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TWO
SECTIONS—SECTION
ONE.
otmriEtriai f
INCLUDING
Bank &
Quotation Section
Railway Earnings Section
Railway & Industrial Section
Bankers' Convention Section
Copyrighted in 1910, by William B. Dana Company, New York.
VOL. 90.
NEW
Entered at N. Y. Post Office
YORK, JANUARY
gtaxttjcial.
Electric Railway
State and City
as
second
class
Section
Section
mail matter.
8 1910.
NO. 2324
financial.
f-htauxtal.
FISK & ROBINSON
BANKERS
AMERICAN BANK
NOTE COMPANY
BROAD So BEAVER STS., NEW YORK
Business Founded 1796.
Reorganized 1879
Engravers
& Printers
BANK NOTES, SHARE
CERTIFICATES,
Government Bonds
THE LIBERTY
City of New York Bonds
NATIONAL BANK
Investment Securities
OF NEW YORK
Members Naw York Stock Exchange
NEW YORK - BOSTON
-
CHICAGO
139
BONDS FOR GOVERNMENTS AND COR-
PORATIONS, DRAFTS, CHECKS, BILLS
OF EXCHANGE,
STAMPS, ETC., WITH
8PECIAL SAFEGUARDS TO PREVENT
COUNTERFEITING
LITHOGRAPHIC
AND TYPE PRINTING
RAILWAY
TICKETS OF IMPROVED STYLES
Branches in the United States
BOSTON
PHILADELPHIA
PITTSBURGH
SAN FRANCISCO
BROADWAY
The National Park Bank
Harvey Fisk & Sons
of New York.
NEW YORK
Organised 1850.
BANKERS
Capital
$3,000,000 00
Sarplas and Prefltt
9,013,516 38
Deposits Now. 16. 1909—107,340,305 90
Government, Railroad
Municipal Bonds,
RICHARD DELAFIKLD
PRESIDENT.
INVESTMENT SECURITIES.
GILBERT G. THORNE
JOHN CL McKEON.
VICE-PRESIDENT.
JOHN CL VAN CLEAF.
V1GP* PRESIDENT.
PuiBumi, represented by
JiMU H Chapman, 421 Chestnut
St.
Chicago, represented by D. K. Dhaka,
VICE-PRESIDENT.
MAURICE H. EWER,
CASHIER.
WILLIAM
O. JONES,
.
WILLIAM A. MAIN.
Boston, Mam. .represented by
or
218 La Sails St
JOHN B. Moulton, 86
ASST. CASHIER.
ASST. CASHIER.
FREIPK a FOXCROFT. ASST. CASHIER.
Memoars
and
Congress St.
Riehmono and Baltimore stool
(exchanges.
[<dm L. Williams & Sons,
Edward B. Smith 8k. Co.
BANKERS,
Corner 9th and Main Streets,
CHARTERED 1810.
BAMKKK8
RICHMOND, ?A.
MECHANICS’ NATIONAL
INVESTMENT SECURITIES
BANK.
Members Mew York and PhUa Stock
Exchanges
Satttmore Correspondent*
MiDDENDoar Williams a Oo
GARFIELD NATIONAL BANK
Fifth A venae Betiding
Cerner 5th Ave. and 93rd St.
New York
Capital, $1,000,000
N
83 Wall Street.
Capital.
B. Car. Bread A Chestaut Sts
tV fla
-
Surplus.
-
•
8,000.000
Surplut, $1,000,000
RUEL W. POOR, President
JAMES MoCUTCHEON. Vlce-Prea.
WILLIAM L. DOUGLASS, Cashier
A KTHUR W. SNOW Asst.
Cashier
ORIGINAL CHARTER 1899.
THE
Chase National Bank
Qeartaf Hearn Building
Cap. ft Sarp., Ul.68t.119
Dep.. $106,600,000
A. B. HEPBURN. President
A.H.W1GGXN,V,-Pr. SAM’L H. MILLBR.Oash.
INVESTMENTS.
GALLATIN
NATIONAL BANK
MUNICIPAL RAILROAD AND OTHER
OF THE CITY OF NEV YORK
Francis Ralston
Welsh,
.
Dirttfrr
W.Gtnnon. Chair.
James J. Hill,
OfMt B. Schley.
A. Barton Hepburn.
THE
John X.
Waterbary.
George F. Baker.
Albert H. Wlggin,
George F. Baker Jr.
Francis L. Hlne.
BONDS.
Capital
828 CHESTNUT STREET.
E^IUPREN'I
FOURTH
PHILADELPHIA. Surplus Sc
OF THE
NATIONAL.
The
—CORNER NASSAU AND PINE
Merchants National Bank
—
IS
ESPECIALLY
ARRANGED FOR HANDLING
MERCANTILE ACCOUNTS.
Profits (earned^
$1,000*099
2,400*000
OFFICERS
BANK
OF THE CITY OF NEW
YORK
STREETS
Philadelphia
New Yarn
$8*000,000
•
Street
of
Capital,
Surplus,
Samuel Woolverton. President
Adrian Iselin Jr, Vice-President
George E. Lewis Cashier
Howell T. Manson, Assistant Cashier
Philadelphia
-
S1,000,000
$800,000
ACCOUNTS INVITED
DIRECTORS
Adrian Issue Jr.
Frederic W. stsvbnb
Alexander u. otevenr
W. Bmlbn Roosevelt
Char a. Piaipdt
Samuel Wooli
Charles a. Tvud
Thomas Oseev
[VOL. LXXXX
THE CHRONICLE
n
gtattluevs attfl ■BvKtoexs of fj?0V«iga IgxcfeatxjQpe.
J. P. MORGAN & CO.
DOMESTIC AND FOREIGN BANKERS
Wall Street, Corner of Broad
Maitland,Coppell & Co., Kidder, Peabody & Co.,
52
WILLIAM
NEW YORK
DREXEL & CO„
,,
PHILADELPHIA
Corner of 5th and Chestnut Streets
MORGAN, GRENFELL & CO„ LONDON
Bills of Exchange,
HARJEjT
& CO, PARIS
Telegraphic Transfers,
of Credit,
Letters
Securities bought and sold on Commission
Interest allowed on Deposits
Foreign Exchange, Commercial Credits
Cable Transfers
Circular Letters for Travelers available In all parts
of the world
Co.,
Brown Brothers &
NEW YORK,
BOSTON.
59 Wall St.
AT/BX. BROWN & SONS, BALTIMORE.
OOHNXCm) BT PRIVATE WIRE.
Moms. N.Y„ Phila„ Boston A Baltimore St’k Exch’s
PHIUL
Buy and sell first-class In¬
Investment
vestment Securities on com¬
mission.
Receive accounts
of Banks, Bankers, Corpora¬
tions, Firms and individuals
favorable
drawnterms.
afts
abroad Collect
on all
Securities.
points
* to the United
_
to the United
States and Canada; and drafts drawn
States on foreign countries, including
Sooth Africa
INTERNATIONAL CHEQUES.
CERTIFICATES OF
-
I .offopa
liCvvvlS
n
/
j*i
^
DEPOSIT
Buy and sell Bills of Exchange
md make cable transfers on all
points. Issue Commercial and
Ureait. Travelers’
Credits, available to
all parts of the world.
OI
BROWN, SHIPLEY & CO..
BANKERS.
1NVESZMENZ SECURITIES.
LONDON.
FOREIGN EXCHANGE
Union of London Sc Smiths Bank. Limited.
LETTERS OF CREDH.
London,
Messrs. Mallet Freroo Sc Ole.,
Draft
Deposits received subject to
66 WALL
ON
81 Boulevard Haussmann
BOSTON
STKEET, NEW YOKE
US DEVONSHIRE STKEET,
Orders executed for all Investment Securities.
Act as agents of Corporations and negotiate and
issue Loans.
No. 22 Old Broad Street
MORGAN,
STREET,
NEW YORK.
Paris.
Banco Naclonal do Mexico
And its Branches.
Agents and Attorneys
BAKING
British
Agents for the Bank of Australasia, the
Galana Bank, Demerara. etc., etc.
for
BROTHERS & GO.,
LTD
LONDON
TRAVELERS’ LETTERS OF CREDIT
Available through on t the United States.
August Belmont & Co.,
J. & W. Seligman & Co.,
BANKERS,
No. 23 NASSAU STEET.
Members of New York Stock Exchange.
Agents and Correspondents of the
Messrs. ROTHSCHILD,
London, Paris amd Vienna.
ISSUK LETTERS OP CREDIT
FOR
TRAVELERS,
Available In all parts of the world.
Draw Bills of Exchange and make Telegraphio
Transfers to EUROPE. Cuba, and the
other West Indies, Mexioo and California.
Execute orders lor tbo purchase
of Bonds and Stocks.
and sale
Cuyler, Morgan & Co.,
YORK
NEW
BANKERS.
Buy and Sell Investment Securities.
Issue Letters of Credit for Travelers
Available in all Parts of the World.
DRAW BELLS OF EXCHANGE AND MAKh
TELEGRAPHIC TRANSFERS OF MONEY TO
EUROPE AND CALIFORNIA
Seligman Brothers, London.
Seligman Freres Sc Cle,, Paris.
Alsberg, Goldberg Sc Co., Amsterdam.
The Anglo and London-Paris National
Bank of San Francisco, CaL
44 Pine Street, New York*
BANKERS
TAILERA©
INVESTMENT
Redmond Adto.
SECURITIES.
BANKERS
27 Pine Street, New York
MEMBERS NEW YORK MOCK EXCHANGE.
BANKERS
Lawrence T urnure&Co.
807 Chestnut Street, Philadelphia.
INVESTMER1
SECURITIES
Bankers,
Cables “Mimosa.”
64-66 Wall Street, New York.
Deposits received subject to
Members of the New York
Stock Exchange
Winslow, Lanier & Co.,
draft. Interest al¬
lowed on deposits. Securities bought and sold on
commission. Travellers credits available through¬
out the United States, Cuba, Puerto Rleo, Mexioo,
Central America and Spain. Make collections in and
issue drafts and cable transfers on above oountrles
London
Bankers s— London
Jolnt-8toek
.
Produce Exchange
Commission,
Capital,
-
Surplus earned,
Bank
Fomign
-
$1,000,000
500,000
Exchange bought and sold.
Gable
TrasaAra. Commercial and 1Travelers* Letters of
Credit available In aD parts of the world.
Credit.
NEW YORK.
ana
Domestic
Banking Business.
Dealers in investment Securities.
John Munroe & BOSTON
Co.,
NEW YORE
Letters of Credit lor Travelers
Foreign Exchange.
Gable Transfers.
MUXR0E A 00., Pads
Lists upon
Securitise.
application.
MEMBERS N. f
Graham & Co.
banker*
Street,
Government
Securities
and Munioipai Bonds,
of Railroads, Street
Railways and Gaa companies
of
William Btreet,
established
value
STOCK EXCHANGE.
Execute owners lor purchase and
Stocks and Bonds.
iaie oi
Foreign Exchange Bought and Bold.
Issue Commercial and Traveler^ Credits
available in aU parts of the world.
Schulz &
Oommeroia! Qrodlts.
York Stock Exchange.
PHILADELPHIA
BAN HERB.
37
General Foreign
Members New
486 Chestnut
ACCOUNTS INVITED
BANKERS,
a
Deposits received subject to cheque and
interest allowed on deposits.
Dealers In High-Grade Investment
Kean, V anCortlandt&Co Heidelbach, Ickelhekner & Co..
Transact
and Cable Transfers.
BROADWAY. Corner BEAVER ST.
Deposits Received Subject to Draft, interest
Allowed on Deposits. Securities
Bought ana Sold on
80 PINK STREET,
Bills of Exchange
Cheques
Act as Fiscal Agents.
NEW YORK
Foreign - Exchange, Letters oi
of Credit and Travelers'
available the world over.
Securities bought and sold on commission.
Bank, Limited.
NEW YORK,
BANKERS.
Letters
Parle Bankers*—11 etne Sc Co.
59 CEDAR STREET,
31-33 Pine Street, New Yerk
•24 Fifth Ave., N. Y.
Act
as
Financial Agents
Issue Foreign and Domestic Litters of
Credit and Traveler*1 Cheques
& Kiihne
Ruckgaber, Knauth,Nachod
BANKERS
BANKERS,
15 William Street, New Yerk,
Members New York Stock Exchange;
m
Correspondents of Messrs.
Framing & Goschen, London.
John Berenberg-Gossler A Co.. Hamburg.
Marenard. Meyer-Borel A Ole. Paris.
Bremer Bank Flllale der Dreedner Bank;
Bremen.
Issue Commercial A Travelers' Credits.
Bay and Sell Bills of Exchange.
Cable Transfers A Investment Sceestiftos
(4
NEW YOKE
LEIPSIO, GERMANY
Members New York Stock
Eauka—»
INVESTMENT
SECURITIES
THE CHRONICLE
1910.]
JAJI. 8
jankers.
Ssniuss.
Wm. A. Re ad & Co.
Lee, Higginson ft Co.,
BANKERS.
BOSTON
Millett,Roe& Hagen
BANKERS
Investment Securities.
Chicago
New York
33 Wall
New York,
Street,
Dealers in
as
HIQQINSON & CO.
NASSAU
LONDON, E.C.
HIGH-GRADE BONDS
STREET,
NEW YORK.
r
Billdlntt, Prince’ ■ Street.
1 Bank
hi
19 Congress St.
3C^B. Osman St.
BOSTON
BALTIMORE
M la kh St.
CH1CAQO
Members New York Stook
Exchange,
Boston, to Post Office Square,
Members New York and Boston
Stock Exchangee.
N. W. HALSEY ft CO„
J. B. RUSSELL ft CO.
Plympton,Gardiner & Co,
Bombers Hew fork and Chicago
BANKERS
Stock
46 WALL
Exchanges
37 William
BONDS
8Th NEW YORK,
AND
Conservative Investments.
Phlladelohia.
Investment Securities.
LISTS ON BEQUEST
Safety Deposit Vaults for Use of Customers,
H
.
*
S Mew York Stook Exchange.
{ Chicago Stock Exchange,
Financial Representatives of the
Electric Company
Goldman, Sachs & Co.,
BOSTON
BANKERS
NEW YORK..
60 WALL STREET,
Reoetve deposits subject to check
Members of New York Stook Exchange.
allow interest on balances.
fiscal agents for munici¬
as
tatters
credit
and
Executes 'orders for purchase and
• ale of Stocks and Bonds.
lama
corporations,
and
of
deal
In
Bay and SeR Foreign Exchange.
BOND8 FOR INVESTMENT
GABLE ADDRESS “COLDNESS.-
LIST ON APPLICATION
Issue Commercial and Travelers*
Letters of Credit,
Available In all parts of the world.
DEALERS IN
Investment Securities
and Commercial
Blake Brothers & Co.,
*0
Paper
14 State Street,
Exchange Place,
Dealers in
Zimmermann ft Forahay,
NEW YORK CITY
BANKERS.
and other
9 and .11
MUNICIPAL BONDS.
Wall Street, New York.
if embers Now lark Stock
Commercial Paper.
Investment Securities.
FOREIGN EXCHAN6E
Bought & So/d
LETTERS OF CREDIT ISSUED.
Cable Transfers to all Parts of the World,
BOISSEVAIN & CO.,
CRIMP, MITCHELL t SHOBER
YORK
Members New York Stock
Exchange.
1411 Chestnut St.,
TBAN8AOT A GENERAL BANKING AND
STOCK EXCHANGE BUSINESS,
Philadelphia
Mmshsm New Yerk and Phlta. Stock
Basks—■
Investment Securities
GOODWIN
BANKERS
C. G. YOUNG
ENGINEERING AND CONSTRUCTION OF
PUBLIC UTILITIES AND INDUSTRIALS
also
INVESTMENT SECURITIES
60 Wall
Street, New York
PHYSICAL AND FINANCIAL REPORTS
Members New York Stock Bxohaage
aad Boston Stook Exchange.
Ill Broadway
NEW YORK
Charles
Head & Co.,
Members of
New York and Boston Stook Exchangee
17 Broad Street,
NEW TORE
74 State Street,
BOSTON
4
King Street, West, Toronto, Out.
Hospital Street, Montrea1, Qua.
10 Federal Life Bldg.,Hamilton,
105 Banigan Bldg., ProYldenoe,
Private wires connecting
Out
R. I,
all offieee
WOLLENBERGEB & 00
BANKERS
Specialists in
Foreign Government Bonds
CHICAGO
206 La Salle Street
Stem &
Schmidt,
FOREIQN EXCHANGE,
INVESTMENT SECURITIES
*V WILLIAM STREET, NEW YORK.
Members N Y. Stock. Cotton and Coffee tixeiuuiges.
Shoemaker, Bates ft Co.
Corporation and Collateral Loans
Commercial Paper
Osagr— St.
BOSTON
South America and Mexico.
issue Letters of Credit ior Travelers,
available in all parts of the world.
BANKERS
Adolph Bol see vain ft Co.
Am tier dam Holland.
BOND ft
and Maks
Asia, As*
tralia, the West Indies, Central and
Oemspendenoe Invited.
2a BROAD STRBBV
NEW
Draw Bills ot Exchange
Cable Transfers to Europe,
Exchange,
Orders executed for stocks and bonds tor Invest¬
ment or on margin.
Members New York A Boston Stock Exchanges
*
Cor. of Wall and Broad Sts., New York.
20
BOSTON.
HEW YORK,
INVESTMENT SECURITIES.
H. B. HOLLINS & CO.
ftfi Federal St.. 178 Devonshire St.
palities
NEW YORK
Members N. Y. Stock Exchange
Automatic
Pine Street. Comer William
NEW YORK
Act
85 Wall Street
CHICAGO, ILL.
SCRANTON, PA.
WILKES-BARRE, PA. BINGHAMTON, N.Y.
ELMIRA, N. Y.
BANKERS
and
San Franeiteo
GEO. P. BUTLER ft BRO;
BRANCH OPRCE8:
V
.
Chicago.
XOBKl
RAILROAD AND OTHER
N.W. HARRIS ft CO
‘
INVESTMENT.
49 Wall Street, NEW
High-Grade Bonds
333 La Salle St„ Chicago.
FOR
Interest Allowed on Deooslt Accounts,
Fiscal Agents for Cltlos and Corporations*
DEALERS IN
SU, New York
BANKER8.
In any part of the world
84 LaSallo St.
CHICAGO
TWENTY YEARS EXPERIENCE
9
BANKERS
•‘"*~{8B£aS3?lJ37a>
INVESTMENT securities
37-43 Wall 8t., NEW YORK.
Walder 1-Astoria and 500 Fifth Atom N.Y
Real Eet, Tr. Bldg,, Philadelphia
IV
THE CHRONICLE
[Yol.
ttt
Behrenstrasse 9 to It.
--I
Co. dank of Montreal
of London, Limited.
BERLIN* W.
CAPITAL
Banks.
BANK, The Union Discount
DEUTSCHE
29 CORNHILL
-TZ7.
Telegraphic Address. Udtsoo. London.
$47,619*000
M. 200.000.000.
Capital Subscribed
$24,690,000 Paid-Up
RESERVE
M. 102.690.002.
$7,500,000
2.750.000
8,700.000
Reserve Fund-$5=21 STERLING.
-
Dividends paid daring last ten jean:
11. 11. 11. 11. 11. 12. 12. 12. 12. 12. per cent
NOTICE
IS HEREBY GIVEN that the
RATES OF INTEREST allowed for money on
deposit are
Brandies:
as
follows:
(ElhMMnl 1817)
CAPITAL paid in - BEST
.....
$14,400,000 06
12,000,000 00
UNDIVIDED PROFITS,
368,311 00
Head Office—Montreal
R*b?£i»V5?.
Hon. Sir George Drummond.
K. C. M. G.. C. V. O.—President.
Sir Edw. Clouston Bart.—V.-Pres. A Gen. Mgr.}
BREMEN. DRESDEN. HAMBURG. LEIPSIO, At Call. 2% PerCeot.
FRANKFORT-ON-MAIN, MUNICH.
NUREMBERG. AUGSBURG.
lxxxx
NEW YORK OFFICE.
At t to T Days* Notice. 2 % Per Cent.
No. 31 PINE STREET
and the
The Company discounts approved bank and
mercantile aooeptanoes. receives money on de¬
posit at rates advertised from time to time, and
grants loans on approved‘negotiable seourtttos.
R. Y. HEBDEN.
W. A. BOG.
J. T. MOL1NEUX
Deutsche Bank (Beilin) London Agency
CHRISTOPHER R. NUGENT. Manager.
WIESBADEN.
BRUSSELS. CONSTANTINOPLE
4 George Yard. Lombard St..
LONDON, E. 0.
FRENCH FINANCE CORPORATION
BANCO ALEMAN TRANSATLANTIC!)
OF AMERICA.
(Deutsche Ueberseelsche
Bank.)
SUBSCRIBED
CAPITAL
^
Purchasers
($7,148,000)
M. 20.000,000.
PAID-UP CAPITAL
M. 22.500.000.
RESERVE FUND
M. 6.170.000.
HEAD OFFICE
Investment
Securities for the French
($5,857,000)
Merchants’ Bank of Canada.
HEAD OFFICE MONTREAL
$6 000.000
Rest and Undivided Profits
4.602.157
NEW YORK OFFICE, 62 and 65 Wall St.
c^'/croo’kalL. }Afenu
ACT AS FINANCIAL AGENTS IN FRANCE
IN THE OBTAINING OF LOANS AND SALE
OF SECURITIES.
Branches:
Bahla-Blanca, BeU-VUle. Buenos
Aires, Cordoba, Tucuman.
BOLIVIA: La Pas. Oraro.
CHILI: Antofagasta. Concepcion, Iqulque, Osorao,
Santiago, Temuco, Valdivia. Valparaiso.
NEW YORK.
ARGENTINA:
PARIS.
40 WaB Street.
25 bis
ran
Montevideo.
Berliner
SPAIN: Barcelona, Madrid.
Bills sent for collection, negotiated or
advanced upon.
Handels-Gesellschaft,
Drafts« cable-transfers and letters
129 branches in the Provinces of Quebec. Ontario.
Manitoba, Saskatchewan. Alberta and British Co¬
lumbia. Good facilities for effecting prompt col¬
lections in Canada. Buy and sell Sterling Exchange
and Cable Transfers. Issue Commercial and Trav¬
elers' Credits available In any part of the world.
London
Agents—Royal
d*Anjou.
Arequlpa, Callao, Lima. Trujillo.
URUGUAY:
Buy and sell Sterling and Continental Exchange
CAPITAL-
FOR AMERICAN RAILWAY CORPORATIONS
BERLIN
Agents.
and Cable Transfers; grant Commercial and Trav¬
elers' Credits available In any part of the world)
Issue drafts on and make collections In Chicago end
throughout the Dominion of Canada.
Leaden Office. No. 46 A 47 Threadneedle At
F. W. TAYLOR. Manager.
„
Market.
($1,469,000)
Kanonlerstrasse 29 to SO.
PERU:
of IFirst-Class
j
Bank
of
Scotland
gtrrtljju.
The London City &
Midland Bank, Limited,
5
HEAD OFFICE
Threadneedle Street. London.
England.
of credit issued.
BERLIN, W.t
London Agents
Behrenstrasse 32-88 and Fransoslsche-Strasse 42
With Branches In all the Principal Cities and
Towns of England and Wales.
Telegraphic Addreee—Handeleehaft, Berlin
Telegraphic Address: Cinnabar, London.
DEUTSCHE BANK (BERLIN) LONDON AG*Y
GEORGE Y’D, LOMBARD ST.. LONDON. E.C.
ESTABLISHED 1826
E8TABLI8HED 1856
Direction der
Banking 1 ransactions of Every Description
Disconto-Gesellschaft,
ESTABLISHED 1851
re
Capital,
Beserve,
BERLIN W. 48-44 Behrenstrasse
BREMEN; FRNAKFORT-o-M.;
-
-
-
-
-
-
-
M.
THE
Swiss Bankverein
$40,476,200
Schweiserischer Bankverein
Bankverein Snlssa
$13,712,626
M.
Basle, Zurich, SL Gall, Geneva
57.590.611.
With the unlimited personal liability
of the following partners:
A. SCHOELLER.
M. SCHINCKEL,
I
Agendas at Rorsohaoh, Ohlaaso and Herlsau
LONDON OFFICE, 43
Lothbury, E.C.
BANK Capital paid up, . Frs.62,800,000
Surplus, .... Frs.16,330,000
fur Deutschland.
BRA8 ILIAN ISC HE
Bank fur Chile und
Deutschland.
CAPITAL
M. 10.000.000 00
HAMBURG, with branches In CHILE (Banco de
Chile A Aleman la). Antofagasta, Coneepsfon, Santiago,
Temuco. Valdivia, Valparaiso, Victoria; and: In
BOLIVIA (Banco de Chile A Aleman la. Secelon Bouviana). La Pas and Orure.
The above-named banks, founded and represented in
Europe by the
Direction der Dleconto-Oosellochaft
Barite. Bremen. Frankfort-o-M.. Mains and London
Nerddantschn Bank in Hamburg,
HAMBURG, offer their servUns fraC*verv description
regular banking transactions.
m
BASKING CORPORATION
Paid-up Capital (Hong Kong Currency)
“
T
InGoid73l6.000.000f
000/
S12.000.0ii
80,220,009
12.000.009
GRANT DRAFTS. ISSUE LETTERS OF CREDIT.
NEGOTIATE OR COLLECT BILLS PAYABLE IN
CHINA. JAPAN. PHILIPPINES. STRAITS SETTLE-
MBNTS. INDIA, TAIPEH, MALACCA* ETC.
WADE GARD*NER Agent. 96 Wall St.
Wiener Bank Vcrein
-
-M. 10.000.000 00
Branches:
SANTOS. PORTO ALEGRE. BAHIA.
Hong Kong & Shanghai
InSOver. 15.250
[ties of Proprietors
E. RUSSELL.
F. URBIG,
Head Office: HAMBURG.
RIO DE JANEIRO; SAO PAULO,
Tel. Address. Voce.
Codes: Hartfleld's Wall St.,W.U. A Lleber.
l
A.aSALOMONSOHN,
CAPITAL
HAGUE, HOLLAED
PUe* American Investments in Europe
58 Cornhill
RESERVE
VAN OSS A CO.
34,000,000
LONDON E. C..
M. 170,000.000.
Sir EDWARD H. HOLDEN. Bart.. M. P..
Chairman and Managing Director,
M .110,000,000
MAINZ. WIESBADEN.
CAPITAL, fully paid,
SUBSCRIBED CAPITAL, $91,178,400
PAID-UP CAPITAL, - - 18,996,600
RESERVE FUND,
17,096,960
The National Discount
Company, Limited.
85 CORNHILL.
-
Cable Address
-
-
LONDON. E. C.
Natdiat London.
Subscribed Capital
Pnld-np Capital
Reserve Fond
($5=21 STERLING.)
$21,109,625
4,288,825
2.100,000
NOTICE IS
HEREBY GIVEN that the
RATES OF INTEREST allowed for money on
deposit
are as
follows:
At Call, 2 H Per Cent Per Annum.
At 8 to T or 14 Days' Notice. 2 H Per Cent.
.
Approved bank and mercantile bills discounted.
Money received on deposit at rates advertised
from time to time and for fixed periods upon
specially agreed terms.
Loans granted on approved negotiable securities.
PHILIP HAROLD WADE. Manager.
ESTABLISHED 1869
CAPITAL (fully paid)
$26,342,004
-
-
(180,000.000 crowns)
RESERVE FUNDS
-
-
-
$7,900,064
(89.000,000 crowns)
HEAD OFFICE VIENNA
(AUSTRIA)
Branches in Austria-Hungary.
Agram, Aussig a-E., Bielitz-Biala,
Briinn, Budapest, Carlsbad, Czernowits, Friedek-Mistek, Graz, Innsbruck,
Klagenfurt, Krakau, Lemberg, Marionbad, Meran, Pilsen, Prag, Przemyel,
ProssnitB, St. Polten, Tamow, Teplitz,
Teschen, Villach, Wr. Neustadt.
Branch in
Turkey.
Constantinople.
Jan.
*
THE CHRONICLE
1910.]
tfanadiatt Satt&f.
THE
Y
Sank* and SkuIuks.
CANADIAN BANK
OF COMMERCE,
HEAD OFFICE. TORONTO
PAID-UP CAPITAL
..-*10.000.000
6.000.000
SURPLUS—-
NEW YORK OFFICE:
EXCHANGE
PLACE
Wm. Gray and C. D. Mackintosh.
Agents.
Not.
AND
16
18
Buy and Sea Sterling and Continental
Ex¬
change and Cable Transfers. Commercial and
Travelers^ Credits. Collections made at all points.
Edward Sweet & Co.
Members N, T. Stoek
BANKERS
Exchange
Bankers & Brokers
Banking and Exchange business of every de¬
transacted with Canada
scription
LONDON OFFICE—2 Lombard Street. B
17 NASSAU STREET
'new
C.
BANKERS IN GREAI BRITAIN
The Bank of England.
The Bank of Scotland
Members of the New York
Stock Exchange. Dealers in
Government Bonds and other
Investment Securities.
In¬
terest
YORK
ESTABLISHED
Lloyd's Bank; Limited.
Mackay & CO.
allowed
on
deposits.
Nassau and Pine Streets
New York
1864
Union of London and Smith's Bank. Limited.
The Bank of
British N orth America
Established in 1836
Incorporated by Ropai Charter
fald-np Capital
Reserve Pond..............
in
1840
£1.000.000 Ster.ing
800.000 Sterling
ESTABROOK &
CO., Geo.A.Fernald&Co.
BANKERS,
Head Offioec
6 Graoechurch Street. London. E. O.
New York Office: 62 Wall Street.
H. M. J. McMICHAEL. 1 Agents.
W. T. OLIVER.
Buy and sell Sterling and Contmenta Exchange
•nd Cable Transfers
Grant Commercial and
)
Travelers’ Credits available in any par1 a the
world.
Issue Drafts on and make Collections in
aT parts of the United Stater and Canada
&*uuaiuu $xnluv&.
Mem here Boston Stock Exchange,
16 State Street, Boston.
BROAD
64
BANKERS
STREET, MEW YORK,
INVESTMENT SECURITIES.
GOVERNMENT, MUNICIPAL AND
CHOICE RAILROAD BONDS.
Municipal, Railway
and other
Corporation Bonds
BOSTON
NEW YORK
n MILK STREET
M WALL STREET
Oa.na.<iia.ii Bonds
MUNICIPAL AND CORPORATION
WOOD. GUNDY &COTORONTO
CANADA
R. L. DAY A
S5
•7 Wall 8t
CO.,
Congress St*
BOSTON
NEW YORK
HiGHGRADE INVESTMENT BONDS
Munictoal and Railroad
W. GRAHAM BROWNE 8 CO
MONTREAL
•
-
BANKERS A
S3 8TAXM SI.,
BROKERS,
94 BROAD SR.
NEW YORK
BOSTOlt
17 BItRJLBANI SI., NEW BBDWORD
Of am bora Boston aid Now York took
Bxekaaiea.
Momboro Raw York and
Bwlta 8tMk KxekutM
CANADA
Canadian Bond- Bought Sold and
Tucker, Anthony ft ,Co.
Appraised
BIGELOW & COMPANY
Pttattcbdi.
Rhoades Sc Company
46 WALL STREET.
NEW YORK
HIGH-GRADE BONDS
Electric
WE OFFER
Bankers and Investment Dealers
Proven Public
Utility Securities
ELECTRIC BOND & SHARE CO.
(Paid-Up Capital and Surplus, $4,600,000)
02 CEDAR STREET, NEW YORK
State, Municipal and Railroad
7 Well St.
Now York.
Railroad, StreetBy., Gas & Boa. Light
SECURITIES.
Raw York
Telephone 7194 Hanover.
BERTRON, GRISCOM & JENKS
BANKERS,
MemAwn New York Stoek Exchange; Execute
OonualMkm Order* Depoelte received enbjee* te
Land Title
draft.
Letters of Credit and
Travelers* Cheeks
Available Throughout the World
Hartford—st peait street
Ballilng, 40 Wall Street,
PHILADELPHIA.
HEW TORI.
INVESTMENT SECURITIES.
Alfred Mestre & Co.
BANKERS
H. W. Noble &
Company
BANKERS
HODENPYL, WALBRID6E & CO..
INVESTMENT SECURITIES
48 ViB Street
WE FINANCE
Light, Power and Street
Railway Enterprises with records
of
established
earnings
BANKERS
BANKERS
High-Grade Bonds
AND
Investment Securities
Members of the New York
Stock Exchange.
Dealer*
in Municipal, Railroad and
Equipment Bond*
Interest allowed on Depoeit*
Subject to Draft
NEW YORK 63
DETROIT
Bntdwtr
PHILADELPHIA
RRW YORK
ISO 8.16th a*.
THE CHRONICLE
VI
ISuxxznt
[Yol.
%$ovu(l inquiries.
Missouri & Illinois Bridge &
Baltimore Chesapeake & Atlantic 5l^>34
Toledo Terminal Railroad
4}^s, 1957
^
Maryland Delaware & Virginia 5s, 1955
Newcastle & Shenango Valley 6s, 1917
Atchison & Eastern Bridge 4s, 1928
Leroy & Caney Valley 5s, 1926
Genesee & Wyoming 5s, 1929
New York & Jersey 5s, 1932
Wabash Equipment 5s, 1921
-
CHESAPEAKE & OHIO
Grain Elevator Co. First Mortgage
4% Gold Bonds
Due October 1, 1938
Guaranteed, Principal and Interest,
by endorsement by the
*
Southern Indiana 4s, 1951
Chesapeake A Ohio Railway
PRICE. 84H AND INTEREST. YIELDING 5%
G. W. Walker & Co.
BANKERS
100-101 Broad
Spring Valley Water Co.
J, LISMAN & COMPANY,
(San Francisco)
SPECIALISTS IN STEAM RAILROAD SECURITIES
Members N. Y. Stock Exchange
30
BROAD
General Mtge. 4%
State Savings Bank Building,
Bonds
Capital Stock
NEW YORK
STREET,
Land Title A Trust Co. Building,
SS Bread St.
New Yerk
Telephone
AND ALL OTHER STEAM RAILROAD SECURITIES DEALT IN
F.
lxxxx.
PHILADELPHIA
SUTRO BROS. & CO
HARTFORD
BANKERS
44 PINE
Norfolk A Western—
STREET, NEW YORK
Stoclr kxohanft
Members New Tork
DIVISIONAL 4s
CONSOLIDATED 4s
GENERAL 6s
NEW RIVER DIV. 6s
EXTENSION & IMPROVEMENT 6s
$5 Cedar Street
Telephone 1000 John
Robt.G lend inning
&Co.
400 Chestnut Street
CAR TRUSTS
Central Pacific 3J^s
POTT. A TYlgT.PTTT A
A- A. LISMAN & CO.,
Oregon Short Line 4s
Tel. SMO-1-3 Broad
Jefferson M. & I. 2d 7s
Wilkes-Barre A Scranton 1st 4)^s
Easton A Northern RR. 1st 4^s
Houston & Texas Cent.
Choctaw Okla. A Gulf Consol. 5s
Sfi Broad St.. New York
PROCTER
&
BORDEN
.EQUITABLE BUILDING. NEW
Lehigh & New York First 4s
4s, 5s, 6s
Richmond & Allegheny 1st 4s
Huntingdon & Big Sandy First 6s
Westchester Lighting Co. First 5s
Wilmington Gas Co. First 5s
County^of Luzerne, Pa., Funding 4s
St. Paul & Duluth 4s
YOlfcK
St. Paul & Duluth 1st 5s
Morris & Essex 7s, 1915
WANTED
SEABOARD AIR LINE
Hanover Fire Insurance
Phenix Insurance iBklyn)
WE HAVE FOR SALE
Adjustment 5s
$50,000
Chicago & North West. Cons. 7s, 1915
TO NET 4.05%
Chicago A Erie 1st 5s, due 1982
Rio Grande & Western 1st 4s, due 1939
Duluth A Iron Range 1st 5s, due 1937 FREDERIC H. HATCH & CO.
Chic. A Western Indiana 4s, due 1952 Dealers In Unlisted and In&ctve Securities of
Railroads and Other Corporations
Macon Dublin A Savan. 1st 5s, due 1947
In the United States and Elsewhere.
Det. Gr. Rap. A West. 1st 4s, due 1946
30 BROAD STREET, NEW YORK
Flint A Pere Marquette 1st 5s, due 1939
Tel. 5140 to 5158 Broad, Inclusive
Atlantic A Danville 1st 4s, due 1948
Branch Office. 50 CONGRESS ST.. BOSTON
.
Chisholm * Chapman
FERRIS & WHITE,
Tel. 6837-8 Hanover
87 Wall St.. New York
Members of the New Tork Stock
$50,000,
or
75 State Street
New York.
Boston.
Part, each.
Mason
State of
Georgia Bonds
City of Atlanta Bonds
H.
HILSMAN
City of Minneapolis 4s, 1917
Bangor & Aroos. 1st 5s, 1943
& CO.
New Haven Deb. 4s, 1956 Col. New. & Zanesv. 1st 5s,
EMPIRE BUILDING, ATLANTA. QA.
WE WANT TO BUY
Baltimore & Ohio 4s
Republic of Cuba Internal 5s
West Shore Registered 4s
WE OFFER
1924
NEW YORK
BOSTON
34 Pine Street
50 State Street
J. H. BECKER & CO.
IS Wall St., New Tork
INVESTMENT BONOS
—OF—
UNQUESTIONABLE
SECURITY
Netting from 4^% to 6%.
Requests for information either by personal interviews or cor¬
respondence will be gladly received and attended to promptly.
BAKER, AYLINC A COMPANY
first
A
6s, 1942
mortgage Main
BOSTON
Cicrular
Line
yield 4.55%
on Application
Bond
FOSTER 8b ADAMS
Members N. T. Stock Exchange
8 WALL STREET.
NEW YORK CITY
Private Wire
Telephone 1846 John
WE OWH AND OFFER
PHILADELPHIA
84 Pine Street. New Yerk
Missouri Kansas & Texas of Texas
BURGESS, LANG & CO.
»'abash
Equipment
& West5sTexas 5s
ouston East
Ohio 4^a
BLAKE & REEVES
Tel. 1504 John
to
Lehigh Valley of New York 4J4s
Tel. 685 Rector
Toledo Walhonding Vy. A
Willmar A Sioux Falls.Ss
0. B. A Q. Iowa 5s
Wabash Omaha Div. 3^8
City & Ft. Dodge 4s, 1955
Wise. Minn. & Pacific 4s, 1950
Duluth Rainy Lake & W. 5s, 1916
Canton-Mas. El. Ry. 1st 5s, 1920
Any maturity
J.
Exchange
18 Wall Street,
WANTED
Telephones. 2540-2541-2542 Fort Hill
Private telephones between New York and Boston
*
?|R£ir,?E,*CE
Alliance Gas A Electric First 5s
Alliance Gas A Power Refunding 5s
Buffalo A Susq. Iron First 5s
Buffalo A Susq. Iron Debenture 5s
Cit. Ry.A Lt. (Muscatine, la.) 1st 5s
Pingree, McKinney & Co.
8
Congress Street,
Boston
Merchants’ National Bank
Royal Baking Powder Pref.
LUTZ
8b
Bank A Trust
COMPANY
Company Stocks
25 Broad 8t., N. Y.
Tel. 273 Broad
Jan. 8
TO
THE CHRONICLE
1910.]
ffittKKml
gimA S«ujttlKtje5.
N. Y. a cp.e
Hudson Company 6s, 1911
Kansas City A Pac. 4s, 1990
Pittsb. Shen. A L. E. Cons, 5s,
F\T4g
WIS CENMHrDUL DIV. 4s
SO. RY siVEbuis OIV 4s
AM ^TEEL FOUNDRY DEB. 4s
ONTARIO POWER CO. 1st 5s
Traction, Industrial and Powor Co. bonds and stocks bought and sold
1943
1912
England Watch Co. Stock
General Rubber Co. 4J^s, 1915
Intercontinental Rubber Go. Common
St. L. A San Fran. 4 j/£s,
New
Glide, Wiuisiill &Co.
PFAELZER & CO.
BANKERS
20 BROAD STREET, N. T.
Telephone 445-6-7 Rector
Unified 4s, 1940
Reading General 4s, 1997
WE OFFER
Louisv. A Nashv.
Del. A Hud. Ref. 4s, 1943
Union Pacific 1st 4s
Missouri Kansas & Texas
Chic. Mil. A St. P. Gen. 4s, 1989
Pa. Real Estate 4s, 1923
Pa. Co. Coll. Trust 4s, 1931
Extended 5s
Erie General Lien 4s
Michigan Central Debenture 4s
Pere Marquette 6s
NEWBORG & CO.,
Western Pacific 5s
MEMBERS N. Y. STOCK EXCHANGE
60 BROADWAY. N. Y.
Underground 4>£s
Chicago & North West 33^s
London
Cable Address.
Telephone 4290 Rector.
••NEWROSE"
PRIVATE WIRE TO ST. LOUIS
WE
WILL
LEO SPEYER
Member N. Y. Stock Exchange
BUY
OFFICE AT
Temple Iron 4s. 1925
Chicago Subway 5s. 1928
Fairmont Coal 5s. 1931
United Lead Debt. 5s. 1943
Illinois Tunnel 5s. 1928 "
Penn. Coal & Coke 5s. 1953
WE
ARTHUR LIPPER & CO.
2t BROAD STREET.
WIiL SELL
SchwarzschUd & Sulzberger 6s. 1916
O’Gara Coal bonds & stock
Fairmont Coal 5s. 1931
Paint Creek Collieries 5s. plus 100% stock bonus
Kings Co. Electric Light & Power 5s. 1937
Internet. Time Recording Co. preferred
MEGARGEL & CO.
BANKERS
NEW YORK
6 Nassau Street
Pacific Coast 5s, 1946
Kan. City F. S. & Mem.
1913
Tel. 7756 1-2-3 Hanover
17 Wall Street
NEW
(Registered), 1939
Impt.
N. Y., Sanitary
1975-1982
Jamaica Water Supply Co. First
Mtge. Unified 5s, 1954
Write or Call for Special Circulars
Westchester Co.,
Sewer Dist. 4s,
Ft. W. Van Wert A Lima Tr. 5s, 1930
Danville Urb. A Cham. 5s, 1923
Boch. Syracuse A East. 6s, 1945
Detroit A Flint Ry. 6s, 1921
Citisens Ry. A Lt. (Muscatine, la.)
6s, 1917
LEONARD SNIDER
60 Broadway
New York
Land Title Building.
Philadelphia.
Barnum & Co.
FOR SALE.
NEW YORK
Washington
WARREN, GZ0WSKI & CO.
Exchange
Eastern Steel Co* 1st
5s, 1931
GILMAN & CLUCAS
Tele. 3657-8-9 John
84 Pine St.. N.
Y. City
Canadian Bonds
YORK
Morris A Essex 7s, due 1914
Impt. 5s, due 1921
Wabash RR. 1st 5s, due 1939
Chic. R. I. A Pac. Gen. 4s, due 1988
Oh. R. I. A P. Coll. Tr. 4s, due 1914
Amer. Dock &
Western Maryland 1st 4s, due 1952
Western Pacific 1st 5s, due 1933
U. S. Rubber 6s, due 1918
Morris A Essex 4^s, due 1912
Nash. Chat. A St. L. 7s, due 1913
TAX-EXEMPT GUARANTEED STOCKS.
HIGH-GRADE PREFERRED RR. STOCKS.
]o$«pb(Uajk(rS$oti$
St.
48
Members Toronto Stock
EYER & COMPANY
Broad
City of Buffalo, N. Y., River
27 PINE STREET.
Wabash 1st 5s
Members New York
day January 10,1910.
Philadelphia
St. Paul, new general 4s
Illinois Central, Omaha 3s
20
Tax
NEW YORK
BANKERS.
Cin. Ham. & Dayton 4s,
‘
tax-exempt in n. t. state
4s, 1936 Lawrence
Bethlehem Steel 5s, 1926
Central Indiana 4s, 1953
°
V.
25 BROAD ST.. N.
Tel. 1510 Broad
Stock Exchange,
New York.
Cof fin & Company
NEW YORK.
NEW YORK
25 Broad St.
TORONTO
4 Colborne St.
Offices Connected by
Direct Wire.
Cin. Gas Transp. 5s, 1933
Ills. Central Tract. 5s, 1933
Holden Paper Co. 5s, 1919
White Investing Co. Stock
Altoona Gas 5s
Susq. Blooms. A Berwick 5s
City of Pittsburgh 4s and 5s
Penna. Borough 4s netting 4%
Qeorge B. Atlee &
119 S. 4th St.,
Buff. A L. Erie Tract. 5s, 1936
N. Y. A Pa. Tel. A Tel. 4s A 5s
Co.
PHILADELPHIA
Members Phlla. Stock Exchange
Tel. 7255
S. R. TAYLOR
Hanover
49 WALL ST.. N. Y.
Municipal, Railroad and
Public Service
Corporation
Stock
BONDS
Edward V. Kane & Go.
CLIFFORD ARRICK
PHILADELPHIA
North American Building.
Members Philadelphia Stock Exchange
Telephone
Central Union
27 Talbott
Bldg.
INDIANAPOLIS
'Phones
BeU-Walnut 2290.
Keystone-Raoe 499
Wisconsin Minn. & Pacific
Mason City & Fort Dodge 4s
Southern Pacific of Cal. 6s,
Western Pacific 5s
1912
Cincinnati Ham. & Dayton 4s & Incomes
Iron Mountaii 5s
Rock Island Refunding 4s
Southern RR., St. Louis 4s
OFFER
Oahaba Coal Mining 6s
Colorado A Southern 4s
Chicago A Erie 5s
0. B.AQ., Illinois 3^s, Reg. A Coup.
Scioto Valley A New England 4s
Chicago A North West 5s,
Alabama Midland 5s
Big 4, Cairo 4s
1933
WERNER BROS. &
Tel. 4800-1-2-3-4-5 Broad.
GOLDSCHMIDT
25 Broad Street.
N. Y.
TUI
THE CHRONICLE
[VOL.
LXXXX
(8,uxxtnt gaud %nqnixizs.
Wanted
60
100
60
100
26
100 Lawyers’ Title Ins. ft Trust
100 Pope Manufacturing Com.
16 Title Guarantee ft Trust
100 U. S. Ind. Alcohol Pfd.
100 U. S. Light. ft Heating Pfd.
TeL 4996-7-8 Broad
Aper. District Telegraph (N. J.)
100"Amer. Manufacturing
100 Barney ft Smith
500 Composite Type Bar
25 National Light, Heat ft Pow., Pr.
100 National Light, Heat ft P., Com.
100 Mahoning Investment
100 Trenton Potteries
100 Union Typewriter Com.
25 Union Typewriter 1st Pref.
100 U. S. Industrial Alcohol Com.
52 Beaver
Amer.
Light ft
J. K. Rice. Jr. & Co.
33 WALL STREET, N. Y.
We offer
seven
per
one
cent
7%
hundred shares of the
cumulative
Preferred
Stock of a large Textile
Company
which shows present earnings of more
Broad St.. N. 7. than four times the dividend require¬
ments on the Preferred Stock.
We will be pleased to furnish more
New York
City Street Ry. Issues.
complete information upon request.
Metropolitan St. Ry. 5s, 1997
Inactive Securities a Specialty
Lexington Ave. & Pav. Ferry 5s, 1995
Second Ave.cons. 5s, 1948
(Tr.Co.ctfs)
HOTCHKIN A CO
Third Ave. 4s, 2000
Phones 7460 to 7466 Hanover
Laclede Gas Co. 1st 5s, 1919
St. Jos. By. Lt. Ht. ft P. 5s, 1937
Atch. ft East. Bridge 1st 4s, 1928
Nashv. Florence ft Shef. 1st 5s, 1937
Fonda Johns. ft Glov. 4^s, 1952
WOLFF,
Cable Add. "MO WOLF” 27 William St.. M. Y.
Phones 6557-6568-6559 Broad
Johnstown Passenger Ry. Co. Refunding 4s, due
1931. Free of tax in Pennsylvania
Chattanooga Ry. & Light Co. First and Refunding
STOCK EXCHANGE BLDO.. BOSTON
PATERSON & CO.,
Td. 1985-6-7 Rector
Railway Equipment Issues
FREEMAN & COMPANY
34 PINE STREET. NEW YORK
Telephone 5089 John
5s, due 1956
St. Clair County Gas & Electric Co.
Consolidated
Guaranteed 5s, due 1959
Pacific Telephone 1st 5s, 1937
Union Pacific 1st ft Ref. 4s, 2008
WURTS,
DULLES A CO.
US S. FOUR! H
Western Pacific Ry. 1st 5s, 1933
ST..
PHILADELPHIA
Telephone Lombard 1060-1061
Union Railway, Gas A Electric
Portland Railway, Light A Power
Memphis Street Railway
ALL LOUISVILLE LOCAL SECURITIES
S. C. HENNING & CO.
Broadway.
NEW YORK CITY
CURTIS A SANCER
Member* N.Y., Boston & Chicago Stock
Exchange*
38 Wall Street
Boston
NEW YORK
Chicago
Minn, ft St. Louis
Refunding 4s
Ohio Central Refunding 4s
Pere Marquette Refunding 4s
Kings Co. Elect. Lt. New Convert.
TRADED IN BY
—
WANT
St. Jos.
Ry.,Lt.,Ht.ft P.Co. 1st 5s,*37
Pough.Lt., Ht.ft P. Co. 1st 5s, 1921
Newb. Lt. ,Ht. A P. Co. 1st 5s, 1921
Ga. Oar. ft Northern 1st 5s, 1929
Sutton,
Strother & Co.,
Calvert
Streets
MILTON WEBER
( BROAD
Exchange
Railroad and Other
Investment Bonds
K. B. WADE
49 Wall Street
STREET
San Diego Con’s Gas ft Elec.Oom. ft Pref.
Arisen* Power Co. Oom. ft Pref
WIllllM P. BONBRIGHT & CO
Members of New York Stock
Exchange,
S4 BROAD STREET. NEW
YORK
Colorado Springs, Col.
15
George St., Mansion House, London, B. C.
CHICAGO—Richard Fitz Gerald, 1st Nat. Bank
Bldg.
BOSTON—R. A. ft B. L. Manning, 35 Congress St
PHILADELPHIA—M. W. Stroud Jr., Lafayette Bldg.
Lansing Fuel ft Gas Co.
H. L. NASON A CO.
BANKERS
National Shawmnt Bank Beil din*
Paris Water 3s
Arnold Print Work 6s
Twin State Gas ft Electric 4Us
Empire Ooke ft Interurban Gas 5s
Colo. Sprgs. ft Electric Power 5s
Guanaj. Red. ft Mines 6s with stock
Atl. Birm. ft Atlantic Equipment
5s
F. W. MASON & CO. SJSVL
Amer. Water-Works ft Guar. 06. StockButte Electric ft Power Go. com.
Omaha Water Oo. 5s
Knoxville (Tenn.) Water 4s
Cincinnati Richmond ft Munde 5s
60
STUART
Broadway.
Telephono.
NEW YORK
155 Rector.
Equipment Bonds
17 STATE
AND
SYRACUSE SECURITIES
MALCOLM
and Car Trusts
Swartwout & Appenzellar
BANKERS
Members N. Y. Stock Exchange
NEW YORK CITY
John B. Stetson Warrants
Illinois Central Traction 5s. 1933
Fort Wayne & Wabash Vai. 5s. 1934
Indianapolis Street Ry Co. 4s, 1933
Philadelphia
Amer. Brake Shoe Com. ft Pref.
Amer. Power ft Light Com. ft Pref.
Central Ry. Syndicate
Subscriptions
Kan. City Mex. ft Orient 4s ft Stocks,
WM. M
Tel. 1015-15-17 Rector
CLARKE
SO Broad St.. N. Y.
STREET. BOSTON
Am. Tel. ft Tel. Oonv. 4s, March 1936
Am. Tel. ft Tel. Ooll. Tr. 4s,
July 1926-
V. Y.
Telephone 4^s, November 1986*
GEORGE L. WARE
Tel. 984 Main
53 State St.. BOSTON
Chic, ft Great Western New 4s
Delaware ft Hudson Refunding 4s
Ohic. Milw. ft St. P. General 4s
Buff, ft
Susq. 4s and 4^s
GILBERT ELIOTT & CO.
fU. John 855
NEW YORK
SAMUEL K. PHILLIPS & CO
421 Chertnut St
5s
Battle Creek Goal ft Ooke 6s
Oklahoma Gas ft Electric Preferred
C. H. FARNHAM
BUTTALO, ROCHESTER
44 Pine Street
American Power ft Lt. Oom. ft Pref.
Oklahoma Gas ft Elect. Oom. ft Pref.,
Helena Light ft Railway 5s
Detroit City Gas Gen. 5s
DEALER IN
and German
BALTIMORE
Telephone 3448 Main
SO Broad St.. N. Y
Central of Georgia Ry. Co., Chatta¬
nooga Div. 4s, 1951
Met. St. Ry. Co. Coll. 5s, 1997
Lex. Av. ft Pav. Fy. Ry. 1st
5s, 1993
_
STOCK
TO NET ABOUT
LAMARCHE A COADY,
25
“Rights’:
Members of Baltimore Stock
Boston
A PREFERRED
fraction Co. Stocks
Tel. 5775-6 Broad.
71
Specialists in Inactive Bonds
Tri-City Railway ft Light Co. Stocks
We have good markets in unlisted and
inactive
securities and respectfully invite inquiries.
116 So. 5th St..
H. C. Spiller & Co.
Street, New York
Pacific Gas ft Electric Co. Common
Amer. Gas ft Electric Co. Stocks
FOR SALE
American Express
Wells Fargo Express
Wells Fargo Express
Stockton (Cal.) Water Co. 6s
Omaha Water Co. Stocks
Spring Valley Water Co. 4s
Knoxville Water Co. 4J^s & 6s
97 State street
Adams Express
United States Express
Tel. 6744 Hanover
;
Hallowell & Henry
WANTED
G
New Hampshire Elec. Ry. Stocks
So. Yuba (Cal.) Water Co. 6s
1,000 U. S. Light. ft Heating Com.
25,000 Southern Ind. 1st 4s, 1951
WE MAKE A SPECIALTY OF
EXPRESS STOCKS
LOUISVILLE. KY.
Tallahassee (Fla.) Water Co. 6s
Utah Light & Power Co. 4s & 5s
Peoria Water Co. 4s
Albion (N. Y.) Water Co. 6s
Elmira Water, Lt. & RR. 5s
50
Amer. District Telegraph (N. J.)
Amer. Typefounders Pref. ft Oom
Bush Terminal Go.
Columbian National Life Ins. Go.
100 du Pont Powder Co. Com.
100 Federal Sugar Pfd.
100 Ingersoll-Rand Com. & Pfd.
M
WANTED
For Sale
Albany Trust
34 PINE STREET
FOR SALE
Lehigh Valley Term. 5s,
Oct. 1941
N. Y.
Susq. ft W. Term. 5s,
May 1943
W. E. R. SMITH & CO.,
10 Broad Street
-
-
New York
Jam. 8
THE CHRONICLE
1910.]
gtaat&clal.
IX
gittstucial.
If you
wish to secure an income of
5% to 8% investing in securities of
the following companies, write us.
We make a specialty of trading in
them.
Fork St Hoe Co.
Qrand
THE MISSOURI PACIFIC RAHWAYCO.
Rapid* Edison Co
Amer. das St Elec. Co.
Or. Rap.-Musk. Pow. Co.
American
III. Tract. Co.A Sub. Co’s.
Hornby Co.
TREASURER’S OFFICE.
195 BROADWAY.
Am.Laun dryMach .Mfg.Co. Indiana A Mich. Elec. Co.
A. H. OALEF, Treasurer.
American Seeding
Mach .Co. Kansas City Stock Yds. Co.
Atchison Ry. Lt. A P. Co. Lansing Fuel A Oas Co.
Beatrice Creamery Co.
Menominee A Marinette
Benton Harbor A St. Joe
Light A Tree. Co.
Oas A Fuel Co.
Met. Oas A Electric Co.
Brandon Elec. Light Co.
Michigan State Tel. Co.
Michigan United Rys. Co.
Carlisle Pennell Lumber Co. Nat. Cash Register Co.
Pioneer Tel. A Tel. Co.
Chicago Lumber A Coal Co. Roberts. Johnson ARandCo.
Chic. A MUw. Elect. RR.
Rocky Mt. Bell Tel. Co.
Commonwealth Power Co. St. Louis Car Co.
Continental Sugar Co.
Topeka Edison Co.
Cumberland Tel. A Tel. Co. Topeka Railway Co.
Detroit Edison Co.
Tri-City Ry. A Light Co.
Duluth Sup. Traction Co. Western Rys. A Light Co.
Qlobe Wernicke Co.
A Sub. Co’s.
Zenith Furnace Co.
Buying
or
fractional warrant will be Issued for such fraction.
On the back of these warrants will be two forms:
The first Is to be filled out and signed by tbs
stockholders or by their assigns, in case they desire to subscribe.
The second form, which is an
assignment, is to be filled out and signed by the stockholders only in case they desire to dispose of
their subscription privilege.
'
Stockholders who may wish to subscribe for a portion of the bonds covered by a warrant and
dispose of the balance of the subscription privilege, or who may wish to dispose of a portion of tbs
subscription privilege covered by the warrant to one person and the balance to another, should return
their warrants to this office on or before January 14, 1910, to be spilt up Into warrants for the desired
amounts.
Warrants so returned should be accompanied by a statement in writing specifying tbs
number of warrants desired In exchange and the amount of bonds to be oovered by each.
The price of subscription, payable in New York funds, is:
$950 per $1,000 bond, with accrued interest adjusted.
$475 per $500 bond, with accrued interest adjusted.
Such price will be payable at the office of the Guaranty Trust Company of New York. 28 Nassan
Street, New York City, in installments as follows:
selling orders solicited.
R. H. GOODELL & CO..
BROKERS.
122 Monroe Street,
a resolution of the Board of Directors, adopted November 10, 1909, and subject
approval of the Stockholders, for the purpose of securing which approval a special meeting
has been called to convene January 18, 1910, the privilege will be given to stockholders of this Com¬
pany to subscribe upon the terms and conditions hereinafter stated, on or before January 21, 1912,
for an amount of Convertible Five Per Cent First and Refunding Mortgage Fifty-Year Gold Bonds,
equal in face amount to thirty-six per cent (38%) of the par value of their respective holdings of tho
stock of this Company, as registered on its books, at three o’clock P. M., on December 8, 1002.
Warrants signed by the Treasurer or an Assistant Treasurer will be issued to stockholders as soon
as possible after the closing of the books on December 8, 1909, specifying the amount of bonds fot
which each stockholder Is entitled to subscribe.
Such subscription warrants will be issued only fit
amounts of $500, or in multiples thereof.
For each fraction or a $500 bond for which a stockholder
Is entitled to subscribe, a fractional warrant will be issued, which, if presented on or before January 14;
1910, with other fractional warrants aggregating $500, will be exchangeable for a subscription warrant
for a $500 bond: and If the surrendered fractional warrants include a fraction In excess of $500, a new
Pursuant to
to the
Calgary Water Power Co.
Central Coal A Coke Co.
NEW YORK, N. Y.. November 17, 1000.
TO THE STOCKHOLDERS OF THE MISSOURI PACIFIC RAILWAY COMPANY:
Chicago.
-
T. W. STEPHENS & 00.
BANKERS
S WALL STREET,
MEW YORK*
INVESTMENT
Interest allowed
Individuals and
on
BONDS
accounts of
Corporations
Dvt
„—..1928
$50,000 St. Louis City 4s
25.000 St. Joseph, Mo., School 4a
..1028
25,000 United Rys. (St. Louis) Gen. 4a..—1084
25,000 Alton-Granlte A St. L. Traction 58.1044
25.000 Miss. Glass Co. (St. L.) First 5s
1024
25,000 Gaston County. N. C., 4s
1038
25,000 St. Louis Transit 58
1024
25,000 Morris A Co. First 4Hs
1030
50,000 Fort Worth, Texas, School 4
1040
15,000 Alton Railway A Elect. 5s
1030
10,000 California Gas A Elect. 5s
1937
50,000 Huekina Realty 6s
1018-24
50,000 Frisco General Lien 5s
1927
20,000 Frisco Equip. 5s
1018-10
(Guar, by American Car A Foundry Go.)
FRANCIS, BRO. & CO.
At the time of making subscription, on or
ary
On
On
or
or
Per
Per
$1,000 bond.
$500 bond.
$350
$300
$300
$175
before Janu¬
21. 1910
before March 4. 1910
before April 15, 1910
$150
$150
Subscriptions may be paid for in full at the time of making subscription, on or before Januaryfll,
1910, in which case the amount payable will be $944 44 per $1,000 bond or $472 22 per $500 bendt
or, after the payment of the first installment on or before January 21, 1910, as above provided, tho
remainder of the subscription may be paid in full on or before March 4.1910, by paying $528 20.per
$1,000 bond or $299 10 per $500 bond.
Bonds will be issued with coupons maturing September 1. 1210, attached, and the foregoins
payments include an adjustment of accrued interest • March 1, 1210.
The warrants must be surrendered to the Guaranty Trust Company of New York by the stoefe*
holders, or by the persons to whom assigned, on or before January 21, 1910, accompanied by tho
payment to said trust company, as depositary, of the first installment: and all warrants not so sm*
rendered with snch payment on or before said date shall be void and of no value.
Failure to pay the second or third Installments when and as payable will operate as a forfeiture
of all rights In respect of the subscription and the Installments previously paid.
The Guaranty Trust Company of New York will, on surrender of the warrants and payment •
the first installment. Issue receipts which will be transferable by delivery and which must be presented
to the Guaranty Trust Company of New York upon the payment of the second and third installments
in order that such payment may be noted thereon.
Fractions desired by stockholders to complete full bonds, or fractions which stockholders desire
to dispose of, must be bought or sold in the market, as the Company will not buy or sell fractions.
Full-paid receipts for bonds will be exchangeable for the engraved bonds as soon as Issued.
No subscription or assignment of this privilege will be recognized unless made on the forms of
the Company.
No stockholder of the Company shall be entitled to any of the above-mentioned bonds unless ths
terms of subscription herein specified are fully complied with.
The subscription and respective installment payments must be made to the Guaranty Trust
Company of New York. 28 Nassau Street. New York City, at the dates and in accordance with the
provisions stated above. Checks or drafts in payment or subscriptions must be drawn in favor of
Guaranty Trust Company of New York, in New York funds, and for the exact amounts covereng
the respective installments.
By order of the Board of Directors,
A. H. CALEF. Treasurer.
P. S.—A statement giving details of the First and Refunding Mortgage Fifty-Year Gold Bonds
and of the security therefor will be furnished upon application at the office of the Railway Company
(Established 10779
214 North 4th Street, ST. LOUIS
Denver & North Western 5s & Stock
Denver Tramway Sinking Fund, 1933. 5s
Denver Con. Tramway. 1933. 5s
Denver Tramway. 1919, 5s
Denver Gas & Elec. 5s
Denver Gas Stock
Denver Union Water Securities
Colo. Telephone Co. Stock
U. S. Red. & Ref. 6s
Nevada-Calif. Power Co. Securities •
$50 OOO
ATLANTIC COAST LINE RAILROAD
Due November ist, 1939
4% Convertible Bonds
W. O. PACKARD
DENVER. COLO
414 Cooper Bldg.,
common stock between January
15th, 1910, and January 15th, 1920, at 135.
Price at market.
(About 103 and interest.)
Convertible into
THE AMERICAN MFG
CO.
Circular
on
MANILA, SISAL AND JUTS
CORDAGE.
65 Wall Stmt,
COLSTON, BOYCE & COMPANY,
WEBB & CO.
299 BROADWAY, NEW YORK
INVESTMENT SECURITIES
INVESTMENT SECURITIES
BOUGHT AND SOLD
Baltimore
Naw York
George I. Hovey & Co.
74 BROADWAY
Application
-
-
-
BIRD 8. COLER
LEONARD H, HOLE*
W. N. COLER & CO.,
BANKERS
s
NEW YORK
Commission Orders Executed
43 CEDAR ST- NEW YORK.
INVESTMENTS.
X,THE CHRONICLE
[VOL.
ta)mnits.
gittKttCiKl.
The First National Bank of Chicago
Statement of Oondition
at Close of Business December
31, 1909.
ASSETS.
V
Loans and Discounts
Less Discount to Maturity at 5%
United States
United States
Other Bonds
National Safe
$69,820,333 32
524,294 10
Bonds to
secure
Circulation
Bonds to
secure
U. S.
qSSSKidld§r”fi“d- }»»,000.000 00
Deposits
2,982,000
250,000
7,236,027
1,262,000
Deposits
.
00
00
37
00
Branches
S4 GALIANO
Hand
Due from United States Treasurer
MATANZA3.
SANTIAGO.
CIENFUEGOS.
OAIBARIBN,
.
$21,321,404
3,838,431
19,354,398
859,100
68
88
26
00
PINAR DEL
NEW YORK AGENCY—1 WALL ST.
CeOectiena
45,373,334 82
a
Specialty.
Sale Depesitary fer the Funds ef the RepufcBc et
Cuba. United States Depesitary In Cuba.
LIABILITIES.
Capital Stock Paid in
Surplus Fund
SAGUA LA GRANDE
CAM AGUE Y,
sanctx spxhrrus.
Rfo.
GAMAJUANI.
SANTA CLARA,
$126,399,401 41
Gable Address—Banoenao.
$8,000,000 00
;
8,000,000
241,904
240,000
718,000
Other Undivided Profits
Dividend No. Ill, payable December 31, 1909
Special Deposit of United States Bonds
Circulating Notes Received
on
ST.. HAVANA,
m MONTS ST.. HAVANA.
GARDEN AS.
GUANTANAMO.
Exchange)
16,000,000 00
-6,200,000 00
-
HEAD OFFICE—HAVANA
MANZANILLO.
on
Less Amount
-
-
$69,296,039 22
CASH RESOURCES—
Cash
NATIONAL BANK
OF CUBA
Cosh in Vaults
(market value)
Deposit Co. Stock (Bank Building)
Due from Banks (Eastern
Checks for Clearing House
LXXXX
00
88
00
Oo
GUARANTEED STOCKS
Tax-Exempt
$2,981,997 50
Hand
0 00
2,981,997,50
Taxes, 1909
Deposits
TO YIELD 4% TO 6.26%
List
209,333 07
106,008,165 96
$126,399,401 41
Request
EFFINGHAM LAWRENCE & CO.
OFFICERS
JAMES B.
on
BANKERS
FORGAN, President
Members New York Stock Exchange
HOWARD H. HITCHCOCK, Vice-President
111 BROADWAY. N. Y. CITY
FRANK O.
WETMORE, Vice-President
AUGUST BLUM, Vice-President
CHARLES N. GILLETT, Cashier
A. B. Leach & Co.,
First Trust and
Savings Bank
BANKERS,
Statement of Oondition at Close of Business December
31, 1909.
Broadway, NEW YORK
140 Dearborn St., CHICAGO
ASSETS
Bonds
Time Loans with Collateral Security
Demand Loans with Collateral Security
Cash and Due from Banks
149
$17,321,912 91
13,513,714 53
$9,822,053 99
10,168,305 60
28 State St., BOSTON
Chestnut A 4th
19,990,359 59
St., PHII* A DELPHI!
$60,826,987 03
LIABILITIES
Capital Stock Paid in
Surplus Fund.
$2,000,000 00
2,500,000 00
589,624 98
Undivided Profits
Reserved for Interest and Taxes
Time Certificates of Deposit
135,254 40
Savings Deposits
Demand Certificates of
General
Deposit
Deposits
$5,321,603 32
26,758,766 86
32,080,370 18
$270,231 98
13,250,505 49
13,520,737 47
6% CAREY ACT BONDS
Attractive Issue, Well-Secured and
Very Desirable
Send for Illustrated Circular,
Particulars and Prices
D. ARTHUR BOWMAN
$60,826,987 03 Third Nat Bank
Bldg.
ST. LOUIS, MO.
OFFICERS
JAMES B.
FORGAN, President
BOISOT, Vice-President
LOUIS BOISOT, Trust Officer
ROBERT D. FORGAN, Treasurer
DAVID V. WEBSTER, Secretary
BURT C. HARDENBROOK,
Manager Bond Dept.
FRANK M. GORDON, Assistant
Manager Bond Dept.
EMILE K.
(The stock of [this bank is owned by the stockholders of The First
National Bank of Chicago and every director is a director, of that
bank.)
She &0Wtvnmmt j^x/emratorat
P. O. BOX IT. MAIN OFFICE
WASHINGTON. D. C.
OFFICIAL ORGAN OF THE ASSOCIATION OF
AMERICAN GOVERNMENT ACCOUNTANTS.
A MONTHLY MAGAZINE OF INTEREST TO
ACCOUNTING AND FINANCIAL OFFICERS
OF MUNICIPALITIES. BANKS. RAILWAYS
AND OTHER PUBLIC SERVICE OORPO-
ATIONS.
Combined deposits of both banks Dec. 31,
1909, $161,609,273 61
Combined deposits of both banks Dec. 31,
1908, $143,296,724 14
TO.BE FOUNDER ALL LEADING CERTIFIED
PUBLIC ACCOUNTANTS' OFFICES.
Sample Copy 16 cents. Per Annum tlJO
Jan. 8
1910.]
THE CHRONICLE
XI
®otnpxnits.
OLD COLONY
TRUST CO.
STATEMENT OP CONDITION
BOSTON, MASS.
Capital and Surplus,
-
5^7,500,00*
MAIN OFFICE
42
Authorised Reserve Agent lor Trust
Companies of Maine. Rhode Island and
Massachusetts.
BOARD OF DIRECTORS
T. Jefferson Ooolldge Jr.. Chairman.
Gordon Abbott
Robert F Herrick;
Oliver Ames,
Henry S. Howe;
O. W. Amory,
Wa'ter HunneweU;
Thomas L. Livermore;
Charles F. Ayer.
Samuel Carr.
Charles S Mellon.'
B. P Cheney,
Laurenoe Minot'
T. Jefferson Ooolldge,
Richard Oiney.
Charles B. Costing.
Robert T. Paine 2d,
PhiUp Y. DeNormandie. Philip L SaitonstaO.
Herbert M Sears.
Philip Dexter.
Frederic 0. Dumaine
Nathaniel Thayer;
Frederick P. Fish
Lucius Tuttle.
Reginald Foster
Stephen M. Weld,
Charles W Whittier.
George P. Gardner
The NEW ENGLAND
TRUST COMPANY,
BRANCH OFFICES
487 Fifth Avenue, N. Y.
242 G. Houston Street, N.
Y.
FOREIGN OFFICE
9 New Broad
Street, London, E. C.
AT THE CLOSE OF BUSINESS DECEMBER 31, J909.
RESOURCES.
N. Y. State Bonds
N. Y. City Bonds
First Mortgages on N. Y. City
Real Estate
Other Stocks and Bonds
Time Loans and Bills Purchased.
Vault and Fixtures
Demand Loans....
Cash on Hand and in Banks
Accrued Interest Receivable
LIABILITIES.
r
3344,606 25 Capital
405,173 75 [Surplus and Undivided Profits
I Reserved for Taxes
767,368 17 Dividend payable December
734,577 50
1009
3,487,341 77 DEPOSITS
50,000 00 Accrued Interest Payable
8,051,012 71
5,702,966 22
117,220 37
-
_
51,00<ff000
8,657 0#
31,
50,000 00
17,507,650 68
12,451 32
CAMPARATIVE STATEMENT OF DEPOSITS
BOSTON, MASS
December
31, 1907
6,421,510 76
13,425,117 61
17,507,650 53
December 31, 1908.
December 31, 1909
Authorised to act as Executor, and to receive
and hold money or property In trust or on deposit
from Courts of Law or Equity Executors
THIS JCOMPANY IS THE FISCAL AGENT OF THE STATE OF
NEW YORK FOR THE SALE OF STOCK TRANSFER TAX STAMPS
UtrlLcKa
DAVID R. WHITNEY. President
CHARLES F. CHOATE. Vice-President
ALEXANDER COCHRANE, Vice-President
NATHANIEL THAYER. Vloe-Presldent
JAMES R. HOOPER. Actuary
HENRY N. MARR, Secretary
FRED. W. ALLEN. Asst. See. A Trees
THOMAS E. EATON. Asst. Trees.
FRANCIS R. JEWETT. Trust Office,
CHAS. E. NOTT. Mgr. Safe Dep. Vita
BOARD OF DIRECTORS
WUl lam Endioott, Chairman
The
Trust
Company of America
37-43 WALL
.
Walter O. Baylles
Alfred Bbwdlteh
S. Parker Bremer,
James G. Freeman
Morris Gray
James R. Hooper
Ernest Lovering
Timothy E. Byrnes
Charles P. Choate
Alexander Cochrane
William Endioott Jr
Francis W. Fabyan
William Farnsworth
Frederick P. Fish
95 Grisham St.'
CAPITAL AND SURPLUS $8,000,000
Tames M. Prendergas
Herbert M Sean
Lawrence M. Stock tot
Philip Dexter
LONDON OFFICEi
Broadway, New York.
Hoary H. Proctor
George Dekter
STREET, NEW YORK.
COLONIAL BRANCHi
222
Invites accounts of individuals, firms and
Nathaniel Thayer
Eugene V. R. Thayer
David R Whitney
Pays interest
on daily
Executes trusts of every
Geor*e Wlggiesworth
corporations.
balances.
description.
financial.
We
beg to advise that the undersigned
a co-partnership under the
style of
have formed
firm
SCHALK, BARNWELL & GO.
MELLON NATIONAL BANK
succeeding to the business of Schalk,
Barnwell & Raymond, from which Mr.
Harold N. Raymond has withdrawn.
Respectfully,
RUDOLPH SCHALK,
PITTSBURGH
Offers
ive terms
trust
ARTHUR BARNWELL Jr.
Member N. Y. Stock Exchange
WALTER KUTZLEB,
ALEXANDER CAMERON Jr.
December 31 1909.
A. W.
perfect service
to
on very attrac-
other banks, bankers and
companies.
MELLON, Prest.
W. S. MITCHELL, Cashier
INVESTED CAPITAL $6,800,000
We beg. to announce that Mr. SYDNEY A.
LAWTON has this day become a member of
our
firm.
WRENN BROS. & CO.
Jan. 1. lMO.
Sbutnetal.
Wilkinson, Reckitt, Williams & Co.
BATTERY PARK NATIONAL BANK
CERTIFIED PUBLIC ACCOUNTANTS
TWO MOADWAY (Nw Exch. BMs.)
iMppfaf Mid Expert Aaoauata Invited
CAPITAL AMD SURPLUS, MOOA—
LAN LMUL Frost.
RDWD1 B. PAY Oashter.
R. T. Wilson & Co.
Beakers A Oemmiss&ea Marohaafts
Si WALL STRUT
-
•
NEW VMM
NEW YORK
4t Broadway
CHICAGO
PHILADELPHIA
Marquette Bid*.
MutuabLIfe Bid*.
LONDON, ENGLAND
L.adenhall
00
1,081,507 20
519.660.266 74
510.660.266 74
CAPITAL. $1,000400
SURPLUS. *1.000.000
Safe Deposit Vaults
Administrators, Assignees, Guardians, Trustees,
Corporations and Individuals.
Also acts as Trustee under Mortgages and as
Transfer Agent and Registrar of Stocks and Bonds
Interest allowed on Deposits Subject to Check.
BROADWAY, NEW YORK
Bldg*.
THE CHRONICLE
XU
[VOL. LXXXX
Qvnst (&0mpKui»s.
©jcmxjratxie«.
60
Lincoln Trust Company
ALEXANDER S. WEBB JR:, President
and Transfer of Stock.
A legal Depositary for Court Funds, and author¬
ized to act as Executor, Guardian. Ad¬
ministrator and Trustee.
DIRECTORS.
business Dec. 31, 1909.
LIABILITIES.
»
Cash in Vault
$1,421,857 99 Capital
Cash in Banks
1,848.144 08 Surplus
Demand Loans on Collateral-1,982.526 01 Undivided Profits
Time Loans on Collateral
2,736,150 00 Reserved for Taxes and
Bills Purchased
2,482,898 10
pense
Bonds, Market Value
2,142,004 75 Deposits
Stocks, Market Value
353,300 00
Bonds and Mortgages
1,071,244 43
Rents Receivable
2,041 66
Accrued Interest Receivable-39,501 21
—
$1,000,000 00
500,000 00
56,731 00
Ex¬
-
5,300 00
12,517,637 23
-
$14,079,668 23
$14,079,668 23
DIRECTORS
W. D.TBALDWIN
GEORGE O. BOLDT
GEORGE O. CLARK
WILLIAM G. CONKLIN
ROBERT E. DOWLING
STUART DUNCAN
WILLIAM FELSINGER
ROBERT GOELET
SAMUEL V. HOFFMAN
ABRAM M. HYATT
ARTHUR ISELIN
BRADISH JOHNSON
CLARENCE H. KELSEY
W. DE LANCEY KOUNTZE
GEORGE LEASK
WILLIAM. G. McADOO
JOHN P. MUNN, M.D.
JAMES QUINLAN
IRVING E. RAYMOND
WILLIAM {SALOMON
B. AYMAR SANDS
ISAAC N. SELIGMAN
LOUIS STERN
SAMUEL D. STYLES
FRANK TILFORD
OWEN WARD
ALEXANDER S.WEBB JR.
BROADWAY & LISPENARD ST.
BROADWAY
FREDERIC P. DAVIS, Manager.
NELSON
F.
&
72D
GRIFFIN.
$4,000,000
-
-
MASS.
Transacts a General Trust and
Banking Business
Interest Allowed on Deposits Snbjoct to Check.
Acts ns Trustee under Railroad and other Mort¬
gages! also as Agent for the Registering
ABRAM M. HYATT, Vice-President.
OWEN WARD, Vice-President.
HORACE F. POOR, Treasurer.
JOSEPH Z. BRAY, Secretary.
BRECEENRIDOE CARROLL. Assistant Treasurer.
condition at the close of
BOSTON. MASS.
BUNKER HILL BRANCH:
Capital & Surplus,
OFFICERS
ASSETS.
8TATB STREET.
<*ty Sawn, CHARLESTOWN
208 FIFTH AVENUE
Statement of
CO.
TRUST
CITY
PHILIP STOCKTON. President.
Chariot F. Adams 2d
George E. Keith,
F. Lothrop Ames.
Gardiner M. Lana
William Amory,
Arthur Lyman.
John S. Bartlett,
Maxwell Norman,
Charles E. dotting.
Robert T. Paine 2d.
Alvah Crocker,
Andrew W Preston.
■
Richard S. RusselL
George A. Draper.
W llam F. Draper.
Quincy A. Shaw
Wllmot R. Evans.
Howard Stockton.
Frederick P. Fish.
Charles A. Stone.
Edwin Farnham, Greene Galen L. Stone,
Robert F. Herrick
Nathaniel Thayer.
Francis L Hlgglnson,
Henry O. Underwood.
Henry C. Jackson
Sidney W. Winslow.
Boston Safe
Trust
Company
BOSTON, MASS.
ST.
Manager.
Deposit
AND
Transacts
General
a
Trust
and
Banking Business*
Interest Allowed
STATEMENT
OF
THE
Title Guarantee & Trust Co.
176
350
AT CLOSE OF BUSINESS DECEMBER 31. 1909.
Broadway, MANHATTAN.
Fulton Street, JAMAICA.
196 Montague St., y
RESOURCES.
Bonds (market
value $461,000)
Other Stocks and Bonds (market
value $5,056,119 11).
Bonds and Mortgages
Bills Purchased
Banking Houses, New York, Brook¬
lyn and Jamaica
LIABILITIES.
CapitalSurplus. Earned
Undivided Profits
Amount due Depositors
4,718,35154
9,828,829 84 Certified checks
2,914,444 15 Treasurer’s Checks
1,973,241 29
201,391 53
230,855 44
Other Real Estate
Accounts Receivable
Overdrafts
Accrued Interest
Time Loans on Collateral
Demand Loans on Collateral
Cash In Banks
Cash In Vaults
_*
Suspense
$440,100 00
$4,375,000 00
9,625,000 00
218,226 54
26,355,280 56
662,720 62
817,590 04
85,038 70
46,953 75
18,149 87
Reserved for Taxes
Accrued Interest
Accrued Expenses
—
40
40
04
70
18
00
$42,203,760 18
Charles A. Peabody.
William H. Porter,
Frederick Potter,
Charles Richardson.
Edgar L. Marston,
William J. Matheson,
Charles Matlack.
William A. Nash,
William H. Nichols.
Robert Olyphant,
Henry Roth,
James Speyer,
Sanford H. Steele,
Paul M. Warburg,
Ellis D. Williams,
Louis Windmulier.
The
Washington Trust Company
OF THE
POSTAL TELEGRAPH
CITY OF NEW YORE
BUILDING, 253 BROADWAY, NEW YORK.
Statement at the close of business December 31,1909.
RESOURCES.
N. Y. City Bonds (market value)
$410,680 00
Bonds and mortgages on N. Y.City
Real Estate
628,058 33
Railroad and Corporation Bonds
1,270,962 50
Railroad and Corporation Notes
531,000 00
Sundry Stocks
632,557 50
Loans on collateral security
6,157,850 00
Bills purchased
353,719 25
Cash In Vault
$1,273,466 56
Cash In Banks
688,715 00
1,962,181 56
Accrued Interest.
92,914 53
_ _
Capital Stock
1,000,000 00
Undivided Profits
Deposits
Reserved for Taxes
Interest Accrued
Dividend payable January 3, 1910-
73 S
£3
25,000 00
J i
^
FRANCIS H. PAGE Second Vice-President
HINEAS C. LOUNSBURY, Vice-President
l. F. PRICE, Assistant Secretary
M. S. LOTT, Secretary
Q. W. TOE^GE, Second Assistant Secre ary
TRUSTEES
Geo. Austin Morrison,
Carl Schefer,
William A. Putnam,
Joseph C. Baldwin,
Charles M. Clark,
George F. Vietor,
Clarence W. Seamans,
George W. Jenkins,
William Carroll.
SAFE
315,082 45
10,162,558 10
8,000 00
29,283 12
$12,039,923 67
RGEORGE AUSTIN MORRISON, Vice-President
Henry J. S.^Hall,
Cyrus P. Brown. President.
Arthur L. Kelley, Vice-President.
H. Martin Brown, Vice-President.
Otis Everett, Vice-President.
Joshua M. Addeman, Vice-President.
Waldo M. Place, Treasurer
Ward E. Smith. Asst. Treasurer.
Chas. H. Manchester, Secretary.
H. Howard Pepper, Asst. Secy.
Frederick B. Wilcox, Auditov
BOARD OF DIRECTORS.
Samuel P Colt
Elbrldge T. Gerry
Chas. C. Harrington
Olney T. Inman
William R. Dupee
Louis H. Comstock
Warren O. Arnold
Herbert N. Fenner
Richard A. Robertson
J. Milton Payne
Joshua M. Addeman
Eben N. Littlefield
James M. Scott
Otis Everett
C. Prescott Knight
William H. Perry
Arthur L. KeUey
Jesse H. Metcalf
H. Martin Brown
John J. Watson Jr.
Charles H. Allen
Levi P. Morton
John B. Branch
George F. Baker
WllHam P. Chapin
Henry A. C. Taylor
George M. Thornton
Angus McLeod
Cyrus P. Brown
$500,000 00
Surplus fund
DAVID M. MORRISON president
William Whiting,
$3,000,000
3,000,000
LIABILITIES
$12,039,923 67
Charles H. Russell,
Phineas C. Lounsbury,
David M. Morrison,
Seth E. Thomas,
Lucius K. Wllmerding,
—
OFFICERS.
James D. Lynch,
Ranald H. Macdonald,
James H. Manning,
Woodbury Langdon,
CHARLES E. ROGERSON. President.
James Longley
George R. White
Costello C. Converse
Henry S. Shaw
Edward W. Hutchins
Gerard C. Tobey
Nathaniel J. Rust
James R. Dunbar
Frank G. Webster
Elwyn G. Preston
Arthur F. Estabrook
Richard M. SaltonstaU
William B. Rloe
Jerome Jones
Nehemlah W. Rice
George B. Wilbur
Charles F. Fairbanks
Nathaniel F. Ayer
Wallace L. Pierce
Richard C. Humphreys
John W. Farwell
George W. Wheelwright
O. Minot Weld
William H. Wellington
Providence* R. I.
TRUSTEES.
Frank Bailey,
Edward T. Bedford,
Charles S. Brown,
Julien T. Davies,
Augustus D. Juilliard,
Martin Joost.
Clarence H. Kelsey,
$1,000 000
2 000,000
CAPITAL
SURPLUS
$42,203,760 18
John Jacob Astor,
Capital ...
Surplus (Earned)
Industrial Trust Company
336 67
333,876
5,012,763
8,552,087
4,539,970
3,456,512
1,000
Deposits. Subject to Check,
as
DIRECTORS.
JIf ^ St^eet>(BROOKLYN.
City’ of New York
on
Trustee under Railroad and other
Mortgages.and is authorized to act as Executor,
Guardian, Administrator and Trustee
Acts
DEPOSIT
VAULTS
Francis H. Page,
William Barbour,
John P. Munn,
George Gray Ward,
Robert A. Drysdale,
The Trust Company
of North America
603-505-507 Chestnut St.,
Philadelphia.
CAPITA!
$1,000,000
ADAM A.
STULL. President
HENRY a BRENOLE, 1st Vtce-Pres. A Treasurer.
JOS. S. CLARK, 2d Vloe-Pree., Superv** Trust Dept
CHAS, P.LINEAWEAVER, Sec. & TrustOfllcer
DIRECTORS.
Henry G. Brengle,
James Crosby Brown.
John Cadwalader
E. W Clark Jr.,
Eckley B. Coxe Jr,.
Edwin S. Dixon,
Eugene L. Ellison,'
Joseph C. Fraley ■
Harry C. Francis,
Henry L. Gaw, Jr„’
Howard S. Graham.'
Snrt’Tipi F
IniiRtvlu
J. covering Jones.
Malcolm Lloyd,
John
Mcllhenny,
Wain Mein,'
Richard
Clement
John W
W llam
B. Newboidj
Pepper,
F. Read,
Frank Samuel,
Adam A. Stull,
Edward D. Toland;
Joseph R, Wainwrlght
William D. Wl
%
Jan.
THE CHRONICLE
81910.]
Qxn&t ®jrnipuits.
Qxnzt (&#mpKuUz.
Mississippi Valiev Trust Co.
STATEMENT OF
Fourth ft Pine 8ts., St. Louis
%
XIH
CAPITAL, SURPLUS
I go 4AA Ann
and PROFITS! v#of«JU,UW
GENERAL
FINANCIAL
AND FIDUCIARY
BUSINESS TRANSACTED.
THE MERCANTILE TRUST COMPANY
DIRECTORS.
John I. Bern. President Milwaukee Light Heat is
120 BROADWAY, NEW YORK
Traction Co.
Wilbur F. Boyle. Boyle & Priest.
James E. Brock. Secretary.
August A. Busch, Vice-President Anheuser-Busch
Brewing Association.
Murray Carleton. President Carleten Dry GoodsCo.
Charles Clark.
Horatio N. Davis. President Smith A Davis Mfg.Co.
John D. Davis. Vice-President.
Auguste B. Ewing.
David R. Frauds, Francis. Bro. & Co.
August Qehner, President German-AmerlcanBank
S. E. Hoffman, Vice-President.
A
_
^
At the
„
_
Breckinridge Jones. President.
Wm. 0. Lackey. Vice-President and Bond Officer.
Opening of Business January 1, 1910
ASSETS
Bonds and Stocks
.*
Bonds and Mortgagss
Cash on Hand
Cash on Deposit]
Leans on Collateral
Miscellaneous
311,467,533 50
2,382,500 00
5.344.300 93
4,171,526 86
44.343,897 87
444,857 81
LIABILITIES.
Capital Stock
Surplus
Undivided Profits
Reserve
DEPOSITS
-
$68,154,616 47
W. McLeod,
St,elMoLeod
v.-Pres.Vice-President
Haskell A BarkerGraysonCar Co.
J. McBride.
Lumber Co.
32.000.000
7,000.000
300,509
890.000
58.464.106
00
00
57
00
90
$68,154,616 47
son
Saunders
Norvell,
President
Hardware Co.
fm. D.J.Orthwein,
Sobert
O'Reilly, M.
D.
President
Grain Co.
Norvell-Shapleigh
Wm. D. Orthwein
Henry W. Peters, President Peters Shoe Co.
Pierce, Chairman Board Waters-PlerceOllCo.
August Schlafly, August Schlafly d» Sons.
H. C.
OFFICERS
JOHN T. TERRY. Vice-President
GUY RICHARDS, Secretary
BETHUNE W. JONES. Assistant Secretary
WILLIAM C.
POILLON, Vice-President
HAROLD B. THORNE, Treasurer
GEORGE W. BENTON, Assistant Treasurer
HORACE E. DEUBLER. Auditor
ISAAC MICHAELS. Trust Officer
R. H. Stockton, President Majestic Mfg. Co.
Julius S. Walsh, Chairman of the Board.
Rolla Wells.
Rhode Island Hospital
Trust Company,
PROVIDENCE, R. I.
CAPITAL
12,000.000
12.000,000
SURPLUS
DIRECTORS.
Royal C. Taft,
Howard O. St urges,
Robert H. I. Goddard, Stephen O. Metcalf,
Robert I. Gammell,
Walter R. Callender,
William B. Weeden,
Edward D. Pearce,
Robert Knight,
John W. Danielson.
Herbert J. Wells,
Lyman B. Golf,
Rowland G. Hazard,
Nelson W. Aldrich,
Samuel R. Dorrance,
United States
Mortgage & Trust Company
Broadway & 73d St.
Edward Holbrook,
James E. Sullivan,
Benjamin M. Jackson,
John R. Freeman,
Charles S. Mellen,
Robert W. Taft,
Webster Knight,
Stephen O. Edwards,
Frank W. Matteson,
R. H. Ives Goddard Jr.
HERBERT J. WELLS, President.
EDWARD S. CLARK. Vice-President.
HORATIO A. HUNT. Vice-President.
WILLIAM A. GAM WELL, Secretary.
PRESTON H. GARDNER. Trust Officer.
CYRUS E. LAPHAM, Asst. Sec’y.
JOHN E. WILLIAMS, Asst. Sec’y.
HENRY L. SLADER, Asst. Sec’y.
G. A. HARRINGTON, Asst.Tr.Offlcer
55 Cedar St
8th Ave. & I25th St.
Statement of Condition Dec. 31, 1909.
/
ASSETS
N. Y. City Mortgages
N. Y. City & State Bonds
Other Bonds & Stocks
Loans, Demand & Time
Bills Purchased
1
Cash on Hand
Cash In Bank
31,000,000 00
1,658,344
0,841,833
19,752,753
1,526,135
4,409,456
9,752,836
Foreign Exchange
884,473
Mortgages
9.427,929
Accrued Interest Receivable._
456,290
58
62
90
62
96
56
30
12
66
LIABILITIES
Capital
32,000,000 00
Surplus
4,000,000 00
Undivided Profits
Reserve for Taxes, etc
380,368
107,071
43,759,621
8,315,900
147,092
Deposits
Mortgage Trust Bonds
Accrued Interest Payable
358.710.054 32
68
57
58
00
49
358.710,054 32
OFFICERS
JOHNJW. PLATTEN
Girard Trust Company.
CAPITAL and
SURPLUS, $10,000,000
Secretary *
CHARTERED 1836.
Acts
First jVice-PresIdent
CALVERTJBREWER
Vice-President
FRANK J. PARSONS
.
T. W. B MIDDLETON
Ass’t Secretary
VICTOR EHRLICHER
Ass’t Secretary
Executor. Administrator, Trustee.
Assignee and Receiver,
Financial Agent for individuals or
as
Corporations,
Interest Allowed
Acts
on
Individual and
Corporation Accounts
Trustee of Corporation Mortgages
Depositary under Plans of Reorganization
Registrar and Transfer Agent
Assumes entire charge of Real Estate.
Safes to Rent in Burglar-Proof Vaults.
as
CARL G. RASMUS
>
Vice-President
JOSEPH ADAMS
w* Treasurer
HENRY L. SERVOSS
Ass’t Treasurer
HARRY W. HADLEY
Ass’t Treasurer
<1
m •]
m
1
m ? 1
"
'1
■'!
:
1
-!! ^
mm
DIRECTORS
C. A. Coffin
^Robert A.fGranniss
Thomas De Witt CuyierTCharles M. Hays
Charles D. Dickey m -SHenry R. Ickelheimer
William P. Dixon
William A. Jamison
Allen B. [Forbes
Gustav E..Kissel
Louis C. Krauthoff
Clarence H. Mackay
Robert Olyphant j
John W. Flatten
Moses Taylor Pyne
Mortimer L. Schiff
Eben B. Thomas
James Timpson
Arthur Turnbull
Cornelius Vanderbilt
E. B. MORRIS, President.
W. N. ELY, 1st Vice-President.
A. A. JACKSON, 2d Vice-President.
0. J. RHOADS. 3d Vlde-Pres. and Treasurer.
E. S. PAGE, Secretary.
MANAGERS:
Effingham B. Morris.
John A. Brown Jr-,
John B. Garrett,.
William H. Gaw,
Francis I. Go wen,
Geo. H. McFadden,
Henry Tat nail,
Edward J. Berwlnd,
Randal Morgan,
Edw. T. Stotesbury
Charles E. Ingersou,
John S. Jenks Jr..
Henry B. Coze.
E. C. Felton,
Israel W. Morris,
William T. Elliott
Isaac H. Clothier,
Thos. DeWltt Cuyler,
W Hlnckle Smith,
0. Hartman Kuhn,
James Speyer.
B. Dawson Coleman.
Broad and Chestnut Streets.
Guaranty Trust Co.
OF NEW YORK.
99 Nassau St., New York
3? Lombard
CAPITAL, $2,000,000
SURPLUS, $8,000,000
PHILADELPHIA
CENTRAL
TRUST COMPANY
OF ILLINOIS,
CHICAGO
Capital, • ■ • •
Surplus and Profits
•
•
$2,000,000
900,000
Statement at the dose of Business December 81, 1909
fRESOURCES
Bonds and Mortgages
Public Securities
Other Securities
Loans and Bills Purchased
Cash on Hand and in Bank
Foreign Exchange..
Accrued Interest and
Receivable
SAVINGS
LIABILITIES
3174,000
6,365,004
24,210,200
29,852,180
14,975,173
13,893.272
00
99
73
56
29
00
Accounts
Capital
Surplus
DEPARTMENTS.
(fa
.
Profits
Deposits
Accrued Interest Payable
Reserve for Taxes
Quarterly Dividend, 5%
8,000,000 00
605,151 74
79,509,948 68
161,495 96
58,000 00
100,000 00
964,764 81
ALEX. J. HEMPHILL, President.
MAX MAY. Vlce-Pres.
LEWIS B. FRANKLIN. Vice-Pres.
WM. C. EDWARDS, Treasurer.
AND TRUST
$2,000,000 00
Undivided
390,434.596 38
CHARLES G. DAWES. President.
W. IRVING OSBORNfe. Vice-President.
A. UHRLAUB, Vice-President,
WILLIAM R. DAWES. Cashier.
L. D. SKINNER. Asst. Oashier.
WILLIAM W. GATES. Asst. Oashier.
A. G. MAN Q Secretary
MALCOLM MoDOWELL, Asst. Secretary.
BANKING,
St., London, E. €
390,434,596 38
E. C.
F. C.
WM.
F.J.
HEBBARD, Secretary.
HARRIMAN, Asst. Treasurer.
F. H; KOELSCH. Asst. Sec’y.
H. SUTTON. Trust Officer.
W
nv
THE CHRONICLE
[Vol.
LXXXX
Jgwttst GompimUs.
Company
Central Trust Company of New York UnionOFTrust
NEW YORK
CHARTERED 1364
No. 54 WALL STREET
CAPITAL, $3,000,000
SURPLUS, $15,000,000
UNDIVIDED PROFITS, $942,745 34
Capital $1,000,000
Surplus (earned) $8,000,000
ALLOWS INTEREST ON DEPOSITS.
'
STATEMENT
showing its condition at the dose of business
Acts
as Executor, Guardian. Trustee. &c.
Administers “Institutional” and Other
the 31st day of Dec., 1909.
on
Fiduciary Trusts.
RESOURCES.
?.
- i
17
.
.
L
.
.
Hi
.
00
$51.000
00
307.890
00 2,931.122
00 21,375.445
L;i
fii
«
*
.
Amount
Cash in
Cash in
Accrued
.
.
.
.
loaned.on personal security, including bills purchased
Vault
.
Banks
Interest
[
LIABILITIES.
Capital stock subscribed and paid in cash
,
*
'
Undivided Profits
.
.
.
.
Deposits in trust and
demand
Other liabilities, not induded under
above heads, viz.:
Interest accrued
Taxes accrued
on
any
of the
....
.
.
Amos F. Eno,
Frederic deP. Foster,
Harrison E. Gawtry,
Robert W. Goelet.
Adrian Iselln Jr.,
„
62,454,196
834,148
11.055.924
8,785,908
692,385
25
67
90
55
41
Augustus W. Kelley,
H. Van R. Kennedy,
James Gore King,
W. Emlen Roosevelt,
N. Parker Shortrldge.
James Speyer,
John V. B. Thayer,
Charles H. Tweed,
Richard T. Wilson,
James T. Woodward.
William Woodward
OFFICERS.
AUGUSTUS W. KELLEY, Vice-President.
JOHN V. B. THAYER, Vlce-Prest. & Sec.
EDWARD R. MERRITT, Vice-President.
$110,552,642 07
Surplus
t
Amory S. Carhart.
Alex. S. Cochran,
$24,665.457 50
984.973 62
1.079,547 17
United ^States Stocks. Railroad Stocks and
Bonds, Miscellaneous Stocks and Bonds
v
TRUSTEES
Walter P. Bliss,
00
00
50
00
.
:•
4
Securities for Safe Keeping and
Collection of Income.
Estimated
Market Value.
Real Estate
Bonds and Mortgages
Amount loaned on collaterals, viz.:
!' T*
*
Par Value.
U. S. Registered 3% Bonds
$50.000
N. Y. State Registered 3% Bonds. 300.000
N. Y. City Stocks
2.974.000
Bonds and Stocks
23.057,800
l-i
Receives
STOCK INVESTMENTS.
■
•
r
60 BROADWAY
Branch 425 Fifth Avenue. Corner 38th Street
With Modern Safe Deposit Vaults
C. C. RAWLINGS, Trust Officer.
HENRY M. POPHAM, *
T. W. HARTSHORNE, l Asst.
Seo’ys.
HENRY M. MYRICK, J
$3,000,000 00
16.000,000 00
942,745 34
91,394,728 74
w
$120,394 35
94,673 64
...
215,067 99
$110,552,542 07
•Dividend payable January 1, 1910, charged to Profit and Loss and not Included In this
statement.
J. N. WALLACE. President,
E.IF. HYDE. Vice-President.
E. Q. MERRILL. Vice-President,
B. O. MITCHELL, Vice-President.
M. FERGUSON. Secretary.
D. OLCOTT, Vice-President,
F. B. SMIDT, Asst. Secretary.
BOARD OF TRUSTEES.
CHAS. LANIER,
A. D. JUILLIARD,
JAMES SPEYER,
HENRY D. BABCOCK,
SAMUEL THORNE,
ADRIAN ISELIN JR..
B. F. HYDE,
HENRY EVANS,
DUDLEY OLCOTT 2d.
Manhattan
GEO. MACCULLOCH MILLER,
CORNELIUS N. BLISS,
Trust
JAS. N. JARVTE.
WILLIAM A. READ,
JAMES N. WALLACE.
Company
FIDELITY
TRUST
COMPANY
OF NEW YORK
Irving Building,
corner
Chambers St. and West Broadway, N Y.
CONDENSED STATEMENT OF CONDITION CLOSE OF BUSINESS DEC. 31. 1909.
RESOURCES.
LIABILITIES.
Investments (book value $1,485,Capital
$750,000
714 41). Market Value
-$1,488,020 69
750.000
Surplus
Loans and Bills Purchased
5,212,222 61
Undivided
Profits
(book
value
terest accrued receivable
11,749 84
$169,177 79), Market Value
171,484
Furniture and Fixtures
10,000 00
Dividends Payable Dec. 81.1909.
30,000
Safes and Vaults
25,000 00
Reserve for Taxes
8,981
Cash on Hand and in Bank
1.573,121 61
Interest accrued payable
7.016
DEPOSITS
6.602.632
-
.
,
-
$8,320,114 75
NEW YORK
00
00
07
00
64
86
18
$8,320,114 75
President, SAMUEL S. CONOVER
Vice-Presidents: WM. H. BARNARD. JOHN W. MIX
Secretary, ANDREW H. MARS
Assistant Secretary. STEPHEN L. VIELE
Trust Officer. ARTHUR W. MELLEN
DEPOSITS
Dec.
fl907
31{1908
11909
DIVIDENDS PAID.
First Semi-Annual Dividend, 3%, Dec. 31,1908
Second
“
“
3%, July 31,1909
* - “
-'
Third
3%,
Dec. 31,19091
Extra Dividend
1%, Dec. 31,19Q9J.
$3,016,523 99
5,177,550 35
6.602.632 18
Wail Street, Corner Nassau
COMMENCED BUSINESS MAY 22. 1907
UNITED STATES
MORTGAGE A TRUST
00MPANT
NEW YORK
$22,500 00
22,600 00
30,000 00
$75,000 00
FULTON TRUST COMPANY
CAPITAL,
$2,000,000.00
Invites Personal and Business
Accounts. Acts as Trustee, Ex¬
Administrator, Guard¬
in AU Fiduciary
Capacities.
Certifies Muni¬
cipal and Corporation Bonds,
ecutor,
ian
OF NEW YORK
30 Nassau Street
SURPLUS,
$4,000,000.00
and
STATEMENT JANUARY 1 1910
RESOURCES.
Bondi and Mortgages
$572,500 00
Investment Securities (market val.) 2,002,017 58
Loans on Collaterals
4,725,154 88
Due from Trust Co’s, and Banks.
812,42117
Cash in Vault
1,096,279 84
Accrued interest
38,084 15
-
-
/
LIABILITIES.
»
Capital
$500,000 00
Surplus and undivided Profits
844,004 39
Deposits (2,211 accounts)
7,871,433 23
Unpaid Dividend No. 34
20 00
Dividend No. 35, payable Jan. 31910
25,000 00
Reserve for Taxes
Cedar tt
115th St. & 8th Ave.
6,000 00
$9,246,457 62
$9,246,457 62
HENRY C. SWORDS. President.
H* H. CAMMANN. Vice-President.
H. W. REIGHLEY, 2nd Vice-Pres. and Secretary
CHARLES M. VAN KLEBCK, Assistant Secretary.
55
73rd 8t St B’way
B. W.
Strassburger
Southern Investment SEouRmct.
MOMTGOMMMY, JLJLA.
Jam.
61910.]
THE CHRONICLE
xr
gmst €otttpvMi»s.
C. I. HUDSON * CO,
XHOORPOR4XSD 1863
Ho*. 34-36 WALL 8T., HEW YORK.
N««Nn New York and Chicago Stock Exchanges
TELEPHONES070 JOHN.
United States Trust Company
OF NEW YORK
Miscellaneous Securities
in all Markets.
Nos. 45 and 47 Wall Street
.
•
.
.
Capital,
.
$2,000,000.00
Surplus and Undivided Profits, 13,720,622 42
PRIVATE WIRES TO PRINCIPAL CITIES.
SIMON BORG & CO.,
STATEMENT
BANKERS.
Showing its condition
Members of New York Stock Exchange
Vo. 20 Nassau Street.
Now York
-
High-Grade
Investment
Securities
as
of the morning of the first daj of January, 1910
LIABILITIES.
RESOURCES.
Cash In Vault and in Banks
Real Estate
81S.4M.707
1.000.000
Bonds and Mortgages
3.563.750
Loans on Collaterals
47.366,182
BUIS Purchased
9,787.455
New York City and other Bonds
07
00
Capital Stock
Surplus
00
27
22
Undivided Profits
and Securities at market value,
being
MELLOR & PETRY
(Succeeding TOLAND BROS. & COJ
Stocks, Bonds, Investment Securities
104 SOUTH FIFTH ST.,
more
-
52.000.000 99
12.000.000 00
1,720.622 42
69.111,178 IS
Deposits In Trust
Interest Aocrued on Deposits
Rebate Interest on Bills Purchased
Reserved for Taxes
820.989 18
58,608 41
88.000 00
than the book value
thereof
Accrued Interest
11.170.960 00
451.370 71
$86,789,37617
$86,789,376 17
Dividend of Jan. 1 1910 (6500.000) charged to Profit and Loss, and not Included
In above statement.
Philadelphia
MEMBERS
EDWARD W. SHELDON. President.
NEW YOBK STOOK EXCHANGE
PHILADELPHIA STOCK EXCHANGE
WILLIAM M. KINGSLEY.Vice-President.
WILFRED J. WORCESTER, Asst. Secretary.
HENRY E. AHERN, Secretary.
CHARLES A. EDWARDS, 2d Asst. Secretary.
TRUSTEES
JOHN H. DAVIS * CO.
BANKERS AND BROKERS.
NO. 10 WALL STREET.
Members N.
Stock Exchanges.
Y. and Phila.
Orders for Stocks and Bonds executed upon all
Exchanges in this country and Europe.
Especial attention given to supplying high-das.
INVESTMENT SECURITIES.
Interest Allowed
on
JOHN A. STEWART. Chairman of the Board.
Gustav H. Schwab,
John J. Phelps,
Frank Lyman,
Lewis Cass Ledyard.
W. Bayard Cutting,
William Rockefeller,
Alexander E. Orr,
George F. Victor,
William H. Macy Jr.,
William D. Sloane.
James Stillman.
Lyman J. Gage,
Payne Whitney.
John Claflln.
Edward W. Sheldon.
Chaunoey Keep.
George L. Rives,
Arthur Curtiss James.
William M. Kingsley.
Deposits Subject to Checks
EFFINGHAM LAWRENCE & CO.
STATEKEHT OF THE
Ill BROADWAY. NEW YORK
Members N. Y. Stock Exchange
BANKERS. BROKERS
AND
Dealers in Investment Securities
Metropolitan Trust
Company
OF NEW YORK
OF THE CITY
AT THE CLOSE OF BUSINESS JANUARY 1ST. 1910.
LIABILITIES.
ASSETS.
Government Bonds *_
6100,000 00
Capital
New York City Bonds *
Surplus
1,584,100 00
Undivided Profits
New York State Bonds *
205.000 00
Other Stocks and Bonds *
2.629,180 00
Deposits
.
W. E. HUTTON & CO.
NEW YORK—CINCINNATI
IS Broad St.
Members New York Stock Exchange
Bonds and Stocks of Ohio
Companies.
Bonds and Mortgages
941,600 00
Loaned on Collaterals
25.648,015 52
Bills Purchased
807,470 58
Interest Accrued
887,702 60
Cash in Banks
52.687.857 21
Cash on Hand
8,232,182 56
...
*
T. J. mumvobd
Wm. VAHimnooK.
SECURITIES
2 WALL STRUT.
'
26,817,064 81
160,258 18
48,000 00
Reserve for Rent
6,760 00
Accepted Checks
1,006,824 80
5.920.039 77
$38,173,108 42
$38,173,108 42
Fahnestock & Co.
INVESTMENT
Reserve for Taxes
5.000,000 00
3.134,210 95
Market value.
Memb. E. Y. Stock Ex
BROKERS AND DEALERS IE
Interest Accrued
52.000,000 00
OFFICERS
BRAYTON IVES. President
ANTON A. RAVEN, Vice-President
GEORGE N. HARTMANN. Secretary
BEVERLY CHEW. 2d Vice-President
JAMES F. MCNAMARA. Tr%ut Officer
BERTRAM ORUGBR. Treasurer
RUPERT W. K. ANDERSON, Asst Treasurer
FREDERICK E. FRIED. Asst Secretary
LADD & TILTON BANK
OREGON
PORTLAND
Established 1859
Capital Fully Paid - - -'$1,000,000
Surplus and Undivided Pretits $600,000
OFFICERS:
W. M. Ladd, President. R. S. Howard Jr, Asst. Cash.
6. Geddagbam. Vy-Prss. 4. W. Ladd* Asst. Cashier.
W. H. Duncklejr, Cash. Walter M. cook, Asst. CashInterest paid on Tims Deposits sad Savings Amounts.
Accounts «f Banks, Finis, Corporadoes and ladhrlduals
sdldtad. Wo an prepared to famish depositors
ernry
fcdUty emutomt with good booking.
H. AMY A
CO.,
BANKERS,
Guardian Trust Company
OF NEW YORK
170
Statement of the Condition of the Guardian Trust Company
at the opening of business January 3rd, 1910
RESOURCES
Bonds and Mortgages..!
Stocks ana Bonds
Loans, Demand and Time
Real Estate.
.....
Furniture and Fixtures
Cash On Hand and in Banks..
tefiM Interest Receivable...—
44
and 46 Wall St, Nfcw York
INVESTMENT SECURITIES
Bills of Exchange.
Letters of Credit.
Broadway, New York
of New York
LIABILITIES
Capital Stock..
s 6500,000 00
Surplus and tfndlvided Profits.—.
512,782 96
2,122,566 72 Deposits ...
4,874,692 15
6250,120 00
485,902 94
22,000 00
18,000 00
Reserved for Taxes
1,100 00
1,844,227 81
89,722 62
65.892,582 11
65.892.682 11
THIS COMPANY IS AUTHORIZED TO ACT AS ADMINISTRATOR. ASSIGNEE. EXECUTOR;
GUARDIAN. REGISTRAR. TRUSTEE. RECEIVER. FISCAL AND TRANSFER AGENT.
xti
THE CHRONICLE
[VOL.
S*ixst QompKuits.
gitmtucial.
BANKERS TRUST COMPANY
7 WALL
ERVIN
Condition
on
December 81st. 1909.
'
as
BONDS
the State of New York
-
FOR
INVESTMENT.
Drexel Building, Philadelphia.
Long Distance Telephone No. L. D. 107.
RESOURCES
ocks and Bonds
lime Loans and Bills Purchased
Demand Loans
Cash on Hand and in Banks
Accrued Interest Receivable
Office Building
Exchange,
Exchange.
Phila elphia ttock
-
Reported to the Banking Departments
COMPANY,
New York Stock
Members
.
Js
BANKERS,
STREET, MEW YORK.
Condensed Statement of
LXXXX
813.648.004
22.369.061
10.186.069
16.086.441
209.618
96
64
82
47
09
266.167 26
-
862.749.848 IS
Thomas L. Manson & Oo.
STOCK BROKERS
Members N. Y. and Boston Stock
Exchanges.
LIABILITIES
Capital
Surplus
Undivided Profits
83.000.000 00
4.500,000 00
1.664.194 14
120.000 00
46,579,317 84
6.843.192 44
24.970 77
27.673 44
——
—
—
Dividend No. 23 (4%)
Deposits
-
Certified and other Outstanding Checks
Reserved for Interest on Deposits
Reserved for Taxes
-
71
Broadway,
Tel. 2500 Rector.
Private Wires to Boston. Hartford, New Haven
and Philadelphia.
Robert H. Allen.
862.749.348 13
DIRECTORS
STEPHEN BAKER.
Blair A Co., Bankers, N. Y.
SAMUEL Q. BAYNE.
EDWIN M BULKLEY.
Spencer Trask A Oo.. Bankers, N. Y.
JAMES 0. CANNON.
Yloe-Pres. Fourth National Bank. N. Y.
EDMUND C. CONVERSE.
President, New York.
HENRY P. DAVISON.
J. P. Morgan A Co., Bankers. N. Y.
WALTER B. FREW,
Ylee-Pree. Corn Exchange Bank, N. Y.
Street, New York
Members
N. Y. Stock Exchange.
Vice-President, N. Y.
EDWARD F. SWINNEY.
Pres. First National Bank. Kansas City.
JOHN F. THOMPSON.
New York
■VSMSJIftSSfcr.
Buk, OhlGRo.
A.I BARTON HEPBURN.
President Chase
<
National Bank. N. Y.
THOMAS W. LAMONT.
Vice-President First National Bank. N. Y.
OATES W. M’GARRAH.
President Mechanics’ National Bank. N. Y.
GILBERT Q. THORNE.
Vice-Pres. National Park Bank. N. Y.
EDWARD TOWNSEND.
Pres. Importers' A Traders*National Bank. N.Y
ALBERT H. WIGOIN.
Vice-Pres. Chase National Bank. N. Y.
SAMUEL WOOLVERTON.
President Gallatin National Bank. N. Y.
B. STRONG Jr., Vice-President.
F. I. KENT, Vice-President.
D. E. POMEROY, Vice-President.
F. N. B. CLOSE, Secretary.
H. F. WILSON Jr., Asst. Secretary.
DONOVAN, Treasurer.
George P. Schmidt
Frederic Gallatin Jr.
Albert JR. Gallatin
SCHMIDT & GALLATIN
111
Broadway
NEW YORK CITY
Members Phila. and New York
The New York Trust Company
Correspondents^Jark^Dodge A^Co.
Parkinson & Burr
STOCK BROKERS
Private wire between the two offices.
Information given In regard to all Boston Securi¬
ties and quotations furnished.
OTTO T. BANNARD, President.
Secretaries
J. S. Far lee.
BROKERS AND DEALERS IN
JOHN S. PHIPPS
E. PARMALEE PRENTICE
EDMUND D. RANDOLPH
NORMAN B. REAM 4
B. AYMAR SANDS 1
JOSEPH J. SLOCUM
JOHN W. STERLING
JAMES STILLMAN A
ERNST THALMANN
MYLES TIERNEY
Statement of Condition at the close of business December 31st, 1909
Collateral
INVESTMENT SECURITIES
11 WiLL iVRBBV. R8W YORK
Bills Purchased
Stocks and Bonds
(Market Value)
Bonds and Mortgages...
Interest Receivable
56 Capital Stock
$3,000,000 00
60 Surplus and Undivided
Profits
92
11,009,216 78
Deposits
62
61,486,440 60
Certified Cheques
2,123,438 33 Reserved for Taxes
443,328 74 Interest Payable
$66,909,595 77
1,200,957 20
72,000 00
140,981 29
$66,909,595 77
.
William Herbert & Co.
MEMBERSIN. Y. STOCK EXCHANGE
Hanover Bank
11 PINE
STREET,
E. A C.
LIABILITIES
$10,618,400
36,399,248
2,490,231
14,834,947
W. S. Tar bell.
S. FARLEE & CO.
J.
•
on
H. L. Finch.
MEMBERS NEW YORK STOCK EXCHANGE.
TRUSTEES.
Loans
Stock Exchanges.
deposits.
63 STATE STREET.
BOSTON.
Members New York and Boston Stock Exchanges.
MORTIMER N. BUCKNER,!
JAMES DODD,
1
FREDERICK J. HORNE,
J Vice-Presidents.
ARTHUR S. GIBBS, [Asst.
HERBERT W. MORSE, Secretary.
H. W. SHAW’
J
WALTER E. DRUMMOND, Treasurer.
Cash in Bank and Office
on
7 WALL STREET.
NEW YORK.
26 BROAD STREET
RESOURCES
CO.v
PHILADELPHIA
321 Chestnut Street,
New York
F. N. HOFFSTOT
ARTHUR CURTISS JAMES
FREDERIC B. JENNINGS
WALTER JENNINGS
CHAUNCEY KEEP
WOODBURY LANGDON
JOHN J. MITCHELL
JAMES PARMELEE
GEORGE W. PERKINS
&
bankers,
Interest allowed
OTTO T. BANNARD
S. READING BERTRON
JAMES A. BLAIR
JAMES C. COLGATE
ROBERT W. de FOREST
JOHN B. DENNIS
ELBERT H. GARY
JOSEPH P. GRACE
CHARLES W. HARKNESS
JAMES N. HILL
J. Prentice Kellogg ■
William A. Larned
Chas. H. Blair Jr.
E. W. CLARK
E. 0. CONVERSE, President.
H. W.
I Nassau
OEORGE W. PERKINS.
J. P. Morgan A Co., Bankers. N. Y.
WILLIAM H. PORTER.
Pres. Chemical National Bank. N. Y.
DANIEL Q. REID.
Vice-Pres. Liberty NationalJiank. N. Y.
BENJ. STRONG Jr..
Pres. Seaboard National Bank, N. Y.
Stanley D. McGraw.
William M. Vance.
ALLEN, McGRAW & 00.,
EDQAR L. MARSTON.
i. Bank
Pres.
Bai ‘ of the Manhattan Co., N. Y.
NEW YORK
-
-
Building
NEW YORK
RANDOLPH,
Members New York Stock Exchange.
Ill
Broadway, New York.
Open Market Securities Department
HORACE HATCH, Manager.
Dealers In Investment and Other Securities of the
United States and Canada.
W.
H.
Goadby & Co.
HANKERS AND BROKERS
NO. 74
.
BROADWAY, NEW YORK
Jah. 8
THE CHRONICLE
1910.]
XYXI
gituroxtal.
Smst Gampunt**.
Trowbridge & Co.
TRUST COMPANY
BANKERS
Members New York Stock
OF NEWYORK
Exchange
15 Nassau St.
Statement of Condition at Close of Business December 31, 1909
Bonds and Stocks
for Investment
NEW YORK
111
NEW HAVEN
Broadway
618 Fifth Ave.
134 Orange St.
ASSETS
Gash on Hand and in
Banks
$12,019,646 39
On Bond and Mortgage.. 2,719,000 00
Public Securities
1,634,827 41
Short-Term Investments 2,939,320 20
Other Bonds and Stocks. 12,610,383 62
Demand Loans
16,186,648 72
Time Loans
16,827,766 46
Accrued Interest Receiv¬
able and Other As¬
sets
T.TAHTT.imeg
Capital
Surplus
Undivided Profits
Deposits
Accepted Checks
Reserved lor Taxes and
Expenses
Accrued Interest
able and Other
bilities
84,439 81
Pay¬
Lia¬
310,180 29
660,027 87
$66,297,618 67
A. M. KIDDER & CO.
BANKERS
18 WALL STREET. NEW YORK.
Established 1866
MEMBERS OF N. Y. STOCK EXCHANGE.
Allow Interest on deposits subject to sight check.
Buy and sell on commission stocks and bonds, and
deal In
RAILROAD BONDS
GUARANTEEDJKTOOKS
OHARLES FEARON & 0 ).
BANKERS.
Orders Executed on all Leading
Stock Exchanges.
iianihmMembers.
-
H. MERCER WALKER. Treasurer
RICHARD R HUNTER. Assistant Secretary
HERMAN J. COOK. Assistant Treasurer
GEORGE M. STOLL. Assistant Treasurer
TRUSTEES
C. F. Adams 2nd
C. B. Alexander
Harry Bronner
U. H. Broughton
M. Hartley Dodge
John F. Dry den
Frederick W. Fufle
Lawrence L. Gillespie
R. C. Clowry
JEdwin Gould
F. R. Coudert
Paul D. Cravath
W. H. Crocker
T. De Witt Cuyier
William A. Day
L. F. Loree
Paul Morton
Ralph Peters
Winslow S. Pierce
Henry S. Redmond
T. H. Hubbard
E. T. Jeffery
Bradish Johnson
Lyman Rhoades
V. P.
Alvin W.
Snyder
William H. Taylor
Henry Rogers Winthrop
Otto H. Kahn
Krech
Fifth Avenue Trust Company
Fifth Avenue and
Forty-third Street,
NEW YORK, N. Y.
\Philadelphia Stock Exchange.
8t.,
$66,297,618 67
ALVIN W. KRECH. President
LAWRENCE L. GILLESPIE. Vice-President
FREDERICK W. FULLE. Vice-President
LYMAN RHOADES. Secretary
/ New York Stock Exchange.
333 Chestnut
$3,000,000 00
10,000,000 00
1,010,164 66
49,917,16311
976,690 81
PHILADELPHIA
STATEMENT DECEMBER 31, 1900.
Simpson, Pearce & Co.
Members New York Stock
Exchange
Telephones
111 BROADWAY
4400*1-2-3-4 Rector
NEWYORK
RESOURCES.
Stocks and Bonds
Loans. Demand
-
Loans. Time
Bonds and Mortgages
453.400 00
1314.104 34
50.000 00
2.350.876 80
1.173.607 18
Bills Purchased
Vault
Cash Reserve
Cash in Bank
Accrued Interest Receivable
McCURDY,
$5,961,347 SS
6.686.020 78
3.146.114 62
-
LIABILITIES.
Capital
Surplus
Undivided Profits
Reserved for Taxes
31.000,000
932.575
15.018
17.700.705
Deposits..
84 NASSAU STREET
320.7S8.29S 79
OFFICERS
LEVI P. MORTON. President.
WM. D. SLOANE. Vice-President.
CECIL D. LANDALE. 2nd Vice-President
JAMES M. PRATT. Secretary.
WALTER MEACHAM. Asst. Secretary.
MEMBERS H. T. STOCK EXCHANGE
Transact
General Banking and Stock
Exchange Basinets.
a
WANTED
Norman S. Walker Jr.
JohnT. G. Walker
Ex. Norton
WALKER BROS.
71
Broadway. N. Y.
Members N. Y. Stock Exchange
Bankers & Brokers
enry
Q. Campbell
Edwin P. Campbell
Jamee G. MaoLean
H. G.
Campbell & Co.
11 WALL STREET. NEW YORK
Members New York Stock Exchange
Securities
Bought A Sold on Commission
VICKERS a PHELPS
M Wall Stmt, New York City.
Members of New York Stock Exchange
BONDS
Cub orders
only in Mode, accepted
1862
Bank of America
Chase National Bank
Chemical National Bank
National City Bank
National Bank of Commerce
Com Exchange Bank
First National Bank
Fifth Avenue Bank
Hanover National Bank
Importers' A Traders' Nat. Bank
Manhattan Co. Bank
Mechanics9 National Bank
Mercantile National Bank
Merchants' National Bank
Bank of New York
National Park Bank
Phenix National Bank
American Surety Co.
Astor Trust Co.
Bankers' Trust Co.
Bond A Mortgage Guarantee Co.
M Wall Stmt, New York.
Members
V. Y. Stock lx.
Brooklyn Trust Co.
Equitable Trust Co.
Farmers' Loan A Trust Co.
Fifth Avenue Trust Co.
Guaranty Trust Co.
Knickerbocker Trust Co.
Lawyers' Mortgage Co.
Lawyers' Title Ins. A Tr. Co#]
Lincoln Trust Co.
Manhattan Trust Co.
Mercantile Trust Co.
’
Metropolitan Trust Co.
Morton Trust Co.
N. Y. Mortgage A Security
New York Trust Co.
__
Go#
~
.
iff
Standard Trust Co.
Title Guarantee A Trust Co.
Title Insurance Co.
-—a*.
Trust Co. of America
Union Trust Co.
\
U. S. Mortgage A Trust Co.
1910
CLINTON GILBERT
Jas. B. Coldate A Co.
Investment
Bonds.
2 Wall
Street,
8 83
102,922 71
320.738.293 79
HENDERSON & CO.
1.000,000
—
...
.
.
NEWYORK
THE CHRONICLE
XVIII
.LXXXX.
fgtttatuctal.
The
Company
of New Yoke.
CARNEGIE TRUST COMPANY
Condensed Statement of Condition
Reported
on
Dec* 3Jt J909
audit
as
**The Oldest and Foremost**
Banking Dept* of the State of New York.
JOSEPH B. REICHMANN, President.
to the
Home Office
City Investing Building
LIABILITIES.
RESOURCES.
$1,094.079 00
Cash on hand
Cash in bank..J 1,671,554 01— *3,665,634 81
State and City Bonds
1,874,425 80
Stocks and Bonds
1,964,330 60
Loans.
7,474,035 29
Real Estate
120,211 92
Capital
Surplus
Mortgages
Reserve for taxes
Accrued interest
488,000 00
142,000 00
Equipment
Accrued interest receivable
165
Broadway
Branches—Chicago, Philadelphia, Boston.
Pittsburgh. Atlanta
*1,500,000 00
-----
750,000
260,383
274,271
12,658,741
591,716
8,000
23,493
t:
■
Undivided profits
Certified checks
Deposits
Foreign exchange
payable
00
45
74
84
23
00
54
CONFIDENTIAL AUDITS, INVEST!
OPTIONS AND ENGINEER
337,059 38
ING APPRAISAL8
$16,066,606 80
*16,066,606 80
DIRECTORS.
DAVID HOMER BATES,
New York, N. Y.
New York, N. Y. SAMUEL H. KRESS,
y< Vice-President, Gamewell Fire Alarm Co.
President, S. H. Kress & Co.
ANSON W. BURCHARD,
New York, N. Y. LISTON L. LEWIS,
New York, N. Y.
General Electric Company.
Keener & Lewis.
WILLIAM J. CUMMINS,
•
Nashville, Tenn.
FREDERICK LEWISOHN,
New York, N. Y.
Stock Yards and Packing Houses.
Lewisohn Brothers, Bankers.
A. B. CHANDLER,
New York, N. Y.
Chairman Board of Directors, Postal Tele¬ CHARLES ARTHUR MOORE Jr.,
New York, N. Y.
graph Co.
Vice-President, Manning, Maxwell & Moore.
MARTIN J. CONDON,
New York, N. Y.
BERNARD F. O’NEIL,
President, American Snuff Co.
Wallace, Idaho.
GEORGE M. COURTS,
Banker.
Galveston, Texas.
President, Clarke & Courts.
JOSEPH B. REICHMANN,
New York, N. Y.
GEORGE D. CRABBS,
Cincinnati, Ohio.
President of the Company.
President, Philip Carey Manufacturing Co.
JACOB RUPPERT Jr.,
New York, N. Y.
JOHN CUDAHY,
Chicago, Ill.
President, Brewers’ Board of Trade.
Stock Yards and Packing Houses.
CHARLES M. SCHWAB,
New York, N. Y.
JAS. ROSS CURRAN,
New York, N. Y.
President, Bethlehem Steel Corporation.
Vice-President of the Company.
GEORGE
C.
SMITH,
CHARLES C. DICKINSON,
Pittsburgh, Pa.
New York, N. Y.
Westinghouse Interests.
WILLIAM A. KEENER,
New York, N. Y.
Late Justice Supreme Court, State of New JOHN B. STANCH FI ELD,
New York, N. Y.
York.
Attorney.
THE REPORTING OF INDISPUTABLE
FACTS
'
Pacific Coast Investments
We invite
inquiries from
Individual Investors and Brokers
( Traders’ National Bank
SPOKANE
BANK
REFERENCES
)
Old National Bank
v
Spokane and EasternTrustCo.
J Exchange National Bank
V Union Trust Company
Hanauer-Graves Co.
WASH.
SPOKANE,
THE PLAINFIELD TRUST COMPANY
PLAINFIELD, NEW JERSEY
and investors
Report (condensed)
as renderedrto the Department
State of New Jersey, December 31 1909
*
ASSETS.
RR. and other bonds (book value)
_
*580,475 36
[Market value, *593,730 50.]
.....
Bonds and Mortgages
Demand and Time Loans
Bills Purchased
438,800 00
488,935 00
1,061,830 89
85,000 00
12,320 47
Banking House..
Accrued Interest
Overdrafts
of Banking,
LIABILITIES.
_
Capital Stock
Surplus and Undivided Profits
BABSON’S
'
'
•••-
*100,000 00
202,501 58
4,249 15
Accrued Interest
bankers, broken
constantly before
have
them
‘
-
REPORTS
ON
•
■
Fundamental Conditions
Deposits—
Time
Demand
For
details concerning these Reports or our
’Business Barometers” (which we install in banks
both for their own and customers’ use) address
*1,015,641 78
1,799,562 16
None
Cash
The most conservative
454,592 95
2,815,203 94
*3.121.954 67
*3.121.954 67
Babson’s Compiling Offices, Wellesley Hills, Mass.
*>■*■>
'•
*•
'
*•*
t
N- M V,
‘
,
New York office, 33 Broadway
Largest Statistical Organization in the U. 8.
COMPARATIVE
*
1908.
Deposits
Surplus and Profits
Banking House....
;
1909.
$2,098,154 41
156,023 22
90,000 00
$2,815,203 94
202,501 58
85,000 00
Adrian H. Muller & Son,
AUCTIONEERS.
Regular Weekly
Sales
OB'
->ir
.
STOCKS and BONDS
The
Mortgage-Bond Company
of New York
59
EVERY WEDNESDAY
Office, No. 55 WILLIAI7I STBFOT,
!" •’'
Liberty Street, New York
'
€«»rher fine •*tre«i.
C. B. Van Nostrand
STATEMENT OF CONDITION JANUARY 1, 1910
36 WALL STREET
“
ASSETS
LIABILITIES
$5,433,2l1.43 Capital
Mortgages
U. S. and other Bonds
Interest Receivable..
Discount Account..
Cash.....
.........
=*
*2,000,000=00
408,000.00
If3,383.67j Mortgage
Certificates
692,180,0
Payable....
30,838.4
*5,318,332.23
t
*5,818,332.23
FI
r*
r-
a ‘j
OFFICERS
RICHARD M. HURD, President
COGGeSflAJUV'l T * » > *£fe*>* d'C&GGESJULL, Treasurer
JUUAN D, FAIRCHILD,
kvice-Presidents CECIL C. EVERS, Secretary
GEORGE 'A HURtt,*
* GURDON M. MAYNARt), Asst. Secretary
j
~
r r
y
.*
*
«-
*
s.
■
’
r
21,284.00 Surplus
97,350.46 Undivided Profits...
18,043,83 P. J. 6000HART & CO..
153,942.5 0 Mortgage-Bonds.... 2,608,700.0*
Bankers
Interest
iDWIN W.
INDUSTRIALS
•V BROADWAY
v
V
-
YO
SEW
-
«*
M
TWephone 2240 Hector
92S Whiaat St.. Cincinnati
Bank
(W3S
and’‘‘trust
Til*-? rr w
:
Co. Stocks.
nr " to
sRjsf:
c8*pk and Trust Company Stacks
TOP* AND BROOKLYN
BOtldHT
ttftD SOL#
ALL ST..
NE^
Jan. 8
1910.1
THE CHRONICLE
gmst ©orapattles.
IJrttst
MANHATTAN
TRVST
COMPANY
STATEMENT
At the close of business Dec. 31. 1909'.
RESOURCES.
New York State and City Bonds,
$1,169,543 19
620 SPRING STREET,
WEST HOBOKEN, N. J.
Collections..
Call
Loans
lateral
Time Loans
Stocks and
Bonds and Mortgages
Loans and Discounts
Real EstateAccrued Interest Receivable
Cash on Hand and In Bank
-
$5,099,667 92
5,339,347 00
3,041,462 39
390.000 00
142,825 85
1,510,880 32
LIABILITIES.
Capital Stock
Surplus
Undivided Profits.
$500.000
1,000,000
369,607
13,645,092
8,232
-
Deposits
Accrued Interest Payable
Other Liabilities
00
00
90
25
49
1,250 84
$15,524,183 48
23,420 93
4,808,406 00
Safe
13,618,591 07
on
STREET,
HOBOKEN, N. J.
$15,524,183 48
9,500 00
Col¬
on
51 NEWARK
STATEMENT DECEMBER 31 st, 1909.
RESOURCES.
Bonds
Corporate Bonds and
Stocks,market val.$4,775,485 07
Bonds and Mortgages
ffiompatiies.
Hudson Trust
j
market value
XU
Deposit Vaults of the Most Modern Construction.
Col¬
BOXES FROM $5 00 UPWARDS PER ANNUM.
lateral
1,255,600 00 14,874,191 07
Cash In Vault and Banks
10.904,513 03
Accrued Interest
54,265 44
OFFICERS.
GEO. W. BUTTS, Vice-President.
H. V. MEEKS, Vice-President.
JAS. R. FERENS, Treasurer.
$31,810,918 73
LIABILITIES.
Capital
$1,000,000 00
Surplus and Profits
2,430,706 36
Deposits
$26,918,643 77
Outstanding Checks 1,442,186 63 28,360,830 40
Reserved for accrued Interest and
taxes
19,381 97
$31,810,918 73
WALL STREET
CORNER NASSAV
MYLES TIERNEY, President.
_
E.
J. H. P. REILLY. Secretary.
F. W. HILLE. Assistant Treasurer.
A. T. PUPKE, Assistan
Secretary.
DIRECTORS.
Bradley Martin Jr.,
A. Stevens,
Myles Tierney,
Woodbury Langdon,
Geo. F. Sauer,
Wm. Braunsteln,
Jas. R. Fere ns,
Herman Simon,
J. H. P. Reilly,
Wm. Pierson Hamilton,
Geo. W. Butts,
Hamilton V. Meeks,
R. E. Galbraith,
Robert W. De Forest,
Henry W. De Forest,
Wm. Stewart T.;d,
John S. Mabon,
John A. Rosenbaum,
J. W. R. B sson,
J. C. Tierney.
Commercial Trust Company
ofNewJersey.
Hank Statements.
Opposite Penna. RR. Ferry,
Terminals,
Jersey City.
McAdoo Tunnel
Nineteenth Ward Bank
Statement at the Close of Business December 31, 1909.
WARNER M. VAN NORDEN, President.
THEODORE LANGDON VAN NORDEN,
Vice-President.
JOHN N. VAN PELT, Cashier.
ASSETS.
LIABILITIES.
Stocks and Bonds
Mortgages
Loans, Demand and Time
$3,812,876 54
2,282,850 00
5,072,210 04
914,715 85
881,427 61
:
69,997 88
3,493,092 17
1
Bills Purchased
January 1st, 1910.
Capital
Surplus and Profits.
Deposits
$300,000 00
403,412 75
!
.
Discounts
Investments
Cash
Accrued Interest
Cash ar.d due from Banks
7,869,821 98
Loans
Demand Loans
Banking House and Real Estate
$8,573,214
$417,757
2,437,991
1,067,308
77
COMPARATIVE STATEMENT.
Deposits, August 24, 1903
January 1, 1904
1, 1905
$1,529,469
1,751,236
3,087,923
4,097,282
4,321,333
5,235,537
5,637,681
7,869,821
“
‘*
"l, 1906
“
1, 1907
‘*1. 1908
1, 1909
1, 1910
'
"
“
10,000 00
--.13,349,309 81
$16,527,170 09
VAULTS.
ROBERT S.
ROSS.
“
62
92
89
HARDENBERGH, President.
Vice-President.
j WILLIAM J. FIELD. Secretary and Treasurer.
I
JAY S. PERKINS, Assistant Treasurer.
J. RICHARD TENNANT, Asst.
Frederick G. Bourne,
William Brlnkerhoff,
Jacob J. Detwiller,
Charles D. Dickey,
Willard C. Fisk
James G. Morgan,
John A. Middleton,
Moses Taylor Pyne,
Percy R. Pyne 2d,
Archibald O. Russell,
Robert S. Ross,
Edwin A. Stevens,
Myles Tierney,
Cornelius Vanderbilt;
John J. Voorhees,
George W. Young,
Augustus Zabriskle.
10
57
89
10
98
any
MORRISTOWN, NEW JERSEY
STATEMENT AT CLOSE OF BUSINESS DECEMBER 31, 1909.
fneelhxjjs.
SAMUEL FREEMAN, President.
OFFICE OF THE UNITED OAS IMPROVEMENT
Company, N. W. cor. Broad and Arch Sts.
Philadelphia, Deo. 9, 1909.
A special meeting of the Stockholders of the
United Gas Improvement Company will be held
at the office of the. Company* Northwest eprner
of
Broad
and
Arch
streets,
Philadelphia,
on
Wednesday, February 9.1910, at 12 o’clock noon,
for the purpose of acting upon the subject of? a
proposed increase in the authorised capital stock
of the Company from 1,009,467 shares, of the
par value of $50 each, to 1,110,414 sharee, of the
par value of $50 each.
By order of the Board of Directors.
W. F. DOUTHIRT. Secretary.
The stock transfer books will be closed from
3 p. m., January 28 1910, until 10 a, m., Feb¬
ruary 10 1910.
THE NATIONAL CITY BANK OP NEW YORK:
The annum meeting of the shareholders of this
bank, for the election of directors and the transao*
tion at such other business at may be brought
before It, win be held at Its banking house in
Wall Street on Tuesday, January II th, 1910. at
twelve o'clock noon..
A. KAVAHAQH; Oukler.
_
Secretary.
DIRECTORS.
Oscar L. Gubelman,
John W. Hardenbergh,
William B. Jenkins.
Clarence H. Kelsey,
David W. Lawrence.
James A. Macdonald,
Douglas Alexander,
"
Extra Dividend
Deposits
OFFICERS:
JOHN W.
4.650,156 89
“
Dividend
SAFE DEPOSIT
63
$8,573,214 73
Number of accounts, 20,529.
“
1,500.000 00
637,800 28
30,000 00
Undivided Profits
$16,527,170 09
73
2,837,934 17
4*
$1,000,000 00
...
$1,812,222 72
banks
“
Surplus
44
hand and In
on
Capital
RESOURCES
Bonds
Stocks
Loans
LIABILITIES
$4,116,149 00
388,050 00
2,417.357 05
-
Mortgages
289.625
Real Estate
106.973
Interest Accrued, &c
85.653
Due from Banks (Collections)..
2.800
Cash
2,353,314
-
—
...
00
47
97
18
Capital
-------
Surplus and Profits
Deposits
-
----
Certified Checks
Interest Accrued. &c
Due to Banks (Collections, Ac.)
—
Willard W. Cutter
Gustav E. Kissel
Richard A. McCurdy
James A. Webb
$9,709,423 58
DIRECTORS
G. G. Frelinghuysen
H. A. Hutchins
O. H. Kahn
John H. Capstick
Walter
G. Oak man
Henry F. Taylor
Louis A. Thebaud
,
6.135 00
43 11
8.576 98
91
$9,709,423 58
Samuel Freeman
$600.000 00
1,540.471 44
7.554.197 05
Samuel S. Dennis
Alexander H. Tiers
James N. Wallace
S. Minot Jones
D. Olcott
A. R. Whitney Jr.
Richard H. Williams
James B. Duke
Interest paid to depositors since organisation, Dee. 16,1892, $1,707,998 16
ALLOWS INTEREST ON DEPOSITS SUBJECT TO CHECK
PAYABLE IN NEW YORK FUNDS
y
[Vol. LXXXX.
THE CHRONICLE
XX
Htvi AtnAs.
grost ©jcrtnpatttcs.
THeTDENVER & RIOOR ANDER AILROA DCO.
(Consolidated).
a
Brooklyn Trust Company*
Mu-in Office: 177-179 Montague Street,
Branch: Bedford Ave. and Fulton St.
Manhattan office: Oor. Wall St.
and Broadway
Bonds and Stocks
Real Estate
Loans on Bond and Mortgage.
Overdrafts
1
Interest Accrued
Loans
Cash and Due from Banks
Capital Stock
304
176,162
8,958,306
3,433,368
TRUSTEES
HOWARD W. MAXWELL
WILLIS L. OGDEN
JOSEPH E. OWENS
JOHN J. PIERREPONT
CHARLES M. PRATT
GEORGE G. REYNOLDS
CHARLES A. SCHIEREN
EDWARD M. SHEPARD
J. H. WALBRIDGE
ALEXANDER M. WHITE
THOMAS T. BARR
SAMUEL W. BOOCOCK
GEORGE W. CHAUNCEY
WILLIAM N. DYKMAN
WILLIAM HESTER
FRANCIS L. HINE
WILLIAM A. JAMISON
DAVID H. LANMAN
FRANK LYMAN
Ottumwa Railway
F. BARNES
EDWARD LYONS
1910, to stockholders of
the close of business
January 19, 1910.
The Board also declared
from the undivided profits of the Company a
dividend of Two ana One-Half (2H) shares of
Common Stock on every one hundred (100) shares
of Common Stock outstanding, payable on or
before February 15, 1910, to stockholders of
record of Common Stock at the close of business
January 19, 1910.
The Transfer Books for both
payable
H. LANMAN, Vice-President
STANLEY W. HUSTED, Secretary
Kings County Trust Company
342, 344 & 346 Fulton Street
Preferred and Common Stock will close January
19, 1910, at 3 o’clock P. M., and will reopen
February 1, 1910, at 10
Office of
.
Roswell Eldridge,
Julian D. Fairchild.
CHICAGO.
The Board of Directors
LIABILITIES.
$500,000 00
1,500,000 00
Capital
Surplus
501,585 56
15,091,141 25
Undivided Profits (net)
Due DepositorsChecks Certified
Rebate on Loans and Bills
chased
Taxes and Expenses Accrued
Trust Checks Outstanding
50,853 65
Pur¬
17,681 43
16,000 00
2,795 69
lVi
Joseph Liebmann.
John McNamee,
D. W. McWilliams.
Henry A. Meyer,
Cord Meyer,
Charles A. O’Donohue.
Joseph P. Grace,
William Harkness,
Joseph Huber,
H. K. Knapp.
Whitman W. Kenyon
close of business
December 31st, 1909.
The Preferred Stock books
December 31st,
1909, and
Charles E. Perkins,
Dick S. Ramsay,
H. B. Scharmann,
W. M. Van Anden,
John J. Williams.
will be closed on
will re-open on
January 11th, 1910.
R. J. GRAF, Assistant Secretary.
Office of
COMPANY.
Engineers—Managers.
$17,680,057.58
TRUSTEES
of the
Oklahoma Gas & Electric Company
has declared a quarterly dividend of One and
Three-Quarters Per Cent upon the Preferred
Stock of this Company, payable by check Janu¬
ary 15th, 1910, to stockholders of record at the
H. M. BYLLESBY &
JULIAN D. FAIRCHILD. President.
THOMAS BLAKE, Secretary.
Vice-Presidents.
WILLIAM J.WASON Jr., Asst.Secretary
J. NORMAN CARPENTER. Trust Officer
Julian P. Fairchild,
John Arbuckle,
A. Abraham,
Walter E. Bedell.
Qeo. V. Brower.
COMPANY.
Engineers—Managers.
H. M. BYLLESBY &
$17,680,057.68
WILLIAM HARKNESS.
D. w. McWilliams,
JULIAN P. FAIRCHILD
o’clock A. M.
C. N. JELLIFFE, Secretary.
Business December 31st, 1909.
-
February 1,
record of Common Stock at
BOROUGH OF BROOKLYN
Cash on Hand
$1,565,474 95
Cash In Banks
1,102,440 81
New York City and Brooklyn Bonds
335,650 00
Other Stocks and Bonds
1.476,739 25
Bonds and Mortgages
— .
1,006,211 25
Loans on Collateral, Demand and
Time
* 9,988,436 44
Bills Purchased
1,873,705 91
Office Building
----210,000 00
Interest and Commissions Accrued.
121,398 97
and
Sany
ent (2%)
of Company,
the usual
dividend
Two Per
on the quarterly
Common Stock
of the
DAVID
RESOURCES.
& Light Company
quarterly dividend of One
AMERICAN LIGHT & TRACTION CO.
40 Wall St., New York City.
January 4, 1910.
!
The Board of Directors this day declared
from the Net Earnings of the Company the
i regular quarterly dividend of One and One-Half
! Per Cent (1H%) on the Preferred Stock of this
I Company, payable February 1, 1910, to stock! holders of record of Preferred Stock at the close
of business January 19, 1910.
The Board also
declared from the undivided profits of the Com-
OFFICERS
Statement at the Close of
a
H
Three-Quarters Per Cent upon the Preferred
Stock of this Company, payable by check Janu¬
ary 15, 1910, to stockholders of record as of the
close of business December 31st, 1909.
The Preferred Stock books will be closed on
i December 31st, 1909, and re-open on Janu¬
ary 11th, 1910.
R. J. GRAF, Secretary.
Committee—Bedford Branch.
WILLIAM McCARROLL
JOHN McNAMEE
THEODORE F. MILLER, President
SAMUEL W. BOOCOCK, Vice-President
declared
has
WILLIS D. WOOD
Advisory
EUGENE
117,545 85
68,218 32
50,000 00
$20,162,237 21
$20,162,237 21
THEODORE F. MILLER
16,584,592 32
Reserved for Taxes and Depre¬
ciation
:
Interest Accrued
Dividend due Jan. 3, 1910
COMPANY.
CHICAGO.
The Board of Directors of the
2,341,880 72
Deposits
01
30
64
22
AND ONB-
Engineers—Managers.
$1,000,000 00
-
Undivided Profits
1,254,3^0 00
_
of TWO
Office of
H. M. BYLLESBY &
LIABILITIES.
$6,229,705 85
110,090 19
dividend
semi-annual
HALF PER CENT (2H%) on the Preferred
stock of this Company, payable January 15th,
1910, to stockholders of record on December 24th,
1909.
The transfer books of the Preferred stock will
close at 3 o’clock p. m. on December 24th, 1909,
! and will re-open on the morning of January 5th,
I 1910.
STEPHEN LITTLE. Secretary.
STATEMENT, DECEMBER 31, 1909
RESOURCES.
.
,
195 Broadway, New York, December 2d, 1900.
The Board of Directors has this day declared
CHARTERED 1866.
CHICAGO.
The Board of Directors of the
San
Diego Consolidated Gas & Elec. Co.
a quarterly dividend of One and
has declared
Three-Quarters Per Cent upon the Preferred
Stock of this Company, payable by check Janu¬
ary 15th, 1910, to stockholders of record as of
the close of business December 31st, 1909.
The Preferred Stock books will be closed on
December 31st, 1909, and re-open on Janu¬
ary 11th, 1910.
R. J. GRAF, Assistant Secretary.
.
>
COMPANY, Incorporated.
Engineers—Contractors,
J. G. WHITE &
43-49 Exchange Place.
New York, N. Y.
The regular quarterly dividend (27th quarter)
of One and One-Half Per Cent has been declared
on the Preferred Stock of this Company, payable
Long Island Loan and Trust Company
Temple Bar, Brooklyn, New York
Capital, Surplus and Profits,
-
February 1, 1910, to stockholders of record Jan¬
uary 22,1910
H. S. COLLETTE, Secretary.
1
THE H. B. CLAFLIN COMPANY.
Church and Worth Streets.
New York. January 3, 1910.
Corner of
A
$3,185,834.26
quarterly dividend of Two Per Cent
will be paid January 15th, 1910,
Common Stock of this Company
day,1 January 13th, 1910.
D. N. FORCE,
Comparative Statement as of January I
RESOURCES—
Bonds and Stocks
Bonds and Mortgages
Real Estate
Loans, Demand and Time.
Cash In Banks and Office..
Interest Accrued
Overdrafts
Other Resources..-
LIABILITIES—
Capital Stock
Surplus
Undivided Profits
Dividend (January 2)
Due
Depositors
Certified Checks
Interest AccruedTaxes Accrued
Other Liabilities
1910.
$3,692,420 00
663,250 00
3,000 00
6,424,190 91
1,467,991 76
95,316 96
4 41
INTERNATIONAL PAPER CO.
1908.
$3,855,520 00
767,750 00
3,000 00
$2,831,980 00
802,000 00
5,369,872 07
4,369,785 00
1,041,716 92
92,104 96
1,246,931 25
91,721 00
76 07
Treasurer.
3,000 00
A dividend of ONE-HALF OF ONE PER
CENT on the Preferred Stock has been declared
closetoofpreferred
Eayable January 15th. 1910,
business StockJanu¬
olders of record at the
ary 6th, 1910.
Transfer
Cheoks mailed.
books will remain open.
E. W. HYDE, Secretary.
31 17
120,000 00
$12,346,174 04
$11,334,870 39
$9,260,618 05
$1,000,000 00
$1,000,000 00
1,000,000 00
$1,000,000 00
1,000,000 00
1,000,000 00
1,185,834 26
1,039,699 12
30,000 00
9,008,883 54
76,030 80
30,825 44
14,600 00
30,000 00
8,181,236 36
38,161 77
31,373 14
14,400 00
$12,346,174 04
$11,334,870 39
527,631
30,000
6,489,355
53,429
26,301
13,900
120,000
41
00
11
90
63
00
00
$9,260,618 05
OFFICERS
CLINTON L. ROSSITER. 1st Vice-President.
FREDERICK T. ALDRIDGE. Secretary.
■
CHARLES R. GAY. Asst. Secretary.
EDWARD MERRITT, President.
DAVID G. LEGGET. 2nd Vice-President.
WILLARD P. SCHENCK. Asst. Secretary.
1909.
(2%)
to holders of the
of record Thurs¬
Louisville & Nashville RR.Co.
6% THREE-YEAR GOLD NOTES
Due March 1st, 1910
Notice is hereby given that the Louisville &
Nashvllld Railroad Company will pay at the Office
of the Company, No.71 Broadway, New York City;
presentation, on and after this date, its Five
Three-Year Gold Notes, due March 1st,
1910, AT PAR AND ACCRUED INTEREST
TO DATE OF PAYMENT.
INTEREST on said Notes will CEASE ON
MARCH 1ST. 1910.
on
Per Cent
E. L. SMITHERS, Assistant Treasurer.
New York. January
5th. 1910.
.
THE CHRONICLE
•
;• •
;
81910.]
/
;
•
4
ui v
■
•
^^
.
JAN.
•
’
;
t
-
XXI
•
■
fflttaixelat.
$1,219,000
Co.
The Denver City Tramway
First and
Refunding Sinking Fund Mortgage
25- Year 5% Gold Bonds
Due November 1st, 1933
Dated November 1st, 1908.
Interest
and
payable May ls$ and November 1st at The Mercantile Trust Co.,
Authorized, $25,000,000; outstanding, $3,067,000
Present Issue to retire an equal amount of Prior Liens. Of the balance
$10,068,200 for additions and permanent improvements, at 85% of cost.
We summarize
as
follows
a
letter from William G. Evans,
New York, Trustee.
$11,864,801 are reserved to retire all other
!
bonds of the system,
City Tramway Company,
Esq, President of The Denver
copies of which letter may be obtained on application:
Company Incorporated in 1899, and operates the
Colorado, consisting of 223 miles of track.
entire street railway system of Denver,
Population served, 200,000.
197 miles of track within the city limits.
Franchises without time limit, which were in 1907 held by the United States Circuit
be valid at least until 1935, two years beyond the life of these bonds.
Secured by
Direct Mortgage
on
Court to
Cumulative Sinking Fund of one per cent. (1 %)of the par value of the bonds outstanding,
beginning November 1st, 1914, and payable annually to and including November 1st, 1923,
and tliere if ter at the rate of two per cent. (2%) per annum.
Bonds Reserved to retire all other bonds of the system, and, in addition, oyer $10,000,000 reserved to be issued at 85% of the cash cost of extensions and permanent improvements.
Followed
by $6,000,000 capital stock paying 8# per annum,
value of about
Earnings: For the
year
ended December 31st, 1909 (December partly estimated),
$1,690,546, and total charges $990,545,
were
leaving
a
Price 96& and interest.
CLARK, DODGE & GO.
61 WALL
and having a present market
$10,000,000.
surplus of $700,001.
net earnings
Yield 5/4%
INTERNATIONAL TRUST CO.
E. W. CLARK & 00.
DENVER
S21 CHESTNUT ST.
STREET
PHILADELPHIA.
COLORADO
NEW YORK
PA.
gittidm&s.
UNITED STATES RUBBER COMPANY.
42 Broadway, New York, Jan. 6, 1910.
The Board of Directors of the United States
Rubber Company has this day declared from Its
net profits a quarterly dividend of TWO PER
CENT on the First Preferred Stock (including all
outstanding old “Preferred” Stock), and a quar¬
terly dividend of ONE AND ONE-HALF PER
CENT on the Second Preferred Stock of this
Company, to stockholders of record at 12 o’clock
noon on Saturday, January 15, 1910, payable
January 31, 1910.
The transfer books for all classes of stock will
close at 12 o’clock noon on Saturday, January 15,
1910, and re-open at 10 o’clock a. in. on Wednes¬
day, February 2, 1910.
JOHN J. WATSON Jr. Treasurer.
PREFERRED STOCK DIVIDEND NO. 15.
Office of the
EAST ST. LOUIS &
SUBURBAN COMPANY.
The Board of Directors has
declared the regular
quarterly dividend of One and One-Quarter Per
Cent upon the Preferred Stock, payable Febru¬
ary 1st, 1910, to stockholders of record at the
(dose of business January 15th, 1910.
Checks
will be mailed.
G.
L.
ESTABROOK, Secretary.
THE KANSAS CITY SOUTHERN
RAILWAY COMPANY.
25 Broad Street, N. Y. City, Dec. 14, 1909.
A quarterly dividend of ONE (1%) PER CENT
has this day been declared upon the preferred
stock of this company from the surplus earnings
of the current fiscal year, payable on January 15th
1910, to stockholders of record at 3 o’clock P. M.
December 31st, 1909.
Checks for the dividend will be mailed to stock¬
holders at their last address furnished to the
transfer office.
R. B. SPERRY, Secretary.
UNITED FRUIT COMPANY
DIVIDEND NO. 42.
A quarterly dividend of TWO PER CENT on
the capital stock of this Company has been
declared payable January 15, 1910, at the office
of the Treasurer,
131 State Street. Boston,
Mass., to stockholders of record at the close of
business December 24, 1909.
CHARLES A. HUBBARD. Treasurer.
PITTSBURGH COAL COMPANY.
NO. 232 FIFTH AVENUE, PITTSBURGH, PA.
Dpppmhpr 90
E. I. DU PONT DE NEMOURS POWDER CO.
Wilmington, Del., November 24th, 1909.
■fFbe Board of Directors has this day declared a
dividend of 1 \i % on the Preferred stock of this
Company, payable January 25th, 1910, to stock¬
holders of record at dose of business on Saturday,
January 15th, 1910.
jut
^ALEXIS I. DU PONT, Secretary.
Dividend.—The
Board
of
Directors’
i qaq
of
AMERICAN TELEPHONE & TELEGRAPH CO
A Dividend of Two Dollars per share will b«
paid on Saturday, January 15th, 1910, to stock¬
holders of record at the close of business on
Friday, December 31, 1909.
WILLIAM R. DRIVER. Treasurer.
OFFICE OF THE UNITED GAS
Checks will be mailed.
LEWIS LILLIE, Treasurer.
GEO
(Signed) F. J. LEMOYNE, Secretary.
B. EDWARDS
BROKER AND COMMERCIAL AGENT
Negotiations, Investigations, ReportsJ
United States, Canada, or
Foreign!
Street.
NEW YORK. N. Y.
Tribune Building, 154 Nassau
Telephone 4218 Beekman,
OTTO JULIUS MERKEL
company
record January 10th, 1910.
IMPROVEMENT
Company, N. W. cor. Broad and Arch Sts.
Philadelphia, Dec. 8. 1909. ’
The Directors have this day declared a quar¬
terly dividend of two per cent (51 00 per share),
payable January 15, 1910, to stockholders of
record at the close of business December 31, 1909.
this
has this day declared a dividend of
ONE AND ONE-QUARTER (1 H) PER CENT
on the Preferred Stock from the earnings, pay¬
able January 25th,
1910. to stockholders of
*
KROKKK
M
% SO 45
WALL 8TRBKT, NEW YORK
INVESTMENT SECURITIES
Correspondence Invited. 1
XYT1
THE CHRONICLE
[VOL.
LXXXX.
g*itxaixcial.
$2,300,000
Iroquois Iron Company
(CHICAGO, ILL.)
FIRST MORTGAGE 5 PER CENT GOLD BONDS
Dated December 1 1909
Interest payable June 1 and December 1 in
Callable,
as a
whole
or
in part,
Coupon
or
on any
Due serially, December 1 1912 to 1929
Chicago and Boston
interest date
at 105 and interest
registered interchangeable bonds
Denominations, Coupon, $500 and $1,000; Registered, $1,000, $5,000 and $10,000
TRUSTEE, ILLINOIS TRUST & SAVINGS BANK, CHICAGO
Present issue
$2,300,000
60% of cost thereof, but
if
only net earnings for 12 months preceding are 2}^ times all first
mortgage interest charges
700,000
Reserved for future additions and extensions at
Total authorized
$3,000,000
The
Iroquois Iron Company, organized in 1899 under the laws of Illinois,
manufactures and sells pig iron. Its furnaces are on land owned
by the Company,
on the Calumet River in South
Chicago. The 29-acre tract on which new furnaces
will be built is
directly opposite the plants of the Illinois Steel Company and affords
ideal location.
From a letter of the President of the
Company, which will be sent upon request,
and to which we refer for details,
we summarize as follows :
1. First Mortgage on
property appraised by independent experts at
$7,321,128, or more than three times this issue.
an
2.
3.
Capital stock, $3,000,000, fully paid or subscribed for at par.
Annual net earnings last five years averaged 2.6 times interest
on these bonds.
Company has operated profitably through
several business depressions.
4.
With the proceeds of these bonds the
capacity of plant and
earning power will be more than doubled.
5.
Management is controlled by the Rogers, Brown & Co. interests,
who are probably the
largest dealers in pig iron in the world
and the largest owners and controllers of
independent furnaces
in the United States.
We offer the unsold
maturities, subject to sale, at
Prices to yield
per cent.
Lee, Higginson & Co.
New York
.
Boston
Chicago
I Hi nois Trust & Savings Bank
Chicago
Jan.
THE CHRONICLE
81910.]
xxiii
$4,000,000
Electric Illuminating Company
Cleveland
First
Mortgage 5% Gold Bonds
Due April 1 1939. Interest payable April 1 and October 1. In coupon form, $500 and $1,000 each. Principal may be
Redeemable on April 1 1924 at 107 V and interest, and thereafter, due notice being given, on any interest date at a price decreasing
of H of 1% yearly to maturity.
Authorized issue, $30,000,000. Outstanding. $4,000,000.
Dated April 1 1909.
registered.
at the rate
Of the $4,000,000 bonds outstanding, a sufficient amount will provide for the retirement of $1,700,000 first mortgage 5% bonds (old issueN
called for payment at 110 and interest on April 1 1910, and $1,500,000 first and general mortgage 6% bonds called for payment at 100 and in
terest on May 1 1910.
,
Having sold more than three-fourths of these bonds, we offer the balance, subject to sale, at
103 and interest, yielding about 4.80%
Holders of the old issue of first mortgage 5% bonds and the general mortgage 6% bonds, desiring to exchange
first mortgage 5% bonds, are requested to communicate with us.
We summarize the conditions
which
are
of prime Importance in determining the intrinsic value
A well-known and growing municipality, the population of the territory
be at least 525,000.
1.
the
same
for the new issue of
of the security:
served by the Company being conservatively estimated to
An established business of many years’ standing, with a large earning power of steady yet consistent growth.
The net in¬
for 1908, after payment of taxes and insurance, is reported as $802,388 08, equal to over four times the annual interest on the
$4,000,000 bonds of this issue now outstanding. The earnings to latest date show a substantial Increase over those for the same
2.
come
period of 1908.
3.
Experienced and capable management, combined with low capitalization. The property which the first mortgage 5% bonds
will cover shows a cost December 31 1908 of $8,310,729 11, which is more than twice the amount of the $4,000,000 bonds of this issue
now outstanding.
4.
The mortgage provides that beyond the first $5,000,000 bonds, additional bonds can be issued only to the extent of 80% of
the cost of improvements made or property acquired hereafter; and when issue is made of any part of the remaining $25,000,000
bonds, the net earnings for the preceding year shall be equal to at least twice the amount of the interest for one year on all of these
bonds outstanding, as well as upon the bonds then to be issued.
5.
Capital stock authorized, $6,500,000, of which there is at present issued $5,360,400. The Company’s property could not be
reproduced for its capitalization, including both stock and bondea indebtedness.
Franchises unlimited, both as to time and also as to the scope of the Company’s
6.
business in the local electric-lighting field.
A member of our firm is a Director of the Company, with the administration of which we have for many years been identified.
The preferred
and common stocks are held largely by discriminating investors who are clients of our firms
■
The legal proceedings and mortgage have been approved by Messrs. Squire, Sanders & Dempsey, Cleveland, Ohio, counsel for the Com¬
pany. and our attorneys, Messrs. Masten <fc Nichols, New York City.
The facts relating to these bonds are fully set forth in a letter furnished us by Mr. Samuel Scovll, the Vice-President and Treasurer of the
Company, copies of which will be furnished by us upon request.
We recommend the bonds as a sound investment.
BRANCH OFFICES:
ALBANY, N. Y.
BOSTON, Mass. CHICAGO, Ill.
Spencer Trask & Co.
William and Pine Sts.,
New York.
$650,000
CITY BONDS FOR
TRUST FUNDS
United Electric Company ot New
First Mortgage
Jersey
Four Per Cent Gold Bonds
DUE JUNE 1ST, 1949.
Interest payable June 1st and December 1st.
by the Public Service Corporation of New Jersey for 999 years from
DATED JUNE 1ST, 1899.
& CO
Leased
BANKERS
July 1st, 1907.
:-v>-
We
j&eaving St ©0.,
7 WALL STREET,
.
•
NEW YORK.
BANKEBS
Investment Securities
mntol
We will pay good prices for complete list of
stockholders of first-class gas and electric light,
power, railway, telephone and industrial corpo¬
rations located in Central and Western United
States and Canada. Replies held confidential.
R. H. G00DELL& CO.
by
our
counsel, Messrs. Shearman & Sterling, that under the
terms of the
lease,
s
the Public Service Corporation of New Jersey has directly assumed the payment
of the interest on these bonds, and has agreed to provide for the payment of
principal at maturity, by extension, refunding or otherwise, and that the
obligation as principal debtor thus assumed by the Public Service Corporation
of New Jersey is more direct and desirable than a mere guaranty by endorsement.
the
The terms of the FRANCHISES under which the
Company operates are
liberal, and IN ALMOST EVERY CASE PERPETUAL.
SECURED BY A FIRST LIEN ON ALL property now owned or to be
acquired by the Company, subject as to part of said property, to $705,000 prior
Year ended Nov. 30th:
Net earnings
Bond interest, excluding rental
1909.
1908.
1907.
$1,761,990
779,299
$1,539,089
779,310
$1,510,237
779,628
$982,691
$759,779
$730,609
Surplus
TAX EXEMPT IN NEW JERSEY.
YOUNG LADY wishes position as switch¬
board operator in down-town section.
Broker’s
office preferred.
Experience. 3 years in New
York Exchange.
Address, “R. J. L.,” care
Commercial & Financial Chronicle, P. O. Box 958,
New York City.
formally
senior
partner
position
of confidence in financial institution or trust
in wholesale commission firm, desires
*
|
1
Address R. Care of Financial Chronicle,
P. 0. Box 958, N. Y.
'
*
Price and description
>
■
on
+*
application.
Yield about
CLARK, DODGE & CO.
BANKERS
company.
■:.
CHICAGO
122 Monroe St„
retired,
advised
■;
bonds.
WANTED
Gentleman,
are
.;
1
NEW YORK
81 NASSAU STREET
•
M. GRANT
.
R.
SI Wall Street
New York
XXIV
THE CHRONICLE
[VOL.
LXXXX.
PERFECT SECURITY; LARGE YIELD
For
return.
twenty years we have specialized in the purchase and sale of safe investment bonds, yielding a large
During this period our clients have enjoyed larger incomes and profits, with equal or greater security,
over
than the holders of any
other class of bonds.
WE NOW OFFER WITH ABSOLUTE CONFIDENCE
$200,1
Mason City & Fort Dodge
An
1st 4s
underlying Chicago Great Western Ry. bond and
a
first lien
on
Due.
Interest.
To Vitld.
x955
J&D
4.62%
!933
M&S
4.88%
1947
A & O
5%
1938
F &A
5.12%
x955
J&J
5.10%
1955
J&J
5.12%
1949
A & O
5.40%
1955
M&S
7%
the
main line to Omaha.
$100,000
Seaboard Air Line,
Atlanta-Birmingham Div.
Underlying Seaboard Air Line and
Birmingham.
first mortgage
a
on
1st 4s
the main line
between Atlanta and
$50,000
New Mexico
Ry. & Coal (Phelps-Dodge System)
A first
mortgage main line bond.
interest charges.
$50,000
The road
about three times
Kansas & Colorado Pacific (Missouri Pacific)
An
underlying bond
on
1st 6s
main trans-continental line and branches in
System.
Kansas of the Missouri Pacific
$250,000
earns
1st 5s
■
Bush Terminal
Consolidated 5s
‘
f
.
Tax
exempt in New* York State.
by New York City real estate. The company is earning about
double interest charges and is rapidly growing in importance.
Secured
$250,000
Pere
Marquette RR. (Baltimore & Ohio System).... Ref. 4s
Interest
these bonds
paid promptly throughout the receivership
Marquette. For five months ending Nov. 30th, 1909, the
shows a surplus of $509,146.96 above all charges.
on
was
of the Pere
company
$150,000
Tampa & Jacksonville
A first
ing
$100,000
mortgage at $10,000 per mile
double interest charges.
on a
growing property,
now earn¬
over
O’Gara Coal
A first
■ J :
1st 5s
mortgage
Illinois.
Sinking Fund..
1st 5s
about 25,000 acres of the best coal land in Southern
important coal company on the New York
lines.
Earnings are largely in excess of interest charges.
on
This is the most
Central’s Western
SHORT-TIME INVESTMENTS
Due.
$150,000
Colorado-Utah Construction
$100,000
Delaware River Steel
A first lien
on a
Steel
-Secured and Guar. 6s
1st 6s
Company representing
an
May
Nov
ist 19 n
21st
’ii ’ 12
To Yield.
6%
6H%
outlay of five times this
mortgage.
Circulars
t
We maintain
are
describing
any
of the above issues
on
request.
of the
largest and most complete Statistical Departments in America, and its facilities
always at the disposal of our clients.
one
F. J. USMAN & CO.
30 BROAD
STREET, NEW YORK
Members New York Stock
Exchange
BRANCH OFFICES
PHILADELPHIA
830 Land Title
Building
BOSTON
22
Congress Street
HARTFORD
39 Pearl Street
BALTIMORE
706 American
Building
JAN. 8
1910.]
XXV
THE CHRONICLE
*
financial.
11VVESTMENT B«ON D S
WE OWN AND OFFER
Price to
MUNICIPAL BONDS
Amount.
Due.
Interest.
yield about.
J.
1939
3.85%
M. & N.
1949
3.85%
Montclair, N. J., School 4s (J.)
M. & N.
1939
3.87%
70,000
Danbury, Conn., Water Works 4s (C.)
J.
&
J.
1929
3.90%
50,000
Portland, Ore., Water Works 5s (Y. J. C.)
J.
&
J.
1923
4.00%
J.
&
J.
1923-54
4.25%
1949
4.60%
J.
Hoboken, N. J., Improvement 4s (Y. J. C.)
$100,000
Essex
50,000
100,000
County, N. J., Hospital 4s (J.)
San Francisco,
285,000
Cal., School & Mun. Impt. 5s (Y.
C.)
A. & O.
Galveston, Tex., G. F. & Drainage 4}^s
50,000
&
Price at
market to
RAILROAD BONDS
•
.
.
1
;
yield about.
\
.
..
J.
(Y. J. C.)
*$50,000
Central RR. of N. J. Gen. 5s
*200,000
Pennsylvania RR. Convert. 3J^s
&
1987
J.
3.85%
*
J.
& D.
1915
3.87%
J.
& D.
1930
4.00%
J.
&
J.
1921
4.35%
Norfolk & Western 1st & Gen. 4s
J.
&
J.
1944
4.40%
50,000
Austin & Northwestern RR. 1st 5s
J.
&
J.
1941
4.40%
75,000
Wisconsin Minn. & Pac. RR. First 4s.—
A. & O.
1950
*60,000
Chicago St. P. Minn. & Omaha Con. 6s
*80,000
North. Pac.-Grt. North. Joint
*100,000
(Y. J. C.)—
(C. B. & Q. Coll.) 4s
4.95%
jnnu
O'
Price at
market to
CORPORATION BONDS
$40,000
Capital Traction (Wash., D. C.) 1st 5s
35,000
Commonwealth Edison of
30,000
Pacific
30,000
West Penn
*100,000
30,000
100,000
300,000
40,000
100,000
yield about.
:
—
Chicago 1st 5s
J.
Railways 1st 5s..:._.
Tri-City Railway & Light 1st & Coll. 5s
1947
4.25%
M. &
S.
1943
4.85%
&
J.
1942
4.90%
A. & O.
1931
A. & O.
1923
5.00%
J.
Light & Power (G’t’d) 1st 5s
& D.
F.
& A.
1921-26
5.10%
Joaquin Light & Power 1st 5s..
California Gas & Elect. Unify. & Ref. 5s
J.
& D.
1945
5.18%
M. & N.
1937
5.25%
Monterey Light & Power 1st 6s
A. & O.
1929
Peoria
Railway First & Ref. 5s
San
for
J.
S. F. 6s
Savings
Banks
1937
& D.
any
office for complete circular AJ-34.
part of above, including
N. W.
Orders accepted, subject to prior sale, for aU or
single $1,000 bonds.
Reservations may be wired at our expense.
HALSEY & COBANKERS
NEW YORK
49 Wall Street
■■
CHICAGO
152 Monroe St.
PHILADELPHIA
1429 Chestnut St.
:
:
5.95%
r]
and Trust Funds.
Y.—New York. J.—New Jersey. 0.—Connecticut.
* Listed on New York Stock
Exchange.
Ask nearest
5.58%
"
Pacific Gas & Electric Deb. Mort.
Legal
■■■
4.95%
„
SAN FRANCISCO
424 California St.
■
'
"
XXVI
THE CHRONICLE
-
m»mm
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■
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■ ■
mmm
»■,«.
■
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—
[Vol.
^
•———
Cable Address:
—
—i~-i^ —i
~i
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lxxxx.
rijTj-<j-unjn^xrtj-\ruaruTrki>rvr^y%rtri^r^i^r»rLi-»r>o(->j~>r«rtj-«~L~L~»n-n-rtru~u‘iriJ~u~i«,xrxnj~
Cedes Used;
"Hontfbt” Chicago
Lleber and ABC 5th Edition
(Established 1865)
181 La Salle
Street,
CHICAGO
We carry at all times a conservative line of
high-grade Investment Securities, including:
CHICAGO REAL ESTATE MORTGAGES
In amounts of from
$10,000 to $100,000 each,secured upon valuable
improved Chicago Real Estate.
"Our judgment in such important
requirements as valuation of security, quality of improvements,
de¬
sirability of location and income value is the result of over forty years’ active and continuous
experience
in the Chicago field. Such
mortgages yield from 5 to 6%.
CHICAGO REAL ESTATE SERIAL GOLD BONDS
In denominations of $500 and $1,000
each, secured
Apartment Buildings, well-located Mercantile
Office
Buildings—a most convenient
or
by first mortgage
Manufacturing Buildings,
and desirable form of investment
or
upon
high-grade modern
large modem down-town
yielding from 5 to 6%.
RAILROAD, CAR EQUIPMENT AND TRACTION BONDS
H
•
•
'
.
Having behind them in
every case a substantial
margin of security, successful history, ample
Such bonds yield from
to 5J^%.
earnings and sound management.
STEAMSHIP BONDS
First
an
Mortgage Serial Bonds
secured upon modem Steel
enviable reputation in the investment market.
been unable to discover
are a
a
single instance of default
After
Steamships
most
a
in interest
or
on
the Great Lakes enjoy
searching investigation,
principal in such issues.
we
have
Such bonds
legal investment for Michigan Savings Banks and yield
5%.
INDUSTRIAL BONDS
Secured upon such staple natural
increasing in value, and which
are
so
protection of principal and interest.
long-established and
resources as
developed
is
as
to have ample
Also the bonds of well-known
successful histories.
large, and the bonded debt
Timber, Coal and Iron Ore Lands, which
increasing the value and safety of the investment from
year
annual
to year.
steadily
income-producing capacity for the
manufacturing corporations having
The margin of security in such bonds is
always payable in substantial
are
or
invariably
semi-annual amounts,
These bonds net from
5 to
very
thereby
6%.
SEND FOR DESCRIPTIVE CIRCULARS
NOTICE
We
are
in the market for entire issues of bonds of the
character indicated above.
cordially invited, and will
receive
our
prompt attention.
Offerings
are
mtimtma
VOL. 90.
JANUARY 8.1910.
CLEARINGS—FOR
December.
New York
Philadelphia
Pittsburgh-
-
-
Baltimore
Buffalo.
-
Albany
-
Washington
Rochester
Scranton
Syracuse
Reading
Wilmington
Wilkes-Barre
Wheeling
Harrisburg
--
-
-
-
-
_
_
--
,
--
-
_
-
•
_
Trenton*
York
Erie
*
9,906,738.805
746,864,279
233,604,007
145,55b ,28b
42,842,733
28,253,347
33,752,307
18,356,596
12,514,43 /
9,842,927
6,954,854
6,856,959
6,371,434
7,660,213
5,426,553
7,751,078
4,063,271
3,019,758
2,663,838
1,844,600
2,562,545
2,019,070
1,115,855
999,930
Greensburg
Binghamton
Chester
Altoona
Franklin
Frederick
Total Middle...
-
--
Ttoetoe Months.
771,895,321
•
Providence
40,010,2u0
Hartford
18,266,687
New Haven
14,121,928
9,339,260
Springfield
Portland
8,135^182
Worcester
8,552,904
Fall River
5,659,632
New Bedford
5,238,022
Lowell
2,135,491
2,342,103
Holyoke
Total New England
885,696,730
1,224,941,642
Chicago
Cincinnati
123,464,050
Cleveland
83,202,2ob
Detroit
70,715,892
Milwaukee
54,796,092
41,082,141
Indianapolis
Columbus
31,406,700
_
_
..
_
-
_
_
_
-
„
-
-
Toledo.
Peoria
Grand Rapids
...
.
19,934,470
.
_
..
-
Dayton
_
Evansville
Kalamazoo
...
-
-
Springfield. Ill...
_
Fort wayne
_
Youngstown
Akron
_
--
_
Lexington
-
Rockford
Canton
_
•
Bloomington
_
Quincy
Springfield, O
_
Decatur
South Bend
Jackson
Mansfield
Danville..
--
-
-
Jacksonville, Ill..
Ann Arbor
Adrian
-
--
Total Middle West
Details of Pacific on
Total Pacific.
_.
Kansas City
_
_
Minneapolis
.
-
_
_
Omaha.
St. Paul—
Denver.
St. Joseph
Des Moines
Sioux City
Wichita
Lincoln
-
_
_
_
-
-
_
_
-
-
_
_
5,105,071
_
.
—
..
.
Total other West.
St. Louis
New Orleans
Louisville
Houston
Galveston
Richmond
Atlanta
.......
Memphis
Fort Worth
Savannah
Nashville
Norfolk
Birmingham
Augusta
•
-
_
_
_
_
_
_
«.
_
.
_
_
_
,
_
_
-
-
_
_
_
_
Little Rock
Jacksonville
Chattanooga
Charleston
Mobile
Knoxville
Oklahoma
Macon
Columbia
Austin
Beaumont
_
_
-
-
_
Guthrie
Valdosta
.
..
Outside New York
2,114,387
2,303,651
2,279,990
1,584,485
1,709,174
1,808,892
1,502,629
812,927
157,505
1,751,750,703
page 00.
472,169,916
223,191,305
106,862,071
b 1,336,y 18
48,454,439
4i,412,7b8
27,983,785
14,750,311
5,557,096
3,109,45l
2,852,777
1,363,297
578.648,316
323,268,086
107,453,260
68,129,013
56,393,200
33,531,000
37,630,331
61,360,640
32,121,093
34,545,015
26,552,641
17,343,755
15,149,214
12,239,062
13,133,472
8,452,611
9,785,543
8,101,570
8,709,809
6,838,770
7,408,704
9,876,760
5,931,719
4,530,036
4,251,727
3,481,464
1,980,437
Vicksburg
Wilmington, N. C.
Columbus, Ga
Total Southern.
4,657,250
3,171,442
3,697,086
2,425,137
2,465,763
11,824,164
11,009,342
6,329,466
6,033,523
6,378,543
Topeka
DavenportCedar Rapids
Colorado Springs
Pueblo
Fremont
Total all
14,870,209
11,285,589
9,502,940
10,482,760
7,590,422
4,433,244
4,372,404
3,892,494
...^
.
-
1908.
Inc. or
Dec.
%
9,266.286,519
571,340,183
182,525,761
120.620,161
36,480,529
25,902,931
26,766,731
16,370,602
11,586,075
8,767,549
6,095,375
5,464,316
6,539,210
6,489,740
4,825,960
7,007,716
3,521,808
3,276,823
2,419,756
2,119,600
2,130,694
1,838,305
1,166,308
950,504
+30.7
+28.0
2,578,024
1,869,584
1,507,390
939,262
925,093,692
15.843,243.961
5,936,505,156
1909.
1908.
$
$
103,588,738,321
+20.7
+ 16.3
+9.1
+26.1
+ 12.1
+8.0
+ 12.3
+ 14.1
+25.5
7,021,756,889
79,275,880,256
5,937,754,106
2,361,076,457
2,064,632,960
1,469,673.172
467,876,993
294,586,203
337,010.188
199,589.938
129,037.845
109,338,112
1,240,904,390
71,046,018
66,314.785
83,890.087
64,247,132
78,475,203
44,532,786
36,292,043
27,995,429
+ 18.0
+ 12.5
+ 10.6
+15.4
—7.8
+ 10.1
—13.0
+ 20.3
23,176,700
25,387,488
20,924,748
13 ’,419 858
13,054,127
+9.8
—4.4
+5.2
+8.9 116,545,910,936
719,724,930
32,867,700
15,051,707
10,585,178
8,726,183
7,606,031
7,311,564
5,538,798
4,200,144
2,097,359
2,056,236
815,765,830
1,133,575,802
113,788.600
67,495,851
59,907,914
52,205,114
37,926,872
23,071,200
17,081.770
13,975,859
9,622,213
7,854,957
9,050,273
4,944,884
4,163,221
3,596,617
3,300,331
2,748,769
2,978,432
3,173,053
3,121,151
2,069,790
2,275,718
1,939,884
1,877,700
1,767,938
1,368,798
1,458,596
1,465,240
1,163,389
796,422
90,129
1,589,856,487
+7.2
+21.7
+21.4
+33.4
+7.0
+6.9
+ 17.0
+2.2
+ 24.7
+ 1.9
+ 14.0
+ 74.8
8,440,382,263
398,818,600
183,977,804
140,136,776
107,142,203
90,854,456
86.992,687
61,927,058
52,063,662
24,447,896
26,575.043
9,613,318,448
13,781,843,612
1,348,031,450
876,816,091
767,738,122
602,880,459
421,123,214
307,648,600
208,494,949
147,509,462
123,782,964
98,913,603
105,452,084
65,765,404
50,827,373
47,771,553
48,266,626
39,326,900
36,739,246
34,925,135
38,494.451
26,949,148
28,912,510
25,507,694
22,293,141
24,886,145
18,025,322
18,715,500
19,491,779
14,984,845
9,846,324
1,434,991
+ 10.2
19,363,398*697
+8.6
+8.0
+8.5
+23.3
+ 18.0
+ 5.0
+8.3
+36.1
+ 16.7
+ 6.5
+ 17.3
+21.0
+ 15.8
+ 53.1
+6.5
+21.6
+ 54.7
+ 41.6
+ 56.4
—0.1
+ 18.5
+ 17.2
+8.4
Week
Inc. or
Dec.
+!o.7
+ 18.3
+ 14.4
+ 18.4
+ 14.4
+ 5.6
278,079,235
175,959,356
116,268,804
103,732,686
64,652,121
61,727,836
61,699,409
72,000,600
54,330,443
46,012,153
39,604,359
+21.2
+ 13.4
+ 11.0
+ 5.4
+ 18.9
+ 15.1
+ 7.5
+ 16.5
+ 18.5
31,496,175
25,977,626
23,836,900
+ 15.2
+7.8
23,560,542
20,861,069
13,725,683
11,399,728
90,386,147,104
7,338,035,825
337,473,600
166,906,324
122,822,744
92,490.213
91,908,653
76,189,380
50,797,025
40,876,795
24,180,450
22,515,992
8,364,197,001
11,853,814,943
1,230,180,300
749,846,710
668.047,524
547,569,295
380,372,085
255,028,000
186,169,934
134,689,658
106,803,258
81.235,277
1909.
Inc. or
Dec.
1,980,440.417 1,780,143,393
146,622,036
129,505,632
+fx.2
+ 13.2
35,836,473
+25.5
44,978,337
26.726.010
7,914,527
5,292,991
6,096,833
2,943,251
2,526,608
1,842,883
1,223,733
1,131,095
1,161,717
1,324,986
910,340
1,511,071
687,435
824,937
476,817
315,400
437,436
363,830
235,000
+7.8
+0.3
—2 2
29,341.994
6,716,576
5,078,322
5,125,018
3,827,206
2,496,502
1,855,998
1,208,026
1,087,461
1,108,229
1,235,483
941,544
1,119,521
'672’088
557,227
407,898
374,600
434,466
333 033
247’5o5
1908.
1,335,387,844 2,125,942.186
117,181,485
156,237,758
47,410,102
52,448,316
—8.9
24,433,998
32,013,895
+ 17.7
+4.2
+ 18.9
6,772,569
4,278,701
4,689,377
4,967,709
2,460,198
2,163,796
—23.1
+ 1.2
—0.7
8,521,209
6,201,817
6,597,799
5,082,703
2,488,115
2,344,671
1,679,667
1,387,633
1,058,442
992,725
1,404,005
1,429,482
1,228,475
1,028,063
1,134,743
1,165,078
+ 1.3
+4.0
+4.8
+7.2
—3.3
+35 0
+2 3
7m sum
+47^9
612,361
500,000
430,900
556,640
+ 16.9
—15.8
+0.7
+9 3
754,468
525,000
596,200
610,522
354 526
225’ono
fi~0
980 09d
+ 14.5
+28.9
+ 15.0
+ 18.2
+ 10.2
+ 14.1
+ 15.8
—1.1
+ 14.2
+ 21.9
+ 27.4
+ 1.1
+ 18.0
+ 14.9
+ 16.3
+9.6
+ 16.9
+ 14.9
+ 10.1
+ 10.7
+ 20.6
+ 12.0
+9.5
+ 15.9
+21.8
+ 12.2
+30.2
+ 18.0
+ 15.9
+38.7
+28.4
+ 13.6
+ 14.2
16,759,475,461
+ 15.5
+57.4
+ 8.7
+ 12.5
+20.3
+8.0
+ 17.5
+ 10.9
+ 14.4
+ 19.3
+ 15.8
+31.4
+9.1
2,235.987,690 2,009,654,190 + 11.3 1,559,813,547 2,407,157,855
186,145,610
168,195,616 + 10.7
146,852,410
199,483,560
6,493,400
6,329,200
+2.6
7,471,900
9,474,200
3,255,791
3,135,836
+ 3.8
3,917,726
4,476,201
2,173,044
—4.8
2,282,614
2,686,771
2,890,183
—6.1
1,850,000
1,970,106
2,268,310
2,289,525
1,665,409
1,899,940 —12.3
2,336,173
2,526,487
1,959,923
1,622.357 +20.8
1,586,134
1,747,321
1,087,001
1,228,163 —11.5
1,069,905
1,265,846
978,930
892,105
+ 9.7
638,829
937,421
—7.9
433,000
469,937
486,944
578,555
518,189
507,280
+2.2
533,650
646,621
206,560.297
+9.6
169,848,752
188,532,954
226,315,920
—0.8
225,970,324
178.957.073
231,685,188
229,763,731
22,679,500
23,853,500
22,479,800
+0.9
26,851,150
15,558,621
13,597,654 + 14.4
14,458,511
20,540,116
12,997.962
12,498,747
11,185,851 + 16.2
14,500,385
9,515,258
10,171,846
9,089,609
+ 5.1
10,752,248
7,414,290
7,066,098
+4.9
6,550,546
8,707,451
5,317,600
+24.4
4,150,300
4,275,400
5,584,000
3,739,857
3,444,771
3,538,253
+ 5.7
3,997,242
2,440,158
2.159,569
2,415,141
+ 1.0
2,873,233
2,051,301
1,864,919 + 10.0
1,897,584
2,418,342
1,670,680
1,225,078
1,445,454 + 15.6
2,066,957
2,100,054
2,540,746
1,812,555 + 15.9
1,859,454
1,115,732
998,394 + 11.7
844,046
1,146,870
800,348
874.366
950,000 —15.7
901,674
950,000
900,832
+5.5
694,572
825,750
406,778
1,125,426
510,898 + 120.3
931,412
754,030
350,000
500,000 +50.8
715,716
748,814
568,358 +31.7
733,712
813,837
632,061
570,831 + 10.7
478,687
542,184
750,000
472,263
565,000 +32.7
533,322
409.386 + 17.1
479,536
470,981
545,632
580,490
493,780 + 17.6
421,701
636,344
370,785
500.000 —25.8
474,512
461,718
481,651
267,962 +80.0
290,272
387,730
417,926
306,844 +36.2
381,294
594,251
310,102
275,000 + 12.8
258,315
255,700
302,832
226,680 +33.5
193,885
378,920
309 614 + 10 2
268 191
341,286
237,994
217^072
+o!e
24l’,66e
307,403
146,915
183,427 —19.9
191,370
128,905
35.438
+0.2
30.000
35,364
322,036,971
+2.1
279,984,876
341,943,134
315,323,912
*
371.429,195 +27.1
4,849,146,758
3,948,758,556 +22.8
87,012,218
74,808,807 + 16.3
59,629,358
94,620,771
181.418,851 + 23.0
2,395,530,983
1,847,511,624 + 29.7
45,659.619
27,188,393
37,677,248 +21.2
28,624,623
—2.7
98,403,705
+8.6
1,029,914,855
21,241.780
1,057,468,860
16,284,440 +30.4
19,774,247
19,600,146
58,838,896
+4.6
735,225,568
12,133,526
602,525,867 +22.0
10,861,623 + 11.7
9,533,692
9,803,037
44,850,884
+ 8.0
518,244,363
+ 7.1
483,976,978
9,758,879
6,482,689 + 50.5
8,753,407
8,609,850
+ 1.6
40,743,689
466,450,933
409,996,642 + 13.8
8,200,000
6,600.000 +24.2
6,702,828
7,030,624
24,880,668 + 12.5
309,709,949
259,340,258 + 19.4
—8.8
5,134,744
5,627,021
3,798,170
5,176,582
13,750,311
+ 7.3
184,503,623
147,256,894 + 25.3
3,065,943
2,665,821 + 15.0
2,900,390
3,247,226
9170 Q1A
2 1fi7 <127
1 7QQ fide
11,718,339
+0.9
113 472 005
137,972,575
+21.6
2 325 177
JO
7,368,543 +49.4
128,399,860
72,948,070 + 76.0
2,309,181
I’,326’,480 + 74.1
992,745
1,052,396
—0.8
6,379,367
75,049.041
+22.3
61,370,918
1,303,405
1,127,874 + 15.6
1,232,158
1,259,082
—3.7
6,264,227
69,057,169
55,870,990 +23.6
1,059,612
1,220,264 —13.2
805,644
873,987
4,907,195 +30.0
67,110,645
55,520,161 +20.9
1,185,348
1,111,948
+ 6.7
977,843
1,451,326
+51.9
3,657,302
55,953,679
41,120,142 +36.1
1,023,932
851,201 +20.2
847,578
794,048
3,104,814
+0.1
35,500,692
33,593,494
+ 5.7
548,801
715,000 —23.2
650,000
856,690
+ 5.2
2,712,423
29,892,978
26,236,186 + 13.9
—2.2
471,251
482,048
464,356
477,191
1,782,545 —23.5
17,862,579
16,792,954
+ 6.4
348,533
304,092 + 14.6
289,131
273,382
510,781,959 + 13.5
6,256,379,492
5,285,002,043 + 18.4
95,662,926 +20.8,
115,601,581
86,710,128
91,310,106
297,607,429
+8.6
3,442,439,002
+2.4
3,074,806,759 + 11.9
61,544,682
60,098,874
58,235,634
63,032,371
93,127,269 + 15.4
904,231,769
786,067,353 + 15.0
20,874,894
15,106,275 +38.2
20,372,986
24,502,597
63,531,600
653,849,219
+ 7.2
579,863,327 + 12.8
—7.9
11,422,653
12,398,317
14,292,957
9,178,942
—6.1
60,058,716
639,882,064
531,917,806 +20.3
—3.8
13,000,000
13,509,325
9,018,569
9,915,836
—2.0
—4.8
34,218,000
331,777,500
348,451,000
6,097,000
4,827,000 +26.3
6,591,000
7,099,500
30,180,746 + 24.7
361,207,117
298,532,561 +21.0
6,519,544
6,762,962
5,257,033 +24.0
5,597,709
25,378,112 + 141.8
406,049,539
230,067,593 +76.5
9,913,054
4,920,888 + 101.5
3,895,793
5,437,464
26,750,333 +20.1
286,665,540
252,991,082 + 13.3
5,268,104
4,300,476 + 22.5
5,928,239
4,943,950
27,127,543 + 27.3
337,782,873
254,245,760 +32.9
5,800,000
3,512,322
4,500,000 +28.9
3,817,998
19,835,889 +33.9
240,127,836
194,180.378 + 23.7
4,774,572
3,239,286 + 47.4
3,971,719
4,509,607
14,451.399 +20.0
191,341,462
159,675,903 + 19.8
4,600,000
3,660,171 +25.7
2,332,807
3,234,755
+ 4.9
147,279,269
14,447,038
111,078,245 +32.6
2,844,529
2,154,098 +32.1
1,967,776
2,544,053
9,583,807 + 27.7
108,788,161
93,943,498 + 15.8
2,146,476
1,712,222 +25.3
1,855,069
2,431,528
9,088,644 + 44.5
108,538.295
83,838,141 +29.5
2,700,446
2,034,030
1,338,986 + 101.7
2,300,000
7,475,193 + 13.1
86,772,373
71,022,890 +22.2
1,552,932
1,220,386 + 27.2
1,371,909
1,331,627
7,146,219 +36.9
92,228,428
73,194.128 +26.0
1.749,329
1,245,612 + 40.5
1,446,605
1,278,971
6,944,517 + 16.6
77,320,043
69,766,033 + 10.8
1,700,698
1,158.326 + 46.8
1,240,510
946,255
7,005,263 +24.3
79,021,518
67,674,899 + 16.8
1,310,492
900,000 + 45.6
1,375,000
1,122,313
+8.8
6,285,676
69,927,680
65,162,895
+ 7.3
—2.4
1,259,182
1,290,000
1,709,331
1,438,942
6,425,406 + 15.3
80,925,872
71,654,489 + 12.9
1,400,000
1,308,406
+ 7.0
1,712,146
1,351,595
5,857,697 +68.6
93,526,863
52,635,058 + 77.7
1,809,964
867,876
1,170,265 + 54.6
584,500
48,482,189
4,834,877 +22.7
36,237,694 + 33.8
900,000
785,000
539,379 +66.9
536,349
39,541,135
3,226,316 +40.4
31,136,655 + 27.0
aw non
wo non
2,317.810 +83.4
38,894,123
770 000
27,413,263 +41.9
+40 0
2,466,957 + 41.1
32,361,191
27,625,136 + 17.1
498,129
325,000
352,683 +4L4
328,000
16,346,683
2,373,959 —16.6
18,406,583 —11.2
—7.2
390,092
420,594
617,498
1,791,722 + 43.9
22,391.527
15,828.681 +41.5
1,657,212 + 12.8
18,649,873
17,870,459
+4.4
—0.9
1,531,613
16,408,092
12,960,211 + 26.6
780,058 +20.8
7,968,456
7,020,492 + 13.5
8,980,725,692
7,665,268.972 + 17.2
793,507,020 + 16.6
165,827,233
170,846,772
147,178,602 + 16.1
145,271,137
14,394,826,531 +10.1 165,608,879,423 132.408.849,136 +25.1 3.138.045,529 2,831,161,391 + 10.8 2,298.257,798 3.326,875,019
5,128.540,012 +15.8 62,020,141,102 53,132,968,880 + 16.7 1,147,605.112 1,051.017.998
962,869,954 1,200,932,833
+9.2
*
•
•
,
t,
Table Clearings by Telegraph and Canadian Clearings
1907.
$
*
Sr~
1.
ending January 1.
*
—2.8
50,520,060
43,082,990
41,215,519
34,791,423
30,629,234
32,354,298
30,576,274
24,458,954
24,784,427
25,696,054
21,125,550
20,645,244
21,171,045
16,259,603
16,360,935
16,335 095
12,937,920
7,494,123
1,314.283
■
1910.
+12.4
93,965.446
.
+9.0
+22.7
+ 29.0
+ 15.8
+ 17.2
+ 23.4
+29.2
+2.0
409,086,607
278,976,213
76,895,617
—2.6
11.229,884,604 10,313,486,040
Boston
JJepeyster Sts., N. T. O. William B. Dana, Prert.: Jacob Seibert Jr., Vlee-Prart,
See.; Arnold O. Dana, Trees. Addresses of all. Office of the Company.
aim
DECEMBER, SINCE JANUARY 1 AND FOR WEEK ENDING JAN.
Clearings at—
1909.
Putxltted arecr Saturday byWILUAM B. DANA COMPANY. Front, Pins and
NO. 2324.
on
Page 000
* Not Included for month and twelve months; comparison Incomplete.
|
68
THE CHRONICLE
] VOL.
LXXXX.
still another
CHRONICLE INDEX.
The index to Volume 89 of the “Chronicle”—which
volume ended with the issue of Dec. 25—will be sent to
our
subscribers with the number for Saturday, Jan. 15.
THE FINANCIAL SITUATION.
A
of depression passed
competitor for transcontinental business,
namely the Western Pacific, will be actively in the
field.
year
It is remarked that the record for the calendar
1909,
a
period of rising values, shows that Great
Northern shares closed Dec. 31 at 143%, which was
lower than the opening for that year at 147%, and that
Northern Pacific stock did but little better, closing at
the financial 145%, against 143% at the opening. On Thursday
and values on the Stock Exchange the Great Northern return of
earnings for December
received a severe shaking down. Seldom has such a was made
public,showing a loss in gross of $420,756.
budget of unfavorable news been received as came In that month, however, the switchmen’s strike was
with the opening of the new year, for business, on in effect.
Another adverse influence on Monday was the weak¬
Monday. In thq first place, money rates took a sharp
spurt upward, call money on the Stock Exchange ness of Rock Island shares. Following the remarkable
touching 12% and getting as high as 14% after the gyrations in Rock Island common the previous week,
close of the Exchange.
At the same time there was this occasioned more or less anxiety. On Wednesday
a renewal of gold
engagements for South America. the market for these shares broke wide open, and the
News dispatches from Chicago and other Western cause then
appeared. The directors had failed to
centres spoke of blizzards and continued severe weather take the expected action and resume dividends on
in the West, under which railroad operations were the preferred shares.
But undoubtedly the most
being seriously crippled. The United States Supreme potent influence of all, on Monday as well as since
Court was hearing argument on the American Tobacco then, was the fact that President Taft was
engaged
Co. case and the United States Government asked to in drafting his
message to Congress urging amend¬
have the Standard Oil case advanced. There was in ments to the
Railway Rate Law and thaf, leading rail¬
this a suggestive reminder that under the rulings of the way magnates had
sought to get the President to
courts numerous large industrial combinations might modify his views and
purposes.
Six railroad Presi¬
be placed under the ban if the Federal authorities at dents were in conference with the President on
Monday
Washington should choose to proceed against them. discussing the proposed changes. It appears that
Another depressing fact was the seeming possibility Mr. J. P. Morgan arranged the conference with the
that all the mines of the Amalgamated Copper Co. President last week, or at least
persuaded him that
he
should
see
the
might be shut down, owing to the attitude of the
railroad people before definitely
miners’ union in seeking to aid the striking switchmen submitting his recommendations to
Congress. The
on the roads in that
conference
was
part of the country!
obviously an important one and much
Then, also, the Northern Pacific submitted an depended upon its outcome..
unfavorable statement of earnings for the month
of November.. The gain in gross, as compared with
Perhaps prevailing views were altogether too gloomy
the corresponding month of the previous year, was early in the week.
Most of the adverse conditions
that
occasioned the feeling of gloom were ephemeral
very small, reaching only $272,083, and came almost
in
their nature, and certainly there has been a great
entirely from the passenger business. Expenses were
augmented $686,610, thus leaving a loss in net for amelioration of conditions as the week has progressed.
the month of $414,527. This, to be sure, was an iso¬ For one thing the differences at the
copper mines and
lated poor return alongside a long list of very favor¬ smelters in Montana have been
adjusted, the smelters’
able returns of earnings by other companies, but it union agreeing to let its members handle
ore, no mat¬
was considered
deeply significant as indicating the ter whether transported on trains switched by members
effects of new competition. Recent monthly returns of the striking switchmen’s union or
not, thus obviating
have shown that the Northern Pacific was losing a general shut-down both at the mines and the smelter
considerable business to the Puget Sound line of the plants. The money market, too, is on the mend.
Milwaukee & St. Paul and that the Great Northern The high rates prevailing early in the week are at¬
was also suffering from the encroachment of the new
tracting funds from all parts of the country, and yes¬
competitor, although to a very much smaller extent. terday the highest figure for call loans was 6%. When
The November statement of the Northern Pacific fur¬ the first of
January interest and dividend disburse¬
nished renewed evidence of what is going on in that ments have been
made, ■ and currency begins to
respect. The switchmen’s strike did not come until flow strongly in this direction from the interior, which
the close of that month.
On Thursday the Milwaukee should happen before
long, the money market should
& St. Paul made public its own November return and furnish no further occasion for uneasiness. It
should
this showed that the Puget Sound line for that month be
noted, too, that the Bank of England this week
had earned gross of over a million dollars—in exact made a further cut in its rate of
discount, reducing its
figures, $1,044,788. For the four months from August minimum from 4%% to 4%. This is evidence that
to November inclusive its gross revenues are given as the
monetary situation abroad is also clearing up.
The possibility of trouble from political sources
$3,548,757, undoubtedly a noteworthy exhibit for a
new line; but it is assumed that the bulk of these
alone remains. The danger there is undoubtedly real,
earnings must have been gained at the expense of the and it is quite conceivable that Congress might, in
older roads. What is causing disquietude is the fear
response to the recommendation of the President,
that these older lines may become restive under the enact legislation that would
prove deeply disturbing.
continued losses and may take drastic steps to protect There is no concealment of the
purpose in view, which
their traffic. The situation is certainly a trying one is to interfere further with the affairs of the roads and
for the old established routes, particularly as ere long to substitute the
judgment of a political body for that
w^ve
markets this week
oyer
Jan. 8
of the
1910.]
THE CHRONICLE
69
and managers
of the properties, and to producing iron at the rate of 32,000,000 tons a year.
hamper their activities in many ways. For the calendar year 1908 the product was approxi¬
The men who called in a body on the President on
mately 26,000,000 tons and in the calendar year 1907
Monday were President W. C. Brown of the New York it was riot quite 16,000,000 tons. As far as the im¬
Central, James McCrea of the Pennsylvania, R. S. mediate future is concerned, the only thing that could
Lovett of the Union Pacific and Southern
Pacific, endanger continued growth and expansion is legisla¬
George F. Baer of the Reading, Charles S. Mellen of tion detrimental to the interests of the railroads, the
the New Haven and W. W. Finley of the Southern
largest consumers of iron and steel.
Railway. When such leaders in the railroad world
owners
restrict and
feel it incumbent to visit the
President,
or
when Mr.
Morgan deems it desirable that the President should
hear what they have to say, developments of
import¬
ance are evidently in
progress.
A somewhat similar
conference which Mr. Morgan sought to arrange
with
President Roosevelt three years ago—that is, in March
1907, before Mr. Morgan’s usual trip to Europe—
failed, precipitating a great break in prices on the Stock
Exchange, and this failure had its part in bringing
about the panic which came later in the year.
All ac¬
counts agree in saying that this week’s
delegation of
railroad men was very courteously and cordially re¬
ceived.
Nor does it appear that the visit of the rail¬
road men was altogether without effect.
Yesterday
the President’s special message was sent to
Congress,
and it contains all the things which he has been so
strenuously advocating and which he has inherited
from Mr. Roosevelt.
The proposed “Court of Com¬
merce ’ is so constituted as to
embody a meritorious
and workable idea.
But the Inter-State Commerce
Commission is to have the right to initiate rate reduc¬
tions and to prevent
advances in rates; the roads are
longer to be allowed to hold stock in competing
lines, preventing the community of interest arrange¬
ments, which have been so beneficial in the past; new
capital issues are to be dependent upon the will of the
Commission, and new stock is not to be sold for less
than its face value, &c., &c.
We discuss the Presi¬
dent’s recommendations at length in a subsequent
article. Of course, if Congress should act in accor¬
dance with the President’s desires, the future of the
no
railroads would be involved in
tainty.
that
We have
a recurrence
is out of the
no
more
or
less
uncer¬
hesitation, however, in declaring
panicky conditions of' 1907
of the
The
crowning advantage of the gift of land and
money (10,000 acres situated in Orange and Rockland
counties and $1,000,000) by Mrs. Harriman to the
State is that it supplements and extends a
far-sighted
and far-reaching scheme of reservation (which is of
preservation also) that began with the creation of the
Palisades Park Commission in 1900. In conjunction
with New Jersey the State has gradually
acquired,
through this Commission, control of the Palisades
from Fort Lee to Piermont, and even further.
The
State has contributed $400,000, New
Jersey has con¬
tributed $50,000, and the members of the
Commission,
after serving without compensation and
accepting for
their entire personal expenses
during nine years less
than $500, have secured extensive private contribu¬
tions, in which Mr. Morgan and Mr. Rockefeller lead
with a half-million each.
Especial recognition is due
to the work of Mr. George W.
Perkins, whose own con¬
tribution of $50,000 is of far less value than his ener¬
getic personal handling of the subject; the work had to
be done by some one, and he had the
public spirit to
make himself that one
As remarked above, the
Harriman offer—which the State can utilize
only upon
certain reasonable participation and conditions—will
begin, geographically speaking, about where existing
schemes leave off; between them, they offer the final
preservation of the west bank of the Hudson and cre¬
ation of a public park for all time.
Incidentally this
will be of further service in giving one more .cumulative
proof that wealth, as well as aristocratic birth, in¬
volves an obligation. Wealth obeys this obligation
voluntarily; it does not need compulsion, and every
new instance makes the
example stronger.
question. What occasioned alarm and
It was hopefully observed, before he entered
upon
destroyed confidence at that time was that apprehen¬ his new duties, that Mr.Gaynor had both
opportunity
sions then existed as to whether even the courts could and inducement to
independence in the fact that he
be depended upon to protect the railroads against
po¬ was not under the usual political bond, and his first
litical aggression and preserve Constitutional safe¬ week as
Mayor gives gratifying evidence that he appre¬
guards and guaranties. Events since then have ciates this. His appointments thus far have been
demonstrated that the Courts constitute a perfectly
distinctly for merit, and he puts his appointees upon
safe haven and refuge.
their mettle in language which is
singularly blunt and
unmistakable. To one he says that
compelling sub¬
It is gratifying to find that business activity con¬ ordinates to
keep membership in the party organiza¬
tinues unimpaired. In the iron and steel
industry, tion must cease; to another, he declares his intention
the volume surpasses that experienced in all previous to banish all
influence and favoritism “once for all;”
similar periods. The “Iron Age” of this
in
city has is¬
reappointing another, whom he commends for hav¬
sued its usual monthly statement this week, and this
ing had no padded pay-roll, he says that such abuses
shows that in December a new high record in iron
pro¬ must cease; he tells another that the police must be
duction was reached in the United States. Our con¬ held
strictly to duty and be judged sternly, though
temporary reports the make of iron for that month at fairly, when charges are brought against them. It is
2,635,680 tons, or 85,022 tons a day, against 2,547,508 pleasant to note that other new officials are
showing a
tons in November, or 84,917 tons a
day. In October, like disposition. The Comptroller, for instance, re¬
the previous record month, the output was
2,599,541 sorts to time cards and sets his face against the no¬
tons.
In December 1908 the make was
only 1,740,912 torious misuse of city motor ears for personal pleasure,
tons and in December 1907
(immediately after the setting the example himself by declining to use one,
panic, when everything was at a low ebb) the product and saying that the public
conveyances are good
was only 1,234,279 tons.
The United States is now enough; he adds that he intenite to
go about somewhat
70
and
THE CHRONICLE
[VOL.
LXXXX.
for himself how the
public money is expended. for delay in finishing vessels are often a source of heavy
daily puts it, the promise is for an administra¬ losses, and it was Sir Christopher's idea that if he could
tion of sole leather instead of rubber tires.
guarantee prompt delivery, his companies would enjoy
This is a new broom, certainly, and the saying is a great advantage over others. The first
year's re¬
that a new broom sweeps clean. So, without forget¬ sults have entirely justified expectations. Every boat
ting that ancient abuses die hard and are always ready has left the yards on time, occasionally earlier. Not
to quietly re-establish themselves, we may congratu¬ only so, but
despite the depression that has prevailed
late ourselves upon a wholesome beginning at least. in the whole shipbuilding and marine
transportation
That is good while it lasts; it is best if it perseveres, and business, the profits have been most
encouraging.
As
see
one
it ^offers
a
standard and
virtue which
a
reminder of old-fashioned
The directors have declared “a distribution
on
the
have agreed basis of the scheme, viz., the guaranteed 4%
a businesslike administration without
making the be¬ to the employee shareholders, the fixed 5% to the ordi¬
ginning of one, and this is clearly a beginning. The nary shareholders, with a bonus of 5% to both classes
ideas are sound, and we are encouraged to hope that of shareholders," or 9% for the
employees and 10%
a better
for
the
day has really begun.
ordinary stockholders. The arrangement
promises to be continued with satisfaction and profit
In the two foremost industrial countries of the world, to all parties.
Great Britain and the United States, earnest efforts
are being made
Parliamentary elections throughout Great Britain,
by certain large employers to win the
it
has been decreed, can take place on Friday next
co-operation of their workmen by granting them fa¬
cilities for becoming personally interested in the finan¬ and subsequent days, but not earlier. Saturday the
cial results obtained. The greatest industrial corpora¬ 15th inst. will in all probability be selected by many
tion in America, and, indeed, in the world, the United constituencies, especially in the great industrial cen¬
States Steel Corporation, has found the plan of selling ters, as the half-holiday on that day is
practically
universal
in
capital stock to its workmen, under certain conditions
England and Scotland. In little more
calculated to secure continuance of service, so success¬ than a week, therefore, the polls will yield the anxiful that it is developing the scope of the scheme, and iously-awaited verdict of the electorate on the mo¬
this example is stimulating a similar movement mentous issues at stake- No prophecies
need be in¬
among other important, and even unimportant, con¬ dulged in here, but it may not be out of place to chroni¬
cerns.
Just how far-reaching has been the benefit cle the fact that the original confident
expectations of
of the Steel Company's consideration for its men will a sweeping Liberal victory have been greatly modified,
probably be tested this year, when professional labor as can be deduced from the betting odds, which have
agitators are seeking to disrupt the friendly relations fallen from 3 to 1 in favor of the Liberals to only a
now existing.
The management of the corporation, fraction above even.
conscious of their fairness, not to say generosity, are*
The campaign is being waged with intense bitter¬
confident that the great body of their 200,000 em¬ ness. The security markets are acting calmly, al¬
ployees, and all the better element, will remain loyal. though it is widely believed that a substantial majority
The contest will be watched with peculiar interest on for the Liberal Government would mean a decline in
both sides of the Atlantic, for if it should unexpectedly British investment securities, including Consols, which,
be found that the workmen who have accepted the it will be recalled, advanced when it became known that
opportunities to become stockholders, and therefore the House of Lords had decided to refer the Budget
partners, are ready to turn their backs upon their to the voters. The interpretation put upon a signal
own enterprise, and to follow
demagogues, the profit- Liberal victory would be that the forces of Socialism
sharing, co-operative movement may sustain a serious had triumphed and that capital would be in danger of
setback. Such a regrettable outcome is not, however, hasty legislation which the Upper Chamber would
likely. As part of the fight against the Steel Corpora¬ be impotent to prevent. Of course the Opposition
tion, the American Federation of Labor, or a com¬ orators are exaggerating the probable effect upon capi¬
mittee representing it—headed by Samuel Gompers— tal of a return to office of the former party; the
depart¬
has petitioned President Taft to investigate the “Steel ing “cargoes of securities" that are talked of
exist, and
Trust" as an illegal combination doing business in will continue to exist, only in impassioned
imagina¬
violation of the Sherman Anti-Trust law. The Presi¬ tions, for fleeing capital will find that other
govern¬
dent has signified his intention of taking the whole ments are more and more mulcting wealth in onerous
matter up with the Secretary of Commerce and Labor taxes.
American securities have of late been pur¬
and the Labor Commissioner.
He cannot fail to chased in moderate volume by Europeans, who are at¬
find much to commend in the Steel Corporation's tracted mainly by the comparatively generous income
treatment of its employees.
returns obtainable here.
The election campaign has demonstrated that, no
Abroad an excellent illustration has just been pre¬ matter which party wins, reform of the House of Lords
sented of how the profit-sharing system has proved will be instituted. Traditions have been thrown to the
successful in an industry that perhaps more than any winds in Britain as well as in America and other coun¬
other has suffered from labor troubles. Sir Christo¬ tries in recent years.
New times demand new meth¬
pher Furness, a well-known, broad-gauge shipbuilder, ods. Democracy is spreading on all sides, even among
early last year introduced a scheme to interest his nations still without any adequate measure of political
workmen in the profits realized, his aim being to do freedom. In Great Britain it
promises to take the
away* with the strikes that not infrequently arise form of granting Ireland a measure of self-government
among one or other of the various trades that are in¬ in all domestic affairs and of curtailing the powers of
volved in building the modern steamship. Penalties the House of Lords, which is, of course, not an elected
once
existed.
The
city
can never
Jan. 8
j.
1910.]
THE CHRONICLE
71
body. Lord Lansdowne, the Unionist leader in the paper, but not on the terms now
quoted for collateral
Upper House, on Wednesday delivered a somewhat loans, the usual rate demanded
being 5%. Money is
remarkable speech on this subject. He
frankly ad¬ needed for various enterprises contemplated by our
mitted that reform is necessary, that the
present House leading financiers, who, it is believed, would like to turn
is too unwieldy, and that the House of
Commons part of their stock
holdings into dollars if this could
should exercise the
preponderating power. For this be done without injuring market values.
reason he objected to an elective
chamber, since it
would naturally claim co-ordinate
The demand for the one form of
power with the
currency universally
Lower Chamber.
He endorsed the plan drawn
up two acceptable, gold, has not ceased with the advent of
years ago by the Rosebery Committee, namely, that the new
year and the monetary ease that is looked
the inner House be composed
partly of peers whose for at this time. The Bank of France,
although it
antecedents and qualifications justified their inclu¬ holds
$698,000,000 of gold, is quite as eager to aug¬
sion, partly of peers elected by the peers themselves ment. its
supply as the Imperial Bank of Germany,
and partly oflife peers
appointed by the Crown on the which owns only $223,000,000 gold and silver com¬
recommendation of the Government of the
day.
bined, or the Bank of England, whose total coin and
bullion amounts to the
relatively insignificant sum of
It were possible to draw too
flattering deductions $168,500,000; the fact that money in Paris is worth
from the change in the Bank of
England’s discount only 2%%, contrasted with 3 24% in Berlin and Lon¬
rate thus early in the
year and amid so turbulent and don, apparently makes no difference to
the French
unprecedented political conditions. The plain truth banking
authorities, perhaps because they are con¬
is that the Governors had little to
gain and probably a templating the issuance of very important loans for
good deal to lose by retaining a 4)4% official minimum foreign
governments, including Hungary, as well as
when private discounts were
quoted fully 1% lower. the conversion of Bulgaria’s 6% loan of 1892. Gold
Their action, indeed, was
practically forced upon them is in keen demand for India, as has been shown
by
by circumstances not wholly under their control. The recent purchases in the
open market; incidentally, it
Bank’s stock of bullion did increase more than
$5,- may be noted that most encouraging reports continue
000,000 this week, but the total, about $168,520,000, to come from the Indian
Empire, whose exports of
is not by any means superabundant when it is
remem¬
commodities and merchandise have been so
heavy
bered that gold demands have come and are
.coming that the demand in London for remittances has led
upon L adon from the Continent, from India, from the Indian Council to offer
no less than 100 lacs
weekly,
South America and other
quarters, home and foreign, with notable success. An Indian loan of
$37,500,000
that the Bank of France is
holding several million has just been announced.
pounds of bills which thTe London institution will have
The South American
gold requirements have re¬
to meet in gold as
they mature, and that the British vived, if they could be said to have at
anytime ceased.
Government has to be financed
scale that cannot
as this week’s increase of almost $14,on a
fail to be
large,
000,000 in “Government securities” indicates.
In addition to all this, London is
being called upon
to carry more or less securities for American
account
now that
money rules lower abroad than here; she must
be prepared to handle extensive
corporate borrowing,
Brazil has this week taken moderate amounts
from
both London and New
York; but Argentina is the
principal importer to be reckoned with hereafter,
inasmuch
as Brazil’s coffee
exports are virtually over
for the season, whereas
Argentina’s shipments of grain
will shortly be in full
swing. This week New York
sent
$500,000 gold to Brazil and $500,000 to Argentina,
foreign loans, and then funds $250,000 is scheduled to go to to the latter
country on
must be kept on hand to
effectively cope with any dis¬ Sunday (to-morrow), while an additional
engagement,
turbances in security markets that the election
returns, involving $600,000, was announced on
Thursday for
which will begin to come in a week
hence, may pre¬ remittance to the same point next
week, making a
cipitate. A reserve of 39.40%, or a trifle under the total of
$1,850,000. The state of the foreign ex¬
proverbial danger line of 40%, is not, viewed by itself, changes at New York
suggests that conditions will con¬
unsatisfactory for the first week in January, but on tinue favorable for further
shipments to South America
this occasion it does not warrant the
relaxing of that in payment of exports of grain to
as
well
as
colonial and
and restraint which have been exercised since the
discount rate was raised from 234%, on Oct.
7, to 3%,
and then in successive weeks to
5% on Oct. 21.
Europe.
care
Discount rates abroad have weakened
the
a
little since
began, although the reductions are neither
general nor striking. The quotation in London, for
The best opinion on the
strictly monetary outlook example, is now 334@3J4%, which,
though lower than
in New York is that the
comparatively high rates for that given a week ago for spot bills, is the same as
call loans will quickly subside, but that time
money then quoted for bills to arrive this week.
Paris re¬
will not be any
cheaper than it was before the new year. mains at 2%%, from which
figure there has been no
The demand for capital
throughout the world is un¬ perceptible deviation in weeks.
Berlin, having tided
usually heavy. Foreign governments and munici¬ over the year-end
by resorting, as usual, to an enor¬
palities are applying for enormous sums; trade every¬ mous
expansion in its note circulation, is now easier
where is expanding; the United States
Treasury will financially, as a discount rate of 3%@3}4%
testifies; as
shortly be a borrower on a large scale; many huge soon as funds return to
banking
channels,
a
reduction
issues of railroad capital are either now
being paid for in the 5% official rate will be in order,
although the
by installments, or awaiting issuance, while the world¬ trade
activity
in Germany is sp pronounced that com¬
wide high level of prices tends to increase the strain
paratively firm money rates are to be expected for
upon mobile capital.
Banks in New York, in New an indefinite period.
The Amsterdam quotation is a,
England and in the West are willing to buy commercial hade
at
easier,
According to our special
new
year
12
[VOL.
THE CHRONICLE
LXXXX.
London, the Bank of England, though it Dec. 31 commitments to a minimum. Efforts were
secured none of the $3,250,000 new South African made by the best merchants, manufacturers and others
gold offered in the open market on Monday (Paris and to establish a 434% basis for choice six months’ bills,
Had the de¬
India getting it), gained £1,075,768 bullion and held but the movement was not successful.
£33,703,843 at the close of the week. Our corre¬ mand been poorer, a 5% rate might have been fixed,
spondent further advises us that the gain was due in but buying orders came from New York City and State,
from the West (notably Chicago) and from New Eng¬
greatest measure to receipts from the interior of Great
Britain. The details of the movement into and out land, where the mills, having purchased raw cotton
of the Bank were as follows: Imports, £448,000 (of some time ago, were not calling upon the banks so
which £8,000 from Australia and £440,000 bought in heavily as they did in November and December. The
the open market); exports, £64,000 (of which £50,000 net result has been that the best grades of four to six
to South America and £14,000 ear-marked Straits months’ single names are not often negotiated at 434 %,
Settlements); and receipts of £692,000 net from the the usual range being 4% @5%, with 5 @534% quoted
for others. Sixty to 90 days’ endorsed bills receiva¬
interior of Great Britain.
ble are nominally 434 @5%.
cable from
Money rates have attracted unusual attention dur¬
ing the current week, especially for day-to-day loans.
Foreign exchange rates this week have again re¬
December passed without bringing, even in the clos¬ flected, by their erratic fluctuations, the speculative
ing days, a higher rate than 7%—the maximum for operations of certain brokers and banking interests
1909—and this encouraged the hope and belief that the who misjudged the market in the closing weeks of
1909, while trading on a large scale has been in evi¬
new month would not witness any marked stringency.
expectations. As soon as operations
began on Monday, the first business day of the year,
it became evident that the postponed demand would
cause
a sharp
advance, Renewals were made at
7 and 8%, by afternoon 12% was recorded, and after
the market closed 14% was paid, or exactly twice the
maximum rate of the previous twelve months. It
was felt that Tuesday would bring relief, but on that
day the flurry of the previous evening induced lenders
to hold out for stiff rates, and the first loan was made
at 9%, while 8% was charged for renewals.
Wednes¬
day saw a moderate decline, the high figure being 8%,
with 7% the ruling rate.
On Thursday the recession
was more pronounced; 7% was the maximum, and by
the late afternoon 4% was accepted, although most of
the business was done at 6@6^%. Yesterday (Fri¬
day) the range was 5 @6%, with the close 5%.
The average rate for the week was 7%. That the
tightness has passed is generally believed, as funds dis¬
tributed on Monday are now being placed in the hands
of bankers and are thus available for fresh use. The
rise in call rates was in part responsible for the irregu¬
larity in the stock market, although uncertainty and
disappointment over the attitude of President Taft
towards the prominent railroad representatives who
visited him was regarded in financial circles as the chief
depressing influence.
Time money rates underwent a change during the
week. Lenders, both locally and out of town/were
attracted to the call-money division by the remunera¬
tive terms obtainable, and these operations tended to
restrict the offerings of time accommodation. Conse¬
quently, quotations were marked up. Not only so,
but more fastidiousness was manifested concerning the
kind of collateral profferred; unless choice securities,
enjoying an active market, were tendered, the rate
was raised to 4%% or 5%, the latter figure being fre¬
quently paid on moderately good bonds and industrial
stocks. The range was wide during the second half of
the week—from 434 to 5% in fact.
A more precise
idea of the market may be conveyed, however, by
giving the most common rates; these were 434 @4%%
for 60 and 90 days and 434% for four, five and six
Events falsified
months.
dence
in
another
and
more
influential
direction.
consequently prevails. An examination of
however, has led many experts
to act upon the theory that exchange will this month
and in February move upwards, possibly to the goldexport point. Not only are commercial bills of every
description scarce, but there is no assurance of any
early improvement in this respect. Then the heavy
shipments of securities to Europe represent, very
frequently, not actual purchases, but merely the trans¬
fer of the burden of carrying them, interest rates in
London and Paris being lower than in New York.
This phase of the situation is little discussed outside
of exchange and international banking circles, for the
reason that the facts are not generally appreciated,
but future financial dealings may bring the movement
more prominently to the fore.
It means that our
floating indebtedness to Europe is being increased;
hence, if circumstances arise to induce foreign centres
to draw upon New York, gold may have to be shipped
in quantity.
The possible expansion of our bank¬
note circulation in connection with new Treasury
financing is also a matter of more than academic
interest to the foreign exchange market; indeed, the
loss of approximately $100,000,000 gold in 1909 is
not wholly dissociated from the inordinate output
of note circulation in recent years, as our bankers are
now realizing.
This week’s sharp break in cotton,
the course of discounts abroad, Europe’s attitude
towards American securities, and particularly impend¬
ing new issues, are all points directly affecting inter¬
national exchange, but at the moment the position
is somewhat obscure. The rank speculation that has
characterized trading in exchange during the last
month or more also precludes the formation of any
dogmatic opinion as to how rates will move from
one day or one week to another.
The main fact
to-day is the scarcity of remittance, except of the
kind that reflects borrowing abroad.
Confusion
fundamental facts,
Compared with Friday of last week, sterling
ex¬
change on Monday closed lower, on the basis of
4 8360@4 8370 for 60 days, 4 8660@4 8665 for de¬
mand and 4 8705@4 8710 for cable transfers. On
Commercial paper, as anticipated, was offered in Tuesday all classes of remittance advanced 15 points,
increased quantity by drawers who had restricted their and on the following day the upward movement was
*
Jan. 8 1910.
THE CHRONICLE
-•
■
-v
■+
«
k
,»
■
i-
73
■«
again in progress; 60 days reached a maximum of
4 84, demand 4 87 and cable transfers 4 87%.
On
Thursday 60 days remained unchanged, but demand
receded to 4 8675 @4 8685 and cable transfers to
4 8725 @4 8730.
On Friday 60 days and demand
were firm but cable transfers declined to 4
8710@
leading parties that
4 8720.
had
,
'
The
following shows the daily posted rates for ster¬
ling exchange by some of the leading drawers.
Brown
Brothers & Co
Fri.,
Mon.,
Tues.,
Wed.,
Dec. 31
Thurs.,
Jan. 3
Jan. 4
Jan. 5
Fri.,
Jan. 6
Jan. 7
/ 60 days 4 84H
..ISight.. 4 88
Kidder,
J60 days
Peabody & Co— ../Sight..
Bank ol British
/60 days
North America
..ISight..
Bank of
/ 60 days
Montreal
..\ Sight..
Canadian Bank
J60 days
of Commerce
Z Sight._
Heldelbach,
/GO days
4
4
4
4
4
4
4
4
4
Ickelheimer & Co -./Sight.. 4
Lazard
! 60 days 4
Freres
-.ISight.. 4
Merchants’
J60 days 4
Bank of Canada. ..ISight.. 4
._
-
-
..
85
88
85
88H
85
88
85
83
84
H
84^
84^
88
84 H
87 H
85
88
85
87 y2
87 H
84 Vj
87 yi
85
88
85
87 li
87 H
84 X
87 H
85
88
85
87 H
87 H
84 H
87 X
85
88
85
87 X
84 H
87 yi
84 M
87 H
84 H
87 yi
84 H
87 X
84H
84 yi
87 X
84 H
87 X
84 \i
87 H
84 H
87 H
.
88
84M
87H
mi
87 H
84 H
85
88
85
88
The market closed
84^
87H
85
88
84H
87 H
84 M
87 H
84^
87 H
84 yi
87 H
84 H
87 yi
84H
87 yi
85
88
85
87 M
84 H
87 yi
844
87 4
844
874
84 4
874
Friday at 4 8390 @4 84 for
days, 4 8675@4 8680 for demand and at 4 8710@
4 8720 for cables.
Commercial on banks was quoted
at 4 8360@4 8370 and documents for payment at
4 82%@4 83%.
Cotton for payment ranged from
4 82% to 4 83 and grain for payment from 4
83%
on
60
to 4
83%.
The
following gives the week’s movement of money
by the New York banks.
to and from the interior
“landslide”
as a
earliest
came so
ballotings
clearly into evidence in the
to point unmistakably to a
general movement throughout* the country. There
have also been elections when the indicated parlia¬
as
mentary representation
no
ran
so
evenly, between the
certainty existed
as
to which
the election until the small and remote
stituencies had all been heard from.
won
con¬
The
pending electoral campaign has thus far ful¬
filled one prediction made rather generally when Parliament dissolved.
It has been difficult, even yet, to
make sure which, out of three or four issues urged by
the several
parties, is the issue that appeals most
strongly to the public mind. The challenging of a
House of Commons Budget by the House of Lords
being a n vel incident in British politics, and ;the
entry of individual Peers into the thick of political
campaigning being a spectacular incident, it is natural
that the dispatches should have devoted the greater
part of their space and attention to the so-called con¬
stitutional struggle. But meantime, English news¬
paper accounts show that the fight over protection
versus free trade is
being vigorously prosecuted in
Lancashire; that the Home Rule “plank” thrown at
the last minute into the contest is operating both
favorably and unfavorably for the Liberals, and that
the Budget of taxation itself, on its merits as a fiscal
plan, is being pressed on the consideration of con¬
stituencies where the thrifty middle classes predomi¬
nate.
Week ending
Received by
Shipped by
N. Y Bank*. N. Y. Banks.
January 7 1910.
Currency
Gold
$11,662,000
2.647,000
Net Interior
Movement.
$4,490,000 Gain
1,324.000 Gain
$7,172,000
While, however, it still remains
more
or
less in
doubt which is to be the
dominating issue, there ap¬
Total gold and legal tenders.
pears to be a growing conviction that this election,
$14,309,000
$5,814,000 Gain $8,495,000
whichever way it goes, is certain to be followed
by
With the Sub-Treasury operations and gold exports
effort at reform in tho composition of the House of
the result is as follows.
Lords.
Some of the Peers, in their political ad¬
Into
Out of
Net Change in
dresses, have admitted the probability of such a
Week ending January 7 1910.
Banks.
Banks.
Bank Holdings.
sequel, and have as a rule declared their own readiness
Banks' Interior movement,
above.
$14,309,000
$5,814,000 Gain $8,495,000
Sub-Treas. oper. and gold exports..
29,300,000
28.300.000 Gain
for such reform., Lord Lansdowne, the Conservative
1.000.000
Total gold and legal tenders
$43,609,000 $34,114,000 Gain $9,495,000
leader in the Lords, this week expressed his adherence
The following table indicates the amount of bullion to the Rosebery plan of an Upper House made up of
members selected for their experience and achieve¬
in the principal European banks.
ment from the Peers themselves, and of life Peers
-
1,323.000
as
Bank*
January 0 1910.
of
Gold.
Silvdr.
£
£
England.. 33.703.843
France... 189,621.200 34,959,920
Germany.. 34,052,800 10,558,300
Russia
140.890.000
7,062,000
Aus.-Huri. 56,418,000 12,458.000
Spain.... 16,117,000 30,795,000
Italy
38.550,000
4,007,000
Neth’lands 10,081,000
3,039,200
Nat.Belg.
4,239.333
2,119,667
Sweden
4,468.000
SwItxeiTd.
4,958,000
1,777,000
Norway
...
....
.
_.
January 7 1909.
Total.
Gold.
Silver.
£
£
£
31,172,636
174,480.720 140.717,433
44,611,100 40,550,000
147,952.000 123,088,000
68,876,000 49.265.000
46,912,000 15,812,000
42.557.000 37,593,000
13,120,200
8,417.800
6,359,000 4.233,333
4.468.000
4.344.000
4,958,000
4,707,000
1,777,000
1,747,000
named
Toted.
£
.31,172,636
35,320,423 176,037,856
11,060,900 51,610,900
0.870.000 127,958,000
12,225,000 61,490,000
32,396.000 48,208,000
4,550,000 42.143,000
4,110,300 12 528,100
2,116,667
6.350,000
4,344,000
4,707,000
1,747.000
Total week 484,776.176 104,998,687 589,774,863 459.647,202 108.649,290
568,296,492
Prev. week 487,278,522 108,404,698 598,683,215 455.816,958 108.138.442 563,955,400
fi
■■■
HY/1. i
ISSUES OF THE ENGLISH ELECTION.
Within the next three weeks, the net result of the
English general election will be known. Balloting
should begin in some constituencies, where the elec¬
tion
like
machinery admits of
a
week from
stituencies
now.
an
early poll, something
It will continue in other
during the ensuing week
con¬
Whether
possible to forecast with confi¬
dence the general result from the earlier
returns,
depends on whether the tide is moving strongly in the
direction of one or the other party. There have been
English elections—that of 1906 was one of them—
when the phenomenon known in American
politics
it will
or
will not be
or so.
by the Crown.
Lord Cromer and others of
the most influential among Lord Lansdowne’s
party
associates in the Upper House have taken a more
or less similar attitude.
On the other
side, it is noteworthy that there is little
outright abolition of the
Grey, the Foreign Secre¬
tary, has proposed selection of members for the Upper
House through vote of the people for candidates with
specified qualifications. He had in view, no doubt,
the French Senate’s composition. Mr.
Asquith him¬
self, though bitter in his political attack on the House
of Lords’s refusal to
approve the Budget, has none the
less declared himself
publicly not to be a “single¬
chamber man.” Mr. Lloyd-George, the Radical
par
excellence of the present Cabinet, has made a similar
talk among Liberal orators of
House of Lords. Sir Edward
declaration for his own account. It is in fact rather
difficult to understand how any thoughtful
statesman,
familiar with present political tendencies and with
past political history, could honestly advocate gov¬
on such a
plan. As the London “Spectator”
has recently pointed out, there are
to-day only five
governments which rest on a single legislative chamber,
Greece being one of them, and the other four
being
ernment
74
THE CHRONICLE
merely Spanish-American republics to the south of us.
Historically, the legislative experiment of France with
a single chamber, after
1789, is at least impressive,
as indicating what
may result, in a great political and
social upheaval, from absence of any effective check
or balance in the State, such as a double chamber will
usually provide.
The aspect of the matter which is not so clear—per¬
haps it is too much to expect that it should be so, at
the present juncture—is just how far these various
statesmen and the political elements which they rep¬
resent would be willing to go in the vaguely outlined
reform of the House of Lords. Mr. Asquith’s state¬
ment that it will hereafter be the duty of the Liberal
party to take such measures that the House of Lords
will never repeat its action of the recent session, has
been rather widely interpreted to mean his intention
to construct a politically impotent Upper House.
But it is reasonable to ask, if this is the Premier’s pur¬
pose, why talk of reform of the House of Lords at all?
If the second chamber
were
to be shorn of all power
[VOL.
LXXXX.
roads, since the probable tenor of the President’s pro¬
posal in that regard has excited comment all through
the week and operated to bring about marked depres¬
sion in security values on the Stock
Exchange. On
Monday, as narrated in our article on the Financial
Situation, Mr. Taft, at the instance of Mr. J. P. Mor¬
gan, received an eminent and representative delegation
of railroad men, who came with the idea of
persuading
the President to modify his proposals as far as
possible.
From certain qualifying passages to be found in the
message it would appear that the visit was not alto¬
gether fruitless, though it is equally clear that the
essential features of the President’s plan and purpose
have been left unchanged.
To most of the President’s recommendations
servative public sentiment will not be inclined to
con¬
give
approval. But his views are expressed in a judicial
way, and there is at least one recommendation which
must be regarded as possessing no small degree of
merit. We refer to the proposal to establish a special
tribunal to be known
as
the “United States Court of
in
legislation, then certainly its present composition,
Comyierce,” to be clothed with exclusive original
objectionable as it may be from other points of view, jurisdiction in cases arising under the Inter-State
would be ideally appropriate.
A political house of Commerce Law. The main point to consider in con¬
legislature possessing no power of legislation, but en¬ nection with such a new tribunal is as to how it is to
dowed with social and hereditary prestige as an offset, be constituted. If it were to be
merely a political
would at least miss the absurdities which would in¬ body, like the Inter-State Commerce Commission
evitably surround a chamber chosen as if for serious itself, it would have to be looked upon with disfavor
public labors, and then forbidden to do any public and considered as possessing no utility whatever. We
work at all.
are glad to note that the kind of tribunal which Mr.
We should be reluctant to impute this meaning to Taft advocates would be
wholly free from criticism of
Mr. Asquith’s utterance.
He may easily have in¬ this sort. It would not be a political or partisan
tended to say that, with the House of Lords as now body. It would be a court in
every sense of the word,
constituted, the Liberal Party would, if victorious, constituted as the other courts are, only endowed with
endeavor to prevent a future obstruction of a Budget.
special work and special functions.- The railroads,
Other statesmen on former occasions—Mr. Gladstone therefore, could count
upon receiving fair treatment
among them—have given not wholly dissimilar in¬ and feel assured that all disputed matters coming be¬
timations of their purpose. But if the problem of re¬ fore the Court would be decided
according to principles
form is seriously taken up, and there are
of
many indi¬
equity and justice. The Inter-State Commerce
cations that it may be, then the really important ques¬ Commission
possesses none of the characteristics of
tion to answer will be, whether the power of the
Upper a court and its members have never displayed judicial
Chamber over concurrent legislation will not have to attributes or even manifested a desire to maintain a
be increased rather than diminished.
We are assum¬ judicial attitude.
They have always acted as the
ing, in this view of the case, a reform which should champions of the shipper, and in determining cases
make the second chamber fairly
representative, and coming before them have had a bias against the car¬
we recognize, even with this
prerequisite, that the rier. In effect, matters of controversy between the
placing of restrictions on that chamber’s power of railroads and their patrons have been pre-judged
initiating revenue legislation is a step in consonance against the former.
with much of modern government. But the
This defect is avoided in the proposed Court of Com¬
simple
proposition of reform in the membership of the House, merce. The President recommends that the Court
of Lords would involve in itself a more serious
view, be composed of five judges, designated for such pur¬
on the part of both Parliament and
people, of the func¬ pose from among the circuit judges of the United
tions and responsibilities of a house thus constituted.
States. Thus the judges would be the same in char¬
55
those who pass upon cases now considered in
the Federal courts, and no question could arise as to
their fairness and independence. Mr. Taft says that
acter
MR. TAFT’S
RECOMMENDATIONS REGARDING
RAILROAD REGULATIONS.
President
Taft
yesterday sent to Congress the
anxiously awaited special message submitting his
views and recommendations for amendment of the
Inter-State Commerce Law and for
modifying the
operation and effects of the Anti-Trust Law. We shall
leave the latter part of the message—that
is, the por¬
tion containing the suggestions for the Federal incor¬
poration of business concerns—for consideration an¬
other week, taking up to-day the part of the
message
dealing with the supervision and control of the rail¬
as
in order to
provide
enable this
new
necessary
a sufficient number of judges to
Court to be constituted it would be
to authorize the appointment of five addi¬
tional circuit
judges, who for the purposes of appoint¬
ment, he suggests, might be distributed to those cir¬
cuits where there is at the present time the largest
volume of business, such as the Second, the Third,
the Fourth, the Seventh and the Eighth circuits.
The Act should empower, he thinks, the Chief Justice
of the U. S. Supreme Court, when the business of the
Court of Commerce does not
require the services of
Jan.
THE CHRONICLE
81910.]
75
judges, to re-assign the judges to the circuits mum rate applicable to any transportation.” This
to which they respectively belong.
The sessions of the would obviously be very dangerous power to confer
Court of Commerce would be held at Washington, but upon the Commission. It would simply be giving it
the Court would have authority to hold sessions else¬ infinite capacity for making mischief.
The President also urges authorizing the Commis¬
where if found desirable. Its orders and judgments
would be final, subject only to review by the U. S. sion to postpone increases in rates. Here the railroad
Supreme Court, with the provision that the operation men have evidently persuaded Mr. Taft that the exer¬
of the decree appealed from should not be stayed un¬ cise of this authority might be liable to great abuse and
involve serious harm to the roads. Accordingly, the
less the Supreme Court should so order.
The advantage which establishment of such a court proposal is qualified, and it is provided that the
would give is that it would expedite judicial deter¬ Commission shall have power to postpone the date of
mination of all questions arising under the Inter- increase for a period not exceeding 60 days beyond
all the
That is of course a consum¬ the time when the rate was to take effect. But we
much in the interest of the carriers as of may be sure this would be simply the entering wedge.
State Commerce Law.
mation
the
as
The
sooner a disputed question is
settled the better all around. With reference to the
shippers.
In its very next annual report the Inter-State Com¬
merce Commission could be depended on to urge that
limitations which President Taft would put upon
the the time allowed for making the necessary investigation
power of the Court of Commerce in restraining the was not sufficient and to demand that it be given 160
acts and orders of the Inter-State Commerce Com¬ days or six months.
It would then be easy to have a
short
Act
mission, we are not in sympathy, but shall not discuss
passed to have the time extended. The next
that point here. Mr. Taft makes a further recom¬ step would be to say that the matter should be left
mendation which is to be heartily commanded. He entirely to the judgment of the Commission, and the
argues in favor of dividing the functions of the Com¬ time limit removed altogether.
mission. He well says that the present “ blending of
The President, furthermore, recommends that the
administrative, legislative and judicial functions tends Commerce Law “shall be amended so as to provide
to impair the efficiency of the Commission by clothing that from and after the date of its passage no railroad
it with partisan characteristics and robbing it of the company subject to the Inter-State Commerce Act
impartial judicial attitude it should occupy in passing shall, directly or indirectly, acquire any interest of any
upon questions submitted to it:”
He is evidently kind in capital stock, or purchase or lease any railroad
right in urging that all litigation affecting the Govern¬ of any other corporation which competes with it
ment should be under the direct control of the Depart¬ respecting business to which the Inter-State Commerce
ment of Justice.
In other words, the Inter-State Act applies.”
Such an absolute prohibition, it is easy
Commerce Commission should not act the part of to see, might do more harm than good. It might
tend not infrequently to prevent the completion of an
prosecutor.
The President would also allow the carriers to make existing system or the taking over of small roads
agreements with respect to rates. He points out that necessary for that purpose, since even a minor road
under the Sherman Anti-Trust Law any agreements useful to round out and complete an existing system
between carriers operating in restraint of inter-State often comes in competition at some point or in some
trade are unlawful. But, he adds: “In view of the degree with the larger road. We are pleased to see
complete control over rate-making and other prac¬ that the President does not intend that this provision
tices of inter-State carriers established by the Acts of shall be applicable to cases where ownership in a
Congress and as recommended in this communication, competing road now exists, in which event the New
I see no reason why agreements between carriers sub¬ York Central would be forced to part with its parallel
ject to the Act, specifying the classifications of freight line, the West Shore, and the Lake Shore & Michigan
and the rates, fares and charges for transportation of Southern to dispose of its ownership of the Nickel
passengers and freight which they may agree to estab¬ Plate. Doubtless what the railroad men said to the
lish shall not be permitted, provided copies of such President on this point had weight with him. At
agreements be promptly filed with the Commission, all events he takes pains to point out that the existing
but subject to all the provisions of the Inter-State situation has grown up under express legislative power
Commerce Act.”
conferred by the laws of many States and declares
We have enumerated first what we conceive to be the that “to attempt now to suddenly reverse that policy
commendable points in Mr. Taft’s suggestions regard¬ so far as it affects the ownership of stocks heretofore
ing railroad regulation by the General Government. so acquired would be to inflict a grievous injury not
Candor compels the statement that by far the most of only upon the corporations affected, but upon a
the President’s recommendations are of the opposite large
body of the investment-holding public.”
sort.
These recommendations are all in the nature of That statement is none too strong. It is the literal
extending the powers and functions of the Inter-State truth.
Commerce Commission, while -some of them propose
We have not the space to take up all of the Presi¬
dangerous innovations, and not a few appear to be dent’s recommendations seriatim. One of the re¬
clearly unconstitutional or, if not, involve an un¬ maining suggestions, however, we deem it important
warranted stretch of Federal authority. He would to notice, because it is perhaps the most objectionable
authorize the Commission to act
well
on
its
own
initiative
of the whole series.
We refer to the prpposal that the
railroads should not be allowed to put out any new
stock at less than its par value nor new bonds at less
than market value, and that the Inter-State Commerce
complaint in investigating rates and
practice and would empower the Commission
“beyond any question to pass upon the classifications
of commodities for purposes of fixing rates, in like Commission should be authorized to determine the
manner as it may now do with respect to the maxi¬
capitalization of railroads on reorganization. We
as
as
railroad
upon
THE CHRONICLE
?6
requirement that roads shall not put out
value is objectionable from
almost every standpoint. In the first place, it would
fVOL.
LXXXX.
think the
THE PROPOSED FEDERAL INCOME TAX
stock at less than its face
mean
interference with the affairs of the roads them¬
selves, and in the second place it would mean (if we
assume that the Federal Government really has the
right to go that far) interference with the rights and
prerogatives of the States. The whole matter is one
of policy which, if it cannot be safely left to the judg¬
ment of the companies themselves, should at least
be left to the States to determine, each according
5to its own needs and requirements. It might be sane
and reasonable to endeavor to enforce such
the
of the
a
rule in
of New England
and the Middle States and it might be the height
of folly to undertake to apply it in sparsely
populated districts in the remoter parts of the
case
thickly settled
areas
country.
Certainly, under such a law new railroad building in
the undeveloped areas of the West would receive a
setback. The United States possesses a greater
atnount of railroad mileage than any other country,
Severe
and
inconsiderable
portion of this mileage, par¬
ticularly in the newer sections of the country, was
obtained by the issue of stock for less than its face
no
AMENDMENT.
The
special message which Governor Hughes has
Legislature this week, separate and distinct
from his regular annual message, is a timely document,
inasmuch as it directs attention to the pending Amend¬
ment to the Federal Constitution intended to give
Congress authority to levy a general income tax. The
Amendment is of great importance, but had latterly
almost been lost sight of. Mr. Hughes opposes it, and
is the first prominent politician who has taken such a
course.
We could wish that his opposition were based
on broader grounds and had its origin in deep antago¬
nism to the principle of an income tax; but the message
will serve at least to bring to notice a feature of the
income-tax proposal to which we have frequently
directed attention in these columns, namely its allembracing character. The Amendment is expressed
in very few words, as our readers know, but, as they
also know, is exceedingly sweeping in character. It
simply provides that “Congress shall have power to
lay and collect taxes on incomes, from whatever source
derived, without apportionment among the several
States, and without regard to any census or enumera¬
sent to the
few instances the cost of the roads
tion/’
was
represented by the bonds, and the stock was given
Mr.
as a
bonus.
value.
In not
a
The effect of this
ment to the
was
to furnish
an
induce¬
Hughes’s objections to the Amendment rest on
the fact that the language is so broad that it would
permit Congress to tax income derived from State
and municipal securities. The Governor well says
the proposal is that the Federal Government shall
have the power to lay and collect taxes on incomes
from whatever source derived .” He points out that
the Amendment would not be limited by construction,
projectors to build the road. If now the
6% upon the actual amount
of money invested—if the projectors are to take all the
risks of loss inseparably connected with a new venture,
and to have no chance of gain beyond simple interest
on their money—the
prospect of getting further
since the words in terms are all-inclusive.
He argues
new roads in the undeveloped territory of the West
that the power to tax incomes should not be granted
mil be very slim.
Another objection is that in the case of companies |n such terms as to subject to Federal taxation the
whose shares sell below par, the effect would be to incomes derived from bonds issued by the State itself,
add unduly to the capitalization represented by bonds. or those issued by municipal governments organized
In the interest of solvency it might be better practice under the State’s authority. We cannot suppose,
to let a road put out stock at 60 or 70 rather than to he urges, that Congress will not seek to tax incomes
raise the money needed by the issue of bonds. Divi¬ derived from securities issued by the State and its
dends on stock can be omitted but interest on the municipalities. Congress has repeatedly, he asserts,
bonds Would be obligatory.
We cannot believe, endeavored to lay such taxes, and its efforts have been
however, that under the Federal Constitution Congress defeated only by implied Constitutional restriction
has the right to regulate new stock and bond issues. which this Amendment threatens to destroy. While
Corporations are the creatures of the State, not of the we may desire that the Federal Government shall be
United States, and it is for the State to prescribe the equipped with all necessary national powers in order
conditions of their existence. The rule would in any that it may perform its national function, we must
event be impracticable and impossible of execution. be equally solicitous to secure the essential bases of
Certainly,so far as the railroad confined its operations State government. The proposal is “to authorize a
within the State, the Federal Government could tax which might be laid in fact upon the instrumen¬
not interfere in its financial affairs.
If the New York talities of State government. In order that a market
Central wanted to lay a fifth or a sixth track beween may be provided for State bonds and for municipal
New York and Albany, or to acquire some additional bonds, and that thus means may be afforded for State
terminal and station facilities, could Congress step in and local administration, such securities from time to
and say how the capital was to be provided to obtain time are excepted from taxation. In this way lower
the needed facilities? These new facilities might be rates of interest are paid than otherwise would be pos¬
employed wholly in State traffic, or wholly in inter¬ sible. To permit such securities to be the subject of
state traffic, or partly in both. Who would determine Federal taxation is to place such limitations upon the
which was the case and where would the jurisdiction borrowing power of the State as to make the per¬
of the Federal Government begin and that of the State formance of the functions of local Government a
Government end? We wonder if the advocates of the matter of Federal grace.”
extension of the activities of the Federal Govern¬
What the Governor here says is undoubtedly true,
ment in this way have given these considera¬ although it is impossible to avoid the conclusion that
tions serious thought and are prepared to deal with the statement with regard to the performance of the
thorn.
functions of local government becoming “a matter of
return is to be limited to
11
Jan. 8
1910.]
THE CHRONICLE
77
grace” in the event of Congress having author¬ unfair in its operation. It would be inquisitorial in its
ity to levy a general income tax is decidedly over¬ nature, and hence un-American. It would subject the
drawn. Unquestionably the words “from whatever business man, the investor, and for that matter every¬
one else, to constant Government espionage.
source derived” are all-inclusive, and hence in the
Every
levying of an income tax income derived from State one would be called upon to render a statement
and municipal securities would not escape. 'As a of his income to the Government authorities. We are
matter of fact, the words are so all-embracing that the accustomed in this country to think that it is nobody’s
tax would apply even to income derived from United business what one’s income is, and, furthermore,
States Government securities, in which contingency that it is each man’s right and privilege to keep that
the States would be no worse off than the Federal knowledge all to himself if he so chooses. Under
Government itself. In a word, all classes of securities, an income tax that would no longer be possible. A
national and State, would be liable to the income tax. great many owners of small private corporations, never
We might go further and say it was undoubtedly the previously called upon to disclose their income or their
purpose of the framers of the Amendment that it should. business secrets, are just finding out what a corpora¬
In the event of a general in¬
To be sure, Congress might except income from U. S. tion income tax means.
Government bonds from the operation of the tax come tax, individuals and business partnerships would
(assuming that under such a broad grant of power experience a similar awakening.
Moreover, a general income tax would operate very
exceptions at all were possible), but so it might except
income from State and municipal securities. It should unfairly and could not be levied with equality and
always be remembered, though, that those who most justice. Concealment and evasion would be possible,
strenuously insist upon an income tax are desirous and would, we may be sure, be practiced on a large
above everything of reaching the “bloated bond¬ scale. The experience would necessarily be a duplicate
holder” and the wealthy classes, particularly those of that encountered to-day in levying the personal
who are so fortunate as to hold gilt-edged Government property tax. The scrupulously honest would pay it,
securities, national, State and municipal.
The tax and widows and orphans whose affairs pass through
advocates, therefore, we may be certain, would put the surrogates’ and probate courts would, of course,
forth every endeavor to prevent exceptions in favor of have to pay it, since there would be no means of con¬
holders of such securities.
Hence the arguments made cealment. Barring these and similar cases, the tax
by the Governor constitute sound and valid would be evaded wherever possible, and a constant
reasons for opposing the Amendment
apart from any premium be placed upon deception, false swearing and
others.
dishonesty. We know that in some of the European
States
an income tax has existed for a long time and
These other reasons, nevertheless, are much the
more
formidable, and it is unfortunate that the has been enforced with reasonable fairness. No very
Governor rejects them and thereby weakens the stand strong arguments, however, are deducible from the
he has taken against the measure. The ordinary experience of other nations. The fact that territorial
advocate of the tax, it is already apparent, will take areas in Europe are so very much smaller, alone makes
the Governor’s objections very lightly. He will say a vast deal of difference.
that Congress may be trusted to except State and
The income tax is a Bryan-Roosevelt proposition
municipal securities from the operation of the tax if it is and it is matter for deep regret that President Taft, in
deemed wise or politic that this should be done. To pursuance of his determination to carry out the
our mind one very good reason for
opposing a Federal Roosevelt policies, should have deemed it incumbent
income tax is that if an income tax is to be levied at upon himself to undertake to. make the tax proposition
all the State should be allowed to levy it for its own a part of the fundamental law of the land. The
benefit, the same as an inheritance tax, and each State corporation tax, with which so many persons are now
should be free to determine for itself whether such a struggling, was only a first step in the process. This
tax should be levied within its borders or not.
But tax is called an excise tax upon privilege, because if it
Governor Hughes expressly dismisses that ground were labeled an income tax it would run counter to
of objection, saying: “I am not now referring to the the decisions of the United States Supreme Court.
advantage which the States might derive from the Nevertheless, it is an income tax pure and simple.
exclusive power to tax incomes from property or to It is the intention that this tax shall remain limited
the argument that for this reason the power to tax to corporations only until the income tax Amendment
such incomes should be withheld from the Federal can be adopted and a general income tax levied upon
Government. To tha argument I do not assent.’* everybody—individuals, partnerships, firms and corAgain, Mr. Hughes is not opposed to the principle of a porations.
Federal income tax. On the contrary, he puts himself
Governor Hughes thinks the tax Amendment should
on record as a believer in the tax.
Here is his declara¬ be opposed because in its language it is all-inclusive,
tion on that point: “I am in favor of conferring upon and hence would apply to income derived from State
the Federal Government the power to lay and collect and municipal securities. Every citizen and individ¬
an
income tax without apportionment among the ual, however, should antagonize it because the lan¬
States according to population. I believe that this guage is so broad and all-embracing that it would
power should be held by the Federal Government so as apply to him personally. There is no reason in the
properly to equip it with the means of meeting national world why any one should vote deliberately and con¬
exigencies.”
/
sciously to give the Federal Government power and
is
It
our opinion that the Federal income tax should
authority to levy a tax upon himself. The only reason
be opposed both because it is an encroachment upon why the measure has such a large degree of support
the prerogatives of the State and because it is unneces¬ from politicians and legislators—it passed the United
sary and would be mischievous in its tendency and States Senate by an absolutely unanimous vote and
Federal
THE CHRONICLE
78
the House of
[VOL.
LXXXX.
Representatives by a vote of 318 to 14 cordial acceptance of the gift and his recommenda¬
—is that the idea is being sedulously cultivated that tions for carrying it out will meet general approval.
such a tax would apply only to the very rich. It is
The renewed recommendation that telegraph and
thought that this should make it appeal to the masses. telephone affairs be turned over to the Public Service
But the masses should not allow themselves to be Commission was expected and had been discounted.
deceived. Governor Hughes is rendering a service in The Legislature will probably take no action upon
laying stress upon the broad language of the Amend¬ this, at least until the investigation ordered last year
ment.
Given such a broad, unlimited power, there as a compromise has been completed and the com¬
can be no assurance that any one will be
exempt from mittee in charge has submitted its conclusions. The
the operation of the statute. The corporation tax argument that this additional inclusion is due to con¬
went on the statute book by default, because there sistency and uniformity is not
suggested in terms, but
had been so much talk under Roosevelt of trusts is clearly enough implied. It is, however, a plea of
and large corporations that few thought it necessary no value; as well might it be said that a man who has
to inform themselves with regard to the matter, but lost one leg ought to lose the other, for the sake of
took it for granted that the tax was aimed only at uniformity. “The events of the last year (says Gov.
the large corporations and industrial combinations Hughes) have served to emphasize
thejimportance of
engaged in inter-State trade. Now corporate mana¬ adequate supervision and regulation, and I know of
gers are being rudely awakened to the fact that the no sound reason for excluding these activities from the
corporation tax applies to the smallest and meanest established policy of the State.” This is negative rea¬
corporation in the land, even if it operates exclusively soning, and the burden of proof rests rather upon in¬
within State boundaries.
clusion of these than upon exclusion. Most thought¬
The same mistake should not be made with reference ful persons who are also observant will dissent from
to the proposal for a general income tax.
We must the Governor’s opinion that experience commends his
say there has been thus far remarkable apathy con¬ plan so far as to suggest extending it, and will see the
cerning the Amendment. The politicans are taking reasons which he does not see for resting where we are
this as meaning assent on the part of the populace. before experimenting further. Moreover, it is some¬
No doubt most persons entertain the idea that in the what premature to call this policy
“established”; it
event that Congress gets authority to levy the tax, has not been fully tried, it has
yet to pass judicial re¬
the law will be so framed as to exempt small incomes. view, and it has already been treated
by the courts in
But again we say the language is so broad there can a manner which at least suggests doubts.
be no assurance that such will be the case.
The man
There will be general concurrence in what Gov.
with an income of $20,000 a year may think that it is Hughes says regarding the absurd and mischievous
only going to apply to persons having an income above manner of treating the vitally important matter of
that figure, and the man with an income of $10,000 constitutional amendments, and as to the need (dis¬
may think that the limit will in any event not be fixed tinctly shown again at the late election) of a simplified
so as to strike him,
while the man or woman blessed form of ballot. The familiar and persistent urging of
with an income of only $5,000 may imagine that the direct nominations scheme stands on another foot¬
no levy will be made
upon his or her wages or stipend ing.
Provided this would effect the desired object,
or income.
But one and all may be mistaken. There no good citizen would object; but experience casts
is absolutely no limit, under the Amendment, either as great doubt upon the practical
working. Doubtless,
“we
must
regards size of income or the source from which
ultimately deal with the facts-of our own
derived. Even the laboring man cannot feel sure that experience,” but every sensible man counts as much
he will be let off. In Europe it is the custom to fix upon observation of others’
experience. “Variant
the limit of exemption at very low figures—$1,000 conditions in the different States
(says the Governor)
and even lower. The labor unions, which are now may be useful for the
purposes of general history,
apparently so enthusiastic about the Amendment, may but can afford slight help in the solution of our own
find out when it is too late that, like the Sherman problems.” Here seems to
speak the impenetrable
anti-trust law, it is a measure that can be employed theorist. For the palpable fact is that the conditions
to the undoing of their own members.
The Amend¬ in the neighboring States are not “variant” from our
ment to become effective requires the
approval of own. Human nature is the same and the desires and
three-fourths of the States. Only one State has as methods of politicians are the same—there as
here;
yet passed on the measure, namely Alabama, and therefore an electoral scheme which proves practically
there the Amendment was adopted without a
dissenting a failure elsewhere has no just promise of doing better
vote in either house of the Legislature.
Organized in New York.
The recommendations of the message are in general
opposition to the measure should at once be begun in
all the States. Delay may prove dangerous.
sound, however; those concerning labor, aliens, pub¬
lic institutions and municipal government, while they
are general rather than specific,
may be mentioned
THE GOVERNOR’S ANNUAL MESSAGE.
for commendation. The reasons why the pending
Gov. Hughes’s third annual message is well and
income tax Amendment should not be ratified are stated
clearly written, is less radical than usual, and might be in a separate message, which we have discussed in the
unreservedly commended if he were able to free him¬ preceding article. We may repeat, however, that
self from a few persistent theories.
As to the consid¬ language could not make a grant of taxing powers
erable portion devoted to stating the situation pre¬ broader and more
unqualified than does this Amend¬
sented by the gift of land and money by Mrs. Harriman ment; it virtually
empowers Congress to do anything
for park uses in conjunction with the work
it
pleases with any income, of any nature or from any
already
accomplished by the Palisades Park Commission, his source, found in anybody’s hands, and the rate of tax
(4
Jan. 8
the subject of tax.
The only
wonder is that any intelligent person, upon serious
thought, can favor such a sweeping grant, and Gov.
Hughes has done well in pronouncing against it, even
if his grounds of objection are not as broad as they
might be.
is left
unlimited
as
,
as
FAILURES IN
1909.
signal recovery in 1909 from the condition of
depression and stress that characterized our com¬
mercial and industrial affairs during most of 1908 is
further clearly reflected in the record of failures for
the year. It does not follow, of course, that a rela¬
tively normal basis of solvency has been returned to
as regards number of failures or amount of liabilities,
The
but that the crisis in
our
as
that of 1907 leave
an
Monetary
spasms
after-effect that only
fully efface; otherwise the failure record of
1909, comparatively reassuring as it is, would have
been more favorable. By that we mean that a fair
proportion of the commercial disasters of the last year
was made up of concerns that weathered the diffi¬
culties of the two preceding years but were so weakened
financially that they finally had to succumb.
In referring to the recent commercial and financial
crisis the fall of 1907 is usually given as its beginning;
but even before the panic that then occurred had begun
to exert its baneful influence, there was evidence of
In fact, as early as June
stress in business circles.
time
contrasts with
$222,315,684 in 1908 and $197,385,225
in 1907, in each case exhibiting a very important
decline. But, as intimated above, this year’s tola
is above the average of earlier years.
Furthermore
as going to show the preponderance of comparatively
small failures in 1909, the average liability per failure
in that year was only $11,954, and therefore much less
than in 1908 or 1907, or in the majority of years back
to 1875, and consequently below the mean for any
extended
period.
We have remarked above that with the
beginning of
July 1909 the improvement in the situation became
most clearly defined,and the truth of that statement
is found in the following, which covers the results by
quarters for the last two years.
FAILURES BY Q VARTERS.
can
1908
1909
affairs that the fall of 1907
brought has been safely passed.
such
79
THE CHRONICLE
1910.]
Average
Average
First
quarter.
Second "
Third
“
Fourth
“
No.
Liabilities.
3,850
3.257
*44,460.950
44.080.423
29,094,498
36,967,594
..12,924
*154,603,465
..
.
..
.
—
.
Total
..
2,981
2.836
No.
Liabilities.
*11.522
4,909
*75,706,191
*15,422
14,787
48.668.642
55.302,690
12,808
11,111
3,800
3,457
3,524
42,638,161
15.9*7
12,099
*11,954
16,690
*222.315.684
*14.170
Liability.
9.737
Liability.
review of the classified statement of
failures, weiearn that disasters were greatest in trading
branches, the liabilities in that division totaling $69,094,768, against $91,661,957 in 1908 and $58,698,148
Passing to
in
1907.
a
The indebtedness
of manufacturers who
forced to the wall
aggregated $64,716,548, as
compared with $96,829,015 in the previous year and
$106,640,444 in 1907, and liabilities in other lines
(which includes brokers, transporters, &c.) totaled
$20,792,149, against $33,824,712 and $32,046,633 re¬
1907 there was a notable increase in the volume of
spectively.
insolvencies, and from that time down to near the
Financial bankruptcies were of course much less in
close of the following year the record of failures, number than in 1908 or 1907 and covered a very
month by month, both as regards number and the
decidedly smaller total of liabilities. It is, moreover,
indebtedness represented thereby, was much above
worthy of note that the 1909 figures do not make a
the normal, and for the full year 1908 the number of
very unfavorable comparison with either 1906 or 1905.
failures made a new high record of insolvencies. With
regard to the embarrassments of financial insti¬
Moreover, the aggregate of liabilities for that year tutions, it is hardly correct to refer to them as failures,
exceeded those for any twelvemonth period back to
as, with rare exceptions, and especially so in 1907 and
1896, being in turn surpassed only four times since 1908, they arose through conditions not affecting the
1874.
While that was the situation taking 1908 as soundness of the
corporation,and resumption in most
an entirety, there was evidence of improvement in
cases quite speedily followed
suspension. Still, as
our affairs in the closing months of that year, the
their embarrassment is a part of the history of the
volume of liabilities represented by failures appre^
year, we include them in the compilation below as a
ciably shrinking, although the number of disasters matter of record.
were
continued
large.
The opening quarter of 1909, although making a
very satisfactory comparison with the like period of
1908, disclosed a condition quite less favorable than
the average of earlier years, a noticeable feature being
the preponderance of small tradesmen forced to the
wall.
In the second quarter,
also, the situation was
quite similar, but there was a decided decline in the
number of failures. By July, however, the commercial
horizon had cleared perceptibly and from that time
on the monthly records of disasters conformed quite
nearly to what might be termed a normal basis of
TOTAL FAILURES.
Number
Liabilities
—
1908.
1907.
Manufacturing... 3.030 3,827
Trading.
9,524 11,272
Other
370
591
2,913
8,419
*64,716,548
69.094,768
393
20,792,149
1909.
In
1907.
*154,603,465 *222,315,684 *197,385,225
24,177,128 123,126,956 233,325,972
13,001 15,870 11.857
*178,780,593 8345.442,640 *430,711,197
77
Banking
Total
1908.
$96,829,015 *106.640,'444
91,661,957
58,698,148
33,824,712
32,046,633
132
12,924 15,690 11,725
Total
1909.
common
180
with the United
States, failures returns
improve¬
for the Dominion of Canada for 1909 reflect
industrial situation.
For the twelve months of 1909 the disasters num¬
ment
bered
in
the
commercial
and
only 1,442, covering liabilities of $12,982,800,
comparing with 1,640 and indebtedness of $14,failed firms and. the aggregate liabilities for the 931,970 in 1908 and 1,278 for $13,221,259 in 1907.
year, while much below those for either 1908 or Debts in manufacturing lines totaled $3,933,938,
1907, are greater than for either 1906, 1905 or against $5,976,498 in 1908 and $6,667,452 in 1907;
1904.
liabilities of traders were $7,867,287, against $8,242,The total number of failures in 1909, according to 436 in 1908 and $5,756,651 in 1907, and other insolven¬
Messrs. R. G. Dun & Co.’s compilations, was 12,924, cies covered obligations of $1,181,575 in 1909, against
against 15,690 in 1908 and 11,725 in 1907. The aggre¬ $712,856 and $797,156 respectively in the preceding
gate liabilities for 1909 at $154,603,465, moreover, two years.
insolvencies.
At the
same
time the total number of
and
80
THE CHRONICLE
[Vol.
lxxxx
.
the
CLEARINGS AND SPECULATION IN 1909.
following summary, showing clearings for New
York, the total outside of New York, and the aggre¬
'Recovery from the condition of depression that gate for the whole country for the seventeen years
prevailed during the greater part of 1908 is the situa¬ 1893 to 1909 inclusive.
tion disclosed by the bank clearings for the calendar
Inc.
Inc.
Clearings
Inc.
Year.
New York
Outside
Total
year 1909.
At least that is the conclusion that seems
Dec
New York.
Clearings.
Dec.
Dec.
Clearings.
warranted from the figures now before us. It has, of
$
%
s ■"
%
$
%
1909
103.588,738,321 +30.7 62.020,141.102 + 167 165.608.879.423 +25.1
course, happened at times, as in 1901 and 1905, that 1908
79,275,880,256 —9.1 53,132,968,880 —8.4 [132,408,849,136 —8.8
1907
87,182,168,38x —16.7 57.843 565,112 + 4.8 145,025,733,493 —9.3
the grand aggregate of clearings has been largely in¬ 1906
104,675,828,656 + 11.6 55,229,888,677 + 10.1 159,905,717,333 + 11.0
1906—... 93,822.060,202 +36.7 50,005,388^239 + 13.9
143,827,448,441 + 27.7
creased by a very material augmentation in stock 1904
68,649,418,673 + 4.i 43,909,594,342 + 1.3 112,559,013,015 +3.0
1908
65,970.337,965 —13.6 43,238,849,809 +3.8 109.209,187,764 —7.4
76,328,189,165 —3.9 41,695,109,575 + 6.7 118,023,298,740 —0.4
speculation at New York, just as an important decline 1902
1901
79,427,685,842 + 50.9 38,982.329,340 + 16.6 118,410,015,182 +37.6
or
in share transactions
resulted in
here,
as
in 1902, 1903 and 1907,
decrease in
clearings,notwithstanding
due to ordinary
in the previous
year.
In 1909, however, evidence of improvement in
business was constantly apparent in bank clearings,
a
that in each instance the exchanges
mercantile business were larger than
and has been confirmed
by the record of railroad
earnings, building operations, iron production, &c.
There was also, it is true, greater activity in
speculative transactions, but the increase over the
previous year has not been great enought to make
any important impression on clearings.
Furthermore,
each month of the year has given a larger total of
clearings than the corresponding month of 1908, and
since the beginning of April there has been
improve¬
ment even as contrasted with
1907.
Moreover,
almost every dty of the 127 included in our
compila¬
tion shares in the gain recorded over 1908 and in
many instances the increases are notably large.
The aggregate of clearings for the whole
country for
1909 reached $165,608,879,423, against
$132,408,849,136 in the previous year, $145,175,733,493 in
1907 and $160,019,717,333 in 1906, the last-mentioned
total having been the record up to 1909. The
gain
over 1908 is 25.1%, over 1907
14.1% and over 1906
3.5%. At New York there is a gain over 1908 of
30.7% and over 1907 of 18.8%. As compared with
1906 there is a trifling decline (1.0%),
which, however,
should be occasion for no surprise when
cognizance is
taken of the fact that in that year stock
speculation
was a much more
important factor in the making of
clearings than in the year just closed, the total of
sales then having been the heaviest on record;
As
regards the comparison with 1908, important gains
have been the rule month by
month, and though in
one or two instances
greater activity on the Stock
Exchange has served to increase clearings, it has not
been to such
an
extent
as
to obscure the real situation.
1900
1899
1898
1897
1896
1895
189*
1893
52,634,201,865
—13 4
60,761.791,901
41,971,782,437
33,427,027,471
28,870,775,056
29 841.796,924
24,387,807.020
31,261,037,730
+ 44.8
+ 25.6
+ 15.8
—3.3
+ 22.3
—22.0
—14.7
Particular interest
account of the
33,436.347,818 + 0.5
33.285.608.882 + 23.9
26,854,774,887 + 12.6
23,802,043,485 + 6.4
22,375,548,783 ! —4.2
23,338,903,840 + 10.1
21,072,251,587
22,882,489,378
—7.6
—9.4
or
86,070 549,683
94,047,400,783
68,826,557,324
57,229,070,956
51,246,323,839
53,180,700,764
45.460.058.609
54,143,527,108
—8.5
+36.6
+ 20.2
+ 11.7
—3.7
+ 16.6
—15.0
—12.5
attaches to the
foregoing on
showing made by the clearing-houses
outside of New York. From less than 13% billions
of dollars in 1885, clearings had increased to
nearly
23 billions in 1893 and in the year just closed
aggre¬
gated over 62 billions. Much the greater part of the
augmentation is due, of course, to the multiplication in
the number of clearing houses, which now is
126, as
against 28 in 1883. But, contrasting the aggregate
for that 28 in the earlier year with the total the
identical cities give for 1909, we have a gain of
284%,
and that percentage is,
broadly speaking, a fair
measure of the business
expansion in the interim.
We have referred above to the importance of stockexchange dealings as a factor in bank clearings,
especially where from year to year there is any ap¬
preciable divergence in the amount of the transactions.
We have also adverted to years when
large increases
or decreases in the volume of
trading at New York
have tended somewhat to obscure the true mercantile
situation as measured by the totals of clearings. To
moderately greater extent in 1909 than in 1908
clearings at this city were swelled by the speculative
transactions, share sales as well as bond dealings
having been in excess; but the increase has not been
so strikingly large as to affect the
general conclusion
already expressed. A compilation showing the annual
share dealings since and including 1888 is subjoined.
a
NUMBER
'•
AND VALUE OP SHARES SOLD AT NEW YORK STOCK
EXCHANGE.
Stocks,
Year.
1909—
190819071900—
1905-
1$ fact, gains in clearings in November and December
1121::
were in the face of a much smaller stock
speculation in 19021909 than in 1908.
or
1901—
Shares.
Aver.
Price.
Values
(approximate)
Year.
Stocks,
Aver.
Shares.
Values
Price.
(approximate)
214,632,194 97.5 19,142,339,184 1898- 112,699,957 72.7
,197,206,346 80.6 15,319,401,790 1897- 77,324,172 67.0
196.438,824 85.8 14,757,802,189 1896- 54,654,096 65.2
284.298j.010 ,94.2 23,303.101,482
60,683,232 60.3
263.081,156 87.3 24,295,723,688
49,075,032 64.2
187,312,065 69.9 12,061,452.399 1893- 80,977,839 00.3
161,102,104 73.2 11,004.083,001 1899— 85,876,092 03.5
183,503,403 79.9 14,218,440,083 1891- 69.031,689 57.1
265.944.659 79 0 20,481,960,551 1890— 74,282,885 60.2
138,380,184 69.2
9.249,285,109 1889- 72,014,600 61.0
176.421,135 78.6 13,429,291,716 4888- ' 66.170^106 62.fi
}H5::
9
8,187,413,985
4,973.553,065
3,329,969,940
3,308.338,604
3,004,942,769
4,550,260.910
4.874,014,262
3,812,247.419
3,977,004,103
Furthermore, as the aggregate 19004.059,231,891
1899volume of business on the Exchange
3,539,519U43
for the full year
was but moderately
larger than for 1908, the increase
Railroad and miscellaneous issues of a
par value of
of 30.7% over that year comes close to
measuring the $1,279,404,100 were dealt in, an aggregate 280 millions
gain in clearings ascribable to the augmentation in of dollars heavier than that of 1908 and 265 millions
volume of mercantile business.
Outside of New York, also, the 1909
aggregate was
•
larger than that for 1908, having been 62
of
an
dollars, against 53 millions, and there is,
increase
over
1907 and
the general result for 1909
over
1906
as
millions
moreover,
well.
With
ip
excess of the previous record of 1,014% millions
made in 1904. On the other hand State and Govern¬
ment bond sales, including Japanese,
Mexican, Cuban
and
South American issues, totaled only
37%
millions, against 82% millions in 1908 and about
some
favorable, it should be 25 millions in 1904. The year's total sales of bonds
unnecessary to refer to the showing made by individual of all kinds at New
York, however, exceeded any
cities. Suffice it, therefore, to
say that there are earlier aggregate, having been
only a little less than
many conspicuous percentages of gain which the 1,317%
millions, against 1,081 millions in 1908 and
compilation on page 67 of the “Chronicle” of January 8 1,040 millions in 1904.
Activity in bank shares was
fully discloses. Without further comment we presont also a feature of 1909, the stock of several
so
prominent
Jan. 8
THE CHRONICLE
1910.]
SI
atjQ
i
having been quite extensively traded in smaller than in 1908, the increases in clearings reached
appended table gives the details of 13.6% and 10.1%, respectively.
the stock, bond and bank share dealings for the last
With regard to the various groups into which we
two years.
have divided the cities, only passing reference is
,
-'va
necessary.
It is enough to say that the most con¬
Twelve Months 1909.
Twelve Months 1908.
DescripHon.
spicuous percentages of gain are to be found in the
Par Value
ActueU
Aver.
Par Value
Actual
Aver.
Value.
Price.
Quantity.
Value.
Quantity.
Price
Middle and Pacific sections but that all groups make
Stock fsh’s.
214,632.194
197,206,346
\Val_ $19633,979,1501 119142,339,184 97.5 $17694.247,800 $15819.491,797 86.6 a very favorable showing.
The table of clearings by
RR. bonds 11,279,404.100 11,248.052,334 97.5
$999,025,800 $885,406,197 88.1
■Gov't bds.
$771,200
$850,106 110.2
$521,820
$573,491 109.9
groups, for each quarter of the last six years, is now
State bdau.
$37,115,700
$36,800,078 99.1
$81,713,500
$85,123,684 104.2
Bank st'ks
$425,250
$11046,958 246.2
$226,500
$455,583 200.3
appended.
institutions
The
times.
at
„
or
Total....
or
$20951,686,400 $20429,098,660
97.5 $18775,735,420
$16291,050,752 86.8
The average
price of the stocks dealt in during the
year, as indicated above, denotes that transactions
have been on a higher average basis of value than
heretofore.
As a matter of fact the great majority
of stocks dealt in at the New York Exchange made
advances during the course of the year.
As stated above, the total of bank clearings outside
of New York, as well as for this city, was greater than
for the previous year, or, in fact, any earlier year,
and it is almost superfluous to remark that the various
cities and sections quite generally shared in the
increase. This will be seen by consulting the annexed
compilation, which indicates the course of bank
clearings at a number of leading cities for December
Clearings Reported.
(000? omitted.)
(1909190819071906..
■
Total other
Middle
19051904-
.
(1909..
14,901 13,621
774
8,812 13.577 156,102 124,545 136,762 152,626
611
708
9,507
8,414
7,864
7,395
Total all
15.843 14.395
Outside New York. 5,936
5,129
9.423 14.285 165.609 132.409 145,176 160.020
4.073 5,057 62,020 53,133 57,994 55,344
942
4
Another table
have
Total
Year.
$
$
8
25.822,682 25,484,556 29.022,057
17 811.268 19,524,685 24.792,581
21.371,556 20,282,482 19,046,672
2,906,515
2,680,911
3,410.094
3,392,123
2,844,150
2,383.860
3,172,816
2,368.358
1,993,691
2,734,726
3,502,746
3.415.476
3,107,080
2,452,473
1905..
2,456,S88
2,108,959
L1904-
1,823,408
2,366,296
1,985,226
2,346,523
2,277,983
2,166,457
1,855,803
'1939..
19081907Total
Middle West.. 1906..
1905-
4 655,246
4,788,990
1908Total
New
Fourth
Quarter.
WHS
87,182,168
25,152,486 24,403,559 27,179,926 104,675,829
1905.. 23,584,452 23,300.154 20,679,257 26 258,197 93,822.060
,1904.. 14,925.334 14,203,962 15,204,667 24,315,456 68.649,419
New York
1907England. 1906..
119041909..
1908..
•I907
1906—
—
Total Pacific
19051904—
(1909..
19081907..
19061905-
Total
Other West-..
2,619,964
4,038,266 4,090.625
4,395,913 4,549,767
3,978.641 3,935.899
3,529,952 3,603,571
3,196,662 3.234,262
1.057.634 '1,170,600
889,712 ■* 928,382
1,207,478 1,180,829
1,025,785
769,997
816,752
734,759
628.380 .684,232
•
1,455,375
1,249.712
1,213,449
1,035,241
899,463
842,147
[1904[1909..
1908..
! 19071906..
Total Southern.
1
1905..
11904..
2.172.893
1,926.684
2,126,158
1,974,196
1,699,700
1,762,981
1/450,752
1,215,742
1.282,194
1,012,388
925,623
782,080
2,037,332
1,719,081
1,955,212
1,790,197
1.670.575
1,448,075
[1909.. 37,874,864 40,809,468
1908— 29.926,324 3Q»48$^974
1907.. 41,504,514 36.189.727
1906.. 41.802,732 38,358,426
1005- 35,401 435 35,590,212
11904.. 25,562,772 24,611,087
*■
-
Total all
■
3,181,598
2,803,691
3,259,576
3,166,438
2,955,868
2,453,529
3,696,244
2,890,939
3,154,647
3,563,196
3,843.722
3,023,287
2,285,148
1,999,174
2,173,489
2,138,411
2,040,844
1.724,455
2,643,516
2,386,106
2,134,607
2,572,452
2,373,469
2,149,955
4,800,625
4,082,140
4,457,819
3,844,656
3,553,411
3,226,923
5,118,538
4,548,444
4,083,140
4,346,612
4,051,192
3,627,978
1,231,825
1,020,146
1,148,632
1,018.472
870,357
661,988
1.389.087
1,110,518
976,668
12,957,173
11.110,267
13,327 058
13,531,233
12.053,826
10,313,194
9
613,318
8,364,197
9,274,583
9,445,734
8,689,729
7,5*3,621
19,363,399
16,759.475
17,466,639
16,105,808
14,738.126
13.285,825
4,849,146
3,948,758
1,225,383
4,513,607
4,030,637
969,156
774,871;
3,391,024
2,699,471
1,495,087
1,282,922
1,291,206
1,028,123
938,936
843,551
1,855,165
1,536,626
1,384,472
6.256,379
1,151,042
1,049,224
3.915,084
2,039.435
1,754,425
1,901,694
1,694,366
1,597,465
1,412.180
2,731,066
2,265,079
2,107,298
2,291,453
2,052,865
8.980,726
7,665.269
8.090,362
7,750.212
7,020,605
1,917,290
6,540.526
5,285,002
5,171,321
4,351,264
1,275,512
3,517,002
40,468,274 46.456,273 65,608.879
32,358.666 39,638.885 132,408,849
34,463,706 32,867,726 145,025,783
37.295,025 42,451,534 159,905,717
32,638,158 40,109,643 143,827,448
25,537,093 36,848,061 112,559,013
(1909— 14,616,021 14.986,786 14,983,718 17,433.616
11908— 12.778.978 12,673.766 12,732.981 14,947,303
1907.. 14,973,056 14,818,171 14.231,284 13,821,054
Outside
New York
62.020,141
63,132,968
57,843,565
1906.. 13,862,874 13,202,940 12,890,466 15.274.608 65,229.888
[1905- 11.816,983 12,290.058 11,956.901 13,041,446 50,005,383
11904
10,637,438 10.406,925 10,332,425 12,582,896 43,909,694
—
Total
Other cities
Third
Quarter.
(1909-. 23.258,843
1908.. 17,147,346
1907.. 26,531,458
1906.. 27,939,858
...
—
Second
Quarter.
$
and twelve months for each of the last four years.
BANK CLEARINGS AT LEADING CITIES FOR DECEMBER AND THE YEAR.
-Dccember-Jan. 1 to Dee. 311909.
(000.000s
1908.
1907.
1905.
1909.
1908.
1907.
1903.
omitted.)
S
S
$
$
$
S
$
$
New York
9,907 9,266 5,350 9,228 103,589 79,276 87,182 104,676
Chicago
1.134
815
1,225
1,007
13,782
11,854 12,088 11,047
Boston
772
720
517
719
8.440
7,339
8,135
8.335
747
571
Philadelphia
493
668
7,022
5,938
7,161
7,687
St. Louis
323
298
246
272
3.442
3,075
3,166
2,973
234
183
230
Pittsburgh
203
2,361
2,065
2,744
2,641
San Francisco
194
152
203
129
1,980
1,757
2,134
1.998
Baltimore
146
121
104
131
1,470
1,241
1,473
1,446
Cincinnati
114
123
91
111
1,348
1.230
1,362
1,310
Kansas City
223
181
123
128
2,396
1,848
1,649
1,332
Cleveland
83
67
64
75
877
750
897
838
New Orleans
107
93
96
114
904
786
957
1,020
107
98
Minneapolis
102
102
1,030
1,057
991
1,158
Louisville
68
64
56
37
654
580
645
650
71
60
Detroit
55
57
768
668
712
670
Milwaukee
55
52
44
45
603
548
562
493
Los Angeles
65
53
28
53
673
503
582
579
Providence
33
28
38
399 '■
337
40.
390
397
Omaha
62
59
42
46
735
602
568
504
Buffalo
43
36
36
32
468
409
445
396
St. Paul
48
45
46
41
518
484
485
419
41
Indianapolis
38
25
35
421
380
399
366
Denver
41
41
31
35
466
410
408
350
Richmond
38
30
27
361
322
27
299
303
27
32
Memphis
27
28
287
253
249
24$
Seattle.
41
31
43
56
587
489
429
486
Hartford
18
15
13
16
184
167
183
184
Salt Lake City—
33
29
13
33
337
292
257
288
First
Quarter.
—
While at no time was there that conspicuous activity
in stock speculation at the New York Stock Exchange
that was noticeable in 1906, transactions were of quite
prepared covers the aggre¬
satisfactory volume from month to month, and, as
gates of clearings, month by month and quarter by
already stated, upon a comparatively high basis of
quarter, for the whole country and outside of New values for representatives issues. Without further
York :
comment we give the following, showing the share
MONTHLY CLEARINGS.
transactions for each month and quarter of the last
we
v
Clearings, Total Aft.
Month.
1909.
1908.
%
,
<§..
Jan
Mb
Mch
„„
--
.
9.
,12.606.397.179
JSS-:
9.788.960,821
$6,788,668,883 30,480,962.6eV
6 moa.
78.684.504,676
1M50.296&01
13,494.088.282
13.523,718,$49
6,119,649,050
+$.8
60.411.297.806
M.683,067.658
10.258.939.077
11.123,659.86*
m
32,465,666,361'
+W
.
Nmatter
ad*
tJM
14,975,986^10
12,669.694.611
+1*4
25,452,683,626
MttSi
4.464,979.899 tin
4.807.150.872
5,045,339,762
mm& m
+lo.i
+ 16.4
15.843,243.961 14,394,826,531 +16.1
*.798.872.871
6,698.238.18
6,036,*05,156
4j9l2.S21v$20 + 18.0
4.799,242.503 + 18.7
5.138.546^012 + 154
4th qr. 46.456.273,215 39,531,885,029 + 17.5 17.433,616,211 14,846,803,936 +17.8
Year
it*®.
1155608,879,423 l324'08,S49.lS6
-
.....
i
c:
+ 25.1
62,020.141.102 53,133,968,880
+
16.V
’)
It will be observed that in every month a gain was
recorded and that evhti in November and December,
stock transactions
at
New York
were
much
190*.
Mth.
$.287,919,982
14,^83,545,427 12,839.981.319
Oct
15.851,214.417 12,146.793,193 +30.4
Nov- 14,761,814,837 12,990.265,305 + 13.6
..
--.i
ll91526b6,Zrt8 92,876.964,107 4-28.3- 44,586,524,891 38,292,664.945
3d qr. 40,$68,101,532
Dee
8ALES OF STOCK AT THE NEW YORK STOCK EXCHANGE.
%
t\n
2d qr.
9 mbs.
1908.
wm
At
S$t-_
166®.
14.035.198.325 11,373,873.175 +11.4 5,150,898.630 4,623.598,218 +11.4
ll,2i«,29!M89 8.7*^601441 +28.2 4,350;644,965 8.871,470,816 +124
1st
3tt
two years.
Clearings Outside New York.
Jan
Taim
l
Par.
Number
Values.
AWkA.
Actual.
Ptir.
-
reb.
Mflh,
1J40.583.900 1,175,4*9,7*6 15)999.255 1,387,712,7251 .014,698w$37
istoir n.mjm 3,992428,175 3,897.®W .748 42.373.856 3jH7Jlfi,425S!,(S4D .4*8.906
19,055,618
11.648.123 1.024.180.450 782.948,479
V 16.495.230 j.719493.800
1,478,017.600 1,410,74$,914 2D^7GiB® 1,859,981JOfiOl ,470.474418
1,647.943,217
June 20.322.230 1,882.256.850 1.815,478,974 9.052.437
2dqr
mm
w
Sept.
tMESR
gggjft l’,249’.522[675*
1.699,430400]
5.194.278.366 50.321.327 4,506,623,650^1.034,324,962
9 m’« 156562795
13876.404,219
Oct. 21.709.614
2,000,046,207
Nov. 18.769,870 L«97436^75
gSJ&H
17.560,015
771.664.685
1.557,670,8751 485 [649[298
3d qr 57.426,423 5.230,374,150
Dec.
857,496,500
5,079,468.250 4,874,171.105 42,275,582 3,787.558 D00S1,025,092,980
!|!S
1.5921990,40c W 23SS2SS
4thqr 58,069,399 5.331/799.575 5,266,934,965 62.235.581
Year 214632194 19633.970,15C 19142,839.184
11861.498,075
1,302,239,375
2,989,941,550
2,140,577,800
KRfl
5)832,^49,725
5,610,6(24,889
197206^46 17694,247,800 15319,491.797
..
.
,
82
THE CHRONICLE
Stock
exchange operations outside of 'New York
1909
were
also characterized
by somewhat
greater activity than in 1908 or 1907. Boston reports
dealings of 15,507,303 shares and $32,305,820 bonds,
against 13,002,235 shares and $39,828,800 bonds in
1908, 14,308,687 shares and $7,682,700 bonds in
in
1907 and
18,297,818 shares and $8,695,310 bonds in
Chicago 1,623,495 shares and $14,800,500
bonds were traded in, against 833,943 shares and
$15,261,000 bonds the previous year, 817,164 shares
and $4,566,100 bonds in 1907 and 1,234,531 shares
and $5,858,050 bonds in 1906. At Philadelphia the total
transactions were 9,627,460 shares and $22,474,235
bonds, against 8,384,977 shares and $19,739,716
bonds in 1908, 8,578,805 shares and $12,099,096
bonds in 1907 and 10,680,573 shares and $20,360,188
1906.
In
bonds
in
1906.
Baltimore’s
transactions
reached
399,673 shares and $36,817,470 bonds, comparing
with 190,024 shares and $21,784,603 bonds the previous
year, 153,912 shares and $15,649,010 bonds in 1907
and 524,286 shares and $31,688,513 bonds in 1906.
Canadian bank
clearings
also much greater in
1908, and furthermore recorded import¬
ant gains over 1907 and 1906.
For the thirteen cities
of the Dominion from which comparative figures are
obtainable the aggregate clearings in 1909 were
$5,190,311,946, against $4,142,094,351 in 1908, or
an increase of
25.3%; contrasted with 1907 the gain
reached 20.0%. All of the cities shared in the in¬
crease over 1909 with the
percentages of gain most
conspicuous at Vancouver and Calgary. It is also
to be noted that transactions on the Stock
Exchanges in
Canada were larger in 1909 than in 1908 or 1907.
Dealings at Montreal totaled 3,335,387 shares and
$5,539,150 bonds, against 1,375,701 shares and
$4,477,933 bonds in 1908 and 675,220 shares and
$3,881,433 bonds in 1907. Record sales were in 1901,
when they reached 2,834,169 shares. Toronto
opera¬
tions for 1909 covered 634,219 shares and
$3,458,000,
comparing with 606,526 shares and $3,578,000 in
1908 and 424,213 shares and $2,926,200 bonds in
1907, and a record total of 2,163,277 shares made in
1902. The record of Canadian clearings
by quarters
for the last six years is given below.
were
1909 than in
Clearings Reported,
(000* omitted.)
First
Second
Third
Fourth
Quarter.
Total
Quarter.
Quarter.
Quatrer.
Year.
%
fl909._
11908..
1907..
Canada
(1906..
11905..
11904..
$
1,081,893
903,074
1.004,009
907,606
748,629
581,072
%
1,227,097
952,520
1.070,924
927,913
795,590
647,123
1,245,681
1.014,090
1,087,591
942,762
826,346
678,171
t
1,635,641
%
1,272,410
1,162,154
1,171,516
5,190,312
4,142.094
4,324.678
3,949,797
959,557
836,719
3,330,122
2,743,085
ITEMS ABOUT BANES, BANKERS AND TRUST GO'S.
—The public sales of bank stocks this week
shares, of which 207 shares
and 25 shares at auction.
Exchange of “rights”
on
were
Sales
aggregate 232
sold at the Stock Exchange
were
also made at the Stock
191 shares of Fourth National Bank
stock at 1M-2.
The table below, given in our usual form,
shows the actual sales of New York City bank stocks made
during the week at auction and at the Stock Exchange. Ex¬
tensive tables showing the bid and asked
quotations, de¬
posits, surplus, &c., of banks and trust companies in all
important cities in the United States are published monthly
In the “Bank and Quotation” Section, the January issue of
which accompanies to-day's “Chronicle.” Bid and asked
quotations for all New York City bank and trust company
stocks are also published weekly in another department of
the paper, and will be found to-day on pages 92 and 93.
Shares. BANKS—New York.
Low.
•16 Commerce, Nat. Bank of.
204
•191 Fourth National Bank
202
•191
do.'
do
rights
1
25 Union Exchange Nat. Bank 191 M
•
Sold at the Stock Exchange.
_
•
High. Close.
204
206
204
204
Last Previous Sale.
Dec.
1909— 204
Dec.
1909— 208
2
1H
191 H 191^ Nov.
-
1907— 207
[VOL.
LXXXX.
—Suggestions for amending the Oklahoma-bank-depositguaranty law
discussed at a conference between Gov.
thirty members of the Oklahoma State Bankers'
Association held at Guthrie, Okla., on Dec. 30.
The sug¬
gestions, it is thought, will be incorporated in the Governor's
message to a special session of the Legislature, expected to be
called on Jan. IS.
Under the changes
contemplated, the
“St. Louis Globe Democrat” reports, the banks must con¬
tinue subscribing to the guaranty fund, but in case the fund
should be insufficient because of banks failing,
and all de¬
positors have not been paid, 6% certificates are* to be issued,
the State guaranteeing them, so that certificates
may be sold
at par by the depositors who have accepted them in lieu of
cash.
Other recommendations noted by the “Globe Demo¬
crat” are as follows: (1) A change in the State
Banking Board
membership by eliminating all State officers except the
Governor, and substituting three State bankers, a Republi¬
can and two Democrats; (2) banker members of the Board
to have no State deposits in their own banks;
(3) the guaranty
fund to be left in the banks against which it was
assessed,
the State merely taking 3% certificates from the banks in
were
Haskell and
lieu of the cash.
—The affairs of the First State Bank of
Kiefer, Okla.,
reported as closed on Dec. 22 with the payment by the
State Banking Board of the last depositor.
The suspension
of the institution occurred on Dec. 14, following the
closing
of the Farmers' National Bank of Tulsa, with which the
Kiefer bank, it was reported, had a $30,000 deposit.
The
liabilities of the Kiefer institution were said to be
$87,000,
practically all of which was due to depositors.
were
—The New York Chamber of
Commerce, at its regular
monthly meeting on Thursday, adopted the following reso¬
lution advocating the rehabilitation of the American mer¬
chant marine:
Resolved, That the Chamber of Commerce of the State of New York,
assembled in conference at their monthly meeting on the 6th day of Janu¬
ary,
1910, records itself
as
emphatically in favor of the rehabilitation of the
American merchant marine.
The resolution
offered
by ex-Congressman William
Douglass, who in urging its adoption referred to the action
of the Chamber at its last meeting on the subject of
subsidies,
which he thought had placed it in a somewhat unfavorable
light before the country. Mr. Douglass’s resolution, as origi¬
nally offered, had contained a clause which urged upon
Congress the necessity to. authorize “the immediate estab¬
lishment of American-owned and managed combined mail
and freight lines to our dependencies and the
leading com¬
mercial countries of the world; also that we request such legis¬
lation shall be passed as will enable our citizens to build at
home and successfully operate steam and sail vessels to
engage in the deep-sea trade on an equal footing with other
maritime Powers.”
It was intimated, however, to^Mr.
that
some
of
Douglass
the members might look upon this
as committing the Chamber to a
subsidy and he accordingly
withdrew that part of the resolution.
was
H.
—From further details which
we
have been able to obtain
from Kansas with regard to the decision of
Judge J. C.
Pollock, of the U. S. Circuit Court, on the deposit-guaranty
law referred to here Dec. 25, we learn that three separate
cases were passed upon by him on Dec. 24.
In two of
these, as previously noted, injunctions were granted
against the law. The other case, brought by the State
banks, headed by the Assaria State Bank of Assaria,
Kan., was, according to the Topeka “Capital,” dis¬
missed by Judge Pollock.
In this instance, the “Capital”
notes, the State banks had asked for an injunction against
the State officials for the reason that they did not want to
participate in the law, and that its enforcement gave other
State banks already participating an advantage over them.
They contended that the State discriminated against them
when it enacted the guaranty law; that while the law was not
compulsory in letter, it was in spirit, and that they were
practically forced to participate or lose business because of
unjust discrimination. This view was not shared in by
Judge Pollock, who held that the law was not compulsory
in any way, and that the plaintiffs could avail of it or not,
as they chose.
He therefore dismissed the case, pointing
out that the only way for, the plaintiffs to
proceed was to
pursue the course of Frank S. Larabee, a stockholder of the
Exchange State Bank of Hutchinson. The suit brought by
Jan. 8 1910.)
THE CHRONICLE
referred to by us two weeks ago. His asso¬
ciates in the bank had voted to avail themselves of the guar¬
Mr. Larabee
was
anty law. He, however, opposed the action, and brought suit
to enjoin the management from operating the bank under the
The Court granted the injunction and decided that a
law.
bank cannot participate in the law so long as one stock¬
holder objects. The principal case passed on, and the one
in which the law is held to be unconstitutional, was the suit
brought by
a
number of the national banks and the Abilene
National Bank of Abilene, Kan., in particular.
To quote
the
“Capital,” these banks alleged discrimination on the
part of the State; they held that while they were chartered
under the Federal laws, they were citizens of Kansas and
engaged in the same business as State banks. They con¬
tended that the enactment of the guaranty law gave the
State banks
an
unfair advantage over them, the national
being prohibited from participation under the ruling of
the Comptroller of the Currency and the IT. S. AttorneyA temporary injunction restraining State Bank
General.
Commissioner Dolley and State Treasurer Tulley from enforc¬
ing the law was asked for and was granted by Judge Pollock.
In his opinion the law is held to be in violation of the Four¬
banks
teenth Amendment to the Federal Constitution in that it
confers
special privileges upon certain classes. It is provided,
however, that the State may deposit a bond of $50,000 at the
January term of the Court, when the question of a final
hearing will be determined. In part the decision said:
In the light of authorities it must be held that a legislative enactment that
confers special privileges and benefits on a class which, by the law, and not
by conditions, are denied to another class, in the same business or calling,
and which privileges and benefits so conferred on the favored class may be
and are employed to Impair and destroy the business of those belonging
to the excluded class, is inhibited by the provisions in the Fourteenth
Amendment to the National Constitution. And more especially must this
be true, I think, in a case such as this, where the business conducted by the
excluded class is not only of the same nature and character as that trans¬
acted by the favored class, but is conducted in the same city, town or
locality in competition, one class with the other."
In the Stated
83
Under the proposition all the collaterals for the note will be turned 6ver
absolutely to the banks, and John R. Walsh and his sons will be released
from their obligation on the note.
An understanding has already been reached between the guarantors
and the Clearing-House committee as to the terms of a settlement with
them.
They are to pay at once $600,000 cash or its equivalent and get
the property pledged by them returned to them
A meeting of the Clearing-House committee will be held to-morrow to
arrange for a meeting of the associated banks, when the proposition of
both Mr. Walsh and the guarantors will be submitted for approval, with
the recommendation of the Clearing-House committee that they should
both be accepted.
The amount of the loan
originally was, roughly, $11,000,000, but sufficient collateral was subsequently disposed of
to bring it down to $7,121,887.
The 1 oan was then converted
into a note from John R. Walsh & Co., which was indorsed
by the directors of the Walsh banks, for $949,000. These
guarantors, and the amounts pledged by them, are as follows:
Maurice Rosenfeld
John M. Smyth estate
Lyman A. Walton
$350,000 Fred G. Nally estate
350,000 Fred M. Blount
79,000 William Best
The collateral put up
the same, is reported as
$70,000
60,000
40,000
by Mr. Walsh, and the face value of
follows in the Chicago papers:
Illinois Southern Railway bonds, 4%
Illinois Southern Railway Co. capital stock-
$3,900,000
3,400,000
2,060,000
1,000,000
905,000
Southern Indiana Railway general bonds, 5%
Illinois Southern
preferred stock
Railway bonds, 5%
Chicago Southern Railway bonds, 5%
Bedford Quarries stock
Northwestern Gas Light & Coke Co. stock
Lot in Washington Street
Bedford Belt Railway stock
Wisconsin & Michigan Railway bonds, 4%
Chicago Wharfing first mortgage bonds, 4%
H. W. Seymour, note.
Wisconsin & Michigan
J. H. Bradshaw, note
—
—
,
Subscription certificates.
Total
—
786,000
600,000
330.000
300,000
250,000
150,000
100,000
100,000
100,000
55,000
-
$14,036,000
Mr. Walsh failed to meet the
quarterly interest payment
due Sept. 30, and amounting to $71,218, so that the value of
the note, with the accrued interest of Sept. 30 and Dec. 30,
is brought up to $7,264,323.
to the injunction, it denies that the
—In furtherance of its campaign against the postal-sav¬
jurisdiction, on the ground that the
amount involved does not exceed $2,000; it also contends ings-bank plan, the Committee on Postal Savings Banks of
the American Bankers’ Association, under date of Dec. 27,
that the national banks, by maintaining the suit, violate that
has distributed data tending to prove that no actual need
section of the Federal Constitution which provides that no
exists for the establishment of postal banks, the savings
individual shall bring suit against a State.
The charge that
banks being fully able to take care of the needs of the people
the law is discriminatory against the national banks is an¬
in that respect.
In support of the contention, it is noted
swered, it is said, by the statement that the law provides
that there are more than 17,794 banks in the United States
that those banks may form mutual-bank-deposit insurance
which accept savings deposits.
On the other hand, it is
companies, as some of the State banks have done.
pointed out that in countries where the postal savings banks
—It is reported that Gov. A. C. Shallenberger of Nebraska
exist, there are only a very small number of private savings
has made known to Gov. C. M. Haskell of Oklahoma his
banks.
Postal savings banks were established in foreign
acquiescence in the suggestion of the latter that a conference countries,
it is argued, to make the people bring out their
be held of the Governors of Nebraska, Oklahoma and Kansas
money, in order that the Government could use the funds to
to adopt a policy concerning bank-deposit-guaranty laws.
pay their expenses, as postal savings deposits are used only
The conference is proposed in view 6f the action of the courts
in running the governments.
The committee also states:
in declaring unconstitutional the guaranty laws of Nebraska
“In all the postal savings banks in the world in 1907 there
and Kansas.
were $2,010,000,000 on deposit, compared with over $6,—Under an agreement entered into by John R. Walsh of Chi¬
000,000,000 of savings deposits in banks in the United States.
cago on Tuesday, a settlement of his note of $7,121,887, held Between June 30 1908 and June 30 1909 Canadian postal
by the Clearing-House banks, is effected. The indebtedness savings banks show a loss of $2,401,357. An eminent au¬
grew out of the closing in 1905 of the Chicago National Bank,
thority on Canadian financial matters says: ‘It is to be hoped
the Equitable Trust Co. and the Home Savings Bank, the the Government will conclude it
might as well close these
banks in the Clearing House having guaranteed the payment
(the postal savings) banks, which in these days are unneces¬
of the depositors of the closed institutions.
Under the ne¬ sary, and have the effect of taking whatever money is de¬
gotiations consummated this week, Mr. Walsh turns over posited out of the regular channels of commerce, in which it
absolutely to the Clearing-House banks the securities, hav¬ would be utilized if deposited in the chartered banks.’ ”
ing a face value of $14,036,000, pledged as collateral for the
—One of the most important local banking consolidations
note, and the guarantors of the note are to pay over to the
ever evolved is that arranged between the Guaranty Trust
banks $550,000 in cash and about $50,000 in securities
Co., the Morton Trust Co. and the Fifth Avenue Trust Co.,
readily convertible into cash, receiving in exchange the
plans for which were made known this week. The announce¬
$949,000 of securities put up by them. Mr. Walsh, in re¬
ment of the plans for the merger came from Henry P.
turn for the release of his interest in the railroad properties
Davison, of the firm of J. P. Morgan & Co., who was at the
back of the loan, is to receive $50,000, this amount being
head of the syndicate which acquired controlling interest in
turned over to his attorneys for services rendered to him, and
the Guaranty Trust Co. last month.
The arrangements
which may hereafter be rendered to the Clearing-House banks
the
union
of
institutions
contemplate
these
three
under the
in connection with the handling of the roads. The official
name of the Guaranty Trust Co., the enlarged institution
announcement of the termination of the negotiations, made
having a capital of $5,000,000, surplus and profits of approxi¬
by James B. Forgan, Chairman of the Chicago Clearingmately $20,000,000 and deposits in the neighborhood of
House Committee, is as follows:
$125,000,000. The Guaranty and Morton trust companies
Negotiations for a settlement with Mr. Walsh, which have been going
on for some weeks, were finally closed this afternoon, when the Clearingeach have a capital of $2,000,000, while the Fifth Avenue
House committee received from him a proposition in writing satisfactorily
Trust has a capital of $1 ;000,000.
The first step in the con¬
The acceptance by the Clearing-House banks of
covering all the details.
this proposition will make it unnecessary to have a receiver appointed in
solidation proceedings will be an increase of $1,000,000 in the
connection with the agreement of April 1 1907 In regard to the $7,121,.
887 12 note of J. R. Walsh & Co.
capital of the Guaranty Trust Co., raising it to $3,000,000.
Federal Court
answer
has
84
Action
THE CHRONICLE
on
this matter will be taken
the 19 th last.
by the stockholders
on
j
[Yol.
—The Union Trust Co. of .New York
lxxxx.
announces
that
This additional stock will be offered pro rata,
George G. Henry has resigned as one of its Vice-Presidents
at par, to the Guaranty’s stockholders of record Jan. 19, the. to enter the
banking firm of William Salomon & Co., 25
right to subscribe expiring March 1 1910. On Jan. 25 Broad Street.
another meeting of the shareholders of the Guaranty Trust
—Resolutions eulogistic of the late Dumont Clarke, Presi¬
Co. will be held for the purpose Of increasing the capital dent of the American
Exchange National Bank of this
to $5,000,000.
Of this proposed issue of $2,000,000, $1 ,- city, were adopted by the New York Clearing-House Com¬
600,000 will go to the stockholders of the Morton Trust mittee at a meeting on the 3d inst.
'Co., who will be entitled to exchange their holdings at the ; —Darius O. Mills, banker and
philanthropist, died
rate of four shares of Morton stock for three of Guaranty
suddenly on the 3d inst. at his California home at Millbrae,
stock; the shareholders of the Fifth Avenue Trust will re¬ San Mateo County. His death was due to heart disease.
ceive $500,000 of Guaranty Trust Co. stock, or one share of Mr. Mills was in his
eighty-fifth year. Although born in the
the latter for two shares of the Fifth Avenue Trust.
The East—at North
Salem, Westchester County, N. Y., in
Morton and Fifth Avenue trust companies are both under
Sept. 1825—his name is inseparably linked with the financial
the presidency of Levi P. Morton.
Thomas F. Ryan has development of the Pacific Coast, two of the
leading banks
for some time past held an influential interest in both com¬ there
owing their foundation to him. Mr. Mills, whose
panies. It is understood that controlJof the Morton Trust educational training was obtained at the North Salem
Co. has been secured for the Morgan interests by Mr. Davison
Academy and the Mt. Pleasant Academy at Sing Sing, was
through the purchase of the holdings of Mr. Morton, Mr. obliged to discontinue his school life with the death of his
Ryan, the Whitney estate and the Mutual Life Insurance Co., father in 1841. His first position was as a clerk in a store in
together with other small holdings. The ownership of the this city. The business
ability he displayed here resulted in
Fifth Avenue Trust Co. lodged with the Morton and Mer¬ the offer of the
cashiership of the Merchants’ Bank of Erie
cantile Trust companies, the Morton being reported as the
County, Buffalo, made to him by his cousin, E. J. Townsend.
owner recently of 2,437 shares and the Mercantile of
2,095 This post he undertook in 1847, being given at the same time
shares.
Mr. Morton is to be Chairman of the board of a one-third interest in
the institution.
With the discovery
directors of the enlarged Guaranty Trust Co.
The deposits of gold in California in 1848, Mr. Mills decided to migrate to
of the consolidating institutions on Jan. 4 are
reported as that territory, which had already attracted two of his
follows: Guaranty Trust, $75,614,000; Morton Trust Co., brothers. The
establishment by him at Sacramento of a
$33,907,000, and the Fifth Avenue Trust Co., $17,787,000.
general store devoted to the selling of merchandise and the
—Lawrence L. Gillespie, Chairman of the Executive Com¬ dealing in exchange proved exceptionally successful, and at
mittee of the Trust Company Section of the American the end of the first year a profit of $40,000 was realized.
He
Bankers’ Association, reports under date of Dec. 31 1909 closed up the business, however, and returned to Buffalo, to
that the membership of that section now comprises 1,003 secure implements, clothing and other necessities required in
institutions, representing every State in the Union, and the new domain. After their dispatch Mr. Mills again made
Hawaii, Alaska and Cuba. The total resources of these his way to Sacramento, where in 185Q he brought about
institutions aggregate approximately $4,000,000,000.
The the formation of the Bank of D. O. Mills & Co., now known
Committee has adopted a policy of effective and progressive as the National Bank of D. O. Mills & Co.
He was later one
endeavor in various directions useful to trust companies of the organizers of the Bank of California at San Francisco,
and banking institutions generally.
A recent example has started in 1864, and was its first President. He resigned the
been the publication of a compilation of trust company laws presidency of this institution in 1873, leaving it in an
in the several States, and it is now engaged m the
preparation especially sound condition. But mismanagement in the
of a comprehensive work on trust company forms.
Its next two years resulted in its failure, and he was called upon
standing Committee on Protective Laws is also attaining to undertake its rehabilitation. Mr. Mills subscribed
substantial results through the legislatures of the several $1,000,000 of a fund of $7,895,000 raised to aid in its reor¬
States in matters of public supervision and recognition.
The ganization, and in about six weeks after its suspension it
past year, it is announced, has been a prosperous one for the was re-opened again under the presidency of Mr. Mills. He
section, its membership having been increased by the addi¬ retired in 1878, when the bank was once more on a firm
tion of 106 trust companies with total resources of $82,- footing.
In 1903 the Bank of California became the owner
of
National
Bank of D. O. Mills.
the
One of the best known
OOOjOOO.
—The United States Sub-Treasury at San Francisco was of Mr. Mills’s philanthropic interests was the establishment
elected a member of the San Francisco Clearing-House Asso¬ of the Mills Hotels, three in number, in this city. These
were not intended as charitable institutions, but rather to
ciation at a meeting of the latter on Dec. 29.
—In accordance with announcements previously made, provide for homeless men meals and lodging at a nominal
Mr. Mills also built the training school for male
the firm of J. S. Morgan & Co. of London, England, which price.
nurses at Bellevue Hospital.
Among other structures which
.expired on Dec. 31, has been succeeded by Morgan, Grenfell he erected are the Mills
Building of San Francisco and the
A Co. The personnel of the new firm consists of J. P.
Mills Building ‘in Exchange Place, this city, where during
V .Morgan & Co., Drexel & Co., E. C. Grenfell and Vivian H. !
the last thirty years the greater part of hw business interests
Smith.
-
were
—Edward
Moore
Robinson,
partner in the banking
firms of J. P. Morgan & Co. of New York, Drexel & Co. of
Philadelphia and Morgan, Harjes & Co. of Paris, died on the
4th inst. ,at his home at Villanova, Pa.
Mr. Robinson had
been ill for several months and his death follows closely upon
that of his wife, which occurred on Dec. 26.
Mr. Robinson
was forty-two years of age.
He Was a son of John Robinson,
a
conducted.
At the time of his death Mr. Mills
was
Vice-President of the Bank of New York, N. B. A., a director
of the National Bank of D. O. Mills, the Farmers’ Loan A
Trust
Co., the United States Trust Co., the Morton Trust Co.,
Metropolitan Trust Co., the N. Y. Central & Hudson River
RR., the Atlantic Coast Steamship Co., the International
Paper Co., the Lackawanna Steel Co., the Lake Shore &
Michigan Southern Railway Co., the Mergenthaler Linotype
from whom he inherited an interest in the Morgan firms
Co., the North Atlantic Steamship Co., President of the
about fifteen years ago.
Niagara Falls Power Co., director of the Metropolitan
—An event of the past week has been the opening
by Museum of Art, the Madison Square Garden Co. and of other
Redmond & Co. of its uptown branch at 624 Fifth Ave., concerns.
where they have re-modeled a dwelling-house so as to give
—William Seligman, head of the banking firm of
Seligthemselves a commodious and handsomely furnished suite
man, Freres et Cie., of Paris, died in that city on Thursday,
of offices on the ground floor.
From this centre they propose the 6th inst. Mr. Seligman was the second oldest of the
to distribute securities to the ever-growing class of investors
eight Seligman brothers, Who founded the international
to whom the neighborhood of Wall Street is a terra
incognita, banking houses of that name. He was born in Bayersdorf,
and it is interesting to note that they will receive orders for
Germany, in 1822 and came to this country in 1839, joining
stocks only on an investment basis and will open no margin his older brother
Joseph,.who had settled in Mauch Chunk,
accounts.
For a firm that has been for so many years a Pa.
He later settled in Alabama, where he started in the
member of the Stock Exchange, this is an interesting depar¬
clothing and commission business. Just before the Civil
ture.
War he came to New York, and with his brother
Joseph
the
J an. 8 1910. j
established
THE CHRONICLE
dry goods firm here and a branch in California,
charge of his brothers Jesse, Abraham, Leopold and Henry.
In 1862 the New York firm was converted into the banking
house of J. & W. Seligman <fe Co. (with Joseph, William,
James and Jesse as the resident partners), the California
branch subsequently becoming the Anglo-California Bank,
Ltd., and later, through consolidation, the Anglo A London
Paris National Bank.
In 1864 William Seligman, with
Matc Heilman., established the Paris branch under the name
of Seligman, Freres et Cie.; Isaac and Leopold started the
London branch, known as Seligman Brothers, and Henry
and Abraham opened the Frankfort branch of Seligman A
a
in
Stettheimer.
charges of misapplying funds of the failed National Bank
city, began his term of imprison¬
ment in the Federal prison at Atlanta, Ga., on the 3d inst.
Before his departure from this city on Sunday Mr. Morse
gave out a statement in which he denounces his sentence
as “brutal,” and intimates that a plea for Executive
clemency
is likely to be made in his behalf.
This statement we quote
on
of North America of this
follows:
I am going to Atlanta to begin penal servitude under the most brutal
sentence ever
pronounced
against
citizen in a civilized country.
I have
innocence
that I would not have to dose out forever the light and liberty of this
world under such an Inhuman sentence.
I had felt that the fact that I
paid a fine of $7,000,600 and served a year In prison would satisfy the
cry for a victim, and I have steadily believed that the courts would be
compelled to give me a new trial.
hoped with that hope which
a
comes
from
a consciousness of my
By this sentence and judgment I may be brought to ruin; but the
damage done to me is not half as Important as the injury to the adminis¬
tration of justice.
I am now up in.years, ami must with the passing of time
pass also; but the record of my conviction and the way It was brought
about will remain a lasting and dangerous example of a government gone
mad in search of a victim.
Whether I shall serve my full sentence I am not able to say, much
depending upon how the Government at Washington shall look upon It. I
have great faith that all right-thinking men and women who know of me
and my case, and who realize the Inhumanity of my sentence, will make
known their feelings to the President.
Whatever the future may hold In
store—liberty or Imprisonment—I shall endeavor to meet In the same
way I have struggled against the misfortunes of the past two years.
—At a meeting of the stockholders of the Equitable Safe
Deposit Co. of New York this week, when the retiring direc¬
tors were re-elected, F. W. Fulle, Vice-President of the
Equitable Trust Co. of New York, was chosen to fill a vacancy
on
one.
Mr. Heinze pleaded not
guilty at this week's arraignment.
—The new statement just published by the Commercial
Trust Co. of New Jersey, Jersey City, shows that institution
to be enjoying an unusual degree of prosperity.
Deposits
on Dec. 31 last are reported as $13,349,310, against $10*269,402 on Dec. 31 1908, a gain of over three millions of dollars
for the year.
Surplus and undivided profits have advanced
from $2,003,438 to $2,137,860, and aggregate resources from
$13,302,871 to $16,527,170. John W. Hardenbergh is
President; Robert S. Ross, Vice-President, and William J.
Field, Secretary-Treasurer.
—The
—Charles W. Morse, who was sentenced in November
1908 to fifteen years' imprisonment, following his conviction
as
technical errors in the old
85
the board.
Ridgewood National Bank of Brooklyn Borough,
occupying temporary offices at Myrtle and
St. Nicholas avenues since its opening in May last, this week
removed to its own new building at Myrtle and Cypress
The building was open for public inspection on
avenues.
Wednesday and the following day the bank was ready for
business in its new quarters. The institution has a
capital
of $100,000 and surplus of $25,000.
which has been
—At
special meeting of the trustees of the Brooklyn
on Dec. 29, David H.
Lanman, the Treasurer
of the company, was elected a Vice-President, in
place of
Alexander M. White* who retired from the honorary vicepresidency to enable a salaried officer, in regular attendance
at the office, to perform its duties.
Mr. Lanman has been
a
Trust Co.
connected with the institution for several years and has
influential in its affairs. He is also a director.
become very
—The final installment of 30%. due the depositors ef the
Union Bank of Brooklyn under the deferred-payment ar¬
rangement, whereby the re-opening was effected on Aug. 17
1903, was paid on Dec. 17. The plan of reorganization pro¬
vided for the payment of 10% with the re-opening,
15%. in
four months, 20% in eight months, 25% in twelve months
and 30% in sixteen months.
—Harry Louderbough, President of the Lincoln Trust Co.
Jersey City and a director of the National Reserve Bank
of New York, died on the 6th inst.
He was sixty-five years
of age.
He was also President of the Jersey City Board of
Trade and of the C. A. Woolsey Paint Co. and Treasurer of
of
the Paint Trade Insurance Co. of New York.
—The statement of condition published this week by the
Hudson Trust Co., with offices in Hoboken and West Ho¬
boken, N. J., shows further growth in the company's busi¬
The institution was organized in 1890 and had
aggre¬
gate resources on Dec. 31 of that year of $167,765. Five
statement for the calendar years 1907,1908 and 1909 which
years later, or on Jan. 1 1895, total resources of $1,638,632
furnishes evidence of noteworthy expansion in its business.
were reported.
On Jan. 1 1900 they were $4,332,178, while
We give below a resume of the same:
on Jan. 1 1905 the aggregate had risen to
$12,412,039. The
Date—
Capital. Surp.&Praftts. Deposits.
Resources.
Dec. $1 1909
$1,000,000
$2,185,834 $9,008,884 $12,346,174^ new statement for Jan. 1 1910 shows total resources of $15,Dec. 31 1908
1,000,000
2,039.699
8,181,236
11,334,870
524,183. Deposits during the past year increased from
DUO. 31 1907
1,000,000
1,527.631
6,489,955
9,260,618
$12,605,916 on Jan. 1 1909 to $13,645,092 Jan. 1 1910.
As the foregoing shows, deposits in two years have in¬
—The Mutual National Bank of Boston, which began busi¬
creased nearly three millions of dollars, while surplus and
ness on Dec. 2, is said to show $600,000
deposits at the end
profits have experienced a gain of $600,OdO. Aggregate
of its first month's operation.
The
bank
has a capital of
resources have risen from $9,260,618 to $12,346,174,
being
$200,000.
There
is
no
surplus,
the
stock
having
been sold
an addition of $3,035,556 in the period mentioned.
Edward
at par.
The
officers
are
C.
H.
W.
Foster, President; E. D.
Merritt is at the head of this institution; Clinton L. Rossiter
is the active First Vice-President, David G. Legget is Second Codman and W. S. Crane, Vice-Presidents; William H. StickVice-President, F. T. Aldridge is Secretary and Willard P. ney, Cashier, and Charles D. Buckner, Assistant Cashier.
—Curtis Chipman, heretofore Assistant Secretary of the
Schenck and Charles R. Gay are Assistant Secretaries.
—F. A. Heinze was arraigned on Wednesday on two new Bay State Trust Co. of Boston, Mass., has been appointed
indictments, one charging the misuse of funds of the Mercanr Secretary of the institution.
—The entire capital stock of the National Security Bank
tile National Bank of this city while he was President of the
institution. It is stated that the indictment, which con¬ of Lynn, Mass., has been bought by the Security Safe De¬
tains 18 counts, takes the place of the indictment formerly posit <k Trust Co. at $400 per share, as of Jan. 3 1910. The
found against him containing 16 counts, 15 of which were bank, which has a capital of $100,000, will be liquidated
dismissed by Judge Hough in September, the one retained and its business taken over by the Security Safe Deposit A
referring to a loan of $500,000 obtained by Mr. Heinze with- Trust Co., which will hereafter be known as the Security
put security. The new indictment is reported to cover the Trust Co.
15 counts demurred to and three additional charges.
—The Portland Trust Co, of Portland, Me., completed its
It con¬
cerns altogether, it is said, the
misappropriation of $1,500,- twenty-fifth year last week. The institution was the first
000.
The other indictment on which Mr. Heinze was ar¬ trust company in the State, and its
beginning was in modest
raigned this week indicts him jointly with his brother, Arthur offices with two employees. The paid-in capital was $100,P. Heinze, Carlos Warfield, Sanford Robinson and Calvin 000, which has since been increased to
$250,000, and its
O. Geer, for conspiracy in spiriting away the books of the surplus (all earned) now amounts to
$750,000. Deposits,
United Copper Co. last spring. A similar indictment, on including trusts, have grown to $6,000,000—the
largest,
which they had been arraigned some months
ago, had been it is claimed, in the State of Maine—and its total assets are
quashed, and the present indictment is said to correct minor over $7,000,000. Dividends have been paid from the first
—The
Long Island Loan A Trust Co., Temple Bar Build¬
ing, Borough of Brooklyn, is distributing a comparative
ness.
86
THE CHRONICLE
[Vol.
LXXXX.
■
aggregating in all $529,500. The growth in business
compelled two removals from its original location and
the company has successively absorbed the business of the
Portland Safe Deposit Co., that of Swan & Barrett and the
Merchants’ National Bank. The depositors, it is said, are
receiving in interest over twice as much as the stockholders
in dividends. The institution is under the management of
Harry Butler, President; Charles O. Bancroft and Walter
G< Davis, Vice-Presidents; George H. Richardson, Treas¬
urer, and Joshua C. Libby, Assistant Treasurer.
—Samuel Rea, Second Vice-President of the Pennsylvania
RR., was elected a director of the Philadelphia National
Bank of Philadelphia, Pa., on Dec. 29.
—Charles F. Dean, Vice-President and Cashier of the
Union National Bank of Pittsburgh, has been obliged, on
account of ill-health, to relinquish active participation in
the management of the institution.
Mr. Dean has been
associated with the bank for forty-four years. He entered
its employ as a clerk in 1866, subsequently becoming book¬
keeper and teller, advancing to the assistant cashiership in
1873 and the cashiership in 1886. In 1905, in addition to
being chosen Vice-President, he was elected a director.
George M. Paden, heretofore Assistant Cashier, has been
chosen to succeed Mr. Dean as Cashier.
Edwin S. Eggers,
Auditor of the bank since 1905, has become an Assistant
year
tion since 1874.
has
of about $2,000,000.
Cashier.
—An additional
vice-presidency has been created in the
Continental Trust Co. of Baltimore and William J. Casey has
been elected to the post. Mr. Casey has been Assistant to
President S. Davies Warfield for the past four years. E.
Bartlett Hayward has been elected a director of the insti¬
tution
succeeding the late Thomas J. Hayward, and Frank
A. Furst and John M. Dennis have been chosen
as
members
of the executive committee to fill vacancies.
It has
a
»
capital of $150,000 and deposits
—Stoughton J. Fletcher, Vice-President of the Fletcher
Indianapolis, died on Dec. 25 at his
country home near Gallatin, Tenn. Mr. Fletcher was fiftyeight years of age. He had inherited a half interest in the
bank from his father, Stoughton A. Fletcher, who died in
1882, and who with Francis M. Churchman owned the bank,
which was at that time a private institution.
Later Stough¬
National Bank of
ton J. Fletcher became sole owner.
converted to
In 1898 the bank
was
national
institution, and while Mr. Fletcher
disposed of some of his interest, he remained as prac¬
tically sole owner. Owing to ill-health Mr. Fletcher retired
as President two years ago,
continuing in the management
as Vice-President, and his son,
Stoughton A. Fletcher,
succeeding to the presidency.
a
then
—J. Fletcher Farrell has resigned as an Assistant Cashie1
of the Third National Bank of St. Louis having become a Vice-
President of the Fort Dearborn National Bank of
Chicago.
—In the
forty-sixth annual statement of the First National
Chicago, issued by President James B. Forgan on
January 3, net profits of $1,366,101 are reported for the
After the payment of dividends of $960,000 (at 12%),
year.
$406,101 has been added to profit and loss account, increasing
the latter to $1,241,905, from which $1,000,000 has been
transferred to the surplus, making that fund equal to the
capital, viz., $8,000,000. The deposits of the First National
on January 3 were
$106,008,166, while its total resources
were $126,399,401.
The net profits of the First Trust &
Savings Bank for the year were $1,204,195, which, after
paying four quarterly dividends of 4% each, left $884,195 to
add to profit and loss, making that account $1,089,625, from
which the directors have transferred $500,000 to the surplus,
the latter thereby becoming $2,500,000.
The deposits
Bank of
proposition to reduce the preferred stock of the of the First Trust aggregate $45,601,108, while its assets
Maryland Trust Co. of Baltimore, Md., from $1,000,000 to are $50,825,987. As heretofore noted, the First National
$500,000 was ratified by the shareholders on Dec. 28. The will shortly increase its capital from $8,000,000 to $10,stock will be retired at par and interest at 6% from Jan. 1 000,000, 20,000 new shares being issued at $200 per share.
1909.
The preferred stock was issued at the time of the Simultaneously the capital of the First Trust will be in¬
company’s organization in 1905. The company also has creased from $2,000,000 to $2,500,000, this being accom¬
plished by capitalizing $500,000 of the accumulated profits.
$1,000,000 of common stock.
—The
,
—The annual dividend rate on the stock of the Merchants’
National Bank of Baltimore has been increased from 8 to
9%,
a
semi-annual distribution of 4^% having just been
The bank has a capital
declared, as against 4% previously.
of $1,500,000.
—In accordance with the arrangements announced in this
department Dec. 25, the business of the Merchants’ National
Bank of Cincinnati
was
transferred to the First National
—The directors of the Merchants’ Loan & Trust Co. of
Chicago have transferred $2,000,000 from undivided profits to
surplus, making the latter $5,000,000. The capital is $3,000,000 and the deposits amount to about $54,000,000.
This week Assistant Cashier F. G. Nelson was promoted to
a vice-presidency, and John E. Blunt
Jr., manager of the
bond department, was also made a Vice-President.
Mr.
Blunt continues in charge of the bond department.
—The stockholders
Bank last
week, the consolidation becoming effective on
W. S. Rowe, President of the First
29.
National Bank, continues in the presidency of the enlarged
December
Three of the officials of the Merchants’ are
identified with the management of the consolidated bank,
institution.
namely Vice-President W. W. Brown, Cashier William P.
Stamm and Assistant Cashier Charles A. Stevens.
of the continuing
a Vice-President
becomes
while Messrs. Stamm and Stevens
are
Mr. Brown
institution,
Assistant Cashiers.
Be¬
sides those mentioned above,
the other officials of the enlarged
institution are Joseph Rawson, C. B. Wright, C. J. Stedman and S. R. Burton, Vice-Presidents; T. J
Davis, Cashier,
and R. McEvilley, P. E. Kline and J. J. Rowe, Assistant
Cashiers.
The First National, with total resources of over
$40,000,000, now ranks as one of the largest banks in the
country.
.
—William L. Davis,
formerly Vice-President of the defunct
of
the
Swenson, Vice-President of the Union State
Minneapolis, Minn., was appointed United States
Minister to Switzerland on Dec. 20, the appointment being
confirmed by the Senate on the 22d.
From 1887 to 1905
Mr. Swenson served
as
United States Minister to Denmark.
—The Second National Bank of
Winona, Minn., and the
Deposit Bank are to unite under the title of the
Deposit Bank of Winona. The Winona Deposit Bank was
founded in 1868 by the late H. W. Lamberton; it was incor¬
porated as a State institution in 1900, and the control of
Winona
the Lamberton interests has been continuous since its foun¬
The Second National was established in 1871, and
dation.
for the
greater portion of its existence has been in control
years’ imprisonment on Dec. 29 following his conviction by
a jury on the 24thult.on the charge of abstracting 350 shares
of
—The South Cleveland
Banking Co. of Cleveland, Ohio,
U. G. Walker,
President of the institution, is a director of the Werner
Company, a publishing house of Akron, Ohio, for which a
receiver was named on Wednesday.
Statements made to
Assignee Marlatt by the directors of the bank indicate, it is
said, that the latter’s loans to the publishing house are likely
assigned
to
on
Thursday to William H. Marlatt.
approximate $1,000,000.
The bank had been in
opera¬
of
—Lauretz
of the Laird-Norton interests.
The institution failed in May 1905.
Bank
Bank of
Canton State Bank of Canton, Ohio, was sentenced to five
of the bank’s stock.
German-American
Minneapolis on Dec. 14 ratified the proposition to increase
the capital from $100,000 to $200,000.
The new stock was
issued and sold to the shareholders at par ($100) on Dec. 31.
Both banks have
a capital
The resultant institution will begin busi¬
ness on Jan. 22 with the following officers:
William H.
Laird, President; S. L. Prentiss, Vice-President; Paul E.
Baumgartner, Cashier, and F. A. Lemme, E. E. Shepard
and A. E. Rau, Assistant Cashiers.
$200,000 each.
—The Merchants’ & Farmers’ State Bank of Milwaukee
has been incorporated with $65,000 capital.
It is expected
that the new institution will be ready for business in about
six months’ time.
mann,
The incorporators include Frank SeePeter F. Lynch, Frank Fischer, George Schroeder,
F. W. Mueller and E. J. Krause.
-
■
'
------
-
the officers of the bank
as
,
individuals.
Savings Bank of Denver, Colo.,
Jan. 1 of a bond department
under the management of John A. McMullin, formerly with:
Graham & Co. of Philadelphia. In its new department the
institution is prepared to handle Government and corpora¬
tion bonds, as well as high-grade municipal bonds of the
northern and central West. The officers of the bank are
W. T. Ravenscroft, President; A. J. Bromfield, Vice-Presi¬
dent; J. Mignolet, Cashier, and C. A. Root, Assistant
—The Federal State &
the
opening
A
-
-
—Arrangements are about completed for the erection of
a~nine-story building by the Central National Bank of Den¬
ver, Col., at the corner of 15th and Arapahoe streets.
Work
on the new structure will begin about Feb. 1, when the leases
in the old building expire. The proposed building will con¬
tain 1,000,000 cubic feet of space, the site measuring 100x100
in area. Its financing, it is stated, will be carried on by
announces
87
THEICHRONICLE
1910.|
■
Jan. 8
on
Cashier.
—The Citizens* State Bank of
Clay Center, Kansas, has
by the People's National Bank of that place.
The presidency of the People’s, which had become vacant
through the death of L. McChesney, was offered to William
Docking, Cashier of the institution at a meeting of the
He declined the office, however,
directors on December 20.
and submitted a plan whereby the business of the Citizens'
could be taken over, which was subsequently approved, and
carried out.
Mr. Docking retains the cashiership of the
enlarged bank, of which F. B. Fullington has become
President.
Mr. Fullington was President of the Citizens’.
J. G. Cowell, Cashier of the Citizens', has-been chosen
Second Vice-President of the People’s.
been absorbed
—A consolidation of the Central National and
and became
operative on December 28. It was
through the surrender by the stockholders of 25%
of their holdings at $180 per share.
The action reduces the
entire working capital from $2,230,000 to $1,650,000, the
surplus being brought down from $675,000 to $500,000
and the undivided profits from $230,000 to $150,000.
At
the time of the organization of the institution in 1905 it was
planned to start with $1,000,000 capital, but, owing to the
demand for the stock, the amount was fixed at $1,200,000.
The following year, when the Security Bank & Trust Co. was
acquired, the capital was increased to $1,325,000. t In the
statement to the stockholders calling the meeting to reduce
the capital and surplus, it was said that the immediate
effect of the reduction would be a considerable decrease in
the amount of the annual taxes, with every probability
of a substantial increase of the bank’s earning capacity.
—The Union National Bank of Oakland, Cal., which
closed its doors in April 1909 paid its depositors a first
installment of 25% on December 20 through Receiver H, N.
The institution's suspension in April was the
Morris.
second in a year and a half, it having closed its doors in
November 1907 (the time of the panic) and reopened in
January 1908. The distribution was made possible partly
by reason of the settlement of $360,000 reported as made by
Thomas Prather, formerly President of the institution, Edson
F. Adams, Vice-President, and John C. Adams, a director,
against whom suit had been brought by the stockholders in
1908 to recover moneys alleged to have been loaned in
violation of the law which prohibits loans to an individual in
excess of 10% of the capital and surplus of an institution.
As a result of the settlement the civil suits against Messrs.
ber
15
effected
Prather and Adams
are
dismissed.
Capital
—The annual convention of the California Bankers’ Asso¬
National banks of Topeka, Kan., has been effected. The
ciation is to take place this year on May 12 to 14 inclusive. On
merger was brought about through the purchase of the assets
of the Capital National by the Central, and as a result the the ground that the State Clearing House Association fills
all requirements, the establishment of the group system, it is
Capital is placed in liquidation. The Central National, the
continuing institution, will increase its]capital from $100,000 said, will not be undertaken. The Association is also said
to $200,000.
E. H. Crosby, who was Vice-President of the to have decided against the adoption by it of a department
the issuance of fidelity bonds or burglary insurance.
Capital, and George A. Guild, Cashier of that institution, for
have entered the management of the Central, which is now
as follows: President, J. R. Burrow; Vice-Presidents, E. E.
Canadian BankJClearings.—The clearings of the Canadian
Ames, P. I. Bonebrake, S. S. Ott and E. H. Crosby; Cashier, banks for the month of December 1909 show an increase over
George A. Guild; Assistant Cashiers, F. C. Thompson and the same month of 1908 of 29.3% and for the twelve months
the gain reaches 25.3%.
C. S. Bowman. The Capital National began business in
Twelve Months.
December.
1905; it had a capital of J&100,000 and deposits of about
.
Clearings at—
$600,000.
Mississippi Valley Trust Co. of St. Louis is remem¬
bering its many friends with a useful and expensive souvenir
in the shape of a paper cutter having a large knife-shaped
blade of fine steel, the handle being of white composition.
1909.
—The
plan to consolidate the First National Bank and the
& Traders’ National Bank of Covington, Ky.,
will be placed before the stockholders for action on the
31st inst.
The merger will be effected under the name of the
First National Bank, which will increase its capital from
$300,000 to $600,000, to provide for the stockholders of the
Farmers’ & Traders’ National, which also has a capital of
$300,000. Each bank will contribute $60,000 to a surplus
fund of $120,000. The amount of surplus and profits remaining
in each case after providing for the new fund will be dis¬
tributed as a cash dividend to the stockholders of the respect¬
ive banks, the payment amounting to about 33 1-3%.
It is understood that E. S. Lee, President of the First
National, will be at the head of the consolidated bank. In
1908 the First National took over the Merchants’ National
—-A
Farmers'
Bank.
Dieruf, who became Cashier of the Commercial
Louisville, Ky., last summer, resigned
on the 1st inst.
Mr. Dieruf had formerly been Cashier of the
Continental National Bank of Louisville, which went out
of existence six months ago, some of its assets being taken
over by the Commercial.
—J. S. Buchanan has been elected President of the Frank¬
lin Bank of Louisville, Ky., succeeding J. S. Woods, re¬
signed. C. W. Banta has replaced O. T. Trent as Cashier
—C. W.
Bank & Trust Co. of
of the bank.
—The German-American National Bank of New Orleans,
La., has reduced its capital from $1,325,000 to $1,000,000.
The reduction was approved by the stockholders on Decem¬
Canada—
Montreal
Toronto
•
Winnipeg
Vancouver....
Ottawa
Quebec
Halifax
Hamilton
Calgary
St. John
London
Victoria
Edmonton....
Regina
Total Canada
1|
1908.
Inc. or
Dec.
1908.
1909.
Inc. or
Dec.
1
S
%
$
$
%
196,736.720 140,666,048 + 39.9 1,866,648,829 1,467,275,998 +27.2
140,506,631,123.219,609 + 14.0 1,437,700,477 1,166,902,436 + 22.3
770,649,322
614,111,801 +25.5
95,477,412 75,601,239 +26.3
287,529,944
183,083,447 + 57.0
31,139,716; 18,320,900 + 69.9
154,367,756 + 12.2
+
173,181,978
15,578,734! 13,140,567 18.5
111,812,551 +6.3
118,803,773
12,395,134 10,394.098 + 19.2
95,278.468
,90,232,247 +5.6
8,451,102
8,193,125 +3.1
72,329,688 + 17.1
84,803,936
8,415,954
7,039,864 + 19.5
98.754,389
64,815,227 + 52.4
12,498,822
7,595,116 + 64.6
66,435,636 +9.0
72,404,500
7,007,940: 5,276,301 +32.8
56.875,041 +9.2
62,093,337
5,901,317
5.405,061 + 9.2
+64.0
70,695,882
8,099,579
4,939,071
$5,356,013 +27.7
38,496,510 +34.5
51.767,111
5,569,136; 4,100,320 +35.7
Not lncl. In total.
14,153,244
5,214,964 Not lncl. In total.
547.778.198|423,891,319
+ 29,3 5,190,311,946 4,142,094,351 +25.3
clearings for the week ending January 1 in comparison
same week of 1909 show an increase in the aggre¬
’
gate of 32.0%.
The
with the
Week ending
January 1.
Clearings at—
1910.
S
Canada—
Montreal
Toronto
Winnipeg
37,036,028
-
-
25.657,095
16.700,682
Vancouver
Ottawa
5,782,847
2,733,074
Quebec
2,428,428
1,649,453
Halifax
Hamilton
Calgary
St. John
London
Victoria
Edmonton
Regina
Total Canada
1909.
$
23,961,172
25,485,875
12.268,727
3,206,105
2,159,764
1.997,201
1,402,700
Inc. or
Dec.
1908.
1907.
$
%
+54.6 27,526,300 29,766,221
+0.7 21,437.400 27,738,165
+36.1 10,747,118 12,518,212
3,136,061
+80.4
2,752,758
+ 26.6
2,773,832
2,323,726
2,016,322
+21.6
2,024.341
2,538,249
+ 17.6
1,566,571
+42.7
1,629,356
1,533,989
+55.6
1,099,767
1,481,971
1,100,530
+ 11.8
1,261,969
+ 18.3
1,577,894
1,451,041
800,204
+96.1
791,897
745.681
+88.2
574,649
$
1,242,548
1,773,708
1,426,502
2,219,813
1,223,953
1,367,306
971,017
1,149,107
855,303
1,675,846
672,000
1,264,494
882,518 Not lncl. In total.
101,437,881
76,872,867 +32.0
74,931,167
87,984,142
Clearings by Telegraph—Sales of Stocks, Bonds, &c.—
subjoined table, covering clearings for the current week,
usually appears on the first page of each issue, but on account
of the length of the other tables is crowded out once a month.
The figures are received by telegraph from other leading cities.
It will be observed that, as compared with the corresponding
week of 1909, there is an increase in the aggregate of 28.8%.
The
THE CHRONICLE
[VOL.
LXXXX.
Trr-
So (at
hibits
as
the individual cities
concerned* i^ew York
are
ex¬
gain of 37.9%; Boston, 16.2%; Philacieiphia, 45.9%;
Baltimore, 23.6%; St. Louis, *6.7%; and New Orleans,
17 .6%; while Chicago exhibits a loss of
0.8%.
Returns
a
by Telegraph—Week end. Jan. 8.
101ft.
•19Q9.
*«»js
Boston
Philadelphia
178,582,589
34,747,363
250,497.882
day...L.;..
+6.7
10,989,765
+17.6
$3,594,774,775
$2,716,859,040
565,48),236
470,169,247
+32.3
+2Q.3
$4,160,256,011
$3,187,028,287
Total all cities for week
i
? ,
-
-
*
?
.
-
r.
j
~
St**.:*: rJ
$4,860,258,429
,-T
*vij.
t
585,417,418
+30.5
+ 19.4
$3,772,445,705
+ 28 8
"
7d0,002,418
tfw
m.
December.
?.
i.
)
1.
..
1909.
.
Inc. or
l>et.
1908.;
65,304,536 41,356,126
"21,958,321 15,623.364
33,687,200
28,965,902
29,085,749
37,442,480
25.813,605
21,866,337
9,350.216
Sacramento...
Fargo
San Diego....
Fresno*..
.......
StOcKton
.....
sanjSe....;.
Sfcwfc Falls
...
Nor.
Yakima*.
Billings
......
7,338,031
4,702,346
3,306,647
4,629.843
Wt
IlM
2.866.959
.
3,356,101
3.177.631
2.627.959
2,455.116
2,176,148
2,033,132
3,681,183
2,836.506
1,730,287
1,375,803
1.131,860
973.739
1908.
Inc. or
Dec.
$
%
%
,979.872,570 1,757,151.850 + 12.7
673.T65.729 505,588,756 +33.1
+33.7
586,696,855
429,499,252 +36.6
+ 40.5
206,504,834 153,895,741 +34.2
+ 14.2 337^493,363
257,033,974j +31.3
+28.7
391.029,061
310,656,514 + 25.9
+ 18.1
280^78,801 218,113.771 +28.8
+27.4
96,520,998
76,499,911 + 26.2
—1.51
47.964,183
41.300.978 + 16.1
+65.6
54,612.723
44,014,126 + 23.8
+ 48.6
40,583,110
30,894,939 +31.4
+48.8
52,276.425
37.665.853 +38.8.
+ 30.3
29.108,946
20,568,154
+31.8
29,195,022
24.179.908 +20.7
+ 29.2
25,592.841
23,246,315 + 10.1
+29;8
35.878,893
20,251.108 +22.7
+25.8
19,166.405
9,617.348
+ 16.2
10,981,350
9,765,559 +12.5
Total Pacific 472,169.916 371,429.195 +27.1 4,849,146,758
*
3,948,758,555
+ 22.8
Not Included in total for month and twelve months; comparison
incomplete.
Week ending January 1.
Clearings at—
Inc.
1910.
36,991,862
11,560,000
10,120,402
3,500,000
5.942,345
6.2QQ.Q0Q
4,966,038
1,756,780
813,158
Los Angeles
Seattle .:.
Spokane
City..
Oakland
Helena
Sacramento
947.985
650.103
986,000
585.773
472,495
430,000
650,000
270,000
179.277
Fargo
San Diego
Fresno
Stockton
San Jose
Sioux Falls
North Yakima
Rill toga
1909.
..
....
Total Pacific..
87.012,218
or
Dec.
$
San Francisco...
Salt LAke
Portland
Tacoma
.
1908.
%
+ 9.6
+25.0
+33.3
+21.4
+ 24.2
33,759,356
9,244,341
7,592,165
3,883.570
Capital, $200,0p0.
4,786,178
5.000.000
4,600,000
1,736.017
782,271
764.831
538,452
+3 9
+23.9
+20.7
750,000
408,852
416.921
400,000
+31.5
762,735
—14.8
209,014
+29.2
+3.0
6,514,157
2,359,238
2,608,177
4,236,612
4,737,154
1,299,149
641,798
+ 8.0
+ 1.2
NATIONAL
V’
9,615—The -First
174.104
74,808,807
Acton, Cashier.
9,617—The Fulton National
Bank of Atlanta, Ga.
Capital, $300,000.
W. Ji Blalock, President.
J. Bashlnski Jr. and M. R. Emmons.
Vice-Presidents; A. B, Simms, Cashier.
The First National Bank Of Vienna, Ga.
Capital, $50,000. T. H.
STOCK Of MONEY IN THE COUNTRY —The
following table shows the general stock of money in the country,
as well as the
holdings by the Treasury, and the amount in
circulation,
on
1909 will be
found in
,
the dates given. The statement far January 1
our issue of January 9 1909,, page 82.
•
®(W>.
,
Gold com and bullion
Gold certificates.a
Standard sQver dollars
Silver certiflcates.a.
Subsidiary silver..
Treasury notes of 1890
United States notes
National bank notes
**** •f******* m m
548,868
323,328
309,000
495,000
59,629,358
300,000
467,561
94,320,771
**^*i*vrr>v>iYv>ivvuiTnfvvviiYi
English Financial Markets—Per
wvwvryw
Cable.
The
as
daily closing quotations for securities, &c., at London,
reported by cable, have been as follows the past week:
London,
Week ending Jan. 7.
Sat.
Silver, per os
..d.
Consols, new. 2** per cents..
For account
French Rentes (In Paris).. fr.
Mon.
24 3-16
82 15-16
83 3-16
98.92**
Amalgamated Copper Co
Mining Co......
A Santa Fe
127 **
Baltimore A Ohio
Preferred
Canadian Pacific
106**
122**
941*
187**
b Anaconda
<-
Chesapeake A Ohio.
Chicago MUw. A St. Paul...
Denyer A Rio Grande
Preferred
Erie
Flift preferred—
i.
Second preferred
Illinois Central-- Louisville A Nashville
Missouri Kansas A Texas...
^(fjterrcd
National RR. of Mex 1st pf.
Second preferred
N. Y. Central A Hudson
,
N. Y. Ontario A Western...
Norfolk A Western
Preterted .1
Northern Pacific
a Pennsylvania
a Reading
a First preferred
93 H
11**
04
162**
53**
87**
35**
53**
42**
153
161**
51**
76
66
27**
129
50**
102
92
149**
m Second preferred
Rock island
Southern Pacific
Southern Railway.-.
Tues.
92**
10**
125**
106**
121**
94**
186
93
161**
52**
86
34**
52**
M
lt\*
75**
64**
26**
127**
50
101**
92
148
tjxtgndcfl 4*-—-----•
Price per share.
b£ sterling.
90
126 J*
125
106**
121**
94**
186**
106**
94**
161**
52**
86**
35**
53**
42**
160**
164
51 Ji
76
64
26**
127**
51
103
92
148**
70
87**
47*
86**
57
56**
87**
47**
47*J
34
—
92**
10**
69**
Preferred
Union Pacific
V. S. Steel Corporation
Preferred
We
*
.
70**
57**
—-
Thurs.
24 H
24**
24 3-16
82 11-16 82**
82**
82 J*
82 13-16 82 9-16
98.95
99.02** 99.12**
139**
Preferred
Wed.
105**
m*
27
56
56**
141**
34**
76
208 J*
106
liSmin Ci’?T7~
Treasury, d
1910.
S
*1,434,108,821 157,103,539
_
162;8QL.i37
3,942,000
346,681,016
710,354,253
Total
1909.
t
606,212,413
789.907.069
74,763,076
84,885,800
564,334,719
2,216,644
12,965,542
619,31;
I,8(
72,443,593
470.837,799
136.063,865
4,589.189
336,422,969
6(51.780,438
474,380,458
15,882.549
8.162
146.968,588
3,933,838
338,866,263
687.113.834
7.814,753
23,240.419
3,426.221,946 304,067.408 3.122,154,538 3,092.315,703
Jan. 3
Population of the United States
capita, $34 83.
__
1910 estimated at
per
89,644,000; circulation
*
A revised estimate by the Director of
the Mint of the stock of
adopted in the statement for Aug. 1 1907. There was a reduction of geld ootn was
$135,000,000.
a Foy redemption of
outstanding certificates an exact equivalent In amount of the
appropriate kffids of money fs held in the Treasury, and is not included In
the
account of money held as assets of the Government.
a This
statement of money held in the Treasury as assets of the Government does
not Include deposits of public money tn national bank
depositaries to the credit of
the Treasurer of the United States,
amounting to $35,324,066 85.
The following shows all the dividends announced
for the
future by large or important corporations:
Dividends announced this week are printed in italics.
Per
Cent.
Name of Company.
Railroads (Steam).
Atchison, Topeka A SantaEe, com. (quar.)
10**
120**
95
185**
92**
169**
51**
85**
34**
53**
43
150**
162**
50**
76
63**
26**
126**
50**
102
93
147**
69**
86
47**
55**
50
140**
33**
W**
Fri.
24 1-16
82**
82 9-16
99.20 *
90**
10%
125 H
106**
121
50?*
101**
92**
147
69**
86**
47**
55**
50
140?*
34
75**
207
207
105**
105**
12^** 12?$
27*|
nH
78
77**
90**
127**
26
59
•78**
....
Hocking Valley, common and preferred.Kansu City Southern, pref. (quar.)
Lake Shore A Michigan Southern...:...
Guaranteed stock(Mich.Sou. ANor.Ind.)
Lehigh Valley, common.....
Preferred
Little Schuylkill Nav., RR. A Coal
Louisville A Nashville
Michigan Central
Mine Hill A SchuyBUU Haven.
Minneapolis A St, Louis, preferred
N. Y. Central A Hud. River (quar.)
Norfolk A Western, preferred
.......—i—
White Pass A Yukon
*
Boston
Ry., preferred..
(quar.).
Consolidated Traction of N. J
East St. Louts dt Sub., pref. (qu.)(No. 15).
El Paso Electric Co., pref. (No. 15)
Green db Coates Sts. PhUa. Pass
Jacksonville Electric Co., com. <[No. 11)..
Preferred<No. 15)
-
Manchester Tree., Lt. A Power (quar.)..
MetropolltanWest Side Elev.. Chic., pref.
Mtlwa^ikce Elec. Ry. A Light, pref. (qu.)
New Orleans City HR., common
........
Preferred
Northwestern Elevated, preferred (quar.)
Old
%
Mch.
Jim.
Jan.
Jan.
Jan.
?*
1*
2
1
6
6
3
5
2
3
3
Jan.
Feb.
Jan.
Jan.
Jan.
Jan.
Feb.
Jan.
Jan.
Jan.
Feb.
2
4
1**
2*4
¥
Jan.
Jan.
Jan.
Jan.
Feb.
Jan.
Feb.
Ian.
Feb.
Jan.
Feb.
Jan.
Jan.
Jan.
Suburban Electric Companies...
Cine. Newport A Cov.L.ATr., com. (qu.)
Preferred
Jan,
Feb.
Mch.
Jan.
...
Street ft Electric Railways.
Aurora Elgin A Chicago, com. (quar.)...
Preferred (qua*.)
Boston Elevated Ry~Boston db Northern Street
Jan.
1H
IH
2*<
2**
Southwestern of <7«w<o.-...
Texas Central, preferred
Jan.
Jan.
2
2
2
%
IH
Reading Company, common
Southwestern, preferred
53
Jan.
Jan.
Feb.
2**
St. Louis
34**
64
26 J*
127
Pennsylvania.!
Georgia, RR. A Banking (quar.)
Preferred
61**
86J*
41**
150**
162**
51*<
76**
East
Northern Central (No. 90K-.
Northern Pacific (quar.)..
Northern Securities Company
-..
Pittsb. Cine. Chic. A St. Louis, common.
95**
186
93 H
159
Feb.
3
2
1H
Prior lien and participating stock
Cleve. Cin. Chic. & St. Louis, com
Granite Ry.Great Northern (guar,)*
Gim A Ship Island..
2**
2**
Preferred (quarterly)....
Cuba RR., preferred
Delaware A Hudson Co. (quar.)..
Delaware Lackawanna A West. (quar.).
Denver A Rio Grande, preferred
When
Colony Street Ry., preferred
Ottumwa (Ia.VRy. A Lt., pref. (quar.)..
PaetfU Coast Power (No. 4)....
Philadelphia City Passenger. .
Philadelphia Company, com
‘
....
fi
Jan.
Jan.
Feb.
3
Feb.
$1
Ian.
b
Jan.
Jan.
Jan.
1H
Feb.
3
Jan.
$1**
3
3
Jan,
Feb.
:*
Books Closed.
Days Tnctusive.
Payable.
Mch.
Preferred
Atlantic Coast Line RR.. common
Bangor db Aroostook
Canada Southern
Chattahoochee db Gulf
Chicago A Alton, preferred
...
ri^*i^‘vvvvvvvvvv\>vvirir **
Capital, $25,000.'
DIVIDENDS.
46.504,234
1,308.358
8,486,033
2,431,941
6.447,212
6,282,515
4,386,494
4,412,424
973,131
396,886
+ 16.3
BANKS ORGANIZED.
December 22 to December 28.
Natldnal Bank of Reynolds, Ga.
g^H^eNelsler, President; J, N. Bryan, Vice-President; J. H> Nelsler.
519.436
+ 43.3
+ 13.2
+ 7.5
.
$
28,133,423
7,256,000
+24,0
-•*
NATIONAL BANKS
approver.
Ventura, Cal., into the “National Bank of Ventura.’"
— ■„
Bank of
"
•
INTO
1907.
$
.
CONVERT
=3=
1909.
.
:
TO
OaslifeT* Pre^dent; Ed’ Howell, Vice-President; Chas. S. Guru,
Twelve Months.
.
Poilia1^^"
rn-
page.
...
*
1 t
f
% '
San Francisco. 193,624.188 151,607,402 +27-7
Lois Angeles..
66.463.775 53,036,035 +2*3.4
ipbkfthe-II.II
:
The
•___
Pacific (Hearappa brought forward from first
Cheatings
APPLICATION
+37.9
66,233,252
70,657,836
23,509,314
Total/all,cities, 5-day*.....
;
All cities, I
122.396.498
i
Currency, Treasury Department:
+ 16.2
+45.9
+23.6
—0,8
New Orleans
days.-l
Qth^r CiOee. 5 ,day»r--—
,
28,108,631
252,615,419
Baltimore
Seven cities, 5
%
Feb.
Jan.
1H
Mch.
Jan
1
1
1
10
10
1
1
15
lbi
20
1
21
20
15
18
Holders of rec. Feb. 7a
Holders of re«. Dec.3Qa
Dee. 18
to
Jan. 10
Holders of rec. Jan.
7
Holders of rec. Dec. 31
Dec. 25
to
3
Jan,
Holders of rec. Dec. 30a
Holders of rec. Dec .30a
Holders of rec. Feb. 7a
Holders of rec. Dec. 29
Holders of rec. Dec. 31
rec. Feb. 26
Holders of rec. Jan.
4
Doe. 25
to
Jan.
4
Holders of rec. Jan. 8
Jan.
17
15
28
1
Holders of n
Holders of rc
Holders of rc
Holders of
61 Holders
8
15
10
28
rc
of rc
Holders of
rc
Deo. 28
Dec. 31
Dec. 31
S3:11
Dep. 24
Dec. 21
Jan. 21
Jan.
Holders of
15 Dee. 21
I
Holders of
Dec. 11
1
18 Holdens of
15 Holders of
l Holders of
10 Dec. 31
15 Holders of
15 Holders of
1 Holders of
Dec
if
15 Holden of
5 Dec. 16
14 Jan.
6
15 Jan.
1
10
10
15
1
15
15
15
J(ui.l2a
Jan. 10
Feb. 5
Jan.
rec.
rec.
Jgn.
7
1 Holden of rec. Jan.
1 Hold ere of rec. Jan.
Jan.
Jan.
10 Jan.
1
3
Jan.
Feb.
18
IK. Jan.
15
IH
17
10
1
10 Jan.
1
1
1
9
26
26
15
15
3
Jan. 15
1
to
1
to
Jap.
15 Jan.
l
to
Jan
1 Holders of rec. Jan.
10 Holden of rec. Dec.
*
81; Holders of
5
Jan.15a
Dec.3la
Jan.
5
Jan. 16
Jan. 15
Holden of
Holden of
Holden of
__
Dec. si
Dec.
Dec.
Feb.
Jan.
Jan.
.
D«e. 96
Jan. 31
Dec. 81
to
to
to
Jan.
14
31
Jan. 14
Dec. 24
Dec. 24
Feb. 6
M
Feb.
to
rec.
2**
....
1
Jan. 14
If Holders of
Jan.
8
Holders of tec. Jan 10*
ih
15
14
15
30
15
15
l
rec.
Jan.
rec,
Jan.l6e
Jin. a
to
to
Jan.
to
Jan. 18
Holden of rec. Jan. 15
Jan
l
to
Jan. 10
Holden of rec. Jgn. 8
Dec. 30
to
Jan. 10
Holden of rec. Dee.Xl7
Jan, 8 mo.
THE CHRONICLE
89
•
Per
Cent.
Name of Company.
Street and Electric Railway*—Con.
Porto Rico Rys., Ltd., pref. (qu.) (No. 1)
Public Service Investment, coda. (No. 1).
1X
IX
IX
Preferred (No. 3K.
St. Charles Street RR. (New Orleans)
Seattle Electric Co., common (No. 5)
Twin
$3
IX
City Rap; Tran.. Minneap., com.(qu)
IX
Union Traction of Indiana, common
Hotted Rys. of 8t. Louis, pref. (quar.).
2-3
IX
When
Books Closed.
Payable.
Days Inclusive.
Jan.
10 Holders of
1, Holders of
1 Holders at
1 Holders of
15 Holders of
15 Holders of
10 Jan.
5
10 Dec. 24
Dec. 31
15
rec. Jan.
15
rec. Dec. 31
rec. Jan.
1
rec. Jan. 21
to
Jan. 10
to
Jan. 10
29 Jan.
29 Dec
1
to
Jan.
25
to
Ian.
10 Jan.
1
to
Feb.
Feb.
Jan.
Jan.
Feb.
Jan.
Jan.
Clearing-House Banks.—rTh$r
detailed statement below shows the condition of the hfaw
York Clearing-Bouse banks for the week ending Dec. $1,.
The figures for the separate hanks are the averages gf
daily results. laths case of the totals, the actual figures
at tie end of the week are afao given.
rec.
rec. Jan.
We omU*oo cipbprs (00> la aU cases.
Banks.
Copper, National (quar.) (No.
Mechanics’ National (special)
Reserve, National
Trust
2
21
3
4)
...
12X
Common (extra)
....
(special)
l
IX
Jan.
IX
Jan.
Jan.
Jan.
IX
IX
1
2
1
Refg.. com. (quar.) (No.25
American Telephone <fc Telegraph (quar.
American Type Founders, com. (quar.).
Preferred (quar.)
IX
IX
American Woolen, pref.
(quar.) (No. 43)
Anaconda Copper M’n’g (quar.) (No. 8y).
Assoclated Merchants, 1st pref. (quar
First preferred (extra).
Second preferred (quar.)
Second preferred (extra)
Bell Telephone of Canada (quar.)
Central Coal A Coke. com.
Preferred (quar.)
50c.
IX
X
IX
X
fa
Jan.
Jan.
Jan.
Jan.
Jan.
Jftn.
Jan.
Jan.
2
fw.
IX
IX
Jan.
;
Central 4c S. A.
Corp. of United Cigar Stores (quar.)
Extra
Detroit Edison (quar.)...
=
X
1
IX
7X
,
!*
Pope Manufacturing, preferred (quar.)..
Propter A Gamble, preferred (quar.)
Quaker Oats, common (quar.)
Common (extra)
IX
2
IX
X
3
Realty Associates (No. 14)
....
2
1
San Diego Cons. Gas A El., pref. (quar.)
Securities Company..
IX
Standard Underground Cable (guar.).
Extra
3
3
United Dry Goods Coe., com. (quar.)
United Fruit (quar.) (No. 42)
United Gas Improvement (quar.)
United States Rubber, 1 ft Pref. (guar.)
Second preferred (guar.)
U. S. Smelt.. Ref, A Min., com. (quar.)
Preferred (quar.).
Va -Caro Chem.. pref. (qu.) (No. 67)-Vulcan Detlnnlng, pref. (quar.)
Preferred (extra)
..
....
Wells, Fargo A Company
Extra
Jan.
Jan.
&
14
...
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jah.
1
1
3
2
2
2
2
IX
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Feb,
Jan.
Jan.
Jan.
Jan.
1
Jan.
P
Jan.
Jan.
IX Jan.
X* Jan.
5
$300
X
2X
Jan.
Feb.
Extra
IX
Jan.
Jan.
Jan.
Special
1
Jan.
IX
IX
Jan.
Westlnghouse Air Brake (quar.).
Feb,
a Transfer books not
closed. 6 Less Income tax
accumulated dividend, g Payable in common stock.
6.
to
11
9
Jan.
9
to
1
15
1
21
15
15
15
15
15
15
15
15
19
15
15
15
15
Jan. 20
to
Jan. 20
to
Jan. 20
to
Jan
5
to
Jan.
to
1
Holders of rec
Jan.
4
to
Dec 25
to
Holders of rec.
Holder*-of rec.
Holders of rec.
Dec. 25
to
Holders of rec.
Holders of rec.
Holders, of rec.
Holders of recHolders of rec.
Jan.
Jan.
Jan.
3,000,0
1.500.0
i;ooo,o
3.851.2
5,894,9
26,457,0
685; 5
407,0
28.853.0
Chemical
3,000,0
6,183,0
35,578,0
4,587,0
Merchants’ Ex
600,0
1.000.0
568.2
8,306.0
166,730,1
28,073,0
6.453.9
1,912,0
25,000,0
1.493.1
8.009,9
1.183.4
158.7
406>
2.418.9
474.3
1.789.7
85,5
200,0
2,000,0
America
A Drov.
300,0
Greenwicb
Amer. Exch...
500,0
Dec.31a
Jan. 16
Jan.
2
Dec. 31
Commerce
.
Mercantile
Pacific
—
People’s
Hanover
10
5
8
8
8
8
8
_
200,0
Metropolitan
ExchangeXmyp. & Traders’
Park
..
East River...^
Fourth
Second
First
Irving Exch..
Bowery
N. Y. County-
Holders of rec
Jan.
4
to
to
4
15 Holders of rec.
German-Amer
Chase
Fifth Avenue..
German Exch
Germania
Lincoln
25 Holdens of rec.
1 Holders of rec.
1 Holders of rec.
15 Holders of rec.
15
15
Jan. 15
Dec. 4a
Fifth
29 Holders of rec.
15 Jan.
5
to
15 Holders of rec.
1 Feb 10
to
1 Feb. 10
to
1 Jan. 13
to
to
1 Jan. 21
20 Jan.
1
to
1 Holden of rec.
15 Holders of rec.
16 Holden of rec.
15 Holders of rec.
1 Jan. 19
to
1 Holden of rec.
1 Holders of rec.
15 Holden of rec.
15 Jan.
6
to,
20 Holden of rec.
7 Holders of rec.
15 Holden of rec.
10 Dec. 29
to
20 Jan.
to
1
20i Jan.
1
to
15 Jan.
1
to
15 Jan.
1
to
15 Jan.
1
to
26
15 Holden of rec
25 Holden of rec.
Jan. 10
Jan. 16
Jan.
5
Mch. 1
Mch. 1
Feb.
1
Feb.
1
Jan. 16
Jan. 31
Jan. la
Jan. la
Dec 31
Feb.
1
Jan.
8
Jan.
8
Dec.28a
31
15
15
15
16
15
15
15
15
15
20
10
10
10
25
15
10
1
15
15
3J
31
15
15
15
20
20
15
10
15
10
10
10
15
1
5
5
Jan.IOd
Dec. 31
10
Holders of rec. Jan. 21
Holders of rec. Dec 31a
Holden of rec. Jan. 4a
Holden of rec. Jan. 4#
Holden of rec. Jan.
6
Holden ot rec. Jan. 6
Holden 0! rec. Jan.
5
Holders ol rec. Jan.
3
Jan.
1
Jan
to
lOd
to
Jan, 1
Jan. 15
HbUtesi of rec. Jan. 7
Holden of rec. Jan.
5
Holden of rec. Jan. - 5
Holden of rec. Jan.
5
Jan. 16
to
Jan. 25
of
Holden
rec. Dec. 31
Jan.
1
Jan. 10
to
Holders of rec. Jan- 24
Holden of rec. Dec. 24
Holden of rec. Dec. 31
Jan. 16
to
Feb.
1
Jan. 16
to
Feb.
1
Holden of rec. Dec. 31
Holders of rec. Dec. 31
Jan.
1
to
Jan. 16
Holden of rec. Jan. 10
Holden of rec. Jan. 10
Jan.
4
to
Jan. 15
Holden of rec. Jan.
3
of
rec.
Dec.20a
Holden
Jan.
to
Jan. 10
1
Jan.
1
to
Jan. 10
Jan.
1
to
Jan. 10
Jan.
6
to
Jan. 16
Holden of rec. Jan. 22
d Correction,
e
Jan.
On account
Stocks.
Bonds.
200 Eureka Consol. Mines Co. of
$11,000 Guayaquil A Quito RR. 1st
N. Y., *5 each
.......131 tot
6s. 1682. J. A Jt63
54 Consumers' Brew. Co: of Bklyn. 47
$60,000 Lima Oil Co. 1st 6s, Nov.
26 Union Exch. Nat. Bank...... 19ftU
1(K>7*coupobsattached;...
>, 8300
Bonds.
Lima
11,000 Amer. Finance A Secur. Co.
6s with IS shares stoek wBfeilus. * 65%
Ima OfCo. 1st 6s, Nov.
1607 coupons attached
8260 tot
Qll.pOy,
86.pgpj)._—
tot
500,0
750,0
5,000,0
100,0
200.0
200,0
1.000.0
.
Garfield
Jan.
Jan.
4
31
10
16
16
1.000,0
10,000,0
2,000,0
250,0
Dec. 31a
Jan. 15
Jan. 15
Dec.dia
15 Holders of rec. Jan. 3a
31 Holders of rec. Jan. 10a
29 Holders of rec. Jan. 8a
5a
3,000,0
.....
15 Jan.
nffi
1.486.6
500,0
1.000,0
2,000,0
3,000,0
1,500.0
3,000,0
250,0
Corn
r
Jan.
Jan.
Dec.
Jan.
Jan.
Jan.
Jan.
Jan.
3.000,0
2,550,0
Citizens’ Cent..
Nassau
Market* Fult’n
Jan.
1
to
Jan. 16
Holders of rec. Dec. 31
Holders of rec. Jan. 13
)
45o|o
Chatham
Jan. 10
Jan.
Jan.
—
5,000,0
25,000;0
3.000,0
2.443.1
153.4
777.4
5.095,1
15,694,3
2.570.8
897,6
1,026,2
464,8
1,668.0
1.362.9
5.254.1
7,504,0
9.912.5
105,2)
3.543.1
1.899.3
19,808,6
1.516.3
802,0
1,642,
667,
7,040,4
2,069,9
894.0
1,006,5
1.408.9
Metropolis
West Side...
Seaboard
7.461.9
4.789.7
16.720.6
1,139,0
1.821.6
705.4
863,0
Copper
1,000,0
2,000,0
334.5
2,834,3
Coal A Iron
1,000,0
326.3
32,450,0
1,439,0
2,433,0
1.885.8
4,855,0
16,613,0
25,454,0
21.403.1
8,077,0
154,152,3
2,229,4
26,127,4
6,465,9
0,102,4
2.514.8
8.275.5
1.475.6
22.843.1
8,567,2
874.3
507.4
1.085,4
111.5
114,255,9
10,807,7
3,425,2
7.485.9
2,510,7
06,068,0
20.117.2
6.762.5
7,555.
13,045,
49,097,0
3.172.9
8,079,0
3,582,0
22,135,0
441.5
3.463.0
2,364,0
20,802,0 1.707.9
4.597.8 1.194.7
884,0
54,0
651.9
1.303.8
812.3
215.5
14.518,0 3.901.8
2.666.4 1,104,6
6QQ.Q
500,0
840.3
494,4
774.3
3.769,0
297
3
2.133.5
271.2
616,0
1,110,7 1.906.8
944,0
258.0
3,921,0 1.439,0
842.3
3.178.9
2.154.2
243.9
3.708,0
200.0
15,974,0
1,707.0
1,060,9
882,1
249.2
4,475,0
2,090,0
1,067,0
93,4
2.140,0
699,0
1.139.2
21.135.8
3,714,0
7.850.1
4.196.9
72,994,3
12,897,1
3.512.1
11.265.9
4.365,0
'4th Street....
574.9
12.390,0
102,181,0
483.5
$
1,102.0
7,377,1
328.7
4.859.5
12,623,0
41,597,0
25,370,0
80,000,0
1.600.9
20.015,0
1.147.1
2.704.4
1,995,0
511.4
886.9
581.3
9,078.9
7.819.3
2,020.2
1,000,0
1,000.0
4.759.9
20,824,6
59,624,0
20,878,9
6.155.1
250,0
S. Y. P»od. Ex.
Liberty
3.444.6
29.178.5
139,464,0
1,4.162,8
3,065,3
7,007,1
1.952.6
1,000,0
1,000,0
l.ooo.o
2,978,0
6,752,0
2,805,0
3,250.0
21,918,0
7,783,0
1,000,0
....
Deposits.
Average.
$
$
8
2.050,0
....
Phenix
City
31
31
31
23
Legale.
Specie.
Average. Average.
18,647,0
28,700,0
17,097,0
2,000,0
Jan.
Jan. 15
Jan.
Jan.
Jan.
Jan.
Jan.
Loans.
3.465.5
4.126.6
1.693.7
—
20
8vrplus.
Average.
Merchants’
Jan. 23
Atfatfaji Safas.—Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction.
By Messrs. Adrian H. Muller & Son:
Capital
8
Mechanics’
;; • (
15
8
15
20
10
15
Feb.
2X Feb.
Jan.
2
HartHsorv-WalkerRefract., pref. (guar.).
IX Jan.
Illinois Brick....
IX Jan.
Intelnat. Buttonh. Mach, (quar.) (No.49
Jan.
1
Mch.
1
International Nickel, common (quar.)..
Common (extra)
X Mch.
Preferred (quar)
IX Feb.
Internal. Steam Pump. pf. (gu.) (No. 43).
IX Feb.
La Rose Consolidated Mines (quar.)
Jan.
I
2
15 scr. Mch.
Lehigh Coal A Navigation (special)
Massachusetts Lighting Coe. (quar.)
IX Jan.
Extra
IX Jan.
Mexican Telegraph (quar.)
2X Ian.
Feb.
Michigan State Teleph., pref. (auar.)
1
Feb.
Minneap. Gen. Elec., com. (qu.) (No. 10)
3
Feb.
Preferred (No. 22).
....
National Biscuit com. (quar.) (No. 45).
IX Jan.
National Carbon, com. (quar.)
Jan.
I
National Fireproofing, preferred
Jan.
National Licorice, com. (guar.) (No. 15)..
3
Jan.
New England Telep. A Teleg. (quar.)...
IX Jan.
3
Jan.
New York Mutual Gas Light
5
Jan.
NlpissJng Mines (quar.)
2X ■Jan.
1
Jan.
Nova Scotia Steel A Coal, Ltd., com
2
Jan.
Preferred (quar.)
IX Jan.
Oklahoma Gas A Electric, oref. (quar.)..
Osceola Consolidated Mining
6
Jan.
Otis Elevator, pref. (quar.)..—
IX Jan.
Pittsburgh Coal, preferred
IX Jan.
Special
Jan.
Banks.
00s omitted.
15 Holders of rec. Dec. 27
15 Jan.
6
to
Jan. 16
15 Jan.
1
to
Jan. 15
15 Jan.
1
to
Jan. 15
Jan.
Jan.
Jan.
....
Jan.
22 Jan.
20
Jan.
IX Jan.
IX Jan.
IX Jan.
2
Jan.
IX Ian.
Jan.
1
$1.50 Jan.
50c.
Jan
2X Jan.
1
Jan.
(quar.).....
Eastman Kodak, common (extra)
Edison Elec. III., Boston (gu.) (No. 83).
General Electric (quar.).-.
Jan.
Jan.
Jah.
Jan.
Feb.
Feb.
Feb.
Jan.
Jan.
1
1
1
2
2 Ho
Preferred (guar.)
Extra
17
Companies.
Miscellaneous.
American Cement (No. 21)..
American Chicle, com. (monthly)
Am. Smelt. <fc
Jan.
Bank, ot N. Y.
Manhattan Co.
Union (quar.)).
Common
Jan.
!rir *
Statement of New York City
17.669,0
16.679,5
7.915.3
U.231.0
5.401.3
25.996.9
5.821.0
22,583,0)
89,673,0
1.899.9
21,533,0
12,060.0
89,950,0
22.428.3
3,870,0
7.953.6
4,074,6
76.550.6
14,523,0
t
18,2
8,3
3,6U_„
11.398.4
4.702,0
20.235.Q
15.942.7
9,400,4
4.176.0
1,038,9
298,0
610,2
17,535,0
6,145,0
5.746.5
881,0
344.2
628.0
26.023,2
5,843,0 25.
Totals, Average 127.350.0 180.024,4 1194,610,7 231.390,4 67,730,9 1171,732.4 25.5
Dec. 31
Actual figures
1906-.-. 1196,598,0 228,097,3 68,257,4 1171,462,4 25.3
On the basis of averages, circulation amounted to $52,497,400 and United States
deposits (Included in deposits) to $1,612,300; actual figures Dec. 31, circulation.
$52,479,100; United States deposits. $1,559,800.
The State
Banking Department also
furnishes weekly
companies
under its
1
! charge.
These returns cover all the institutions of this class
j
in the whole State, but the figures are compiled so as tp
distinguish between the results for New York City (Greater
New York) and those for the rest of the State, as per the
following:
1
now
i returns of the State banks and trust
;
Week
ended
Dec.
,—*
State
Trust Cos.
Trust Cos.
State Rank*
in
in
outside of
outside of
Greater N. Y. Greater N Y. Greater N. Y. Greater N. Y
31.
-
.
$
26,075.000
63,425.000
♦8,708.000
*7,725,000
38,586,700
167,632,400
♦10,585,699
♦10.155*540
291,591,300 1,111,915,800
—681,200
+3,600,900
89.039.700
—208,700
133.621.600
—344,300
Capital m ot Nov, 16
Surplus os of Nov. 16....
Loans and investments..
Change from last week.
Specie
.
$
$
'Change from last weak.
46,749,200
+1,434,000
116,084,000
+2,507,900
Legal-tenders A bk. notes
Change from last week.
24,566,600
+299.000
13.422,200
—10,100
%
->
Deposits
Change from last week.
335,326,900 1.136,258.700
+4,685.600
+6,752,100
92,269,300
—382,200
140.660,900
Reserve
93,054.200
+5,307 500
184.839,300
+2.686,900
18 203,700
18.037,990
+242,100
28.2%
27.1%
15.4%
15.3%
20.3%
19.6%
deposits
Change from last week.
on
P. G. -reserve to
deposits.
Percentage last week.
.
+ Increase over last week.
+423.500
Decrease from last week.
+407,300
13.4%
13.8%
• As of Sept. 14.
Note.—"Surplus” includes all undivided
ed profits.
"Reserve on deposits" loeludes, tor both trust companies and State banks, not only cash items, but amount#
due from reserve agents. Trust companies In New York State are required by
law to keep a reserve proportionate to their deposits, the ratio varying according
to location as shown below.
The percentage of reserve required is computed 0q
the aggregate ot deposits, exclusive of moneys held In trust and not payable within
thirty days, and also exclusive of time deposits not payable within 30 days, repre¬
sented by certificates, and also exclusive of deposits secured by bonds of the State
of New York. The State banks are likewise required to keep a reserve varying
according to location, but In this case the reserve is computed on the whole amount
of deposits, exclusive of deposits secured by bonds of the State of New York.
—Trust Cos.—
Reserve Required for Trust Companies
and Shale Banks,
Location—
Total
Reserve
Of
which
—State Banks—
Total
Reserve
Of,
which
Required, in Cash.Reguired. in Cash.
15%
15%
25%
15%
Brooklyn Borough(wlthputbrimehes in Msidist.).15%
10%
20%
10%
Other Boroughs (without branches in Manhattan). 15%
10%
7H%
15%
Any Borough with branches in Manhattan
...15%
15%
25%
15%
Elsewhere In State
10%
5%
15%
6%
M^nfosttjuni Borough
90
THE CHRONICLE
[Yol.
The
Banking Department also undertakes to present
Separate figures indicating the totals for the State banks and
trust companies in the Greater New York not in the Clearing
House. These figures are shown in the table below, as are
also the results (both actual and average) for the ClearingHouse banks. In addition, we have combined each corre¬
sponding item in the two statements, thus affording an aggre¬
gate for the whole of the banks and trust companies in the
Cheater New York.
We omit two
lxxxx
cipher* (00) in aU these figures.
Capital
Banks.
and
Loans.
Boston.
$
Dec. 11..
Dec. 18..
Dec. 24..
Dec. 31*.
Phtia.
Dec. 11..
Dec. 18..
Dee. 24..
Dec. 31..
$
40,300.0
40,300,0
40.300.0
40,300.0
$
190,821,0
4.544,0
189,345,0 21,881,0 4,695,0
189.256.0 21.554.0 4.387.0
188,936.0 21.698,0 4,631.0
56,315,0 255,192,0
56.315,0 258,565,0
56,315,0 258.694,0
56,315,0 258.618,0
68.153.0
68.364.0
66,068.0
66,748,0
$
$
$
$
.
21,082.0
Clearings.
Circu¬
lation.
Legals. Deposit*, a
Specie.
Surplus.
231.943.0
235,348.0
235.360.0
239.143,0
7.093.0
7,119,0
300.407,0
308.333.0
304.814,0
203,852,0
16.786.0
165,765,4
178.824.7
149,704,8
186,145.6
7,083.0
7,089,0
157,674,9
184.068.6
134,406,2
146,632,1
16.796,0
16,802,0
16,819,0
NBW YORK CITY BANKS AND TRUST COMPANIES.
a
Total of all
Clear.-House State Banks A
Trust Cos. not BanksA Trust
Banks.
inC.-H. Aver. Cos. Average.
Average.
Clear.-Howe
Banks.
Week ended Dec. 31.
ActualFigures
$
Capital as,of Nov. 16..
127,350,000
$
127.350.000
Surplus as of Nov. 16..
180.024,400
180,024,400
Loans and investments 1,196.598,000
73,550,000
$
200,900,000
176.431.300
356,465,700
+4,218,800
—2,868,900
Change from last week
228,097.300
—5,962,100
231,390,400
—4,388.200
122,770,200
+2,466,600
354.160.600
—1,921,600
Legal-tenders
Change from last week
68.257,400
—1.428.300
67,730,900
—1.568.600
522,078,800
+292.000
89,809.700
—1,276,600
Aggr’te money holdings
296,354,700
Change from last week
—7,390,400
299,121,300
—5,956,800
cl44,849.000
+2,758,600
443,970,300
—3,198.200
24,892,200
+3,808,100
24.892,200
+3,808,100
169,741,200
+6,566,700
468,862.500
+ 609,900
^
Money
deposit with
on
Other bks. A trust
cos.
Change from last week
Total
296,354.700
—7,390,400
299,121,300
—5,956 800
26.33%
25.55%
17.2%
Percentage last week..
25.92%
25.89%
16.7%
Surplus reserve
3,489,100
6,188,200
reserve.
Change from last week
Percentage to deposits
requiring reserve
m+
Increase over last week.
—
reserve
The averages of the New York Clearing-House banks
combined with those for the State banks and trust companies
In Greater New York outside of the Clearing House compare
as follows for a series of weeks past:
COMBINED RESULTS OF BANKS AND TRUST COMPANIES IN
GREATER NEW YORK.
Nov.
Nov.
Nov.
Nov.
Dec.
Dec.
Dec.
Dec.
Dec.
Deposits.
Specie.
$
$
$
Tot.
,
2,401,807,2
2,368,257,5
2,338,048,8
2,310,511,4
2,296,068,3
2,287,814,6
2.306.845,1
24- 2,400,207,6 2,327*891,3
31— 2,401,557,5 2,326,424,3
6— 2,447,785.3
13— 2.428.526,4
20- 2,408,090,7
27- 2,389,978,6
4„ 2,381,234,4
11— 2,371,455,0
18— 2,381,734,9
370,910,2
363,346,7
359,133.4
354,661,9
348,861,8
348,630,4
352,494,6
356,082,2
354,160,6
Money Entire Res.
Holdings. on Deposits
Legals.
$
91.315.1
91,080,3
89,784,9
89.617,2
91,137,3
91.157,5
93,113,6
91,086,3
89,809,7
$
462,225,3
454,427,0
448,918.3
444,279,1
439,999,1
439,787,9
445,608.2
447,168,5
443,970,3
$
485,366,9
475,809,2
471,633,4
465,572,1
461,180.6
461,271,6
467,258,3
468.252,6
468,862 5
Reports of Non-Member Banks.—The following is the
statement of condition of the non-member banks for the
week ending Dec. 31 1909, based on average daily results:
We omit two
1908.
1907.
1906.
$3,345,951
11,667,840
$3,710,104
11.657.492
$3,691,357
9.081.842
83.827.756
11,939,471
__
$15,013,791
$15,367,596
$12,673,199
$15,767,227
Since January 1.
Dry Goods
$170,509,631 $130,073,897 $185,173,366 $166,579,251
716.710,153 518.319.176 648.274.617 620,915,614
.
General Merchandise
Total 52 weeks
$887,219,784 $648,393,073 $833,447,983 $787,494,865
The
following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Dec. 31 and from Jan. 1 to date:
EXPORTS FROM NEW YORK FOR THE WEEK.
|
1909.
$11,027,838
619,355,150
_.
1908.
1907.
1906.
$9,054,628
627.542,578
$10,451,853
641.477,379
$11,231,310
603.054.379
i
$630,382,988 $636,597,206 $651,929,232 $614,285,689
The following table shows the exports and imports of
specie at the port of New York for the week ending Dec. 31
and since Jan. 1 1909, and for the corresponding periods in
1908 and 1907:
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
Imports.
Exports.
Gold.
Week.
Since Jan. 1
Week.
Great Britain
France
Since Jan. 1
$213,234
$13,972,720
13.881.732
$75
3,042.145
5,000
60.367,450
4,030,820
1,341
19,637
41,072
136.534
2,770,007
11,006
750.368
576,528
2,527,001
2.246.575
Germany
We omit two ciphers (00) in all these figures.
Loans and
Investments.
Total
Previously reported
Decrease from last week.
of the first week in January:
1909.
Dry Goods
General Merchandise
For the week
depositories
and other banks and trust companies in New York City”; with this Item included,
deposits amounted to $7,252,741,200, an increase of $9,974,900 over last week. In
the case of the Clearing-House banks, the deposits are “net" both for the average
and the actual figures,
b Includes bank notes, c Of this amount State banks held
$15,342,800 and trust companies $129,506,200.
Week
Ended.
For Week.
Total 52 weeks
Wa These are the deposits after eliminating the Item “Due from
ciphers (00) in all these figures.
are
for the week ending Dec. 31; also
FOREIGN IMPORTS AT NEW YORK.
+ 1,349,900
Deposits ..........L. 1,171,462,400 1,171,732,400 al ,154,691,900 2,326.424.300
—1,467,000
+6,531.900
—7.998.900
Change from last week —-1,414,300
At
$3,008,000 on December 31. against
Imports and Exports for the Week.—The following
the imports at New York
totals since the beginning
1,194.610,700 1,206,946,800 2,401,557,500
+4.610.300
Change from last week
$
Including Government deposits and the Item “due to other banks."
Boston Government deposits amounted to
$3,027,000 on December 24.
West Indies
Mexico
South America
All other countries.
$10,200
250,000
$260,200 $95,299,867
31,250 54.936,620
14,030 37,515,240
Total 1909.
Total 1908.
Total 1907.
$198,659 19.094.719
77.612 20,305,868
5,311.901 103,258,228
Silver.
Great Britain
France
Germany
West Indies
Mexico
;
South America....
All other countries
""‘"416
150,635
2,863
2,633,815
59,226
35,487
48,636
1,313,208
$743,525 $43,924,748
723,796 42,830.058
973,510 49,895.385
$206,959
90.761
88.545
$5,535,495
6,928,274
5,655,413
$4,409
*
200
Total 1909.
Total 1908
Total 1907
$236,021
13,785
77.239
135,715
$690,625 $39,678,219
52.700
3,988,275
11,590
151,951
1,125,712
the above imports for the week in 1909, 890
American gold coin and 551 American silver coin.
Of the exports during the same time, $260,200 were Ameri¬
can gold coin and $200 were American silver coin.
Of
were
Loans,
Legal
Disc'is
Banks.
N. Y.
Capi¬
Sur¬
tal.
plus.
and
Invest¬
ments.
Deposit with—
Tender.
Specie.
and
Bank
Clear¬
Notes.
Agent.
Other
ing
Net
Banks, Deposits.
Ac.
gauhitifl and ffittatxclal.
City.
Boroughs of
Man. A Brx.
Wash.Hgts.
Century
Colonial
Columbia
Fidelity
Jefferson—
...
—
...
Mt. Morris.
Mutual....
Plaza
23rd Ward.
Union Ex.N
Yorkville
New Neth’d
Batt.Pk.Nat
Aetna Nat.
—
$
247,4
151,8
311,0
458,9
159,3
586,9
287,6
328,5
412,4
103,9
959,3
446,0
243,5
150,3
315,9
$
100,0
200,0
400,0
300,0
200,0
500,0
250,0
200,0
100,0
200,0
1,000,0
100,0
200,0
200,0
300,0
$
$
$
1,350,0
124,0
61,0
1,448,2
185.7
31,0
5,229,3
767,3
422,3
6,286,0
653,0
589,0
973,5
90,4
66,1
3,542,7
16,9
549",9
423,3
2,481,8
40,9
3,828,8
32,6
572,2
325,0
4,104,0
399,0
1,794,1
184,0
54,3
8,727,0 1,170,4 1,000,0
4,022,5
60,7
776,3
2,175,0
269,0
76,0
1,193,9
210,3
35,8
392,0
1,978,5
37,3
$
197,0
55,8
593,2
786,0
92,5
329,9
342,9
470,4
505,0
246.1
153,0
207,3
199,0
51,7
131,3
$
-
222,4
170,4
873.6
74,1
5.2
541,1 3,346,3
798,7 5,932,7
934,7 10,832,8
966,4 6,310,0
607.5 3,879,0
144,0 1,825,4
.
30,3
389,0
206 9
565,4
285,4 1,242,9
482,0
255,0
120,0
591,0
138,9
89,2
285,1
769,9
1,413.8
931,0
645,0
206,0
253,3
5,162,9
10 0
2 253,0
INVESTMENT
SECURITIES
Our eight-page circular No. 687 describes
Investment bonds yielding about 4 H to 5)4%.
95,3
116,0
1,80312
Spencer Trask & Co.
NEW YORK
WILLIAM AND PINE STS.,
Brandi offices: Chicago, ILL.. Boston. Mass.. Albany. N. Y.
314,1
146,5
49,0
423,9
44,7
120,8
3,096,3
163,5
344,7
370,0
160,6
16,0
623,7
249,6
2,434,3
2,574,9
128,6
78,9
16,8
72,0
105,4
119,1
259,3
91,6
5,091,0
2,111)7
&
White
BANKERS
6,497'0
6,057)0
230,0
111,9
Moffat
3,758.9
249,6 13,833,7
4,602,7
2,784,9
2,172,5
Members New York Stock Exchange
5 NASSAU
THE ROOKERY
CHICAGO
STREET.
NEW YORK
7,307,2
BANKING and EXCHANGE of every description in connection with
2,489)5
EXPORTS & IMPORTS
2,003,2
International Banking Corporation
2,309)2
3,002)4
Tot. Dec. 31 8.147,0 12,395,9 95,830,8 7,095,0 8,318.0 12,440,9 2,838.4 110080,9
Tot. Dec. 24 8.147,0 12,395,9 95,191,7 7,176,4 8,098,8 10,636,8 3,302.2 107824,7
Tot. Dec. 18 8,147.0 12,395,9 94,992,3 7,303,3 8,082,4 14,919,0 2,721,9 111145.7
60 Wall St..
New York.
CAPITAL & SURPLUS. $6,500,000
BRANCHES and AGENCIES throughout the WORLD.
THE INTERNATIONAL
Boston and Philadelphia Banks.—Below is a summary of
the weekly totals of the Clearing-House banks of Boston
and Philadelphia.
several issues of sound
1,107,6
29,1
1,237,1
745.6
384,8
220,0
125,0
4,430,8
2,086,3
8,747,5
Hoboken.
First Nat..
Second Nat.
3,143,6
4,788)0
Borough of
Brooklyn.
200,0
Broadway
252,0
Mfrs.’ Nat.
Mechanics’.. 1,000,0
750,0
Nassau Nat.
300,0
Nat. City200,0
North Side.
Jersey City.
400,0
First Nat250,0
Hud.Co.Nat
200,0
Third Nat—
$
1,350,0
1,612,7
6,573,6
7,732,0
984,5
3,844,4
Organised under the Laws of N. Y. State.
BANK
00 Wall St.. New York*
Interest paid on Term Deposits.
THOMAS H. HUBS ARP President.
Accounts Invited.
Jan. 8
91
THE CHRONICLE
1910.]
Charleston, buying,
per $1,000 pre¬
count; bank, $1 per $1,000 premium.
hauliers' (@a2jette«
par; selling,
mium.
St.
St. Paul, 75c.
1-10 premium.
Louis, 30c. per $1,000 premium. Montreal,
Friday Night, Jan. 7 1910.
31%c. per $1,000 premium.
The Money Market and Financial Situation.—An advance
State and Railroad Bonds.—Sales of State bonds at the
in call-loan rates on Monday to 14%, with considerable busi¬ Board $12,000 Virginia 6s deferred trust receipts at 55 to 56.
The market for railway and industrial bonds has been
ness all through the early part of the week at from 8 to 9%,
an unexplained drop of about 10 poiuts in Rock Island com¬
somewhat more active, and the record of sales includes a
mon stock, and last, but by no means least, a good deal of
large number of issues. These characteristics of the market
apprehension as to the tenor of the President’s message to do not seem, however, to be due to an increased demand,
Congress, now forthcoming, and the recommendations it which is usually looked for at this season, as changes of prices
will contain, have caused liberal offerings of all classes of are generally to a lower level.
Nearly all convertible issues
stocks at the Exchange throughout the week and a sub¬ are, of course, lower in sympathy with stocks.
stantial decline in prices.
United States Bonds.—Sales of Government bonds at the
As the week draws to a close, the local money market has Board include $20,000 4s coup., 1925, at 115,$1,000
4sreg.,
assumed more normal conditions, and the probability of a 1925,
at 115% and $4,000 3s coup., 1908-18, at 101%.
recurrence of the rate mentioned seems remote.
Moreover, The following are the daily closing quotations; for yearly
the Bank of England has reduced its official rate from 4 %
range see third page following.
: ■
■
•
v,;
to 4%, and is supplying gold for export more freely than for
Jan.
Jan.
Jan,
Jan.
Jan.
Interest
Jan.
some time past.
This will naturally have a tendency to re¬
1
3
4
6
5
Periods
7
duce the engagements from this port, which for the week
*101
*101
*101
♦101* *101
amount to $1,850,000, part to go next week.
registered Q—Jan
Another 28, 1930
*101
*101
*101
♦101* *101
1930
coupon Q—Jan
noteworthy event of the week has been a rather sharp de¬ 2s,
*101* *101* *101* *101* *101*
registered Q—Feb
3s, 1908-18
cline in the price of cotton.
*101* *101* 101* ♦101* *101*
3s. 1908-18
coupon Q—Feb
small coupon Q—Feb HOLI¬
Unfavorable weather conditions throughout the country 38, 1908-18
DAY.
115* ♦114* *114* ♦114* *114*
4s, 1925
registered Q—Feb
Wall Street,
and a continuance of the switchmen’s strike in the North¬
west are showing in latest reports of railway earnings, and
strikes or rumors of strikes in the Central West are a more
or less disturbing factor.
These strikes do not, however,
meet with universal sympathy, and therefore the effect is
less harmful than would otherwise be the case.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from 4 to 12%. To-day’s rates on call were 5@6%.
Com¬
mercial paper quoted at 4%@5% for 60 to 90-day endorse¬
ments, 4%@5% for prime 4 to 6 months’ single names and
5@5%% for good single names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £1,075,768 and the percent¬
age of reserve to liabilities was 39.40, against 36.42 last week.
The rate of discount was reduced to 4%.
The Bank of
France shows a decrease of 7,350,000 francs gold and 2,025,000 francs silver. ‘
NEW YORK CITY CLEARING-HOUSE BANKS.
Capital
Surplus
.
Loans and discounts
Circulation
Net deposits
U. S. dep. (incl. above)
Specie
Legal tenders
—
Reserve held
25% of deposits
Surplus reserve
Surplus excl. U. S. dep.
1909.
Averages for
week, ending
Dec. 31.
from
previous week.
$
%
Differences
127,350.000
180,024,400
1,194,610,700 Dec.
52,497,400 Dec
1909.
Averages for
week ending
Jan. 2.
1908.
Averages for
S
*
week
ending
Jan. 4.
129,100,000
126,350,000
163.396.900
165,447,700
1,273,220.700 1,132,871,800
72,316,300
50,360,900
1,320,867,600 1,048,465,800
76,310.800
8,772,000
271,626,100
192.120.900
58,486,000
79.548,100
1,612,300
231,390,400
67.730,900 Dec.
2,868,900
113,700
7,998,900
146,100
4,388,200
1,568,600
299,121,300 Dec.
292,933,100 Dec.
5,956,800
1,999,725
6,188,200 Dec.
3,957,075
20.957.300 df.11,509,550
0,591,275 Dec.
3,993,600
23.150.300
1,171,732,400
Dec.
Dec.
Dec.
351;174,200
330,216,900
250.606.900
262,116,450
7,568,150
Note.—The Clearing House now issues a statement weekly showing the total
of the actual figures on Saturday morning.
These figures, together with the returns
of separate banks, also the summary issued by the State Banking Department
showing the condition of State banks and trust companies not reporting to
Clearing House, appear on the second page preceding.
the
*115
♦115* *115* *115* 115
*100* *100* •100* *100* *100*
*100* *100* *100* *100* *100*
4b, 1925
coupon Q——Feb
2s. 1936_Panama Canal regls Q—Feb
2s, 1938. Panama Canal regis Q—Nov
*
This is the price
bid at the morning board; no sale was made.
Railroad and Miscellaneous Stocks.—The stock market
has been more active than for some time past and has shown
a decided tendency to weakness, especially during the early
part of the week. On Wednesday the transactions reached
nearly 1,300,000 shares, and on that day also the lowest
prices of the week were generally recorded. This move¬
ment was led by a drop of over 8 points in Rock Island
and included practically every issue traded in. Since Wednes¬
day there has been a recovery, but closing quotations for nearly
all active stocks are 2 to 4 points lower than last week.
Among the issues which resisted the general trend of the
market, and have therefore covered a relatively narrow
range, are Baltimore & Ohio, Erie, Canadian Pacific, Gen¬
eral Electric and Laclede Gas.
The last named has been
unusually active throughout the week, and, except General
Electric, is the only stock which shows a net gain. Enor¬
mous offerings of United States Steel resulted in a drop of
nearly 4 points, and all the copper stocks are lower.
For daily volume of business see page 99.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.
Week ending January
Batopilas Mining
Range for Week.
Sales
7.
.
Canadian Pacific rights.
Cent & Sou AmerTeleg.
Chic & Northwest rights
Week.
Lowest.
100
S3 * Jan
9* Jan
4,000
129 115
7,673 15*
620
3*
Chicago Terminal Transf
•100 116
Colo Fuel & Iron, pref..
Comstock Tunnel 1st 4s S2.000 20
200 103
General Chemical, pref..
Jan
Jan
Jan
Jan
Jan
Jan
100
280
360
100
116* Jan
NYC&IIR rights
22,393
N Y N H & H subscrip
5* Jan
H B Claflin Co
1st preferred
Homestake Mining
Keokuk & Des Moines..
receipts first paid
New York Dock
Range for Year 1909.
for
96
Jan
80* Jan
9
Jan
Jan
2,250 147
10 40* Jan
5
3
5
5
4
6
6
4
7
5
7
4
5
$3* Jan
10* Jan
120
Jan
16* Jan
4
116
20
103
Jan
Jan
Jan
Jan
116* Jan
96* Jan
83
9
Jan
Jan
6* Jan
6 148* Jan
3 40* Jan
Highest.
Lowest.
Highest.
5
$2* Jan *5 * June
4 9.43* Dec 10*
Dec
6 105
Jan 115
June
5
15* Dec 16* Dec
7
2
May
4* Jan
Mch 115
6 67
Nov
6
15
4
7 110
7 92*
3 73*
4
5
3 5.68*
98*
Mch
Jan
Dec
Dec
Nov
Mch
Dec
94*
11*
6*
Nov
Dec
5
3
Dec 149*
Feb 47
July
147*
30
24
108
118
93
May
Aug
Dec
Dec
Apr
Dec
Foreign Exchange.—The reduction in the Bank of Eng¬ Pennsylvania subscrip’n
Dec
462 132* Jan
5 133* Jan
7 134
Dec 134
land’s rate from 4%% to 4% had little effect upon foreign
receipts first paid-...
100 27
Jan
6
Feb 28
6 27
Jan
Dec
Peoria
Eastern
exchange here, as private discounts abroad had foreshadowed Rensselaer & Saratoga.. 10C 200 Jan 5 200 Jan 5 23*
the change in the official charge.
Trading here is charac¬ South Porto Rico Sugar. 300 81* Jan 6 83 Jan 3 79* Dec 83 Dec
150 145
3 145
Jan
3 125
Nov
Jan
Twin City Rap Tr, pref.
May 145
terized by speculation on a scale not often witnessed.
6
3
U S Rubber rights
3,940
* Jan
* Jan
* Dec
* Dec
Dec 55
Dec
To-day’s (Friday’s) nominal rates for sterling exchange West Md warrants 4th pd 200 51* Jan 3 52* Jan 3 48
were 4 84% for sixty days and 4 87% for sight.
To-day’s
(Friday’s) actual rates for sterling exchange were 4 8390@
Outside Market.—Activity in the market for outside se¬
4 84 for sixty days, 4 8675@4 8680 for demand and 4 8710
curities this week was confined to a few issues, with prices
@4 8720 for cables. Commercial on banks 4 8360@4 8370 generally
inclined to weaken. Boston Consolidated from
and documents for payment 4 82 % @4 83%.
Cotton for 22% dropped
to 21%, the close to-day being at 21%. Brit¬
payment 4 82% @4 83, grain for payment 4 83% @4 83%.
ish Columbia sold up from 8% to 8%, fell to 8% and closed
To-day’s (Friday’s) actual rates for Paris bankers’ francs at 8%. Butte Coalition opened the week at 27%, advanced
were 5 19%@5 18% less 1-16 for long and 5 16% less 1-16
to 29 and reacted to 27%, with transactions reported to-day
@5 16% less 1-32 for short. Germany bankers’ marks were at 28. Giroux was prominent in point of activity, and rose
94%@94% for long and 95 3-16@95% less 1-32 for short. over a point to 12%, but weakened to 11%, the close to-day
Amsterdam bankers’ guilders were 40 19@40 21 for short.
being at 11%. Greene Cananea went up from 11% to 12
Exchange at Paris on London, 25f. 18%c.; week’s range, and down to 11%, ending the week at 11%. Miami was
25f. 18%c. high and 25f. 16%c. low.
also an active feature, and moved up from 28 to 28% and
Exchange at Berlin on London, 20m. 44%pf.; week’s ran down to 26%, with the final figure
to-day 27%. Nevada
range, 20m. 44%pf. high and 20m. 43%pf. low.
Consolidated receded frojn 27 to 26% and finished to-day at
The range for foreign exchange for the week follows:
26%. Ohio Copper advanced from 5% to 6 and sank to
Cables.
Cheques.
Sterling, Actual—
Silty days.
4 8765
4 87*
5%* United Copper common was traded in up from 8%
High for the week
4 84 *
Low for the week..
4 83*
Paris Bankers’ Francs—
4 8705
4 8660
to 9.
Kerr Lake was a center of interest and
from 9 1-16 to 11, though it reacted to 10,
was
rushed up
with the final
High for the week
5 18* less 1-16
Low for the week
5 19*
quotation
to-day 10%. Among industrials, United Cigar
Germany Bankers' Marks—
Manufacturers was conspicuous for a rise of 3 points to 93,
95 * Plus 1-32
95* plus 1-32
94 11-16
High for the week
95 5-16
95 3-16
Low for the week
94 *
but weakened subsequently to 91%.
American Tobacco
Amsterdam Bankers’ Guilders—
advanced 3 points to 428 and dropped to 422.
Standard
32
40
40*
40 08
High for the week
40 28
40 22
Low for the week
40 04
Oil declined from 670 to 660. Chicago Subway was traded in
The following are the rates for domestic exchange at the between 4% and 4%.
In the bond department, Chicago
undermentioned cities at the close of the week: Chicago, Great Western 4s, “w. i.,” sold down from 91% to 91;
10c. per $1,000 premium.
Boston, par. San Francisco, Missouri Pacific 5s, “less interest,” sold between 95% and
sight, 2%c. per $1,000 premium; telegraphic, 5c. per $1,000 95%, and N. Y. Telephone 4%s at 98% and 98%.
Outside quotations will be found on page 99.
premium. New Orleans, commercial, 25c. per $1,000 dis
6 16 * less
5 16* less
1-16
1-16
5 15* less
5 16*
3-32
New York 8tock Exchange—Stock Record, Daily, Weekly and Yearly
OCCUPYTN(J TWO PAGES
STOCKS—HIGHEST AND LOWEST 8ALB PRICKS.
Hottday
Jah. 1
Tuesday
Jam. 2
12219
Thursday
Jan. 4
Sales
the
Jan.
IBffiP
NEW
Rang* 1m Year 1909
YOItir STOCK
EXCHANGE
Week
Pride
Jan. 6.
of
Shares.
Lowest
124%
1025* 103^
_
92^
~~
*2312
36
63
*68
72
*68
69
30
30
*68
71
23%
330
35V 36
623$ 63V
1561$ 157V
36V
62V
155V
171V
178V
4225
4153
500
35V
62V
154V 155*4
171V 172
179
179V
34V
36*4
63V
154% 155%
171
171V
1783$ 179
8,800
35V
62
63V
62
6,000
Highest.
Lowest
Do prof
Chic G Wes ctfs dep 3d pd
Do prel “B" ctfs 3d pd.
Chic Gt West trust etTS__
Do pref trust ctfci
Chicago MUw & St Paul—
97?$ Jan 13 125% Oct
106*4 J’ne 29
100%, Jan 20
l07W.Jan 14
lij»u Feb 23
91
Nov23
67
Jan
rl&5
Mob
60V Jan 11
172V
1811$ 182*2
171V 172
180
157
171V
26,600
1,330
189% Oct
323V
91V
74*4
78*2
24%
55% Jan
57% Feb 24
Nor 1
Aug 20
&18V Aug?3
70
68
317$
31U Dec 23
37%
64*4
1651$
58V Dec 23
Sep 18
Dec 31
Apr
Mch 27
Dec
Dec
Dec
Dec
Sep
141
^
*
x
—
..
„
^
>s *146“
Si
*535
Havana Electric
--
_
18
"
V
r
-
-----
iS
-
lJ*%
__
*S!i
‘
.......
_
104
140
Feb
54
Mch
68
160
Feb
229
25*2 Feb
10
Feb
47
Mch
30
3V Feb
30
5
Deo
111% Deo
1117$ Deo
94
Dec
60*4 Dee
180% Nor
80
Jan
37 V Feb
70V Nov 15
Feb 23
215
101V Dae
83% Feb
59V Mch
76V Feb
827$ J’ne ~
‘
Ts
Highest.
Feb
66
143*2 Aug 12
122V J’ly 29
96
Apr 12
Nov
Dec
69%pec
68% Dec
79
Dec
14% Nor
17% Nor
Feb
29
30
Feb 23
18
181
158V
Mchl5
Aug
16
181
181
6,020 Chicago A North Western 173% Feb 24
*220 235
Aug
18
198V
225
225
225
2
225
*210
225
120
Do pref
208 Men
Mch 15 1230 Aug 7
*100
160 [*150
160
153
*150
1S5 *153
160
40 Chic St P Minn & Omaha 148
Apr 22 167 Aug 13
*160
175 *160
175
4170 170 *160 175 *100
175
60
Do pref.-.—
169V Jan 30 fl8Q J’ly 27
4*8
51$
5
5*g
5
5
5V
5V
Chic
Ifn
5V
Trac ctfs stmpd
*4%
3.600
31# Dec 16
7
Jan 4
10*4 10*4
11
12
12V *11
*101, 12
Do pref ctfs stmpd
10*4 10*4
1,400
7*4 Dec
18V Jan 27
80*4 81
801, 80V
81
80*4
81V 82V
81V
2,800 Cleve Cln Chic & St L
Jan 29
68
83 V Dec 27
*104*4 10812 *1041$ 10812 *104 108V ♦104 108V *104 108V
Do' pref
100
Jan
105 Mch 22
56V 581$
57
577$
571$ 58V
57V 60V 59*4 61% lb",765 Colorado & Southern—
51
Oct
23
68V Jan
8U4 81*4
82
81V 81V *81
82
82
81V 8U2
Do 1st preferred
1,020
76U Jan
86
*80
May
81
*801$ 81
81
81
80V 80V
*80
82
400
I)o 2d preferred
841#
Jan
7314
Jan
1841$ 186
1837$ 184*4 182 183
182
183
T\elaware
181V
&
181*4
1,680
Hudson
*560
167V Feb 24 200 “ May 14
625
♦800
600
626
600
♦590
630
*590
630
100 J-^elaware Lack A West- 535
Feb “ 680 Apr 22
50V 52
50
50V 51
50
51V
50
51V
50%
8,425 Denver A Rio Grande
54
37% Jan
Apr 20
831$ 84
83V 84
83
837$
83V 83*4 83% 83% 2,710
Do
pref
90 Feb 10
79*2
Jan
6
*63
63
*63
*63
67
67
67
♦63
*63
67
25 Detroit United
56
Jan
30
71*4 Aug 13
18V 18V
181$ 18V
174 18V
17V 17V ♦17V 18%
2,065 Duluth So Shore A Atlau
14V NO? 8
21 Jan 16
84V 3412 33V 34% 33*4 34V ♦33
34V
33% 33%
1,360
Do pref—
28 * Feb-23
36V
Jan 15
•33%
33V 335$
33V 34V
34V
34
33V
33V
26,700
|?rf*
J’ne 7
39
51
22% Mch H
51
506$ 51
51
52V
51*4
51%
51%
14,600
-M
Do
1st
pref
36VMC*11
56% Auy
40*2 40*4
40V 40/$
41V 41%
40V 41 * *40
41V
1,300
Do 2d pref.
46
28V Mch 11
Aug
142V 14312 MD* 143V 141V 142V 141% 142
14,550 Great Northern pref
136%
Feb
24
1577$ Aug 12
79
79V 30%
79
79V
79%
78% 79V 7,500
Ore
Iren
properties.—
65%
Mch
12
88V
Aug 12
18
18
17V 17%
39 Green Bay A W, deb ctfB
17V 17*2
13i#Nov26
21
Dec 13
*— 105 *-— 1
CIZI
105"
*„..
10QV
39 “ Feb
*94
103 Dec 27
99
*98
88
g9*4
*98
Do pref—
200]
99*4
100
Deo 21
83% Feb
123
Jilin* 128V 4110V 123
1187$ 1187$
120
100 Hock Val J P M A Co rets
97
May 3 126 Aug 14
*.—
92
92
*92 K—
82
Hocking Valley pref
88
Apr
27
146
J’ne
11
941#
146
146
147
146V 146V 145*4 "l",906 Illinois Central137
Feb 23 1621$ Aug 12
H
241$ 23B$ 24V 231$ 24V' 23V 24% 24
38,760 -Interboro-Metropolitan
24%
11% Mch 23
257$ Dec 8.
61V
5912 61V
61V
68V 60V
Do pref59*4 60*4 27.700
30
36*4 Mch23
63% Dec 8
29
29
29V
*28V 29V
Iowa Central
29V
1,850
29%
Nov27
26V
36
Apr 15
53V 54V
54
531$ 53V *53
*63
*52
Do pref
53
700
48
Sep
9
♦78
62
Apr 15
80
*78
80
80
*78
*78
80
XT C Ft S A M tr cfs, pref
*78
80
82
Sop
14
74V
Feb
43V 44V
43
43V 44
43
43*4
-Ivansas
431$
6,360
City Southern— 37 Feb 23 50V Aug 18
*70
72
71
71
70V 70V *70
71 ** 7u#$
Do pref
1,100
67% Feb 24
75V Aug 18
25
25
25
25V *25
26V *24V
400 T ake Erie A Western
19V Feb 25
29V Aug 2
62V
61V
Do pref
611$
61V
600 -Li
*61V
48
2
Jan
23
70
647$ J’ne 14
69
70
*0g
70
*68
70
200 Long Island
59 Jan 4
71V Dec 24
15812
158
158
159V 157V 168V 157 158*$] 11,200 Louisville A Nashville.. zl21 Jan 29
162V
Aug 12
138
1381,
137
137
1377$
137
137
1,234 A/Tanhattan Elevated
Dec 2 153V Jan 4
137
*20
24
*20
*20
23
*20
DAetro
25
poll
tan
Street—
18 J’ly 2
*53
42
Jan
54
53V 53V *51
53V 53V 53% *61
58
700 Minneapolis A St Louis—
51
Sep 16
65 Jan
*8212
*82
*82
90
88
*82
88
*81
Do pref
88
Mch 10
81
141
90
Jan
180V 111
139V 140
138V 139% 1381$ 138V "V.576 Minn St P A S S Marie
*155% 157 ♦154V 156 ♦154 156V *154
1321$ Jan 2 149V Jan
157
*153
155
Do pref—
147 Apr 13 164 V Au»
92V 92*4 92V 92V
92%
92V 92*4 192V 92*4
Do leased line ctfs.—.
510
89 J’ly 22
94 Dec 23
50V
487$ 50V
5X1$
491, 50%
49
50% 110,700 Mo Kansas A Texas—...
♦72
35V Feb 23
50V Oct 18
741, 74
74
74
74
74V
Do pref..
74V *73*4 74*4
1,100
Feb 23
71
78V Out 18
7l 71V 70V 70*4 71
72
71
70V
72%
Missouri Pacific
72
11,625
65
Feb
24
*138
142 ♦138
77V Aug 5
142
♦138
142 *138
142 *139
VTash Chatt A St Louis.
142
63
64
Jan 5 142 Dec 17
611$ 62V
61% 62V *62
63
62
62
“i~700 As at Rys of Mex 1st pref 122V
Dec 31
44V
Apr
64
5
2512 261$ 25V 257$ 25V 26
25
Do 2d pref
25%
251$ 25V
9,600
21
Deo 1
124
26% May 22
125V 122V 124V 122V 124V 123V 124
N
Y
A
Central
Hudson..
123%
124%
67.700
64
1201# Feb 24 147*4 Aug 18
64
64
66
*62
6512 *64
66
*62
65
400 N Y Chic A St Louis
*105
48V Mch 15
69
Nov 19
110 *105
110
*105
110 *105
110 *105
Do
110
1st
pref
100
*93
Feb 20 100 Feb 20
95
*90
*90
95
95
*90
95
*90
Do 2d pref
95
76%
Apr
6
Nov 19
95
1158V 158V 158 158 ♦1571* 158
156V 157*4 156V 157
1,860 N Y N H A Hartford
tl54 NOV 13 174*4 J’ne 14
48*4 49V
48V 405$
49
487$ go
N
49V
Y
Ontario
A
Western.
42% Feb 24
55% J’ne 12
98l2 99V 98 1Q1V 9834 100*4 98*4 99V 487$ 49V 8,100 Norfolk A Western
98V 99V 19,475
*88
90
*88
84% Jan 6 102 Dec 10
90
♦88
90
90
90
Do adjustment pref
89l2
90
400
85% Mch 26
92V J*iy 28
144V 1455g 143V 144V 142V 1437$ 142% 143V
142V 143VJ 22,625 Northern Pacific..
133% Feb 24 159V Aug 12
117% 118V *117
117
118
117V 117V 4118 ns
115V
813
116V
Coast
Co
"pacific
....
76
8
Mch
[*101 103 ^ *101 103 *101 103 *101 103
116V Dec 31
A
Do 1st pref—..... 100 Mch 30
i*101 103
118
118
(106 Sep 28
115
115 *115
118
*115
118 ♦116
Do 2d pref
118
500
88
Mch 27 115 Dec 31
136
137V 1351$ 136% 135 136V 135V 136%
1351$ 136V 153,133 Pcennsylvania
99
126»$ Feh*3 151V SfcP 29
99
100
99
997$
100V
99*4 100
99
99% 17.605 Pi ttsb On Chic A St L—
*110
120
86V Jan 6
♦110
120
997$ Dec 22
*110
120
*110
120 *110
Do pref
120
....
104 Feb 10 116V Sep 21
168*4 171V 168 170V 167 170V 167% 168% 166 168
553",100
Feb
23
118
02
92
93
173% Sep 21
93
93
93
•
*93
.....
92
93V
1st pref---.
93
1,130
...
89
Mch22? 96 Aug 23
110
11012 109 109
109
109 *105
108 *105
2d pref
108
800
......
90 Feb 1 117*2 Dec 23
54V 57V
541$ 55?$
47V 54V
46V 48%
46% 48V 323,977 Rock Island Company...
89
Deo 27
81
207$ Feb 24
91V
89V 90
86V 89
8584 87V
87
Do pref-.
87V 21,200
—
67% Feb 24
94% Dec 22
71V 7H2
73
*70
72
72
73
*71
73
777
68
59
7
4
Dec 8
66I4 Mch 29
59 V
57V 60
581$ 58V
Do 2d pref
58V 58%
4,900
30 Feb 23
3212 341#
60% Sep 16
33
321, 34
34
321# 33V 10,200 St Louis Southwestern...
32V 33%
20V Feb 25
77V 77V
35V Dec 7
76*4 77V
76V 77VI 70
76
77%
76V| 3,100 Do pref.
82
Dec 7
47V Jan 3
*1347$ 137
134% 138*4 13512 138% 136V ‘137V
Southern
Pacific Co— 114% Feb 24 1391$ Aug 16
137*2
517,100
32V 33*4 32V 33V
“
32V
33%
33
3212
V
46,300
Southern
tx
cfs
stmpd.
22
Fob
24
34
Aug 11
73V 75"
73V 74 *
73
73
73V
9,120
Do pref
do
73%
60 Jan 6
75V Dec 15
35% 3684
35
35V 36*4
35%
35% 36%
35V
36%
12,300
TPexas
A
Pacific.
...
30
Feb
24
17% 18%
18
401$ Aug 23
19V
18
19
18
18%
181$ 191# 10,225 Ahird Avenue (N Y)___
12V Deo 8
10V 12*4
421$ Jan 18
UV 12%
11*4 12
12% 13
5,300 Toledo Railways A Light
*53
7 Mayl2
63*4
53V 54V
53*4 54*8 53% 63% 53% 53*4 4,900 Toledo St L A Western.. 43 Feb 20 15V Jan 2
71
70*4 717$
54% Oct 19
72V
71
70*4 71%
71% *71
72
6,100
Do pref—
64*4 Feb 24
74V Jan 4.
114V 117V 116% 117
1167$ 1167, 116 116 ♦115 117
6,605
Twin
Transit
City
Rapid
21
97
Jan
116V Dec 29
201V 204*1 201V 204
200V 2033 200V 202
200*4 202V 402,320 1 Tnion Pacific
103
219
Aug 16
172%
Feb
24
103V 102V 103
102V 103V 102% 102V 103 103%
Do pref
4,510 A?
294
Mch 1 118V Aug 16
42
42V
41V 41V
41
40V
*40%
41V
*40
42
600
Unit
Rys Inv’t of San Fr
30
Feb 25
72
72
47
*71
Sep 13
72
71
71
70V 71
Do prel
72V 72V
900
77
50V Fob 25
Sep 14
25*$ 27%] 25V 26V
24V 20V
24% 25V
245$
25V
54,100
Wabash
15
59
61
Feb.
23
59
27% Deo ' 0
69%
56V 59V
56V 57%
66% 57% 64,000 »"
Do
pref
41
Feb
23
51
61*4 J’ne 15
5214
515$ 52%
51
52V
51V 503i 51*4 6,700 West Md rects 4 th paid. 221 Oct 9 56
10
Deo 16
9V
9V
*9
9V
10
9*4
*9
10
800 Wheeling A Lake Erie—
5
23
J;iy
13
21
23
127$ Jan 4
22
22V 22V
22
21
21V
1st
1,550
Do
pref.....——.
i5v J’iy 13
13V
25?$ Jan 8
111, 12V
12V 12V *11V 12V *11V 12V
1,400
Do 2d pref.
.....
49
15% Jan 8
6V J**y 13
*481, 49%
49% 60
*49
51V
49V 49%
800 Wisconsin Central
357$ Jan 6
037$ Apr 20
Do pref Trust Co ctfs.
86V Mch 3
91~s May20
156*4 158*8
173
Yew (1908).
Raiira«<ls
1217$ 123*4 121 123V 121V 12214 1215$ 122V 119.038 A tch Topeka & Santa Ft
103l2 103*8 103V 104
1031s 103?$ 103V 104
Do pref
4,335 J*1351a 136V 135 136*4
135*4 136V 136 136%
4.900 Atlantic Coast Lino KR_
117*4 HO ,117*^11812
1172$ llSlg 11734 118*$ 22,400
93
93
94
927$
921$ 927$
1,000 j^altlmore A Ohlo
791$ 79*4
7812 79V
785$ 79
78V 79
12,365 Brooklyn Rapid Traus*tl
181*4 1821$ 181
180V 181V 180V 181 *180 1815$
2.900 I Canadian Pacific.—-—
70
70
*67% 72
*68
73
73
*69
72U
200 Canada Southern
*310
*308 310
315
312
4305 305
312
145 Central of New Jersey--.
l&V 91*4
90
90V 91V
91V 135,240 Chesapeake & Ohio.—
*6®
68.
*66
66*4 66 V *66
67
300
67V
Chicago & Alton HR
.
Range far Previous
On basts of 100share lots
103V Jan
138
Jan
135V Jan
15212 Dep
164*4 Dec
185V Deo
Jan
Feb
224
160
140V Jan
% Apr
4
Apr
174
185
114
576
14% Feb
39V Mch
32% Apt
56
181% Deo
Nor
40V Doc
83% Dec
Feb
Mch
Jan
Mch
8
20
Feb
Mch
62
69
Nor
36
61% Dec
41
Deo
148V Dee
75% Not
171$ Dee
Deo
Deo
40
84
Jan
|70
Nor
18% Nov
33*4 Nor
11*4 Feb
12
Deo
Dee
Deo
59
79
76
39*4 Feb
24% Mch
16
Mch
113*4 F»eb
48V Jan
Dec
70V Dec
907$ Deo
1411# Feb
Jan
0
Deo
7% Dec
18
47*2 J’ne
85% Feb
21
Feb
50% Jan
42u
Dec
Dec
104% Dec
Deo
93
122% Feo <149% Nor
6*4 Jan r 20 Deo
17% Feb
49% Deo
10 Feb
32% Deo
67
Deo
27*$ Feb
57
Aug
75% Dec
18
Fob
42% Dec
46
Feb
72% Dee
Jan
12
34
30
May
Feb
87% Feb
120
15
20
61
Jan
Feb
Mch
Feb
79V Jan
1231# Feb
17V Mch
46 Feb
281# Feb
Deo
Dec
26
58
56% Dec
125*4 Dec
154*4 Dec
441# Dec
56% Dec
90
Dec
135
NOV
15U# Dec
43% Dec
75% Dec
67% Deo
07*4 Jan
122
90% Jan
126 Deo
571# Deo
105
Nor
85
Dec
161
Nor
Nor
-
...
—
....
Reading——
*581$
St L A San Fr, 1st pref..
—-
-
—
....—
35 8*
banks and trust
Banks
New York
Bid
Ask
Ask
445
160
420
U5
300
375
4G0
165
—
170
695
tmericaf—
AmerEXck-l 250
Audubon
Battery Pk_
180
—
125
375
180
610
255
136
130
SrjXht^kV
Chemical
Citizens’ Ctl
City
Coal & Iron
Colonial if—
Columbia 11Commerce
t204
Bronx Bo roU 300*
800
420
.....
-
-
I
350
150
175
435
~
—
Com Ex tf—
East River.
Fidelity
If—
•
1
300
325
125
165
155
•
.
425
315
332
135
175
l&da^^Stoe^^zehanfi'e or at auction this week
?Sale at Stock Exchange
orat
Bid
Fifth A veil
Fifth
First
14th
Stf-..
Rights...
Gallatin
Garfleld
...
‘
Germania if.
Greenwich If
Hanover
h First
Ask
4300
300
900
155
4500
350
925
t2Q2
t20«
tll4
..,
Germ^Am
128V Jan
29% Feb
68 Feb
74 Mch
1167$ Jan
65
Sep
90
May
79
Mch
108*4 Jan
59
Jan
81% Mch
92% Feb.
Jan
78
76
Jan
10% Feb
20*4 Feb
42
J’ne
19% Feb
10
Mch
24% Feb
66% Feb
9% Jan
251# Mch
12*4 Feb
15V Mch
6 V Oct
12
33
Feb
Feb
78% Feb
110V Mch
79V Apr
Jan
271# Jan
15
477* Dec
80V Nov
Deq
157*4 Nor
93% Jan
90 May
88
97
Jan„
132V
88%
108*4
143V
Dec
Deo
Nor
Deo
92
99
Deo
Dec
25V Doe
62% Deo
69
Deo
42V Deo
24
Deo
5578 Deo
122% Deo
27V Deo
63% Dee
37V Deo
47
Aug
15% Deo
50 > Deo
73% Deo
96% Deo
1847$ NOV
98
Nor
4o
Deo
59*# Deo
13
6% Mch
Mch
20% Deo
52*4 Deo
4V Mch
12% Apr
26% Deo
6
Feb
13V Feb
13
Deo
15% Nov
38*4 Deo
COMPANIES—BR JKERS' quotations.
Banks
427% Fourth
_
157% 102% Copper
sg&fgas
Chase
Banks
But
Chatham
340
Chelsea ExU 200
24i# Jan
90 ~ Jan
60
Feb
330
295
140
450
550
260
625
Banks
Imp & Trad
Irving N Ex
Bid
Ask
565
205
JeffersonH-Liberty-
,
_
„„
^
Mutual
190
Nassau If
^
430
t2
345
3 0
255
200
275
190
Mechanics’
4P5
575
265
.
Merch Exch
Merchants*
mauropur iT|n
365
180
160
UP
195
13D
5
New Nath’d
345
3o0
Mercantile
Bid
250
290
225
200
750
320
225
210"
575
Lincoln
Banks
Mt Morris If.
NewYorkOo
New York.
N’bt ADaylf
19th WardNorthern
Pacific^
4lV“
—
Park
.
W’ir
rociui
-
100
230
400
280
177%
I//I2
Ask
275
Banks
Plaialf—
Bid
625
Prod Exch U 170
310
Reserve
120
220
Seaboard
850
Second
400
330
Sherman
135
230
State 1f .... 295
430
12th Want.
110
23d Ward- 140
240
Union Exe.
470
VVa&hH’ta
2?
West Side
295
1871# Yorkvflle U- 660
IO<1
_____
#.
All
175"
130
375
•• -
_
^ Less than 100 shares. IfStatebanks. a Ex-dividend and rights, ft New siook.
Installment paid,
n Sold at private sale at this
prioe. $ 2d paid. u 3d paid.
300
155
New York Stock Record—Concluded—Page 2
i$tio
jan. 8
STOCKS—HIGHEST AND LOWEST SALE
PRICES.
Sales
0/
NEW
the
Saturday
Jan. 1.
Monday
Tuesday
Wednesday
Friday
Week
Jan. 3
Jan. 4
Thursday
Jan. 5
Jan. 6
Jan. 7
Sharet.
■" a**
—
...
*246
Mil.
Jar Year. 1909.
of 100-jWe Lois.
<e
YoSfK’stocfi:
93
EXCHANGE
Lowest.
Range tor Previous
Year (1008).
Hiohest.
fjOKVtl
I
|270 270 $27b 270 *250 300 f
83 /( dams Express
190 J#tl 20 $250 NoV 20
14*4 14%
14% 14*4
14% 15
1,300 Ams-Cbafmers
12% Feb 24
I67g AUg 3
54*2 6412
38 Feb 24
54% 54*4
54% 54%
—
68% 54
800
’ BopHtf-.—
57% Nov 17
87
89Bs 90*4 68*4
89*8
D5
Feb
86%
2b
88%
87% 88% 235,530 Amalgamated Copper...
96% No/19
48
48
48
47
47*4 48
5b Aug 12
47
47%
47
1,510 Amer Agricultural Chem.
33% Jatt 5
*101
*100 *
*99
*99
N&0
Do pret.__.
103
AUg 3
95*2
Jan
18
46
46*4 4612 *46
46%
46% 46*2
46%
20% Jen 13
44*4 46
2,700 American Beet Sugar
49*2 Aug 2
*92
*92
*92
*92
82
93*4
Jan
93*4
98 Oct 4
93% *92
Do pref
9334
..........
13% 137g
13*2 18*4
13% 13*2
13*8 13%
18
13%
4,850 American Can
18% Nov 18
;
7% Feb
81
61
81
Fe
81*8
86 J'ne i
81*4. 80% 81% 80% 80% 6,100
Do prfef.......
71% f “
71
71
7278
7138 72
72%
71
71%
71%
5,400 American Car ft Foundry
44*4 Feb 24
76*2 NoV 4
*118*4 180 *118*4 120 *118% 120 *118% 120
107% Feb 23 124% Aug 3
119% 119%
10b
Do pref—
.....
67
67
-67l2 67%
67
07%
67*4 67I4
42% Jan
65% 67 5
2,200 American Cotton Oil
79% Nov 5
*102
104
104
194
*t04
*103
106
107 1105
135
Do ‘pt-ef
98 Jan
107
ior% Nov 3
4310 315 5310 820 1300 310 $300 300
*290
310
26b American Express
Dee 31
$205 Feb
oOO
8
8
8
8
8
8
8*8
10
*7%
77,
6*4
Ffeb
25
7%
1,52b American Hide ft leather
Sep 3
34
Feb 24
47% 4778
46% 47
4«% 47%
Do pref
46% 47
2,926
46% 46%
51% Aug 3
25
25
28% 20%
26
25*8
25*4
25»2
3,400 American lefe Securities. J
26%
i#s Jan
42% Apr 13
17% 17*4
12
Feb 25
20
J’nei4
I684 17%
16% 17
17*8 17*8
2,046 American Linseed
;
17% 17%
46
45
Do pret.
48% 467*
45%
29
Jhfi litf 47% J'ne 14
46% 45%
46%
3,475
46%j 44
60
61
American
Locomotive
49
6112 62l2
6Q
60l2 61%
Feb
23
69%
59*4
7,200
69% AUg 4
*110
117
*113
114
114
Do pref.
115
115
] i09*4 fcTi 24] 122 Aug 4
114*24 114 114
7
*6*»
7
8
American Malt Corp
*7
7
7%
♦6*2
7%
;
5% Jly 161
*6*4
11*2 J’ne
41
41
41
41
Do pref
*4012 41*2
41
700
40*2 41 J 41
38
59
NOV50
Sep 20
C1% 907g
90l4 9OI4' 90% 90*2
80
Jan
&80 Amer Smelters Sec pret B
90% 90%
90*4 90l.fi
92% Aug-27
Amer
1021; 194
101*8 1631s 100% 193
100% 1.02% 100*4 101% 109,450
Smelting ft t-teflnlng
77% Feb 24 105% NOV 20
112
Do pref
112*4 112 112
101
Jau
111*4 111% 111% lil*4 111% 111%
1,926
116% Aug 6
*200 890
*250
*250
*260
American smut..
+250
225 Mch 9 $285 NbV23
*95
100
Do pref
*85% 100
*95% 100
95 Mch
*95% 100
*96*2 100
105 May22
65
65
85*->
0&i4
64% 65%
64*4 65
64% 64% 3,626 Amer Stfeei Found (new).
34% Feb 24
66% Nov 19
mi2 12 j
I2H4 123
191% 122*4 121% 122% 121% 122*2
4,305 American Sugar Rettnin
115% NOV30 136% Sep 24
128
122l2 122% *121 123 *121
Do
236*
118 NoV 15 131
121% 121% *121 123
pref
Apr 8f
1405* 141*4 140*g 141% 140% 140*4 140 140*2 140 140% 11,850 American teiepii ft Teieg 125 Feb
145*8 Sep 29
04*4 9512
9412 9434
94*4 94%
94*4 95 ,
94*4 95
104
Maylo
2,865 American TBbac (new) ,1rf
90*2 Feb
*36
37
3714 37*4
35*4 37
35*4 36%
26 Feb
35% 35*4
2,100 American Woolen
40*2 Aug27
102*4 10318 *102% 103*8 102*4 102*4 102% 103
Do pref.
1,135
93% Jan
107% J’ne 14
52
54
51% 52%
50% 52%
52% 52*4
527g 39,860 tf AnacondaConper Par42^ $37% Feb 26 $54% Dec 31
34
34
33
33
Ivetblehem
33l2 33l2
33
33% 33*4
Steel..
33%
1,100
18*4 Mch
36% Sep 21
O Do pret
*6314 68
*63*4 68
*63*4 08
*63% 67
*63% 67
47 Feb 24
69% Sep 33
161
16412 160 163
162% 162% 160 161% 161
118
Jan 28 164*2 Dec 31
162*4
9,350 Brooklyn Union Gas
19
*18
19
♦17
18*8 181* *18
18*2 *17
100 Brunswick Term ft Ky Sec
18ld
17% Dec 24
19% Dec 24
*33
34
33
33
*33
34
*33
34
*33
34
100 Butterick Co
37
Nov 13
23% Jan
47
47*4 48*4
47*2 48*4
entral Leatner
48*4
47*4 47*4
47% 47% 24,966
25*2 Mc*l
51% Oct
Do
108*4 108*4 108*4 108*4 198*2 108% 108*2 108*2 *108% 10878
pref..
1,400
111
Sep
99*4 Apr
48*4 50
48
4S% 49%
477j 4914
47% *“
29
Feb 23
48*4 13,400 Colorado Fuei ft Iron..
53
Dec 14
91
91
91*4 92
91% 92%
2.800 Col ft Hock Coal ft Iron.
92l4
91I2
91% 92
21% Feb 23
91% Dec 31
32c. 32c
31c. 32c.
32c. 32c.
31c 34c.
35c. 35c. 13,000 Comstock Tunnel.Par 32
21C Apr 24
37c Oct “
158
157*4 160*8 157% 160
157% 160
1597* 158% 159*4 44,250 Consolidated Gas (N Y)_ 114% Feb 4 165% Jan
22*8 23
22*4 22%. 22% 22*4
22% 23*4
22% 22% 12,525 Com Products Refining..
16% Feb 24
26% J’ne
*85
86
85
85*4
85
Do pref.
84% 86%
—
85*4
85%
3,268
73*4 F«b 24
93*2 j’ne
*60
63
*59
63
*60
63
60
$60
*58
63
40 Crex Carnet
45
J&-U
63
Dec 14
36
*36*4 37*4
36
36% 36*2
36*2 36*2
36%
36%
1,100 Distillers1 Securities Corp
32% Feb 23
41% Jan 25
♦
80
79
*70
79
79
*70
Federal Miaiug ft Smelt'*
79
55
Mch
95*2 May II
88
88
*8S~ 8S
Do pref
400
87*4 88
*84*4 89
*84% 88
80
Feb 24
94
Aug 11
159
159
159*2 158*2 159% 159% 160
160% 159% 160%
8,647 General Electric
150*8 Feb 23 172*4 Aug 12
111*
lloi2 11134 111
>105
112
110*4 D2% *110 112
91
Men 12 110*3 Dec 29
3.410 Granby Cons M s ft P.
122
116*2 118*4 117% 123% 122 123
123
120*2 121%
8,900
62
Jan 30 118*4 Dec 31
127*4 127*2 127% 129
Do pref stk tr ctfs ctfs- 109% Jan 16 128
1271 +126
127% 127% *126
127
1.623
Dec 21
7
7%
7
7*
7*8
7
7
7%
7*4
7%
2,400 Int Mer Marine stk tr ctfs
9
Oct 2
5% J’ly
*23?4 24%
23*4 24
Do pref
23% 24% 23% 23*4
23% 23%
2,350
18*4 J’ly
27% Jan 2
16
16
*15
15% 15*2
15*2 15%
400 International Paper
1534 *15
15*2
9*2 Mch 13
19% Jan 24
61
6Ug 61%
Do pref..
59
61% 57*2 58
59
*58% 58%
1,600
47*4 Mch 18
69*4 Aug 3
52*4 62*4
52% 52%
Internal
Steam
51% 52%
51*2 54%
53% 5458 23*550
Pump
33% Feb 25
54% Nov 12
*89
90*4
90
Do pref
89% 89%] *89*4 90
90
650
89*2 89%
82W Jan 30
91
Sep 20
113U 114*4 114 115% 113% 116
113*4 114% 114 114*4 65,715 Laclede Gas (St L) com.. 101 J’ne 25 113% Dec 31
91
91
91
91
91
700 Mackay Companies
91%
90*4 90*4
70
Jan 21
90% 90*2
18
95*2
Nov
78
78
77*4 77*2
Do pref
78
78
*77
600
t7% 77% *77
69*o Jan 9
77% Deo 27
115
115
115
115
>11434 116 *115 116
115
210 \Jational Biscuit
$115
96* <* J an 2 120
Sep 2/
t*123 125
123
123
*121
123% 124 *121 125
125
55oi> Do pref
..1.1.1 118% Jan 11 130 Sep 21
27
2812 281227%
*7% 27*8 *27% 28
1,900 Nat Enamel’g ft Stamp’g
Feb
24
12%
30% Deo 14
*96
100
*96
100
*96 160
Do pref
*96
100
82
Jan 5
99% Sep 2
89
80*2
88*2
88% 89%f
89%
88*4 89
9.890 National Lead....94
Au< 13
71*4 Feb 25
*109% 110*2
110
Do pref
*109% 110%
600
„
+109% 111
....
102% Apr 21 113% Aug 12
94
94
*92
95*2 95*:
94
725
New
York
Air
Brake
80
Feb 23
92% 93%1
97% Nov 9
83
84
82% 83*4
82% 83
4 310 North American Co, new
82% 83
81% 82%
72
Jan 13
67% J’ne 14
42
42% 43
43*4
40*4 43
40% 40*4
40*2 41
4,900 T>aciftc Mali
29*s Feb 24
48*2 Nov27
46
*46*4 46*21 46% 46*4
46
*45
46
*43
46
i 400 X acifle Teiep ft Teieg..
64
Oct 4
45*4 NOV 10
115% 116% 114*4 U5% 114% U5% 113% 114% 114 U4%
9,330 People's G L ft C (Cbic). 101% Jau 13 120 Aug 16
102
102
102
103
10214
1031
*103
102% 102%
99*4 Dec 7 103
103*s 3.800 Philadelphia Co ( lttsb’ii)
Dec 0
27
26
27*s
27%
26*2 27*4
26*4 26*2
26*2 27*5 10,200 Pittsburgh Coal Co_.
10
Apr 21
29% Nov 9
88
85
82
Do pref
83%
81% 84%
83%
82% 85% 14,700
i,.
40
Feb 25
87% Dec 28
51
50
51% 51%
50%
50*4 50*
1.800 Pressed Steel Oar....
30*- Feb 23
56
Aug 3
♦106
108% 106*2 107 107
*106
108
Do pref.w...........
108
300
96
Feb 26 111% Aug 11
189
*186
189*8 189%
190
189*4
189% 191% 191 191% 1.62H Pullman Company
169 Jan 30 200
Aug 6
3*o
*8*2
3%
3*2
400 Wu^cksliver Mining
3% *3% 3% *S% 3%
1% Jan 4
9% J'ly fi
4*4!
Do
4%
4%
546
*4%
pref......
3
Mch 29
4*4
10
Mayl3
49
60*2 51 ^
50%
48% 49
4,810 |>allway Steel Spring..
32% Meh 8
54% Aug 3
Iv
*103% 106*4 *T<>0
Do pref...
*104% 106*4 ♦105*4 roe%
109
Aug 11
97% Feb 24
♦ 4% 46 ■*
44% 45*4
44*2 44%
8,750 Republic Iron ft Steel...
49**» Sep 26
16% Feb 23
104% 104*4 104 104*4
Do pref.
103% 103*4 163*2 103%
1,300
67% Feb 24 110*4 J"*y 28
86*2 86*2
86% 86*2
80
*85% 86*2 *85
500 C loss-Sheffield Steel ft Ir
68
Feb 23
94% Oct 4
+118
*118
119
Do pref.
*118
119
107% Ftb 2 j J20 Sep 1
39
39*4 40
39
39%
*39
40
625 833*2 Oct 13 $41 Jan 4
1,600
*87
*87
80
*88
Texas Pacific Land Trust
80% Feb 23
93% J ly lu
lit* if
12
12
*1214
T.266 T TfiJdn Bag ft Paper....
15% J’mjtfc
9% Feb 24
♦74
76
*73
*73
78
Do prCf__.
66
Jau 8
81*4 J’nei>&
121
122
5121 T21
630"United
*119% I2IW *1196.
Dry Goods Cos.. 115 Oet 28 125*2 Dec 2.
113*8 113*4 m 113%
1I2U 113
1«% *13
2,216
rlO!> Sep 1. 114 Deu 30
32
32
*31
*31
32
I Pipe ft Foundr
81
450 U
31%
34% Feb 24
35% J’ne v,
*33%
o .PEel-—
83% *3%f 83% 83*2
5441
70
Mch i
S71- Aug IS
112 2
114
115
120 11«
665 U ted States Express..
82
Feb l*i $111
Dec 3!
83
83
83*4 83
83%
*8% 83%
l,10CfU S Realty ft Improvem't
64 Feb 2.
87Sep 17
*9
ft
*9
14
♦10
12
*9
12
US Redtictftm ft Refining
10
Mch I
17% J’ne 17
32
*26
*26
82
<9*2 2912 **7% S3
106
Do pret....
Feb 24
39% Aug 11
52
51
60
81%
52*2
60%
80%
30%l
8,350
United
States
Rubber..
51%
27 Feb 24
57% Aug 19
H5»* 116% *11512 m%
U0Jg 11578 140% 115% *16 ^ 1,940 Do 1st pref
98 Jan 29 123*2 Aug 24
84
84 *♦83
84
88
400
Do 2d pref
82*2 82%
82% 82*;
89*» Aug 23
67% Feb 25
88*4 91
87% 89*2
87% 89%
87% 88%
86% 88*t tt15210. United States Steel
41% Feb 23
947gOct
124% 125% 123*2 124% 123% 129% 123% 124% 124% 124**> 11,366
Do pref...
107 Feb 23 131
Oct
59% 60
69% 60
88*2 597*
58*8 60% -09
69% 22.100 dUtah Copper_._Por 610 $39% Feb 26 $67%
54
54%
53% 54%
83% 54*4
53*2 54
68*4 .04% 12.100 Vtrginia-C%;roUna Cheta..
56% Dee
128
128*2 128*2 129% 1*8% 128*r 128% 128% 128% 12812
1,600
Do prfef...
114
128 Dec 27t1
*74
74 1 71*2 72% *71
74
*72
320
*72% 75
7*
Fib
23
67
VirginiaJron Coal & Coke
75% Sep 17
*23
*23
27
*22
27
27
125 Vulcan Detinnlng....
$22
23
6
F6b J.
37% Nov 3
*80
88
*80
68
*80
88
80
80
210
Do ptef..“nr.
45
Jan 30
91% NPV 3
|«190 190 *195 195 fowo 196 *170 200 *170 199
95 \\lells Fargo ft Co..-.. 300
Jan 5 $670 Dec i?l
76
76% 77
*75
*76*2 76%
76%
1,801)
esrtem U nioh Teieg,
75% 76
77%
64 Feb 24
85*4 NOV 16
82
82
,81% 82*2
81% 82
81%
3,220 Westlngh'seBl&Mfg assen
*81% 82
74
90 Aug 7
Feb 24
*132
133
100
Do 1st pref.......... 111
*12814 133
128% 128*4 *120 128
Mch 3 145
Sep it
$250
250
10
15
*14*
♦54
275
10
_
55
....
....
,
...
.
.
_
1
,
...
....
_
...
23 >»
.
...
1
t
Int Harvester stk tr
‘
“
.
...
Jfr £i
:
%S?‘
"ft"'ll
W>
-
....
&
*
If* JS
-«€
...
‘
w
S5
,i!f* ,ff*
'l\u
■
.
...
5at II
S?4
.
....
164
Highest.
Jah $400 Aug
Mch
16% Dec
5
14 Mch
43*8 Feb
Jan
13
78*2 J*n
9% Feb
60 Jan
4
Feb
44
Jan
20% Feb
84*4 Meh
24*4 Feb
$69 Jan
52% Dec
88% NOV
35
96
247*
81%
10%
7678
NoV
NOV
Apt
Dec
NOV
NoV
50*4 Dec
109
Dec
44*4 Nov
97
NoV
Feb $224
170
2*4 F6b
12*2 Mch
12*2 Feb
Mch
6
17 Mch
31*8 Feb
85% Jan
3
Mch
Jan
Jam
21
70
55t2 Feb
87% Feb
180 Aug
80
Mch
28
Sep
9834 Jan
Mav
8*2 Dec
37% Dec
3l78 Aug
17*2 Dec
36% Dec
59% Aug
113
Dec
8% Sep
51*8 Sep
84% Aug
107
Aug
110% Aug
200 Apr
97*2 Sep
41
Nov
137*4 Aug
105
101
Feb
Jan
72%
15*2
78%
$27%
Jan
Feb
Feb
Feb
12
35
a85
Jan
$53% Nov
27% Nov
Apr
Feb
152*4 Nov
$10
15*2
75*4
16%
14%
Feb
Feb
Jan
Feb
Mch
20e Mch
96
Jan
10% Feb
Jan
56
47*2 Oct
27% Feb
72% Nov
59
111
Feb
Jan
78% Jan
52
99
6
J’ne
J’ne
Oct
Feb
16
8
47
13
65
Oct
Jan
Jan
52
Feb
Apr
5978 Feb
68
102
Jan
Jan
7*2 Feb
$70 Foo
36
Feb
87*2 Jan
50
Jan
42*8 Mch
131
Nov
132% Nov
97*2 J’ly
32% Dec
97
57
Nov
Nov
$25
Jan
33
102
42
Dec
Dec
Dec
27*2 Dec
44c
167
Apr
Dec
20*2 Aug
80
Aug
48% Oct
38*4 Dec
94
89
Aug
Nov
162*4 Dec
109% J'ly
67% Nov
IH84 Nov
9
May
26% Dec
13% Nov
65
Jan
39% Dec
84% Dec
78
Nov
71% Nov
97
Dec
120% Dec
15% Deo
x82% Deo
92
Aug
106*4 NOV
98
Nov
78 Nov
24
Apr
40% Deo
80
Jan
106% Dec
8% Mch
36% Feb
17% Feb
69
147
Jan
Jan
% Apr
1% Jan
23% Feb
75
Jan
14% Feb
63
36
J ’ne
Jan
$7*9 Jan
$25*2 Feb
45
4
Feb
Feb
4478 Jan
i7% FeV
56% Jan
70
Fen
36% Feb
Feb
16 Feb
17% Feb
76 Feb
42 Fdb
4
25% Jan
87% Jan
$20 Jan
Feb
Jan
Jan
Mch
18
±87
43
3
X'
25
id
1
Apr
Feb
Feb
38
Mch
58
Mch
‘14% Dec
50
45
Doe
Dec
102% Dec
174
Nov
1% Dec
3% Dec
49% Deo
103
29
Dec
Nov
891- NOV
81%
110%
$02%
84%
9%
66%
Nov
Dec
Nov
Dee
Nov
Nov
30% Dec
78<g Aug
99
64
Jau
Nov
10% Aug
Aug
37% Am
108 pec
751* Nov
68*4 Nov
114% Nov
$52% Nov
45*4 Dec
115
68
Nov
Nov
10% Nov
80*2 Dec
325
Nov
71% Nov
94
125
Nov
Nov
BANKS AND TRUST COMPANIES— BANKERS, QUOTATIONS.
Bank*
Brooklyn
*0rough 1L
Bid
....
ir*!»
iS&aa::: ?!8
JSmeBkC
110
HomefctOadtf 100
M&nufac’re*
415
100
425
145
13*0
125
North Side
:
^
People's
Prosp’ctPk*
Terminal %.
Union f_._.
...
Bid
Carnegie....
lap
150
160
130
100
Central Tr. 1016
Columbia
325
Commercial 135
Com’wealth
150
96
380
B’way Tr..
148
390
620
l,mB
Ask
N YOUy
190
ffi'
Exchange
Trust Co’s
150
N Y City
Astor
Bankers’ Tr
“®,CB
Ask
'
160
Trust Co’s
“w
ISale at Stock
Bid
125
58»3 US
240
m
Net City..
295
305
Nassau
Batiks
Brooklyn
Ask
155
«ay.
160
..
810
Farm LoftT 1860
Fidelity ..j 200
Fifth Av TT 425
Fulton
290
1875
210
....
»
-1-VW
ir
it"
m m
•*"
Bid
Guardian Tr
Hudson
...
850
100
175
Lincoln Tr.
Manhattan
Mercantile
Metro poJ^t’D
Marion Tr.
Mutual
Mnt All*nee
340
240
155
375
725
540
625
130
190
835
145
800
Empire
Equit'ble Tr 500
|Less than 100 shares,
or at auction this week.
.4__
Trust Co’s
Gtmr'ty Tr.
tEjt-righta
.
...
v
As*
_
^
360
245
165
^
m
m
140
Trust Co’s! Bid
Ask
NY Life&Tr U9C 1110
N Y Trust.
870
Standard Tr 400
lltleGuft Tr 572*j
Tr Co of Am 350
Union Trust 1375
US Mtgft Tr 450
Unit States. 1250
Van Nordeu 235
Washington 365
6 New
stook e Sx-dtv
_ ,
Trust company certificates
UBahks marked with
_.
!
4;=0
265
250
375
130
133
Brooklyn Tr
140
a
410
138
420
145
200
225
Frhnklln...
Hamilton
Home
215
260
115
270
500
Kints Co
L Isl L & Tr 310
150
Nassau
300
People’s
170
230
..
....
Queens
Co.
WimatiWb’g
and rights,
Ask
..
...
Flatbush
360
Bid
Brooklyn
Citizens’
,
Westchestei
Windsor
Trust Go’s
115
80
12*5*
100
d Now quoted dollars per share.
paragraph (f) are state banks.
New York Stock
Exchange—Bond Record. Friday. Weekly and Yearly
Jan. 11909, the Exchange method of quoting bonds teas changed, and prices
BONDS
1ST. T. STOCK. EXCHANGE
Week Bxmxa Jan 7
Price
Week's
Range or
Last bale
Friday
Jan ?
tl, A. «*o▼eminent
U B 28 consol registered.dl930
U S 2s consol coupon....41930
U S 3s registered
Zcl9lS
US 3s coupon...
&1918
U 8 3s con small bonds../clUlH
U 8 4s registered
1925
U S 4s coupon
1925
U 8 Pan Can 10-30 yr 2s.fcl93u
Foreign Oowrnmwi)
Argentine—-Internal 5s of 1909
Bid
101
Ask Low
10i*4 lo 1
101
J
*3
100 4
101*4 1024 1014
101*4 102 4 101 *4
100*,
114411641154
116
116
1U6
X 06
Sale
....
103
1 1144 1194
20 116
121
....
101
29
96
1014
95
Registered
99
Sal*
964 70 904 95*4
944
99
95
95
934
894 944
Sale
834
884 145 804 884
103
11
103
4
1024
101*4 1044
Sale
964 14 1192
964
95*4
2
i
984 874
974
9741014
944 Sale
»
94**
944
924 95
XT hese are pr ices on the b asis Of $5 to &.
State and City Securities
Dist of Columbia 3*tf6s....l924 F-A
Louisiana new consol 4s.. 1914 J-J
New York City—
96
M-N
block ....1958 M-N
4% Corporate Stock
4% Corporate
1959
New 4 4s
New 4 4s
1957 M-N
1917 M-N
M-N
4 4% assessmt bonds.... 1917 M-N
4% Corporate stock.... 1957 M-N
N Y State—Highway 4s.. 1958 M-8
So Carolina 4 *38 20-40
1933 J-J
Tenn new settlement 3s.. 1913 J-J
44% Corporate Stook ..1057
Virginia fund dent 2-3s...l99i
110 Nov’08
105 4 Deo *04
1004 Sale
10054
1004 Sale
1097fc sale
103
1004
110
Sale
103
100 4 Sale
109 U
no
103 *1, Deo’09
ll'O 4
1014
101
113H J’ne’09
102 4 Jan ’09
914 94
J-J
64
66
96 4
Noy’09
93
65
Aug’09
99*4 1014
Potts Creek Br 1st 4S..1946
R * A Div lstoon
g 4s.. 1989
2d consol g 4s
.1989
Warm Spr Val 1st g6s.,1941
103
100
1084 1124
102*. 1044
106 1084 112 4
Greenbrier Ry lstgn g 4s ’40
...J 103
l047s Chic * Alt RR ref g 3s...1949
40 100
103«,
Railway 1st lien 34a... 1950
112*4 1134
Registered....
1960
102 4 1024 Chlo Burl*
Q—Deny D4s 1922
95 4 96*4
Illinois Div 34s
1949
...
•
•••
....
914
37 4
•••
.
22
66
93
61
Ann Arbor 1st g 4s
/il996
Atoll T A 8 Fe—Gen g 4s. 1995
Registered
1995
Adjustment g 4s
A1995
Registered
/tl995
Stamped
Conv 48
Cony g
issue
...Alvi95
of
1909...1955
4s
1955
conv g 5s
Iwl7
Debeutures 4s SeriesH.1910
Series K
1913
East Okla Div 1st g 4s..1928
Short Line 1st 4s g
1958
8 Fe Pres A Ph 1st g 5s. 1942
AtlKnox&N See LAN
Atlantic Coast 1st g 4S.A1952
Ala Mid 1st gu gold 5s.. 1928
Bruns<& W fstgng4s ..1938
Charles A Say 1st g 7s..1930
L A N coll g 4s.........01952
Sav F A W 1st gold 8s..1934
1st gold 6s.
1934
10-year
78
Vi-J
774
79
13
774 874
994 1014
984 1014
100*4 184
99 4 Deo’09
944
044 16
100
....
94 4 bale
944 944
1214122
92
92
944
044
....
•
974
95
107
94
M-S
M-N
J-J
J-J
M-N
A-O
A-0
Sil Sp Oca <& G gu K 4b
1918 J-J
Atlantio «fe Daily bee South Ry
Austin A N W bee Sou Paoilic
L)ait «fe Ohio prior i g 3 Has. 1925 J-J
D Registered
/il926 <i-J
Gold 4s
A1948 A-0
Registered
/tl948 <4-J
Pitts J uno 1st gold 8s... 1922 J-J
P Jun <& M Dir 1st g 34*1925 M-N
PLE&WVaSyu ref 4sl941 M-N
Southw Div 1st g 3Has...1925 J-J
Registered
A1926
Cen Ohio R 1st 0g44s..l930
Cl Lor A W con 1st g 6s 1933 A-O
Biouou Rty 1st gu g 5s.. 1919 F-A
Ohio River RR 1st g 5s. 1938 J-D
General gold 5s
1937 A-0
Pitts Olev cte Toi 1st g 8s 1922 A-O
Pitts A West 1st g 4s... 1917 J-J
Stat Isi Ry 1st gug44s 1943 J-D
Beech Oreek bee N Y c A H
Believ A Car bee Illinois Cent
Bkiyn A Montank bee Loug 1
Bruns A West bee Atl Coast L
Buffalo N Y A Erie bee Frie
Buffalo R A P gen g 6s...1937 M-S
Consol 44s
1967 M-N
Ail A West 1st g 4s gu..l998 A-0
Cl A Mah 1st gu g 6s....1943 J-J
Roch <6 Pitts 1st g 8s...1921 F-A
Consol 1st g 8s
1922 J-D
Buff A Susa 1st ret g 4s.iil951 J-J
Bur O R <fc N bee C R l «ft P
/ ian So 1st ext 8s
1913 J-J
v->2d 6s
1913 M-S
Registered
1913 M-S
Oarh A Shawn See 111 Cent
Carolina Cent See Seab Air L
Carthage A Ad See N Y c A H
CedRIaF&N See BC RAN
Cen Brancn Ry See Mo Pao
Cent ot Ga RR 1st g 6s..pl945 F-A
Consol gold 5s
„
1945 M-N
Registered
1945 M-N
1st pret income g 6s....pl945 oct
964
....
132*4
Sale
112
974 J’ne’09
894
101
112
......
110*4
904
:
*
•
•••
91
103
113
112*4
•
112
1104 112
•••
004
....
Oot 09
• ••«
’07
127
92
95
9i4
9
r
924
96
89
91
917»
91
108
103
1104113*«
Registered
,«1987
Sinking fond 6s...l879-1929
112" 1134
Deo’09
•
•••
•
•••
Registered
1879-1929
Sinking fund 6S...1879-1929
Registered.
1879-1929
Debenture 5s
1909
1084112
• •••
*98
984
• •••
Registered
1909
1921
Registered
Sinking fund
1921
Debenture 6s
xio-4 110*3
1154 uec u»
1I04 1104 Deo’09
•
• •••
•
...
....
....
109
100
*1164119*'
814
90
107
10 1004 108
2 104
Refunding
.
113
109
>*
88
•....1
Sale
88
89
84
84*4
1164 Feb’09
1084
lb9
113
Apr’06
88
89
Deo’09
844
84*4 1
Deo’09
85
115
1164
19 10741114
*•••
•«.*••
79
80
Deo ’01
•
.
.
• •••
......
904
90
63
60
63
10
•
1044 Sale
864 Sale
103
ib‘i’4
102 4
84 4
844
8l4
864
874
87
87
82
Sale
1025 Nov 09
101*4 Dec’0&
6
....
1
.
..
3
17
....
•
•••
83 4 Oct ’09
93
93
93
3
62 4 Saio
824
834 874
103*4 1U4
103*4 ‘104
26
103 S Sale 1U3S
103 4 142
72 4 70 Sep’ou
88
May’06
814 894
1024105
99 4 99 4
100106
102 4104 4
84 4 87 4
84 4
814
....
89
76
85
1024104*4
1017# 103\
......
....
HFlat aDue Jan
85
94
d Due Apr
70
e
72 4
on
Next
101
1014
1044106 4 1054
113 4 Sale
112*4
103
J.J
J.J
J-J
J.J
J-D
J-D
n
113*4
Col* 9th AT 1st gu g 68.1993
Lex AV * P F1 st gu g 5s 1993
Third Ave RR con gu 4s 2000
CentTr Cocertfs stmpd...
Third Ave Ry 1st g 5s.. 1937
N Orl Ry * Lt gen 44s ..1935
St Jos RyLtH * P lstg 6s ’37
•st Paul City Cab con g 6s. 1937
*7
Due J’ne
•••
•
1024
874
93
112 4
112 4
102 4
193 4
105
Apr 09
884 83 Deo’09
110
M.y’UH
90
Jan ’09
98
93
964 94 Deo’09
106
944
75
sale
89
S.10
1044
994 sale
99*4 100
3
....
3
11
Oct’09
100
lol 4
994
Sale
• •«...
1014
994
1014
86
126
113
114
....
•
•
•••
4
72
6
2
Deo'09
113
4
Mny’09
1284 Dec’09
99*4 101
99*4 1004
804
904
•74 91
107 4 110*4
90
98
94
90
1004
97
944 944
74°s 80
734 77
75
984100*4
89
93
1034
10541084
2
1
&0
128 4
114
106
1244 129
127*4
1084 U04
124
13 100
102
100
1014
il2*s Nov’09
114
6
lOo
1124
904
73
994 Dec ’09
894
894
91*4 Lee’08
100 4
1004
1034 Oct ’09
994
*’94
Mar’09
994 Deo ’09
1014 Sal.
99*4 Sale
1014
85*4 86
126
113
T
75
744
76
994 984
1004
-ff*
1134 9«b’06
944 Nov’09
764
76
754
824
904
1 10141034
1 1004 105
24 112
117
1 11341144
26 1024 1064
106
105
1014
1054
114*.
sal*
107
....
994 1014
9941024
10141014
99
1004
9941034
101
98
1014103*4
85
126
90
187
1124116*4
114
1144
1124115
127
Deo'09
129
11241144
100 4 10u4 Aov’09
10041024
86
94
Dco’09
93*4 954
lu3
1004 103
2 1044 105 4
bale
loo
1004 328 101 1044
994
io34 0ct '08
88
69*4 Dec’ub
88
924
934 Sale
934
®34 *46 934 95
1074
108 4 oei 'U9
108 4 109*4
....
loo
94
lo8
loo
▼
1104
1084 109
1104 1134
Nov'u9
1014 103
8 108
1104
♦ WW V
108*4
100*4
104
104 *# Aug’UW
Il9
13 f 43 iy '©o
10u 4 Nov’09
luo
Nov'09
107
lo»4 10? Oct ’08
994...... 1004 Oct *U9
luo
Nov’uw
1084
lUa4 Deo’08
lbO
1UU*4 100 4 F»ec'08
*a
....
i.004
••••••
......
„ttt
100
loo
107
102*4
101
1U0
100
108
4101*4
,fft
1u64Nov'u8
113
li3
99*4
100*4 89*4
.
.
•
107
102
110
.
1064 107*4
1 113
1164
19
99 4102
i0O4J’ly
©9 4
884
93 4 Apt '09
Vt-F
111*4
lil”4
A-O 111*4
110
1U4 Nov’08
A-O
109
IO8-4
Notow
A-O
109*4 low 4 use ’09
A-O
100 4 •* ne'u9
M-N
M-N
looS May’uw
106
107 4 sep'o9
A-0
103
0 ne’o7
A-0
110
113*#
110
DCO'OW
M-N
* *jr 'oe
M-N 1*1094 ...... 109
994101
101
M-S
Apt ’U9
U64H7 li74 ucl ’U8
M-S
F-A 1114
lUS Deo’ow
122
M-S
142 4©«0’02
119
4
1234 Apr’08
J.J
101
1034**“*'U9
M-N
3
1114112 ms ms
J.J
113 4 Aug’09
J-J
984 98*4 was
J-J
9©Y 4i
98
99
j.j
Aug’UW
914
Sale
91
92
4i4
A-0
984
87
M-N
J’iy ’04
974
97
J’ue’09
M-N
944...... 944 Aug’UW
M-N
98 4.
84
Dec'09
M-N
92 4
M-N
934 Aug’09
914
M-N
«34 934 Aug’u9
82 sale
M-N
81S
4 1601
90
......
••••••
1044 1064
1UU41014
1054
1134114
loo
WWW
liU4 Dec’uw
iuu4 103
F-A
M-N
J-D
#••••«
ADue J’ly
101
103
M-S
M-S
70
J.J
j-J
J-J
M-N
J-J
Tn-City Ry * Ht 1st s f 6s.l923 A-0
underground ef Lon 6s... 192b M-N
4 4a
1933 J.J
Income 6a.........
1948
U mon Ei (Chlo) 1st g 6s.. 1946 A-0
Umtea Rys St L 1st g 48.1934 j.j
United RRs San Trsf 48.1927 A-0
Dae May
....
Oct ’09
89
64
99*4 101
b84 94*4
93 4 93S
112
112
108*4 1114
108
1104
109 4 110*4
1004 101
100S100S
io7
108 4
ioi” ii'3’4
••••••
i’22*4
123 4
1034 103 4
iliS 1144
11341134
98
1014
99
89*4
100 4
94
*97 * *97**
944
93*4
947g
93 s
95
96
934
934
734 85
80
08
••••••
lol
1014
117 4 119*4
1114116
87
80
4102*4
115
117
Page.
Bway*7thAvlstog5s 1943
88
784 84
102
102**
1014102*,
J-J
994 Dec ’09
Dec’ow
89
Year
1909
104
*'6
100
Street Railway
Met St Ry gen col tr g 6S.1997 F-A
Ref g 4s
2002 A-0
1
1024108
84
1044
87
103
103
994 Mar*09
it) 3 *4 1024 102 4
103
Dec'Ob
86
844
85
85 4 844
84 4
Sale
82
814
102*4
1014
80
1044
1004
994
Range
11041104
1
1084 Oct *09
100
g 4s
1934
CoU trust SsnesH 4s ..1910
J 4S
1912
M *s
1916
N 4b
1916
O 4s
.1917
P 4S....
1918
Ohio R I * Pao RR 4S..2002
80
J’ly’uw
2002 M N
Registered
CoU trust gold 6s
1913 M-S 102*8 Sale 1024 102S
Bur Ced R * NorthernCon 1st * ool tr g 6s...1934 A
1144115 115 May’09
*1184
1204 Mar’03
1934 A
Registered
CRIF*N Wistgu6s. 1921 A-O 106 ssssee Ul
Nov’05
M * St L 1st gu g 7s.. 1927 J-J)
lUIiiCEliLAiiEOD6 BONDS—Continued
•No prioe Friday; latest this week.
1933
Ext * imp sfund g 6s 1929
Ashland Dir 1st g 6s..1925
Mioh Dir lstg6s......1924
Incomes
1911
Ohio Rook lsi * Pao 6s...l91?
Registered
1917
General gold 4s
1988
Registered
......1988
1024
118*4 1214
e
•• •
....
1044 Sale 104*4 1044
101*4 bale 10i»4 101*4
100 4......
100*4 6LAJ’07
110 4
Street Railway
g 6s
1946 A-O
1st refund conv g 4s....2002 J-J
BkCity lstoon 5s.1916.l941 J-J
Bk Q Co* S con gu g 6S.1941 M-N
Bkiyn Un El 1st g 4-&s.l95u F-A
Stamped guar 4-6s....l95u F-A
Kings Co El lstg 4s....1949 F-A
Stamped guar 4s
1949 F-A
Nassau Fleo gu g 4s ....1951 J-J
Conn Ry* List* ref g 4 4a'51 J-J
Stamped guar 4 4a
1951 J-J
Det United 1st con g 44a-1932 J-J
Havana J£leo consol g 6s. 1952 F-A
Inter-Met ooll 4 4a
1956 A-0
Inter Rap T 3-yr conv 6a. 1911 M-N
i 45-year 6a Series A
1962 M-N
Internal Trao 00U tr 4s.. 1949 j.j
Manila Elec 1st * coU 6s. 1953 M-S
1933
North Illinois 1st 6s....l910
MU L S * West 1st
g 6s 1921
11441174
•••
• •••
io2*
I03
i
118 ■* 118
un^v w
116
1194 1204 Au8 09
884 814N0T 09
2u prei income g 6s....pl945 OOt
2d pi ef income a 6s stamped
3a pret income g 6s....pi94o 00V '♦ 84 4
Brooklyn Rap Tr
deb 6s
Registered
109
09
1
M-S
M-N
M-S
M-8
1910 J-J
1st 5s
Lacrosse* D 1st 6s....l919
Mineral Point Div 6s....1910
So Minn Dir 1st 6s
1910
Wia * Minn Div g 6s....1921
MU * No 1st M L 6s....1910
1st consol 6s......
1913
Ohio* North w cons 7s....1915
Extension 4s
1886-1926
Registered
..1886-1926
General gold 34s
1987
93
1014
9741004
*88
93~
6
Nov’09
1x94 Mai’04
984 8ep '09
100
Noy’04
96*3
•••
•
964
1124114
97
974
•••
•
964
111
1014
12Y
141
1
Apr’09
J’neOO
1064
114
86
65
Not’09
Deo’09
884
924
92*4
904
904
•••
....
924
914 Oct ’09
994
99
99
99
l^U
Oot '01
ioa**
92 4
•
924
90 4
99 4 Sale
964
....
J’ne’09
1124J’ly ’09
114
94
109
Oo6* 179
944
92«» 934
89
103
8
127
100
..
1104113
....
964 J’ne’09
1254
33
08
Sep’09
954
109
96
•••
....
J-J
M-S
M-N
A-O
J-J
J-J
F-A
J-J
....
116 \ Noy’05
110
Sale 110 \
110
104 4 Dec'09
124
1244126 4
4 Dec ’09
125
Sale 121
125
J-J
J •J
Cliioago * Ene See Erie
Clue In * Louisv ref 6s...1947 J-4
Refunding gold 5s
1947 J-J
Louisv N A * Ch 1st 6s. 1910 J.j
Ohio Ind * Sou 60-yr 4s..l956 J-J
ChioMU*at P term g 5s 1914 J.J
General g 4s series A..«1989 J-J
-J
Registered
*1989
General g 3 4s senes B.«1989
-J
25-yr deben 4s
1934 J-J
Ohio A L Su Div
g6s....1921 J.J
Chio * MoRiv Dir 6s...1926 J-J
Chio * Pao Div 6s
1910 j.j
Ohio * P W 1st g 5s
1921 J.J
Dak* GtSog5s.
1916 J.J
Far * Son assu
1924 J.J
g 6s
Hast * D Div 1st 7a
1910 J.J
....
106
100
Ry 1st 6s. 1936
122 4 H9 102*9 123 4
1*24 157 106*4 1234
yy78 Sep ’09
99*a 994
98 4 Dec’09
984 984
97
Sep ’09
97
99
944
94*» 121 934 964
904 Sep ’09
1044 J’ne 08
a?
A-O
General oonsollst5s....l937 M-N
Registered
1937 M-N
J-J
Ohio * ind C
1204
944 94*4
109*4 110 4 1104 OOt’09
Al-S
954
924 924
924 954
112 4 122
121*4
997#
9a 4
97
92
2
5
119 4Nov’09
1214122
1214 sale
J-J
Stamped
Sale
100\ Sale
A-0
A-O
Nov
Nov
M-N
J-D
u-D
J-I)
F-A
F-A
M-S
Southwestern Div 4s.
1921
Joint bonds See Great North
Debenture 6s
1913
General 4s
1958
Han * St. Jos consol 6s..1911
Chlo* E Ill ref*
imp g 4s 1955
1st oonaol g 6s
1934
Ask Low
No
82 4 Nov'uO
108*4 109
1949 J-J
IBs Div 4s
1949 J-J
Iowa Div sink fund 6s.. 1919 A-O
Sinking fund 4s
1919 A-O
Nebraska Extension 48.1927 M-N
Registered
1927 M-N
xluiaba Alnll bee At Coast Line
844884
1064
fa'
Last bale
?:J
Registered
Railroad
A iaoama Cent bee 80 By
Albany A Susa bee Lei A Hud
Allegheny Valley bee Penn RO
Alleg A West bee Bud K A 1'
A1987
J-D
J-J
J-J
J-J
M-N
J-J
Registered
1992 M-S
Big sandy 1st 4s
1944 J-D
Oraig Valley lstg 6S....1940 J-J
36
109<4 lo9 103*8 Deo’09
954
8s deferred Brown Bros otfs.
1004 200
1004 171
Week's
Range or
Rid
NY* Long Br gen g 4s 1941
Cent Paoifio
See So Paolfto Co
CentVermont 1st gu 94e.«1920 Q-F
ChaaJbsav Am Atl Coast Line
Ches * Ohio gold 6s
«1911 A-0
Gen funding *
impt6s.l929 J-J
1st consol g 5s
1939 M-N
Registered
1939 M-N
General gold 44s
1982 M-S
n
Price
Friday
Jan 7
Am Dock A Imp gn 5a..1921
Le A Hud R gen gu g 5s 1920 J-J
Leh A Wilks B Coal 5s..l912 M-N
Con ext guar 4 4s....01910
imperial Japanese Govern in i
1925 F-A i 964
Sterling loan 4 4«
2d series 44s
1U25 J-J X 94 4
Sterling loan 4s
1931 J-J 1 884
Repnbof Cuba 5s exten debt.. M-S {l02
San Panlo (Brazil) trust 5s 1919 J-J i 06 4
U S ot Mexico s I'k 6s of 1899
Gold 4s of 1904
1954
g!
Cent ot (la RR—(vonj
3d pref income g 6s
stamped.
Chau Div par mon g 4s. 1951
Mao <fe Nor Dir let
g 6a. 1940
Mid Ga A A tl Div 6S....1947
Mobile Div 1st g 6s
1946
Cen RR <& B of Ga ool
g 6s 1937
Cent of N J gen’i gold 6S.1987
1034
4 100*4 102 4
....
Mar’09
964
Nigh
100*8 D>24
100
101
'S
N. Y. STOCK EXCHANGE
Week Ending Jan 7
Year
19(,9
No Low
„
Dec’Ob
Oct ’09
Nov’09
l"ls<
Nov’08
H54
115
100^1014 101
M- 8
Bonds Sold
all—"and interest”—except for income and defaulted bonds.
BONDS
Range
•
are now
fcDue Aug
67*4 Sale
87
87*4
1074110
-97 4
98
101
85 4 Sale
33
35
......
73
.....
75
oDae Oct
80
Dec’09
48
J’ly ’09
1014 Deo’uO
100
94
69
67*4
....
j’ue’09
oct ’l»9
694
42
684
412
10 ^ 4 Dec'08
87
Dec ’09
98
Nov’Oa
ir
99
J 'ly 09
98
Apr’u9
85 4
85 4
34
Deo’09
84
uct ’08
82
Deo’09
p
»» t
...
654
634
106
10
▼ *
^
2
«
72*4
1154
87
98
99
98
734
85 4
’22
-
1024
1024
724
10741074
98
....
73
Due Nov
92
634
1064
884
1074 Deo’uO
73
***
-
78
43 4
101
100
94
874
-vn-r
82
72
•8
794
Option Sale
95
New York Bond Record—Continued—Page 2
Jan. 8 1910.
•e
BONDj*
Prior
N. T. STOCK EXCHANGE
Week Kndino Jan 7
Friday
Jan 7
Wee**
Ranee or
Loti Sale
BONDS
Range
ho Low
Hitt
AAk Lou
high
Ohio Bock 1 A Pac—< con)
102
H>2
106
Ang’08
Choo Ok A G gen g 5s .01919 J-J
Consol gold 5s
1952 M-N 10934 lllH 111 % Ang’09
Nov’09
Kook A lies M 1st 6s....1923 A-O 102*4 104*4 106
Onto 8tLA.NO See 111 Cent
Ohio 8t L A Pitts Otoe Peun Co
127
Ohio St P M A O oon 6s... 1930 J-D 126% Sale 126*4
93
Deo’03
9Ui*
Cons 6s reduced to 8 %s.l03o J-D
Nov’09
127
Oh St PA Minn 1st g 6s 1918 M-N 126
126
129% May’O0
Nor Wisconsin 1st 6s...1980 J-J
St P A 8 City 1st g 6s...1919 A-0 114% 11434 114% Lee'09
Ohio A Westlnd gen g 6s <719:-! 2 Q-M 109% 112% 110% Deo’U9
93
92*4 Deo’09
Consol 60-year 4s
1952 J.J
Ohio A W Mich net Pere Marq
Choo O A Gulf Bee C R 1 A P
113
Oot ’00
Oin H A D 2d gold 44s... 1987 J-J
107% 107%
Cin D A 1 1st gu g 6s...1941 M-N 107%
0 Find A Ft W 1st gu 4s g.’23 M-N
87
Deo’02
88
88
Cln I A W 1st «ru g 4s. 1958 J-J
106
105
105
Ind Dec A W 1st g 6b... 1986 J-J 106
107% Deo ’02
1st guar gold 6s........1936 J-J
Cl St LAC Bee COO A St L
Cln SAC Bee C C C St L
Clearfield A Mah See BRAP
96%
96
96% Sale
Clev Cm C A st L gen k 4s 1993 J-D
93
94*« 94% Aug’UU
Cairo Dir 1st gold 4s....1939 J-J
94%Dec’02
Oin W A M Div 1st g 48.1991 J.J
96
94 Dec’09
St L Div 1st col tr g 4s.. 1990 M-N
93
91
Oct ’07
Registered
1990 M-N
96
Deo’09
% 96
8»r A Cot Div 1st g 4s.. 1940 M-S
93
98
8ep ’06
W W Val Div 1st g4s... 1940 J-J
104%
103% Deo 09
0 I St L A C consol 6s.. 1920 M-N
98
98*4 98% .nov’09
1st gold 4s..
...,lcl930 -F
98
98 Aug’09
Registered
£1936 -F
108
109% Sep’09
Cm 8 A Cl oon 1stg6s.. 1928
-J
109% Deo’09
CC C A 1 consol7s
1914 J-D 109%
Consol sink fund 7s....1914 J-D
126**
i*25*‘ NoV’09
126%
General consol gold 6s.1934 J-J
Registered
1934 J-J
94 J’ly’08
Did Bl A W 1st pref 4S.194U A-0
0 Ind A W 1st pi 6a...tQ938 %-J
92%
93% 93** Dco’b'y
Peo A Last 1st oon 4s... 1940 A-O
66** 67
66%
67
income 4s
1990 Apr
Clev A Marietta Bee Penn Bit
Olev A Pitts Bee Penn Co
80%
21%
80%
Col Midland 1st g 4s
1947 J-J
96% 96% 96%
96%
Colored j A Son 1st g 4s...1929 F-A
98
98
Sals
97%
Ref und A ext 4 %s
.1935 M-N
113
%
114
II334
113%
Ft W A Den C 1st g 6S..1921 J-O
Coium A Greenv See So Ry
Col A Rock Val Bee Hook Val
UolATol Bee Hock Vai
Col Conn A Term See -SAW
Conn A Pas Rtva 1st g 48.1943 A-O
96
Jan *09
Cuba Bit 1st 60-yr 5 g....l952 J-J
I tak A Gi So see CM A St P
JL/aiias A Waco see M K A X
Del Lack A Western—
111%
Morris A Essex 1st 7s... 1914 M-N 111% Sale 111%
sale 114
1U
1st consol guar 7s.....1915 J-D 114
127 J’ne’05
Registered
1916 J-D
92
94
Sep *09
1st ref gu g 3 4s
2000 J-0
117%.... 117%Nov’09
N Y Lack AW 1st 0S...1921 J-J
109% Deo ’09
Construction 6s
1923 F-A 109%....
90% Dec’09
Term A improve 4s
.1923 M-N 100
102% Feb’03
Warren 1st ref gu g 3 %s.2000 F-A
il9%
120%I118% Dec ’09
Dei A itud 1st Pa Div 7s.l8l7jM-S
.....149
Aug’Ol
Registered
1917 M-S|
lui%aaie 191% 102
10-yrconv deb 4s
1916, J-D
1st lien equip g 4%s ....1922 J - J 10i% 102% 101% 101%
100 %
1st A ref 4s
1943 M-N lOo%sai« 1U0
high
21
96
1936 J-J
improvement gold 6s...192S! J-D
1st A refunding 5s
1955 F-A
Rio Gr Juno 1st gu g6s. 1939 J -D
BtogrSo 1st gold 4S....1940 J • J
Guaranteed
1940, J - J
Cousoi gold 4%s
Rio Gr West 1st
g4s....1939'J-J
Mge and col trust 4sA. 1949 A-0
“
'
~
“A-O
Utah Cent 1st gug 4s al917
Dm Mot A Ft D Bee M A st L
DM Mol Un Ry 1st g 6s..1917 M-N
Det A Alack 1st lien g 48.1995 J-D
Gold 4a.
1995 J-D
Detroit Southern—
Ohio Sou Div 1st g 4s...1941 M-8
DuiA iron Range 1st 5s..1937 A-O
....'128
96 %
14
tj^Mtof Minn Bee st P M A M
Registered
1st oonsoi gen
J-D
M-8
M-8
J -J
..1996 J-J
lien g 4s..1996 J • J
Registered
Penn coll tr g 4s
60-year conv 4-. A
1996 J-J
1961 F-A
1953 A-o
do
Senes B...1953 A-0
Butt N YA Erie 1st 7s..1916 J-D
Ohio A Erie 1st gold 6s.. 1982 M-N
Clev A Mahon Vai g 6s.1938 J-J
Long Dock consol
g 6s..1935
Coal A RR 1st cur gu 68.1922
Dock A Imp 1st our 6S..1913
A-O
M-N
J
118
Dec *09
94%
94
97
94
97%
96
96
Eq G LN Y 1st oon
g 6s.. 1032
Gas A Elec Berg Co c g 68.1049
Gr Rap G L Co 1st g 6s...l01o
Hudson Co Gas 1st g os..1949
Kan City (Mo) Gas 1st g 5s 1822
Kings CO El L A P g 6s... 1837
Purchase money 6s
x887
Ed El 11 Bkn 1st oon g 4s 1839
Lao Gas Lot St L 1st g 6s.«18l9
Ref and ext 1st g 6s
1834
MUwankM Gas L 1st 4s.. 1927
Newark Con Gas g 6s.... 1948
*Ne prioe Friday,
J-D
F-A
M-N
A-0
A-O
A-O
j. J
M-N
•
••••••
•
•••••
80%
82
114
!
i
1
100*4 101% 100%
105%
114
108
100% 102%
10L
106%
109% 116
....
112 115%
100% 104%
....
....
iCl
Bee sea A Line
....
»....
86
8i8
J’ly’09>....
97
99
95
Gila VGA Nor Bee So Pao Co
Gkrav A Oswegat See N Y Cent
Grand Rap A ind See Penn RR
Gray’s Pt Term Bee St L S W
Gt Nor—C B A Q coll tr4s 1921
98%
98
109% 100%
109% 111%
Registered. A....
..1921
St Paul M A Man 4S....1933
1st consol gold 6s
1933
1933
Registered
Reduced to gold 4%s 1933
8%
87%
99
80
06%
06% 100%
41 118
117%
98
J-J
J* J
127% 130
126%.....
• *•
101% 101%
1933 J-J
1937!
Minn Union Istg6s..l922
MontC let ga g 6e....l937
88%
J*J
J*J
ill % 11*4%
_
113%
102
.
Istoonsolg4%e.l088 J-J
1909 J * J
Registered
96
06
111% 114%
114
117%
*03% *0*6%
117% 121
109% 112%
90% 100%
'1*1*8% 1.2*2
25 100
1 101%
107%
103%
31; 100
103
128
107
128%
....
Extended let g3%s
1st gold 3ssterling
Coll Trust gold 4s
1951
1952
Registered
1952
1st ref 4s
1855
L N O A Tex gold 48 ...1953
Registered
1953
Cairo Bridge gold4s....I860
liomsvDivATerm g3 %s.l853
Middle Divreg6s
1021
Omaha Div 1st g Ss
1961
Registered
99
105*4
1961* J-J •102%
1951 J-J
1951 J*J
1951 A-0
Registered
1st gold 3%s......
Registered
St Louis DivA term
103
97
,
.
M-S
A-0
1851
1951
1951
Registered
Soring Div 1st g 3%s...l951
Western Lines 1st g 4s.. 1961
A-0
M-N ‘*9*9*’ Sale*’
90%
****
?*A
102% 109
105*4 105%
107% Apr’07
90
Sep ’00
04 Sep ’08
93 % May’09
80
J’ly’09
100% 100%
99
J’ne’08
108% 106
J*?
J-*
••••••
70
80
93%
98%
07
09%
94%
88%
04
03%
80
04
04%
80
100% 102%
99
08
*6*
98% 101%
101%
90
98% Deo’09
JS»y’o7
Apr ’09
0*0% ioo”
Deo’08
88%
i\iay’09
92
•••••
1
•••*•«
Apr'00
70% Deo’uS
70
79
89% Deo’08
88%
90%
’00
Nov’OO
Nov*O0
101 % Got
89% 100
97% 100 I 96
Jl2L Feb’09
117%
96
......! 96% Oot’00
117%
.117% 117%
116
118
118% J’ne’09
Oot ’00
80
......
'
96 100%
121
121
86% 98
6117% 120
118% 119
‘
100
88
,
**®
99%
89
97
100
88% 80
123
79% 70
J*J.
J-J
V*
J
M-S
J*g
Registered.......
1951 J.*®
Gold 3 %a
1961 J*5
Meinph Div let g4s...1861 J*®
St L Sou 1st gu g4a....l93i,M*®
Ind Bl A WMt SeeC O C A St L>
Ind Ill A la 1st g 4s
1960 J-J
Int A Great Norlet g 6s.. 1919 &-N
1909
aaaaaa
97%
96
94% 16
102% 102%
100% Sop *08
08% May’08
09% Feb’00
00
106
T
!
3........
113% Oot ’00!, ...1118% 117
116
116 J’ne’001
116%
......
......
1 98% 101%
117
1 117
1 130 1S2%
1
113
120
113
129
102
♦
BCllev A Car 1st 6s
1923
Garb A Shaw 1st g 4s...1932
Ohio St L A N O g 6S...1951
2d gold 5s
92
100%
gSs.1961 •“ «*
Gold 3%s.
ft
94%
98
Col A H V 1st ext g 4s..1948 A-O.
Col A Tol 1st ex 4s
1955 ,^’A
Houst E A W Tex See So Pao
HonstATexCen SMSoPacCo
I ilinois Central 1st g4a.. 1951 J-J
1
....
94%
Hock Val
13j
111
i.... 108*4 108%
i
101% 103%
98
1 97*4 101
99*4
127% 130
132%
*....
98
88%
J-£
See CYN
Han
A St JoSeeN
B AHA
QH
ousatonlo
128
[|’”i '132
-
106
98
114
1
l:
*1*2*8%
132
96% 99%
05% 99
1349
P6%
06%
100%
J*?
A-0
Registered.
1937 J-J
1st
guar gold 5S.....1937
tgaar
Will A S F let gold 6s 1038
Greenbrier Ry See Ches A O
Gulf A s 11st ref Atg 6e 61852 J-J
_
25
13
40
$-J
Dakota ext gold 6s....1910 *f-N
Mont ext 1st gold 4s..19371 J*£
Registered
91
40
96% Sale
96% Sale
.
J* J
B Minn NorDivlstg4sl048
23
,
J-J
107% 107%
Registered
126** i*25*
HalV
..
90
90
96
98%
MaPOtf
J’Jy’OS
97 % Oct *09
110% 46 109 112
86
103%
190% Aug’09
106% 107% 106%
86 86% 108
lu7
110%
109%
$0
40
45% 40 Deo’08
3d gold 4a
..1921**®!
106% 106% 106% i06%
Iowa Central 1st gold 5S..1838 J
76% Sale
76%
76%
Gold 48
1951 M-S
104
8
2
111%
74%
82
71%
76%
KalAAGR See L SAMS
an A Mich SmToIAOO
KCFtSAM 8'eeStL A SF
KCAMRAB See8tLASF
Kan C A Pamflo See MEAT
Kan
City Sou 1st gold 3S..1960
Registered
I960' A
Ref A impt 6s Apr 1950
A-O
Nov’091... 101 101
Kentucky cent Bee LAN
100% O0t ’091.... 106% 106% Keok A dm Mo See C R IAP
102
104% .Nov’ObL...' 104% 106
Knoxville A Ohio Bee So Ry
106%
lo7 Nov’09.... 106 107 %
ake Erie A W 1st g 6s. .1837 J-J
J 2d
99%
! 97 JauO0 ..|| 97
07
1941 J * J i
gold 5s...
122
2 120*4 125%
122
122
North Ohio 1st gu g 5s..1045 A-O
L Sho A Mich S See N Y Cent
120% 124 AugW....1122 134
91
82
87
87
87 %|
sal*
Leh Val N Y 1st gug 4 %s.1040 J-J
82
86%
81
Nov’09
....1940 J-J
Registered...
76
76% 76%
Lehigh Vai (Pa) cons g 4s.2003 M-N
76% 45 69% 80
Leh V Ter Ry 1st gu g 68.1041 A-O
......1 85% Feb’07
86
1 75% 90
86% 86 Deo’00
Registered.
1941 A-Of
80 % Sale
8U% Leh V Coal Co let gu g 6s.l933 J-J
80%
82 160 63
80
72
Leh ANY 1st guar g4s..1845 M-S
73% 179 57%
72% Sale
116
115
116%
Registered..
1945 M-S
118% Ang’09
1
El C A N 1st pf 68 .....1814 A-0
113% 115
114
113%
117
111
Gold guar os..*
no
121 Dec’08
1914 A-0
126
128% Leh A Hud R See Cent of N J
126
128
126% Deo’08
Leh A Wilkes b See Cent of N J
112% 120
105% 113 114 J’ne’09
103% 110
102
il)3% Got’08
Leroy A Caney Val Bee Mo P
101
72% Sals
103
72%
72%
83
Oot ’OO
Sale
102%
103
HO
Deo’00
114
Nov’00
107
112 % Dec'09
61
106% ibi”
34
......
'
....
112%
107
......
112% 116%
109%
112 % 114%
107
....
108% 106 % Deo’09
107 Aug’00
106%
96% 97
97
115 % 116 % 115 % Oot ’09
100% Got W.
106% 108%
....
107
81 97
10T
....
105
8$
116% 118%
109
97
.108
108 Nov’08
94*4 86*4 Sep’00!.. J! 86
05%
102
100%
......
113% Jan’06
101% 101%
101% Sep ’09
......
,,TIt
*1*0*7%
107% 107*4 *107
101%
64
64
64%
J.J
,«•&
•
108%
J-D *108
j.j
F-A
110
M-N
M-N
A-0
J*D
Ga Car A Nor
BONDS—Continued
on
Next Page.
Gas and Electrio
M-N
A-O
•
Bee Sea A Line
103% 106
08% 100
MISCELLANEOUS
Gas and Electrio Light
Atlanta G L Co lstg 5s...l047
Bkiyn U Gas 1st oon g os.1945
Buffalo Gas 1st g 5s
1947
Columbus Gas 1st g 6s.... 1832
Detroit city eras g 6s
1020
Del Gas Co oon 1st g 6s...l01b
Lew high
108
108
• 105M 107 %
*•••
89
Georgia A Ala
Dee *09
Deo 09
106%Mar’0b
!iMt Ten Va A Ga Bee so R;y
Bigin Joi A Last 1st g 6s. 194.1 M-N
M-N
M-8
M-S
A-0
106
74
111
Oot *09
ho
102%....
104
107
-
95% Oot VOL...
82% Dec’09
110
Ask
Year
1909
_
j 02% 06%
2d 6s
1916, J-J
Dal Short Line Bee Nor Pao
Dai So Shore A AU g 6s..1937 j.j
Elm Curl A No Bee Leh A N Y
Erie 1st ext gold 4s
1947
2d ext gold6s.....
1919
8d ext gold4%a
1923
4th ext gold 6s
1920
6th ext gold 4s
1928
1st oonsoi gold 7 s..
1920
1st oonsoi g fond 7s
1920
Brie 1st oon g 4s prior..1996
109%
Range
|3
06% 09% Georgia Pacific See So Ry
Nuv’09;
Sep ’04
or
Last Sale
112% 116 116
100%
1st general gold 6s
1942 A-0 10L 102 114
Mt Vernon 1st gold 6s.. 1923 A-0
85
Soil Co Branch 1st g 6s. 1930 A
L'argo A So Bee Ch M A St P
lint A Pere M See Pere Mar
FlaOAPenin See Sea Air Line
105
89%
Fort St U D Co 1st g 4%s.l041
86
^4«ssse 85%
Ft W A Rio Gr 1st g 4s...1928
falHarASA fiMSoFacCo.97
*al H A H of 18821st 5s. 1913 A-0
—.
110
Wee We
Range
Erie A Pitts Bee Penn Oo
,
Evans A T H 1st cons 68.1921 • • J
05% 96
96*4
96%
3!| 95
98%
103 *4 104% 103*4
103% 20 103 106
102%
102% Nov’09
101% 104
94% sale
94%
94% 73
9a
Feb ’08
78 Dec’09 ;::i'1**78** *¥o
Mar*08'
85
94%
94%
64
Deo 09
07
Jan’02
1937 A-O
Registered
1937
1940
Terminaflst gold 5s...1943
$5,000
each...1943
Regis
MidRRotN J Istg6s.l910
Wllk A Ea 1st gag 6s. 1942
tfiv A Ind lstcon gag6s.. 1926
*8*7** ‘*3*$*’
!loo%Deo’o9 ,...|l 97
.
•2d gold 4%s
General gold 6s..
98
02*4
....
127
119
110% 112%
...
Alb A Sus conv 3%s
1946 A-O
Reus A Saratoga 1st 7s. 1921 M-N
Del Riv RR Bridge Bee Pa RR
Deny A R Grist oon g 4s.1936 J-J
106
129%
129% 129%
...
100
111%
120% 130%
114
Rta
■S 7 A Green L gu g6s.l946iM-N
N Y Sus A W 1st ret 58.1937! J* J
127
......
&
Erie—(Con)
,
111
103
Price
Friday
Jan 7
U V
N. Y. STOCK EXCHANGE
WEEK ENDOW JAN 7
Year
1909
it?
ibi% ioi
Nov’00
06
Mar*0e
19
3
....
i'0'7
00
ib’8
74
ibo% i’02%
95%sep ’08
*9*0" *I*‘II
ioi
61% Got *01
Oot *09
100
i-103% 104 % 103%
100
102%
'*••••
•••••*
100
Msy’09
104% Sop’00
117 %Aug*O0
3$ Sep ’08
Iu0% lo2
91% 02%
100
108%
100 s
91%
01%
•••••a
•••a**,#
latest bid and Mked this week,
a
100
100
100
101% 104%
110 118
i’0’2% ioT* 102% 102% *”i
160%
••••••
103% *2 103*4 106
100
116
•#•••»
102%
i*u6”
8 100
101%
1
80% 02%
•
•••M
aaaaaa
Light
NYGELHAPg 6S...1948 J-D 102% Sale 102%
Purchase money g4s...l848
Ed El Ill let oonv g 5s..1910
1st oonsoi gold6s......1996
NYAQE1 LAP 1st oon g 5sl93U
N Y A Rich Gas 1st g 5S.1921
Pat A Pas G A E oon g 68.1949
Poo Gas A C 1st eon g 6s.1943
F-A
M-S
J-J
F-A
M-N
M- S
A
1947 M
Refunding gold 6s
ChG-LACkelstgugBs 1937 J-J
Con G Co of Ch lstgug6s.*36 J
Ind Nat Gas A Oil 30-yr 6s*36 M
Mu Fuel Gas 1st gag 68.1947 M
Syracuse Lighting 1st
Trenton G A El 1st g
g
6s.’51 J
84%
lib
Sale
Due Jaa b Das Feb d Das Apr « Dae Msy h Dae J’ly
110
103
84%
Deo’08
110
May’OO
97% J’ly’09
104% Nor’06
119
119
103% Deo*09
104% 104%
101%
102
94% Aug’00
98 %
100
95%
103% 104
103% 105
102
101
99
bale
90
■••••a
101
aaaaaa
99% Not’09
110 May’06
96 Jaa *08
105
102% Mar *09
102
90
14
89
>3$
100%
....
112
1
....
07
....
97%
....
121
102% 104
6 119
....
104%
10 103
6
•
aaa
101% 103
86*4 94%
101%
101
Deo’09
......
5S..1049 M
Union Eleo LA P lstg6s. 1932 M
Utica El LAP Utsfg6s.1960 J-J
Westchester Light’g g Bs.1050 J
84
100
•
••
•
09%
99%
•a
•••«•*
«•••
....
•
aaa
k Dae Aug 0 Dae Oet q Dae Dee 1 Option
%!•
New York Bond
96
..to,
Record—Continued—Page
w
O
m
Fries
Frida«
Jan 7
N. T. STOCK IXOHANQB
Week ending Jaw 7
Week?a
||
Range
or
Last Sale
Range
BONDS
Year
19U9
N. Y. STOCK EXCHANGE
Week Endino jaw 7
Long Dock
Hid
Ash Low
See Erie
MtgA No Low NiilA
Lon nr Isl’d-lstcon ft 6s.hl931|Q-J
112
11 ‘2ia 1124 Dec ’09
110
1124
lot consol gold 4«
102
711931 Q-J
General gold 4a
07 Dec *09
..1938 J-D *97* Hale
96
984
07 1014 1004 Apr’0l»
JTorrjr gold 44s
.1022 M-S
10041004
90
07
4a.......
964 Oct *06
1932 J-D
Unified gold 4a
96
94
94
01
1949 M-8
94“ *03*
Debenture gold Be....,..1934 J-D
Oner ref gold 4a... .....1949 M-8
ttttyn A Mont let gB*..101L M-8
let Be
......1911M-S
NYB&M Blstcong6al93b A-0
K YARB let ft Be.*...1927 M*
iKOrShBletcon ftftnSnol982
Louisiana * Ark let ft 6a.l027 M-S
Louiev A Nashv gen ft 6a. 1030 J-D
Gold Be
1937 M-N
Unified gold 4a
1940 J-J
Kearietered
1940 J-J
Sink fund gold 6s
1910 A-0
Gdll trust gold Be..
1031 M-N
K H A Nash 1st u 6s....1919
LCln A la»x gold 4 4s. ..1931
NOAM let gold 6a....1930
NOAM 2d geld 6s
1930
PensacolaDlv gold6s...1920
8t L Div Ut gold 6s.....1921
2d gold 8s....
1980
▲ti Knox A Cm div 4S..19BB
Atl Knox A Nor 1st g5«1940
Hendfcr Bttg81ststg6e.l931
J-0
M-N
J-J
J J
M-S
M-S
M-S
M-N
J D
M-S
Kentncky Centroid 4s^.1987 J*J
N A M A M 1st g 4 Mis 1945 M-S
A N-South M Joint 48.1962
N Fla A S 1st trn a 6s... 1937
£-
FA
g4 4« 1945 J J
NAC Bdgegen gu
Pens A Atl 1st gu ft 6s..1921
SAN Ala oon gu gBs..l936
F-A
F-A
1044 Dec ’08
09 4 Deo’00
•
......
97*4
89
100*...*
ISO
100
103
See LSAMS
1064 106
.....
114
116
1004
110
1114
106
►
1074107*4
107
92 4
113
101
109
110
....
'
974 08
,
71
71
107
110
110
96
08*4
88
92
914 Nov’09
1134 JrJJT*09
11241154
il0»4
109** i’104
Nov-00
94
17
Apr'06
•
924 100
904
99 ‘4
62
90** io’04
96*4
97
27
97
Dec’0&
11
24
86*4
83 4
234
964
27 4
204 26 4
80
Feo’081
80
Stamped guaranteed... .1977 M-S
Me* North bet gold 6s....l910 J *0
30
i’004 ioi**
10U4 YLay’09!
Mioli Cent
MM ot N J
See N Y Cent
See Erie
Mil L SAW See Chic A N W
MU A Nortli See Oh M A St F,
Minn A St L 1st gold Ts.,1927
1324 J’ne’OV
J-D. 132
18241334
Pacific EX let gold 6s...1921 A-0 1094
118 Jan'07
102
South West Ex let g 7s.l9l0 J
1014
May’09
ioi»4 i084
*P
let consol gold 6s
1084 107 Doc'00
1934 M-N 107
107
1114
82 4 834 Nov’09
let and refund gold 4s.. 1949 MS *
834 H?4
88 4 914 014 oct 'oy;.
Dos M A Ft D lst gu 4s...’36 J-J
914 914
Minn A St L gu Seen C K <fc N
09 4 Hale
M 8tPASSMcong4intgu’88 J *
994
994
99 1004
08 4 99 4 90
It SB M A A let g 4 int gu 1926 J*J
J’Iy’09
00
00
ttinnUn See St PM AM
I
Mo Kan A Tex let g 4S...1990 J-D
034 Sale
994
994 67 9841014
87
88
3d gold 4s...
87 4
2 86
974
...,pi990 F-A
884
let ext gold Bs
104
1 1034 1004
1034
106
194 4
1944 M-M
4
1st A refund 4a
86
sau>
86
H6V
8 83 4 874
2004 M-«
00 4 Hale
Ben e l 4»*e
1936 J-J
904
90*4 40 804 934
St L Dir let ret g 46
88
Apr'09
88
2001 'A-0
804
Dal A Wa 1st gu gBs...1040 M-N ioi"
106 Oct'09
110
105
KanC A Pao let g 4e... 1990 **A
92
93
94
01
93
Mo K A K let gu g 6s...1842 A-lO 1074 Ul
U3
Oct'00
113
1144
106
M K A Ok Ut ftu Be
1064
107
4
Dec
'09
1042 W-N
106*4 113
MKATolT 1st gu g 6a. 1942 M-S
1054 1044 Dec’09 ....| 104 4110
102
108
SherSh A bolat gu gBa.1943
1104
Apr'00
U04 1194
J-g
Tex A Okla let gug 6a... 1943 M-S Iu5 4106 4 1054
1054' 1| 104 1114
•Mo Pacific let oon gfia ...1020 M-N, ...... liu
11 l*sDeo 00...J 111
116
Trust gold 5s a tamped.a!917 M-S lul 4 Hale 101*4 ,10241
Registered
1044 Feb'07 ....!
»1917 M-S
let ooll gold Be...
102
Dec'00 ....1 101 1034
1920 £*A 1024 103
81s* Hale
8L4
1945 W-F
50-yeargOld loan 4s
81,e 56 784 £5 4
Id 7s extd at 4%
05*4
y6»« Not’O0 ...J 054 06 n
1038 M-N
Cent Br By 1st gu g 4e.l910 F *A
044 04*4 y5 4 iasc'00 ....'
86
Oen Brandi U Pietg4e.l948 J D
88 4 Del 09
84 91
lio
Leroy A C V A L let g Bs 1026 J J
Mat'u*....
.' two R ot Mo 1st ex g 48.1938
100 4.... .'100 4 Deo'Oil..
?‘A Ul
1**004 1004
2d extended gold 6e...l038
-116
»®P’09 ..,.1124 116
|* J
St JLIrMASgen con g 5el931 A-0, 1004 Sale 1094
109*4 l§ 1084112
y
Ben eon stamp gtdg6e l931 A-0
Ill
8«P '09
110 * 1114
Unified A refgold 4a..1029 J*J
85*, fiu%
864
6 86
9041
Httie
87
Riv A Q Div 1st g 4e..1033 M-Nj
87
874 16 87
Ol
Verdi V I A W let g 6s. 1926
102 pec 00 .... u&
102
■Mob J A K C letoone gBs.1063 J * J
i V8
Dec*06
•Mob A Olfionew gold 6a.. 1927 J-*> 120 121M22
Deo *00
let extension gold 6a..*1927 ^
iiH4 II74 Dct 'oy;;;;
Benerai gold 4s
00
01
, 0u
.1038
pec*o0gtfi, 01
MontgomDiv let g*6s!*1947 F-A1
1114 1124 Dct ’00
1124 1124
St L A Cairo 00U g 4s..el930
May’08
76
4-f
Guaranteed g 4a
*06* 101 Nov'04..
1031 J*J
MAO 00U 4s See Southern
Mohawk A Mai Seem X C A H
Monongahela Riv Nee B A O
Mont Cent Nee StP M A M
Morgan’s La A T See 8 P Co
Morns A Essex Fee Del LA W
Mlash Chat A StLlet 7e.l913 J-J 1084100
3 1084)124
1004 199
tv ut consol gold 6e.
1028 A-o IO04IU
111
Dec’oU
HO
1134
,
.
.
_
10I4
......
....
•
....
—...
t9
964
_
if?*'* \H
a-i
.
Jasper Branch latg 6e..l023 J - J
MoM M W A A11st 6S..1017 J - J
.T A P Branch 1st 6S....1017 J • J
-Nash D ior A Shot see LAN
Nat Rya of Mexpr 144s 1067 J*J
Jmt gen 4a
1977 A.O
Natoi Hex prior lien 44s. 1926 9-J
•Ut consol 4s
,.1061 A-0.
Bow RAD SeeH YN H A Hi
MJ Juno HR Fee NY Cent
i
1
..
U64
108 4.....
1084
04 4 Salt
89
,.
1164 Majr’07
1174 Mar-06..
113 J’ly’04..
..
;
044
I 88*4
102
84
Registered
;
84
see Cent of N J
N Y N H A H—Conv 6a..1948 J-J
Convdeben 34e
1956 J-J
Susq Iron
Convertible
BdjL IndulstA
s
f 5s. ...1932 J-D
a
19*6 M-S
1 g 6a.. 1043 F -A
deb g Bs—1911 F-A1
s
coll 6s gu..l034
Oofitln’talC IstSf gu5sg.l952
4r Riv Coal A C let g6s.. 1910
loft A Clear O A 11 st g 5s. 1826
Kan A HCtb Cists fg5s49t>l
Pockh Cob Collier 1st s i Ba’B?
Sunday Creex Co g 6s....1944
Tsnn Coal gen 6s.
1951
fsnn Dit 1st
g
6s
Ji
J-J
ol917 A-O
Birrn Div let consol 6s..1917
Cab C M Co 1st gu g 68.1922
Ds Bar C A I Co gu g 08.1910
Ttdtbr Fuellst s t os.....,1953
Vslron Coal A Co 1st g 5s. 1949
’
F-A
F-A
A-0
J-D
J-J
J-J
99
--r—
944 U8 924 96
89
894 44 86
Aug’00
102
103
84 ,
85
2 80
....
t84Deo’iKi
824
*96*4 ibb*
•#••••
04
1.074 Dec’Od
1024 Aprm
197
•Kg
08
1^.1
10>
J-D
F-A
87
934
a Due
2
94.
87
201 71
...
78 Feb’07
1044 104 4
108 Aug’09
LOO
100
074
100*,
034
86
May’97
1064 Dec’06
88 Sep ’00
110
J-J
M-S
.
—
86
80
—
17 1014104
1064100
Nov'jy
Jan *00
Nov’08
Aug'09
094
004
103
87
Jan 6 Dus Feb
113
R oon g 6S..1937 M-N
N H A Derby oon cy BS.1918M-N
N Y A North See N Y C A R I
N Y O A W ref
1stg 4s..flrl092 M-S
1004 Sale
Hale
101
134
100
1144
See NH'AH
N Y A R B See
Long Island
N Y 8 A W See Erie
,
N Y Tex AM See 80 Pac Go
Nor A South 1st ft 6s......1941
Norf A West gen g 6s
1981
M-N
M-N
extg 6s..1064 F-A
Improvem’t A
New River Ut g 68
1932 A-0
N A W Ry 1st con g 4a. 1996 A-O
Registered
1996 A-O
Div'i 1st 1A gen g4s...l944 J-J
10-25 year conv 48
1980 J-D
Pocah C A C Joint 4a.. 1941 J-O
COAT 1st gug Bs
1922 J-J
Scio VANE lit gn g 4s 1080 M-N
North Illinois See CUi A N W
NofUi Ohio See L Erie A W
Nor Pao—Prior lieu ft «s.. 1997
Registered.
1997
General lien gold 3s...’*«2047
Registered
a2047 ^-F
St PaUUDul DiVft ks.... 1996 J-O
Dul Short L 1st ftu 6s..4916 M-S
.
u
....
.
_
< let ’07
Deo’09
1304 9 an ’09
100
•
02
101
101
116
116
*984 100*4
08
82 4
98
*80” ’*934
33
1
014 954
100*’ DecvJy “j 99 4 1024
iOO
Dec’08 ..j;ioo
1004
014 Hep’U9 ..J| 014 04
100*4
1004
1334
1014
1994
67!l0l
22
Deo ’Oa
Aug’uO
103 4
1
•
J’ue’UO
101
1244-—. 125
Oot '09
146
9741114
•••
|
7
101
1014
1044
12 100
1244123 133
118 4
...
100
«j«’06
98 *4 Oct 09
93 Dec *09
WO
J’ne U8
Dec 09
88
ib*7
ib*7
964
101
99*4
104
Oct ’00 ....1 1264128
4123 1264 Nov’oy ...."125
120
124
1254 124
1 127
1284
4' 93 1004
984 HaJe
984
99
97
89
97
97
J’ly ’09
93
Hale
8 01
924
99
95
1014 Hale 1014 .102 431 9341034
80
Bale
80
80
884
4 93
10441064 106 4 Deo’J8 ...J 106 4 106 4
96
96 4 96 4 Deo'09
06
08 4
124
124
......
....
....
1024
724 Hale
!
72
08
...
100
1014 1024 202 1014104
1014 Dec'08 ...JI101
103
724
74
7*
Slj1 714
71 Nov’09
70
744
06 Deo’00 ...J 064 074
1
—
ft«A! 1174 120
118
110
110
certitfc'a.. 1023 Q-FI
U Paul A Dal 1st 6s ...1981 F-A! 1124------'ll 74
ad&8.„.,..w-w...-..19i7 A4> 103 104 4 104 4
084' 08
1st consol gold4s...... 1008 J-D
1 02 4
Wash cent 1st ft 4s..i...1943 4-M
02
111
113
{Nor Pao Ter Co 1st g 6s..1033 J*J
Nor Ry Cal See Bo Pac
Registered"
100
13041804
Feb 09
Oct’09
101
115
119
107
firl902 M-S
only
NYAPut
904 01
1014^0
109
Dec’09
1 'lm.
.
Oct ’09
J Ay o7
116
ioi
Sep ’00
Oct’00
J»d’90
Deo'00 1
121
1204
~
•
••a
•
•••
104*4
07 4 00
024 024
110 *4 116 *y
Nor WiS See C St P il A O
Nor A Mont See N Y Cent
y lnd A W See C O C A St L
bio Riv BR See Bait A U
Ore A Cal See 80 Pao Co
Ore Short Line See tJk Pao
Oswego A Rome See N Y 0
..109
|>ao Gokst Co 1st ft 5s....1046 J-D
x
ol Missouri see Mo Pao
Penn RR 1st real esi g 4s.1023 M-N
Consol gold 6s..
1010 M-S
Consol gold 4s
1043 M-N
110 4
Nov’09
1912 M-N
Consol gold 4s
..1948 M N
Alieg Vai gen gu g 4s...1042 M-S
DR RR A Bgelstgu 4s g.’36 F-A
PhilaBal A W 1st g 4S..1943 M-N
Bod Ray A Bo Ut g6s...1024 J-J
U N JRR A Can geu 48.1944 M-S
on
1084112
....
il
ac
Dec’00 ....103 105
1094 109H
1004 Jan'00
iOU4 ...
103 Nov’O0 ....101 -104 S
361
1*7 4 106*^
1014 Hole 1014 1**14
0tj4 bale
804
08 S 491il 04*4 100
1044 1044 1044 104 4 28 1034 1054
102 4 102*4
99 J ne’o7
163
104
100 4
-
1
!l034 Dec '09
96
1034
*102
400
1044
....
103 4104
J an '03
......jl0334 DOC’00r*
103*4
1*004
Next Page
Telegraph and Telephone
98
04
Deo ’00
U8
,
Convertibleg34s.-....1916 J-D
994 Nov’ti0
94
Sale
98
97 4
98
87 4i
82 4 Hale
2
*No prteo Friday: latest bid and asked,
07*4
.
Honsatonio
MISCELL 4NKOUS BONDS—Continued
•Debenture 5s
Cox ifti CO gen
A-O
^NYALongBr
Convertible g 34a
Coni nnd Iron
Butt A
1937
Debentures 4s
1931 M-N
West Shore 1st 4s gu...2360. J-J
Registered..
2361' J-J
N Y A Green w Lake See Erie
N Y A Har See N Y C A
Hud
N Y Lack AW See D L A W
N Y L E A W See Erie
....
-
.....
......
•••
8ajkt
112*4
Pitta A L Erie 2d g Bs.ol928;A-0 ♦102
Pitts McKAY 1st gu 68.1932 J-J
127
2d guards..
1934 J*J 121
McKees A B V 1st g 6s 1018 J* J 1114
Mioh Cent let consol 68.1909 M-S
6a.
1931 M-8 1124
Regristered
1031 0-M 112
48
984
1940 J-J
Registered
1940 J-J
JLA Slatg 34a
1951 M-S
88
Utg84a
894
1052 M-N
92
92 4
20-year deb 4s
1929 A O
D * Stur lstgug38.1989 J-0
NY Chic A St L 1st g4« 1987 A-O
'99**4 ioi*
06 4
99«s
27
-
KaAAG RlStguoBs.1938 J*J
Mahon C’i RR 1st 5s..1934 J - J
Il04ll5*a
63
98
104
••♦•a
120
.
1104 Sep'09
94
Nov’09
....
120
107
034 964
Dec '08
103
n
1244 1264
....
.....
914
99
11541174
....
106
•• ♦
>ss»
96
1064 1074 JW09
1254
ids 4
120 Jan ’09
1084
108
107 Dec’09
1144116 4 117 May’07
684 75
71
May’OO
04 4 Hale
944
944,
107
113
116 J’ly 06
110
Jan'00
96*4
974
974
124 4
Year
ItiOV
Last Sale
oaarnm.m
Nov’06
Not’OP
liec'09
.
.....
Range
or
♦ ••••
110
H44t>6o’09
11.7
100
1004 105 9841024
100 Mey’OU
100
1004
100 4 Deo'09
100 41004
110 Nov!O0
1U8 *4 1104
111 4 Oct ’09
111
1114
1004 Bale
99
Week? a
Range
.....
Apr’07
100
984 07
116
964
116
Ky consol 4s.1990 A-0
1990 A-0
Stropd tax exempt..1990 A-0
McK'pt A B V See N 1 Cent
'Mftt Cent eons g 4s
1911 f -J
1st cons inog 3s
al^SyJ’Jy
2d eons lnc g 3e trust recta..
Mex Internet let con g 4s.l977 M-S
994
1104*ot‘O6
102*4
Kesrisitet'ed
,
07"
•Price
Frida*
Jan 7
N ¥ Skin A Man Bcix See L l
Bto
Ask Low
Nioh No Low Nigh
V Y Cent A H Riv
62 904 94 4
0IV Sail*
914
92
g 348.1997 J-J
Registered....
....1007 J-J
004
004
»i 884 934
Deben ft 4a..... ....^.1934 M-N *95 4 SahT
96
964 48 084 964
DMte Shore coll ft 348—1998 F>A
71 80
80*« Sals
81
804
854
Registered
784...... 79 Dac'09
1998 F-A
784 844
28
79*4
Bale
SO
7*4
794
Mjch
Cent ooll g34s....l998 F-A
844
ftertlttrtrt
784
78 u Dec'**9
i.1998 F-A
784 824
loo
Nov’Ow
100
1004
Creek 1st gu »4s.l»36 J • J
B^cli
Registered
101
102
Mar’04
1936 J-J
••
2d 4m gold Bs
.1936 J-J
’ * 107
BeCchCr Ext Ut* 34s 61961 A-0
86
.....
%•••♦•*•(
Cart A Ad ut ftu
97 4 Apr’09
vis...1981 J-0
874 974
GouvA Oftwe lat ftft ftfis 1942 J-D
•aw
Moh A Mai 1st
iOO** Dec’Od
094
i*oo”
gu v 4«..1991 M-S
ib*04
N J June R gu 1st
106
oct *02
4a...1936 ft-A 101
81
M-N
964 Oct ’Os*
A-O 108
1124 108 Oct ’09
108
108
A Pa luceon gu
100
sv»p ’08
g4« 1998
ltt F1 *
130 Si 1*8*14 Jan*’u0
r®K
68.1032 J D 124
13141814
B WAOeon
108 4 111
lstext0s.A1922 A-O 1084108*4 10S4Dec’09
« 2d gu g 5«...«1915 F-A
1054 106 Jan ’os
R W A OTB l*t
106*4
gu g 58.1918 M-N
Ratland 1st cou v 4 48.4941 J-J 1014 1024 00 4 Nov’oy
094 80 4
OgALCham 1st ftu 4s gl948 J-J
904 Dec’03
904 92
904 984
80
814 92 J’ne’09
RuMAbjnI 1st ftfi ftIS.1949 J-J
904 92
tAW A Adlr 1st g Be. 1096 J-J
116 J’ne’oo
115
116
2d gohl 6«.......i
126
Feb’08
1096 A-O
Utica A Blk Rlvftu ft4s.l022 J-J
...... 102
1024Dec’oy
10241024
Lake Shore gold 34s
92
Hale
92
92 4 75
91
1997 J-D
064
00 4 Oct *09
904 81
Registered
1997 J-D
804 944
95*4
Hale
96
43
85*«
844
97
l^bentu-e g 4s
1928 M-«
95 4 Hale
25-year g 4a
954 39 | 83
064
1931 M-N
074
|(fl4Dec*08
.LAdeft BdgeCogtt g4s..1945 M-S
L N A A Oh SeeC I A L
I
1/1 nhon Coal
171 anhattan
LXXXX.
^8
BONDS
'
[VOL.
3
0
100
110
103
110
87
06
87
100
Telep A Tel coll tr 4s 1028
1930
Convertible 4s
Mich State Telep let 6s.. 1024
Pac Tel A Ttt 1 St 5s
1937
Am
J-J
MS
F-A
J-J
J-J
M-N
M-N
M-N
West Union col tr cur 5S.1038
Fd and real est g44S...1950
Conv 4s, Series A.
1036
Mat Un Tei s fund 6S...1F11
tlnnuinccuring & induatriui
Allls-Chalmers 1st 5s
1036 J-J
Am Ag Chem 1st c 5s
1928 A-O
Afli Oot Oil ext 44s
1015
Am Hide A L 1st s f g 08..1010 Ji-S
Amer lee secur deb g 9s. .1025 A-0
Am Spirits Mfg ist g6s..1915
Am Thread 1st 001 tr 4a.. 1019
Am Tobacco 40-yrft 6s....l944
4a
.1051
Due dar dDns Anr
hDus /’tr JcD*e
o
Al-S
J-J
A-O
F-A
01*4 93
1044 Halt
084
09
09 4 Halt
99 4 BMlr.
66*4 0/
1024 103 H
924
.•’ft
1 0
99
H,
9*4
$64
IKS 4
lUu
84 4 Hale
102 4 -hue
07 4 Hale
3014 Hale
71
72
90
......
924
106
764
Bale
Bale
84 4
102
97 4
03
17
1U5V 177
00
004
1004
97 •«
102*4
I
4i
23
25
1-
Mafor
84146
l02Si
2
08
J
914 »6
02 410/4
98
lOu
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0841024
034 974
84
1024
05
100
80
96
93
103 4
884
t*84
llU<4
102
72
O'/
Dec’m
Dec’tO
96*4 103 4
67
00
96 4 100
Wl
Nov 'Go
107
65 1044 112 4
106
764
12
004 m
774 17b
Due Deo
s
74
Option
81
New York Bond
Jan. 8 1910.)
BONDS
Guar 3*08 eoll trust reg.1937
Guar 3 Vs coil tr ser B...1041
Tr Co certif’s gu g 3 Vs. 1916
Gu 3Vs tr ctfsp...
19
Aek
106
•#••••
••••••
»9v*
90 V
9«
M-6f
97^......
89*e rfb**
91V
91V
97 V Dee’09
*98**
107 *g
lsVg'ug 48*1941
pCC4bStBgU4»aBA...lU49A-0
8enes B guar....,
1942 A-O
StLASF RRoonsg4s..’06 J-J
Gen 16-20 yr 6s
....1027 M-N
..
South w 1>it 1st g 6s..1947 A-O
Relunding g 4s
1961J-4
K C Ft S 4b M con g 6S.. 1928 M-N
KGFtS A M Ry ref g4s 1936 40
KC A M R4b B 1st gu 59.1929 A-O
Os’rk 4b Oh C 1st gu 5s g.iyia'A-O
St louts so Bee Illinois Cent T
M-N
J -J
•D
D
HO
109
1U7
107
lst haul
112VJ b«*05
64
G37i
Ang’09
94V 93V Nov’Ufc
vioi
112V112 Dee *09
90V too ilOOV Dec*05
106V106
hong 6s 1945 J-J
Mortgage gold 4a...... 1945 J-J
Rioh A Dan con g 6s....1915 J-J
Deb 5s stamped
1927
~
Rich A Meek 1st g 4s...1948
.
Aug’09...;
113
(HIV Dee‘09
109V 105 Deo’09
10JV 1^6
106
111V116
1104V 100 V
....
[107 Deo’09
106
...
107
1921 M*Si 1USV
1926 M-S 104
1936 M-N 1«7 V
1936 M-N 106 V
seriee D 4^6*.
Series Efrs
•IV 91V Deo’09
91V •*
General 6s
SAN Ala
Deo’09
dS\s ‘iy '97
115
115
!
!
Bee LAN
bale
96
ee
Deo *09
96
92
97
Tel PA Wist gold 4S....1917
Tol St LA W prlieng 3V8.1925
IlsterADellsteongfis 1028 4-D
121 124V VJ 1st refund g 4s.
1962 A-O
1108 V HI
UaPaoRB A 1 gr g4s...1947 J-4
"
91
94
SbVdaU.
I00V
84V
H6V
81V
102 V
I
96V
91
88V 116! 88
88V
91V
1!
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v 101
77 j 83V »9
Sale I 84 V
85
.
......'117V
117V
\ 31V
3aV
sale
a 116 V 1*40 v
'100 V Dec 09
93 V Sale
80 V 34
79V Sals
20-yr conv4s
1027 J-4
1st A ref 4s
...p2008
Ore Ry A Nav con g 4a. 1946
Ore Short Line Istg6s..l022
1st consol g 5s
1946
Guar refund 4s
1029
M- S
4 -D
F-A
J-4
Utah Central
107V Deo’00
96
112
loov
102
•
Dee Mom DR*
Ow Div 1st 1
Tol A Ch Dr
110
108*5, 103
......
101V
76 V
108
85
76
83
Wab Pitts Tern
C«
2d gold 4s.
* *4
96 V 88V
96
92 V
83V 93V
sale
Tegisiereu..:
1949^-4
Ion gU^r gold 3 Vs.. *1920 J -D
Xb
; liv
....
W^aCdSLst’gSs'ioii 4**-V
ioa
,
llu*V AngVif
......
«...
US
U6
104
IO7V*ran’09i.
U6V 120
122 V Aug’09
116
ttev’06
112
i*07V 107 V
100V 103
102
124V
06V 100
97
99
117
V
120V
112V US
93V
06 V
SviStv
98
110
95
safe*
90 V
86
11*1
87 V 101
1UV1L
K 101
86
I
3
^2
83 Deo’00
76 V Dec’09
87 VD«b’o0
61V
50 V
34
11
11*4
U
12 V
86
82.
90
101
I0J
102 V lbi
87
87
71V
108
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.
.
J>0V
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43
53V
76V 8U
87V 91V
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1
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«2V
82V
6a
62
85 7«[
93V
84
73
73 *
73V
73
Dec’d9 ...J
73V
73V
100 V Noy’b9
Ibov 102
UO
117
H9 112 x/ec’vifi
02
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h
34
iOV
1**5 V DecOft
87
87 V
u 90
Deo’08
m&T&F&iZii-1™,' *
li| 87 ■
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lOhVPeu’Ob
95 a 0 ’00
,
■
116
108-3
May*O0
sale’
,
,
Jl 86
89
IOIV 104V
,.
00 v
_...
.
91V
108*4
....
WostN Yjb Pa 1st g PS..1U37 J-4
hiuugli at L 1st gu 4s *544*^
90V 95
Geu gold is—
RAC
S A, 1st g w»..lj9ip|k-A 100
.IOIV104 V
1043 A-O
Ur
income 6a....
lo7
te*4b Pae 1st g 6a....J931
Ml 10, 113
loo jljlvApr’w
<11943 N*t
Gils V C AX lstgug6s.192l
103 V...... 104V
South RyA
'08
1
Nous fb db W ¥Jst g
ioT’ilOf V May’O0|””!iio3
105 V
if 8s... 1926 A
68.19331^
103
1st guar As red.......li>33
V106
10a V
log
105
JojM 6A..192S 4
B* AC letgfeint gu..l937
kitten A Imp gQid 6s...l93tt F
\6ttV UOV'109V 110
100V UO V
109 V 109 V
RR 1st eons*! 4s.... ....1040 M ~
Cousoi g 6f int guar... 1912
1U0V11O |IU8V£o*H»0
Gen void4e int guar.. 1921
93
96
93V tev U3vDeo’09
tP*
WacodbA Wdiv lstg6s’3U
4b *N VN 1st gu K &«.... 1941
Morgan’s La 4b T 1st 7s.l913 A- o
1st gold 6e
1920 J-J,
Oct ’09
96V
11*V
101
Salk
Gen A conv * 4s
.
119
323
....
101
61V salV
85
97 VI
1U4V
10IV
Deo’04
»0V 93 V
97
Oct ’00
JM0
*
Warren
rreu
Bee Roi Lao A West
“h f,“* t
Cent sen Nop Pao
Wash
I06V sale
l' 105 *?
Nor’OB
Oot’09
.
103
93
1
TpMjtCiMiffWs..
pl02^M-i
01V
106
* • e>«
98
»8V 98 V
111V112v 112
f|
Debenture
92
18-Til
01V Apr’U9
106
86
98 V
110
100
J-D
112
83
Nov’09 ..Jl 65
75
103
Sep ’09 ....103
105
106 V Nov’04
ilo *u sale 108V 116V 6 110V112V
107 Vi 12 v 112
Sep’Ob ...112 112
101
Deo ’09
103
ilOL 106
00 V 93
91V i*ec’09
01V 05
02 V 93V
92 V Deo’Ob
86V 94V
89
80
89V 80
01V
8 0 *a 81
81
79 V 88 V
81
Bee MoP
TJ^2d goldseries_B«dl...... 19i
SherShr A So Bee M K 4b T
Sll Sp Oea 4b g Bee Atl Coast L
Bo Car 4b Ga Bee Southeru
Southern Pacific Co—
109 V
...Jiioev
Sale
85
96
4-J
lUO
109 V
3 107
«*<*n
Bee Rio Gr W<
50-year 5au...«l9
10
VV abash 1st gold 5s
lu&v.l
107
’07
106
107
....
•
1st cons
ilw*
107V100
110V
Dee’00
Deo’09
106V 106\ Sep ’00
106 V
1067® Nov’09 ....I I06 V 109
116 V Get ’09 ....115
117
08
07 V
03
97 V 18> 06
Deo’09 ....j 109 110V
109
*
g oa..
A
V
106
112
70
100
g SAKFSjsi
vsnsKsftrteai
70V
T9V
»5V..... 101V Apr’07
106 V 103
101 V 103V
....
J-D
UttSfif NS?giid 6a!:}92d J-4
Cm N j RR A CCo SeeVtkR
92 V
83 V
ts4
Dec’oy
...
Nov’Ob
lUVhaito 114V
U6V 856
07V 98
07V
98V 24
97
7
98 V 98V
98 V
116 V Salto 116V
3
117
11*4 V
113 V Dec’09
94V Sale
04V
9AV 60
04
Jan’09
108
107 V Deo’09
J847 J*J
„
inn
86
lol V sal*
101
,
91V Aro»’09
...107 V 111
Deo’o9
»
’08
103
Deo’Oo
112
Oct ’06
108 V
’06
80 V
106 V
I
Noy’OSi
VNov’oy'
75'
......
100
J*4|
4-41
50-year gold 4s
1960 A-O
Tor Ham A Buff 1st g 4s. A104U J -D
121V124V 121VDep’09
lhAV 103V 108V Deo'00
82
107
105
107
64
68
113
117
118 V 118 V
L
108
107
116
...
yo
100
110V
109 V 112*4
110 V 114 V
Apr’09
Nov’09
Deo’U9
U4V
114 V
115 V Apr’06
106V108
'
109
107
86
113
....
76
•
86
86 V! 90V
110
113V
86
,91
*92 *sf 92 V
109
J’ne’09
112 V Deo’09
114
114
108
104
iiev
Spokane Internet 1st g 5s 1965 J-4
| er A ol SI x. i.s<> g 4 VS..1939 A-Q
A 1st oun gold 5s.... 1894-1944 F-A
99V
100 146: 08 V 101
Gen refund 01 g os
1053 4-J
03 V Dec’00
07 V100
St L M Bge Ter gu g 58.1030 A-O
06
96V 15 96
93 V Tex A N O Bee So Pac Co
|
j
Oot ’09
102
102
102 V Tex A Pao 1st gold 5s
2000 4-D
2d gold ino 6s
gtfOUO Mar
La Div B L 1st g 5s
1931 J • J
W Min WAN Wist gu5s ’30 K-A
Tol A O C 1st g 5s
1935 4-4
Western Div 1st g 6s...1935 A-O
General gold 6a
1935 4-D
Kan A M 1st gu g 4s....1990 A-O
..
Sep’08'..
92 V Oct *09'..
92
J’ne’06..
.....
Guar stamped
j «o
W O A W 1st oy gu 4s..1924 F-A
West N C 1st obu g 6s..1014 J - 4: 106
100
87
108
104V t08V
6s....1919
^
Virginia Migeer C 6s...1916 M-S
90
110
87
90
110
....
103
107 V
0^1 1*0*9
817s'230
81
01
Sato
81V
I06V
So Car A Ga 1st g
108V
iyiTM-N
ow PAC lat ref gu g 4s 1940
80
....
I960,A O
A^kufay moon 680
29-year donv da
*8l“ Boh**
110
88 V' 02
102V103
102 102
94V
06
93V! 96V
6 106
110V
111V
113V
110
May’OU... 100 110V
....
112
Megk
1
'Not
02
......
il2V Deo’09 III!
11
110
sale
....
jl
ltotg6s.|yis'J-
*fl ext
Deo *09.::
107 V NotW
190
102 V
loo
87 V
87
St Louis div 1st g 4s....1961; J-J
AiaCeuR 1st g6s
1918 J-J iosV
&9V 92V
Atl A Danrr 1st g 4s
1948 J-J
87 V
2d4s
1948 J-J
Ati A Kad 1st g
guar 48.1949 G-Q 104V I'll
Col A Greenv 1st 6s
1916! J-J
B T Va A <*a Div g 6S..1930 J-J I ...... iio
Cog 1st gold 6a...
1956 M-N 11a v
R Ten rsor hen g 5s
1938 M-8 106
65
Ga Midland 1st 3a.
1946 A-O
Ga Pao Ry 1stg6s
1922 J-J 113 V
Knox A Ohio 1st JC 6s...1925 |- 4 H4V....
106
Mob A Bir prior
Feh’09.^
jl 08
......
114VD»hi’04
116
Mey’07....
104
Apr’Ob ....
00
J’^ 09
Pap el M M«x 1st gtis..l0111J * J,
Develop A
!04*aOet *09 ...
Riga, Be
....
Registered.............1804 J-J
gen 4s Ser A. 1956 A-O
Mob A Chto coll tr g 4s..l938,M-S
Mem Div lstg4V-6s...l996 J-J
Apr'07
0 t>V Not’09
07
Oct *08
105
of
1st gold 6i.^..,..«i..l»12'A.O
1st C0» guar g 5a1037 M-M
YerVailndA W
3u*yrlst g 4s.«1933;Mlap oou g 49... 1940 4--
VVk Ceu <6 pen
M9j,. J ilOV H0V
8
1
2909
Low
112
Feb’<>7.
104
Mar09.... 104
104
100 V Deo’09].... 100V101V
104 V J'ue’08....
a-u
1938A-O
So Pac Coast 1st gu 4s g. 10371: J-JI
Text!: NOSabDivlst g 6s. 1912 3-8
Con geld 5s*..M..«...1943 J-J
eo Pac RJ* 1st ref 4s......1056 J-J
Southern—1st con g 6s....1904 J -4
06 V Deo’00
B-Jj* 107
8enes O guar
......1042
Series D as guar...-...1945
Genes £ 34 guar g.... 1949 F-A
Senes F 4q guar
..1943 J-$
C St L 4b P 1st con g &S.1922 A-Q
Pensacola A AU Bee L A Nash)
Peo A East Bee C c c 4b St l I
Peo A Pek Un 1st g 6s....1021 Q-F
2a gold 4 4*
*1921 M-N
Pere Marq—CU A VV M os 1021 J *P
Flint A PM gds... ...4W3A-d
1st consol gold os
4039 M-h
Pt Huron Bit 1st g 6s. 1939 A-O
SagTus A 41 latgug 4a. 1931 F-A
Phil B 4b W Are Penn KB
Philippine Ry 1st 3U-yr a 14s’37 J * J
Pitts Cm 4b tot L| bee Penn CO
Pitts Cieve 4b Tol Ae<? BAD
Pitts Ft VV 4b Ch Are Peun Co
Pitts McKees 4c V AreN VCeu
Pitts Sir 4b JL K 1st g os...1940 4-0
1st consol gold oa
4943 J - 4
Pitts 4c West Bee B A O
L> sailing Co gen g 4s
1997 4-J
CvRe^iaiertxi
1997 J-J
Jersey Cent coll g4s...l9ol A O
Phil a A Read cons 7s...1911 4-D
Rensselaer 4b Bar Bee D A U
Rioii A Ban Bee South Ry
Rich A Aleck Bee Southern
RioGr West Bee Ben & Rio Gr
Roch
Pitts Bee B R 4b P
Rome Wat 4b Qg Bee N V Cent
Rutland Bee N X Cent
Oag Tus A H Bee Pere Marq
Ot Jo 4b Gr 111 1st g 4s...1947 J-J
St L A Cairo Bee Mob db oluo
St L 4b Iron Mount Bee M P
St L M Br Bee T RR A of St L
St Louis A a y— ieng 6s.1931 J-J
General gold 6s
1921 J J
C^ft
91
luO
08V Apr *04
Gr R A i ex
4
JPitts b t W A G 1st 7s... 1912 J 2d7s
1912 J*,
3d 7s.....
fcl9l2 A-6
Pitta * A Ash 1st con 6S.1027 M-N
SeaUdMd Air Llfce g 44
Oolilr refund g 69
08
AJ4T Low
or
so
Range
Year
Last
g5aul927| J-J
Aria lstgng 6s.e*10t J-J
VASA"
pge of c%*—6s
Cgb—6s Uf. 1912 A O
90
Msy’08
90
92
-
Gxay^s PtTer lstgug6s 1047
91 •«
98
Weekfa
Range or
Sale
Jan 7
w' rr
No of Cal
jar guar gfs
gas
Cal 1st guar
•
90V
1
Price
fHdav
Southern Pac Co—r Continued)
107
106
109V J’ly’OO
96
Aug’09
....
B.194Q J
St Paul A X>ui Bee Nor Pacitte
St P Minn A Man Bee Gt Nor
dt P 4fe Nor Pas Bee .Nor Pau
St P 4b S'x City Bee C St P M AU
8 ▲ A ▲ pass let gu g 4#. .11043
8P4b A P 1st sink i g 69.1940
Bar Jf 4b West
Bee Atl Coast JL
Scioto Vai A A A Bee Nor 4b W
ryrrr~
97
4
5|
Wibbk Bsqnvo Jam 7
uxal
High
89V
96*4
89 V
Dee *09
Dec’00
Jan ’05
110V Jan
19
8t L B W 1st g 4s lid ctls.1939
24 g 4s me bond otia...pl980
Consol gold 4s
......1932
i|-
J’ne’06
Aug’09
^ 110
107*e....
19
00
91
987fti 98
101
,195*
High'. Ae Low
104V1>«SW...~. 104
103 Deo‘09
102
„
IT. T. STOCK BKCHANGB
iyt9
Lov
F-A
M-S
GuSVStrctteD..
-.19
Guar 15-2$ year g 4s....19
Cl 4b Mar 1st gu g 44s..19
Cl 4b P gen go g 448 ser A/
Senes B
Senes C 34sSeries D A48....Brie A Pittsgugft Vs
Year,
S£Pa£L
Btu
104
BOND.V
Range
Jjfrft oclt#
Penn Co—Gnar 1st g 4^.1921 J-J
Registered
1921J - J
AU-Ntrru
ISu’
Weekft
*. STOCK EXCHANGE
WEEK Bw9u»q jAlf 7
B^cord—Concluded-r-Page
105
95V
109
>*0*4. *••:•••
toOto-OO
.•••to
OStoOiO O
UH 83
00
WiiA
Sioux F Bee StB MAM
>
Wis Cant 68-yr 1st geu 4s 1049 J-J
04 V Sale
09V 98
SupA Dul div A term 1st 4 s’36 M-N.
J
’
l"
1
92V
94 V 79
2
92V
03 V
89 V
02
94V
05
U18GKLUNEOD8 BOmW-OssobuM.
Hanetacturing Sc Industrial
Armour & Co 1st real est4 Vs’30 J-I>|
Reth steer 1st ext si 5s.. 10^6 J-J
bent 1 >e«t her 20-year g 5x1926 A-O
Corn Prod Ref af g 6s....1931
Distu >ec cor conr 1st g 6s. *2»
Ben Electric deb g 3 Vs.. 1042
K
5:fi|
l(|-yr g deB 6s........T...loi7
Int paper co 1st oon g 8s.l0l8 F-A
Consol conr s f g 5s
1935 J-4
Pump 1st s | 5s....1929 M-8
Laokair Steel 1st g 6s....1023 A-O
Int St
N V
A% Brake
1st oonr 6s ’28
"te^ub IA S let A coltr 5a. 1934
Inum Bag A P 1st si 5s.. 193b
r 8 C«athCo sided »ga..
101b
S Realty A1 oon v deb g5s’24
S Red A Ref 1st s t g 6s. 1931
S Rubber 10-yrooll tr6s.'l8
'
*
M-K
O
J-4
<4-5
J-J
J.J
J-D
94*4 Sale
09V Sale
94
99
99vs^to
100
88
sau
74 V sale
82 V
146
Sai«
104 V 195
91
96 V Sale
90 V #0*4
W W
146
147V
104 V 104 *v
DecH);
91
96V
100
114V 114V lUV
103 V Sale 103 V 103 V
96 V
07
98 H,
106
106
Dec’Ob
89
Sal*
89
89
90
104 V Sale
»8V
99V
90
104
No prioe Friday; latest bid and asked this week,
Nox’09
VO
104 V
a
6*8
78 V
xSS liv
42
lU *»>
31
12
m'i 5k
1*4
10
iir
1
7
9IV 98
104 V 106 V
84V
89
92
06
60 102 V 106
Due Jan
Sale
104V
10© *4 61b
103
106 V
J-D
99
Sale
08V
J-J
91V SMS
91V
U-fc
A-G
92 V
J-J
04
95
1
78 V
,y
35
**i
; 103
M-N
M-N
St* fl sr* ss*
99 V 178
6 Due Feb
Adams Rx oun
Bush Tei
Consol 6*.
ChroJeA t TantcoigSa.
Dot MAM klgtinoomyea..
tustit for Irrig Wxa 4 vs
Iht Mercan Marine 4 Va-.iV.32
J
J-J
xv-d
M-N
A-O
tut
Navigation 1st at 5a.l82i FA
News No Ship. A D D 5s <11990 J-J
N T Dock 50-yr 1st g 4a.. 1951 F-A
40
•
Due May
yDue J ne
3.7
sjj’
70 V Sale
83
85
32V
toV
95
9,
94 "S
Providence sec deb 4a.. ..1057 A.N
Provident Loan Sod 4 Va. 1021 M-8
S Yuba Wat Co oou g 6s..102b J-J
d Due Apr
1
90
Deo ’ov96 V Oot *db
100
JHn»x)8
96 V
......
5
13
7fi
‘92V
90
94
V 105
.
•
99
93
93 V
90
00
[ll2
ADueJ’ly
P
....
93V 100
90 V 95 V
02
94
90
93V
96 V
91V
Deo’oU
Deo’h
5(-
3
83
Deo’O
03a,
•
•
•
6
Jan nji
J’iy’09
J’ty’04
Due Nov
....
sOption Sals
CHICAGO STOCK EXCHANGE—Stock Reoord-Dailv, Weekly and Yearly
STOCKS—HIGHEST AND LOWEST SALE PRICKS.
Saturday
Jan 1
Sales
Tuesday
Jan 3
Jan 4
Wednesday
Thursday
Friday
Jan 5
Jan 8
Jan 7
Week
Shares
i
•
♦191
i
♦5
109
35
♦18
♦9
i
1
i
\
*434
i
i
♦31
♦70
s
1
*10t2
♦5512
1
1
.♦17
♦60
55
1
!
\
200
♦H*
i
5312
1
1
♦101
1
♦191.
2
10
109
36
19
10
5
33
73
19
57
18
68
55
200
2i4
2i4
7
7
♦185
♦2
♦0
195
21?
10
109
10812 108l2 ♦10812
34
♦34l2 35
♦18
♦9
105
19
10
47*
5
38
Last Sale 185
Dec’09
♦2
2
2l2
2i2
♦0
8
712
7*2
♦107
109
*107
107
34
35
3434 ♦34
Last Sale 19
Dec’09
*S
10
9i*
91*
47*
38
♦70
♦17
73
17
55
18
68
56
♦70
17
55
♦17
♦60
♦55
543$
♦18
♦9
19
10
♦434
3412
341?
5512
♦17
♦60
♦55
52
5212 63l4
♦101
105
♦101
*412
6
412
39
75
19
56
18
68
56
♦30
♦73
17
♦55
Last
Last
65
6212
5H* 6U2
601*
104 104 *104
105
1312
81
♦214
♦130
i
!
1
♦7712
1312
81
133
78i4
<
♦112
p
♦1401s 141U
♦1312
8134
1334
82
♦214
♦130
....
133
*7712
78l4
♦111
....
14012 14012
1,
Sj
38
71
♦52
♦1
♦2
P
is
♦3912
38l2
7H4
54
H8
3
41
39l2
3912
72
♦52
74
54
♦1
♦2
3
13l2
....
434
39
♦30
40
75
73
73
17
*17
18
60
*5412
6534
Dec'09
Sale 18
Sale 70
Aug’09
65
*54
66
40U
8712
_
135
136
Do
100
pref
62 South Side Elevated..100
1,830 Streets W Stable C L.100
Do
7
..100
pref
♦144
120
146
120
146
120
146
12012
1
i
1
i
1
1
i
1
♦18
♦116
♦123
108
♦120
11534
•
•
11612
125
10812
•
1
163
1
♦43
♦18
♦116
♦123
20
11612
125
10912 110
12212
11512
1221*. ♦120
11534 ♦115
16312 16534
12U8 1211$
10834 109
•
1
|
20
12512 12512
783t 8212
163
♦104«4 10512
16312 164
1211$ 1211$
10812 109
♦160
162
403* 403*
13512 13512
*391*
120
12012 120l2
126
75
♦43
126
;
153$
17
.
609
655
10
....
....
163
121
10834
*160
151$
14
19
1934
100
100
_..
Price
Week’s
est
Friday
Period
Jan. 7
Range or
Bid
Amer Strawb’d 1st 6s.1911 F » A
Armour & Co 4Vtfs
1939 J -D
Aurora Elgin&Chlc 5.1941 A - O
Cal & So Chic Ry Co
1st M 58.
1927 F
Cass Av & F G (St L) 5s ’12 J
Chic Board of Trade 4sl927 J
Chicago City Ry 5s
1927 F
Chic Consol Br & Mlt 6s
J
Chic Consol Trac 4 X& 1939 J
Chic Auditorium Ist5sl929 F
Chic Dock Co 1st 4S..1929 A
Chic Jc RR 1st M g 53.1945 M
Chic No Shore Elec 6S.1912 A
Chic Pne Tool 1st 5s.al921 J
Ohio Ry 5s__
1927
Chic Rys 4-5s series "A”
Ohio Rys 4-5s series ”B”
Chlo Rys 4-5s series “C"
Chic Rys coll 6s
1913
Chlo Rys Fund 6s. .1913
Chic Rys Tem Otfs 1st 5s
F
A
J
-
-
-
_
100
2,316 Swift*‘Co
Do rights
The
20
Quaker Oats Co—100
Do
9
pref
100
Unit Box Bd * P Co.100
_
....
Do
Do
full
paid
pref*
Do
2.638
full paid
495 Western Stone
1100
100
-
-
-
A
D
A
F
-
A
F
-
A
_
103
J
O
S
S
D
Sale
«...
...»
....
...»
....
....
....
M- a
M - N
M. - N
-
O
M- S
J - J
J - l)
M - N
J • J
J
A
M
•
-
-
J
O
N
.....
A
-
6
J’ne'09
May’07
IO3I4
103
Apr’04
60
Apr'09
9084 Jan’06
....
....
102
101
.
10212
10114
12
102*4 105
....
50
....-
....
....
....
....
101
....
....
85
Sale
50
....
....
95U
85?* Sale
....
....
101
«...
92i4
....
....
....
....
«...
....
....
1031* 103l2
102*4 103
....
100
....
....
....
....
1021* 1027*
....
....
9412
87
847*
101
95
....
....
....
....
mmmm
••••
....
84
81
96
....
941*
9534
96
97
9812
....
....
Sale
82
Bale
....
94U
....
....
....
....
1031* 10312
11041* Sale
10214
....
....
94
100
...»
70*
rTm
....
102
Sale
....
9212
81
76*2
Dec’09
Feb’06
9412
....
847*
1013*
1
37
Dec’09
86
8514
91*4 Dec’09
101
10U2
10U*
6612
6612
Dec’09
10234
Dec’09
Dec’08
96U Dec’09
96
84
16
8312
Mch’09
Dec'09
May’05
96
90i4
98*4 Dec’09
94U
9412
Mch'09
96
98
100
Nov’09
J’ne’09
Mch’09
121*4 May’09
103*4 Dec'09
1041*
10412
IO2I4
10214
10U2 Dec'09
94
94
IOOI4
10014
88
114
80
80
Nov’09
Nov'04
Dec'09
Nov’09
85l2 July’08
Commercial National
Continental National
Cook Co State Savings.
Com Exchange National
Drexel State
Drovers’ Dep
^
851*
1005* 10234
93l2
84I4
9014
8912
89
9212
1007* 1023*
10U2 1023*
10034 10212
First National
First Nat Englewood
Foreman Bros B’k’g Co.
Fort Dearborn National
Hamilton National....
Hibernian B’k’g Ass’n
Kaspar State Bank
Live Stock Exch’ge Nat
Monroe National
Nat Bank of Republic—
National City
National Produce
North Avenue State
North Side State Sav’gs
North West State
s
40
10234 10334
101
10314
6
....
5
....
....
....
....
15
10
....
12
98*4
96
s
82i4
8012
92U
86l2
8414
96l2
1013(4
1005* 1021*
102
1035*
—
—
—
.
9614
tririrwr
91
....
....
....
....
6
1
....
2
1
....
....
....
Union Stk Yards State
American Trust & Savs.
Central Trust Co of III--
Chicago Sav Bk & Tr—
98
93
99
98
IOOI4 100l2
....
Prairie National...
Prairie State
95
73
100
....
-...
People’s Stk Yds State
Railway Exchange....
Security
South Chicago Savings.
South Side State
State Bank of Chicago..
Stock Yards Savings—
Union Bank of Chicago.
....
84
807* Dec’09
100*S
....
9412
^
72
....
1027*
J’ne’08
1001*
1001*
1005* Aug’09
1026*
1025*
80
.....
July’09
Aug’08
July'08
10314 Dec’09
100
25
....
w
National.....
National.
Englewood State.
....
103
Calumet
Chicago City_
967*
_
....
N
8
D
S
Co 5s
1913 M - N
Knlck’b’ker Ioe 1st 5s.1928 A - 6
Lake St El—1st 5s—1928 J • J
Income 5s
1925 Feb
Metr W Side El—
1st 4s
1938 F - A
Extension g 4s
1938 J m J
North West El 1st 4s_19ll M - 9
No W G-L & Coke Oo 5s’28
Ogden Gas 5s
1945 M - N
Pearspns-Taft 5s
1916 J - D
A
....
100
City Ry & Light
4.40s
4.60s Series E
4.80s Series F
Peo Gas L & C 1st 6s. 1943
Refunding g 5s....1947
Chic Gas L&C 1st 5sl937
Consum Gas 1st 58.1936
Mut’l Fuel Gas l»tSsl947
South Side Elev 4 H*. 1924
Swift & Co 1st g 5s
1914
Union El (Loop) 5s..1945
Union Pacific conv 48.1911
United Box Board ool Os’26
General mtre 6s
Western Stone Co 5s..1909
....
IOU4 Oct'09
....
Feb 24
Aug 27
101
139
1* J’nelO
14 May22
May24
J’nelO
5H4 Jan 8
1
Apr 27
10
48
Deo
Nov
Nov
1334 Aug
19
54
22
Jan
May
Deo
Aug
Aug
26l2 Apr
85
Apr
71
34
103
Feb
Oct
Sep
12i4 Nov
Dec 20
May 6
May 7
May 7
Jan
Deo
62i2 Deo
46
42
Dec 13
Deo 1
Nov
J’ne
Deo
13l2
3012
4734
86i2
1514 Novl9
145
1
6
40
Jan
Not
J’no
Jan 18
Jan 21
171* Feb 25
152
Oct
121i2
251*
88i2
13034
8812
J’ly
70i4 Mch 25
117
38
43
Jan 9
Jan 26
Jan 5
20
Nov 17
977* Jan 2
H8I4 Feb 15
82
110
102
Jan 14
Jan 15
Jan 5
i2 Feb 25
65 ” Jan 5
101
Jan
5
100i2 Jan
9
6
119
5
5
Feb
Jan
98i2
5*
214
8*4
10i2
Jan 2
Feb 19
Feb 26
15
Feb 16
Mch 10
Mch 9
Jan
200
116
37
91
Apr
I28i4 Nov
Mch
Jan
63
104
Nor
Nor
100
Mar
7,
3
Dec
7612 Deo 27
68 " Apr 16
1
Apr 27
2i2 Nov 18
Dec 74
40
1
2
20
106
Sep 23
47
21
J’ne 28
119i4 Sep 27
130
Sep 21
108i2 Dec 31
113
30
38
Jan
Jan
J’ne
137
19
70
J’ne
Jan
80i2 Jan
20
97
120
87
115
106
Aug
Deo
Nor
Deo
24
72
66
102
Deo
Deo
51
91
12134 Oct 20
114I4 Aug 0
Jan
Mch
Jan
Jan
87
Aug
42i2 Deo
.I’lv
4R
J’ly
Deb
Jan
134
100
Jan
12
Jan
17
Apr
J’ly
134 Jan
h J’ly
31* Mch 2
NOV 4
Mch 15
Deo
Oct
10534 Sep
11434 Jan
15o Moh
20
25
* Mch
88i2 Jan
18
Dec 23
Dec 29
’
116
110
10134 Jan
1
Mch 20
1691* Dec 11
67i4 Deo
li* Aug
4
Apr
30l2 Aug
153
Sep
234 Feb
Jan
Jan
Novl6
II97* Aug 16
20
Nov
Dec
Jan
Deo
100
80
124
162
105
Feb
Oct
*4 Feb
7
1
Aug 2
May 19
Aug 13
Dec 28
Sep 16
103* Not
76Deo
125
Nov20
Jap 2
Jan 6
Deo 27
42
140
Feb
41i2 Jan
29
21
11
13
Mch 24
Jan 4
117
107
4
J’ne 4
22514 Oct
132
J’ly
811* Dec
112
Sep
2i* Apr 27
96
98
100
120
98
997*
1001*
122
1027* 104
10334 105
102
10234
10112 102
9312 9634
100
88
102
96
70
81
7OI4
81
Outstand¬
Surplus
ing
and
Stock
Profits
t
t
High
....
102
-
-
s
Low
93l2
....
-
OhlC R I & P RR 4S..2002. M Collat trust g 5s
1913 MChic Telephone 5s
1923 T
Commonw-Edison 5s. 1943 MChic Edison deb 6s. 1913 J 1st g 5s
July 1926 A Debenture 6s....1920 MCommonw Elect 5sM 943 M Illinois Tunnel 5s
1928 J Kan
....
NAMB
Year 1909
24
....
F
_
....
Range
for
9412
J
D
-
-
943*
Jan 14
Jan 21
64*8 Apr 21
20
_
__
46
B’ds
Sold
High No.
Mch’07
A t—- 102
J
D
A
O
S
O
J
A
O
*
100
94i2 Bale
9*4 Sep
42
86
Oct
Nov
38
20
Aug
10
119
47
28
1134 Oct
Chicago Banks and Trust Oomoanies
Last Sale
Ask Low
6i* Dec
59
25
73
61
541*
77* Jan 30
71*4 Jan 6
31* Aug
8434 J’ne
2
Deo
185
15g Feb
15
30
68
108
Highest 1
Jan
160
2914 Jan 2
52
J’ly 7
861* May 18
1912 Dec 17
Feb 15
127
_
BONDS
Inter¬
3
Jan 22
Jan 22
4534 Jan
29l4 Apr 13
Chicago Telephone...l00
_
Chicago Bond Record
EXCHANGE
Week ending Jan, 7
Feb
30
Jan 29
131* Jan 2
Deo 1
3*4 Deo 1
30 Dec 21
78
Dec 11
151* Sep 13
47
Jan 14
17
Novl7
63
Jan 6
50
Jan 25
8
1 no
100
Do rights
100 Chic Title & Trust
100
632 Commonw’th-Edison. 100
Com Prod Ref Co com
Do
do
pref
316 Diamond Match
100
100
8,837 Illinois Brick
30 Masonic Temple
Mllw & Chic Brewing....
Do pref
16 National Biscuit
100
Do
65
pref
100
236 National Carbon
100
Do
pref
100
344 People’s Gas L&Ooke.l 00
Do
rights
1,929 Sears-Roebuck com
100
183
Do
pref
100
12,012 121
Last Sale 233*
Dec’09
Last Sale 8614
Oct’09
126
126
125l2 127
75
8012
797*
81
CHICAGO STOCK
Deo 13
10i2 Dec 13
97
Lowest
15
1191* J'ly 28
977* Dec 7
Booth Fisheries com....
Do pref
Cal A'Chic Canal & D.100
Chic Brew’g & Malt’g....
Do pref—
Chic Pneumatic Tool. 100
_
100
237
20
11434
4
126
_
Last Sale 21*
June’07
Last Sale 20”
Nov’09
115
115
11612 *114 116
124
124
124
*123
124
110
112
10914 10912 111
Last Sale 1221* Dec'09
12212
114
11512
1143$ 114*2 H412
Last Sale 11-16 Mch’09
163
16412 162
16U2 16134
121
121
121
121
121
108
1 087$ 10834 10912
109
Last Sale 7
Feb'09
162
♦162
165
*163
166
105l2 100 106 *105
100
Last Sale U2
Apr*09
Last Sale 3"
Apr’09
Last Sale 734
Apr’09
14
151*
14i4
14
1234
20
20
21
1934
2112
♦18
♦110
124
♦ 108
♦120
190
100
6
Do
pref
635 Amer Telep & Teletr
Booth (A) & Co
Do
pref
148
46
10514 10514 ♦104*4
15
18
*144
Mch 8
30
<i«08>.
Highest
1I2 Oct 22
5
Oct 21
200
....
3934
40
135l2 13512
Last Sale 214
Mch’08
145
180
100
100
Radiator.. 100
American
Do
pref
222 Amer Shipbuilding
«...
4012
145
801*
828
13512 13512
145
i
151$
10l2
64
Nov’09
Nov’09
145
120
1
1
*51
Last Sale 1
Last Sale 21*
5394
ns
3
1
125U 1251s
82
85l2
♦43
3834
73l2
Range for Previous Yeas
Miscellaneous
625 American Can
Do
pref
13l4
37
73
73
64
♦1
♦2
»
«
«...
.
61
108
131*
39
73l2
5334
38l2
73
1
!
1
1314
Northwestern Elev...100
....
.
3934
73
♦52
4012
137
131*
Lowest
....
81
80t2
8034
8H4
Last Sale 2251* Oct’09
133
Last Sale 130
Dec’09
77
*78
80
781* 783* ♦78
114
11U2 11U2 ♦111
*11112 11U2
140
14034 14012 14012 *139l2 141
Last Sale >*
June’09
Last Sale i4
June’09
U*
137
131?
8U4
81
♦214
♦130
Range lor
Year 1909
Railroads
Chicago City Ry
100
65 Chicago & Oak Park
100
20
Do
pref
100
41 Chic Rys part ctf “1”
1,488 Chlo Rys part ctf “2”
Chic Rys part ctf “3”
12 Chic Rys part ctf ”4”__
315 Chicago Subway
100
300 Kans City Ry & Lt_.100
10
Do
pref
^.100
200 Metropol W S Elev
100
131
Do
pref
100
1
f•
STOCKS
CHICAGO STOCK
EXCHANGE
of the
Monday
Chicago Title & Trust—
Citizens’Trust & Savings
Colonial Trust & Savings
Drovers’ Trust& Savings
Farwell
On
First Trust & Savings..
Guarantee Trust & Sav.
Harris Trust & Savings.
Illinois Trust & Savings
Kenwood Trust & Savgs
Lake View Trust &Savgs
Merchants* Loan&Tr Co
Metro polltanTrust&Sav
Northern Trust Co
North-Western Tr&Sav.
People's Tr & Savgs..
Pullman Trust * Savgs.
s
Sheridan Tr * Sav Bank
Stockmen's Trust & Sav
*100,000
600,000
7,000,000
9,000,000
50,000
3,000.000
200,000
600,000
200,000
8,000,000
150,000
1,000,000
1,000,000
600,000
1,500,000
200,000
1,250,000
300,000
2,000.000
1,500,000
250,000
200,000
50,000
200,000
300,000
250,000
500,000
250,000
300.000
200,000
200.000
1,500,000
250,000
200,000
200,000
3,000,000
2,000,000
U500.000
5,000,000
60,000
600,000
200,000
1 600 000
2,000,000
200,000
In
1908
($39,068
6
207,686
3,382.172
4,919,686
10
t/12
8
6
12
6
9.177
5.310.1S3
29,247
382.087
32,093
8,254,451
167,011
663,618
377,987
157.069
837.615
132,458
9V4
In
1909
Per¬
CD
An
Deo
’08, 6
10
ull
8
None
12
9
10
6
12
J-J
.Tan
*10 5
Jan
Jan
'lo‘,
2
Q-J
'10, 21g
Q-M Dec31*08,11*
Q-J Jan '10,4
A-O Oct
'09, 5
Q-J Jan '10, 21*
Q-J Jan '10, H*
Q-M Dec 31*09,4
Q-M Sep30'09, 21*
_
_
_
-
209 387
3
12
3,083,548
1,500,000
2,160,762
i!ooo!ooo
%
467.289
64.091
1,153,655
500.725
69.079
66.637
18,797
10,827
65.305 Beg. b us. No v’09 V.89, p.1320
74,831
60,221
8
6
Q-M Dec31’09,U*
2
15,702
None
Jan '08, 2 ”
160,920
IX
Dec31’09,U*
6
6
80,000
Q-j Jan '10, H*
5,613 Beg. b us. Sep t.*09 V. 89, p. 817
11
12
1,657,135
Q-J Jan 'i0, 3
7
8
177,356
Q-M Dec31'09,2
6
37,761
0
M-N Nov '09, 3
6
68,449
6
Q-J Oct *09,11*
8
81.834
6
Q-J July '09, 2
7
7
841,740
Q-J Jan '09,1*4
103,691
6
1H
Q-J Jan TO, H*
6
rl,373,397
6
Q-J Jan TO, H*
4
4
A-O Oct '09,2
6,959
507,056 8+2
8+2
Q-J Jan TO, 21*
7M
8
103,069
Q-J Jan TO, 2
1,250,000
5,000,000
200,000
200,000
3,000,000
750,000
200,000
200,000
500,000
200,000
200,000
Last Paid
iod
6
12
10
(?)
Prlv ate Ba nk
8
8
Q-J Dec31’09,2
6
6
J-J Dec31’09,21*
8
8
Q-J Dec31'09.2
10
10
J-J Jan '10, 20
10 + 2
10
Q-M Dec31'09,21*
4
4
Q-F Nov 1 '09.1
8
8
Q-J Dec31'09,2
3
6
Q-J Jan '10. H*
3
Q-J Dec31'09,l
Q-J Jan '10, H*
6
6
Q-J Jan '10, U*
14,813 Incorp orated
6
1,167.360
9X
8,460,043 16 + 4 16 + 4
6
6H
55,512
30,747
5
4H
12
5,301.263
12
6
262,643
(?)
1 200 OO0
Western Trust & Savings
West Side Tr&Sav Bank
Woodlawn Tr&SavBank
Dividend Record
8
6
67,670
6
90.052
8
189,967
24,974 Rpg. h
5
32,138
1 077 943
210[833
g
6
8
6
10
8
1m
Q-J
*no
iia
1908
V.87,p.1138
T0.71*
TO, 4
Q-J
TO, 1*4
Q-J
TO, U4
Q-J
'10,3
Q-J Jan
Q-J
Q-J
Jan
Jan
Jan
Jan
Jan
Jan
J-J
July '09, 3
q
Q-J Oct
Q-J Jan
J’ly 12'0
5
opt.
Q-M Dec31'09, 4
TO; U*
'10,2
'09,2
TO.'2
9 V RQ
n
141
J-J
Jan TO. 21*
jtg+2 Q-M Dec31’09 2
6
Q-J Jan TO, 11*
busine ssSe pt 5 1908
6
Q-J Jan TO, 11*
200,000
76,164 Began
Interest must be added to all Chicago b ond prices.
39.239
200.000
6
Bid &nd asked prices; no sales were made on tills day.
tiNov. 16 (close of business) for national banks and Nov. 17 (opening of
business) for State
Institutions,
t No price Friday; latest price this week, a Due Dec. 31. b Due
June,
k Also 20% In stock,
n Capital and surplus to be Increased.
£ Dividends are paid Q-J, with extra payments Q-F.
r As of date April 29 1909.
s Union Stock Yards State Bank and People’s Trust &
Savings
Bank consolidated under name of People’s Stock Yards State Bank. V.
89, p. 1320.
t As of date Sept 1 1909.
u Stock increased in 1909.
Note.—Accrued
•
-
(
THE CHRONICLE
Jan. 8 1910J
Volume ol Business at Stock
Electric Companies
Bid
Co—See Chi sago
130
* 92
60
100
Preferred
75
75
United Elec of N J...100
80
1st g 4s 1949
J-D
Eicaanges
Chic
Week ending
Jan. 7 1910.
Railroad,
4
dkc..
Shares.
Par value.
Bonds.
State
V. s.
Bonds.
Bonds.
Telegraph and Telephone
e
Saturday
Monday
Tnesday
Wednesday
Thursday...........
....
Friday
.............
Total
$4,095,000
5,073,500
4.918.500
3.459.500
3.648,000
$97,500
202.500
189.500
299.500
173.500
5,200,763 $485,539,550
$21,194,500’
$962,500
Week ending Jan. 7.
Exchange.
1910.
1910.
Stocks—No. shares
5,200,763
6,049,682
Par value
$485,539,550 $551,096,325
Bank shares, par
$20,700
$2,500
Bonds.
Government bonds...
$20,000
State bonds
962,500
$611,500
RR. and misc. bonds..
21.194,500
35,305.500
Total bonds
$22,177,000
Emp & Bay State Tel. 100
Franklin
100
e Gold & Stock Teleg. 100
N Y & NJ Teleph—See Stk
e Northwestern Teleg. 50
25
$25,000 Pacific & Atlantic
Southern & Atlantic
25
4,000
20,000
Jan. 1 to Jan. 7.
1909.
Ferry Companies
$20,000
962,500
21,194,500
$22,177,000
$35,917,000
DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
EXCHANGES.
Boston.
Week ending
Jan. 7 1910.
Listed
shares.
Saturday
Monday............
Tuesday
Wednesday..
Thursday
Friday
Philadelphia.
Unlisted
shares.
Bond
sales.
Listed
shares.
HOLI DAY
.
41,484
33,991
30,617
34,946
42,995
44,217
184,033
...
.........—
Total
Unlisted
shares.
Bond
sales.
...
45,529
26,758
28,100
25,666
42.503
13,791
22,933
9,505
13,749
12,649
$79,600
46,997
32,851
31,721
$136,500
96,500
67,000
112,800
69,000
204,928
$471,800
168.556
72.627
$326,700
49.142
40,300
55.200
75.200
76,400
Outside Securities
All bond prices
now
are
Street Railways
New York CUy
Bleeck St & Ful F stk.100
• 1st mtge.4s I960.J-J
9
“and interest” except where
Bid
B’y & 7th Ave stk__100
2d mtge 5s 1914._J-J
Con 5s 1943—See Stock
•
15
60
140
9912
Exc
102
gu 1924
• Cent’l Crosst’n stk..100
e 1st mtge 6s 1922.M-N / 80
9 Cen Pk N & E R stk.100
30
9 Chr’t’r & 10th St stk 100
80
Col & 9th Ave 5s See Stock Exc
B’way Surf 1st 5s
Ask
22
70
145
1st 5s 1921
A-O
J C Hob & Paterson—
4s
g
M-N
1949
So J Gas El & Trac.lOO
Gu g 5s 1953
M-S
No Hud Co Ry 6s’14 J-J
5s
Bid
240
106
250
79
145
100
102
103
99
118
100
80
147
Exc
Ninth Avenue stock. .100 160
Second Avenue stock.100
14
• IstM 5s’09 eit ’10 M-N
96
Consol 5s 1948
F-A / 60
Sixth Avenue stock
100 120
Sou Boulev 5s 1945
J-J
60
So Fer 1st 5s 1919...A-O
88
Third Avenue—See Stock Exc
Tarry YV P & M 5s 1928 / 60
YkersStRRSs 1946 A-O
85
28th & 29th Sts 5s ’96 A-O /
9 Twenty-third St stk.100
200
Union Ry 1st 5s 1943.F-A IOOI4
Westchest 1st 5s ’43 J-J
60
Brooklyn
Atlan Avenue RR—
Con 5s g 1931
98
A-O
B B & W E 5s 1933..A-0
97
....
Brooklyn City Stock. 10
_
196
Con 5s—See Stk Exch ange
Bkln Hgts 1st 5s 1941 A-O
97
Bkln Queens Co & Sub—
98
’41 op ’16.J-J
5s—See Stock Exc
Bklyn Rap Tran—See Stk Exc
65
Coney Isl & Bklyn__100
1st cons g 4s 1948..J-J
78
Con g 4s 1955
75
J-J
Brk 0 & N 5s 1939.J-J
95
Gr’p’t&LorSt 1st 6s__M-N
Kings C El 4s—See Stock Exc
Nassau Elec pref
100
1st g 5s
Con guar
•
N
5s 1044
A-O
1st 4s 1951—See Stock
W’bg & Flat 1st ex 4 Hs
Btelnway 1st 6s 1922
J-J
103“
list
170
18
100
65
130
85
92
list
80
95
20
250
101*2
75
101
100
198
list
102
10012
list
list
75
82
85
100
list
Exc
90
102
105
list
95
107
105
107
106
108
Other Cities
Buffalo Street Ry—
1st consol 5s 1931
Deb 6s 1917
F-A
A-O
Columbus (O) St Ry_-100
95*4
Preferred
100 104
Colum Ry con 5s—See Phi la list
Crosst’wn 1st 5s ’33 J-D 102
• Conn Ry & Ltg com. 100
76
• Preferred
100
82
1st & ref 4
—See Stk EXC
Grand Rapids Ry
10°
Preferred
100
90
pLoulsv St 5s 1930...J-J 106
Lynn A Bos 1st 5s ’24 J-D 105
• New Orl Rys & Lgt.100
28*8
-
105
106
78
85
list
118
107*2
107
2834
Preferred
100
64
6414
Gen M g 4 Ha ’35—See S tk Ex list
Pub Serv Corp of N J.100 124
126
Tr ctfs 2% to 6%perpet
l04i2 105t2
North Jersey St Ry.100
50
w
New’k PasRy 5s *30 J-J
•
Per share,
a
Ex-rlghts.
8J
77
104
108
Brooklyn Un Gas—SeeStk
Buffalo City Gas stk. .100
1st 5s 1947—See Stock
Con Gas of N J 5s ‘36.J-J
Consumers' L H & Pow—
5s 1938
J-D
Denver Gas & Elec... 100
Gen g 5s 1949 op.M-N
Elizabeth Gas Lt Co.-100
Essex & Hudson Gas. 100
Gas & El Bergen Co.-100
e Gr Rap. 1st 5s ’15.F-A
Gr’t West Pow 5s ’46.J-J
Hudson Co Gas
100
Indiana Lighting Co. .100
4s 1958 op
F-A
105
101
120
105
102
20X2
7034
list
list
82'
78
104X2
...
109
b Basis,
101
105
99
42
101
97
n40
n65
102
10312
.
•
Exc
8 f 5s 1936—See Stock
American Book.
100 155
American Brass
100 118
American Chicle com. 100 230
Preferred
100 104
Am Graphophone com 100
13
Preferred
100
33
Amer Hardware
100 140
Am Malting 6s 1914
J-D 103
Amer Press Assoc'n
100
92
Am Soda Fount com
100
*8
1st preferred
25
100
2d preferred
2
100
Am St Found new—See S tk Ex
6s 1935
A-O 103*2
Deb 4s 1923
F-A
7512
100
55
80
106
46
45
305
108l2 110
27l2
69
114’
93
105
130
100
106
110
55
90
93
101
93lo
Amer Typefders com. 100
46
Pref erf ed
100
99
Deb g 6s 1939
99
M-N
Amer Writing Paper
100
2*4
Preferred
100
2412
1st s f g 5s ’19 op '09 J-J
87
AtlGf & YVIndSSLlnes. 100
10*8
Preferred
100
27*4
Col tr g 5s 1959
J-J / 7278
Barney & Smith Car.. 100 n40
Preferred .s.
100 105
Bethl’m Steel Corp—See S tk Ex
Bliss Company com.. 50 140
Preferred
50 135
Bond & Mtge Guar
100 267*2
Borden’s Cond Milk.. 100 120
Preferred
100 104
h
100
list
6
list
95
_
,
155
9i42
154
85
102
96
152
29
71
30
90
_
British Col Copper
5
Butte Coalition Mining 15
Casein Co of Am com. 100
Preferred
100
Casualty Co of Amer..100
100
021* Celluloid Co
Cent
Fireworks com.. 100
114*8
Preferred
100
Central Foundry...
100
Preferred
100
Deb 6s 1919 op ’01 .M-N
98
109
132
101
107
—
—
81
tt
_
Chesebrough Mfg Co-_100
City Investing Co..._100
Preferred
Un
56
91
96
«
381?
58
com
100
100
1st preferred
100
2d preferred
100
Col & Hock Coal&I pf 100
1st g 5s 1917
J-J
Col tr 6s Oct 1956..J-J
•
95
57
(H B)
«
10212
37X2
Claflln
Consol Car Heating...100
Cons Ry Lgt & Refrlg.100
Sells on Stk. Ex., but not very active.
J Flat price.
nNom,
s
100
4s 1951
.A-O
77
120
116
e
Preferred
Gold 4H3 1936
1st M
100
J-D
s
f g 5s 1956.J-D
list
Preferred
70
93
.100
Preferred
100
General Chemical
100
e Preferred
100
Goldfield Consol Mines. 10
Gold Hill Copper (w 1)
Greene-Cananea
20
96
37
65
100
107
100
_
Guggenheim Explor’n 100
——
IOOI4
97*8
Houston Oil.......
100
Preferred
100
101
Hudson Realty
100
e Ingersoll-Rand com.100
• Preferred
104X4
100
98
Intemat’l Bank’g Co. 100
10018 Internat’l Mer Mar—See S
100*8 International Nickel
100
100i8
Preferred
100
1st
9934
g 5s 1932
A-O
100i8 International Salt
100
4.15
1st g 5s 1951
A-O
102
International Silver
100
10012
Preferred
100
1st 6s 1948
100*8
J-D
Internat
99l2
Smelt & Refg 100
97
Internat Time Record. 100
100X8
Preferred
loo
10178 Jones & Laughlin Steel Co
101
1st, s f g 5s 1939 M-N
Lackawanna Steel
100
Lanst Monot’pe (new) 100
3512 Lawyers’ Mtge Co
100
72*2 e Leh & Wllkes-B Coal 50
Lord & Taylor
100
5
9334
225
120
list
Preferred
100
e Loriliard (P) pref
100
Madison Sq Garden
100
2d 6s 1919.
.M-N
Manhattan Transit
20
Monongahela R Coal.. 50
Preferred
50
Mortgage Bond Co
100
Nat Bank of Cuba.
100
Nat’l Surety
100
Nevada Cons’d Copper
5
Nev-Utah Min & Sm_ 10
e New Central Coal
20
NY Air Brake 6s—See Stk
N Y Biscuit 6s 1911.M-S
e New York Dock
100
e Preferred
100
N Y Mtge & Security. 100
N Y Transportation
20
Niles-Bem-Pond com.100
Niplssing Mines
5
e Ontario Silver
100
Otis Elevator com
100
Preferred
100
Pittsburgh Brewing.
Preferred
121
235
106
14
35
145
105
35
6
list
50
102
3
20
_34'
23
Exo
08
17l2
92i2
25
list
IS
93
126
138
88
S3
•
e
Econ’y Lt & P (Joliet, Ill)
—-t-—
Ask
2
Steamship Lines—
Coll tr 4s 1957 rets..J-J
< orn Prod Ref—See Stock
.< Crucible Steel
100
e Preferred
100
_
50
135
87
8712
95
27
68
7
80
93
98
30
To“
10212
*7*2
100
Realty Assoc (Bklyn).lOO
Royal Bak Powd com. 100
—
Preferred
100
Safety Car Heat & Lt.100
Seneca Mining
25
Singer Mfg Co
100
South Iron & S
com
;
100
Preferred
100
7*8
1*4
11*4
*1H8
245
250
45
6
10
63
90
55
8
20
68
105
30
109
40
8712
9978
818
39*4
100
100
90
95
140
k Ex
150
91
93
5
40
20
102
110
130
65
99
110
*
....
63
9434
240
8*2
4034
——
145
list
155
93
94
8
46
30
105
160
75
103
101*4
65
95
244
200
100
98
130
110
103
421?
85
60
100
*2*s
2*4
10
l
*25*4
110
99
215
26*4
115
10U2
—
*261?
*l7ifl
30
Exc
100
37
82
225
*6
102
—
—
2634
1*2
70
list
—
-
—•
40
83*2
235
7
105
1018
234
54
99
103a
3
57
101
*23
23*8
•42*4
Pittsburgh Coal—Sea Stk Exc
100
Pope Mfg Co com
79
100
Preferred.,..
85
Pratt & Whitney pref. 100 100
Producers Oil
90
95
105
*1*2
50
Preferred
105l2
100
77*2 Standard Cordage_.__100
2221* 227*2
1st M g 5s ’31 red.A-O
5*4
*4*4
Adjust M 5s Apr 1 1931
420
425
Standard Coupler com 100
American Surety
50
American Thread pref
5
Am Tobacco Co com. .100
*45
*44
301
110
1594
300
152
81
99
93
150
....
434
4*2
97l2 102
Industrial and Miscel.
8612
Adams Exp g 4s 1947 J-D / 93
Ah meek Mining
25 *220
Alliance Rea ty
100 115
Allis-Chalmers Co 1st mtg
100
103
96
32
Exc
4
EXC
92
on
-
4312
9112
*4
Debenture
80
Bid
Rubber Tire. .100
Preferred
1950 (w 1)—See Stock Exc list
Nat Rys of Mexico—See S t Exc list
North’n Securities Stubs.
97
103
Pitts Bess & L E
50 *33l2 36
Preferred
50 *69
73
• Railroad Securities Co—
Ill C stk tr ctfs ser A’ 52
90
Seaboard Company—
1st preferred
80i,
78
100
Com & 2d pref—See Bal t Exc list
Seaboard Air Line—
Coll 5s ext May ’ll.M-S
99
99*2
West Pac 1st 5s ’33-.M-S
97*2 97*4
list
148
19I2
50
80
A-O
*37. A-O / 88
1st g 5s 1952
Jackson Gas 5s g
• Laclede Gas
100
• Preferred
100
Madison Gas 6s 1926. A-O
Newark Gas 6s 1944-_Q-J
Newark Consol Gas-.lOO
• Con g 5s 1948-..J-D
No Hudson L H & Pow—
5s 1938
...A-O
Pacific Gas & E, com. 100
Preferred
100
Pat & Pas Gas & Elec. 100
• Con g 5s 1949...M-S
St Joseph Gas 5s 1937.J-J
Western Power com. 100
Preferred
100
....
100
Ft W & Den Cy std_-100
Kansas City Sou 5s Apr 1
102
list
160
10114
Exc
Bay State Gas
50
Blngh’ton (N Y) Gas Wks
1st g 5s 1938
A-O
Indianapolis Gas
•
1st 4s 1948
M-N
Cons Tract of N J..100
1st 5s 1933
J-D
Other Cities
Am Gas & Elec com.. 50
50
Preferred
Amer Light & Tract. .100
100
Preferred
35
ctfs 100
e Preferred tr ctfs
72
100
Chic Peo & St L—
Prior lien g4 Hs’30_ M-S / 88
Con mtg g 5s 1930..J-J 1 50
Income 5s, July 1930.. t
com tr
10012 Chicago Subway
Gas Securities
New York
Cent Un Gas 5s 1927 _J-J
Con Gas (N Y)—See Stk
100
e Mutual Gas
New Amsterdam Gas—
1st consol 5s 1948..J-J
NY&ERGas 1st 5s ’44 J-J
Consol 5s 1945
J-J
N Y & Richmond Gas. 100
NY dcWestchesterL’ht’g—
Deb g 5s 1954 guar.J-J
Nor Un 1st 5s 1927..M-N
• Standard Gas com. .100
• Preferred
100
1st 5s 1930
M-N
997g
1013*
100X4
Railroad
„
...
Metropol St Ry—See Stk
South Ry g 5s 1910..F-A
Tidewater 6s, 1913. guar
Westingh’e El&M 6s 1910
Ask
Industrial and Miscel.
onsol
Hackensack Water Co
Ref g 4s ’52 op ’12..J-J
Hall Signal Co com. .100
72
Havana Tobacco Co
100
40
Preferred
100
1st g 5s June 1 ’22.J-D
Hecker-Jones-Jewell Mill
1st 6s 1922
M-S
98
9812 Her’g-Hall-Mar, new.100
Hoboken
97*8
Land
96*4
& Imp 100
100
e 5s 1910
100*8
M-N
Short-Term Notes
eChlc GtYV
1928..
J-J
Ext 5s 1924
M-N
Pat City con 6s ’31. J-D
2d 6s opt 1914._A-0
list
So Side El (Chic)—See Ch icago
Dry D E B & B—
e 1st gold 5s 1932..J-D
Syracuse R T 5s ’46..M-S 103
97l2 100
• Scrip 5s 1914
Trent P & H 5s 1943.J-D 100
50
F-A / 45
United Rys of St L—
Eighth Avenue stock. 100 250 300
• Scrip
Com vot tr ctfs.__.100
100
20
6s 1914...F-A / 95
• Preferred
9 42d & Gr St F’y stk.100 200
100
220
7012
42d St M & St N Ave. 100
Gen 4s 1934—See Stock Exc
• 1st mtge Gs 1910.M-S
9912 IOOI4 UnitRys San Fran See Stk Exc
2d income 6s 1915.J-J 1 60
Wash Ry & El Co
42
100
Inter-Met—See Stk Exch ange list
Preferred
100
90
Lex Av & PavF 5s See Stk Exc list
4s 1951.
J-D
86
95
50
90
30
60
97
105
97
4j
67
35
101
Am Cig ser A 4s T1..M S
Ser B 4s Mch 15 '12 M-S
Atlan Coast L 5s ’10.M-S
Bethleh Steel 6s '14..M-N
99*4
Cln Ham & D 4s 1913.J-J
96*4
C C C & St L 5s. June *11 100*8
Erie 6s, Apr 8 1911
A-O
Interb R T g 6s 1911.M-N 108*4
K C Ry&Light 6s ’12.M “
97
Lack Steel 5s g 1910.M-S
99*4
Lake Sh & M So 5s *10 F-A
«978
Mich Cent 5s 1910.._F-A
9978
Minn & St L g 5s ’ll.F-A
9914
N Y Cent 5s 1910
F-A
9978
NYC Lines Eqp 5s ’10-27 64.40
N Y N H 4 H 5s *10-’12 100
Norf & West 5s 1910.M-N 100i8
Pa RR 5s Mch 15 ’10.M-S 100
St L & San Fr g 5s ’ll. J-J
99
96
4 h%g notes’12op. F-A
marked *‘f,’
Street Railways
Pub Serv Corp N J {Con)
Rapid Tran St Ry__100
101
list
105
94
B & N Y 1st 6s 1911.J-J
N Y & E R Ferry stk.100
1st 5s 1922
M-N
6,049.682 NY&Hob 5s
May ’46.J-D
$551,096,325
Hob Fy 1st 5s 1946 M-N
$2,500 N Y & N
J 5s 1946
J-J
10th & 23d Sts Ferry.100
1st mtge 5s 1919
J-D
$611,600 e Union
Ferry stock
100
35,305,500
e 1st 5s 1920
M-N
1909.
5,200,763
$485,539,550
$20,700
$35,917,000
70
116
108
65
45
105
Exc
105
65
90
Teleg & Cable. 100
e
887,584,100
107,539.450
119,599.850
90,185.200
80.650,950
Sales at
New York Stock
Amer
Ask
list
132
94
70
*
Central & So Amer. .100
$1,000 Comm’l Un Tel (N Y)_ 25
HOLI DAY.
945,966
1,124,486
1,275,976
965,523
888,812
.....
Edison
Kings Co El L&P Co 100
Narragan (Prov) El Co.50
NY &Q El L &Pow Co 100
e
TRANSACTION a AT THE NEW YORK STOCK EXCHANQE
DAILY. WEEKLY AND YEARLY.
suocks.
09
150
133
165
108
133
list
83
90
105
100
137
175
111
136
495
23
52
500
24
56
*2
!*2
20
25
/3
5
20
100
Standard Milling Co..100
1958
100
Preferred
100
57*2
3*2
1st 5s 1930..
83
M-N
2612 Standard Oil of N J..100 658
88*2 Swift & Co—See Bost Stk Exc
11*4
1st 5s 1910-1914...J-J 100
28
Texas Company
100 220
73
e Texas «Sc Pacific Coal 100
95
45
Title Ins Co of N Y
100 153
120
Tonopah Min (Nevada) 1
*o7g
list
Trenton Potteries com 100
5
65
Preferred, new
100
Trow Directory
27
100
Union Typewriter com 100
62
122"
1st preferred
100 110
107
2d preferred
100 1112
*8*8
8*8 United Bk Note Corp. 50 *50
*27*4 28
Preferred
50 *5212
2
3
United Cigar Mfrs
100
91*2
62
70
• Preferred
100 110
125
140
United Copper
100
812
130
133
Preferred
21
100
n5
7
U S Casualty
100 215
n53
60
U S Envelope com
50
100
2
3
Preferred
100 112
14
10
U S Finishing
100 130
72
68
Preferred
100 110
600 ’
U S Steel Corporation—
65"
62
Col tr s f 5s *51 opt ’ll 114*2
102
99
Col tr s f 5s *51 not opt 11412
110
118
U S Tit Gu & Indem._100
98
92
•Utah Copper Co—See Stk Exo
94
Waterou
Co com
100
80
95'
Preferred
100
91
95
Westchester & Bronx Tit
100
104
& Mtge Guar
100 165
27
32
Westingh’se Air Brake. 50 *
YVest El & Mfg 5s—SeeStk Exc
30
20*2
5812
86
665
list
230
105
158
7
10
65
30
66
114
114
52
51
92
111
9
30
....
-
116
140
115
60
list
,
Sale price.
170
1461,
list*
Worthing Pump pref. 100 108 1112
y Ex-rights.
• New stock.
* Ex-dlv.
BOSTON STOCK EXCHANGE-Stock Record. Baitv. Weekly and Yearly
BRAHE PRICES—NOT PER CENTUM PRICES
Saturday
Monday
Jan. 1
Tuesday
Jan. 3
Jan. 4
.
Wednesday
Thursday
Friday
Jan. 5
Jan. 0
Jan. 1
t
Sales
of the
Week
Shares
Lowest
104
104
136
225
?
I
,
*10
48
1
l
....
122
122% *122%
103% 103% 104%
232
232
232
13>% 186'
135%
29/
16
*15
*74
*10
*47
11
48
232
136*4
225
147
'....
....
<*
297
16
16
*74
123
230
136
225
146
135% 136%,
225
143
148
147% 1471.
|:
1
,
136
225
*
123
23012 231
«...
ft
122
*.'03% 1041* *103% 194%
229% 23Q
fj
1
.
m
123% 123V
I
*15
76
*10
*47
11
48
16
75
11
48
_
117
1:
*
___
....
117
mmmmm
....
t
117l2 118
,
....
►
;
•
133’%
133
104
*
!■
•
104
*87%
i
i
18%
79
\
132
104
104
*87%
....
19
80*/
18%
80
158
.
158% 1581;
195
35
*—
104
•
1
1
18
80
18?S
80
1581:
\
1!
|
167% 158%
94
'
1!
r
‘
_
94
M
156%
157V
Aug’O's
Dec’OS
200
....
116
94
106
1055g 106
47%
103
7°3
94%
107
48
48%
103
■
140% 1417£
t
37
103
*36
103
»•
1
20
122
f ,'•%
12o%
121% 122
|
i
»<
[I
37
1031*
*7%
144
*71
»
115%
104V
200%
103%
I
9; 4
215
*■
1
1
2%
120%
111%
}
1
i
137
*—. 100
190
189
*
ft!
•
101
Q
*27
2*
29
70
88%
1243*
16%
70%
301*
90%
125%
17
94
94
30%
fe
*
*36
103
ieo
33
33
3/
103%
8%
29
3034
£3
123%
16%
£3%
47
47%
101% 103
713*
11%
247%
159%
827*
7%
2o%
122
11%
124
112
137
100
190
70
30%
87%
30%
89%
123% 124
17
17
93%
122
11%
247%
160%
82%
95%
11%
95
215
*2%
3
123% 123%
215%l
*2%
122%
%
123
112
112%
137
137
*98
101
190
190
La*l Sali
>112%
247
215
95
113%
137
137
191
191
11% Dec 09
108% 108% 108% 1091*
34% 34% *33J2
34%
27% 2/1
*27%
29
Last Sale 1%
Dec-09
167% ie/% 167% 168
68% 69
63%
69%
30% 301?
80%
30*4
....
93%
21
121*4
15.%
81%
159
82
95
215
95
69
7%
♦20
2u%
122
11%
247%
151%
82
247
167% 168
7034
31
89*4
12v3;
IT:
94
87% 83%
87
124
17
12312 123%
16% 18
*93% 94
88
124
17
93%
94
6%
fj
1
*.80
ft
*11
*.60
*■
t
ft
Si
g
ll
11%
»•
32%
5i2
1
1
1:
ft
i:
ii
i
»?
ft
*
1
1
1
i
1
286:
10
73%
18
(» *
!
•
•
•
<
1
1
1
1
1
1
.96
*4%
27%
28%
7
7
68%
.05
,
675
37%
*.10
13*
18
32%
rt5%
27%
10
70*4
107*
•>
*6
.99
4%
28%
*7
*
68%
.05
101*
164
21
90
2%
17%
64%
10%
*16%
8J4
85
55
166
21%
91%
234
18
65%
17%
16%
83*
*
*54
164
21%
22
22%
27%
12%
2%
91
.80
22
27%
83%
*8%
12%
1%
17%
11%
110
*5%
27%
5%
27%
10%
€0%
5’g
28
11
71
27%
18%
16%
5
C
«...
26%
10%
46
8
*
85
53%
90
>
.75
*434
27%
7
66
.05
2634
10%
48%
8%
53%
90
23%
2%
17%
ll]4
63% 04
2%
17%
16
78
62
16
16
75
78
11
63%
16%
2%
10%
113*
10%
1034
10%
10%
10%
37%
54
53
5
37%
37%
53%
37%
52%
5212
4534
6934
45
37%
64%
62%
47*
45%
58%
6
123g
53%
5%
47*
46
59%
4*4
12%
150
46
60%
6
59
b
&
150
150
10%
64
62%
4%
68%
4%
12
146
•
2%
27*
*2%
234
2%
Before pay't of assesses called in 1909.
147
5%
.99
5
27%
7
Connecticut River...100
98
Jan 13
1251* Oct
2
67% Feb
J’ne 7
83% Mch
18112 Jan
10934 Jan 15
106
225
23914 Apr 8
Jan
4
124% Jan 7
223% Deo 16
13212 Jan 2
Feb 26
Sep 14
1134 Jan 2
60% Jan 5
Jau 25
NOV I
Jan
Jan
Jan 15
9
3
162
123
J’ne23
J’ly 6
173
Mch 5
1421* Mch 25
275 Mch 10
136
Feb 5
103
Dec 22
88t* SeD 15
_
100
3314 Jan 2
10'
94
Jan 18
5.
5% Jan 26
5o
Jan 13
13
100 rll4
Nov30
Do
307
pref
100 2:117
NovJO
8,900 Amer Telep & Tel eg.. 100 125L Feb 1
American
40
Woolen....100
2712 Feb 4
Do
887
pref
100
9312 Jan 15
Boston Land
10
334 Apr 1
“40 Cumb Telep & Tel eg. 100 125 Jan 25
Dominion Iron & Steel..
181* Jan 11
‘970 East Boston Land
7“Jan 4
897 Edison Elec Ii’um
100 245
Jan 2
202 General Electric
100 150% Feb 24
1,719 MassachusettsGasCos 100
59
Jan 5
Do
1,723
89
Jan 5
pref
...100
156 Mergenthaler Lino... 100 2021* Mch 12
10 Mexican Telephone
10
2
Jan 5
454 N E Cotton Yarn....100
68
Apr 24
Do
126
pref
.100
Jan 2
93
91 N E Telephone
100 126*4 Jan 5
32 Pacific Coast Power
100
75
Feb 6
100 168
411 Pullman Co...
Jan 30
Reece Button-Hole.. 10
9*4 Jan 11
Swift
&
Co
*719
.,100 100 Jan 9
480 Torrington, Class A
25
20% May2i
Do
10
pref.
25
24U Jan 29
Union Cop L’d & M’g. 25
1
Jan 26
418 United Fruit..
....100 12612 Jan 13
Un
Shoe Mach Corp.. 25 x54
4,391
Meh 19
Do
270
pref......... 25
28*2 Jan 11
U
S
Sted
Corp ■_
.ieo
>1,968
41*4 Feb 24
Do
494
pref.........100 107 Feb 23
1.351 West Telep & Teleg_.100
6i« Jan ll
Do
118
...100
pref.,
76 Mch 3
Apr 3
Jan
Feb
7712NOV 4
14% Mch 12
5514 Oct /
“ MaylO
4612 Deo 24
10
143
115
170
139
267
Dec 30
Mch 19
Nov 4
135
235
153
160
301
22
151
295
19514 Jan 13
19
84
1747* J’nel4
149
215
Aug 9
Sep 2
2001* Jan 18
40
J’ne 6
1171* Aug 16
107
Aug 31
16!S
26%
*5
11%
♦148
234
Bid
478
46
58%
59V
5%
12%
149
2%
17%
65
16%
16%
76
10
53%
4%
45
2%
16%
15%
37%
63%
77
10V
Dec’09
37%
54
52
52
434
44%
478
44%
69
*43.4
69
*149
150
2V
2%
,
4,765 Bos&CorbCap ASH Mg
4,599 Butte Coalition
1,195 Calumet A Arizona..
38 Calumet A Beefa—.
815 Centennial
Cons Mercur Gold...
Elm River
1
-
Granby Consolidated. 100
Greene Cananea
20
Hancock Consolidated 25
Helvetia
Copper——1,193
1,320 Isle Royale (Copper).
2,042 Kerr Lake...
19,159 Lake Copper.....
3,306 La Salle Copper.....
1,780 Mass Consol....
47. Oct 28
84
Jan 29
65
Feb 26
Mch2?
23
„
381*
30
.30
8
.45
Feb 26
Feb 26
Dee 14
J'lT 16
Feb 16
10*1 Meh 15
171* J'ly 14
21% Feb 24
96I4 May 3
585 Feb 26
29
Feb 1
.10
J'ne2i,
68*2 Feb 2c
71* May 28
71* Feb 1
1
Oct 29
13
Feb 25
7% J’ne 16
90 * Feb 26
9
Feb 26
8I4 Sep 10
51* Deo 23
221* Apr 2,
71* Apr 30
Jan 30
16
10*4 J’ly m
414 Meh 18
590 Mayflower
.30
Apr 29
505 Mexico Cobs M A S._
3i2 Apr 1G
28,440 Miami Copper...——
12*4 Feb 26
475 Michigan
25
5«4 Oct 15
25
1,400 Mohawk
*5712 J’ly 16
Montana
10
Consol
C
A
C
1,500
.09
Deo 15
4,580
16% Feb 26
1,930 lpisslng Mines
97g Oc? 8
16,297 North Butte
47 Dec 24
1,405 North Lake (58 paid).
412 Mch 22
.'.—fOld Colony
.40
J’ne2i
555 Old Dominion
47I4 Feb 24
.....
Sevada Consolidated. 5
......
_
339 Osceola
122
19
-
3,180 Parrott (Sliver A Cop)
531
[Quincy,
25
1,445 Santa F© (Gold A Cop) 16
13.005 [Shannon
lo
25
2,072 Superior
3,211 Superior A Boston Min 10
2,468 Superior A Pitts Copp. 10
25
1,323 Tamarack
1,560 Trinity
21
United Copper
10C
1,250 UnitedStatesCoalAOil 25
3,454 U S Smelt Kef A Min.
Do
pref
1,888
6,855 Utah-Apex Mining
1,579 Utah Consolidated....
509 Utah Copper Co
425 Victoria
...
25
....
21
_-_i
31 Wolverine
....
1,090 Wyandot
d New stock, e Ass’t paid.
_
t
5
15
10
25
21
1
11
Franklin
2.
Giroux Consolidated.
5
1178 7,620 Winona
aqd>s^ed prices.
1
Cl.
“
5%
11%
2%
887 Adventure Con...... 25
25
139 Allouez..
»,887 Amalgamated Copper 100
2,940 Am Zinc Lead & Sin.. 25
25
80 Anaconda
9,348 Arizona Commercial. 25
Arnold
25
200
25
140 Atlantic
Bonanza (Dev Co>
10
2",092 Boston Coin C&G (rets) II
25
25
Feb 26
Dec 28
Dec (,
Novi.
13*2 Feb 26
83
ll*
34
Jan
5
131* Nov r
127* Apr 2,
4’ly l
62
9I4 Dec 29
7% Nov 4
Jan 12
Feb 25
44
Jan 8
4
Oct 21:
37% Feb 24
3934 Feb 26
3
Oct 28
434 Apr 30
139
Mch 18
2
Oct 6
28
39
b Ex-stock div.
ft
Oct
Feb
Jan
Mch
Jan
114
136
284
9
45
8*2 Nov
Dec
471*
126
102
163
Jan
Dec
Jan
Jan
Apr
Oct
Nov
8*4 Jan
128
140
200
175
25
70
50*4 Augl2
J’ly 23
13
77
4
91*
Feb 23
1
22% Nov
108
S»4
,
J’ne11
Oct 26
147V Nov 9
7134 Dec 11
137* J'ne 9
260
Apr 7
173
Aug 7
8334 Dec 22
97
Apr 23
22014 Dec
3l4 Oct
125
118
139
108
199
12
1141*
34
35
2
170
71
16
15
Oct 26
Oct 16
Sep 20
Oct 13
Aug 7
Sep 2‘j
Aug C
Dec 27
Nov b
Apr 2
196% Deo
185% NOV
97% Nov
91i»
Jan
Mch
Feb
Feb
99% Jan
Feb
99
Jan
16
Jan
77% Feb
Jan
3
961* Jan
1434 Jan
4% Mch
Mch
201
111 Jan
Mch
49
77 Jan
192
Apr
1
Mch
40
Mch
75
Mch
105
Jan
6U* J’ne
147 Jao
9
Apr
Deo
Mch
35
96
12
23
NOV
Nov
Deo
Deo
137% Nov
132
Nov
132%
32%
9612
4%
Nov
Dec
Nov
DOC
128
253
162
60
90
215
3
78
•
93
128
79
Jan
May
24
Oct
261* Dec
21* Jan
1% Mch
148
24’* Jan
26
Jan
871* Jan
4 “Feb
59
Jan
30
40»* Dec 27
Dec 30
64
5134 Dec 30
1
18
.80
231*
24
Feb 17
Jan
May
.
Dec lk
Dec 30
33*8 Nov 19
8634 Nov 19
12
MCh 19,
16% Apr 20
2% Jau 15
19
Aug 3
1214 Nov 19
110i2 Dec 29
14% NOV 16
38
Dec 22f
71* Aug 9
3314 Feb 19
9% Aug 19
7414 Dec 21
19*8 Dec 17
I8I4 .May 28
Dec 22
1
6
Novl9
281* Dec 31
1314 Mch 4
70i* Jan g
.40
Apr 6
30
Nov 19
13
Sep 21
8514 Jan 2
ll"* Aug £
.90
59
170
Dec 22
4
4
67
Dec 17
181* May2s
lsi* J’ly 6
90
Feb 25
tl3%
No >20
Dec 22
Dec 17
158
Aug 12
4 Jan 16
Ex-rights
a
18% Nov
Nov
Aug
Aug
Jan
36% Nov
J’ne
83% Nov
11% Nov
8% Dec
Mch
.99
10
Deo
2% Nov
191* Nov
6i* Apr
J&n
6?* Jan
80
J’ly
13% Aug
110
17% Feb
26%" JanT
Sep
24% Defl
17% Jan
8% Aug
10
12% Jan
2% Mch
225 Jan
.75
8
31* Dec
884 Sep
JT?
Jan
15% Dec
15% Nov
7% Feb
45
.25
Feb
Dec
73
Nov
1% Jau
8% Jan
20% Nov
40% Feb
89% NOV
"56* ".Fan
“i'j’iy*
Jan
Feb
1351* Dec
10% Jan
77 Feb
1% Apr
934 Feb
14
Apr
31% Dec
100 Aug
3% No*
1U% Nov
30% Nov
14% Oct
20% Nov
88 Nov
56
28
66
6
Oct
551* Feb
7
Jan
37
6*% Jan 26
49«4 Nbv20
.50
Aug
191* Nov
.75
Nov
Apr
.45
54
4
J’ne
Nov
40% Dec
Feb
Feb
Mch
17% Jail 23
10% Jau 8
3912 Novl6
59
Sep 21
Oct
30
53
Jan
700
28
8
12% Aug
4U2 Nov
88t* Nov
Apr
Mch
77
Jan
Nov
9% Nov
80% Dec
25
30
130
Deo 23
27* Jan
177* Jan
99
114
10% Apr
11% Apr
15% Jan
93
Feb
Augll
36% J’ncio
Nov
58% Nov
Feb
20% Jan
Feb
28
14
.40
8
.25
Jan 4
Autr 13 z565
21
44% Sep 3
.35
Jan 15
.25
119
695
J’ly
62% NOV
li2 Feb
24
45
Nov
Dec
Dec
Nov
Nov
Oct
Nov
Dec
Nov
Dee
174% Nov
10% Nov
108% J’ly
88% Jan
31% Sep 21
947* Oet 4
Id* May28
62
Oct 1
961* NOV 19
Nov
21% Dec
8% Nov
1141* Jan
38i* Jan
Oct 4
Dec 22
Dec 20
Sep
110
140
Dec 22
Oct 7
131
19
96
Nov
161
106
20
23
Dec
Dec
Dec
34
95
102
7H3j Apr
Jan
Jan
Jan
J ly
105
Apr
Dec
Nov
Dec
Dec
Nov
NoV
Nov
Apr
Feb
04
161
145
205
88% Jan
150
76
96
138
Dec
Mch
13% Nov
Jan
Jau
J’ne
Apr
Jan
Jan
Feb
40
175
Apr 8
Apr 13
1451* Sep 29
401* Aug27
1201*
165
138
263
133
86
85
193
133% Sep
244
117
67
81
193
Dec
Jan
Dec
Jan
Jan
Nov
Mch
NOV
Jan
60i* Jan
151% Dec
Jan
Hot* Mch
136
131
101% Dec
104% Deo
230
140
228
140
156
301
13
58
17
200% Feb
218*4 Aug 10
II7I4 Aug 16
Apr 17
98** Apr 23
112
Apr 27
146
Mayl9
Highest
1211* Dec
Oct 1
Nov 3
__
...
G7%
,02 V
65
Last Sale 8
....
13
150
1G%
5%
10%
2%
17%
65V
16V
77
52%
731
.02%
20%
m
16
72
37%
5334
5212
47*
45%
72
5V
10
10ig 10%
45
41%
45%
8
* 8%
8
8
Last Salt .75
Dec’09
53
63%
63%
53%
161
165
161% 161V
21
21%
21%
21%
88
90
88
88
177*
....
27%
5
2«i,
7
6/
26110%
46-%
73
.......
5%
2734
10%
.95
7
6/l«
.06
69
mmmm
_
226 Fitchburg, pref..
100 12812 Novll
250 Ga Ry & Electric....100
75
Jan 5
Do
pref
„100
79
Jan 14
Maine Central
.100 195 Oct 11
Mass
Electric
3,015
Cos....100
1U4 Jan 12
Do
596
pref
100
58V Jan 15
2,469 N Y N H & Hailford.lOO (tl53 Nov 8
Northern NH
100 146
Feb 4
Norwich & Wor pref.lOO 200 Apr 13
Old
120
Colony
100 190 Dec 8
101 Rutland pref
.....100
26
Apr 27
63 Seattle Electric
.100
9014 Mch 2
Do
26
pref
...100
9712 APr 5
485 Union Pacific
100 rl7278 Feb 26
Do
100
pref
100
9312 Mch 2
5 Vermont & Mass
100 165
Jan 20
105 West End St
50
Jan 2
88
161
Do
pref
50 102
Oct 12
Wore Nash & Roch__100 144 Mch 12
12*/
125
1%
17% 3,510
12 48,629
715
11Q
1FV 9,058
S3V 4,920
11%
28
2*4
16%
_
5,812 Copper Range Con Co 100
20
150 Daly-West
4,746 Bast Bui ce Cop Min— lo
84
9
32
.99
6
17%
62%
163.i
21%
22%
28
101
110
6%
2%
16%
Dec’09
17%
11%
1(J3j 10%
68«% 72%
16% 103.
5%
5%
5
....
Railroad#
.....
11%
*1V
111%
11%
7
68!*
.80
83%
*8%
12%
1%
18
12
333,-
7
66 V
88%
62*2
48%
27%
100%
12%
11%
2834
H8-v
22
0
31
1.06%
87%
38%
X52%
47%
21%
84%
33
4%
27%
6
101
101%
670
670
670
670
36
36
37
*36%
Last Sale .12
Dec-01
31
.99
6
.80
11
Lost Sale .55
111%
11% 1134
183
164% *161
193* 21
20% 20%
90
48%
16
16
75
•
21%
23%
28%
101%
11%
8%
85
54!*
38
111
27
8S%
39%
liv
13
1*4
17%
.08
87%
11%
1234
*1%
17%
■
6%
56
48
.80
9
61
48V
6%
56
49V
1
12
.55
9
67*
10
26%
.
675
87
.16
84
28
10%
71?4
18
1%
47*
29
7%
68!
C7c
65%
80%
3^4
51%
101
075
37
>.10
83
33
47%
55
S
131*
10%
37%
!
13
*1%
17*4
113*
50
64
•
84
9
48
8
37%
1
37%
.16
83%
83*
27%
1
1
1
680
26%
10%
55
21%
22%
27%
12?
110% 111
113* 11
69%
1
1
a
43
4934
+ .30
1
11% *10
* .50
.55
....
2178 22
22% 23%
27% 28%
102
102%
5
.08
49%
.80
11
*.50
11%
341*
5%
9%
71%
17%
6%
*
1
§
*
38
28
.95
i
ft
....
9%
13% 13%
*1%
1%
18
1834
11% H%
110
111%
ft
ii
6
£0%
837*
897e
39% 40
28%
103
685
634
67
883,1
y
ft
!
23%
*.1>
.16
• 1% 85
ft
'
22%
2f34
3.7*
11
€%
56
i
1
12
.55
21%
28
101
680
ii
ii
t
9034
40%
53-%
50%
49%
i
>
88%
39%
53
I
t
5V
f
t
C%
57
_
Lowest
Minins
1
1
*
.
1,230 Amer Agricut Chem
Do
1,067
pref
1,200 Amer Pneu Service.
Do
205
pref..
632 Amer Sugar Refin
47%
102%
7%
122
122
140
140% 140
14012
*36
37
35%
35%
103
103V
103
103
Last Sale 8%
Oct’09
*143
145
*143
145
Last Sale 171
Dec’09
215%
3
....
47%
102%
7-*
121% 122
*11% 12
10&% 109
3334 34%
*27% 29
167V 16S
70
145
100
190
....
167% 168%
M
48
....
*1>%
----
s
K
37
1031*
A
630 Atcb Top * Santa Fe.100
340 1
Do
100
pref
227 Boston & Albany
100
740 Boston Elevated.
100
39 Boston & Lowell
100
177 Boston & Maine
1Q0
Do
pre:
100
Boston & Providence. 100
60 Boston Suburban El Cos.
Do
243
pr zi
10 Boston & Wore Elcc Co
Do
20
pref
Chic June tty & Ustf.100
Do
79
pref.
100
Con A Mont, Class 4.. 100
Conn & Pass RIv pref. 100
HvjhtS'.
Miscellaneous
20% 20%
121% 12234
121% 122
140% 14,34
1887s 189
*11% 113^
10S34 109
*11% 11%
108% 109
33
34%
<
■
16S
04
94
94%
94%
*.... 107
107
107
Last Saif 145
July’09
10234 103
7%
734
*7%
8%
8%
*7%
145
+143
14r'% *143
;
71%
*71%
11% m*
H%
11%
251% 251% 251% \247
159% 159% 159% 150%
83
8234 823/
82%
94
93
94
93%
215
*216
214% 216
1%
*2%
3
*234
124
124
124
123%
112
>111% 112% 112
137
137
137% 137
«...
11%
251%
159%
82%
i
~
198
115
7%
734
20% 20%
121% 122
121% 122
140% 141%
*
■*
94
47% 48
102% 102%
1
»
....
156% 157%
Last Sale 149
Last Sale 210
*198
200
200
—-
il
.
108
*114% 115
105% 10-%
ii
f
198
35
115
18%
80
168
•?
*
198
....
115% 115*4 li5%
105
105
105
104% 104% 104% 104% *104%
203% 2011* 203% 2033/ 202 203 *201% 201% 200*4
•.^1
100%
*102% 103% *102% 103% *102%
1
*
197
104
*37%
f
s
132"
132
104
133%
135%
....
-
•1
232
....
29/
•!
104%
*225
220
*225
146
146
148
148
Last Sale 152
July*09
List Sale 98
Dec’09
*15
16
*15
16
*74 '
*74
*10
10
10
11%
46
*45
47
47
Last Sale 156
Dec’09
117
117
118
117
Last Sale 170
July’03
Last Sale 139% June *09
J>asl Sale 2/0
Oct’09
132
132
131% 132
*104
104
1051; 104
Last Sale 8812
Dec’09
Last Sale 195
Oct’09
18
18
17%
18%
80
80
80
80
..
-
122%
lianas tor Previous Year
(1908)
EXCHANGE
*
v
lor Year
bostoSP^tock:
60% Dec
Mch
12% Feb
4% Mch
9
25 Aug
161* Nov
Mch
Mch
Feb
30% Nov
46% Nov
4% Sep
291* Jan
287* May
21*
Apr
4% Jan
1151* Jan
.50
May
*
47
7
50
Nov
53
5
Nov.
Nov,
Aug
Nov
«7% Nov
Nov
3% Oct
175
Kx-div. and righ
Boston Bond Record
Jan. 8 i$UO.
OS
BONDS
BOSTON STOCK EXCH*GE
Will KSSOin JAN 7
Frio*
Wee
Friday
Jan f
Manga
12
BONDS
Mange
Year
1909
or
Loot SOU
BOSTON STOCK BXOH’GB
wm BHtam Jan 7
TT
Telet> ATd eelltr 4s.l929| J.J
ConTsrtibl* 4a.....
1938 M-8
Am Writ Paver 1st at 5s g 1910! J.J
Atria Com Cop 1st cout 6s 1918,M-#
_
lAteaTSp A SFsgeng 4s.. 1996
Adjustment g 4s—J’ly 1996 Nor
Stamped
J’ly 1996 M-N
60-year cout 4s
19>i j.j)
10-year coirv 5s
1917 J-D
A-O
%tl Gull AW 1BB lanes5s.*59 J-J
Boston Elect L oonsoi 6s. 1924 M-B
1916
Boston A Lowell 4s
Boston A Mains 4 V*
.1944
Boston Terminal 1st 3*08.1947
.1918
Bur A Mo Bit cons 6s
1044106
83
204
ibo v iodv 99*4
94
94
064
064
94
*72* Sde** 714
110
••••••
Sinicina fond «e
...1910
Nntto A Boston 1st 6s....1917
Cedar Bap A Mo B 1st 7S.I916JM-N
2d 7s
1909
•Osnt Vermt lttg 4s.ay 1920
OB A Q tows Bit In68.1910
Iowa Lit 1st 4s
1919
Debenture.6s.
...1918 M-N
eeess
tt
.
......
..
tneb’Ot
•*'*.,*'•M«M»** Tr#
100
117
88
Bale
9y4J’ij’09
1014 Pec’09
Oct *09
809 4 Nor'Of
192 < M-8 i
1933 A-O
1014
924
1164 1164
120 1*60*06;
Sep *09
102
103**
91
Pee*07
1124 Jan *03
Teh *09*
Oct *09
96
91
<
Trent Elk A Mo V1 at tfs-1933'A-0
May’i*9,
103
Mar’09
Apr *06
183
140
964
964
W£
Not a—Buyer pays accrued interest in
-11
Monday
Jan 1
Jan 3
tans
Jan 4
11641 >64
17
#7
47
144'
664
144
464 *
1*4*
29
28
28
48
274 974
48
48
46
484 49
274,
*464 474'
28
48
48
484 494
124 124
H4
824 324
64
84
#•••••
••••••
28*i 284
12241294
110 1114
684 684
•»4 614
14
144
284
84 4
7
8441
7
624 624
944 644
**28**
♦•••As.
264
Amer
Pipe Mlg......l00
BeUTy^Aons (Pa). 100
Central Coal A
ccfcV.ioo
Censoi Trao of N J...100
Easton Con Electric 6.60
Klee Storage Butt
100
Preferred........... 100
67 4 684
614
14
144
274 28
634 04
•24
ns
00V 00V
IV
its*
*•••••
••••••
46
47
••••••
*77*
••••••
*
81
60 V
••••••
60
••••••
••••••
100
••••••
••••••
SFt WayneAW V 10
Indianapolis St..
Indiana
u nion Tr.... 100
of N A.. 10
ter dm Pow A Chem.60
suranoe Co
lystone 'reicybone ..60
Preferred
..60
Key8toneWatchCa8e.l00
fit Brothers
...10
Idttle Schuylkill.
60
ftfinshili A Schuyl H..60
If Haven iron A Steel. 6
Northern Central
60
•
m-mmmrn
*28** *3V
\r>
'll"
45
••••••
10**
67
66
60V
••••••
•«••••
•
•
«.• • •
118
North PennsylTaniH..50
Pennayl BBreceipts....
Pennsylvania Salt
60
PennsylTania meel.. 100
Preferred
100
Phila Co (Pitts) pref...50
Phil German A Norris. 50
60
Phila Traction
Railway a General
10
i*07*V
#•••••
*46V
•••••*
88
tv
Bnaqneu Iron A Steel..5
Tidewater Steel
.10
Preferred
10
Union Tr of Ind
100
United N J BB A C.. 100
Unit Trao Pitts pref..60
Warwick Iron A Steel.10
West Jersey A SeaSh.60
Westmoreland CeaL...50
Wilkes
♦
Gas A Elec..100
Bidand
asked;
46
150
80
10
•••••♦
••••••
•••%••
• ••••
•
••••••
ii
96
08
no sales on
Jan?
27
60
10.4 Pec*09
1424 Not 09
101
Apr ’09
984 Sep ’09
1074
102
117
474
*27
474
464 664 *464 47
144
*...... 144 *14
\w
*•••••
87
this day-
9741084
1124
...181
101
...! 101
...|| »84 984
...||il741194
Ne*»U»{,
Mai’02
084 May’06 ’***i»..*"** ”*"*
1014
07
100
••••••
•••••
10441
Apr’07
Nct’09
...10241034
...'10.41104
964 97
984! 14
964
Pea *09
....
1054!
......'100 4 Apr'o9
1014 l’ne’09
■••••a
j
1
120
160
2 1024 1084
10041004
1004 1024
•( 00 1004
0941004
t0 | 69 96 1004
084
06 4 Apr W
934 M4
100 Not’09
1604 oct *09
Sam
1,
!!' iob" 102“
1104 J’ne’09
1064
99
*‘i *1*04*' io«4
1024 PecM>0
155
....
....
....
f Tint pride.
Mange for tdaer
Range tor Pnoiou*
1909
Year rwoS)
flatfiraorr
SS5 Ooa. Gas BL L. A Pew. 100 90
Bo prat.
96!
100! 76
175 Northern Central
60 166
461 SehboardtB»V)
...100, 114
275
Po Jtd preL----^--lbOl 224
100 United Ry A Eiectrio.. 60
04
494 494
90
11641164
,
117 4 Not’00',
105
Pec’08,
I
LoWit
_
-
Mar 8 48
Marid
Jan
4
Highest
Lowest
HiQfUttt
Pee 4
Pec 17
?014 Msyi8
Feb *5 284Peo 7
Feb24 48 Pec 7
Feb 8 14 4 Pec 8
to
63
80
4
10
lo
Jan 30 Pee
Mar 814 Bse
JAn 102 Pee
Feb. 16 Pec
*>b1 26 Pee
Jan 13 Not
|
PblladelpHla
...
95 AmencunCement
27
*27
26
27
50. 26 tm020 48 Jan 2 324 Mar 43 See
48
Pee3i
48
60
1,067 American ftailways.... 60 44
494 104^.—
424 Mac 404 Nor
60 ;82 j r«v,o 4»4 Uec2l 264 Feb 404 Pec
494 61485-267 OUBbfiS.StMl
484 494
Electric*0©
of
18
*124
America 10 el04 Jan 20
4 Ply 1*' 84 Jan 114 Pee
Elec Storage Battery..100 43 JAn30{ 634 JTy 30 244Feb 474 pec
1104
23 4 Deo 30:
.Gen Asphalt tor ctfs ....160 16 4 Jan
314
84 Jan
Po pnntrct(a....l1)0 58 Juft
844Pe631 104 Jan
624
04 Jan 2
*1*
18
*4 m
Keystone Telephone... 60
|5a Apr 19
03 4May a
Lahe Superior Corn....100 144 J»n
64 Fen
96 Jan^ 1254Bee 17. 784 Jan 974Peo
*57 Penigh C A Nay tr ctfs. 60 !0f
113
624
Feb 764
Wt
1064190
1064 1684 nm* Lehigh Valtey.......... 60
Sep Jl!
4.777 Pennsylrsnia RR—.. 60 034 P«b 24 764 Sep 29
674 68
674 68
614 614 •614 #14 4,621 Pinla(lelp*aCo f Pittst» >. 60 1404 Feb 24 614 Peo 10: 34 4 Mac
144 144
54 F«b 134 Nn?
1441M19 Philadelphia Eleetnct. 25 114 Fob 23 14 4 Pec 3 £
*74 274)
V4 5.914 Phil* Rapid Transit... 80 244 Jan 5 364 a oi 29 .81241’ns 25 41)60
60
60
4 Feb 23 8O4 Be# 21* «8,,Feb 7P^«ime
8.037 Reading
634 984
•4
64 Jan 1 7i»i-Mardo
Ttmopah Mining ....
3,7s Jan |I 9 4 Apr
524
t,O03 Umon Tractton50
684 May 4 x444J’ne
04
96 4 D58 0, 734Jan I
.605 United Gas fmpt.
60 8
^ i?5
sis
—
—
3PM
1$5§S
.
1? 23
*
-
ps
tP^Jan
£Sil
mum
Prieeooro all uattd
interest*
Al Val E-ext is I91GA-®
Alt ALVElec 14F3S.F-K
AmRysoonvbB mU-D
Atl city 1st 5s g *10.M-N
BergAEBrw lkt 6S’‘2lJ-J
Bethle Steel 6s 1998.%?
Cfaoo A MelSt 5S1940J^
Ch Ok AG gen 5S*10 J-J
CM St fty 1st eon 6s 1632
OenTracofN J 1st 6 —
BA A 1st M 6s 1920
Elec A Peo Tr sat tr
Ball Gas-L 1st g 6s 1928
Ihdianapolis fty
v
.J-D
——S
•••••
Phil Elec gold trust ctfs.
Trust oerttis 4s
P A E gen M 6 g *20.A-O
Gen H 4s g1920.. A AO I
Istfib 1030.
Booh RyALoon 6s’64J 4
Syanlsh-Am Ir 6s *27 J-J
ii7*‘
no
UTracfnd genOs’lOJT-j
Un Bys Tr etts 4«*46JAJ
Ill
♦
••••
•••••» •••••<
V9V.....
102 V
—
i'0'44
BALTlillORE
Aim Oous CoaUS Iron. 100
•••••♦
•
100 is
106
101V
••«••;
108
!
•
••••'
•
••••'
06V
ioi
••••••
96V
104V 108
98VI 99 V
■sa‘8
Atlan Coast L tCo&n)100
Canton Co
,...100
Cons Cot Duck Corn...60
Preferred
60
348 355
no
106
7
«V
22
24
85
30
Georgia Sou A Fla... 100
1st pref
100
95V 97
2d pref
75
85
..100
G-B-S Brewing
100
IVi 2
Bends
Pridian all “and
interest.”
Anaoosua A Pet 6a.
AU A Ch eat 4Vs *10.J-J
Atlan C L RK4s 1952 M-S
Atl Coast jUCt)otf8 5s J-D
Ctfs of indebt 4s....J-J
6*20 yr 4S 1026...... J-J
BaltCPass 1st 6s *11 M-N
Balt Fundg 68.1916 M-N
Exchanges Vs 1930 JJ
Balt A P 1st 6s ml *11 A-O
BSP AO lst4V8 ’63F-A
Balt Traelst 5s..*29 M-N
No Balt DIt5s1942 JJ)
Csnt*l By oon5sl932 M-N
Ext A Imp 68.1932 MS
Chari CAA
2dTs’iOA-0
1-iNk
br
•!fe»**e
cityA Sub 1st 5s.. *22 J-D m
^-riioT
CityA StlbC Was) 1st 6s*48
Coal A1 Bp 1st 0S*2OF-A
ColAGrnlr 1st 68.1016 J-J
Consol Gha 6S... 1910 J-D
6s...r,..,,.. ...1939 J-D
GaSOA Fla 1st 5s 1945JJ
G-B-SRrew 34* 1961M-S
2d rnbdme 6s 1961 M-N
103
V104V
01V102
POVTOOV
no
uov
105 V 1,06
105V|05V
113V
108V 1«9 V
42V *1
12 V
MV
KnoxyTrao 1st 6s *28 A-0 104
LakeR El 1st gu5i»42M-S L8
Macon ByALtUt6s’53J-J
95V
Memphis St 1st 6s*45 J-J 100
InactlT# Htecks
*67*»
100
90
.
;S7V
m
••••••
Mid
ChasCltyiiylst 6s*23 J^l
Chsa Ry G A ju 6 s *60 M-S
78\ GaA Alaleit con5A*45J4
Ga Car A N 1st 5s g *29 J J
88 V Georgia F lat os...’22 jj
United Bye fnrr 1st coll tr
stfis 1926..........M-N
86
UTrao Pit gett 6s ^97 JJ
10T
WelBbach at 5s 1630. J-D
WUffl-B GAEcon5s*65J-J loiV
• ••••«
NoOhioTrao con5s*19^-J
Penn gen Os 1910 ...Var
Consol 8s 1019... ..Var
Peon A Md Steel con 6s.
Pa A N Y Can 6s ’39.A-0
Con 4S 1939
.A-O
Penn Steel 1st 6s *17 M-N
P Ce lstA eel tr 6e*49 M-S
OonA col tr 6e 1961M4N
_
P W A B soltr 4s*21 JJ
Portland By
fiALtPlORE
j#fil l#*k
ESSMS WFSffrt
'W
ISftBS
44mS*13
Ph A B«Sfl2d 6s*33.
..
Gen cons 4s 2003.M-N
Leh V Tran con. 4s ’35J-D
New Con Gas 5s 1948 J-D
Newark Pass con 5s 1930
NY Ph A No 1st 4s ’39 J-J
Income 4s 1939...M-N
PHILADELPHIA
A»U
m
4s. 1933
Interstate 4s2943
F-A
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102
THE CHRONICLE
Investment and Hiailroad
RAILROAD
GROSS
[VOL.
LXXXX
Intelligence.
EARNINGS.
The following table shows the gross earnings of every STEAM railroad from which
regular weekly or monthly return*
can be obtained.
The first two columns of figures give the gross earnings for the latest week or
month, and the last two
columns the earnings for the period from July 1 to and including such latest week or month.
We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not
begin with July, but covers some other
period. The returns of the electric railways are brought together separately on a subsequent paqe.
Latest Cross
roads.
Week or
Earnings.
Current
Year.
Month.
July 1 to Latest Date.
Previous
Current
Previous
Year.
Year.
Year.
Latest Gross Earnings.
ROADS.
e
1st wk Dec
1st wk Dec
1st wk Dec
55,000
56,000 1,476,844 1,281,646
33.000
29,000
745,767
682,134
26,000
24,000
639.646
603,436
November
7,246
0,464
31,337
25,797
November. 9,628.529 8,403.247 44,507,765 39,114,925
3d wk Dec
50,642
46,061 1,220,032
944,753
November. 2,746,292 2,247,222 11,080,800 9,690,508
November 7,351,675 6,306,422 37,233,833 32,941,375
Bangor & Aroostook November.
244,683
227,404 1,195,234 1,180,512
Belief onto Central._ November
7,083
28,145
6,161
31,441
Boston A Maine
r November. 3,746,625 3.238,298 19,319,827 17,283,373
Bridgeton & Saco R October
3,828
4,445
19,181
20,378
Buff Roch A Pltts.r 4th wk Dec
234,018
193,436 4,920,067 3,765,826
Buffalo A Susq
r November.
201,186
191,278 1,085,592
964,455
Canadian Northern. 4 th wk Dec
325,900
254,600 6,789,400 5,635,100
Canadian Pacific— 4th wk Dec 2,588,000 2.210,000 49,822,753 40,633,783
Central of Georgia. 4th wk Dec
362,600
830,400 6,269,393 5,978,768
Central of New Jer. November. 2,450,186 2.238,919 11.632.545 10.944,032
Central Vermont.-r October
352,353
324,010 1,370,465 1,272,822
Chattanooga South. d wk Dec
1,551
1,541
35,707
40,847
Chesapeake A Ohio. 4 th wk Dec
716,766
700,952 15,600,287 13,402,921
Chicago & Alton Ry 3d wk Dec
279,489
294,038 6,796,219 6,416,559
Chic Burl& Qulncy.r November. 7,952,241 6,632,676 38,849,136 34,860,273
©Chicago Gt West November. 1,064,993
915,490 5,043,451
Ohio Ind A Loulsv. 3d wk Dec
101,242
88,970 2,883.008 2,613“,838
Ohio Ind So Southern —See New York Cen tral.
Chic Mil A St Paul-r November. 5,956,752 5,129,361 29,567,441 27,573,907
Ch Mil A PugSd.r November 1,044,788
Chic & Nor West—r November. 6,586,682 5,654,874 33,824,726 30,098,782
Chic St P M & O
r November. 1,427,237 1,202,969
6.688,690 5,987,388
Chic Term Trans._r October
116,950
104,359
402,860
383.024
Cin Gam A Day—r November.
898,533
704,549 4,234,783 3,590,037
Clev Cln Chic A St L —See New York Cen tral.
Colorado Midland Jr November.
255,253
225,753 1,122,729 1,034,464
h Colorado A South 4th wk Dec
472,345
473,597 8,648,425 8,088,654
Colum Newb A Lau October
27,172
23,617
91,786
91,657
October
Copper Range
64,101
72,967
274,098
294,696
Cornwall
November.
7.335
17,991
74,635
29,255
Cornwall A Leban.r October
39,575
30.873
153,312
102,203
Cuba Railroad
November.
166,448
117,210
673,261
807,683
l Delaware A Hud- November. 1,838,466 1,634,274 8,542,503
8.045,677
Del Lack & West—r N ovember. 3,232,599 3,058,999 15.489.777 14,442,806
Denv & Rio Grande 4th wk Dec
577,300
526.600 12,315,146 10.915.167
Denver NW4 Pac. 3d wk Dec
15.911
10,586
535.656
393,202
Det Tol & Iront Sys 3d wk Dec
29,111
29,970
789,394
835,900
Ann Arbor
3d wk Dec
36.911
34,383
889,909
892,487
Detroit A Mackinac 3d wk Dec
19,159
18,164
569,978
528,427
Dul A Iron Range, r November.
852,569
596,492 6,336,973 4,596,492
Dul Sou Shore A Alt 3d wk Deo
54.788
52,120 1,632,162 1,326,155
El Paso A Sou W—r November.
633,682
626,123 2,962,257 2,784,206
Erie
November. 4,976,993 4,283,941 23,871,534 22,075,210
Fairchild & Nor E_ November.
2,212
1,768
8,495
9.714
Fonda Johns A Glov N ovember.
66,191
54,953
341.057
387,857
November.
Georgia Railroad
285,735
245,060 1,298,539 1.232,760
Georgia South & Fla —See Sout hern Rail way.
Grand Trunk Syst. 3d wk Dec
845,465
743,817 21,726,124 19,936,643
Gr Trunk West— 2d wk Dec
100,333
110,061 2,792,582 2,604,557
Det Gr Hav A Mil 2d wk Dec
40,660
39.492
940,769
829,099
Canada Atlantic
d wk Dec
36,255
33,564 1,016,189
932,062
Great Northern Syst December.. 3,704,799 4,125,555 34,783.420 30.795.467
Gulf A Ship Island. November.
201,028
168,013
899,631
758,690
Hocking Valley
November.
680.909
560.601 3,353,991 3,016,052
Illinois Central
N ovember. 5,438,394 5,074,164
25.749.777 24,031,642
Internat A Gt Nor. 4th wk Dec
264,000
281,000 4,480,295 4,350,683
a Interoceanic Mex. 4th wk Dec
176,439
170,928 3,349,895 3,130,511
Iowa Central
4th wk Dec
84.285
93,510 1,725,704 1,535,094
Kanawha A Mloh__ November.
248,030
197,172 1,185,156 1,044,017
Kansas City South. November.
848,127
766,792 3,866,797 3.748,086
KO Mex A Orient. 4th wk Deo
51,500
35,000
886,179
588.588
Lehigh Valley.
November. 3,302,219 2,901,677 15,214,924 14.416.341
Lexington A East.. November.
36,157
23,536
164,818
187,549
Long Island
November
Inc 138, 485
Inc 637, 993
Louisiana &Arkan_ November.
108,997
85,052
536,818
467,595
Lou Hend A St L..r October.
104,591
97,982
396,844
352,102
s Louisv A Nashv__ 4 th wk Dec
1,324,570 1,153,600 25,893,424 23,449,626
Macon A Blrm’ham December
13,148
12,678
77,438
74,126
Maine Central
r November.
765,177
654,307 4,007,329 3,722,982
Manistlque.
November.
8,148
3,907
16,721
22,855
Maryland A Penna. October
39,567
36,390
149,013
140,641
a Mexican Internat. 4th wk Dec
286,313
155,156 4,168,414 3,379,542
a Mexican Railway. 2d wk Dec
163,500
130,200 3,504,600 3,113,800
a Mexican Southern 2d wk Dec
26,243
22,648
575,231
558.716
Michigan Central— See New Y ork Centr al.
Mineral Range.
3d wk Dec
16,117
16,149
415,899
413,847
Minneap & St Louis 4th wk Dec
115,965
114,512 2,661,057 2,277,989
Minn St P & S S Ml 4th wk Dec
484,906
423,584 13,625,864 10,899,127
_
_
_
....
N Y C A Hud RIv.
Lake Shore A M S
n Lake E & West
Chic Ind A South
Michigan Central.
Cleve C C & St L.
Peorla & Eastern
Cincinnati North.
Pitts A Lake Erie
Rutland
N Y Chic & St L.
Total all lines
N Y Ont A Western
N Y N H A Hartf.r
N Y Susq A West
Norfolk A South—r
Norfolk A Western.
Northern Central..
Northern Pacific. _r
Pacific Coast Co
Pennsylvania Co
r
d Penn—E of P A E
d West of P & E.
Pere Marquette
r
Phila Bait & Wash.
Pitts Cln Ch A St L_
Raleigh A Southp’t
Reading Company.
Phila A Reading.
Coal A Iron Co
Total both cos
Rich Fred & Pot...
Rio Grande June
Rio Grande South..
Rock Island System
St Jos A Gr Island.
St L A San Fran
Chic A East Ill..
/ E vansv A Ter H
Total of all lines.
St Louis Southwest.
San Ped L A A S L.
Seaboard Air Line.r
Atlatna A Birm.r
Florida W Shore r
Southern Indiana -r
Southern Pac Co
Southern Railway..
Mobile A Ohio...
Cln N O A T P
Ala Great South.
Georgia So A Fla.
Texas Central
c
Texas A Pacific....
Tidewater A West.r
Toledo A Ohio Cent
Toledo Peor A West
Toledo St L & West
Tomblgbee Valley
Union Pacific Syst.
Vandalla
r
Virginia A Sou West
Wabash
Western Maryland r
West Jer A Seashore
Wheeling & L E..r
WhiteRlv(Vt)2 wks
Wrightsvllle A Tenn
Yazoo A Miss Vail.
_
_
Chicago Division)
Mississippi Central.
Missouri
November.
Kan & Tex December..
Mo Pao A Iron Mtl
Central Branch.)
6 Mobile Jack A K C
Nashv Chatt A St L
a Nat Rys of Mexico
Ne vada-Cal- Oregon.
Nevada Central
N O Great North..
78,819
57,445
356,852
273.589
2,298,254 2,208,876 14,156,840 13,792,369
4th wk Dec 1,553,000
Wk Dec 25
33,825
November.
4th wk Dec
3d wk Dec
October
October
1,427,000 27,086,354 24,059,810
38,062
800,941
980,288 •4,780,180
989,554
1,365,389 1,341,319 24,045,230
7,150
7,883
256,892
6,866
8,113
25,315
117,863
48,821
430.656
768.717
4,633,757
22,805,035
195,543
28,035
172,882
Current
Year.
or
Month.
Ala N O & Tex Pao
N O & N East—r
Ala A VIcksb
r
Vicks Shr A Pac.r
Ala Tenn & North..
k Atch Top A S Fe_
Atlanta Blrm A Ati
Atlantic Coast Line
^Baltimore A Ohio.
Week
November.
November.
November.
November.
November.
November.
xN ove nber.
November.
November.
Novembers
November
November
November.
November.
November.
October
November.
November.
November.
October
November.
November.
November
November.
November
N ovember.
November.
a
e
Current
Year.
Year.
Previous
Year.
8,520,957 7,434,521 42,585,638 38,345,385
4,092,946 3,362,837 20,886,419 17,709,044
471,548
870,275 2,381,438 2,021,298
326,253
245,518 1,470,695 1,125,585
2,526,762 2,118,326 12,480,048 10,791,881
2,584,504 2,148,948 12,711,101 11,188,620
280,743
241,645 1,407,062 1,216,041
106,336
88,875
557,162
497,074
1,622,722
965.533 7,676,512 5,369,850
287.916
241,699 1,491,077 1,309,613
908,126
790,547 4,446,398 3.839,083
21728813 18008724 108094145 93,413,474
677,327
624,686 3,812,308 3,705,237
5,161,870 4,611,180 26,131,441 23,295,705
307,807
266,169 1,436,179 1,297,296
229,268
199,167
862,939
745,381
2,990,353 2,411,208 14,543,358 12,323,597
1,158,437 1,004,537 5,519,414 4,978,114
6,690,435 6,418,352 35,681,803 32,004,574
758,929
636,697 3,030,650 2.387,910
4,742,466 3,436,074 23,753,539 18,469,368
14467717 12199 817 69,546,924 60,010,024
Inc 1,94 7,300
Inc 7,87 9,700
1.390,746 1,189,803 6,940,648 6,098,293
1,509,459 1,387,159 7,675,635 7,050,135
2,898,845 2,335,331 13.995.213 11,722,890
14,326
11,712
62,861
51,292
November. 4,000,848 3,524,507 18,344,23 2 16,553.330
November 3,532,035 3,657,764 12,392,035 13,761,804
November. 7,532,883 7,182,271 30,736,268 30,315,133
October
169,694
151,220
651,229
569,545
96,250
83,675
September
267,615
222,039
4tn wk Dec
13,678
14,269
257,327
321,848
November. 5,873,966 5,107,307 29,651,036 26,443,315
October
172,227
166,118
615.908
604,152
November. 3,792,528 3,332,117 18,120,167 16,105,150
November. 1,072,516
920,784 4,972,105 4,377,129
November.
224,219
173,972 1,085,998
951,953
November. 5,089,263 4,426,873 24,178,270 21,434,233
4th wk Dec
282,772
305,830 5,794,885 5,530.815
October...
709,265
649,718 2,828,048 2,304,577
October... 1,630,651 1,437,952 5,620,313 4,941,782
October
91,878
87,508
342,729
309,878
October
11,373
9,888
32,252
28,188
October
133,243
115,672
479,600
427.253
November. 12324026 11085203 58,635,947 52,188,198
4th wk Dec 1,594,376 1,511,639 29,250,740
26,579,124
4th wk Dec
284,291
255,213 5,236,627 4,934,988
3d wk Dec
173,732
146.533 4,187,040 3,671,095
3d wk Dec
83,472
72,317
1,881,737 1,699,201
3d wk Dec
46,471
41,593 1.088,195
899.322
3d wk Dec
23,291
28,485
515,678
609,449
4th wk Dec
652.917
616,939 8,313,190 7,910,755
November.
6,880
5,368
32,945
29,451
November.
389,161
372,157 1,876,264 2,197,603
4th wk Dec
39,268
32,637
600,471
580,107
3d wk Dec
84,435
79,898 1,892,700 1,735,004
November.
7,712
7,286
32,834
29,421
November. 8,341,783 7,241,813 40,816,005 36,057.368
November.
834,501
760,887 4,144,957 3,849,405
November.
105.425
105,741
522,206
529,949
4th wk Dec
703,210
662.998 14,923.587 13,359,183
October
607,697
541,804 2,340,744 2,08G.235
November.
377,963
324,763 3,021,032 2.739,532
October
619,874
547,199 2,471,015 2.115,305
end Deo 4.
962
1,446
November.
29,982
24,608
140,499
119,775
November. 1,093,404 1,146,398 4,317,309 4,162,933
..........
Mexican Railway
....
Mexican Southern
N Y Central A Hudson Rlver^
Lake Shore A Michigan South
n Lake Erie & Western
Chicago Indiana A Southern.
Michigan Central
Cleve Cln Chicago A St Louis
Peoria A Eastern
Cincinnati Northern
.....
.....
Pittsburgh A Lake Erie..
Current
Year.
Period.
Beliefonte Central.
......... Jan
1
I Delaware A Hudson......... Jan 1
a
Previous
$
Various Fiscal Years.
Manistlque
July 1 to Latest Date.
Rutland
New York Chicago 8s St Louis
Total all lines
Northern Central
d Penn—East of Plttsb A Erie—
d West of Pittsburgh A Erie.
Phila Baltimore A Washington.
Pitts Cin Chloago A St Louis
Rio Grande Junction
Texas A Pacific
West Jersey A Seashore
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Dec 1
Jan 1
Jan 1
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
Nov
Nov
Nov
Deo
Dec
Nov
Nov
Nov
Nov
Nov
30
$57,397
30 17,767,178
30
37,985
14
7.179,000
14
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
31
30
Nov
Nov
Nov
Nov
Nov
Nov
Nov
to
to
to
to
to
to
Sept
to
to
Dec
Nov
Previous
Year.
Nov
Nov
Nov
Nov
Nov
1,275,677
85,150,408
41,131,528
4,548,781
2,897,375
25,070,416
2 5,219,125
2,743,444
1.081,794
13,459,155
2,861,732
9,117,873
213290635
$59,983
16,894,360
50,700
7,055,700
1,197,763
76,655,979
35,535.634
3,977,415
2,410,991
22,122,789
22,039,345
2,480,095
892,990
0,457,565
2,543,104
8,348,102
186464009
11,230,508 10,409,408
139689 873 124033 073
Inc 12,
16,140,840
27,636,973
765,501
14,931,35'.
5,410,3;;.
680,800
14,790,246
23,947,433
637,135
13,917,313
5,011,864
AGGREGATES OP GROSS EARNINGS—Weekly and
Monthly.
Weekly Summaries.
3d week Oct
(45
4th week Oct
(49
1st week Nov (43
2d week Nov (45
3d week Nov (44
4th week Nov (42
1st week Dec
(43
2d week Deo
(41
3d week Deo
(40
4th week Dec
(25
®
Cur'nt Year Prev’s Year Inc. or Dec.
$
roads)——
roads)....
roads)
roads)....
roads)....
roads)....
roads)____
roads)....
roads)
____
roads)
13,572,117
19,677,242
12,975,231
13.450.158
13,003,412
16,900,874
12,059,588
11,688,160
12.089,781
15,391,734
$
12,667,923
17,798,946
11,193,399
11.691,325
11,852,248
13,971,227
11,032.034
11.142.346
11,258,272
14,074,702
^Includes earning, of
%
$
+ 1,504.104 12.47
+ 1,878,296 10.55
+1,781,832 15.92
+ 1,758,833 15.05
+ 1,151,164 9.71
+ 2,929,647 20.97
+ 1,027,554
9.31
+
545,814
+831,509
+ 1,317,032
4.89
7.29
9.35
Gull & Chicago Division,
^°iapnr^«7/*
nna*l
inclUlle
*from* Nov b^s9^gescribe^ by Inter-State;Catpmetj3oUpremission.
Month
Month
Month
Month
Month
Month
Month
Month
Month
Month
Feb
Mch
Cur'nt Year Prev’s
$
1909 (893 roads).
1909 (890 roads).
Year
$
174.497.319 161,058,607
205.708.319 183,458 ,‘J0t
April 1909 (895 roads). 197,011,539 175 002,048
May 1909 (893 roads). 201,625,122 174,475,411
June 1909 (893 roads). 210,357,226 183,083.829
July 1909 (885 roads). 219,964,739 195,245,655
Aug 1909 (883 roads). 236,559,877 206,877,014
Sept 1909 (711 roads). 236,874,425 211,281,315
Oct
1909 (699 roads). 251,187,152 225,109,822
Nov 1909 ( 45roads). 65,522,732 58.007,375
Include, the
Inc.
or
Dec.
%
$
4-13,438,712
8.34
+ 22,2 54,415 12.13
+ 2,008,891 12.50
-1-27,149,711 15.58
+26,373,397 14.33
+ 24,719,034 12.66
+ 29,682,805 14.35
+25,593,110 12.11
+ 26,077,330 11 58
+ 7,515,357 12.91
Houston & Texas Central and Its subsidiary lines In
both
A Ottawa, the St. Lawrence A Adirondack and the Ottawa A N. Y. Ry., the tatter
Inter-State Commerce Commission, f Includes Evansville A Indiana
RR.
Includes
Includes earning3 of Colorado A Southern, Fort Worth A Denver City and all affiliatedg lines,
exb,oth
yea,r3 e„arninss of Denver Enid A Gulf RR., Peco3 Valley System and Santa Fe Prescott A
receipts from sale of coai. n Includes the Northern Ohio RR. o Figures here are on the old basis of aoS£1?^33iong?1<2QC*1 *, v deludes earnings of Mason City A Ft. Dodge and Wise. Minn. A Pacific, r These
s Includes Louisville <5o Atlantic from July 1 1033 anl the Frankfort A Cin-
ra"♦. 9 Rohdes
the New York
returns to the
R«ot
Monthly Summaries.
c
Jan, 8
Latest Gross Earnings by
Buffalo Rochester & Pittsburgh
Canadian Northern
Canadian Pac fie
Central of Georgia
—
Chesapeake & Ohio
Colorado & Southern
Denver & Rio Grande
International & Great Northern
Interoceanlc of Mexico
Iowa Central
Kansas City Mexico & Orient. .
Louisville « Nashville
Mexican International
—
Minneapolis & St Louis
Minneapolis St Paul & SSM..1
Chicago Division
j
Missouri Kansas & Texas
Missouri Pacific
Mobile & Ohio..
National Railways of Mexico—
Rio Grande Southern
St Louis Southwestern
Southern Railway
Texas & Pacific
Toledo Peoria & Western
Wabash.
3
234,018
325,900
2,588,000
362,600
715,766
472,345
577,300
264,000
176,439
84,285
51,500
1,324,570
286.313
1154)65
484,906
838,926
1,553,000
284,291
1,365,389
13,678
282,772
1,594,376
652,917
39,268
703,210
Increase.
8
193,436
254.600
2,210,000
330,400
700,952
473,597
526.600
281,000
170,928
93,510
35,000
1,153.609
155,156
114,512
423,584
255,213
1,341,319
14,269
305,830
1,511,639
615,939
32.637
662,998
50,700
17",000
'
‘
V.225
16,500
170,961
131,157
47,952
126,000
29,078
24,070
591
23,058
82,737
36,978
6,631
40,212
51,126
1909.
Cimfirt
1908.
Increase.
$
$
$
45,483,575 42,828,159 2,655,416
earnings (24 roads)
It will be seen that there is a
in the amount of $2,655,416, or
Net Earnings Monthly to Latest Dates.—The table fol¬
lowing shows the gross and net earnings of STEAM railroads
and of industrial companies reported this week:
Roads.
Year.
5
Year.
$
-Net EarningsCurrent
Previous
Year.
Year.
$
$
761,150
1,097,499
2,507,266
3,307,393
1,149,960
1,028,412
5,282,780 4,806,652
$434,805
$346,776
1,036,841
5,620,801 $2,438,065 $2,383,056
6,632,676 2,499,411 1,970,833
Atlantic Coast Llne.a.-Nov 2,746,292
2,247,222
Oi
July 1 to Nov 30
11,080,800 9,690,508
Central of New Jersey.b Nov 2,450,186
2,238,919
11,632,545 10,944,032
July 1 to Nov 30
Chicago & Alton.a
Nov 1,215,708
July 1 to Nov 30
6,110,378
X Chic Burl & Quincy.b-Nov 7,952,241
July 1 to Nov 30
38,849,136 34,860.273 12,128,625 12,140,899
5,129,361
2,085.392
Chic Mllw & St Paul.b--Nov 5,956,752
1,730,804
July 1 to Nov 30
29,567,441 27,573,907 10,394,947 10*648,903
608,516
Chic Mllw & Pug Sd.b.Nov 1,044,788
2,130,012
Aug 1 to Nov 30
3,548,757
7,771
24,904
Montana RR.b
^..Nov
37,988
57,156
187,493
81,932
457,931
July 1 to Nov 30
146,658
8,620
15,875
26,856
Tacoma Eastern, b
Nov
43,320
148,406
82,935
53,049
July 1 to Nov 30
203,087
Total System, b
x
Nov 6,580,682
6,688,690
Nov
>rado Midland.a.-
255,253
1,122,729
Nov
17,991
74,635
Nov
166,448
July 1 to Nov 30.
-
July 1 to Nov 30.
a
RR
807,683
July 1 to Nov 30.
Z o > 3.232,599
el Lack & West.b-
July 1 to Nov 30.
15,489,777
& Rio Grande..
.Nov 2.117.056
July 1 to Nov 30.
10,555,446
Lver
reat
Northern.b--
.Nov 6,135,465
July 1 to Nov 30.
Nov
July 1 to Nov 80.
Central.a
July 1 to Nov 30.
Kanawha & Michigan.
Illinois
July 1 to Nov 30.
Lexington & Eastern
July 1 to Nov 30.
2,059,913
-
•
-
-
31.078,621
690,909
3,353,991
Nov 5,438,394
25,749,777
Nov
248,030
1.185.156
Nov
..
w
•
•
•
Net
Earnings——
Current
Year.
Previous
Year.
Current
Year.
$
$
$
Nov
9,143
67,520
Blaekstone Val Gas & El Nov
101,818
Edison El Co (Brockton) Nov
Jan 1 to Nov 30
28,288
243,282
Fall River Gas Wks
Jan 1 to Nov 30
39,400
374,318
Nov
Houghton Co El Lt Co-_ Nov
28,082
Jan 1 to Nov 30Lowell El Lt Corp
Jan 1 to Nov 30
g
233,128
35,042
324,441
Nov
Mexican Tel & Tel Co.Nov
41,889
350,473
Mch 1 to Nov 30
Minn Gen El Co
Jan 1 to Nov 30
Previous
Year.
$
Nov
105,362
991,199
5,874
51,658
81,342
22,627
193,161
35,789
375,591
27,566
218,476
33,329
308,041
33,128
282,625
103,750
903,156
3,875
25,889
56.679
15,345
108,800
17,753
163,706
16,460
118,796
18.389
141,007
21,908
179,806
65,636
568,243
2,762
20,611
40,933
12,842
89,462
12,310
158,235
16,030
108,346
16,097
129,732
15,516
126,919
63,637
513,270
Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes.
Includes the New York A Ottawa, the St. Lawrence A Adirondack and
the Ottawa & New York Ry., the latter of which, being a Canadian road,
does not make returns to the Inter-State Commerce Commission.
e Includes the Northern Ohio RR.
g These results are In Mexican currency.
^
a
c
V For November miscellaneous charges to Income was $4,854, against
$9,358 in 1908, and for period from July 1 to Nov. 30 was $43,465 in 1909,
against $41,190 In 1908.
$ After allowing’ for miscellaneous charges to income for the month of
Nov. 1909, total net earnings were $389,321, against $321,889 last year,
and for period from July 1 to Nov. 30 were $2,234,685 this year, against
$2,168,864.
x These figures are on the basis of accounting prescribed by the Inter-
1,202,969
5,987,388
225.753
1,034.464
590,938
2,458,131
80,904
241,393
507,621
2,297,813
InterestfCharges and Surplus.
7,353
29,255
10,143
38,883
55,488
252,084
2,269
5,504
65,201
241,012
33,477
117,210
673,261
248,429
3,058,999
1,627,424 1,546,747
7,469,254 6,609,247
14,442,806
616,364
1,836,889
482,347
9.240.967 3,381,825 2,992,428
5.673,562
3,159,568 3,139.786
26,669,912 15,246.182 12.034,887
269,849
560,601
178,903
3,016,052
1.367.341
1,132,725
1,439,133
1,430,027
5,074,164
24,031,643
4,982,708 4,875,923
197,172
79,298
34,352
377,779
259.460
1,044,017
9,833
23,536
def.5,010
47,775
21,970
164,818
42.951
18,415
85,052
467.395
109,062
200,051
-Int., Rentals, Ac.—
Current
Year.
Roads.
Central of New Jersey.-Nov
July 1 to Nov 30
Colorado Midland
Nov
July 1 to Nov 30
Cuba RR
Nov
July 1 to Nov 30
Denver
A Rio Grande..Nov
July 1 to Nov 30
Hocking Valley
July 1 to Nov 30
Kanawha A
Michigan
Nov
Nov
July 1 to Nov 30
Louisiana A Arkansas..Nov
July 1 to Nov 30
Missouri Kan A Tex
Nov
July 1 to Nov 30
Norfolk* ds Western
Nov
July 1 to Nov 30
N Y Ont A Western
Nov
July 1 to Nov 30
St Louis Southwestern..Nov
July 1 to Nov 30
Toledo & Ohio Central..Nov
July 1 to Nov 30
Companies.
Light & Power Co
$
347,278
2,336,337
31,350
156,750
36,666
178,544
457,581
2,168,450
137,379
598,090
26,405
132,931
25,586
124,477
551,001
2,734.456
470,460
2,326,189
98,119
479,271
172,862
864,166
32,177
208,980
,
Previous
Year.
,
$
$
492,060
802,682
536,352
2,562,001 2,946,443
2,244,652
c33,922
31,350
C24.191
156,750
C14.359
C37.658
981
32,496
18,822
73,540
161,771
86,658
343,593
4289,519
4171,834
1,640,904 41,791,283 41,680,390
118,183
£231,505
£124,682
595,403 £1,043,783
£851,904
24,667
£70,507
£18,897
116,588
£295,049
£180,131
18,433
£27,970
£5,321
94,984
£118,019
£38,532
615,731
£199,717
£81,457
2,873,634 £1,620,541 £1,006,215
431,427
823,080
538,811
2,183,334 3,790,917
2,827,104
92,288
95,435
50,425
463,517
705,656
758,014
£180,218
164,665
£178,442
£516,533
839,206
£844,239
£137,173
£70,555
41,205
£651,995
£529,285
201,075
$
$
$
_Nov
801
327
Jan 1 to Nov 30.
Edison El Co(Brcokton) Nov
Jan 1 to Nov 80
Fall River Gas Wks
-Nov
Jan 1 to Nov 30-
5,332
3,996
37,784
1,661
24,583
4,266
50,731
4,161
49,233
31,670
334,551
3,498
Houghton Co El Lt Co_ -Nov
'
Jan 1 to Nov 30_
Lowell El Lt Corp
-Nov
Jan 1 to Nov 30Minn Gen El Co
-Nov
Jan 1 to Nov 30.
c
—Bal. of Net E'ngs.—
Current
Previous
Year.
Year.
INDUSTRIAL COMPANIES.
—Int., Rentals, Ac.— —Bal. of Net E'ngs.—
Previous
Previous
Current
Current
Year.
Year.
Year.
Year,
Abington A Rockland Elec
.
.
241,699
86,363
80,30*
2,543,104
843.627
735,970
357.605
790,547
246,067
8,348,102
2,987,593 2,393.22*
18,008,724 7,911,202
5,710,50*
186464,009 71,943,776 55,351,7**
287,014
930,238
212,804
4,633,757 1,284,843 1,161,961
4,611,180
1,943,052 1.421.434
23,295,705 10,419.086 7,781,877
624,686
193,554
142,713
3,705,237 1,184,927 1,221,531
2,411,208 1,293,540
970,238
12.323.597 6,117,106 5,010,438
6,418,352
2,889,354 3,303,881
32,004,574 16,285,530 15,743,811
1,900,845 1,239,297
3,436,074
18,469,368 10.049,959 7.698,988
305,785
1,022,037
308,702
4,521,821 1,496,414 1,164,327
433
def 197
•
5,368
321
4,687
29,451
372,157
147,463
96,823
653,777 g 830,077
2,197,608
301,898
*>138,327
£>105,993
1,514,807
£>593,498
£>501,972
227,868
760,887
202,041
3,849,405 1,209,005 1,061,841
2,081,345
836,374
501,671
11,219,909 4,340,504 3.593,174
343.195
384,397
1,146,398
471,240
246,498
4,162,933
Abington A Rockland Elec
2,104,827
36,157
187,549
108,997
Louisiana & Arkansas. Nov
536.818
July 1 to Nov 30.
1,838,465 1,312,839
3.863.382
Louisville & Nashv.b- .Nov 4,540.696
21,358,439 19,471,617 8,676,035 6,988.456
July 1 to Nov 30.
264,924
191,397
.Nov
654,307
755,177
1,484,148
1,221,357
4,007,329 3,722.982
July 1 to Nov 3
722,451
689,105
.Nov 2,433,439
2,318,061
Missouri Kan & Tex.
4.313.093 3,850,244
11,858,586 11,583,493
.Nov 4,659.078
4,006,075 1,601,632 1,089,582
6,389.537
22,821,354 19,935,810 7,549,414
2,243,647
Z o > 8.520.957
2,817,538
7,434,521
85,159,408 76,655.979 26,286,241 20,836,605
Jan 1
1,635,302 1,349,606
.Nov 4.092,946
3,362,837
Jan 1 to Nov 30.
41,131.528 35,535,634 15,731,098 12.492,350
144,323
77,609
370,275
471,548
e Lake Erie A West. I Nov
620,047
3.977,415 1,022,259
Jan 1 to Nov 30.
4,548,781
115,978
69,080
245,518
Chic Ind & Sou-b--- .Nov
526,253
470,173
690,630
Jan 1 to Nov 30.
2,410,991
2.897,379
922,073
640,601
Michigan Central, b- .Nov 2.526.762 2,118,326
Jan 1 to Nov 3025,070,416 22,122,789 8,248,450 6,811.304
831,474
Clev Cin Ch & St L.l .Nov 2,584.504
2,148,948
467,469
Jan 1 to Nov 30.
25,219,125 22,039,345 7,386,299 5,592,731
77,666
72,740
Peoria & Eastern, b- .Nov
280,743
241,645
811,567
664,679
Jan 1 to Nov 30.
2.743,444 2,480,095
18,261
def7,926
.Nov
88,875
106,336
Jan 1
248,766
892,990
130,630
1,081,794
ltts & 1
.Nov 1,622,722
965,533
1,004,619
471,307
Jan 1
13,459.155 9,457,565 7,687,206 4,604,041
_
Companies.
33,824,726 30,098,782 11,579,443 11,882,776
Nov 1,427,237
July 1 to Nov 30.
awall b
5,654,874
3
State Commerce Commission.
2,734,686
Nov 7,082,848
Chic & Nor West.b
July 1 to Nov 30
lie St P M & O.b--
3
INDUSTRIAL COMPANIES.
Gross Earnings
Lt & Power Co
Jan 1 to Nov 30
gain on the roads reporting
6.05%.
-Gross EarningsCurrent
Previous
N Y N H A Hart.b
%
6.05
989,554
4,780,180
Nov 5,161,870
July 1 to Nov 30
26,131,441
N Y Ont A Westem_a--Nov
677,327
July 1 to Nov 30
3,812,308
Norfolk & Western.b
Nov 2,990,353
July 1 to Nov 30
14,543,358
Northern Paclflc.b
Nov 6,690,435
July 1 to Nov 30
35,681,803
x Penna Company.b—.Nov 4,742,466
July 1 to Nov 30
23,753,539
St Louis Southwest.a--Nov 1,082,449
July 1 to Nov 30.
4,856,609
Tidewater & Western.b Nov
6,880
July 1 to Nov 30
32,945
389,161
Toledo A Ohio Cent.a.-Nov
July 1 to Nov 30
1,876,264
Tol St Louis & West.b--Nov
353,044
July 1 to Nov 30
1,658,122
£ VandaUa.b
Nov
834,501
July 1 to Nov 30
4,144,957
Wabash.b
Nov 2,529,408
July 1 to Nov 30
12,584,900
Yazoo A Miss Valley.a-Nov 1,093,404
July 1 to Nov 30
4,317,309
*
For the month of December the returns of 24 roads show
follows:
Month of December.
N Y Chic A St Louis b Nov
908*126
Jan 1 to Nov 30
9,117,873
July 1 to Nov 30
1,453
790,974
8
Rutland b
Nov
287,916
Jan 1 to Nov 30...... 2,861,732
Nashv Chatt & St L_b--Nov
61,322
1,427,000
%
Net Earninga——
Current
Previous
Year.
Year.
N Y Cent & Hud RIv— (Con)—
Total all lines.b-----Nov 21,728,813
Jan 1 to Nov 30......213,290,635
1,252
5“,5ii
Roads.
Decrease.
$
40,582
71,300
378,000
32,200
14,814
15,391,734 14,074,702 1,368,158
1,317,032
Total (25 roads)
Net Increase (9.35%)
as
1908.
1909.
of December.
-1—Gross Earnings
Current
Previous
Year.
Year.
Weeks.—In the table which
follows we sum up separately the earnings for the fourth week
The table covers 25 roads and shows 9.35%
of December.
increase in the aggregate over the same week last year.
Fourth Week
103
THE CHRONICLE
1910.]
3,268
30,503
2,541
26,209
4,360
46,246
3,572
47,711
33,444
349,018
3,071
20,557
11,349
71,016
16,092
139,123
12,194
68,065
14,228
91,774
33,966
233.692
After allowing for miscellaneous charges to Income.
$
2,435
17,113
9,574
58,959
9,769
132,026
11,670
62,100
12,525
82,021
30,193
164,252
*
figures are after allowing for other income and for discount and
exchange. The sum of $10,000 Is deducted every monthfrom surplus.and
placed to the credit of the Renewal Fund.
.as
•an
x After allowing for other Income received.
4 These
104
THE CHRONICLE
.'I
.i
ii-
£'
■-
f
V
s
i
i:
[Vol.
£■■
ILXCT&IO RAILWAY AND TRACTION COMPANIES.
Interest
CurretU
Company.
Week or
Month.
Current
Year.
Atari* Cities Ry A Lt October
American Rys Co— November.
cAur Elgin A ChicRy November^
.
B
nghamton St Ry.
.
November.
B rm Ry Lt A Power. September
Brockton A Ply St Ry November.
November.
Gam&guey Co
Cape Breton Elec Co. November
rollna Pow A Lt Co November.
Current
Year.
$
524,706
235,700
122,786
25,811
188.364
Paso Electric
November.
Hr A Clarksb Tr Co November
ft Wayne A Wabash
Valley Traction Co.
Galv-Hous Elec Co__
Grand Rapids Ry Co.
HAvanaElectric Ry
Honolulu Rapid Iran
do Land Co
Houghton Co Trac Co
Illinois Traction Co..
Jacksonville Elec Co.
Kansas City-Western
Lake Shore Elec Ry.
Milw El Ry A Lt Co.
Milw Lt Ht A Tr Co.
Montreal Street Ry..
Nashville Ry & Light
North Ohio Trac & Lt
North Texas Elec Co
Northwest Elev Co__
NotC A Portsrn Tr Co
Oklahoma City Ry._
Paducah Tr A Lt Co.
Pehsacola Electric Co
.
_
November.
November
November.
Wk Jan 2
October
November
October
November.
November.
November
November.
November
Wk Jan
November.
November.
November.
.
.
December..
October
October
November.
November.
POttl'd (Or) RyL&PCo November.
EUo de Janeiro Tram
November
Light & Power
__
.
2,560,549
Cape Breton Electric Co.Nov
1,289.352
197,388
1,646,825
Nov
8,330
10,793
21,789
12,621
122,784
122,119
216,400
181,347
687,747
699,226
Jan 1 to Nov 30
Dallas Electric Corp
Jan 1 to Nov 30.
El Paso Electric Co
Jan 1 to Nov 30.
Nov
37,680
36,375
24,915
457,995
45,611
29,725
90,705
378,546
73,127
74,492
149,426
175,743
105,253
184,679
156,540
49,683
20,710
21,176
411,001
56,000
63,912
968,542 10,244,248
22,525
297,573
105,194 1,231,156
126,521 7,778,660
76,835
896,346
170,739 1,850,565
47,597
541,291
30,924
388,690
111.794
104,446
74,220
36,085
34,010
21,591
406,172
36,882
28,103
80,476
337,234
63,295
68,187
138,598
1,284,807
1,105,677
938,869
341,989
293,883
3,885,844
437,764
330,288
1,020,021
3,871,786
856.952
114,303
108,222
225,799
129,467
647,214
689,462
9,003,164
272,976
1,063,687
6,877,737
810,836
1,837,239
479,029
353,311
1,203,885
991,448
858,792
316,558
240,744
3,605,602
391,871
311,325
955,364
3,538,735
790,472
1,565,16I
1,44 7,946
1,730,019
93,282
983,130
183,689
1,950,030
dl56,796 dl ,592,739 (il,552,029
31,199
19,108
206,459
205,863
18,666
226,253
190,388
370,378 4,385,356 3,964.880
151,934
November.
November.
November.
November.
November.
82,296
221,064
51,088
451,533
13,522
75,963
194,993
54,948
398.795
826,706
2,059,139
541,815
4,103,860
November.
52,900
246,185
82,000
140,515
49,176
219,761
73,000
124,588
887,467
2,202,481
553,523
5,372,280
147,958
539,912
2,466,996
3,769,383
6,760,467
£13,095
£10,647
£11,945
£634,835
£9,371
£497,819
£5,996
£306,718
8724139 10,193,103
574,522 6,810,118
1.348.720
55", 93 8
Wk Deo 25
Metropolitan Dlst. Wk
Dec 25
United Tramways. Wk Dec 25
United Rys of St L._ November.
United RRs of San Fr November.
Virginia Ry A Pow Co August
Balt A Annap. September
Whatcom do Ry A Lt November.
wash
£5,692
927,450
619,313
165,334
58,789
36,856
12,767
32,971
t These
figures are tor consolidated company,
the Norfolk County Ferries.
142,974
502,510
2,302,658
£583,250
£458,578
£J36,053
9.082.878
6,262,900
367",7i8
d Includes
324,899
earnings
this kind will be found in the issue of Dec. 25 1909.
next will appear in the issue of Jan. 29 1910;
Earnings
Current
Year.
or
Roads.
Baton Rouge Eleo Co.. .Nov
Binghamton Street Ry_ .Nov
Jan 1 to Nov 30
$
9,904
25,911
313;951
Brockton A Ply St Ry__Nov
Jan 1 to Nov 30
8,628
122,784
Cape Breton Electric Co.Nov
22,784
Jan 1 to Nov 30
216,400
D^lM Electric Corp
Nov
121,215
Jan 1 to Nov 30.
1,231,156
Hi Paso Electric Co
Nov
56,069
Jan 1 to Nov 30
541,291
Ft Wayne A Wab Vail..Nov
123,651
Jan 1 to Nov 30
1,284,807
Gatvwpton-Hous Elec Co.Nov
109,058
Jan 1 to Nov 30
1,105,677
Houghton Co Trac Co. _.Nov
24,915,
Jan 1 to Nov 30.
293,883
Jacksonville Electric Co.Nov
45,611
Jan 1 to Nov 30
437,764
Northern Texas Elec Co.Nov
105,253
Jail 1 to Nov 30
1,151,069
.
Oregon Electric Ry.a
Nov
34,785
Paducah Trac A Lt Co..Nov
Jan 1 to Nov 30
20,710
206,459
Pensacola Electric Co—Nov
21,176
226,253
'-
Jan 1 to Nov 30
jPDgert Sound Elec Ry—Nov
139,018
Savannah Electric Co
51,088
553,523
Nov
Jan 1 to Nov 30
Seattle Electric Co
Jan 1 to Nov 30
Nov
Tampa Electric Co
Nov
Jan 1 to Nov 30
United RRs of San Fr.b. Nov
Jan 1 to Nov 30
Whatcom Co Ry A Lt__Nov
Jan 1 to Nov 30.
451,533
5,372,280
52,900
Year.
Current
Year.
$
$
7,708
24,823
290,328
8,330
114,303
21,789
225,799
105,194
619,313
574,522
6,810,118
6,262,900
32,971
324,899
367,718
133,963
2,178
36,686
10,894
86,467
52,435
453,969
24,767
213,817
479,029
111,794
1,203,885
104,446
991,448
21,591
240,744
36,882
391,871
93,282
983,130
21,984
19,108
205,863
18,666
190,388
132,352
54,948
541,815
398,795
4,103,860
49,176
502,510
36,856
3,296
10,002
1,063,687
47,597
539,912
53,880
536,111
47,812
455,124
11,367
135,565
22,558
190,676
48,154
519,365
11,961
9,391
83,263
8,814
96,641
41,511
17,572
193,857
186,445
•
2,266,777
24,317
226,302
266,748
2,947,673
17,093
160,660
Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes.
*
The
Net Earnings
Previous
8,397
88,815
22,985
20,941
240,838
6,215
66,217
224,588
Jacksonville Electric Co.Nov
Jan 1 to Nov 30
9,481
103,595
Northern Texas Elec Co.Nov
Jan 1 to Nov 30
16,189
187,064
Paducah Trac A Lt Co. .Nov
Jan 1 to Nov 30
Pensacola Electric Co
Nov
Jan 1 to Nov 30
6,621
74,935
4,509
48,031
Puget Sound Elec Ry
Nov
48.930
43,400
Savannah Electric Co
Jan 1 to Nov 30
Nov
17,555
192,094
Nov
104,184
30.
1,138,953
Nov
4,594
30
51,148
Lt-.Nov
8,517
30
91,276
17,566
189,539
95,797
993,934
Tampa Electric Co
Jan
1
to Nov
Whatcom Co Ry A
Jan 1 to Nov
x
24,964
143,831
16,370
125,002
24,827
7,508
79,127
5,836
53,824
0,020
101,741
14,915
174,358
6,709
75,841
4,270
46,879
to Nov 30
422
16,828
5,846
30,199
4,414
34,562
8,861
90,844
214,286
5,152
$
246
27,655
def.801
6,913
5,580
40,801
10,444
28,117
5,405
52,652
28,912
193,816
3,693
69,348
13,077
87,081
51,972
31,967
332,301
22,736
233,044
1,417
def.7,419
2,770
8,328
4,305
48,610
7,663
57,736
6,005
3,350
9,469
def.930
17
3,189
1,763
82,261
1,127,824
19,723
175,154
8,576
def.2,816
69,384
66,319
693,167
13.349
132,709
5,416
46,947
After allowing for other Income received.
ANNUAL REPORTS.
Annual Reports.—An index to annual reports
of steam
railroads, street railways and miscellaneous companies which
have been published during the
preceding month will bfe
given on the last Saturday of each month. This index will
not include reports in the issue of the “Chronicle” in which
it is published.
The latest index will be found in the issue
of Dec. 25.
The next will appear in that of Jan. 29.
3,448,022
6,211,338
Rlectric Railway Net Earnings.—The following table gives
the returns of ELECTRIC railway gross and net earnings
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
—Gross
.
Houghton Co Trac Co. _.Nov
Seattle Electric Co
Jan 1 to Nov
’
Year.
$
1,071
34,625
4,896
54,983
28,395
319,973
27,471
310,138
•
Year.
8,748
92,098
2,119
24,601
1,756
19,858
5,048
56,268
Galveston-Hotis Elec Co.Nov
Jan 1 to Nov 30
Jan 1
-
1,994,729
1,151,069
2,071,325
6,519,384
.
_
2,685,313
1,418,757
313,951
'*
—Pal. of Net Httfs.—
Current
Previous
$
8,931
99,338
Jan 1 to Nov 80
Brockton A Ply St Ry.-Nov
Jan 1 to Nov 30
6,885,258
Toleao Rys A Light. November
Toronto Railways— Wk Dec 25
Twin City Rap Tran. 3d wk Dec
Underground El Ry
_
123,651
109,058
80,326
Binghamton Street Ry. _Nov
4,468,295
290,328
1.581,763
Previous
Year.
Y^r.
4,750,809
*
627,640
St Joseph (Mo) Ry Lt
of London—
Three tube lines.
37,032
Year.
632,568
.
^
Heat A Power Co.
Sao Paulo Tr Lt A P.
Savannah Electric Co
Settle Electric Co..
Sou Wisconsin Ry Co
Tampa Electric Co_.
56,06
Previous
Roads.
481,001
219.511
109,912
24,823
8,628
11,331
22,784
17,778
60.227
Ural Penn Trac... November.
Clest Con Ry G&E November.
65,368
> Railways Co. October
1108,640
ire Palnesv A East November.
25,800
Balias Electric Corp November. 121,215
Detroit United Ry.. 3d wk Dec 145,610
“>uluth-Super Tr Co¬ November.
85,508
st St Louis A Sub November. 177,71
;
Jan. 1 to latest date.
'
Charges and Surplus.
—lid.. RMtctei At.—
Latest Gross 'Earnings.
lxxxx.
~i‘
Previous
Year.
$
2,500
$,996
119,753
1,318
31.514
10,476
95,784
68,839
348,090
12,913
131,779
52,708
531,489
44,853
418,404
9,529
105,796
60,683
159,477
37,651
407,402
5,933
8,126
81,846
7,620
56,348
42,470
20,755
186,723
162,116
1,687,101
17,763
167,271
258,189
2,363,221
14,277
1*7,701
Chicago Peoria & St. Louis Ry.
(Report for Fiscal Year ending June 30 1909.)
President John P. Ramsey, Springfield, Ill., Nov. 27 1909,
writes in substance:
Receivership.—The results for the year, while showing
a
material lm-
of thelegislation
year,slow
yet far
Srovement
compared
with tothose
previous and
wererecovery
being when
satisfactory,
adverse
owing
■om
from the
panic of 1908.
On July 1 last the net revenue from operations
being insufficient to meet the interest due on the consolidated mortgage
bonds, it was found necessary, in order to protect the property from its
numerous creditors, to consent to a receivership, and on that date Mr.
Henry M. Merriam, of this place, and your President were appointed re¬
ceivers by Judge Humphrey of the Federal Court for the Southern District
of Illinois.
The appointment was concurred in by Judge Francis M.
Wright of the Federal Court for the Eastern District of Illinois.
improvements, Ac.—The property has been materially improved, as
shown by the following:
*4,041 was expended in raising the tracks lying along the
Mississippi
River; as a result operations were uninterrupted during the July 1009
floods, notwithstanding the fact the waters reached a height of 35.4 feet
at St. Louis, M0.
A coal and water station was erected at Forest City, at an
expense of
$11,578, and fuel coal is noW put on locomotives for 2 cents per ten that
under the old arrangement cost 10 cents per ton.
2.34 miles of track previously laid wlth 60-lb. rails were re-laid with 75-lb.
rails; 57,396 cross-ties were placed in the track; 152 feet of trestle-work
were filled; 12.6 miles of track were ballasted with cinders;
7,691 feef of
sidings and Industrial tracks were built and 9,464 feet were removed.
Forty-four freight cam wete equipped with Westinghouse air brakes,
leaving only 25 cars to which power brakes have yet to be applied. 4 loco¬
motives were equipped with Westinghouse air-brakes and there Is now
none that is not so equipped.
The number of freight cars in bad order
was on June 30 1908, 352; Qn June 30 last it had been reduced to
167, an
equivalent to 6.4% of the total cars owned; 1 baggage car, 3 miscellaneous
and 63 freight train cars were destroyed.
The condition ot the motive
power and rolling stock has tieten greatly improved.
OPERATIONS AND FISCAL RESULTS.
Note.—The operating revenue and expenses for 1907-08 have been somewhat
revised in order to afford a proper comparison.
The net revenue as above. $87,160,
compares with $81,008, as shown in last year's report, a difference of 813,848. The
figures for 1907-08 not being given in this year’s report, we have changed the item
of “other income” from $27,321 to $42,169 in order to strike the proper balance
for the year.
Inc. <+) or
1908-09.
Dec. (—).
1907-08.
Tons of freight carried
2,028,469
1.903,867
+124,602
Tons of freight carried 1 mile-—
195,494,550 180.072.962 + 15,421.588
Average distance each ton hauled (miles)
96.38
94.58
+1.80
Average earnings per ton per mlle..r
0.598 cts.
0.609 cts. —0.011 Cts.
Freight earnings per freight trafn mile
$2,190
$2,052
+ $0,138
Freight earnings per mhe of road
$4,728
$4,438
+$290
Average train-load (tons)
366
337
+ 29
Number of passengers carried-.,
821,946
770.748
+ 51.19$
Number of passengers carried 1 mile
17,507.223
16.587,190
+ 920.033
Average distance each passenger carried (miles)
21.30
21.52
—0.22
1.816 cts.
Average earnings per passenger pier mile
1.814 Cts.
0.002 cts.
Earnings per passenger trafn mile
71.07 cts.
68.94 cts.
+2.13 cts.
Gross earnings per mile of road
$6,125
$5,792
+ $333
.
INCOME ACCOUNT.
1908-09.
1907-08.
$
$
Operating Revenue—
Freight
1,169,044 1,097,341 Net revenue
taxes
Passenger
317,943
300,957
Mall, express A misc.
65,595
67,553 Other income
Other than transp’n.
12,251
13,735
1908-09.
1907-08
.
(after
Total income
1.564,833 1,479.586
Oper. Exp. A Taxes—
Deduct—
Maint. of way, Ac.. 205,753
232.193 Interest on bonds...
of
Malnt.
equipment 374,914
365,729 Other Interest
Traffic expenses
73,699
68.655 Rentals
Transport’n expenses 689,762
634.780 Hire of equipment..
General exp. A taxes 108.214
111,069
Total
Total
Total
1,452,332 1,412,426 Balance, deficit
112.501
4.017*
67,160
42,169
116,518
109,329
174,915
13,100
35,944
9,762
174.375
233,720
117,202
213.461
104,082
9,750
29,336
BALANCE SHEET
1909.
$
Assets—
1908.
$
Railroad <fc equip-
012,726,457 12,766,796
ment
Securities deposited
under mortgage 5350,000
C99.500
Securities in treas.
Securities pledged
for loans
d174,000
135,774
Material & supplies
14,477
Cash on hand
190,654
Current accounts.
Suspense accounts
Profit and loss
44.841
202,072
5350,000
24,501
the country is
JUNE 30.
Liabilities—
Common stock...
Preferred stock
Funded debt
Car and equipment
trust notes
Consol, mtge. coupons, due J &J.
Bills payable
Current liabilities.
Int. on prior lien
5,859,300
3,598,900
3,689,715
5,784,300
178,853
254,768
96,750
135,000
327,641
48,375
217,000
353,027
26,415
25,200
25,875
24,000
3,598,900
3,689,715
Total
1909.
After deducting equipment replacement funds, $277,755 In
5 Includes Peoria & Pekin Union Ry. stock, $250,000; Alton Terminal
Kansas
American Smelting & Refining Co. at Chihuahua, which has a capacity of
1,000 tons per day.
From Minaca, the western terminus of the Chlihuahua
& Pacific Ry., to a point about 200 miles west, Is a heavy growth of white
are a number
Near
ierra
Madre aMountains
there asset.
ranges.slope
the •
timber,
valuable traffic
Thence ofto cattle
the western
gine
of the
of anthracite
is
vast
coal
a
deposit
and bituminous
of excellent
From the western slope of the mountains to the coast Is a tropical
country, producing oranges, lemons, bananas, sugar cane, corn and all
foot-hills
quality.
kinds of vegetables.
The harbor of Topolobampo is
in his report written in 1876 as
pronounced officially by Admiral Dewey
the best on the west coast south of San
Is 3 H miles In area and is protected
gently to the water. The company
has been given a grant of practically the whole of the water front.
A
contract has been made with the Hamburg-American Steamship Co. for
service between Topolobampo and Asiatic and South American countries.
The Orient Railway will be the shortest line from Missouri River points
to the Pacific coast by several hundred miles and via the connecting rail¬
roads of Mexico its route from Kansas City to the City of Mexico will be
about equal to that of the shortest line now in operation.
Estimates of Chief Engineer W. W. Colpitts and Freight Traffic Manager
Francisco. « The deep water roadstead
on all sides by high nills, which slope
Ry. stock,
$50,000, and Alton Terminal Ry. bonds. $50,000.
c Includes Peoria & Pekin Union Ry. bonds, $6,500; Mo. & Ill. Br. &
stock, $13,000; prior lien mortgage bonds not pledged, $80,000.
d Includes prior lien mortgage bonds, $109,000, and consolidated
bonds. $65,000.—V. 89, p. 1410. 1141.
Belt RR.
mortgage
City Mexico & Orient Ry.
(Report by E. Dickinson and J. T. Odell, Nov. 22 1909.)
The report made by E. Dickinson, Vice-President and Gen¬
eral Manager of the Kansas City Mexico & Orient Ry. Co.,
and J. T. Odell, Vice-President of the Bessemer & Lake Erie
RR., at the request of the Finance Committee of London
and a number of American stockholders in America, says in
substance under date Nov. 151909 (see also subsequent page):
Completion of 51(5 Miles to San Angelo.—The completion of the company’s
railway from Wichita, through Kansas, Oklahoma and Texas, to San An¬
gelo, a distance of 510 miles, marks a period In its history that for the first
time since the inception of the enterprise permits the making of an intelli-
earnings,
the prospects
the future
£ent
analysis
present
andUnited
earnlg power
States. for
of of
itsits
entire
mileage
in the
Fully
$20,000,000
E. H. Shaufler, Nov. 15 1909.
The estimated earnings for the road in the United States are
materialize when approximately the whole of the agricultural
Orient’s territory is under cultivation, and are based upon
expended—all raised by the co-operative plan
limited number of bonds and by subsidies.
The railway between Wichita and Sweetwater, a distance
was
finished in January 1909, only—ten months ago.
a
60c. per acre.
Earnings »f $7,000 per mile as estimated for the line from Kansas
City to the Rio Grande, 1,022 miles, will make gross earnings
$7,154,000, and the net earnings, estimated at 33 1-3% of the gross,
should be $2,384,666, which Is in excess of the Interest on the bonded debt
of the entire read between Kansas City and Topolobampo.
We have
reached our conclusions after a most thorough investigation, on the ground.
The report of the Chief Engineer and the Freight Traffic Manager Is
accepted as being as close an approximation of the gross earnings from
local traffic of the line in the Republic of Mexico as can be made at
of
the
the South and Southwest to
China and Japan aggregate approximately 600,000 bales annually.
This
traffic moves through the San Francisco and Seattle gateways, a mean
distance by rail of 3,821 miles from the cotton-growing centres.
The
mean distance from the same territory to Topolobampo by the Orient Rail¬
way is 1,321 miles, which reduces the rail haul 2,000 miles, with an increase
in the water haul of only 1,300 miles.
This cotton trade with China and
Japan is constantly increasing and yields to the participating railroads an
annual revenue of approximately $2,400,000.
It is safe to assume that
with 2,000 miles less rail haul the Orient Railway will become a factor in
this traffic.
With its shorter distance to tidewater the road may also par¬
ticipate successfully in the through traffic to all foreign ports now being
present time.
The cotton shipments from
served through the port of San Francisco.
From the results of this investigation, which has been most thorough,
we estimate that the gross earnings per mile of line in the United
exclusive of through traffic, will exceed $7,000, and
Mexico Will be $5,000.
In reaching this conclusion, the freight rates
the earnings of the two countries have been adjusted to a gold
estimate that the revenue from through traffic, considering the railway as
States,
in the Republic of
and
basis. We
a unit, will be annually $3,000,000—somewhat less than $2,000 per mile.
We estimate the annual gross earnings of the railway, one year after the
road Is completed and fully equipped for economical operation, at $13,500,000 and the net earnings at $4,500,000.
In common with all security
holders, we are anxious to see this great property pushed to rapid completion.
Proposed Line in Mexico.—The projected mileage of the company in
Mexico is 637, extending from the Rio Grande to Topolobampo on the Gulf
of California.
Of this distance, 242 miles are in operation, as follows:
East of Chihuahua, 87 miles; west of Minaca, 77 miles, and east of Topolo¬
bampo, 7$ miles. In addition the railway has working arrangements with
Chihuahua to Minaca, a distance of 126
miles, making a total of 368 miles in operation.
The development of the richer mines largely preceded the construction
of the railway.
Agriculturally, however, the projected line traverses an
almost virgin territory.
From the Rio Grande to Chihuahua, 166 miles,
the Chihuahua & Pacific, from
expected to
land in the
the known
earnings from 800,000 acres now contributing an annual revenue, from Its
soil products alone, of $1 per acre to that portion of the line between
Wichita, Kan., and Sweetwater, Tex.
Estimated Number of Acres (1) Tributary to Road in United States; (2) Till¬
able; (3) Possibly Tributary to Railroads Hereafter BuiU;
(4) Tillable Permanently Tributary.
Total
Miles
Farm
Allowance
Tillable
Total
Miles.Width.
Acres.
Oth. Rds. Perm.Tr
Land.
Wichita toSweetw.432
16
4,400,000 3,300,000
495,000 2,805,000
480,000
408,000
Sweetw.to SanAng. 78
25
1,200,000
72,000
SanA. to theRloG_304
60 11,500,000
2,300,000
920,000 1,380,000
and by the sale of
of 432 miles
Its earnings
with the exception of such through traffic as it has been able to develop in
so short a period, have had to come from the development of an almost
virgin territory in Texas and Oklahoma, with, however, a little encourage¬
ment for developed business in Kansas.
The development of this territory
occupied is already far ahead of the predictions. This Is accounted for by
the fact that three great commodities, wheat, co n and cotton, form the
basis for the railway’s traffic.
Tillable Land.—The Chief Engineer (in the compilation given below) has
made a careful computation in order to show the total area of tillable land
on either side of the track from Wichita to the Rio Grande, a distance of
814 miles.
Deductions are made for lands not yet on the market, lands
used for extensive grazing purposes, lands within the corporate limits of
towns and cities, and land where the products may become competitive
with other railways; the object being to show what tonnage should accrue
to the Orient Railway when the territory Is fully or nearly developed.
Development oj Territory.—Between Wichita and Sweetwater the road
There have been con¬
has thus far established 32 enteiprising towns.
structed in connection with the development of only 800,000 acres the
following industries: 37 grain elevators; 10 standard flour mills with an
aggregate capacity of 3,000 barrels per day; 53 cotton gins for handling
raw cotton, extracting the seed and temporarily baling the cotton for the
compress; 4 cotton compresses; 7 cotton-seed-oil mills; 3 first-class alfalfa
mills; 75 or 80 coal yards; 10 Ice plants; 1 salt plant; 1 plaster mill; approxi¬
mately 100 thriving lumber yards; 9 stations for the distribution of oil.
The value of the products, in excess of that consumed and held for seed, is
greater than $9,000,000 annually from 800,000 acres of land.
Earnings.—Of the 3,300,000 acres of tillable land between Wichita and
Sweetwater (432 miles), only 800,000 acres, or 25%, are yet under culti¬
vation.
The receipts at present from the products of the soil amount ap¬
proximately to $800,000 per year, which is at the rate of $1 per acre. The
cultivation of this land carries with it the passenger, mail ana express earn¬
ings.
The earnings from live stock, merchandise and lumber and all In¬
bound freight are sufficient to bring the gross earnings for the current year
to an amount in excess of $1,700,000.
In view of the fact that the pro¬
jected mileage exceeds 1,600 and that the organization Is on that basis,
the estimated operating ratio for the whole line cannot be realized on the
mileage now in operation. When the road is fully equipped, the expense
ratio should not exceed 66 2-3%.
On this basis the railway in the United
States is earning slightly more than the interest (4%—Ed.) on the au¬
thorized bonded debt of the 510 miles between Wichita and San Angelo.
[Bonds are Issuable at $22,500 per mile, single main track; $15,000 per mile,
yard and terminal track, and $12,000 per mile of double track, constructed
or acquired.—Ed.]
The company is, however, now earning net, on the basis of a completed
road between Wichita and San Angelo, approximately 2 H times the inter¬
est on the bonds outstanding, and presents ample equity for a bond sale
up to $10,000,000, and when the additional $5,000,000 are expended
wnich would make this $10,000,000, the then completed road in the united
States should show net earnings In excess of the interest on $15,000,000.
In presenting the value of the line to San Angelo and beyond, and be¬
tween Wichita and Kansas City, we know that the land now under cultiva¬
tion produoes $1 per acre in revenue to the railway and we think it Is safe
to consider the acreage as a unit as being able to produce for the railway
has been
recently constructed smelter of the
product being shipped to the
of their
L3.937.774 13,995,960
a
largely undeveloped and Is devoted principally to stock
raising.
Small tracts are irrigated and are very productive. A very large
area of rich soil in the Conchos River and Rio Grande valleys Is favorably
located for irrigation.
The country is highly mineralized, producing gold, silver, copper,
zinc, iron and lead.
Many mines are now In operation, a portion
1908.
$
1909.
$
260,000
206,699
46,554
218,551
39,962
mtge. due Sept. 1
82,897 Taxes accrued....
13,937,774 13,995,960
Total
105
THE CHRONICLE
Jan. 8 1910.
17,100,000 6,080,000 1,487,000 4,593,000
Angelo and the Rio Grande are included the
Pecos Valley and Fort Stockton, now in process
of development.
There are in this section, under irrigation or to be em¬
braced in irrigation works now under construction, approximately 100,000
acres of land capable of the highest agricultural development, producing
fruits and vegetables to an extent that should contribute an annual revenue
to the railway of from $10 to $60 per acre.
Estimated Earnings per Annum from the 814 Miles of Road when Completed
from Wichita to the Rio Grande River.
Freight revenue from products of the soil: Between Wichita and
Sweetwater there are now 800,000 acres under cultivation,
yielding to the railway at the present time an average annual
freight revenue from soil products of $1 per acre.
On the
basis of ah earning power from soil products of 60c. per acre
814
Total
__
In the area between San
famous Irrigated lands of the
as
to 4,593,000 acres
Freight revenue from live-stock
Based upon the
shipments:
Sresent revenue between
territory
Wichita
between
and Sweetwater,
Sweetwater and
and
ve stock now In the
Rio Grande
Car-load freight revenue
$2,755,800
the
the •
511,000
261,000
225,000
from other sources
Merchandise less than carload
Through freight traffic, without taking into consideration inter¬
change of traffic when the connection is completed between
the line In the United States and the line in Mexico
Passenger traffic:
Based upon the present earnings from such
traffic on the line between Wichita and Sweetwater, with a
moderate allowance due to an Increase of the population In the
tributary territory, and without considering tne Increase in
through traffic that will naturally follow the completion of the
whole line
Mail and express
583,600
1,221,000
„
102,000
*-
earnings per mile $6,951)
$5,659,000
The line from Wichita to Kansas City traverses an exceptionally rich
agricultural territory, taps the Osage coal fields, borders upon extensive
oil and gas regions, is the shortest and the lowest grade line between the
two cities and will secure additional traffic via Kansas City.
The estimated
annual earnings of $6,951 per mile should therefore apply also to that por¬
Total (average
tion of the line.
Estimated Annual Earnings of
Projected Line in Mexico.
Minaca to
Rio Grande td
Chihuahua.
Topolob'po.
(166 miles)
(345 miles.)
of the soil (600,000 acres at f»0.e. and
1,380,000 acres at 50c.)
—
Products of mines (6,000 cars at $10 and 4,500
cars at $75—
Products
$360,000
$690,000
240,000
337,500
0,000
Shipments of cattle (300 cars at $20) .
Forest products (lumber 7,000 cars at $30; ties 3.0-xi
cars at $20; firewood 700 cars at Sl«)i
...
Less than carload shipments (730 cars at-$75 an.!
4,500 cars at $75)
—
Passenger, mail and express: Based upon present
earnings and the natural increase in population
due to the development of the country..
2 77.000
5
i.
7 "<0
72,000
000
207,000
$1,583,500
$
$4,590
mile
In t|»e above estimate no account li s been ia’ten o' tv u lo .'/h business
between the United States and Mexico.
Near,, the v esiern fco+Ml!s of the
Sierra Madras are extensive deposits o' anthracite and bituminous coal.
The anthracite coal Is free from sulphur and phosphorus, contains 85% of
fixed carbon and is equal In quality to the he n goade of Pennsyl vania anthra¬
cite.
The bituminous coal occurs in U.e
me fi d.!, is superior in quality
and, being p actually smo'.teles®, is p«cvU toy ade-t-a! for ike use of war¬
ships. The transportation of mis co..i ..ill b.n ome in time one of the
principal sources of revenue to the fail vay, but {..ee-tus* of its present un¬
developed state, the earnings fiouj this source' arc not included in the
7*0
Total
Average earnings per
above
estimate.
colony of Morn'o'n ha® recently purchased a tract o? 12,000
Mochis, on the Orient Kn*». tor truck-farming purposes and has
already applied to the Government lor * concession to build and operate
canning factories to handle fruit and v gc la t ies for export as well as for
local consumption.—Y. 89, p. 1668. 778.
A large
acres
near
Boston Elevated
(Report for Fiscal Yt
President
Vi'lir:
writes in substan
A.
:tr
Railway.
endiny Sept, o'.) 1909.)
ll.c.
Extensions, <ti.— .»• .
last report are Lv.. iu -1,.i -.y j • ..
The Forest HiK; cf.-i t
>•: ; v
on Nov. 22.
1 :s.
Stoneham line, near . • •'>
.-Jo
.
bridge, Charlestown. 1
are -being used, pv u
1
The route pro > m
was
1909,
on-
<•:
.
■
v
v :
disapproved Ly : h.
.
e
i f
i in the
r
!•'< II;
>;
b
i ui. !d:va w.
nt.
n-
:
us:.
>-vsi.'uetc
rt;
)
i-
traffic
to
the
My..tic Ave
porary
tracks
n.
»tension to Cvu-rtt and Malden
ission. but the Commission has
been filed accordingly.
For the
) lit two or ti c piers Tor the viaduct
an i the remaining two, it is
v
r.r
indicated another twite and a r-U;
East Cambridge . it v, rt<: s m
over the Charles rtiv« r h ive bt< i
expected, can b< b ih wl'hii a ( v. •a t
Plans for the station o i Cnu«• va •» tb
station, with passage-ways to t e
o
l
.
v
L*
the Boston & Maine RR.
present North station, to-
106
THE CHRONICLE
get her with structural and track
connections with the elevated road to
Charlestown and Atlantic Ave., and
with the subway,
si
have been
The Railroad Commissioners
having approved the company’s prepared.
the Cambridge Main St.
plans for
subway,
work was begun on Aug. 12 and is
pushed vigorously.
being
Taxation, &c.—The company’s contribution
to
the public revenues
durtngthelast fiscal year amounted to
$1,801,594 (being 12.4% of its gross
revenue), made up as follows:
Taxes assessed on real estate
Taxes assessed on capital stock.
.$310,008
629,596
Compensation tax for use of streets under the Act of
1897
124,171
Int. at 4% on $4,361,025, cost of
paving
laid
In
streets
by company 174,441
Cost of maintaining street
paving
by
company
63,446
Amount of subway rental devoted to
fund.
63,515
Moving snow removed from sidewalks sinking
and roofs (est.) not less than
5,000
Balance of subway rental
123,277
Rental of the East Boston tunnel
53,216
Rental of the Washington Street
tunnel.
254,924
Capitalisation.--Concernlng
the capitalization of the properties owned
and leased by this
company, your directors wish you to know that the
present capitalization of the two
In cash of $3,978,017 above the companies represents an actual payment
par value of tne outstanding stock.
The
amount of this cash premium has been
invested In the properties.
dividends paid on the stocks and the
The
interest paid on the bonds of the two
companies make an average return to the
capital Invested of something less
than 5.13%
per annum.
It Is not true, therefore, of these properties that
“excessive dividends are
paid
Passenger
Freight
Express, milk, bag¬
Gross revenue
Operating
$
$
13,546,779
14,493,853
14,074,696
999,285
Operating Expenses—
General
Maintenance—
Road and buildings.
_
Total oper. expenses.
Net earnings
Deductions—
Int. on West End debt.
Taxes, West End..
Taxes, Boston ElevatedL
Compensation tax.
Rental of subway.
_
Dlvs. on West End s
rDividends on Somerville
Horse Ry
Rent. Old C. St.Ry.,&c.
Int.on Bos.El.fund debt
Wash’ton St. tunnel rent
East Boston tunnel rent
Depreciation fund
Total deductions
Balance
Dividends (6%)
406,187
58,201
$
13,109,316
417,870
107,427
14,011,167
13,634,613
947,967
983,996
982,729
1,415,478
1,042,855
6,030,866
782,846
1,144,750
6,578,822
1,060,660
1,011,634
6,590,855
1,211,235
1,219,426
5,893,561
9,488,484
5,005,369
9,454,385
4,620,311
9,647,145
4,364,022
9,306,951
4,327,662
680,180
631,116
293,488
139,171
£186,792
1,290,410
668,280
574,113
650,319
525,509
318,189
123,276
207,273
330,205
116,108
117,189
205,522
1,270,841
1,200,874
653,680
573,204
344,823
115,987
201,269
1,190,248
9,180
41,283
348,137
9,180
40,362
306,389
9,180
37,783
300,000
51,685
51,371
100,000
49,709
294,017
9,180
46,566
if/378,909
254,924
53,216
200,000
4,163,952
841,417*
802,503
200,000
3,780,247
840,064
798,000
3,532,743
831,279
798,000
Inc.
BOSTON
1909.
1908.
Assets—
$
S
Construct ion .equip¬
ment, &C-.
27.025,793 25,259,483
Cash
1
3,902,566 2,517,692
Bills and accounts
receivable
2,535,078 1,455,428
Bonds
deposited
with State
500,000
500,000
Materials and sup¬
plies
Insur., &c., funds
1,097,860
Investment
1,535,810
West
End
open
accounts
Property
account.
Stocks and bonds.
845,483
2.898,514
208,011
Somerville
Horse
Railroad
Old Colony St. Ry.
102,851
1,932
1,208,254
ELEVATED
RY.
Liabilities—
Capital stock
Stk.
1908.
$
13,450,100 13,300,000
subscriptions 4.520,075
Funded debt..^..13.300,000
13,300,000
Vouchers & accts.
661,627
6S6.847
Salaries and wages
147,658
Div. and coupons.
144,485
139,712
139,333
389,205
150,354
1,234,007
32,651
Rentals unpaid...
389,205
do
not due
1 151,671
Int.&taxes not due 1,326,018
Tickets,checks,&c.
901,191 West End lease
32,773
ac¬
counts
789.629 Damage fund
2,426.240 Insurance tund...
208,011 Depreciation fund
1,207,202
919,425
705,567
900,000
1,207,202
792,671
633,907
700,000
749,581
2,007,315
710,667
Premium from sale
of stock & bonds 2,053.283
102,851
59,865 Surplus
Total
...40,653,898 35.428.644
-V. 89, p, 1410.
30.
Total
General Results.—The gross
earnings increased $79,125, or 8.4%,
operating expenses ipcreased $46,429, or 8.9%, and
the net
the
earnings and
income increased $37,042, or 8.7%.
The interest on Michigan United
Railways Co. bonds outstanding on May 1 1909
chargeable to operation
was $119,882, and for the entire
year the company earned
considerably
more than twice the interest on its
bonds.
The interest account is increased
by reason of the construction of the
Lansing & Jackson line from which the company will not derive
substantial
revenue until the complete line is in
operation.
The earnings of the line
will appear in the next annual statement.
During the year $213,866 has been expended for
improvements and addi¬
tions, chiefly:
Track and
roadway
constr’n_$91,624|Cars
Electric line construction
24,959 | Electric equipment of
Interest and discount
23,777|
.$33,240
19,343
cars..
Acquisitions.—On Aug. 1 1908 your company
franchises of the Jackson Consolidated Traction acquired the properties and
Co.
For the purchase of
this property $460,000 “first and
refunding mortgage” bonds were issued
and a bonded debt of $790,000 was assumed.
On Nov. 24 1908 that
por¬
tion of the Lansing-Jackson line between the cities
of Lansing and Mason
was turned over to this
company by the Northern Construction Co. and
has since been under operation.
The remainder of the line from
Mason to
Jackson is rapldl y nearing completion and will soon be in
operation.
Com¬
pare V. 87. p. 97, 167; V. 88, p. 1437.
Your board of directors has about completed
arrangements for the pur¬
chase of another property and the construction of a
line connecting with the
Michigan United Railways Co., which will largely enhance
the value of
your property and add to its earnings.
Information relative to this pur¬
chase ana contemplated construction we do not deem It
wise to set forth
in a public report until the property has been
acquired.
568,157
$26,584
$25,620
159,425
157,100
Rys bonds
119,882
Pref. dividends (6%).
60,000
80,000
60,000
_
50,793 Interest
521,728
$452,971 $420,275
5,667
1,321
$458,638 $421,596
on
bonds of
constituent cos
Interest on Mich. Un.
.
Total. deductions
Balance, surplus
_
_.
$365,891 $322,720
$92,747 $98,876
1909.
Sink. fd. invest
Cash on hand, &c_
Cash In sink. fund.
66,000
34,773
24,802
19,503
45.35S
45,972
Total
$11,090,635 $7,319,454
Total
$11,090,635 $7,319,454
Includes franchises and
properties,
$13,706,849;
additions
and better¬
ments, $77,036; total, $13,783,885; less
fixed charge indebtedness,
000.
b Includes bond sales
$3,190,account, $435,000, less sundry creditors,
044.
c See foot-note
$399,b.—V. 88, p. 1437.
a
Booth Fisheries
Go., Chicago, 111..
(Report for Period ending Oct. 30 1909.)
General Auditor L. A.
Keidel, Chicago, Jan. 6 1910,
writes in substance:
Balance Sheet.—As is well,
known, this company acquired by purchase
all the assets
lately owned by A. Booth & Co. A general
all these assets was
re-valuation of
made, and a
Letts and directors F. O. Wetmorecommittee consisting of President F. C.
and Alex. Robertson, after
full discus¬
sion, unanimously agreed that the value of
the assets, $2,377,426, as
in the
shown
accompanying balance sheet, had been
conservatively, if not ultraconservatively, stated, and that ample provision
out of profits for
depreciation incurred since the ($101,295) has been made
company began operations.
The investments,
$251,615, consist
ments, the assets and liabilities o ' whichchiefly of several outlying Invest¬
cannot
be accurately classified at
this season of the year, but which
are, we believe, not
The inventories of
Improperly valued.
merchandise,
$956,538, include fish ana supplies valued
at or below cost.
carrying or storage charges having been absorbed
In profits
from month to month.
*
“Accounts and bills receivable” amount
to $772,746; much the
part of our sales is made on
larger
very
short
terms,
and
provision
has
been made
In advance out of.profits for
possible loss on these accounts.”
The item “cash, $243,943,” doe3
not Include the sum of
$75,000 still held by the receiver of A.
approximately
Booth & Co. pending the final dis¬
position of certain contingent
receivership liabilities, objections to the pay¬
ment of which. It is
expected, will be sustained
Profits.—As shown in the balance sheet, theby the Court.
profits thus far reported
amount to $105,564.
Ample provision has been
depreciation and interest on bonds, the latter made for accrued taxes,
amounting to $33,216.
The results from operations for
the 23 weeks ending Oct. 30
therefore
amount to $138,781. This period Includes
the summer months, which are
considered as the least profitable, and
consequently the results thus far re¬
ported should not be used as a basis for
estimating the profits for an entire
fiscal year, as will appear from the
fact that the November
profits alone
_
amount to
$58,000.
RESULT FROM OPERATIONS FOR
FIRST SIX MONTHS (See
Above.)
Weeks.
Profits.
Bond Int.
NetProf.
May 24 to Oct. 30
23
$138,780
$33,216
$105,564
Nov. 1 to Dec. 4 (approx.)
5
65,500
7,500
58,000
Total to Dec. 4 (first 6 mos.)._28
$204,280
$40,716
$163,564
CONSOLIDATED BALANCE SHEET OCT. 30
1909.
Assets—
Real estate,
buildings, cold
storage plants, steam¬
boats, tugs, machinery,
nets, &c
$2,377,426
Investments
251,615
Merchandise and supplies
at or below cost
956,538
Accounts and bills recelv.
after prov. for doubt.accts 772,746
Cash
243,943
.«•
...
Trade-marks, brands,
good-will, &c
Total
4,802,982
$9,405,251
Liabilities—
Preferred stock
$2,000,000
Common stock
5,000,000
Booth Fisheries Co. debs.
1,500,000
Midland C. Stor. Co. bds.
a200,000
Merch. C. Stor. Co. bds._
6175,000
Mortgages..
C16.500
Accounts payable, includ’g
accrued bond int. and
reserve for taxes
408,186
Profits May 24 to Oct. 30
1909 (23 weeks)
105,564
*
Total
St. Paul plant; b Detroit plant; c Taken
p. 1485.
a
over
..$9,405,251
wdth properties.-
V. 89,
Stevens-Duryea Go., Chicopee Falls, Mass.
(Balance Sheet Aug. 31 Filed in Massachusetts.)
...40,653,898 35,428,644
Michigan United Railways Co.
(Report for Fiscal Year ending April 30 1909.)
The report, signed by President
Myron W. Mills and VicePres. and Gen. Mgr. John Peyton
Clark, under date of Jackson, Mich., June 15 1909, says in substance:
Taxes
1907-08.
..
851,779
798,000
SEPT.
1908-09.
$458,638 $421,596
BALANCE SHEET APRIL 30.
1908.
Liabilities
1909.
1908.
Franch. &prop.a$10,593,885
$7,144,706 Common stock...$6,000,000 $4,000 000
Advanced contrac¬
Preferred
stock
tors for new work
1,000,000 1,000,000
255,353
Bonds
Bond sales acct
3,795,000 1,900,000
535,956
Sundry creditors..
(c)
Material and supp.
175,419
53,860
50,703 Accr’d bd. interest
42,083
82,083
Sundry debtors...
21,849
13,214 Profit and loss
253,552
161,951
Prepaid accounts.
4,157
3,475,883
1909.
8
&c.
Assets—
Surplus for year
38,914
42,064
33,279
53,779
After deducting $24,955 collected from
the Boston & Northern
Ry.
V After deducting accrued int.
charged to construction acct., $177,091.
SHEET
fromsecur.,
1907-08.
$1,021,128 $942,003
Total net Income.
x
BALANCE
expenses.
45,933
Net revenue
51,127,681
51,857,889
52,061,569
50,280,786
281,008,471 273,132,584 271,084,815 262,267,240
$
13,628,383
1908-09.
$946,571 $862,074 Total net income
28,624
29,136
Deductions—
gage & miscell...
on watered stock.”
14,024,768
Mails, rentals, adv., &c
331,044
Interest on deposits, &c.
138,041
LXXXX.
RESULTS FOR YEARS ENDING
APRIL 30 1909 AND 1908.
Earnings—
Shareholders.—From the record of Oct. 1 1909 It
appears that the total
number of shareholders is 3,972.
Of these 3,505 live in
Massachusetts;
87% of the stock Is held In Massachusetts.
Track.—The total length of surface tracks
controlled Is now 460.039
miles; elevated mileage 24.087 miles; total
mileage 484.126.
Wages.—The company has continued its
liberal policy towards its em¬
ployees. There was paid as increased
compensation to long-service men
$71,346; there was paid in pensions $12,226
and in “satisfactory service”
money $53,815.
Tne aggregate sum of increased
payments to employees,
under the provisions
adopted six years ago, amounted during the
year to
$187,384. The provisions of two years ago
raising
the rate of wages in¬
crease this amount by about
$130,359, making a total of about $317,743.
RESULTS FOR YEARS ENDING SEPT. 30
1909.
1908-09.
1907-08.
1906-07.
1905-06.
Earnings-
[VOL.
Assets—
Real estate
Machinery
Cash and debts re¬
ceivable
Manufact’s & mdse.
Total
1909.
$
1908.
$
26,002
217,632
20,365 Capital stock
300,000
250,568. Accounts payable
178,871
Agents' deposits
123,721
445,140 Reserve for deprec’n 160,129
660,883 Profit and loss
1,125,590
1909.
$
Liabilities—
..
808,839
835,838
1,888,311 1,376,956
Total
1908.
$
300,000
118.918
958,038
..1,888,311 1,376,956
Realty Associates, Brooklyn, N. T.
(Report for Fiscal Year ending Oct. 31 1909.)
The directors under date Nov. 22 1909
report in substance:
General
Results.—The
company has bought during the year properties
costing $898,911, consisting of a large plot in the retail
centre, upon which
it has temporarily erected
one-story stores; 120 lots in the Flatbush
section,
upon whicn it has begun the erection of
one-family dwellings; 7 lots
Heights, since sold for Improvement; 6 large new-law
on
the
tenements, bought
at less than cost; 15 minor
purchases, and nine parcels previously sold
but
taken back on voluntary surrender or under
foreclosure for an aggregate
cost of $112,000.
A three-quarter interest was
acquired in a tract on Rockaway
Beach,
a frontage of 7,000 ft. on the ocean and
running
Improvements are now under way preparatory tothrough to Jamaica
selling
as
lots.
The operation will require considerable
building
capital.
As It Is our
in such cases to apply the proceeds of
sales to reducing the cost of policy
tne re¬
mainder until the success of the enterprise Is
it will be some time
before the books will show any profit on this assured,
investment.
Sales have aggregated $1,184,932,
namely 95 dwellings, of which 66
were built by the
company within the year; 9 tenement
properties; and 37
sales of lots, aggregating 222 lots, with total
sales price of $455,000.
The
company has expended In the construction of new
buildings
$418,000, the
operations comprising two slx-stoiy tenements to
Improve a plot of ground
on Broadway, convenient to the
Williamsburgh Bridge; two
and flat buildings; six
store
one-story double stores covering part of3-story
a large plot
recently acquired in the retail business centre; 50
brick
and
stone dwellings,
built in rows, and designed for one
small family each.
These
were all sold before
completion and a second 50 have been built dwellings
or
having
Bay.
are
inf
Jan. 8
process
can be
of construction, and the second lot are being
finished.
sold as rapidly as they
.
^
,
.
principal asset is real estate, which Is
$7,695,519. Its holdings comprise 116 flat
properties costing $923,678, of which 14 are five or six-story new-law tene¬
It owns
ments: 35 are four or five-story flats, and 67 are small tenements.
134 store and flat properties costing $1,341,385, of which 43 are four or
five-story buildings and 91 are less than four stories; also, 333 dwellings
In addition the company has invested $1,695,245 in
costing $1,463,807.
store properties, including six of the largest properties of undivided owner¬
ship m the vicinity of Fulton St. and Flatbush Ave.
It owns building
sites in desirable sections for the building of stores and tenements that have
Real Estate
Assets.—The company’s
carried on the books at cost,
old buildings
The
cost $1,422,880.
On the last-mentioned properties there are
that bring in rent enough to pay Interest and all other fixed charges.
Of this amount,
assets further Include vacant land costing $348,524.
$200,000 covers land upon which the company is erecting buildings or
1909.
Cattle.-.
Calves
Hogs
Sheep
-
Horses and mules-..—
now
held free ana clear.
Mortgages.—The company has Invested during the year $293,822 in
mortgages and the total mortgage Investments are now $494,496, exclusive
of
purchase-money mortgagesThe company holds purchase-money
mortgages amounting to $735,483.
The outstanding mortgage obligations guaranteed by the company, for
a consideration, have been reduced from $1,086,750 Oct. 31 1908 to $669,790.
Interest and Installments now In arrears on investment mortgages
amount to $222, on
purchase-money mortgages to $2,355 and on guaran¬
pending, that of a guar¬
teed mortgages to $527.
There is one foreclosure
anteed mortgage, interest amounting to $14,750.
$389,059 in cash was collected during the year on
of purchase-money mortgages.
The books show that
account of the principal
STATEMENT FOR YEARS ENDING OCT. 31.
1906-07.
1907-08.
1908-09.
$
$
$
450,553
470,221
524,399
Receipts from rent3-.:_
98,471
75,132
Int. on bonds & mtges..
69,588
229,837
452,282
217,605
Profits on sales of real est.
54,684
79,280
76,563
D1v8., commissions, &c_
1905-06.
$
532,422
90,706
538,002
22,459
888,155
854,470
1,055,990
1,183,589
219,891
162,226
60,902
188,891
131,870
62,230
224,409
130,785
60,809
Divs. (see note below).(6?S) 239,994
37,603
Amt.res.for profit-sharers
197,715
137,485
60,020
6,000
(8)319,992
40,334
(8)319,989
82,662
(8)319,973
113,931
720,616
167,539
761,547
92,923
785,642
270,348
849,907
333,682
Total receipts
Deduct—
Real est. exp., less
ch’gd
to capital for better’ts
Int. on bonds & mtges._
General expenses _ _
Deprec’n of real estate._
Total deductions
Bal., surplus for year,..
Note.—The dividends for the years 1907-08, 1906-07 and 1905-06
of 3% each and an extra 2% paid
two semi-annual distributions
next succeeding fiscal year.
include
Oct. 15
BALANCE SHEET OCT. 31.
1908.
1909.
$
Liabilities—
$
4,000,000
139,873
58,120 Capital stock.
..7,695,519 7.454,612 Mortgages payable..4,015,805
Notes
235,000
218,256
67,988
1,236,856 1,118,679. Accrued exp. (est.)_
Mortgages
17,604
Stocks, bonds, &c.„ 559,295
244,590; Sundry accounts....
Reserved
for
Real estate contracts
profit114,583
65,917 |
sharers
37,603
Due from tenants...
5,903
3,250
31,728 j Res. on mtge. owned 135,975
Int. due & accrued..
42,845
555,935
Taxes,&c.,pd. in adv. 20,319
14,640; Undivided profits
1,000,000
Sundry accounts.
32,460
28,157; Surplus
Assets—
Cash
Real estate
Unfinished bldgs
Total assets
—V. 89, p. 1415.
10,065,910 9,019,693
1908.
$
1909.
$
4,000,000
3,344,085
60,000
•
62,632
26,443
40,334
97,803
388,396
1,000,000
Total liabilities..10,065,910 9,019,693
(Independent) Telephone & Teleg. Co., Buffalo, N.Y
(iStatement for Half-Year ending June 30 1909.)
2,384,294
285,966
2,295,979
259,815
3,092,835
1,645,325
3,715,109
1,640,542
2,923,777
1,582,148
2,675,601
1,616,788
67,796
Telephone & Telegraph Co. (V. 76, p. 482), both subsidiaries
of the Consolidated Telephone Co. of Buffalo (V. 80, p. 2346;
V. 76, p. 481), voted to sell their properties to the Federal
Telephone & Telegraph Co. Since then the control or owner¬
ship of various others, if not all, of the properties controlled
by the Consolidated Telephone Co. have been taken over,
the Consolidated with the other shareholders therein receiving
share for share for these holdings.
56,335
62,341
69,629
Capital stock outstanding, $8,123,000, In shares of $100 each.
Divi¬
dends, 6% per annum, paid quarterly, the last distribution having been
iw% last November.
Convertible 5% bonds, $877,000. Compare official
statement In V. 77, p. 301.—V. 88, p. 373.
GENERAL INVESTMENT NEWS,
RAILROADS, INCLUDING ELECTRIC ROADS.
& Light Co.—Stock Increase by Hous¬
Lighting & Power Co.—See “Industrial Companies.”—
V. 89, p. 347.
American Light & Traction Co., New York.—Extra Divi¬
dend.—The directors on Tuesday declared dividends of the
same amount as they did last October, namely (1) a 2^%
stock dividend, payable on the common shares on or be¬
American Cities Ry.
ton
fore Feb. 15 to holders of record Jan. 19, who will thus re¬
ceive 2}/2 shares of new common stock on every 100 shares
of common held by them, respectively; and (2) the usual
quarterly dividend of 2%, payable Feb. 1 to holders of rec¬
ord Jan. 19.
The usual 1^% (quarterly) was also declared
on the preferred stock.
(Compare V. 89, p. 920.)—Y. 89,
p. 1599, 1412.
Aroostook Valley (Electric) RR.—Offering of Bonds, with
Interest Guaranteed by the Canadian Pacific Ry.—J. M. Rob¬
inson & Sons, St. John, N. B., own and offer for sale $300,000 first mortgage 4^% gold bonds dated Aug. 1 1909 and
due Aug. 1 1929, but subject to redemption on any interest
day at option of company at 105 and interest. Coupons"
payable F. & A. at Augusta Trust Co., the mortgage trustee,
Augusta, Me., or at Liberty National Bank of New York.
Par $500 and $1,000.
Interest is guaranteed by endorse¬
ment on each bond by the Canadian Pacific Ry. Co.
Issued.
$300,000 '
75,000
Capital stock
100,000
Abstract of Letter from President A. R. Gould, Presque Isle, Me., Oct. 23.
This railroad, connecting with the Canadian Pacific Ry. at Presque Isle,
Capitalization—
*
4H% first mortgage bonds (closed mortgage)
6% debentures (auth $150,000, earning Interest from Aug. 1 ’10)
_
extends northwesterly through the Aroostook Valley to Washburn; total
under construction, 14 miles, serving the townships of Presque Isle, Wade,
Perham, Woodland, Washburn and Wildlands,
the garden of Aroos¬
took County.
In 1908 these townships raised over 4,000 carloads of po¬
tatoes, 1,000 carloads of hay, grain and apples, which were hauled by
wagon from 8 to 16 miles to the nearest railroad stations.
It is an electric road built almost entirely on private right of way, espe¬
cially constructed for freight business with exceptionally easy grade and
highest standard steam railroad construction throughout, 75-lb. T rails,
cedar ties, overhead construction 0000 copper wire, &c., two steel bridges,
concrete piers and abutments.
A 20-year contract has been entered into
with the Maine & New Brunswick Electrical Power Co., Ltd., at Aroostook
Falls, N. B., for power at the low rate of 1 H cents per kilowatt hour.
Passenger cars and locomotives built by J. G. Brill
The Canadian
Pacific Ry. Co. supplies sufficient freight cars.
The mortgage Is a closed one for $300,000 on the 14 miles of railroad from
Co.
Each bond by endorsement bears the guar¬
anty as to interest of the Canadian Pacific Ry. Co.
On future extensions
the Canadian Pacific Ry. Co. are prepared to guarantee bonds In the same
manner as the present issue, subject to their consent being given to make
such
This company was incorporated at Albany on Dec. 28 1908
with $6,000,000 of authorized capital stock.
On or about
Jan. 2 1909 the stockholders of the Frontier Telephone Co.,
Buffalo (V. 86, p. 483; V. 88, p. 1004), and the Inter-Ocean
1906.
2,154,338
303,789
Presque Isle to Washburn.
Federal
1907.
1908.
2,350,946
308,982
7,238,526
6,917,812
7,465,884
7,870,113
__$170,416,328$147,448,813$145,084,418$133,409.496
143,750
145,406
141,943
138,769
Total No. head
Valued at--.
Number of cars
land
acquired by the city and not yet paid for.
The holdings of unproductive
land, therefore, exclusive of the land at Rockaway Beach, cost $648,524,
consisting of over 1,100 building lots.
Most of these lots are on open
streets with some or all improvements and are located In sections which
will be directly benefited by the building of the 4th Ave. subway and the
Coney Island extension.
The Improved property is now 92% rented.
Real estate costing $835,000
is
107
THE CHRONICLE
1910.J
extensions.
Earnings estimated by Canadian Pacific Ry. (for first
year’s operations of the 14 miles)
$66,400; balance available for fixed
charges and sinking fund, $26,560. The farmers in this section have sub¬
to
scribed
nearly all of the debenture bonds and common stock.—V. 89,
p. 846.
Atlantic & Lake Superior Ry.—Sale of Baie des Chaleurs
Section.—See Quebec Oriental Ry. below and compare
V. 89, p. 1595, 468.
Atlantic Quebec & Western Ry.—Allied Enterprise.—See
Quebec Oriental Ry. below.—V. 89, p. 1410.
Baltimore & Ohio RR.—New President.—Daniel Willard,
Vice-President of the Chicago Burlington & Quincy RR., has
been elected President to succeed Oscar G. Murray.
Mr.
Murray was elected Chairman of the board of directors.—
V. 89, p. 1346, 1148.
At Incorporation President Hubbell stated that the Federal T. & T. Co.
would "cover about 30,000 square miles of territory in New York State,
Belt Line Railway of Montgomery.—Bonds Paid.—The
with about 17,000 subscribers in Buffalo, and reach 100,000 subscribers
outside of Buffalo through about 2,000 miles of well-built toll lines, carry¬
$200,000 6% bonds maturing Jan. 1 are being paid off at the
ing nearly 40,000 miles of heavy copper wire."
Metropolitan Trust Co. of this city, the amount necessary
RESULTS AS REPORTED FOR HALF-YEAR ENDED JUNE 30 1909.
to retire them having been deposited by the company. The
Gross Inc., rentals & tolls..$374,7011 Bond interest
$116,714
Net (after taxes, &c.)
195,719) Net profits
79,005 mortgage, we are informed, is to be canceled.
Bolivia Railway.—Bonds, &c.—Speyer & Co. recently
BALANCE SHEET AS OF JUNE 30 1909.
closed negotiations with the Banque de Paris et des Pays
Liabilities—
Assets—
Cost of properties
$4,797,050 Bas and the Societe Suisse de Banque et de Depots, Lau¬
$9,950,800 Capital stock issued
New construction
101,331 Capital stock to be issued
298,800 sanne
(a branch of the Societe Generale, Paris,), covering
Federal
bonds
Furniture and fixtures..
outstand'g
219,500
7,507
Tools
1,546 Underlying bonds
4,609,300 £ 1,500,000 first mortgage 5 % gold bonds, this being practically
Cash..
13,085 Accounts payable
86,706 the balance of the total issue of bonds not
acquired or con¬
Bills receivable
9,485 Advanced payments on
Accounts receivable
service
28,807
tracted for by the Antofagasta (Chili) & Bolivia Ry. Co.,
147,532
6,357
Cap. stock of other cos._
4,885 Accrued taxes
Ltd.
We are favored with the following:
Stores & wareh’se supplies
251,698
59,343 Undivided profits
Deferred charges..
Total
2,704
$10,298,218
$10,298,218
Total
•The underlying bonds are:
Frontier Tel. Co. (V. 86, p. 483), $2,500.000 1st M. gold 5s, due July 1 1922, but callable after July 1 1912 at 105;
int. J. & J. at Trust Co. of Am., N. Y.; Inter-Ocean Tel. & Tel. Co. $1,387,000 1st 5s dated 1903 due Jan. 1933, but callable at 105; Int. J. & J.
(V. 76, p. 482); Ithaca Tel. Co., $95,000: Watkins Tel. Co., $25,000; Valley
Tel. Co., $100,000, and Clifton Springs Tel. Co., $2,300.
The directors at Incorporation were:
B, G. Hubbell (President), W. H.
Andrews, C. C. Machemer, R. W. Chapin, C. A. Flimton, H. H. Littell,
R. R. Hefferd, Andrew Langdon, T. B. Lockwood, C. W. Goodyear. A. D.
Bissel, C. L. Ingham, W. P. Cooke, Buffalo, and G. D. Morgan, of Roches¬
ter; H. H. Persons. East Aurora.
Kansas
City Stock Yards Go. of Missouri.
(Report for Year ending Dec. 31 1909.)
The number of head and valuation of stock handled at the
yards for the past four
The aforesaid bonds are dated 1907 and mature Jan. 1 1927 (but are
on any interest day); both principal and semi-annual
interest are payable in sterling in London and also at fixed rates of exchange
in U. S. currency, francs, reichsmarks and guilders; total authorized issue,
subject to call at 105
years compare as
follows:
£3,750,000, of which there have been issued to date £920,000.
The first
mortgage may be increased by £2,000,000 (interest rate not to exceed 6%)
under certain conditions as provided in the mortgage.
(Trustee, Central
TrustCo., N. Y.
Denominations £20, £100 and £200, c*—Ed.)
The original contract with Speyer & Co. and the National City Bank,
under which the concession was granted, provides for the expenditure of
£5,500,000 cash for construction, of which sum the Supreme Government of
Bolivia contributed £2,500,000, which amount was deposited (with Speyer &
Oo. and the National City Bank) for the purchase at par of a like amount of
second (income) mortgage bonds, junior to the first mortgage bonds.
The
first mortgage bonds will be Issued at the rate of £37,500 face amount of
bonds in
respect of every £55,000 cash expended for the acquisition, con¬
struction and equipment of the lines of railway, the balance of the expendi¬
tures being provided for by the purchase by the Government at par of
second (Income) mortgage bonds, as above stated.J The first 5s are secured
by
a
first Hen
on
all property now owned or
hereafter acquired with the pro¬
ceeds of the bonds, and are unconditionally guaranteed as to payment of
Interest by the Supreme Government of Bolivia by endorsement on each
bond.
108
THE CHRONICLE
Under agreement of Oct. 19 1908 the
Antofagasta (Chili) & Bolivia Ry
Co., Ltd. (owning and operating certain lines of railroad
in Chili and Bo¬
livia), acquired from Speyer & Co. and the National
City Bank a controlling
Interest in the stock of the Bolivia
Ry. Co. and purchased from said bankers
£460,000 first mortgage bonds of the Bolivia
Ry. Co., being one-half of the
amount of said bonds
outstanding at that time, and agreed to purchase for
cash one-half of the total future issue
of said first mortgage bonds as and
when issued.
This agreement further
provides that the Antofagasta &
Bolivia Ry. Co., Ltd.,
unconditionally guarantees the prompt payment
of the interest maturing
subsequently to Jan. 1 1909 on all Bolivia Ry.
first mortgage 5s from time to time
outstanding, such guaranty being en¬
dorsed on each bond.
By indenture dated Dec. 31 1908 the Antofagasta
& Bolivia Ry. Co., Ltd., leased for 99
years ending Dec 31 2007 the Bolivia
Ry., Oruro to Viacha, as well as lines hereafter constructed.
Compare
V. 87, p. 1477; V. 89, p. 1667.
Boston & Lowell RR.—New Stock, &c.—The shareholders
voted Jan. 5 to increase the
capital stock from
$7 ,lip,400
by the issue of 2,700
additions and
has been made
$6,849,400 to
new
shares
on
account of
improvements. Charles Francis Adams 2d
a director,
succeeding Walter C. Baylies, who
resigned.—V. 89, p. 1667.
Brooklyn Heights RR.—To Guarantee Bonds.—Brooklyn
Union Elevated 4-5% bonds and
Kings County Elevated
4% bonds will be guaranteed on two days in each month in
1910 by the Brooklyn Heights RR. Co. at 85 Clinton
St.,
Brooklyn, N. Y., between 9a.m. and 12 m., as follows:
Jan.
14 and 281 April
Feb.
15 and 25 May
Mch.
15 and 30 [June
—V. 88, p. 99.
15 and 291 July
16 and 27 Aug.
15 and 30(Sept.
Canadian Northern
& Lake St. John
15 and 29 Oct.
15 and 30 Nov.
15 and 30 Dec.
14 and 28
15 and 30
15 and 30
Ry.—Proposed Guaranty.—See Quebec
Ry. below.
Amalgamation Notice.—There has been filed in the office
of the Secretary of State of Canada an
amalgamation agree¬
ment dated Aug. 11 1909, made between the Canadian
North¬
ern
Railway Co. and the Northern Extension Ry. Co.—
V. 89, p. 1595, 1480.
Chicago City & Connecting Railways.—Change in Plan.—
The consolidation plan announced last week
(V. 90, p. 53)
has been modified to this extent, that instead of shares of
stock there will be issued
participation
certificates, which,
face value, will be entitled to certain
percentages of the earnings over and above the interest on
the bonds.
These certificates of participation will
probably
be of two classes, one class being entitled to dividends at
the
rate of 4J^% per annum and the other to
4%, after which
both classes will share alike, except that
the first-class may
never receive more than
6%.
while not
having
any
Explanation by Ira M. Cobe.
The 322,000,000 bonds which we are about to
issue, and which will be
sold to the public, will have behind them collateral in
the shape of bonds
and stock which exceed in value the amount of the bond issue
by seven to
eight million dollars.
The purchase price of the Chicago City Ry.
Co., as
fixed by the ordinance, amounts to 518,000,000 above the first,
mortgage
rehabilitation bonds.
This value is represented by the stock of the com¬
pany, of which the Chicago City & Connecting Railways hold 95%.
To
this $18,000,000 must be added $5,000,000, which is
the purchase price
under the ordinance of the Calumet & South
Chicago Ry., and
approxi¬
mately $1,750,000, the purchase price of the Southern Street Ry., making
a total of $24,750,000.
There is also the Hammond East
Chicago &
Whiting Ry., which, while its capital stock is nominally only $500,000, has
an actual value considerably In excess of
that.
A sinking fund is provided
that will take care of $3,000,000 of the bonds before
maturity.
The public will not be asked to purchase
any of the participation certifi¬
cates at this time.
For the present they will be held en bloc
by the trustees,
and will be used by them as a basis for future
negotiations looking towards
the ultimate consolidation of all the surface lines.
I wish to add, in regard
to these certificates, that none of them has been
given as a bonus to the
underwriters of the bonds, although some of them will be owned
by bond¬
holders, as in my case, for I have purchased some of the bonds and also
of the certificates.
Instead of sayng, as we did in the original statement, that the
capitali¬
zation of the new company would be $62,000,000, we should
have stated
that capitalizing the earnings at 4% would make
$62,000,000.
It has
been said that we have Included the 10% profit on rehabilitation in
our esti¬
mates of earnings, which is true, and It is true that the
profits in the future
from this souroe will be small as compared to what
they have been during
the last three years.
I should say that in the future our extensions will not
amount to more than $2,000,000 a year on the
average, on which our profit
will be $200,000.
On the other hand, we are told by the
operating men
that there will be a big saving in operating expenses, and instead
of cost¬
ing 70% of the gross revenue to operate, under the consolidation the
op¬
erating expenses will be nearer 60%. The entire issue of $22,000,000
bonds has been largely oversubscribed.
Compare V. 90, p.53.
own some
.
Chicago Lake Shore & Eastern Ry.—Terms of Lease to
Elgin Joliet dk Eastern.—The 60-year lease to the Elgin
Joliet & Eastern, dated June 1 1909, is now at hand.
It
provides in substance:
The Elgin company shall pay to the Chicago
company $4,000,000, to be
held by the latter as security for the performance
by the Elgin company
of the terms thereof, and to be returned to the
Elgin company at the ter¬
mination of the lease, less reimbursement for any loss or
damage which
may have been sustained by failure of the Elgin company to
perform any
of the terms of the lease.
All income from the investment of the
money
is to belong to the Chicago company.
[This is the $4,000,000 referred to
in our last issue.—Ed.]
The Elgin company is to pay all interest on bonds,
taxes, assessments
and rentals due by the Chicago company and
interest at 5% on the cost to
the Chicago company of additional lines of road or
acquisitions made out of
funds not derived from the sale of additional stock or bonds.
It will
also pay interest on the bonds of the Elgin company
and the? necessary
amounts for depreciation and maintenance of the
properties of the two
companies and if earned a dividend of 4% on Dec. 1 on the stock of the
Elgin company from the surplus earnings of the joint
properties for the
Erevious
year.named,
company
nextthat
Chicago company
the order
The but
Elginonly
paysuch
to the
to the will
extent
earnings will
permit
l
(1) On Deo. 1 liOf $300,000 and on each succeeding Dec. 1
(available, it is understood, for the payment of dividends); (2) $600,000,
a further
amount equal to 7% on the then
outstanding stock of the Chicago com¬
pany; (3) such proportionate part of the remainder of the surplus
earnings
for such year as twice the par value of the then
outstanding stock of the
Chicago oompany bears to the sum of the par value of the then outstanding
stock of the Elgin oompany, plus twice the par value of the then outstand¬
ing stock of the Chicago company. Payments to the Chicago company
are to be made quarterly from estimated
earnings, adjustments to be
made at the end of each year.
Should the earnings in any year not be
sufficient to meet the payments under subdivision (1) or
any part thereof,
then suoh sum or the remainder so unpaid is to be added to the
amount
to be paid thereunder In the succeeding year or years before any
payments
are made under subdivisions (2) and (3).
Under the mortgage of the Chicago company
(compare bond offering
last week, page 1410) the outstanding $9,000,000 bonds have
been, ana
all future issues will be, limited to 50% of the actual cost of additions and
improvement*.—Y. It, p. 1410, 224.
Chicago Memphis & Gulf RR.—New Mortgage.—A new
mortgage, we are informed, is now being drafted to the
Bankers1 Trust Co. of New York, as trustee, to secure an
[Yol.
LXXXX.
authorized issue of $10,000,000 first
mortgage 40-year
$1,000 gold bonds, dated Jan. 1 1940; interest (J. & J.) not
to exceed 5%, of which
$350,000 5s will be issued to retire
the $250,000
outstanding bonds under the mortgage of 1907
and all other indebtedness.
The new bonds are subject to
call at 105 after Jan. 1 1912.
The company
was Incorporated in Tennessee Dec. 22 1904 as the
Dyersburg Northern RR.
By charter amendment Nov. l 1909 the name was
changed to Chicago Memphis & Gulf RR.
Line of road In
Dyersburg to Tiptonville, Tenn., 31 miles, operation commenced operation:
July 1907
The road traverses very rich
agricultural and timber territory in the
Mississippi Valley heretofore without railroad accommodation.
Many
lumber and oil mills of large capacity have been
constructed along the line
of the road within the last
year.
The proposed extension from Tiptonville,
Tenn., to Hickman, Ky., 21 miles, will be completed
early in 1910. * Equip¬
ment: Locomotives, 4; freight
cars,‘60; passenger cars, 3.
Capital stock:
authorized, $1,000,000; outstanding, $300,000;
par, $100.
Earnings.—The earnings for
recent periods
were:
Oper.
Net
Ini. &
Bal.,
Earns.
Exp.
Taxes.
Sur.
July 1 to Oct. 31 1909
$35,621
$20,508
$15,113
$6,259
$8,854
Year ending June 30 1909
68,113
39,536
28,577
18,785
9,792
Year ending June 30 1908
57,693
32,880
24,813
17,663
7,150
Officers: S. G. Latta, Pres. & Gen. Mgr.; E.
Rice, VIce-Pres. & Sec..
Dyersburg, Tenn.; J. H. Watkins, Vice-Pres., 2 Wall St., New York; J. CDoyle, Treas., Dyersburg, Tenn., all of whom, with W. A. Buckner of
New York are directors.
General office, Dyersburg, Tenn.
Compare
V. 89. p. 1279, 993.
Gross
Earns.
Chicago Milwaukee & St. Paul Ry.—Listed in London.—
Exchange recently granted a quotation
to the $28,000,000 25-year
4% gold bonds of 1909.—V. 89,
The London Stock
1667, 1596.
p.
Chicago Rock Island & Pacific Ry.—Sale of Bonds—
Description.—Speyer & Co. have purchased from
the
com-
“first1 1934,
mortgage” 4% gold
Eany
and refunding
onds $3,500,000
maturing April
issued for improvements.
The
entire amount of bonds will be offered for
public
in London
only by Speyer Bros.
subscription
Abstract of Letter from President H. V. Mudge, Chicago, Jan. 3 1910.
These bonds are a direct obligation of the
formed in the year
1880, from which time it has uninterruptedlycompany.
paid dividends, and since
1899 at not less than 5 % per annum.
The bonds are secured (either directly or
through pledge of the entire
Issue of first mortgage bonds) by a first lien on
railway lines aggregating
1,148 miles. Including the line from St. Louis to Kansas
City, on terminal
properties in St. Paul and Minneapolis, on shops at Sllvls, near East
Moline, Ill., and on valuable equipment; also by a lien (subject to existing
mortgages) on all the lines of the company aggregating (exclusive of leased
lines and trackage) 5,708 miles.
The company on June 30 1909
operated
8,048 miles in a field with St. Paul and Minneapolis on the
north, tne Gulf
States (with physical connection to Galveston) on the
south, with Chicago.
St. Louis ana Memphis on the east and Denver on the west.
Issue Limited to $163,000,000—Amount Issued
(Including the Bonds Now
Offered), $83,422,000, as Below.
Refunding purposes
$28,104,000 | Acquis, of prop, or secur_$22,818,000
General corp. purposes.
15,000,0001 Improvements
17,500,000
Of the remaining $79,578,000 bonds authorized under the
mortgage,
_
$53,921,000
can
only be issued against underlying bonds, $13,500,000 to
Eay
of the purchase
of bonds of other
companies, as pre¬
the
for 75%
of $12,157,000
alance
bonds price
for improvements
and acquisitions and
scribed in the mortgage.
Earnings of Company for Fiscal Years ended June 30.
1909.
1908.
1907.
1906.
1905.
Aver, miles oper.
8,026
7,969
7,780
7,218
7,232
$
$
$
$
$
Gross oper. rev-.61,184,887 58,484,197 60,238,420 51,237,858
44,051,509
Total net income.18,882,863 16,476,650 19,939,460 17,186,637
14,519,471
Deduct—Taxes__ 2,270,865
1,789,895
1,676,038
1,631,890
1,609,989
Int.,rentals, &cl 0,44 5,767 9,968,653 9,512,905 8,768,915 8,176,873
Surplus for divs_ 6,166,231
4,718,102
8,750,517
6,785,832
4,733,109
For the five months ended Nov. 30 1909 the total operating revenue was
an increase of $3,207,721, and after deducting
operating
expenses the net operating revenue was $10,077,074, an increase of $1,906,234 over the five months ended Nov. 30 1908.—V. 89, p. 1596.
$29,651,036,
Chicago Terminal Transfer RR.—Sold.—At foreclosure in
Chicago on Thursday the property was bid in for $16,000,000
($860,000 more than the upset price) by General Solicitor
Preston of the Baltimore & Ohio RR., the only bidder.
Judge Kohlsaat in the United States Circuit Court had on the previous
day denied the application of the minority common stockholders to inter¬
(V. 89, p. 1347).
Their attorney protested against the sale, giving
notice that an appeal had been taken to the United States Circuit Court of
Appeals.—V. 89, p. 1347, 1141.
vene
Cleveland Cincinnati Chicago & St. Louis Ry.—Dividends
on Common Stock.—After a
lapse of nearly two
years, distributions on the common stock ($47,056,300; have
been resumed with the declaration of a semi-annual dividend
of 2%, payable March 1 to holders of record Feb. 7.
Resumed
DIVIDENDS.—
Common
--%
Preferred
%
—V. 89, p. 1347. 1279.
*96. ’97. ’98. ’99. ’00. ’01. '02 to’07. ’08. ’09.
0
0
0
0
3
3^4 yearly. 1
0
5
2H 5
5
5
5
5 yearly. 5
5
Commonwealth Power,
Railway & Light Co.—Amalga¬
mation Plan.—Hodenpyl, Walbridge & Co., New York; E. W.
Clark & Co., Philadelphia, and W. A. Foote, Jaekson, Mich.,
have joined to form, without compensation, a syndicate for
the purpose of uniting their interests in Michigan, represented
by the ownership of all
companies:
or
part of the stocks in the following:
Commonwealth Power Co.
(V. 89, Flint Electric Co.,
Flint Gas Co. (V. 79, p. 2591),
921),
Grand Rapids-Muskegon Power Co. Cadillac Water & Light Co. (V. 81
(see below),
p. 1495),
p.
Saginaw-Bay City Ry. & Light Co.,
Grand Rapids
749).
Charlotte Electric Co.
(V. 84, p. Shiawassee Light & Power Co.
Au Sable River property & rights.
Michigan Light Co. (see below),
The above-named companies represent: (1) Water powers, developed
and undeveloped, on the Muskegon River, Kalamazoo River and Grand
River, and a large amount of undeveloped power on the Au Sable River.
(2) Electric light and power business in Grand Rapids, Saginaw, Bay City,
Kalamazoo, Battle Creek, Jackson, Flint, Pontiac, Cadillac and a number
of Intermediate towns.
(3) Electric railway business In Grand
Rapids,
Saginaw and Bay City and between Saginaw and Bay City.
(4) Gao busi¬
ness in Kalamazoo, Jackson, Pontiac, Saginaw, Bay City and Flint.
Work has already been commenced on the first development of 12,000
horse power on the Au Sable River and on the building of a transmission
line to Bay City, Saginaw and Flint, which should be oompleted and
ready
for the delivery of power by the end of the year 1910.
In the territory in which these properties are located, there are many
thrifty, rapidly-growing cities, towns and villages, and the development of
the Au Sable River in the eastern part of the State and of the
Muskegon
River in the western part of the State will greatly stimulate the manufac¬
turing business of Michigan.
Ry. Co.
JAN. 8
It Is proposed that all of the power and electric distribution properties
(excepting Cadillac) shall be owned by a company to be known as the Con¬
sumers' Power Co.\ the street railway In Grand Rapids by the Grand Rapids
Railway Co.; the street railways in and between Saginaw and Bay City by
the Saginaw-Bay City Railway Co.; the gas properties by the Michigan Light
Co., and the property in Cadillac by the Cadillac Water & Light Co., and
that the common stocks of all of these companies shall be owned by the
Commonwealth Power, Railway & Light Co., to be organized under the laws
of the State of Maine or such other State as counsel may advise.
Proposed Capitalization of Commonwealth Power, Railway & Light Company.
Bonds (direct obligations)
None.
Preferred stock, 6% cumulative (par of shares $100)
_$6,000,000
Common stock (par of shares $100).
12,000,000
The above to be Issued for acquisition of common stocks of the Consum¬
ers’ Power Co., Grand Rpaids Railway Co., Saginaw-Bay City Railway Co.,
Michigan Light Co. and the Cadillac Water & Light Co., and for $1,150,000
In cash and for $300,000 of Consumers’ Power Co. 6% preferred stock and
$2QO,000 of the Michigan Light Co. 6% preferred stock, which will be In
the treasury of the Commonwealth Power, Railway & Light Co., available
for the future purposes of the company.
Earnings of Constituent Companies for Cal. Year 1909 (2 Mos. est.).
Gross earnings
$4,487,177
-
Operating
2,317,561
expenses
Net from operations
Less taxes and interest on $16,677,000
outstanding bonds of
$2,169,616
con¬
stituent companies
Deduct dividends on $6,894,000 of preferred stock of
constituent
companies, outstanding, not owned by the Commonwealth
Power, Railway & Light Co
1,049,373
398,64 0
Balance available to the Commonwealth P., Ry. & Lt. Co
Deduct dividend on $6,000,000 Commonwealth Power, Railway
& Light Co. 6% preferred stock
$721,603
Balance
It will be noted that the earnings of this company at the
tlon will be double the dividends on Its preferred stock.
$361,603
To Be Purchased by Syndicate
360,000
time of organlza -
if Plan Herein Proposed Is Declared Operative.
Bonds of Consumers’ Power Co
$2,679,000
Preferred 6% stock of Consumers’ Power Co
1,119,000
Preferred 6% stock of Michigan Light Co
694,000
Preferred 6% stock of Commonwealth Power, Ry. & Light Co__ 1,700,000
The aggregate consideration for these securities, $5,924,000 cash, is re-
aulred
for the
consummation
of the
plan; to provide
moneyofrequired
for
present floating
Indebtedness;
properties;
quldation
of all
for purchase
for additions and Improvements, and for working capital.
The company will have In Its treasury: Cash, $1,150,000; Consumers’
Power Co. 6% pref. stock, $300,000; Mich. Lt. Co. 6% pref. stk., $200,000.
Deposit of Stocks.—The syndicate now has under Its control the stocks of
all companies concerned in the above plan except four. In which, however,
the members of the syndicate hold a large interest.
The holder of any of
said stocks not controlled may, on or before Jan. 15 1910, deposit his certlflcate of stock, duly endorsed In blank and properly witnessed, with any
of the depositaries herelnfater named, and accept such depositary’s tem¬
porary negotiable receipt, calling for the delivery of new securities under
this plan, as follows:
Stock to be deposited—
Commonwealth Power, Ry. & Lt. Co.
For Commonwealth Power Co. com. stock
125% common stock
For Grand Rapids-Muskegon Power Co. com. stock. .125% common stock
For Saginaw-Bay City Ry. & Lt. Co. stock. .40% pref. stk. & 60% com.stk.
For Grand Rapids Ry. Co. com. stock..90% pref. stock and 90% com. stk.
If all of the above stocks are exchanged, the issue of securities of the
Commonwealth Power, Railway & Light Co. therefor will
be $3,000,000 of
pref. stock and $7,350,000 of com. stock, the balance of the stock of that
company being Issued for the other properties acquired, for cash paid In
for securities purchased and In consideration of the obligations assumed
by the syndicate. The depositaries are the Bankers Trust Co., New York;
the Trust Co. of North America, Philadelphia: and the Michigan Trust Co.,
Grand Rapids, Mich.
Due consideration has been given to the earning power. Indebtedness,
•capitalization, good-will and all other questions affecting the several prop¬
erties, and the syndicate believes that the plan herein presented Is Just and
equitable to all parties concerned.
Unless the plan Is declared operative by April 1 1910, the depositors
shall be entitled to the return of the deposited stocks.
Denver City
Tramway Co.—Bonds Offered.—Clark, Dodge
& Co., New York, the International Trust Co., Denver, and
E. W. Clark & Co., Philadelphia, Pa., are offering by ad¬
vertisement on another page at 96J/o and interest, yielding
5}4%j the unsold portion of 81,219,000 “first and refunding
sinking fund mortgage 25-year 5% gold bonds”; outstanding,
$3,067,000. Dated 1908 and due Nov. 1 1933, but callable
as a whole, but not in
part, except for sinking fund, at 105
and interest on any interest period from and including
May 1 1914 to and including Nov. 1 1923, and thereafter at
102and interest upoD 60 days’ notice.
Interest payable
M. & N. at Mercantile Trust Co. of New York, trustee, and
at office of company, Denver.
See map of the company’s
tines on page 38 of the “Electric Railway Section.”
Extracts from Letter of President Wm. G. Evans, New York, Jan. 1 1910.
franchises and property of The
and operates the entire street
railway system of the city, consisting of 197 miles of track, and serving a
population conservatively estimated at 200,000.
The Denver & North¬
western Railway Co. owns 26 miles of electric railway between Denver and
the neighboring towns of Arvada and Golden and the coal mines of Leyden;
-also valuable terminal rights for transporting coal and other freight to the
These bonds are secured upon all the
Denver City Tramway Co., which owns
business center of Denver.
The two companies are operating as one
system, making the present total mileage of the system 223 miles.
Limited to $25,000,000—$11,864,800 Reserved to Retire $10,496,000 Existing Bonds of the System and $3,067,000
Outstanding.
Reserved to retire $4,120,000 prior lien bonds of Denver City
Tramway Co. ($953,000 Metropolitan Ry. Co. 1st 6s, Jan. 1
1911; $2,000,000 Denver City Tramway Co. 1st 5s, April 1
1919; and $1,167,000 Denver Consol. Tramway Co. first cons.
5s, Oct. 1 1933)
$4,120,000
Reserved to retire $6,000,000 bonds of Denver & Northwestern
Ry. Co
6,300,000
Reserved to retire $1,376,000 1st 5s of Denver Tramway Power
Bond Issue,
Co.
(covering
power
plant, &c., that cost about $1,500,000 and
supplies current to the system
1,444,800
Issued to refund $498,000 at par 1st M. 6s of Denver Tramway
Co. paid July 1 1908 and $1,350,000 to replace a portion of
$1,600,000 cash expended upon substantial additions to prop¬
erty, including 22 miles of main line
1,848,000
Present issue to retire an equal number of underlying 6% bonds
matured Jan. 1 1910
1,219,000
The bonds remaining unissued, 1. e., $10,068,200, can be Issued for future
additions and permanent improvements at the rate of 85% of the actual
cash so invested, but they can only be used for such purpose to the principal
amount of $350,000 In any one year until the $6,000,000 Denver & N. W.
bonds have been canceled, and thereafter only when the net earnings
applicable to Interest for the 12 months preceding such proposed Issue have
been at least 150% of the annual Interest upon all the bonds of the company
then outstanding, Including those then proposed
to be Issued.
The mortgage provides for an annual sinking fund of 1 % of the par value
of the bonds outstanding, from Nov. 1 1914 to Nov. 1 1923, and thereafter
2%, Interest on the bonds so retired to be added to the sinking fund.
Earnings of The Denver City Tramway System for Calendar
Gross earnings.
Net earnings.
_ _
Surplus
109
THE CHRONICLE
1910.]
(December Partly Estimated).
__$3,368.661 ICharges, incl. taxes and
franchise payments
1,690,545 [
Year 1909
$990,544
700,001
The operating expenses for 1909 included $57,777 incurred mainly in
removing old cable tracks and conduits from city streets and replacing them
with
new
tracks.
Statement
Showing Steady Increase in Annual Earnings.
1907.
1904.
1902.
1908.
Gross
$3,368,661 $3,152,567 $2,913,650 $2,040,146 $1,702,958
Net
1,690,545
1,637,325
1,538,813
964,943
662,646
Franchises.—The company operates its lines within the city under
franchises which are without time limit, and which in 1907 were held by
the United States Circuit Court to be valid in any event during the chartered
1909 (Dec.est.)
lifetime of the company—that is, until 1935—the Court in no way passing
upon the validity of the franchises beyond that period.
Opinions of the
Hon John F. Dillon of New York and other able attorneys show clearly
the validity of this franchise in perpetuity.
The former franchise rights
having been questioned, and not then adjudicated, the tax-paying electors
voted in May 1906, and the company accepted, a 20-year grant covering
all its lines within the city and providing for needed additions and extensions
This franchise expressly reserves to the company all its rights
thereto.
under former franchises, which have since been held valid, as above stated.
The city has a population estimated at more than 200,000 and is growing
rapidly.—V. 89. p. 1596.
(Tex.) Electric Co.—New Stock.—The preferred
recently increased from $500,000 to $800,000 on
The new shares were
account of extensions and additions.
offered by Stone .& Webster at 96, yielding the investor
6M% income:—V. 86, p. 1409.
Fairmont & Clarksburg Traction Co.—Earnings.—Hambleton & Co. of Baltimore, who are offering a block of $25,000 of the first mortgage 5% gold bonds, at a price netting
5.20%, report earnings for the 11 months ending Nov. 30:
El Paso
stock was
Other
Insurance
Eond
Balance,
Income.
& taxes,
ir feint.
furplvs.
£388,690
$144,132
$239,277
?41,3C0 ?21,h62 $114,583
353,311
220,340
26,762
14,376
114,585
118,143
Dividends at the rate of 5% annually on the $1,800,000 pel- stock
Issued about June 1908, call for $82,500 for the 11 months.—V. 89, p. 103.
Eleven
Months.
1909-.
1908
Total
oper.carns.
Net
came.
Fitchburg RR.—Stock at Auction.—The 5,500 shares of
preferred stock will be sold at auction at the Real Estate
Exchange in Boston on Jan. 12. Compare Y. 89, p. 1542.
Georgia Southwestern & Gulf RR.—Bonds of Projected
Road on Paris Market.—A press dispatch from Paris states
that the 5% $100 bonds of this long-projected enterprise
have been formally introduced on the Paris Coulisse, or out¬
new
side market.
The company was
incorporated in Georgia in August 1906 with $300,000
capital stock, the Incorporators being W. M. Legg, Macon, Ga.: H. J. Bru¬
ton, Bainbridge, Ga.; W. H. Milton, Marianna, Fla.; E. V. Babcock.
Pittsburgh, Pa.; D. S. Pate, Chicago, III., and others.
In August 1908
a
certificate was filed increasing the authorized stock to $4,000,000.
and in November 1908 a mortgage was filed to the Carnegie Trust Co.
of New Y’ork, as trustee, to secure not exceeding $4,006,000 bonds, is
suable, it is understood, at $20,000 per mile.
In July 1908 the company’s
consulting engineer, T. H. Hazelrigg, 126 East Market St., Indianapolis,
Ind., was quoted as saying that the company planned to build a line 160
miles long from Albany, Ga., southwest to St. Andrews Bay, Fla., on the
Gulf of Mexico, via Colquit and Dona ids rnville, Ga., and Marianna, Fla.,
with a branch to Dawson, Ga.
"Government engineers," he also said,
"are making a survey of St. Andrews Bay with a view to Improving the
harbor to meet possible necessity to accommodate the anticipated needs of
traffic."
A provisional contract for construction and equipment has been
awarded the contractors, being the St. Andrews Construction Co. of Macon,
Ga., H. J. Bruton, President.
The directors of the railway are W. M. Legg, President, 53 1 Washington
Ave.. Macon, Ga.,' T. J. Shingler, Vice-Pres., Donaldsonville, Ga.; H. J.
Bruton, Sec. and Treas.; S. D. Cherry, Donaldsonville, Ga.: R. A. Lytle,
A. H. Russell and W. H. Milton, Marianna, Fla.
Groveton Lufkin & Northern
Ry.—Bonds.—The company
applied to the Texas Railroad Commission for authority
register $437,000 bonds and $50,000 stock on 21.2 miles
has
to
of track between Groveton and Vair.
The road has been completed from Groveton, Tex., to Lufkin, 36 miles.
The company was Incorporated Aug. 17 1908 with $50,000 authorized
stock, of which at last accounts $38,000 had been paid In.
Pres., D. J.
Batchelder, Chicago, Ill.; Vice-Pres., J. C. Anderson; Sec., J. A. Platt;
Treas., L. P. Atmar, all of Groveton, Tex.
Gulf Texas & Western
Ry.—Bonds Authorized.—The cominformed, has received authority from the
Texas Railroad Commission to issue $1,157,000 bonds on
the first section of completed road now in operation, extend¬
ing from Jacksboro to Megargel, 50 miles.
oany,
we are
On Jan. 15 25 miles additional will be completed, making.75 miles in all,
extending from Jacksboro to Olney.
The bonds issued are. part of an
authorized amount of $10,000,000 of 30-year gold 5s, due Nov. 1 1939 but
subject to call at 105 and interest on 30 days’ notice; interest payable May 1
and Nov. 1 at the Metropolitan Trust Cq., New York, trustee.
Compare
V. 89, p. 1223, 993.
Holmesburg Tacony & Frankford Electric Ry., Philadel¬
phia.—Deposits of First Mortgage Bonds.—More than a ma¬
jority of the above issue having been deposited with the
Fidelity Trust Co., Philadelphia, depository, the time for
deposits has been extended until Jan. 10 1910, after which
date no bonds will be received excepting at discretion of
the committee and under such
committee
now
includes:
penalty
as
it
may
fix.
The
W. L. Haehnlen, Chairman, of Charles Fearon & Co., bankers; Lewis A.
Balz, Vice-Pres. Penna. Co. for Ins., &c.; Edward L. Blabon, of the Geo.
W. Blabon Co., and Jos. McMorris, Sec.
delphia.—V. 89, p. 1483.
Fidelity Trust Go., all of Phila¬
Honduras
National RR.—Financing.—Le Roy Ferry,
Broadway, N. Y., announced on Dec. 27 that he had
entered into an agreement on behalf of the company with a
London syndicate to provide the funds needed for the com¬
pletion of this road, probably within two years from Feb. 1
1910, from Truxillo, on the Atlantic Coast, to Tegucigalpa,
the capital, &c., 350 miles.
The mountains on the west
coast are thought to prohibit an extension to the Pacific
Coast.
The company is an Arizona corporation with $10,000,000 of authorized capital stock and a bonded debt con¬
sisting of $5,000,000 1st mtge. 30-year 6% bonds. The fol¬
lowing has been published:
49
The company was organized in 1908 by Vice-President Charles W. Fair¬
banks and nls three brothers, and under the concession granted them has
the right to select a million acres of land anywhere within ten miles of the
proposed line in alternate blocks of 1,000 acres each, and will own the land
In fee simple.
It is the plan to select practically all of the land in the
Aguan Valley, which is heavily timbered with hardwoods, such as cedar,
mahogany and other valuable woods. The several concessions obtained
provide for the occupancy of the water front at Truxillo, the free importa¬
tion of construction materials and exclusive banking privileges at every
110
THE CHRONICLE
point touched by the lines. Including Truxlllo and Tegucigalpa. The con¬
cession provides that at the end of 25 years the Honduras Government
may
take over the road by paying its assessed value for It.
It is intended to
establish a line of steamers to New Orleans.
L. M. Fairbanks of Mansfield, Ill., is President;
Spencer Pugh of Chi¬
cago is Secretary; Franklin O. King of Chicago, Treasurer, and L. T. Westrich of St. Louis, General Manager. C. W. Fairbanks and two of his other
brothers are interested.
The territory to be penetrated is practically virgin and is reported to be
exceedingly rich in gold, silver, copper, iron and mahogany, with evidences
of coal and petroleum.
The track Is to be standard gauge, of 70-lb. steel.
Considerable rock excavating will be necessary. Truxlllo has natural har¬
bor advantages, with good anchorage for
deep-draft steamers. The only
other railroads in the country are one of about 60 miles from Puerto Cortez
to El Pimlentl, the other owned by Vaccaro Brothers of New
Orleans,
about 25 or 30 miles long.
There la a difference of about 7 points in the accumulation of the
existing classes of preferred, which will probably be taken care of,
either by pro-rating a little larger percentage of one of the new Issues to
the old preferred stockholders, or
possibly In some other way.—
V. 89, p. 721.
two
Louisville & Nashville BB.—Payment of Notes.—The com¬
pany began paying on presentation at par and interest to
date of payment at its office, 71
Broadway, the remainder
of its $6,500,000 issue of 5%
3-year gold notes, due March 1
1910.
A large part of the issue had
already been retired
(V. 89, p. 928, 929).—V. 89, p. 1597.
Metropolitan Street By., New Tork.—Suit Over Lease of
Fourth
Hudson & Manhattan BE.—Increasing Traffic.—The Hud¬
tunnel system carried 4,053,586 passengers in December,
Avenue Road.—The directors of the New York Central
& Harlem RR. have filed a petition in the U. S. Circuit Court
asking that the Court direct the receivers of the Metropolitan
company either to surrender the lease of the Fourth and Madi¬
son Avenue line or assume the
unpaid franchise taxes and all
the obligations of the lease of 1896 for a term of 999
years.
The petition came up for a
hearing before Judge Lacombe
on Dec. 17.
which is an increase over the number carried in August last,
the first month of the operation of the present
system, of
of 1910.
An authoritative statement further says:
On the basis of the December business of the tunnels and with abou’
80% of the space in the Hudson Terminal Buildings now rented, the com.
pany will earn its full fixed charges for the current year.
In Dec. 1908
when only the line between Hoboken and 23d St. and 6th Ave. was In
op¬
eration, and the number of passengers carried was 1,407,808, last month
the present system carried 4,053,586 passengers, being an Increase of over
190%. Should the traffic continue to Increase at the rate of 10% per
month, as during the past five months, a surplus on the common stock
will soon be earned.
Compare V. 89, p. 1411, 1280, 1347.
Kansas City Mexico & Orient By.—Bonds.—The Texas
Railroad Commission has been requested to “register,” as
required by the Texas law, an additional $1,065,000 bonds
on 239 milesfromSan
Angelo, Tex., north to the State Line.
The company has secured the registration of 82,883,000 bonds on the
mileage In question, part of which was authorized at a low valuation at a
time When the Commission’s engineer could not make the inspection.
A
press dispatch says:
“The company was authorized to Issue bonds to the
amount of 320,000 per mile on 549 miles from Red River to the Rio
Grande,
a total of $10,984,400.
The value represented In to-day’s application Is
about $17,587 per mile, and the right Is reserved to apply for the remainder
of the $20,000.”
Line to Del Rio, Texas.—The citizens of Del Rio, Tex., on
Dec. 21 accepted the contract to subscribe for
$200,000 of
the company's first mortgage gold 4s in consideration of
which the company is to complete a line from San
Angelo
to Del Rio (about 140 miles) prior to
Jan. 1 1913. The
building of this line
was
and Dickinson.
recommended by
Messrs. Odell
Excerpts from Report of John F. Wallace, Dated Dec. 31 1909.
I have carefully examined and checked the
report of Messrs. Dickinson
and Odell and have made a careful examination of all
the property and
lines in operation, with the single
exception of the short section near
Topolobampo, with a view to determining the prospects and earning ca¬
pacity of the enterprise.
In relation to the topography of the
country, the line has been well
located, combining a low interest charge with a minimum cost of mainte¬
nance and operation.
The mountain location of that part of the railroad
now in operation over the Continental
Divide is particularly remarkable
for its entire freedom from snowsheds,
tunnels, expensive bridges or via¬
ducts, high embankments and deep excavations.
The entire line passes
through a territory from Kansas City to the Rio Grande, a distance of over
1,000 miles, capable of highest agricultural
development. The line from
the Rio Grande River to the Gulf of California
passes through the most
highly mineralized portion of Mexico and should yield a large business,
not only from the products of forests and
mines, but also from its possible
agricultural development.
The railway when completed will connect
with all the important railway systems in Mexico and
will form the short
and economical channel between Mexico and
the central West.
The shortening of the distance from the
Mississippi Valley to the Pacific
Coast is an important factor and the
ability of the
at Topolobampo for less than one-half the cost of railway to furnish coal
coaling vessels engaged
in the international ocean traffic at Panama or
Colon will cause Topolo¬
bampo to be the logical port of call for all vessels engaged either in the
Orient trade or between Panama and San Francisco.
The establishment
of Topolobampo as a port of call will
naturally build up a heavy export
and import trade in connection with the business
of the Mississippi Valley.
that
our population has increased
approximately three¬
century, and that the undeveloped agricultural territory
what existed at that time, the rapidity
with which the
the Orient Railway will be taken up and occupied with
an aggressive, industrious
population can readily be appreciated.
My conclusion is that the report of Messrs. Dickinson and Odell is more
than conservative and that the coal traffic which
must surely accrue to
the Orient Railway should be added to their
estimate of earnings.
I
would therefore venture the prediction that within a
year after the entire
system is completed and properly equipped to
economically handle the
business which will come to it, the net
earnings will amount to at least
$5,000,000 per annum, with an average annual
increasing ratio of at least
5% thereafter.
Mr. Wallace
ATow Vice-President.—John F.
Wallace, New
York, who made the foregoing statement, has been elected
a Vice-President.—V.
89, p. 1668, 778.
Kansas City-Western By.—Report.—For
year
ending
June 30:
Fiscal
Year—
1908-09
1907-08
—V. 89. p. 1483.
Gross
Net {after
Other
Total
earns.
taxes.)
$128,768
123,871
income
deduc's.
$918
$82,441
$349,355
330,651
477
81,321
Balance,
surplus.
$47,245
43,027
Lake Shore Electric By.,
Adjusting the Dividends
on
Cleveland, O.—Plan for RePreferred Stocks.—The directors
Dec. 21 appointed a committee of three to work
out, prior
to the annual stockholders'
meeting on Jan. 25 1910, a plan
for the readjustment of the accumulated dividends on
the
$3,000,000 preferred stock, which consists of $1,500,000, with
on
5% accumulation from Oct.
accumulation since March 1
1
1901, and$1,500,000, with5%
1903.
The plan which the committee has in mind is to issue in
lieu of the
present $3,000,000 preferred stock new issues as follows: $1,000,000
6%
cumulative preferred and $2,000,000 5% non-cumulatlve
preferred.
The
new shares would be issued in exchange
for the present preferred on the
basts of 33 1-3% of rew 6% cumulative and 66
2-3% of new 5% non-cumu¬
The receivers have paid the $400,000 annual rental under the terms
of
the lease as it fell due, but have not
paid the arrears of franchise taxes.
These, with penalties for non-payment, the directors of the New York &
Harlem company state in their petition foot
up to $1,000,000, in settle¬
ment of which it will in all
probability be necessary to pay not less than
$700,000.
(Compare New York & Harlem RR. Item, V. 88, p. 749.)
The New York 8s Harlem RR. on Nov. 19, In order to
protect that com¬
pany’s interests, turned over $400,000 to the Collector of Arrears and Assess¬
ments on account of the payment of these taxes to
prevent the sale of the
line.
The directors of the New York & Harlem
company In their
recite the inability of the Metropolitan receivers to take care of these petition
charges
but state that they wish first of all to have the receivers
pay back the
$400,000 advanced to prevent the sale, and to have this made
a condition
precedent to the retention of the line in the Metropolitan system. The
matter has been under negotiation between the receivers
and a committee
of New York 8c Harlem directors.
The receivers state they are not in a
position to make any decision on the question of the franchise taxes inas¬
much as these taxes are In litigation.
The receivers say that they have
been operating the lines for some time at a loss,
owing to the heavy rentals
under the lease, but that they do not wish to
disintegrate the system any
further and had therefore retained the lease.
Defaulted Rental Payments.—Oren Root, General Manager
for the receivers, on
Wednesday issued a statement of all
the interest and dividend rentals that have been defaulted
by the company and
amounting to about $15,000,000.
roads, which are
operated under separate receiverships, the receivers having
paid the interest on some of the bonds.—Y. 89, p. 1483,
now
This includes the Third and Second Avenue
1347.
Mt.
Report of Experts—Estimated Earnings.—An abstract of
the report of Messrs. Odell and Dickinson will be found under
“Annual Reports." As a supplement thereto there has
been published a statement from John F.
Wallace, formerly
General Manager of the Illinois Central RR., later First Chief
Engineer of the Panama Canal, and now Chairman of the
board of directors for Westinghouse, Church, Kerr & Co.
Bearing in mind
fold in the last half
is less than 5% of
tillable lands along
LXXXX.
latlve.
son
52%, or an average increase of over 10% per month, al¬
though two of the most important stations, namely at 33d
St. and Broadway, New York, and at Newark and Railroad
avenues in Jersey City, will not be
completed until the fall
[VOL.
Airy & Eastern By.—Sale Jan. 15.—Receivers E. M.
Wiley and J. A. Wiley will offer the property at auction at
Mt. Airy on Jan. 15.
The decree of sale was made In the case of W. W.
Whyte and others vs.
the Railway Co. and others in the U. S. Circuit Court for the Western
Dis¬
trict of North Carolina on Dec. 1 1909.
The road extends from Mt. Airy,
N. C., to KIbler, Patrick County, Va., 19 miles.—V.
87, p. 1533.
Muskegon Grand Bapids & Indiana BB.—Coupon Pay¬
ment-Coupon No. 46, due July 1 1909, is now being paid at
the office of Winslow, Lanier & Co.
The surplus Aug. 1
1909, after paying coupon No. 45, was $153; the net earnings
for the three months—August to
October, inclusive—were
$19,190; total, $19,342; amount required to pay coupon
No. 46, $18,750; surplus as of Nov. 1 1909, $592.—V.
89,
p. 919.
Nez
Perce
&
Idaho
BB.—Bonds
Sold.—The
com¬
it is reported, last month arranged to float in Chi¬
subject to the usual legal examination, an issue of
$125,000 bonds, to complete the road extending from Nez
Perce to Yollmer, 12 miles.
pany,
cago,
The company was incorporated Sept. 1 1908 with $500,000 authorized
stock, of which at last accounts $100,400 had been issued.
The grading
and bridges were completed last summer and one mile of track
had been
It is expected to have the line in operation
laid.
by March 1 next. Presi¬
dent and Gen. Mgr., Z. A. Johnson, Nez Perce, Ida.;
Vice-President, C. W.
Felt; Secretary and Treasurer. I. H. Jorgens.
Norfolk & Southern By.—Completion of
Bridge
marle Sound.—The first train over the 6-mile
Over Albe¬
bridge crossing
Albemarle Sound between Edenton, N. C., and
Mackey's
Ferry, was run on Jan. 1. The bridge cost about $900,000.
Compare report of receivers, V. 87, p. 1414.
The bridge takes the place of the present car ferry between these
points,
distance of 9 miles.
It is estimated that passenger trains will gain 1 hour
and 15 minutes and freight trains about 6 hours, and the
company will be
able to carry expeditiously a very much greater volume of traffic than over
the ferry.—V. 89, p. 1542, 1483.
a
Ocean Shore By.,* San Francisco.—$3,000,000 or
$3,500,Receiver’s Certificates Proposed.—The “San Francisco
Chronicle" states that the reorganization plan has failed,
and that for that reason Receiver F. S. Stratton has sent a
circular letter to the bondholders asking co-operation as to
000
proposed issue of $3,000,000 or $3,500,000 receiver's cer¬
completing the road. The letter
says in part:
a
tificates for the purpose of
The completion of the road will necessitate an expenditure of about
$1 ,000,000; a complete and up-to-date equipment sufficient for its needs
$500,000 more.
To complete the purchase of necessary terminals, ap¬
proximately $700,000; the payment of certain necessary interest on loans
secured by hypothecated bonds, certain preferred debts, a limited cost for
maintenance, and payment, at least in part, of interest on receiver’s cer¬
tificates, will aggregate in all, say, about $2,500,000 to $3,000,000.
But
at the hearing In Court I may be obliged to ask leave to incur a debt
of
even
$3,500,000.
The outstanding bonds actually sold amount to $3,000,000.
There are
besides approximately $2,000,000 hypothecated with banks and others for
notes of the corporation.
About $7,000,000, in round figures, has been
expended upon the road. I am of the opinion that if the road was sold
now the purchase price would be insignificant
compared with its true value,
since the road, operating from two ends, but without connection
over an
uncompleted 26-mile gap, is not an attractive Investment; 11 miles of that
gap has been graded and Is ready for the rail.
I am hopeful that the committee representing the bondholders
may see
their way clear to unite with me in this recommendation.- With the
ex-
amount,
thehave
Federal
Eenditure
of and
this all
underwill
supervision
of the and
Court, the
ondholders
concerned
completed
operating rail¬
a
road, with proper terminals and in condition to show its full value and earn¬
ing capacity.
The certificates, if issued, will constitute a first lien.
The
road when fully constructed and equipped will then be in a position for
sale
Jan. 8
1910.]
THE CHRONICLE
reommi£g$iQn, soaato conserve the claims of all interested,
the creditors.—V. 89, p. 1597, 1542.
or
including
Pacific Coast Power Oo.—Dividend Increased.—A semi¬
annual dividend of
23^% has been declared on the com¬
pany's stock, payable Jan. 17 to holders of record Jan. 8,
comparing with 2% semi-annually disbursed since July 1908.
This increases the annual dividend rate from 4 to
5%. Com¬
pare V. 87, p. 38.
Pittsburgh & Westmoreland (Electric) By.—Sale Jan. 10*
—The receivers, Manning Stires and Thomas M. Evans>
502 Fifth Ave., McKeesport, Pa., announce that the
prop¬
erty will be offered at auction at Pittsburgh on Jan. 10.
-
The sale will take place by virtue of a decree of the
Court of Common
Pleas No. 1 of Allegheny County, Pa., at No. 833, December
term, 1908.
The property will be sold subject to a first
mortgage dated Aug. 1 1904
securing $350,000 bonds, of which $25,000 Is collateral to an indebtedness
of approximately $7,000, and unpaid Interest
upon the said bonds approxi¬
mating $75,000, the lien of which mortgage and tne debt and Interest thereby
secured is expressly preserved.
Compare V. 88, p. 565.
Public Service Corporation of New
Jersey.—Bonds and
Earnings of United Electric Co. of N. J.—See that company
under “Industrials" below.—V. 89,
p. 1348, 848.
Quebec & Lake St. John By.—Reorganization Plan—Pro¬
posed Guaranty.—The company, being unable to pay the cou¬
pon Jan. 1 1910 on the first mortgage bonds, substantially
the following plan of reorganization will be submitted to the
holders of the prior lien first
mortgage and income bonds
at the Canon Street Hotel, London, on Jan. 14:
(1) New 4% consolidated perpetual debenture stock, guaranteed both
regards principal and Interest Dy the Canadian Northern Ry. Co., to be
sufficient In amount: (a) To exchange the outstanding prior lien
bonds (£500,000) at the rate of £100 new stock for every £100
prior lien
bonds: (b) to exchange the first mortgage bonds (£442,400) at the rate
of £60 new stock for every £100 first
mortgage bonds; (c) to exchange the
Income bonds (£640,400) at the rate of £10 new stock for
every £100 Income
bonds; (d) to exchange the bonds (£10,000) Issued by the Lake St.
Joseph
Hotel Co. and guaranteed by the Quebec & Lake St. John
Ry. Co., at tne
rate of £100 new stock for every £100 hotel bonds;
(e) to provide for the
present floating debt of the company, and (f) to provide for additional
rolling stock and equipment now required.
Interest on the new stock will
be payable Feb. 1 andT Aug. 1, the first payment for the
period from Feb. 1
1910 to Aug. 1 1910 to be made on the latter date.
(2) In addition to the guaranty of the Canadian Northern
Ry. Co., the
new stock will be secured
by a trust deed constituting the stock a first
mortgage on the whole of the property and undertaking of the Quebec &
Lake St. John Ry. Co., including the Lake St. Joseph
Hotel property.
(3) Power to be reserved to the company, subject to certain qualifica¬
tions, (a) to create charges on any new line of railway hereafter constructed
ranking In front of the new stock, provided such charges are guaranteed
by the Government of the Dominion or by one of the Provinces of Canada;
(b) to create additional new stock (ranking pari passu with the new stock
to be issued as mentioned above) for certain
specified purposes.
[A meeting of first mortgage and income bond holders was held in London
this week for the purpose of co-operating with the General
Investors &
Trustees, Ltd., in opposition to the aforesaid plan.—Ed.]—V. 90, p. 54.
as
created
passed by the
Compare V. 85,
111
Minneapolis City Council
on
Feb. 9 1907.
532.
p.
The Court holds that under the ordinance of July 9 1875, ratified
by the
Act of the Minnesota Legislature on March 4 1879, the
oofflpany secured
the right under contract for 50 years from July
1 1873 to charge 5 cents per
passenger for one continuous trip.
The ordinance of Feb. 9 1907, R is
stated, impairs the obligation of this contract.
It is farther held that the
acceptance of the ordinance of Sept. 19 1890 providing for a change of
motive power from animal to electricity and allowing transfers on payment
of a full 5-cent fare did not have the effect of
abrogating the contract right
to charge a 5-cent fare for one continuous
passage.—V. 90, p. 54.
Wabash RB.—Sale of Part of Road Again Adjourned.—The
sale of the road from Toledo to the Indiana State Line has
been again postponed to Jan. 19.
It is hoped in the meantime to reach
Compton heirs.—V. 90,
p.
a
settlement of the claim with the
55.
INDUSTRIAL, GAS AND MISCELLANEOUS.
Alliance Oil Oo.—See California Petroleum Refineries below.
American Farm Products Co., New York.—Default.—The
interest due Jan. 1 1910 on the $974,000 of 5% debentures
due 1916 remains
Compare V. 89,
unpaid, owing to insufficient earnings.
1349.
Telephone Co.—New Officers.—This com¬
pany , having passed under the control of the new Continental
Telephone & Telegraph Co., recently elected:
p.
American Union
Directors.—Judge Ellis R. Orvis and John Graham of Harrisburg; C. M.
W. Keck, President Allentown Trust Co., S. P. Light, of
Allentown; Henry
O. Evans, of Pittsburgh; John A. Howard and Samuel W.
Harper, of Wheel¬
ing; Herman C. Stifel, of St. Louis, and S. Stan wood Menken, of Philbin,
Beekman, Menken & Griscom, New York, Counsel to the Continental.
Officers.—President, John A. Howard (Pres, of Cont. T. & T.Co.); First
Vice-Pres., Samuel W. Harper, of Wheeling; Second Vice-Pres., Charles
West, and Sec. and Treas., S. R. Caldwell, both of Harrisburg.
[The com¬
pany, it is understood, is operating some 63,000 telephones and has out¬
standing $2,000,000 of pref. stock, $2,700,000 of common stock and $11,000,000 of bonds.]—V. 89, p. 1485, 530.
Atlantic
City Co., New Jersey.—Merger—Bonds.—This
company was incorporated on or about Dec. 24 1909 under
the laws of Delaware by C. H. Geist of
Philadelphia as the
proposed holding company for the Atlantic City Gas Co,,
which is being organized to operate the properties of the At¬
lantic City Gas & Water Co. and the Consumers’ Gas & Fuel
Co., recently purchased by Mr. Geist. A blockfof about
$2,000,000 5% 50-year bonds of the Atlantic City Gas Co.,
part of an authorized issue of $3,000,000, has been purchased
by a syndicate headed by E. B. Smith & Co. of Philadelphia
and New York, and the portion not already sold
by them
privately will probably be offered to the public some time
this month.
The capacity of the plant is to be
largely
Quebec Oriental By.—Proposed Purchase.—Secretary increased.
The capital of the Atlantic City Gas & Water Co. is $750,000 stock and
Elvey announces that the shareholders will meet Jan. $80,000
bonds.
The Consumers’ Fuel & Gas Co. has $700,000 stock and
17 at 87 Strand, London, Eng., for the
purpose of approv¬ $1,000,000 bonds. The capital of the Atlantic City Co. is $5,000,000
common stock and $1,000,000 pref. stock and no bonds.
Of this, $800,000
ing an agreement for the purchase of the railways from Mata- of the
and all of the common stock is to be Issued In exchange for se¬
pedia to Caplin and from Caplin to Paspebiac, in the Prov¬ curitiespref.
of the Atlantic City Gas Co., the new
operating
The
ince of Quebec, heretofore known as the Baie des Chaleurs capital of the Atlantic City Gas Co. will be on the basis of company.
$4,000,000, in¬
and
stock.
cluding
bonds
Section of the Atlantic & Lake Superior Ry. Co.
The directors of the Atlantic City Co. are: Clarence H. Geist, President;
No. 87 Strand is also the London address of the
Joseph A. Slattery, Vice-Pres.; C. W. Fox, Sec., and I. C. Elston, Jr. Treas.;
proposed and
Edmund Mitchell Jr. of Wilmington, Del.
connecting line, the Atlantic Quebec & Western Ry., and
at last accounts Mr.
Atlantic City Gas Co.—Merger.—See Atlantic City Co,
Elvey was also Secretary of that com¬
pany.
(See V. 89, p. 1410.) Compare V. 88, p. 1622.
Atlantic City Gas & Water Co.—Merger.—See Atlantic
San Pedro Los Angeles & Salt Lake BB.—Details of Bonds. City Co. above.—V. 89, p. 1282.
/
—The new mortgage authorized on Dec. 21 last to secure a
Bear Valley Irrigation Co., Redlands, Cal.—Successor
bond issue limited to $60,000,000 of
50-year 4% bonds is Company.—See Bear Valley Mutual Water Co. below.—
made to the Guaranty Trust Co. of New York, as trustee. V. 67, p. 788.
*
Compare V. 89, p. 1142, 1669.
Bear Valley Mutual Water Co., Redlands, Cal.—Status.—
Of the bonds, $48,000,000 have been issued to retire the
$40,000,000
Under date of Sept. 10 1909 one familiar with the facts has
bonds outstanding under the mortgage of 1903, which has been
canceled,
and floating debt Incurred for extensions,
favored
us with the following particulars:
bonds
improvements, &c. The
are dated
E. S.
.
Is
July 1 1909 and are not subject to call before maturity.
Interest
payable Jan. and July 1 at the office of the trustee.—V. 89, p. 1669.
Seaboard
Air
Line
By.—New Equipment Notes.—The
Georgia Railroad Commission on Jan. 4 authorized the com¬
pany to issue $1,380,000 of equipment trust notes in connec¬
tion with the purchase of additional rolling stock.—V.
p.
1669, 1543.
89,
.
Seattle-Tacoma Short Line Electric RB.—New Bonds.—A
mortgage has been filed to Tacoma Trust Co. of Tacoma, as
trustee, covering the proposed line between Seattle and
Tacoma, to secure $3,500,000 of 6% bonds.
E. J. Felt of Tacoma, who is handling the road’s affairs, Is
quoted as
new line will not follow the route originally proposed, but
Instead will use the company’s private of right-of-way between the two
cities.
Deeds to a large portion of this right-of-way traversing the Duwamish Valley have already been placed on record.—V. 89,
p. 412.
saying that the
Sheboygan (Wis.) Light, Power & Ry.—New Bonds.—
The company has asked the Wisconsin Railroad Commission
to sanction the issue of $114,000 5% bonds to cover the cost
of the extensions and improvements. Compare V.
87, p. 615.
Southern Colorado Power & Railway.—Sold.—At the
Sheriff’s sale in Trinidad, Colo., on Dec. 24, the
property
was bid in for
$500,000 by the Northern Securities Co., a
The property of the Bear Valley Irrigation Co. (V. 67, p. 788, 481,
369
bid in free of all liens at foreclosure at San Bernardino, Cal., on Nov. 19
was
1908 for $1,234,530
by the Citizens’ Savings & Trust Go. of Cleveland, O.
(the- mortgage trustee), which held for foreclosure in the Interest of the
owners all of the bonds and receiver’s certificates.
The successor company,
the Bear Valley Mutual Water Co., had been
incorporated under the laws
California
in
of
June 1903 with $2,000,000 authorized capital
stock. In
shares of $20 each (these shares are now selling at $25 each).
Under an
agreement dated Aug. 2 1905 all the users of water of the Bear Valley Irri¬
gation Co. surrendered their claims to the use thereof to the Bear Valley
Mutual Water Co., receiving in exchange stock of the Mutual Water Co.
The Mutual Co. has made an issue of $900,000 first
mortgage 50-year
5% bonds; $600,000 of the bonds were given in payment for the property to
the Citizens’ Savings & Trust Co. for the benefit of the bondholders and
own¬
ers of receiver’s certificates.
The remainder of the issue was to be used for
building new dams for increasing the water supply and for the general
imp ovement of the property.
Mortgage trustee, Title Insurance & Trust
Co. of Los Angeles.
The bonds are dated Jan. 1 1906 and are due In differ¬
ent amounts semi-annually, Jan. 1 1911 to Jan. 1 1951.
This company is not organized for profit, but is strictly a
co-operative
organization.
The expense of maintenance and the principal and interest
on the bonds will be met by assessments on the stockholders or
water users,
who must pay or forfeit their stockholdings, In which case their land would
become valueless for want of water.
H.
Herbert
Garstin is
President;
A. E. Sterling, Vice-Pres.; Fred E.
Hotchkiss, Sec. and Treas.
fCalifornia
Company—
Petroleum
holders of
the stockRefineries.—Sale.—New
(amount outstanding, £165,000,
in
e
£1
shares, listed
on London Stock Exchange) met in London
Dec. 8 to consider a plan for the sale of this
company’s
assets in California to the Alliance Oil Co.,
incorporated under
the laws of Nevada with $3,000,000 authorized
capital stock,
divided into 1,000,000 7% cumulative
preferred shares and
2,000,000 common shares of $1 each. A London author¬
on
temporary holding company, which, on completion of the
reorganization, will turn it over to the Colorado Railway,
Light & Power Co., incorporated in Colorado Dec. 21 1909
with $5,000,000 authorized capital stock.—V.
89, p. 594.
ity says:
Southern Indiana Ry.—Settlement of Walsh Notes Held
by
The consideration which this company will receive Is the sura of £500 in
Chicago Banks—List of Collateral.—See items on “Banks, cash and the allotment of 323,329
preferred shares and 574,165 common
shares fully paid.
Bankers and Trust Co’s" on another page.—V. 89,
The creditors of this company, including the London
p. 226.
directors, for arrears of directors’ fees, have agreed to accept preferen.ee
Twin City Rapid Transit Co.—Favorable Decision
in the Alliance Oil Co., together with a bonus of 50% In common s tock
by U. S. shares
In satisfaction and discharge of their debts.
The Graclosa Oil Co. and its
Supreme Court.—The U. S. Supreme Court on Monday (Judge affiliated
company, the Coast Oil Transport Co., will also be taken over
Day rendering the opinion) handed down a decision affirming by the Alliance Oil Co.—V. 83, p. 1349. 98.
that of Judge Lochren in August 1907, which
Oarlton Consolidated Lumber Co., Oregon.—Bonds
granted a per¬
Of¬
manent injunction prohibiting the
city officials from pub¬ fered.—Farson, Son & Co., New York and Chicago, are offer¬
lishing or enforcing the six-tickets-for-a-quarter ordinance ing at par and interest the entire issue of $650,000 1st
mtge.
112
THE CHRONICLE
6s dated Feb. 1 1910 and due
$65,000 yearly Feb. 1 from 1912
1921, inch, but callable at 103 and interest. Int. F. & A.
in N. Y.
The company’s capital stock is $2,000,000 and its
property, it is stated, is valued at $3,500,000.
Castle Valley Coal Co., Salt Lake City.—Bonds Offered.—
Peabody, Houghteling & Co., Chicago, are offering at par
and interest $350,000 1st mtge. sinking fund 6s, dated Sept. 1
1909 and due $25,000 half-yearly beginning Oct. 1 1910 and
ending April 1 1917. The issue covers plant and railroad
valued, it is said, at ten times the amount of the issue.
Central District & Printing Telegraph Co., Pittsburgh.—
Dividend—Stock Mostly Exchanged.—The directors have de¬
clared a quarterly dividend of 1 %% on the $13,000,000 of
capital stock, payable Jan. 15 to shareholders of record
Dec. 31, comparing with 2% paid Sept. 30 last.
All except
to
215 shares of the stock have been transferred to the American
Telephone & Telegraph Co., per plan in V. 89, p. 227.
Cleveland Electric Illuminating Co.—Bonds Offered.—
Spencer Trask & Co., William and Pine Sts., New York,
are offering by advertisement on another
page, at 103 and
interest, yielding about 4.8%, the unsold portion (less than
$1,000,000) of the present issue of $4,000,000 first mortgage
5% gold bonds dated April 1 1909 and due April 1 1939,
but redeemable on April 1 1924 at 107^ and interest, and
thereafter on any interest date at a price decreasing at the
rate of
y of 1% yearly to maturity.
Interest A. & O.
De¬
nominations $500 and $1,000 (c*).
Free of all taxes which
the company may be required to pay or retain therefrom.
The bankers say in substance:
The authorized issue of these bonds is $30,000,000.
The $4,000,000
bonds now outstanding include an amount sufficient to provide for the re
tirmeut of $1,700,000 first mortgage 5% bonds (old issue) called for pay¬
ment at 110 and int. on April 1 1910
and $1,500,000 first and general
mortgage 6% bonds called for payment at 100 and int. on May 1 1910.
The mortgage securing the new bonds provides that beyond the first
$5,000,000, additional bonds can be issued only to the extent of 80% of
the cost of future improvements or additions, and provided the net earn¬
ings for the preceding year shall be equal to at least twice the amount of the
interest for one year on all of the bonds outstanding, as well as on the bonds
then to be issued.
The property shows a cost Dec. 31 1908 of over $8,310,000. or more than twice the outstanding amount or the new bonds.
The
•outstanding capital stock is row $5,354,400, and regular dividends are
being naid. Tne property, it is stated, could not be reproduced for its
capitalization, including both stock and bonds.
The company has unlimited franchises and the population of the terri¬
tory served by it is conservatively estimated to be at least 525,000.
The
net earnings for 1908 (afterpayment of taxes and insurance) are reported
as $802,338, or equal to over four times the annual Interest on the $4,000,000
bonds now outstanding, and the net earnings to latest date show a substan¬
tial Increase over those for the same period of 1908.
See further particu¬
lars in V. 89, p. 289.
Consumers’ Gas Co. of Toronto.—New Stock.—The
com-
any’s authorized capital stock has been increased from
3,500,000 to $6,000,000.
The new stock will be issued from time to time as requirements of the
company may demand.
It is a condition of the statute under which the
company operates that all new issues of stock shall be sold at public auction
dn lots of ten $50 shares each, the premium realized being placed at the
credit of the company’s rest or reserve fund.
John L. Blaikie is Pres, and
Arthur Hewitt General Manager.—V. 89, p. 922, 1143.
Consumers’ Gas & Fuel Co., Atlantic City,N. J.—Merger.
—See Atlantic City Co. above.—V. 89, p. 1283.
Cuyahoga Telephone Co., Cleveland.—Wo Merger.—In
assurances
from J. P. Morgan & Co. that the
purchases of independent telephone properties in Ohio were
made as a private investment, and not to stifle competition,
Attorney-General Denman has decided that on present evi¬
dence he cannot interfere.—V. 89, p. 1599,
Denver Gas & Electric Co.—Successor Company.—See
Denver Gas <fc Electric Light Co. below.—V. 89, p. 472.
Denver Gas & Electric Light Co.—Yew; Company.—This
company was incorporated in Colorado on Nov. 29 1909 with
$10 ,000,000 of authorized capital stock, in order to take over
the property of the Denver Gas & Electric Co., and has made
a “first and refunding
mortgage” to secure not exceeding
$25,000,000 of 5% gold bonds.
view of the
These bonds are dated Nov. 1 1909 and due Nov. 1 1949, but callable In
.any amounts at 105 on any interest day.
Annual sinking fund, beginning
In 1910, an amount equal to 1% of outstanding bonds.
Int. M. & N. at
Bankers Trust Co. of New York, trustee.
Par $1,000.
Of the issue,
$8,900,000 is reserved to retire prior liens, namely, $8,000,000 bonds of
D. G. & E. Co. and $900,000 bonds of Lacombe Electric Co.
Representa¬
tives of the company in this city last week denied the reported plan to take
over the Northern Colorado Power Co.—V. 89, p. 472.
Deschutes
Irrigation & Power Co.—Payment of Coupons.
9, 10 and 11 of the 6%
bonds, being all of the deferred interest on these bonds up
to Jan. 1, has, it is announced, been provided,and the cou¬
pons will now be paid through the Merchants’ Savings &
Trust Co. of Portland, Ore. The exchange of bonds under
the plan will shortly take place.
See Y. 89, p. 1670.
Edison Electric Illuminating Co. of
Boston.—Subscription
Rights.—The capital stock having been increased from
$13,616,100 to $15,561,300, a circular dated Jan. 5 offers to
shareholders of record Jan. 5 1910 the right to subscribe at
$215 per share on or before Jan. 26 at the Old Colony Trust
Co., Boston, for $1,945,200new stock, to the extent of one
share for every seven shares now held.
Subscriptions are
payable at the aforesaid trust company, $115 per share Feb. 1
and $100 on May 3, or in full Feb. 1 with interest in either
case at 4% per annum on amount paid
on Feb. 1 from that
date to May 3, when the new certificates will be issued.—
V. 90, p. 55.
PEmpire District Electric Go., Kansas-Missouri.—Bonds
Offered.—Williams, McConnell & Coleman, 60 Wall St., New
York, have issued a circular regarding the company’s se¬
curities, for which they state they have a good market.
“The bond offering was so largely oversubscribed that allot¬
ment was made on a 50% basis.
Compare V. 89, p. 595,473.
—The cash needed to pay coupons
[V©L.
LXXXX.
Frontier Telephone Co., Buffalo.—Merger.—See Federal
Telephone & Telegraph Co. under “Annual Reports” on a
preceding page.—V. 88, p. 1004.
Georges Creek Coal & Iron Co., Baltimore.—Sale.—The
shareholders will vote Jan. 15 on aproposition to sell property
of the company at Farmington, W. Va.,
consisting of about
7,000 acres of land, with improvements, to the Jamison Coal
& Coke Co. of Pittsburgh for $500,000 cash and $2,700,000
first mortgage 5% 20-year gold sinking fund bonds; Safe
Deposit & Trust Co. of Baltimore, trustee.
Dividend.—A semi-annual dividend of 2l/2% was paid
Jan. 4 on the $2,500,000 stock (par $100) through John S.
Git tings & Co., Baltimore.—Y. 80, p. 2461.
Granby Consolidated Mining, Smelting & Power Co.,
Ltd.,N. Y.—Option to Subscribe.—A circular dated Jan. 4
offers to shareholders of record Jan. 20 the right to subscribe
at $85 a share (par $100) on or before Feb. 21 for $1,350,000
new stock to the extent of 10% of their
respective holdings,
subscriptions to be payable at the office, 52 Broadway, N. Y.,
either in full on Feb. 21, or one-half Feb. 21 and the remainder
March 21.
The circular further says:
During the past five years this company has expended for mining proper¬
ties, new plant, an interest in the Crows’ Nest Pass Coal Co., and other
items properly chargeable to capital account, upwards of $2,750,000, and
there fs a balance now unpaid upon obligations incurred for these objects
amounting to $875,000.
In resuming the payment of dividends, the direc¬
tors deem it very desirable that the company should be free from debt and
that at least the portion of this expenditure still remaining unpaid should
be capitalized.
Accordingly, they have determined to issue for this purpose
13,500 shares from the stock now remaining in the treasury and offer ft to
the shareholders at a price which shall in some measure compensate them
for the loss of dividends due to the foregoing expenditures.—V. 89, p. 1545,
1345.
Grand
Rapids-Muskegon Power Co.—Bonds—Earnings.—
F. S. Butterworth & Co., New Haven, Conn., are offering
first mortgage 5% gold bonds, dated March 1 1906 and due
March 1 1931.
Interest payable M. & S. at the First Trust
& Savings Bank, Chicago, trustee, or at First National
Bank, New York City.
Capitalization
as
Officially Reported Dec. 22 1909.
Authorized.
Common stock
Preferred stock
(par $100)
(6% cumulative; par $100).
First mortgage bonds (V. 86, p. 172)
Remaining $5,487,000 first mortgage bonds
$1,500,000
1,500,000
7,500,000
are reserved In,
Outstanding.
$1,500,000
1,060,900
2,215,000
escrow under
conservative restrictions of trust deed.
The preferred stock may be redeemed at any time after Dec. 1 1929 at
ar and accrued
dividends.
Semi-annual dividends of 6% per annum
ave been paid on the preferred since July 1 1906.
No dividends have been
paid on common stock.
Earnings for Year ended July 31 1909.
Gross earnings
$336,6601 Ann. Int. charge on 1st 5s._ $98,700
Net earnings after taxes
204,767[Surplus
i
106,067
The company serves a population of more than 175,000. See V. 86, p.172
Plan.—See Commonwealth Power, Railway & Light under
“Railroads” above.—V. 86, p. 172.
Houston (Tex.) Lighting & Power Co.—New Stock.—A
certificate was filed at Austin, Tex., on Dec. 30, increasing
the
capital stock from $1,000,000 to $1,500,000.—V.83,p.40.
Harvester Co.—Dividend Expectations.—
Notwithstanding denials, rumors are still current of an ap¬
proaching distribution of some kind to the common stock¬
International
holders.
A director informed
knowledge of
us
last week that he had
no
plan for capitalizing the company's foreign
investments with a view to distributing the stock as a divi¬
dend or to permit subscriptions therefor at a price below its
intrinsic worth.—V. 89, p. 229.
Inter-Ocean Telephone & Telegraph Co., Buffalo.—Merger.
—See Federal Telephone & Telegraph Co. under “Annual
Reports” on a preceding page.—V. 76, p. 482.
Iroquois Iron Co., Chicago.—Bonds Offered.—Lee, Higginson & Co., New York, Boston and Chicago, and the Illinois
Trust & Savings Bank, Chicago, are offering, by advertise¬
ment on another page, at prices to yield 5 J^% on the invest¬
ment, the unsold part of $2,300,000 first mortgage 5% gold
bonds dated Dec. 1 1909 and due $128,000 annually on Dec. 1
from 1912 to 1928, and $124,000 on Dec. 1 1929, but calla¬
ble as a whole or in part on any interest date at 105 and int.
Interest J.|& D. in Chicago and Boston.
Denominations,
coupon, $500 and $1,000, and registered, $1,000, $5,000 and
$10,000 (c. & r. interchangeable). Trustee, Illinois Trust
& Savings Bank, Chicago.
any
Abstract of Letter from Pres. M. Cochrane Armour. Chicago. Jan. 3 1910. '
History and Plant.—The compauy, which manufactures pi? iron, was
incorporated In Illinois on March 1 1899 and then acquired the property
of the Iroquois Furnace Co., comprising a single blast furnace and about
15 acres of land with 975 feet frontage on the Calumet River, in South Chi¬
cago, afterwards Increased to about 20 acres, on which the present plant
of two furnaces is situated.
The company started with a capital of $600,000.
It has paid $688,500 In cash dividends on its capital stock and has
invested $1,902,750 out of profits In its business and properties, including
the building of a second blast furnace, the reconstruction of the original
furnace, the acquisition of ore reserves and a 29-acre tract of real estate
at the mouth of the Calumet River.
The present capacity is about 180,000
tons of merchantable pig Iron per year.
Independent expert appraisals of the value of the assets which will di¬
rectly secure these bonds are $7,321,128, or more than three times the $2,300,000 bonds now issued.
This Includes the additional properties to be
acquired with the proceeds of the $2,300,000 bonds now sold.
Further¬
more, the net quick assets were $341,253 on Dec. 1 1909, and there has re¬
cently been sola at par $600,000 new capital stock, payable in Installments,
making a net working capital of about $1,000,000, and increasing the out¬
standing capital stock from $2,400,000 to $3,000,000 (the total authorized
Including the proceeds of these bonds and new stock, the total
issue)
assets, after deducting all liabilities except these bonds, should exceed
.
It is estimated that our ore reserves already acquired will
$8,000,000
provide for our consumption from 10 to 15 years, and that further devel¬
opments will at least double this tonnage reserve.
Bonds.—The proceeds of $2,000,000 of these bonds are to be used to con¬
struct and equip two new blast furnaces on the 29-acre tract above men¬
tioned, together with necessary docks and appurtenances.
This will more
than double the present capacity of the plants.
The proceeds of $300,000
bonds are to be similarly set aside and used to acquire and develop additional
iron-ore properties.
The proceeds of the remaining $700,000 bonds, if Issued, must be
placed
in escrow with the trustee and paid out in amounts equal to 60% of the cash
and Improvements, subject to the mortgage, and
only when the net current assets of the oompany, over and above all cur¬
rent liabilities, are at least $600,000, and when the net earnings for the 12
months immediately preceding shall have been at least 2 H times the entire
first mortgage interest charges on bonds outstanding, including interest on
the bonds then sought to be issued.
These $700,000 bonds, if issued, will
mature In equal annual installments of $70,000 on Dec. 1 from 1920 to
1929, inclusive.
Earnings.—The net profits for the 5 fiscal years to April 30 1909 have
been $1,485,969, an average per year of $297,194, which is equal to 2.6
times the interest on these $2,300,000 bonds.
This period includes two
years of unfavorable conditions in the iron industry.
The construction of
the two new furnaces will, In the judgment of the management, more than
double the net earnings as compared with the last five years, and within
two years the average annual net earnings should be at least five times the
oost of future additions
interest
on
these bonds.
Management.—The management is controlled by the Rogers, Brown &
Co. interests, who are probably the largest dealers In pig Iron in the world
and the largest owners and controllers of independent furnaces In the United
States.
The directors are: William A. Rogers, of Buffalo; D. B.Meacham
of Cincinnati and M. Cochrane Armour and E. L. Billingslea of Chicago,
all of the firm of Rogers, Brown & Co.; Samuel A. Kennedy of Chicago,
Gen. Man.; George A. Tripp of Chicago, Sec. and Treas.; D. B. Gamble of
Procter & Gamble Co., Cincinnati; C. H. Schweppe, Lee, Hlgginson & Co.,
Chicago.—V. 90, d. 55.
Jamison Goal & Ooke Co., Pittsburgh, Pa .—Purchase—
New Bond Issue.—An offer calling for a new bond issue has
been made for the Farmington, W. Va., plant] of the Georges
Creek Coal & Iron Co., as stated above.
“Iron Age” says:
The Farmington plant Includes 7,350 acres of the Pittsburgh seam
coal, tipples, shafts, cars, railroad sidings, houses, stores, 800 acres of
surface land and 60 coke ovens.
A second shaft is under construction.
More ovens will be built at once.
The yearly output of the Farmington
plant has been about 400,000 tons.
The Jamison Coal & Coke Co. owns about 6,000 acres of the Pittsburgh
coal In the Greensburg basin of the Connellsville field, and has six
plants there.
It has about 1,400 ovens on the property, and all during the
depression managed to keep most of its mines In operation.
Early in 1909
It purchased 5,400 acres from the Barricksville Coal & Iron Co., and is
putting down two shafts on that property. Following this, it bought from
the Philadelphia & Reading Coal & Iron Co. 1,500 acres, and later bought
seam
600 acres.
Ipurchased gives the Jamison Co. 15,000 acres of
holdings In the low sulphur district of Pennsylvania and West Virginia.
With the cars included in the purchase, the company now has 1,100 steel
cars.
New Stock.—The company on
Dec. 23 1909 filed a certifi¬
capital stock from $3,750,000 to $4,000,000.
Compare V. 88, p. 1133.
|
Kansas Natural |Gas Co.—Change of Officers.—Eugene
Mackey has been elected President to succeed T. N. Bamsdall, and A. B. Macbeth was chosen General Manager, suc¬
ceeding J. C. McDowell. Mr. Bamsdall retains his position
as Chairman of the board of directors.—V. 89, p. 997.
Knox Automobile Go., Springfield, Mass.- -Balance Sheet.
cate of increase of
-Filed in Massachusetts Dec. 15 1909.
Assets ($1,138,487)
Real estate
Liabilities ($1,138,487) —
—
$214,276 Capital stock
218,467 Accounts payable
Machinery
Cash & debts receivable
$858,300
80,545
163,548 Funded debt
35,500
5,000
Supplies, &c
A. N.
542,196 Floating debt
Surplus
Mayo is Treasurer. Compare V. 87, p. 680.
Madison River Power
The mortgage dated Jan. 1 1909 secures, it is understood, $10,000,000
6% 20-year series A bonds and $15,000,000 5% 45-year series B bonds.
Gold dredging is carried on in the Folsom field and at Oroville.—V. 89, p. 48.
New England Cotton Yarn Go.—Dividends Under Lease.—
The company has changed the dividend periods on the com¬
mon stock
from quarterly (Q.—J.) to semi-annual.
Pay¬
ments of $3 75 each will hereafter be made on April 1 and
Oct. 1 under the lease to the Union Mills at a rental of
the common stock.
The usual January dividend of
on
7^%
$1 50 will therefore be omitted.
Three quarterly dividends
preferred stock of $1 50 each have already been de¬
clared, payable Feb. 1, May 1 and Aug. 1 next.—V. 89,
p. 1355, 1284.
on
the
Oxford Linen Mills, North Brookfield, Mass.—Status.—
This Maine corporation, whose capital stock has been widely
advertised for sale, reports its assets to the Massachusetts
authorities as of July 1 as follows:
Assets
July 1—
1909.
$18,000
Real estate
Earnings of Madison River Power Co. for Years ending Oct. 31 1908 and 19091908-09.
1908-09.
1907-08.
1907-08.
Gross Income
$537,278 $405,939 Interest charges..$159,771 $114,120
Net, after taxes.. 362,144
279,615 Surplus
165,495
202,373
Present development on Madison River, 15,000 h. p.; ultimate devel¬
opment, 41,700 h. p.
Owns 281 miles of transmission lines on private
way
in five counties: population about 90,000.—V. 87,
p.
1482.
Michigan Lake Superior Power Go.—New Trustee.—The
Real Estate Trust Co. of Philadelphia has been appointed
trustee under the first mortgage, succeeding the Provident
Life & Trust Co.
Foreclosure proceedings will probably
begin shortly.—V. 88, p. 999.
Michigan Light Go.—Stock Increase.—This company on
Dec. 31 1909 filed an amended certificate of incorporation in¬
creasing its authorized capital stock from $2,250,000 to
$5,500,000, the common being raised from $1,000,000 to
$3,000,000 and the pref. 6% cum. from $1,250,000 to $2,500,000, all the new shares to be issued for acquisition of
properties excepting $356,000 pref and $500,000 common,
which remain in the treasury.
The preferred has received
its full 6% per annum since organization and the common
4% per annum since Jan. 1 1906.
The Jackson Gas Co. (controlled) arranged In September last to Increase
Its stock from $250,000 to $600,000.
Amalgamation Plan.—See Commonwealth Power; Rail¬
Light Co. under “Railroads” above. See V. 81,
V. 80,
p.
655.
Montana Goal ft Coke
Go.—Receivership.—Judge Hunt
of the Federal Court at Helena on Jan. 6 appointed Walter
J. Bradshaw receiver for the company on application by the
International Trust Co. of Boston, trustee under the $1,-
000,000 consolidated mortgage of 1927.—V. 84, p. 1310.
Muncie (Ind.) Electric Light Go.—Bonds—Earnings.—
Pingree, McKinney & Co., Boston, Mass., are offering a
block of first mortgage 5% sinking fund gold bonds dated
July 1 1907, of which $566,000 are outstanding and are guar¬
anteed by American Gas & Electric Co.
Vice-President
R. E. Breed reports:
Earnings for Years ending Oct. 31.
1908-09.
1907-08.
1906-07.
Gross earnings.
$202,290 $168,746 $159,879
Net earnings after taxes
93,781
80,425
83,396
"The net earnings available for bond interest for the 12 months ending
Oct. 31 1909, as shown above, were over three times the annual interest
charge on the $566,000 bonds now outstanding.
The modernized generat¬
ing station when completed will have a total capacity of 7,800 h.p.
The
turbine equipment will effect a great economy In coal consumption.
Capi¬
tal stock authorized. $150,000: issued, $100,000.
Compare V. 86, p. 484.
10,000
Profit and loss
Merchandise
l.
Total assets
.
_
_
8,000
1908.
Assets July 1—
1909.
1908.
$7,800
$18,000 Cash&debts rec. $18,544
751,000
7,000 Pat. rts.,tr. mks.1,411,591
17,400. Treasury stock.. 635,906 1,200,000
5,000
$2,102,041$2,006,206
As offsets there were in 1909 $2,000,000 stock, $37,146 accounts payable
and $64,895 surplus; in 1908 $2,000,000 stock and $6,200 accounts pay¬
able.
The capital stock is described as "full paid and non-assessable,” and
Is divided into:
Series A, $250,000; series B, $250,000; series C, $1,500,000.
Par of all shares, $10.
On June 30 1909 President WInchell stated
that the company had 112 looms In operation and during the past year had
sold “considerably over 1,000,000 towels and several tons of oxolint.”
Pressed Steel Oar Go.—Officers.—O. C. Gayley, Second
Vice-President, has been elected First Vice-President, suc¬
ceeding J. W. Friend. C. W. Friend has been elected a
director to succeed his father.—V. 89, p. 1284, 667.
Rockford (HI.) Electric Co.—Bonds—Earnings.—Pingree,
McKinney & Co., Boston, are offering the “first and refund¬
ing mortgage” 5% gold bonds dated March 1 1909, of which
on July 16 1909 $900,000 were outstanding, including $49,000 reserved to retire Rockford Edison 1st 5s still out.
Earnings for Years ending June 30.
1909.
Bonds—Earning 8.—Parkinson
Go.—Bonds—Earnings.
offering at 993^ and in¬
gold bonds dated 1905,
guaranteed, principal and interest,by the Butte Electric &
Power Co. (V. 88, p. 1623), which owns the entire capital
stock.
Total bonds authorized, $5,000,000; outstanding,
$2,362,000. (V. 87, p. 1482.)
way &
p. 1438;
Extended.—The
representing the 5% debenture bonds and the
6% mortgage bonds, having already obtained control of a
majority of both classes of these bonds, announce that the
time for deposits with Messrs. Speyer & Co. has been ex¬
tended to Jan. 20 1910. Compare V. 90, p. 55; V. 89, p.1672.
Natomas Consolidated of California.—Bonds.—E. F. Wayland & Co., Monadnock Bldg., San Francisco, Cal., in August
last offered a block of the 6% 20-year $1,000 Series A bonds
at $900, saying, “this company is earning three times its
fixed charges.”
;
159,142
& Burr, New York and Boston, are
terest a block of first mortgage 5%
rights of
National Starch Go.—Time for Deposits
committee
Machinery
The property just
railroad
113
THE CHRONICLE
Jan. 8 1910. j
1908.
*
1907
$299,060 $272,502 $178,955
82,963
80,919
98,648
The annual Interest charge on $900,000 bonds outstanding July 16 1909
was $45,000.
Compare V. 88, p. 1442.
Gross earnings
Net earnings after taxes
Rockville-Willimantic Lighting Co.—Second Dividend.—
This company paid on Jan. 1 the second quarterly dividend
of 1 y%% oh its preferred stock.
No. 1, also 1^%, was paid
last October.
As to other, particulars, see V. 89, p. 1672.
.
Rogers-Brown Iron Go.—Bonds,
&c.—The $4,500,000
“first and refunding” 5s sold to William Salomon & Co.,
Brown Bros. & Co. and J. C. Dann & Co. of Buffalo, referred
to in last week’s issue, are part of a total issue of $8,000,000,
of which $2,000,000 are reserved for refunding
purposes, as
stated last week, and $1,500,000 for future additions and
improvements.
The issue will be paid In serial Installments at par and interest, plus
premium of 2 H% on Jan. 1 of each year from Jan. 1 1913 to Jan. 1 1940
Inclusive.
The bonds will be secured by a first lien on the new furnaces
to be constructed by the Rogers-Brown Iron Co., which has also acquired
the property of the Buffalo & Susquehanna Iron Co., and by a sinking fund
of 25c. per ton on upwards of 20.0Q0.000 tons of iron ore.—V. 90, p. 56.
a
Rubber Goods Manufacturing Go.—New President.—
Elisha S. Williams, grand-nephew of Elisha S'. Converse,
founder of the Boston Rubber Shoe Co., has been elected
President of the Rubber Goods Manufacturing Co. to succeed
John J. Wabon, who resigned.—V. 88, p. 948.
Shawinigan Water ft Power Go.—Listed in London.—The
London Stock Exchange has granted a quotation to a further
issue of £205,507
perpetual consolidated mortgage
debenture stock, making the total quoted £616,466, along
with $2,884,500 consol. 1st M. 5s and $6,500,000 stock.—
V. 89, p. 1599.
Sherwin-Williams Go. (Paints, ftc.), Cleveland.—New
Stock.—The limit of authorized capital stock was recently
increased from $6,000,000 to $8,000,000.
Vice-President
and Treasurer S. B. Fenn writes:
The issue of stock referred to is not to be put out at present.
Our usual
dividends, including those of the present year, have been 10% per annum.
The new Issue Is all common stock.
[A white-lead works, it is stated, has
recently been opened In Chicago and additional branches are being contem¬
plated—Ed.]—V. 89, p. 1416.
Spencer Kellogg Go.—Charter Surrendered.—The company
has surrendered its charter and will hereafter be conducted
in the name of Spencer, Kellogg & Sons.—V. 84, p. 936.
Spencer, Kellogg ft Sons.—New Company.—See Spencer
Kellogg Co. above.
Spring Valley Water Co., San Francisco.—Offer Confirmed.
—The shareholders on Dec. 28 ratified unanimously the ac¬
tion of thq board of directors in offering the plant to the city
for $35,000,000.
See V. 90, p. 56.
Standard Cordage Go.—New Directors.—B. F. Ham and
Norton Squire were elected directors at the annual meeting
on Tuesday, to succeed L. L.
Gillespie and Charles E. Orvis.
114
THE CHRONICLE
The resolution offered by one or more small stockholders
to the effect
that it was the sense of the majority present that the business be wound
up
as soon as practicable was, we are
Informed, either defeated or not voted
Only
on.
one
of the company’s plants Is In operation.
V. 88, p. 228.—V. 89, p. 724.
Compare report,
Standard Underground Gable Co.,
Pittsburgh.—Special
Dividend.—A special dividend of 14% is
announced,payable,
along with the regular quarterly dividend of 3%,
on Jan. 10
to holders of record Jan. 5.
New Stock.—The stockholders will vote March 10 on in¬
dent of that
[VOL.
institution, will be Vice-President
LXXXX.
and Treas¬
urer, and E. T. Ellington will be Secretary.
In addition to
the above, the company has identified with it as
stockholders
a number of influential bankers and
capitalists throughout
will continue to make
a speciality of
handling the highest character of public se¬
curities, including Government, railroad, municipal, corpora¬
tion and “Carey Act” irrigation bonds.
—One after another the old original bond houses, are estab¬
lishing branch agencies in Chicago. The latest (which claims
to be the first municipal bond house to do business west of
New York) is the well-known firm of
Spitzer & Co. of Toledo,
the Middle West.
The
new
company
creasing the stock by $700,000, with a view later on, it is said, ;
to paying a stock dividend of 25%. The authorized stock is
$3,000,000; outstanding, $2,800,000.—V. 86, p.112.
Swift & Co., Chicago .—Report.—Press advices
give re¬ O. This house has taken offices on the third floor of the
sults for the year ending Sept. 30 1909 which
apparently Commercial National Bank
Building, and is offering to Chi¬
compare as below:
cago investors a carefully selected list of municipal securities
1908-09.
1907-08.
1906-07.
1905-06.
Total sales
$250,000,000
amounting to 3% million dollars. Albert Q. Hunter, who
$240,000,000 *$250,000,000 *$200,000,000
Net earnings
$8,190,000
$7,606,114
has had several years’
$6,300,819
$6,501,883
experience in the bond departments
Deduct: divs.7%
4,025,000
3,500,000
3,500,000
3,500,000
of E. D. Shepard & Co. and Alfred L. Baker &
For res. fund,
Co., is office
say
165,000
1,306,114
96,824
501,883
manager, and H. J. Pollitz, formerly with McIntyre & Co.,
is city salesman.
Added to surp
$4,000,000
Spitzer & Co. make municipal bonds a
$2,800,000
$2,703,995
$2,500,000
Over.—V. 88, p. 629.
specialty, but also handle local securities and corporation
bonds of high grade.
New Director,—Lewis L. Clarke of New York
City has been
elected to the board, to succeed his
—The banking house of N. W. Halsey & Co., New York,
father, Dumont Clarke,
is offering to investors, on
deceased.—V. 88, p. 629.
another page, an unusually
choice list of municipal, railroad and corporation bonds,
Union Ferry Co.—Dividend—Purchase
of Bonds.—The
“New York Summary” sa3rs:
yielding from 3.85 to 5.95%. Several of the issues are legal
for savings banks and trust funds in New
“It is understood that the Union Ferry Co. has declared a dividend of
York, New Jersey
*
1J4%. payable Jan. 15 to stockholders of record Jan. 11. The directors,
It Is stated, also authorized the retirement of between
$250,000 and $500,000
5% bonds at 102 H.
It is understood that the bonds have already been
taken up at that figure.
They are now quoted at 95@100.”
In 1909 2% was paid in Jan. and 1% in
July.
In Feb. 1909 $700,000
bonds had been purchased and canceled, reducing the amount
outstanding
to $1,500,000.
Compare ;V. 88, p. 569.
^
and Connecticut.
To those interested the firm will mail
their complete January circular
containing about 150 differ¬
ent issues.
Besides the main office at 49 Wall St., this city,
the firm maintains offices at 152 Monroe
St., Chicago; 1429
Chestnut St.,
Francisco.
Philadelphia, and 424 California St., San
Jersey.—Bonds Offered.—
—Mr. Chas. Schley, of Chas.
Clark, Dodge & Co., 51 Wall Street, New York, are offering,
Schley & Co., investment
by advertisement on another page, at a price to net about brokers, Milwaukee, announces, owing to advanced age and
5Ys%, first mortgage 4% gold bonds dated 1899 and due impaired health, his intention to retire from buisness life.
June 1 1949.
Interest J. & D.at the New Jersey Title Guar¬ He invites propositions frotn parties
desiring to engage in
anty & Trust Co., trustee, Jersey City, N. J. Denomina¬ the bond and investment business as successors in whole or
tions $500 and $1,000 (c*).
Tax-exempt in New Jersey. part. The firm has been doing business uninterruptedly
Authorized, $20,000,000; outstanding, $18,565,000 (includ¬ since 1850 and has never suffered financial difficulties or
ing $683,000 owned by Public Service Corporation of New had its name on any court docket.
Jersey); remainder, $1,435,000, reserved to retire underlying
—Louis F. Rothschild and Leonard A.
Hochstadter,
United Electric Co.
securities, &c.
of
New
A circular reports:
Leased for 999 years from July 1 1907 to the Public Service
Corporation
of New Jersey, which has directly assumed the
payment of the interest on
these bonds and has agreed to provide for the
payment of the
principal at
maturity, by extension, refunding or otherwise.
A consolidation of some
electric-lighting and power companlse in Newark, the Oranges, Mont¬
clair, Jersey City, Bayonne, Hoboken and Elizabeth.
Serves a population
20
of from 900,000 to 1,000,000.
Franchises liberal and without time limit,
except for a few minor grants.
Bonds secured by direct mortgage on all
property now owned or hereafter acquired, subject as to part to $705,000
prior bonds.
Capital stock outstanding, $20,000,000, of which $19,594,000 is owned
by Public Service Corporation, which by lease agrees to pay all taxes and
charges, &c., and dividends at the rate of 3% per annum until July 1 1909;
thereafter 4% per annum for two years, and thereafter
5% per annum.
Earnings of
United Electric Company.
Years ended Nov. 30—
1909.
1908.
1907.
Gross earnings
$3,120,492
$2,832,947
$2,868,723
Net earnings (after oper. expenses)._ $1,761,990
$1,539,089
$1,510,238
Bond Interest, &c. (excl. rent)
779,299
779,310
779,629
T.,_
Surplus
$982,691
$759,779
$730,609
Generated in 1908 approximately 44,000,000 k. w. h. of
electricity, or
about 64% of the total sold by the Public Service
Corporation of New
Jersey (69,000,000 k. w. h.).—V. 85, p. 415.
United Electric Securities Co., Boston.—New Bonds
Of¬
fered.—Parkinson & Burr and Perry, Coffin & Burr, Boston,
offering at 102 and interest, yielding about 4.87%, the
(30th series) of $500,000 col¬
dated Aug. 1 1909 and due
Aug. 1 1939; interest payable F. & A. American Trust
Co., Boston, trustee.
are
unsold portion of a new issue
lateral trust 5% gold bonds,
The company has issued, since its
5%
bonds,
incorporation In 1890, collateral trust
aggregating $18,000,000 (Including this series).
Of this
amount $13,699,000 have been retired and canceled.
rate of 7% are paid annually on $1,000,000
ported
on
Aug. 2 1909
a
surplus of
Dividends
at the
pref. stock. The company re¬
$1,316,079.—V. 89, p. 167.
Werner Publishing Co., Akron,
O.—Receivership.—On
Jan. 5 this company was placed in the hands of the
Superior
Savings & Trust Co. of Cleveland as receiver. On Jan. 6 the
South Cleveland Banking Co. of
Cleveland, to which the
pub¬
lishing company owes, it is said, about $1,000,000, also made
an assignment.
Compare item in banking department on a
previous page.—V. 77, p. 2039.
Western Electric Co., Chicago.—Bonds.—'The
mortgage
authorized by the shareholders in November 1907 has been
filed for record and $5,000,000 of the bonds, it is
said, will be
sold at once on account of extensions in
Chicago and New
York, to retire commercial paper and for working capital.
The
mortgage is made to the Merchants’ Loan & Trust Co. of Chicago,
trustee, under date of Dec. 30 1909, and It is to secure not
$15,000,000 of 5% gold bonds due in 12 years, but callable Jan. exceeding
1 1912 or
semi-annually thereafter at 105.
It covers all property in
Chicago and
New York.
The American Telephone &
Telegraph Co. owns more than
$12,000,000 of the company’s $15,000,000 capital stock.—V.
88, p. 455.
as
—The Chicago bond house of W. L. Rohrer &
Co., with
offices in the Marquette Bldg., dealers in
high-grade bonds
for a number of years, has been
incorporated with a
fullypaid-up capital of $250,000. W. L. Rohrer, who was among
the first thoroughly posted dealers in
irrigation bonds, will
be President of the company. Fred. G.
Merrill, for more than
20 years identified with the banking business and a success¬
ful "dealer in commercial paper and bonds in
Chicago, will
be Vice-President; H. C. Vernon, for 24 years associated
with the Commercial National Bank, and
latterly Vice-Presi¬
former partners in the firm of Albert Loeb &
Co., have or¬
ganized a new firm under the name of L. F. Rochschild &
Co., with offices at 32 Broadway. Mr. Rothschild’s seat
on the New York Stock
Exchange is to be transferred to
Mr. Hochstadter, who will be the Board
representative of
the firm, which has four branch offices in the
city. An active
bond department will be conducted by it.
—The law firm of Dillon & Hubbard, 195
Broadway, this
was dissolved on the 1st inst.
A new firm has been
formed by John F. Dillon, John M. Dillon,
George S. Clay
and John C. Thomson, under the name of
Dillon, Thomson
& Clay, to continue the practice of law at 195
city,
Broadway.
Harry Hubbard, of the old firm, will continue his law prac¬
tice at 71 Broadway.
—Perfect security and large yield are the attractive
features of a list of bonds advertised on another
page by
F. J. Lisman & Co.
The list includes
a
number of issues
on
important railroad properties which may be had at prices
to yield from 4.62 to 5.40%.
Circulars describing any of
the issues offered will be furnished on request.
—A partnership has been formed under the name of
Konig
Bros. & Co. by F. A. Konig, H. H. Konig and A.
Wollerson,
with offices at 16 Exchange Place, this city.
A general bank¬
ing business will be conducted by the firm, which will also
act as the agents and representatives of
Konig Bros, of Lon¬
don.
—A change in the firm of Charles
Hathaway & Co. occurred
Jan. l,when Arthur B. Holden and Forrest Raynor were
admitted as partners, the name of the firm becoming Hatha¬
on
way,
Smith, Folds & Co.
The firm has offices in Chicago,
New York, Boston and St. Louis.
—Finley Barrell & Co., Chicago, bankers and brokers,
that, beginning Jan. 1 1910, they will act as cor¬
respondents in Chicago for Brown Brothers & Co. of New
York and Philadelphia in the sale of the securities
put forth by
that well-known international banking house.
Private wire
announce
connections will be maintained.
—James B. Borden and Ernst A. Knoblauch announce
that they have formed the firm of Borden &
Knoblauch, to
continue the business of Knoblauch & Co. at 119 South 4th
St., Philadelphia, the latter firm having been dissolved by
mutual consent.
—John Burnham & Co. have
opened an office at 31 Nassau
St., N, Y., under the management of Mr. Paul G. Chace, to
transact a general business in stocks, bonds and unlisted
securities.
—The business heretofore conducted under the name of
E. Bunge, 20 Broad St., New York, has been
changed to
E. Bunge & Co.
Messrs. Franklin A. Batcheller and J. C.
Van Essen Jr. are authorized to sign jointly per procuration.
—Nelson G. Hollister announces that he has become iden¬
tified with J. S. & W. S. Kuhn Inc., at their home office in
Pittsburgh.
—Attention is called to the advertisement of
Colston,
Boyce & Co., offering Atlantic Coast Line 4% convertible
bonds.
,
Jan. 8
1910.]
THE CHRONICLE
115
3?hc <8/0ttntuerciai primes.
Friday Night, Jan. 7 1910.
COMMERCIAL EPITOME.
Friday Night, Jan. 7 1910.
trade continues to gain over the
corresponding
General
period of last year. Prices are generally steady and,
rule, aside from cotton there is little speculation
Stocks of Merchandise.
Cocoa
Jan. 1
1910.
Dec. 1
1909.
as a
Jan. 1
1909.
bags
28,500
34,600
32,000
bags 3,549,541 3,364,623 3,171,291
72,485
85,250
52,782
Coffee, Brazil.
Coffee, Java
Coffee, other
Sugar
mats
....bags!
bags, &c.
Hides
Cotton
Manila hemp
No.
bales
bales!
Sisal hemp
Flour
LARD
COTTON.
bales
391,079
38,000
12,572
158,473
4,267
1,863
bblsj
64,500
402,061
45,000
8,802
128,972
8,340
2,850
77,300
291,390
7,200
41,500
137,033
1,472
1,244
79,400
the spot
on
vanced, owing to
a
have also risen to
Supplies of product
has been dull but prices have ad¬
rise in the future market. Live hogs
record prices, with the arrivals
light.
Prime Western 13.15c..
are moderate.
Middle Western 13.10c. and City
12%@12%c. Refined
lard has been quiet and firm.
Continent 13.50c., South
America 14.75c. and Brazil in kegs 15.75c.
Speculation in
lard futures at the West has been active and
prices have been
The principal bullish factor has been the light
hogs at rising prices.
stronger.
movement of live
DAILY CLOSING PRICES OF LARD FUTURES IN
CHICAGO.
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri.
January delivery
12.25
12.57 H 12.60
12.60
12.67 M
May delivery
Holl11.92 ^ 12.10
12.07 ^ 12.20
12.17 H
July delivery
day.
11.87 H 12.05
12.02 H 12.12]^ 12.10
THE MOVEMENT OF THE CROP
as indicated by our
telegrams from the South to-night is given below. For the
week ending this evening the total
receipts have reached
167,337 bales, against 170,789 bales last week and 208,499
bales the previous week, making the total receipts since
Sept. 1 1909 * 5,236,608 bales, against 6,549,529 bales
for the same period of 1908-09, showing
a decrease since
Sept. 1 1909 of 1,312,921 bales. ;
’
Receipts at—
Sat.
Galveston
Port Arthur
10,346
_
OIL.—Linseed has advanced. The raw material has
risen, owing to the railroad labor trouble and severe storms
at the Northwest, which have restricted the movement and
curtailed the output of the mills.
Consumers of oil have
bought sparingly. City, raw, American seed, 76@77c.,.
boiled 77@78c., and Calcutta, raw, 85c.
Cottonseed has
been quiet and firm; winter
7.60@8.20c.; summer white
7.70@8.10c. Lard has advanced with trade quiet. Pressers are
experiencing difficulty in securing raw material.
Prime $1 25; No. 1 extra 65@68c. Cocoanut has been
quiet and steady; Cochin 9%@10c.; Ceylon 934c. Olive
dull and easier at 75@85c.
Peanut quiet and steady; yellow
62@67c. Cod has been quiet and steady; domestic 38@
40c.;
Newfoundland 42@44c.
spot has been quiet but firmer. Rio
No. 4, 9%@9%c.
West India growths
firmer; fair to good Cucuta 9%@10%c.
future contracts has been quiet, with
narrow changes.
On the whole, however, the tone has been
somewhat firmer.
There has been somebuying by houses
with Western connections.
On the other hand, spot in¬
COFFEE on the
No. 7, 824c.; Santos
have been quiet and
The speculation in
terests have sold to
liquidation.
some
January -.6.80c. April
February .6.80c. May
March
6.90c.
extent and there has been scattered
Closing prices
June
were as
follows:
6.95c. July
7.00c. August
_
__
7.05c. September
7.10c. October
7.10c.
7.10c. November _7.10c.
7.10c. December _7.05c.
SUGAR.—Raw has been dull and steady.
Centrifugal,
96-degrees test, 4.02c.; muscovado, 89-degrees test, 3.52c.;
molasses, 89-degrees test, 3.27c. Refined has been quiet
and firmer; granulated 4.95c.
Teas and spices have been
quiet and firm. Wool and hops been quiet and steady.
PETROLEUM.—Refined has been steady. Crude has
continued heavy, a fact which has caused consumers of re¬
fined to purchase sparingly.
Barrels 8.05c., bulk 4.55c.
and cases 10.45c.
Gasoline has been in moderate demand
and steady; 86 degrees, in 100-gallon
drums, 1824c.; drums
$8 50 extra.
Naphtha has been
quiet and steady; 73@76
degrees, in 100-gallon drums, 16%c.; drums $8 50 extra.
Spirits of tupentine has been quiet and firmer at 60 @60 34c.
Rosin has been quiet and steady; common to
good strained
$4 15@$4 25.
TOBACCO.—The market for domestic leaf has been quiet.
What business has been transacted has been in small lots.
It is the general belief,
however, that manufacturers are car¬
small supplies, and there is therefore a disposition
rying very
to expect a considerable increase in trade in the not distant
future.
Sumatra and Havana quiet. Prices steady.
COPPER has been quiet but firmer; lake 13%@14c.,
electrolytic 1324c., casting 13%@1324c. Lead quiet at
4.70c.
Spelter quiet and easy at 6.20c. Tin has been quiet
and lower, with larger
offerings; spot 33.10c. Iron has been
firm and more active; No. 1 Northern $18
75@$19 25, No. 2
Southern $18 25@$18 75.
Wed.
17,051
17,287
Thurs.
Gulfport
Mobile
Fri.
12,106
_
New Orleans
2,397
713
11,413
8,448
11,457
Total.
<
10,436
80,100
1,486
3,642
1,486
38,070
871
7,115
.
■
.
__
_
—
194
500
Pensacola
2,573
Savannah
Brunswick
Charleston
1,087
1,093
1,297
149
149
649
186
7,191
3,161
23,332
224
199
580
416
1,177
1,411
_
Jacksonville, &c.
37
3,423
1,245
29
105
925
204
50
579
1,208
1,322
2,474
131
432
50
50
5,803
2,506
■
_
_
_
_
Georgetown
Wilmington
Norfolk
^
Newp’t News,&c.
888
_
New York
Boston
-
Baltimore
-
Philadelphia
—
Totals this week.
18,097
—
—
19,794
38,711
_
-
-
4,386
8,615
241
105
50
241
305
50
995
.
-
-
50
_
1,863
1,768
100
-
-
_
580
_
9,95
-
—
—
30,171
34,798
—
—
25,766 167,337
The following shows the week’s total receipts, the total
since Sept. 1 1909, and the stocks to-night, compared with
last year:
1909-10.
Receipts to
January 7.
the spot
has been firm. Trade has been quiet
but supplies are light and
sparingly offered. Mess $24 50©
$24 75, clear $25@$26 and family $26
50@$27. Beef has
been firm with a good demand. Mess
$12@$13, packet $13@
$13 50, family $15 50@$15 90 and extra India mess $21 50
$22 50.
Cut meats have been steady, with consumers dis¬
posed to buy only for immediate requirements. Pickled
hams, regular, light to heavy, 12%@13?4c.; pickled bellies,
light to heavy, 13@13%c.; pickled ribs, light to heavy,
13@13%c. Tallow has been moderately active and firmer;
city 6%c. Sfearines have been dull and steady; oleo 18c.,
lard 13%@14c.
Butter quiet at a decline; creamery extras
34%c. Cheese in fair demand and firm; State, f. c., Sept.,
fancy, 17c. Eggsfirmerthough quiet; Western firsts 37@38c.
on
Tues.
12,874
Corp. Christ!,&c.
_
PORK
Mon.
This
Week.
Galveston
Port Arthur
Orleans
Gulfport
Mobile
Pensacola
Jacksonville, <Scc.
Savannah
Brunswick
Charleston
__
_
_
__
Georgetown
Wilmington
Norfolk-
This
Week.
Stock.
Since Sep
1 1908.
80,100 1,860,343 108,349 2,502,296
80,453 36,845
73,356
1,486
27,257
3,692
39,619
38,070
744,065 61,242 1,260,555
7,981
9,052
7,115
176,458 11,390
256,220
649
1
91,141
91,687
186
903
29,664
23,319
23,332 1,127,481 28,585 1,115,099
580
190,189 23,262
240,238
1,177
188,023
1,114
149,012
50
834
123
1,416
4,386
275,049
3,557
298,976
8,615
377,309 12,114
396,307
241
10,760
1,186
3,917
305
291
3,578
13,521
50
4,765
i 850
10,207
995
40,631
1,691
62,406
627
179
2,326
Corp. Christ!, &c.
New
1908-09.
Since Sep
1 1909.
-
N’port News, &c.
New York
Boston
Baltimore
-----
Total..
1909.
176,027
161,621
189,222
349,558
723
•
Philadelphia
1910.
167,337 5,236,608 295,374 6,549,520
44,740
70,023
108,837
8,517
33,357
160,624
29,848
17,224
11,515
39,492
16,807
31,659
165,44 2
6,488
12,748
3,335
188,762
6,454
27,372
904
800,443 1,060,856
In order that
we
comparison may be made with other years,
give below the totals at leading ports for six seasons:
1910.
Receipts at—
1909.
1908.
1907.
111,779
7,581
79,788
14,216
30,547
7,228
3,106
7,380
12,815
125,316
2,185
108,349
40,537
61,242
11,390
28,585
23,262
1,237
3,557
12,114
1,186
3,915
9,557
9,826
42,188
7,003
40,337
6,549
16,086
5,157
1,893
3,731
10,163
1,187
25,822
167,377
295,374
284,017
312,936
160,116
Galveston
80,100
1,486
Pt. Arthur, &c.
New Orleans.
Mobile
Savannah
Brunswick
38,070
7,115
23,332
—
580
Charleston, &c
Wilmington..
1,227
4,386
8,615
Norfolk
N’port N., &c
241
All others
Total this wk_
1906.
498
91,616
7,900
46,589
5,286
1,254
5,785
17,991
875
1905.
.
36,405
12,180
84,158
5,177
18,047
4,036
1,699
1,471
10,305
816
6,860
181,154
Since Sept. 1_ 5,236,608 6,549,529 5,395,337 6,382,924 5,360,956
6,224,582
The exports
for the week ending this evening reach a total
141,413 bales, of which 49,673 were to Great Britain,
15,891 to France and 75,849 to the rest of the Continent.
Below are the exports for the week and since
Sept. 1 1909:
of
Week
ending Jan. 7 1910.
Exported to—
Expoits
from—
Great
Conti¬
Britain. Fr’nce nent.
Galveston
Port Arthur
26,710
27,649 54,359
14,057
1,314
1,314
4,361 21,388
12,621
Corp.Chrls ,&c.
New Orleans..
Mobile
Pensacola
2,960
12,621
649
Gulfport
_
Savannah
_
_
-
-
.
.
7.869
Brunswick
—
Charleston
Wilmington
—
Norfolk
Newport News
New York
Boston
Baltimore
__
649
__
11,534
12,369
19,403
12,369
15,361
15,361
303
503
327
500
500
1,310
Great
Britain. France.
528,042 353,104
23,000 15,398
272,381 131,725
18,520 51,357
31,899 38,418
7,528
193,279 82,i48
69.107
5,496
11,820
92,265 15,700
4,800
Conti¬
nent.
Total.
.
609,032 I,490,i78
42,048
80,453
13,140
13,140
148,023 552,129
17,914
87,791
22,492
92,809
7,528
352,610 628,037
83,656 158,259
92,274 104,094
151,474 259.439
105
4,905
,
200
----
327
500
-...
310
Philadelphia
Portland, Me..
.
Total.
From Sept. 1 1909 to Jan. 7 1910.
Exported to—
_
84,792
68,506
14,944
32,326
500
3,780
„
—
Detroit........
—
Total
.
....
----
49,673 15,891
178,670
10.800
13,969
2,347
10.800
13,969
2,347
1,309
—
1,309
^
—
200
600
200
600
^
—
—
75,446
42,494
41,924
350
_
■_
_______
57,387
6,940
23,770
9,598
350
__
San Francisco.
Seattle
Tacoma
Portland, Ore.
Pembina
36,49i
—
—
75,849 141,413 1,453.566 733,617 1,658,379 3.845.562
Total 1908-09. 140,056 16,142 117,861 274,059 2,086,392 645.041
2.195,281 4,926,714
In addition to above
exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. We add similar figures for
New York.
‘
THE CHRONICLE
116
Great
Britain. France
Ger-
Other
Coast-
many.
Foreign
wise.
Leaving
Total.
Stock.
14,225
77,000
1,230
1,500
12,806
20,257
2,900
13,000
174,997
99,027
107,607
31,857
31,934
19,235
162,542
30,326
41,086 142,918
14,594 252,159
40,194 355,679
657,525
808,697
691,546
New York the past
8,000
5,000
Total 1910.
Total 1909.
Total 1908.
42,592
99,635
135,730
12,049 24,347
29,773 78,654
32,324 106,520
...
1,649
10,000
12,000
...
15,000
1,500
..
4,000
4,000
4,806
’’800
20,257
’’500
400
1,200
22,844
29,503
40,911
by spot interests and others, which caused a rally. The net
prices for the week, however, is marked. The specu¬
lation had become unduly inflated and the price no less so.
It had come to be largely an artificial market in the judgment
of most people.
The short interest had been largely elimi¬
nated and spinners who bought rather more freely during the
latter part of December withdrew from the market at the
opening of the new year. The spot sales in Liverpool became
very small and that market displayed a weakness which
surprised and disappointed the believers in higher prices.
The Continent has been a heavy seller in Liverpool and trade
reports from England have been in the main unfavorable.
The certificated stock here is steadily increasing.
Liverpool
has at times sold heavily here and though some spot interests
have bought March, they have, it is understood, sold consider¬
able May. Fall River’s sales of print cloths of late have been
small. The price of cotton had reached such a point, too, that
38
those who have been the most radical in their bullish
ideas began to hesitate. In fact, in many cases they have sold
and are simply watching events. Some of the Wall St. houses
heretofore bullish have begun to express grave doubts
whether present prices do not at least fully discount anything
at all bullish in the situation.
Evidences have multiplied
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Speculation in cotton for future delivery has been excited,
active and attended with a sudden and sharp break in prices,
which among the observant occasioned little surprise.
The
decline of Wednesday was the severest in one day of the pres¬
ent season and it was continued on Thursday.
Then came
the usual covering of shorts and some buying, as it appeared,
CM
1
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3,986
25,000
329
5,414
15,000
1,230
2,847
New Orleans.
Galveston
Savannah
Charleston.
Mobile
Norfolk
New York...
Other ports..
LXXXX.
FUTURES.—*The highest, lowest and closing prices at
On Shipboard, Not Cleared for-
Jan. 7 at
[Vol.
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overbought and was ripe for
5
a sharp fall.
The decline of Wednesday was precipitated,
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3
5
£
it is understood, by very heavy selling by leading Chicago
operators and their following. Other large trade interests
THE VISIBLE SUPPLY OF COTTON to-night, as
are supposed to have sold freely, and local traders, embold¬
ened by the sudden weakness of prices, sold with an aggres¬ made up by cable and telegraph, is as follows.
Foreign
siveness which they had not displayed for some time.
A stocks, as well as the afloat, are this week’s returns, and
break in the stock market had some effect.
Conservative consequently all foreign figures are brought down to Thurs¬
people in not a few cases deprecate the speculation which day evening. But to make the total the complete fig¬
ures for to-night
(Friday), we add the ' item of exports
nas been going on in the interest of what they regard as un¬
from
the
United
States,
including in it the exports of Friday
warrantably high prices, and they still consider the Govern¬
ment crop estimate, issued early in December, as absurdly only.
1907.
1910.
1909.
1908.
January 7—
low.
Receipts have recently increased. Predictions are Stock
855,000
at Liverpool.
bales.1,052,000 1,024,000
745,000
a o« oi
that the market had become
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<3
s
very general that the South will plant a very large acreage
during the coming season. Already there are reports that
sales of fertilizers are to be enormous.
With prices at any¬
thing like the present level, it stands to reason that the acre¬
age is not unlikely to exceed anything in the past.
There is
still a bull party here and in New Orleans, and reports are
rife that Chicago operators who sold on Wednesday have
within the last 48 hours bought again to some extent.
On
the decline spot markets are reported steady.
To-day prices
advanced sharply on much stronger Liverpool cables than
had been expected, bull support, commission-house buying
and covering of shorts.
Spot cotton here has been quiet.
Middling uplands closed at 15,60c., a decline of 50 points
for the week.
The rates on and off middling, as established Nov. 17 1909
by the Revision Committee, at which grades other than
middling may be delivered on contract, are as follows:
Pair
Strict mid. fair
.c.1.50
1 30
on
Middling
on
1.10
0.66
0.44
0.22
on
on
on
on
Strict low. mid
0.25
Low middling
0.60
Strict good ord-.. 1.05
Good ordinary
1.75
Strict g’d mid. tgd.0.35
Middling fair
Strict good mid
Good middling
Strict middling
c_
_
Basis Good mid. tinged.c Even
off Strict mid. tinged..0.15 oft
off Middling tinged
0.25 off
off Strict low.Mld.ting.0.60 off
1 to Jan. 7—
Middling uplands...
Sat.
H.
.
Mon.
16.10
...
-.-
1902_c._.
8.19
1901
...10.25
1900
7.69
1899
5.94
1898.
5.94
1897
7.19
1896.
8.19
1895
5.69
._
...
...
...
...
._
.-
1894.C
1893
1892
1891
1890
1889
1888
1887
on
Tues.
15.90
Wed. Thurs.
15.80
15.30
15.60
8.06
9.94
7.44
9.31
.10.25
9.81
.10.50
9.56
.
.
.
.
.
.
1886.C
1885..
1884._
1883._
1882..
1881._
1880..
1879._
Spot Market
Closed.
Sales of
Spot.
Saturday..
Monday...
Tuesday
Wednesday
Thursday
Friday
.
Total
._
Con¬
tract.
Quiet
Quiet 20 pts dec
Quiet 10 pts dec
Quiet 50 pts dec
Quiet. 30 pts adv
Steady.
Steady
Weak
Steady
..
Firm
bales.
.
Manchester stock
U.*S. port
stocks
U.
—
—
9,900
8,700
9’,900
3,700
39,400 39,400
789,000
582,000
672,000
960,000
643,000
918,000
738,000
58,000
37,000
41,000
42,000
633,000
815,000
745,000
504,000
450,640
959,714
885,187
959,223
800,443 : L ,060,856 1,047,225 1,327,458
904,664
558,188
794,207
895,864
11,621
56,055
30,734
29,886
3,909,021
■ 1,636,855
92,000
5,000
12,000
33,000
143,000
45,000
236,000
534,000
106,000
10,000
11,000
44,000
113,000
63,000
291,000
292,000
3,878,522 4,281.564
East Indian, Brazil, &c.—
T
London stock
Manchester stock—
Continental stock
India afloat for Europe
117,000
14,000
13,000
78,000
71,000
77,000
250,000
450,000
102,000
11,000^
11.000
39,000
141,000
89,000
252,000
463,000,
1,010,000
930,000 1,070,000 1,108,000
3,909,024 i 1,636,855 3,878,522 4,281,564
Total visible
25,800 25,800
_
808,000
11,000
339,000
178.000
3,000
19,000
121,000
1,000
American—
Liverpool stock
9.44
Total.
924,000
18,000
281,000
197,000
4,000
25,000
32,000
25,000
Total visible supply
5,009,024 5,566,855 4,948,522 5,389,564
Of the above, totals of American and other descriptions are as follows:
Egypt, Brazil, &c., afloat—
HOLIDAY.
1,127,000 1,082,000
15,000
7,000
282,000
402,000
488,000
306,000
3,000
4,000
9,000
34,000
25,000
58,000
1,000
3,000
1 ,975,000 1,871,000 1,506,000 1,480,000
143,000
113,000
71,000
141,000
885,187
450,640
959,714
959,223
89,000
45,000
63,000
77,000
Egypt, Brazil, &c.,aflt.for Europe252,000
236,000
Stock In Alexandria, Egypt
291,000
250,000
450,000
463,000
534,000
Stock In Bombay, India
292,000
Stock In U. S. ports
800,443 1,060,856 1,047,225 1,327,458
Stock In U. S. Interior towns
794,207
904,644
695,864
558,188
56,055
U. S. exports to-day
30,734
11,621
29,886
5,009,024 15,566,855 4,948,522 5,389,564
supply
Middling Upland, Liverpool
Middling Upland, New York:.—
Egypt, Good Brown, Liverpool.
Peruvian, Rough Good, Liverpool
Broach, Fine, Liverpool
TInnevelly, Good, Liverpool
_
Consum’n.
11,000
52,000
_
Stock in Alexandria, Egypt.
Stock in Bombay, India
Spot and Contract.
10,000
Total European stocks
India cotton afloat for Europe
Amer. cotton afloat for Europe.
Liverpool stock
9.19
14,000
55,000
848,000
Fri.
MARKET AND SALES AT NEW YORK.
Futures
Market
Closed.
Total Continental stocks.
tinged
1.50 off
Middling stained...0.75 off
NEW YORK QUOTATIONS FOR 32 YEARS.
1910.e.. ..-15.60
9.25
1909
1908
...11.30
1907
...10.85
1906
-_.11.75
7.30
1905
13.10
1904
1903
8.90
Total Great Britain stock
Stock at Hamburg
Stock at Bremen
Stock at Havre
Stock at Marseilles.
Stock at Barcelona
Stock at Genoa
Stock at Trieste
off Low mid.
The official quotation for middling upland cotton in the
New York market each day for the past week has been:
48,000
5,000
70,000
Stock at London
Stock at Manchester
8.18d.
15.60c.
14 Jid.
9.50d.
7Hd.
7 3-16d.
5.07d.
9.40c.
8 Hd.
7.75d.
4 %d.
4 Hd.
6.22d.
11.45c.
5.96d.
10.80c.
10Kd. 10 ll-16d.
11.50d.
9.20d.
5 ll-16d.
5tfd.
7
3-16d.
5^d.
Continental imports for the past week have been 162,000
bales.
The above figures for 1910 show a decrease from last weefc
of 8,685 bales, a loss of 557,831 bales from 1909, an in¬
crease of 60,502 bales over 1908, and a decrease of 380,54C
bales from 1907.
!
Jan. 8
117
THE CHRONICLE
1910.]
QUOTATIONS FOR MIDDLING COTTON AT OTHER
INTERIOR TOWNS the movement—that is,
MARKETS.—Below are the closing quotations of middling
the receipts for the week and since Sept. 1, the shipments cotton at Southern and other principal cotton markets for
for the week and the stocks to-night, and the same items for each day of the week.
the corresponding period for the previous year—is set out
Closing Quotations lor Middling Cotton for—
AT THE
in detail below.
Week ending
January 7.
Monday. Tuesday. Wed'day. Thursday. Friday
...
.....
Wilmington
HOLI¬
Norfolk
DAY.
Boston
Baltimore
Philadelphia
Augusta
ssfls
Memphis
St. Louis
Houston
—
:® tf
-
«
CD
i
i
i
i
Little Rock....
Sat'day,
Jan. l.
St)
January—
to
ZJ*
t-» -4>-* © h* ex
■viit^too'to
155*
155*
155*
16.15
16.05
15.55
15.85
155*
155*
155*
155*
155*
155*
155*
155*
155*
155*
155*
155*
15 9-16
15 9-16
15 9-16
155*
155*
155*
15 9-16
15
155*
16.35
155*
155*
155*
155*
155*
155*
-
_
-
-
-
_
—-
—
Monday, Tuesday, Wed'day, Thursd'y, Friday,
Jan. 7.
Jan. 6.
Jan. 5.
Jan. 4.
Jan. 3.
« 69© © © to -«j
CO H*
t-»
co © w-* •-* ® to co iu ce o h*
t-k
tototo
f-*OC0t-»
CO CO H* r+ 0.
Closing
February—
April—
Range
Closing
to
•
©
i-1
i-^-sitoto
iU i-m-*
iU © co
to
oo to it* © ^
i-*toto
M*NN
©&»»©•-*»
"§1
©©<u©m ■-©•*»
Co
CO CO to
© H*H*
^ oo
June—
Co
oo
C»CO
»-*tO‘-‘©
*4©t-t©N
«OICI<I^^CBO>I^O>
t-»
tot-*
co i— to i— to to eo to t—
Range
Range
September—
Range
Closing
_
it.©©®©©©©®©©*-*
»— i—
>*44^©
©OOO^OOOi-^^^tO^
oo-oot—i—eo®-sitot—©wcoctenw-aocoiu^ut—©c«
oo eo ■*! CO © to-1 oe to to W
o©©to©>tk©^ii
©4».©^i©©w©t
M©©©©©4j-©i4©©©©oocpcno©©4>-©4>.o
©
1-1
i—oooo
^
cot—i—
Range
Closing.
©eo>— t—
©©ifc.©©!-1 «t»toi
£. to CO to to I— to ►— t—
co©©i— to ©too©
t— t— t— © t— to it* to tt*
►— eo -o © © oo co © w © © it*
The above totals show that the interior stocks have de¬
creased during the week 4,861 bales and are to-night 110,437
bales less than at the same time last year. The receipts
at all the towns have been 28,273 bales less than the same
week last year.
FOR THE WEEK AND
SINCE SEPT. 1.—We give below a statement showing
the overland movement for the week and since Sept. 1, as
made up from telegraphic reports Friday night.
The
for the week and since Sept. 1 in the last two years are as
results
follows:
Week.
Shipped—
Via Rock
12,110
6,396
1,506
1,537
1,671
1,246
3,486
...
...
...
...
Total gross
overland
1908-09
Since
903,238
1,350
2,739
1,267
49,601
17,843
22,494
3,011
1,033
88,460
28,163
18,519
*- 5,356
5,356
89,938
4,828
135,142
...22,596
22,596
496,876
35,894
768,090
...
Leaving total net
overland *
853
40,722
...
deducted
13,776
6,479
1,179
586,814
...
Total to be
1,013
3,548
13,874
Sept. 1.
366,241
204,916
11,348
45,140
29,472
95,593
150,522
Week.
Sept. 1.
225,348
116,954
10,266
42,257
25,392
71,907
94,690
...27,952
27,952
shipments—
784
Including movement by rail to Canada.
The foregoing shows the week's net
has been 22,596 bales, against 35,894 bales
last year, and that for the season to date
overland exhibits a decrease from a year ago of
*
overland movement
for the week
the aggregate net
271,214 bales.
-1908-09-
-1909-10-
Since
Since
Sight and Spinners'
Takings.
Week.
Week.
Sept. 1.
Sept. 1.
.167,337 5,236,608
Receipts at ports to Jan 7
496,876
22,596
Net overland to Jan. 7
962,000
52,900
Southern consumption to Jan. 7...
295,374 6,549,529
768,090
35,894
846,000
50,000
.241,933 6,695,484
711,044
*4,861
381,268 8,163,61
789,629
*30,548
.237,072
350,720
_
_
.
sight during week.
takings to Jan. 7-. 51,474
during the week.
North, spinners’
♦Decrease
..
—
Movement into
Week—
10...
1907—Jan. 11
1906—Jan. 12
15
7,406,528
8,953,248
1,252,327
57,129 1,480,217
sight in previous years:
Since Sept. 1—
Bales.
369,862 1908—Jan. 10
405,912 1907—Jan. 11
216,132 1906—Jan. 12
240,980 1905—Jan. 13
.
—
—
@
—
—
Bales.
7,151,644
8,578.469
...7,313,428
8,327.093
(§> —
—
®
—
—
@ .71
—
15.67-.70
—
—
—
(9
®
@
—
—
14.52-.64 14.34.46 13.64-.46 13.40-.74 13.98-.16
14.52-.54 14.38.39 13.60-.65 13.84-.85 14.16-.17
13.71-.82 13.58-.74 13.20-.73 12.85-.33 13.35-.55
13.79-.80 13.66-.68 13.18-.20 13,31-.33 13.54-.55
..
_
.
—
@
—
—
Firm.
Spot
Options
*
Since
@
@
—
—
@
—
Tone—
©a o
it* ©oo
1909-10
@
@
—
_
Range
Closing. ....
©■t*
January 7—
—
December—
C^C* 7
oo©
OVERLAND MOVEMENT
@ .79
16.75-.77 16.58-.60 15.83-.85 15.93-.95 16.29-.31
16.79-.93 16.57-.73 15.99-.74 15.19-.06 16.06-.40
16.86-.87 16.68-.69 15.90-.91 16.01-.02 16.39-.40
October—
■*1
tot-
—
August—
t-*
©<>j-Niji.>-‘oii-‘>-‘ie.i(i.oc®ot©c^©i^-©co®©to©toco©®iti.©itn^.oo®
Came into
HOLIDAY.
Range
Closing
July—
Range
Closing
© © © co eo
—
—
-
16.58-.75 16.35.54 15.75-.59 15.05-.91 15.90-.22
16.66-.67 16,49.,50 15,75 -— 15,85.,86 16,21.,22
Closing
toeooooi^o cooooco
®,Uit*OotoO>fle©itk©©oo^i-qiCn-,*©toto>-‘Coco^i©©oo©cni-lc*OocHW
©it4.toco~jg»cnoo©‘^-o©toifa-©^i©oo©to©©©©i-tcnOO>t.o©©o
t-* © to *-*■ to 4*
® —
@ .98 15.56 —
@ —
@ —
16.44-.46 16.27-.30 15.57-.60 15.70-.75 16.06-.08
—
May—Range
to
© to
oooocoeo
©wo©.*n*09i-*©-4»«».u©e*»
WOCXOOi"i,-»G3O>©©i-*i-^«J|©0c©*4©©MWM©t-‘©©>-‘ © © w
1-*00 lUO-JOO©^-©*^©© ©0t\;©0i-t©i-t0©©©0,>itP0©MM©*-t
©©in*©©
16.19-.38 16.10-.19 15.47-.23 14.96-.60 15.59-.90
16.30-.31 16.13-.14 15.47-.50 15.53-.54 15.88-.89
Range
Closing
iUWh-HO
—
—
—
March—
00 to
•“* to
to t-o -*©©©*>
@ —
@ .13 13.17 —
16.00-.01
@ —
16.09-.il 15.92-.94 15.31-.32 15.33-.35 15.68-.70
Range
Closing
toeo
co
15.82-.97 15.62-.77 15.15-.66 14.74-.18 15.22-.38
15.86-.88 15.69-.70 15.09-.il 15.12-.13 15.47-.48
Range
to
>ut-kOOCO'*jo*-‘too>*-‘CDtt».cntoeo®eoenOBwei9i-»ocDtoo»cooo®t-‘o><»
tD © V <3» O W 06 t-1
o» o o eo Vj ® h* ►-» «o o» V
rf^.CO Cn itk »o 00 *sl it.
©^|4i.it^«OOOt-.COCOit.iti.toCO©OOit».tOO>WiUCTtO i** © i-m-*©&S©i-‘i-‘©©
O ©©©-*© ■UMt'J>-+O.-tM«M©©O©*-HUOO0C©.&.O©©©©t->©
155*
16.10
16
155*
-1 iU to it*
OWWOWMO
In
15.30
5*
155*
— _
lowest and
OeW'lOOOlU
Deduct
155*
15.80
_
ORLEANS OPTION MARKET.—The highest,
closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
i
to O
155*
16.10
15 11-16
15.90
_
NEW
1908—Jan.
i
03.
O
—
155*
155*
155*
155*
155*
155*
155*
15 5*
15 5*
**
15
155*
155*
155*
155*
155*
155*
155*
15H
15H
155*
155*
15 5*
15
Galveston
New Orleans—
Mobile
Savannah
Charleston
Steady.
Steady.
Steady.
—
@
—
—
@
—
Steady.
Quiet.
Steady.
Weak.
Weak.
Firm.
Nominal.
WEATHER REPORTS BY TELEGRAPH.—Our
tele¬
graphic advices this evening from the South denote that
rain has been quite general during the week, but the precipi¬
tation has not been excessive. Temperature has been lower,
localities.
&c., Texas.—Our usual telegraphic advices
from Texas points have failed to reach us this evening.
New Orleans, Louisiana.—There has been rain on three
days of the week, to the extent of one inch and eighty-one
hundredths.
The thermometer has averaged 57.
Shreveport, Louisiana.—There has been rain on three days
during the week, the precipitation reaching eighty-eight
hundredths of an inch.
Average thermometer 49, highest
78, lowest 20.
Vicksburg, Mississippi.—It has rained on three days during
the week, to the extent of two inches and seventy-six hun¬
dredths.
The thermometer has averaged 53, the highest
being 72 and the lowest 21.
Helena, Arkansas.—There has been rain, sleet and snow
on two days the past week, the rainfall reaching two inches
and sixty-two hundredths.
The thermometer has averaged
45.3, ranging from 10 to 72.
Little Rockt Arkansas.—Rain has fallen on two days of
the week, the rainfall reaching one inch and twenty-two
hundredths.
The thermometer has ranged from 14 to 68,
averaging 41.
Memphis, Tennessee.—Eight inches of snowfall this week.
We have had rain on two days of the past week, the precipi¬
tation being thirty-one hundredths of an inch.
Average
thermometer 43.4, highest 69.4, lowest 17.
Mobile, Alabama.—There has been rain on three days of
the past week, the rainfall being eighty-three hundredths of
an inch.
The thermometer has averaged 56, ranging from
with
snow
in
some
Galveston,
32 to 71.
Montgomery, Alabama.—We have had rain on one day
during the week, the precipitation reaching ninety-eight hun¬
dredths of an inch.
The thermometer has ranged from 28
to 72, averaging 56.
Selma, Alabama.—We have had rain on two days of the
past week, the precipitation being one inch and ten hun¬
dredths.
Average thermometer 54, highest 73, lowest 19.
Madison, Florida.—There has been rain on one day of the
week, to the extent of sixteen hundredths of an inch. The
thermometer has averaged 57, the highest being 77 and the
lowest 33.
Savannah, Georgia.—We have had no rain during the
The thermometer has ranged from 17 to 72, aver¬
aging 53.
week.
118
THE CHRONICLE
pTCharleston, South Carolina.—We
have had rain
on
two
Cotton Takings.
Week and Season.
69, lowest 25.
The
New Orleans
Jan. 7 1910.
Feet.
zero of gauge.
4.3
zero of gauge.
6.8
zero of gauge.
17.8
zero of gauge.
2.8
zero of gauge.
7.9
Above
Above
Above
Above
Above
Memphis
Nashville
Shreveport
Vicksburg
Jan. 8 1909.
Feet.
4.7
8.0
11.0
1.3
Total supply
Gross overland for December
bales
Gross overland for 4 months
Net overland for December
Net overland for 4 months
Port receipts In December
Port receipts In 4 months
Exports in December
Exports In 4 months
Port stocks on Dec. 31
Northern spinners’ takings to Jan. 1
Southern consumption to Jan. 1
Overland to Canada for 4 months (In¬
cluded in net overland)
Burnt, North and South, in 4 months.
Stock at North, interior markets Jan. 1__
Came In sight during December
Amount of crop in sight Jan. 1
Came In sight balance season
Total crop
Average gross weight of bales
Average net weight of bales
1908.
177,099
558,862
151,165
474,280
857,014
3,701,682
809,671
1,200,852
910,000
164,525
422,720
123,939
313,957
1,594,036
4,975,906
1,303,475
3,803,793
1,051,889
697,228
832,000
52,495
50,730
33,070
19,458
11,952
2,003,975
6,601,863
4,979,966
11,582,829
5,069,271
664,336
615
.
10,766
1,333,084
7,169,456
509.52
485.52
2,284,139
8,569,568
5,259,278
13,828,846
519.28
495.28
515.01
492.01
INDIA COTTON MOVEMENT FROM ALL
PORTS.
January 7.
Receipts
1909-10.
at—
1908-09.
Since
Week.
Bombay
1907-08.
Since
Sept. 1.
Week.
115,000 1,077,000
95,000
Since
Sept. 1.
Week.
547,000
Sept. 1-
77,000
620,000
Week.
Exports
from—
Since September 1.
Great
Conti¬ Japan
Britain. nent. &China Total.
Great
Britain.
Conti¬
& China
1,714", 982
350,720
8,953,248
547,000
114,000
591,000
131,000
95,000
3,000
32,000
5,000
76,000
564,000
124,000
5,009,024
392.757
275.757
117,000
5,009,024 5,566,855
5,566,855
6,169,526
6.484.375
5.293.375
1,191,000
378.214
316.214
62,000
4,951/526
1,218,000
Embraces receipts in Europe from
Brazil, Smyrna, West Indies, &c.
SHIPPING NEWS.—As shown on a
previous page, the
exports of cotton from the United States the
past week have
reached 141,413 bales.
The shipments in
detail, as made
up from mail and telegraphic returns, are as follows:
Total bales.
200
100
3
200
Jan. 6
NEW YORK—To London—Dec.
31—Minnetonka, 200
To Bremen—Jan. 5—Roon,
100
To Barcelona—Jan.
5—Montserrat, 3
To Naples—Jan. 5—Hamburg,
200
GALVESTON—To Liverpool—Dec. 29—Cuttbert, 10,381
_
—Iowa, 16,329
To Bremen—Jan.
berg, 5,086
To
4—Monadnock, 11,438
26,710
Jan.
5—Witten¬
Hamburg—Dec. 31—Schaumberg, 1,283
waite, 1,551
Jan. 4—North-
2,834
Barcelona—Jan. 6—Dora Baltea, 4,175
4,175
Genoa—Jan. 6—Dora Baltea, 4,116
4,116
TEXAS CITY—To Mexico—Dec.
31—City of Mexico (additional),
300
Jan. 3—City of
Tampico,
1,014
1,314
NEW ORLEANS—To
TJverpool—Jan. 5—Custodian, 14,067
14,067
To Havre—Jan. 4—Californian,
2,960
2,960
To Rotterdam—Jan.
4—Polamhall, 582
582
To Genoa—Jan.
3—Auchencrag, 3,779
3,779
MOBILE—To Havre—Jan. 5—Meltonian, 12,621
12,621
PENSACOLA—To Genoa—Dec. 31—Monviso
(additional), 500
500
To Trieste—Jan. 5—Ida, 149.
1
149
SAVANNAH—To Liverpool—Jan.
5—Wanderer,
7,869
7,869
To Bremen—Dec.
31—Glenlyon, 11,034
11,034
To Warberg—Dec.
31—Glenlyon, 400
400
To Reval—Dec.
31—Glenlyon, 100
100
BRUNSWICK—To Bremen—Dec. 31—Craigard, 6,607
Jan. 4—
Asia, 5,762
12,369
WILMINGTON—To Bremen—Jan. 5—Hyperia, 15,361
15,361
BOSTON—To Liverpool—Jan. 3—Sachem, 94
Jan.
4—Sylvanla,
15
Jan.
To
To
;_
LIven>ool—Dec.,31—Vedamore,
To Havre—Jan. 5—Ikala, 310
To Hamburg—Jan.
Total.
327
500
310
500
500
500
5—Andalusia, 500
Bombay—
1909-10-_
1908-09
1907-08-_
2,000 27,000 29,000 58,000
1,000 32,000 24,000 57.000
3,000 16,000 26,000 45,000
Calcutta—
15,000
5,000
8,000
194,000
165,000
172,000
236,000
149,000
124,000
445,000
319,000
304,000
PHILADELPHIA—To Genoa—Dec. 29—Taormina, 500.
TACOMA—To Japan—Dec. 31—Fitzpatrick,
1,309
Total
1,309
c
141,413
___
_
1909-10-.
1908-09.1907-08.Madras—
1909-10..
1908-09..
1907-08..
All others—
1909-10..
1908-09._
1907-08..
Total all—
1909-10..
1908-09..
1907-08..
1,000
1,000
1,000
1,000
1,000
2,000
4,000
1,000
11,000
11,000
9,000
15,000
2,666
2,666
1,000
4,000
3,000
8,000
4,000
9,000
17,000
1,000
2,000
5,000
16,000
5,000
7,000
37,000
60,000
60,000
1,000
5,000
8,000
1,666
---
1,000
-
,
_
—_
5,000
—
....
13,000
30,000
10,000
LIVERPOOL.—By cable
9,000
14,000
25,000
Sales of the week.
Of which speculators took.
Of which exporters took
Sales, American
Actual export
Forwarded
Total stock—Estimated
54,000
70,000
75,000
Of which
2,000 28,000 29,000 59,000
1,000 34,000 25,000 60,000
3,000 23,000 26,000 52.000
37,000
17,000
24,000
246,000
245.000
238,000
171,000
132,000
258,000
Alexandria, Egypt,
January 5.
1908-09.
1907-08.
165,000
4,229,920
240,000
4,433,920
280,000
5,138,582
spot cotton have been
Spot.
Saturday.
Market,
1
)
J
12:15
P. M.
Since
Week. Sept. 1.
Exports (bales)—
To Liverpool
To Manchester
To Continent
To America
This
Since
Week. Sept. 1.
Sales
.
—
Spec.&exp.
Market,
The statement shows that the
receipts for the week were
165,000 can tars and the foreign shipments 28,000 bales.
Vpl's
to finest.
dJ-
a.
d.
Nov
2fi 10 H
@
IS
$
5
ION
@
11
5
5
5
5
0,
@9 10
5* @9 11
d.
d.
7r«2 m
d. 8. d.
@
8* 4 10
@
@
11*
ISM «5 tM$10 1
@
uh 5
8.187*
24
U
im
d.
7.72 7 h
@
8*
7,94 % 9-16 @
8*
8.03 7 H ■ @
8*
8.26 7H
@
8*
$.60 7H
@8 3-16
%% i m
10*
Jan.
'"T. IQ*
s.
6
6
6
$10
5
#10 0
@10 0
@10 0
@
8* 4
9
Cotjl.
fd.
@8
5
5.08
@8
4*
6*@&
3*
4*
4.97
4.86
4.82
4.92
4.99
7
5
5.07
«Ht!
i*
@8
6
@8
January.
Mid.
d.
s.
600
1,900
24,000
11,000
49,000
1,054,000
952,000
100,000
57,000
209,000
184,000
19,000
11,000
226,000
165,000
2,000
36,000
8,000
94,000
1,052,000
960,000
100,000
78,000
189,000
158,000
daily closing prices of
follows:
Tuesday.
Dull.
Dull
Wednesday. Thursday.
Moderate
demand.
8.44
8.36
5,000
5,000
500
500
4*@8*
pts. dec.
12*
p.m. p.m.
p.m.
d.
-
Jan.-Feb..
Feb.-Mch.
;
Mch.-Apr.
Anrt-May.
May-June
June-July
July-Aug.
Aug.-Sep.
Sep.-Oct
_
Oct.-Nov.
Nov.-Dee.
Dec.-Jan.Jan.-Feb.-
Mon.
12* 12*
d.
VpCs
•
1,014,000
928,000
Easy at
1@3 pts
decline.
7,000
u
500
.
4@7*
to 2 points
decline.
Quiet.
8.05
8.18
15,000
1.000
4,000
500
B’ly st’dy Excited &
at3@4 pts. irreg. at 28
decline.
@32pt.dec.
pts. dec.
Friday.
Moderate
demand.
8.28
B'ly st.’y at Steady at St’y, unch.
Sat.
Jan. 7.
8H lbs. Shirt¬
ings, common
32s Cop
Ttcist.
16,000
12,000
41,000
947,000
118,000
82,000
192,000
139,000
The prices are given in pence and lOOMs.
1908 09.
Coin.
Mid.
45,000
800
800
Irreg. at
14@21
pts. adv.
Easy at
Firm
30@36*
22@24*
pts. dec.
at
pts. adv.
clause, unless otherwise stated.
to
8 * to*. Shirt¬
ings, common
to finest.
Jan. 7.
34,000
The prices of futures at
Liverpool for each day are given
below. ’ Prices are on the basis of
upland, good ordinary
MANCHESTER MARKET.—Our
report received
to-night from Manchester states that the market by
is
quiet for both yams and shirtings.
Merchants are
buying very sparingly. We give the prices for to-<
low and leave those for previous weeks of
this and h
year
for comparison:
cable
329 Cop
Twist.
as
Dull at
1 point
decline.
1
)
J
4
P. M.
Egyptian bales weigh about 750 lbs.
1909-10.
HOLI¬
DAY.
Futures.
Market
1
opened
J
28,000 362,530 28,750 335,563
34,500 445,988
Note.—A cantar Is 99 lbs.
Dec. 31.
22,000
Monday.
Mid. upl’ds
6.500 90,969
1,500 88,061
6.750 136,020
7.500 78,810
9,750 88,936
7.750 116,270
11,500 152,569 16,000 131,683 18,250
161,901
2.500 40,182
1,500 26,883
1.750 31,797
—
Total exports.
This
Since
Week. Sept. 1.
Dec. 24.
42,000
3,000
1,000
32,000
10,000
60,000
The tone of the Liverpool market for
spots and futures
each day of the past week and the
1909-10.
This
American—Est__
Dec. 17.
1,048,000
Total Imports of the week
Of which American
Amount afloat
Of which American
531,000
433,000
414,000
f
Receipts (cantars)—
This week
Since Sept. 1
from Liverpool we have the fol¬
the week's sales, stocks,
&c., at that port:
lowing statement of
ALEXANDRIA RECEIPTS AND SHIPMENTS.
so
17
16,524
_____
5—Armenian, 218
BALTIMORE—To
Japan
nent.
5,459,349
1,93V,022
7,406,528
1,077,000
__
For the Week.
•Season.
5,401,781 11,178,550 5,945,069 12,051,230
Total takings to Jan. 7
Of which American
Of which other
Ml 907.
322,609
861,046
271,024
730,480
1,689,382
6,230,355
1,459,970
4,610,392
1,087,348
1,414,446
766,000
.
Deduct—
Visible supply Jan. 7_
1908-09.
Season.
Visible supply Dec, 31
5,017,708
Visible supply Sept. 1
Americanlh sight to Jan. 7
237,072
Bombay receipts to Jan. 6
115,000
Other India shipments to Jan. 6
1,000
Alexandria receipts to Jan. 5
22,000
Other supply to Jan. 5 *
:
; 9,000
*
1909.
1909-10.
Week.
8.4
COTTON CONSUMPTION AND OVERLAND
MOVE¬
MENT TO JAN. 1.—Below we
present a synopsis of the crop
movement for the month of December and
the four months
ended Dec. 31 for three
years:
LXXXX.
WORLD'S SUPPLY AND TAKINGS OF COTTON.
days of the week, the precipitation reaching seventy-nine
hundredths of an inch.
Average thermometer 47, high¬
est
following statement we have also received by tele¬
graph, showing the height of rivers at the points named at
8 a. m. of the dates given:
[VOL.
HOLIDAY.
d.
8
8
8
8
8
8
8
8
8
7
7
7
7
7
Thus, 8 23
Tues.
means 8 23-1 OOd.
Wed.
Thurs.
Frf.
4
4
12*
4
12*
4
12*
4
12*
p.m. p.m. p.m. p.m. p.m. p.m.
p.m. p.m. p.m.
d.
d.
23* 21* 16
23* 21* 16
26
24* 19
29
27* 21
23
30* 29
32
30* 24*
32
30* 24*
30* 29
23
04
03* 96
55
54* 47*
31
31* 24*
20* 21* 14*
19
20* 13*
18* 20
13
d.
d.
d.
d.
d.
17* 08
17* 08
16* 84* 82
16* 84* 82
20
11
19* 87
84
22* 14
22* 89* 86
24
15* 24
91
87*
25* 17
25* 92* 89
25
26* 17
92* 88*
24
15*
24
91
96* 86* 94* 84
47* 37* 46* 17
24* 15* 23* 96
14
05
12* 85*
13
03* 11* 83
12* 03
11
83
,
87
61
13*
d.
98
98
00
02*
04
05
04*
03
d.
06
06
08
10
11 *
13
13
11*
78* $5
30
36
15
93
49r*
82* 98* 04*
81 ” 98* 03
80* 96
02*
Jan. 8
THE CHRONICLE
BREADSTUFFS.
Friday, Jan. 7 1909.
Prices for wheat flour have shown little change during the
week.
The trading has continued very quiet.
The under¬
tone of the market has been firm, however, and there is a
disposition in
the outlook.
some quarters to take a more hopeful view of
The arrivals here of late have diminished.
It is expected, too, that the stock will soon begin to dwindle
and cause consumers to buy more freely.
At
and Southwestern markets of the country trade
the Western
has been dull
during the week. The demand at the Northwest, however,
has been fairly active.
Rye flour has been quiet and steady.
Corn meal has been quiet and firmer.
Wheat has continued to advance with
no
fundamental
change in the general situation. In other words, bullish
Argentine news and strong spot markets in this country have
still been the dominant factors.
Buenos Ayres prices have
risen sharply.
So have quotations in Liverpool, Buda
Pesth, Berlin and Paris. The outlook for the crop in south¬
ern Argentina is said to be bad.
Rains have interfered with
Argentina’s threshing. La Plata offerings have been scarce.
It is asserted that the exportable surplus of Argentina will be
20% smaller than that of last year. Whether this is so or
not, it has had an influence, as it coincided with sharp ad¬
vances in prices in Argentina and Europe.
A good milling
demand has prevailed in our Northwestern States and foreign
houses have been buying futures at the West.
Cash pre¬
miums have been strong.
Farmers are said to be holding
back supplies in the belief that higher prices are to be expec¬
ted later on.
On the other hand, export trade has been dull,
and it is contended by some that the indications of large crops
in Russia, Australia and India should offset the pessimistic
news from Argentina.
Russia, it is said, will have a winterwheat crop 59,000,000 bushels larger than that of last year.
The stock at Minneapolis has been gradually increasing and
an increase in the world’s available supply "during the week
occurred of 640,000 bushels, against a decrease for the same
week last year of something over 2,300,000 bushels.
The
receipts at American markets are large and the crop reports
from the Southwest favorable.
The outlook for European
crops is believed to be generally good, that of Russia, as
already intimated, particularly so. To-day prices were
firmer "early on bullish Argentine news and strong cables, but
they declined later on large receipts and liquidation.
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.
Sat.
Mon. Tues.
Wed. Thurs Fri.
No. 2 red winter,!, o. b
127 % 129
129
129
129
Holi- 120# 121% 1-20% 121% 121
May delivery in elevator
July delivery In elevator.
day. 110% lil% 111
111% 111%
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
Sat.
May delivery In elevator
July delivery In elevator
September delivery in elevator
__
Indian
Mon.
Tues.
futures in the New York market have been
At the West the speculation has been active and
corn
high levels.
Receipts were light, the shipping demand
active and cash prices strong.
Commission houses bought
freely. There was large profit-taking on the rise.
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK.
Sat.
Mon. Tues.
Wed. Thurs. Fri.
HoliCash corn
70%
70%
70%
71
73
May delivery In elevator
day.
75%
75%
75%
76%
76%
DAILY CLOSING PRICES OF CORN FUTURES IN CHICAGO.
Sat.
May delivery in elevator
July delivery in elevator
September delivery in elevator
Holiday.
Mon.
Tues.
66 %
67 %
67 %
68 %
68 %
66 %
67 %
67 %
68 %
68 %
68 %
68 %
66 %
67 %
Wed. Thurs. Fri.
67 %
Oats for future
delivery in the Western market have ad¬
vanced, with the trading more active. Bullish factors have
been small receipts, an expanding shipping demand, higher
cash prices and light country offerings.
The rise in wheat
and corn has also had a strengthening effect.
Commission
houses have been good buyers.
Stocks at Chicago are com¬
paratively large, but there has been a noticeable disinclina¬
tion to sell for short account, though there has been free
liquidation at times. To-day prices were firmer in the main
on light receipts, a good cash demand and commissionhouse buying. ‘
DAILY CLOSING
Sat.
PRICEIOF OATS IN NEW YORK.
Mon.
Tues.
Wed.
Thurs.
Sat.
The
following
are
Holiday.
Mon.
Tues.
45%
46%
43 %
40%
44 %
41%
Wed. Thurs. Fri.
47%
47%
48%
44 %
41%
45
42
Winter straights
Winter clears
Spring patents...
straights.
clears
City patents
Rye flour
Graham flour
.
........
Corn meal, kiln dried..
Oats.
Barley.
Rye.
bbls.imbs. bush. 60 lbs. bush. 56 lbs. hush. 32 lbs. bvshAfUbs. 5m.56 lbs.
130,540
244,800
1,942,750
479,100
1.289, 800
28,000
46,200
.76,475
79,200
111, 000
232,700
22,000
337,927
2,650
95, 560
61,005
2,176
2,219,300
228,230
Minneapolis.
257, 100 r
320,870
47,920
Toledo
299,500
900
539,400
155, 300
7,000
Detroit
468,196
3,795
32,628
33, 827
Cleveland
443
2,582
111,677
150, 879
2,889
St. Louis
49,300
555,355
357,845
281, 600
52,000
9,000
Peoria
22,850
850
55,000
282,933
145,
26,760
6.650
Kansas City.
675,150
322,300
66, 000
Milwaukee-.
Duluth
..
Tot.wk.’lOj
318,203
321,187
257,429
Same wk. '09
Same wk. ’08
4,094,473
4,674,350
2,398,414
2,652,964
2,586,916
2,993,563
3,388,608
4,530,464
3,247,717
Since Aug. 1!
1909-10... 10,167,108 157,337,461 71,255,098
1908-09... 10,182,824 154,033,050! 61,059,821
1907-08... 1 8,584,031 126,791,284 84,481,077
1,176,224
1.548,157
1,130,405
122,746
115,971
102,945
4,953,697 43,290,280 4,084,559
86,988,014 50,107,875 4 062,408
92,807,489 40,022,625 4,149,345
Total receipts of flour and grain at the seaboard ports for
the week ended Jan. 1 1910 follow:
Flour,
bbls.
Wheat,
138,307
39,702
3,500
56,470
35,392
17,601
3,531
'
3,428
186,000
385,597
574,000
267,857
83,112
1,200
354,375
38,595
5,000
115,000
21,000
4,996
Receipts at—
New York
Boston
Portland, Me
Philadelphia
Baltimore
New Orleans *
Newport News
Norfolk
Galveston
Mobile.
Montreal
St. John
hush.
4,423
10,058
15,000
.
Corn,
Oats,
Barley,
bush.
bush.
Rye,
bush.
hush.
240,950
56,850
19,000
56,299
19,119
80,500
54,345
663,611
735,200
77,143
37,300
49,725
2,200
2,726
1,500
27,708
32,013
321,000
Total week
327,412 1,861,066 2.064,265
501,924
83,938
2,726
Week 1908-09
400,929 1.386,988 1,701,971
924,765 211,897
8,205
Since Jan. 11909.17,805,785 101316,741 47,356,213 44.650.823 7406,015 1141,318
Since Jan. 11908.18.843,737 120087,746 43,823,137 43,902,213 6935,215 2736,536
*
on
Receipts do not include grain passing through New Orleans for foreign ports
through bills of lading.
The exports from the several seaboard ports for the week
ending Jan. 1 1910 are shown in the annexed statement:
Wheat,
bush.
Corn,
Flour,
Oats,
Rye,
Barley,
bush.
bbls.
bush.
bush.
bush.
hush.
New York
258,428
154,149
65,239
Portland, Me
574,000
234,583
305,000
145,721
3,870
1,900
31,510
4,321
17.143
39,000
588,142
357,000
77.143
23,104
41,000
33,209
14,500
3,531
3,000
4,423
3,428
15,000
Exports from—
Boston
Philadelphia
Baltimore.
New Orleans
3.500
Newport News
Galveston.
Mobile.:
Norfolk
St. John
45,000
2L000
321,000
Total week
Week 1909
The destination of these
as
.....
.....
—f-
24,370
‘14,718
31,510
38,262
.....
4.331
11,124
exports for the week and since
below:
Flour■
t—Wheat
Since
-CornSince
Since
Week
Jan 1.
July l
Week
Jidy 1
Exports for week and
1909.
Jan. 1.
1909.
since July! to—
bbls.
bbls.
bush.
bush.
United Kingdom... 114,741 2,918,649 1,557,054 34,526,794
Continent44,026 1.155,407
310,718 19,048,757
So. & Cent. Amer__
9,956
434,929
5,985
210,919
West Indies
38,002
727,662
2,000
3,675
BriL No Am. Cols.
2,413
76,527
Other Countries
796
126,309
7,975
99,630
Total
Total 1908-09
Peas,
1,500
1,883,732 1,253,577 209,934
.1.422,629 1,595,890 270,909
July 1 1909 is
Week
Jan. 1.
bush.
July 1
1909.
393,478
822,283
6,700
28,116
8,000
,450,048
bush.
,264,019
397,854
,060,493
32,991
16,063
209,934 5,439,383 1,883,732 53,889,776 1,253,577 9,221,468
270,909 5,999,616 1,422.629 77,251,235 1,595,890 11,665,135
The world’s shipments of wheat and corn for the week
ending Jan. 1 1910 and since July 1 in 1909-10 and 1908-09
are shown in the following:
Wheat.
Week
Jan. 1.
Com.
.
1909-10.
Exports.
1908-09.
Since
Since
July 1.
July 1.
1909-10.
Week
Jan. t.
Bushels, j Bushels.
Bushels.
Bushels.
3,208.000 86.381.000 113.433.700 1,332,000
3.168.000 123,784,000 38,064,000 642.000
872.000 11.752.000 26.384,000 > 683,000
Argentine
512.000 14,824,000 29,563,000 651,000
Australian...
464,000
6,356,000
8.760,000
!
Oth. countr's
496,000 26.104,000
7,618,000:
North Amer.
Russian
Danubian
,1908-09.
Since
Since
July 1.
July 1.
V Bushels.
Bushels
,
—
..
TOt^
....
l
9,420,000 10,525,400
9,586.000
8,155,500
11.647,000 13.033,500
56.612,000 42,104,500
.
’• >;
:
8.720,000 269,201.000 222,822.700 3,308.000 187.265.000 73,818,900
S' ';
r1
.
/.
*
l
The quantity of wheat and corn afloat for
mentioned was as follows:
Europe
on
dates
44 %
42 %
Wheat.
closing quotations:
Kansas straights, sack.35 00
Kansas clears, sacks... 4 35
Corn.
Chicago
Com.
United
FLOUR.
Winter, low grades...
Winter patents.
Wheat.
Flour.
Receipts at-
r
Fri.
Natural white Holi- 48 %-51 % 48 %-51 % 51
-53
52 -54
52 %-54 %
White cUpped day. 49
-53
49
-53
-56
51%-55
52%-55% 53
DAILY CLOSING PRICES OF OATS FUTURES IN CHICAGO.
May delivery In elevator
July deliveiy In elevator
September delivery in elevator
The statements of the movement of breadstuffs to market
indicated below are prepared by us from figures collected by
the New York Produce Exchange.
The receipts at Western
lake and river ports for the week ending last Saturday and
since August 1 for each of the last three years have been:
Wed. Thurs. Fri.
113% 114% 113% 114 % 113%
Holl- 102% 103% 103
103% 103%
day.
98%
99%
99 %
99%
99
nominal.
at times excited, and prices have advanced.
Sentiment
there is very bullish.
Reports are persistent that the qual¬
ity of the corn is poor and that there is a good deal of corn
covered up by snow.
The shipping demand at the West
has shown a noteworthy increase, and cash prices have risen.
Commission houses have been large buyers.
Some elevator
concerns have opposed the advance, and at times there has
been enormous liquidation.
The offerings, however, have
been well taken.
To-day prices were stronger, selling at
new
GRAIN.
Wheat, per bushel—
Com, per bushel—
Cents.
N. Duluth, No. 1
No. 2 mixed
$1 28%
elev.
73
N. Duluth, NO. 2
No. 2 yellow
1 26%
f.o.b. Nominal
Red winter, No. 2—f.o.b. 1 29
No. 2 white.
f.o.b. Nominal
Hard winter, No. 2_.
1 29
Rye, per bushel—
No. 2 Western
Oats, per bushel—
f.o.b.
Cents.
83
Natural white
52 % @ 54 %
State and Jersey
Nominal
White clipped
.53
@ 56
Barley—Malting
69
@76
Mixed..
50
Feeding, c.l.f.,N.Y.
65
@67
United
Kingdom’
Continent.
Bushels.
Bushrts.
Jan.
1 1910- 17,992.000
Dec. 25 1
17,600.000
2 1
14.080.000
4
18.480.000
Jan.
Jan.
*
Total.
Kingdom.
Bushels.
Bushels.
-
8,880.000 26-,872,000 6.882.000
7.280,000 24,880,000 6.866,000
6,080.000 20,160,000 3,400.000
7.840,000 26,320,000 3,480,000
Continent.
Bushels.
Total.
Bushels,
6,443,000 12,325,000
6,460,000
5,100.000
6.36Q.OOO
<ps
8.840.000
ISO
THE CHRONICLE
[VOL.
LXXXX.
The visible
granary
The value of these New York exports since Jan. 1
suppiy of grain, comprising the stocks in
principal points of accumulation at lake and $20,301,378 in 1909, against $12,252,443 in 1908.
at
seaboard ports Jan. 1 1910, was as follows:
AMERICAN GRAIN STOCKS.
Wheat,
Com,
Oats,
New York
"
afloat
Boston
Philadelphia
Baltimore
New Orleans
Galveston
Buffalo
afloat
Toledo
afloat
Detroit
afloat
-
“
“
Chicago
Milwaukee
Duluth
_
Minneapolis
bush.
bush.
bush.
1,260,000
17.000
96,000
449,000
691.000
775,000
63,000
166,000
3.995.000
164.000
90.000
2,179,000
1,219,000
37,000
263,000
254.000
9,000
1,000
51,000
207,000
177,000
1,000
137,000
1.021",666
151,000
1,083,000
201,000
iio‘666
"23",666
‘l'.ooo
266,566
ill", 666
74".66o
1,028.666
3,220,000
47,000
74",66o
568,000
1.001,000
1.055.000
234,000
725,000
1,047,000
153,000
55,000
25,000
251,000
4,000
11,180,000
11,106.000
10,629,000
814,000
2.656,000
807,000
1,022.000
2,«2d,OO0
5,082.000
Rye,
Barley,
bush.
240,000
845,000
104,000
518,000
450,000
3,225,000
408,000
1,888,000
8,000
342,000
17,000
676,000
439,000
102,000
358,000
Total Jan.
1 1910-.27,736,000
Total Dec. 25 1909..27,362,000
Total Jan.
2 1909_.61.759,000
7,387,000
7,165,000
Indianapolis
8,465,000
CANADIAN
Montreal
Fort WUliam
"
afloat
Port Arthur
Other Canadian
Total Jan.
1 1910Total Dec. 25 1909.
Total Jan.
2 1909.
*
_
.
.
‘i',666
‘
l'.ooo
”
2,904,000
1,729,000
2,659,000
St. Louis
Kansas City
Peoria
Barley,
bush.
489,000
4,971,000
•'
Bye.
bush.
1.461.000
GRAIN
Wheat,
Com,
bush.
bush.
STOCKS.
Oats,
bush.
385,000
2,508,000
70,000
1,850,000
4,150,000
35,000
434,000
8,963,000
8,988,000
6,415,000
35,000
38,000
26,000
'
2T.666
31,000
475,000
714,000
84,000
"l'.ooo
bush.
91,000
434,000
481,000
219,000
91,000
126,000
64,000
SUMMARY.
Wheat,
Corn,
Oats,
Rye,
bush.
bush.
bush.
bush.
bush.
.27,736,000
8.963,000
8,465,000
35,000
11,180,000
434,000
814,000
2,655,000
91,000
Total Jan.
1 1910. .36,699,000
Total Dec. 25 1909. .36,350,000
Total Jan.
2 1909. .58,174,000
8.500,000
7,425,000
7,191,000
11,614,000
11,587,000
814,000
807,000
1,022,000
2,746,000
3,049.000
5,146,000
American
Canadian
.
.
10,848,000
Barley,
THE DRY GOODS TRADE.
New York, Friday Night, January 7 1910.
In the primary market prices on heavy cotton goods have
been advanced, especially on cloths which have been selling
on a basis much below the present cost of the
staple, and the
revision upward is expected to continue as, even at the higher
levels announced during the week, many goods have not yet
been brought to a parity with cotton.
Obviously selling
agents are endeavoring to secure prices that will afford
mills a reasonable profit and thus encourage continued
operations by the latter; it seems equally apparent that
unless buyers respond, manufacturers will have no recourse
except to curtail production more extensively than they
have so far.
Not a few7 mills have been obliged to buy new
cotton at top prices, and instances could probably be cited
where orders already booked wTill be filled either with no
profit or at an actual loss. Tn some directions a slightly
better demand has been in evidence, but new business
upon the whole has continued of a hand-to-mouth character,
buyers still showing much conservatism in commitments
for the future.
Many orders have come forward, but at
old prices, which are not acceptable to mills.
During the
latter part of the week the pronounced unsettlement in the
raw material market was a disturbing factor and served
to make both buyers and sellers even more cautious. Jobbers
have had a busy week, principally in charging up goods on
old orders and making, shipments which have been sub¬
stantial in the aggregate; they are now showing lines of
spring merchandise, and road salesmen are starting out in
search of business.
A noteworthy development of the week
was the action of Southern spinners and commission
agents
at a meeting held at Charlotte, N. C., in adopting a uniform
price schedule for yarns representing an advance of 1 cent
over quotations previously current; the new schedule was
based on 16-cent cotton.
The formal resolution adopted
at the conference also
ur^ed immediate curtailment unless
the higher prices are obtained.
In the men’s wear market
the feature was the opening of leading lines of staple woolens
and worsteds for the fall season of 1910; the new prices, though
generally higher compared with last
do not show such
radical advances as the trade had expected.
The largest
producers of staple dress fabrics have been booking fair
orders for fall 1910, subject to confirmation when the new
lines and prices for that season are opened, about the middle
of January.
In the silk trade orders are being accepted
for delivery next fall on cotton-back satins; ngw prices
named are about the same as last season’s openings?
DOMESTIC COTTON GOODS.—The exports of cotl
1909
Since
Week. Jan.1.
12
2,036
2
1,104
207
169,851
8
17,290
”
Nets York to Dec. 31.
Great Britain
Other Europe—
China
India
Arabia
Africa
West Indies
Mexico
Central Amerloa
South America
Other countries
■»
>
Total
25,512
16,036
488
14
281
422
262
Buyers of domestic cottons have confined their orders,
part, to purchases for spot or near-by delivery,
with little disposition shown to proceed on contracts at
current levels.
Bleached goods have moved in better
volume, low constructions especially being in increased
for the most
40,011
1,733
14,064
54,277
23.898
1908
Since
Week. Jan. 1.
10
907
5
1,909
314
1,529
25,164
15,489
34,687
Standard wide goods are still quoted at 6c.
WOOLEN GOODS.—The American Woolen Co. opened
during the week lines of men’s
365.812
un¬
already stated, prices generally are higher than the level
established a year ago, but on a number of lines, particularly
worsteds, prices are apparently below those prevailing for
deliveries during the coming spring.
According to reports,
the initial buying movement has not been as vigorous as
agents expected. Demand for fancy carded wool suitings
and fancy wool overcoatings has been quite
satisfactory.
In dress goods interest centers in new lines for next
fall,
which will be opened generally in the course of a week or
two; some advance business has already been booked by
mills, subject to confirmation. Spring dress goods are
rather quiet outside of a fair call for serges and diagonals.
FOREIGN DRY GOODS.—No important change has
been noted in the market for imported woolens and worsteds.
Linens have ruled comparatively quiet but strong.
The
burlap market displayed more activity, a fair volume of
business having developed; light-weights are quoted at
3.50 to 3.55c. and 10^2-°unce
4.50 to 4.55c.
Importations and Warehouse Withdrawals of Dry Goods.
The importations and warehouse withdrawals of dry goods
at this port for the week ending Dec. 31 1909 and since
Jan. 1 1909, and for the corresponding periods of last year,
were as
follows:
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V.
cheviots,
wear serges,
finished worsteds, &c., for fall of 1910.
The United States
Worsted Co. also opened new lines for that season.
As
tt
2,298
com¬
has been only moderate.
At Fall River Borden brokers
raised their bid for regulars to 4>^c. for January, February
and March deliveries, without much success, however.
1,802
261
active call has also been noted for
more
paratively low-priced staple ginghams, which have been
given preference over the higher-priced lines; a new jobbing
price of 10 V£c. net has been named on Toile du Nord ging¬
hams, effective January 10. Discounts have again been
shortened on various lines of duck, some houses that have
been selling 4-yard sheetings at 63^c. are now
asking an
advance of %c.} and prices of Amoskeag tickings were
advanced
^c. a yard and immediately placed at value.
Trade in prints has been rather quiet, but is expected to
improve shortly. Cotton linings are also quiet, lack of
demand being attributed largely to the high prices ruling.
Some duplicate orders for canton flannels and drills have
been received from South American ports and further
inquir¬
ies from Manila for prints; but trade with the Far East has
continued at a standstill.
In the print cloth market business
10,393
29,602
566
A
demand.
year,
goods from this port for the week ending Dec. 31 were 1,696
packages, valued at $160,991, their destination being to the
points specified in the table below:
has been
|l|a
mi
5S3
1?
N
$
S
tt
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1
1
Jan. 8
THE CHRONICLE
1910.|
State atu> City PwnTMm.
CPramijcIje.
PUBLISHED WEEKLY.
Terms of
Subscription—Payable in Advance
Pop One Year
For Six Months.. *
$10 00
6 00
European Subscription (including postage)
13 00
European Subscription six months (including postage)
7 50
Annual Subscription in London (including postage)
£2 14 s.
Six Months Subscription in London (including postage)
£1 11 s.
Canadian Subscription (including postage)
...$1150
Subscription includes following Supplements—
Bank and Quotation (monthly)
State and City (semi-annually)
Railway and Industbial
(quarterly) Electric Railway (3 times yearly)
Railway Earnings (monthly)
Bankeks’ Convention (yearly)
DECEMBER BOND SALES.
Bate.
Maturity.
122. .Akron School District, Ohio.. 4
1912-1919
1612. .Albany, N. Y
4
1929
122. .Alhambra City Sch. Dlst., Cal. 4 H
1911-1935
.Anderson
School
1612.
City, Ind
3.65
0
63.
122. .Aqullla Ind. Sch. Dlst., Tex.. 5
5
1553. -Ashtabula, Ohio (4 Issues)
122. .Auglaize County, Ohio
,5
*5
4
1683. .Bainbridge (Village), N. Y... 4
1683. .Bainbrldge (Village), N. Y— 4
5
123. .Beaufort, So. Caro
4
63.
1684. .Berryville School Dlst., Ark_. 6
123. .Big Spring Ind. S. D., Tex— 5
5
1684.
4
1235
123.
1553.
4H
5
123. -Brookhaven. Miss
123- -Brown County Com. Sch. Dlst.
5
5
1684__Buckley School Dlst., Wash-
125.Hoigbhrlandk
123-.Buffalo, N. Y
Terms of Advertising—Per Inch Space
Transient matter per inch space (14 agate lines)
1554
123
1554
123
1684
123
1684
1684
123
123
1684
123
$4 20
( Two Months
StATidinir
Standing BnsirifiHS
Business Cards
cards
(8 times)
)< Three Months (13 times)
22 00
29 00
slx Months
(26
Twelve Months (52
50 00
times)
times)
87 00
CHICAGO OFFICE—P. Bartlett, 513 Monadnock Block; Tel. Harrison 4012.
LONDON OFFICE—Edwards & Smith, 1 Drapers’ Gardens, E. C.
WILLIADI B. DANA COMPANY, Publishers,
v.
.
P. O. box 958*
Front, Pine and Depeyster Sts.,
New York.
AND THE YEAR 1909.
The number of municipalities issuing bonds was much
smaller in December than in previous months, and were it
1909
1908
1907
1906
1905
1904
1903
1902
1901
$26,417,229
28,050,299
13,718,505
21,260,174
8,254,593
9,935,785
13,491,797
...
11,567,812
15,456,958
The foregoing
Month of
December.
For the
Twelve Mos.
1900
1899
1898
1897
1896
1895
1894
1893
1892
$332,476,317
313,797,549
227,643,208
201,743,346
183,080,023
250,754,946
152,281,050
152,846,335
149,498,689
.
_
For the
Twelve Mos.
$22,160,751
$145,733,062
4,981,225
118,113.005
103,084,793
137.984,004
106,496,060
114,021,633
117,176,225
77,421,273
83,823.515
7,306,343
17,855,473
10,664,287
8,545,804
13,486,374
17,306,564
3,297,249
shows that the total of bonds sold during
the twelve months in 1909 exceeded that for any other year,
aggregating more than 332 millions. Our files show that in
a majority of cases the sales made by the principal cities in
1909 were considerably less than those made in the previous
The long-term corporate stock and assessment bonds
year.
sold at public sale and to the sinking fund by New York City
during the old year amounted to $72,566,074, compared with
$73,340,859 in 1908. Philadelphia sold $19,375,000 bonds
in 1908 and only $8,739,700 last year.
Boston emitted
$4,970,700 bonds in 1908 and $2,986,900 last year. Chicago
issued only $1,500,000 in 1909 against $4,850,000 in 1908.
Newark last year sold only $100,000 bonds, against $2,155,000 the year before.
During the year we also reported $159,029,172 temporary loans, $106,495,519 Canadian loans,
$5,700,000 bonds of United States possessions and $16,750,000 general fund bonds of New York City, all of which
The
the
following table shows the monthly output in each of
years 1909 and 1908:
1909.
January .$29,258,403
17,938,316
February
_
_
March
32,680,227
37,345,352
27,582,815
62,194,450
April
May
June
Total
Average
per
month
1908.
$10,942,968
60,914,174
18,912,083
21,426,859
25,280,431
31.606,064
|
1909.
July
$20,047,193
22,220,590
August
September 21,757,971
October
16,046,336
November 18,987,435
Deoember. 26,417,229
1908.
$21,108,678
18,518,046
34.531.814
14,078,829
28,427,304
28,050,299
$332,476,317 $313,797,549
$27,706,359 $26,149,795
In the following table we give a list of December loans to
the amount of $26,417,229 issued by 190 municipalities.
In the case of each loan reference is made to the page in the
“Chronicle” where an account of the sale is given.
.Coffeyville Sch. Dlst., Kan—
-Collin County Com. Sch. DlstNo. 62, Tex
.Conconully, Wash
.Consort Bayou Dr. Dlst., Ark.
.Council Bluffs Ind. S. D. ,Iowa.
.Crookston, Minn
.Cummings Valley S. D., Cal__
.Cuthbert, Ga
1949
1924-1928
1914-1933
1914-1921
dl929-1949
Price*
$50,000 zlOO
200,000
101.075>
50,000 101.40
75,000
50,000
8.500
36,300
24,000 111.841
5,0001 100
2,000/
43,000
1940
1910-1919
54,000
(11914-1949
(11914-1919
.1939
1919
1910&19U
1910-1921
16,000
(11919-1929
(11910-1919
1910-1928
1934
1911-1915
1911-1920
Various
1934
1911-1930
1934
5
4
5
3
Amount.
1918
1929
5
(11919-1929
6
4
6
5
5
4
5
1919
1910-1914
1917
1939
1910-1929
1910-1912
5,000
3.000
30,000
15,000
20.000
12,000
101.50
100
100
100
100
102
100
100.50
101.25
1.500
35,000
100
50,000 ZlOO
27,500 102.170
11,000
100
16,040
100.45
27,800 Various
25,000
16,000
loo"—
60,000 103.89
32,000
104.79
11,000
3,610
104~033
507,000 100
2,000
5.500
35,000
57,000
2,361
3.500
20,000
300,000
6,000
100
100 —
100.635
101.60
103.87
100.462
101.241
Com. Sch. Dlst.
5
(11919-1924
7,000
5
6
4
5
(11919-1929
1,200
50,000
2,200
Com. Sch.Dlst.
1612__Deshler, Ohio
124--De Soto Parish, La1612.-Dover, Del
1685
124 ..Fruita, Colo.-.
1613 -Gallia County,
1554
1685 .Grand Rapids, Minn
1554 .Grand Tower Drain.
1911-1915
35,000
4« (11929-1959
124.-East Orange, N. J__
1613-_Elkhorn, Neb
1685..Essex County, Mass
1939
(11914-1929
1916-1923
1911-1920
(11919-1924
1914
4H
5
1929
1910-1914
4
5
4
5
6
25,000
20,000
10,000
115,000
125,000
20,000
100
100
102.05
101.50
101
104.335
95—
4,000
90,000
12,928
101.90
100
& Levee
6
1913-1921
11,700
5
4
4
5
5
5
(11914-1919
1911-1918
1919
1930
1910-1919
1929
1,200
4,000
124._Gray8on County Com. School
124.
.Greenport,
124..Greensburg
1613. _Greenville, So. Caro
124. -Greenwich, Ohio (6 issues)....
1613. -Greenwood, Miss. (2 issues)
1685. -Grimes County Com. School
5
64..Hamilton, Ohio (2 Issues)
1554
1613
Harris County Com.
No. 21, Tex...
(11919-1929
4
1924
1912
4H
District No. 20, N. Y
64..Hickman County, Tqnn
1686-.Hlcksville, Ohio
Park, Va.
168 6
125.
1686.
_
_
Irr.Dlst., Colo
Hollywood School
5
1,300
35,000
16,000
(11919-1949
10,000
1912-1948
4X d 1914-1929
5
1911-1915
1940
5H
6
1920-1929
1914-1943
4H
6
1921-1935
37,000
45,000
3,000
50,000
District,Cal.
.Hominy, Okla. (2 Issues)
.Hopkins County Com. School
4.20
District No. 89, Tex
5
1686. .Houston County Com. School
District No. 10, Tex
5
1686.
4X
125.
5
1686. -Jeffersonville Sch. City, Ind__ 4
1686.
5
125. .Joshua Ind. Sch. Dlst., Tex_. 5
1686. Kansas City, Kans
4H
1613.
5
1555.
5
64.
5
1555.
4
1686.
4H
125. .Lockland, Ohio.
4
125.
4
125. -Lone Tree School Dlst., Cal._. 6
1686. -Luzerne County, Pa._
4
‘
64_
5
1614. .Marblehead,
4
1614.
5
125.
6
1555.
4X
126. .Medford, Ore.
6
1687. -Meridian, Mist
5
126. .Milford, Iowa.
1264H
1687. .Mobridge, So. Dak.
5
126. .Montgomery County, Ohio,... 4H
126. .Montgomery County, Ohio
4H
126.
5
1687.
4
1555
5
1555
5
1687 __Muncie, Ind.
4
_
*
20,000
5,000
21,320
30,000
Sch. Dlst
1686..Hempstead Union Free School
excluded.
are
Township, Ill—
4
4
6
4
4
_Carrollton, Ohio (2 issues)
.Chambersburg Sch. Dlst., Pa.
.Clalrton, Pa
.Cleveland School Dlst., Okla__ 5
4
-Clinton, Mass
.Denton County
No. 6, Tex
1685. .Denton County
No. 63, Tex
1612
not for the fact that
large blocks of bonds were sold by New
York, San Francisco and a half-dozen other places the total
would have been much less than the average for that month.
As it was, the disposals reached $26,417,229, but of this
more than 19 millions were awarded by the following places:
New York City, $12,500,000; San Francisco, $4,000,000;
Holbrook Irrigation District, Col., $650,000; Sunnyside Irri¬
gation District, Idaho, $415,000; Schenectady, N. Y., $360,000; Portland, Ore., $347,854; St. Francis Levee District,
Ark., $325,000; Toledo, Ohio, $367,510; Cuyahoga County,
Ohio, $300,000. Other loans made in December, but which
cannot be properly included in our‘total, amounted to $25,060,687, consisting of $21,432,396 temporary loans, $1,878,291 Canadian debenture issues and $1,750,000 “general fund”
bonds of New York City.
The aggregate for December as
well as the twelve months for a series of years is shown in
the following table:
.Burnt Prairie
123.
63.
1612.
124.
124.
1612.
1685.
1612.
1685.
MUNICIPAL BOND SALES IN DECEMBER
Month of
December.
Name.
Page.
1687 .Murray, Ky
1687 .New Bedford, Mass
1614 .New Bern, No. Caro..
126 .New Cordell, Okla. (2 issues).
1614 .New Haven, Conn
1614 ..New Haven, Conn
1614 ..New Orleans, La
64 ..New Rochelle, N. Y
64 .New Rochelle, N. Y
64 ..New Rochelle, N. Y
1555 ..New York City (3 Issues)
126
126
126 ..Noble Township, Ohio
126
126 -North Adams, Mass. (2 Issues)
1614 -Oconomowoo. Wls
1557 ..Omaha School District, Neb._
1688 ..Osceola Spec. Sch. Dlst., Ark_
1688 ..Oshkosh, Wls
1615 -Palmer Ind. Sch. Dlst., Tex._
64 -Petrolla Ind. Sch. Dlst., Tex__
1615 -Phoenix S. D. No. 1, Ariz
5
4
5
6
4
4
5
4
5
4
4
100.16
100
103.516
102.042
100
101.903
100
2,200
19,550
?5,000
1910-1918
100.256
100.588
75,000
12,000
2,400
60,000
40,000
104.466
100.16
1939
(11914-1919
1940
1929
(11920-1930
1910-1919
1914-1915
1919
01915
1927
1915-1934
(11929-1949
1910-1924
1911-1917
1910-1919
1939
170,000
100
50,000 100.44
86,000
102.090
30,000
102.476
2,250
103.213
15,000 100.20
3,000
104.80
200,000 ylOO.669
9,000
30,000
103.25
15,000
104.303
14,000 100
21,000
101.966
15,000
100
50,000 4J4%bas.
12,000
10,000
1924
5,000
1911-1914
1911-1916
2,000
1919
/
1916
11917-1922
(11915-1930
1911-1930
1918&1919
1920-1923
1959
1958
1958
SK
3*
1910-1916
1910-1914
1910-1927
4
4
6
1929
1910-1929
5
5
5
101.051
100.406
d 1919-1929
1919
1914-1924
1939
H
102
1,000
(11910-1914
3
4
30,000
36,000
Various
(11919-1929
1939
(11919-1934
1930-1934
4H
4X
650,000
100.24
104.55
(11919-1929
(11919-1949
1929
3,500
50,000
30,000
25.000
10,000
5,000
30,000
23,000
100,000
50,000
37,500
100,000
25,800
150,000
39,000
46,700
43,000
101.02
100
102.22
100
101.25
100
100
100.731
100.70
100.10
104.36
103.722
ibl".099
100.05
101~.223
101.223
100.441
1
20,0001zl00
116,000j •r
2,800
2,000
51,583
10.000
150,000
20,000
50,000
12,000
10,000
125,000
100 'n
100
*4
109.28
6156847..PR5aoratisnhecwmde,toyl,n
11166557...--SSuoapslnraitngxfed
122
Page.
Nam*.
1 late.
1127.. Pike, N.fcY
-—
161».. Plainfield, N. J. (2 issues)
115682708..-WU5teriacbscaofu,nsled,
127..
1615.-Pratt, Kans—
1014-1028
■m
mm
+
(11020-1949
1011-1915
1920-1024
4
5
1912-1020
(11024-1930
4K 1015-1028
5
1034
5
(21010-1049
4
1950
5
O1027
,
School Dist., N. J..
127..Purcell Scb. Dlst., Okla
1657-.Quanah, Tex
N. J
,,
1408. Reedaburg, Wia
1615.-Richmond County, No. Caro..
.
Maturity.
4H
4
5
5
5
6
mi.. Plainvtew, Tex_.
127-. Poland, Ohio...
127-. Poland, Ohio
—
Amount.
Kans
Francis Levee Diet., Ark..
So. Dak
12?..Sallda Sch. Dlst. No. 7, Colo..
1615.-San Francisco, Cal. (5 Issues)
1615.-San Francisco, Cal
Barbara, Cal
4M
1940
1688.-Schenectady, N. Y__
4
1688—Scott T
(1910-1927
11928*1929
4H
4H
1010-1911
1911-1935
(21910-1929
1910-1919
1915-1034
1910-1913
1910-1934
1615—Sebring
1688..Sharon
5
4
5
6
5
5
4
5
128.-Shelby,
1688—SherlaanCo. S. D. No.7, Wyo.
1688.-Sherwood, Ohio
County, Cal
128..Sommervllle Co. Com.S.D.,Tex.
1408.-South Bend, Ind
65--South Milwaukee, Wis
1929
1929
500
(321,354
\ 26,500
72,000
20,000
22,000 102.133
7,500
26,000 100
75,000 100
107
20,000
15,000 1/100.333
1616.-Springfield, Minn
1616.-Stark County, No. Dak
128.-Sumner, Miss
1688—Sunnyside Irrig. Dlst., Idaho.
County, N. J
N. Y
1688-.Tacoma, Wash
128__Texas Co. S. D. No. 8, Okla..
128—Toledo, Ohio (10 issues)
128.-Toledo, Ohio
1408.-Toledo, Ohio..
t
1680-.Toppenlsh, Wash
20,000
1912
1929
850
100.05
100
100
100
5
5
5
1688.-Tyler, Minn
1688--Utica, N. Y
N. Y
1680.-Utica, N. Y
1929
1010-1915
1929
1940*1941
4
4H
4H
4X
4H
-
1558--Valley County, Mont
1680.-Waltham, Mass
120--Watertown, Mass..
128.-Watertown, Mass.
120-_Wathena, Kan—
City, Mo
N. Y
—.
4
4
4
5
5
1939
1919*1929
1930
1929
1910-1927
1910-1917
1910-1914
1930
1911-1920
1914
1917
(21919-1929
4)4 1913*1914
1924
5)4
Ore
Union, Ohio.-.-.
6
550- Wharton, Tex
1617.-White Plains, N. Y
65_-White Plains, N. Y
1911-1915
-
4)4
1940
4.10
1939
1950
65.-Wilmington, No. Caro
4)4
1680__Wise Co.Com.S.D.No.23,Tex-_ 5
(21014-1910
4
1600.-Wood County, Wis
1915-1929
120.-Woodward Co.S.D.No.55,Okla 6
1930
120.-Wooster, Ohio
120--Wooster, Ohio
600--Worcester, Mass
680--Worcester, Mass
600..
4
1919
1019
1919
3)4
60,000
6,000
415,000
100.75
34,000
101.435
100,000
102.155
100,000
101.50
8,000
37,510 [*100
30,000,
101.31
300,000
24,000
100
200,000
20,000
55,000
100.622
49,000
102.387
8,000
104.145
18,000
101.226
4,800
(5,278
101.178
83,000
20,000
2,000
4,000,
7,000
11,500
3,000
25,000
1,000
8,000
100,000
12,000
100,000
2,000
130,000
1,000
7,0001
2.100J
20,0001
4)4
4
4
1617.. .Worthington, Minn-—
1617. .Youngstown, Ohio (4 Issues)..
.
101.50
102.57
100
103.10
100
106.143
100
101.789
100
100
101
100.274
15,000
20,000
103.022
12,000
11,285
104.166
d Subject to call In and after the earlier
k Not Including 821,432,306 of tem¬
not belong In the list; also does not
Include 51,815,816 of Canadian loans and 51,750,000 “general fund” bonds
Issued by New York City,
* Taken by sinking fund as an Investment.
y And other considerations.
BONDS SOLD BY CANADIAN MUNICIPALITIES.
—
130. ~
*
1680. -Claresholm Sch. Dlst., Alta
1801690.
120- .Fort Saskatchewan, Alberta._
1301618- .Good Hope S. D. No. 660, Alta
180- .Granum S. D. No. 1280, Alta.
130.
5
5
5)4
5*6
6
5
5)4
5)4
4)4
5
130- .Halbrlte, Sask
5
130- .Hudson Township, Ont
130- .Keephlll’s School Dlst., Alta.. 5)4
1818. .Kipling School District, Sask._ 5)4
1305)4
5
1618. -Lucknow, Ont.
130. -Melville, Sask..
16911601- -Midland, Ont
130. .Milk River Val. S. D., Alta._1691. .Millet School District, Alta
1691130. .Montmartre Sch. Dlst., Sask.
66. .Montreal Catholic S. D., Que..
66.
1601.
130.
66. .Notre Dame de Grace, Que...
131.
1601.
1618. .Ottawa Separate S. D., Ont—
—
r
Ill-
.Paragon Sch. Dlst., Sask
131- .Pipestone, Man
1618.
1691131.
1618131131.
1691.
1691.
131131.
1618.
Roxborough Township, Ont_.
5
5
5)4
5)4
4
6)4
4
5
5
5
4)4
6
5
4)4
5)4
4
5
5
6
.Russia School Dlst., Alberta..
.St. Jean S. D. No. 1508, Man.
6
Semans, Sask
.SemansS. D. No. 2428, Sask.. 5
Strathroy, Ont-.
4
.Strathroy, Ont
5
Swift Current, Sask
6
Vlsoount, Sask
6
Winchester, Ont
5
—
Total
Maturity.
Amount.
1947
31,000
45,000
1929
1920
1919
1910-1939
1929
1910-1939
1911-1930
1914-1919
1910-1929
1910-1929
1911-1920
1910-1929
1919*1929
1910-1924
1910-1929
1919
1910-1929
1911-1930
1910-1924
1010-1929
1910-1939
1019
1919
1929
1910-1924
1949
1910-1929
1959
1949
1949
1910-1919
1910-1919
1939
1919
1929
1934
1814-1910
1019
1810
1011-1030
1010
1010-1029
1010-1010
1010
1910-1010
1010-1029
1,200
1,200
5,440
14,500
7,000
2,000
11,026
6,000
3,150
750
13,000
21.378
3.000
Price.
06.895
100
Vernon
104.35
100.166
103.760
97.10
800
14,000
2,000
100.833
104.752
10,000
1,000
12,240
81.878,201
3371,966
25.000
20,000
1,200
35,000
1020*1025
1910
1034
6
6
4
65—Wichita, Kan. (August)
107.72
100
102.75
1016, •17**18
45,000
5
5
1924
1919-1933
1920-1929
15,000
75,000
102
104.30
5
5
4
(11919-1929
(11929-1049
1910-1039
1,500
25,000
15,000
100
100
100.666
5
(11939-1049
8,250
100,000
22,650
100,000
15,500
25,000
5)4
6,500
School
128—SoutholdS.D.No.l6,N.Y.(Sep.)
Price.
100
100
4
1036
6
4
1910-1029
1911-1921
1912-1936
1912.-1921
7,500
5
1913-1919
29,000
M
4)4
4
100
1/96.825
101.241
100.60
100.816
100
101
All the above sales (except as indicated) are for November.
These additional November issues will make the total sales
(not including temporary loans) for that month $18,987,435.
News Items.
Virginia—West Virginia.—Argument in
Debt Case Con¬
in the debt-settlement case before
Special Master Charles E. Littlefield came to an end last
Saturday night (Jan. 1). Mr. Littlefield will now take the
case under consideration and
prepare his report to the United
States Supreme Court.
See V. 89, p. 1438.
cluded.—The hearing
Bond Proposals and Negotiations this
hare bean
as
follows *
Akron School District (P. O. Akron), Ohio.—Bond Sale.—
The $50,000 4% Lincoln School bonds voted on Nov. 30
1909
(V. 89, p. 1553)
ing Fund Trustees at
Denomination
51,000.
were
par.
sold
on
Date
Dec.
15
Dec. 1 1909 to the Sink¬
1009.
Maturity 55,000 yearly from 1912 to 1017 Inclusive
the years 1918 and 1910.
Interest
and
semi-annual.
510,000 In each of
-
Alhambra
City School District, Los Angeles County, Cal.
$50,000 4^% 1-25-year
(serial) bonds described in V. 89, p. 1553, were awarded to
Los Angeles parties, according to reports, at 101.40—a basis
Aquilla Independent School District (P. O. Aquilla), gill
County, Tex.—Bond Sale.—Reports state that the $8,500
5% 40-year school-house bonds registered by the State
Comptroller on July 15 1909 (V. 89, p. 238) have been sold.
Ashtabula, Ashtabula County, Ohio.—Bids Rejected.—
All bids for the $390,000 4% coupon river-improvement
bonds offered on Dec. 29 1909 and described in V. 89, p. 1494,
were rejected.
Auglaize County (P. O. Wapakoneta), Ohio.—Bond Sale.
—The $24,000 5% county infirmary bonds described in
V. 89, p. 1494, were awarded on Dec. 29 to Hayden, Miller
Hayden,Miller&Co., Cle..526,842
Prov.Sav.*Tr.Co., Cin_._ 26,767
Sea8ongood*Mayer, Cln_. 26,707
Clt.SafeDep. ATr.Co., Tol_ 26,678
Cleveland Tr. Co., Cleve. 26,658
HarrisTr.&Sav.Bk., Chic. 26,630
C.E.Denlson&Co., Cleve. 26,613
Weil, Roth * Co.. Cin
26,608
Tlllotson&WoloottCo.,Cle. 26,527
00
20
20
00
00
14
60
Field,Lougstreth*Co.,Cin.326,525
00
First Nat. Bk., Wapak’ta. 26,525 00
OhloSav.Bk.&Tr.Co., Tol. 26,520 00
Otls & Hough, Cleveland. 26,460 00
Fifth-ThirdNat.Bk.. Cln__ 26,417 00
First Nat. Bk., Cleve
26,332 00
NewFlrstNat.Bk. ,Colum_ 26,203 00
80 Thos. J. BolgerCo., Ohio.. 25,730 40
20 Farson, Son*Co., Chic._
24,001 50
All bidders offered accrued ’interest in addition to their bids.
Maturity
f®*1 818 foUows: *5*000 yearly from 1024 to 1027 Inclusive and 54,000
Avon, Livingston County, N. T.—Notes to Be Issued Next
are informed that the road and bridge notes
mentioned in V. 89, p. 1494, will be issued next
spring and
that they will be disposed of to the local bank.
Spring.—We
Bakersfield-Kern City, Cal.—Consolidation.—The electors
Dec. 20 1909 voted to consolidate these two cities.
The
vote in Bakersfield was 518 to 186 and in Kern 265 to 154.
Bartow County (P. O. Oartersville), Ga.—Bonds
Proposed.
—We are informed that the last Grand Jury recommended
the issuance of $200,000 bonds.
Our informant adds, how¬
on
96.552
that up to Dec. 25 1909 the Board of County Commis¬
sioners had taken no action on the recommendation.
ever,
Bajr City, Tex.—Description of Bonds.—We
800
2,000
2,800
20,000
1,191
Amount.
1914
(11029-1949
1128.-Terrace PaTk, Ohio (October). 4)4
in
12,0001
2,370/
Ind.
District, Tex. (October)...
Fla
64_ _St. Clalrsvllle, Ohio
Barbara County, Cal
Ind
3,500
1,500
1,500
12,000
3,000
450,000
20,000
398,000
128,000
400,000
1,800
7,456
160,000
1,500
25,000
28,000
11,681
1,000
__
Maturity.
& Co. of Cleveland at 111.841 and accrued interest—a basis
of about 4.012%.
The following bids were received:
1,500
6,000
Bate.
4
5
5
of about 4.358%.
Average date of maturity,
Name.
1late.
5
130.-Aylmer, Que
66_.Bracebrldge, Ont
4H
130--Campbelltown School District
No. 2297, Sask
5H
130--Canton, Alberta
5X
6
1680--Cardston, Alta
Name.
N Y
123. Canyon, Tcx_.
124—Croswell School District, Mich.
Palestine, Ohio (October)
124-.Edmond, Okla. (3 issues)
63—Elgin Township Union School
District No. 46, III
124-.Grand Rapids, Minn. (Sept.)-.
125.-Hillsdale Twp., N. J. (Sept.)..
125__Love County, Okla. (2 Is., July)
Ind. School Dlst.,
Tex. (October)
64. .Merkel, Tex. (October)
N. Y. (October)
—Bond Sale.—On Dec. 20 1909 the
year and mature In the later year,
porary loans reported, and which do
Page.
Page.
875,000
....
following additional
previous months:
102.10
k526,417,228
—
We have also learned of the
Amount.
101.789
,
Total bond sales for December 1000 (180 municipali¬
ties, covering 245 separate Issues)
Name of Municipality.
64..Rahway, N. J. (May list)
128--Taunton, Mass. (July list)
i...
40,000 102.1075
324.000 *100
36,000 100.38
100
1,000
25,000
104.32
10,000 100
100
4,000
104.10
100,000
102.025
4,000
250,000
105.95
O1920
^
1680.-Trenton, N. J.
120.-Trenton, Tenn
65_-Tuscaloosa, Ala. (2 Issues)
1558--Twin Falls Sch. Dlst., Idaho..
Page.
550
4H
6
5
4
4
REVISBP TOTALS FOB PREVIOUS MONTHS.
following items, included in our totals for previous
months, should be eliminated from the same. We give the
page number of the issue of our paper in which the reasons
for these eliminations may be found.
100
103
106.07
102.583
106.366
LXXXX.
The
101.60
30,000
15,000
(21910-1929
1921-1930
1939
1941-1944
[Voti.
.
Pleasure Driveway
4
6
4
6
6
4
4
162578.-_PSehnstbaycovle,
Price
106.084
100.03
100
101.507
105.10
104.10
*100
100.209
15,000
88,000
20,000
3,250
5
1040
4
1029
0,500
5
1930
25,000
5
325.000
5
8,000
5
(21918-1020
34,000
5
3,640,000
4 H
360,000
1686--Rockford S. D. No. 4, No.Dak
a
116224534..-MBEuafstutaigsloo,rdwan,
THE CHRONICLE
that if the $13,000 water and street bonds voted
100.607
104~.5675
1909
are advised
on
Nov. 10
(V. 89, p. 1365) are approved by the Attorney-General,
they will take the place of the $12,000 street and $3,000
water 5bonds voted (V. 89, p. 238) on
July 10 1909.
The original issues were withdrawn from the market as the
Attorney-General refused tp approve them on account of/a
technicality.
JAM.
the CHRONICLE
81910.]
123
Bayou Terre-*ux-Bo«tifs Drainage District, La—Bond awarded to Chisolm A Chapman at 103.51—a basis of about
Feb. 8 by 4.291%.
Commissioners, B. F. Estopinal (P. O. St.
Offering.-r-Propoaala will be received until 13
the Board of
m.
Howard K. Stokes. N. Y
Bernard), Secretary, for $165,000 5% bonds.
Authority, Article 281, Constitution of Louisiana. Denomination $1,000.
Interest annual. Maturity 40 years, subject to call alter 10 years. Cer¬
tified check for $2,500, payable to the Board of Commissioners, fts required.
H. L. Favrot, 688 Hennen Bide., New Orleans, Is Attorney lor the Board.
The
offidol notice of this bond offering will bs found
this department.
Following are the bids*
among
Maturity Dec. 1 1939*
Burnt Prairie Township (P. O. Burnt Prairie)* White
Counter, III.—Bond Sale.—On Dec. 18 1909 $11,000.1$%
special bridge bonds were awarded to the National Bank of
Carmi at par
the advertisements elsewhere in
101.933]
and accrued interest.
Denomination $1,000. Date Doo. 1 1909, Interest annual.
part yearly on Dee. 1 from 1911 to 1915 inclusive.
Maturity
Beaufort, Beaufort County, So. Oar.—Bond Sale.—On
Dee. 151909 the People's Bank of Beaufort was awarded at
Caldwell County (P. O. Lockhart), Tex.—Bonds Not Sold.
101.50 the $43,000 5% 20-40-year (optional) coupon water¬
—No disposal has yet been made of $50,000 5% 5-40-year
works and electric-light-plant bonds described in V. 89, p.
(optional) Road District No. 1 bonds, bids for which were
1495,
asked until Aug. 5 1909.
Denomination $1,000.
Date July 12 1909. These bonds were regis¬
Bellaire School District (P. O. Bellaire), Belmont County,
Ohio.—-Bond Sale.—The $9,000 4% school bonds described tered by the State Comptroller (V. 89, p. 299) on July 22 1909.
in V. 90, p. 63, were sold on Jan. 3, it is stated, to the Dollar
California.—Bend Sale.—N. W. Halsey A Co. of San
Bank of Bellaire for $9,001—the price thus being 100.011. Francisco were the successful and only bidders on Jan. 3
for the $250,000 4% gold coupon San Francisco sea-wall
Maturity Sept. 15 1916.
Big Spring Independent School District (P. O. Big Spring), bonds, a description of which was given in V. 89, p. 1554.
Howard County, Tex.—Bond Sale.—The $16,000 5% 5-40- They paid par. Maturity Jan. 2 1924, subject to call, how¬
year (optional) bonds registered by the State Comptroller ever, part yearly on Jan. 2 beginning 1915.
on Sept. 23 1909 (V. 89, p. 869) have been bought by the
Canyon, Randall County, Tex.—Bond Sale.—An issue of
Woodmen of the World at par.
$25,000 5% 20-40-year (optional) water-works and sewer
Bluffton School District (P. O. Bluffton), Wells County, coupon bonds offered on Nov. 19 1909 was sold on Nov. 29
Xnd.—Bonds Proposed.—It is stated that this district in¬ 1909 to the contractor, H. A. Campbell, at par and interest.
tends floating an issue of $49,000 4% school-building bonds.
Denomination $1,000.
Date Aug. 4 1909. Interest annually in New
York or Canyon City, at option of the holder.
These bonds are exempt
Denomination $50. Interest January and July.
from taxation and were registered by the State Comptroller (V. 89, p. 1495),
Boone County (P. O. Lebanon), Ind.—Bond Offering.— on Nov. 26 1909.
Proposals will be received until 11 a. m. Jan. 15 by B. F.
Carroll, Neb.—Bonds Not Sold.—No award has yet been
Herdrich, County Auditor, for the $200,000 4% coupon made of the $9,000 5)4% 20-year water-works bonds, bids
court-house bonds.
for which were asked until Oct. 8 1909.
Denomination $1,000.
Date Jan. 15 1910.
Interest May 15 and
Nov. 15 at the First National Bank of Lebanon.
Maturity $10,000 eaoh
six months from May 15 1911 to Nov. 15 1920.
These bonds were offered
without sucoess as 3 mb on Nov. 15.
See V. 89, p. 1355.
Brady Township (P. O. Bryan), Williams County, Ohio.—
be received until 12 m. Jan. 12
by Henry Reifel, Township Clerk, for $5,000 4)4% coupon
highway-improvement bonds.
Bond Offering.—Proposals will
Authority Section 2835, Revised Statutes.
Denomination $500.
Date
Jan. 11910.
Interest semi-annually iu West Unity. Maturity $500 yearly
on Meh. 1 from 1911 to 1920 Inclusive.
Purchaser to pay accrued Interest
Branchville, Sussex County, N. J.—Bond Sale.—The
$20,000 water-works bonds (the unsold portion of the issue
of $30,000 4)4% 30-year gold coupon bonds dated July 11909
mentioned in V. 89, p. 1236), have been disposed of to local
investors
at
102.
Breckenridge, Wilken County, Minn.—Bond Sale.—The
Thos. J. Bolger Co. of Chicago, offering par and accrued
interest, was the successful ana only bidder on Dec. 27 1909
for the $15,000 5% 10-year coupon geheral fund refunding
bonds described in V. 89, p. 1684. Interest semi-annually at
place to suit purchaser.
Broken Arrow, Tulsa County, Okla.—Bond Offering.—
Chambersburg School District (P. O. Ohambersburg),
County, Pa.—Bond Sale.—An issue of $27,800 4%
high-school-building bonds was disposed of on Dec. 18 1909
Franklin
as
follows:
$1,000 due 1911, awarded to H. S. Gilbert at 101.
2,800 awarded to W. K. Sharpe as follows: $1,000, due 1911, at 100.50;
$400, due 1913, at 100.70; $400, due 191$, at 100.55, and $1,000.
due 1923, at 101.
2,000 awarded to G. M. Orr as follows: $1,000, due 1912, at 100.80, and
$1,000, due 1914, at 100.30.
2,000 awarded to G. w. Immell as follows: $1,000, due 1912, at 100.70,
and $1,000, dne 1913, at 100.70.
800 due 1914, awarded to G. Danzberger at 100.40.
1,400 awarded to J. A. Brown, $400, due 1914, at 100.90, and $1000,
due 1917, at 101.25.
10,000 awarded to G. H. Stewart as follows: $1,000, due 1915, at 100.85;
$2,000, due 1916, at 100.95; $2,000, due 1919, at 100.75; $1,000.
due 1920, at 100.95; $1,000, due 1921, at 101.35; $1,000, due 1922,
at 101.30; $1,000, due 1922, at 101, and $1,000, due 1925, at 101.25.
8,000 awarded to G. A. Wood as follows: $1,000, due 1917, at 101.05;
$1,000, due 1918, at 100.80; $1,000, due 1918, at 100.75; $1,000,
due 1923, at 101.30; $1,000, due 1924, at 100.85; and $1,000, dne
1924, at 100.75.
2,000 awarded to H. Slaughenhaup as follows: $1,000, due 1920, at 100.75,
and $1,000. due 1921, at 101.35.
Denomination $200.
Cheviot, Hamilton County, Ohio.—Bond Offering.—
Proposals will be received until 8 p. m. Jan. 10 by P. A. Proposals will be received until 12 m. Jan. 10 by Cnas.
Fox, City Clerk, for $37,000 5% coupon water-works bonds Craig, Village Clerk, for $1,500 water-extension, $1,000
voted on Dec. 1 1909.
fire-department and $1,000 highway-improvement 5% cou¬
Denomination $500.
Date Jan. 1 1910.
Interest semi-annually at the
Maturity Jan. 1 1935. Certified check for 5%
payable to the City Clerk, is required. Bonds are taxBonded debt, including this Issue, $42,500. Assessed valuation
City Treasurer’s office.
of bonds bid for,
exempt.
$300,000.
Real valuation (estimated), $950,000.
Brookhaven, Miss.—Bond Sale.—An issue of $12,000 5%
1-12-year (serial) city-hall bonds was sold on Dec. 30 1909
to the Commercial Bank of Brookhaven at 101.25—a basis
of about 4.775%. The following bids were received:
Commercial Bk., Brookh’en.$12,150lBrookhavenBk.ATr.Ck>., Br.ol2,100
(John Nuveen A Co., Chicago. 12,000
—
a
And furnish bonds.
We are informed that several other bids were also received but were not
considered, “owing to the fact that they were not property made."
Date Jan. 15 1009. Interest annual.
nomination $1,000.
De¬
Brown County Common School District No. 49, Tex.—
Bond Sale.—The Brown County School Fund has purchased
the
pon
bonds.
Authority, Sections 2835, 28355, 2836 and 2837, Revised Statutes. De¬
nomination one-tenth of each issue. Date Deo. 7 1909. Interest semi,
annually at the First National Bank In' Cheviot. Maturity 10 yearsBonds are exempt from taxation.
Certified check for io% of each issue
bid for, payable to the Village Treasurer, Is required.
Purchaser to pay
accrued Interest.
Ohillicothe, Livingston County, Vo.—Bonds Voted.—An
election held Dec. 23 1909 is said to have resulted in
a ma¬
jority of nearly 500 votes in favor of the issuance of $50,000
electric-light-plant bonds.
Olaremore, Rogers County, Okla.—Bond Election Pro¬
posed.—Papers state that this city is making arrangements
to vote on the issuance of the following bonds: $17,500 for
water purification, $17,500 for water-works-extension, $15,500 for a city park building and site and $10,000 for parks.
Cleveland School District (P. O. Cleveland), Shawnee
County, Okla.—Bond Bold.—The $16,000 5% 25-year school
bonds, proposals for which were asked until Nov. 15 1909
(V. 89, p. 1294), have been sold to G. W. Lillie of Pawnee
$1,500 5% 10-20-year (optional) bonds registered by the
Comptroller (V. 89, p. 1294) on Oct. 22 1909.
Buffalo, N. Y.—Purchasers of Bonds.—The purchasers of
the $371,966 66 4% 5-year registered Elmwood Ave. im¬
\
provement bonds disposed of at par on Nov. 29, wereas fol¬ at par.
lows: $270,000 awarded to the Bank for Savings in the City
Cold Spring, Steams County, Minn.—Bond Sale.—The
of New York, $100,000 awarded to the East Side Savings $11,000 water-works bonds voted on Nov. 22 1909
(V. 89,
Bank of Rochester and $1,966 66 awarded to the German- p. 1439) have been
disposed of as 4s to the State of Minnesota.
American Bank of Buffalo.
Collin County Common School District No. 62, Tex.—Bond
Bond Issue.—The issuance of a $1,440 4% bond has
Sale.—The $2,Q00 5% 10-20-year (optional) bonds registered
been authorized. Under the terms of the ordinance the
on Nov. 10 1909 (Y. 89, p. 1366) were
disposed of recently
bond is to be taken at par by the City Comptroller in to
the Permanent School Fund of-Collin County.
trust for the Western New York A Pennsylvania Railroad
Collinwood, Cuyahoga County, Ohio.—Bond Sale.—On
Grade Crossing Sinking Fund. The bona will be dated
Jan. 1 1910 and will be payable, both principal and interest, Dec. 13 1909 an issue of $3,610 5% bonds was awarded to
the First National Bank Qf Cleveland for $3,755 60, the price
on
July 11910 at the City Comptrollers office.
being 104.033.
During the month of December 1909 $50,000 water-re¬ thus
Date Oct. 1 1989. Interest semi-annual.
Maturity 1918.
funding and $11,410 38 monthly-local work 4% bonds were
Conconully,
Okanogan
County,
Wash.—Bond
Sale.—The
purchased by the various sinking funds at par. The former
issue matures $2,5Q0 yearly on Dec. 15 from 1910 to 1929 $5,500 water-works bonds voted on Oct. 15 1909 (V. 89,
inclusive, while the latter issue is due Dec. 15 1910. Both p. 1294) have been sold to the State of Washington at par.
issues are dated Dec. 15 1909.
Conway, Beaver County, Pa .—Bonds Not Sold.—We are
Buxltogtoa, N. J.—Bond Sale.-*On Jan. 4 the $17,000 advised that no award has yet been made of the $20,000 5%
4)4% coupon (with privilege of registration as to principal) coupon municipal-water-plant bonds offered on Oct. 4 1909
city-hall-remodeling bonds described in V. 89,p.1684,were and described in Y. 89, p. 870.
State
134
THE CHRONICLE
Orookston, Polk County, Minn.—Bond Sale.—On Dec. 14
1909 $2,361 90 6% Alexander St. and Riverside Ave. sewerconstruction (assessment) bonds were awarded to the Board
of Sinking Fund Commissioners for $2,376 90, the
price
thus being 100.635.
Denominations
annual.
$228 88
and
$243 38.
Maturity part yearly for 5
Date
Dec.
17
1009.
Interest
years.
r
Oroswell School District (P. O. Oroswell), Sanilac
County,
Mich.—Bond Sale.—An issue of $20,000 5%
school-building
bonds was awarded on Nov. 15 1909 to Reynolds, Watson
& Co. at 107.72.
Date Jan. 1 1910.
Interest annual.
and $10,000 In 15 years.
Maturity $10,000 In 10
years
Cummings Valley School District (P. O. Tehachipi), Kern
County, Cal.—Bond Sale.—The $3,500 5% 7-year school¬
building bonds proposals for which were asked until Dec. 2
1909 were sold on Dec. 9 1909 to the First Bank of Kern at
101.60—a basis of about 4.729%.
Denomination $500. In¬
terest
annually in June.
Cuyahoga County (P. O. Cleveland), Ohio.—Bond Offer¬
ing.—Proposals will be received until 11 a. m. Jan. 12 for
the following 4J^% coupon Miles Ave. No. 3
improvement
bonds:
$22,000 assessment bonds.
Denomination $1,000.
Maturity $1,000 each
six months from April 1 1910 to Oct. 1 1918 Inclusive and
$2,000
on April 1 1919 and $2,000 on Oct. 1
1919.
94,350 county’s share bonds.
Denomination $1,000r except one bond of
$350.
Maturity $350 April 1 1910, $2,000 Oct. 1 1910, $5,000
each six months from April 1 1911 to Oct. 1 1918
inclusive, $6,000
on April 1 1919 and $6,000 on Oct. 1 1919.
Authority Section 22b and 4637-9, Revised Statutes. Date Jan. 1 1910.
Interest on April 1 and Oct. 1 at the County Treasurer’s office.
Certified
check for 1 % of bonds bid for, payable to the
County Treasurer, Is required.
Purchaser to pay accrued Interest.
David City, Butler County, Neb.—Bond
Offering.—Pro¬
posals will be received until Jan. 12 for the $20,000
water-extension and $20,000 electric-light
plant 5% bonds
mentioned in V. 89, p. 1366.
Authority Sections 8705 and 8928 Cobbeys Complete 1909 Statutes.
Denomination $500. Date Oct. 1 1909.
Interest semi-annually at the
State fiscal agency In New York City.
Maturity 20 years from date, the
water bonds being subject to call after 10
years and the electric-light bonds
subject to call after 5 years.
Certified check for 10% of amount bid Is
Official circular states that no previous bond Issue has ever
required.
been contested and that there Is no litigation
pending affecting the validity
of these bonds, the corporate existence or the boundaries of said
munici¬
pality or the title of Its present officials to their respective offices.
Delano, Wright County, Minn.—Bond Offering.—Pro¬
posals will be received until 2 p. m. Jan. 10 by Fred. Brandes,
Village Recorder, for $2,500 water-tower and tank bonds.
Denomination $500.
Date Jan. 1 1910.
Interest (rate not to exceed
6%) semi-annually at such place in the State of Minnesota as the
purchaser
may desire.
Maturity $500 yearly on Jan. 1 from 1921 to 1925 inclusive:
subject to call after Jan. 1 1915.
De Soto Parish (P. O. Mansfield), La.—Bonds Awarded in
Part.—Up to Dec. 23 1909 about $35,000 of the $70,000 5%
coupon road-building bonds offered on Oct. 15 1909 and de¬
scribed in V. 89, p. 947, had been disposed of at
par to the
Whitney Central National Bank of New Orleans “and others.”
Detroit, Mich.—Bond Sale.—The following bids were
received on Jan. 3 for the $216,000 public-school and the
$149,000 sewer 33^% 30-year coupon bonds described in
V. 89, p. 1612:
[VOL.
LXXXX
Findlay School District (P. O. Findlay), Hancock County,
Ohio.—Bond Election.—An election will be held Jan. 12, it
is stated, to vote upon a proposition to issue $25,000 school¬
building bonds.
•
Fitchburg, Cal.—Price Paid for Bonds.—We are advised
price paid for the $75,000 6% 1-20-year (serial)
sewer-system-construction bonds, the sale of which was men¬
tioned in V. 89, p. 1685, was
par. Denomination $500.
Date
that the
July 1 1910.
Interest semi-annual.
Florence, Florence County, So. Car.—Bond Offering.—Pro-
gosals
will beandreceived
until for
11 a.them.$70,000
D. Lucas,
Jan. 31 5%
by M.
ity Clerk
Treasurer,
sewer bonds
voted
on
Dec. 21 1909.
(V. 89,
p.
1685.)
Denomination $1,000.
Date Jan. 1 1910.
Interest semi-annually at
place to be agreed upon.
Maturity 40 years, subject to call after 20 years.
Certified check for $1,000, payable to the “City of Florence,” Is
required.
Foard County (P. O.
The State Comptroller
Crowell), Tex.—Bonds Registered.—
on Dec.
27 1909 registered the
$60,000 5% 10-40-year (optional) court house bonds voted
on
June 12 1909.
See V. 88, p. 1572.
Forest City, Rutherford
Sold.—We are advised that
County, No. Car.—Bonds Not
award has yet been made of
$25,000 water and light bonds offered on Aug. 31 and
described in V. 89, p. 550.
Fruita, Mesa County, Colo.—Bond Sale.—The $20,000 6%
coupon water-system bonds offered on Sept. 30 1909 and de¬
scribed in V. 89, p. 796, were awarded to the First Bank of
Fruita at 95.
Maturity Sept. 1 1924, subject to call after
Sept. 11919.
no
the
Gates, Tenn.—Bonds Not Sold.—Up to Dec. 29 1909
no
award had yet been made of $5,000 6%
20-year coupon
school bonds, proposals for which were asked until
Aug. 21
1909.
Denomination $500.
Date Sept. 1 1909.
Interest annually at the First
National Bank in Chicago.
Bonds are exempt from town taxes.
This
town has no debt at present.
Assessed valuation for 1908, $100,000.
Grand Rapids, Itasca
County, Minn.—Bond Sale.—The
$6,500 road and bridge bonds described in V. 89, p. 487,
were awarded on
Sept. 9 1909 to the Fargo Investment Co.
of Fargo, No. Dak., as 53^s.
Maturity July 1 1924.
Grand
Rapids School District (P. O. Grand Rapids), Kent
County, Mich.—Bond Sale.—The following proposals were
submitted on Jan. 3 for the $125,000 43^%
coupon high-
school bonds described in V.
89, p. 1613:
Detroit Trust Co., Detroit.-$131,450 W. R. Compton Co., St.
L..$129,701
Harris Tr. As Sav. Bk., Chic. 130,512 First National Bank, Cleve.
129,238
Spltzer As Co., Toledo
130,348 A. B. Leach As Co., Chicago. 128,675
Security Sav.Bk. AsTr.Co.,Toll30,195 Child, Hulswit As Co
127,812
N. W. Halsey & Co., Chic.. 130,115 Michigan Trust Co
79,351
Farwell Trust Co., Chicago. 130,042 Matthew Finn, Detroit
178,188
Thos. J. Bolger & Co., Chic. 130,036
151,956
Maturity on
000 in 1919.
Sept. 1
as
follows: $50,000 in 1918 and $75,-
Grayson County (P. O. Sherman), Tex.—Vote.—The vote
the proposition to issue $250,000 43^%
10-40-year (op¬
tional) Road District No. 1 bonds at the election held Dec. 18
$216,000 bonds. $149,000 bonds.
1909 (V. 89, p. 1685) was 576 “for” to 260
Sinking Fund Commission
“against.” Up
$224,186 40
$154,647 10
Detroit Trust Co., Detroit
to Dec. 30 1909 they had not yet been placed on the market.
221,219 40
152,735 60
Security Trust Co.. St. Paul
219,585 60
N. W. Halsey & Co., Chicago
Grayson County Common School District No. 105, Tex.—
219,045 60
150,504 90
Matthew Finn, Detroit (for $100,000 bds.K, 100,888 00
Bond Sale.—The $1,200 5% 5-10-year (optional) bonds men¬
Chas. Stephens, Trowbridge (for $2,000 bds.)
2,080 00
tioned in V. 89, p. 1367, were disposed of to the Permanent
East Cleveland School District (P. O. East
Cleveland), School Fund of Grayson County.
Cuyahoga County, Ohio.-—Bond Offering.—Proposals will be
Greenport, Suffolk County, N. Y.—Bond Sale.—The
received until 2 p. m. Jan. 17 by H. F.
Jordan, Clerk Board Southold Savings Bank of Southold was the successful
bidder
of Education, for the $100,000 4}^%
coupon school bonds for the
$4,000 4% lighting-plant bonds described in V. 89,
voted (V. 89, p. 1236) on Nov. 2 1909.
p. 1496.
Maturity $500 yearly on Dec. 31 from 1911 to
Denomination $1,000.
Date, day of sale.
Interest semi-annually at
on
,
1918 inclusive.
the Superior Savings Bank As Trust Co. in Cleveland.
Maturity 20 years.
Certified check on some bank In Cuyahoga County for 10% of
bid, made
payable to the Treasurer Board of Education, is required.
Bonds are nontaxable.
Delivery within 10 days from the time of award.
of
KPEast
Dec. 28 1909 to the Union Trust Co. of
Orange, N. J.—Bond Sale.—On Dec. 29 1909 J. S.
Rippel of Newark purchased $20,000 4% coupon sewer-
construction bonds at 101.50 and accrued interest—a basis
of about 3.92%.
Interest semi-annual. Maturity Dec. 1
1939.
East Palestine, Columbiana County, Ohio.—Bond Sale.—
The $1,200 6% water-plant-extension bonds described in
V. 89, p. 1099, were sold on Oct. 25 to the First National
Bank of East Palestine at par.
Maturity Oct. 1 1910.
East St. Louis (Ill.) Sanitary Sewer District.—Bonds
Offered to Investors.—The Mercantile Trust Co. of St. Louis
is offering at par and interest an issue of $675,000
5% coupon
bonds of this district.
IK Denomination $500.
Date Jan. 1 1910.
Interest annually on July 1
at the City Treasurer’s office or through the Mercantile Trust Co. of
St.
Louis.
Maturity $36,000 on Jan. 1 1912 and $35,500 yearly from Jan. 1
1913 to Jan. 1 1930 inclusive.
Bonds will be ready for delivery about
Actual value of property In district Is estimated at $40,000,000.
Jan. 15.
Assessed'value for 1909, approximately $8,000,000.
.
BEdison, Calhoun County, Ga.—Bonds Voted.—An election
held Dec. 21 resulted in favor of a proposition to issue
$33,00015% light, water and school-building bonds. Maturity
partrinleach of the years 1920, 1930 and 1940. The vote
wasJ72 “for” to 4 “against.”
BP Edmond, Oklahoma County, Okla.—Bond Sale.—Issues
of $21,000 sewer, $9,000 water-extension and $5,000 city-hall
6%\bonds were awarded in November to A. J. McMahon of
Oklahoma City at 102.75.
m Denominations $1,000 and $500.
annual.
MaturityJDec. 1 .,1934.
Date Deo. 1 1909.
Interest semi¬
Greensburg, Decatur County, Ind.—Bond Sale.—An issue
$20,000 4% coupon refunding bonds was awarded on
Denomination $500.
turity 10
years.
Date Dec. 30 1909.
Greensburg at 100.24.
Interest semi-annual.
Ma¬
Greenwich, Huron County, Ohio.—Bond Sale.—The fol¬
lowing award was made on Dec. 29 1909 of the six issues of
5% improvement bonds described in V. 89, p. 1613:
$1,460 East Main St. (village portion) bonds awarded to the Citizens’ Sav¬
ings As Loan Co. of Mansfield for $1,510.
3,790 East Main St. (assessment) bonds awarded to the Citizens’
Savings.
& Loan Co. of Mansfield for $3,935.
4,730 West Main St. (assessment) bonds awarded to the Citizens’ Savings.
As Loan Co. of Mansfield for $4,910.
2,020 West Main Street (village portion) bonds awarded to the First
National Bank of Greenwich for $2,062 62.
6,060 Townsend Street (assessment) bonds awarded to the Citizens’ Sav¬
ings As Loan Co. of Mansfield for $6,300.
3,260 Townsend Street (village portion) bonds awarded to W. A.
Knapp
President of the Farmers’ Banking Co. of Greenwich for
$3,427 59
Maturity one-tenth of each Issue yearly on Nov. 1 from 1910 to 1910
Inclusive.
Groveport, Franklin County, Ohio.—Bond Sale.—Accord¬
ing to reports, $7,000 4% 10-year street bonds were sold on
Jan. 3 to Barto, Scott & Co. of Columbus at 103.60—a basis
of about 3.569%.
Groveton Independent School District (P. O.
Groveton),
Trinity County, Tex.—Bond Offering.—'This district is of¬
fering for sale the $25,000 5% 10-40-year (optional) bonds
registered (V. 89, p. 948) on Aug. 24 1909. Denomination
$500. Date July 1 1909. Interest annual.
Harrison County (P. O. Logan), la .—Bond
Election.—On
Jan. 10 a proposition to issue $100,000 bonds for the
erection
of a new court house will be put before the voters for
their
approval or disapproval.
Jan. a 1910.
THE CHRONICLE
125
Homingsford, Boxbutte County, Neb.—Bond Offering.— ance of the $30,000 water and street-paving bonds (V. 89, p.
endeavoring to dispose of at private sale the 1497), recently voted.
$10,000 6% bonds which were offered without success (V. 89,
Lakewood, Cuyahoga County, Ohio.—Bond Sale.—On
p. 1237) on Oct. 19 1909.
Jan. 3 the $3,614 and $8,380 Detroit St. 5% sewer con¬
Hereford Independent School District (P. O. Hereford), struction assessment bonds described in V. 90, p. 64,
Deaf Smith County, Tex.—Bonds Not Sold.—We are in¬ were awarded to Hayden, Miller & Co. of Cleveland at
formed under date of Dec. 21 1909 that no award has yet 104.602 and accrued interest. The bids were as follows:
Hayden. Miller &Co.,Clev-$12,546 00 Seasongood & Mayer, Cln.$12,458 00
been made of the $25,000 5% 20-40-year (optional) bonds Tlllotson
& Wolcott Co..
Security Savings Bank &
Trust Co., Toledo
Cleveland
12,531 35
12,451 50
registered on Oct. 7 (V. 89, p. 1296) by the State Comptroller. First
Nat. Bank, Cleveland 12,503 00 C. E. Denison & Co., Clev. 12,373 63
Hidalgo County Drainage District No. 1, Tex.—Bond Of¬ Otis & Hough, Cleveland. 12,491 00
Maturity one-tenth of each Issue yearly on Oct. 1 from 1911 to 1920 infering.—This district is now on the market with the $176,000 elusive.
5% 20-40-year (optional) bonds registered by the State
Lancaster, Fairfield County, Ohio.—Bond Offering.—
Comptroller (V. 89, p. 1237) on Oct. 19 1909.
Proposals will be received until 12 m. Feb. 2 by the City
Highland Park (P. O. Richmond), Va.—Bond Sale.—The Auditor for $2,714 47 5% coupon Mulberry St. (assessment)
$50,000 30-year water, light and sewer coupon bonds de¬ bonds.
Denomination $271 44, except one bond of $271 51.
Date Nov. 25 1909.
scribed in V. 89, p. 1686, were sold on Dec. 31 1909 to the
Interest semi-annual.
Maturity $271 51 on May 25 1910 and $271 44 each
Provident Savings Bank & Trust Co. of Cincinnati at 102.042 six months from Nov. 25
1910 to Nov. 25 1914 Inclusive.
Certified check
and accrued interest for 5^s. The following bids were for 2% of bonds bid for, payable to the City Treasurer, Is required. Pur¬
chaser to pay
interest.
of
This village is
—
accrued
received:
Prov. Sav. Bk. & Tr. Co., Cln$51,0211 A. J. Hood & Co., Detroit— .$50,055
John Nuveen & Co., Chicago. 50,755|S. A. Kean & Co., Chicago.. 48,250
Hillsdale Township (P. O.
—Bond Sale.—The $15,000
Hillsdale), Bergen County, N. J.
5% 10-24-year (serial) coupon
(with privilege of registration) street and road-improvement
bonds offered on Sept. 15 1909 (V. 89, p. 679) were disposed
of to the Hackensack Trust Co. of Hackenscak at 102—a
basis of about 4.885%.
Denomination $1,000.
Date March 1 1909.
Interest semi-annually at
the First National Bank of Westwood.
Bonds are free of all taxes.
Total
debt, not Including this Issue, $36,000.
Assessed valuation, $715,000.
Holbrook Irrigation District (P. O. La Junta), Otero
County, Colo.—Bond Sale.—The $650,000 6% irrigation
bonds which
(V. 89,
p.
were
1296)
offered but not sold
were
awarded
on
on
Nov.
3
1909
Dec. 15 1909 to Henry
Wilcox & Co. of Denver at par.
Denominations $100 and $500.
nual.
Maturity part yearly from
Date Dec. 1 1909.
11 to 20
Interest semi-an¬
years.
Holly Beach City, Cape May County, N. J.—Bond Offering.
—Proposals will be received until 8 p. m. Jan. 25 by Harry
S. Hewitt, Borough Clerk, for $73,000 5% refunding bonds.
Maturity 30 years. Certified check for $500 is required.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Hominy, Osage County, Okla.—Bond Sale.—Jay H. Mul¬
len of Bartlesville, offering par, was the successful bidder on
Dec. 14 1909 for the $25,500 water and the $10,500 sewer
6% coupon bonds described in V. 89, p. 1555. Maturity
part of each issue yearly on Jan. 1 from 1921 to 1935 in¬
clusive.
Hudson School District, Los Angeles County, Cal.—Bond
Offering.—Proposals will be received until 2 p. m. Jan. 10
by the Board of Supervisors for $4,000 4^6% bonds.
Interest annual.
inclusive.
Maturity part yearly
on
Jan. 10 from 1921 to 1924
Irwindale School District, Cal.—Bond
state that
Offering.—Reports
proposals will be received until Jan. 17 for $7,000
W. D. Nothacker Is Clerk
Council.
Lawrence, Mass.—[Temporary Loan.—This place has
awarded a temporary loan of $250,000 to F. S. Moseley &
Co. of Boston at 4.38% discount and $3 25 premium.
Loan matures Oct. 4 1910.
Leon
County Common [School District No. 40, Tex.—
Registered.—An issue of $3,000 5% 5-20-year (optional)
bonds was registered on Dec. 22 1909 by the State Comp¬
Bonds
troller.
Lexington School District No. 1 (P. O. Lexington), Daw¬
County, Neb.—Litigation.—The suit brought to prevent
the issuance of the $50,000 school bonds voted upon at an
election held Aug. 30 1909 has been carried to the State
Supreme Court. As stated in V. 89, p. 1440, the District
Court on Nov. 18 1909 dissolved an injunction which had
been previously granted enjoining the issuance of these bonds.
Liberty County Drainage District No. 1, Tex.—Bond Of¬
fering.—I. B.fSimmons, County Judge, is offering for sale
the $85,000 5% 21-year (average) bonds registered by the
State Comptroller (V. 89, p. 1497) on Nov. 25 1909.
Livermore, Alameda County, Cal.—Bonds Voted.—The
election held here recently resulted in favor of the proposition
to issue the $10,000 public park bonds mentioned in V. 89,
p. 1440.
Lockland, Hamilton County, Ohio.—Bond Sale.—The
$2,250 4^% McLaren Ave. (village's portion) bonds offered
on Dec. 13 and described in V. 89, p. 1369, were sold to
Seasongood & Mayer of Cincinnati for $2,322 30, the price
thus being 103.213.
Maturity Oct. 1 1919.
Logan County (P. O. Beliefontaine), Ohio.—Bond Sale.—
An issue of $15,000 4% 5 1-3-year (average) refunding bridge
son
bonds was sold on Dec. 27 1909 to the Beliefontaine National
Bank of BeUefontaine at 100.20.
Denomination $500.
Date Jan. 1 1910. Interest semi-annual.
Lone Tree School District (P. O. Delano), Kern County,
Cal.—Bond Sale.—James H. Adams & Co. of Los Angeles
were the successful bidders for the $3,000 6% 18-year school¬
building bonds offered (V. 89,
1440) Dec. 2 1909. The
brought 104.80.
(P. O. Jackson), Minn.—Bond Sale.—
Interest annually in June.
An issue of $75,000 5% Judicial Ditch No. 3 Construction'
Love County (P. O. Marietta), Okl.—Bond Sale.—During
bonds offered on Sept. 8 has been awarded to the Tbos. J.
1909 A. J. McMahon of Oklahoma City purchased
July
Bolger Co. of Chicago for $75,441 03—the price thus being
$55,000 court-house and $20,000 jail 5% bonds at 104.30.
100.588.
bonds.
bonds were awarded
Denomination $500.
Jackson County
Authority, Chapter 448, General Laws of 1907. Denomination $1,000.
Date Dec. 1 1909.
Interest semi-annual.
Maturity 5 to 15 years.
Jackson
County (P. O. Gainesboro), Tenn.—Bonds Voted.
—A recent election resulted in favor of a proposition to is¬
sue $150,000 4% coupon railroad-aid bonds.
Interest paya¬
ble in Gainesboro.
Maturity 20 years.
Jacksonville, Fla.—Bonds Proposed.—The Mayor informs
us that there is talk of issuing $1,000,000 paving, sewer and
park bonds. He adds, however, that up to Dec. 31 1909
nothing definite had yet been done and that the bonds will
not be for sale for some time.
Janesville, Wis.—Election
on
Commission Form of Govern¬
ment.—An election will be held Jan. 11 to determine whether
or not this city shall adopt the commission form of govern¬
ment.
Jefferson
—We
are
County (P. O. Madison), Ind.—Bonds Not Sold.
advised under date of Dec. 25 1909 that
no
dis¬
posal has yet been made of the $25,360 4^% coupon gravelroad (Graham Township) bonds offered on Sept. 30 1909
and described in V. 89, p. 796.
Johnstown, Cambria County, Pa.—Bonds Not Sold.—We
are informed that no bids were received for the $100,000 4%
coupon street bonds offered for sale on Dec. 31 1909.
See
V. 89, p. 1497, for description of these securities.
Jonesboro, No. Caro.—Bonds Authorized.—This town has
on
p.
Dec. 9 1909 and
Denominations $1,000 and 3500.
Date Oct. 1 1900. Interest semi¬
annual.
Maturity part yearly fromll to 202years, inclusive.
Malden,
Mass.—Temporary Loan.—A loan of $150,000
has been negotiated, it is stated, with F. S. Moseley & Co.
of Boston at 3.99% discount and $3.50 premium! Maturity
Oct. 18 1910.
Marianna,
Jackson County,
Fla.—Bonds
Voted.—The
election held Dec. 211909 resulted in favor of the
proposition
to issue the $10,000 5% 20-year water-works-extension and
town-improvement bonds mentioned in V. 89, p. 1614. The
vote was 60 “for" to 1 “against."
Marshall County (P. O. Guntersville), Ala.—Warrant Sale.
—An issue of $14,000 registered jail-building warrants has
been sold to John B. Weakley at par for 6s.
These warrants
were
offered without
success as
5s
on
Nov. 1 1909.
Maryland.—Bond Offering.—Proposals will be received
in. Feb. 1 by Murray Vandiver, State Treasurer at
Annapolis, for $1,000,000 33^% coupon road Series“C" bonds
until 12
Authority, Act of General Assembly of 1908, Chapter 141. Denomina¬
tion, $1,000. Date Feb. l 1910.
Interest semi-annual.
Maturity Feb. 1
1925, subject to call after Feb. 1 1920.
Bonds are exempt from all taxes.
Certified check for 10% of amount of bid Is required.
The
official notice of this bond offering will be found among
Department.
Massachusetts.—Temporary Loans Negotiated in 1909.—
Temporary loans aggregating $6,500,000 were negotiated^by
authorized the issuance of bonds. The amount of the issue the State of Massachusetts in 1909.
A large part'of these
is to be definitely decided upon at the next regular meeting were
the
“Chronicle"
at the different times the
reported
in
of the Board of County Commissioners.
loans were placed.
Joshua Independent School District (P. O. Joshua), John¬
Matagorda Independent School District (P. O. Matagorda),
son County, Tex.—Bond Sale.—We are advised that the $2,Matagorda
County, Tex.—Bond Sale.—The $1,500 5% 10r
400 5% 5-10-year (optional) bonds registered by the State
20-year (optional) school-house bonds registered by the State
Comptroller on Nov. 10 1909 (V. 89, P- 1368) have been sold.
Comptroller on Oct. 21 1909 (V. 89, p. 1296) were sold dur¬
Juniata, Blair County, Pa.—No action Yet Taken.—Up to ing October 1909 to Odd Fellows’ Lodge No. 47 of Matagorda
Jan. 5 no action had yet been taken looking towards the issu¬ at par.
Denomination $100. Interest Oct. 15.
the advertisements elsewhere in this
126
THE CHRONICLE
Medford, Jackson County, Ore.—Bond Sale.—An issue of
$15,000 6% lateral sewer and improvement bonds was
awarded on Dec. 14 1909 to James Campbell of Medford at
par.
Denomination $500.
Date Dec. 1 1909.
Interest semi-annual.
turity Dec. 11919, optional one-tenth each year.
Ma¬
Medway, Norfolk County, Mass.—Bonds Defeated.—An
election held here recently resulted in the defeat of a propo¬
sition to issue $60,000 water bonds. The vote was 126
“for” to 164 “against.”
Meridian, Lauderdale County, Miss.—Price Paid for
are advised that the $50,000 5%
30-year street¬
paving (city’s portion) bonds dated Dec. 1 1909, awarded
Bonds.—We
last
month
(V. 89,
to
the
Citizens’
National
Bank
of
Meridian
1687), were disposed of on a 4%% basis.
Middlesex County (P. O. New Brunswick), N. J.—Bond
Offering.—Proposals will be received until 10 a. m. Jan. 10
by H. Raymond Groves, County Collector, for $97,000 4%
registered road-improvement (Series 10) bonds.
p.
Date Jan. 1 1910.
Interest semi-annually at the County Collector’s
office In New York exchange. Maturity 5 bonds yearly on Jan. 1 from 1920
to 1938 Inclusive and 2 bonds Jan. 1 1939.
Certified check on a national
bank or trust company for 2% of bonds bid
for, payable to the County
Collector, Is required.
Bonds will be certified as to genuineness by the
U. S. Mortgage & Trust Co. of New York City.
The opinion of Caldwell &
Reed of New York as to the legality of the Issue will be delivered to the
pur¬
chaser.
Bids must be made upon blanks furnished by the County Collector.
Bonds will be delivered Jan. 21 unless a
subsequent date be mutually
agreed upon.
Accrued Interest to be paid by purchaser.
Milford,
town
Dickinson County, Iowa.—Bond Sate.—This
has disposed of $12,000 bonds to Geo. M. Bechtel &
Co. of
Davenport.
Mingus Independent School District (P. O. Mingus), Palo
Pinto County, Tex.—Bonds Not Sold.—We are informed that
no award has
yet been made of the $8,500 5% bonds offered
without
success on
Oct. 4 1909.
See V. 89, p. 1369.
Missouri Valley, Harrison
to the
on
[VOL.
Sinking Fund Commission at
par was
Jan. 5.
Authority, Act of April 20 1874 and its supplements. Denomination
Date Sept. 1 1909.
$1,000.
Interest semi-annually at the Treasurer’s
office In New Brighton.
Maturity $1,000 yearly on Sept. 1 from 1916 to
1935 Inclusive.
Bonds are exempt from taxes In Pennsylvania.
Official
circular states that the borough has never defaulted in payment of its debts,
and that there Is no controversy pending or threatened affecting the validity
of these bonds.
Harry Calhoon Is Solicitor of the Borough.
New Castle, Colo.—Bids Rejected—New Bonds Proposed.—
All bids received for $3,500 electric-light-plant bonds offered
on Nov. 30 1909 were rejected as “the
amount to be realized
from them would not be sufficient to install the plant re¬
quired.” Our informant further states that the town will
be in the market in a very short time with another issue of
bonds, smaller in amount than the original issue, the pro¬
ceeds of which will be used to erect a distributing system
for the handling of electricity, which will be purchased from
a local power company.
New Cordell (P. O. Cordell), Washita County, Okla.—Bond
Sale.—This city has sold $27,500 water-extension and $10,000
electric-light 6% bonds to A. J. McMahon of Oklahoma
City.
Denominations $1,000 and $500.
Date Aug. 1 1909.
Interest semi¬
Maturity Aug. 1 1934, subject to call after 10 years.
annual.
New York City.—Bond Sale.—In addition to the $12,500,000
sold
4% 50-year gold registered^or coupon corporate stock
by this city on Dec. 10 1909 (V. 89, p. 1555), the fol¬
lowing bonds were purchased during that month by the
Sinking Fund at par:
Purpose—
Various
municipal purposes
Library bonds
Rapid transit bonds
Rate of Int.
3
3
4
3
3
Maturity.
1958
1958
1958
1958
1930
Water bonds
General fund bonds
Denomination $1,000.
Date Nov. 1 1909.
Interest semi-annually at
the American Trust & Savings Bank in Chicago.
Maturity $2,000 Nov. 1
1914 and $8,000 Nov. 1 1919, subject to call,
however, at any Interest-pay¬
ing period after Nov. 1 1914.
The following revenue bonds (temporary
also issued during December 1909:
Jan. 1 1910.
Revenue
Revenue
Revenue
Revenue
Revenue
Revenue
Authority, Article 12, Section 2981-82-83, Revised Statutes. Date,
“day of sale.” Interest on July 1 at the Mohall Security Bank.
Maturity
Certified check for $500, payable to the “City of Mohall,” is
required.
No bonded debt.
Floating debt, $9,635 01. Assessed valua¬
Amount.
$13,000
3,000
20,000
100,000
1,750,000
Total
$1,886,000
bonds,
bonds,
bonds,
bonds,
bonds,
bonds,
securities)
current expenses.
current expenses^
current expenses.
Interest.
__4
—3
—3 %
special
special
special
...3H
-.3 H
were
Amount.
$381,500
9,284,000
4,550,000
95,000
370,000
30,000
4
Total
Interest semi-annual.
Mohall, Ward County, No. Dak.—Bond Offering.—Pro¬
posals will be received until 1 p. m. Jan. 10 by Tollef Syver¬
son, City Auditor, for the $10,000 5% registered warrant¬
refunding bonds voted Nov. 29 1909 (V. 89, p. 1497).
consummated
New Brighton, Beaver County, Pa.—Bond Offering.—
Proposals will be received until 7:30 p. m. Jan. 17 for $20,000
4^% bonds.
County, Iowa.—Bond; Sale.—
An issue of $10,000 4^% refunding water-works
bonds was
recently awarded to the American Trust & Savings Bank of
Chicago.
Moberly, Randolph County, Mo.—Bond Sale.—The $100,000 5% 10-20-year (optional) bonds were sold on Jan. 3 to
Woodin, McNear & Moore of Chicago at 104.075 and accrued
interest—a basis of about 4.49% to the optional date and
about 4.684% to full maturity.
Denomination $500. Date
LXXXX.
$14,710,500
Niagara Falls, N. Y.—Bond Offering.—Further details
are at hand relative to the offering of the $60,000 4% gold
registered public park and city hall bonds mentioned in
V. 89, p. 64.
Proposals will be received until 4 p. m. Jan. 20
by Thos. H. Hogan, City Clerk.
•
Authority, Chapter 300, Laws of 1904,
as
amended by Chapter 335, Laws
Jan. 1 1910.
interest semi¬
20 years.
of
tion 1909, $128,201.
annually to registered holders in New York exchange. Maturity Jan. 1
1930.
Bonds are exempt from all taxes.
Certified check for $3,000, paya
ble to the City Clerk, is required.
Purchaser to pay accrued Interest.
Montgomery, Ala.—Price Paid for Bonds.—N. W. Halsey
Chicago paid par and accrued interest for the $50,000
5% Lawrence Street paving bonds recently awarded them.
1906.
Denomination
$1,000.
Date
& Co. of
Noble Township, Noble County, Ohio.—Bond Sale.—The
Citizens’ National Bank of Caldwell purchased $2,800 4%
See V. 89, p. 1687.
1-7-year (serial) highway-improvement bonds on Dec. 31
1909 at par and accrued interest,
A bid of par was also
Montgomery County (P. O. Dayton), Ohio.—Bond Sale.—
On Dec. 24 1909 the $2,000 4^% 1-4-year
(serial) coupon
Rhoads Ditch bonds described in V. 89,
p. 1614, were
awarded to the Dayton Savings & Trust Co. at
par.
Bond Sale.—On Dec. 30 1909 the New First National
Bank of Columbus purchased the $3,500
4^% coupon
Bricker Ditch bonds described in V. 89, p. 1614, at 102.22.
A list of the bidders follows:
New First Nat. Bk., Colum.$3,577 70 Seasongood &
Mayer, Cine.$3,527 0i
City Nat. Bank, Dayton.. 3,542 25 Dayton Savings & Trust
Breed & Harrison, Cine
3,537 60
Co., Dayton
3,516 7<
Maturity part yearly on Jan. 1 from 1911 to 1916 Inclusive
Monguagon Township, Wayne County, Mich.—Bonds De-
eated.—The election held Dec. 28 1909 resulted in the defeat
of the
proposition to issue the $175,000 municipal-bridgeV. 89, p. 1687.
The vote was
building bonds mentioned in
298 “for” to 381 “against.”
Mount
Pleasant, Maury County, Tenn.—Bond Offering.—
Proposals will be received until 8 p. m. Feb. 1 for $55,000
6% water-works-improvement bonds. Maturity 30 years.
W. H. Long is Mayor and F. M. Ricketts is Recorder.
Mt. Sterling, Montgomery County, Ky.—Bond
Offering.—
Proposals will be received until Jan. 18 for the $50,000 5%
coupon sewer-system completion bends voted (V. 89, p.1687)
Nov. 2 1909.
on
Interest semi-annual.
Bonds are exempt from city tax.
There is r
bonded debt at present.
Assessed valuation 1909, $2,150,000.
Re
value (estimated), $3,500,000.
Bid to be made on blank form furnlsht
by R. G. Kern. W. A. Samuels Is Mayor.
Mount Vernon Independent School District (P. O. Mt.
Vernon), Franklin County, Tex.—Bond Scde.—The $8,250
bonds (the unsold portion of the issue of $15,000
5% 30-40year optional school bonds dated May 7 1909 and mentioned
m V. 89, p. 489) were sold on Oct. 12 1909 to the
Noel-Young
Bond & Stock Co. of St. Louis at par.
Nelsonville, Athens County, Ohio.—Bonds Defeated.—The
question of issuing $10,000 bonds for the purchase of the
old electric-light-plant met with defeat at an election held
Dec. 18 1909.
Newark, N. J.—Bond Sate.—It is reported that the sale of
4% school-site bonds mentioned in V. 90, p. 64,
the $169,700
received
from
terest annual.
John Emmons.
Date 1909.
Denomination $400.
North Adams, Mass.—Note Sates in 1909.—The
were sold by this city during the year 1909:
In¬
following
notes
$2,000 00 3 7A% bridge-repair notes dated Aug. 19 1909, sold to State
Treasurer.
Maturity $400 annually.
17,800 00 3^% Weber Ave. curbing, &c., notes dated June 15 1909, sold
to the Provident Institution For Savings of Boston.
Ma¬
turity $1,780 annually.
33,783 33 3 H% refunding bonds dated June 15 1909, sold to the Provident
Institution for Savings In Boston.
Maturity $5,000
annually and $3,783 33 June 15 1927.
North Attleboro, Mass.—Temporary Loan.—Reports state
that a loan of $20,000, due April 8 1910, has been negotiated
with Boston parties at 4.29% discount.
Nueces County (P. O. Corpus Christi), Tex.—Bond Offer¬
ing.—Proposals will be received for $10,000 5% 10-40-year
(optional) school-house bonds.
Denomination $100.
Date Aug.
Benton is County Superintendent of
10
1909.
Interest
Schools.
April 10.
Nat
Oakland School District (P. O. Oakland), Alameda
County, Cal.—Bond Election Proposed.—Local papers report
that an election will probably be called in the near future to
vote on the question of issuing approximately $1,500,000
school bonds.
Oakman, Walker County, Ala.—Bond Election.—An elec¬
on the question of
issuing $20,000 improvement bonds.
Oak Park School District No. 97 (P. O. Oak Park), Cook
County, HI.—Bond Offering.—Proposals will be received
until 7:30 p. m. Jan. 27 by W. H. Hatch, Secretary of the
Board of Education, for $60,000 4%% coupon bonds.
tion has been ordered for Feb. 1 to vote
Denomination $1,000.
Interest June and December at the Illinois Trust
& Savings Bank In Chicago.
Maturity part yearly on June 1 from 1918 to
1921 Inclusive.
Certified check for $1,000, payable to the Board of Edu¬
cation, Is required.
Okeene, Blaine County, Okla.—Bonds Not Sold.—Wejare
Dec. 27 1909 no award had been made
of the $30,000 6% 25-year water-works bonds
offeredjfon
Dec. 15 1909 and described in V. 89, p.$1370.
Orange County Common School District No. 14, Tex.—
Bonds Registered.—An issue of $7,000 5% 10-40-year (option-
advised that up to
Jam. 8 1910. |
t
al) bonds
was
1909.
THE CHRONICLE
■■■
—
■
.
—
registered by the State Comptroller
—
Dec. 27
on
Osnaburg, Stark County, Ohio.—Bonds Defeated.—An
election held Dec. 28 1909 resulted in the defeat of
a
pro¬
position to issue $6,500 light bonds.
Palestine, Anderson County, Tex.—Bond Offering.—Pro¬
posals will be received until 12 m. Jan. 24 by A. L. Bowers,
Mayor, for the $18,000 434% fire-station bonds mentioned
in V. 89, p. 1370.
Authority vote of 151 “for” to 74 “against” at election held Nov. 2 1909.
Date Jan. 3 1910.
Interest semi-annually in Austin, Palestine or at the
National Park Bank In New York City.
Maturity 40 years, subject to
call after 10 years.
Certified check (or cash) for 5500 Is required.
circular states that the city has never defaulted in the payment of
Official
principal
interest; also that there is no controversy or litigation pending or threat¬
ening as to the oorporate existence or the boundaries of the city, nor to the
title of its present officials to their respective offices, nor as to the validty
of any outstanding bonds.
or
Palisade
Irrigation District (P. O. Clifton), Mesa County,
Offering.—-Proposals will be received until
2 p. m. Jan. 24 for an issue of $88,000 irrigation bonds at not
exceeding 6% interest, voted on Dec. 16 1909.
Colo.—Bond
Authority, Act of General Assembly approved May 3 1905, and amend¬
Interest semi-annual.
Certified check for 2% of amount bid,
No bid for less than 95% of face value
of bonds will be received.
O. W. Jaynes is Secretary of the Board of Di¬
ments.
payable to the district, is required.
rectors.
Pensacola, Escambia County, Fla.—Bond Sale.—The
$100,000 434% gold coupon paving bonds described in V.
89, p. 1371, were sold on Nov. 24 1909 to Wm. W. Flournoy
of De Funiak Springs at 96.825.
The coupons prior to July 1
1909
detached.
The bonds
mature Jan. 1 1936.
were
Peru,
Nemaha
County,
are
dated Jan. 1 1906 and
Neb.—Bonds
Defeated.—An
election held Dec. 29 resulted in the defeat of a proposition
to issue $15,000 water bonds.
The vote was 58 “for” to
94
“against.”
Pike, Wyoming County, N. Y.—Bond Sale.—The $15,000
coupon water-system bonds described in V. 90, p. 64, were
sold on Dec. 31 1909 to Adams & Co. of New York City at
100.08 for 4 34s.
Maturity $1,000 yearly on July 1 from
1914 to 1928 inclusive.
advised that the Board of Public Works has awarded
building a dam for water-works, the cost to the
city to be about $32,000. If this contract is approved by
the Common Council it will be necessary to issue bonds
some time during the spring of 1910 to meet the cost of the
a
are
contract for
work.
Philadelphia,
Pa.—Loan
Authorized.—The
Mayor
on
Jan. 6 signed the bill previously passed by Councils providing
for a permanent loan of $8,000,000 for the following purposes:
Item—
Amount.
Item—
Amount.
Mandamuses
$1,000,000 Health and charities
$150,000
Elementary schools
1,750,000 Macadamizi ig roads
100,000
Parkway
1,000,000 Paving street Intersections
100,000
Port Improvements
600,000 New bridges
100,000
New equip., Fire Bureau.
100,000
ortheast high-pressure
Playgrounds
100,000
Are system
500,000 Soldiers’ and sailors’ mem¬
orial monument
Re-surfacing roads
300,000
100,000
Polioe and fire sta’n bldgs.
265,000 Restoring Congress HaU
and Improv’d light’g of
League Island Park
250,000
Main sewers
250,000
Independence Hall and
Branch sewers
200.000
Independence Square..
60,000
Repairs to non-traction
Cohockslnk sewer
50,000
streets
200,000
Total
Grading Streets
300,000
$8,000,000
....
Sueen Lane filtration plant 525,000
Poland, Mahoning County, Ohio.—Bond Sale.—The two
issues of 5% bonds described in Y. 89, p. 1441, were awarded
on
Dec. 20
as
follows:
$3,250 sidewalk-construction bonds to the New First National Bank of
Columbus at 101.507.
Maturity $650 yearly on Oct. 1 from 1911
to 1915 inclusive.
500
general street-improvement bonds to Arthur Llddle of Poland at
105.10.
Maturity $100 yearly on Oct. 1 from 1920 to 1924 inclusive.
The
following bids
were
also received:
$3,250
Side-walk
Bonds.
First National Bank, Cleveland
Ohio Savings Bank, Toledo.
Otis & Hough, Cleveland (for both issues)
C. R. Justice, Poland (for both Issues)
$500 Street
Improvement
Bonds.
$3,286 50
$529 30
3.255 00
500 05
3,788 00
Par
Portland, Ore.—Bond Sale.—The City Auditor informs us
improvement bonds recently sold was
$347,854 87 and not $347,500 as reported in Y. 89, p. 1615.
They were awarded as follows: $321,354 87 to W. F. White
at 104.10 and $26,500 at par to
Joseph Simon, Mayor,
$25,000 for the Water Bond Sinking Fund and $1,500 for the
Police and Fire Department Relief Fund.
Purchasers to
pay accrued interest.
The following bids were received:
that the amount of
W. F. White
Grand
Joseph Simon, Mayor ($26,500)
(for $10,000)
103
A. McMaster (for $3,000 bds.).103.50
G. F. S. Kemmerer ($1,000)..103.50
E. S. McCoy (for $1,000 bonds) 102
in addition to their bids.
104.10
Par
Secur. Sav. & Tr. Co., Portl’d.100.50
Lumberman’sNat.Bk. ($75,000) 103.60
D. S. Stearns (for $10,000bds.)103
All bidders offered accrued Interest
Lodge A. O. U. W.
Pottawatomie County (P. O. Westmoreland), Kans.—
Bonds Not Sold.—No award has yet
railroad-aid bonds voted (V. 89, p.
been made of the $40,000
1615) in Dec. 1909.
Pryor Creek, Mayes County, Okla.—Bonds to Be Offered
Shortly.—In reply to our inquiry as to whether any action
had yet been taken looking towards the issuance of the
$90,000 water and sewer-system bonds voted in Oct, 1909
(V. 89, p. 951), the City Clerk writes us that “the abstracts
of the election are in the hands of Chicago
bond attorneys
and as soon as they are passed upon will be on the market.”
■
-
127
-
■■
Purcell School District (Pr O.fPurcell),{McClain County,
Okla,—-Bond Sale.—An issue of $7,500 5% school bonds was
awarded
recently to A. J. McMahon of Oklahoma City.
Denomination $500.
turity Oct. 1 1934.
Date Oct. 1 1909.
Interest semi-annual.
Ma¬
Quincy, Mass.—Bond Sale.—According?to reports, $20,4% 1-10-year (serial) coupon school-house bonds were
disposed of on Jan. 6 to Wm. A. Read & Co. of Boston at
000
101.835—a basis of about 3.629%.
Denomination $1,000.
Date Dec. 1
the Eliot National Bank in Boston.
Racine,
Wis.—Bonds
1909.
Interest semi-annually at
Authorized.—This
city
has
au¬
thorized the issuance of $35,000 4 34% coupon refunding
bonds. Denomination $1,000. Date Feb. 1 1910. Inter¬
est
semi-annually at the City Treasurer’s office.
Ravenna School District No. 69 (P. O. Ravenna), Buffalo
and Sherman Counties, Neb.—Bond Election.—An election
will be held Jan. 20 to vote on the question of issuing $27,000
school-building bonds.
the
which
This election will take the place of
to have been
held Nov. 16 1909 to vote
the $30,000 bonds mentioned in V. 89, p, 1298.
It was
discovered that the district could not legally bond itself for
the larger amount.
The debt limit is 10% of the assessed
one
was
on
valuation, which in this case is $279,570, making the borrow¬
ing capacity $27,957.
■
gg
|||Rhome School District (P. O.JRhome), Wise County, Tex.
—Bonds Voted.—An election held Dec. 23 1909 resulted in
favor of a proposition to issue $7,500 school-building bonds.
Rising Sun, Woods County, Ohio.—Bond Offering.—
Proposals will be received until 12 m. Jan. 24 by J. J. Linehan,
Village Clerk, for the $3,000 6% electric-light-works bond
voted recently.
See V. 89, p. 1371.
Authority Section 2835, Revised Statutes.
Denomination $600.
Date
from 1911 to
Village Treas¬
Jan. 3 1910.
Interest annual.
Maturity $600 on Sept. 1
1915 inclusive.
Certifled check for 2% of bid, payable to the
urer, is required.
Purchaser to pay accrued interest.
Rochester, Beaver County, Pa .—Bond Offering.—Pro¬
posals will be received until 7:30 p. m. Jan. 17 by the TownCouncil, James W. Doncaster, Secretary, for $20,000 434%
bonds.
Denomination $1,000.
Date Jan. 1 1910.
Interest semi-annual.
Ma¬
on Jan. 1 as follows:
$1,000 in each of the years 1932 and 1933,
$2,000 in 1934, 1935 and 1936 and $4,000 yearly from 1937 to 1939 in¬
clusive, all being subject to call, however, any time after Jan. 1 1932.
Bonds are free of State tax.
Certifled check for $100 is required.
turity
Plattsburgh, Clinton County, N. Y.—Bonds Proposed.—
We
-
The
official notice of this bond offering will be found among
Department.
Rosebud Independent School District (P. O. Rosebud),
Dallas County,Tex.—Bond Offering.—The Secretary writes
us under date of Dec. 31 1909 that the $35,000 5% 20-40-year
(optional) school-building bonds dated July 1 1909 and de¬
scribed in V. 89, p. 553, are now being re-offered for sale.
Denomination $500.
Interest semi-annually in New York,.
Chicago, Austin or Rosebud.
Runnels County (P. O. Ballinger), Tex.—Bonds Defeated.—
the advertisements elsewhere in this
An election held Dec. 18 1909 resulted in the defeat of
a
proposition to issue $100,000 Precinct No. 1 bonds.
Rutherford, N. J.—Bond Offering.—Reports state that
proposals will be received until 8 p. in. Jan. 17 for $86,300;
434% bonds dated Feb. 1 1910 and due Feb. 1 1950.
Salem, Mass.—Bond Sale.—An issue of $35,000 4% sewer
,
bonds was awarded on Jan. 5 to E. M. Farnsworth & Co. of
Boston at 103.07 and accrued interest.
Denominations $500 and $1,000.
Date Deo. 1 1909.
on Dec. 1 from 1910 to 1923 inclusive.
Maturity $2,500'
yearly
E.
The following proposals were received:
M. Farnsworth
Boston
&
Wm. A. Read As Co., Boston. 102.317
R. L. Day & Co., Boston—102.299
Naumkeag Trust Co., Salem.102.79 E. H. Rollins & Sons, Boston 102.27
Crocker & Fisher, Boston
102.577 Adams & Co., Boston
102.19
Estabrook & Co., Boston
102.47
Blodget, Merritt & Co., Bos¬
Blake Bros, & Co., Boston._102.34
102.187
ton
Co.,
103.07
Salida School District No. 7 (P. O. Salida), Chaffee County,.
Colo.—Bond Sale.—The $34,000 5% 10-20-year (optional)
coupon
on
high-school-building bonds offered without success
(V. 89, p. 1441) were sold on Dec. 28 1909^to
Nov. 19 1909
the Woodmen of the World at 103.
Sandstone Independent School District No. 6 (P.
O. Sand¬
stone) , Pine County, Minn.—Bond Election.—The questionjof
issuing $26,000 4% school-building bonds will be submitted
to a vote of the people on Jan. 10.
Denomination $2,000.
Maturity $2,000 yearly on July 1 from 1916lto1928 inclusive.
These securities, if voted, will take the place of the $26,000
4H% bonds, bids for which were rejected (V. 89, p. 1557) on Dec. 1 1909.
They are being re-voted upon as 4s, we are advised, with the understanding
that the State of Minnesota will purchase them if authorized.
San Jacinto High School District (P. O. San Jacinto),
Riverside County, Cal.—Bond Election.—According to re¬
ports, an election has been called to vote on the issuance of
$25,000 high-school-building bonds.
San Mateo Union High School District, San Mateo County,
Cal.—Bond Offering.—Proposals will be received until 110“
a. m. Jan. 17
by the Board of County Supervisors (P.fO.
Redwood City), for the $100,000 434% high-school-building
bonds voted on Nov. 26 1909. See V. 89, p. 1557.
4
Authority Section 1745, Political Code. Denomination $1,000. Date
3 1910.
Interest semi-annually at the County Treasurer’s office.
Maturity $3,000 yearly on Jan. 3 from 1911 to 1930 inclusive and $2,000
yearly on Jan. 3 from 1931 to 1950 inclusive. Certifled check for $2,000.
payable to the Chairman of the Board, is required. J. H. Nash is County
Jan.
San Mateo Homestead Sanitary District (P. O. San Mateo) ^
San Mateo County, Cal.—Bonds Not Sold.—We are 'advised
that no award has yet been made ofjthe $15,000 5% gold
bonds offered on Sept. 20 1909. See^V. 89,{p.{681.
128
THE CHRONICLE
San Saba Independent School District ((P. O. San Saba),
San Saba County, Tex.—Bond Offering.—Proposals will be
received by John Seiders, Secretary of the School Board for
$40,000 5% high-school-building bonds.
Authority Sections 154 et seq.. Chapter 124, Laws of 1005,
as
amended
In 1007; also a vote of 147 “for" to 5 "against" at election held June 7 1000.
Denomination $1,000.
Date Aug. 10 1000.
Interest on April 1 at the
State Treasurer’s office in Austin, at the First National Bank, or at Ward,
Murray & Co.’s Bank in San Saba. Maturity $1,000 yearly on April 1
trom 1010 to 1039 inclusive, subject to call after 5 years.
Certified check
for $500, payable to O. D. Kirkpatrick, President of the School Board,
4s required.
No litigation pending or threatened.
Bonded debt, this is¬
sue,
$40,000.
Assessed valuation 1909, $1,574,599.
These bonds were
offered but not sold on Oct. 12.
Savannah, Ga.—Bond Election Proposed.—We
are
in¬
formed that the Mayor and Board of Aldermen are making
an effort to have the
proposition to issue $350,000 4% housedrainage bonds re-submitted to a vote of the people. As
reported in V. 89,
p.
63, these bonds
the election held June 29 1909.
were
voted down at
Seattle, Wash.—Bond Offering.—Proposals will be re¬
ceived until 12 m. Jan. 29 by H. W.Carroll,City Comptroller
and ex-officio City Clerk, for $500,000 general
park and
$200,000 municipal light extension coupon bonds at not
exceeding 4^% interest.
Denomination $1,000.
Date, day of issue.
Interest semi-annually at
the State fiscal agency in New York City.
Maturity 20 years. Bids for
both issues must be accompanied by certified checks on a bank in Seattle,
payable to the City Comptroller, for $12,500, with bids for the park bonds
and $7,500 for the light-extension bonds.
The
official notices of this bond offering will be found among
the advertisements elsewhere in this Department.
Shady side Special School District (P. O. Shadyside),
Belmont County, Ohio.—Bond Offering.—Proposals will be
received until 12 m. Jan. 10 by A. J. Harbaugh, Clerk,
Board of Education, for $10,000 5% coupon funding bonds.
Authority Section 2834a, Revised Statutes. Denomination $1,000.
Date Jan. 15 1910.
Interest semi-annually at the Dollar Savings Bank in
Bellaire.
Maturity $5,000 on Jan. 15 In 1912 and in 1913. Bonds are
exempt from all taxes.
Certified check for 5% of bonds bid for, payable
to the Board of Education, J. O. McKelvey, Treasurer, is required.
Shawnee, Okla.—No Bonds Sold.—The City Clerk inorms us that the reports
stating that $100,000 bonds had
been sold
are erroneous.
'
[Vol.
lxxxx.
£$200,000 with Morgan & Bartlett$at|2.94% discount.
200,000 with Wm. A. Read & Go. at 2.95% discount.
100,000 with Morgan & Bartlett at 3%% discount.
50,000 with the Union Trust Co. of Springfield at 3 H% discount.
x Previously reported; reprinted above In order that the list may be
complete.
Story Oounty (P. O. Nevada), Iowa.—Bonds Defeated.—
A proposition to issue $30,000 bonds for the erection of a
new set of buildings upon the county farm was defeated by
the voters on Dec. 21 1909, according to local papers.
Struthers, Mahoning Oounty, Ohio.—Bond Offering.—
Proposals will be received until 12 m. Jan. 12 by L. S.
Creed, Village Clerk, for $3,000 5% coupon sewer-construc¬
tion bonds.
Denomination $1,000.
Date Jan. 1 1910. Interest semi-annually at
the Struthers Savings & Banking Co.
Maturity $1,000 yearly on Jan. 1
from 1922 to 1924 inclusive.
Certified check for $200, payable to the
Village Treasurer, Is required. Purchaser to pay accrued Interest. Offi¬
cial advertisement states that "no bid will be received on consideration
wherein the bidder stipulates for the village to furnish an abstract of the
proceedings of Council In regard to said bond issue.”
cluding this issue, $38,000.
Bonded debt, In¬
Sumner, Tallahatchie Oounty, Miss.—Bond Sale.—W. T.
Young has purchased at par the $6,000 6% coupon Cassidy
Bayou Bridge bonds offered on Nov. 1 1909 and described
in V. 89, p. 1179.
Maturity Oct. 1 1929, subject to call
after Oct. 1
1919.
Superior, Wis.—Bond Offering.—Proposals will be re¬
ceived until 2 p. m. Jan. 15 by John Erichson, City Comp¬
troller, for $100,000 4)/£% gold coupon high-school-building
bonds.
Authority, Section 93, City Charter; also Sections 926-11, 942 and 943,
General Statutes.
Denominations, 50 bonds of $1,000 each and 100 bonds
of $500 each.
Date Jan. 3 1910.
Interest semi-annually at the City Treas¬
urer’s office.
Maturity Jan. 3 1930. Certified check for 1% of bonds bid
for is required.
The bonds will be delivered within 10 days from the time
of award.
Syracuse, N. Y.—Bond Sale.—The $100,000 4% registered
water bonds described in V. 89, p. 1689, were awarded on
Dec. 31 1909 to N. W. Harris Co. of New York City at
101.435 and accrued interest—a basis of about 3.922%.
The
following bids
also received:
were
Jas. A. Hutchinson, Boston$100,880 A. B. Leach & Co., N. Y__$100,573
W. N. Coler & Co., N. Y__. 100,356 C. E. Denison & Co., Cleve. 100,571
Blodget, Merritt & Co., Bos. 100,687 Moffat & White, N. Y
Kountze Bros., N. Y
100,680 Estabrook & Co., N. Y
w
100,415
100,270
All the above bidders offered accrued Interest in addition to their bids.
Maturity $25,000 yearly on July 1 from 1941 to 1944 Inclusive.
Shelby, Richland County, Ohio.—Bond Sale.—On Dec. 30
Tacoma, Pierce Oounty, Wash.—Bids.—The following
an issue of $4,000
4% street-improvement bonds was
awarded to I. S. Light at par and accrued interest. There bids were received for the $100,000 4}^% coupon light and
bonds sold on Dec. 2 1909 (V..89, p. 1689) to Weil,
were no other bidders.
Date Sept. 1 1909.
Interest semi¬ power
Roth & Co. of Cincinnati at 102.155 and accrued interest:
annual.
Maturity 1 to 10 years.
Weil, Roth & Co., Cin
$102,155 00 Farson, Son & Co., Chlc.$101,625 50
Shelby School District No. 32 (P. O. Shelby), Polk County, Seasongood & Mayer,Cin. 102,060 00 E.H.Rollins & Son.Denv. 101,580 00
Harris Trust & Savings
Neb.—Bonds Not to be Offered at Present.—We are advised Woodin, McNear&Moore,
Bank, Chicago
Chicago
102,060 00
100,783 00
that the $4,000 43^% additional-school bonds voted Nov. 6 N.W.Halsey
& Co.,Chic_ 101,780 00
1909.
Bonds
are
dated
Jan.
1
1909 (V. 89, p. 1371) will not be offered for sale for some
time; probably not until spring.
Taunton, Mass.—Bond Sales and\T emporary Loans Jin
Shelbyville, Shelby County, Ind.—Bond Sale.—The $15,- 1909.—During the year 1909 this city sold $160,000 long¬
500 4% gold coupon park bonds described in V. 89, p. 875, term bonds and negotiated $279,000 temporary loans in
were awarded on Oct. 5 1909 to
Miller, Adams & Co. of anticipation of taxes. The bonds sold are described as
Indianapolis. Maturity part yearly from 1911 to 1921 in¬ follows:
Rate of
Price
clusive.
The bonds were delivered Nov. 18 1909, the pur¬ Amount.
Purpose. Interest.
Date.
Maturity.
Purchaser.
Paid.
chaser paying $15,626 55, being par ($15,500), premium $50,000 Highway
4%
Dec. 1 1908 Dec. 1 19181C. E. Deni-F106.131
20,000 Sewer
3H% Dec. 1 1908 Dec. 1 1938/
son & Co.1103.87
1909
$87 50, accrued interest $74 05, less cost of bonds—$35.
10,000 School
4%
Dec. 1 1908 Dec. 1 1928 Estab’k&Co.llO.Sl
*7,000 Water
3H% Jan. 1 1909 Jan. 1 19391
Sherman, Grayson County, Tex.—Bonds Voted.—Accord¬
6,000 School
4%
Dec. 1 1908 Dec. 1 1928 Merrill, Olding to reports, the propositions to issue the $12,000 water
25,000 Highway
3K% Junell909 Junell919
ham & Co. 104.899
and $8,000 street-improvement bonds, mentioned in V.‘
30,000 Police-station4%
June 1 1909 June 1 1929
89,
12,000 Bridge
June 1 1909 June 11919.
_4%
p. 1442, carried at the election held Dec. 20 1909. The vote
is reported as
Reported as $70,000 In "Chronicle” of July 17 1909.
being 154 “for” to 28 “against” the former
issue and 137 “for” to 42 “against” the latter issue.
Terrace Park, Hamilton Oounty, Ohio.—Bond Sale.—The
Shreveport, Caddo Parish, La.—Bonds to be Offered Shortly. $7,500 4^% coupon water-pipe (village's portion) bonds
—The City Comptroller writes us under date of Jan. 1 that described in V. 89, p. 875, were awarded on Oct. 9 1909 to the>
Milford National Bank of Milford for $176 25 premium and
the $167,000 funding and the $250,000 paving and
sewerage
4% 10-40-year (optional) bonds voted on Nov. 23 1909 $25 30 accrued interest. Maturity $750 yearly from 1912
(V. 89, p. 1442) have been ordered printed and that as soon to 1921 inclusive.
as they are finished they will be
Texas County School District No. 8, Okla.—Bond Sale.—
placed on the market.
Sommerville County Common School District, Tex.— During the month of December 1909 the Oklahoma Bond
Bond Sale.—The $550 5% 20-year bonds registered
by the & Trust Co. of Guthrie purchased $8,000 6% refunding bonds
State Comptroller on Sept. 17 1909 (V. 89, p. 798), have been at 101.50. The securities are dated Nov. 1 1909 and mature
July 1 1929.
purchased bv the Permanent School Funds.
Southold School District No. 16, Suffolk County, N. 7.—
Toledo, Ohio.—Bonds Purchased by Sinking Fund During
Bond Sale.—We have just been informed that on
Ending Dec. 31 1909.—The Trustees of the Sinking
Quarter
Sept. 7
1909 $25,000 4% brick-school-house bonds were
bought by Fund, during the months of October, November and Decem¬
the Southold Savings Bank of Southold at
ber, purchased the following bonds at par and accrued inter¬
par.
*
Denomination $1,000.
Date Oct. 1 1909.
Interest Jan. 1 and July 1.
L. F.
Maturity $1,000 yearly on Jan. 1 from 1912 to 1936, inclusive.
Terry (P. O. Greenport) is Clerk of the Board of Education.
South
Omaha, Neb.—Bond Sale.—Spitzer & Co. of Toledo
on Jan. 3 for the $25,000
4%
5-^20-year (optional) coupon general-fire-department bonds
dated Jan. 1 1910 and the 5 issues of 5% 5-10-year
(optional)
coupon paving and grading bonds, aggregating $101,000,
dated Dec. 1 1909.
See V. 90, p. 65, for a description of
were
the successful bidders
these bonds.
est
:
NSmprinl
A
$3,097 84 Euclid Ave. No. 2 re-paving bonds dated Sept. 15 1909.
Ma¬
turity part each six months from March 1910 to Sept. 1914 In¬
clusive.
^
5,910 17 Harrison St. No. 1 paving bonds dated Oct. 16 1909.
Maturity
part each six months from March 1910 to Sept. 1914 inclusive.
1,431 20 Huron St. No. 8 re-paving bonds dated Nov. 3 1909.
Maturity
part each six months from March 1910 to Sept. 1914 Inclusive.
No.
1,192 77 Orange St.
5 paving bonds dated Oct. 21 1909.
Maturity
part each six months from March 1910 to Sept. 1914 Inclusive.
10,946 60 Robinwood Ave. No. 7 paving bonds dated Oct. 15 1909.
Ma¬
turity part each six months from March 1910 to Sept. 1914 in¬
clusive.
Sparta, Tenn.—Bonds Voted.—According to reports, a
proposition to issue $30,000 bonds to aid in the construction
of the Tennessee Alabama & Kentucky Ry. was unanimously
adopted by 216 voters at an election held Dec. 31 1909.
Spokane, Wash.—Bond Offering.—Reports state that at a
meeting of the Funding Committee held Dec. 22 1909 it was
decided to advertise for proposals for $400,000 43^% waterdepartment bonds due in twenty years.
Springfield, Mass.—Temporary Loans in 1909.—During the
calendar year ending Dec. 31 1909 this city negotiated $550,000 temporary loans as follows:
3,981 74 Georgia Ave. No. 1 paving bonds dated Nov. 29 1909.
Maturity
Kart
eachSt.sixNo.
months
from bonds
March dated
1911 toNov.
Sept.1 1915
H
iarlon
1 paving
1909.inclusive.
Maturity
part each six months from March 1911 to Sept. 1915 inclusive.
2,296 03 western Ave. No. 5 paving bonds dated Nov. 1 1909.
Maturity
March
to Sept.Maturity
1915 Inclusive.
Sart each
1081
months
bondsfrom
No.six
dated
Nov.1911
28 1909.
part each
ewer
six months from March 1911 to March 1913 inclusive.
5,566 29 Sewer No. 1060 bonds dated Oct. 23 1909.
Maturity part each
six months from March 1911 to Sept. 1915 inclusive.
The above issues all carry
5%
interest.
Bonds.
General
jjgg
$30,000 4% Park Boulevard bonds dated Dec. 1 1909 and due Dec. 1 1929.
Owing to the fact that
a
large amount of general bonds
adopted
become due within the next five years, the Board has
Jah.
81910.|
THE CHRONICLE
the policy of buying in such bonds with the surplus
in the
General Sinking Fund.
Pursuant to said policy,
during the
quarter ended Dec. 31 1909 the sinking fund purchased
$2,000 4^% general fund refunding bonds dated July 1
1892 and due July 1 1912.
The purchase price was par,
$23 00 premium and $39 50 interest.
Trafford City, Westmoreland County, Pa.—Bond Sale.—
It is reported that an issue of $10,000 5% school bonds has
been awarded to J. S. & W. S. Kuhn, Inc. of
Pittsburgh.
Bonds are dated Jan. 1. 19i0.
Trenton, Gibson County, Tenn.—Bond Sale.—Local papers
an issue of $20,000 sewer bonds has been
sold.
Turon School District (P. O. Turon), Reno County, Kan.—
state that
Bonds Voted.—An election held Dec. 29 1909 resulted in favor
of a proposition to issue $12,000
school-building bonds. Ma¬
turity 5 to 15 years.
Uvalde County Common School District No. 9, Tex.—
Bonds Registered.—An issue of $1,000 5%
20-year bonds was
registered on Dec. 22 1909 by the State Comptroller.
Wabaunsee County (P. O. Alma), Kan.—Bond
Offering.—
Proposals will be received until 12 m. Jan. 13 by C. C.
Stotler, County Clerk, for $80,000 43£% railroad refunding
bonds.
Denomination $1,000.
Date July 1
the State Treasurer’s office in Topeka.
to 1926 inclusive.
Bonds are exempt
check for 1% of bid is required.
Total
tion, $23,163,436.
1910.
Interest semi-annually at
Maturity $5,000 yearly from 1911
from taxes in Kansas.
Certified
debt, this issue.
Assessed valua¬
Waco, McLennon County, Tex.—Bond Election.—An
elec¬
tion will be held Jan. 21, it is reported, to vote
upon propo¬
sitions to issue $140,000 high-school and $35,000
30-year bonds.
Wakonda, Clay County,
park 4%
So.
Dak.—Bonds Voted.—An
a
vote of 51 “for” to 7
“against” the question of issuing $7,500 water-works bonds
at not exceeding 5% interest.
The bonds, we are informed,
will be offeredjabout the middle of
January or first of February.
Waller County (P. O. Hempstead), Tex.—Bonds Not to
Be Offered at Present.—The County Treasurer informs us
under date of Dec. 27 1909 that the $25,000 road bonds voted
Nov. 2 1909 (V. 89, p. 1372) are being
prepared by the
printer. Our informant further states that he is unable to
say when they will be offered for sale
on
Walter, Comanche County, Okla.—Bond Offering.—Pro¬
posals will be received until 8 p. m. Jan. 15 by M. C. Smith,
City Clerk, for $57,000 water-works, $26,000 sewer and $7,000
electric-light-plant coupon bonds. Bids are requested for
bonds bearing 5%, 5J^% or 6% interest.
Authority Section 27, Article 10, State Constitution. Denomination
Date Jan. 15 1910.
Interest semi-annually at the City Treas¬
Maturity Jan. 15 1930. Certified check for $1,000, payable
Clerk, is required.
Bonded debt, $2,600.
Floating debt,
$2,000.
Assessed
$1,000.
urer’s offic3.
to the City
valuation 1909, $800,000.
Waltham, Mass.—Bids.—The following bids were received
on Dec. 24 1909 for the
$20,000 4% 1-10-year (serial) municiof Boston
bonds awarded
on thatbasis
day toof Blodget,
Merritt(V.&
gal-loan
101.789—a
about 3.64%
o.
at
,
'
Blodget, Merritt &Co., Bost.101.7891 R. L. Day & Co., Boston
101.567
101.65 |Crocker & Fisher, Boston... 101.391
Adams & Co., Boston.
Denomination $1,000.
$11,500 00 20-year refunding bonds dated Jan. l 1910.
Denomination
$500.
3,000 00 20-year paving (city’s portion* bonds dated Aug. 1 1909. De¬
nomination $500.
1,500 00 20-year paving (city’s portion) bonds dated Dec. 1 1908.
De¬
nomination $500.
350 00 20-year paving (city’s portion) bond dated Dec. 1 1908.
1,200 00 20-year sanitary-sewer bonds dated Aug. 1 1909.
Denomina¬
tion $600.
1,100 00 20-year sanitary-sewer bonds dated May 1 1909.
Denomination
$550.
3,881 20 1-10-year (serial) street-paving bonds dated Dec. 1 1909.
De¬
nomination $388 12.
2,729 20 1-10-year (serial) street-paving bonds dated Dec. 1 1909.
De¬
nomination $272 92.
Interest is payable at the City Treasurer’s office.
Certified check for
$200, payable to the Sinking Fund Trustees, is required.
Official circular
states that the legality of these issues has not been ouestloned- also that
there is no litigation pending or threatened affecting the same.
It further
states that the principal and Interest of previous issues have been
promptly
These are not new securities, but bonds held by the Sinking Fund
paid.
Trustees as an investment.
White County (P. O. Monticello), Ind.—Bonds Not Sold.—
We are advised that no award was made on Dec. 24 1909
of the $6,050 5% ditch-construction bonds offered on that
day.
See V. 89,
p.
1617.
Wichita
Falls, Wichita County, Tex.—Bonds Not Sold.—
Up to Dec. 24 1909 the $17,500 4J^% street-improvement
bonds described in V. 89, p. 1372, had not yet been dis¬
posed of.
Wichita County (P. O. Wichita Falls), Tex.—Bond Offer¬
ing.—Proposals will be received for the $20,000 43^% 5-40year (optional) jail bonds mentioned in V. 89, p. 1559.
Date
Oct. 10
1909.
Interest
annual.
M.
F.
County Judge.
Yeager is
Willow
Springs, Howell County, Mo.—Bond Offering.—
Wilkinson, City Attorney is offering at private sale,
$2,000 5% coupon city-hall and jail bonds.
N. B.
election held Dec. 21 1909 resulted in
89, p. 1689):
129
Date Jan. 1 1910.
Interest semi-annual.
Temporary Loan.—According to dispatches,
a
loan of
$50,000 due April 8 1910 has been negotiated with Estabrook & Co. of Boston at 3.96% discount.
Warren, Trumbull County, Ohio.—Bond Election.—An
election will be held Jan. 15 to vote upon a
proposition to
issue $250,000 bonds for the construction of a water-works
plant.
Washington, Pa.—Bonds Authorized.—At a meeting of the
Borough Council held Dec. 20 1909, an ordinance was passed,
which had previously been approved
by the Finance Com¬
mittee, providing for the issuance of $10,000 5% Dunn
Avenue crossing improvement (borough’s
portion) bonds.
Denomination $1,000.
Interest semi-annual.
Maturity $1,000 yearly
on Jan. 1 from 1914 to 1923 inclusive,
subject to call, however, at any
interest-paying period. The bonds are exempt from State tax.
Watertown, Middlesex County, Mass.—Bond Sale.—The
$2,000 school and $4,000 refunding 4% coupon notes de¬
scribed in V. 89, p. 1617, were awarded Dec. 28 to R. L.
Day & Co. of Boston at 102.10 and accrued interest. The
following bids were also received:
Blodget, Merritt & Co., Bos. 102.0671 Crocker
&
Fisher, Boston
Adams & Co., Boston
101.68 |
The school notes are payable Sept. 1 1914 and the
1917.
101.03
refunding notes Nov.
1
Authority Article 13, Laws of 1899.
Denomination $500.
Date Nov. 1
Interest semi-annual.
Maturity 20 years, subject to call after 10
Bonded debt, including this issue, $6,500.
Floating debt, $1,500.
Assessed valuation, $248,000.
1909.
years.
Windham, Windham County, Conn.—Bids Rejected.—We
are
informed that all bids received
Dec. 31 1909 for the
on
$100,000 4% coupon high-school bonds described in V. 89, p.
1690, were rejected.
Woodward County School District No. 55, Okla.—Bond
Sale.—An issue of $1,000 6% building bonds due Jan. 1 1930
sold last month to the Oklahoma Bond & Trust Co. of
Guthrie at 101.
was
Wooster, Wayne County, Ohio.—Bond Sale.—The $7,000
4% (city’s portion) and $2,100 43^% (assessment) sewerconstruction bonds described in V. 89, p. 800, were awarded
on Sept. 27 1909 to the Citizens’ National Bank of Wooster
for $9,125 (100.274) and accrued interest.
Worcester, Mass.—Temporary Loans Negotiated in 1909.—
The following is a complete list of the
temporary loans ne¬
gotiated by this city during the year 1909. A majority of
the loans have been reported in these columns from time ta
time, and are reprinted below in order that we may have a
complete record.
Amount.
Maturity.
With whom negotiated—
Disc’t. Prem.
$150,000-.0ct. 15 1909 _Biake Bros. & Co., Boston
3.01%
$125
100,000. _Oct. 13 1909..Merchants’Nat. Bank, Worc’ter__2.90%
None
100,000--0ct. 15 1909.-Loring, Tolman & Tupper, Bost..2.79%
None
150,000__0ct. 12 1909..Curtis & Sanger, Boston
2.83%
None
100,000._Oct. 15 1909-.Klssel, Klnnicut & Co., Boston
3.27%
$0 50
200,000.-Oct. 14 1909.-George Mixter, Boston
3.19%
None
Temporary Loan.—A temporary loan of $150,000, matur¬
ing Oct. 12 1910, was recently awarded, according to re-^
ports, to Bond & Goodwin of Boston at 4.11% discount and
$1 premium.
Youngstown, Ohio.—Bond Sale.—The following bids were
received on Jan. 3 for the six issues of 5% bonds,
described
in V. 89, p. 1559:
Breed & Harrison, Cincinnati
$14,000
$2,480
$480
bonds.
bonds.
bonds.
a$14.985
Seasongood & Mayer, Cincinnati
14.953
Barto, Scott & Co., Columbus
14,840
First National Bank, Cleveland
14,920
Field, Longstreth & Co., Cincinnati
14,966
Tillotson & Walcott Co.
14,963
Firemen's Pension Fund, Youngstown.- 14,925
Hayden, Miller & Co., Cleveland
14,918
C. E. Denison & Co., Cleveland
14,911
Well, Roth & Co., Cincinnati
14,893
Otis & Hough, Cleveland
14,878
Citizens’ National Bank, Wooster
14.768
M. D. Kleinzahler & Co., Youngstown._ 14,700
Breed & Harrison, Cincinnati
50
40
o$2,561 50
00
00
00
20
00
00
50
20
00
2,547 00
2,550 40
2,545 00
2,549 00
485 00
60
10
2,546 84
Vsi'ii
a$491 60
$1,875
$5,780
$650
bonds.
bonds.
bonds.
Seasongood & Mayer, Cincinnati
Barto, Scott & Co., Columbus
al,926 00
First National Bank, Cleveland
1,925 40
Firemen’s Pension Fund, Youngstown.
Hayden, Miller & Co., Cleveland...
1.922 00
Otis & Hough, Cleveland
Citizens’ National Bank, Wooster
1,913 50
M. D. Kleinzahler & Co., Youngstown..
M. E. Dennison, Youngstown
$5,955 00
a6,002 85
5,950 25
657 00
a675 75
Wathena, Doniphan County, Kans.—Bond Sale.—This
660 00
5,941 00
city has disposed of the $7,000 5% coupon electric-light
5,945 00
bonds described in V. 89, p. 1372, at 101.50.
666 77
5,935 79
Maturity 1929,
5,889 82
subject to call at any interest-paying period.
5,970 00
Wayzata School District (P. O. Wayzata), Hennepin
a Successful bidders.
County, Minn.—Bonds Voted.—A proposition to issue $25,All bids include accrued interest to date of
000 4% school-house bonds carried
delivery. The
by a vote of 53 to 9 at $14,000 bonds mature part
an election held Dec. 21 1909.
yearly from 1911 to 1924 in¬
We are advised that they will
clusive while the remaining issues mature part
be issued to the State of Minnesota.
yearly from
1911 to 1915 inclusive.
Webster City School District (P. O.
Webster City), Ham¬
Zanesville, Muskingum
ilton County, la.—Bond Election.—This
Ohio.—Bond Offering.—
district, according Proposals will be receivedCounty,
until 12 m. Feb. 5 by L. R.
to Iowa papers, proposes
holding an election to vote on the McCaddon, City
Auditor, for the $15,000 4% street-paying
question of issuing $25,000 school-building bonds.
(city’s portion) bonds mentioned in V. 89, p. 1690.
Wellsville, Columbiana County, Ohio.—Bond Offering.—
Authority Section 53, Municipal Code.
Denomination $1,000.
Date
Proposals will be received until 12 m. Jan. 10 by J. F. Jan. 1 1910. Interest semi-annual. Maturity
Jan. 1 1920.
Certified
check for 5% of bonds bid for, payable to the
McQueen, City Auditor, for the following 5% bonds:
City Treasurer, is required
Purchaser to pay accrued Interest.
_
\a
Halbrite, Sask.—Debenture Sale.—Brent, Noxon & Co. of
were the successful bidders on Dec. 17 1909 for the
$3,000 5% permanent-improvement debentures mentioned
in V. 89. p. 1373.
They paid 97.10. Maturity part yearly
for 15 years.
Date Dec. 1 1909. Interest annual.
Canada* its Provinces and Municipalities.
Aylmer, Que.—Debenture Sale.—An issue of $1,000 5%
Toronto
water-works debentures was awarded in December to Geo.
A. Stimson & Co. of Toronto.
Maturity 1947.
Oampbelltown School District No. 2297, Sask.—Debenture
Sale.—During the month of October 1909 Nay & James of
Hudson Township, Ont.—Debenture Sale.—An issue of
$1,500 5% debentures has been sold. The Ontario Securities
Co. of Toronto was the successful bidder.
Maturity part
yearly for 20 years.
Regina purchased $1,200 534% 10-year school debentures
Date Jan. 10 1910. Interest annual.
Canton, Alberta.—Debenture Sale.—H. O'Hara & Co. of
Toronto were successful in bidding for $1,200 5)4% 10-year
at par.
•
Keephills School District, Alberta.—Debenture Sale.—
of to
534%
school debentures.
Debentures amounting to $800 have been disposed
H. O’Hara & Co. of Toronto.
The debentures carry
interest and mature in 10 years.
Camduff, Sask.—Debenture Sale.—Nay & James of Re¬
gina purchased $14,500 5% 20-year lighting-plant debentures
during December 1909.
Glearview, N. B.—Debenture Sale.—During December
1909 J. G. Mackintosh of Winnipeg purchased $2,000 534%
school debentures dated Jan. 1 1910.
Maturity part yearly
Loudoun School District, Man.—Debenture Sale.—An is¬
of $2,000 534% school debentures was disposed of dur¬
sue
ing December 1909 ta J. G. Mackintosh of Winnipeg. The
debentures are dated Jan. 1 1910 and mature part yearly
lor 20 years.
for 20 years.
Saskatchewan, Alberta.—Debenture Sale.—Nay &
James of Regina purchased on Dec. 27 1909 the $6,000 6%
Fort
Melville, Sask.—Debenture Sale.—We are advised that the
$6,000 improvement debentures mentioned in V. 89, p.
1300, were awarded to J. Addison Reid & Co., Ltd., of
electric-light debentures described in V. 89, p. 1560,
at|104.35 and accrued interest. Maturity part yearly on Oct. 15
coupon
Regina, for $6,050, the price thus being 100.833.
Milk River Valley School District, Alberta.—Debenture
Sale.—School debentures amountin g to $1,500 were recently
sold to H. O’Hara & Co. of Toronto
The debentures carry
534% interest and mature in ten years.
Montmartre, Sask.—Debenture Sale.—G.A.Stimson & Co.
of Toronto were the successful bidders for $3,000 634%
debentures due part yearly for 15 years.
Date Dec. 1 1909.
New Westminster, B. C.—Debenture Sale.—-The six issues
of 5% 50-year coupon debentures, aggregating $398,000,
were bought last month by Geo. A. Stimson & Co. of Toronto.
It was previously reported that only part of the debentures
had been sold.
See V. 89, p. 1691.
North Vancouver, B. 0.—Debenture Sale.—Geo. A. Stim¬
son & Co. of Toronto purchased during December $128,000
5% 40-year ferry-system-improvement debentures.
from 1910 to 1929 inclusive.
Georgetown, Ont.—Debenture Sale.—Brent, Noxon & Co.
of Toronto recently purchased $3,150 5%
debentures due part yearly for 20 years.
local-improvement
.
Granum School District No. 1289 (P. O. Granum), Alta.—
Debenture Sale.—The $13,000 534% debentures described in
V. 89, p. 1500, were awarded on Dec. 20 to the Canada Life
Assurance Co. at 103.769 and accrued interest. The bids
"were as follows:
$13,490 00 Nay & James, Regina
$13,207
Wood, Gundy & Co., Tor_ 13,335 00 Brent, Noxon & Co., Tor. 13,161
O.H.Burgess & Co., Tor.. 13,333 00 W.A.MacKenzle&Co.,Tor. 13,125
Mbs.’ Life Assurance Co._ 13,250 00 Aemlllus Jarvis & Co.,Tor. 13,113
Western School Supply Co. 13,248 50 J.G.Mackintosh,Winnipeg. 13,050
Dominion Sec.Corp.,Tor__ 13.235 00 G.A.Stimson & Co., Tor.. 12,600
Maturity part yearly for 20 years,
00
Canada Life Assur. Co
00
00
00
00
00
Guelph, Ont.—Debenture Sale.—This place has awarded
$21,378 7 1 434% 10 and 20-year local-improvement deben¬
tures to Brouse, Mitchell & Co. ofjToronto.
$
NEW LOANS*
NEW LOANS.
NEW LOANS.
1,000,000
8200,000
8500.000
STATE OF MARYLAND The City of
TREASURY DEPARTMENT.
Seattle, Wash.
General Municipal
Annapolis, January 3rd, 1910.
The
City of Seattle, Wash.
General Park Bonds.
Light Extension
Bonds
Sealed proposals will be received by the under¬
signed until twelve (12) o’clock noon on Saturday.
proposals will be received by the under¬ January 29, 1910, for the purchase of $500,000
signed until twelve (12) o’clock noon on Saturday, General Park Bonds of the City of Seattle, being
The undersigned, Governor, Comptroller and January 29, 1910, for the purchase of $200,000 the remainder of the $1,000,000 voted at the
special
Treasurer of the State of Maryland, in pursuance General Municipal Light Extension Bonds, being election held In the City of Seattle on the 29tn day
of an Act of the General Assembly of Maryland of a portion of the $800,000 voted at the special of December, 1908, under and by virtue of Ordi¬
1908, Chapter 141, will receive proposals for election held In the City of Seattle on the 29th day nance No. 19606.
of December, 1908, under and by virtue of Ordi¬
$1,000,000 Series “C” of the said Loan.
Said bonds to be issued In denominations of
“The State Roads Loan” will be dated Febru¬ nance No. 19605.
$1,000 each and to bear date as of the date of their
Said
to
be
Issued
In
denominations
of
bonds
ary 1, 1910, bear Interest from said date at the
actual Issuance to the successful bidder.
rate of Three and One Half Per Centum
per $1,000 each and to bear date as of the date of their
Said bonds shall be payable twenty (20) years
annum, payable semi-annually on the first day of actual Issue to the successful bidder.
from the date of their Issuance, and shall bear
Said bonds shall be payable twenty (20) years interest at a rate not to exceed four and one-half
August and February In each and every year,
ana the
principal will be redeemable at the from the date of their Issuance, and shall bear (4 H) per cent per annum, interest payable semi¬
pleasure of the State after the first day of Febru¬ interest at a rate not to exceed four and one- annually, and Interest coupons for the payment of
ary In the year 1920, and the whole debt will be half (4H) per cent per annum. Interest payable such interest semi-annually will be attached to
payable on the first day of February, 1925. semi-annually, and Interest coupons for tne pay¬ said bonds. Both principal and interest payable
The debt Is exempted from State, county and ment of such interest semi-annually will be attached at the fiscal agency of the State of Washington in
Both principal and Interest pay¬ New York City.
municipal taxation and will be issued in bond to said bonds.
able at the fiscal agency of the State of Washington
form, with coupons attached.
Bidders may bid for said bonds by offers of
Said proposals must be delivered, sealed, to In New York City.
premium on said bonds at the stated maximum
Bidders may bid for said bonds by offers of rate, or by
the Treasurer of the State, at Annapolis, ON OR
offers to take said bonds at a rate lower
BJBFORE 12 O’CLOCK NOON OF THE FIRST premium on said bonds at the stated maximum than the stated maximum rate, or by offers of
DAY OF FEBRUARY, 1910, and must have rate, or by offers to take said bonds at a rate lower
premium on said bonds at a rate lower than the
endorsed on the back of the envelope “Proposals than the stated maximum rate, or by offers of stated maximum rate. B ids must be accompanied
for the State Roads Loan.”
Each bid must be premium on said bonds at a rate lower than the
by a certified check on some solvent bank In the
accompanied with a certified check on some stated maximum rate.
City of Seattle, payable to the undersigned, for
Bids must be accompanied by a certified check $12,500, which will be returned If the bid Is not
responsible banking Institution for 10 per cent
of the amount of such bid, and the same will be on some solvent bank In the City of Seattle, pay¬ accepted.
If accepted, the amount of the check
opened In the office of the State Treasurer, In able to the undersigned, for $7,500, which will be will De applied upon the purchase price of the
the City of Annapolis, at 12 o’clock noon, Febru¬ returned If the bid Is not accepted.
If accepted, bonds, or If bid be not compiled with check shal
the amount of the check will be applied upon the be forfeited to the City of Seattle.
ary 1st, 1910, in the presence of the undersigned.
On the opening of such proposals so many of purchase price of the bonds, or If Did be not com¬
All bids will be opened and considered by the
said coupon bonds as have been bid for, not plied with the check shall be forfeited to the City corporate authorities in the office of the City Comp¬
THE STATE ROADS LOAN.
•
[VOL. LXXXX.
THE CHRONICLE
130
-exceeding, however, the amount for which pro¬
posals are Invited, may be awarded by said Gov¬
ernor, Comptroller of the Treasury and Treasurer,
or a majority of them, to the highest responsible
bidder or bidders for cash; and when two or more
bidders have made the same bid, which.bids are
the highest, and If the amounts so bid for by the
highest responsible bidders are In excess of the
whole amount of the said bonds so offered for
sale, then such bonds may be awarded to such
highest responsible bidders bidding the same price
In the proportion which the amount each has bid
for bears to the whole amount of said bonds so
offered for sale.
These bonds will be Issued In the denomination
of $1,000 and subject to registration as to principal
.and no bid for less than par will be accepted.
The right Is reserved to reject any and all bids.
AUSTIN L. CROTHERS,
Governor.
J. W. HERING,
twM
■
Sealed
of Seattle.
All bids will be
opened and considered by the
corporate authorities In the office of the City
Comptroller on Saturday, January 29, 1910, at
twelve (12) o’clock noon.
The right Is reserved to reject any or all bids.
Further particulars will be given by the under¬
signed
upon
application.
Dated Seattle, Washington, December 23,1909.
H. W. CARROLL,
City Comptroller and ex-officio City Clerk.
December 25, 1909.
Date of first publication
troller on Saturday, January 29, 1910, at twelve
(12) o’clock noon.
The right Is reserved to reject
any or all bids.
^4
Further particulars will be given by the under¬
signed upon application.
Dated Seattle, Washington, December23.1909.
H. W. CARROLL,
City Comptroller and ex-officio City Clerk.
Date of first publication December 25. 1909.
MUNICIPAL AND RAILROAD
•
Comptroller of the Treasury.
MURRAY VANDIVER,
Treasurer.
■STABLI8BSD 1885
H. C.
Speer & Sons Co.
First Nat. Bank
Bldg., Chleaft
•CITY, COUNTY
AND SCHOOL
BONDS
BONDS
FORREST & CO.
LIST ON APPLICATION
BANKERS
Municipal and Seasoned
Corporation Bonds
SEASON GOOD &
FREE OF TAX
ill CHESTNUT ST..
John
MATER,
ltfmntil. Library Boilding
OXNOIKliATI
PHILADELPHIA. PA
H. Watkins
McCOY & COMPANY
Formerly MaoDonald, MeOoy * Oe.
MUNICIPAL
AND
RAILROAD BONDS
No. 2 WALL ST BENT, NEW YOBK
181
Municipal and
Corporation Bonds
La Salle Street* - Chicago
Jan. 8 1910. J
Okotoks, Alberta.—Debenture Sale.—G. A. Stimson & Co.
were recently awarded $1,800 6% debentures
■due part yearly for 10 years.
Ottawa, Ont.—Debentures Voted.—The proposition to
issue the $45,000 4% garbage-disposal debentures mentioned
in V. 89, p. 1618, carried by a vote of 3,044 to 1,698 at the
of Toronto
election held Jan.
131
THE CHRONICLE
3.
Details of debentures and date of
offering not yet determined.
Paragon School District, Sask.—Debenture Sale.—An issue
of $1,500 534% 10-year school debentures was recently dis¬
posed of to H. O’Hara & Co. of Toronto.
Parry Sound, Ont.—Debentures Voted.—Propositions to
issue $10,000 debentures as a bonus to the Parry Sound
Lumber Co. and $30,000 debentures as a bonus to a foundry
company were favorably voted upon Jan. 3.
Mention of
the former issue was made in V. 89, p. 1560. The deben¬
tures carry 5% interest and mature in twenty years.
We
are informed that they will not be issued until the industries
are established, which will probably be in fifteen or eighteen
months.
Debentures
Defeated.—At the same election (Jan. 3) the
proposition to issue the $25,000 new
town-hall debentures mentioned in V. 89, p. 1560.
Pipestone, Man.—Debenture Sale.—The $25,000 4% 20year telephone debentures described in V. 89, p. 1501, were
awarded on Dec. 20 to the Dominion Securities Corporation
of Toronto at 96.552 and accrued interest.
The following
voters defeated the
bids
were received:
Dominion Sec. Corp.,Tor_$24,138
W.A.MacKenzie & Co.,Tor 24,012
Tor. Gen. Tr. Coro-. Tor._ 23,907
G. A. Stimson & Co., Tor, 23,765
Aemllius Jarvis & Co.,Tor. 23,709
■C. H. Burgess & Co., Tor. 23,567
00 Ontario Sec. Co., Toronto.$23,557 00
00 J.Addlson Reld&Co.,Reg_ 23,525 00
50 R.C.Matthews & Co., Tor. 23,437 50
00 Brent, Noxon & Co., Tor. 23,379 00
00 Alio way & Champion, Win¬
00
nipeg
*96.18
debentures will be submitted at the
the issuance of these
next session of the Legislature for approval.
Vote on Road and Bridge Debentures.—According
to the
Secretary-Treasurer, the vote on the by-law providing for
the issuance of the $6,000 5% 7-year road and bridge deben¬
tures (V. 89, p. 1560), “resulted in a rather uncertain de¬
cision.”
The vote was 57 “for” to 39 “against,” the number
necessary to carry being 57.6.
Semans, Sask.—Debenture Sale.—James G. Mackintosh
of Winnipeg bought $2,000 6% rink debentures during the
month of December.
The securities are dated Jan. 1 1910
and mature part yearly for twenty years.
Semans School District No. 2428 (P. O. Semans), Sask.—
Debenture Sale.—An issue of $2,800 534% school-building
debentures has been bought by the Bank of British North
America for $2,817—the price thus being 100.607.
Ma¬
turity 10 years.
Swift Current, Sask.—Debenture Sale.—The $10,000 6%
10-year debentures mentioned in V. 89, p. 1105, have been
purchased by Alloway & Champion of Winnipeg at 104.5675.
Vancouver, B. 0.—Debentures Not to Be Offered at Present.
—The City Comptroller writes us, under date of Dec. 20
1909, that the $675,000 bridge and the $400,000 water-works
4% 40-year debentures, voted Oct. 23 1909 (V. 89, p. 1242),
“will not be offered for sale for some months.”
Debenture Election.—An election will be held Jan. 13, it is
stated, to vote upon propositions to issue the following 4%
40-year debentures: $50,000 for a fire-hall, $413,000 for
.
purchase of certain lands, $85,000 for exhibition grounds
and buildings and $350,000 for roads.
Viscount, Sask.—Debenture Sale.—The $1,000 6% side¬
walk and local-improvement debentures mentioned in V. 89,
For $100.
A bid was also received from Nay & James of Regina but was not opened
p. 1242, have been purchased by G. A. Stimson & Co. of
Russia School District, Alberta.—Debenture Sale.— Toronto:
Maturity part yearly for ten years.
H. O’Hara & Co. of Toronto were recently awarded $1,000
Winnipeg School District No. 1, Man.—Debenture Offering.
6% 10-year debentures.
Proposals will be received until 12 m. Jan. 18 by It. H.
St, Vital, Man.—Funding Debentures Voted.—The pro¬ Smith, Secretary-Treasurer Public School Board, for $200,000
position to issue the $14,000 5% 20-year funding debentures 4% school bonds.
mentioned in V. 89, p. 1560, carried by a vote of 64 to 35
Interest semi-annually In London, Eng., New York, N. Y., Toronto,
at the election held Dec. 21 1909.
The by-law providing for Montreal, or In Winnipeg. Maturity Aug. 1 1943.
the
•
-
S I
873,000
$20,000
BOROUGH OF ROCHESTER, Borough of Holly Beach City,
65,000
Bayou Terre-aux-Boeuf$
Drainage District
9% BONDS
Parish of St. Bernard, January 1st,
The Board of Commissioners of the
Terre-aux-Boeufs Drainage District will
bids for the purchase of Its bond issue
ana
Hundred
Sixty-Five Thousand
1910.
Bayou
receive
of One
Dollars
($165,000) on or before TUESDAY, FEBRUARY
8TH, 1910, at 12 o’clock noon.
These bonds are in denominations of
One
Thousand Dollars ($1,000) each, bear Five Per
Cent (5%) interest, interest payable annually,
and made payable Forty (40) years after their
date, with the option of redemption in numerical
order after Ten (10) years.
These bonds are issued in conformity with
Article 281 of the Constitution of Louisiana, and
must be sold for not less than par.
Each bid is to be accompanied by a certified
check for Twenty-Five Hundred Dollars ($2,500),
payable to the order of the said Board of Com¬
missioners; the check of the successful bidder will
be retained and credited on the purchase price
of the bonds; the checks of the unsuccessful bidders
will be returned to them.
The Board of Commissioners of the Bayou
Terre-aux-Boeufs Drainage District reserves the
right to reject any and all bids.
For further information, apply to B. F. Estoplnal, Secretary, St. Bernard, La., or to H. L.
Favrot,
Orleans
Attorney,
608
Hennen
NEW LOANS.
NEW LOANS.
NEW LOANS.
Bldg.,
New
Beaver Co.f Pa.
Gape May County, N. J.
434% BONDS
REFUNDING BONDS.
The Town Council of the Borough of Rochester,
Beaver County, Pennsylvania, will receive bids
to 7:30 P. M., MONDAY, JANUARY 17,
1910, for the purchase of $20,000 of the bonds
of said Borough, bearing interest at 4H%. free
Said bonds are in denomination
from State tax.
of $1,000, dated January 1, 1910, interest payable
semi-annually, falling due as follows:
One bond on January 1, 1932
One bond on January 1, 1933
Two bonds on January 1, 1934
Two bonds on January 1, 1935
Two bonds on January 1, 1936
Four bonds on January 1, 1937
Four .bonds on January 1, 1938
Four bonds on January 1, 1939 <■
with the option to said Borough of redeeming
same at par and accrued Interest at any time
after January 1, 1932.
A certified check for $100 must accompany
up
all bids.
Further information may be promptly
from the undersigned.
JAMES W. DONCASTER,
Borough Council
City, Cape May
County, N. J., will receive sealed bids for the
sale of Seventy-Three Thousand Dollars ($73,000)
5%, Thirty (30) year refunding bonds, according
Notice is hereby given that the
of the Borough of Holly Beach
to Ordinance No. 80.
Each bid to be marked proposal for
of Bonds and to be addressed to Harry S.
the sale
Hewitt,
Borough Clerk, and to be accompanied by a
certified check for the sum of Five Hundred
Dollars ($500.)
Bids will be opened Tuesday, January
at
25,1910,
eight o’clock P. M., In the Borough Hall.
Council reserves the right to reject one or all
bids which is to the best interest of the said
Borough of Holly Beach City, N. J.
HARRY
S.
HEWITT,
Borough Clerk.
obtained
Secretary of Town Council.
Rochester, Pa., January 5th, 1910.
CANADIAN
MUNICIPAL BONDS
MINT, StlTRNSTUL ( CS„
Birtsw Row York Sleek Exchange
Investment Securities
SO STATE STREET
BOSTON
W. A. MACKENZIE & CO.,
PERRY, COFFIN i BORN
Inestmeit Roods
60 State Street, Boston
TORONTO. CANADA
F. WM. KRAFT
BLACKSTAFF & CO.
LAWYER
INVESTMENTS
Specializing in Examination of
1332 Walnut Street
Municipal and Corporation Bonds
PHILADELPHIA
1S1S FIRST NATIONAL BANK BLDQ.J
USTOF SPEOUTIES ON REQUEST
OHIO AGO, n.1.
Charles M. Smith & Co
WB OWN AND OFFER
Blodget, Merritt & Co.
CORPORATION AND
BANKERS
MUNICIPAL BONDS
50 STATE STREET, ROSTOV
rURST NATIONAL BANK BUILDUM
OHIO,OO
30 PINE
STREET, NEW YORK
STATS, CITY A RAILROAD BONDS
MUNICIPAL BONDS
Tax
Exempt Anywhere 1$ the United Steles
Write tor Paifeelan
ULEN, 8UTHERLIN & GO.
•17 Flrtt Nat. Bank Bldg, CHICA60,1U.
132
THE CHRONICLE
'gugtiutx*.
[VOL.
LXXXX
ffinatjxiai.
H. M. By llesby & Co.
Incorporated
OFFICE OF THE
ATLANTIC MUTUAL INSURANCE COMPANY.
New York, January 21st, 1909.
ENGINEERS
DESIGN, CONSTRUCT AND OPER¬
ATE RAILWAY. LIGHT, POWER,
HYDRAULIC AND GAS PLANTS.
The Trustees, in conformity with the Charter of the Company, submit the following statement of its affair*
on the 31sf of December, 1908.
Premiums
Premiums
on
on
Marine Risks from 1st January, 1908, to 31st December, 1908—
Policies not marked ofl 1st January, 1908......—
S3,307,807 24
743,389 01
—...
Total Marine Premiums
34,051,198 25■
EXAMINATIONS and REPORTS
218 La Salle
Oklahoma
Interest received during the year
Rent less Taxes and Expenses
Street, CHICAGO
City, Oklahoma,
San
Premiums marked ofl from 1st January, 1908, to 31st December, 1908
Mobile,
3307,823 39
142,032 22
....
and
previous years
Transportation, (Sty of New York.
Advisory Engineers
Railroad and Municipal Problems
Investigations and
Reports
165 BROADWAY
NEW YORK
J. G. WHITE & CO.,
Engineers, Contractors,
Exchange Place. NEW YORK
43-49
Chicago, Ills
Financial Institutions and Investors.
Boctrlc
Railways, Electric Light and Power
Plants, Irrigation Systems Financed,
Designed and Built.
London Correspondents:
J. ©. WHITE & CO., Limited,
9
a—ass
3449,855 61
5279,988 33
199,555 37
479,543 70
31,215,933 98
Returns of Premiums
551,930 45
Expenses, Including officers’ salaries and clerks’ compensation, stationery,
newspapers, advertisements, etc
ASSETS,
United States & State of New York
Stock, City, Bank and other Se¬
curities
Special deposits In Banks ATrustCos.
Real Estate cor. Wall & WllliamSts.,
& Exchange Place-34,299,426 04
35.442,792 00
800,000 00
Other Real Estate &
claims due the com¬
pany
75,000 00
4.374,426 04
Premium notes and Bills Receivable
Cash In the hands of European
1,377,905 06
Bankers to pay losses under poli¬
cies payable in foreign countries.
Cash in Bank
3344,266 85
LIABILITIES.
Estimated Losses and Losses Un¬
settled
52,310,433 00
Premiums on Unterminated Risks.
717,712 70
Certificates of Prollts and Interest
Unpaid
260,822 35
Return Premiums Unpaid
121.473 65
Certificates of Profits Ordered Re¬
deemed, Withheld for Unpaid
Premiums
22.339 35
Certificates of Profits Outstand¬
ing
7,363,410 00
Real Estate Reserve Fund
270,000 00
399,031 95
429,950 18
512,824,105 23
Aggregating
Aggregating
311,066,191 05
A dividend of Interest of Six per cent on the outstanding certificates of profits will be paid to the
holders thereof, or their legal representatives, on and after Tuesday the second of February next.
The outstanding certificates of the issue of 1903 will be redeemed and paid to the holders thereof,
or their legal representatives, on and after Tuesday the second of February next, from which date all
Interest thereon will cease.
The certificates to be produced at the time of payment and canceled.
A dividend of Forty per cent Is declared on the net earned premiums or the Company for the yea*
ending 31st December, 1908, for which, upon application, certificates will be issued on and aftei
Tuesday the fourth of May next.
San Francisco, Cal.
Investigations and Reports on Electric
Railway, Gas, Electric. Light and Power
Properties Irrigation Systems, Ac., for
-
3420,655 46
1,274,822 22 51,695,477 68
Less Salvages
Re-Insurances
WM. J. YVELGUS,
M. Am. Soc. C. E. Formerly
Chief Engr., Chm., Elec. Traction
Com., and Vice-Pres. N/Y. C. &
H. R. RR. and Leased Lines.
COLIN M. INGERSOLL.
M. Am. Soc. C. E.
Formerly
Chief Engineer N. Y. N. H. & H.
RR.
Consulting Engineer on
■
Losses paid during the year which were estimated In 1907
Losses occurred, estimated and paid In 1908
Diego, CaL
.:—■■■■
33,333,483 55
....
By order of the Board,
Q. STANTON FLOYD-JONES. Secretary.
TRUSTEES.
HERBERT L. GRIGGS,
CLEMENT A. GRISCOM.
ANSON W. HARD.
LEWIS CASS LED YARD,
FRANCIS H. LEGGETT,
CHARLES D. LEVERICH,
LEANDER N. LOVELL,
GEORGE H. MAOY,
CHARLES H. MARSHALL,
W. H. H. MOORE,
-
GUSTAV AMSINCK.
FRANCIS M. BACON.
JOHN N. BEACH,
WILLIAM B. BOULTON.
VERNON H. BROWN,
WALDRON P. BROWN.
JOHN CLAFLIN,
GEORGE O. CLARK.
CLEVELAND H. DODGE,
CORNELIUS ELDERT,
RICHARD H. EWART
Cloak Lane, Cannon St., E. C.
NICHOLAS F. PALMER,
HENRY PARISH.
DALLAS B. PRATT,
GEORGE W. QUINTARD.
A. A. RAVEN,
JOHN L. BIKER,
DOUGLAS ROBINSON,
GUSTAV H. SCHWAB,
WILLIAM SLOANE,
ISAAC STERN,
WILLIAM A. STREET,
A. A. RAVEN. President.
CORNELIUS ELDERT, Vice-President.
SANFORD E. COBB, 2d Vice-President.
CHARLES E. FAY, 3d Vice-President.
JOHN H. JONES STEWART. 4th Vice-PreUdsn
Edmond C. Tan Dlsst
Robert McF. Dobl
Thomas L. Wilkinson
Associated
Engineers Co.
Consulting and Supervising Engineers
417
Century Building
17 th <fc Stoat St a.,
DENVER. COLO.
Established 1889.
A. L.
L. F. DOMMERICH & CO.
NEW YORK
REGISTER & CO.,
Successors to
Pepper Sc Register,
General Offices, 67 Greene Street
INSINEERS & GENERAL CONTRACTORS.
lit North Broad Street.
Philadelphia.
fJMttittfl Httgitujevs.
SOLICIT ACCOUNTS TO FINANCE
DISCOUNT AND GUARANTEE SALES
H. M.
CHANCE,
CARRY NO GOODS FOR OWN ACCOUNT
Consulting M • n ing Engineer and Geologist
COAL AND MINERAL PROPERTIES
Examined, Develeped, Managed.
•ST Drexel Bldg.,
PHILADELPHIA, PA.
Dfljetxfoawts fjaiiotial gawk
IPtumjcial.
of ©imeinuaii
u,3oo'ooo.oo
NATIONAL LIGHT,
HEAT & POWER CO
GUARANTEED
BOND8
All Issued
A. H. Bickmore &
Street,
BOARD OP DIRECTORS
M. E. INGALLS, Chairman Board of Directors FRANK L.
PFAFF, Buhr, Pfaff A Go., Wholtaal
O. O. O. A St. L. Ry. Oo.
Confectioners.
LEVI A AULT, Preot- The Ault A Wlborg Oo.
E. B. STANLEY, Am. Laundry Machinery lift. Oa
OLIVER M. BAKE. Vloe-Preat. Miami Valley National E. R. STEARNS, Trees. Stearns A
Poster
Bank, Hamilton, Ohio.
PETER Q. THOMSON, Preot.
ooatad
GEORGE R. BALCH, Vloa-Preat. The Cincinnati
Oo., Hamilton, Ohio.
Realty Co.
HENRY C. YEI8BR, Preot. Globe Wernicke Oa
J, R. CLARK. Preot. Union Central LUO I no. Oo.
HENRY O. YERGASON, Vion-Preoideat.
EDWIN O. GOSHORN. Mgr. National Lead Oo.
SAMUEL POGUE. Preot. H. A B. Peons Oo.
W. B. MELIBH, Preot. The Biomwoll Brush A Wire MORRIS L.
8TERNBERGER. Preot. ~
Goods Oo.
Bank, Jackson, Ohio
HENRY NEWBURGH. Traao. The Lou* Newburgh W. W.
ed
Co.,
BANKERS
H Pine
^KooT
MELVILLE B. 1NQALLS, President
EDWIN O. GOSHORN. Ylee-PrMident.
HENRY C. YERGASON, Vkse-Praoldoat.
WILLIAM W. BROWN. Vlos-Prenldent.
WILLIAM P. STAMM. Cashier.
GEO. R BALCH, Vloe-Pnoideat.
CHAB. A. STEVENS, Amt. Caahler.
Oo.. Hamilton. Ohio.
New York
BROWN. Vice-President.
CHAS. A. STEVENS. Asst. Cashier.
Accounts of Banka, Firms Corporations and Individuals Sotidtsd.
upon dm Moat Libsml Tsrms Consistant with Oood R—M-g
Jan. 8 1910.
THE CHRONICLE
XXVII
Snwt ©ffmjnraijes.
Jtxjcountuttls.
Ml States m tipi or lev ion.
Chartered 1853
Arthur Young & Co.
45 and 47 Wall Stmt.
CAPITAL,
82,000.000.00
SURPLUS AND UNDIVIDED PROFITS,
$13,720,622.42
This Company aete aa Exoenter, Administrator, Guardian, Trustee. Oourt Depositary and la
ether recognised tenet oapaeMee.
It allows Interest at current rates on deposits.
Zt holds, menaces and Invests money, securities and other property, real or
personal, for estates,
»
rperattens and Individuals.
EDWARD W. SHELDON, President.
WILLIAM M. KINGSLEY, V.-Pres.
HENRY E. AHERN, Secretary.
WILFRED J. WORCESTER, Asst. Sec. CHARLES A. EDWARDS, 2d Asst.Sec.
W. Bayard
WMIam Rockefeller.
Menander B. Orr,
TRUSTEES.
JOHN A. STEWART, Chairman of th* Board.
Gustav H. Schwab,
John J. Phelps,
Prank Lyman,
Lewis Cass Ledyard,
Chauneey Keep,
James Stillman,
John Clafiln,
Arthur O. James.
William M. Kingsley.
George F. Victor,
H. Maey Jr*,
D. Sloane,
Certified Public Accountants
(ILLINOIS)
New Turk, SO Pine Street
Mllwatkee, 633 Welle Bldg
Chicago, 1313 Henadneek Bleak
Kaunas City, HOC Commerce Bldg.
Edward W. Sheldon
Lyman J. Gage,
Payne Whitney,
George L. Rives,
LYBRAND,
RO88 BROS A
MONTGOMERY
Certified Public Accountants
(Peaacy I vanla)
Laid Title
WE OWN AND OFFER
Dm,ffAV6 (ttSf
MUNICIPAL BONDS
First National Bank Bldg.,
CHICAGO
Yielding from 3.90% to 4.38%
Securities of the Public Service Corporation of New Jersey
Yielding from 4.30 to 6.13%
JAMES PARK
our
CO.
York,Chicago, Cincinnati and
London, England.
weekly list
AUDITORS
FOR
FINANCIAL INSTITU¬
TIONS, INDUSTRIAL AND
MINING 00MPANIB3
\
Fidelity Trust Company
BOND DEPARTMENT
TELEPHONE 1932 MARKET
&
OBRTIPIBD PUBLIC AOOOUNTANTB
Mow
Upon application we wiU be pleased to mail
of offerings and quotations
Building
PHILADELPHIA.
City Inventing Bldg., 163 Broadway
NEW YORK.
invoatlgntteM. Financial Stetemente.
Pextedloal Audita and
AswoH—
ALFRED ROSE & CO.,
NEWARK, N. J.
OEETXNED PUBLIC AOOOUMTAMVI
M Pin* StrMt, ■
NEW YORK
IdaikmUiUa,
LOOMIS. CON ANT & CO.
CERTIFIED PUBLIC ACCOUNTANTS
SO Btm4 StrMt, (tew Y.rk
TaL 4N8 Bra4.
Strongest in Working Capital
I*^*^^^*^**^*^**^<*^**^*
CENTRAL TRUST COMPANY
of NEW YORK
54
ivrrinivnvrri-YYYVYYWVwiAiLiu
M. Weld & Co.,
Stephen
COTTON
MERCHANTS,
82-02 Beaver Street, - New York
City.
BOSTON, PHILADELPHIA, PROVIDBNOB
Wall Street
Liverpool, Wild db Oa
Capital and Surplus, $18,000,000
Bremen. Albrecht, Weld a Oo.
(of which $ 17,000,000 has been earned)
Authorized
to act
as
Executor, Trustee, Administrator
Geo. H. McFadden & Bro.,
COTTON
MERCHANTS,
or
Guardian.
Receives Deposits, subject to check, and allows Interest on Daily Balances.
Acts as Transfer Agent, Registrar and Trustee under Mortgages;
PHILADELPHIA.
NEW YORK.
Liverpool Corrjcspondmnts:
BRBMXN
H ATRB
FREDERIC ZBREGA A 00
COBHBgPONDBMTS:
MdFADDEN BROTHERS A 00
CORRX8PONDKNT8;
SOCIMTB D’lMPOBTATTON
IT OB
Mason Smith &
COTTON COMMISSION
w
linoisTrust&Samigs Bank
CHICAGO
Capital and. Surplus
#13,300,000
Pays Interest
COMMISSIOS
Co.,
MERCHANTS.
NEW ORLEANS, LA.
MEMPHIS, TENN.
DALLAS, TEX.
Buyers of Spot Cotton. Orders tor Contracts
cuted tn the New Orleans, New
York,
Liverpool and Havre Markets.
R. H. ROUNTREE A
CO.,
Commission Merchants.
Cotton, Grain, Provisions and Coffee.
COTTON EXCHANGE BUILDING,
Time Deposits, Current and Reserve Accounts
NEW YORK.
Deals in Investment Securities and Foreign Exchange
HALL AND COMPANY
Transacts a General Trust Business.
on
COTTON MERCHANTS
CORRESPONDENCE INVITED.
tl* Itaut
AUGUSTA, OA.
THE CHRONICLE
XXVIII
[VOL.
LXXXX.
fiantLex« attd ^voIicks outside gew f«t.
PITTSBURGH
LOUISVILLE.
PORTLAND, ORE.
PITTSBURGH SECURITIES J. J. B. HILLIARD & SON,
LOU 18V ILL E, KY.
ROBINSON BROS.,
Members New York and Pit sburgh
Stock Exchangee
PITTSBURGH
INVESTMENT BONDS.
RAILWAY
Municipal and Corporation
SECURITIES
PACIFIC COAST SECURITIES A SPECIALTY
JOHN W. & 0. S. GREEN
We Bay and Sell
BONES
J. S. & W. S. KUHN
NASHVILLE.
Pittsburgh, Pa.
L.L. M’Clelland.
Sec. A Trees.
PAID-UP CAPITAL, 8500,000
CHILDS & CHILDS
Mam ban
New York ana Pittsburgh Stock Exchanger
mid Chicago Board of Trade
Cumberland Telephone & Tel. Co.
8% STOCK
Of all the different subsidiary Com¬
panies of the AMERICAN TELEPHONE
A TELEGRAPH 00., there are none
better than the CUMBERLAND.
has a quarterly cash
INVESTMENT SECURITIES Company
record of over 25 consecutive
PITTSBURGH, PA.
JANUARY INVESTMENTS
WE OWN AND OFFER
High-class investment bonds In denominations of
$100 to $1,000, netting from 4H% to 6%.
particulars upon application
Full
Tayior & Company
PITTSBURGH
NEW TORE
-
This
dividend
years.
Union Bank Building
H. P-
J. C. WILSON
LOUISVILLE, KY.
incorporated
President
PHILADELPHIA
.
And offers to investors FIRST*CLASS
SECURITIES of this nature
on
the Subject
NASHVILLE,
TENN.
-
-
THOS. PLATER & CO.
DEALERS IN
Nashville Chattanooga ft St. Louis Ry. Bonds.
Nashville Railway ft Light Co. Stock.
Cumberland Telephone ft Telegraph Co. Stock
Hopper & Co.,
STOCK AND BOND BROKERS.
SB South Third Street,
Philadelphia.
Investments receive our special attention.
Intwmation cheerfully furnished regarding present
beldings or proposed investments.
J. W. SPARKS & CO.
Corner Chestnut and Third Sts.
Philadelphia
.PHILADELPHIA oTOOK EXCHANGE
MEMBERS* NEW YORK STOCK EXCHANGE
■CHICAGO BOARD OF TRADF
E. B. JONES A CO.
BONDS
fend Title Bldg.
PHILADELPHIA
MEMPHIS.
.^^^^^^^A^VWWW>/WIWWWWW%»WW‘VWW,*IW,V>^<W%/WWWW“*|/WV%/WW>W^
JNO.
L.
NORTON,
Local Stocks and Bonds
86 Madison Ave.
MEMPHIS.
TENN.
MOTTU
&
CO.
Established 1892.
BANKERS AND BROKERS
NORFOLK, VA.
CALIFORNIA BONDS
the
a higher rate of interest than bonds
>ame merit
issued in the East
st
Correspondence l etted
LOS ANGELES. CAL
WILLIAM
R. STAATS CO.
Established 1887
Municipal and Corporation Bonds
TO YIELD 4% TO
Descriptive Circulars
ou
6%
Request
LOS ANGELES
John W. Dickey,
PASADENA
Joseph Ball Company
BHOKEB
BONDS
AUGUSTA. GA.
SECURITY
SOUTHERN SECURITIES
BUILDING
LOS ANGELES
MEMBERS LOS ANGELES STOCK EXOH ANOB
WANTED
Offerings of Southern Bonds
BOND HOUSE OF
and Stocks
BARROLL & CO.
WILLIAM E. BUSH.
AUGUSTA, GA.
H. W. Heilman Bldg.. LOS ANGELES
Merchants* Exchange.
Lumbermen’s Bldg..
San Francisco.
Portland.
ATLANTA
FIELDING
SOUTHERN
MUNICIPAL BONDS
YIELDING
THE ROBINSON-HUMPHREY CO.
ATLANTA, GEORGIA
MEMBER LOS ANGELES STOCK EXOHANG!
L08 ANGELES
SEATTLE.
S. C. OSBORN & CO.
Arctta Club Bldg.
BROKERS AND FINANCIAL AGENTS.
WE OWN AND OFFER
MUNICIPAL BONDS
Yielding 4M and upwards
HILLYER INVESTMENT CO.
ATLANTA.
■
GEORGIA
-
BIRMINGHAM ALA
Otto Marx & Co.
BANKERS AND
AND
Stacks.
Bends., Grain, Cotton
and Seattle Business Property.
Travelers may have orders executed with then
broken ever ear wires to 1 to 2 minutes.
Lena A Bryan—•enesBoadents; private wires
to aail members ef all leadiag Exchanges.
own
WM. D. PERKINS & CO.
SU CheiTF—8m<H*
INVESTMENT SECURITIES
coRPORAhotf BONDS
BROKERS,
Birmingham. Alabama.
STOCKS
J. 8TIL8ON
CO.
SECURITIES,
INYB8TinENT
4X% TO 5K%
BONDS.
BALTIMORE
NORFOLK, VA
James H. Adams & Co.
AUGUSTA
W. Q. HOPPER.
H. S. HOPPER.
Members of Philadelphia Stock Exchange.
Wm. G.
LOS ANGELES.
Investment Broker
Land Title
Building,
PHILADELPHIA
Coronado Hotel, Coronado Beach.
Correspondents.
Harris. Winthrop & Co. New York & Chicago.
They yield
purchase
Properties and Solicit
Correspondence
LOS ANGELES
Branch
GOULDING MARR
We
Such
SAN FRANCISCO
MUNICIPAL AND PUBLIC SEBVXO*
CORPORATION
.
GAS AND ELECTRIC PROPERTIES
fNew York Stock Exchange.
MB MB ER-j Chicago Board of Trade.
[Stock and Bond Exchange, S. F.
Private Wire to Chicago and New York.
For circular and quotations, address,
THE C H. GEIST CO.
OWNS AND OPERATES
SAN FRANCISCO.
STOCKS AND BONDS
INVESTMENT SECURITIES
(NO STOCKS)
of
BONDS
A Specialty
Correspondents: WALKER BROS.. 71 Bway. N.Y
ESTABLISHED 1863
James 8. Knhn.
PHILADELPHIA
BANKERS AND BROKERS.
STREET
PA.
INVESTMENT
MORRIS BROTHERS
PORTLAND
COLSTON, BOYCE & CO..
Write tor
Monthly Ltot
DENVER, COL
Nevada^Cdifornia Power Co. 6s
Denver & Northwestern Ry. 5s
and^Stock
State of Colorado 3s
JAMES N. WRIGHT & CO.
312 CENTURY BUILDING,
BALTIMORE
Investment Bonds
Southern Securities
CALVIN BULLOCK
DENVER
CITY TRAMWAY
£BONDS
XXIX
THE CHRONICLE
Jan* 8 1910.
^Krikevs and g««rtue«s omtstde pew
Lee Benoist & Co
A. 6. EDWARDS & SONS.
BANK OF COMMERCE BUILDING
1 WALL ST.
f
.
NEGOTIATED
GENERAL FINANCIAL BU8INESS TRANSACTED
CORPORATION AND COLLATERAL LOANS
AND A
MERCHANTS BRIDGE CO.
Mortgage 6% Bonds
First
CINCINNATI.
SCRANTON.
Specialize in Securities of
CO.,
ft
BROOKS
"
(Successor to Short. Stanton ft Co.)
HIGH-GRADE
Municipal and Corporation Bonds
Street
SCRANTON, PENNA.
BOUGHT AND SOLD
SMITH ft CO..
York City.
ROCHESTER. N Y
jm\nAAiWini‘»vivi‘*‘*‘*******"**>*"***l>******"**<>"*******"**,>,>MM'
B0NBR1GHT & HIBBARD
100 Powers
Building.
Yield
to
(Ckleago Board of Trade.
SPECIALISTS ROCHESTER SECURITIES
Investment Securities
CHICAGO
DEALER IN
WIRES NT®
PRINCIPAL MARKETS
PRIVATE
800 N* FOURTH ST.,
...
.
OHIO
R. Compton Co.
William
CLEVELAND.
Hayden, Miller & Co
Mchts .-Laclede Bldg.,
ST. LOUIS
CLEVELAND, O
CIRCULARS AND LIST ON APPLICATION
Eugene M. Stevens & Co*
Securities
MINNEAPOLIS—ST. PAUL
Local Securities
WELLS
Kansas
City Ry. A Light Issues,
CHICAGO.
A. O.
SAINT PAUL
CHICAGO. ILL.
Minnesota Transfer
St. Paul Gas Light
BODELL & CO.
BLDG., PROVIDENCE
New York Stock Exchange,
New York Cotton Exchange,
New York Codec Exchange.
Hem beret
$c/tvia ZVAite <$• Co.
Bonds and Preferred Stocks
State Savings
of Proven Value*
Slaughter & Co..
BARKERS Sc BROKERS,
139 MONROE STREET,
City Rapid Trans. 5e, 1923
Ry. 5s, 1915
Go. 5s, 1944
Twin
RIO*
WNN.
Minneapolis Gas Ught Co. 5s and 5s.
Twin City Rapid Transit System Bonds.
Lighting & Railway
CITY,
Western Municipals.
Local Securities.
MUNICH?Ah St CORPORATION BONDS
Bonds and Stocks
McCRUM
KANSAS
DICKEY CO.
&
N1NNEAPSLI8.
H.
INVESTMENT CO
South Dakota Control 5s
Mhmosotu ft Ontario Power ts
ALBERT P MILLER Jr.
BUILD1NQ
PROVIDENCE* R. I.
W.
M. St. P. ft S. Sto. Marie 4*
Duluth Misaabe ft Northern 5s
PROVIDENCE.
INDUS1R1AL TRUST CO
KANSAS CITY, MO.
BOlMbh
SPECIALISTS IN '
90S BAN1GAN
DEALT IN
MINNEAPOLIS.
Y
205 LaSalle*8t*,
CHICAGO
MUNICIPAL
and other
HIGH-CLASS BONDS
Investment Bonds
JOHN T. STEELE
Government Municipal
and Corporation Bonds
ST. LOUIS
-
Cincinnati Securities
CINCINNATI.
Cltlxene Building*
das, Electric
Cent
WHITAKER & CO.,
BUFFALO.
Buffalo and Western New York
Per
5H
Bptelal Attention to St. Louie Securities
EDGAR FRIEDLANDER
Application.
BUFFALO. N
about
533 lit Nat Bk. Big..
10054th Nat Bk. Big.
CINCINNATI
t Now York Stock Exchange.
Ilf ember st < Rochester Stock Exchange.
Dally Lists Hailed os
Price
the
CINCINNATI, OHIO.
TMirt,Stanton,WorthingtonGo.
423 Spruce
ST Pine St.. Now
February 1, 192i
Interest on this issue is guaranteed by
Terminal RR. Association of St. Louis.
WEIL, ROTH & CO.
BANKERS
MEMBERS NEW YORK STOCK EXCHANGE,
Correspondents: EDWARD B.
Due
MUNICIPAL BONDS
To net oyer 4%
Tax-free throughout the U. S*
New River
Temple Iron
Chicago Subway
lOott Thro win*
Scranton Railway
U. S. Lumber
Scranton Electric
Spring Brook Water
Pa. Cent. Brewing
Pa. Coal A Coke
Scranton Qaa ft Water
Northern Electric
Now Mexico Ry. & Coal Paint Creek CoUieriea
W. B. ft Wyo. V. True.
Laclca. ft W. V R. T.
St. Louis, Mo.
412 Olive St.,
ST. LOUIS
New York Produce Exchange.
4»
ssSiSfVJs*?
f,*l-r<»hnnf* *• vrk.nM.
Bank Bldg., St, Pan'
A. G. Becker &
NEW ORLEANS.
Co.,
(raOOKPORATID.)
INDIANAPOLIS.
LEWIS H. STANTON & CO. COMMERCIAL
STOCKS AND BONDS
Joseph T. Elliott & Sons.
Investment Securities
NEW ORLEANS.
Indianapolis Stock Exchange
Nat. Bank Bldg.
INDIANAPOLIS
Members
AND SELL
INDIANA TRACTION SECURITIES
Platchsr Bank Bldg1
INDIANAPOLIS
I WILL BUY
)
PROVIDENCE.
LA.
ji-fUV'M' * * ‘
Richardson & Clark
‘
EDWIN R. CASE,
NEWTON TODD
S, W. Cor. Monroe & La Salle 8ti„ Chicago.
NEW JERSEY.
j
NEW JERSEY SECURITIES.
No better Securities
Id EXCHANGE PL.ACE
Tele. 545 and 751
JERSEY CITY
No better State
PAPER,
25
Exchange Street, Providence, &. I*
Bonds, Stocks and Local Securities,
Private wires to Boston,
and New York.
....
Philadelphia
XXX
THE CHRONICLE
Gotten.
[VOL.
ginaticial.
LXXXX.
Ifitrattjcial,
WOODWARD
&
STILLMAN,
COTTON
16 to
E.H. ROLLINS&SON8
MERCHANTS
ESTABLISH BD 1S7S
22 WILLIAM STREET.
bankers:
NEW YORK.
AMERICAN COTTON OF ALL GRADES
ABLE TO WANTS OF SPINNERS.
SUIT¬
Negotiate and Issue Loans for Rail¬
Corporations.
Bay and sell Bonds suitable for
roads and Established
BONDS
Investment.
INVESTMENT
Established or 1SG&
Henry
Hentz & Co.,
COMMISSION
FOR
206.1A SALLE ST, CHICAGO
Fiscal Agents for Oitiea and Corporations
MERCHANTS,
16 to 22 William Street, New York.
JSaMowte Orders /or Future Delivery
LIST ON APPLICATION
COTTON
At the New York. Liverpool and New Orleans
Cotton Exchange* Also orders for
(QFFEE
At the New York Coffee Exchange
GRAIN AN® PROVISIONS
at the Chicago Board of Trade and
GRAIN AND COTTON-SEED OIL
At the New York Produce Exchange
Hubbard Bros. &
COFFEE EXCHANGE
Co.,
CHICAGO CITY MORTGAGES.
HIGH-GRADE INDUSTRIAL BONDS,
GHICAGO REAL ESTATE B0ND&
CORPORATION 1 RAILROAD BONDa
BUILDING,
SEND FOR
HANOVER SQUARE,
MEW IORJL
COTTON
MERCHANTS.
Liberal Advances Made
on
BOSTON
DENVER
CIRCULARS.
181 La Salle Street,
F. H. PRINCE &
CHICAGO.
Consignments,
Established 1865.
GEO. H. BURR & CO.
COTTON-SEED OIL.
Room 5‘i, Cotton Exchange Building,
NEW VOttK.
Lihuan. stje&n
a Co.
Limited. New
Orleans, La
LEHMAN BROS.,
ffoa. 16-22 William Street, New York.
Members of the Stock, Cotton, Coffee
and Produce Exchanges, New York.
Orders executed on the above Exchanges, as well In
New Orleans, Chicago and foreign markets.
Siegfr. Gruner & Co.,
GOTTOH
MERCHANTS
17 South William Street,
NEW TORE.
WILLIAM RAY A CO.
SUCCESSORS TO
GEO.
COPELAND A 0O„
COTTON BROKERS,
43 Cotton Exchange,
New York,
Orders for future delivery contracts executed on
the New York and Liverpool Cotton Exchanges.
43
Commercial Paoer
Exchange Place - New York
MERCHANTS,
22 Exchanoe Place,
-
-
New Yorm.
ROBERT MOORE St
CO.,
66 Beaver Street, New York,
ORDERS FOR FUTURE DELIVERY EXECU¬
TED IN NEW YORK AND LIVERPOOL EX¬
CHANGES.
COTTON PURCHASED FOR SPINNERS USE.
Investments.
Member* of New York and Boston 8took Exchange*
Chicago
Boston
St Louis
Philadelphia
Kansas City
San Francisco
vtnw&i&efrjifoerfiSK
Municipal and Corporation
First National
Bank Bldg.
Chicago
RONH9
„
*3U IN DO
in
Broadway
New York
Sullivan Brothers
..
Boston
427
Co
CHESTNUT STREET
PHILADELPHIA, PA.
Members
Chas. S. Kidder & Co.
MUNICIPAL & COR¬
PORATION BONDS
182 LA SALLE
&
BONDS
—
50 Congress St.
STREET,
CHICAGO
GWATHMEY A CO.,
COTTON
BOSTON. MASS.
Hl»h* Grade
BANKERS
COMMISSION MERCHANTS.
CO.,
BANKERS
Hopkins, Dwight & Co.,
and
SAN FRANCISCO
PEABODY. H0U6HTELING & CO.
Cotton
COTTON.
CHICAGO
\Ncw
York St®ck Change
1 Philadelphia
44
44
Eetaolianed 1808.
W. T. HATCH & SONS*
BANKERS AND
71 Broadway.
BROKERS,
New York.
-
MEMBERS OF
NEW YORK STOCK EXCHANGE.
Devitt. Tremble & co.
BONDS FOB INVESTMENT
FIRST NATIONAL BANK BLDQ.
CHICAGO
PHILA. NATIONAL BANK BLDQ..
PHILADELPHIA
SMITH
& HAYNE.
Frank B. Hayne (In Commendam
CLEMENT & SMITH
Successors to HAVEN A
1 Nassau
Street,
corner
CLEMENT,
Wall Street.
Members of the New York 8took Exchange.
Bonds, Stocks, Cotton, Grain,
)
Cotton
COTTON
Brokers,
EXCHANGE BUILDING,
NEW ORLEANS, LA.
ORDERS FOR FUTURE DELIVERY EXECUTED
IN NEW ORLEANS. NEW YORK AND
iirnupnni
(Other co.ton cards
MihKhTQ
on
preceding page.)
H. T. HOLTZ & CO.
Municipal School
Public Service Corporation
INVESTMENTS
and
Railroad Bonds
Edward Lowber Stokes
104 South Fifth 84.
PHILADELPHIA.
171
La Salle St.,
Chicago
DominicK A DominicR
IIS BROADWAY
Member New Terk Stock -r-*~«~T
United Bank Note Corporation Stocks
DICK
BROTHERS A CO..
BANKERS AND
30 Brand 8t,.
•
BROKERS,
*ew Yark.
Member* ef N. Y. and Phlla. Stock
Exchanges
New York. New Orleans and
Liverpool Gotten
Exchange*. New York Coffee Exchange
and Ohioage Beard of Trade.
@FedFRASER