdon, Carroll County, Tenn .—Bond Election.—An
Nance, Secretary of County Road Commissioners, for $100,- election will be held Feb. 5 to vote upon
a proposition to
000 5% road bonds.
issue $10,0005%20-year street-graveling and
lighting bonds.
Authority, Act of the General Assembly approved April 9 1903. De¬
nomination $1,000.
Huntsville, Madison County, Ala.—Bond Election.—It is
Date Feb. 1 1910.
Interest on Jan. 1 and July 1 at
the Trustee’s office in Rutledge.
Maturity 30 years. Certified check for
reported that an election will be held Feb. 28 to vote on the
$1,000, payable to the Secretary, Is required. No bonded debt at present.
question of issuing $20,000 for the purchase of property on
Floating debt, $3,000.
which to erect municipal buildings.
Greencastle, Franklin County, Pa.—Bond Election.—An
election will be held in February, it is stated, to vote upon a
Huron, Beadle County, So. Dak.—Bond Election.—An
proposition to issue $40,000 bonds for the purchase of the election will be held Feb. 1, it is reported, to vote upon a
water plant.
proposition to issue $30,000 bonds in order to install a new
water-works-svstem.
Greensboro, No. Caro.—Bond Election.—Local papers re¬
Hyde Park, Norfolk County, Mass.—Bond Sale.—On Jan.
port that in addition to the proposition to, issue the $35,000
5% 30-year additional-school-building bonds, to be voted 25 the $30,000 4% coupon sewerage bonds described in
upon March 1 (V. 89, p. 1685), the question of issuing $125,- V. 90, p. 252, were sold to H. C. Wainwright <fe Co. of Bos¬
000 power-plant bonds will also be submitted to a vote of ton at 102.49 and accrued interest.
Following are the bids:
H. C. Wainwright & Co
the people on the same day.
102.49
Blodget, Merritt & Co..
101.166.
Adams & Co
101.26
Crocker & Fisher
100.533R.
L.
Day & Co_
101.197 Blake Bros. & Co
Greenville, Meriwether County, Ga.—Bond Sale.—The
101.01
Estabrook & Co
.101.19
following 5% bonds offered on Jan. 4 and described in V. 90,
The above bidders are all of Boston,
Maturity $3,000 yearly on Oct. t
p. 64, have been sold to the Robinson-Humphrey Co. of from 1910 to 1919 inolusive.
Atlanta at 102.35; $2,000 electric-light bonds due Dec. 1
Jackson, Miss.—Bond Election.—An election will be held
1919; $6,000 electric-light bonds due Dec. 1 1929; $6,000 to-day (Jan. 29) to vote on the question of issuing the fol¬
sewerage bonds due Dec. 1 1929, and $16,000 water-works lowing bonds, aggregating $258,000:
$95,000 for water
bonds due Dec. 1 1939.
works, $98,000 for street paving, $5,000 for sidewalks,
Guadalupe County (P. O. Seguin), Tex.—Bonds Regis¬ $9,000 for repairing the city hall, $30,000 for school building
tered.—On Jan. 20 road bonds aggregating $50,000 were improvements, $6,000 for Third Ward fire station, $10,000
registered by the State Comptroller. They carry 5% interest for sanitary sewers and $5,000 for storm sewers and bridges.
and mature in 40 years, but are subject to call after 10
Janesville, Wis.—Commission Form of Government De¬
years.
Hamler, Henry County, Ohio.—Bids.—The following were feated.—The election held Jan. 11 (V. 90, p. 125) resulted in
among the bids received on Jan. 24 for the $8,333 50 5% a vote of 622 “for” to 1017 “against” the proposition to
coupon Randolph and Marion streets improvement assess¬ adopt the commission form of government.
ment bonds described in V.
Jeff Davis County Common School District No. 4, Tex.—
90, p. 252:
citizens Nat. Bk.,Wooster.$8,637 401
Napoleon State Bk., Nap. .$8,419 50 Bonds Registered.—We are advised that the State
Otis & Hough, Cleveland._ 8,543 501 Sec. S. B. & Tr. Co., Toledo
Comptroller
8,409 50
on Jan. 18 registered
$6,000 5% 15-40-year (optional) bonds
Hardin County (P. O. Kenton), Ohio.—Bond
Offering.— of this district.
Proposals will be received until 12 m. Jan. 31 by Elmer
Jefferson, Ashtabula County, Ohio.—Bond Offering.—
J. Carey, County Auditor, for $14,580
5% ditch-construction Proposals will be received
until 12 m. Feb. 14 by T. B.
bonds.
Miller,
Village
Clerk,
for
the
$20,000 4^% coupon sewageAuthority, Sections 4479-4481, 4482, Revised Statutes and amendments.
Denomination of bonds: 5 of $125, 4 of $550, 3 of $365, 3 of $1,090, 1 of
disposal-plant bonds voted on Dec. 4 1909 (V. 90, p. 1686).
$150, 3 of $100, 4 Of $255, 2 of
coupon
bonds.
Denomination $500.
Date Jan. 1 1910.
Interest semi-annually at the
Merchants’ Exchange National Bank In New York City.
Maturity $1,000
in each of the years 1920 and 1925 and $2,000 in 1930.
Certified check
on a national bank for 5% of amount,
payable to the school district, is
required.
R. H. Smith, J. M. Williams and J. C. White are the Trustees.
$300, 1 of $490, 4 of $155, 3 of $305, 3 of
$485, 3 of $260, 4 of $65, 4 of $40 and 4 of $160 each.
Date Feb. 1 1910.
Interest semi-annually at the County Treasurer’s office.
Maturity $4,895
in 1911, $4,255 in 1912, $3,955 in 1913, $1,350 in 1914 and
$125 in 1915.
Certified check on a bank in Kenton for $200, payable to the
County Aud¬
itor, is required.
.
2142c, Revised Statutes.
Denomination $500.
Interest semi-annually at the Village Treasurer’s office.
Maturity on Feb. 1 as follows: $500 yearly from 1920 to 1929 Inclusive
and $1,000 yearly from 1930 to 1944 inclusive.
Certified check for 1% of
bonds bid for, payable to the Village
Treasurer, is required. Purchaser to
pay accrued Interest.
Harrisburg, Dauphin County, Pa.—Bond Election.—An
election will be held Feb. 15 to vote upon a
proposition to
Johnstown, Cambria County, Pa.—Bond Election.—Re¬
ports state that an election will be held early in February to
vote on the question of
issuing $367,000 school-building
.
issue
$1,041,000,14%!5-30-yearJ(serial)fpublic-improvement
bonds,
^
_
'
Authority
Section
Date Feb. 1 1910.
bonds.
THE CHRONICLE
320
Joplin, Mo.—Bond8 Authorized.—The issuance of $40,000
current-expense bonds was authorized at a meeting
of the
[VOL.
LXXXX.
$9,250 5% 10-40-year (optional) school-building bonds on
Jan. 22.
Council held Jan. 18.
Middlesex County (P. O. Lowell), Mass.—Temporary Loan.
—Dispatches
state that on Jan. 27 the County Commissioners
Kandiyohi County (P. O* Willmar), Minn.—Bond Offering. borrowed
for 9 months from F. S. Moseley & Co. of
$100,000
-—Proposals will be received until 2:30 p. m. March 15 by Boston at
3.64% discount and a premium of $385.
Thos. H. Olson, Chairman of the County Board, for $46,388 15 5% drainage bonds.
Middletown, Butler County, Ohio.—Bond Offaring.—Pro¬
Authority Chapter 230, Laws of 1905. Denomination $1,000. Date posals will be received until 12 m. Jan. 31 by John Kunz,
May 2 1910. Interest in January and July. Maturity on July las follows:
City Auditor, for $2,942 10 4j^% coupon sewer (assessment)
324.130 51 in 1919 and $22,227 64 In 1920. Bonds are exempt from taxes.
Certified check for $2,000, payable to the County
bonds.
Treasurer, is required.
Kissimmee, Osceola County, Fla.—Bond Election Proposed.
—This city is considering the advisability of calling an elec¬
tion to vote on the question of issuing $50,000 bonds.
Kleburg School District (P. O. Kleburg), Dallas County,
Tex.—No Action Yet Taken.—Up to Jan. 7 no further action
had yet been taken looking towards the issuance of the 5%
20-year school-building bonds mentioned in V. 89, p. 949.
Labette County (P. O. Oswego), Kans.—Bonds Voted.—
Three townships in the county recently voted in favor of
issuing $31,500 interurban-railway-aid bonds. We are in¬
formed, however, that the bonds will not be issued until the
road is in operation, which, it is expected, will be in three
years.
Lafayette, Ga.—Bond Election Postponed.—An election
was to have taken place Dec. 15 1909 to vote on the
question of issuing $40,000 water and light bonds was post¬
poned until March 15.
Lakeland, Polk County, Fla.—Bond Offering.—Proposals
will be received until 2 p. m. March 1 by H. L. Swatts, City
Treasurer, for $25,000 public-school, $18,000 electric-light
and water-plant and $22,000 water-main-extension 5%
which
,
bonds.
Authority, Section 87, Municipal Code.
urer,
in
Date
is required.
Milano, Milam County, Tex.—Bonds Voted.—An election
held here Jan. 15, it is stated, resulted in favor of a proposi¬
tion to issue $3,500 school-building bonds.
The vote was
24 “for” to none “against.”
Miles, Runnels County, Tex.—Bond Offering.—Proposals
will be received until 2 p. m. Feb. 17 by Geo. S. Graves,
Mayor, for $20,000 5% coupon water-works bonds.
Denomination $1,000.
Date Jan. 1 1910.
Interest semi-annually at
the State Treasurer’s office.
Maturity 1950, subject to call after 20 years.
Bonds are exempt from taxes.
Certified check for 2% of bid, payable to
the Mayor, is required.
No bonded or floating debt at present. Assessed
valuation 1909 $599,741.
Milford, Seward County, Neb.—Bonds Voted.—The elec¬
tion held Jan. 18 resulted in favor of the propositions to
issue the $13,000 water and $7,000 electric-light 5% 5-20-
(optional) bonds mentioned in V. 90, p. 181.
County (P. O. Glenwood), Iowa.—Bond Sale.—An
issue of $5,000 6% drainage bonds, proposals for which were
asked until Jan. 4, was sold on Jan. 20 to the Mills County
year
Mills
National Bank of Glenwood at par.
Denomination $1,000.
Date Jan. 1 1910.
Interest semi-annually at the National Park Bank
New York City.
Maturity 30 years, subject to call after July 1 1921.
Denomination $294 21.
Jan. 1 1910.
Interest semi-annually at the National Park Bank in New
York City.
Maturity part yearly from 1911 to 1920 inclusive. Bonds are
exempt from taxes.
Certified check for $100, payable to the City Treas¬
Date Nov. 2 1909.
Interest semi-annual.
Ma¬
turity Nov. 2 1914.
Minneapolis, Minn.—Bond Offering.—Further details are
offering on Feb. 10 of the $100,000
4% grade-school bonds mentioned in V. 90, p. 253. Pro¬
bonds.
posals will be received until 2 p. m. on that day by the Com¬
Lemmon, Perkins County, So. Dak.—Bond Sale.—The mittee on Ways and Means at the office of Dan C. Brown,
$25,000 20-year water-works bonds offered on Dec. 6 1909 City Comptroller.
and described in V. 89, p. 1497, have been awarded to a
Authority, Chapter 156. General Laws of 1909. Denominations $50.
$100, $500 or $1,000, at option of bidder.
Date Jan. 1 1910. Interest
Chicago firm at 96 for 5s.
semi-annually at the fiscal agency in New York City.
Maturity Jan. 1
Certified
check
for
2%
bonds
1940.
of
bid
for,
payable to C. A. BloomLowell, Kent County, Mich.—Bond Sale.—An issue of
City Treasurer, is required. Purchaser to pay accrued interest.
$7,000 5% lighting and power-plant improvement bonds qulst,
Official circular states that the city has never defaulted or delayed the pay¬
was awarded on Jan. 17 to the Thos. J. Bolger Co. of Chicago
ment of principal or interest of its bonds.
at 105.65.
The official notice of this bond offering will be found among
Denomination $1,000.
Date Feb. 15 1910. Interest semi-annual.
advertisements elsewhere in this Department.
the
Maturity part yearly on Feb. 15 from 1917 to 1923 Inclusive.
Monroe School District (P. O. Monroe), Monroe Oounty,
McKinney, Collin County, Tex.—Bonds Registered.—The
State Comptroller on Jan. 22 registered an issue of $20,000 Mich.—Bond Sale.—The $50,000 4% road-improvement
5% city-hall and street-improvement bonds maturing $500 bonds voted on Nov. 30 1909 (Y. 89, p. 1497) were disposed
of on Jan. 20 to the Bumpus-Stevens Co. of Detroit at
each year.
101.335.
A list of the bids received follows:
Macon, Ga.—Bonds to be Offered Shortly.—This city will
Par less
be on the market about March 1 with the $100,000 paving Bumpus-Stevens Co., Det—101.335 Chas. H. Coffin, Chicago
1$224*
Security Trust Co., Detroit.-101.076
W. E. Moss 4b Co., Detroit
375
and $100,000 sewer 4% gold coupon bonds voted (V. 89,
B. Dansard 4s Sons’ Bk., MonlOl
490
Detroit Trust Co;, Detroit...100.604 Farwell Trust Co., Chicago.
p. 1614) on Dec. 8 1909.
Farson, Son 4s Co., Chicago
500
Thos. J. Bolger Co., Chicago. 100.15
N.
W.
First Nat. Bank, Monroe
100.07
Halsey 4b Co., Chicago... 733
Mahoning County (P. O. Youngstown), Ohio.—Bond Of- A. B. Leach 4b Co., Chicago..100.032
S. A. Kean & Co.. Chicago
1,500
Denomination $1,000.
faring.—Proposals will be received until 1p.m. Feb. 21 by
Date March 1 1910.
Interest annual.
the County Commissioners for $400,000 4% court-house and
Mt. Sterling, Montgomery Oounty, Ky.—Bond Sale.—The
jail bonds.
$50,000 5% gold coupon sewer-system bonds described in
Authority, Sections 870 and 871, Revised Statutes.
Denomination
V. 90, p. 181, were awarded on Jan. 18 to the Union Sav¬
$1,000. Date March 1 1910. Interest semi-annually at the County
Treasurer’s office.
Maturity $8,000 each six months from March 1 1911
ings Bank & Trust Co. of Cincinnati at 102.312 and accrued
to Sept. 1 1935 Inclusive.
Certified check on a bank In Mahoning County interest.
The following bids were also received:
for 510,000, payable to C. T. Truesdale, Treasurer, Is required.
Bonds will
Lander, Fremont County, Wyo.—Bond Offering.—Propos¬
als will be received until 8p. m. Feb. 1 byE. W. Hainworth,
Town Clerk, for $25,000 5% coupon water-works-extension
at hand relative to the
•
be ready for delivery on March 1 1910.
Mandan, Morton County, No. Dak.—Bonds Voted and
Sold.—The proposition to issue the $10,000 artesian-well¬
refunding bonds, mentioned in V. 90, p. 181, was favorably
voted upon Jan. 18. Arrangements have been made with
the State of North Dakota to take these bonds as 4s!
Marlin, Tex.—Bond Election.—Reports state that the City
Council has passed an ordinance providing for the holding
of a $15,000 school-improvement bond election.
Massachusetts.—Bond Offering.—According to dispatches,
proposals will be received until 12 m. Feb. 10 by Elmer A.
Stevens, State Treasurer at Boston, for $4,791,000 3^%
bonds.
Matagorda County Drainage District No. 1, Tex.—Bonds
Registered.—An issue of $114,000 5% 12-year (average)
bonds was registered by the State Comptroller on Jan. 19.
Medford Township (P. O. Medford), Burlington County,
N. J.—Bonds Not to be Issued at
$50,8551Seasongood 4b Mayer, Clncln_$50,542
Well, Roth 4b Co., Cincin
E. H. Rollins & Son, Chicago 50,805 A. B. Leach 4b Co., Chicago.. 50,000
HarrisTr. 4b Sav. Bk., Chic.. 50,7171
A bid of par was also received from four local banks.
Maturity on Dec. 15
as follows: $1,500 yearly from 1910 to 1913 Inclusive. $2,000 yearly from
1914 to 1918 inclusive, $2,500 yearly from 1919 to 1923 inclusive, $3,500
yearly from 1924 to 1928 inclusive, and $4,000 in 1929.
Muskegon, Mich.—Note Sole.—An issue of $30,000 6%
has been disposed of, $20,000 to the
National City Bank of Grand Rapids and $10,000 to the
Muskegon Savings Bank of Muskegon.
Nampa and Meridian Irrigation District, Ada and Canyon
Counties, Idaho.—Bonds Not Sold.—No award was made on
Jan. 17 of the $80,000 6% coupon canal-lining bonds of¬
fered on that day and described in Y. 90, p. 181.
The bonds
will now be offered at private sale.
Nashville Township Road District, Nash Oounty, No. Oar.
notes due Feb. 15 1910
be received until 8 p. m.
Chairman of the Board of
Supervisors, for the $20,000 6% coupon road-improvement
Present.—Referring to the bonds
mentioned in V. 90, p. 64.
reports that this township proposes to issue $30,000 sewer
bonds, the Clerk writes us that “nothing will be done in the
matter until 1911.”
Mercedes Independent School District (P. O.
sewer
Mercedes),
Hidalgo County, Tex.—Ronds Registered.—On Jan. 17 the
State Comptroller registered $14,000 5% 10-40-year (optional)
Bond Offering.—Proposals will
Feb. 7 by George N. Bissett,
Denomination $100 or $500, as preferred by purchaser.
Date Jan. 11910.
Interest semi-annually in New York at bank of buyer’s choice.
Maturity
Jan. 1 1940.
Certified check for 5% of par value or bonds bid for, payable
to the Chairman, is required.
No debt at present. Assessed valuation
1910, $2,500,000.
Nebraska City, Otoe County, Neb.—No Action Yet Taken.
to Dec. 21 1909 no action had yet been taken in the
—Up
bonds.
matter of re>offering the $80,000 4)^% 5-20-year (optional)
Meridian, Bosque County, Tex.—Ronds Registered.— coupon building bonds, bids for which were rejected no
School house refunding 6% bonds amounting to $1,500 were Feb. 15 1909. See V. 88, p. 1155.
registered on Jan. 21 by the State Comptroller. Maturity
Newburgh Heights, Ohio.—Bond Offering.—Proposals will
30 years, subject to call after 10 years.
be received until 12 m. March 1 by A. H. Shatto, Village
Mexia, Limestone County, Tex.—Bonds Registered.—We Clerk (P. O. Willow), for $5,000 5% coupon Independence
have been informed that the State Comptroller registered Road improvement bonds.
Jan. 29
THE CHRONICLE
1910.]
Denomination $500.
Date Feb. 15 1910. Interest semi-annually at the
Maturity Feb. 15 1930.
Certified check for 5% of amount bid Is required.
Bids must be made upon
blanks furnished by the Village Clerk.
These bonds were offered on Jan. 17,
but, owing to the discovery of an error, all bids received were returned to
the bidders.
See V. 90, p. 254.
Broadway Savings & Trust Co. In Cleveland.
Newman, Stanislaus County, Gal.—Bond Sale.—Accord¬
ing to reports, the Central National Bank of Oakland was
recently awarded $30,000 4
sewer bonds at par.
Denom¬
ination $1,000.
Date Dec. 31 1909.
Normal, McLean County, HI.—Bond Offering.—Proposals
will be received until 7 p. m. Feb. 7 by J. H. Keys, Town
Clerk, for $9,000 5% coupon street-improvement (town's
portion) bonds. These bonds are part of the $36,000 bonds
voted Sept. 18 1909.
See V. 89, p. 874.
Denomination $1,000.
Date Jan. 2 1910. Interest annually at the
Town Treasurer’s office.
Maturity March 31 1911. Purchaser to pay
accrued Interest.
Delivery $8,000 Feb. 15 1910 and $1,000 June 1 1910.
North Yakima, Yakima County, Wash.—Bond Election
Rescinded.—On Jan. 17 the City Council repealed the ordi¬
nance which provided that an election be held Jan. 31 to
vote upon a proposition to issue $310,000 5% 20-year water-
plant-purchase bonds.
Norton, Wise County, Va.—Bond Election Proposed.—We
see it stated that petitions are being circulated
throughout
the town requesting the Council to call an election to vote
on propositions to issue $35,000
street-improvement, $15,000
city-hall and $20,000 sewer-system bonds.
Norwalk, Fairfield County, Conn.—Bond Sale.—This city
has disposed of $10,000 4% water coupon (with privilege of
registration) bonds at par. These securities are the unsold
portion of the issue of $70,000 bonds mentioned in V. 89,
p. 1614, of which $60,000 were sold on Nov. 11 1909 to
331
Orchard Mesa Irrigation District (P. O. Grand Junction),
Mesa County, Colo.—Bond Sale.—The $175,000 10-20-year
bonds dated Dec. 1 1909 and offered on Dec. 22 1909 (V. 89,
p. 1497) have been sold to the Orchard Construction Co. of
Chicago at 95 for 6s.
Osborne School District (P. O. Osborne), Osborne County,
Eans.—Bonds Voted.—Reports state that a proposition to
issue $25,000 additional-school-building bonds was favorably
voted upon-at an election held Jan. 19.
Palestine, Anderson County, Tex.—Bond Offering Postponed.—The City Secretary advises us that, owing to the
“unavoidable absence of Mayor Bowers,” the opening of
the bids received for the $18,000 4>^% 10-40-year (optional)
fire-station bonds was postponed from Jan. 24 to Jan. 31.
See V. 90, p. 127, for a description of these securities.
Palm Beach County (P. O. West Palm Beach), Fla.—Bond
Offering.—Further details are at hand relative to the offer¬
ing on Feb. 10 of the $200,000 4J^% coupon road-improve¬
ment bonds mentioned in V. 90, p. 254.
Proposals will be
received on that day until 12 m. by the Board of County
Commissioners at the office of the Clerk, Fred. E. Fenno.
Authority, vote of 299 to 58 at election held Dec. 14 1909. Denomina¬
tion 200 bonds of $500 each and 100 bonds of $1,000 each.
Date March 1
1910.
Interest semi-annually at the Hanover National Bank of New York
City. Maturity 30 years. Certified check for 1 % of par value of bonds bid
for Is required. Official circular states that there Is not now, nor Is there
threatened, any litigation whatever affecting these bonds.
Assessed valuation 1909, $3,697,234.
Bonded debt,
this issue.
Paris, Tex.—Bond Election.—According to reports, an elec¬
tion will be held Feb. 24 to allow the voters to determine
whether or not $85,000 10-50-year (optional) bonds at not
Ma¬
exceeding 5% interest shall be issued for the following puroses: $5,000 for fire stations, $20,000 for water-works and
60,000 for paving Lamar Avenue.
Norwood, Hamilton County, Ohio.—Bond Offering.—Pro¬
posals will be received until 12 m. Feb. 11 by L. H. Gebhart,
City Auditor, for the following 4J^% street-improvement
Payette, Canyon County, Idaho.—Bond Sale.—On Jan. 17
$34,000 10-20-year (optional) sewer and refunding bonds,
proposals for which were asked until Jan. 6, were sold to
Coffin & Crawford of Chicago at 100.147 for 5s.
A list of the
Crocker & Fisher of Boston at par.
Denomination $1,000.
turity July 1 1934.
Date July 1 1909.
Interest semi-annual.
'
assessment bonds:
bidders follows:
$45,698 82 Montgomery Ave. bonds.
Date Jan. 31 1910.
Maturity onetenth yearly from 1911 to 1920 Inclusive.
553 50 Morton Ave. bonds.
Date Jan. 31 1910.
Maturity one-fifth
8?
yearly from 1911 to 1915 inclusive.
6,561 96 Ida St. bonds.
Date Jan. 31 1910.
Maturity one-tenth yearly
Coffin & Crawford, Chicago—$34,050 for 5s; $35,360 for 6s.
Geo. H. Tilden & Co., Seattle—Par and accrued Interest, less $425 for fees
from 1911 to 1920 Inclusive.
8,673 00 Edwards Road.
Date Jan. 18 1910.
yearly from 1911 to 1920 Inclusive.
Maturity
one-tenth
7,198 81 Forest Ave. bonds.
Date Jan. 31 1910.
Maturity one-tenth
yearly from 1911 to 1920 Inclusive.
Interest annual.
Certified check for 5% of gross amount of bonds bid
for, payable to the City Treasurer, Is required. The amount of bonds
offered may be reduced by the amount of assessments paid in cash prior
to the date of sale.
Bond Sales.—The seven issues of 4)^% assessment
described in V. 89, p. 1687, were disposed of on Jan.
follows:
bonds
15 as
$942 50 Floral Ave. sidewalk bonds awarded to the First National Bank
of Norwood for $946 49.
for 5s.
Chas. S. Kidder & Co., Chicago—Par and accrued interest less $1,115 for
5s and $34,135 and accrued interest for 6s.
John Nuveen & Co., Chicago—$34,276 for 5H& and $35,576 for 6s.
S. A. Kean & Co., Chicago—$35,054 for 6s.
A. J. Hood & Co., Detroit—$34,525 and accrued interest for 6s.
Denominations $100, $500 and $1,000.
Date Jan. 1 1910.
Interest
June and December.
Pontotoc County (P. O. Ada), Okla.—Purchasers of Bonds.
—Spear & Dow of Fort Smith, Ark., were the purchasers
of the $18,000 5% warrant-funding bonds, the sale of which
was mentioned in V. 90, p. 255.
We are advised that the
bonds were sold during July 1909 and brought $18,390, or
102.166.
Denomination $500.
Date Aug. 1 1909.
Interest semi-annual.
Ma¬
turity Aug. 1 1929.
1,554 93 sanitary-sewer bonds awarded to the F r
National Bank of Nor¬
wood for $1,562 92.
7,220 74 Floral Ave. macadam bonds awarded to Seasongood & Mayer of
Cincinnati for $7,366 25.
4,129 47 Crosley Ave. macadam bonds awarded to the Ohio Savings Bank
& Trust Co. of Cincinnati for $4,205 05.
1,285 93 Foraker Ave. macadam bonds awarded to the First National
Bank of Norwood for $1,293 92.
787 08 Wood St. macadam bonds awarded to the First National Bank
Port Arthur Drainage District (P. O. Port Arthur), Jef¬
ferson County, Tex.—Bonds Defeated.—A proposition to
issue drainage bonds was defeated at a recent election.
The
vote was 164 “for” to 105 “against,” a two-thirds majority
of Norwood for $788 10.
2,474 72 Stewart Park macadam bonds awarded to Seasongood & Mayer
of Cincinnati for $2,512.
The first-mentioned issue matures part yearly on Dec. 21 from 1910 to
1914 inclusive, while the remaining issues mature part yearly in December
from 1910 to 1919 inclusive.
and call another election in the
The $30,000 4% 25-year street, sidewalk and sewer (city's
portion) bonds, also offered on Jan. 15 (V. 89, p. 1687), were
sold to the Western-German Bank of Cincinnati at 101.782—
a basis of about 3.889%.
Bond Election.—An election will be held March 15, accord¬
ing to reports, to vote on the question of issuing $75,000
Main St. re-surfacing bonds.
Bonds Authorized.—It is further stated that an ordinance
has been passed providing for the issuance of $2,500 Main
St. water-main bonds.
Oak Park School District No. 97 (P. O. Oak Park), Cook
County, HI.—Bond Sale.—On Jan. 27 A. B. Leach & Co.
of Chicago were awarded the $60,000 4}^% coupon school
bonds described in V. 90, p. 126, it is stated, at 102.62.
Maturity part yearly on June 1 from 1918 to 1921 inclusive.
Oklahoma City, Oklahoma County, Okla.—Bond Offering.
—Proposals will be received until Jan. 31 by the City Clerk
for
$150,000 water-works, $50,000 incinerator and $10,000
public-building-site bonds.
Authority, vote of 992 “for” to 468 "against" at election held Dec. 6 1909.
Maturity 25 years. Certified check for $6,000 Is required.
Omaha, Neb.—Bid.—In addition to the successful bid of
100.58 and accrued interest submitted by Blodget, Merritt
& Co. of Boston for the $179,000 4J^% coupon street-paving
and curbing bonds sold on Jan. 20 (V. 90, p. 254), a bid of
100.379 was also received from O’Connor & Kahler of
New York City.
Orange County Navigation District (P. O. Orange), Tex.—
Offering.—George W. Bancroft, Secretary of the Dis¬
trict Board, is
offering at private sale the $100,000 5% cou¬
pon 10-40-year (optional) improvement bonds mentioned
in V. 89, p. 1614.
Bond
Authority, vote of 863 “for” to 39 “against” at election held July 27
1909; also a special Act passed by the 1909 Legislature.
Denomination
Date Oct. 10 1909.
$1,000.
Interest semi-annually in Orange or at the
National Park Bank In New York City.
being
The Secretary of the Drainage
change the
boundary of the district, according to the wishes of the voters,
necessary
to carry .
Commissioners writes
us
that “the intention is to
near
future.”
Portchester, Westchester County, N. Y.—Bond Sale.—
An issue of $50,000 5% tax-relief bonds was awarded on
Jan. 17 to Adams & Co. of New York City at 101.917.
Denomination $1,000.
Date Jan. 15 1910.
Interest semi-annual.
Ma¬
turity Jan. 15 1913.
Portland School District (P. O. Portland), Ore.—Bond Elec¬
tion.—It is reported that an election will be held Feb. 2 to
vote upon a
proposition to issue $350,000
new
high-school
bonds.
Quincy, Mass.—Temporary Loan.-—According to dis¬
patches this town has borrowed $65,000 from F. S. Moseley
& Co. of Boston at 3.84% discount and a premium of $3 25.
Maturity Jan. 27 1911.
Racine, Wis.—Bond Offering.—Proposals will be received
until 2 p. m. Feb. 1 by W. C. Clemons, City Treasurer, it is
stated, for the $35,000 4^6% coupon refunding bonds men¬
tioned in V. 90, p. 127.
i
Denomination $1,000.
Date Feb. 1 1910. Interest semi-annually at
the City Treasurer’s office.
Maturity on Feb. 1 as follows: $2,000 yearly
from 1911 to 1925 Inclusive and $1,000 yearly from 1926 to 1930 Inclusive.
Bid must be accompanied by a deposit of $2,000.
Ravenna School District No. 69 (P. O. Ravenna), Buffalo
and Sherman Counties, Neb.—Bonds Voted.—The $27,000
5% school-building bonds mentioned in V. 90, p. 127, were
authorized on Jan. 20 by a vote of 164 to 19.
Maturity
part yearly beginning 1920.
private sale.
The bonds will be offered at
Ridgewood TownshipJSchool District (P. O. Ridgewood),
Bergen County, N. J.—Bond Sale.—TheJ$80,000 4)^%
coupon school bonds offered on Jan. 3 and described m
V. 89, p. 1688, were awarded to Kountze Bros, of New York
City at 100.777. Maturity $2,000 yearly on May 1 from
1915 to 1919 inclusive, $3,000 yearly from 1920 to 1929 in¬
clusive and $4,000 yearlyjfrom 1930 tofl939iinclusive.
Rising SunT Woods County^Ohio.—Bond Sale.—OnJJam24
the $3,000 6% electric-light bonds described iniV. 90, p. 127,
were ^sold to Wilhelm
Myers, it is stated,Jfor $3 218 53
322
THE CHRONICLE
(107.284) and accrued interest. Maturity $600 yearly on
Sept. 1 from 1911 to 1915 inclusive.
Rochester, Beaver County, Pa.—Bonds Not Sold.—No sale
was made on Jan. 17 of the
$20,000 4>£% bonds described
in V. 90, p. 127.
We are informed that the bids received
were not opened.
Rock HOI, York County, So. Caro.—Bond Election.-— An
election will be held Feb. 24 to vote on propositions to issue
the following bonds, mention of which was made in V. 89,
p. 1441: $150,000 for water, $100,000 for sewerage and
$35,000 for a light plant.
LXXXX.
Salem, Mass.—Temporary Loan.—Dispatches report that
$100,000 due Oct. 17 1910 has been negotiated with
C. D. Parker & Co. of Boston at 3.54% discount and a
premium of 15 cents.
a
’
[VOL.
loan of
Salem, Ore.—Bond Sale.—On Jan. 10 $63,050 refunding
$19,000 refunding sewer 5% 1-10-year (optional) bonds
were disposed of to local investors at
par.
Bonds Not Sold.—Up to Jan. 19 no sale had yet been made
of $35,747 18
5% 1-10-year (optional) street bonds also
and
offered
San
Jan. 10.
on
Anselmo, Marin County, Cal.—Bonds to Be Offered
Rome, N. Y.—Bonds Not Yet Issued.—We are advised
under date of Jan. 26 that the $25,000 4% Fish Creek water
bonds mentioned in V. 89, p. 1688, have not yet been issued.
Roseburg, Douglas County, Ore.—Bond Election.—An
election will be held March 5, it is stated, to vote upon a
proposition to issue $40,000 paving bonds.
Sac County (P. O. Sac City), Iowa.—Bond Sale.—An issue
of $25,000 4%% funding bonds was awarded on Nov. 26
1909 to Geo. M. Bechtel & Co. of Davenport at 101.
Shortly.—According to reports, $40,000 street-improvement
turity part yearly from 1912 to 1923 inclusive.
the State Board
Denomination $1,000.
Date Jan. 3 1910.
Interest semi-annual.
Ma¬
Saginaw, Mich.—Bonds Sold During 1909.—Bonds aggre¬
gating $195,500 were sold by the city of Saginaw during the
year 1909.
In order that our records may be complete,
we print below a list of all the issues disposed of.
Amount.
^$10,000
£5,000
£25,000
*3,500
£5,000
10,000
*5,000
£10,000
*10,000
*30,000
Purpose.
Sewer Refunding.
do
do
Street Improv’t
Water
do
do
Date.
.June
Aug.
June
Armory
Sewer
do
do
Street Improv’t
do
do
| Amount.
Purpose.
1i*$10,000 Street Improv’t
2! *10,000
do
do
Date.
Oct. 15
Dec.
1
lj £20,000
Aug.
2
do
do
June 15i ' £5,000
od
June 15;
£5,000
do
Mch. 1;
£5,000
do
July 26 i £10,000
do
July 26
*5,000 Sewer
AUg. 21- £10,000
do
£2,000 Water
Aug. 25;
do
do
do
do
do
Aug. 2
Aug. 25
Oct. 15
1
Dec.
July 26
July 26
Oct. 15
•
x Western Tax District.
Eastern Tax District,
The above issues all bear 4% interest, payable semi-annually.
Denomi¬
nations $1,000 and $500.
Maturity part yearly from 1910 t»1919 Inclusive.
St. Augustine, Fla.—No Action Yet
Taken.—Up to.Jan. 21
question of issuing the $100,000
bonds mentioned in V. 89, p.^1615, had not yet
the election to vote
sewerage
on
the
been called.
S
bonds recently voted will be
month.
San Arroya Irrigation District,
Bond Sale.—It is reported that this
on
the market next
Morgan County, Colo.—
district has sold $235,000
irrigation bonds.
San Mateo Union
High School District, San Mateo County,
Cal.—Bond Sale.—The $100,000 4J^% high-school-building
bonds described in Y. 90, p. 127, were awarded on Jan. 17 to
4.264%.
of
Examiners at
The following bids
were
103, a basis of about
also received:
Hibernia Bank$102,6601J. H. Adams & Co., Los An.$101,934
N. W. Halsey, San Fran
102,333 E. H. Rollins &Co., San Fr. 101,810
Central Nat. Bk., Los Ang_ 102,300 |C. E. Woodside & Co.* Los A.100,327
Maturity $3,000 yearly on Jan. 3 from 1911 to 1930 Inclusive and $2,000
yearly on Jan. 3 from 1931 to 1950 Inclusive.
Seattle, Wash.—Bonds Refused.—Otis & Hough of Cleve¬
us that they have refused to
accept the $65,000
funding bonds recently awarded them.
Silver City School District (P. O. Silver City), Grant
County, N. Mez.—Bonds Voted.—A proposition to issue
$25,000 5% 20-30-year (optional) school-building bonds
carried by a vote of 262 to 12 at an election held Jan. 18.
Date of offering not yet determined.
South Bethlehem, Northampton County, Pa.—Bid.—We
are informed that the Finance Committee is arranging with
local banks for the sale at par of the $36,000 improvement
and $22,500 refunding 4% coupon bonds mentidned in
Y. 89, p. 1689.
land inform
NEW LOANS*
NEW LOANS.
NEW LOANS.
1,000,000
$245,000
$ 100,000
STATE OF MARYLAND
TREASURY DEPARTMENT.
Annapolis, January 3rd, 1910.
The
The undersigned. Governor, Comptroller and
Treasurer of the State of Maryland, In pursuance
«f an Act of the General Assembly of Maryland of
1908,
Chapter 141. will receive proposals for
91,000,000 Series “C” of the said Loan.
“The State Roads Loan” will be dated Febru¬
ary 1. 1910, bear interest from said date at the
rate of Three and One Half Per Centum
per
annum, payable semi-annually on the first day of
August- and February In each and every year,
ana the principal
will be redeemable at the
pleasure or the State after the first day of Febru¬
ary In the year 1920, and the whole debt will be
payable on the first day of February, 1925.
The debt Is exempted from State, county and
municipal taxation and will be Issued In bond
form, with coupons attached.
Said proposals must be delivered, sealed, to
the Treasurer of the State, at Annapolis, ON OR
BEFORE 12 O’CLOCK NOON OF THE FIRST
DAY OF FEBRUARY, 1910, and must have
endorsed on the back of the envelope “Proposals
for the State Roads Loan."
Each bid must be
aocompanied with a certified check on some
responsible banking Institution for 10 per cent
of the amount of such bid, and the same will be
opened In the offloe of the State Treasurer, In
the City of Annapolis, at 12 o’clock noon, Febru¬
ary 1st, 1910, In the presence of the undersigned.
On the opening of such proposals so many of
said coupon bonds as have been bid for, not
exceeding, however, the amount for which pro¬
posals are invited, may be awarded by said Gov¬
ernor, Comptroller of the Treasury and Treasurer,
or a majority of them, to the highest
responsible
bidder or bidders for cash; and when two or more
bidders have made the same bid, which bids are
the highest, and if the amounts so bid for by the
highest responsible bidders are in excess of the
whole amount of the said bonds so offered for
sale, then such bonds may be awarded to such
highest responsible bidders bidding the same price
in the proportion which the amount each has bid
far bears to the whole amount of said bonds so
offered for sale.
These bonds will be Issued In the denomination
•f $1,000 and subject to registration as to prlnclpa
and no bid for less than par will be accepted.
The right Is reserved to reject any and all bids.
AUSTIN L. CROTHERS,
Governor.
J. W. HERING,
Comptroller of the Treasury.
MURRAY VANDIVER,
Treasurer.
CITY OF AMSTERDAM, N.Y.
Mayor and Council of
WILMINGTON, DELAWARE
THE STATE ROADS LOAN.
FOUR PER CENT GOLD BONDS
Sealed bids will be received by the Finance
Committee of the Council off The Mayor and
Council of
Wilmington, Delaware, until 12
o’clock, noon, on FEBRUARY 9, 1910, for the
purchase of $245,000 Gold Bonds of The Mayor
and Council of Wilmington, known as "Wilming¬
ton Water Works Bonds," being part of an
authorized issue of $800,000 and Issued for the
purpose of purchasing real estate and water rights
and
completing the Water Works System of the
City of Wilmington, which said issue was author¬
ized by an Act of the General Assembly of the
State of Delaware, approved March 29, A. D.
1907, being Chapter 179, Vol. 24, Delaware Laws.
The principal and Interest of said bonds are
payable in gold coin at Union National Bank,
Wilmington, Delaware.
Said bonds are of the denomination of $1,000
each, and will bear interest at the rate of four
per centum per annum from February 9, 1910,
payable semi-annually on the first days of May
and November in each year; and mature, without
option of prior redemption, as follows;
$45,000, November 1, 1923.
$60,000, November 1, 1924.
$70,000, November 1, 1925.
$70,000, November 1, 1926.
All bids must be enclosed in sealed envelopes
and be endorsed;
“Bids for the purchase of
Wilmington Water Works Bonds” and delivered
to the undersigned in the office of the Clerk of the
Council, Wilmington, Delaware, on or before
12 o’clock, noon, February 9, 1910.
The right Is reserved to reject any and all
bids.
Each bid must be on form furnished by the
city and must be accompanied by certified check
on a Bank or Trust
Company, for two per cent
of the amount of the par value of the bonds bid
for, which amount will be accepted as part of
the purchase price if the bidder is successful and
the same to be forfeited if the bidder fails to
accept and pay for bonds awarded.
The successful bidder must pay for the bonds
February 21, 1910, at 12 o’clock, noon, ln?the
City Treasurer’s Office, Wilmington, Delaware,
at which time said bonds will be ready for de¬
livery.
JAMES KANE,
RICHARD C. McMULLEN,
SAMUEL H. BENSON JR.
Finance Committee of the Council of
Mayor and Council of Wilmington.
The
WATER BONDS
OFFICE OF THE WATER COMMISSIONERS.
AMSTERDAM, N. Y., January 24th. 1910.
Sealed proposals will be received at this office
until Tuesday, February 8th, 1910, at eight
o’clock p. m., for the purchase of registered water
bonds of the City of Amsterdam, N. Y., to the
amount of $100,000 00, to be Issued pursuant to
Chapter 101 of the Laws of 1881, and Acts amend¬
atory thereof, and pursuant to Section 8, of
Article 2, of Chapter 29, of the Laws of 1909,
entitled “An Act relating to municipal corpora¬
tions, constituting Chapter 24 of the consolidated
laws,” and pursuant to appropriate resolutions of
the Water Commissioners of Amsterdam, N. Y.,
duly adopted. •
The entire issue will be payable twenty years
from date and will bear Interest- at 4 per cent per
payable semi-annually.
principal and interest will be made payable
annum,
The
at the Farmers’ National Bank of Amsterdam,
N. Y., or, at the option of the purchaser, at any
bank or trust company in New York city.
Said bonds will be In denominations of $1,000 00
unless the puichaser or purchasers elect otherwise,
and will be Issued and dated as soon as they can
be prepared after they have been awarded.
No bid at less than par and accrued interest
will be considered.
Bidders may bid upon the whole Issue or upon
any portion thereof in amounts of not less than
$1,000 00.
Each bid must be accompanied by a certified
check for 2 per cent of the face value of the amount
of the bonds bid for, payable to John J. Turner,
Treasurer of the Water Commissioners.
*Blds or proposals should be addressed to “The
Water Commissioners of Amsterdam” at Amster¬
dam,
N.
Bonds.”
Y., and marked “proposals for Water
The right
Is reserved.
BANKERS
MUNICIPAL
•O STATE STREET. BOSTON
AND
30 FINE STREET, NEW YORK
RAILROAD BONDS
STATE, CITT k BAILROAT) BONDS No.
2 WALL
STREET, NEW TORE
arbitrarily to reject
any
and all bids
The proceeds of this Issue of bonds Is to be used
for the purpose of paying and retiring a like
amount of bonds heretofore Issued by the Water
Commissioners of Amsterdam, falling due March 1,
1910.
This issue of bonds will be secured not only by
the credit and property of the City of Amsterdam,
N. Y., but also by a sinking fund to be created
on the issuing thereof for their redemption by
raising annually and setting apart a sum which
will produce an amount equal to the principal
and interest thereon at their maturity.
WILLIAM McCLEARY,
GEORGE W. WEST,
JAMES T. SUGDEN,
Finance Committee of the Water Commissioners
Blodget, Merritt & Co. John H. Watkins
placed
ESTABLISHED 1M
H. C.
Speer & Sons Co.
First Nat. Bank
Bid*., Chicago
CITY, COUNTY
nAMnfi
AND SCHOOL dVJINUD
Jan. 29 1910.
THE CHRONICLE
Springfield, Mass.—Bond Sale.-— Perry, Coffin & Burr of
purchased $378,000 3-^% 3-29-year (serial) coupon or
registered Westfield Little River water bonds on Jan. 25 at
100.3101.
A bid of 100.022 was also received from Blodget,
*
Boston
Merritt & Co. of Boston. Denomination
Jan. 1 1910.
Interest semi-annual.
$1,000.
Date
Stevensville, Ravalli County, Mont.—Bond Offering.—An
issue of $26,000 6% water bonds will be sold at public auc¬
tion at 12 m. on Feb. 21 at the Town Treasurer’s office.
Denomination $1,000.
Date Jan. 1 1010.
Interest semi-annual.
Ma¬
turity 20 years, subject to call after 10 years. Certified check for $1,000,
payable to the Town Treasurer. Is required. J. J. Cameron Is Town Clerk.
Struthers, Mahoning County, Ohio.—Bond Sale.—The
$3,000 5% sewer bonds described in V. 90, p. 128, were sold
on Jan. 12 to the Struthers Savings &
Banking Co. of Struth¬
ers at 108.166.
The following bids were received:
Struthers Savings & Bank
I Security Savings Bank &
Co., Struthers
Trust Co., Toledo
$3,245 00
$3,241 80
Citizens’ Nat. Bk., Wooster 3,243 75 New First Nat. Bk.,Colum. 3,171 00
Seasongood & Mayer, Cin_ 3,243 301Otis & Hough, Cleveland-_ 3,210 00
Maturity $1,000 yearly on Jan. 1 from 1922 to 1924 Inclusive.
T&rboro, Edgecomb County, No. Caro.—Bond Offering.—
Proposals will be received until 7:30 p. m. Feb. 1 by John A.
Widdell, Clerk, for $20,000 5% coupon water, light and
bonds.
Authority, Chapter 312, Private Laws of 1909. Denomination $1,000.
Date July 1 1909.
Interest semi-annually at the Bank of New York,
N.B.A., In New York City.
Maturity July 1 1939.
$200, payable to the town of Tarboro, Is required.
Certified check for
Tom Bean School District, Tex.—Bond Election.—An elec¬
tion will be held Feb. 12, it is stated, to vote on the question
of issuing $5,000 brick-school-house bonds.
Toronto, Jefferson County, Ohio.—Bond Sale.—The $8,000
4% 20-year refunding water-works bonds described in V. 90,
257, were sold on Jan. 25 to the Security Savings Bank &
rust Co. of Toledo for $8,071 (100.887) and accrued inter¬
.
est
Seven bids
.
were
received.
Travis County Common School District No. 41, Tex.—
Bonds Registered.—An issue of $7,000 5% bonds due in 40
registered on Jan. 18 by the State Comptroller.
Trenton, N. J.—Bonds Authorized.—An ordinance pro¬
viding for the issuance of $34,700 coupon or registered sewer-;.
years was
Denomination
Maturity 10
$100
any
multiple thereof.
Interest semi-annual.
Trenton, Gibson County, Tenn.—Purchaser of Bonds.—
We are advised that the Sykes Banking Co. of Nashville was
the purchaser of the two issues of 6% bonds
aggregating
$40,000, recently sold. Denomination $500. Interest an¬
nual.
Union Township School District (P. O.
Lynhurst), Bergen
County, N. J.—Bond Offering.—Proposals will be received
until 8 p. m. Jan. 31 by Henry Danton,
Clerk of Board of
Education, for $37,000 4^£% coupon school-building bonds.
Authority, Section 84, Laws of 1903. Denomination $1,000. Date
Jan. 1 1910.
Interest semi-annually at the Rutherford National Bank in
Rutherford.
Maturity $1,000 yearly on Jan. 1 from 1916 to 1952 inclusive.
Certified check for $250, payable to the Board of
Education, Is required.
Union Township School District (P. O. Mt.
cock County, Ohio.—Bond Sale.—The
Cory), Han¬
$14,000 4% highschool-building bonds mentioned in V. 89, p. 1616, were
sold on Jan. 15 to N. W. Cunningham at
par and accrued in¬
terest.
Denomination $500.
Date Oct.
1
1909.
Interest semi-annual.
turity part each six months from April 1 1911 to Oct. 1 1920 Inclusive.
Vanderburgh County (P. O. Evansville), Ind.—Bond Sale.
Wabasha
County (P. O. Wabasha), Minn.—Bond Sale.—
Arrangements have been made with the State of Minnesota
for the sale of $15,000 4% Ditch No. 1
bonds, proposals for
which
were asked until Jan. 4.
Wallowa County School District No. 6, Ore.—Bond Sale.—
The $30,000 10-20-year (optional)
school-building bonds de¬
scribed in V. 89, p. 1689, were sold as 53^s
on Jan. 3 to Ulen,
Sutherlin & Co. of Chicago at 102.07 and accrued interest.
Wenatchee, Chelan County, Wash.—Bonds Voted— The
election held Jan. 15 resulted in favor of the
proposition to
issue the $50,000 5% improvement and
refunding bonds
mentioned in V. 89, p. 1689.
Maturity May 1 1930. The
vote was 61 “for” to 5 “against.”
NEW LOANS.
S160,000
846,000
8250 OOO
6% BONDS
$100,000 School House Building and
Repair Bonds
50,000 Sewerage Bonds
10,000 Street Improvement and
Repair Bonds
All of said bonds being of the denomination of
$1,000 each, dated December 1st, 1909, maturing
December 1st, 1949, subject to the right of the
City to redeem all or any part of said bonds at
any time after twenty years from the date thereof,
at par and accrued Interest, and bearing Interest
at the rate of 5%
per annum payable semi¬
annually on the 1st day of June and 1st day of
December of each year.
The principal and
Interest are payable In lawful money of the United
States of America, at the office of the City Treas¬
urer,
Beaumont, Texas, or at the Hanover
National Bank, New York City, N. Y., at the
option of the holder.
Each bid must be made on blank form furnished
by the city, and must be accompanied by a duly
certified check on one of the banks of the
City of
Beaumont for Two Per Cent of the par value of
the bonds bid for.
The bid should be In sealed
envelope marked “Bids for City Bonds,” and
addressed to J* G. Sutton, City Secretary, Beau¬
Texas.
The bids to be considered must be filed by him
on or before Tuesday, March
1st. 10 a. m., 1910.
The right Is reserved by the city to
reject any
and all bids.
J. G. SUTTON,
Union Free School Dist. No. I, CITY OF HOBOKEN, N. J.
Town of Hamburg, Erie Co., N. Y.
SCHOOL BONDS
4% BONDS
Notice Is hereby given that the Board of Edu¬
cation of Union Free School District No. 1 of the
Town of Hamburg, County of Erie, New York,
will receive sealed proposals at the office of the
Clerk, A. L. Stratemeler, 8 Bank of Hamburg
Bldg., Hamburg, N. Y., until 7 o’clock p. m. on
the 7th day of February 1910 for the purchase of
30 bonds of said district of the denomination of
Fifteen Hundred ($1,500) Dollars each, numbered
from 1 to 30 inclusive, the first of said bonds to
fall due one year from the date thereof and a bond
each year thereafter until all of said bonds are
paid. Said bohds to bear interest at the rate of
4 per centum per annum, payable annually on
Jan. 1st of each year at the Hanover National
Bank of New York City to the holder thereof in
gold. Said bonds will ndt be sold below par and
will be dated January 1st 1910.
Bidders will be required to deposit with their
bids In cash, by certified check or by bank draft.
2 per centum of the amount of such bonds and
y the balance with accrued Interest when such
nds are delivered.
The Board reserves the
right to reject any and all bids.
Dated January 18th 1910 at Hamburg, N. Y.
SMITH F. COLVIN,
President of the Board of Education of Union
Free School Dist. No. 1 of the Town of
Hamburg, N. Y.
A. L. STRATEMEIER,
Clerk of the Board of Education of Union
Free School Dist. No. 1 of the Town of
Hamburg. N. Y.
-
-
NEW YORK.
BANKERS
Investment Securities
Eurchase
of the
to
City ofIn Hoboken,
knownof bonds
"School
Bonds,"
the amount
e
of
as
Two
Hundred and Fifty Thousand Dollars
($250,000), to run for a period of thirty years
from the date of Issue, registered or coupon, at
the option of the bidder, will be received at th#
regular meeting of the Council to be held on
WEDNESDAY
AFTERNOON.
FEB.
9TH
at 4 o’clock.
Bidders to state prices on bonds
bearing
interest at the rate of four per cent (4%)
per
annum, payable
All proposals
semi-annually.
to be directed to the Mayor
and Council of the City of Hoboken, N. J., and
shall be accompanied by a certified check for
five thousand dollars ($5,000).
The Mayor and Council of the City of Hobo¬
ken reserve the right to reject any or all bids If
deemed In the interest of the City so to do.
By order of the Council.
JAMES H. LONDRIGAN,
City Clerk.
~
—■
—
'■
"■■■’■
FORREST & CO.
BANKERS
FREE OF TAX
HUNT, SAITONSTALL & CO.,
STREET,
Public notice Is hereby given, In accordance
a resolution of the Council of the
City of
Hoboken, passed on the 12th day of January.
1910, and duly approved on the 13th day of
January, 1910, that sealed proposals for the
with
Municipal and Seasoned
Corporation Bonds
City Secretary.
City of Beaumont, Tex%
j&earittfl $t ®n.,
Ma¬
—The $80,000 3^% coupon refunding bonds described in
V. 89, p. 1689, were sold on Jan. 20 to Francis J. Reitz for
$80,132 20 (100.165) and accrued interest. There were no
other bidders.
Maturity Jan. 3 1925.
NEW LOANS.
Sealed bids will be received by the City Council
of the City of Beaumont. Texas, from JANUARY
15TH, 1910. to MARCH 1ST, 1910, at 10 a. m.,
for the purchase of all, or any part of $160,000
bonds, as follows, to-wit:
7 WALL
or
years.
NEW LOANS.
City of Beaumont,Texas
mont,
improvement refunding bonds at not exceeding 4^% in¬
terest was passed by the City Council on Jan. 18.
'
sewer
323
Members Mew York Stack Exchange
Investment Securities
60 STATE STREET
BOSTON
421 CHESTNUT ST..
PHILADELPHIA. PA.
MUNICIPAL AND RAILROAD
BONDS
LIOT ON APPLICATION
SEASONGOOD & MATER,
Mercantile
Library Building
CDromATX
WB OWN AND
OFFER
MUNICIPAL BONDS
Vu Exempt Anywhere In the United Statee
Write tor Particulars
BLACKSTAFF & CO. McCOY & COMPANY
Formerly MaoDonald, MoOoy a Oe.
INVESTMENTS
Municipal and
Corporation Bonds
ULEN, SUTHERLIN & 00.
Ill FMIM. Bank Bldg,CHICAGO, ILL.
LIST OF SPECIALTIES OH REQUEST 181 La Salle Street. - Chicago
1332 Walnut Street
PHILADELPHIA
THE CHRONICLE
324
West, McLennan County, Tex.—Bond Election.—Reports
proposition to issue $6,000 6% 30-year schoolhouse-addition bonds will be submitted to a vote of the peo¬
state that a
ple
on
Feb. 23.
*•
.v
White Plains), N. Y.—Bond
Offering.—Proposals will be received until 2 p. m. Feb. 2
by Geo. T. Burling, County Treasurer, for the following
4
registered bonds:
Westchester County (P. O.
■
$36,522 13 temporary loan bonds. Denomination $5,000, except one bond
of $17522 13.
Maturity Feb. 10 1913.
rtUKI
85,208 66 funding bonds. Denomination $5,000, excep-^one bond of
$5,208 66. Maturity $5,000 yearly* on Feb. 10 from 1920 to
1935 Inclusive and $5,208 66 in 1936.
•
Date Feb. 10 1910.
Interest semi-annually at the County Treasurer’s
office.
Certified check on a national or State bank or trust company for
5% of bonds bid for, payable to the Treasurer, is required. Bonds will be
certified as to genuineness by the U. S. Mortgage & Trust Co. in New York
City. Bids must be made upon blanks furnished by the County Treasurer.
The successful bidder must pay for bonds on Feb. 15.
Wexford County (P. O. Cadillac), Mich.—Bond Election.—
An election will be held April 5 to vote upon a proposition
to issue court-house bonds.
Wichita Falls, Tex.—Bond Election.—We see it reported
that a $40,000 paving bond election will be held Feb. 18.
Wilmington, Del.—Bond Offering.—Proposals will be re¬
m. Feb. 9 by the Finance Committee, James
Kane, Richard C. McMullen and Samuel H. Benson Jr., for
ceived until 12
$245,000 4% gold water-works bonds.
[Yol.
lxxxx
Wilmington SchooU;District|(P .JO.fWilmington), Del.—
Bond Sale.—E. H. Rollins & Sons of Boston bought the
$20,000 4 J^% 10-year coupon school-building and equipment
bonds described in V. 90, p. 258, on Jan. 24 at 101.39 and
accrued interest—a basis of about 4.328%.
Following are
the bids:
E. H. Rollins a Sons, Boston $20,278IF. D. Lackey & Co., Wilm’n_$20,151
W. N. Coler & Co., N. Y
20,250 N. W. Halsey & Co., N. Y... 20,114
N. W. Halsey A Co., N. Y_._ 20,2321Gr. LodgeofDel.,A.O.U.W.a5,080 59
a
''
For $5,000 bonds.
Wilmington School District (P. O. Wilmington), Clinton
County, Ohio.-—Bond Offering.—Proposals will be received
until 12 m. Feb. 1 by H. G. Cartwright, Clerk Board of Edu¬
cation, for $40,000 4% coupon school-building bonds.
Authority vote of 384 to 37 at election held Jan. 6; also Sections 3991
Revised Statutes. Denomination $500.
Date March 1 1910.
Interest semi-annual.
Maturity $500 each six months from March 11911
to Sept. 1 1950 inclusive. Bonded debt, including this issue, $88,000.
As¬
sessed valuation 1909, $1,982,477.
Bonds are tax-exempt.
Deposit of
5% of bonds bid for is required.
and 3992,
Woodbridge Township School District, N. J.—Bond Sale.
—On Jan. 17 $70,000 43^% school bonds were disposed of
to Howard K. Stokes of New York City at 100.833—a basis
of about 4.441%.
Denomination
$1,000.
Date
15
Jan.
1910.
Interest
semi-annual.
Maturity part yearly on Jan. 15 from 1926 to 1940 inclusive.
Worcester, Mass.—Temporary Loan.—A loan of $150,000
$1,000.
due Oct. 14 1910, was recently awarded to F. S. Moseley
& Go. of Boston at 3.49% discount and a premium of $3 87.
made on a form furnished by the city and be accompanied by a certified
check on some bank or trust company for 2% of bonds bid for.
The bonds
will be delivered Feb. 21.
Yazoo-Mississippi Delta Levee District, Miss.—Bond
Offering.—Proposals will be received by A. M. Beattie,
Secretary and Treasurer (P. O. Clarksdale), for $100,000
Denomination
Interest from Feb. 9, payable May 1 and Nov. 1 at the Union
National Bank in Wilmington.
Maturity on Nov. 1 as follows: $45,000 in
1923, $60,000 in 1924, $70,000 in 1925 and $70,000 in 1926.
Bid must be
Authority Chapter 179, Vol. 24, Laws of Delaware, 1907.
The official notice of this bond offering will be
the advertisements elsewhere in this Department.
Bond Sale Not Consummated.—We
are
found
among
advised that the
4% water bonds to N. W, Harris & Co. of
New York City (V. 89, p. 1500) was not consummated.
These bonds were offered at public sale on Nov. 11 1909, but
the city rejected all bids received on that day.
The issue
was then sold at private sale to Harris & Co.
As the law
requires that all bonds shall be sold at public sale, it has been
bonds dated Feb. 1 1910 and due Feb. 1 1911.
Canada, its Provinces and Municipalities.
sale of 8200,000
deemed advisable to re-advertise the issue.
NEW LOANS.
$i
3% BONOS
Parish of St. Bernard, January 1st, 1910.
The Board of Commissioners of the Bayou
Terre-aux-Boeufs Drainage District will receive
bids for the purchase of its bond Issue of One
ana
Hundred
Sixty-Five Thousand
Dollars
($165,000) on or before TUESDAY, FEBRUARY
8TH, 1910, at 12 o’clock noon.
These bonds are in denominations of One
Thousand Dollars ($1,000) each, bear Five Per
Cent
(5%)
interest, Interest payable annually
and made payable Forty (40)
years
after their
date, with the option of redemption In numerical
order after Ten (10) years.
These bonds are issued in conformity with
Article 281 of the Constitution of Louisiana, and
must be sold for not less than par.
Each bid is to be accompanied
•heck for Twenty-Five
by a certified
Hundred Dollars ($2,500).
Interest is payable in Toronto, Montreal and London, Eng.
$6,000 in 1917, $96,000 In 1929 and $50,000 In 1949.
MISCELLANEOUS.
$ 100,000
CANADIAN
CITY OF MINNEAPOLIS
MUNICIPAL BONDS
BONDS
Sealed bids will be received by the
Committee
Ways and Means of the City Council of Minne¬
apolis, Minnesota, at the office of the undersigned,
THURSDAY, FEB. 10, 1910, AT 2 O’CLOCK
P. M., for the whole or any part of One Hundred
Thousand ($100,000 00) Dollars of Grade School
bonds, dated January 1,1910, and payable Jan. 1.
on
1940.
Bonds to bear interest
(4) per cent per annum,
at
the rate of four
payable July 1st and
January 1st.
The right to reject any or all bids is reserved.
A certified check for two (2) per cent of the
par value of bonds bid for, made to C. A. Bloomquist. City Treasurer, must accompany each bid.
Pamphlet containing full particulars will be
mailed upon application.
DAN C. BROWN, City
W. A. MACKENZIE & CO.,
TORONTO, CANADA
LEONARD H. HOLE.
3IRD 8. COLER
W. N. COLER &
CO.,
BANKERS
43 CEDAR ST* NEW YORK.
INVESTMENTS.
Comptroller,
Minneapolis, Minn.
,
payable to the order of the said Board of Com¬
Bank and Trust
missioners; the check of the successful bidder will
be retained and credited on the purchase price
of the bonds; the checks of the unsuccessful bidders
Company Stocks
NEW YORK AND BROOKLYN
will be returned to them.
The Board of Commissioners of the Bayou
Terre-aux-Boeufs Drainage District reserves the
right to reject any and all bids.
For further information, apply to B. F. Estqpinal, Secretary, St. Bernard, La., or to H. L.
Favrot, Attorney, 608 Hennen Bldg., New
Maturity
NEW LOANS.
65,000
Bayou Terre-aux-Boeufs
Drainage District
Edmonton, Alberta.—Debenture Sale.—Brouse, Mitchell &
Co. of Toronto inform us that the $152,000 debentures re¬
cently awarded them carry interest at the rate of 4J^% and
not 4% as reported in V. 90, p. 259.
The debentures are
issued for hospital, fire-hall, market and paving purposes.
BOUQHT AND SOLD
CLINTON GILBERT,
V
PERRY, COFFIN 8 BURR
WALL ST.. NEW YORK.
Orleans
F. WM. KRAFT
Investment Bonds
P. O. BOX ST, MAIN OFFICE
WASHINGTON. D. C.
60 State Street, Boston
LAWYER
OFFICIAL ORGAN OF THE ASSOCIATION OF
AMERICAN GOVERNMENT ACCOUNTANTS.
Specializing in Examination of
Municipal and Corporation Bonds
A MONTHLY
AOOOUNTING AND FINANCIAL OFFICERS
OHIOAGO, ILL.
OF MUNICIPALITIES. BANKS. RAILWAYS
AND OTHER PUBLIC SERVICE
OORPOATXONS.
P. J. G00DHART &
CO., fHE AMERICAN MFG
CO.
Bankers
•V BROADWAY
.
.
NEW YOBS
Telephone SS40 Rector
S36 Walnnt 8t„ Cincinnati
MANILA, SISAL AND JUTI
CORDAGE.
Bank and Trust Ca. Stocks
65 Wall Street,
-
New York
Charles M. Smith 8c Co.
CORPORATION AND
MUNICIPAL BONDS
ran national bank buildon
MAGAZINE OF INTEREST TO
mi FIRST NATIONAL BANK BLDQ«
OHIOAQO
TO BE FOUND IN ALL LEADING CERTIFIED
PUBLIC ACCOUNTANTS’ OFFICES.
Sample Copy 15 cents. Per Annum $1.50
WEBB 8c CO.
INVESTMENT securities
74 BROADWAY
OTTO JULIUS MERKEL
BROKER
44 AND 40 WALL. STREET, NEW YORK
INVESTMENT SECURITIES
Oerreepondenoe Invited.
B. W.
•
-
-
NEW YORK
Strassburgcr
Southern Investment Seouritim.
MONTGOMMM F, 1X1.
Killamey, Man.—Debenture
received until Feb. 14 by
Treasurer, for $3,000 6%
London, Ont.—Debenture
Redvers, Sask.—Debenture Sale.—The $1,000 8% fireprotection and improvement debentures mentioned in V. 89,
p. 1374, were awarded to the Bank of Hamilton at 102.475.
Offering.—Proposals will be
Geo. B. Monteith, Secretary-
debentures.
Maturity part yearly for 10 years.
Interest annual.
Offering.—Proposals will be
1909. Interest annual. Maturity 10 years.
Round Plain School District No. 30, Sask.—Debenture Sale.
—An issue of $1,200 53^% school-building debentures was
awarded on Jan. 8 to H. O’Hara & Co. of Winnipeg for $1,210,'
Date Aug. 10
re¬
Feb. 4 by James S. Bell, City Treasurer,
$79,000 4^j% local-improvement debentures.
ceived until 4p.m.
for
'
the
Interest semi-annual. Maturity part yearly on
30 1909.
1910 to 1919 inclusive. Certified check for 31,000 Is required
the entire amount and checks for 2% of bid with bids for less
than 325,000.
Purchaser to pay, accrued interest.
Date Dec.
Deo. 30 from
with bids for
Interest
13 from 1910 to 1919 inclusive.
annual.
Maturity Jan. 15 1920.
310,1671 Ontario Secur. Co., Toronto.310,007
10,165 (Wood, Gundy di Co., Toronto 9,905
9,900
Noxon & Co., Toronto 10,037|R. C. Matthews & Co., Tor..
C. H. Burgess & Co., Tor
Q. A. Stimson & Co., Tor
Brent,
W. A. MacKenzle & Co., Tor.
AU bidders offered accrued
100.733.
Date Dec. 13 1909.
Interest annual.
Stirling, Ont.—Debenture Sale.—The following bids were
received on Jan. 25 for the $10,000 5% electric-light deben¬
tures offered on that day (V. 90, p. 259):
building-addition debentures disposed of last month to
H. O’Hara & Co. of Toronto (V. 89, p. 1691) was $1,511,
Denomination 3150.
ity part yearly on Dec.
price thus being 100.833.
Date Jan. 15 1910.
Millet School District No. 555, Alberta.—Price Paid for
Debentures.—The price paid for the $1,500 5^% school-
or
325
THE CHRONICLE
Jan. 29 1910.
part yearly on
Matur¬
10,015|
Interest In addition to their bids.
Maturity
Oct. 1 from 1910 to 1929 inclusive.
Strassburg, Sask.—Debenture Offering.—Further details
at hand relative to the offering on Jan. 31 of the $2,800
6% coupon ‘public-park debentures, mentioned in V. 90,
259.
Proposals will be received until 6 p. m. on that day
y E. F. Stedman, Secretary-Treasurer.
are
Peterboro, Ont.—Debenture Sale.—-Reports state that
Brouse, Mitchell & Co. of Toronto recently purchased $28,000
t
4M% 20-year debentures.
Ont.—DebenturelOffering.—Proposals*will|be
received until 5 p. m. Feb. 12 (to be opened 8p.m. Feb. 14)
by J. McTeigue, City Clerk, for the following^debentures:
Port Arthur,
Interest Jan. 1.
Maturity part yearly on Jan. 1 from 1911
Debenture debt, this Issue.
Floating debt, 36,000.
Inclusive.
valuation for 1909, 3276,225.
to 1930
Assessed
Vancouver, B. 0.—Debentures Authorized.—By-laws pro¬
viding for the issuance of the following 4% debentures,
which were favorably voted upon at the election held Jan. 13,
(V. 90, p. 131), were passed by the Council on Jan. 17:
350,000 for fire halls, 385,000 for exhibition grounds and buildings,
330,000 to widen Robson Street, 360,000 to improve public parks, 3230,900
for school purposes, 342,000 for School Board offices ana rooms for ad¬
vanced night classes, 3350,000 to open streets, 3150,000 to macadamize
*33,500 20-year debentures to purchase the plant of the Bell Telephone Co.
Date Aug. 16 1909.
*1,284 30-year electric-street-railway debentures dated Aug. 16 1909.
Date
*18,925 20-year debentures to purchase a site for civic purposes.
Aug. 16 1909.
*8,615 20-year fair-site debentures dated Aug. 16 1909.
*8,764 30-year sewer-construction debentures dated Aug. 16 1909.
02,500 20-year publicity-office debentures dated Oct. 1 1909.
914,000 20-year grading and bridge debentures dated Oct. 1 1909.
93.500 20-year storehouse debentures dated Oct. 1 1909.
93,300 20-year street-widening debentures dated Oct. 1 1909.
930.000 20-year street and bridge debentures dated Oct. 1 1909.
C21.000 telephone debentures dated Aug. 16 1909.
C5.200 street-railway-improvement debentures dated Aug. 18 1909.
c22,000 new-car-barn-debentures dated Oct. 1 1909.
07,500 motor-generator debentures dated Oct. 1 1909.
03,000 street-railway debentures dated Nov. 8 1909.
012,000 debentures to purchase copper wire for transmission sf power,
Dated Feb. 1 1910.
Harbor.
Date
The City Clerk informs us that he does not think that
debentures will be placed on the market for two or
months.
these
three
and 3135,000 to construct a bridge across.Coal
Interest semi-annual.
Feb. 11910.
Maturity 40 years.
streets
Winnipeg School District No. 1 (P. O. Winnipeg),
Man.—
Debenture Sale.—The Dominion Securities Corporation; Ltd.,
of Toronto is reported as being the successful bidder on Jan. 18
for the $200,000 4% school debentures due Aug. 1 1943 and
described in V. 90, p. 131.
« Interest at the rate of 4 H % payable la March and Sept.
9 Interest
semi-annually at the rate of 5%. c Principal and interest payable part
yearly for fifteen years. Interest Is payable at the Bank of Montreal In
Toronto.
MISCELLANEOUS.
ACCOUNTANTS.
The
Arthur Young 5c Co.
CartlflMl Public Accountants
(ILLINOIS)
New Verk, 30 File Street
Milwaukee, 033 Well* Bldg
Cklcngs, 1315 Monadssek Bleek
Kauai City, 1100 Ceaameree Blit.
Company of America
Trust
37-43 WALL
8TREET, NEW YORK.
LONDON OFFICEi
COLONIAL BRANCH!
222
95 Grosham St.
Broadway, Now York.
CAPITAL AND SURPLUS $•,099,009
corporations.
daily balances.
Invites accounts of individuals firms and
Pays interest on
Executes trusts of every
description.
LYBRAND,
ROSS BROS &
MONTGOMERY
Certified Public Accountants
(Pennsylvania)
Land Title Building
PHILADELPHIA.
City Investing Bldg., 105 Breadway
NEW YORK.
Unlon Bank B n i I ding
PITTS BURGH.
First National Bank Bldg.,
CHICAGO
L. F. DOMMERICH & CO.
NEW YORK
General Offices, 67 Creene
SOLICIT ACCOUNTS TO
Street
FINANCE
DISCOUNT AND GUARANTEE SALES
JAMES PARK & CO
CARRY NO GOODS FOR OWN ACCOUNT
OBRTIF1ED PUBLIC AOCOUNTANTS
Cincinnati and
London, England.
New York,Chicago,
AUDITORS
FOR
FINANCIAL IN STITU
TION8, INDUSTRIAL AND
MINING COMPANIES
InvssUgsttsna. Financial Statement!,
Periodical Audita and A
ALFRED ROSE & CO.,
OZBTiriZD PUBLIC AOCOUBTABT*
M Pin. Str.it, NEW YORK
CERTIFIED PUBLIC ACCOUNTANTS
30 Broad Street, New Yerk
•
TeL 4988 Broad.
Corporation Trust Co.
15
Exchange Place, Jersey City, N. J.
limited to corporate affairs
Transfer Agent and Registrar
Transacts a trust business
Acts
Telephone 4S61 John.
LOOMIS, CON ANT & CO.
e
as
DIRECTORS:
HOWARD K. WOOD. President.
WM.
H.ICHESEBROUQH. Vice-President. ,
K. K. McLAREN, Treasurer.
OAKLEIOH THORNE.
HENRY P. SHOEMAKER.
H. B. HOLLINS.
JOHN W. QRIOQS.
326
THE CHRONICLE
[VOL.
IPttatixial.
Qvnst Companies.
OFFICE OF THE
ATLANTIC MUTUAL INSURANCE COMPANY.
<
New York.
<
34.477,103 95
—
from 1st January, 1909, to 31st December,
Interest received during: the year
Rent less Taxes and Expenses
1909......—........33,791,557
■■■
■
-
...
Losses paid during: the year which
Salvages
Re-Insurances
3249,891 07
235,520 48
__
newspapers, advertisements, etc
3356,913 94
ASSETS.
LIABILITIES.
curities
35,461,042 00
Special deposits in Banks ATrustCos. 1,000,000 00
Real Estate cor. Wall A William Sts.,
8b Exchange Place-34,299,426 04
Other Real Estate A
claims due the com¬
pany
75,000 00 4,374,426 04
Premium notes and Bills Receivable
Cash In the hands of European
Bankers to pay losses under poli¬
cies payable In foreign countries.
Cash In Bank
Aggregating
1,213,069 68
Estimated Losses and Losses Un¬
settled
32,393,297 00
Premiums on Unterminated Risks..
685.546 99
Certificates of Profits and Interest
Unpaid
263,468 95
120,569 42
Return Premiums Unpaid
Certificates of Profits Ordered Re¬
deemed, Withheld for Unpaid
Premiums
Certificates of Profits Outstand¬
PHILIP STOCKTON. President.
George E. Keith,
Gardiner M. Lane
William Amory.
Arthur Lyman.
John S. Bartlett,
Maxwell Norman,
Charles E. Cotting
Robert T. Paine 2d.
Alvah Crocker.
Andrew W Preston.
George A. Draper.
Richard S. Russell
W liam F. Draper
Quincy A. Shaw
Wllmot R. Evans.
Howard Stockton.
Frederick P. Fish,
Charles A. Stone.
Edwin Farnham, Greene Galen L. Stone.
Robert F. Herrick
Nathaniel Thayer,
Francis L Hlgglnson,
Henry C. Jackson
Trust
7,404.890 00
370,000 00
633,405 13
Transacts
Aggregating
311,260,125 76
Q. STANTON
TRUSTEES.
CLEMENT A. GRISCOM,
ANSON W. HARD.
LEWIS CASS LED YARD.
CHARLES D. LEVERICH,
LEANDER N. LOVELL,
GEORGE H. MACY,
CHARLES H. MARSHALL,
NICHOLAS F. PALMER.
HENRY PARISH.
ADOLF PAVENSTEDT.
CHARLES M. PRATT,
DALLAS B. PRATT.
GEORGE W. QUINTARD.
A. A.
RAVEN,
JOHN J. RIKER,
DOUGLAS ROBINSON.
GUSTAV H. SCHWAB.
WILLIAM SLOANE.
ISAAC STERN,
WILLIAM A. STREET.
GEORGE E. TURNURE.
CERTIFIED PUBLIC ACCOUNTANTS
CHICAGO
PHILADELPHIA
Marquette Bid®.
MutuahUfe Bid®.
LONDON, ENGLAND
Laadanhall Bldg*.
Acts
u
on
Ave.,
Checking Accounts with Interest
Trustee, Guardian, Executor, Administration
Foreign Exchange, Letters of Credit
Safe
to Check.
Railroad
and
othes
Capital - - - ■
Surplus (Earned)
$1,000 000
2,000.000
DIRECTORS.
CHARLES E. ROGERSON. President.
George R. White
Henry S. Shaw
Costello C. Converse
Gerard C. Tobey
Edward W. Hutchins
Nathaniel J. Rust
James R. Dunbar
Frank G. Webster
Elwyn G. Preston
Arthur F. Estabrook
Richard M. Sal tons tall
William B. Rice
Jerome Jones
George B. Wilbur
Nehemiab W. Rice
Charles F. Fairbanks
Nathaniel F. Ayer
Wallace L. Pierce
Richard O. Humphreys
James Longley
John W. Farwell
C. Minot Weld
George W. Wheelwright
William H. Wellington
Industrial Trust Company
Providence, R. I.
33.000,000
-
3,000,000
-
OFFICERS.
Cyrus P. Brown. President.
Arthur L. Kelley, Vloe-President.
H. Martin Brown, Vice-President.
Otis Everett. Vice-President.
Joshua M. Addeman, Vloe-President.
•
Waldo M. Place. Treasurer
Ward E. Smith. Asst. Treasurer.
Chas. H. Manchester, Secretary.
H. Howard Pepper, Asst. Secy.
Frederick B. Wilcox, Auditor
BOARD OF DIRECTORS.
Samuel P- Colt
Elbridge T. Gerry
Olney T. Inman
Chas. C. Harrington
William R. Dupee
Louis H. Comstock
Warren O. Arnold
Herbert N. Fenner
Richard A. Robertson
J. Milton Payne
Joshua M. Addeman
Eben N. Littlefield
James M. Scott
Otis Everett
William H. Perry
C. Presoott Knight
Arthur L. Kelley
Jesse H. Metcalf
H. Martin Brown
John J. Watson Jr.
Levi P. Morton
Charles H. Allen
George F. Baker
John B. Branch
Henry A. C. Taylor
WUMam P. Chapin
Angus McLeod
503-506-607 Chestnut St.. Philadelphia.
31,000.000
ADAM A.
STULL, President
HENRY a BRENGLE, 1st Vlce-Pree. A Treasurer.
JOS. S, CLARK, 2d Vtoe-Pres., 3uperv*g Trust
Dept
CHAS. p. LINEAWEAVER, See. A Trust Officer
LAWRENCE L. GILLESPIE, Vice-Prei
618 Filth
Deposits, Subject
CAPITA!
CAPITAL, $3,000,000
SURPLUS and UNDIVIDED PROFITS,
$11,000,000
EREGH, President
and
The Trust Company
of North America
THE EQUITABLE TRUST CO.
OF NEW YORK
15 Nassau Street
General Trust
Trustee under
as
George M. Thornton
Cyrus P. Brown
ALVIN W.
Company
Mortgages,and is authorized to act as Executor,
Guardian, Administrator and Trustee
SURPLUS
Wilkinson, Reckitt, Williams & Co.
a
Interest Allowed
CAPITAL
Broadway
Deposit
Banking Business.
FLOYD-JONES. Secretary.
A. A. RAVEN, President.
t
CORNELIUS ELDERT, Vice-President.
&
SANFORD E. COBB, 2d Vice-President.
CHARLES E. FAY. 3d Vice-President.
JOHN H. JONES STEWART. 4th
Vice-President.
M
Sidney W. Winslow.
BOSTON, MASS.
239,948 04
By order of the Board.
NEW YORK
Henry O. Underwood.
Boston Safe
22,353 49
ing.
A dividend of Interest of Six per cent on the
outstanding certificates of profits will be paid toths
holders thereof, or their legal representatives, on and after
the first of February next.
The outstanding certificates of the issue of 1904 will be Tuesday
redeemed and paid to the holders thereof,
or their legal representatives, on and after
Tuesday the first 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, 1909. which are entitled to participate in dividend, for
which, upon appli¬
cation, certificates will be Issued on and after Tuesday the third of
May next.
CORNELIUS ELDERT,
RICHARD H. EWART.
PHILIP A. S. FRANKLIN,
HERBERT L. GRIGGS.
legal Depositary for Court Funds, and author¬
AND
Real Estate Reserve Fund
312.921,890 89
FRANCIS M. BACON,
WALDRON P. BROWN.
VERNON H. BROWN.
JOHN N. BEACH.
JOHN CLAFLIN.
GEORGE C. CLARK.
CLEVELAND H. DODGE.
as Trustee under Railroad
and other Mort¬
gages! also as Agent for the Registering
and Transfer of Stock.
DIRECTORS.
360,285 14
and clerks' compensation, stationery,
United States & State of New York
Stock, City, Bank and other Se¬
Acts
Chariot F. Adams 2d
F. Lothrop Ames
31,493,426 20
Expenses, Including officers' salaries
$4,000,000
ized to act as Executor, Guardian. Ad¬
ministrator and Trustee.
485,411 55
Returns of Premiums
MASS.
Transacts a General Trust and
Banking Business
Interest Allowed on Deposits Subjsct to Chock*
00
were estimated In 1908
and previous years
3829,378 19
Losses occurred, estimated and paid In 1909
1,149,459 56 31.978,837 75
Less
Capital & Surplus,
ass
-
CO.
STREET BOSTON. MASS
BUNKER HILL BRANCH:
0Ur Square. CHARLESTOWN
3467,726 28
—
TRUST
STATE
80
A
3322,046 46
145,679 82
1
eaAums marked off
CITY
January 21st, 1910.
The Trustees, in conformity with the Charter of the
Company, submit the following statement of its affair*
on the 31M of December, 1909.
Premiums on Marine Risks from 1st January. 1909. to 31st December, 1909
33,759,391 23
Premiums on Policies not marked off 1st January, 19C9
717,712 70
otal Marine PrCmlmm
LXXXX
near 50th St.
of Estates
DIRECTORS.
J. Levering Jones,
James Croaby Brownj Malcolm Lloyd,
J ohn Cadwalader1
John Mcllhenny,
E. W Clark Jr..
Richard Wain Melrs,
Eckley B. Coxe Jr„
Clement B. Newboidv
Edwin S. Dixon,
John W Pepper,
Henry O. Brengle,
Eugene L. Eilion;
Joseph 0. Fraley
Harry C, Francis,
Henry L. Qaw, Jrw
Howard 8. Graham;
Deposit Vaults
i-
Hamne* F
Houet ru
W liam F. Read. "
Frank Samuel,
Adam A. Stull,
Edward D. Toland,
Joseph R. Walntrright
WlUtatr D- Wt
Jan. 29
THE CHRONICLE
1910.J
Qvn&t <&ompvcnizs.
OLD COLONY
TRUST CO.
BOSTON
Capital and
MASS.
grust <£>0tapx,uU&.
let states Host Mm of lew Tut
Chartered 1858
45 and 4T Wall Stmt.
CAPITAL,
7,5u0 00
Surplus,
XXIX
Authorised Reserve Agent for Trust
Companies of Maine. Rhode Island and
Massachusetts.
BOARD OF DIRECTORS
T. Jefferson Ooolidge Jr.. Chairman.
Gordon Abbott
Robert F Herrick.
Oliver Ames.
Henry S. Howe.
0. W. Amory.
Wa'ter HunneweU;
Charles F. Ayer.
Thomas L. Livermore;
Samuel Carr.
Charles S. Mellen,
B. P Cheney.
Laurence Minot;
T. Jefferson Cooildge.
Richard Olney.
Charles B. Cottlng.
Robert T. Paine 2d,
82,000.000.00
813,720,622.42
SURPLU8 AND UNDIVIDED PROFITS,
This Compaay aets as Executor. Administrator, Guardian, Trustee, Court
Depositary and la
•Gw reeecnlaed trust aiidtfw.
It allows Interest at current rates on deposits.
It holds, manages and Invests money, securities and other property, real
or personal, for estates;
rporattoas aad Individuals.
EDWARD W. SHELDON, President.
WILLIAM M. KINGSLEY, V.-Pres.
HENRY E. AHERN, Secretary.
WILFRED J. WORCESTER, Asst. See. CHARLES A.
EDWARDS, 2d Asst.See.
TRUSTEES.
JOHN A. STEWART. Chairman of the Board.
Gustav H. Schwab,
John J. Phelps,
Prank Lyman,
Lewis Cass Led yard,
W. Bayard Putting.
William Rockefeller,
Alexander B. Orr,
William H. Masy Jr..
William D. Sloane.
George P. Victor,
Lyman J. Gage,
Payne Whitney,
James Stillman,
John Claflln.
Edward W. Sheldon
Chauncey Keep,
George L. Rives,
Arthur C. James.
William M. Kingsley.
Philip V. DeNormandle. Philip L Sal toratal );
Herbert Id Sean,
Philip Dexter.
Frederic C. Dumalne.
Nathaniel Thayer.
Frederick P. Fish.
Lucius Tuttle
Reginald Foster
George P. Gardner.
Stephen li. Weld.
Charles W
Whittier.
UNITED STATES
MORTGAGE & TRUST
COMPANY
NEW YORK
CAPITAL,
$2,000,000.00
~
SURPLUS,
$4,000,000.00
Invites Personal and Business
Accounts. Acts as Trustee, Ex¬
ecutor, Administrator, Guard¬
ian
and
in
All
Fiduciary
Capacities.
Certifies Muni¬
cipal and Corporation Bonds.
CENTRAL TRUST COMPANY
of NEW YORK
35
Cedar St.
73rd St & B’way
t sjth
Wall Street
54
St. & 8th Ave.
Capital and Surplus, $18,000,000
(of which $ 1 7,000,000 has been earned)
©otlmx.
■
**
*"**,***,*»**1
*****rtvirwvwrriViri¥OiYi*ivvv>iwvvuu
Authorized
M. Weld & Co..
Stephen
COTTON
MERCHANTS,
88-92 Beaver
Street,
-
to act
as
Executor, Trustee, Administrator
Receives Deposits, subject to check, and allows Interest
Acts
as
New York City
Transfer Agent,
or
Guardian.
Daily Balances.
Registrar and Trustee under Mortgages.
on
BOSTON. PHILADELPHIA, PROVIDENOB
Liverpool, Weld a Co.
Bremen, Albrecht, Weld a Co
Geo. H. McFadden & Bro.
COTTON
BANKERS TRUST COMPANY
7 WALL
MERCHANTS,
PHILADELPHIA.
NEW YORK.
Liverpool Correspondents :
FREDERIC ZBREGA A OC
Bremen Correspondents:
MCFADDEN BROTHERS A OC
Havre Correspondents :
SOGDETB D’lMPOBTATION BT DB COMMISSIOl
STREET, MEW YORK.
Capital, $3,000,000
Surplus, $4,500,000
DIRECTORS
STEPHEN BAKER,
EDOAR L. MARSTON.
Pm. Bank of the Manhattan Oo„ N. Y.
SAMUEL Q. BAYNE.
.
„
_
Blair * Co.. Bankers, N. Y.
GEORGE W. PERKINS.
J.P. Morgan *Oo., Bankers,N. Y.
WILLIAM H. PORTER.
Pro*. Chemical National Bank. N. Y.
DANIEL 0. REID.
Vloe-Pres. Liberty NattonaLBank, N. Y.
w
Pres. Seaboard National Bank, N. Y.
WIN M BULKLEY.
Ipenoer Trask A Co., Bankers, N. Y.
Mason Smith &
Pree. Fourth
Co.,
COTTON COMMISSION MERCHANTS
NEW ORLEANS, LA.
MEMPHIS, TENN.
DALLAS, TEX,
Buyer* of Spot Cotton. Order* for Contract* Bzi
onted in the New Orleans, New
York,
Liverpool and Havre Market*.
R. H. ROUNTREE & CO.,
Commission Merchants.
Cotton, Grain, Provisions and Coffee.
COTTON EXCHANGE BUILDING,
NEW YORK.
,
J^jjfejMl. CANNON,National Bank, N. Y.
EDMUND C. CONVERSE.
President. New York.
HENRY P. DAVISON.
J. P. Morgan A Co., Bankers; N. Y.
WALTERB.FREW,
w
w
Vloe-Pres. Corn Exchange Bank.
N. w
Y.
REDBRICK T. HASKELL.
v.-Pres. UllaolrSkust A Bav. Bank. Ohloago.
BENJ.
Vice-President. N. Y.
EDWARD P. SWINNBY
STRONG Jr..
Pres, rim National Bai
Bank. Kansas City.
JOHN P. THOMPSON.
New York. ~
,
N. T.
THOMAS W. LAMONT.
Tice-President First National Bank; N. Y.
BATES W. M’GARRAH,
President Mechanics’ National Bank. N. Y.
EDWARD TOWNSEND.
Prea. Importers* A Traders’National Bank. N.Y
Bsnk.N. Y.
Particular attention is called to the
company's directorate.
personnel, character and strength of this
Interest is allowed upon deposits,
K. C. CONVERSE, Prea.
J. P. THOMPSON, V.-P.
B. STRONG Jr., V.-P
9. E. POMEROY. Y. P.
F. I, KENT. ▼.-**.
F. N. B. CLOSE, Secy
H. W. DONOVAN. Treaa.
H. F. WILSON Jr.. Aaat. Soc*y.
b
THE CHRONICLE
XXX
©triton.
fPttawjcial.
&
STILLMAN, Fversz & Company
COTTON MERCHANTS
BANKERS;
22 WILLIAM STREET.
NEW YORK.
AMBBICAK COTTON OF *r.I. 0HADES SUITABLE TO WANTS OF SPINNERS.
Negotiate and Issue Loans for Rail¬
roads and Established Corporations.
Buy and sell Bonds suitable for
Investment.
Ear A BUSHED IN 186tt.
Henry
Hentz & Co.,
COMMISSION MERCHANTS.
206 LA SALLE ST, CHICAGO
E.H. ROLLINS &SON8
Established 1876
RAILROAD
MUNICIPAL
PUBLIC UTILITY
BONDS
Fiscal Agent for Oities and Corporations
List
11 to 22 William Street, New York.
Bmwrt* Order# for Future Delivery
43
COTTON
York. Liverpool and New Orleans
Ootton Exchangee- Also orders for
COFFEE
At the New York Coffee Exchange
GRAIN AND PROVISIONS
at the Chicago Board of Trade and
GRAIN AND COTTON-SEED OIL
At the New York Produce Exchange
At the Now
CHICAGO CITY MORTGAGES.
HIGH-GRADE INDUSTRIE BONDS.
CHICAGO REAL ESTATE BONDS.
Hubbard Bros. & Co., CORPORATION J RAILROAD BONDS.
COFFEE EXCHANGE BUILDING.
SEND FOR
LXXXX
gtnanxtal.
WOODWARD
16 to
[VOL.
on
Application
Exchange Place
NEW YORK
BOSTON
DENVER
CHICAGO
SAN FRANCISCO
CIRCULARS.
HANOVER SQUARE.
NEW YORK.
MERCHANTS.
COTTON
Liberal Advance* Made
Consignments.
ea
PEABODY. H0U6HTELING & CO.
181 La Salle Street*
Cetten
CHICAGO.
F. H. PRINCE &
t Rota blibhxt) 1888.1
TT
1-*
IV* rt.Li. o,
X lOpKlliSj JL/Wlgnt
BANKERS
r*-,
ot \>Oej
COTTON.
BOSTON. MASS.
QEO. H. BURR ft CO.
and
COTTON-SEED OIL,
Rssn 88, Cetten Exchange Bnildftng,
NEW YOBK.
43
Liuwiw, hctmi a Oo. Ussited. NSW Orleans, La
BROS.,
HI vh'Grade
BANKERS
COMMI88ION MERCHANTS.
LEHMAN
Commercial
Exchange Place.
Paper
Members #/ the Stock, Ootton, Cofee
and Produce Exchanges, New Jerk.
Memben of How York and Boston Stook Bxhhaagot
New York
•
Boston
St Louis
Philadelphia
Kansu City
San Francisco
Ordera executed on the above Exchanges. as well In
New Orleans, Chicago and foreign markets.
Siegfr. Gruner & Co.,
MERCHANTS
Sullivan Brothers & Co.
Municipal and Corporation
RON FIS
„
First National
Bank Bldg.
Chicago
“UWDO
sit Broadway
Now York
50
Congress 8t.
Boston
17 Honth William Stropt.
NEW
BONDS
42T
Members
YORK.
MUNICIPAL & COR¬
PORATION BONDS
SUCCESSORS TO
COPELAND & CO„
COTTON BROKERS,
43 Cetton Exchange,
New York.
Orders for future delivery contracts executed ou
the New York and Liverpool Cotton Exchanges.
CHICAGO
MERCHANTS,
-
New York.
ROBERT MOORE St CO.,
36 Beaver street. New Yerk.
ORDERS FOB FUTURE DELIVERY EXECU¬
TED IN NEW YORK AND LIVKUPOOL EX¬
CHANGES.
COTTON PURCHASED FOIL SPINNERS USE
SMITH
Frank B.
Fstaolisheu
looa
W. T. HATCH & SONS'
71 Broadway.
•
BROKERS,
New York.
MEMBERS OF
NEW YORK STOCK EXCHANGE.
GWATHMEY St CO.,
-
1
\Ncw
York St®ck Exchange
I
‘
BANKERS AND
183 LA SALLE STREET,
STREET
Philadelphia
Chas. S. Kidder & Co.
GEO.
22 Exchange Place,
CHESTNUT
PHILADELPHIA, PA.
WILLIAM RAY ft CO.
COTTON
Investments.
Chicago
Nee. 16-22 William Street. New York.
COTTON
CO.,
Devitt. Tremble & co.
BONDS FOR INVESTMENT
FIRST NATIONAL BANK BLDQ,
CHICAGO
PHILA. NATIONAL BANK BLDQ.,
PHILADELPHIA
ft HAYNE.
CLEMENT
SMITH
&
Successors to HAVEN ft
1 Nassau
Street,
CLEMENT,
corner
Wail Street.
Members of the New York Stock Exchange.
Bonds, Stocks, Cotton, Crain.
Hajne (in Commend am )
Cotton Brokers,
COTTON
EXCHANGE
BUILDING,
DominicK Si DominicK
NEW ORLEANS, LA.
ORDERS FOR FUTURE DELIVERY EXECUTED
IN NEW ORLEANS. NEW YORK AND
LIVERPOOL MARKET8
(Other cotton cards
on
| H. T. HOLTZ & CO.
KfetXjl ilkDealeraSinMl WUJ'l
preceding page.)
IMUNICIPAL, RAILROAD AND
'.CORPORATION BONDS]
INVESTMENTS
Edward Lowber Stokes
Correspondence Invited]
r
v>
104 Sooth ruth St.
PHILADELPHIA
T711LA
SALLE STREET, CHICAGO
115 BROADWAY
Member New York Stock
Exchange
United Bank Note Corporation Stocks
DICK
BROTHER8 St
CO..
BANKERS* AND BROKER*,
30 Bread 8|n
•
•
New Yerk.
Member* of N. Y. end Phil*. Stock Bzftupa
New York. New Orleans and
Exchanges, New York Coffee Bxehaag
and OUoag* Board of Tiado
LtrerpooloSum*
@FedFRASER