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financial

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[uotation Supplement (m%) Street RailwaySupplement (^ nully
o
t
Ana )
Investors Supplement (Qatry Stale and City Supplement (jon-M
urel )
y)
(Entered according to Act of Congress, in the year 1903, b y W il l ia m B. D ana C o m p a n t , in the office o f Librarian of Congress, Washington, D. U

VOL. 76.

SATURDAY, JANUARY 31, 1903.

Ibje (Klxrouide*

Week ending January 24
Cleariiuis at—

PUBLISHED WEEKLY.

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LONDON AGENTS:
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scriptions and advertisements, and supply single copies of the paper at Is.
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W I L L I A M B . D A N A C O M P A N Y , P u b lish e r s ,
Pine Street, Corner oi Pearl Street,
Post Office Box !»3S.
NEW Y O R K .

CLEARING MOUSE RETURNS.
The following table, made up by telegraph, etc., indicates
that the total bank clearings of all the clearing houses of the
United States for the week ending to-day, Jan. 31, have
been $2,053,939,362, against $2,252,961,208 last week and
$2,130,204,817 the corresponding week last year.
Clearings—Returns by 'lelegraph.
_____ Week Ending Jan. SI.______

1903.

1902.

$1,037,108,801
98,230,313
90,382,507
17.264,877
132,845.477
38,122,733
11,300,000

B o s to n ....................... .
P rovid ence.................
H a rtford .....................
New H aven.................
Springfield..................
W orcester...................
Portland.......................
Fall River....... ..........
L ow ell............. ...
New Bedford..............
H oly ok e.............. .......
Total New England
Chicago........................
Cincinnati....................
D e tro it........................
C leveland....... ..........
Milwaukee ...............
Columbus.....................
Indianapolis................
P eoria..........................
T o le d o ..........................
Grand R apids.............
D a y ton ........................
E van sville..................
Y oungstow n........ ...
Sprlugfleld, III............
L e x in g to n ..................
Akron...........................
R ock ford .....................
Springfield, O..............
Canton..........................
Jackson ville...............
Quincy ........................
B loom in gton .............
Jackson........................
M ansfield....................
Decatur........................
Total Mid. Western
San F ran cisco...........

P. Cent.

Seattle.........................

$1 145.165.727
112.764.947
77,491,148
15,874,927
124,422,698
41,264.182
8.947,000

—9-4
—12 9
+166
+8-8
+0-S
—76
+203

Sioux Falls..................
Total Pacific............

$1,425,254,708
287,419.843

$1,525,930,623
240,948.038

—00
+19-3

Ail cities, 1 day.....................

$1,712,674,551
341,264,811

$1,766,879,261
863,325,556

—31
-6 -1

Total all cities for w eek.,

$2,053,939,302

$2,130,204,817

—3 6

Sew York.............................................
Boston.
Philadelphia.......................... .
Baltim ore.............................. .
Chicago.....................................
EL L o u is ............................... .

New Orleans....................... .
Seven cities, 5 days.........
Other cities, 5 days...............
.

Total all cities, 5 days_
_

Kansas Citv................
.Minneapolis...............
Omaha..........................
D en v er........ ...............
St. Joseph....................
Des Moines..................
D a ven port..................
Sioux C ity...................
T op ek a ........................
W ichita........................
Fremont .....................
Colorado Springs____
Total other W est’rn

The full details for the week covered by the above will be
ven next Saturday. W e cannot furnish them to-day, cleargs being made up by the clearing houses at noon on Satur­
day, and hence in the above the last day of the week has to St. Louis. ....................
New Orleans..............
be in all cases estimated, as we go to press Friday night.
Louisville...................
W e present below our usual detailed figures for the previous G alveston ...................
week, covering the returns for the period ending with Satur­ Houston .....................
day noon, Jan. 24, and the results for the corresponding Savannah.....................
Richmond....................
week in 1902, 1901 and 1900 are also given. Contrasted with M em phis.....................
Atlanta........................
the week of 1902 the total for the whole country shows a gain Nashville........ ..........
of 1-8 per cent. Outside of New York the increase over 1902 N orfolk........................
A u gusta......................
is 9*9 per cent.
K n ox v ille...................

g

Week ending January 24.

Clearings at—
Bew York ...
Philadelphia
Pittsburg. ...
Baltimore...
Buffalo........
Washington.
Albany.........
Rochester...
Syracuse . .. .

Scranton_
_

Wilmington.

Binghamton
Chester.......

Greensburg..
W heeling....
Wilkes Barre
Utica.......
.Total Middle

1903.

1902.

Inc-, or
Dec.

NO. 1962.

1901.

1900.

$
$
%
?
*
1.376,582,208 1,415,094.276
-2-7 1.424.272,223 972.111.858
-8-0
123,863,507 114,723.197 95,148.808
98.049,647
46,572.640
44,768,334 - -40
39.868.311
82,110,200
20,992,775
21,386,532
18.527.420
-1-8
20,949.241
6,604.993
5,042.657 +17-0
5,324.510
4.953.045
8,985.855
8,069,286 +29-5
2,202,622
2,468.781
8,209,345
8,128,888 - -2-6
2 607,758
2.475,037
2,212.908 - -T9
1,899.457
1.661.821
2,254,170
1,219.425
1.237.023
1,130,154
-1-5
1.047,097
. 1.706,905
1,583,602 +7-8
1291..276
1.238,400
1,028,358
922,591 +11*5
906,452
973.621
881,600
357.000 +6-9
405.300
454,500
S99.S81
324.308
238
341,688
257,698
486.075
422,584 + 1 5 0
807,416
800,000
663,662
646.537 +2-6
836.202
807,979 —3 7
2.597.512 Not include d in to tal.
1.590.787.790 1.616.SS8.S02
-1-6 1.596.649.882 1.136,725.059

Fort W orth..................
Birm ingham ...............
Macon...........................
Little R ock.................
Chattanooga.. ..........
Jacksonville...............
Beaum ont...................
Total Southern.......
Total a ll...................
Outside New York..
Ca n a d a —
M ontreal.....................
T o r o n to .......................
W innipeg.....................
Ham ilton.....................
St. John........................
V ictoria .......................
Vancouver...................

1903.

1902

me. or
Dec.

1901.

1900.

$
147.885.344
8.423.600
2, <556.543
1.787,464
1.564,467
1,446,322
1,383,891
1.030,166
510.200
434,764
395.153
107,517.914

$
129,515,266
7,078,300
2,567,430
1,528,886
1.410 977
1,512.585
1.345,270
981.072
607,342
511.634
431.341
147.490,109

%
-f-142
- -19-0
+.L5
- -23,-5
- -10-9
—44
+ 29
+5-0
-16-0
-150
—5"3
+136

$
126.783.429
6,089.200
2,162.883
1,974,235
1,199.056
1.242,710
1,065,464
816.687
5U1.5S5
451.661
307.849
142.684,709

$
119.074,873
5,985,800
2,363,120
1.672,786
1,301.708
1.175,791
1,000,120
821.590
474,884
400,062
290,787
134,561.019

176,616,146
24.924,500
10.844.143
16.594,022
8.018 756
4,413,700
6,345,331
2,831.637
3.121.908
1,816,482
1,709,390
1.251.849
662,536
841,032
611.919
865,100
612,268
470,103
433,224
413,006
206.950
287.S93
330.595
185,000
79,071
197,208
288,621
265,003,490

159,997,559
19,046,800
16,592.071
11,883,899
0,Tf>2.198
3,760.250
4,717,593
2,961.593
2.469.412
1,703.532
1,437,731
706.184
530,920
571,885
491,943
555 400
487.178
370,469
345.842
368.264
128.960
266,282
332,725
158.011
62,580
198,395
309,580
237,837.256

+10-4
+269
-34-8
-39-6
-18-7
-17-4
-345
—4-4
+26-4
+41-6
-189
-77'3
-2P9
-47-1
-24-4
-55'8
-25'7
-269
-25-3
-12-1
-60-5
+8-1
-0 -6
hl7T
1-26 4
—O'G
—0*8
+114

130 231,508
19,798,550
9,908.336
11.330.226
6,479,454
3,100,300
3,670,783
2,206.067
1,627,580
1,410,555
1,188,530
783,420
827,327
498,333
519,553
490,400
426,858
287,362
833.588
270.910
127.688
308,243
222,532
139.655
58,000
60,000

120.729,188
15,013,100
8,146.028
10,164,610
6,288,611
2,478,100
2,925,108
1,747.938
2,016.605
1.246.084
1.140,146
905,851
322.046
393,564
437,640
369,300
297,095
292,750
267,165
216.553
1*9.522
280,000

190,011,258

175,857.010

27,385,315
2,673,155
3.347,453
5,211.972
3,589,355
1.717,020
2.064,068
568.291
488,743
227,987
47,273,950

20,768.771 +31-9
3,125,796 -14 5
2,207.723 -51'6
4,179,090 -24V
2.728,585 -31-6
1,386,564 -23-9
1,127,118 -831
543,320 +4*6
490,782 —0*4
247.587 —7-9
36.805 342 +28A

18,473,439
2,695,544
1,714,745
2.946,818
1,948,875
941.814
1,117,034
758.990
333,662
204,503
31,135,424

15.347,631
1.971.307
1,651.130
2.143,616
1,834,329
972.526
910.396
695.180
275.019
198.266
25,898,800

21,201,053
12,408,803
7,300.093
5,935.076
4,400,000
4.495,524
2.095,536
775,667
1,464,080
1,294,634
693,810
194,148
584,770
62,843,194

20,194,320
13,577,441
7,175.581
4.893,808
4.814,932
4.901.174
1.006,855
1,487,826
1,475,700
1.395,712
795.801
188.856
1,000.000
63,508,006

+5*0
—8*6
+1*7
+21 3
—8*6
—8*3
+30-4
—479
—0*8
—7*2
-12*8
+2*8
-41-5
—10

15,854,822
10,190,023
6,286.409
4.S&5.C8S
4,012,933
3,642,065
1,328,689
718,677
954,226
1,149.097
509.943
118.840
1,260,540
50,406,952

12.523.777
8,468.714
5.510.S08
4.210.377
4,312,905
2,827.271
1.296.958
573,619
1,005.842
046,626
492,484
135,000

49.774,135
49.103.846
15,897,564
18,064,179
9,675,158
11,393.425
4,149,000
5,082,500
6.000,000
7.893,281
3.771,218
4,104.644
8,803,697
8,428.470
8.447,455
4,136,069
2,776,750
3,336,428
2.40S.284
1,671,737
1,399,600
1,630,464
1,713.937
1,702,226
1,083,904
715,241
1.627,708
1,577,368
1,264,558
1,218,186
771,000
774,000
952,305
1.132.5S7
518.457
670,000
S70.000
874.523
425.000
365.499
118,534,801 110.669,522
2.252,961,208 2.212,698.537
876,379,000 797.684,261

42,004 081

—1-3
29,356,416
37,784,835
13.140,510
12,910,158
- -13*6
9.126,238
9.742.352
-17*8
4.231,500
3,337.000
-22*5
4,079,030
4.468,727
- -31*6
5,586.076
4,842.577
+8*8
3.439.439
-9*9
4.4S3.926
8,326.607
2,569.272
-20*0
2,849.034
1.911.960
1-20*2
1,246.611
-44*1
1.467,577
1.409.964
1.362.557
-16*5
1.429,350
1,215,531
—O’ ?
621.4S3
610,984
+51-5
1,020.242
1,732,772
—3*1
045.279
925,000
—3*7
659.700
724,000
+0*4
460.552
554,193
- -1S*9
858.732
406,138
- -29*2
275.S53
276,079
-1*2
+16-3
............
82,092,474
93.588,087
+8*0
+1-8 2,110,476,512 1.597.188,443
+9*9 686,204,089 625.070.585

15.266.S59
K14-S
19.289.08-1
16,805,442 H
10,110.244
13,541,885 H
14.938.525
1,882.598
2,986.447 4.249,729
1,565.156
1,710,498 +5*2
1,800.017
683.297
816,583 - -14*3
033.924
641.216
703.344 - -40*4
987,812
679.320
537,992 -5*4
509.088
693.207
S40.G5D +21-0
1.017.672
1.192.112 +9"2
1 802 79‘J
..............
1.802.728 + 2 5 6
2,204]l 9?
744.210 Not include d in to tal.
31.521.897
47.292.S47 1 40.887.6901 + 15*7

Ottawa..........................
L on don ........................
Total Canada... —
C o n d i t i o n N a t i o n a l H u n k s N o v e m b e r vl-3tli. 1 ! I 0 J , oil p a p e 2J5>.

50,000

.

13,448,918
8.430,153
1,952.033
1,241.928
730,260
549 595
575,721
015,195

27.543.793

230

THB CHKONICLE.

[VOL. LXXVI.

absolute conviction of the actual danger that besets ^
some of our most vital interests. Our shivering to-day L
The quarterly number of our I nvestors’ Supple from lack of fuel is a part of it. Legislators have been [
(
ment is issued to-day, and is sent to all our subscribers. so subservient as to entrench the mine-workers In
The Supplement contains editorial articles on the their position so securely that the coal-consuming h
following topics:
public is entirely helpless and beyond relief except L
GOOD ROAD3 AND RAILROADS.
through mild weather, the gift of the Almighty. .
SPECIALTIES AND SPECIAL TRAINING.
Congress, of course, has no time or Inclination to L
PRESSED STEEL CARS.
look after or to seek a remedy for this situation ; the L
STEAM CARS IN MINOR RAILROAD SERVICE.
tentacles of the squid occupy the whole field oil,
THE ELECTRIC HEADLIGHT.
vision.
What, however, incites new vigilance on the parir
THE FINANCIAL SITUATION.
of the public has been the convention held at Indian­
When the current session of Congress shall have apolis this week and the threats of future action t(
closed its brief existence, the distinctive character by stop coal-mining if the bidding of the mine worken
which it must be known in history will no doubt be is not conformed to. Prominent among the require
as the maker of contrivances in the form of bills for ments announced Is the demand of the scale commit i
extirpating “ trusts,” which means corporate com­ tee of the bituminous workers for a 20-per-cent in
binations of capital. This occupation has been steadily crease In wages. The present contracts expire oi
kept up, and with great’diligencc, ever since Congress April 1, and the expectation is that, if the bituminou
met, just as if delay would result in public ruin. coal operators find they cannot afford to sign thi|
Such devotion to a special subject and such abject scale, no bituminous coal will be mined in the com
fear of delay is a little surprising when one remem­ petitive districts soon after that date, and for hoi:
bers that even Senator Hoar has told us, in unmistaka* long a time no one knows. Or even should the work*
ble language, that these trusts have done no harm as ers lower their proposition and offer a less advance:
yet, but have been the source of immense gain to the Is the public in the humor to have the companies ac
country. Still, in face of that opinion expressed by cept the requirement and raise the price of coal t
Mr. Hoar, and by almost every one who has spoken or meet the advance ? Or would it prefer to have th
written at any length on the subject, this volley of demand refused.'and have a strike as the result, whic'
bills to forestall an evil not yet developed shows won­ would in turn keep up the abnormal price anothe
derful zeal and productivity. Another queer fact is year ? A shortened supply of bituminous coal o
the eagerness of the pursuit, so eager that for success higher prioes for it would have a tendency to increas
in the endeavor the United States Constitution will in large measure the demand for anthracite, espec
have to be stretched, a difficulty that cannot be ially in face of the situation now existing of no stock
bridged except by an artful, cabalistic handling of anywhere in the hands of the people or of th 1
words; and furthermore, the risky venture is urged, public.
notwithstanding after the new meaning has been
But there is another matter the bituminous min
read into our fundamental law the changes made workers took up at the Indianapolis convention thj
In industrial affairs will be so material that to meas­ week, which effort, if successful, would not only fui
ther intrench the coal mine workers but also brln
ure the consequences is beyond human wisdom.
In the meantime these legislators, intent on their all our industries in subserviency to the labor clas
pursuit, have been oblivious to the fact that a change We refer to the instruction given at the conventic
is coming over the spirit of the people; they have to its special committee to go to Washington aE
certainly fallen out of sympathy with this crusade. work for the passage of the “ Anti-In junction bill
The Governor of Hew Jersey has become the expo­ now pending in the Senate, and to take the record <
nent of the now favorite industrial creed and the every Senator on that measure. We need not discu
policy of New Jersey is the platform the business the subject thus involved. If Congressmen contini
public is subscribing to. While it is not allowable in in their present state of mind of hostility towari
that State for a corporation to fatten at the expense capital, there is danger that the right which evei
and the discomfort of the people, the Commonwealth one would suppose was inherent and could not 1
protects with absolute equity the rights of property taken away by statute— the right to enjoin every hoc
and is not afraid to avow its purpose In that particu­ of men from injuring or destroying, or doing anythii
lar. Congress, on the other hand, unmindful of the that might aid In injuring or destroying, tli
change In sentiment going on, continues to act much property or business which has been acquin.
and industry— will be lost
>
as if it saw in every corporation the rudiments of a lay frugality
squid with interminable tentacles. Scared at the far as Congress has the power. The week’s dvision its own heated imagination has given shape to» velopments show, too, that the presumption i
the unwisdom of its aims and proposals can be a this move Is one that labor is about to undertake i
matter of no wonder.
a comprehensive way. President Gompers and t.\
Besides this, there is another and more real evil— executive council of the American Federation !
<
much like a twin sister of this trust crusade, because Labor has issued a circular which “ recommends to s
coddled by the same class that has been so active in organized workers in national, State, central or loci
the endeavour to get around the constitutional safe unions that at their public celebrations on May ,
guards— an evil which is assuming dangerous authority July 4 and September 1 .they concentrate th<r
and more and more occupying public attention. It is attention on a discussion of the abolition of Injurthus taking the precedence of the trust frenzy. The tions in labor disputes and the enactment of las
President’s Coal Commission has over and over again conforming to that purpose.” Of course no injurdisclosed this situation through the evidence it is draw­ tion could issue to-day to stop a labor dispute. Thfc
ing out, until surgaise and jmspicion have settled into is not what is meant. The thing wanted by t»

THE INVESTORS’ SUPPLEMENT.

January

3 , 1 0 .]
1 93

THE CHRONICLE.

231

The feature of the statement of the New York
federation is to stop any interference with labor,
whatever may be the injury it does to individual and Associated B*nks on Saturday a week ago was the in­
crease of $9,122,900 in reserve held, which made the
roperty rights, during a “ labor dispute.”
total gain in cash since December 27 1902 $31,580,Statements of railroad net earnings possess unusual 400. Thedncrease in loans was only $4,394,000*
nterest at the present time, and are being closely Loans are now $890,448,100, and compare with
sratched on account of the enhanced operating cost. $869,942,600 in 1902 and $841,367,300 in 1901. De­
The returns now being received are for the month of posits are $912,812,100, comparing with $949,666,800
December. The January results will furnish a better in 1902 and $937,423,000 in 1901. The increase In
;uidetothe existing situation, since in the case of deposits was $11,700,200, and the reserve required
[uite a good many companies the advances recently was therefore increased by $2,925,050. Deducting
nade in wages did not go into effect until the opening this amount from the gain in cash, there remained
> the new year. The statements for December which $6,197,850 as the addition to the surplus reserve.
f
iave come in this week show that augmented ex­ The surplus is now $26,414,975, which compares with
penses have continued a very prominent feature in $25,332,400 in 1902, $30,799,450 in 1901 and $29,277,he case of many leading companies in different parts 975 In 1900. The surplus, not counting reserve
> the country. The Union Pacific added $261,841 to against U. S. depcsitB, is $36,458,250.
f
ts gross receipts, but shows a Iobs of $47,651 in net,
The most important event in the money market
>wing to an increase of $309,492 in the expenses. The
tVabash added $102,003 to its gross earnings but only this week was the announcement by the Pennsyl­
had negoti­
& to its net. Canadian Pacific, with $461,413 gain vania Railroad Company that it
223
in gross, reports only $103,761 gain in net. The Chesa­ ated a loan of $35,000,000 for six months at 4£ per
peake & Ohio Railway saved $67,264 of its increase of cent, with the privilege of renewal upon the same
1191,938 in gross for the net. The Southern Rail­ terms for another six months. The security given was
way, while gaining $366,642 in gross, carried only the stocks of subsidiary and controlled railroads. The
M7,220 forward as improvement in net. The figures money is to be devoted to increasing the facilities for
pf the Atchison Topeka & Santa Fe Railway System for transportation. The congestion of traffic is so great
;he same month show a betterment of $210,914 in at many points, especially at Pittsburg, that prompt
gross with only $21,497 addition to the net. The Chi action is necessary, and the management deemed it
jago Milwaukee & St. Paul Railway sustained a small prudent not to wait for the stockholders to authorize
i'iecrease in both gross and net— $87,451 decrease in the issue of additional stock and bonds at the annual
'gross and $43,201 decrease in net. The Chicago & meeting on March 10. It is understood, however,
Alton has $87,686 gain in gross, but an augmenta­ that the loan Is to be paid at maturity out of the pro­
tion of $111,849 in expenses turned this into a loss of ceeds of such issues. This loan was negotiated by
the company without an intermediary. The rate of
'$24,163 in the net.
It is gratifying to note that the anthracite coal interest is £ per cent below that paid by the Like
Jroads, after a long period of diminishing earnings Shore Railroad Company for its loan made to pay for
las a result of the coal strike, are now recovering a its allotment of Reading stock. Datads were with­
part of their previous loss, most of them making ex­ held, but it was generally believed that a considerable
ceptionally favorable exhibits. The Reading Com­ part of the Pennsylvania's loan was placed in Europe,
pany for December reports net earnings (all com- and the course of the foreign exchange market indi­
jjpanies, including coal operations as well as railroad cated a large increase in the supply of bills from some
^operations), of $1,697,677 in 1902, as against $1,194,- source other than exports of merchandise.
?988 in the same month of 1901. Even after this gain^
The Pennsylvania loan dominated the money mar­
however, the company is still 2 f million dollars be-*
Jhind in net for the fiscal year to date. The Lehigh ket this week. In the previous week 4 f per cent was
'Valley figures have been previously published. In that the lowest rate for time money, but the large increase
'caBe there was an improvement of $878,483 in net as in surplus reserve reported by the banks in the state­
fcompared with the figures for the same month the ment of January 24 gave the market an easier tone.
'previous year. The Central of New Jersey has a really It was said by some of the leading bankers that sev­
fBurprising statement. With $419,961 gain in gross eral other large loans were under consideration, and
(there was a decrease of $192,655 in expenses (the that dealings in money this winter would be some­
'expenses the previous year in that month having been what in a “ wholesale way,” in order to provide for
exceptionally heavy), thus leading to a gain in net of constructive enterprises similar to those in contem­
!$612,506. For the six months to December 31 this plation by the Pennsylvania Rillroad Company.
‘ company, after the gain just noted, still shows a loss
The reports of the condition of the trust companies
of $1,131,750. The New York Ontario & Western
! added $136,871 to its gross and $97,531 to its net in of Greater New York on December 31 1902 show large
'December. For the half-year to December 31 net decreases since June 30 1902 in loans on collateral and
earnings in this instance record a decrease of $322,- deposits. The President of one of the most import­
681. The Erie added no less than $762,701 to its ant trust companies accounts for these changes by
■
gross earnings during December, with an addition in the conversion of deposits into capital and surplus of
expenses of only $144,381, leaving a gain for this one backs and trust companies; by payment for securities
month in the large sum of $618,320. This company upon which loans were based, which securities have
' is able to show an increase, too, for the half-year, the been withdrawn from the market; by loans made out
' net for the six months to December 31 1902 having of deposits for the acoount of large depositors, and
) been $430,292 better than for the corresponding six by the conversion of liquid into fixed capital through
building operations, railway construction and other­
1months of 1901.
wise.

232

THE CHRONICLE

Money on call, representing bankers’ balances,
loaned on the Stock Exchange this week at 4 per
cent and at
per cent, averaging 3£ per cent. On
Monday the rates were 3 to 4 per cent, averaging
3 f per cent. On Tuesday, Wednesday and Thurs­
day the rates were 3£ to 4 per cent, averaging 3 f per
cent. On Friday the rates were 2\ to 3| per cent,
averaging 3£ per cent. Banks and trust companies
loaned at 4 per cent as the minlmm. Time money
was easier for sixty days early in the week at
per
cent, but there was little demand for short-time loans.
Some loans at 4£ per cent on exceptional callateral
for four to six months were made in the first half of
the week, but ordinary loans on good mixed collat­
eral were generally held at 4| @ 5 per cent up to the
close o f business on Wednesday. Very little was dore
at these rates. Borrowers insisted that, upon equal
collateral, they were entitled to the same rate as the
Pennsylvania Railroad Company. On Thursday time
money was freely offered at 4£ per cent for sixty days
and 4£ to 4£ per cent for three to six months on good
mixed collateral. A concession of \ per cent was made
on commercial paper, and there was a fair icquiry
for choice names, both from local and out-of-town
institutions. There is very little good paper on the
market. Rates are 4 f @ 5 per cent for sixty to ninety
day endorsements, 4 f @ 5 per cent for prime four to
six months’ single names and 5 @ 5^ per cent for
names not so well known.
There was no change this week in the official rates
of discount by any of the European banks. Discounts
in the open market at London were a shade harder.
They were steady at Paris and easier at Berlin.
The rate of exchange at Berlin on London advanced
to 20 marks, 50 pfennigs, which is very close to the
gold-export point, and indicates the transfer of funds
to London to take advantage of the higher rate of
interest there. This week’s return of the Bank of
England shows that the ratio of reserve to liaoilities
is 47'38 per cent, against 46*05 per cent last week
and 49 04 per cent in the corresponding week of last
year. The cable reports discounts of sixty to ninety
day bank bills at London
per cent. The open
market rate at Paris is 2 f to 2| per cent, and at
Berlin and Frankfort it is 2£ to 2£ per cent. A c
cording to our special cable from London, the Bank
of England gained £871,012 bullion during the week
and held £34,382,758 at the close of the week. Our
correspondent further advises us that the gain was
due to receipts of £909,000 net from the interior of
Great Britain, to imports of £22,000 from Australia,
and to exports of £50,000 to Argentina and £10,000
to the Gape.

[V ol. LXXVI.

operations would be canceled by April 1 by means of
the exports of merchandise in excess of imports, and
that in 1903 we shall import more gold than we export. The Assay Office paid for domestic bullion,
$560,543 70. Gold received at the Custom House dur­
ing the week $13,791, of which $638 was in U. S.
gold coin and $13,153 in bullion.
Nominal quotations for sterling exchange were
4 84£ for long bills and 4 87^@4 88 for sight. The
market on Monday was a shade easier at 4 8390®
4 8410 for sixty-day bills, 4 8690@4 87 for sight,
and 4 8730@4 8740 for cables.
On Tuesday long
bills were 5 to 10 points lower, sight bills declined 5
points and cables were 5 points lower. The market
waB weak on Wednesday at a decline of 5 points in sixtyday and sight bills and 10 points in cables. On
Thursday the market was very weak the greater part
of the day, closing steady at the decline, with a
slight improvement in the tone. On Friday there
was a better tone and a recovery to Tuesday’ s rates.
The following shows daily posted rates for exchange
by some of the leading drawers.
D AILY POSTED HATES FOB FOBBIGN EXCHAN GE.
FBI.,

MON..

T O IA ,

W e d .,

T h u b .,

FBI.,

4 84*
4 87*
84*
88
84*
87*
84*
87*
84*
87*
84*
87*
84*
87*
84*
88

84*
87*
84*
88
84*
87*
84*
87*
84*
87*
84*
87*
84*
87*
84*
88

84*
87*
84*
88
84*
87*
84*
87*
84*
87*
84*
87*
84*
87*
84*
88

84*
87*
84*
88
84*
87*
84*
87*

84*
87*
84*
87*

84*
87*

§32
84*

§82
84*

Jan. 28. Jan. 26. Jan. 27 Jan 18. Jan. 29 Jan. 80.
Brown B r o s.......
Baring,
(6 0 days
M agoun A C o .. ( S ig h t..
Bank B ritish
(6 0 days
No. A m e r ica .. ( Sig h t..
Bank o f
j 60 days
M on trea l.........( S ig h t..
Canadian Bank <60 days
o f C om m erce.. ( S ig h t..
H eldelbach, Ick- j 60 days
elh elm er A C o .! 81ght..

1

L aiard r re r e o
u u a r u F reres .. ^ 00 d a y ®
glght
M erchants’ Bk. (6 0 days
o f C anada.......1 S ig h t..

4
4
4
4
4
4
4
4
4
4
4
4
4
4

1
|

1

§82

87*

§82
84*
87*
84*
87*
84*
88

87*
84*
87*
84*
88

8 7*
8 4*
87*
8 4*
87*

§82
84*
1
1

§7*
84*
88

The close Friday was at 4 8380@4 8390 for long,
4 8680@4 8690 for short and 4 8715@4 8725 for
cables. Commercial on banks 4 8 3 f® 4 83| and
documents for payment 4 82&@4 83f. Cotton for
payment 4 82£@4 83£, cotton for acceptance 4 83f
@ 4 83^ and grain for payment 4 83f@ 4 83£.
The following table indicates the amount of bullion
n the princinal European banks.
Jan. 89, 1903.

Jan. 30. 1902.

Bank oi
Gold.

Silver.

Total.

Gold.

Silver.

Total.

£

£

S

£
86.010,777
98,3(6,923
86.8 9,000
70,918,000
47,071,000
14.038,000
15 883.000
6,738,8 ‘to
3,133,838

£

£

•nffland . . . . . 84,388 708
'vanoe............ 100 566.167 48.868.962
e rm a n y ....... 36,585.030 13,681, OX
76,883 000 6 873 000
(.ustia..........
t u s.-H u n g ’ ) * 46 329,000 12.685,000
(p a in .............. 14,409,000 19,887,000
t a ly ............... 18,988000 2,630,000
4,698 8 > 6.685,600
0
fatherlands.
•at B elg’m .t 8.288 667 1,011,838

34,382 768
144.420 189
50,116,000
88,100,000
68.904,000
34,806,000
10 618.030
11.833,800
S4.634, '00

80,016,777
43.963X40 142,312,9*3
) 3.614,000 50,428,009
6,518,000 77,486,000
11,630,000 58.610,000
17 537,000 81,609,010
8X08,6 « 17,976.600
18,098,600
6,366,80
4.700.000
1.666,067

oL tb ls wee* 333.437,892 107118796 440,654,687 8 28,636,833 103795007 431,781,940

rot. prev. w ’k 328 184,080 106755095 *33.889,775 385,628,609 108747253 488.276.181
* The division (between gold and sUver) given In our table of coin
end bullion In the Bank of Germany and the Bank of Belgium Is m ade
from the best estimate we are able to obtain; in neither ease Is il
claimed to be aoourate, as those banks make no distinction In their
weekly returns, merely reporting the total gold and silver, but ws
relieve the division we make Is a dose approximation.

The foreign exchange market had an easier tone this
week. Offerings of commercial bills were light and a
large part of them was delivered upon contract, but
there was a plentiful supply of bankers’ bills. It was t T h e A u stro-H u n ga ria n Bank S ta tem en t is n ow Issued In K ron en and Hegenerally believed that many of these represented a oer in stead o f G uld en and K reutzer. T h e red u ction o f th e form er ourrency to
sterling £ was by con sid erin g th e G ulden to ha ve th e v alue o f 50 cents. A»
good portion of the Pennsylvania Railroad Company’ s the K rone has really n o g rea ter v alue than 20 cents, ou r cable correspondent In
In
K
to £, has
loan placed in Europe, but confirmation was lacking. L ondon, th eord er totred u ce n eronen24 in steadaltered th e basis o f conversion by
tlvldlng
am ou n o f K ro n b y
o f 20
Sterling was especially weak. Francs declined about
Tue following gives the week's movements ol monej
1-32 of 1 per cent. Marks were 1-16 of 1 per cent -o and from the interior by the New York banks.
lower, on account of the advance in Berlin of exchange
Set Interior
3 m l n 4 ov Skirted bt
Week JBndins Jan. 30,1908.
upon London. Of course, under the circumstances,
Movement.
N. 7 Bank*. y . 7 . Bank*.
there was no thought of gold exports, and a high )*rr«n oy
18,799.000
11,404,000 Gain 07,805.00'
678.00'
660,000 G ain.
1,147,000
authority on exchange expressed the opinion that our 1016............................................................
$2,003,000 G am . 07,888.0*
00.940,000
T otal gold and legal ten d ers.......
floating indebtedness to Europe through exchange

January 31, 1903.]

THE CHRONICLE

233

With the Sub-Treasury operations the result is a» large part, by the wealthy gold-mining interests of
the colony.
follows.
The £30,000,000 loan will not, therefore, cut any
Nst Okants ♦«
O u ts/
in ts
figure yet awhile in the international markets. But
W*tk Bndint Jan. 30.1908
Bank Hoi44nst
Banks.
Banks.
the floating of the £40,000,000 guaranteed loan in
52.C83.000 Gain. *7,888 000
|9 940,100
Bank* Interior m ovem ent, a* above
27,860.000 Loss 2.700 0O(
94 050 000
London will provide an interesting test of the real
Bab-Treaa. operation s.........................
It will be re­
T ota l sold and legal tenders....... 5S4.C90.OOO $29,418,000 Gain. $6,185,000 state of the British investment market.
called that the British Government's £30,000,000 loan of
1901 was largely placed in advance with American
bankers, for the sake of relieving the London mar­
FINANCIAL ENGLAND AND TRANSVAAL
ket, and that financial London acquiesced in that ar­
RECONSTR UCTION.
rangement, the feeling apparently being that, al­
The novel and very interesting move of the British though the loan could undoubtedly all be taken by
Minister for the Colonies in leaving England and going English capital, it would weigh so heavily on an
personally to the Transvaal to get the country's finances already greatly burdened market that a sacrifice price
and its gold-mining industry out of their tangle, has might be inevitable, with possible displacement of
already accomplished some result. It is pretty safe capital in other home investments. A year later the
to say that few Cabinet Ministers other than Mr. £32,000,000 loan of 1902 was partly taken here and part­
Chamberlain would have taken so unusual a step, ly in France, bnt against some English protest that
and it is also safe to say that it was Mr. Chamberlain, home investors were able to handle the whole of
as distinguished from other English statesmen, who it. Now comes the 'first loan Binoe the return of
Its negotiation, which will not of course
was most qualified to accomplish his purposes by ex­ peace.
actly such a procedure. The Colonial Secretary has occur for some time yet, will show how far British
from the start held the position of the hard-headed capital has regained equilibrium on the British
business man in British politics, and it was a clever market.
It is likely that this problem is puzzling the minds
bargainer and business negotiator who was needed to
unravel the Transvaal situation. It was not alone of English financiers even now. On the one hand,
unreconciled private taxpayers who had to be dealt accumulation of surplus wealth has certainly made
with, but the great mining corporations had to be rapid advance in England since the peace; on the
brought to some sort of terms that would neither other, the low price of outstanding consols and the
crush their industry nor throw all the burden on cautious floating of new securities at London do not
point to a thorough recovery as yet in the Eaglish mar­
individuals.
The question of reconstructing the finances of the ket's absorbing power. Yet it should not be overlooked
Transvaal would have no special interest for Ameri that such reluctance of home capital is often more ap­
cans but for two facts, each of which arises from the parent than real. It arises, frequently enough, from
peculiar nature of the recent struggle. It involves in a caution which, at first the fruit of necessity, pres­
the first place the possibility of a further heavy drain ently becomes a habit. Our own public loans of seven
on English capital, and hence on the capital of or eight years ago are a case in point. When the
markets connected with that of London. It raise8 cause of the suspicion and hesitation among American
again, in the second place, the question of what can investors had been ended, recovery of confidence
be done to place the Witwatersrand mining industry was amazingly rapid, and it very soon became evident
in the position where it was at the outbreak of the that it was not actual lack of home oapital which
war.
This question, naturally, involves the gen­ had troubled the Government's borrowing negotia­
eral problem of international gold movements, in tions.
which our market has some stake.
It is these
It is not yet apparent how the plan of Transvaal
two elements of the situation which invite discussion settlement is to afiect the gold production. The slow
ness of recovery in that direction has been one of the
here.
The process of reconstruction in the Transvaal, ac­ surprises of the period—like the fall in price of mine
cording to the plan announced by Mr. Chamberlain sharts after the peace, a fall which in faot was largely
in South Africa, 1 to depend on a £30,000,000 loan caused by the delayed production. Monthly gold
b
raised by the Transvaal wholly upon its own credit output of the Transvaal is now nearly three times
and on a further £40,000,000 loan with the British what it was a year ago, but it is less than one half the
Government's guaranty. It appears to be under­ output reached on the eve of the war embargo. Set­
stood that the unguaranteed loan will command 4 per tlement of the labor question at the mines is,
cent interest, will not be offered until next year, and however, one of the special problems which has
will then come on the market only in three equal in­ engaged Mr. Chamberlain in his expedition, and the
stalments, to be issued annually. It will be under­ matter is not so far out of the way of settlement as
written, according to agreement, by the financial in might be supposed. England imported from South
terests back of the Transvaal mining industry, but Africa in 1900 only £378,626 gold. Ic received £1,these Interests, it is stated, guarantee nothing except 962,283 in 1901 and £7,946,698 in 1902. Considering
the floating of the loan. For punctual interest pay the handicap under which the mines are working, in
ments the investor will look to the Transvaal Gov­ their shortage of labor, and considering also the faot
that the maximum gold import from that quarter was
ernment itself.
Into the question of the Transvaal colony's ability to £16,768,997 in 1898, the showing is not so bad. D e ­
meet annual charges on the loans we need not enter. cember's monthly output in the Transvaal was, more­
ThlB question, it may be presumed, was sufficiently over, nearly four times as great as that of December
canvassed before the announcement of the scheme. 1901— 189,537 fine ounces, against 52,897—aud there
Dispatches from South Africa have intimated that has been no Interruption to the increase in monthly
the unguaranteed loan will be taken, in whole or in record of production during 1902.

THE CHRONICLE.

234
THE

M A G N ITU D E OF OUR
PRODUCTION.

IR O N

The American Iron & Steel Association has made
public the statistics of the country's pig iron produc
tion for the late calendar year as compiled by Mr.
James M. Swank, its General Manager. The re­
sults are as expected—that is, they show that the
make of iron in the United States was of unprece­
dented and extraordinary proportions. The total fell
but little short of 18 million gross tons, the exact
figure being 17,821,307 tons. There was an increase,
roughly, of two million tons as compared with the
calendar year 1901, whioh latter in turn had shown
an increase of somewhat over two million tons com
pared with the calendar year 1900. In other words,
in 1902 the United States produced four million tons
more iron than two years before.
The fact be
comes additionally significant when It is recalled that
the 1900 make of iron (13,789,242 tons) had been the
largest ever reached up to that time.
Considering the many retarding circumstances
which prevailed during the year, operating to restrict
the production, it must certainly be considered note­
worthy that it should have been found possible to
turn out so much iron. Mr. Swank deems it remark­
able that there should have been such a large increase
when there were such serious adverse conditions to
contend with, chiefly inadequate transportation facil
ities, resulting in a short supply of coke and iron ore
and the banking for longer or shorter periods of many
furnaces. The anthracite coal strike also seriously
Interfered with the activity of many Eastern fur­
naces.
As bearing on the magnitude of the 1902 total, a
statement made by Mr. Swank In his present re­
port, and which embodies a comparison made by our­
selves on some former occasions, is highly suggestive.
The reader may recall that in the calendar year 1901
the United States produced more pig iron than Great
Britain and Germany— the two other great iron pro­
ducing countries of the world—combined. With the
further increase in output which occurred in 1902 it
is possible to say that this country made more pig
iron than Great Britain and Germany, supplemented
by Belgium. The United Kingdom in 1901 produced
7,761,890 gross tons of pig. For 1902 the output of
that country was presumably somewhat over 8 million
tons. The production in Germany and Luxemburg
in 1901 was 7,860,893 metric tons and for 1902 it may
be estimated half a million tons more. Belgium's
output in 1902, we should judge, was In the neighbor­
hood of l i million tons. Hence the statement that
the output of the United States at 17,821,307 tons
was in excess of the combined make of Iron in the
same period of twelve months of Great Britain, Ger­
many and Belgium seems well within the mark.
In fact we may go a step further and declare that
neither Great Britain nor Germany produced as much
iron in the whole of 1902 as did the United States
during the last six months of that year. Daring
those six months, notwithstanding all the hindrances
and drawbacks already referred to, 9,012,733 tons of
iron were made in the United States.
This is a
million tons in excess of Great Britain's output for
the twelve months and half a million tons in excess of
that of Germany. We may add that Germany has
never as yet produced nine million tons of iron in any
fu ll year, and that the United Kingdom; but once

[V ol. LXXYI.

reached that figure, namely 9,421,435 tons in 1899.
Indeed, as recently as 1897 our own make of iron was
not much in excess of 9 million tons per annum.
In view of the magnitude of our production, the
promptness and completeness with which the returns
are compiled deserves notice. No statistics for the
full year are available as yet for either .Great
Britain or Germany, and it will be many months
before the official figures of either country are made
known. Mr. Swank issued his figures for the same
period of twelve months on Saturday last, January
24. This means that these elaborate results, covering
a total greater, as already shown, than Germany,
Great Britain and Belgium combined, and embracing
returns from 22 separate States— official returns, too,
— were gathered and collated inside of twenty-five days
after the close of the period to which they relate.
The achievement is the more noteworthy when it is
recalled that Germany and Great Britain not only
have smaller results to report on, but also in each in­
stance have a much more limited territory to cover.
The matter is one to which we have referred in previ­
ous years, the United States having long been dis­
tinguished in that way, but added importance is
given to it under the growth in output and the addi­
tion of new districts to the list. We give below the
half-yearly totals back to 1888.
PR O D U CTIO N OF P IG IRON IN H A L F -Y E A R L Y PERIO D S.

Gross Tons.

1888— 1st h a lf............. 3,OJ 0,092
2d half...................3,469,646
1889— 1st h a lf........... 3,661,603
2d half...................3,942,039
1890— 1st h a lf............. 4,560,513
2d half...................4,642,190
1891— 1st h a lf............. 3,368,107
2d half...................4.911,763
1892— 1-1 h a lf........... 4,769,683
2d half...................4,387,317
1893— 1st half,............. 4,562,918
2d half...................2,561,584
1894— 1st h a lf............. 2,717,983
2d half................. .3,939.405
1895— 1st h a lf............. 4,087,558
2d half...................5,358,750

Gross Tons.
1896—
1st h a lf....... 4,976,236
2d half ............... 3.646,891
1897—
1st h a lf....... 4,403,476
2d half................ 5,249,204
1898—
1st h a lf....... 5,869,703
2d half...................5,904,231
1899—
1st h a lf....... 6,289,167
2d half...................7,331,536
1900—
1st half....... 7,642,569
2d half................. 6,146,673
1901—
1st ha lf...... 7,674,618
2d half........... 8,20:-»,741
1902—
1st h a lf....... 8,808,574
2d half.................. 9,012,733

If production was of extraordinary proportions, con­
sumption wa3 of still greater magnitude. The de­
mand all through the year was far in excess of Bupply.
This is well shown in the situation which developed
as regards unsold stocks. Mr. Swank reports that
the American Pig Iron Storage Warrant ^Company
held no pig iron whatever in any of its yards on De­
cember 31 1902. He also points out that this is the
first time since its organization in 1889 that the com­
pany has not held at least a small quantity of pig iron
in its yards at the close of a calendar year. At the
end of 1901 It had 3,000 tons. As for the stocks of
pig iron unsold In the hands of manufacturers or
under their control, the amount, which had been ex­
ceptionally small at the beginning of 1902, was still
further reduced, the aggregate December 31 1902
being only 49,951 tons, against 70,647 tons December
31 1901 and 442,370 tons December 31 1900. The
49,951 tons is less than a single day's product.
As a result of this state of things (which extended
to steel as well as to iron), it became necessary to sup­
plement home supplies of iron and steel with large im­
portations from abroad. Of pig iron our Imports for
1902 were 625,383 tons, as against only 62,930 tons in
1901 and 52,565 tons in 1900. Taking Iron and steel
in all its forms the imports were 1,213,255 tons in
1902 against 221,297 tons in 1901 and 209,955 tons in
1900. Our exports at the same time were heavily
diminished. Of pig iron we exported only 27,487
tons, against 81,211 tons in 1901 and 286,687 tons in
1900. Of steel our shipments were 2,409 tons in 1902,
against 28,614 tons and 107,385 tons, respectively.

THE CHRONICLE.

January 31, 1903.]

Taking all the shipments reportedly weight, the ex­
ports were 372,811 tons, against 700,852 tons and
1,154,284 tons in the two years preceding. Allowing
for the changes in stocks and the imports and ex­
ports, we get the following comparative statement as
to the domestic consumption of pig iron.
P IG IR O N PR O D U C TIO N , STOCKS, IM PO R T8, AC.

Tons of 2,240 P ’nds.

1902.

1901.

[ 1900.

1899.

1898.

1897.

416,333
874,978
08,309
847,680
7$,6i7
440,020
Stock o f pig Jan. 1.
P rod u ct’n dur’g yr. 17,821,307 15,878,351 13789212 13,020,703 11,773,934 9,052,680

1

f2 5 \
S 31

C’nsum .of hom e pig 17,845,003 10,150,• 21 13111531 13,967,727
62,93d
52,50 5 1
40,3 3
825,383
Im ports o f pig.........

5

T otal supply........ 17,894,951 16,324,374 13857561 14.030,080 12,048,912 10,500,300
415,333
08,358
73,64- 440,020
49,951
874,978
Stock end o f y e a r ..
9,625,388
19,212

T o ta l......................... 18,470,330 10,813,657 13404O9O 14,00“ ,1.0 12,218,731 9,044,000
253,057
202,090
27,487
81,211 280.e8?
228,073
E xports o f pig.........
D om estic consum p. 1“ .4 ‘ 2,-99 10,'82,44- 1 177100119,779,442 12,005.071
t Partly estim ated.

0,981,714

235

ducing StateB, however, also greatly increaBBd their
output; Ohio alone made nearly 600,000 tons more
iron than the whole South, that State's product hav­
ing been 3,631,388 tons.
Pennsylvania, of course,
still stands far In the van, having no less than 8,117,800 tons to its credit, this comparing with 7,343,257
tons in 1901 and 6,365,935 tons in 1900. Herewith we
give the comparative record for the different States
for the last seven years.
PRO D U CTIO N O F PIO IRO N B Y STATES.

Tons of 2,240
Pounds.

1902.

1901.

1900.

1899.

j

1999.

Tons. !
1
Tons.
Ions.
Tons.
So. States— Ions.
Alabama....... 1,472,211 1225,212 1,184,337 1,088,905 1,033,67* \
305,491 2“ ?,274
490,617
V irgin ia ....... 637,210 448,062
203,439
346,10*
862,190
T en n essee... 392,778 337,139
187.850 192,096
100,158
W . V irginia.. 183,005 100,097
110,725
08,402
116.019 100,724
71,502
K entuck y....
5 13,702 I
G eorgia......... ( 32,315
81,338
17,835
28,984
l ......... [
N. Carolina..
290,073
134,477 190.974 ,
M aryland___ 303,529 303,’ 86
8,095
5,178
10,150
2,273
5,80 1
T ex a s............

1897.

1890.

Tons.

Tons.

947,831
307,010
272,1 3 j
132,907
35,899
17,092

922,170
£86,277
248,338
109,509
70,060
15,593
2,151
79,472
1,221

The foregoing serves to reveal in a graphic way
....
193,702
how very striking has been the home demand for iron
0,175
and steel, the consumption of pig metal having beeD T otal.......... 3,034,574 2,578,804 2,604,071 2,360,55« 2,083,726 1,913,340 1,834,451
18,442,899 tons in 1902, against 16,232,466 tons in P ennsylv’nia 8,117,80017,343,267 8,365,936 0,558,878 5,537,832 4,031,63414,024,ie6
1,980,358 1,372,889' 1,190,326
3(631,8:8| 8.326,425 2,470,911
1901, 13,177,409 tons in 1900, and but 9,381,714 ton? O h io.............. 401,869 283,002 292,827 2,378,212 228,011 243,304 200,075
New York ...
264,340
in the calendar year 1897. If in place of the exports New J e rse y .. 191.8=0 155,748 170,202 127,598 100,081 05,696 59,103
Illinois.......... 1,730,220 1.590,850 1,383,883 1,442,012 1,305,890 1,117,239 925,239
and imports of the pig metal we should substitute M ich ig an __ 155,21' 170,762 163,712 134,449 147,040 132,578 149,511
W iscon sin ...
the exports and imports of both steel and iron in all M issouri....... 4278,967 t207,5£l +184,794 +203,171 ♦ 172,781 103,909 158,484
12,548
23,883
*269,930 *203,409 *159,204 *138,880 141,010
18,202
57,104
9,997
12,005
its forms, the contrast would be still more striking, All others ... 15,446 11,828 13,513
for in 1902 the imports exceeded the exports in Grand total 1782130 15878354 13,789,242 13,620.703 11773934 9. #>52,880 8.023.127
* Including C olorado and State o f W ashington.
t Including M innesota.
amount of 840,444 tons, whereas in 1901 exports ex
ceeded imports by 479,555 tons and in 1900 by 944,PROPOSED NEW CORPORATION LAW IN
329 tons, as will be seen by the following.
IM P O R T S A ND E X P O R T S O F A L L K IN D S O F IRON AN D STEEL.

MASSACHUSETTS.

The corporation laws of the State of Massachusetts
have long excited general Interest. That part of
them which relates to public franchises and the regu­
Excess o f ex p orts ............
479,555
944,329
709,409
730,837
458,771
Excess o f im ports 840,444
............
........................ ................................................
lation of publio monopolies Is popularly, and proba­
In the matter of prices there was a sharp advance bly justly, supposed to be unexcelled in the protec­
in values, notwithstanding the effort of the United tion which it gives to the community at large with­
States Steel Corporation to prevent an undne rise. out seriously hampering the actual development of
Taking thekading grades of iron and steel, values for the enterprises regulated by it. On the other hand,
1902 averaged $5 to $6 a ton higher than for 1901. it has for some time been recognized that the laws of
Thus the average of steel billets was $30 57 against that State relating to private and business corpora­
$24 13, and the average of gray forge pig iron (Lake tions were nnsnited to existing industrial conditions,
ore) at Pittsburgh was $19 49 against $14 20. In the and calculated to prevent the fullest legitimate em­
case of steel rails, where the influence and authority ployment of capital under Massachusetts oharters.
of the United States Steel Corporation were effective, Such incidents as the removal from the State of its
there was no change all through the year from the only large corporation, the American Bell Telephone
schedule price of $28 00 a ton at the mills. It is Company, have Illustrated the truth of this state­
worth noting that this was actually far below the ment. Finally, as a result of natural agitation of the
average price for the twelve months of steel billets matter, a special commission or “ committee,” ap­
from which the rails are made. The following shows pointed under the authority of an A ct of the last
the annual averages on certain staple articles of iron Legislature, has carefully studied the situation and
and steel for each year back to 1895. It will be noted made a report, which will be carefully read by all who
that prices for 1902 are in many cases double those are interested in the modern development of corpor­
four years before In 1898. In the later months of ate activity. The Chairman of this committee, ex1902 some falling off from the extreme high figures Attorney General Hosea M. Knowlton, died in the
occurred.
antnmn oi 1902. The State of Massachusetts thus
A V E R A G E Y E A R L Y PR IC E S O F IR O N AND S TE E L, 1895 TO 1902.
lost an able and public spirited statesman of the
1902. 1901. 1900 1829. 1898. 1897. 1890. 1895.
broadest type. He took part in the investigations of
Articlest
$
$
$
*
$
l
t
Old Iron T rails at Phlla..ton.23 83 19 32 19 51 20 30
12 39 12 49 14 10 14 09
the committee to their close, and approved of its
No. 1 anth.fdy.pigat Phil. “ 22 19 16 87 19 98 19 30
1100 1210 12 95 13 10
Gray forge pig Iron atPhil. " 19 20 14 08 10 19 I8 60
10 23 10 48 1109 1149 conclusions.
Gray foi'KC pig Iron, Lake
We are gratified to see that the report of the Com­
ore, at P itts b u rg h ........ “
19 49 14 20 10 90
16 72 9 18 9 03 10 39 10 94
Besseiu'r pig iron at P itts. "
20 67 15 93 19 49
19 03 10 33 10 13 12 14 12 72 mittee recognizes to its full extent the true principle
Steel rails at m ills in P a .. “
28 00 27 33 32 29 28 18 17 82 18 75 28 00 24 33
S tlb llle ts a t mills at Pitts. “
80 57 24 13 25 00 31 12 15 31 1508 18 83 18 48 of the relation of the State to private corporations.
Best refined bar iron from
It discards “ the old theory that being creations of
storea t P h tla ... . . . . . . 10Qlbs. 2 13 184
190 207
1 23 1 31
1 40 144
Best re’d bar Iron at P itts. “
194
180
2 15 195
107 1 10
121 1 2 6
the State they shonld be guaranteed in all particulars
As regards the production in the different States, of responsibility and management," and adopts with­
the South during 1902 made a distinct advance. Al out reservation the view that “ in the absence of fraud
together the Southern States turned out 3,034,574 in its organization or government an ordinary busi­
tons of pig iron, against 2,578,864 tons in 1901 and ness corporation should be allowed to do anything
2,604,671 tons in 1900. All the other leading pro­ 1that an individual may do.” “ The State owes no

1802.
Im p orts................ 1,213,255
E x p orts................. 372.811

1901.
221,297
700.852

1000.
209,955
1,154,284

1899.
173,220
942,eS9

1898.
144,335
681,222

1897.
157 834
010,605

236

THE CHRONICLE.

duty," Bays this Committee, ‘ -'to persons who may
choose to deal with corporations to look after the
solvency of such artificial bodies nor to stockholders to
prevent them from going into such concerns, the idea
being that in the case of ordinary business corporations’ the State’s duty ends in providing clearly that
creditors and stockholders shall at all times be pre­
cisely informed of all the facts attending both the
organization and management of such corporations.’ ’
We do not suppose that the Committee means that
the State should require in favor of creditors much
more publicity than is required for a first-class rating
by a meicantile agency. Indeed, its forms for the
official returns to be made scarcely go as far as that.
The Committee recognizes a point, unfortunately
rather generally evaded or forgotten, that a share of
capital stock, although nominally one hundred dol­
lars in value, represents, as the word implies, only a
certain share or proportion of whatever net assets the
corporation has, which may be anything or nothing.
FiDarclal institutions of every description and
public service corporations were expressly excluded
from the scope of its inquiry. It confines itself to the
elaboration, in a draft statute submitted by it, of the
principles of incorporation which it has sotwell stated,
and of provisions for organization, maintenance and
taxation calculated to adapt the law to that concep­
tion and to modern needs, with as little disturbance
of^existing conditions as may be.
When one turns from the general statement of prin­
ciples’,^ the statute recommended, the first feeling is
one of disappointment because of the limited charac­
ter of the changes proposed. Upon second thought,
however, one must admit that the draft recommended
is as radical as is wise, if we are to hope for its prompt
enactment into law. And when once the State of
Massachusetts has recognized the principles involved,
their complete realization cannot long be deferred. We
may hope that, at some later date, the corporation la v
of that State will acquire, without loss of stability, the
breadth and convenience given by the New Jersey law
and by the English Companies Act.
The specific recommendations of the Committee
are that incorporation be permitted for practically
every lawful private purpose, that all restrictions on
the maximum amount of capital stock be removed,
and that it shall be lawful to make payment for stock
in^cash or in property. This last is, perhaps, the pro­
vision commonly^most important in considering in­
corporation. And the recommendation of the Com
mittee is as valuable as it is novel in this country. It
is based, apparently, upon the registration provisions
of the English Companies Act. The incorporators
and not the State are to pass upon the value of the
property contributed. Stock may be issued for cash,
property, services or expenses. But either the origi­
nal articles of incorporation, or, in case of increase of
stock, a certificate for the purpose must be filed for
public record, giving the location and area of all real
estate, describing all personal property in such detail
as the Commissioner of Corporations may require,
and clearly stating the nature of any services or ex­
penses; and in each case the amount of stock issued
for the property or purpose must also be stated. Thus,
any person who will consult the record may always as
certain the original investment on the faith of which
the corporation does business. He is to that extent
better off, and in no case worse off, than if he were
dealing with an individual. It is further provided

[V ol. LXXVI.

that the directors who sign the papers relative to the
issue of stock shall be j dntly and severally liable to
any stockholder of the corporation for actual
damages caused by any statement therein whioh is
false and which they have reasonable cause to believe
is false. The committee further recommends that
each corporation should be allowed to determine for it­
self the classes of its stock and all the rights and liabilltes of stockholders among themselves, such as terms
of preference and voting power. Minority interests
are to be protected only by provisions requiring twothirds votes, in some few cases, such as a change in
the corporate purpose and business, or in the voting
power of classes of stock, or the sale, lease, or ex­
change of the corporate property.
It is the expressed intention of the Committee that
foreign corporations shall be subject to the same re­
strictions and have the same privileges as domestic
corporations, and none other.
Substantially the
amount of information required upon the organiza­
tion of a domestic corporation is required by their
new draft law to be filed at the time of the admission
to the State of a foreign corporation. Directors, o f­
ficers and stockholders of such corporations are to be
personally liable to the same extent and with the same
penalties as are those of domestic concerns. And a
franchise tax for foreign corporations is recommended
by the statement that it is the same in principle as
that upon domestic corporations. This tax is an ad­
dition to the taxes at present levied by Massachusetts
upon foreign corporations.
It will be seen from this summary that the proposed
draft liberalizes the law, and will, if enacted, recog­
nize in a very satisfactory manner the essentially pri­
vate character of such enterprises as are affected by
it. On the other hand some marks of the old pater­
nal theory still remain. The absurd and futile pro­
vision that a foreign corporation may not issue its
securities against its ownership of the securities of a
Massachusetts public service corporation is apparently
to be retained in full force. And while some mate­
rial improvements are recommended in the system of
taxation of domestic corporations, the peculiar Mas­
sachusetts “ franchise" tax is to be retained and not
materially to be improved. Of this tax the Supreme
Court of the State itself has said that “ it is not laid
according to any rule of proportion whatever, but is
imposed without any reference to the amount to be
raised by taxation for public purposes or to the actual
property held by the corporation.” Yet proposed
legislation which involved radical changes in that tax
would probably fail of enactment. The fate of the
admirable, but too radical, revision of the Massachu­
setts tax laws, prepared by a like commission in 1897,
is recent enough to have served as a warning.
On the other hand, the provisions for taxation are
so integral and important a part of any general cor­
poration law that if they are not adapted to modern
conditions the law must fail of any broad or satis­
factory utility; and it would seem that the effect of
the enactment of the proposed legislation would prob­
ably be to limit incorporation under Massachusetts
charters to corporations whose stockholders and
management and the larger part of whose interests
are looated within that State. It will be an improve­
ment on the present conditions if the law is satisfac­
tory even to resident enterprises. But it would cer­
tainly seem that it would be a further Improvement if
the law should make possible the association of Massa-

J anuary

31, 1 0 .]
93

THE CHRONICLE.

chuaetts capital under a Massachusetts charter with
capital from other States In the large enterprises
which are now so common. The reputation of the
State for fair dealing and justice and the efficiency of
its courts would probably attract such enterprises to
incorporate there, and the drift which has carried
away from that State in late years the management
and control of such enterprises is partly accounted
for by the unfitness of its corporation laws for such
purposes. Even after the enactment of all the pro­
posed legislation, it will not be feasible for such an
organization as the United States Steel Corporation
to incorporate in Massachusetts. The committee
points this out with satisfaction, which is more clearly
apparent than their reason for it.
Elsewhere in their report, while expressing the
opinion that the question of trusts and monopolies is
not within their province, they have pointed out that
the evils of trusts affect neither the investor, who can
or should learn to take care of himself, nor the credi­
tor, who has already learned to do so, but only the
consumer, who can be as much injured by an individ­
ual or by a partnership as by a corporation. But the
Committee seems not to desire the incorporation in
Massachusetts of what we may, for the lack of a bet­
ter word, term cosmopolitan corporations, and it would
seem that the proposed legislation will not make Mas­
sachusetts's charters feasible for such concerns. At
the same time it will scarcely succeed in shutting
off all the means by which such foreign
corporations can do business in the State
without being subject to Its laws and restrictions.
Probably enterprise upon any moderately large scale
will combine to incorporate at least its holding com­
pany outside of Massachusetts, even when part of the
business is to be done within that State. Later, it
may be that the increased utility of the new law to
the residents of the State, its probable satisfactory
working for local concerns, and the demonstration
through it of the soundness of the principles which
the Committee have so well stated, will convince
future legislatures that enterprise is not wicked
because it is large, and that it is desirable that both
residents and non-residents of Massachusetts ought
to be free to associate in a Massachusetts corporation
without other restrictions than those placed upon
Individual enterprise.
Meanwhile this Committee
have recommended as much as is likely to be accom­
plished and have admirably stated the true con­
ception of the relation of the State to corporate
enterprises.
The report of the Committee contains, as an appen­
dix, a valuable document prepared by Mr. Frederic J.
Macleod of the Boston Bar. This is a comparative
digest of the corporation laws of all the States and
Territories. In form a clerical labor and appearing
at first sight to be merely a digest or Index, it provee
upon close inspection to be a condensed treatise on
the comparative facilities which the various States
offer to those taking out corporation charters under
their law. In clearness and suggestiveness of classifi­
cation and In fulness of reference it is unsurpassed
as a compendium of the laws of the United States
upon this Important subjeot. The fact that this is
put forth under the supervision of Mr. Frederic J.
Stimson, the junior member of the Committee, and a
well known legal writer, gives it additional value
without detracting from the credit due to the
author.

237

GOLD AND SILVER PRODUCTION IN THE
WORLD FROM JAN. 1881 TO DEO. 1902.
The world's new gold supply, as our readers are
aware, has during 1902 taken on^a fresh growth. For
very nearly two years and a half (beginning with
October 1899 and continuing through 1900 and 1901)
a marked deoline in the product has been a 'notable
fact. With so material a setback in the outflow from
the mines, and with the volume and values of the
world's business previously adjusted to the much
larger and annually increasing outflow, it can be no
surprise that the loss in new supply made itself
felt in financial affairs. Of .course k
there were other
contributory happenings which helped the monetary
strain that followed. A notable event in the industrial
world seldom if ever finds its full explanation in a sin­
gle influence. In this case the loss In the product was
also attended by increases in the demand. Indeed, the
United States, although it kept up and even increased
its product to a small extent— while the total of the
world's supply decreased—not only stopped giving
any portion of its product to Europe, but had begun
to draw upon Europe's otherwise depleted Inflow.
For the calendar years of 1898, 1899 and 1900 the
United States took of gold from the outside world
over 160^ million dollars net. We will not follow up
this idea further, for its remoter phases do not concern
our present inquiry.
It will, however, be of interest
to our readers in connection with the foregoing to
note the Bank of England's minimum rates of inter­
est ; they will be found for eight consecutive years*
from 1893 to 1901, both years included ( C h b o n i c l k ,
February 15 1902, page 358), given at the close of
our annual review of the trade of Great Britain for
1901. Notice particularly the advance in the rate
beginning with October 1899, when the Rand mines
were shut down, to the close of December 1901.
GOLD PRODUCT OP TH B W ORLD

1881

TO

1903.

The occasion of the loss in the world's annual gold
supply, which we have referred to above, is well un­
derstood. It was an Incident of the breaking out of the
war In South Africa In September 1899 and the closing
of the Rand and adjacent mines. Since that war termiuated the output of that center has again been on
the increase. It will be remembered that the re­
sumption of the reports of the Transvaal Chamber of
Mines occurred In May 1901. The product, howover, for a considerable time continued to develop
very slowly; it had only reached 52,397 ounoes in
December 1901. But since 1902 opened the progress
has been more rapid. The total passed the 100,000ounce limit in March 1902 (being that month 104,128 ounces), and in December last had nearly reached
200,000 ounces, the amount reported by the Chamber
of Mines for December 1902 being 189,637 ounces.
As the output in August 1899 was 459,710 ounces,
It will be seen that there is large room for growth yet
before the output equals the maximum produced in
the best month previous to the war.
Reports from South Africa respecting future devel­
opment are now, however, all favorable, except in
the matter of labor supply. According to Colonial
Secretary Chamberlain's opinion, expressed in his
address made at Johannesburg Saturday evening,
January 17, the future of the mining industry and of
the colony is highly promising. As to the question of
labor,he thinks the Kaffirs should be made to work,and
if they can be, it does not need to be said that the labor

238

THE CHRONICLE.

problem would be solved. Now they buy wives to
keep themselves in idleness. He calls that practice
the worst kind of slavery, and the world, we think,
will coincide with his view. The inference one must
draw from his remarks on this point is that the prac­
tice must be stopped. He says that “ the black race
is increasing with great rapidity and unless it can be
settled in a regular industry it will prove a danger and
a difficulty/' Of course it is not the affair of a day
or of a year to wholly change this situation, which
has grown up with the ages in a race. But there are
always among a people some who have more con­
science and more ambition than perhaps the majority
have, and if persistent effort is made to eradicate the
evil it will no doubt give way by degrees, and an
abundance of workers for all purposes be found.
“ In the meantime/' Mr. Chamberlain says, “ the
greater need is an increase of the white element;
what is wanted is more brains and less m uscle/’
He was “ opposed to any importation of labor until
all the resources for developing available labor had
been exhausted."
Evidently Mr. Chamberlain looks for speedy devel­
opment in an industrial way, but his plans take in a
higher and a wider development as well. In those
directions we may place the suggestions he made for
“ the establishment of a university which would be
superior to anything in the world.” Reviewing, how­
ever, the immediate outlook of the whole field of gold
mining as it exists in those colonies to-day— review­
ing it in the light of recent experience— it does not
seem impossible to us that the largest total
of the Rand mines, if not reached, may be
quite nearly approximated within the current
year. Additional encouragement is lent to this
expectation by promises given out of new devel
opment, that is of new mining ventures in the Trans­
vaal region. It is always very difficult to pick out the
quantum of truth such rumors from mining districts
contain and to know how many of them are based on
fact and how many on speculation and how much on an
over-sanguine temperament. Most judges expected a
greater and more rapid development in the Witwateistrand district of South Africa up to this date
than has been realized. The report for that centre
which we give to-day proves simply that more diffi­
culties have been met to be overcome in opening mines
which have been idle for nearly two years than were
foreseen. We ourselves are having another lesson of
a like character taught us by the results in our coal
mines after they had been shut down for a few
months only. But South Africa is recovering its out­
put in its other gold-producing districts more rap­
idly; in those sections the highest annual total was
341,908 ounces in 1898, and in 1902 it had again
reached 300,000 ounces.
Besides South Africa, material, though of course
very much smaller, increases in the world’s new gold
supply may be looked for during the current twelve
months from the United States and Australasia.
At the same time it is well to remember that
even should South Africa get back to its maximum
product before the war, by the end of 1903, and all
other sources of production remain unchanged, the
output of the world’s gold mines would still begin
1904 on a basis of product 2,000,000 fine ounces
larger (of the value In sterling of about 8£ million
pounds, or nearly 42 million dollars,) than the pro­
duct in 1902. This thought enables one to see that the

[V ol. LXXVI.

problem of the gold supply in the near future is one
of large possibilities. We are inclined to think, too,
that our supposition is not an improbable one. We
do not mean to say that we feel confident South
Africa will recover itself fully during the comiDg
twelve months; that is not our assumption. But take
all the other countries together, it appears likely that
there will be in them more than enough growth to
make up the lack there may turn out to be in Africa
of reaching its old monthly output.
There are, however, considerable uncertanties in
all mining anticipations. For instance, Canada’s pro­
duction has come far short of all forecasts. The out­
put seems to have settled down to a steady decline.
The maximum [was reached in 1900, when the total
product was 1,350,475 fine ounces, valued at $27,916,752. In 1901 the total value had declined to $24,462,222 and the ounces’ were 1,183,362; whereas in 1892
the product dropped further to 943,314 fine ounces
and to $19,500,000 value. No section ever has held
out a better promise, according to current reports,
than did the Klondike, and to find that the total
ounces had fallen last year below one million was
quite a disappointment. We notice that our territory
in the same region, Alaska, also made Its best year in
1900; and though it recovered in 1902 a considerable
portion of the decline in 1901, it is not yet quite up
to the 1900A
total. Bat Alaska’s product is still small,
the output in 1902 being only 378,476 fine ounces.
We should add, however, that recent discoveries in
that territory on Seventy Mile Creek and elsewhere,
if they afford a tithe of what is now claimed for them,
will bring up the gold product of its mines much
nearer to a full realization of the earlier promises.
It is with no little surprise we find that the prelim­
inary estimate of the gold product of the United
States made by Mr. George H. Roberts, Director of
the Mint, shows so small an increase for 1902 in
the year’s output. We by no means intend to reflect
on the accuracy of the estimate. It is no doubt cor­
rect—that is as nearly so as preliminary figures issued
almost immediately after the close of the year can
be.
The corresponding estimate for 1901, made
twelve months ago, has proved, indeed, to be very
close to the actual result. Oar surprise arises from
the fact that there having b3en during the year so much
claimed for new finds, coming from so many districts,
we looked for a better showing in the aggregate.
An examination of the details of the Director's
figures explains the matter.
It seems that some
of the largest producing States have fallen off slightly
in their output, while quite a number of the smaller
ones have in a moderate way increased their product.
Thus, for instance, there is a small loss in Colorado
and Montana. The three States standing next to
Colorado all show growth. The 1902 result in Cali­
fornia is particularly gratifying, in that its increase
though not large follows a small increase in several
preceding years; indeed, there has been no setback
since 1897, when the product had dropped to 707,160
ounces; now the preliminary report makes the ou t­
put 828,419 ounces in 1902. We have above already
referred to Alaska, but we are informed that the Ter­
ritory's future is brighter in promise than at any pre­
vious period. Oil experts just returned tell very
large stories about the strikes of oil in Southern
Alaska. So, too, the estimates of coming gold pro­
duction are beyond those of any previous period
The public, however, is getting used to large estl

THE

J anuary 31, 1903.]

CHRONICLE,

mates and small results from that section of the coun­
try, and prefers to wait for fuller developments be­
fore indulging in any very extensive anticipations.
Altogether, however, the United States is showing
growth again after two years of extremely little varia­
tion in the output.
We will add to the foregoing that from Russia we
have not as yet received any report of the year's gold
mining operations in that country for 1902. It will
be remembered that laBt year, April 12 1902, page
753, we gave a full account of the results as to
product for 1901, confirmatory of our earlier advices
in January. For other sources o f supply the details
are given below.
The general aggregate for the
whole world we have brought together in the following
compilation from 1881 to 1902, both years inclusive.
G O LD , — P R O D U C T IO N

J it
l\ £

IN T H E W O B L D — O U N CES A N D V A L U E S .

o

O 00 C 1
D
D

• • : ® ; ; ; : i
• • • •
; ; : : ® • : • j i
: • :
M C t©
* O

©

M 10 C i-* ©
6

. t M^
to
o

J©
1M• ‘
-

r

r

05 cn

t
o

IC
O
JO
• C M
D
2 O O
D

M
to © ©
-

05 6

: :
j i

g
s

S S S S s o

®g 3

:
• i ! : .1 s S
j j I i ;

J 't 'S fJ ' a

Sliil I

I 0D Q to
D

r
M
If |
S*® o
• to
-

S S S S S H

S i :
1 j j

»rrr
r
SlSiS£
g ilS sl

SiSSS I

IK:

“ For figures Irom 1881 to 1871 see Vol. 70, pages ‘2 56 to 260.
........................ 1871 to 1851 see Vol. 54, pages 141 to 144.
* The ounces In the foregoing table for any of the countries given
may be turned Into dollars by m ultiplying b y 20-6718. The value In
ounds sterling m ay also b e ascertained by m ultiplying the ounces by
•2478. Thus, according to the above, the product in Australia in 1902
stated in dollars is $85,702,719 and in sterling £17,610,852.

S

The following is a brief summary showing at a
glance the course of the gold product at different dates
in the world's gold supply; it is oondensed by averag­
ing the annual yield every five years, beginning with
1861-55, and concluding with the latest similar cycle,
1896 1900. We also append corresponding averages
of the values of the product in sterling and dollars to
promote ease in following the changes. The highest
and lowest and average prices of silver for the same
periods complete this condensed record.
G O LD

PRODUCT A V E R A G E D

ft Average,
, 5 years.

Average,
ounces.

E V E R T F IV E T E A R S
IN C L U S IV E .

Aver. val.
sterling.

Aver. val.
dollars.

1861-1855.. .. 0,873,004 £29,195,400 $142,078,004
1850-1800 . .. 0,648,755 27,817,800 135,374,654
1801-1805.. .. 5,810,941
24,709,200 120,240,041
1800-1870.. . . 0.132,296 20,048,704 120,705,570
1871-1875.. .. 5,005,303 28,810,205 116,871,703
1870-1880.. .. 6,209,811
22,335,102 108,930,479
1881-1886.. .. 4,913,550 20,871,777 101,571,919
1880-1890.. .. 5,320,834
22,001,704 109,991,225
1891-1895.. .. 7,802,103
33,390,003 102,523,833
1890-1900.. ..12,045,070 63,713,7411 201,890,490

FROM

1851

TO

1900

,------ -Silver price.-------->

High. Low. Average.

02«d.
02?ld.
02«d.
02Md.
01«d.
58«d.
52J6d.
54«d.
48Md.
31*6d.

59%d.
60*d.
0O^d.
0Od.
65*d,
4 6«d.
46%d.
41«d.
27d.
25d.

0 W . . . .1851-65
6 lH d ... .1850-00
01M d... .1801-05
0 O ^ d ... .1860-70
69d. .. . .1871-75
6 2 * d ... .1870-80
5 0 % d ... .1881-85
4 4 « d . . . .1880-90
35J*d... .1891-95
S 8 X d .....189 $-00

239

The cycle of greatest depression and also the cycles
of largest development are brought out dearly by
means of the foregoing summary. Using the figures
of dollar values, it is found that in 1851-55 the aver­
age value of the gold product was $142,078,604; in
1881-85 it had contracted until the average was only
$101,571,919; from that point it expanded until in
1891-95 the average reached $162,523,833, and in
1896-1900 it reached the enormous average of $261,396,490. But as this last cycle closes the growth, as
already stated, has received a setback. Below we give
the latest seven years, year by year, to fill out the
comparison, and also to show the extent of the arrest
in the progressive development the output has now
suffered.
T ear.

Total Ounces.

1896. ......... 9,820,075
1807. ......... 11,483,712
1898. .........14,016,374
1899. ......... 15,220,263
1900. ......... 12,684,958
1961. ......... 12,894,856
1902*
*......... 14,734,269

V a lu es, S terling,

£41,713,715
48,780,511
59,538,652
64,652.663
53,883,164
54,774,769
62,588,228

V a lu es, D o lla rs.

T ea r .

$202,998,626. .........1896
237,388,998. .........1897
289,743,680. .........1898
314,630,233. .........1899
262,220,915. .........1900
266,559,884. ......... 1901
804,583,862.........*1902

* Estimated.

As to the comparative production of the various
sources of supply in 1902 and the future prospects of
yield in each, so far as we have been able to procure
the facts, they will be found in the summaries imme­
diately following.
U n it e d S t a t e s .— Notwithstanding less promising
results in Alaska than expected and a decrease in the
output of Colorado mines, the United States shows a
gain in gold yield for 1902 of 105,768 fine ounces.
The product of the country for 1902 was consequently
the greatest in its history and slightly more than
Africa’s record total of 1898. Nevertheless the United
States again relinquishes the leading position it as­
sumed in 1900, Australasia having increased its out­
put. Gold-mining in this country has shown less
eccentricities than in the other important producing
countries. With the exception o f 1901, when a slight
decrease was exhibited, progress] has been steadily
upward for a decade. On the other hand Australasia,
while developing its product quite rapidly from 1896
to 1899, suffered a considerable decline in 1900, and
for 1902 gives a total only 40,000 ounces greater
than in 1899 ; the United States during the same
interval added to its output about 475,000 ounces.
The preliminary estimate for 1902 kindly furnished
us by Mr. George B. Roberts, Director of the Mint,
places the production at approximately 3,911,268
ounces valued at $80,863,070, against 3,805,600
ounces valued at $78,666,700 in 1901, and 3,829,897
ounces valued at $79,171,000 in 1900. The ounces
and values as given for each State by the Director are
as follows, comparison being made with 1901 and 1900:
G O L D P R O D U C T IO N IN U N IT E D 8T A T E S .

G o ld Production.

-----------19D0.---------- > ,------------190L------------ . ,------------- 19QS.------------ Fine ozs.

Value.

Fine ozs.

Value.

Fine oss.

Value.

C olora d o.........1,391,082 $28,829,400 1,339.078 $27,893,500 1.330.430 $87,502,429
C a lifo r n ia ....
765,109 15.810,200
817,121 10,891,400
828.419 17,124.941
A la sk a ............ 395,171
8,171,000
333,090
0,885,700
378.470
7,823,79*
8 o. D a k o t a ...
298,842 0,177,000
313,440
0,479,500
857,881
7,398.057
M on ta n a ........ 227,200
4,098.000
229,495
4,744,100
200,000
4.134,305
A rizon a .......... 202.850
4,193,400
197,515
4,083.000
201.400
4,165.039
U ta h ................ 193,155
3,972,200
178,618
8,690,200
180,000
3,720,980
N e v a d a ...........
97.050
2,000,200
143,374
2,908,800
170,000
3,514,212
83,433
1,724.700
90,427
1,869,300
100.000
2.007.183
Id a h o ..............
O re g o n ...........
81,980
1,694,700
87,950
1,818,100
90,000
1,860,405
New M e x ico ..
40,292
832,900
83,302
686,400
33,302
088.400
W a sh in gton ..
34,743
718,200
28,082
580.500
21,000
434,109
M ich ig a n .......
1,403
29,000
1,490
80.800
1.490
30,800
South. States. 13,182
272.600
11,403
235,700
10.939
350,101
O th er S ta tes.
1,093
35,000
014
12.700
2,331
4S.180
T ota ls . . . .3329,897

$79,171,000 3,805,500

$78,600,700

3,911.208 $80,853,070

While, as intimated above, the aggregate result for
1902 exhibits a satisfactory increase over the previous

THE CHRONICLE.

240

year, some of the more important producing centreB
do not share in the better showing. According to the
preliminary figures for 1901 Colorado was expected to
give a small increase that year, but instead recorded
a moderate deorease, and the 1902 estimate points to
a still further, though slight, recession. California
did much better than anticipated in 1901, and the
final figures for 1902 should show continued progress.
Alaska’s output for 1902, although greater than
for 1901, fails to reach that of 1900. South Dakota
is coming to the front as a leading producer, its yield
haying almost doubled in the past ten years, and
being now not far behind that of Alaska. Nevada
also is steadily improving its position. Of the remain­
ing States there is little to be said. Montana, Oregon
and Washington in 1902 decreased their output, and
Arizona, Utah and Idaho gave better results. The
Southern States returns furnish evidence of greater
attention to gold-mining, their total yield, though
small, having risen nearly 50 per cent in 1902.
A frica .— Returns from the Wltwatersrand District
of South Africa denote clearly how rapidly the mining
industry is recovering from the severe setback the
war entailed, and indicate that full production may
be fairly looked for in 1903. The year 1902 opened
with twenty-one mines being worked, the January
output reaching 70,341 fine ounces; it closed with
about fifty mines turning out ore, and a monthly pro
duction of 189,537 fine ounces. Even this latter total
does not compare favorably with the 459,710-ounce
output of August 1899, but it is greater, with but few
exceptions, than the result for any similar period
prior to November 1897. Few, if any, of the mines
now being worked have anywhere near their full
complement of men, or the outturn would be very much
greater. Furthermore, about thirty mines in the
Witwatersrand District alone have yet to resume. In
the territory contiguous to the Rand— Barberton,
Lydenburg, DeKaap and Klerksdorp— only two
mines out of thirteen made reports for October; but
recent progress has been so satisfactory that anticipa­
tions of full resumption within 1903 seem not with­
out warrant. The results by months in 1902 and 1901,
stated in fine ounoes (the basis on which reports are
now officially made), and the monthly figures for the
four years ended with 1899, as well as our estimate
for 1900, both stated in gross ounces, are appended.
W TTW A TK R SR A N D DISTRICT— OUNCES V A L U E D A T A B O U T £ 3 1 0 8 .*

Ounces.

1896.

January.......
148,177
F ebru ary.... 167,019
M arch..........
179,154
A p ril............
176,707
M ay............... 195,008
June..............
193,641
J u ly ............... 203,874
A u g u st........
212,430
Septem ber..
202,562
O ctober.......
199,891
N ovem ber..
201,114
D ecem b er..
201,316

1897.
209,832
211,000
232,067
235,698
248,305
251,529
242,479
259,603
262,150
274,175
297,124
310,717

1898.
318,827
297,976
325,908
335,125
344,160
344,670
359,343
376,912
384,080
400,791
393,311
419,504

1899.

1900.

1901

410,14611
404,336
441,578
439,111
444,933
445,768
) 479.489.
456,474 1
459,710
411,762
19,906 1
61,780 |
73,670J
L

T ota ls... 2,280,892 3,034,679 4,295,607 4,069,169

479.489

1902.

7,479
19,779
25,960
28,476
31,936
33,393
89,076
62,897

70,841
81,405
104,128
119,689
138,6 c8
142,781
149,179
162,761
170,802
179,660
182,749
189,587

238,995 1,691,525

* The Transvaal Chamber of Mines in 1901 and 1902 reported the
produet in fine ounoes; for all other years the figures in the above
table are gross ounees valued at about £3 10s. per ounce.

The mines in the districts immediately adjacent to
the Rand have not as yet fared as well as the Rand in
the matter of resuming operations. For December
their aggregate output was only 6,486 fine ounces,
compared with about 22,000 fine ounces monthly just
prior to the breaking out of hostilities. But in other
sections of Africa, notably Rhodesia, operations have
progressed quite satisfactorily. Returns to the Rho­

[Vol. LXXYI.

desia Onamber of Mines denote that the 1902 output
of the district has been 194,268 ounces, as against 172,150 ounces in 1901 and 91,316 ounces in 1900. Com­
bining all the fields outside the Rand we reach an
estimated production of about 307,286 fine ounces, or
71,585 fine ounces more than in 1901. The following
Indicates in fine ounces and values the progress of
gold production In Africa from year to year slnoe
1887.
A F R IC A ’ S GOLD PRO D U CTIO N — FIN E

Year.

r-W iU oatersranA-.
Ounces.
£

1887 (part y e a r ).... 28.754
122,140
1888 ....................... 190,266
808,210
1889 ............................ 316,023 1,342,404
1890 ....................... 407,750 1,732,041
1891 ................ . . . 600,860 2,552,333
1892 ....................... 1,001,818 4,255,524
1893 ....................... 1,221,151 5,187,206
1894 ................ ....1,637,773 6,956,934
1895 ....................... 1,845,138 7,837,779
1896 ....................... 1,857,071 7,888,465
1897. ......................... 2,491,552 10,683,616
1898. .......
3,562,813 15,134,115
1889............................ 3,360,091 14,273,018
1900 ....................... 395,385 1,679,518
238,995
1,015,203
1901 ................
1902 ...................1,691,525
7,185,260

OUNCES.

------- Other-------, ,---------Total---------

,

Ounces.

£

Ounces.

£

.............................
28,754
122,140
50,000
212,390
240,266 1,020,600
50,000
212,390
366,023 1,554,794
71,552 303,939
479,302 2,085,980
127,052
539,691
727,912 3,092,024
148,701 631,652 1,150,519 4,887,176
159,977 679,550 1,381,128 5,866,756
227,765 967,500 1,865,538 7,924,434
270,000 1,146,906 2,115,138 8,984,686
293,035 1,244,755 2,160,106 9,133,220
326,941 1,888,780 2,818,493 11,972,396
341,908 1,452,354 3,904,721 16,686,478
305,784 1,298,909 3,665,875 16,671927
166,922 709,051
562,307 2,888.569
235,701 1,001,211
474,606 2,016,414
807,286 1,305,299 1,998,811 8,490,669

T ota l...................20,846,965 88,553,746 3,082,624 13,094,380 23,929,589 101,648,126

The total yield of the African mines for the six­
teen years that gold-mining has been prosecuted In
the country Is here seen to have been 23,929,589 fine
ounces, valued at £101,648,126.
A ustralasia .— The principal feature of the re­
turns of gold production in Australasia in 1902 is the
further considerable advance in Westralia. That
province is not alone in giving an increased output,
but its share of the year’ s gain is particularly notice­
able, following as it does a large addition in the pre­
ceding year. The steady and rapid development of
the mining industry in Westralia is certainly one of
the most important incidents of the gold history of
recent years. Only ten years ago, out of a total Aus­
tralasian product of 1,796,130 gross ounces, Westralia
contributed but 59,548 gross ounces, or less than 3$
per cent. Five years later, however, its output had
risen to 688,603 gross ounces, as compared with
2,924,214 gross ounces for the whole country, or
nearly 24 per cent, and in 1902 its share of an aggre­
gate yield of 4,795,174 gross ounces was 2,177,441
gross ounces, or over 45 per cent.
Victoria ex­
hibits a further moderate loss, its product for 1902
havlDg been 760,000 gross ounces, or 30,050 gross
ounces less than in 1901 and smaller than In ary year
since 1894. The New South Wales yield Increased
29,565 gross ounces during the year, but was less
than in 1894. Queensland recorded a considerable
increase In 1902, advancing to 940,000 gross ounces,
from 816,592 gross ounces In 1901, but even here the
total is slightly below either 1899 or 1900. New Zea­
land exhibits an addition of 45,884 gross ounces, or
about 10 per cent, its 1902 yield beiDg 502,443 gross
ounces—the record total. The output of all the colo­
nies In 1902 was4,795,174 gross ounces, against 4,330,241 gross ounces In 1901, Westralia furnishing 295,686 gross ounces of the increase and the remaining
divisions combined but 169,241 gross ounces. The
country has again assumed the leading position
among the world’s gold producers, and current and
prospective further development of the fields in
Westralia seems to assure Its retention for some little
time to come, barring unexpected discoveries in coun­
tries now prominent in gold-mining.
We subjoin tables indicating the produot of each
colony, the first table in gross ounces and the second

THE

January 31, 1903.]

CHRONICLE.

table In fiae ounces, the figures In a few instances
being In part estimated, but close approximations.
In obtaining the fine ounces, 8 per cent has been
deducted for base metal in each year from 1894 to
1899, Inclusive, but for the years previous to 1894, as
well as for 1900, 1901 and 1902, the reduction is
somewhat greater, being based upon the reported
values for each colony as given in the official returns
to us.
P R O D U C T O P G O L D IN A U S T R A L A S IA N CO LO N IE S — G R O S S O U N C E S.

Vrs. Victoria.

New So.
Wales.

Queens­ Western
New
South lasma- TotalAusland. Australia. Zealand. Australia, nla. tralasla.

1390. .888,660
1391..676,399
1898. .654,456
1893..671,126
1894. .673,680
1895.. 740,086
1896..805,087
1897..812,766
1898..837,258
1899. .862,411
1900..807,407
1901.. 790,060
190a.-760.000

127,460
163,336
156,870
179,288
324,787
360,165
296.072
292,217
341,722
509,418
346,650
270,724
300,289

610,587
661,641
605,612
616,940
676,000
631.682
638,212
807,928
918,100
947.626
961,065
816,692
940,000

34,209
30,311
69,548
110,890
207,131
231,513
281,265
688,603
1,050,182
1,648,876
1,580.944
1,881,756
*,177,442

193,193
20,610
24,831
28,700
48,769
251,996
287,392
88,974
43,278
226,811
33,820
37,687
221,633 35,844
67,873
293,491
47,348
54,964
62,586
263,722 29,004
251,644
60,736
10,322
280,176
20,000
69.619
389,585 32,990 76,622
371,993
29,397
73,011
455,559 34,060 81,500
602,448 *35,000 •80,000

1,599,350
1,651,151
1,796,130
1,876,562
2,195,848
2,359,244
2,375,948
2,924,214
3,516,987
4,462,528
4,159.467
4,380.241
4,795.174

* E stim ated .

241

1901, inclusive— the country's yield has never
risen above 1,391,260 fine ounces nor fallen below
922,226 fine ounces, ranging most of the time
between about 1,050,000 and 1,200,000 ounces. In
a recent cable message, Mr. John Rosens!, of Seattle,
Wash., American managing director of the North­
western Siberia Co., states that the right to prospect
for gold and other minerals included in the trading
and development concessions to the Northwestern
Siberia Co. for the 200,000 square miles in Eastern
Siberia bordering on Bering Sea and the A rctic
Ocean, has been extended to Americans on the same
terms as to Russians. Bearing in mind the energy
displayed in developing the fields In California, Colo­
rado and Alaska, much should be expected as a result
of the privilege this cable indicates has been exten­
ded. In the absence of any definite information from
which to draw conclusions, we estimate the 1902
product about the same as that for 1901. The exhibit
for 11 years is as follows:

P R O D U C T O P G O L D IN A U S T R A L A S IA N C O L O N IE 8— F IN E O U N CES.

New So.
Trs. Victoria. Wales.

Queens- Western
New
South Tasmar TotalAusland. Australia. Zealand. Australia, nia
tralasla.

1890..654,225
1891..530,287
1892. .602,100
1893..612,467
1894..619,786
1895. .680,870
1896. .740,680
1897.. 747,744
1898. .770,277
1899. .793,418
1900.. 726,666
1901..711,046
1902. .684,000

631,096
30,603
616,710
27,886
545,051
64,785
562,649
101,132
621,000
190,561
581,147
212,992
587,165 258,764
743,294
683,515
814,652 968,187
871,816 1,612,866
865.959 1,438,659
733,976 1,616,933
846,000 1,871,006

116,774
141,069
142,227
163,671
298.804
331,362
272,388
268,840
314,885
488,665
281 209
216,884
254,481

180,968
231,837
218,401
206,852
203,810
270,012
242,624
231,512
267,762
358,418
335.300
412,868
446,939

21,541
26,404
85,857
30,844
32,976
43,556
26,684
9,497
18,400
80,361
26,453
29,668
81,600

17,965
44,497
39,817
34,377
63,243
50,567
67,579
65,876
68,995
70.492
66,710
70,900
72,000

1,453,172
1,518,690
1,638,238
1,711,892
2,020,180
2,170,505
2,185,872
2,690,278
3,236,638
4,106,596
3.729.981
3,792,364
4,146,676

Ca n a d a .— A further decrease in the gold produc­
tion in Canada In 1902 is indicated by the returns
now at hand, the year's yield having fallen to approxl
mately 943,314 fine ounces from 1,183,362 fine ounces
in 1901. The less favorable showing is primarily, if
not wholly, due to the poorer outturn from the Yukon
district.
This is rather disappointing, as develop*
ment in progress at the close of 1901 seemed to assure
an increased yield for 1902. But great difficulties
arising from severe winter weather must always inter
fere with progress in gold-mining in the Far North.
The open season— the period when washing can be
carried on— is so limited that when it is restricted it
seriously affects the volume of the outturn. In the
other fields droughty conditions are the main condi­
tion to be contended with. The results for the whole
of Canada for the last ten years in fine ounces and
values are as follows. We are under obligation to Mr.
E. D. Ingall, Mining Engineer to the Geological Sur­
vey of Canada, for the estimate for 1902.
Values.
Canada’ s production
Canada’ s
“
Canada’ s
"
Canada’ s
“
Canada’s
“
Canada’s
“
Canada’ s
“
Canada’ s
“
Canada’ s
“
Canada’s
“
Canada’ s
“

In
“
“
“
“
“
“
“
“
“
“

1892............................
1893............................
1894............................
1895............................
1896............................
1897............................
1898............................
1899............................
1900............................
1901............................
1902............................

$907,600
927,200
1,042,100
1,910,900
2,817,000
6,089,500
13,838,700
21.324,300
27,916,752
24,462,222
19,500,000

Ounces.

43,905
44,853
50,411
92,440
136,274
294,582
669,445
1,031,563
1,350,475
1,183 362
943,314

R ussia .— We have received very little information
with reference to the progress of gold production in
Russia. We hear of new deposits being opened from
time to time, but future returns of output furnish no
evidence of industry in developing them. Manchuria
and Eastern Siberia are reputed to be the seat of
considerable deposits. If this be true, it would seem
that little effort is made to work them beyond a cer­
tain limit, for of all the gold-producing countries
Russia shows the smallest variations from year to
year. During a period of thirty years— from 1872 to

Values.

O unces.

Russia’ s production In 1892.
M
Russia’ s
“ 1893.
«
Russia’ s
“ 1894.
“
Russia’ s
“ 1895.
“
Russia’s
“ 1896. ............................. 21,535,757
M
Russia’s
“ 1897.
“
Russia’ s
“ 1898. ............................. 25,463,337
“
Russia’s
“ 1899.
•
«
Russia’ s
“ 1900. ............................. 20,145,500
Russia’s
“
“ 1901.
“
Russia’ s
“ 1902. ............................. 23,462,493

1,199,809
1,345,224
1,167,456
1,397,767
1,041,794
1,124,511
1,231,791
1,072,333
974,537
1,135,100
1,135,000

I n d ia .— Although strictly speaking not an im ­
portant field, India has steadily but moderately in­
creased its yearly contribution to the world's new
gold supply. Almost all the gold comes from half a
dozen mines Id the Colar field, and these generally
furnished better results in 1902 than in 1901. The
returns we have received make the aggregate pro­
duction of the district 514,328 gross ounces, against
601,607 gross ounces in 1901 and 495,840 gross ounces
in 1900. The statement of yield presented in gross
ounces has been as follows for six years.
■ A S T IN D IA —GOLD PRODUCTION P R IN C IP A L MINES.

1902.

1901.

1900.

1899.

1898.

1897.

Ounces. Ounces. Ounces. Ounces. Ounces. Ounces.
Cham pion R e e f......................... .159,574 158,999 164,063 159,101 140,158 123,926
O oregum .....................................
86,909
84,357
61,282
52,585
55,819
M ysore ....................................... .168,504 163,000 163,135 1 6 V 86 159,374 127,667
67,000
N u n d y d roog ..............................
47,737
43,654
41,534
56,377
Balaghat M y sore..................... . 26,807
19.500
15.500
7,555
414
176
M ysore W est an d W y n a a d .. . 7,800
6,915
6,096
4,358
5,225
10,349
3,503
C orom an d el............................... .. 5,000
6,676
8,160
12,000
M ysore R e e f s ............................
245
2,852
643
N ine R e e fs ................................
6,082
5,875
4,661
2,440
224
M ysore G old F ield s................
737
3,000
2,438
1,798
W on d all (D ecca n )...................
1,869
7,826
1,894
Road B lo ck ................................
202
1.523
104

..

614.328 601,607 496,840 448,076 417,124 389,779

Other Countries .—A number of the smaller pro­
ducing countries have made noteworthy progress in
the mining of gold within the past two years. Mexico,
for instance, which a decade ago yielded but little
more than 50,000 ounces, now has an output of about
500,000 ounces. China has increased Its output three­
fold within a few years. Korea has done even better,
and a number of the South American States are re­
porting a better output. Under all the circumstances
we believe we are safe in concluding that “ other
countries” as a whole may be credited with a fair
increase in production in 1902.
Silv e r .— P roduction oe the W orld .— We have
found it, as usual, difficult so early in the year to ob­
tain accurate information as to the progress in 1902
of the silver-mining industry. Suoh information as
we secured last year upon which to base an estimate
of the 1901 yield proved in the aggregate to be much
closer to actual results than usual, the revision now

THE CHRONICLE.

242

necessary entailing a change of only three-quarters of
million ounces In a total of one hundred and seventyfive millions. Mr. Roberta’s (Director of the Mint)
estimate for the 1902 sliver output indicates a yield
of 68,666,084 ounces, or 3,362,084 ounces greater than
In 1901, and Mexloo is likely to increase its product
moderately.
From Australasia and “ all other
countries ” such returns as are at hand are very in­
conclusive and do not seem to warrant any importaut
variations from the 1901 figures. But altogether and
as a result of the gains in the United States and
Mexico the world’s product is a little in excess
o f the volume in 1901 and in 1900, and consequently
makes a new record of yield. We give below a state­
ment covering each year since 1890. See C hronicle
o f Feb. 11 1899, page 268, for figures back to 1871.
a

S I E V E R . — W O R L D ’ S P R O D U C T IO N IN OUN CES A N D S T E R L IN G .

P in e
O unces.
1891 ...........
1892 ................
1893 ................
1894 ................
1895 ...........

U n ited
States.

M ex ico.

Ounces.

Ounces.

58,330,000
63,500,000
60,000,000
49,500,000
55,726,945

35,719,237
39,504,800
44,370,717
47,038,381
46,962,738

A ll O th er
A u stra lia . P rod u cers.

Ounces.

Ounces.

10,000,000
13,439,011
20,501,497
18,073,440
12,507,335

T o ta l.

Ounces.

33,916,175
36,496,175
41,228,063
53,140,696
53,983,231

137,965,412
152,939,986
166,100,277
167,752,517
169,180,249

T o ta l
V a lu e s .
£+
25,900,276
25,370,518
24,655,510
20,226,410
21,059,416

T o t a l ’91-’95 287,056,945 213,695,873 74,521,283 218,764.340 793,938,441 117,212,125
1896 ..........
1897 ..........
1898 ..............
1899 ..............
1900 ..............

58,834,800
53,860.000
54,438,000
54,764,500
67,647,000

45,718,982
63.903,180
56,738,000
65,612.090
57,437,808

12,238,700
11,878,000
10,491,100
12,686,653
13,340,263

40,268,888
44,481,892
51,560,764
44,161,000
44,413,802

157,061,370
164,073,172
173,227,864
187,224,243
172,838,873

19,959,882
18,835,500
19,488.135
19,161,112
20,344,676

T o t a l’96-00.279,544,300 269,410,060 60,684,716 224,836,446 834,425,522

97,839,204

1901 ............ 55,214,000
1902 ............. 58,566,084

19,824,057
17,988,101

57,656,549 13,049,243 49,078,781 174,998,573
58,000,000 13,100,000 49,200,000 178,866,084

t Values o f silver in this table are com m ercial values and are com ­
puted on the average price each year of silver as given by Messrs.
Plxley & Abell. London. Value o f £ in this table $4-8665.

COTTON SU PPLY AND CONSUMPTION IJ,
EUROPE.
The cable brings us to-day all the results of inter­
est contained in Mr. Ellison’s “ Annual Review of the
Cotton Trade for the Year 1902,” which was issued in
Liverpool on Wednesday of the current week. The
figures received cover not only the usual statistics of
supply and consumption for the calendar year 1902
and the first three months of the new crop season, but
also detailed estimates of imports, consumption, etc.,
for the full season ending Oct. 1 1903, and actual re­
sults for earlier years. The actual figures of spinners’
takings, consumption and stocks in Great Britain and
on the Continent for 1902, in bales of 500 lbs., have
been as follows.
S P IN N E R S’ T A K IN G S , CONSUM PTION AN D STOCKS IN

I n 500 -lb. B ales.

1902.

Qt. B rita in . Continent.

Total.

Stocks January 1 1 9 0 2 ......................
Takings..................................

140,000
3,378,000

402,000
4,955,000

542,000
8,333,000

Supply..................................................
Consumption.......................................

3.518.000
3.264.000

5.357.000
4.810.000

8.875.000
8.074.000

Stocks January 1 1903....... ............

254,000

547,000

801,000

Weekly consumption.........................

62,769

92,500

155,269

It will b8 observed from the foregoing that Mr.
Ellison makes the average weekly consumption of the
mills in Great Britain 62,769 bales of 500 lbs. each in
1902, or a loss of 866 bales per week from 1901, and a
decline of 4,654 bales per week from the 1899 aver­
age. Continental consumption records a very satis­
factory increase over 1901, but has been only 500
bales per week greater than in 1899. For the whole
of Europe, therefore, the 1902 average weekly rate,
and consequently the total consumption, shows an
excess over 1901 or 1900, but compared with either
1899 or 1898 a decrease is still apparent. Surplus
stocks at all European mills at the end of the year are

[V ol. LXXYI.

placed at 801,000 bales, or 259,000 bales more than
they stood at the opening, and almost double what
they were on October 1— the beginning of the new
season. This large increase in mills stocks in great
measure explains the deficiency, compared with last
year, in the visible supply, which has been a feature
of recent weeks. Furthermore, in no previous season
have the mills carried at the end of December as
heavy stocks as in 1902. The nearest approaoh to
the total now recorded was in 1898, when the aggre­
gate was 668,000 bales.
Since the first of January European mills have
made further material additions to their stock of cot­
ton. For the four weeks ended January 29 the fig­
ures of the Liverpool Cotton Exchange indicate that
352.000 bales were forwarded to mills, whereas con­
sumption (according to Mr. Ellison’ s estimate of
65.000 bales per week) has been 260,000 bales. Con­
tinental imports for the same four weeks have reached
635.000 bales, of which 99,000 bales have gone to in­
crease the visible supply at the ports, and consump­
tion, as per Mr. Ellison’ s weekly estimate, has been
376.000 bales, leaving 160,000 bales as the increase in
Continental mill stocks. Altogether, therefore, at
the end of January all European mills hold stocks
fully 250,000 bales in excess of December 31 1902 and
about 325,000 bales greater than on January 31 1902.
The foregoing compilation presents the results for
1902 only; to bring out clearly the relation the 1902
figures bear to those for previous years, we have pre­
pared the following, which covers the period from
1895 to 1902, both years included.
B ales o f

500 Lbs.

Spin’ rs’
Stock Takings.
Jan. 1.

S upply.

Spin’rs' W eekly
Con­
Consum ption. Stock
Dec. 31. sum pt’ n

G t. B r i t a i n .
1902.................
1901.................
1900 .............
1899.................
1898.................
1897.................
1896.................
1895.................

140,000
238,000
172,000
199,000
97,000
LI 1,000
133,000
100,000

3,378,000
3,211,000
3,310,000
3,479,000
3,573,000
3,236,000
3,268,000
3,296,000

3,518,000
3,449,000
3,482,000
3,678,000
3,670,000
3,347,000
3,400,000
3,396,000

3,264,000
3,309,000
3,244,000
3,506,000
3,471,000
3,250,000
3,289,000
3,264,000

254,000
140,000
238,000
172,000
199,000
97,000
111,000
132,000

62,769
63,635
62,385
67,423
66,750
62,500
63,250
62,760

C o n t in e n t .
1902.................
1901................
1900.................
1899.................
1898.................
1897............... .
1896................
1895.................

402,000
260,000
459,000
469,000
252,000
298,000
379,000
491,000

4,955,000
4,770,000
4,338,000
4,774,000
4,897,000
4,387,000
4,118,000
4,030,000

5,357,000
5,030,000
4,797,000
5,243,000
5,149,000
4,685,000
4,497,000
4,521,000

4,810,000
4,628,000
4,537,000
4,784,000
4,680,000
4,433,000
4,199,000
4,142,000

547,000
402,000
260,000
459,000
469,000
252,000
298,000
379,000

92,500
89,000
87,250
92,000
90,000
85,250
80,750
79,654

A ll E u r o p e .
1902.................
1901.................
1900 ...............
1899.................
1898.................
1897.................
1806.................
1895.................

542,000
498,000
631,000
668,000
349,000
409,000
511,000
591,000

8,333,000
7,981,000
7,648,000
8,253,000
8,470,000
7,623,000
7,386,000
7,326,000

8,875,000
8,479,000
8,279,000
8,921,000
8,819,000
8,032,000
7,897,000
7,917,000

8,074,000
7,937,000
7,781,000
8,290,000
8,151,000
7,683,000
7,488,000
7,406,000

801,000 155,269
542,000 152,635
198,000 149,635
631,000 159,423
668,000 156,750
349,000 147,750
409,000 144,000
511,000 142,404

The information now at hand tends to confirm the
reports made public from time to time that the mills
in Great Britain worked upon very small margins of
profit in 1902. In fact, it would appear that the
aggregate profit of the mills reporting in 1902 was muoh
smaller than in any recent year, and that only six
years out of the nineteen included in our compilation
made a less favorable showing. Oar cable states that
90 companies in the Oldham district report an aggre­
gate profit of £24,727 in 1902, or an average of only
£275 per mill, against £3,674 per mill in 1901, £3,415
per mill in 1900 and £4,406 in 1899. The showing
made by the Oldham mills ^slnce 1883 has been as
follows.

THE

J a n u a r y 31, 1903.]

CHRONICLE

243

/
P r o fit o r L o s t
Com P r o fi t + o r
p e r M itt.
p a n ic s .
L o s s .—
Tear*—
£ f 275
+*24,727
90
1902.........................
+3.674
+323,331
88
1901.........................
+3,415
+292,861
86
1900.........................
+343,699
+4,406
78
1899.........................
+231,518
+3,307
70
1898.........................
+147,724
+1,857
79
1897.........................
+46,772
+508
92
1896.........................
+63,329
+667
95
1895..........................
-15,837
—
177
93
1894..........................
—
782
-72,768
93
1893.........................
—
101,434
-1,127
90
1892.........................
+10,763
+116
93
1891.........................
+376.041
+4,170
90
1890..........................
+220,587
+2,565
86
1889...........................
+250,932
+2,952
85
1888..........................
+85,810
+975
1887.........................
—
61,718
—
686
1886..........................
87
-2,730
—1
3
1885...........................
60
+125,000
+3,083
1884...........................
We have also received separately by cable the figures of takings, consumption, &c., for the last three
months of the calendar year 1902. Those three

The foregoing shows that the weekly consumption
is now 159,000 bales of 600 pounds each, against 158,000 bales of like weights at the correspon ding time
last year. The total spinners’ stocks in Great Britain
and the Continent have increased 257,000 bales
during the month, and are now 259,000 bales more
than at the same date last season.
The cable also furnishes us with complete details of
Mr. Ellison's estimates of imports, consumption, etc.,
for the full twelve months ending October 1 1903.
So far as American cotton is concerned, the results
are based on a crop of 11,250,000 bales. From all
countries the aggregate imports for the twelve months
are placed at 8,605,000 bales of ordinary weights.
From America he expects 6,685,000 bales; E ist In­
dies, 850,000 bales; Egypt, 720,000 bales, and Brazil,
months are the first quarter of the current season, West Indies, Smyrna, &c., 350,000 bales. Presented
beginning with October 1 1902 j and form the basis in tabular form the estimate in ordinary bales is as
for Mr. Ellison's estimates for the whole year (ending follows, comparison being made with revised results
with October 1 1903), which are given farther below. for 1901-02 and 1900-01.
IMPORTS AND DBLIYERIES OCTOBER 1 TO SEPTEMBER 30.
For those three months spinners’ takings in actual
Estimated. Actual.
Actual.
1902-03.
1901-02.
1900-01.
bales and pounds have been as follows :
American...................................... Bales.6,685,000 6,431,000 6,384,000
Great Britain.

Oct. 1 to Jan. 1.

For 1902.
Takings by spinners...bales
Average weight of bales.lbs
Takings in pounds...............

For 1901.
Takings by spinners... bale*
Average weight of bales.lbs
Takings In fou n ds...............

Total.

O on tin en t.

East Indian.............................................
Egyptian.................................................
Sundries...................................................

850.000
720,000
350,000

755,000
75",000
368,000

866,000
043,000
153,000

1,034,000 1,430,000 2,464,000
505
489
495 8
522,170,000 699,370,000 1,221,540,000

Total im ported................................. 8,605,000 8,304,000 8,016.000
303,000
195,000
f American. 330,000
56.000
88,000
Port stocks In Europe J E. Indian.
52,000
34.000
30.000
Sept. 30 1902................ j Egyptian.
12,000
17.000
35.000
I Sundries..
46,000

925,000 1,279,000 2 ,201,000
507
501
503-5
468,975,000 640,779,0001,109,754 000

428,000
280,000
Total stook 8 ept. 30 1902............. 440,000
Total supply 12 months ending
Oct. 1 1 9 03...................................9,04 5,000 8.732.000 8.326.000
American..... 6,423,000 6.404.000 6.276.000
159.000
848.000
East Indian. 850,000
772.000
639.000
357.000
135.000
Egyptian___ 7v0,000
8.292.000 7.898.000
Sundries....... 350,000
440.000
428.000
Total deliveries to 8 ept. 30.1903.8,343,000
Leaving stocks at ports Sept. 30 1903 702,000

According to the above, the average weight of the
deliveries in Great Britain is 505 pounds per bale this
season, against 507 pounds during the same time last
season.
The Continental deliveries average 489
pounds, against 501 pounds last year, and for the
Whole of Earope the deliveries average 495’8 pounds
per bale, against 503*5 pounds last season. Oar dis­
patch also gives the full movement for the three
months this year and last vearin bales of 600 pounds.
1902.
Oct. 1 to Jan. 1.
Bales o f 500 lbs. each,
Great
Oonti­
0 0 0 * omitted.
Britain. nent.

(

With regard to consumption, Mr. Ellison estimates
that the average weekly rate for the remainder of the
season will be slightly less than the current estimate,
but that the consumption for the whole year will be
166,000 bales of 600 lbs. each in excess of 1901-02.

1901.
19014)2.
8,292,000

1900-01.
7,898,000

425,000

8,109.000
353,000

7,827,000
371,000

Total supply............................... 8,578,000
□sumption, 52 weeks................. 8,203,000

8.462.000
8.037.000

8.198.000
7.845.000

Mill stocks 8ept.30,end of year 375,000

425,000

353,000

1902-03.
Total.

Great
Oonti­ Total
Britain. nent.

Spinners’ stook Oot 1.
Takings In O otober...

55,
257,

370,
381,

425.
638,

36,
237,

317,
321,

353,
558,

Total supply........
Oonsump. Oot., 4 wks.

312,
260,

751,
376,

1,063,
636,

273,
240,

638,
368,

911,
608,

Bpinners’ stock Nov. 1
Takings in November.

52,
808,

375,
445,

427,
753,

33,
296,

270,
353,

303,
649,

Total supply........
Oonsump. Nov., 4 wks.

360,
260,

820,
376,

1,180,
636,

329,
264,

623
368,

952,
632

Spinners’ stock Dec. 1
Takings in Deoember.

100,
479,

444,
573,

544,
1,052,

65,
405,

855,
607,

Total supply........
Oonsump. Deo., 5 wks.

579,
325,

1,017,
470,

1,598,
795,

470,
330

862,
460,

1,332,
790

Spinners’ stook Jan. 1

254

547.

801.

140.

402,

542.

1902.
Great
Sritatn

1901.

Oonti­
nent.

Total.

Great
Gritaii

Conti­
nent.

Vote

Spinners’ stook Oot. 1
55,
Takings to Jan. 1 ___ 1,041,

370,
1,399,

423,
2,443,

36.
938,

317
1,281,

853
2,219,

Supply......................... 1,099,
Oonsumpt’n, 13 weeks
845

1,769,

2 ,868 ,

1 .2 2 2 ,

2,067,

974,
834,

1,598, 2,572
’
1,196, -,030

547,

801,

140

Spinners’ stook Jan. 1
Weekly Consumption.
000 * omitted.
In Ootober.............
In November.........
In December

254

402,

FEM8

ABOUT

BANK8,

BANKERS

AND

TRU8T

C O ’8

—The p u b lic sales o f bank stocks this w eek a g g reg ate 402
hares, o f w h ich 322 shares w ere sold at au ction and 80 at
320, \
he Stock E xchange.
The transactions in trust com pan y
1.0 1 2 , 1
tocks reached a total o f 125 shares. Stock o f the Corn

Tne comparison for the three months ending Da
cembar 31 1902 with the same months of last year is
made more striking by bringing together the results
up to this time for the two years.
Oet 1 to Jan. 1.
Bales o / 500 lbs. each,
000 * omitted.

4

542,

,

g
9

was made. In the “ cu rb ” m arket the bid price fo r Leather
M anufacturers’ N ational Bank stock advanced 30 points to
310, but no sales were m ade.
Shares.
B a n k s — New York.
Price.
52 Central National Bank............... 180
5 ' Chatham National Bank.......... 360 *
20 Commeroe, Nat Bank o f ........... 325-335
25 Corn Exchange B a n k ............... 447
40 Fourth National Bank ............... 235
100 Meohanlos’ & Traders’ Bank... 165
20 Mercantile National Bank_ _ 350-3521
_
*
5 Mutual Ba'<k ........................... 3051
*
*80 Phenix National Bank.............. 125
10 Varlok Bank ................................ 210
35
70
10
10

1'RUST COMPANIES—N. Y,

Atlantic Trust C o....................... 355-3651
*
Bowling Qreen Trust C o ....... 235-243
Central Realty B A T . C o........ 626
Merchants’ Trustj C o.................. 327

previous tale.

Last
Jan.
Jan.
Jan.
Nov.
Deo.
Mar.
Jan.
Jan.
Aug.
Nov.

19031903—
1903—
1902—
1902—
19 J2—
1903—
1902—
1902—
1902-

1791*
330
335
423
2301*
1301*
355>*
215»*
13 47*
205

Jan.
Nov.
Nov.
Jan.

1903—
1902—
1902—
1903—

365
240
695
3341*

* Sold at the Stook Exohange.
65,
65,
65.

94,
94.
94.

159,
159.
159.

60.
66 ,
66,

92,
92,
92.

152,
158,
158.

—The volu m e o f business passing through the C in cin n ati
Clearing H ouse has increased to such an extent during the
past year or tw o that inquiries as jto how the figures are

244

THE

CHRONICLE

made up are constantly being received by the officials in
charge. Mr. Dable, the Manager, requests [us to announce
that the figures given out for publication, daily, weekly,
monthly and annually, represent only the aggregate o f the
city items actually brought by the banks to the Clearing
House and that they have been so made up for more than
twenty years. The amount taken from the Clearing House
is not considered.
—The proposed entry o f a new institution into the trust
company field in this city was announced yesterday. Nearly
every large bank of the ^metropolis is represented on the
board of this latest organization, the Bankers’ Trust Com­
pany. The obj act is to secure a share of the business which has
recently passed from the banks to the trust companies. The
new institution is to be capitalized at §1,000,000 and to have
a surplus of $500,000. None o f the stock is to be offered to
the public, it having been all taken by those directly inter­
ested. Possession of the old quarters o f the Liberty National
Bank at 143 Liberty St. has been obtained and w ill be
immediately remodeled. Mr. Edmund C, Converse, who will
still retain his position as President o f the Liberty National
has been chosen as the head of the new trust company, and
Mr. J. F. Thompson has relinquished the cashiership o f the
Seaboard Natioual to become Vice-President o f the new con­
cern, of which he w ill be the active manager.
Mr. Thompson is well and favorably known by bankers
from one end of the country to the other. He has been a
banker practically all his life. Previous to his appointment
as Chief Clerk in the Seaboard National in 1884, he had six
years’ banking experience in Western New Y ork and Penn­
sylvania, at one time being Cashier. His rise in the Seaboard
was very rapid; in 1887 he was appointed Assistant Cashier,
and in 1891 was advanced to the cashiership, making in all
nineteen years’ connection with this very progressive institu­
tion.
The strength o f jthe board o f directors o f the Bankers’
Trust Company is displayed in the follow in g list o f mem­
bers : James G. Cannon, Vice-President o f the Fourth Na­
tional Bank; Edmund C. Converse; James A. Blair, o f
Messrs. Blair & Co ; Henry P. Davison, Vice-President o f
the First National Bank; ^Granville W . Garth, President of
the Mechanics’ National Bank; A. B. Hepburn, Vice-Presi­
dent of the Chase National Bank; W illiam Logan, Cashier of
the Hanover National Bank; Gates W . McGarrah, President
o f the Leather Manufacturers’ National Bank; W illiam H.
Porter, Vice-President of the Chemical National Bank;
George W . Perkins, of J. P. Morgan & Co.; J. F. Thompson;
A lbert H. W iggin, Vice-President of the National Park
Bank; Samuel W oolverton, President o f the Gallatin Na­
tional Bank, and E. F. C. Young, President of the[First Na­
tional Bank of Jersey City.

[V o l . LXXVI.

—Mr. Charles N. Taintor has been eleoted President o f the
Riverside Bank, at 903 Eighth Avenue, this city, to succeed
Mr. Henry C. Copeland, resigned. Mr. Copeland remains
with the bank as a director.
—The Bank o f the Metropolis o f this city, which in June
last filed a notice o f increase in its capital from $800,000 to
$1,000,000, has listed the $700,000 additional stock on the New
Y ork Stock Exchange.
—The Knickerbocker Trust Company is distributing an
attractive little pamphlet entitled, “ When Banks Began—A
Few Facts and a Few Fancies.” It is profusely illustrated
with half-tone cuts o f the early banking buildings, bank
notes and checks in this country, as well as a few modern
structures. The earliest banking place on record proves to
be the bank of Captain Kidd, “ a typical American banking
institution o f the year 1695.” The first bank in Am erica was
the Bank o f North America in Philadelphia, founded in
1781. The Bank of New York was founded in 1784, the Bank
of the Manhattan Company in 1799. Cuts are also given of
the National Newark Banking Co. o f Newark, N. J ., estab­
lished in 1804, and the Massachusetts National Bank, the
latter founded in the same year as the Bank of New York,
namely 1784. The modern bank buildings shown commence
with the handsome new home now under construction for
the Knickerbocker Trust Company at Fifth Avenue and 34th
Street. Then follow views o f the new buildings o f the
Corn Exchange Bank, Long Island Loan & Trust Co. of
Brooklyn, National Park Bank, National Bank o f Commerce,
Hanover National Bank, Liberty National Bank and the
National City Bank of Brooklyn, together with the New
Y ork Stock Exchange and the New Y ork Clearing House
and the Chase National Bank buildings.
—Mr. Charles L. Adrian, w ho was form erly Cashier o f the
Gorman Exchange Bank at 330 Bowery, has been chosen
President to succeed Mr. M. J. Adrian, retired. Mr. Ed*
mund F. Swanberg is the new Cashier o f the bank.
—Messrs. Lawrence Barnum & Co., bankers, who have
recently moved into their handsom e new banking room s at
Nos. 37 and 29 Pine Street, this city, have this past week
opened a branch office at No. 15 Westminster Street, P rovi­
dence, R. I. Mr, W . P. W . Veazie is the resident manager.
—A t the meeting o f the Council o f Administration o f the
New Y ork State Bankers’ Association, Saratoga was selected
as the present year’s meeting place, the convention to be
held early in September. The proposition to consolidate the
banks and trust companies into one association was referred
to the various groupp. The Council also passed resolutions
requesting the repeal by Congress o f the present bankruptcy
law and the passage o f a law giving a more elastic currency.

—The stockholders o f the Fidelity Trust Company o f N ew­
ark on Monday approved the proposed increase in the capi­
tal from $1,500,000 to $2,000,000. The company’s growing
business makes additional capital imperative. The inter­
change of stock o f this company and the Prudential Insur­
ance Company, which had originally been planned and
—The details of the organization o f the Western National
finally abandoned (C hronicle , January 8), will not, of
Bank of the United States o f this city were completed at a
course, be made. The injunction issued some weeks ago by
meeting on Thursday. This institution, as already stated in
Vice-Chancellor Stevenson did not restrict the Fidelity from
these columns, is the result o f the union of the Western Na­
issuing new capital.
tional Bank and the National Bank o f the United States.
—Messrs. E. F. C. Young, President o f the First National
Mr. Valentine P. Snyder, the well-known President o f the
Western, was elected at this week’s meeting as President o f Bank of Jersey City, and J. E. Hulshizer, President o f the
the new bank. Others w ho w ill serve as officers o f the New Jersey Title Guaranty & Trust Company, are inter­
Western National Bank o f the United States are Richard A. ested in the form ation o f a new Jersey City trust company.
McCurdy (of the Mutual L ife Insurance Co.), James H. Hyde This latest institution will be known as the Pavonia Trust
(of the Equitable L fe A-surance Society), Thomas F. Ryan Company, and will locate for the present at 492 G rove
(of the Morton Trust Co.) and Henry A. Smith (form erly Street, opening about March 1, Capital has been made
Vioe-President of the Western National), all o f whom have $100,000 and surplus $25,000, the shares o f a par value of $100
been chosen Vice-Presidents. Charles L, Robinson has been each.
—Mr. N. E. Sisson succeeds Mr. Cyrus S, Merrill as Viceappointed Cashier and 0<iver I. Pilat and Clarence F oote are
President o f the First National Bank of Albany, N. Y .
Assistant Cashiers.

—Mr. Caldwell Hardy, President o f the Norfolk National
Bank of N orfolk, Va., also President o f the American
Bankers’ Association, was in the city on business during the
past week.

—Mr. Arthur Turnbull, who recently resigned as VicePresident of the United States Mortgage & Trust Company
of this city to become a member of the firm o f Post & Flagg,
was this week made a director o f the trust company. Mr.
W illiam B. Boulton has also been elected to its board.

—The Elmira Trust Company, Elmira, N. Y ., has filed a
certificate o f change o f name to the Chemung Canal Trust
Company.
—Mr. John W . Farwell has been elected to serve as an ad­
ditional Vice-President o f the Atlas National Bank o f Boston,

—The depositors of the Central National Bank of Boston
—Mr. Washington A. Flagg, o f Messrs. Post & Flagg, this
city, died at his residence on Wednesday. Mr. Flagg, who received on the 26th (M onday) a dividend o f 65 per cent, ag­
was a member of the N ew York Stock Exchange, was 43 gregating $1,026,556. The bank failed less than three months
ago—November 14.
years of age.

J a n u a r y 31, 1903.J

THE

CHRONICLE.

—On February 10 application w ill be made for a charter
for the Central Trust & Savings Company o f Philadelphia.
The concern will have a capital of $500,000 and surplus of
$100,000, and will engage in business about the first o f March
at Fourth and Market streets. There is no connection, it is
announced, between this company and the Central Savings
Fund, Trust and Safe Deposit Company, whioh was allied
with the Keystone Bank, and w hich went out o f business
some years ago.
—A new office (Vice-President) has been created in the
Franklin National Bank o f Philadelphia, and Mr. J. R. Me
Allister, who continues as Cashier, has been elected to fill
it. Mr. John F. Dryden is a new member o f the Franklin’s
board.
—Mr. John R. Cavanagh who was instrumental in organ­
izing the Public Trust Company o f Pittsburgh, declined
re-election as President at the reoent meeting, and was given
the office of Vice-President. In future Mr. Cavanagh will
take charge of the real estate and corporation interests o f the
company. Mr. George A. Chalfant has been chosen to fill
the vacancy in the President’s office. The companyjhas been
in operation since the 1st of October. It has a capital o f
$300,000.
—The organizers o f the Washington National Bank of
Pittsburgh have made the capital $200,000, not $250,000 as
previously reported.
—The board of the Marine National Bank of] Pittsburgh
has elected Vice-President George C. Burgwln to the presi­
dency to succeed Capt. W illiam W . O’Neil, who died on
December 26. Mr. Thomas J. W ood replaces Mr. Burgwin
as Vice-President.
—It is stated that Robert Monroe, H. A. Lappe and C. H.
E. Sucoop, who were interested in the organization o f the
Franklin Savings & Trust Comnany o f Pittsburgh, have
withdrawn from that institution and are organizing the
Central Savings & Trust Company o f Pittsburgh. This
latter concern will make its home in the Lawrenceville dis­
trict, having purchased property at Penn Avenue and 21st
Street, which w ill be immediately remodeled for its purposes.
— “ Cleveland Finance” of the 24th inst. states that the
time lim it for turning in the stock o f the Tradesmen’s Na­
tional Bank of Pittsburgh has expired and the Columbia
National of that city now owns praotically all the shades.
This marks, it is further stated, the completion o f the plan
whereby the tw o institutions are consolidated. The stock
was taken over on a basis of $200 per $100 share.
—The offices of Secretary and Treasurer o f the Standard
Security Trust Company of Pittsburgh have been consoli­
dated and Mr. James T. W achob, form erly Treasurer, now
acts in both capacities.
—The stock o f the People’s Savings, Safe Deposit & Trust
Company o f Pittsburgh (w hich is to be the name, as already
noted, o f the institution formed by the consolidation o f the
Safe Deposit & Trust Company and the People’s Savings
Bank of Pittsburgh) is to be delivered to the shareholders of
the tw o institutions on an actual cash basis—that is, their
stock will be taken over at the cash value in exchange for
stock of the new company at $350 psr share. The proposed
institution will have 20,000 shares (of $100 each), o f whioh
5,000 shares will be allotted to the stockholders o f the Safe
Deposit & Trust, 3,000 shares to the stockholders o f the
People’s Savings Bank, and 8,000 shares for subscription by
the stockholders of both institutions, leaving 4,000 shares for
public subscription. These latter will be sold at considerably
above $350. It is expected that Mr. D. McK. Lloyd (P resi­
dent of the People’s Savings Bank and Second V ice-President
o f the Safe Deposit & Trust) will become President o f the
consolidated institution, and that the other offi jers will be
A . E. W. Painter and Thomas W ightman, Vice-Presidents;
Edward E. Duff, Vice-President and Treasurer ; W illiam T.
Howe, Vice-President and Secretary.
—The Union Trust Company o f Pittsburgh has purchased
a large interest in the title department o f the Fidelity Title
& Trust Company of Pittsburgh, and the tw o companies
jointly have organized therefrom the Union Fidelity Title
Insurance Company with $250,000 capital, each owning onehalf of the stock. The Fidelity’s banking and trust business,
as well as that of the Union Trust Company, will be carried
on as heretofore, the title feature merely ot the first named
company having been made separate and distinct.

245

—The officers o f the W est End Savings Bank o f Pittsburgh
have applied for a charter for the W est End Savings & Trust
Company.
— On the 15th inst. the first payment o f $50 per share was
made on the new stock o f the United States National Bank
o f Pittsburgh. The increase was voted by the stockholders
in October (previous references to which have appeared in
these columns) and was from $200,000 to $500,000. The
shares having been sold at $140 each, two more payments
are yet to be made—$50 per share April 15 and $10 per share
July 1.
—Mr. L. S. Baumgardner has been elected President o f the
Central Savings Bank Company o f Toledo to succeed Mr. F.
E. Southard, resigned. Mr. Southard still remains with the
Bank in the capacity o f First Vice-President. Mr. A. B.
Tillinghast is now Second Vice-President and Mr. R. A.
Bartley Third Vice-President. Mr. E. F. Rowley has been
re elected Cashier.
—The Mercantile Safe Deposit & Trust Company has been
organized in Toledo. Interests identified with the Ohio Sav­
ings Bank & Trust Company o f Toledo are prominently con­
nected with the new company, which has a capital o f $50,000,
this amount to be increased, however, to $300,0U0. In the
election o f officers o f the Mercantile. Mr. C. M. Spitzer was
chosen President; E. W . Newton, Vice-President, and P. T.
Craig, Secretary and Treasurer.
—The American SaviDgs Bank Company of Toledo, having
completed the various details connected with its organiza­
tion, opened on the 19th inst. at 240 Superior Street. As be­
fore mentioned in these columns, the capital is $200,000.
—A transfer o f about $26,000 o f the $50,000 capital of the
American Savings Bank Company o f Columbus, Ohio, re­
cently occurred, the largest block of which was purchased
by Ohio Trust Company (Columbus) interests. Mr. John L.
Vance Jr., Secretary and Treasurer o f the latter, has been
made a director o f the bank, succeeding Mr. Eli M. W est.
Another newcomer in the American Savings Bank is Mr. J.
Nick Koerner, who has been appointed Manager. In assum­
ing his new duties, it is expected that Mr. Koerner w ill
shortly retire from his present office o f deputy director o f ac­
counts in the M ayor’s office.
—At the recent annual meeting of the City National Bank
o f Dayton, Ohio, Mr. Thomas De Armon was elected Presi­
dent to succeed the late Mr. W . P..Callahan. Mr. W . B. Gebhart was made Vice-President and Cashier and Mr. Clarence
Kiefer was elected Assistant Cashier.
__When Mr. Charles L. Farrell retires on February 1 as
Assistant Cashier o f the Capital National Bank o f Indian­
apolis he will be succeeded by Mr. Robert M. Churchman.
As noted herein last week, Mr. Farrell has been elected VicePresident o f the Fort Dearborn National Bank o f Chicago.
__Mr. Stoughton A. Fletcher, formerly Assistant Cashier
o f the Fletcher National Bank o f Indianapolis, has been
elected Vice-President. Mr. Stoughton J. Fletcher has been
re-elected President and Charles Latham, Cashier.
—The stockholders o f the Michigan Savings Bank o f D e­
troit, Mich., at their annual meeting on the 13th inst., ap­
proved o f the increase in capital from $150,000 to $250,000.
— Mr. W illiam Reid was recently chosen as President o f
the Central Savings Bank o f Detroit, M ich., to succeed Mr.
W illiam A. Pungs.
— A t the election of officers o f the Union Leage Club of
Chicago, on Monday evening, the follow ing local bankers
were among the successful candidates: W alter H. W ilson
of Otis, W ilson & Co. was chosen Vice-President; G eorge F.
Orde, Cashier o f the Northern Trust Company Bank and
Treasurer o f the American Bankers’ Association, was made
Treasurer, and Secretary John C. Neely of the Corn E x­
change National Bank became a member of the Political
Action Committee.
—Thomas L ow ry o f Minneapolis, the Twin City street
railroad magnate, and familiarly known on W all Street and
the country over as genial “ Tom L ow ry,” announces his
candidacy for United States Senator from Minnesota, to
succeed Senator Moses C. Clapp at the expiration o f his
term. Mr. Low ry was one of the founders, and from the
first has been Vice-President, of the Farmers’ & Mechanics’
Savings Bank of Minneapolis, the largest institution o f its
kind in the Northwest.

246

TflK

CHRONICLE

— Besides electin g H. C. V ern on and G. B. Sm ith as A s­
sistant Cashiers, the C om m ercial National Bank o f C hicago
has added M r. H.^E.^Smith^to its list o f officers, appointing
him A uditor.
— The January announcem ent circu la r o f the B ond De­
partm ent o f the Merchants’ Loan & T rust Com pany o f C h i­
ca g o is ju st at band. It is convenient in fo rm and neat in
appearance, and offers to carefu l investors m any h un dred
thousand dollars’ w orth jo f seleotedjrailroad, corporation and
m unicipal securities.
— The V irgin ia-C arolin a T rust C om pany o f N orfolk , V a .,
opened fo r business in its offices at Main and Com m erce
streets on January 2. : The com pany w as chartered in M arch
last and its organization perfected in O ctober. The author­
ized capitaffis #1,000,000, w ith $350,000 paid in. A general
trust and banking business is to be done b y the com pan y.
T he officers are^Mr. W.&W. Mess, President; W . D. Pender,
V ice-P resid en t and Counsel, and G eorge J. T w ohy Secretary
and Treasurer.
— A t the e lection jof officers o f the L ouisville (K y .) C lear­
in g H ouse A ssociation, M r. John H . Leathers was chosen
P residen t to succeed| M r. P. V ig lin i; M r. Sam uel Casseday
was appointed V ice-P resident and Mr. Ieham Bridges,
M anager o f the A sssociation since 1894 was again re- elected
to that position.
— T he execu tive cou n cil o f the G eorgia Bankers’ A ssocia­
tion has decided to h old this year’s annual m eetin g in
A tlan ta on June 17. L ast year’s session was held in Savannah
jo in tly w ith the V irgin ia and N orth C arolina associations.
— The Memphis T rust C om pany o f M emphis, T enn , has
filed an am endm ent to its oharter in creasing its capital to
$700,000. T he com pany, it w ill be recalled, recen tly absorbed
the T itle Guarantee & T rust C om pany o f M em phis.
— A t the annual m eeting o f the directors o f the M erch an ts
N ational Bank o f H ouston, Texas, Mr. John J. G annon was
m ade President. Mr. Gannon had previously been Caehier,
in w h ich latter position he has been succeeded b y M r. G . M.
H arcou rt. F orm er President G eo rg e W . B rackenridge has
been appointed a V ice-P residen t and M r. W . H . H u rley has
been elected A ssistant Cashier. Mr. T. W isto r B row n was
re-elected a V ice-P resident.
—•The C ontinental Savings & Loan C om pany is organizing
in Dallas, Texas, w ith $250,000 capital. The com pan y w ill
loca te on M ain Street, and w ill con d u ct a general loan and
savings bank business.
— Mr. J. W . Castles, President o f the H ibernia Bank &
T rust C om pany o f N ew Orleans, L a ., is in the oity on a bu si­
ness trip.
— Mr. J. C. M orris, w h o besides bein g w ell advanced in
years, has n ot en joyed p articularly g ood health d u rin g the
past few years, has decided to retire as P resident o f the
Canal Bank o f N ew Orleans, La. Mr. E dw ard T o b y , n ow
V ice-P resident, and fo r m any years p reviou sly Cashier, w ill
succeed to the P residency.
— The P eople’s B ank[of Shreveport, L a., has been organized
w ith $100,000 capital, divided in to shares o f $100 each. U n ­
til the officers have regularly been elected, Mr. Joh n M
T u ck er w ill act as President.
— Senator-elect James P. Clarke has been appointed re­
ceiver o f the Bank o f L ittle R o ck , L ittle R o ck , A rk ., w h ich
suspended on the 20th inst.
— The first annual dinner o f the Spokane (W a sh .) Clearing
H ouse A ssociation was held on the 24th inst. at the H otel
Spokane. In addition to fou r representatives fro m each o f t i e
banks, there w ere also present fo u r o u t-o f-to w n bankers.

[V ol. LXXVI.

B n c l l i h F i n a n c i a l M a r H e t c —P e r G a b le .

The d a ily clo sin g q u ota tion s fo r secu rities, e t c ., a t L ondon
are rep orted b y oa b le as fo llo w s fo r th e w eek en d in g Jan. 89:
LONDON.

Sat.

M on.

21%
Silver, per ounoe....... d. 21%
Console.,new.2% p.cts. 936,6 93%
For aooount............... 933s
93&ie
f r ’oh rentes(in Paris) f r, 10009 99-92%
W|THlUOU *■• • •■ m m ■■■■■>
mm

Anaconda Mining........
Atoh. Top. A Santa Fe..
Preferred................... .
Baltimore A O h io........
Preferred....................
Canadian P a c ific .......
Chesapeake & Ohio___
Ohioa. Great W estern..
Ohio. Mil. A St. P an l...
Den. & Rio G r.,oom .,..
Do
do Preferred.
trie, com m on .......... .
1st preferred............ .
2d preferred...............
Illinois Central.............
Louisville A Nashville..
Mexican Central..........
Mo. Kan. A T ex .,com ..
Preferred...............
National RR. of M ex...
Preferred....................
K. Y. Cent’l A Hudson..
I . Y. Ontario A West’n
Norfolk & Western.......
Do
do
pref.
Pennsylvania..... ..........
'Phlla. A Read ...........
•Phlla. A Read.,1st pref.
'Phlla. & Read.,2d pref.
3onthem P aolnc... . . . . .
South’n Railway, com.
Preferred.................
Union Pacific...............
Preferred....................
0. B. Steel Corp., com ..
Do
do
pref.

Wabash............ .

Do
preferred.......
Do
Deb. “ B” ........
* Prloe per share.

T~

89%
102
103%
98%
139
53%
28
182%
40%
90%
40%
7278
58%
151%
ISO
25%
28
62%
19%
33%
155%
34
76%
95%
78%
31*8

44%

38%

65%
35%
97%
103%
96%
37%

89%
29%
45%
78%

5~
89%
102
103
98
139%
53%
27%
181%
40%
90%
41%
73%
58%
151%
130%
25%
28%
61%
19%
37%
156
31
76%
95%
78%
31*8
44%
38%
66%
86*e

97%
104%
96%
38
89%
29%
45%
78%

fu n .

Wtd.

21131#
933,6
93%
99-90
~

90%
102%
104*8
97%
140%
54
28%
183
41
90%
42%
73%
59%
152
131%
26%
29
62%
19%
38
155%
34%
76%
95%
78%
32
44%
88%

67%

5%
89%
102%
104%
98
139%
54
28%
182%
41
90%
41%
73%
59%
152%
132
25%
29
62%
19%
....

155%
34%
76%
95%
78%
31%
44%
38%
66%

37

36%

97%
104%
96%
38%
89%
30
46%
78

Thurs

21%
211118
933,6 93%
933,, 93%
1000O 99-95

97%

104*8
97%
38%
89%
30
45%
78%

5%
90%
102
103%
98
140%
53%
28
183%
41
90%
42%
x72%
69
x l5 0

x ia o

25%
29
61%
19
37%
165%
34%

76%

95%

Sri.

2113!,
98%
93%
99 90

5%

90
102%
104
98
140%
53%
28
182%
41
90%
42%
74
61
149%
129%
26
29
62%
19
37%
155%
84%
76%
95%
78%

78%

31%
44%
38%

31%
44%
38%

36%
98
104%
97%

36%
97%
104%
97
38%
89%
30
46%
78%

66%

38%

90
30
45%
78

66%

C o m m e r c i a l a m t IX X iscclL itxccin s IQzxos
D I V I D E N D S .
Nam * o} Company.

When
Otnl Payablt

R a ilr o a d s (S t e a m '.
3
Chic. St. P aul M inn. & Omaha, c o m ...
3i*
do
do
do
do
p r e f ..
R om e W atertow n & O gd’b ’ g, gu. (qu.)
1>»
U nion Pacific, com. and p ref..................
2
S tr e e t R a ilw a y s .
2
Bingham ton (N. Y .) B y ...........................
Boston E l e v a t e d . ...........................
3
3
H arrisburg (Pa.) T ra ction ......................
Tuscarawas Trac., N ew Phlla., O. (q u .)
%
B a n k s.
A stor National (qnar.) ...................... .
6
L lnooln Nationai"(quar.)......................... 3
Seventeenth Ward "(B rook lyn )..............
3
Tw enty-third W ard...................................
2%
T ru st C om p an ies.
Farm ers’ Loan < T rust (qnar.)............. 10
fc
K ings County, B rooklyn (qnar.)............
2H»
Nassau, B rooklyn......................................
3
M IsooU an eoas.
A m erican C h id e, com. (m th ly)..............
1
Casein Co., pref. (qnar.)....... ...................
2
1
Central Firew orks, com ..........................
Central Oil (qnar.)..*-................................
Cleve. & Sandusky B rew ., pref. (q u .)..
N ew Central Coal".....................................
N ew England Telep. & T eleg. (qnar.).
Omaha W ater, 1st p ret.............................
do
do 2d p ref..............................
P ressed Steel Car, com. (q n a r .)............
do
do
do (e x t r a )............
do
do
pref. (quar.).............
U. S. B obbin & Shuttle, com (q n ar.)..
do
do
pref. (q n a r.)..
W estingh.E leo. & M fg .asst’ g stk.(qu.)

Feb
Feb
Feb
Apr

19
19
16
1

Books Closed.
(B a y s Inelusiwt.)

H olders of rec. F eb 5*
Holders of rec. Feb 5*
Feb 1
to
to
Feb 26
Mar 23

F
Mar 8 Fflh Q i
Feb 16 Feb 1
2 Jan 28
Feb
Jan 20 Jan 11

to
to
to
to

Feb 16
Feb 1
Jan 20

Feb
Feb
Feb
Feb

1
2 Feb 1
2 [Jan 21
2 Jan 29

to
to
to

F eb
F eb

i
1

Feb
Feb
Feb

1 [Jan 21
2 Jan 26
2 Jan 29

to
to
to

Feb
F eb
F eb

1
1
2

to
to
to
to

Feb 10
F eb 9

Feb
Feb
Feb
Feb
1 Feb
1% Feb
2 Mar
I'd Feb
2*5 Feb
1 Feb
1 Feb
> Feb
4
l s4 Feb
$1 50 Feb
$1 75 Feb
134 Feb

10
10
10
10
2
16
2
16
10
10

Feb
Feb
Feb

6
1

4
4

H olders of reo. F eb 5
to
M ar 2
F eb 26
to
Feb 2
F eb 14
Holders of rec. Jan 31
H olders of reo. Jan 31
24 Feb 3
Feb 23
to
24 Feb 3
to
Feb 23
24 iFeb 8
to
Feb 23
2 Jan 21
F eb 2
to
2 Jan 21
Feb 2
to
16 Feb 3
to
Feb 16

* Transfer hooks not d osed .

A u ction S ales— By Messrs. A drian H. M uller & Son :
Stocks.
300 Utloa ChenaDgo & Susq.
Val. RR . guar... 160 %-162%
18 Am TypeFound Co.oom. 4S%
10 Title Guar & Trust C o.530
117 Adirondack Land & Imp.
Co.......... ... #25 ea..$145 lot
70 Bowling Gr’n Tr Co.235-243
40 Fourth Nat. Bank.......... 235
600 N. Am. Lum A Pulp Co. 9
50 North River Ins. Co.......175
10 central Realty Bond &
Trust Co......................... 626
10 Broadway Safe Dep. Co. 99%
20 Nat. Bank of C om ..325 335
10 Varlok Bank.................... 210
25 Home Ins. Co...................350
15 N. Y. & N J. Telep. Co..165
25 Corn Exchange Bank...447
52 Central National Bank..180
50 Chatham Nat’ l Bank___360%
26 Saratoga Aseoo. for the
Improve’ ! of the Breed
of H orses...................... 150

Stocks.
50 Internat’l Bank Corp’n.203
10 Realty Association.......122
5 Mutual Bank...................305%
10 Merchants’ Trust C o_ 327
_
10 Tefft-Weller Co., pref_
_ 92%
100 Meohanios’ < Trad. B k..l65
fe
20 Mercantile Nat. B k.350 352%
35 Atlantio Trust C o,..355-355%
$45 Am Type Founders Co.,
com., scrip............................ 35
$ l o 8 Am Type Founders Co.
blue scrip.............................. 50

” ^ T h e P ortlan d Trust C om pany o f Oregon, w h ich is the
Bonds.
oldest tru st com pan y in that State, has published a unique
$300 Ridgefield (Conn.) Club
little book entitled “ Illustrations,” descriptive o f the special
1st 5s, 1907, MAS............ $200
$20,000 N. Am. Lum. & Pulp
interest bearing certificates o f deposit issued b y that c o m ­
Co. entitling oerts. to 1st
pany. The book, w h ich is very attra ctively printed, is in ­
6 s of the United Lumber
Co., Ltd................................. 39
tended for distribution to bankers, capitalists and investors.
$2,OCO Chateaugay Ore & Ir.
Co. 1st 4 8, 1942, J&J,guar. 99%
Som e o f the “ illu stra tion s” are very interesting, as they
$15,000 State of Georgia
show h ow the certificates, w h ich are payable on ten, th irty
3%s, 1927, JA J.................... 105
or ninety days’ call, at rates o f interest determ ined b y the
B y Messrs. R ich a rd V , H a rn ett & C o.:
length o f the call, can be used w ith advantage in con nection
Bond.
Stock.
$15,000 Graphite Metal Co.,
1,000 Atlantic Brass Co.,comw ith m any .varied financial transactions.
le ts.................... ................. $1,500
Y fflSmon................................ $200
M

T H E

J a x u a r y 81, 1903.]

C H R O N IC L E

New York City Clearing House Banks.--Statem ent of
condition for the week ending Jan. 24, based on average of
daily results. W e o m it tw o c ip h e r s ( 0 0 ) i n a l l cases.
BANKS.
B k. of N . Y.
M an h at. Co.
M erch a n t# ’
M e ch a n ics ’ .
A m e r i c a . .. .
P h o e n ix . . .
C i t y .............
C h em ica l . .
M e rch . E x .
G a lla t in ___
B u t . < D ro v
fe
M ech.dfcTra.
G r e e n w ic h .
L e a th .M fre .
7 th N a t . . . .
A m e r .E x c h .
C o m m e r c e ..
B ro a d w a y .
M e r c a n tile
P a c ifi c ..........
C h ath am . . .
P e o p le ’ s . . .
N . A m e r ic a
H anover ...
I r v i n g ........
C itizens* . .
N a ssa u ___
Mar.<fc F u lt.
S h oe <fcLthr.
C orn E x c h .
O rien ta l . . .
Im p . & T ra d
P a rk ...........
E a s t R iv e r
F o u r th ___
C e n t r a l ___
S econ d . . . .
F ir s t .........
N .Y .N t .E x .
B ow ery ...
N . Y . Co .. .
G e rm a n A m
C h a se ...........
F ift h A v e . .
G erm a n E x.
G erm a n ia . .
L in c o ln ........
G a r f ie ld ___
F ift h .........
B k . o f M e t ..
W e s t S id e ..
S ea b oa rd ..
W e s t e r n ___
1 st N . E k ly n
L ib e r t y ........
N . Y .P r .E x
N e w A m s t.
A s to r .........
U n it. S tates

C a p ita l.

S u rp lu s.

S p ecie.

L oa n s.

$
2,^ 8 6 ,0 1 7 .7 3 9 .0
2,<5oo ,0
2 .310.2 2 0 .2 4 8 .0
2 .050.0
1.289.3 1 2 .348.7
2 ,000,0
2 ,000,0
2 .6 3 5 .6 1 3 .3 4 1 .0
3 .4 4 7 .2 2 1 .1 5 9 .3
1.500.0
6 .2 1 9 .0
31 7 .9
1,000,0
2 5 .0 0 0 . 0 1 5 ,3 9 4 ,5 1 2 0 ,8 6 6 ,0
300.0
7 .3 6 8 .2 2 3 .8 7 8 .0
5 .2 7 0 .0
306.9
600.0
7 .801.5
2 .119.4
1,000,0
2 .7 6 3 .9
91 ,6
300.0
3 .9 0 8 .0
367.1
700.0
1 .559.5
2 1 1 ,0
200.0
4 .8 4 3 .4
561.3
600.0
6 .4 0 9 .6
168.5
2,479,2
5 .0 0 0 . 0 3 .546.3 2 8 .6 1 2 .0
1 0 .0 0 0 . 0 7 .9 5 9 .4 7 0 ,0 4 2 ,9
6 .806.4
1 .0 0 0 . 0 1 .938.8
1 .517.7 1 4 .1 2 9 .3
1,000,0
3 .2 5 1 .5
55 4 .3
422,7
6 .062.3
1 .041.4
450.0
2 .1 3 9 .0
373.3
200.0
2 ,000,0
2 ,026,1 16.2 2 9 .8
3 .0 0 0 . 0 6.061.7 4 5 .6 9 2 .0
5 .8 4 1 .0
1 .0 0 0 . 0 1 .033.5
5 .9 1 2 .4
1 .550.0
63 2 .8
2 .7 6 1 .9
30 7 .3
500.0
6 .4 0 1 .9
1 .095.2
900.0
6 .1 6 5 .2
307.4
1 ,000,0
3 .2 2 5 .5 2 4 .6 3 1 .0
2 ,000,0
2 ,0 1 2 ,8
300.0
419.2
6.433.2 2 3 .1 6 2 .0
1 .500.0
4 .6 2 4 .8 5 0 .4 1 4 .0
2 ,000,0
1.225.5
149.0
250.0
3 .0 0 0 . 0 2 .7 8 6 .9 1 9 .3 4 0 ,6
9 .3 9 0 .0
62 2 .6
1 .0 0 0 . 0
9 .6 9 6 .0
300.0
1 .222.3
10,000,0 1 2 ,831,7 7 9 .1 3 0 .0
5 ,485,4
500.0
357.5
2 .6 3 6 .0
77 4 .3
2 5 0 .0
3 .889.2
200.0
611,2
460.1
3 .6 7 3 .9
750.0
3 .3 8 3 .9 4 0 .1 3 3 .5
1 ,000,0
1 .591.2
100.0
9 .2 2 5 .8
634.7
2 .3 7 0 .9
200,0
8 3 7 .6
3 .145.2
200,0
300.0
1 .218.8 1 0 .9 3 2 .0
6 .9 9 7 .0
1,000,0
1 .3 0 9 .9
411.2
200.0
2 .343.3
8 ,1 7 4 ,2
1 .2 8 6 .9
1,000,0
200,0
490.5
3 .1 1 8 .0
500.0
1 .2 1 4 .3 1 1 .9 3 4 .0
2 .100.0
3 ,3 3 6 ,0 3 8 .6 8 6 .6
4 .2 4 0 .0
300.0
55 0 .6
1 .805.4
8 .9 6 5 .6
1,000,0
45 3 .3
4 .0 8 5 .7
1,000,0
6 .5 9 8 .0
500.0
57 7 .6
4 .5 4 3 .0
48 5 .9
3 5 0 .0
3 .9 8 6 .4
500.0
48 8 .8

lie ­
L eg a ls. \D ep o sits s've.
P .C .
$
$
1 .5 4 4 .0 1 6 .4 2 3 .0 25*3
2 .0 6 3 .0 2 3 .6 2 6 .0 28-2
1 ,101,6 14,052,9 2 6 0
1 .998.0 1 3 .6 3 4 .0 24*9
2 ,6 1 0 ,5 2 3 .0 2 0 .5 22-6
5 .1 1 5 .0 2 3 9
3 2 7 .0
7 .3 1 1 .0 1 0 9 ,6 3 2 ,0 3 1 3
2 .6 3 1 .8 24.056.1 30*9
686.7
5 ,6 1 9 ,9 2 5 6
66 1 ,6
5 .5 3 4 .0 2 6 0
3 .6 9 1 .0 25*5
47,7
4 .1 1 0 .0 21*2
39 2 .0
1 .221.5 26*3
180,6
306.1
4 .8 2 3 .5 26*2
6 ,0 0 0 ,0 2 6 7
240.9
1 .966.0 2 1 .7 6 0 .0 2 6 0
6 .464.3 6 9 .1 4 2 .0 28*5
5 .9 2 8 .2 25*4
167.7
1 .262.9 1 4 .8 1 3 .3 25*4
432.1
3 .8 7 8 .7 17*8
86 9 .9
6 .1 0 7 .3 26*1
628.2
2 .0 7 8 .6 25*4
1 .5 4 2 .0 1 3 ,1 4 3 ,8 25*4
6 .2 6 1 .0 5 3 .8 3 0 .3 28*1
4 .9 6 2 .0 24 0
6 3 9 .0
49 1 .8
6 .6 3 0 .3 25*0
329.7
3 .2 8 5 .8 23*1
6 .760.3 26*0
7 2 0 .8
5 ,946,2 24*2
2 2 3 .0
3 .5 6 7 .0 2 9 .257.7 27*3
25 0 .3
1 .9 2 6 .0 25*7
1 .3 1 5 .0 2 0 .4 2 3 .0 24-2
5 .7 4 2 .0 6 3 .0 1 2 .0 3 0 6
187.6
1.505.7 31*4
2 .6 7 1 .0 2 2 .3 6 5 .8 3 1 0
8 9 8 .0 1 1 .4 1 3 .0 23*6
1 .482.0 1 0 .535.0 2 6 4
2 .3 4 8 .8 7 2 .2 8 6 .2 30*5
6 0 4 .0
5 .6 6 1 .6 26*5
31 8 .0
3 .0 1 0 .0 21*6
40 5 .7
4 .8 7 3 .6 24*9
2 3 4 .6
3 .5 7 2 .4 23*1
1 .879.0 4 6 .6 1 3 .8 25*6
263 .8 1 0 .189.9 25*7
9 6 8 .0
3 .6 0 8 .5 32*4
4 ,9 4 7 ,4 21*8
660 .8
1 .6 8 4 .8 1 2 .3 1 7 .0 25*1
343 .6
7.278.1 2 7 0
143,2
2 .5 6 6 .2 25*1
9 3 4 ,9
9 .6 1 7 .6 25*4
352 .0
3 .3 7 3 .0 24-5
1 .5 5 4 .0 1 4 .345.0 28*8
2 .8 4 0 .4 4 7 .4 5 0 .6 31*0
6 7 6 .0
4 .3 7 6 .0 2 5 1
7 .4 4 0 .2 24*4
32 5 .0
3 .8 0 5 .7 23*5
332,5
668.4
7 .3 4 1 .8 25*4
4 .6 6 6 .0 2 6 3
2 9 2 .0
7 4,4
3 .907.1 25*6

$
2 ,6 2 1 ,0
4 .5 7 6 .0
2 .4 9 3 .7
1 .3 9 6 .0
2 .6 0 1 .0
9 0 0 .0
2 7 .0 8 5 .0
4 .805.5
855 .2
882 .2
868 ,2
4 8 0 .0
141.3
9 5 7 .8
1 .3 6 1 .6
3 .7 0 9 .0
1 0 .3 8 4 .6
1.343.3
2 .6 2 3 .4
25 9 .5
7 3 8 .6
162.7
1 .8 0 0 .8
8 ,8 8 9 ,9
682.9
1 ,166,2
43 1 .9
1.040.4
1 .217.1
4 .4 3 3 .0
245,2
3 .6 2 9 .0
1 3 .5 6 1 .0
28 7 .0
4 .369.7
1 .7 9 9 .0
1 .3 1 3 .0
19,7 4 0 ,4
1 ,0 0 0 ,0
33 5 .0
811.5
69 3 .4
1 0 .0 5 1 .6
2.359.1
170.0
4 1 8 .8
1 .448.2
1 .624.0
5 0 2 .8
1 ,6 1 4 ,6
47 6 .0
2 .6 8 0 .0
1 1 .8 8 8 .7
5 2 6 .0
1 .4 9 6 .8
66 5.9
1 .2 0 0 .9
9 3 7 .0
9 2 7 .6

T o t a l . . . 102,251,9 1 2 1 ,9 6 4 ,8 8 9 0 ,4 4 8 ,1 1 7 7 ,1 7 0 ,0 7 7 ,4 4 8 ,0 912,8 1 2 ,1 2 7 8
t T o ta l U n ite d S ta te s d e p o s its in c lu d e d $ 4 0 ,1 7 3 ,1 0 0 .

Reports of Non-Member Banks.— The following is the
statement of condition of the non-member banks for the
week ending Jan. 24, based on average of the daily results.

247

New York City, Boston and Philadelphia Banks.— Below
is a summary of the weekly returns of the Clearing House
Banks of New York City, Boston and Philadelphia. The New
York figures do not include results for non-member b a n k a .
We o m it tw o c ip h e r s ( 0 0 ) i n a l l th ese fig u res.
BANKS

C a p ita l &
S u rp lu s.

L o a n s.

S p ecie.

L eg a ls.

N.
Jan
Jan
Jan
Jan

2 2 4 .2 1 6 .7
2 2 4 .2 1 6 .7
2 2 4 .2 1 6 .7
2 2 4 .2 1 6 .7

8 7 6 .1 5 2 .1
8 7 1 .6 4 2 .1
8 8 6 .0 5 4 .1
890.448.1

$
1 5 4,998,7
156.549.0
168,241,4
1 7 7 .1 7 0 .0

$
7 3 ,473,9
7 6 .6 6 3 .7
7 7 .2 5 3 .7
7 7 .4 4 3 .0

5 2 .3 2 2 .0 189.9 7 4 .0
5 2 .3 2 2 .0 191.4 5 7 .0
5 2 .3 2 2 .0 1 8 7 .9 5 5 .0

1 6 .8 8 4 .0
1 0 .9 8 9 .0
1 7 .0 8 8 .0

B

Y.
3
10
17
24
om .

J a n 10
J a n 17
J a n 24
P h i lo .
J a n 10
Jan 17
Jan 24

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

N . Y . C it y .
B orou gh s o f
M a n & B r*n x
$
C o lo n ia l___
100,0
C olu m b ia ..
300,0
14th S tre e t.
100,0
G a n se v o o rt.
200,0
H a m ilto n ..
200,0
M t. M orris
2 5 0 ,0
M u tu a l ___
200,0
1 9th W a rd .
200,0
100,0
P la z a ...........
R iv e r s id e . .
100,0
S tate .........
100,0
1 2 th W a rd .
200,0
23d W a rd ..
100,0
Y o r k v ille ..
100,0
W a sh in g to n
100,0
F i d e l i t y ___
200.0
V a r ic k ___
100,0
J etlerson ..
400.0
C e n tu ry . . .
100,0
W a sh . H g ts
100,0
U n ite d N at. 1,000,0

N otes.

A g en t. B k s . &c

$
189,1
25 7 ,4
90,4
54,4
114,1
94,8
184,5
179,9
231,9
107,9
418,3
88,2
87,4
269 ,4
51 ,0
107,5
66,3
20 7 ,8
53,0
108,5
23 0 ,0

$
2 ,102,5
2 ,8 8 3 ,0
1,662,4
1,479,1
1,906,1
2 ,2 9 4 ,6
2 ,2 0 0 ,6
1,543,4
3 ,217,7
946,7
5 ,7 7 4 ,0
1 ,5 1 0 ,0
1,219,6
1,565,5
848,7
606,7
7 5 5 ,0
1 ,559,8
301,1
533,5
2 ,1 9 6 ,6

$
73,7
18 0 ,0
92 ,6
37,8
114,8
132,2
29 ,3
36 ,6
190,2
21,4
4 0 3 ,0
43 ,0
50,7
37,5
15,3
12,0
3,0
12,5
6,7
8,1
27 8 ,5

$
207,7
108,0
65,7
74.7
96,7
91,3
128,2
150,6
212,1
8 7,8
201 ,0
152,0
113,7
141,6
37 ,6
38,5
66 ,0
63,4
14,9
13,4
60,6

$
221 ,6
227 ,0
207,9
182,9
17 0 ,6
301 ,9
2 1 0 ,0
366,6
70 ,6
73,7
2 0 4 ,0
68 ,0
71 ,6
137,4
34 ,9
4 3 ,8
6 5,0
2 3 1 ,8
3 1,8
4 5,0
91,5

$
150,0
3.0
10 0 ,0
38,7
6,0
63 ,6

150,0
100,0
300,0
100.0
252,0
500,0
100,0
300,0
300,0
100,0
100,0
100,0
200.0
100,0
200,0
100,0

142,8
21 0 ,4
170,6
18,1
496,5
383,5
40,7
646,2
592,2
158,8
150,6
79,8
266,2
62,3
12 1 ,0
68,2

1,397,1
1 ,616,8
1,404,3
29 6 ,9
3 ,001,7
4 ,7 3 4 .0
773,1
4 ,0 5 6 ,0
2 .7 9 3 ,0
97 3 ,4
1 ,224,5
57 6 ,0
1 ,138,0
645,2
1,148,9
77 0 ,2

17,5
20,8
92,0
5,5
413,9
166,3
15,5
2 0 0 ,0
171,0
15,6
48,3
10,8
93,7
20,9
39,5
34,5

109,5
136,7
51,6
39,1
88.4
3 1 8 ,6
54,4
350,0
36 8 ,0
65,4
99,3
4 8.0
17,0
28,3
7 9,0
26,1

2 1 0 ,8
157,7
1 1 3 ,8
4 6,3
4 9 6 ,8
182,1
102,7
4 8 4 ,0
3 4 5 ,0
45.0
66,6
66,6
15 9 ,0
63,3
72 ,8
33 ,4

12 1 ,8
••••••
61,1
39,3

25,0
100,0

75,4
97,2

531,3
71 0 ,8

19,7
4 6,7

15,0
10,0

86 ,0
114,1

3 1,8

600.9
687,7

400,0 1,027,9

4 ,9 1 7 ,0

28 1 ,8

105,9 1 ,4 3 6 ,8

4 4 9 ,6

250,0
250,0
200,0
110,0
125,0

626,8
307,3
263,1
497,4
134,6

2 ,2 8 6 ,8
1 ,142,4
1,157,5
2 ,4 7 1 ,2
1 ,0 1 3 ,6

94,9
72,5
48,4
132,9
38,2

69,2
16,1
52,5
24,9
5 0,8

136,3
34 9 ,8
30 7 ,0
202,9
119,9

$
4 5 .705.2
45,639,1
4 5 .5 0 0 .3
4 5.414.4

1,466?599>*
1 ,8 2 6 ,1 2 7 ,0
1,859,121,3
1 ,3 7 6 ,5 8 2 ,2

0 ,585,0 2 0 7 .6 1 5 .0
6 .955.0 2 1 3 .7 0 1 .0
6 .997.0 2 0 7 .1 7 8 .0

6 ,818,0
6 .8 2 7 .0
6.773.0

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

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

9 .4 8 7 .0
9 .4 9 7 .0
8 .9 9 9 .0

Imports and Exports for 1lie W eek.— The following are
the imports at New York for the week ending for dry goods
Jan. 22 and for the week ending for general merchandise
Jan. 23 ; also totals since beginning first week January.
F O R E IG N
F o r w eek.

IM P O R T S .

1903.

1902.

1901.

387,0
20,1
1,8
14 ,2
4,6
3
......

2 7 ,8
7,2
2 3,0
9 1 ,0
71 ,9
42,1
25,5
4 1,0
4.5
143,1
42,5

64,4
10,2
22,4
13,9
26,0

1,617,1
1,751,7
1 ,422,8
37 8 ,0
3 ,5 5 4 ,6
5 ,1 6 6 ,5
8 5 7 ,0
4 ,4 2 5 ,0
3 ,2 1 3 ,0
92 7 ,5
1 ,3 0 6 ,0
564,9
1 ,041,2
657,1
1 ,170,4
738,1

1,855,7
1 ,1 6 5 ,4
1,227,1
2 ,289,4
1 ,1 6 0 ,8

T o t. Jan 24 8 .712,0 9,829,4 77,886,9 3.879,7 4 ,527.2 8 ,445,2 2 ,128,2 8 4 ,2 4 7 ,9
T o t. Jan 17 8 ,712,0 9.829,4 78.198,7 3 ,8 3 0 ,0 4 .533.3 9,404,1 2 ,5 5 6 ,0 8 5 ,7 5 3 ,0
T o t. Jan 10 8 ,712,0 9,829,4 78,750,3 3,965,1 4 ,686,9 |8,490,3 1,980,2 8 5 ,2 1 2 ,6

1900.

D r y G o o d s ......................
G e n e ra l M e rch a n d ise

$ 2 ,2 0 0 ,5 5 8
7.10U .607

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

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

$ 2 ,5 5 0 ,6 5 8
7 ,3 8 3 ,9 6 6

T o ta L ............................
S in ce J a n . 1 .
D r y G o o d s......................
G e n e ra l M e rch a n d ise

$ 9 ,3 0 1 ,1 6 5

$ 9 ,8 3 8 ,2 3 2

$ 1 1 ,1 0 0 ,2 3 3

$ 9 ,9 3 4 ,6 2 4

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

$ 1 1 ,1 3 4 ,9 0 4
3 1 ,7 6 7 ,6 4 9

$ 1 0 ,0 1 3 ,5 2 5
3 3 ,4 5 6 ,2 2 4

$ 1 0 ,8 8 4 ,0 8 4
2 8 ,1 0 5 ,2 2 4

T o ta l 4 w e e k s ...........

$ 4 5 ,1 7 6 ,9 2 6

$ 4 2 ,9 0 2 ,5 5 3

$ 4 3 ,4 6 9 ,7 4 9

$ 3 9 ,0 4 9 ,3 u 8

The imports of dry goods for one week later will be found
in our report of the dry goods trade.
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. 26, and from January 1 to date.
E XPO R TS FROM

NEW

Y O R K FOR T H E W E EK .

1903.

1902.

1901.

1900.

F o r th e w e e k ................
P r e v io u s ly r e p o r te d ..

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

$ 5 ,3 8 3 ,2 9 0
3 0 ,6 7 5 ,9 3 2

$ 1 2 ,0 s l f753
3 4 ,0 3 3 ,0 6 7

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

T o ta l 4 w e e k s ...........

$ 4 2 ,8 1 9 ,1 4 6

$ 3 6 ,0 5 9 ,2 2 2

$ 4 6 ,1 1 4 ,8 2 0

$ 4 6 ,4 5 6 ,9 6 1

N o t e .—A s th e lig u r e s o f e x p o r ts as re p o rte d b y th e N e w Y o r k C u stom
H o u s e fro m w e e k to w e e k fr e q u e n tly sh o w d iv e r g e n c e fro m th e m o n th ly
tota ls, also co m p ile d b y th e C u stom H o u s e , w e sh all fro m tim e to tim e a d ju s t
th e to ta ls b y a d d in g to o r d e d u c tin g fr o m th e a m o u n t “ p r e v io u s ly r e p o r te d .”

The following table shows the exports and imports of
specie at the port of New York for the week ending Jan. 24
and since Jan. 1,1903, and for the corresponding periods in
1902 and 1901.
E X P O R T S A N D IM P O R T S O F S P E C IE A T N E W Y O R K

W eek.

G re a t B rita in ...................
F r a n c e ..................................
G e r m a n y ............................
W e s t I n d ie s ......................
M e x ic o ..................................
S ou th A m e r ic a .................
A ll o th e r c o u n t r ie s ........

7 ,0 9 0 ,2

4
•••••-

$
2 ,4 4 0 ,0
3 ,0 5 0 ,0
1 ,9 7 7 ,6
1 ,673,6
2 ,0 5 2 ,4
2 ,9 2 6 ,8
2 ,2 5 9 ,4
1,876,5
3 ,2 3 9 ,0
9 6 2 ,0
6 ,6 1 3 ,0
1 ,730,0
1,374,8
1 ,5 9 9 ,6
82 3 ,4
5 7 4 ,6
7 5 5 ,0
1,422,1
22 8 ,5
4 0 8 ,9
1 ,3 9 3 ,0

Borough oj
B r o o k ly n .
B e d f o r d ___
B ro a d w a y .
B ro o k ly n ..
8th W a r d ...
M fr s .’ N a t ..
M e ch a n ics’
M e rch a n ts’ .
N assau Nat
N a t . C ity ..
N orth S ide.
P e o p le s ........
17 th W a rd .
S p ra gu eN a t
2 6 th W a rd .
U n io n ...........
W a lla b ou t .
B o ro u g h o f
R ich m on d .
B k . o f St. Is.
ls t N a t .,S .I .
Other Cities.
1st N t., J. C.
H u d son Co.
N at., J. C.
2d N at., J.C .
3d N at., J.C.
1st N t., H o b
2d N a t.,H o b

8 7 3 ,f 15,0
8 7 3 ,6 0 9 ,6
9 0 1 ,1 1 1 ,9
912,812,1

1 2 5 .0 0 5 .8
1 2 8 .2 4 3 .3
1 2 3 ,8 6 3 ,0
t I n c lu d in g fo r B o s to n a n d P h ila d e lp h ia th e item “ d u e t o o t h e r b a n k s ,”
and a lso G o v e r n m e n t d e p o sits.
F o r B o s to n th e se G o v e r n m e n t d ep osit#
a m o u n te d on Ja n . 2 4 to $ 6 ,3 0 6 ,0 0 0 ; on Jan . 17 to $ 6 ,3 1 4 ,0 0 0 .

G o ld *

Sur­ L o a n s & S p ecie. L eg . T.
N et
& B a n k C lea r'g O ther D ep osits
In v e s t­
p lu s .
m en ts.

C lea rin g*.

E xports.

D e p o s it w ith

C a p i­
ta l.

C irculatifm .

5 6 ,5S>8,0
5 9 ,Ot>5,0
6 7 ,2i 18.0

W e o m it tw o c ip h e r s ( 0 0 ) in a l l cases.
BAN KS.
0 0 s om itted .

D e­
p o s its ^

I m ports.
W eek.

S in ce J a n . 1.

S in ce J a n . 1 .
$ 2 4 5 ,1 1 0

$ 5 ,6 2 0

$ 6 118

$ 3 2 ,9 3 4

20 129
23,' 423
30,672
1,800

2 1 ,7 0 6

T o ta l 1 9 0 3 ...................
T o ta l 1 9 0 2 ...................
T o ta l 1 9 0 1 ...................
S ilv e r .
G re a t B r i t a i n . . . . .............
F ra n ce ................................
G e r m a n y ............................
W e s t I n d ie s ...............
M e x ic o ................................
S ou th A m e r ic a ...............
A ll o th e r c o u n t r ie s .........

$ 5 ,6 2 0
623 ,1 0 4
4 ,0 6 7 ,6 0 3

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

$ 8 5 8 ,6 6 0
3 0 ,8 8 6

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

7,410

11 ,6 2 3

T o ta l 1 9 0 3 ...................
T o ta l 1 9 0 2 ..................
T o ta l 1 9 0 1 ...........

$ 8 9 6 ,9 5 6
1 ,1 8 6 ,4 2 9
1 ,248,497

$ 2 7 ,8 2 4
11,574
26 ,8 8 8

$ 372
2,978

$672
7 8 ,4 1 6
3 ,9 7 8

$ 3 ,3 5 0
7 757
10 5 .1 0 5

$ 2 ,2 9 6 ,9 4 5
2 ,984.261
3 .7 7 1 ,2 5 3

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

$ 8 3 ,0 6 6
82 ,1 4 8
2 5 5 .5 2 8

Of the above imports for the week in 1903, §5,260 were
American gold coin and $250 American silver coin.
Of the
exports during the same time $5,620 were American gold coin
and $7,000 were American silver coin.
Auction Sales.— See page preceding.

_____ganhhig and giiumcial.
Spencer Trask

&

Co.,

B A N K E R S ,

27 & 29 P IN E S T R E E T ,

-

NEW YORK.

T r a n s a c t a g e n e r a l b a n k in g b u s in e s s ; a c t a s F is c a l
A g e n ts fo r c o r p o r a tio n s , and
n e g o tia t e
is s u e s o f r a ilr o a d s a n d o t h e r c o m p a n ie s .
c o m m i s s i o n o r d e r s a n d d e a l in

IN V E S T M E N T

S E C U R IT IE S .

M em bers N. Y . S tock E xch a n g e.

M

o f f a t
M em bers N ew

s e c u r ity
E x ecu te

B ranch Office. 65 M a te St.. A lban y,

&

W

h i t e

,

Y o r k S lo c k E x ch a n g e .

1 NASSAU STREET, CORNER W AU L,
D e a le r s

In

T e l. 5820-5821 C ortlan dL

I n v e s tm e n t S e c u r itie s .
T e le p h o n e S to c k s a S p e c ia lly .

THE

248
J B a t ik je r s *
For

CHRONICLE

(g a z e tte *

D iv id e n d * s e e p a g e 24b.

W A L L ST R E E T, F R ID A Y . JA N . 30, 1 0 0 3 .-5 F. M,

The Money M arket and F in a n cia l S itu a tion .— The stock
m arket has been extrem ely dull, w ith the volum e o f busi­
ness very small. For the whole w eek the sales on the Ex­
change have aggregated only a little more than tw o million
shares (2,119,028), and on W ednesday the dealings reached
only 290,002 shares, the smallest day’s business (barring
Saturday half-h lidays) for some tim e past. W h ile some
weakness developed this afternoon, the upward m ovem ent
w hich has been in progress in special stocks would seem to
indicate that confidence is still w ell m aintained and that
the undertone remains strong.
St. Louis & San Francisco shares have had a sharp rise
during the week. The Erie shares have also been actively
dealt in at higher prices. In this last instance there are
still rumors o f possible buying for control. It may be, how ­
ever, that the com pany’s im proving earnings furnish the
basis o f the strength o f the shares. During Decem ber the
com pany added no less than $762,701 to its gross earnings
and $618,320 to its net earnings. The Erie, too, is the only
anthracite com pany which is able to show an increase in
net for the six months to D ecem ber 31, the im provem ent
for that period being $430,290.
The open m arket rates for call loans on the Stock Exohange
during the w eek on stock and bond collaterals have ranged
from 3 to 4 per cent. To-day’s rates on call were 2% to 3%
p ercen t. Prim e com m ercial paper quoted a t4 % @ 5 per cent.
The Bank o f England weekly statem ent on Thursday
showed an increase in bullion o f £871,012, and the percen t­
age o f reserve to liabilities was 47‘38 against 46*05 last week,
the discount rate rem aining unchanged at 4 per cen t.
The
Bank of France shows an increase o f 3,000,000 francs in gold
and 2,150,000 francs in silver.
NEW YORK CITY CLEARING-HOUSE BANKS.
1903
Jan. 24

JHfftrencts
fr t m
previous tseek

9
$
Capital................ 102,261,900
Surplus............... 121,904,800
Loans & discounts 890 448,100 Inc 4,394,000
86,900
45 414,400 Dec
Circulation..........
Ret deposits........ *912,812.100 Ino 11,700,200
Specie.................. 177.170.000 Ino 8,928,600
194,300
77,440,000 Ino
Legal tenders......
Reserve held........ 264.618.000 Ino 9,122,900
25 p. 0. ot deposits 228,203 025 Ino 2,925,050

1902
Jan. 25

9

1901
Jan. 26

9

83,822,700
100.766.700
869,942,600
31.713.900
949.660,800
185,891,200
76.857.900

74,222,700
92,267,600
841,367,300
31,353,200
937,423,000
191.710.200
78,445,000

262,749,100
237.416.700

265.155.200
234,355,750

26,414,976 Inc 6,197,850
25,332,400
80,799,450
Surplus reserve
* $40,173,100 United States deposits included, against $40,210,300 last
week. With these United States deposits eliminated, the surplus reserve
would be $36,468,250 on Jan. 24 and $30,209,700 on Jan. 17.
ROTE.—Beturns ot separate banks appear on the preceding page.

[Vol. LXXVI.

bonds are a trifle low er. The A tchison Topeka & Santa Fe
general 4s also closed slightly under last Friday’s figures.
Weakness developed in Baltimore & Ohio gold 4s, resulting
in a decline from 102% to 101%. Colorado & Southern 4s
dropped from 94% to 92%, but subsequently rallied to 93%,
and closed at 93. Denver & R io Grande im provem ent 5s
gained 2 points, to 107. R eading 4s were firm, closing around
last w eek’s price. W isconsin Central 4s were higher.
United States B on d s.—The on ly sale o f G overnm ent
bonds at the Board this w eek was $1,000 3s, coup., 1918, at
108. The follow in g are closing q u ota tion s; fo r yearly
range see third page following.
In terest
P eriod s

Jan.
24

Jan.
26

Jan.
27

Jan.
28

Jan.
29

2s, 1930.
Q —Jan *109 *109 *109 *109 *109
2s, 1930.
Q —Jan *109 *109
*109 *109 *109
1030 1B 8 .1.reriBtereq
IB
.-.-0
...... ......
2s, 1930 small__ coupon
..... ___
8 s, 1918.
Q — F eb *107 *107 *107 *107 *107
3s, 1918.
Q —F eb 108 -107*4 *107*4 *107*4 *107*4
3s, 1918, small.registered Q —F eb
......
3m 1918, small__ coupon Q —F eb •10 0 ’s *1 0 0 * ♦1061a *106*9 *100*1
,
4s, 1907.
Q —Jan *110
*110 *110 *110 *110
4s, 1907.
Q —Jan *110 *110 *110 *110 *110
4s, 1925.
Q — F e b *134*9 *184* *134*1 *134*9 *134*9
4s, 1925.
Q —F e b *130*9 *136*1 *136*9 *130*i *130*9
6s, 1904.
Q —F eb *103 *103 *103 *103 *103
6s. 1904.
Q - F e b *104* *104* •104*4 *104*4 *104*4
’ This Is the price bid at the morning board; no sals was made

Jan.
30

*109
•109
*107
*107*
*106*1
*110
*110
*134*1
*136*1
*103
*104*4

R ailroad and M iscellan eou s Stocks.—The stock m arket
has been extrem ely dull again this week, but values were
well m aintained until Friday, when weakness developed
and reactions occurred in a num ber o f stocks. St. Louis &
San Francisco continued to be an interesting feature in
the railroad market. F ollow ing the general drop in prices
on Friday o f last w eek the com m on declined on Saturday to
74%, but reacted the same day to 76% and subsequently
sola up to 83%; the close to-day was at 81%. The first and
second preferred shares have also been strong. A tchison
issues have been firm throughout the week, closing higher
than last Friday. Considerable strength developed in the
Erie issues; the com m on declined slightly on Saturday but
subsequently advanced; the preferred shares displayed even
more strength than the com m on. St. Paul com m on was
firm, but closes slightly low er than last week. Delaware &
Hudson advanced 4% points. Other strong features o f the
market have been Chioago & A lton , Missouri Pacifio and
New Y ork Ontario & W estern. Pennsylvania ends the week
lower than last Friday.
Am algam ated Copper was the leading feature in th e in ­
dustrial group, advancing m ore than 4 points over last
w eek’s closing. Strength was also displayed in Anaconda
Copper, w hich m oved up from 96 to 1U0%. On good de­
mand General E lectric gained 12 points. People’s Gas of
Chicago advanced from 103% to 107% and closed at 106%.
The price o f U nited States Steel shares was w ell m aintained.
F or daily volume o f business see page 255.
The follow in g sales have occu rred this w eek o f shares n ot
represented in our detailed list on the pages w hich follow .

Foreign Exchange.—The market for foreign exchange was
irregular this week Sterling was firm at the opening, but
Bales
gradually grew weaker until Thursday, when it closed
STOCKS
for
Range for Week
Bangs Year 1902.
steady at the decline. There was a partial recovery on Fri­ Week Ending Jan 30 Week
day. Francs were steady; marks were weak on account of Allls-Chalmers Co...... ,.
18
26
19 Jan
18*4 Jan
the advance in sterling exchange at Berlin. Guilders were Am er Agrioul Chemical. 300 2 3 * Jan 27 24 * Jan 29 18>4Jan 24 *9Jan
200
22 Jan
Jan
28
Am. Steel Foundries, pt. 637 66 Jan 27 66*4 Jan 29 66 Jan 68 Jan
steady until Friday, when they declined 1-32 of 1 per cent.
29
Jau
To-day’s (Friday’s) nominal rates for sterling exohange Amer Tobaooo, pref........ 100 146 *Jan 29 140 Jan 30 146 *gJan 149 Jan
Butterlck Co..................... 100 5 2
62 Jan 55 Jan
30 62*4 Jan
were 4 84% for long and 4 87% 04 88 for sight. To-day’s Commercial Cable........... 100 178 Jan 28 173 Jan 28 171*9Jan 176 Jan
100 63 Jan 29 03 Jan 29
60 *9Jan 68 Jan
General Chemical............
(Friday’s) actual rates were 4 8380@4 8390 for sixty day,
100 100*4 Jan 29 100 *4 Jan 29 100 Jan 101 Jan
P referred.......................
4 8680@4 8690 for sight and 4 8715@4 8725 for cables. Com­ Laclede Gas, p ref............
30 95 Jan 24 95 Jan 24 95 Jan 95 Jan
6
67
8Jan 29
6 Jan 27
El
mercial on banks, 4 83%@4 83%, and documents for payment, ManhattanCoal righ ts___ 39,700 100 * Jan 26 103»4Jan 29 100 *J a n 10 6 7»Jan
Jan
preferred 200
S»4 Jan
4 82%@4 83%. Cotton for payment, 4 82%@4 83%; cotton for Maryland
2 Jan
2 Jan 80
2 Jan 30
Ontario Silver M ining... 100
2 Jan
Rensselaer < Saratoga..
ft
19 20 8 *J a n 30 208 *9Jan 30 208*9Jan 208*9Jan
acceptance, 4 83%@4 83%; grain for payment, 4 83%@4 83%.
L
8
To-day’s (Friday’s) rates for Paris bankers’ francs, long, Stfor <fc A F stook tr ctfs 100 209 Jan 28 209 Jan 28 209 Jan 209 Jan
C
E 111.................
5 18%@5 18%t; short, 5 16%*@5 16%f. Germany bankers’
Outside Ma k e t.—Aside from the a ctiv ity shown by sev­
marks, long, 94%f@94%; short, 95@95 l-16f. Amsterdam
eral o f the copper stocks in the latter part o f the week, the
bankers’ guilders, long, 39%@39%T[; short, 40%f@40%.
Exchange at Paris on London to-day, 25 francs 14% cen­ market for unlisted securities has been devoid o f special
times; week’s range, 25 francs 14% centimes high, 25 francs feeture. The tone, how ever, ruled generally firm. Consid­
erable a ctiv ity and strength developed in Tennessee Copper,
14 centimes, low.
resulting in an advance o f over 8 points. D uring ihe
The week’s range of exchange rates follows:
----------- Long----------- Sterling Actual—
H ig h ... 14 8390
IiOW.... |4 8370

--------- Short-----------

® 4 8410 | 4 8690
® 4 8380 | 4 8676

,--------- Cables.--------- .

@ 4 87
1 4 8730 ® 4 8740
® 4 8085 | 4 8710 ® 4 8720

Paris Bankers’ Francs—

High... I 5 18*4

® 6 18M |

L o w . . . . I 5 18*41 ® 5 18*4 I
Germany Bankers' Marks—

6 16»*t ® 5 16*4 1

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

5 16V

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

® 5 16V I

High... I 94*4

® 94'8ist I

95he ® 9 5 V

1
® 95*ist I

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

High... | 39MI

® 391*18 I

40!»

a 40**U |
>

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

Low.... I

94llie ® 94*4

I
95
Amsterdam Bankers’ Guilders—

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

Low.... | 397
s
® 397
sH I
40 V ® 40* |
...........................
Loos: * he O 1%. t i8i Ol 1%. t 8m of 1%. Plus: u he O 1%. * * ha of 1%.
l
f

The follow in g were the rates o f dom estio exch an ge on
New Y ork at the under-m entioned cities to-day: Savannah,
buying % off, selling par; Charleston, buying 1-16 discount,
selling par; New Orleans, bank, $1 prem ium ; com m ercial,
p a r ; Chioago, 5@10c. premium : St. Louis, 10c. discount
@ p a r ; San Franoisco, sight, 12%o. prem ium ; telegraphio,
15o. prem ium .
State and R a ilro a d B ond s.—Sales o f State bonds on the
E xchange this w eek are lim ited to $19,500 V irgin ia 6s de­
ferred, B row n Bros. & Co. certificates o f deposit, ranging
from 11 to 11%.
The railroad bond m arket has been generally firm. Union
P acific conv. 4s and Oregon Short Line 4s and participating

greater part o f the w eek the price m oved irregularly be­
tween 16% and 18. On Friday a heavy demand for the
shares sent the price up from 16% to 24%. British Colum ­
bia Copper was also very strong, m ovin g up from 4% to 7% ;
the close was at 6%. Greene Consolidated shares were ir­
regular. Opening at 22%, they declined to 20%, and subse­
quently sold up again to 22%. The close to-day was at 21%.
Montreal & Boston, after declining from 2% to 1%, reacted
to 2% , and ended the w eek at 2%. The price m ovem ent of
N orthern Securities has been irregular. Opening around
113%, it declined on Monday to 113, and on the same day
reacted to 114%; from this figure it again declined, and
to-day closed at 112%. Standard Oil also displayed con ­
siderable irregularity, dropping from 736 on Saturday to 733
on M onday, and subsequently selling up to 740. Havana
T obacco shares, w h ich a w eek ago were exceptionally
strong, evinced considerable weakness, w h ich resulted in
a drop in the com m on o f 4 points, to 49%. The close to-day
was at % point higher. The preferred stock was very quiet.
International M ercantile Marine issues were also depressed.
The com m on declined from 14% to 13; the preferred suf­
fered a loss o f 5% points, to 40, but subsequently rallied to
41%. The bonds and stock o f the V irginia Iron, Coal &
Coke Co. were this w eek adm itted to the Stock Exchange.
Outside quotations will be found on page 255.

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

TW O

S T O C K S —H I G H E S T A N D L O W E S T S A L E P R I C E S
S a tu r d a y
J an . 24

M onday
Jam,. 26

T u esd a y
Jan 27

W ed n esd a y
J an . 28

T h u rsd a y
J a n . 29

J rid a y
Jan. 3 0

PAGES
STO CKS

N E W Y O R K STOCK
EXCHANGE
R a ilr o a d s .

*37
39
*37
*37
*87
39
39
40
*37
39
39
*67
70
70
*67
*67
70
*67
70
*67
70
*68
70
8730 877e 87 H 88 %
8 7 1 88 % 87% 8 8 %
4
I
87
88
i
86 7 87 *8
e
99% 993
4 993 1 0 0 %
4
9 9 '*2 99%
99
99%
99*4 100 %
99% 100%
100% 101 % 101 % 101 % 1 0 0 % 1 0 1 % 101
1 0 0 % 100 %
101% 1 0 0 % 1 0 1 %
95
95
95
95% *95
96%
96
i
*95
95Hi 95 H 95Hi *95
4
67% 67%
67% 68*4 68
68 H
i 673 6 8 % 07 3 68 % 67% 08%
4
*126 %128 *122 H 128 *122 H 128 *125 128 *126 128
*122 % 128
2
i
*147 150 *147 150 *147 150 *147 150 *147 160
148 148
i
b
134% 135% 135% 136% 136 130% 135 H 1367 186% 137% 136% 137%
*71
*74
75
75
*73
*73
75
75
*72
75
*73
76
186 186 *180 188 *184 188 *181 188 *183 188 *183 188
62
52%
61% 52®*
61% 62%
51% 5234 62% 62%
61*4 52%
35
36% 87
34% 341
34% 34%
35% 30%
36%| 30% 37%
72
71% 7 2 1
4
71
71
71
71®* 72
72%
71% 71%
*71
*190 210
207 207
•190 210 *190 210
135 136
134 134
*120 183
138% 18$% *130 138
27% 27%
27% 27%
27% 2*
27%
27®g 27%
27
27% 27%
90
903 *89% 91% *89% 91
4
*89 H 91
i
*89% §1%
*89% 91
84
84
*81
80
85% *81
*81% 86
86
*82
85
*81
i
43% 44
43% 43 7
e 43% 44Hi 43% 44 H 44% 44 %
437e 44%
177% 179
177 178
1763s 177% 176% 178% 1y 7% 178% 177% 178
{<190 195 *191 H 193 H U # 2 192 *192 193
i
i
•192
192% 192%
222 7 224 *222 224 H *222 224
e
i
223 223
221 223
n e 222

y^nn Arbor.
I>o pref....................
Atch. Topeka So Santa Fe.
Do pref....................
Baltimore So O h io ........
Do pref..................
Brooklyn Rapid Transit..
Buffalo Roch. < Pittab’g.
&
Do pref.....................
/ lanadian Paoiflo..........
v yana<la Southern..........
Central of N ew J ersey ..
Chesapeake So Ohio........
Chicago & A lton .............
Do pref.....................
Chicago So Eaat’n Illinois
Do pref.......... ..........
Chicago Great W estern.
Do 4 p. c. debentures
Do 5 p. 0. pref. “ A ” ..
Do 4 p. c. preL “ B ” ..
Chicago Mllw. So St. Paul
Do pref.......................
Chicago < North Western
fc
Do pref...................
Chic. Rook Iel’d & Pacific
•160 10.3 *160 163 *156 102 *160 160 *155 162 *156 102 Chic. St. P. Minn. < Om.
fe
*192 198
•J.90 195 *190 195 *190 195 *100 105
Do pref....................
19% 19% *18
18% 18% *18
18
18
19% *18% 19%
19% Chicago Term ’! Transfer.
35
85
*33
34
83U 33% *33
34% 34% *84
*32% 34
Do pref.....................
12
12%
11% 1 2 %
12
12%
12
12%
12%
1 2 % 1 2 % Chicago union Traction
12
*40
60
*46
*46
50
60
Do p ref.....................
97% 97% *96% 97% *96 % 97% *96
97
*95
97 Cleve. Cm. Chic. So St. L.
*95% 97%
118 118 1 118% 118% 119 119
*
*118 1 20
Do pref....................
30
29% 30 7e 80
30%
30% 30%
81 Colorado & So., vot. trust
29% 29%
29% 29%
71
71%
71
71
71
71
•69% 70% *69% 70%
71
Do 1 st p f. vot. tr. cfs.
71%
45
46%
45% 45% *45
46
Do 2d pf. Tot. tr. otfs.
*43% 44% *43% 44%
45% 45%
*172% 173% 173 174% 174% 174% *178% 174% 174% 175% 176 177%
udson___
D elaware (fe Hfe W est’ n.
*
272 *
272
270 270 *
•270 274 *........ 273
elaw. Lack. <
272
40
40%
40% 40%
"39% 40%
Denver < Rio G rande....
fe
39% 40
*87% 8 8 % 8 8 % 8 8 % 8 8 % 8 8 % 88
8 8 % $89
89
*88
Do p ref....................
89
44% *40
45
*42% 45
*43
46
*44
*43% 40 Des Moines So Ft. Dodge.
46
44
18
18
18
*17% 18
17% 17%
18
17% 17% Detroit South, vot. tr. ctfs
17% 17%
35
35% 35% *34% 35
*34
85
35% 35%
34% 34%
35
Do pref. vot. tr. ctfs.
89% 89%
89% 89%
89% 89%
89% 89%
80
Detroit U nited.................
189
17% 17%
17% 17% *17% 17% *17% 17% *17% 17% Duluth So. Shore & A tl.
17%
•17
26
25% *25% 26% *25% 26% *25% 26% *25% 27
Do pref......................
25% 25%
39% 40%
40% 41%
40% 4L% 40% 40%
40% 41%
rle
89>* 39%
70% 71%
71% 72%
72% 73% *71
71% 72%
70% 71
72%
Do 1st pref
57% 58%
57
67%
67% 67%
6 8 % 59%
58% 69%
Do 2d pref
6 6 % 67
69
68% 68%
09
6 8 % 69%
69
68%
69% 71% Evansv. So Terre H aute..
•67%
70%
*88
92
*88
92
*8 8
*8 8
$90
92
02
92
*88
90
Do pref
*04
66
*64
67
60
06
*64
66%
6 6 % 67
*64
67 Ft. WortlnfeDen. C.,stmp.
*202 208
206 206 *200 208
206 206
203 203 Great Northern, pref.......
208 203
Green Bay<feW.,deb. ctf.A
24
24
24
24
Do
deb. ctf. B
23% 23%
1 0 2 % 1 0 2 % 102 102
1 0 0 % 101 %
1 0 0 1 0 1 % 1 0 6 % 1 0 1 % 0 ocking Valley
100 101
97% 97% "97% 98
97% 97%
97% 97%
97
97% 97%
97% I T Do pref.........
148% 149
147% 148
148 148% 148% 149% 148% 148% 1 ilrnois Central.
147 148
44
44%
44% 45
*44% 46% *44
43% 44 I o w a C en tral....
45
44% 44%
73
73%
73
78% *72
74
74
*73
75
*73
Do pref
*72
75
45% 45% 45% 45%
45
*43
40%
45
45% $43
43 K anawha & M ichigan.
•44
79
79%
79% 70%
79
78% 79
78% 79%
80
C.Ft.S.&M.,tr. cts. pfd
79% 79%
34% 34%
36% 35% *34% 85% 34% 35
34% 34% Kansas City So. vot. tr.
84% 34%
60
60% *59% 60%
60
60
60%
60% 59%
00
60%
60%
Do p ief. vot. tr. ctfs.
86
36
36% 36% •35
36
36% 35% Keokuk (fe Des M oin es...
36
36%
30
*35
*56
*56
*56
65
65
65
*56
65
65
"6 6
05
Do pref.......................
*56
*40
60
*47
*47
49
*40
49
*47
*45
50
50
60
L ake Erie So W estern ...
Do pref.......................
a i d 120 *113 120 *113 1 2 0 *113 120 *113 120 *113 120
L. Shore < Mioh. South’n
fe
82
*78
*78
*78
82
82
82
*78
82 Long 18land.......................
*78
*78
82
125% 126% Louisville < N ash ville...
fe
123%122% 124% 125% 126 126% 126 126% 126%127
160 150% 150% 152% $144% 146
144% 144% 144% 145% 144 145% M anhattan E levated...
124% 124% 128% 123% 123 124% 123% 123% 123 123% 122 123%
etrop. Secur., sub. rec.
138 138% 136 137% Metropolitan Street........
138% 139% 138% 139% 138% 139% 138%139
*36% 33
*36% 38
*36% 38
*35% 38 Met. W est Side El. (Chic.)
*36% 38
88
88
* 8 6 % 90
*86 % 90
*85 % 90
Do pref.......................
* 8 6 % 88
25
25% *24% 25%
25
25%
25% 25%
25
24% 25%
25 Mexican Central...............
*125 150
Michigan Central.............
•125 150 *130 150 *130 150
fe
i
*107 108 H *107 108 H 107 108Hi *107 108 H *107 108% *107 108% Minneapolis < St. Louis.
i
i
Do pref.......................
*116 121 *116 122 *116 120 *117 121 *117 121 *118 121
73
73
73
*73
75
*73
75
73
72% 72%
74% 74% Minn. S. P. < S. S. Mane.
fe
123 123 *121 126
*122 124 *121 124 *123 120 *121 123
Do p ref.......................
4
28%
28
2734 27%
27% 27% Mo. Kansas < Texas.......
28
fc
28%
273s 27 H 273 28
i
6L
61
61
*60
61%
Do pref.......................
61
61
61
69 H
i
*59Hi 61
11038111% 1 1 1 % 1 1 2 % 111 1 1 1 % 1 1 1 % 112 % 111 1 1 2 % Missouri Pacific...............
110 111
107 107 *106 108
ash. CUatt. < St. Louis
fc
•105 % 108
105% 107 *107 110 *107 111)
19
10
18% 18%
18% 18%
18% 18% N at. of Mex., vot. tr. ctfs
19
18% 18%
*18
87
36% 36% *36% 37%
Do pref., vot. tr. ctfs
*36
30% 30% *36^ 37% *30% 39
150%15 L% 161% 152
fe
161 % 161 % 150% 151% 151% 151 % 150% 15114 N. Y . Central < Hudson..
41
41% 41% *41% 42% *41% 42%
41
41% 41% N. Y. Chic. & St. L ou is...
41% 41%
•115 119% *115 119 *115 119 *115 119 *115 119 *112 118
Do 1st pref.................
*83
80
84% 85
*84
"82
Do 2d pref.................
80
*84
87
*84
87
85
*221 224
222 222
$221 % 2 2 1 % "2 20 223 N. Y . N. Haven So Hartf.
222 222
2 2 2 %2 2 2 %
83% 33%
33% 34 N. Y. Ontario & Western.
32% 33
33
33%
33% 38%
33% 34%
73% 7 4 1
74
74%
74% 74%
74
74
74%
74
74%
74% Norfolk (fe W estern..........
4
*92
98% *92
93
93
93
93
*91% 93%
Do adjustment, pref.
$98% 93% *92
*67
70
*07
71
*67
*67
70
*05
70
*66
71
Coast Co.............
70
P acilio 1st pref.................
Do
*98 105
*97 105
*97 105
*97 105
*97 105
*98 105
*71
70
74
74
Do 2d pref................
*71
70
*71
70
74
76
74
74
162% 153% 153 % 154
153 154% 152% 153% 152% 153% 151% 152% Pennsylvania.....................
*35
40
*35
40
*35 * 39
*35
40
*35
40
*34
40 Peoria (fe Eastern.............
*80
82
*80
82 *
81 *
81 +
81 Per© Marquette.................
81 *
*
*
*
*82
*82
86
85
Do pref.......................
86
85
85
*90
03 Pitts b. Gin. Chic. So St. L.
*90
92%
92
92
*0 0
93
*87
04
93
*87
*114 120
Do pref.......................
*110 120
114 114 *110 120 *102 112 *105 116
60% 61%
61% 62%
Gi% 62%
0 1 % 0 1 % l>eadlng, vot’g tr. ctfs..
61% 62%
61% 02
87% 87% *87
•87 % 87%
88
*87% 88
87% 87% *87% 87% TV 1 st pref. vot. tr. ctfs...
74% 74% *74% 70
*74
75%
2 d pref. v ot’g tr. ctfs.
*74% 78
*74
76
74 4 74%
47% 48%
48
47% 48%
47% 48% Rock Island C om pany....
48%
47% 48%
47% 48%
80
Do pref.......................
80%
80% 81%
80% 81
80% 81%
80% 80%
79% 80%
71
72
71
69% 09%
69
69% 69 % 6 8 % 69% Rutland, p r e f....................
*14
10
*14
*14
*14
*14
16
10
*14
16
10
10
t. JosephcfeGr’d Island.
*54
*54
67 S Do 1st pref.................
*54
67
57
57
*54
57
*54
57
*54
25
Do 2d p ref................
*24
*24
25
*24
*24
25
25
25
♦24
25
*24
*38

E!

R a n g e f o r Y ea r 1 9 0 3
R a n g e lo r P r ev io u s
S a les of
On b a fts 0/ 1 0 0 -s h a r e lots
Y e a r (1 9 0 2 )
th e
W eek
H ig h e s t
Lowest
L ow est
H ig h e s t
S h a res

39% Jan 19 41 Jan 10 33 Feb 48% May
69 Jan 10 69 Jau 21 63 Jan 77% May
77,000 83% Jan 3 89% Jan 10 74% Jan 96% Sep
] 1.460 99 Jan 24 103 % Jan 10 95% Jan 106 % Sep
22,096 100 Jan 3 104 Jan 9 92% Dec 118% Sep
549 94 Jan 8 96 Jan 23 92 Dec 99 Sep
21,381 6 6 % Jan 3 70% Jan 9 54% Nov 72% J’ ly
124 Jan 8 127% Jan 23 110 Apr 128 Aug
100 145 Jan 10 148 Jan 30 139 Apr 145 Sep
29,420 131% Jan 3 138% Jan 14 112% Jan 145% Sep
71 Jan 14 78 % Jan 5 71 Dec 97 May
100 180 Jan 2 190 Jan 19 105 Nov 198 Jan
25,810 48% Jan 2 53% Jan 19 42% Dec 67% Sep
17,200 34% Jan 21 37 % J an 5 29% Dec 45% J ’ly
4.300 71 Jan 26 73% Jan 7 68 Nov 79 J ’ly
200 202 Jan 15 20s Jan 21 134% Jan 220% J ’iy
700 130 Jan 13 138% Jan 29 136% Sep 151 J ’ly
7,800 27 Jan 241 29% Jan 9 22 Dec 35 Aug
010 89 Jan 2 90% Jan 13 89% Nov 95% J’ ns
245 84 Jan 8 85 % J an 9 81% Dec 90% J ’ ns
8.300 40% Jan 15 46% Jan 19 33 Dec 61% Aug
95,820 176% Jan 24 183% Jan 7 160% Jau 198% Sep
225 192 Jan 201 194% Jan 9 186 Jan 2 0 0 % Sep
6,900 218 Jan 24 224% Jan 1 1 204% Jan 271 A pr
250 Jan 7 250 Jan 8 |230 Jan 274% A pr
100 200 Jan 9 200% Jan 9 152 Jan 206 Sep
160 Jan 19 162 Jan 21 140 Feb 170% A pr
194 Jan 5 194 Jan 5 194% Nov 210 Apr
600 18 Jan 20 19% Jan 9 16 Dec 24% Aug
800| 32% Jan 21 36 Jan 8 29 Dec 44 Sep
5,300 11% Jan 27 17% Jan 12 10% Jan 23 A pr
47 Jan 23 50% Jan 14 44% .Mar 60 A pr
100 95% Jan 23 90% Jan 6 93 Nov 108% Aug
450 118 Jan 8 119 Jan 27 118 Jan 124% Sep
7,320 28% Jan 2 31% Jan 10 14% Jan 35% J ’ly
1 , 0 0 U 69 7e Jan 2 72 Jan 9 59% Jan 79% Aug
3,600 44% Jan 23 48 Jan 8 28 Jan 53% Sep
12,610 171 Jan - 0 177% Jan 30 153 % Nov 184% Jan
200 262% Jan 5 270 % Jan 8 231 Nov 297 Feb
600 39% Jan 23 42% Jan 6 35% Dec 51% Aug
740 88 Jan 15 90% Jan 6 8 6 % Dec 96% Aug
400 44 Jan 5 47 % Jan 8 35 Dec 63% J ’ ly
1,500 17 % Jan 19 20% Jan 2 13 Feb 25 Sep
600 34 Jan 14 39% Jan 2 26 Dec 48% Sep
90U 8 8 % Jan 2 90 Jan 6 75 J ’ne 97 Sep
400 17% Jan 26 19% Jan 7 10 Jan 24 Aug
620 25 Jan 26 28% Jan 6 18% Jan 35% Apr
200,950 38% Jan 3 42% Jan 9 28% Dec 44% Jan
71,300 67% Jan 7 73% Jan 29 60 % Dec 75% Jan
16,900 51% Jan 2 69% Jan 29 41% Dec 63% Jan
7,033 6 6 34 Jan 2 72% Jan 8 60 Mar 74% Mar
92 91 Jan 8 91 Jan 8 82 May 104% Feb
1*100 62 Jan 7 67 Jan 29 30 Jan 67% Deo
502 200% Jan 8 209 Jan 22 181% Mar 203 Deo
85 Jan 9 85 Jan 9 70 Jan 90 May
9 Jan 29% Oct
26 24 Jan 21 27% Jan 5
7,200 90% Jan 2 105% Jan 19 66 Jan 106 Aug
1,360 95% Jan 5 98% Jan 19 81% Jan 98% Deo
9,650 146 Jan 3 151 Jan 10 137 Jan 173% Aug
1,900 40% Jan 2 48 Jan 12 35% Dec 51% Aug
200 71% Jan 2 77% Jan 12 65 Nov 9U% Apr
250 45 Jan 8 47 % Jan 6 33 % J an 50% Aug
2,335 78% Jan 16 81% Jan 21 75 Dec 8 8 Aug
1,510 33% Jan 20 36% Jan 12 19 Jan 39 Aug
2,300 57% Jan 2 61 % Jan 22 44 Jan 62% Apr
600 33% Jan 21 36% Jan 23 13 Jan 41 Sep
45 Jan 84 A pr
50 Jan
53 Jan a 40 Dec 71% Jan
5113 Jan
U 1S Jan 19 120 Oct 138 Feb
334% Jan
334% Jan 5 325 Apr 340 A pr
80 Jan
83 Jan 7 72% Nov 01% May
14,110 123% Jan
130% Jan 8 102% Jan 159% Aug
28,993 4144 Jan
155% Jan 14 128 Mar 158 Nov
4.700 122 Jan
128% Jan 6 109% May 134% J ’ly
19,175 130 Jan
142% Jan 6 135 Oct 174 Feb
88 Jan
38 Jan 8 35 Dec 43 Jan
100 8 8 Jan
8 8 Jau 20 89 Mar 91% Mar
4,350 24% Jan
26% Jan 10 20% Dec 31% Mar
120 Jan
135 Jan 15 $150 Mar 192 A pr
107% Jan
110 Jan 9 105 Jan 115 A pr
118% Jan 127% Apr
600 72% Jan 21 77 Jan 5 30% Jan 84 Nov
100 122 Jan 21 129 Jan 0 90 Jan 139 Sep
3,200 27% Jan 23J 30% Jan 6 22% Dec 35% Sep
1,000 6 8 % Jan 21 62% Jan 9 51 Jan 69% Sep
8*2,460 107% Jan 3 113% Jan 9 90% Mar 125% Sep
300 105% Jan 26 109 % Jan 16 80 Jan 122 Apr
1,900 17% Jan 2 20% Jan 8 c l 4 Dec 21% Sep
100 34 % Jan 8 40% Jan 8 31% Dec 45% Mar
12,540 160% Jan 30 156 Jan 10 147 Nov 168% Jan
600 41 Jan 26 45 Jan 7 40 Nov 57% Aug
110 Jan 23 118 Jan 16 110% Nov 124% Jan
200 84% Jan 27 87 Jan 19 30 Nov 100 Aug
360 2221% Jan 27 225% Jan 9 209% Jan 255 Apr
23,690 32 Jan 2 S5 Jan 14 25% Dec 37% Sep
8,87o 73% Jan 2 76 Jan 6 55 Jan 80% Oct
173 92 Jan 61 03 Jan 22 90 Feb 98 J ’ly
65 Dec 81% Sep
68 Jan 21 72 Jan lu
98 Jan 5 98 Jan 5 100% Jan 106 Mar
400 73% Jan 5 70 Jan 23 72% Dec 84% Sep
107,130 151«4 Jan 30 157% Jan 1 < 147 Jan 170 Sep
*
37 Jan 23 39 Jan 8 30 Nov 47% Apr
71 Feb 85 % Sep
80 Jan 2 82 Jan
80 May 93 Sep
••••• • •
•
•••••• -••
80% Jan 105% Sep
100 90 Jan ’ 6 94 Jan
113 Mar 123 May
100 110 Jan 8 115 Jan
| 52% Mar 78% Sep
80,001 59% Jan 13 69% Jan
79% Mar 90% Sep
400 85% Jan 13 8 8 % Jan
60 Jan 80% Sep
300 74 Jan 22 81 Jan
33% Dec 50% Deo
81,450 47% Jan 21 53% Jan
71 Nov 85% Nov
12,010 79% Jan 24 80 Jan
64% Dec 125 Apr
2,100 65 Jan 9 72 Jan
14 Jan 10 15% Jan 2 I 10 Dec 24% Aug
I
54 Jan 8 58 Jan 6 49% Dec 81% Sep
24 Jan 6 24% Jan 19 | 24% Nov 42 Sep

B A N K S A N D TRU ST COMPANIES— BROKERS’ QUOTATIONS
B id A sti
B id
A sk
B id
A sk
B an k s
B id
A sk
B id
B au k s
A sk
B unks
B unks
Bunks
Leather Mfr. 300
C i t y .............. 300 310
F o u rth ........ t235
Pl 2 a*'.......... 600
NassauH . . . . 195 205
Liberty ....... 000
Americali ... 545 560
New AmBter 540 575 ' Prod Exchi . 1170 i s o "
Colonial 1 . . . 375
]
G allatin....... 425 135
Amer Exch.. 270
Lincoln........ 1050 1150 New York Co 1500
RiversidoTi .. 275
C olum bian.. 350 •••••• Gansevoortli 140
As to r ........... 750 1000 Com m erce... 1325 1335 G arlield.......
Mauiiattiinli. 325 840
N Y Nat Ex. 275 300** Seaboard. . . .
S e co n d ........ 650 • • • • • •
Bowery 1j ___
German Ami 100 i70
Consolidated 200 204
Market < Fui 260 270
fe
New Y o rk ... 335 345
Seventh ....... 115 121
C’ ru Exchgey t 447
Broadway... 360 370
German Ex’ 350
Mechanics’ . 285 295
19th WardH. 150
fe
Butch’s (fe Dr 150 170
Germaniali .. 000
East R iver.. 100
Mech So TraT 1165
North Am er. 250 2*60“ 1Shoe * Leth. 190 210
State* ............ 700
Central........ t i s o . . . . . . E qu itable. . . 115
.........
180
Greenwich 1 350
]
M ercantile.. 1350 t352 % N orth ern ....
112th Ward' . 125 135
Century Tl.... 175
Merch Exch. 165 175
Fidelitylt---- 190
llamiltonll .. 170
Orientalli___ *215
23d W ard*., 125
C h a se.......... 700
Merchants’ .. 185 190
Pacific1 ....... 240
!
Fifth Aveyj.. 3700 4000 Hanover....... olio 050
v uiteu.......... 125 l i a r
Chatham . . . . toG %
Fifth........
Park............. 650 670
O
375 425
Imp So Trad. 650 070
Metrop new 1 500 550
>00 : United States
C hem ical.... 1300 4350 First............. 775
I r v i n g .......... 235
245
Mt Morris*,!.. 2 20 240' People’s lj...- 2S5
Vurick
pitizens’ ....... 190 192
1210
Mutual1
!....... toO0 % . . . . . . P h e iu x ........ ♦125
Jcffersoul)... 100 176
14tli Street^. 200 300
.S ta te b a n k s ,
a E x d i v i d e n d .111 > r u c a t s . b N e w s t o c k .
• Bid aud asked prioes; no sales wore made on this day. $ Less tg.au LO shares. * Ex rights.
O
t Sale at Stock Exchange or at auction this week. s Trust Oo. certificates.
0 Includes, prior to May 17, dealings m old Alex. Nat, trust receipts.

B an k s

NEW YORK

B id

A sk

2 5 0

S tO O k R e c o r d — C o n c l u d e d — P a g e

STO CKS— H IG H E S T A N D
S a tu r d a y
J a n . 24

M onday
Jan. 26

T uesd ay
Jan. 27

L O W E S T S A L E P R IC E S
W ed n esd a y
Jan. 28

T h u rsd a y
Jan. 29

F r id a y
Jan. 3 0

STOCKS
N E W Y O R K STOCK
EXCHANGE

2

[V o l

l x x v i.

R a n g e fo r Y e a r 1 9 0 3
R a n g e fo r P r e v io u s
S a les of
On b a sis o f 1 0 0 -s h a r e lo ts
Y e a r (1 9 0 2 )
th e
W eek ,
L o w est
L ow est
S ha res
H ig h e s t
H ig h est

8 0 4 8 3 4 St. L o u is & S an F r a n ........ 6 6 ,5 6 5
78
804
78 4 794
804 814
7 6 4 78*4
81
8L
81
814
79 4 80
79 70 8 0 4
D o 1 st p r e f .................
1,2UU
*78
81
73
74
D o 2 d p r e f .................... 1 1 ,0 0 0
7 3 4 74 4
72
73
73
734
73 4 7 4 4
3 ,6 1 0
27
27
St. L o u is S o u t h w e s t e r n ..
27
27
27
27 4
26*8 2 7 4
26 4 204
0O34 6 1 4
60 4 6 0 3
4
3 ,5 0 0
62
61
614
D o p r e f ...........................
61
6 1 4 *6 1
63 4 65
S o u th e r n P a c ific C o .......... 6 5 ,0 1 0
04 4 05
65
65 4
64*8 65 4
044 654
3534 3 0 4
3 5 4 3534 S o u t h e r n v .t r . c fs . stm p e d 5 1 ,9 6 0
354 354
35 4 3 6 4
354 364
D o p r e f.
do
3 ,3 7 0
95
954
95
95 4
9 5 4 95 4
95 4 9 5 4
94 4 9 5 4
*9 5
98
......
98
*9 5
98
*95
98
*95
M . & O. s t o c k t r . c t f s . . .
9 8 4 *95
3934 4 0 4 r|*exas & P a c i f i c ............... 1 1,725
40
404
3 9 34 4 0 4
40
404
40 4 404
5 00
124
125
*124
126
*124
127
125
125
*124
127
1 b ir d A v e n u e (N . Y . ) . , .
40 0
3534 36
3 6 4 T o le d o R a ilw a y s & L ig h t
* .......... 3 6 4 ♦.......... 36
* .......... 3 6 4 * ___ _
1 ,3 0 0
3 u34
30
3 0 4 T o l. St. L .
W . v. tr. c t f s
3 0 4 30 4
30 4 3 0 4
3 0 4 3 0 4 *30
43 5
*48
47
45
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D o p r e f. v o t . tr. c t f s .
* 4 4 4 47
* 4 3 4 46
444 444
1 ,1 5 9
* 1 1 9 4 121
T w in C ity R a p id T r a n s it .
1 2 2 4 1 2 2 4 1214 1214
1 2 1 4 122
*155
159
D o p r e f...
1 f n io n P a c ifi c ..................... 8 8 ,3 6 0
4
io o ^ io i^
101
1 0 1 4 10 1 3 1 0 2 4 1 0 1 4 1 0 2 4 1 0 1 3 4 1 0 2 4 1 0 0 4 1 0 2
9 ,2 9 0
94*4 94*4
94 4 95
9 4 4 94:34
9 2 4 9 4 4 ^ D o p r e f ...........................
94 4 9 4 4
944 944
800
20
20
21
21
21
21
20
204
2 1 4 2 1 4 U n itR y s~ In v ’ t o f S a n F r a n
* 1 8 34 21 4
* 6 1 34 63 4
1 ,127
* 6 1 34 6 2 4
*01
63
63
03
63
63
D o p r e f ...........................
624 624
2 ,4 5 0
2930 29 4
2 8 34 2 8 70
284 294
29 4 2 9 4
29 4 2 9 4 \ \ T a b a s h ................................
294 294
3 ,9 5 0
44 *8 44*2
4 4 4 45
44 4 4 4 3
4
4 4 4 45 4
4 4 4 4 5 4 > I D o p r e f .........................
44*4 46
4 00
2 4 34 25
2 4 34 2 4 4 * 2 4 4 2 5 4
2 5 4 W h e e lin g & L a k e E r i e . . .
2 5 4 *24
25 4 25 4 * 2 6
200
*56
58
68
*55
58
*50
58
-5 0
68
67
57 *2 *65
D o 1 s t p r e f ....................
* 3 4 4 3 5 4 * 3 4 4 35 4 * 3 5
36
*35
36
* 3 4 4 36
D o 2 d p r e f ..,
*344 354
2034 2 6 4
1 ,6 7 0
2034 2 6 4
26°8 2 6 4
2 6 4 2 6 4 W is c o n s in C e n t. v . tr . c fs.
2 6 4 2 6 5g
264 264
6 2 3* 6 2 7e
6 2 34 6 2 34
1 ,9 0 0
63
53
62 4 53
D o p r e f. v o t . tr. c t f s .
52 4 63
52 4 5 2 4
I n d u s t r i a l & iU is c e ll
15 0
*205
225
♦205 2 2 5
*205 220
*205 220
$204 205
$205 207
4 d a m s E x p r e s s ................
6 6 34 07
-A m a lg a m a t e d C o p p e r ... 1 0 2 ,5 4 0
63 4 6 3 4
6 6 *e 6 7 ,3
8
03 4 0 4 4
044 654
0 5 4 66^2
♦ ..........
4
4 * ..........
4 * ..........
4 A m e r ic a n B ic y c le .
4 ♦..........
4 * ..........
6 ,6 0 0
D o p r e f ...........................
4
4
4
4
4
4
4
4
®s
4
4
4
4 0 4 41
A m e r ic a n C ar <fc F o u n d r y 1 0 ,2 2 5
40
40 4
4 0 34 4 1 4
41
414
41
414
4 0 4 4 0 7e
655
*90
92
* 9 1 4 92
D o p r e f ...........................
9 1 34 9 1 34
9 1 7s 92
* 9 1 4 92
914 914
3 ,1 0 0
44
44
44
45
A m e r ic a n C o tto n O i l........
44
444
4 4 4 44 4
444 444
444 454
"OS
*9 6
98
*95
98
*95
98
*95
98
98
*95
98
D o p r e f.
*37
40
38
38
40
*37
40
*36
*30
40
*3 7
40
A m e r ic a n D is t.T e le g r a p li
1 00
*2 2 0 2 3 0
*205 225
*220 230
*220 230
*220 230
2 2 0 4 2 2 0 4 A m e r ic a n E x p r e s s ..............
980
27
27
28
*27
274
A m e r ic a n G r a s s T w i n e ..
2 7 4 27 Vi
2 7 4 2 7 4 *2 7
27 4 2 7 4
600
*9
9 78 A m e r H id e & L e a t h e r ___
* 9 4 10
*94
94
94
94
94
9 78
94
94
3 00
35
35
35
*34
35
D© p r e f ...........................
*3 5
354
*34
85
84
3 4 4 *33
4 ,1 0 0
11
l l 3* *11
1 0 4 11
1 1 4 1 1 34 A m e r ic a n I c e .......................
114
11
1 1 4 *1 1
114
4 ,6 5 4
394 404
40
404
D o p r e f ...........................
404 404
404 404
404 424
39 4 3 9 4
6 50
18
1 8 3e A m e r ic a n L in s e e d ..............
1 7 4 1 7 34 * 1 8
1 8 4 *18
184
174 174
184 184
4734 * 4 5
200
*43
4734 * 4 4
48
464
D o p r e f ...........................
46
4 6 4 *46
* 4 6 4 47 4
2 ,6 0 0
29
294
29
29
29
2 9 4 A m e r ic a n L o c o m o t i v e .. .
28 4 2 8 4 * 2 8 4 29 4
2 9 4 29 4
1 ,1 0 0
9 3 34 9334
933* 933*
93 4 9 3 34
D o p r e f ...........................
93 4 93 4
9 3 4 93 4 *93 4 94
100
* 4 34
5
* 4 34
5
* 4 34
5
*4*4
6
5
5
A m e r ic a n M a lt in g ..............
- 4 34
6
700
2334 2 3 34 * 2 3 4 2 4 4
24
24
24
241
4
D o p r e f ...........................
244 244
244 244
4 4 4 4434
4 4 7e 4 6 4|
40*9 47
4 6 4 4 6 7e
4 4 4 45
4 0 4 4 0 4 A m e r . S m e lt’ gcfe R e fin ’ g . 1 7 ,7 2 5
9534 0 0
95
96
9 5 4 9 5 7e
D o p r e f ........................... 1 2 ,4 5 7
94
944
9 4 4 95 41
934 944
150
125
125
* ..........1 2 7 4
* ..........1 2 7 4 k
* .......... 1 2 7 4 A m e r ic a n S n u ff__
127 4 * .......... 125
120
*97
984
97
97
D o p r e f ...........................
*97
9 8 4 * 9 7 34 93*4 3 * 9 8
984
*964 98 4
129
12934 129 4 1 2 9 4 A m e r ic a n S u g a r R e fin in g 2 2 ,4 0 0
1 2 8 3 1 2 9 5e 129 4 1 3 0 4 1 2 9 34 1 3 0 4 1 2 9 4 1 0 9
4
90
1214 ♦12041214
D o p r e f ...........................
* 1 2 0 4 1 2 1 4 - 1 2 0 4 1 2 1 4 $ 1 2 1 4 1 2 1 4 $ 1 2 1 4 1 2 1 4 *121
A m e r . T e le p h . & T e le g
*162
163 4
740
*1338 14
14
14
*14
1 4 4 A m e r ic a n W o o l e n . . , . ^ . . .
* 1 3 4 14
$134 134
* 1 3 4 14
*77
79
*77
79
*77
80
-7 6
80
* 7 6 4 80
D o p r e f __
* 7 8 4 80
4 ,7 0 0
96
96
*96
99
99
99
1 0 6 100
9 9 4 1 0 0 4 1 0 0 1 0 0 4 d A n a c o n d a C o p p e r ............
*220 230
*220 2 2 8
*220 2 28
*220 228
*220 228
*220 228
O r o o k l y n U n io n G a s . . , .
8 ,6 6 5
14
1 4 34 1 J r u n s w . D o c k <& C .I m p ’ ti
1 2 4 13
13
1 2 34 13 >
2
14
154
13 4 - 1 2 4 1 3 4
1 ,9 1 0
*74
75
74
74
74
( lo io r a d o F u e l & I r o n . . .
75
75
744
74
744
7 5 4 76
♦ 120 13 0
*120
130
130
*1 2 0
130
-1 2 0
130
*120
130
D o p r e f ..,
420
*19
20
19
19
19
19 ** *16>9 19*2 * 1 7 4 1 9 4 * 1 6
1 9 4 C ol. & H o c k . C oa l & I r o n .
4 ,3 0 0
215 210
2164218
2 1 7 2 1 7 78 2 1 7 34 2 1 8
2 1 6 4 2 1 7 4 C o n s o lid a te d G a s (N . Y .) .
2 1 5 4 217
75 0
118
117
* 1 1634 1 1 7 4 * 116*4 1 1 7 4 1 1 7
C o n t in e n t a l T o b a c c o , p r e f
1 1 7 4 $117
1 1 7 4 1 1 7 4 *117
2 ,8 9 5
32 J 33
4
33 4 3 3 4
33
33
3 2 4 3 2 4 C o r n P r o d u c t s .....................
33
33 4
3 3 4 33 4
62 0
84
84
D o p r e f ...........................
8 4 4 8 4 4 * 8 3 4 85
8 4 38 81*2
8 4 4 8 4 4 *83 4 8 4 4
♦137*o 1 4 0
*1374140
*139
140
* 1 3 7 4 140
* 1 3 7 4 ]4 0
* 1 3 7 4 140
D ia m o n d M a tc h
1 ,8 6 8
*31
3 1 34
30
30
30
* 3 0 4 31
31
314
314
3 1 4 3 1 4 D is tille r s S e c u r it ’ s C o rp .
186
187
1904192
G e n e r a l E l e c t r i c ................. 1 4 ,9 3 0
18741934
1 9 1 4 1 9 4 4 1 9 3 4 1 9 0 4 1 9 5 34 1 9 8
* 1 7 34 18
- 1 7 4 19
*18
19
* 1 7 4 18 4 I n tern ation n .l P a par
*18
19
*18
19
816
72
*72
73
*72
73
73
73
72 4 72 4 $72
* 7 2 4 7 3 4 1 D o p r e f ...........................
1 00
*6 7
72
67
67
*60
69
I n t e r n a t io n a l P o w e r . .
300
I n t e r n a t ’ l S tea m P n m p
4 5 4 45 4
44
45
100
85
*82
88
D o p r e f ...........................
85
*8 2 w 8 8
*12
16
*1 2
1 4 4 *12
15
*12
15
*12
14
M a n h a tta n B e a c h
*1 2
14
1 ,4 5 0
*40
46 *8
46
46
46
464
464 404
4 6 4 4 6 4 \T a tio n a l B i s c u i t ..............
4 0 4 4 6 5e
1 00
*1044106
A D o p r e f ...........................
♦1044108
108
1 0 4 4 1 0 4 4 *1044108
- 1 0 4 4 1 0 5 4 *104
4 ,0 0 0
28
28
284
28
28 4
2 7 a4 2 8 4 N a t io n a l L e a d .......................
* 2 6 4 2 7 4 *27
27 4 28
9 2 4 *91
924
*89
9 2 4 *89
♦89
9 2 4 *90
92 4 *9 0
D o p r e f ...........................
92 4
172
172
*170
500
170
172
175
*169
175
N e w Y o r k A i r B r a k e ........
1 7 3 4 1 7 3 4 170 170
800
115
116
*110
*110
117
116
116
117
-1 1 3
118
N o r t h A m e r ic a n C o., n e w
*110 119
100
* .......... 40
*39
40
*39
40
1p a c ific M a i l ..
1 0 4 4 1 0 4 4 1 0 3 34 1 0 5 4 1 0 5 4 1 0 6 4 105 4 105 7s 1 0 5 4 1 0 0 4 1 0 6 4 1 0 7 4 L e o p . G a s -L .& C. (C h ic .) 2 9 ,4 0 0
65
654
65 4 65 5e
04 4 65
65
654
6 4 4 6 4 4 P r e s s e d S te e l C a r ................ 1 2 ,5 0 0
6 4 4 65 4
2 ,1 5 0
* 9 3 4 94
D o p r e f ...........................
944 944
944 944
944 944
944 944 $944 944
20 0
*232
235
23 4
234
*234 236
*234 235
2 35 235
♦232 2 3 4
P u llm a n C o m p a n y ..............
2 ,2 5 2
3 1 4 3 1 34
32
33
33
3 L 70 3 2 4 1> a il w a y S te e l S p r in g ...
32
32 4
32 4
823
85
85
85
85
85
85
85
85
85
85
TV D o p r e f ...........................
8 4 4 84 4
8 ,0 0 0
2 0 38 2 L
2 0 3 2 1 4 R e p u b lic I r o n & S t e e l . . .
4
21
214
21
2L4
2 0 7g 21
204 214
1 ,3 1 5
7 8 4 783*
D o p r e f ...........................
784 784
784 784
7 8 4 79
784 784
7 8 4 784
5 ,1 9 6
214 254
24 4 24 4
25 4 2 5 3e R u b b e r G o o d s M f g ..............
2 4 4 25
244 254
24 4 244
1 ,1 5 0
79
79
79
79
D o p r e f ...........................
79
79
79
79 4
79
79 4
79 4 7 9 4
1 ,8 5 0
60
064
66 4 6 6 4
67
67
O lo s s -S h e lfie ld S t. & Iro n
07
03
6 6 78 67
67 4 6 7 4
20 0
*92
93 4 *91
..........
94
O D o p r e f ........................
9 3 4 9 3 4 *91
9 3 4 9 3 4 *92
934
300
* 5 34
6
* 5 34
6
6
*54
6
*54
54
54
*54
5 4 S ta n d a rd R o p e & T w i n e . .
6 ,4 5 0
62
63
62 4 6 3 4
6 3 4 64
63 4 6 3 4
62*8 6 2 7g T e n n . C oa l, I r o n & R R . . .
63*8 63*8
30 0
*37
40
*37
40
*3 8
40
T e x a s P a c ific L a n d T r u s t
40
*38
40
39 4 3 9 4 *37
*14
1 4 4 *14
1 4 4 *14
144
*14
1 4 4 *14
*L4
144
144 I I m on B ag & P aper
*7734 79
400
78
78
78
78
U D o p r e f ...........................
78
78
*78
784
784 784
10 0
*10
15
13 4 13 4 U. S. C a st 1. P ip e & F o u n .
300
52 4 52 4
D o p r e f .......... ............
*50
55
*136
142
*135
140
*135
140
U n ite d S ta te s E x p r e s s ...
* 1 3 5 141
*135
142
*1 3 5
141
4 ,1 0 0
1 2 4 1 2 a8
1 2 4 13
12 4 1 2 4 U n ite d S ta te s L e a th e r ___
12 4 12 4
1 2 4 1 2 4 *12 4 1 2 4
$89
89
D o p r e f ...........................
1 ,7 1 0
89
89
8 9 38 8 9 3*
8 8 7a 89
* 8 8 4 89
8 9 4 89 4
6 ,6 8 4
25
26
25
24
25
25
25 4
24
244
24
2 4 4 U S R e a lt y & C o n s t r u c t io n
25 4
4 ,2 4 1
0 9 34 09 4
69 4 70
D o p r e f ...........................
69 4 7 0
6 9 4 70 4
69 4 7 0 4
69 4 69 7s
420
*17
1 7 34
1 6 4 17
* 1 6 4 1 7 4 * 1 6 4 1 7 4 * 1 6 4 1 7 34 * 1 6 34 1 7 4 U n ite d S ta te s R u b b e r ___
100
*55
56
*51
*54
56
52
52
D o p r e f ...........................
56
*5 3
56
*52
56
3 6 4 37 4
3 7 3q 3 7 4
37 '4 3 7 4
3 7 4 3 7 4 U n ite d S ta te s S t e e l............ 5 0 ,9 5 0
36*4 3 6 7*
3 7 3s 3 7 7h
36 5s 8 6 ?s
D o p r e f ........................... 2 1 ,5 2 7
8 7 4 87 4
87
874
8 6 4 87 4
87 4 8 7 4
8 6 78 87 4
65 0
*61
6J
62
62
63
63
V ir g in ia -C a r o lin a C lie in ..
62 4 62 4 *6 2
62
62 4 * 6 2
10 0
*121
123
*12 L 123
*121
130
1 2 2 122
D o p r e f ...........................
*1 2 1
123
♦121 1 2 8
25
2 9 4 2 9 4 V u lc a n D e t i n n i n g ..............
$30 4 3 0 4
8 0 3 80 4
4
100
D o p r e f ...........................
80 4 80 4
*210
2 35
*2 2 0
240
*220 240
*220
235
\\J e lls ," F a r g o & C o ........
*220 240
*220 240
i,7 io
1
90
9 0 4 t V e s t ’ 1 U n io n T e le ’ g p h
8 9 4 894, ♦ 8 9 4 9 0 4
90
90 4
9 0 4 9 0 4 $ 9 0 78 90 7g
1 ,5 0 0
216
*215 4 2 2 0
W e s t’ g li’ seE l& A J I g a s s e n
*213
♦215 2 2 0
♦214 2 2 0
*209 215
2154218
*
30 0
*220 240
D o 1 s t p r e f ....................
* .......... 2 2 0
220
*215 229
*210
218
*215 2 20
7 4 34 76*e
*79
81
7130 72*4
27
27
6 17s 02
63 70 64*2
34*8 35
* 9 4 34 95*2
*95
98
39*2 4 0
125
125
35
35
30
30^0
*44
40
* 1 2 0 3 121
4

16
5
19
26
30
30
3
2
7
21
20
5
2
22
2
12
3
30
24
10
23
8
24
2
22
24
13

83*4 J a n
81*2 J a n
7 4 1 Jan
2
30 Jan
66 Jan
68 *e J a n
3 6 7& Jan
95*2 J a n
95 Jan
43 Jan
1 2 8 7a J a n
37-38 J a n
3 1 78 J a n
48 J a n
122*4 J a n
159 J a n
104*8 J a n
95
Jan
2 2 38 J a n
64**2 J a n
3 2 *8 J a n
47*gJan
27 J a n
59*2 J a n
3 0 7 Jan
e
2 7 3i J a n
54 Jan

5 5 34 Jan
30
12 77 D e c
30
65 *2 D e c
7 24*2 D e c
7 55*4 M ar
9 56 D ec
9 28 D ec
8 9 34 D e c
17
19 9 0 M ay
9 37 D e c
2 122 J a n
32 *2 N o v
12
9 18*2 J a n
8 35 Jan
23 107 Jan
12 156*4 A u g
9 93 *2 D e c
27
8 6 M ar
13 2 0 D e c
6 60 D ec
9 2 1 34 J a n
9 37 D e c
9 17 J a n
13 49*12 J a n
9 28 Jan
9 19 *8 J a n
6 39*2 J an

8 5 * 2 J ’ iy
90 J ’ ly
8038 J ’ ly
39
Aug
80
S ep
81*4 S ep
4 1 3h A u g
98*12 A p r
93 N o v
5 4 34 S ep
134
Feb
3 8 S ep
33*4 O c t
4 9 3 S ep
4
129 A u g
159*12 F e b
113*4 A u g
95
Aug
2 4 78 O ct
66 N o v
38*8 S ep
5 4 4 S ep
30*4 S ep
66 A p r
4 2 38 S ep
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M -S
1 0 8 ” S e p ’ 02

M -S
A -O
J -J
F-A
JO

1 1 8 % S a le 118*8 118*8
101
..........
103 A p r ’ 97
128
1 2 8 * 4 .......... 1 2 8
125%
125%
.......... 1 2 6

J -J
J -J
J -D 103 103*2
A -O 1 2 1 % Sale
A -O
A O ’ 1 1 4 * 2 ..........
J -D
J -J
104
104*2
M -S 108 >2 109 ‘8
M S

J -D
M-N
F -A
F -A
M-N
M-N
O ct
O ct
oct
J -D
J -J
J -J
J -J
J -J
Q-J
J -J
J -J

92*2

94*2

103

10 1 1 8 % 118*8
4 128
3 125

J ’ n e ’ 02

103
103*2
121% 121%
1 2 4 % F e b ’ 02
1 1 8 J a n ’ 02

4 102% 103*2
6 121 % 122

2 103% 104*4
104
104*4
108% J a n ’ 03 •••• 108% 108%
1 0 6 % D e o ’ 02

93

J ’ n e ’ 02

1 0 7 * 2 .......... 107*2 D e c ’ 02
.......... 122*2 122*2 J a n ’ 03
108*4 109

108*2 1 0 8 %
105 *2 S e p ’ 01
7 8 *2 S a le
78
79
37 *4 Sale
37
38*2
‘ 26
28
25*2
20%
92 A u g ’ 02
108*4 S ep"’ 02
102 " j ’ n e ’ 99
1 1 2 % A p r ’ 02
133%
133%
133*2 J a n ’ 03
1 1 3 * 4 .......... 113 J a n ’ 03
•••••• - ---• - - - - - - - ........ —

122% 122%
17 1 0 6
22
61
9

7b %
37
25%

___
i
••••
....
....

80
39%
27

PAGES

BONDS
N. Y. STOCK E X C H A N G E

W eek E nding J an 30

C
O

•
•

•
t
•

M a r ’ 98

— . . . . . . .. . . . .

1 2 0 S a le 120
120
1 1 6 % .......... 116% J a n ’ 03

i i 8 % i ‘2 0
116% 116%

• N op rice Friday; latest price this week,

a Due Jan

d Due Apr

B id

W eek? 8

R ange or
L a st .s a le

'g R ange
§•5
Sircce
^ < J anu ary Z

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10 1 34 102*2
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103 104
101% bale

U 0 % 1 1 3 % 109*0 N o v ’ OL
I 1 3 7s 11 5 ^ 1 13 y4 J a n ’ 03 .- - !'1 1 3 34 n 4
119
.......... 1 1 9 % 119
4 118*2 1 1 9 34
121 J ’ n e ’ Ol •*• ....... ...............
100 Sale 106
100*2 2 0 103 3 *1 0 6 **
103 A p r ’01
111
N o v ’ 02
102
1013i 102
101*2 1 0 2 *^,
95
9b
9 6%
96 J a n ’03
108*4
106*2 O c t ’ 02

...

112

10 0
.......... 101
D e c ’ 02
.......... 83*4 83*4 J a n ’ 03
7 8 Sale
78
78*2
8 3 34 Aj>r ’02
i b l % S a le 101*2 101*2

1^

82 78 83*->
73
79*i»

64 101

102

1 0 4 34 A p r ’ 0 0

1 0 1 % .......

10136 J a n ’ 0 3
96*4
97

112*4
104*8
*107%
98%

107

109

ii7 % ii8 %
109*8110*4
13 6 *2..........
121 c8 S a le

120 %
1 2 8 7e 130

111

111 %

114

i i i *4
1 1 1 ** S ale

2b

1013e 101 3g
96*4 9 7

114 *8 A u g ’ 02
104*8 J a n ’ 03
1 0 7 34 1 0 7 34
109^2 A u g ’ 01
1 00 M a r ’ 02

96*4 S ale

12

104*8 104*8
107 1073
4

107
117*8
1 10*4
136
121*4
12 0
120*8

J a n ’ 03
J a n ’ 03
J a n ’ 03
D e c ’ 02
121*8
D e c ’ 02
J a n ’ 03

1 0 6 34 10 7
117 117*8
110 110*4

16 120*2 121*8
126" i 2 0 «;

132

N o v ’ 02
113*0
111*8 J a n ’ 03
194*2 O c t *02
113*8 D e c ’ 02

113*8113*8

113*8

111*2

111

1 10*8111*8

111*2

11138112

D e c ’ 02
1 0 4 34 J a n ’02

115 %
117**
1 1 3 % 115

120*2 A rar’ 02
121*2 O ct ’ 02

1 1 3 34 1134j
117*2 J a n ’ 03
111 *2 J a n ’ 03
1 3 0 78
137*2 J ’ l y ’ 99
119*2 120 122 O c t ’ 02
107*8 A u g ’ 02
107*8
191*2 O c t ’ 02
114*8 11 7 116 S ep *02
107%
109 O c t ’ 02
1133s
11330
113*2
1123
4
1 1 2 34 J a n ’ 0 3
115**
118*8 N o v ’ 02
117 M a r ’ 02
113*8
120*2 A u g ’ 02
118*8
134 135 133
13 4
103 N o v ’ 02
102 O c t ’ 02
104
105 D e c ’ 02
106-k O c t ’ 02
1033s 104 *2 D e c ’ 02
103 N o v ’ 98
114*2
115*2 J ’ ly ’02
1 1 2 **
111 O c t ’ 00
107
109
D e c ’ 02
107*2 J a n *03
107 109*2 108 J a n M»3
105*2 D e c ’ 02
112 S ale* 112
112
114
O c t ’ 01
117*2119 118 J a n ’ 03
123 A lay ’ 01

1 1 S 34 1 1 3 34

117*8
111 %

117 117*2
111 *2111*8

1 12*2113*2
1 1 2 34 1 1 2 34

9 133

134

107*2 1 07**
108
10S

112

112

118

118

112*2 ........

10 6 N o v ’ 02
10 8 O c t ’ 02
107
O c t ’ 02
113*4
116*2 J ’ n e ’ 02
1 3 2 *h 17
132*8 S ale 132*8
126
125 J a n ’ 03
137
142 *2 F o b ’ 02
134**
1 3 9 34 J a n ’ 02
104
107*8 F e b ’ 01
114*4 S ep ’ 02
1 2 6 34
129 D e c ’ 02
1 2 6 3 128*4 1 2 6 *2 J a n ’ 03
4
106 S ale 10 6
10 7 34 474
107 J a n ’ 03
10030 J ’ l y ’02
9 9 7 J ’ n e ’ 02
e
99*2 J ’ lv ’ 02
993g J ’ n e ’ 02
87
S a le
86
873s 1844
88*4 J a n ’0 3
96*2
97 *2 D e c ’ 02
93
93
92*2
9 4 3 J a n ’ 03
4
95*8
110*2 A p r ’ 02
1 0 6 * 4 ........

107*2110

136*8137

137
134

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

1 2 5 34 ........
85
86

131*0 1 3 2 %
125 1 2 5

1 26 *2 1 2 6 **
106 108
1 07
107

86
88*4

89
8 S%

92*2 93
9 4 34 9 4 %

136*8 J a n ’ 0 3 . . . . 135 k 1 3 6 %
1 3 4 3< J a n ’ 03
1 3 4 34 134*4
137 *2 S ep ’ 02 . . . .
126*8 J a n ’ 0 3 . . . . 126 1 2 6 %
86
85
85
11 8 4

B O N D S —C o n t in u e d o n N e x t I 'a g e .

S tr e e t R a il w a y
106%
3 105
107*4 A le t S t R y —(C o i l ) K e f g 4 s2 0 0 2
Col<fe 9 th A v l s t g u g 5 s . 1993
J a i l ’ 99
M a y ’0 2
L e x A v & P F 1 st g u g 5 s 1993
102
102%
J a n ’ 03
T h ir d A v e R R c o n g u 4 s 2 0 0 0
104% "7 8 1 0 2
104*4
T h ir d A v e R y 1 s t g 5 s . .1 9 3 7
8 9 % A let W S E l (C h ic ) 1 st g 4 s . 1 938
4
89
8 5 % 8 5 % M il E l R y Sz L 3 0 -y r g 5 s . 1926
J a n ’ 03
M in n S t R y 1st c o u g 5 s . . 1919
9 9 % O c t ’ 02 — ...................... S t P a u l C ity C a b c o n g 5 s . 1937
9 6 J ’ n e ’ OO
G u a r a n te e d g o ld o s ..........1937
U n io n E l (CI110) 1st g 5 s . . 1945
W C h ic S t 4 0 -y r 1st c u r 5S .1 9 2 S
103 N o v ’ 01
4 0 -y e a r c o n s o l g o ld 5 s . . . 1936

........ ............. 109

T r ic e
F r id a y
Jan 30

~ v

C e n tr a l o f N J —(C o n t in u e d )
L e h So W ilk s B C o a l 5 s . . 1912 MC on e x t g u a r 4 % s ----- p i 9 1 0 QN Y So L o n g B r g e n g 4 s 1941 MC e n t P a c ific See S o P a c ific C o
C h a rle s So S a v 1 st g 7 s ___ 1930 Jd i e s So O h io g Os s e r A ../< 1 9 0 8 A
G o ld 6 s .................................a l 9 1 1 A
1 s t c o n s o l g 5 s .................... 1939 M
R e g i s t e r e d ........................ 1939 M
G e n e r a l g o ld 4**8...............1 9 9 2 MR e g is t e r e d ........................ 1992 M
C r a ig V a lle y 1 s t g 5 s ___ 1940 J K So A D iv 1 st c o n g 4 s . . 1989 J2 d c o n s o l g 4 s ...................1989 JW a r m S p r V a l 1 st g 5 s . .1 9 4 1 MG r e e n b r ie r R y l s t g u g 4s ’ 40 JC h ic So A l t R R s fu n d 6 S ..1 9 0 : M
R e fu n d in g g 3 s ...................1949 A
R a i l w a y 1 st lien 3 % s . . . l 9 5 0 J R e g is t e r e d ........................ 1950 J C lilc B u r So Q c o n s o l 7 s . . . 1903 J
C h i c & I o w a D iv 5 s .......... 190.' F
D e n v e r D iv 4 s .................... 1922 F
I l lin o is D i v 3 % s .................1949 J R e g i s t e r e d ........................ 1 9 4 9 J I o w a D iv s in k fu n d 5 s . . 1919 A
S in k in g fu n d 4 s ...............1919 Ai
N e b r a s k a E x t e n s io n 4 8 .1 9 2 7 .V
R e g i s t e r e d ........................ 1927 MS o u th w e s te r n D iv 4 s ___ 1921 MJ o in t b o n d s S ee G r e a t N o r th
D e b e n t u r e 5 s ...................... 1913 MH an So S t J o s c o n s o l 6 s . . 1911 M
C h ic So E 111 1st s f c u r 0 8 .1 9 0 7 J 1 st c o n s o l g 6 s .....................1934 A
G e n e r a l c o n s o l 1 s t 5 s ___ 1937 MR e g i s t e r e d ........................ 1937 MC h ic Sc I mi C R y 1st 5 s . 1936 J
C h ic a g o So E r ie S ee E r ie
C h ic f n So L o u is v r e f 6 s . . .1 9 4 7 J R e fu n d in g g o ld 5 s ............ 1947 J L o u i s v N A So C h 1 st 6 8 .1 9 1 0 J C h ic A lii So S t P a u l c o n 7 s 1 905 J T e r m in a l g o ld 5 s ...............1914 J G e n e r a l g 4 s s e r ie s A . . e l 9 8 9 J R e g i s t e r e d ..............................e l 9 89
G e n e r a l g 3 % s s e r ie s B .e l9 8 9 t .
R e g i s t e r e d ..............................e l 9J89
C h ic So L S u D iv g 5 s ___ 1921 J
C h ic So A lo R iv D iv 5 s . ..1 9 2 6 J
C liic So P a c D iv 6 s ............ 1 9 1 0 J
C h ic So P W 1 st g 5 s ........ 1921 J
D a k So G t S o g 5 s ...............1916 J
F a r So S o u a ssu g 6s ........ 1924 J
H a s t So D D iv 1 s t 7 s ........ 1 9 1 0 J
1 s t 5 s ....................................1 9 1 0 J
I So D E x t e n 1 st 7 s .......... 1 9 0 8 J
L a C r o s s e So I) 1 st 5 s ___ 1919 J
A lin e r a l P o in t D iv 5 s ___ 1910 J
S o M in n D iv 1 st 6 s .......... 1910 J
S o u t h w e s t D iv 1 s t 6 s ___ 1909 J
W i s So M in n D iv g o 8____1921 J
A lii So N o 1 s t M L 6 s . .. . 1 9 1 0 J
1 s t c o n s o l 6 s .................... 1 9 1 3 J
Chic<fc N o r t h w c o n s 7 s ___ 1915 Q
G o ld 7 s ....................................1902 J
R e g i s t e r e d ........................ 1902 J
E x t e n s io n 4 s .......... 1 8 8 6 -1 9 2 6 F
R e g i s t e r e d ............ 1 8 8 6 -1 9 2 6 F
G e n e r a l g o ld 3 % s ...............1987 M
R e g i s t e r e d ............................ p i 98 7
Q
S in k in g fu n d 6 s . ..1 8 7 9 -1 9 2 9 A
A
R e g is t e r e d ............ 1 8 7 9 -1 9 2 9
S in k in g fu n d 5 s . ..1 8 7 9 -1 9 2 9 A
R e g i s t e r e d ............ 1 8 7 9 -1 9 2 9 A
D e b e n t u r e 5 s ...................... 1909 M
R e g i s t e r e d ....................... 1 9 0 9 AI
D e b e n t u r e 5 s ...................... 1921 A
R e g i s t e r e d ........................ 1921 A
S in k in g fu n d d e b o s ........ 1 9 3 3 M
R e g is t e r e d ........................ 1933 M
D e s M o <fc M in n 1 st 7 s . .1 9 0 7 F
M ilw <fc M a d is o n 1 s t 6 s . . 1905 AI
N o r t li I l lin o is 1 s t 5 s ___ 1 9 1 0 M
O tt C F So St P a u l 1st 5 s 1909 M
W in o n a So S t P e t 2 d 7 s . . 1907 M
M il L S <fc W e s t 1 st g 6 s 1921 M
E x t & Im p s f u n d g 5 s 1929 F
A s h la n d D iv 1 s t g 6 s . . 1925 M
MLoll D iv 1st g 6 s ..........192 4 J
C o n v e r t ib le d e b 5 s ___ 1907 F
I n c o m e s ............................ 1911 M
C h ic R o c k I s l So P a c 6 s . . .1 9 1 7 J
R e g i s t e r e d ........................ 1 9 1 7 J G e n e r a l g o ld 4 s ...................1 988 J
R e g is t e r e d ........................ 1 9 8 8 JC o ll t r u s t S e n e s C 4 s .. . 1 9 0 5 M
H 4 s ......................................1910 MM 4 s ......................................1915 MN 4 s ..................................... 1 9 1 6 MC h ic R I So P a c R R 4 s . . 2 o o 2 M
R e g i s t e r e d ....................... 2 0 0 2 AI.
D es AI So F t D 1 st 4 s . . ..1 9 0 5 J •
1 s t 2 % s................................1905 JE x t e n s io n 4 s .................. 1905 JK e o k So D e s M 1 st 5 s ___ 1923 AC hictfe St L See A t c li T Sc Sa Fe
C h ic S t L So N O S ee 111 C e n t
C h ic S t L Sc P itt s Nee P e n n C o
C h ic S t P M Sc O c o n 6 s . . . 1930
C h S t P & M in n l s t g 6 s 1 9 1 8
N o r W is c o n s in 1st 6s . . . 1 9 3 0
S t P Sc S C ity 1 st g 6 s . . .1 9 1 9
C h ic a g o T e r T r a n s g 4 s . . . 1947

106%
110
10 8
.......... 11 4
102
.......... 102
1 0 3 % Sale 103%
8 9 S a le
S9
*8 8 % 89
85%
•

1 0 6 % 107

109

133 % 134
132% 133%
113
113
........ . . . . . . .

A IlS C E IiliA N K O liS
S tre e t R a ilw a y
B r o o k ly n R a p T r g 5 s ........ 1945
A t l A v B k ly n im p g 5 s . . 1934
B k C it y 1st c o n 5 s . 1916, 1941
B k Q C o Sc S c o n g u g 5 s . 1 9 4 1
B k ly n U 1 E l l s t g 4 -5 S .1 9 5 0
1
K i n g s C o E l 1 s t g 4 s ___ 1949
N a s s a u E le c g u g 4 s ___ 1951
C ity Sc S R y B alt 1st g 5 s . 1922
C o n n R y & L 1st Sc r e f g 4 *28 ’ 51
D e n C on T r C o 1 st g 5 s . . . 1933
D e n T ra m C o c o n g 6 s . . 1910
M e t R y C o 1 st g u g 6 s . . 1911
D o t C it St R y 1st c o n g 5 s . 1905
G r R a p id s R y 1 st g 5 s . . . n l 9 l 0
L o u is R y C o 1st c o n g 5 s . . 1930
M a r k e t S t C R y l s t g 6s . . 1913
M e t S t R y g e n c o l tr g o s . 1997
B w a y tfc 7 th A v 1st e g 5 s 1943

128
126%

FOUR

F-A
FA
J -J
J -J
J -J
AO
M -X
M-N

( l a s a n d E le c t r ic L ig h t
A tla n ta G L C o l s t g o s ' . .1 9 4 7 J -D
B os U G a s tr c t f s s f g 5 s . 1939 J - J
B k ly n U G a s 1 st c o n g 5 s . 1945 M-N

t Due .May g Due

j

ne

4. Due

ly

v Due Aug

....

ia
95%
96
121
J a n ’ 03
121
D e c ’02
98
9S% 'V i
122 J a n ’ 03
102% 1 0 2 %
106 O c t ’99 3
110 J ’ n e ’ 02 . . . .
i ‘0 6 % *"
.......... 1 1 4 % N o v ’ 01
112

95
90
1 21
..........
121
..........
98
S ale
119
121%
.......... 1 0 2 %

95
,121

96%
121

! 97% 98%
122
122
102% 102%

....

......................
99

D e c '97

9 1 % O ct *98
116%
i i 6 % i l 6 78 1 1 6 %

p Due N or

<zDue Deo

ii

i ’1 0 % i i f ^

^Option

sal#

Bond Record— Continued— Page

252
BONDS
N . Y. STOCK E X C H A N G E

?-2.
V

W eek Ending J a n 30
C h ic & W e s t I n d pen g 6s <71932
C liic So W e s t M ich By 5 s ..1021
C h o c O k So G g en g 5s ...0 1 9 1 9
C m H So D co n so l s f 7 s . . . 1905
2d g old 4 4 s ......................... 1937
C in I) & I 1st g o g 5 s . .. 1941
C [ St L & C S e e C C 0 <fc S t L
C in S A C See C C C St L
C learfield & M ali See B R A P
C le v e la n d C in C h ic A S t L o o m
G en era l p 4 s ....................... 1993
C airo D lv 1 st g old 4 s ___ 1939
C in W A M D iv 1 st g 4 s . 1991
St L D iv 1st ool tr g 4 s ..1 9 9 0
R e g is te r e d ....................... 1990
S p r A Col D iv 1st p 4 s .. 1940
W W V a l D iv 1st g 4 s . . . 1940
C I S t L A C co n so l 6 s .. 1920
l e t gold 4 s ............. . ..£ 1 9 3 6
R e g is t e r e d ................ fcl9 3 6
Cin S A Cl con 1st g 5 s .. 1928
C C C A I co n so l 7 s ..........1914
C on sol sin k fn n d 7 s ___ 1914
G e n e ra l co n s o l g old 6 s. 1934
R e g is te r e d ................... 1934
In d B l A W 1st p r e f 4 s . 1940
O In d A W l s t p f 5 s . . . d l 9 3 8
P e o A E ast 1st con 4 s . . .1 9 4 0
In c o m e 4 s .........................1990
Cl L o r A W li c o n 1st p o s . 1933
C le v A M a rietta See P e n n R R
C le v A M ah on V al g 5 s . ..1 9 3 8
l
R e g is te r e d ....................... 1938
C le v A P itts See P en n Co
C o l M id lan d 1st g 4 s ..........1947
C olora d o A Sou 1st g 4 s . . . 1929
C olu ni A G re e n v See So R y
C ol A H o c k V al See H o c k V al
C ol C on n A T erm See N A W
C onn A P as R iv s 1 st g 4 s . 1943
7 \ak A G t So See C M A St P
J "alias A W a co See M K A T
D e l L a ck A W e s te r n 7 s . . . 1907
M o rris A E ssex I s t 7 e . . . l 9 1 4
1 st c o n s o l g u a r 7 s ........1915
R e g is te r e d ....................1915
1 st r e f g u g 3 4 s ............ 2000
N Y L a c k A W 1st 6 s . . .19 2 1
C on stru ctio n 5 s ........... 1923
T erm A im p ro v e 4 s ___ 1923
S y r B in g A N Y 1st 7 s .. 1906
W a rre n 1st r e f g u g 3 4 s . 2000
D el A H u d 1st P a D iv 7 s .1917
R e g is te r e d ....................... 1917
A lb A Sus 1st c o n g u 7 s. 1906
R e g is te r e d ....................... 1906
G u a r g old 6 s ................... 1906
R e g is te r e d ....................1906
R e n s A S aratoga 1st 7 s. 1921
R e g is te r e d ....................... 1921
D e l R iv R R B rid g e See P a R R
D e n v A R G r 1st con g 4 s. 1936
C on sol g old 4 4 s ................1936
I m p r o v e m e n t g old 5 s . . . 1928
R io G r So g u See R io G r So
D e n A S W e s t g e n s f g 5s 1929
D e s M o i A F t D See C R A I P
D e s M A M in n See Ch A N W
D e s M oi U n R y 1 st g 5 s ..1 9 1 7
D e t M A T o l See L S A M So
D e t A M a ck 1st lien g 4 s . 1995
G o ld 4 s .................................. 1995
D e t S ou 1 st g 4 s ..................1951
O h io S ou D iv 1 st g 4 s ...1 9 4 1
D u l A Iro n R a n g e 1 st 5 s .. 1937
R e g is te r e d ........................... 1937
2d 6 s ......................................1916
D u l S o S h ore A A tl g 5 s ..1 9 3 7
' a st o f M in n See St P M A M
ja st T e n V a A Ga See S o R y
E lg in J o l A E ast 1st g 5 s . 1941
E fin C o rt A N o See L eli A N Y
E r ie 1st e x t g old 4 s .............. 1947
2 d e x t g old 5 s ..................... 1919
3 d e x t g old 4 4 s ..................1923
4 th e x t g old 5 s ....................1920
5 th e x t g old 4 s ................... 1928
l e t c o n s o l g old 7 s .............. 1920
1 st co n so l g fu n d 7 s........1920
E r ie 1st con g 4s p r io r .. 1996
R e g is t e r e d ....................... 1996
1st c o n s o l g en lie n g 4 s ..1 9 9 6
R e g is te r e d ....................... 1996
P e n n co ll tr g 4 s .............. 1951
B utt N Y A E rie 1st 7 s .. 1916
B utt A S W g old 6 s ..........1908
S m a ll.................................. 1908
C h ic A E rie 1st g old 5 s .. 1982
Jett R R 1 st g u g 5 s ___ a 1909
L o n g D o ck co n so l g 6 s .. 1935
C oa l A R R 1st c u r gu 6 s. 1922
D o c k A Im p 1 st c u r 6 s ..1 9 1 3
N Y A G reen L gu g 5 s. 1946
M i d R R o f N J 1st g 6 s . 1910
N Y S n s A W 1st re f 5 s. 1937
2d g old 4 4 s ..................... 1937
G e n e ra l g old 5 s .............. 1940
T e rm in a l l s i g old 5 s . . . 1943
R e g is $ 5 ,0 0 0 e a c h ... 1943
W ilk A Ea 1st gu g o s . 1942
E r ie A P itts See P en n Co
E v a n s A T H 1st co n s 6 s . 1921
1st g en era l g old 5 s ..........1942
M t V e r n o n 1st g old 6 s ..1 9 2 3
B ull C o B ran ch 1st g o s . 1930
E v A In d 1st con gu g 6 s .. 1926
L 'a r g o So S o See Ch M A St P
-L lin t A P e r e M See P ore M ar

1

P r ic e
F r id a y
Jan 30
Bid
118
100
107

A sk
1164
..........
.........

W eek's
R ange or
L a st S ale

0
9

R ange
S in ce
s -s
C Q J a n u a ry 1
$C

BONDS
N. Y . STOCK E X C H A N G E
W e e k E n d in g J a n 30

Low
H ig h N o Low H ig h
1 1 6 4 Nov*02
109 A p r ’ 02
1 1 4 4 M ay’02
1 1 1 4 D e o ’0i
113 O ct ’ 00
10 1 1 4 4 1 1 5
1 1 4 4 116

F la Cen & P en 1 st g 5 s . ..1 9 1 8
1 st la n d g r e x t g o ld 5 s .. 1930
n
C on sol g o ld 5 s ...................1943
j -j
AO
F o rt S t U D O o 1 st g 4 48 -1 9 41
F t W So D en C 1 st g 6 s .. ..1 9 2 1
J -J
M-N 115 Sale
F t W So R io G r 1 st g 3-4 s. 1928
/ i al H a r So S A See S o P a c Co
V X a lH So H o f 1882 1st 5 s. 1913
G a & A la R y 1st co n 5 s ..o l9 4 5
G a Car So N o 1 st gu g 6 s .. 1929
6 9 9 4 103
1014 1014
G e o rg ia P a c iiic See So R y
J -D ..........101
G ila V G So N o r See S o P a c Co
J -J 100 .......... 1 0 1 4 O c t ’ 02
9 8 .......... 100 J a n *03
100 i d o
G o u v So O s w e g a t See N Y C ent
J -J
7 102 1 0 2 4 G ran d Rap<fc In d See P e n n R lt
102 4
M-N 102 1 0 3 4 102
103 O ct *02
G r a y ’ 8 P t T e rm See S t L S W
M-N
9 9 4 1 0 1 4 102 D e o ’ 02
G t N o r —C B & Q co ll t r 4 s 1921
M -S
83 N ov*99
J -J
G r e e n b r ie r R y See C lies So O
G u lf S I I s t r e f & t g 5s 51952
M-N
1 0 2 4 J a n *03 •••• 1 0 2 4 i0 2 4
an & S t J o See C B So <4
Q-F 102 i o s
o u sa to n ic See N Y N H So H
Q -F
1 1 2 4 .......... 115 N o v ’ 02
H o c k V a l l s t c o n 8 o l g 4 4 8 .1 9 9 9
J -J
1 2 4 4 ......... 134 4 J a n ’ 02 — •••••• •••••«
R e g is te r e d ...........................1999
C ol < H V 1 st e x t g 4 s . . 1948
fe
i ’s i ‘4 ......... 1 3 1 4 J a n ’ 03 . . . . 1 8 1 4 1 3 1 4 H o u s t E So W T e x See S o P a c
..........133
H o u s t So T e x C en See So P a c Co
1 0 4 4 N o v ’ 01
llin o is C en tra l 1 st g 4 s . . 1951
R e g is te r e d ....................... 1951
34 9 8 4 100
99 4 Sale
994
100
1st g o ld 3 4 s ....................... 1951
80
8 1 4 85 78
8 0 4 Sale
82
R e g is te r e d ....................... 1951
A pr
1 st g o ld 3s s te r lin g ..........1951
A O 1 1 4 4 .......... 114 D e c ’ 02
R e g is te r e d ....................... 1951
C oll T r u s t g o ld 4 s ........... 1952
J -J 1 2 0 4 ......... 128 J ’n e ’ 02
R e g ls te r e d ....................... 1 9 52
Q-J
L N O So T e x g o ld 4 s . ...1 9 5 3
16 7 8 4 8 0 4
7 9 4 Sale
R e g is te r e d ....................... 1953
794
794
J -J
9 3 S ale
C airo B r id g e g o ld 4 s ___ 1950
92 4
9 4 4 104 9 2 4 9 4 4
F-A
L o u is v ille D iv g o ld 3 4 s . 1953
R e g is te r e d ....................... 1953
M id d le D iv r e g 5 s ........... 1921
S t L o u is D iv g o ld 3 s ___ 1951
A -0
R e g is te r e d ....................... 1951
G old 3 4 s . . . ..................... 1951
•••- 115 117
117 J a n ’ 03
R e g is te r e d ................... 1951
M -S 1 1 0 4 1 1 7
S p r in g D iv 1 st g 3 4 e . ..1 9 5 1
132*4 1 3 3 4
M-N 1 3 3 4 .......... 1 3 3 4 J a n ’ 03
.... 1 3 4 4 1 8 4 4
W e ste r n L in e s 1 st g 4 s. .1951
J -D 1 3 4 4 ......... 1 3 4 4 Jan ’ 03
140 O ct ’ 98
R e g is te r e d ....................... 1951
J -D
B e lle v So Car 1st 6 s ........1923
J -D
i~31 ......... 13238 D e c ’ 02
C arb So S haw 1 st g 4 s . . . 1932
J -J
1 1 5 4 A u g ’ 02
C h ic S t L & N O g 5 s . . .1 9 51
F-A 118
3 103 1 0 8
103
R e g is te r e d ....................... 1951
M-N 102 4 ......... 103
1 1 1 4 .......... 112 N o v ’ 02
G o ld 3 4 s ...........................1951
AO
1 0 3 4 O ct ’ 02
R e g is te r e d ....................1951
F -A
.......... 1 4 0 4 D e c ’ 02
M em p li D iv 1 st g 4 s . ..1 9 5 1
M - S 141
149 A u g ’ O l
R e g is te r e d ................... 1951
M -S
S t L S ou 1 st g u g 4 8 ___ 1931
A -0 i i i ~ 4 ......... 113 A u g ’ 02
122 J ’ n e ’ 99
In d B l So W e s t See C C C & S t L
A-O
106 O c t ’ 02
In d D e c So W 1 st g 5 s ........1935
A -0 1 0 7 4 . .
11138 F e b ’ 02
1 st g u a r g o ld 5 s ..................1935
A -0
.......... 14334 N o v ,02
I n d 111 So l a 1 st g 4 s ..........1950
M-N i i i
I n t So G re a t N o r 1 st g 6 s ..1 9 1 9
M-N 142 .......... 147 4 J ’ n e ’ 02
2d g o ld 5 s .............................1909
76 9 8
9 8 4 Sale
98
99
3d g old 4 s ............................ 1921
994
J -J
6 1 0 4 4 1 0 6 4 I o w a C en tra l 1 st g o ld 6 s .. 1938
J -J 1 0 5 4 ......... 1 0 5 4 1 0 5 4
12 105 107
107
R e fu n d in g g 4 s ................. 1951
J - D . . . . . . 1 0 7 4 105
J e ffe rso n R R See E r ie
14 7 9 4 80
704
80
al A So G R See L S So M S
J -D . . . — 80
an So M ich See T o l & O C
K C F t S So M See S t L & S F
.......... 111 F e b *01
K C<fc M R<fc B 1 st g u g 6 8 .1 9 2 9
M-N 1 0 5
K a n C So P a c ific See M K & T
9 0 .......... 102 4 O ct *02
K a n C ity S ou 1 st g o ld 3 s .. 1950
J -D
9 2 4 ......... 9 3 4 A u g ’ 02
R e g is te r e d ...........................1950
J -D
8 4 J a n ’ 03
K e n tu c k y C e n t See L So N
84
85
J -D
To 8 9 92 K e o k So D e s M o See C K I & P
92
91
9 2 4 91
M-S
K n o x v ille So O hio See So R y
A -O 1 1 2 4 .......... 1 1 4 D e c ’ 02
ak e E r ie & W 1 st g 5 s .. 1937
A -O
2d c o ld 5 s ......................... 1941
J -J
6 11141144
N o r tn O h io 1 st g u g 5 s .. 1945
113
J -J 112 4 1 1 4 4 112
L S h o So M ich S See N Y C ent
L e h ig h V a l (P a ) c o ll g 5 s. 1997
R e g is te r e d 5 s ..................... 1997
M-N 1 1 2 4 ......... 1 1 4 4 J a n *03
L eh V a l N Y 1st g u g 4 4 s . 1940
R e g is te r e d ........................... 1940
M-N 1 1 4 4 .......... 1 1 6 4 D e c * 0 2
L e h V T e r R y 1 st g u g 5 s .1941
M -S 1 1 7 4 ........ 1 1 9 4 J ’ n e ’ 02
R e g is te r e d ...........................1941
M-S 1 1 4 4 ......... 1 1 6 4 A p r ’ 02
L eh V C oal Co 1st g u g 6 s. 1933
A - O 1 1 8 4 .......... 117 D e e ’02
R e g is te r e d ...........................1933
J -D 1 0 3 4 .......... 1 0 9 4 J a n ’ 02
L eh So N Y 1 st gu a r g 4 s . .1 9 4 5
139 139
M -S 138 .......... 139 J a n ’ 03
R e g is te r e d ...........................1945
136 S e p ’ 02
M -S
E l C & N 1 st g l s t p f 6 8.1914
9 8 4 Sale
984
0 8 4 27 97*8 98*4
G old g u a r 5 s ................... 1914
9 8 J a n ’ 03
98
98
873s Sale
8 6 38
8 7 4 428 84*4 8 7 4 L eh So H u d R See C e n t o f N J
L eh So W ilk e s b See C e n t o f N J
150 9 2 4 9 4 4 L e r o y So C a n ey V a l See M o P
94 Sale
F-A]
934
94
6 129 1 3 0 4 L o n g D o c k See E rie
J-D 1 2 8 .......... 129
1304
L o n g Isla n d 1 st con g 5 s . /tl9 3 1
J -J
1 st c o n s o l g o ld 4 s ........../il9 3 1
J -J
G e n e ra l g o ld 4 s ..................1938
M-N I 2 d 4 i 2 i 4 1 2 1 4 J a n ’ 03 — 1 2 1 4 1 2 1 4
F e r r y g old 4 4 s ..................1922
A -0 1 0 4 ......... 106 A u g ’ 02
G o ld 4 s .................................. 1932
A O 1 3 4 4 1 3 4 34 1 3 4 4 J a n ’ 03 . . . . 1 3 4 4 1 3 4 4
U n ifie d g o ld 4 s ..................1949
M-N 1 1 4 4 ......... 11334 D e c ’ 02
D e b e n tu r e g o ld 5 s ........... 1934
J -J
1 1 4 4 .......... 1 1 8 4 A p r ’ 02
B k ly n So M o n t 1 st g 6 s ..1 9 1 1
M-N 1 0 8 ......... 109 O ct ’ 98
1 st 5 s .................................. 1911
A -0 1 1 2 4 ......... 1 1 2 4 D e c ’ 02
N Y B & M B 1st co n g 5 s 1935
3 113 i l 4
114
114
J -J
N Y & R B 1st g 5 s ........1927
103 103
F-A i()2 i o i
103 J a n ’ 03
N o r S liB 1st co n g g u 5 s o l9 3 2
F -A 107 .......... 1 0 6 4 J a n *03
1064 1064
L o u isv So N a sliv g e n g 6 s. 1930
M-N 1 1 6 4 ........ 115 J a n ’ 03 — 113 117
G old 5 s .................................. 1937
M-N
U n ified g old 4 s ..................1940
ill
J a n ’ 03 . . . . 110 111
J -D 112 i i o
R e g is te r e d ....................... 1940
C oll tr u s t g o ld 5 s .............. 1931
J -J
122 J a n *03
122 122
C o ll tr u s t 5-20 g 4 s. 1903-1918
A -0 10B .......... 105 J a n ’ 03
105 106
C ecilia n B ra n ch 7 s ......... 19u7
A-O 110 .......... 112 J ’ n e ’ 02
E H So N a sh 1st g 6 s .-...1 9 1 9
A -0 100 ..........
L Cin So L e x g old 4 4 s . ..1 9 3 1
J -J 110 . . . . . . 115 M ay’ 02
N O So M 1 st g o ld 6 s ___ 1930
N O So M 2d g o ld 6 s ........1930

[VOL. l x x v i .

SS.2
^ ?£ ^
■ Ai
n

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

J -J

P r ic e
F r id a y
Jan 30

W eek's
R a n g e or
L ast S ale

B id
As/c L ow
100 ......... 100
1 0 3 4 .........
105 ......... 106 4
105
112 Sale 111
88 4

R ange
S in ce
J a n u a ry 1

H ig h N o L ow H i g h
S ep 00
F e b ’ 02
M a r’ 98
* 37 1 1 6 4 i ‘1 2 4
112
D e c ’ 02

102 ......... 103 D e c ’ 02
110 .......... 111 N o v ’ 02
1 0 8 4 ......... 1 1 0 4 J a n ’ 03

9 3 4 Sale

934

9 4 4 436

934

944

J - J * ......... 104

H

I

J -J
J-J

......... 109

109

1094

12 106*4 1 0 9 4

A -O

..........105*4

1 0 5 4 D e c ’ 02

1054105 4

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

112

.......... 1 1 2 4
1134
104
102 4
..........103

103

M-N
M-N

103

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

108
95

95

..........

984
1014
100
1 1 0 4 .......... 111

O ct ’ 02
O ct ’ 99
N o v ’ OO
J a n ’ 03 . . . . 111

1 20
124
90
1024
126*4 1 2 8 4 1 2 5 4
1264
104°s

M ay’ 01
N o v ’98
J a n ’ 03 . . . . 1 2 5 4 1 2 5 4
N o v ’ 02
A p r ’ 02

1 0 6 4 ......... 1 0 6 4
101

M-S

A-O

106

J-D

102*8 103

1 1 3 4 ......... 123 May* 9 9
8 4 .......... 87 4 Miiy’ 02

110
1074
100
120
99
71
..........i l 6 * 4 1 1 4 4
92

M-N
M -S
M -S

11241124

.......... 104 *8 A u g ’ 02
102 O c t ’ 01
.......... 1 027s J an ’ 03 —
104°a M ay’ 02
..........
......... 9 8 4 N o v ’ 02

M -S

J -J
J -J
J -J

J an *03
M a r’ OO
D e c ’ 02
A p r *98

1044 .
1 0 4 4 ..........
98 .........
......... 1 2 1 4
99 Sale

111

9 10041004

1064
M a r ’ 02

D e o ’ 02
D e c ’ 02
100 4 20 100
1 2 0 4 20 120
60 98
100
O c t ’ 02
J a n ’ 03
114 4
J a n ’ 03 —
92

1064
1214
100
H 44
92

K

L

M IS C E L L A N E O U S
G a s a n d E le c t r i c L ig h t
C liG L & G C o S eeP G & C C o
C o lu m b u s G as 1 st g 5 s ___ 1932
C o n n R y So L See S tre e t K y
C o n G as Co See P G So C Co
D e tr o it C ity G as g 5 s ......... 1923
D e t G as Co con 1st g 5 s . . . 1918
E d El 111 B kn See K Co E L & P
E d E 111 See N Y G & E L H So P
E q G L N Y 1st con g 5 s . . 1932
E q G So F u el See P G So C Co
Gas<fc E le c B e rg C o c g 5 s . 1949
G r R ap G L Co 1st g 5 s . . . 1915
K C M o G as C o 1st g 5 s . . . 1922
K in g s Co El L So P g 5 s . . . 1937
P u rch a s e m on ey 6 s ......... 1997
E d E i 11 B kn 1st con g 4 s 1939
L a c G as L o i S t L 1st g 5.3.61919
M ilw a u k e e G as L 1st 4 s . . 1927

2

J -J

107

J -J
F-A

97

97
104

97
M ay’ 02

M-S

117

D e c ’ 02

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

5

6 1 4 O ct *01
107*4 D e c ’ 00
..........124
94
96
108 Sale

97

6 9 4 Sale

69 4
69*4 382
6 3 4 O ct ’ 00

J -J
J -J
A -O

117
114
1 14

1 1 9 4 120 J a n ’ 03
1 1 3 4 J a n ’ 03
117
.......... 1 1 4 4 1 1 4 4

M-N
M-N
J -J
J J
A O
A O
J J
J J

105

69

69*4

1 1 0 4 F e b ’ 02

s

MM -S

106

108

108
1094
1 1 4 4 .......... 117 4
109 4
106 4 ......... 1 0 8 4
96

97

97

1194120
11341134
*6 1 1 4 4 1 1 4 4

8 108

108
J ’ n e’ 02
D e c ’ 02
O ct ’ 99
S e p ’ 02

118

97

118

1 0 1 4 S ep *99

Q -J

97

118

1

97

A-O
A -0

i0 8 4

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

M-S
M-S
A -O
M -S

Q -J
J -D
M-N
J -J
J -J
M-N

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

J -J
J -J

1024 1014
103
100
100
994100
111

101
100

J a n *03
J a n ’ 03
M ay’ 02
O ct ’ 00
J a n ’ 03
J a n ’ 02

—

10141024

—

99*4 1 0 0 4

1 0 9 4 J ’ n e ’ Ol
112 M a r’ 02
112 4 J an ’ 02
112 4 A p r ’ 02
115o6 J an *03 . . . . 1 1 5 4 1 1 5 4
1114112
1114 1114
46 99*4 101*8
1 0 0 4 101
100 J an ’ 02
3 112 113 4
112
il2
Sale 112
7 100 1 0 0 4
1004
9 9 4 1 0 0 4 100
106 D e o ’ 00
112 D e o ’0 2
2 10841084
1 08 ^ S ale 1 0 8 4
1084
129 129
129 J a i l ’ 03
1 2 4 4 A p r ’ 02
j ’o 6 ..........
112 ..........
112 ..........
1 10 ..........
11541184
1 1 1 4 .........
101 Sale

B O N D S — Continued oil N ex t P a g e ,

..........
Sale

A-O
A -0

..........

97

120 120
120 J a n ’ 03
97 4 S e p ’ 02
12 108 1 0 8 4
108
108
95 J ’ ly ’ 02 . . . . • • • • • • • • • • . *

G a s a n d E l e c t r i c L ig h t
M u t F u e l G as C o See P e o p G as
N e w a rk C on s G as co n g 5 s 1948
N Y G E L H & P g 5 s ...1 9 4 8
P u rch a se m o n e y g 4 s . ..1 9 4 9
E d E l 111 1st c o u v g 5 s ..1 9 1 0
1st c o n s o l g old 58.......... 1995
N Y & Q E 1 L & P 1st con g 5 s l 9 3 0
^ a te rso n So P G So E g 5 s. 1949
P e o G a s So C 1 st gu g 6 s ..1 9 0 4
2d g u a r g old 6 s ..................1904
1st co n g o ld 6 s ....................1943
R e fu n d in g g old 5 s ............ 1947
Ch G -L So C k e 1st g u g 5s 1937
C on G C o o f C h l s t g u g 5 s . ’ 36
E q G So F Ch l s t g u g 6 s. 1905
M u F u e l G as l s t g u g 5S.194T
T re n to n G So E l 1 st g 5 s ..1 9 4 0
U tica E L So P 1 st s f g 5 8 .1 9 5 0

111 ..........
90*4 97 4
106 ..........
1 1 8 4 .........
..........1 0 7 4
101
102
..........1 25
105 ..........
* 1 0 8 ..........
..........110
102 4 .........
........ I 104*4

1 1 0 4 111
96*4
974
105*4 D e c ’ 02
119
119
107 4 J a n ’ 03
104
104 4
125 4
105
109
108
102 4
104
109

6 1104111
51 95
974
40 119 119
10741074

J ’ n e’ 02
N o v ’ 02
J a n ’ 03 . . . .
J a n ’ 03
D e c ’ 02
108
1
Jan *03
J a n ’ 03
F e b ’ 01

124
105

1254
105

108
102
104

1 08
1024
105

* No price Friday; latest bid and asked this week. aD ue Jan b D u eF eb d D u eA p r eDueMay /iD u e J ’ly k Due Aug o Due Oct g Due Deo s Option sal®

BONUS
N. Y. S T O C K E X C H A N G E
W eek e n d in g J a n 30

P r ic e
F r id a y
Jan 30

Loulsv < Nashv—(C o n tin u e d )
fc
Pensacola Div gold (5s... 1920 MSt L Div 1st gold Oft.......1921
2d gold 3 h..................... 1980
Henuer Bdge 1st s f g 6s. 1931
Kentucky Cent gold 4s.. 1987
L<fe N < M < At 1st g 4 ‘aft 1945
fc
fe
N Fla < 8 1st gu g 5 s ... 1937
fe
Pens < Atl 1st gu g Oft.. 1921 F
fe
S < N Ala con gu g 5 s.. 1930
fc
Sink fond g old 6 s........ 1910
L < Jett Bdge Co gu g 4 s ..1945
fc
L N A & C l i See C 1 & L
ahon Coal See L 8 <
fe
M anhattan Ky consol 4ft.M 8
1990
Registered................. 1990
Metropol El le t g 08....1908
Man 8 w Colonlz g 5»-----1934
M cK ’pt cfe B V See N Y Cent
Metropolitan El See Man Ky
Mex Cent consol gold 4 s.. 191!
1st consol income g 3a.ol939
2d oon8ol Income g 3 s..a l9 3 9
Equip < coll gold 5s....... 1917
fc
2d senes gold 5s....... ..1919
Coll tr g 4
1st Ser---- 1907
Mex Internat 1st con g 4 s.1977
Stamped gu aran teed.... 1977
Mex North 1st gold 0 8....191 0
Mich Cent See N Y Cent
Mid of N J See Erie
Mil L S A W See C lU o A N W
MU A Mad See Chic A N W
Mil A North See Ch M A St P
Minn A St L 1st gold 7ft..1927
Iowa Ex 1st gold 7fl.......1909
Pacific Ex 1st gold 08...1921
South West Ex 1st g 78.1910
1st consol gold 5s............ 1934
1st and refund gold 4s. .1949
Minn A St L gu See B C K A N
M A P 1st 5s st-pd 4s int gu 1930
M S S M A A 1st g 4 lnt gu 1920
M StP A SS M c o n g 4 in t g u ’38
Minn Un See St P M AM
Mo Kan A Tex 1st g 4 s ...1990
2d gold 4 s....................... pl990
le t ext gold 6s................. 1944
St L Div 1st ret g 4ft....2001
Dal A Wa 1st gu g 5s. ..1940
Kan C A Pac 1st g 4 s ...1990
M E A T of T 1st gu g 58.1942
Slier SU A So 1st gu g 5s. 1943
Tebo A Neosho 1st 7 s ...1903
Mo K A E 1st gu g 5ft.......1942
Missouri Pacific 3d 7s.......190(5
1st consol gold 0s............ 1920
Trust gold 5s stam ped.al917
R egistered................ al917
1st coll gold 5s................. 1920
Cent Br R y 1st gu g 4 s .1919
Leroy A C V A L i s t g 5s 1920
Pac R of Mo 1st ex g 4s. 1938
2 d extended gold 5 s ... 1938
St L Ir M A Sgen con g 5sl931
Gen con stamp gtd g 5s 1931
Unified A ref gold 4 s.. 1929
Verdi V 1 A W 1st g 5s. 1920
Mob A Birin prior lien g 5s 1945
M ortgage gold 4s............ 1945
Mob Jack A K C 1st g 5 s.1940
Mob A Ohio new gold 0 s ..1927
1st extension gold 6s . . h 1927
General gold 4 s............... 1938
Montgom D iv 1 s t « 5 s..1947
St L A Cairo coil g 4 s ..e l930
Guaranteed g 4s.......... 1931
M A O coU 4 s See Southern
Mohawk A Mai S e e X Y C A H
Monongaliela Riv See B A O
Mont Cent See St P M A M
Morgan’s La A T See S P Co
Morris A Essex See Del L A W
Chat
St 1st 7 s.1913
N ash consolAgoldL5s........ 1928
1st
Jasper Branch 1st g 0 s..1923
McM M W A A i 1st Os..1917
T A P Branch 1st 0 s ....1917
Nash Flor A Shot See L A N
Nat of Mex prior lien 4*28.1926
1st consol 4s.................... 1951
New H A D See N Y N H A H
N J June RR See N Y Cent
New A Cin Bdge See Penn Co
N O A N E prior lien g 0 sp l9 1 5
N Y Bkln A Man Boh See L I
N Y Cent A H R 1st 7 s ...1903
Gold mortgage 3 * S......... 1997
2
Registered.................... 1997
Debenture 5s of. ..1884-1904
Registered..........1884-1904
Regist deb 6s o f ... 1889-1904
Debenture g 4s___1890-1905
Registered.......... 1890-1905
Debt certs ext g 4s........ 1905
R e g is te r e d ................. 1905
Lake Shore coU g 3 ^ 8 ... 1998
Registered.................... 1998
Mich Cent coU g 3*28 ___ 1998
Registered.................... 1998
Beech Creek 1st gu g 4s. 1930
Registered.................... 1930
2d gu gold 5s................1930
Beech Cr E xt 1st g 3 *28 51951
Cart A Ad 1st gu g 4s. ..1981
Clearf Bit Coal le t s 14s. 1940
Gouv A Os we 1st gu g 5 s 1942
Moll A Mai 1st gu g 4 s..1991
Income 5s......................1992

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

B on d s
Sold

Boild Record— Continued— Page

J a n u a r y 31, 1903.]

R ange
S in ce
J an u a ry 1

BONDS .
N. Y . STOCK E X C H A N G E
W e e k E n d in g J a n 30

a "1
|
*

P rice
F r id a y
J a n 30

Week* s
B anrje o r
L a st S ale

M anus
£
S in ce
-c vc J a n u a r y 1

H ig h S'<j\\Low H ig h
B id
A s k L ow
H ig h A 0 Low H ig h N Y Cent A H R—(C o n tin u e d )
105 Oct ’ 02
1163s Mar’02
N J June R gu 1st 4 s ...1980 F-A
Registered.................... 1980 F -A
i*25*
125*2 Aug’ 02
105 *2 N o v ’ Ol
N Y A Pu 1st con g u g 4 s 1993 A -O 104
08*2........ 75 J’ ne’02
Nor A Mont 1st gu g 5s. 1910 A -O
113 Nov’ 09
4 110 111
W est Shore 1st 4s gu ...2361 J -J 110 ........ 110*2 110*2
983s 083s
98*2........ 983s Jail ’ 03 —
40 109*2 111
110
108
Registered.................... 2301 J-J 110 Sale 1 10
110 ‘2 Mar’02
113*4........ 1143 J a n ’ 03 .... 114 1143*
Lake Shore consol 2d 7s. 1903 J -D 103 4 ....... . 103 J a n ’ 03
102 °4 11)3
4
102*4 10234
Registered.................... 1903 J-D 103 ........ . 10234 J a n *03
113 ........ 113 J a n ’03
113 113
105*4 1 ‘ >5 ^
* 1 J6 ........ 115 D e c ’Ol
Gold 3 ^ 8 ........................1997 J-D *105 *8........ 105*4 J an ’ 0!
1 05 Jan *03
105 105
112 S e p ’02
Registered................. 1997 J-D
114 F e b ’ 02
b e t Mon A Tol 1st 7ft. 1900 F-A 111
*9 7 ** m m 100 Mar’01
Ka A A G li 1st gu c 5ft. 1938 J -J 120
124 124
124 J a n ’ 03
Mahon C’ l RR 1st 5ft..1934 J -J 124
139 J a n ’03
139 139
Pitts M cK A Y 1st gu 68.1932 J-J 138
104 Sale 104
104*2 172 104 104*2
1037 D e c ’02
e
2d guards...................... 1934 J-J 130
24 109*2 110
M cKees A B V 1st g 0s 1918 J-J 122
ilO Sale 10934 110
118°® D e c’01
Mich Cent 1st con soles. 1909 M S
125*2 Jan *03
5s.....................................1931 M-S 125*2
125*4125*2
127 J ’ne’ 02
M
Registered................. 1931
33 76
110 L e e ’01
4s.....................................1940 -J
78
76*4 Bale 76*4
77
106*2 N o v ’ OO
Registered................. 1940 J-J
26 20
25*9
26*2 37 25*2 27*2
37 10*2 18*4
J L A B 1st g 3*28 ...........1951 M S
10*2
17
Bat C A Stur 1st g u g 3s. 1989 J-D
1 1 5 * May’O
O
N Y A Harlem g 3 * -.-2000 M-N
28
•••• 97
97 Jan ’03
Registered.................... 2000 M-N
97
......... 97
9 0 * J ’l y ’01
N Y A North 1st g 5 s ...1927 A -O 119 122 119 *2 Dec ’ 02
121*4 122**
R W A O con 1st ext 5s. A1922 A -O 1 2 2 * Sale 122*4 122*4
1133 Jan *02
4
O
Oswe A R 2d gu g 5 s...el9 1 5 F -A
•••••• . . . . . . 106 May’ O
R W A O T R l s t g u g 5s. 1918 M-N
107 *s Jan *03
Utica A Blk Riv g u g 4 s . 1922 J-J
107*2107*2
N Y Chic A St L 1st g 4s. 1937 A O 104 *a 106 I04*a 104*2 30i 104 104*
106 Dec ’02
Registered........................1937 A-O *.........104
N Y A Greenw Lake See Erie
N Y A Har S ee N Y C A Hud
145*4......... 144* Deo *02
115*2........ 119 *4 N ov’ 02
N Y Lack A W See D L A W
N Y L E A W See Erie
126*2........ 129*4 Aug’02
121 J a n ’02
118*4 ..
N Y A Long Br See Cent of N J
*120*4 122 *2 120*4 120*2 7 120 1 2 0 *i N Y A N E See N Y N H A H
100 D e c ’Ol
103*a........ 1 0 3 * 1 0 3 * 10 103*4 103* N Y N H A H a r 1 s treg 4 s. 1903 J-D
A-O 219*2 Sale 219
Convert deb certs $1,000...
219*2 10 219 221
10 218 218
218 220 218
218
Small cert ft $100...............
135 *2 Jan ’ 02
i o s N ov’b i
Housatomc R con g 5s.. 1937 M-N
98 A p r’ 01
N H A Derby con g 5 s ..1918 M-N
114 J a n ’00
N Y A N E 1st 7s.......... 1905 J-J 1 0 2 34
083 Sale
4
100*4 Mar’ 02
1st Oft.............................. 1905 J-J 101 *2
98*2
99*4 100 97*2 99*2
84
843 67 83
4
84 *4 Sale
85
N Y A North See N Y C A H
102.*®........ 104*2 104*2 3 102*104*2 N Y O A W ref 1st g 4 s ..01992 M-S 102* Sale 102*4 103*4 11 102 103*t
80 ......... 86 Oct ’ 02
101 *2 N ov,98
Regis $5,000 only........ 01992 M-S
101 ........ 106 S e p ’02
N Y A Put See N Y C A H
N Y A B B S ee Long Island
89*2........ 90 J a n ’ 03
90
90
N Y S A W See Erie
103*2 105 104*2 104*2 ‘ *2 1 0 3 *1 0 5
102*4........ 105 *2 J ’l y ’02
N Y Tex A M See So Pac Co
Nor A South 1st g 5 s ........ 1941 M-N 114 115*4 115*4 115*4 10 115*4115*4
ill
........ 109*2 Jan *03
2
109*2 110
N orf A W est gen g 0s.......1931 M-N 131 * 133 133 Aug’ 02
110 " 8 109*2110
132 D e c ’02
Im provem ’t A ext g 0 s .. 1934 F-A ........ 132
109*8........ 110
121 1 2 1 34 12 L*s J a n ’03
132*4 Jan ’03
121 121*
New River 1st g 0s.......1932 A-O
132 132*4
4
100*4 Sale 100*8 1063 *60 104 *2 100*
N A W R y 1st con g 4 s .1990 A-O 101 Sale 101
1 0 1 * 105 100 1 0 1 *
100 *2 Jan ’02
Registered.................... 1990 A-O
923 Sale
4
io 7 Sale 1 0 6 * 107*2 44 104*2 107*2
923®
93 217 91
93*i
Pocah C A C join t 46..1941 J-D
93 34 94*2 04*8
C C A T 1st gu g 5s........ 1922 J-J 108 ....... 107*2 J ’ly *01
94*2 10 93*2 94*2
103 ........ 100 May’01
Scio V A N E 1st gu g 4s 1989 M-N 101 1 0 1 * 100*2 100*2 "*2 106*2 i ’ o*i
o
4 1 0 4 * 1 0 5 * North Illinois See Chi A N W
105
104*2 105*2 105
10 112 113
North Ohio See L Erie A W
1 1 1 ^ ......... 112*2 113
30 113*2115
4
1033 168 1023 104
4
1 1 4 * 116 114*2 115
Nor Pac—Prior lien g 4s.. 1997 Q-J 103ia Sale 103
1 102 1058|
112 *2 D e c’ 02
102
102
Registered.....................1997 Q-J
43 72*4 73*2
90*4 Sale
723 Sale
4
90
9 0 * 183 90
General lien gold 3s___a2047 Q-F
723
4
73
91*2
103*8........
R egistered................. a2047 Q-F
70*2 Jan *03
70*2 70*i
I l l ........ 1 1 0 * J ’l y ’ 00
C B A Q c o i lt r 4 s See Gt Nor
96
90
03
102*2May’02
93 A p r ’02,
St Paul-Dul Div g 4s___1996 J -D
102 J’l y ’ Oa
Registered.................... 1990 J -D
6 127*2 127*2
127 J a n ’ 03
St P A N P gen g 6s___1923 F-A 127
127 127
........ i.27*2 127*2 127*2
2 125*2125*
132 J ’l y ’99
Registered certified .. 1923 O-F 12334
*125*2 127 125*2 125*2
118 N ov’02
97 Oct ’02
St Paul A Dul 1st 5 s ....1931 F-A
i i 5 * 2 i i 6 115 J a n ’ 03 — 116 116*2
110 O c t ’ 02
2d 6 s .............................. 1917 A-O
* 00 ........ 91 Oct ’ 02
9 7 * 973 97*2 J a n ’03
4
1st consol gold 4s.........1908 J-D
97
98
* 90*2........ 101 *aJ ’ne’02
94 *2 F e b ’02
Wash Cent 1st g 4 s ........ 1948
Nor Pac Ter Co 1st g 6 s..1933 j .- ?
115*4 110
116*4 116
Nor Ry Cal S ee So Pac
Nor Wis S ee St P M A O
Nor A Mont See N Y Cent
A W See
C A tL
O Ind River R R C C g 5s.S1930 J-D 113 114*2 114 Deo*02
hio
1st
123 124 123*2 123*2 3 123 123*2
General gold 5s................1937 A-O 110 113 108*2 J ’ly *02
Ore A Cal See So Pac Co
116 J a n ’ 03
1143 116
4
* ........ 115
Ore R R A N av See Un Pac
113 D e c’99
Ore Short Line See Un Pac
110 J ’l y ’ 02
Oswego A Rome See N Y O
111 D e c’ 99
O C F A St P See C A N W
.........10134 101 Jan *03
....1 9 4
100*101
P ac Coast Co 1st g 5 sMo Pac6 J-D 108 Sale 107 108 20 107 108
70 •
ac of Missouri See
•w ••••• 76*2
76*4 65 75*2 77*4
Panama 1st s fund g 4*28..1917 A-O 102*2105 102 Jan ’ 03
102 102
99 ....... . 102 A p r ’02
Sink fund subsidy g 6 s ..1910 M-N
5 1 0 8 34 IO984
Penn Co gu 1st g 4*28 ....... 1921 J-J 108*4........ 10 J *2 109*2
15 108 109*2
Registered........................1921 J-J 108 Sale 108
108
90 ....... 102 N ov’ 98
Guar 3*28 coll trust reg. 1937 M-S
10 97
97
97
Guar 3 *28 coll tr ser B ...1941
97 Sale 97
103 D e c ’ 02
i o i ........ 104 J a n ’03
C St L A P 1st con g 5s. 1932 A-O 122 *2 Sale 122*2 122*2 5 122*2 123
104 104
Registered.................... 1932 A-O
104*4 105*4
105*4 Jan ’03
i o a i o ........ 103*2 103*9 ** 9 103 103*2
C IA P g en g u g l e s s e r A . ’42 J-J 117
121 Oct ’ 00
114*2 114*3
103 ........ 1 0 2 * N ov’ 02
Series B ......................... 1942 A-O 118
103 ........ 109 *2 Sep ’ 97
Scries C 3*28 ................. 1948 M-N
1 0 0 * ........ 1 0 0 * Jan *03
100*10008
Series D 3 H
as................. 1950 F-A
100*2........ 99 Deo *02
Erie A Pitts g u g 3 * S B.1940 J-J
2
102 Nov’ O
O
Series C......................... 1940 J-J
100*2101*2 1 0 0 * Jan ’03 — 1 0 0 * 1 0 0 *
N A C Bdge gen gu g 4 *28 1945 J-J
.........101*2 99 *2 N ov’02
4
4
04 S a le ' 933
P C C A St L gu 4*28 A . . . 1940 A-O 1 123
4
04*2 66 033 0 4 *
114*2 Jan ’03
Senes B guar................1942 A-O
113 Dec *02
03 D e o ’02
Senes C guar................1942 M-N 110
92
02*2 91*2
e
116*2 F eb ’ 01
9 2 * 19 91*a 927
91
01
Series D 4s guar........... 1945 M-N 103
91 J a n ’ 03
100*4 N ov’02
Series £ 3 ^ guar g ___1949 F-A
107 ........ 111*4 Sep ’ 01
93 *a 963 90 Jan ’03
4
Pitts Ft W A C 1st 7 8 ... 1912 J-J *123
1278® Oct ’02
100 J ’ ne’98
114 ........
2d7s................................1912 J-J 128
10 128 128
128
128
130 A p r’01
3d 7s............................ *1912 A-O *128
Penn R R 1st real est g 4s. 1923 M-N 104
100 D e c ’ 02
Consol sterling g Os....... 1905 J-J
96 A pr *02
Convertible g 3 *28.......... 1912 M-N 10538 Sale 104*4 105*2 2244 104*4 107
107*4 J ’ ly *00
Con currency 6s r e g ...01905 Q-M
Consol gold o s................. 1919 M-S 110*2
L10*4 D ec’Ol
B id

A s k L ow

mum *

12
1*4

M IS C E L L A N E O U S
T ele g ra p h and T eleph one

Am Telep < Tel coll tr 4s 1929
fe
Comm Cable Co 1st g 4 s ..2397
Registered...................... 2397
Erie T cfe T coi tr g s f 5 s ..1926
Met T < T 1st s f g 6 s ...... 1918
fc
Mut Un Tel Co S ee W estn Un
N Y < N J Tei gen g 58*. 1920
fc
No Westn T eles See West Un
West Union col tr^jur 58.1938
Fd and real est g 4 * ...1950
28
Mut Un Tel s fund 6 s ...1911
Northwestern Tel 7 s ....1904

253

3

B O N D S —Continued on N ext P a g e
Coni and Iron

J -J
Q-J

98

....
_

f t

M-N 116

100*2 Oct
109 Oct
114 Nov

M-N

113*4 Oct ’01

J-J *108*2
M-N *10334
M-N
J-J

109
103*2 104 *34 103
i l l J ’ ne’02

Col F A I C o gen s t g 5 s ..1943
Convertible deb g $s___1911
De Bardel C & I See T C cfe 1
Gr R iv Coal 6c C 1st g 6 s..1919
Jeff A Clear C<fc 1 1st g'os. 1920
2d gold 6s.........................1920
/
Kan cfe H C < C 1st 8 f g 58.1951
fe
Pleas Val Coal 1st g s f 5s. 1928
109
R o ch A P itC A . I pur m 5s. 1940
1 0 4 * Tenn Coal T D iv Is tg 0 s .a l9 1 7
Birin Div 1st co Asol Os.. 1917
Cali C M Co 1st gu g Os. 1922
De Bar C cfe I Co gu g Os. 1910
W h /L K A P C G # 1st g 5s. 1919

F-A
F-A

I
103* 104 *2
104*2........ 104*2 J a n ’ 03
96*
03 *2 Sale 93*2
94*4 272 ! 93

115 J’ ne’0‘2
A-O
J-D
107 May *97 . . . .
80 May’97
J-D
J-J 1no
106*4 Feb ’02 •***
|
105 Oct ’00
J -J
M-N
107 *2 107 *2
A-O 106*2107*2 10 7*2 Jan ’ 0 3
107 " 6 105 *s 107
J-J 107 108 107
105 Feb *00
J-D
102 * Nov’02
F-A *103
32 J an '00
J-J

Coni and Iron
Cah Coal Min See T O I & R
M anufacturing A Industrial
Clear! Bit Coal See N Y O & H
Col O & 1 Dev Co gu g 5s. 1909 J-J
37 *t 9oj 35
35 Sale 35
65 N ov’ O ... . k ..» . •••#*• Amer Bfcyole s f debeu 5s 1919 M-S
O
Col Fuel Co gen gold 6 s ... 1919 M-N
101
Am Cot Oil ext 4*28 .......... 1915 Q-F *100 ........ 101
110*2 Aug’ 02
1 100
1
* N o prloe Friday; latest bid and asked this week, a Due Jan 6 Dae Feb # Due May g Due J 'ne A Due J ’ly p Due N o t s Option sale.

42*»
101

Bond Record—Concluded —Page 4

Penn HR—(C o n t i n u e d )
Consol gold 4 s..................1943
A lleg v a l gen gu g 4 s . ..1942
Cl & Mar 1st gu g 4 4 s . .1935
D R R R & Bge 1st gu 4s g .’36
G rR J b Lex 1st g u g 4 4 s l9 4 1
Sun A Lew is 1st g 4 s ... 1936
U N J R R & Can gen 4 s .1944
Pensacola & A tl S ee L & Nash
Peo < East See C C C & St L
fc
p eo < Pek Un 1st g 6 s— 1921
fe
2d gold 4 4 s ..................... 51921
P ereM a rq — F & P M g 68.1920
1st consol gold 5s......... 1939
Pt Huron D iv 1st g 6s. 1939
S a g T u s 6c H ls t g u g 4s. 1931
J*ine Creek reg guar 6 s ... 1932
; >itta Cin cfc St L See Penn Co
! Mtts Clev & T ol 1st g 6 s ..1922
P itts Ft W & Cli See Penn Co
Mtts June 1st gold 6s....... 1922
Mtts < L Erie 2d g 5 s ...a l9 2 8
fe
tttts M cK ees & Y S e e N Y Cen
>itts Sli & L E 1st g 5 s ...1940
1st consol gold 5s.............1943
P itts < W est le t g 4s........1917
fc
J P M & Co ce rffs...............
P itts Y & Asli 1st con 58.1927
"|> eading Co gen g 4s........1997
XY R egistered..................... 1997
Jersey Cent coll g 4 s ... 1951
Rensselaer < Sar S ee D & H
fc
R ich & Dan S ee South R y
R ich < M eek S ee Southern
fc
R io Gr W est 1st g 4 s..........1939
Consol and col trust 4s .1949
Utah Cent 1st gu g 4 s.a l9 1 7
Gr June
5 s ...
t io gr So 1st1st gu4g ......... 1939
io
gold s
1940
Guaranteed.......................1940
R och < Pitts S ee B R & P
fe
R om e Wat & Og S ee N Y Cent
Rutland 1st con g 4 4 s ___ 1941
Rut-Canad 1st gu g 4 4 s . 1949
ag us < H S Pere Marq
S alt TLakefeC 1st ee s f 6 s.. 1913
g
t
Gr I si 1st g
1947
E Jo & <fe Adiron 1st3-48.. 1996
t Law
g 5s.
2d gold 6s.......................... 1996
Et L < Cairo S ee M ob & Ohio
fc
Et L < Iron M ount S ee M P
fe
S t L K C & N S ee W abash
fit L M Br S ee T R R A of St L
t L & S Fran 2d g 6s Cl B 1906
2d gold 6s Class C .......... 1906
General gold 6s................ 1931
General gold 5 s................ 1931
6 t L<fc S F R R cons g 4 s .. ’96
Southw D iv 1st g 5 s ..1947
R efunding g 4 s ........... 1951
K C Ft S < M c o n g 6 s.. 1928
fe
K C F t S & M R y rer g 4 s 1936
R egistered..................... 1936
t Lotus
Illinois Cent
f t L S W So Sgee4s bd ctfs.1989
1st
2d g 4s m e bond c t fs ...p l9 8 9
Trust Co c tfs......................
Consol gold 4 s..................1932
G ray’ s Pt Ter l s t g u g 5s 1947
fit Paul < Dul S ee N or Pacific
fc
fit Paul M & Man 2d 6s. ..1909
1st consol gold 6s.............1933
R egistered..................... 1933
Reduced to gold 4 4 s .. 1933
R eg istered ................. 1933
Dakota ex t gold 6 s.........1910
M ont ext 1st gold 4 s___ 1937
E M inn 1st div 1st g 5 s.. 1908
R egistered..................... 1908
N or D iv 1st gold 4s___ 1948
M inn Union 1st g 6 s___1922
M ont C 1st gu g 6 s .........1937
R egistered..................... 1937
1st guar gold 6 s .......... 1937
WRl«fc S F 1st gold 5 s.. 1938
fit P < N or Pac S ee N or Pac
fe
fit P < S’ x City S ee C S t P M & O
fe
fi Fe Pres & Ph 1st g 5 s ...1942
fi A < A P S ee So Pac Co
fe
£ F & N P 1st sink 1 g 5 s .1919
Sav F & W 1st gold 6 s ___ 1934
1st gold 5 s.........................1934
fit John’s D iv 1st g 4s. ..1934
A la Mid 1st gu gold 5 s.. 1928
B runs < W l s t g u g 4 s .. 1938
fe
SR Sp Oca & G gu g 4 s ..1918
cioto
E
N or
E V a lA& N ine Sgee4s ...1& 5W
eaboard ir L
9 0
CoU tr refund g 5 s .........1911
Seab & Roa 1st 5s.............. 1926
Car Cent 1st con g 4 s ...1949
fiber Shr < So S ee M K < T
fe
fe
8 R Sp Oca & G S ee Sav F 6c W
Sod Bay & So 1st g 5 s....... 1924
fio Car & Ga S ee Southern
8 0 Pac Co—CoR tr g 4 4 s .. 1905
Gold 4s (Cent Pac c o ll). A;1949
R e g is te re d .................. A:1949
A 6c N W 1st gu g 58___ 1941
Cent Pac 1st ref gu g 4s 1949
R egistered..................... 1949
M ort guar gold 3 4 s .. A;1929
R eg istered ..............A:1929
Gal Har < S A 1st g 6 s. .1910
fe
2d gold 7s.......................1905
M ex & Pac 1st g 5 s___1931
G ila V G < N 1st gu g 5s. 1924
fe
H 0 U8 E < W T 1st g 5 s .1933
fe

St

P r ic e
F r id a y
Jan 30
B id

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

3

M-N
AO

A 8 k L ow

12©
©

R ange
S in ce
05 C J a n u a r y 1
o

H ig h H o L o w

108

100

H ig h

102 N ov’97
O
1 1 2 4 1124 M ar’O
.........
D e c ’02
........... 111
..........

109
104

112

......... 117

May’O
O

129

111
113

F-A
J-D

127
101
1214
111
113

J a n ’ 03
O c t ’ 00
J a n ’ 03
J a n ’03
J a n ’03

137

F 127
M-N
AO

W e ek 's
R a n ge or
L a s t S a le

N ov’97

127

127

12141214

111

113

AO

120

1 0 7 4 Oct ’98

J -J
A -0

119
113 4

120 Oct ’01
1 1 2 4 D e c ’ 02

AO

120

119 N o v ’ 02
98 J ’l y ’ 97
1 0 1 4 N ov ’02
101 N ov’ 02
1 2 0 4 D e c ’02
974
9 7 4 1G0
92 A pr *01
954
9 5 4 10

111

113

J -J
J -J

99*2

M-N
J-J
J-J
A -0

1 1 6 4 ........

J -J
A -0
A -0
J-D
J -J
J -J

97 4 9 8 4 98
91
91 . . . .
97
9 2 4 -.-.
110 1 1 2 4 112 4
804
77
82
94 4

97 4 Sale
95

96

J -J
J -J

984
91
J a n ’ 02
J a n ’ 03
J ’l y ’ 02
N ov ’02

94

106 Sale
106 .......
129 130
1 1 3 4 1 1 3 78
......... 954
......... 92
1 2 4 4 .......
88 Sale
9 6 4 Sale
8 5 4 Sale
100

86

113
135
111

Sale

1134
102 4
105

94

93 4

96

97
91

984
92

112 4 1 1 2 4

JaD ’03

106
106
1 0 8 4 A u g’ 02
129 J a n ’ 03
1 1 3 4 1134
95 4 J a n ’03
100 J a n ’02
9 1 4 J-an’03
1 2 5 4 J ’ne’02
87
884

94

94

1 0 5 4 106
1274129
113 1 1 4 4
95 4 95 4
91

914

51

864

884

964
974
84
85
815e J ’ne’02
85
8 5 4 44

9434

84

974
86 4

844

86

1 1 3 4 J a n ’ 03
1 3 5 4 Jan ’ 03
140 May’ 02
111
1114
1 1 6 4 A p r ’ 01
114
114
104 J a n ’03
106 May’ 01
1 0 7 4 S e p ’ 02
128
1344
115
1244
1254
111
11334
128
123
954
1124
87
95
84
1024

11034 1 1 1 4

114 114
1034104

D e c ’01
O c t ’02
D e c ’99
N ov ’01
N ov ’ 02
A u g’01
95

8 3 4 84
1 0 2 4 Sale

12

A ug’ 01

108
1284
114
95
1124
954
95

11341134
13441354

A p r ’02
J a n ’ 03
A p r ’97
J ’ ne’02
Feb ’02

134
1184
1214
M-S

110

95

84
1024
........ . 10434 Feb ’98
97 Oct ’02
.......

102

102

9 8 4 Sale
9 1 4 Sale

F-A
J-D
M-N
M-N
M-N

984

1 0 1 4 N ov’ 01

J -J
J-J
J -J
A-O

J -J

17
25

95 4

134

95

95

13 8 3 4 84
28 1 0 1 4 1 0 2 4

102

Jan *03

984
98 7
e
914
914
95 A p r ’02
111 J ’ne’Ol
1 0 1 4 Sale 1014 1014
9 9 7 J ’ ne’OO
e
86 4
864
8 6 4 Sale
•
......... 87
110 ........ 112 J a n ’03
1 0 4 4 ....... 108 M ar’02
109 4 Sale 1 0 7 4 109*8
107 109 112 O c t ’ 02
105 ....... . 103 A u g ’ 02

1344

71
73

102

98
99
904 924

56 1014 102
6*1 *84“ ’ 87“

112

112

10741094

M lS O E h L A N E O U S
(H a itu lactu rin g A

In d u stria l

A m Hide < L 1st s f g 6 s ..1919
fe
A m Spirits M fg 1st g 6 s .. 1915
A m Thread 1st col tr 4 s ...1 9 1 9
Bar (fe S Car Co 1st g 6 s ... 1942
C onsol T ob a cco 50-yr g 4 s .1951
R egistered 4 s ................... 1951
D istill of A m er co lltr g 5s. 1911
,IR Steel Co deb 5s.............. 1910
N on-conv deben 5 s.........1913
In t Paper Co 1st con g 6s. 1918
[Kiiicker Tee (C hic) 1st g 5 s .’ 28
N at Starch M fg Co 1st g 6s 1920
N a t Starch Co s f deb 5 s.. 1925
Stan Rope < T 1st g 6 s ... 1946
fe
Incom e gold 5 s................ 1946
U S Leath Co 8 f deb g 6 s .. 1913
tJ S Shipbldg coR < m ge 6 s .’ 22
fc
1st s f 6s g “ A ” ................ 1932

BONDS

N. Y . STOCK E X C H A N G E
W eek E nding J an 30

P r ic e
F r id a y
Jan 30

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

B onds
S o ld

T
S

P e r io d

BONDS
K . Y . STOCK E X C H A N G E
W eek Ending J an 30

[VOL. l x x v i .
j In V st

254

Range
S in ce
J an u a ry 1

B id
A sk L ow
H ig h A 0 L o w H i g h
Southern Pac Co—(C o n t in u e d )
H E & W T 1st gu 5s re d .1933 M- N 104 106 4 1 0 2 4 D e c ’ 02
H & T C 1st g 5s int g u ..l9 3 7 J -J *1 1 0 4 1 1 1 4 1 1 0 4 1 1 0 4
3 no
111
112 J a n ’ 03 ___ 112 112
Consol g 6s int g u a r... 1912 A O
94
95
Gen gold 4s int g u a r ..1921 A - 0
94
94
2 93
94
127 4 Feb ’ 02
W aco & N W div 1st g 6s ’30 M-N
M organ’ s La & T 1st 78.1918 A- O 1 2 9 4 ........ 130 N ov’ 02
1st gold 6s.................... 1920 T . .1 117 ......... 122 S e n ’ 02
N Y T & M ex gu 1st g 4 s. 1912 A - O
N o of Cal 1st gu g 6s___1907 .1 - J 106 .........
Guaranteed gold 5s___1938 A-O 117 ......... 113 J a n ’Ol
99 ......... 105 4 N ov’ 01
Ore < Cal 1st guar g 5s. 1927 T . .1
fe
83 Sale
86
86 4 26 85
S A < A Pass 1st gu g 4s. 1943 J -J
fe
864
So P of A r gu 1st g 6 s . . . c l 909 T- .7 110 ......... 1 124 A p r ’02
1st guar g 6s.............. cl9 1 0 J -J I l l 11178 1 1 1 4 1114 19 1114 1 1 1 4
S P of Cal 1st g 6 s........... 1905 A - O 105*8 ........... 105 4 D e c ’ 02
1st g 6s series B ........... 1905 A O 106 4 ......... 108 D ec ’OJ
1st g 6 sseries C & D ...1 9 0 6 A O 1 0 8 4 ......... 1 1 0 4 Jan ’ 02
1st g 6s series E < F ...1 9 1 2 A O 1 0 9 4 ......... 1 1 9 4 1 1 9 4
fe
1 11941194
1st gold 6 s..................... 1912 A - O 1 1 9 4 ......... 119 4 J ’ne’ 02
107 N ov’O
O
1st con guar g 5 s......... 1937 M-N
S tam ped....... 1905-.. 1937 M-N 1 0 9 4 1 0 9 4 109 4 109 4 50 109 4 1034
S Pac of N Mex 1 st g 6 s .. 1911 J - J n o 1 12 112 D e c ’ 02
S P Coast 1st gu g 4s___1937 T - J
T ex & N O 1st 7s.............1905 F - A 105 ......... 108 H ay'02
113 4 Oct ’02
Sabine Div 1st g 6s___ 1912 M-S
Con gold 5s................... 1943 J - J 104 ......... 108 4 J ’ly ’ 01
Southern—1st con g 5s___ 1994 J -J 1 1 7 4 Sale 1 1 7 4 1174 11 1 1 6 4 1 1 8 4
122 4 Jan ’02
R egistered..................... 1994 T - .1 * ...........116
5 ! 934 974
M ob & Ohio coll tr g 4 s.. 1938 M - S * 96 ........... 9 7 4
97 4
113 4 Jan ’03
113 1 1 3 ^
Mem D i v '1st g 4 4 -5 s ...l9 9 6 j1- 7
14 9 7 4 9 8 4
St Louis div 1st g 4 s ___1951 J -J --------- 9 8 4 97 4
98
113 ......... 120 Mai 01
A la Cen R 1st g 6s..........1918 7 . ,|
94 ......... 95 D e c ’02
A tl & Danv 1st g 4 s ....... 1948 T - J
90 .........
A tl < Yad 1st g guar 4s. 1949 A - O
fe
120 S e p ’02
Col < Greenv 1st 6s....... 1916 j - j
fe
115
1 115 1 1 5 4
E T V a < Ga D iv g 5 s.. 1930 j - j 115 i 19 115
fe
119 4 J a n ’03 . . . . 11941 3 9 4
Con 1st gold 5s.............1956 M- N ........... 115
114
114
1 114 1154
E Ten reor lien g 5s....... 1938 M - S
Ga Pac R y 1st g 6s....... .1922 J-J 123 ....... 124 Jan 03 . . . . 1 2 2 4 1 2 4
K nox & Ohio 1st g 6 s ... 1925 J-J 1 2 4 4 1 2 5 4 124 Jan M3 •••• 123 124
R ich & Dan con g 6s___1915 J-J .......... 118
1174 Jan M3 . . . . 1 1 7 4 1 1 7 4
Equip sink fund g 5 s.. 1909 M - S 1 0 1 4 .......... 1 0 1 4 .1 ly '00
D eb 5s stam ped.............1927 A - 0 110 ........ 111 D e c ’ 02 . . . .
87 ......... 92 S e p ’02
Rich < Meek 1st g .4 s ...l9 4 8 M-N
fe
11 106 107 4
106
107
So Car < Ga 1st g 5s___1919 M- N 1 0 6 4 1 0 7
fc
V irginia Mid ser C 6 s ...1916 M- 8 1 1 8 4 ........... 123 F e b ’02
Series D 4-5s................ 1921 M- S 1 1 1 4 .......... 113 4 N ov ’02
Series E 5s..................... 1926 M- S 115 ......... 115 J a n ’03
115 115
3 1154116
General 5 s..................... 1936 M- N 1154 Sale 1154 1154
T _
Guar stam ped.......... 1936 M- N
116 4 D e c ’ 01
95
98
98 A p r ’02
W O & W 1st cy gu 4 s ..1924 F-A
W est N C 1st con g 6 s ..1914 J -J 1 1 4 4 1 1 5 4 115 J a n ’03 — 115 115
S & N Ala See L (fe N
Spok FaRs & N or 1st g 6s. 1939 J . j 122 ......... 117 J ’ ly ’ 00
Stat I si Ry 1st gu g 4 4 s .. 1943 J -D 101 105 1 0 4 4 S e p ’ 02
Sunb & Lew S ee Penn RR
Syra B m g < N Y See D L & W
fe
rP ebo & N See M K & T
1 112 112
112
1 er A of St L 1st g 4 4 s .. 1939 A O 112 113 112
1 1 8 4 ........ 118 J a n ’ 03 . . . . 118 118
1st con gold 5s....... 1894-1944 F A
115 4 May’02
St L M B ge T er gu g 5s. 1930 A-O
T ex & N O See So Pac Co
Tex<fc Pac E D iv 1st g 6s .:1905 M- S 1 0 2 4 ......... 1014 Sep *02
1st gold 5 s........................ 2000 J-D 1164 Sale 1164
1 174 89 11641-174
99 ......... 100 J a n ’ 03 . . . . 99 100
2d gold inc 5s..................?2000 Mar
111 J a n ’ 03 . . . . 111 111
La D iv B L 1st g 5 s .......1931 J -J 109
Tol < O C 1st g 5 s.............. 1935 J -J 1 1 1 4 ......... 112 J a n ’ 03 . . . . 1 1 1 4 1 1 2
fe
11378 N ov’ 02
W estern D iv 1st g 5 s ...1935 A-O
General gold 5 s................ 1935 J-D 1 0 6 4 ........ 107 J a n ’ 03 ..
107 107
1 93
96
96
Kan < M 1st gu g 4 s___1990 A - O
fe
96
90
92
91 Jan 03
Tol P & W 1st gold 4 s ....1 9 1 7 J-J
90
91
8 5 4 Sale
85
85 4 60 8334 8 5 4
T ol St L<fe W prlien g 3 4 s . 1925 J -J
78 4 79
50-year gold 4 s................ 1950 A - O
80
78
79 4 11 76
9 8 4 A ug’ 02
T or Ham < Buff 1st g 4 s./il9 4 6 J -I)
fc
n ’03
D 1st con
n
J-D .........112
U lster <feR Rel& 1 gr g g4 5s 1928 J -J 1034 Sale 110 4 J a103*8 288 110 1 0o3 4
n Pac
s ..1947
103
1024
R egistered.........,.......... 1947 J -J
1024 Jan 03 . . . . 102 1 0 3 4
1st lien con vert 4 s .........1911 M- N 105 4 Sale 105 4 1 0 6 4 784 105 4 1 0 7 4
105 4 Jan M3 ... 1054 1 0 5 4
R egistered..................... 1911 M- N
Ore Ry (fe N av con g 4s. 1946 J-D 1 0 1 4 Sale 1014 1014 24 10034 10134
Ore Short Line 1st g 6 s.. 1922 F-A 127 4 Sale 1 2 6 4 127 4 16 125 127 4
1st consol g 5 s.............. 1946 J -J 113 114 113 J a il’ 03 s l 113 114
9 7 4 Sale
974
97*8 1046 95*8 0 8 4
4s & p a rticip a tin g ___1927 F A
115 N o v ’02
Utah & N or 1st 7 s.........1908 J - J
1 1 4 4 A p r ’02
Gold 5s............................ 1926 J J
Uni N J R R (fe C Co See Pa R R
Utah Central S ee Rio Gr W es
Utah < North S ee Un Pacific
fe
Utica < Black R S ee N Y Cent
fe
\J er Val Ind < W S ee Mo P
&
V irginia Mid S ee South Ry
gold 5s....... 1939
117
1174
11
W abash 1st5s..................1939 M- N 1 1 7 4 1l1 7 4 1104 1 1 0 4 27 1086 4 1 1 7 4
F-A .........I l
2d gold
1
111
Debenture series A ....... 1939 J-J 1 0 0 1 0 1 4 1 0 1 4 Jan '03 __ 1 0 1 4 1 0 1 4
77 Sale
Series B .......................... 1939 J-J
754
7 7 ^ •178 7 5 4 7 8 4
1st lien equip s fd g 5 s.. 1921 M - S 106 ......... 104 4 D e c ’ 02
Det < Cli E xt 1st g 5 s ..1941 J-J 1 0 8 4 ........ 109
fe
109
1 109 109
92
95
Des Moin D iv 1st g 4 s ..1939 J-J
97 May*02
85 4 J^n ’03
Om D iv 1st g 3 4 s .......... 1941 A-O
84
854
T ol (fe Ch D iv 1st g 4 s ... 1941 M- S * 97 4 ......... 98 -Mar’02
St Chas Bridge 1st g 6s. 1908 A-O 108 ......... 109 D e c ’02
W arren See Del Lac < W est
fe
Wash Cent See N or Pac
W ash O < W S ee Southern
fe
W est N Y<fe Pa 1st g 5 s.. 1937 J-J 1174 Sale 1174 1 174 12 1 1 7 4 1 1 7 4
Gen gold 3-4s................... 1943 A - 0
6 99
99 4 Sale
99
994
994
30 ......... 40 M ar’01
Incom e 5s.......................d l9 4 3 Nov
W est N o Car S ee South Ry
W est Shore See N Y Cent
W Va Cent & P 1st g 6 s ..1911 J -J 109 ......... 1 1 4 4 Jan !02
W heel’g & L E 1st g o s ... 1926 A - O 114 ......... 1 1 6 4 Jan ’ 03
115 1 1 6 4
......... 113 S e p ’ 02
W heel D iv 1st gold 5 s.. 1928 J-J I l l
Exten < Imp gold 5 s ...1930 F-A 113 ......... 1114 Oct ’ 02
fe
1st consol 4 s ..................... 1949 M - S
92
924 924
92 4 35 9 1 4 92*8
W ilkes < East See Erie
fc
W il «fe Sioux F S ee St P M < M
fe
W inona < St P See C < N W
fe
fe
W is Cent 50-yr 1st sen 4s. 1949 J -J
907 Sale
s
914
904
9 1 4 142 90
B O N D S —C o n clu d ed .
M is c e lla n e o u s

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

J -J
F-A
M-N

F-A
J -J

95 Jan ’ 03
95
954
91
904
91 “ l6 88
80 Jan ’ 03
105 Jan ’00
80
80
67
6 7 4 500 6 6 4 6 7 4
6 7 4 Sale
66 'o Oct ’02
98
99 Jan ’ 03
99
99
100
99 Jan ’99
100
100 May’02
n o
n o
lio
5 108 110
93
93 A u g ’O
O
93
95
95
95
5 95
95
80 Jan *03
80
80
4
67
68
67
7 663 68
67 4
13
32 1 1 4 1 3 4
1 1 4 1 2 4 12
114 4 J a n ’03
112 1 1 4 4
91 Jan ’03
91
91
80 Jan ’03 .... 80
* 76
80
80
954
91 Sale
80

f N o p rice Friday; latest bid and asked. a D u e J a n

Adam s Ex col tr g 4s.........1948
Am Dk & Im p 5s S ee Cent N J
Am SS Co of W V a g 5 s
1920
B ’k l’n FerryCo 1st cons g 5 s ’48
Chic Jc<fe St Yard col g 5s. 1915
D etM < M Id gr incom es.. 1911
fe
H oboken L & I gold 5 s ...1910
Mad Sq Garden 1st g 5s. .1919
Man Bch H & L gen g 4 s.. 1940
N ewp N e Ship < D D 5s d\ 990
fe
N Y D ock 50-yr 1st g 4 s.. 1951
St Josepli S tk Y ds 1st 4 4 s . 1930
St L Ter Cupples Stat’n (fe Prop
Co 1st g 4 4 s 5-20 y ea r.. 1917
S Yuba Wat Co con g 6 s.. 1923
Sp Val Wat W orks 1st 6s 1906
U S Red < R ef 1st s f g 6s. 1931
fc

30 104

M-S

105 4 Sale

M-N
F-A

1004 J ’ne’02
75 J a n ’0.3 —
........ 75
103 ......... 111 Mar’01
86
88
4
864
864

J-J

AO

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

101

J-D
J -J
M-S

105

1044

1054

50
.........

944

76

8 6 4 90

F e b ’02

94

73

1054

11

101 F e b ’97
113 4 J ’ l y ’00
85 J a n ’ 03 —

fcD u eF eb c D u e M a r d b u e A p r j f b u e J ’ne A D u e J ’ly ic Duo Ang p D ue N ov ? D ue Deo

94

95

85

85

s Option s&U

THE

J a n u a r y 31, 1903.]

Volume of Business at Stock Exchanges
T R A N S A C T IO N S A T T H E N E W Y O R K STOCK E X C H A N G E
D A IL Y . W E E K L Y A N D Y E A R L Y
S lo c k s

W eek e n d in g
Jan 30
1903

P a r v a lu e

Sha/res

S la te
B onds

R a il r o a d &c
B onds

V S
B onds

$ 1,000

$18,483,000
32,454,050
43.201,900
26,362,700
39,100,950
39,089,500

$1,151,000
3.350.500
2.238.500
2,212,000
2.546.500
2,860.000

$10,000
4,500
5,000

2,119,028 $198,812,100

$14,358,500

$19,500

202,305
313,840
445,494
290,002
416,526
420,861

Saturday ...
Monday . . . .
T u esd ay. . . .
W ednesday.
T h ursday...
F rid a y ........
Total

1903

$1,000

J a n u a r y 1 to J a n 3 0

W eek e n d in g J a n 3 0

S a le 8 at
N ew Y o r k S tock
E xch a n ge

1902

1903

1902

15,855,185
14,799,223
2,851.374
2,119,028
Stocks— o. shares
-N
Par v a lu e......... $198,812.100 $273,393,400 $1,501,531,250 $1,386,108,000
$13,400
$55,200
$1,600
Bank shares, par..
BONDS

$1,000
19,500
14.358,500

$33,500
i49 ,0 0 0
18,513,000

$32,000
129,500
65,600,500

$111,000
182,000
92,487.000

$14,379,0011

$18,695,500

$65,762,000

$92,780,000

G overnm ent bonds
State bonds............
RR. and mis. bonds
Total bonds.

D A IL Y T R A N S A C T IO N S A T T H E BOSTON A N D P H I L A D E L P H I A
EXCHANGES
W e ek e n d in g
Jan 30
1903

P h ila d e lp h ia

B o s to n
U n listed
sh a res

L is te d
sh a re s

B ond
s a les

L is te d
sh a res

U n listed
sh a res

B ond
s a le s

10,751
15,406
28.426
22,834
30,6 10
21,410

4,084
3.414
9,920
11,993
10,696
12,797

$49,500
98.500
89,980
135.0(H)
128,150
67.500

7,941
20.525
26,202
25.526
40,870
44,316

1,290
4,796
7,746
2,779
6,382
10,836

$55,000
69,400
35.100
90,600
82.100
199,100

T otal.......... 129,527

52,904

$568,630

165,380

33,829

$531,300

Saturday .......
M o n d a y ........
T u esd a y .........
W ed n esd a y . .
Thursday.......
F r id a y ...........

Outside Securities
A

W e e k ly R ev ie w o f O u tsid e M a r k e t x o ill be fo u n d o n a p r e c e d i n g p a g e .

S tre e t R a ilw a y s

B id

A sk

NEW YORK CITY

Bleeck St& FuJ F stk 100
Hist mort 4s 1950 ..J-J
f B ’y & 7th A v e stk ..1 0 0
Hist mort 5s 1904 ..J -D
fl2d m ort 5s 1914 ...J -J
Con 5s 1943 S ee Stock
B’ way Surf 1st 5s gu 1924
2d 5s int as rental 1905
HCent’ l Crosst’ n stk .. 100
Hist M 6s 1922 ...M -N
tOen P k N & E R stk. 100
vChr’ t’ r& 10th St stk 100
Co 16c 9tli A v e 5s S ee Stock
c nrv I) E B 6c B stk 100
Hist gold 5s 1 9 3 2 ...J-D
iJScrip 5s 1914 ....F - A
HEighth A v e n u e s t ...100
" 1[.Scrip (is 1914
. F-A
H42d<fe G r St F ’y s tk .. 100
$42d St M Sc St N A v 100
Hist m ort 6s 1910 .M-S
l|2d Income 6s 1915 J-J
Lex A v & Pav F 5s S ee St
M etropol Securities See
M etropol Street R y See
Ninth A ven u e stock . 100
Second A v en u e stocklOO
Hist mort 5s 1909 M-N
Consol 5s 1948.......F-A
flSixth A ven u e stock 100
Sou Boulev 5s 1 9 4 5 ..J-J
So Fer 1st 5s 19 1 9 ...A -O
Third A venue S ee Stock
Tarry W P & M 5s 1928
YkersSLRLi 5s 1946A-O
28th & 29th Sts 1st 5s ’96
IJTwenty-Tli’d St stk 100
Deb 5s 1906..............J-J
Union Ry 1st 5s 1942 F-A
W estchest 1st 5s ’43 J -J

35
37
100 101
247 251
100 100%
107% 109
Exch list
§112 114
§101 101%
265 275
§123 126
210 215
185 190
Exch list
110 120
115 117
104%
103
405 415
105 109
410 415
70
75
111 112
96 100
k E xc list
Stk E x list
Stk E x list
190 205
212 217
§105*4 106
§116 118
175 180
§111% 112%
§108 n o
Exch list
109
107
109 n o
§113 114%
408 415
102 106
118% 119
113% 114%

S tr e e t R a ilw a y s
Grand Rapids R y ___ 100
P re fe rre d ................. 100
Indianapolis St R y S ee
J C H ob < P a terson ..100
fc
4s g N o v 1 1 9 4 9 ...M -N
Lake St (Chic) El stk . 100
1st 5s 1928................J-J
IJLouisv St 5s 1 9 30..J & J
Lynn& Bos 1st 5s ’ 2 4 .J-D
M inneap St Ry 5s S ee Stk
N ew Orl R y s C o ......... 100
P re fe rre d ................. 100
4% s 1952...................J-J
N orth Chic Str stock. 100
1st 5s 1909 ..............J-J
N orth Jersey St stocklOO
4s 1948 ...................M-N
Pat R y con 6s 1 9 3 1 ..J-D
2d 6s 1914............... A-O
R ochester R y . . . . ....... 100
P re fe rre d ................. 100
Con 5s 1930 S ee Pliila
2d 5s 1933................ 1-D
So Side El (Chic) stk. 100
Syracuse Rap T r 5s 1946
Toledo ltys & L igh t See
Unit Rys (St L T ran s) 100
P r e fe r r e d ................. 100
Gen 4s 1934..............J-J
Unit ltys San Fran SeeStik
S u b s c r ip tio n s ...............
IJWest Chicago S t ___ 100
1[Con g 5s 1 9 3 6 ....M -N
G a s S e cu ritie s

255

C H R O N IC L E .

B id

A sk

56
95
Pliila
19
76%
7%
§ 99
§115
§112
Exch
14%
46
§ 80
165
§ .........
27
81
§125
§100
73
99%
list
§105%
107
102
Stk E
28
80
i 84%
E xch
49%
87
§ 96

60
97%
list
20
78
8%
102
118
114
list
15%
50
81
168
28
82
130
76
100%
108
108%
105
x list
29
8L
84%
list
49%
89
97

(«a 4 S e cu ritie s
B id
63
Tndianapolis Gas stock 50
1st 0s 1920............ M-N 104
J a c k s o n G a s C o ......... 50
81
5s £ 1937..................A-O §101
12
Kansas City G as.........100
H5s 1922....................A-O §100%
85
'[Laclede G as...............100
95
HPreferred .............. 100
Lafay’ eG a slst 6s’ 24.M-NT 50
Log& W abV 1st 6s’ 25.J-D
Madison Gas 6s 1926. A-O §107
Newark Gas 6s 1944.Q-J §140
72
Newark Consol G as.. 100
5s 1948 See Stock Exch list
1IO<fc In d C Nat < 111 .100
fc
42
1st 6s 1926.............. J-D
Providence G as.............50 1 112
95
St Joseph Gas 5s 1937. J-J
90
StPaulGas Gen 5s*44M-8
Syracuse Gas 5s 1940.J-J § 98
36
United Gas<fc Elec, N J 100
88
P re ferred .................. 100

Industrial and M incel
B id
A 8k
Continental T obac deb 7s 103 105
105
Cramps’ S h & E n BldglOO
48
55
IfCrucible S teel...........100
20 % 20%
104
1 P referred.................100
1
84% 85
15
D istillers’ S e c u r it . S e e St
E x c h list
101%
HCol tr 5s 1927 ....A -O
77
86% Dominion S ecu rities. 100
20
30
105
E lectric Boat...............100
22
26
60
P re fe rre d ..................100
35
40
50
E lectric Lead R educ’ n.50
3
3*4
109%
P r e fe r r e d ....................50
4
5
141
E lectric V eh icle.........100
7%
7 34
73
P re fe rre d .................. 100
12*2 1 3 i*
E lectro-Pneum ’ ic Tran 10
%
20
Em pire Steel.............. 100
12 > i C
3
50
P referred .................. 100
46
43
UGeneral Chemical ..1 0 0
61
63
98
HP referred................ 100
99% 101
92
Gorham M fg Co com . 100 128 %
100
P referred .................. 100 128%
38
G reene Consol Copper. 10
2 1 34 21 %
89
G uggenheim E xplorati’ n 150 160
H ackensack M eadows 100
18
19
T e le g r <fc T e le p h o n e
flail Signal C o ...........100 110 112
90
HAmerTelegcfc Cable 100
86
Havana Com m ercial. 100
15
20
B ellTeleph of Buffalo 100 100 lo 4
P re fe rre d .................. 100
60
62
Havana T obacco Co (w i)
491-2 50%
IJCentral & So Ainer .100 100 103
46
42
Preferred (w i)...........
Ches < Poto T e le p h ..l0 0
fc
60
64
H ecker-Jones-Jew ’l M ill
5s 1909-29................. J-J 104% 105
170
1st 6s 1922.............. M-S
^Commercial Cable ..1 0 0 160
99 101
Ooramer Un Tel (N Y ).2 5 115
H erring-H a 11-M arvin 100
3
1
82
79
1st preferred....... ...1 0 0
Emp < Bay State T el 100
fc
35
25
53
47
2d preferred.............100
10
4
F ran k lin ....................... 100
H oboken Land Sc ImplOO 105
ffGold Sc s t o c k ...........l o o 120 123
U5s 1910.................. M-N 102
106
1J4%s, 1905 ..............
H ouston O i l ................ 100
Hudson RivfcrTeleph 100 100 104
8
6
5%
5%
P re fe rre d ..................100
M arconiW ireless Teleg.5
60
H udson R ealty..............
105 12 0
N orthw estern T eleg. 50 125
N Y & N J Telepho .100 164 166
In terboro R T (full paid) 115 116
50 % p a id ....................
116 117
1J5sl920 ..................M-N i 109 112
85
78
Pacific & A tlan tic....... 25
I nteruat’ lB an k in gC ol 00 200
205
13
Providence Telephone. 50 1115
In t’n ’ l M erc M arine. 100
13%
P re ferred .................. 100
40%
40
95 100
IjSouthern & A tlantic 25
7
Col tr deb 4 %1922op’ 07
100
Tel Tel & Cable of A m . 15 t .........
S u b scrip tion s.............
100
E le c tr ic C om p a n ies
International Salt___100
9% 10%
49
1st g 5s 1951...............
Chicago Edison C o ... 100 162 165
45
10
Edison El 111 Brk 4s N Y Stock Exch IJInternational S ilver 100
24
60%
1; P referred................ 100
Hartford (Ct) E lec Lt 100 210
41
1st 6s 1948................J-D
UK ings Co El L & P C o 100 216
98 100
John B Stetson co m .. 100 150 180
Narragan (P rov) El Co 50 1106 110
44
P re fe rre d .................. 100 150 170
N Y & Q El L&PowColOO
41
80
11%
P re fe rre d .................. 100
75
Lanstou M on otype___20 t 11
Law yers M ort In su r.1 00 200 215
R h olsl E lec Protec C o l00 118
370
16% 17*4 Law yers’ T itle I n s ...1 0 0 360
United E lectric of N J100
135
6 6 *2 66 % ULorillard (P )p r e f ...1 0 0 125
4s 1929.......................J-D
19
Madison Sq G ard en ..100
14
F e r r y C om p a n ies
60
2d 6s 1919...............M-N
M anhattan T ra n sit___20
13
Brooklyn F erry stocklOO
4
10
4%
ry
5%
7
M ex N at C onstrue.pf 100
B Sc N Y 1st 6s 1911.J-J 110 113
Con 5s 1948 S ee Stock Exch list
M onongahela R C o a l..50 i 11% l i %
P referred .................... 50 t 39% 40
85
N Y & E R Ferry stk. 100
80
102%
94
92
M osler Safe C o...........100
1st 5s 1922.............M-N
98
20
5
National Bread...........100
N Y & H oboken stk. 100
92%
P re fe rre d .................. 100
H ob Fy 1st 5s 1940 M-N 2109 % 110
27
101 *4 N ational C arbon.........100
'25
Con 5s 1946............J-D 101
P re fe rre d .................. 100
N Y & N J 1st 5s 1940.J-J 104 108
"
98 100
70
65
N at Enam ’ g & Stamp 100
34% 34%
10th & 23d Sts Ferry 100
94
P re fe rre d .................. 100
90
1st mort 5s 1 9 1 9 ...J-D 2105 106
43
42
National S u rety .........100 140
fl Union F erry stock .100
6%
97
N ew BrunsCaniielCoal 10 t 6
96
Hist 5s 1920 ...........M-N
53
48
UNew Central C o a l___ 20
R a ilr o a d
17
N ew E n g Consol Ic e . 100
15
92
N ew E n g T ra n sp or.. 100
91
Chic In d & L g u 4 sl9 5 2 J -J
%
%
N Y Biscuit 6s 1911.M-S 114 116
11
7
Chic Peo & St L pref.100
N Y Mtge<fc Sdcurit3r.100 127 132
Prior lien g 4 % s’ 30M<fcS 2106 108
95 100
Con m tg g 5s 1930.J& J
UNew Y ork D o c k ___ 100
^ P r e fe r r e d ..............l o o
Incom e 5s 1930..............
27 % 31
11
N orthern Securities.. 100 11 3 113% N Y T ra n sp o rta tio n ...20 t 10
37
35
N icholson F ile C o___ 100 153
Pitts Bess & L E .........50
10
P referred .................... 50
78
N or Am L um ’r& PulplOO
8
74
6%
Pitts L is & W con 4s (w l)
5%
UfOntano S i l v e r .........100
20
Otis E levator co m ___100
43% 44
Va<fc S o u th w e s te r n ..!00
99
P re fe rre d ................. l o o
98
111st guar g 5s 2003.J-J 101 103
P ittsburg B rew in g ___ 50 ♦ 31%
In d u strial and 3 Iiscel
P re ferred ................... 50 t 47%
P ittsburg Coal............ 100
99 102
28% 28%
A ck er M er & C on d it...6 s
P re fe rre d ................. 100
112
A lliance R ealty.........100
83% 89%
18*8 1 8 *4 Pitts Plate G lass....... 100
138
IJAllis-Chalniers......... 1 00
1]P referred................ 100
Pratt Sc W liitu p ref.,1 0 0
84 \
99 . . . . M
340
Procter & G am ble___100
57
54
IJAmer Bank N ote Co. 50
P re fe rre d .................. 100 204% 206
A m erican Can c o m ... 100
9 34 10*3
122
P re fe rre d ..................100
48% Realty A sso c (BklynUOO 119
48
Royal Bak Pow d pref.100 103% 104
A m erican Chicle C o.. 100 114 118
63
Russell 6c E rw in ........ 25 * 61
91
P referred .................. 100
90
Safety Car Heat 6c Lt 101 165 170
1
Am erican E levated..
%
Sem inole M in in g ...........;
5
Am or G rai)hoplione...lO
4%
161%
P re fe rre d .................... l o
9
9% Simmons Hardw com 10>
P r e fe rre d .................. 100 138
Araer Press A ss o c’ n.100
90
2d preferred.............100
53
146
Am er Shipbu ildin g... 1<
K) 51
P re fe rre d ................ lo o 102 105
Singer M fg C o.............100 320
6
9
Am Soda Foun co m .. 100
Standard M illin g Co. 100
7
3
29
P re ferred .................. 100
1st preferred............ 100
75
27
65
5 s .................................
22
75
78
2d preferred............ 100
18
Am erican Surety.........50 172 178
Standard Oil of N J ..1 0 0 739 741
49
36
Am Straw board rects 100
47
33
P re ferred .................. 100 130 135
Bonds Os................... F-A 100
1
Am er T obacco c o m ... 50 300
Storage P ow er...............50
%
1 P referred................ 100 143 146
1
Sw ift Sc Co S ee Boston St k E x c h’ ge
45
103
42
1st 5s 1 9 1 0 -1 9 1 4 ....J-J §102
Am T ypefo’ rs c o m ... 100
Tennessee C opper....... 25 \ 21% 22
P re ferred .................. 100
98 102
80
5% UT ex as 6c P acific Coal 100
Am er W riting Paper. 100
5%
75
P re ferred .................. l o o
24%
1st 6s 1908.............. A-O §106 n o
24
5s 1919.......................J-J
78
T itle Guar Sc T r (new ) 100 520 540
76
UBarney & Sm Car ...1 0 0
T itle In s Co of N Y ..1 0 0 157 162
20
26
27
25
f P referred................100 128 134
TrentonPotteriescom lO O
98
Bliss Company com ___50 145
96
Preferred n ew .........100
75
P re ferred ....................50 140 115
72
Trow D irectory n e w .. 100
Bond<feMtgGuar new 100 390 400
2%
U nion C opper................ 10 t 2%
Borden’ s C on d M ilk .. 100 122
Union Sw itch & Signal 50 t 85
P re ferred .................. 100 110 112 | P re fe rre d .......... ......... 5( ( ......... 105
Brit Colum Cop S ee Bost stock Exch Union T vpew r co m .. 100 123 125
Camden Land................ 20
1st preferred.............100 124 125
%
Celluloid C o.................. lo o 119 121
2d preferred.............100 123 125
8
U S Cotton D uck....... 100
6
Cent Firew orks com . 100
24
20
20
10
Preferred................... 100
U S Envelope c o m ... 100
68
63
73
HP referred................ 100
Central Foundry....... 100
68
3%
5%
P re fe rre d ..................100
|
16% 16 % IfU S Red 6c R efining .100 . . . . . . *.......
1 l ‘r e fe m d ................ 100
Cnesebrough M fg Co 100 455 470
HClatlin(H B) ls t p r e f 100
1JU S Shipbuilding ...1 0 0 ........
95 100
UP referred............... l o o
112d preferred...........100
98
94
1' Bonds—s e e Stock E x c h list
IICom m on.................. 100
92
96
98 100
»s
Col & Hock Coal & I p f 100
65 1 U S Silver Corp C ( wi ) .
60
96
95
U S Steel Corp ; > >
wh iss)
1st g 5s 1917............ J -J
70
Col tr 5s Ser B «fc D 1951 112 115
Compressed A ir C o ... 100
3
2%
2
U niversal T o b a c c o ... 100
1
Consolid Car H eating 100
75
65
20
10
IJCons Firew ’ ks com .100
30
20
35% 36%
IJYa Ir Coal cfc C ok e.. 100
UPreferred................ 100
65
60
79%
78
H ist5 s 1949............M-S
Cons R y Ltir<fc R efrig. 100
5%
5%
2
V ulcan D etiuning. S ee St k E xc h list
Consol R ubber T ire .. 100
1
P r e fe r r e d ............ S ee St k E xc h list
Debenture 4 s.................
10
12
W estingli A ir B rak e..50 1......... 175%
Cons Storage B attery ioo
20
15
W hite K nob M ining. 100
10% 11%
Consol T o b a cco .......... 100 300
_
120 125
R ig h t s .............................
35

Cent Union Gas 1st 5 s ... §109 112
Con Gas (N Y )s tk . S ee St k E x c h list
Equit Gas con 5s 1932 See Stk E x list
HMutual G a s ..............100 310 330
N ew Amsterdam Gas—
BROOKLYN
1st consol 5s 1 9 4 8 .-J-J §108% 109%
Atlan A v e 5s 1909..A-O §104% 105% N Y G E L H<&P See Stock Exch list
Con 5s g 1931 _ .A-O 112
N Y fr. East R iver (-ins—
Im pt 5s See Stock E xc li list
1st 5s 1944.......... ...J-J §112 114
B B & W E 5s 1933. .A-O 102 104
Consol 5s 1945.........J-J §109 111
Brooklyn City stock. ..1 0 244 245
N or Un 1st 5s 1927.M-N §104 107
Con 5s S ee Stock Exch list
UStandard Gas com . . l o o 130 140
Bkln Crosstn 5s 1908.J -J 104 107
HPreferred ..............100 150 160
Bkn Hgts 1st 5s 1941 A-O 105 108
1st 5s 1930............ M-N §115 117
BkluQCo<fc Sub See Stk Exch list
OTHER CITIES
Bkiyu Rap Tran S ee Stk Excli list
44
46
Ref g 4s 2002 .......... J-J § ......... 87 % Am er Light
T ract 100
91
94
f Coney Is. 6c Bklyn ..1 0 0 360 400 “
P re fe rred ................. 100
Hist os 1903 ............ J-J 100
Baltimore Oonsolidat S p.p Balt list
1
5a ertfs indbt 1903..J-J 100 100% Bay State G a s ..............50
%
Brk C & N 5s 1939.J-J 114 116
97
Bingham ton Gas 5s 1938 § 94
GrSU&New 1st 5 s ’06 F-A 103
Boston United Gas bonds Bosto n list
Gr’ pt tfcLorimer St 1st 6s 105 107
9
10
Buffalo City Gas stock 100
Kings Co. Elevated—
82
84
1st 5s 1947 ............ A-O
1st 4s 1949 See Stock Exch list
Chicago Gas S ee N Y St k Exch list
Nassau Elec prel....... 100
99% 99%
83% 85
Cincinnati Gas Sc EleclOO
6s 1944.................... A-O 113 115
Col Gas 1j tfc Heat com 14)0
108
1st 4s 1951.......... See St k E x c h list
P re fe rred ................. 100 103*% 103%
W b ’ g«fc Flat 1st ex 4% s. 105 106
HColGos 1st 5s 1932 J-J 108 109
Stein way 1st 6s 1922. J-J §116 119
17
Consol Gas ( N J ) stk. 100
87
1st 5s 1936................J-J
OTHER CITIES
Cousum Gas (J C ity)—
Buffalo Street Ry—
1st 6s 1904............ M-N §102 104
1st consol 5s 1 9 3 1 ..F-A §112
|
113% 1 Detroit City G a s ....... 50 1......... 86
Deb 6s 1917............A.O §106
32 % 34
Essex
Hudson Gas 100
Chicago City Ry stk. 100 230 240
Fort W ayne 6s 1925.. J-J
55
Chic U uionTraoSeaSt’ck Exch list
IfGas & El Bergen Co 100
Cleveland City R y ....lO () 105 111)
Grand Rapids Gas—
Cleveland Electr R y.100
87
88%
Hist 5s 1 9 1 5 .......... F-A §103 106
Columbus (O) St Ry. .1 0 0
60
Hartford (Ct) Gas L ...2 5 t 50
oo
62
P referred............... 1o i 102 104
Hudson Co G as.......... 100
39% 41
Colum Ry con 5s See Pli ila list
5s g 1949 ............... M-N §104
104%
^O rosst’ wn lst5s*33.J-I) § ...... 111
Indiana Nat 6c 111 Gas—
Detroit United U y S e e Stk Exch list
1st 6s 1908............ M-N
49
5 Buyer pays accrued interest.
1 P rice per share.
t Sale price.
a E x rights.

A sk

l* Sells on Stock Exchange, but not a very active security,

BOSTON STOCK EXCHANGE—Stock Record, Daily, Weekly and Yearly
S h a r e P r ic e s — N ot P e r C en tu m P r ic e s
S a tu rd a y
J a n. 24

M onday
Jan. 2 6

T u esd a y
Jan. 2 ?

W ed n esd a y
Jan. 28

T h u rsd a y
Jan. 29

l Y id a y
Jan. 3 0

STOCKS
BOSTON STOCK
EXCHANGE

S ales
o f the
W eek
Shares

M ange j o r Y ea r
1903
L ow est

H ig h e s t

R an ge lo r M rev iou t
Y ea r ( 1 9 0 2 J
L ow est

H ig h est

K u ilr o u d *
87 k A tc h T o p & Santa FelO O 1,823 84 J a n 3 89 78 J a n 10 7 4 k Jan 96 k Sep
87 k
87k
100
866 99 k J an 26 1 0 3 k J a n 10 9 5 k M ar 106 Sep
100
D o p r e f .................100
99 k
259
*258
259
40 257 J a n 9 259 J a n 5 2 5 6 k D ec 2 66 M ay
B o sto n & A lb a n y ___ 100
971 1 5 0 k J an 30 154 J a n 5 149 k D e c 1 7 3 k M a r
1 53k x lo O k
1 5 0 k B oston E le v a te d ........100
.......... *240
241
72 240 J a n 19 241 J a n 7 236 .1’ lie
B o sto n & L o w e ll
. 100
190
190
535 190 Jan 24 195 J a n 5 190 k N ov 209 A p r
190
B o sto n < M a in e ........100
&
62 175 J a n 28 17534 Jan 28 171 O ct
......... *175
177
D o p r e f .................100
299
*299
300
14 299 J a n 29 301 Jau 19 297 k J ’ lie 307 M a r
B o sto n & P r o v id e n c e 100
154
152
211 152 J a n 20 157 J a n 6 150 Sep 172 M a r
1 5 3 k C liic J u n c R y A U S Y l 00
.......... 123 k 123 k
35 122 k J a n 16 125 J a n 2 123 N ov 136 M a r
^
D o p r e f ___ . . . . . . 1 0 0
S a l e 196
J a n *03 Con <fc M o n t C lass 4 . . 100
190 J a n 6 196 J a n 6 196 N ov 202 J an
10 160 J an 5 16534 .Tan 27 100 1 ’ lie 166 lo Ffth
.......... *165
C on n «fc Pass H iv p r e f 100
.......... *2 8 0
8 281 io Jan 27 281 ^ J an ‘>7 2 80 O ct 295 F e b
C o n n e c tic u t R iv e r
100
216 140 ” J a n 16 142 ^ J a n 3 141 D e c 148 M a r
1 4 0 k 140
i*40k F ito h b u r g p r e f........... 100
S ep *02 H o u s to n L l ’ t r ic c o m . 100 ••••••
S a l e 49 k
•
47 J ’ly 50 J ’ ne
175
*175
22 1 75 Jan 26 175 .Tan 29 172 Jan 178t> j ’ lv
M ain e C e n t r a l ______ 100
37
37 k M a w E le c t r ic C o s ... .1 0 0 0,258 3 5 k Jan 23 3 7 k J a n 8 33 D ec 45 k A p r
37k
3 5 ’ 4 30
972 93 J a n 29 96 J a n 7 92 Jau 99 J ’iie
93
93 k
93k
D o p r e f.................100
* .......... 94
Jan ’ 03 M e x ica n C en tral
S a le £ 6 k
..1 0 0
2 6 k J an 12 2 6 k J a n 6 22 k D ec 31 M a r
*24k 2 5 k
221
221
221
263 220 k J a n 26 2 25 J a n 7 210 Jau 254 A p r
N Y N H <fc H a r t ....1 0 0
221 221
15 170 J a n 8 171 J a n 2 8 170 Jan 175 J an
N o rth e rn N H ........... 100
* 1 7 0 ..........
S a l e 231
Jan *03 N o r w ic h & W o r p r e f 100
230 J a n 6 231 J a n 6 230 Jan 238 A p r
208
81 207 J a n 3 209 J a n 8 206 D e c 217 A p r
•207 k O ld C o lo n y ................... 100
207k
♦207 .........
80
80
80
678 80 J a n 28 84 Jau 22 68 M av 85 k Sep
P e re M a r q u e tte ..........100
81
81
83
83
*81
37 80 J an 2 85 J a n 9 79 k M ay 91 J ’ly
D o p r e f ................ 100
83
83
70
*65
70
868 66 J a n 15 71 J a n 2 0
6 4 k D ec 1 2 5 k A p r
R u tlan d p r o f............... 100
*69
70k
S a l e 25
J a n ’ 03 S avan n ah E le c c o m .. 100
25 J a n 12 25 J an 12 25 N o v 31 J ’ly
*23
25
81
102 75 J a n 5 8 4 3 Jan 10 58 Jan 90 M ay
S ea ttle E le c t r ic ___ 100
4
83
83
101
101
80 101 J a n 28 1 0 4 k J a n 6 103 O ct 110 M a r
101
D o p r e t .................100
102 102
1003
4 102
lO l^ lo H *
U n io n P a c ific ............1 0 0 1.7U5 1 0 0 k J a n 23 1 0 4 k J a n 9 9 3 k D ec 113 A u g
io ik
......
26 92 J a n 2 95 J a n 27 8 6 k M ar 94 k A u g
94k ......
D o p r e f.................100
94
94
S a l e 1 7 4 k D e o ’ 02 V e r m o n t & M a s s ....1 0 0
172 Jan 178 J ’ ly
93 94 J a n 15 9 5 .Ta n 3 92 k O ct 99 M ar
..........
. . . 50
94
94
94 k
9 4 k W est E nd St
15 111 J an 3 112 k J a n 29 1 1 1 k D ec 117 j ’ n e
1 1 2 k *112
D o pref
__ ._ 50
*112 ..........
263c J an 15
s a l e 26k
J a n *03 W is c o n s in C entral .1 0 0
1 9 k Jan 3 4 7s J ’ ly
S a l e 52
J a n ’ 03
D o p r e f............... .1 0 0
52 J a n 15 52 J an 15 3 9 k Jan 55 k Sep
S a l e 150
J a n ’ 03 W o r e N a sh < R o c lu .lO O
150 J a n 14 150 J a n 14 145 N ov 152 k May
fe
M is c e l la n e o u s
2 3 k 24
788 22 J a n 6 24*4 J a n 10
24
24
23
19 D e c 32 k J ’ ly
23 k 2 3 k
A m e r A g n c u l C hem .lO O
23k
*22*3 23
* 2 2 k 23
82
82k
83
546 81 J a n 5 8 4 J a n 1 5 7 6 k D ec 91 J ’ly
*82
82
82k
82 k
82
D o p r e f.................100
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*1 6 5 ..........
*280 ..........
141 141
* .......... 4 4

87k
99k
'2 5 8 k
153 k
'2 4 0
190
♦175
299
*152
'1 2 3
Last
*165
*280
*280
140k
141
*
Last
175
175
35 k 37
36
36k
93k 93k
93
94
*951*
* 2 4 k 25 k L a s t
221 2 2 1 k 221
220 k
171 171
*170
Last
203
2 0 7 k 209
*207
80
80
80
*80k
*
•82
87
82
♦
*65
68
71
*23
25
Last
*23
*80
82
*78
*80
101
101 101
*101
102 102
lo ik
101k
94
* 0 4 k 9 4 k '9 4 k
Last
*9 4
94
94 k '9 4
94k
9 4 k '9 4
♦112 .......... 1 1 2 k
*112
*112
Last
Last
•••••• •••••• •••••• •••••• •••••• •••••• L a s t

87*8
99k
258
153
94.1
*190 k
*175
•
153k
"1 2 3
•194

Boston Bond Record

BONDS
BO STO N STOCK E X C H ’G E

WEfcK ENDING JANUARY 30
A m B ell T e le p h o n e 4 s -----1908
A m T e le p A T e l co ll tr 48 .1 9 2 9
A tc li A N e b ra sk a 1st 7 s . .1 9 0 8
A tc li T o p A S F e g e n g 4 s. .1 9 9 5
A d ju s tm e n t g 4 s — J'|y 1995
B o ston A L o w e ll 4 s ........... 1907
B oston A M a in e 4 T 8 .......... 1944
Im p ro v e m e n t 4 s . . . . ..1 9 0 5
B o st A M on 3d issu e 7 s . . . 1904
B oston T erm in a l 1 st 3 * 1947
28.
B o stU n G a s ls t 5s tr rects-1 9 3 9
2d 5s tr u s t r e c e ip t s ........1939
B u r A M o R iv e x 0 s ........... 1918
N o n -e x e m p t 6s ................. 1918
S in k in g fu n d 4 s ................1910
B u tte A B oston 1st 6s -----1917
C edar R a p A M o R 1 st 7 s. 1910
2d 78 ......................................1909
C ent V e r m t 1 st g 4 s ..M a y l 9 2 0
C h ic B u rl A Q 1st 7 s ......... 1903
Io w a D iv 1st 5 s ................1919
I o w a D lv 1st 4 s ................ 1919
D e b e n tu re 5 s ......................1913
D e n v e r E x t e n 4 s ............. 1922
N e b ra sk a E x t e n 4 s ........1927
B A S W s f 4 s ....................1921
Illin o is D lv 3 ^ s ................ 1949
J o in t b on d s See G t N orth e rn
C h ic J c R y A S tk Y d s 5s .1 9 1 5
C oll tru st r e fu n d in g g 4 s l 940
Ch M il A S t P D u b I) Os.. 1920
Ch M A S t P W is V d iv 6s l 920
C h ic A N o M ich 1 st gu 5 s. 1931
C h ic A W M ich g en 5 s . . . . 1921
C o n co rd A M o n t co n s 4 s .. 1920
C onn A P ass R 1st g 4 s . . . 1943
C u rren t R iv e r 1 st 5 s ......... 1927
D e t G r R ap A W 1st 4 s . . . 1946
D o m in ion C oal 1st O s ........1913
E a stern 1st g o ld 6s ..............1900
F itc h b u r g 4 s .........................1904
4 s ...........................................1927
F re m t E l k A M o V 1st 6s . . 1933
U n sta m p ed 1st Os........... 1933
G t N o r C B A Q co ll tr 4s 1921
R e g is te r e d 4 s ..................... 1921

W eek ’ s
R a n g e or
L a st S ale

P r ic e
F r id a y
Jan 30
J -J
J -J
M-S
AO
N ov
J-T)
J -J
F-A
M-N
F-A
J -J
J -J
J -J
J -J
J -J
A-O
M-N
J -D
Q -F
J -J
A -O
A-O
M-N
F-A
M-N
M-S
J -J
J -J
A-O
J -J
J -J
M-N
J -D
J -D
A-O
A -O
A-O
MS
M-S
M-S
M-S
A -O
A -O
J -J
Q -J

BONDS
BOSTON STOCK E X C H ’GE
W e e k E n d in g J a n u a r y 30

R ange
S in ce
J a n u a ry 1

High
B id
A 8k L ow
98*4
9H7ft
98*2 99
98 Sale
97*4
98*«
119 D e c ’ 01
........ 100*4 101*4
101
92*8
92*2
02*2 Sale
104 *2 A p r ’ 00
1 2 6 3 A p r ’ 01
4
9 9 7S Jan ’ 02
104 A p r ’ 02
113*2 113*2
1 0 6 58 Sale 106*4 1 0 6 ne
80 *2 Sale
8 0 34
81
116 ....... 117*8 D e c ’ 02
105*2 J ’ ly ’ 02
99 O c t ’ 02
100 J ’ n e ’01
138 S ep ’ 01
125*8 A u g ’ OO
87 r Sale
4
87*4
87*4
101 101*2 1 0 0 7a 101
110 A p r ’ 01
103 * O ct ’ 02
b
108*4 O c t ’ 02
100
100
1 0 0 ........ . 106 D e c ’ 02
99*4 N o v ’ 02
90*4 Sale
96
96*2

N o Low Hif/h
17 98*2 99
67 9 7 34 98
25 100*8 101*4

2

90\ 92*2

1 113*2113*2
188 1023b 1()734
4U 80
85

3“

86*2 88
1 0 0 7e 101*4

9038 100

14

96

96*2

2 105*21 0 7 34
106
108
9 8 Jan ’ 03
98
98*2
* 2 127 128
128
1 2 7 * 2 ......... 128
1 127*2127*2
1 2 6 * 2 ......... 127*2 127*2
10634 Jan ’ 03
106 107
106*4 100*4
106*4
106 Sale 106
106 107*2
109*4 M a r’ 02
112*4 112*4
112*4112*4
105 103 J a n ’ 03
102*2 103
09*2 100
99*2
99*2
99*2
108*2 J a n ’ 03
109
108*2 108*2
107
107 *g J a n ’ 03
107 107*8
1 0 0 7s M a r’ 02
111*4 M ay’ 02
137 . . . . 135 *2 N o v ’ 02
138 138
137 . . . . 136 O ct ’ 02
93 7s 46 93*8 94*2
03 *8 93*2 933s
*
94 J a n ’ 03
94
94
106

257
I n t’ st
P eriod

J a n u a r y 31, 1903.]

107

P rice
J'Yiday
Jan 30

Illin o is S teel d e b e n 5 s . ...1 9 1 0 J -J
N o n -c o n v e r t d e b e n 5 s . ..1 9 1 3 A-O
la F a lls A S io u x C 1 st 7 s ..1 9 1 7 A -O
K an C C lin So S p r 1 st 3 s . . . 1925 A-O
K an C F t S So G u lf 1st 7 s ..1 9 0 8 J-D
Kan C F t S c o tt So M 6s . . . . 1928 M-N
Kan C M So B g e n 4 s ........... 1934 M-S
Sj> 1
In c o m e 5 s ............................. M a r 1934
Kan C So M l i y So B r 1 st 5 s l9 2 9 A O
K a n C S t J o So C B 1st 7 s .. 1907 J -J
L R A F t Sm Id g r 1 st 7 s . . . 1905 J -J
M a in e C ent c o n s 1st 7 s . ..1 9 1 2 A-O
C on s 1st 4 s ......................... 1912 A-O
M arq H ou g li So O n t 1st 6 s .1925 A-O
M e x ica n C en tra l c o n s 4 s . .1911 J -J
1 st c o n s in c 3 s ............ Jan 1939 J ’ ly
2d co n s in c 3 s ............./a n 1939 J ’ ly
M ich T e le p c o n s 5s t r r e c .1 9 2 9 J -J
M in n e G en E le c c o n g 5s 1929 J -J
N e w E n g C ot Y a rn 5 s . ...1 9 2 9 F-A
N e w E n g T e le p h 6s ........... 1906 A-O
6s ........................................... 1907 A-O
6 s ........................................... 1908 A-O
6s ........................................... 1915 A -O
N Y A N E n g 1 st 7 s ............1905 J -J
1 st 6s ............................ . . . . 1 9 0 5 J -J
Old C o lo n y g o ld 4 s .............. 1924 F-A
O re g R y So N a v co n g 4 s . . 1946 J -D
O re g Sh L in e 1 st g 6s ........1922 F-A
R ep u b V a lle y 1st s f 6 s ...1 9 1 9 J -J
R u tla n d 1st 6s ....................... 1902 M-N
R u tla n d -C a n a d ia n 1st 4s 1949 J -J
S ava n n a li K lee 1st c o n s 5s. 1952 J -J
S ea ttle E le c 1st g 5 s ..........1930 F-A
M-S
U n ion P a c R R & 1 g r g 4 s . 1947 J -J
1 st lien c o n v 4 s ..................1911 M-N
U n ite d F ru it c o n v g e n 5 s. 1911 M-S
V e r m o n t So M ass 5 s ........... 1903 M-N
W e s t E n d S tre e t R y g 5 s .. 1902 M-N
G old 4*23.............................. 1914 M-S
M-N
G old 4 s ................................. 1917 F-A
W e ste r n T e le p h So T e l 5s.l9 3 2 | J -J
W is c o n s in C ent 1st g e n 4 s l9 4 9 , J - J
-J
W is c o n s in V a lle y 1st 7 s ..l9 0 9 | , J - J

N o t e —B u y e r pays a ooru ed in te r e s t in a d d itio n to th e p u rch a se p r ic e fo r all B o s to n B on d s.

W eek’ s
R cm ge or
Last S ale

Range
S in ce
35 s. J a n u a r y 1

if

H i g h No L ow H i g h
A s k Iyow
......... 101 *2 D e c ’ 02
i : 101 101*2
.......... 101
101
1 3 2 38 J ’ n e ’ 92
1 0 2 *4 ......... 103
102 ^ 1 0 3 "
103
112 .......... 112 D e c ’ 02
123 124
123
124
122 124*4
99 Bale
98
99
99
99
89*2
9o
89*2 91
110*2 J ’ n e ’ 02
..........110
2u 110*2111
111
111
104 104
104 Jan *03
..........104
128 J ’ l y ’ 02
105*4 M ay’ 01
118 .......... 118 S e p ’ 02
76*2 Sale
76*2
76*2 13 75*2 7 6 68
26 J a n ’ 03
26
26
21*2 J ’ ue’ 02
83 D e c ’ 02
104 M a r’ 02
102 103
102*4 Sale 102*4 102*4
104 A p r ’ 02
104 ......... 105 F e b ’ 02
104 .......... 104 N o v ’ 02
107*4 O ct ’ 02
1 0 5 *4 ......... 105*8 105*4 30 105*4 106
4 103*2 103*4
1 0 3 * 2 ......... 103*4 103*4
112 M ay’ 01
100 *8 O ct ’ 02
•••••• •••••* 124*4 N o v ’ 02
105 O ct ’ 02
100 J ’ n e’ 02
102 M a r’ 02
08 100
.......... 96*2 97 *2 A u g ’ 02
104*4 J a n ’ - ‘3
104*2 105
104*2 105
108*4 J ’ ly ’ 01
1 0 2 7g Nov*02
1 0 5 7e J a n ’ 03
105 7e 106
110 111
110*2
110*2 Sale 110
100 S ep ’ 02
101 O ct ’ 02
108
108
106*2108
104*4 A u g ’ 02
1 0 3 7 Jau ’ 03
8
1 0 3 7g 1 0 3 7a
104*2 105
104*4 105
104*4 104 7b
87*4 J ’ l y ’ 01
119*4 M a r’ 02

BUI
101
101

* N o p r ic e F r id a y ; la te st b id a n d ask ed .

U T r u s t Co. ctfs.

Philadelphia and Baltimore Stock Exchanges—Stock Record, Daily, Weekly, Yearly
-Not P er Centum P rices
S h a re P rices—
Monday
J a n 36

S a tu rd a y
J an 3d

T u esd a y
Jan 37

W ed n esd a y
J an 38

* lo

r
*4 ■

25 7a 20
7*8
7*4
83*2 33*2
*74
4130 41*8
3°g
3«8

14 *
25 7e
7*8
32*2
73
41*2
3*2

26
7*8
33*4
73
42
3*2

*
26
6**10
30
73
42

26
7*8
32
73*8
42*8

T hu rsd ay
J an 39

*4

1
4

26
26
7*4
6^10
30
31*2
73*8 74
42*8 43*4

25 7e 2 5 78
8*8
7*4
32
35
73
73
43*8 44*4
3*2
3*2

76 *276**10
76*8 76*2 765X 76*2
0
76"s 77
76*4 77
46
46 *8
46
46 *8
4 4 7s 45 *2
45
45
4 5 7e 46*«
8 *?
8'4
8 M0
8*8
8*10
8*4
8*4
8*8
8*8
8*8
16
16
15*4 15*2
16
•16*2 1 6 7fi
15*4 16
1 0 iJ
fe
30 7Q 313io
30
3!
30*4 31
30 7s 31*10
80*2 30*4
• 4 3 3 9 43
43*2 43*2
” 43*2 43*, ” 4 3 *2 43*4 *43*2 43*4
•37
37
37
37
37
37* ]0 *37 *H 37* h *37*8 37*8
4 6 7g 4 0 7s
46*4 46*4 *46*8 46*4
46*4 4 0 ::4
46*4 40*4
112 112
112 112
111*4 111*4 111*4 112
112*2113*2
25
25
25*2 26
25*2 25*2

P H IL A D E L P H IA
In active S tock s

A m erica n C e m e n t........10
im e r Ir o n So S te e l___ 50
A m erican R a ilw a y s ...5 0
Bell T e le p h o n e ............. 50
Cambria I r o n ..................50
Oamden So T r e n t o n ___ 10
C en tral C oal So C ok e. 1 on
P r e fe r r e d ................... 100
C onsol T ra o P it t s ......... 50
P r e fe r r e d ..................... 50
a n v ille B e s s e m e r ... 1*2
lam ond S tate S teel.
P r e fe r r e d ..................
E aston Con E le c t r ic ...5 0
E le otrio o f A m e r ic a .. .5 0
E le c S torage B a tt___ l o o
P r e fe r r e d ................... 100
•Germantown P a s s ....... 50
H a rrison B ros p r e f .. . 100
H e s to n v M an A F a ir ..50
P r e fe r r e d ..................... 50
In d ian ap ols S t............. 100
In te r Sm P A D yn am

E

N H aven Ir o n A S t e e l.5
N orth P en n sy lv a n ia

Pennvsylvania Salt...

T id ew a ter S
V nited N J 1
5 nit P ow So
.....

O U T l.

W e s t J ersey So Sea S h .

B id

A sk

J Y id a y
Jan 30

*70
70*4 71
70*2 70*2
115*4 115*4 *115
T 1 6 " 117
2 6 “ 20
26*4 26*4
26*4 26*4
42 «0 43
42*8 42*2
42 *2 42*2
*
14
*13*8 1 3 7e
13*4 14

*115*4 n o * * 115*0 115*o
*25*2
25 7« 25 78
42
42 ~ 42*1
42*4 42*4
42*2
*13*2 13*4
13*4 13*4 *13*2 13*4

P H IL A D E L P H IA

B on d s
8*4 A1 V a l E e x t Ts 1 9 1 0 A -O
5
A s p h a lt Co 5s 1949 tr ctfs
51
51*2 A t l C ity 1 st 5s g T 9 . M -N
73*2 74*2 B a lls T e r 1 st 5s 1 9 2 6 . J -I)
B e r g A E B r w 1st 6 s’ 21 J -J
4
B e th le S teel 6s 1 9 9 8 .Q -F
C he So D C an 1 st 5s T 6 J-J
C h oc A M e 1st 5s 1949 J-J
C h O k So G g e n 5s T 9 J-J
C it S t R y (I n d ) c o n 5s ’33
......... ......... C ol St R y 1st c o n 5s 1932
C o n T r a c o f N J 1st 5 s .’ 33
E So A 1 st M 5s 1920 M -N
E le c So P e o T r stk tr ctfs
’ *9*4 *“ 9 ^ E lm So W i l 1 st 6s T O .J -J
83
In c o m e 5 s ___ 2 8 6 2 . A -O
E q l i G as-L 1 st g o s 1928
147
H. So B T o p c o n 5s ’ 25 A -O
In d ia n a p o lis R y 4s. 1933
L e h ig h N a v 4*as T 4 .Q -J
R R s 4s g ........1 9 1 4 .Q-F
.......... ..........
G en M 4*28 g . 1 9 2 4 .Q -F
L e h V C 1 st 5s g *33.. J -J
10«8
L e h V o x t 4 s 1 st 1 9 4 8 . J -D
63
2d 7s 1 9 1 0 ................. M -S
G4
C o n s o l 6s 1 9 2 3 ........J -D
A n n u it y 6s ................J -D
5
5*2 L eh V T ra o 1st 4s ’ 2 9 . J -D
N a t A s p h a lt 5s 1 9 5 1 . J-J
109*4 110
N e w C on G as 5s 1948 J -D
N e w a r k P a ss c o n 5s 1930
50*2 52
N Y P h & N o 1st Is ’ 39 J-J
90*2 92
4 8 *2 49
In c o m e 4 s 1 9 3 9 ...M -N
107 *2 169
N o P e n n 1st 4s ’ 3 6 . . M -N
D e b e n 6s 1 9 0 5 ........M -S
98*4 98*2
4*2
5
P e n n g e n 6s r 1 9 1 0 ..V a r
C on sol 6s c 1 9 0 5 .. .V a r
2*4
2*2
4*4
C o n so l 5 s r 1 9 1 9 .. .V a r
280
P e n n So M d S teel c o n 6s.
49
48
P a A N Y C an 7s ’ 0 6 .J-D
........
C on o s 1 9 3 9..............A -O
........
C on 4s 1 9 3 9..............A-O
5*4
P e n n S te e l 1 st o s T 7 M -N
6 ** P e o p le ’ s T r tr c e r ts 4s ’ 43
73
81
P C o 1st A co l tr 5 s’ 49 M-S
8*8

* B id and asked p r ic e s ; no sa les o n th is day.

R a n g e / or Y ea r
1903

S a les
o f th e
( F o r B o n d s a n d In a c tiv e
W eek
S tock s see b elo w )
iShares
A C T IV E S T O C K S

B a ltim o re
C on solid a ted G a s ........... 100
N o rth e rn C e n tra l - T~
50
S eaboard A ir L i n e ........ 100
D o p r e t .................... 100
U n ited R y A E le c t r i c .. 50

P h ilad elp h ia
*4 A m erica n A l k a b ____ _ 50
D o p r e f__ . . . _____ 50
C a m b ria ‘St e e l ................. 50
s 2 4 78 25
8
8*8 C on sol L a k e S u p e r io r .. 100
35
Do p r e f............... . I 0 i‘
36*2
L e h ig h C oal A N a v . . . . 50
73*2 75
50
44*4 40 v L e h ig h V a lle y .........
8
3*2 M arsden C o ..................... 100
3*4
**4
*2 N a tio n a l A s p h a lt............ 50
*4
* *2
D o p r e f.................... 50
7 5 l 6i0 76*8 P e n n sy lv a n ia R R .......... 50
45
45*2 P h ila d e lp ’ a Co (P itts b ) 50
7*&i« 8*10 P h ila d elp h ia E le c t r i c .. 25
15 * P h i la R apid T r a n s it . . . 50
4
1 4 78
H e a d in g ............................ 50
30 *8 31
4 3 % 4 3 6b
D o 1 st p r e f............. 50
37
37
D o 2d p r e f............... 50
46*4 4 6 7e U n io n T r a c t o n ............... 50
113*4 11 5 *2 U n ite d G as Im p t........... 50
26 W e ls b a c li C o ................... 100
” 25

L ow est

1 .Tan 1 0
*

1,947 2 4 78 J an 30
28,505 6**10 Jan 27
10,496 30 J an 27
1,743 72 J an 7
65,009 3 7 7s J an 3
785
3*4 J a n 30

5
2
2
9
30
6

2 ,0 7 6
1.681
13,777
6,7 3 6
22 ,6 4 5
34
89
1,670
10,052
134

A sk

121*2
20*2

75l 5i 0 Jan
4 4 7b J a n
7*4 J an
1 4 7s J an
2916ie J an
42*4 J an
37 Jan
46 *2 J a n
110 J a n
24 J a n

H ig h e s t

B A L T IM O R E
In a c tiv e S to c k s
A tla n ta A C h a r lo tte .. 100
86*2 87
A tla u C o a s tL (C o n n ) 100
109
no
C a n ton C o ................... .1 0 0
104
106
G e o rg ia S ou A F l a . .. 100
109
1st p r e f....................... 100
108*2 1 0 8 78
2d p r e f......................... 100
116
117
G -B -S B r e w in g ........... 100
121*4
M t V e r n o n C ot D u c k ........
121*2
U n it E le c L A P p r e f.6 0
130
140
Bonds
8
0
A n a co stia A P o t 5 s ...........
107*4 108
A tl A Ch 1st 7 ...1 9 0 7 J-J
115
At 1Coast L (C t)c tfs 5s J-D
100
C tfs o f iu d e b t 4 s ___ J -J
. . . . . . Balt C P a ss 1st 5s ’ l l M -N
91
112
Balt F u n d g 5 s .1916 M -N
105*2 107
E x c h a n g e 3*28 1930 J-J
118*4 118*4
R e fu n d in g 3 *28 1952J-J
Balt A P 1st Os m i ' l l A -O
1st 68 t u n n e l.. 1911 J-J
i i s " 120
Balt T r a c 1st 5 s .. ’ 29 M -N
io s * i
N o B alt D iv 6s 1942 J-D
C o n v e r tib le 6 s . ’0 6 M -N
99
C en tra l R y 6 s ...1 9 1 2 J-J
107*2
C on sol 5 s ___ 1932 M -N
E x t A Im p 5 8 .1 9 3 2 M -S
C h a s C it y R y 1st 5 s *23 J-J
i'1 1 "
iio * i

26*4 J an
99ie J an
40*4 J an
75 J an
45 7a Jail
4 Jan

30 78*4 Jan 6
28 46*4 J a n 2
9 J an 8
2
3o 1 7 7 J an 5
e
13 34**18 Jan 2
21 44 J an 6
28 40*8 J an 6
3 47 *8 J an 8
3 115*2 J an 30
8 28 Jau 9

*«S ep

A sk

B A L T IM O R E

101
69*2
119
1 0 7 3e
128 ’
123*4
116*2
1 0 8 7e
108
123

101*2
70

124

110

112

Clias R y G A E l 5s ’ 99 M -S
C liarl C A A e x t 5 s .’ 09 J-J
2d 7 s .................1910 A-O
C ity So S u b 1st 5 s .. ’ 22 J -D
C ity A S u b (W a s )ls t 5 s ’ 48
C ol A G r n v 1 st 6 s. 1916 J-J
C on sol G as 6 s ...1 9 1 0 J -D
5 s ........................ 1939 J-D
Ga A A la 1st con 5s ’ 45 J-J
G a Car A N 1 st 5s g ’ 29 J-J
G e o rg ia P 1st 6s
*°° J-.T
G aSo A F la 1st 5s 1945J-J
G -B -S B re w 3-4s 1951 M-S
2d in co m e 5s 1951 M -N
K n o x v T r a c 1st 5s ’ 2 8 A -O
L a k eR E l 1st g u 5 s ’ 42M -S
M etS t( W a 6 li)ls t 5 s ’ 2 5 F A
M t V e r C ot D u c k 1st 5s.
I n c o m e s ............................
N e w Orl G as 1 st 5 s ..V a r
N p t N A O P 1st 5 s’ 3S M -N
N o r fo lk St 1st 5 s ’ 4 4 . . J-J
N o r th C en t 4 * 1925 A -O
2S
6s 1 9 0 4 ........................ J-J
S eries A 5s 1 9 2 6 ....J -J
S vries B 5s 1 9 2 6 . . . . J-J
P itt U n T ra c 5s 1 9 97.J-J
P o to V a l 1st 5s 1 9 4 1 ..J-J
S e c A v T ( P i t t s ) 5 s ‘ 34 J-D
S av F la A W est os ‘ 34 A -O
S eaboard A L 4 s 1950 A-O
Seal) A R oan 5s 1 9 2 6 . J-J
S ou th B ou n d 1st 5 s ..A -O
U E l L A P 1 st 4 *2S’ 29 M -N
U n R y A E l 1st 4 s ’ 49 M-S
In co m e 4 s 1 9 4 9 ........J-D
V a M id 1st 6s 1 9 0 6 ..M -S
2d series 6s 1 9 1 1 .. .M-S
3d series Os 1 9 1 6 ..M-S
4th ser 3-4-53 1 9 2 1 .M -S
5th series 5s 1 9 2 0 .M -S
V a (S tate) 3s n e w ’ 3 2 .J-J
F un d d ebt 2-3s 1991 J-J
W e s t N C con 6s 1914 J-J
W e s V a C A P 1st Bg’ l 1 J-J
W il A W e ld 5 s .. 1 9 3 5 .J-J

......

123*2
117*2
109*4

• • • • • • 111

114

116
.... .

1 nn
320
97
48
98
78

335
99

81
15
5*-2
6*4
33
37
14*4

100
100*4
109*2
116
114
94
92_,
107*3 108*4
1 2 2 H 124
2
110*8 110*2
113
117*4 118
1 15*«>
110 V 117
119*4 120
100*2 102
116 *
116
115

1

23 May
6 D ec
33 D e c
65 N o v
29*4 N ov
2 7e F eb
*8 Sep
*4 Sep
73*4 Jan
43 *2 D e c
3*8 Jan
8*4 J ’ ne
26*4 M ar
40 M ar
30 J an
32 Jan
101 *2 May
24 Jan

B id

i()7 *2
108

| L o w e s t is e x -d iv id em i
|

L ow est

*8 J a n 10

P h il E le c g o ld tr u s t c t fs .
T r u s t ce rt if s 4 s ...............
20
P So E g e n M 5 g ’ 2 0 . A -O
G en M 4s g 1 9 2 0 .. A A O
110*2
90
95
Pli So R ea d 2d 5s ’ 3 3 .A -O
C oil M 7s 1 9 1 1 ....... J -D
•*••••
i : 'i "
2
Con M 6s g 1 9 1 1 ___J-D
52
51
E x Im p M 4 s g ’ 4 7 .A -O
113
115
C on M o f *82 4s ’ 3 7 .J -J
108*2 109
T e r m in a l 5s g 1 9 1 1 .Q -F
P W A B co l t r 4s *21. J -J
R o c h e s te r R y c o n 5s 1930
107
......... S R E Side 1st 5s g *35 J-D
U T r a c P i t g e n 6s ’97 J-J
9 9 78 100*8 W e is b a ch s f 5 s 1 9 3 0 . J -D

121

H ig h e s t

8 70*2 Jan 19 72*<> Jan 5 62*4 Jan 74 *8 Sep
19 115*2 J au 16 118 J an 12 104 Jan 125*4 J ’ ly
1,150 25*4 Jau 23 28*4 J an 9 2 3 5a D e c 34*4 A u g
3,7 0 5 42 J an 26 45 J an 2 40*4 D e c 55*8 A u g
1,320 13 *2 Jan 19 14*4 J a n 3 13 O ct
17 M ar

•**

B id

R an ge lo r P rev io u s
Y ea r ( 1 9 0 3 )

A pr

29 *8 S ep
36 A p r
80*4 A p r
79*4 S ep
38*2 D e c
5**16 O ct
1*16 F e b
2*8 J ’ ly
85 Sep
50 5a A p r
9*2 Sep
18 7 O ct
8
39*16 S ep
4 5 * 8 Sep
40*l6 O ct
48*4 F e b
126 M ay
40 *2 Sep

B id

A sk

90*2
116*2
110

92*2

100
116
110*0
111*4
110*2
110
125
113*2
51*2
37*4
103
118*2
118
77*2
37

102*4
119
ill
112
111
110*4
114*2
51*4
38
105
119
78 *2
39
• • - • ••

ib l’
112*2 114
116
103*4 103*4
120
120
117
115 116
117
114
83 ‘b 84 *»
112
ill
114
&7
86
96 *s 90*4
08
67*4
106
107*2
114
110
118
116
115
110
96
97
96
97*2
120
117
112*4 112*2
120

THE CHRONICLE

258
A B S T R A C T FROKI R E P O R T S O F T H E

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N A T IO N A L

BANKS MADE

D eposits.
C ap ita l.

S u rp lu s.

86 $10,5 4 6 ,0 0 0
5 .3 5 5 .0 0 0
56
4 V 6 .4 6 0 .0 0 0
3 3 ,6 0 0 ,0 0 0
3
207 3 9 ,3 3 7 ,5 0 0
3 c 1 2 ,3 0 5 ,2 5 0
83 2 0 ,3 8 2 ,0 7 0
549 127,985,820
4b 9 2 .0 1 0 .0 0 0
4
1 .2 5 0 .0 0 0
5
1 .3 5 2 .0 0 0
3 0 . 3 3 ,0 0 7 ,8 4 0
1 2 ‘ 1 7 .2 4 0 .0 0 0
35 2 1 .4 0 5 .0 0 0
3
19,0 0 0 ,0 0 0
493 4 9 ,0 6 9 ,tOO
1 ,0 4 ; 2 3 4 ,3 3 4 ,4 4 0
21
2 ,1 5 3 ,9 8 5
19 1 2 ,4 0 3 ,2 6 0
64
4 ,4 4 9 ,2 0 0
11
2 .7 7 5 .0 0 0
1
2 5 2 ,0 0 0
60
6 ,5 6 0 ,6 5 0
5*4.5 2 6 .0 0 0
23 k 33,l20,i> 95
3b
3 .3 0 5 .0 0 0
2 .0 5 8 .0 0 0
lb
7 5 0 ,0 0 0
2
41
4 .3 0 6 .0 0 0
20
1.485.000
42
4 .1 2 5 .0 0 0
1 .5 3 0 .0 0 0
17
t
2 ,0 0 0 ,0 0 0
24
1 ,5 8 0 ,3 2 0
2 .5 0 0 .0 0 0
10
3 3 : 23,100,26c
1.1 2 0 .0 0 0
9
4 .6 4 5 .0 0 0
8
8 ,7 1 8 ,4 0 0
68
7 .145.000
59
717 6 s ,367,980
9 .5 0 0 .0 0 0
13
I t 12.4 0 0 .0 0 0
2 .3 0 0 .0 0 0
6
27t 2 8 ,252,415
4 ,1 0 0 ,6 0 0
6
141 13,406,6u5
11 2 4 .7 5 0 .0 0 0
268 2 o ,3 6 1 ,3 u 0
3 .1 0 0 .0 0 0
5
8 .2 8 0 .0 0 0
79
4 ,2 5 0 ,0 0 0
5
7 ,6 2 2 ,5 0 0
95
921 1 3 8 ,3 2 2 ,8 2 c
3 .8 0 0 .0 0 0
5
3 .3 5 0 .0 0 0
t
6 ,5 0 5 ,6 9 0
128
8 0 0 ,0 0 0
4
228 1 4 .7 8 5 .0 0 0
6 1 5 .4 0 0 .0 0 0
2 .6 5 0 .0 0 0
6
550,001
3
4 ,0 2 4 ,9 7 0
63
56
2 ,2 1 5 ,8 3 8
2 ,0 7 7 ,8 5 0
51
4 0 0 ,0 0 0
3
3 .2 5 0 .0 0 0
7
6 .2 6 4 .5 0 0
115
o
1 .1 8 0 .0 0 0
8.055.501
126
808 7 6 ,3 0 9 ,3 4 t
3 .4 0 5 .0 0 0
34
1 .0 5 0 .0 0 0
3
1 ,3 3 2 ,5 0 0
27
6 ,7 0 0 ,0 0 c
6
1 .800.000
6
4 ,212,806
39
8 2 ,0 0 (
1
5 0 ,0 0 0
1
5 2 5 ,OcO
2
119 1 9 ,1 5 7 ,3 0 0
2,480,006
23
9 3 5 .0 0 0
15
2 .5 0 0 .0 0 0
6
2 ,9 9 0 ,'0 0
46
1 ,011,800
15
2,350,250.
68
2 .8 6 6 .0 0 0
70
72 5 .0 0 0
14
1,680,0c 0
12
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4 8 0 .0 0 0
27
18 ,0 1 8 ,5 5 6

In d iv id u a l.

Other.

[V ol . LX X V I

T O T H E C O M P T R O L L E R NO

Gold
L o a n s <& d is ­ Gold a n d
counts. (IncV g gold O. H. T rea su ry
o v erd ra fts.) certificates. certificates.

$54 7 ,8 9 4 $ 2 8 ,7 7 8 ,4 1 2 $1,2 1 5 ,6 6 2
$2,8<.0,472 $ 2 4 ,8 2 8 ,7 0 4
$ 1 0 9 ,2 0 0
1 3 ,5 6 0 ,1 0 2 1,4 8 6 ,9 0 7
429 ,1 3 4
99,640
13,9 8 3 ,7 5 6
1,5 5 1 ,1 8 9
93 1 ,9 5 3
12 ,4 2 7 ,0 0 9
4 2 8 ,4 6 ;
1,516,419
68,670
1 4 ,0 1 0 ,2 2 2
1 3 ,8 7 2 ,7 0 0 1 3 5 ,4 9 6 ,4 2 3 5 ,6 6 0 ,9 7 9 1 6 3,845,805 4 ,941,464 9 ,27 8 ,8 0 0
5 4 7 ,6 0 0
1 4 ,9 4 8 ,6 4 0 1 0 0 ,9 7 6 ,9 8 3 4 ,1 5 0 ,4 6 7 121,431,793 3 ,1 0 4 ,3 9 5
1 9 ,9 1 9 ,8 6 3
434 ,4 5 9
208,096
2 0 9 , 20
28,4 4 1 ,9 3 8
3 ,8 0 5 ,0 3 ;
4 3 ,2 1 1 ,7 5 8 l,6 5 8 ,7 6 t
4 5 4 ,520
8 ,1 7 8 ,5 9 2
5 0 ,587,933 1,820,062
4 6 ,673,045 3 5 9 ,4 2 0 ,8 4 2 14,645,062 4 2 6 ,0 7 9 ,8 5 9 1 £,379,239 10,767,45*
6 5 .1 8 0 .0 0 0 0 4 2 ,3 9 7 ,4 1 3 4 2 ,100,393 6 0 7 ,9 7 7 ,2 1 5 59,121,574 6 9 ,0 ^ 8 ,7 8 0
7 ,2 2 3 .8 4 9
42 J,492
38 4,632
1 3 ,708,074
1 .4 2 0 .0 0 0
3 6 8 ,0 0 0
204,27*
1 3 ,4 *9 ,6 4 1
4 3 7 ,2 9 3
434,350
1 .9 0 0 .0 0 0
12 ,3 4 4 ,3 7 5
157 ,8 4 9 ,5 7 4 3,1 7 6 ,2 5 5 142 ,3 2 9 ,1 0 4 3,7 4 9 ,8 5 5 2 ,152,470
14,211,351
8 7 ,3 5 2 ,6 8 3 1,366,944
1 ,213,642
6 7 9 ,3 7 0
11,544,711
81 ,1 3 4 ,1 0 0
2 1 .6 5 5 .0 0 0 1 2 7 ,9 4 1 ,8 8 0 4 ,9 7 0 ,9 1 7 147 ,9 1 1 ,8 0 6 7 ,6 0 1 ,2 9 6 4 ,0 7 2 ,8 6 0
8 6 ,8 1 4 ,8 1 3 3 ,5 0 3 ,8 6 t
1 0 8,478,002 3 ,4 4 0 ,1 7 0 3 ,9 4 5 ,7 4 0
1 9,780,0u 0
31 ,8 0 5 ,5 3 3 2 3 0 ,9 5 3 ,0 6 2 6,070,151
194 ,3 1 7 ,2 8 8 7 ,3 1 3 ,4 5 4 1,7 93 ,4 0 0
1 6 7,496,595 1 ,2 5 4 ,0 2 2 ,9 1 5 61,813,294 l ,3 c b , 139,958 9 3 ,z 0 l .9 l 6 8 2 ,4 7 1 ,9 7 0
122,943
41 ,9 8 0
7,3 8 2 ,8 7 8
7,0 0 2 ,8 3 5
5 0 ,0 9 0
1 ,1 3 1 ,5 1 9
3 1 ,8 0 2 ,6 7 9 2,740,492
7 1 4 ,1 3 9 1,46 7 ,5 0 0
6,2 4 0 ,5 9 5
4 6 ,3 2 7 ,1 6 2
19,380,218
159,730
7 2 b ,274
402,751
17,623,531
2 ,3 0 1 ,9 0 0
19 ,8 5 0 ,4 1 9
72 ,5 3 3 1 ,1 9 2 ,9 9 0
4 5 8 ,7 8 4
1 3 ,7 8 7 ,1 1 5
1 ,9 0 5 ,0 0 0
59,000
30,975
1,1 8 6 ,0 9 6
1 5 0 ,0 0 0
1,1 5 2 ,7 1 9
174,410
29,320,25J 3,766,35*
600,377
32,837,711
2 ,7 1 4 ,7 0 9
641,014
158 ,4 4 0
2 1 ,8 7 0 ,1 1 5 1 .290,799
1,436,557
1 9 ,098,815
1 5 ,8 8 0 ,2 8 0 1 3 0 ,7 9 2 ,6 5 6 9,034,797
1 3 7,829,86b 2 ,5 8 4 ,7 3 2 3 ,2 5 4 ,0 5 0
78 ,3 6 0
887,914
9 ,8 2 2 ,0 9 6
3 0 8 ,5 4 6
1 2 ,098,609
1,099,681
3 2 ,3 3 0
101 ,7 1 4
6 ,6 5 5 ,6 2 5
8 ,1 1 1 ,1 6 0
485,081
69 0 ,6 2 9
7 5 ,0 0 0
14 ,0 0 0
1,995,184
1 32,454
8 1 7 ,0 0 6
2 2 5 .0 0 0
93,630
3 3 6 ,0 3 6
16 ,3 4 7 ,3 3 8 1,379,298
18 ,5 8 9 ,0 1 0
1 ,6 0 2 ,8 2 2
81,050
140,407
8 ,0 8 9 ,7 7 6
6 ,6 0 6 ,9 6 0
4 6 4 ,8c7
8 2 6 ,6 0 0
336 ,9 5 0
3 2 2 ,1 3 9
53 8 ,6 5 0
1 8 ,7 3 7 ,8 2 0
14,133,307
1 ,0 1 5 ,7 0 5
30,190
88,272
3 0 0 .0 0 0
6 ,0 6 2 ,3 1 6
5 4 9 .0 0 0
6,0 8 3 ,3 0 5
798 ,9 0 0
5 09,554
4 4 7 ,6 4 4
1 7 ,090,214
15,571,731
2 ,8 0 0 ,0 0 0
63,900
8,0 0 6 ,1 7 9
79,158
10,152,013
2 5 3 .0 0 0
5 81,334
513 ,9 9 0
1 3 ,2 5 6 ,7 0 5
635 ,8 5 5
7 2 4 ,1 4 4
1 ,9 1 1 ,0 0 0
14 ,4 7 9 ,6 0 6
7 6 0 ,3 2 0
6 5 .006.669 1,017,323
6 ,1 6 4 ,6 3 3
76 ,9 6 9 ,0 9 7 1,9 1 2 ,4 8 9
O9 ,9 4 0
4,6 9 3 ,2 9 2
70,642
3 7 1 ,5 0 0
4 ,6 9 7 ,8 7 ,
101,605
2 7 0 ,0 0 0
619 ,9 5 9
1 0 .4 1 7 .6 6 9 3,2 1 8 ,0 3 8
15,856,351
1 ,7 8 5 ,5 0 0
177,690
2 1 ,7 9 4 ,8 7 3 2 ,159,183
7 1 0 ,9 0 2
24 ,6 7 6 ,6 2 3
2 ,2 2 9 ,6 5 9
4 7 0 ,4 1 0
2 9 ,0 8 6 ,5 6 c
2 8 ,2 6 1 ,1 0 6 l,374,09fc
1,848,537
6 0 0 ,3 7 9
2 3 ,7 0 1 ,6 0 0 2 3 1 ,5 4 0 ,2 0 1 1 3 ,5 4 5 ,1 5 0 260 ,5 7 7 ,8 7 9 6 ,3 8 8 ,1 4 6 3 ,0 2 2 ,6 6 0
3 7 ,3 0 7 ,8 4 3
2 8 ,9 5 0 ,7 9 8 3 ,7 8 8 ,8 2 0
3 .7 0 0 .0 0 0
312,561 1 .8 3 3 .0 0 0
680,000
2 5 ,6 4 0 ,7 4 7 1,810,077
4 6 ,6 6 9 ,6 9 6 2,3 7 4 ,8 7 3
3 .7 0 6 .0 0 0
5 2 1 ,2 5 0
1 2 ,9 0 4 ,9 5 2
381 ,7 3 8
11,198,746
7 5 5 .0 0 0
575,8641
655 ,2 9 0
1 1 3 ,6 4 0 ,8 *8 3 ,303,767
9,219,671
1 1 0 ,8 9 5 ,7 3 8 3 ,654,855
1 6 ,5 0 6 ,0 0 8 3,3 8 8 ,3 1 9
9 0 3 ,0 7 0 1 .46 0 .0 0 0
16,377,181
1 .3 7 0 .0 0 0
4 9 0 ,1 4 0
6 2 ,6 1 6 ,3 9 2 2 ,3 2 1 ,3 8 0
5 0 ,1 9 7 ,3 0 8 2 ,4 6 2 ,9 4 9
3 ,8 7 8 ,9 3 9
1 1 ,6 0 0 ,0 0 0 1 2 3 ,4 2 5 ,3 9 0 1 ,5 2 7 ,8 8 0 1 7 1 ,9 1 6 ,5 3 2 11,412,680 18,073,990
7 ,8 4 3 ,6 7 3 1 0 4 ,9 3 6 ,5 6 2 3 ,7 6 1 ,3 9 6
9 7 ,1 9 2 ,tilt 2,9 2 6 ,9 8 8 1 ,29 4 ,4 2 0
141,990
16 ,6 1 2 ,4 7 2 1,008,627
13 ,0 5 5 ,4 4 4
8 1 3 .0 0 0
9 1 2 ,1 7 0
2 1 8 ,5 9 0
4 4 ,4 3 1 ,5 6 2 1 ,856,629
5 0 ,2 6 1 ,2 8 7 1 ,2 3 7 ,9 4 5
2,6 0 3 ,5 3 8
2 7 ,1 1 0 ,6 3 6 1,247,193
550 ,0 0 0
1 .2 8 5 .0 0 0
2 5 ,401,926 1 ,6 2 5 ,2 4 5
406,240
49,088,2tt6 1,0 5 2 ,5 9 5
4 0 ,3 2 1 ,1 1 8 1 ,6 1 0 ,3 1 9
2 ,0 5 9 ,3 0 6
6 3 3 ,1 3 7 ,3 4 0 2 4 ,9 2 7 ,4 0 6 668,523,037 30 ,5 3 0 ,5 3 4 2 6 ,3 24,910
48,834,127
15 ,7 7 7 ,9 1 0 1,441,554
489 .2 0 0
15 ,5 3 5 ,6 1 8 l,4 8 3 ,7 c 8
8 8 0 ,0 0 0
466 .2 0 0
1 4 ,4 0 5 ,0 6 0
19 ,9 5 8 ,3 5 6
711,447
8 05.000
4 5 2 ,1 6 0
3 6 ,7 3 9 ,5 7 3
3 3 ,6 5 9 ,6 2 0 1,4 2 2 ,9 4 0
2 7 2 ,3 7 0
1 ,3 2 0 ,1 4 5
5 5 0 .0 0 0
2 ,9 7 5 ,4 6 9
1 6 6 ,0 2 0
5 ,039,794
2 6 0 .0 0 0
140,417
295,051
6 1 ,2 3 6 ,4 4 7 2,770,911
6 7 ,837,104 1,884,797
3 ,4 6 7 ,3 5 6
583 ,2 4 0
48,2 2 8 ,1 5 4 3,07 5,385
82 ,5 1 3 ,3 6 0 2 ,7 5 7 ,4 5 8 10,180,950
10 ,2 5 0 .0 0 0
26,5 1 1 ,7 7 1 1 ,735,615
33,764,34k 1,4 5 4 ,7 2 6 1,428,920
863 .0 0 0
4 ,8 5 9 ,4 7 8
1 2 0 .0 0 0
6 ,111,597
352 ,4 7 0
44,760
185,625
1 6 ,089,193
1 4 .1 3 8 ,3 9 :
82,110
884,907
4 4 8 ,9 0 6
2 5 0 .0 0 0
12 ,1 1 8 ,9 2 3
10 ,8 6 6 ,1 4 3
121,510
2 c 2 ,1 3 2
364,391
15 0 .0 0 0
1 1 ,229,215
9 ,369,393
9 1 .0 0 0
2 5 4 ,5 5 0
3 51,026
270,905
2,3 4 2 ,0 8 8
2 ,743,030
1,000
1 3 9 .0 0 0
88,425
1 09.962
15,736,520
1 2 ,9 7 3 ,5 0 3 1,003,821
5 4 5 .0 0 0
885,292
125 ,4 6 0
2 4,492,624
2 5 ,5 5 4 ,1 5 .
86 ,3 5 0
1 ,4 1 8 ,3 1 3
3 t0 ,o 0 0
7 3 2 ,5 3 5
2 ,4 7 4 ,0 1 6
4 ,4v 9,035
2 6 0 .0 0 0
45,190
10.000
5 0 ,0 0 0
3 4 ,0 8 2 ,9 9 2 l , 2 0 ', 6 7 t
30,9 4 6 ,2 4 8 1,3 1 0 ,3 5 0
2 0 1 ,2 0
1,4 1 5 ,9 5 9
3 2 6 ,5 3 7 ,0 it 13,922,788 378,183,307 U , 197,704 14,350,351
2 3 ,247,046
21,7 0 5 ,7 7 4 2 ,5 5 7 ,6 6 2
9 4 2 ,9 7 0
3 2 ,2 0 8 ,9 9 0 1,7 7 5 ,1 5 6
175,600
7 ,9 2 2 ,2 z 4
5 ,1 7 1 ,7 4 2 1,5 5 7 ,7 3 0
1 7 0 .0 0 0
999,299
9 ,5 8 0 ,7 8 6
3 6 ,0 8 0
3 3 0 ,1 0 0
5,979,368
7 3 9 ,0 9 9
15 0 ,0 0 0
2 2 ,9 0 3 ,2 4 0 1,433,745
3,1 5 0 .00 0
23,760,757 3 ,8 4 7 ,9 5 3 1,12 6 ,7 7 0
2 9 5 .0 0 0
9,8 3 4 ,0 4 6 1 ,2 6 4 ,0 7 0
1 1 ,8 7 8 ,4 1 6
1 5 9 ,4 t0
3 :9 ,8 8 3
59,720
1 ,0 8 7 ,0 5 0
1 7 ,2 5 9 ,8 7 9 2 ,0 2 6 ,9 0 0
2 3 ,3 9 4 ,0 j 0
4 6 4 ,9 6 7
10,000
510 ,8 0 0
6 2 8 ,0 4 4
15,095
173,042
2,000
1,500
57,973
3 4 ,5 2 0
74,882
8 7 4 ,8 4 t
625,154
250
50,000
158,625
231,90c
6,036,6ZO 1 0 9 ,3 1 3 ,9 2 6 5 ,5 2 9 ,8 ;8
8 5 ,1 5 5 ,1 8 5 12,201,714 1,559,880
1 4 5 ,5 0 c
850 ,4 6 6
13,242,90c
16,294,09;*
520 ,4 7 2
399,138
10,840
278,610
4,3 0 7 ,9 1 9
5,5 6 0 ,2 1 3
97,536
172,600
349,500
1 7,415,668 2,176,745
2 8 ,9 :9 ,0 7 ) 1,031,237
6 7 5 .0 0 0
2 2 3 ,870
15 ,6 1 3 ,2 8 6 1 ,4 1 6 ,6 5 0
549,154
858,902
27,5 0 9 ,2 1 7
19 ,0 4 0
143,361
4,099,** 88
251,827
170 ,7 0 0
5 ,0 1 5 ,5 4 4
7 3 ,9 6 0
243,719
2 2 2 ,5 3 5
240,403
8 ,3 5 2 ,4 8 8
9 ,9 0 6 ,3 9 8
156 ,7 9 0
8 ,4 5 1 ,5 3 0
3 ,Out/
8 2 ,3 7 0
495,221
6 ,8 1 9 ,8 9 8
273,694
19,340
3 ,3 0 5 ,6 2 9
155 ,1 5 2
5,9 4 0 ,0 5 1
2 3 7 .0 0 0
8,560
430,400
845,037
5,447,41ft
8 ,1 0 3 ,8 7 ;
6 9 0 ,5 0 0
14,820
2 1 8 ,0 4 0
1,8 8 5 ,1 9 8
3 ,0 2 5 ,0 3 ?
93 ,1 4 5
8 2,121,^ 22 6 .6 0 3 ,1 1 2
9 4 7 ,8 0 0
3 ,8 «3 ,8 4 3
117 ,1 1 3 ,0 0 1 3,400,07V

<

Silver.
$ 1 3 6,149
105,715
104,824
242,685
657,657
80,28**
245,522
1,57 2 ,8 3 6
8 2 4 ,0 6 3
48,0ftS
89,671
794,468
411,184
7 5 7 ,0 0 .
360,419
l,2 » 8 ,9 c 5
4 ,5 7 3 ,7 7 c
71,471
158 ,8 9 0
104,196
77,436
6,634
245,112
128,170
791 ,9 1 5
147,168
133,19ft
4 1 ,0 0 0
290,115
140,975
'2 3 2 ,1 9 0
137,038
92,174
167,027
197,307
1,365,794
63,835
88,039
160,013
290,361
3,552,291
105,907
213,933
70 ,8 4 0
6 7 7 ,0 9 7
95,782
4 0 6 ,4 6 6
359,669
650,597
61,697
296,223
90,668
257,791
3 ,2 8 6 ,6 7 0
110,036
70,394
2 1 1 ,6 9 6
50,302
418 ,3 3 4
7 4 ,7 9 ;
222 ,7 7 5
74,459
133,098
72 ,1 6 4
76,854
22,323
191,183
161,06b
8,936
271,802
2,170,277
1 8 3 ,9 :4
49,594
102,19*
146,402
108,389
193,960
3,725
2.637
1 J ,3 8
802,237
107,506
35,00b
146,88ft
175,498
66,414
139,527
133,419
3 4, i t l
53,587
43,019
935,124

V.

2 5 , 1902*

S ilver Leg.tencL’ i $
T rea su ry < U. S. cf'l$
&
certificates dtposx>.
$190,698
193,387
103,817
8,208,480
1,173 037
230,603
6 3 1 ,1 ,7
5,731,199
l5 6 3 o 5 3 1
60,000
505,767
1,490,781
1,419,359
4 ,2 0 7 ,*9 2
2 ,245,0*0
2,435,963
2 80009;3
198,795
1,482,116
251 ,3 4 6
705,143
38,150
296,048
2 0 c,8 3 5
3,172,43d
83,591
1 1 8 ,472
61,900
2 0 4 ,9o5
40,209
2 1 4 ,200
17,536
556,581
1 4 0 ,282
243,322
667,491
75 ,3 8 4
27,24k
111,359
344,037
2,906,591
4 1 7 ,002
175,100
281,981
5 * 5 ,4 :8
116,582
4 5 6 v26o
3,24 8 ,4 7 5
625,358
27,413
2 6 0 ,1 5 8
90,231
245,241
6,489,305
116,125
35 ,0 0 0
2 2 0 ,415
72,947
422,693
1,875,103
5 6 2 ,6 7 0
218,292
90,4oO
92,5 6 0
70,431
732
4 4 0 ,3 6 6
103,05b
8.2 d5
221,931
4 ,551,02o
181,751
11,222
36,739
35 ,8 4 6
71,195
41,20a
329
115
378,401
12,288
16,484
2 6 9 ,1 6 ;
165,567
21 ,3 6 0
68,963
111,006
43,225
11,223
1.205
7 2 0 ,4 »4

5413,715!
3 3 3 ,2 5 9
2 9 6 ,7 4 8
5 ,4 5 2 ,2 0 9
2 ,8 1 6 ,6 7 0
5 3 4 ,3 4 4
,150 0 8 3
10,997,028
46 ,1 0 3 ,0 6 9
8 0 4 ,762
6 9 1 ,0 4 8
3 ,5 9 2 ,5 9 7
2,49 3 ,7 0 8
3 ,1 4 2 ,7 5 8
3 .7 7 5 .1 9 5
5 .6 6 4 .1 9 5
66 ,2 6 7 ,3 9 2
1 7 3 ,702
9 3 4 ,1 5 9
4 5 2 ,4 5 8
4 4 8 ,5 4 0
15,350
1 ,0 1 8 ,5 9 8
6 5 7 ,0 7 4
3 ,6 9 9 ,8 8 1
5 3 3 ,4 0 4
3 7 1 ,1 2 3
87 ,7 9 6
7 2 1 ,0 9 0
3 1 3 ,3 9 8
7 2 0 ,9 3 9
3 8 0 ,635
4 9 7 ,1 1 0
1 3 7 ,445
1 ,0 9 4 ,8 3 0
3 ,1 3 1 ,9 8 7
1 8 8 ,0 6 4
9 5 3 ,2 3 6
5 5 0 ,3 1 2
1 ,0 3 4 ,1 3 7
10,726,518
3 ,0 5 3 ,7 8 5
1 ,7 0 6 ,3 8 7
9 3 9 ,2 4 3
3 ,7 8 7 ,0 2 5
1 ,1 6 6 ,2 1 5
1,809,738*
13,692,207
2 ,4 2 2 ,8 3 0
9 0 3 ,0 0 2
1 ,1 6 6 ,7 8 2
1 ,3 15,59ft
9 8 3 ,5 6 7
3 2 ,9 4 6 ,3 7 7
4 2 6 ,9 9 8
5 9 5 ,5 8 0
5 9 0 ,3 6 8
2 3 3 ,4 1 6
1 ,6 2 1 ,1 1 2
3 ,8 2 9 ,5 3 0
6 7 2 ,5 3 0
2 6 1 ,6 5 5
4 2 9 ,9 8 3
4 4 9 ,8 7 9
3 8 2 ,1 6 2
2 0 3 ,8 9 2
1 ,2 2 5 ,3 4 2
6 4 8 ,8 6 9
4 7 5 ,8 3 5
9 2 6 ,5 3 7
1 2 ,973,487
2 5 2 ,018
2 6 ,7 8 4
9 3 ,0 9 7
4 3 ,2 8 2
1 0 3 ,387
117,734
2,770
1,020
180
6 4 0 ,2 7 2
4 5 9 ,6 1 9
9 0 ,1 1 0
1,813,987
6 5 7 ,0 8 3
171,621
3 7 3 ,1 0 5
250,731
84 ,9 9 3
55 ,1 3 0
102,775
4 ,0 5 9 ,1 5 4

’•

1

Total
United
States •

|

Totals....... 2 8 0 1 2 5 2 4 9 2 8 9 1 7 8 81 2 8 2v 2 9 2 6 35 7 5 74 21*0 3 8 7 3 1 0 28*8 4 3 6 3 ‘f 8 t 144 79*: 7*4 3 3 7 6 7 1 14 5 48*b 3 .3 0 8 2 ,7 9 6 6 ,1 0 4
t

( Capital-......
34
g 8ur. & uodlv. 21
IS Circulation..
7
S Due to dep’rs 141
■o Due to banks 71
£ Other 2iabT .
s
0
I

Total
Other
Cities.

Total
Reserve
Cities.

[ T o ta lD iv .N o .8
T o ta l fo r U. S . .. 4 ,b o6 7 1 4 ,6 1 6 ,3 5 3 3 3 5 ,7 6 3 ,7 3 0 3 ,1 5 2 ,8 7 8 ,7 9 7 146818414 3 ,3 4 6 ,6 7 0 ,6 3 6 178147097 1 4 3 4 9 9 0 7 c 17,685,120 51950 3 7 4 1 4 2 310109
9
3
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£
V
2
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£
o
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.
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•
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£
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p
p
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o
o £
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R eserve
||
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c
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9
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• e £ £ $4
s * 13
&
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0
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CQ* Q 0
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O
In M illions.
0
5
O
C C & c
h
Q
*5
3
S
C
l
6
o
6
i
3
f IjOAn8.......... 169 6 0 8 26 1 4 8 1 0 8 :i 6 14 2*(" 17 14 16 37 47 li*^ 16-4 1 7 2 16*0 2 5 3 5 6 5*0 8 3 39*9 4 4 18*6 33*e 5*2 17*4 1 ,7 3 7 1 ,6 1 0 3 .3 4 7
462
54 1 1 ,0 0 3
^ B’ds.st’ks.&c 2 4 181
7 4 1 2 6 13 3 *4 4 2 11 19 10 3-8 7-0 2 0 4*4 5 7*9 1 u 2 1 10 7 1*2 4 1 11*7 5*2 l i t
801
385
€ Duefr.banks 4 7
5 9 10 57 1 8 11 6 1 4 5 6 11 1 0 3*0 9*0 5 8 4*b 9 12*1 I t 1 s 21V *9 5*8 1 2 4 1*9 13*4 4 1 6
1
391
97
18 1 5 5 2
2 2 1 3 3 1*3 2*0 3 3 1 2 2 3'ft *4 15 4'4 * l b 0 b I t 2*2 2 9 4
u Specie.........
17 1 0 4 2
;
142
*9 1 TO * 4
k
1 -t
46
*1
96
® Leg.t’d’rs.Ac
1
•
1
*9 • 1*4
46
*9 1 2
5
3
3 1
14
1 1 3 2
*t 2 3 0
237
1
* 1 1*2
7
*J
7
*5 1 2*o • 2 2*0 *2
® Cl’r’g H.excb 13 1 6 8 2
4 2 ... ... 1 ... ... ... 1
•
b 10
17
*2
*5 1 1
183
110
Oth.res’ces..
1
6
9 4 3 •. 1 2 . . . 2 1
•
9
* . . . . 1*6 .4 l
4
73
4
29
*8 *1 1 4 1*3
3

Totals .

9 2 3 21
105 4 26
1 10
46
5 8 5 21 1 3 3
4 01 2 0
98
23
1

1 9 12 3
26 8 2
4 1
7
9 0 3 > 20
3 3 20 2
3 2 ....

715
e
2 3 5 9 12 2*3 4*1 25 3*1 4 7 1 • 15 3*2 1*2 3*7 8*6 1*1 2 5 2 9 8 4 1 7
517
4
252
3 3 2 0 5 1*1 1*8 17 1*1 2 2 9 • 15
1 1 5*3 1*0 1*7 2 6 5
337
4
*6 1*7 1 2 6 21 1
• 1 1 5 5 5
2
•
9
•
e
3 1 2 1 1 ? * 12 2 1 *8 1*4 5*b
*9 16 14 14 3 3 2 7 13 ft 19 9 1 3 0 14-* 2 8 3 2 1 3 3 51 3 3 3 2*5 10 4 36*0 8*9 30 1 ,5 5 0 1,7 5 0 3 ,3 0 0
b
1 3 0 1 ,1 5 5
4 5 9 19 20 3*5 11-9 1 3 3 9*3 8 19 4 3*7 4 9 37*8 2*2 1 1 1 I 0 * b 2*9 12 9 1 ,0 1 9
• 3 .... . . . . 3 5
J
*1 . . . . . . .
•a . . . .
30
SO
•
1
• ...
1
56
2
2
3 ...
*8
•
*

2 8 0 1 2 5 2 4 9 2 8 9 1 7 8 81 I S 2 2 9 26 3 5 7 5 74 21-* 38*7 3 1 0 28*8 4 3 0 3 0 S v l l \ 79*7 7*4 33*7 67*1 14*6 48*8 3 ,3 0 8 2 ,7 9 6 6 .1 0 4
*1*

THE CHRONICLE

J a n u a r y 31, 1903.]

am i R a ilr o a d
R A I L R O A D

259

$ u U X \x % z n tz .

E A R N I N G S .

The following table shows the gross earnings of every S team railroad from which regular weekly or m onthly returns
can be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from J u l y ft to and including such latest week or m onth.
The returns of the street railw ays are brought together separately on a subsequent page .
Latest Cross Earnings

ROADS

Wee/c
or Month

A d iro n d a ck ......... June
A la G t S ou th ern. 3d w k Jan.
A la N O & i ex as
N O & N o E ast. 1st wk Jan
A la A V ick sb’g 1st w k Jan
V ick sb 8h A P. 1st w k Jan
A lleg h en y V alley N ovem ber.
A nn A r b o r ........... 3d wk Jan.
A nn W ash A Bal. N ovem ber
A tch T op & S Fe. D ecem b e r.
A tla n ta A C har.. O c t o b e r ...
A tl K n o x v A N o. D ecem b er
A tla n tic A Blrm . D ecem ber.
A tl C oast L in e ... Novem ber.
A tl Vald A W est. J u n e .......
B a lt A A nn S L .. N ovem ber.
B alt A O h io___ >
B & O S ou tiiw . < D ecem ber
B a n gor A A roosl N ovem ber.
B ath A H am m on N ovem ber.
B ell. Zanes A C in . O c t o b e r ...
B e llefon te C ent’ J D ecem b er
B rid g t A Saco K. N ovem ber.
Bull A ttic a A A rt S ep iem b e r
Bull K och A ir'itts 3d w k Jan .
B ullalo A S u s q ... D ecem b e r
B url C lia p & No M a y ..........
C anadian Pacific 3d wk JaD.
C ane B e lt ........... Novem ber
CentT o f G eorgia 3d wk Jan.
C ent’ l o f N Jersey D ecem b er.
C entral P a cific.. N ovem ber.
C hattan S outh’ n . 3d w k Jan.
C hesap A O h io ... 3d w k Jan.
C hic A A lton B y . D ecem b e r.
C hic B u rl A Quin A u g u s t ...
C hic A E Illin ois. 4th w k D ec
Chic G t W estern. Q 4*1 w k Jan.
3d 1r T •,
Chic In d A L ’ v . . . 3d w k Jan.
Chic MUw A St I D ecem ber.
Chic A N orth W’ n D ecem ber.
Chic P eo & S t L . . A u g u s t___
Chic K I & P a o ... D ecem ber.
Chic St P M A O . D ecem ber.
C hic T erm T r KK 3d w k Jan.
Oin N O & T P a c. 3d wk Jan.
Cl Cin Cli & St L. 3d w k Jan.
P eoria A Eaat’ n 3d w k Jan.
C olorado A South 3d wk Jan.
Col N ew b A Eau. N ovem ber.
Col Sand A H ock 3d wk O ct.
C opp er R a n g e .... N ovem ber.
C o rn w a ll............. O c t o b e r ...
C ornw all A L e b .. N ovem ber.
C um berl’ d V alley N ovem ber.
D eny. A R io Gr. /
K io Gr. W est. ] 3d w k Jan.
D etroit Southern. 3d w k Jan.
D et A M a ck in a c. D ecem ber.
Dnl So Sh A A t l.. 3d w k Jan.
E r ie ........................ D ecem ber.
E van sv A Indian 3d w k Jan.
E va n sv A T H . . . 3d w k J a n
F 'rcliild A N ’ r ’e ’ n D ecem ber.
Farm v A P ow h at N ovem ber.
F t W & D en y City N ovem ber.
G eorgia R R ......... N ovem b er.
Ga South A F la .. D ecem ber.
G lia V a l G A N. . N ovem ber.
Gr Trunk System 3d w k Jan.
G r T r . W est'll. 1st w k Jan
D e t Gr H A M . . 1st w k Jan
G reat N orth'll —
St P M inn A M )
East, o f M inn ] D ecem b e r.
M on tan a C ent'! D ecem b er.
T ota l system . D ecem ber.
G u lfA S h ip Islan d N ovem ber.
H ock ing V a lley .. 3d wk Jan.
H ous A T ex Cent N ovem ber.
Illin ois C en tra l.. D ecem ber
Illin ois Southern D ecem ber.
Ind 111. & Iow a D ecem ber.
In t A G t N orth ’ n 3d w k Jan.
In teroc (M e x )___ Wk Jan. 10
Io w a C en tral___ 3x1 wk J an.
Iron R a ilw a y ___ D ecem ber
K anaw ha A Mich 3d w k Jan.
Kan C ity South’ n 3d wk Jan.
Lehigh V al R R . . D ecem b er.
Leh Val Coal C o.
L exin g A E ast’ n. N ovem ber.
L on^ Island . . . . N ovem ber.
La. A A rkansas. September
Lou. H end.ASt.L. N ovem ber.
L ouisv A N ashv. 3d wk Jan.
M acon A B ir m .. D ecem ber.
M an’tee A G r.R d s N ovem ber
Mania A No East N ovem ber.
M a n istiqu o........ Decernher
M aryl’ d A Penn. D ecem ber
JMexioan Central 3d wk J an.
M exican Iu tern ’ l. D ecem ber.

Pacific,

December.

Current
Year

$
15,324
46 ,7 0 3
4 1 .0 0 0
19.000
20.000
In c.

32 .0 4 7
0,340
5,5 3 9 ,8 0 0
282,404
54.048
21,005
£1519,155
21,384
9,508
4,9 2 9 ,0 3 5
145,595
3,9 0 0
17,287
4,039
4,340
129,755
80 ,7 5 0
3 9 9 ,7 0 0
600 ,0 0 0
22,530
184,110
1,029,724
1,935,917
2,393
341.000
848.778
5 ,171,300
203,043
140,048
84,183
3,9 0 3 ,8 0 3
3,787,991
133,929
*3 9 7 6 7 9 0
9 7 2 ,7 4 0
32,211
101,229
349,193
53,457
130,808
10,319
32,418
20 ,0 8 4
7,0 0 0
17,527
110,308
300 ,6 0 0
28 ,7 2 0
7 8 ,2 3 0
38,011
3 ,807,873
0,240
28,563
2,811
5,211
223,593
200,183
145,087
23,308
610,297
95 ,8 6 5
20,391

Previous
Year
$

12,887
47,106

Current
Year

$
202 ,2 1 6
1 ,478,353

Previous
Year

22,7 75 ,1 9 9 19,702,375
1,027,125

ROADS

Week
or M onth

$

190,628
1,393,408

31.000 1,150,093 1 ,030,915
585,597
547 ,2 9 5
17,0(>0
648 ,0 9 9
19 .0 0 0
5 3 5 ,7 0 9
In c. 190,942
40,878
34,048 1 ,064,205 1,005,315
37,909
38 ,2 0 4
0,793
5 ,328,052 31,695,051 30.8 7 0 .2 5 0
273,771 1 ,079,978
995,528
349 ,2 3 0
45,508
308,098
00,031
11,873
110,783
H 407921 £7,388,334 £6,316,987
19,325
209,977
235 ,0 4 5
49,559
9,171
40 ,8 0 6
4 ,5 9 0 ,0 2 4 3 1,647,157 29,4 9 9 ,7 0 6
740 ,3 1 3
693,089
140,311
5,043
17.338
19,570
15,952
09,043
62 ,9 9 5
29,913
4,808
29,508
22 .3 3 8
20,303
3,089
0,941
0 ,8 1 0
108,051 4.0 8 2 .0 0 3 3 ,6 8 4 ,8 0 4
505 ,3 8 4
09 ,0 3 0
433,085
399 ,7 7 2 4 .9 5 9 .0 0 4 4,5 5 9 ,0 0 3
000,000 24,7 17 ,9 0 3 21,727,549
102,500
24,389
71 ,5 1 8
178 ,7 5 0 5,2 0 8 ,0 1 4 4,5 0 9 ,4 4 9
1.209.773 7 ,0 7 4 ,8 2 4 8,6 8 9 ,8 8 1
1,706,395 9 ,7 9 1 ,0 2 4 9,4 0 0 ,0 3 5
00 ,9 3 4
52,908
1,749
308 ,0 8 0 8 ,5 0 5 ,8 3 0 9 ,3 5 9 ,1 2 2
701,092 5,1 8 0 ,8 5 3 4 ,9 0 3 ,4 2 4
4,9 7 9 ,0 7 2 9,7 9 1 ,0 8 7 9 ,4 0 0 ,4 0 2
109,894 3 ,7 1 9 .8 0 4 3 ,1 3 1 ,7 4 2
131,038 4 ,3 2 7 ,0 2 0 4,4 2 0 ,2 0 3
78 ,9 2 2 2,7 0 5 ,1 0 4 2,5 8 0 ,0 4 3
3 ,9 9 1 ,2 5 4 25,1 77 ,9 0 0 24.3 8 0 .2 5 0
3.6 1 8 .7 7 3 2 5 ,5 11 ,0 2 8 24,071,001
206.242
232 ,7 0 7
123,975
*2 4 2 9 8 8 8 7
9 8 0 ,2 5 9 0,5 0 2 ,3 2 1 6 ,3 7 1 ,9 0 4
9 7 4 ,1 4 4
897,849
30,175
99,209 3 ,2 0 7 ,4 2 4 3,042,450
317,088 11,200,091 10,950,009
45,042 1 ,508,442 1 ,458,553
128,239 3 ,4 9 0 ,2 9 4 3 ,1 4 3 ,0 4 2
7 2 ,0 2 3
77 ,0 9 4
14,928
408 ,5 3 8
509,531
25,913
150 ,0 0 5
18,077
73 ,4 0 9
33,631
11,282
43 .1 9 0
102,809
110,040
28,700
5 5 4 ,7 7 4
95 ,8 2 4
5 1 8 ,9 0 7
3 1 2 ,4 0 0 1 0,116,095 10,053,207
25,202
7 1 7 ,7 8 3
7 7 7 ,6 7 9
01,942
3 9 3 ,2 5 3
4 2 5 ,7 0 0
45,501 1,5 4 9 ,3 0 8 1,5 0 5 ,4 5 5
3 ,105,172 22,0 87 ,3 4 8 2 1 ,3 2 2 ,5 4 5
0,782
229,812
195,507
20,012
842 ,6 5 7
9 0 3 ,0 9 5
20,312
2,909
17,199
30 ,0 2 5
33,071
0,025
221,213 1 ,140,117
9 3 5 ,1 7 3
8 3 0 ,8 0 2
187,665
981 ,2 7 7
7 0 9 ,9 1 4
0 3 3 ,2 3 2
109,957
121,519
30,081
152,887
525 ,3 0 0 18,459,075 16,793,494
90 ,1 1 3 2,4 9 7 ,2 0 7 2 ,254.001
6 5 8 ,3 2 3
038,781
24,508

3,207,036 3 ,121,505
189.352
110,708
3 ,390.368 3,2 3 2 .2 7 3
149,552
110,723
108,093
105,651
488.1
21 499 ,4 0 5
3,770,718 3 ,4 1 3 ,1 2 0
12,580
11,277
1 6 1 ,4 2 0 138,220
104,021
102,930
98 ,2 0 0
7 7 ,3 5 0
53,371
53,222
8,33
0,621
24,550
22,039
131,513 129,830
2 ,473,000 1,839,410

Latest C ross E arn ings

J u ly 1 to Latest D ate.

857,540

2 3,802,324 20,5 5 9 .9 1 5
553 ,1 2 3
7 0 0 ,0 7 7
3 ,2 9 2 ,4 0 8 3 ,0 0 0 ,0 0 0
2 ,4 1 0 ,5 1 8 2 ,420,772
22,040,001 2 0 ,0 3 5 .0 3 0
7 0 ,6 9 0
80,279
8 1 8 ,7 0 4
851 .5 7 2
3 ,202,859 3,072,162
2 ,0 0 3 .3 3 0 2,0 7 1 ,3 9 0
1 ,395,100 1 ,435,483
3 9 ,0 0 0
41,081
601 ,3 4 0
570,543
3,5 4 4 ,8 0 7 3,1 1 0 ,0 8 8
11,224,889 13,884,217

108,474
40,439
29 ,3 7 4
232,798
In c. 32 ,094
Inc. 193 ,701
121,702
108,457
43 .9 0 3
38 ,7 4 4
05 ,0 8 4
343 ,5 1 0
57,450
303,526
690.095 632,035 19,410,550 17,010,357
04.401
80.215
12 ,2 6 0
12,073
55,318
9,610
53 ,5 5 3
9 ,* 9 5
133,711
21,909
130,574
21,900
6 ,6 o5
53,152
34 ,0 2 9
4,951
20,075
19.431
425,352 330,547 12,074,721 9,00*2,004
669,947
547,038 3 ,432,447 3,0 3 0 ,0 8 0

t M exica n R y ........ W k .Jan 10
k
M exican S ou th ’ i. 1st wT Jan
M illen A S o ’ w ’ n. D ecem ber.
3d w k Jan.
M ineral R a n g e ..
M inneap A St L. 3d wk Jan.
M Ht P A 8 St M. 3d w k Jan.
Mo Kan A T exas 3 d w k J a n
Mo P a c A Iron M i 3d w k J a n
C entral B ranch 3 d w k Jan
T o ta l................ 3 d w k Jan .
M ob J a ck A K C. W k J a n . 17
M obile A O h lo ..c D ecem ber
Nash (hi A St La. 3d wk Jan.
N at’ l R R o f M ex 3d w k Jan.
N ev-C a l-O regon D ecem b er.
N evada C e n tr a l.. N ov em b er.
N Y C & H u d Riv D ecem b er
N Y O ut A W est. D ecem ber.
N Y Susq A West D ecem ber.
N orfolk A W est’ L 3d w k J an.
N orthern Centra) N ovem ber.
N orth’ n P a c ific .. D ecem ber
Nor S h ore iCal)... D ecem b er.
P acific C oa st Co. S ep tem ber
P en n —E astP A E e N ovem b er
W est P A E § ... N ovem ber.
Pere M a rq u e tte .. 3 d w k JaD.
P hila.Balt. A Wa. N ovem ber.
PhD a A E r ie ........ N ovem ber.
Pine B lf.A r k .R ... N ovem ber.
Pittsb C C A St L D ecem ber.
Plant S y s t e m A la M id la n d .
B run s A VV’ n. J u n e .........
Chas A S a v . ..
Sav F la A W .
S i l S Oc A G . .
R eadin g C o .—
Phil A R e a d ___ D ecem ber,
C oal A I r C o ___ D ecem b er.
T o t b o th C o’ s .. D ecem b er.
R ich F r ’ ksb A P . N ovem b er.
Rio G ran d e J e t .. N ovem ber.
R io G ran d e S o ... 3d w k Jan.
R io G r’ d e W e s t.. Ju n e ..
R u tla n d ................ 1st w k D ec
St J os A G r I ........ N ovem ber.
St L ou is A G u lf.. A u g u s t___
St L A N A r k ........ O c t o b e r ...
St L A San F ran g 3 d w k Jan.
St L S o u th w e s t.. 3 d w k Jan.
S t L Van A T H . . D e ce m b e r
San A n t A A P . . . N ovem ber.
San F ran A N P .. D e ce m b e r.
Sav F la A W e st.. J u no ..
S eaboard A ir L .. 3 d w k Jan.
So C A G a E x t . . . M a y ...........
So H a v e n A E ast. O c t o b e r ...
S outhern I n d ___ D ecem ber.
So P a cific C o b . . . N ov em b er.
C arson A Colo. N ov em b er
C entral P acinc. N ovem ber.
D ir e c t N a v . Co. N ovem ber,
Gal H a r A S A . N ovem ber.
G al H ou s A N o N ovem ber.
G u lf W. T. A P . N ov em b er.
H ous. E. A vV.T. N ovem ber.
H ou s. A S h rev. N ovem ber.
H ou s A T e x C e n N ov em b er.
Ib e ria A V erm . N ovem ber.
L o u is’ a W e s t... N ovem b er.
M org a n ’ s L A T N ovem ber.
N. M e x .A A riz.. N ovem ber.
N Y T A M ex .. N ovem ber.
O regon A Calif. N ovem ber
S on ora R y ........ N ovem ber
So P ac. C oast... N ovem ber.
So P a c RK C o.. N ovem ber.
So P a c SS L ines N ovem ber.
T e x A N O i l....... N ovem ber.
k
Southern R a liw ’ j 3d wT Jan.
T erre H A In d . . . D e ce m b e r.
T erre H A P e o r .. D ecem b er.
T e x a s C entral . . . 3 d w k J an.
T e x a s A P a c ific .. 3d wk Jan.
T e x S V A N W .. D ecem b er.
T if ton T hom . A G . N ovem ber.
T o l A Ohio C ent 3d w k JaD.
T ol P A W est . . . . 3d w k Jan.
T ol St L A W ........ 3 d w k Jan
T o r H am A B u tt. 2d w k Jan.
Un. P a c. p r o p e r 3 d w k Jan.
Union P a c R R . ]
Oreg R R A N
D ecem b er.
O reg Sh L i n e .;
W a b a s h ................. 3d w k Jan.
W Jersey A S ea’e N ovem ber.
W heel A L E ........ 3 d k Jan.
W ich ita V a lle y ... Ail g u s t__
Wm’ sport A’ N.Br. N ovem ber.
W isconsin C e n t.. 3d w k Jan
W rightsv A T ’ n .. D ecem ber.
Y a zoo A M iss. V. D e ce m b e r.

Juiy 1 to Latest Date,

Current
Year

P revious
Year

Current
Year

Previou s
Year

$
110 ,3 0 0
15,500
4,141
10,224
48,894
115,088
344,038
7 3 2 ,0 0 0
21,000
753 ,0 0 0
5 ,3 3 4
617 ,7 3 2
182,729
175,057
13,394
3,729
0 ,202,780
000,103
254 ,1 3 0
4 0 0 ,9 9 5
770,137
3 ,7 5 1 .1 2 4
30,952
500 ,0 9 0
9,4 0 5 ,8 2 5
In c. 9
173 ,9 2 7
1,044,159
594,441
3 ,9 8 0
1,951,733

$
1 0 9 ,000
18,132
3,848
10,098
63 ,2 1 0
84,743
337,128
018,001)
15,000
003,000
3,196
553,102
107,723
148,438
9,679
3,189
5,690,120
4 0 3 ,292
205,125
3 4 3 ,3 0 2
7 4 2 ,937
3,410,527
28,002
519,911
8,774.325
3,600
107,600
9 9 0 ,55y
014,481
5,979
1,779,097

if
2,727,700
491,085
24,073
3 0 0 ,255
2,041,007
4,200,319
10.207,140
21,701,577
070,808
22,37^,385
157,009
3,024,155
5,124.023
5,359,918
110,883
18,301
38,905,782
2 ,6 9 2 ,6 9 0
994,087
11,020,780
3,500,214
25,811,029
281,235
1,552,07b
49,713,943
In c . 2,1
5,72 9 ,7 0 8
5,479,135
2,817,200
13,992
11,720,3 42

;f
2.31 1 ,9 0 0
4 2 7 ,1 8 8
19.169
3 3 2 ,0 6 3
2,028,131
3 ,0 3 9 ,4 0 4
9 ,8 7 1 ,5 4 6
2 1 ,030,061
7 5 1 ,4 0 6
21 ,7 8 1 .4 0 7
87 ,7 0 8
3 ,1 0 0 ,3 2 4
4 ,3 8 9 ,3 8 5
4 ,1 2 7 ,7 5 5
88,508
17,088
3 7 ,861,688
3 ,0 9 2 ,2 2 4
1,453,737
9 ,5 5 3 849
3 ,0 7 3 ,2 1 4
2 2 ,957,402
2 4 8 ,4 0 7
1,375.321
14,572,243
33 ,5 0 0
5,34 4 ,3 1 2
5,12 0 ,5 3 5
3,308,931
15,372
10,933,298

706 ,3 1 8

598,739

8,475,502

7,948,368

2 ,861,119
2,9 0 1 ,3 5 9
5,7 0 2 ,4 7 8
98,059
45,428
9,042
4 5 4 ,4 0 0
30,029
110,521
7x28,476
18,710
# 6 2 4 ,3 1 3
1 3 6 ,3o0
187 ,4 3 9
2 2 6 ,8 9 3
92,868
/ 7 0 0 ,3 1 8
227 ,8 4 9
20,428
11,300
75 ,2 8 0
7 ,945.3^ 0
42 ,1 4 2
1,935,917
20,838
509 ,5 8 3
121,013
13,719
91 ,2 9 9
23,043
488,121
9 549
103.904
4 7 0 ,7 5 0
10,989
44 ,0 0 0
340 ,5 8 6
34 ,9 1 0
05 ,8 4 3
2 ,694,500
5 0 0 ,0 7 0
2 0 0 ,3 7 6
807,111
1i>o, i 04
50,528
12,238
215 ,4 0 8
10,000
14,801
57,197
25 ,4 2 9
0 1 ,2 2 0
8,079
601,851

2,41 1 ,7 0 0
2,483,857
4,895,557
9 1 ,0 0 0
53,093
9,948
4 4 9 ,400
31,320
109,878
11,445
21,417
#500,520
144,379
102,244
253,462
85,520
/ 598,739
227,054
18,173
5,872
48,070
7,407.291
35,372
1,700,395
29,020
6 9 8 ,040
44,501
13,108
102,126
24,250
499,405
8,603
170,750
5 7 9 ,9 7 0
23.559
30,309
301,239
53,917
75,519
2,407,108

13,845,944
6,410,899
2 0 ,262.843
408,591
264,034
337,349
5,341,154
1,099,038
533,1 I d
/i59,681
77,890
#17882159
4 ,2 4 7 ,6 9 2
1,17 5 .5 7 9
1,207,398
7 1 8 ,594
/ 8,475,502
6 ,8 0 3 ,6 9 4
250,882

15,106,407
15,305,239
3 0 ,411,040
4 3 1 ,7 5 5
2 7 5 ,1 0 0
3 3 2 ,420
4,908,081
9 9 1 ,092
042,581
22,507
80.103
#15899780
4,2 0 / ,4 1 0
1,077,475
1,187,483
6 2 8 ,0 2 0
/ 7,94 8 ,3 0 8
0,290.201
201,959

433,628
38,011,225
190,104
9,79 1 ,0 2 4
72 ,5 7 0
2,70 8 ,3 2 4
480,440
80,834
3 8 5 ,2 5 7
105,002
2,410.518
31,050
835,972
1,984,352
98,954
205,850
1,711,419
195,515
451,149
12,010,888
2,000,508
1.303,437
23,589,051
9 4 8 ,059
3 0 4 ,7 2 2
3 i o ,o 8 /
6,041,985
88,500
75,968
1,709,402
0 8 7 .108
1,754,935
250.451
16,937,408

3 1 7 ,372
30 .3 7 1 ,7 3 4
128.508
9,400,035
85,315
3,112,727
204,787
72 ,0 9 2
402,278
90 ,5 3 7
2,420,772
20,499
7 8 2 ,7 9 2
2,35 7 .1 7 0
100,144
108,100
1,520.901
215,119
4 3 9 ,802
11,998,923

2 5 7 ,650
770,473
124,305
42,973
12.396
249,615
20,000
11,050
50,183
21,479
49,058
7,853
591,201

1,23 9 ,3 4 4
2 1 ,318,235
8 4 0 ,814
2 9 2 ,530
399,141
6,942.085
90 ,4 0 0
50 ,5 6 0
1,640.172
6 6 8 ,700
1,527,529
271.792
10,611.900

4,158,007 3,896,220 •->7.025,756 25,445,085
394,072
226,063
7 3 ,2 6 4
5,331
13,880
105,700
10,749
090,208

393.908 11,956.660
217,103 2,092,732
59.439 2,313,898
10.775|
7,413
81.627
10,097
97,228 3,720,517
94.370
14,110
605,083 3,7-10,607

11.003.181
1,972.932
1,903.59b
12.941
64.498
3,33 4 ,0 9 2
74.055
3,411,088

$ C overs resu lts on lin es d ire ctly op erated .
tM exican cu rren cy , a In clu d e s P aducah A M em ph is D iv ision from J u ly 1 in b o th years,
t R esults on M on terey A M e x ica n G u lf are
included from M arch 1, l9 0 .\ but fo r no p art o f 190 c. n . o v e rs lines d ire ctly op era ted , in clu d in g the d u tia lo A A lle y Val. D iv .fo r bot h years.
o In clu d es the H ou ston A T e x a s C entral and its su b sid iary lines. E arn in gs oi tue C ro m w e ll Steam sh ip L\ue, uot p re v io u sly r e p o r te d , are
n ow also in clu d ed .
c R esu lts ou M on tg o m e ry D iv ision a re in clu d e d in both years.
d In clu d e s St. Paul A Duluth lo r both y e a rs.
/T h e s e figures are tlie resu lts on the A la . M idi., B ru n sw ick A W est., Charles. A s a w , Sav. Fla. A W est’ n a n d S ilv er S p rin gs O cala A Gul f .
g l'hese figures n o w in clu d e th e C liioago A E a stern Illin o is iu b o th yea rs, h F rom M ay, 1 9 0 2 , in clu d e s su u dry a cq u ired roads, i In clu d in g
earnings o f th e H a n co ck A r a in , b oth years, t lu clu d iu g ea rn in g s o f the Sav. F lor. A W est, iu b oth years, r In olu d es $ 1 0 9 ,8 3 1 oth er in com e
in D ec., 1902, and $ 6 9 2 ,3 9 1 from J u ly 1.

THE OHBONHUE

260

Totals (or Fiscal Year.
In the full-page statement on the preoeding page we show
the gross earnings of all roads for the period from July 1
that being now the beginning of the flsoal year of the great
majority of the roads. There are, however, some roads that
still have their own flsoal years. These with their dates are
brought together in the following.

Latest Gross Eaminge.
Period,.

R oads.

Allegheny Valley................... Jan.
Atlanta A Charlotte Air Line. Apr.
Bellefonte Central................. ,Jan.
Central of New Jersey........... Jan.
Chattanooga Southern......... Jan.
Chicago & North-Western.... June
Chic. St. P. Minn. & Omaha.. Jan.
Cumberland V a lle y ............. Jan.
International & Gt. North’n. Jan.
Manistee A North Eastern... Jan.
Manlstique............. . . . . . . . . . . . Jan.
Mexican Centralt----- . . . . . . . . Jan.
Mexican International....... Jan.
Mexican Railway.................. Jan.
Mexican Southern................. Apr.
Missouri P acific.................... Jam
Central Branoh.............. . Jam
Total......................... — Jam
National RR. of Mexico........ Jam
Northern Central................... Jam
North Shore............................ Apr.
Pennsylvania, East of P. & E. .* Jan.
West of P. A E........... ..
Jam
Pere Marquette................... . Jam
Philadelphia & Erie.............. Jam
Phila. Baltimore. A Wash'g’ii Nov.
Pitts. Cincln. Ohio. & St. L ... Jan.
Rio Grande Junction..... ....... Deo.
St. L. Vandalla & Terre H.... Nov.
South Haven A Eastern........ Jam
Terre Haute A Indianapolis.. Nov.
Terre Haute A P eoria.......... Nov.
Texas A Pacific...................... Jam
West Jersey A Seashore...... Jan.
Wichita V alley...................... Jam

1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to

Nov.
O ot
Deo.
Dec.
Jam
Dec.
Dec.
Nov.
Jam
Nov.
Dec.
Jam
Dec.
Jam
Jam
Jam
Jam
Jam
Jam
Nov.
Dec.
Nov.
Nov.
Jan.
Nov.
Nov.
Dec.
Nov.
Dec.
Oct.
Deo.
Deo.
Jam
Nov.
Aug.

Current
Tear.
30
31
3!
31
21
31
31
30
21
80
31
21
31
10
7
21
21
21
21
80
31
30
30
21
30
30
3!
30
31
31
31
31
21
30
31

Previous
Tear.

Inc.
1,756,116
58,368
15,107,661
6,763
29,511,896
11,907,521
1,112.648
290,063
309,1*2
104,407
1.293,931
6,643,161
151.800
742,825
2,024,000
57,000
2,081,000
497,754
7,652,808
441,014
103133919
Inc.
483,730
5,835,619
1,044,159
22.559,716
573,121
370,691

334,378
1,640,820
52.00*
16,783,488
5,250
28 584 103
11,196,403
1,014 376
2*7,477
311,519
93,462
1,051,699
5,960.824
161.900
655,067
1.807.000
42,000
1.849.000
421.323
7,624 008
391,375
93,028,719
5,473,800
471,819
6,293,647
990,559
20.684,355
575,851
340,712

308,784
100,094
654 482
3,670,384
39,617

* 265,438
90,626
619,614
3,465,584
45,970

__. . . . . . .

* These figures include the Buffalo A Allegheny V alley Division in
both years, t The operations o f the M onterey A M exican G ulf are
inducted from March 1.1902.

Latest Gross Earnings by W eeks.— In the table whioh
follows we sum up separately the earnings for the latest
week.
The table oovers the third week of January and
shows 7 ‘45 per cent increase in the aggregate over the same
week last year.
3d

week of January.

Increase.

1903

1902,

$
46,763
32,04
129,755
666,000
184,110
2.393
341,666
140,648
84.183
32,211
101,229
349,183
53,457
180,868
300.600
28,720
38,611
6,246
28,663

S
47,106
34,648
108,051
606,000
178,750
1,749
308,080
131,633
78,022
30.175
99,209
317,688
45,042
198.239
312,400
25,202
45,501
6,782
26,012

610,297

525,360

84,937

108,093
104,021
53,371
24,556
131,613
690,096
425,352
10,224
48,894
115,088
844,03*
732,000
21,000
182,729
175,057
400,915
173,927
9,042
624,313
136.356
227.849
807,111
12.238
215,468
67,197
25,4 79
61,220
601,851
394,672
73,264
105,70u

105,654
102,936
53,22*
22,639
129,830
632,635
336,547
10,098
63,210
84,743
337,128
648,000
15,000
167,723
143,438
343,362
167,600
9,945
566,520
144,379
227,654
770.473
12,396
249,615
50,183
21,479
49.658
591,261
393,908
59,439
97,228

2,439
1,085
149
1,917
1,683
57.460
88,805
126

10,400,213
Total (54 roads)....
Net increase (7-4s p .o .)..
..............

9,669,460

Decrease.

Alabama Gt. Southern..
Ann Arbor......................
Buffalo Rooh. A Pittsb’g
Canadian P a cific... . . . .
Central of Georgia . . . . . .
Chattanooga southern..
Chesapeake A O h io ......
Chicago Great Western.
Ohio. Indian’lis A Loulsv.
Chic. Term. Transfer___
Oln. N. O. A Texas Pao..
Olev. Cin. Chic. A St. L ..
Peoria A Eastern........
Colorado A Southern—
Denver A Rio Grande* Detroit Southern............
Duluth So. Shore A A t...
Evansv. A Indianapolis.
IU U C
Evansv. A Terre Haute..
Grand Trunk...
Grand Trunk West
w
Det.Gd. Hav. A Milw, j
Hooking Valley............. .
Intern’! A Gt. Northern.
Iowa Central..... .............
Kanawna A Michigan...
Kansas City Southern...
Louisville A Nashville..
Mexican Central........... „
Mineral Range...............
Minn. A St. Louis........
Minn. St. P. A 8. Ste. M.
Mo. Kansas A Texas___
Mo. Pacific A Iron Mt....
Central Branoh............
Naslrv. Chat. A St. Louis.
National RR. of Mexico.
Norfolk A W estern.... .
Pere Marquette . . . . . . . .
Rio Grande Hoat hern...
8 t Louis A San F r a n ..)
Chlo. A E. Hi............ i
St. Louis Southwestern..
Seaboard Air Line..........
Southern Railw ay........
Texas Central.................
Texas A Pacific............. .
Toledo A Ohio Central..
Toledo Peoria & West’n .
Toledo St. L. A West.......
Union Paolflo P roper....
Wabash . . . . . . . . . . . . . . . . .
Wheeling A Lake E rie..
Wisconsin Central.........

* Including Rio Grande Western.

—

$
21,704
60.000
5,360
644
33,586
9,010
5,261
2,036
2,020
31,495
8,415
2,629
3,518
2,561

30,345
6,910
84,000
6,000
15,006
26,619
57,633
6,327

$

343
2,601

11,800
6,890
536

14,316

906
57,793
195
36.638
7,014
3,950
11,562
10,593
764
13,825
8,472
810,473
730,753

8,025
158
34,147

79,720

........

[V o l . LXXVL

N et E a r n in g s M o n th ly t o L a te s t D a te s.— The ta b le fo llo w ­
ing sh ow s th e g ro ss a n d n e t e a rn in g s o f S t e a m ra ilroa d s
reported th is w e e k , A fu ll d e ta ile d sta te m e n t, ln o lu d in g all
roads fro m w h io h m o n th ly re tu rn s oan be o b ta in e d , is g iv en
on ce a m o n th in th e se o o lu m n s, a n d the la te st sta te m e n t o f
■his k in d w ill be fo u n d In th e C h r o n ic l e o f Jan, 24,
1908, T h e n e x t w i ll a p p e a r In th e Issue o f Feb. 21,1908.
Gross Earnings. —
Current Previous
Tear.
Tear.

,—

.

- —Net Earnings.----- ,
Current Previous
Tear
Year.

Roads.
$
$
$
$
Alabama Gt.B’ th.d.Deo.
216,203
213,879
44,457
73,027
July 1 to Deo. 3 1 .... 1,342,933 1,253,928
344,257
378,233
Atch.T 4 8. F p.b Deo. 5,539,866 5,3<’ 8,952 t2.332.891 t2,311,394
July 1 to Deo. 3 1 ... 31,695,051 30,876,256 U2926220 tl3472640
Bay Counties Pow..Deo.
43,763
32,763
............
Sufi. R. A PittbS.b.Dec.
528,975
475,041
192,768
177,917
July 1 to Dec. 3 1 .... 3,726,000 8,860,650 1,631,233 1,542,484
Buffalo^ S’ 8queh.aDeo.
86,750
69,010
tl7,?.49
t29,937
July 1 to Deo. 8 1 . . . .
505,384
433,085 t . 35,672 tl89,890
Canadian Pacific.a Deo. 3,959,146 3,497,733 1,672,442 1,568,691
July 1 to Deo. 31....22,514,903 19,897,549 8,796,185 8,230,839
Cent, of Georgia a Deo.
816,380
750,992
255,956
245.724
July 1 to Deo. S i..... 4,668,584 4,056,999 1,416,631 1,287,507
Cent, of N.Jersey.a.Dec. 1,629,724 1,209,773
647, 00
34,694
July 1 to Deo. 3 1 .... 7.674,824 8,689.831 2,30>.140 3,436,900
Jan. 1 to Deo. 3 i . . . . 15,107,661 16,783,498 4,757,255 6,832,811
C ental Paolflo.b...Nov. 1,935,917 1,706,395
813,143
663,305
July 1 to Nov. 3 0 .... 9,791,024 9,400,035 4,249,982 3,922,595
Obesap. A Ohio a..D eo. 1,445,157 1,253,218
522,481
455,217
July 1 to Deo. 3 l . . . . 7,589,794 8,479,647 2,513,562 3,329,556
Chicago A A lton .a Dec.
848,778
761,092
227,491
251,653
July 1 to Deo. 3 1 .... 5,186,863 4,903,424 1,733,619 1,670,009
Chic. A East. 111. b. Dec.
671,901
552,157
299,322
261,757
July 1 to Dec. 31 ... 3,719,804 3,131,742 1,705,702 1,433,278
Chic. -M A St. P.a..Deo. 3,903,803 3.99',254 1,493,228 1,536,429
.
July 1 to Dec. 31....25,177,967 24,386,250 9,607,7»9 9,092,508
Chic. R.I. A Pae.a..Dec. m3,976,790
............ 1,4 14,8 3 7
...........
July 1 to Deo. Sl....m24,298.887
10,169,355
...........
Oln. N. O. A T. P.a-Dec.
462,106
429,393
113,164
106,695
July 1 to Dec. 3 1 .... 2,908,456 2,757,UbZ
72»,915
721,190
Erie.a. . . . ........... Deo. 3,867,873 3,105,172 1," 87,303
668,983
July l t o Dec. 3 l ...22,087,348 21,322,545 7,033,544 6,603,254
Fairchild A N . East, Dec.
2,811
2,909
450
1,535
July 1 to Dec.
20,312
17,199
7,868
8,373
Ga. South. A Fla.a.Dec.
145,687
109,957
41,580
32,043
July 1 to Deo. 3 1 ....
769,914
633,232
219,261
181,416
Hocking Valley.a..Deo.
425,053
386,067
113,398
117,412
July 1 to Dec. 3 1 .... 2.985,989 2,698,192 1,084,758 1,081,506
Ind. IU. A Iow a.b Deo.
161,420
139 226
42,376
31,645
July 1 to Dec. S i ....
851,572
848,764
230, 52
248,493
Iowa Central.a__ Deo.
198,592
212,424
r 4 V 93
r44,977
July l t o Deo. 3 u . . . 1,250,289 1,275,438 r 188,764 r200,046
Iron R a ilw a y.b....D eo.
8,337
6,621
3,017
1,736
July l t o Deo. 3 1 ....
41,081
39,606
9,078
14,275
Lou. Hen. A 8t. L..Nov.
65,084
57,456
18,914
16,071
July 1 to Nov. 3 0 ....
343,516
303,526
115,930
89,042
Maryland A Penn..Deo.
20,075
19.431
4.360
5,305
Mar. 1 to Deo. 3 1 ....
246,620
71.837
...........
C Mex. InternaVL.-Deo.
689,947
547,038
301,318
185.062
Jan. 1 to Dec. 3 1 .... 6,543,161 6,960,824 2,532,632 2,417,094
Millen A Southwest.Deo.
4,141
3,848
335
1,371
July 1 to Dec. 3 1 ....
24,673
19,1 b9
6,920
2,165
Minn. A 8t. Louis.a.Deo.
265,627
285,532
v.93,393 v ll7 ,0 1 0
July 1 to Deo. 3 1 .... 1,889,091 1,862,988 v751,6i3 V798.783
N. V. Ont. A West.aDeo.
600,163 463,292
204,085
106,554
July 1 to Deo. 3 1 .... 2,692,696 3,092.224
631.575
951,156
N. Y.Sus. A West.a.Deo.
254,136
205,125
116,535
87,811
July 1 to Deo. 31___
994,687 1,463,737
328,342
691,284
North Shore (Cal.) bDeo.
30,952
28, 02
3.120
def.118
Apr. 1 to Deo. 3 1 ....
441,014
3 9 1.375
177,860
91,940
Jan. 1 to Dec. 3 1 ....
524,223 474,401
183,986 102,636
Reading Company—
Phila. ARead’g.b.Deo.
2,861,119 2,411,700 1,061,624 959,610
July 1 to Deo. 31....13,845,944 15,106,107 4,331.372 5,837,093
Coal A Iron Co.b.Deo.
2,901,359 2,483,857
521,010 152,082
July l t o Dec. 3 1 .... 6,416,899 15,305,239
9,691 1,436,339
Total both Co.’s.bDec.
5,762,478 4,895,557 1,582.634 1,111,692
July 1 to Deo. 31....20,262,843 30,411,646 4,341,063 7,278,432
Reading C o .b .....D eo.
........
........
1 4.943
83,296
July i to Deo. 3 1 ....
........
........
696.538 495,166
Total all Comp’ s.bDeo.
........ .................... 1,697,577 1,194,988
July 1 to Deo. 31............................................ 5,03V,601 7,768,599
Rio Grande Junot..Nov.
45,428
53,093
fl3 ,6 2 8
f 15,928
Deo. l t o Nov. 30 ..
573,121 575.351 fl71,936 fl72,604
3 t.Louis S’w est.b. Dew
669,190 6^8,007
160,145 224,148
July 1 to Deo. 3 1 ....
3,863,487 3,848,831 1, 04,379 1,154,640
San Ant.AAran.P.aNov.
226,893 253,462
72,927 109,680
July 1 to Nov. 3 0 ....
1,207,398 1,187,483
392,363 429,571
iSouthernPac.Co.aNov.
7,945,320 7,467,291 2,401,532 2,866,941
July l t o Nov. 3 0 ....38,011,225 36,371,731 12,899.930 13,743,631
Carson A Colo., b Nor.
42,142
8\3’2
5,*65
25,495
July 1 to Nov. 30 ...
196,104 128,508
130 2 >7
82,739
Central Pacific-b Nov.
1,935,917 1,706.395
813,143 663,305
July 1 to Nov. 3 0 ....
9,791,024 9,400,035 4,249, 83 3,922,595
Direct Nav. Oo.b Nov.
20,838
29,626
5,859
6,435
July 1 to Nov. 30 ...
72,576
85,315
8,046
10,432
Gal.Har. A S’ n A.bNov.
569,583 698,040
82,209 230,708
July 1 to Nov. 3 0 ....
2,768,324 3,112,727
514,115 971,341
Gal. Hous. A No.b.Nov.
121,013
44,501
45,061 def.3,554
July 1 to Nov 3 0 ....
480,446 204,787
167,899
6,277
Gulf W. T.A Pao.bNov.
13,719
13,108 def.2,177 def.4,265
July 1 to NOV. 3 0 ....
80,834
72,692
7,082
7,988
Houst. E.AW.T.b.Nov.
91,299 102,126
14,018
43,724
July 1 to Nov. 3 0 ....
385,257 402,2,8
28,304
137,986
Houst.A8hreve.bNov.
23,043
24,256
8,526
July 1 to Nov. 3 0 ....
105,662
96,537
34,716
38,229

THR CHRONICLE

January 31, 1903;]
Gross Earnings.— .
Current
Previous
Year.
Year.

,—

------ Net

Earnings.-------Current Previous
Year.
Year.

$
$
152,099
488,121
499,405
Hous. A Tex. C .b.N ov.
950,929
July 1 to N o y . 30 ... . 2,416,518 2,426,772
6,524
9,549
8,603
Iberia A V erm ll.b Nov.
17,822
31,056
26,499
July 1 to Nov. 3 o ...,
73,077
163,904
176,756
Louisiana West, b Noy.
387,079
835,972
782,792
July 1 to N o y . 30 —
253,489
476,756
579,970
M’g’ n’ sLa.& T ex.lN ov.
885,208
, 1,984,352 2,357,170
July 1 to N o y . 3
2.942
16,989
23,559
N. Mex. A A rlz .b Nov.
26 764
98,954
106,144
July 1 to Nov. 3 0 ___
16,824
44,066
36,369
N. Y . T ex. * M .b Nov.
92,886
205,856
168,166
July 1 to Nov. 30 ..
86,065
346,586
301,239
Oregon & O allf.b.N ov.
508,303
July 1 to Nov. 3 0 — 1,711,419 1,626,961
34,910
53,917 def.1,301
Sonora Ral Iw’y b.Nov.
13,103
195,515
215,119
July 1 to Nov. 3 0 —
65,843
75,519 df.236,797
Bo. Pae. C oa st..b Nov.
451,149
439,802 d f 195,239
July 1 to Nov. 3 0 ___
pSo. Pao.RR Co. bNov. 2,694,506 2,467,108 1,030,570
July 1 to Nov. 3 0 ___ 12,610,888 11,998,923 5,141,862
155,464
506.070
............
So.Pao 88.L1nes.bNov.
586,361
............
July 1 to Nov. 30 ... 2,060,508
45,018
266.376
257,650
Texas A N. Or 1 b.N ov.
255,098
July 1 to Nov. 3 " . . . . 1,363,437 1,239,344
Southern Rail w’ y.a Deo. 3,531,963 3,165,321 1,016,670
July 1 to Deo. 3 1 .... 21,320,089 19,130,804 6,363,634
19,654
65,272
75,298
Texas C e n tr a l.a ... Deo.
86,273
335,984
361,953
July I to Deo. 31 . . .
Union Pao.8yst’ ma.Deo. 4,158,067 3,896,226 1,795,844
July 1 to Deo. 3 1 .... 27,025,756 25,445,085 12,971,983
403,191
W abash.b.----------- Deo. 1,694,345 1,592,342
July 1 to Deo. 3 i — 10,845,585 9,937,617 3,216,0 4
83,991
330,350
253,580
Wheel. A L. E rie .b .D e c.
498,018
July 1 to Deo. 3 i — 2,110,622 1,788,605
148,033
490,621
441,976
Wleoonsin Central b Deo.
July 1 to Dec. 3 1 .... 3,417,417 3,051,202 1,309,385
8,275
16,749
14,116
W rlghtsv. A Tenn.bD eo.
40,335
94.376
74,655
July l t o Deo. 3 1 ....
Roads.

204,629
995,167
6,084
16,793
91,427
358,902
340,598
1,063,021
1,382
del. 18,481
16,622
73,274
107,608
558,663
13,703
12,772
1.117
60,103
1,121,797
5,495,963
62,046
318,406
969,450
6,13 j,625
32,725
111,886
1,842.995
12,501,735
402.968
3,069,832
42,234
525,884
139,009
1,119,665
6,115
28,703

m N etearnlngs here g iv e n are a lte r dedu otln g t a x e s ,
b Net earnings here given are b efore d eduotlng ta x e s ,
c These figures are In Mexioan ourrenoy, and are con vertible into
gold at the current rate o l exchange,
f Thirty per oent o f gross earnings.
1 These figures include H ouston A Texas Central and Its subsidiary
lines and also Steamship Lines.
m Inoludes other inoome amounting for Deoem ber to $109,834 and
from July l to Deo. 31 to $692,391.
p Includes results on form er Southern Paolflo o f Arizona, Southern
Pacific o f California and Southern Paolflo o f New M exico.
r For Deoember additional inoome is $6,988 this year against $1,956
last year. From July 1 to Deo. 31 additional inoom e is $29,704
against def. $7,527 last year.
t A fter adding $12,073 other incom e fo r Deoember, 1902, and $3,273
for December, 1901, total net Inoome amounts to $49 622 and
$33,210, respectively. From July 1 other Inoome amounts to $53,414
and $17,502, making total net inoome $289,086 and $217,392, resp ec­
tively.
IQ vFor Deoember additional inoome Is $12,561 this year, a g a in st
$10,060 last year. From July 1 to Deo. 31 additional Inoome Is $89,370 this year, against $74,486 last year.
tF o r Deoember, 1902, taxes and rentals amounted to $117,528,
against $103,043, after deducting whloh net for Deoember, 1902, was
$2,215,363, against $2,208,351. From July 1 to D eo 3 1 ,1 9 0 2 , taxes
and rentals amounted to $1,048,501, against $945,801, after d ed u ct­
ing whloh net was $11,877,719, against $12,526,799.

In terest Charges and Surplus*— The follow ing roads, m
addition to their gross and net earnings given In the fore,
going, also report oharges for interest, & o ,, w ith the surplus
above or deflolt below those oharges,
,— Tut., Rentals, etc. — . / Ral. o f Net Earn’gs.—
—
.
Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
Roads.

$
14,068
143,944
827,572
134,090
512,807
17,838
106,999
2,875
28,748
12,292
100,459
124,320

$

$
18,695
*191.562
*1,033,450
*328,153
*958,641
25,543
123,753
1,475
43,039
d ef.9,172
67.391
59,666

$

Bay Counties Pow. .Dec.
*157,340
Ohio. A E. Illinois..Deo.
132,368
*761,800
July 1 to Deo. 3 1 ....
788,686
*293,949
Hooking V alley...... Deo.
135,876
498,792
*922,037
July l t o Deo. S i.....
14,579
Indiana 111. A l a . . ..D eo.
17,066
July 1 to Dec. 31---102,025
140,468
Maryland A Penn..D eo.
2,875
2,930
Mar. 1 to Deo. 31___
def.8,072
North Shore (Cal.)..Deo.
7,954
75,484
16 456
Apr. 1 to Deo. 3 1 ___
4,630
Jan. 1 to Deo. 3 1 ....
98,006
B e a d in g 315,906
879,082
796,577
901,000
All com panies— Deo.
July 1 to Deo. 31 — 5,346,000 5,274,492 df.308,399 2,494,107
5,920
8,220
7,708
7,708
Rio Grande Jun o t... Nov.
80,106
92,498
92,498
79,438
Deo. 1 to Nov. 3 0 ___
*1,692
189,807
Wisconsin Cent.......Deo.
*7,357
144,635
875,993
840,765 *454,946 *292,014
July 1 to Deo. 31___

261

STREET R A ILW A Y S AND TRACTION COMPANIES.
G ross
E a r n in g s .

Latest Gross E a rn in gs

Jan. 1 to Latest Dale.

urrent
Week or Mo Our’ nt Prev’ us OYear. P revious
Year.
Year.
Y ear.

9
$
*
$
Amorloan R’ye.C o. 0 Deoember. 96,158 82,26? 1,147,912 904,561
4,110
4,094
43,201
November
35,875
September 21,451
Binghamton R R . . November 15,9^5 16.107 192*840 185,1*05
Br’ klyn Rap.Tr. Co. Deoember. l, tD6,192 1,038,168 13,089,146 12,481,683
Burllngt’n (Vt.) Trao December.
5,611
5,053
68,64
59,447

Gas A E leo..........
thloago A Mil. Elec
Cln. Dayton A Tol. Tr
Cln. Newp. A Coving
Light A Traction t
Citizens Ry. A Llgh
(Musoatlne, Iowa)
JltyElec. (Rome.Ga
Cleveland Eleotrlo .
Uleve. Ely A W est...
Jleve. Palnev. A E ..
Dart. A W ’port 8t.Ry

Deoember.
Deoember.
Deoember.

45,872 *80,091
12 859 11,719
36,45g 31,117

November

99,151

190,1H

171,171

68,131 1,003,407

749.403

9,219
89,866
Deoember.
7.654
73,434
8,689
December.
42.403
3.581
41,248
December 217,594 196 624 I 503 65* 2,275,469
Deoember 24,710 19,406 300 845 24 9 259
Deoember. 12,473 11,820 189.187
164,971
7,0 8 1
7,908 130.03
Deoember.
121.581
Id wk Jan. 68,296 62,739 200,709 187,606
•
November 29,452
Deoember. 48.769 40,541
538,031
453,704
12,95)
November 16,94'
December. 34 999 30,199 410 431 361,664
November. 15 521 10,OH
160,0 * 112,892
Decemoer. 37,865 34,665 457,705 391,176
September 32,282 27,537
9,642
December.
ioi',9 94

Arb. A Jackson Ry
Ouluth-Sup T ract...
East. Ohio T raction..
Elgin Aurora A Bon
lalveeton C ity ____
Tarrlsburg Traotior
Houston Eleo. St. Ry
Indlanap. & East. Ry
In ernat 1 Trao. Co
System (Buflalo).w Deoember.
November
November
■ehtgh Traction...... Decern ber.
Lexington R y .......... November
uondon8t. Ry.(Can. November
Los Angeles Railway O c to b e r ...
Vlad. (Wis.) Traction Deoember.
December
Mil. Eleo. R y .A U .C o Deoember
Mil. Li. Heat & Tr. Co Deo mber
Montreal Street R y December.
Musk. Tr. A Light. Co.
Street Ry. D epart.. November
Eleotrlo Ligh t Dep November
Gas D epartm ent... November
Nashville R y............ August___
Naw London St. R y. November
Northern Ohio Tract Deoember.
Northwestern E lev .. December.
Oakland Trans. Cone December.
Mean St. R ailw ay.. December.
Orange Co. Traction Deoember.
Pacific Eleotrlo ...... O ctober...
Peeks. L’ t’g A RR. Co. O cto b e r...
’ hlladelphla C o .j___ December.
Pottev. Union Tract Deoember.
Pueblo & Suburban
Tract. A Light’ g Co. November
Rys C o.G en .-R oad s. D-oember.
Light Co’ s ............... Deoember.
Rochester R a ilw a y .. Deoember.
'neramento Eleotm
Gas A R y .. . . . . . . . . . November
St. Louis T ra n sit... Deoember
Savannah Eleot. Co. September
Seattle Eleotrlo Co. . September
South Side Elevated Deoember.
8pringfleld(ill.) Con Deoember.
Syracuse R ap.T r. R y December
Terre Haute Eleo.Co September
Tol. Bowl.Gr.A 8o.Tr December
Toledo Rvs. A Light. Deoember.
Toronto R a ilw a y . . . Wk. Jan.24
Twin City Rap. Tran 3d wk Jan.
Union (N. Bedford)
Deoember
Union Trao. o f In d .. Deoember.
United R R ’ s o f San
F ranolsoo............... Deoember.
United Trao.—(Alb.) Deoember
Va. Pass. A Pow er Co November
Youn gstown-Sharon
Ry. A Lt. C o............ Deoember.

309,871
19,541
42,540
9.552
20,899
12,355
135,663
7,217
179,307
260,189
29,940
177,367

270,650
27,778
10.721
16,450
12 084
99,047
5,505
156.193
229 36 f
20,85'
158,196

416,390
98.271

329,376
128,949

139 661
128,897
1,187,298 892,627
H 7 9 .4 5 4
1.932.686 1,678,706
2,737,32c 2,417,434
351,762 825,231
2.098.686 1,924,318

5,949
5,2*0 r7 9 ,l 99 r05,276
2 , ' 96
2,52 f
r^0,920 rl8 ,8 2 3
4,832
3,548 r27,56 i r22,551
73,070 61,93
5*9,291
483,848
3,904
64,465
66,992
3.865
64,156 53,484 745,043 617,010
110.991 98,230 ,167,639 1,016,355
87,249
945 86t
6,369
61,9 2 "*53^592
4,638
6,409
6,882 101,548
101,415
61.342
9 02
1,378,133 1,206,282 13,795,054 12,189,134
161,648 173,210
37,634
20 990
2 158
103,155
45,424
550,551
42,882
163,68
137,195
18,746
67,405
32,716
28,444
139,608
34.074
69,305
27,947
82,935

23,733
17.371
2,176
98,002

273,434
22.17t

218,786
20.836
1,022,009

36,092
442,129 880,302
464.807 f
5,777,601
38,402
127,425
123,594 ]
1,316 507
196,609
15,533
170,772
63,470
32,156
246,933
126,378 1.459,091 1,811,084
122,626
27,546
104 566
61,047 208,594
185,290
336,304 278.653
23 851
70,137 948,388 742.654

515,294 164,041 s< 434,054
136.910 ............ 1
1,378,088
122,396
47,857

........

444.985

w Beginning with Deoember results are for In tern ’l Traction Co.
System, which now owne all the operating com panies Included in the
International Railw ay Co.
t Beginning with August results for 1902 are fo r Cincinnati Newport
A Covington Light A Traotion Co. Figures for year to date Beem also
to have been revised at same time.
t Results now include the Pittsburg Railw ay Co., operating the C on­
solidated Traction and all the other controlled properties In Pittsburg.
I These are results for properties owned.
SThese figures are from March 20th to Deoember 31.
n These earnings Include the Detroit United R y., Detroit A Port
Huron Shore Line and the Sandwich Windsor A Am herstbnrg B y.
r These figures are from Mar. 1 to Nov. 80.
a Figures for 1901 were unusually large ow ing to the South Carolina
Inter State E xposition at Charleston.

Street R ailw ay N et E arnings.— The following table give*

the returns of Street railway gross and net earnings received
this week. In reporting these net earnings for the street
railways, we adopt the same plan as that for the steam
roads— that is, we print eaoh week all the returns reoeived
that week, but onoe a month (on the third or the fourth
* A fter allow ing fo r oth er Inoom e receiv ed .
Saturday), we bring together all the roads furnlsning re­
STREET R A IL W A Y S AN D TR ACTIO N C O M PA N IES.
turns, and the latest statement of this kind will be found
The following table shows the g ro ss earnings for the latest In the Chronicle of Jan. 34, 1903, The next w il' appear
in the Issue of Feb. 21, 1903.
period of all street railways from which we are able to ob­
Net Earnings.
Cross Earnings
tain weekly or monthly returns. The arrangement of the
rrerw u s
Cn rrent
Previous
Current
Year.
Year.
Year.
Year.
table is the same as that for the steam roads—that is, the
Roads.
$
$
$
$
first two columns of figures give the gross earnings for the
Citizens’ Ry. A Light—
latest week or month, and the last two columns the earning*
7,654
4,014
(Musoatlne. Ia.)..D eo.
9,219
73,434
29,957
Jan. 1 to Deo. 3 1 ....
89,865
for the oalendar year from January 1 to and including suob
40,541
20,071
Dalnth-Sup. T rao..D eo.
48,769
15,499
.— . /- ------

,—

latest week or month,

Jan. 1 to Deo. 31___

538,031

453,704

249,058

--------.

202,389

262

THE CHRONICLE,
Gross Earnings . — s ----- Net Earn in g s.-----C u rren t
P rev io u s
Current
Previous
Year.
Year.
Year.
Year.

—

Roads.

$

G eneva W aterloo Seneca
Fall 8 A C ayuga Lake—
jKfeOot. 1 to Dec. 3 1 ___
July 1 to Dec. 81 ___
H arrisb’ g T r a o t’n ..D ec.
Jan. 1 to Dec. 3 1 ___
International Tract. Co.
System (Buffalo)..Dec.
Los A ngeles R y ___Oct.
Jan. 1 to Oct. 3 1 ___
M ilwaukee Eleo. R y. <fc
Light Co. b ........ Dec.
Jan. 1 to Dec. 31 ----M ilwaukee Light, H eat &
T r a o tio n C o .b ...D e c .
Jan. 1 to Dec. 31 . . .
Oakl’d Trans. C ons.D ec.
Jan. 1 to Deo. 3 0 .. .,
Olean Street R y— Deo.
July 1 to Dec. 3 0___
Orange Co. T r a c___Dec.
• Jan. 1 to Dec. 31 ___
July 1 to Dec. 3 1 .. ..
O sw ego T raction —
Oct. 1 to Dec. 3 1 ____
July 1 to Dec. 3 1 ___
Poughkeepsie )ity<fc Vappingere F a lls Oct. 1 to Dec. 3 1 ___
July 1 to Dec. 3 1 ___
R och ester R y .......... Dec.
Jan. 1 to Dec. 3 1 ___
Syracuse Rap T r .b D e c.
July 1 to Dec. 3 1 ___
T oled o B ow lin g Green
< South’ u T ta ct..D e c.
fe
Jan. 1 to Dec. 31 —
Tw in City Rap. Tr.. .Dec.
Jan. 1 to Dec. 3 1 .. ..

$

$

$

34,665
391,176

5,473
19,507
13,146
193,937

12,751
150,539

309,871
135,663
1,187,293

270,650
99,047
892,627

139,914
64,134
530,659

95,827
38,959
353,607

260,189
2,737,320

229,365
2,417,434

141,442
1,451,285

123,705
1,231,900

29,940
354,702
87,249
945,864
6,359
61,922
6,409
101,543
59,231

26,857
325,231

9,114
128,791

4,638
53,592
6,882
101,415
59,632

12.187
153,346
41,671
395,520
2.085
27.718
def.1,043
38,862
25,440

6,709
20,699

8,056
24,854

59
5,229

1,257
8,118

21,058
49,259
103,155
1,107,738
67,405
370,159

20.947
49,403
98.002
1,022,009
63,470
845,096

4,245
7,299
50,242
530,816
30.601
167,092

6,816
20,662
48,169
432,810
29,097
156,811

294,341
3,173,975

10,513
115,166
179,875
1,982,040

180,235
1,758,524

14.688
40,514
37,855
457,705

23,444
246,932
331,331
3,612,210

••••••••

. . . . . . . .

1,754
26,506
2,880
41,205
26,366

[Y ol . l x x v i ,
BALNCE SHEET JUNE 3 0 , 1902.

Assets.—
P roperty a c c o u n t...........$2,683,646
A ddition s fo r year.........
24.090
M adeline exten sion .................
78,173
B< i ds to treasu ry ..................
37,' 00
700
Stocks o w n e d .................
Cashier........................................
15,257
M oran Bros., cu rren t.............
11
Due from agen ts............... ......
2 ,loo
Individuals and com pa n ies..
3,1 8
U S. G overnm ent P. o . D e p ..
2,404
U. S G overnm ent Q. M. D e p ..
45
Expreas com pany
...........
140
Sierra Valle* s Ry. Co....
157,185
Material accounts. .................
14,29 .
T otal a s s e t s ............. $3,018,820
—Y . 74, p. Ii96.

Liabilities —
Capi'al stock, com ........
$1,450,000
Capita' stock, p re f..........
750,'00
M ortgage b »nds ......................
487,000
A ccrued in terest.......... ..........
3,760
V o u c h e r s ...................................
0,158
Pay-rolls......................................
5,104
Unclaim ed w ages....................
346
H ospita fu n d ...........................
094
Net traffic b a la n c e s ...............
9,969
M«>ran Bros., loan accoun t
Sierra Valleys Ry.
157,214
M o r a n Bros., construction
a c c o u n t ...................................
78.673
Profit and loss....................
09,803
T ota l lia bilities.................. $3,018,820

D etroit U n ited R ailw ay.
( R e p o r t f o r the y e a r en d in g D e c . SI, 1902. J
The annual report says in su b stan ce
On Jan. l et, 1903, the num ber o f miles o f street railw ay operated, in­
cluding side and yard tracks, agregated 514 mile*, viz : D etroit United
Ry., 381; R apid R ailw ay system , 121; Sandwich W indsor & Amheratburg Ratlwav, 12. During the year there wag added 13 miles,
viz.: D etroit United R y.. 2, and R apid R ailw ay system. 11.
The com pany’ s properties during the past year have been m aintained
to the highest standard o f effloien y.
There has been charged out on the balance sheet under the head of
“ additions and betterm ents” as follow s:
D etroit United Ry., $54^,134, including: Purchase o f 20 open
cars and 25 closed cars, also 65 m otor and track equipm ents, $181,099; additional p ow er house m achinery, $109 5 0 compl eti on o f a
storage battery plant at H anoook and Third streets, $ II, 418; Mon­
roe A venue shops. $93,097 ; rem ainder chiefly im provem ents such
as ballasting, etc.
A lso on Rapid R ailw ay system $104,897 for the con struction o f
9-43 miles o f track known as the • cut-off” betwenn A n ch orvile and
‘
Marine City, and the com pletion o f several car houses, additional
feed wire and sub-stations, and on the Sandwich W indsor & Am herstburg Ry., $143,858 fo r the Am herstburg E xtension and the recon ­
struction o f som e tracks in the City o f W indsor.

In v estm en ts. —The investments were increased as follow s:

a Not earings here given are after deducting taxes,
b Net earnings h ere g iv e n are b efore d ed n otln g ta xes.

Under agreem ent o f June 1 1 ,1 9 0 1 , and an agreem ent aubsequent
thereto, this com pany has paid $1,436,728, o f which $1,3 £0,994 has
been paid since Jan. 1, 1902. for the acquirem ent o f all the capital
In terest Charges and S u rp lu s.
stock of the D etroit < Pt. H uron Shore Line Ry.
fe
O rganizition and legal expenses incurred in securing all o f the
- Int ., Rentals, etc.— s r-Bal. o f Net Earn'gs.—
*
capital stock o f the Sandwich W indsor & A m herstburg R y. and the
Current
Previous
Current
Previous
City Ry. of W indsor, $3,455.
Year.
Year.
Year.
Year.
Roads.
Purchase o f $88,000 bonds o f the D etroit & Lake 8t. Clair R y . as
$
9
required by term s o f agreem ent o f date June 11, 1901. for the pur­
G eneva W aterloo Seneca
chase of the capital stock of the D etroit and Pt. H uron Shore Line R y.
Falls & Cayuga Lake—
The retirem ent of $259,000 5 p o. bonds o f the Detroit Suburban
*442
O c t 1 to Dec. 3 1 ___
5,134
Ry. Co. This takesou t o f escrow and brings into ihe treasury $259,1 0 ,2 6 8
July 1 to Dec. 31 —
*9,443
000 o f D etroit United R ailw ay Consolidated 4 1 p. c. bonds.
*
International Tract. Co.
The pnrohase for the sum o f $8,000 all or the capital stock, viz ,
132,822
128,241
System (Buffalo)..Deo.
7,092 def.32,414 $ ‘ 0,000 and all o f the bonds, viz , $10,000, o f the R ochester Ltght A
20,982
21,096
43,162
17,863 Pow er Co. o f Rochester, Mich.
Los A ngeles R y — O c t
The oom pany has Invested of Its perm anent insurance sinking fund
M ilwaukee E lec. R y. <
fe
67,162
71,257
*92.481
*71,105 $15,000 in D etroit United R ailw ay 4 ^ p. c. bonds.
Light C o.................Dec.
747,839
7 9 3 ,8 0 5
Jan. 1 to Deo. 3 1 ___
*686,714
*501,669
The results from operating the several lines during the
M ilwaukee Light, Heat &
calendar year 1902 were as follows:
9,529
Traction C o........... Dec.
8,488
626
2,658
112,259
Jan. 1 to Dec. 3 1 .. ..
102,694
*41,127
*26,243
Company—
Gross.
’N et.
Oth. inc. In terest• Divs. Ttal.x
sur
Detroit United Ry___$3,473,140 $1,505,008 $28,014 $815,004 $5 0,000 $219,218
O sw ego Traction—
Rapid Ry. sy stem —
422,071
109.007
3,850 127,3 19
x<.750
42.848
3.324 d ef.3,332 def.*2,042 Sand. W ln d .& A m ...
3 ,3 9 1
O c t 1 to Dec. 3 1 ___
60,194
25.942
9,409
6,680
x7,875
20,890
6 ,9 3 1
6,644 d e f.*1,702
*1,536
July 1 to Dec. 3 1 ----T otal o f a ll.......... $3 961,403 $1,700,017 $31,248 $948,902 $300,000 $282,902
Poughkeepsie City&W applDsers Falls—
x T o D etroit U nited Ry. Co.
6,052
def.*905 def.*2,104
O c t 1 to Dec. 3 1 .. ..
10,010
6,105
*3,434
July 1 to Dec. 3 1 .. ..
*1,670
20,852
Revenue paseengprs, 76.850,789; transfer, 20,447,341; em ployes,
19,034 1,080,297; total, 98.378,427.
21.205
29,037
R och ester R y . ....... Deo.
29,135
302,061
131,672
228,755
301,138
Jan. 1 to Dec. 3 1 .. ..
T h e fo llo w in g is a s u m m a ry o f th e b u sin ess o f th e D e tr o it
115,885
164,350
t78,018
101,857
Twin City Rap. T r...D ec.
U n ite d R y . f o r th e y e a rs e n d in g D e c. 31:
Jan. 1 to Dec. 3 1 ----- 1921,717
1876,637 1,060,323
881,887

$

* Includes other incom e.
in clu d in g dividends on p referred stock.

ANNUAL REPORTS.
N erada-C alifornia-O regon R ailw ay.
( R e p o r t f o r the y e a r en d in g J u n e 30, 1 9 0 2 ,)
T. F . Dunaway, Vice President and General Manager, says:
D uring the year 8 1 m iles o f 40-pound steel w ere laid betw een D oyle
*
and Am edee stations, at a co st of $17,513, releasing the same am ount
o f 30 lb iron rail, valued at $ ,600. O wing to the increase in business
w hich will be received at Plumas Junction, Cal., due to the com pletion
o f the 8ierra T alleys R y.'into the tim ber belt o f Plumas O »unty, C*i . an
order has been placed fo r tw o locom otives, to be delivered during
M arch. 1903, and arrangem ents have been perfected to build 25
additional freight cars.
The extension from Term o to Madeline, Cal., (the present term inus)
a distance of 14 miles, was com pleted and opened for business on
A pril 1. 1902. The total coat to Jane 30, 1902, was $78,173. The
present terminus is n ot on ly nearer b y 14 miles to the p rodu cing
section o f C alifornia and Southern Oregon, b a t the ooutour o f the
country makes it m ore accessible. A large increase in the tonnage
can be expeoted, and esp d a l l y so with live stock, becauae o f the
natural advantages at M adeline and the superior facilities given it as
a shipping point.

The comparative statement of statistics, earnings and
expenses for the years ending Jane 30, 1901, and June 30,
1902, follow s:
OPERATIONS, EARNINQ 8 , ETC.
1901.
1902.
1902.
4 £.688 No. passen. carr’d . 11 /51
«0,334
T on s ca rried ............
2,702,476 Pass car’d 1 m ile ... 743.8 J
O
T on s car. on e m ile .2,565,9*9
*04012 R ev. p. pass. p. m .,cts. 014t0
R ev p. ton p. m., cts. *04234
1901.
E xpenses.—
1902.
Earnings.—
1902.
F reig h t ................... $108,643 $108.4 1 M a 'n te n a n c e W .& S . $;9,257
27,-71 M aint’nce o f e q u o ’t.. 14.378
P a s s e n g e r ................... 88,023
Conduct, transp’n .... 44,549
9,08
9,161
M i 1s ...........................
15,394
1,803 General e x p e n s e s
Express ......................
2,478
M iscellaneous............................6,0*9 4,998
T ota l .......................$103,579
T o ta l......................... $169,394 1151,680 Net earn in g s............$55,815
Deduct.—Int. on bon ds ($24,*0 1) and taxes paid 1901 ($5,221) 30,182
B alance surplus to profit and lo s s....................................... $25,638

1901.
8,619
546,414
•050U9
1901.
$22,840
13, 16
4 5, 77
14,890
$96,18*2
$55,65 j

1902
1901.
1900.
Mi es of all traok operated Deo. 31..
381
379
............
Revenue passengers carried..............71,891,137 62,822.749
............
Transfer passengers............................20.133.994 17,470,227
............
Employe passengers......................... 1,010,681
826,135
............
Aver receipts ppr passenger (oents)
*0363
*0354
............
do
do
do rev. pass, (cents)
*0459
*0i57
............
Car mileage..........................
18,016,870 16,080.041 15,233,410
Earnings per oar m ile........................
19 28
18 15
16*90
Expenses per car m ile.......................
10 92
9 93
9 45
Nnt earnings per car m ile........... . . .
8*36
8*22
7*45
Gro^s earnings................................... $3,473,140 $2,919,171 $2,575,276
Operating expen., including taxes.. 1,987.533 .598,765 1,439,057
Net earnings from operation___$1,505,603 $1,322, 03 $1,136,219
Income from other sonroes...............
2 8,6.4
23,067
14,559
Gross Income from aU sources..$1,534,222 $1,345,473 $1,150,777

D ed u ctio n s—

Interest on funded debt..................... $315,004 $675,344
Dividends.......................................... (4^)500 000 (4)-00,00J
Surplus in com e...............................

$219,218

$170,129

$638,317
............
$512,461

BALANCE SHEET DETROIT UNITED RY. DEC. 31 .
1901.
1902.
Assets—
$
$
In vestm en t ........ 28,920,433 28,403,701
2,499,367
941,251
Current assets—
19,169
Suspense accoun t
10,000
4,bH0
27.14'
Stores
—
..
72.500
Preu’d tax. & ins..
40.000
D iscount on bonds
176.691
2-\500
228,302
54,0 £9
C a s h .......................

1902.
1901.
Liabilities—
$
$
Capital s t o c k ........ 12,500.000 12,500,000
M ortgage b on d s.. 17.*80,000 15,8»0,000
Current liab ltl s.. 1,565.455
92 <,lo7
U nred’m ed tick ets
20,^84
22,231
A c cid e it,e tc.,fu n d
1,063
a,103
Surplus .........
. ..
444.-94
170,129

T ota l assets ... 31,921,100 29,498,630

T ota l liabilities.31,921,100 29,498,630

BVLA.NCE SHEETS OF CONTROLLED COMPANIES DEC. 31, 1902.
R a p id
Assets—
Ru.
In vestm en t — ...$4,618,791
1,309
Current assets.
25.612
S to r e s ............
Prepaid taxes, etc.
7,333
A ccid en t fu nd..
T o ta l............
—V . 76, p. 1301.

4 471

S. W . <c
S
Rapid
A. Ru.
Liabilities—
Ry.
$015,461 Stock .................... .$ 2,000 000
1,225 B on d s___ _____ _
3,325 Ilet. U nited R y ..
138,911
617 M iscella n eou s....
15.625
1,010 Surplus ................ .
37,9-18

S. W . A
4. Ry.
$297,000
14*',000
149,272
1,878
33,518

$621,668

$021,068

T o ta l............... .$4,657,524

THE CHRONICLE

J a n u a r y 31, 1903.]

M ilwaukee E lectric R ailw ay

L ight Company.

&

( S ta tem en t f o r y e a r ended D ec. 31, 1902.)

263

1902.
G ross e a r n in g s ...........$1,83 4 ,9 0 8
O perating e x p e n se s. 1,015,361

C alendar yea r —
1902.
Gross, ra ilw a y ......... . $2,302,514
434,807
L ighting, eto............

1901.
$2,032,208
385,226

1900.
$ 1 ,850,086
3 5 4 ,4 5 0

1899.
$1,668,963
327,643

N et ea rn in g s.........
F ixed o h a rg es.............
D ividends p aid............
Cost o f p a v in g ............

G ross earn in gs. .$2,737,321
O perating expen ses . 1,286,035

$2,417,434
k l,185.534

$2,20 4 ,5 3 6
1,129,786

$1,996,600
1,026,403

T ota l......................
Surplus.........................

N et earn in g s___ .$1,4 5 1 ,2 8 6
38,972
Other ln o o m e ...........

$ 1 ,2 3 1 ,9 0 0
24,907

$ 1 ,0 7 4 ,7 5 0
16,162

$970,203
10,533

T otal net In com e..$1,490,258
D ed u ct—
T a x e s ......................... . $123,179
406,634
I n te r e s t......................
Sinking fu n d _______
273,732
D ep reciation .............
D ividen d on p r e f___ (6)270 000

$1,250,807

$1,090,912

$980,736

$102,740
410,654

$87,451
413,213

241,783
(6)267,431

3 24,000
(6 )210,000

$82,497
401,185
120 000
204,000
(1*3)52,500

T ota l d ed u ctlon s.$ 1,073,545
B alan ce, su rp lu s.___. $4 1 6 ,7 1 3

$1,022,568
$234,239

$1,034,664
$5 6 ,2 4 7

$800,182
$120,554

The results for four years past compare as follows :

1902.
T otal receip ts o f railw ay ...$ 2 9 1 ,1 0 3
do
Of eleo. lig h t’g .A o . 6 3,699

1901.
$ 2 0 4,122
61,108

1900.
$ 2 3 8 ,8 3 6
5 3,926

1899.
$ 1 70,545
20,571

T otal gross re ce ip ts....... $354,702
O peratin g ex p en ses.............. 201,415

$ 3 2 5 ,2 3 0
196,439

$292,762
191,7 i 6

$191,116
132,124

N et ea rn in g s....................... $153,387
In terest paid on b o n d s .......... 104,278
T a xes, e t c ...................................
7,982

$128,791
9 5,376
7,317

B alan ce, su rp lu s............. $ 41,127
—V . 75, p. 77.

[$26,098

Toledo R ailw ays

&

$ 1 01,046
86,867
5,477

$5 8 ,9 9 2
50,000
4,364

$ 8 ,7 0 2

('R ep o rt fo r y e a r ended D ec. 3 1 ,1 9 0 2 .)
Albion E. Lang,
says in substance:

Chairman of

the board of directors,

In v ie w o f the im provem ents in tra ck and equ ip m en t m ade du rin g
the year 19< 2. and provid ed fo r in 1903, ana th e enlarged facilities
g row in g ou t o f the con stru ction o f the new shops and oar houses, it is
m y op in ion that we shall earn the cu rren t year n ot less than 3 p. o. on
the capital stook. W e are n ow su pplyin g the olty,w lch 1,167 street aro
lam ps, being an in crease o f 85 o v e r the previou s year, and are s u p p ly ­
ing cu rren t fo r 1*>7,663 in can d escen t lam ps, and ou rren t fo r 3,271
horse p ow er In m otors.
T he land bounded by Superior. H u ron and O range streets, purchased
fo r a cen tral term inal freigh t station, has been Im proved by the add­
ition o f another bu llaln g, and will p ro v e o f grea t value. R oad oonstruoted during the y- ar am ounted to 10*4 miles; rails relaid 1*2 m tles;
total, 11 % miles. No ex ten sion s in to new territory h ave b -e n made.
D ou ble tracks have been laid In several plaoes. D uring the yea r 20
open oars w ere placed in service; also ten d o s e d oars. Ten addition al
closed oars are under con tra ct, to be delivered this m onth. V ery little
rep airin g w as done during the year, o w in g to the v a ca tin g o f the
com p an y ’ s shops at M onroe and W ater streets on M ay 1, 1902. In
A ugu st w e purchased a b ou t 32 acres o f land finely situated, upon
w hich we h ave oonstruoted su bstantial briok bu ildin gs fo r rep a ir
shops, stock room , eto.
T here has been ex p e n d e d to date on this
Im provem ent $83,577.
D u ring the year an exten sion to the en gin e ro o m o f the p o w e r house
has been com pleted, and the large 3 ,000-5,000 horse p ow er en g in e
purchased o f A llis C om pany, and th e <2,000 k w. W estlngh >use d lreot
con n ected gen erator has been Installed. T w o large H eine boilers w ore
also in stalled du rin g the year.
F ive interurban roads now en ter th e oity under o o n tra o t w ith us
over ou r traoks, and a sixth interurban ro a d w ill en ter d u rin g
the year 1903.

The following is a comparative statement of the earnings,
charges, etc., for three years past:
„
1902.
G ross earn in g..................... $ 1 ,459,091
O perating e x p e n s e s .........
7 26,779

1901.
$1,311,084
636,407

19C0.
$1,182,516
616,944

Net e a r n in g s ......................
F ix ed oh arges.....................

$ 7 32,312
459,037

$ 6 7 4,677
3 55,167

$ 5 6 5,572
28 9 ,0 5 0

B alance fo r s to ck ..............

$ 2 7 3 ,2 7 5

$ 3 1 9 ,5 1 0

$ 2 7 6 ,5 2 2

Total bonded indebtedness $9,914,000, viz,, Toledo Rys. &
Light Co. 4s. $4,000,000; underlying bonds, $5,914,000. Capi­
tal stock, $12,000,000.— V. 75, p. 550.

Toronto R ailw ay.
( R ep o r t fo r the y ea r ended D ec. 31, 1902.)
President W m . Mackenzie says in substance:
There w as a v ery sa tisfa ctory Increase in the ea rn in gs o f the c o m ­
pany. th e gross earnings h avin g lnoreased $173,890. T hat th e state
m ent does n ot show a larger net reven ue than $ 5 0 6 ,4 4 3 , is a ccou n ted
fo r mainly by the higher prices paid fo r m aterial used In m a in ten a n ce
and repairs, by the abn orm a lly high prloe o f co a l, a v e ry large ioorea se
In wages o f em ployes In the severa l departm en ts, and a large o u tla y
o f m oney, occasion ed in the detection and punishm ent o f sy stem a tic
thieving, whloh w as dep rivin g the oom p an y o f a con sid era b le p o rtio n
o f its net revenue
The total ex p en ditu re on capital acoon n t during th e y ea r am ounted
to $191,656, which has been d ev oted to the purchase o f m otor e q u ip ­
ments and the con stru ction o f addition al m ileage o f traok, overu ead
system , new rollin g stook and buildings, to a ccom m oda te the lnoreased
business o f the oom p an y T he directors oon slder it ad visable to set
aside a portion o f ihe aooum ulated earn in gs fo r the pu rp ose o f provld
lng against heavy or special ren ew als, and Have a d op ted the p olicy o f
establishing an acoou nt fo r such con tin gen cies b y tran sferrin g $ 7 5 ,0 0 0
from the surplus to the oredlc o f a con tin g en t a ccou n t.
The shareholders at a m eeting held Oot. 6, 1 02, h avin g san ction ed
an increase in the oapital stook by $1,000,000, the dlreotors have
made an allotm en t o f 6,000 new shares, o a t o f the am ou n t au th orized,
whloh nave been subscribed In fa ll.
The oom pan y paid to the ol y o f T o ro n to du rin g the year, under th e
terms o f the franchise, the sum o f $255,551, as obm pared with $ 2 2 6 ,453 last year, and also paid the p ro v in cia l ta x lev ied under the
Revenue A ct.

The results for four years past and the balance sheet of
Dec. 31 follow:

$ 8 0 3,405
$ 2 92,679
2 7 0 ,0 0 0
68,000

$685,819
$ 1 3 3 ,7 2 8

$ 725,020
$321,818
240.000
64,0 0 0

$650,325
$217,455
240,000
64,000

$625,818
$99,202
BALANCE SHEET DEC. 31.

1902.
t

$ 6 3 0 ,679
$ 1 7 2 ,726

1901.
$

$521,455
$ 1 2 8 ,8 7 0

.10,835,707 10.675.138
. 108,555
49,428
A ccounts receiv. 362.304
227,995
able..............
97,152
87,378
O s h in bank..
22,107
15,1)8
Cesn In hand .

.11,425,910 ll.0S5.0k8

T o t a l................. 11,425,940 11,055,088

Colorado Fuel

&

Iron Company.

( R ep o rt fo r the y ea r en d in g J u n e 30, 1902.)
On pages 270 to 272 of to day’s C hronicle is published
President Kebler’s report, with numerous tables showing the
year’s operations.
The results for the year compared with tho3e of last year
were as fo llo w s:

$4,628

L ight Co.

$ 8 1 9 ,5 4 7
$ 3 1 3 ,1 0 5
3 02,439
70 ,2 7 5

1902.
1901.
Liabilities—
t
t
Capital ................... 0,208,414 6 ,000 .O 0
r
Bonds outstand’g.. 3,473,373 3,473.373
70,000
70,000
M o r tg a g e s ............
ei.577
Accrued interest .
58,431
A ccts and waives... 113,710
100,M
31
Unredeem’d tick ’s
12,925
11,903
3,420
Injuries fu n d ........
45«
U niform s................
77 438
D ividends...............
75,000
75,009
Contingent a c c t...
Profit and loss....... 1 273.507 1,265.514

Assets—

- Y . 75. p. 907.

The Milwaukee Light Heat & Traction Co. reports :

1901.
1900.
1899.
$ 1 ,6 6 1,017 $1,501,001 $1,3 35,542
8 57,612
775,981
685,217

GROSS AND NET EARNINGS.

.-----------Gross.----------- ,
1901-02.
190001.

Fuel departm ent.......... 6,683 952
Iron departm ent. 6,873,052
Denver retail departm’t
301,557
Pueblo retail departm’ t....................
Miscellaneous......
2,034

,------------ N et.-------1901-02. 1900-01.

5,589.353
960,100
969,233
6,266,877 1,014,955 1,333,088
347,483
25,999
34,262
38,171
............
814
4,662
2,034
4,662

T otal................13,860,595
12,246,546 2,003,088 2,342,059
Deduct m anagem ent.................................................
201,163
199,388
Balance to Income acoonnt................................. .
INCOME ACCOUNT.
1901-02. 1900-01.
$

1,801,926

2,142,671

1899-00.

1898-99.

$

Net earnings.......................1,801,926

$

$

2,142,671 2,349,682 1,094,675

Deduct—

Int on bds., less mleo. ino. 485,653
329,926 40**,019
369,460
T axes................................... 111,156
71,619
53,813
46,986
Sink and other funds, eto. 518,284
426,938 384,042
328,868
Interest and e x ch a n g e ......................
22,267
35,125
35,258
Dividends on pref. stook—
Current y e a r................ (8)160,000 (8)160,000
..................................
For previous years.........................
t480,000
*320,000
............
Total...............................1,270,093
Surplus.......................... 531,833

1,490,750 1,200,999
651,921 1,148,683

780,572
314,103

* Dividend 7, 8. 9 and 10—July 1 ,1 8 9 5 , to June 80,1897.
t Dividends 11 to 16 Inclusive—July 1 ,1 8 9 7 , to June 30, 1900.
Q u a r te r ly d iv id e n d s o f
p e r c e n t e a ch o n t h e c o m m o n
s to c k w e r e p a id J u ly 15 a n d O c t. 1 5 ,1 9 0 1 ;
p. c . J a n ., 1902,
a n d \ % p. c . A p r il, 1902.
GENERAL LEDGER BALANCE JUNE 30.
1902.
1901.
1900.
A ssets—

$

Real estate............................... 16,810.915
Mines developm ent..............
142,200
Royalties In advan ce......................
59,017
Equipment, all departm ents.2 0,253,824
Col. Fin. A Cons. C o ..........................................
Cash...........................................
408,469
Customers’ acoounts............. 1,032,223
Individuals and companies (net).
588,995
Bills receivable......................
245,455
Stocks, supplies and m aterials_ 2,289,050
Securities—stocks and bonds........
940,128
Col. A Wyo. Ry. C o............... 1,957,081
Crystal River R R ...................
314,118
Miscellaneous (lno. hospital dep’ t)
415,261
T otal a s s e t s ................................4 5 ,5 1 6 ,737
L iabilities—
C apital s t o c k (see I n v . Supp’ m’ t).25,931,000
B onds (see Supplement)................ 15,06 5 ,000
B ills p a y a b le .............................................................
U npaid v o n o h e rs............................... 1,232,405
U npaid fr e ig h t....................................
2 4 8 ,279
U npaid p ay c h e c k s ...........................
6 06,562
The C olorado S upply C o ..................
98,563
Sinking fu n d s...................................... 1,020.003
Fund fo r paym en t o f ta x e s ............
60 .000
B ond Int. (aoerned b u t n ot d u e ).320,123
D ivid en d a oorn ed ...............................
80,000
M iscellaneous ... .............................
326,161
In com e a ocou n t (su rp lu s)...............
528,641
T o ta l lla b lli'le s ...........................4 5 ,5 1 6 ,737
—V. 76, p. 2 1 4 , 161.

$

$

16,142,388 13,369,069
98,415
91,712
46,159
52,832
11,773,731 6,494,171
3,886,759
5,090,458
1,791,092
153,067
867,776
834.785
228,889
256,769
11,876
458,969
1,656,658 1,218,139
952.128 1,040,322
334.515
32,678
er. 170,161
........
77,030
54,163
37,196,255

29,146,646

25,000,000
5,995,000
536,400
705.318
193,628
450,065
269,663
1,478,394
35.000
146,572
80.000
209,740
2,096,476

19,000,000
5,993,000
141,750
270,034
60,975
393,798
189,100
1,176,035
24,000
141,077

37,196,255

29,146,646

231,533
1,525,345

American D istrict Telegraph Company o f New York.
( R ep ort fo r the y ea r ending Dec. 31, 1902.)
President Robert C. d o w r y says in substance:
The ta x e s fo r the yea r 1901, $ 8 ,2 6 2 , “ held o u t" o f the acoou nts o f
that yea r and paid in Jan uary. 1902, and a d ifferen ce o f $824 due to
errors o f a ccou n tin g , are oo v e re d b y rednolng the am ount o f the su r­
plus o f Deo. 31, 1901, to $78,729. For the pu rposes o f com p arison the
$8,262 has been added to the rep orted exp en ses o f 1901, and the re­
p orted receip ts fo r that yea r h ave been rednoed In the su m o f $6,509
to co v e r an a m on n t fo u n d to h ave b een Im properly taken as an earn­
in g ou t o f u niform aooount.
W ith the tlgures fo r the p rev iou s y ea r so oorreeted, the com parison
Is v e ry fa v o ra b le , e sp e cia lly in v iew o f the fa ot that d arin g the first
h a lf o f the last yea r the reoord s show a decrease o f $17,887 In the
net reoelpts, and that the oon d ltlon s sin ce h ave been d istin ctly un­
fa v o ra b le fo r a g o o d business. B y red u cin g the op eratin g exp en se
w h en ever It was p ossib le to do so w ith o u t im pairm en t, o f the servloe,

THE CHRONICLE

264

this loss has been ov ercom e, and a sm all Increase In th e net revenue
fo r the year Is shown.
A n exam ination o f the p lan t sh ow s that it.reqn ires ov erh a u lin g , and
th ere la n o d on bt th at the failu re o f ca lls to register has been a fru it­
fu l cau se fo r oem p laln t, and has resu lted In the loss o f con sid era b le
business. The w ires are being r e r u n and new b o x e s Installed but
th e w ork w ill be d on e gradually In the h ope that the oost m ay b e paid
ou t o f th e earnings and the surplus w ith ou t affectin g the usual
d ividen d s.

The earnings, etc., have been compiled as follows:
EARNINGS, EXPENSES AND CHARGES.

1902.
R even u es, all souroes......... $610,043
O peratin g exp en ses, e t c . . . 5 13,176

1901.
$ 6 2 4 ,1 9 3
53 5 ,5 4 4

1900.
$ 5 9 0 ,5 3 6
5 0 3 ,6 9 0

1899.
$ 6 2 9 ,7 5 2
5 2 5 ,5 7 2

N et ea rn in g s................. $ 96,867
$ 8 «,6 4 9
$ 86,846 $ 1 0 4 ,1 8 0
D iv id e n d s..............................(2)7 6 ,8 8 6 (2 ^ )9 8 ,1 0 7 (2 1 4 )8 6 ,4 9 7 (214) 86,497
B alan ce, sn rp lu s........... $19,981 d e f.$7,458
P reviou s su rp lu s.................. 78 ,7 3 0
80 ,5 0 3

$31 9
8 0 ,1 5 4

$ 17,683
62,471

T ota l surplus Deo. 3 1 .. $98,711
M iles w ir e s .............................
1,552
O ffices......................................
85
I n s tr u m e n ts ............... .
27 ,9 4 0

$ 30,503
1,537
86
2 7 ,9 4 3

$ 80,154
1,510
85
27,986

$ 7 3 ,0 4 5
1,548
85
27 ,9 0 5

BALANCE SHEET DEC. 3 1 , 1 9 0 2 .

Assets—
P lant, f r a n .p a t ’ts.stk s.
m erged oomDa’s, e to.$ 4 ,0 1 8 ,8 6 5
S tocks < bon d s o f cos.
fe
n ot m erged ..................
*235,700
Supplies, lnol, u n iform s
21,413
S undry aoots. r e o e lv ...
46 ,4 8 7
A d v a n c e s ........................
746
Due from m an agers___
22,241
Due fro m a g en ts...........
2,023
Cash In trea su ry ...........
18,725
T ota l assets

$ 1 ,3 6 8 ,2 0 0

L ia b ilities—
Capital B took ................. $ 3 ,8 4 4 ,7 0 0
S undry aooou nts p a y ­
a b le ................................
7 ,2 6 0
C ontin gent lia b ilities..
5 ,9 4 0
5 0 8 ,3 0 0
P rofit and lo ss................

T ota l lia b ilities....... $ 4 ,3 6 6 ,2 0 0

♦Includes 1,760 shares stock Holm es Elec. P rotec. Co., $175,000; 1,760 shares
stock Dist. Tel. Co. o f Boston, $ H ,' mio; 65 shares stock Am . Dist. Tel. Co., $ 5,600: 12 shares stock Am. Dist. Tel. Co. o f N. J.. $1,800; 10 collateral trust bonds
W estern Union Tel. Co., $10,0j0; total, $235,700.—V, 76, p. 214.

Consolidated Gas Co. o f New York City.
(S ta te m e n t f o r y e a r ended D ec. SI, 1 902.)

Monongahela R iver Consolidated Coal

The statistics furnished by President Gawtry permit of the
following comparison for the years 1902 and 1901:
Output.
1902.
1901.
In crea se. P. et.
Gas, cu b ic f e e t ....1 8 ,3 5 8 ,4 7 8 ,0 0 0 16,443,0 0 0 ,0 0 0 1 ,9 15.000.000 11-65
E leotr’ty k ilow a tts
8 8 ,3 7 0 ,0 0 0
74,656,000
13,714,000 1 8 8 7
E arn in gs.
N et o v e r in te re s t..
$7,93 2 ,0 0 0
$ 7 ,3 2 8 ,0 0 0
$ 6 0 4 ,0 0 0 8-24
D ivid en d s, 8 p. o ..
5 ,832,000
5 ,e 28,000
4 ,0 0 0 .........
8 ur fo r yr.. ap p rox.
2 ,100,000
1,500,000
6 0 0 ,0 0 0 40-00
V ariou s Statistics.
M iles o f gas m ains
on Deo. 3 1 ...........
1,783
1,740
43 2*47
N um ber o f gas m e­
ters on Deo. 3 1 ..
5 56,063
5 23,597
22,466 4-29
P aid during year
fo r rep a irs...........
$1,335,424
$ 8 9 5 ,0 0 0
$ 4 4 0 ,0 0 0 49-16
C harged o ff fo r d e­
p recia tion ...........
744,434
7 0 0 ,0 0 0
4 4 ,0 0 0 6-28
Ch’ged o ff fo r ta x es
lnol. f r ’nohlse ta x
1,755,685
1,670,195
8 5 ,4 9 0 5-12

The last balance sheet of the company made public, v iz,,
that of Jan. 1, 1901, was given in V . 72, p. 436,
The balance sheet of the New York Edison Co., whose stock
is practically all owned by the Consolidated Gas Co. furnished
to the New York Stock Exchange in connection with the
listing of $3,500,000 additional bonds of the New York Gas
& Electric Light, Heat & Power Co. (see Consolidated Gas
Co. on a subsequent page), was as follows:
BALANCE SHEET OF NEW YORK EDISON CO. NOV. 80, 1902.

Assets—
P lan t, p rop erty , e t o ..$87,5 0 4 ,7 4 2
Treasury b o n d s...........
107,890
T reasu ry s to c k .............
149,000
A oooun ts r e c e iv a b le ..
1,786,368
331,941
S u p p lies.........................
C ash ................................
271,622

T o t a l ........................... $90,1 5 1 ,6 6 3
- V . 75, p. 188.

L ia b ilities—
C apital sto c k .................$ 4 5 ,2 0 0 ,0 0 0
F irst m tg. b o n d s ......... 1 1 ,500,000
Puro. m oney 4% b on d s 21,000,000
E dison E leo. III. Co.
ca p ita l s to o k .........
29,671
F irst m tg. b o n d s ___
4 ,3 1 2 ,COO
C onsol m tg. b o n d s ..
2 ,1 8 8 ,OoO
Mt. M orris E leo.L t.C o.
b on d s .........................
9 8 8 ,0 0 0
R ea l estate m tg s .........
1 5 5 ,0 0 0
Guar, dep s., res., e t o ..
143.450
B ills & a co’ ts p a y a b le
2 ,012,605
P rofit and lo s s ...........
2,622,837
T o t a l ............................$30,1 5 1 ,5 6 3

Co.

& Coke

(R e p o r t fo r the y e a r ended O ct. 31, 1902.J.
President J. B. Finley says in substance:
C o a l L a n d s —T he p o licy o f th e oom p a n y Is n o t to ln orease Its h old ­

ings o f ooal lands, believ in g this to be a m ore econ om ica l and profit­
able p olicy than the accu m u lation o f a la rg e acreage, th ereby Increas­
ing Interest charges and ta x es, w h ile b y pu rchasin g a sufficient num ­
ber o f acres each yea r to re p la ce that m ined, and thas m aintaining the
original acreage, w h io h ls sufficient to last the com pan y 40 years at
the present rate o f p rod u ction , sufficient reserve a creage is p rov id ed
and w ill be m aintained. The ro y a lty ch arged fo r all ooal m ined is at
the ra te o f $560 p er acre, whloh prioe has p rov en sufficient to replaoo
the aoreage m ined o u t each y ea r and also to p rovid e a sinking fo n d
w hich w ill p a y th e m ortga ge b on d s b e fo re m aturity.
T o-aay the oom p an y has b a t 16 acres less eoal on the M onongahela
R iv er than w hen lt com m en ced business O ct. 1 ,1 8 9 9 , and in addition
has paid from said roy a lty $ 5 32,000 on its bonds, th ereby redu oin g its
b on d ed debt from $10 0 0 0 ,0 0 0 to $9,468,000.
F unding.—On Oot. 31, 1901, th e cu rren t d ebt o f the oom p an y was
$3,510,751. This w as m ade n ecessa ry by reason o f the m agnitude o f
the business, requiring the oarryln g o f llqald or cash assets, con sistin g
o f acoonnts and bills receiv a b le, ooal and supplies on hand and oash
am ounting to betw een $ 5 ,0 0 0 ,0 0 0 and $ 6 ,0 *0,000, while the oash
w orking oapltal provid ed w hen the com p a n y was organ ized w as but
$1,000,000. It w as thought unw ise to h ave suoh a large floating or
current debt, and on Deo. 3 1 ,1 9 0 1 . y on r board o f d irectors author­
ized the Issue o f $3,000,000 o f certificates o f Indebtedness, o f the de­
nom ination o f $*>,000 each, to be dated Jan. 1, 1902, bearin g 5 p eroen t
interest, free o f ta x , p a ya b le Ju ly and Jan uary. The principal p a y ­
able ($200,000) on the first day o f January eaoh year thereafter, both
p rin cipal and in terest p ayable at the U nion T rast Co. Tw o m illion
and six ty thousand dollars w ere sold to m em bers o f y ou r oom p an y a t
par, the rem aining $ 9 40,000 b ein g in the ou stod y o f the U n ion Trust
C om pany, h a vin g n o t y e t been offered fo r sale.
C o r o n a C o a l & I r o n C o .—D uring the fall o f 1900, ow in g to the
lon g oontlnued low w ater, y o u r oom p an y w as unable to ship sufficient
ooal to New Orleans to su p p ly Its oontraots, and was com p elled to
p u rch a se som e 2 .0 0 0 ,0 0 0 bushels o f A labam a ooal. This suggested
the desirability o f the oom pan y acqu iring an A labam a co a l p rop erty .
A fter a th orou gh e x p e rt ex a m in a tion o f the p rop erty n ow ow n ed b y
the C orona Coal & Iro n Co., y o u r oom p an y purchased all bu t o n etw elfth o f the cap ital stock o f said oom p an y. T he p rop erty con sists
o f 20,000 acres o f ooa l lands In W alker cou n ty , A labam a, w ith fo u r
operating m ines, m iners’ houses, store buildings, eto. The ou tp u t fo r
th e past year w as 337,101 tons. The op eration Is p rofitable, an d,
aside from its b ein g a p ro te ctio n to o u r N ew O rleans trad e, Is a g o o d
inv estm ent.

The earnings, expenses and the balance sheet follow:

A t the annual meeting on Monday, President G aw try said:
T he year Just ended has b een a try in g on e fo r the co m p a n y ; the
w ork s, both gas and eleotrio, h a v e been run u p to their fa ll ca p a city ,
and It is a eon rce o f co n g ra tu la tion that the com p a n y has been able to
m eet the dem ands m ade upon It. The s ca rcity o f fu el cau sed m uch
a n x iety , as at tim es during the la st tw o o r three m onths the re q u ire ­
m ents ran u p as high as 3,5 0 0 ton s a d ay, fo r w hloh, in m ost oases,
high prices h ave had to be paid, as a ll co n tra cts w ere suspended d u r­
in g the strike. T here w as Im ported ea rly in the sum m er a q u a n tity
o f W elsh coal, w h ich helped o a t the situation to a'great degree. Is w as
a seri >us qu estion at one tim e w hether a ll the su p p ly o f gas requ ired
cou ld be supplied, som e days the con su m p tion ru nn ing v e r y near 80,000,000 cu b ic feet. While it Is too ea rly to g iv e the e x a c t figures, the
net profits, after the pa ym en t o f dividen d s, w ere $2,10 0 ,0 0 0 , a g a in st
$1,500 00 0 the previou s year.
The sales o f gas in the yea r in creased to 11 -65 p er oen t o v e r the p re­
v iou s year. The lnorease du rin g the last three m on th s o f th e yea r
ran as h igh as 20 per oent, and in som e d istricts to 30 p er cen t, o v e r
the corresp on d in g p eriod o f th e p rev iou s year. The lnorease in
th e oost o f m aterials darin g th e y e a r a m ou n ted to $ 4 4 0 ,0 0 0 . T he c o m ­
p an y sold 42.632 gas ranges, stoves, heaters, eto., during th e y ea r.
T he ou tp u t o f eleotrioity during the yea r in creased 1 8 % per oent.
T h ere w as an lnorease in th e num ber o f users o f ele ctricity d a rin g the
y ea r o f 4,700. The com p a n y has 7,639 em p loyes and du rin g the y ea r
has paid out $18,916 fo r pensions and to benefit societies. T he c o m ­
p an y has sold ooal to Its em p loyes a t lo w rates. The oom p an y Itself
con su m ed 947,743 ton s, an a v e ra g e o f 2,6 0 0 ton s a day.

[V o l . LXXVL

EARNINGS FOR YEARS ENDING OCT. 31.

1902.
1901.
E a rn in g s........................................................................ .$ 2 ,6 5 3 ,8 0 9 $ 2,563,300
Less—M alnt. and repairs on riv e r o r a ft.............. $ 4 8 4 ,7 3 1
$208,291
287,155
315 ,4 7 4
D ep recia tion on riv e r c r a ft, e to ...........................
R o y a lty on ooal m in ed *.........................................
433,126
402,500
56 8 ,7 4 0
5 7 9 ,0 6 0
In terest on bon ds p a id ...........................................
D ividen d, 7 p. c. on p referred stook...................
700 ,0 6 0
696,605
T o ta l.........................................................................$4,4 7 3 ,7 5 2
N et b a la n ce fo r y e a r .................................................. $180,037

$2,201,930
$361,374

‘ U sed p a rtly fo r red em p tion o f bon d s an d p a rtly re-in vested In
p rop erty.
BALANCE SHEET OCT. 3 1 .

1901.

A ssets—
1902.
Oash on hand and In b a n k s ...
$ 3 1 3,892
A coonn ts and b ills re ce iv a b le . 2,957,168
C o a lo n h a n d ................................. 1,822,971
Supplies on hand ........................
813,475
Offloe fu r n itu r e ...........................
12,862
S tocks o f oth er co r p o r a tio n s ..
4 22,050
I n v e s t m e n t s ....................
38,685,611

1900.
$26 9 ,2 3 5
1,442,743
1,576,406
326,679
10,736
262,050
38,151,309

$333,425
2,363,634

1,828,629

671,382
13,621
246,788
38,354,434

T o t a l .........................................$ 4 5 ,0 28,029 $43,811,812 $42,039,158
L ia b ilities—
P referred s to c k ............................ $ 9 ,9 95,000
$9,965,000
$9,915,000
C om m on stook .............................. 2 0 ,000.000 20.009,000
20 ,000,000
9,4 7 9 ,0 0 0
B onds and oerts. o f Indebt’ as. x l l 5 28,000
9,479,0 0
2,149,471
Current d e b ts......... ....................
2,467.931
3,510,751
U n divided p rofits........................
1,037,098
857,061
495,687
T o t a l....................................... $ 4 5 ,0 2 8,029

$43,811,812

$42,039,158

x E x clu siv e o f $ 5 3 2 ,0 0 0 oa n celed fo r sin k in g f o n d —Y . 76, p. 215.

Pressed Steel Car Co.
(R e p o r t f o r the y ea r en d in g D ec. SI, 1902. J

The

results for three years past and
Dec. 81 for two years are as follows :

the

balance

sheets of

1902a
1901.
1900.
P ro fits................................................$ 4 ,5 7 8,114
$1,9 2 7 ,9 2 5
$2,076,"l81
Deduct
D e p re cia tio n .................................
$ 3 0 0,000
$ ’ 43,635
.........
D ividen ds on p ref. s to o k .......(7% 1$875,000 (7% )$875,000 (7% 1$875,000
D o. on c o m m o n ........... .....
(4 % )6 0 0 ,0 0 0 (4% )500,000 (4% )500,000
B alan ce, Isurplus....................

$ 2 ,9 0 3,114

$40 9 ,2 9 0

$700,181

The surplus for the year 1902 ($2,908,114) was added to the
total surplus of Dec. 81, 1901 ($1,700,171), and from the total
was deducted “ charges pertaining to previous years” ($271,806. against 8521,403 in the previous year), making the total
surplus as of Dec. 31, 1902, $4,331,479 as shown below.
BALANCE SHEET DEC. 31.
1902.
Assets—
$
Prop and franch. 25,915,603
A dd ition sto plant .............
Stocks owned ... 1,394,030
Taxes and ins. not
accrued...............
262
A cc’ cts rec’ vable 1,831,085
Materials on h ’nd 4,509,627
Cash....................... 3,728,569
onr o
, u, a l.......................... rrn
- V . 75, p. 1305.

i na

1901.
t
25,815,832
441,771
139,000
l a,366
1,813,596
4,898,273
1,301,728
qa

ooq

naa

Liabilities—
Common sto ck ...
Preferred stock ..
1st M . gold notes.
Purch. m u. M ...
A ccounts payable
A c c ’d sal A wages
A c c ’d d lv ’ds pref.
Accrued interest.
S u rp lu s................
T o ta l................

1902.
l

12,500,000
12,510,000
4,1 (4 ,00
310.000
3,067.134
257 864
218.750
90.429
4,331,479

1001.
t

12,500,000
13.600,000
5,000,000
-35,000
1,838,791
176,987
21S.750
108,867
1,700,171

37,379,176 34,228,586

January 31, 1903.J

GENERAL IN V E S T M E N T

THE

CHRONICLE

265

NEW S.

C olorad o & Southern R y.—L u te d .—The N ew York Stock
! Exchange has listed $300,000 additional first m ortgage 4 per
cent bonds o f 1929, m aking the total am ount listed to date
RAILROADS. INCLUDING STREET ROADS.
Albany & Hudson Railway & P o w e r Co.—Sale.—The fore­ $18,650,000.
E arnings.— F or the 5 mos. ending N ov. 80 earnings w ere:
closure sale is set for Feb. 11 in the Court-house at Hudson,
5 m o n th s —
G rose.
N et.
O t\. in c o m e . C h a r g e s . B a t., s u r .
N. Y . See reorganization plan in V. 75, p. 847.
1902............... $2,648,203 $674,737
$1,683
$102,058 $274,312
..................................................
B a llston T erm in al R y.—Y o Receivership.—President Thos, 1901................ 2,377,987 653,393
F. Barrett informs us that the report from Ballston Spa that - V . 75, p. 607.
Des M oines City ( l a .) R R .—Bonds.—The com pany has sold
the com pany has been placed in the hands o f a receiver by
Justice Stover of the Supreme Court is not true. “ The road $150,000 refunding m ortgage 5 per cent gold bonds to N, W .
is not in the hands o f a receiver; the A tlantic Trust Co., Harris & Co., to provide for the acquisition o f additional
never floated any bonds o f the com pany, as stated in the des­ cars and power facilities, double track, etc.— V . 75, p. 611.
patches referred to, and never had any relations with it ex ­
ErauBville & Terre Haute RR.—New Equipm ent.—T he
cept to act as mortgage trustee. A s to the action begun on com pany has purchased 1,100 new cars and has funds on hand
the receiver’s certificates, the same was prom ptly discontin­ sufficient to pay fo r the same. The directors recently auth­
ued by the certificates being taken up and cared for by the orized the issue o f $250,000 general m ortgage 5 p. c. bonds of
stockholders o f the com pany.” — Y . 74, p. 266.
1892. No arrangements have been made fo r the sale o f these
B a ltim ore S parrow s P o in t & Chesapeake R y.— See bonds, but whenever they are sold the proceeds w ill g o into
the com pany’s treasury. —V. 75, p, 979.
United Railways & E lectric Co. b elow .— V. 76, p. 211.
B oston E levated Ry.— W ages.— See “ W a g e s” below .— V.
F loren ce & Canyon City (C o l.) E le ctric S treet Ry.— M ort­
gage.— A m ortgage has been filed to the Eastern Trust Co. o f
76, p. 99.)
B ro o k ly n R ap id T ra n sit Co.—Yew Officers.—A t the an­ New Y ork, as trustee, to secure $2,700,000 o f 5 p. c. $1,000
nual meeting yesterday E dw in W . W inter, form erly Presi­ gold bonds dated Jan. 1, 1903, and due Jan. 1, 1928, interest
Stock $500,000 in $100 shares.
dent o f the Northern Pacific R y ., was elected a director to payable Jan. 1 and July 1.
succeed Jacob L. Greatsinger, who, it is announced, w ill The plan is to build an extensive system o f electric railways,
retire from the presidency. Norman B. Ream, o f Chicago, aggregating, it is said, 125 miles o f track connecting the
was also elected to the board to succeed A ugust Belm ont. cities and towns in the valley o f the Arkansas R iver, adja­
cent to Florence and Canyon City, Col. Officers; President,
The directors now include:
One year term—John G. Jenkins, Horaoe C. Duval, R. 8omers Thos. R obinson; Vice-President and Treasurer, Harley A .
Hayes, David H. Valentine. Two years—Norman B. Ream, Edwin W. C ook; Secretary, Harry R obinson; office, Florence, Col.
Winter, Henry Siebert, T. 8. Williams. Three years—A. N. Brady, H.
Fonda Johnstown & Gloveravllle RR.—Yew? Bonds.— T he
H. Porter, E. H. Harrlman, W. O. Oakman and A. R. Flower.—V. 78,
“ first consolidated refunding m ortgage” recently authorized
p. 101, 47.
Canadian Northern Ry.— Possible D eal.—See Great N orth­ secures $7,000,000 o f 4% P- c - gold bonds dated N ov. 1, 1902,
and due N ov. 1, 1952, but su bject to call for paym ent at 120
ern R y. o f Canada below .—V . 75, p. 1398.
on any interest date. Interest payable May 1 and N ov. 1 at
Chesapeake & Ohio Ry.— Offering.— Blair & Co. are offer­ office of New Y ork Seourity & Trust Co., the m ortgage trus­
ing, at prices to yield 4% p. c. interest, $600,000 o f 4 percent tee. Sinking fund, none. The present issue under the m ort­
equipment m ortgage $1,000 gold notes, part o f a total issue gage will be about $4,000,000, to retire A m sterdam 8treet
o f $1,000,000, dated Sept. 1, 1902, and due $50,000 each six R R . bonds and to meet the cost o f building the donble-track
months beginning Maroh 1, 1903, to Sept. 1, 1912, inclusive. trolley road now under construction from Johnstown to Sche­
See V. 75, p. 562.— V. 75, p. 611.
nectady, together w ith pow er house and other im provem ents.
Chicago Burlington & Quincy RR.— Called Bonds.— Den­ There is reserved fo r prior liens $1,850,000.—V . 76, p. 218.
ver Extension 4 per cent bonds due Feb. 1, 1922, to the
Grand Trank Ry.—See Great N orthern R y. o f Canada
amount o f $92,000 in bonds o f $1,000 each and o f $2,400 in below .— V. 75, p. 1354.
bonds o f $100 each have been called and w ill be purchased at
Great Northern Ry. of Canada.— R eported Sale. - I t is
par on presentation to the N ew England Trust C o., Boston,
on Feb. l,fr o m which date interest will cease.—V . 75, p. 1358. understood that negotiations are well advanced fo r a con ­
Chicago City Ry .—Protective Committee.— A com m ittee solidation o f this road w ith the Canadian Northern. T he
consisting of James B. ForgaD, Ernest A . Q am ill, Byron L, latter, in connection w ith the Canada A tlantic and the
Smith, Nelson Morris and L. Z. Leiter, in view o f the re Great Northern o f Canada, would form a through lin e from
ports which are “ being circulated to the effect that parties W in n ipeg to Quebec.
It is reported from M ontreal,Que.,that W illiam M ackenzie,
w ho do not now control the com pany are seeking to obtain
the ownership or control o f a m ajority o f its stock,” and be­ one o f the prom oters and builders o f the Canadian Northern,
lieving that “ the greater part o f the stock is still held by has gone to England w ith a proposition from the Grand
parties w ho are opposed to any hasty action and w ho desire to Trunk Pacific people to purchase the Canadian N orthern .—
co operate with the present m anagem ent,” request the share­ V. 75, p. 1352.
Guatemala Northern RR.—Status.— James M cNaught,
holders to sign a preliminary protective agreement which
has been deposited with the Northern Trust Co. o f Chicago. President o f the Central Am erican Im provem ent Co.p 35
(See Chicago Union T raction Co. in V . 76, p. 157, 211.)—Y. Nassau Street, New York, w h ich is building this road,
makes the fo llo w in g statement :
75, p. 1085.
The road will extend from Puerto Barrios to Guatemala City, a dis­
Chicago & Eastern Illin ois R R .— Deposits.— The tim e fo r
The line has been oompleted
Barrios
the exchange of com m on shares fo r 10 p. o. stock trust ce rtif­ tance of 202 miles. miles, and is surveyed fromfrom Puerto point to
to El Rauobo, 185
the latter
icates of the St. Louis & San F rancisco, and o f preferred Guatemala City, 67 miles. Tbe contract for this 6 ' miles has been let
shares for 6 p. c. stock trust certificates o f that oom pany. has to James P. MoDonald Oo. of 35 Nassau 8 t., New York. The road is
w l’ h maximum
cent, and
been extended until Jan. 31. Of the total issue o f 73,178 narrow gauge, rails. a Tbe road lagrade of 3 perdo a heavyIs to be laid
with 56-pound
expected to
business in
shares o f com m on stock, 70,700 shares have accepted the mahogany, lumber and bananas, and when oompleted It will form, in
proposition, and 41,435 shares o f the preferred out o f 68,307. connection with the Guatemala Central (V. 68 , p 724), a new transisthmian line. J. A. Snyder, Vice-President, New Orleans, La.
—V. 76, p. 101.
There are $4,000,000 R epublic o f Guatem ala 6 per cent
C hicago G reat W estern R y.—Interview. — V ice-President
Oppenheim arrived from England on Jan. 24, and is quoted bonds which are a first lien on the road, and w hich have been
deposited with the United States Mortgage & Trust Co. to
by the “ New Y ork H erald” as saying:
We know that there are interests whioh covet the Ohloago Great secure $2,000,000 o f 8-year 6 per cent bonds. Issued by the
Western, and If any such Interests oare to make what we oonslder an railroad com pany. The proceeds from the sale o f the latter
advantageous offer we shall be able to deliver the property. While I will be used to com plete the line. The com pany has $5,000,was abroad S' me one In this olty said that I had the oontrolof the road 000 capital stock.
In my valise and was bringing It over to Amerloa. That was about
right. But 1 didn’ t goto London with the purpose of fixing np matters
H ock in g T a lle y R y.—Listed.—The N ew Y ork Stock E x ­
so that we oould dispose of the railroad or anything of that sort. I
went to arrange the finances of the oompany and get money for ex­ change has listed $160,000 additional first consolidated m ort­
tensive contemplated Improvements, and In that 1 have been an oess- gage one-hundred-year 4% per cent bonds o f 1999, the pro­
fnl. All the fiuanotal arrangements for bnlldlng the Omaha and Sioux ceeds o f w hich have been used in retiring 6 p. c. car trust
City extensions were made long ago, and the work will be pushed as bonds, making the total listed to date $11,397,000.—V. 75, p.
rapidly as possible.—V. 76, p. 157, 47.

1301.
Chicago & Southeastern R y.—Sale Feb. 19.—The fore­
Indianapolis Slielbyville & Southeastern Traction Co.—
closure sale is advertised fo r Feb. 19 at Anderson, In d .; Bonds Offered.— Denison, P rior & Co. o f Boston are offering
upset price $1,000,000.— Y. 76, p. 48.
at 102 and interest $200,000 o f the $500,000 first m ortgage
Cleveland & Southw estern T ra ctio n Co.—Securities, Etc. sinking fund 5 p. c. gold bonds, due 1932.—V. 75, p. 10S6.
—This consolidated com pany’s m ortgage is made to the
Iowa & Missouri R y.—D irectors.—John W . Gates, John
Federal Trust Co. of Cleveland, as trustee, and secures Lam bert and J. J. M itchell have been elected directors o f
$3,000,000 of 5 p. c. $1 000 gold bonds, dated Feb. 1, 1903, and this com pany, a subsidiary organization o f the Iow a & St.
due Feb. 1, 1923, but subject to call on or after Feb. 1, 1918, L ouis.—V. 75, p. 1087.
at 105; interest payable Feb 1 and A ug. 1 at the office o f
Iow a & St. L onis RR.— Gates In terest.—See Iow a & Mis­
trustee. Of the new bonds $1,700,000 are reserved to retire
prior liens outstanding. The new mortgage covers 130 miles souri Ry. above.—V. 75, p. 1399.
of track, being a first lien on the 40 miles o f the form er
Lake E rie A llia n ce & W h eelin g R R .—Change in C ontrol.
Cleveland & Southern. The capital stock authorized is —Tbe Lake Shore & Michigan Southern Ry. Co. has pu r­
$5,000,d0o, of which $2,000,000 is 5 p. c. cum ulative preferred; chased control o f this road, w hich extends from Phalanx. O.,
present issues $3,060,000 com m on and $1,800,000 preferred; on the Erie R R ., southerly to Dillonvale, O., on the W heeling
par of shares, $100. A. H. Pom eroy is President; E F. & Lake Erie R .R , a' distance o f 88 miles. The purchase
Schneider, Secretary; F. L. Pom eroy, Treasurer. Office 614 includes all the stock o f the L. E. A . & W . R R . Co., all the
Garfield Building, Cleveland.—V. 76, p. 212,
1stock o f the L. E. A. & W , Coal Co. and 51 per cent o f the

TH E

266

CHRONICLE,

stock of the Jefferson Coal Co.; also other properties and
lands. There will be no “ merger.” The bonds were can­
celed by the trustee and cremated. The Lake Shore recently
negotiated a lo in of $2,000,000 from the Cleveland
Trust Co., it Is surmised in connecton with this trans­
action. The following directors were elected :
W. K. Vanderbilt, H. MoK. Twom bly, F. W. Vanderbilt. C. M. Depew, W. H. Newman, W. C Brown and E. D. W orcester of New York,
and George O. Greene and E. A. Handy o f Cleveland.—V. 75, p. 981.

[VOL. LXXVI.

West of Pittsburgh there is a large amount o f double-tracking to he
done on ihe Fort Wayne Cleveland & Pittsburgh and Panhandle roads
and the Fort Wayne traok has also to be elevated through Allegheny
City. These are only some of the Improvement pieoes of work which
have to be taken eare of by the com pany during the year, and which
will be fully explained whan Its annual report is made to the share­
holders.
The various companies east and west o f Pittsburgh Interested in
these pieoes of work will, o f course, deolde upon and oarry into effect
the plans for permanently financing the oost of these enterprises.—V.
76, p. 21 3,15 9.

Lake Shore & Michigan Southern ity.—P u rch a se.— See
Philadelphia & W est Chester Traction Co.— Official
Lake Erie Alliance & Wheeling RR. above.—V. 76, p. 158. 102. Statem ent. -P r e s id e n t A . M erritt T a y lo r has fa v ored us w ith
Lake Street Elevated RR., Chicago.—E a r n in g s .— The re­ the fo llo w in g :
The new mortgage of $600,000 securing an issue o f $600,000 o f
sults for the year ending Dae. 81 were :

Year.
Gross.
1902........................$815,281
1901........................ 786,462
—V. 75, p. 1087.

Net.
$384,993
397,663

Charges.
$411,905
391,459

Balance.
del. $26,9 12
sur.
6,204

Lehigh Talley R R .—N ew Officer.— J. A. Middleton has
been elected Second Vice-President in charge of the financial
and accounting affairs of the company and of its purchasing
department. His office will b e a t 228 South 3rd St., Phi!a
delphia, and the Comptroller, Treasurer and Purchasing
Agent will report to him.—V. 76, p. 212, 102.
Long Island RR.—L isted . —The New York Stock Ex­
change has listed $100,000 additional unified mortgage 4 per
cent bonds of 1949, issued on account of improvements, new
equipment, etc., from Mar. 1, 1899, to June 80, 1902, and
making the total listed to date $6,860,000.—V. 76, p. 158,
Louisville Anchorage & Pewee Valley E lectric Ry.—
C hange o f N am e.— N ew S to ck . —This company has filed
amended articles of incorporation changing its name to the
Louisville & Eastern RR. Co., and increasing its authorized
capital stock from $350,000 to $1,250,000, of which $350,000 is
5 p. c. non comulative preferred. The indebtedness is limited
to $1,500,000. The company is empowered to build from
Shelby ville to Frankfort, to Eminence, New Castle, Mount
Eden, in Anderson and Spencer counties, and to a point on
the Kentucky River in Henry County. An extension from
Anchorage to Shelby ville is under construction, and it is
thought will be in operation within the year. President Per
cival Moore says it is proposed to bnild successively all of the
lines mentioned in the amended articles. See V. 75, p. 1802.
Louisville & Eastern R R .—New N am e. —See Louisville
Anchorage & Pewee Valley Electric Ry. above.
Missouri Kansas & Texas R R —Now,’ a T enant — See
Terminal Railroad Association of St. Louis below.—V. 76,
p. 102, 48.
New York Central & Hudson R iver RR .— le r m in a l
C h a n ges.—T h e plans for the enlargement of the terminal fa­
cilities in this city and the consideration to the city were
substantially agreed upon on Jan. 20 by a committee of
the Board of Estimate and representatives of the company.
Both plans and terms were practically the same as proposed
at a recent meeting of the Board of Estimate. (Vol. 76, p.
48; V. 75, p. 290, 240; V. 74, p. 776, 151.)
It was decided that the city should bear part of the risks
o f damage suits in consideration of the company agreeing to
carry its road under St. Mary’s Park, in The Bronx, by
means of a tunnel, and to surrender the old roadway to the
park. This plan will do away with about half a dozen grade
crossings. The agreement provides ;

4 p . c. f-O-year gold bonds was created for the follow ing purposes
(1) To provide for the redemption of the present issue of $400,000 of
5 p o. bonds, which are redeemable at any time on three weeks notice
at 105 and accrued interest; ( 2 ) to provide for the funding o f the pre­
sent floating indebtedness ; (3) to provide lor extensive improvements
and additions to the property.
The railway from Llaneroh to Ardmore was built by a separate c o r­
poration, v iz : The Ardmore & Llaneroh Street Ry. Co. This property
has no bonds on it. and the funds for construction were provided from
the sale of the stock of the Ardmore & Llaneroh Street Ry. Co.,
said stook representing only the aotual cash oost of the road and
equipment. This property is leased by the Philadelphia & West Chester
Traction Co., the rental paid being equal to 5 p. o. on tbeoapltal stook,
plus taxes and cost of maintaining separate organizations.
During the past two years the Philadelphia < West Chester Traction
fc
Co. has made very extensive additions ana betterments to its property,
consisting o f buildings, m achinery, oars, real estate and other items,
and it was iu this oonneotlon that the outstanding Indebtedness o f the
oompany was incurred.

In oth er w ords the co n stru ctio n o f the A rd m ore & L la n eroh
Street R y . occa sio n e d n o p a rt o f the floa tin g d>-bt o f the
Philadelphia & W est C hester T ra ctio n C o .—V . 76, p. 159.
R o c k Is la n d C o.— D ir e c to r .— G e o rg e P . B oggs, S ecretary
o f th e C h ica g o R o c k Island & P a cific R v . C o., has been
elected a d ire cto r o f th e R o c k Island C o .— V. 76, p. 159, 103.
S a c r a m e n to E le c t r ic Has & R y .— See C a liforn ia G as &
E le ctric C orporation u nd er “ In d u stria ls” b e lo w .— V . 76, p.103.
S t. L o n is & S u b u r b a n R y .— B on d s O ffered .— T he A lth e im er & R a w lin g s In vestm en t Co. o f St. L ouis ow n s and o f­
fers fo r sale, at 101
and interest, a b lock o f the n ew 5 p. c .
general m ortga g e 20-year g o ld bonds.
A n advertisem ent
says:
This issue of bonds is dated Nov. 1st,11902, and runs for tw enty year
straight, bearing interest at the rate of 5 p o. per annum. The tota
o f the issue amounts to $7,500,000, of whloh amount $3,300 000 w ill
be reserved and need for redeeming underlying bonds; $2,600,000 to
pay off all other indebtedness against the road, and $1,600,000 for im ­
provem ents, betterments and extensions. These bonds are secured
by a general mortgage on the franchise, equipment and property of
this oompany, whloh now operates 100 miles o f electric railroad In St.
Louis and violnity.—V. 76, p. 103.

S ch e n e cta d y R y .—B onds Offered — N. W . H arris & Co. o f
this c ity and P e rry , Coffin & B u rr o f B oston are offerin g at
106 and in terest $500 000 first m ortga g e 4}^ per cen t $1,000
gold bonds, £dated Sept. 1, 1901, and d u e Sept. 1, 1941, but
su b je ct to red em p tion on and a fter Sept. 1, 1911, at 110 and
in terest. C oupons payable M a rch 1 and Sept. 1, at th e Mer­
can tile T rust Co. o f N ew Y o r k , T rustee. C apital stock
authorized and issued, $600,000 ; first m ortga g e
p. c. bon ds
au th orized and issued (clo se d m o r tg a g e ), $2,000,000. A c ir ­
cu la r says in substance :

These bonds are secured by a first mortgage on the entire property
and franchises o f the Soheneotady Ry. Oo. and by the deposit o f the
entire capital stook of the Schenectady Illuminating Oo., which has no
mortgage debt and is the only electrio-lighttog oompany In Schenec­
That the railroad companies pay the olty an annual rental o f $25,- tady. The earnings reported by the 8 cbenectady Ry. Co. for the y«ar
00 0 for the use o f the subsurface o f streets i-hown on their plans south ending Deo. 31, 1902, w ere: Gross. $573,771 ; net, $187,024; interest
o f 57th 8 t. and Park Ave.; assume all the expense o f building the on all bonds outstanding, including $ 0 0 ,00 0 Just issued for exten­
bridges and viaducts from 45th to 56th streets, iuoluslve. except for sions and Improvements, $90,000; balance, surplus, $97,024.
the additional width o f the 45th St. viaduct and less $600,000 de­
The oompany owns the entire street railway system in 8 oheneotady
termined as the oost to the olty o f acquiring and building equivalent and its suburbs. It completed In September. l 9 o l , a double-track line
street space; contribute the land for the olty to bnild the Park Ave. 12 miles long to the oity limits of Albany, and ou Nov. 15. 1902, a
viaduct provided for in the 3rd reoommendation; and in all other re­ double-track line of 12 miles to Troy, making the total trackage 67-6
spects hear the costs and charges Involved.
miles. The oompany has a trackage agreement with the United Trao£;;As soon as the consent of the Legislature to a change of tion Co. for running its cars to the centres o f Albany and Troy. There
is now under construction a double-track extension to Ballston, and
power is obtained, the work can be pushed.
new local extensions. The Ballston line should be In operation dur­
jjgfAs part of the scheme, the Rapid Transit Commission ing the coming summer. The street railway system of Amsterdam,
is asked to consider favorably plans for the construction of Fonda, Johnstown and G loversvllle 1s building to 8 oheneotady, and
two tracks from the Grand Central Station to connect with will probably have a through line running by summer
serves
250,000,
direct­
the tracks of the Rapid Transit Subway (Interborough Rapid ly The oompany 81,682 a population of about reoently Includingdistrict
Schenectady
(now estimated with
annexed
Transit Co.) on Park A ve.—V. 78, p. 48.
at over 50.000), Albany 94,151, Troy 60,651, as well as a considerable
population.
Oregon Short Line R R .—A d d itio n a l P a rticip a tin g B onds. intermediate (and annexed Adjoining Troy are tbe cities of Lanslngburg 12,595
to Troy slnoe the 1900 Census), aud Cohoes
—Toe New York Stock Exchange has been requested to list 23,901. The new line w ill serve Ballston 3,923, and Indirectly Sara­
$10,000,000 additional 4 p. c. participating 25-year bonds of toga 12,509 Soheneotady is in the Mohawk Valley and owes Its rapid
growth to the extensive aud prosperous manufactories there, fore­
1927, issued to provide for extensions and advances. This most among whloh are the General E eotrlo Co., employing about
makes $41,000,000 of the issue outstanding, secured by an 11,000 bands, and the Am erican Locom otive Works, employing about
e q u a l amount of Northern Securities Co. stock. See V. 76, 4,200 hands.
The plant and equipment are modern and efiioient, the rolling stook
p. 218.
being nearly all new. With the exception o f 2 miles of girder rail,
Pennsylvania R R .—Purpose o f T em p ora ry L o a n .— Re­ soon to be replaced, all of the traok is new and consists o f 70, 75 and
garding the temporary loan for $35,000,000 obtained, a 3 an­ 7 h pound T rail, 7 " or 9 ” girder rail. The 41 miles of traok being con­
structed Is of similar material. Upon Its com
nounced last week, at 4>£ p c. interest for six months, with have by single-track measurement 108 milespletion the com pany w ill
o f new, substantial aud
the privilege of renewal for another six months, First Vice- thoroughly equipped traok. The Soheneotady Illuminating Co. has
been operating successfully for a number or years, and is now putting
President Green says:
In making the financial arrangements referred to. the com pany is its wires under ground in the business district. Tne management and
temporarily financing for the construction work necessary to be pros­ control is strong, both financially and teonnloally, and Is in close alli­
ecuted at once east and west o f Pittsburgh, in order to relieve the ance with the General Eleotrio Co. The franchises are liberal, unlim ­
present congestion o f trafUo upon its lines, and provide a d d itio n a l ited in time, and satisfactory from a business standpoint.—V. 75, p.
yards, seoond, third and fourth traoks, and other facilities absolutely 1303.
neoesslty in order to bring about a free movement of its traffic.
S h r e v e p o r t (L a .) B r id g e & T e r m in a l C o .—R on d s.— A c ­
This work is scattered over various lines la its system, b >th east
and west o f Pittsburgh. Am ong the im portant pieces o f work east of co rd in g to a Dress despatch th e d ire cto rs at a m eetin g in
Pittsburgh are tbe^new line from Marysville, above Harrisburg to Sh reveport, L a ., on Jan 12, au th orized the issuance o f bon ds
Atglen; the new Tine across West Philadelphia to Greenwich; the to the am ount o f n ot m ore than $L,000,000, the p roceeds to be
Brilliant line at Pittsburgh, the construction o f third and fourth
traoks at various points on the Middle and Pittsburgh divisions, and used in the con stru ction o f a briotge across the R -d R iver, to
the new line which brings into use the Portage road over the m ount­ be used by the St. L ou is Southw estern and the S h revep ort &
ains between Oresson and Huntingdon; the elevation o f traoks on the Red R iv e r V a lle y railroads. T he c o m p a n y in form s us th at
Philadelphia Baltimore & Washington In Chester and Wilmington; the ex a ct am ou n t o f bond3, term 3 a n l con d ition s h ave n ot
the reconstruction of its line in Washington and the construction
\ been definitely fixed as yet.^M r. T. A lex a n d er is P resid en t.! |
o f a union station at that point.

J anuary 31, 1903.]

THE

CHRONICLE.

S p r in g fie ld & C en tral I l lin o is R y .— Officers.— The fo lo w in g officers have been elected:

267

IND USTRIAL. GAS AND MISCELLANEOUS.

A la sb a -P en iu g u la P a c k in g Co. — C o n so lid a tio n .— T his
Hardin H Llttell, President; C. K. Minary, General Manager; L. W.
Botts, Secretary, and O. K. Mlnary, Treasurer. Directors ; H. H. com pany was incorporated in N ew Jersey on Jan. 21st w ith
Llttell, J. W. Gaulbert, Attllla Oox. St. John Boyle, William Jarvis, $2,750,000 o f authorized capital stoek (in $100 shares), o f
Oscar Fenley, O. K. Mlnary, Bluford Wilson and P. B. Warren.—V. 76, w hich $750,000 is to be preferred 6 per cen t n on -cu m u lative,
p. 550.
to pool the silm o n canneries in Southeastern Alaska that
S te u b en ville T ra ctio n & L ig h t Co.— G uaranteed B o n d s are not con trolled b y the A laska Packers’ A ssociation.
Offered,— E 1ward B. Smith & Co. o f this city a n i P a ila d e l- Griffith, Durney & Co. and H enry F . A llen, all o f San F ra n ­
phia are offering, at 101 and interest, the unsold balance o f a cisco, are back o f the am algam ation. The com p a n y’ s N ew
block o f $700,000 first m ortgage 5 p. c. g old bonds, due May Jersey representative is the C orporation Tru3t Co.
1st, 1926, interest May and N ovem ber. These bonds are
A m erica n M atch M a n u fa ctu rin g Co.— M ortga ge.— A m o rt­
secured by a first m ortgage upon the street railroads, electric
gage for $800,000 to the W a sh in g ton T rust C o. o f this c ity , as
light and gas properties in Steubenville, O., in clu d in g city
lines and an interurban line opened M ay 25, 1902, to th e C ity trustee, has been filed at N ew ark, N. J .— V. 71, p, 1068.
o f T oronto.
Steubenville and T oronto have a com bine d
A m erica n B ic y c le Co.— A greem ent—Change as to New
population o f about 30,000, and are g row in g rapidly. F or th e P referred — Further D ep osits.—Tne reorganization c o m m it­
tw elve m onths ending Dec. 31, 1902, the net earnings o f th e tee, W illia m A . Read, chairm an make3 the fo llo w in g an­
com pany (D icem b er partly estim ated) are reported
as nouncem ent : “ A b ou t 95 p, c. o f the outstanding debentures
am ounting to $48,875, the interurban extension being in clu d ed have been deposited under the plan o f reorganization (Y . 75,
only fo r the last 89ven m onths. The net earnings fo r the p. 1401). A t the request o f certain o f the deoentnre holders
year 1903 are expected to exceed $61,000. The total in terest tbe com m ittee extends the tim e fo r depo3it o f debentures
charges are $35,000. The paym ent o f the principal and in ter­ under said plan to and including Feb. 2. 1903. The deben­
est o f the bonds is guaranteed by the A m erican Gas Co. o f ture holders’ p rotective com m ittee has w ith draw n its op p osi­
Philadelphia, a com pan y w hich has a paid-up cash capital o f tion to the plan.” (See notice on another page.)
$1,000,000 and for some years past has paid dividends at the
The com m ittee has agreed that the second preferred stock
rate o f 6 p. c. per annum ,—(See V . 68, p. 721.)
into w hich the present bonds are t o be con verted shall be
T e rm in a l R a ilro a d A ssocia tion o f St, L o u is .— A u th o rita ­ made 5 per cent (instead o f 6 p. c.), a n i be cu m u lative after
tive Statem ent.— The m ortgage recently authorized secures tw o yea rs.—V . 76, p. 160.
$50,000,000 “ general m ortgage refu n din g 4 per cen t sinking
A m erica n Gas Co.— Guaranteed B onds.— See Steubenville
fund gold bonds o f 1953.” coverin g the entire property o f the
Traction & L igh t Co. under “ R ailroads” a b o v e .—V . 68, p. 721.
Term inal Association. O f the am ount authorized, $3,000,000
are being issued or are about to be issued and an additional
A m erica n S ew er P I db Co.— R eduction o f S tock.— T he
shareholders w ill vote Feb. 2 on a proposition to reduce the
$10,000,000 w ill be put out before the end o f the year.
These bonds are guaranteed as to interest and sinking authorized capital stock from $10,000,000 to $8,000,000, the
fu n d by the fo llo w in g fourteen railroad com panies, each am ount outstanding being $7,830,000.— V. 76, p. 160.
to the extent o f its proportionate share, one fo u r te e n th ;
A m erica n T h rea d Co.— L isted .—T he New Y ork Stock E x ­
these com panies con trollin g “ over 50,000 m iles o f railroad,
change has authorized the bonds n ow designated as “ first
or m ore than 25 per cen t o f the entire railroad m ileage o f the
collateral trust bonds” to be h ereafter designated as “ first
U nited States.”
m ortgage 4 per cen t bonds,” the prop erty o f all the con stitu ­
Missouri Paolflo,
Louisville A Nashville,
ent com panies being n ow ow n ed in fee by the A m erican
St. Louis A San Franolsoo,
St. Louis Iron Mt. & So.,
Thread Co. The m ortgaged p rop erty as given in the supple­
&b is li
Chicago Rook Island & Pao.,
St. Louis Vandalla A T. H. (Penn, Southern Railway,
m ental m ortgage o f F eb. 14, 1902, agrees w ith the d escrip ­
system),
Illinois Central,
tion o f the property as given in the application o f Jan. 2,
Chicago A Alton,
Baltimore A Ohio S. W.„
1900 (V . 70, p. 179), w ith the exception o f the B arstow plant,
C. O. C. A St. Louis (N. Y. Central Chicago Burlington & Quinoy,
Missouri Kansas A Texas.
system),
the land and buildings o f w h ich were sold, the proceeds b e­
in g applied to extensions and betterm ents. In addition, u n ­
A ddition al inform ation is given as follow s :
S t o c k —The oapital stock of the Terminal Association is owned In im proved real estate has been sold at H olyoke and W orces­
equal shares by the above companies.
ter, Mass., and the proceeds ($36,535) sim ilarly applied.
G uar anty .—The guaranty Is In the form of a guaranty agreement
between the above companies and the Terminal RB. Association, and F rom A p ril 1, 1899, np to M arch 31, 1902, “ there had been
lodged with the trustee These companies In that agreement also expended fo r additions and im provem ents at the variou s
bind themselves to use forever the property of the Terminal Associa­ plants n ow ow n ed b y the A m erican T hread Co. the sum of
tion for all traflio under their control, to, from, through or orosslng $2,149,853.” On Ju ly 1, 1902, the m ortgage fo r £102,700 on
the Mississippi River at St. Louis, and that the tolls shall be snlUoleut
to enable the Association to meet all fixed oharges, sinking fund, oper­ the K err Thread plant in F a ll R iv er, Mass., was paid, this b e ­
ating, maintenance, renewal expenses, eto.
ing the only prior lien .— V. 75, p. 665.
Sinking F und .—A sinking fund commencing July 1, 1906, provides
for the redemption of $100,000 bonds yearly by purchase, If possible,
at or below 110 , or by lot at 110 and Interest If not otherwise obtain­
able. The entire Issue Is subject to redemption at 110 and Interest on
or after Jan., 1,1910.
Property .—The Association owns facilities that are indispensable^
the railroads using them. The growth of years, it now controls pra tloally the only available entrances to St. Louis, and Its property pro
ably oould not be duplicated for twloe the entire bonded debt. It
owns the union passengar station, the largest In the world, 100 miles
of tracks, round houses, warehouses, two belt linesenolrollngSt. Louis,
throe belt lines In East St. Louis, ZOO acres of land In the heart of the
business districts of St Louis and East St. Louis, and oontrols by per­
manent lease the Eads and Merchants bridges and the St. Louis Tun­
nel.
These bonds are also a first lien on $950,000 out of a total of $1,000000 stock of the Wiggins Ferry Co., an unencumbered property, ow n­
ing praotloally the entire Mississippi River front opposite St. Louis for
a distance of three miles, 794 aores of land in East St. Louis and 70
In St. Louis; Belt Ry. lines In both cities, eto., and on the entire oapi­
tal stock of the following unencumbered properties The East St.
Louis A Carondelet R?. Co., the Illinois Transfer Ry. Oo.. the Granite
City A Madison Belt RR. Co., the St. Louis Belt & Terminal Co., and
the Terminal Realty Oo. No mortgage oan be put on any of these
properties whioh would Impair the lien of these bonds.—V. 76, p 103.

U n ited R a ilw a y s # E le c tr ic Co., B a ltim o r e .— L e is e —The
shareholders on M onday adopted the proposition to take a
999-year lease o f the Baltim ore Sparrows P oint & Chesapeake
R y., and to guarantee its $3,000,000 bonds. The line w ill
connect Baltim ore w ith the M aryland Steel W ork s at S p a r­
rows Point and w ill be extended to and along the Chesapeake
Bay shore below N orth Point, where sum m er resorts w ill be
established. See V . 76, p. 213, 160.
Venango P o w e r & T ra ctio n Co., Y eu a n g o C ounty, P a .—
Bonds — E a rn in g s—R obert C. H all o f P ittsburgh and H ar­
rington & Ellis o f this city are offerin g at 103^ and interest
$400,000 of the §1,000,000 first lien gold bonds o f 1901 (see
description in V. 74, p. 1253). F o r the half-year ended D ec
81, 1902, the gross earnings, it is said, w ere $189,137; net
$31,239.— V. 74, p. 1253,
Y ir g in ia & S ou th w estern R y .— Bonds L is te d —Official
Statem ent.— SeeVirginia Iron, Coal & Coke Co. under “ Indus­
trials” b elow .—V . 75, p. 850.
W ages.—Recent A nnouncem ents.—T he fo llo w in g increases
of wages have recently been announced or reported:
Atlantlo Coast Liue RR. up to 10 per cent. Boston Elevated Ry.
total oost to oomoauy, about $250,000 yearly. Delaware & Hudson
Oo., general lnorease of from 5 to 10 per oent. Delaware Laos. A
West. RR., general, 5 to 10 p. o.; total about $300,000. Louisville
A Nashville RR., engineers, firemen, eto.. average 5 p. o. N. Y. New
Haven & Hartford RR.. oonduotors running over 120 miles dally, var­
ious. Northern Paolflo Ry., trainmen, 10 p. o. Wlsoonsln Central RR ,
locomotive engineers, and firemen. 10 p. o. and over.—Y. 75, p. 1401

Bay Counties Power Co.— See C alifornia Gas & E lectric
Corporation b e lo w .— Y . 76, p. 104.
California Central G a s # Electric Company.— O p tion .—
A circu lar has been sent to the shareholders stating that
holders o f over 80 p9r cent o f the stock (authorized issue
$1, odd,000) have agreed to surrender their holdings tor $80 in
bonds and $50 in par value o f the stock o f tne C alifornia Gas
& E lectric Corporation (see below ), those desiriag to sell
said stock b eiog offered by private parties $30 per share, p a y ­
able in the bonds o f the C alifornia Gas & E lectric C orp ora­
tion at par. In this w ay the stockh older o f the C alifornia
Central can dispose o f his holdings fo r either $80 in bonds
and $50 in stock, or $95 in bonds o f the C alifornia G t s &
E lectric C orporation. Com pare V . 73, p. 901, V . 74, p. 1357.
California Gas & Electric Corporation.— A m a lga m a tion.
— Plans, ttis announced, are being perfected fo r b rin g iag in to
the treasury o f this corp oration . who3e au th orized capital
stock is $15,000,000 (in $100 shares) at least a m a jority o f the
oapital stock o f the fo llo w in g com pan ies:
Bay Counties Power Co.
Bonds.
Stock.
First mortgage 5s, due 1930..........................$2,250,000
$3,600,000
Second mortgage 6 s .........................................
750,000
............ .
California Oen. G. A E.
First, mortgage 5s, due 1931............................ 1,000.000 1,500,000
Fresno Gas & Eleotrio Co.,
(?)
(1)
Sacramento E, G. A Ry.
First mortgage 5s, due 1927....................
2,245,000 1,858,400
Oakland Gas Light & Heat Oo.
First mortgage 5s, due 1916............................. 1,000,000 3,000,000
Total exoluding Fresno Oo....................... $7,245,000

$9,958,400

The several com panies, it is reported, w ill retain their co r­
porate existence, and their properties w ill p robably be leased
to the California G is & E lectric C orporation.
The term s o f exchange offered the shareholders o f the
C alifornia Central Gas & E lectric Co. are s ated above under
the caption o f that com pany. (See also V . 78, p. 9J1.) T h e
San F rancisco papers s a y :
About two-tbir.ts of the stook of the S a o re m e n to E eotrlo. Light A
Railway Co. Is in escrow under an option to purchase at $ t l SO per
share, whioh will he paid for In oash. (C o m p a re Y. 76, p. 103, and
St r e e t R a i l w a y S u p pl em en t )

The whole stook of the Fresno Gas & Eleotrio Oo. h is alrealy been
acquired. ( lee California Central Gas A Eleotrio Co., V. 74. p. 1040.)
The Bay Counties Power Oo. shires, It is u a le r s t o o d w ill be pa ll for
In bonds and stook at a price whioh. taking the -h ir e s o .' the Jaliforala
Gas and Eleotrio Co. as being w o rth $ 10 ea sh and the bon Is a t p ir .
will give the Bav Counties shareholders about $03 per sh ire for jtielr
holdings. (See Y. 75, p. 610; V. 72, p. 1032.)

268

THE

CH RONICLE.

The greater part o f the stock of the Oakland Gas Light & Heat Co.
has been In esorow for some time, nnder an option, giving the new
corporation (V 76, p. 214), the right to purohase the stook at if 70 per
share, pins the amount that has been expended in Improvements since
the option was given, whloh will probably amount to $4 or $5 per
share. (V. 76, p. 294; V. 74, p. 991.)

The California Gas & Electrio Corporation recently made
a mortgage to the Mercantile Trust Co. of San Francisco as
trustee to secure $10,000,000 of 5 p. c. 30 year (or 20-year?)
bonds. Over half of these bonds are said to have been sold at
par with a honus of 50 p. c. in stock, to the Mercantile Trust
Co. of San Francisco, Borel & Co , the Bank of California,
and others. Among those chiefly interested in the several
allied companies are R. R, Colgate of New York and Eugene
J. de Sabla Jr. and John Martin of San Francisco.—Y. 76,
p. 214.
Central Union Telephone Co.—R e p o r t,— The earnings for
the year ending D-c. 31 (November and December being
partly estimated in 1902), compare as follows:
T ea rOrots.
1902.............................$3,00 J,717
1P01............................. 2,584,789
—V. 74, p .8 2 8 .

Net.
$661,728
611,288

Interest.
$481.3*3
386,762

Bat., sur.
$180,346
224,52d

[V ol. LXXVI.

appliances incident thereto and necessary for the purposes of
its business. The following statement is made:
Since the original application o f Deo. 12, 1899, to list these bonds,
(see V. 68, p. 7 7 3 , 824,1025) all the constituent companies o f the New
York Gas & Elcotrlo Light, Heat & Power Co. were duly merged Into
that company, but prior to suoh merger a direct m ortgage was given
by each of said constituent com panies on the real and personal prop­
erty of each to the State Trust Go., as trustee, for the purpose of
additionally securing the bonds of this Issue Also at the time o f the
consolidation o f the New York Gas, Electric Light, Heat Se Power Oo.
with the Edison Eleotrlo Illuminating Co. o f N. Y,(M ay 2d, 1901,) the
New Y ork Edison Co., as successor, gave to the Central Trust Oo.,
trustee, a dlreot mortgage, dated May 22. 1901, whereby the purohase
money mortgage o f the New Y ork Gas, Eleotrlo Light, Heat & Power
Co was made a direct mortgage on all the property of the Edison
Electric Illuminating Co of New York, and the stook of the Illum inat­
ing Oo. was oanoeled. Thereafter, the New York Edison Co., for the
purpose of additionally securing the bonds of the Issue now listed,
gave a dlreot mortgage to the Morton Trust Co., trustee, form erly the
State Trust Co , dated Deo. 16,1902, on all the property of what was
form erly the Edison Eleotrlo Illuminating Co., such mortgage being
subject only to the lien o f the purchase m >ney m ortgage and dlreot
mortgage o f May 2 2 ,190 1, and the underlying mortgages o f the
Illumluattng Company, amounting to the sum of $8 50o,000. In said
mortgage of Deo. 16, 1902, the New York Edison Co. expressly cove­
nanted that the Issue of undertying bonds should be limited to the
sum o f $7,838,0'^O as follow s: Edison Eleotrlo Illuminating Co. o f New
York, $6,500,000; Mount Morris Oompany, $988,OuO; New York Heat,
Light A Power C o„ $150,000.

Chicago Telephone Co.— R e p o r t.— T
he earnings for the
T rustee .—John W. Sterling has been elected a trustee to
year ending Dec 31 (December being partly estimated in
succeed John P. Hoggins, deceased.—V. 75, p. 188.
1902) were as follows:
Detroit Edison Co.— B onds Offered —Vermilye & Co.
Tear—
Gross.
Net.
Dividends.
Hal., sur.
1902..................... $4,6-0,805
$1,202,471
$1,076,193
$ '2 7 ,2 7 8
and Spencer Trask & Co. are offering at 104 and interest the
1901..................... 3,775,002
1,088,872
960,000
123,872 $1,800,000 first mortgage 5 p. c. $1,000 gold bonds, dated Jan.
The number of telephones in use on Dec, 81, 1902, was I. 1903, anddne Jan. 1, 1933. Interest payable January and
79,043, against 53,429 in 1901.- Y . 74, p. 527, 529.
July at the agency of the company in New York. Standard
Trust Co. of New York, trustee. See V. 76, p. 215,
Colorado Fuel & Iron Co.—L is te d .—The New York Stock
Distillers’ Securities Co.—L isted .—The New York Stock
Exchange has listed $2,0)0,000 additional 5 per cent ten-year
convertible dsb«nture bonds of 1911, making the total listed Exchange has listed $9,240,000 first mortgage twenty fiveto date $14 068 000. This listing is supplemental to that of year 5 per cent convertible coupon boads of 1927, and has
Aug. 13, 1902, the proceeds to be applied to the acquisitions authorized the listing from time to time, prior to April 1,
then referred to. The entire $2,000,000 debentures have 1903, of $6,760,000 of said bonds on offi ;ial notification that
they have been issued in accordance with the terms of the
been disposed of for cash.
application, making the total amount authorized to.be listed
R ep o r t. —See page 263 of this issue,—V. 76, p. 214.
$16,000,000. (See fall particulars as to company in C h r o n i c l e
Compressed A ir C o .- C i r c u l a r s . —Accompanying the re­ of Jan. 10, 1903, p. 100.)- V . 76, p. 105, 10J,
quest to the stockholders to subscribe to $200,000 of the first
Empire City Subway Co., New York City .— In crea se o f
mortgage 5s, at $88 40 per $100, were tw o circulars. One of
these, signed by H. Monkhouse, President Rome Locomotive Stock.— A. certificate of increase of capital stock from $2,250,& Machine Works, and Vice-Pres. Compressed Air Co., says: 000 to $2,750,000 was filed at Albany on Jan. 13. The com ­
pany is controlled by the New York Telephone Co., Charles
The Rom e Locom otive A Maohlne Works Is offered more w ork now
tban It can accept with Its present limited facilities, bat with .the fur­ F. Cutler being President of both corporations. Debenture
nishing o f $ 1 0 0,000 or $125,000, and the consequent im provem ent bonds for $2,500,000, part of an issue of $3,790,000 created in
and betterment to the works, large and profitable oontraots for the 1898 by the Const lidated Telegraph & Electrical Subway Co.,
building and repairing of looomotlves, the manufacturing o f gas com ­
pressors, stationary engines and engines and running gears for auto­ were assumed by the Empire Company sim e years ago in
connection with the purohase of part of the subway. See
mobiles, whloh are now <ffered, can be entered into.
Onr efforts the past year have resulted In some very radical Improve­ foot-note to table under “ N. Y. Gas & Electric Light, Heat
ments in the air motors, particularly as regards Increased elfiolenoy, & Power Co.” in V. 68, p. 773.—V. 72, p.,1083,
durability and reliability. This has been brought about b y re-designlDg, simplifying and strengthening all parts subject to excessive
Federal Asphalt Co.—S ta tu s .—This company, in which
Btralns and wear, whloh. with a systematic reduction in the number of Chicago capitalists are interested, was incorporated in West
pieoes or parts entering Into the construction, has virtually overcom e
the numerous com plications ana vexations that confronted us In the Virginia on Feb, 2, 1901. It has $5,000 000 of authorized
operation o f our former products. Another very important im prove­ capital stock, but has issued no bonds. Its property is lo­
ment Is the attainment of noiseless easy m otion; the swaying and cated in Kentucky, and includes 2,800 acres, containing large
forking motion whloh was so severely orltiolzed in our form er m otors
being eliminated at all practical speeds.
By the re designing quantities of asphalt rock. The company also mines, mills
o f the high pressure pipe system, the trouble from leaky joints and and delivers asphalt to contractors and sub-organizations.
broken oonneotlng pines has been entirely overo >me. This Is evi­ In addition to its large plant already in operation the com ­
denced more particularly by the tw o motors w hich have been in oper­ pany is building new mills with an increased daily capacity
ation for the past fifteen months In Chicago on the lines o f the Chicago
Union Traotlon Co. These tw o m otors have been subjected to very of 1,500tons. The officers are: M. D, Coffeen, President;
severe servloe, hauling from tw o to four trailers, and have not missed Vice-Presidents, Joseph Huffaker, T. K. Webster and B,
one trip during the entire period, and I am inform ed that the oost of Rorison; Secretary, E. C. Brainard, of Sidney Love & Co.
maintenance Is very low In com parison with other equipment doing
Among the leading shareholders are:
like service.
From these praotioal demonstrations it is evident that onr m otor is
a praotioal success, whleh 1 would have no hesitancy In guaranteeing
to do satisfactory work.

D. R. Forgan, Vice-President o f the First National Bank o f Ohloago;
J. A. Spoor, President of the Union Stook Yards an'i Ohloago Janotion
Ry.; D. M. Camming*, V ie 9-President of 8oath Chicago City Railway
Co., and T. K. W ebster, President o f the Webster M anufacturing Co.

A bondholders’ committee, consisting of Alex. C. Soper,
Fore River Ship & Engine Co.— D ivid en d Parsed — The
Newell C Knight and Chauncey S. Trnax. gives the follow ­
directors have passed the usual semi-annual dividend upon
ing with o ’ her information under date of Dec. 6, 1902:
The com pany has outstanding: $6,400,000 common stook (besides the preferred stock. A circular sent out by them says in
$845,000 in treasury); $766,000 preferred stook, all ow ned by M etro­ substance:

politan Street Ry. Co. o f New York; $305,000 first mortgage 5 p.‘o. gold
bonds "(authorized issue, $500,000), seou rel by all the com pany's
United States patents, and by all the $150,000 capital stook of the
Rom e Locom otive & Machine Works Co. (Interest on these bonds was
defaulted Oot. 18.1902), floating debt, $47,6t8, viz.: Accounts pay­
able Nov. 1. $4 086; bills payable, $35,907; Interest due on bonds Oot.
16 ,1 9 0 2 (unpaid), $7,625. The funded debt o f the Rome Company la:
First m orreage 6s, $75,000; consolidated m ortgage 6s o f 1901, +150,000, o f which $76,000 held to take np the 6s and part in Compressed
A ir Company’ s treasury. The M etropolitan Street Railway Co , in
consideration of exem ption from participation in the purchase o f the
$ 200,000 o f bonds, has agreed to surrender all its preferred shares,
exchanging them for common shares.
The Rome works, even In their present poorly equipped oondltion,
earned net the past tw elve months $60,000, and in the opinion of Mr.
Monkhouse, the Manager, its earnings could have been * 20 0 .0 0 Q if it
had had at its command, say $150,000 o f new money. The Income of
the Compressed Air Co. during the past year has been absolutely
nothing The expenses have been a little less than $10,000 and should
be made not to exceed $1,000. The com pany’ s Income, how ever is
liable to begin at any time and may realize the hopes o f Its promoters.
- V . 76, p, 161.

Consolidated Gas Co. o f New York City.— Listed.,— The
New York Stock Exchange has listed $3,500,000 additional
first mortgage collateral trust 5 p. c. bonds of the New York
Gas & Electric Light,Heat & Power Co., making the total
amount listed to date $15,000,000. The proceeds of said
bonds are to be deposited with the Morton Trust Co,, as
trustee, to b« used for the purpose of paying for the comple­
tion of the Waterside Station, situated at First Ave , East
River, 38th and 39th streets, and the various distributing
stations belonging to the company, and for the purpose of
acquiring additional sub-stations and the machinery and

During the past 18 months the com pany has invested very large
sum sof money in the oonstruotion and equipment of les shipbuilding
plant at Qutnoy, Mass., with the result that to d a y the shareholders
have a property whloh is not surpassed in the United States. The
oapital required has largely exoeeded the amount which it was possi­
ble to obtain by the sale of capital stook, aud during the flsoal year
ending on Dec. 13. 1902, the com pany contracted a float'ng d bt to an
amount exceeding $*00,000. In order to retire the floating debt,
oomplete rhe plant and furnish working oapital, the stockholders re­
cently authorized the issue of $l,250,0J0 first mortgage bonds. These
bonds have been subscribed for and rhe proceeds will be aopiied to the
purposes anove mentioned. Oolnoldently with the seourl ig o f this
new oapital. in December last, seven new members were elected to tbe
board of direotors.
While the directors w ere reluctant to interrupt a reoord o f dividend
payments praotloally unbroken for a long period, tuey have unani­
mously deolded that the best interests of the oompany are opposed to
a distribution o f profits at the present time. Tue directors believe
that the affairs o f the oompany are in a pr sperous and satisfactory
condition; that the new oapital reoently obtained is ample; that there
is an abundanoe of work on hand, and that at no time have the condi­
tions given suoh good ground for the confident expectation o f the
stockholders.

The company has outstanding $1,920,900 of preferred
stock, of which $1,000,000 is owned by President Thomas A .
Watson.—V. 76, p. 105,
General Electric Co.— P u rch a se ,—It is generally believed
that negotiations have been about completed, subjeot prob­
ably to an expert examination, for the purchase of a con­
trolling interest in the Stanley Electric Manufacturing Co.
of Pittsfield, Mass. Talk of possible stock rights in connec­
tion with the deal has aided the advance in the price of Gen
eral Eleotric shares.—V. 75, p. 137.

January 31, 1903,]

THE

CHRONICLE.

International Mercantile Marine Co .— D etails o f Bonds.
The new mortgage is made to the New York Security &
Trust Co., as trustee, to secure an authorized issue of
$75,000,000 of twenty-year
per cent gold bonds ($1,000
each), due Oct. 1, 1922 (interest payable April 1 and Oct. 1),
but subject to call on Oct. 1, 1907, or any interest day there­
after, at 105 and interest. The bonds may be registered both
as to principal and interest. The present issue is $50,000,000.—V. 76, p. 161.
Lancaster Mills.—Division o f Shares .—The sharehold­
ers having voted to reduce the par value of the shares
from $400 to $100, Treasurer Harcourt Amory gives notice
that he is ready to make the exchange on the basis of four
new shares for each share of old stock. The stock is $1,200,000. Dividends in 1902: June, 2% p, c .; December, 3 p. c.;
in 1901, none. The company has had a long dividend record,
the rate at one time being 20 p. c. per annum, and having
averaged 6 p. c. yearly during the last twenty years.
Marconi Wireless Telegraphy Co. o f Canada.—In corp or
ated .—This company was organized at Montreal on Jan. 13
with $5,000,000 capital stock in $5 shares. Directors:
G. Marconi, Andrew A. Allon, Radolplie Forget and F. C. Henshaw,
looal capitalists; W. R. Green of New York and John D. Oppo of
England.

269

(L . C .) S m ith & B ros. T y p e w r ite r C o.—In co rp o ra ted . —
This com pany was incorparated at A lban y on Jan. 27, w ith
$5,000,000 authorized capital stock to build a typ ew riter
plant at Syracuse N. Y . T he n ew com pany w ill be m an aged
by Lym an C. Smith and his brothers, w ho have resign ed
from active connection w ith the Sm ith P rem ier T y p ew riter
Co. and the U n ion T ypew riter Co. w h ich con trols the
form er.
(J o h n B .) S tetson C o.— A nnual R ep o r t—D ividend I n ­
creased.— President John B. Stetson says:
Last year the management waa enabled to report the largest
volume of business slnoe the organization of the oompany. The aotnal
sales for the year ending Nov. 30, 1902, are 6*s p. o. In excess of the
sales for the previous year. The new Issue of common stock of $500,000 allotted to the stockholders at par, aooordlng to the resolution of
the November meeting, has all been subscribed for. We have under
oourse of oonstrnotton a new warehouse, a new hospital bnlldlng on
4th St., below Montgomery Ave., and a live-story addition to the new
power house on Germantown Ave. The dlreotors at the Deoember
meeting, by resoln'lon, declared that the profits for the tear, taken In
oonneotlon with the general condition of business, warranted the
declaration of a dividend of 12 p o. on the common stock, making the
dividend for the year 17 p. o., and 8 p. o. on the preferred stock. After
payment of the dividend there remains $1,264,970 to the oredlt of the
surplus acoount. We enter the new year with a large volume of orders
on onr books, and there Is every Indication that the business for 1903
will be equal to that of the year Just olosed.—V. 75, p. 12 j 8.

Underwood Typewriter Co.—In corp ora ted .— This c o m ­
Monongahela River Consolidated Coal & Coke Co.— pany was incorporated at T renton, N. J ., on T aursday, w ith
D irectors. —At the recent annual meeting, the following $3,500,000 o f authorized capital stock, o f w hich $500,000 is
directors were eleoted:
6 p. c, cu m u lative first preferred and $1,000,000 6 p. c. cu m u ­
J. B. Finley. H. C. Fownes, 8. 8. Brown. George I. Whitney, A. Jutte,
Hugh Moren, George W. Thels, John A. Wood and R. H. Boggs.

R ep ort. —See under “ Annual Reports.”
L itig a tion .—At Pittsburgh, on Jan. 16, the company filed

abill in »quity, demanding an accounting from the Pittsburgh
Coal Co.tor the year ending April 1, 1902, under a certain
verbal agreement whereby the defendant was to get the en­
tire rail output of coal of the plaintiff company, and wns to
pay the same prices that the defendant received for its coal,
less 1*4 cents per ton the defendant was to retain for hand­
ling it. The plaintiff received during the year $782,291 and
claims that there is owing to it upwards of $150,000.—V. 76,
p. 215.
New York & Richmond Gas Co.—L isted .—' he New York
T
Stock Exchang has listed $1,000,000 first mortgage 5 per cent
coupon bonds of 1921.—V. 74, p. 271.
New York (B e ll) Telephone Co.—See Empire City Subway
Co. above.—V. 76, p. 51.
Oil Well Supply Co.—M ortgage.— A first mortgage has
been filed to the Union Trust Co. of Pittsburgh, as trustee,
to secure $2,000,000 of 5 p. c. $1,000 gold bonds. These
bonds are dated Dec. 1, 1902, and are due $100,000 yearly, be­
ginning in 1903, but are subject to call at par, in whole or in
part, on or after Dec. 1, 1905; sinking fund, $3,338 per month;
interest payable June 1 and Dec. 1. A Pittsburgh paper says:

lative second preferred. The value o f the $3,000,000 c o m ­
mon shares is $50 each and o f the preferred shares $100 each.
T b e d irectors are:
John T Underwood, President of the Underwood Typewriter Manu­
facturing Oo. and the Wagner Typewriter Oo.; Her ry Morgenthau,
D. W. McWilliams, Charles Strauss, George B. M. Harvey, George
Day, J. Henry Haggerty, De Witt Jergen and Osoar L. Gnbelman.

U n ion T y p e w r ite r Co.— See (L . C.) Sm ith & Bros. Type*
w riter C o.; also U n derw ood T yp ew riter C o. a b o v e .— (V . 74,
p. 634.)
United Electric Light Co., Springfield, M ass.— New
S tock.—The right accorded to shareholders o f record Dec. 10
to subscribe to $200,000 new stock at $135 per $100 share, to
the extent o f one-third o f their respective holdings, w ill ex ­
pire Feb. 1. The proceeds w ill be used to pay for additions
and extensions to the plant, conduits and underground lines.
Paym ent fo r the new stock is called fo r May 2, 1903, at
w hich tim e stock certificates w ill be issued; but those w h o
desire so to do m ay prepay, interest at the rate o f 5 p. c., to
be allow ed them till M ay a. This w ill increase the ou tstan d­
in g stock to $800,000. T he com p a n y’s bonded debt consists
o f $200,000 debentures, interest 5 p. c. per annum , payable
A p ril and O ctober; denom inations, $500 and $1,000; sin k in g
fund, $8,000 y ea rly; trustee, Springfield Safe Deposit & Trust
Co. N o m ortgage. P resident, E. M organ; Secretary and
Treasurer, W . A . L in coln . C om pare V . 76, p. 107.

This company Is now ereotlng a great plant at Oil City. In addition
it has made extensions to the plants at Pittsburgh, Oil Olty and Brad­
United Gas & Electric Co. (o f New Jersey).—R e p o r t.—
ford, Pa.; Oswego, N. Y.; Poplar Bluffs, Mo.; Parkersburg, W. Va., The report for the year ending D ec. 31 show s:
and a number of other extensions are contemplated The oompany
Grots.
Net.
Bond int. Divs. on p r tf.
Surplus
has nraotloally a monopoly in the oil and gas drilling huelness, Tear.
$148,538
$34,500
$30,000
$84,038
whloh has recently expanded from a few States adjacent to Pitts­ 1 9 0 2 .. ..$619,430
104,145
.........
.........
.........
burg to lnolude Kentucky, Indian Territory, the East iDdies and nu­ 19 01 .. .. 541,845
The net earnings are above “ all oost of operation, lnsnrance, taxes,
merous other plaoes. The oapltal stock Is $1,500,000 [no preferredl
and the book value Is about $100 per [tlOO] share. Practloally all of matnteDanoe ana Interest on all bonds of snh. companies. Thebalanoe,
$34,038, equal to over 8 per cent on the entire outstanding common
the stock Is owned by President John Eaton
stock, has been and Is being expended on extensions and betterments
Pittsburgh Coal Co.—Suit.— See Monongahela River on the various properties owned. During the past year two valuable
properties have been acquired and negotiations for a third have Just
Consolidated Coal & Coke Co. above.—V. 76, p. 216,
been completed, which undoubtedly will largely Increase the earnings
Pressed Steel Car Co. —E x tr a D ivid en d .— A. quarterly of the oompany.” —V. 74, p. 584.

U n ited S tates Rubber C o.—E arn in gs.— The report o f
earnings published briefly in last w eek’s Chronicle was
obtained by oom parisou o f the official statem ents o f the
A uditor o f the com pany, as contained in the letters o f P resi­
dent Colt to the F irst N ational Bank and Blair & C o., in c o n ­
nection w ith their offering o f collateral trust notes u nder
date o f Jan. 16, 1903, and last spring. The tw o statem ents
are identical in w ording except that the earlier one cov ers
“ the earnings and disbursem ents from the organization o f
the com pany to N ov. 80, 1901,” w hile the later one brings
the figures dow n to N ov. 80, 1902.
B oth statements, w e are
Rubber Goods Manufacturing Co.— Cash R eceived.— The authoritatively in form ed, include the operations o f the c o m ­
company recently received the remaining $400,000 of the pany and its subsidiary corporations. O bviously, th erefore,
$750,000 due under its compromise of an old loan.—See V. 75. the difference between them represents the earnings for the
p. 1353.
year ended N ov. 30, 1902, as fo llo w s:
(John P.) Squire & Co. (Packing ) .— Pools - F i r m O ffer.—
Difference vis:

dividend of 1 p. c. on the common stock has been declared,
payable Feb. 24, 1903, to stockholders of record Feb. 2; also
an extra dividend of 1 p. c., payable in four equal quarterly
instalments, beginning Feb. 24, thus placing the stock for
this year on a 5 p.-c. basis.
New D irector .—James A. Blair was on Wednesday eleoted
a director in place of H. E. MoJler, who resigned, the Rubino
interests represented by the latter being, it is understood, no
longer connected with the company.
Report.—See page 284.—V. 75, p. 1805.

Dennett, Crane and Blanchard in a second letter to the
stockholders make a firm offer of $15 per share, less $1 per
share commission, for all or any part of the common stock,
but not less than 51 p. c., if deposited with the American
Loan & Trust Co. before Feb. 15.
Attorney Philip 8 Rust of Boston is paying $14 per share
cash for all the common stock he can get. The names of his
principals are not divulged.
F. O. Squire has also undertaken to form a pool.
D irectors.— At a meeting last week Frank O. Squire, Fred.
F. Squire, John P. Squire and James Gh Massey were dropped
from the board which now includes:

From the organisation

To

To

Tear ending

o f the company.
Nov. 30, '02.
Nov. 30, '01. Nov. 8 0 ,’ 02.
Total net earnings..................$25,194,871 $23,910,551 $1,284,320
Deduct.
Amount paid for Interest....... $1,820,269
$ t ,048 055
$772,214
Charged off for depreola’ n.eto. 3,433,570
3,082,439
351,131
Dividends paid......................... 14,102,812
14,10^,312
none.

Total deductions...................$22,356,651
B alanoe...................................... $2,838,220

$21,233,306 $1,123,345
$2,677,245
$160,975

The com p an y’s last annual rep ort show s “ net profits” fo r
the year ended M arch 81, 1902, including the su bsidiary
com panies, o f $1,182,596; all interest, $1,063,100; balance,
surplus, $119,496. These figures om it the item o f “ d ep recia­
9, B
C!n2.t
° Curtis, H. L. Burrage, O. M. Ryder. A. F. 8ort- tion, e tc .,” and m anifestly are com piled on a different basis
well E D Wbitford. all of Boston; Charles Hathaway of New York,
from the figures in the preceding table. T d ey were m en­
and Kenneth McLaren of Jersey City.—V. 76, p. 51.
Standard Chain Co.—R e iu ttion o f S tock .—The share­ tioned last w eek w ithout any d irect com parison, m erely be­
holders will vote Feb. 17 on the proposition to reduce the cause they suggested the query w hether the surplus as shown
capital stock from $3,000,000 to $1,500,000. About 90 p. c. in fo r the tw o periods m ight not indioate com parable results
mterest of the stockholders, it j8 said. have assented. See arrived at b y dissim ilar methods. V . 76, p. 210

terms in Y. 75, p. 926.

CW

In v e s tm e n t N ew s C o n tin u e d o n P a c e 2 7 4 .

THE

270

Im p o r ts

CHRONICLE.
n n &

d o c u m

[V ol. LXXVI.

e n ts .

T H E C O L O R A D O FUEL & IRON C O M P A N Y .
TEN TH

ANNUAL

R E P O R T — FOR T H E Y E A R

To the Stockholders o f the C olorado Fuel & Ir o n C om pany:
I subm it h erew ith a report o f the business o f y o u r C om ­
pan y for the year en d in g June 30th, 1902.
The net earnings from O perating D epartm ents carried to
the cred it o f Incom e A c co u n t w ere $1,801,925 27, a decrease
o f $340,746 53, as com pared w ith the p recedin g year.
The net earnings o f the F uel D epartm ent show a decrease
o f $9,132 07, and the Iron D epartm ent a decrease o f $318,133 31.
In the Fuel D epartm ent the p rod u ction o f coa l increased
756,678*25 tons, and o f cok e 212,761*95 tons.
The total N et E arnings from all sources a m ou n ted to
$2,033,110 76, w h ich p rovided fo r all fixed ch arges, sin k in g
funds, preferred stock dividends, e tc., lea vin g a balan ce o f
$531,831 61, w h ich was carried to the cre d it o f P rofit and
Loss.
The balance to the cred it o f P rofit and Loss a cco u n t is
$528,640 81, representing a ccru ed and u ndivid ed profits at
the close o f the current business year.
T he ap p lication o f N et Earnings to lin k in g Funds has been
on the usual basis as regards assum ed dep reciaton on a cco u n t
o f coa l and iron ore m ined, and an arb itra ry a m ou n t o f
$150,000 has been set aside to provide fo r the d ep recia tion in
value o f the steel w ork s plant at P ueblo, and $30,000 fo r the
L aram ie plant.
The total am ou n t o f N et E arnings set aside as S in k in g
Funds for depreciation o f property is $382,786 15, and an ad­
dition al am ou n t o f $82,890 28 (b ein g tw o cen ts per ton on all
coal and ore m ined) has been set aside as an E m ergen cy
F un d.
O f the entire S in kin g Funds provided fo r D ep recia tion o f
E quipm ent, w e have draw n on such fu n d s to redu ce the
book value o f E quipm ent as fo llo w s:
Fuel D e p a rtm e n t......................................$648,425 01
Iron D ep artm en t....................................... 222,752 29
STEEL WORKS IMPROVEMENTS.

The first n ew fu rn a ce was b low n in Septem ber 5, 1901,
bu t its operation has been v ery seriously handicapped b y
reason o f the n on -com p letion o f bins, ca stin g m ach in es and
oth er accessories.
None o f the oth er im provem ents are as y et in operation.
The delays have been very exasperating and are en tirely
due to outside con tractors. A s an exam ple o f the v e ry
serious delays en coun tered, the bins fo r the new fu rn aces
w h ich w ere to have been com p leted July 30, 1901, w ere n ot
com p leted u ntil N ovem ber, 1902. The engines and build­
ings for the differen t plants are none less than six m on th s
late.
FUEL DEPARTMENT IMPROVEMENTS.

There have also been an n oy in g delays in the im p rove­
m ents o f the F uel D epartm en t, bu t n ot to the ex ten t o f the
Iron D epartm ent.
D uring the year new m ines w ere opened up at H ezron,
T abasco, P rim ero and T ercio, and n ew ovens con stru cted at
R edstone, T abasco, S egundo and T ercio.
A t Prim ero, n ow our largest m ine, the first coa l was
shipped over a tem porary tipple Ju ne 26th, 1901. O w in g to
severe w ashouts on the railroad, the m ine was idle a fter
that for six weeks, du rin g w h ich tim e m an y o f the m en le ft
us. D espite this fa ct, the m ine p rod u ced last year 408,000
ton s o f coal.

E N D IN G JU N E 30, 1902.

COLORADO COAL & IRON COMPANY BONDS.

The rem aining C olorado Coal & Iron C om pany C onsoli­
dated M ortgage Six Per C ent Bonds, am ou n tin g to $2,441,000, were purchased and retired du rin g the year, and the
m ortgage released, and the same a m ou n t o f Colorado F uel
& Iron C om pany F ive Per C ent G eneral M ortgage Bonds
were issued in their stead.
DIVIDENDS.

D ividends on P referred S tock have been paid as fo llo w s :
D ividend N o. 18, fo r the six m onths en d in g June 30, 1901,
4 per cent, $80,000, was paid A u gu st 20, 1901.
D ividen d No. 19, fo r the six m onths en d in g D ecem ber 31,
1901, 4 per cen t, $80,000, was paid F ebruary 20, 1902.
A nd D ividend No. 20, fo r the six m onths en d in g Ju ne 30,
1902, 4 per cen t, $80,000, was declared payable A u g u st 20,
1902.
D ividends on C om m on S tock have been paid as fo llo w s—
all from surplus ea rn in gs:
D ividend No. 2, for the quarter en din g June 30, 1901,
per cen t, $402,232 25, was paid J u ly 15, 1901.
D ividend No. 3, fo r the qu arter en d in g S eptem ber 30, 1901,
1% per cen t, $402,232 25, was paid O ctober 15, 1901.
D ividen d N o. 4, fo r the quarter en d in g D ecem ber 31,1901,
1% per cen t, $402,256 75, was paid Jan uary )5, 1902.
D ividend No. 5, for the quarter ending M arch 31, 1902, 1%
per cen t, $406,066 90, was paid A p ril 15, 1902.
INDEPENDENT AUDIT OF ACCOUNTS.

In a ccord a n ce w ith previous cu stom the accou n ts fo r the
year have been audited b y Mr. Stephen L ittle, w hose ce r­
tificate accom pan ies this report.
By order o f the B oard o f D irectors.
J. A . K E B L E R , President.
D e n v e r , C olorado, D ecem ber 10, 1902.
N ote : On a cco u n t o f the postponem ent o f the A n n u a l
M eeting, the p u b lica tion o f th is R eport has been delayed,

FUEL DEPARTMENT TONNAGE STATEMENT.
P r o du c t io n .

In Tons of 2,000 Pounds.
Production,
Production,
Stock, on
Hand June Year tending Year Ending
30,1901. JuneZO, 1902. J un e30,1901.

Increase.

3,525,022-70
515,435-90

756,678-25
212,761-95

15,190 20 5,009,898-80 4,040,458-60

969,440-20

13,199-25 4,281,760-95
728,197-85
1,990-95

Coal.....................
C ok e................
Totals______

D isposition

of

P roduct.

In Tons of 2,000 Pounds.
Sales fo r
Year Ending
-/une30,1902.

Stock on
Hand June
30, 1902.
Iron Dept.

Used by Company.
Coke Ovens.

Hines.

Coal. 2,685,500-75 136,690-95 1,164,280 35 273,553-3<>
1,671-15 326,870-30
399,030-85
Coke

34,874-85
2,616-50

Tot’s 3,084,531-60 136,690 95 1,165,951-501 600,423-6i

37,491-35

EARNINGS, IRON DEPARTMENT.

The decrease in the earnings o f the Iron D epartm en t is
due to additional cost caused by op eratin g the steel w orks
w h ile so m u ch con stru ction was g o in g on, the n ew co n stru c­
tion in terferin g very seriously w ith th e operation o f the old
plants, and in con sequ ence it was on ly possible to operate
them at all at a largely increased expense.
EARNINGS, FUEL DEPARTMENT.

O f th e ad d ition al ton n age produced by the Fuel D epart­
m en t, on ly 283,000 tons ot coa l and 68,000 tons o f co k e w ere
sold, the C om pany using the b alan ce, on w h ich there w as
n o profit.
The decrease in earnings is due to the red u ction o f p rice
on large con tracts, w h ich was necessary to keep the business.

IRON DEPARTMENT TONNAGE STATEMENT.
P r od u c t i o n .

In Tons of 2,000 Pounds.
Production,
Production,
Stock on
HandJune Year Ending Year Ending
30, 1901. June 30,1902. June 30,1901.
Iron and Steel— 23,562*90
Iron Ore..............
Limestone...........

961,086 47
456,117-47
192,983-75

835,969-73
262,936 06
105,492*88

125,116*74
193, 81-41
87,490-87

Totals............ 23,562-90

1,610,187-69

1,204,398-67

405,789*02

D isposition

of

P r od u c t .

In Tons of 2,000 Pounds.

CONVERSION OF DEBENTURE BONDS.

D u ring the year $10,000,000 o f the n ew 5 per cen t 10-year
G old D ebenture B onds w ere issued; $931,000 o f th em w ere
con v erted in to com m on stock , leaving th e am ount ou tstan d ­
in g at the end o f the year $9,069,000; the expense and
discou n t o f these Bonds, am ou n tin g to $622,187 71, was
ch arged to E quipm ent, Iron D epartm ent; the interest on the
B onds, a m ou n tin g to $351,855 26, w «s ch arged to In com e,
although no returns have been received from the^.expenditures o f m on ey receiv ed from these Bonds. ;

Increase.

Sales
Year Ending
June 30,1902.

Vied by Company.
Hines.

8tock on
band Jutte
Steel Workt 30, 1902.
and Laramie.

222,320-27
67-60
31,398-47

4,359-66

717,898-08
456,049-87
161.585-29

40,071-35

Limestone.............
Totals...............

253,786-34

4,359-66

1,335,533-24

40,071-35

Iron and Steel........

----------------------------------------—
-------------

THE CHRONICLE

J a n u a r y 31, 1903.]

STATEM EN T O F E A R N IN G S A N D E X P E N S E S F O R T H E Y E A R
E N D IN G JUN E 30, 1902.
C om pared w ith the year en d in g Ju n e 30, 1901.
1901-1902
1900-1901
In e. or. Dec.
Gross E a rn in g s—
$
$
$
Fuel D epartm en t......... .
6,683,952 09 5 ,5 8 9 ,3 5 3 05 7. 1 ,094,599 04
Iron D epartm en t
___ 6,873,052 26 6 ,266,877 24
J. 6 06,175 02
D en ver R etail D ep artm ’ t
3 01,556 91
347,483 21
D. 45 ,9 2 6 30
P u eblo R eta il D ep artm ’ t
38 ,1 7 0 63
D . 38,170 63
M iscellan eou s...................
2,034 0 6
4,661 63
D. 2,627 57
T otals—gross E a r n .. 13,860,595 32 12,216,545 76 1 . 1 ,6 1 4 ,0 4 9 56
O p e r a tin g E x p e n s e s —

F uel D ep a rtm en t............. 5,723,851 75
Iro n D ep artm en t............. 5,858 ,0 9 7 55
D en ver R etail D ep artm ’ t
2 75,557 46
P ueblo R etail D eoa rtm ’t

4,620,119 64
4,933,789 22
313,221 01
3 7,356 20

7 .1 ,1 0 3 ,7 3 2 11
7. 924,308 33
D. 37,663 55
D. 37,356 20

T ota ls—O per’g E x p .. 11,857,506 76

9 ,904,486 07

7. 1 ,953,020 69

Net E a rn in g s F uol D e p a r t m e n t..........
9 60,100 34
ir o n D ep a rtm en t............. 1,014,954 71
D en ver R etail D ep artm ’t
25,999 45
P ueblo R etail D ep artm ’ t
M iscellan eou s..................
2,034 0 6
T o t a ls -N e t E arn ’g s.
Less M an agem en t...........
■Rq I a n

A

r i a r r i Ail

969,233 41
1,333,088 02
34,262 20
814 43
4 ,6 6 1 6 3

D. 9,1 3 3 07
D. 3 18,133 31
D. 8,262 75
P . 814 43
D. 2,627 57

2,003,088 56
2 (1 ,1 6 3 29

2,342,059 64
1 99,387 89

D 3 38,971 13
7. 1,775 40

1,801,925 27

2,142,671 80

D. 3 4 0 ,7 4 6 53

ta

In com e A c c o u n t ...

INCOME A CCO U N T F O R T H E Y E A R E N D IN G JU N E 30. 1902.
G ross E arnings from O p e ra tio n ............................................ $ 1 3 ,8 6 0 ,5 9 5 32
O perating E x p e n se s.............................. ..$ 1 1 ,8 5 7 ,5 0 6 76
M a n a gem en t................................................
201,163 29
------------------------ 1 2 ,0 5 8 ,6 7 0 05
Net E arnings from O p era tio n ................
$ 1 ,8 0 1 ,9 2 5 27
A d d : In com e from S ecu rities....................................................
45 ,7 9 2 44
5 C r...........................$ 1 9 5 ,8 6 9 53
In terest and E xch an g e: tD r ..........................
10,476 48
------------------185,393 05
T ota l Net E arnings from A ll S o u rce s.................................. $ 2 ,0 3 3 ,1 1 0 76
D ed u ct: F ix ed C harges and T a x es:
T a xes .................................................................. $ 1 1 1 ,1 5 6 13
B on d In terest:
C .C .& I Co Con M tg.B on d s $ 1 0 0 ,3 7 4 92
Less In terest on B onds in
Sinking F u n d ...................... 27 ,9 2 0 0 0 72 ,4 5 4 92
C. F. Co. G en eral M ortgage B o n d s .......
50 ,8 0 0 00
C. F. & L C o . G en eral M ortga ge B o n d s .. 185,958 34
C. F. < I. Co. D eb en tu re s........................... 35 1 ,8 5 5 26
&
In terest on F irst M ortga ge B on d s o f
G rand R iv er C oal & C oke Co., su b ject
to w h ich this C om pany h old s t it le ___
55 ,7 7 0 00
-----------------8 2 7 ,9 9 4 65
Surplus o v e r F ix ed C harges as a b o v e .................................. $ 1 ,2 0 5 ,1 1 6 11
L ess: P rov ision fo r Sinking F unds fo r Coal
and Iron M ined, etc:
F uel D epartm ent E q u ip m e n t.......................$ 1 3 0 ,4 3 5 24
Iron D ep artm en t E q u ip m e n t............................. 1 7 1 ,0 3 0 23
R eal E state:
F uel D ep a rtm en t...................$4 5 ,2 0 5 20
6,115 48
Iron D e p a r t m e n t ..................
^
_____ ___
51 320 68
E m ergen cy F und ........................................
82,890 28
P erson al Injury F u n d ............................................
6,0 0 0 00
, F ire In su ran ce F u n d ..............................................
24,000 00
Iron D ep a rtm en t E quipm en t, L aram ie
P lant F u n d ............................................................ 30,000 0 0
S ociological D e p a rtm e n t....................................
17,608 07
-----------------5 1 3 ,2 8 4 50
Surplus after d ed u ctin g Sinking Funds, e t c .......................
> Out o f which w ere d ecla red the fo llo w in g
.
p Dividends:
Preferred S tock No. 1 9 ........ . ...................... $ 8 0 ,0 0 0 00
P referred Stock No. 2 0 ..................................
80 ,0 0 0 00
-----------------Surplus, after d ed u ctin g S inking Funds
P referred
Stook D ivid en d s, etc., carried to th e cred it o f P roflt
and L o ss............................. . ....................................................

$ 6 9 1 ,8 3 1 61

Increase of Cash L iahilities.......................................
Certificates of Deposit...........................
$10,471 30
Unpaid Vouchers........................... .......
581,738 59
Unpaid Pay Checks .............................
155,497 26
Interest on Funded Debt (Accrued)......
173,820 83

922,527 98

D e c r e a s e o f S e c u r it ie s ..................................
58 C olorado Fuel Co. B on d s ......................ij
52 C olorad o Fuel & Iro n Co. B o n d s ........
10 Shares o f C olorado S upply Co. S tock .

111,000 00

58.000 00
52.000 00
1,000 00

T ota l to b e accou n ted f o r ........................................................ $ 1 8 ,6 3 6 ,2 9 2 83
A p p l ic a t io n .
I n c r e a se o f P r o p e r t y A ccou nts ....................................... $ 9,319,316 82
(Statem ent, follow iii g.)
R o y a l t ie s on L e a s e d L an ds , P a id in A d v a n c e ...........
13,857 67
I n c re ase o f Cash A s s e t s ....................................................
2,500,354 14
The C olora d o & W vom in g R a ilw a y C o ..$ l,6 2 2 ,5 6 5 73
T he Crystal R iv e r R a ilroa d C o m p a n y ..
484 ,2 7 9 01
B ills R e c e iv a b le .............................................
233,578 39
T he M ou n tain T eleg ra p h C om p a n y .......
15,487 55
'J he M innequa C oopera ge C o m p a n y ___
19,586 41
T he P u eb lo R ealty T ru st C o m p a n y .......
40,297 00
T h e R ock y M ountain C oal < Iro n C o ...
fc
49 .4 3 0 87
The R o ck y M ou ntain T im b er C om pany.
35,129 18
Cash L i a b i l i t i e s R e d u c e d .....................................................
C. F. Co. G en eral M ortgage B on d s......... $19 5 ,0 0 0 00
C. C. & I. Co. Con. M ortg a g e B o n d s ....... 2,441,000 00
In terest on G. R C. A C. Co. B o n d s ........
270 00
B ills P a y a b le ..................................................
536,399 56
The C olora d o S u pply C o .............................
171,099 44
U n vou ch ered T a x e s.....................................
1 1 ,6 0 1 4 8
I n c r e a se o f S e c u r it ie s ..................................
990 Shares o f Colo. & W y om in g R y. Co.
S tock ............................................................
I n c re ase o f W o r k in g C a p i t a l ..................
C oal M ine D e v e lo p m e n t.............................
C ustom ers and O thers ...................... ........
C entral T rust Co., T ru stee.........................
A tla n tic T rust C o., T ru ste e ......... .............
H en ry K. M oH arg, T ru s te e .......................
F u el D ep a rtm en t S u p p lie s........................
Iron D epartm en t S u p p lie s........................
Iro n D ep artm en t M an u factu red S tock s.
A ccru e d E arnings on S ecu rities..............
M is c e l l a n e o u s F u n d s ....................................
P erson al I n ju r y .............................................
F u el D ep artm en t E q u ip m en t S inking
F u n d .............................................................
Iro n D epartm en t E q u ip m en t Sinking
F u n d ...............................................................

3 ,3 5 5 ,3 7 0 48

99 ,0 0 0 00
$9 9 ,0 0 0 00
4 3 ,7 8 4
524,553
583
5,500
771
91,080
367,207
174,104
748

74
32
91
00
99
28
18
25
68

$2,512 55

1 ,2 0 8 ,3 3 4 35

572,224 38

517,989 77
51,722 06
1,567,834 99

T ota l A cco u n te d F o r ......................................................... .$ 1 8 ,6 3 6 ,2 9 2 83
$ 5 31,831 61

5 2 8 ,6 4 0 81

73,343 43
5 7 ,5 9 5 89

$ 2 ,6 4 7 ,4 6 7 81 $ 2 ,6 4 7 ,4 6 7 81
By balance to credit o f P roflt and Loss, Ju ne 30, 1902.
as per C om parative B alance Sheet (page 2 7 2 )..............

Decrease of Cash A ssets............................................. 4,709,381 33
Car-h
...................................
$1,322,622 36
The Colorado Finance & Construction
Co.. Contract No. 1............... ............. 206,"58 97
The Colorado Finance & Construction
Co., Contract No. 2 .............................. 3,180,000 00

160,000 00

299,685 02

To balance.

APPLICATION OF NET SURPLUS AND RECEIPTS FROM OTHER
SOURCES FROM JUNE 30, 1901,TO JUNE 30, 1902
R eceipts.
C. F. & I. Co. General Mortgage Bonds Issued............... $2,637,00001
C. F. < I. Co. 5% 10-year Convertible Gold Debentures.. 9,069,00000
fe
Increase or Capital Stock ..........................................
931,00009
9,310 Shares of Common Stock Issued.. $931,000 00
Miscellaneous F unds....................................................
256,38352
Payment of Taxes...................................
25,000 00
21,154 85
Firelneurance...................
Repairing Furnaces................................
56,998 36
Fund for Emergencies.............................
41,909 63
Real Estate Sinking Fund.......................
51,320 68
Laramie Plant and Equip. 8ink. Fund.
60,000 00

P r o f it a n d L o s s ............................................. ...........................
B y B alan ce at C redit J u n e 3 0 ,1 9 0 1 — $ 2,096,475 80
B y B a la n ce at C redit Ju n e 3 0 ,1 9 0 2 . .
528,640 81

G E N E R A L P R O F IT A N D LOSS ACCOUNT.
(A d ju stm en ts th erein fo r y e a r en d in g J u n e 30, 1902.)
By balan ce surplus Ju ne 3 0 ,1 9 0 1 ......................................... $2,09 6 ,4 7 5 80
B y surplus lo r year en d in g Ju n e 3 0 ,1 9 0 2 , as p e r in ­
com e a cc o u n t.............................................................................
531,831 61
By profit on sale o f N ew M ex ico R y . & Coal Co. Securities
19,160 40
To depreciation on 67 C F. &
I. Co. Coal C a r s ....................
$ 17,011 30
T odividen ds uncom m on stock
Nos. 2, 3, 4 and 5 p aid dur­
ing y e a r ....................................
1,612,788 15
T o bond and stock ex p en ses
durlDg the year ......... ........
11,434 38
To prem ium paid on variou s
bonds pu rchased d u rin g the
year
21,451 33
To discou n t on C. F. & I. Co.
bonds s o ld ................................ $ 30,750 00
L e ss: Prem ium on sa m e___
5,2 3 2 50
25 ,5 1 7 50
To accretions o f h osp ita l fund
heretofore cred ited to p rofit
and loss, n ow reversed and
added to the f u n d .................
To Fuel and Icon D epart­
ments—net loss on accou n t
of adjustm ents ......................
To other adjustm ents during
the year to debit o f profit
and loss diroot .. .........
335,668 43
Less. A djustm ents for sam e
period to cred it 'o f p rolit
aud loss d i r e c t .......................
35,983 46

271

$ 5 2 8 ,6 4 0 SI

C U R R E N T RESO U RC ES A N D L IA B IL IT IE S JU N E 30, 1902.
C ash an d C o n v e r t ib l e A ssets .
J un e 30, J u n e 30,
In crea se or
1902.
1901.
Decrease.
A ccount—
$
$
$
Cash on H an d............................................. 4 6 s ,469 1,791,092 D. 1,322,622
C ustom ers’ F uel D e p a rtm e n t............... 4 19,210 375,577
I. 43,683
Customers* Iron D ep a rtm en t............... 5 9 4 ,9 '0
472,777
I. 122,203
C ustom ers’ D enver R etail D epartm ’t.
17,014
15,546
I. 1.468
C ustom ers’ P ueblo R etail D ep a rtm ’t ...................
2,925
D. 2,925
C ustom ers’ L os A n g eles D ep artm en t.
970
951
I. 18
D ue from In d iv id u a ls and
C o m p a n ie s...................... $ 5 9 7 ,6 8 4
Less: Offsets due to In d i­
vid u a ls and C om p a n ies..
8,689
----------------- 5 8 9 ,995 228,889
J. 360,106
B ills R e ce iv a b le ............................
245,455
11,876
I. 233,578
Central T rust C om pany, T ru ste e ........
3,749
3,165
J 584
H en ry K. M cH arg, T ru s te e ..................
1,044
272
I. 772
A tla n tio T rust C om pany, T r u s te e ___
5,500
.............
I. 5,500
Coal and C oke on Hand at M in es.......
41,426
20,699
I. 20,727
Coal and C oke on H and at D en v er . . .
2 9,506
26,202
1. 3.303
C oal and C oke on H an d at P u e b l o .......................
4,395
D 4,385
Coal and c o k e on H and at L os A n g eles
4.202
284
I. 3,918
Fuel D epartm en t S u p p lie s.................... 23 0 ,549
1 6 3 ,0 3 1
I. 67,517
Iron D epartm en t S u p p lie s....................1,283 741
916,534
I. 367,207
J. 174,104
Iron D epartm ’ t M anufactured S to ck . 6 99,627 525,523
D 12.000
Securities, S tock s & B onds, as per list 9 40,128 952,128
The C olorado & W vom in g R y. Co ....1 .9 5 7 ,0 9 1
334.515 '. 1,622 5 6
I. 484.279
The C rystal R iver R R Co .................. 3 14,118 J r.1 7 0 ,161
The M ountain T elegraph C o ................
15.488
...........
J. 15 488
I. 19,586
The M innequa C oopera ge C o ...............
l u,596
.........
I. 40,297
T he P ueblo R ealty Trust C o ................
40,297
. . . . ----I. 49,431
The R ock y M ountain Coal < Iro n Co.
fe
4 9,431
............
The R ock y M ountain T im b er C o .......
35,129
.............
I . 35,129
The C olora d o F in a n ce & C onstruc­
206,759
D. 206,759
tion C om pany. C on tra ct No. 1 ..........................
T he C olorado F in an ce & C onstruc­
tion C om pany C ontraot No. 2 ............................ 3,160,000 D. 3,180,000
26,968
1. 749
U n co lle cte d D ivid en d s and I n te r e s t ..
27,717
T ota l Cash and C on vertible A s s e ts .8.033,462 9,089,939 D. 1,056.47s

TH E

272

C H B O N IC LE .

Cash L ia b ilitie s .
June 30, June 30, Increase or
Decrease.
1901.
1902.
$
$
Account—
$
536,400 D. 536,400
Bills P ayable.
I. 10,471
18,335
28,806
I. 527,087
1,232.405 705.318
I. 54,751
. 248,280 193,628
I. 156,497
606,562 450,065
Unpaid Pay Cheoks (Cur’nt Month).
424
424
Unclaimed Dividends. ......................
80,000
80,000
Dividend Preferred Stock—Accrued.
Interest on Funded Debt, accrued
I. 173,821
306,383 132,563
Interest on G. R. 0 & O. Co. Bonds,
14,010
D. 270
13,740
Unpaid Interest and D iv’ d s ...$3,893t
Less: Casli in Bank to pay
yu
yu
same ........................ ........... 3,893:
D. 171,099
98,563 269,663
11,601
D. 11,601
Unvoucbered Taxes.
.2,615,164 2,412,006

I. 203.158

[V ol . LXXVI.

CONSOLIDATED
F or

the

Nine Y ears

INCOME ACCOUNT

E ight M onths , N ovember l , 1892,
J une 30, 1902.

and
to

N et E arnings from Operations :
$
Fuel Departm ent.................................................... 7,612,826
Iron D epartm ent.................................................... 5,161,735
T otal N et E a r n in g s ..........................................12,774,561
Less Management Expenses common to both
Departments............................................................ 1,418,249

Average
Per Tear.
9

787,534
533,973

1,321,506
146,715

Resulting N et E arnings .................................. 11,356,312 1,174,791
Add Incom e from Other Sources:
$
Incom e from Securities................... 280,104
Interest and Exchange.................... 185,393
Miscellaneous Earnings......................
72,040
537,537
55,607
T otal N et Earnings from A ll
L
Sources ...................................
.11,893,849
Deduct Fixed Charges and Taxes
Interest on Funded and Floating
?
D ebt................................................ 4,179,814
4,179,814
4,719,264
Taxes................................................... . 539,450
539,450

1,230,398

INCREASE OF PROPERTY ACCOUNTS, JUNE 30, 1901,
TO JUNE 30, 1902.
488,200
Real Estate...........................
$668,520 72
..7,174,586
742,198
Miscellaneous equipm ent...........................
16.946 16
Fuel department equipm ent........................................................... 1,260.038 70 D educt Sinking Funds, etc.:
Hospital building and equipm ent................................................. 170,696 13 Fuel Department Equipment.......... 778,869
Sociological equipment
.......................
7,468 69
Iron Department Equipm ent......... 623.730
Iron department equipm ent............................................................ 7,195.640 42 Real Estate—F u el............................. 303,658
.
Real Estate—I r o n .............................
.
65,477
Net in c r e a s e ....................................
$9,319,316 82
Em ergency F u n d .............................. 274,039
Personal Injury Fu nd.......................
48.000
48,000
CONDENSED COMPARATIVE BALANCE SH E E T -J U N E SO, 1902.
Fire Insurance....................................
86,005
.
Com pared w ith Y ear E nding J une 30, 1901.
60,000
Laramie Plant Fund.........................
,.
ASSETS.
Sociological Departm ent..................
17,608
2,257,386
233,523
June 30,
June 30,
N f t S u r p l - s ...........................................................4,917,199
.
508,6761902.
1901.
Inc. or Dec.
Account—
$
$
$
D educt D ividends P aid :
Real Estate......................................... 16,810,915 16,142,388 7. 668,527
Preferred Stock.................................. 1,546,667
Equip.—Fuel Dept ..D r. $ 5,679,740
Common 8tock............................................................ 1,728,314 3,274,981
C r._ 648.425 5,031,315 3,771,276 7.1,260,039
Equip.—Iron D e p t..D r. $15,301,301
Residue carried to the Credit o f P rofit and
Cr.
222.752 15,078,549 7,882,909 7.7,195,640
Loss.. .. ..............................................
1,642,218
E quipm en t-M iscellaneou s............
136,492
119,546
7.16,946 Less adjustments to the debit o f P r o fit and
Equipment—Sociological.................
7,469
..............
7. 7,469
L oss direct in excess o f adjustments to the
Hospital D epartm ent........... ... ........
217,321
46,625 7.170,696
credit th eieof for the i ame period...................... 1,113,577
Coal Mine Developm ent...................
142,200
98,415
7.43,785
Royalties on Leased Lands paid in
Balance to the credit o f P rofit and L oss June
59,017
45,159
7. 13,858
advance ..........................................
30 ,190 2, as per previous ta ble............................
528,641
Cash and Convertible Assets (as
per statem ent)................................ 8,033,462 9,089,939 D .l,056,478
Total Assets.................................. 45,516,738 37.196,256 7.8,320.482
LIA BILIT IES.
June 30,
June 30,
1902
1901
Inc. or Dec.
Account—
$
$
$
Capital stock—Preferred............ .
2,000,000 2 ,000,000
Capital stock—Com m on.................... 23,931,000 23,000,000 7. 931,000
880,000 D. 195,000
Colo. Fuel Co. Gen M 6% bonds
685,000
2.441.000 D 2,441.000
Colo. C & Iron Co.Con.M 6% Bonds
Colo F & Iron Co Gen.M 5% Bonds 5,311,000 2.674.000 7 2,637,000
7.9,069,000
Colo F & I.Co.5% 10-Yr Con.G.Deb. 9,069,000
35,000 7.
Fund for Payment o f T axes..............
60,000
25,000
2,513
30,345 D.
Fund for Payment o f Personal iDj’y
27.832
37,764 7.
Fund for Payment o f Fire Insur.
59,919
21,155
56.998
29,146 7.
Fund for Re lining Furnaces..........
86,145
41,910
82,125 7.
Fund for Em ergencies......................
124,035
Sink. Fu—Fuel Dep.Equ.Cr. $838,315
707,880 D. 517,990
Dr. 648,425
189,890
Sink. Fu—Iron Dep Equ Cr $623,730
Dr. 222.752 4 00,978
Sink. Fu —Laramie Plant and Equi.
60,000
Sinking Fund—Real Estate....... ..
369,135
Cash liabilities (asper statem ent).. 2,615,164

452,700 D.
317,814 I.
2,412,006 7.

51,722
60,000
51 321
203,158

Total Liabilities...........................44,988,097 35,099,780 7.9,888,317
Profit and loss to balance, being ex­
cess of assets over all liabilities
528,641 2,096,476 D .l,567,835
Total.............................................. 45,516,738 37,196,256 7.8,320,482
SECURITIES OWNED B Y TH E COMPANY JUNE 30, 1901.
Snares.
Stocks.
Face Value. B tok Value
1,157 The Colorado 8upply C o................... $115,700 00 $115,700,00
304 The So. Pueblo Homestead & Build­
ing Association................................
15,200 00
19.000 00
3,312 The Crystal River Railroad C o . . .. . 331,200 00
303.713 65
99,000 00
990 The Colorado & Wyoming Ry. C o ...
99.000 00
500,000 00
5,000 The Pueblo Realty Trust C o............
402.714 13
$1,061,100 CO $940,127 78

D e n v e r , C ol., Sept. 3, 1903.

J. A. K e b l e r , E sq .,
P resid en t The C olora d o F u el & Ir o n C o., D en ver, C ol.:
D ea r S i r :—P ursuant to y o u r req u est, I b e g to rep ort that
I h ave m a d e m y usual a n n u a l v isit to D en ver, an d in th e
A u d it office o f y o u r C om p a n y have e x a m in e d and verified
I.
T he G en eral P rofit an d L oss A c c o u n t o f y ou r C om pany,
w ith all a d ju stm en ts th e re in , fr o m J u n e 30, 1901, to June
30, 1902, resp ectiv ely .
II.
T he E a rn in gs a n d O p era tin g E xp en ses and In co m e A c ­
c o u n t o f y o u r C om p a n y fo r th e fiscal y ea r en d ed Ju n e 30,
1902.
III.
Its G en eral B alan ce Sheet a t J u n e 30, 1902.
I th e re fo re h e re b y c e r tify that th e elem ents co n stitu tin g
su ch a cco u n ts an d B a la n ce S h eet are fu lly and fa irly set
fo rth , and reflect tr u th fu lly the tra n sa ction s o f the year
u nd er re v ie w , an d th e fin a n cia l c o n d itio n o f th e C om p an y
at th e en d th ereof.
E very cou rtesy an d fa c ility n ecessa ry to m y ex a m in a tion
w as exten d ed to m e b y y o u r A u d ito r , an d m y thanks are
due to h im a cc o r d in g ly .
Y o u rs v e ry tru ly ,
(S ig n e d .)

S te ph en L it t l e .

V I R G I N I A IR ON, C O A L & C O K E C O M P A N Y .
A P P L IC A T IO N

TO

NEW

YORK
STOCK
EXCHANGE
TO L IS T F IR S T M O R T G A G E
5 0 -Y E A R C O U P O N B O N D S A N D C A P IT A L ST O C K ,

N e w Y o r k , J a n u a ry 21, 1903.
A p p lica tio n is m a d e to th e C om m itte e on S to c k L ist o f th e
N ew Y o rk S tock E x c h a n g e to list th e b on d s and sto ck o f the
V irg in ia Iron , Coal & C oke C om p a n y, as fo llo w s: $6,993,000
first m ortg a g e five per ce n t 50-year g o ld co u p o n b o n d s o f
1949, fo r $1,000 ea ch , in clu d e d in Nos. 1 to 9,970, an d
$8,641,600 ca p ita l stock .
T he V irg in ia Iron , C oal & C oke C om p a n y w as g ra n ted a
ch a rter b y the C om m o n w e a lth o f V irg in ia on th e 10th d ay
o f J a n u a ry , 1899. It w as a u th orized to issue $10,000,000 o f
first m ortg a g e bon d s a n d $10,000,000 c a p ita l sto c k . T he
co m p a n y , a fte r its c re a tio n , issued all o f its bon ds and sto ck ,
e x ce p t $30,000 o f bonds, fo r the p u rchase o f p ro p e rty and fo r
co lla te ra l to secu re p a y m e n t o f m o n e y b o rro w e d an d to

F IV E

PER

CEN T

re tire p rior lien s e x istin g on th e p rop erty , an d oth er ob lig a ­
tion s. T he c o m p a n y b e ca m e in solv en t an d w as p laced in
h a n d s o f re ce iv e rs; d u rin g the re ce iv e rsh ip , w h ich con tin u ed
fro m F eb ru a ry 6, 1901, th e date o f the a p p oin tm en t o f the
re ce iv e rs, to J a n u a ry 1, 1903, a t w h ic h date, th e receivers
w ere d isch a rg ed an d th e co m p a n y took possession o f its
p ro p e rty , the a m ou n t o f b on d s, b y p a y m en t o f m on eys on
the part o f the r e ce iv e rs’ co m m itte e on reorg a n iza tion and
th e sin k in g fu n d , b y m a k in g p u rch ase o f sam e, was red u ced
to $7,822,000.
T h e M an hattan T rust C om p an y h old s $829,000 b on d s for
th e purpose o f r e tirin g $585,000 C arter C oal & Iron C om pany
five per ce n t b on d s o u tsta n d in g , w h ich fall due O ctob er I,
1938, an d $100,000 V irg in ia & T enn essee C oal & Iron

THE

January 31, 1903.]

Com pany six per cent bonds outstanding, falling due March
1. 1904. Both these m ortgages are underlying m ortgages
on the property. The com pany has the right to call for
redemption the Carter Coal & Iron Company bonds at 105
and interest
.
The First M ortgage Bonds are part o f an authorized issue
o f $10,000,000, and are secured by m ortgage dated February
23, 1899, to the Manhattan Trust Company, Trustee. They
are num bered from 1 to 10,000, inclusive, and are dated
March 1, 1899, and mature March 1, 1949, interest payable
March 1 and September 1 in each year, at the office or agency
o f the Company in the City o f N ew Y ork, at the rate of Five
per Cent per annum. Both principal and interest are p a y ­
able in gold coin o f the U nited States of the present stand­
ard. The bonds are in coupon form , for $1,000 each, w ith
the right of registration as to principal only.
Bonds have been issued as follow s:
Held by the Manhattan Trust Company, Trustee,
Nos. 763-1,500 and Nos. 1,859-1,949, to retire
prior liens................. ' .................................. ----- $829,000
■Canceled under resolution of the Board and by
the ( peration of the Sinking Fund................... 2,178,000
Outstanding.

273

CHRONICLE.

$3,007,000
6,993,000

ber, 1902, coupon. The coupon due Septem ber, 1903, was
funded into scrip draw ing interest from Septem ber, 1903,
the average date o f the three funded coupons. The bonds,
for thetlisting o f w h ich application is now made, bear the
semi-annual cou pon due March 1, 1903, and the semi annual
coupon due March 1,1904; also coupons due Septem ber 1,
1901, and sem i-annually thereafter.
B alance Sheet, show ing the con dition o f the Com pany on
January 1, at w h ich tim e the R eceivers were discharged, is
as follow s:
DebUs
Real estate and plant................
Equipment account............. .
Sales, ledger balances................
Sundry bills, ledger balances...
Open accounts........................... .
Bills receivable....................—
Advances to cashiers................
Cash balances, Commissaries..
J. W. Cure. Treasurer................
Stock of raw material on hand:
Pig iron ..................................
Other products.......................
Raw material...........................
Supplies ................................ .
Merchandise.............................
Farm products........................

$17,771,128 95
79.915 05
844,439 32
14,50-5 38
29,377 93
135,310 87
15,9«2 20
2 252 92
35,231 32
.$60,304
. 31.076
.294,097
.167,194
.117,041
. 13,544

56
45
12
25
36
98

$ 10,000,000

686,258 62

, $8,641,600
1,358,400

Total amount of bonds as authorized...
Capital Stock Issue 1 as follows:
issued and In the hands of the public,
In the treasury of the Company........

$19,614,383 56

Total amount of stock as authorized..................................... $10,000,000

The properties owned b y this C om pany include in all
eleven blast furnaces: tw o at R oanoke, V a ., one at R adford,
V a., one at Pulaski, V a., one at Max M eadows, V a., one at
Graham, V a., one at Bristol, T e n n .,o n e a t Johnson City.
T enn., one at Emb~eevi)le, V a., and tw o at Middlesboro,
K y . The furnaces at Graham and Johnson City are leased
to other parties.
The Em breeville furnace is not in
operation; all the other furnaces are in a ctive operation by
this Company.
The Company also owns a w ell equipped plant, consisting
o f a pipe foundry, w ith some 17 other buildings, brick and
fram e, at Radford, V a., w hich are leased to the Glam organ
Pipe & Foundry Company; also plant for m an u factu rin g o f
horseshoes and bar iron at Max M eadows, V a ., w h ich is not
now in operation. It also owns 950 coke ovens, 150 located
at its Looney Creek m ine, V a., and 800 at Toms Creek, Va.
It owns absolutely in fee about 32,000 acres o f land, o f w hich
a large part are coal lands, and the m ining rights on about
48,000 acres coal lands additional in V irginia. It also owns
about 05,000 acres o f coal lands in the State o f K en tu ck y.
In Tennessee it ow ns some 40,000 acres o f ore land, and by
con trollin g interest in the different properties large
amounts of iron ore a n l limestone properties. The proper­
ties are free from liens other than here stated, excep t real
estate lien on the Dora Furnace Co., estimated at $28,000.
The Com pany was in the hands o f the Receivers from Feb­
ruary 6, 1901, to D ecem ber 31, 1902. From June 1, 1902, to
January 1, 1903, its net earnings were $794,572 73.
Under the Plan o f R eorganization o f the Com pany, a c ­
cepted by practically the entire am ount o f outstanding bonds,
and w hich was prom ulgated A ugust 1,1902, it was agreed that
the depositing bondholders should fund the semi-annual cou ­
pons m aturing Septem ber 1,1901, September 1,1902, and Sep
tem ber 1,1903. On deposit of the bonds w ith the Manhattan
Trust Com pany the bondholders receivedcash payment o f the
March, 1901, and March, 1902, semi-annual coupons. Later,
ow in g to the large receipts from the operations o f the prop ­
erties, the Receivers were enabled to pay on O ctober 1 the
Septem ber, 1901, coupon, and on D ecem ber 1 the Septem ­

Oreditt—
First Mtge. Bonds, Va I.,0 . & C. Co. outstanding........ $9,967,000 00
In hands of Manhattan Trust Co:
To retire prior liens........................................ $829,000
In hands of Company.................................... 1,835,000
--------------- 2,664,000 00
$7,303,000 00
Prior liens outstanding:
Toms Creek O. & C. Co.
Va. & Tenn. C. & I. Co
Carter C. & I. bonds...

$69,500
100,000

585,000
------------

754,500 00

Bonds outstanding.......... .................................................... $8,057,500 00
Stockoutstanding.................................
10,000,000 00
Unpaid vouohers and pay-rolls and acoounts payable..
300,463 93
Taxes accrued .....................................................................
5,285 78
Fund for depreciation coal ore lands and furnace re ­
pairs . ...
343,673 45
Accrued profits..................
907,459 40
$19,614,383 56

1

Transfer A gen cy for the Stock and R egistrar fo r the
Bonds: The M anhattan Trust Company.
Registrar for the Stock: The Chase National Bank.
D irectors o f the Com pany: Grant B. Schley, E. J. Barwind, George A . C rocker, W atson B. Dickerm an and C. B.
Squire, all o f New Y ork C ity; George L. Carter, B ristol,
T enn .; H enry K . M cH arg, Stam ford, Conn.
Officers: H enry K . M cHarg, President; A rthur A. Phlegar,
| V ice-P residen t; John B. N ew ton, General M anager; J. W .
Cure, Secretary and Treasurer.
A nnual M eeting: The third Tuesday in M ay in each year.
The Com pany agrees that it w ill, at least once in each
year, publish a report w ith detailed financial exhibits.
H E N R Y K. M cIIA R G , President.
The Com m ittee on Stock Lists recom m ends that the
above-described $6,993,000 First M ortgage Five per Cent
60-Year Coupon Bonds o f 1949, for $1,000 each, included in
Nos. 1 to 9,970, and $9,641,600 Capital Stock, be adm itted
to the list.
W . H. G r a n b e r y , Chairman.
W m . M c Cl u r e , Secretary.
Adopted by the G overning Committee, January S 8,1903.

VIRGINIA & S O U TH W ES TER N RAILWAY C OMPANY.
A P P L IC A T IO N

I

TO N E W

YORK

STOCK

E X C H A N G E TO LIST
P E R CENT BONDS.

N ew Y o r k , January 21, 1903.
Application is made to the C om m ittee on Stock List o f
the New Y ork Stock E xchange to list $2,000,000 First Mort­
gage O per Cent Bonds of 2003, for $1,000 each. Nos. 1 to
’
2,000 inclusive. Total authorized issue o f bonds, $2.n00,000.
The M ortgage, dated Sept. 18,1902, is due Jan. 1, 2003. In­
terest is 5 percen t, coupons due Jan. 1 and Ju ly 1. Morton
Trust Company, Trustee o f the M ortgage. Bonds are all
coupon; registration as to principal only. A ll the bonds
have been issued and are in the hands o f the public,
guaranteed principal and interest by the V irgin ia Iron
Coal & Coke Com pany, the guarauty reading as follow s :
“ For value received the Virginia Iron Coal < Coke Company
fe
guarantee the payment of the principal and interest of this bond ac­
cording to its terms.
V irginia I ron Co a l & Co k e C o mp an y
‘ Attest:
...............Secretary.
B y ............President.”

The V irginia & Southwestern Railw ay Com pany is su c­
cessor Com pany to the South A tlantic & Ohio R ailw ay
Companj-, w hich latter Com pany was chartered May 17,
1877, and p roj-cted to run from Bristol, V a.-Tenn.. to Big
Stone Gap, Va., a distance o f seventy miles, and w hich was
extended in 1889 a distance o f five miles to Natural Tunnel,
the line to Big Stone Gap being com pleted about May 1,
1890. This road (the South A tlan tic & Ohio) went into the

FIRST

M ORTGAGE

GUARANTEED

F IV E

hands o f a R eceiver in 1892. It was sold under foreclosure
April 16, 1898, and bought in b y the bondholders. In
January, 1899, a syndicate purchased the road and also
bought the B rist:l Elizabethton & North Carolina R ailw ay,
exten din g from Bristol to Elizabethton, a distance o f
tw enty-tw o miles The V irgin ia & Southwest rn R ailw ay
was organized January 19, lt>99, to take over the railroad
property, since w hich tim e the road has been extended to
run from Mountain C ity, T enn., to Inman, Va., w ith jo in t
trackage ownership w ith the L ou'sville & Nashville over
the line from A p p ila ch ee to N orton, where connection is
made w ith the N orfolk & W estern, a total mileage o f 130-73.
The com plete m ileage covered by the m ortgage is as follow s:
Main line, Inman to Mountain City......................................127-09 miles
Stony Creek extension............................................................. 7 07 “
Elizabethton spur.....................................................................
'70 “
Side tracks, yards and yard tracks........................................ 15 06 “
Total ................................................................................... 150 73

“

The M ortgage covers all the property o f the Com pany, in ­
clu din g equipment.
INCOME ACCOUNT.
1901. Gross earnings.$411,901 28 Net earnings.............. $145.092 40
1902.
“
“
. 535,66198
“
“
............... 210,407 73
(December estimated.)

274

THE

CHRONICLE.

[V ol. LXXVI.

'Ehc Commercial Tpmcs.

GENERAL BALANCE SHEET JANUARY 1, 1903.
Debits.
Roadway and structures..............................................................$3,747,715 16
Rolling stock ....................................................$115,009 40
COMMERCIAL
EPITOME.
New equipment.................................................. 296,078 52
-----------------411.087 92
F r i d a y N ig h t , Jan. 80, 19C3.
Due from agents, individuals and companies..........................
3.3,03800
Stock of general material............................................................
36,357 10 The m ovem ent o f m erchandise in to the hands o f the co n ­
Bills receivable ..................................
20 42 sum ing trade has continued on a liberal scale, m anufacturers
Receivers V I. C. & C. C o............................................................
50,18579
Cash on hand.................................................................................
33,263 23 and dealers quite generally reporting a good , steady demand
Credits.
Capital Stock......................................................
First mortgage bonds.....................................
Unpaid vouchers................................. .............
Unpaid pay rolls............... ................................
Accrued ta x e s ............. ....................................
L, < N RR. double tunnel interest]account
fc
L. & N. RR, tunnel cut account.....................
Traffic balance..................................................
Bills payable ......................... ........................
Option a c c o u n t...............................................
Egolf refund account.......................................
Strong refund a ccou n t..................................
Income to December 3 1 , 1901........................
Income January 1 to December 31, 1902...

$4,311,667 92
.

$ 2 ,0 0 0 ,0 0 0 00
2 , 000,000 00

12,458 23
19,103 18
4,162 59
3,406 91
3,000 00
9,948 11
16.850 00
20,000 00

.

4,870,54
1,556 47
119,399 15
96,912 74

$4,311,667 92

T ransfer A g e n c y for the stock and R egistrar fo r the bonds,
the M orton Trust Com pany.
R egistrar fo r the stock , the M anhattan C om pany Bank.
D irectors of the C o m p a n y . —G rant B. S ch ley, N ew Y ork
C ity ; E. J. E erw ind, N ew Y ork C ity; G eorge A . C rocker,
N ew Y ork C ity; A rch e r A . Ehlegar, R a d ford , V a .; C. B.
Squire, N ew Y ork C ity; George L. Carter, Bristol, T en n .;
H en ry K . M cH arg, S tam ford. Conn.
O ffic e r s .— H en ry K . M cH arg, President; A rch e r A.
Phlegar, V ice-P resid en t; John B. N ew ton, G eneral M an­
ager; J. W . Cure, Secretary and Treasurer.
A n n u al m eetin g the th ird Tuesday in May in each year.
H E N R Y K . M cITARG, President.
T h e C om m ittee on Stock: Lists recom m en d s that the
above-described §2,000.000 First M ortgage G uaranteed 5 per
C ent 100-Year Coupon Bonds o f 2003, for §1,000 each , N os. 1
to 2,000 in clusive, be a dm itted to the list.
W . H . G r a n b e r y , Chairm an.
W m . M c C l u r e , Secretary.
A d op ted by the G overning C om m ittee Jan, 28, 1903.
U n ited T elep h o n e Co., B ln ffto n , In d .— B ond s.— W e are
favored w ith the fo llo w in g :
The first mortgage will secure $5100,000 o f 5 p. o. gold bonds, dated
Jan. 1,1903; due $10,000 yearly on Jan. 1 from 1904 to 1908, both In­
clusive; $20,0C0 yearly, 1909-1913; $30,000 yearly, 1914-1918, and
$40,000 yearly, 1919-1923. The company has outstanding $300,000
capital stook In $100 (-hares, and has paid dividends at the ra teof 8 p.
o. per annum since July 1.1900. The oompany has 3.500 subscribers;
monthly rates $1 50 for residence and
50 for business. The com ­
pany has toll lines, with a gross lnoome of $25,000 per annum In
addition to the net lnoome from the subscribers.—V. 76, p. 107.

T a lle y C oun ties P o w e r Co., C a lifo r n ia .— B onds.— The
com pan y's bonds are officially described tor ns
fo llo w s:
First mortgage 5 p. o. sinking fund 28-year $1,000 gold bonds;
amount authorized, $2,500,000; present issue, $714,000; (late of
bonds, May 1, 1902; maturity, May 1, 1930. without right of earlier
redemption; rate of interest, 5 p. o., payable May 1st and Nov. 1st.
mortgage trustee, Mercantile Trust Co. of San Franclsoo. Sinking
fund, oommenolng June 1st, 1905, and on June 1st for each succeeding
four years, 1 p. o. of aggregate amount of bonds issued and outstand­
ing, payable to trustee; oommenolng June 1st, 1910, and for succeed­
ing four years, l ^ p. o ; commencing with June 1st, 1915, and for
succeeding four years, 2 p. c.; oommenolng with June 1st, 1920, and
for succeeding four years, 2>a p. c.; oommenolng with June 1st, 1925,
and for succeeding four years, 3 p. o. No prior liens. Stook author­
ized and all outstanding. $2,500,000, all common stock. Par of
shares, $100. President, R. M. Hotaling; Secretary and Treasurer,
O. A. Grow.

San F rancisco office, N o. 324 Pine Street.— V . 74, p 942.
V ir g in ia Ir o n , C oal & C oke Co.— Securities L isted .— The
§6,993,000 first m ortgage 5 per cent fifty-year coupon bonds
o f 1949 and $8,641,600 capital stock o f this com pan y w ere
listed this w eek on the N ew Y ork Stock E xchange. The
official statement regarding this recently reorganized p ro p ­
erty ju st m ade to the E xchange by President H. K . M cH arg
is published at length on page 272; also the statem ent relat­
ing to the V irg in ia & Southwestern R y ., whose 5 per cent
bonds, guaranteed by the V irgin ia Iron , Coal & Coke C o.,
w ere also listed.— V . 75, p. 1209.
W estern U n ion T e le g ra p h Co.— L isted .— The N ew Y ork
Stock E xchan ge has listed §1,000,000 additional 434 Per cen t
fu n din g and real estate m ortgage bonds o f 1950, m aking the
total am ount listed to date $14,000,000, and has au th orized
the listing fre m tim e to tim e, but prior to A p ril 1, 1903, o f
an additional $2,000,000 o f said bonds, on official notification
that they have been issued. The proceeds o f these bonds are
to be used fo r im provem ents, betterm ents and exten sion s.—
V . 76. p 216, 162________________________________________ _

for shipments on i utstanding con tracts. The congested con ­
dition o f railroad freigh t traffic due to the enorm ous
am ount o f tonnage to be handled gives strik in g evidence^of
the prosperous cou dition o f business. W ith the near ap­
proach o f the spring m onths increased a c tiv ity has been
noted in m any lines o f spring goods, m anufacturers being
reported well engaged in b ook in g orders fo r goods for deliv­
ery during the next few m onths. The fu el situation is re­
ported to be gradu ally im proving, prices fo r co a l having
been low ered con siderably doriD g the past w eek. In the
speculative markets a sharp break in prices for w heat, the
result o f the unloading o f an unusually large speculative
lon g interest, has received considerable attention.
Lard on the spot has been m ore freely offered, and w ith
only a lim ited dem and from exporters and refiners, w h o as a
rule have their wants well supplied by old con tracts, prices
have show n a w eaker tendency.
The close was easy at
10’25c. for prim e W estern and 9 50@ 9‘75c. tor prim e City.
R e6ned lard has been offered at low er prices, but it has failed
to stim ulate the dem and to any extent. The close was quiet
at 10‘35e. fo r refined fo r the Continent. Speculation in lard
for future delivery has been m oderately active. The selling
t as been m ore general, and has been prom pted by an in ­
crease in the receipts o f hogs. The close was easy.
O A ILT CLOSING PBIOE8 O f LABI) FUTURES IN CHICAGO.

Hal.
January del’y...... 10 25
May del’y ............. 9-65
Jolydel’y . .......... 9-45

Mon
10-40
9 62««
9-40

Tuts.
10-22>a
9 50
9-32ia

Wed.
THurt.
10-15 10-20
9 47i«
9*55
9 30
9 35

t r i.
9-90
9-42>*
9-27^

The df m nd fo r pork in the local m arket has been dull,
but prices have not changed from $18 25@18 75 for m ess; I
$18 75@19 00 fo r fa m ily and $19 50@22 00 for short clear, i
Cut meats have been quiet and easy at unchanged prices,
closing at
lo r pickled shoulders, l l @ l l ) 4 c . fo r
pickled nams and 9@ 9)4c. fo r pickled bellies, 14@10 lbs.
average. B eef has bad a fair jo b b in g sale at steady prices,
closing at $9 50@10 5u fo r m tss; $14(3)15 fo r p a ck et; $16 50@
17 for fa m ily, and $24@24 50 fo r extra India mess in tcs.
Tallow has been firm but quiet, closin g at 0)£c. Stearines
bad a better sale early in the week, but the close was flat at
11c. fo r lard stearine and 10)4(3. for oleo stearine. C otton ­
seed oil has had a m odera e sale at steady prices. The d o s e
was easy at 40)4c. for prim e yellow . Bu ter has been in fair
demarid and firm fo r ch oice grades, closin g 19@20o. for
cr.'a m -ry . Cheese has had a fair sale, and prices have been
firm at 1 %@14J4e. fo r State factory, fu ll cream
Fresh
eggs have bef-n in fu ll >upply, and the tone o f the m arket has
been easy, d o tin g at 23c. fo r best Western.
Brazil grades ot coffee have been quiet, the increased de­
mand from the consum ing trade noted since the turn o f the
year apparently being fa irly w ell supplied. O fferings c o n ­
tinued fairly free, due to the heavy stocks and large crop
m ovem ent, and the tone o f the market has been easy. The
d o s e was qniet at 5 }jc . fo r R io No. 7 and 634@6)4C- fo r San­
tos N o. 4. Business in the m arket fo r W est In oia grow th s
has been quiet. Increased supplies o f M aracaibo are e x ­
pected in the near future, the coffee trade anticipating an
early lem ov a l o f the blockade o f Venezuelan ports. Specu­
lation in the m arket fo r con tracts has been quiet, and the
slight ch a n g e! that have occu rred in prices have been to ­
wards a low er basis. The close was quiet. C losing asked
prices w e r e :
F e b ................ 4-20o. J u n e ............... 4 -5 'o . O ct.................... 4-85o.
March.......... .
4-30o. July__________ 4 65e. N ov __________ 4*904.
May.................. 4-4 6c. S e p t . .. . .. . .. . .. 4 80o. D e c ..........
5-I5o

R a w sngars have been more freely offered. Refiners have,
been indifferent buyers, and prices have weakened to
3 11 16c. for cen trifugals, 96-deg. test, and 3}£c. fo r m u sco­
vado, 89-deg. test. Refined has been dull aad unchanged,
closing at 4'75@4 95c. fo r granulated. Pepper has been
m ore active and higher. Teas in fair dem and and firm.
Offerings o f K en tu ck y tob a cco have continued sm all, esp ec­
ially o f desirable grades, w h ich are wanted and have sold
readily at firm prices. Business in the m arket fo r seed-leaf
tob a cco has been quiet, the fe w sales made being lim ited to
small lots. P rices have been unchanged and steady. F o r­
eign grades o f tobacco have continued to m eet w ith a good
sale at firm prices.
Prices fo r Straits tin advanced sharply early in the week in
speculative buying, but during the past tw o days have re­
al tdd under profit-takiDg sales, closin g at 28 7o@29T0c. In got
— Spencer Trask & C o., the N ew Y ork C ity bankers, an' copper has been reported in m ore active trade dem and, and
n o u rce the com pletion o f their 1903 edition “ Statistical prices have advanced to 12 45® 12 70c. fo r Lake. Lead has
Tables ” (pocket s iz e ), w h ich are n ow ready fo r gratuitous been quiet but steady at 4T 2)4c. Spelter has been unchanged
distribu tion am ong institutions and investors. The present at 4'90@5o. P ig iron has been quiet but steady at $23@25
num ber is the tw entieth annual edition o f the booklet, w hich fo r No. 1 Northern.
covers the capitalization and earnings o f railroads and in ­
Refined petroleum has been unchanged, closin g at 8'20c. in
dustrial companies.
bbis., 10 50c. in cases and 5 ’65c. in bulk. N apntha has been
— A tten tion is called to the advertisem ent in another colu m n unchanged at 9 ‘05c. C redit balances have been steady at
offerin g Shreveport Gas E lectric L igh t & P ow er C o. five per §1 50. Spirits turpentine has had a fair sale at higher prices,
cent bonds by T hom pson, Tenney & C ra w ford Co. C hicago. closing firm at 64)4@65c. Rosins have been in fair dem and
E xtracts from the circu la r describing these bonds w ere p u b ­ and firmer, closing at $2 05@2 10 fo r com m on and good
strained. Hops firm b u tj quiet. W ool firm ly held.
lished in our last issue on page 162.

THE

J anuary 31, 1903.]

CHRONICLE.

C O T T O N .
F r id a y N ig h t , Jan uary 30, 1903.
T hb M o v em e n t o f t h e C r o p , as in d ic a te d b y o u r telegram*
from th e S ou th t o -n ig h t , is g iv e n b e lo w , F or the w eek ending
this even in g th e t o t a l re c e ip ts have rea ch ed 184,217 bales
against 222,281 b a les last w eek and 226,094 b a les th e previous
week, m ak in g th e to ta l re ce ip ts sin o e th e 1st o f Sept., 1902,
5,818,877 bales, a g a in st 5,784,211 bales fo r th e sam e period o 1
1901-2, sh o w in g an in crea se sin oe Sep. 1,1902, o f 34,666 bales
M ueipti at—

Bat.

Mon.

fu st.

Wed.

Galveston....... . 10 8t0 8,133 12,866
...... ...... ......
Sab. Pass, Ac
New O rleans... 4,955 11,181 11,619
496 1,244
£93
M obile_______
Pensacola, Ac. ......
...... ......
S a va n n a h ...... 5,238 4,586 8,562
...... ...... ......
Bransw’ k.Ao
Charleston___
268
205
333
...... ...... .....
Ft. Boyal.A o
504
W ilm ington....
828
738

Tkurt.

7,557

......
8,144
1,019

......
5,083

......
194

f r i.

5,566 11,760
...... 3,851
8,243 7,816
659
838
...... 5,7ee
4,848 4.462
...... 2,764
492
622

Tola,
56,742
3,851
51,958
4,849
5,766
32,779
2,764
2,114

275

In a d d itio n t o a b o v e e x p o r ts , o u r te le g ra m s to -n ig h t also
give us th e fo llo w in g a m ou n ts o f o o tto n on sh ip b oa rd , n ot
Bleared, at th e p o rts n a m ed . W e a d d sim ilar figu res fo r
New Y o r k , w h loh are p rep ared fo r o u r sp ecia l use b y M essrs,
L am bert & B a rro w s, P r o d u o e E x c h a n g e B u ild in g .
ON 8H IPBO ARD, NOT CLEARED F O B —

Jan. 30 at—

Great
Ger­ Otker OoastB ritain F r’ nee m an V For’gn voite.

New Orleans.
Galveston. .. .
Savannah....
Charleston...
Mobile............
Norfolk..........
New Y ork___
Other p o r ts .

23,755 13,000 1 8 J 6 C 13,106
21,007 26,936 15,859 14,193
9,250 9,700 21,250
6,564
8 ,1 0 0
3,800
2,000
5.000
2,000
2.000
1 ,0 0 0
2 ,0 0 0
5,000

Leaving
ttock.

Total.

68,429
86,513
40,200
” 506
7,064
4,900 16,800
4,600 11,600
5.000
7.000

257,492
152,538
107,325
4 030
17,873
18,938
155,080
75,682

Total 1903.. •66,812 49,636 66,369 40.863 19,926 242,606

818,958

Total 1902.. €4,601 43,102 41,340 31,659 22,218 202,920
Total 1901.. 33,759 13,948 35,943 20,561 22.051 126,262

735.775
835,259

408
8,518

Speculation in cotton fo r future delivery has been fa irly
active. D arin g 1he first h alf o f the week prices show ed an
advancing tendency. L iverpool cable advices cam e d ecidedly
stronger, influenced, it was stated, by reports from M anches­
2,065 2,013 2,910 1,496 1.192
N orfolk ___—
ter o f an active business in cotton goods. The firmer E u ro ­
...... ...... ....... ......
N’ p’ t News, Ao ......
pean advices stim ulated buying in the local speculative Jnar165
131
539
ICO
New Y o rk .......
Ret. M any w ere o f the opinion that the buyiDg in the N ew
682
465 1,564
B oston_______
824
765
Y ork m arket cam e largely from a prom inent operator on the
bear side, to co v e r short con tra cts; others, h ow ever, e x ­
400
50
100
20
PU ladera, Ao..
pressed themselves as believing that the buying cam e prin ­
Tot. this week 25,330 29,055 38,484 24,800 24.320 42.228 184,217 cipally from bull interests. The m ovem ent o f the crop has
continued below general expectations, and this, too, had
T he fo llo w in g shows the w eek’ s total receipts, the total since
considerable irflu en ce in creating sentim ent favorable to the
Sept. 1,1902, and the stocks to-n igh t, com pared w ith last year,
bu ll side o f the market. A d v ices from the South have re­
ported firm markets, w ith good general bu yin g by exporters,
B toek.
1901-02.
1902-03.
BeeeipU to
and at advancing prices. Thursday there was an easier turn
I k i t BinetBep. n i l
BineeBep
1903.
J an . 30.
1902
to the market. Speculative holders becam e fa irly free sell­
week.
1, 1902.
1, 1901.
y>eek.
ers to realize profits, and under the increased offerings prices
G alveston... 66.742 1,653,549 46,116 1,621,236 239,051 199,932 declined. T o day the m arket again show ed an easier tone.
L iverpool cable advices were easier, reflecting the d eclin e
Sab. P., Ao.
77,195
234
3,851
43,888
Mew Orleans 51,958 1,655,858 66,154 1,676,357 355.921 850,835 in N ew Y ork on Thursday. The estim ated receipts fo r Sat­
34,673
4,849 173,273
2,518 135,449
M ob ile........
32,855 urday were fairly heavy and had a weakening influence, and
there was fa rth e r selling by speculative holders to realize
5,766 115,120 20,093 159,166
P’sacola, Ac
Savannah.. 32,779 1,048,129 20,172 943,806 147,525
85,726 profits. The close was quiet at a net loss in prices fo r the
2,764 102,717
13,988
Br’wlok.Ao.
1.042 112,340
1,796 day o f 2@9 points. C otton on the spot has been firm er, c lo s ­
11,094
2,114 188,710
5,240 227,491
Charleston.
10,565 in g at 9 ,05c. fo r m iddlin g uplands.
I’be rates on and ofl m id d lin g , as establish ed N o v . 20,1902,
221
P.R oyal.A c
1,379
12,669
4,100 294,913
4,164 239,645
Wilmington
25,979 by th e R evision C o m m ittee, at w h ic h g r a d e s o th e r than
m iddlin g m ay be d e liv e r e d on c o n t r a c t , a re as fo llo w s .
8
375
370
Waah’n, Ao.

......

......

677

638

.......

.......

715
4,100
8
8
1,701 11,377
422
422
170
1,105
860
5,160
692
592
630
60

30,538
276
160,080
42,000
7,271
6,478

43,804
1,434
119,944
51,000
11,688
3,137

Pair.........................o . 1-30 on
Middling F air....... ..............0-96 on
fttrlot Good Middling.........0-62 on
Good Middling....................0 44 on
Strict Low Middling.......... 0-14 off
Low Middling......................0 38 off
Strict Good O rdinary....... 0 72 off
Good O r d in a ry ..................1-00 off

Totals....... 184,217 5,818,877 192,638 5,784,211 1,061,564

938,695

O n th ls b a sis the o fficia l p rices fo r a fe w o f th e g ra d e s for
the past w e e k —Jan. 24 to Jan. 80—w o u ld be as fo llo w s .

M orfolk....... 11,377
422
N’port N.,Ac
1,105
New Y ork..
5,160
Boston.......
592
B altim ore. .
630
Phlladel. Ac

389,452
17,355
22,295
43,701
19,501
16,713

356,515
14,728
86.131
79,811
61,857
21,542

11,421
586
3,937
5,132
5,287
542

In o r d e r t h a t c o m p a r is o n m a y be m a d e w it h o t h e r yearp,
w e g iv e b e lo w t h e t o t a ls a t le a d in g p o r t s f o r s i x s e a s o n s ,
Beceipte at—

1903.

1902.

1901.

1900.

1899.

1898.

Galves’n.Ao.
New Orleans
M obile.........
Savannah...
Obas’ ton, Ao.
Wllm'ton, Ac
N orfolk........
N. News, Ao.
All oth ers...

60,593
51,958
4,849
32,779
2,114
4,108
11,377
422
16,017

46,350
66,151
2,519
20,172
5,240
4,164
11,42)
586
36.033

62,262
54,833
2,503
25,343
2,880
3,938
13,654
405
26,063

50,350
72,570
7,507
35,920
9,434
9,117
14,587
3,306
14,610

37,630
51,191
4,859
27,653
5,109
3,276
12,132
1,170
33,393

54,433
87,831
10,274
23,838
14,075
3,961
7,737
184
20,795

t o t . this wk.

184,217

192,638 191,881

217,451

176,413

223,128

Sinoe Sept. 1 6818,877 5784,211 5370,665 4761,639 6854,135 6810.987

The exports for the w eek ending this evening reach a total
o f 226,349 bales, o f w hich 67,838 were to G reat B ritain, 36,527
to France and 121,994 to the rest o f the C ontinent. B elow
are the exports fo r the w eek and since Sept. 1, 1902.

tram—

Week Bndino Jan. 30,1803.
Exported to—
great

B rlt’n.

Frante

2 °
a |

Mmvortt

fro m Sept. 1,1808, to Jan. 30,1803.
______
Exported to—__________

Total
great
Wrar.ee
Weak Britain.

a s lv s it o n .... 25,011 19,718 10.059 01,958
........
........
Sab. Pass, A e.
New Orleans. 24,100 8,214 34,872 07,252
M obil*...........
........
P sn ia oola ....
8,676
1,951 5,020
........
........ 51,6t 0 61,080
Savannah......
........
B rnniw iok...
••• •
• • ........
......
C harleston...
0.099 0,029
........
........
........
........
Port R oy a l....
.......
......
Wilmington..
'475 8,250
Norfolk...........
400 9,126
N’port N „ Ao.
754
754
Nsw Y ork___
5,282
845 4,410 10.023
........
B oston ...........
5,769
5,709 ........
......
1,057
Sal tl m ors......
1,067
893
£93
Philadelphia.
San Fran., Ao.
700 ..........
5,277 5,938

635,431 217,625
15.630
576.100 238.482
84,813
60,933 0,947
140,(28 38,050
08,300
15,500
104 855 3.242
11 928 12,350
6,803
906
128.884 11,374
08.985
64,829 1.900
23,230
17,044

Oentlnent.

TSUI

899,825 1,162,791
39,902
55,492
438,275 1,251,805
31.440
00 202
45,742 100,022
530,472 715.149
0,800
76.100
72,237
87,797
.......
170.332 284.429
11,981
30,269
850
7,", is
1C0.781 246,489
70,401
1,470
76,356
18,020
1,800
24,530
104.287 121,331

UPLANDS.

S a t.

dood Ordinary__ —__________
Low Middling__________ _____
fliddllng.................. ...................
dood M iddling... . . ..................
'g'drtllrur V»1r.............................
GULF.

M on T t t i W ed

795
8-57
8 95
9-39
9 91

7 95
8-57
8 95
9-39
9-91

S a t.

T k . 1F r l .

8 00 8 0 5 8-05 8-05
8-62 8 67 8 6 7 8 67
9 ‘CO 9 05 9 05 9 05
9 4 4 »-49 t) 49 9 49
9 96 1001 10 01 I10 01

S io n T n e s W e d

Tk.

F r l.

io o d O rdinary......... ............. . 8-20 8-20 8'25 8 30 8 3 0 8 30
Low Middling..... ......... ............
8-82 8-82 8 87 8-92 8-92 8 92
fliddllng........ ...................... .
9 '2 ? 9-20 9 25 9-30 9 30 9 30
dood Middling........................... 9 6 4 9'64 9-69 9 74 9 74 9 74
fliddllng F a i r . . . . . . . . . . . . . . . . . . 10 16 10 16 10 21 10 26 10-26 1 0 2 6
STAINED.

S a t.

Low Middling______________
Middling.................................. .
Itrlot Low Middling Tinged...
Good Middling Tinged.............

7-45
8'45
861
8 95

n o n T n e s Wed| T k .
7-45
8 45
861
8 95

750
8 50
866
9-0u

7-55 ! 7 55
3 55 8 55
8-71 1 8-71
9 05 | 9 0 5

F r l.
7 55
8 55
8 71
9-05

The q u ota tion s fo r m id d lin g upland at N ew Y o r k o d
Jan. 30 fo r eaoh o f th e past 32 years h ave been as fo llo w s .
1887.. . . 0 . 6718 1879.
1903.. ..C. 9 05 1895. ...0 . 5%
i. 9%
1902.. . . . . 8H
1886..
1894. ....... 81,a
1878.
• is
ID
1901..
1900.. . . . .
1899..
1898.. . . . .
1897.. . . . .
1896.. . . . .

1893. ....... 97 , ,
1892.
1891. ------85,s
51*16 1890. ....... 1015,8
75,8 1889. ....... 9%
1888. ____1011,6
8H
8

1885.. -----115,6
1884..
1883.. ....1 0 3 18
1882..
1881.. ....1 1 %
1880.. ....1213,6

1877.
1876.
1875.
1874.
1873.
1872.

.22%

M A R K E T AND SALES.

T h e t o t a ls a le s o f o o t t o n on th e s p o t e a o h d a y d u r in g th e
week are in d io a te d In th e fo llo w in g s ta te m e n t.
F o r th e
con venien ce o f th e re a d e r w e a lso a d d o o lu m n s w h lo h s h o w
at a glan oe h ow th e m a r k e t fo r sp o ts a n d fu tu r e s o lo s e d on
«ame days.
S p o t Ma r k e t
Clo sed .

07,883 80,527 121.984 220,349 1,85 0,705 534,436 1,935.905 4,877,105

S a tu rd a y ..
M on d a y ___
T u e s d a y ...
W ed n esd a y
T h u rsd a y ..
“T l d a y ........

Total 1801-02.. 100,020 14,703 118.191 287,043 2,230.900 541.100 1.750,020 4.534,020

T o t a l........

T o ta l...........

Good Middling Tinged ..o.
Eve*
Btrlot Good Mid. Tinged.. 0 30 on
8trlct Middling Tinged___ 0 06 ok
Middling Tinged................ O -ll ofl
Strict Low Mid. T in ged ... 0 84 ofl
Middling Stained............... 0 50 ofl
8triot Low Mid. Stained... 1-06 ofl
Low Middling S tain ed..... 1-50 ofl

F utures
Market
Clo se d .

Q u ie t.....................
( jn le t ___________
S te a d y , 5 p ts.a d .
S tea d y , 5 p ts.a d .
Q u ie t.......... ..........
Q u i e t ....................

Q u ie t.............
B ’r ly s te a d y .
s t e a d y .........
F i r m .............
S t e a d y .........
Q u ie t.............

mmm

rnn m
r m ................. -----------------------

S a l e s o r Sp o t
E x­
p o r t.

a

Co n tract

C onC on
s u m p . tract.

T o ta l.

....

••••
....
....
••••
••••

••••
....
_
_

....

816 1 3 ,0 0 0 1 3 ,8 1 6

2 ,1 0 0

2 ,ic o

....
....

....

soo
9 00 1 ,7 0 0
16 1 0 ,00 0 1 0 ,0 1 6

276

THE CHRONICLE

FUTURES.— H igh est, lo w e st and o lo s ln s p rices at New Yorfc.
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A t the I nterior T ow ns the m ovem en t—th at is the receipts
for the week and since Septem ber 1, the shipm ents for the
w eek and the stocks to-n igh t, and the same item s fo r th e
corresponding period of 1901-02— is set ou t in detail below .

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cable and telegraph, is as follows, Foreign stocks, as wel)
as the afloat, are this week’s returns, and consequently all
foreign figures are brought down to Thursday evening
But to make the total the complete figures for to-night
(Jan, 30), we add the item of exports from the United States
including in it the exports of Friday only,

5s
8?
»8
5?

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to

T h e V i s i b l e s u p p l y o p (J o t t o n to-night, a s made up b j

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wq*cp —b O © © © x© x:P M M © © t3© **M -j<JC P w © xxo<-3© <-<»
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The above totals show that the interior stocks have d e­
creased during the week 18,599 bales, and are to-night 193,028
bales less than same period last year. The receipts at all the
towns have been 10,016 bales m ore than same week last year.
O v e r l a n d M o v e m e n t f o b t h e W e e k a n d S i n c e S e p t , 1 .—

9?e give below a statement showing the overland movement
Its 0 0 .
for the week and since Sept. 1, as made up from telegraphic
669 000 reports Friday night.
The results for the week ending
2 OOO
Jan. 30 and since Sept. 1 in the last two years are as follows.
671,000

1901.
1908.
1902.
■look at L iv e rp o o l.
.b a le s . 665.000 991.000 747,000
12,000
■took at L o n d o n ....
5 000
8.000
X otal G reat B ritain stook .. 673 000 996,000 759.0U0
18.000
■took at H am burg.
13.000
8.000
11.000
■took a t B rem en ......... .............. 240,000 236,000 267,000 252,000
1,000
■took at A m sterdam .
200
300
■took at R o tte rd a m .,
3,000
4,000
4.U0C
Stook at A n tw e r p ............... .
3,000
193,000
265,000
136,000
Stook at H a v r e . .. .___ _______ 152,000
2,000
2,000
4,000
Stook at M arseilles......... .........
3.000
82,000
47 000
58,000
88 000
3 took at B a r c e lo n a ............. ..
45,000
45,000
Stook at G en oa....................... ..
35,000
49 000
6,000
3.000
1,000
2 OOO
■took at T rie ste ............... .
489 OOO 587,000 523 200 677,3 <
C
T ota l C ontinental stook s.
T etal E uropean stock s___1,162 OuO 1,583.000 1,287,200 1.348,30C
26.000
In d ia ootton afloat fo r E urope 130.000
6Z.00C 108.000
A m er. ootton afloat fo r E ’r o p e . 608.000 6 - 8,000 498.000 440 000
63 O O
O
E gypt. Brazil, & o.,aat.for E 'p e
32,000
57.000
47,000
Stook in A lexandria, E g y p t ... 194.000 243.000 176.000 203 000
o w o a l in o oom bay, i u u i a ....... a «
Stook u B u i o n ; . In d ia . . a a a
400.000 381.000 833.000 330,000
Stook in United States p o r ts . 1,061,564 938 695 961.251 1,037.981
■took In U. B. Interior to w n s .. 466 041 659,069 752 962 693 030
13,051
5 0 ,i8 7
25.741
United States e x p o rts to-da y.
38 325
T otal visible s u p p ly ..........4,116,930 4,554,815 4,248,900 4,167.052
O f tk s above, totals o f Am erican and otner descriptions are as fo llo w s :
A m erica n —
L iv erp ool s t o o k . —bal es. 587.000 904.000 666 000 546 OOO
552.000 491,000 6*4,000
Continental s to c k s ...........472.000
A m erican afloat fo r E n ro p e ..
608.000 628.000 49 3, <00 440 000
938 695 961,251 1,037 981
United 8tates s t o o k .............. 1 ,0 6 1 /6 4
United States Interior s to ck s 466,041 659,069 752.962 693.030
13 051
50,487
25,741
United S tates ex p orts to-day.
38 325
T otal A m erloan .................. 3 ,232,9393,691,815 3,422,700 3,386,752
Mast inuH in, B
a m i In d ia n , b rasil, Ac.—
123.000
81.000
87.000
78.000
L iv erp ool s to ck ..
8 000
2 .0 0 0
5,000
12.000
London s t o o k .................. ..........
33,300
17.000
34.200
35.000
C ontinental s t o o k s . .. ._______
26 JOC
108 000
62.000
130 000
India afloat for E n ro p e .
63,000
32.000
47,000
57.000
E gypt. B rasil, A c., a flo a t ....„
Stook (n A lexandria, E g y p t ... 194 000 243.000 176.000 2C3 000
Stoek In B om bay, I n d ia ... . . . . 400 000 381.000 383.000 330.000
_ _ M East India, A _ ... .. .. 884 0O0 8 60.0'*0 826.200 780 300
T otal L _ _
c ___
T otal A m erloan. 1.............. . 8,232,930 3,694 815 3,422,700 3 886 752
T otal vlBible su p p ly ___...4 ,1 1 6 .9 3 0 4,554,815 4 ,2 1*.9 up 4,167,052
4 -» 6 d .
H ad.
5 i3 3. d.
2
4% d.
■fiddling Upland, L iv e rp o o l..
9 050.
8i*0.
10c.
81*e.
M iddling Upland. New Y o rk ..
8 8ie d .
5 15i « d .
8 5 i# d.
8 *ja d .
E gypt G ood B row n , L iv erp ool
7 -3 0 d .
7d.
7 7 ,« d .
7<«d.
F eru v . Rough G ood, L iverp ool
4«kd.
4»i8d.
SSsd.
49 i 64
B roach Fine, L iv erp ool___ _
4 Bed.
4 Bed.
Sijad.
46i8 l.
Iln n ev elly Good, L iv e rp o o l...

Continental Imports past week have been 148,000 bales.
The above figares Indicate a loss in 1903 of 437,885 bales
as compared with same date of 1902, a decrease 01 131,970
bales from 1901 and a decline of 00,132 bales from 1900.

1902-03.
J anu a ry 30.
Week.
Shipped—
Via St. Louis....................................
Via C airo.........................................
Via Paducah.................................
Via Rook Isla n d ...........................
Via L ouisville.................................
V ia C incinnati................................
Via other routes, A c ....................

22,936
11.228
627
3,692
620
9.780

Fines
*«*>< 1

1901-02
Week.

495,175 26.125
3,374
150,052
1,394
1,461
21,633
82,427
5,267
4,916
23,438
197.055 17,907

Fines
kept 1 .
556,238
82,744
24
27,623
124,144
71,585
255.813

T otal gross o v e r la n d ..............
Deduct shipm ents—
Overland to N. Y ., B oston, * 0..
B etw een Interior tow n s.......... .
Inland, <fco., from South..............

48,788
7,487
487
679

102,210 14,898
30 123
6,687
2,331
28 458

T otal to be d ed u cted .................

8 653

160, 9l| 23 »16| 324 583

Leaving total net ov erla n d ___

40,130

810.383' 3^,1541 793,588

971,174

59,07o 1,118,171
249,341
46,095
29,147

Tne foregoing snows that one week's uei uvcnauu movement
this year has been 40,130 bales, against 35,151 bales for the
week in 1902, and that for the season to date the aggregate net
jverland exhibits an excess over a year ago of 16,795 bales.
In Sight and Spinners
Takings.

1902-03
Week.

Fines
kept 1

1901-02.
Week.

Fines
kepi 1

Receipts at ports to Jan. 3 0 ........... 184.2176,818.877 192,638 5,781.211
Net overland to Jan. 30.................
40,130 810,383 35,154 793.588
768.000
Southern consum ption to Jan. 30. 4 l 000[ 877 <*00 37,
Total m arketed........................... 265,347 7 *0« 260 264 792 7,845.799
Interior stooks in e x cess................. *18,599 402.963 *1,938 529,764
Came Into sight during w e e k .. 246.748
(262.794
Total In sight Jan. 30................
7 909 223
7.875,563
North’n spinners’ tak’ gs to Jan. 03
* D ecrease during week.

57,6901,346.443

77,492|l,317,841

Movement into sight in previous years.
W eek 1901 Feb. 1 ......................
1900 Feb. 2 ......................
1899 Feb. 3 ......................
1898—Feb. 4 ...............

Bales.
222,687
241.311
208,385
257,778

Since Sent 1—
1900-01- Feb. 1 ............
1899-00 Feb. 2 ............
1 8 9 8 -9 9 -Feb. 3 ............
1897-98—Feb. 4 . . . . . . . .

Bales.
7,583,119
6,823,130
8,904,370
8,710,681

January 31, 1903.]

THE

CHRONICLE.

277

Memphis, Term.—The weather has been unseasonably warm
Q u otation s f o b M id d lin g C otton a t O t h e b M a r k e t s ,Below are closing quotations of middling cotton at Southern the past week. Some progress has been made with picking
and other principal cotton markets for each day of the week, and there is considerable cotton still to gather. There has
been rain on four days the past week, the rainfall being one
CLOSING QUOTATIONS FOB MIDDLING COTTON ON—
inch and forty-three hundredths. Average thermometer
Week endinu
53-8, highest 73’4, lowest 34/8.
Jan. 30.
Wednes. Thun.
Fri.
Tuet.
Satur.
i f on.
Mobile, Alabama.—Liberal rains in the interior daring
813ie
81316
Galveston...
815,6
87
8
8I5l«
ei3ie
mid week. Planting preparations have thus far made little
8%
8%
8*
New Orleans
87s
87s
87s
progress. There has been rain on two days during the
850
86s
8 j4
8916
M obile........
89is
8»16
week, the precipitation being one inch and forty-five hun­
860
89,0
Savannah..
8yie
§ "l«
t»18
8»10
8 **
Charleston..
8 *s
S'*
8°10
dredths. The thermometer has averaged 55, ranging from
891 S
8 i*
8 *s
8 **
8 **
8
Wilmington.
8 »*
35 to 74.
9
813le
9
813,6
Norfolk......
87s
813,6
Montgomery, Alabama.—Farm work is being pushed.
905
900
8-95
895
905
Boston........
8-95
9
9
9
Labor is plentiful. There has been rain on two days of the
Baltimore..
87s
87s
8 7s
9 30
9-25
9-30
9’ 20
9-30
Philadelphia
920
week, the rainfall reaching fifty-seven hundredths of an
9
9l,a
Augusta_
_
816,0
8i5ie
91,8
81Bi6
inch. The thermometer has ranged from 34 to 76, aver­
8^
8%
811,6
8\
_
8Hi0
Memphis_
81J16
aging 50.
8%
8i'ia
8%
8t. Louis_
_
8n ie
1116
*n 10
813,6
Houston_
_
8%
81316
87s
81B
ie
Selma, Alabama.—Rain has fallen on one day of the week,
8 iaie
83»
8\
8%
8%
Cincinnati.
8%
S\
to the extent of sixty hundredths of an inch. Average ther­
83s
Little Rook
87i«
SB
is
8716
b°l«
8B
is
mometer 54, highest 70, lowest 84.
The closing quotations to-day (Friday) at other important
Madison, Florida.—There has been rain on one day during
Southern markets were as follows.
the week, the precipitation reaching eighteen hundredths of
Columbus, Mias 8^8
Nashville........ 8*8
an inch. The thermometer has averaged 61, the highest
A th e n a ......... 9
Natohez.......... 8Hi« being 78 and the lowest 44
8%
A tla n ta ........ 8 ltle E u f a u l a .............
Raleigh........... 9
Louisville__ _
Charlotte........ 9
Savannah, Georgia.—There has been rain on two days
Shreveport___ 81
*
Montgomery... 888
Col ambus, Qa. 83j
during the week, the precipitation being thirty hundredths
N e w O r l e a n s O ption M a r k e t . —The highest, lowest and of an inch.
The thermometer has averaged £6, ranging
closing quotations for leading options in the New Orleans from 39 to 78.
cotton market the past week have been as follows.
Augusta, Georgia.—The weather has been unfavorable for
Sat’day. Monday, Tuesday, Wed’day, Thursd'y Friday. plantation work. We have had rain on four days during the
Jan. 21. Jan. 20. Jan. 27. Jan. 28 Jan. 29. Jan. SO week, the rainfall being one inch and seventy-four hun­
dredths. The thermometer has ranged from 30 to 71, aver­
January—
Range. .. . 8 - 6 1 V 6 ' 8-609-65 8-689-73 8-759-83 8-809-85 — 9 — aging 50.
Charleston, South Carolina.—Rain has fallen on five days cf
Closing... 8-61®‘63 8-609-61 8-739-74 8*829-84 8-809-82 8-679 —
March—
the week, the rainfall reaching sixty seven hundredths of an
Range___ 8-669 72 8-669-72 8 719-80 8819-90 8 849-90 8-759-84 inch. Average thermometer 53, highest 74, lowest 39.
Closing.. 8,719'72 8-66967 8-799-80 8-889-89 8-849-85 8-769 77
Stateburg, South Carolina.—Lt has rained on three days
MayRange — S-789-8-* 3‘79'9'85 8-849-94 3 949 01 3-97903 8-899 98 during the week, the rainfall being seventy six hundredths
Closing... 8-819-85 8-799-80 8-929 93 9 029 03 8-979-98 8-899-90 of an inch. Warm and spring-like now. The thermometer
July—
Range.... 8-919-97 8-909 96 8 949-04 9 069-15 9 079-13 9-00909 has averaged 49, the highest being 69 and the lowest 30.
Greenwood, South Carolina.—There has been rain during
Closing... S 959-96 8 909 91 9 0 3 9 04 9 189-14 9 039-09 9-009-01
A ugustthe week, to the extent of one inch and forty-two hundredths.
Range___ — n> - 8-609-84 — 9-71 8-729-75 3-759-PO 8-689-75
Closing... 8-619-65 8-589-60 8699-7J 8-759-76 8-739 76 8-659-68 The thermometer has averaged 43.
The following statement we have also received by telegraph,
Tone—
Firm.
Firm.
Spots...... Steady. Easier. Strong.
showing the height of the rivers at the points named, at
Quiet.
Firm.
Steady. Steady.
Options... Steady. Steady. Steadier
3 o’clock Jan. 29, 1903, and Jan. 30, 1902.
W eather R eports b y T e l e g r a ph .— Telegraphic advices
Jan. 29, ’03. Jan. 30, '02.
to us this evening from the South indicate that rain has
Feet.
Feel.
fallen in most districts during the week, and that at some flew Orleans..^, .......A b o v e zero of gauge.
42
11-5
points the precipitation has been rather excessive. The tem­ M e m p h is.................Above zero of gauge
10-4
7-6
perature has ranged higher as a rule. In some sections our Kaahvlile______ _____ Above zero of gauge
10 4
Si-2
0-1
8-4
correspondents report that farm work is now in progress. Ihreveport..— ............Above zero of gauge.
Vicksburg.................... Above zero of gauge
24 9
6-7
From Arkansas we are advised that picking is again under
way and progressing w-11.
Cotton S u p ply and C onsumption in E u rope . —By cable
Galveston, Texas.—W e have had rain on two days during
the week, the rainfall being three hundredths of an inch. we have received the substance of Mr. Ellison’s first of
The thermometer has ranged from 46 to 70, averaging 58.
January cotton review, and in our editorial columns give
Corpus Christi, Texas.—The week’s rainfall has been one the results and some suggestions respecting them.
hundredth of an inch on one day. Average thermometer
66, highest 82 and lowest 50.
I n d ia C otto n M o v e m e n t p r o m a l l F o r t s .— The receipts
Fort Worth, Texas.—There has been no rain during the if ootton at Bombay and the shipments from all India ports
past week. The thermometer has averaged 59, the highest for the woeh ending Jan. 29, and for the season from Sept, 1
being 84 and the lowest 34.
to Jan. 29 for three years have been as follows:
San Antonio, Texas.—There has been rain on four days the
past week, the precipitation reaching: seven hundredths of an
1903-03.
1901-02
1900-01.
inch. Thermometer has averaged 61, ranging from 40 to 82. Receipts at—
Since
Since
Since
Palestine, Texas.—There has been rain on one day of the
Week.
Week.
Week.
Sept. 1.
Sept. 1.
Sept. 1.
week, the rainfall reaching fifty-two hundredths of an inch.
Bombay........ 101,000 747,000 113,000 886,000 91,000 650,000
The thermometer has ranged from 34 to 80, averaging 57.
New Orleans, Louisiana.—There has been rain on four days
f o r the W e e k .
lin es S e p te m b e r l.
the past week, the rainfall being forty-eight hundredths of
Mnports
an inch. Average thermometer 68.
Great
C on ti­
from —
Qreat
Conti­
Total. B ritain .
to ta l.
B ritain. nent.
Shreveport, Louisiana.—W e have had rain on two days the
nent.
past week, the rainfall reaching one inch and thirty-five Bombav—
hundredths. The thermometer has averaged 58, the highest
1902-03..
3,000 39,000 42,000
10,000 197,000 207,000
being 80 and the lowest 86.
1901-02..
. . . . . . 13.000 13,000
1,000 105,000 106,000
1900-01..
3,000
3,000
26,000 193,000 219,000
Columbus, Mississippi.—There has been rain on three days
Calcutta—
the past week, the rainfall being two inches and thirty-five
1902-03..
2,000
13,000
15,000
hundredths. The thermometer has averaged 49, ranging
1901 02..
1,000
5,000
6,000
1900-01..
1,000
1,000
from 28 to 70.
2,000
8,000
io;ooo
Leland, Mississippi.—There has been rain during the week, Madras—
1902-03..
3,000
7,000
9,000
the rainfall reaching ninety-one hundredths of an inch. The
1901-02..
......
3,000
3,000
thermometer has ranged from 27 to 72, averaging 50-9.
1900-01..
7,000
9,000
16,000
m oth ers—
Vicksburg, Mississippi.—Rain has fallen on one day of the
1902-03..
13,000
29.000
42,000
week, to the extent of thirty-eight hundredths of an inch.
1901-02..
3.000
3,000
38.000
36.000
Average thermometer 50, highest 76, lowest 36.
1900-01..
1.000
1,000
8,000
26.000
34.000
Helena, Arkansas.—The weather has been rather warm
lland farming has commenced. Much cotton is yet in the total a 03.. 3,000 39,000
1902
42,000
27,000 246.000 273,000
fields and good progress has been made this week in gather­
...... 16.000 16,000
1901-02..
2,000 149,000 151,000
ing it. There has been rain on two days of the week, the
1900-01..
1,000
4,000
43,000 236,000 279,000
5.000
rainfall reaching one inch and forty-three hundredths. The
thermometer has ranged from 32 to 76, averaging 53'3.
M emphis Cotton E x ch an g e .—At the annual election for
Little Rock, Arkansas.—Picking is under full headway officers of the Memphis Cotton Exchange on Jan. 14 the fol­
again and much cotton has been picked this week. There lowing were elected to serve during the ensuing year: Presi­
has been rain on three days the past week, the rainfall dent, E W, Porter; Vice-Presidents, E. Ramsey Moodie, B.
reaching eighty-nine hundredths of an inch. The thermom­ B. Beecher, W. J. Crawford; beard of directors, John
eter has averaged 52, ranging from 84 to 75.
McGrath, Godfrey Frank, H. H. Reese, Win. Bjwles Jr,, I.
Nashville, Tenn.—We have had rain the past week, the McD. Massey, Jcs. H. Turner. Irby Bojd; Treasurer, M. S.
rainfall reaching forty-two hundredths of an inch. The Buckingham. Mr.- Henry Hotter was unanimously re­
thermometer has averaged 53, the highest being 74 and the elected Secretary on the following day, which position he
lowest 31.
has held continuously since March 15, 1881.

278

THE CHRONICLE

A l e x a n d r ia R e c e ip t s
Aleeandria, Koypt,
January 28.
Receipts (oantnrs*) —
This week___ . . . . . . .
Since Sept. 1 ............

an d

s h ip m e n t s

of

C otton . —

1902-03.

1901-02.

1900-01.

170,000
4,918,000

225.000
5,005,000

60,000
3.667,000

Tkis
week.

Since
Sept. 1.

Tkit
week.

Since
Sept. 1.

Exports (bales)—
To Liverpool.... . . . . 12,000 238.000 9,000 202.000
To Continent t ......... 5,000 222.000 1 1 ,0 0 0 262,000

TMt
week.

Since
Sept. 1.

8,000 197.000
3,000 142.000

Total Europe____ 18.000 460.000 20.000 464.000 11,000 339.000

* A oantar Is 98 pounds.
1 Of which to Amerloa In 1902-08, 50,898 bales; In 1901-02, 56,274
bales; In 1900-01, 27,867 bales.
This sta te m e n t show s th a t the receipts for the week
ending Jan. 28 were 170,000 cantars and the shipm ents to
a ll Europe 18,000 b a les.

M anchester Ma r k e t .— Onr report received by cab e
to-night from Manchester states th a t the m arket is firm
for both yarns a id shirtings. The demand for both home
trade and foreign markets is good. We give the prices for
to-day below and leave chose for previous weeks of this and
last year for comparison.
1902-03.

1901-02.

Sl« lbs. Skirt­ Oott’n
8 H lbs. Skirt­ Oott’n
32f Oop. ings, common Mid. 32* Cop. ings, common Mid.
Twist.

d.

d.

Do. 26 7% 0 8 1 1 a
Jan. 2 73i««8ie
“ 9 714 08*0
s
“ 16 75i0 »8 1
« 23 7*8 » 8 » 18
“ 30 77,0*»84»

to finest.

s.
5
5
5
5
5
5

Uplds

d. s.
1^07
2 07
2 07

d.
4-52
4-72
4-72
4-80
4-84
4-86

Twist.

d.
7>*
9
9
2i*9 7 9
3 07 Id a
4 08 0

d.
d. e.
7ii0O7i3ie 5
7
073t 5
61518 711,0 5
7
0734 6
678 07Sg 5
6i5,g'*7% 5

to finest.

Uplds

d. ». d.
d.
4 2 isa
2 07 11
H* 97 101 4 !7 aa
*
1 07 9
4 1 7 ,s
11*07 10
4® 1
6
1 07 10
41
*
11*07 101* 4 i «

D om estic E x p o r t s o f C otton M a n u f a c t u r e s .— W e give
below a statement showing the exports of domestic cotton
manufactures for December and for the twelve months ended
Dec. 81, 1902, and for purposes of comparison like figures
for the corresponding periods of the previous year are also
presented.
Quantities of M anufactures of Month ending Dec. 81. 12 mos. ending Dec. 31.
Colton (.colored and uncolored)
1901.
1902.
1902.
1901.
Exported to—
434,802 6,536,707 9,649,1*7
440.000
United K in gdom ................... yards.
11,708
76,712
22.268
24,007
53,903
188,771
G erm any..............................................
08O.0S9
145,71i
204,959 2,690,040 2.3S0.741
Other E urope.....................................
1,821,906
036,090 11,950,426 8,328,218
British North A m erica....................
1,600,686
1,309,046 19,012.968 18.3-8,245
Cent’l Am erioa & Brit. H onduras.
2' *8,972
887,f9 i
8,129,464 8,807,422
M ex ico ........................................... .
233,449
8,6.10,775 4.470,642
151,093
...............................................
Cuba
8,678.419 2,842,828 27,553 291 23,703.301
Other W est Indies and Bermuda..
800,656
200,218
1,234,674
A rgen tina................................ .........
1,797,713
660.948
040.126 0.017,024 6,445,878
Brazil....................................................
1,784,844 10,858,284 10,400.114
902.017
C hili......................................................
1,440.481 28,810,708 *1,506.308
2,8*0.902
Colom bia............. ..............................
940.337
010.598 9.311,218 10,204,687
V enezuela........................... .............
728.436
6 ;0,868 0,040,303 5,403,578
Other South A m erica.......................
Chinese Empire ............................... 20,532,514 20.010,048 320.419.4S0 201,308,071
1,150,911
l,138,8o8 13,202,005 7,008,933
British East In dies...........................
09.10
200,830
10,737
H ong Kong .......................................
528.833
2i,02C
18,79s
351,93
Japan ...................................................
b08,822
393.40*'
601.840 0,010,012 4.097,829
British Australasia...........................
0,360,080 1,300.382
414,874
477,5u8
Philippine Islands........ ................
2,723,927
2,540.948 20,044,874 82,900,004
Other Asia and Oceanica................
481,045 0,775,018 8,030,480
104,562
British A frica ....................................
8,192
05,106
900,010 3,401,088
All other A frica.................................
16,034
29,551
Total yards oC above..................
T ota l values o f ab ov e ...............
Value per yard..................... .............

37,6-8, **7 425,618.904 470.28 ,s0O
$2,0*5,70o $l,810.1e0 $20,869,313 tl0.885.2s4
1-0529
$-0509
$0611
$-0620

39,000,091

Values of other M anufactures of
Cotton Exported to—
United K ingdom ...............................
Belgium ...............................................
France..................................................
G erm any..............................................
Netherlands........................................
Other Europe.....................................
British North A m erica....................
Cent’ l Am erica A Brit. Honduras.
M exico..................................................
Cuba....................................................
Other W est Indies and Bermuda..
Argentina............................................
Brazil....................................................
Chili ....................................................
Colom bia.............................................
V enezuela...................................... ..
Other 9outh Am erica.......................
Chinese Empire.................................
British East Indies...... ....................
H on g K on g........................................
British Australasia...........................
Philippine Islands..........................
Other Asia and Oceanica................
British A frica ....................................
A ll other A frica .................................
O th er countries.................................

182.289
3,474
649
02,080
1,048
5,747
122.931
27,831
39,307
18,8*5
20.782
32,029
8,072
637
0,905
701
0.918
1,640
100
2,713
48.494
2,407
8,380
19,323
442
865

T ot. value o f oth. m anufact’s of.
A ggregate val. o f all cotton goods

1521.651
$2,617,250

$827,159
06.266
80,034
700,420
14.178
62 955
2,111,438
324.081
439,032
158,313
200.676
211,854
81,143
29,311
70,89s
17,328
40,342
64.460
7,241
21,048
409 770
87,687
89.84*1
150,503
28.198
10,746

$084,473
77.451
32,180
580,704
27,101
79,0-7
2.105,450
5o6.687
449,048
108,104
171,783
128,618
48 080
15.939
61,051
18.303
49,900
125,164
5,904
14,183
845,746
42,757
03,568
72,291
18.021
10,410

Total balet,
Y o r k —T o Liverpool, per steamers B ohem ian, 2.473_
_

Nomadio, 2,013......................................................................
To London, per steamer Minnetonka, 743............................
To Havre, per steamer Lothian. 345...... ........................... .
To Bremen, per steamer Hannover, 919................... ...........
To Antwerp, per steamer Vaderland, 1,203...........................
To Keval, per steamer Nicolai II., 225...................................
To Genoa, per steamers Skilla. 450_ Trojan Prince, 1,539
_
To Piraeus, per steamer Seriphos, 100..................................
To Vera O u z, per steamer Vlgdancla, 10..............................

4,486
746

345
919

1,203
225
1,989
100
10

23,700
466
2,350
5,864
9,4 8 0
925
1,131
2,443
12,009
1,310
2,900
4 ,6 7 4
15,690
9,921
19,718
6,789
1,400
6 .1 7 0
2,300
3,675
1,951
33,519
1,900
4,450
2,250
400

10 0

350
5.375
3,236
100
6,699

475
8,250
400
754
5,392
37 7
1,057
39 3

706
1,877
3,400

Total...................... — --------- ----- --------- -------------------------------- 226,549

Exports to Japan since Sept. 1 have been 104,287 bales from
the Pacific Coast, 2,700 bales from New York and 400 bales
from Norfolk.
L iverpool .—By cable from Liverpool we have the follow
ing statement of the week’s cables, stocks, &c., at that port,
Jan. 9.
(Hies of the w eek .......b ales.
Of which exporters took ...
Of whloh speonlators took.
tales American..................... .
Actual export....................
Forwarded.................... ........
total stook—Estimated..........
Of whloh American—Est’d.
total Import of the w e ek .....
Of which A m e r ic a n .........
Of which American..............

Jan. 16

62.000
2,000
3,000
52.000
12.000
102,000
643.000
566.000
153.000
125.000
9.97 nnn
190.000

Jan. 23

Jan. 30.

48 000
1,000
1,100
44.000
19.000
70.000
619 000
544,000
65.000
38.000

62,000
1,400
3,300
54.000
7,000
75.000
6 36 000
584,000
99.000
89.000

76.000
1,000
11.000
66.000
11,000
103.000
665.000
587.000
145.000
108.000

245.000

221,000

165.000

oan non

The cone of the Liverpool market for spots and futures
each day of the week ending Jan. 80 and the daily closing
prloesof spot ootton, have been as follows.
Sat’day. Monday. Tuesday. Wed’day. Tkursd’y Friday.

Market, )
12:80 p . m . J

Easier

Easier.

Mld.Upl’ds.

4-78

4-74

4-78

Sales............
Spec. A exp.

8.000
1,000

12,000
1,000

15.000
1,000

F irm er.

G ood
Harden’g. dem and.

4-86
12 000
1,000

G ood
dem and.

4 90
12 000
2,000

4-86
12.000
1,000

Sutures.
t ’dy
Market f Br’ly st.’ dy Br’ ly spt*. Quiet at Firm at Staady at Steady at
1@2
4 pts.
2 pts.
opened. ) unchang’d decline. partially advance.
1 pt. dec. 1(26 pt|. advance.
decline.

Market, {
4 P. M.

)

Q uiet at Steady at Steady a* Quiet ai Steady at Steady at
1 pt.
1@3 pts. 1@4 pts. 3@ 3^ pts. 234 pts. 1@1H pts.
decline.
deoltne
advance. advance. ad vaoce. decline.

The prioes of futures at Liverpool for eaoh day are given
below, Prioes are on the basis of Uplands, Good Ordinary
slause,unless otherwise stated.
s*s.

(V o n .

T oe*.

W ed.

Jan. 24

$477,09 $6,4U5,594 $0,157,471
$2 887,873 $33,274,907 $70,042,765

S h ip p in g c ib w b .— a s snown on a previous page, the
azports of cotton from the UnitedStates the pastweek have
reached 226,819 oales. The shipments In detail, as made up
from mail and celegraphio returns, are as followsN bw

Total bales.

Nb w O r l e a n s — o L iv e r p o o l—J a n 2 9 —Steam er M eohanioian.
T
1 8 .0 0 0
Jan. 30 Steam er Senator, 5 ,7 0 0 ...........................
T o D u b lin —
Jan . 29 Steamer Malin Head, 4 6 3 .......................
T o H a v r e -J a n . 2 8 —Steam er Otanez, 2,350 .............................
T o D u n k ir k -J a n . 2 3 —Steam er D egam a, 5 .8 6 4 .......................
T o Bremen -J a n . 27—Steam er A shanti. 9.4 8 0 .........................
T o H a m b u rg —Jan. 2 7 —Steam er Barendreaht. 92 5 ................
T o R otterdam —Jan. 23—Steam er R osslyn, 1 ,1 3 1 ..................
T o A n tw e rp — a o , 2 4 —Steam er 8trabo, 1 ,0 9 8 ___ Jan. 2 9 J
Steam er Otanez, 1,350...................................................
T o G e n o a —Jan. 27—Steam er D innam are, 8 ,3 0 9 ...J a n . 30 —
Steam er A bbazla, 3 .7 0 0 ..................................................
T o N aples—Jan. 2 6 -S te a m e r D innam are. 1 ,3 1 0 _____ ____
T o Trieste—Jan. 24—Steam er O lym ph, 2 ,1 0 0 ....J a n . 8 0 Steam er A bbazla, 8 0 0 ....................................................................
T o V e n ic e -J a n . 24 Steam er O lym ph, 3 ,6 2 4 ___ Jan. 3 0 Steam er A bbazia, 1 ,0 5 0 .....................................
» a l v *!8Ti> - T o L iv e r p o o l-J a n . 2 4 —
n
Steam er Ira d a , 12,555
---- Jan. 27—Steam er D arien, 3 .1 3 5 ................................ .........
T o M anchester—Jan. 22 -S tea m er A su n cion d e Larrinaga,
9 9 2 1 ......................................................................................... . . . . .
T o H a v r e -J a n . 2 4 —Steam er Trenthau H all, 13,182........
JaD. 2 9 —Steam er B enedict, 6,536 ............................................
T o Bremen -J a n . 2 4 —8team er P enrith Oastle, 6, 789............
T o H am burg—Jan. 3 2 —Steamer A lbert Treves, 1.400 .........
T o A ntw erp—Jan. 2 7 —Steam er St. N icholas, 6 .1 7 0 ..............
T o Vera C ru z—Jan. 3 0 -S te a m e r S altw ell, 2 ,3 0 0 ...................
PBN *aOOLa —To L iv e rp o o l—Jan. 23—Steam er L eonora, .3.675.
To B rem en —Jan. 22 -S te a m e r M anchester C orporation
(additional), 1,951...........................................................................
S a v a n n a h —To B rem en —Jan. 2 6 -S te a m e rs N ordfarer, 12,874;
R ok eb y , 6 ,2 5 2 ...J a n .29—Steam er Low ther Castle, 14,393
T o A m sterdam —Jan. 2 6 —Steam er Zeebnrg, 1.900 ............. .
T o A n t w e r p -J a n . 2 6 -S tr s . R >k^by. 4,260; Zeeburg, 2 0 0 ..
T o R e v a l—Jan 2 6 —Steam ers R ok eb y, 210; Z eebnrg, 1,350
-----Jan. 29—Steam er L ow th er C astle, 7 0 0 .............................
T o R tg a -J a n . 2 6 —Steam er R okeby, 4 0 0 ....................................
T o C hristian a—
Jan. 2 6 —Steam er Zeebnrg, 1 0 0 .......................
T o G otten burg—Jan. 2 6 —Strs. R okeby. i5 0 ; Zaeburg, 20 0 .
T o B a rcelon a Jan 29 Steam er A neu ste, 5 ,3 7 5 ............ .......
T o G en oa —Jan. 29—Steam er A uguste, 3 ,2 3 6 ....... ...................
T o Trieste—Jan. 29—Steam er A ugu ste. 1 0 0 ....... ................. ...
C h arlesto n —T o B rem en—Jan. 2 3 —Steamer W oodburn, 6,699
No r f o l k —T o L iv e rp o o l Jan. 2 4 —Steam er C astano, 4 7 5 ....... .
T o H a v r e -J a n . 2 7 —Steam er Joh n C everdale. 8 ,2 5 0 _______
T o Japan—Jan. 29—Steam er Sagam i, 4 0 0 .................................
N e w p o r t N e w s —T o U v e r p o o l—Jau. 2 4 —Str K anaw ha, 7 5 4 ..
B oston T o L iv erp ool—Jan. 2 2 —Steam er D ev on ian , 3 ,7 0 3 ___
Jan. 2 7 -S te a m e r Saohem , 1,619.. ...........................................
T o M anchester—Jan. 2 3 —Steamer G eorgian , 3 7 7 ..................
B a l t im o r e —To L tv e r p o o l-J a n . 2 3 —8tr. U lsterm ore. 1 ,0 5 7 ...
P h il a d e l p h ia —To L iv erp ool -Jan . 21—Str. R hyn ian d, 3 » 3
P o r t l a n d , M e .—T o L iv e r p o o l—Jan. 17—Steam er M anxm an,
1 8 8 — Jan. 27—Steam er O ttom an, 5 1 8 ......... .......................
Ban FBAN0I80O—To J a p a n —J a n 2 3 —Steam er G aelio. 1 ,8 7 7 ...
8 e a tt le - T o J a p a n —Jan . 27—Steamer K inshlu M aru, 3 ,4 0 0 ...

Spot.
$78,636
4,439
1.508
48,136
2,"4b
1,927
160,254
33.718
20,020
10,910
10,778
11,1*07
10.036
1,320
6,209
063
4,821
2,037
318
812
44,173
6,004
2,961
6.061
841
2,843

[VOL. L X X V I .

Jan. 26

Jan 27

Jan. 28

12i*

4

12i*

d

d.

12i« 4 12% 4
p M. P M. p M. P
d.

d.

J a n u a r y ___
J a n .-F e b ___
Feb -M o k ...
M oh.-A pril..
A p ril-M a y ..
M a y -J u n e...
June J u ly ...
J u ly -A u g . . .
A u g .-S e p t...
S ept.-O ct—
O ot No t ___
N ov.-D eo..

4 72
4 72
4 72
4 72
4 75
4 74
4 74
4 74
4 67
4 47
4 36
'
*

4
4
4
4
4

71
71
71
71
72
73
73
73
65
47
36

<.
%

i

4

12i*

4

it.

it.

1

p M. P• P H. P M. P M. P . M. P M. P.K .
M.

4,

d

4 67 4 68 4 71 4 72 4 78 4 76

1 67
4 67
4 es
4 69
4
4 70
4
4 70
4
4 69
4
4 62
4
4 45
4
4 31
... . ...

T h ors.
F rI.
Jan. 29 Jan.30

d.

d.

4 81 4 80 4 78 4 79

4 68 4 71 4 72 4 78 4 76 4 81 4 80 4 78 4 79
4 68 4 71 4 72 4 78 4 76 1 91 4 80 4 78 4 79

4
4
4
4

69
70
71
71
4 71
4 63
4 46
4 35
....

4 71 4 72
4 72 4 73
4 73 4 74
4 73 4 74
4 73 4 74
4 65 4 66
4 46 4 47
4 35 4 36
-- .

4
4
4
4
4

79
74
90
80
80
4 72
4 51
4 40

4 76 4
4 77 4
4 78 4
4 79 4
4 77 4
4 69 4
4 50 4
4 39 4

81
82
83
83
82
72
53
42

4 80
4 80
4 81
4 81
4 81
4 71
4 52
4 42

4 78
4 79
4 80
4 bO
4 79
4 70
4 51
4 40

4
4
4
4
4
4
4
4

79
79
80
80
80
70
51
41

THE

J anuary 31, 1903.]

CHRONICLE

J u t e B u t t s , B ag g in g ), E t c .— The market for jute bagging
has continued very dull during the week under review, with
prices nominally unchanged at 6c. for 1% lbs. and 6 % c. for
2 lbs., standard grades. Jute butts in very limited request
at
for paper quality and 2@2>^c. for bagging quality.

279

DAILT CLOSING PRIONS OF NO. 2 MIXRD CORN IN C H I C A G O .

Sat.
Jan. delivery in elev....... 46%
May delivery In elev....... 44%
Julv delivery In elev___ 433a
Sept, delivery In elev___ 43%

Mon.
48
45%
43%
4338

Tuet.
45%
44%
43%
43*4

Wed.
45%
44%
43*4
43*4

Thurt.
45*4
45
4338
43%

Pri.
46
44%
43%
43%

Oats for future delivery at the Western market have been
moderately active, and during the first half of the week
prices showed a declining tendency, the weakness being most
BR EADSTUFFS.
pronounced in the near-by deliveries, due to large receipts
F r i d a y , Jan. 30, 1903.
and the inability to obtain satisfactory railroad facilities for
Reflecting the break in pricesjfor the grain, there has been an shipping supplies forward to the consuming markets in the
East. On Thursday there was a stronger turn to the market
easier turn to the market for wheat flour, quotations for most on fair buying for spring shipments. Locally, the spot mar­
spring-wheat grades of flour being lowered from 5 to 10c. per ket has weakened slightly under a small increase in the re­
barrel. The volume of business transacted has not improved ceipts. To-day the market was quiet.
DAILT CLOSING PRIORS OF OATS IN N E W Y O R K .
at the lower prices, local buyers preferring to hold off, await­
Wed. Thurt.
Sat.
Tuet.
Pri.
Mon.
ing further developments. The undertone of the market at NO. 2 mixed In elev....... 44
44
43
43
44
43%
the decline was reported firm, with stocks in jobbers’ and No. 2 white in elev ....... 44%
44%
44
44
44%
44
consumers’ hands small. City mills have been quiet. The
DAILT CLOSING PRIORS OF NO. 2 MIXRD OATS IN C H I C A G O .
demand for rye flour has been limited to a very moderate run
S a t.
Tuet.
Wed. th u rt. Pri.
Mon.
33%
Jan. delivery In elev....... 34*4
33
33%
33%
34*4
of jobbing orders, but prices have held to a steady basis.
36
36*8
May delivery tn elev___ 38%
36
35%
36*4
Buckwheat flour has been quiet and unchanged. Corn meal July delivery In elev___
32%
32%
32%
32%
32%
32%
has been sparingly offered for prompt delivery and prices
Following are the closing quotations:
have been firm.
FLOUR.
Speculation in wheat for future delivery has been active,
Patent, w in ter___93 85 0 4 15
particulariy in the Chicago market. Prices have had a de­ Fine........................ 92 60 0 2 65
75 0 80
Chty mills, patent. 4 40 0 4 75
cided tumble, due to the cessation of aggressive operations Superfine,________ 2 85 • 2 90
2
Extra, No. 2 . ______ 2
Rye flour,superfine 2 90 0 3 55
by the leading bull interests, and in its place active selling to Extra, No. 1 .. ___ 2 95 • 3 20
Buolrwheat flour.. 2 20 3 2 25
Corn meal—
liquidate speculative holdings for May delivery. The reports Olears... . . . . . . . . . . . 3 15 0 3 50
W estern ,eto...— 3 00 0 3 05
.......... 3 55 0 4 15
current in the trade have placed the amount of long wheat S t r a ig h t srin g .... 4 15 0 4 75
Patent, sp
Brandywine . . . . 3 10 0 3 20
sold at from 15,000,000 to 20,000,000 bushels, most of which
(Wheat flour In sacks sells at prloes below those fo r barrels.)
was marketed on Tuesday, when prices on the Chicago
GRAIN.
market for May delivery showed a net decline for the day of Wheat, per bush—
o.
c.
Corn, per bush.—
e.
c.
2%c., and in the New York market the price for the same de­
Hard Dal.,No. 1 .. f. o. b. 89%
Western mixed.............56 0 6 0
W
’thern DuL, N o.l t. o. b 88
No. 2 m ixed------t o . b.60
livery declined l% c. per bushel. The liquidation continued
Red winter. No. 2 f. o. b.81%
No. 2 yellow ...............
t o. b.59
on Wednesday, and the low prices for the day show an ad­
Nort’n DuL No. 2. f. o. b ........
No. 2 white..............
f.o . b.59
ditional decline in the Chicago market of l ^ c . and in New Oats—Mix’d,p.bush. 42%®45
Rye, per bush—
W estern ................. . „ 5 7 » 6 2
W h ite............ ....... 43 % O 46
York lc., but before the close of business for the day part of
No. 2 m ixed ......... 43 % «44 %
State an dJ ersey..........56 0 5 7
this decline was recovered and it was the general belief that
No. 2 white........... 44 0 4 5
Barley—West................. 56 0 63
Armour & Co., who were the principal holders of this large
Feeding................ . . . . . . 4 7 0 5 0
long interest, had sold out. On Thursday there was a steadier
T a c o m a ’ s E x p o r t s o f W h e a t a n d F l o u r in 1902.—The
market early on stronger European advices and reports of
lees favorable weather conditions. Subsequently, however, port of Tacoma is becoming increasingly prominent each
there developed renewed selling to liquidate loDg accounts, year as an exporting point for wheat and flcrur. Daring the
and prices declined. Towards the close the market again
turned firmer on fairly active buying, stimulated by advices year 1902 there was exported from the various Puget Sound
from the West saying that very cold weather was reported ports 12,949,484 bushels, or one-tenth of all the exports from
from the Northwest, and that there was apprehension for the the United Sta'es, Tacoma’s portion being 11,829,093 bushels.
winter-wheat crop, which had practically no covering of Of flour 1,630,555 barrels were shipped from the district, of
snow. Prices for July delivery showed the greatest advance.
Early in the week the export business in the spot market fell which there went from Tacoma alone 1,351,224 barrels.
to very small proportions, but subsequent to the break in
The movement of breadstuffs to market as indicated In the
prices shippers showed renewed interest, although not buying statements below is prepared by ns from figures collected
as freely as recently noted. The yield of the Argentine by the New York Produoe Exohange. The receipts at
wheat crop is estimated at 120,009,000 bushels, against Western lake and river ports for the week ending Jan. 24,
75,000,000 bushels last year. To-day the market was tnd since Aug. 1, for eaoh of the last three years have been:
easier under disappointing European advices, only a limited
export demand and more favorable weather in the West. BtetiyU at— Flour.
Oats.
Barley.
Wheat.
Corn.
Bye.
The spot market was easier. The sales for export here and
Bbu.ioaibt Buth.QO lbs Bush. 66 lbs Bush.32 lbs Bush.iS lbs Bu.50 lbs.
at outports were 144,000 bushels.
BAILT CLOSING PRICES OF NO. 2 RBD WINTER WHEAT IN N E W Y O R K *
Sat.
Mon.
Tuet.
Wed
TAwt.
Pri.
8258
Gash wheat 1. o. b ............ 843s
83%
8 1 78
81%
82%
March delivery in elev... . . . .
835a
85%
82%
82 7s
835s
May delivery In elev...... 83%
8l %
81
83*4
81*8
81 7a
July delivery In elev....... 8038
80
78%
783s
78%
79%
DAILY CLOSING PRIORS OF NO. 2 SPRING WH1AT IN C H IC A G O .
Sat.

May delivery In elev....... 82
Jnly delivery In elev....... 76%

Mon.

81%
75*4

Tuet.
79
743a

Wed.

Tkurt.

Pri

78*8

78%
75

77%
74%

74*4

ik le a g o .........
M ilw a u k ee.
i s l u t k .........
il n n s a p o l l * .
P ola d o...........

U s v s la n d . . .
it. L o n l i . . . .
’ s o r t s ...........
(auaaa C ity-

180,247
15 3C0

.......

4 400
14,640
87,955
81,125

406,816
120,000
197,387
8,102,910
64,000
S7.3E0
11,706
451,812
86.400
647,200

2,468,727
68,900
154,760
457,000

72 278
282,184
907,346
4'5,000
747,300

2,508,600
181,600
69,183
617,160
77,300
86,766
106,935
480,000
242,600
207,800

624,000
504,150
25,406
188,470

8,573
108,000
68,800

38,960
29,000
4,144
86,480
8,200

...... . ,
54,000
4,800

1,420,701
3,980.120 5,623,819 4,536,943
170,574
fot.w k .1 9C 3
268,578
Indian corn 1 utures have been moderately active. The
886.891
119,772
2.814 578 8,071,406 2,912,263
293,156
feature cf the New York market has been the strength of la m s w k .’ta.
904,965
110,339
8 066,525 6,916,981
819 483
3,428,408
Januaiy delivery, due to the small receipts at this market tam o w k .’ Ol.
and the anxiety on the part of shorts to cover contracts. 8intt Aug. 1.
Advices received on Thursday from Chicago say that the ISOS-0 3 ........... 11,880,592 182,028,863 72,637,799 102,697.931 37,894,123 0,870,094
1901-08.........
11,514,398 167,192 000 75,763,948 82,819,910 82,461 665 3,988,469
Eastern railroads,which expected to receive grain this week, 1900-01...
10,104.470 146.980,761 112.240.2S2 91.146 519 31,887,161 3,131,119
may further continue their embargo, and there is d o sign of
The receipts of flour and grain at the seaboard ports for
relief in the oar situation. In the Chicago market liquidation
of a long interest in May, estimated at about 3 000.009 bushels, the week ended Jan. 24.1903, follow:
cer«,
B a r i* *
W**at,
O at*.
F leu r,
B t«.
on Wedmsday received considerable attention. Despite this,
hush.
MttJk.
bush
b u tt.
kbit.
bush.
selling prices for the day held steady. Thursday there was W h tttiy tt a t—
50,600
3,600
14 2 000
iw York..........
S6O.C00
201,000
4,135
5.8C0
204,312
121,778
228,150
a firmer market on reports that supplies in the southwestern B taton.............
;>atreal. .........
5.249
29,862
2,410
section of the corn belt were being tafeen via the Gulf ports M iiladalpnla^... , , , ,
75,949
313,6C
8
3,800
36,865
V
28,727
607.4< H
109,949
53 94 5
and were not likely to go to Chicago nor the Atlantic ports. Baltimore.........
4.8.106
14.160
10.060
During the first half of the week the weather was reported ilehmond........
822, OtO
43,075
few Orla»n«*„.
108,200
206. i'S9
unfavorable in the corn belt for the moving and grading of *awport New*..
...... ........
11.144
18,000
corn, but during £,the latter part of the week the cli­ Norfolk..............
ef.DCO
lalvaston..........
149,100
48,950
matic conditions became more satisfactory. The “ Cin­ Pirtland, M e ,...
2 /5 0
Mobile-.............
cinnati Price Current” says that corn is being freely offered St.John, N B„..
2 3 ,ie c
238.194
from farmers’ hands and that much of the crop is still un­
69.010 *30,462
Total week.. ____ 271 743 1,211,919 2,607.181 ~~714,830
gathered. Only a limited amount of corn has been reported Week I9i 2 ..........
54,551
7,072
958,214
864 417
1,429.663
sold in the cash market for export, the inability of the rail­
• B eoetpt* d o n o t I n c lu d e gra in f i n i n g th ro u g h N aw O r i t a r i f c r f o r t h n
roads to promptly carry supplies forward to the Atlantic D irt* on t h r o u g h is 111a o f la d in g .
ports interfering with bueiness. To-day there was a steady
Total receipts at ports from Jan. 1 to Jau. 24 oompare as
market. The spot market was lower. The sales for export follows for four years:
here and at outports were 163,000 bushels.
1901.
1908.
19 CO.
1903.
Bsesiyt of—

DAILY O
LOSING PRIORS O f NO. % MIXRD CORN
_
Sat.
Mon. Tuet.
Gash norn f. o. b............. 62
69% 69%
Jan. delivery in elev...................
69%
69%
Maroh delivery In elev..
B5%
57 % 57
May delivery in elev....... 501%
50% 50**
July delivery in e le v .... 48%
48% 49%

Wed.
71
71
56**
50%
48%

YORK.
Thurt. Pri.
71
€0
71
....
57
57*4
50%
80%
49
49

1,476,407

IN N E V

1,061.451

1,513,776

1,478,111

0.861,367
1.3fP 010
3,362 618
237 877
63 280

8.091 900
18,947 841
4.978,2-4
081.<04
171.093

6.337,880
13 841,295
5.012,650
1,280,293
182.421

11,074,168

32,818.191

85,174,645

Barley..............

*T6...............

•
•
•
"

7.832,8*8
9,038,180
8,433,473
557,122
243.5S0

Total grain.

•
•

21,160,440

Corn..................

Data.................

THE

280

CHRONICLE,

The exports from the several seaboard ports for the weefc
ending Jan. 24 1903, are shown In the annexed statement:
Corn,
TFAiat,
busb.
.E xperts f r o m - bush.
219,018
N ew Y o r k ....... 451.075
B o e to n ............. 287,573
97,231
P o rtla n d , H a .
48.969
P h ila d e lp h ia ,.
24,0u0 306.114
820,796
B a ltim o r e .......
47,700
Mew O r le a n s .. 194,819 1,121.211
N o r f o l k ...........
12.0 jo
11,1*4
newo'rt News
----265,029
O a lr e it o n .___ 409,660
M o b ile ..............................
2,650
9 t . J o h n .N .B . 238.194
............

flo u r.
6M»
102.749
2a,*11
8,808
45.212
80,081
9,990

T o ta l w eek ..1,713.076 3,052,092
Sam e t im e ’ 02..1,190,962 103 011

262,858
244,119

Oats,
bush
8 726
8,500
.............
00
............
6,360

BM ,
b'tsh
17,601

P sa i,
busb
1,709

.Berts >
hush
69,6=0

to

1903.

7,000
60,117
.............

8.709
87,062

59,080
8,402

The destination of these exports for the week and since
Jnly 1,1902, is as below:
----------- Flour.— - — , ,----------Wheat.----------> ,-----------Corn,----------Week Sines July
Week Since July
Exports for
Week Since July
Jan. 94
1, 1902.
Jan 24.
1. 1902,
seeek a n d since Jan. 21.
1,1902,
bush.
bush.
bush.
bush.
Sept. 1 to—
bble.
bbls.
_____
U nited K in g d om
137,660 6,022.735
857.508 45,332 576 1,917.176 11,039,514
C o n tin e n t............
61.045
1,728.361
865,234 84,483.907 1,084,635 7,793 108
4 618
00.954
6,935
s . is O. A m erlO h.
23,186
658,891
.............
14,280
4« 8,037
250
W a it In d ie s .......
24.466
706,092
.............
120
161,316
1.600
■ r.N . A m . C o lo ’ S
1.041
131.304
.............
31,468
448.395
1,211,262
O th e r c o u n t r ie s
6,808 682,468
334

1903.

Week. Since J a n .l.

J a n . 26.

42,816

29,469
47,131
88,670

D omestic C otton G ood s , —'The exports 0 1 cotton goods
from this port fo r the week ending Jan. 26 were 16,818
packages, valued at $613 190. their destination being to the
points specified in the tables b e lo w :
Nb w Y o b k

561
2,401
7.201

[VOL. LXXVI.

ft tele. Since Jan, 1.

Great B r it a in ...... ________
43
Other B a r o p e a n ..................
( J i l i n * . . . . . . . „ „ . . . . . . . . . . 11,125
In d ia ......................
...........
112
Arabia....... ............................. 3,366
Atrloa..................................
686
304
West In dies........................... .
46
M exico................. ......... ..
230
Oentral Am erica_______ . .. .
666
South A m erica___________ _
240
O therC onntrle*. ______. . .

105
136
33,355
1,594
6,364
1,135
2,866
119
943
3,751
743

T o ta l.................... ..— . . . 16 818

51,111

S3
82

688
58
S3
8SO
83

158
202
6,804
1,724
1,760
1,007
2,213
130
246
3,995
781

1 997

19,010

......

200

The value o f these New York exports since Jan. 1 to date
has been $2,115,215 in 1903, against 1888,344 in 1902,
There has been no export demand of any acconnt for
brown sheetings and drills, but the home demand is improv­
1,713.076 81 036,589 3,052,092 20,007,40a
T o t a l ................. 252.258 9,728.461
1,190.86 3 91.634,571
lttt0 4 4 20.686,423 ing, particularly for 4-yard sheetings, stocks of which bave
•Total 1981-02....
242.119 9.828.439
The visible supply of grain, comprising the stocks in been cleared np. Prices are very firm, with a tendency
granary at the principal points of accumulation at lake and against,buyers. Ducks have been in moderate request without
seaboard ports, Jan. 24, 1908, was as follows:
change in prices. Brown osnaburgs firm, with a moderate
B aris*
B y i,
demand. The tone of the market for all grades of bleached
O a t l,
Wheal,
Corn,
bush.
lM it* r « * t—
bu sk.. cottons is firm and the demand fair.
busk.
bush.
bush,
Stocks are small and
28,000
161,00°
673,000
K *w Y o r k .............
261,000
higher prices are probable within the next week or two.
Do
a flo a t.
H o lto n ..................
93.000
16,000
Wide sheetings are scarce, some makes being withdrawn from
182t0(.0
189 00G
P h ila d e lp h ia ___ .......
263.000
68,000
166,000
themirket. Sheets and pillow cases firm. Occasional ad­
285 J00
B a ltim o re...........
...........
613.000
99S.00C
H e n O r le a n s ....
vances of J^c. have been reported in denims and tickings and
801.000
G alY eitoD . . . . . . . . . . .
763.000
62,000
8,000
40.000 other coarse, colored cottons are very firmly held.
Kid-fin­
40.000
M o n tr e a l..............
5,000
T o r o n t o ...........
81,000
971,000 ished cambrics are tending upwards in sympathy with print
147,000
B u ffa lo.................
cloths. The demand for prints, both staples and fancies, has
11,000
271,000
T o le d o ..........................
959,000
539.000
been of fair extent. Prices are firm and advances in some
DO
a flo a t ..............................
70,000
' 80,666
48,000 lines of staples are looked for.
Printed flannelettes are un­
M e tro lt............. ...........
580,006
109.000
Do
a flo a t ..............................
D jmet fabrics are well sold for fall, and occasion­
OhlOagO.......................... 7,845.001'
859,666
"l.OOO changed.
612,660
2,388.000
ally 5 per cent higher. Staple giDghams continue scarce and
Do
a flo a t .........
243,000
170.000
289.000
ii7,odo
isV.boo
H llw a n k e e ...................
568.900
43,000
firm, and fine ginghams are considerably oversold. Regular
Do
a flo a t ..............................
print cloths have sold at 3 3-16c., but at the close sellers de­
f t . W l l l ’m ft P t.A r th u r 3,231,000
S a l n t h ............................ 8,907,000
65,000
807,000 clined to accept that price, 3j^c. being asked.
843,666
1,000
Narrow and
Do
a flo a t..............................
430.000 wide odds have both advanced l-16c. to yz c. per yard.
87,060
957.000
7l',0<)6
M in n e a p o lis ..................14,868,000
S t. L o u is ........................ 8,793,000
1,000
86,000
25,000
1,293,000
F oreign D ry G oods.— Business in fine lines of imported
Do
a flo a t ...........
............
332.000
‘Vo,'666
X m s a s C l t y ................ 1,797.000
dress goods has been on a fair scale, and the market con­
65,000
424.000
287.000
P e i r l a ............................
814.000
tinues firm. Ribbons and silks are firm also, with fully an
1,000
131.000
I n lls n a p o lls .................
293,000
16,700
o n M ississippi R i v e r ...................
average business doing. Linens are in good request at full
On L a k e s ..........................................
prices. Burlaps show an advancing tendency, with an im­
O n c a n a l a n d r i v e r ........................
proved demand.
1.003.000
2,298,00C
4.009.000
7.885.000
T o th ! J an . 24, 1903., 49,055.000
T jt a i J a n .
T otal Jan.
T o ta l J an ,
T o ta l J an .

17,1 90 3 ..
2 5 ,1 90 2 ..
2 6 ,1 9 0 1 ,.
2 7 ,1 9 0 0 ..

T HE

40,727.900
69.871.000
60,791,000
56,690,000

DRY

7.030.000
11.032 000
14.137.000
14.620.000

4.190.000
4.133.000
10,154,000
5.332.000

GOODS

1,071,010
2.441.000
1,214,900
1.103.000

TRADE.

2.802,000
2.073.000
1 939.0C0
1.700.000

Importation*? and W a r e h o u s e W ith d ra w a l* ot Dry G o o d *

The importations and warehouse withdrawals of dry goods
at this port for the week ending Jan. 29, 1903, and sinoe
January 1, 1903, and for the corresponding periods of last
year are as follows:
T o t a l l m p o r t s ........

T o t a l ....... ....................
S n t’ d f o r o o n s u m p .

N ew Y ork . F r i d a y , P. M., Jan. 80,1903,
There has been a considerable number of buyers in the
iP r ? S |
market this week and the demand has been larger and more
i i i Ti 1
general, but the actual volume of business done in the cot­
0 • • 1 2 N
01 \ \
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ton-goods division of the market is still restricted by the
* ! I • * »
• a a l | 2.
condition of the market at first hands. In no direction is
S• a a a |
a a a • |
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J anuary 31, 1903.]

THE

CHRONICLE.

gT*T£ 7IUD City DEPARTMENT.
News Items.
Caddo, Comanche and Kiowa Counties, Okla.— W a rr a n ts
Valid .—The following is from the Dallas “ News

281

Bcmds o f 1°81—N os 18, 69, 71.8il. 212. 286. 287, 304. * O l,4 0 t. 608. 6L2. 601.872,
679, 693, 877. '•88. 89 , 901. 10iB, 1026, 1059, 1063, 1303. 1804, 1811, 1345, H 27, 1188,
1501. 1600. 1603. 1657, 1701, 1702, 1852, 1876 1884, 1901, 2008, 20"W, 2062, 2074,
2202, 2 2 '3 . 2204. 231 3, 2402. 2507, 26*2. 2639, it- 38. 2688. 2690. '7 1 6 , 2807, i 884,
2912, 3037, 8044, 3103, 3281, 3265, 8266. *< 01. 4' 90, 40-9, 409 \ 4259. 42e4, 4280,
4308. 4101. 44^4, 4475, 4476,4698, 4716, 4717, 4788, <308. 48' 9, 48l0, >811.
W h a rf B o n d s —N os. 8473, 3478. 3607. 3 6''«, 3551. 3603, 3604, 3653, 86E«, SC80,
3677, 3' 81, 8682, 3704, 3705, 3747, 8800, 3806, 3827, 3850, 3859, 3860, 3887, 3934,
3946, 3967, 3970.

New York City.—B ond C all.— Edward M. Grout, City
Comptroller, calls for payment Feb. 2 at bis office, Room 39,
op in io n su sta in in g the v a lid ity o f $300,000 w orth o f s ch o o l w arran ts Issued In Stewart Building, No. 280 Broadway, the 4£ arrearage bonds
th e th re e new O k lahom a co u n tie s o f C addo, K iow a and C om a n ch e.
of the city of Brooklyn issued in 1883. These bonds were
A ft e r th ese co u u tle s w ere fo rm e d , six te e n m on th s ago, it was n ecessa ry to
b u ild s ch o o l h o u ses b e fo re th e H rs tta x lev y was m ade, t h e re fo re th e d istricts authorized by Chapter 572, Laws of 1880, and Chapter 443,
Issued w arrants to pay f o r th e c o n stru c tio n . T h e A tto rn e y -G e n e ra l h o ld s Laws of 1881.
They mature July 1, 1923, but have been
th a t th ese w ere legal.
call since July 1, 1893.
Chicago, 111.—Bonds C annot be Issued Payable Out o f subject toConnty, Wash.—B on d Call. —Jno. B. Reed, CcuDty
Pierce
R ents or Profits.— The Chicago “ later-Ocean” on January 0
Treasurer, calls for payment February 13 at the National
contained the following :
Bank of North America, New York City (the State’s fiscal
W ith o u t e xp ress legisla tive a u th o rity th e c ity ca n n o t Issue b o n d s to lo w e r
agents), 6? funding bonds Nos. 51 to 71, inclusive, Series
tu n n e ls , p urchase street railw ays o r c o n s tr u c t subw ays m ade p a ya b le o u t o f
th e ren ts o r prohts o f th e p rop erties p u rch a sed o r cre a te d . By an op in io n
No. 1, issued June 1, 1891.
t o th is effe ct re n d ered y es terd a y , C orp ora tion C ounsel W a lk er killed all the
San Miguel Connty, Colo.—B ond C all.— E. M. Arthur,
m u n lo lp a l-o w n ersh ip p rojeots b ased on p aying f o r th e p rop erties o u t o f th eir
in co m e .
County Treasurer, called for payment January 20 at his office
T h e op in io n was re n d ered o n th e p ro p o s itio n o f A ld erm en S cu lly t o Issue
$l,6u0,00i> in Interest b ea rin g ce rtifica te s to p ro v id e fo r the m o n e y fo r lo w e r­ in Telluride or at the banking house of E. H. Rollins & Sons,
in g th e tu n n els. A ld erm a n S cu lly prop> sed t o p led ge th e In com e rece iv e d
Denver, the following bonds :
fr o m th e licen se fe e s paid by th e N orth and W est Side tra ctio n com p a n ies,
G u t h r ie , O kla., D ec. 31.—A tto rn e y -G e n e ra l R ob erts has h and ed d ow n an

and the receip ts from rentals o f th e tu n n els t o th e p a ym en t o f th e ce rtifi­

ca te s. T h e op in ion was prepared by E d ga r B. T olm a n . A tt o r n e y fo r the S p e c­
ial A ss e ss m e n t B ureau o f th e B oard o f L o ca l Im p r o v e m e n ts, and was a p ­
p ro v e d by Mr. W alker.
M a jor T o lm a n d ecla res th e p rop osition t o p led ge th e car licen ses Is illegal.
H e bases his d e cis io n o n th e finding o f the S u p rem e C ou rt In th e A lex a n d e r
case, in w h ich th e c ity o f J o lie t a ttem p ted to issue bon d s to co n s tru c t an a d ­
d itio n t o its w a ter-w ork s p lan t, secu rin g th eir p a ym en t by a m ortg a g e on th e
e n tire w a ter-w ork s system , old as w ell as new .

F u n d in g b o n d s, “ S eries C,” N os. 70 t o 79, incl.. 11,000 e a ch . D a te , J a n . 1,1885
F un d in g b on d s, “ S eries D ,” N os. 80 to 99, in cl., $:0 0 eHCh. D ate, Jan . 1, 1885
F u n d in g b on d s, “ S eries E .” N os. 100 t o U S. In cl., H.tOO e a ch . D a te , J a n . 1
1888.
F un d in g b o n d s, “ S eries F ,” N o s. 125 to 1 80 ,Incl., $500 e a ch . Date, J a n . 1,1888.
J u d g m m t b on d s, “ S eries A ,” N os. 1 to 25, incl., $1,000 ea ch . IJate, J u ly 1,1892.
J u d g m e n t bonds, “ S eries B ,” N os. 2d t o 71, in cl., $500 e a ch . D a te, J u ly 1,1892

Slater, Mo.—B on d C all. —Bond No. 1 for $500, dated Dec­
r [For decision in Joliet suits see V. 73, p. 94; V. 74, p. 491, ember 31, 1877, was called for payment Jan. 2, 1903. Inter­
and also editorial in S tate and C it y S u pplem ent for Octo­ est, 5£.
South Omaha, Neb.— W a r r a n t C all.— City Treasurer E. L.
ber, 1901.]
T h e c ity o f J o lie t has an o u ts ta n d in g In d eb ted n ess e x c e e d in g th e 6J lim it. Howe called for payment January 16 the following warrants;
T h e S uprem e C ourt h eld th a t, b y p led gin g th e old p lan t to pay th e b on d s, the General fund up to and including registered warrant No.
c ity a u th orities red u ced b y th e value o f th a t p lan t th e s e cu rity o f th e h olders
o f th e old in d e b ted n ess. M a jo r T olm a n says th e p led gin g o f a part o f C h i­ 1925, salary fund No. 999, fire and water to and including
ca g o ’ s Incom e w ould red u ce th e secu rity o f p resen t b o n d h o ld e rs , a n d c o m e
No. 846, police fund No. 1259, street repair No. 434, public
w ith in t h e p ro h ib ition o f th e d e cis io n in th e A le x a n d e r ca se.
W ith o u t exp ress a u th ority to cre a te a p ecu lia r class o f In d eb tedn ess, Mr. light No. 169, water fund No. 91, judgment No. 164, library
T o lm a n h o ld s th a t su ch p ow er ca n n o t be e x ercised .
No. 12. Amount of call about $90,000.
Tennessee.—B onds Purchased.— State Treasurer Folk on
Jefferson County, Ala.—Bonds V alid .—The State Supreme
Court has held valid the Aot authorizing the issuance of January 6 purchased from Farson, Leach & Co., through the
$500,000 bonds for the construction of sanitary sewers, thus Lynes Banking Co., $57,000 of State bonds at 97$£ and inter­
affirming the decision of the„ Chancery Court of Jefferson est.
County. See V . 75, p. 1306.
Sionx Falls, S. Dak.— Injunction G ran ted .— The St. Paul
Bond Proposals and Negotiations this
“ Pioneer Press” states that R. J. Wells, a local attorney,
has secured an order restraining the city of Sioux Falls from week have been as follows :
selling bonds in the sum of $50,000 for the commencement of
Abingdon, 111.— B ond Sale.— This city has sold an issue of
work on a municipal water works plant. The restraining or
der was based on the ground that the indebtedness of the city $4,050 5£ 1-8 year (serial) water bonds dated Jan. 1, 1903, to
now exceeds the constitutional limit. The case will imme­ Thos. J. Bolger Co., Chicago, at 101’25.
Alabama.—Acts o f the S tate L eg isla tu re.— W e give below
diately be taken before the State Supreme Court, and on its
decision will depend the right of the city to construct a various bond bills which have been under discussion in the
municipal water-works system. See C hronicle Dec. 13,1902, State Legislature, giving the present status of the same.
Jan, 3 and 24, 1903.
B il l s I n t r o d u c e d .
Winnsboro, S. C.— C harter E lection .— The Charleston
C oun ties —H. B. No. 84, authorizin g election s fo r bonds fo r b uild­
ings, roads and bridges.
“ News and Courier” contains the following :
W i n n s b o r o , Jan. 12.—T h e T o w n C ou n cil has ord ered a special e le ctio n fo r
F eb ru a ry 3 to co n sid e r th e p ro p o s itio n o f su rren d erin g t h e p resen t ch a rte r o f
W in n s b o r o , w ith a v ie w to h a vin g th e tow n In corp ora ted u n d er th e gen era l
law f o r th e in c o r p o ra tio n o f m un icip a lities.
T h e Im m ed iate ca u se f o r th is a ctio n Is th e fa c t th a t t b e p u rch a sers o f the
e le ctrlc-llg h t b on d s d o n o t w ish t o con su m m a te th e ir p u rch a se till a n o th e r
ch a rte r Is o b ta in ed , on th e g rou n d th a t th e p resen t ch arter ex p ires in se v e n
years. S hould th e v o t e be in fa v o r o f su rren d erin g t h e p resen t ch a rter f o r a
new o n e , th e n th ere w ou ld h a v e t o be a new e lection o f tow n officers and th e re
w o u ld b e tw o a d d ition a l a ld erm en .
In a sm u ch as th e new ch a rter insures s evera l a d va n ta ges o v e r th e p re se n t
o n e , It Is v e r y p rob a b le th a t th e v o t e will be d e cid e d ly in fa v o r o f th e new
ch arter.

For award of bonds see C h r o n ic l e Aug. 23, 1902.

Bond Calls and Redemptions.
Binghamton, N. Y.— Bond R ed em p tion .— The Water Board
recently paesed a resolution to pay off $50,000 of the $91,000

water bonds outstanding due in 1907. Bonds were held by
the Binghamton Savings Bank.
Cape Dirardean, Mo.— B ond Call.— Geo. E. Chappell, City
Clerk, calls for payment Feb. 15, at the National Bank of
Commerce, New York City, funding bonds Nos. 19 to 23 in­
clusive, and 25 to 29 inclusive, each for $500, dated March 1,
1890. Interest 5£.
Charlton Township, Howard Connty, Mo.— B on d C all.—

Andrew J. Furr, County Treasurer, calls for payment Feb­
ruary 1 at the National Bank of Commerce, New York City,
bonds Nos. 46 to 50, inclusive, each for $1,000, dated Feb. 1,
1889.
Dolan Township, Cass County, Mo.— B on d C a l l . - Q e o. A.
Dunn, County Clerk, calls for payment February 1, at the
First National Bank of New York City, bonds Nos. 38 to 47,
Inclusive, dated May 1, 1891, Denomination, $1,000. Inter­
est, 5#.
Hannibal, Mo.— B on d C a ll ,—Call i3 made for payment
March 1 of bonds Nos. 10 to 15, inclusive, issued in 1890. De­
nomination, $1,000.
Laclede Connty, Mo.— B o n d C all.— C. E. Windsor, County
Treasurer, calls for payment Feb. 1, 1903, bonds Nos. 49 to
55, inclusive, issued Dec. 1, 1897. Denomination, $1,000.
Payment will be made at the Union Trnst Co. of St. Louis.
Lathrop, Mo.— B ond C all .—This city called for payment
January 2 bonds Nos. 68 to 81, inclusive, issued July 1, 1893.
Malden, Mo.— Bond C all .—Interest ceased Jan. 2, 1903, on
H bonds Nos, 3 and 4 ($500 each), dated Jan. 2, 1897.
Mobile, Ala .— Bond Call .—On Jan. 12 the following bonds
were drawn for payment Feb. 1 at the First National Bank
of Mobile :

Cu llm an Co .—h . B. N o. 15, authorizing road bonds.
M o b il e —H. B. No. 88, authorizing refunding bonds.
B ills P assed b y H o u s e .
8 t . C l a ir Co .—H. B. No. 76, authorizing an election Feb. 23 to vote

on the question of Issuing bonds for road improvements.

Albany, N. Y.— Bond O ffering.—H ow ard N. Fuller, City
Comptroller, will sell at public auction at 12 M., February 6,
the following bonds : $35,000 8 ^ 1-20-year (serial) schoolconstruction, $29,000 33*jg 1-20-year (serial) grade-crossing,
$32,500 8$£<t 1-5-year (serial) improvement bonds and $83,000
1-10 year (serial) improvement bonds. Date of bonds,
Feb, 1, 1908. Interest, semi-annual.
Allentown, Pa.—B onds A u th orized .— The issuance of the
$164,700 3$££ water bonds mentioned in the C h ro nicle Nov.
22 has been authorized by the City Councils. Denomina­
tions, 107 of $100 and 308 of $500. Date, April 1, 1903. In­
terest, semi-annual. Maturity, 80 years, optional after 5
years.
B ond E lection.— On February 17 the question of issuing
$500,000 bonds for a sewerage system will be determined by
the voters of this city.
Ashtabula, Ohio.— B ond Sale.— The $15,000 4£ refunding
electric-light bonds offered but not sold on Dec. 13, 1902,
were awarded on Jar nary 22 to W. J. Hayes & Sons, Cleve­
land, at par and interest. See C h ro n ic le Nov. 29 for de­
scription of bonds.
Auglaize County (P . 0. Wapakoneta), Ohio.—B ond Offer­
in g .— Proposals will be received until 12 M., March 3. by W.
H. Meyer, Connty Auditor, for $10,000 5$ bridge bonds.
Authority, Sections 871 and 872, Revised Statutes of Ohio.
Date, March 2, 1903. Interest, March 1 and Sept. 1 at cffice
of County Treasurer. Maturity, $1,000 yearly on Sept. 1
from 1904 to 1913, inclueive. A deposit of $200 required
with bids.
Avalon, Pa.—B ond E lection . —At the spring eleotion Feb.
17 the question of issniDg $10,000 street-improvement, $5,000
sewer-improvement, $25,000 borough-hall and $15,000 street
and sewer fund bonds will be submitted to the voters of this
place.
Bartlesville. Ohio.— Bonds V oted.— At a special election
held January 19 $75,000 water works bonds were authorized
by 38 majority over the required two thiids vote.
Basin, YVyo.—B onds Voted.—We are advised that this
town on Dec. 15, 1902, voted to issue $12,C O 6* bonds to pur­
O
chase the system of water works now in operation and owned
by a piivate company. Denomination. $500. Interest an­
nually on January 1 at the Union Bank & Trust Co., Helena.

THE

282

CHRONICLE

M a tu r ity , 30 y e a r s ; o p tio n a l a fte r 10 y ea rs. I t is th e in te n ­
tio n o f th e to w n to sell th ese b o n d s, i f p o ssib le , at p riv a te
sa le , a n d fa ilin g to d o th is , to a d v e rtise th e se c u r itie s . T h e
assessed v a lu a tio n o f th e to w n is $ 7 5 ,0 0 0 , b u t th e re a l v a lu e
is sta te d to be th re e o r fo u r tim e s th is a m o u n t.
M r. D . L .
D a r r , C ash ier o f th e B ig H o r n C o u n ty B an k o f B a s in , is also
T rea su re r o f th e t o w n .
B a y o u C a r lin D r a in a g e D is t r i c t ( P . O . N e w I b e r i a ) , L a .
— Bonds Not Sold—
Bond Offering.—T h e $ 1 0,00 0 b on d s o f ­
fe red J a n u a ry 6 w ere n o t so ld .
P rop osa ls a re a g a in a sk ed
fo r , th is tim e u n til F e b r u a r y 1.
B o n d s ’ c a r r y 5% in te re st and
m a t u r e p a rt y e a r ly fo r 40 y ears.
B e l l a i r e , O h io .— Bond Offering.—Proposals w ill b e re­
c e iv e d u n til 12 M ,, F e b r u a r y 24, b y F . A . J a c k s o n , C ity
C le r k , fo r $50,00 0 4% w ater- w o r k s -re p a ir b o n d s. A u t h o r it y ,
S e c tio n 2837, R e v is e d S ta tu te s o f O h io .
D e n o m in a tio n ,
$500. D a te , F e b . 1, 1933.
In te re st s e m i-a n n u a lly a t th e
office o f th e C ity T rea su re r.
M a tu r ity , F e b . 1, 1923. A c ­
cru e d in te re st to be paid b y p u rch a se rs. E ith e r m o n e y o r a
certified c h e c k on so m e b an k in B e lla ire fo r $500 req u ire d .
B e r w y n , 111 .—Description o f Bonds.—T h e $ 1 2,00 0 4%1
e le c tr ic -lig h t b o n d s, w h ic h w e sta ted la st w e e k h ad been sold
to D u k e M . F a rso n & C o ., C h ic a g o , a t 10 2 '5 0 . are in d e n o m i­
n a tio n o f $500, d a te d D e c e m b e r 1 ,1 9 0 2
I ite re s t w ill be
p a y a b le J u n e 1 and D e c e m b e r 1. M a tu r ity , D ec, 1, 1922.
B I s h o p v i l l e (S. C .) Sehool District.—R o n d s Proposed.—
T h e issu an ce o f s c h o o l-b u ild in g b on d s is p ro v id e d fo r in a
b ill n o w b e fo r e th e L e g is la tu r e .
B r a t t l e b o r o n g b , V t .— Bond Site.—T h is t o w n r e c e n tly o f
fe red fo r lo ca l s u b scr ip tio n s a t par a n d in te re st a n issu e o f
$ 2 9,00 0 3£ b rid g e b on d s. T h e secu rities w e re o v e r -su b sc r ib e d .
D e n o m in a tio n , $500.
D a t e , A p r il 1, 1908. In te r e s t, s e m i­
a n n u a l.
M a tu r ity , A p r il 1, 1923; o p tio n a l a fte r A p r il 1 ,1 9 1 3 .
B r a y m e r (Mo.) School D i s t r i c t .— Bmds Not Yet Sold.—
W e are a d vised th a t th e $10,00 0 1% sch o o l b o n d s, b id s fo r
w h ic h w ill be e n te r ta in e d at a n y t im e b y J a m e s A . R a th b u n ,
S e c re ta ry B o a rd o f E d u c a tio n , h a v e n o t y e t been so ld . F o r
d e scrip tio n o f b on d s see V . 76, p. 58.
B r is t o w , I n d . T e r .— Bond Offering.— P r o p o sa ls w ill b e r e ­
ceiv ed u n til 7 p . M , F e b r u a r y 17 b y J o h n W . O v e rstre e t, C ity
A t to r n e y , fo r $ 8 ,0 0 0 6% sch oo l b o n d s. D a te , A p r il 1 ,1 9 0 3
In te r e st s e m i-a n n u a lly “ in a d v a n c e ” on A p r il 1 a n d O cto b e r
1 a t th e B o a tm e n ’s B a n k in S t L o u is .
M a tu r ity , 20 y e a rs.
Caledonia (Minn.) School District.— Bonds Voted.—T h is
d is tr ic t has v o te d to issu e $ 2 0,00 0 sch o o l b u ild in g b on d s.
C a m b r id g e , Ohio.— o n d Offering.— P rop osa ls w ill be re­
R
c e iv e d u n til 12 M ., M arch 2 , b y T . R . D e s e lm , C ity C le rk , fo r
$ 8 ,0 3 0 4% s tr e e t-im p r o v e m e n t b on d s. A u t h o r it y . S e c tio n s
2 8 3 5 ,2 8 3 6 a n d 2837, R e v is e d S ta tu te s o f •O h io . D e n o m in a ­
tio n , $5<i0. D a te , F e b . 1, 1903. In te r e s t, s e m i-a n n u a lly at
th e office o f C ity T re a su re r. M a tu r ity , F e b . 1, 1923.
Ac
c r u e d in te re st to be p aid by p u ch ase r.
Cando, N . Dak.—Bond Offering.—P rop osa ls w ill b e re
ceiv ed u n til F e b . 9 by H
D . S k in o e r , C ity A u d it o r , fo r
$ 9 ,0 0 0 5% 2 0 -y e a r w a te r -w o r k s bon d s. D e n o m in a tio n , $1 ,000 .
P u r c h a se r m u s t fu rn ish b la n k b o n d s.
Charlemont, Mass.—Bonds Proposed. — T h is t o w n d esires
L e g is la tu r e t o g r a n t a u th o r ity to issu e $ 7 ,5 0 9 4% 3 0 -y e a r
h ig h -s c h o o l-b u ild in g b o n d s.
Chester, Pa.—Bond Sale.— O n J a n u a ry 28 th e $ 8 5,00 0 3
b o n d s d e scrib ed in th e C h r o n i c l e J a n u a ry 24 w e re a w a rd e d
t o D ic k & R o b in s o n , N e w Y o r k , a t 100 6 9 5 — a b asis o f a b o u t
3 '4 5 8 £ .
F o llo w in g are th e b id s :
Dick A R obinson, New Y o r k _ 100-695 I W . J. H ayes & 8ons. C leveland. 100*851
_
N. W . H arris A Co., New York.,100'67 | Parkinson A Burr, B o s t o n ...... IOU‘083

Cincinnati, Ohio.— Bids. — F o llo w in g are th e b id s r e c e iv e d
J a n u a ry 23 fo r th e $ 1 ,0 0 0 ,0 0 0
w a te r -w o r k s b on d s a w a r d ­
e d , as sta ted la st w e e k , to th e A t la s N a tio n a l B a n k a n d th e
W e s t e r n G e r m a n B a n k o f C in c in n a ti :
A tla s Nat. Bank and W est.
Germ an B a n k ,C in cin — $1,015,6 0 00
R . K leyD olte A C o .,C in ... 1,"10.50000
F arson, L ea ch A Co., Chic. 1,010,328 85

I T hird Nat. Bank, C incin ...$1.010001
|U nion Sav. B'k & T r .'o ..C i n . 1.00J.500
I German Nat. Bank, C in c in ... 1,002,0.0
I

Colton School District, San Bernardino County, Cal.—

Bond Offering.— P ro p o sa ls w ill be re c e iv e d u n til 3

p m ., F e b .
13, by H . D . S ib le y , C o u n ty T r e a s u re r, fo r $ 3 ,0 0 0 5% b o n d s.
D e n o m in a tio n , $ 1 ,0 0 0 . D a te , J a n . 12, 1903,
In te r e s t, a n ­
n u a lly a t office o f C o u n ty T re a su re r.
M a tu r ity , $ 1 ,0 0 0 on
J a n . 12, 1914, a n d a lik e a m o u n t o n J a n . 12, 1915; $ 2 ,000
y e a r ly o n J a n . 12 fr o m 1916 to 1918, in c lu s iv e .
Day County (P. O. W e b s t e r ) , S. Dak.—Bond Offering.—
P r o p o sa ls w ill be r eceiv ed u n til 10 a . m ., M a rch 3, b y W i l ­
lia m E g e la n d , C o u n ty A u d it o r , fo r $5 0 ,0 0 0 5# 5 2 0 -y e a r (o p ­
t io n a l) c o u r t-h o u s e a n d ja i l b on d s. A u t h o r i t y , ele ctio n h eld
N o v . 4, 1902. D e n o m in a tio n , $500.
D a t e , M a r c h 3, 1903.
In te r e st, s e m i-a n n u a l.
C ertified c h e c k fo r 5% o f b id , p a y a ­
b le to th e C o u n ty T r e a su re r, re q u ire d .
Dayton, O h io .— Bond S a le .— T h is c it y h a s sold a t par
$ 1 2,00 0
s tr e e t-im p r o v e m e n t b o n d s, $ 5 ,0 0 0 t o th e c ity
sin k in g fu n d a n d $ 7 ,0 0 0 to th e T r u s te e s o f th e F ir e m e n ’s
R e lie f F u n d .
D e n o m in a tio n , $ 1 ,0 0 0 .
D a t e , F e b . 1, 1903.
I n te r e s t, s e m i-a n n u a lly in N e w Y o r k C ity .
M a tu r ity , F e b .
1, 1923.
Detroit, M ic h .—Bond Sale. - O a J a n u a r y 26 th e $ 5 0,00 0
8 ^ 3 0 -y ear w a fe r b on d s d a ted J a n . 1, 1903, w e re a w a r d e d
to th e P e o p le’s S a v in g s B an k o f D e tr o it at 108 7 5 —a basis o f
a b o u t 8 053£.
F o llo w in g a re th e b id s :

P e o p le 's Sav. Bank, D e tro it.,$64,375 00 I W . J. H aves A S on s, O leve.. $51,402 00
F inn X D u cbarm e, D etroit... 63.416 00 ! G eo. A . Fernald & Co., Bost. 51.190 oO
D e tro it T ru st Co.. D e tro it... 62,38* OJ I B. L. Day & Co., B o s to n ........ 51.16*50
Otis, W ilson & Co , C hicago . 62.257 70 ! H. Lee A nstey, New York. .. fio,695 to
N oble, Moss x Co., D e tr o it... 61.8‘5 00 I B enjam in Fisher, B o s t o n ___ 60,566 50
N. W. H arris x Co.. C h ica g o .. 51,631 00 T row bridge X N iver Co. Chic. 60,260 00
Denison, P rior & C o., C leve.. 51,265 t o |

F o r d e scrip tio n o f bonds see V . 76, p. 169.

[VOL. LXXVI,

Dougherty County ( P. O. Albany), (4a.—Bond Offering.—
Proposals will be received until 12 M., February 2, by R. P.
Hall, Clerk Commissioners Roads and Revenues, for $10,000
51 gold bonds. Authority, vote 489 to 15 at election held
December 22, 1902. Denomination, $1,000. Interest, semi­
annually in New York City. Maturity, $1,000 yearly for
eighteen years Jand $2,000 yearly thereafter, the last bond
maturirg in twenty-nine years. Bonds were validated on
January 5 by order of the Judge of the Superior Court of
Dougherty Co., as required by the provisions of an Act of the
State Legislature approved Dec. 6, 1897. Purchaser will be
required to furnish lithographed bonds. Certified check for
$500 required. Present debt of county, $25,000. Assessed
valuation, $4,000,000.
Da Boig, Clearfield County, Pa.— Bond E lection.—A t the
SpriDg election, February 17, the question of issuing $30,000
water bonds will be submitted to the voters,
Bonds to Be Issued.—W e are advised that this borough
will be offering $35,000 bonds for sale in the near future.
Dancan, Ind. Ter.—Bond Offering.—Proposals will be re­
ceived until 7:30 p. M., February 10, by Frank Fuqua, Mayor,
for $25,000 5% 20 40-year (optional) water works bonds. Date
of bonds not later than March 1, 1903, Interest semi­
annually at place designated by successful bidder. Accrued
interest to be paid by purchaser. Certified check on a
national bauk for $500, payable to the Town Treasurer, re­
quired. No conditional bids will be considered.
Dyersbnrg, Tenn.—Price Paid for Bonds —We are advised
that the First National Bank of Dyersbnrg paid par and in­
terest for the $50,000 41 20-year water bonds which we stated
last week had been sold to that institution. Bonds are dated
Nov. 15.1902, and were delivered to the bank on Jan. 15,1903.
Edgefield County, S. C.—Bond Election Proposed.—This
county seeks legislative authority to call an election to vote
on a proposition to issue bonds to pay past indebtedness and
other purposes.
Elyria, Ohio.—Bond Offering.—Proposals will be received
until 12 m , March 3, by W. H. Park, City Clerk, for $150,000
4% water bonds. Authority, Sections 2835 to 2837a , inclusive,
Revised Statutes of Ohio. Denomination, $1,000. Date,
Dec. 1, 1902 Interest semi-annually at the United States
Mortgage* Trust Co., New York City. Maturity, $10,000
yearly on December 1 from 1924 to 1938, inclusive. Accrued
interest to be paid by purchasers.
Fergus Falls, Mina.— Bond Sale.—On January 26 the $20,000 5% refunding bonds described in the C hronicle January
17 were awarded to N. W. Harris & Co., Cnicago, at 104'165.
Following are the bids :
N. W . H arris & Co.. C hicago $20,833 00 I W eil, R o th & Co., C in cin .......$20,380 00
M acD onald,M cCoy & Co ,Ohl 20,641 O I Stoddard, Nye A Co.. M in n .. 20,325 00
O
Farson. L each X Co., C h ic... . 20,602 00 I Chas. H. Coffin, C h ica go........ 20,30100
Thom pson, T enn ey A Craw
I M inneapolis L oan A T r. C o .. 20,280 00
fo ra Co.. C h ica go ...................20,552 O I S a Kean. C hicago.
O
. 20,260 00
R. K ley bolte & Co (fo r 4>* s). 20,601 00 Joh n N uveen & Co (fo r 4>^s). 20,136 00
T row bridge A N iver Co.. Chi. 20,411 00 1 New 1st Nat. Bank,Colnm hus. 20,000 00

Fort Dodge, Iowa.—Bond Offering — Proposals will be re­
ceived nntil 5 p . m , February 2, by D. A. Weller, City Clerk,
for $25,000 4% 10 20-year (optional) funding bonds. Interest,
semi-annual. Certified check for $500 required.
Galveston County, Tex.—Bonds Approved and Registered.
—The Attorney-General has approved and the State Comp­
troller has registered an additional $250,000 of the sea-wall
bonds proposed to be pnt out by this county.
Geary, Okla.—Bond E lection. —An election will be held
February 23 to vote on the question of issuing $52,000 bonds
for the erection and completion of a system of water works.
Bonds, If voted, will probably carry 6% interest, and the
maturity will most likely be fixed at 30 years, according to
our advices.
Grand Rapids, Wis.—Bond Sales.—1 his city has so’ d at
T
par to Thos. J. Bolger Co., Chicago, the following bonds :
$10,000 314? w ater b onds, dated M arch 2,1903. M aturity, $2,000 yearly on Jan­
uary 31 from 190* to 1912. inclusive.
16,000 3 k * bridge bonds, dated M arch 2, 1903. M aturity. $1,000 yearly on Jan­
uary 31 fro m 1913 to 1921, Inclusive, and $7,000 Jan. 31, ia22.

Grant City School District, Worth County, Mo.—Bonds
Voted - By a vote of 205 to 100 this district on January 22

authorized the issuance of $25,000 school bonds.
Greenville, Ohio.—Bond Sale.—On January 24 the $8,400
4% 1-15-year (serial) street-improvement bonds described in
the Chronicle Jan. 10 were awarded to the New First Na­
tional Bank of Columbus (the only bidder) at par.
Greenwood (S. C.) School District No. 18 —Bonds Pro­
p osed. —A bill now being considered in the Legislature au­
thorizes this district to issue bonds.
Hartford (Conu.), Second North School District.—Bonds
Proposed.—A resolution providing for $200,000 bonds was
recently introduced in the State Legislature.
Hartford (Conn.), South School District.—Bonds P ro­
posed. —This district seeks legislative authority to issue
$200,000 bonds.
Huntsville, Ala .—Favorable Vote on Bond Issue.—By a
vote of 303 to 209, the voters of this place on January 19 de­
cided to appeal to the State Legislature for authority to
issue $20,000 electric-light-plant bonds.
Idaho.—Bonds Proposed.—House bill No. 52 recently in­
troduced provides for the issuance of $30,000 bonds for the
construction of additional buildings and increasing the
equipment of the Academy of Idaho.
Idaho Falls (Idaho) Independent School District No. 1.
—Bond Offering —Proposals will be received unril February
14 by Adelia B. Scott, Clerk, at the office of A. V. Scott, for
$5,000 4%% 10-20-year (optional) additional school building
bonds. Dsnomination, $1,000, Date, April 1, 1903.

J anuary 31, 1903.J

THE

CHRONICLE

Indianapolis (Ind.) School District.—Bond Bill Pauses
Legislature.— The State Legislature has passed a bill provid
ing for tbe issuance of $150,000 bonds for new school houses.
Janesville, VVis.—Purchaser o f Bonds. — W e are advised
that the purchasers of the $25,000 4% city hall bonds, the
sale of which we recorded in the C h r o n ic l e Jan. 17, was
the Rock County National Bank of Janesville at par.
Bond Sale.— An issue of $10,930 street-assessment bonds
has been sold.
Kearny, N. J .—Bond Sale —This town o i January 14 sold
an issue of $90,000 4% refunding bonds to the New Jersey
Title Guaranty & Trust Co. of Jersey City at 100 50.
La Crosse, T I9.—Bond Offering.—Proposals will be re­
V
ceived until 2 p . m ., February 2, by Lemuel W. Gosnell, City
Clerk, for $20,000
10-20-year (optional) high-school
bonds. Securities are in denomination of $1,000. Date,
Jan. 1, 1903. Interest will be payable semi-annually at the
office of the City Treasurer.
Lakewood, Ohio.—Bonds Voted.—The election held Janu
ury 26 resulted in 162 votes being cast in favor of and 151
votes against the proposition to issue $75,000 school bonds.
Lancaster, Ohio.—Bonds A uthorized. —The City Council
on January 12 passed an ordinance providing for the issu
ance of $20,000 4% refunding city-hall bonds. Denomina­
tion, $1,000. Date, Feb. 1, 1903. Interest semi-annually at
the office of the City Treasurer. Maturity, $5,000 yearly on
February 1 from 1911 to 1914, inclusive.
Latrobe, Pa —Bond Election. —On February 17 the ques­
tion of issuing $17,500 funding bonds will be submitted to a
vote of the people. Bonds are for the purpose of erecting a
new municipal building and to retire $5,000 of floating debt.
Liberty, Mo.—Bonds D efeated.— The election held Jan. 20
resulted in the defeat of the proposition to issue $64,000
water-plant bonds.
Lincolu, Neb.—Bond E lection Proposed. —An ordinance is
before the City Council providing for an election April 7 to
vote on the question of issuing $14,500 sewer bonds.
Lorain, Ohio.—Bond S a le —We give below a list of the
bids received January 26 for the $8,000 5£ sewer bonds, the
highest of which was that of the State Savings Bank Co. of
Toledo :
S tale Sav. Bank Co. T o le d o ...18 048 CO I Feder, H olzm an * C o.,C ln
.18.016 00
K . K leybolte A Co.. C ln ctn ___ 8,028 00 | New 1st Nat. Bank, C olum bus. 8,001 00

For description of bonds see V. 76, p. 121.
McKee’s Rocks, Pa.—Bonds Not Sold.—In the C hronicle ,
Jan. 17, we stated that an issue of $35,000 current-expense
bonds was reported to have been sold to the Chartiers Trust
Co. of McKte’s Rocks. This report, we are advised, is in
correct. The bonds have not been sold, but will be offered
shortly. Interest, 4%. Maturity, 20 years.
Mallard, Iowa.—Bond Offering.— Proposals will be re
ceived until February 18 by A. C. Sands, Bond Commis­
sioner, for $4,500 b% 5-10-year (optional) water-works bonds.
Interest payable at the First National Bank of Chicago. Cer­
tified check for $200 required.
Meadville, Pa —Bond Election.— At the regular spring
election, February 17, a proposition to issue $35,000 water­
works improvement bonds will be voted upon.
Meridian, Miss.—M unicipal Ownership o f W a te r w o r k s .
—The New Orleans “ Times Democrat” has the following:
Me r id ia n . January 16.—A special e x e c u tiv e session o f th e City Council was
held last n igh t to con sider th e w ater works question. T h e c lt y h a d subm itted
a proposition to th e w ater works com pany, offering to purchase its plant tor
1 2 2 6 ,000 . T b e com pany was given until last night to a ccep t th e offer or sub­
m it a counter proposition. T h e ^manager o f th e w ater-w orks com pany refu sed
the proposition, and Is reported to h i v e said tbu t n ot on ly did the com pany
decline the offer o f $;:25.i 00, but it w ould n ot entertain an offer o f $275,boo fo r
tb e system . T h e Council last n sgh t unanim ously resolved to build a system ,
to be owned and operated by tbe city. It is stated th a t the city has tw o sites
In view , wu h abundant supplies o f water, and that steps will be taken at on ce
fo r tbe negotia tion ot *160,000 o f b ond s fo r th e con stru ction ot th e system .

Milwaukee, VVis.—Bonds A u th orized .—T he Mayor has
signed ordinances providing for $100,000 Twenty-seventh
Street viaduct and $40,000 park bonds.
Mississippi and LaFourche Drainage District (P. 0.
Donaldsonville), La.—Bond Offering.— Proposals will be re­
ceived until February 18 by Myer Lemann, President of the
District, for the $100,000 5% bonds voted at the election held
October 15, 1902. Denomination, $1,000. Date, March 15,
1903. Interest, annnal. Maturity, $5,000 yearly.
Montclair, N. J .—Bonds Proposed. —The Legislature has
before it a bill permitting this city to issue $75,000 firedepartment bonds.
Mount Airy,
—Proposals will be re­
I ceived until 12N. C.—Bond3, Offering.O. Hollingsworth, Sec
M., March
by Jas.
retary and Treasurer Board of Commissioners, for $50,000 b%
30-year gold water works, electric light and street-improve­
ment bonds. Authority, Chapter 216, Laws of 1901. Date,
April 1, 1903. Interest Jan. 1 and July 1 at place to be des
ignated by purchasers, Certified check for $1,000 required.
Monnt Ternon, N. Y.—Bond Sale,— On January 27 the
$36,000 4% 8-year school-tax-relief bonds described in the
C h ron icle Jan. 24 were awarded to O’Connor & Kahler,
New York, at 100*14 and interest.
Natchez, Miss.—Bond Sale. —It i3 stated that the $150,000
6$ 5 20-year (optional) water-works bonds mentioned in the
C h ron icle Dec. 20 have been sold to the Britton & Koontz
Bank and to tbe First Natchez Bank of Natchez, each insti*
tution taking $75,000 of the bonds.
New Jersey.— General Road and Paving Bond B ills. —A
bill before the Legislature authorizes cities of the first class
to issue $100,000 bonds annually for five years for paving
pnrpose8, while another permits towns to issue $100,000 stoneroad bonds.
i
Village Bonds fo r Street Im provem ents. —House Bill No.
36, recently introduced, empowers governing bodies of vil­

283

lages to issue street improvement bonds to run for a period
of five years, ana make assessments upon property benefited
by paving or guttering remain a lien until paid.
Oceanside School District, San Diego County, Cal.—
Bond Sale.— An issue of $1,500
1-5-year (serial) school
bonds has been sold to Alex H. Shipley of Carlsbad at 104.
Orange,. Texas —Bonds V o ted — This place has voted to
issue $22,000 school building bonds.
Oxnard Union High School District, Yentura County,
Cal.—Bond Offering — Proposals will be received until 2 p.
M ., February 5, by Geo. E. Farrand, County Clerk, for $20,000 5% gold bonds. Denomination, $2,000, Dite, Jan. 9,
1903. Interest, annually at the office of the County Treas­
urer. Maturity, $2,000 yearly on Jan. 9 from 1904 to 1918
inclusive. Either cash or a certified check, payable to the
Clerk of the Board of Supervisors, for 10£ of the amount
bid, required.
Patton, Cambria County, Pa.—Bond Offering.— Pro­
posals will be received until Feb. 6 by J. M Gilliece, Secre­
tary, for $7,000 4% 10 20 year (optional) municipal refunding
and improvement bonds, dated Nov. 15, 1902. Bonds are tax
free. Certified check for $100 required.
Pelham (N. Y.) Union Free School District No. 1.— Bond
O f fe r i n g — Proposals will be received until 7:30 p . m ., Feb. 9,
by the Brard of Education at the school house in North
Pelham for $18,000 registered school-house bonds. D-nom­
ination, $1,000. Date, Feb. 1, 1903. Interest, at a rate not
exoeeding 4% (rate to be named in bids), will be payable
semi-annually at the office of the D strict Treasurer. Ma­
turity, $l,CO0 yearly on Feb. 1 from 1904 to 1921, inclu­
sive. Cash or certified check for $500, payable to the Dis­
trict Treasurer, required. Bonds were voted at election held
Sept. 16, 1902. Present debt of district, $3,000, all of which
matures Aug. 1, 1903. Assessed valuation $2,768,297. Harry
A. Anderson (P. O. Box 34, Pelham) is District Clerk.
Pendleton, Ore.—Bonds N ot to B e Issued at O n ce.- We
are advised that it will probably be two or three months be­
fore the $30,000 b% 20-30-year (optional) gold sewer extension
bonds, voted Dec. 18, 1902, will be pat on the market.
Piatt County, 111.—Bond Sale.—On January 20 the $100,000 4% 1-10-year (serial) court-house and jail bonds described
in the Chronicle Jan. 3 were awarded to the First National
Bank of Monticello at 101*05 and interest. Following are
the bids:
First Nat. B ank, M o n tice llo .......10T06 | F. L . F uller A Co., C lev elan d___ 100 263
Otis, W ilson & Co.. C hicago. ...100*80
R. K ley b olte A C o.. C in cin n a ti..100-25
M acD onald, M cCovA C o..C hic. ..100’6-U I 4. A. K ean, C hicago.
100*06
M unicipal L oan C o........................100*68 F arson, L each A Co. (a n 3 blank
First Nat. Bank, D eland............. 100 553 I b o n d s )............................................. 100*00

Pittsburgh (Pa.), Beltzhoover Sab-District, Thirtyeighth Ward.—Bond E lection.—A t the spring election, Feb.
17, the question of issuing $75,000 school-building bonds will
be determined.
Pontiac, Mich,—B ids. —Following are the bids received
by this city recently for the $16,000 5£ 30-year water-mainextension bonds awarded, as stated last week, to the Oak­
land County Savings Bank of Pontiac at 107*166 :
Oakland Co. Savings B a n k ...$10,075 00 I First C om m ercial Bank..........^16,000 00
N ob le, M oss & Co., D e tro it... 16,050 00 I P o n tia c Savings B ank .......... 16,000 00

Interest, semi-annual.
Bonds to be Offered.—We are advised by the City Clerk
that this city will offer for sale in a month or two $50,000
street-improvement bonds.
Reading, Pa.—Bond Election.— At the election to beheld
February 17 the question of issuing $400,000 bonds will be
submitted to a vote of the people. Bonds are for the follow­
ing purposes: $85,000 for bridge over P. & R. RR. tracks;
$40,000 for storm-water sewer on Franklin Street; $35,000 for
intercepting sewer; $40,000 for refunding curbing claims,
and $200,000 for general paving purposes.
Rensselaer, N. Y.—Bonds P roposed. —A bill recently in­
troduced in the State Legislature provides for the issuance
of $200,000 50-year bonds at not more than 5^ interest for
various improvements, including a new. city hall, sewers,
paving streets, etc.
Rice Lake, Wis.— W a ter W orks to ’ Be P urchased.—The
Common Council on January 13 decided to purchase the
water-works plant of the Rice Lake Water Works Co. for
$25,767, the value put on the plant by a board of arbitration.
Riverside, Iowa.—Bond Sale.— This town has sold an
issue of $5,000 4%<f, gas-plant bonds to John F. Yonnkin of
Riverside at par. Denomination, $500. Date, Jan. 1, 1903.
Interest, semi-annual. Maturity, $500 yearly on Jan. 1,
from 1906 to 1915. inclusive.
Rochester, N. Y.—Tem porary Loan.— This city on Jan. 22
sold $385,000 city notes to C. S. Lunt.& Co. of Rochester at
4*10$. Following are the bids :
0. S. Lunt A Co., R o c h e s te r ........ 4-10*
D unscom b A Jennlson, N. Y........4*3754
M on roe Co. Sav. Bank ................. 4-44*
R o ch e ste r Sav. B an s, $146,000...4*50%

I R o ch e ste r Tr. A S afe Dep. Co .. 4*875)1
I G enesee V aliev Tr. Co.. H.00.000.5‘00*
i O’C onnor A K ahler, N ew Y o r k ..5*85$
|

Roxbnry Township School District, Morris County, N.
J.—Bond Offering.— Proposals will be received until 2 p. M.,
February 21, at the school-house in Succasunna, for $10,009
4% 1- 10-year (serial) school-house bonds bearing date April
1, 1903.
Sandstone, Minn.—Bond Sale.—This town has sold to the
State of Minnesota $8,000 4% 4 11-year (serial) refunding
bonds.
Sharon'School District, Mercer County, Pa.—Bond E lec­
tion. —At the regular spring election in February the ques­
tion of issuing $89,000 school bonds will be submitted to a
vote of the people.

284

THE

CHRONICLE

Shrewsbury, Mass.—Bonds Proposed.— A bill recently in­
troduced in the State Legislature provides for the issuance
of $10,000 5$ 30 year water bonds,
South St. Paul, Minn.—Bonds Proposed. —This place seeks
authority from the.State Legislature to issue $10,000 waterfund certificates.
Spartanburg, S. C.—Bill Validating Bonds. —A «bill now
before the State Legislature validates all the acts of this
city in relation to the issuance of street-improvement bonds.
Springfield, Mass.—Bonds A u th orized .— The $125,('00
g old public-park bonds mentioned in the C h r o n ic le Dec. 13
w ill not be issued, we are advised, for about three months,
as under the law the money must be “ actually expended”
before bonds can be put out. Denomination, $1,000. Date,
Jan, 1, 1903. Maturity, Jan. 1, 1923.
Bonds Proposed. —An ordinance is before the City Council
providing for the issuance of $200,000
1-5-year (serial)
refunding water bonds, to be dated April 1, 1903.
Springfield, Ohio.—Bonds A u thorized.— The City Council
has authorized the issuance of $25,000 city-prison bonds.
Springrille, Mich.—Bond Election. —An election will be
held in this place in the near future to vote on the question
of issuing bonds for an electric-light plant.
Stamford, Texas.—Bonds A pproved. —The Attorney-Gen­
eral on January 8 approved tne issuance of $4,000 city-hall
and $2,000 street-improvement bonds.
Stoddard County (P. O. Bloomfield), Mo.—Bonds to Be
Taken by C ontractor. —We are advised that the $71,670 28 6$
R. A. Sisler et al. drainage system (Drainage District No. 2)
bonds, offered but not sold on Dec. 2, 1902, will not again be
offered on the market, but will be taken by the contractor in
payment for his work.
Summerville, 6a.—Bond Election Ordered.— The Board of
Commissioners on January 15 authorized an election Febru­
ary 25, to vote on the question of issuing the $25,000 5# gold
water and sewer bonds mentioned in the Ch r o n ic l e on Jan.
24. If authorized, the denomination of bonds will be $1,000.
Interest, semi-annually at office of City Treasurer. Matur­
ity, 80 years.
Terre Haute, Ind .—Bond Sale.—This city has sold
$7,754 75 6$ Cherry Street improvement bonds to the United
States Trust Co. of Terre Haute at par.

[V ol. LXXVI.

Thompson (Town), Sullivan County, N. T. —Bonds N ot
refunding
bonds offered but not sold on Nov. 15, 1902, have not yet
been disposed of. Charles S. Thornton is Town Super­
visor.
Toledo, Ohio.—Bond Offering.— Proposals will be received
until 7:30 p . m ,, February 27, by J. H. Wylie, City Auditor,
for $121,000
street-improvement bonds. Authority, Sec­
tion 2835, Revised Statutes of Ohio. Denomination, $1,000.
Date, Oct. 1, 1902. Interest semi-annually at the Importers’
& Traders’ National Bank, New York City. Maturity, Oct. 1,
1922. Certified check, “ drawn without condition as to pay­
ment,'5for 10$ of the par value of the bonds, required. These
securities are part of the issue of $125,000 bonds offered but
not sold on Dec. 9, 1902. As stated last week, $4,000 of the
bonds was recently taken by the Union Savings Bank at
par, leaving outstanding the $121,000 now offered for sale.
Topeka, Kan.—Bond E lection .—The School Board has de­
cided to ask the Mayor to call an election to vote on the
question of issuing $131,500 bonds for the erection of various
school buildings.
Trenton, Tenn.—Bond Election.— An election will be held
in this place to vote on the question of issuing $6,000 6£ 20year bonds for the purchase of the electric plant now owned
by Wade & Keenan.
Warren, Ohio.—Bonds A uthorized.— The City Council on
January 16 passed an ordinance providing for the issuance
of $4,500 4% West South Street improvement bonds. Denom­
ination, $500. Date, March 1, 1903. Interest semi-annually
at the office of the City Treasurer. Maturity. $500 March 1,
1904, and $1,000 yearly on March 1 from 1905 to 1908, inclu­
sive.
Washington, Iowa.—D escription o f Bonds.—The $12,000
4% electric light bonds which we stated last week had been
sold to Geo. M. Bechtel & Co. of Davenport are part of an
issue of $15,000 bonds authorized by ordinance passed by
the City Council on July 21, 1902. Denominations, fifty of
$100 and twenty of $500 each. Date, Aug. 1, 1902. Interest
semi annually on April 15 and August 15. Maturity, yearly
on April 15 as follows : $500 each year from 1904 to 1907, in­
clusive; $700 from 1908 to 1912, inclusive, $500 in 1913, $1,000
each year from 1914 to 1922, inclusive.
Yet Sold. — We are advised that the $231,000

NEW LOANS.

NEW LOANS.

$ 150,000

$ 5 0 ,0 0 0

Cascade County, Montana,

Shreveport Gas, Electric Light &
Power Company
(SHREVEPORT, LA.)

5 % C O LD M O R TG A G E BONDS.
Due October 1, 1922. Total issue, $285,000.
This Company controls all the gas and electric business in Shreveport,
has been in successful operation fcr thirteen years, and its net earnings exceed
2% times the total interest charges.
Circular on application.

THOMPSON.

TENNEY

&

CRAWFORD

217 La Salle Street, Chicago, ill.

BONDS
SUI TABLE FOR

8avings Banks,
Trust Companies,
Trust Funds,
Individuals.

FARS0N LEACH & 00.
Public Securities,
C H IC A G O .

NEW Y O R K .

BOSTON.

P H IL A D E LP H IA .

Rudolph Kleybolte & Co.,
1 N A S S A U S T .. N E W Y O R K C I T Y

V ICK ERS

Sc

PHELPS,

15 Wall Street

New York.

IN V E STM E N T B R O K E R S ,
H I0 H J S 8 T

GRADS

R A IL R O A D

BONDS,

N otice is hereby g iv e n that in pursuance o f pro­
vision s o f A rtic le 4, T itle 1, P art 4, o f the P olitical
Code o f th e State o f M ontana, and o f an ord er duly
m ade by th e B oard o f C ounty C om m issioners o f
Cascade C ounty, State o f M ontana, at a m eeting o f
said B oard held on th e eigh teen th day o f Decem ber,
1902, th e said B oard o f C ounty C om m issioners o f
Cascade C ounty, will, o n th e 10TH D A Y OF FEB­
R U A R Y , 19i-3. A T T E N O ’CLOCK A , M. o f said
dav, at th e C ounty T rea su rer’s Office In th e County
Court H ouse, In th e City o f G reat Falls, Cascade
C ounty, M ontana, under and by virtue o f such
p ow er con ferred upon them by Inw, and by virtue of
the order a foresaid , authorized by a m ajority o f the
electors o f Cascade C ounty at the General Election
held N ovem b er 4th lut'2. sell cou p on bonds o f Cas­
ca d e C ounty. State o f M ontana, to th e am ount of
F ilty Thousand D ollars, drawing interest at the rate
o f fo u r per centum per annum, payable semi annually
on the 1st day o f January aud the 1st day o f July of
each year, w hich bonds will be o f the denom ination
o f One T housand Dollars each, and shall be redeem­
able and payable Tw en ty years from the date o f their
issue. T he said cou pon bonds will be m ade payable
at any N ational Bank designated by th e purchaser,
and th e C ounty will d eliver said bonds at such bank
to th e ord er o f such Durchaser, T h e in terest on said
b ond s will be payable at the Office o f the County
T reasurer o f said Cascade CouDty.
Sealed proposals f c r th e purchase o f said bond*
will be receiv ed up to th e tim e o f sale, and the party
o r parties offering th e highest bid th e re fo re will
receiv e the am ou nt o f such b o n d s as h e o r th ey may
offer to buy. A N ew Y ork d ra ft or ch eck certified
by a G reat Falls Bank, payable to the ord er o f the
C ounty T reasurer o f Cascade C ounty, to th e amount
o f Tw enty-five H u n dred Dollars, will be deposited
with th e C ounty T reasurer by each bidder as a guar­
a n ty o f go o d faith.
Said Board o f C ounty C om m issioners reserves the
right to re je ct any and all bids.
B ids should be m arked “ Bids on B on d s,” 'and ad­
dressed to F r e d .L . H ill, C ounty Clerk, G reat Falls.
Cascade C ounty, M ontana.
By order o f the Board o f C ounty C om m issioners of
C ascade C ounty, M ontana,
V IN C E N T F O R T U N E , C ounty Clerk.

CO..

Municipal and Corporation Bonds,
H. C. BARROLL, Manager.

COUPON BONDS.

Blodget, Merritt & Co.,
B A N K E R S,

16 Congress Street, Boston.
36 NASSAU ST RE E T , NEW Y O R K .

STATE, CITY & RAILROAD BONDS.

T. B. POTTER,
MUNICIPAL and
CO R PO R A T IO N BONDS,
172 Washington Street,
C H IC A G O ,
•
ILLS.
LIST

ON

APPLICATIO N .

IOWA AND MINNESOTA
351 M U N I C I P A L r B O N D S ,
C orrespondence Invited.

H A R R Y

B. POW ELL

A

W o o d s t o c k , V erm ont.

CO.

THE

J a n u a r y 31, 1903.]

CHRONICLE

Weatherford, Texas.—Purchase o f W ater Plant Proposed.
—The City Council has made a proposition to the com pany
operating the water and light plants to purchase the same
for $43,000.
Whatcom (Wash.) School District.—Bonds Voted.—Toe
election held January 17 resulted in favor o f issuing $65,000
school-building bonds by a vote o f 541 to 285. Mrs. E, V.
Lilley is Clerk Board o f Education.
Wilkes-Barre Township (P a.) School District.—Bond
Offering.— Proposals w ill be received until February 5 by
John J. O’Donnell, Solicitor o f the District, R oom 26, Simon
Long Building, Wilkes-Barre, fo r $8,000 5g bonds. Denom ­
ination, $500. Interest semi-annually, free from State taxM aturity, $500 yearly on January 1 from 1904 to 1919, in­
clusive.
Williamsport (P a.) School District.—B ond Issue P ost­
poned.—W e are advised that this district has been con sid er­
ing the question o f issuing $27,000 bonds, but that the
matter has been postponed for the present.
Wilmont, Minn.—Bond Sale.—On January 23 the $8,000
20-year water bonds described in the C hronicle January
10 were awarded to S. A . Kean o f Chicago at par.
Winona, M in n .-R id s.—F ollow ing are the bids received
January 19 for the $40,000 4g electric-light bonds described
n the C hronicle Decem ber 20 :
*. L. Fuller A Co.. Cleve ...$40,417 75 I S. A. Kean. Chicago............. $40,120 00
*
'’arson, Leach A Co., Chic.... 40,818 60 |N. W. Harris A Co., Chicago. 40,108 00

As stated last week, bonds were awarded to the Cleveland
Irm.
Takima County (Wash.) School District No. G3.—Bond
Offering.—Proposals w ill be received until 11 A, m . to day
Jan. 31) by E. G. Peck, County Treasurer, fo r $20,000 10
10-year (optional) bonds. Interest must not exceed 10 per
:ent.
Yonkers, N. Y.—Bond Sale.—On January 26 the $150,000
% 3-year redemption bonds were awarded to the Yonkers
Javings Bank at 101’67—a basis o f about 3 '4 4 ^ . On the
ame day $45,400 4% 1-year assessment bonds were awarded
,o O’Connor & K abler o f New York City at 100*09 and $15,000
% 2-year assessment bonds to the same firm at 100*29—the
ast tw o bids being on a basis o f about 3*91£ and 3*847£,
espectively. F ollow in g are the bids received :

285

$150,000 R e d e m p ­
$60,400 A tttla­
tio n B onds.
ment Bonds.
Yo nk ers S avings B an k............................................. 10i'57
O’ Connor A K ahler, N ew Y ork............................... 100'59 .. j **6,400............
P e o p le ’s Savings B an k.............................................. 10150
’
.........
G eo. M. H ahn, New Y ork........................................ 100"49
.........
F. L. F uller A Co.. C levelan d......................... . . . . 100*48
100*11
Parson, L ea ch A C o.,N ew Y ork................... . . . . l'O 'IO
.........
J ohn I). Kveritt A Co., New Y o rk .......................... 100*23
100-03
M. A . Stein A Co., New Y o r k .................................. 100 052
100*062
" A l l o r N on e” R ids.
Farson, L ea ch A Co., N ew York.lOo SO | A llen , Sand A Co., New Y o rk . .100-29

F or description o f bonds see V. 76, p. 228.
Y onkers (N . Y .) S ch ool D istrict.— Bond Sale.—On Jannary 23 the Yonkers Savings Bank was awarded the $5,000
bond described in the C hronicle January 17, the price
paid being 100*24 and interest. F ollow in g are the bids :
Y on kers Savings B ank ...............100*24 I 8. A. K ea n , C h ica go ....................100*06
G eo. M. H ahn, New York............ 100*13 |

Y oungstow n, O hio.—Bond Offering.— Proposals w ill be re­
ceived until 2 p. M., Feb. 23, by W m . I. Davies, City Clerk,
for $2,300 5£ M cG uffey Street grading No. 3 bonds, maturing
one bond ot $460 yearly on October 1 from 1904 to 1903, in­
clusive. Date, March 2, 1903. Interest w ill be payable sem i­
annually at the office o f the City Treasurer. Purchasers
must be prepared to take the bonds not later than March 2,
the money to be delivered at one o f the city banks or at the
office o f the City Treasurer. A certified check for 2% of the
amount of bonds bid fo r must accom pany propoeal3.
Bond Sales.—The follow in g bids were received January 26
for the three issues o f 5% sewer bonds described in theCHRORicle January 8 :
F irem en's P ension Fund, Y o u n g sto w n . $1,081 00
Joh n R. D avis’s Sons, Y ou n gstow n ........ 1,078 00
P . 8 . Briggs A Co., C in cinnati................... 1,078 65
New First N ational Bank, C olu m bus___ 1,065 00

IN V E S T M E N T S .

IN V E S T M E N T S .
M U N IC IP A L

Evansville, Indiana.

Sc E le c t r ic C o. 5s.
Springfield, Mo.
lla g a ra L ig h t , H e a t Sc P o w e r C o. 5s.
T onaw anda and N orth Tonaw anda, N. r .
C itiz e n s ’ H e a t Sc L ig h t C o. 5s.
K lw ood, Indiana.
B urlington, Iowa.

BA NK ERS

Public Service Corporation

Indianapolis, Ind.

BONDS.

VIASON L E W I S A CO.,

W E OWN AND OFFER

E. H. R O L L IN S & S O N S ,
BOSTON.

B oston. 60 D evonshire Street.
P hiladelphia, 505 C hestnut Street.
Chicago, M on adn ock B uilding.

^has. S. Kidder & Co.,
BONDS,
184

LA

SALLE

Denver.

LA

D E A L E R S IN

NYESTMENT and MISCELLANEOUS
SECURITIES.
Southern S e c u r itie s a S p e c ia lty .

8ALLE

8END

GRAND

PROC

LI8T.

W A S A W A R D I D A T T H J P A R I S « X P O S IT IO N TO

BQ8TON.

W H ITIN G’S

On Improved Farms
N e t t in g t h e I n v e s t o r 6 p e r c e n t I n t e r e s t .
Send fo r booklet and latest 0 fer in e .

H O L Y O K E . M A S S .,

W IC H IT A , KANSAS

M ention this paper.

and

BONDS.

VAULTS.

121 Devonshire Street,
BOSTON.

). F. RICHARDSON,

Nevr Y ork.

BANK

Y ork.

BANKERS,

La Salle Street, Chicago.

LO ANS.

150 D u a n e S t r e e t , N e w

SECURE

E. C. S T A N W O O D & Co.,

Bankers’ and Brokers'

PAPERS.

W H IT IN G P A P E R C O M P A N Y ,

W I N N E & W IN N E ,
M U N IC IP A L

STAN D AR D

T hey are th e on ly A m erican papers w hich have
ever receiv ed th is—th e highest h o n o r that oan be
con ferred . It m eans th e y are th e m oat p erfect
made. Insist on having them fo r y o u r fine co r re s ­
pondence and you r office station ery. A re yon using
w h itin g ’s L e d ge r Papers In y o u r B la n k -B ooks
Aamples and book let fre e .

C H O IC E O K L A H O M A
F IR S T M O R T G A G ES

AND CORPORA T/OM

BO N D S.

I

FOR

CLE VELA ND.

W tn ne B uild ing.

.

THE

STREET,

D E N IS O N , P R I O R & CO.

MacDonald, McCoy & Co.,

-

W r i t e o r apply for p a r tic u la rs .

B onds,

INVESTMENT BONDS.

BANKERS,
NO. 10 W A L L S T R E E T ,
NEW YO R K .

rexel B u ild in g ,

General Mortgage 5% Bonds.
Price to net

C H IC A G O .

STR EET,

C A. Lancaster & Sons,

171

Indianapolis Water Co.

San Francisco.

M u n ic ip a l

CH ICAG O

UHICIPAL

8 2 5 , 0 0 0

F. R. FU LTO N & CO.,
171

$98569
98600
96660
85000

J. F. W ILD & CO.

Write for Special Circular.

BAN K ERS.

$1,681 00
1.627 C
O
1.628 00
1.607 60

___IN V E S T M E N T S .

AND

B u r lin g t o n U a th v a j- A L ig h t Co. os.

$S50

Del->son A vo.
Oak Hill
Ronds
A ve. Bonds.

Feder, H olzm an & Co., Cincinnati, offered $3,700 for all
three issues. T he Hughes Street sewer and the Delason A ve­
nue sewer bonds w ere awarded to the Firem en’s Pension
Fund o f Y oungstow n and the Oak H ill A venue sewer bonds
to John R . Davis’s Sons, also o f Y oungstow n.
Bonds R e a v a rd ed .—The $25,000 5%sidewalk bonds awarded
on Dac. 22, 1902, to Danison, Prior & Co., Cleveland, for
$25,527 50 and interest have been re-awarded by the City
Council to C. P. W ilson o f Y oungstow n at the same price.

E van sville G as A E le c t r ic L ig h t C o. 5s.
S p r in g fie ld G as

$1,600

$1,060
H uoh es St.
B on d s

GENUINE

The cheapest that a re g o o d ; the best at the p rice.

R

D

A

T

D

JL> V j ± \ U

Q

a n d

s t o c k

CERTIFICATES

partly lithographed and p a r tl y printed ; finished in a few
days| handsome designs; iuu»t be seen to be
appreciated. Send fo r sanipl«>s.
A l b e r t i ?. k i n g & C o .,
Engravers and Lithographer*.
(Telephone C onnection.)
105 Uilliani St., Sew Y ork.

!

WELDED CHROME STEEL ANDIRON
S ou n d and Flat. Bars and 5 -P ly Plates and A n g le
F O R SAFE S. V A U L T S . Ac.
C annot be Sawed, Cut or D rilled, and p ositively
Burglar P ro o f.

CH RO M E STEEL W O R K S ,
K ent A v e ., R eap and H o o p e r S ts„

Sale Man-Pert in the U .5.

B R O O K L Y N . N. T

THE CHRONICLE.

286

[V ol. LXXVI,

gm tst ©umpantes.

FID ELITY TR U ST
COMPANY,
NEW ARK,

N.

J.

PAYS
ON

C EN TR A L
IN T E R E S T T R U S T CO M PANY
OF ILLINOIS,

3%

D A IL Y

BALANCES,

SUBJECT

TO

CHECK P A Y A B L E IN N E W YO BK FUNDS.

Capital,

CH ICAG O .

$ 1 ,5 0 0 ,0 0 0 0 0 .
Surplus and Undivided Profits,

Morristown T rust Co.t
MORRISTOWN, N. J.

$ 3 ,4 9 2 ,5 4 9 2 0 .
O F F IC E R S :
U Z A L H . M c C A R T E R .................... P resid en t
J O H N F . D R Y D E N ,..............V lce-P reeld en t
T h o m a s n . M cC a r t e r ,
2d V ice-P rea . Sc G en , C ounsel,
J E R O M E T A Y L O R ,...................T r u s t Officer
F R E D E R I C K W . E G N E R , Sec. and T r e a s .
JAM ES H , SH AC K LETO N ,
A s s t, Sec, Sc A s s t, T r e a s .
D IR E C T O R S :
J erom e T a y lo r ,
John F , D ryden,
W m . N. C oler J r .
J a s . W . A le x a n d e r ,
W illia m H . S ta a k e ,
J am es H . H yde,
F o r r e s t F . D ryden,
L e slie D , W a r d ,
H e n ry S . Redm ond,
T h o s , N. M c C a rte r ,
C h a rle s A , F elck ,
E dgar B. W a r d .
B ern a rd S tr a u s s ,
W illia m S ch eerer,
John C. E lse le .
S . B. J aokoon,
W in . H . M cIn tyre.
U za l H , M cC a rter,
Anthony R . K u s e r ,
H . R . W lm h r o p ,
R o b e rt II. M cC arter, O tto H . K a h n ,
H e n ry M . D orem us,
M a r k T . Cox,
Jacob I W a r d .

SAMUEL F R E E M A N , P r esiden t .

Capital,

.

.

.

Surplus and Profits,

.

$600,000
•

BO W LIN G G R E E N
T R U S T CO.,
26 B R O A D W A Y

Capital, $2,500,000 Surplus,$2,500,000

E x e c u t i v e O f f ic e s :

C O N T IN E N T A L T R U S T B U I L D I N G ,

BALTIMORE, MD.
Finances, Builds, Purchases E lectric Railw ays,
E lectric L igh tin g Properties, W aterw orks, Ice
Plants, etc. E xam in ations m ade and reports fu r­
n ish ed on all classes o f industrial properties.

Correspondence Solicited.

The

Investment Company
of Philadelphia,

North American Bldg., Philadelphia.
Capital Stock,
•
•
$2,060,000
Surplus & Undivid. Profits, $1,000,000
T h is Com pany undertakes th e n egotiation and
Issue o f loans and capital o f C om panies on th e New
Y ork or P h iladelphia M arket, and w ill m ake advan­
ces upon approved Corporate, P ersonal or Real
Estate security.
U nder Its charter rights it w ill act as Trustee,
A gen t or M anager fo r th e con trol o f corporation s or
fo r th e con stru ction o f public or private works.

1850.

1903.

The United States Life
Insurance Co.
IN

TH E

C IT Y

OF

H EW

YORK.

John P. Munn, M.D., President.
F IN A N C E C O M M IT T E E :
Q s o . G. W IL L IA M S, Pres. Ohem. Nat. Bank
J a m e s R. P l u m ,
Leather
C l a r e n c e H. K e l s e y , Pr. Tit. Guar. &Tr. Co.
Active and successful Agents who desire
U make D IR E C T CONTRACTS with this
well-established and progressive Company,
thereby securing for themselves not only an
immediate return for their work, but also
an increasing annual income commensur­
ate with their success, are invited to com­
municate with M I C H A U D E. COCHRAN,
Third Vice-President, at the Company9s
Q§iee, 977 Broadway, New York City .
A s s e ts , o v e r 8 8 .6 0 0 ,0 0 0 .
I n s u r a n c e In F o r c e o v e r 8 4 5 * 0 0 0 * 0 0 0 .

Unlisted Stocks and Bonds.
A ls o Old D efa u lted R R . B en d s.

D A V ID P F E I F F E R . 18 W a ll 8t

W I L L I A M H . T A Y L O R .. ..1 s t V lc e -P r e s .
J O H N A . H I L T O N , 3d V fc e -P re s. & T reas*
W I L L I A M M . L A W S .....................S e cre ta ry
DIRECTORS:
M yron T. H errick,
Charles P. A rm strong,
R ob ert H ock ey ,
G eo. R . Bldwell,
Edward R. Ladew,
Frank Brainard,
W illiam M. Laws,
R ob ert C. Clowry,
J. W . M iddendorf,
Edm und C. Converse,
W inslow S. Pierce,
W m . N elson Cromwell,
Edw ard D. Street,
G renville M. Dodge,
W illiam H. Taylor,
Edwin G ould,
Edw ard R. Thom as,
Frank Jay G ould,
Joh n P. Truesdell,
G eorge J. G ould,
Joh n Skelton W illiam s,
Joh n A . H ilton ,
.
E. F. J Y oung.

TheTrustCo.of America

-

-

-

#4,000,©0#
1,000,000

C H A R L E S G. D A W E S . President.
W . IR V IN G O SBO RN E, V ice-P resident.
A . U H R L A U B , V ice-P resid en t.
L A W R E N C E O. M U R R A Y , Sec’y & Trust Office?
W IL L IA M R. D A W E S , Cashier.
C H A R L E S T. W E G N E R , Asst. Cashier
M ALCO LM M cD O W E L L , Asst. Secretary.
M A X P A M , General Counsel.

D IR E C T O R S :
F R A N K O. LO W D B N
A . J. E A R L IN G ,
H A R R Y RU BENS,
M A X PAM ,
G R A E M E STE W A R T,
C H A 8. T. BOYNTON,
TH O M A S R. LYON .
C H A R L E S D EER IN G ,
A LE X. H . REVELL.
P. A . V A L E N T IN E ,
C H A R L E S G. D A W E S .

B A N K IN G ,

N EW YORK.

J. W m . M id den dorf, Pres. A . H . R u th erfoord,T reas.
O F F IC E R S :
R. L. W illiam s,V ice-Pres. H .P .P a ge, 8ec.A A u ditor.
E D W I N G O U L D .................................. President
E. C. H athaw ay, G eneral M anager.

Railways and Light Co.
of America,

•

1,541,197
4,766,466

Deposits,

Capital,
Surplus,

S A V IN G S AND
DEPARTM ENTS.

TRUST

Maryland Trust Co.,
N* W . Corner C a lv e r t and G erm an S tr e e t*
B A L T IM O R E .

C A P IT A L , - • $2,125,000.
S U R P L U S ,- - $2,437,500.
I

1 Legal Depository for Court and Trust Funds.
S A F E D E PO SIT BO X E S F O R RENT.
A ct* as Financial A g en t fo r States, Cities. Towns,
Railroads and oth er Corporations. Transacts a gonsral trust business.
Lends m oney on approves
lecurity. A llow s interest on special deposit*. A«ts
Trustee under M ortgages, Assignm ents and Dee Of
of Trust, as A gen t fo r the Transfer or Registration
of Stocks and Bonds, and fo r the paym ent of coupon*,
interest and dividends.
J. W IL L C O X BR O W N , President.
H E N R Y J. BO W D OIN , 1st V ice-P resid ent.
L L O Y D L. JACKSON, 2d V ice-President.
J. B E R N A R D SCOTT, Secy. A Treas.
W m . A . Marburg,
H . J. Bow doin,
L eopold Strouse,
H enry W alters,
W . B. Brooks Jr.,
L loyd L. Jackson.
H . A . Parr,
Clayton C. Hall,

D IR E C 1 0 R 8 :
J .W illcox Brown.
B. N. Baker,
Fred’k W . W ood,
Andrew D.Jones,
Joshua Levering,
Jam es Bond,
G. A. von Lingen.

J. A . Tompkins.
S. Mandelbaum,
John Pleasants,
J. L. Blackwell,
Geo. C. Jenkins,
Joh n S. Wilson
J. S. Lemmon,
L F. Loree.

149 B R O A D W A Y ,
(N orth w est C orner L ib e r ty St.)
C a p ita l
■
■
»
•
• 8 2 ,5 0 0 ,0 0 0 0 0
Surplu s Sc Undivided Profits* 3 ,1 5 0 ,0 2 8 5 2
Allows Interest on Daily Balances,
su bject to ch eck through th e New York Clearing­
h ouse or payable at sight, and on C ertificates o f
D eposit.
_
A cts as T rustee, R eceiver, Com m ittee, E xecu tor,
Guardian, A dm inistrator, A ssign ee, Registrar,
T ran sfer and Fiscal A gen t.

OFFICERS:
Ashbel P. Fitch, Pres. W m . Barbour, V.-Pres.
W m . H . Leupp, V .-P .
H . S. Manning, V .-P .
E . J. Cbatry, Sec’ y.
A. L. Banister, Treas.
A shbel P. Fitch,
W m . Barbour.
H . 8. Manning,
Sami. A. Maxwell.
M yronT. Herrick,
Em ers. McMillin.
Jas. M. Donald,
Jesse Spalding,

D IREC TO R S:
G eorge Crocker, ,C. I. H udson,
Edw.C. Schaefer Philip Lehm an,
G eo.B lum enthal,
S. C. T. Dodd,
Joel F. Freeman, Frank Jay G ould,
Anson It Flower, W m A Clark,
H. S. R edm ond, Joh n W . Griggs,
Jn o.K . H eeem an Edwin G ould,
George C. Boldt,

/

^

‘ E" a o \

T R U S T CO.

^

Deposits, $33,388,983 37
No. 6 6 B R O A D W A Y ,
N o. 2 3 4 F I F T H A V E N U E .
No. 1 0 0 W E S T 1 2 5 T H S T R E E T .
C H A R L E S T. B A R N E Y , P resident.
F R E D ’ K L. E L D R ID G E , 1st V ice-P resid en t.
JO SE PH T. B R O W N ,2d V ice-P resid en t.
JU L IA N M. G E R A R D ,3d Vice-President.
F R E D E R IC K G. K IN G , Sec. and Treas.
J. M cL E A N W A L T O N , A sst. Secretary.
•
H A R R IS A . DUNN, Asst. Treasurer

TR U ST DEPARTM ENT.

The Merchants’
Loan & Trust Company,
Chicago.
C A P IT A L

AND

SURPLU S,

8 3 ,8 0 0 ,0 0 0

GENERAL BANKING.
Accounts of Banks, Merchants, Corporations
and Individuals solicited on favorable
terms.
Trusts of all kinds
accepted and executed.
Foreign Exchange.
Savings Department.

H igh Grade Bonds.
Safe Deposit Vaults.

D IR E C T O R S:
Marshall Field.
C. H . M cCorm ick, A . H . Burley,
A lb ert K eep,
Lam bert Tree,
E. II. Gary,
Elias T. W atkins, E. M. Phelps,
E. D. H ulbert,
M. J. W en tw orth Enos M. Barton
O ieon Smith.

W IL L IA M B. R A N D A L L , T rust Officer.

H ARLEM BRANCH.
B. L . A L L E N , M anager.

• The Oldest Trust Company in Oreqo'
*
In corporated April 22,1887.

PO RTLAN D
T R U S T COMPANY
OF OREGON.
Transacts a general Trust, A gen cy and Banl
Ing business; makes collection s, and Issue'
Interest-bearing Certificates of D eposit, at rate
fixed by the term s o f the Certificate.
B E N J . I . C O H E N , President.
B . L E E P A G E T . Secretary


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102