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Financial
Ip m m u r r iH
IN C L U D IN G
Bank & Quotation Section
Railway Earnings Section
Railway & Industrial Section
Bankers’ Convention Section
VOL. 89.
S A T U R D A Y , J U L Y 10 1909.
Electric Railway Section
State and City Section
NO. 2298.
She Cliraniclje.
*
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C H IC A G O OFFICrB—P. B artlett,513 Monadnock Block; Tel. Harrison 4012.
LO N D O N O F F IC E —Edwards & Smith, 1 Drapers’ Gardens, E. C.
W IM J A M
15. D A N A C O M P A N Y , P u b l i s h e r s ,
P . O . i .o x ! ) 5 8 .
F r o m , F in e h ik I P ep cyw te r S t s .,
N ew Y o r k .
Published every Saturday mornin r by W I L L I A M B. D A N A C O M P A N Y
W illiam B. Dana, President; Jacob Seibert J r., Vlco-Pres. and See.; Arnold
G. Dana, Treat*. Addresses ot all.Oillco of the Company.
CLEARING-HOUSE RETURNS.
T h e f o llo w in g t a b le , m a d e u p b y t e le g r a p h , & c ., in d ic a te s
t h a t t h e t o t a l b a n k c le a r i n g s o f a ll c l e a r i n g h o u s e s o f t h e U . S .
fo r w e e k e n d . J u ly 10 h a v e b een $ 2 ,6 0 4 ,2 0 3 ,7 9 9 , a g a in s t $ 3 ,
4 5 0 ,7 2 3 ,9 8 2 la s t w e e k a n d $ 2 ,5 6 1 ,0 9 4 ,8 6 0 th e w e e k la s t y e a r
10
1909.
1908.
%
New Y o r k ................
B oston_____________
Philadelphia________
Baltimore___________
C hicago.......... ..........
St. Louis___________
New Orleans......... .
it
Seven cities, 5 days.
Other cities, 5 dayB__
SI,263,510,071
107,860,012
88,130,922
19,205,248
188,042,505
44,477,066
13,049,175
$1,218,274,873
124,727,933
103.477,200
23,870,170
207,170,438
51,168,909
9,437,824
+ 3.7
— 13.5
— 14.5
— 19.3
— 8.0
— 13.1
+38.3
31,725,250,959
430,279,418
$1,738,133,047
383,479,012
— 0.7
+ 12.2
Total all cities, 5 days.
All cities, l day__________
$2,155,530,377
478,073.422
$2,121,013,259
439,481,601
+ 1.6
+ 8.0
Total all cities for week _
$2,634,203,799
$2,501,094,800
+ 2.9
Clearings—-R eturns b y Telegraph J u ly
* Holiday in week this year.
T h e f u ll d e t a i l s f o r t h e w e e k c o v e r e d b y t h e a b o v e w ill b e
g iv e n n e x t S a tu r d a y .
W e c a n n o t fu rn ish th e m
t o -d a y ,
c le a r i n g s b e i n g m a d e u p b y t h e c le a r i n g h o u s e s a t n o o n o n
S a t u r d a y , a n d h e n c e in t h e a b o v e t h e l a s t d a y o f t h e w e e k h a s
t o b e in a ll c a s e s e s t i m a t e d , a s w e g o t o p r e s s F r i d a y n i g h t .
W e p r e s e n t b e lo w d e t a i l e d fig u r e s f o r t h e w e e k e n d i n g w it h
S a t u r d a y n o o n , J u ly 3 , fo r fo u r y e a r s .
C learings
W eek ending J u l y 3 .
i
1909.
New York____ 2,200.216.395 1,350.530,240
143,255,010 107,460,804
Philadelphia. . .
64,239.017
Pittsburgh____
37.972,749
32.307,430
Baltimore____
28,2.80,512
Buffalo..............
9,199,408
9,330,552
Albany________
0.937,273
5,214,458
Washington .
0,948,753
4,766,174
Rochester____
3,989,011
4.400,000
Scranton______
3,002,807
2,795,855
Syracuse______
2,592,820
1,826,543
Reading ______
1.050,505
1,191,193
Wilmington____
1,517,557
1,206,349
Wilkes-Barre . . .
1,328,147
1,463,208
Wheeling ........
1,420,004
1,604,784
Harrisburg____
1,269,290
1.400,025
Trenton .......... .
1,205,201
1,007,235
Y o r k ............ ..
773,785
1,012.108
E ric.................. .
004,775
803,457
Binghamton___
559,100
425,100
Greensburg____
501,000
510.000
Chester............ .
528,902
472,791
Altoona_______
424,265
330,060
Franklin.......... .
280,500
255.000
Total Middle.. 2.482,630.345 1.569,359,259
Boston _______
Providence____
Hartford ............
New Haven____
Sprlngllcld.........
Portland______
Worcester..........
Fall River..........
New Bedford . . .
Holyoke_______
Lowell_________
174,228,455
7,898,300
6,744,870
3,609,574
1,950,000
1,933,422
1,963,103
1,197.079
8.7,174
005.42.8
551.290
141,930.047
6,020,800
3,787,134
3,000,657
1,705,487
1.840,152
1,332,950
1,021,997
879,092
492,718
412,445
Total New Eng.
200,578,695
102,344,085
+23.5
195,488,071
177,708,067
’ This year s clearings considerably is creased by out-of-town clearings department
THE CHRONICLE
70
[VOL. LXXXIX.
point cannot be accepted as conclusive. Further
more, the law would be one-sided and uneven,
inasmuch
as the tax, and the vexatious and repugnant
The index to Volume 88 of the “ Chronicle” — which
features
connected
with it, would not extend to ordi
volume ended with the issue of June 26— is mailed
with this issue. As has been the practice for the past nary partnerships, but would apply for the time being
three years, the index is issued as a separate pamphlet (until a Constitutional Amendment can be adopted) to
corporations and joint-stock associations alone. Legis
for convenience in binding.
lation embodying so much that is new, and so much
that is obnoxious, and so much that is doubtful, should
THE FINANCIAL SITUATION.
Rapid progress has been made with the tariff bill not be hastily enacted. Action should be slow and
■the present week. The Senate, sitting as a Committee deliberate. The matter should be studied in all its
of the Whole, completed its work on the bill on Tues bearings. Time and mature consideration are needed
day, whereupon it was reported to the Senate itself, for this purpose, and thus tar the subject has had
which, after making further amendments and altera neither. The proposition was suddenly injected into
tions, passed the bill on Thursday night. Yesterday the tariff discussions by the President in his special
it went to the House, and it is now in the hands of message three weeks ago, and he sought to support it
conference committees of the two Houses. Whatever by arguments which, in part at least, had no rele
hope remains of the elimination of the provision for vancy whatever to the subject of tariff legislation.
There is the more reason for deliberation inasmuch
the taxation of the incomes of all corporations through
as
no harm could result from the postponement.
out the whole country— the feature which the Senate
The
tax cannot be defended on any ground other than
grafted on the bill— rests upon the possible action of
that
it will furnish a new source of revenue for the pur
these conference committees. Before the bill came
pose
of meeting a possible Treasury deficit; but the
out of the Committee of the Whole of the Senate,
Treasury
situation in the matter of deficit revenues is
an amendment was agreed to excepting building and
growing
daily
less urgent. In the debate on Monday
loan associations organized for the mutual benefit of
Senator
Aldrich
pointed out that the matter of giving
their members and labor organizations and religious,
authority
for
new
bond issues, embodied in the House
charitable and educational institutions from the op
bill,
would
be
held
over for consideration at the next
eration of the law. In open Senate Mr. Aldrich, under
session
of
Congress,
and it could then be determined
protest, eventually accepted a further amendment,
making holding companies subject to the tax. this if there was necessity for such issues. Mr. Aldrich
will mean (if the proviso be Constitutional) that these asserted that during the last two months the receipts of
latter will be subject to a double tax, first on the in the Treasury had equaled the ordinary disburse
come of the companies controlled and then again on ments, and he felt sure that there would be no need
the income which the holding company receives in the for the extraordinary provisions of the House bill be
shape of interest or dividends on its investments in fore the convening of the next Congress, in December.
Mr. Aldrich did not say so, but it is obvious that if
the securities of its subsidiary companies.
As the only escape from the enactment of the cor Congress waits until then there may be no occasion for
poration tax law seems to be through the action of the the no less extraordinary provisions of the Senate bill
conference committees, great responsibility obviously imposing a tax on corporate incomes.
In our analysis of the Government financial state
rests upon these latter. In the intciest of the whole
business community, consumed by fears and doubts ments for the fiscal year ending June 30 1909, in a sub
as to the effects of such a law, and in the interest of sequent article, we show that even after taking care of
wise and conservative action, would it not be the best the large Government deficits of the last two years,
course for the conferrees to agree that this part of the the Treasury still has an available cash balance suf
tariff bill shall lie over until the regular session of ficiently large to meet all its probable needs for a con
Congress the coming December? A corporation tax siderable time to come, and we also show that Gov
is a now and untried venture.
It is an experiment ernment troubles have really arisen out of the tremen
the result of whose operation can only be guessed at. dous increase in Government expenditures through
It is a departure in governmental affairs. It is a step, Congressional appropriations. What is wanted more
and a very dangerous one, in the direction ol centrali than new sources of revenue is retrenchment and
zation. If it can be enforced it will mean the oblitera economy in Government expenditures. We under
tion of State boundaries and the arrogation to itself stand that the Administration is bending all its ener
by the Federal Government of powers which of right gies towards bringing about a reduction in expenses.
belong to the States. It will mean meddling on the Postponement of action on the corporation tax pro
part of the Government with private affairs, for the posal would have the advantage of affording time forlaw is to apply to all classes of corporations, mer carrying these plans of retrenchment into elfect and
cantile, manufacturing, trading and financial, and an for determining whether, with revenues increasing and
extensive body of information is required in the annual disbursements being curtailed, any occasion remains
returns which corporations are called upon to make. for levying a corporate tax at all.
There is yet another consideration which would seem
The tax cannot be collected without extensive pryingto
clinch the argument in favor of deferring considera
and spying into the affairs of citizens who may be
tion
of the matter until the regular session of Congress.
carrying on their business activities in corporate form,
We
refer
to the fact that the measure as it now stands
and such a system of espionage does not comport
does
not
contemplate
any immediate revenue from the
with the .notions generally entertained of individual
tax.
Not
a
'penny
of
the
tax can he collected until June
liberty and freedom.
of
next
year.
In
truth,
no
computations of the tax will
Nor is it by any means certain that the proposed
be
possible
until
after
the
close
of the curront calendar
measure is Constitutional. Mr. Taft’s dictum on this
CAIRO NICLE l N D E X .
JWLY 19 1901).j
THE CHRONICLE
year. The third paragraph of the proposed section
distinctly provides that the tax is to be computed
Tor the year ending Dec. 31 1909, and for each year
thereafter.” The annual returns required, and which
will form the basis of the assessment, are not due until
March 1 1910 and annually thereafter. Finally, the
fifth paragraph provides that the several corporations
“ shall be notified of the amount for which they are
respectively liable on or before the 1st day of June of
each successive year/ and said assessments shall be
paid on or before the 30th day of June.”
It is therefore clear that the tax cannot be produc
tive for a full year to come. It follows that the Gov
ernment will be just as well oft if the measure is en
acted next December or January as if enacted now,
and it can lose nothing through deferral, so that
there is absolutely no need for undue haste. Thus, all
the factors are iavorable to deliberate and wise action,
and if the conferrees of the two Houses have the welfare
of the mercantile community at heart, they will urge
that members of Congress be allowed to go home
and consult with their constituents before' finally
passing upon the proposed corporation tax law.
71
ducive to low exchange. The decline in rates for short
sterling was gradual until Wednesday, the movement
being held in check, as reported, by a demand for
sight bills to cover oversold cables; later, however,
speculative selling caused a sharp fall and the market
continued heavy to the close. Though there were
some expectations of exports of gold hence to Paris
as an arbitration operation, they were not realized,
exchange conditions preventing. Shipments to Ar
gentina amounted to -13,350,000.
In view of the fact that the German Reichstag has
passed a measure for a quotation tax— which will, if
enacted, have an effect similar to that produced by
the American corporation tax—it is interesting to
note how the former is regarded in Germany. In a
memorial presented to the Reichstag by the German
Chambers of Commerce it is shown that the Deutsche
Bank, for example, would have to pay, besides exist
ing taxes, £72,000 annually merely to keep its stock
on the quotation list. The Gelsen-Kirchen Mining Co.
(coal and iron), which pays 54% of its net profits in
the form of national, State and local taxes, would
be required to pay a further sum of £46,850 per year
to have its shares quoted.
Concerning monetary conditions in London, the
opinion expressed by a British journal is that the out
look for the next six months is for the continuance of
fairly easy conditions of the money market. The
Bank of England begins the new half-year in a strong
position. The foreign exchanges are sufficiently
favorable to cause the gold arriving from the mining
countries to be absorbed by the Bank. “ It is not im
probable,” says this journal, “ that by the end of
August the Bank will have larger stocks of gold and of
cash than for many years. Doubtless later in the
autumn the position will change. There will be the
demand for gold for Egypt to be met, probably an in
quiry for India and possibly from the United States.
I he Ameiican situation is, however, a complex one,
and it is not possible to form a definite opinion of the
course of events. Trade in the States is improving
and the recovery has led to large imports of goods at a
time when the exports are relatively small. Thus the
balance of trade is, for the time being, against the
United States. I he expenditures of American tour
ists in Europe this year are very heavy. Indeed, it
is evident that a large portion of the exports of produce
fiom the United States, in the later autumn, have been
already paid for by Europe,”
There were a number of favorable developments
upon the resumption of business after the holidays.
There was a fall in exchange at Chicago on New York,
indicating a better demand for money in the interior
centres than had recently been observable. The
lecoid ol idle cars disclosed a diminution, showing an
increased movement of commodities; crop prospects
were more favorable, giving promise of a continu
ance of the active employment of transportation lines.
Local money rates for call and for fixed periods frac
tionally receded; the return to the banks of funds that
had been distributed for interest and dividends will
account for the ease in day-to-day money, and the
pressure of foreign finance bills and of augmented
deposits in banks and trust companies contributed to
the decline in rates for time money.
Of possibly far-reaching importance, indicating a
broadening of the continental market for our securities,
was the official report that the St. Louis & San Fran
cisco RR. Co. had succeeded, through Speyer & Co.,
its New York bankers, in placing in Paris 10 millions
of its bonds, moreover, Kuhn, Locb & Co. were rcpoi ted as having distributed abroad a considerable
portion of the 3 7 ^ million Southern Pacific convert
ibles which they purchased from the Union Pacific
last week. A Paris cable early in the week, repre
senting that the application for the listing of Steel
Considering the fact that the Railroad Commission
common shares on the Paris Bourse had been rejected
of the State of Pennsylvania has no power to enforce
was officially denied by Morgan, Harjes & Co., who
its recommendations, the railroads of that State are
stated that negotiations to this end were still pro showing remarkable readiness to comply with the
ceeding.
wishes of the Commission. During the past week the
There was almost a continuous decline in foreign Pennsylvania Railroad has signified its intention of
exchange during the week, as elsewhere noted. The complying with a recommendation that a station at
conclusion last week of the semi-annual settlements Fortieth Street, within the city of Philadelphia, be re
at European centres resulted in the satisfaction of the established. It has been the policy of the company
demand for cables for prompt remittance. The ne to abandon stations within the city, and conforming
gotiation abroad of American securities promised to this policy the Fortieth Street station was aban
the creation of new credits which would contribute doned some years ago. Residents of that vicinity com
to the attraction of foreign capital for employment, plained that the railroad had not a legal right to
wore there to be, from any cause, need therefor by abandon a station; that property had been acquired
reason of activity in money in the fall. The expec in the vicinity of the station on account of the con
tation of an early and a liberal movement of cotton venience afforded for transportation to and from the
and other commodities was an important factor con centre of the city, 1% miles distant, and that the with
73
THE CHRONICLE
drawal of these conveniences worked a hardship to the
residents and caused a decrease in property values.
The railroad contended that it is the mission of the
electric railways to care for the urban traffic. Trolley
roads, having superseded horse-cars, a rapid and fre
quent service is now afforded by the street cars, which
makes it unnecessary for steam roads to have stations
to accommodate the urban traffic. It was urged that
it was the mission of the steam railroads to care for
suburban passenger traffic; that it was unjust to com
pel a railroad to supply equipment for passengers who
would ride but 4l/i miles, leaving the coaches empty
for the balance of a run of 20 miles, and that it was
unjust to suburban passengers to cause them unneces
sary delay by stops within the city, stops which in
creased the danger of accidents.
Disregarding the wishes of the railroad and the con
venience of suburban passengers, the Railroad Com
mission has considered only the interests of the com
paratively few persons residing in the vicinity of the
abandoned station and recommended its restoration.
President McCrea, in expressing his intention to re
establish the station, intimates that the act is experi
mental, and if it is found that the traffic does not war
rant its continuance, the station will again be closed.
In almost every instance since the creation of the
Commission the railroads of Pennsylvania have abided
by its findings. This is the more remarkable as the
State harassed the railroads by enacting an obnoxious
two-cent fare law which each railroad affected had to
combat in court in order to demonstrate that it was
unconstitutional. Even in the face of a decision of
the State Supreme Court, the recent Legislature was
not fair enough to repeal the law so as to avoid the
necessity of each railroad making a legal battle to
protect itself.
The annual “ movement” towards the popular onefare rate to Coney Island is up again. The Public
Service Commission decided last week that one line
to the Island may lawfully and properly charge ten
cents on Saturdays, Sundays and holidays, but inti
mated that a complaint against that fare on “ week
days” might be entertained—the Coney Island &
Brooklyn having prior to Aug. 31 last year charged
only five cents on week days. The individual whose
complaint was thus decided against him now proposes
to make a fresh complaint in favor of the single fare
on those other days, and the reported expectation is
that a single fare at the time when the largest number
of persons are not free to go will be ordered. Prob
ably nothing new can be said on this subject, but it
illustrates once more how many persons who want
certain things in themselves desirable are indifferent
about the means of obtaining such things.
The person who wants the single fare is right, to a
degree. Judged by considerations of public health
and comfort, or by the ratio which income bears to
living expenses, a plausible argument could be made
that every man has a sort of right to a five-cent fare
between the Island and Bronx Borough, including a
comfortable seat and a half-rate, or no rate at all, for
his small children. When we ask who is to grant this
right, the trouble begins. This particular complainant
has not satisfied himself what the effect upon the carrier
would be; he doe’s not conceive that this concerns
him, and so he does not care. If the law can paternally
[VOL. LXXX1X.
force his demand for the single fare, he knows what
direct advantage he would gain; the indirect and later
injury to himself he does not see,and how others are
affected is for themselves.
Gov. Hughes’s veto of the low-fare bill, one of his
early acts and in itself creditable to him, was despoiled
of its due moral effect by his putting it on the ground
that this matter properly belonged to the then newlyfounded Commission. What they will now do let us
not seek to anticipate, but the ground upon which the
subject is placed is the same as that of much of govern
mental policy of recent years, namely: readjustment
of property relations; equalization of the good things
of this life; helping the slow and weak by hampering
the stronger; granting the desire of the dissatisfied, at
the expense of those apparently more fortunate;
applying temporary remedies without inquiry as to
their later effects.
Word comes from the West of two recent important
placer gold discoveries, which may become the scenes
of great mining camps within a short time. These
two discoveries are within a day’s travel respectively
of the cities of Victoria and Vancouver, British Colum
bia. It is said that on Seymour Creek, in the vicinity
of Victoria, the gold is running at the rate of twenty
cents to the pan. The Vancouver Island discovery
at Port Renfrew on the Sombrio River is near the
scene of British Columbia’s first gold mining. These
new finds may be a continuation of the original
deposits, which formerly returned some $60,000 for
the month’s work.
A certain Chief Justice once said that “ the power to
tax is the power to destroy.” The words “ taxation”
and “ representation” played an important role in the
early history of our country. And our wise fore
fathers who framed the Constitution realized the
necessity of apportioning direct taxes among the sev
eral States according to their respective numbers.
An amendment to the Constitution permitting Con
gress to levy an income tax without regard to ap
portionment by population, and with an exemption
figure which would practically exclude many States
from the operation of the measure— thus placing the
burden of the taxation on a few Eastern States, notably
Massachusetts, New York, New Jersey and Penn
sylvania—is manifestly a departure from the wisdom
of our forbears, from the Constitution they adopted,
and from justice and equity. Furthermore, if Con
gress, even without a Constitutional Amendment,
may tax the charter or the privilege of a corporation
formed by a sovereign State at the rate of 2% , why
not equally well at the rate of 5% or 10% ? If the
exemption figure of $5,000 is not large enough to
satisfy the interior States, which are to profit chiefly
by such exemption, the sum can be increased to $25,
000. Raise the percentage figure, increase the amount
of exemption, and it becomes clearly apparent that it
is the business of our great Eastern commonwealths
which must chiefly suffer.
The favorable grain-crop situation in this country
to which we alluded last week finds substantiation in
the official report of the Department of Agriculture
for July 1, issued on Thursday afternoon. That re
port discloses a highly gratifying promise for all the
-Ju l y IQ 1 9 0 9 .]
THE CHRONICLE
73
leading cereals. The report furnishes the initial data bushels. Fifteen million bushels is, of course, a very
for the season concerning corn— our largest cereal small total, and visible stocks (at ports, interior towns
crop— of which a very full planting is indicated, and afloat) are also very light; but new wheat is begin
the area for the whole country being estimated at ning to move and the prospect of a large yield has re
109,006,000 acres, against 101,788,000 acres in 1908, moved all apprehensions of lack of supplies and,
or an increase of 7.1% . In practically every State presumably, of inordinately high prices.
there have been additions to area, and in a number of
Oats condition is also high, according to the Depart
cases they have been conspicuously large. In Okla ment, averaging 88.3 for the whole country on July 1,
homa the increase is placed at 20% , in Louisiana 30% which compares with 85.7 on the same date in 1908,
(corn having been substituted for cotton through fear 81 in 1907, 84 in 1906 and a 10-year average of 86.8.
of a boll-weevil invasion), in Kansas 10% and in The outlook, therefore, at this writing appears to be
Illinois, Missouri, Indiana, Ohio, Arkansas and for a crop closely approximating the record of 988
Mississippi each 8% . Moreover, the condition of the million bushels made in 1902.
crop is high— well above last season and better than
in any recent previous year. The general average
The movement of immigrants into the United States
lor July 1 is placed by the Department at 89.3, against for some weeks past has shown a declining tendency.
82.8 on July 1 last year, 80.2 in 1907, 87.5 in 1906, A month ago we pointed out that the arrivals at the
87.3 in 1905, 86.4 in 1904 and a 10-year mean of 84.8. port of New York for the month of May were about
Leading States, such as Kansas, Illinois, Missouri, 7,000 less than for the preceding month, foreshadowing
Iowa and Oklahoma, under the stimulus of favoring a similar outcome for the whole country, and the
weather conditions, all make a much more satisfactory result for June, made up in the same way, exhibits a
showing than a year ago. The only localities where decline of 24,000 from May. For May this year the
the situation is at the moment less favorable this year inward movement of immigrants, according to the
is in a few of the Southern States and Nebraska, and official statement, was 107,839, which, although 8,915
even in these instances the impairment is compara less than in April, was almost three times the aggre
tively unimportant. Altogether the present promise gate for the period in 1908 (36,317). But in 1907 and
is for a yield very much greater than in either 1908 1906 the arrivals were very much greater, having been
or 1907, and also well in excess of the bumper crop of 184,886 and 150,927 respectively. As heretofore in
2,927,416,091 bushels in 1906.
1909, the May immigration was largely from Southern
The wheat situation also presents encouraging Europe, Italians predominating. For the five months
features. The general average for winter wheat is of 1909 the influx of immigrants was 448,653, which
given as 82.4, an improvement of 1.7 points during compares with the meagre aggregate of 160,709 for
the month of June, and this gain is particularly notice the like period of 1908 and the record total of 589,218
able because during the same month in 1908 a decline in 1907. But for the eleven months of the fiscal year
of 5.4 points was reported. It follows, therefore, that 1908-09 (July 1 to May 31) the arrivals were only
whereas a month ago (June 1) the current year’s con 666,316, against 750,923 in 1907-08 and 1,130,615 in
dition was lower by 5.3 points, on July 1 it is 1.8 1906-07. Including non-citizen residents returning
points ahead of last year. Compared with the 10-year from abroad (classed officially as non-immigrant
average, present condition is 2.8 points better. Har aliens), the inflow in May 1909 was 127,139, against
vesting of this crop is now in progress, and, as we indi 48,245 in 1908 and 206,033 in 1907; the five months’
cated last week, the returns in many cases are exceed aggregate reached 537,528, compared with 210,326
ing anticipations. Spring-wheat condition, according and 661,66Irrespectively,and the eleven months’ total
to the Department, stood at 92.7 on July 1, a mod was 843,693, against 883,591 and 1,267,937.
erate loss from the 95.2 of June 1, but 3.3 points better
The outward movement of aliens continues of very
than on July 1 1908. The condition is, moreover, moderate proportions, and especially as compared
5.7 points above the 10-year average. In this crop, with a year ago, when departures were in excess of
furthermore, there has been an increase in area of arrivals. For May of this year departures of steerage
6.9% . Consequently the outlook, with a satisfactory passengers from all ports of the country were only
season to harvest time, is for a yield appreciably about 25,000; for the five months of the calendar year
greater than in 1908. Combining the two varieties they reached 95,000, and for the eleven months of the
of wheat, the average condition now stands 2.6 points fiscal year 1908-09 were 342,000. These totals con
better than a year ago. It seems a fair assumption, trast with the heavy aggregates of 61,251 and 281,399
therefore, that with normal conditions hereafter the and 654,346 for the similar periods of the previous
664-million-bushel crop of 1908 will be exceeded and year. Considering this outward movement in con
a yield in excess of 700 millions of bushels secured.
junction with the inflow of aliens, we find that while in
Investigations which the Department has made into May this year there was a net gain in foreign-born
the amount of wheat remaining on farms in the United population of 102,139, in 1908 there was a net loss of
States on July 1 disclose a result in line with general 13,006 and in 1907 an increase of 176,033. The five
expectations. With crops moderate the last two sea months of 1909 provided a gain of 442,528, against
sons, an important depletion of stocks on farms could a loss of 71,073 last year and an increase of 536,661
hardly be prevented; and that idea is borne out by the two years ago; and the result for the eleven months of
report. It is estimated that 2.3% of last year’s crop, the fiscal year 1908-09 is an addition of 501,693,
equaling 15,062,000 bushels, was still in farmers’ compared with 229,245 in 1907-08 and 958,937 in
hands on that date, as compared with 33,797,000 1906-07.
bushels at the corresponding time in 1908, 54,853,000
bushels in 1907, 46,053,000 bushels in 1906, 24,257,000
Commercial failures in the United States in June
bushels in 1005 and a 10-year average of 43,608,000 1909 not only covered a lesser total of liabilities than
THE CHRONICLE
74
in May but were much smaller than in the corressponding month of either 1908 or 1907. By com
parison, therefore, the exhibit is a fairly satisfactory
one, even though the aggregate amount involved by
the failures is rather above a normal average. It is
also to be noted that the indebtedness ascribable to
speculative disasters is rather on the decline. The
total amount involved by the failures of brokers,
transporters, &c., in June 1909 was only $1,822,060,
against $3,362,688 in the month of 1908, but com
pares with a small aggregate in 1907— $660,956. In
manufacturing lines the contrast with either of the
two preceding years is favorable, June this year fur
nishing a total of defaulted indebtedness of $5,733,269,
whereas in the month of 1908 the aggregate was $5,
491,340 and in 1907 it reached $12,086,525. In the
trading division the disasters represented $5,316,018,
against $5,854,765 in the month a year ago, with the
total for 1907 $3,698,084. The mercantile mortality
in all lines for the month of June 1909 reached, accord
ing to Messrs. It. G. Dun & Co.’s compilations, a total
of only $12,871,347, against $14,708,793 in 1908 and
$16,445,565 in 1907. The results for the half-year
furnish yet more striking evidence of improvement.
The total number of failures for the six months in 1909
was only 6,831, covering $88,541,373, as against
8,709, for $124,374,833, in 1908. In 1907, of course,
the showing was much better than now, disasters
having been comparatively moderate prior to June.
The number of failures in the first half of that year
was 5,607, representing $69,568,662 of indebtedness.
The feature of the market for money this week was a
movement hence to the large interior cities of funds
that had been distributed through the week’s interest
and dividend settlements. There were, though, con
siderable amounts of foreign capital, representing the
proceeds of finance bills, which were pressed upon the
market for employment for comparatively short per
iods; the inquiry for such funds was, however, only
moderate, borrowers preferring domestic contracts
which would mature toward and beyond the end of the
year. As the result of the light inquiry for foreign
short-term loans, they were temporarily effected to
' some extent on call, contributing to the maintenance
of the low minimum of 134%- Lenders among bank
ing institutions took advantage of indications of a more
active demand for long-term funds to quote more
advantageous rates, and they accepted a larger pro
portion of industrial collateral than is customary.
Money on call, representing bank and trust company
balances, loaned at the Stock Exchange during the
week at 1 J/8% and at 134% , averaging about l% % .
All lending institutions quoted 1
as the minimum.
Time loans on good mixed and on all industrial col
lateral were easy; practically the only inquiry was for
over-the-year contracts, which were offered in large
volume at 3J4@334% on mixed and 334% on a slightly
lower grade of collateral. A guaranteed foreign-ex
change loan was placed at 334% for six months and
later a similar contract was offered at 3 % % . Shorter
fixed-date loans were apparently not wanted at any
rate; they were nominally quoted at 2% for sixty and
for ninety days,
for four and
3% for five months. The last-named maturities
would fall due in the closing months of the year, and
therefore would be less desirable than six months or
34%
2*4 @234%
2A @2/4%
[VOL, I jX X X I X .
on the eve of the new year. Commercial paper was
in moderate supply, with a good demand, and rates
were in favor of drawers. Quotations were 3@334%
for sixty to ninety day endorsed bills receivable,
334@3?4% for choice and 4% and above for good
four to six months’ single names. Textile-mill notes
were readily placed at 334%.
The Bank of England rate of discount remains un
changed at 234% . The cable reports discounts of
sixty to ninety-day bank bills in London 134@ 1/4% The open market rate at Paris is 134% aRd
Berlin
and Frankfort it is 2 ^ @ 2 )4 % . According to our special
cable from London, the Bank of England gained
£36,289 bullion during the week and held £41,109,491
at the close of the week. Our correspondent further
advises us that the large purchases in tho open market
and important imports from Egypt were largely offset
by shipments to the interior of Great Britain, leavingbut a small gain to the Bank. The details of the
movement into and out of the Bank were as follows:
Imports, £1,093,000 (of which £360,000 from Egypt,
£12,000 from miscellaneous sources and £721,000
bought in the open market); exports, £35,000 (of
which £20,000 to Guayaquil and £ 15,000 to Gibraltar),
and shipments of £1,022,000 net to tho interior of
Great Britain.
The foreign exchange market was lower. While
there was a freer movement of commodities over the
holiday, as was reported from the distributing centres
and as shown by the car statistics of the transporta
tion lines, such movement was not reflected in any
material increase in the volume of commercial bills,
probably because of their prompt absorption by
bankers in the interior. Long sterling was easy as
the result of free drawings; lower discounts abroad
were due to the termination of the half-yearly settle
ments at the European centres. After a fall there
was a partial rally in demand sterling,which was said
to have been caused by covering of cables that were
oversold in the closing days of last week; when such
covering had been effected, sight bills declined and
cables grew weak. Notwithstanding the fact that the
fall in short carried rates below the gold-export point
a coincident decline in exchange at Paris on London
appeared to make probable an export ot gold to the
French capital as an arbitration operation; gold bars
were, however, unobtainable, except in small amounts,
at the New York Assay Office, and a further decline
in short sterling, together with a rise in Paris exchange
on London, seemed to preclude the possibility of gold
shipments to Europe. While European exports of
the metal were impracticable, under the circumstances,
rates for sight sterling were favorable for a movement
to Argentina on London account, shippers being
enabled promptly to draw upon their London corre
spondents for reimbursement. The offerings of such
bills and of those that were drawn against recent
negotiations of American securities abroad contributed
to a break in short sterling on Wednesday, which was
accelerated by liberal speculative selling of exchange,
and the market was heavy thereafter. The drawing
of finance and other loan bills, that was one feature
of the week, was liberal, facilities being offered for
procuring cover therefor at the ninety-day maturity
through options of sight futures. Moreover, bankers
THE CHRONICLE
J u iiY 1 0 19 0 9 .]
were confident of an early and large export movement
of cotton which would most likely result in low rates
for exchange in September and in later months of the
year.
Compared with Friday of last week, rates for ex
change on Saturday were 5 points lower for long at
4 8660@4 8670 and unchanged for short and for
cables. On Tuesday long fell 5 points to 4 8660@
4 8665, short 15 points to 4 8790 @ 4 88 and cables 20
points to 4 8815@4 8820. On Wednesday long was
10 points lower at 4 8650@4 8660, short 15 points
at 4 8775@4 8785 and cables 5 points at 4 8795@
4 8805. On Thursday short fell 5 points to 4 8775@
4 8780 and cables 5 points to 4 8795 @ 4 88; long was
unchanged. On Friday long, short and cables were
5 points lower.
The following shows daily posted rates for sterling
exchange by some of the leading drawers.
F r l .,
J u ly 1
Brown
160 days
Brothers --------- — (Sight-.
Kidder
j 60 days
& Company___ — (Sight- Bank British
i 60 days
North America - — ISIght..
Bank of
J60 days
Montreal........ __ — (Sight..
Canadian Bank
J60 days
of Commerce__ — (Sight..
Ileldelbach, Ickolj 60 days
hetmer & Co___ __ (Sight..
Lazard
jflO days
Frercs ________ __ \Slght..
Merchants’ Bank
160 days
of Canada.......... — ISlght..
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
M o n .,
J u ly 5
T u es.,
J u ly 0
87
87
88A
88 A
87
88A
87
88A
88'A
88A
87
88A
87
88 A
87
87
88A
88A
87
88 A
87
non-
DAY.
88A
87
87
88 A
87
88A
8SA
87
88^
87
87
88A
88A
F r l .,
J u ly 9
87
87
88K
87
88 A
87
87
88K
87
88A
87
T h u rs.,
J u ly 8
W e d .,
J u ly 7
88 A
87
88A
87
88A
87
88^
87
88 A
87
88 A
87
88A
87
88A
87
87
88J4
87
88^
87
88>i
87
88A
87
88^
87
88 A
88 A
87
88 A
87
88 A
87
88 A
Rates for exchange on Friday were 4 8645 @ 4 8655
for long, 4 8770@4 8775 for short and 4 8790 @ 4 8795
for cables. Commercial on banks 4 8620@4 8630 and
documents for payment 4 85% @ 4 86. Cotton for
payment 4 85% @ 4 85%, cotton for acceptance 4 8620
@ 4 8630 and grain for payment 4 85% @ 4 86.
The following gives the week’s movement of money
to and from the interior by the New York banks.
W eek ending J u ly
Gold
9 1909.
........ ....................... ...............
R eceived by
S h ipp ed by
N . Y . R an ks. N . Y . B a n k s.
N et Interior
M o v e r a ll.
$9,267,000
2,082,000
$3,260,000 Gain $6,(5tfr,000
907,000 Gain 1,750,000
$11,349,000
$4,167,000 Gain $7,182,000
With the Sub-Treasury operations and gold exports
the result is as follows.
W eek ending J u ly
9 1909.
Into
B a n k s.
Out of
B a n k s.
N et Change In
B a n k H oldings.
Banks' Interior movement, as above.
Sub-Treas. oper. and gold exports..
$11,349,000
30,100,000
$1,167,000 Gain $7,182,000
31,400,000 Loss
1,175,000
Total gold and legal tenders..........
$41,449,000
$35,567,000 Gain $5,882,000
The following table indicates the amount of bullion
in the principal European banks.
J u ly 8
1909.
B a n k s of
England..
France__
Germany .
Russia .a .
Aus.-IIunb
Spain----Italy d__
Nctherl’ds
Nat.Belg.il
Sweden . .
Swltzcrl’d
Norway. .
J u ly
9 1908.
G old.
Sliver.
T otal.
G old.
S ilver.
£
£
£
£
£
41,109,491
148,008,520
39,121,100
125,678,000
56.391.000
15.975.000
38.519.000
10.115.000
4,334,667
4.378.000
4,754,400
1.697.000
41,109,491 37,767,608
3 5,994’,720 184,003,240 126,654,020
12,850,400 51,971,500 39.730.000
8,818,000 134,496,000 112,222,000
12.953.000 69.344.000 46.802.000
32.207.000 48.182.000 15.646.000
4,725,000 43.244.000 36.153.000
3,574,100 13,689,100 7,703,200
2,167,333 6.502.000 4,191,333
4.378.000 3.886.000
4,754,400 3.710.000
1.697.000 1.632.000
36,582,032
13.245.000
7.777.000
13.336.000
26.827.000
4.275.000
4,212,100
2,095,667
T otal.
£
37,707,608
163,236,052
52.975.000
119,999,000
60.138.000
42.473.000
40.428.000
11,915,300
6.287.000
3.886.000
3.710.000
1.632.000
Total week 490,081,178 113.289,553 603,370,731*430,097,161 108,349,799 544,440,960
Prcv. week 488,495,352 114,031,290 002,526,642 434,301,065 108,318,938 542,620,003
a The total of gold lo the Bank of Russia Includes the balance held abroad—
that Is, the amount held for Russian account In other Continental banks. The
proportion so held and consequently duplicated In the above statement Is about
one-tenth of the total this year, against about one-eighth a year ago.
h The Austro-IIungarlan Bank Statement Is now Issued In Kronen and Heller
Instead of Gulden and Kreutzcr. The reduction of the former currency to sterling
Rounds was by considering the Gulden to have the value of 80 cents. As the
Kronen has really no greater value than 20 cents, our cable correspondent In
London, In order to reduce Kronen to Rounds, has altered the basis of conversion
by dividing the amount of Kronen by 21 Instead of 20.
d The division (between gold and silver) given In our table of coin and bullion In
the Banks of Italy and Belgium Is made from the best estimates we are able to
obtain; It Is not claimed to be accurate, as the banks make no distinction In their
weekly returns, merely reporting the total gold and silver; but we believe the
division wo make Is a close approximation.
15
TREASURY FINANCES AND TARIFF
LEGISLATION.
The Treasury and financial statements for the Gov
ernment fiscal year ending June 30 are invested this
time with extra interest by reason of the pending tariff
legislation. The ostensible reason for proposing a
tax upon corporation incomes, or (according to the
House bill) a collateral inheritance tax, is that addi
tional revenue is needed; otherwise the Treasury will
be left with a yearly deficit. Of course, no one can
tell what revenue the Government will derive under
the new customs and internal revenue taxes when
finally fixed, and it is an established fact that Govern
ment revenues the last two fiscal years have been run
ning far short of Government requirements; but care
ful examination of the Government statements demon
strates very conclusively that the trouble has been
not with the receipts, though these fall considerably
below the high-water mark, but with the way
in which expenses have been allowed to run up through
excessive Congressional appropriations. The remedy,
therefore, must be sought in that direction. No taxa
tion measures, no matter what revenue they may
yield, will ever prove adequate if expenses arc to go
on increasing indefinitely. This truth cannot be
driven home with any too much force.
The form of the Government statements has been
considerably changed, and under the changes the true
relation between ordinary revenues and ordinary out
goes is clearly brought out. The statements now dis
tinguish sharply between these ordinary revenues and
expenses and the outlays on the Panama Canal and
operations of the national bank redemption fund.
Under the Act of July 14 1890 the deposits made by
the national banks for the purpose of retiring circula
tion are treated as part of the general cash in the Treas
ury. When the deposits by the banks are large and
the notes which the fund is supposed to retire come in
slowly, the effect is to add greatly to Treasury cash.
Vice versa, if the deposits are relatively small and re
tirements on old-account are large and rapid, the effect
is to diminish Treasury cash. This latter was the
situation during the late fiscal year, for the amount
'to the credit of the national bank redemption fund
was reduced from $72,459,284 to $28,518,941, show
ing that payments exceeded the additions in amount
of almost $44,000,000— in exact figures, $43,940,343.
The large excess payments on account of the banks
came along with the ordinary deficit to add to the
perplexities of the Treasury officials.
These operations on account of the national bank
redemption fund are obviously independent of and
have absolutely nothing to do with the ordinary current
operations of the Government. Secretary MacVeagh,
in recasting the Treasury statement, has succeeded
in emphasizing this distinction. He also separates
the expenditures on account of the Panama Canal,
which are a special and exceptional outlay, from the
ordinary expenditures of the Government. Includ
ing the operations on account of the national bank note
redemption fund and the payments on account of the
Panama Canal, the Treasury outgoes exceeded the
Treasury ingoes in amount of over $130,000,000.
The expenditures on account of the Panama Canal
were $31,420,286, and eliminating these, and bank note
redemption transactions, the actual deficit for the
76
THE CHRONICLE
twelve months, on the basis of the ordinary operations
of the Treasury, is seen to have been 155,039,843. In
the previous fiscal year the deficit, with the Panama
expenditures included, was $58,070,201, and the deficit
without those expenditures only $19,976,272. Thus,
the defioit outside of the Panama outlays was in
creased over $35,000,000 in the latest year (rising from
$19,976,272 to $55,039,843).
The fact to which we wish to direct special attention
is that increase in the Treasury deficit is not due, as
might perhaps be supposed, to any falling off in reve
nues. On the contrary, aggregate revenues in 1908
09 were actually several million dollars larger than for
1907-08. Certain items of revenue suffered a decrease,
but the grand aggregate was $604,432,847, as against
$601,126,119. Obviously, therefore, the increase in
deficit has been entirely due to an expansion in the
disbursements. Excluding the Panama Canal ex
penditures, the ordinary Government disbursements
reached $659,472,690 in the latest year, against $621,
102,391 in the year preceding. Including the Panama
outlays, the total of the expenditures was $690,892,
976, against $659,196,320.
If we go further back, the contrast becomes still
more striking and the part played by augmenting
expenditures in creating the yearly deficit yet more
noteworthy. We have just shown that Government
revenues in the late year improved over $3,000,000.
We may go further, and say that, with the exception
of 1906-07, they were the very largest ever reached.
As compared with that year, however, when the reve
nues vyere of extraordinary extent, there has been a
loss of $58,707,487. But even this big loss would
have left the Government with ample income if it had
not been for the tremendous additions to expenditures;
for in the year in question the Government statement
had shown a surplus on the operations of the twelve
months in the sum of $84,236,586. With no aug
mentation in expenditures, the effect of the reduction
of $58,707,487 in revenues would have been merely
to cut the surplus of $84,236,586 in 1906-07 down to
about 25)^ million dollars in 1908-09. This, too, would
have allowed in full for the Panama disbursements.
Instead of expenses remaining stationary, however,
as they well might have in view of the prodigious
previous increase, they ran up during the two years
from $578,903,748 (including Panama outlays) to
$690,892,976.
Think of an addition to the annual expenses of the
Government in two years of 112 million dollars.
As a matter of fact, the Government is now spending
more each year than it was during the time it was
carrying on war with Spain for the liberation of
Cuba. In 1898-99, when the war expenditures
reached their height, the aggregate disbursements of
the Government, both normal and abnormal, amounted
to $605,072,180, while for 1908-09, with no exceptional
outlays exoept the $31,420,286 for the Panama
Canal construction, the aggregate of the Government
expenditures was no less than $690,892,976.
To furnish a yet more impressive indication of the
trejnendous augmentation that has occurred within
a decade in the cost of government, we reproduce
here a little table published by us twelve months
ago, with the figures for the latest year added. The
table shows the expenditures under the different
heads for the last two years and also the amounts
[VOL. LKXXIX.
for 1896-97, which latter was the year before the
Spanish-American War.
--------- Fiscal
U' S. Government
Expenditures.
Years ending June
1 9 0 8 -0 9 .
$
1 9 0 7 -0 8 .
$
3 0 '-------- -
1 8 9 6 -9 7 .
$
C iv il & m i s c e l l a n e o u s -1 8 0 ,4 3 8 ,5 7 5
1 7 2 ,4 9 6 ,8 3 6
9 0 ,4 0 1 ,2 6 8
W ar
1 3 9 ,9 2 6 ,9 6 1
4 8 ,9 5 0 ,2 6 8
________________________ 1 6 4 , 1 0 0 , 2 4 2
3 1 ,4 2 0 ,2 8 6
3 8 ,0 9 3 ,9 2 9
______________________ 1 1 5 , 9 8 8 , 8 6 9
1 1 8 ,7 8 0 ,2 3 3
3 4 ,5 6 1 ,5 4 6
1 4 ,5 7 9 , / 5 6
1 3 ,0 1 6 ,8 0 2
P anam a
N avy
C a n a l ___________
I n d i a n s _____________________
1 5 ,4 5 1 ,0 0 9
P e n s i o n s ___________________ 1 6 1 , 6 8 9 , 4 2 3
I n t e r e s t ____________________
2 1 ,8 0 4 ,5 7 2
T o t a l ____________________6 9 0 , 8 9 2 , 9 7 6
---------
1 5 3 ,8 9 2 ,4 6 7 1 4 1 ,0 5 3 ,1 6 5
2 1 ,4 2 6 ,1 3 8
6 5 9 ,1 9 6 ,3 2 0
3 7 ,7 9 1 ,1 1 0
3 6 5 ,7 7 4 ,1 5 9
The foregoing tells the story of the country’s
inordinate expenditures in a graphic way. We are
spending more on our navy, more on our military
establishment, more for pensions and more for prac
tically everything else except interest on the public
debt. The War Department used up $164,100,242 in
the latest year, against only $48,950,268 twelve
years before; the Navy Department spent $115,
988,869, against only $34,561,546, while the civil
and miscellaneous expenditures reached $180,438,575,
against $90,401,268. The grand aggregate of ex
penses for 1908-09 amounts to $690,892,976, against
no more than $365,774,159, being an addition for
the twelve years in the tremendous sum of $325,000,
000. It is to reduce these extraordinary outgoes
that our legislators must address themselves rather
than cast about for new sources of revenue.
It is a gratifying fact that at the end of the twelve
months, after the deficit of $86,460,129 and the large
payments on account of the National Bank Redemption
Fund, the Treasury still holds an abundance of available
cash, even though this balance has been greatly
reduced. One other circumstance besides the facts
mentioned served to reduce Treasury cash during
the twelve months. At the time of the panic of 1907,
it will be recalled, the Government put out some
one-year 3% certificates of indebtedness. On June 30
1908 the amount of these certificates still outstanding
was $14,186,500. During the year under review
all these certificates were redeemed. On the other
hand, during the year $30,000,000 more of 2% Panama
Canal bonds were put out. The result of these two
changes is that the aggregate of the interest-bearing
debt during the twelve months was increased from
$897,503,990 to $913,317,490. Treasury cash, as
already indicated, was greatly reduced. The net
debt of the United States, after allowing for cash in
the Treasury, was on June 30 1909 $1,023,861,530,
as against a net debt of $938,132,409 on June 30
1908, showing an increase of $85,729,121, which
corresponds very closely with the excess of Government
expenditures over Government receipts for the twelve
months, the difference being explained by the fact
that the Government realized a premium of $731,008
on its sale of the Panama 2s.
What is known as available cash balance was
reduced during the twelve months from $239,557,993
to $124,453,841. At the latter figure it appears to be
still ample for all current needs. This seems par
ticularly true when the fact is recalled that the
available cash balance is always made up so as to
show what remains over and above all current lia
bilities and over and above the $150,000,000 gold
reserve fund. The Treasury reduced its deposits
with the national banks during the twelve months
J u l y 1 0 19 09 .)
THE CHRONICLE
from $165,219,315 to $74,698,615 and its money
holdings June 30 1909 (including the $150,000,000
gold reserve) were $300,341,525, against $339,612,920
on June 30 1908.
77
„ „
J
..
.
A m o u n t H eld .
Railroad stocks and b o n d s __________________ ;_______________ 4 8 4 5 , 1 1 5 , 6 7 4
Real estate m ortgages________
502,185,154
Loans on p o lic ie s __________________________________________
185,872,920
Other bonds and stocks__________________
1 3 1 , 1 1 1 828
Real e s t a t e ------ --------- . . . . . . . . .
-------------------------------------93,948,411
State, cou nty and municipal bon d s____________ _ ___
_
49,489,615
C a s h ------------------- - - - - -----------------------------------------------------------46,161,162
Loans on collateral____________________
34 044 1 5 4
559,873
M iscella n eou s.....................
T otal.............................................................. ................... ...............-41,889,088,810
LIFE INSURANCE INVESTMENTS
GEOGRAPHICALLY CONSIDERED.
Issue of a pamphlet from the office of the Asso
ciated life Insurance Presidents on the geographical
distribution of the investments of life insurance
companies recalls to mind that it must now be some
quarter-century since the cashier of a bank in the
Northwest wrote to the “ Chronicle,” in some alarm,
because the life insurance companies (at that time
small, compared with their growth since) were “ locking
up” so much money. Although natural upon a mere
superficial glance, the alarm was without just cause,
the sufficient answer being that no locking up was
occurring or liable to occur. Aside from the tem
porary times of panic, money is not locked up; self
interest prevents, and the first rule of finance is that
the idle time of capital must be kept down to the
minimum, as being wasteful.
Nowhere is this rule quite so fundamental as in
life insurance. Much which comes in is offset imme
diately by what goes out; what accumulates for the
present is put out at interest as soon as possible
and returns to circulation. Half a century ago the
law in New York restricted mortgage loans by life
companies to property in this State, or outside but
within 50 miles of this city. Such crude and narrow
notions die out slowly. That money should be kept
at home instead of being paid to “ foreign” companies,
which carry it away and use it for fructification of
distant States has been the stock argument for found
ing or insuring in “ home” companies; it has no sub
stance, since money goes to the best market (in the
absence of interfering statutes), yet this plea has a
specious sound and has been influential in stimulating
organizations.
Perhaps there is loss obvious unreason in the claim
that some sections distant from the financial centres
do not receive their fair share of insurance invest
ments. At least, the regulative fury of the last few
years could not pass the subject by. In fifteen States
there has been discussion over requiring local invest
ment of the reserves on business written within the
respective States, and one State— Texas— enacted,
two years ago a law requiring 75% to be invested
there. Notwithstanding some companies had already
placed in Texas as much as that and one or two had
gone beyond 100%, they felt that they must make
a stand upon controlling so vital a detail of business
and a large number of them promptly left the State.
Yet while only a single State has legislated thus far,
the tendency is plain and the regulative habit has
rushed even into absurdity; in making a careful
analysis of the present geographical distribution of
investments, the Associated Presidents have acted
wisely and none too soon. Fourteen companies are
included, located in seven States and holding over
two-thirds of the total assets owned by life compa
nies in the United States, so that we can treat the
review as covering the entire field for this particular
topic. The distribution of assets by classes is worth
reprinting in full:
In passing,the fact that the life companies alone
have 845 millions invested in railroads, about 45%
of their total assets now held, against over 10 billions
of insurance, reminds us anew that the war upon trans
portation companies has unwittingly been an attack
upon the foundations of the industrial and social struc
ture of the country; for the figures of distribution (of
which the 845 millions are only one portion) show
that railroads are not, as the attack seems to assume,
made and owned in Wall Street.
The pamphlet contains an unusual map, “ the com
mercial circulatory system of the United States,”
divided into eight groups or sections, according to
the distribution of railroads. Now England forms
one section; the Middle Atlantic takes New York,
Pennsylvania, and south to Virginia; the South At
lantic group includes Virginia, the Carolina^, Georgia
and Florida; the Gulf and Mississippi Valley covers the
four States between the two great rivers, also Louisi
ana; the Central Northern takes the five great States
adjoining the Great Lakes; the Southwestern, North
western and Pacific groups embrace the rest of the
belt across the continent. The lines representing rail
roads are thickest, on the map, in the Central Northern,
comprising the five States bordering on the Lakes,
and in that part of the Northwestern group which
touches the Mississippi and Missouri rivors.
In making the analysis (which involved separate
computations for over 800 bond issues) the railroad
securities have been “ credited” to each State according
to the mileage actually within such State, and when
bonds are secured by only a portion of the mileage
of a road they have been assigned to the particular
mileage covered.
Taking all investments together, the following con
trast appears of the ratios of investments within each
section to the reserves on policies in that section, and
the ratios of the premiums annually paid by each
section to the total premiums of the companies:
R a tio o f
I n v e s tm e n ts
to R e s e r v e s .
Northwestern - ______
204
Middle A tlantic_________________ 163
Southw estern________
124
P a c ific ___________________________ 123
Central N orthern________________ 114
.South A tlantic___________________i l l
Gulf and Mississippi V alley_______98
New E ngland..............................
62
R a tio o f
P r e m iu m s to
T o ta l P r e m iu m s .
Middle A tlantlo_______________ 42.66
Central N orth ern _____________ 19.01
New E n gla n d _________________ 9.84
S ou th w estern _________________ 8.59
Gulf and Mississippi V alley____ 6.39
South A tla n tlo ________________ 5.27
P a c i f i c ________________________ 4 .2 6 '
N orthw estern_________________ 3.98
The point here is that the investments in the sec
tions do not tally with the contributions of the sections,
as shown by the difference in the order as respects the
two different ratios. The Northwestern group, lying
west of the Mississippi River and north of the State of
Missouri, has the largest ratio of funds invosted there
but contributes least to the fund; it stands at the head
in the one place and at the foot in the other, so that
this contrast alone should be enough to dispose of the
charge that any unfairness has been shown in making
investments. The Middle Atlantic group contributes
most and stands second as borrower. 1%} Central
Northern ranks second as contributor and fifth as
borrower. New England ranks third as contributor
and is at the foot as borrower.
This is exactly, as a little reflection shows, must
naturally 1x3 the case. The growing and developing
78
sections are borrowers, and for the same reason their
people are under a temptation to not carry so much
life insurance, personally, as do those where demand
for capital is locally less active. Loans on policies
are a strictly individual matter, and therefore they are
limited by the insurance in force, so that a section of
small insurance could not have large loans on this
security. In general, loaning requires borrowers; as
a section develops and approaches the never quite
realized state of completeness, the demand for loans
from the outside naturally decreases; at the same
time (and for the same reason) the volume of life in
surance carried and the reserves thereon will increase.
In other words, while the total of life insurance invest
ments can increase in a given section, the ratio of in
vestments by outside companies to the reserves held
must decrease; as these sections grow in wealth, more of
their citizens become lenders instead of borrowers
and have less use for outside capital.
It is impossible to distribute the investments of
companies “ impartially” over the country, or to allot
proportionate shares to each corner from which re
ceipts are drawn. The borrower's and the sound se
curity do not so present themselves, and no statutes
could make such a uniform allotment possible, unless
safety were abandoned. There is very little to con
nect the underwriting and the investing departments.
As the pamphlet before us aptly puts it, “ life insurance
must be written where there is a demand for it, re
gardless of the borrowing ability of that community;
investments must be made where there is a demand
for loans at good interest rates by those who have
adequate security to offer, regardless of the needs for
life insurance.”
The demonstration that no “ discriminations” have
been used is complete, and here we may note the fact
that the recent visit of the President of the New York
Life to the Pacific section was partly for the purpose
of studying it as an investment field and that he re
turned very enthusiastic about its possibilities for the
future. We may all of us be enthusiastic about the
entire country, provided the restless desire to pull up
one’s self by statutes which aim to re-distribute things
and create advantages by ostensibly rubbing out dis
advantages can be abated. The great lesson is that
we ought to let things alone; to believe— and to behave
accordingly— in the power of the individual energy,
under open competition, which has developed the
United States out of the former wilderness.
RAILROAD GROSS EARNINGS FOR JUNE.
Comparison being with very poor results last year,
returns of railroad earnings continue very good, in so
far as they show very decided improvement over these
poor results in 1908. The fact which must ever be
kept present in judgifig of the significance of this im
provement is that the recovery now recorded repre
sents only a part of the heavy losses sustained in 1908.
The compilation which we present to-day appertains
to the month of June and covers merely the roads which
make it a practice to furnish early preliminary esti
mates of their gross revenues. The number of such
roads is never large, and the present time two or three
of those ordinarily included are missing, since less than
ten days have elapsed since the close of the month.
However, our aggregates embrace 77,478 miles of
line, or fully one-third of the railroad mileage of the
[VOL. L X X X I X .
THE CHRONICLE
country, and this ought to furnish a pretty clear
indication of the showing for the railroad system as a
whole.
In brief, for the 77,478 miles of line for which we
have secured returns, there is a gain over the corre
sponding month in 1908 of $4,737,537, or 10.45%.
This is satisfactory as far as it goes, but its significance
is obviously diminished by the extent of the preced
ing loss. In June of last year earnings were exceed
ingly poor. General trade was at its lowest ebb, with
intense depression prevailing everywhere. Moreover,
aside from the industrial paralysis existing, the roads
had other adverse circumstances and conditions to
contend with, some of them rather exceptional in
character. Thus, in the Southwest, and indeed in a
good portion of the whole territory west of the Mis
sissippi and Missouri rivers, the roads suffered from
excessive rains and overflows, the tracks in the vicinity
of Kansas City for many miles west being under water
a good part of the time, interrupting freight operations
and making the running, even of passenger trains,
possible only with great difficulty and after long de
lays. The trouble at that time also extended north
ward into Montana and the territory of the Northern
Pacific Railroad.
With such a combination of unfavorable conditions
last year, the falling off in earnings was inevitably
of large proportions. Our early statement for that
month covered 78,614 miles of road, and showed a
loss of no less than $12,284,972, or 20.89%. The pres
ent year some of the streams in Colorado the latter
part of the month overflowed, owing to the melting of
the snow in the mountains, the snowfall during the
winter having been of unprecedented extent; but other
wise meteorological conditions were far better than in
1908. Nevertheless, the gain in earnings now, as
we have seen, is only $4,737,537, or 10.45%. This
serves to indicate how far we are from having got back
to normal conditions. In the following we show the
June comparisons, as disclosed by our early compila
tions, for each year back to 1897.
The table serves
to bring out the fact that prior to 1908 the record had
been one of almost continuous growth in earnings,
only one year having shown a decline, and that vci^
slight.
__________________________
G ross E a rn ing s.
M ilea g e.
J u n e.
Y ea r
G iven.
Y ea r.
1 8 9 7 --
1 8 9 8 --
1899 - - .
1 9 0 0 ...
1901 . -
1902 . . .
1903 . . .
1904 - - .
1905 - -
1 9 0 6 ...
1907 - -
190S
1909 —
Roads M iles.
115
125
117
107
97
81
71
69
58
67
66
51
50
90,703
97,221
98,375
95,337
97,010
85,554
95,013
86,085
81,192
92,655
93,854
78.614
77,478
Y r. pre I n
ceding. crease .
M iles.
90,139
96.213
02,266
93,004
94,048
83,996
93,013
83,568
79,345
90,469
92,803
77.214
76,232
%
0.62
1.05
6.60
2.51
3.15
1.85
2.15
3.01
2.32
2.41
1.13
1.81
1.63
Y ea r
G iven.
S
36,558,554
42,217,558
46,170,085
50,104,955
51,573,897
50,238,273
61,930,417
54,682,684
54,139.005
72,708,902
82,467,700
46,515,402
50,036,163
Y ea r
P recedin g.
$
36,251,840
39,035,817
40,480,015
46.051,607
47,975,122
46,882,292
54.315.9S2
55.193.667
50,961,404
04,205,232
72,923,083
58,800,434
45,298,620
Increa se
or
D ecrease
(4*)
(-
$
+306,714
+ 2,581,741
+ 5,690,070
+ 4,053,318
+3,598,775
+ 3,355,981
+7,014,435
— 510,983
+3.177,541
+ 8,503,670
+9,544,023
— 12.284,972
+ 4,737,537
0.84
6.51
14.05
8.80
7.50
7.16
14.02
0.92
6.23
13.24
13.08
20.89
10.45
N o te .— Neither the earnings of the Mexican wads not fcho mining operations
of the anthracite coal roads are Included In this tame.
Doubtless the showing would have been better the
present year except for the circumstance that both the
Western grain movement and the Southern cotton
movement fell below that of the previous year. At the
Western primary markets the receipts of wheat, not
withstanding the exceptionally high prices prevailing,
reached only 5,321,511 bushels in the four weeks end
ing June 26 this year, against 8,148,333 bushels in
the corresponding four weeks of last year; and tliejreceipts of corn 12,899,475 bushels, against 14,080,577
bushels. The receipts of oats and barley ran heavier
than in 1908, but nevertheless, if we combine wheat,
corn, oats, barley and rye, we find that the deliveries
of the five cereals in the four weeks ending June 26
1909 aggregated only 32,951,993 bushels, as against
34,294,962 bushels in the same period of last year.
The following gives the details of the Western grain
movement in our usual form:
WESTERN GRAIN RECEIPTS.
lug June 26.
Chicaqo —
W heat.
(bush.)
F lo u r.
(bbls.)
C orn.
(bush.)
Oats.
(bush.)
B a rley.
(bu sh .)
R ye.
(b u sh .)
470,340
S76|556
86,400
402,688
7.554,700
8,833,491
0,671,750
5,057,904
1,679,500
1,099,800
69,000
68,000
194,280
1909
1 9 0 8 .............. 215.200
343,200
518,000
528,800
204,000
870,000
724,800
354,800
616,800
50,000
63,900
115,060
163,250
192,182
542,799
1,529,435
2,498,705
937,900
1,614,775
23,400
46,800
5,000
2,423
1,000
10,000
3,500
1909
1908...... .........
1909
1908_________
........
1909
1908...............
.......
88,500
197,800
1909.......... - - -
3,929
14,600
124,974
138,035
139,941
250,954
150,928
139,351
1909_________
1908........ .......
3,299
4,050
10,409
84,504
449,278
358,847
490,509
262,259
33,750
8,529
1909................
1908................
152,350
57,700
34,000
40,000
910,027
1,058,300
592,500
770,500
138,000
66,000
29,000
14,000
480,750
208,200
176,480
977,670
185,404
f c ...........
160,025
101,900
169,905
3,425
8,674
1,270
3,842,500
4,577,980
1697,080
| 241,180
768,200
B 672,100
996,230
257,940
77,636
78,510
416,800
068,857
719,410
234.700
352,500
268,500
D ulu th —
1909_________
1908................
M in n ea p olis —
1909_________
190S................
K a n sa s CU y —
1909..............
1908................
___
___
...........
278,800
400,400
93,800
141,000
1,000
5,321,511 12,899,475 11,094,112
8,148,333 14,080.577 9,753,149
.8,396,585
2,099,294
250,310
231.609
As regards the cotton movement in the South, the
shipments overland for the full month in 1909 were
only 64,129 bales, against 79,061 bales in 1908, and
the receipts at Southern outports were but 175,885
bales, against 237,892 bales, as will be seen by the
table we now annex.
RECEIPTS OF COTTON AT SOUTHERN PORTS IN JUNE, AND FROM
JANUARY I TO JUNE 30 1909, 1908 AND 1907.
----------- S in ce J a n u a ry 1----------— J u n e—
1908.
1907.
1909.
1908.
1907.
1909.
P o rts —
31,810 1,194,089 1,088,886 1,603,836
75,637
Galveston___ bales. 61,786
104,263
82,453
232,159
253
Port Arthur, &0 -- . . 15,337
942,021
897,383
865,419
31,438
74,227
New Orleans........ . . 46,187
82,289
107,350
131,791
4,015
9,975
Mobile____ _____ - . 5,978
74,336
74,790
83,556
4,126
1,986
Pensacola, A c------ . . 5,254
397,644
400,934
371,289
22,397
19,031
Savannah ---------37,577
64,588
66,068
Brunswick----------- . . 3,622
106,871
75
30,650
Charleston____ ... . 1,829
5,282
61,650
35,447
380
402
562
15
191
1,291
50
71,784
Wilmington______ . . 1,240
129,590
10,389
114,116
1,033
225,822
N orfolk................ . . 11,685
22,561
187,473
11,605
202,285
31,810
555
67
3,278
13,880
1,737
Newport News, Ac „
__
m
ia,Total_________ ..175.885
237,892
107,694
3,408,041
3,043,028
3,629,445
As far as the separate roads are concerned, we are
sure to encourage misleading inferences if we do not
consider the 1909 gains in conjunction with the 1908
losses. These gains look small alongside these ante
cedent losses. A few instances will suffice for illus
tration. The Great Northern the present time heads
the list of gains with an improvement of $980,571, but
this follows a loss of no less than $1,554,304. Even
the Canadian Pacific, which previously had been ex
celling its best records, has a gain of only $896,000, as
against a falling off of $1,359,712. For the Missouri
Pacific, the present increase of $441,000 contrasts with
a shrinkage last year of $724,319. The Southern
Railway has a gain of only $149,213 after a contraction
in June 1908 of no less than $768,360, and the increase
of the Louisville & Nashville is no more than $84,653,
after a loss of $480,461. The Texas & Pacific has re
covered only $144,053 of its loss of $406,715. We now
bring together all changes for the separate roads (as
compared with last year) , whether increases or de
creases, for amounts in excess of $35,000. It will be
observed that the Central of Georgia is the only road
having a decrease above that figure, and that road
was about the only one in the South which, when con
ditions were so bad in 1908, recorded an increase.
P R IN C IP A L C H AN GES IN
GROSS E A R N IN G S IN
JU N E .
In crea ses.
In crea ses.
Great Northern (2 )______ $980,571 Duluth So Sh A A tlantic. $73,388
Canadian P a c i f i c _______
896,000 Colorado A S outhern____
56,262
Chesapeake A Ohio
..
449,219 St Louis Southwestern___
50,922
Missouri Pacific (2) _____
441,000 Minneapolis & St L ouis___
47,787
Denver & R io Grande____
271,100 Cine New Orl A T ex P a c. _
j/46,696
Buffalo R och A Pittsburgh
205,503 Y azoo A Miss V alley____
45,032
Illinois Central _
.
192,549 Chicago Ind A Louisville.
42,511
Minn St Paul A S S M ___
158,613 Kansas City Mex A Orient
j/35,467
W abash__________________
152,104
----------------Southern R ailw ay______
149,213
Representing 27 roads
Texas A P a c i f i c _________
144,053
In our com pilation_____ $4,738,442
Canadian Northern . . . .
130,600
D ecrea ses.
Grand Trunk (4)
.. ..
85,199 Central of Georgia_______
$71,500
Louisville A N ashville____
84,653
N o t e .— Figures In parenthesis after name of road Indicate number of lines
or companies for which separate returns arc given In our com pilation.
V These fig .res are for three weeks only.
To complete our analysis, we furnish the following
six-year comparison of the earnings of leading roads,
arranged in groups according to their geographical
location.
EARNINGS OF SOUTHERN GROUP.
1909.
J u n e.
1907.
1908.
1906.
1904.
1905.
jl S
S
7345,182
317,083
S
260,886
Ala Gt South..
Ala N O A T P
237,665
180,277
NO A N E -.
6213,866 7211,866 7256,996 7264,498
99,631
90,687
Ala A Vicks. 6103,172 7109,172 7121,201 7108,572
98,124
102,280
Vicks Sh A I1 6102,444 rl06.444 7127,383 7113,246
107,782
88,079
154,783
55,890
Atl B’ham A A rl57,143 7134,566
849,259
750,956
668,383
785,927
Cent of Georgia 7740,300 7811,800
Ches A Ohio.. 72,3/2,644 71,923,424 2,430,680 2,196,555 1,846,555 1,737,716
621,706
573,886
751,077
Cln N O A T P 6640,340 7593,644 7788,613
I oulsv A Nash 73,510,3 0 5 73,425,652 3,906,113 3,649,881 3,165,403 2,981,871
699,262
810,292
027,206
Mobile A Ohio. 7724,171
7722,807 r931.151
Southern Ity__ 73,990,158 73,840,945 74,609,305 4,293,570 3,829,072 3,487,550
564,771
716,16S
564,347
733,867
Yazoo A M Val a604,990 a619,95S
S
6294,221
S
7289,709
$
271,938
5,191,201 14,178,583 12,276,894 11,327.247
T o ta l........... 13,513,754 12,789,987
Includes some large Items of Income not previously Included In monthly returnsFourth week not yet reported; taken same as last year.
r These figures are on the new basis of accounting prescribed by the Inter-State
Commerce Commission.
EARNINGS OF SOUTHWESTERN GROUP.
a
b
T otal o f all —
1909................ 1,420,008
1908................. 1,299,550
79
THE CHRONICLE
J u l y ] 6 1909.1
1909.
J u n e.
1908.
1907.
1904.
1905.
1906.
S
$
S
S
S
S
906,441
625,750
999,188
Colo A South*. 71,131,562 rl.075,300 71,160,268
Dcnv A Rio Gr 71,845,000 rl ,573,900 r l ,940,936 1,782,453 1,542,372 1,400,169
414,996
451,900
548,288
622,380
Int A Gt North 7574,000 7555,500
Missouri Pacific
and Cent Br. 3.748.000 3,307,000 4,031,319 3,604,902 3,318,150 3,232,653
557,898
699,458
725,985
St Louis S W ..
7789,085 7738,163 7815,152
739,424
818,996
Texas A Pacific 7985,486 7841,433 rl ,248,148 1,001,517
T o ta l_____
9,073,133 8,091,296 9,818,203 8,662,333 7,737,317
6,970,890
* For 1909, 1908, 1907, 1906 and 1905 Includes all affiliated lines except Trinity
A Brazos Valley Rlt. For 1904 we have combined Colorado A Southern and Fort
Worth A Denver City.
r Figures are on the new balss of accounting prescribed by the Inter-State Com
merce Commission.
EARNINGS OF NORTHWESTERN AND NORTH PACIFIC GROUP.
1909.
J u n e.
Canadian Pac.
Chic Gt West *
Dul So Sh A At
Great Nor Syst
Iowa Central..
Minn A St L__
M St 1> A S S M
1907.
1908.
1904.
1905.
1906.
S
$
$
S
$
$
6,354,000 5,458,000 6,817,712 5,477,351 4,430,028 4,416,865
615,979
690,367
713,311
7662,133 7635,073 7718,330
228,275
255,036
276,257
7280,151 7206,763 7305,501
4,637,753 63,657,182 5,211,486 4,673,832 3.752,166 3,120,343
199,026
242,062
226,927
7234,734 7221,595
234,536
240,593
311,244
326,671
7336,054 7288,267 7352,128
651,829
790,849
987,092
828,479 1,159,790 1,015,698
T o ta l.......... 13,491,917 11,295,359 14,799,483 12,725,182 10,382,229 9,457,298
* Results are based on 111 miles less road beginning with 1905.
b Actual figures of earnings arc now used for comparison.
r Figures are on new basis of accounting prescribed by the Inter-State Commerce
Commission.
EARNINGS OF MIDDLE AND MIDDLE WESTERN GROUP.
J u n e.
1909.
1907.
1908.
1904.
1905.
1906.
$
688,830
Buff Roch A P
444,649
Chic Ind A Lou
Gr Tr of Can.]
Gr Tr West i 63,506,056 3,420,857 3,828,780 3,559,500 3,179,582 3,141,906
D O 11 A MJ
Illinois Central a4,553,482 a4,360,933 4,882,894 4,300,388 4,110,694 4,024,226
110,043
108,171
100.956
129,556
778,986 7106,998
Tol Poor A W .
287,746
338,196
345,910
377,177
7265,677 7284,516
Tol St L A W .
Wabash ____ 72,299,572 72,147,468 2,493,795 2,321,341 1,934,838 2,028,040
8
7758,388
7467,137
S
7882,458
7502,232
S
7552,885
7424,626
S
491,190
498.956
$
736,034
494,703
T o ta l.......... 11.929,298 11,298,283 13,096,892 11,618,241 10,902,218 10,725,440
Embraces some large Items of Income not previously Included in monthly returns
6 Includes Canada Atlantl^beglnnlng with October 1904.
r Figures are on the new b'asls of accounting prescribed by the Inter-State Com
merce Commission.
a
GROSS E A R N IN G S AND M ILE AG E IN JU N E .
M il e a g e .
G ro s s E a r n i n g s .
N a m e o f R oad.
Alabama Great South
Ala N O A Texas Pac
New Orl A North E
Alabama A V lcksb.
Vicks Shrevc A Pac
Atlanta Blrm A Atlan
Bellefonte Central____
Buffalo R och A P itts.
Canadian N orthern__
Canadian P acific_____
Central of Georgia. .
Chesapeake A O hio.
Chicago A A lton _____
Chicago Great W est .
Chicago Ind A Loulsv
Cln N O A Texas P ac.
Colorado A Southern.
In c. ( + ) or
D e c . (— ).
1909.
1908.
1909.
1908.
S
1/188,346
S
1/183,834
$
+ 4,512
309
309
1/140,000
1/66,000
1/60,000
157,143
5,060
758,388
805,000
6,354,000
740,300
2,372.644
951,028
602,133
467,137
f/447,982
1,131,562
1/137,000
1/72,000
1/64,000
134,566
6,069
552,885
674,400
5,458,000
811,800
1,923,425
956,018
635,073
424,626
1/401,286
1,075,300
+ 3,000
— 6,000
— 4,000
+ 22,577
— 1,009
+205,503
+ 130,600
+ 896,000
— 71,500
+449,219
— 4,990
+ 27,060
+ 42,511
+ 46,696
+ 56,262
196
143
171
642
27
568
3,224
9,426
1,915
1,896
998
818
616
336
1,953
196
143
171
571
27
568
2,874
9,230
1,913
1,839
1,005
818
617
336
1,950
THE CHRONICLE
80
G r o s s E a r n in g s .
N a m e o f lio a d .
1009.
Detroit & M ackinac.
Ann A rb or.
Grand Trunk of C an.
Grand Trunk W est
Det Gr H av & MU.
Canada A tla n tic..
Great N orth ern .-----Eastern of M ln n ..
Montana Central. .
Illinois C e n tra l-------Iowa Central.
M anlstlque____
Mineral R ange.
M obile & O hio.
Texas C en tra l. .
Texas & Pacific.
W abash
l
1
r
e
1
t
t
-
.
Mexican R ailw ay.
1908.
M ile a g e .
In c. ( + ) or
D e c . (— ).
1909.
1908.
$
1,845,000
96,177
f/76,507
1/105,636
280,151
161,860
$
1,573,900
87,747
1/75,637
1/97,175
206,763
137,595
$
+ 271,100
— 1,570
+ 870
+ 8,461
+ 73,388
+ 24,265
2,561
348
438
300
593
395
2,546
344
486
300
592
395
3,506,056
3,420,857
+ 85,199
4,528
4,528
6,960
6,663
4,637,753
3,657,182
+ 980,571
4,553,482
574,000
234,734
1/74,147
3,510,305
4,477
66,026
336,054
987,092
3,634,000
114,000
724,171
43,666
42,573
789,085
3,990,158
1/47,619
985,486
78,986
265,677
2,299.572
664,990
4,360,933
555,500
221,595
1/38,680
3,425,652
6,235
68,786
288,267
828,479
3,211,000
96,000
722,807
27,786
51,988
738,163
3,840,945
1/38,299
841,433
106,998
284,516
2,147,468
619,958
+ 192,549 4,519 4,594
+ 18,500 1,159 1,159
+ 13,139
558
558
+ 35,467
656
543
+ 84,653 4,388 4,365
— 1,758
73
73
— 2,760
129
127
+47,787 1,027 1,027
+ 158,613 2,394 2,394
+ 423,000 6,101 6,091
+18,000
388
388
+ 1,364 1,098
926
+ 15,880
164
184
— 9,415
180
180
+ 50,922 1,470 1,470
+ 149,213 7,055 7,014
+ 9,320
268
268
+ 144,053 1,885 1,885
— 28,012
248
248
-1 8,8 39
451
451
+ 152,104 2,515 2,515
+45,032 1,371 1,371
50.036,163
45,298,626
+ 4,737,537 77,478 76,232
n eluded In to tal)
592,956
3
647,998
681,586
593,759
1/420,100
1/431,200
1/70,001
1/76,734
3,877,866
4,201,802
+ 55,042
— 87,827
+ 11,100
+ 6,733
+ 323,936
736
918
321
263
5,273
736
918
321
263
5,165
CHANGES IN TEXT OF PROPOSED CORPORATION
TAX LAW.
[VOL. IiXXXIX.
(2) All losses actually sustained within the year In business conducted
by it within the United States or Territories, Alaska or the District of
Columbia not com pensated b y Insurance or otherwise, Including a reason
able allowance for depreciation of property. If any, and In the case of
Insurance com panies tne sums required b y law to be carried to premium
reserve fund;
(3) Interest actually paid within the year on Its bonded or other indebt
edness to an am ount of such bonded and other Indebtedness not exceeding
the proportion o f Its paid-up capital stock outstanding at the close of the
year, which the gross am ount of Its Income for the year from business trans
acted and capital invested within the United States and any of Its Terri
tories, Alaska and the District of Columbia, bears to the gross am ount of Its
Income derived from all sources within and without the United States;
(4) The sums paid by it within the year for taxes Imposed under the
authority of the United States or any State or Territory thereof.
T H E R E T U R N S W H IC H C O R P O R A T IO N S A R E R E Q U IR E D
TO M A K E .
N
T h ir d .— That there shall be deducted from the am ount of the net incom e
of each o f such corporations, Joint stock com panies or associations or
insurance companies, ascertained as provided In the foregoing paragraphs
of this section, the sum of $5,000, and said tax shall be com puted upon the
remainder of said net Income o f such corporation. Joint stock com pany or
association or insurance com pany for the year ending December 31 1009
and for each year thereafter: and on or before the llrst day of March 1 0 1 0 ,
and the first day of March In each year thereafter, a true and accurate
return under oath or affirmation of Its President, Vice-President or other
principal officer, and of Its Treasurer or Assistant Treasurer, shall be made
by each of the corporations, join t stock companies or associations and
Insurance companies subject to the tax Imposed b y this section to the
Collector of Internal Revenue for the district In which such corporation,
join t stock com pany or association or Insurance com pany has Its principal
place of business, or In the case of a corporation, join t stock com pany or
association or Insurance com pany organized under the laws of a foreign
country in the place where Its principal business Is carried on within the
United States, In such form as the Commissioner of Internal Revenue, with
the approval of the Secretary of the Treasury, shall prescribe, setting1forth;
(1) The total amount of the paid-up capital stock of such corporation,
Joint stock com pany or association or insurance com pany outstanding at
the close of the year;
,
,
.
.
(2) The total amount of the bonded and other indebtedness of such
corporation, joint stock com pany or association or Insurance com pany at
the close of the year;
(3) The gross amount of the Income of such corporation, join t stock
com pany or association or Insurance com pany received during such year
from all sources, and If organized under the laws of a foreign country the
gross am ount of Its Income from business transacted and capital Invested
within the United States and any of Its Territories, Alaska and the District
of Columbia:
(4) The total am ount of all the ordinary and necessary expenses actually
paid out of earnings in the maintenance and operation o f the business
and properties of such corporation, joint stock com pany or association or
Insurance com pany within the year, and It organized under the laws of a
foreign country the amount so paid In the maintenance and operation of Its
business within the United States and its Territories, Alaska and the
District of Columbia.
(5) The total amount of all losses actually sustained during the year and
not compensated by Insurance or otherwise, stating separately any amounts
allowed for depreciation of property, and In the case of Insurance companies
the sums required b y law to be carried to premium reserve fund, and m the
case of a corporation, Joint stock com pany or association or Insurance com
pany organized under the laws of a foreign country, all losses actually
sustained b y It during the year In business conducted b y It within the
United States or Its Territories, Alaska and the District of Columbia not
com pensated b y Insurance or otherwise; stating separately any amounts
allowed for depreciation of property and In the case of Insurance companies
the sums required by law to be carried to premium reserve fund:
(6) The am ount of Interest actually paid within the year on Its bonded
or other Indebtedness to an amount of such bonded and other Indebtedness
not exceeding the paid-up capital stock of such corporation, join t stock
com pany or association or Insurance com pany outstanding at the close of
the year: or In case of a corporation, join t stock com pany or association or
insurance com pany organized under the laws of a foreign country, Interest so
paid on Its bonded or other Indebtedness to an am ount of such bonded
and other Indebtedness not exceeding the proportion of Its paid-up capital
stock outstanding at the close of the year which the gross am ount of Its
Income for the year from business transacted and capital Invested within
the United States and any o f Its Territories, Alaska and the District of
Columbia, bears to the gross am ount of Its Income derived from all sources
within and without the United States:
,
(7) The amount paid by it within the year fo r taxes im posed under the
authority of the United States or any State, m unicipality or Territory
thereof:
(8) The net Income of such corporation, Joint stock com pany or associa
tion or insurance com pany after making the deductions In this section
authorized. All such returns shall as received be transmitted forthw ith b y
the Collector to the Commissioner of Internal Revenue.
The United States Senate late on Thursday night passed
the tariff bill, including the provision for a tax of two
per cent on the annual net income over and above $5,000
received by corporations. Before the bill came out of
Committee of the Whole a clause was inserted exempting
from its operation domestic building and loan associations
operated for the mutual benefit of their members, and labor,
agriculture or horticulture organizations, or fraternal
beneficiary societies, &c.; and in the open Senate, with the
view to making holding companies subject to the tax,
the parts of the measure allowing corporations in ascertaining
their net income to deduct amounts received as dividends
upon the stock of other corporations subject to the tax
were stricken out. All these changes occur in the first
three paragraphs of the Corporation Tax Section, and we
therefore reprint these paragraphs here. The remaining
ITEMS ABOUT BANKS, BANKERS AND TRUST CO.’S.
paragraphs remain just as given by us last week.
Section 0 .— That every corporation, Joint stock com pany or association
— The public sales of bank stocks this week aggregate
organized for profit and having a capital stock represented b y shares, and
every Insurance com pany now or hereafter organized under the laws of
12Gj^ shares, of which 953^ shares were sold at auction and
the United States or of any State or Territory of
the
United
States, or under the Acts of Congress applicable to Alaska or the 31 shares at the Stock Exchange.
The transactions in trust
District of Columbia, or organized under the laws of any foreign
country and engaged In business In any State or Territory of company stocks reach a total of 22 shares.
A sale of 2 shares
the United States or In Alaska or in the District of Columbia, shall be
subject to pay annually a special excise tax with respect to the carrying on of Knickerbocker Trust Co. stock was made at 347, an
or doing business b y such corporation, Joint stock com pany or association
or Insurance com pany equivalent to 2 % upon the entire net Income over advance of 22 points over the price paid at the last previous
and above $5,000 received by It from all sources during such year, or If
organized under the laws of any foreign country, upon the amount of net s a l e , w h ic h w a s m a d e in April.
L a s t p r e v io u s s a le.
Income over and above *5,000 received by It from business transacted S h a r e s . B A N K S — N e w Y o r k .
Low .
H ig h . C lo s e .
and capital Invested within the United States and Its Territories, Alaska
June 1009— 252
252
252
9 Amer. E xch. Nat. Bank_ _. . 252
and the District of Columbia during such year: provided, however, that
June 1009— 350
368
358
nothing In this section contained shall apply to laoor, agriculture or horti 645 City Bank, N ational______ _ 352
culture organizations or fraternal beneficiary societies, orders, or associa •18 Commerce, N at. Bank o f - - . 185
189% 180% Juno 1909— 188
tions operating under the lodge system and providing for the payment
1009— 330
June
3 33 % 333%
of life, sick, accident, and other benefits to the members of such ocletles, a21 Corn Exchange B ank_____ . 330
Feb. 1900— 551
551
551
12 Im porters’ & T rad. N at. Bk . 551
orders, or associations, and dependents of such members, nor to domestic
building and loan associations organized and operated exclusively for the
B A N K — B ro o k ly n .
mutual benellt of their members: nor to any corporation or association
Juno 1900— 102
100
100
organized and operated exclusively for religious, charitable, or educational 19 % Union B ank_____________ . 100
purposes, no part of the prollt of which enures to the benefit of any private
T R U S T COM PAN Y— New Y o r k —
stockholder or Individual, but all of the profit of which Is In good faith
April 1900— 325
347
347
2 Knickerbocker Trust C o ____347
devoted to the said religious, charitable or educational purpose.
T R U S T COM PAN Y— B r o o k l y n .
N ET INCOME— HOW TO BE A SC E R T A IN E D .
205
Sept. 1908— 276
295
20 People’s Trust C o.................. 295
S e c o n d .— Such net Income shall be ascertained b y deducting fro m the
gross am ount of the Income of such corporation, Joint stock com pany or
• O f this amount 1 share was sold at the Stock Exchange, a Of this
association or Insurance com pany from all sources:
(1) All the ordinary and necessary expenses actually paid within the year 10 shares were sold at the Stock Exchange. & O f this am ount 20 shares
out of Income In the maintenance and operation of Its business and prop
were sold a t the Stock Exchange.
erties:
(2) All losses actually sustained within the year and not compensated by
— A New York Stock Exchange membership was reported
nsurance or otherwise, Including a reasonable allowance for depreciation
of property, If any, and In the case of Insurance companies the sums re transferred to-day for $82,000, the last previous sale being
quired b y law to be carried to reserve funds:
- (3) Interest actually paid within the year on Its bonded or other Indebt given at $87,000.
edness to an am ount o f such bonded and other Indebtedness not exceeding
the paid-up capital stock' of such corporation. Joint stock com pany or
— State Attorney-General O’Malley, at Albany, has modiassociation or insurance com pany outstanding at the close of the year:
(4)
All sums paid by It within the year for taxes Imposed under thetied his opinion in the matter of the taxability of the certifi
authority of the United States or any State or Territory thereof.
cates of beneficial interest in the Great Northern Ore proper
E XE M PTIO N S FO R F O R E IG N C O M PAN IES.
P r o v id e d that in the case o f a corporation. Joint stock com pany or asso
ciation or Insurance com pany organized under the laws of a foreign country ties under the Stock Transfer Act, referred to in our issue
such net Income shall be ascertained b y deducting from the gross amount of June 26.
Mr. O’ Malley on the 8th of that month ex
of its Income from business transacted and capital invested within the
United States and any of Its Territories, Alaska and the District of Columbia: pressed the opinion that, as tbe certificates apparently did
(1)
All the ordinary and necessary expenses actually paid within the year
out of earnings In the maintenance and operation of its business and p rop not represent an interest in the management, profits or
erty within tne United States and Its Territories, Alaska and the District
ultimate assets of a corporation, their transfer was not
of Columbia.
*
THE CHRONICLE
J u l y 10 1909. |
s u b je c t
In
to
v ie w ,
th e
sto c k
how ever,
tra n sfer
of
ta x
of
in fo r m a tio n
tw o
s in c e
c e n ts
per
r e c e iv e d
$100.
by
h im
f r o m S t a t e C o m p t r o l l e r C h a r le s H . G a u s , in w h i c h i t is c l a i m e d
th a t
th e
c e r t if i c a t e s d o
c o r p o r a tio n ,
th e
r e p r e s e n t a b e n e f i c i a l i n t e r e s t in
A tto r n e y -G e n e r a l
to d is r e g a r d th e o p in io n g iv e n
and
u n til
it
is
e s ta b lis h e d
has
a d v is e d
th e se
c e r t if i c a t e s
of
any
c o r p o r a t i o n .”
T h ese
c o r p o r a tio n
in s tr u c tio n s
t h a t t h e e x i s t i n g b a n k is c h a r g i n g in t e r e s t r a t e s t o t h e b o r r o w
not
con
10, 1900.
th e s e
a d v ic e s
is s u e d a l e t t e r t o t h e e x a m i n e r s o f
C o m p tr o lle r
sto c k
G aus
has
t r a n s f e r s in w h i c h
he s a y s :
There has been misapprehension b y m any persons as to the taxability of
transfers to rights In subscriptions for stock In corporations upon which
Installments o f the purchase price have been paid but no certificate of
shares issued, and also In relation to trustee o r other certificates of beneficial
Interest In corporate property which bear no face value, but are dealt In
and transferred upon stock exchanges and In the usual course of business
elsewhere by similar methods o f sale and delivery, written agreements, or
memoranda of sales or deliveries, as arc transfers o f shares o r certificates
o f stock In associations and corporations con ccd ed ly within the law.
The examiners of this departm ent arc Instructed to require the paym ent
of taxes upon all transfers of the character above described. In accordance
with previous directions. The rate fixed by law Is 2 cents on each $100 of
face value or fraction thereof. W here the face value Is not stated In the In
strument transferred, then the sum fixed b y any evidence ot transfer or sale
entitling the holder to a beneficial interest In any corporation or the stock
of any corporation is to be taken as Its face value, and a tax o f 2 cents im
posed upon each $100 or fraction thereof. This ruling is In harm ony with
the advice of the A ttorney-General.
•
— A
m o v e m e n t t o e s t a b li s h a n o r g a n i z a t i o n
r e p r e s e n tin g
th r o u g h o u t t h e S t a t e fo r th e p r o te c tio n o f
p u b l i c .”
— The
P e n n s y lv a n ia
c is i o n u p h o l d i n g
1907
of
-Rererrintf to the opinion which I rendered you under date ot
the 8th Inst., with reference to the taxability of certlllcates representing
Interests In the Great Northern Ore properties, I am now Informed b y you
that It Is claimed that these certificates do represent a beneficial interest In
a certain corporation or In the stock of that corporation.
The opinion which I wrote was based on the assumption, from the papers
and facts then before me, that the certlllcates did not represent any such
Interest as this. I therefore advise you that, unless and until it Is established
that these certlllcates do not represent any beneficial Interest In any cor
poration or the stock o f any corporation, you m ay disregard this opinion.
Unless the facts which appeared from the inform ation then before me to
exist do in fact exist, the opinion, of course, has no application to these
certificates.
V ery respectfully yours,
E D W A R D R . O’M A L L E Y ,
Attorney-General.
w ith
r u le b e u n i f o r m
th e
or th e
D ea r S ir
accordance
s io n e r is s u e a c h a r t e r t o a s e c o n d b a n k “ w h e r e v e r i t a p p e a r s
in g p u b lic th a t a r e e x c e s s iv e o r e x t o r t io n a t e , a n d t h a t s u c h
v e y e d u n d e r d a t e o f J u n e 1.0 i n t h e f o l l o w i n g l e t t e r :
In
T h e B o a r d h as th e re
re c o m m e n d in g th a t th e C o m m is
G aus
do
w ere
A lb a n y , N . Y ., J u n e
H o n . C h a r le s I I . G a u s , S ta le C o m p tr o lle r , A l b a n y , N . Y . :
c h a r g in g e x c e s s iv e r a te s o f in te r e s t.
fo r e a d o p t e d a r e s o lu tio n
a
w ith r e g a r d t h e r e t o , “ u n le s s
th a t
r e p r e s e n t a n y b e n e f i c i a l i n t e r e s t in a n y
sto c k
M r.
81
th e
Su prem e
C ourt
has
ren d ered
c o n s t it u t io n a lit y o f th e la w
a
de
passed
in
d e fin in g th e m e t h o d o f a s c e r ta in in g t h e t a x a b le v a lu e
sh ares
of
tru st
c o m p a n ie s.
The
d e c is i o n
reverses
th e
r u l in g o f t h e D a u p h i n C o u n t y C o u r t .
A t it s r e c e n t c o n v e n t i o n , h e ld J u n e 2 8 - 2 9 o n b o a r d t h e
ste a m e r
V ir g in ia ,
a d o p te d
a
th e
r e s o lu tio n
p r o p o s itio n .
A
W is c o n s in
c o n d e m n in g
r e s o lu tio n
w as
d is c u s s io n
w as
A s s o c ia tio n
p o s ta l s a v in g s
a lso
o p p o s itio n to th e d e p o s it -g u a r a n t y
a b le
B an k ers’
th e
s u b m itte d
p la n , b u t
fin a lly w it h d r a w n .
bank
d e c la r in g
a fte r c o n sid e r
T h e fa c t
th a t
th e
b a n k e r s h a d a s t h e i r g u e s t S e n a t o r W . C . O w e n , w h o in a n
a d d r e s s o n t h e s u b j e c t a d v o c a t e d la w s g u a r a n t e e i n g d e p o s i t s ,
h a d a b e a r i n g o n t h e i r c o u r s e in w i t h h o l d i n g a c t i o n o n
th e
r e s o lu tio n .
A m o n g o th e r r e s o lu tio n s a d o p t e d
w as one
en
d o r s in g
p la n
and
th e
fa v o r in g
to
e m p lo y
le g is la t io n
w h ic h
a
p a id
w o u ld
se c re ta r y
p e r m it
a n o th e r
n a tio n a l b a n k s
in
m u n i c i p a l i t i e s w i t h a p o p u l a t i o n o f n o t le s s t h a n 2 0 , 0 0 0
to
lo a n a c o n s e r v a tiv e p e r c e n ta g e o f th e ir c a p it a l a n d s u r p lu s
u p o n real e sta te
v a lu e d
a t le a s t
d o u b le th e a m o u n t o f th e
lo a n .
— -A t th e
a n n u a l c o n v e n tio n
o f th e
N ew
Y ork
B an k ers’
A s s o c i a t i o n t o b e h e ld n e x t w e e k ( o n t h e 15fch a n d
1 6 th ) at
S a r a t o g a S p r i n g s , a d d r e s s e s w ill b e d e l i v e r e d b y W i l l i a m M .
K in g s le y , V ic e -P r e s id e n t o f th e
N ew
U n ite d S ta te s T r u s t C o . o f
Y o r k ; C la rk W ill ia m s , S ta te S u p e r in te n d e n t o f
B an k s;
F . O . W a t t s , P r e s id e n t o f th e F ir s t N a tio n a l B a n k o f N a s h
v ille , a n d
Bank
and
&
L u c iu s
T e te r,
P re sid e n t o f
T r u s t C o ., C h ic a g o .
M r. T e te r are
th e
o n ly
The
th e
C h ic a g o
to p ic s o f
M r.
on es an nounced
S a v in g s
K in g s le y
th u s fa r , th e
f o r m e r h a v i n g f o r h is s u b j e c t “ L i g h t s a n d S h a d o w s o f W a l l
S t r e e t ,” a n d th e la t t e r “ S o m e P h a s e s o f th e P o s ta l S a v in g s
Bank
Q u e s t i o n .”
s e s s io n
fro m
A s s o c i a t i o n w ill b e c a l l e d b y t h e V i c e - P r e s i d e n t r e p r e s e n t i n g
th e
K an sas
B an k ers’
A s s o c ia tio n ,
is
under
w ay.
A
a
A t th e a d jo u r n m e n t o f th e se co n d d a y ’s
s o le ly th e S t a t e b a n k s o f K a n s a s , a n d to b e e n tir e ly s e p a r a te
m e e tin g
of
m em bers
of
th e
A m e r ic a n
B an k ers’
m e e tin g to p e rfe c t th e o r g a n iz a tio n o f th e p r o p o s e d a s s o c ia
N e w Y o r k S t a t e , A r t h u r K a v a n a g h , C a s h ie r o f t h e N a t io n a l
t io n is t o b e h e ld o n T h u r s d a y n e x t , t h e 1 5 t h i n s t . , a t T o p e k a .
C ity B a n k o f N e w Y o r k .
T h e e n a c t m e n t o f t h e d e p o s i t g u a r a n t y la w
and
th e
S u rety
fo r m a tio n
Co.
have
of
th e
serv ed
to
B an k ers’
o f th e S ta t e
D e p o sit
G u a r a n ty &
d e v e l o p d if f e r e n c e s b e t w e e n t h e
T h e e n t e r t a in m e n t p r o v id e d c o n
s is ts o f a r e c e p tio n a n d la w n fe te t e n d e r e d b y G r o u p 5 o f th e
B a n k e r s ’ A s s o c ia tio n
day
a fte rn o o n , a n d
and
th e
c itiz e n s o f
S a ra to g a ,
T h u rs
a b a n q u e t in t h e e v e n i n g o f t h a t d a y .
n a t i o n a l a n d S t a t e b a n k s , w h i c h , it is c o n t e n d e d b y s o m e ,
A s a i l o n L a k e G e o r g e is s c h e d u l e d f o r F r i d a y a f t e r n o o n a n d
can
o n t h a t e v e n i n g t h e r e w ill b e a d i s p l a y o f f ir e w o r k s a t C o n
o n ly
b e a lla y e d
o f tin ' L e g i s l a t u r e .
to
b e p a id o n
th ro u g h
t h e c a ll in g o f a n e x t r a s e s s io n
T h e c o n t e n t i o n lie s in t h e r a t e o f i n t e r e s t
d e p o sits, th e g u a r a n ty
la w
u n d e r w h ic h
th e
gress
P a r k a t 9 p . m ., fo llo w e d b y
S ta tes H o te l a t
1 0 :3 0 .
d a n c in g a t th e
U n ite d
C h a r le s E l i o t W a r r e n , o f t h e C o m
S t a t e b a n k s w ill o p e r a t e c o v e r i n g o n l y d e p o s i t s b e a r i n g i n t e r
m itte e o f A r r a n g e m e n t s , h a s a r ra n g e d
e s t n o t e x c e e d i n g 3 % , w h ile n o l i m i t a s t o r a t e is f ix e d b y t h e
C e n t r a l li n e s f o r a s p e c i a l t r a i n t o l e a v e
s u r e t y c o m p a n y t h r o u g h w h ic h t h e n a t i o n a l b a n k s w ill p r o
p . m . n e x t W e d n e s d a y , r u n n in g d ir e c t to th e U n it e d S t a t e s
tect
H o t e l w ith o u t c h a n g e .
th e ir
su g g e ste d
d e p o sits.
by
An
a d ju s tm e n t
th e p a ssa g e o f a
of
th e
d if f e r e n c e s
b ill p r o h i b i t i n g
is
fid e lity a n d
— T w o im p o r t a n t s te p s b y th e
s u r e t y c o m p a n i e s f r o m in s u r i n g d e p o s i t s b e a r i n g h i g h e r r a t e s ,
c ity
o f in te r e s t t h a n th e S t a t e b a n k s a r c p e r m it t e d to p a y u n d e r
years
th e
g u a ra n ty
la w .
In
lieu-,
h ow ever,
o f c a l l i n g a s p e c ia l
w ere a n n o u n c e d
of
th e
th is
S te v e n s
th e
N ew
N ew
Y ork
Y o r k a t 2 :4 5
B a n k e r s ’ T r u s t C o . o f th is
w e e k — th e
B u ild in g
w ith
at
le a s in g fo r a t e r m
14,
16 an d
18
W a ll
of
S t.
a n d th e a r r a n g e m e n t s fo r in c r e a s in g th e c a p it a l f r o m $ 1 ,0 0 0 ,
s e s s io n o f t h e L e g i s l a t u r e , e f f o r t s a r e b e i n g d ir e c t e d t o w a r d
000
t h e a p p o i n t m e n t o f c o m m i t t e e s r e p r e s e n t in g t h e n a t i o n a l a n d
f e r r e d t o , i t is t h e p u r p o s e o f t h e c o m p a n y t o e r e c t a s i x t e e n -
S t a t e b a n k s t o e f f e c t a n a g r e e m e n t in t h e m a t t e r b e t w e e n t h e
tw o
c la s s e s
— S ta te
of
in s titu tio n s .
Bank
to
sto ry
.$ 3 , 0 0 0 , 0 0 0 .
o ffic e
In
stru c tu re ,
ta k in g
in
a
le a s e o f
w h ic h
th e
p ro p e rty
a c c o m m o d a tio n s
fo r
re
th e
t r a n s a c t i o n o f i t s o w n e x p a n d i n g b u s i n e s s w ill b e p r o v i d e d .
C o m m is s io n e r
A.
M.
Young
of
O k la h o m a
A t p r e s e n t t h e i n s t i t u t i o n o c c u p i e s t h r e e f lo o r s in t h e b u i l d
a n d th e S ta t e B a n k in g B o a r d se e m to b e d iv id e d o n th e q u e s
in g a t 7 W a l l S t .
tio n a s t o t h e d e s i r a b i l i t y o f g r a n t i n g c h a r t e r s t o b a n k s i n
has
ju s t
t e n d i n g t o o p e r a t e in s m a ll m u n i c i p a l i t i e s a l r e a d y s u p p l i e d
and
is a c q u i r e d
w ith
p r i v il e g e o f t h r e e r e n e w a l s , c o v e r i n g a p e r i o d a l t o g e t h e r o f
b a n k in g
s io n e r
has
fa c ilitie s .
e x e rc ise d
It
th e
is
re p o rte d
a r b itra r y
th a t
pow er
of
th e
C o m m is
d e te r m in in g
been
T h e S t e v e n s B u i l d i n g , t h e le a s e o f w h ic h
o b ta in e d ,
fo r
e ig h t y -fo u r y e a r s .
is o w n e d
a te rm
of
by
th e S a m p so n e s ta te ,
tw e n ty -o n e
y e a r s , w ith
th e
T h e n e g o tia tio n s w ere c o n d u c te d fo r th e
w h e t h e r o r n o t a d d i t i o n a l b a n k s s h a ll b e e s t a b l i s h e d a t s u c h
com pany b y
p o i n t s , a n d h a s r e f u s e d t o g r a n t c h a r t e r s in i n s t a n c e s w h e r e
C h a ir m a n o f th e E x e c u t i v e C o m m it t e e o f th e tr u s t c o m p a n y .
h e b e li e v e d t h a t t h e p o p u l a t i o n a n d b u s i n e s s d id n o t w a r r a n t
T h e p l o t is in t h e f o r m o f a n
th e
fe e t o n W a ll S t . a n d 2 3 .5 fe e t o n N a ssa u S t .
o r g a n iz a tio n
of
a d d itio n a l
ban k s.
A c c o r d in g
to
th e
H e n r y P . D a v is o n , of J . P .
“ L ,”
M organ
h a v in g a fr o n t a g e o f 6 9
“ K a n s a s C ity S t a r ,” th e S t a t e B a n k in g B o a r d ta k e s a n o th e r
surround s
v ie w
n o rth w e st corn er o f W a ll an d N a ssa u s tr e e ts .
o f th e m a t t e r b y b a s in g th e n u m b e r o f b a n k s , n o t o n
th e a m o u n t o f b a n k in g , b u t u p o n th e m e t h o d o f b a n k in g .
It
an
b a n k w a s .e s t a b l i s h e d , a n d n e e d e d , a n d t h a t b a n k w a s a n a
v a lu e , sa id
tio n a l,
$ 8 0 ,0 0 0
in
th e a b se n c e o f c o m p e titio n ,
w as
G i l le n d e r
B u i l d i n g , w h ic h
T h e p ro p e rty
is l o c a t e d
at
th e
T h e te rm s of
t h e le a s e h a v e n o t b e e n d i s c l o s e d , b u t r e p o r t s h a v e it t h a t
is s t a t e d t h a t it h a s b e e n f o u n d t h a t in t o w n s w h e r e o n l y o n e
th e in s titu tio n ,
th e
& C o ., as
a n n u a l n e t re n ta l o f 4 %
per
to
be
year.
w ill b e p a i d o n
$ 2 ,0 0 0 ,0 0 0 .
T h is
w o u ld
t h e a p p r a is e d
m ake
th e
rent
82
THE CHRONICLE
The company’s plans with regard to its new $2,000,000 of
capital provide for the offering of one-half the proposed issue
to its present stockholders at $300 per $100 share. The
remaining portion will be taken by other interests at $400
per share. The amount which the latter will pay in excess
of that to be contributed by existing shareholders, namely
$100 per share, will go to the present shareholders, who will
in addition receive a special cash dividend of $50 per share,
which in effect will result in their obtaining their allotment
of the new stock at $150 per share. The present surplus
and profits of the institution of about $1,500,000 will be
increased, when the new capital of $3,000,000 becomes
effective, to $6,000,000. The Bankers’ Trust Co. began
business on March 30 1903. It has deposits in excess of
$40,000,000.
— The Carnegie Trust Co. of this city has again postponed
its annual election of officers. Since June 1 there has been an
adjournment from week to week, in order, it is understood,
to complete the plans for taking over the Van Norden Trust
Co., the Nineteenth Ward and the Twelfth Ward banks.
The meeting is now adjourned for four weeks, subject to call,
however, at ah earlier date.
— John L. Riker, Vice-President of the Bank of New
York, N. B. A., and of the Second National Bank of this
city, died at his summer home at Seabright on the 6th inst.
Mr. Riker was born at Bowery Bay, L. I., in 1830. He was
formerly prominent as a merchant, but retired from active
business several years ago. Aside from the two connections
referred to above, at the time of his death Mr. Riker was
likewise Vice-President of the Fifth Avenue Safe Deposit Co.
and the Laflin & Rand Powder Co., and a director of the
Farmers’ Loan & Trust Co., the Metropolitan Trust Co.,
the Plaza Bank, the Atlantic Mutual Insurance Co., the
Greenwich Savings Bank, the Continental Insurance Co.,
the Buffalo Rochester & Pittsburgh Ry. Co., the Fidelity
& Casualty Co., the Hanover Fire Insurance Co., the Niagara
Fire Insurance Co., &c., &c.
— A. L. Banister recently resigned as Vice-President of
the Mutual Alliance Trust Co. of this city to become Treas
urer of the Paterson Savings Institution of Paterson, N. J.
— The Franklin Trust Co. of New York and Brooklyn has
completed its semi-annual year of business with $12,920,769
deposits on June 30 1909. This excellent growth has oc
curred during the presidency of Arthur King Wood, who
assumed the executive direction of the company one year
ago. At the June 17 1908 bank call the deposits of the in
stitution were $7,373,138 and on Jan. 1 1909 $10,191,448.
Resources are now $16,086,097, capital $1,500,000, surplus
and profits $1,553,617. Mr. Wood is leaving New York
to-day for a six weeks’ vacation abroad in England and
France.
.
— A fire in the building in which the Fulton Street branch
of the Nassau Trust Co. of Brooklyn Borough is housed
occurred on Monday night. The fire was confined to the
upper portion of the building, the offices of the trust com
pany suffering principally through water. The institution
was obliged to make use of temporary quarters in the base
ment of the National City Bank on the opposite corner, for a
day, resuming in its own quarters on Wednesday.
—’The Columbia National Bank of Buffalo, N. Y ., which
has just increased its capital from $700,000 to $1,000,000,
has decided to still further add to the amount. The capital
of $1,000,000 became effective on the 2d inst., and the
stockholders have been called to meet on Aug. 10 to act on
the proposition to issue another $1,000,000 of stock, making
the capital $2,000,000. Three years ago the bank was work
ing on a capital of $2'00,000; in July 1906 arrangements were
made to increase the amount to $500,000, a dividend of 150%
being thereupon declared to the stockholders. A year later
the capital was raised to $700,000; some weeks ago $300,000
additional stock was authorized, giving a capital of $1,000,
000, and now the increase to $2,000,000 is planned. In its
statement for June 23 1909 the surplus and profits of the
bank stood at $1,103,755, and its deposits aggregated
$7,755,903.
—Frank A. Bosworth, a Vice-President of the First Na
tional Bank of Utica, N. Y ., and Henry R. Williams, Vice
President and Cashier, were this week elected directors of the
institution to fill vacancies. Mr. Williams has been asso
[YOL. (L5CXXIX.
ciated with the bank for thirty-three years, and has advanced
to his present responsible position through successive pro
motions. Mr. Bosworth was for twenty-six years with the
Oneida County Bank, and since the merger of that bank with
the First National has been identified with the latter.
— A consolidation of the Bridgeport National Bank and
the First National Bank of Bridgeport, Conn., is under
consideration, and is to be acted upon by the stockholders
of the two institutions on the 15th inst. It is understood
that the merger will be effected under the name of the First
National, and that Charles G. Sanford, President of the
latter, will hold the same position in the enlarged organiza
tion. The First National has a capital of $250,000 and the
Bridgeport National a capital of $215,850. The deposits
of each are in the neighborhood of $1,375,000.
—The Supreme Court of Massachusetts this week sus
tained the finding of the Master appointed to investigate
the condition of the Boston Banking Co. of Boston, Mass.,
against which a temporary injunction was obtained by
State Bank Commissioner Chapin on May 11, on the ground
that the capital was impaired. In his report, referred to in
this department last week, the Master found that the capital
was not impaired, and that its condition was not such
as to make its continuance hazardous. The Commissioner
moved to re-commit the case to the Master, and a receiver
was asked for on the ground that the bank’s President is in
jail in Rhode Island in default of bail, in a suit brought
against him. The Court ruled that that fact did not call for
a receiver and denied the motion to re-commit.
— The Waterville Trust Co. of Waterville, Me., which was
closed on May 10 under a restraining order issued by Judge
Spear at the instance of State Bank Examiner Skelton, was
placed in charge of permanent receivers on the 2d inst. The
receivers named are Charles F. Johnson, Counsel for the
company, and Harry L. Holmes, Treasurer of the institution.
The decree, it is stated, perpetually enjoins the company and
its officers from the further prosecution of its business.
— Thomas S. Boyle has been chosen to succeed Georgo W .
Shisler, resigned, as President of the American Bank of
Philadelphia.
— The stockholders of the Traders’ National Bank of Scran
ton, Pa., in ratifying the proposition on June 22 to increase
the capital from $250,000 to $500,000, passed a resolution
that the stock be issued to shareholders of record July 1 at
$200 per share. The manner of collecting payment on the
stock has been left to the discretion of the directors. The
bank is about to erect a new building, and we are informed
that since the primary purpose of the increase is to keep
the capital and real estate accounts in proper proportion,
payments on the stock will perhaps be called for in install
ments extending over the next six months.
— Paul A. Seeger has been advanced from the vice
presidency to the presidency of the Drovers’ & Mechanics’
National Bank of Baltimore, to succeed James Clark, who
died on June 26. Robert D. Hopkins has been elected
Vice-President, succeeding Mr. Seeger.
— A dividend of 5% was paid this week to the depositors
of the Cosmopolitan National Bank of Pittsburgh, making
the aggregate thus far 55%. The institution closed its doors
in September 1908.
— The Wick Brothers Trust Company of Youngstown,
Ohio, capital $125,000, was absorbed on May 15 by the Dol
lar Savings & Trust Company of that city. The charter of
the absorbed institution will be surrendered. The Dollar
Savings & Trust has a capital of $1,500,000 and no increase is
to be made thereto.
— The payment of the quarterly interest due the Chicago
Clearing-House banks on the $7,200,000 loan to the Walsh
banks was paid by John R. Walsh on the 1st inst. The
amount due, namely, $87,500, was payable April 1, but three
months’ grace is allowed under the contract, and this period
of grace is usually availed of.
— Herman Waldeck, for several years officially connected
with the Continental National Bank of Chicago as Assistant
Cashier and Manager of its Credit Department, was elected
Vice-President at a meeting of the board of directors on the
6th inst.
•July iy 1 0 0 9 .)
THE CHRONICLE
— Norman W. Harris, President of the Harris Trust &
Savings Bank, Chicago, and head of the bond house of N. W.
Harris & Co., has donated $100,000 towards a permanent
endowment fund of $500,000 for the benefit of aged deacon
esses affiliated with the Methodist Deaconnesses Association
in Chicago. The conditions under which Mr. Harris has
given the first $100,000 of the fund are that his gift shall re
main intact with the trustees until the total fund, including
its accumulations and other gifts which may come to it,
amounts to $250,000. Then one-half of the income of the
fund is to be paid out to deaconnesses who have served
twenty years or more and have reached the age of 60 years.
When the total fund reaches $500,000, all its income is to be
paid out in pensions.
— The First Trust & Savings Bank of Des Moines, la.,
which is to be an adjunct of the First National Bank of that
city, has been incorporated. Arthur Reynolds, President of
the bank, will be at the head of the new organization.
—The Farmers’ Trust & Savings Bank of Sioux City, Iowa,
which is associated witli the Farmers’ Loan & Trust Co. of
that city, began business on June 1 with a capital fully paid
of $100,000 and a surplus of $11,111. The new organization
will do a savings bank business solely, accepting neither
commercial accounts nor the active accounts of country
banks. James F. Toy is President; D. C. Shull, Vice
President; J. Fred. Toy, Cashier, and II. A. Barr, Assistant
Cashier.
y* ,
— Paul J. Loeman has been promoted to an assistant
eashiership of the First National Bank of Minneapolis.
Mr. Leeman has been in the employ of the bank for the past
ten years. The bank, which lost an assistant cashier in
the death of Ernest C. Brown, has three other assistants
to Cashier George F. Orde, namely, D. Mackerchar,
H. A. Willoughby and George A. Lyon, Mr. Leeman ranking
fourth.
— The Broadway National Bank, a new St. Louis insti
tution, began business on June 29 at Broadway and Soulard
Street. The bank has a capital of $200,000, and it is under
stood that the stock was disposed of a par, namely, $100
per share. The first day’s deposits are said to have exceeded
$150,000. The officers of the institution are F. Ernest
Cramer, President; Snelson Chesncy, Vice-President; Daniel
A. Siegfried, Cashier, and II. C. Menne, Assistant Cashier.
— The Corn Exchange Bank of Omaha, representing a
reorganization of the Hayden Bros. Bank, began business
on the 6th ult. The institution is under the management of
Joseph Hayden, President, T. E. Stevens, Vice-President
and J. W. Thomas, Cashier. Of the authorized capital of
$500,000, $.300,000 is reported as paid in.
p Xonctar iVI(£o mm er c ia t^ u flltsTtllgurs
L o n d o n , S a tu rd a y , J u ly 5 1909.
Lord Charles Bercsford's speech at the Merchants’ Com
pany Hall on Wednesday was awaited with great interest
by the City. There was a very large and representative
attendance. To some extent the interest created was due
to some uncertainty whether Lord Charles would make any
reference to certain personal incidents which are understood
to have occurred between himself and certain other high
officers at present responsible for the conduct of the navy.
On this the distinguished Admiral said nothing to satisfy
public curiosity. He treated the question wholly from the
national point of view. He made some very large demands,
amounting in all to an estimated figure of 60 millions ster
ling, upon the public purse, if the navy is to be reconstructed
upon the lines demanded by Lord Charles. Practically,
however, the present responsible Government, both in the
person of the Prime Minister and the Foreign Secretary,
have admitted that, in their opinion, it is necessary to re
construct the navy, or a great part of it, within the next ten
years. And Lord Charles Beresford merely endorsed what
the Government admits is necessary, perhaps not unnaturally
asking that it should be done at once, or at any rate with as
little delay as is practicable.
The impression grows in the City that the naval authori
ties, the Government and the Opposition, being virtually at
one on the subject, sooner or later we must have a great naval
loan, and this is one very powerful contributing cause of
the extreme depression which exists in the Consols market
and the market for the higher class of investment securities
generally. There arc other cause, such, for example, as the
hostility of the City to the Budget proposals of the Chancellor
of the Exchequer, particularly to the land taxes. But the
main underlying cause which affects the money interest,
whatever their political views, is the feeling that there must
be further borrowing, and that even if Consols can be forced
83
up temporarily by the present remarkably easy state of the
money market, a reaction is inevitable when it bocomes gen
erally recognized that the market has to face further issues
of capital on national account.
It is generally estimated that something like 13 millions
sterling has been borrowed this week from the Bank of Eng
land in connection with the half-yearly requirements. The
main cause of this demand is, of course, to meet the pay
ment of dividends and the usual charges in connection with
the turn of the half-year. It has, however, been accentuated
by the practice of our great joint-stock banks in calling in
loans for the purpose of making a good showing on the night
of June 30. The only remedy for this state of things, as
has been pointed out in nearly every newspaper in England
which deals with the subject is that the banks should per
manently keep larger reserves. But this must necessarily
take time, and unless they consent to do so this inconvenience
must be periodically submitted to. The general impression
is that next week, when the dividends on British funds and
a large number of other securities are paid, money will be
exceedingly cheap and plentiful in the market, and although
as the autumn advances it will tend more or less to harden
from time to time, many brokers here expect a very easy
state of the market throughout the remainder of the year.
The Bank is at last getting practically the whole of the South
African gold that comes to London each week, and the bul
lion held now exceeds 41 millions sterling. The reserve is
sligthly smaller than last week, but this is of only local in
terest, as it is due to seasonal causes.
Three factors have affected the London stock markets this
week. One has been the fortunate settlement of the threat
ened coal strike in connection with the coming into opera
tion of the Eight Hours Mining Bill. This has naturally
had a good effect upon the market for home railway securi
ties, which previously had been very seriously depressed by
the threatened strike. The rise in prices, however, has been
nothing like what an event of this importance might reasona
bly have been expected to bring about, mainly because the
market has received hardly any professional support. The
home railway market has so long been under a cloud that the
public seemed little inclined to pay attention to the favorable
features, however important they may be. The extreme
ease of the money market is, of course, another most favora
ble factor to the stock markets. But it, again, has had less
influence than might have been expected, owing to the causes
explained above. Lastly, the stock markets are only just
recovering from the technical difficulties into which they
were plunged in connection with the African mining boom
two accounts ago. There were a few small failures at this
week’s settlement, but none of them were of more than local
interest. As is not infrequently the case when prices ad
vance very rapidly, men of quite inadequate means launch
out upon a great scale. And as most of these people were
quite unable to give any security in the event of a setback, the
leaders of the market decided to restrict facilities for carry
ing over.
The India Council offered for tender on Wednesday 60
lacs of its bills, and the applications exceeded 658 lacs, at
prices ranging from Is. 3 15-16d. to Is. 3 31-32d. per rupee.
Applicants for bills at Is. 3 15-16d. and for telegraphic
transfers at Is. 3 31-32d. per rupee were allotted about 8 %
of the amounts applied for.
English Financial Markets— Per Cable.
The daily closing quotations for securities, &c., at London,
as reported by cable, have been as follows the past week:
L on d on .
' W eek ending J u ly 9.
Sliver, peroz...................... d .
Consols, new, 2)4 pcrcents..
For account............ ...........
French Rentes (In I’arls).fr_
Amalgamated Copper Co___
((Anaconda Mining Co______
Atchison Topeka & Santa Fe.
Preferred ............... ...........
Baltimore & Ohio..................
Preferred ..........................
Canadian Paclllc___________
Chesapeake & Ohio..............
Chicago Great Western____
Chicago Milw. & St. Paul__
Denver & Rio Grande______
Preferred_______________
E rie .......... ............................
First Preferred........ .........
Second Preferred________
Illinois Central-.......... .........
Louisville & Nashville______
Missouri Kansas <fc Texas__
Preferred ...........................
National RR. of Mex. 1st pf.
Second Preferred-----------N. Y. Central & Hudson Rlv.
N. Y. Ontario & Western.. .
Norfolk & Western_________
Preferred ...........................
Northern Pacific___________
oPcnnsylvanla------------------aReadlng Company..............
aFIrst Preferred_________
aSecond Preferred_______
Rock Island---------------------Southern Paclllc----------------Southern Railway................
Preferred...........................
Union Pacific-------------------Preferred...........................
U. S. Steel Corporation........
Preferred...........................
W abash.................................
Preferred _______________
Extended I s ......................
a Price per share.
Sat.
M on.
____
S4)4
118)4
121)4
187 s,*
785 s
49)4
38y»
£
O
Oj
V.
o
42)4
____
136)4
53 K
h
O
<?
6 £ sterling.
156)4
70
SOM
34)4
135 )4
32
199s*
71)4
T u es.
23)4
84 9-16
84 9-16
97.67)4
85)4
10
118)4
107)4
121)4
97)4
187)4
79)4
158)4
49)4
88
38)4
56
46
153
144)4
43
75)4
54)4
26
136)4
54
92)4
90
157
70
81
48
52
34
136)4
32)4
70)4
199)4
107
70)4
129
22
57)4
79)4
W ed .
Thurs.
F r i.
23 7-16 23)4
23)4
84 11-10 8454
84 7 -:
84 11-16 84K
84)4
97.72)4 97.07)4 97.5(
84)4
83
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120
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37
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153
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76
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84:
[VOL. L X X X I X
THE CHRONICLE
C om m ercial mul fjJKi $ccl l a u coxxs JX cxus
W heat.
National Banks.—The following information regarding
national banks is from the office of the Comptroller of the
Currency. Treasury Department.
N A TIO N A L B A N K S O R G A N IZ E D .
J u n e 25 to J u n e 30.
9.460— The Broadway National Bank of S t. Louis, Missouri. Capital,
5200.000. F. E m cst Cramer, President; Snelson Chesncy, Vlcc1'resldent; p a in cl A . Siegfried, Cashier; H y. C. Menne, Assistant
Cashier.
9.461— -The M aytown National Bank .M aytow n, Pennsylvania. Capital,
825.000. George S. R hoads S r., President; Henry II. Engle,
Vice-President; Charles D . Zell, Cashier.
9.462— The National Bank of Fairmont; W est Virginia. Capital, $200,000.
.T. E. W atson, President: Jacob S. Hayden and W alton Miller,
Vice-Presidents; Glenn F . Barns, Cashier; John O. Morgan, Assistant
Cashier. Conversion o f the Bank o f Fairmont.
9.463— -The Farmers' National Bank o f Princeton, Indiana. Capital,
$100,000. Sam T . Heston, President; W . D . Downey, VlccPresklent; Frank M. Harris, Cashier; W . P. Anthony, Assistant
Cashier.
9,404— T h e First National Bank o f Sandstone, Minnesota. Capital,
$25,000. II. P . W ebb , President; George H . Newbert, Vlcci'resldent; A . S. Dean, Cashier. Conversion o f the Sandstone
State Bank.
9,465— The First National Bank o f Thayer, Kansas. Capital, $25,000.
H. Savage, President; J. W . Beach, C. C. Fraser, George W .
Uelwlx, Vice-Presidents; S. M. Pickens, Cashier: L. F. Elliott,
Assistant Cashier. Conversion of the Citizens’ State Bank of
Thayer.
9,460— C ity National Bank o f Omaha, Nebraska. Capital, $200,000.
John F. Black. President; J. A. Sunderland. Vice-President: W . S.
HUUs, Cashier. Conversion o f the C ity Savings Bank o f Omaha.
V O L U N T A R Y L IQ U ID A T IO N .
7,89.3— The First National Bank o f Kingston, Oklahoma, June 22, 1909.
7,103— National Bank o f Pond Creek, Oklahoma, May 7 1909.
7,207— 'T he Farmers’ National Bank of Lexington, Oklahoma, June 16 1909
7 , '407—-The Farmers’ National Bank o f Hubbard. Texas, June 24 1909.
7,412— The Farmers* National Bank o f Kingman, Kansas, June 30 1909.
IN SO LVE N T.
5,947— The D airym en’s National Bank o f Sheybogan Falls, Mlsconsin,
was placed in charge o f a receiver June 25 1909.
7,845— T he First National Bank o f S avoy, Texas, was placed in charge o f
a receiver June 30 1909.
Breadstuffs Figures Brought from Page 113.— The state
ments 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:
F lo u r.
RecelpOi at—
|
C orn .
W heat.
! B a rley.
Oats.
R y e.
60 lbs. bush. 56 lbs. bush. 32 lbs. bushASlbs. 6tt.50 lbs
I. 3,200 1,413,000. 1,160,085
394,500
11,000
153,231
173,800!
151,500
72,800
3.000
114,810
54,317
47,000
58,940
337
838,340
80,990
172,880
284,770
19,500
II , 500
61,200]
16,500
100
16,409
27,295'
31,216
53,675
144,986
82,006
’ 6,250
236,065
218,030
38,735
6,500
" i ‘ 66o
3,000
190,300
108,000
36,000
3.000
71.400
156,250;
4.3,500
M s . i o m s , bush.
Chlcag*----Milwaukee. Duluth____
Minneapolis.
(03,215
40,425
130,500
Detroit____
Cleveland - .
St. Louis. -.
Peoria _ . . . .
Kansas City.
3,420
1,288
19,5051
12,550
Tot.wk.’OO
Same wk. '08
Same wk. ’Of
X40.90S
289,05C
303,640
1,246,490
1,323,756
3,391.938
2,598,702
2.536,247 !
3,012,149
2,038,0341
2,146,416
2,238,5341
859,766
311,934
415,914
C om .
1909.
E xp orts.
North Amcr.
Russian----Danubian . .
Argentine . .
Australian. .
Indian------Oth. countr’s
1908.
1909.
1908.
W eek
J u ly 3.
Since
J u ly 1.
S in ce
J u ly 1.
W eek
J u ly 3.
S ince
J u ly 1.
J u ly
Bushels.
B ushels.
B u sh els.
B u sh els.
Bu sh els.
B u litis.
1.240.000
1.480.000
256.000
2.144.000
200.000
•->,.->12,000
208,000
Total........ 8,040,000
67,000
1.240.000 2.452.000
1.480.000
736.000 892.000
64,000 765.000
256.000
2.144.000 2.164.000 4,156,000
208.000
200.000
2.512.000 \ 224,000 i : : : : : :
208,000 1
\ ...........
67,000
892.000
765.000
4,156,000
5,880,000
5,848,000 5,880,000
8,040,000
wee
1.
56,003
246.000
170.000
2,711,000
3,183,000
mentioned was as follows:
C orn.
W heat.
U nited
K ingd om .
Continent.
Bushels.
B ushels.
T otal.
U nited
K in g d om .
C ontinent.
T otal.
B u sh els.
Bushels.
Bu sh els.
B u sh els.
July 3 1900.. 20,000,000 14.880.000 34.880.000 9.520.000 12.495.000 22.015.000
June 20 1909.. 22,000,000 15.520.000 37.520.000 8.160.000 12.410.000 20.570.000
July 4 1908.. 19,040,000 11.040.000 30.080.000 5,865,000 11.730.000 17.595.000
The visible supply of grain, comprising the stocks in
granary at principal points of accumulation at lake and
seaboard ports July 3 1909 was as follows:
AMERICAN GRAIN STOCKS.
W heat,
C o rn ,
Oats,
bush.
bush.
b u sh .
New Y o r k ....................
461,000
605.000
51.000
57,000
B oston ..........................
3,000
101,000
Philadelphia...... ...........................
106.000
5,000
Baltimore......................
22,000
137.000
201,000
New Orleans................
10,000
94.000
142.000
Galveston.......... ............................
14.000
Buffalo ........................
.328,000
788',656
324.000
T o le d o .....................
108,000
51.000
69.000
Detroit .............
161,000
53.000
156.000
Chicago...................
589,000
2,975,000
680.000
Milwaukee----------------183,000
120.000
55.000
Duluth---------------------- 2,457,000
206,000
117.000
Minneapolis...............
4,608,000
641.000
61.000
St. Louis - ....................
6,000
80.000
93.000
Kansas City..................
31,000
76.000
271.000
P e o ria --.------- ----------4,000
17.000
14.000
Indianapolis..................
5,000
34.000
55.000
391,000
On Lakes.................
605.000
35.000
On Canal and R iver.. .
335,000
233.000
227.000
Total July 3 1909. . 9,756,000
6,281,000
3,210,000
Total June 26 1909. -11.2SO.OOO
3.374.000
628,000 '
CANADIAN GRAIN STOCKS.
Montrcal__________
Fort William__ _____ .
Port Arthur................ Other Canadian.......... -
W heat,
bush.
C orn,
bush.
99,000
401 000
992 !000
653,000
Total July 3 1909. - 2,674,000
Total June 26 1909. - 2.716,000
W heat,
bush.
99,000
20,000
SUMMARY.
C orn,
bush.
liv e ,
bush.
B a rley,
bush.
123,000
1,000
.39,000
10,000
9.000
1.000
32,000
4.000
42',666
2.000
62,000
1,000
2,000
208,000
6,000
35.000
143,000
13.000
' i',666
17,000
157.000
170,000
Oats,
bush.
R y e,
bush.
...........
..........
498,000
498,000
561,000
55,000
649,000
697,000
B a rley,
bush.
145,000
...........
145,000
110,000
O ats,
bush.
R y e.
bush.
B a rley,
bush.
37,937
41,580
73.242
American----------------- - 9.756,000
Canadian-----------------
3,210,000
99,000
6,281,000
498,000
157,000
649,000
145,000
Since Aug. 1
1
|
1908-09.. . 19,067,052, 210,222,114 142,320,178 156,990,360 70,999,772 6.20.3,720
1907-08... I f ,142,591 203,224,061 114,720,990 177,083,680 60,696,189 6,504,936
1906-Of... 10,061,401 230,384,255 208,180,631 190,889,168 65,811,508 .736,575
Total July 3 1909.-12,430,000
Total June26 1909.. 1.3,996,0 0 0
3,309,000
3,394,000
0,779,000
6,848,000
157.000
170.000
794.000
813.000
the
w e e k e n d e d J u l y :i 1 9 0 9 f o l l o w :
R eceipts
F lou r.
bbls.
eu —
72,92.3
29,932
83,794
16,073
4,133
8,527
357
New York * ..........
B oston..................
Philadelphia * ___
Baltimore..............
Richm ond_______
New Orleans a*__
Newport News-----Galveston * _____
Mobile........ ..........
Montreal................
2,200
57,199
646,700
40,984
30,222
26.178
9,180
6,000
576,557
O ats,
bush.
30,500
26,207
14,662
31,567
33,888
42,700
308,975
80,070
115,730
34,127
11,910
33,500
...........
10,476
55,000
38.166
B arley,
bush.
R y e,
bush.
14,900
____
____
17,000
23’ 517
____
.........
-i"
33",669
Total week......... 225,138
1,335,821
245,000
622,412
48,569 40 517
Week 1908_______ 181,810
684,988
263,207
926,904
68,305 17’663
Since Jan. 1 1900--7,362,156 33,340,706 26,638,9.10 2.3,010,866 4072,637 370 752
Since Jan. 1 1008.-8,412,332 36,758,872 25,220,828 20,458,603 2629,728 10971450
* For (Ire days. « Receipts do not include grain passing through New Orleans
for foreign ports o* through bills of lading.
The exports from the several seaboard ports for the week
E xp orts front —
New Y o r k ______
Boston_________
Philadelphia____
Baltimore_______
New Orleans___
Newport NewB__
Galveston_______
Mobile__________
Montreal--..........
W heat,
hush.
MS,842
17,357
7.000
662.977
Total week___ 917,076
Week 1908_____ 1,490,684
C orn,
bush.
13,961
17,086
1,100
5,296
.4,089
..........
10,476
..........
F lou r,
bbls.
47,204
3,093
21,143
2,302
1,180
357
2,575
2,200
20,304
52,008 100,418
31,070 176,744
Oats,
bush.
11,542
_____
_____
70
226
______
_____
_____
...........
11,8.37
2,071
R y e,
bush.
____
____
----12,857
........
........
........
____
........
12,857
7,567
B a rley,
bush.
P ea s,
bush.
____
____
____
........
____
____
........
........
........
- .I I I
66,024
70
1,686
70
July 1 1008 is as below:
--------- F lour-
ur
.
W eek
E xp orts for w eek and
sin ce J u ly l to —-
United Kingdom__ .
.
.
.
Brlt. Nor. Am. Cols.
Other countries........ .
J u ly 3.
bbls.
-W h e a t-
l
1908.
J u ly
bbls.
49.754 ■ 5,177,868
11,887 2,106.950
18,947
677,223
19,751 1,429.069
75,974
79
371,035
W eek
J u l y 3.
bush.
484,234
428,340
4,502
-C o r n -
1 W eek
1908. J u l y 'i.
J u ly
bush.
bush.
59,994.547 17,086
47,414,221 4,286
483,391 1,939
17,710 27,991
_______ ...
75,30.3
706
84,2.38
1,244,019
15,590
72,584
.100,418 9,928,019 917,076 107,985,172 52,008
.176,714 11.585,264 1,490,684 114,215,323 31,076
The world's shipments of wheat and corn for the week
ending July 3 1909 and since July 1 in 1909 and 1908 are
show* i» fake following:
Bonds.
Stocks.
C orn,
bush.
W heat,
bush.
Auction Sales,— Among other securities, the following, not
regularly dealt in at the Board, were recently sold at auction.
By Messrs. Adrian H. Muller & Son:
$36,000 Consol. Lithograph Co.
120 Germania Fire Insurance C o ..225
Coll. tr. 5s, 1925, with April|
19# Union Bank of Brooklyn___ 100
9 American Exchange Nat. Bank.252
1909 and subsequent coupons l$10,000
attached...... ....................... _. I
1 1 Com Exchange Bank________ .3.3.3#
$3,600 Consol. Lithograph Co. 6s|
12 Importers' & Traders’ Nat. Bk.551
bond Int. note, 1912________j
17 National Bank of Commerce..185
25 National City Bank.......... .352-355# $5,000 Standard Motor Construc
tion Co. 1st 6s, 1927, M. & 8 .9 5 # &int
75 City Investing Co., com m on.. . 04
178 Nantucket Central UR, Co----- \$500
20 People's Trust Co.......... ..........295
$10,500 Nantucket Cent. HU. Co.6sJ lot.
2 Knickerbocker Trust Co........347
DIVIDENDS.
The following shows all the dividends announced for the
future by large or important corporations:
D iv id en d s a n n ou n ced th is xoeek a re p r in te d in i ta l i c s .____ _
Name, of C om pa ny,
P er
C en t.
W hen
P a yable.
Railroads (Steam).
Atch. Topeka * Santa Fc, pref. (No. 22).
2 # Aug.
Juiv
Atlantic Coast Line UR., common_____
3
A tla n tic & N orth C a ro lin a ............ .......
1 # July
Sept.
3
B a ltim ore <& Ohio, com m on ............ .
P r e fe r r e d ...........................................
Sept.
2
Canada Southern.................. .................
1 # Aug.
Aug.
Central R R. of New Jersey (quar.)..........
July
2
Chic. * Alton, pf. & prior lien A partlclp.
Clcve. Cln. Chic. A St. L., pref. (quar.)..
l H July
1 # Aug.
Cuba Railroad, preferred........ ................
2 # July
Delaware Lackawanna A Western............
July
Special ---------- ----------- ■........................ 50
Aug.
Stock Dividend......... ............................. 15
Denver A Rio Grarnic, pref.......................
2 # July
July
East Pennsylvania......................................
3
Great Northern (quar.)________________
1 # Aug.
July
2
Honking Valley, common and preferred..
July
Kansas City Southern, pref. (quar.)____
1
July
Lake Shore A Michigan Southern_______
0
Aug.
Guaranteed stk. (Mich. Sou. A N.Ind.)
6
July
Lehigh Valley, common......................
July
Common (extra)................................
1
Preferred ....................................
July
5
Little Schuylkill Nnv., RR. A Coal___
2 # July
Louisville & Nashville...............................
Aug.
3
Michigan Central.......... ........................
July
3
July
Mine II11I A Schuylkill Haven______
3
Minneapolis * St. Louis, preferred_____
2 # July
N. Y. Central A Hudson River (quar.)..
1 # July
New York Ontario A Western.......... .......
Aug.
2
Norfolk * Western, preferred..................
2
Aug.
Northern Central (No. 89)........................
July
4
Northern Pacific (quar.)............................
1H Aug.
Plttsb.Cin.Chlc. A St. Louis, common..
2
Aug.
P referred...............................................
2 # July
Reading Company, common.................. I
2
Aug.
First preferred.......................................
2
Sept.
B ooks Closed.
D a y s Inclu sive.
2 Holders of rcc. June 30a
10 June 23 to July 1 1
10 July 6 to July 9
1 Holders of rec. JuIvSla
1 Holders of n c. July 31a
2 Holders of rec. June 30
1 Holders of rcc. July 19
15 Holders of rcc. June 30a
20 Holders of rec. Juno 28
2 Holders of rec. June 30
20 Holders of rec. July 1
20 Holders of rcc. July 1
2 Holders of rcc. July 15
15 •June 27 to July 5
20 Holders of rcc. July 10
2 Holders of rec. July 9
19 Holders of rec. June 30
15 Holders of rec. July 6
29 Holders of rec. Juno 30
2 Holders of rcc. June 30
10 Holders of rec. June 26
10 Holders of rec. Juno 26
10 Holders of rcc. June 26
15 Juno 23 to
July 14
10 July 21 to
Aug. 10
29 Holders of rec. June 30
15 June 22 to July M
15 Holders of rec. June 30
15 Holders of rec. June 21
0 July 31 to
Aug. 9
18 Holders of rec. Aug. 4
15 Holders of rec. June 30
2 Holders of rcc. July 7a
10 Holders of rcc. Allg. 5
15 Holders of rcc. July 6
2 Holders of rec. July 15
10 Holders of rec. Aug. 24
THE CHRONICLE
J u l y 10 lo u u .j
P er
Cent.
N am e o f C om pa ny.
Railroads (Steam)—Concluded.
St. Louis & San Fran., flrst prof. (quar.).
St. Louis Southwestern, prcf. (No. 1)----Southern I’ aclllc, preferred (No. 1 0 )-----Texas Central, preferred............................
Wisconsin Central, preferred (quar.)----Street & Electric Railways.
Auburn * Syracuse El. RR., prof, (ou)
Aurora Elgin & Chicago, common (quar.)
Preferred (quar.)........ ........................
Boston & Northern Street Ry., preferred.
Boston Suburban Elec. Co., pref. (quar.)
Brooklyn City R lt. (quar.)____ _____ ___
Cin. Newport & Cov. Lt. & Tr., com. (qu)
Preferred (quar.).......... .........................
Consolidated Traction of New Jersey___
E a st St. L ou is tfk S u b ., p f . (q u .) (N o . 13).
El Paso Electric Co., pref. (No. 14)........
Johnstown Passenger Ry. (auar.)_______
Manchester Trac., Light & Power (quar.)
M ilw aukee E l. R y.< tk L t.,pfd .(qu .)(N o.3 Q )
M ontrea l Street R y . (q u a r .) _____ _____
N ew Hampshire. E lectric R y s., p referred . . .
New Orleans City R R., common..............
Preferred _____ ____________________
Old Colony Street R y., preferred............
Pacific Coast Power (No. 3 )............ .........
Philadelphia City Passenger R y............
Philadelphia Company, common (quar.).
Seattle Electric Co., common (No. 3 )___
Twin City Rap. Tran., Minn., com. (qu.)
Union Traction of Indiana, common___
United Itys. of St. Louis, pref. (quar.)
United Traction, Pittsburgh., preferred "
Wheeling Traction................. .............. *"
Banks.
R eserve, N a tion a l ........ ...............................
Trust Companies.
N a ssa u , B rooklyn (q u a r .) ..........................
Miscellaneous.
American Cement (No. 2 0 ) ........................
American Chicle, common (monthly)
Common (extra)........ ............................
American Glue, preferred____ _________
American Locomotive, preferred (quar.).
American Shipbuilding, pref. (quar.)___
Amer. Smelt. & Ret., com. (qu.) (No. 23)
Amer. Telephone * Telegraph (quar.)__
Amer. Type Founders, com. (quar.)___
Preferred (quar.)....................................
American Woolen pref. (quar.) (No. 41)
Anaconda Copper Min. (quar.) (No. 35).
Ass)clatcd Merchants, la, pref. (quar.) _
First preferred (extra)............................
Second preferred (quar.)........................
Second preferred (extra)........................
Bell Telephone of Canada (quar.)_______
Bell Telephone of Pennsylvania (quar.)..
Binqham ton Light, H eat A- P . , corn, (q u .)
P referred (quar. ) .............. ; .....................
Central Coal & Coke, common (quar.)__
Preferred (quar.)....................................
Central Dlst. A Printing Tclcg. (quar.)..
Clafiln (II. B.), common (quar.)............ ..
Corn Products Refining, pref. (q u a r.)...
Detroit Edison (quar.) (No. 1)..................
Dlstlllers’ Securltcs Corp. (qu.) (No. 27).
Distilling Co. of America, pref. (q u a r.)...
du Pont do Ncm. Powd., pref. (quar.)..
E astm an K od a k , com m on (q u a r .) ________
C om m on (ex tr a ) ...................... ..... ...........
Preferred (q u a r .) .............
E lectric Bond & Share, p ref. ( q u a r .) ____
General Electric (quar.)______ _____ ..2
Ilarblson-XValkcr R efractories, p fd . ( q
u
Int.Button-Hole Sew.Mach.(qu.) (No.47)
International Nickel, common (No. 1)__
Preferred (quar.)................................
International Paper, preferred (quar.) .1
Internal. Steam P u m p , p ref. (qu.) (N o . 41)
La Rose Consolidated Mines (quar.)____
Extra .........
Massachusetts Gas Companies, com____
Massachusetts Lighting Cos. (quar.)........
Extra................ ......................................
Mexican Light & Power, Ltd., ordinary .
Mexican Telegraph (quar.)........................
Michigan State Telephone, pref. (quar.).
M in n ea p olis G en . E le c ., com . (N o . 8 ) ____
P referred (N o . 21).........
National Biscuit, com. (quar.) (No. 4 3 )..
N ational Carbon, com . (q u a r.) ..................
New England Tolep. A Teleg. (quar.)__
New York Mutual Gas Light...................
N. Y. & N J. Telephone (quar.)..............
N . Y . A- Queens E l. L . <t- P a w ., p r e f ..........
Nlptsslng Mines (quar.).........................
Extra .............. .......... ...........................
N ova S cotia Steel it C oal, L td ., p / .( q u .) ..
Oklahoma Gas & Electric, pref. (quar.)..
Osceola Consolidated Mining___________
Otis Elevator, preferred (q u a r.).............
P a cific Coast C o ., com . (q u a r .) ..................
F irst preferred (q u a r .) .............. - ...........
Second p ref err crl (q u a r .) ..........................
P eop le’s Gas Light it Coke (q u a r.) ..............
Procter A Gamble, preferred (quar.)___
Quaker Oats, common (quar.)__________
Common (extra)................................
Quincy Gas, Electric .t Heating (No. 2 ).
Realty Associates (No. 13)
..........
Recce Button-Hole Mach, (qu.) (No. 93)
Rhode Island Perkins Horseshoe, pf .(qu.)
San Diego Cons. Gas & Elec., pref. (qu.).
Sears, R oebuck it C o ., com m on ( q u a r . ) . . .
Securities Company..................................
Shnwlnlgan Water & Power (quar.)____
Standard Underground Cable (quar.)___
Stetson (J. B.), common............................
Preferred.................................................
Street’s West.Stable-Car Line, com. (qu.)
Swift & Co. (auar.)..................................
Union nag & Paper, pref. (quar.) (No.41)
Union Switch & Signal, com. & pf. (qu.).
United Fruit (quar.) (No. 40)
United Gas & Elec, of New Jersey, p ref..
United Gas Improvement (quar.)---------U. 8. Rubber, flrst preferred (quar.)___
Second preferred (quar.)........................
U. S. Smelt, Ref. & Min., com. (quar.)..
Preferred (quar.)...................................
Utah Consolidated Mining (quar.)----- J ..
Va.-Caro. Chem., pref. (auar.) (No. 5 5 )..
Vulcan Detlnnlng, preferred (quar.)------Wells, Fargo & Co.....................................
West. Union Teleg. (quar.) (No. 161)..
Westlnghouso Air Brake (quar.)________
W h ite (J . G .) it C o ., p ref. (q u a r,) ............
aTransfcr books not «k>scd.
the first Instalment.
b
1
2
3X
2X
1
W hen
Pa yable.
Aug.
July
July
July
July
Statement o£ New York City Clearing-House Banks.— Thedetailed statement below shows the condition of the New
York Clearing-House banks for the week ending July
The figures for the separate banks are the averages of the
daily results. In the case of the totals, the actual figures
at the end of the week are also given.
B ook s Closed.
D a ys In clu sive.
2 Holders of rcc.
15 Julv 7 to
15 Holders Of rcc.
15 July 3 to
15 Holders of rec.
85
Julyl7a
July 15
Junc30a
July 15
July la
W e om it two ciphers
July
July
July
3
Aug.
75c. July
July
2X
1
July
1Vs July
2
July
Aug.
3
July
July
X
2
July
IK July
Aug.
2X
1
July
SI
July
S2J-S July
3
Aug.
2
July
$3.75 July
1H Aug.
$.5
July
1X Aug.
July
X
July
IX
July
2X
1
July
IX
X
IX
15 Holders of rec. June
10
10
1 Holders of rec. July
15 Holders of rec. Juno
15 July 2 to July
15 July 1 to July
15 July l to July
15 July 1 to July
1 Holders of rec. July
12 Holders of rec. July
31 llolder« of ree luly
15 Holders of rcc. July
31 Holders of rcc. July
2 Holders of rec. July
31 July 21 to
Aug.
10 July 1 to July
10 July 1 to July
1 Holders of rcc. July
16 Holders of rec. July
Juno 29 to July
Holders of rcc. July
Holders of rcc. July
Holders of rcc. July
July
4 to
July
June 26 to
July
Holders of rcc. July
July
2 to
July
17
30
15
15
15
14
15
2
31
1
20
10
1
9
9
17
6
11
I
6
21
11
11
10
15
3
July
2
Aug.
2 July
28 to
Aug.
July
July
July
S I Aug.
IX
July
X X July
I
July
2
July
1
July
1 % July
X X July
50c. July
X X July
X
July
1X
July
X
July
2
July
XX July
X
July
X X July
l w; July
xX
July
2
July
2
July
1
July
l
July
X
July
1
July
X X July
2X
Oct.
5
Sept.
jiz Oct.
XX
Aug.
July
i u July
x
July
l
Sept.
Aug.
x
July
XX Aug.
3
July
l
July
i*
AUg.
XX July
x
July
1
July
2 X July
X X Aug.
2
Aug.
3
Aug.
X X July
1
July
X X July
3
July
X X July
2X
Aug.
3
July
2
July
2
July
X X July
S I July
X X July
1
Aug.
X X Aug.
1
Aug.
X X Aug.
2
July
X X July
X
July
1
July
3
July
2
July
1
July
1X July
1
Aug.
2 X July
1
July
July
3
July
10
July
4
July
1
X X July
July
1
July
3
July
2
July
2X
2
July
2 July
July
1* July
July
IX
50c. July
2 July
July
IX
5
July
July
X
July
2X
Aug.
ix
July
11 to
July 25
3
1
i
15 Holders of rcc. July 10
1
Holders of rcc. July 19
July 7
to July 21
July 2 to July 15
June 20 to June 30
Holders of ree. June 30
Holders of rcc. July 10
Holders of ree. July 10
June 26 to July 16
Holders of rcc. July 2
July 7 to July 15
July 7 to July 15
July 7 to July 15
July 7 to July 15
Holders of rcc. Juno 25
July 7 to July 15
Holders of rcc. June 30
Holders of rcc. June 30
July 1 to July 15
luly 1 to July 15
July 25 to Aug. 1
July 4 to July 15
Holders of rcc. June30a
Holders of rcc. July la
Holders of rcc. JulylOa
Holders of rec. July 10
Holders of rcc. July 15
Holders Of rec. Aug. 31
Holders of rcc. July 31
Holders of rcc. Aug. 31
July 17 to Aug. 1
Holders of rec. June 3
Holders of rcc. July 10
Holders of rec. July 3
Aug. 11 to Sept. 1
July 11 to Aug. 2
Holders of rec. July la
July 21 to Aug. 2
ah July
^my 2 to July 20
20l.Iuly 2 to July 20
2IIolders of rcc. July 17
151........................................
1 5 ........................................
15 July 9 to July 15
15iIIolders of rcc. Junc30a
2 July 18 to Aug. 2
2 Holders of rec. July 15
2 Holders of rcc. July 15
Holders of rec. Junc28a
July 4 to July 15
Holders of rcc. June 30
Holders of rcc. June 28
Holders of rcc. July 6
Holders of rec. July 31
July 1 to July II
July 1 to July 14
July 1 to July 5
July 6 to July 15
Holders of rec. July 3
Holders of rcc. Juno 30
July 16 to Aug. 2
July 16 to Aug. 2
July 16 to Aug. 2
Holders of rec. July 31
Holders of rec. June30a
Holders of rcc. July 3a
Holders of rec. July 3a
Holders of rec. July 1
Holders of rec. July 5
Holders of rcc. July 3
Holders of rec. July 1
July 6 to July 15
Holders of rcc. Aug. 1
July 1 to Julv 15
Holders of rcc. July 7
Holders of rec. July 5
July 16 to July 26
Holders of rec. June 12
Holders of rcc. Juno 30
July 1 to July 10
Holders of rcc. June 26
July 2 to July 14
Holders of rcc. June 30
Holders of rec. Julyl5a
Holders of rec. JulylSa
Holders of rcc. June 30
Holders of rcc. June 30
Juno 24 to July
1
July 1 to July 21
Holders of rec. July 9a
July 4 to July 15
Holders of rec. June 19
July
1 to July 10
Holders of rcc. July 24
Declared 3% for coming year, of which this Is
<<)0) in all cases.
30
B a n k s.
00s om itted.
Capital.
S u rp lus.
5
2,000,0 3,452,5
2.050.0 3.567.7
2,000,0
1.692.7
3.000.
0
3.701.3
1.500.0 5.178.4
1.000.
0
680.3
25.000. 27,811,3
0
3.000.
0
5.958.3
600,0
554.5
1.000. 0 2.419.0
300.0
157.6
500.0
755.1
5.000.
0
5.051.3
15.722.1
25.000.
0
3.000.
0
2.495.7
500.0
864.8
1.024.4
450.0
200.0
470.5
3.000.
0
10,747,5
2,550’ 0 1.484.5
500.0
435.8
1.000. 0 1.674.0
2,000,0
1.309.7
3.000.
0
5.372.3
1.500.0 7.554.5
3.000.
0
9.792.8
250.0
104.3
3.000.
0
3.399.6
1.000. 0 1.868.6
10,000,0 18.968.1
2,000,0
1.450.4
250.0
789.7
500.0
1.631.2
750.0
656.2
5.000.
0
6.655.1
100.0 2,178,6
200,0
857.6
200,0
1.020.9
1.000.0 1.312.4
1,000,0
1,160,8
250.0
475.4
1,000,0 2.020.2
200.0
1.087.3
1,000,0
1.782.1
1,000,0 2.610.4
1,000,0
687.2
1,000,0
810.3
1,000,0
320,1
2,000,0 2,675,0
$
Bank of N. Y _
Manhattan Co.
Merchants’ __
Mechanics’ __
Am erica____
Phcnlx ............
City . . ............
Chemical_____
Merchants’ E x.
Gallatin........ .
Butch. & Drov.
Greenwich___
Amer. Exch__
Commerce____
Mercantile___
Pacific............
Chatham_____
Peoples’ ______
n a n over______
Citizens’ Cent..
Nassau_______
Market & Ful’n
Metropolitan . .
Com Exchange.
Imp. & Traders'
P a rk .................
East River___
F ou rth _______
S econd _______
First ................
Irving E x c h ...
B ow ery______
N .Y . County..
German-Amor .
Chase___
Fifth Avenue..
German E xch ..
Germania____
Lincoln . .
Garfield .
F ifth ___
Metropolis___
West Side
Seaboard..........
Liberty . .
N. Y. Prod. Ex.
State_________
14th Street___
Copper _______
L oa n s.
A v erage.
S p ecie.
Lcgals
A v erage. A v erage.
$
20.718.0
38.200.0
22.098.0
32.425.0
30.426.1
7.617.0
192,935,9
29.143.3
7.153.7
9,469,6
2,294,9
7.468.8
30.055.8
176,627,8
15.517.6
4.179.5
7.812.8
1.932.6
63.229.9
23.828.2
5.673.5
8.041.9
10,813,5
45.045.0
26.835.0
90.633.7
1.430.6
25.866.0
11.394.0
115,032,7
20.154.2
3.381.0
8.452.5
4.073.6
80.862.0
12.808.3
3.578.7
4.966.3
16,112,1
7.665.1
3.191.3
11,825,4
4.548.0
19.613.0
17,442,3
7.796.2
12.415.0
5.049.0
27,425,9
$
3
3.821.0 1.340.0
14.167.0 1.600.0
4.277.0 1.982.0
8.020.0 1.493.0
7,290,6 2.294.0
1.294.0
417.0
63.382.4 8.558.0
5.195.5 2.255.3
1.297.6
599.1
1,168,8
748.8
410.9
146.5
1.801.4
200,0
4.308.1 2,566,8
32.439.7 10,771,3
2.128.9 1.167.5
371.9
530.1
1.253.5
979.5
606.2
134 J)
15,000,8 7.398.2
5.971.9
321.2
427,7 1.120.0
1.625.1 1.148.6
2.884.7
149.9
7.248.0 5.657.0
4.995.0 1.631.0
25.372.0 1.379.4
253.0
154.1
5.308.0 2.516.0
2.920.0
199.0
27.377.5 1.587.4
3.725.7 1.666.4
833.0
05,0
1.267.3
633.6
827.0
213.6
17.067.0 5.229.0
949.4
2.906.8
365.0
651,0J
905,4
536,61
3.533.9
937.5
221.2
1.819.0
681.0
200.9
1.018.9 2.031.0
1.194.0
233.0
4.187.0 1.903.0
3.459.4 1.088.2
452,2
1.928.7
3.694.0
263.0
1.109.5
484.8
7,067,3
249.8
D ep osits.
A v erage.
R cs’ re .
*
19.230.0 26.5
50.012.0 31.3
24.272.0 25.7
35.740.0 26.6
34,280,9 27.9
0,880,0 25.5
213.295.6 33.7
28.440.3 26.4
7,650,8 24.8
7.478.2 25.6
2.389.0 23.3
8.431.2 24.4
24.265.8 28.6
105.471.9 26.1
12.687.9 26.0
3.867.5 23.3
8.574.6 26.0
2.581.4 28.6
82,176,2 27.3
24.254.9 26.1
6.184.4 25.0
8.719.7 31.8
10.963.4 27.6
52.821.0 24.4
25.169.7 26.3
104.169.7 25.6
1.608.0 25.3
27.291.0 28.6
12.139.0 25.6
110,808,1 26.1
21.115.7 25.5
3.500.0 25.6
8.489.0 23.0
3.954.4 26.3
89.373.0 25.0
14.457.0 26.6
4.030.1 25.2
5.737.4 25.1
17,582,4 25.4
7,745,6 26.2
3.467.9 25.5
11.975.9 25.4
5.174.0 27.5
23.227.0 26.2
17.392.7 26.2
9.296.1 25.6
15.542.0 25.4
6,218,0 25.6
29.184.0 25.0
Totals, Average 126,350,0 174,450,1 1340,200,3 310,263,1 79,056,9 1419,315,7 27.4
Actual figures July 3
1357.556,0 307,650,6 77.848,8 1433,192,0 26.9
On the basis of averages, circulation amounted to $49,033,200 and United States
deposits (Included In deposits) to $2,259,900; actual figures July 3, circulation
$49,174,900; United States deposits, $2,262,800.
The State Banking Department also now furnishes weekly
returns of the State banks and trust companies under its
charge. These returns cover all the institutions of this class
in the whole State, but the figures are compiled so as to
distinguish between the results for New York City (Greater
New York) and those for the rest of the State, as per the
following:
STATE BANKS AND TRUST COMPANIES.
W eek ended J u ly
3.
State B anks
T ru st C os.
State B a nks
T rust C os.
in
in
outside of
outside of
Greater N . Y . Greater N . Y . Greater N . Y . Greater N . I".
25,975,000
3
69,675,000
37,306,000
$
Capital as of April 28___
Surplus as of April 28___
S
8,598,000
$
7,725,000
173,921,500
10,316,230
9,786,676
Loans and Investments..
Change from last week.
303,646,900 1,087,600,600
+ 1,146,000 +24,740.600
83,825,600
— 265,000
128,788,900
+ 116,700
Specie ..............................
Change from last week.
55,759,800
+ 2,435,800
122,216,100
+203,400
Legal-tenders & bk. notes
Change from last week.
26,685,900
—95,700
13,758,800
+ 48,300
Change from last week.
365,513,400 1,266,832,900
+3,671,200 +35,062.800
87,735,400
+ 402,400
138,594,500
+ 1,290,300
Change from last week.
110,898,400
+£,676,300
144,205,400
+ 1,053,600
17,804,300
— 58,300
+ 688,300
P. C. reserve to deposits..
Percentage last week___
30.8%
30.4%
17.0%
17.1%
20.9%
21.1%
15.7%
15.3%
+ Increase over last week.
—Decrease from last week.
N ote. — "Surplus”
Includes all undivided profits. "Reserve on deposits” In
cludes, for both trust companies and State banks, not only cash Items but amounts
due from reserve agents. Trust companies In New York State are required by
law to keep a reserve proportionate to their deposits, the ratio varying according
to location as shown below. The percentage of reserve required Is computed on
the aggregate of deposits, exclusive of moneys held In trust and not payable within
thirty days, and also exclusive of time deposits not payable within 30 days, repre
sented by certificates, and also exclusive of deposits secured by bonds of the State
of New York. The State Banks are likewise required to keep a reserve varying
according to location, but In this case the reserve Is computed on the whole amount
of deposits, exclusive of deposits secured by bonds of the State of New York.
R eserve R equired for T rust Com panies
— T rust C os .—
— State B a n ks—
and State B a n k s.
L ocation —
Total
Of
Total
Of
R eserve, which
R eserve which
R equired. In Cash .R equired. In Cash
Manhattan Borough............................................... 15%
Brooklyn Borough (without branches In Manhat.) 15%
Other Boroughs (without branches In Manhattan). 15%
Any Borough with branches In Manhattan______15%
Elsewhere In State................................................... 10%
15%
10 %
10%
15%
5%
25%
20%
15%
25%
15%
15%
10%
7X%
15%
6%
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 C lea rin g
86
THE CHRONICLE
H ou se.
These figures are shown in the table below, as are
also the results (both actual and average) for the Clearing
house 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
Greater New York.
NEW YORIC(CITY BANKS AND TRUST COMPANIES.
W eek ended J u ly
Total o f all
Clear .-H ou se Stale B anks A
T rust C os. not Banks & Trust
B an ks.
In C .-H . A v er. Cos. Average.
A v era g e.
C lea r.-H ou se
B a n k s.
A ctu a lF ig u rcs
3.
Capital as of April 28.
$
126,350,000
S
126,350,000
Surplus as of April 28.
172,318,900
172,318,900
Loans and Investments 1,357,556,000 1,340,200,300
+ 238,200
Change from last week + 26,047,100
S
69,700,000
$
196,050,000
182,845,100
355,164.000
1,177.026,600 2,517,226,900
+ 24,728,100 + 24,966,300
Deposits . --------------- 1,433,192,000 1,419,315,700 a l ,150,218,900 2,569,534,600
+3,117,900 +27,417,600 +30.535,500
Change from last week + 22,038,600
fV O L . L X X X IX
(00) In all Iheso flg-ures.
W e om it two ciphers
B a n k s.
C a pital
and
S u rp lus.
L egals.
S p ecie.
L oa n s.
D ep osits,
a C ircu
Clearings.
la tion .
•3
27.584.0
27.600.0
26.417.0
24.706.0
$
211.857.0
212.959.0
215.938.0
218.065.0
3
Boston.
Juno 12.. 41.790.0
June 19.- 41.790.0
June 2 6 .. 41.790.0
July 3 .. 40.300.0
Phils.
June 12.. 54.390.0
June 19.. 54.390.0
June 2 6 .. 54.390.0
July 3 .. 56.315.0
85, V >5,0
82,7 2,0
80,03 9.0
79,91 1.0
268.434.0
269.401.0
270.037.0
271.432.0
S
276.691.0
278.940.0
273.308.0
274.618.0
$
7.597.0
7.594.0
7.588.0
7.624.0
$
155,885,1
145.324.6
152.378.5
174.228.5
330.278.0
329.700.0
324.780.0
328.413.0
15.337.0
15.529.0
15.714.0
15.858.0
132,466,9
132,007,8
118.999.7
143.255.6
S
4.456.0
4.574.0
4.827.0
4.679.0
a Including Government deposits and the Item “ due to other banks." At Boston
Government deposits amounted to $2,249,000 on July 3, against S2,234,000 on
June 26.
Imports and Exports for the Week.— The following are
the imports at New York for the week ending July il; also
totals since the beginning of the first week ip January:
FOREIGN IMPORTS AT NEW YORK.
Specie . ...... ...............
Change from last week
307,050,600
— 4,056,900
310,268,100
+ 2,561,200
128,392,600
— 1,100
438,660,700
+ 2,557,100
Legal-tenders ..............
Change from last week
77,848,800
— 1,439,300
79,056,900
— 232,200
622,825,000
— 145,900
Aggr’ te money holdings 385,499,400
Change from last week — 5,496,200
Money on deposit with
A other
trust cos.
bks. __________
Change from last week
...........- —
389,325,000
+ 2,329,000
6151,217,600
— 150,000
____ - - - - . . . ----- . . .
29,932,800
+ 559,100
385,499,400
— 5,496,200
3S9,325.0001
+ 2,329,0001
181,150,400
+ 409,100
101,881,900 Dry Goods------------------------$3,000,718 $1,794,718: $2,985,078 $2,863,889
10,815,929
— 378,100 , General Merchandise............
7,511,657
13,593,839
13,135,714
540,542,600
T o t a l.................................. $16,136,432 $9,306,375 $16,559,517 $13,679,818
+ 2,179,000
S in ce J a n u a ry 1.
Dry Goods.............................. $85,904,995 S58;610.140 $94,645,240 S80.337.07S
29,932,S00 General Merchandise.......... 350,069,015 248,833,788 364,724,931 300,313,787
+ 559,100
Total 26 weeks.................. $435,974,010 $307,443,934^5458.770,171 $380,650,865
570,475,400
+ 2,738,100
26.94%
27.75%
27.46%
27.36%
18.90%
19.10%
27.201,400
34,496,075i
Total reserve.......... Change from last week
Percentage to deposits
requiring reserve----Percentage last week..
1908.
1909.
F o r w eek.
1906.
IDOT.
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending July 3 and from Jan. 1 to date:
+ Increase over last week. — Decrease from last week.
These are the deposits after eliminating the Item “ Due from reserve deposi
tories and other banks and trust companies In New York City:" with this item
Included, deposits amounted to $1,381,892,300, an Increase of $34,846,000 over
last week. In the case of the Clearing-House banks, the deposits are “ net" both
for the average and the actual figures, ft includes bank notes, c Of this amount
> tate banks held $15,442,700 and trust companies $135,774,900.
EXPORTS FROM NEW YO RK FOR THE WI414K.
a
Previously reported..............
1906.
toor.
1909
j
1908.
$7,693,759
$11,747,200 $8,829,882 $7,963,314
304,139,143 330,027,282 309,047.071 295,315,723
$315,886,343 $238,857,164 $317,010,385 $303,009,482
The averages of the New York Clearing-House banks
The following table shows the exports and imports of
com bin ed with those for the State banks and trust companies
in Greater New York outside of the Clearing House compare specie at the Port of New York for the week ending July 3
and since Jan. 1 1909, and for the corresponding periods
as follows for a series of weeks past:
in 1908 and 1907:
COMBINED RESULTS OF BANKS AND TRUST COMPANIES IN
GREATER NEW YO RK .
EXPORTS AND IMPORTS OF SPECIE AT NHVT YORK.
W e om it two ciphers In all these figu res.
W eek
E nded.
May
May
May
June
June
June
June
July
L oa n s and
Investm ents.
1 5 ..
2 2 ..
2 9 ..
5 -1 2..
19..
2 6 ..
3 ..
S
2.461.649.6
2.459.307.3
2.461.472.7
2.479.185.3
2,500,556,2
2,518,640,1
2,492,260,6
2,517,226,9
S p ecie.
D ep osits.
$
2.475.794.3
2.478.555.7
2,489,605,9
2.505.071.5
2.533.592.3
2.561.805.8
2,538,999,1
2.569.534.6
S
409,301,0
415,344,4
420,779,9
419.507.2
422.827.3
429,725,7
436.103.6
438.660.7
99.970.9
99,866.2
100.163.4
98.665,0
101.540.4
101.786.9
102,260,0
101.881.9
5
509,271,9
515.210.6
520,943.3
518,172,2
524.367.7
531.512.6
538.363.6
540.542.6
S
536.680,0
542,708,9
548.326,7
547,852,4
553.712.2
560.952.3
567.737.3
570.475.4
Reports of Non-Member Banks.— The following is the
statement of condition of the non-member banks for the
week ending July 3, based on average daily results.
W e om it two ciphers
C a p i
tal.
S u r
p lu s.
L oa ns,
D lsc'ts
and
Invest
m ents.
(00) in all these fig u res.
L egal
Tender
S p ecie.
and
B a nk
N otes.
Other
N et
B a n k s, D eposits.
A c.
N. Y. City.
norou gh s of
M a n .A B rx.
$
$
$
58,0
136,0
23,4 255,0
619,9 304,9
671,0 624,0
84,2
66,6
12,8 498,8
29,4
520,3
39,1
716,9
329,0 367,0
164,0
59,6
940,4 1,275,0
58,8 833,5
437,0
908,0
69,0
209,0
57,3
181,9
31,3
456,5
5
514,0
120,3
435,9
887,0
120,2
213,6
340,1
465,2
716,0
267,9
414,6
436,9
700,0
226,0
78,0
174,7
524,3 3,180,5
200,0
Broadway .
787,0 6,092,0
Mfrs.' Nat.
252,0
933,9 10,690,5
Mechanics1 1,000,0
Nassau Na
954,5 6,801,0
750,0
Nat. C ity..
300,0 ' 598,5 4.377,0
North Side.
200,0
141,8 1,678,2
427,3
24,1
122,8
671,0
277,2 1,678,1
290,0 562,0
115,0 646,0
168,5
37,2
224,4
992,2
1,112,4
1,293,0
718,0
292,6
First Nat..
Hud.Co.Nai
Third Nat..
272,5
173,1
68,7
446,8
28,3
129,8
2,876,6
207,9
590,0
906,0
276,9
37,7
7,153,9
2,886,4
2,337,3
110,9
76,0
9,5
80,9
146,4
71,8
64,5
318,2
2,419,3
2,784,2
S
$
$
228,2 1,195,0
100,0
Wash. IPts
149,6 1,503,9
200,0
Century __
249,4 4,910,7
400,0
Colonial__
439,7 5,788,0
300,0
Columbia - .
979.4
182,7
200,0
Fidelity . . .
500,0 ' 684,2 3,251,1
Jefferson__
284,2 2,663,9
250,0
Mt. Morris.
318,7 4,046,2
200,0
Mutual----402,2 3,784,0
100,0
Plaza ........
200,0
93,8 1,829,6
23d W ard..
960,4 8,415,0
Un. Ex. Nat 1,000,0
100,0
439,9 3,961,3
Yorkvlllc . .
757,6 5,243,0
Coal&I. Nat 500,0
241,5 1,964,0
New Nethld 200,0
142,0 1,153,0
200,0
Batt Pk.Nat
314,2 1,995,6
300,0
Aetna Nat.
Borough of
B rooklgn .
Jersey City
Hoboken.
First Nat.
Tot July
400,0
250,0
200,0
1,230,6
720,5
372,9
220,0
125,0
626,1
244,3
4,567,7
2,955,8
1,766,5
2,901,3
2,306,1
_________
168,8
656,1
_________
_________
230,7
86,6
5,1
________
150,0
140,0
25,0
"Vo",6
5
1,249,0
1,931,5
6,392,5
7,384,0
982,0
3,552,5
3,443,8
4,806,2
4,661,0
2,150,2
8,662,4
5,324.5
5,826,0
2,073,0
1,054,7
1,870,6
365,7 3,929,3
253,4 7,069,3
258,7 14,090,5
—
7,193,0
158,0 5,638,0
220,7 2,145.9
8,647,0 13,023,6 100000,3 7,470,0 9,983,3 14,651,3 4,362,1 119011,0
8,647.0 12,907,2 99,757,3 7,786,2 10256,2 13,237,1 4,436,7 117644,3
8,647,0 12,907,2 99,585,8 7,756,3 9,983,8 14,943,1 4,798,0|U9432,6
Boston and Philadelphia Bank3.— Below is a summary of
the weekly totals of the Clearing-House banks of Boston and
Philadelphia.
W eek .
Great Britain-----------------------------France -------------------------------------Germany .........................................
West Indies........ ...............................
Mexico -------------------------------------South America.............. ...................
All other countries............................
S ince J a n . 1.
South America..................................
All other countries...... .....................
Total 1907.....................................
$0,333
5,943
559
■11.080
8,524
32,117
24,167
2,027,815
5,000
Vo",666 26,542,440
2,000,000 4,030,195
" 5",666
$122,102
2,140,675
8,228
365,671
329,042
1,362,251
1,273,850
$118,723 $5,601,819
130,611 11,381,301
12,624
5,922,898
$8,788
449
2,443
720
41,566
1,528
24,463
1,340
28,029
175
S tn eeJ a n . 1.
W eek .
$13,958,120
$977,666 13,881,232
Total 1909...................................... $2,992,000 $60,444,802
305,343 46,073,744
Total 1 9 0 8 ...................................
Total 1907...................................... 1,487,400 27,955,917
Silver.
$697,545 $21,066,299
Great Britain.................. .................
151,000 2,283,750
France _________________________
9,047
98,302
5,650
West Indies.................. - ...................
D ep osit with —
Clear
ing
A g en t.
Im ports.
E xp orts.
Gold.
T ot. M o n ey E ntire R es.
H oldings. on D eposits
L egals.
$141,913
5,104
37,787
77,529
1,276,037
557,093
553,986
$79,957 $2,649,449
1,622,140
09,468
4,974
1.037.035
$854,370 S23.487.373
380,928 20,665,663
857,816 22,033,504
Of the above imports for the week in 1909, $43,870
were American gold coin and $35 American silver coin.
Of the exports during the same time, $2,015,000 were Ameri
can gold coin and $5,000 were American silver coin.
gattM nm atixl K itrettciaL
We shall be pleased to furnish to Institutions and investors copies
of our special circular describing
43 R A IL R O A D BONDS
Listed upon the Now York Stock Exchange
Spencer T ra sk & Go*
W IL L IA M AND PINE STS..
NEW Y O R K
Branch offices: Chicago, III., and A lbany, N. Y.
M
o
f
f
a
t
&
W
h
i
t
e
BANKERS
Members New York Stock Exchange
THE RO O K ERY
5 NASSAU S T R E E T .
OHIOAGO
N EW Y O R K
IMPORTS AND EXPORTS
International Banking Corporation
NO. 60 W A L L STREET. NEW YO RK
Capital & Surplus. $6,500,000
Special facilities for Traveler*
Branches at Home and A broad.
in all ports of the W orld.
THE CHRONICLE
J u l y t o 19 09. J
j&mhcrs' ffiaygjette.
W a ll S treet, F r id a y N ig h t, J u ly 9 1909.
The Money Market and Financial Situation.— There lias
been only n slight increase in the daily volume of business
at the Stock Exchange, notwithstanding the three days’
holiday which intervened between the close last week and
the opening on Tuesday. Opening prices were generally
about on a level with those of last Friday, and the range
subsequently covered is a narrow one in most cases.
The exceptionally favorable crop report, issued on Thurs
day by the Government as of July 1, had evidently been
discounted in the security markets, as no upward movement
of prices followed. The importance of the matter of pros
pective crops is not likely to be over-estimated, however, in
view of agricultural conditions in other cereal-growing
countries and the practical certainty that all our surplus
grain will be wanted abroad at high prices.
A demand for money, perhaps in part for interest pay
ments, but evidently also for harvesting purposes, is making
itself felt, especially in the West. There is more inquiry for
loans at several important centres, and the receipts of cur
rency in this city from the interior are relatively smaller.
There is as yet, however, very little, if any, change in rates.
This will doubtless come later. The Bank of England’s
weekly report shows that the decrease in the Bank’s per
centage of reserve reported last week, which was incident to
the half-yearly settlements, has been largely recovered.
Shipments of gold from this port this week amount to
$3,350,000, all to Argentina.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from 1 % to 1 % % . To-day’s rates on call were 1% @ 1 % % .
Commercial paper quoted at 3 @ 3 % % for GO to 90 day en
dorsements, 3 % @ 3 % % for prime and 4 to G months’ single
names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £36,289 and the percentage
of reserve to liabilities was 48.82, against 41.40 last week.
The rate of discount remains unchanged at 2 % % , as fixed
April 1. The Bank of France shows an increase of 1,275,000
francs gold and 175,000 francs silver.
NEW YORK CITY CLEARING-HOUSE BANKS.
1909.
A v erages for
w eek ending
J u ly 3.
Loans and discounts. .
Circulation . . . . . ........
Net deposits. ----------U. S. (icp. (Incl. above)
Specie . . . ............ ..
Legal tenders...... .........
1908.
D ifferen ces
from
previous w eek.
A v erages for
w eek ending
J u ly 3-
1907.
Averages for
week ending
J u ly 6.
$
S
$ ,
S
126,350,00(1
126,350,000 129,100,000
174,450,100
165,169,100 101.720,600
1,340,200,300 Inc.
238,200 1,241,096,500 1,115.724,300
50,396,400
49,033,200 Dec.
130,000
56,469,900
1,4X9,315,700 Inc. 3,117,900 1,320,470,800 1,078,540,200
30,752,200
17,985,500
2,259,900 Tlec.
182,900
310,268,100 Inc. 2,561,200 306,623,600 199,710,500
70,780,800
79,056,900 Dec.
78,189,400
232,200
Reserve held ........... .
25% of deposits. ........
389,325,000 Inc.
354,828,925 Inc.
2,329,000
779,475
384,813,000
330,117,700
270,491,300
269,635,050
Surplus reserve........
34,496,075 Inc.
1,549,525
54,695,300
856,250
Surplus excl. U. S. dep.
35,061,050 Inc.
1,503,800
59,191,675
8,544,300
N ote. — The Clearing House now Issues a statement weekly showing tho total
of the actual figures on Saturday morning. These figures,tWgether with tho returns
of separate banks, also the summary Issued by tho State Banking Department
showing the condition of State banks and trust companies not reporting to the
Clearing House, appear on the second page preceding.
Foreign Exchange.— The market was lower this week,
influenced by the satisfaction of the demand for remittance
incident to the half-yearly settlements abroad and also by
the outlook for liberal supplies of exchange resulting from
commodity exports and investment in American securities.
Gold shipments, $3,350,000 to Argentina.
To-day's (Friday’s) nominal rates for sterling exchange
were 4 87 for GO day and 4 8 8 Y for sight. To-day’s (Fri
day’s) actual rates for sterling exchange were 4 8645@4 8655
for long, 4 8770@4 8775 for short and 4 8790@4 8795 for
cables. Commercial on banks 4 8620 @ 4 8630 and docu
ments for payment 4 8o% @ 4 86. Cotton for payment
4 85% @ 4 85%, cotton for acceptance 4 8620@4 8630 and
grain for payment 4 85% @ 4 86.
To-day's (Friday’s) actual rates for Paris bankers’ francs
were 5 17% @ 5 16%o for long and 5 16% @ 5 15%/tfor short.
Germany bankers’ marks were 9 5 % @ 9 5 3-16 for long and
95 7-16@95%J for short. Amsterdam bankers’ guilders
were 40.36@40.38 for short.
Exchange at Paris on London, 25 fr 18c.; week’s range,
25 fr. 18c. high and 25 fr. 17 %c. low.
The week's range for exchange rates follows:
87
Charleston, selling, SI per $1,000 premium. New Orleans,
bank, 75c. per $1,000 discount; commercial, $1 per $1,000
discount. Chicago, 10c. per $1,000 discount. St. Louis,
45c. per $1,000 premium. San Francisco, 25c. per $1,000
premium.
State and Railroad Bonds.— Sales of State bonds at the
Board are limited to $2,000 Virginia Gsdef .trust receipts at 45.
The daily transactions in railway bonds have been larger
than last week, owing to unusual activity in a few issues.
Of the latter, Atchison, Interboro-Metropolitan, Southern
Pacific and Southern Railway issues have been conspicuous
for both activity and strength.
United States Bonds.— Sales of Government bonds at the
Board include $3,000 4s coup., 1925, at 120, and $2,000 2s,
reg., 1930, at 101%. The following are the daily closing
quotations; fo r y e a r ly ra n g e see third p a g e follow in g .
Interest
Periods
2s,
2s,
3s,
3s,
4s,
4s,
2s,
2s,
1930 ____
1930_____ ........ .coupon
1908-18 . . __ registered
1908-18 . . _____ coupon
1908-18. _ .small coupon
1925 ____ ----- registered
1925_____ .......... coupon
1936.Panama Canal regls
1938.Panama Canal regls
Q—Jan
Q—Jan
Q— Feb
Q— Feb
Q—Feb
Q—Feb
Q—Feb
Q—Feb
Q— Nov
J u ly
3
II
O
L
I
D
A
Y
J u ly
5
II
O
L
I
D
A
Y
J u ly
6
J u ly
J u ly
7
8
*101M 101)4
*101H * io im
*101)4 *101)4
*101)4 * i o i k
*118
*120
*100)4
*100 %
J u ly
9
*101
*101)4
*101)4
*101)4
*101
*101)4
*101)4
*101)4
*118 *118
*120
120
*100)4 *100)4
*100)4 *100)4
*118
*120
*100)4
*100)4
* This Is tho price bid at the morning board: no sale was made.
Railroad and Miscellaneous Stocks.—The transactions
in stocks have been on a somewhat larger scale than last
week, but they are still limited to little more than 450,000
shares per day. Fluctuations continue exceptionally nar
row and net changes are generally unimportant. Of a list
of 25 issues conspicuous in the week’s operations, 16 are
lower and 9 higher than at the close last week.
Stocks which will be directly benefitted by the enormous
grain crops, which now seem pretty well assured, including
St. Paul, Rock Island, Illinois Central, Great Northern and
Northern Pacific, have been relatively strong features.
Southern Pacific is about 2 points higher on increased earn
ings, which suggest the possioility of larger dividends.
On the other hand, a few issues, for no apparent reason,
have declined a point or more within the week, including
Del. & Hudson, Lrie, N. Y.Central, Reading and Union Pac.
Amalgamated Copper and United States Steel issues have
not maintained the advance noted last week. Colorado Fuel
& Iron and General Electric are also fractionally lower.
Smelting & Refining and Virginia-Carolina Chemical Co.
are the only active stocks in the industrial group which close
higher than last week.
F o r d a ily v olu m e o f b u s in ess see p a g e 95.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.
W eek ending J u l y
9.
Alice Mining........... .....
Buff Rocb & Pittsburgh
Preferred___________
Cent & So Amer Teleg..
Chicago Terminal Trans
Comstock Tunnel _........
General Chemical........ .
Preferred___________
Homcstake Mining____
Ills Cent leased line___
Kan & Mich tr rets____
Manhattan Beach_____
M St I’ & S S M subscrip
tion rets, 2d paid........ (
Leased Lino certfs___
Ontario Silver Mining__
Vulcan Dctlnnlng_____
Preferred .......... .........
Sulcs
lor
W eek .
R an ge for W eek .
R a n te sin ce J a n . 1.
--------------------------------------- ---------------------------------L ow est.
I H ighest.
L ow isi
| H igh est.
100! $2
100 97
100130
100,11356
400 2
100, 27c.
410 77
2010456
300 91
14, 9956
600 5856
200 5
July
July
July
July
July
July
July
July
July
July
July
July
6
S2July6
6
97July6
7 130 July 7 130 June 130
7 11356 July 7105
Jan;115
7
2July8,
8!
27c.July8
7
79July8
7 10456 July 7 9856 Jan 10556
6! 91 July 6
s 87 Janj 9456
8 9956 July 8 9956 Mchil0056
7 61 July 9
50 May 61
6^
5July6^
660135
600 90
100, 356
665' 18
320; 69
July 6137
July 9 9056
July S 356
July
July
July 8
July 7j
July 8
8
6
130 M ay137
90 Juiy^ 9156
356 Apri 556
1856 July6
69July8;
$2
90
June
June
2
21c.
61
June
Apr
Mch
July
256
Jan
July
June
Jan
6
45
Fed
Janj
Outside Market.— Trading in the market for outside se
curities opened somewhat more active after the holidays,
accompanied by a generally firm tone, but soon lapsed into
dulness. Prices showed a sagging tendency. Boston Con
solidated sold at 15%, against 14%, the close last Friday,
but dropped to 14%. British Columbia rose from 7% to 7 % .
Butte Coalition from 25% moved up to 25%, sank to 24%
and ends the week at 24% . Cumberland Ely advanced from
7% to 8% but reacted.and sold finally at 8. Greene Cananea weakened from 10% to 9 % . La Rose Consolidated
continued an active feature and improved from 8 3-16 to
8% , with the close to-day at the high figure. Nevada Con
solidated, after an advance from 23% to 24, fell to 23%, but
moved up again to 23%; it ends the week at 23%. United
Copper common advanced from 10% to 10%, moving down
finally to 9 % . Active trading in Giroux carried the price
from 7% to 8% , the high figure being reached to-day. Gold
------------- Long — ----------------------- Short -------------- ------ — Cables -----------field Consolidated displayed weakness, sinking from 7 % to
Sterling, A ctu a l —
High_____ 4 86(1(1
@4 8670 14 8805
©4 8810
14 88.35
©4 8840
6% , but regained part of the loss, the close to-day being
Low ____ 4 8645
@4 8655
|1 8770
@4 8775
14 8700
@4 8795
6 11-16. Nipissing moved down from 10% to 9% , then up to
P a ris Hankers' F ra n cs—
High.......... 5 HSVsd
@5 16J-S
|5 15®6a
@5 1556
I ..............................
10%, with the closing quotation to-day 10%. Interest in
L o w ........ -5 1756
@5 16J4a 15 1656
@5 1556* | ..............................
industrials was at a low ebb. American Tobacco gained 6
G erm any H ankers’ M a rk s —
High.......... 05 'A
@ 05 3-16 I 95 9-16rf @ 95 0-16 I ..............................
points to 433 and sold down to 431. Atlantic Gulf & W . I.
Low - ........ 05
@ 95 1-16 1 95 7-16 @ 9 5 )4d I ..............................
S. S. preferred was strong, easing off at first from 28% to 28,
Am sterdam Hankers' G uilders —
High.............................................. I 40 40
@ 40 42 I ..............................
then running up to 29% . The common weakened from
L o w .............................................. 1 40 37
@ 40 39 j ............ .................
11% to 11%, rose to 11% and fell back to 11%. Standard
Oil lost 2 points to 685. In bonds, Western Pacific 5s wrere
Loss: a 1-16 of 1%. < J l-3 2 o fl% . A 3 -3 2 o fl%
Plus: *1-16 of 1%. X 1-82 Of 1%. 7/3-32 of 1%.
active, advancing from 97% to 98%. Atlantic Gulf & W . I.
The following were the rates for exchange on New York S. S. 5s sold from 72% to 72% and Jones <fc Laughlin 5s
at the under-mentioned cities to-day: Savannah, buying, from 100% to 100%.
60c. per $1/100 discount; selling, 76c. per $1,000 premium.
Outside quotations will be found on page 95.
Febl
Jan
May!
Apr|
Janj
New York Stock Exchange—Stock Record, Daily, Weekly and Yearly
O C C U I^ I M i
S T O C K S — H IG H E S T A N D L O W E S T
Saturday
J u ly 3
M on d a y
J u ly 5
Tuesday
J u ly 6
W ednesday
J u ly 7
A L E P R IC E S .
Thursday
J u ly 8.
F rid a y
J u ly 9.
■latex 01
the
W eek
Shares
TW O
PA G E S
STOCKS
N EW Y O R K STOCK
E XC H AN G E
R ange sin ce J an . 1 1909.
On basts 0/ 100-share lots
Highest
Railroads
115*8 116i4 116 11712 116*8 1171 116lg 117
81,710
tch Topeka & SailtaFe 9U8 Jan 13 l l / i - J ’ly 7
104l2 105 *104i2 10 514 10434 1047g 10 453 10434 1,710 A
Do pref___________ fOOU Jan 20 10634 J ’liu2
*128 129
128U 1281- 128 1281a *127l2 130
800 Atlantic Coast Line R R . . 10712 J a i 14 135 J’no
118*8 11834 II 8 I4 H85g II 8 I4 118-g 118ig 1183g 15,500 IJaltlm orc & O hio_____ 103'2 Feb 23 120 J’nelU
*941- 95
*91
95
*94
95
*94
9434
02 Feb > 96 Apr 1
* * Do pref___________
781g 7934 7834 79l2 781g 7834 777g 78i2 liu s o Brooklyn Rapid Transit.
07 Jan 9 827g J ’nc
183 1833g 182-g I 8 3 I4 20,700 Canadian P acific______ rl65 Mch 3 185*3 J ’ne
183 184
183 184
( Canada Southern---------- 60i4 Jan 11 68 May!
*633, 671- *6334 671 *6334 6712
2S934 28934 288 288 *288 293 *288 293
220
215 Feb 23 29812 Mayl
of New Jersey—
761- 7t)3j 7634 78!g 781g 7834 771- 7812 44,100 Central
55*8 Jan 6 8 O14 May2«
& O hio_____
68l2 6934 6834 6914 1,600 Chesapeake
*671- 70
*671- 691
....
743 .| Apr '
677S Feb 24
Chicago & Alton R R -----*73
—
75
*73
75
76
*73
—
*73
75
71 Feb 24 7312 Uehi
Do pref______________
l'g
17g
1*8
1*S
1*2 2
1*2 1*4 6,656 hlcago Great W estern ..
1 1 1 -J an _
iig
J
’ly
0
5934 *58
*55
*55
60
60
*58
59i2
55U J ’n e ll
64
Mayl7
Do 4% debentures____
*24
26
25
25
*24
*24
26
26
150
23
J
’nel9
Do
5%
pref
“
A
"
_____
37
Jan
43
4
434
412
43t 434 1,950
4*a 434
4 J ’ne2s
14i,s Jan
D o 4% pref " B ” _____
1543g 155lg 1543g 1551g 1541g 1547g 153-g 15434 21,300 ’hlcago
Mllw & St Paul. 141 Feb 23 1571s J ’ne
16934 16934 I 6 9 I4 169?g 16914 I 69 I4 1691- 16912 1,725
D o pref______________ 1581- Mch 15 170*4 J ’no 4
183 I 84 I4 184 1841, 2.100 Chicago
183 183
183 183
& North Western 173*8 Feb 24 1.s6>2 J’ne 3
*221 225 *220 225 *220 225 *221 225
Do pref______________ x2U8 Mch lo § .25 Jan 5
*158 165 *158 165 *158 165 *158 165
Chic St P Minn & Omaha 148 Apr 22 10U2 J ’ne S
*170 175 *168 175 *170 175 *170 175
Do pref---------------------- 1661-Jnn 30 174 J ’n e l
*4
5
*4
4
4
*4
6
5
100 Chic Un Trac ctfs stmpd
4 J ’ly
7 Jan
13
13
1434 *13
14
*13
*12
1434
300
Do
pref ctfs stm pd___
I 8 I4 Jan 27
13 J ’ly
*73
74
741 75
74
74
74
74
400 Cleve CIn Chic & St L ___
?9i2 Feb lb
t8 Jan 29
*102
*102
*102
*102
D o pref---------------------- 100 Jan . 105 Mch 22
573g 5034 57
5634 5034 1,242 Colorado & Southern____
57U 571 57
6 8 I4 Jan
>6 J ’nel4
*82
83
821- 821- {82
82
8212 8212
330
Do 1st preferred
76*2 Jan 2
86 May 1
*801, 8034 *8 0 14 8034 *8014 81
8 OI4 8 OI4
100
Do
2d
preferred
73*4
Jan
2
841- Jan 7
I 9534 1957g 19434 19434 19314 19314 192*4 193
1,000
elaware & rfudson__ 167*4 Feb 24 200 May 14
O elaware
*605 680 *605 680 *605 680
*------680
Lack & W est. 536 Feb
680 Apr 22
48
481 471g 4712 47
48
4 8 I4
3,805 Denver & Rio Grande__
37*s Jan 6 54 Apr 10
86
8534 853i 8534 857g *85
*84
411
Do pref______________
701- Jan 0
00 Feb 10
*60
62
*60
63
*60
62
*60
Detroit United--------------56 Jan 30
621- Feb 20
17
173g 161*167g 18
17
"**600 Duluth So Shore & Atlan
15
14
Jan
21
Jan 15
3212 {3234 3234 3214 3214 323g 3238 1,050
Do pref
28 Feb 23 36*2 Jail 15
36
3634 3534 36*8 24,800
3734 36U 37
39 J ’ne 7
L J rle_______
22*8
M
chll
53-g
5334
5414 5312 6312
521- 5 3 1 g
Hi D o 1st pref_________
361- M ch l.
55ig J’no 6
*4234 4384 *4212 431- 3,200
44
431t 44
1,400
Do 2d pref___
453., J ’nc 6
2 8 t2 M chll
15012 15114 15034 15U- 15H4 152's a:14812 1497s 25,500 Great Northern pref
15218
J ’ly 8
136*8
Feb
24
7617
7
I
4
76lg 7634 76
7712
7534 7614 15,836
Iron Ore p ro p e rtie s...
65 isMchl2
773, j ’ne 15
1534 *14
*14
16
*14
1534 *14
153,
Green Bay & W . deb ctf B 14 Feb 26 17 Jan 4
63
63
62
621, *62*4----64
64
800 J.J avana E lectric.
39 Feb
64 J ’ly 9
*85
90
881- 881- *85
90
*85
90
130
Do pref
89 J ’ne 12
83>s Feb
*100 115 *100 115 *103 105 *105 116
Hock Val J I’ & M Co rets 97 May 3 118 J ’n c 10
*93
94
*90
94
93
93
*93
94
100 Hocking V alley pref
88
Apr
2/
94i2 J ’n e ll
14912 14934 149*g 149-8 149U 1507g 150-s 15214 9,150 lllnols Central-----1612 157g 10l8 10,066 nterboro-M etropolltan. 137 Feb 22 15214 J ’ly 9
16
163g 16
1634 16
11*8 Mch 23 19 Jan 6
50
51
49
493| 481- 51
49*8 50*8 24.199
Do p ref.
363, Mch 23 623s J ’n e28
297g 297g 2934 297g, 2934 2934 2934 297g 1,345 Iowa Central
27
Feb 2 1
36 Apr 15
*55l2 5612 5578 56
557g 56
55U 56
800
Do pref
541- Jan 4 62 Apr 15
*77
79
*77
79
*76
79
*77
79
C
Ft
S
&
M
tr
cfs,
pref
7434 Feb 2
79i2 May 13
461- 4634 46
4614 4634 461g 461- 45
4.550 K ansas City S ou th ern ..
37 Feb 23 48*8 Mayl4
a:713g 7134 7U2 71*4 7H 7U- *71
7134 1,000
Do pref
677g Feb 21 747g vicn30
*25
27
*25
271
*25
26
26
27
100 J ake Erie & W estern ..
28 J ’ne 8
19i2 Feb 25
63
6134 6134 *58
*58
63
58
58
250
D o pref------------------48 . an 23 047g J ’ne 14
*68
71
*681- 71
681- 681 69
69
400
Island--------------------7Ug May24
59 Jan 4
14014 14H4 140 1403g 3.900 Long
14034 1407g 14012 141
Louisville & N a sh v ille ... 1121 Jan 29 1451- J ’ne 8
*143 147
145 145 *143 146 *143 147
100
anhattan E le v a te d ... 142 Mch 25 1531-Jan 4
*18*8 20
22
20
20
{18
18
*18
117
etropolltan S tr e e t___
18 J ’ly 2 42 Jan 6
66
5534 5534
*55
57
56
5614 {56
436 Minneapolis & St L o u is ..
52 Mch 6 65 Jan 8
87
87
*84
89
*84
88
*84
88
120
Do pref______________
81 Mch 10 90 Jan 8
1431- 1441g 143*4 14334 5.900 Minn
141 142>4 143 144
St
P
&
S
S
M
arie..
l32l2
Jan 2 1491- Jan S
15234 15234 153 153 *152 154
152 152
300
Do pref........... ..
147 Apr 1 3 159 Jan 7
417g 4214 41*4 421g 417g 423g 4012 4134 9,500 Mo Kansas & Texas
3512 Feb 23 447,3 Jan 22
*7334 737g *73*4 74
7334 7334 *7334 74
100
Do pref-------------71 Feb 23 7514 Jan 21
7312 7312 7334 72i4 73
73
7312 73
3,950 Missouri Pacific
66 Feb 24 7714 J ’ne 4
*130 138 *130 138 *130 138 *130 138
ash Chatt & St LoulsT 122l2 Jan 5 138 J’ne s
6312 5312 53l2 637g 5412 55
6378 54*8 3.200
at
Rys
of
Mex
1st
pref
4412 Apr 5 55 J ’ly 8
253g 247g 253g 19,400
251g 255g 25lg 2512 25
Do 2d pref------------------23 J ’ne2i
26*8 Alay22
132 132*8 1317g 1321o 13112 1 3 F 12,700 N Y Central & H udson. 1201- Feb 24 135
132*g 133
J ’ne 4
*55
56
*55
57
*55
57
55
55
100 N Y Chic & St Louis____
481Mch
15
69 J ’no 7
*100 110 *100 110 *100 110 *100 110
Do 1st pref-------- -------- 100 Feb 20 100 Feb 20
*80
85
84
84
*80
85
*80
85
100
D o 2 d prer....................
76i4 Apr 8
87 Feb 4
17034 171
17Hg 171 lg *17034 172
170 170-8
811 N Y N H & H artford____ 157ig Feb 24 1743.| J ’ne 14
525g 627g 521- 5212 517g 52
5212 53
2,150 N Y Ontario & W estern.
655s J ’nc 12
4214 Feb 24
8912 897g 90
CO *8912 90
8912 8934 1,100 Norfolk & W estern_____
SlL Jan 6 94>8 Apr 22
*88
90
*87
90
*85
00
*88
90
Do adjustment pref__
S5 ig Mch 26 88 Jan 20
152*8 15334 Zl517g 15234 1613g 15212 15014 1615g 31,589 Northern Pacific------------- 133*4
Feb 24 1543., j ’n e ll
*9734 102
*971- 99
*9712 99
97
9714
200 P a cific Coast Co..............
76 Mch 3 993j Apr 1
*100
105
♦100 105 *100 105
*100 105
L
Do 1st p r e f ..______ 100 Mch 30 IOOI4 J ’ne23
*96 100
*96 100
*96 100
*96 100
D o 2d p r e f . . . .........
88 Mch27 100 Mch 31
1367g 13714 136*8 137*8 13634 137
1367g 137*4 20,220 Pennsylvania ___________ I26ig Feb 33 139*8 May 4
0214 9214 *921- 9 3
♦92
03
{93
93
139 Plttsb Cln Chic & St L . .
94 Feb 4
801- Jan 5
*110 120 *110 120 *110 120 *110 120
Do pref______________ 104 Feb 10 1 1 0 Mch 25
157*2 1583g 156»g 157*s 155*8 1567g 154*8 15638 169,800
15934 May20
eading............................
118
Feb
23
*9212 93
9312 93
*9212 93l2 *93
93
140 R
1st pref____________
93 Jan 5
89 Mch22
*100 103 *100 103
*98 102
*98 102
2d pref......... ............
90 Feb 1 1043.1 Mayl3
327g 33lg 33
331- 343g 33
3414
337g 86,600 Rock Island Com pany___
34i2 J ’ne 8
207s
Feb
24
7034 71
7134 72lg 707g 717g 9,850
7034 72
Do pref______________
57*8 Feb 24 727g Mayl3
6812 693g 69
m
*66
70l2 * 6 6
70l2 1,600
71 Apr 20
t L * San Fr, 1st pref.
0514
Mch29
S
46*4 48
451- 4612 46
47
48
10,520
Do 2d pref__________
36 Feb 23 48 J ’ly 7
*27lg 2712 *271g 27i2 *27
2714 27
27is
300 St Louis Southw estern..
28i2 J ’ne 2
2 0 1 - Feb 25
*668g 67ig 661- 6612 6634 6634 6612 661
900
Do pref..........................
471- Jaa b 7H2 J ’ne 2
132*2 1333g 133 1353g 13334 1353g 13314 13414 259,820 Southern Pacific C o......... U43s Feb 24 135*8 J ’^ 7
132l2 133ig 133U 135
134 1351g 133*8 134
7,152
Do pref______________ 11834 Feb 24 137 J ’ne 8
30?g 3 H4 3 0 -3 31
301- 31*8 3012 3 H4 11.900 Southern v tr cfs stm pd.
22 Feb 24 32*8 J ’ne 6
691, 697g 69
69
69
6914 6812 0914 1.150
Do pref
do
7 D - J ’ne 7
6 0 Jail 5
3334 3414 3234 3312 2,410 'P e x a s & Pacific_______
3412 3412 3411 3414
30 Feb 24 3734 Feb 6
1634
16
1734
18
16'g 18
16*4 1712 16,800 1 hlrd Avenue (N Y ) . ._
16 J ’ly 2 42i2 Jan 18
*83g 9
*87g 9
*81- 9
*81- 9
100 Toledo Railways & Light
153g Jan 2
7 Mayl2
4934 49*4 51*8 6,700 Toledo St L & W estern ..
48
4814 481j 4834 49
43 Feb 26 64*4 Apr 19
693g 69*g 7014 4,900
68.
6884
69
68
69.
Do pref........... ..............
64*4 Feb 24 7414 Jan 4
*10312 10412 104 104
104U IOH4 10312 103*8
550 Twin City Rapid Transit
97 Jan 2 107 Feb 15
19434 19512 1937g 1947g 193*8 195
193 1941g 196.500
nion Pacific--------------- 172i2 Feb 24 195!2 J ’ly 6
10434 10434 104I2 105l2 104U IO4 I4 5,380 U Do pref.................... 194
10412 105
Mch 1 110 J ’ne24
*36
39
♦36
39
Unit Rys In v’t of San Fr 30 Feb 25 39l2 J ’nc2l
651* 66l2 *55
67
56
66
200
Do pref---------------------- 5014 Feb 25 69 Apr 29
217g 217g 21U 2U2 21
2U- 203g 2034 2,900
a b a s h ..........................
16 Feb 23 2438 J ’ne 15
6512 667g 54
6534 64
5514
63i2 64i2 18,300 W
Do pref..................
41 Feb 23 6134 J ’ne 15
9l4 11
9 1034
7U 8l2 20,200 Western Maryland______
03, 10ig
7*4 J ’ly 9 283g May 7
9
9
*912 11
*9
10i2
9
1,200 Wheeling & Lake E r i e ...
8i2 Feb 6
127s J a '1 4
*21
2234 2 U4 2 1 l2 21
*22
23
500
Do 1st pref....................
20 Feb 21
26?8 Jan 8
*10
12
"
* 1012 1212
*9l2
1H2
m g mg
100
Do 2d pref....................
1 6 'sJan 8
loig Feb 26
5634 57
6712 *55
68
*56l2 58*4 *56
300 Wisconsin Central______
357g Jan 6 037g Apr 20
897g *89
897g 897g 897g 89?g ♦89
8934
200
Do pref Trust Co ctfs
Milt ' 1<■•1-31
91 MaylO
M
BANKS
Banks
Rid
AS/C
AND
TRUST
Lowest
Highest
66 Feb
833g Feb
69i2 Mel
76l2 Feb
HO Jan
3714 Feb
140 Feb
54 AIci
160 Feb
2512 Feb
10 Feb
47 Mch
3ig Feb
331? Me 1
15l2 Feb
6 Feb
103i2 Jan
138 Jan
135i2 Jan
4185 Jan
114 Feb
140*2 Jan
*8 Apr
4 Apr
471- J ’nc
85>g Feb
21
Feb
6038 Jan
3934 Feb
14U2 Feb
420 Jan
14*4 Feb
89*4 Mcli
3 2 i2 Apr
6 Feb
11*4 Feb
12 Met
2438 Me) 1
16 Mcli
113-34 Feb
481-Jan
Jan
20 Mch
170 Jan
62 Feb
69 Mch
1221- Feb
634 Jan
17ig Feb
10 Feb
2712 Feb
57 Aug
Feb
Feb
Jan
May
Feb
87*4 Feb
120 Jan
15 Feb
20 Mch
61 Feb
79i,| Jan
1231- Feb
17i2 Mch
46 Feb
28l2 Feb
97*4 Jan
101‘4 Dec
104 Deo
11U-Dee
1173 Dec
v: Dee
0934 Dec
180ia .\ov
68 .Nov
129 Dec
593, Dee
US7g Dee
til Dee
145s .Nov
68I.J Aug
/ 3 Dec
171,8 N ov
1521- Dec
1643.1 Dec
186*2 Dec
224 Deo
160 Dec
174 Dec
7ig Dec18 Dec
70i- Dec
i.O'g Dec
69 Dec
79 Dec
76 Deo
i 8 13 s: Dec
f75 Nov
40i2 Deo
83U Dec
66 Nov
: 8 "| Nov
3334 Nov
36 Nov
51 *s Dec
41 Dec
148*4 Dec
76ig Nov
1 7 1 - Dec
40 " Dec
84 Dec
104l2 Dec
93 Deo
14934 AOV
20 Dec
49l2 Dec
32i2 Dec
57 Dec
75i2 Deo
42*8 Dec
72ig Dec
26 Deo
58 Dec
8638 Dec
1253) Dec
1 5 U4 Dec
441 - Dec
60*2 Dec
90 Dec
136 Nov
)61t2 Dec
4 3 1 - Deo
75*2 Deo
67*2 Dec
12 2
N ov
90ig Jan
24l2 Jan
90 Jan
60 Feb
1283S Jan
29ig Feb
68 Feb
74 Mch
ll67g Jan
66 Sep
90 May
79 Mch
108*4 Jan
59 Jan
81U Mch
92*8 Feb
78 Jan
7b Jan
10i2 Feb
20*4 Feb
42 J ’ne
19i4 Feb
10 Mch
2412 Feb
6G*4 Feb
10638 Jan
9*8 Jan
25l2 Mch
1234 Feb
15>2 Meh
01- Oct
12 Feb
83 Feb
78*4 Feb
1101- Mch
79M Apr
15 Jan
271-Jan
6*4 Mch
13 Mch
6 Mch
4l2 Mch
12ig Apr
0 Feb
1312 Feb
126 Dec
67*2 Dec
105 Nov
85 Deo
161 Nov
477s Dec
8 OI4 Nov
88 Dec
16734 Nov
931-Jan
90 May
97 Jan
13 2 14 Deo
88l2 Deo
108*4 Nov
143*4 Dec
92 Deo
99 Dec
25U Deo
62*a Deo
09 Dec
42i4 Deo
24 Dec
657g Dec
122l2 Dec
126i2 May27*4 Dec
0312 Dec
3714 Dec
47 Aug
16l2 Dec
60 Dec
73l2 Dec
9b3g Deo
1847g Nov
98 Nov
40 Deo
69l2 Dec
20*8 Deo
5234 Deo
24 Deo
13 Deo
26*4 Dec
15*4 Nov
38i4 Dec
CO.vIPANIKS— BROKERS’ QUOTATIONS
A sk
b id
b id
BankAsk
bUt
Banks
Banks
Ch.lseaEx 1i 2 0 0
. . . . F i f t h ......... 300 350 Jefferson H - 180
N ew Y o r k
First ______ 800
Chemical . . 425
825
530
Liberty-----Aetna . . . . . 175
159
14th St 11 . . 165
Citizens’ Ctl 165
180 L in c o ln ___ 420
A m e rica n .. 676
F o u rth ____ 2 2 0
585 ‘ C ity.............. t352 t358
Manhattan!! 335
Amer E xch . T252
. . . . Gallatin . . . 34J 3*5*o‘ * Mark’ t&Ful 25712
Coal & Iron 200
B atteiy Pk
130
-H I Colonial i . . 300
. . . . Garfield . . . 270 285 Mechanics’ . 255
Bowery D . . 376
425 Germ Am 11 140
- - I I Columbia fl. 375
Mercantile - 180
BronxBoroli 300
Commerce . f 185 tl8J3g Germ’n Exll 450
Merch Exch 100
16(T C op p er____ 245
Bryant Pk 11 166
Germania 11 650
Merchants’ . 100
140
160
Butch it Dr
Corn Ex 11.. td30 t3*33*i4 Greenwich 11 205
28*0” Metropolis 11 375
175
Century U-- 170
East R iver. .125
135
Hanover . . 545
Metropol’ nli 187*2
D h ase......... 300
Fidelity D_. 105
175
Imp & Trad T561
Mt Morrlsll- 260
805
Chatham . . 295
Fifth A veil. 4UUO
. . . . Irving N Ex 18712 1*921; lutunl H-. 29J
- “ -A, { Loss than 100 shares.
Sale at Stock Exchange or at auction this week. 7: First installment paid, n Sold at private
R ange 1or Previous
Y ear (1908).
A sk
Banks
Nassau H ...
New Neth’d
New YorkCo
New York .
N’ lu &Dayli
19th W ard .
Northern . .
Pacific I I ...
P a rk ............
People’s 11-.
1*9*5* P h e n lx ____
. . . . Plaza 11____
31 1
11 State banks, a
sale at this p rice ..
660 '
435
345
20212
200
195
170
101
tita
Eld
A sk
205
105
142
350
376
135
290
170
162
375
Banks
Prod Exch H
Reserve.. . .
Seaboard . .
750
S e co n d ____
335
825
Sherman _ . i
260
220
450
State H-----12 th W ard.
lib "
2*4*0‘ ' 23d Ward
230
407*2 17212 Union Exc .
.Vash H’ ta f
280
295
West Sldo 11
185
175
025
Yorkvllle U
010
200
fob*'
180
1871* 1*96*'
270
600
425
Ex-dlvldond and rights, b New stock
J uly 10 1000
iNeW York StOCK UeCOM— Concluded- Page- %
S T O C K S — H IG H E S T A N D L O W E S T S A L E P R IC E S
JSaturday
Tuesday
J u ly 0
M onday
J u ly 6
W ednesday
J u ly 7
Thursday
J u ly 8 .
F rid a y
J u ly 0 .
Sales 01
the
W ek
Shares.
STOCKS
N EW YOHK STOCK
EXCH AN G E
89
R ange stride J a n . 4 1000
Or. basis of lOo-share lots
Range lor 1’rcvious
y e a r (190'>
Highest
Highest
Indnslrtalft Miscellaneous
A dams E x p r e s s ...____ 190 .Tan 20 510034 May 6 164 Jan 5200 Aug
620 ^MUs-Clialmers . . . . . ___
1234 Feb 24
lbi 2 M ayl/
16*s Dec
6 Meh
50
38 Feb 24
Do pret___. . . . ___
4.4*4 J ’ne 14
14 Meh
52*4 Dec
43,885 Amalgamated Copper___
65 Feb 26
8 8 ig J’ne 6
88*g .Nov
45ig Feb
3,000 Amcr Agricultural Chem.
403g J ’ly e
331" Jan 5
13 Jan
85 Nov
Do pret______________
05i2 Jan is 101 .) nel..
90 Nov
78i2 Jan
5.800 American Beet Sugar____
2014 Jan 13
4412 J ’ne2.
yi2 Feb
24?* Apr
100
Do p rcf______________
S2 Jan
07is
J
’ne
11
81*i Dee
65 Jan
3,000 American Can___________
7i-> Feb 23
14is May '
4 Feb
10U Nov
3,300
Do prer______________
71i2 Feb 23
86 J ’ne
7*>7r Nov
44 Jan
3.800 American Car & Foundry
4414 Feb 24
6 8 i2 J ’ne 4
60*4 Deo
V512 Feb
643
Do p rcf____________
107>2 Feb 23 118 J ’ly 0
84l4 Meh lOy Dec
4,100 American Cotton O il..
42igJan 5 7034 o ue 12
44*4 Nov
2434 Feb
Do pref____________
98 Jan 7 1 OUI4 May 11 ♦80 Jan
97 Nov
110 American F.xpress______ } 205 Feb 5 §230 M ayls
5224
May
170
Feb
200 American Hide & Leather
6>4 Feb 25
91g J ’ne25
Si2 Dec
234 Feb
1,020
Do pref______________
34 Feb 2)
43l2 J ’ne 1
37*4 Dec
12l2 Meh
4.100 American Ice Securities..
42b Apr 13
1878 Jan 8
s i's Aug
12i2 Feb
025 American L in se e d _____
12 Feb 25 20 J ’ne 14
17i2 Dec
0 Meh
1,225
47*4 J 'ne 14
Do pref______________
20 Jan 12
3G’.4 Dec
17 Met
3.100 American L ocom otive___
82i2 J ’ae l
40
Feb
23
50*8
Aug
31*8
Feb
300
Do p rcf______________
IOOI4 Feb 24 11S14 J ’ly
113 Dee
86l2 Jan
000
1 1 * 2 J ’ne
American Malt Corp____
7 Jan 7
8.',: Sep
: Melt
700
58l-> J He 3
Do pref______________
•:2 Jan 7
21 Jan
6 ig Sep
600 Amer Smelters Sec pref B so
8078 May20
Jan 4
84'g Aug
70 Jan
71,475 Amer Sme!tlng& Refining 7734
Feb 24 U/l2 J ’ne 1
6S12 Feb 107 Aug
1,850
Do prcf__________
101 Jan 2 114i2 J ’ne 3
87*4 Feb 110*8 Aug
American Snulf.................. 225 Meh 9 j255 Apr I
ISO Aug 200 Apr
Do p rcf______________
05 f.lch 1 105 May<t2
9712 Sep
80 Me 11
4,517 Amer Steel Found (new)
51 J ’no '
3478 Feb 2 !
41 N ov
28 Sep
3.400 American Sugar Refining 1 2 1 J ’ne 17 136 Apr
137*4 Aug
98*4 J an
100
Do pref____________
131 Apr
6,300 American Tclcph & Teleg 1 2 0 J ’ne 16 1427g J’ne 11 105 Feb 131 Nov
Feb 1
101 Jan
132*8 Nov
2,450 American T obac (new) ,pf 125
0012 Feb 6 104 May 1.6
0712 J ’ly
72i» Jan
400 American W o o le n .............
37i-> J ’ne 7
20
Feb
4
32*s Deo
!5i2
Feb
430
Do prcf___________I "
03*4 Jan <1 10/34 J ’nel4
07 Nov
7bi4 Feb
0,845 dAnacondaCopper P a r l i h 837*4
Feb 20 $52 May 8 $2712 Feb
C3.A Nov
Assoc Merch 1st pref____ 105 Apr 2 114 J ’ne 25
Do 2d pref___________ I
2 Feb 17 104i2 Feb n
1,300 r/Batopllas Mining P a r t 20 101i
$5i2 J ’ne30
$27g Jail 20
S2i2 Jan
to Meh
1,500 lleth leh em Steel_______
333g J'ue o
18*4 Meh 0
12 Jan
2 7i4 N o v
100 • '
Do pret___________
47 Feb 24 64i2 J ’ne 6
35 Apr
67 Nov
Brooklyn Union Gas____ 118 ,Jau 28 141 " J ’n c ll
785 Feb 15214 Nov
350 Brunswick Dock & C Imp
2034 J ’ue 12
13 Jan 14
6 Jan
1/ Nov
Butterlck C o____________
237s Jan 4
347g Mayl7
525 Jan
510 Feb
1,200 ( lentral Leather___
25t2 Meh 2
33 Jan 4
Dec
151; Feb
800 V ’ Do pref_______
9034 Apr 5 10 6 i2 J ’ne 8
102 Dec
76*4 Jan
0,800 Colorado Fuel & Iron____
20 Feb 23
45i2 Jan 7
__ Dec
I5*s Feb
2,000 Col & Hock Coal & Iron.
21*8 Feb 23 67>4 J ’n c le
27i2 Dec
14*4 Meh
600 Consolidated Gas (N Y ) . 114i2 Feb 4 lOSfj Jan 4
167 Dec
06 Jan
2,900 Corn Products R efining..
1612 Feb 2 1
26U J ’ne 2
20i2 Aug
10*4 Feb
950
Do prcf.
7314 Feb 24
93i2 j ’ne 1
80 Aug
66 Jan
200 Crcx Carpet
45 Jan
6l May 25
4 M4 Oct
47i
2 Oct
400 Distillers’ Securities Corp
32i2 Feb 23
4ii2 .Jan 26
2834 Deo
2714 Feb
Federal Mining <56 Smelt’g 55 Melt 2 96i2 M ayll
04 Aug
72i2 N ov
Do pref______________
03 Maylu
60 Feb 24
80 N ov
69 Feb
Federal Sugar Ref of N Y (45 Meh20 54.) Mch2o
6812 J ’ne
66
J ’ly
*01 100
*01
*01
10 0
*91 10 0
Do p rcf_____
0U2 Mnvl 1
(00 Jan
10
0 “ J ’ly
73i
2
Feb
104 164
4,400 General Electric
164
10312 164
10412 160
1501a Feb 23 166 J ’ly 0
10234 Deo
i l l Jan
*09 1 0 1 1
*00 102
*99
*99 102
Granby Cons M S & P __
01 Meh 12 .10 Jun 4
10012 J ’ly
78*4
Jan
85
85
*8412
85
85
800
*841, 8512
86i2 J 'ne 14
' nt Harvester stk tr ctfs
02 Jan 30
'
J'ne
07*s Nov
*121 122 * 1 2 Ui 12 1* 4 1211 , 1211 , *121 122
100
Do pret stk tr ctfs__ IO9 I4 Jan 10 123 J'ne 3
J ’ne IIOI4 N ov
7
7
53g 67g 2,400 Int Mer Marine stk tr ctfs
7
7
*7
73«
0 Jan 2
5*3 J'ly
9 May
Oct
1834 221g
5,810
23
23>4 23
23U 225g 23
Do pref_________
1834 J’ly
27=8 Jar.
2678 Deo
Feb
♦1512 161'
I 6 I4 IOI4
550 International Paper
1 0 1 8 I 6 I4
1512 1512
1684 J ’ne 8
0i2 Meh 13
Apr
I31.1 N ov
G412 643.t 05
04
*04 ' 05
0312 0312 1,500
Do prof______________
47*4 Meh IS 65 J ’ly 7
66 J an
Oct
39l2 40
40
3012 40
40U 39*4 401, 3,720 Internat Steam P um p___
3312 Feb 26 42*4 Mayl2
Jan
39*8 Deo
8884 89J4
89
88*4 80*8
8958 8884 803g 2,872
Do pref_________
82i2 Jan 30 80*8 J’ly 8
S4 i4 Deo
Jan
7912 79i2 70*4 70*4 7034 7934
600 Mackay Companies
7012 7012
82?g J ’ne 6
70 Jan 21
78 N ov
Feb
*7312 7 H4 * 7312 7414 +731, 7414 *7312 7414
Do pref................
7518 J'ne 10
00i2 Jan 0
7134 N ov
6 0 Feb
2
*10512 106 *106 100 +105 106 +105 106
108*8 J..n 16
ational Biscuit______
07 Deo
96>2 Jan
68 Jan
125lg 125U *124 12518 *124 125l8 1247g 1247g 1,250 N
Do pref___________ 118i2 Jan 1 1 126 May 7 102 Jan
1201*
Deo
*15l2 17
16
300 Nat Enamel’g & Stam p’g
1 0 1 2 1612
16
*15
I 6 I4
18*4 J ne 8
125g Feb 24
15 14 Deo
7i2 Feb
*87
91
*85
90
90
*85
*80
91
Do prcf___
92 J ’ne 12 .70 Feb r82i4 Deo
82 Jan
8 6 I4 867g *8 6
8034 80
8 G12
2,300
8512 80
National Lead
OOI4 Apr 10
0 2 Aug
7 U4 Feb 25
36 Feb
$109 109
400
10812 10812 10838 108*8 108 1081S
Do pref_______ _______ 10234 Apr 21 111'2 Maj’27
IO6 I4 N ov
S7i2 Jan
*11,
2
2
*134 ___
100 Newhouse M & S . P a r 510
1*4 1*4 * 1*4
$U2 J ’ne2i
$0 Jan 2
$97g Jan
$43g
Oct
8714 87l4 ♦SO
88
*80
88
150 New York Air Brake____
*80
88
8 ) Feb 23 U2 Jan 8
98 N ov
60 Jan
+132 135
*128 134 *128 133
N Y & N .1 Telephone__ 5113 Jan 1 137 J ’ne 25
00 Feb 122 N ov
827g 83*8 *8234
82I4 8214 82
950 North American Co, new
821g
72 Jan 13 87i2 J ’ne 14
78 N ov
42ig Meh
*30l2 3112 31
*301, 31
600
30
30*8
acific Mall____________
20i8 Feb 24 80*4 .’ an 14
40i4 Deo
24 Apr
11412 11415 11412 11412 11412 11434 11412 115
2,000 P eoplc's G L & C (Chic) 1 0 1 i2 Jan 1 3 ’ l8i2 Apr 12
10612 Dec
80 Jan
*11 12 " *1112 12
♦1 1 1 , 1 2
*1 1 1 2 12
Pittsburgh Coal C o_____
10 Apr 21
l j i 2 May24
Si2
Meh
14*8 Deo
*46
50
*45
50
*45
50
*45
60
Do pret______________
40 Feb 25 50 J'ne 8
50 Deo
30l2 Feb
44
44
4378 4414 441.1 443g 43*4 4334 2,850 Pressed Steel Car_______
3012 Feb 23 45*8 J ’ ne 2
45 Deo
37i4 Feb
10412 105
105 1051, 105*8 1053.J *10512 106
1,511
Do pref______________
96 Feb 26 10734 J 'ly 3
10 214 Deo
60 Jan
♦187 100 *187 190 *187 190
100 Pullman Company______ 169 Jan 30 )0U2 May21
188 188
174 N ov
147 Jan
834
838 018
9
734
8
5,395 Quicksilver Mining______
8*8
9*8
1*8 Jan 4
134 Deo
o*s J ’ly 0
12 Apr
*8
812 9
*8
0
9
400
* 7 14
834
Do pret______________
10 Mayl3
3 Meh 20
3i2 Deo
li2
Jan
*43
44l2 43iS 433.t *43
44
400 I Jail way Steel Spring___
43
43
32U Meh 8 43*4 Jan 2
4 9 i4 Deo
23*4 Feb
105 1051s +103 10518 1047g 10518 1047s 1047g
300 * t
Do pref___________
977g Feb 24 108 J ’ne 4
103 Deo
76 Jan
31
3134 31l4 311_ 3 H4 311, 31
3H2 2,883 Republic Iron & Steel__
16*8 Fel) 23 34U J ’ne 7
29 N ov
14*4 Feb
101*4 104*4 10412 1041, S104U 10434 1041, 1041,
075
Do p rcf______________
6718 Feb 24 1U8U J ’ne 7
63 J ’ne
89i2 N ov
*83
84
*83
84
831, 837g 8234 83
500 C loss-Sheffleld Steel & Ir
68 Feb 23 87i2 J ’n elo
36 Jan
81*4 Nov
*113 11534 *114 1101, *115 11612 *115 1161,
100 C* Do pref____________ 1073s Feb 20 117 J ’ne 5
ll()i
4 Deo
871
2
Jan
+37l2 40
S73S 3715 371, 371, *373g 39*4
400 (/TennesseeCopper P a r t Z b 534*4 Feb 26 §49 Jan 4 S25i2 Feb $52i4 N ov
02
03
*0214 03
*0 214 93
1.400 Texas Pacific Land Trust
+0214 03
80i 2 Feb 2 3
93 J’ly 6
84i2 Deo
45
Feb
l l l 2 141
1412 1412
14
141
2,700 I 1nlon Bag & Paper____
14
14
914 Feb 24
153s J ’ne 18
9*6 N ov
4 Feb
80
80
*70
81
*77
81
150 '
580
80
Do nrof
pref
66 ,lan 8 8 U4 J ’nc29
6634 N ov
4478 Jan
110*8 1103.| 1 1 0 1 , HOI
1 1 0 1 , 1 1 0 1 , 511034 11034
405 United Dry Goods pf ctfs 110U J ’ne21 1115g J’ne 12
3018 30*4 30
3 OI4 *20
30
1,060 U S Cast I Pipe & Foundr
*29
30
24*8 Feb 21 35i2 J ’ne 5
30?8 Deo
1712 Feb
8214 S2 I4 80l2 801,
....
80
801 *79
1,435
80
Do prcf______________
70 Meh 2 87i4 J ’ne 15
78?s Aug
66**8 Jan
80
86
♦80
00 *8 6 00 * 86*8 00
100 United States E xp ress..
82
Feb
lo
509
Apr
30
90 Jan
70
Feb
8
II
4
8 U4 *81
S112 8 U2
8 H2 +81
200 U S Realty & Im provem ’t
8112
64 Feb 23 8512 Mavl7
64 N ov
8bi4 Feb
* 1 412 1612 *1358 151 *13*3 1512 *14
1 512
U S Reduction & Refln’g
10
Meh
12
17i2 J ’nel7
1514 Aug
4 Feb
*35
383g *35
383g *3412 38>4
38*s *35
Do prcf______________
24 Feb 24 38<g J'ne 17
30 Aug
16 Feb
38
*38
38
30
38
38
000 United States Rubber___
39
*38
27 Feb 24
42i2 J ’ne 4
37l2 Aug
17*4 Feb
11714 11714 1171, 1171, 1171, 117*8 117*2 117*4
000
Do 1st pref___________
98
Jar.
20 118 J ’ne 7
76 Feb 10 8 Deo
*82
84
*82
85
*84 8512 * 8 :
84
Do 2d prcf___________
07l2 Feb 25 85 J ’ne 4
7612 N ov
42 Feb
09
6812 09l2 68
0818 69i8 073.t 68*4 242,515 United States Steel_____
4' i4 Feb 23
697s J'ne 14
6834 N ov
2534 Jan
125U 125*8 1251.s 125*8 125 125*8 125 1251g 10,854
Do pret______________ 107 Feb 23 12838 J 'lie 3
87i2 Jan
114*8
N ov
40
49*8 406i 4978 48
49
2,100 dUtah Copper___P a r 510 S39i8 Feb 2
48
48
$5234
N ov
$53
May
7
.20
Jan
541, 55
6 U4 5478
647g 5658 55
557g 19,500 Vlrglnla-Carollna C h em ..
4078 Feb 24 66i4 J’nt'14
45*4 Deo
16 Feb
I 2 OI4 120U *120 121 *120 121 *120 121
100
Do pref_____________ _ 114 Jan ly 123 J ’ne28 187 Jan 115 N ov
64
641, 6412 6412 *6412 05
+02
05
400 Virginia
Virgil . Iron Coal & Coke
57 Feb 23 66 J ’ne 3
68 Nov
43 Jan
*310
*310 ___ ♦310
*310
\ \ 1 ells Fargo tc C o.
300 Jan 5 330 May28 5260 Feb 325 Nov
72”
*7 XI4 721* 71l2 7134
7218 721g 72
800
estern Union T e le g ..
64 Feb 24 7812 May 7
41
Feb
71*4 Nov
85
8514 8534 *84
*84
86
♦84
200 Westlngh'seEl&Mfg assen
8514
74 Feb 24
87i2 J'ne 14
94 N ov
38 Meh
+121 1241* *121 12412 *121 1241, *121 12412 ..........
Do 1st pref___________ 110 Meh 3 123 J’ne 7
58 Meh 125 Nov
*215
*215
. . . *215
15lg 151g
15U 15 14 *15l8 16
1G
*5112 53
*5158 5 158
*5112 53
53
817g 80 lg 813s
83
81*8 825S 81
453
4
4534 43
45
4G% 457g 46
*100
+ 10112 1021 ,
♦ 10 0
IOH4 *100
4312 ~43?8 43lg 4334
4334 443g 4312 "4Y 14
07
9512 951,
-
06'2 *00
♦04
061 *04
1134 1218 11*4 117S 1178 1178 1 1 1 2 1 1 1 2
8034 813g
81*4 82l4 81*4 823S 8 H, 82
5714 5712 5714 5758
5714 5712
5714 571;
11712 1171 11738 1173^ 1171a 118
♦117 118
733( 743,
74
743j
74
741
7312 7438
♦10 2 IO5 I4 *102 IO5 I4 10312 1031 *1031 : 105U
♦223 230
225 225 *223 230 *225 230
8 I4
8 I4
*734 81,
8*8
83S *814
8*4
*41
42
42
42 M423
l ' 8 42
391, 41
3812 3812
30I2 3 8 I4 301, 37
17
17
17
1778 1734 1734 1 0 1 2 1612
45
4512 457g 4G12
40
45U
40l4 45
GO goi2 60
00*4 601g 0034. 5938 001 ,
♦11612 11712 *117 118
1181g 118!8 118 118
10
10
10
0 1,
97S 0 ?g *9
9»s
557g 53
♦53
*5234 54
53
53
5314
8 8 I4 8 8 l2
88
88
88
*873.4 881
8 8 I4
03
0412 93U 04*8 03t2 0578 9418 0534
112 1 1 2 1 o 1 1 1 1 2 1 1 1 1
112
H 2 I4 1117g 112
♦250 300 *250 300 *250 300 *250 300
♦ 10 1
10 0
*101 100 *101 100 * 1 0 0
106
48t4 40
48*4 4878 4834 4878 4834 50>8
1260 128
12G12 127*s *127 12734 12GU 12G34
♦123 12G
125 125 *124 126 *124 120
1403.| 141
140*8 12078 1401, 14078 140 1401
10034 1007s 10078 10078 10034 100's 1 0 0 3 4 101
*3312 35
341, *331, 35
3334 3414 34
10334 10334 10378 10378 *10314 10414 1031, 103<8
483g 4812 47*8 48'2 4718 48
47
4712
♦107 '112“ *10712 . . . *10734 ___ *10734 . . .
♦107
*10734 . . . *10712 ___ *1071, . . .
5 ‘ *53«
4?8 5
*47g 5
3012 3 114
31
301,
31
30>8 301, *20
♦60
00
60
02
62
*60
04
*59
♦139 140 *130 140 *139 111 +130 141
*18
18
19
1S12
I 8 I4 I 8 I4 *18
10
*30
34
*30
34
*30
*301.1 35
34
3 H4 3114 *31
31
31
313g
31
3 H4
*104
10434
104*4
105
104lo 1041 10412 1041
44
411
44
44l8 433g 443g 43U 437g
0334 043g
0412 G412 02*4 04
031, 031,
1403j
14034
+130 141
140 141
*130 141
227S 23lg 2278 23
23
23l8 227g 23
867g 8078 87
86*8 87
87
80*8 86*8
571, 571, *50
61
61
5712 5712 *57
40
♦30
39*4 *39
39*4 *30
Z381.1 39
*70
*70
88
88
*70
*70
88
88
*8712 00
*8712 90
*8712 00
*8714 00
♦215
♦15
♦51>2
»212
45's
i.>ANKfc>
Banks
HU
ASk
B r o o k ly n
Banss
B r o o k ly n
AND
uu
105
Borough 11. 00
Vorth SfdeTt 140
410
Peopl :’ s____ 155
Broadway 1 1)350
145
Brooklyn 1,.
Prosp’ctPkli 150
260
245
First ______
Terminal 11
H lU sIdeli... n o
130
iJuTonH__ rioo"
Home Bk 1,. 111)
125
125
Homostcadl 10J
1rust Co’ s
420
Manufac’rs
N Y C it y
460
Mechanics’11 240
26 1 Vstor _____ 325
Hankers’ Tt 730
Montauk . . 14U
146
'-70
N assau____ 240
li’way T r .. 140
<10
Nat C ity___ 290
0 Bid and asked prices: 1 1 1 saics on tins day.
1 Sole at Stock litxchangc or at auction this
TRUST
A sk
Trust Co’ s
160
Carnegie . .
Central T r.
Columbia . .
Commercial
Com'wealth
Empire
Eqult’b 'c Tt
Farm Lo&'l
Fidelity . .
Fifth Av Tr
F u lto n ____
160
120
145
N YCUy
C O M FA N 1E S— B A N K E R S ’
HU
A tk
Trust Co’ s
Guar’ty T r.
1871? 19712 Guardian Tr
6975
H u d s o n __
265
Knlckefb'kr
145
148
Law T IA Tr
155
Lincoln T r.
300
275
Manhattan
475
405
Mercantile
1310
Mctropol’ tn
203
207
Morton T r.
400
420
Mutual____
270
.... Mut AU’ nco
_
HU
690
140
170
1347
250
105
370
725
552U
600
120
120
Ask
Q U O T A T IO N S .
Trust Co’ s
NY Llfe&Tr
N Y Trust.
Standard Tr
T itleG u& Tr
260
Tr Co of Am
170
Union Trust
300
US Mtg & l i
750
Unit States
6621; Van Norden
Washington
127
Westehestei
130
Windsor . .
710
__
__
__
biu
Ask
1090 1116
575
350
50)
512
365
385
1275 1300
410
466
1215
250
276
•475
410
145
155
135
145
trust Co’ s
Bid
B r o o k ly n
Brooklyn Tr
Citizens’ . .
Flatbush . .
Franklin . .
Hamilton . .
H o m e _____
Kings Co . .
1. Isi L & Tr
N assau____
People’s ___
A'llllamsb'g
415
135
200
200
265
110
490
300
150
t295
80
430
145
— 1
27T
b io
315 I
170
iobH
5 Loss than lo o shares, x Ex-rights. t> Nov.* stock, c Ex-dlv. and rights, d Now quoted dollars per shareweek. s lru st co. certlllcates. 11 Banks marked with a paragraph flj> arc State banks.
New York Stock Exchange— Bond Record, Friday, Weekly and Yearly
Jan.
1 1909, t h e E x c h a n g e m e th o d o f q u o t in g b o n d s w a s c h a n g e d , a n d p r i c e s a r e n o w aV.— “ a n d i n t e r e s t " — e x c e p t f o r in c o m e a n d d e f a u l t e d b o n d s.
B ON DS
N . Y . STOCK E X C H A N G E
W eek E nmno J uly 9
W eek?*
R an ge or
L a st S a le
P rice
F rid a y
J u ly 9
R ange
S in c e
J an uary .
B o n ili*
N. Y. STOCK E X C H A N G E
P r ic e
F rid a y
J u ly 9
W eek E n din g J u l y 9
Wee/Ss
R an ge or
L a s t S a le
R ange
S in c e
J an u ary
H tg k
B ia
a s h L ow
[Cent of Ga R R —( C o n )
77*4
3u prer income g 5a___p l9 4 i Oct ........ 77 *, 77%
101*2 101*4
80
J
’ne’09
........
77*4
3
d
pref
incom
e
g
6
s
stampe
1
.
102*4 May’09
102*4 103
9 0 % ........ 89% F e b ’OS
Chatt D iv pnr mon g 4s. 1951 j - i )
02 J ’l y ’09
102 103Ba
M a c * N or D iv 1st g 58.1946 j - j 105*2........ 104% J ’ne'08
102*2 J’ne’"9
1 0 0 \ 1 0 2 *2
Mid Ga & A tl Div 5 s . . . . 1947 j - j 105 10934 115 N ov’05
100*4 N ov’08
Mobile Div 1st g 6 s....... .1946 j - j 110*2........ 1 1 0 % May’OO
119*4 May’Oy
119*4 119*4
Oen RK«fe B o fD a col g 5s 1937 vl-N 104%105 104 >2 May’09
120
120
‘2 0 121
128*2
101 Mar’09
101 101*8 Cent of N J gen’ l gold o s. 1987 J-J 127 lJ83s 128%
127% May’OO
R egistered..................£1987
110
110 1 1 0
Am D o c k * Xmpgu 5a..1921
F oreig n (Government
Re & Hud B gen g u g o s 1920 j - j
Imperial Japanese Governin'!
Beh & Wilks B Coal 5 s ..1912 M-N 1 0 0 * 8 ........ 101 J ’ ne’09
9334
94 %
009a 34*2
Sterling loan 4% s........... 1925 F-A 1 94% Sale
Con ext guar 4*as___ffl910 Q-M 1003s........ 1 0 0 % J ’ne’UU
93
93 *2
89*4 94
2d series 4*as....... .....1 9 2 5 J -J J: 93 *2 Sale
N Y * Bong Br gen g 4s 1941 M-S 1 0 0 ........
87
87*2
87 *8 Sale
8034 8S»,
Sterling loan 4 s ............ 1931 J -J
IOI34 10 4 * 2 Cent Pacitlo S ee So Pacilio Co
R epnbol Cuba 5s exten debt.. M-8 102*2 1033;, 102*2 J ’ly ’0!*
89*2 8934 89% J ’ly'Oo
CentVermont 1st gu 94s.#1920 Q-F
9 334
94*2
1192*2 95
San Paulo (Brazil) 5s tr roots’ 19 J-J 11194*4 Sale
98
93*2
98 *2 Sale
97»4 101 *a Chas & Sav S ee A tl Coast Bine
i; S o l M exico s t g os ot 1899 Q-J
21 92*4 95
9 3 3 4 ........
94
94
Cbes * Ohio gold 6 s.........a lO ll A-O 101% ... 1 0 2 -T’ne’09
Gold 4s ol 1904................ 1954 J-D
1st consol g 5s................. 1939 M-N ........ 1 1 4 ‘a 115 J ’l y ’09
t T h e s e a r e %>r ice s o n th e b a sis o f $5 to £ .
114 *2 F e b ’ 09
Registered.....................1939 M-N
S ta te and C ity S ecu rities
110 N ov’08
Gen funding * u n p t5 s.l9 2 9 J-J i o i ®8 sale" 101% 101a4
Dist o t Columbia 3 ,0 5 s ....l9 2 4 F-A 103 .. .
104*2
104',
104
'2
bale
105*aDec’04
M-S
General
gold
4
%s............
1992
95
..
.
tiomsiaua new consol 4 s ..1914 J-J
Registered.....................1992 M-S 103 ........ 105 A p r ’09
N ew Vork C it y 88%
89*4
89*4 Sale
101*8
Big bandy 1st 4 s ............1944 J-D
100*2101
4 s when and as Issued. 19o9 M-N 10U t Sale 101
Craig Valley 1st g 5 s ....1940 J-J 109 112 110 May’09
101 103
4% Corporato s t o c k ___1958 M-N 101 102*2 101 >4 J’ne ’ 0 9
1 i>1 34 D ec’08
Potts Creek B r 1st 4 s..1946 J -J K......... 90*2 90 J a n ’09
4% assessment bonds ..191S AIN
99*4 J ’no’o'J
B * A Div ls t c o n g 4 s ..l9 8 9 J-J .........100
11*2 l H 7t 63 1 1 1 *8 1 1 2 * 2
N ew 4 ' i s ..........................1957 .M-N il*i% Sale'
93*2 96V 0 6*4 A p r’ 09
104*4 May’09
2d consobg 4 s................1989 J-J
104 10434
N ew 4 % s..........................1917 M-N
Warm Spr Val 1st g 5 s..1941 M-S 107 8S ........ 113*4 l 'c b ’05
11*2 i i l a(
4 W o Corporato Stock ..1967 M-N i ' l i “4 Sale
l 1% 112*2
93
95*v 9 5 bep ’ 0 8
Greenbrier R y ls t g u g 4s ’40 M-N
104 104*2
4 W o assessint b o n u s ....1917 M-N 104% 104% 1043b 104*8
77% J ’ne’ Oi
101 103*4 Chic & A lt R R ref g 3 s ...1949 A-O ........ 7734
4% Corporato Sjtook— 1957 M-N 101 ....... 101 J ’ne'oO
75
R a i l w a y 1st lien 3 *2 8 ...1 95 0
J 76 bale 74*2
1 2 % 1133g
N Y State—Highway 4 s.. 1958 M-S 1 1 2 * 2 ..... 113% J*ue 09
73 F e b ’O’J
102*4
Jan
’09
Registered.....................
1950
101
.......
J-J
102*4
102*4
s o Carolina 4 %s 20-40........1933 J-J
110
9534 F eb ’OP
9534 .......
95*2 9634 Chic Burl * Q—Denv D 4s 1922 F-A ib’6 * sale" 100
Tenn new settlement 3 s..1913 J-J
00% 100*4
91*a May’ 09
90
93
General 4s........................ 1958 M-S 10U Sale
91*2
Virginia fund aont 2-8s...'199i J-J
90 *4
90 *2
00*a Sale
40
45
XUmois D iv 3 * 2 3 .............. 1949
45
45
J
37*4
Os deterred Brown Bros etfs.
Ol3- D e c’Ob
Registered.....................1949
J
R a ilro a d
His Div 4 s ....................... 1949 J-J 10 L*4 Sale 101*4 101*4
Iowa D iv sink fund 5 s ..1919 A-O 105*4 ....... 10534 A p r’OtCent S ee So By
A laoama
99%
99% 100% 99%
Sinking fund 4s............ 1919 A-O
laba Midi S ee A t Coast Bine
10 0 * 4 J ’no’09
Nebraska Extension 4S.1927 M-N 1 0 0 1 0 1
Albany <&Susa S e e Del <&Hud
101 % Mar’ 0 0
Registered.....................1927
M-N
Allegheny Valley S ee Penn BU
99 * 4 ........ 1 0 0 *4 -May’09
Southwestern D iv 4 s ....1921 M-S
Alleg & West S e e B ull It & P
Joint bonds S e e Great North
........ 83*6 85*4 J ’ne'09
84
S7%
Ann A rbor 1st g 4s.........A1996 y-J
1013
4 ........ 10134 101%
Debenture
5s..................
1913
1
0
1
*
4
1
0
1
%
M-N
Atoll T & S Fe—Gen g 4s. 1995 A-O 101 *4 Sale
10 0 * 8 1 0 1 * 8
H a n * St Jos consol 6 s. .1911 M-S 103 103% 103*4,T’ne ’ 0 9
99*8 ........ 100*8 J ’ne’09
99 100*8
R e g iste re d ......... ........... 1995 A-O
88
*2
88*4
89
C
h
ic
*
E
111
ref
&
im
pg
4s
1955
93
*2
93
*2
J-J
93
*
2
.........
92
95*2
Adjustment g 4s.......... /il995 Nov
1st consol g 6 s ................. 1934 A-O 120 131 137 May’Oe
92*4 F eb ’ 09
92*4 92*4
R egistered................. £1905 Nov
93*.;
93*,
General consol 1st 5s___1937 M-N 114 114% 114 J ’ ne’09
92*9 95*a
Stamped...................... A1990 AI-N ’ 93*2 Sale
114 May’ o9
Registered.....................1937 M-N
115*8 Sale L14% 115*2
112*4 115*2
Sub roots (full paid) con v 4s
C h i c * In d O R y 1 s t5s. 1936 J-J iia *a i io * 113*2
llg ^
10 2 * 2 116%,
Conv g 4 »......................... 1955 J-D 116 Sale 115*8
117*6
ld534 117*6 Chicago & Erie S ee Erie
10-year conv g 5 s .........1917 J-D 117 Sale HO
10
128
Sale 128
99 *2
99*2
99 .......
09*u 99*2 Chic In & i-iouisv ref 6 s...1947 J -0 128
Debentures 4s SeriesH .1910 F-A
Refunding gold 5s.......... 1947
J 113 ....... 1 1 2 % May’ 09
96*4........ 98*2 Nov’ 01
Senes 1..........................1911 F-A
Bouisv N A * C h ls t6 s .l9 1 0 J-J 1 0 i 34 sale 1 0 1 % 1 0 1 %
98*3........ 98*2 T’ ne’09
98 *2 '9 8 *2
Series K ........................ 1913 F-A
Chic M U * St P term g 5s 1914 J-J 104% 105*8 104% May 09
97
97*4 9 7 *aJ ’ne’09
97
99
East Okla D iv 1st g 4 s ..1928 M-S
104
General g 4s series A ..e l9 8 0
94*4
94*4’
J 104 Sale 104
94 *3 Sale
94*2 96*4
Short Bine 1st 4s g .........1958 J
103 *2 Oct ’08
Registered...................sl989 y-J
Atl K n ox <fe N S ee R <fc N
"b o *4 bale
90 *2
'•>l
95*4
9534
9634
sale
j
General
g
3
*23
senes
B.e.1389
94*4
96
Atlantic Coast 1st g4s.A 1952 M-S
C h i c * B S u D i v g 5 s ....1921 j - j 108a4 ......... 109% May’OO
Charles & Sav 1st g 7 s.. 1936 J-J 132*4......... 127* j ’ne’ou
Chic & M o R iv D iv 5 s ...1926 j - j 112% 113*2 112% i ’ uc’09
m*** \ W
tjav F «& VV 1st gold 6 s..1934 A-O 126*4........
Ohio * Pac D iv 6 s........1910 j - j 1 0 1 1 0 1 % 1 0 1 *4 J ’ue’ ot
112*2 114
1st gold 5s.................... 1934 A-O 112 *2 Sale 1 1 2 * 2 113*2
May’09
O h io * P W 1 s t g 5 s .......1921 j - j 109*s 110 109*4 J ’l y ’0
U 0 *8 l i 0*8
Ala Mid 1st gu gold 5s ..1928 M-N 110 111*6 110*8
96*4
J
’ne’09
Dak
& Gt So g 5s............1916 j - j 104*8 105*4 105% ivlui’09
96
.......
96*4
96V
J
B ru n s * W l s t g u g 4s ..1 9 3 »
137*2J'iy’9SSO *2
90
Far & Souaissu g 6 s ....... 1924 j - j 120 ..
90 Sale
86
93 *2
L <&N coll g 4s..............01952 M-N
9
7
*4
J’ne’09
Hast & D D iv 1st 7s.... 1910 j -j 10138 101% 102 *2 May’ OO
97 .......
97
97*4
Sll Sp Oca <fc G g u g 4 s ..1918 J-J
1 0 U* 2 ....... 101 Mar’ 09
1st
Os...........................
1910
j
j
Atlantic «fc Danv S e e South Ry
B aC ro sse * D 1st 5 s ....1919
j 1 U8 % ....... 109*2 Nov 08
Austin & N VV S ee Son Pacific
94 *6
Mineral Point D iv 5s___1910 j - j 10034 ....... I01a8 May’ OO
93*8 94*4 9 3 *8
93
94*6
L)ait& Ohio p riorig3*2S .1925 J-J
101
101 bait 101
93
May
’ 09
,
So
Minn
D
iv
1st
6
s
........
1910
j
9J*4.......
02
93
Q-J
n
Registered.............£ 1 9 2 6
100a8 May’OO
0*2
10 0 * 8
Southw estD iv 1st 6 s....1909 j - j
99*4 101%
Gold 4 s ........................... h l V i b A-O 100s* Sale 1099*6
110 .uay’09
J ’l y ’09
W i s * Minn D l v g 5 s . ...1921 j - j 109% ..
99 10034
R egistered ................. £1948 Q-J
1 0 1 * 4 J’no'oo
130 OOl ’0 1
MU & N o 1st M B 6 s___1910 j - u 101% ..
Pitts Juno 1st gold 6 s ... 1922 J -J 108 ..
107j4 J ’ne’09
b J ’ne’uo
1st consol 6 s ................. 1913 J-D 106 ..
89*4
P J un & M D lv 1st g 3 *<181926 M-N ......... 8 8 * 3 883
114 11538 114*4 J ‘iy 'oo
93
93*4
93*4 Sale
Chic & N orthw cons 7 s ....1 91 0
96
P R E<& VV V a S y s re f 4sl941 il-N
101 103 1 0 2 J ’ne’oo
Extension
4s.........1886-1926
90*2
91
........
90*3
&
A
91*e
J
sSouthW Div 1st g3*aS...1925
91 A p r’09
Registered.......... 1886-1926 F-A 100*2........ iuo*2 J ’ue’ou
91
R egistered..................A192o
92
02*8
92 bait
105*8 F eb ’07
i b o " II
General gola 3 *<j3 ............ 1987 M-N
Motion R iv 1st gu g 5 s ..1919
93*8 Apr ’09
103
J
’n
e’09
R egistered................. «1987 y-F
102*3.......
103
103
M-S
Oen Ohio R 1st c g4*2S..103u
113
113
Sinking fund 6 s ...1878-1929 A-O 1 *1 2 ** *."*.“ 111 *2 May’Oo
110*« 1133,
Cl Bor & W con 1st g 5s 1938 A-O 113 bale 113*2
l09a
4
F
o
o ’Ou
ob ’09
Registered.......... 1879-1929 A-O 110 *2........
113*2 113*2
Ohio R iver R R 1st g 5s. 1936 J-D 113 ....... 1 10 * 2 JF’ne'09
Sinking fund 6 s ...1879-1929 A-O 108*2 109', 108*2 J ’ue’oo
108*6 112
General gold 5s.............1937 A-O 109 110*2 n o *2 M ai’04
HO3,
Jan
'09
Registered.......... 1870-1929 A-O
Pitts Ciev * T ol 1st g 6s 1922 A-O 110*4 ..
Debenture 5s................... 1909 M-N lo o *4 1 0 0 % 10 0 * 2 J ’ue’oO
98 A p t ’09
98*4 ..
08
98
J-J
Pitts & W est
100% Muy’ ou
M-N
Registered.....................1909
100
N
ov’
U
4
J-D
Stat 1st Ry
Debenture 5s................... 1921 A-O 107 109% 107 *aJ ’no’ 09
Beech Creek
103 J ’ne’o7
Registered.....................1921 A-O
Belle v & Oar S ee Illinois Cent
111 113 113 j ’ne’oo
Sinking fund deb 6 s.......1933 M
Bklyn & Montauk S ee Bong 1
109 J ’l y ’Oo
113
Registered.....................1933 M-N
B r u n s * West S ee A tl Coast B
101 A p r’09
North Illinois 1st o s ___1910 M-S 1 0 0 *y 1 0 1
Buttalo N Y * Erie S ee E n o
J ’no’09
119
llb%
119*2
M-S
M
U
D
S
*
West
1st
g
6
s
1921
117 May’09
116*2 11738
BuBalo R * P gen g 6 s ...1937 M-S 11634 .,
_
Jan 09
115
113
E xt * Imp s land g os 1929 F-A
109 110*t
Consol 4 * 2 8 .......................195) M-N 110 *6110*2 110*8 j ’l y ’ Ofl
142*2 F e b ’Oi
122
M-S
Ashland
D
iv
1st
g
6
s..1925
100
J
a
n
’09
100*4.......
1
0
0
1
0
0
A-O
A ll & West 1st g 48 gU..1998
123%
A p r’09
l2l*s»
123%
J-J
103 J ’l y ’08
Mich Div 1st g Os.........1924
Cl * Alali 1st gu g 5s---- 1943 J-J 116*8.
In co m e s ........................ 1911 M-N 101 103*- 103*2 Ma> ’09
ii8*a iV o "
Roch & Pitts 1st g 6 s ...1921 F-A 118 11834 118*2 J ’ne’09
113*4 ill* . 113*4 J’ne’09
Clilc
Rock
1st
&
Pac
6
s...1917
118%
1
2
1
*
2
J
121*6
J
’ne’09
120*»12l»2
J
-D
Consol 1st g 6s.............1922
Registered.....................1917 J-J 113*4........ 112 % J ’l y ’ 08
Bnttalo * Southwest S ee Erie
100*2
39 3 4 May’09
General gold 4s................1988 J-J 100 Sale 100
83
87*2 90
But! & Susq 1st ref g 4s.til961 J -J
Registered.....................1088 J-J ........ 9934 100% A p r ’09
Bur C R & N ■S ee O R I * P
91%
91%
9
1
a4
Salb
Refunding g 4 s .............. 1934 A-O
106*
106*8107
/ tan So 1st ext 6 s ............1913 J-J 106*2....... 106*8
97 J ’l y ’04
99 .......
10 3 * 4 J ’ne’09
CoU trust S eries!! 4a .. 191b M-N
102 103
v^2d b e ................................ 1913 ,Vl-S ......... 102
9 7 J ’ ue’09
97 .......
M-N
J
48................................
1912
1
0
0
34
May’
07
Registered..................... 1913
94% 96% 9 4 *2 Mar’09
M * s ................................ 1915 M-N
Carb * Shawn S ee 1U Cent
9 5 % .......- 93% F eb ’09
N 4s............................... 1911 M-N
Carolina Cent S ee Seab A ir B
93*4 95*4 9 5 F e b ’09
M-N
O
4
«.................................1917
Carthage & A d S e e N 1 6 * 1 1
92% 94% 84 Aug’07
P 4 s ................................ 1918 M-N
C’ed R la F * N S ee B C R & N
S03e
80%
80% Sale
M-N
Chic
R
X
*
Pao
R
R
4S..2002
Ceu Branch Ry S ee Mo Pao
05 A ug’08
R
egistered....................2002
116*2
F
e
b
’09
M
N
115*2 116*2
Cent ol Ga R R 1st g 5 s..p l9 4 5 F-A 1153i . . . .
93
93
'«
2
%
CoU trust gold 6 s ........ 1913 M-S
110%
1U
10838 lllS a
Consol gold 5 s ... ... ... ..1 9 4 3 M-N 1 1 0 *2 l U
Bur Ced R * Northern—
113 A p r’06
Registered..................... 1946 M-N
DO*#
Con 1 s t * col trg 6 s . ..1934 A-O 114 116 115 May’09
90*e J’ne’09
1st prel income g 6a. ...p l9 4 6 Oct ......... 91
1 2 0 * 2 Mar’03
90
Registered................. 1 9 3 4 A-O
90 J ’ne’09
Stam ped................................
111
N ov’oa
8334 J’no’09
84
C R IP * -N VV ls t g u 5 s . 1921 A-O 108
2u prei income g 6s___ p l945 Oct
8
4
M
*
St
B
1st
gu
e
7
s
..1927
J-D
83 H>J ’ne’09
2d pref income v 5s stamped
H ut
as*
II. » , tio v e n u iicn i
101 101%
U S 2s consol registered.41930
101% 102
U S 2s consol coupon___ it 1930
101*4 102
U S ;>s registered.............£1918
101*4 102
\J S 3s coupou................... £1918'
U S 3 s cou small b on d s..£1918 j-F
118 119
O S 4s registered....... .....1 9 2 5
120 ........
D S 4s co n p o n ..................... 192o a
U S Fan Can 10-80 yr 2s.fcl93b Q-N 100*2 101*2
u
n
L ow
H ig h
L o w H ig h
1 0 1 * 2 10 2 * 8
T.j
tl
L ow
63
54
2j
H ig h
80
80
110*4 110*4
104 106
L27 129
126 127%
109 110%
9934 1 0 1
99% 100%
80% 89%
101%103%
114% 117 :
113 % 114*2'
10()34 103%
104
105
88%
L06%
105
91
107*2 1 1 0 %
90
90
99*4100%
96% 96*4
78
80
73% 77
73
73
;
9 3 34 1 0 0 %
98
90
101
93
100% 103%
105% 106
99% 101%
L0 0 % 1 0 2 %
1 0 1 % 1 0 l%
99
1003g
01% 103%
103*4 10334
85
90
L29% 137
114 115%
114 114*4
113*2 110
127 129 '
112*2 114%
101*2 102*4
104% 105*4
102*2 104%
90
9234
10934 109%
1123b *13%
lOl *4 1 0 1 %
1U9% 110*2
L05 >2 106%
io2*a ib*2%
10 1
10 1
ib*i*% ib*i%
10 1
10 2
1003s 1 0 0 %
109% 1 1 0
10 1» 4 1 0 1 %
107% 107%
114*4 110*2
101 102
99% 101
90% 94%
93% 93%
1*0*9% 109%
108 109
11034 11034
190*4 101
100% 100 %
LU7 *2 109*4
111% 113*2
ib*£** ib*i%
119 119%
113% 115
122% 123%
103*2 103%
113% 114%
99% 101%
99% 100%
90% 94
b y * *97**
94*2 94%
9334 0334
95
95
75% 82%
87% 94*2
115
117
I iSC E B E A N E O lJo IW . m -,—Conlinued on .Next P age.
A-O
J -J
J-J
M-N
F-A
F-A
F-A
F-A
J-J
J-J
J-J
A-O
J-J
FA
A-O
M-N
J-J
.1 . s
82% J ’ne’ JO
81%
43%
43% ■ * 6 43%
43 >2 sale
103 :
103 105 103 J ’ne’OU
100 J ’ne’09 ___ 1 0 0 102*2
.
.........105
10 0
...... . 100% J’ne’ 09 ■*’ i 1 0 0 102*2
65%
70%
7 0 -.
69
71 1 2 2 b3 *4 72%
69 % Sale
4 108 115%
108
109 111 1 0 8
........
93% J ’l y ’ 06
85 % " i 83%
m i n * 8 6 * 85 %
i b i ........ 98 N ov’08
........
1 1 0 % Nov’06
9b
98
99*4........ 98 A p r’09
84*4
84*4 "i 73% 85
84% bale
b 22
37
37
37%
37 Sale
84 Oct ’98 ■■ .. ...
75%
:i9%
m i n " 7 6 % 75%
........ 8 6 % 85 J ’no'Opl
1 ‘ -4% '36
oc
Brooklyn Rap T r g 5s....... 1945
1st relund conv g 4 s___2002
BkOity ls t c o n 5s. 1916.1941
BkydOtSi S con gu g 5s. 1941
.........107
8534 Sale
103% dale
9U
99*2
103 *4 Sale
103 % .........
87 * 2 ........
87*2........
81
83
101%102%
102 102 *4
ah*
00
S treet R a ilw a y
Met St Ry gen col tr g 5s. 1997
107 J ’ne’09
102 *, 108
Ret g 4 s............................ 2 0 0 2
85%
87 *1*2*5 81% 89*2
BwayiSi 7th A v ls t o g o s 1043
1U3V 103 V 2 102% 105
C ol< fc9 tliA V lstgu g 68.1903
99 >2 Mar’09
99% 99*2
Bex Av«fe P F ls t g u g 5s 1993
19 100% 106
103*4 104
Third A v e llH con gu 4s 2000
103 J ’ne 08 .... 102% 103
C en tT r Co certfs stw pd ...
87% May’09
86
87%
88 J ’l y ’ 09 .... 85
Third A ve Ry 1st g-5 s..1937
88
82
82
Met VV S El (Chic) 1st g 4s. 193e
78% 84
Nassau E lec gu g 4 s ___1951
102% F eb ’ 09
192%102% N Ori B y & Bt gen 4%a ,,1035
Conn R y & B ls t & r e f g4*as’ o l
1 0 1 % Mar’09
St Jos R y Bt H & P 1st g 5s *37
101%102
Stamped guar 4 % 8 ........ 1951
95
J ’ne’ OO
St Paul City Cab cou g Os.1937
Den Con T r Co 1st g 5s. ..1933
Underground of Bon o s ... 1921
8 1 % " 8*5 "
Det United l s t con g 4 *2 8 .1 9 3 2
" I I " *8*2* 82*2 J’ne’09
89
92 J ’ne’09
92
4 % s....................................193:
Havaua E lec Consol g 5s. 1952
89
92
Incom e 6 s ........................ 1948
81%
79%
81% ■>426 76
81%, Sale
Inter-Met coll 4 %s............ 1956
104 *2 ,Sale 104*2 104% 81 103 104% Union El (Clilc) 1st g 5 s ..1946
Inteif Rap T o-yr con v 6 s. 1911
72% United R R s San F rs f 4 s. 11)27
« ......... 71% 7 2 j ’ne’ 09 .... 72
in ternal Trac coll tr 4 s..194;
United Rys St B 1st g 4 s .1934
98 Ma* ’06
Manila Elec 1st <& coll 5 s .1953
N o price F rid a y ; la te st this ween. HFlat. s u it e o an a D ue A pr e Due May j a u o j n e ^ D u e j 'i y « u u »
S t r e e t ttu ilw n y
o u a e Oct
jiu
u a .so v
4 Option o.ue
•July 10 1909. |
y
\X .
U O M )»
T . STOCK E X C H A N G E
W eek E ndino J uly 9
tr ic e
F r id a y
J u ly 9
R ange
S in c e
Jan u ary 1
W eeK fs
R anqe or
L a st S a le
H ig h
H ia
a s A Iah o
Ohio Hock i & Pac— ( C o n )
102 Aug’0«
Choc Ok * G gen g 5a .ol919 J-J 1044 ...
Consol gold 5s.............1952 M-N .........1114 I I I A p r ’09
105 Mur’ 02
K e o k * D esM 1 st5 s . ...19211 A-O
Ohio 8 tL < fcW O S ee IU Cent
Chic St L * Pitts S ee Penn Co
Chic St P M * O con 6 s ... 1990 J .D 129 4 1 30 1234 J ’ ne’ 09
92 4 ........ 93 D e c’ 03
Cons Os reduced to 3 4 s . 1930 J-D
i
Ch St P So Minn ls t g 6 s 1918 M-N 128 ........ 1 284 1284
.
127
........ 129%May’ 0
J-.I
. N or W isconsin 1st 68...1990
- St P & a City 1st g 6 s ... 1919 A-0 1154 117 1154 May’ 09 ..
C hic * Weat I nd pen g 6s q \932 Q-M 1 1 0 4 ....... 1124 A p r ’09 ..
Consol 50-year 4s...........1952 J . J ......... 94 7f 9 5 4 J ’ne’09
C h ic * W M id i s e e Pore >larq
C hoc O * Gulf S ee C it 1 * P
113 vOct-’ 00
99 .
Oin 11 * D 2d gold 4 4 s . . . 1937 J-J
107 4 J’ne’ 09
Cln D & I 1st pa g 6 s ... 1941 M-N 108 .
80 .
: C Find & F t w 1st gu 4s g.*23 M-N
70 Aug'08
92
4
.
J-J
'■ Cln 1 <& W 1st pru g 4 s .1953
9 6 4 Jan *09
ln d D ec * W 1st g 5 s ...1935 J-J 109 .
1074 D e c’02
1st guar gold 5a...........1935 J-J
0 I St L * C S ee O C C * St L
rOin a & c S e e C C C St L
Clearfield * Mali S ee H K * P
97
9 7 4 47
974 974
.Olev Cm C & St L gen p 4s 1993 J-D
95
97 May’09
Cairo D ir 1st gold 4 s....1939 J-J
924
94 4
914
rf^Cin W * M Div 1st g 4 s .1991 J - J
954
9 5 4 964 954
* Bt L D ir 1st col tr g 4 s..1990 M-N
91 Oct ’07
.Registered................... 1990 M-N
96 .
92 F eb ‘Ob
Sprite Col Div 1st g 4 s ..1940 M-S
96 .
98 Sep ’06
W W Vai Dlv 1st g 4 s ...1940 J-J
106 Apr'09
. O 1 St L & C consol 6 s..1920 M-N 105 4 .
984 9 8 4 J’ ne'Uy
1st gold 4s............ „...fcl03 6
974 97 O c t ’08
R egistered .............. Hcl936
1094M ay’0'J
109 4 Cln 8 * Cl con 1st g 6 s.. 1928
1144 S e p ’ OS
C C C * I consol 78......... 1914 J-D 111 .
Consol sink fund 7s___1914 J-D
General consol gold 6s. 1934 J-J 129 129 4 130 N ov’ 08
j
Registered.................1934 J-J
95 101
94 J’ l y ’ 08
' ln d Bl & W 1st prof 48.1940 A O
1 O ln d & W 1st pf 5 s ...(<1936 Q-J
93
i P eo ifc East 1st con 4 s ... 1940 A-0
93 4 96 J’ ne’09
47
52
50 J’ nc’OU
Incom e 4s...................... 1990 Api
Clov ifc Marietta S e e Pen u Rit
Clov & Pitts S e e Penn Co
83
83 Hale 82 4
;Col Midland 1st g 4s.........1947 J-J
934
98 Sale
98
Colorado * Sou 1st g 4s. ..1929 F-A
99
99
99 4 Sale
Refund ifc ext 4 4 s .........1935 M-N
Golum ifc Groonv S ee So Ry
Col •& llo c k Vai S ee H ock Vai
Col ifc Tol S ee H ock Vai
Col Conn ifc Term S ee N * W
Conn <fc Pas R lrs 1st g 48.1943 A - 0
95 Jan ’ 09
Cuba R R 1st 60-yr 5 g ___1952 J -J
& G t ao s e e C M <fc St P
D ak
alias <fc Waco S e e M K * T
Del Hack ifc W estern—
MorriSifc Essex l s t 7 s . .. 1914 M-N 1 134 in* 113 % J ’ne’09
1st consol guar 7s.......1915 J-D 1 16 4 1 16 4 116 4 J ’ne’09
Registered..................1915 J-D 1 1 6 4 ........ 127 J ’ne’05
94
964 964 M ai’09
1st ref pu g 3 4 s .......... 200U J - D
. N Y Hack <fc W 1st 6 s ...1921 J-J 119 1 204 119% J ’ne’OU
Construction 6a.......... 1923 F-A 1 1 0 4 ........ 1104 1104
Term «fc im p rov e4 s....1923 M-N 1104 1104 100 4 100 4
93
.......... 102
Feb’ 03
W arren 1st ref g u g 3 4s.2U00 F-A
Del & Hud 1st Pa Div 7s. 1917 M-S 120*4....... 120 4 M ay’ 09
Registered.....................1917 M-S 120 4 ....... 149 Aug’01
■ 1st &rof 4 s .......................1943 M-N 1u2 ....... IU1% J’ ne’09
10 6
. 1 0-y rcon v deb 4s.......... 1916 J-D 106 Sale 106
’ 1st lien equip p 4 4 s ---- 1922 J-J 1 034 bale 1035a 103%
106
106
•A lb * Bus conv 3 4 « ........1916 A-0 ........ 106
Rons <fc aaraloga 1st 7s.l92J .M-N 1 2 8 4 ....... 129 Nov'08
Del R lv R R liridpo S e e Pa RR
9 7 4 Sale
97%
97 _
I>env cfc It Gr 1st con g 48.1936 J-J
104 J ’ne’ 09
Consol gold 4 4 s .............. 1936 J-J
Im provem ent gold 5 s ...l9 2 s J-l) 102 4 ....... . 03 J ’ne’09
95 4 Sale
95
954
1st <fc retuuding 5a........ 1955 F-A
Rio Gr J uuo 1st gu p 58.1939 J-D * 1 0 8 4 ........ 98 F e b ’ O."
. . . . 77
78 J ’no’09
' Bio gr ao 1st gold 4 s....1 9 4 0 J-J
85 Mar’ Ob
Guaranteed................... 104o J-J
9 5 4 96* 964 J’ ne’ ul*
R io Gr West 1st g 4 s ....1939 J-J
85 J ’l y ’09
86
M ge and col trust 4sA .1949 A-0
97 J a n ’02
U ta liC e n tls tp u g 4 s «1917 A -0 ........ 96
Des Moi ifc F t D s e e M <fc a t L
110 S e p ’ 0*1
D esM oi Uu R y 1st g 6 s ..1917 M-N 105
93
95
95
Det ifc Mack 1st hen g 4s. 1995 J-D
91
92
92
Gold 4s...............................1995 J-D
Detroit Southern—
91
8 3 4 81 May’09
Ohio Sou Div 1st g 4 s . ..1941 M-S
Dnicfc lrou Rango 1st 6 s..1937 A O 1 1 1 4 1 1 3 4 1 114 J’ ue’09
106 4 Mar'o>
Registered....... ................1937 A-O
2d 6s..................................1916 J-J
Dul Short Line s e t N or Pac
1104 F eb ’ 09
Dal So'Shore * A tl g 6 s ..1937 J-J 111
LJaatof Minn s e e St P M * M
Aliast Teu Va cfc Ga S ee So Ry
110
L15 J ’ne’09
Elgin Jol ifc Last 1st g 5 s .1941 M-N
Elm Cort ifc N o S e e Leli & N if
Erie 1st ext gold 4s.............1947 M-N 101 ....... . 99 4 May’08
1 0 6 4 ........ 1064 1064
2d ext gold 6s................... 1919 Al3d ext gold 4 4 s ................1923 M-S 103 ........ 104 4 A p r’09
4th ext goiu 5s..................1920 A-O 1 0 6 4 ........ 107 J ’l y ’09
9 6 4 ........ 97 Jajj'UO
5th oxt gold 4s................. 192b J-D
1st consol gold 7s.............1920 M-S 124 4 Sale 124 4 1244
122 J’ ne’ 09
i 1st consol g fund 7s....... 1920 M-S 122 124
90
91
90%
90 4
Erie 1st con g 4s p rio r..1996 J-J
86 4 May’ uO
Registered.....................1996 J-J
79
1st consol gen lion g 4 s .. 1996 J-J *7*7 4 *784 78 4
85 4 F eb ’07
Registered.....................1996 J-J
80 ........ 89
89
Penn coll tr g 4s............1951 F-A
87 Sale
87
874
60-year conv 4s A .........1953 A-O
77 Sale
76
77 4
do
Series B ...1953 A-0
Bull N Ycfc Erie 1 st7S..1916 J-D 1 1 6 4 ......... 1 1 o Mar’U9
Ohio ifc Erie 1st gold 6 s ..1982 M-N 1 1 6 4 ........ 1164 1164
Clov cfc Mahon Vai g 6a.193b J-J 110 ........ 121 D ec ’08
Long D ock consol g 6 a ..1935 A-O 1 2 6 4 ........ 127 J ’no’ 09
Coal «fc R li 1st cur gu 6s. 1922 M-N 1 1 4 4 ........ 114 J ’no’09
D ock ifc Im p 1st cur 6 s ..1913 J-J * ........ 106 4 Llo A p r ’09
N Y * Green L gu g 5s. 1946 M N 105 ......... 108 M ar’OU . . . .
S
..
Low
H ig h
111
111
103
6 1 1 s and E lectric L igh t
,
Atlanta G L Co l s t g 5 s ... 1947
1014
Bklyn U Gas 1st con g 5s. 1945
107% 103 108 J ’no’09
73 Sale
Bultalo Gas 1st g 5s........... 1947
73
73
Detroit City Gas g 6 a......... 1923
101 102 4 10 1 4 J ’no’ 09
D et Gas Co con 1st g 5s. ..191b
100 102
95% Sep ’ 08
Eq G L N Y 1st con g 6 s ..1932
96 Msir’ O,"
__ ... 61 4 Oct ’01
G a s * E lec Berg Go e g 5s. 1949
85
Gen Electric deb g 3 4 s .. 1942
83
8 2 % J ’ne’09
150
1 0 -y r g deb 5s................... 1917
1494 Salt 149
Sir Rap G L Co lHt g 6 s ...1916
107% D e c '0 0
H udson Co Gas le t g 6 s .. 1949
102 J 'l y ’08
105
Kan City (Mo) Gas l s t g 5a 1922
10 0
May’09
96
Kings Co El L * P g 5 s ... 1937
118 May’09
Purciuiso money O s . J . 9 9 7
117
89
83 Sep '08
_ Ed E lllB k n ls tc o n g 4 s 1939
Lac Gas L o f St L 1st g 5 8 . 0 1 9 1 9
lu3 104 104 J ’ 110 0‘J
B el and ext 1st g 5s....... 1934
100 100 4 100 J ’ne’09
Milwaukee Gas L 1st 4 s.. 1927
91%
9 1 4 ........ 914
*A u price imuuy; latest inrt and asked this week, a Due Jan
RONDS
N. Y. STOCK E XC H A N G E
W kkk E ndino J u l y 9
Erie—( C o n )
105
128 4
129%
115*4
112
954
1294
129%
U9
1124
98
95
1074
M-N
M-N
A-0
J-L
»**u lOlWJII g u g o s ..
Erie <fc Pitts S ee Penn Co
Evans & T H 1st Cons 68.1921
1st general gold 5s___
i V ernon la t gold 6s
Still Co Branch 1st g 6<
.Aargo Jb So S e e Ch M .
1 lint PeroM S ec Pei
j
j
-j
J -J
A-0
A-C
A-0
J-J
J-D
J -J
96 4 9 6 4
H ia
a
WtCK*$
R a n ge or
L a st S a le
stc L o w
10476 10S
90
1L4
92
.........
,9 _
Hiqn. A o
105 4 May ol
90
May’OH
LOtfl JJUffL
105 4 1074
90
i o o ........ 1014 May’ Oi
1 044 106 4
112 ......... L14 J ’ ne’OJ
115 Sale 115
103 4 1 0 8 103
108 ........
R ange
S in c e
^ ? J an u ary 2
92
1014 1 024
1094116
115
May’Oi
1 113% 115
103 104 4
,,,
8 4 4 ........
........ 115
1 154 J ’ne’ Ol
115 4 1174
87*4 May’u'j . . . . 85
......... 83
88
97
A-0
J ’l y ’09
97
99
OCO ODO J. ......
Ga Car cfc N or S e e Sea A Line
9 7 4 9 8 4 Georgia Pacific S ee So Ry
95 4 97
Gila V G ifc N or S e e So Pa<
94
95
Gouv ifc Oswogat S e e N Y Cent
95 4 97*4 Grand R a p * lnd be* Penn RR
Gray’ s P t Term S ee St L S W
Gt N or—C B ifc Q coll tr 4s 1921
Registered, h ................... 1921
106 106
Greenbrier R y s e e d ie s cfc O
9 8 4 987« Guir * S 1 1St ref ifc t « 5s 51952
LI an * Ht J o S e e C B * Q
* 1 ousatonlc S e e N Y N H * II
H ock Vai 1st consol g 4 4 s . 1999
R egistered........................ 1999
Col * H V 1st ext g 4 s.. 1948
Col & Tol 1st ox 4 s ....... 1955
H oust E <fc W T ex S ee So Pac
Houst & Tex Cen S e e So Pac Co
9 6 4 I Uiuom Central 1st g 4 s .. 1951
56
L Registered.....................1951
1st ref 4 s .......................... 1955
1 st gold 3 4 « ..................... 1951
80
£7 4
Registered.....................1951
9 7 4 99
Extended lat g 3 4 « ........1951
9 6 4 1004
J -J
(J-J
J -J
A-O
F-A
95
95
113*8114%
1164 117*8
93*4 964
119*8 121
1104112*8
99 4 1 0 0 4
120 4 1 2 2
101 103
100 107«b
1 014 103*8
97 107
96
984
103 106
101*4 103 4
9 2 4 95%
78
80
95
83
100 4
87
95
92
80
82
1114 116
L104H 04
1124115
l U5 4 1063«
104% 1044
106 107
97
97
122 4 1 3 4 4
122 123
b5
91
8 6 4 86 4
6 9 4 au
*754 *9*0**
63
87 4
57 4 77 4
115 115
115*4 117 4
126 1284
112 4 1 2 0
106 110
108 108
9 8 4 Sale
105
Sale
98 4 99 4
99 4 99*4
08 A*
984
08*6 82 u 87 Bi 89 >
9 9 7 4 99
984
95
Oct ’ Or
105
1 054
3 104
9B34 ilay’ Ul!
9 9 4 F eb*09
109
9 8 4 98%
97
994
103% 104
J-J 1 0 4 4 ........ 104 A p r 09
J-J
107% A pr’ 07 ... .. .
M-N
997b Sain 99% 100
3i< 99% 1014
J-J ........ 92 4 9 3 4 J ’nc Oil
93% 9 4 4
91% Aug Ob
J-J ........ 94
A-0
9 3 4 5Lay’0i(
93 4 94%
M-S
A-0
.1952 A-O
M-N
M-N
J-D
J-J
Middle D iv reg 5s.......... 1921
Omaha D iv 1st g 3s.......1961 F-A
St Louis D iv*term g 3s. 1951
Register-oil.....................1951 J-J
Gold 3 4 s ...................... 1951 J-J
Regis tered..................1951
Spring Div le t g 3 4 s .. . 1951 J-J
Western Lines 1st g 4 s ..1951 F-A
Bellev * Car 1st 6s.......1923 J-D
Carb * Shaw 1st g 4 s ... 1932 M-S
Chic St L & N O g 5s. ..1951 J-D
Registered.....................1951 J-D
Gold 3 4 s ........................ 1951 J-D
Meinph Div 1st g 4 s ... 1951 J-D
St L Sou 1st gu g 4s___1931 M-S
lu d Bl * W est S ee C C C cfc St L
ln d 111 * la 1st g 4s.........1950 J-J
Lutifc Great N or 1st g 6s.. 1919 M-N
2d gold 5s..........................1909 M-S
3d gold 4s..........................1921 M-S
Iowa Central 1st gold 5 s.. 193b J-D
Gold 4s...............................1951 M-S
A * G R S e e L S & M s>
K al
an cfc M id i s e e Tol * O C
K C Ft S & M S e e St L * S F
K C * M It * B S ee St L * S F
Kan C * Pacilto S e e M K * T
Kan City Sou 1st gold 3 s.. 1950 A-O
Registered........................ iusu
Kentucky Cent s e e L * N
Keok * Des Mo S e e C R i * P
Knoxville & Ohio S ee So Ry
| ako Erie * W 1st g 5 s .. 1937 J-J
2d gold 5s.......................1941 J-J
N orth Ohio 1st gu g 5 s.. 1945 A-O
L Sho * Mich S S e e N Y Cent
Leli Vai N Y 1st g u g 4 4 s . 1940 J-J
Registered........................ 1940 J-J
Lehigh Vai (Pa) cons g 4 « .2003 M-N
Leli V Ter liy 1st gu g 5 s .1941 A-O
Registered........................ 1941 A-O
Leli V Coal Co 1st gu g Os.1933 J-J
L e l i * N Y 1st guar g 4 s ..1945 -Vl-S
Registered........................ 1 9 4 5 M-S
E l C * N 1st pf 6 s .......1914 A-0
Gold guar 6s..................1914 A-0
Leli * iiu d R S e e Cent of N J
L e h * Wilkesb S e e C c n i o l N J
Leroy * Cauey Vai S e e M o p
i^ong Dock S e e Erie
Long Island—
1st con g 6s................... A1931
1st consol gold 4s......... /H931
General gold 4s................193b J-D
Ferry gold 4 4 s ................1922 M- 8
Gold la ...............................1932 J-D
Unified gold 4 s ................1949 M-S
J-D
Registered.
M-S
M-S
M-S
A-O
N Y * R B 1st g 5s.......192' M-S
N or SUB 1st con g g u 6 so l9 3 ! Q-J
M-S
io i * 4 IO0 4 J ’ ne’oi
99 J’ ne’09'
i ’0 0 4 ......... 1 0 0 % 1 0 0 %,
io i
1
........ 1 0 6 4 100 A p r’ 09 ....
......... 89*4 89 4 J ’he’09 __
......... 79 4
79 A p r ’uh
794 D ecT b
........
90 4 D ec’Ub
9()
LOO4 1 0 2
1 v»9
99
f 99 101%
9 9 4 100
8 9 4 92
79
79
io o Nov’ OO .. ..
1 0 1 4 ........ 109*4 May’ll9
1 0 0 4100%
119 ......... 12 L Feb *05
12 1
12 1
9 7 ........ 9b Mar’09
98
93
12 0
salo 1 2 0
12 0
1 0 i 18%120
117
....... llb % J 'n e’09
1 18% 119
90
02
90 F c b ’u9
90
90
100 Mar’O98 J ’l y ’ Ufc
_
98 ........ 9 8 4 J’ne’09
96
984
110 %
7b bale. 1 1 0 4
b 109 112
........ 1 0 0
1024 J ’nehJn . T as
48
50
......... 47 4 4b j 'n e ’LO
.........108*4 t09 J’ue’ 09
iUoTb 1 1 l
78 B.
......... 784 78
78*2 sa
“
110
744
75
74
75
2r
115
1 1 4 4 ........ 115
107 ........ 107 J ’ ne’09
........ 1134 113*4 A p r ’Ub
71*4 75 4
4 1 12% 115
:u7 1 0 UB1
IL24 1144
107*4........ 1084 J ’ne’09
L06 4 1084
107 103 108 Uct ’Ob
1
u7
ya
......... 97 4 9 7 4
974
.
.
.
.
117 May’UP
1154118
116 4 118%
1094 Uct ’99
109 ........ 107 4 J ’l y ’ Or
96 4 J’ he’ 09
96
97
........ 113% J a n ’06
1 0 1 4 ......... 1054 Jan ’ Ui,
10 2 4
1 1 1 * 4 ......... 1 1 1 * 4
9 7 * 4 .........
97 4 93
........ 1014
......... 97
95 4 98
105*4........
........ 984
103 ...*...
101 1014
105 4 ........
10 0
........
1 0 7 4 .........
......... 97
J’no’ 09
97 Q J ’ne’09
100 4 A p r '0.- __
9 9 4 Uct ’00
87 J ’ne’Ov
104 4 D ec’Ob
97 4 J ’no’ 09
l 0 l ° 8 D e c’ 0 b
HU^xSov’OU
105 A p r’O')
109 Nov'06
97 J’no’OSl —
...... *.......
ao
111
%
96
974
10 0 4 10 0 4
95
97
97 4
99%
__
97
99
R O N I > S — C o n t i n u e d o n N e x t 1 'u
6 n s and E le ctric Light
N Y G E L H & P g 5 s ...1948
Purchase money g 4 s ...1949
Ed El 111 1st conv g o s .. 1910
1st consol gold o s.........1995
N Y * g E l L * P ls tc o n g 5 sl93 9
N Y * Rich Gas 1st g 65.1921
....
Pat * Pas G & E con g 5s. 1949
80
Pco Gas * C 1st con g 6s. 1943
84
136
Refunding gold 5s.......... 1947
160
U
C liG -L * C k e l8 t g u g 5 s 1937
ln d Nat G a s * O il3 0-y r5 a ’36
Con G Co of Ch ls t g u g 5 s.’ 36
.... 100 100
Mu Fuol Gas 1st gu g os.1947
110 118
Syracuse Lighting 1st g 5 s .’51
Trenton G * El 1st g 5 s ..1949
Union Elec L & P ls t g 5 s . 1932
ion 3* 11)0
100 1014 Utica E l L & P 1st a f g 5 s .1950
10 9 1 4 9 2 4_ti W estchester Light*»c 6s. 195u
L08 108
74
1 60
LUO4 102 4
....
.........
b
Jhnce
F r id a y
J u l y it
J-J
F-A
FA
128*4 ISO**
M IS C E L L A N E O U S
91
N0W York Bond Kecord--'Continued— Page 2
Due tf"eb tiDue Apr
e
Duo .May /iilu e d iy
J-D
F-A
103
103 H 30 1004103 4
844
841
1 83 4 86
IO0 4 J ’ ne’09
10 0 4 10 0 %
111
111
1 l l o 111
J-J
93 4 May’Oi
F-A
97
98 4
100 D e c’O*
M-N
L04*4 N ov’O.^
M-S
1204 J’ ne’Oi,
A-O i ’2 0 i *2 i
119 12i
M-S 103 4 1044 1034 103 s
102% 103%
J-J 103*4 104 4 104 J 'ly 01
103 104 4
94 J’ ne’Oi
M-N ......... .94
86% 94%
J -D 102 4 10 3
101% 103
102 May’ Oi
M-N 1 0 1 4 ........ 1 0 1 % j ’ 11 c o ;
101% 1014
J-D
99 4 ........ 99 4 J’ ne’Oi . . . . . 99 4 9 9 4
.VI-h
110 May’Oi
.1 ...................
M S 100 1 0 2 4
............ : : : :
J-J 102 .........
...
J-D ) 0 3 4 ........ 102 4 Mar’Olj - 102 w* 102 4
/cDue •iug 0 Dae u ct q duo Dec ju p cio u :>«!«*
M-S
103 103 4
84*4 85
1003ft 10 0 *4
111 112
......... 98 ^
.........100
92SB
[VOL. LXXX1X.
Mew l o r k B o n d R e c o r d •-Continued-—Page 3
H O M J*
N. Y. STOCK E X C H A N G E
W bkk endinu J uly 9
•* 0
$$
j-n
M-N
J-J
J-J
Sink land gold 6s............191' A-(
Coll trust gold 5s............1931 M-N
E H <fc Nash 1st e 6s___1919 J-D
L Cm & Lex gold 4 *2 8 . ..1931 M-N
J-J
J-J
M-S
St Li D iv 1st gold Os...... 1921 M-S
2d gold 3s..................... 1980 M-S
A tl Knox <& Cm div 4 s.. 1965 M-N
Atl Knox As Nor lot u 5sl94i .1 O
Heuder Bdge l s t s t g 6 s . 1931 M-S
Kentucky Cent gold 4 s.. 1987 j - j
L&N & M & M 1st g 4 *28 L945 M-S
Life-N-South >1 joint 4 8 . 1 9 5 2 J -J
N Ela & a 1st gu g o s ...1937 E-A
N<feO Bdge gen gu g 4 *2 « 1946 J-J
Pens * A tl 1st gu g Os..1 9 2 1 E-A
8 & N A la con gu g 6s.. 1930 E-A
L<fc Jett Bdge Co gu g 4 s.. 1945
L N’ A & CU &ee C 'l & L
Coal S ee L 8 & 1 I S
M ahon
anhattan By consol 4s. 1990 A-O
Registered.................199i
Stmpd tax exem pt.. 199U A O
M cK’ p t * B V S ee .\ 7 Cent
Mex Cent cons g 4s trust rects
1st cons ino g 3s trust rects . . . .
2d cons me g 3s trust roots..
Mex Internat 1st con g 4s. 19 1 1 \Ti
Stamped guaranteed___1977
Mex North 1st gout Os___191*' J D
Mich Cent S ee N 1’ Cent
M Id ot N J S ee Ene
MU Li a & W s e e Cldo <& N VV
MU & North S ee Ch i l & St P
Minn <fc St Li 1st gold 7 b. . 192'. j -I i
Pacilic Ex 1st gold Os...1921 A-O
aoutli West Ex l s t g 7s. 1910
1st consol gold 6s............ 1934 M-N
1st and refund gold 4 s ..1049 M-S
Des M & Ft L> 1st gu 4 s... ’35 J-J
Minn
St Li gu S ee B C H A N
M S t P & a S M c o n g 4 m t g u ’ 3w J-J
M S 8 M <fc A 1st g 4 int gu 192U
Minn Un S e e at P M «&M
Mo Kail & T ex 1st g 4 s ...1990 J -I)
2d gold 4s........................ pi990 E-A
1st ext gold 6s..................1944 M-N
1st & relund 4s................2094 M-S
Gen s 1 4>as...................1930 .J - J
8t Li Div 1st ret g 4s___2001 A-O
Dai <& Wa 1st gu g 6s. ..1940 M-N
Kan C <& Pao 1st g 4 s ...1990 E-A
Mo K & E 1st gu g 6 s ...1942 A-O
M K & Ok 1st gu 6s....... 1942 M-N
M 1< & T ol T ls t .gug6s.1942 M-S
aher ah <fc b o 1st gu g 5 s .1943 J -D
Tex<fc O k la l8 tg u g 5 s ...l0 4 3 M-S
Mo Pacilic 1st cou g 0s ...1 92 0 M-N
Trust gold 6s stam ped.al917 Al-S
R egistered ................. «1917
1st coU gold os ................. 1920 F-A
40-year gold loan 4s....... 194 ‘ M-S
3d 7s extd at 4%.............. 1938 M-N
Cent Br Ky 1st gu g 48.1919 Is-A
Ceu Branch U P lstg4s.L94B J -li
L e r o y & C V A L 1st g 5s 1920 J-J
Pao K ot Mo 1st ex g 4s. 1938 E-A
2d extended gold 5 s ...1938 J *J
St L Ir M& Sgen con g 5sl931 A-O
Gen con stamp gtd g 5s 1931 A-O
UniUed & ret gold 4 s ..1929 J - J
KlV & G DlV 1st g 4 s.. 1933 M-N
Verdi V 1 & W 1st g 5s. 1920 M-S
Mob J & K C is t cons g 5 s.l9 5 J J-J
Mob & Ohio new gold 0 s..1927 J -D
1st extension gold 0 s../il9 27
General gold 4s............. 193o M S
Moutgom D iv 1st g 6 s ..1947 F-A
St L & Cairo coll g 4s..el93 0
Guaranteed g 4s........ .1931 J-J
M
o coll 4s S ee Southern
Mohawk & Mai S e e Si V C& 11
Monongahela Kiv S ee B As G
Mont Cent S e e a t P M * M
Morgan’ s lia & T S e e a P Co
Morris As Essex S ee Del LAs W
Chat As at L 1st 78.1913 J J
N ash
1st consol gold 5s.........192 b A-O
Jasper Branch l s t g 0 s..1923 J-J
MCM M W As At 1st 0 s..1917 J-J
TAs P Brauch 1st Os___191 i J-J
Nash Elor &> ahel S ee L As N
Natot .Vlex prior lien 4 *as. 1920 J-J
1st consoi 4s.....................1951 A O
Nat Hys o£ M e x p r 14S.S 195 i I -J
Gnar gen 4s......................1977 A O
New 1 1 As G .->«« A V N 1 1 As tl
N J June UR s e e N V Cent
N V Bkln As Man Bell S ee L 1
N V Cent As H K iv g 3*28.1997 J-J
Registered.................... 199 ■ J •J
Deben g 4s.......................1934 M-N
Lako aiiore coll g 3 ‘a s ...1998 F-A
liegisiereu.....................1998 F-A
Mich Cent coU g 3 “as___199b F-A
Registered.....................199b F-A
Beech Creek 1st gu g 4 s.1930 J-J
Registered.....................1930 J-J
2d gu gold 0s................193i J - J
Beech Cr Ex 1 1st. 6 ms 01051 A-O
Cart A; Ad 1st gu g 4 »...1 9 b l J -O
Gouv As Oa we 1st tru g 5s 1942 J-D
P r ic e
F rid a y
J u ly 9
B iu
-§ 3
fa
W eek fs
R a n ge or
L a st S a le
asA
h o ts
H ig t
l l O 1# J ’no’Olj
117 May’Oi
100*2 1*10*4
LOO May’Oi
105 J n e ’OS
110*2 J’ ne’Oi
111 Jan ’ 01
107*4 J ’ no id
1 2 5 * 8 J ’ly ’*d
120 J a n ’Oi
10 7 * 4 Aug’oe
117 May’07
71 May’09
90 J ’ ne’Oi
110 J ’ ly'Ot
110 J a n ’Oi
97*2
97 *2
103 D e c ’08
89
89
1 L2*s J’ne’OS
116*4 117
110 117
1 0 0 * 2 bait
99*2........
110*2........
111*4........
107 ........
125*4........
119 ........
114*4........
........ 75
........ 90
........ 110
97 S Sale
105*6........
89 ........
........ 113*t
No
...
R ange
S in c e
J a n u a ry
how
1
H ig A
116 *2 117*2
li.0 117
41 99*4 102%
100 100 *•
f
..
--,
_
1
1
108 ------- i09>; ’viaV"09
........ 114*2 115 *2 F eb ’05
95 *2 May’Oi
1"8*4 110*2
111 111
107*4 107%
124*4 12538
120 120
71
95
71
06%
110
90
ii<) "
9b34
91 *4
112*4 11o *4
88
1 0 9 ** ioa*4
l 12 *2 11 5 -v
94
95 s
99*6 3alc
99
99*6 27 92*2 100
104 A p r’06
LOO
100
O 99*6 ibb*4
83 May’09
82
80
28*4 May’Oi
......... 27
2l*a 28%
25*2 A p r ’09
2034 25 %
................... 9 o £*aJ,*y ’oi
80
Eeb’08
100<% May’09 . . .. io6«8 ioi**
.............
100
Sale
131 ......... 132% J ’ne’09
108*2........ 118 J a n ’07
I01*i May’ 09
.........109*1. 105*8 109%
85 *8 -salt
b5*8
85*»
97 A p r ’00
90
95
100
99
99*4 100
101 .........
87*2 8 7 7e
........ 107*1......... 80*4
90*s 91
........ 88
.........108*2
...... ......
113*4 114
110 Sale
.........107 *2
. . . . . , 1 f ..
108 108*-i
........ 113*2
101*4 101*2
132*2 133*2
l o n i ib*3%
109 U l*2
6 84% 87%
J ’l y ’09
Mar’09
99
99
100
99
122*8.........
117*4.........
89 ........
112*4 1 12 7#
......... 85
........ 90
101 *4 1 0 1 % 5b 98*8101*4
87
87%
b 86*4 88*4
lt*7U;May’0y
104*4 109 *2
8 0 *4
80*4
8 *330 877b
91
91
26 no1* yjiv
88 A p r ’09 ___ 88
89 *2
109*2 Mar’09 __ 109 *2 110
93 A p r ’uy
93
93
113*4 n3*4
4 113 1 1 4 * 2
109
no
2 103 112
107 *2 J’ne’09 __ 106 110
110*4 A p r’dt* . . . . 110% 110*4
108
1**8
i t 108 111%
113
113
4 113 l l o
3 100*2 102*8
10 1* 8
1 0 1 *4
104‘e Eeb’07
102 *2 102 *., 4 101 103*4
82
82 ‘4 4 3 78*, 85%
90 *2 J ’ne’09
96% 96 “v
93
J ’ne’09
8*J
ii5
89 M ar'09
89
91
110 Mar’Ou
I00*e 100% 1 . " 9*9*4 1 0 0 %
113 May’o,
112*2 113*2
111
J ’no‘09
111
112
110*4 May’o9
110*4 1 1 1 %
89
89
"3 8 6
00*4
89 %
89%
5 8 8 *8 91
107*2 A p r’Ob
...............
98 D ec ’ 0 0
122*2 J ’ne’09
1 19*2 125
117% J ’no’09
117 118
83*4 J'uo’o9
8 6 *2 91
1 1 2 34 J ’no’09
112 ^ 1124j
76 May’Ob
............
101 N ov’04
11078 111
113 Sale
120 121*8
...................
...................
110*8 J ’ne’09
113
113
116% May’ Oi
117*4 M ar’05
U 3 J ’i y ’u-i
101 102 >*
b3*s S4
95 *8 Sale
87*2 8b
102*2 J ’ne’09
102
84 J ’%V’09
80
9434
95% 50 i 92%
87*6 J’i y ’ 05 . . . . 86
bale
82 Sale
95 > 2 ........
93
93*4
.. . . . . ......
........ 108
100*8.........
112*2........
110 *4 111*4
........ 111*4
88*4 89
89*2 89*8
........ . . . . . .
10 2 * 2
92 *2 Sale
96 78 isait
83 Salt
82*2........
83
83
82*2.........
100*8------100 .........
107 .........
84 .........
3
110% 112*4
113 113%
-.................
103
85
96
89
4b 92*2 94%
93 J ’no’09
92*4 93*4
95*4
96
25 93% 96*2
83
83% 20 83*s 85-J,
82*n J’no’09
82
84 *v
83*4
83% 10 83
84*|
82*2 J ’ne’OU
82
82 %
100*4 J ’no’09
1 0 0 *4 1 0 0 * 4
102 M ai’04
97 *i A p r’ 09 . . . .
97% 97*2
RON 11.-5
N. Y. STOCK E X C H A N G E
W kkk E nding J u ly 9
N V Cent A> H R— ( C o n tin u e d
Moh As Mai 1st gu g 4 s..1991 M-S
N J June R gu 1st 4 s ...1980 F - a.
N Y As Harlem g 3 *2 S. . . 2 0 0 0 M-N
N Y Ai North 1st g 5 s ...192 A-O
N V As Pu 1st con gu g 4 s 1993 A-O
Nor A; Mont 1st gn g 58.1916 A-O
Pine Crock reg guar 0s. 1932 J-D
R WAsOcon lstext5 s.A 1 9 2 2 A-O
Oswe Ai R 2d gu g 5 s...e l9 1 5 E-A
R W A sO T R 1st g u g 53.1918 M-N
Rutland 1st con g 4*23..1941 J -J
OgAiLCliam I s tg u 4 s g l9 4 8 J-J
Rut-Canad I s t g u g 4 s .l9 4 9 J-J
St Law «fc Adir 1st g 5s. 1996 J-J
2d gold 0s...................... 1990 A-O
U tica & Blk K tv g u g 4 s .l9 2 2 J-J
Lake Shore gold 3*as___1997 J-D
Registered................. 1997 J-D
Debenture g 4s............1928 M-S
25-year g 4 3 ................. 1931 M-N
KaAcfeG R 1st g u c Ss.1938 J-J
Mahon C’l HR 1st 5 s ..1934 J-J
Pitts As L Erie 2d g 6s.al928 A-O
Pitts M cK A; Y 1st gu 08.1932 J-J
2d guar Os...................... 1934 J-J
M cKees As B V ls t g Os 1918 J-J
Mich Cent 1st consol 0 s.1909 M-S
5s..................................... 1931 M-S
Registered................. 1931
4s..................................... 1940 3:?
Registered................. 1 9 4 0 j - j
20-yr deb 4s J P M reo.1929 A O
J I j As S 1st g 3 * 2 8 ........... 1951 M-S
1 st g 3 * 2 8 ..........................1952 M-N
Bat C As stu r 1st g u g 3 s.l989 J-D
N Y Chic As St L l s t g 4s 1937 A-O
Registered.....................1937 A-O
Debentures 4s.............. 1931 M-N
W est Shore 1st 4s g u ...2301 J-J
Registered.....................2301 J-J
N Y Ai Greenw Lake S ee Erie
N Y As lia r S e e N Y C A> Hud
N Y Lack Ai VV S e e D L & W
N Y L E As VV S ee Erie
N Y Ai Long Br S ee Cent of N J
N Y N H As 11—Conv 0 s.. 1948 J-J
Conv deben 3*a8.............1966 J-J
liousatonic R con g 5s . . 1 9 3 7 M-N
N 11 As Derby con cy 53.1918 M-N
N Y As North S ee N Y C As H
N Y O Ai W ref 1st g 4s..gl9 9 2 M-S
Regis $5,000 only.........ol992 M-S
N Y <& Put S e e N Y C & H
N Y' As R 11 S e e Long Island
N Y S As VV s e e Erie
N Y Tex As M S ee So Pac Co
Nor As South 1st g 5 s ........ 1 9 4 1 M-N
Norl As W est gen g 0s.......1931 M-N
Im provem ’ t & ext gO s.. 1934 F-A
New R iver l s t g 0 s ____1932 A-O
N Ai W Ky 1st con g 43.1990 A-O
Registered.....................1990 A-O
D iv’ l 1st 1Ai gen g4s..,1944 J-J
ll*-25 year conv 4s___1932 J-D
l ’ oeali C Ai O lomt 4s.. 1941 J-D
C C Ai T le t gu g 5s.........1922 J-J
Scio V Ai N E 1st gu g 4s 1989 M-N
North Illinois S ee C’lii <fe N W
North Ohio S e e L Erie <fc VV
J
Nor Pac—Prior hen g 4 s..1997
Registered..................... 1 9 9 7 m-j
General lieu gold 3s___a2047 y-E
R egistered ................. a2047 y-E
St Paul-Dul Di v g 4s___1990 J -D
Dul Short L Is tg u 5 s ..1910 M S
C B As G coll tr 4s S ee Gt Nor
bt P As N P gen g 0 s....1923 F-A
Registered certllie’s .. 1923 O-F
St Paul As Dul 1st 5s___1931 E-A
2d 6 s ...............................1917 A-O
1st consol gold 4s.......1908 J-D
Wash Cent 1st g 4 s .........1948
Nor Pac Ter Co 1st g 0 s ..1933 W
Nor Ry Cal S ee So Pac
Nor Wis S ee C St P m Ai O
Nor As Mont S ee N Y Cent
1 v lud As VV S ee C C C Ai St L
1 /h lo R iv R R See Halt A> U
Ore Ai Cal S ee bo Pao Co
o re short Line s e e Un Pao
Oswego As Rome S e e N
C
O C E As at P S ee C Ai N W
J-D
j
a
c
Coast
Co
1st
g
5s..,.194t,
i ao ot Missouri S ee Mo Pao
Penn R R 1st leal est g 4s. 1923 M-N
Consol gold 5s..................i 9 i<i M-S
Consol gold 4s..................1943 M-N
Consol gold 4 s ................1948 M N
C onvertibleg 3 *2 8 ........... 1912 M-N
Convertible g 3 *23...........1915 J-D
Altog Vai gen gu g 4 s ... 1942 -*1-S
D R R R As Bge 1st gu 4s g .’30 E-A
Pliila Bal A; W 1st g 4 s.. 1943 M-N
Sou Bay Ai So 1st g 5 s ... 1924 J-J
U N J R R As Can geu 43.1944 *vt- a
Penn Co—Guar 1st g 4 *23.1921 J - j
Registered.....................1 9 9 1 j - j
Guar 3 * 2 8 coU trust reg. 1937 M-S
Guar3*uscoU tr ser B ...1941 F-A
T r Co certif’s gu g 3*28.1910 M-N
Gu 3 * 2 8 tr ctfs C .............. 1 9 4 2 J-D
G-. 3 *28 tr ctfs D.............. 1944 J -D
Guar 15-25 year g 4 s .... 1931 A-O
Cl Ai Mar 1st gu g 4*2 8 .. 1935 M-N
Cl As P gen g u g 4^28 ser A .’42 J-J
Series B ..........................1942 A-O
Scries C 3*23................. 194a M-N
s e n e s D 3 *28 ................. 1950 E-A
Price
f'rirtati
J u ly 9
ASA
100 ..
94»# ..
91 ..
110 117%
RlU
I
Wee/c'g
Range or
hast Sale
how
R ange
s in c e
Jan uary 1
M ia "
100 May’ 09
105 Oct ’02
96*4 Oct ’Os
107*2 Aug’08
100 S e p ’08
127 130*v 131**2 Van ’00
110*, 110*i 110*2 J ’ne’05
1023s- -- 105 Jan Ob
106*4 111
103 Sep 'O'
9 3 'a
93*2
93 *9 94
92 J ’ne’ot
1 15 E eo’09
110*4
125 F e b ’08
1 0 1 % .... 103*4 D ec’08
93*4 J’ no’09
93*2 94
92
92 *2 93 *4 May’09
95
96
95 Salt
94*4
95*4
9434 Sale
• 1 1 8 4 .......
113*2 118*2 109** Oct ’07
00 May 0 8
102 ..
130*2 Jan ’ UU
126*2 ..
120*2..
110*4 ..
101 E eb ’09
110 ..
113% 115*2 11484 Oct 0 8 ,
112 .. 119 J'ne’OO
10U*4 A p r’U9
100*2 ..
106 *2 N cv’Ou
93a4 J ’no’09
......... 94
92 May 09
I " " I *91 *2 92 May’09
how
H igh .
100
100
131*2 131 *a
I 1 0 * a lil
91
93*2
903, 9-j
115 l i d
93*4
92 *2
94a4
04
95*9
94 >2
97
97*a
130*2 130*2
101
101
100*s lOO**
93*4 " o 'iy
91
y " 9 2 *^
101
10 0 * 2 J’ne’09
92*2
92*2
102
1C2S
lUl
101 *v
^
100*2 100*2
91**8 94
101 104*2
100 ®s 103 *2
138*4 Sale 133*8 138*,
108*4 108% 108% 108%
117 .......: li b *2 D eo’Oc
133*4 1 3 8 7*
97*2 109*4
101.... Sain
.........100*4
92 *2 Sale
1 0 2 *2 bale
LOO* 2 .......
98*2.........
103
126
126
128
100
........
127
........
129
97
93% Sale
Ob >2 bale
92*2
100
90 *08*
1 0 0 *2 1 0 2
101
98%
98*2
101*a J’ne’Ot
93
99*4
104 J ’no’09
127 J ’no’uO
129 Mar’uO
12b *2 J’ne'Oy
104
127
129
127
98
101
128
129
128*a
100
99
10 0
91 S e p ’o :
933a
93*8
98*2
90
92 *2
92 'v
109*2 E eo’06
96*2
97
93
95
93*6 99*4
89 °8
90*a 98*2
bale
102*4
101
73
72*4
90
102®# 1027#
I01*u 102
7.ia4
74*2
733a J’ne’O.
I ” I " *0*8* 9 7 * 2 J’ue’09
1 0 2 78
*74** Safe*
119 120*s
119 120
112*4........
104*2........
........ 99
94*2 90
115*2........
120s# May’09
116 May’09
117*4 J ’ly V?
I04a4 May’09
97 *2 May’09
92 *2 Jan ’ 0 9
115*8 J ’l y ’Oa
Ill
1H
112
101*2........
109*2........
100 ........
104*4 104 <4
101*8 Bait
9 1 %Sillfc
100 »8 ........
90 ........
103*4........
97 ........
105 106
.........106
ll)8 *2.........
907s .........
97 *4 Sale
89*2........
90
0 0 7t
98*2 99
I0 0 a4 105 *5
10934 ........
10934 ........
94*2........
04 * 2 ........
120
104
103
76
74*4
977»
121
116
120**
101
101*4
97*2 99
U2*o 92*2
115*8 110*2
J ’ne’09
109*2112
104 *4 May’ll!
100*2 J a n ’ id .
102 *2 May'Oi ..
104*4
100*8 101 *» - U0 *y
Of *» 349
9 0 J ’ue’07
103 105
109*2 109*
102*2 104*
104*6 105*
97*2 101»
91*4 1U0
i.0-1
103*2 104
too
J ’n o ’ 09
J a n ’03
104
104 M ar’ 09
105*4 J ’i y ’ 99
IU
M ay’09
90*2 J ’ **o ° 0
io i"'
*04 100*2
104*2 104*2,
4*2
9034 J ’UC’Oj
90*4 "o T y
97*4
9 1 *-i .10 90*4 97*2
e 0 !4 Eeb’ 09 .. .
99*4 89 Wi
9034 May’U9 ...
90*2 9 0 \
0 9 -0May 09 ...
98 “2 9 9S ;
110 -inn'0 5 . . .
110*4 Jan ’ 0 9 ... i "10 *4 iV 6 *I
L09a-i 109-7 ... 109*4 109*4
98*2 D ec’05 . . .
9 0 May’ 08
M lb O G iiL IM iO U B RO.N Lis—Continued on Next P a ge
I'etegrapU and T elephone
94%
2 91*8 96
94%
95
Am Telep As Tel coll tr 4s 1929 J-J
Convertible 4s..................1 9 3 0 M-S 104*4 Sale 104*4 105 *4 318 92 *« 106
98*4 100
99
18*4 J’ne’Oi'
M ich. State Telep. 1st 5 s .1924 F-A
98
97*8 62 90*2 98*«
97
Pac T el Ai Tel ist 5 s ........ 1937 J -J
97*6 Sale
: : : : : : " 7*8 %
West Union col tr cur 58.1938 J-J 10 0 * 2 Sale 10 0 * 2 10 0 * 2 1 0!< 98*2 102
95*2
95*2
9 3 3-j 00®«
Ed and real est g 4*23...195u M-N
95*2 Sale
87% 17 84
92*2
86%
Conv 4s. Series A .......... 1 9 3 0 M-N
80 *2 Sule
10 0
Mar’09 .... 95 100
li)*l)3fl ****
Mut Un Tel 8 Rind Os...1911 M-N 1 0 0
HfumtnctnriH*f A- liidusti-iul
88*4
8 6 *2 17 80
80*8
Allis-Chalniers 1st 5s....... 1 9 3 0 J -J
* 88**2 **8*9*’
86*4 Sale
72 ........
Am A g ch em 1st c o s .......1928 A-O 1 0 1 * 2 sale 1 0 1 * 8 1 0 1 *2 23 96 101*2
12
97
96
98
97
Am Cot OU ext 4 * 2 8 ...........1915 y-li
97 Sale
103*4 103*2
10 1
7 96*4 101 *4
10 0 * 2
108 % Sale
Am Hide As L 1st s f g O s..1919 M-S 1 0 0 l o l
67
80
........ 108
77
Anier Ice Secur deb g Os.. 1925 A-O
79*4 80 J ’ no’09
105 ........
95*4 May’09 .... 95*2 100
Am Spirits M fg 1st g O s ..1916 M-S
95
50 104*2 112*2
Am Tobacco 40-yr g Os— 1944 A-O n i % Salt 1 1 1 * 2 1 1 2
80 7t
97*
98
80 *2 1 2 1 74
4s........................................ 1951 E A
80% 1 bftlO 80*4
1)2
8 90*8 92*4
92
......... 87
Am Thread 1 st col tr 4 s ..1919 J-J
92 Sale
*N o p n e e Friday; latest uid auu asked. aD ueJan oD u eE eb cD uo..»ar ciD u a^ p r n. Duo -j ’ ly «D n e A u g o D u o o c t v Due a o v q D u o o co i Option bale
C om
unu
n on
Col E Ai 1 Co gen a 1 g Os..1943
Convertible deb g 5s___1911
Gr R iv Coal As O 1st g 031919
Clean Bit Coal 1st s i 4 s...1940
Col Xmlu 1st As coll 5s 2U..1934
Contin’ tal C 1st s 1 g u o sg .1 9 5 Jett As Clear C As 1 lstg o s .1 9 2 0
Kan As H C As C 1st 3 1 g 68.1051
Pleas Val Coal 1st g s f 5s. 192b
P ocah Con Collier Ists i 0s.’5i
Sunday Creek. Co g o s ___1941
Tenu Coai gen os..............1951
Tenn D iv Tat g Os...... al917
Birm D iv 1st consol 0S..1917
Cali C M Co 1st gu g 08.1922
De B a r e * 1 Co gu g Os.lOlo
V alron CoalAsColst g 5a.l949
V ictor Enel 1st s r 5s.........1953
F-A
E A
A-O
J-J
E-A
F-A
J-D
J -J
J-J
J-J
J J
J -J
A-O
J-J
J -D
F-A
M-S
J -J
97
85
Sale
87
97
97
1 94 100*4
87 *a F e b ’09
87% 87*6
102*8 A p r’06
95 A p r’02
78*8
79 " i s " i j " " i d "
107*8 D ec’ 04
107 May’07
...................
105*2 D ec’ 06
105 Oct ’00
89 J ’l y ’09
86
"8 9 "
78 E’e o ’07
103% J ’no’09
i o i *2 ibs**.*
108*2 1OS *2 * 1 106*4 10a%
108 Mav’09
106% 1 0 B
110 J a n ’09
no no
103 N ov’Ofc
98
98
95
9b "
*6
93 % F e b ’07
.... ......
__
.... ....
_
....
_
♦i u l y
S e w Y o rk B o n d R e c o r d — Conciuded
101900. |
U O A l)r>
N. Y. STOCK EXC’ H A NUK
W eek evdino J uly 9
55;
Penn Co— ( c o n l i n u e a j
E r i e * P it ts g u g 3 4 e B.1940
Series C......................... 1940
Or K <fa Xex 1st gu if 4 4s 1941
Pitts Ft W & C 1st 7 s ... 191V!
2d7s................................1911!
3d 7s........................... /il912
Pitts Y<fa Ash 1st con 68.1927
P O O& St L g u 4 4s A ... 1040
Series 11 guar................1942
Series C guar................194's e n cs 11 4s guar...........1946
Series E 3 4 guar g ___ 1946
Series F 4 s g u a r ........ 1963
C St L <fc P 1st con g 5s. 1932
Pensacola & A ll S ee Life .Nash
Peo <6 East n e e C C C <fc St L
Peo <ft Pek Un 1st g 0 s ....1921
2u gold 4 4 s . . . . . ........... 61921
PoreM arq—Cli >fc VV Al 5s 1921 J -D
Flint <fc P M g 0s.............. 1920 A-O
1st consol gold 6s.........1939 VI-X
Pt Huron Div l s t g 6s. 1930 A-0
SagTus<fa H ls t g u g 4s. 1931 F-A
Phil 1 !A W .See Penn B R
Pliila <fc Heading cons 7 s .1911 J D
Philippine Hy 1st 30-yr s 14s’37 j .j
Pitts Cm <fc at L bee Penn Co
Pitts Clove <fc Tol A'«cB<ftO
Pitts Ft VV <fc Ch S ee Penn Co
Pitts M cKees <fc Y S ee N V Cen
Pitts 8h <ft L E 1st g o s ...1940 A-O
lstco u so l gold 5s.............1943 J-J
Pitts & West n ee U <fa o
Co gen g 4s....... 199< J-J
R eading
Kegistered.....................1997 J .J
Jersey Cent coll g 4 s ... 1961 A 0
Itoussciaer & Mar n ee 9<fc U
Kioh <fc Dan n e e South Hy
Hich A Aleck n e e Southern
Bio Ur W est n ee Hen A HloUr
Hocli A Pitts n e e li l i * R
Home Wat <fc Og n e e N’ V Cent
Hutlanu n e e N Y Cent
C ag Tus A 11 n e e Pere Alarii
O tJ o< fcG r Isl 1st g 4 s ...1947
bt L A Cairo n e e Mob A Chiu
St JL. A Iron Mount n e e M P
St L K C A N n e e Wabash
St L M Hr n e e T HU A ol St L
St Louis A S F — le a it Os.1931
General gold 5s................ 1 9 3 1 J-J
Cen 16-20 yr 5 s ..............192. M-N
St L A S F HU Cons g 48 ..’90 j J
South vv Div 1st g 5 s ..1947 A-O
Refunding g 4s.............1951 J .J
St L M A So East gu 4 4gl9U9 J-D
K C F t S A M eon g Os.. 192b M-N
K O Ft S A M Hy ref g 4s 1930 A-O
K O A M H A U 1st gu 5s. 1929 A-O
Oa’ rk A Oil C ls tg it5 s g.1913 A-O
d tla u n sS o S ec Illinois Cent
9t L S W 1st g 4s bd otts.1989 M-N
2d g 4s inc bond o tfs...p l9 8 9 J -J
Consol gold 4s................. 1932 J-D
Uray’s P t T e r ls t g u g S s 1947 J -D
St Paul A Hul n e e Nor Pacilic
St Paul M A Man 2d 0 s ... 1909 A-O
1st consol gold Os.............1933 J-J
Kegistered..................... 1933 J-J
Reduced to gold 4 4 s .. 1933 J-J
Registered..................1933 J-J
Dakota ext gold Os......... 191o M-N
Mont ext 1st gold 4a___ 1937 J-D
Registered..................... 1 9 3 7 J-D
EM mu Nor lJiv l s t g 4sl94a A-U
Minn Union l s t g Os___1922 J-J
Mont C 1st gu g Os..........1937 J-J
Registered..................... 1 9 3 7 J-J
1st guar gold 6s........... 1937 J-J
WILL A S F 1st gold 6 s ..193.- J-D
dt P A N or Pao n ee N or Pac
S tP A S’ x City n e e C St P M A o
d A A A Pass l s t g u g 4 s ...1943
8 Fo Pres A Ph l s t g 6 s . ..1942
8 F A N P 1st sink 1 g 6s. 1919
Sav F A W est n e e A tl Coast 1.
Scioto Val A N E n e e Nor A VV
Seaboard A ir Line g 4s ...i9 6 0 A O
Coll tr relund g 6 s ......... 1911 M-N
Atl-Hirm 30-yrlst g 4s.el933 M-a
Car Cent 1st con g 4 s ...1949 j - j
Fla Con A Pen 1st g 6s. 191- j - j
1st laud gr ext g 6s ...1 93 0 j .j
Consol gold Os.............. 1 9 4 3 j - j
Ga A A la Ry 1st con 5s 0 1945 j - j
Ga Car A N o ls t g u g 5s 1929 j j
doab A ltoa 1st os.......... 1 9 2 0 j - j
5Uer Shr A So n e e M K
1'
dll Sp Oca A U n e e A tl Coast L
do Car A Ua n e e Southern
Southern Paciilo Co—
Gold 4s (Cent Pao c o ll)./cl 94 9 J - D
R egistered..................£1949 J -D
Conv 4s (full paid) ..01929 M-S
Cent Pac 1st rei gu g 4» 1949 F-A
Registered.....................1949 F-A
Mort guar gold 3 4 s ..£1929 J-D
Through St L 1st gu 4s ’64 A-O
Gal Har A S A l s t g Os..1910 F-A
Mex A P a c ls t g 5 s ...,1 9 3 1 71-N
Gila V(1 A N ls t g u g 5 s . 1924 M-N
Hous E A VV T 1st g 6s. 1933 M-N
1st guar 5s red.......... 1933 M-N
T c l s t g 6 s in t g u ..1937 J-J
Consol g Os nit g u a r ...1912 A-O
Gen gold 4s iut guar.. 1921 A-O
.
^ VV,liv l s t g Os ’30 M-N
A A N VV 1st gq g 5 s ... 1911 •J
n
P r ic e
fY id a y
J u ly 0
W eekJs
R ange or
L a s t S a le
Hut
L ow
H iu n
io*7" !
107 .
107 .
1104 .
107 4 .
1074 .
108 .
994 .
94 4 90
9941164 1104M ay’O9
109
123 4 J a n ’06
100»4 D ec’ 05
105 4 100
1134 May'09
109 4 J’no’ 09
1084 J’ne’09
105 4 Sale
........ 1134
1074 111
........ 108',
llO** 1184 116
116
9 3 4 J ’l y ’97
1004 8ale
9 8 4 .......
98 Sale
964
1234 Sale
1104 Sale
00 4 dale
96
100
100
98
1004
May’09
98
96
98
1234
123*,
110
110 4
90 4
904
96 A p r’Oy
ib'041004 101 F eb’09
87 4 Sale
80-4
87
99*4 A p r’09
i V » 4 1 2 1 4 119 4 A p r ’09
83 4 Sale
83
83 4
lo o ........
9 7 4 ........ 97 4 J ’ne’09
94
944
........ 85
7 9 4 Sale
94
944
85 J’ ne’uo
79 4
79 *v
1 0 1 4 A p r ’ 0?
1004 J ’ne’09
*131*4 13*2*4 131*4 J ’ne’09
------------........ 1324„ .32 A iir’OO
108 4 1094 109 J ’no'oti
L08*4 J ’ne ’ 09
102 4 Sale 102 4 1 0 2 1
99 100* 100*4 100\
100 4 Oct ’00
101 „
124
1304 132 4 130 4
130 4
114
1144
115
110
May’06
j ’ne’Oc
day’OO
J ’ ne’Oy
J ’ne'uO
8 9 4 8 9 4 SP4
90
109 H it . 111 4 J ’no’09
110 o c t ’05
8 84
99 4
85
90
100
884
Sale
.......
.......
.......
107
ibb*
934 Sale
90
4 .Sale
1 4 Sale
80
104
9 '
96*4 90 4
89 4 s0*4
......... 9 4 4
P ig n
no
10 9 4
109
102
95
105
112 4
104*4
1084
100
116
10'»4
1084
110
110 4
........ 112
88
89
99 4
99 4
88 J a n ’07
86 J ’l y ’08
107 4 Aug’OO
’06
109 4 M a r
1 0 0 4 J ’ n e ’ OU
lu 5 4 A la r’09
J 'n e ’ 0 9
107*4
93 4
9 34
85 Feb uO
104-4 106 4
97 4
974
90
90
894
894
9 4 4 J ’l y ’09
1014 Apr 09
1114 A p r’ i'l
104 Mar’OO
106 4 May'00
103 4 A p r’02
99‘Y.lvn
os y ia ®
96 4 * 9 8
97
1 22 4 1 24 4
111) 111
88
91 *,
91
90S
101 101
8 4 4 89
99*4 99*4
110*8 12U4
82*4 80
974
98
9 2 4 944
79
85
78
8 14
0 0 4 1C4
31 132*8
32 13 c
10S*8 U l
108*4 108*4
1u2 4 1 0 3 4
9 94 101
1304 1324
1144117
10 110*4
89
924
1114113
034
95 4 100
102*4 lUO-j
105 100
100*4 107*4
90
93*8
85
85
974106*8
9 0 7e 987e
90
97 *4
89 4 93*4
93 4 96
1014 1014
UO 112
104 104
103 105 4
1034 103 4
109*4 U 0 4
(H 1SC E 1.1.AN E O U M
9 5 4 252 9 5 4 9 6 4
90
89 4 04 77
98t, 98 9 6 4 99
18 73 4 7 8 4
77
105
25 101 1000
2 85
88
88 4
104
3 100 104
<J74
99
3 93
1 15 4
nr>7«,
1 108 110
1914 101 4
1 98 1 0 1 4
97 J ’ne’ 09
91*4 9 1 4
10 0
10 0
" l 104 4 100 4
90*8
004
1 84*4 91*,
1064 1054 3 6 1024 105*6
:0 5 4 1 0 0 407 H/2 4 190 4
10 5 4
10 0 4
3 101*8 1U04
974
9s 4 40 93*4 190
94
94 4 61 90 4 96 V
a Duo Jan
1Veeic’ s
R ange or
L a st S a le
R ange
in c e
33-C J a S
n u ary 1
BUNDrv—C o n c lu d e d .
95 4
89
98 4
764
105
88
103 4
90
* N o price b ridayj latest bhl and asked this week,
P r ic e
F r id a y
J u l y 'J
..
n o
110 4 110
92
93
35
southern Pac Co— ( C o n t i n u e a j
tU a
a s . Low
LUgt Ac* L ow fiiq f*
Morgan’s La<fa T 1st 7 s .1918 A o .........1214 122 4 Aug’OI .. ....
1st gold Os....................1920 J -J 115 ....... 110 N ov’Ol ...
No ot Cal guar g 5 s .........1938 A-O ...... __
112 Fob’ll'
Ore & Cat 1st guar g 5 s .1927 J -J
104 Mar <h
S o P a co t Ariz is t g u 2 Os.c’ 10 J -J
10 14 10 14
So Pao of Cal—Os E <& F ...1 9 12 A-O
1st gold Os....................1912 A - O
114 4 Dec ’04 ...
1st eon guar g 5s.........1937 M-N i i 'i .......
S P a cof N Mex 1st g Os..1911 J-J
104 Apr*U.v
90 .......
So Pac Coast 1st gu 4s g. 1937 J -J
92 May’Oi __ 88 4 92
T ex& N O S abD ivlst gOs.1912 M-S ........ 105
102 4 J’uo’Ol __ 102 4 1024
.......
lo
u
Con gold 5s.................. 1943 J ■
..
0 Pao RR 1st ref 4s........ 1955 J
95 Sale
93 4
95 s 271 9 3 4 9 64
112 4 Sale 111
Southern—1 st con g 5s___1994 J
112*,
106 113
109
.......
Registered.....................1994 J
110 May’O^
109 110*4
84 8aib
Develop * gen 4s SerA .1950 A-O
82*4
84 iik 76
64
89 4 Sale
M o b * Ohioooll tr g 4 s .. 1938 M-S
89 4
894
85 4 301.
Mem Div 1st g 4 4 -5 s ...l9 9 0 J-J 1 LL . . . . . . 113 A p r’oy
113 113
St Louis div 1 st g 4s___1951 J .J ........ 90
9U4 J ’ne’Oi
87*8 91
1 1 1 4 ........ 108 Sep ’08
Ala Cen R 1st g 6 s ........ 1918 J
92 .......
Atl & Danv 1st g 4s....... 1948 J
91 D e c ’ 08
87 4 ........ 92 J ’ ue’Ot
2d 4 s .............................. 1948 J-J
8 1 4 86
A tl& Yad 1st g guar 43.1949 A-O
Col & Greenv 1st Os....... 1910 J-J 109 4 ........ 109 J ’ne’O
109 1104
.
E T Va <fc Ua Div g o s ..1930 j .j l l o
i l l J ’ue’Oi
109*4 111
1144 J’ne’Ot
Con 1st gold 5s............1950 M-N 1144115
110 4 114 4
E Ten reor lien g 5s.......1938 M-S 100 ......... 107 A p r ’o;
105 107
65
68
64 A p r’O'J
Ga Midland 1st 3s.......... 1940 A-O
115 7g 1174 117 A p r’Ot
Ga Pac Ry 1st g Os.........1922 J
114*4 117
117 118 1184 viuy’ ou
Knox & Ohio 1st g Os... 1925 J
1184 1184
105 ........ 115*8 A p r’oo
d ob tfc ILr prior lieu g 5s 1945 J
J.J
.
.
.
.
.
.
82
N
ov’Oe
-Mortgage gold 4s........ 1945
Rich & Dan con g Os___1915 J-J 1 H »4 ........ L1 0 4 J ’ne’oy
1084 H I
Deb 5s stomped............1927 A-O 104 ........ 92 J’ne’os
Rich & Meek 1st g 4 s ... 1948 M-N
So Car <fc Ga 1st g o s ___1919 M-N 1034 ........ 1034 ,\lay’09
1 0 1 4 1034
112 o e t ’06
Virginia .Mid ser C O s...1910 M-S 1 0 0 4 1 1 2
Series D 4-5s................ 1921 M-S 100 ........ 1084 Dec ’00
Series E os.....................1920 M-S lu< 4 ........ 113 D e c’O^
Ueneral 5s.....................1930 M-N l i . 0 4 1 1 0 4 110 4 J ’ne’09
107 I I 0 4
109 4 Alar’ ou
Guar stamped.......... 1930 M-N
1074 1094
8 0 4 ........
W O <fe W 1st oy gu 4 s.. 1924 F-A
108 4 ........ 109 J ’l y ’09 — 109 1094
West N C 1st cou g Os. .1914 J
S & N 'A la n e e L &> N
117 J ’l y ’ 0 0
dpok bails <fc N or l s t g 6 s. 1939 J
| er A of St L 1st g 4 4 s ..1939 A-O 1 0 7 4 1 08 4 107 4 J ’ne ’ 09
1074109
1 1st con gold 6 s ___1894-1944 F-A 1154 110 1 15 4 J ue’09
115 117
Gen refund s 1 g <rs.........1953 J-J ......... 97 4 97 4 J ’ne’ov
96
97*«
109*4........
A-O
St L M Bgo Ter gu g 5 s .1930
110 4 J’ne’d j . . . . 1104 110*.
l’ex & N o S e e So Pac Co
r e x * Pac 1st gold 5s.......2000 J-D 114 Sale 114
1144, 16 1134 119
70 ........ 65 J’ no'oy
2d gold inc 5s................. 0 2 0 0 0 Alar
6 5 4 75
105 J a n ’09
La Div B L 1st g o s ....... 1931 J -J
1034 10t>
VV Min W <fc N W 1st gu 5s ’30 F-A 100 ____ 100 4 Nuv’04
L'ol <fc O C 1st g o s ..............1935 J
no
1 1 2 4 112 4 J ’ ne'09
111 1124
112 J ’ne’oo
112 112
Western D iv 1st g 5 s ...1935 A-O .........114
103 4 105
General gold 5s............... 1935 J-D 1034 104** 103 4 May Oy
Kan <fc Al 1st gu g 4s___1990 A-O
93 Sale
93
93
i 92*4 95
90
93
92 J’ne’Oy
l ’ol P <fc W 1st go hi 4s___1917 J.J
8 6 4 91
1 89 4 91*(
89 4 Sale
1’olS tL ifc VV p r lie n g 3 4 s .l9 2 o J
89 4
89 4
50-year gold 4s............... 1950 A-O
83 4 Sait
83 4
SJ’V 2 83*8 88 4
Tor Ham & Bull 1st g 4 b./U946 J-D . . . . . . ........ 91*. A p r’ U9
91*4 9 14
A, Del 1st con g 5s 1928 J-D ........ 107
107
i07
1 107 108*4
U lster
1st refund g 4s.......... 1952 A-O
85 4 ........ 81 N ov ’08
Un Pao R R (ft 1 gr g *ls ...1947 J-J 1044 sale lo4
104*4
102 1014
Registered..................... 1947 J-J 102 4 .........
LOU*., 103
1 st db ref 4s.................... 0 2 0 0 8 M-S
99*s sale
99 4
93*4 ‘Jr'* 96*4 100
20-yr conv 4 s ..... ............. 1927 J-J 1 10 *4 Sale llo * . 111*8 7 /3 102 i l l * ,
99 sale
Oro Ry (ft Nav con g 4s. 1940 J-D
99
99
99 4
25 98
Uro Short Lino ls t g Os.. 1922 F-A ........ 119 4 U 9 4 J ne’o9
U 8 4 1204
1st consol g 58............. 1940 J.J 115 sale 1 1 1 6
32 1U*4 118
Guar relund 4 s............1929 J-D
95 Sale
94*4
95 4
91
9 64
94 Jan ’oy
R egistered................. 1929 J-D
94
94
Utah (ft N or gold 6 s .. 1920 J.J 100*4........ 99*8
99*t
1 09*8 100 4
Uni N J R R tft C Co S ee Pa RR
Utah Central S e e Rio Gr Wes
Utah (ft North S ee Un Pacilic
Utica <fe Black R S e e N Y Cent
y anuaiia consol g 4 s ___1955 F-A
98 N ov’08
' era Cruz <fcPlslgu4 4 s l 9 3 4 J.J
98 Sep ’ 06
Ver Val Iml .ft w n e e Mo P
Virginia Mid n e e South Rv
Va ift Southw’t 1st gu 5 s.2003 J-J 10$ ........ 117 4 Jan ’09
11741174
1 st cons 50-year 5s........ 1958 A-O
98
99 4 9 J
994
9 3 4 10 0
1st gold 5s.......1939 M-N 113 ........ 112 7a H 3
3 1114H 44
W abash
F-A
2d gold 6 s ..................1939
104 104 4 1044 1044 16 L02 4 105
Debenture series a ....... 1939 J -J
1 0 0 4 Jan ’09
100 *« 100 4
Series B.......................... 1 9 3 9 j .j lo o iO l 1 0 0 4 101
11 86 101
1st lieu equip s fd g 5 s ..1921 M-S ................... 102 4 May’09
102 4 102 4
1st lien 60 yr g term 4s. 1954 J-J . . . . . . . . . . . . 8 7 Aiay'oy
87
87 4
1st ref and ext g 4s ___ 1950 J -J
77 Sale
76 *4
7 7*6 37J 71*4 80 4
D e t& O h E xt l s t g 6 s ..1941 j .j 1 1 0
1 1 0 * 4 .I 0 4 J’ ne’uy
108 1114
SO ........ 9 1 4 J ’ne’uy
D esM oiu Div l s t g 4S..1939 J-J
86 ®» 9 1 4
Om Div 1st g 3 4 s ........... 1941 A-O
78 J ’l y ’ 0 9
78
80
Pol .ft c li Div 1st g 4 s ... 1941 M-S
9 1 4 -d a y ’03
85
92
90
914
Wab Pitts Term 1st g 4s. 19 6 4 J-D ......... 50
50 J ’nou9
48
554
Trust Co certfs.......................
4ti
4t)
45
40
3o 45*4 65*4
2d gold 4 s..........................1964 J-D .........
0 J ’ne’ Oy
9
8
144
Warren n e e Del Lao .ft West
Wash Cent n e e N or Pac
Wash o .ft W S e e Southern
Wash Terml 1st gu 3 4 s .. 1945 F-A
9 2 4 J’ne’ 09
9 2 4 93*i
West Maryland 1st g 4 s ...1952 A-O
86 4
86
86 4 Sale
-0'< 82 *s 88
Ueu .ft eouv g 4 s ............. 1952 A-O .. . . . .
70 J ’ne’09
Oi
734
W Va Cent .ft P l s t g Os 1911 J-J ........ 102 4 05 Ueu'0 8
W estN Y <ft Pa l s t g o s ..1937 j .j 1114 113
n o liv
1 14 111 4
Gen gold 4s...................... 1943 A-O
67 s Aj>r ut>
87
9 54
liioome 6 s...................... <11943 Nov
34 F eb ’07
................—
West N o Car S ee South Hy
Wheel’K & L E l s t g 5 s ...1920 A-O 1 0 8 4 ........ L05 Feb ’09
107 109
Wheel Div 1st gold 6 s .. 1928 J.J ................... 95 J ’ly ’oa
Exteu .ft im p gold 5 s ...1930 F-A ................... 05 4 D eo‘Os
lilt 1st consol 4 s . . . . ___ 1049 M S
b7 ^
87 *2 13 83*4 90
87 4 Sale
20-year equip s l 6 s ...1 92 2 J-J
99 D e c’os
90
98
Wilkes (ft East S ee Erie
Wil .fa Sioux F S ee St P Al & Al
W Is Cent- 60-yr 1st gen 4s 1949 J.J
9 5 4 Sale
954
9 5 4 25 8 9 4 9 8 4
Sup.ft Dul d iv * term 1st 4s’ 36 M-N ........ 93*6 93
95
93
isl 93
104 4 ........
104 100
104 4 ........
1 1 0 4 ......... 1 1 0
110
109 ......... 1074 Nov’07
95 ......... 90 May’09
90
90
110 118
110 D eo’00
107*4......... 107 4 Jan 09 . . . . 1074 107 4
iHantilncturing *Jk Imlimtrmi
Armour(S1 C0 lstrea lest4 4 s ’39 J-D
95 4 Sale
Beth Steer 1st ext s t 6 s..
89 4 Sale
j-J
Cent Leather 20-year g 5s.l925 A-O
98*4 sale
Distil see Cor conv l3t g 5 s.’ 27 A-O
76 4 Sale
lu t Paper Co 1st cou g Os.191c F-A 1044105
Consol conv s 1 g 6s.......1935 J.J ........ 8 7 4
j
.
j
In t St Pump lo-y r conv. Os ’ 13
1034104
Lackaw Steel 1st g 6s___1923 A-O
97 4 sale
N Y A ir Brake 1st conv Os ’ 28 M-N .........116 4
R ep u b i(ftS lstifccoltros.1931 A-O 101 4 Sale
Union Bag A P I s t s l0 s ..l9 3 o J-J
97
97 4
U S Loath Co s 1deb g 0 s ..l9 1 3 M-N 106 Sale
U SRealtydb I conv deb g 5 s ’24 J -J
90
91
U 9 ltubber lO-yrcoll trOs.’ lV J -D 1054 Sale
U S Steel Corp— l coup .cM903 M-N 1054 Sale
SI 10-00 yr os. ( rog ..<11905 JIN 1054 Sale
Va-Car Chom 1st 16-yr Os 1923 J -D
98 Sale
Westlngliouse E & .vis t 6s ’31 J-J
04 4 Sale
W e ek E nding J u ly 9
115 4 Mar’ OO
93 May’U9
1 04 4 .
964
Low
4
BONDS
N. Y. STOCK E X C H A N G E
R ange
S in c e
J an u ary
92 A p r’ 07
984 Apr ’04
1004 D ec’ 08
1274 Oct ’02
110 May'. 19
1094
107 Oct ’08
110 F e b ’09
no
1074 1074
l 0 7 Ti
108
1084 16 U18
112 4 J’ ne’06
102 F ob ’ 09
10 0 4
94 4 A p r ’O'J
94
924 .
92 4 .
P age
o D u e «e o
M iscella n eou s
Adams E x col tr g 4 s .........194S M-S
B’kl’ u F e rr y O o ls tc o n s g o s ’48 F-A
Bush Terminal 1st 4s.......1952 A-O
Consol 6s.......................... 1956 J -J
ClncJeJA t Yard col g 58.1916 J.J
Det Al <6 Al ld gr incom es.. 1911 A-O
institution for Irrlg Wks
•ft Uevel of A g n c u l s f
4 4s (otfs)......................... 1943 M-N
Int Morcan Marine 4 4 s ..1922 A-O
nit Navigation 1st s f 5s. 1929 F-A
N ew nN eShip<ft D D 5 s d l9 9 0 J-J
N Y Dock 50-yr 1st g 4 s..1951 F-A
Providence Sec deb 4s___1957 M-N
Provident Loan Soo 443.1921 M-S
St JosephStk Y d s l s t 4 4 s .1930 J-J
** Yuba Wat Co con g Os..1923 J -J
U S B e d * Kef l s t s f g Os. 1931 J-J
a Due A p r
<D uoAlay
j O a e j ’n t
92*4
924
41 Oct ’06
90*»
90*8 90
95 4
95 4
944
100 J a n ’ 08
" I II I "35" 47 A p r’08
924
93
69 4 Sale
8 1 4 Sale
95 ....... .
8 0 4 88
96 .......
....100
9 0 4 Sale
A D u e J ’ly
1 92
94
90
9 14
9»«|
95*|
92
9 4 4 M»y’ 09
69 4
72 i09 70*4
2 844
844
844
96 Ang’ Os
91
94 J ’ne’OU
90 Jan ’09
90
9 6 4 D e c’ 08 .... ........
100 4 s e p ’05
112 J ’l y ’04
33 89
90*4
91
98 1
77
881
]> D ae Nov
10
1
94
90
93
sOntiraiSaJv
OHIOAGO STOCK EXOHA.TOE—Stock Record—Daily, Weekly and Yearly
Sales
S T O C K S — H IG H E S T A N D L O W E S T S A L E PEACES
Saturday
J u ly 3.
W ednesda ,
J u ly 7.
Tu esda y
J u ly 6 .
M onday
J u ly 5.
*180 190
*2 1 o 3
* 10
113
40
*26
*91,
*203)
51
*83
*15%
*47
* 10
112 * 4
113
40*s 40
28
*20
10 1"
*91,
23<2 *2034
51
51
85
85
1612 *151,
48
50
*20
22
*20
69
*67
69
55
*55
56
4873
4912 50
+ 10 2
1 O0 12 1 0 1 1 ,
117r
8212
Apr’09
July’09
July’09
12
113
113 *112
112 * 4 *112
40
30
39*8
40% 40
July’09
Last Salt 27
28
1 0 % l()l8
*912
1()12
10 %
22
2214
22
231? 2 2
50
501"
50
50
52
*83
85
*83
85
85
Last Sale 17l2 Juno’09
10 1?
48
48
48
481" 48
Last Sale 25
May'09
22
*67
70
*07
69
60
*54
55
54
54
55
49*,s 49
49*s 48*4 -iOlf
103
103's *101 105 *101
*180 190
*2 1 o 3
12
F rid a y
J u ly 9.
T hursday
J u ly 8 .
Last Sale 180
Last Sale 2t,
Last Sale 10
11 * 8
ll&s
81
Sll 4
Last Sale 203
2 10
May’09
2 10
1287r *126 130 *120
130
128
*56
57
59l2 59*8 60
60
no
1071, 10712 *107
no
110
Last Sale >8
June’09
Last Sale >4
June’09
157a 1578 15*4 15?8
16
10
15*4 16
52*4 53
52*4 52<8
521, 53
5278 53
Last Sale 55
56
Juno’09
*55
56
*55
1
1
1%
*1
l's
*1
*1
H.S
Last Sale 2%
3
*2
*2
Apr’09
3
24
24
*23
25
23
+22
*22
23
1321,
132% 132% *132 13212 1321, 1321, +132
Last Sale 214
Mch’0 §
141 141 +141
143
140 140
*135 140
12 11?
1 2 0 1 2 1 2 U2 12 0 1 2 1 2 0 1 , 1 2 0 M 1 2 0 b 1 2 1
Last Sale 24io June’09
lHg
82%
*204
123
*59
*105
11*4
8214
*204
128
59
*105
117«
82*s
1134 IDs
82
82l4
Last Sale
130
47
June’09
June'07
June’09
10512 1051?
1051? *105 106 *104 106
Last Sale 123 June’09
1251, +124 1251,
*90l2 9li?
91
91
90
91*4 90
H73i
117*4 117*4 1177s
1
2
0
*1171,
117*1
1141s 114% 114*4 114i2 11412 1141, 1151.1
Last Sale 11-10 Mch'09
93
*92
93
91*4 9214 *92
92
114
1 1 2 1 2 1 1 2 i8 1 1 2 1 , +112
* 112
112
108U 108 IOSI4 1081s 108*8 IO8 I4 1081?
Last Sale 7
Feb’09
130
130
140 *133 140 *135 140
102
10212 10212 10212 1013.1 101*4 102
Last Sale 1’ 2
Apr’09
------ —
Last Sale 3
Apr’09
Last Sale 734
Apr’09
15i2 1514 155,
15*4 15*3 151.) *15
Last Sale 22
20
Juno’Oi)
+17
20
129
129 129
4634 463j 47
*43
45
*43
1051,
* 12 1
0 1*1
11734
1141s
91*4
’
112
108
*135
10 2 1,
15
*17
129
47
45
128*4 130
*46
47
*129
47
Last Sale 44
Last Sale 2 %
Last Sale 2 1
l
S/»ar«|^
Pailroads
Do pref_______ - . 1 0 0
53
549
___
Inter
est
Period
P r ic e
F rid a y
J u ly 9
Did
Amer Strawb’d 1st 6 3 .1911
Arm our & Go 4 H 3 -- -1939
Aurora Elgin & Chlo 5s 1041
Cal & So Ohio R y Co
1st M 5s......... ........... 1027
Cass A v & F G (St U 5s’ 12
Chlo Board o f Trade 4sl927
Chicago City R y 5 s . . . 1927
Chlo Consol Br&MIt 6 3 ____
Ohio Consol Trac 4 ^ s-1 9 3 9
Chlo Auditorium 1st 5sl929
Chic Dock Co 1st 4 s . . 1029
Ohio JC R R 1 st M g 53.1945
Ohio N o Shore EleoCs.1912
Ohio Pne Tool 1st 5s.al921
Chic Ry 5s....................1927
Chi- Rys 4-5s series “ A "
Chic Rys 4-5s series “ B”
Chic Rys 4-5s scries " C ‘
Chic Rys coll 6s— 191.
Chic R y: Fund 6s____ 1913
Chlo R ys Tom Ctfs 1st 5s.
Chlo R I & P R R 4 s ..2002
Collat Trust g 5s—..1913
Chlo Telephone 5s___ 1923
Commonw-Edison 5. .194"
Chlo Edison d eb 8sl91 .
1st g 5 s ____ July 1921
Debenture 5s------ 1921
Commonw Elect 5s£>194:
Illinois Tunnel 5s____ 192!
Kan City R y & Light
Lake St El— 1st 5s .
J - 1
- D ------
.1
F - A
J - J
J - D
P - A
J - J
J - D
F A
A - O
M- S
A -O
J -J
F - A
A - O
J - D
F - A
F- A
F - A
* 10 112
A sk
— -----W2
——
10313 104
------_- - ----___ - - - ---- ----
741* 75
1 0 1 U Sale
pfl
Sale
87
87i2
89i8 0 0 i4
1 0 U , 1013,
___ 101*4
____ 10 2 18
M - N __ - -----M- S
J - D 1103% Sale
M - S 410 2*4 Sale
J - J
A - O 1005s 1 0 1 %
u - s 10 1% 10 1%
M - S 102*4 103%
J - D ..................
M -N ____ ____
A - O . . . . ___
J - J ____ 90
Feb
..................
W eek's
R ange or
Last Sale
10 0
14E
10 0
8
734
17
Do pref___________ 100
[etropol VV S E lev_.
Do pref___________
orthwestcrn Elev---------Do pref___________ 100
D o p r e f . . . ________ 166
(190S)
ISO Mch S 190 Feb
4 Jan 22
2% J ’ly 1
15 Jan 22
0 Jan 21
107 J ’ne 4 115 3 4 Jan b
4534 Jan 2
36 J’no23
30 Jan 29
26 Mayt’ l
9 May 3 13% Jan 2
22 J’ly 2 2914 Jan 2
36 Feb 24 52 J ’ly 7
79 Jan 8 80% May 18
19 Mch 8
16 J ’ne24
47 Jan 14 64 J ’no 3
25 May 6
21 Jan 6
03 Jan o 73 May 7
60 Jan 26 61 May 7
29% Apr 13 5134 J ’ne 19
97 Feb 15 10712 J ’ne 18
Miscellaneous
77g Jan 30
769 American Can____ ___100
71-li Jan 6
Do p r e f .._________ 100
783
American R a d ia to r.. 100 200 Jan 11
Do pref___________ 100 126 Jan 21
20
54% Apr 21
495 Amer Shipbuilding___ 100
Do pref____ ______100 101 Feb 24
10
% J ’ne 10
Booth (A) & Co_____ 100
>4 May22
Do pref__________ 100
10 Vfav24
331 Booth Fisheries com —
48 J’ne 16
Do p ref--------------------295
61*4 Jan 8
1
Apr 27
10 0 Chic Brew’g & Malt’g . . .
2% Apr 27
Do pref....................
20 Mch24
5 Chic Pneumatic T o o l. 100
60 Chicago Telephone— 100 127 Jan 4
Do rights------------------36 Chic Title & T r u s t ... 100 117 Jan IS
75 Commonw ’th- Edison. 100 107 Jau 21
Corn Prod Ref Co C o m ...
17% Feb 26
Do
Do Pref___
70U Mch26
02 Diamond Match-------- 100 117 Jan 9
38 Jan 26
145 Illinois Brick----------..1 0 0
Masonlo_Templc..........
43 Jan 6
‘ ‘ Brewing.
Mllw & Chic
Do p re f..
2012 Apr 27
97^8 Jan 2
45 National Biscuit— T_100
Do pref__________ ,100 I I 8 I4 Feb 15
82 Jan 14
2 0 0 National Carbon......... 100
Do p ref___________ 100 HO Jan 15
85
437 People sG asL & C oke.. 100 102 Jan 5
Do rights------------------l2 Feb 25
58 Jan 5
)26 Sears-Roebuck c o m .. 100
Do pref_____ ______100 101 Jan 5
118
775 Swift & C o ------------------100 10()i2 Jan 9
Do rights......................
6 Feb 5
160 The Quake’- Oats C o ..100 119 Jan 5
Do pref...............
100
98*2 Jan 2
01
5. Feb 19
. . . . Unit Box Bd & P C o.100
D o Full p a id ._____
2U Feb 26
334 MchlO
D o pref..............— 100
Do Full p a , d . . ____
IOI2 Mch 0
805
Western S tone---------- 100
15 Feb 16
—
l4ig May2(
86 J’no 4
203 May 3
129 Apr 17
6012 Mayl?
110 J ’n o 12
1 Jar. 2
5 Jan 5
16*4 J ’ne28
57 J ’ne 8
58 Apr 16
1 Apr 27
2ig Apr 27
2738Jan 4
134 Meh21
141 J’ly 8
121l2 J ’ly
24% J ’no 15
88i» Mayl9
130 J ’ly 1
40 J ’no 26
46 Feb
J ’ne 28
Jan 16
Apr 20
J ’ ue 8
Apr 1
Apr 8
Mch 20
Mav *'
. . . J ’nel4
11178 J ’ne lo
20 Jan 18
130 J ’ly 9
103 Mayl7
lSg Mch 26
3 '8 Mch 2
9 % Jan 4
10% J ’no 5
25 Mch 15
160 Jan
1*8 Feb
6i-Dec
8434 J tie
38 Oct
20 Nov
934 Sep
15 Feb
30 Oct
68 Sep
I 2 I4 Nov
42 Jan
1334 Aug
46 Aug
42 Aug
2612 Apr
85 Apr
4 Feb
41% Jan
125 Jan
116 Apr
37 Mch
91 Jan
7g Deo
3 Dec
Teal
185 Dec
3 tg Aug
10 Aug
119 Nov
47 J’ne
28 Dec
13% Deo
30*2 Dec
4734 Nov
86 % Nov
19 Jan
64 May
22 Dec
6212 Deo
71 Jan
34 N ov
103 J ’no
10 33 Nov
767g Dec
Dec
Nov
63 Nov
104 N ov
30 Jan
100 May
200
12 SI4
40 Feb
1 Oct
2 Nov
20 Dec
106 Jan
34 Feb
100 Jan
80 Jan
5714 Deo
l ‘g Aug
4 Apr
301, Aug
153 Sep
23.| Feb
116 Deo
110 Oct
113 Jan
30 Jan
38 J ’ne
137 Aug
42% Deo
46 J ’ly
19 J ’ne
70 Jan
Jan
51 Mch
91 Melt
8012 Jan
10 13 4
24 Jan
72 Jau
88*2 Jan
20
07
12 0
87
115
106
J ’ly
Deo
Aug
Deo
N ov
Deo
66 Deo
Deo
10534 Sep
10 2
Jan
Jan
J ’ly
134 Jan
ICO J ’ly
184 Jan
B 2 J ’ly
12 Jan
114 3 4
87
14
17 "
1134 Oct
Apr
Chicago Banks and Trust Companies
B'ds
Sold
,010
High N o.
10 0 Mch’07
9 5 I4 J’ne’09
102 J’no’09
101<4Fcb 09
10 0 May’07
1037s 104
103 Apt’04
50 Apr’09
9634 Jan‘08
87 Feb'06
747.July’09
101% 1013S
06
96
87
8/
S9U J'ne’09
10134 10134
102UMch’09
101% 101>8
60%AugO8
66!-> J'lv'08
1033s 1033s
10234 1027s
100 June'Us
101 J’no’09
lOUt J’no 09
l 027sJuly'09
80 . ajo-08
9834 J’no’09
98 Mch’00
90U J'ne’09
16 May’05
,'4 ’ ' ___
2
60
555
Hanot lor P revious
Range since
Jail. 1 1900
STOCKS
CHICAGO STOCK
EXCHANGE
__
Chicago Bond Record
BONDS
CHICAGO STOCK
EXCHANGE
W eek ending J u ly 9
I
W eek
R ange
1or
Y ear 1909
NAME.
Outstand
ing
Slock
Surplus
and
Profits
t
Bankers N a tio n a l____
*2,000,000 $1,284,770
36,276
Calumet National____
100.009
500.000
106,741)
96it’s Chicago C ity -- . . . . . . . .
4,344
Commercial National___ 3.000.
000 640
3,952,819
Continental National___ 4.000.
000
6,279
50,000
102 102! Cook Co State S avings..
5,189,96s
000
101 101U C om Exchange National 3.000.
37,245
200.000
Drcxcl State..................
600.000
413,276
Drovers Dep National___
108% 105
33,000
200,000
Englewood State-----------000
8,227,36s
First National--------------- 8.000.
*35" *5*0"
165,042
160,000
First Nat Englowood____
565,608
Foreman Bros B’k’g C o. 1,000.000
436,965
Fort Dearborn Natlonal. 1, 000,000
160.567
500.000
Hamllton National_____
806,641
72
747, Hibernian B’k'g Assn___ 1.500.000
118,260
200.000
1007. 1023) Kaspar State Bank_____
396,836
931. 90U L iv e s to ck Exchange Nat 1.250.000
63,178
300.000
84% 89% Monroe National---------2 , 000,000 1,164,839
Nat Bank of Republic—
89
91
520,474
1.500.000
101U 102Sg National C ity__________
66,685
250.000
1021g 1023S National Produce______
67,729
200,000
10U8 102% North Avenue State____
12,102
50.000
North Side State Savings
0,162
200,000
101 10134 North West S tate______
72,664
250.000
103 10334 Prairie N ational------------45,546
600.000
101 103i.| Prairie State-----------------6.141
250.000
Railway Exchange.........
146,102
300.000
IOO34 1013,
78,176
200.000
101 102% South Chicago Savings.
10234 1035g State Bank of C hicago-_ 2/ 1, 000,000 1.414,754
179,358
250.000
Stock Yards Savings—
42,726
200.000
Union Bank of Chicago.
66,624
200,000
98*4 Union Stock Yards State
2,709,694
American Trust & Savgs- 3.000.
000
90
794,826
000
Central Trust Co of III.. 2.000.
91
80,508
n500,000
Chicago Sav Bk & Tr-----Chicago T itle & T r u s t ... 6,000,000 1,208.019
8,453
50.000
Oitl/.ens
Trust
&
Savings
83
m 2
500,471
600,000
82% 84U Colonial Trust & Savings
98,370
200,000
92U 961 Drovers Trust & Savings
218,081
Farwell Trust C o----------- 1.500.000
99
First Trust & Savings__ 2,000,000 2,665,234
9 3 ' 98
7,400
200,000
100U 1001 Guarantee Trust & Sav.
Harris Trust & Savings. 1.250.000 1,051,962
9634 98
8,386,842
000
98
997g Illinois Trust & Savlngs. 5.000.
44,669
200,000
100 1001, Kenwood Trust & Savgs
34,889
200,000
Lake View Trust & Savgs
120 122
4,983,232
000
Merchants' Loan & T rC o 3.000.
103 104
239,385
750.000
104 10438 Metropolitan Trust & Sav
1.500.000 2,138,833
102 1021 Northern Trust C o...........
61,656
North-W estern T r & Sav
260.000
1 0 1 1 2 10 2
200.000
08,577
9412 96*4 People’ s Trust & Savings
177,743
Pullman Trust & Savings £500,000
100l2 102
Stockm en’s Trust & Sav
200.000
20,363
92
98
1.000. 000 1,188,514
Union Trust C o..............
204,973
Western Trust & Savings 1 ,000,000
70
50,33"
200,000
West S ld eT r & Sav Bank
70U
35,920
200,000
W oodlawn Tr&Sav Bank
Low
95%
H igh
D ividend R ecord
In
In
1907
1908
8
0
10
8
0
10
12
12
12
8
6
6
8
6
12
8
0
0
9M
0
12
12
8
8
6
8
10
5
8
10
10-J-2
10
10
Prlv ate Ba
"5 "
8
8
3
"2H
6
8
4
" 0 *
9+ 1
6
6
6
8
7
Last P a u l
Q-M Juno 091 2
An Deo ‘081 6 ,
J-J July ’091 5
Q-J July ’091 3
Q-l July 091 2
Q-M July ’091 Hf
Q-l July ‘09, 3
A-O Apr '09, (?)
Q-J July '09, 2%
<4--i July 091 li 2
Q-M July '09. 4
Q-M J’ne30 09 2%
nk
Q-J July '09, 2
J-J July 09, 21j
Q-J July ’091 2
J-l July 091 5
Q-M J’o 30 ’09,21j
Q-l Mayl 09. 1
Q-J July '091 2
Q-l July -09, Hj
July '09, 1
Q-J July ’091 1 %
Q-J July ’091 112
July '09, Hj
Q-M Juno '09, lli
Jan ‘08. 2
July '09, lli
Q-l July ’09. Hi
"a *
11
Q-l July '091 3 '
J-l) June 30'09,'JI
7
M-N May ’0 9 ,3 '
6
6
Q-l July '091 1%
Q-l July '091 2
8
7
Q-l July '091 1*4
Q-l July 091 lb
Q-J July '091 Hi
4 A-O Apr 091 2
8+2 Q-J July '09, 21|
7H Q-l July '091 2
Q-J July ’09. Hj
Q-M July ’09, 4 ,
orated .903
87,p.1131
Q-l
0
16+4
6
Q-l
4H Q-l
12
Q-l
Q-J
0
Q-l
8
J-J
0
6
Q-l
Q-l
8
5
J-l
8 Q-M
Q-J
0
bualne
0
Q -J
8
2
"0 *
3
S3
831,
10
837g J’ne'Ol
6
94
943s
98%
97
«7
Incorp
10 0 3 sMch’ 09
97 Mch'09
16+4
98 J’ne’ Oo
4.60s Series E _______
6
100 Meh’ 09
4.80s Series F . . . . . . .
2
12 1* 4 May’09
12
103% Sale 10338 103%
Refunding g 5s.
0
104%July’09
101 104%
8
102% 10238 102U J’ne’09
6
___ 102 Apr'09
0
05U
96U
95% 05%
£8
___ ___ 101*8 J’ne’o«
6
95 J’no’09
114
Nov’04
- ___
**0*
80 July’09
170
78
Began
80%
80%
80% Sale
General mtg 6s.
0
85%J'ty’03
A - O
S o t o .— Accrued Interest must be added to nil Chicago bon d Drices
t June 23 (close of business) for national banks and June 24 (opening of business) for Stub
•' ' Increased from $300,000; a stock dividend of 33 1-3J(
Institutions, *1 N o 'p r ic e Friday: latest price this week, a -Duo Dec. 3 1 . b Due June,
k■ ~
Capital
being declared In part payment therefor, n Capltal and surplus_to be Increased. <1 Dividends arc paid Q-J, with extra payments Q-F. r As of dat4
V
.88,
p.
1477.
Deo.’ 31 1908. y Capital Increased to $1,5 0 0 ,0 0 0
”
'
Metr W Side KIlst 4s_______
F - A
J
.1
M- 8
Q- M
1 - N
J - D
M- S
.M -N
M- N
sA - C
,\i - 8
J - .
J -1 )
M- N
J - J
1J - .
A - (
M -N
a .....
83%
___
94
1983s
97
83%
83
Sale
Sale
Sale
10 0
-----96*4 97%
98
___
99
___
JuitY 10 1909 |
THE CHRONICLE
Volume of Business at Stock Exchanges
95
Bid
Electric Companies
As
Chicago Edison Co See Cl icago list
Kings Co El LAPCo 1 0 i) 130 133
93
Narragan(Prov) El Co.5( J *91
40
NY&<3 El L &PowCu.lO
30
72
) 65
75
United Elec o f N J ...1 U . - 70
75
) 74
e
TRANSACTIONS AT THE NEW YORK STOCK EXCHANGE
DAILY, WEEKLY AND YEARLY.
Slocks.
W eek ending
J u ly 9 1909.
Shares.
P a r value.
R ailroad,
A c .,
B on ds.
State
B onds.
U . S.
B on d s.
....
.......... HOLI D A Y ..........
.......... FIOLI D A Y ..........
404,718 $38,613,300 $4,410,500
607,920 48,427,000
5.364.500
481,708 45,191,800
6.124.500
448,134 41,904,525
3,526,000
T ota l......................
Sales at
1,842,480 $174,196,625 $19,425,500
W eek ending J u ly
9.
Jan.
Perry Companies
B & N Y 1st 0s 1911. J J
$85,500
95,000
180,000
243,500
$2,000
3,000
$604,000
85,000
1 to J u ly 9.
92
88
40
1 32
| 55
05
97
) 95
: 1061? 107%.
1 95
40
) 34
70
) 65
31
) 30
93
; 95
1909.
E xchange.
1908.
Short-Term Notes
1909.
1908.
99%
Stocks— No. shares—
1,842,480
2,863,100
87,847,845 Am C!e ser A 4s ’l l ..M - S 1 99
101,753,020
98%
Ser B 4s Mch 15 12M SJ 98
Par value________ $174,190,625 $256,398,000 $9,317,226,708 $7,840,922,125
Bank shares, par------$2,000
$1,400
S115.400 Am Tel & Tel g 5s TO J-J1 1006* l()07g
$18,900
Atlan Coast L 5s '10.M -S; 10078 101%
B on d s.
63
$5,000
Government bon d s...
$21,500
$393,320 Cln H am & D 4H s ’08 M-S; / 67
$207,700
Col tr g 4s 1 01 3 ...J -J1 9414 95%
604,000
State bonds-------------1,165,500
59,851,000
22,476,700
UR. and mlsc. bonds.
19,425,500
13,306,600
408,324,700 O C C & St L 5s. June T l 1013f 101%
731,171,400
Erie 6s. Apr 8 1 91 1 ..A -O1 100 101
Total bonds_______ $20,034,500 $14,493,600
$468,569,020 Interb R T g 6s 1911 M-N 104% 104%
8753,855,800
, 5s Mch 1910............M-S i 101'4 101%
K C R y & Light (is *12 M-S; 100 100%
DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
Lack
Steel 5s g 191 0 .M-Si 9934 100
EXCHANGES.
Lake Sh & M So 5s’ 10 F A. 100% 1007g
Lou * Nash g 5s TO.M-S; lo i's 101%
Mex Cent 5s July 1 191"1 100', 100%
Boston.
Philadelphia.
W eek ending
Mich Cent 5s 1910___F-A . 10 0 % 10 )7*
J u ly 9 1909.
Minn & St L g 5s T l.F -A , 99% 99%
Listed
B on d
Unlisted
B on d
Unlisted
Listed
N Y Cent 5s 1010____F-A . 10 0 % 100%
shares. shares.
sales.
sales.
shares.
shares.
N Y O Lines E(jp 5s T0-27 b i h % 3%
N Y N H & H 5s T0-T2: 100% 102%
S a t u r d a y .......___
DAY
Norf & West 5s 1910M-N 101 101%
Monday___ ________
DAY
'Tuesday___________ 15,015
$59,300 Pa R R 5s Mch 15 TO Al-s: 100% 101
18,234
$59,000
6,090
2,757
Wednesday_________ 11,931
04,260 Public Service Corp 5s—■Sea S: Ry«
18,886
80,000
6,431
15,531
0812 99%
Thursday__________ 19,672
56,760 S tL & San F r g S s ’ ll.J & J
11,064
113,300
4,703
8,308
1 6 i2 97
, 4 J4%g notes’12 opF&A
F rid a y...,,................ 25,126
18,578
82,000
37,600 smith
6,272
13,083
Dir Ka la m
i: a 100% 100%
100% 101
20,213 $217,920
. Total .................... 71,7441 66,762 $334,300
43,012
102% 103%
Westlngh El&M 6s 19101 1007g 101%
Outside Securities
All bond prices are now “ and interest1' except whcro marked “ f.
Street Railways
N ew
Y ork C ity
BloeckSt & Ful F s t k .100
e 1st mtge 4s 1950-J-J
e B 'y & 7th A vc stk__10n
e I'd mtge 5s 1014—J-1
Con Os 1943 S ee Stock
B’way Surf l3t 53 gu 1924
e Cent’ l Crosst’n s tk ..l0 0
e 1st mtge 6s 1922.M-N
e Ccn Pk N & E R stk 100
e Chr’t'r & 10th Ststk 100
Col & 0th A vc 5s S ee Stock
Dry D E B & B—
c 1st gold 5s 103 2 ..J-D
e Scrip 5s 1914------ F-A
Eighth Avenue stock.100
e Scrip 0s 1914____ F-A
e 42d & Gr St F'y s t k .100
42d St M & St N Ave.100
e 1st mtge 6s 1910.M-S
2d Income 6s 1915.J-J
Inter-Met — S e e Stk Exch
Lex Av &PavF 53 S e e Stk
Metropol St R y — S e e Stl<
Ninth Avenue s t o c k ..lo o
Second Avenue stock.100
e 1st mtge 5e 1909.M-N
Consol 53 1948____ F-A
• Sixth Avenue stock.100
Bou Boulev 5s 1045__ l-J
Bo Fer 1st 5s 1 9 1 9 ...A -O
Third Avenue — S e e Stock
Tarry VV P & M 5s 1028
YkersStRRSs 1946 A-0
28th & 20th Sts 1st 6s ’00
I Twenty-Third Ststk 100
Union Ry 1st 5s 1042 F-A
VVestchest 1st 5s 43 J-J
Bid
Asl:
15
30
75
65
140 160
;ioo 101
Exc list
102 104
1
mmm
.rn
30
80
Exc
95
50
90
list
95
/ 45
250
/ 95
200
100
55
30J
100
260
97
50
an
Exc
Exc
150
20
06
1 78
115
60
00
Exo
/ 50
85
; 22
200
98
60
100
75
list
list
list
170
30
10j
82
130
85
05
list
80
05
29
250
102
75
.... __
1
B r o o k ly n
90l2
Atlan Ave 5s 1 0 0 9 ...A -0
97
Con 53 g 1 0 3 1 .... .A - O
95
B B & W E 5s 103 3 ..A -0
Brooklyn City s to c k .. . 1 " 192
Con 5s— S e e Stk Excli Use
97
Bkp Hgts 1st 5s 1941 A-O
Bkin Queens Co A Sub
97
s is t g 5s ’ 41 OP'IO.J-J
Con guar 5s— S e e Stock Exch
Bklyn Flap Tran— Sec Stk Lxc
80
e Coney Isl & T lk lyn ..100
1st cons g 4s 1948. .J - j 78
97
Brk C & N 5s 1039.J-J
Gr’pt&LorSt 1st 6S.M&N
Kings C El 4s— s e e Stock Exc
Nassau Elec pref____ 100
5s 1944..................... A-0 103
1st 4s 1951— see Stock Exc
00
N W bg&FInt 1st ex 4 Hs
Stclnway 1st 0s 1022.J-J 106
101
102
100
195
list
100
Street Railways
Pub Serv Corp N J (C on)
Rapid Tran St R y.100 245
1st 5s 1921...........A-0 105 109
J O H ob & Paterson—
7712 79
4s g 1949............M-N
S oJ Gas E l& Trao.lO O 120 128
98% 99%
Gu g 6s 1053...M -S
No Hud Co RySs'14 J-J 100 108
53 1028................... J-J 105
E xt 5s 1 9 2 4 ....M -N 100
Pat City con 6s *31.J-D 113
2d 6s opt 1014...A-0 100
So Side El (Chic) S e e Ch Icago list
Syracuse R T 5s ‘ 40.M &S 103 10412
Trent P & H 5s 1943. J-D 100 102
United Rys o f St L—
22 % 22%
Com vot tr c t fs .___100
0934 69%
ePreferred . . . . . _100
Gen 4s 193 4 ..See Stock Exo list
UnltRys San Fran S e e Stk Exc list
42
43
Wash R y & El Co____ 100
91
P r e fe r r e d .................100 90
87% 88
4s 1951.....................J-D
Railroad
Atch T op & Santa Fe—
Conv 4s (w ()—See Stk Exch list
Ohio Mllw & St Paul—
04% . . . .
Deb 4s (when Issued )..
Chic Peo & St, L p re i.lu o
3
1
Deposited stock_____
3
1
Undenosltcd stock___
03
/ 88
55
t 48
i u w iu c ua( «juiy
t ----5%
Chic Subway________ .100
20% 22%
Ft W & Den Cy std . _ 1 0 0
97% —
Kansas City Sou 5s A pr 1
1950 (when I s s u e d )... 100% I007g
..a t R y s o f Mexico— See S tk Ex list
N ortlrn Securities Stubs. 125 135
Pitts Bess & L E______ 50 *33
36%
Preferred _________ .50 *70
75
eRatlroad Securities Co—
III O stk tr cfs ser A *52
Seaboard Company—
1st preferred______ 1 0 0
72 175
Com & 2d pre£-See Balt Exc list
Seaboard Air Line—
Coll 5s ext May T l M-S
99% 995S
Union Pacific 4s S e e Stk Excti list
West Pao 1st 5s ’ 33.M -S
97% 93
Industrial and Miscel
Gas Securities
N ew Y ork
Cent UnGas 5s g^ 2 7 _j& j 10I12
Con Gas (N Y )— See Stk Exc
e Mutual G a s ..__. . . . 1 0 0
144
New Amsterdam Gas—
1st consol 5s 194 8 ..J-J 101
N Y& E R O as 1st 5s’ 44 J-J 1041;
Consol 5s 1 9 4 5 ..___J-J
97
N Y & Richmond Gas 100 32
Nor Un 1st 5s 192 7 ..M-N
97
e Standard Gas c o m . . 100
50
e Preferred . . . . . . . 1 0 0 n 00
1st 5s 1930.......... ..M -N 10O
Adams Exp g 4s 1947 J-D / 92
93
*182 200
Alliance R ealty______ 1 0 0 115 120
Allls-Chalmers Co 1st mtg
s f 5s 1936— See Stock Exch list
American B o o k . . . . . . 100 150 155
American B rass.. . . . 1 0 0 114 117
American Chicle c o m .100 210 215
Preferred _________ 100 102 105
Am Graphophone comlOO
9
Preferred ________lo o
29
Amer Hardware_____ 1 0 0 124 128"
AmMaltlugOs 1 9 1 4 .-J-D 101 104
Amer Press A s s o c'n ..l0 0 100 105
Ain Soda Fount c o m .100
%
1st preferred______ 1 0 0 “ o '
2d preferred______ 1 0 0
*7**
Am St Found new — S e e S tk Ex list
0s li)35....................A&O 101% 104
Deb 4s 1933 _____ P&A
7U
72American Surety_____ 50 214 217
American Thread p r e f ..5 *4 % 5%
Am T obacco Co com.lOU 420 435
Amer T ypefdcrs c o m -1 0 0
41
44
Preferred _________ lou
97 IOO
Amer W riting P a p e r.100
2% 3
Preferred ................. 1 0 0
19% 20
1st S f g 5s 19 OP’OD.J-J
80
87
A tlGf& W Ind SS LI nes 100
10% 12
Preferred__________ 100 28U 29%
Col tr g 5s 1959 ___J-J / 72% , 73
Barney & Smith Car.100
30
41
Preferred__________ 1 0 0
90 n o
Bethl m StcelC orp — S e e S tk Ex list
Bliss Company c o m .. 50 - - - - 118
Preferred __________ 50 123 128
Bond & Mtge G u a r ...100 z285 295
Borden’ s Cond M ilk ..100 132 135
P r e fe r r e d _________100 105 106
British Col Copper_____ 5
*7% 7%
Butte Coalition Mining 15 *24
24%
Casein Co o f Am com . 1 0 0
2% 4
Preferred . . . . . . . . 1 0 0
00
70
Casualty Co of Am cr-100 180 145
Celluloid C o . . ____ .. .1 0 0 132 134
Cent Fireworks c o m ..100
9
7
P r e fe r r e d _____ .. .1 0 0
70
60
Central F oundry____ .100
2% 3%
Preferred .................100
18
16
Deb 6s 1919 op ’01 M-N
72
68
Chesebrough Mfg C o .100 520 570
70
City Investing C o . . . . l o o
65
eClaflln (H B ), co m . . 1 0 0 100 105
elst preferred___ . . 1 0 0
95
91
92
«2d preferred___ . . . 1 0 0
97%
80
Col & Hock Coal
pt loo
90 *95 "
1st g 5s 1917............ J-J
Col-tr 6s O ct 195 6 ._J-.’ 101% 102%
Consol Car Heating__10u
25
30
Cons R y Lgt&Refrtg-lOO . . . . . . . .
10212 Ahmeek Mining__. . . . 2 5
list
103
100
100
40
09
80
91)
105 ,
O th er C i t ie s
Am Gas & Eleo, c o m .50 *33
35
Preferred________. . . 5 0 *4412 45l2
Amer Light & Traot-lO o 230 232
Preferred _________ 1 0 0 108 111
Bay State Gas_________ 60
34
%
Ulngh’ t’n (N Y) Gas Wks
„ 1st g 5s 1938____ A&O
0S12 100
Brooklyn Un Gas— S e e St k E xc list
list Buffalo City GasstocklOU
6% 7*2
list
1st 5s 1047 — S ee Stoc.; Exc list
95
93
Con Gas o f N J 5s 3 6 . J-J
98
81
Consumers' L H & Pow—
100
5s 1938......................J-D 106
Denver Gas & E le c..1 0 0 130 i f f
list
93
Gen g 5s 1940 op .M -N
95
Elizabeth Gas Lt C o . . 100 276
108
Essex & Hudson Gas.100 132
list
Gas & El Bergen Co 1 0 0
7i
73
100 e Gr Rap G 1st 5s 1 5 .F-A
99 100
109
Hudson Co Gas___
lou 125 128
O th er C itie s
lt)3 i 2(>12
Indiana Lighting C o . 1 0 0
Buffalo Street Ry—
4s 1958 op _____ ..F -A
05
1st consol 5s 103 1 ..F -A 106 109
Indianapolis G as"... 50
40
1st g 5s 1952____".Y a -0
Deb 03 1017___ . . . A - 0 106 103
75
90
97E s973j Jackson Gas 5s g 3 7. A -0
Columbus (O) St Ry.lOU
88
02l2
IO5 I4 e Laclede Gas____ _ 100 104 100
P re fe r r e d _______ .100
Colum R y con 5s— SeePh la Use
o Preferred . . . . . . . 1 0 0
97
Crosst vm 1st 5s '33 J-D 10 2 12 104
Madison Gas 6s 1026. A-O 103 * 108
78
72
•Conn Ry & L tgcom .100
Newark Gas 6s 104 4 ..Q-J 130 132
80
85
ePreferred..............t o n
Newark Consol G a s ..l0 u
98 100
1st & ref 4 'A s — See Stk Exc list
e C o n g 5s 1048.
j-|j 108 10812
s8Jl2 No Hudson L H 6; Pow—
Grand Rap.ds R y ____ 100
Preferred .................100 83 ,?85
5s 1938....................A -0 110
e Loulsv St 5s 103 J__J &J 107 108
Pat & Pas Gas& Elec-100
92
95
Lynn & Bos 1st 5s 24 J-D ai05 107
e Con g 5s 1049___M fc 102 104
a Now Orl ltys & Lgt-100
16-1* 17b St Joseph Gas 5s 1937.J-J
95 100
« P re fe r re d .............. 100 4j 12 4612
lelegr & Telephone
Gen M g 4 Us ’35 S e e K tk Ex list eAmer Teletj & C ab le.100 70
84
PubServ Corp of N J . 1 0 0 104 109 eCentral & bo A m e r ..lo u U0 115
Tr ctfs 2 % to 6 %perpo:
f>7
89 Cornm’l Un Tel (NY) .25 n o 120
Coll 5s g notes 0 9. M-N 10014 10012 Emp & Bay State Tel lo o
05
75
North .jersey St Ry 10O 45
55
Franklin_____________lou
40
45
1st 4s 1048_____ M-N
79
70'? •Gold & Stock 1'eleg .100 100 115
75
Cons Tract of N J_100
70
N Y & N J Teleph— See St k E xc lint
1st 5s 1033_____ J-D 1051? 100'2 cNorthwestern Teleg._50 107 112
New’kPasR y 5s '30 J-J 108
Pacific & A antic_____ 25
05
76
Southern & A tla n tic..25
90
95
» Por share. oEx-rtgh ts. 6 Basis. 3 Sells on Stic. E x ., but not very active. /Flat prtoe.
.... __
....
Hi'
T
__
....
__
ASH
Industrial and Miscel
5
Consol Rubber T lr e ..l0 i
26
23
Preferred .................lot
38
Debenture 4s 1951 A&O t 34
Cons Steamship Lines ion
„ Coll tr 4s 1057 rctsJ&J 1 "22" 23*
Com Prod R ef S e e Stock E xc list
eCruclble Steel______ 10.
721J
ePreferred_________ loi
Cumberland Ely Copper.5 *7“ ie ' 1U
♦Diamond Match C o - 1 0 0 12634 I29IJ
Dominion Copper______ 1 0 1
Douglas Copper_______ 5 V i
" i's
Econ’y Lt & P (Joliet, 111)
08
93
1st M s f g 5 s 1956.J-l
25
20
Electric B oat_______ 1 0 0
60
75
Preferred _________ 10(
Electric Vehicle.......... lot:
P r e fe r r e d _____ _ 101
10
7
Empire Steel_________ lo t .
571; 65
P re fe r r e d ___. . . .l o o
^Federal Sugar of N Y Sea Stk t xltsl
77
eGeneral Chemical__ 1 0 0
^ ePreferred _________ lo o 103
* 61.
G3S
Goldfield Consol Mines- 1 0
2l2 1
Gold H1U C opper______ .1
*U34 10
Greene O ananea.___._2i.
193 199
Guggenheim Explor'n 10
eHackensack Water Co
89
91
R ef g 4s ’52 op T 2 ..J -.)
50
Hall Signal C o . . _____lo u
55
11
13
Havana T ob a cco C o ._ i 0 ;'
23
26
Preferred_________ l o i f
65
70
1st g 5s June 1 2 2 .J-J
Heckor-Jones-Jewell MU
1st 6s 1922...............M-1-, 105 103
35
46
Her’ g-Hall-Mar, new.100
Hoboken Land & ImplOu
oVi8
e5s 1910__________ M-N
b
10
Houston O i l . . . . . ___ 100
38
■12
Preferred _________ 100
Hudson R e a l t y . . . . . . 10 0 100 110
elngersoll-Rand. c o m .109 65
90
e P r e fe r r e d ___. . . . 1 0 0
Intcrnat’l Bank'g Co.lOJ n o
Exc list
Int’nl Mer Mar S e e Stk
Intcm at’b N ickel___-10f. 105 115
87
90
P re fe r re d ______ ..1U 0
80
87 '
1st g 5s 1932____ A&O
12
15
International Salt___10,,
1st g 5s, 195 1 .____ A -0 / 54
59
8
IntematT Sliver_____ 10U
10
86
90
P r e fe r r e d _____ .. U 0 0
1st 6s 1048_______ j |) 100 111
Internat Smelt & Refg 100 120 130 .
Jones &LaughlIn Steel Co
1st S £ g 53 1 0 3 9 ..M-N 1005t 101
47
52
Lackawanna S t e e l...lo o
Lanston M on oty p e...2 0 ♦15
15t2
Lawyers' Mtge Co__„10i> z220 225
100
110 ;
eLeh & Wilkes-B Coal 5u
Lord & T a y l o r . . . . . . 100 100 105 4,
98 103
Preferred . . . . ___ .100
eLorlllard ( P ) . p r e f ..100 130
25
Madison Sq Garden__100
35"
80 100 1
2d 6s 1010________M-N
*178 214 Manhattan Transit . . . . 2 0
Mitchell M in in g ... . . . 1 0
Monongahela R Ooal-.SO
Preferred . . . ___ . . . 5 0
Mortgage Bond C o . . . lo o
Nat Bank o f C u b a ...100
N a tl Surety (new)__1 0 0
Nevada Cons’d Copper-5
2334
Nev-Utah Min & Sm _10
1»1«
eNew Central C o a l . . . ,20
53
NY Air Brake 6s S e e Stck
list
N Y Biscuit 6s 1911.M-S
‘ few York D o c k ... .1 0 0
ePrererred . . . . ___ *100
N Y Mtge & Security.100
N Y Transportation . . . 20
Niles-Bern-Pond com.lOU
Nlplsslng M i n e s . . . . . . .5
eOntarlo Silver___.. .1 0 0
OUs Elevator c o m . . .100
Preferred . . . . . . __1 0 0
Pittsburgh B r e w in g ...50
Preferred __________ 50
Pittsburgh C oal.Ses Stk
Pope MfgCooom(neW )100
Preferred (new )__ -100
Pratt & Whltn p r e f ..100
Realty Assoc (Bklyn) 1 0 0
Royal Bak P ow d com 1 0 0
Preferred__________ lo o
Safety Car Heat & L t.100
Seneca M in in g .... . . . . 2 5
Singer Mfg C o . . _____ 100
"andard C o rd a g e ...100
1st M g 5s '31 r e d . A-O
Adjust Al 5s Apr 1 1931
Standard Coupler comlOO
P r e fe r r e d _____ .. .1 0 0
andard MlUing C o . . 100
Preferred _________ 1 0 0
1st 5s 1930............M-N
Standard Oil o f N J ..1 0 0
Swift & C o - S e e Boat Stk
1st 5s 1 9 1 0 -1 9 1 4 ...J-J
eTexas& Pacific C oal-100
Title Ins Co o f N Y ___100
Tonopah Min (N e v a d a ).1
Trenton Potteries comlOO
Preferred, n e w ... .1 0 0
Trow Dtreecory___.. .1 0 0
Uni in Typewrl ter comlOO
1st preferred— ___ 1 0 0
2d preferred_____ . . 1 0 0
United Bk Note C o rp ..5 u
Preferred _______. . . 5 0
United Cigar M frs._ .100
ePreferred____ ____ 100
United Copper_______10U
Preferred . . . _____ 100
U S Casualty______ ,.1 0 0
U S Envelope co m ___100
Preferred . . . . . . . . 1 0 0
U S Finishing________ luu
Preferred___________ioo
U S Steel Corporation—
Col tr s f 5s '51 opt T l 1141? 115
Col tr s f 5s ‘51 n ot opt 114l2
U S T I t G u & Inden»-10o
60 V o"
sUtah Copper C o - S e e Stk Exc list.
W aterbury Co, com _ . 1 0 0
Preferred . . . _____ 1 0 0
Westchester & Bronx 'lit
& Mtge G u a r ... . . . 1 0 0 155
Western I c e . . . . . . . . .1 0 0
Westlngh Air B ra k e...5 0
West El & Mfg 5s- S e e St
White Knob M in .. . . . 1 0
P re fe r re d ___. . . . . . 1 0
na
W orthing Pum p pref - 1 0 0
n Nora. 5 Sal* prtoo, z E j -d lv ,
7f 8
?/ Ex-rights.
jNew stock.^
BOSTON STOCK EXCHANGE—Stock Kecord, Daily, Weekly and Yearly
STOCKS
S H A R E P R IC E S — N O T P E R C E N T U M P R IC E S
S aturday
J ul'l 3
M onday
J u ly 5
T uesday
J u ly 6
W ednesday
J u ly 7
Thursday
J u ly 8
F rid a y
J lily 9
li
571
BOSTON STOCK
EXC H AN G E
R ange sin < Jan.
1909.
1
,\ange lor P -evlou s Year
il908)
Railroads
#7*3 Feb 101% Dee
98 Jan 13 117 * 2 J’ly 8
Atch T op <&Santa Fe.100
116% 116% 1
8: % Mch 104% Deo
Do pref___________ 100 10034 Jan 15 DO .( lie 7
10
104% 105%
230 Deo
181 (-Jan
239%
Apr
8
225
Jan
1
Poston
ic
Albany-------100
143
230
230
1
2 1 1 - Dec
140 Jan
132%
Apr
?2
118 lloston Elevated---------100 124% Ja:i 7 235 Mch 1(4 209% Feb 228 Dec
130
130
Lloston & Lowell---------100 224 Jan 12
28 June’09
140 Jan
J ’ni 1/
114 Oct
150
132%
Jan
2
lloston
&
Maine---------100
150
136 Feb 166 Jan
Do pref___________ 100 151 Feb 26 160 Apr Last Sale 59 May’09
297 Apr 26 301 Jan J 284 Jan 301 Nov
Boston
&
Providence.
100
___
300
300
299
299
*298
*298 300
13 Alch
9 Mch
1134 Jan 2 22 Feb 3
Boston Suburban El Cos.
June’09
*15
16
Last Sale 5
*15
16
f 8 Nov
45 Jan
6012 Jan 5 75 Feb 3
Do pref_______________
71
70%» 70% *___
71 *
*69
71
17 Jan
812 Nov
14i* Mch 12
10
MaylO
B
oston*
W
or
ElecCo3
.
.
___
* 10
___ * 1 0
___ * 1 0
10
10
00% Jan
471- Dec
62 Jan 5 5 3 % Apr 2)
Do prei______________
56
56 *___
52% 52% *52
50 *
161% Dec
126 ' Jan
'.hie June Ry <5j U SY .100 143 .’ an 25 162 J ’ne2«
—
—
159 159
102 J a n 1201- Dee
MchlO 123 J ’ly (
116
Do
pref___________
100
123 123
163 Dec 166 Mch
1 0
Con & Mont, Class 4 . . 100 170 Jan 20 1/3
May’09
Last Sale 71
.in m i
AptConn & Pass Rlv p ref. 100 139 Jan 2 142% Mch 26 133% Sep 263 Dee
Im 31 Sal . 39% June’09
275 Mch lb 244 Jan
Jan
15
267
Connecticut
R
iv
e
r.-.1
0
0
Last Sale. 70 June’09
133
Nov
117
Jan
13
0
Feb
5
130
M ayll
Fltchburr, pref----------100
130% 131 * 13038 131
1303,8 130*8 130*8 131
86 Dec
07 Apr
75 Jan ,i 9434 J ’ne 10
Ga Ry & Electric------ 100
92'8 92% 92%
9278 9273 *----- 9278 *___
85 Dec
81 Oct
r9 Jan 14 88 J ’ne21
Do pref___________ 100
June 09
Last Sat. 8
*37 ___ "87
___
193
Nov
193
Nov
iU
6
%
Jan
i
Maine Central_______ 100 195% Ja; 13
Last Salt 95% Jan ’09
1334 N ov
8*4 Jan
15 Feb lb
11% Jan 12
Mass
Electric
Cos-----100
1334
*13%
*13
133, 13% 13*8 13*8 13*8
64 Nov
40 Jan
73% Mch27
68%
Jan
1.)
Do
pref___________
100
723S 72% 717S 717g 1
701- 721
161 Nov
70
70
7478 J ’ne 1Jan
N Y N H & H artford. 100 157 Jar. 21
170
170
170 171
146 Apr
171 17U- 170% 1"1
Jne
Northern N H ------------ 100 140 Feb 1 147 Men 2.)
Meh’09
Last Sale 47
Apr 205 Feb
209
Mch
13
Apr
13
200
Norwich
&
W
or
p
r
o
f-100
Last Sal' >00 A prl’09
196%
Dee
Jan
20
0
%
Jan
__
Old C olony......... ......... 109 194 Jan 5
20 0
20 0
20 0
34 Dec
20 0
20 0
*200
201
Jan
40 J ’ne 5
20 Apr 27
Rutland pref_____ ..1 0 0
June’09
Last Sals 19
95 Dec
Feb
113%
J’ne
90%
Mch
'’eattlo Electric----------100
Last Sale 09 June’09
102 Dec
* 1 0 2 " ” ]] * 1 6 2 " IIII
8838 Jan
Do pref___________ 100 97% Apr 6 103 J ’no 9
132
103
103
103 103
103
103 103
( 96 % J ’ly 6
110*2 MCI 185*8 Nov
194.33 1943s 193% 1937g
932 Union Paclllc------------ 100 zl727„ Feb 20 I0
97% Nov
7884 Apt
105is 10518 194
ii34 J ’ 11 c 24
93%
Mch
2
Do pref___________ 100
25
105 105 1104% 105%
]61 Nov
1043s 1043s
-apt 17 160 Jan
2 Vermont & Mass------ 100 165 Jan 20 ,75
91% Sep
172 172
98(3 Apr 23
76 Jan
Jan
88
West
End
St__________
50
62
"94
94~
j 1 0 Deo
921; 93
*021- S3
96 Jan
103 J ’ae26 H2 Apr 2/
Do pref___________ 50
7
105% 106%
105 105 *105 106
*105 “ 100
138 J ’ly 140 Meil
3 Wore Nash & R o ch .,1 0 0 144 Mch 12 146 MaylO
145 145
Miscellaneous
Nov
46% J’ly 6
13 Jan
3 3 % Jan 2
Amer Agrlcul Chem.-lOO
45
45% 43% 443., 3
Nov
4 53.1 46%
77 Mel
’ly «
Do pref___________ 100 94 Jan 18 1 0 3978 J
10 2
873
102 103
10 2 %
101 102
Dec
1001- 101
9 eo -3
4 Feb
6
*s
Jan
20
Amer
Pneu
S
e
rv
ice
..
50
7%
841
7% 717%
7 1S
Dec
22
J
’ne
14
9%
Feb
734 734
13 Jan 1
Do pref____________ 50
124
181s 18% 18% 18%
1734 173i 1812 181;
1373s Nov
99% Jan
130 Apr
399 Amer Sugar Retin— 100 121*2 J’no22 131 Apr 1
127% 127% 126
1267S
1261- 12073 126 127
100 Feb 132 Nov
Do pref___________ 100 120 J ’ne20 143 J ’ne29
92
125%
1241- 1251 *124 125% 125
132% Nov
1241- 125
99
Jan
14IBs ' 1,835 Amer Telep & Teleg_.100 126% Feb 1 37% Mav
1401- 1407 140% 1407s 140
3233 Deo
140% 141
16 Jan
27% Feb
333.1 333,
34
34
25 American W oolen____100
341
*33% 3414 *34
90% Nov
77*4 Feb
108 J ’n e l
9
3
%
Jan
15
Do pref___________ 100
638
104
4% Deo
103 10334 103 1031 103% 1033.4 104
714
J’ne
14
3
Jan
334 Apr ’
Boston Land_________10
Last Sal/ 7
June'09
*634 7% *034 71
9612 Jan 1 2 8 Nov
May 1/
Cumb Telep & Teleg.100 125 Jan 25 138
Last Sale 133% June’09
21% Deo
'.'133 135 *135
1434 Jan
4618
J
’nel
Jan
ll
18%
100 Dominion Iron & Steel.
*43
43% *44% 45
43
*421- 43% 43
8% Nov
1378 J ’ne 9
4% Mch
7 Jan 4
*11% 1134 *1138 11* 8
170 East Boston Land_____
1134 IV
201 Mch 253 Nov
11% 11%
A or
250 250
20 Edison Elec Ilium ___100 245 Jan 2 260
Deo
250 250 *248 250
182
Jan
111
16434
J
’ly
6
1637g 16378
206 General Electric_____ 100 15033 Feb 24 61 % A pt 12
164*, 1043t 164 104! 4 164 164
60 Deo
49 Mch
59 Jan 5 97 Apr 23
124 MassachusettsGasCos 100
63
6311 6311 031- 631 - 03% 63% 63
90 Nov
77 Jan
a
Jan
89
Do
pref___________
100
310
*91
91% 91% 91*8
91
SlK’s 00 ’3 91
Feb 17 192 Apr 215 Nov
25 Mcrgenthalcr L ino___100 £02% Mch 12 220
2 10
2 10
2091- 2091 - 2 1 0 2 1 0
*203 200
3 Oct
3
Mch 29
1 Mcli
2 Jan 5
23, 3
3
234 2! 4
169 Mexican T elep h on e.. 10
3
*21- 3
78 Noy
98 J ’n e li
40 Mcli
Apr
24
68
N
E
Cotton
Y
a
r
n
...
.1
0
0
95
95
95%
123
94
94
95%
*90
90
93
Deo
HO
J
’ne
li,
Mch
75
n
t
Do pref___________ 100 93 Jan
10
108
108 108 *106 108 *__
108 108
105 Jan 128 N ov
Jan 5 135 Mcti I 1
134
78 N E Telephone_______100
134
1341- 1341 » 134 134
134% 135
79 Deo
51% J’ne
100
May27
0
Feb
E
’
aclflc
Coast
P
o
w
e
r
..
100
i?H
%
Last
Sale
100 May’09
901
99% *___
192 May22
147 Jan 174% Nov
189 1S9
188
*147 Pullman Co__________ 100 168 Jan 30
188
18912 189% 188 189
1 1 % J ’n e l)
1 0 % Nov
9 Apr
934 Jan 11.
Reece B u tto n -H o le .. 10
.
Last Sale 11
June’09
*101
10 8 % J ’ly
88 % Jan
1
1
0
's
J
’ne
<
100
Jan
9
Swift
&
C
o....................
100
108%
1081103% 1081- "390
108% 10834
24
Oct :
2334
J
’n
e
24
20
Jan
Torrlngton, Class A . . 25 20% May21
Last Sail 2334 June’09
*23
*23
24
26% Deo
27 J ’ne 1 1
23 May
24% Jan 29
Do pref____________ 25
” 56
*25
27
26
26
26
*25
27
2% Jan
1 % Mch
2 Apr 3
I
Jan
20
Union,
Cop
L
’d
&
M’g
.
20
100
1%
1'S
Jan 148 J ’ly
359 United Fruit.................100 1.96% Jan 13 141 J’ne29 114*2
s 139 139% 139
139
139% 140
6238Noy
38% Jan
66% Jan 14
8 0 134 617s 61*8 61*8 1,426 Un Shoo Mach C o r p .. 25 l54 Mchl'i
6131
61% 62
30 NOV
303,
Moll
6
2478
Jan
2
8
%
Jan
11
Do pref------------------- 25
8
293., 2!)7S 29*4 293,
405
29% 297g 293t
5834 NOV
69%
j
hie
14
26
Jan
413. Fob 2(
08% 69
68
6834 8 ,v 14 U S Steel Corp............100
681 69"s 08
87% Jan 114 N ov
12 8
J ’ne 3
107
Feb
23
4
125
125%
Do
pref___________
100
125
294
125%
125%
125U '
125
9% N ov
4
Feb
1.14
May
6
0%
Jan
l
l
4
10
10 % * 10
150 West Telep & Teleg._100
*93i
11
*934 1034
80% Deo
69 Jan
70 Mch 3 88% Mayl4
Do pref___________ 100
.
88
83
40
87
*87
87
87
87
Mining
19*4 Aug
10*- May28
1% Feb
67S
634 J’ly 2
7
7
2C0 Adventure Con------------ 25
678
7
634 6%
41% Nov
4t% J ’n e li
24 Apr
42
4 *41% 42%
145 Allouez----------- ------------ 25 34 Jan 29
*41%
42%
43
*42
88% Nov
8
8
%
J
’ne
5
45
Feb
05
Feb
26
Amalgamated
Copper
100
81
813
4
80%
1.001
81% 1
8234 83
815,8
30 J ’nO
2034 Jan
28% 29% | 28
2S3, 1,939 Am Zinc Lead & a m . . 25 23 Me 1,27 8 O-4 J ’ne3U
291- 2934 29iS
6158 J ’no 4
63 N ov
28 Feb
.
48
48
GO A n a con d a ------------------- 25 38% Feb 26
0 Jan
6 Maylo
3 Deo
2(2 Jan 30
378
00 A rcadian----------8%
405g Deo
46% May 8
14 Jan
% 39
39
39
235 Arizona C om m ercial.. 25 30 Feb 2t,
39% 39%
39
*3912 401
.90
Aug
1
Fob 1 7
.40 Feb
45 Feb 17
A rn old -------------------------25
Last Sale "4
*34 ‘
June'09
1
*3i
19% Nov
8 Apr
18 cat) 2
9 J’ne 3
%
9
9
9
"585 A t la n t ic -------- - - - — 2o
9%
9
9
9
.75
NOV
80
May
I
.26
Oct
.45
Feb
10
___
* .50 .55
10 Bonanza (Dov C o)— 10
.50
.65
*.50
18% NOV
10% Apr
17% May 8
M chl
% 143t 1434 14% 14%
406 BostonCon C&G (rets) £1 1034
14 7S 15
15%
11%
Apr
25
NOV
22*8
Jan
2
173s
Feb
2o
Bos&CorbCop&SIlMg
5
34 18
183. *17
35
*
1834 1834
18
30 Aug
15% Jan
28
May 8
3,8 Feb 24
24% 24% 24
24% 4.0U Butte Coalition...............15 21
25% 2558 2434
93 Feb 130 Aug
96% May 3 no Jan
Calumet
&
A
rizon
a..
10
10
2
260
103
105
1031105
105 106
t665 Mcli 700 Jan
585 Feb 26 680 Jan
640 645
630
38 Calumet & H ecla------ ^6
640
650 1
640 640
3634 N ov
21 Feb
3 5 % J ’n e ll
29 Feb
345 C e n t e n n ia l- ...- - ------ 25
% 30% 30% *30
31
*301- 31% 30%
.25 Mch ,45 J ’no
.10
J ’nc26 .35 *■an 16
Cons
Mercur
G
o
l
d
.
.
.
.
1
.15
200
.
.11
.15
.15
+.11
+.11
65% Feb
8378 NOV
84
(2 J ’nclO
08%
Feb
2u
Copper
Range
Con
Co
100
1,642
1?
80% 81% 7934 SO
8173 81
81
7 Jan
117* Nov
12
Mob 19
7% May2s
65 Daly-W est.......................20
8
8
% *3
S%
*8
*734 81
8*4 Dec
10 Deo
16*8 Apr 2 0
71Feb
1
East
Butte
Cop
M
in
..
10
1,477
% 12
12 %
12
12 %
12
12 14 12%
234 N ov
99 Mch
2 % Jail 16
1
%
Apr
17
Elm River....................... 1 2
Last Salt l7s
*11* liJune’09
18% J ’n e ll
6 % Apr
19*- Nov
13 Feb 25
161F
'a
n
k
lln
-----*
•
*
>
535
17%
I
4
171,
17%
17%
17%
8*4 J’ly 91
733
J
’ne
10
iroux
Conso
dated.
0
3
S
8
%
83{
S3,
734
8*8
734 773
I
80 Jan 1 10 J ’ly
110 Jan 1
10 0
16 Granby Consolidated. 100 00 Feb 20
10 0
10 0
10 0
102 1
* ___ 10ll2
078 Jan
13% Aug
12 3 4 Jail 2
9 Feb 2v
978
10
10
97S 3,728 1 eeno Cananea------ - 20
97j 1 0 % 10
1 2 % J ’ne 10
9
1
J
’m
29
Hancock
Consolidated
25
___
170
.
10 % 11
10 % '1011 *9's
1734
Feb
3
3
1
.
Feb
It
26%
Jan
22%
Apr
27
24
200 Isle Royalc (C opper). 25
% 25
25
24
25%
25% 251
81 May 12
7 1 - Apr 30
50 Kerr Lake----------------7% 77a —
*7% 773 *738
10 Sep
101,
J
’no
k
24%
Deo
10
“
Jan
30
Lake
Copper---------------2
5
20%
2,175
21
21
21%
21
22
12% Jan
17*4 Jan
II J ’lv 9 163, Feb ■«
11
% 12
12
96. La Sa le Copper-------- 25
12
12 % 12 % ; 12%
2% Mch
83S Aug
4% Mch 18 18% Ma; 28
610
Mass
Consol------------------25
*8
%
8
81
8
%
8
%
81
8%
.25 Jan
.75 J’ly
J’ly
200 M ayflow er-------- 25 .30 Apr 29 .70
.00 .60 *.5047g 7S * .5043., .7043 * .50433 . 60
5 % Maylo
3 1 - Dec
8 Jan
3 1 - Apr 16
630 Mexico Cons M & S - - 10
47., 478
4*8
l „ 78 J ’ne 15
834 Sep
16% Deo
123,
Feb
26
125
Miami
Copper-----------»
15%
157
*15*8
10
15*8 15%
*15-3
1 3 % Mch 4
7%
Feb
15%
Nov
93.,
May20
34 10
10
325 M ichigan--------------------- *;;>
10
10
*10 10% *10
45 Feb
73 N ov
59 Feb 1 7 0 % Jan "
64
64
184 Mohawk_______ - - - - 631- 61%
65
66
65
.40 Apr
■27 Dec
1*8
Jan
19
Fob
11
___
Montana
Consol
C
«
C
10
Last
Sal
.20 July’09
.30 *.20
*.2 0
21% J ’ne2l | 833 Jan
203., Nov
7S
23% 23*
23%
23% 23% 1,493 Nevada Consolidated. 5 16% Feb 20
2333 24
6 Jan
'
43g Oct
8 May
1 % J ’no26
o
Last Sal 134
*13,
Juiy’09 ___ Newhouse Mines & S . 10
86 % Ja.’.
*1%
4034 Feb
8934 N ov
50
J’ly
0
50
22,748
North
B
utte------------15
>%
521.,
541
543,
52%
543i 50%
10% May 12
4% Mcl)22
1
834 87
464 North Lake ($8 p a id ). 25
8 *a
8*8
83t 83, *873
.05
May
4
.50
Jan
1
J ’ly
.40 J ’n e -l
. . .60 .60 *.50
110 Old Colony.................. 25
*1* % ___
■.8% Jan 2
60 % Deo
28 Jan
47% Feb 24
52
480 Old Dom inion------------25
53
53
52
54
54
54
77 Feb 135% Deo
122 Feb 20 140 J ’no 8
132 1321 , 132
235 O s ce o la .........................25
132
132
*132
36
%
J’ncio
31%
Deo
10% Jan
i34
30% 301
30
810 Parrott (Silver & Cop) 10 26 Feb l
301,8
30%
31
31
77 Feb 100 A u g
85 Feb 1 99 Jan 4
1
89
89
*89
65 "“ulncy______________ 25
89%
90% *89
90
27g Jan 8
1*8
Apr
3»J
N ov
■2
Feb
25
200 -anta Fe (Gold & Cop) 10
2%
2%
21
2
2
2%
* 2%
l778 Jan 4
2%
19% NoV
9*4 Feb
13% Feb 26
5% 15% 151 1 147j
999 S h a n n o n ------------------- 10
15
15% 15% 15
46% Mch 1
14
Apr
36%
Nov
34
Jan
6
*4014
411
,
40
350 Superior_____________ 25
40
*41
41
41
18% Vfav28
14 Mch24
1534 1,708 Supertor&Boston Min 10
5% 15% 1512 15
15% 15% 15%
1 8 % J’ly 6
20% NOV
H's Oct
127S
Apr
27
5g
16%
103
11,754
Supcrlor&PItts
C
op
p.
10
1
157a
10
17
17
181
60 Mch
88 N ov
60 Apr 27 90 Feb 26
)
Last S'h 70
t
rune’09 ___ T a m a ra ck ____________ 25
70 *
12% Feb
26 Aug
17*8 Jan 23
101- .Fnc21
1 1 % 1 U2 * 1 1
12
02 Trinity...........................25
103,
12' 12
16 % Jan 8
45s Mch
16% Nov
g% J ’n e22
*c3
)
1
1
0
10
10
ion
United
Copper______
100
+10
10% * 10 %
34%
J
’neli
3u34 N ov
9
Mch
28
Jan
12
“ 32
321
31% 3134
65j United StatesCoal&OIl 26
*8 2 14 33
33
28 Mch
78 May: 4
467s NOV
4,871 U S Smelt Ref & M in. 50 39 Feb 25 6U
49
483, 493, 487S )% 487„ 491 , 483,
60 May24
37 Feb
47 Nov
44 Jan 8
)1- 49:% 4938 493,8 491- 4,036
Do pref____________ 50
48% 4934 4938
43$ Sep
034 Jan 26
Nov
4 1 - J ’ne28
17g
47S 478
4-8
434 2,8 r5 Utah-Apex Mining—
5
473
4-3 5
29% Jan
Aug
4034 Ja 1
"
934 Utan Consolidated—
5 37% Feb 24
23a
42% 4212 41% 42
42
42% 42%
2878 May
63
May
Nov
3934
Feb
26
1
48
48%
55
Utah
Copper
C
o-------10
3
49% 49
49
49% 49
2%
Apr
6%
May
6
Nov
3*8Jon (>
4%
Last Sa < 4 %
June’09 ___ V ictoria ________________ 25
*4
4% *4
6% Jan 2
4% Jan
f734Nov
434 Apr 30
5
275 W in o n a ........................... 201
5
5
5% *5
6
5
116%
Jan
152
Jan
2
155
Nov
139
Mcli
18
*148
151
20 W olverlno____________ 25
)
148 150
*149 152 *149
33*------Oct J-n- ■l.
.60
2%
2*8
234
-----IUU .......................25'
-------------“ m
—
, Apr
r --23
■ -----------------------275 W yandot
*23i 3
2% *2", 3
2%
a
Ass’
t
paid.
6
Ex-stock
dlv.
/»
Ex-rights,
a
E
x-dlv.
and
rightB.lj
Lle’ ore pay 5 of assess ts called In 1909. • Bid and asked prices, d iNew stock.
116 117% 110% 117%
*1011- 1051 104% 1041228 228
230 230
130 130
130 130
Last Salt
*___ 225
150 150 ’
149 150
exch an ge
closed
—
ex tra
h o l id a y
1153d H578
*104% l()5's
231 231
129 130
* ___ 228
148 150
__
__
J u l y 10 1909.1
Boston Bond Record
IH/,% H r
BOSTON STOCK EXCH'GK
W kkk knui.nu J uly 0
B r ic e
F r id a y
J u ly 9
Ilia
W eek 's
R ange or
L a st N ale
A sic L ow
94 78
Am Telep cfe Tel coll tr 48.192V j . j
96 Sale
Convertible 4 a .. ........... 199" M-s
104 H,105
Am Writ Paper 1st a I 6 .su 1919 j . j
Ariz Com Cop 1at conv Oa 19 18 M-S
Aten T o o * S Fe gen g 4a.. 1995 A-O 101 101 =
Adjustment g 4 s ....J 'ly 1995 Nov
93
05
Stam ped...............J ’ly 1995 .I!-!;
03
95
60-year conv 4a............1956 j-D
10-yoar conv 5a ..........1917 J-L) 115*2........
A tl Quit cfc W l 8 S lanes 5a.’59 j j
73 Hale
Boston Filed L Consol 5a. 1924 M-S
Boaton cfc Lowell 4a.......... 1919 j . j
Boaton <c Alaine4Hi*........ 1944 j . j
Boaton Terminal lat 3*aa.1947 jr.A
BurcfcAtoKiv ex Oa.......... 1918 J-J
Non-exempt 9a............... 1918 j . j
Sinking fund 4s............. 1910 j . j
Bntte cfc Boston 1st 8 a___1917 a -0
Oedar Rap cfc Wo It 1st 7a.1918 ivi-N
Hit 7 a ................................. 1909 J-U
Cent Vermt 1st g4 s..W a yl9 2 0 y-F
90 Hi Sale
0 B cfc Q Iowa 1 1 1 v 1st 68.1919 A-O
Iowa lliv ist 4 a ............. 1919 A-O
Debenture 6 a................... 1913 M-N
Denver Exton 4s............1922 F-A
Nebraska E xtcn 4 a .......1927 .Vl-N
B <& S W a t 4a................. 1921 M-s
Illinois D i v a n s .............. 1949 J .J
Joint bonds S ee Ot Northern
Jhio J c Ity cfe Stk Yds 6 a . 1915 j . J 103 Sale
Coll trust refunding g 4 s l 9 4 u A -o
92
Oil Mil & St I* Dub 1) 6 s .. 1920 J . j
Oh M cfe St T Wia V div Oal 920 J . j
Chic ct No Alien 1st gu 6 s .1931 ,v1-N 192
Ohio cfc W Allcli gen 6 a___1921 J-D 104
Concord cfc Wont eons 4a.. 1920 J -I)
Conn <fc Pass R lat g 4 s .. r. 4 a - 6
Current n iv er 1st 6 s ........ i, 2 A-O
D etG r Hup cfc W 1st 4 s ... 1946 *A-o
Dominion Coal 1st s f 5s. 1940 .VI-N
8*11011 burg 4 s .......................i 9 io vi.s
4 s ...................................... 192', .u.s
Freni t Elkcfe Mo V 1st Oa.,1933 A-O
Unstamped 1st 6 s.......... 1 9 3 3 a -O
Qt Nor O 11 >1 tj coll tr 4s 1921 j - J
98Hi Sale
Registered 4 a................... ^ , 2 1 y..j
98*a .....
N o nr
-H igh
l»
BOSTON STOCK KXOH ’ OE
W kkic E nding J uly 9
Range
S in c e
J a n u ary
L ow
B r ic e
F r id a y
J u ly y
Hmh
9o
91=4 96*4
105
105
92*4 196
83 Mar’O
83
83
190 May’09
130 190
I 0 1 **8 1 0 1 A
too 1 0 1 *-,
9 2 ’c, J’ ue’09
92**8 94 °8
937e Mar’O
<13*8 94*
114*4 J ’iie’09
1 0 2 *j 109 tm
111 *8 May’09
197*« 111*.
72 Si
73*4 lu:
59
73*,
110
Feb’04
10 0 *4 AIar’09
10 0 * 4 i b o *4
104*-j Oct ’08
U2*a Jan >03
10 4
Oct ’07
102 Sep ’05
99*8 Jan ’09
99 Hi 99*.
10 0
J’ne ’ 0 1
117 J ’ue’08
111 *8 J ’ly ’05
90*a
90*4
81
90H11103 Oct ’ 07
100*8 Aliir’Oii
. 00 >0 10*7*0
100 A p r’oij
U9*g j ’ne 09
99^ 10(7'
m l t, 102
10 2
Alay’09
98®8 F eb ’09
98=s 9 =0
91*8 92
91*8 T’ne’09
103
103
92 J ’ne’09
118*4 F eb ’09
120 F ob’05
10134 Apr ’09
105*4 May’09
91 Dec ’07
1 1 2 * 4 -Ian ’03
96 F eb ’09
92*a J ’ne'09
91 Nov’08
103*8 Api ’05
96 A p r’Or
133 Mar’OO
140 A p r’05
98*4
98*.
97 6s J ’no’09
97
6 1 IA
Illinois Steel deben 5 s ....1910 j . j
N on-convert deben 6a...1913 A-O
la FallScfcsioux C la t7 a ..l9 1 7 A-O
Kan C Clin cfc Snr 1st 5 s... 1926 A-O
Kan C Ft Scfc Gulf ext 5a.. 1911 j-D
Kan C Ft Scott <fc At 6 s....1 92 8 M-N
Kan O At cfe B gen 4s..........1934 M-S
Assented income 5a.......1934 M-S
Kan C cfe AI Ry<fc Br 1st 5sl929 A-O
Maine Cent cons 1st 7 s ...1912 A-O
Cons 1st 4 s ......................1912 A-O
Maro Hough cfe Ont istOa.1925 A-O
At ass a as 4 *ss (recta).......1929
..
-Mexican Central cons 4 s..191] J . j
1st cons mo 3s.......... Janj.939 J ’ly
2d cons inc 3s.......... Jan 1939 j ’ly
'Itch ie le p ls t 5s...............1917 J -J
Minne Gen Elec con g 5s 1929 J.J
New E ng Cot Yarn 5 s ....1929 F-A
New Eng Teloph 6 s.......... 1915 A-O
fi8 - - - ................................. 1916 A-O
-sew England cons g 5 s... 1940 J-J
Boston Term 1st 4s.......1939 A-O
N l A H cfe Ii con deb 3 * 3 8 19 5 6 j . j
Conv deb 6 s (c t fa )........ 1948 j . j
Old Colony gold 4 a .......... 1924 F-A
o re g R y efc Nav con g 4 s.,1 9 4 6 J-D
Oreg Sli Dine 1st g 6 3 ....... 1922 F-A
Repub Valley 1st a f 6 s...1919 J-J
102 103*4 Rutland 1st con gen 4*as.l941 j . j
91
94
Rutland-Canadian Iat4al949 J-J
118*4 118*4 ■■'avail nah Elec 1st cons 5a. 1952 J - J
Seattle Elec 1st g 5s........ 1930 F-A
101 103H, ic r r e Haute Elec g 6 a___1929 J _1
192 100
i'orrington 1st g 5s.......... 1918 M-s
Umoil t’ac It R cfc 1gr g 4s 1947 J - j
29-year eon v 4a................1 9 2 7 J .J
‘ ill]” ‘ lib " oniteu Fruit g e n s t4 * ,a .l9 ..3 J .J
87
92 Hi U S Coal cfe Oil 1st a f 6 s .. 1938 (VI N
U S steel Corp 19-69yr 6e.l9 63 ,M-N
West End Street R.v 4s___1915 F-A
Gold 4*as........................... H )i 4 m - s
33 133
Gobi d eoen u ire4s.......... 1916 M-N’
Gold 4s.............................. 1917 F-A
97*3 99
" eateru Telepli cfe Tel o s .1932 J-J
97*8 98*3 Wisconsin Cent 1st gen 4sl949 J-J
Buyer pays accrued intereat In addition to the purchase price for all Boston Bonds.
Bui
ash
W etK 's
R ange or
L a s t’ s a l e ^
LOW
R ange
s in c e
J a n u a ry l
O\
tiliiii
100 ........ loo*, Mar’09
1007a Sale 199=4 100*0
........ 129
117 A p r’0»
................... i'll*. Muy’ 09
191
191
ilOHi 129 119=4 J ’ne’O'J
93
93
’90Q
>9=4 J ’ ne’99
104 ........ 1114 J’n ooy
. . . . . . . . . . . 113=0 N ov’Od
................... 191*4 Sep ’ 9 5
.\o
L ow
H ig h
100*4 100=4
09*« 101 Hi
ti
94
96*4
i 199*2 191
116*4 120*4
4 HO
93
8 6 B 90
103*4 104
...................
190
24 98*4 100
-86
AIar’ 99
84=0 8 6
................... 116 A p r ’9>
................... Hl5 M A p r’o .. . .
1 0 2 Hj Ait^’ U4
i o T " i o i 7 104*4 104 2
102*t 104=4
193 F e b ’ 9 "
192 102
109*2 S e p ’ 9b
........
...... ......
99=4
................... 197 78 May’ 9 9
97=0 1077,
.............. . 138 J’ UU’99
134 138
. . . . . . . . . . . . 191 A p r ’09
101 191
'.96*4 J ’l y ’9b
1 1 8 70 1 19*t
................... 11870 -Mm ’99
105 D e c’Ob
................... 197*2 Nov’96
.... 192 M ai’92
................... 98*2 Alay’96
106 19V 196 J ’no’i.'9
i05 *8 106*4
. . . . . . . . . . . . 97 A p r ’oi
........ ..
9 9 *2 Nov’96
................... 192=0 Apl ’99
192*4 193*4
1 lOHi J’ne’uU
ID .5* 1 1 0 *i
96=8 Bale
96=h
9o=0 7 95=8 97
149 J ’nC'99
120 141
i ’05=4 SaYJ 195=4 loO
9 102*4 196
................... 190*2 A p r ’o9
190 Hi 190*1
. . . . . . . . . . . 10 1= 4 J ’ne’99
199*4 102 k
190 Hi Apr ’99
199 Hi 100H
0(1=8 A p r’ov
LOO*, 190=,
9 9 Hi Sale987h
09*2 14 96
99*i
93 78 95 H
................... 1 95 *s A p r’O"
* No prioe Friday: latest, bio ami s.saed
Fiat price.
Philadelphia and Baltimore Stock Exchanges—Stock Record, Daily, Weekly, Yearly
S h a re I‘ rices —Not I’ o r Centum P rices
S a tu r d a y
J u ly 3
A lo n a a y
J u ly 5
Uu e s a a y
J u ly G
104
*18
*37
11
104
.......
49
11
*45
41**
* 1 2 *i
29*3
62=8
46*3
41*4
1 2 =,
21
62=,
23=4 23=4
103*3 193
89
80*.
08*18 6 8 =B
4 1 '4 4 2 *4
H 7» l l 7s
28-'-„ 28<V
78*4 79=18
*46*3........
*69
61
*52*a 53
83
88
I’ l l I l.A D K I.i’ l 11 \
In a ctive S lo c k s
Allegheny Vul p re f....5 0
American Cement....... 60
Amor Pipe Alfg........ 1 0 0
Bell Telephone (Pa). 100
Cambria Iron ................ 60
Central Coal cfc Coke. 100
C onsolT raoof N J . . . 1 0 0
Diamond State Steel.. 10
P referred ................... lb
Easton Con Electric 5.60
Eleo Storage Bate. . . . 1 0 0
Preferred.................100
Ft Wayne cfc W V.......1U0
Germantown Pass.......60
Indianapolis St.......... 100
Indiana Union T r ___100
Insurance Co ol N A .. 10
Inter Sm Pow cfc Cliem.OO
Keyatone Telephone ..50
P referred . . . .
50
Keyatone WatcliOaao.'i 00
Lit Brothers............. 1 0
Little Schuylkill . . ” " * 6 0
Mlnehili & Seliuyl 1 1 5 0
N Haven Iron * stoo’l 6
Northern Central........ 5 9
North Pennsylvania ” 5 0
Pennsylvania Salt....... 5 u
Pennsylvania b ie e l..io o
Preterrod.................1 9 9
Phila Co (Puts) pref . . . 5 9
Phii German cfe Norria.50
Phila Traction.............. 5 9
Railways Goueral.......19
Busiiueh Iron •& S teel..5
Tidewater Steel.......... 1 9
P reterred ................... 19
Tonopali M ining of N evl
Union T r of Inn........ 199
United N J HR cfc C .. 199
Unit Trao Puts p rof..50
Warwick Iron cfc S teel.10
Weat Jersey cfe seaS h.50
Westmoreland Coal....50
W ilkes Gaa cfc E lec..lU b
T h u rsd a y
J u ly 3
16 s
1U9
........
16 Hi
67=4
106"
199=4
111)
114*2
42 Hi 43
7 H,
6 7e
8
6*0
" 8 =,' ""«**
02
H,
R a n g e s in c e
Jan 1 W ay
A C TIV E STOCKS
( i\>r B o n d s a n d i n a c t i v e
S to c k s see b e lo w )
lln ltim o re
Con. Gas EL D. cfe Pow.100
41
Do prel................... 190
339 Northern C entral........ 60
190 seaboard (n ow ).............. lo o
Do 2d prer.............lo o
United liy <fe E lectric.. 50
-ti<*» 4 5
41 Hi 41=0
12®» 12=0
21*4 21*4
♦63
63 *v
23
23*4
193=4 103=4
89
89*0
Honda
*1*3*4
S a les
th e
W eek
sh ares
0/
P hiladelph ia
Its American R ailw ays.... 5 9
*45
45 H,
41*4 41H, 1,126 Cambria S te e l............... 5b
60 Electric Co of Americu 19
* 12 « 0 12=4
21
2 1*4
362 Gen Asphalt tr e ft s ___100
21*4 21*4
62*3 63
226
’102=4 63*4
Do p r e ft r e t fa ___199
23*4 23=4
23
23*4 2,235 Bake Superior Corp___100
103*8 193=4
332 Benigh O cfe Nav Sr ctfa. 59
103=4 194
79=4 80H,
2,289 Delilgh V alley............... 59
79 Hi 80
Alarsden Co.................... 1 0 0
68*4 O8 H1 6 h*i0 68*3
6 8 * 3 6 8 7b 1,96b Pennsylvania R R ____ 5 9
*41=4 42*4
42
42
261 Plnladelp’aOo (P ittsb). 5 9
41=4 41=4
U 70 1 1 70
i l 7» lH t
11=4 U 7* 1,19c. Philadelphia E lectric!. 25
28=4 29*.,
29*4 2 1= 6
29
29 *3 4,581 Phila Rapid T r a n s it... 69
78*xa 78=4
777g 78=0
77=8 78li0 16,859 R ead in g......................... 6 9
*40*4 47
♦46M 46=4
Do 1st pref............ 50
*69
61
*49=4 69Hi
Do 2d p ie f.............. 60
63
53*4
63
63
805 Union T ra ctio n ............ 5 9
52=4 53
83
8 8 *0
87Hi 8 8
87*0 8 8
1,40b United ( l i t lrnpt.......... 5 9
42
42
*41
43
19b Welabach Cq .................lo o
45
45
41*3 41*8
*l2*a 12*0
B r ic e s a re a ll “ a n d
i n t e r e s t ."
75*2
Jrnaa y
J u ly 9
*30
40
87
88
104 Hi 194 *, 105 105 *104 105
18*3 18 *1 ........ 18 s *18
19
1 ......... 38
’ ........ 38 7g *37
38
* 11
12
* 1 1 Hi 1 a
* 11 = 4 1 2
P H IL A D E L P H IA
•Bid and naked; no aalea on this day.
W ednesday
J u ly 7
Al Val E ext 7a 1910 A-O
A lt& L V E lec 4 HiS’33.F'-A
AmRya eouvOa 1911.J-D
Atl City 1st 6 a g ’ 19.A1-N
BorgcfcEBrw la t6 s’21 J-J
Betide Steel 6 a 1998.U-F
ChoOcfc Mo la t 6 s 1949 J-J
Ch Ok cfi G geu 5a T9 J-J
Col St Ry lat con 5s 1932
C on T ra cofN J 1st 6 8 . ’ 3 3
E cfe A lat Al 5s 1920 M-N
Elec cfc Peo Tr stk tr ctfs
E(i U G aa-LlatgO a 1928
Indianapolis Ry 4a. 1933
Interstate 4a 1943 F-A
Lehigh N av 4His T4.Q.J
4a g .......1914.Q-F
r
Jf.1924.Q-F
Loll V C 1st Os g ’3 3 ..J-J
Loll V ext 4a la t 1948. J-l>
2d 7s 1910............ M-S
Consol 6a 1923....... J-D
Annuity 6 s ......... j .d
Geu cons 4s 2903.M-N
Leli V Truu eou 4a’35J-l)
Now CouGas 6 a 1948 J.D
Newark Pass con 5s 1 9 3 9
N Y Ph cfe No lat 4a ’39 J J
Incom e 4a 1939...M -N
NoOhioTrac cou6a’ 19.JM
Penn geu 6 a 1919 . . . Var
Consol os 1919.......Var
Penn & Aid Steel cou 6 s
Pa cfc NY' Can 5a '39.A-O
Con 4a 1939............A-O
Penu Steel la t 6 a T 7 M-N
People’s Tr tr certs 4a ’43
P Co latcfe col tr 6s’49 AI-S
Ooiicfc col tr Oa 1951AI-N
Phil Elec gold truat ctfs
Truat certifa 4s..........
P <fe E gen Al 6 g ’ 2 0 .A-tj
Gen AI 4 sg l9 2 0 ..A cfeo
flEx-rights.
B id
ASK
IT IM cA D K m T IlA
Ph cfe Read 2d 5a ’33. A-O
Cou M 7a 11*11.......J-D
Ex Imp M 4a g ’47. A-O
191*2
Terminal 5s g 1941.Q-F
97*2 P \V cfe B col tr 4 a ’ 21.J-J
Portland R y 1st 6 a I960.
Rocli Rycfe L e o n 6 a ’54J-J
Spanish-Am I r 6 s ’27 J-.l
117 U S '
U True 1ml g e n 5 sT 9 .J -j
112*0
Un Uys T r ells 4s’49JcfcJ
106=0 iuii'
United Rya In v la tco lltr
a l ua 1926............... M-N
io5*
U Trao Pit Kon 6a ’97 JM
Welabach « f Oa 1930.J-D
‘ 9 3 " 93*4 Wlka - 11 ticfeE couOa’oOJ -J
107
U A E T liU O R E
ln n ctiv o S tock *
Ala Cous Coahfe Iron. 190
P r e f .............................. loo
A tla n ta * Charlotte..190
105 ’v
Atlan Coast L (Conn)lOO
110
Canton Co...................100
197
Cons Cot Duck Corp. ..50
193*4 ib*3*
P r e f e r t i i ................... 00
Georgia S o u * F-U-.-lOO
i ’4 9”
1 st p rof.....................1 0 0
97
97 H,
2 d pref...................... 1 0 0
68
08H, G-B-S B rew ing.......... 100
Honda
100*2
B id
L ow est
30 Mar b
76 M arie
199 Jan 4
11=4 F e b 25
22=4 Feb24
9=4 Feb 3
A n a co stia * Pot 5s..........
Atl * Ch ext 4 H,s TO.J.J
Atlau C i, UR481962M-S
A tl Coast L(Ct)ctfa oa J-D
Ctfa of iudobt 4 s.. ..J-J
6 -2 0 yr 4s 1925........ J-J
Balt c Pass la t 6 a T 1 Al-N
Balt Fumtg 5a.1916 AI-N
08
Exchange 3 >28 1939 J-J
194
B a lt* P la t 6 a m l ’ l l A-O
9/
Balt Trao 1st 6a.. ’29 M-N
192 102 *4
No Balt l'i v 5a 1942 J-D
75=4 76
Uent’ l R ycon5al932 M-N
E x t * Imp oa.1932 M-S
Cliaa C ltylty lst5 a ’23 J -.1
II $7.50 paid, t 8 1 2 * 4 paid. 1 $ 13 '2 paid. } $ 3 5 paid.
)
42 Hi May,
89 May iS
i l l Jan 1
21*8 J’noU
41 Ala>l
12*» J’ueiR
29
05
bO
4
19
19
H ig h e s t
Jan 39 Deo
Alai 81*2 Deo
Jan 192 Deo
Feo lb Deo
Feb 26 Deo
Jan 12 N 0 1
-14=0J ’ly 8
32 70 Feb23
x 10 78 Ja n 211
15 *c Jan 9
46=4 Feb lb 42=4 Mai 46 Hi N 0 1
4 3 ’g J’ne 3 267s Feb 49 Hi Deo
12=4 Mar2 9
8 *2 Jail
11*4 Deo
25=4 Feb i9
3H; Jan 19=g Deo
53 Jau 6 66*0 bob 1 : 19 70 j an 59*u Deo
14=4 Jan 6 33'sAlay *
3*0 Feb 17 Dee
96 Jan 6 112 Hi Apr 3o 78*4 Jan 97=0 Dec
67 F *b23 81 Hi J ’nevs 62=0 F’eb 76=4 Dee
1 Hi May 0
2 *0 1 an r.
lei 0 Jan
2 70 Apr
63** Feb 24 '>Uu ioM ay 4 54**i0 Jan OH*!* Deo
4 9 Hi Feb 24 43Hi .day 4 34 Hj Mai 44=4 Deo
11*4 Fob 23 12=0 May I
5*a Feb 13*8 Not
2470 Jau 5 36 ’u Api 2* 112 *8 J’ ut 25 Hi Deo
69 Hi F e b 23 79**18 May21 40=40 Feb 'l u ieD eo
44 Alar 8 46 J an . 39 wan 45 H, Deo
45 *10 Mar 2 52 Atayl.
37 Hi Jan 48 Hi Deo
50*0Jau 5 5 8 7aAlay 4 44H, J ’ne 06*4 Apr
84=8 Slay 13 94*8 Web 0 73*8 Jau 94=4 Dee
28 Alar2 6 42 J ’ly , 25 J ’ne 28 N ot
A 8 ft
ilA E T I JID lf v.
I95=t 103=4 Chari Ccfc A ext 6a.’09 J-J
.........
2d 7a............... 1919 A-O
129
City cfe Sub lal 6 s. . ’22 J-D
99 s,
City cfc Sub(W aa)l8t5s’48
. . . . . . Coal <fc t Ry i at 5a ’ 20F.A
. . . . . . »8*c CoicfeUruv lat6a.l016J-J
10 2
I82>a C'ohaol Gaa 6 s ...1919 J-D
5s................. ..1939 J-D
78
79
Gu cfc Ala i s icon 5a ’45 J-J
(Ja (Jar & rsr 1st 5s g
J -J
80*2 81
Georgia P le t 6 s .. . ’22 J -J
B id
A sk
91
10 2
..
8 4',
lU0*2 1 0 1 s
......
70
284
99
•
23
39
94
75
2
96
7
25
96
89
5
B r ic e s a re a l l “ a n d
in t e r e s t ."
102 >0
199*2
n a n g e /or B r e v io u t
h e a r CHIOS)
103*i 103=4
.........
95*4 95*2
__
83*2 84H
89*4 90
191k
.........
28H. 99*2
.......... 104
.........
113
i 15
......... .........
G-B-S Brew 3-4s 1961M-S
2d income 5s 1051 M-N
Knoxv Trao 1at 6 s ’28A-0
EakeR El 1st guu.s’42Al-S
AlacoD HyAjijtlsiOs'DJjJ-J
.Memphis St 1st 5s’ 45 J-J
Al etst( Wash)] at5a’25 F A
Alt Ver Cot Duck lat o s .
N pt N cfeu P 1st 6s’38 M-N
General 5 s....1941 M-S
Norfolk St lat 5 b ’-14..J-J
Nortli Cent 4 Haa1925 A-O
Scries A 5s 1926___J -J
Series B 5s 1926___J-J
Pitt Un Trac 5s 1997. J-J
Poto Val lat 6 a 1941..JM
Sav Fla cfc West 5a’34 A-O
Seaboard A L 4s 1950 A-O
Scab cfc Roan 6 a 1926.J J
South Bound lat 6 a..A-O
U El L A P lat 4 *as’ 29 M-N
Un Ry cfc El lat 4a ’49 M-S
incom e 4a 1949.......J-D
Funding 6 a 1936...J-D
Vu Mid 2d aer Oa ’ ll.M -S
3d aenea 6 a 1916..AI-S
4th aer 3-4-5s 1921. M-S
oth aeries 5s 1926.M-S
Va (State) 3a new ’32.J-J
Fund debt 2-3a 1991. J J
West N C con 6 a 1914 JM
WeaVa CAP la t 6 g’ U J-J
WU * Weld 58..1D35.J-J
10 8
104*2
(U
109
191*4
1
111* 2
106
18 6
119
109
105
1 0 2 ><
n o1
1 0 1 *i
111=4
106*1
107
43
11
15 '
96
98*1
81
96
81 ^
97
195
107*1
112
112
8 8 H. 89
10 b
108*2
196 108
92=4 93*4
86=4 87
57
67Js
82 *2 82*4
1 0 2 Hi lbs
113 U 8 *i
« Receipts. 6 J23 paid. c$80paiiL d$12Hipaidl
[VOL. LXXXIX
THE CHRONICLE
98
S w u e s tr a e n t a n d
R A IL R O A D
jE a ilto a d
GROSS
T h e f o llo w i n g t a b l e s h o w s t h e g r o s s e a r n in g s o f e v e r y S T E A M
ra n b e o b ta in e d .
EARNINGS.
r a ilr o a d f r o m w h ic h r e g u la r w e e k ly o r m o n t h l y r e t u r n s
T h e first t w o c o lu m n s o f fig u re s g i v e t h e g r o s s e a r n in g s f o r t h e i a t e s t w e e k o r m o n t h , a n d t h e la s t t w o
c o l u m n s t h e e a r n in g s f o r t h e p e r io d f r o m
July 1
t o a n d in c l u d in g s u c h l a t e s t w e e k o r m o n t h .
s t a t e m e n t t o s h o w t h e fiscal y e a r t o t a l s o f t h o s e r o a d s w h o s e fisc a l
p e r io d .
I n t e lU q c n c e .
W e a d d a s u p p le m e n ta r y
y e a r d o e s n o t b e g in w i t h J u l y , b u t c o v e r s s o m e o th e r
T h e r e tu r n s o f the street r a i l w a y s are b r ou g h t togeth er s e p a r a t e l y o n a s u b s e q u e n t p a g e .
L a test G ro s s E a r n in g s .
W eek o r
M o n th .
noADS.
C u rren t
Y ear.
P rev io u s
Y ear.
C u rren t
Y ear.
W eek or
M o n th .
HOADS.
P r e v io u s
Y ear.
Ala N O & Tex Pac
45.000 2,998,755 2,846,674
47.000
N O & N R a s t ... 3 (l wk J une
24.000 1,518,091 1,498,214
20.000
Ala & V lcksb— r 3d wk June
21.000 1,355,315 1,429,943
19.000
Vicks Sh & P a c.r 3d wk June
57,668
3,377
4,339
42,112
M
a
v
__—
Ala Tenn & North
k Atch Top & S Fc_ May _____ 3,050,274 6,715.415 36,163,215 34,287,178
40,370 2,068,426 1,583,305
47,503
Atlanta Blrm & Atl 4th wkjune
Atlantic Coast Line May _____ 2,152,584 1,950,338 24,111,047 24,100,080
Baltimore & O h lo .. M a y _____ 5,931,066 5,092,494 64,831,438 68,172,530
204,084 2,654,734 2,437,434
200,762
Bangor & Aroostook May _____
6,009
66,411
61,836
5,060
Belletonte C entral-. J u n e _____
Boston & M aine. . . r M a y _____ 3,339,937 2,008,073 36,079,825 35,045,140
43.910
3,511
40.734
3,646
Bridgeton & Saco R May _____
165,866 7,207,863 7,450,786
Butt Koch & l ’ lttsb 4th wkJune 241,354
149,300 2,094,398 1,925,618
185,938
M a y _____
Buffalo & Susq—
218,700 9,668,900 9,012,400
' Canadian Northern . 4thw kJunc 260,600
Canadian Pacific— 4th wkJunc 1,971,000 1,777,000 76,117,167 71,280,334
254,600 11,145,877 11,383,012
Central ot Georgia- 4th wkJunc 228,900
Central of New Jers M a y _____ 2,000,890 2.280,160 23,415,038 24,922,887
254,546 2,908,509 2,852,432
292.797
Central V erm ont-_r A pril_____
77,019
1,701
101,090
1,298
Chattanooga South. 2d wk June
589,516 26,585,769 25,843,273
Chesapeake & Ohio 4th wkJunc 756,119
47,830
4,964
55,041
4,616
Chesterfield & Lane April_____
233,488 12.518.845 12,101,685
202,889
Chicago & Alton R y ltn w kjun e
Cldc Burl & Quincyr M a y _____ 6,139,751 5,567,592 72,185,863 72,004,807
8,120.330
200,840
8,010,910
Chicago Great West 1th wkJunc 207,393
125,114 5,314,286 5,102,828
140,786
Chic Ind & I.oulsv. 4th wkJunc
Ohlc Ind & Southern — See New York Cen tral.
Chic MUw & St Paul May ____ 4,566,233 4,127,133 54,012,827 52,541,355
58,409,825
Chic <& Nor W e s t-.r M a y ------ - 5,274,382 4,459,130 00,306,034
900,939 12,380,012 11,933,410
Chic St P M & O -.r M a y -------- 1,011,254
77,523 1,000,133 1,009,436
97,186
Chic Term TransRR M a y _____
541,056 7,254,619 7,350,726
651,715
Cln Ham & D a y t.r M a y _____
TVTAiir York Cen tral.
Ciev Cln Chic & St L — See New
164,432 2,123,740 2,035,798
194,091
Colorado M idland.r May —
342,482 15.072,707 14,283,132
A Colorado & South. 4th wkJune 350,239
262,475
16,513
200,717
18,059
Colum Newb & Lau May -------625,101
56,432
609,249
55,066
A p ril..........
Copper R a n g e ..
95,645
4,085
112,956
9,539
C o rn w a ll__________ May _____
273,418
21,108
206,688
26,831
Cornwall & L cban.r A p ril_____
1,900,401
173,515
1,898,001
193,540
Cuba R ailroad------ M a y -------17.252.845 .6,037,336
I Delaware <5; H u d . M a y _____ 1,721,789 1,464,284 30,670,483
30,620,200
p e l Lack & W est.r M a y -------- 2,819,060 2,955,361
526,100 20,840,804 20,308,03?
581,700
P env & R io Grande 4 th w kjune
27,054 1,476,415 1,587,482
28,181
Det Tol & Iront Sys 3d wk June
_____
35,086 1,679.234 1.837.190
37,240
A nn A rbor---------- 3d wk June
30,897 1,147,940' 1,184,235
31,017
Detroit & Mackinac 4th wkJunc
160,328 5,708,885) 0,647,768
723,873
ul
& Iron R an ge.r M a y _____
Eul Sou Shore & Atl 4th w kjune 87,174 65.325 2,730,005 2,028,331
632,252 496,674 0,645,002 7,034,666
JE1 Paso & So W es.r M a y ____
3,851,252
45,670,370
E r i e _______________ M a y ____ 4,209,728 land Syst 40,243,297
em.
Evansville & Terre Haute— See R ock Is
18,577
1,524
17,690
1,642
Fairchild & N E . . . M a y _____
704,134
61.326
713,853
71,396
Fonda Johns & Glov May . . . —
2.571.853
195.755
,732,087
159,623
May
_____
Georgia Railroad . .
Georgia South <S>Fla — See Sout hern Rail way.
1.184.808 39,157,376 41,455.034
Grand Trunk S y s t .. 4th wkJune 1,195,366
103,681 5,410,699 5,739,409
Gr Trunk W e s t .. 3d wk June 123,901
27,349 1,626,254 1,653,020
40,883
D ot Gr Hav & MU 3d w k June
35,965 1,745,797 1,890,327
38.976
Canada A tlantic- 3d wk June
53,542,404 54,392,488
3,057,182
4,637,753
J
u
n
e
-------Great Northern Syst
123,476 1,732,805 1,939,965
150,525
Gulf & Ship Island. May -------303,606 5,409,396 5,393,142
396,278
H ocking V alley------ M a y -------4,360,933 57,180,300 57,996,728
Illinois C entral.— J u n e _____ 4,553,482
173,500 8,065,953 6,922,545
Internal & Gt N or. 4th wk.Tune 177.000
185,076 6,762,009 7,701,100
202,308
a Intcroceanic Mex 4 th wk.Tune
04,244 3,006,505 3,002,475
70,939
1th
wkJune
Iow a Central— . . .
175,835 125,314 1,971,720 1,845,498
Kanawha & M lch .. M a y _____
590,276 8,140,513 8,281,807
770,137
Kansa3 City S outh. M a y -------12,224 1,301,727
854,889
27,400
K C Mex & Orient- . 3d wk June
Lake Erie & W est’n — See New York Cen tral.
tral.
York
Cen
■See
New
Lake Shore & M Sou
May . . . . . 2,830,346 ,982,167 30,211 292 32,443,535
Lehigh Valley—
376,260
33,044
462,868
36,627
May ------Lexington & East
D e c . 12 2,680
D e c . 20 ,325
May
------Long Island-------02,260 1,093,989 I ,
98,580
Louisiana «j Arkan. May _____
939,522
71,260
916.686
85,205
Louisv Hend & St L May -------44,020,282
Louisville & N ashv. 4th wkJunc 1,037,040 1,003,352 45,408,489
125,082
138,598
9,330
9,741
Macon & BirmLng’m May
637,822 7,582,415 7,826,210
689,899
Maine C en tra l------ r May
47,311
6,235
80.651
4,477
Manistlquc----------- June
348,217
853,627
31,417
33,733
Maryland & P e n n .. M a y -------6,949,998
8,281,566
179,996
179,428
4th
w
kjune
a Mexican Intem at
128.200 6,912,500 7.842.000
« Mexican R ailw ay. 3d wk June 142,800
24,151 1,202,294 1,238.490
28,332
a Mexican Southern 3d wk June
al.
ork
Centr
See
New
Y
Michigan Central—
821,832
20,671
804,762
20,396
Alineral R ange-------- 4 th w kjune
83.259 4,155,275 3,826,610
105,269
Mlnneap & St Louis 4th v/kJ une
12,464,418 I I , 450,387
252,174
304.816
4th
w
kjun
e
Minn St P & S S M .
23,410,044 21,553,556
Missouri Kan & Tex M a y _____ 1,790.523 1,485,350
44.714.195 12.745.691
Mo Pac & Iron M t .. 4th w kjune 1,282,000 1.229.000
1,656,000 1.405.000
38,000
36.000
4
th
wlcJune
Central B ra n ch ..
46.370.195
T otal system ------ 4th w kjun e 1.318.000 1.267.000 1,503,919 44.240.691
19,926
1,435,085
26,792
bMobllc Jack & K C W k ju n e 26
911,095 804,194 10.224,879 10,022,722
Nashv Chatt & St L May _____
30,480,610 30,584,346
a Nat R ys of Mexico 4 th wkJune 1,251,707 1,124.485
307,048
8,441
338.687
12,784
Nevada-Cal-Oregon 4th wkjune
68,003
4.954
68,570
6,130
Nevada Central------ May _____
July 1 to L a test D a te .
L a te s t G ro s s E a r n in g s .
July 1 to L a test D a te .
C u rr e n t
Y ea r.
|P r e v io u s
Y ear.
C u rr e n t
Y ear.
$
S
83,004.621 82.804.819
38,221,192 38.186,137
Y C & Hud River May _____ 7.417.309
Lake Shore <H‘M S M a y _____ 3,472.216
372.549
Lake Erie & West M a y _____
234,221
Chic Ind & South M a y _____
Michigan Central. M a y _____ 2,164,970
Cleve C C & St L . M a y _____ 2,130,102
219,097
Peoria & Eastern. M a y _____
78,560
Cincinnati North. A l a y _____
Pitts & Lake Erie M a y _____ 1,088,687
261,291
Rutland _______ M a y _____
814,105
N Y Chic & St L . M a y _____
T otal all lines___ M a y _____ 18253113
641,556
N Y Ont & Western M a y -------4,701,766
N Y N 1 U H a rt-.r May
261,679
~
N Y Susq & W e s t .. May
210,705
Norfolk & S o u th ..r May _____
Norfolk & W estern. A l a y _____ 2,521,669
982,065
Northern C entral.. M a y _____
Northern P a cltlc..r M a y _____ 5,451,908
598,422
Pacltlo Coast C o . . . May _____
Pennsylvania C o ..r M a y _____ 3,748.945
U Penn— E of P & E M a y _____ 12032133
Die. 1,18
d W est ot P & E . M a y _____
Pero Marquette------ M a y _____ 1,147,005
Phlta Balt & W ash. M a y _____ 1,547,158
Pitts Clu Chic &StL May _____ 2,335,634
11,409
Raleigh & Southp’ t May _____
Reading Com pany- A l a y _____ 3,235,708
Coal & Iron C o .. M a y _____ 2,545,783
T otal both cos— M a y ____ 5,781,491
227,382
Rich Fred & P o t - .r A l a y ____
76,456
Rio Grande J u n e ... A p r il_____
12,777
Itlo Grande S o u th .. 4th wkJunc
4,740,911
R ock Island System May
2,989,684
St L & San Fran. May
787,822
Chicago (So E 111.. M a y _____
156,892
f E vansv & T e r.. A l a y _____
Total of nil lines. May ____ 8.675.309
114.240
St Jos & Grand Isl. -May _____
St Louis Southwest. 4th w kjune 242,090
097,922
San Pcd LA & S L .r M a y ____
Seaboard Air Line. M a y _____ 1,398,458
81,450
Atlanta & B irm .. A p r il_____
12,730
Florida West Sh. A p ril_____
102,770
Southern In d ia n a .. M a y _____
c Southern Pao C o. May ......... 9,972,593
Southern R a ilw a y .. 4th w kjune 1,181,871
4th' wkJunc 215,900
Mobile & Ohio
an N O & Tex P . 3d wk June 144,885
05,154
Ala Great South. 3d wk June
54,034
Georgia Sou & Fla 4th wkJunc
14,570
Texas Central-------- 3d wk June
Texas & Pacific------ 4th wkJunc 314.241
0,078
Tidewater & W est.r May _____
309,700
Toledo & Ohio Cent M a y _____
Toledo Peor a West 4th wkJunc
27,250
00,913
Toledo St L & West 4th wkjune
7,112
Tom bigbee V a lle y .. M a y _____
Union Pacific Syst. M a y _____ 6,517,785
708,285
V end alia-------------- r A l a y _____
74,718
Virginia & Sou West M a y _____
W a b a sh ......... - - - - - 4th wkJune 717,637
471,390
W estern Maryland r A p ril_____
449,250
W est Jersey & Seash M a y _____
484,704
W heeling a L E ..r M a y _____
1,206
W hite R lv (Vt)2wks end Juncl2
616,339
Wisconsin C entral.. April
14,909
W rlghtsvllle a Tenn May ____
664,000
Y azoo a Miss Vail J u n e _____
N
P rev io u s
Y ear.
P e r io d .
V a rio u s F isca l Y ea rs.
Tan
B-ellefonto Central _________
Jan
[Delaware & Hudson ______
Tan
Manlstlquo
.............................
046,918
Ian
a Mexican R ailw ay................
fan
a Mexican Southern________
New York Central & Hud River Tan
Lake Shore & Mich Southern Tan
fan
Lake Erie & W estern______
Chicago Indiana & Southern. Jan
Michigan Central____________ Jan
Cieve Cln Chic & St Louis___ Jan
Jan
Pec'l.a & Eastern________
Jan
Clvwhnatl Northern_____
Jan
iMWrt’ urgU & Lake E r ic ..
Jan
R u t la n d ......... .................... ..
New York Chicago & St LoUIs •Tan
T otal all lines_______________ Jan
Northern Central.......................... Jan
dF enn— East of Pitts & Erie__ Jan
d W est ot Pittsburgh & Brie. Jan
Phlla Baltimore & W ashlngtbn. Jan
Jan
Pltts Cln Chicago & St Louis.
Deo
R io Orande Junction_________
Jan
Texas & Pacific-------------------W est Jersey & Seashore_______ Jan
1
1
1
1
t
1
1
1
1
1
t
1
1
1
1
1
1
1
1
1
1
1
.1
1
1
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
P r e v io u s
Y ea r.
Juno
Alay
Juno
June
Juno
May
May
30
31
30
21
21
31 :
31
May 31
May 31
May 31
May 31
May 31
May 31
May 31
May 31
May 31
May 31
May 31
May 31
April 30
June 30
May 311
"$28,541
7,327.H!f
3,780,400
607,637
. 31,360,655
14,822,200
1,615,707
1,077,970
9.407,485
8,893,778
1,047,915
315,170
3,253,923
998,58C
3,876,90!
76.670,33'!
4,461,902
52,707,562
9,400
.
6,309,89-1
10,019,17(
287,27!
5,997,551
l,773,22f
AGGREGATES OF GROSS HARKINGS—Weekly and Monthly.
*W e e k ly S u m m a r ie s .
3d
4th
1st
2d
3d
4 th
1st
2d
3d
4th
week
week
week
week
week
week
week
week
week
week
April
April
May
May
May
Alay
June
June
Juno
June
(41
(49
(46
(43
(43
(44
(44
(44
(44
(38
roads)-----roads)____
roads)____
roads)____
roads)____
roads)____
roads)____
roads)____
roads)____
r o a d s ) . ...
C u r 'n t Y e a r P r e v ’ s Y e a r
$
10,109.928
14,051,625
10.132,666
10,150.119
10,200,047
14,524,784
10,295,336
10,569,566
10,608,619
13,814,435
8
9,056,824
12,232.959
9,019,675
8,919,700
9,110,933
12,320,505
9,297,152
9,618,010
9,763,404
12,849,084
In c. or D ee.
8
+ 1,053,104
+ 1,818,660
+ 1,082,991
+ 1,236,419
+ 1,089,114
+ 2,204,279
+ 998,184
+ 951,556
+ 905,215
+ 965,351
%
11.63
14.78
11.06
13.85
11.05
17.89
10.74
9.89
9.27
7.51
M o n t h l y S u m m a r ie s .
Month
Month
Montb
Month
Month
Month
Month
Month
Month
Month
Sept
Oct
Nov
Deo
Jan
Feb
Mch
April
May
June
1908
1908
1008
1008
1909
1909
1909
1909
1909
1909
(793 road s).
(796 roads).
(804 roa d s).
(708 roa d s).
(750 roads).
(792 roads) .
(715 roads).
(770 roads) ( 50 roads).
( 50 road s).
C u r 'n t Y e a r p r e v ’ s Y e a r
$
218,399,160
231,615,129
210,971,123
205,216.481
182,347,842
173,867,206
202,167,425
189,632,691
49,188,578
50,036,163
, n o v e m U n ^ d ^ e c t l j^ ’p e r h t e ^ ^ / Include^E vansvIlio * I n c f l a n a R R .' h I n clu d e !'eaTnlnfs o f C o l o r V d ^
233,7^5,076
249,032,145
218,067,731
103,791,645
172,275,046
150,982,806
180.889.J05
168,033,033
42,867,707
45,298,626
In c. or D ec.
$
— 15,336,810
— 18,317,016
— 7,996,608
+ 11,424,830
+ 10,071,896
+ 13,884,310
+ 21,278,330
+ 20,999,658
+ 6,320,871
+ 4,737,537
%
0.88
H
I
5.90
5.84
subsidiary lines In both years.
W orth ■
& Denver City and
Santa''/^ P r c s c o ^ i f Phoenfx^Ry!1^! These Zf?gures'do nVt lndudefrecdpts from ^ale^^coal ” ^ f i g u r e s h^re'are
^ Am erce Oo^mU3?on~n°*
new or in t e r s ta t e C q m m l r o e c l U s ^ o a m S _ f These llgures are on the m w b u b prescrlbeS by the I n te r s ta te Commerce Commission.
July
10 1909.]
THE CHRONICLE
99
------- G ro s s E a r n in g s — — -------N e t E a r n in g s -------
Latest Gross Earnings by Weeks.—
fo llo w s
we
su m
up
s e p a r a te ly
th e
I n t h e t a b le w h ic h
e a r n in g s fo r t h e fo u r t h
w eek of Ju n e.
T h e ta b le c o v e r s 3 8 ro a d s a n d sh o w s 7 . 5 1 %
in c r e a s e in t h e a g g r e g a t e o v e r t h e s a m e w e e k l a s t y e a r .
1909.
1908.
In crea se.
$
47,503
241,354
260,000
1,971,000
228,900
756,119
202,889
207,393
140,780
350,239
581,700
31,017
87,174
54,034
S
40,370
105,860
21S,700
1,777,000
254,600
589,510
233,488
200,849
125,114
342,482
520,100
30,897
65,325
41,842
S
7,133
75,488
41,900
194,000
1,195,306
1,184,808
10,558
177,000
202,303
70,939
1,037,040
179,428
20,396
105,209
304,810
1,282,000
30,000
215,900
1,251,707
12,784
12,777
242,090
1,181,871
314,241
27,250
66,913
717,637
173,500
185,070
04,244
1,063,352
179,996
20,571
83,259
252,174
1,229,000
38,000
205,198
1,124,485
8,441
18,157
221,711
1,192,076
255,834
35,868
02,360
638,225
3,500
17,227
0,695
F o u rth W eek or J u n e .
Atlanta Birmingham A Atlantic
Bultalo Rochester A Pittsburgh
Canadian N orthern____________
Canadian Pacific_______________
Central of Georgia_____________
Chesapeake A Ohio____________
Chicago A A lton_______________
Chicago Great W estern-------------Chicago Indianapolis & L ou lsv.
Colorado & Southern__________
Denver A R io Grande_________
Detroit A M ackinac___________
Duluth South Shore A Atlantic
Georgia Southern A Florida —
Grand Trunk of Canada---------Grand Trunk W estern-------D etroit Grand Haven & Mil
Canada A tlantic____________
International & Great Northern
Intcroceanlc of M e x ic o --..-------Iow a C en tra l---------------------------Louisville & Nashville-------------Mexican In tern a tion a l------------Mineral R ange--------------------------Minneapolis A St Louis . - —
Minneapolis St Paul A S S M —
Missouri Pacific A Iron M tn-----Central B r a n c h --------------------Mobile A O hio_____ _____ _____
National Railways of Mexico - N eva d a -C a llforn la -O regon -----R io Grande Southern--------------St Louis Southwestern......... —
Southern R ailw ay----------------- Texas & P a c ific ----------------------Toledo Peoria A W estern---------Toledo St Louis & W estern-----W abash------------------------------------Total (.18 roads)-----Net Increase (7 .5 1 % ).
166,603
6,544
15,072
7,757
55,000
120
21,849
12,192
22,010
52,042
53,000
10,702
127,222
4,343
20,379
58,407
4,553
79,412
13,814,435 12,849,084 1,075,508
965,351
25,700
80,599
$
P r e v io u s
Y ear.
C u rren t
Y ear.
— I n t . , R e n ta ls , & c .—
20,312
568
175
2,000
"5", 380
lO",805
"V , 018
110,157
P r e v io u s
Y ea r.
5
$
3
30,636
108,050
9,540
354,308
359,794
1,449,239
88,575
204,084
59,415
717,473
940,787
2,437,434
1,491
1,553
6,069
2,902
28,541
3,010
679
1,176
3,511
13,890
12,240
40,734
s331,959
5398,966
852,895
_______
_____
11,145,067 s4,381,449 s3,715,262
5,567,592 1,039,373
849,307
72,004,807 22,804,709 21,373,129
80,308
150,823
389,109
4,738,201 1,440,100 1,308,202
1,000,942
4,127,133 1,249,217
.
52,541,355 19,541,813 18,214,726
16,513 d efl,0 58
d cfl,5 8 2
50,327
200,717
61,912
470,817
394,018
1,470,890
18,794,133 5,126,508 6,089,326
28,927
186,558
69,780
679,269
2,721,508
675,204
Atlanta Blrm A A tl-b -M a y
103,008
July 1 to May 3 1 ______ 1,911,283
Bangor A A ro o sto o k .b -M a y
200,702
July 1 to May 31______ 2,654,734
5,060
Bellefonte Central..b ..J u n e
29,252
kea Jan 1 to June 3 0 ______
3,646
Bridgeton A S a c o "R -b .-M a y
43,910
July 1 to May 3 1 ______
„ „ ___
___________
965,953
Chicago
&_______
A lt o n .a
_____ May
July 1 to May 31_______11,567,817
xChlc Burl & Q u in cy .b -M a y 0,139,751
July 1 to May 31_______72,185,803
Chic Ind & L o u ls v -b -.-M a y
458,784
July 1 to May 31______ 4,847,147
arChlc Mllw & St P a u l.b -M a y 4,500,2.33
July 1 to May 3 1 _______54,912,827
Colum N cwb & L a u .b -M ay
18,059
July 1 to May 3 1 ______
262,475
Denver & R io G ran d e.a-M ay 1,720,852
July 1 to May 3 1 _______18,995,804
Dul So Sh A A tla n tic.b -M a y
246,847
July 1 to May 31______ 2,449,854
Grand Trunk o f Canada—
902,249
927,008
Grand Trunk R y ........... May 2,481,428 2,471,208
July 1 to May 3 1 ______ 27,099,143 29,195,810 7,604,880 7,509,088
24,819
130,422
Grand Trunk W estern May
461,344
304,501
906,894
July 1 to May 31______ 5,073,037 5,438,588 1,131,995
27,739
def5,840
D etroit Gr II & M llw .M ay
142,102
111,443
209,333
280,416
July 1 to May 31______ 1,534,421 1,585,849
18,979
def9,733
Canada A tlan tic______May
154,754
149,401
100,702 def87,412
July 1 to May 31______ 1,652,720 1,774,553
824,805
irGrcat N orth ern .b --------- May 4,273,552 3,042,161 1,300,041
July 1 to May 31______ 48,904,711 50,735,306 19,070,833 17,860,722
42,922
1,410
123,470
Gulf & Ship Isla n d _ b ...M a y
150,525
440,019
383,812
July 1 to May 3 1 ---------- 1,732,805 1,939,965
6,334
Lexington & E astern .b-M ay
30,027
33,944
7,181
139,973
67,629
462,868
July 1 to May 31---------370,260
30,890
36,547
92,200
Louisiana A A r k .b --------- May
98,580
322,449
July 1 to May 31______ 1,093,989 1,040,918
344,650
122,637
:rMalnc C en tra l.b _______ May 689,899
037,822
181,097
July 1 to May 31---------- 7,582,415 7,826,210 2,292,325 2,411,415
799
6,235
1,250
M a n is tlq u c.b __________ June
4,477
def461
Jan 1 to June 30______
21,205
27,845
1,107
4,605
64,374
Mineral Ita n g c-b _______ May
66,119
4,654
July 1 to May 3 1 ______
755,806
106,695
735,976
119,897
Pacific Coast____________May
598,422
64,808
530,576
117,746
July 1 to May 3 1 ...........5,918,131
0,680,072
805,863 1,005,132
nl8,523
R io Grande Junction___ April
70,450
01,744
n22,930
D ec 1 to April 3 0 ............
339,019
M86.182
287,275
nlO l ,700
rrTcxas A P a c iflc .b ______May 1,062,934
847,585
49,279
155,220
July 1 to May 3 1 ______ 13,541,269 13,434,051
3,840,300 3,314,203
T oledo St L & W e st.a -M a y
284,062
257,739
p85,35G
p i 10,840
July 1 to May 31______ 3,134,449 3,541,759 pl,050,'936 p i , 034,810
1,851,536
407,457
375,992
W a b a s h .b .........................May 2,103,073
July 1 to May 3 1 ______ 23,500,594 23,592,002
*
6,398,309
6,214,279
IN D U S T R IA L C OM PAN IES.
Abtngton A Rockland Elect
4,242
3,727
1,099
____
May
Light & Power C o
1,127
23,611
20,308
9,376
Jan 1 to May 3 1 ---------8,095
09,973
02,162
25,820
32,251
Illackstone Vail GasAEl May
19,515
15,186
5,823
Edison Elect Co (Brktn)M ay
8,610
89,709
Jan 1 to May 3 1 ...........
110,138
49,104
39,595
31,168
30,372
Fall R iver Gas W orks___ May
12,107
12,340
159,057
158,607
Jan 1 to May 31---------06,198
55,579
16,078
17,908
7,921
H oughton Co Elect C o ..M a y
0,092
99,565
109,304
Jan 1 to May 31______
55,087
49,722
26,564
20,810
10,170
10,200
Lowell Elect Corp_______May
140,672
147,783
00,204
Jan 1 to May 31---------58,997
<1 Mexican Tel A Tel Co—
93,195
109,804
57,881
Mch ltt> May 3 1 ......... ..
41,713
P r e v io u s
Y ear.
C u rren t
Y ear.
P rev io u s
Y ear.
$
S
5
37,015
84,673
73,678
47,334
Mtnncap Gen El Co____May
229,470
Jan 1 to May 31---------265,155
459,992
411,762
a Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes.
g These results are In Mexican currency.
n These figures represent 30% of gross earnings.
p F or May miscellaneous charges and credits to Incom e was a debit Item
o f $12,541, against a debit of $14,664 In 1908, and for period from July 1
to May 31 was a credit of $338,332 in 1909, against $22,623 in 1908.
s A fter allowing for miscellaneous charges to Income for the m onth of
May 1909, total net earnings were $369,213, against $308,329 last year,
and for period from July 1 to May 31 were $3,993,145 this year, against
$3,598,920.
x These figures are on the basis o f accounting required b y the Inter-State
Commerce Commission.
R oads.
----- G ro s s E a r n in g s — — -------N e t E a r n in g s ------C u rren t
Y ear.
C u rren t
Y ear.
Interest Charges and Surplus.
Net Earnings Monthly to Latest Dates.— T h e t a b l e f o l
lo w i n g s h o w s t h e g r o s s a n d n e t e a r n i n g s o f S T E A M r a ilr o a d s
a n d in d u s t r i a l c o m p a n i e s r e p o r t e d t h i s w e e k :
R oad s.
^
C o m p a n ie s .
C u rr
rren t
Y ear.
P r e v io u s
Y ear.
— B a t . o f N e t E ’ n g s .C u rren t
Y ear.
P r e v io u s
Y ear.
S
S
$
$
77,590
Bangor A A roostook ___May
defl0,12G
898,333
137,668
July 1 to May 31______
243
25T
1,310
1,234
Bellefonte Central_____ June :
1,458
1,542
1,552
Jan 1 to June 3 0 ______
1,420
635
593
86
541
Bridgeton A Saco R ____May
6,527
6,916
6.324
7,369
July 1 to May 31______
331,534
315,763
(194,051
(1202,267
Denver A R io G ran d e.-M a y
July 1 to May 31______ 3,533,331 3,062,594 (12,391.713 (13,115,365
101,579 Zdef22.494 rrdef64,075
100,470
Dul So Sh A A tlan tic__ May
July 1 to May 31______ 1,072,810 1 ,007,390xdef292,428a;def304,089
12,209 a:def7,435 .rdef6,103
13,510
Mineral R ange__________May
159,624
140,902 *def36,694 xdef29,926
July 1 to May 3 1 ......... ..
8,333
14,603
8,333
10,190
R io Grande Junction___April
41,067
60,039
41,667
44,513
D ec 1 to April 3 0 ______
i n d u :3TRIAL C OM PAN IES
Abtngton A R ockland Elect
354
745
376
751
Light A Power C o____ May
1,452
0,994
7,924
1,071
Jan 1 to May 3 1 ..
2,923
5,417
2,900
3,193
Edison Elect Co(Brktn) May
12,070
83,165
27,525
15,999
Jan 1 to May 31______
2,332
9,745
2,362
10,008
Fall R iver Gas W o rk s ..M a y
11,770
63,741
12,457
43,809
Jan 1 to May 3 1 ______
4,116
3,251
1,976
H oughton Co Elect C o .-M a y
4,070
32,204
19,930
22,883
29,792
Jan 1 to May 3 1 ..
4,813
5,974
5,387
Lowell Elect C orp_______May
4,190
37,916
24,508
35,756
Jan 1 to May 3 1 ..
21,081
31,222
17,063
5,793
Minneap Gen El C o_____ May
29,671
114,500
74,800
154,670
150,655
Jan 1 to May 3 1 ..
d These figures are after allowing for other incom e and for discount and
exchange. The sum of 510,000 Is deducted every m onth from surplus and
placed to the credit of the renewal fund.
x A fter allowing for other Income received.
STREET RAILWAY AND TRACTION COMPANIES.
L a te s t G ro s s E a r n in g s .
N am e of
R oad.
American R ys C o____
cAur Elgin A ChlcR y.
Binghamton St R y . .
Blrm R y Lt A Power
Brockton A Ply St Ry
Cape Breton Elec C o.
Central Penn Trac__
Chariest Con R y GAE
Chicago Railways C o.
Cleve Palnesv A Eas
Dallas E cctrlc Corp
Detroit United R y . .
Duluth Street R y —
East St Louis A S u b .
El Paso Electric
Ft W ayne A Wabash
Valley Traction Co
Galv-IIous Elec C o ..
Grand Rapids R y Co
Havana Electric R y .
tlonolulu Rapid Tran
A Land C o ..
Illinois Traction C o ..
Jacksonville Elcc Co
Kansas City R y A L
Kansas City-Western
Knoxville R y A LtC o
Lake Shore Elcc R y .
Lex A Inter R ys C o ..
Little Rk R y A El Co
Memphis Street R y _ .
Mllw Elec R y A LtCo
Mllw Lt Ht A Trac Co
Montreal Street R y
Nashville R y A Light
North Ohio Tr A L t - .
North Texas Elec Co_
Norf A Portsm T r Co
Northwestern E le v ..
Oakland Traction C o.
Oklahoma Olty l t y . .
Paducah Tr A Lt C o.
Pensacola Electric Co
Portl’d(Or) R yL A P C o
Porto R ico R ys C o ..
Rio de Janeiro Tram
Light A Power
St Joseph (Mo) Ry Lt
Heat A Power O o -.
San Fr Oak A San Jo
Sao Paulo Tr Lt A P Savannah Electric Co
Seattle Electric C o—
South Side E levated.
Sou Wisconsin R y Co
Spring! (111) R A L Co
Tampa Electric C o ..
T oledo R ys A L lgh t.
T oronto R ailw ay-----Twin City R ap T ran.
Underground El R y
of London—
Three tube lines___
Metropolitan D lst.
Unlted Tram ways .
United Rys of St L ._
Unlted It Its of San Fr
W hatcom Co R y A Lt
W eek or
M o n th .
C u rr e n t
Y ear.
P r e v io u s
Y ear.
$
247,039
97,934
26,038
177.003
8,155
21,172
60,549
63,695
M a y ..........
May - —
4th wltJune
May _____
May _____
May . . _ .
A p r il_____
5
254,475
106,412
28,823
181,818
9,090
18,745
06,350
63,971
997,348
28,039
103,525
198,749
81,533
171,073
47,510
31,296
May -------May . . .
A p r il____
W k July 4
May .........
Jan.
1 to la test d a te .
C u rren t
Y ear.
P r e v io u s
Y ear.
1,070,555
373,244
115,506
522,091
28,337
95,587
270,318
306,040
24,705
90,400
180,982
71,693
159,883
42,634
29,273
1,111,199
402,350
129,703
551.615
30,491
85,941
290.850
303,010
3,799,851
105,658
518.851
3,594,389
369,455
792,328
236,490
114,919
101,894
443,875
3,245,699
335,828
811,267
218,476
107,231
111,702
103,604
77,625
41,808
107,190
91,024
68,820
30,451
532,673
466,92:5
302.801
1,036,6581
505.160
413,340,
271,355
976,211
34,726
May -------25,964
M a y ____
M a y _____ 350,157
39,650
May .........
542,376
April
..
26,835
A p r il_____
47,131
M a rch ____
May
_ _
89,535
45,508
A p r il_____
50,589
March . . .
133.151
M a rch ___
May _____ 342,829
70,830
M a y _____
78,113
W k July 3
May _____ 142,888
May _____ 188,749
104,900
M a y _____ 151,599
166,482
J u n e ____
M a rch ____ 233,992
31,653
A p r il_____
17,698
May -----•20,172
May _____
M a y -------- 399,589
31,870
April _____
31,417
21,504
319,593
37,668
492,472
25,953
46,523
81.474
44,801
56,55a
128,857
323,442
66,730
74,128
135,119
158,410
83,808
152,173
163,663
232,494
19,614
18,40(1
15,084
355,774
28,807
162,999
122,578
1,713,026
195,739
2,130,778
101,968
139,215
378.851
165,23a
171,030
379,712
1,009,715
303,012
1,854,609
151,239
97,970
1,589,246
174,751
1,941,652
90,005
128,017
302,372
165,756
163,509
360,204
1,536,570
280,732
1,759,231
775,738
483.348
759,010
1,031,354
653,673
109,907
90,546
96,609
1,842,033
128,967
063,300
400,323
711,094
940,282
668.170
73,099
94,231
77,747
1,706,532
117,493
May _____
646,118
585 ,75 2
3,010,080
2,764,012
May -------M a rch ____
May .........
May — .
May _____
M a y -------May _____
A p r il_____
May _____
May _____
W k July 3
3d wk June
77,187
75,166
190,277
50,275
457,258
180,673
13,770
76,006
47,820
212,835
79,868
140,841
377.824
72,447
213,949
74,598
187,860 1,003,392
240,418
48,097
380,961 2,082,304
184,933
866,831
13,763
02,302
67,665
340.349
45,403
246,860
198,973 1,085,332
71,584 1,805,731
129,600 3,062,061
340,713
213,031
961,802
232,388
1,809,755
871,513
59,404
310,515
226,888
1,028,607
1,660,409
2,808,803
W k June26
W k June26
Wk June26
M a y -------May _____
May --------
£13,440
£10,941
£6,342
975,544
034,109
30,607
£12,215
£9,788
£7,947
920,765
661,914
28,958
£293,210
£224,324
£157,584
4,248,217
2,790,260
147,121
May _____
March ___
A p r il_____
May .........
M a y _____
M a y _____
c These figures are for consolidated com pany.
£326,003
£248,233
£144,559
4,427,540
2,971,421
158,424
100
[Vo*.. L X X X I X .
THE CHRONICLE
Street Railway Net Earnings.— The following table gives
the returns of STREET railway gross and net earnings
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of June 26 1909. The
next will appear in the issue of July 24 1909.
-------- G r o s s
E a r n i n g s ------------------N e t E a r n i n g s -------C u rren t
C u rren t
P r e c io u s
P r e v io u s
Y ea r.
Y ear.
Y ea r.
Y ea r.
$
$
$
5
R oads.
B in g h a m to n S t r e e t R y . - M a y
J a n 1 t o M a y 3 1 . . ___
C a p e B r e t o n E l e c t C o ___ M a y
J a n 1 t o M a y 3 1 _____
D a l l a s E l e c t r i c C o r p _____M a y
J a n 1 t o M a y 3 1 ___
.
E l P a s o E l e c t r i c C o ______ M a y
J a n 1 t o M a y 3 1 . . .. _
G a lv e s t-H o u s t E le c t C o - M a y
J a n 1 t o M a y 3 1 ________
H o n o lu lu R T 4 L C o .b .M a y
J a n 1 t o M a y 3 1 - . ___
H o u g h to n C o T r a c t C o ..M a y
J a n 1 t o M a y 3 1 ________
J a c k s o n v i l l e E l e c t C o ___ M a y
J a n 1 t o M a y 3 1 ________
N o rth ’ n T e x a s E le c C o -M a y
J a n 1 t o A l a y 3 1 ________
P a d u c a h T ra c t & L t C o -M a y
J a n 1 t o M a y 3 1 ___
.
P e n s a c o l a E l e c t r i c C o ___ M a y
J a n 1 t o M a y 3 1 ------- ----
2 8 ,8 2 3
12 9 ,7 0 3
18 ,7 4 5
8 5 ,9 4 1
10 3 ,5 2 5
5 18 ,8 5 1
4 7 ,5 10
2 3 6 ,4 9 0
10 3 ,6 0 4
4 6 6 ,9 2 3
3 4 ,7 2 6
16 2 ,9 9 5
2 6 ,6 3 8
115 ,5 0 6
2 1 ,17 2
9 5 ,5 8 7
9 0 ,4 6 0
4 4 3 ,8 7 5
4 2 ,6 3 4
2 1 8 ,4 7 6
9 1 ,0 2 4
4 1 3 ,3 4 0
2 1 ,5 0 4
9 7 ,9 7 0
3 9 ,6 5 6
19 5 ,7 3 9
10 4 ,9 0 0
4 8 3 ,3 4 8
3 7 ,6 6 8
17 4 ,7 5 1
17 ,6 9 8
9 0 ,5 4 6
2 0 ,17 2
9 6 ,6 0 9
5 0 ,2 7 5
S a v a n n a h E l e c t C o ___ _ . M a y
2 4 0 ,4 18
J a n 1 t o M a y 3 1 ----------4 5 7 ,2 5 8
S e a t t l e E l e c t r i c C o . ____ M a y
J a n 1 t o M a y 3 1 ----------- 2 , 0 8 2 , 3 0 4
4 7 ,8 2 0
T a m p a E l e c t r i c C o ______ M a y
J a n 1 t o M a y 3 1 ________
2 4 6 ,8 6 6
W h atco m C o R y & L t - - M a y
3 0 ,6 0 7
J a n 1 t o M a y 3 1 _______
15 8 ,4 2 4
12 ,2 0 3
4 4 ,3 0 2
7 ,0 7 3
2 8 ,2 6 8
3 7 ,3 4 2
18 9 ,3 8 7
18 ,8 2 9
9 1 ,3 5 4
9 ,0 1 8
3 6 ,6 6 9
4 4 ,8 7 2
18 1 ,4 8 2
17 ,14 0
7 6 ,5 3 1
12 ,0 1 1
4 8 ,3 7 9
3 1 ,4 1 7
15 1,2 3 9
2 5 ,9 6 4
12 2 ,5 7 8
11 ,0 4 1
5 2 ,8 2 0
16 ,4 7 5
7 9 ,7 3 9
4 6 ,9 5 3
2 0 5 ,8 7 7
7 ,2 8 0
3 4 ,8 14
8 3 ,8 0 8
4 0 0 ,3 2 3
18 ,4 0 6
9 4 ,2 3 1
15 ,0 8 4
7 7 ,7 4 7
4 8 ,0 9 7
2 3 2 ,3 8 8
9 ,2 7 1
4 0 ,9 7 5
17 ,6 5 1
8 7 ,2 8 7
18 2 ,7 9 9
8 0 3 ,5 9 2
2 0 ,6 5 8
10 3 .5 6 5
12 ,5 0 3
6 5 ,2 7 1
3 8 6 ,9 6 1
1,8 0 9 ,7 5 5
4 5 ,4 0 5
2 2 6 ,8 8 8
2 8 ,9 5 8
14 7 ,1 2 1
2 6 ,3 9 7
13 7 ,8 15
14 ,15 4
6 3 ,4 2 9
3 6 ,3 2 3
15 9 ,6 9 2
1 4 ,0 0 8
6 3 ,9 19
9 ,4 15
3 6 ,0 9 4
13 ,8 4 3
6 5 ,7 8 2
2 8 ,9 5 1
16 4 ,0 14
6 ,6 0 3
3 7 ,2 7 4
3 ,0 12
16 ,4 4 2
17 ,8 5 4
6 3 ,5 7 5
17 0 ,10 4
7 0 5 ,7 3 6
13 ,15 1
7 3 ,9 6
11,2 6 2
6 5 ,16 2
a N e t e a r n in g s h e r e g iv e n a r e a f t e r d e d u c t in g t a x e s ,
h N e t e a r n in g s h e r e g iv e n a r e b e fo r e d e d u c t in g t a x e s .
Interest Charges and Surplus.
—l n t . . R e n t a l s , <fcc.—
C u rren t
P r e v io u s
Y ea r.
Y ea r.
R oads.
$
B in g h a m to n S t r e e t R y - . M a y
J a n 1 to M a y 3 1 C a p e B r e to n E le c t C o ._ .M a y
J a n 1 to M a y 3 1
D a lla s E le c t r ic C o r p — .M a y
J a n 1 to M a y 3 1 E l P a s o E le c t r ic C o .
J a n I to M a y 3 1 G a lv e s t-H o u s t E le c t Co - M a y
J a n 1 to M a y 3 1 H o n o lu lu R T & L C o . - M a y
i J a n 1 to M a y 3 1 H o u g h to n C o T r a c t C o . . M a y
J a n 1 to M a y 3 1 Ja c k s o n v ille E le c t C o ._ - M a y
J a n 1 to M a y 3 1 N o rth e rn T e x a s E le c t C o M a y
J a n 1 t o M a y 3 1 ------- P a d u c a h T ra c & L t C o . .M a y
J a n 1 to M a y 3 1 P e n s a c o la E le c t r ic C o . - .M a y
J a n 1 to M a y 3 1 S a v a n n a h E le c t r ic C o _ . - M a y
J a n 1 to M a y 3 1 S e a t t l e E l e c t r i c C o _____ - M a y
J a n 1 to M a y 3 1 T a m p a E le c t r ic C o . . . - M a y
J a n 1 to M a y 3 1 .
W h a tc o m Oo R y & L t . - M a y
J a n 1 to M a y 3 1 .
8 ,9 3 5
4 5 ,4 0 3
5 ,0 3 6
2 5 ,9 13
2 8 ,8 3 9
14 4 ,2 0 1
7 ,9 0 0
3 9 ,5 2 6
2 1,4 19
10 7 ,8 5 0
s
B a t . o f N e t E ’ n g s .—
C u rren t
P r e v io u s
Y ea r.
Y ear.
—
5
2 ,1 0 6
7 ,4 17
2 ,0 3 7
2 ,3 5 5
8 ,5 0 3
4 5 ,18 0
1 0 ,9 2 9
5 1 ,8 2 8
7 ,2 8 4
4 0 ,4 9 5
4 ,7 8 9
2 5 ,4 2 9
2 9 ,9 4 0
14 8 ,4 7 6
6 ,14 3
3 0 ,7 14
6 ,2 4 1
2 8 ,8 7 3
7 ,2 4 7
3 5 ,6 7 9
1 9 ,7 4 0
10 1,7 0 6
6 ,12 3
3 0 ,8 4 3
4 ,6 4 7
2 3 ,7 8 6
9 ,2 8 1
4 6 ,9 6 5
17 ,19 0
8 5 ,9 2 6
7 ,0 2 7
3 5 ,2 0 1
4 ,3 4 3
2 1,7 7 3
17 ,3 7 5
8 7 ,2 5 1
0 ,7 11
4 0 .7 5 5
16 ,5 5 3
7 4 ,3 8 2
7 ,0 5 2
3 5 ,15 1
4 ,3 2 8
2 0 ,9 2 5
17 ,0 0 4
8 4 ,5 0 9
10 3 ,3 14
5 0 3 ,2 7 5
4 ,7 5 9
2 3 ,3 14
8 ,0 7 4
4 2 ,0 11
8 7 ,4 3 2
4 2 4 ,3 1 9
2 ,3 0 4
11,0 9 4
8 ,0 0 3
3 9 ,8 9 9
2 3 ,4 6 3
7 3 ,6 3 2
* 11,6 3 7
* 4 8 ,9 0 0
5 ,7 7 0
19 .5 0 6
7 ,1 9 4
3 2 ,7 7 4
2 9 ,7 0 3
11 9 ,9 5 1
253
def 387
4 ,9 2 8
1 9 ,2 0 2
270
36
7 9 ,4 8 5
3 0 0 ,3 17
15 ,8 9 9
8 0 ,2 5 1
4 ,4 2 9
2 3 ,2 6 0
$
4 ,0 19
3 .8 0 7
4 ,2 2 0
11,2 4 0
d e f 3 ,5 4 3
d e f 10 ,6 6 1
6 ,9 0 7
2 7 ,7 5 0
16 ,5 8 3
5 7 ,9 8 6
* 8 ,4 5 9
* 3 0 ,2 0 4
4 ,7 6 8
12 ,3 0 8
4 ,13 2
19 ,0 2 7
12 ,3 9 8
8 9 ,6 3 2
d e f 449
2 ,12 3
d e f 1 , 3 10
d e f 4 ,4 8 3
850
d e f 2 0 ,9 3 4
8 2 ,6 7 2
2 8 1 ,4 1 7
10 ,8 4 7
6 2 ,8 6 7
R E S UGTS FO R
P r o fits fro m m a n u f’g &
t r a d in g , a ll c o m p a n ie s
G u a r . I n t . o n P . & M in ’ g
M a c h . C o . in v e s tm e n t
O th e r ln t . a n d d is c o u n ts
R e c o v e r ie s on a c c ’t of
p a t e n t In fr in g e m e n ts
Y E A R S E N D IN G M A R C H 3 1.
19 0 8 -0 9 .
19 0 7 -0 8 .
19 0 6 -0 7 .
19 0 5 -0 6 .
1,5 9 5 ,2 0 3
1,9 17 ,5 2 7
2 ,2 8 8 ,9 14
2 ,2 5 5 ,2 12
2 4 5 ,8 3 3
10 8 ,9 5 6
2 0 0 ,0 0 0
10 8 ,7 2 7
1 8 3 ,3 3 3
7 3 ,6 5 8
2 ,2 2 6 ,2 5 3
2 ,5 4 5 ,9 0 5
2 ,3 2 3 ,3 8 9
18 5 ,8 5 7
4 2 1,8 9 0
1 6 4 ,7 4 4
3 9 6 ,3 11
6 2 ,8 3 7
12 8 ,6 9 3
3 4 4 ,9 5 2
1,9 2 2 ,0 13
1,8 4 9 ,7 4 4
3 5 ,0 0 0
3 5 ,0 0 0
2 0 7 ,3 3 3
12 ,3 9 9
$
3 5 ,0 0 0
T o t a l _________ __________ 1 , 9 8 4 , 9 9 2
D educt —
In te r e s t, d isc o u n t, & c .
9 3 ,2 9 1
D re p c c ’ n , p la n t , t o o ls ,& c
4 4 4 ,0 4 8
S a n F r a n c is c o l o s s - _ —
-----------
1 , 6 18 ,5 0 6
N e t p r o f i t s ____________
1,4 4 7 ,6 5 3
D ed u ct—
In te re s t on H o lly b o n d s
3 5 ,0 0 0
“ In t. S t ’m P ’p d e b ..
2 10 ,0 0 0
D is c o u n t o n b o n d s , & c _
12 ,3 9 9
D i v s . — I n t . S . P . , p f.(O ) 6 8 1 , 0 0 0
H . R . W o r t h ’ n , p f ___ ( 7 ) 1 4 0 , 0 0 0
I I . R . W o r t h ’ n , c o n i(7% ) 16 1
B la k e C o .’s c h a rg e s a n d
d i v i d e n d s _____________
a l7 6 ,4 3 6
H a r r is o n m o v ’g a c c t —
-----------
12 ,3 9 9
(6) 6 8 1 , 0 0 0
(7 1 1 4 0 , 0 0 0
12 ,3 9 0
(6) 6 8 1 , 0 0 0
(7) 1 4 0 , 0 0 0
(6 )
(7) 1 4 0 , 0 0 0
a l7 6 ,3 6 3
2 1 ,9 8 6
0 17 6 ,29«
a l 7 6 , 2 17
1,2 5 4 ,9 9 5
19 2 ,6 5 8
1,2 7 6 ,7 4 8
3 4 1,7 5 8
1,2 5 4 ,6 8 9
6 6 7 ,3 2 4
1,10 1,9 4 9
7 4 7 ,7 9 5
T o t a l __________
B a la n c e , s u r p lu s -
3 5 ,0 0 0
210,000
210.000
a In c lu d e s s in k in g fu n d fo r d e b e n tu r e s .
C O N S O L ID A T E D B A L A N C E S H E E T M A R C H 3 1.
19 0 7 .
19 0 * .
19 0 9 .
8
*
$
A s s e ls —
R e a l e s t a t e , b ld g s ., m a c h ’y , p la n t s , &
e q u ip ., p a t t e r n s , p a te n ts , g o o d w ill
a n d I n v e s t . In s t o c k s & b o n d s o f
a s s ’d a n d o t h e r c o s . , & c . , o f p r o p
e r t i e s h e ld d i r e c t l y ------------------------------3 3 , 2 4 9 , 9 2 6
D i s c o u n t o n b o n d s i s s u e d ...................
12 5 ,3 0 8
Inventories of manufactured material.
s u p p l i e s , & c . , o n h a n d ----------------------- 5 , 2 9 8 , 5 6 3
T r a d e a c c o u n t s a n d b ills r e c e i v a b l e
& c . , le s s r e s e r v e d f o r b a d d e b t s ______ 2 , 5 9 4 , 4 2 5
P o w e r & M in . M a c h . C o . I n v e s t . — i n t .
a c c r u e d ___________________________________
2 2 9 ,16 7
M is c e lla n e o u s d e b t o r s ................................... 10 1,4 8 0
B a l a n c e s In s u s p e n s e - .........................
2 4 4 ,2 0 2
A s s o c i a t e d c o . b a l s . in t r a n s i t , & c ______
5 3 ,9 5 0
C a s h In b a n k a n d o n h a n d ......... ....................
6 2 7 ,8 8 8
T o t a l a s s e t s ..................... ......................... ...........4 2 , 5 2 4 , 9 0 0
,7 4 8 ,0 10
15 0 ,10 6
3 3 ,15 4 .2 7 7
13 7 .7 0 7
4 ,7 7 8 ,5 5 0
5 ,8 2 9 ,3 4 1
3 ,8 2 5 ,3 7 7
4 ,2 3 2 ,6 3 8
18 3 ,3 3 3
7 3 ,3 4 2
2 2 7 ,5 3 1
4 2 ,5 7 0
4 17 ,114
9 5 ,15 1
2 5 6 ,4 3 5
6 7 ,17 1
6 2 1,7 2 9
4 2 ,8 3 9 ,8 0 2
4 4 ,0 0 0 .5 8 0
L ia b ilit ie s —
C a p ita l s to c k a n d b o n d s a u th o r iz e d ,
le s s In t r e a s u r y , & c . :
I n r l ! m m n n 0s fo Pn k >11C~
P ? e ^ r e Y s to c k ir
* 17 .7 8 7 ,3 0 0 * 1 7 ,7 8 7 ,3 0 0 * 17 ,7 8 7 ,3 0 0
1/ 13 .8 3 5 .0 0 0 1/ 13 .8 3 5 ,0 0 0
4 ,7 9 2 ,1 8 5
4 ,7 0 0 ,5 2 0
1,116 ,3 9 9
9 7 3 ,2 2 1
3 2 6 ,3 3 2
4 2 3 ,3 2 3
525,619
B o n d s a n d d e b e n t u r e s _______________ 4 ' 6 9 'i ’ !.)2 5
S u r p l u s c a p i t a l B . <S; K . S . P . C o ............-
Sinking fund reserve___________
S u n d r y c r e d ito r s N o t e s p a y a b l e - . - ...............................
T r a d e a c c o u n t s - .............- ...............................
.
l ’ ‘, n 5 » 7 s
I r o n fr
M iscellaneou s---------------------------------Shareholders for dividends____ .
170, 4 n
Reserve for com pletion of contracts.
-----
Surplus account, balance_____________ «.,848,2i»
T o t a l l i a b i l i t i e s __________ ______________ 4 2 . 5 2 4 , 9 0 9
1 ,7 9 5 ,5 0 0
2 5 7 ,8 0 7
17 6 ,5 0 8
17 0 ,2 5 0
12 7 ,5 0 5
2 ,5 9 2 ,8 6 8
2 ,5 6 6 ,4 5 2
5 6 8 ,4 4 8
17 7 ,5 3 6
17 0 ,4 4 5
10 8 ,7 7 5
2 ,5 5 1,7 0 7
4 2 ,8 3 9 .8 0 2
4 4 ,0 0 0 ,5 8 0
r In c lu d e s S 1 7 7 6 2 5 0 0 s to c k o f In t e r n a t io n a l C o m p a n y , $ 2 ,3 0 0 o f H e n r y
R. WOTthlngton a n d $ 2 2 . OOOofHolly M f g . C o
V I n c lu d e s $ 1 1 , 3 5 0 0 0 0 o f
I n t e r n a t i o n a l C o m p a n y , $ 2 , 0 0 0 , 0 0 0 o f H e n r y R . W o r t h i n g t o n a n d $ 4 8 o ,0 0 0
o f B l a k e & K n o w l e s ' S t e a m P u m p W o r k s . — V . 8 8 , p . 1 2 o7 , 2 9 7 .
Nova Scotia Steel & Coal Company, Ltd.
Y e a r e n d in g D e c . 31 1908.)
General Manager Thomas Cantley, at the annual meeting
on May 20, and in the report presented at that time, said in
substance:
(R e p o r t fo r F is c a l
S i n c e t h e f i r s t o f t h e y e a r b u s i n e s s c o n d i t i o n s U t a v e ^ b e ^ s l o w l y im p r o v -
3 ,2 5 9
2 5 ,2 6 3
x A f t e r a llo w in g fo r o th e r In c o m e r e c e iv e d .
AN N U AL 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 be
given on the last Saturday of each month. This index will
n o t include reports in the issue of the “ Chronicle” in which
it is published. The latest index will be found in the issue of
June 26. The next will appear in that of July 31.
International Steam Pump Company.
( R e p o r t f o r th e F i s c a l Y e a r e n d in g M a r c h 31 1909.)
President Benjamin Guggenheim, May 11 1909, wrote:
G e n e r a l R e s u t l s .— r T h e c o m p a n y , i n c o m m o n w i t h a l l o t h e r I n d u s t r i a l
e n te r p r is e s , h a s p a s s e d th ro u g h a m o s t t r y in g p e rio d .
B u s in e s s w a s c u r
t a i l e d e n o r m o u s l y , n o t o n l y in t h e U n i t e d S t a t e s , l i n t In o t h e r c o u n t r ie s
a s w e ll.
N o t w it h s t a n d in g th e s e d is c o u r a g in g c o n d itio n s a n d w ith o u r
v o lu m e o f b u s i n e s s d e c r e a s e d t o a p p r o x i m a t e l y 6 5 % o f t h e t o t a l d o n e in
t h e p r e v i o u s fis c a l y e a r , o u r n e t p r o f i t s f o r t h e y e a r 1 9 0 8 - 1 9 0 9 a r e e q u a l
t o 9 0 % o f t h e n e t p r o t it s o f 1 9 0 7 - 1 9 0 8 .
S u c h a s a t is fa c t o r y r e s u lt w a s
a c c o m p li s h e d o n l y b y c lo s e e c o n o m ie s .
D u rin g th e y e a r w e h a v e a d d e d m a n y n e w to o ls o f th e m o s t m o d e rn t y p e
a n d a t s e v e r a l o f o u r p la n t s h a v o m a d e e x t e n s iv e r e -a r r a n g e m e n t o f th e
m a c h in e t o o ls .
T h e s e Im p r o v e m e n ts w ill, w ith th e r e s u m p tio n o f b u s in e s s ,
b e c o m e e t l e c t l v e In I n c r e a s e d e a r n i n g s .
D e s p i t e t h e c o n d i t i o n s a b o v e m e n t io n e d , w e h a v e c h a r g e d o ft t o d e p r e c ia
t io n t h e s a m e a m o u n t a s In o u r m o s t p r o s p e r o u s y e a r s .
T h e b u s i n e s s o f t h e S i m p s o n p la n t a n d o f o u r L o n d o n o f f l c c , w i t h i t s d e
p e n d e n c ie s in E u r o p e , A u s t r a l i a , A f r i c a a n d C h i n a , Is n o w h a v i n g t h e
c a r e fu l a t te n t io n a t th e e x e c u tiv e c o m m itte e , a n d w e e x p e c t t h a t d e p a r t
m e n t t o I n c r e a s e l a r g e l y In i t s c o n t r i b u t i o n s t o t h e n e t p r o f it o f t h e c o m
pany.
T a k i n g a d v a n t a g e o f t h e lo w p r ic e s p r e v a i l i n g In t h e m e t a l m a r k e t , w e
h a v e q u i t e r e c e n t l y m a d e la r g e c o n t r a c t s f o r p ig I r o n , c o p p e r , t in a n d o t h e r
m e t a ls in a m o u n t s w h ic h s h o u ld c a r r y u s f o r a f u l l w o r k i n g y e a r .
W e h a v e in p r e p a r a t i o n p la n s f o r e x t e n s i v e a d d i t i o n s t o o u r lin e s o f
m a n u fa c tu r e a n d fo r e n te r in g u p o n th e m a n u fa c tu r e o f n e w t y p e s o f m a
c h in e r y a n a lo g o u s to o u r o w n .
T h e r e Is e v e r y r e a s o n t o b e l i e v e t h a t t h e n e w l l s c a l y e a r w ill w i t n e s s t h e
r e s to r a tio n o f c o m m e r c ia l p r o s p e r it y a n d o u r s h o p s a r e p r e p a r e d to r e a p
th e b e n e fit o f n o r m a l c o n d itio n s to t h e f u lle s t o x t e n t , d u e t o t h e ir e x c e lle n t
p h y s i c a l c o n d it io n a s w e l l a s t o t h e s o u n d f i n a n c i a l p o s i t i o n o f y o u r c o m p a n y .
b e t t e r m e n t s m a d e d u r i n g 19 0 8 h a v e
d U Asn fs w e l l 'k n o w n f t 'h e b o u n t ie s w i l l b e
p r e s e n t y e a r , b u t t h e r e d u c t i o n In b o u n t i e s s h o u l d b e m o r e t h a n o n s e t b j
'T h e w V a l 'q u a n t i t y o f c o a l m i n e d , u s e d a n d s h i p p e d w a s 7 1 8 , 6 5 4
o n s 'S
i n ^ e a s c o f ^25 6 s T tons o v e r t h e p r e v i o u s y e a r .
O f th is c o a l o u t
p u t', 2 5 7 , 8 6 6 t o n s w e r e u s e d f o r i r o n a n d s t e e l m a m i f a c t u r e a n t i o p e r a t i n g
c o l l i e r i e s , c r a n e s , & c . , a n d t h e balance, 4 6 0 ,7 8 8 t o i l s , w a s s o l d .
T h e t o t a l q u a n t i t y o f o r e shipped f r o t n W ^ a n a w a s 3 1 - , 7 9 5 t o n s , 3 3 , t 0 0
t o n s le s s t h a n t h e p r e v i o u s y e a r .
'C
t o n s , w a s d i s t r i b u t e d b e t w e e n Rotterdam ,
l
h iia a e ip m a ,
t AYld
k 's l n)’uvi
M iu t iic s o r o u g n
a n T h e 0s h lp m e n ? s y o f fin is h e d ir o n s t e e l a
n
d
“& W D m e m s
t h a n t h a t o f th e p r e v io u s y e a r .
° n
t h ^ c o m b l n e d s h h > m e a t s o f s te o l
w e r e a b o u t 8 ,5 0 0 t o n s g r e a t e r , s o t h a t t h e c o m o i n t a s r u p m e n t s o r s t e e l
p r o d u c t s a n d p ig - ir o n w e r e actually 2 . 86^ o n s g r e a t e r t o n t h a t o f 1 9 0 7 .
T h e r o v a l t v n a ld t h e N o v a S c o t i a G o v e r n m e n t o n c o a i n jin e t i w a s 5 o o , 8 1 0 .
W a g e s . — - E a r l y In t h e y e a r a r e a d j u s t m e n t w a s m a d e in t h e r o l li n g m lli
t o n n a g e r a t e a t t h e N e w G l a s g o w m ills w h i c h w a s e q u i v a l e n t t o a
r e d u c t i o n o f a b o u t 1 2 c . p e r t o n o n t h e m ill o u t p u t .
I n a c c o rd a n c e w ith
t h e fi n d i n g o r t h e c o n c i l i a t i o n b o a r d , d a t e d A u g . 1 1 9 0 8 , 2 - a m e n a t t h e
c o a l m in e s w e r e a d v a n c e d f r o m $ 1 3 8 o r b / J 'e r t o $ 1 4.) a d a y , c a ll i n g fo r
$ 1 0 7 5 0 a m o n t h ; w h ile 5 0 % w a s a d d e d t o t h e f a l l i n g s t o n e s c a le In c o llie r ie s
N o . 1 a n d 5 . a m o u n t i n g t o $ 4 5 0 , o r $ 8 o 7 oO In a ll a m o n t h , o t w h i c h $ 3 0 0
w a s c o n tr ib u te d b y th e c o m p a n y .
,n
,
A d d it io n s .— P la n s a r e a b o u t c o m p le te d fo r a n in s ta lla tio n o f p o w e r ,
h o i s t i n g a n d p u m p i n g p la n t n e c e s s a r y f o r t h e o p e r a t i o n o f o u r s u b m a r i n e
m in e a t W a b a n a .
T h e in t e n t i o n is t o p r o v i d e s u f f i c i e n t p o w e r t o m in e ,
h o i s t , c r u s h a n d t r a n s f e r t o t h e s h i p p i n g p i e r n o t le s s t h a n 2 ,0 0 0 t o n s o f
o r e a d a y ; t h e a p p r o x i m a t e c o s t w i l l p r o b a b l y e x c e e d $ 4 0 0 ,0 0 0 , w h i l e it
w i l l r e q u i r e a t l e a s t o n e y e a r t o I n s t a ll .
Chairman R. 1C. Harris said yi part:
T h e e x p e n d it u r e o n c a p it a l a c c o u n t o n o u r c o llie rie s , w h ic h h a s b e e n g o
in g o n f o r s o m e y e a r s . Is n o w , w e h o p e , p r a c t i c a l l y a t a n e n d .
W hen w e
e m b a r k e d In t h e c o a l - m l n l n g b u s i n e s s , w e h a d a t S y d n e y M in e s o n e c o l l i e r y
w i t h a n a n n u a l o u t p u t o f le s s t h a n 2 o 0 ,0 0 0 t o n s a y e a r .
W c n o w h a v e fiv e
w e ll- e q u ip p e d c o llie r ie s , w ith a c a p a c it y e q u a l to 1,0 0 0 ,0 0 0 t o n s a n n u a lly .
D u r i n g t h e p a s t y e a r t h e a c t u a l o u t p u t w a s a b o u t 7 2 0 ,0 0 0 t o n s : f o r t h e y e a r
1 9 0 9 w e e x p e c t a c o n s i d e r a b l y I n c r e a s e d t o n n a g e , a n d w e h a v e s o ld o r je o n r a c te d fo r p r a c t ic a lly o u r e n tir e y e a r s o u tp u t.
[ H e r e fo llo w t h e a l l u s i o n s t o t h e p la n f o r m a k i n g a n Is s u e o t n o t e x c e e d
in g $ 6 ,( 1 0 0 ,0 0 0 5 % 5 0 - y e a r b o n d s a n d a l s o $ 1, 0 0 0 ,0 0 0 d e b e n t u r e ^ s t o c lc ,
c it e d In V . 8 8 , p . 1 3 7 6 : s e e a l s o b o n d o l f e r l n g , p . 1 5 6 3 . ]
”" 1
S u b m a r in e O r e . — A t W a b a n a w e r e a c h e d o u r s u b m a r i n e a r e a s In D e c e m
b e r l a s t , a n d a t t h a t t im e t h e o r e In t h e s e a m o n w h ic h w e w e r e w o r k i n g o n
t h e I s la n d w a s p r o v e d t o c o n t in u e in t o o u r s u b m a r i n e a r e a s , a n d t o m a i n t a i n
It s a v e r a g e h e i g h t .
S i n c e t h a t t im e w e h a v e p r o v e d t h e e x i s t e n c e o f | t l u e e
o th e r s e a m s o f o r e , th e fo u r m a k in g a t o t a l p d e k n e s s o f o v e r 3 0 f e e t , a n d w o
5 3 1,0 0 0
J ULY
W
THE CHRONICLE
1 9 0 9 .1
fe e l a s s u r e d t h a t o u r s u b m a r in e o ro a r e a s c o n ta in h u n d r e d s o f m illio n s o f
t o n s o f o r e . a v e r a g i n g o v e r 5 0 % In I r o n , w h i c h , v a l u e d a t , s a y , 5 c e n t s a t o n In
t h e g r o u n d ( w h ic h Is a v e r y lo w v a l u a t i o n ) , Is a l o n e w o r t h m a n y t i m e s t h e
a m o u n t w e a r e p r o p o s in g to r a is e o n th e b o n d s o f th e c o m p a n y .
Pres. Robert E. Harris, under date of Feb. 26 1909, said:
G e n e r a l R e s u lt s .— T h e y e a r 19 0 8 d id n o t o p e n a u s p ic io u s ly — th e m ills a t
N e w G la s g o w w e r e c lo s e d d u r i n g a p a r t o f J a n u a r y , a n d d u r i n g p r a c t i c a l l y
t h e w h o le o f t h e y e a r t h e f o r g e d e p a r t m e n t h a s b e e n w o r k i n g o n s h o r t t i m e .
T h e b la s t fu r n a c e w a s b a n k e d fro m a b o u t th e m id d le o f J u n e t o n e a r ly th e
e n d o f J u l y , a n d t h e s t e e l p la n t w a s c l o s e d d u r i n g p r a c t i c a l l y t h e w h o le o f
Ju n e , J u ly an d A u g u st.
T h e r e h a d b e e n c o n s i d e r a b l e I m p r o v e m e n t In
th e n u m b e r o f o r d e rs r e c e iv e d d u r in g th e la t t e r h a lf o f t h e y e a r , a n d th e
w h o le p l a n t , w i t h t h e e x c e p t i o n o f t h e f o r g e , h a s b e e n k e p t f a i r l y b u s y . T h e
t o t a l s h ip m e n ts o f s te e l d u r in g th e y e a r a g g r e g a t e d 4 4 ,4 2 1 t o n s , a s c o m p a re d
w ith 5 0 ,0 5 2 to n s fo r th e y e a r 19 0 7 ; 8 .7 2 1 t o n s o f p ig Ir o n w e r e s o ld .
a ^ T h e c o a l b u s i n e s s w a s t h e l a r g e s t In o u r h i s t o r y ; t h e q u a n t i t y m in e d ,
u se d a n d s h ip p e d w a s 7 1 8 ,6 5 4 t o n s .
N o t w it h s t a n d in g t h e v e r y g r e a t d e p r e s s io n w h ic h h a s e x is t e d t h r o u g h o u t
t h e w o r l d In t h e Ir o n a n d s t e e l I n d u s t r y , t h e p r o t i t s o f t h e c o m p a n y f o r t h e
y e a r 19 0 8 w e re 5 7 3 4 ,7 0 1 , a s c o m p a re d w ith 5 9 4 4 ,7 9 1 fo r th e y e a r 19 0 7 .
C a p it a l E x p e n d i t u r e s .— T h e s u m o f 5 3 2 1 , 7 3 5 h a s b e e n e x p e n d e d d u r in g th e
y e a r o n c a p i t a l a c c o u n t . In e q u i p p i n g t h e n e w c o l l i e r y a t S y d n e y M in e s ,
k n o w n a s N o . 4 , In r e o p e n i n g N o . 2 c o l l i e r y , t h e d e v e l o p m e n t o f t h e s u b
m a r i n e Ir o n o r e a r e a s a t W a b a n a , a n d f o r p l a n t . I m p r o v e m e n t s , A c .
D i v id e n d s .— T h e a m o u n t e x p e n d e d o n c a p it a l a c c o u n t d u r in g th e p e rio d
f r o m 1 9 0 1 t o t h e p r e s e n t t i m e , o u t o f e a r n i n g s . Is u p w a r d s o f 5 1 , 5 0 0 , 0 0 0 .
B u t f o r t h i s e x p e n d i t u r e o u t o f e a r n i n g s , t h e c o m p a n y c o u ld e a s i l y h a v e
p a i d l i b e r a l d i v i d e n d s o n It s c o m m o n s t o c k f r o m t h e t i m e o f I t s o r g a n i z a t i o n .
T h e r e s u l t o f t h e p o l i c y p u r s u e d In b r i n g i n g t h e p r o p e r t y t o I t s p r e s e n t s t a t e
o f e ffic ie n c y c a n n o t b u t re s u lt b e n e llc la lly to th e s h a r e h o ld e r s .
D u r n g th e y e a r fo u r q u a r t e r ly d iv id e n d s o f 2 % e a c h o n th e p re fe rre d
s t o c k h a v e b e e n p a i d , a n d o n e d i v i d e n d a t t h e r a t e o f 1 > $ % w a s p a i d In
M a rch la s t o n th e c o m m o n s to c k .
T h e d r e e t o r s h a v e t h o u g h t It b e s t n o t
to d e c a ro a n y fu r t h e r d iv id e n d o n th e c o m m o n s to c k u n til th e lln a n c la l
a r r a n g e m e n t s o f t h e c o m p a n y h a v e b e e n c o m p le te d .
R E SU LT S FO R C A LEN D A R
19 0 8 .
$ 7 3 4 ,7 0 2
1,2 0 2 .6 0 1
YEA RS.
19 0 7 .
$ 9 4 4 ,7 9 1
1,18 0 ,7 8 3
19 0 6 .
$ 9 6 0 ,2 8 1
7 9 5 ,3 2 5
19 0 5 .
$ 5 5 9 ,9 0 6
6 9 5 ,7 5 0
T o t a l a v a i l a b l e ________$ 1 , 9 3 7 , 3 0 6
$ 2 ,12 5 ,5 7 5
D ed u ct—
$ 2 4 8 ,8 8 6
I n t e r e s t o n b o n d s , & o ._
$ 2 6 3 ,6 5 0
A c c ru e d In t. on b o n d s ..
18 ,0 0 0
18 ,0 0 0
D e p r e c ia tio n a n d re n e w
7 6 ,7 4 6
15 8 ,9 0 5
_________
8 2 ,4 0 0
D l v . o n p __________
r e f . s t o c k (. 8. %. )
8 2 ,.4 0 0
D lv . o n c o m . s t o c k ___ ( i J 4 ! % ) 7 4 , 8 t 4 ( 6 % ) 2 9 0 , 2 5 6
I m p r o v ’ t s & b e t t e r m 't s .
8 6 ,8 0 8
----------.S in k , f u n d a n d n ilB O c l- .
115 ,6 6 7
115 ,5 2 4
$ 1 ,7 5 5 ,6 0 6
$ 1 ,2 5 5 ,6 5 6
$ 2 5 5 ,6 3 9
18 ,7 5 0
10 1,8 7 9
8 2 ,4 0 0
5 2 2 9 ,4 2 7
18 ,7 5 0
6 4 ,3 0 4
8 2 ,4 0 0
116 ,15 4
6 5 ,4 5 0
T o ta l.............- ............
$718,085
Surplus, carried forward $1,219,221
$574,822
$1,180,784
P r o f i t s f o r t h e y e a r ______
B a la n c e b r o u g h t fo r w a r d
$922,971
$1,202,604
$ 4 6 0 ,3 3 1
$ 7 9 5 ,3 2 5
B A L A N C E S H E E T D E C . 31
1908.
1907.
$
$
Prop'ty A mltiM-. 12,219,538 11,897,803
Inventories_____ 1,291,213
1,194,642
C a s h , le d g e r a c
c o u n ts a n d b ills
r e c e i v a b l e _____
<525,038
718,537
Total...............14,135,789 13,810,882
19 0 7 .
S
1.0 3 0 .0 0 0
4 ,9 8 7 ,6 0 0
3 .0 6 0 .0 0 0
7 5 0 ,0 0 0
3 4 1 ,6 6 5
19 0 8 .
$
1 ,0 3 0 ,0 0 0
4 ,9 8 7 ,0 0 0
3 ,5 6 1 ,5 0 0
7 5 0 ,0 0 0
4 3 8 ,5 0 7
L ia b ilit ie s —
P r e fe r r e d s t o c k ___
C o m m o n s t o c k ___
B o n d s ........................
G e n e r a l r e s e r v e ___
S in k in g f u n d _____
B ills p a y a b le a n d
9 3 0 ,1 8 3
c a sh a d v a n c e s . .
P a y - r o lls a n d a c
19 8 ,8 6 2
c o u n ts p a y a b l e .
7 5 ,0 0 0
C o u p o n s ( J a n . ) ___
2 0 ,6 0 0
D lv . on p r e fe r r e d .
D lv . on c o m m o n ..
18 ,0 0 0
A c e r , h it ., n o t d u e
6 ,7 0 0
I n t . c o n s . b d s . re d .
8 5 7 ,2 2 6
l i e s , fo r d e p r ., A c .
4 2 ,3 9 0
P I re in s u r. f u n d . .
P r o fit a n d lo s s ____ 1 , 2 1 9 , 2 2 1
6 16 ,5 10
19 7 ,8 7 8
7 5 .0 0 0
2 0 ,6 0 0
7 4 ,8 14
18 .0 0 0
4 ,3 6 0
7 9 2 ,2 3 7
3 9 ,6 2 3
1,2 0 2 ,6 0 4
T o t a l ......................1 4 , 1 3 5 , 7 8 9
1 3 ,8 1 0 , 8 8 2
V . 8 8 , p. 6 29 , 508.
Central Coal & Coke Co., Kansas City.
( R e p o r t f o r Y e a r e n d in g J u n e 1 1909.)
The pamphlet report contains no text. The results for
two years compare as follows:
R E S U L T S O F O P E R A T IO N S F O R
YEAR
- 10 0 8 -0 9 —
G ro ss.
D e p a rtm e n t—
W h o l e s a l e c o a l ________ . .
R e t a i l c o a l ______________ . .
. .
W ic h ita c o a l .
..
S t . J o s e p h c o a l ________
S a l t L a k e C i t y c o a l ___ _ .
W a s h e r _________________ . .
M i n i n g — ........................ . .
$ 9 6 4 ,10 3
6 4 ,0 8 1
17 ,7 3 1
8 ,5 7 1
4 9 ,5 9 8
5 2 ,5 0 7
17 7 ,6 2 2
W h o le s a le lu m b e r . . . . _
C a r s o n m i l l ------------------ . .
K e i t h m i l l --------------- . . . . .
0 3 7 ,7 9 1
5 0 6 ,5 9 3
3 5 7 ,6 8 0
E N D IN G
$ 4 5 9 ,2 12
4 ,5 18
2 13
L o ss 1,2 0 5
480
15 ,0 0 0
L o s s 3 8 ,0 9 8
14 7 ,4 2 6
9 7 ,9 8 2
18 1,9 6 4
10 3 ,3 6 9
10 5 ,5 9 8
JU N E
$ 1 ,2 3 2 ,0 9 6
7 0 ,7 7 3
19 ,17 6
9 ,2 8 3
7 1 ,0 2 7
6 1,2 3 8
14 0 ,0 2 3
7 3 9 ,0 14
4 1 6 ,2 0 1
2 7 3 ,8 0 1
$ 1,0 7 0 ,4 5 9
T o t a l ..................................
1.
-1907-08-
G ro ss.
N et.
N e t.
$ 0 7 3 ,4 4 8
11,2 0 3
L o ss 1 434
L o ss
13 7
16 ,7 7 5
11 ,9 5 1
L o s s 2 ,3 7 0
17 3 ,8 4 9
2 2 4 ,3 2 9
10 4 ,8 8 1
4 9 ,0 12
9 0 ,2 3 5
$ 1,3 5 2 ,7 0 2
IN C O M E A C C O U N T .
1008-09.
N e t e a r n in g s a s a b o v e . 1,0 7 6 ,4 5 9
D e d u c t io n s —
R o y a lt y c r e d ite d c o a l Id s.
81,773
R o y a l t y c r e d it , t im b e r Id s.
264 873
D e p r e c ia tio n m in e p r o p .
----------D e p r e c ia tio n m ill p r o p . .
37,839
D e p r e c ia tio n w a s h e r p r o p .
4,008
G e n e r a l e x p e n s e ___ _____
85,447
Interest on bonds______
Interest and exchange._
T o t a l .......................................
S u r p lu s e a r n in g s ..
D lv s . o n p r e f. s to c k ( 5 % )
D l v s . o n c o m . s t o c k (6 % )
B a l a n c e o v e r d i v a ____
1907-08.
1,3 5 2 ,7 0 2
88,933
200,603
10 0 6 - 0 7 .
$
1,4 4 7 ,6 5 0
19 0 5 - 0 6 .
$
1,3 0 4 ,4 18
9 3 ,1 3 0
2 6 7 ,1 4 0
9 4 ,0 6 9
19 8 ,9 5 0
4 0 ,0 0 0
3 9 ,7 3 9
-----------
13 6 ,6 9 9
9 1 ,6 0 7
T o t a l ......................1 3 , 3 1 1 , 0 8 4
— V . 88, p . 56S.
T o t a l ...........................6 ,5 2 6 ,7 8 4 6 .3 7 6 ,7 6 4
California Wine Association.
(B a l a n c e S h e e t D e c . 31.)
10 0 8 .
19 0 7 .
A s s ets —
S
$
L ia b ilit ie s —
In v e n t , o f w in e s ,A c . 2 ,2 6 9 ,3 9 2 2 ,7 0 4 ,0 6 7 C a p ita l s t o c k ..............
B ills A a c c t s . ro c’ l c .
9 3 2 ,15 2
9 1 1 , 6 2 9 B o n d s Is su e d ..............
In s u ra n c e c la i m s . .
2 8 0 ,3 1 0
2 8 3 ,8 1 0 S u r p lu s ................ ..
S t o c k In o th e r c o s . . 4 , 6 2 1 ,5 2 0 4 , 6 7 5 ,5 1 8 R e s e r v e ........................
P la n t , m a c h 'y , A c . 1 , 5 3 2 , 1 5 4 1 , 1 5 7 , 4 7 7 B ills p a y a b le ..............
T a x e s A In su r. a c c t s .
19 ,3 6 4
2 7 ,5 6 0 G ra p e A w in e a c c t s .
In s u r a n c e fu n d ____
4 9 ,4 9 8
4 1 ,0 6 8 B o n d In te r e s t______
C a s h In b a n k s _____
3 8 0 ,17 9
3 , 1 1 4 S u n d r y a c c o u n ts . .
T o t a l ........................ 10 ,0 8 4 ,5 6 9 9 ,8 0 4 ,8 4 4 i
— V . 87, p . 284.
19 0 8 .
19 0 7 .
$
S
4 ,7 5 4 ,2 0 0 4 ,7 5 4 ,2 0 0
1,5 0 6 ,0 0 0 1, 5 0 5 , 0 0 0
1 ,0 0 0,000 1 , 000,000
8 2 ,2 3 3
5 3 5 ,11 5
2 , 2 4 1 , 7 9 7 1,4 7 7 ,4 0 6
3 4 0 ,0 4 1
4 5 2 ,1 9 6
2 3 ,4 0 4
2 3 ,4 0 4
13 7 ,8 9 4
5 7 ,5 2 4
T o t a l ........................ 10 ,0 8 4 ,5 6 9 9 ,8 0 4 ,8 4 4
American Hardware'Corporation, New Britain, Conn.
( R e s u lt s f o r F i s c a l Y e a r e n d in g J a n . 1 1909.)
B A L A N C E S H E E T A M E R IC A N H A R D W A R E C O R P O R A T IO N .
1909.
19 0 8 .
S t o c k In s u b . c o s . a t
c o s t .................................6 ,6 5 0 ,5 7 9 6 ,2 6 3 ,2 7 9
A c c o u n ts r e c e iv a b le - 2 5 3 , S 8 7
6 4 5 ,5 1 8
C a s h .................................. 1 1 0 ,6 7 4
116 ,6 0 1
19 0 9 .
19 0 8 .
L ia b ilU ie s —
$
$
C a p ita l s to c k I s s u e d .6 ,18 0 ,8 0 0 6 ,1 7 7 , 8 0 0
B ills p a y a b le .... 6 0 2 ,0 0 0
6 2 2 ,0 0 0
10 8 ,9 9 7
S u r p l u s ............... 1 2 1 , 6 6 6
B a la n c e D e c . 3 1 19 0 8 1 1 0 , 6 7 4
116 ,6 0 1
T o t a l ........................... 7 , 0 1 5 , 1 4 0 7 ,0 2 5 ,3 9 S
T o t a l ............................7 , 0 1 5 , 1 4 0 7 ,0 2 5 ,3 9 8
A s s ets —
$
$
S T A T E M E N T O F S U B S I D IA R Y C O M P A N IE S J A N . 1
19 0 9 .
T o t a l ......................1 1 , 3 7 7 , 1 5 0
1908.
19 0 8 .
19 0 9 .
L ia b ilit ie s —
$
5 ,7 4 4 ,4 5 0 C a p .s tk .s u bald .c o s . 2 ,6 0 0 ,0 0 0
3 ,8 9 8 ,2 0 1 B ills A a c c 't s p a y .
8 8 9 ,4 8 8
1 . S 3 5 .7 0 7 S u r p l u s ...................... 7 ,8 8 7 ,6 6 8
11 7 ,0 4 1
R e a l c s t ..m a c ’ y , A c 5 ,8 7 3 ,7 8 0
M a t .A s u p p l .f l n v .) 3 ,4 7 2 ,9 8 5
B ills A a c c t s . r e c . . 1 ,8 4 3 ,3 0 6
C a s h . . . . . ..............
1 8 7 ,0 8 5
11,5 9 5 ,3 9 9
T o t a l .......................1 1 , 3 7 7 , 1 5 6
$
2,215,700
1,535,601
7,844,098
1 1 ,59 5 ,3 9 9
T h e e a r n in g s o f th e s u b s id ia r y co m p a n ie s fo r th e y e a r 19 0 8 w e re : $ 5 9 3 8 6 6 ‘
d iv id e n d s p a id , $ 5 5 0 ,2 9 6 ; b a la n c e , s u r p lu s , $ 4 3 ,5 7 0 . T h e e a r n in g s fo r 19 0 7 w e re
n o t s ta t e d .— V . 8 7 . p . 3 4 5 .
Standard Screw Company.
31 1909.)
President W . B. Pearson, May 12 1909, wrote:
(R e p o r t f o r F i s c a l Y e a r e n d in g M a r c h
D u r in g th e 1 2 m o n th s c o v e re d b y th is re p o rt w e h a v e p a sse d th ro u g h
th e m o s t s e v e r e b u s in e s s d e p r e s s io n t h a t h a s o c c u rre d s in c e th e o r g a n iz a
t i o n o f t h e c o m p a n y , c o n s i d e r i n g w h ic h I a m o f t h e o p i n i o n t h a t t h e n e t
p r o f i t s , a s s h o w n b y t h e a c c o m p a n y i n g s t a t e m e n t s , w ill b e t h o u g h t q u i t e
s a tis fa c to r y .
I t w ill b e o b s e r v e d th a t It h a s b een n e c e s s a r y to d r a w on o u r
s u r p lu s to k e e p u p th e d iv id e n d s , b u t a s th e s u r p lu s w a s a llo w e d to a c
c u m u l a t e l a t e w i t h t h a t p u r p o s e In v i e w , I t h i n k t h a t t h i s c a n o n l y b e c o n
s tr u e d a s s h o w in g t h e w is d o m o f o u r c o n s e r v a t i v e p o lic y .
D u r i n g t h e l a s t t h r e e m o n t h s t h e v o lu m e o f b u s i n e s s h a s b e e n c o n s t a n t l y
I n c r e a s i n g , t h u s e n a b l i n g u s t o e f f e c t a s l i g h t b e t t e r m e n t In p r i c e s , a l l o f
w h ic h l e a d s m e t o p r e d i c t w i t h c o n f id e n c e f o r t h e c o m i n g y e a r r e s u l t s w h ic h
w i l l b o p le a s i n g t o a l l c o n c e r n e d .
IN C O M E AC C O U N T.
1908-09.
1907-08.
134,403
2,052
512,137
2,046
1906-07.
$
723,089
1.933
1005-06.
N e t p r o f i t s ..................... ...........
O t h e r I n c o m e ____________
T o t a l I n c o m e .....................
E x p e n s e s ________________
136,455
42,807
514,183
38,002
725,022
29,660
407,201
29,903
N e t I n c o m e ____________
B o n d I n t e r e s t __________
I n t e r e s t , s p e c i a l _________
93,6^8
11,300
8,843
476,181
11,750
11,684
695,362
11,900
18,294
377,298
12,761
2,916
73,505
452,747
665,168
(6)149,514
(6)149,634
(5)124,695
361,621
92,611
89,344
d e f.1 9 6 ,0 0 9
183,113
‘ 7 2 ,4 10
* 4 2 4 ,8 4 3
* 4 7 3 ,3 4 5
* 3 3 3 ,8 8 2
S u r p l u s ..............................
Total................ 11,536,950 10,684,004
14 ,2 8 4 ,10 2
19 0 8 .
19 0 7 .
L ia b ilit ie s —
S
$
C a p ita l s t o c k . . ..............5 ,0 0 0 ,0 0 0 5 ,0 0 0 ,0 0 0
A c c o u n ts p a y a b l e . . . 12 8 ,8 6 8
15 7 ,4 1 2
S u r p l u s ............................
3 8 ,0 4 0
......................
F lo a t in g d e b t .................1, 3 5 9 ,8 7 6 1 , 2 1 9 , 3 5 1
T o t a l _____ _______ 6 ,5 2 6 ,7 8 4 6 ,3 7 6 ,7 6 4 |
— V . 7 5 , p . 80.
B a l a n c e ________
________
P r e f . d i v i d e n d (6 , „ ) ____
C o m m o n d i v i d e n d _____
67,440
T o t a l ..................... 1 3 , 3 1 1 , 0 8 4
19 0 S .
19 0 7 .
A .??/>/?—
C
*2
9 3 ,8 5 0
9 3 ,7 9 9
R e a l e s t a t e ...................
M a c h in e ry A b l d g s . . 1 , 0 2 9 , 2 9 1 1 , 0 2 7 ,7 0 9
M e r c h a n d is e ________ 7 4 7 ,0 2 6
7 7 4 ,3 4 2
C a s h A d e b ts r e c e lv . 6 1 1 , 6 1 7
4 1 7 ,0 8 9
P a t e n t r i g h t s _______4 ,0 4 5 ,0 0 0 4 ,0 4 5 ,0 0 0
P r o fit a n d lo s s ...................................
1 8 ,8 2 5
5 6 9 ,2 8 6
7 3 5 ,13 2
* 9 3 ,7 5 0
•3 0 7 ,5 0 0
100,000
1 4 ,2 8 4 ,1 0 2
Locomobile Company of America, Bridgeport, Conn,
1 1908 a n d 1907, F i l e d i n M a s s a c h u s e t t s .)
5 7 3 ,0 5 5
8 7 4 ,5 9 5
* 9 3 ,7 5 0
‘ 3 0 7 ,5 0 0
17,525
700,000
19 0 8 .
19 0 7 .
L ia b ilit ie s —
S
$
C a p ita l s t o c k _____ 10 ,5 0 0 ,0 0 0 1 0 ,5 0 0 ,0 0 0
A c c o u n ts p a y a b l e .
3 6 6 ,1 9 6
7 8 5 ,19 2
P r e f . d lv s . p a y a b le
F e b . 1 5 ........... ..
3 0 ,0 0 0
C o m . d lv s . p a y a b le
M arch a n d J u n e
2 5 5 ,0 0 0
4 5 ,8 9 5 P r o fit-s h a r in g f d s .
5 7 .S 3 7
3 ,5 4 4 S u r p l u s ..................... 2 ,4 4 4 ,8 8 9 2 ,6 5 6 ,0 7 3
S
3 ,6 5 1,15 2
1,6 1 4 ,7 6 7
3 ,5 5 6 ,2 2 3
5 ,3 9 8 ,7 4 0
1 3 ,7 7 9
(B a l. S h eet o f J u ly
5 2 6 ,0 0 9
8 2 0 ,0 9 3
* 9 3 ,7 5 0
► 3 0 7 ,5 0 0
629,472 Sundry balances..
100,710 Bills payable........
01,667
19 0 7 .
H eal e sta te, A c . . .
M e r c h a n d is e ...........
C a s h A d e b ts r e c ’ le
I n v e s t m e n t s _____
A d v . In s. A t a x e s .
P l a n t a d d itio n s In
p ro c e ss ................
..............
N e w Y o r k o f fic e ............................
0 0 2 ,7 9 9
4 7 3 ,6 6 0
'9 3 ,7 5 0
'3 0 7 , 5 0 0
T o t a l ........................ 1 1 . 4 3 6 , 9 5 0 10 ,6 8 4 ,0 0 4
- V . 8 6 , p . 18 * 0 .
19 0 S .
5
3 ,7 0 8 ,5 0 7
1,6 9 2 ,5 5 2
2 ,4 9 4 ,0 5 2
5 ,4 0 3 ,4 4 7
12 ,5 2 6
7 1 ,5 17
12 5 ,0 1 1
1,547
069,457
B A L A N C E S H E E T D EC. 3 1.
A s s e ts —
3 ,3 3 3
70 875
13 3 ,17 5
5 ,4 0 2
110,359
18,500
$
Inventories____ _
Niles-Bement-Pond Company.
31 1908.)
The following balance sheets have been filed in the office
of the Secretary of the Commonwealth of Massachusetts:
( B a la n c e S h eet o f D e c .
28,658
4,008
77,734
118,173
8,500
* T h e s e I t e m s h a v e b e e n s u p p l i e d ; t h e y d o n o t a p p e a r In t h e r e p o r t s .
W h a t o t h e r d e d u c tio n s o r c r o d lts th e r e w e re w e d o n o t k n o w .— E d .
A S S E T S A N D L IA B IL IT IE S JU N E 1.
10 0 9 .
1909.
1908.
1008.
L ia b ilit ie s —
$
A s s ets —
$
$
C o a l l a n d s ................. 4 ,2 7 2 ,4 4 0 4,309,918 Common stock . . . 5,125,000 5.125.000
T im b e r la n d s ........... 2 ,0 5 3 ,8 1 6
2,098.659 Preferred stock... 1,875,000 1.875.000
C o a l s h a ft s A b ld g s 1,7 9 4 ,6 8 0
1,841,083 Undivided proflts. 1,427,707 1,376,625
S a w m ills A I m p t s .
2 1 5 ,8 4 9
237,359 Bonds................... 2,061,000 1.805.000
Y a r d s A c q u lp m 't
5 0 ,5 7 8
60,533 Audited blls........
8,408
39,400
68,983 Bond Int. not due.
P e r s o n a l p r o p e r ty
6 4 ,0 9 6
31,187
Sundry accounts..
76,791
117,710
M o. A L a . H U .C o .
66,393
s t o c k ........................
15 0 ,0 0 0
150,000 Pay-roll balances.
26,472
Freight charges un
B on d s,
A c .,
(a
adjusted...........
89,768
79,103
o th e r co m p a n ie s
12 9 ,10 3
78,340
56,819
1,030,601 8lnk. fund for las.
72,912
A c c t s . fo r c o llc c t'n 1,0 0 8 ,6 0 5
C a s h ...........................
S in k in g f u n d ____ _
101
120,000
120,000
120,000
407,201
179,666
B A L A N C E S H E E T M A R C H 3 1.
19 0 9 .
8
19 0 8 .
T o t a l ...........................5 ,8 5 0 ,4 0 8 5 ,8 8 6 ,3 5 5 j
T h e p ro p e r tie s o w n e d a r e :
A u t o m a t i c M a c h in e S c r e w
M a c h in e S c r e w C o . , W a l k e r
D e tr o it S c r e w W o r k s .— V .
LiabilUies
$
A sses—
C o s t o f p r o p e r t i e s .. . 4 ,7 8 5 ,7 4 5 4 ,7 4 7 ,6 2 8
I n v e s t m 't s o th e r c o s .
2,483
1,637
In t r e a s ., c o m p a n ie s
25,000
39,000
deb en . bo n ds, 5 % .
In v e n to r ie s o f fin ish ed
p r o d u c ts , ra w m a 7 19 ,8 0 4
te r a ls , s u p p ., A c . 665,963
A c c o u n ts r e c e lv a b le . 243,200
18 4 ,2 4 7
11,000
2 5 ,0 8 9
N o te s r e c e iv a b le ____
28,810
U n e x p trc d In s u r .,A c .
7 ,7 7 8
1,566
1,15 9
In t . p a id In a d v a n c e .
C ash In b a n k s a n d on
86,641 160,032
h a n d ________ ______
1909.
1908.
—
$
$
P re fe rre d s t o c k ___ - 2 , 000,000 2 , 000,000
C om m on s t o c k ___ ..2,494,003 2,494,000
D e b e n . b o n d s , 5 % .. 249,000
274,000
N o te s p a y a b le ____ -. 291,124
160,000
A c c o u n ts p a y a b le .
119,980
68,808
S u r p lu s ........................ .. 696,38*
889.547
'
i
T o t a l ............................5 ,8 6 0 ,4 0 0 6 ,8 8 0 .3 5 5
C h ic a g o S c r e w C o ., Illin o is S c r e w C o ., W e s t e r n
C o . , W o r c e s t e r M a c h in e S c r e w C o . , H a r t f o r d
A E h r m a n M f g . O o .. l* e a r s o n M a c h in e C o . a n d
8 8 . p . 12 6 0 .
THE CHRONICLE
102
(B a l .
S heet J a n .
American Book Company.
21 1909 a n d 1908, F i l e d i n
M a s s a c h u s e t t s .)
19 0 9 .
19 0 S .
19 0 9 .
19 0 S .
L ia b ilit ie s —
S
S
A s s e ts —
$
S
3 0 0 ,6 0 0
3 2 0 ,8 9 0 C a p ita l s t o c k _________ 5 ,0 0 0 ,0 0 0 5 ,0 0 0 ,0 0 0
R e a l e s t a t e _________
M a c h in e r y __________ 3 3 1 , 9 5 6
1 8 4 ,1 7 9 A c c o u n ts p a y a b l e ___ 3 5 0 ,7 8 2
2 5 9 ,1 9 5
M a te ria l ..........................1 ,2 0 2 ,0 8 0 1,0 0 5 ,5 8 6 B o n d s a n d a c c r u e d
C a s h & d e b ts r e c c l v . 1 , 8 5 2 ,3 7 0 2 ,0 10 ,8 6 9
I n t e r e s t ____________ 2 , 1 5 8 , 7 9 5 2 ,2 6 8 ,3 3 5
P u b lis h in g r i g h t s ,& o .5 ,0 0 0 ,0 0 0 5 ,0 0 0 ,0 0 0 S u r p lu s ______________ 1 , 1 7 7 , 4 2 9 1,0 0 0 ,0 0 0
T o t a l ........... ...............8 ,6 8 7 ,0 0 6 8 ,5 2 7 ,5 3 0
— V . S 3 , d. 2 3 0
T o t a l ............................8 ,6 8 7 ,0 0 6 8 ,5 2 7 ,5 3 0
Electric Properties Company.
( R e p o r t f o r F i s c a l Y e a r e n d in g A p r i l 30 1909.)
The report, signed by Treasurer John Seager, shows:
12 M os.
19 0 8 -0 9 .
I n t e r e s t a n d d i v i d e n d s , A o ____________________ $ 1 7 1 , 1 1 0
8 ,9 7 5
M i s c e l la n e o u s _____________________________________
P r o f i t o n s a l e o f s e c u r i t i e s ______________________
5 1 ,10 3
12 M os.
11 M os.
19 0 7 -0 8 .
19 0 6 -0 7 .
$ 2 7 7 ,7 2 3 1 $ 3 8 8 ,2 4 8
2 ,9 4 8 J
---------------------
T o t a l ..................... ...................... ................................. ........... $ 2 3 1 , 1 8 8
$ 2 8 0 ,6 7 1
S a la r ie s , le g a l e x p e n s e s , t a x e s a n d g e n e r a l
$ 8 7 ,2 0 0
m i s c e l l a n e o u s e x p e n s e s _______________________ S 5 5 . 3 2 7
D i v i d e n d s — P r e f e r r e d s t o o k ______________(4
1 3 5 , 6 6 9 (6) 1 7 9 , 3 4 4
C o m m o n s t o c k _____________________ ________
_______
S u r p l u s __________________________________________
$ 4 0 ,19 2
$ 1 4 ,1 2 7
$ 3 8 8 ,2 4 8
$ 10 4 ,7 4 4
1/ 12 8 ,0 5 7
1/ 120,000
[VOL. L X X X I X
Central New England Ry.— E x t e n s i o n o f B o n d h o l d e r s ’
(C. S.W. Packard of Philadelphia,
Chairman,) representing the minority general mortgage in
come bonds, is asking a one-year’s extension of the deposit
agreement, which expires Aug. I next. A circular dated
July 1 says in part:
A g r e e m e n t . — Thecommittee
Y o u r b o n d s , a n d th e m o r tg a g e s e c u r in g t h e m , p r o v id e t h a t h o ld e r s o f
a m a j o r i t y m a y a g r e e t o t h e s u b s t i t u t i o n o f a b o n d a t a fix e d r a t e o f I n t e r e s t
f o r t h e In c o m e b o n d s .
T h e N e w H a v e n r o a d w ill a t t e m p t t o r e d u c e t h e
In te re st o n th e s e b o n d s fro m 5 % to 4 % o r le s s , to th e a d v a n t a g e o f th e b o n d s
w h ic h i t a s k s f o r u n d e r t h e n e w m o r t g a g e a n d t o t h e d e t r i m e n t o f h o l d e r s
w h o h a v e n o o t h e r i n t e r e s t In t h e p r o p e r t y .
T h e r e Is n o q u e s t i o n t h a t t h i s
Is I l l e g a l .
,
, „
T h e N e w H a v e n C o m p a n y , w h e n b e fo r e t h e P u b lic S e r v ic e C o m m is s io n ,
c o u ld n o t d e n y t h a t t h e r o a d Is a b l e t o p a y 5 % o n t h e g e n e r a l m o r t g a g e
b o n d s , a m o u n t i n g t o $ 3 6 2 , 5 0 0 p e r a n n u m , w h ile a s k i n g f o r a n I m m e d i a t e
is s u e o f $ 9 , 5 3 3 , 0 0 0 b o n d s , o n w h ic h I n t e r e s t a t 4 % w o u ld a m o u n t t o $ 3 8 1 ,
.3 2 0 p e r a n n u m .
Y o u r c o m m i t t e e s h o w e d t o t h e C o m m is s io n t h a t t h e r e
c a n n o t b e m o re th a n $ 9 1 1 ,8 7 6 o f g e n e ra l m o rtg a g e b o n d s n o t o w n e d b y
th e N e w H a v e n ro a d .
,
I f t h e P u b l i c S e r v i c e C o m m is s io n d o e s n o t a f f o r d r e l i e f , It Is a t l e a s t
lik e ly to d isp o s e o f th is a p p lic a t io n w ith s u c h a n e x p r e s s io n o f o p in io n a s
w ill c o n v in c e th e N e w H a v e n ro a d t h a t it s s c h e m e c a n n o t s u c c e e d .
But
t h e C o m m i s s i o n ’s d e c is io n m a y n o t b e r e n d e r e d b y A u g . 1 1 9 0 9 . Y o u r c o m
m it t e e , t h e r e fo r e , a s k a n e x te n s io n o f th e t im e o f th e d e p o s it a g r e e m e n t t o
A u g . 1 1 9 1 0 , a n d w ill b e p le a s e d t o r e c e i v e y o u r f o r m a l a s s e n t , b u t w ill a s
s u m e t h a t s u c h a s s e n t Is g i v e n u n le s s b e f o r e A u g . 1 1 9 0 9 y o u a d v i s e t h e m
t h a t t h e p r o p o s i t i o n Is n o t s a t i s f a c t o r y t o y o u . — V . 8 8 , p . 1 0 6 0 . 1 0 0 1 .
$ 3 5 ,4 4 7
Central Terminal Co,, Chicago.— N e g o t ia t i o n s R e n e w e d —
The negotiations for the amalgamation of the elevated rail
roads of Chicago on lines substantially as suggested under
the heading of this holding company, V. 88, p. 1252, 1312,
have been renewed, and it is said stand better chances oJ
$
$
6 000,000 success, large stockholders of the South Side Elevated
disapproving the action of the board of directors of that
company in turning down the proposition recently made.
7 000,000
— V. 88, p. 1252, 1312.
Chicago Consolidated Traction Co.— R e c e iv e r s h i p to I n c l u d e
C h ic a g o & N o r t h S h o r e S tr e e t R y . — R e c e i v e r ’ s C e r t i f i c a t e s . Judge Grosscup on July 1 extended the receivership of
T o t a l ........................ 10 ,0 8 0 ,9 8 1 10 ,1 0 4 ,5 8 9
T o t a l ............... . . . . 1 0 , 0 8 0 , 9 8 1 10 ,1 0 4 ,5 8 9
David It. Forgan and John M. Roach to include the lines of
♦ A c c o u n ts re o e tv a b lc c o n s iste d o f c u r re n t a c c t s ., $ 4 7 ,7 6 5 , s e c u re d b y c o n t r a c t ,
the Chicago & North Shore Street R y., and authorized the
$ 8 5 ,14 0 .— V . 8 8 , p . 2 9 7 .
receivers to issue receivers’ certificates to raise money to
make improvements on the lines. The paving required by
GENERAL IN VESTM EN T NEW S.
the city on the North Clark St. line, it is said, will cost
$123,000, while about $45,000 will have to be expended on
RAILROADS INCLUDING ELECTRIC ROADS.
the Evanston Avc. line.— V. 88, p. 1559.
Alabama Great Southern RR.— L i s t e d . — The London
Chicago & North Shore Street Ry.— R e c e i v e r s h i p . — See
Stock Exchange has granted quotation on the official list Chicago Consolidated Traction Co. above.— V. 87, p. 1478.
to a further issue of £100,000 5% general mortgage bonds of
Cincinnati & Columbus Traction Co.— E x t e n s i o n o f B o n d s .
£100 each, Nos. 10,601 to 11,600.— V. 88, p. 1559, 1312.
— A majority of the holders of the $600,000 first mortgage
Anderson (S. C.) Traction Co.— S a l e O c t. 12.— In accord 5% bonds that fell due July 1 1909 have, it is stated, con
ance with the decree filed by the United States Circuit Court sented to an extension of the time of payment to Jan. 1
for the District of South Carolina on June 19, in the suit 1910 at 6% interest. President Hoffman is quoted as saying
brought by the International Trust Co. of Maryland, J. A. that this extension is desired because of negotiations for
Brock, special master, Anderson, S. C., announces that he the sale of the road to the projected Southwestern Ohio
will offer the property for sale at public auction, to the Traction Co. The latter is expected to include also the
highest bidder, in the City of Anderson, on October 12.
Cincinnati Milford & Loveland Ry. and the Interurban Ry.
T h e p r o p e r t y c o n s i s t s o f t h e t r o l l e y li n e n o w i n o p e r a t i o n In t h e c i t y
& Terminal Co. John E. Bleekman of New York, President
a n d s u b u r b s o f A n d e r s o n a n d t h e I n t e r u r b a n t r o l l e y lin e r u n n i n g fr o m
A n d e rs o n to B e lt o n , th e P u b lic P a r k (27 a c r e s o f la n d ) , p o w e r-h o u se , A c .
of the proposed company, was on April 27 quoted as saying:
1/ D i v i d e n d s In 1 9 0 6 - 0 7 I n c lu d e d i s t r i b u t i o n s a t t h e r a t e o f 6 % p e r y e a r
o n p r e fe r r e d a n d 2 % o n th e c o m m o n s to c k .
B A L A N C E S H E E T A P R I L 30.
19 0 9 .
19 0 8 .
19 0 8 .
19 0 9 .
L ia b ilit ie s —
S
A ssets —
S
,
C a s h ............................
4 5 8 ,7 6 8 C o m m o n s t o c k ___ 6 ,0 0 0 ,0 0 0
3 8 2 ,1 8 3
3 ,9 2 0 ,2 0 0
9 2 4 ,3 0 0 Preferred s t o c k ___ 3 ,9 2 0 ,2 0 0
S u b s , to p r e f. s t k .
8 9 4 ,8 5 2
Dividend on prof.,
S u b - c o . (W estin g due May............
4 5 ,3 3 3
13 4 ,8 15
h o u se , C h u rch ,
Accounts payable
,
K e r r & C o .) ____ 7 ,0 0 0 ,0 0 0
—-Westlnghouse,
1,2 9 9 ,2 0 4
In v e s t m ’ t s e c u r’a . 1 , 3 2 1 , 0 4 1
Church, Kerr &
17 0 ,0 0 0
N o te s r e c e iv a b le . .
3 5 0 ,0 0 0
2 5 ,6 8 3
C o ...........................
2 5 2 ,3 1 7
A c c t s . r e c e iv a b lo .. * 1 3 2 , 9 0 5
Surplus..................
8 9 ,7 6 5
4 9 ,5 7 4
C o m p a re V . 8 6 , p . 1 1 5 8 , 6 0 1.— V . 8 8 , p . 7 4 7 .
Atlanta Birmingham & Atlantic RR.— R e c e i v e r ’ s C e r t i f i
ca te s S o l d . — Clark, Dodge & Co. and Moffat & White have
purchased the $3,250,000 2-year 5%_ receiver’s certificates
recently authorized, due July 1 1911 (interest J. & J. at the
Farmers’ Loan & Trust Co., New York), subject to call at
par at the discretion of the receivers on 90 days’ notice. De
nomination $1,000 each. See V. 89, p. 40.
T h e d e c r e e o f J u d g e P a r d e e p r o v i d e s t h a t t h e c e r t i f i c a t e s s h a l l b o a f ir s t
lie n o n t h e e n t i r e s y s t e m . I n c lu d in g t e r m i n a l s , s u b j e c t o n l y t o t h e $ 4 ,0 9 0 ,0 0 0
A tla n t a & B ir m in g h a m 5 % b o n d s o f 1 9 0 1 . T h e y r a n k a h e a d o f th e 8 1 4 ,4 3 4 ,
0 0 0 A t l a n t a B i r m i n g h a m & A t l a n t i c f ir s t 5 s a n d $ 3 , 0 0 0 , 0 0 0 G e o r g i a T e r m !
n a l firs t 5 s a n d $ 2 ,2 4 5 ,0 0 0 A la b a m a T e r m in a l llr s t 5 s a n d a r e th e re fo re a
l l r s t lie n o n 3 0 3 .8 m ile s o f r o a d a n d o n t e r m i n a l p r o p e r t i e s c o s t i n g , w i t h
I m p r o v e m e n t s , $ 4 , 2 1 1 , 3 1 7 , a n d a H en o n 3 3 4 . 2 m ile s o f a d d i t i o n a l r o a d
s u b l e c t t o t h e b o n d s l l r s t m e n t io n e d .
B v a s u p p l e m e n t a l d e c r e e o f t h e C o u r t , It Is p r o v i d e d t h a t n o o t h e r Is s u e
o f c e r tific a t e s s h a ll b e c r e a t e d e x c e p t o n c o n d itio n t h a t s u c h is su e s h a ll p r o
v i d e f o r t h e d i s c h a r g e In f u l l , o u t o f t h e p r o c e e d s t h e r e o f , o f t h e p r e s e n t
is s u e .— V . 8 9 , p . 4 0 .
Baltimore & Ohio RR.— T o R a t i f y P l a n . — The shareholders
will vote Aug. 10 on approving “ the action of the President
and directors in respect of the purchase by this company
of the stock of the Cincinnati Hamilton & Dayton Ry. Co.
and in respect of the guaranty or purchase by this company
of the following bonds or other evidences of indebtedness of
said Cincinnati Hamilton & Dayton Ity. Co., to wit: Its
‘ first and refunding mortgage’ 4% 50-year gold bonds; its
purchase money collateral trust 4% gold notes and its gen
eral mortgage 4% coupon guaranteed bonds.
(See plan in
V. 8 8 , p 1 4 3 6 , 1 4 9 8 , 1 6 1 9 0 - V . 8 8 , p . 1 3 1 ? i 9 6 0 .
Boston & Albany RR.— G u a r a n te e d B o n d s O f f e r e d . — R. L.
Dav & Co., Estabrook & Co. and Kidder, Peabody & Co.
are offering, at 101)^ and interest, yielding over 3.90, the
unsold portion of the issue of $4,500,000 4% bonds due
May 1 1934. Interest payable M. & N. Coupon bonds, in
denomination of $1,000, may be exchanged for registered
certificates in denominations of $1,000, $5,000 and $10,000,
which may, at the option of the holder, be re-exchanged into
coupon bonds. Principal and interest guaranteed by en
dorsement on each bond by New York Central & Hudson
River R R. Co., which in 1900 leased the property for 99
years for interest on bonds, taxes, expenses of maintenance
and guaranteed dividends of 8% on its $25,000,000 of stock.
Legal investment for Massachusetts savings banks.
T h e p r o c e e d s o f t h e I s s u e w ill b e u s e d f o r v a r i o u s I m p r o v e m e n t s , c h i e f l y
f o r t e r m i n a l f a c i l i t i e s a t B a s t B o s t o n , w h e r e t h e c o m p a n y w ill e r e c t t w o n e w
p i e r s f o r t h e C u n a r d a n d L e y l a n d li n e s , a n e w g r a i n e l e v a t o r , c o n v e y a n c e s ,
a n d o t h e r I m p r o v e m e n t s , u p o n w h ic h $ 2 , 6 2 2 , 1 9 3 w ill b e s p e n t .
E n la r g e
m e n ts o f y a r d s a t R iv e r s id e , B e a c o n P a r k , W e st S p r in g fie ld a n d E a s t
B o s t o n will require $ 6 4 7 , 0 0 0 . — V . 8 8 , p . 1 4 3 6 , 1 0 6 0 .
T h e S o u t h w e s t e r n O h io T r a c t i o n C o . h a s a n o m i n a l c a p i t a l o f o n l y
$ 1 0 ,0 0 0 , b u t th e r e w ill e v e n t u a lly b e $ 3 ,0 0 0 ,0 0 0 o f p r c fe r r e il s t o c k , $ 1 0 ,
0 0 0 ,0 0 0 c o m m o n s t o c k a n i l $ 1 2 , 0 0 0 , 0 0 0 o f b o n d s .
I t Is t h e I n t e n t i o n t o
e x t e n d f r o m L e b a n o n t o S p r i n g f i e l d , e i t h e r b y p u r c h a s i n g lin e s n o w in
o p e r a t i o n o r b y t h e c o n s t r u c t i o n o f a n I n d e p e n d e n t lin e .
A n e x te n s io n
w i l l a l s o b e b u i l t e i t h e r fr o m H i l l s b o r o o r B l a n c h e s t e r t o C o l u m b u s , a n d
w h e n t h e A n a l p la n s a r e c o n s u m m a t e d t h e c o m p a n y w i l l f o r m a d i r e c t
a n d s h o r t lin o f r o m C i n c i n n a t i t o C o l u m b u s , 1 0 3 m ile s ; S p r l n g i l e l d , 7 0 m i l e s ;
B l a n c h e s t e r . 3 5 m ile s ; H i l l s b o r o , 5 9 m ile s ; B e t h e l , 3 2 m ile s ; N e w R i c h m o n d ,
2 1 m ills ' G e o r g e t o w n , F e lic it y a n d R u s s e lv llle , 6 5 m ile s .
I t is e x p e c t e d
t h a t e v e n t u a lly th e c o m p a n y w ill e m b r a c e u p w a r d o f 4 0 0 m ile s , a ll le a d in g
t o C in c in n a ti.
T h e c o m p a n y h a s a s k e d C in c in n a ti fo r a fr a n c h is e f o r t h e
n riv llo tro o f u sln i? e i t h e r P e a r l S t . o r T h i r d S t . a s a n e n t r a n c e .
P G e o r z e H** W o r t h I r S t o u o f C l e v e l a n d h a s b e e n e l e c t e d C h a i r m a n o f t h e
b o a r d . S A m o n g t h e C i n c i n n a t i d i r e c t o r s w illl b e C h a r l e s H - J ^ s . J . M .
H u t t o n G e n . L e w i s S c a s o t u ? o o d , H c n i.v H . H l i f t m a n a n a P r o b a D i y « . n .
K ro trc r o r s o m e r e p r e s e n ta t iv e o f th e K r o g e r lin e .
A m o n g th e N ew Y o rk
d l r e f c w i n b o W ? L ? M o y e r . A . S . W h i t e P ^ i d e n t o f t h e C o lu m b U ,. G a s
& E l e c t r i c C o .: S a m u e l M . J a r v i s , a n d J a c o b L . G i e a t s i n g e r , a s w e l l a s t h e
r e p r e s e n ta t iv e s o f o n e o r tw o I m p o r t a n t t r u s t c o m p a n ie s .
V . 8*>, p . o 9 0 .
Cincinnati Hamilton & Dayton Ry. R e a d ju s t m e n t o f
special meeting of the stockholders has been called
for Aug. 10 in order to obtain their approval of the plan and
of the new mortgages intended to be given. (V. 88, p. 143b,
1498, 1619.) Thomas J. Walsh, Secretary of the company,
made the following statement:
D e b t .— A
T h e p la n o f r e a d j u s t m e n t h a s r e c e i v e d t h e . a P D * ° v “ ]
^
J" ? ?
j o r l t v o f th e c r e d ito r s o f th e c o m p a n y , a n d
S*®®8
m a v b e c a r r ie d th ro u g h w ith o u t a fo r e c lo s u r e s a le o f th e p r o p e r t y .
if so,
th e c a s s e n t o f a m a j o r i t y o f t h e s t o c k h o l d e r s w i l l a ! s o b
e
be f or e th e
,d n n pun
n n r r lr d o u t ju u l t h i s i n v o l v e s , u n d e r t u t w iiio l a w s , a o u - d a y
a d v e r tis e m e n t.
In o r d e r to s a v e d e la y o n a c c o u n t o f t h a t r e q u ir e m e n t
o f t h e l a w a n d b e r e a d y f o r c o r p o r a t e a c t i o n In c a s e l e q u l s l t c f u r t h e r a s s e n t s
o f c r e d it o r s a r e g iv e n , th e d ir e c t o r s h a v e a u t h o r iz e d th e c o m m e n c e m e n t
n f D m 3 0 - d a v D u p l i c a t i o n a t t h is t i m e .
I n c a s e re q u is ite fu r th e r a s s e n ts
o f c r e d it o r s a r e n o t g iv e n , th e m e e tin g c a n b e a b a n d o n e d , a n d th e re w ill
t h e n h a v e t o b e a r e o r g a n i z a t i o n t h r o u g h a s a l e u n d e r m o r t g a g e f o r e c lo s u r e
o r o t h e r ju d ic ia l p r o c e e d in g .— V . 8 8 , p . 1 6 1 .) .
Coney Island & Brooklyn RR.— F a r e D e c i s i o n .— The Pub
lic Service Commission, First District, acting on a complaint
of taxpayers filed over a year ago, who claimed that the
double (ten-cent) fare on Saturdays, Sundays and holi
days charged by the company is unreasonable, on July 3,
in a unanimous decision (opinion by Commissioner Bas
set), held that the company is justified in charging a
10-cent fare on those days, but that 5-cent fares on other
days is sufficient. No order, however, reducing fares was
made. A new complaint was filed on July 7 by a taxpayer,
protesting against the continuance of the 10-ccnt tare on
week days, which went into effect on Aug. 31 1908, and it
is thought likely that the Commission will issue an order
from which an appeal will be taken to the courts.
A decision on the complaint against the Brooklyn Rapid
Transit Co. is still pending, having been long delayed, owing
to the complicated nature of the evidence.
THE CHRONICLE
J u l y 1 0 1 9 0 0 .)
T h e r e v e n u e fr o m th e a d d it io n a l 5 c e n ts a s k e d b y th e c o m p a n y o n S a t u r
d a y s , S u n d a y s a n d h o lid a y s d u r in g th e fis c a l y e a r e n d in g J u n e 3 0 1 9 0 7 , it is
h e l d , a m o u n t e d t o $ 9 4 , 7 2 5 , t h e s u r p l u s o v e r c h a r g e s h a v i n g b e e n S 8 l ,0 4 ;> ,
s o t h a t , i f t h e c o m p a n y h a d n o t c o l l e c t e d t h e a d d i t i o n a l f a r e , i t w o u ld n o t
h a v e b e e n a b l e t o m e e t I t s f ix e d c h a r g e s .
T h e r e v e n u e s d e r iv e d fr o n i s e c o n d ,
o r C o n e y I s l a n d , f a r e s In t h e y e a r e n d i n g J u n e 3 0 1 9 0 8 a r e s t a t e d a s $ 8 9 , 7 7 0 .
T h e o p in io n s a y s :
,
" A 5 - c e n t f a r e e v e r y d a y I n t h e w e e k w o u ld n o t p r o d u c e a p r o p e r r e t u r n
o n t h e v a l u e o f t h e r o a d p lu s a s u f f i c i e n t a m o u n t t o b r i n g I t u p t o d a t e ,
w h ic h a m o u n t m u s t b e e x p e n d e d b y t h e c o m p a n y .
T h e C o m m is s io n d i s p u t e s t h e c l a i m t h a t t h e e n t i r e C o n e y I s l a n d b u s i n e s s
. Is c o n d u c t e d a t a lo s s , fi n d i n g t h a t t h e i n c r e a s e d c o s t o f o p e r a t i o n d u r i n g t h e
s u m m e r w a s o n ly $ 1 6 , 9 1 3 p e r m o n t h , w h ile g r o s s e a r n in g s in c re a s e d $ o 4 ,7 o 2 .
I n a n s w e r t o t h e c l a i m t h a t t h e C o n e y I s l a n d t r a f f i c Is p u r e l y a s u m m e r
b u s in e s s , a n d t h a t , th e r e fo r e , t h e c o m p a n y s h o u ld e a r n th r ic e th e fix e d
c h a r g e s o f o r d i n a r y t r a f f i c , t h e C o m m i s s i o n f in d s t h a t t h e o p e r a t i n g c o s t
o f s u m m e r t r a f f i c Is le s s t h a n t h a t o f w i n t e r , a n d t h a t t h e e x t r a e q u i p m e n t
n e e d e d fo r ru s h h o u rs a n d r e g u la r s u m m e r c r o w d s w o u ld g o f a r to w a r d
m e e tin g th e s p e c ia l n e e d s o f th e C o n e y I s la n d b u s i n e s s .— V . 8 7 , p . 1 1 5 9 .
103
c o u p l e o f y e a r s , a n d r e s u l t in o n l y a w a s t e o f t i m e , l a b o r a n d e x p e n s e .
The
S u p r e m e C o u r t m u s t u l t i m a t e l y b e t h e a r b i t e r , a n d It I s f a r b e t t e r f o r b o t h
th e S t a t e a n d th e d e fe n d a n t t h a t w e a w a it t h e d ir e c tio n o f t h a t O o u rt.
I f t h e S t a t e Is e n t i t l e d t o a n a c c o u n t i n g , t h e a d v i c e o f t h e S u p r e m e C o u r t
Is d e s i r a b l e b e f o r e o n e Is b e g u n .
T h e a c c o u n tin g s o u g h t c o v e rs a p e rio d o f
3 0 y e a r s , a n d I t Is e s t i m a t e d a n d a v e r r e d In t h e b i l l o f c o m p l a i n t t h a t t h e
b o o k s , p a p e r s a n d v o u c h e r s a l o n e p e r t a i n i n g t o s u c h a n a c c o u n t i n g w o u ld
c o c c u p y t n e e n tir e s p a c e o f 6 0 m o d e rn f r e ig h t c a r s .
T h e c h a r t e r re la tio n o f th e c o m p a n y to tn e S t a t e o f Illin o is h a s b e e n a
p o in t o f p u b lic c o n te n tio n f o r t h e la s t h a lf c e n t u r y .
D u rin g a p o rt o f t h a t
tim e th e m a t t e r h a s r e c e iv e d t h e a t t e n t io n o f p o lit ic a l p a r t ie s , a n d 4 0 y e a r s
a g o I t w a s m a d e t h e s u b j e c t o f a p r o v i s i o n In t h e S t a t e C o n s t i t u t i o n .
In
v i e w o f t h e h i s t o r y o f t h i s c o n t r o v e r s y , I t Is a p i e c e o f f o l l y f o r a n y o n e t o
e v e n h o p e t h a t th e re p o rt o f a n a c c o u n ta n t a p p o in te d b y m e c a n q u ie t o r
p u t to r e s t t h is lit ig a t io n .
N e i t h e r t h e S t a t e n o r t h e d e f e n d a n t w o u ld a c
c e p t a s c o n c lu s iv e a n y d is p o s itio n o f th e c a s e t h a t t h is C o u r t a n d It s M a s t e r
In C h a n c e r y c a n m a k e .
T h e S t a t e c a n m a k e n o b e t t e r c a s e b y Its p r o o f t h a n It h a s m a d e b y th e
b ill o f c o m p l a i n t , a n d I w i l l , t h e r e f o r e , w i t h o u t s e e k i n g a n y e x c u s e f o r s o
d o i n g , a s s i s t c o u n s e l In a c c o m p li s h i n g t h a t w h i c h t h e y f a i l e d t o a c c o m p li s h
w h e n t h e y f ile d t h e i r f i r s t b i l l o f c o m p l a i n t In t h e S u p r e m o C o u r t . — V . 8 8
p . 15 6 0 , 1 1 2 7 .
Eastern Pennsylvania Railways Co,— B o n d s O f fe r e d —
Christensen, Philadelphia, is offering, at 93
and interest, yielding 5 } 4 % , the unsold portion of a block of
Illinois Tunnel Co., Chicago.— O r d i n a n c e P a s s e d . — The
$100,000 first mortgage 5% gold bonds, dated 1906 and due Chicago City Council on June 28 passed the ordinance pro
July 1 1936, but subject to call at 110 and interest. Par viding that the company shall have until June 1 1911 to in
$500 and $1,000 (c* ). Central Trust Co., New York, trustee. stall 20,000 telephones and shall not sell its rights before
Interest payable in New York City J. & J. These bonds are Jan. 1 1911 without further permission. See also V. 88,
part of an authorized issue of $6,000,000, of which $3,002, p. 1620.
500 arc outstanding. Stock issued, common, $4,000,000;
Interborough Rapid Transit Co., New York.— B o n d s O f
preferred, $974,900.
f e r e d . — J. P. Morgan & Co., New York, and Lee, Higginson
E xtracts from Letter by J. (1. W hite & C o ., Qcncral M anagers o f C om pany.
& Co., Boston, New York and Chicago, offered this week, at
T h e s e b o n d s a re a n a b s o lu te fir s t m o rtg a g e o n a ll th e p r o p e r ty o f th e c o m
and interest and promptly sold (sec advertisement
p a n y , a n d ,'t h r o u g h o w n e r s h i p o f a l l o r a l a r g e m a j o r i t y o f t h e s t o c k s a n d
published for record op another page), $10,000,000 45-year
s e c u r it ie s , o n a ll th e p r o p e r tie s o f 1 9 r a ilw a y , e le c t r ic lig h tin g a n d g a s c o m
p a n i e s ( se e l i s t In “ E l e c t r i c R a i l w a y ” S e c t i o n , p a g e 9 8 , a n d m a p o n p a g e 9 9 ) .
5% gold mortgage bonds, Series A, dated Nov. 1 1907
T h e t e r r i t o r y g e n e r a l l y Is In t h e S c h u y l k i l l V a l l e y , u n d e r l y i n g w h i c h a r e
and due Nov. 1 1952, but redeemable for the sinking
t h e l a r g e s t a n d r lo h e s t a n t h r a c i t e c o a l d e p o s i t s n o w k n o w n t o e x i s t , a n d
w h i c h e x t e n d f r o m M in e r s v llle o n t h e w e s t t o M a u c h C h u n k o n t h e c a s t ,
fund or on any interest day, in blocks of not less than $1,
a d is t a n c e o f a p p r o x i m a t e ly 4 5 m ile s .
T h e p r in c ip a l c it ie s a n d b o r o u g h s
000,000, at 105% and accrued interest. Coupon or regis
s e r v e d a r e P o t t s v llle , T a m a q u a , M a u c h C h u n k , L a n s f o r d , N e s q u e h o n ln g ,
M i n e r s v l l l e , F r a c k v l l l e , G l l b c r t o n , G I r a r d v i l l e , M ld d l c p o r t , S t . C l a i r , P o r t
tered bonds, interchangeable; denomination $1,000-or multi
C a r b o n , P a lo A lt o , Y o r k v llle , S c h u y lk ill H a v e n , O r w ig s b u r g , T u s c a r o r a ,
ples. Tax-exempt in New York State. Interest M. & N.
C u m b o la a n d M o u n t C a r b o n .
I n a d d itio n to t h e a n t h r a c it e c o a l I n d u s t r y ,
t h e g e n e r a l m a n u f a c t u r i n g b u s i n e s s o f t h e c o m m u n i t i e s Is a t p r e s e n t l a r g e
Morton Trust Co., trustee. Outstanding (including pres
a n d v a r ie d .
ent issue), $11,590,000; pledged as security for 6% notes,
T h e c o m b in e d r a i l w a y s y s t e m , h a v i n g a m a in l in e f r o m P o t t s v l l l e t o
M a u c h C h u n k , a n d v a r i o u s lin e s d i v e r g i n g f r o m P o t t s v l l l e , h a s a p p r o x i
$28,108,800; issuable for additional properties, $15,301,200;
m a t e l y 7 0 m ile s o f t r a c k , l a i d w i t h 6 0 - lb . a n d 7 0 - l b . r a i l .
T h e l in e b e t w e e n
total authorized issue, $55,000,000.
T a m a q u a a n d M id d le p o r t (8 m ile s ) Is a n e w d i v i s i o n , w h i c h b e g a n o p e r a t i o n
A simultaneous issue was made in Londtm by J. S.
M a r c h 1 1 9 0 8 , s in c e w h i c h t i m e n o t o n l y v e r y s a t i s f a c t o r y r e s u l t s h a v e b e e n
o b t a i n e d f r o m t h i s d i v i s i o n , b u t a s It c o m p l e t e s a t h r o u g h li n e f r o m P o t t s
Morgan & Co. and Messrs. Higginson & Co.
v llle t o M a u c h C h u n k , t r a f f ic h a s In c re a se d o v e r th e w h o le r o u t e , a n d th e
S t a t u s . — Julius
a d v a n t a g e s o f t h r o u g h - l i n e o p e r a t i o n s a r e s h o w n In I n c r e a s e d e a r n i n g s e a c h
m o n th .
T h e g r e a te r p a r t o f th e sy s te m h a s been re c o n str u c te d .
N ew ro ll
i n g e q u i p m e n t h a s b e e n p la c e d in s e r v i c e , a n d t h e f o r m e r e q u i p m e n t h a s
b e e n l a r g e l y o v e r h a u le d a n d r e c o n s t r u c t e d .
T h e r a ilw a y s o p e ra te p r in c ip a lly o v e r p r iv a t e r ig h t - o f- w a y , a n d a ll f r a n
c h is e s a r e
p r a c t ic a lly p e r p e tu a l.
A ll c o n t r a c t s w it h m u n ic ip a lit ie s fo r
p u b lic lig h tin g , w ith o n e e x c e p tio n , a r e fo r a t e r m o f te n y e a r s , a n d th e
p r e s e n t u n e x p lr c d te rm s a r e m o re th a n s e v e n y e a r s .
F a ir a n d sta n d a rd
r a t e s f o r l i g h t i n g a n d p o w e r a r e In e f f e c t t h r o u g h o u t t h e t e r r i t o r y .
A n a d d it io n a l p o w e r s t a t io n , h a v in g a c a p a c i t y o f 3 ,0 0 0 h . p ., w a s c o m
p le t e d In N o v e m b e r 1 9 0 7 , a n d f r o m t h i s a n d t h e r a i l w a y p o w e r s t a t i o n a t
P a lo A lto e le c t r ic c u r r e n t Is d is t r ib u t e d th ro u g h s u b s t a tio n s , fo r lig h t in g ,
p o w e r a n d r a ilw a y p u r p o s e s , to t h e s u b s id ia r y c o m p a n ie s .
N ew t r a n s m is
s io n l i n e s f o r l i g h t i n g a n d p o w e r h a v e b e e n e r e c t e d , o l d lin e s o v e r h a u l e d
a n d r e c o n s t r u c t e d , a n d m o d e r n s t r e e t - l i g h t i n g s y s t e m s I n s t a l l e d In t h e
v a r io u s m u n ic ip a litie s .
A n e w g a s p la n t h a s b e e n e r e c t e d a t T a m a q u a ,
a n d m a n y a d d it io n a l m a in s la id .
O f th e b o n d s n o w o u ts ta n d in g , a p p r o x im a te ly $ 1 ,2 5 0 ,0 0 0 h a v e b een u se d
t o p a y in p a r t f o r t h e n e w p o w e r s t a t i o n , f o r t h e n e w T a m a q u a - M I d d l e p o r t
In tc r u r b a n r a ilw a y d iv is io n , a n d fo r o th e r e x te n s io n s . Im p ro v e m e n ts a n d
b e tte rm e n ts to th e s y s te m .
O f th e r e m a in in g b o n d s , $ 3 9 4 ,0 0 0 a r e r e s e r v e d
to r e t ir e a lik e a m o u n t o f u n d e r ly in g b o n d s , w h ic h a r e a ll o f th e u n d e r ly in g
H e n s o u t s t a n d i n g , w i t h t h e e x c e p t i o n o f $ 4 0 , 5 0 0 , t h e r e t i r e m e n t o f w in c h
h a s b e e n o t h e r w i s e p r o v i d e d f o r ; a n d t h e b a l a n c e Is a v a i l a b l e , u n d e r t h e
t e r m s o f th e m o r t g a g e , fo r e x te n s io n s a n d Im p r o v e m e n ts u n d e r s u it a b le
r e s t r ic t io n s .
N o t w it h s t a n d in g th e a d v e r s e b u s in e s s c o n d itio n s d u r in g t h e p a s t y e a r ,
th e c o m p a n y re p o rts:
Mat E a r n i n g s l o r th e 1 2 M o n t h s e n d in g M a g 3 1 1 9 0 9 a n d M a y 3 1 1 9 0 8 .
19 0 8 -0 9 . 19 0 7 -0 8 .
19 0 8 -0 9 . 19 0 7 -0 8 .
G r o s s e a r l i n g s . . $ 5 7 8 , 0 7 3 $ 5 2 5 , 2 7 9 N e t e a r n i n g s ______ $ 2 3 4 , 4 9 7 $ 1 8 9 , 4 1 9
O p . e x p & t a x e s . 3 4 4 ,17 6
3 3 5 ,8 6 0 B o n d In t. & r e n t ’s 1 8 8 ,1 9 0
1 4 5 ,1 6 8
U p o n th e I m p r o v e m e n t o f g e n e r a l b u s in e s s c o n d itio n s a n d th e fu r t h e r
e x t e n s i o n o f c o a l - m i n i n g o p e r a t i o n s In t h i s t e r r i t o r y t h e r e w i l l b e a l a r g e
i n c r e a s e In t h o p o p u l a t i o n , w h i c h w i l l p r o d u c e a c o r r e s p o n d i n g l y s a t i s f a c
t o r y in c r e a s e In t h e e a r n i n g s o f t h e c o m p a n y w i t h o u t f u r t h e r m a t e r i a l e x
te n s io n to Its p r o p e r t y .— V . 8 2 , p . 1 4 3 7 .
Evansville & Indianapolis RR.— L i s t e d .— The New York
Stock Exchange has listed $262,000 additional first con
solidated 6% bonds, making the total amount listed $1,
853,000.
P u r p o s e s f o r w h ic h $ 2 6 2 , 0 0 0 B o n d s w e r e I s s u e d .
T o r e f u n d $ 1 1 , 0 0 0 E . & I . f i r s t m o r t g a g e 6 % b o n d s ________________ $ 1 1 , 0 0 0
A g a in s t d e p o s it o f $ 2 5 9 ,7 8 5 c a s h to b e u s e d to r e t ir e $ 2 5 1 ,0 0 0
T e r r e H a u te & S o u th e a s te r n fir s t m o r tg a g e 7 % b o n d s m a tu r in g
S e p t . 1 1 9 0 9 , w i t h a c c r u e d I n t e r e s t _________ _______ ____________________ 2 5 1 , 0 0 0
E a r n i n g s o f E v a n s v i l l e & T e r r e H a u t e S y s t e m (i n c l u d i n g E v . & I n d .)
fo r T e n M o n th s E n d in g A p r il 3 0 19 0 9 .
T en
O p e r’g.
N et
T axes
O th e r
In te re st
B a la n c e ,
& R e n t a ls . S u r p lu s .
M o n th s— R even u e.
R evenu e. P a id .
in c o m e .
19 0 8 - 0 9 . . $ t , 7 8 0 ,4 2 4
19 0 7 -0 8 . . 1,8 8 7 ,9 4 2
— V . 7 5 , p . 980.
$ 6 5 6 ,5 6 3
6 5 9 ,2 0 3
$ 9 1,9 10
8 6 ,5 6 0
$ 9 3 ,8 9 5
-------
$ 5 0 1,9 2 8
$ 15 6 ,6 14
Fairmount & Clarksburg Traction Co.- - L i s t e d i n P h i l a Philadelphia Stock Exchange on June 25
listed $2,350,000 of the company’s first mortgage 5% 35year gold bonds dated 1903. Compare V. 87, p. 480, 544.
Gainesville (Ga.) Railway & Power Co.— N e w C o m p a n y .—
This company has applied for a charter preparatory to tak
ing over the property of the Gainesville Electric R y., which
recently changed hands.
d e l p h i a .— The
T h e n e w c o m p a n y w i l l a u t h o r i z e $ 1 5 0 , 0 0 0 c a p i t a l s t o c k In $ 1 0 0 s h a r e s
a n d $ 1 5 0 , 0 0 0 o f 6 % b o n d s o f $ 5 0 0 e a c h , s u b j e c t t o c a ll a f t e r 5 y e a r s a t 1 0 5 ,
s e c u r e d b y m o r t g a g e to th e G u a r a n t e e T r u s t & H a n k in g C o r p o r a tio n o f
A t la n t a , G a ., a s t r u s t e e ; in t e r e s t J . & J T h e I m m e d i a t e Is s u e w i l l b e
$ 12 5 ,0 0 0 e ach o f sto c k a n d b o n d s.
W . H . S la c k o f A t la n t a is In te re s te d .
Abstract o f Letter from President T . P. Shonts, New Y ork. July 6 1909.
O r g a n iz a t io n . — T h e c o m p a n y w a s In c o r p o r a t e d , u n d e r t n e l a w s o f N e w
Y o r k In 1 9 0 2 a n d o p e r a t e s , u n d e r l e a s e , t h e s u b w a y a n d M a n h a t t a n E l e
v a t e d r a p i d t r a n s i t s y s t e m s In N e w Y o r k C i t y .
P u r p o s e o f I s s u e .— T h e p ro c e e d s o f th e $ 10 ,0 0 0 ,0 0 0 b o n d s n o w s o ld to
y o u w ill b e p la c e d In t r u s t t o p r e p a y a n d r e t i r e o n S e p t . 1 1 9 0 9 t h e e n t i r e
Is s u e ( $ 1 0 , 0 0 0 , 0 0 0 ) o f 3 - y e a r 5 % g o ld n o t e s w h i c h m a t u r e M a r c h 1 1 9 1 0 .
T h e n o t e s w i l l b e c a ll e d f o r p a y m e n t o n S e p t . 1 1 9 0 9 a t 1 0 1 % .
S e c u r it y .— T h e se b o n d s, u p o n su c h p a y m e n t o f th e 5 % n o te s o n S e p t. 1
19 0 9 , w ill b e th e o n ly m o r tg a g e d e b t u p o n th e p ro p e r tie s , fr a n c h is e s a n d
le a s e s n o w o w n e d b y th e c o m p a n v , o r h e r e a ft e r a c q u ir e d w ith th e p ro c e e d s
o f t h e s e b o n d s , e x c e p t t h a t t l i e C i t y o f N e w Y o r k h o ld s a H e n u p o n e q u i p
m e n t u s e d In o p e r a t i n g t h e s u b w a y t o I n s u r e t h e f a i t h f u l p e r f o r m a n c e o f
t h e le a s e s t h e r e o f .
T h e se b o n d s a re secu red b y :
1 . A l ie n o n a l l r e a l e s t a t e , p o w e r h o u s e s , e l e c t r i c a l e q u i p m e n t a n d r o lli n g s t o c k o w n e d b y t h e c o m p a n y a n d u s e d in t h e o p e r a t i o n o f t h e r a p i d t r a n s i t
su b w ays.
T h e s e a r e s u b j e c t t o a p r i o r lie n in f a v o r o f t h e C i t y o f N e w Y o r k
m e r e ly to In s u re fa it h fu l p e r fo r m a n c e o f th e t e r m s o f th e s u b w a y le a s e s .
2 . A f i r s t H en o n t h e t w o le a s e s o f t h e r a p i d t r a n s i t s u b w a y f r o m t h e
C i t y o f N e w Y o r k , t h e p r i n c i p a l le a s e f o r 5 0 y e a r s f r o m O c t . 1 1 9 0 4 , w i t h
p r iv ile g e o f r e n e w a l fo r 2 5 y e a r s a d d it io n a l.
T h e le a s e o f t h e e x t e n s i o n
u n d e r th e E a s t R i v e r t o B r o o k ly n fo r 3 5 y e a r s , w it h t h e p r iv ile g e o f r e n e w a l
fo r 2 5 y e a r s a d d it io n a l.
T h e s e le a s e s e x t e n d w e ll b e y o n d t h e d u e d a t e o f
th e 4 5 - y e a r b o n d s , a n d a u t h o r iz e a 5 - c e n t f a r e d u r in g th e fu ll t e r m .
3 . A f i r s t lie n o n t h e le a s e o f t h e M a n h a t t a n R y . f o r 9 9 9 y e a r s f r o m 1 8 7 5 .
T h e fr a n c h is e s o f th is c o m p a n y a r e p e r p e tu a l.
T h e n e t In c o m e fr o m o p e r a
t io n o f t h e M a n h a t t a n R y . e x c e e d s t h e r e n t a l s t h e r e o f , s o t h a t t h i s l e a s e h a s
a ffo r d e d a c o n s id e r a b le p r o fit t o th e In t e r b o r o u g h R a p id T r a n s it C o .
4 . T h e p le d g e u n d e r t h e m o r t g a g e o f 1 8 , 1 4 0 s h a r e s o u t o f a t o t a l o f 2 0 , 0 0 0
s h a r e s o f th e c a p it a l s to c k a n d $ 9 4 2 ,0 2 2 7 2 n o t e s o f th e S u b w a y R e a lt y ’ C o .
(th e o w n e r o f t h e H o t e l B e lm o n t ) , 3 2 ,0 4 8 s h a r e s o u t o f a t o t a l o f 3 2 ,3 5 0
s h a r e s o f th e N e w Y o r k & Q u e en s C o u n t y R y . C o . a n d o n e -h a lf o f th e t o t a l
o u ts ta n d in g s to c k a n d b o n d s o f th e N e w Y o r k & L o n g Is la n d T r a c t io n C o .
a n d L o n g Is la n d E le c t r ic C o .
T h e m o r t g a g e a l s o p r o v i d e s t h a t . I f a n d w h e n t h e c o m p a n y ’ s I n t e r e s t In
th e N e w Y o t k & L o n g I s la n d R R . o r “ S t e in w a y T u n n e l” s h a ll b e s o ld ,
th e p ro c e e d s s h a ll b e a p p lie d to th e r e d e m p tio n o f th e o u t s t a n d in g 6 %
g o ld n o t e s , o r I f n o s u c h n o t e s a r e t h e n o u t s t a n d i n g , t o t h e r e d e m p t i o n o f
th ese 4 5 -y e a r b o n d s.
S i n k i n g F u n d . — A s in k in g fu n d o f $ 3 0 0 ,0 0 0 p e r a n n u m , c u m u la t iv e , b e
g in n in g N o v . 1 1 9 1 0 , d r a w s b o n d s a t 1 0 5 a n d In te r e s t if n o t p u r c h a s a b le
a t a lo w e r p r ic e .
I f c o m p o u n d e d a t 5 % p e r a n n u m , th is w ill b e s u ffic ie n t
to a c q u ir e a t 1 0 5 , a n d t o r e t ir e a t m a t u r it y , a b o u t $ 3 9 ,0 0 0 ,0 0 0 b o n d s .
T h is
s in k in g fu n d m a y b e In c re a se d a t th e o p tio n o f th e c o m p a n y to a n a m o u n t
n o t e x c e e d in g 1 % o f th e t o t a l a m o u n t o f b o n d s o u t s t a n d in g .
T a x - E x e m p t .— T h e c o m p a n y h a s p a id th e s p e c ia l t a x u n d e r A r t ic le X I V .
o f t h e t a x la w s o f t h is S t a t e , t h u s m a k in g th e s e b o n d s t a x - e x e m p t In N . Y .
C a p it a l iz a t io n S e p t . 1 1 9 0 9 u p o n R e t ir e m e n t o f th e 3 - Y e a r 5 % N o t e s .
C a p i t a l s t o c k ______________________________________________________________$ 3 5 , 0 0 0 , 0 0 0
5 % g o ld m o r t g a g e b o n d s , d u e N o v . 1 1 9 5 2 ( I n c lu d in g p r e s e n t
i s s u e o f $ 1 0 , 0 0 0 , 0 0 0 ) _________ ______________________________________ 1 1 , 5 9 0 , 0 0 0
6 % c o n v e r t i b l e n o t e s , d u e M a y 1 1 9 1 1 _______________________________ 2 3 . 4 2 4 , 0 0 0
I n c o m e f o r T w e lv e M o n t h s l e n d i n g M a y 3 1 1 9 0 9 .
G r o s s e a r n i n g s ___________ $ 2 5 , 5 9 4 , 4 3 9
D e d u c t io n s —
O p e r a t i n g e x p e n s e s -------- 1 0 , 7 9 9 , 6 5 0 R e n t a l s o f s u b w a y s a n d
M a n h a t t a n R y _________ $ 8 , 0 2 1 , 2 8 1
N e t e a r n i n g s ..............................$ 1 4 , 7 9 4 , 7 8 9 T a x e s ______________________
1,7 8 6 ,5 2 0
O t h e r I n c o m e _____________
1,4 0 4 ,7 6 9 In t e r e s t c h a rg e s , I n t e r
b o ro u g h R a p id T r . C o .
1,9 9 6 ,3 7 0
N e t i n c o m e . ..................... $ 1 6 , 1 9 0 , 5 5 8 D i s c o u n t , & c _____________
19 ,18 6
T o t a l d e d u c t i o n s ______ $ 1 1 , 8 2 3 , 3 5 7
S u r p l u s a p p l i c a b l e t o d i v i d e n d s -------------------------------------------------------- $ 4 , 3 7 6 , 2 0 1
T h e a n n u a l i n t e r e s t c h a r g e o n t h e c o m p a n y 's f u n d e d d e b t ( s h o w n a b o v e )
a s o f S e p t . 1 19 0 9 w ill b e $ 1 ,9 8 4 ,9 4 0 .
In th e 1 2 m o n th s e n d in g M a y 3 1
19 0 9 th e c o m p a n y e a r n e d , o v e r a n d a b o v e o p e r a tin g e x p e n s e s , t a x e s a n d
r e n t a l s , $ 6 , 3 9 1 , 7 5 7 , o r m o r e t h a n t h r e e t im e s t h e a n n u a l I n t e r e s t u p o n I t s
t o t a l o u t s t a n d in g fu n d e d d e b t .
T h e c o m p a n y h a s n o U o a t ln g d e b t .
G r o s s E a r n i n g s f r o m O p e r a t io n f o r E a s t F i v e Y e a r s .
------------------------ Y e a r s E n d i n g J u n e 3 0 ----------------------------------------- Y r . c n d . M a y Z
19 0 5 .
19 0 6 .
19 0 7 .
19 0 8 .
19 0 9 .
$ 16 ,8 3 7 ,3 7 1*
$ 19 ,6 9 5 ,5 9 4
$ 2 2 ,3 6 3 ,8 0 2
$ 2 4 ,0 5 9 ,2 9 9
$ 2 5 ,5 9 4 ,4 3 9
l
Illinois Central RR.— D e c i s i o n . — In order to expedite a t h e* yTehaer seunbdwi nagy Jwu anse o3p0e n1e9d0 5f o Irn oc pl uedr ea t oi onnl yi n8 Omcot .n t1 9h s0'4 o, ps eo r at ht iao tn e oa rf ntihneg ss uf ob r
final decision on the claim of the State of Illinois for back w a y d i v i s i o n .
T h e P u b lic S e r v ic e C o m m ls s o n o f N e w Y o r k fo r t h e F ir s t D iv is io n h a s
taxes, extending over a number of years, reported to amount
to about $15,000,000, Judge Stougli, in the State Circuit uc onma npi amnoyu'ss lyo paepr pa trioovne da ntdh i sa fIfsasiur se . —a fVt e. r 8a9n, pe x. h4a1u. s t i v e I n v e s t i g a t i o n o f t h e
Court at Ottawa, 111., without discussing the merits of the
Kansas City Southern Railway.— B o n d s O ffe r e d .— Sutro
case, sustained the demurrer of the company to the bill filed Bros. & Co. and Procter & Borden, both of New York, are
by Attorney-General Stead on behalf of the State. Judge offering by advertisement on another page, at a price to
Stough says in part:
yield 4.90%, the unsold portion, $1,500,000, of tho present
1 t h in k s o m e o f th e c la im s o f th e S t a t e a r c g o o d , s o m e a r e d o u b tfu l a n d
issue of 810,000,000 “ refunding and improvement mortgage”
o m o b a d , b u t a n e r r o r o n m y p a r t c o n c e r n i n g a n y o n e o f t h e m w o u ld o c
5% gold bonds, dated July 1 1909 and payable April I 1950,
c a s i o n a reversal o f all the Master i n C h a n c e r y a n d I m i g h t d o f o r t h e n e x t
104:
THE CHRONICLE
but subject to call at 105 on any interest date on 60 days’
notice. Interest J. & J. Total authorized issue $21,000,000.
Trustee, New York Trust Co. The firm says in substance:
T h e K a n s a s C it y S o u th e r n R a ilw a y e x te n d s fro m K a n s a s C it y to P o r t
A r t h u r , T e x a s , 7 7 7 m i l e s , b e in g t h e s h o r t e s t lin e f r o m K a n s a s C i t y t o t t ie
G u l f o f M e x ic o , a n d f o r m i n g a d i r e c t c o n n e c t io n b e t w e e n t h e U n io n P a d lie
a n d S o u t h e r n P a c illc S y s t e m s .
A t r a ffic a g re e m e n t b e tw e e n th o se r a il
r o a d s a n d th e ir s u b s id ia r y c o m p a n ie s a n d th e K a n s a s C it y S o u t h e r n K y .
w a s m a d e in F e b r u a r y 1 9 0 9 .
I t w a s o f f ic i a lly e s t im a t e d a t t h a t t im e t h a t
t h e s e t r a f f i c c o n t r a c t s w o u ld r e s u l t in in c r e a s i n g t h e g r o s s e a r n i n g s o f t h e
K a n s a s C i t y S o u t h e r n a b o u t 5 1 , 0 0 0 , 0 0 0 in t h e f i r s t y e a r o f t h e i r o p e r a t i o n ,
w h ile b y th is a g r e e m e n t th e K a n s a s C it y S o u t h e r n h a s b e c o m e a c o n n e c tin g
lin k in a g r e a t t r a n s c o n tin e n t a l s y s t e m .
T h e s e b o n d s a r e s e c u re d b y a m o r tg a g e o n th e e n tir e p r o p e r t y , s u b je c t
o n ly to th e fir s t m o rtg a g e 3 % b o n d s .
T l i e g r o s s e a r n i n g s f o r t h e il s c a l y e a r e n d e d .J u n e 3 0 1 9 0 0 , o n e m o n t h
e s t im a t e d , w e re a p p r o x im a t e ly 5 8 ,7 7 2 ,0 0 0 , a b o u t 3 1 0 ,( 10 0 a m ile , a n d
n e t e a r n in g s $ 3 ,5 5 0 ,0 0 0 .
T h e t o t a l f i x e d c h a r g e s o f e v e r y n a t u r e . I n c lu d in g
t a x e s , a m o u n te d to $ 1 ,3 7 5 ,0 0 0 , le a v in g $ 2 ,1 7 5 ,0 0 0 a p p lic a b le to In te re s t
o n th e s e “ r e fu n d in g a n d im p r o v e m e n t m o r t g a g e " 5 % b o n d s , o r f o u r tim e s
th e In te re st c h a rg e .
S ta te m e n t o f O p e r a t io n f o r th e la s t T h r e e F i s c a l Y e a r s ( J a n e 1 9 0 9 e s t im a t e d .)
19 0 9 .
( V a r t lu E s t im a t e d .)
19 0 8 .
19 0 7 .
G r o s s e a r n i n g s _ __________
_________$ 8 , 7 7 2 , 0 0 0
$ 8 ,7 5 8 ,9 2 8
$ 9 ,0 3 7 ,5 16
-V e t e a r n i n g s . ____ _____ _ _ _ _ ..............
3 ,5 5 0 ,0 0 0
3 ,1 3 8 ,2 0 0
3 ,8 5 3 ,5 5 9
F i x e d c h a r g e s a n d t a x o s ( in t e r e s t o n
5 % g o ld n o t e s c a lle d f o r p a y m o n t
J u l y 1 19 0 9 n o t i n c l u d e d ) . ______
1,3 7 5 ,0 0 0
1,2 7 5 ,6 6 2
1,19 8 ,5 13
B a la n c e a p p lic a b le to in te r e s t o n
■
“ r e f u n d in g a n d im p . m tg o . " 5 % b d s . $ 2 , 17 5 ,0 0 0
$ 1,8 6 2 ,5 14
$ 2 ,6 5 5 ,0 16
T h e s t a t e m e n t a b o v e s h o w s t h a t in 1 9 0 7 t h e r o a d e a r n e d o v e r 5 t im e s
th e In te r e s t o n th e $ 1 0 ,0 0 0 ,0 0 0 “ r e fu n d in g a n d im p r o v e m e n t ” 5 % b o n d s
n o w o u t s t a n d i n g ; o v e r 3 'A t lt n o s t h e i n t e r e s t In 1 9 0 8 , a y e a r oC s e v e r e
d e p r e s s i o n , a n d m o r e t i t a n 4 t im e s t h e c h a r g e in t h e y e a r e n d e d J u n e 3 0 1 9 0 9 .
A p p r o x im a t e P u r p o s e s to w h ic h th e P r o c e e d s o f t h is $ 1 0 , 0 0 0 , 0 0 0 B o n d s
w ill he A p p lie d .
T o p a y o ff th e c o lla t e r a l g o ld n o te s J u l y 1
------------------------$ 5 ,10 0 ,0 0 0
T o re d u c e g ra d e s to A o f 1 % o n 3 o p e r a tin g d iv is io n s , a g g r e
1,2 5 0 ,0 0 0
g a t i n g 4 1 % o f t o t a l l e n g t h o f l i n e ---------------- ----------------------- T o r e - a r r a n g e fo u r d iv is io n t e r m in a ls t o p e r m it o f m o re e c o n o m ic a l
a n d b e t t e r o p e r a tio n , a n d t o p r o v id e a d d it io n a l fa c ilit ie s
fo r t a k in g c a r e o f p o w e r a n d t r a f f ic
------------------------------1 ,0 0 0 ,0 0 0
T o d itc h in g , b a lla s t in g , n e w r a il, t r a c k a n d b rid g e I m p r o v e m e n ts
1 ,0 0 0 ,0 0 0
F o r im p ro v e m e n t o f te r m in a l fa c ilit ie s a t K a n s a s C it y a n d
P o r t A r t h u r , a n d f o r o t h e r c o r p o r a t e p u r p o s e s ----------------------1,2 7 5 ,0 0 0
T o t a l ------------------------------------------------ ---------------------------------------------- $ 9 , 6 2 5 , 0 0 0
T h e s e b o n d s a r e a le g a l i n v e s t m e n t f o r l i f e i n s u r a n c e c o m p a n i e s in N e w
Y o r k .— V . 8 9. p . 4 2 .
Los Angeles & San Diego Beach By.— S t o c k D e c r e a s e . —•
This company, it. is announced, has filed a certificate de
creasing its authorized oapital stock from $6,000,000 to
$2,000,000. Sec V. 83, p. 562.
Mexican Northern Railway.— M a j o r i t y A s s e n t . — The hold
ers of more than a majority of the $708,000 outstanding
bonds have agreed to tho extension plan, and the time for
further acceptances has been extended to Sept. 1. Compare
V. 88, p. 1500.
Missouri Pacific Ry.—•F i n a n c i a l P l a n . — The plan which
has been under consideration for several months for the
making of a new bond issue for an amount sufficiently large
to provide for present needs and future requirements
during a long term of years, has, it is understood, been prac
tically completed, aside from some formalities, and awaits the
approval of the board of directors at a meeting which will be
held probably early in August. Kuhn, Locb & Co., it is
stated, have agreed to handle the bonds. The plan will
serve to unify the system and its indebtedness, as well as sup
ply new capital.
B o n d s L i s t e d . — The New York Stock Exchange has listed
$4,255,000 additional collateral 40-year 4% bonds due 1945,
secured by an equal amount of Iron Mountain stock, making
the total amount listed to date $37,255,000.
E a r n i n g s f o r B i g h t M o n t h s e n d in g F e b . 2 8 1 9 0 9 .
G r o s s r e v e n u e s ....................... $ 1 4 , 4 8 3 , 6 7 6 1 T o t a l n e t i n c o m e ---------------- $ 3 , 9 0 5 , 9 3 3
3 , 4 2 1 , 0 9 0 C h a r g e s ............................................. 4 , 4 0 7 , 8 1 0
N e t r e v e n u e s ______ _______
O t h e r i n c o m e _____________
4 8 4 , 8 4 3 1 B a l a n c e , d e l l c i t .........................
5 0 1,8 7 7
O t h e r in c o m e ( $ 4 8 4 ,8 4 3 ) i n c l u d e s :
D iv id e n d s r e c e iv e d , $ 3 1 5 , 1 4 7 , a n d
s u n d r y a m o u n ts , $ 16 9 ,6 9 6 .
C h a rg e s ( $ 4 ,4 0 7 ,8 1 0 ) e m b ra c e ;
In te re st on
b o n d s , $ 2 ,9 8 4 ,5 4 9 ; r e n t a ls a n d t a x e s p a id . $ 6 7 7 ,7 0 7 ; s u n d r y a m o u n t s , $ 7 4 5 ,
554.
I r o n M o u n t a i n B o n d s a n d E a r n i n g s . — See St. Louis Iron
Mountain & Southern Ry. below.— V. 88, p. 1438.
New York Central & Hudson River RR.— N e w M o r t g a g e . —
See Spuyten Duyvil & Port Morris R R. below.
F i n a n c i n g G e n e v a C o r n i n g & S o u t h e r n R R .— See that com
pany below.
I m p r o v e m e n t s . — The company on July 1 informed the Pub
lic Service Commission, Second District, in connection with
a hearing regarding the financing of leased lines, that it ex
pects to expend $21,488,755 during the current year for vari
ous improvements, including $8,477,682 in connection with
electrification of lines and station improvements in New York
City and vicinity. The “ Albany Argus” says:
A m o n g t h e o t h e r c h a n g e s c o n t e m p la t e d a r e ; G r a d e c r o s s i n g e l i m i n a t i o n
a t B u t la lo . $ 1 , 4 1 2 , 0 0 0 ; e le c t r ific a t io n W e s t S h o r e , b e tw e e n S y r a c u s e a n d
U t ic a . $ 1 3 0 ,0 0 0 ; d o u b le -tr a c k in g a n d g r a d e r e v is io n . W e s t S h o re b e tw e e n
S y r a c u s e a n d B u f f a lo , $ 7 5 0 ,0 0 0 ; n e w p a s s e n g e r s t a t io n , W a t e r t o w n , $ 2 6 0 ,
0 0 0 ; d o u b le - t r a c k in g , R o m e W a te r to w n & O g d e n s b u rg d iv is io n , b e tw e e n
W a t e r to w n J u n c t io n a n d A d a m s . $ 3 3 9 ,0 0 0 ; a u t o m a t ic s ig n a ls b e tw e e n
C r o to n a n d B u t la lo , $ 2 8 9 ,0 0 0 ; e q u ip m e n t , $ 3 , 7 7 5 , 5 5 2 .
T h e s c h e d u l e o f e x p e n d i t u r e s w h ic h t h o c o m p a n y l i a s u n d e r w a y a n d
e x p e c t s t o m a k e a l s o c a ll s f o r m a c h in e s h o p , W e s t A l b a n y , $ 2 o 0 , 0 0 0 ; e r e c t
i n g s h o p , 'W e s t A l b a n y , $ 2 7 5 , 0 0 0 ; g e n e r a l i m p r o v e m e n t s a t P o u g h k e e p s i e ,
$ 3 19 ,0 0 0 ; re c o n s tr u c tin g b rid g e s o v e r E r ic C a n a l a t lo n a w a n d a a n d L o c k n o r t , $ 2 0 0 , 0 0 0 ; y a r d a n d e n g in o h o u s e a t B r e w s t e r , $ 3 3 0 , 0 0 0 ; t u n n e l t o
e lim in a t e b r id g e s a t H ig h la n d F a lls , o n th e W e s t S h o r e , $ 2 4 0 ,0 0 0 : I n t e r
c h a n g e y a r d a t M a p le w o o d , $ 1 5 0 ,0 0 0 ; e n g in e h o u se , N o r w o o d , $ 1 2 5 , 0 0 0 ;
e n g in e h o u s e , C a r t h a g e , $ 1 3 0 ,0 0 0 ; U t ic a b r id g e , S t l t t v ll l e , R . W . & O .,
$ 3 2 0 ,0 0 0 ; d o u b le - t r a c k in g F a lls R o a d , $ 1 3 6 ,0 0 0 ; t ic - p r e s e r v in g p la n t ,
$ 1 5 0 ,0 0 0 ; m is c e lla n e o u s o th e r Im p ro T e m e n ts , $ 3 ,3 0 4 ,7 3 9 .
[VOL. L X X X I X .
part of one of the new buildings will be occupied by the
New York Furniture Exchange.—-V. 88, p. 1254, 1128.
New York New Haven & Hartford RR.— A c q u i s i t i o n . — See
United Traction & Electric Co. of Providence below.
I n c o m e B o n d h o l d e r s O b ject to R e f u n d i n g . — See Central New
England R y. above.— V. 88, p. 1621, 1561.
Oahu Railway & Land Co., Honolulu.— B o n d s C a l l e d .—
Treasurer Walter F. Dillingham, under date of Honolulu,
June 26, announced that the entire issue of $2,000,000 6%
bonds issued in 1897 had been called for redemption on
July 1 at the company’s office. An advertisement says,
S a n F r a n c is c o h o ld e r s o f a b o v e b o n d s m a y e x c h a n g e s a m e th ro u g h
M e r c a n tile T r u s t
C om pan y of San
F r a n c is c o
fo r
new
is s u e d a t e d
J u l y t 19 0 9 o f $ 2 , 0 0 0 ,0 0 0 5 % 1 0 - 1 7 H - y c a r f i r s t m o r t g a g e b o n d s u n d e r
s a m e t r u s t d e e d a t 1 0 1 o r m a y re c e iv e p a y m e n t o f 0 % b o n d s a n d c o u p o n s
to J u l y 1 1 9 0 9 u p o n p r e s e n t a t i o n t o M e r c a n t i l e T r u s t C o . o f S a n F r a n c i s c o .
B o n d s c a s h e d b e f o r e S e p t . I 19 0 9 a l l o w e d 5 % i n t e r e s t f r o m J u l y 1 t o
d a te o f p a y m e n t.
[A t la s t a c c o u n ts th e m o rtg a g e tru ste e s w e re H o n . W . F .
F r e a r a n d T . W . H o b r o n , b o th o f H o n o lu lu .
O n J a n . 1 19 0 4 t h e c o m p a n y
h a d o u t s t a n d in g $ 2 ,0 0 0 ,0 0 0 c a p it a l s t o c k a n d a m o n g it s $ 7 , 1 7 7 , 3 5 5 o f
a s s e t s w e r e : r o a d b e d a n d t r a c k , $ 2 , 0 0 0 , 0 0 0 ; r o l li n g s t o c k , $ 4 1 2 , 3 5 4 ;
s t a t io n g r o u n d a n d b u ild in g s , $ 6 6 6 ,7 6 8 : la n d s , $ 1 ,3 8 7 , 8 5 9 ; r a n c h e s , $ 4 0 5 ,
7 4 5 : fr a n c h is e s a n d c o n t r a c t s , $ 4 5 0 ,0 0 0 , w h a r v e s , $ 6 6 2 ,3 2 5 , & c .— E d .]
Pacific Gas & Electric Co., San Francisco.— $5,000,000 o f
C o m m o n S t o c k to b e I s s u e d i n S e ttle m e n t o f 20% o f A c c u m u
la ted D i v i d e n d s o n P r e fe r r e d S t o c k to A u g . I 1909.—The direc
tors on June 29 approved the plan to issue $5,000,000 com
mon stock in settlement of the cumulative 6% dividends
on the $10,000,000 preferred stock, which have not been
paid since the earthquake, April l 1906, and which on Aug. I
will amount to 20% , making the total due $2,000,000.
Preferred stockholders will be offered in lieu of the accumu
lated dividends on each two shares one share of common
stock (market value about $45 y j ) , increasing the amount
of the common stock in the hands of the public from $12,
803,000 to about $17,803,000. To July 9 this offer had
been accepted by the holders of more than 75% of its pre
ferred stock.
. .
The offer will remain open until July 15 and the distribu
tion will be made Aug. 2 to assenting shareholders of record
on that day.
B o n d s — E a r n i n g s . — N. W . Halsey & Co., New York,
San Francisco, &c., recently offered for sale a block of
debenture mortgage 6% sinking fund 30-year gold bonds
dated Dec. 15 1907. Authorized issue $4,000,000, out
standing $3,651,000 (compare V. 88, p. 1621). A letter
addressed to the firm by Vice-President and General Manager
John A. Britton on May 28 says:
T h e c o m p a n y p r a c t ic a lly c o n tr o ls th o lig h tin g a n d p o w e r b u s in e s s o t
C e n t r a l C a l i f o r n i a , s e r v i n g m o r e t h a n 1 0 0 c o m m u n i t i e s . I n c lu d in g 8 o f t h e 1 0
la r g e s t c itie s o t th o S t a t e , c o n t a in in g m o re th a n 6 0 % o f th o p o p u la tio n o f
th e e n t ir e S t a t e o f C a lifo r n ia .
B o n d e d D e b t in H a n d s o f P u b l i c M a r c h 3 1 1 9 0 9 .
D i v i s i o n a l a n d u n d e r l y n g b o n d s ________________________________
$ 4 3 ,3 7 8 ,0 0 0
P a c ific G a s & E le c t r ic C o . g e n e r a l a n d c o lla t e r a l t r u s t 5 % b o n d s
9 ,15 3 ,0 0 0
P a c ific G a s & E le c t r ic C o . d e b e n tu r e m o r t g a g e 6 % s in k in g
f u n d 3 0 - y e a r g o l d b o n d s ( t h is I s s u e ) _______________________________
3 , 6 5 1 ,0 0 0
T o t a l o u t s t a n d i n g b o n d e d d e b t in h a n d s o f p u b l i c a s o f
M a r c h 3 1 1 0 0 9 ---------------------------------------------------------------------------- $ 5 6 , 1 8 2 , 0 0 0
T h e s e ( d e b e n t u r e m o r t g a g e ) b o n d s a r e s e c u r e d b y a d i r e c t lie n u p o n a l l
th e p r o p e r ty o f th o P a c ific G a s & E le c t r ic C o . n o w o w n e d o r h e r e a ft e r a c
q u i r e d — a n d u p o n a l l ttie s t o c k o f tin ; S a n F r a n c i s c o G a s & E l e c t r i c C o .
n o w o w n e d ( 9 7 .7 2 % ) o r h e r e a fte r a c q u ir e d b y th e P a c ific G a s & E le c t r ic C o .
T h e v a l u e o f t h e p h y s i c a l p r o p e r t y o f t h e c o m p a n y , w i t h o u t In c lu d in g
f r a n c h i s e s a n d g o o d - w i l l , Is e s t i m a t e d a t $ 9 0 ,0 0 0 ,0 0 0 ( e q u a l t o m o r e t h a n
1 a t i m e s , o r $ 3 3 , 8 1 8 , 0 0 0 In e x c e s s o t t h e e n t i r e o u t s t a n d i n g b o n d e d d e b t
In h a n d s o f p u b l i c ) , v i z . ;
C a lifo r n ia G a s * E le c t r ic C o r p o r a tio n , $ 6 5 ,0 0 0 ,
0 0 0 ; S a n F r a n c is c o G a s & E lc c t r o C o ., $ 2 5 ,0 0 0 ,0 0 0 .
E a r n i n g s o f P a c i f i c G a s & E l e c t r i c C o . f o r Y e a r s e n d in g D e c . 3 1 .
19 0 8 .
19 0 7 .
In c r e a s e .
G r o s s r e v e n u e - __- -------------------------------- $ 1 2 , 8 5 3 , 8 1 7 $ 1 1 , 4 2 6 , 9 9 2
$ 1 ,4 2 6 ,8 2 5
N e t In c o m e a v a i l a b l e fo r I n t e r e s t o n
d e b e n t u r e m o r t g a g e b o n d s _________
2 ,0 5 2 ,3 3 0
1,6 5 3 ,7 8 1
3 9 8 ,5 4 9
A n n u a l I n t e r e s t o n e n t i r e Is s u e d c „ , ftn n n
, in n n n
b e n t u r c m o r t g a g e b o n d s ----------------2 4 0 ,0 0 0
2 4 0 ,0 0 0
--------------B a la n c e
................- ....................$ 1 , 8 1 2 , 3 2 9
$ 1 ,4 1 3 ,7 8 1
$ 3 9 8 ,5 4 8
n 'h J o-rn-ss r e v e n u e t o r 19 0 6 w a s $ 9 , 1 2 7 , 0 8 3 .
C o m p a re m a p a n d d e s c r ip
t io n o n ^ p a g e s 1 0 4 a n d 1 0 5 o t “ E l e c t r i c R a i l w a y S e c t i o n . ” — V . 8 9 . p . 4 2 .
Peninsular R R.— See Peninsular Railway below.
Peninsular Railway, California.— C o n s o li d a t i o n o f E le c tr ic
L i n e s o f S o u t h e r n P a c i f i c S y s t e m . — This company filed articles
of incorporation in California on June 30, its capital being
$12 000,000, in $100 shares, as a consolidation of the follow
ing electric railways of the Southern Pacific system, which
subscribed for the new stock to the amounts named: Penin
sular R R . subscribed for 50,000 shares, the San Jose &
Los Gatos Interurban Ry. (V. 76, p. 1409) for 20,000 shares
and the Santa Clara Interurban Ry. (V. 83, p. 380; V. 87,
p. 545) for 50,000 shares. A press despatch to the “ San
Francisco Chronicle” says:
T h e c o n s o l i d a t e d c o m p a n y w i l l c o m p r is e a l l t h e p r e s e n t a n d c o n t e m D la t e d r a i l w a y s y s t e m s o n t h e B a n I u a n c l s c o p e n i n s u la f r o m t h a t c i t y to
B a n J o s e a n d v i c i n i t y , I n c lu d in g t h o s e In I n t e r m e d i a t e t o w n s .
It co m p re
h e n d s lin e s m a k i n g c o m p l e t e c l o c t i l c c o n n e c t io n i r o m t h i s c i t y t o t h e
m e t r o n o lls
t h r o u g h t h e g r o u n d s o f S t a n f o r d U n i v e r s i t y ; ( h e .\ t a y fic ld L o s G a t o s ’ s h o r t c u t s t e a m r o a d , s o o n t o b e e l e c t r i f i e d ; a lin o f r o m S a n
M a te o to A lu m R o c k p a r k , a d is ta n c e o f 4 0 m ile s , ru n n in g v ia R e d w o o d .
M e n lo P a r k , P a l o A l t o , M a y f i e l d , M o u n t a in V i e w , S u n n y v a l e , S a n t a C l a r a
a n T h e at o t a ? p s t l m a t e d le n g t h o f t h e l i n e s u n d e r t h e c o n t r o l o f t h e P e n i n s u l a r
R a i l w a y C o is 2 2 2 . 2 0 m i l e s .
T h e d ire c to r s a r c n a m e d a s J . T . B u r k e .
P a u l S h o u p , C . B . S e g c r , P . F • D u n n e a n d I1 . E . C h a p i n .
Pittsburgh Ft. Wayno & Chicago R y.— L i s t e d . — The New
York Stock Exchange has listed $1,552,800 additional
guaranteed special stock, making the total amount listed
to date $43,040,500. The additional stock covers the
T o C o n s t r u c t O f f i c e B u i l d i n g s . — Negotiations, it is an
nounced, have been concluded for the construction by the following expenditures:
T h i r d a n d f o u r t h t r a c k s ___
$270
o t l v c s ------------------------Central for itself and the New Haven roads of two 12-story GI . oo nc od m
S i d e t r a c k s ______________
10 7 ,8 3 6
a n d l l a t c a r s --------- 7 1 1 , 0 6 ' !
3 7 7 ,8 9 8
buildings covering the entire blocks between 46th and 48th B o x c oa lar s ............
..................................
0 8 ,0 5 9 T r a c k e l e v a t i o n ...... ...............
streets, I/exington Avenue and Depew Place, this city, at a E n g i n o b o u s e s ----------------------- 6 0 'ZPic SRaelaalr i ees s t&a t ee x pa.n od f orni gghlnt c cor sf 8 ,4 3 9
6 ,7 7 0
cost of about $3,500,000. The buildings have been leased SB trai dt igoens haonuds ecs u________________
w a y ............ ..........
2 9 ,2 4 6
l v e r t s ----------9 ,5 9 8
to the MoFab'vnitt' At Jfemufaeturers’ Exchange. A large — V . 8 7 . p . 2 2 7 .
JTH.Y 10 1909. |
THE CHRONICLE
St. Louis Iron Mountain & Southern R y.— L i s t e d .— The
New York Stock Exchange has listed $485,000 additional
River & Gulf Division first mortgage 4% 30-year bonds,
due 1933, making the total amount listed to date $30,849,000.
P u r p o s e s f o r w h ic h th e $ 4 8 5 , 0 0 0 B o n d s h a v e b e e n I s s u e d .
T o a c q u i r e $ 2 8 1 , 0 0 0 f ir s t m t g e . b o n d s o f U n io n R y . ( o f M e m p h is ) . $ 2 8 1 , 0 0 0
T o a c q u ir e o r c o n s tr u c t t e r m in a l p r o p e r tie s a t o r n e a r E a s t S t .L o u is
1 9 ,0 9 9
T o d e v e lo p o r I m p r o v e t h e p r o p e r t i e s c p v e r e d b y t h e m o r t g a g e . . 1 8 1 , 9 3 1
Earnings f o r E ig h t M o n t h s e n d in g F e b . 2 8 1 9 0 9 .
G r o s s r e v e n u e -----------------$ 1 5 , 6 4 1 , 8 4 0 1 T o t a l n e t I n c o m e ________ $ 5 , 7 7 3 , 7 3 0
N e t t o v o n u e _______ _______
5 , 3 5 6 , 1 7 3 F i x e d c h a r g e s ____________
4 ,2 9 1,3 15
O t h e r in c o m e ..
4 1 7 , 5 5 7 1 B a l a n c e , s u r p l u s _________
1,4 8 2 ,4 15
O t h e r In c o m e I n c lu d e s : d i v i d e n d s , r e c e i v e d $ 2 2 5 , 6 5 6 a n d s u n d r y a m o u n t s ,
$ 19 1,0 0 1.
F i x e d c h a r g e s ( $ 4 , 2 9 1 , 3 1 5 ) c o n s ls 't o f I n t e r e s t o n b o n d s , $ 3 ,
0 7 2 ,5 4 5 ; r e n t a ls a n d t a x e s p a id , $ 5 3 8 ,7 3 9 ; s u n d r y a m o u n t s , $ 6 8 0 ,0 3 1 .
— V . 88, p . 749.
St. Louis & San Francisco R R . — S a l e o f B o n d s i n F r a n c e .—
Speyer & Co. announced on Tuesday that a group of French
banks headed by the Banque Privee of Paris had concluded
negotiations covering about 51,000,000 francs (about $10,
000,000) general lien 15-20-year 5% gold bonds due 1927.
These bonds will be issued in Paris some time this month.
They are a special French series, being in the denomination
of 516 francs ($100) per bond, and form part of a total author
ized issue of $109,000,000, whereof $35,000,000 are already
listed on the New York, London and Amsterdam stock ex
changes.
Since June 1 the general lien 5s have become a first mort
gage on 665 miles of the St. Louis Memphis & Southeastern
lilt., subject to only about $489,000 existing bonds, for
which general lien bonds are reserved. On or before Oct. 1
1913 they will, it is stated, become a first lien on a total of
1,526 miles. They are also a general lien on 2,004 miles
additional, and cover the leasehold interest of the company in
I , 199 miles. Compare V. 88, p. 1198, 54.— V. 88, p. 1254,
1198.
C a lle d f o r P a y m e n t . — The company has called for payment
at the Trust Co. of America, New York, on Aug. 6 1909,
at par and interest, its $6,125,000 extended 5-year 4 j^ %
gold notes maturing Dec. I 1909.
On the payment of said notes, the general lien 5% bonds
will also become a first mortgage on the line of the St. Louis
San Francisco & New Orleans R R . extending from Hope,
Ark., to Ardmore, Okla., and aggregating 232.74 miles. On
Aug. 6, therefore, the general lien 5s will be a first lien on
897 miles of road, subject to only about $489,000 existing
bonds, for the redemption of which general lien bonds are
reserved.— V. 88, p 1254, 1198.
San Jose & Los Gatos Interurban R y.— See Peninsular
Railway above.— V. 70, p. 1409.
Santa Clara Interurban R y.— See Peninsular Railway.
Seaboard Air Line R y.— T o V o te o n P l a n . — A meeting of
shareholders will be held in Richmond, Va., on Aug. 4 and
subsequently in other Southern cities, to enable the stock
holders to act on the reorganization pfan. See outline of
plan in V. 89, p. 43.
Southern Pacific Company.— S a l e o f B o n d s H e l d b y U n i o n
P a c i f i c l i l t . — See that company below.
N e w B o n d s R e a d y J u l y 23.— The 4% 20-year convertible
gold bonds due June 1 1929 will be ready for delivery at
the office of the company, 120 Broadway, New York, on
and after July 23 1909, upon the surrender of full-paid sub
scription receipts. London subscribers can have their bonds
delivered in London on the same date at the Bank of jVIontreal, 47 Threadncedle St.
C o n s o li d a t i o n
o f E le c tr ic L i n e s . — See
Peninsular Ry.
above.— V. 89, p. 44.
Southwestern Ohio Traction Co.— N e w P r o j e c t . — See
Cincinnati & Columbus Traction Co. above.
Spuyten Duyvil & Port Morris R R.— M o r t g a g e . — The
company, whose capital stock is now owned by the New York
Central & Hudson River, has applied to the Public Service
Commission for authority “ to execute a first mortgage upon
its property to secure bonds to an amount not exceeding
$20,000,000, and to assume bonds to be issued thereunder,
as in said mortgage provided, to the extent of $2,500,000.”
The application will be heard by the Commission on July 14
1909. The proposed immediate issue, $2,500,000 it is said,
will be 3 W % 50-year bonds, most of which will be used
for refunding indebtedness to the Central. See V. 88, p. 824.
Toledo Bowling Green & Southern Traction Co.— M e e t i n g
A d j o u r n e d T i l l A u g . 6.—The meeting which was called for
June 29 (V. 88, p. 1439) to authorize new stock and bonds
and the purchase of the Toledo Urban & Interurban Ry.
was adjourned without action until Aug. 6.
President
Kerper is quoted as saying:
T h e s t o c k h o ld e r s a r o in f a v o r o f t h e I n c r e a s e In c a p i t a l o f $ 7 5 0 , 0 0 0 p r e
fe rre d s to c k .
H o ..o v e r , w o c a n d o n o th in g u n til th e n e x t m e e tin g , w h e n
It w ill h o d e f i n i t e l y k n o w n j u s t w h a t a c t i o n Is t o h e t a k e n r e l a t i v e t o l i f t i n g
th e r e c e iv e r s h ip .
T h e l a t t e r m a t t e r , o f c o u r s e , w ill c o m o b e f o r e t h e
C o u r t a t T o l e d o , v v h lo h c o n v e n e s a b o u t t h e f i r s t w e e k o f S e p t e m b e r . — V .
8 8 , p. 14 3 0 .
Toledo (O.) Railways & Light Co.— C i r c u l a r . — The “ com
mittee for bondholders and secured creditors,” of which
J. R. Nutt is Chairman and George II. Kelly, American
Trust Building, Cleveland, ()., and H. R. Dennis, 24 Broad
St., New York City, are Secretaries, sent a circular under
date of New York, June 15 1909, to the holders of 4%
consolidated first mortgage gold bonds and secured creditors,
saying in substance:
O f t h o $ 4 ,8 6 6 ,0 0 0 4 % o o n s o ls o u t s t a n d i n g In t h e h a n d s o f I n v e s t o r s ,
u p w a r d s o f $ 4 ,4 0 0 ,0 0 0 t h e r e o f h a v e b e e n d e p o s i t e d w i t h t h e c o t n m l t t c o .
O f th o s e c u r e d in d e b t e d n e s s u p w a r d s o f $ 8 0 0 ,0 0 0 h a s b e e n d e p o s i t e d w i t h I t .
F o r d , B a c o n A D a T la h a v o m a d e a m o s t t h o r o u g h e x a m i n a t i o n a n d
105
r e p o r t t o t h e c o m m i t t e e t h a t t h e p r o p e r t i e s a r c In g o o d p h y s i c a l c o n d it io n
a n d a r e b e in g c o m p e t e n t ly o p e r a te d .
T h e s t o c k h o ld e r s h a v e r e c e n t l y o r g a n i z e d a s t o c k h o l d e r s ' p r o t e c t i v e
c o m m i t t e e c o n s i s t i n g o f t h e f o ll o w i n g m e m b e r s :
W illia m E . H u tt o n ,
J o s e p h F . D e m e r s , J a y K . S c c o r , F r e d e r i c k H . G o lf a n d J o s e p h A f. S p e n c e r ,
w h i c h w ill b e In a p o s it io n t o d e a l e f f i c i e n t l y w i t h a l l q u e s t i o n s a r i s i n g In t h e
r e a d ju s t m e n t o f th e a lla lr s o f th e c o m p a n y .
Y o u r c o m m i t t e e h a s fr o m t i m e t o t i m e a s s i s t o d t h e c o m p a n y f i n a n c i a l l y
to th e e x t e n t o f t e m p o r a r ily p r o v id in g fu n d s to c a r e fo r m a t u r in g In te re s t
o n u n d e r ly in g b o n d s , p r a c t ic a lly a ll o f w h ic h a d v a n c e s h a v e b e e n r e p a id
to th e c o m m itte e o u t o f e a r n in g s .
T h e c o m m l t t o e c o n t e m p la t e s a f f o r d i n g
t h e c o m p a n y s i m i l a r t e m p o r a r y r e l i e f in f u t u r e I f n e o o s s a r y .
P a r t l y t h r o u g h th e e lfo r t s o f th e c o m m it t e e th o o o m p a n y h a s b e e n e n a b le d
to c lle c t a n e x te n s io n o f th e $ 1 ,0 6 6 ,0 0 0 5 % fir s t m o r t g a g e b o n d s o f th e
T o le d o C o n s o lid a te d S t r e e t B y . C o . a n d th e $ 4 ,2 3 1 ,0 0 0 5 % c o n s o lid a te d
f i r s t m o r t g a g e g o ld b o n d s o f t h e T o l e d o T r a c t i o n O o . f r o m J u l y 1 1 0 0 9 t o
Ja n . 1 10 12 .
T h l s e x t e n s on r e l i e v e s t h e c o m p a n y fr o m c o m p l i c a t i o n s a n d
l i t i g a t i o n l i k e l y t o h a v e r e s u lt e d f r o m a d e f a u l t t h e r e o n , a n d e n a b l e s It t o
t a k e u p w ith o u t u n d u e h a s te th e q u e s tio n o f t h e e x te n s io n o f th e m a tu r in g
s tr e e t r a ilw a y fr a n c h is e s .
A lt h o u g h , a s s h o w n b y it s a n n u a l r e p o r t , t h e o o m p a n y a p p a r e n t ly e a r n e d
m o re th a n s u ffic ie n t to p a y th e In te re st o n Its 4 % b o n d s fo r th e y e a r 19 0 8 .
a n d l i k e v is e e a r n e d a s u f f i c i e n t p r o p o r t i o n a t e a m o u n t d u r i n g t h e f i r s t f o u r
m o n th s o f t h e p r e s e n t y e a r , t h e c o m p a n y h a s b e e n u n a b le to p a y a n y t h in g
o n a c c o u n t o f s u c h In t e r e s t b y r e a s o n o f t h e r e q u i r e d c a s h e x p e n d i t u r e s f o r
a c c r u e d c u r r e n t lia b ilit ie s a n d n e c e s s a r y I m p r o v e m e n ts a n d b e t t o r m e n t s ,
th e e a r ly m a t u r it y o f so m e o f its s tr e e t r a ilw a y fr a n c h is e s m a k in g it im
p o s s i b le f o r t h e c o m p a n y t o p r o v i d e f o r s u c h e x p e n d i t u r e s b y t h e is s u e o f
fu r th e r o b lig a tio n s .
,
T h e e x p ir a t io n s o f th e s tr e e t r a ilw a y fr a n c h is e s a r e a p p r o x im a t e ly a s
f o ll o w s :
9 . 5 m ile s o f s t r e e t In 1 9 1 0 ; 0 . 1 m ile s o f s t r e e t In 1 0 1 3 : 4 2 m ile s
In 1 9 1 1 ; 1 2 . 2 m ile s In 1 9 1 5 ; 2 . 3 m ile s In 1 9 1 6 ; 1 . 5 m ile s In 1 9 3 0 ( o o u n t y ) ;
0 . 7 m ile s In 1 9 3 2 ( c o u n t y ) : 0 .6 m ile s o n p r i v a t e r i g h t o f w a y .
T o t a l , 6 8 .9
m ile s .
T h e c o m m i t t e e Is I n f o r m e d b y c o u n s e l t h a t t h e g a s a n d e l e c t r i c
fr a n c h is e s a n d p riv ile g e s a r e p e r p e tu a l.
N o t w it h s t a n d in g t h a t th e c o m p a n y w ill n o t b o a b le to p a y p r o m p t ly t h e
p r in c ip a l o f o r in te r e s t o n th e 4 % b o n d s m a t u r in g J u l y 1 19 0 9 , a n d w ill
t h e n b e in d e f a u lt a s t o t h r e e i n t e r e s t p a y m e n t s , t h e c o m m lt t o e Is o f o p in io n
t h a t n o s u m m a r v a c t i o n s h o u ld b e p r e s e n t l y t a k e n a g a i n s t t h e c o m p a n y
o n a c c o u n t o f s u c h d e fa u lt s .
T h e c o m m itte e a n d th e o ffic e r s a n d d ir e c t o r s
a n d t h e s t o c k h o ld e r s ’ p r o t e c t i v e c o m m i t t e e a r e w o r k i n g i n e n t i r e h a r m o n y
a n d In t h e b e s t I n t e r e s t s o f a l l c o n c e r n e d .
T h e o o m m ltte e s c o n s u lte d a s
t o a l l m a t e r i a l m a t t e r s a n d . In It s o p i n i o n , t h o a p p l i c a t i o n o f p a s t e a r n i n g s
f o r t h e p u r p o s e s a b o v e m e n t io n e d w h ic h m i g h t o t h e r w i s e h a v e b e e n a p p l i e d
to w a r d s th e p a y m e n t o f In te re st on th e 4 % b o n d s w a s fo r th e b e s t in te re s ts
o f t h e h o ld e r s o f s a i d b o n d s .
T h e s t o c k h o ld e r s ' p r o t e c t i v e c o m m i t t e e Is c o n s i d e r i n g p la n s f o r r e f u n d i n g
a n d b r i n g i n g a b o u t a u n if ic a t i o n o f t h e s e c u r e d I n d e b t e d n e s s b y t h o i s s u e o f
s e c u re d c o lla te r a l tr u s t n o te s to m a tu r e J a n . 1 1 9 1 2 .
I f th is c a n b e a c
c o m p l i s h e d It w i l l a i d m a t e r i a l l y in s t r e n g t h e n i n g t h e f i n a n c i a l c o n d it io n o f
th e c o m p a n y .
T h e r e c e n t s e t t l e m e n t o f t h e s t r e e t r a i l w a y f r a n c h i s e s i t u a t i o n in C h i c a g o
a n d t h e p r e s e n t I n v e s t i g a t i o n s a l o n g t h e s a m e lin e s in C l e v e l a n d a n d
D e t r o i t s h o u ld m a t e r i a l l y a i d t h e c i t y a n d t h e c o m p a n y in a g r e e i n g u p o n
m u t u a lly s a t is f a c t o r y te rm s fo r a r e n e w a l o f th o s tr e e t r a ilw a y fr a n c h is e s .
Y o u a r e r e m i n d e d t h a t It is o n l y t h e s t r e e t r a i l w a y f r a n c h i s e s w h i c h a r e I n
v o l v e d , f o r , a s s t a t e d a b o v e , t h e c o m m i t t e e Is a d v i s e d t h a t t h e e l e c t r i c
lig h t, e le c t r ic p o w e r , g a s a n d h e a tin g fr a n c h is e s a n d p r iv ile g e s a r e p e r p e tu a l.
— V . 8 8 , p . 1501. 1374.
Union Pacific RR.— S o u t h e r n P a c i f i c B o n d s S o l d . — The
report is confirmed that the company has sold its holdings
of Southern Pacific Company convertible 4% bonds, amount
ing to about $37,500,000, to Kuhn, Loeb & Co. See V. 89,
p. 44.
United Traction & Electric Co. of Providence.— E x c h a n g e o f
S t o c k . — The Union Trust Co. of Providence has exchanged
a block of 6,000 shares of the United Traction & Electric Co.
(the remainder of its holdings of 8,875 shares) for New York
New Haven & Hartford R R. stock, on the basis of the offer
made by the railroad company to the large holders, to give
five shares of its own stock for eight shares of traction stock.
There is $8,000,000 of this stock, and for the past seven
years it has been receiving dividends at the rate of 5% per
annum. While, so far as known, no general offer of exchange
has been sent to stockholders, it is supposed the privilege
of exchange would be granted to any stockholder desiring it.
— V. 87, p. 1012.
Virginia Railway & Power Co., Richmond, &c.— I n
P o s s e s s i o n . — At midnight June 30 this new company formally
succeeded to the properties of the Virginia Passenger &
Power Co.— V. 89, p. 44.
Wabash RR.— D e c i s i o n . — The United States Circuit Court
of Appeals at Cincinnati, Ohio, on July 7, following the de
cision of the Ohio Supreme Court in April 1906, held that
the Toledo & Wabash RR. equipment bonds dated May 1
1862, of which $600,000 were issued, had a prior lien on the
road extending from Toledo to the Indiana State line, about
80 miles. The Court accordingly awarded judgment to the
estate of Henry L. Compton of Toledo, O,, as the holder of
$150,000 of the bonds, against the Wabash R R ., the total
amount of the claifn now aggregating about $900,000.
T h e h o ld e r s o f s u b s t a n t i a l l y a l l o f t h e r e m a i n i n g b o n d s a l s o b r o u g h t s u i t s ,
b u t t h e i r c l a i m s , i t is h e ld b y t h e C i r c u i t C o u r t o f A p p e a l s , a r e o u t l a w e d
a s h a v i n g b e e n b r o u g h t t o o l a t e , t h e i r b o n d s n o l o n g e r p o s s e s s i n g a li e n
a g a in s t th e ro a d .
C o m p a r e V . 8 6 , p . 1 7 0 ; V . 8 2 , p . 9 8 8 .— V . 8 9 , p . 4 4 .
Western Maryland RR.— S t a t e m e n t as to R e o r g a n iz a ti o n
N ext
W e e k . — The bondholders’
committee on
Thursday announced that holders of a majority of the “ gen
eral lien and convertible” bonds had decided to declare the
$10,000,000 principal of the bonds due and payable, and
would instruct the trustee to bring foreclosure proceedings,
interest on the bonds being in default. Plans for reorganiza
tion are rapidly maturing, and the committee will probably
give out a statement regarding the same next week.— V. 88,
p. 1255, 1003.
Western New York & Pennsylvania Ry.— R e o r g a n iz a ti o n
R u m o r s . — The Philadelphia “ Financial Bulletin” in a recent
issue stated:
E x p e c te d
I t Is l e a r n e d t h a t a v e r y d e f i n i t e c h a n g e h a s t a k o n p la c e In t h e P e n n s y l
v a n i a R a i l r o a d ’ s o r i g i n a l p la n f o r f i n a n c i n g t h o W e s t e r n N e w Y o r k &
P e n n s y lv a n ia ro a d .
I n s t e a d o f d e f a u l t b e in g m a d e J u l y 1 o n t h e f i r s t
m o rtg a g e b o n d s , a n d a c o n s e q u e n t re o r g a n iz a tio n o f th e p r o p e r ty , t h a t
i n t e r e s t w ill b e p a i d , a s w e l l a s t h e i n t e r e s t d u e O c t . 1 o n t h e g e n e r a l
m o r t g a g e b o n d s , a n d in a n y r e a d j u s t m e n t p la n t h o p r e s e n t p o s it io n o f t h e
g e n e r a f m o r t g a g e b o n d s w ill n o t b e d i s t u r b e d .
O r ig in a l p la n s c a ll e d f o r a
s c a lin g d o w n o f th e In te re st on th e g e n e ra l m o rtg a g e is su e a n d th e Issu a n c e
o f a n e w a n d o p e n m o r t g a g e t o t a k e c a r e o f a l l th o p r e s e n t o u t s t a n d i n g
I s s u e s . — 'V . 8 8 , p . 1 1 2 3 .
■
....
Yellowstone Park RR.— R e c e i v e r s h i p . — Proas reports state
that the United States Circuit Court for tho Ninth Circuit,
THE CHRONICLE
106
District of Montana, on June 30 appointed M. W. Maguire
and H. It. French as temporary receivers, pending action on
the application for the appointment of a permanent re
ceiver. - V . 88, p. 1562.
[VOL.
L X X X IX .
A bstract of Letter from President Samuel W . F ordyce. St. Louis. June 5 ’09.
T h e c o m p a n y n o w o w n s a n d o p e r a te s , w ith o u t c o m p e titio n , th e w a t e r ,
g a s a n d e l e c t r l c - l l g h t p l a n t s l o c a t e d In t h e C i t y o f H o t S p r i n g s , A r k .
T h ese
b o n d s a r e s e c u r e d b y a ( c lo s e d ) l l r s t m o r t g a g e o n a l l o f t h e p r o p e r t y a n d
fr a n c h is e s , n o w o w n e d o r h e r e a fte r a c q u ir e d b y th is c o m p a n y .
In F e b .
19 0 8 t h e r e p la c e m e n t v a lu e o f th e p h y s ic a l p r o p e r t y w a s a p p r a is e d b y th e
M a n u f a c t u r e r s ' A p p r a i s a l C o . o f C l e v e l a n d , O h io , a t $ 1 , 0 8 0 , 0 8 0 , v i z . :
W a t e r p la n t , $ 5 5 3 ,5 4 4 ; g a s p la n t , $ 1 8 8 , 3 9 1 ; e le c t r ic p la n t , $ 3 3 8 , 1 4 5 .
S in c e th e n s u b s t a n tia l Im p r o v e m e n ts a n d a d d itio n s h a v e b e e n m a d e to th e
p r o p e r t y a n d th e o w n e r s c o n s id e r th is e n tir e p r o p e r t y to b e c o n s e r v a t iv e ly
w o rth $ 1 ,7 5 0 ,0 0 0 .
.
E a r n i n g s f o r th e Y e a r s 1 9 0 6 , 1 9 0 7 , 1 9 0 8 a n d th e F i r s t F o u r M o n t h s o f 1 9 0 8
a m t 19 0 9 .
-------- Y e a r e n d in g D e c . 3 1 ------------J a n . 1 to A p r . 3 0
19 0 6 .
19 0 7 .
1 9 0 8 . ----------- 1 9 0 8 .
19 0 9 .
G ro s s e a r n in g s
. ____$ 2 3 4 , 1 1 2
$ 2 3 8 ,5 7 5
$ 2 5 0 ,7 6 8
$ 8 6 ,6 3 3
$ 9 3 ,6 4 8
N e t e a r n i n g s _____________ $ 8 0 ,6 6 6
$ 9 0 ,2 7 4
$ 10 4 ,0 9 2
$ 4 0 ,9 2 2
$ 4 8 ,2 8 7
INDUSTRIAL, GAS AND MISCELLANEOUS.
Arnold Print Works, North Adams, Mass.— B o n d s O f fe r e d .
—The company is offering 8100,000 6% first mortgage 4 Y z year gold bonds at a price to net over 6 )4 % .—-V. 88, p.
946, 160.
Columbia Gas & Electric Co.— F a v o r a b l e D e c i s i o n . — Judge
Phillips at Cleveland, O., on July 1 dismissed the suit
T h e n e t e a r n i n g s a r e t h e r e f o r e in e x c e s s b y f o u r t i m e s t h e I n t e r e s t c h a r g e s
brought by Mrs. Margaret Smith as a stockholder of the o n t h i s i s s u e . T h e C i t y o f H o t S p r i n g s h a s a n a t i o n a l r e p u t a t i o n a s a h e a l t h
People’s Gas Light Co. of Cleveland to set aside the consoli aa sn ds h po wle ans ubrye trhees orretv. e n uAe coofn tshe er vpa ut ibv lei c e us ttiiml i tayt ec oomf pt ha en i er es ,s i idse anpt ppr oo px iuml aat itoe nl y,
dation of that company and the Cleveland Gas Light & Coke 1 7 , 0 0 0 . T h e t r a n s i e n t p o p u l a t i o n , w h i c h Is c o n s t a n t l y g r o w i n g , a v e r a g e s
Co. on the ground that the same was effected without her f1a0 i,r0 0t o0 s aoyr t1h2 a, 0t 0t0h eisne apdudbi tl iico nu ttiol i ttihe se sr ee rs vi de e annt s aavte raal gl et i mp oeps u. l a tIito nis o, ft h2 e5 r, 0e 0f o0r.e ,
consent.— V. 88, p. 1131.
T h e w a t e r f i a n c h i s e i s e x c l u s i v e a n d e x p i r e s in 1 9 3 1 ; t h e g a s f r a n c h i s e i s
p e r p e t u a l : t h e e l e c t r i c f r a n c h i s e e x p i r e s in 1 9 3 3 .
T h e s e fr a n c h is e s a r e b a s e d
Consolidated Gas Co., New York.— A c q u i s i t i o n . — See o n c o n t r a c t s w i t h t h e c i t y g o v e r n m e n t , c o n t a i n i n g r a t e s c h e d u l e s n o t s u b
Westchester Lighting Co. below and compare V. 88, p. 1623. j e c t t o r e v i s i o n b y t h e c i t y g o v e r n m e n t d u r i n g t h e t e r m o f t h e c o n t r a c t s .
A p p l i c a t i o n w ill b e m a d e t o l i s t t h e s e b o n d s o n t h e b t . L o u i s S t o c k E x
Consolidated Lithograph Co.— R e o r g a n i z a t i o n . — A reor c h a n g e .
Independent Brewing Co., Pittsburgh, Pa.— P l a n M o d i
ganization of some sort, it is understood, is pending. At
auction in this city on Thursday the following-described se f i e d .— The plan for converting the common stock into pre
curities were sold for 810,000, indicating that interest has ferred stock on the basis of 7)4 shares of common for one of
new preferred received the assent of only about one-third of
not been promptly paid in cash:
the common shares and has therefore been abandoned. It
$ 3 6 ,0 0 0 c o lla t e r a l t r u s t 5 % 2 0 - y e a r g o ld b o n d s d u e A p r il 1 9 2 5 , w ith
A p r i l 1 9 0 9 a n d s u b s e q u e n t c o u p o n s a t t a c h e d : a n d a $ 3 , 6 0 0 6 % b o n d In
is now proposed to carry out solely the sinking fund feature
te re s t n o te o f th e c o m p a n y , N o . 5 5 , d u e J u l y 1 2 1 9 1 2 . — V . 8 3 , p . 5 6 1 , 4 9 5 .
for the retirement of the first mortgage bonds, the appropria
Corn Products Refining Co.— P u r c h a s e o f C o u p o n s — P r o tions on account of which will not begin until December 1911.
p o s e d R e o r g a n iz a ti o n o f N a t i o n a l S ta r c h C o . — See that com
Compare V. 88, p. 161.
pany below and advertisement on another page.— V. 88, p.
Indianapolis Gas Co.— I n j u n c t i o n R e f u s e d . —-Judge Ander
1623, 1439.
son in the United States District Court on July 3 denied the
Dominion Coal Co., Ltd.— B o n d s O f f e r e d . — C. Meredith application of the company for a temporary injunction re
& Co., Ltd., Montreal, are offering 8700,000 first mortgage straining the enforcement of the 60-cent gas law.
5% gold bonds at 97)4 and interest, yielding 5)4 % .
T h e r e f u s a l Is b a s e d s o l e l y o n t h e g r o u n d t h a t t h e c o m p a n y li a s h a d
S t r i k e . —The company’s miners have gone out on a strike.
t w o y e a r s a n d f o u r m o n t h s s i n c e t h e p a s s a g e o f t h e la w t o b r i n g s u i t t o t e s t
Its c o n s t it u t io n a lit y , a n d t h a t It w a s n o t Ju s t o n t h e e v e o f th e e x p ir a t io n
Compare V. 88, p. 1624.
o f th e 10 - y e a r 9 0 -c en t c o n tr a c t w ith th e c it y to a s k fo r a t e m p o r a r y in
Dominion Iron & Steel Co.— B o n d s O f f e r e d . — The Domin- j u n c t i o n w h i c h w o u ld h a v e t h e e lT e ct o f p u t t i n g I n t o o p e r a t i o n t h e r a t e s
y a n n o u n c e d b y th e c o m p a n y .
T h e s e r a t e s th e C o u r t c o n s id e rs
on Securities Corporation, Ltd., of Toronto, &c., and simul ruencfeani rt l In
t h a t t h e y d is c r im in a t e a g a in s t th e s m a ll c o n s u m e r .
I t w a s h e ld
taneously in England Speyer Brothers of London, offered for t h a t w h i l e t h e p r o v i s i o n f o r a p e n a l t y o f $ 1 , 0 0 0 a d a y m i g h t n o t b e v a l i d ,
t h a t p r o v is io n c a n b e s e p a r a te d fr o m th e r e m a in d e r o f th e la w w ith o u t
subscription this week, at 93 and interest, £1,200,000 (85, I m p a i r i n g t h e A c t I t s e l f .
.
.
T h e c o m p a n y c la im e d t h a t t h e R o b e r t D ix o n fr a n c h is e w a s t r a n s fe r r e d
840,000) 5% consolidated mortgage bonds due Sept. 1 1939,
t o J o h n S . T a r k l n g t o n In 1 8 8 1 b y s h c r i l l ’ s s a l e a n d Is n o w o w n e d b y t h e
forming part of a total authorized issue of not exceeding c o m p a n y , a n d t h a t t h i s f r a n c h i s e , w h i l e n o t p e r p e t u a l , Is w i t h o u t t i m e l i m i t ,
•£4,109,589:0:10 (820,000,000) in sterling and currency, b e in g g o o d f o r a s lo n g a t i m e a s t h e r e Is n e e d f o r g a s In I n d i a n a p o l i s a n d
th e s e r v ic e is o f v a lu e to th e p u b lic .
T h e C o u rt e x p re s s e d d o u b t a s to
t h e s e c l a i m s : b u t t h e d e c is io n w a s b a s e d o n a n o t h e r g r o u n d , a s a b o v e s t a t e d .
— V . 89, p. 46.
exchange of $4 86 2-3. Denominations of £500, £200 and
£100; coupons payable M. & S.; first coupon payable March 1
1910. Subscriptions are payable 5% on application, 20%
on allotment, 25% Aug. 4 1909, 25% Sept. 2 1909, 18%
Sept. 25 1909, or in full under discount at rate of 1)4 % per
annum on allotment or on Aug. 4 or Sept. 2. A circular
says in part:
T h e c a p i t a l s t o c k Is $ 2 5 , 0 0 0 , 0 0 0 , d i v i d e d I n t o 5 0 ,0 0 0 p r e f e r e n c e s h a r e s
o f $ 1 0 0 e a c h a n d 2 0 0 ,0 0 0 o r d in a r y s h a r e s o f $ 1 0 0 e a c h .
A f t e r c o m p le t i o n
o f t h i s Is s u e t h e c o m p a n y 's b o n d e d d e b t w i l l b e $ 7 , 4 9 2 , 0 0 0 l l r s t m o r t g a g e
5 % b o n d s a n d £ 1 . 2 0 0 ,0 0 0 c o n s o l i d a t e d m o r t g a g e b o n d s .
T h e e x is tin g
$ 1 , 5 0 0 , 0 0 0 s e c o n d m o r t g a g e b o n d s w i l l b e r e t i r e d o u t o f t h e p r o c e e d s o f t h is
Issu e .
T h e 5 % c o n s o lid a te d m o r tg a g e b o n d s w ill b e s e c u r e d b y a m o rtg a g e
d e e d o f t r u s t , o f w h ic h th e N a t io n a l T r u s t C o ., L t d . , o f O n ta r io , w ill b e th e
t r u s t e e , c o v e r in g ( s u b le c t to th e llr s t a n d s e c o n d m o r tg a g e b o n d s) a ll p ro p e r t v n ow o w n e d o r t h e r e a ft e r a c q u ir e d .
A n a n n u a l s in k in g fu n d o f 1 %
o f t h e t o t a l a m o u n t o f c o n s o ls I s s u e d , I n c l u d i n g t h o s e s e t a s i d e t o r e d e e m
t h e l l r s t m o r t g a g e b o n d s ( le s s t h e a m o u n t o f t h e s i n k i n g f u n d p a i d o n a c
c o u n t o f t h e la t t e r ) Is p a y a b l e t o t h e t r u s t e e o n O c t o b e r 1 5 In e a c h y e a r a f t e r
1 9 1 0 f o r t h e p u r c h a s e a n d c a n c e l l a t i o n o f b o n d s a t a p r ic e n o t e x c e e d i n g
1 0 5 % a n d I n t e r e s t , b y t h e i r t e r m s r e d e e m a b l e I f c a ll e d b e f o r e m a t u r i t y .
A b s t r a c t o f P c p o rt o f P r i c e , W a te r h o u s e & C o .
T h e p ro tlts o f th e c o m p a n y b e fo r e c h a r g in g In te r e s t a n d d is c o u n t o n b o n d s
a n d l o a n s w e r e a s fo ll o w s f o r t h e y e a r s e n d i n g M a y 3 1 :
In 19 0 7 , $ 2 ,0 2 7 ,4 5 2 :
In 1 9 0 8 , $ 2 , 7 1 0 , 4 8 8 ; In 1 9 0 9 , $ 2 , 1 8 9 , 9 0 9 : t o t a l , $ 6 , 9 2 7 , 8 4 9 : a v e r a g e p e r a n
n u m , $ 2 ,3 0 9 ,2 8 3 .
T h e p r o l l t s o f $ 6 , 9 2 7 , 8 4 9 i n c lu d e $ 1 , 8 7 0 , 3 1 4 d e r i v e d
f r o m b o u n t i e s o n p i g Ir o n a n d s t e e l I n g o t s , w h i c h a r e o n a d e c r e a s i n g s c a le
a n d t e r m i n a t e o n D e c . 3 1 1 9 1 0 : a n d a l s o $ 1 , 0 6 7 , 3 2 3 f r o m b o u n t i e s o n w ir e
r o d s w h i c h a r e p a y a b l e a t a u n if o r m r a t e u n t i l t h e g r a n t i n g A c t Is r e p e a le d
b y P a r lia m e n t.
I n c lu d in g th e b o u n tie s o n w ir e r o d s b u t e x c lu d in g th e
t e r m in a t in g b o u n tie s o n p ig iro n a n d s te e l In g o ts , th e p r o fits fo r th e th re e
y e a r s e n d i n g M a y 3 1 w e r e a s f o ll o w s :
I n 1 9 0 7 , $ 1 , 7 2 2 , 3 0 4 - In 1 9 0 8 , $ 1 , 8 2 7 .
3 7 5 : In 1 9 0 9 , $ 1 , 5 0 7 , 7 9 5 : t o t a l , $ 5 , 0 5 7 , 4 7 4 , o r a n a v e r a g e p e r a n n u m o f
$ 1,6 8 5 ,8 2 5 .
T h e c o s t s o f p r o d u c t i o n h a v e In t h e p a s t s h o w n a s t e a d y r e
d u c t i o n , m o r e t h a n k e e p i n g p a c e w i t h t h e r e d u c t i o n In b o u n t i e s . I n a r r i v i n g
a t I t s p r o f i t s t h e c o m p a n y h a s d e d u c t e d s i n k i n g f u n d I n s t a ll m e n t s a n d o t h e r
p r o v i s i o n s In lie u o f d e p r e c i a t i o n a n d e x h a u s t i o n o f m i n e r a l s , t h e t o t a l f o r
t h e t h r e e y e a r s b e i n g $ 1 , 0 7 3 , 5 1 1 , w h i c h Is , In o u r o p i n i o n , a d e q u a t e .
C o m p a re V . 8 8 , p . 16 1 6 , 16 2 4 .
International Mercantile Marine Co.— See Oceanic Steam
Navigation Co. below and compare V. 89, p. 36.
International Steam Pump Co.— R e p o r t . — See “ Annual
Reports.”
B o n d s . —The “ Wall Street Journal” yesterday said:
“ It
is understood that the International Steam Pump Co. is
contemplating a bond issue of $6,000,000 or $7,000,000 and
that the plan under which the bonds will be issued will be
ready within a short time. The present funded debt of the
company is $3,500,000 convertible debenture 6s, due January
1913, and $700,000 first mortgage 5s of the Holly Manufactur
ing Co., due January 1921.” —-V. 88, p. 1256, 297.
Jones & Laughlin Steel Co., Pittsburgh.— C o n tra c t L e t for.
T i n P l a n t . — The company has placed a contract for the build
ing of 12 hot tin mills and 15 cold mills for its new tin plate
plant, to be erected at Aliquippa, Pa., where its new steel
mill will also be located. The company will eventually,
it is stated, have a 30-mill tin plate plant at Aliquippa.—
V. 88, p. 1256, 825.
Kansas Natural Gas Co.— O k la h o m a G a s L a w H e l d I n v a l i d .
__Judges Pollock and Campbell in the United States Circuit
Court,in the suits brought by the company and three other
complainants, either pipe-line companies or the owners of
gas-producing properties, to restrain the enforcement of the
Oklahoma law of 1907 intended to prevent the piping of oil
and gas out of the State, on July 3 overruled the demurrers
interposed by the defendants.
T h e A c t in a d d i t i o n t o p r o v i d i n g t o r t h e i n s p e c t i o n o f p i p e lin e s a n d s t a t
in g c e r t a i n r e g u l a t i o n s c o n t r o l li n g t h e m , a l s o p r o v i d e s t h a t o n l y c o r p o r a
tio n s o r g a n iz e d u n d e r th e la w s o f th e S t a t e c a n c o n d u c t th e b u sin e s s o f c a r
r y in g g a s b y p ip e lin e s , w it h c e r ta in m in o r e x c e p tio n s , a n d , fu r t h e r , t h a t
s u c h c o r p o r a t i o n s s h a l l In n o i n s t a n c e t r a n s p o r t g a s f r o m t h e S t a t e , n o r
c o n n e c t w i t h a n v p i p e l in e s o t r a n s p o r t i n g t h e s a m e .
T h e C o u rt s a y s th e m a n ife s t p u rp o s o o f th e la w w a s to p r e v e n t t r a n s
p o r t a t i o n o f n a t u r a l g a s f r o m t h e S t a t e ; t h a t n a t u r a l g a s Is a n a r t i c l e o f
In t e r - S t a t e c o m m e r c e , th e s a m e a s c o rn , w h e a t, c o tto n , c o a l o r a n y o th e r
c o m m o d i t y , a n d i t s s a l e a n d t r a n s p o r t a t i o n in i n t e r - b t a t e c o m m e r c e is a
m a t t e r t o b e r e g u la t e d s o le ly b y C o n g re s s : t h a t th e S t a t e h a s n o t th e t it le
In fe e t o t h e h i g h w a y s , b u t o n l y a n c a s e m e n t t h e r e in f o r t h e p u r p o s e o f
p u b lic t r a v e l a n d o f Im p r o v in g a n d m a in t a in in g th e h ig h w a y s ; b u t t h a t
t h e f e e t o t h e l a n d t h r o u g h w h i c h t h e h i g h w a y s r u n is In t h e a b u t t i n g
p r o p e r t y o w n e r s , a n d t h a t s u c h ow n e r s m a y u s e t lie l a n d f o r a n y a n d a l l
l a w f u l p u r p o s e s w h i c h d o n o t c o n l l i c t w i t h t h e r i g h t s o f t h e S t a t e In t h e
sa m e a s a h ig h w a y .
T h e o w n e r s o f s u c h l a n d . It is h e l d , m a y t h e r e f o r e
p r o p e r ly e n t e r I n t o c o n t r a c t s w i t h p i p e - l i n e c o m p a n ie s f o r t h e l a y i n g o f
p ip e s u n d e r h ig h w a y s ; a ls o t h a t In a s m u c h a s th e c o m p la in a n t s d o n o t s e e k
th e r ig h t to s e ll a n d d is t r ib u t e g a s w ith in th e S t a t e , b u t m e r e ly to la y
t h e p ip e lin e s o v e r r i g h t s o f w a y t h e r e t o f o r e s e c u r e d b y t h e m f o r t h e p u r
p o s e o f t r a n s p o r t i n g g a s f r o m t h e S t a t e , n o f i a n c h i s e o r p e r m i s s i o n Is
n e c e s sa ry fro m th e S t a t e .— V . 8 8 , p- 14 3 3 .
Gainesville (Tex.) Water Co.— N o t i c e to B o n d h o l d e r s .—
Default having been made in the payment of the interest
due July 15 1908, and subsequently, on the first mortgage
bonds, a committee, consisting of S. Fay Carr, Erie County
Bank Bldg., Buffalo, N. Y .; Virgil M. Harris, care Mercan
tile Trust Co., St. Louis, Mo., and Francis F. Baker, 536
Ellicott Square, Buffalo, N. Y ., has been organized, with
a view of devising an equitable plan for the protection of
the first mortgage bondholders. The committee invites
deposit of the bonds ^ith the Commonwealth Trust Co.,
Buffalo, N. Y ., by July 15 next. See advertisement in
last week's “ Chronicle.” Compare V. 79, p. 106.
Hot Springs (Ark.) Water Co.— B o n d s O f f e r e d .— Whitaker
Keene (N. H.) Gas & Electric Co.— Baker, Ayling & Co.,
& Co., St. Louis, are offering, at prices to yield 5 )4 % , 8231,
000 first mortgage 5% serial gold bonds dated June 1 1909. Boston, Philadelphia, etc. recently offered,at a price to net
Interest payable J. & D. Principal and interest payable at about 5% , first mortgage 5% bonds, dated Feb. 1 1905
St. Louis Union Trust Co., trustee. . Total issue, 8500,000, and due Feb. 1 1935, but subject to call on any interest
maturing in installments on June 1, 810,000 in 1910 and in date at 103 and interest. Coupons F & A in Boston. De
creasing $1,000 each yqar (in 1920 and 1925 increase $2,000) nominations $500 and $1,000. A circular says:
o r a b o u t 50 y e a r s , h a r in g
to $30,000 in 1927, and again in 1928, and $125,000 in 1929, b e Te nh ei nccoomr ppoar na tye dh aIns bIe8e6n0 .in sPuecrcpees tsuf ua ll oc ph ea rr at et iro fnr of m
th e S t a t e a n d fr a n c h is e
but redeemable on 60 days’ notice at 105 and interest.
fro m th e c i t y .
D o e s a l l o f t h e g a s , e l e c t r i c l i g h t a n d p o w e r b u s i n e s s in a n d
a b o u t th e c it y .
O w n s tw o w a t e r p o w e rs a n d a m o d e rn g a s p ro d u c e r p la n t ’
•a n d a l a r g e s t e a m r e s e r v e p la n t w b le b Is u s e d d u r i n g a p o r t i o n o f t h e y e a r C a p it a l iz a t io n . S t o c k o u t s t a n d i n g , p a y i n g 5 % d i v i d e n d s , $ 1 5 0 , 0 0 0 ;
p r e fe r r e d s t o c k o u t s t a n d in g , p a y in g 4 % d iv id e n d s , $ 5 0 ,0 0 0 ; b o n d s o u t s t a n d
in g $ 1 7 3 , 0 0 0 .
T h e s t o c k Is h e ld b y s t r o n g lo c a l I n t e r e s t s , a n d s e l d o m
a p p e a r s upon th e m a rk e t.
T h e l a s t Q u o t a t io n w a s o v e r $ 1 2 0 p e r s h a r e ,
b e g in n in g A u g . 1 9 1 0 , s in k in g fu n d w ill r e t ir e $ 2 ,0 0 0 b o n d s a n n u a lly b y
l o t a t 103 a n i l i n t e r e s t , i f n o t o b t a i n e d a t a l e s s p r i c e .
E a r n i n g s f o r c a le n d a r
y e a r 19 0 8 , g r o s s , $ 5 7 ,5 9 6 ; n e t , $ 2 5 ,2 8 5 ; b o n d In t e r e s t fo r y e a r , $ 7 ,4 0 0 ;
b a la n c e , $ 1 7 ,8 8 5 .
Kennett Electric Light, Heat & Power Co., Kennett
Square, Pa.— I n R e c e i v e r ’s H a n d s . — Augustus Brosius of
Avondale, Pa., has been appointed receiver. A technical
periodical says:
T h e c o m p a n y h a s b e e n In f i n a n c i a l s t r a i t s f o r s o m e t i m e .
A le tt e r Is su e d
s h o r t t im e a g o b y G e n e r a l M a n a g e r R a l p h R h o a d e s c h a r g e s g r o s s l l n a n c l a l
m is r e p r e s e n t a t i o n a n d m i s m a n a g e m e n t .
H e s ta te s th a t th ere a rc $ 10 5 ,0 0 0
f i r s t m o r t g a g e b o n d s , $ 3 0 0 , 0 0 0 In s t o c k , $ 2 7 , 0 0 0 o v e r d u e n o t e s , $ 3 , 0 0 0
u n p a id b ills a n d $ 1 , 0 0 0 in u n p l i d s a l a r i e s a g a i n s t t h e e o in p m y , a n d t h a t i n
t e r e s t o n th e b o n d s h a s n e v e r b e e n e a r n e d , b u t p a id o u t o f s to c k s s o ld , a n d
t h a t If t h e p l a n t w a s t o b e s o l d a t a f o r c e d s a l e It w o u ld n o t b r i n g $ 5 0 , 0 0 0 .
T h e p la n t Is s a i d t o b e n o w c o n t r o l le d b y t h e U n i t e d P u b l i c S e r v i c e C o r p o r a
t i o n . w i t h h e a d q u a r t e r s In P h i l a d e l p h i a .
Kirby Lumber Co.— E n d o f R e c e i v e r s h i p . — Judge Waller
T. Burns of the United States Circuit and District Court at
Houston, Tex., July 2 ordered the receivers to turn over the
property to the company. The “ Houston Post” said:
A s s t a t e d in a p p l i c a t i o n file d in t h e C o u r t y e s t e r d a y , t h e [ o ff ic e r s o f t h e
c o n c e rn o b ta in e d $ 2 ,5 0 0 ,0 0 0 b y th e s a le o f re a l e s t a t e a n d e x e c u tio n o f a
m o r t g a g e , w h ic h m o n e y Is to b e u s e d in [ l a y i n g o l f t h e I n d e b t e d n e s s o f t h e
com pany.
A l t h o u g h n o t s t a t e d In t h e a p p l i c a t i o n , It Is l e a r n e d t h a t r e a l
e s t a t e to t h e e x t e n t o f $ 1 , 9 8 0 , 3 4 8 h a s b e e n s o ld t o .1. R . C h a p m a n o f C h i
c a g o , V ic e - P r e s id e n t o f A m e r ic a n T r u s t & S a v in g s B a n k , a n d t h a t h e h a s
In a d d i t i o n t h e r e t o a g r e e d t o a d v a n c e t o t h e c o m p a n y $ 5 0 0 , 0 0 0 , s e c u r e d b y
a m o rtg a g e o n th e b a la n c e o f its p r o p e r ty .
A f t e r t h e t o t a l I n d e b t e d n e s s , a m o u n t i n g t o $ 1 , 5 0 0 , 0 0 0 , Is w i p e d o u t
t h e r e w dll b e a w o r k i n g c a p i t a l o f $ 2 , 0 0 0 , 0 0 0 d e p o s i t e d In t h e H o u s t o n b a n k .
“ T h e r e Is a m p l e m o n e y in t h e b a n k h e r e , ” s a i d P r e s i d e n t J o h n 1 1 . K i r b y ,
“ to p a y a ll th a t th e c o m p a n y o w e s a n d m o re .
W e a r e p a y in g t h e c la im s
In f u l l, I n c lu d in g I n t e r e s t , w i t h o u t r e g a r d t o w h e t h e r t h e y a r e b a r r e d b y
lim ita tio n o r o th e r w is e .
W e a r e m a k in g n o d is t in c t io n b e tw e e n c r e d ito r s .
1 h a v e n o t a s k e d a c r e d i t o r a t a n y t i m e , n o r h a s a n y o n e f o r o r o n b e h a lf
o f t h e c o m p a n y a s k e d a n y c r e d i t o r , t o a b a t e Ills c la i m o n e c e n t .
I have
a l w a y s k n o w n t h a t t h e c o m p a n y 's a s s e t s w o u ld e n a b l e I t t o p a y e v e r y
d o l l a r t h a t It o w e d , a n d I h a v e g i v e n t h e c r e d i t o r s e v e r y a s s u r a n c e In m y
p o w e r t h a t t h is w o u ld b e d o n e .
" A l t e r h a v i n g s e t t l e d o u r l i t i g a t i o n w i t h t h e H o u s t o n O il C o . a n d M a r y
la n d T r u s t C o ., a n d h a v in g h a d o u r s t u m p a g e c o n t r a c t a d ju d i c a t e d so t h a t
o u r s u p p l y o f r a w m a t e r i a l Is a b s o l u t e l y s e c u r e d , I h a v e c o n f id e n c e t h a t w e
c a n d o a f a i r l y p r o f i t a b l e b u s i n e s s a n d in t i m e b e a b l e t o p a y s o m e t h i n g t o
o u r s t o c k h o ld e r s .”
C o m p a r e H o u s t o n O il C o . in V . 8 8 , p . 10 0 4 .
Lawyers’ Mortgage Co., New Y o r k . — S e m i - A n n u a l S t a t e
statement for the .six months ending June 30
last is given in an advertisement on another page. The earn
ings and expenses were as follows:
m e n t . —The
S ix M o n th s.
G ro ss.
N et.
D iv id e n d s .
B a l., S u r p .
19 0 9
$ 3 0 2 ,7 8 0
$ 2 2 9 ,8 9 9
( G ) $ 15 0 ,0 0 0
$ 7 9 ,8 9 9
19 0 8
2 7 6 ,3 8 3
2 2 1,8 2 2
( 5 )12 5 ,0 0 0
9 6 ,5 2 2
1 9 0 7 ............................... 2 4 2 , 1 8 9
19 1,0 4 2
( 5 )12 5 ,0 0 0
6 6 ,0 4 2
T h e a m o u n t o f g u a r a n t e e d m o r t g a g e s s o ld d u r i n g t h e 6 m o n t h s w a s
$ 1 6 , 8 9 7 , 5 0 1 . a g a i n s t $ 1 2 , 9 4 2 , 2 5 9 In t h e c o r r e s p o n d i n g p e r i o d In 1 9 0 8 a n d
$ 4 , 6 3 3 , 2 0 4 111 1 9 0 3 .
T h e a m o u n t o f o u t s t a n d in g g u a ra n te e d m o rtg a g e s
o n J u l y 1 1 9 0 9 w a s $ 8 6 , 9 0 5 , 9 0 3 , a g a i n s t $ 0 9 , 0 3 1 , 1 6 8 III 19 0 8 a n d $ 1 4 , 9 2 6 ,
5 2 5 in 1 9 0 3 .
T h e e a r n i n g s a n d t h e n e t g a i n In o u t s t a n d i n g m o r t g a g e s
w e r e t h e l a r g e s t In t h e h i s t o r y o f t h e c o m p a n y . — V . 8 8 , p . 1 2 5 7 .
Lewiston
107
THE CHRONICLE
July lo 1 9 0 0 .i
Auburn (Me.) Electric Light Co.— B o n d s O f
Parker & Co., Boston, are offering, at 102 and
interest, the unsold portion of §1,200,000 (closed issue)
first mortgage 5% gold bonds of §1,000 each, dated June 1
1909 and due June 1 1939. Old Colony Trust Co., Boston,
Mass., trustee. An advertisement says:
&
f e r e d . — Jose,
bearing date Dec. 4 1908 between certain creditors and the
committee, the said committee has adopted and filed with
the Bankers' Trust Co. a plan for the readjustment of the
debt of the company. A pamphlet says in substance:
T h i s p la n c o n t e m p l a t e s t a k i n g t h e c o m p a n y o u t o f t h e h a n d s o f t h e
r e c e i v e r s a n d o p e r a t i n g o n l y t h e f a b r i c a t i n g p l a n t , a s It Is b e l i e v e d t h a t t h e
c o n d itio n s d o n o t w a r r a n t a n a t t e m p t to r a is e a n a m o u n t o f m o n e y s u ffic ie n t
to o p e r a te s u c c e s s fu lly th e r e m a in d e r o f th e p la n t .
I t is b e l i e v e d t h a t t h e
o p e r a t i o n o f t h e f a b r i c a t i n g p la n t w i l l e n a b l e t h e c o m p a n y t o p a y i t s fix e d
c h a rg e s a n d t a x e s a n d e a rn a s u r p lu s .
S ta te m e n t o f P r e s e n t L i a b i l i t i e s a n d A s s e t s , F u r n i s h e d b g R e c e iv e r .
L i a b i l i t i e s ( A g g r e g a t in g $ 6 , 9 5 1 , 8 5 4 ) —
0%
F ir s t m o r tg a g e s in k in g fu n d g o ld c o n v e r t ib le b o n d s ,
$ 3 ,0 0 0 ,0 0 0 , a n d a c c r u e d In t e r e s t o n s a m e A p r il 2 1 19 0 9 ,
$ 4 0 , 3 8 5 --------------------------------------------------------------------------------------------- $ 8 . 0 4 0 , * 8 5
G e n e r a l c r e d ito r s , u n s e c u re d , $ 3 , 3 1 4 , 0 6 3 , a n d d is p u t e d c la im s
( e s t .) $ 4 0 0 , 0 0 0 _________________________________________________________
8 ,7 14 ,0 6 3
M e c h a n ic s ’ H en s file d , a l s o t a x e s a n d w a t e r r a t e s . . .
___
18 7 ,6 0 0
R e s e r v e fo r o u t s t a n d in g c h a r g e s a p p ly in g to c o m p le te d c o n t r a c t s
9 ,8 0 6
C a p it a l stock, is s u e d (a g g r e g a t in g $ 5 , 5 0 0 , 0 0 0 ) —
P r e f e r r e d 7% c u m u l a t i v e ---------------------------------------------------3 .0 0 0 ,0 0 0
___ . —
-------------------------------------------------------2 ,5 0 0 . 0 0 0
Com m on
A p p r o x im a t e A s s e t s a s o f A p r i l 2 1 19 0 9 ( a g g r e g a t in g $ 7 , 6 5 9 , 3 9 4 ) —
L a n d , b u i l d i n g s , p la n t a n d e q u i p m e n t a t S t a t e n I s l a n d ...... .. ._ $ 6 , 2 3 2 , 1 3 5
L a n d a t T r c in le y P o in t, X . J
- ---------- -------- ---------- ----.
14 6 ,4 4 1
[ A b o v e a r e B o o k V a lu e s f o r J u n e 1 0 1 9 0 7 a f t e r b o o k k e e p i n g a d j u s t m ’ t s . ]
E q u i p m e n t , o f f i c e f u r n i t u r e , <Scc-------------------- ------------------- . _ _ .
12 1,4 3 3
M is c e lla n e o u s s t o c k s , b o n d s a n d c a s h d e p o s i t e d a s s e c u r i t y .
12 ,3 16
D e f e r r e d c h a r g e s ( $ 1 1 , 2 1 9 ) a n d a c c r u e d I n t e r e s t ( $ 3 , 7 6 9 ) _____
1 1 ,9 8 8
2 7 8 ,3 4 3
I n v e n t o r i e s o f m a t e r i a l a n d s u p p l i e s ------------ — --------------. . . .
I n v e s t m e n t s in u n c o m p le t e d c o n t r a c t s a n d
m is c e lla n e o u s
o r d e r s In p r o c e s s --------------------------------------- --------------------- --------13 2 ,3 10
N o te s r e c e iv a b le ( $ 17 ) a n d a c c o u n ts r e c e iv a b le ( $ 2 7 8 , 1 2 9 ) ,
le s s c u r r e n t a c c o u n t s ( $ 6 8 , 6 6 5 ) ------- . . . ------------------ -----------2 0 9 ,4 8 1
B r a n c h o f f i c e b a l a n c e s ______________________ ____________ - ...............
3 ,6 13
C a s h o n h a n d a n d o n d e p o s i t . . --------------- -------- ------------------------6 0 8 ,3 3 4
M e t h o d o f R e a d ju s t m e n t o f D e b t .
a P re se n t
fir s t m o r t g a g e d e b t ( $ 3 ,0 0 0 ,0 0 0 ) t o r e m a in u n d is t u r b e d
(co m p are V . 8 2 , p . 1 2 1 5 .)
b H o ld e r s o f c l a i m s , v. n e t h e r n o t e s o r in t h e f o r m o f m e r c h a n d i s e o r
o th e r c la im s , s h a ll d e p o s it t h e s a m e w ith th e d e p o s it a r y ( th e B a n k e r s '
T r u s t C o .) a n d s h a l l o n d e p o s i t r e c e i v e a t e m p o r a r y r e c e i p t , a n d u p o n t h e
p la n b e c o m i n g o p e r a t i v e r e c e i v e a 1 0 - y c a r r e g i s t e r e d p r o m i s s o r y n o t e o f
th e c o m p a n y a s h e r e in a ft e r p r o v id e d .
S u c h p r o m is s o r y n o te w ill e n t it le th e h o ld e r , s u b je c t t o th o t e r m s a n d
c o n d i t i o n s o f t h e a g r e e m e n t h e r e in r e f e r r e d t o , t o I n t e r e s t , n o t e x c e e d i n g
5 % p e r a n n u m , if a n d w h e n e a r n e d , a n d d ire c te d to b e p a id b y th e b o a rd
o f d ir e c t o r s a n d a ls o to a n y p a y m e n t o n a c c o u n t o f th e p r in c ip a l t h a t th e
b o a r d m a y f r o m t im e t o t im e d i r e c t t o b e m a d e a n d t o t h e p r o p o r t i o n a t e
p a r t o f th e p ro c e e d s o f th e s a le o f th e c a p it a l s to c k o f th e c o m p a n y d e
li v e r e d t o t h e v o t i n g t r u s t e e s a s h e r e i n a f t e r s e t f o r t h , i f a n d w h e n t h e
s a m e s h a l l b e s o ld b y s u c h v o t i n g t r u s t e e s .
T h e c o m m itte e r e s e r v e s th e
r i g h t t o i s s u e In lie u o f n o t e s a r e g i s t e r e d b o n d w i t h s i m i l a r t e r m s a n d
c o n d itio n s , b u t s e c u re d b y a m o r tg a g e u p o n t h e p r o p e r t y , s u b je c t , h o w
e v e r , t o t h e e x i s t i n g fir s t m o r t g a g e a n d s u b j e c t t o t h e a d d i t i o n a l m o r t g a g e
h e r e in a fte r m e n tio n e d .
T h e c o m p a n y s h a ll h a v e th o r ig h t a t a n y tim e ,
u p o n 3 0 d a y s ’ n o t i c e , t o d e c l a r e t h e n o t e s o r t h e b o n d s I s s u e d In lie u t h e r e o f
I m m e d i a t e ly d u e a n d p a y a b l e .
c H o ld e r s o f th e p r e fe rre d a n d c o m m o n s to c k s h a ll d e liv e r t h e s a m e to
t h e v o t i n g t r u s t e e s h e r e in m e n t io n e d a n d r e c e i v e v o t i n g t r u s t c e r t i f i c a t e s
In lie u t h e r e o f , s h a r e f o r s h a r e , u n d e r a v o t i n g t r u s t a g r e e m e n t t o r u n f o r
fiv e y e a r s , s a i d v o t i n g t r u s t e e s t o c o n s i s t o f s e v e n m e m b e r s , t h e f ir s t t r u s t e e s
t o b e a s f o ll o w s : W il l i a m N e ls o n C r o m w e l l , A r t h u r A . F o w l e r . R o b e r t C .
L e w is , G a t e s W . M c G a r r a h , G ilb e r t G . T h o r n e , E d w a r d C . W a lla c e a n d
H a r l e y 1 ’ . W il s o n .
T h e B a n k e r s ' T r u s t C o . , N e w Y o r k , Is d e s i g n a t e d a s
d e p o s it a r y a n d a s a g e n t o f s a id t r u s t e e s .
T h e e s s e n tia l fe a tu r e s o f th e v o tin g t r u s t a g r e e m e n t s h a ll b e : ( 1) th e
s t o c k t o r e m a i n In t r u s t f o r f i v e y e a r s , u n le s s s a i d t r u s t is s o o n e r t e r m i n a t e d .
(2) t h e v o t i n g t r u s t e e s t o e x e r c i s e e v e r y p o w e r o f s t o c k h o l d e r s .
(3) t h e
v o t i n g t r u s t e e s t o h a v e p o w e r t o s e ll t h e s t o c k d e p o s i t e d f o r s u c h c o n
s i d e r a t i o n a s t h e y s h a l l s e e f i t . (4) a t a l l m e e t i n g s o f t h e v o t i n g t r u s t e e s
a m a jo r it y to c o n s t it u t e a q u o r u m .
A n y v a c a n c y a m o n g th e v o tin g
t r u s t e e s t o b e fille d b y t h o s e r e m a i n i n g .
(5) t h e v o t i n g t r u s t e e s u p o n t h e
s a le o f t h e s t o c k t o d s t r lo u t e t h e p r o c e e d s , w h e t h e r In c a s h o r s e c u r i t i e s ,
a s f o ll o w s : t o t h e p a y m e n t p r o r a t a o f t h e p r o m i s s o r y n o t e s o r b o n d s r e f e r r e d
t o In p a r a g r a p h h h e r e in ; a n d t o t h e p a y m e n t o f a n y s u r p l u s o f s u c h p r o c e e d s
p r o r a t a t o h o ld e r s o f v o t i n g t r u s t c e r t i f i c a t e s , s u c h s u r p l u s t o b e d i s t r i b u t e d
in a c c o r d a n c e w i t h t h e r i g h t s o f t h e p r e f e r r e d a n d c o m m o n s t o c k .
(6) n o
d iv id e n d s to b e d is t r ib u t e d u p o n s to c k u n til a f t e r th e p a y m e n t o f th e
d e b t s r e p r e s e n t e d b y t h e p r o m i s s o r y n o t e s o r b o n d s p r o v i d e d f o r In p a r a
grap h b .
(7) t h e v o t i n g t r u s t e e s t o r e c e i v e a r e a s o n a b l e c o m p e n s a t i o n .
F r a n c h is e s p e r p e tu a l.
N e t e a r n i n g s f o r t h e f is c a l y e a r e n d i n g D e c . 3 1
19 0 8 w e re m o re t h a n tw ic e th e In te r e s t c h a r g e s o n th e s e b o n d s .
T h i s Is s u e
o f b o n d s , c lo s e d a t $ 1 , 2 0 0 , 0 0 0 , Is s e c u r e d b y a n a b s o l u t e f i r s t m o r t g a g e o n
th e e n tir e p r o p e r t y , n o w o w n e d a n d h e r e a ft e r a c q u ir e d .
O ffic e r s : H e n r y
A d d i t i o n a l W o r k in g C a p i t a l , i f N e c e s s a r y , m a g b e R a is e d b y P l e d g e o f S e c o n d
M.
D i n g l e y , P r e s i d e n t a n d d i r e c t o r , I . e w i s t o n , M e .; H o n . VV. S . I J b b e y ,
M o rtga g e B o n d s .
T r e a s u r e r a n d d i r e c t o r , L e w i s t o n , M e .; J . F . B o o t h b y , d i r e c t o r , T r e a s u r e r
I t Is b e lie v e d t h a t t h e r e o r g a n iz e d c o m p a n y w ill b e g in b u s i n e s s w i t h s u f f i c i e n t
A n d r o s c o g g in C o u n t y S a v i n g s B a n k , L e w i s t o n , M e .; J o h n A . M o r r i ll,
q u ic k a s s e ts to o p e r a te its fa b r ic a t in g p la n t p r o f it a b ly . ’ I t m a y b e n e c e s s a r y ,
C o u n s e l, A u b u r n , M e .
h o w e v e r , to p r o v id e a d d it io n a l w o r k in g c a p it a l to a n a m o u n t o f , s a y ,
S lOO.OOO.
F o r t h i s p u r p o s e it Is p r o p o s e d t o c r e a t e a n Is s u e o f $ 2 , 0 0 0 , 0 0 0
T o R a tify S a le .
o f s e c o n d m o r tg a g e b o n d s , to b e a d ir e c t lie n u p o n th e p r o p e r t y , s u b je c t
t o , t h e e x i s t i n g f ir s t m o r t g a g e d e b t , a n d t o p l e d g e a p a r t o r a l l o f t h e s e
b o n d s a s s e c u r i t y f o r t h e $ 4 0 0 ,0 0 0 ( m o r e o r le s s ) s o t o b e r a i s e d .
I t is
p r o p o s e d t h a t t h e a d d i t i o n a l c a p i t a l s h a l l b e e v i d e n c e d In t h e f i r s t i n s t a n c e
b y s h o r t - t e r m n o t e s , w i t h t h e s e b o n d s a s c o l l a t e r a l , u n le s s t h e c o m m i t t e e Is
a b le to m a k e a fa v o r a b le s a le o f a p o rtio n o r a ll o f th e b o n d s .
T h e m o rtg ag e
s h a ll e n t i t le t h e c o m p a n y t o r e d e e m t h e b o n d s a t a n y t i m e o n 3 0 d a y s ’
T im e E x ten d e d .
n o t ic e a t p a r a n d a c c r u e d i n t e r e s t .
A ll c r e d it o r s s h a ll b e a H ord ed a n
o p p o r t u n i t y t o p a r t i c i p a t e In t h i s l o a n o r t o p u r c h a s e b o n d s .
Los Angeles Gas & Electric Co.—
— The
shareholders will vote July 14 “ upon the question whether
or not this corporation shall sell all of its business, franchises
and properties, as a whole, to the Los Angeles Gas & Elec
tric Corporation.” See V. 89, p. 47.
McCall Ferry Power Co.—
—-The reorgani
zation committee announces that over 80% of the first mort
gage bonds having been deposited, the time for deposits has
been extended to and including July 21, after which date no
deposits will be received except upon such terms as the com
mittee may prescribe. Compare V. 88, p. 1440, 1625.
Manufacturers’ Light & Heat Co., Pittsburgh.— R e d u c t i o n
i n D e b t . — The company last week paid off §100,000 Fort
Pitt Natural Gas 0% bonds and §175,000 of floating debt,
making §787,500 bonds and §415,719 floating debt re
deemed since the beginning of January, being a total of
§1,203,219, as against §1,109,680 for the entire year of 1908.
— V. 88, p. 1133, 567.
Merchants’ Heat & Light Co., Indianapolis.—•S a l e o f
B o n d s . —-The company, it is stated, has sold to Field, Longstreth & Co., Cincinnati, §1,000,000 5% 20-year bonds,
dated July 1 1909, being part of a recently authorized issue
of §2,000,000 bonds. Of the remaining bonds §500,000 are
to be used to take up an outstanding issue due Jan. 1 and
§500,000 will be reserved for future requirements. The
proceeds of the immediate issue will be applied to the cost
of extending mains and of building the new plant which is
now under construction by J. G. White & Co. of New York.
The company has §650,000 of authorized capital stock, of
which §150,000 is 6% preferred, redeemable Nov. 1 1910'at
105. Compare V. 88, p. 104.
Milliken Brothers, Incorporated.— P l a n o f R e o r g a n iz a ti o n
D a t e d J u n e 4 1909. The creditors’ committee, consisting of
Gates W. McGarrah, Chairman, Arthur A. Fowler, John
Hubbard, Gilbert G. Thorne and Edward C. Wallace, with
George E. Hargrave as Secretary, 54 Wall St., New York City,
announces that pursuant to the terms of the agreement
The plan has received the approval of 86% of stockholders
and 76% of creditors.— V. 88, jp. 1005.
Morris & Co., Chicago .— B o n d s A l l S o l d .— Announcement
is made by the First National Bank of Chicago, the First
Trust & Savings Bank of Chicago and Potter, Choate A
Prentice of New York, that the subscription books for the
§12,500,000 first mortgage sinking fund 4 l/ 2% gold bonds
were closed promptly at 3 o ’clock on Thursday, all the bonds
having been sold.
M o rris & C o . w a s In c o r p o r a te d u n d e r t h e la w s o f N e w J e r s e y o n D e c . 2 7
19 0 2 w ith $ 3 ,0 0 0 ,0 0 0 o f a u t h o r iz e d c a p it a l s t o c k (th e a m o u n t s u b s c r ib e d
b e in g $ 1 0 0 , 0 0 0 In $ 1 0 0 s h a r e s ) ,’ w h i c h o n J u l y 1 0 1 9 0 3 w a s r e d u c e d t o S lO O .
OOO, a t w h ic h f ig u r e t h e s h a r e c a p i t a l . It is s t a t e d , s t i l l s t a n d s .
S e e a ls o
V . 89, p . 48.
National Starch Co., New Y ork . — P u r c h a s e o f C o u p o n s .—
The company having made default in payment of the cou
pons maturing July 1 1909 on its §633,000 5% debentures,
and negotiations being pending between the committee of
debenture holders and the other classes of creditors of the
National Starch Co. for an amicable readjustment of its
affairs, the Corn Products Refining Co. announced on July 7
that, as the largest creditor, it had consented, at the request
of the debenture holders’ committee, to purchase the said
coupons, “ in the belief that after a thorough investigation
by bondholders and creditors a friendly settlement will be
affected without resort to expensive and wasteful legal pro
ceedings in liquidation.” 'Flic coupons are being purchased
at par through the Title Guarantee & Trust Co., New York.
C o m m i t t e e . — J. D. Higgins, Joy Morton and A. Heckscher,
at the request of the holders of a majority in amount of the
debenture bonds, have consented to serve as a committee
for said debenture bondholders in the investigation of the
108
THE CHRONICLE
affairs of the company and for other purposes in the interest
of said bondholders. Communications to the committee
may be addressed to it in care of the Title Guarantee & Trust
C o., 176 Broadway. See also advertisement on anotherpage.
B. T. Bedford, President of the Corn Products Refining
Co., is quoted as saying:
U n d e r t l i e p r o p o n e d r e o r g a n i z a t i o n p la n o f t lie N a t i o n a l S t a r c h C o .
t h e r e w i l l b e a s c a l i n g d o w n o f t h e d e b e n t u r e b o n d s a s w e l l a s t h e ( $ 6 7 0 ,0 0 0 )
m o r t g a g e b o n d s , t h e c o m p a n y o t t e r in g In e x c h a n g e t h e r e f o r a le s s e r a m o u n t
o f n e w b o n d s , w h ic h p r o b a b l y w ill b e g u a r a n t e e d b y t h e C o r n P r o d u c t s
R e f i n i n g C o . , w h ic h c o n t r o l s t h e N a t i o n a l S t a r c h C o .
T h e C o m P ro d u cts
R e f i n i n g C o . , s in c e I t c a m e In t o e x i s t e n c e , h a s b e e n a d v a n c i n g m o n e y t o t h e
N a t i o n a l S t a r c h C o . w i t h w h i c h t o m e e t I t s f i x e d c h a r g e s ; b u t h a s d e c id e d
t o m a k e n o f u r t h e r a d v a n c e s o f t h is s o r t .
U n d e r th e c ir c u m s ta n c e s a
c u t t i n g d o w n o f t h e N a t i o n a l S t a r c h s e c u r i t i e s h a s b e e n d e c id e d u p o n a s t h e
m o s t f e a s i b le m e t h o d o f m e e t i n g t h e s i t u a t i o n .
T h e lo s s o f p r o f i t s b y t h e N a t i o n a l S t a r c h C o . h a v e n o t b e e n t h r o u g h
a n y l o s s o f b u s i n e s s , w h i c h h a s I n c r e a s e d ; b u t f r o m t h e h ig h p r ic e p r e v a i l i n g
fo r c o n i.
N o h i g h e r p r ic e s a r e b e i n g o b t a i n e d f o r t h e c o m p a n y ’ s g o o d s
w h i c h a r e s o ld In p a c k a g e s t h a n w a s o b t a i n e d w h e n c o r n w a s j u s t o n e - h a l f
t h e p r i c e i t Is t o - d a y .
C o m p a re V . 8 8 , p . 13 7 0 .
Nevada-Califomia Power Co.— B o n d s O f fe r e d — S t a t u s .—
Chandler Brothers & Co., Philadelphia, have recently been
placing at par and interest a block of the company's 6%
sinking fund first mortgage gold bonds dated April l 1907
and due April l 1927, but redeemable after April 1 1912 at
105 and interest. Trustee, International Trust Co. of Den
ver. Interest payable at Morton Trust Co., New York City.
A circular reports:
[Voij.
LXXXIX.
Co., trustee under the collateral trust mortgage dated July 1(5
1906 will, by Adrian JI. Muller & Sons, auctioneers, offer
for sale, as an entirety, at public auction, on July 12, or as
soon thereafter as may be practicable, the following-de
scribed property as a whole and not in parcels:
8 ,0 4 0 s h a r e s o f t h e c a p i t a l s t o c k o f t h e N o r t h e r n W e s t c h e s t e r I . l g h t Vng
C o . o f th e p a r v a lu e o f $ 1 0 0 e a c h tu u l 1 ,5 0 0 s h a r e s o f th e c o m m o n c a p i t a l
s to c k o f th e P e e k s k ill L ig h t in g & R R . C o . o f t h e p a r v a lu e o f $ 1 0 0 e a c h ;
S e e W e s tc h e s te r L ig h tin g
C o . b e lo w ’ a n d c o m p a r e V . 8 5 , p . 1 0 3 , 2 2 1 ,
14 6 5 .— V . 8 7 , p 6 1 7 .
Oceanic Steam Navigation Co. (White Star Line.) —
annual report of this subsidiary of the Inter
national Mercantile Marine Co., it is stated, shows for the
late fiscal year:
R e p o r t . — The
A p r o f it o n t h e y e a r ’ s w o r k i n g o f £ 2 9 9 , 9 1 1 , t o w h i c h s h o u l d b e a d d e d
th e b a la n c e b r o u g h t fo r w a r d , a m o u n t in g to $ 3 1 9 , 1 4 8 , a n d in t e r e s t on
in v e s t m e n t s , £ 6 ,3 1 0 , m a k in g a t o t a l o f £ 6 2 5 ,6 9 0 .
A ft e r d e d u c t in g d e
b e n t u r e a n d g e n e r a l I n t e r e s t , d i r e c t o r s ' f e e s . I n c o m e t a x , Sec.., a n d w r i t i n g
o ff £ 4 1 0 , 8 8 2 t o d e p r e c i a t i o n o n l i c e t , w h a r v e s a n d f u r n i t u r e , t h e r o r e m a i n s
a b a l a n c e o f £ 1 1 1 , 2 0 3 . o u t o f w h ic h a d i v i d e n d o f £ 7 5 , 0 0 0 , b e i n g a t t h e
r a t e o f 1 0 % p e r a n n u m , w a s d e c la r e d o n M a r c h 1 9 , le a v in g £ 3 6 ,2 0 3 a t t h e
c r e d i t o f p r o f it a n d lo s s a c c o u n t t o b e c a r r i e d f o r w a r d .
C o m [> a re V . 8 7 ,
p. 1091.
.
Rome (N. Y.) Home Telephone Co.— S a l e J u l y 14.— This
property is advertised to be sold at auction by referee
Arthur A. Costello at Rome on July 14 pursuant to a
judgment of foreclosure entered May 24 1909 under order
of the Special Term of the Supreme Court for the 5th Judicia 1
District in the suit brought by the Cleveland Trust Co. as
trustee. (See Rochester Syracuse & Utica Telephone Co.
F in a n c ia l S ta te m e n t.
in V. 86, p. 1534.)
F i r s t m o r t g a g e 6 % b o n d s ( a u t h o r i z e d $ 3 , 0 0 0 , 0 0 0 ) , I s s u e d -------- . $ 2 , 7 0 0 , 0 0 0
Reserved t o be Issued at rate of 80 of actual cost of
Southern Iron & Steel Co.— S a l e o f B o n d s . — The company
permanent Improvements and betterments.........- $300,000
has sold to Ladenburg, Thalmann & Co. and Kean, Van
C a p i t a l s t o c k ( a u t h o r i z e d $5,000,000), Issued--------------------------< 4,500,000
Cortlandt & Co. and their associates $1,000,000 “ first and
E a r n i n t js f o r Y e a r e n d in g M a r c h 31 1909.
refunding” mortgage 20-year gold bonds. It is stated
G r o s s e a r n i n g s -----------------------$ 7 3 9 , 2 6 8 I n t . o n 1 s t m t g e . b o n d s _____ $ 1 4 6 , 5 0 6
T
a
x
e
s
__________________________
1
3
,
5
0
0
Opcr. expenses____ $95,693
that about half of the bonds have been placed in New York
R e s e r v e f u n d s ----------------------- * 2 2 , 2 5 0
Maintenance charge £.'19,000
and the remainder with leading institutions in London, Paris,
G e n . e x p e n s e s ______5 6 , 6 1 6
------------ 1 9 1 , 3 0 8
Berlin and Vienna.— V. 88, p. 751, 1376.
$ 18 2 ,2 5 6
Tacoma (Wash.) Gas Light Co.— C h a n g e i n C o n t r o l .-—
N o t e a r n i n g s _______________$ 5 4 7 , 9 6 0
---------------N e t b a l a n c e ____________________ ____________ _________________ ____________ $ 3 6 5 , 7 0 3
II. M. Byllesby & Co. of Chicago have acquired control of
D e d u c t . , a d j u s t m e n t s a n d d e l i n q u e n t a c c o u n t s d u r i n g y e a r 19 0 8
3 7 ,10 0
this property, and C. E. Groesbeck of San Diego has been
elected a Vice-President of H. M. Byllesby & Co., with
N e t s u r p l u s f o r t h e y e a r ----------------------- ----------,--------------- --- , . $ 3 2 8 , 6 0 3
x F o r fir e l o s s e s , $ 6 ,0 0 0 ; f o r d a m a g e s a n d p e r s o n a l i n j u r i e s , $ 6 , 0 0 0 ;
headquarters at Tacoma, in charge of their interests on the
b e t t e r m e n t s a n d d e p r e c ia t io n . $ 7 ,5 0 0 : in t e r e s t o n m e te r d e p o s its , $ 2 ,7 5 0 .
Pacific Coast and in the States of Idaho and Montana.
T h e m ills o f t h e C o n s o l i d a t e d M in in g C o . , p u t In o p e r a t i o n In J a n u
a r y . a n d t h e F l o r e n c e M in in g C o . , t o b e p u t in o p e r a t o n s h o r t l y ,
Compare V. 88, p. 1066; V. 84, p. 343; V. 82, p. 1501.
w i t h a c o m b in e d I n v e s t m e n t o f o v e r $ 1 , 6 0 0 , 0 0 0 , a n d c o n n e c t e d
Tidewater Steel Co., Chester, Pa.— R e c e iv e r ’ s S a l e . —'Re
t o t h e s y s t e m u n d e r lo n g - t e r m c o n t r a c t s , w ill a d d a n e s t i m a t e d
n e t In c o m e p e r a n n u m o f a p p r o x i m a t e l y
-------------- - - ----------11 0 ,0 0 0
ceiver Howard H. Houston, it is announced, will sell the
B v J u n e 19 0 9 e x t e n s i o n s n o w u n d e r w a y w i l l h a v e b e e n m a d e
plant at public sale Aug. 3.—'V. 86, p. 797.
i n t o t h e t o w n s a n d m in i n g d i s t r i c t s o f M a n h a t t a n a n d R o u n d
M o u n ta in , a n d w ill a d d r e v e n u e o f a p o p r x im a t e ly p e r a n n u m ,.
8 0 , 0 00
Tiffin (O.) Home Telephone Co.— R e c e i v e r ’ s S a l u — Re
S h o w i n g a n e s t i m a t e d n e t s u r p l u s f o r t h e f o ll o w i n g y e a r o f -------$ 5 1 8 , 6 0 3
ceiver John C. Royer advertises for saleat auction in Tiffin
* i t w i l l b e n o t e d t h a t In a d d i t i o n t o t h e $ 3 9 , 0 0 0 “ c h a r g e fo r m a i n t c on July 17 the company’s telephone plant consisting of a
n a n c e , ” t h e r e Is u n d e r “ R e s e r v e f u n d s ” a c h a r g e f o r
b e tte rm e n ts a n d
magneto telephone plant, having about 1,000 subscribers
d e ^ o re t h e ° c a le n d a r y e a r 19 0 7 th e g r o s s e a r n in g s w e r e $ 5 9 3 ,1 8 7 ; o p e r a tin g
and a 1,200 line multiple lamp line switchboard. Appraised
e x p e n s e s , $ 2 3 3 ,0 4 6 ; n e t e a r n in g s , $ 3 6 0 , 1 4 0 ; fix e d c h a r g e s , $ 9 1 ,6 0 4 ; n e t
value $49,607.
s u r p lu s , $ | ® y iig g ® ’ & C o
I n c . e s t i m a t e t h a t f o r t h e c a le n d a r y e a r 19 0 9
Westchester Lighting Co., New York.— A c q u i s i t i o n .—
t h e c o m p a n y w i l l s h o w n e t s u r p l u s o v e r a l l e x p e n s e s , I n c lu d in g d e p r e c i a
t io n c h a r g e s a n d I n s u r a n c e r e s e r v e s , In e x c e s s o f $ 5 0 6 , 0 0 0 .
T h is e s tim a te
The Public Service Commission has authorized this com
Is b a s e d o n l y u p o n p r e s e n t l o n g - t e r m c o n t r a c t s a n d c u r r e n t s a l e s , u s i n g
pany, controlled by the Consolidated Gas Co. of New York,
a lt o g e th e r b u t 7 7 0 0 h . p . o u t o f a 2 1 ,0 0 0 h . p . d e v e lo p m e n t.
O f t h is
21 0 0 0 h p , 1 5 5 0 0 h a s b e e n a v a i l a b l e s in c e M a r c h 1 19 0 9 a n d t h e f u l l
to purchase the entire $804,000 capital stock of the Northern
21 0 0 0 h . p . w i l l b e a v a i l a b l e d u r i n g t h e f a l l o f 1 9 0 9 , f r o m f u n d s a l r e a d y
Westchester Lighting Co. and all the $500,000 common
p r o v id e d a n d e x p e n d itu r e s a u th o r iz e d .
S i n k i n g F u n d .— -B e g in n in g O c t. 1 19 0 9 , 2 0 % o f th e n e t e a r n in g s , a f t e r
stock of the Peekskill Lighting & R R. Co. of Peekskill, N. Y.,
fixed c h a r g e s , m u s t b e s e t a s i d e f o r t h e p u r c h a s e o f t h e b o n d s . N o d i v i
for $505,000, and $75,000 of its 6% cumulative preferred
d e n d s In e x c e s s o f 6 % o n t h e c a p i t a l s t o c k s h a l l b e p a i d u n le s s s u c h d i v i
d e n d s a r c d iv id e d w ith th e s in k in g fu n d a n d u se d to re tire th e o u t s t a n d in g
stock at $75,000; also $90,000 of the first consolidated mort
bo n ds.
O n t h e b a s i s o f p r e s e n t c o n t r a c t s a l o n e t h e s i n k i n g f u n d w ill r e
gage bonds of the Northern Westchester Lighting Co. at
ceive o v e r $ 1 4 0 , 0 0 0 p e r y e a r .
,
O r m n iz a t io n . — O r g a n iz e d u n d e r t h e l a w s o f W y o m i n g f o r t h e p u r p o s e o f $81,000.
The Westchester Lighting Co. is authorized to
d e v e l o p i n g a n d d i s t r i b u t i n g e l e c t r i c p o w e r in s o u t h w e s t e r n N e v a d a a n d t o
issue $580,000 10-year 5% first collateral trust bonds, the
t h e m ills a n d m in e s l o c a t e d in a n d a b o u t G o ld f i e l d , T o n o p a h , R y h o l i t c ,
proceeds to be used for acquiring stocks authorized to be
H e a t t v S i l v e r P e a k a n d M i l l e r s , In N e v a d a , a n d B i s h o p , C a l i f o r n i a , w h ic h
c i t i e s a n d t o w n s t h e c o m p a n y Is n o w f u l l y s e r v i n g .
L i n e s a r e n o w b e in g
transferred to it by the Northern Westchester Lighting Co.
e x te n d e d
u n d e r lo n g - t e r m c o n t r a c t s , t o t h e t o w n s o f M a n h a t t a n a n d
and the Peekskill Lighting & RR. Co. Compare Northern
R o u n d M o u n ta in , N e v a d a .
T h e c o m p a n y w a s o r g a n iz e d a b o u t fo u r y e a r s
n a p t o t r a n s m i t a b o u t 1 , 0 0 0 h . p . t o G o ld f i e l d .
T h e d e m a n d s o f th e d is
Westchester Securities Co. above.—-V. 87, p. 617.
t r i c t k e p t c o n t i n u a l l y I n c r e a s in g , a n d t h e c o m p a n y 's p la n t s w e r e a d d e d
t o u n t i l a t t h e p r e s e n t t i m e t h e r e Is b e i n g g e n e r a t e d a p p r o x i m a t e l y 1 5 , 5 0 0
h n
7 7 0 0 o f w h i c h Is b e i n g d e l i v e r e d o r u n d e r c o n t r a c t .
1he co m p an y
h a s t h r e e f u l l y - c o m p l e t e d p la n t s a n d a n I n s t a ll e d c a p a c i t y o f n e a r l y d o u b le
it s p re se n t n e ed s.
T h i s Is s u e o f b o n d s is s e c u r e d b y a f i r s t m o r t g a g e u p o n
t h e e n t i r e p r o p e r t y , c o n s i s t i n g o f h y d r o - e l e c t r i c p l a n t s l o c a t e d o n B is h o p
C re e k C a lif o r n ia , n e a r th e to w n o f B is h o p , I n y o C o u n t y ; th e r e s e r v o ir s ,
w a t e r ’ r i g h t s , t r a n s m i s s i o n l in e s , d i s t r i b u t i n g s t a t i o n s , l i g h t i n g p la n t s In
th e s e v e r a l c it ie s , r ig h t s o f w a y , fr a n c h is e s , & c ., n o w o w n e d o r h e r e a fte r
a c a u lre d
T h e e n g in e e r ’s r e p o r t s h o w s a n e q u it y o v e r a n d a b o v e th e b o n d
Is s u e o f a p p r o x i m a t e l y $ 7 5 0 , 0 0 0 .
D i v i d e n d s a r e b e in g p a i d u p o n t h e s t o c k
a t th e ra te 1 o f * 4 % p e r a n n u m ( V . 8 8 , p . 1 3 1 6 ) .
T h e c o m p a n v is e a r n in g
o v e r 1 0 ° ' , u p o n It s s t o c k , w h i c h Is In d e m a n d a t o v e r $ 6 0 p e r s h a r e .
M a n a g e m e n t .— T h e P r e s i d e n t a n d a c t i v e m a n a g e r is D e lo s A . C h a p p e llI n t e r e s t e d In m a n y o f t h e fo r e m o s t e n t e r p r i s e s in C o l o r a d o , a n d t h e c o m ,
n a n v Is o w n e d a n d c o n t r o l le d b y m a n y o f t h e m o s t s u b s t a n t i a l m e n in
C o lo r a d o .
T h e d ir e c t o r s in c lu d e R o d n e y C u r t is , o n e o f th e o w n e rs o f th e
D e n v e r C i t v T r a m w a y s y s t e m ; T h o m a s S . H a y d e n , V ic c - I i c s i d e n t o f D e n
v e r^ U n io n W a t e r C o T L a w r e n c e C . P h ip p s fo r m e r ly o f P it t s b u r g h , n o w r e
s i d i n g In D e n v e r ; F r a n k J . C a m p b e l l a n d G u i l f o r d S . W o o d , o w n e r s o f t h e
f a m o u s V i n d i c a t o r M in e o f C r i p p l e C r e e k , a n d W . E . P o r t e r , o f D e n v e r .
T h e 3 2 5 m ile s o f t r a n s m i s s i o n lin e s c o v e r a w id e m in i n g r e g io n o f s o u t h e r n
N e v a d a , w h i c h Is c a p a b l e o f g r e a t e x p a n s i o n , b e c a u s e o f p o w e r f a c i l i t i e s
now a H o r d e d , a n d t h e h ig h c o s t o f f u e l , t h e g e n e r a l a b s e n c e o f w a t e r a n d
t h e f a c t t h a t t h e r e m o t e s t p o i n t n o w s e r v e d is n o t In e x c e s s o f 1 2 o m ile s
fro m th e p o in t o f g e n e r a t io n .
In th e e v e n t o f th e d e m a n d o f th e m a rk e t
In t h e m in i n g r e g io n n o w s e r v e d b e i n g d i m i n i s h e d in t h e r e m o t e f u t r e ,
th e c o m p a n y c a n . b y a n e x te n s io n o f a b o u t 8 0 m ile s , r e a c h S a n F r a n
c i s c o , O a k l a n d . S a n J o s e , F r e s n o , e t c . — V . 8 8 , p . u i o . t>8«.
Newhouse Mines & Smelters.— P l a n O p e r a t i v e .— More
than 90% o f ‘ the bonds and a large majority of the stock
having been deposited under the plan and agreement of
reorganization dated June 1 1909, the same have been
declared to be operative. Further deposits of bonds and
stock, it is announced, will be accepted only on such terms
tis the committee may impose. See plan V. 88, p. 1441.
Northern Westchester Securities Co.— S a l e o f C o lla te r a l .—
Default having been made in the payment of interest on
some of the 5% 30-year collateral trust gold mortgage bonds
which became due on March 1 1908, and like default having
been made in payment of interest on all of the said bonds
which became due Sept. 1 1908, the Knickerbocker Trust
— A 6% investment is advertised on another page by Pea
body, Houghteling & Co., Chicago, being the first mortgage
6% bonds of the Minnesota & Ontario Power Co. I he bonds
arc secured by a large water power, electrical equipment
and pulp and paper mills now in course of construction,
and valued at $8,000,000. They are guaranteed by endorse
ment by the Backus-Brooks Company of Minneapolis, a
large lumber concern. The property was described at length
in the “ Chronicle” , issue of Nov. 14, page 1303.
— Mr. Hugh M. Wilson, formerly editor and publisher of
“ The Railway Age,” will, on Aug. let, become associated
with The Barney & Smith Car Co., Dayton, Ohio, of which
he has been elected a director and a vice-president. Mr.
Wilson disposed of his publishing business over a year ago
and has only recently returned to the United States after
nearly a year spent in foreign travel.
— Coggeshall & Hicks, bankers and brokers, 115 Broad
way, New York, offer to buy and sell Atchison Topeka &
Santa Fe “ rights.” Telephone, 8013 Cortlandt for the firm’s
quotations. For full description of the A. T. & S. F. Ry.
new convertible 4% bonds to which stockholders are per
mitted to subscribe, see page 1435 of the “ Chronicle,”
June 5 1909.
— William Salomon & Co., New York and Chicago, have
prepared a pamphlet describing a number of securities which
are desirable investments. The pamphlet includes active
railroad bonds listed on the New York Stock Exchange, also
high-grade municipal and corporation issues. Copies will be
sent on request.
— Central Railroad of Haiti first mortgage 6s, due 1919,
are offered at a price to net over 7 % by Chisholm <b Chap
man, 18 Wall Street.
.I uj . v 10 ISO#.)
T H E
1 0 9
C H R O N IC L E
© o ra m jex x ia l ■ praes.
COTTON.
L he
Friday Night, July 9 1 9 0 t .
T H E M O V E M E N T O F T H E C R O P a s in d ic a te d b y o u r
t e l e g r a m s f r o m t h e S o u t h t o - n i g h t is g i v e n b e l o w .
F o r th e
w e e k e n d in g th is e v e n in g th e t o t a l r e c e ip ts h a v e r e a c h e d
1 9 ,1 7 1 b a le s , a g a in s t 2 7 ,5 0 3 b a le s la s t w e e k a n d 3 4 ,4 2 0
b a l e s t h e p r e v i o u s w e e k , m a k i n g t h e t o t a l r e c e i p t s s in c e
th e 1 st o f S e p te m b e r 1 9 0 8 9 ,7 2 1 ,7 0 4 b a le s , a g a in s t 8 ,1 4 5 ,
3 0 8 b a l e s f o r t h e s a m e p e r i o d o f 1 9 0 7 - 0 8 , s h o w i n g a n in c r e a s e
s p e c u l a t i o n in w h e a t a n d c o t t o n is a f e a t u r e o f t h e s i t u a t i o n .
s i n c e S e p t . 1 1 9 0 8 o f 1 , 5 7 6 , 3 9 6 b a l e s .________________________________ _
C O M M E R C IA L
E P I T O M E .
New York, Friday Night, July
9 1909.
T r a d e a c t i v i t y a till c o n t i n u e s , w i t h ir o n a n d s t e e l a t t r a c t
in g
th e m o s t a tte n tio n .
The
i m p r o v e m e n t is n o t p e r h a p s
g e n e r a l l y a s r a p i d a s c o u l d b e d e s i r e d , b u t it is s t e a d y .
LARD
advanced
sh a r p ly
e a r ly
in
th e
w eek,
but
su b se-
q u c n t ly p a r t o f th e a d v a n c e w a s lo s t b e c a u s e o f h e a v y h o g
R e c e ip t s a t —
p rim e C ity s te a m l l % c .
R e fin e d , C o n tin e n t 1 2 .3 5 c ., S o u t h
A m e r ic a
in
B ru n sw ick _____
re c e ip ts ,
due
to
t h o u g h t ’ u n lik e ly
it
a c c u m u la tio n
th a t
th e
over
th e
h o lid a y s .
m ovem ent
w ill
c o n tin u e
b e in g q u ite g e n e r a lly a g r e e d
c o u n t r y . P r im e W e s te r n
1 3 .2 5 c .,
th a t h o gs are
\2.20c., M i d d l e
B r a z il,
kegs,
It
is
heavy,
s c a r c e in
th e
W e s t 1 .1 .9 o (5) 1 2 .O o c .,
1 4 .2 5 c .
D A IL Y CLOSING P R IC E S OF L A R D F U T U R E S IN CHICAGO.
S a t.
July delivery-------- --------September delivery-------O clob cr delivery..............
Hollday.
M on.
T u es.
W ed .
ll.8 2 H lt .7 5
ITolt- 11.82 H 11.75
day. 11.75
11.05
T h u rs.
F r i.
11.72 'A 11.77H
11.72 H 11.80
f l 1.62 H I 11.67H
111 .05 j
P O R K h a s b een q u ie t a n d s t e a d y .
M ess $ 2 1 @ $ 2 I 5 0 ,
c le a r $ 2 0 5 0 @ $ 2 3 , f a m i l y $ 2 1 @ $ 2 2 .
B e e f h a s b e e n fir m
w it h a f a ir i n q u i r y .
M ess $ l l @ $ l l 5 0 , p a c k e t $ 1 1 5 0 @
$ 1 2 5 0 , fa m ily $ 1 3 5 0 @ $ 1 4 5 0 , e x tr a In d ia m ess $ 2 0 5 0 @
$21.
C u t m e a t s h a v e b e e n i n a c t i v e , o w i n g t o t h e h i g h c la i m s
o f s e lle r s ; p i c k le d h a m s , r e g u l a r , 1 2 t o 2 0 l b s . , 1 2 ^ @ 1 3 c . ;
p ic k le d b e l l i e s , c le a r , 8 t o 1 2 l b s . , 1 2 J ^ @ 1 3 c .
T a llo w s te a d y
a n d q u ie t; c ity 5 9 - 1 6 c .
S t e a r i n e s fir m a n d n o m i n a l ; o le o
1 3 c . , la r d 1 3 J ^ c .
B u t t e r h ig h e r , w ith g o o d sa le s; c re a m e r y
e x tra s 2 6 c .
C h e e s e q u i e t a t d e c li n e ; S t a t e , f . c . , la r g e o r
s m a ll, c o lo r e d o r w h it e , f a n c y , 1 3 c .
E g g s fa ir ly a c t iv e ;
W e s t e r n f ir s t s 2 1 J ^ @ 2 2 ^ c .
O I L .— L in s e e d h a s b e e n s t e a d y , w ith a fa ir c o n s u m in g d e
m a n d b u t lit t le n e w b u s in e s s .
P r ice s s h o w n o e ffe c t o f
t h e b r e a k in f l a x s e e d , t h e s e e d s u p p l y b e i n g s t r o n g l y c o n
tr o lle d ; c i t y , r a w , A m e r ic a n s e e d , 6 1 @ 6 2 e . ; b o ile d 6 2 @ 6 3 c . ;
C a lc u tta , ra w , 7 5 c .
C o tto n se e d
fa ir ly a c t iv e a n d e a sie r;
w in te r
5 .7 5 @ 6 .2 0 o .,
su m m er
w h ite
5 .8 6 @ 6 .1 8 c .
O liv e
ea sy a t $1 1 5 @ $ 1 2 5 .
L a r d f i r m , w i t h s lo w d e m a n d ; p r i m e
8 9 @ 9 2 c .; N o . I e x tra 5 7 @ 5 8 c .
C o c o a n u t q u ie t a n d g e n e r
a l l y f i r m , w i t h s o a p m a k e r s s h o w i n g m o r e in t e r e s t in C o c h i n
a t 7%@Sc., C e y lo n 7% © 7}4c.,
P a lm L a g o s 5 % @ 5 % c .
P e a n u t , y e llo w , 6 5 @ 7 0 c .
C o d q u ie t a n d s t e a d y ; d o m e s tic
3 8 c .,
N e w fo u n d la n d 4 0 c .
C O F F E E o n th e s p o t h a s b e e n s lo w , o w in g to t h e p o o r
s e l e c t i o n s , w i t h R i o a l i t t le l o w e r ; N o . 7 7 M @ 7 ^ c .
S a n to s
a t r ifle h i g h e r ; N o . 4 9 @ 9 } ^ c .
T h e r e h a s b e e n lit t le d o in g
in m ild g r a d e s a n d p ric e s s h o w n o c h a n g e ; f a ir to g o o d
C u cu ta
T h e s p e c u l a t i v e m a r k e t w a s f a i r ly
a c t i v e ,w i t h n e a r -b y m o n th s a d v a n c in g o n g o o d s u p p o r t b y
le a d in g tra d e in te r e s ts .
T h e c lo s i n g p r ic e s w e r e a s f o l l o w s :
July - ........... 7 .0 5 0 7 .1 0
August ____6 .1 0 0 6 .1 5
Septem ber __5.80@ 5.85
O ctob er____ 5.50 @ 5 .5 5
N ovem ber ._ 5 .4 5 ® 5 .5 0
December . . 5 .4 5 @ 5 .5 0
J a n u a r y ____5.45 @ 5 .5 0
F e b r u a r y ___5 .5 0 @ 5 .5 5
M a rch ______ 5 .5 0 ® 5.55
A p ril_______ 5 .5 5 ® 5.60
May _______ 5 .5 5 @ 5 .6 0
J u n e _______ 5.6 0 @ 5 ,6 5
S U G A R . — R a w p r ic e s s h o w n o c h a n g e , b u t t h e f e e li n g is
f ir m e r b e c a u s e o f g o o d b u y i n g .
C e n t r ifu g a l, 9 6 -d e g r e e s
t e s t , 3 .9 2 c .; m u s c o v a d o , 8 9 -d e g r e e s t e s t , 3 .4 2 c .; m o la s s e s ,
8 9 -d e g r e e s t e s t , 3 .1 7 c .
R e fin e d h a s b e e n s t e a d y b u t in
a c t i v e , b u y e r s n o t s h o w i n g t h e in t e r e s t e x p e c t e d in v i e w o f
t h e in c r e a s e d c o n s u m p t i o n ; g r a n u l a t e d 4 . 7 5 c .
S p ic e s h a v e
b e e n s t e a d y b u t q u ie t , w it h a g o o d d e m a n d r e p o r te d fo r
w h ite p e p p e r .
T e a s h a v e b e e n m o d e r a te ly a c t iv e , w ith th e
c o u n t r y b u y i n g f a i r l y w e ll in s m a l l l o t s .
P r ic e s s h o w n o
change.
W o o l fir m a n d q u i e t , b u t w i t h s o m e i m p r o v e m e n t
in t h e d e m a n d f o r c e r t a i n d e s c r i p t i o n s , n o t a b l y T e x a s a n d
716
2,872
2,457
34
452
7,781
*633
1*281
2*198
*818
*349
*903
6,272
*25
7
" *85
1*49
** 4
*747
1,017
374
18
302
—
*316
*211
—
**50
50
1
269
—
* * ii
627
* *2
2
—
....
**20
*172
NewportNews,&c
New Y o rk ______
2,217
2,360
*13
‘ *18
1,479
” *3
247
274
**83
50
17
1,472
274
*23
126
____
"n s
...........
212
189
192
212
304
5,899
4,520
846
3,329
19.171
41
* "’ i
Baltimore _____
Philadelphia____
Totals this w eek.
T o ta l.
F r i.
1,250
276
G e o rg e to w n ____
W ilm in g to n ____
T h u rs.
W ed.
T u es.
M on.
S a t.
G a lve sto n ______
P ort A rth u r___
Corp. Christ!, &c
New Orleans____
G u lfp o r t_______
Mobile _________
P en sa cola ______
Jacksonville, &c.
T h e f o l l o w i n g s h o w s t h e w e e k 's t o t a l r e c e i p t s , t h e t o t a l
s in c e S e p t . 1 1 9 0 8 , a n d t h e s t o c k s t o - n i g h t , c o m p a r e d w i t h
l a s t y e a r :________________________________________________________________ ________ _
T h is
W eek .
S tock .
1907-0.8
1908-09.
R e c e ip t s to
J u l y 9.
S in ce S ep
1 1908.
S in ce S ep
T h is
W eek .
1 1907.
14,955 2,465,052
108,500
37,825
7*.900 1,970,982
P h ila d elp h ia ------
7,781 3,583,237
152,759
152,203
6*272 2,070,096
20,221
1,017 377,452
155,149
29,748
18
1,479 1,490,295
319,847
209,692
*83
2,634
50
17 409,104
587,866
1,472
17.709
274
19,101
18,641
192
99,591
212
6,359
304
327,003
166,838
8,434
1,504,014
197,903
200,830
722
499,874
541,870
8.073
4,105
14.944
78,600
9,649
T o ta l__________
19,171 9,721,704
33,723 8,145,308
Corpus Chrlstl.&c
New O rle a n s____
P e n s a c o la ---------Jacksonville, & c.
Brunswick ...........
C harleston---------W ilm ington
------
Newport News,&c
1,253
3,251
*460
1,737
2,091
798
7
527
678
66
1909.
17,919
1908.
45,114
_____
—
81,837
5 » ,280
*8,782
7,303
23,942
371
3,753
2*7*205
102
8,697
6,165
10,205
160,542
3,777
6,343
2,563
7*.752
6,244
6,177
1,600
318,628
244,148
7.103
In o r d e r t h a t c o m p a r is o n m a y b e m a d e w ith o th e r y e a r s ,
w e g iv e b e lo w t h e t o t a ls a t le a d in g p o r ts fo r s ix s e a s o n s :
1908.
1909.
R e c e ip t s a t —
1906.
1907.
*6*272
1,017
1.479
* *7*.900
1,253
3,251
*4*573
112
2,262
N ’port N ., &c
All others.......
*‘ *133
17
1.472
274
726
"*4 6 0
1,737
2,091
798
1,278
*‘ *488
42
1,526
283
746
4,157
37
5,216
1,011
4,791
13
678
2,921
2,373
29
1,436
T otal this w k .
19,171
33,723
13,787
27,440
14,955
7,781
G a lv e s to n ___
Pt.Artluir.& c.
New Orleans.
Mobile
Savannah , .
Brunswick —
Charleston, &c
W ilm in g to n ..
3,755
1905.
19,799
818
11,700
2,571
22,447
809
2,516
6,441
13,748
155
594
81,598
1904.
166
5,921
581
1,433
17
75
748
215
747
0,903
Slncc Sept. 1 . 9,721,704 8,145,308 9,626,645 7,630,752 9,573,639 7,074,373
T h e e x p o r ts fo r th e w e e k e n d in g th is e v e n in g re a c h a to ta l
o f 4 0 ,0 6 4 b a le s , o f w h ic h 2 4 ,0 5 9 w e re t o G r e a t B r it a in ,
1 2 ,8 6 7 to F r a n c e a n d 3 ,1 3 8 t o th e r e s t o f t h e C o n t in e n t .
B e l o w a r e t h e e x p o r t s f o r t h e w e e k a n d s in c e S e p t . 1 1 9 0 8 :
C a lifo r n ia .
P E T R O L E U M . — D e m a n d is a s u s u a l f o r t h i s s e a s o n , g a s e n g i n e o i ls le a d i n g in a c t i v i t y ; r e f i n e d , b a r r e l s , 8 . 4 0 c . ;
b u lk 4 .9 0 c .; ca se s 1 0 .8 0 c .
G a s o l i n e , 8 0 - d e g r e e s t e s t , in
1 0 0 -g a llo n d r u m s , 1 8 % c .; d r u m s $7 50 e x t r a .
N a p h th a ,
7 3 t o 7 6 - d e g r e e s t e s t , in 1 0 0 - g a l l o n d r u m s , 1 6 % e . ; d r u m s
$7 50 e x tr a .
T u r p e n t i n e c o n s u m e r s h a v e b e e n b u y i n g w e ll
a t th e a d v a n c e to 4 8 J ^ c .
R o s i n a ls o a d v a n c e d b u t w a s
le s s a c t i v e ; c o m m o n t o g o o d s t r a i n e d $ 3 1 5 .
T O B A C C O . — T h e q u i e t u d e u s u a l l y c h a r a c t e r i s t i c o f J u ly
r e m a in s a b o u t th e o n ly fe a tu r e o f th e m a r k e t .
L ittle b u s i
n e s s h a s b e e n im p o r te d b e c a u s e o f t h e i n a c t i v i t y o f m a n u
fa c tu re rs.
T h e S u m a t r a m a r k e t h a s li k e w i s e b e e n w i t h o u t
im p o r t a n t tr a n s a c tio n s , a lth o u g h th e d e m a n d c o n tin u e s
good
at
h ig h
p r ic e s.
C O P P E R . — -D u ll a n d e a s i e r , w i t h m o r e p r e s s u r e t o s e l l ,
e s p e c i a l l y e l e c t r o l y t i c , w h ic h r e a c h e d t h e l o w e s t p r ic e s r e
c o r d e d h ere a n d a b r o a d .
L a k e , 1 3 3 4 @ 1 3 ><j c .; e l e c t r o l y t i c
1 2 . 7 5 @ 1 3 c . ; c a s t i n g 12%@12%c.
b e a d d u ll a n d lo w e r ;
s p o t car lo ts 4 . 3 5 @ 4 .4 0 c .
S p e lt e r d u l l a n d e a s i e r ; s p o t c a r
lo ts 5 . 3 5 @ 5 .4 0 c .
Ir o n h a s a d v a n c e d w ith s m a lle r m e lt in g
c o n c e r n s s h o w in g m o re d is p o s ito in to b u y , fo llo w in g th e
r e c e n t h e a v y b u y i n g b y la r g e r i n t e r e s t s ; N o . 1 N o r t h e r n
$ 1 6 7 5 @ $ 1 7 2 5 , N o . 2 S o u th e rn $ 1 6 2 5 @ $ 1 6 5 9 .
T h e s t e e l m a r k e t is s t i ll s t r o n g , w i t h a b r o a d a n d a c t i v e d e
m and.
O n e o f t h e t r a d e f e a t u r e s is t h e d e c is i o n t o a d d 1 0 0
m i l l s , t h e la r g e s t o f t h e i r k i n d , t o t h e S t e e l C o r p o r a t i o n
p la n t a t G a r y , I n d .
T r a c k e q u i p m e n t d e m a n d is b e t e r
a n d la r g e o r d e r s a r e p e n d i n g E a s t a n d W e s t .
W eek ending J u ly 9
E xp orted to —
E xp orts
from —
Great I
C onllBrUaln. F r 'n c e nent.
Galveston___
Port Arthur-..
Corp.Chrls.,&c.
Now Orleans..
Mobile ............
Pensacola___
G u lfp ort____
Savannah ___
Brunswick___
Charleston___
Wilmington__
Norfolk - ........
Newport News
New York----Boston ........
Baltimore —
Philadelphia .
Portland, Me
gan Francisco.
S e a ttle __
T acom a-----Portland, Ore.
Pem bina........
D etroit..........
T o ta l..........
F rom S ept.
Total.
Great
B ritain . \France
C on ti
nent.
9 1009.
Total.
9,776 1,479,558421,188 1,213,621 3,114,267
86,502 152,759
66,257
27,748
27,748
V,7S5 21*303 921 538 254,151 721,339 1,897,028
79,737 286,764
93,078 113,949
52,877 158,953
43,020 03,056
20,221
4,132 16,089
167,073 91,227 657,130 915,430
89,370 282,974
193,604
82,969
77,244
5,725
112,854 8,731 281,624 403,209
*6.123
3,129
32,994
288
9,488
9,850 9,703
1,100
3,840
831
8,104
831
155*967 48,751
93,716
51,593 7,529
56,719
796
4,374
24,05912,867
Total 1907-08. 11,367'
1 1908 to J u ly
E xp orted to —
1909.
396,525
104,993
122,594
69,408
796
82,298
82*298
68,246
68,246
10,756
10,750
300
300
100
100
4,374
191,867
11,277
63,472
12,689
3,138 40,064 3,492,938^1024,6713.731,226 8.2*8.835
297 15,025 26,689j2,881.440’853,2993,506.94O17,241,679
I n a d d i t i o n t o a b o v e e x p o r t s , o u r t e l e g r a m s t o -n ig h b a l s o
r iv e u s t h e f o l l o w i n g a m o u n t s o f c o t t o n o n s h i p b o a r d , n o t
ile a r e d , a t th e p o r ts n a m e d .
W e a d d s i m i l a r fig u r e s f o r
N ew
Y ork.
n o
T H E
O n S h ip b o a r d , N o t C le a r e d [ o r —
J u ly
G rea t
B r it a in . F r a n c e
9 a t—
1,746
New Orleans. _
G a lv e s to n ____
4,902
Savannah ____ ' ____
____
C harleston..
700
M o b ile _____ __
____
N o r fo lk ---------1,200
New Y o r k -----600
Other p orts___
T otal 1 9 0 9 ..
T otal 190 8 ..
T otal I907_.
S p e c u la t io n
at
v is in g
p r ic e s.
a p p a r e n tly
been
O th er
F o r e ig n
1,672
2,516
____
____
4,500
____
300
—
3,226
2,954
___
2,600
____
800
400
1,000
—
8,988
5,169
2,345
9,980
21,570
4,613
8,682
5,036
8,208
9,146
9,379
5,283
in
G er m any.
co tto n
fo r
R e a c tio n s
s e iz e d
upon
C o a s tw is e .
7,557
125
T o ta l.
157
350
14,358
10,847
7,804
7,800
7,804
3,300
1,000
—
8,311
16,339
15,225
[VOL. L X X X IX .
C H R O N IC L E
L e a v in g
S to ck .
45,109
57,493
35,674
F U T U R E S . — T h e h ig h e s t , lo w e s t a n d c lo s in g
N e w Y o r k th e p a s t w eek h a v e b een a s fo llo w s :
@|
lO
O
CM |
273,519
©|
rH
O
CM |
©|
CD
O
CM |
CM
CM
©|
-T
1-J
|
00
have
occu rred ,
but
th e y
have
tx 00
CM rH
00 I
CM I
CM CM
CM CM
cm’c m
cm
by
th o se w h o
had
liq u id a te d
©T
©T
CM CM
CM CM
@|
50 f
t h e c o n s e r v a t i v e e l e m e n t in t h e t r a d e is b e g i n n i n g t o u r g e
c a u tio n .
S in c e l a s t O c t o b e r t h e a d v a n c e h a s b e e n , r o u g h l y ,
fo u r c e n ts per p o u n d .
V is ib le s u p p lie s a r e lib e r a l.
T rad e
in t h i s c o u n t r y is n o t i n c r e a s i n g b y l e a p s a n d b o u n d s .
In
E u r o p e it s e e m s to b e r a th e r s lo w , d e s p it e s o m e r e p o rte d
in c r e a s e in L a n c a s h i r e , w h e r e , b y t h e w a y , h o w e v e r , th e r e is
p e r s i s t e n t t a l k t o t h e e f f e c t t h a t s h o r t - t i m e is t o b e a d o p t e d .
B r itis h e x p o r t s o f y a r n s a n d c lo th s m ig h t m a k e a m o re
fa v o r a b le e x h ib it th a n th e y d o .
T h e r e is a c o m p a r a t i v e
a b s e n c e o f a s h o r t in t e r e s t h e r e .
T h e b u l l s h a v e p r a c t i c a lly
h a d c a r t e b l a n c h e , e s p e c i a l ly s i n c e t h e p u b l i c a t i o n o f t h e
la s t G o v e r n m e n t r e p o r t, a n d th e r e a r e th o s e w h o th in k th a t
th e a d v a n c e h as been o v e rd o n e .
S o m e w e l l - k n o w n b u lls ,
i t is u n d e r s t o o d , h a v e l a r g e l y r e d u c e d t h e i r h o ld i n g s a n d a r e
p u r s u in g a m o r e c a u tio u s p o lic y .
C h ic a g o a n d W a ll S tr e e t
h a v e so ld h e a v ily .
S o , it a p p e a r s , h a v e L i v e r p o o l a n d t h e
S o u th .
F r o m a l l t h e s e s o u r c e s a t t i m e s , h o w e v e r , la r g e
b u y i n g o r d e r s w e r e r e c e i v e d in t h e f o r e p a r t o f t h e w e e k .
N e w E n g la n d , t o o , h a s b o u g h t to s o m e e x t e n t .
T he sp ot
m a r k e t s h a v e a d v a n c e d u n d e r t h e s t i m u l u s o f t h e rise in
“ f u t u r e s ” a n d t h e r e a r e r e p o r t s t h a t t h e t r a d i n g in t h e a c t u a l
c o t t o n h a s s o m e w h a t in c r e a s e d ; a l s o t h a t s p in n e r s in s o m e
c a se s h a v e b e e n s u p p ly in g th e ir w a n ts a h e a d b y p u rch a ses
o f w in te r a n d sp rin g m o n t h s .
S o m e o f t h e b e lie v e r s in s t i ll
h i g h e r p r i c e s a r e c o u n t i n g o n a n in c r e a s e d d e m a n d f r o m
s p in n e r s la te r o n .
T h e r e h a v e b e e n s o m e c o m p la in ts o f
v e r y h o t a n d d r y w e a t h e r in T e x a s — s o m e o f t h e m a x i m u m
te m p e r a tu r e s fo r th r e e or fo u r d a y s w e re 1 0 0 to 1 0 0 d eg rees
— b u t t h e o u t l o o k in s o m e p a r t s o f T e x a s a t l e a s t is b e lie v e d
to h a v e im p r o v e d .
T h e s a m e is t r u e o f o t h e r s e c t io n s o f t h e
b e l t , t h o u g h c o m p l a i n t s o f g r a s s y fie ld s a n d h e a v y o r c o n
t i n u o u s r a in s h a v e b e e n r e c e i v e d f r o m p a r t s o f t h e A t l a n t i c
S ta tes.
S in c e th e d a t e o f th e la s t G o v e r n m e n t r e p o r t, th e
c r o p is b e l i e v e d t o h a v e , o n t h e w h o l e , i m p r o v e d .
The
s p e c u l a t i o n f o r t h e r is e , h o w e v e r , is b a s e d o n t h e id e a t h a t
t h e c r o p w ill b e i n a d e q u a t e , w h i l e t h e c o n s u m p t i o n is e x p e c
t e d t o a t t a i n p r o p o r t i o n s s o l a r g e a s t o o p e n u p a n e w e ra in
t h e w o r l d ’s c o t t o n b u s i n e s s .
T h e re are th o se , h o w ever, w ho
b e l i e v e t h a t , in v i e w o f t h e l i b e r a l s u r p l u s s u p p l y t h a t w ill b e
c a r r ie d o v e r i n t o n e x t s e a s o n , t h e r e is l i t t l e p r o b a b i l i t y o f
a n y t h i n g lik e a s c a r c i t y o f c o t t o n u n l e s s t h e c r o p s h o u ld
m eet
w ith s o m e u n fo r e s e e n d is a s te r b e tw e e n
now
and
S e p t . 1.
T o - d a y p r ic e s a d v a n c e d , t h e n r e a c t e d o n r e a l iz in g
b y W a ll S t r e e t , C liic a g o a n d o th e r h o u s e s .
T h e S o u th an d
L iv e r p o o l b o u g h t.
T h e r e w e r e f u r t h e r r a in s in G e o r g ia a n d
r e p o r t s o f c o n t i n u e d h o t , d r y w e a t h e r in T e x a s , w h e r e s o m e
c o n t e n d t h e s u b - s o i l is n o t in a c o n d i t i o n t o s t a n d s u c h c o n
d i t i o n s if t h e y s h o u l d c o n t i n u e m u c h l o n g e r .
S o m e o f th e
T e x a s a d v ic e s , o n th e o th e r h a n d , w ere fa v o r a b le .
Spot
c o t t o n a d v a n c e d a t o n e t im e to 1 2 .7 5 c . fo r m id d lin g u p la n d s ,
t h e n r e a c t e d t o 1 2 . 6 0 , c lo s i n g a t 1 2 . 7 0 c .
CM CM
O O
CM CM*
CM CM
CM CM
Sat.
H.
__
M on.
H.
T uts.
12.75
W ed . Thurs.
12.65
12.60
Fri
12.70
N EW
Y O R K
Q U O T A T IO N S F O R 32 Y E A R S .
T h e q u o t a t io n s fo r m id d lin g u p la n d a t N e w Y o r k on
J u l y 9 f o r e a c h o f t h e p a s t 3 2 y e a r s h a v e b e e n a s f o llo w s :
1909.c _____12 .70
looa_______ u .2 0
1907_______ 1.1..(5
1906......... .10.80
1905.............10.90
1901
_11.25
1903_______ 11.60
1902
_9.25
1901.C............ 8.75
1900________10.12
1899 ________ 6.19
1898_________ 6.19
1897_________ 7.88
1896_________7.41
1895_______ 7.19
1894----------- 7.25
M ARKET
AND
1893.C
1892 . .
1891 .
189 0 ..
188 9 ..
188 8 ..
1887.
1886..
SALES
AT
F u tu r e s
M arket
C lo s e d .
Spot M arket
C lo s e d .
____ 8.00
____7.31
. . . . 8.38
____11.94
11.19
10.31
.10.94
. 9.50
N E W
T uesday_
W ednesday
Thursday .
Friday .
YO R K .
S a le s o f S p o t a n d C o n tr a c t.
S p o t.
Saturday.
1885.c . _ ......10.50
1884------------ U .06
188.1------------ 10.12
1882------------ 12.94
1581 ........... .U .I O
1880------------ 11.81
1879------------ 12.25
1878............1 1 .4 4
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Middling: u p la n d s.. ____
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l SSt 3 2 S I S S . S S l S S i S S l 9 S . S s J
T H E V I S I B L E S U P P L Y O F C O T T O N to -n ig h t , a s m a d e
u p b y c a b le a n d t e l e g r a p h , is a s f o l l o w s .
F o r e ig n
sto c k s,
a s w e ll a s t h e a f l o a t , a r e t h i s w e e k ’s r e t u r n s , a n d c o n s e
q u e n t l y a ll f o r e i g n fig u r e s a r e b r o u g h t d o w n t o T h u r s d a y
e v e n in g .
B u t t o m a k e t h e t o t a l t h e c o m p l e t e fig u r e s f o r
t o -n ig h t ( F r id a y ), w e a d d th e it e m o f e x p o r ts fr o m th e U n ite d
S t a t e s , i n c l u d i n g in it t h e e x p o r t s o f F r i d a y o n l y .
J u l y 9—
1909.
Stock at L iv erp ool-.
. bales. 1.056,000
7,000
Stock at L ondon____ ___ . . . .
75,000
Stock at M anchester.......... .. _ ......
1908.
534,000
8,000
65,000
Total Great Britain stock .
1,1.18,000
Stock at H amburg. _ . .
12 ,0 0 0
. 30,1.000
Stock at B rem en............. ........
Stock at Havre . .......
2.19,000
Stock at Marseilles..........................
3,000
Stock at Barcelona
............... 32,000
Stock at Genoa______ _______
.
32,000
Stock at Trieste_________________
7,000
607,000 1,149,000
14.000
24.000
323.000
261,000
142.000
188,000
5,000
3,000
39.000
21.000
40.000
27.000
34.000
20.000
7.16.000
13.000
184.000
105.000
4.000
12.000
50,000
7.000
580,000
375,000
628,000
T otal Continental s to c k s ..
Total European stocks
1907.
1906.
1.06.1,000 658,000
1,1,000 17,1)00
7.1,000 61,000
561,000
______1,786.000 1,187,000 1,710.000 l . m ,000
India cotton afloat for Europe
American cotton alloat for Europe
E gypt, Brazil, &c.,alloat for Europe
Stock In Alexandria, E g y p t ... . Stock In Bombay, I n d ia ... ..
Stock in U. S. ports_____________
Stock In U. S. Interior tow ns_____
U. S. exports to -d a y _____________
76.000
155,173
29.000
101,000
369,000
318,628
151,588
3,881
90.000
108,200
20.000
106,000
471,000
244,148
165,776
8,796
204.000
88,95.1
28,000
63,000
719.000
319,087
137,069
3,426
,000'
143 ,602
24 ,000
59 ,000
81ft ,00b
237 .402
176 ,752
17 ,672
T otal visible supply___________ 2,970,270 2,409,970 3,273,435 2,721,428
Of the above, totals of American and other descriptions are as follows:
A m e r ica n -
. . bales.. 962,000
.
60,000
. 575,000
. 155,17.1
. 318,628
U. S. port stocks______
. 151,588
U. S. exports to-d ay______ _
.
3,881
L lvcrpool s to ck ------------Manchester stock-
E a st In d ia n , B ra zil,
<ftc.-
927,000
68,000
472,000
88,95.1
319,087
137,969
3.426
548,000
55,000
310,000
143,602
237,402:
176,752
17,672
.2,220,270 1,499,970 ;2,011,435 1,488,428
94,000
7.000
London stock --------------------15,000
Manchester stock ------------53,000
Continental stock --------------76,000
India alloat for E urope____
.
29,000
E gypt, Brazil, <5cc., a lloa t.
101,000
Stock In Alexandria, E gy p t__
Stock In B om bay, I n d i a .............. 369,000
T otal East India, & c_______
T otal American......... .......... .
425,000
54,000
494,000
108,250
244,148
165,776
8,796
109,000
8,000
11,000
86,000
90,000
29,000
106,000
471,000
140,000
13,000
10,000
89,000
204,000
28,000
6,1,000
719,000
110,000
17,000
6,000
65,000
134,000
24,000
59,000
818,000
910,000 !1,262,000 1,233,000
- 744,000
_.2,226,270 1,499,970 2,011,435 11,488,428
T otal visible supply.................... 2,970,270 2,409,970 3,273,435 :i, 721.428
6.34(1.
7 .18d.
6.12(1.
6.75(1.
Middling Upland, L iverpool.........
11.20c.
13.05c.
10.90c.
12.70c.
Middling Upland, New Y ork . . ..
U d.
9 1,d . 8 7-16(1. 1 1 7-16(1.
Egypt, Good Brown, L iverpool.
11.50(1.
8.65d.
9.15(1.
8.25(1.
Peruvian, Hough G ood, Liverpool.
OHd. !r» ii tod.
5 9-16(1.
Broach, Fine, L iverpool................
5 3-Hid.
5 K d.
5% A.
Tlnnevelly. Good, L iv e rp o o l.____
5 MCI.
-H O L I D A Y .
Quiet,
Quiet,
Quiet,
Quiet,
15 pts. adv
10 pts. dee
5 pts. d e c .
10 pts. ad v
T o t a l. .
.
.
..
.
Very steady _
Barely steady
S tea d y______
S teady______
700
■
700
____
2.100
2,100
2.800
2,800
at
II
I I
67,479
7,072
23,942
3,753
982
893
157,242
12,156
283,413
p ric e s
C o n tin e n ta l im p o r ts fo r th e p a s t w e e k h a v e b een 6 8 ,0 0 0
b a le s .
T h e a b o v e f ig u r e s f o r 1 9 0 9 s h o w a d e c r e a s e f r o m la s t w e e k
o f 2 1 8 , 1 4 1 b a l e s , a g a i n o f 5 6 0 , 3 0 0 b a le s o v e r 1 9 0 8 , a d e
c r e a s e o f 3 0 3 , 1 6 5 b a le s f r o m
1 9 0 7 , a n d a g a in o f 2 4 8 , 8 4 2
b a le s o v e r 1 9 0 6 .
%
J u l y 1 0 1900.]
T H E
C H R O N IC L E
A T T H E I N T E R I O R T O W N S th e m o v e m e n t— t h a t is ,
t h e r e c e i p t s - f o r t h e w e e k a n d s in c e S e p t . 1 , t h e s h i p m e n t s
fo r th e w e e k a n d th e sto c k s t o -n ig h t , a n d th e s a m e it e m s f o r
t h e c o r r e s p o n d i n g p e r i o d f o r t h e p r e v i o u s y e a r — is s e t o u t
1 1 1
Q U O T A T IO N S F O R M ID D L IN G C O T T O N A T O T H E m
M A R K E T S .— B e lo w a r e th e c lo s in g q u o t a t io n s o f m id d lin g
c o t t o n a t S o u t h e r n a n d o t h e r p r i n c ip a l c o t t o n m a r k e t s f o r
e a c li d a y o f t h e w e e k .
in d e t a i l b e l o w .
5.
S a t'd a y .
Galveston . .
_
New Orleans .
______
Mobile
Savannah __
Charleston __
W ilm ington __
N o r fo lk ______
B o s t o n _______ H O LIB a ltim o re__ __
DAY.
P hiladelph ia__
A ugusta____
M em p h is______
St. L ouis. . _
H o u s t o n ______
Little R o c k ____
spa
fo2 o
& £.3
2 2 B*o t?
P P tP-i fS
C l o s i n g Q u o ta tio n s f o r M id d li n g C o lto n on
W e ek e n d in g —
J u l y 9.
S 'p r 's > S 'p t ? 3 S 2 .? 2 0 <a 2 'c: S S -S S fl 2-0 e
M onday.
H O L IDAY.
T u e s d a y . W e d ’ d a y . T h u r s d ’ y.
F r id a y .
11%
12 1-16
12
11%
11%
12 1-16
12
12
11%
12 1-16
12
12
12
12 3-16
12
12%
____
12
12.60
12%
13.00
12%
12
11%
11 %
11 %
____
12
12.75
12 Ji
12.90
12%
12
12
11 %
11 %
12%
12.00
12%
12.85
12%
12
12
11%
11 %
12%
12.00
12%
12.95
12%
12
12
U %
11 %
N EW
ORLEANS
O P T IO N
M A R K E T — T h e h ig h e st,
lo w e s t a n d c lo s i n g q u o t a t i o n s f o r l e a d i n g o p t i o n s in t h e N e w
O r le a n s c o t t o n m a r k e t f o r t h e p a s t w e e k h a v e b e e n a s f o l l o w s :
*t*-q©©©
S a t’ d a y ,
J u l y 3.
© >-* ©
►
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Wmm to >-**-»
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©*v]t\5©>-**vl©©OiO>-*-vlOl©
© © © © • ^ • - ‘© © © ► - ‘©t'O
8©©©H*b3©W©©©«4W©O0*I^OOMO0©©H-*»i*ts3tV3©-‘l©©»Ut-*
sa»p-^ioo<optoH*^i^*j-*wooco oo © © © h*©Lt ►
-»©© © ooo oo t-o
M onday,
J u l y 5.
J u ly —
A OCOOQ MOOiOOMOOCOO' O »-*© OC© I
I2.14-.42 12.30-.31 12.34-.42 12.35- .41
12.42-. * 12.20 — 12.29-.32 12.34 *
Range . .
._
Closing______
12.21-.45 — ® — 12.3 0.43 1 2 .3 6 .4 0
12.44-.45 12.25 — 12.30 —•12.35-.37
R a n g e __ __ _
Closing______
1 2.22.42 1 2.24.44 12.35-.39 — ® .41
12.42-.44 12.23-.25 12.32-.33 12.37-.39
Range _____
Closing______
12.07-.34 12.10-.27 12.18-.31 12.24-.30
12.31-.32 1 2.12.13 12.19- .20 1 2 .2 0 .2 7
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Range
_____
12.10-.37 12.14-.28 12.22-.36 12.28-.37
12.34-.36 12.15-. 16 12.22-.23 12.29- 30
R a n g e ______
C lo sin g .. . .
12.21-.42 12.19-.34 12.28-.40 12.28-.41
12.40- .42 12.21-.22 1 2 .2 9.30 12.37-.37
•
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to H±
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O p tio n s _____
Steady.
Quiet.
Very sty. Steady.
T on e—
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OVERLAN D
M OVEM ENT
FOR
TH E
W E E K
AND
S I N C E S E P T . 1 .— W e g i v e b e l o w a s t a t e m e n t s h o w i n g
t h e o v e r l a n d m o v e m e n t f o r t h e w e e k a n d s in c e S e p t . 1 , a s
m a d e u p fr o m te le g r a p h ic r e p o r ts F r id a y n i g h t .
T h e re su lts
f o r t h e w e e k a n d s in c e S e p t . 1 in t h e la s t t w o y e a r s a r e a s
fo llo w s :
Via
Via
Via
Via
Via
Via
Via
------- 1907-08-------
W eek .
S in ce
S e p t . 1.
W eek .
S in ce
S e p t . 1.
7,521
St. Louis
____ _ . ----1,054
C a iro ______ ___________ ..
R ock Island.......
. .
L ou isv ille____________ ____ . . .
616
267
Cincinnati
............... ...
988
Virginia p oin ts...................... .
other routes, & c___________ ._ 1,267
660,225
303,528
30,524
83,993
48,777
184,007
275,590
8,336
1,821
397
240
1,117
592
152
455,983
223,596
35,164
55,107
51,208
92,647
212,255
Total gross overlan d_____
D e d u s t s h ip m e n ts —
.. ...1 1 ,7 1 3 1,586,584
12,709 1,125,960
107,388
65,919
71,727
Overland to N. Y ., B oston, &<:. .
708
. 1.328
Between Interior tow ns--------Inland, & c., from S outh---------- . . 2,688
143,692
47,574
52,532
------- . . 4,724
243,798
4,930
245,034
Leaving total net overland* ......... . . 6,989 1,342,786
7,779
880,926
Total to be deducted
1,278
2,078
1,574
* Including movem ent b y rail to Canada.
T h e f o r e g o i n g s h o w s t h e w e e k ’s n e t o v e r l a n d m o v e m e n t
h a s b e e n 0 ,9 8 9 b a le s , a g a in s t 7 , 7 7 9
b a le s f o r t h e w e e k
la s t y e a r , a n d t h a t f o r t h e s e a s o n t o d a t e t h e a g g r e g a t e n e t
o v e r l a n d e x h i b i t s a n in c r e a s e o v e r a y e a r a g o o f 4 6 1 , 8 0 0 b a l e s .
tn
— ---- 1908-09S ig h t a n d S p in n e r s '
T a k in g s .
W eek .
S in ce
S e p t . 1.
Receipts at ports to July 9_
19,171
Net overland to July 9 _____ ______ 0,989
Southern consum ption to July 9_a 50,000
9,721,701
1,3-12,780
2,100,000
Total m arketed....... .......... .......... 70,100 13,104,490
37,582
Inter or stocks In excess_____ .,.* 2 1 ,0 3 7
Came Into sight during w e e k -. 55,123 --------------Total In sight July 9 ___________ _____ 13,202,072
-1907-08S in ce
W eek .
33,723
7,779
35,000
S e p t . 1
8,145,308
880,920
1,985,000
70,502 11,011,234
*4,077
85,193
71,825
11,090,427
North, spinners' takings to July 9 . 20,898 2,090,380
27,220 1,821,070
a These figures a r e n ot th e ta k in g s b y Southern mills, but are estimates
of consum ption based on Information received from time to time during
the season and revised, If necessary, when com plete returns are received
at season’s close. Reports from various sections of the South Indicate
that takings by mills have thus far tilts season been appreciably heavier
than during the corresponding period a year ago, but actual or approxim ate
data are not obtainable. * Decrease during week.
M o v e m e n t i n t o s i g h t in p r e v i o u s y e a r s :
W eek —
1907— July
1900— July
1905— July
1904— July
S i‘n c e S e p t . '1—
B a le s .
'
1906-07— July 12............ .13,141,094
12...................
52,354
.10,706,484
1 3 . ........................ 07,306 1905-06— July 13
1904-05— July 14.
12,868,416
t-|___________
124,740
1903-04— July 15. ____ 9,927,205
1 6 . ..................
43,550
B a le s .
Firm.
Steady.
W E A T H E R R E P O R T S B Y T E L E G R A P H — T e le g r a p h ic
re p o r ts to u s th is e v e n in g fr o m
T h e a b o v e t o t a l s s h o w t h a t t h e in t e r i o r s t o c k s h a v e de
creased d u r i n g t h e w e e k 2 1 , 0 3 7 b a l e s a n d a r e t o - n i g h t 1 4 , 1 8 8
b a le s le s s t h a n a t t h e s a m e t i m e l a s t y e a r .
T h e r e c e ip t s
a t a ll t h e t o w n s h a v e b e e n 1 7 , 5 8 4 b a l e s le s s t h a n t h e s a m e
w e e k la s t y e a r .
-------1908-09-------
Quiet.
Steady.
* Nominal.
to
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— @ — — ® — — @ — — © —
12.30-.32 12.11-.14 12.18-.20 12.24-.26
12.08-.35 12.13-.28 12.20- .33 12.26-.34
12.34-.3 5 1 2.1 4.15 12.21-.22 ,12.27.28
M arch —
to I © © © © ^ © © © V j V i ^ V i © © © © ^ © © © © * * w £ » • © © © m V i m *-*^*-*
H O LIDAY.
Range . ___
Closing______
J an u ary—
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F r id a y ,
J u l y 9.
R a n g e ______
Closing______
A u g u st—
3 2 Co
«
T u e s d a y , W e d ’ d a y , TThursd'y,
J u l y 7.
J u l y 8.
J u l y 6.
o f a fa v o r a b le t e n o r .
t h e S o u t h a r e o n t h e w h o le
I n m o s t s e c t i o n s o f t h e b e l t r a in h a s
f a lle n , b u t th e p r e c ip ita tio n h a s b e e n m o d e r a te o r lig h t as a
ru le
and
in
m any
ca ses b e n e fic ia l.
C o m p la in ts o f
m o is tu r e , h o w e v e r , c o m e fr o m p o r tio n s o f T e x a s .
la c k
of
A num ber
o f o u r c o r r e s p o n d e n t s n o t e t h a t t h e c r o p is i m p r o v i n g .
Galveston, Texas.— C o t t o n a s a r u l e is n e e d i n g r a in in
T exas.
T h e p l a n t is r e p o r t e d s t o p p e d g r o w i n g o n a c c o u n t
o f la c k o f m o i s t u r e .
D r y a ll th e w e e k .
A v e r a g e th e r
m o m e te r 8 4 , h ig h e st 8 8 a n d lo w e st 8 0 .
Abilene, Texas.— T h e w e e k ’ s r a in f a ll h a s b e e n e ig h t e e n
h u n d r e d t h s o f a n in c h o n o n e d a y .
T h e th e rm o m e te r h as
a v e r a g e d 8 4 , th e h ig h e s t b e in g 9 8 a n d th e lo w e s t 7 2 .
June
r a i n f a ll 4 . 0 0 in c h e s .
Brenham, Texas.— R a i n h a s f a lle n l i g h t l y o n t w o d a y s
d u r i n g t h e w e e k , t h e r a in f a ll b e i n g t w o h u n d r e d t h s o f a n
in c h .
T h e th e rtn o m e te r h a s ra n g e d fro m 7 6 to 9 8 , a v e ra g in g
87.
J u n e r a i n f a ll 2 . 9 0 i n c h e s .
Corpus Christi, Texas.— I t h a s r a in e d o n t w o d a y s d u r i n g
th e w e e k .
T h e p r e c ip ita tio n r e a c h e d e ig h t h u n d r e d th s o f
an in c h .
T h e th e r m o m e te r h a s a v e r a g e d 8 3 , ra n g in g fr o m
7 6 to 9 0 .
J u n e r a i n f a l l , 1 . 4 4 in c h e s .
Cuero, Texas.— I t h a s r a i n e d o n o n e d a y o f t h e w e e k , t h e
r a i n f a ll b e i n g f o r t y - t w o h u n d r e d t h s o f a n i n c h .
A verage
t h e r m o m e t e r 8 7 , h ig h e s t 1 0 0 a n d lo w e s t 7 4 .
J u n e r a in fa ll,
1 .4 2 i n c h e s .
Dallas, Texas.— T h e r e h a s b e e n n o r a in t h e p a s t w e e k .
T h e t h e r m o m e t e r h a s a v e r a g e d 8 7 , t h e h i g h e s t b e i n g 1 01
a n d th e lo w e st 7 3 .
J u n e r a i n f a l l , 4 . 0 1 in c h e s .
Fort Worth, Texas.— W e h a v e h a d n o r a in d u r i n g t h e w e e k .
T h e th e r m o m e te r h a s a v e r a g e d 8 8 , ra n g in g fr o m 7 6 to 1 0 0 .
J u n e r a in fa ll, 3 .0 1 in c h e s .
Henrietta, Texas.— W e h a v e h a d n o r a in d u r i n g t h e w e e k .
T h e th e r m o m e te r h a s r a n g e d fr o m 71 to 1 0 0 , a v e r a g in g 8 0 .
J u n e r a i n f a l l , 2 . 6 8 in c h e s .
Huntsville, Texas.— W e h a v e h a d r a in o n o n e d a y d u r i n g
th e p a s t w e e k , to th e e x t e n t o f fo r t y -fiv e h u n d r e d th s o f a n
in c h .
A v e r a g e th e r m o m e t e r 8 3 , h ig h e st 9 7 , lo w e s t 7 4 .
J u n e r a i n f a l l , 3 . 6 8 in c h e s .
Kerrville, Texas.— T h e r e h a s b e e n r a in o n o n e d a y o f t h e
p a s t w e e k , t h e r a i n f a ll b e i n g f o r t y - f i v e h u n d r e d t h s o f a n
in c h .
T h e t h e r m o m e t e r h a s a v e r a g e d 8 4 , th e h ig h e s t b e in g
101 a n d th e lo w e st 6 6 .
J u n e r a in fa ll, 0 .9 2 in c h .
Lampasas, Texas.— W e h a v e h a d n o r a in d u r i n g t h e w e e k .
T h e t h e r m o m e t e r h a s a v e r a g e d 8 7 , r a n g in g fr o m 7 1 to 1 0 3 .
J u n e r a i n f a l l , 3 .2 1 in c h e s .
Longview, Texas.— W e h a v e h a d r a in o n o n e d a y d u r i n g
th e w e e k .
T h e r a i n f a ll r e a c h e d s e v e n h u n d r e d t h s o f a n in c h .
T h e th e r m o m e te r h a s ra n g e d fro m 7 4 to 1 0 4 , a v e ra g in g 8 9 .
J u n e r a in fa ll, 2 .3 0 in c h e s .
T H E
1 1 3
L u l i n g , Texas. — There has been rain on one day durin
the week, to the extent of eight hundredths of an inch~
Lowest temperature 75, highest 102, average 89. June
rainfall, 1.38 inchee.
Nacogdoches, Texas.— There has been no rain during the
week. The thermometer has averaged 85, the highest being
97 and the lowest 73. June rainfall, 3.90 inches.
Palestine, Texas. — We have had no rain during the week.
The thermometer has averaged 85, ranging from 75 to 96.
June rainfall, 1.33 inches.
Paris, Texas. — There has been no rain during the week.
Thermometer has ranged from 75 to 102, averaging 89.
June rainfall, 5.02 inches.
San Antonio, Texas.— We have had no rain during the
past week. Average thermometer 88, highest 102 and lowest
74, June rainfall, 1.64 inches.
Taylor, Texas.— There has been rain on one day of the
past week, the rainfall being two hundredths of an inch.
The thermometer has averaged 86, the highest being 98 and
the lowest 74. June rainfall, 1.78 inches.
Weatherford, Texas.— We have had no rain during the
week. The thermometer has averaged 88, ranging from
72*to 103. June rainfall, 1.70 inches.
New Orleans, Louisiana.— Rain has fallen on three days
during the week, the precipitation being ninety-two hun
dredths of an inch. The thermometer has averaged 85.
Shreveport, Louisiana.— There has been a trace of rain on
one day during the week. Average thermometer 86, highest
97, lowest 74.
V i c k s b u r g , M i s s i s s i p p i . — We have had only a trace of rain
on one day of the week. The thermometer has averaged 95,
the highest being 97 and the lowest 76.
Helena, Arkansas.— Hot week; fine for killing grass. We
have had rain on one day of the past week, the rainfall being
twenty-five hundredths of an inch. The thermometer has
averaged 84, ranging from 73 to 95.
Memphis, Tennessee.— Weather favorable the past week
and the crop is progressing satisfactorily. We have had
rain on one day during the week, to the extent of nine
hundredths of an inch. Average thermometer 83.7, highest
93.8, lowest 70.
Mobile, Alabama.— Beneficial rain in the interior latter
part of week. Crop reports are generally improving but the
cotton plants are small and fields in some sections grassy.
There has been rain on three days during the week, the rain
fall reaching two inches and twelve hundredths. The ther
mometer has averaged 85, ranging from 73 to 98.
Montgomery , Alabama.— Weather hot and cotton shows
quite an improvement. Rain has fallen on two days of the
week, the rainfall being six hundredths of an inch. The
thermometer has ranged from 74 to 96, averaging 84.
Selma, Alabama.— We have had rain on three days of the
past week, the rainfall reaching thirty hundredths of an
inch. Average thermometer 84, highest 94, lowest 74.
Savannah, G e o r g i a . — We have had rain on six days durirw
the week, the rainfall reaching four inches and thirteen
hundredths. The thermometer has ranged from 72 to 96,
averaging 81.
Madison, Florida.— There has been rain on four days of
the week, the rainfall being three inches and twenty-seven
hundredths. The thermometer has averaged 83, the highest
being 92 and the lowest 74.
Charlotte, North Carolina.— Conditions are improving very
much. It has rained on one day of the week, the precipita
tion being thirty-one hundredths of an inch. Thermometer
has averaged 74, the highest being 92 and the lowest 61.
Charleston, South Carolina.— Rain has fallen on five days
of the week, to the extent of one inch and fifty-four hun
dredths. Average thermometer 83, highest 94, lowest 72.
' The 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:
•July o 1909.
F eet.
J u ly
10 1908.
F eet.
New Orleans___________ Above
zero of gauge,
14.5
M e m p h is______________ Above
zero of gauge.
26.7
N ashville______ _____ .A b o v e zero o f gauge.
13.8
S hreveport____ ______ Above zero of gauge.
4.5
V ic k sb u r g _________. . . Above zero o f gauge.
38.5
19.1
25.8
10.5
20.9
42.0
W O R L D 'S S U P P L Y A N D T A K I N G S O F C O T T O N .—
T h e f o l l o w i n g b r ie f b u t c o m p r e h e n s i v e s t a t e m e n t in d i c a t e s
a t a g l a n c e t h e w o r l d 's s u p p l y o f c o t t o n f o r t h e w e e k a n d s in c e
S e p t . 1 f o r t h e la s t t w o s e a s o n s , f r o m a ll s o u r c e s f r o m w h ic h
s t a tis tic s a r c o b t a i n a b l e , a ls o th e t a k in g s , o r a m o u n t s g o n e
o u t o f s i g h t , f o r t h e lik e p e r i o d .
Cotton Takings.
W eek and Season.
1008-09.
W eek .
S eason .
1907-08.
W eek .
S ea son .
Visible supply July 2 . ______ . 3,188,411
2,553,622
Visible supply Sept. 1_____ ____
1,714,982
2,291,814
American in sight to July 9 __
" 55,123 13,202,072
71,825 11.096,427
Bombay receipts to July 8 . ----15.000 2,066,000
23,000 1,979,000
Other India shlp'ts to July 8 —
1 1.000
369.000
9.000
322.000
Alexandria receipts to July 7 __
300
889,300
1.000
953.000
Other supply to July 7 * . --------3,000
187.000
7,000
245.000
Total supply----------------- --------- 3,272,834 18,428,354 2,065,447 16.887.271
D ed u c t—
Visible supply to July 9 ----------- 2,970,270
T otal takings to July 9 ................
Of whtoh Am erican--------------Of vvhtch oth er-----------------------
2,970,270 2,409,970
302,564 15,458,084
23 6,204 11,952,784
66 ,300 3,505,300
2,409,970
255.477 14.477.301
182.477 10.932.301
73,000 3,545,000
Embraces receipts !■ Europe from Brazil, Smyrna, West Indies, &c.
[V o l .
C H R O N IC L E
IN D IA
J u ly
COTTON
8.
R e c e ip t s a t —
M OVEM ENT
FROM
ALL
l x x j t ix .
PORTS.
1908-09.
1007-08.
1 S in ce
W e e k . 1 S e p t . 1.
I S in ce
W e e k . ! S p e t . 1.
W eek .
15,000 2,066,000
23,000 1.979,000
32,000 2.947.000
Bom bay—■
1908-09..................
1907-08__________
1900-07..............
Calcutta—
1908-09__________
1907-08__________
1906-07................Madras—
1908-09__________
1907-08__________
1906-07__________
All others—
1908-09__________
1907-08__________
1900-07__________
Total all—
1908-09__________
1 9 0 7 -0 8 ............. ..
1 9 0 6 -0 7 ..............
S in ce
S e p t . 1.
1.
S i n c e S e p te m b e r
F o r th e W e e k .
G rea t
B r ita in .
1006-OT.
C o n ti
n e n t.
G re a t
B r i t h in .
C o n ti
n e n t.
T o ta l.
6,000
9,000
36,000
6,000
9,000
36,000
1,000
1,000
1,000
6,000
5,000
5,000
8,000
40,000
25,000
129,000
45,000
30,000
137,000
T o ta l.
23,000 562.000 C85.000
610,000 638,000
28,000
63,000 1,115,000 1,178,000
____
1,000
____
6,000
____
1,000
____
1,666
1,000
1,000
1,000
4,000
6,000
5.000
22,000
27,000
24,000
26,000
33,000
29,000
1,000
____
—
8,000
7,000
3,000
9,000
7,000
3,000
20,000
20,000
11,000
278,000
239,000
214,000
*98,000
259,000
225,000
1,000
2,000
—
16,000
16,000
46,000
17,000
18,000
46,000
1,000
52,000 902,000 984,000
59.000 901.000 960,000
87,000 1,482,000 1,569,000
A L E X A N D R IA
R E C E IP T S
A l e x a n d r i a , E g y p t,
J u l y 7.
1008-09.
1907-08.
1906-87.
4,500
6,069,080
10.000
7,146.338
200
6,858,079
S in ce
T h is
W e e k . S e p t . 1.
T h is
S in ce
W e e k . S e p t . 1.
T in s I S i n c e
W e e k . S e p t , l.
I ____
R e c e ip ts
E x p o rts
(cantars)—
(bales) —
AND
S H IP M E N T S
3,000 189,264
207,139
T o M anchester__________
13,750 350,495
T o Continent ..............—
900 87,104
T o A m erica.......................
202,179
9,500 352,085
1 ------ 70,165
1,500 21 1,347
------ 201,715
5,250 343,449
2,000 113,732
T otal e x p o r ts ------------- 17,050 834,302
9,500 846,580
8,750 870,213
h ____
T h e s t a t e m e n t s h o w s t h a t th e r e c e ip ts fo r th e w e e k w e re
4 ,5 0 0 c a n ta r s a n d th e fo r e ig n s h ip m e n t s 1 7 ,6 5 0 b a le s .
M ANCHESTER
M A R K E T .— O u r
rep o rt
r e c e iv e d
by
c a b le t o - n i g h t f r o m M a n c h e s t e r s t a t e s t h a t t h e m a r k e is
f ir m f o r b o t h y a r n s a n d s h i r t i n g s .
T h e r e is t a l k o f r e s o r t i n g
to s h o r t t im e .
W e g iv e th e p ric e s fo r t o -d a y b e lo w a n d
le a v e t h o s e f o r p r e v i o u s w e e k s o f t h i s and l a s t year f o r
c o m p a r iso n .
1909.
32s Cop
trigs, com m on
to finest.
T w ist.
d. s. d.
d.
May
28
June
4
11
18
25
July
2
9
1908.
8 H lbs. SHlrt- C ot'n
s. cl.
d.
8M lbs. S h in -
32s Cop
M id .
U pl's
Inns, com mon
to finest.
T w ist.
d.
d. 8
d.
5
1
d.
d.
IX
6.52
1H ©8
lH © 8
1H © 8
I X ©8
3
3
3
3
6.51
6.58
6.70
6.55
1
3
2
6.27
6.34
8
®
8H 4
9
@8 10X
5.88 8 9-16 ©
0%
8
8
@
©
©
©
SH
8X
8M 4
4
4
9 4
9
9
9
9
©8
©8
©8
©8
5.83
5.83
5.96
6.06
5
OH 5
OH 5
OH 5
©
©
OH
0%
5
OH 5
OX
HH
m
8:q
S H IP
e x p o rts
reach ed
u p fro m
4 10 @ 9
4 10H @9
10X
10X
11
11
0
IX
85s
85ii
8H
8%
©
©
©
©
6.33 8 H
©
6.75j8 0-16 @
P I N G N E W S .— A s sh o w n on a
o f c o t t o n fr o m th e U n ite d S t a t e s
4 0 ,0 6 4 b a le s .
T h e s h ip m e n ts
m a il a n d t e le g r a p h i c r e t u r n s , a r e
OH
h.
C ot'n
M id .
U pl's
©8
©8
©8
p r e v io u s p a g e , th e
th e p a st w eek h a v e
in d e t a i l , a s m a d e
a s fo llo w s :
T o ta l b a le s .
N E W Y O R K — To Liverpool— July 2— Caron la. 1: Celtic, 3,839------ 3,840
T o H avre—-July 3— Caroline, 1,125: Chicago, 189 foreign; Tanagra, 1,850....... .......... - ..................... ...... ..................... - ...................
3,104
T o Antwerp— July 2— St. Andrew, 2 0 0 .............................................
200
T o Venice— July 6— Argentina, 200 ___________ _____ __________
200
T o Tr este— July 6— Argentina, 500.. -July 7— Carpatlila, 100
600
T o Flume— July 6 — Argentina, 100_____________ ____________ 100
G A L V ESTO N — To Liverpool— July 2— Logician, 9,4 8 8 ....... ...... ._ 9,488
T o Rotterdam — July 1— Penrith Castle, 288 . . . ------- -----------288
N EW O RLEAN S— To Liverpool— July 6— Ccstrlan. 0 ,600
July
9— Tactician, 3,000----------------------------------------------------------- . .
9 600
TO Glasgow—July 8—-Nyanza, 250_________________ _______._
’250
To Havre— July 2— St. Laurent, 403 (a d d itio n a l)...J u ly »—
Oxonian, 9,300 --------------------------------- ------------------------ _
g 703
............................ “ 'm o
T o Rotterdam — July 0—-Relda, 100.....
T o Tr este— July 8— Giulia, 1,600------------- ----------------j goo
’ 50
T o Mexico July 9— City of Mexico, 5 0 . . . ______
N O R F O L K — T o London— July 7— Swaledale, 50. .
'
50
BOSTON— T o Liverpool— July 6— Canadian, 831.
831
Total .................... - ......................................................................... ______..4 0 ,0 6 4
T h e p a r tic u la r s o f th e fo r e g o in g s h ip m o n ts fo r th e w e e k ,
a r r a n g e d in o u r u s u a l f o r m , a r e a s f o l l o w s :
a r e a l F r e n c h O er - — O th .E u r o p e — M e x . ,
B r ita in ,
p o r ts , m a n y .
.Worth, s o u t h , etc. J a p a n .
New Y o r k . ___ 3,840
Galveston . . . . . . 9,488
9,850
New Orleans
50
Norfolk .
831
Boston .
Total . .
-----3,164
- - - ...............
9,703
------
.24,059 12,867
T o ta l.
200
288
too
900
............... ................................
1,600
50 . . .
8,104
9,776
21,303
50
831
588
2.500
40,064
T h e e x j o r t s t o J a p a n s in c e S e p t . 1 h a v e b e e n 1 6 0 ,5 0 1 b a le s
........... ^ vv.fic p o r t s , 6 0 0 b a le s f r o m N e w O r le a n s a n d M , 2 5 2
b a le s fr o m N e w Y o r k .
C o t t o n f r e i g h t s a t N e w Y o r k t h e p a s t w e e k h a v e been a s
f o l l o w s , q u o t a t i o n s b e i n g in c e n t s p e r 1 0 0 l b s . :
J wly 10 1909. |
Liverpool . _____ _
M anchester_______
Havre ____________
B r e m e n ______ ____
Ham burg ______ _
A n t w e r p __________
Ghent, via Antwerp
R o v a l_____ ______
Gothenburg ______
Barcelona, d irect___
Genoa _______ _ _
T r ie s t e ____________
J a p a n ......... .......... ..
T H E
S a t.
M on.
Hollday.
Hollday.
T u es.
F ri.
T h u rs.
W ed.
14
10
14
18
22?*
18
26
28
30
18
18
25
45
C H R O N IC L E
14
10
14
18
22?*
18
26
28
30
20
18
25
45
14
10
14
18
22?*
18
26
28
30
20
18
25
45
14
10
14
18
22?*
18
26
28
30
20
18
25
45
L I V E R P O O L . — B y c a b le f r o m L iv e r p o o l w e h a v e t h e f o l
lo w in g s t a t e m e n t o f th e w e e k ’s s a le s , s t o c k s , & c ., a t t h a t p o r t :
J u n e 25.
J u n e 18.
18,000
45.000
Sales of the week
_________
1,000
2,000
Of which speculators took . .
1,000
I ,000
Of which exporters took —
40.000
42.000
Sales, Am erican__ ________
0,000
5,000
Actual exp ort____ . _______
60.000
72.000
F o r w a r d e d __________________
T otal stock— E stim ated-------- 1,149,000 1.114.000
O f which American— E st. .1,040,000 1.016.000
T otal Imports of the w eek----------------------02,00031.000
29.000
Of which Am erican-----------44,000
90.000
Amount a l l o a t ---------------------94,000
63.000
04.000
Of which A m erican_______
2.
37.000
400
1,300
30.000
5,000
58.000
1,089,000
989,000
38.000
20.000
69.000
48.000
Jull/
9.
30,000
Jull/
1,000
25.000
6,000
60.000
1,050,000
962,000
33.000
28.000
70.000
42.000
T h e to n e o f th e L iv e r p o o l m a r k e t fo r s p o t s a n d fu tu r e s
e a c h d a y o f t h e p a s t w e e k a n d t h e d a i l y c lo s i n g p r i c e s o f
s p o t c o tto n h a v e b e e n a s fo llo w s :
Saturday.
S p ot.
Market
12:15
1>. M.
M on d a y.
Tuesda y.
1
}
J
W ednesday.
Dull.
HOLIDAY.
HOLIDAY.
Dull.
Quiet.
6.68
6.72
6.59
6.75
5,000
500
6,000
1,000
7,000
300
4,000
200
Active at Steady at
9 @10 pts. 7 @8 pts.
advance. advance.
Quiet at Irregular at
6@7 pts. 1 pt. dcc.ito
1 pt. adv.
decline.
Market
4
1>. M.
Quiet at
Quiet at
6@8J* pts. 2 @4 pts.
advance. advance.
Feverish at Barely sty.
1@3 pts. at 1 @1?*
pts. adv.
advance.
--- I
VI . Iivm v.) cti V XJt YVyl pv/ui IU1 WtVOll Viaj CL1v>
b e lo w .
P r ic e s a r e on th e b a s is
c la u s e , u n le ss o th e r w is e s t a t e d .
July 3
July 9.
July , .
July-A ug,
Aug.-Sent.
Sept.-O ct.
O ct.-N ov ,
N ov.-D oc.
Dee.-Jan,
J a n .-F ob ,
Feb.-M ch.
Mcli.-Apr.
Apr.-May.
May-June.
June-July.
J uly-A ug,
Sat.
Mon.
Tues.
?* 12?* 12?* 4
p.m . p.m. p.m. p.m.
12
d.
d.
HOLIDAY.
d.
12!*
p.m.
Wed.
d.
d.
17!*
17 J*
12
40 V*
38 •/,
36?*
36 V,
6
6
6
6
6
6
0
6
6
6 40
6 40
6 39
u p la n d , g o o d
VV>11
o r d in a r y
Fri.
Thurs.
4
4 12?* 4 1 2 'A 4 12?*
p.m. p.m. p.m. p.m. p.m. p.m. p.m.
52
52
47
45
42
39?*
39 J*
39?*
3 9!*
6 39 ?*
6 39 J*
d.
HOLIDAY.
of
36 ?*
37
37
37 %
57%
37 %
37
d.
55 !*
55 ?*
50
48
46
44
44
d.
51 H
51 ?*
45
43
41
39
39
44 39
44 !* 39 !*
44 % 39 ?*
40
45
45
40
45 40
44
39
d.
43
53
d.
54 V,
54
36
48?*
33 !* 46
3 1 !* 43 ?*
29?* 40?*
29 V* 40?*
29?* 10 J*
41
30
30 41
30
41
30
41
30
29
41
40
d.
58 V*
58 V,
53
49?*
46 !*
44
44
d.
|
56
56
50
17 V*
44 ?*
42
42
44 42
44!* 42
44 !* 42
44 H 42
14 V, 42 V*
44 4* 42 ?*
43
It
B R E A D S T U F F S .
Friday Night, July 9 1 9 0 9 .
F lo u r f o r p r o m p t d e l i v e r y h a s b e e n q u i e t .
B u y e r s h e ld
o ff b e c a u s e o f th e m e a g r e s u p p ly o n o ffe r a n d th e c o m p a r a
t i v e ly h ig h v ie w s o f r e c e iv e r s .
T h e s c a r c it y h a s in d u c e d
jo b b e r s a n d e x p o r te r s to g iv e m o re a t t e n t io n to n e w w in te r
t o a r r iv e m a i n l y f o r m ill s h i p m e n t in A u g u s t , S e p t e m b e r
a n d O c to b e r.
L o c a l d e a le r s b o u g h t s e v e r a l f a i r l y la r g e lin e s
o f c h o ic e n e w K a n s a s s t r a i g h t s , l a r g e l y a t $ 5 3 5 @ $ 5 5 0 ,
a l t h o u g h m a n y m ill a g e n t s d e c la r e d t h e y h a d n o t h i n g t o
o ffe r
under
$5 6 0 @ $ 5 70
in
sack s.
E x p o rte rs
booked
a b o u t 3 0 ,0 0 0 s a c k s o n p r a c tic a lly s im ila r t e r m s .
T h e y a lso
c o n tr a c te d fo r a t le a s t 7 0 ,0 0 0 s a c k s n e w M a n ito b a p a t e n t s ,
c h i e f ly f o r s p e c i a l s h i p m e n t s O c t o b e r t o J a n u a r y in c l u s i v e
on p riv a te t e r m s , m a in ly fo r U n ite d K in g d o m p o r ts .
W h e a t d e c lin e d .
T h e r e w a s b o u n d to b e r e a d ju s tm e n t
o f v a lu e s t o a n c w - c r o p b a s i s w h e n t h e n e w w i n t e r - w h e a t
cro p b eg a n to m o v e .
In s o m e q u a r te r s th e w e a k n e ss w as
c o n s i d e r e d t h e n a t u r a l o u t c o m e o f t h e s e a s o n a b le g r o w t h
o f b e a r is h s e n t i m e n t .
T h is w a s fo s te r e d b y th e e x c e lle n t
w e a t h e r p r e v a i l i n g in b o t h w i n t e r a n d s p r i n g - w h e a t t e r r i
t o r y a t t h e b e g in n in g o f th e w e e k .
I t w a s d r y a n d h o t in
t h e S o u t h w e s t , w h e re h a r v e s tin g a n d th r e s h in g w e re m a k in g
h ig h ly
s a tis fa c to r y
p rogress.
A d v ic e s
fro m
a u th e n tic
so u r c e s s u g g e s te d t h a t th e y ie ld a n d q u a lit y w e re tu r n in g o u t
ra th e r b e tte r th a n e x p e c te d .
In s o m e c a s e s t h e g r a i n w a s
s u r p r is i n g ly d r y a n d h e a v y .
O w i n g t o it s fin e c o n d i t i o n ,
s e lle r s f o r t h e d e c lin e a r g u e d t h a t a la r g e p e r c e n t a g e o f it
w o u ld b e fit t o d e l i v e r o n J u ly c o n t r a c t s .
T h is n a t u r a lly
le d to fre e s e lli n g o f J u ly a n d d i s t a n t c o n t r a c t s
in s p e c u
l a t i v e m a r k e t s a n d e s p e c i a l l y in t h e W e s t .
S m a ll w o n d e r
t h a t p r ic e s f o r c a s h w h e a t b r o k e r a p i d l y t o w a r d a n e w - c r o p
b a s i s , a n d e s p e c i a l l y in t h e i n s t a n c e o f s o f t r e d w i n t e r in
W e s te r n a n d S o u th w estern m a r k e ts .
T h i s , a s a lr e a d y in t i
m a t e d , a p p e a r e d i n e v i t a b l e in p a s s i n g f r o m t h e o l d t o t h e
n e w b a s i s , a n d p a r t i c u l a r l y a f t e r t h e u n p r e c e d e n t e d l y h ig h
o r f a m in e p r ic e s t h a t h a d b e e n c u r r e n t in S t . L o u i s , K a n s a s
C i t y , & c ., fo r s e v e r a l w e e k s .
W ith N o . 2 red a lm o s t u n
o b t a i n a b l e a t !$1 6 0 t o $1 6 5 , p r a c t i c a l l y a ll o f J u n e in s e v e r a l
W e s t e r n m a r k e t s , i t w a s o n l y r e a s o n a b le t o c o u n t o n r a p id
a n d m a t e r i a l d e c lin e s a s s o o n a s n e w b e g a n t o a r r i v e . B e a r
D A IL Y CLOSIN G P R IC E S OF W H E A T F U T U R E S IN NEW Y O R K .
N o. 2 red winter......... ...........f.o b
July delivery In elevator____
Septem ber delivery in elevator
Decem ber delivery In elevator
S a t.
M on.
T u es.
W ed . T h u rs. F r i.
145
145
145
145
122 % 123 ?* 123J* 125J*
Holl- Holl- 1 1 5 % 116 % 1 1 6 ?* 118**
day. day. 113 % 115 % 115
116?*
D A IL Y CLOSING P R IC E S OF W H E A T F U T U R E S IN CH IC A O O .
July delivery In elevator__________
Septem ber delivery in e le v a to r ___ ITolIDecem ber delivery In elevator____day.
Market
opcnod
Futures.
tra d e r s t o o k a d v a n t a g e o f th e o p p o r t u n it y to h a m m e r th e
m a rk e t.
In
d o in g
so
th e y
o v e r s o ld
and
s u b s e q u e n tly
w h e n t h e y a t t e m p t e d t o c o v e r t h e y f o u n d o f f e r in g s l i g h t ,
a n d a p a r t ia l r e c o v e r y e n s u e d . B u y i n g w a s s t i m u l a t e d b y
p o o r c r o p p r o s p e c t s in H u n g a r y a n d A r g e n t i n a a n d b y e x c e s
s i v e r a in s a t t h e W e s t a n d S o u t h w e s t , w h e r e n u m e r o u s
s t r e a m s a n d r i v e r s o v e r f l o w e d a n d f lo o d e d t h o u s a n d s o f
a c r e s o f g r a in in b o t t o m l a n d s .
I n s o m e p la c e s th e w h e a t ,
o a t s , & c ., b e c a m e lo d g e d , a n d h e n c e d e te r io r a tio n w as
fe a r e d .
In a n y case h a r v e stin g w a s d e la y e d .
D e m a n d w as
a ls o q u i c k e n e d b y t h e m o n t h l y r e p o r t o f t h e D e p a r t m e n t
o f A g r i c u l t u r e , w h i c h s h o w e d a d e c lin e in s p r i n g - w h e a t
c o n d i t i o n i n s t e a d o f a n i m p r o v e m e n t , w h ile f a r m r e s e r v e s
w e re p la c e d a t o n ly 1 5 ,0 6 2 ,0 0 0 b u s h e ls , o r th e s m a lle s t o n
record .
T o - d a y p ric e s w e re s tr o n g e r a n d e s p e c ia lly o n J u ly
c o n t r a c t s , w h i c h r o s e s h a r p l y a n d n o t a b l y in t h e N o r t h w e s t ,
w h e re th e r e w a s r e c e n tly a b e tte r e x p o r t d e m a n d fo r b o t h
o ld a n d n e w s p r in g ; a n d it w a s sa id t h a t o v e r 5 0 0 ,0 0 0 b u s h
e ls h a d b e e n b o o k e d l a t e l y
F rid a y.
Quiet.
Mid. Upl’ds
Sales........
Spec.&exp.
Thursday.
113
M on.
T u es.
W ed . T h u rs. F r i.
1 1 5 % 114 % 115 % 1 17 %
Holl- 107?* 109!-* 109 % 110 %
d a y. 106?* 107?* 107?* 108?*
C o rn h a s d e c lin e d . T h e n e a r -b y d e liv e r ie s , n o t a b ly J u ly ,
h a v e w e a k e n e d m o re r a p id ly th a n th e d is ta n t c o n tr a c ts .
C o n s e r v a t i v e d e a l e r s h a d lo n g c o n t e n d e d t h a t J u l y w a s a t
to o b ig a p r e m iu m .
T h e i n c r e a s e d p r e s s u r e t o s e ll J u ly w a s
l a r g e l y c h a r g e a b l e t o la r g e r r e c e ip t s a t p r i m a r y p o i n t s a n d
r e p o r t s o f i n c r e a s i n g d e li v e r i e s b y f a r m e r s a t c o u n t r y s t a
tio n s.
T h e g e n e r a l d e c lin e w a s a s c r i b e d t o f a v o r a b l e w e a t h e r
in t h e c o r n b e l t a n d t o t h e b e l i e f t h a t t h e c r o p r e p o r t o f t h e
D e p a r t m e n t o f A g r i c u l t u r e w o u ld b e f a v o r a b l e .
It w as e x
p e c te d t h a t b o t h t h e a c re a g e a n d c o n d itio n w o u ld b o b e t t e r
th a n a y e a r a g o .
T h e r e p o rt p r o v e d to b e a b o u t a s a n t ic i
p a te d .
S t i l l , t h e m a r k e t h a s b e e n f ir m e r s in c e it a p p e a r e d ,
p a r t l y b e c a u s e o f e x c e s s i v e r a in a n d f lo o d s in t h e S o u t h w e s t .
T h e n , t o o , r e c e ip t s h a v e n o t i n c r e a s e d , a s e x p e c t e d , w h il e
th e r e w a s a b e t t e r e x p o r t d e m a n d fo r n e w fo r d e liv e r ie s
D e c e m b e r to M a r c h .
T o - d a y J u l y in C h ic a g o a d v a n c e d
2%c., a n d i t is a s s e r t e d t h a t s h o r t s e lle r s h a d b e c o m e a l a r m e d
b y th e s c a r c ity o f c o n tr a c t g r a d e s.
D A IL Y CLOSING P R IC E S OF NO. 2 M IX E D
_ ,
Sat. M o n .
Cash c o m — — ......... ........ .............
July delivery in e le v a to r,................HollHollSeptember delivery In elevator____ day.
d a y.
December delivery In elevator____
CORN IN NEW Y O R K .
T u es.
W e d . T h u rs. F r i.
78?* 78?*
74?* 76
72 % 72 ?*
(js j* 65?*
78
76?*
72
65?*
78!*
77?*
73 ■*
66?*
D A IL Y CLOSING PR ICE S OF CORN F U T U R E S IN CHICAGO.
„
. .
,
S a t.
M o n . T u es. W ed. T h u rs. F r i.
July delivery In elevator__________
67
67?* 69?*
72
September delivery In elevator____HollHoll- 64
64 ?*
64 %
6 6 'i«
December delivery In elevator____day.
day. 85?* 5 6 '
55 J*
56?*
O a t s h a v e a ls o d e c lin e d t o a n a p p r e c i a b l y lo w e r p l a n e .
T h i s w a s m o r e e s p e c i a l l y t r u e o f c a s h p r i c e s , w h ic h f e l l in a
s ta r tlin g m a n n e r .
W e a k n e s s h a d b e e n e x p e c t e d d u r in g th e
tr a n s itio n fr o m t h e o ld to th e n e w -c r o p b a s is .
W i t h o ld
o a t s u n u s u a l l y h i g h ,o w i n g t o s c a r c i t y , w h ile t h e o u t l o o k f o r
th e n e w c ro p w a s u n c o m m o n ly b r ig h t , it w a s c o n sid e re d
r e a s o n a b le t o c o u n t o n a b i g b r e a k in p r ic e s s o o n a f t e r h a r
v e stin g h a d b e g u n .
G e n e r a l s e l l i n g w a s a ls o p a r t l y s t i m u
la t e d b y t h e e x p e c t a t i o n o f a h i g h l y f a v o r a b l e o f f i c i a l c r o p
re p o rt.
T h is d o c u m e n t p r o v e d t o b e a lm o s t as s a tis fa c to r y
as e x p e c t e d , a n d s u g g e s te d o n e o f th e b ig g e s t cro p s o n r e c o r d .
T o - d a y p r ic e s r e a c t e d s h a r p l y , a n d e s p e c i a l l y c a s h a n d J u l y ,
w h ic h w e r e in b e t t e r d e m a n d .
D A IL Y CLOSING PR IC E S OF O A TS I N NEW YO RK .
S a t.
N o. 2 w hite................
♦W hite clipped,34 to Holl36 lbs____________ day.
M on.
T u es.
W ed .
T h u rs.
F ri.
59-60 57?*-58
57J*-5S
Hollday. 58-60 57?*-58?* 57 ?*-58 J*
58-59
59
D A IL Y CLOSING P R IC E S OF OATS F U T U R E S IN CH ICAOO.
S a t.
July delivery'In elevator__________
Septem ber delivery In elevator____HollDecember delivery In elevator____ day.
M on.
Hollday.
T u es.
47?*
41?*
41?*
W ed . T h u rs. F r i.
47J* 4 8 '*
42?* 42?*
43?* 42 K
50?*
43
43?*
T h e f o l l o w i n g a r c c l o s i n g q u o t a t i o n s ::
FLOU R.
W inter, low grades____ $ 4 50 @$4 75 Kansas straights______ J5
Winter patents__________ 6 S o® 7 15 Kansas clears ................ 5
Winter straights_______ 6 5 0 ® 6 60 City patents___________ 6
Winter clear___________ 5 2 5 @ 5 00 Rye (lour, bids......... ...... 4
Spring patent____________6 15® 6 70 Graham flour__________ 4
Spring straights________ 5 50@ 5 80 Corn meal, kiln dried__ 3
Spring clea rs__________ 5 2 3 @ 5 60
7 5 @ J 6 00
00@ 5 50
7 5® 7 00
50 ® 4 90
15® 4 40
T 5 ® ____
W heat, per bush.—
Cents. Corn, per bush.—
Cents.
N. Duluth. No. 1_____
137
No. 2 m ixed__________ elev. 78?*
N. Duluth, No. 2 .........
134?*
No. 2 yellow --------f.o .b . Nominal
Red winter. No. 2 ___'..f .o .b . 145
• No. 2 w h it e _____ f.o .b . Nominal
Hard "
“
-------135
R ye, per bush.—
Oats, per b ush.—
No. 2 W estern________ f.o.b. 90?*
Nat white, 26 to 28 lb s ... 54 ?*® 56
State and Jersey______ Nominal
57 Barley— M a ltin g________ Nominal
Mixed. 2 6 1 >32 lbs.......... ..
Wh. cllp ’d 34 t 36 lbs. ..5 8
® 59
Feeding, c. 1. t. N Y . . 6 8 ® 70
For other tables usually given here, see page 84.
A G R IC U L T U R A L
D E P A R T M E N T ’S
REPORT
ON
C E R E A L C R O P S , & c ., T O . J U L Y
1 .— T h e A g r ic u ltu r a l
D e p a r t m e n t is s u e d o n t h e 8 t h i n s t . i t s r e p o r t o n t h e c e r e a l
c r o p s fo r th e m o n t h o f J u n e a s fo llo w s :
The Crop Reporting Board of the Bureau of Statistics of the United Suites
Department of Agriculture estimates, from the reports of the oarrospomlents and agents of the Bureau, as follows:
T H E
114:
The preliminary estimate of the area of CORN planted Is 109.006,000
acres, an increase of 7,218,000 acres (7.1% ) as compared with the linal
estimate of last year’s acreage.
The average condition of the CORN crop on July 1 was 89.,‘5, as com
pared with 8 2 . 8 on July 1 1908, 80.2 on July 1 1907 and 84.8 the ten-year
average on July 1.
The average condition of W IN T E R W H E A T on July 1, or when har
vested, was 82.4, as compared with 80.7 last month, 80.6 at harvest 1908,
78.8 in 1907, and 79.6, the average at time of harvest for the past ten years
The average condition of S P R IN G W H E A T on July 1 was 92.7, as
com pared with 95.2 last m onth. 89.4 on July 1 1908, 87.2 on July 1 1907,
and 87.0, the ten-year average on July 1.
The average condition on July 1 of S P R IN G AND W IN T E R W H E A T
com bined was 86.5, against 86.5 last m onth, 83.9 on July 1 1908, 81.6 on
July l 1907, and 82.5, the ten-year average.
The am ount of wheat remaining on farms Is estimated at 2 .3 % of last
year’s crop, or about 15,062,000 bushels, as com pared With 33,707,000
on July 1 1908 and 43,608,000, the average am ount on farms on July 1 for
the past ten years.
The average condition o f the OATS crop on July 1 was 88.3, as compared
with 88.7 last m onth, 85.7 July t 1908, 81.0 July 1 1907, and 86.8, the
ten-year average on July 1.
The average condition of B A R L E Y on July 1 was 90.2, as compared
with 90.6 last m onth, 86.2 on July 1 1908, 84.4 on July 1 1907, and 88.3,
the ten-year averacg on July 1.
The average condition of R Y E on July 1 was 91.4, as compared with
89.6 last m onth. 91.2 on July 1 1908. 89.7 on July 1 1907, and 89.8, the
ten-year average on July 1.
The acreage of W H IT E P O TA TO E S is estim ated a t 3,452,000 acres, or
195,000 acres (6 .0 % ) more than last year. The condition of the crop on
J uly l was 93.0, as com pared w ith 89.6 on July 1 1908, 90.2 on July L
1907, and 91.0, the ten-year average on July 1.
The acreage o f TOBACCO is estimated at 1,108,336 acres, or 232,911
acres (2 6.6 % ) more than last year. The condition o f the crop on July l
was 89.8, as com pared with 86.6 on July 1 1908, 81.3 on July 1 1907, and
85.7, the ten-year average on July 1.
The acreage of F L A X is estim ated at 2,741,000 acres, or 62,000 acres
(2 .3 % ) more than last year. The condition o f the crop on July l was
95.1, as com pared with 92.5 on July L 1908, 91.2 on July 1 1907, 93.2 on
July t 1906, and 90.4, the average on July 1 for six years.
The average condition of the H A Y crop on July 1 was 87.8, as compared
with 87.6 last m onth, 92.6 on July 1 1908, and approxim ately 82.0 on
July l 1907. The condition of T IM O T H Y on July 1 was 87.1, as compared
with 90.2 on July l 1908, 82.2 on July 1 1907, anti 85.1, the ton-year
average on July t. The condition of C L O V E R on July 1 was 83.8, as
compared with 95.5 on July 1 1908, 76.4 on July 1 1907, and 83.8, the
ten-year average on July 1.
The condition o f the A PPLE crop on July 1 was 54.6, as compared with
61.4 last mouth, 57.6 on July l 1908. and 62.3, the ten-year average on
J u ly l .
^ _________
T H E
D R Y
G O O D S
T R A D E .
New York, Friday Night, July
9 1909.
F u r t h e r a d v a n c e s in t h e s t a p l e h a v e b e e n t h e d o m i n a t i n g
f a c t o r in t h e c o t t o n - g o o d s s i t u a t i o n d u r i n g t h e p a s t w e e k ,
a n d n a t u r a l l y h a v e c a u s e d i n c r e a s e d f ir m n e s s in b o t l i p r i m a r y
and seco n d a ry m a rk e ts.
A d d i t i o n a l lin e s o f c o t t o n s w e re
w i t h d r a w n p e n d i n g a r e v i s i o n o f p r i c e s , w h il e o n o t h e r s , s u c h
us lig h t -w e ig h t fla n n e ls , d e n i m s , c e r ta in s h e e t in g s , h e a v y
w e ig h t s , & c ., n e w p r ic e s , s h o w in g a d v a n c e s r a n g in g fr o m
J^jc. t o J ^ c . a y a r d , w e r e n a m e d , a t w h i c h s e lle r s w e r e w ill in g
to b o o k o r d e r s fo r m o d e r a te q u a n t it ie s .
A s a r u le , h o w e v e r,
p r ic e s a r e s t i l l b e l o w a p a r i t y w i t h t h e p r e s e n t l e v e l o f ra w
m a t e r i a l, a n d f u r t h e r r e v is io n s u p w a r d are e x p e c t e d .
W ith
t h e in c r e a s e d p r o s p e c t o f b e i n g o b l i g e d t o p a y o n t h e b a s is
o f 1 2 c . f o r t h e i r s u p p l i e s o f c o t t o n , m ills h a v e s h o w n g r e a t e r
h e s i t a n c y in a c c e p t i n g f u t u r e b u s i n e s s , a n d a r e n o t d is p o s e d
to q u o t e f r e e ly fo r g o o d s to b o d e liv e r e d b e y o n d th e s u m m e r
m o n t h s ; in f a c t , n o t a f e w s e lli n g a g e n t s h a v e b e e n in s t r u c t e d
t o p u r s u e a w a i t i n g p o l i c y w i t h r e g a r d t o f o r w a r d b u s in e s s
u n t i l t h e r a w - m a t e r i a l o u t l o o k b e c o m e s c le a r e r .
P r a c tic a lly
th e s a m e c o n d i t i o n s a r e f o r c i n g s e c o n d a r y m a r k e t f a c t o r s
t o p r o c e e d c a u t i o u s l y ; m e r c h a n t s , t o o , a r e c o m p e l l e d to
o p e r a t e c o n s e r v a t i v e l y , f o r w h il e t h e y q u i t e g e n e r a l l y r e a liz e
t h a t p r ic e s a r c t e n d i n g h i g h e r , t h e r e is m o r e o r le s s d o u b t
t h a t t h e y w ill b e a b le t o s e c u r e a d v a n c e s w h i c h i t w ill b e
n e c e s s a r y t o a s k ; i n o t h e r w o r d s , t h e y a r e w a i t i n g u n t i l i t is
m o r e c l e a r l y d e t e r m i n e d w h a t t h e c o n s u m p t i v e d e m a n d is
lik e ly to b o .
O n th e o th e r h a n d , s o m e b u y e rs h a v e o p e ra te d
q u ite e x t e n s iv e ly o n m e r c h a n d ise fo r s p r in g , b u t th e y a p p e a r
to b e in t h e m i n o r i t y .
D e m a n d f o r s p o t c o t t o n s lia s i n
c r e a s e d , a n d s u p p l i e s a v a i l a b l e a t a t t r a c t i v e p r ic e s h a v e b e e n
r e a d ily t a k e n b y jo b b e r s ; th e la t t e r h a v e e n jo y e d a m o d e r a te
tr a d e in o d d lo ts o f d o m e s tic s fo r im m e d ia t e a n d n e a r -b y
d e l i v e r y , a n d h a v e a d v a n c e d v a r i o u s lin e s o f b r o w n a n d
o th e r c o tto n s .
T h e m a r k e t fo r k n it g o o d s a n d h o s ie r y h a s
b e e n a c t i v e , o w i n g t o t h e p r e s e n c e o f m a n y b u y e r s f r o m a ll
s e c t i o n s , w h o h a v e o p e r a t e d f r e e l y o n f a l l li n e s ; s o m e lin o s
o f c o tto n k n it g o o d s sh o w a d v a n c e s o f 5 % , b u t th e s e , as
w e ll a s t h e r e c e n t u p w a r d r e v i s io n o f s t a p l e h o s i e r y , d o n o t
a p p e a r to iia v e c h e c k e d th e d e m a n d .
E x p o r t t r a d e is p r a c
t i c a l l y a t a s t a n d s t i l l , o w i n g t o t h e h i g h e r p r ic e s a s k e d . D u r
in g t h e w e e k le a d i n g s t a p l e d r e s s -g o o d s f o r s p r i n g , 1 9 1 0 ,
w e r e o p e n e d , a n d , a s e x p e c t e d , p r ic e s w e r e m a t e r i a l l y a d
v a n c e d ; a g o o d in it i a l b u s i n e s s , n e v e r t h e l e s s , w a s r e p o r t e d
don e.
I n m e n ’ s w e a r , a d d i t i o n a l lin e s o f p la in a n d f a n c y
w e a v e s u i t i n g s w e r e o p e n e d , b u t t h e m a r k e t a s a w h o le h a s
b e e n c o m p a r a t iv e ly q u i e t , a t t r ib u t e d p a r tly to t h e f a c t t h a t
m o s t o f t h e in itia l b u s in e s s o n s t a p le s , w h ic h w a s e x c e p
t i o n a l l y l a r g e , Iras b e e n p l a c e d .
D O M E S T I C C O T T O N G O O D S .— T h e e x p o rts o f c o tto n
g o o d s f r o m t h i s p o r t f o r t h e w e e k e n d i n g J u ly 3 w e r e 5 , 2 2 7
p a c k a g e s , v a l u e d a t $ 2 6 4 , 6 0 4 , t h e i r d e s t i n a t i o n b e in g , t o t h e
p o i n t s s p e c i fi e d in t h e t a b l e b e l o w :
W eek .
AYto Y o r k to J u l y 3 -(Treat Britain ...........
2
7
Other E urop e........... C h in a -............................
I n d i a ............. - .......... ..
A ra b ia ........................ ....
A f r i c a ........................
_________________ 032
W est I n d ie s ........... - - - -------------------------- 754
M exico
.
...........
Central America
South A m e r ic a -..____ ------------------ 952
Other countries — — _________________ 666
Total.. ...................... .. ............................... 5 227
1909--------S in ce
J a n . 1.
002
056
103 194
8 700
17 070
7 180
20 697
887
7 542
26.474
9 519
202 521
-------- .1908--------W eek .
• 17
0
[VOL. LXXXIX
C H R O N IC L E
S in ce
157
838
36
260
449
116
432
506
182
160
074
760
854
948
7 840
20 936
9 591
1 879
91 283
U
5
16
3
1l
T h e v a l u e o f t h e s e N e w Y o r k e x p o r t s s in c e J a n . 1 h a s b e e n
$ 1 1 , 1 2 5 , 5 5 4 in 1 9 0 9 , a g a i n s t $ 5 , 9 4 0 , 7 1 in 1 9 0 8 .
L e a d in g tic k e t e d lin e s o f b le a c h e d g o o d s c o n tin u e to b e
h e l d a t v a l u e , a n d n e w p r ic e s a r e e x p e c t e d t o b o a n n o u n c e d
w i t h i n t h e n e x t f e w c la y s ; fin e b l e a c h e d g o o d s h a v e a l r e a d y
b e e n a d v a n c e d }4c. a y a r d , w i t h o u t a p p a r e n t l y c u r t a i li n g
t h e d e m a n d ; m o s t o f t h e p r i n c ip a l t i c k e t s a r e w e ll s o l d u p in t o
th e e a r ly fa ll.
S t a p l e p r i n t s h a v e b e e n in g o o d r e q u e s t , w i t h
f u r t h e r s u b s t a n t ia l b u s in e s s p u t t h r o u g h ; p r ic e s r e m a in u n
ch an g ed b u t a d v a n c e s are e x p e c te d a t a n y tim e .
T h e c a ll
f o r s ta p le g in g h a m s h a s b e e n w e ll m a in t a in e d , n u m e r o u s o r
d e r s b e i n g b o o k e d a t v a l u e , a n d c o n s i d e r a b le i n t e r e s t is b e
in g s h o w n in d r e s s g in g h a m s f o r s p r in g .
B row n co tto n s,
e s p e c ia lly s h e e t in g s , a r e fir m e r , w ith a d v a n c e s o f fr o m J ^c.
t o lie . a y a r d n o t e d .
D e n i m s a n d t i c k i n g s h a v e a ls o b e e n
a d v a n c e d f r o m J ^ c . t o y2c . a y a r d . N o t h i n g h a s b e e n d o n e
i n t h e e x p o r t d i v i s i o n , a s b u y e r s a n d s e lle r s a r e a p a r t in t h e i r
v i e w s ; s e lle r s a r e a s k i n g p r i c e s f u l l y J ^ c . t o H e .h i g h e r t h a n a
f o r t n i g h t a g o o n g r a y g o o d s , a n d f r o m He. t o j j c . m o r e o n
c o lo r e d c o t t o n s f o r e x p o r t , a n d b u y e r s h a v e n o t s h o w n a
d is p o s itio n to m e e t s a m e .
P r in t c lo th s h a v e
c o n t i n u e d in
g o o d r e q u e s t a n d v e r y fir m , w it h o n ly a m o d e r a t e a m o u n t o f
b u s i n e s s d o n e , o w i n g t o t h e a t t i t u d e o f t h e m i l l s ; r e g u la r s
r e m a i n u n c h a n g e d a t 3 7 - 1 6 c . a n d s t a n d a r d w id e g o o d s a t 5 c .
W O O L E N G O O D S .— D u rin g th e w e e k le a d in g p ro d u cers
o f s t a p l e d r e s s g o o d s o p e n e d lin e s f o r s p r i n g , 1 9 1 0 , a t s u b
s t a n t ia l a d v a n c e s o v e r la s t s e a s o n , r a n g in g in s o m e in s ta n c e s
f r o m 3}4c. to 7 c . a y a r d .
G o o d in itia l o r d e r s w e re r e c e iv e d
fr o m jo b b e r s a n d c u tte r s .
T h e a d v a n c e s n a m e d , i t is s a i d ,
d o n o t f u l l y r e f le c t t h e i n c r e a s e d c o s t o f r a w m a t e r i a l , a n d
in d ic a tio n s p o in t to a fu r th e r r e a d ju s t m e n t u p w a r d .
A d d i
tio n a l o r d e rs o n w o r ste d s fo r f a ll h a v e b e e n r e c e iv e d , th e
dem and
a g a in
r u n n in g
la r g e ly
to
u n fin is h e d
w o rste d s.
T r a d e i n m e n ’ s w e a r li a s b e e n c o m p a r a t i v e l y q u i e t , b u t t h e
s it u a tio n a n d o u t lo o k a re c o n s id e r e d s t a is fa c t o r y , o w in g to
t h e la r g o in it i a l b u s i n e s s a l r e a d y d o n e , e s p e c i a l l y o n s e r g e s ;
le a d in g p r o d u c e r s o f th e la t t e r h a v e s u ffic ie n t c o n tr a c ts to
o c c u p y th e ir fu ll c a p a c ity fo r s o m e t im e .
A d d i t i o n a l lin e s
o f p la in a n d f a n c y w o r s t e d s s u i t i n g s h a v e b e e n o p e n e d , b u t
b u y e r s h a v e n o t y e t s h o w n m u c h i n t e r e s t in t h e s e .
F O R E I G N D R Y G O O D S .— F o r e ig n w o o le n a n d w o rste d
g o o d s h a v e c o n t in u e d in fa ir r e q u e s t .
D e m a n d f o r lin e n s
h a s i n c r e a s e d , if a n y t h i n g , a la r g e v o l u m e o f b u s i n e s s o n
d r e s s a n d h o u s e k e e p in g lin e n s fo r fo r w a r d d e li v e r y h a v in g
b e e n d o n e b y im p o r te r s a n d jo b b e r s , a n d f u r t h e r r e q u e s ts
h a v e b e e n r e c e iv e d fo r p r o m p t s h ip m e n t s o f g o o d s a lr e a d y
u n d e r o r d e r ; p r ic e s c o n t i n u e v e r y s t r o n g .
T h e b u r la p m a r
k e t h a s b e e n e r r a tic a n d u n s e t t le d , b u t q u o t a t io n s a t th e
w e e k -e n d w e re a b o u t u n c h a n g e d .
Im p o r ta tio n s
and
W areh o u se
W ith d r a w a ls
of D ry
G ood s.
T h e im p o r t a t io n s a n d w a r e h o u s e w ith d r a w a ls o f d r y g o o d s
a t t h i s p o r t f o r t h e w e e k e n d i n g J u l y 3 1 9 0 9 a n d s in c e
J a n . 1 1 9 0 9 , a n d fo r th e c o r r e s p o n d in g p e r io d s o f la s t y e a r
a r e a s fo llo w s :
J uly 14) 1901). j
T H E
C H R O N IC L E
1 1 5
G R A N D TO T A L S B Y BOROU GH S.
8w
...G
e
tty j d t f r m
m
m
,
MUNICIPAL BOND SALES IN JUNE.
I n c o m p ilin g o u r u s u a l m o n t h ly ta b le o f m u n ic ip a l b o n d
s a l e s , w e fin d t h a t t h e s e c u r i t i e s d i s p o s e d o f in J u n e a m o u n t e d
t o $ 0 0 ,9 8 ( 5 , 0 3 3 .
th e
next
w hen
of
th e
of
Y ork
th e se
C ity .
$ 5 0 ,0 0 0 ,0 0 0
m ade
of
$ 6 0 ,9 1 4 ,1 7 4 .
t o ta ls
re p rese n ts
F ebru ary
w h il e
in
la r g e
o ffe r in g s
1908
la s t
F ebru ary
A
th e
m o n th ’s
1908,
p o r tio n
m ade
sa le s
by
in c l u d e d
to ta l
th ere
are
L a s t m o n t h $ 4 0 ,0 0 0 ,0 0 0 4s w ere so ld o n a
3 .9 6 @ 3 .9 8 % .
la s t
b e e n r e p o r t e d in
w as
In
4 j^ js ,
$ 4 0 ,0 0 0 ,0 0 0 4 s .
b a s is
h a v in g
a g g re g a te
b o th
N ew
T h i s is t h e l a r g e s t m o n t h l y t o t a l o n r e c o r d ,
h ig h e st
m o n th
th e
r e a liz e d b y th is c i t y :
On
a ll o f
p r ic e s
w ere
th e
fo llo w in g
m uch
b e tte r
la r g e s a l e s
th a n
th o se
$ 3 0 0 ,0 0 0 4s o f A lt o o n a , P a . ( 3 .8 0 8 %
b a s is ), $ 5 0 0 ,0 0 0 4s o f A lle g h e n y C o u n t y , P a . ( 3 .8 5 7 % b a s is ) ,
$ 3 0 0 ,0 0 0
3^<fs o f N e w
M ercer C o u n t y , P a .
C o u n ty ,
Pa.
( p a r ), $ 3 6 0 ,0 0 0
T em p orary
4s o f
4s o f W e s tm o r e la n d
( 1 0 1 .2 3 1 ) , a n d $ 4 4 0 ,0 0 0
N . J . ( 3 .8 7 8 %
$ 4 ,4 7 7 ,8 0 8 .
B e d fo r d , M a ss,
( 1 0 0 .8 9 ) , $ 5 0 0 ,0 0 0
4s
of
E ssex
C o u n ty ,
b a s is ).
lo a n s
n e g o tia te d
la s t
T h e C a n a d i a n is s u e s
m o n th
flo a te d
a m o u n te d
in
to
June and n ot
i n c l u d e d in t h e a b o v e r e a c h e d a t o t a l o f $ 2 , 0 1 8 , 5 7 7 .
T h e n u m b e r o f m u n i c i p a l i t i e s is s u i n g b o n d s a n d t h e n u m
b e r o f s e p a r a t e is s u e s m a d e d u r i n g J u n e 1 9 0 9 w e r e 2 9 7 a n d
5 1 3 r e s p e c tiv e ly .
T h is c o n tr a s ts w ith 2 0 4 a n d 3 3 3 fo r M a y
1 9 0 9 a n d 3 3 4 a n d 4 0 9 fo r Ju n e 1 9 0 8 .
For
c o m p a r a tiv e
sh o w in g th e
se r ie s o f y e a r s .
is s u e s b y
p u rp oses
we
M o n th of
■June.
th e
fo llo w in g
th e s ix
ta b le
m o n th s fo r a
In t h e s e fig u r e s t e m p o r a r y lo a n s a n d b o n d
C a n a d ia n
m u n ic ip a litie s are e x c lu d e d .
M o n th o f
J u n e.
F o r the
S ix M o n th s.
$60,986,033 $203,373,899 1900 .
$19,670,126
1909
. 29,348,742
1908 . . . . 31,606,064 169,082,579 1899 .
9,704,925
1907
. . . 21,390,486 115,347,889 1898
. 16,385,005
1906 . _
- 21,686,622 102,338,245 1897 .
1905
. . . 19,016,754 111,723,054 1896
12,792,308
1904 . , . . . . 24,425,909 137,869,155 1895 . . . 15,907,441
79,576,434 1894. . . . . 16,359,377
1903__
87,628,395 1893
..
1,888,935
1902 . _ . . . 28,417,172
. . 13,468,098
01,223,060 1892 ___ . 12,249,000
1901
O w in g to th e c r o w d e d
F o r the
S i x M o n th s.
$77,943,605
63,345,376
44,078,547
73,275,377
43,176,964
56,991,613
66,426,992
32,663,115
49,093,29 1
c o n d itio n o f o u r c o lu m n s , w e are
o b l i g e d t o o m i t t h is w e e k t h e c u s t o m a r y t a b l e s h o w i n g t h e
m o n t h ’ s b o n d s a l e s in d e t a i l .
I t w ill b e g i v e n l a t e r .
News Items.
A l a b a m a . — -Special Session of Legislature.— I t is s t a t e d
t h a t t h e L e g i s l a t u r e w ill c o n v e n e in s p e c ia l s e s s io n o n J u l y 2 7
t o c o n s i d e r le g i s la t i o n t o s t r e n g t h e n t h e li q u o r l a w s .
N ew
Y ork
O i t y . — Assessed
Valuations for 1 9 0 9 . — T h e
B o a r d o f T a x C o m m is s io n e r s o n J u ly 0 s e n t to th e B o a r d o f
A l d e r m e n f o r t h e i r a p p r o v a l t h e a s s e s s m e n t r o lls o f r e a l
e sta te a n d p e rso n a l p r o p e r ty fo r 1 9 0 9 .
T h e to ta l assessed
v a l u a t i o n f o r t h e f i v e b o r o u g h s o f t h e c i t y is $ 7 , 2 5 0 , 5 0 0 , 5 5 9 ,
o f w h ic h $ 0 , 8 0 7 , 1 7 9 , 7 0 4 c o n s i s t s o f r e a l e s t a t e ( i n c lu d i n g
$ 7 5 , 8 2 5 , 4 2 5 r e a l e s t a t e o f c o r p o r a t i o n s .a n d $ 4 7 4 , 0 0 1 , 9 0 0
s p e c ia l fr a n c h is e a s s e s s m e n t s ) a n d $ 4 4 3 ,3 2 0 ,8 5 5 in p e r s o n a
p ro p e rty .
T h i s m a k e s a n in c r e a s e o v e r t h e 1 9 0 8 a s s e s s e d
v a lu e s , w h ic h w ere $ 7 ,1 5 8 ,1 9 0 ,4 0 0 , o f $ 9 2 ,3 1 0 ,1 5 9 .
I t is
e s t i m a t e d t h a t t h e t a x r a t e in M a n h a t t a n a n d t h e B r o n x
w ill b e s o m e w h e r e b e t w e e n $ 1 . 6 5 a n d $ 1 . 7 0 o n t h e $ 1 0 0
v a l u a t i o n ; l a s t y e a r it w a s $ 1 . 0 1 4 0 7 .
T h e fo llo w in g t a b le
p r e s e n t s , b y b o r o u g h s , a r e c a p itu la tio n o f th e re a l e s t a t e ,
re a l e s t a t e o f c o r p o r a tio n s a n d s p e c ia l fr a n c h is e a s s e s s m e n t s ,
t h e l a t t e r t w o i t e m s b e in g i n c l u d e d in t h e t o t a l o f r e a l e s t a t e .
REAL ESTATE.
B orou g h s —
1908.
1909.
|Ordinary real estate.$4,584,536,431 $4,614,446,286 Inc. $29,909j355
Manhattan...(Corporation real est.
30,303,800
17.593.400 Dec. 12,710,400
(Special franchises__
346,569,200
334,299.800 Dec. 12,269,400
(Ordinary real estate.
441,228,718
462,704,008 Inc. 21,475,290
Bronx
. ..{Corporation real r'8t.
25,539,725
29,198,325 K e. 3,658,600
{Special franchl f . . .
23,010,300
23.209.400 Dec.
400,900
(Ordinary real estate. 1,334,804,835 1,351,809,840 Inc. 19.945,005
Brooklyn ..{Corporation real est.
20,675,425
16,109,300 Dec. 4,566,125
{Special franchises__
103,900,150
98,976,500 Dec. 4,923,650
(Ordinary real estate.
290,458,980
308,112,605 Inc. 11,653,625
Queens __{Corporation real est.
9,816,300
10,778,750 Inc.
962,450
(Special franchises—
15.902,070
14,876,700 Dec. 1.025,370
(Ordinary real estate.
65,326,825
67,106,965 Inc. 1,780,140
Itlchmond {Corporation real est.
2,089,950
2,145,650 Inc.
55,700
(Special franchises__
2,508,750
2,639,500 Inc.
130,750
W e g i v e h e r e w it h a t a b l e s h o w i n g t h e d i f f e r e n t c la s s e s o f
p e r s o n a l p r o p e r t y , b o th fo r th is y e a r a n d la s t y e a r .
PERSONAL PROPERTY.
Horoughs-
O rdinary
Personal.
P ersonal o f
Estates.
Corporatlon P e i s . -------- N on -R es.P erson a l—
R esident. N on -R es. O rd inary. S a xe Law.
Manhattan . .
$
§
$
$
s
s
1909.......... 130,646,059 75,212,335 66.565,075 29,555,875 25,328,895 4,894,395
1903--------- 138,106,852 75,176,625 53,958,495 26,978,800 28,149,355 5,440,505
Bronx—
1909 ____ 11,594,696
998,505 1,276,060
90,410
1908 .......... 8,965,146 1.202,474 1,372,060
........................................ "
Brooklyn—
1909 __ 07,060.580 10,386.300 6,133,810
598,000
153 500
1908 ....... 65,963,070 10,890.792 5,829,170
009,940
154,600
Queens—
1909 ......... 7,498,875 1,305,350
868,975
................
1908 _____ 7.976,820 1,092,275
839,735
......
.......................
Richmond—
1909 __
1,950,685
857,675
344,800
................
1908_______ 2,117,945
626,272
323,180
.....
....................... I l l
Total 1909.. .213,750,895 88,760,165 75,188,720 30,244,285 25,328,895 5,047 895
Total 1908. ..223,130,333 88,988,438 62,322,040 27.588,740 28,149,355 5,595,105
I n c r e a s e ....... .....................
.......... 12,806,080 2,655,545
.... ................ .......
D ecrea se ____
4,379.4S8
228.273
..........
........... 2,820,400 547.210
Th e B r o n x .
B rook lyn .
Q ueen s.
R ich m on d .
Totals.
1909 ..$332,202,634 S13,959,071 $84,332,190 $9,673,200 $3,153,160 $443,320,855
1908. . 327,810,632 11,539.680 83,448,072 9,908,830 3,067,397 435.774,611
Increa se
D ecrea se
S4,392,002
..............
S2,419,991
...........
$884,118
...........
______
$235,630
$85,763
______
$7,546,244
______
R e p u b l i c o f C u b a .— Bureau of Information Established.—
T h e f o llo w in g n o tic e o f th e e s t a b lis h m e n t o f a B u r e a u o f
I n f o r m a t i o n in t h i s R e p u b l i c h a s b e e n r e c e i v e d f r o m t h e
S e c r e ta r y o f A g r ic u ltu r e , C o m m e r c e a n d L a b o r :
W ith the beginning of the present fiscal year, the R e p u b llco f Cuba estab
lished a Bureau o f Inform ation, President Gomez appointing Leon.J.
C anova, an American newspaper man, who has resided In Cuba eleven
years and has a w ide acquaintance with the Island, as its director.
Parties wishing Information of any nature concerning Cuba can obtain
same, free o f charge, by writing to Leon J-. Canova, U. and I. Bureau
(U tility and Inform ation Bureau), Department o f Agriculture, Commerce
and Labor, Havana, Cuba.
V i r g i n i a - W e s t V i r g i n i a . — Debt Case Adjourned Until Sep
C o u n s e l f o r b o t h o f t h e s e S t a t e s m e t b e f o r e S p e c ia l
M a s t e r L i t t l e f i e l d in R i c h m o n d o n J u l y 1 t o g o o v e r t h e
a m e n d e d s c h e d u le s in t h e d e b t - s e t t l e m e n t s u i t .
V . 88, p.
1267.
T h e s e s s io n a d j o u r n e d o n J u l y 3 .
I t is s a i d t h a t
c o u n s e l f o r b o t h s id e s w ill m e e t in N e w Y o r k C i t y o n S e p t . 2 1
to a r g u e th e c a se o n its m e r its .
tember.—
W a s h i n g t o n .- — Legislature Adjourns Until August.— T h e
L e g i s l a t u r e w h ic h c o n v e n e d in s p e c ia l s e s s i o n o n J u n e 2 3
( V . 8 8 , p . 1 5 1 0 ) t o o k a r e c e s s o n J u l y 2 u n t il 2 p . m . o n A u g .
1 1 , w h e n , it is s a i d , t h e i m p e a c h m e n t tr ia l o f t h e S t a t e
I n s u r a n c e C o m m i s s i o n e r w ill b e g i n .
Bond Calls and Redemptions.
Denver, Colo.— Bond Call.—
The
fo llo w in g
bonds
are
c a ll e d f o r p a y m e n t J u l y 3 1 :
add
a g g re g a te s fo r J u n e a n d
M anha ttan.
STORM S E W E R BONDS.
Sub-D lst. No. 9 of the Capitol Hill Storm Sewer DIst. No. 1, Bond N*. 21South Capitol Hill Storm Sewer DIst., bonds Nos. 37 and 38.
S A N IT A R Y S E W E R BOxNDS.
East Side Sanitary Sewer DIst. No. 1, bonds N os. 56 to 58 inclusive.
IM P R O V E M E N T BON DS.
^
East Denver Im provem ent DIst. N o. 2, bond No. 83.
East Denver Im provem ent DIst. No. 3, bonds Nos. 1 to 39 inclusive.
East Denver Im provem ent DIst. No. 4, bonds Nos. 1 to 22 Inclusive.
Evans Im provem ent DIst., bonds Nos. 33 and 34.
North Side Im provem ent DIst. No. 4, bonds Nos. 1 to 8 Inclusive.
P A V IN G BONDS.
•
Alley Paving DIst. N o. 4, bond No. 21.
Alley Paving DIst. N o. 7, bonds Nos. 1 to 11 inclusive.
Broadway Paving DIst. N o. 3, bonds Nos. 1 to 21 Inclusive.
Lincoln Street Paving DIst. No. 1, bonds Nos. 1 to 20 Inclusive.
C U R B IN G BONDS.
South Side Curbing DIst. No. 2, bonds Nos. 1 to 18 Inclusive.
Upon the request of the holders of any of the above bonds received ten
days before the expiration of this call, the C ity Treasurer will arrange for
their payment at the Mercantile Trust C o., New Y ork C ity; but not oth er
wise.
Bond Proposals and Negotiations this week
Sw ive b a e a a s
follow s ;
Abbeville School District (P. O. Abbeville), So. Caro.—
Bonds Offered bg Bankers.— T h e R o b i n s o n - H u m p h r e y C o .
o f A t l a n t a is
o f f e r in g f o r
sa le
(o p t io n a l) b o n d s o f th is d is t r ic t.
$ 2 0 ,0 0 0
5%
2 0 -4 0 -y e a r
Denomination $500. Date July 1 1909. Interest semi-annually at the
National Park Bank In New York City. Total debt, Including these bonds,
$32,100. Sinking fund $12,270. Assessed valuation 1908, $1,514,894.
Ada, Pontotoc County, Okla.—Bonds Voted and Sold.—
T h i s c i t y , i t is s t a t e d , r e c e n t l y v o t e d t o is s u e $ 1 0 , 0 0 0 s t r e e t im p r o v e m e n t b o n d s.
T h e b o n d s w e r e s u b s e q u e n tly a w a r d e d
to E . D . L u m sd e n o f O k la h o m a C ity a t p a r .
Ahoskie Graded School District (P. O. Ahoskie), No. Oar.
—Bonds Not Sold.— N o a w a r d w a s m a d e o n J u l y 1 o f t h e
$ 8 ,0 0 0 5 %
c o u p o n s c h o o l b o n d s d e s c r ib e d in V . 8 8 , p . 1 6 3 4 .
Albany, Stearns County, Minn.— Bond Offering.—
F u rth e r
d e t a i l s a r e a t h a n d r e l a t i v e t o t h e o f f e r in g o n J u l y 1 2 o f t h e
$ 7 , 0 0 0 5 % c o u p o n l i g h t - p l a n t b o n d s m e n t i o n e d in V . 8 9 ,
p. 57.
P r o p o s a ls w ill b e r e c e iv e d u n t il 8 p . m . o n t h a t d a y
by T l i o s . T o m a s e k , V i l l a g e R e c o r d e r .
Denominations $500 and $1,000. Interest annually on July 16 at the
First State Bank of A lbany. Maturity July 15 1924. Bonds are taxexem pt. Certified check for $100, payable to the village o f A lbany, is
required. Bonded debt at present $4,000. No floating debt. Assessed
valuation, $113,394.
Albert Lea, Minn.— Certificate Sale.— A n i s s u e o f $ 5 0 , 0 0 0
6 % p a v i n g c e r t if i c a t e s w a s s o l d o n J u l y 3 t o t h e C i t i z e n s ’
N a t io n a l B a n k a n d th e F ir s t N a t io n a l B a n k , b o t h o f A lb e r t
L e a , a t p a r a n d a c c r u e d in te r e s t.
T h e re w ore n o o th e r
b id d e r s .
Denomination $500. Date July 1 1909.
turity " o n or before July 1 1911.’ ’
Interest soml-annual.
Ma
Alliance, Stark County, O h i o .— Bond Election.— A u g . 2 1
h a s b e e n d e c id e d u p o n , a c c o r d i n g t o r e p o r t s , f o r t h e h o l d i n g
o f a n e le c tio n fo r th e p u r p o s e o f o b t a in in g t h e o p in io n o f th e
v o t e r s u p o n a p r o p o s i t i o n t o is s u e $ 1 2 0 , 0 0 0 b o n d s .
Alpine School District (P. O. Alpine), Brewster County,
Tex.—Bond Offering.— J . D . J a c k s o n , P r e s i d e n t B o a r d o f
T r u s t e e s , is o f f e r in g a t p r i v a t e s a l e t h e $ 3 0 , 0 0 0 5 %
b o n d s v o te d (V . 8 8 , p . 1 5 1 0 ) on M a y 8 .
b u ild in g
The Issue has been approved by the State A ttorney-General. Interest
semi-annually In New York or Austin at the option o f the holder. Ma
turity 40 years, subject to call after 5 years.
Arlington, Tarrant County, Tex.~Bonds Offered by Bank
ers.— C u t t e r , W a l l e r & M a y o f C h i c a g o a r e o f f e r i n g t o in
v e s t o r s a t 1 0 6 . 5 5 a n d a c c r u e d i n t e r e s t a n is s u e o f $ 2 5 , 0 0 0 5 %
2 0 -4 0 -y c a r (o p tio n a l) se w e r b o n d s .
Denomination $1,000. Date Feb. 1 1909. Interest semi-annually at
the fiscal agency of Texas In New Y ork City. T otal bonded debt, this Issue .
Assessed valuation, $919,216. Real valuation (estim ated). $1,269,M $.
1 1 6
T H E
['VOL. LXXX1X.
C H R O N IC L E
Arlington Heights Independent School District, Tex.—
Bond Sale.— T h e S t a t e S c h o o l F u n d , o f f e r in g p a r a n d in t e r
City, as the purchaser m ay elect. Bonds arc lax free. Certified ohe«k on
an incorporated bank or trust com pany for 2 % of the bonds bid for. pay
able to the City Comptroller Is required.
e s t , w a s t h e s u c c e s s f u l b id d e r f o r $ 2 0 , 0 0 0 5 % 4 0 - y e a r s c h o o l h o u se b o n d s.
T h e y h a v e b e e n re g is te r e d b y th e S t a t e
C o m p tr o lle r .
Bond Issues.— O r d i n a n c e s h a v e b e e n p a s s e d p r o v i d i n g
f o r t h e is s u a n c e o f a $ 4 , 8 7 3 2 8 4 % b o n d a n d a $ 3 7 , 8 6 2 5 6 4 %
bond.
U n d e r t h e t e r m s o f t h e o r d i n a n c e s t h e b o n d s a r e to
b e t a k e n b y t h e C i t y C o m p t r o l l e r a t p a r , t h e f o r m e r is s u e in
t r u s t f o r t h e P e r r y S t r e e t G r a d e C r o s s in g S i n k i n g F u n d a n d
t h e l a t t e r is s u e in t r u s t f o r t h e T a x L o a n F u n d .
D a t e J u ly I.
1909.
B o t h p r i n c ip a l a n d i n t e r e s t a r e p a y a b l e J u l y 1 1 9 1 0
a t th e C ity C o m p tr o lle r ’s o ffic e .
Ashburn, Turner County, Ga.—Bonds Offered by Bankers.
— In t h e i r c ir c u l a r f o r J u n e J . I I . H i l s m a n & C o . o f A t l a n t a
a r e o f f e r in g t o in v e s t o r s $ 4 3 , 0 0 0 5 % w a t e r , li g h t a n d s c h o o l
b o n d s d a te d J a n . 1 1 9 0 9 .
Intorest annually In New York City. Maturity on Jan. t as follows:
$2,000 yearly from 192f> to 1934 Inclusive and $3,000 yearly from 1933 to
1939 Inclusive.
Atlanta, Cass County, Tex.—Bonds Registered.—
T h e $ 1 5 ,
000
1 0 - 4 0 - y e a r ( o p t i o n a l ) w a t e r - w o r k s b o n d s o f fe r e d
w it h o u t su c c e s s o n J u n e 1 ( V . 8 8 , p . 1 4 5 3 ) w e re re g is te r e d
b y t h e S t a t e C o m p tr o lle r o n J u n e 3 0 .
Baltimore, Md.— Bonds Offered by Bankers.— I n a n a d v e r
tis e m e n t o n a p r e c e d in g p a g e L a w r e n c e B a r n u m & C o . a n d
J . S . B a c h e & C o . , b o t h o f N e w Y o r k C i t y , a r e o f f e r in g t o
in v e s to r s $ 1 ,7 5 0 ,0 0 0 4 % re g iste re d s t o c k o f th e c it y o f B a lt i
m ore.
T h e b o n d s o f f e r e d a r e t h e f o u r is s u e s a w a r d e d t o t h e
f ir m s m e n t i o n e d o n M a y 1 7 .
S e e V . 8 8 , p . 1 1 4 8 , fo r d e
s c r ip tio n o f b o n d s .
A s s t a t e d la s t w e e k , t h e c o n d u i t l o a n ,
p a r t o f w h ic h is in c l u d e d in t h i s o f f e r i n g , w a s r e c e n t ly d e
c la r e d v a l i d b y t h e C o u r t o f A p p e a l s .
Balsam, Aitken County, Minn.—Bond Offering.— F u r t h e r
d e ta ils a re a t h a n d r e la tiv e t o th e o ffe r in g o n J u ly 1 9 o f th e
$ 4 , 0 0 0 c o u p o n r o a d a n d b r id g e b o n d s , a t n o t e x c e e d i n g 6 %
i n t e r e s t , g i v e n in V . 8 8 , p . 1 6 3 4 .
P r o p o s a l s w ill b e r e c e iv e d
u n t i l 1 0 a. m . o n t h a t d a y b y t h e T o w n B o a r d .
Denomination $500. Date July t 1009.
Interest semi-annual.
Ma
turlty $500 on July 1 from 1920 to 1927 inclusive. Certified check for
550, payable to the Town Treasurer, Is required. H . J. Heath Is Town
Clerk.
Barstow Drainage District No. 1, Ward County, Tex.—
Bonds Offered to Investors.— C u t t e r , W a l l e r & M a y o f C h i
c a g o a r e o f f e r in g t o i n v e s t o r s $ 5 0 , 0 0 0 5 %
b on d s.
Denomination $500. Date June l 1909. Interest semi-annually at the
fiscal agency o f the State of Texas In New York City. M a tu rity $ 10,000
on June l In each of the following years: 1914, 1919, 1924, 1929 and 1934.
Bonded debt of district $50,000. Assessed valuation $888,711. Heal
value (estimated) $3,000,000.
Bay Township, Ottawa County, Ohio.—Bond Sale.—■
O n J u ly t th e $ 2 ,9 5 0 5 % c o u p o n r o a d -im p r o v e m e n t b o n d s
d e s c r i b e d in V . 8 8 , p . 1 6 3 4 , w e r e s o l d t o S c o t t S t a h l o f P o r t
C lin to n .
B id s w e re a ls o r e c e iv e d fr o m th e S e c u r ity S a v in g s
B a n k A T r u s t C o . o f T o le d o , N e w F ir s t N a tio n a l B a n k o f
C o lu m b u s , F ir s t N a tio n a l B a n k o f C le v e la n d a n d I l a y d e n ,
M ill e r & C o . o f C l e v e l a n d .
M a t u r i t y $ 4 5 0 o n J u ly 1 1 9 1 5
a n d $ 5 0 0 y e a r ly o n J u ly 1 fr o m 1 9 1 6 to 1 9 2 0 in c lu s iv e .
Beeville School District (P. O. Beeville), Bee County, Tex.
—Bond Election.— A n e le c t io n w ill b e h e ld J u ly 13 t o v o t e
u p o n a p r o p o s i t i o n t o is s u e $ 1 0 , 0 0 0 5 %
s c h o o l-b u ild in g b o n d s .
5 -2 0 -y e a r (o p tio n a l)
Bellaire, Antrim County, Mich.— Bond Sale.— W e a r e a d
v i s e d t h a t t h e $ 5 , 8 0 0 5 % c o u p o n e l e c t r i c -l i g h t b o n d s d a t e d
J u n e 1 1 9 0 9 a n d d e s c r i b e d in V . 8 8 , p . 1 1 4 8 , h a v e b e e n
a w a r d e d t o W . A . H a m l i n <fc C o . o f D e t r o i t a t p a r .
Bennettsville, Marlboro County, So. Caro.— Bond Sale.—
A c c o r d i n g t o lo c a l p a p e r s , t h i s t o w n h a s m a d e a r r a n g e m e n t s
f o r t h e s a l e o f a n is s u e o f $ 1 3 , 0 0 0 5 ) ^ % w a t e r -w o r k s a n d
s e w e r a g e -p la n t b o n d s .
I t is f u r t h e r s t a t e d t h a t t h e b o n d s
w ill b e t a k e n b y t h e F i r s t N a t i o n a l B a n k o f C l e v e l a n d ,
O h io , a t p a r .
Cahuenga School District, Los Angeles County, Cal.—
Bond Sale.— L o s A n g e l e s p a p e r s s t a t e t h a t t h i s d i s t r i c t o n
J u n e 2 8 a w a r d e d t h e $ 2 5 , 0 0 0 \X
A % g o ld c o u p o n b o n d s
d e s c r ib e d in V . 8 8 , p . 1 6 3 4 , t o t h e W i n . R . S t a a t s C o . o f
L o s A n g e le s a t 1 0 6 .3 1 4 .
M a t u r it y $ 1 ,0 0 0 y e a r ly on J u n e 2 8
fr o m
1 9 2 0 to 1 9 4 4 in c lu s iv e .
California (State of).—Bond Sale.—
O n J u ly 2 t h e $ 5 0 0 , 0 0 0
4 % g o ld c o u p o n S a n F r a n c is c o s e a -w a ll b o n d s d e s c r ib e d in
V . 8 8 , p . 1 5 1 0 , w e r e a w a r d e d t o N . VV. H a l s e y & C o . o f S a n
F r a n c is c o a t 1 0 0 .6 0 5 .
M a t u r i t y J a n . 2 1 9 2 4 , s u b j e c t t o c a ll
a fte r J a n . 2 1 9 1 4 .
A s s t a t e d in V . 8 8 , p . 1 6 3 4 , p e t i t i o n w a s r e c e n t l y m a d e
t o t h e S u p r e m e C o u r t f o r a w r it o f m a n d a m u s t o c o m p e l t h e
p r e s e n t S t a t e o f f i c i a l s t o s ig n t h e a b o v e b o n d s .
T h e $ 5 0 0 ,0 0 0
w o r t h j u s t s o l d is p a r t o f t h e $ 2 , 0 0 0 , 0 0 0 is s u e a u t h o r i z e d in
1 9 0 3 a n d sig n e d a t t h a t t im e b y th e G o v e r n o r a n d o th e r
o ffic ia ls th e n h o ld in g o f f ic e .
T h e c la im w a s m a d e t h a t th e
b o n d s t o b e s o ld J u ly 2 s h o u ld b e a r t h e s ig n a tu r e s o f th e
p re se n t S ta t e o ffic ia ls .
A c c o r d in g to th e S a n
F ra n c isc o
“ C h r o n i c l e ,” t h e S u p r e m e C o u r t h a s d e n i e d t h e p e t i t i o n ,
g i v i n g t h e f o l l o w i n g r e a s o n s f o r it s d e t e r m i n a t i o n :
First, because the petitioner lias not at prosont a status which entitles
him to evoke the rem edy: and, second, bceauso ho or any other successful
bidder at the sale will be entitled to bonds proporly executed, and f the
bonds tendered are not so executed as to tnako them valid securities, he
may then compel the Issuance of others which are sufficient in every respect.
Cambridge School District (P. 0 . Cambridge), Furnas
County, Neb.—Purchaser of Bonds.— T h e $ 2 0 , 0 0 0 s c h o o l
b u i l d i n g b o n d s r e c e n t l y d i s p o s e d o f ( V . 8 8 , p . 1 6 3 4 ) , w e re
p u rch a sed
by
th e
S ta te
of
N eb rask a.
D e n o m in a tio n
$ 1 ,0 0 0 .
D a te J u n e
l 1909.
I n t e r e s t a n n u a l.
M a tu r ity
t w e n t y y e a r s , s u b j e c t t o c a ll a f t e r t e n y e a r s .
Camden, N. J.—Bonds Authorized.— D i s p a t c h e s s t a t e t h a t
th is c ity o n J u n e 3 0 p a s s e d a n o r d in a n c e a u th o r iz in g t h e
is s u a n c e o f $ 1 0 0 ,0 0 0 b o n d s fo r th e c o n s tr u c tio n o f p u b lic
d o c k s , w h a r v e s , p ie r s a n d b u l k h e a d s .
Camden School District (P. O. Camden), Ark.— Bond
Sale —--T h e W i l l i a m I t . C o m p t o n B o n d & M o r t g a g e C o . o f
S t . L o u i s , M o . , w e r e a w a r d e d o n M a y l a n is s u e o f $ 2 5 , 0 0 0
( n o t $ 3 0 , 0 0 0 a s fir s t r e p o r t e d ) 6 % s c h o o l b o n d s .
D e n o m i
n a tio n $ 5 0 0 .
D a te J u ly 1 1 9 0 9 .
I n t e r e s t s e m i-a n n u a l.
Carmen, Alfalfa County, Okla.— Bond Offering.— P r o
p o s a ls w ill b e r e c e iv e d u n t il 8 p . m . J u l y 2 6 f o r t h e $ 3 0 , 0 0 0
w a te r -w o r k s b o n d s r e c e n tly v o te d ( V . 8 8 , p . 1 2 6 8 ) .
B id s
a r e r e q u e ste d fo r 5 % , 5 A % a n d 6 % b o n d s .
Denomination to suit purchaser. Date Aug. 1 1909. Interest sem i
annual. Maturity twenty-five years. Certified ohook for 5% of the bonds
Is required. This town has no debt at prosont. Assessed valuation
$500,000
Carragan Independent School District, Tex.—-R o n d Sale. —
A n is s u e o f $ 7 , 0 0 0 5 %
1 0 -4 0 -y e a r (o p tio n a l) s c h o o l-h o u s e
b o n d s w a s d is p o s e d o f o n J u ly l to t h e S t a t e S c h o o l F u n d a t
p a r a n d a c c r u e d in te r e s t.
T h e s e b o n d s h a v e b e e n re g iste re d
Bettendorf Independent School District (P. 0. Daven
port), Scott County, Iowa.—Bond Offering.— P r o p o s a l s w ill
b y th e S ta t e C o m p tr o lle r .
b e r e c e iv e d u n t il 8 p . in . J u ly 1 5 f o r t h e $ 8 , 5 0 0 4 3 ^ % s c h o o l
b u i l d i n g b o n d s a u t h o r i z e d b y a u n a n i m o u s v o t e a t a n e le c
t i o n h e ld M a r c h 8 .
M a t u r i t y t e n y e a r s , s u b j e c t t o ca ll
after f i v e y e a r s .
T h i s t o w n s h i p h a s d is p o s e d o f $ 1 5 , 0 0 0
Big Sandy Irrigation District, Cheyenne County, Colo.—■
Bond Offering.— -P r o p o s a ls w ill b e r e c e i v e d u n t i l 1 0 a . m .
J u ly 2 4 b y t h e b o a r d o f d ir e c t o r s a t it s o f f i c e in K i t C a r s o n
fo r
$ 3 7 5 ,0 0 0
6%
b on d s.
In te r e st s e m i-a n n u a l.
W a lte r
M . C la r k is S e c r e t a r y o f t h e B o a r d .
Bradford, M i a m i County, O h i o .— Bond Offering.— P r o
p o s a ls w ill b o r e c e iv e d u n t il l p . in . J u ly 2 8 b y H . M . B r o w n ,
V illa g e C l e r k , f o r $ 2 5 , 0 0 0 4 3d2% w a t e r - w o r k s b o n d s .
Authority Section 2835 and 2837 of the Revised Statutes. Denomina
tion $500. Date July 1 1909. Interest semi-annual. Maturity $500
each six months from Sept. 1 1914 to March t 1939, Inclusive. Certified
check for 5% of the bonds bid for, payable to the Village Treasurer, Is re
quired. Purchaser to pay accrued Interest.
Cawker Township, Mitchell County, Kan.— Bond Sale —
t o R . W . M o r r is o n
& Co.
5%
r e fu n d in g b o n d s
o f K a n s a s C ity
Denomination $1,000.
Date June 1 1009. Interest semi-annually at
the fiscal agency In Topeka. Maturity May 31 1929, subject to call $1,000
yearly. Bonded debt, this Issue. Assessed valuation 1908, $2,047,000.
Cecil County (P. O. Elkton), Md.— R o n d Offering .— Pro
posals w ill b e r e c e iv e d u n t il 11 a . m . J u l y 1 3 b y t h e C o u n t y
C o m m is s io n e r s fo r $ 2 5 ,0 0 0
5%
road an d
h ig h w a y -im p r o v e
m en t bon d s.
A uthority, Chapter 73 1 of the Acts of Assembly, 1908.
Denomination
$500. Date July 1 1908. interest semi-annually at the office of the C ounty
Commissioners. Maturity July l 1918. Homls are exem pt from all taxes.
Certified check for 10% of hid Is required. John H . Icrrell Is County Clerk.
Charlevoix School District (P. O. Charlevoix), Charlevoix
County, Mich.—Bonds Offered bg Bankers.— S c h o o l r e f u n d
in g 4 )^ 2% 1 0 - y e a r b o n d s t o t h e a m o u n t o f $ 9 , 0 0 0 a r e b e i n g
o ffe re d b y C u tte r , W a lle r & M a y o f C h ic a g o a t 1 0 4 .0 9 a n d
Buffalo, N. Y .—Bond Offering.—-P r o p o s a ls w ill b e r e
c e i v e d u n t i l 12 m . J u ly 1 6 b y G e o . M . Z i m m e r m a n , C i t y
C o m p t r o lle r , fo r th e fo llo w in g 4 % r e g is te r e d b o n d s :
accrued
$500,900 50-year water bonds. A uthority Chapter 203, Daws of 1906 as
amended by Chapter 84, Laws o f 1907 as amended by Chapter
724, Laws of 1907 and Chapter 349, Laws of 1909.
100.000 1-20-year (serial) water refunding bonds. A uthority Section 7,
General’ Municipal Law, Chapter 685, Laws of 1892, as amended
b y Chapter 466, Laws of 1893, as amended by Chapter 54, Laws
o f 1897,as amended by Chapter 333, Laws of 1901 and Chapter
256. Laws o f 1908.
100.000 1-20-year (serial) water refunding bonds. A uthority Section 7,
General Municipal Law, Chapter 685, Laws of 1892, as amended
by Chapter 466, Laws of 1893 as amended by Chapter 54, Laws
,
o f 1897 as amended by Chapter 333, Laws of 1901 and Chapter
256, Laws of 1908.
300.000 20-year school bonds. Authority Chapter 53, Laws of 1908.
150.000 1-20-year (serial) municipal building bonds
A uthority Chapter
235, Laws o f 1908.
50.000 20-year playground bonds. A uthority Chapter 83, Laws of 1909.
40.000 1-10-ycar (serial) underground police and fire wires bonds. A u
thority Chapter 335, Laws of 1908.
'PlM above bonds arc dated Aug. 1 1909. Interest semi-annually at the
City Comptroller's office or at the Gallatin National Bank In New York
Chatham, Middlesex County, Conn.— Bond Sale.— D u r i n g
th e p a s t w e e k th is p la c e , a c c o r d in g t o r e p o r ts , a w a r d e d a n
is s u e o f $ 3 7 , 0 0 0 4 %
1 - 2 0 - y e a r ( s e r i a l) r e f u n d i n g r a i l w a y
b o n d s to th e M e r c h a n ts ’ S a v in g s B a n k of M id d le to w n a t p a r .
in te r e s t.
Denomination $1,000. Date May 15 1909
Interest semi-annually In
Chicago. T otal Indebtedness $19,000. Assessed valuation for 1908,
$1,313,250. Real valuation $2,000,000.
Chatham County (P. O. Pittsboro), No. Caro.—Bonds
Offered by Bankers.— T h e S e c u r i t y T r u s t G o . o f S p a r t a n b u r g
h a s p u r c h a s e d a n d is o fF erin g t o in v e s t o r s $ 2 5 , 0 0 0 4 A %
c o u p o n fu n d in g b o n d s .
Denomination $1,000. Date April 1 1009. Interest somi-anmmlly at
the National Bank of Commerce in New York City. Maturity $2,000
yearly on April 1 from 1919 to 1930 inclusive and $1,000 April 1 1931.
Total bonded debt $15,000. Assessed valuation $5,230,180.
Chehalis County School District No. 3, Wash.—Bond Sale.
h a s p u r c h a s e d , it is s t a t e d , a n
— T h e S ta te o f W a sh in g to n
is s u e o f $ 4 0 , 0 0 0 b o n d s o f t h i s d i s t r i c t .
J u l y 1 0 1909 . j
T H E
C H R O N IC L E
117
Oheraw, Chesterfield County, So. Car.—Bonds Offered by
Cumberland County (P. O. Fayetteville), N. 0.—Bond
Bankers.— I n t h e i r c ir c u l a r f o r M a y , I I . T . H o l t z & C o . o f Sale. — O n J u l y 5 t h e $ 2 5 , 0 0 0 5 % 2 0 - y e a r c o u p o n b o n d s
C h i c a g o a r e o f f e r in g t o in v e s t o r s $ 1 5 , 0 0 0 5 %
4 0 -y e a r c o u p o n
b r id g e b o n d s .
Denomination $1,000. Date Jan. 2 1000. Interest annually at the
Hanover National Hank In New York City. Total bonded debt, Including
this Issue, $30,000. Assessed valuation 5730,854. Actual valuation
51,473.708.
Cincinnati, Ohio.—Bond Sale.— O n
J u t y 1 t h e $ 7 5 0 ,0 0 0
4%
3 0 -6 0 -y e a r
(o p tio n a l)
coupon
re fu n d in g
C in c in n a ti
S o u t h e r n l t y . b o n d s d e s c r ib e d in 8 8 , p . 1 3 8 5 , w e r e a w a r d e d
to t h e F i f t h - T h i r d N a t i o n a l B a n k o f C i n c i n n a t i a t 1 0 1 . 4 3 —
a b a s is o f a b o u t 3 . 9 1 9 % t o th e o p t io n a l d a t e a n d a b o u t
3 .9 3 5 to fu ll m a t u r i t y . T h e fo llo w in g b id s w e re a lso r e c e i v e d :
B o n d s b id
A m ount
•
fo r.
B id .
525,500
H. Hauensohlld, Cincinnati....... ......................... .............$25,000
Seasongood & Mayer, Cincinnati-------------------------------- 750,000 700,032
German N at. Bank, Provident Savings Bank & Trust
C o., the Davies-Bertram C o., Cincinnati__ _________ 750,000 758,470
C. E. Denison & C o., Clevo. and First N at. B k., C leve. 750,000 750,975
Kudolph K leybolte &> C o., Cincinnati-------------------------t 25,000
25,225
{ 25,000
25,187.50
25,000
25,105
l 25,000
25,125
Brighton German Bank C o., Cincinnati.........................
25,000 25,220
W ell, Roth & C o., Cincinnati........................................__ 750,000
755,711
Field, Longstr'eth & C o., C in cin n a ti._________________f 100,000
100,500
100.000 100,375
100.000 100,250
100.000 100,125
First Nat. Bank, N o rw o o d ,.-----------------------------50,000 50,242
Union Sav. Bank & Trust Co. and Central Trust &
Sato Deposit C o., Cincinnati.......................................... 1250,000
250,951
f 250,000 250,070
, .
1250,000 250,370
Atlas Nat. Bank, Cincinnati---------------------------------------- 750,000 752,450
T h e fo llo w in g b id s w ere r e c e iv e d o n J u ly G fo r th e th r ee
is s u e s o f 4 % c o u p o n b o n d s d e s c r i b e d in V . 8 8 , p . 1 5 7 2 :
$1,899,000
street b o n d s.
$398,500
$74,500
s e w e r b o n d s.
sew e r b o n d s.
First National Bank, Cleveland;
Itiioadca & C o., New York;
Hayden, Miller & Oo., Cleve
land;
Fifth-Third
National
Bank, Cincinnati; O. 15. Donison & C o., Cleveland------------- *$1,926,155 70 *$408,701
Western-German Bank, P rovi
dent Savings Bank & Trust Co.,
German National Bank, Atlas
Nat. Bank, all of Cincinnati.
1,923,310 00
407,590
Citizens’ Nat. Bank, Central Trust
& Safe Dep. C o., Brood He Har
rison and Well, B oth & Co., all
of Cincinnati . ____ ___________
1,008,592 40
Seasougood & Mayor. U n e l n n ...
1,904,328 00
403,523
M eld, Uongstrelh & C o., C ln ___
0202;500 00
First National Bank. N o rw o o d ..
0201,919 10
Union Sav. Bit. & Tr. C o.. C i i i .. .
0125,875 00
$25,000..$25,150 00
Kudolph
Kleybolte Co.
2 5 ,0 0 0 .. 25,127 50
Inc.. Cincinnati „ ______
2 5 ,0 0 0 .. 25,225 00
2 5 ,0 0 0 .. 25,187 50
f$50 ,00 0 --$5 0 ,4 5 0 00
Davies & Bertram C o., Olnj 5 0 ,0 0 0 .. 50,700 00
t 5 0,0 0 0 -- 50,057 00
Merchants’ Nat. Bank, CIncIn__
(150,250 00
(150,250
S . Kuhn & Sons. C in c in n a t i._
___________
Brighton German Bank, Cln...................................
00 *$70,407 20
00
70,375 00
00
75,035
75,850
75,205
75,451
00
00
99
00
75,017 50
00
75,803 75
75,701 00
a Successful bidders,
b For $200,000 bonds.
c For $125,000 bonds.
!'’or$50.000!)onds. Both Issues of sewer bonds mature July 5 1919, while
the street bonds mature July 15 1929.
d
Clarendon, Donley County, Tex.—Bond Sale.— T h e $ 2 5 ,
0 0 0 5 % 2 0 - 4 0 - y e a r ( o p t i o n a l ) s a n i t a r y - s e w e r b o n d s d e s c r ib e d
in V . S 8 , p . 1 0 7 8 , w e r e s o l d o n A p r i l 3 0 .
T h e y are now b e
i n g o f f e r e d b y C u t t e r , W a l l e r & M a y o f C h i c a g o a t 1 0 G .5 5 .
Denomination $1,000. Date May 1 1909. Interest annually at the
Hanover National Bank In New York City. Total debt, Including this
issue, $26,250. Assessed valuation $822,900. Real valuation (estim ated),
$1,500,000.
Cleveland School District (P. O. Cleveland) Cuyahoga
County, Ohio.—Bond Offering.— P r o p o s a l s w ill b e r e c e iv e d
u n t i l 4 p . m . J u l y 1 9 , b y G e o r g e 10.
B o a r d o f E d u c a t i o n , f o r $ 2 0 0 ,0 0 0 4 %
im p r o v e m e n t b o n d s.
M y e r s , C le r k o f th e
c o u p o n b u ild in g a n d
A uthority A ct of General Assembly passed April 25, 1904. Denom i
nation $1,000. Date July 19 1909.
Interest semi-annual. Maturity
twenty years. Certified check on a national bank for 5% of bonds bid for,
payable to the Treasurer o f the Board o f Education, Is required. Bids
must be made on blank form s furnished by the Board.
Cloquet School District (P. O. Cloquet), Carlton County,
Minn.—Bond Sale.— O n J u n e 7 $ 2 5 , 0 0 0 ( n o t $ 3 0 , 0 0 0 a s
fir s t r e p o r t e d ) 5 %
B a n k o f C lo q u e t.
b o n d s w ere a w a r d e d to th e F ir s t N a tio n a l
Denominations $500 and $1,000. Date July 1 1909. Interest semi
annual. Maturity part yearly on July 1 from 1915 to 1919 inclusive.
Columbus,
O h i o .— Bond Sales.— D u r i n g t h e s i x m o n t h s
e n d in g J u n e 3 0 1 9 0 9 th e fo llo w in g -d e s c r ib e d b o n d s , a g g r e
g a tin g $ 5 0 7 ,0 0 0 , w ere p u r ch a se d b y th e S in k in g F u n d a t
p a r a n d a c c r u e d in t e r e s t :
$1,500
5,500
2.000
8.000
50.000
25.000
5.000
9.000
10.000
150,000
191,500
99,500
10.000
4 % Edward Street widening bonds dated Jan. 15 1909.
4 % street-opening bonds dated March 8 1909.
4 % sanitary-emergency bonds dated March 8 1909.
4 % engine house-equipment bonds dated April 17 1909.
4 % clty^proporty public-im provem ent N o. 17 bonds dated Jan. 30
4 % engine-house-equipment bonds dated April 1 1909.
police-sub station bonds dated May 1 1909.
Ninth Avenue opening bonds dated May 10 1909.
4 % electrlc-llght-works-extenslon bonds dated March 25 1909.
4% viaduct-refunding bonds dated July 1 1909.
(34 Issues) 4% assessment bonds.
(15 Issues) 4 14% assessment bonds.
4 l i % assessment bonds.
Creek County School District No. 5, Okla.—Bond Sale.—
T h is d is t r ic t h a s s o ld $ 2 0 ,0 0 0 5 %
1 0 -y e a r sc h o o l b o n d s .
Denomination J500. Date Jan. 1 1909. Interest semi-annually at the
Oklahoma liscal agency (the National Bank of Commerce) In New York
City. Total bonded debt, tills Issue. Assessed valuation, $091,247.
Actual valuation (estim ated), $1,000,000.
Cumberland County (P. O. Portland), Me.— R o n d Sale —
A n is s u e o f $ 2 0 0 , 0 0 0 3 ) ^ % 1 5 - y e a r c o u r t - h o u s e b o n d s w a s
s o l d o n J u ly 1 to P e r r y , C o f f i n & B u r r o f B o s t o n a t 9 7 . 3 3
a n d a c c ru e d in t e r e s t .
D e n o m in a tio n $ 1 ,0 0 0 .
D a t e J u ly 1
1909.
I n t e r e s t somi-annual
d e s c r i b e d in V . 8 8 , p . 1 6 3 5 , w e r e a w a r d e d t o t h e S e c u r i t y
T r u s t C o . o f S p a r ta n b u r g a t 1 0 5 .4 3 .
P u r c h a se r to fu r n is h
b la n k b o n d s a n d p a y a c c r u e d in t e r e s t . F o llo w in g are th e b id s :
Security Trust C o., Spartan
burg _____________________ *105.43
S. A. Kean & C o., C h ica g o .. 105.251
A. J. H ood & C o., D etroit--*105.25
McCoy & C o., Chicago_____ 104.50
W ell, R oth & C o., C ln cin .. 101.27
Seasongood & Mayer, C ln .. 104.20
W oodln , McNear & iMoore,
C h ica g o __________
*104.02
Cumberland Savings & Trust
C o.. F ayetteville--------------- 164.02
Fourth N at. Bank, F ayettev. 103.75
Farson, Son & C o., C h ica go .. 104
First National Bank, C le v o ..* 102.20
Otis & Hough, Cleveland____*102.02
Union Savings Bank & Trust
C o., Cincinnati___________ *162
John Nuvecn & C o., Chicago. 161.30
* Also furnish blank bonds.
All bidders oirered accrued interest in addition to their bids.
D a l l a s , T e x .—Corrected Bid .— I n
r e p o r t i n g t h e b id o f
G o o d w i n & S t r i c k l a n d la s t w e e k ( V . 8 9 , p . 5 9 ) f o r t h e $ 2 0 0 ,
0 0 0 sc h o o l a n d $ 5 0 0 ,0 0 0 w a te r b o n d s s o m e erro rs c re p t in .
T h e c o r r e c t e d b i d is a s f o l l o w s :
($50,000
50.000
50.000
_
50,000
Goodwin & S trick lan d .. 50,000
25.000
50.000
25.000
. 50,000
water
water
water
water
water
water
water
water
school
bon d s______
bonds______
bon d s______
bonds______
bonds______
bonds______
bon ds______
bonds______
bonds______
$46,250
46.500
40,625
46,705
46,755
23,352 50
47,000
23,562 50
_____
____
_____
_
______
_______
.
46,873
Danbury, Iowa.—Bond Sale.—
T h e $ 7 ,0 0 0 5 %
e le o tr ic li g h t -p la n t b o n d s o ffe re d o n J u n e 3 0 ( V . 8 8 , p . 1 6 3 5 ) w e re
a w a rd e d on th a t d a y o t G e o . M . B e c h te l & C o . o f D a v e n p o r t
at par.
D e n o m in a tio n S 5 0 0 .
D a t e J u ly 6 1 9 0 9 .
In terest
s e m i-a n n u a l.
Danville, Boyle County, Ky.—Bond Sale.—T h e $ 2 0 , 0 0 0
4 % 1 - 2 0 - y e a r ( s e r ia l) w a t e r b o n d s o f f e r e d o n J u n e 1 9 ( V .
8 8 , p . 1 5 7 2 ,) h a v e b e e n s o ld to th e U n io n S a v in g s B a n k &
T u r s t C o . o f C in c in n a ti a t p a r .
Delaware, Delaware County, Ohio.—Bond Sale.— O n J u l y 3
t h e $ 1 2 , 0 0 0 5 % c o u p o n s t r e e t - i m p r o v e m e n t ( c i t y ’s p o r t i o n )
b o n d s d e s c r ib e d in V . 8 8 , p . 1 6 3 5 , w e r e a w a r d e d t o t h e D e l a
w a r e N a t i o n a l B a n k o f D e l a w a r e a t 1 0 5 . 2 9 1 , a n d a c c r u e d in
te re st.
T h e b id s w e r e a s f o l l o w s :
Delaware N at. B k., D ela.$12,635 0 0 1Delaware Sav. B k.. D e la .$12,426 50
I-irst Nat. B k., Delaware. 12,587 001 \V. R . T odd & C o., C ln o .. 12,425 00
Barto Scott & C o.. Colum. 12,517 50|Ncw First Nat. B k., C o l.. 12,422 00
Seasongood & Mayer, C ln. 12,441 6 0 1 W eil, R oth & C o., C in e ... 12,410 50
First Nat. Bank, Cleveland 12,441 00| Ohio Savs. B k .& T r.C o .. 12,398 40
Maturity $2,000 on March 1 in each of the years 1911 and 1912 and $1,000
yearly on March 1 from 1913 to 1920, Inclusive.
De Queen, Sevier County, Ark .—Bond Sale.—
C q m p to n B o n d & M o rtg a g e C o .
$ 2 5 ,0 0 0 6 % w a te r -w o r k s b o n d s .
of
S t.
L o u is
The W m . R .
has bou gh t
Denomination $500. Date Feb. 1 1909. Interest semi-annually at the
St. Louis Union Trust Co. in St. Louis. Maturity on Feb. 1 as follows:
$1,000 yearly from 1910 to 1917 Inclusive, $1,500 yearly from 1918 to 1923
Inclusive and $2,000 yearly from 1924 to 1927 Inclusive. Total debt, this
Issue. Assessed valuation $589,766. Actual valuation
(estim ated)
$1,500,000.
Detroit, Mich.—Bonds Awarded in Part. — -O f t h e $ 2 5 0 , 0 0 0
3 ) ^ % 3 0 - y e a r c o u p o n w a t e r - m a i n b o n d s d e s c r i b e d in V . 8 8 ,
p . 1 3 8 5 , $ 1 0 0 , 0 0 0 h a v e b e e n s o l d t o N . \ V . H a l s e y <fc C o .
o f C h ic a g o a t 1 0 1 . 3 7 5 .
Doland, Spink County, So. Dak.—Interest Rate.—The
$ 7 ,0 0 0 w a t e r -e x t e n s io n b o n d s r e c e n t ly v o t e d ( V . 8 9 , p . 5 9 , )
w ill b e a r 4 > £ % i n t e r e s t a n d m a t u r e J u l y 1 5 1 9 1 9 .
Elmwood Township, Peoria County, 111.— R o n d Sale.— T h e
W m . I t . C o m p to n B o n d & M o r tg a g e C o . o f S t . L o u is h a s
p u r c h a s e d S 8 0 ,0 0 0 4 ^ j % 1 - 2 0 - y e a r ( s e r ia l) c o u p o n r e f u n d i n g
bon d s.
Denomination $1,000. Date. July 1 1909. Interest semi-annually at
the State Treasurer’s office in Springfield. T otal debt, this Issue. As
sessed valuation 1908, $581,769.
Eminence, Henry County, Ky .— Bond Sale. — O n July 6
t h e $ 1 5 , 0 0 0 5 % s t r e e t b o n d s d e s c r ib e d in V . 8 9 , p . 5 9 , w e r e
a w a r d e d , i t is s t a t e d , t o t h e H a r r i s T r u s t & S a v i n g s B a n k o f
C h ic a g o a t 1 0 2 . 3 3 3 .
M a t u r i t y $ 4 , 0 0 0 o n J u l y 1 in e a c h o f
th e y e a r s 1 9 1 4 , 1 9 1 9 a n d 1 9 2 4 a n d $ 3 ,0 0 0 J u ly 1 1 9 2 9 .
E n i d , G a r f i e l d County, O k l a .— Bonds Offered by Bankers.
— -T h e W m . 11. C o m p t o n B o n d & M o r t g a g e C o . o f S t . L o u i s
is o f f e r i n g a t 1 0 5 . 2 5 $ 5 8 , 0 0 0 5 % 1 0 - 2 5 - y e a r ( o p t i o n a l ) s e w e r
a n d w a te r -w o r k s b o n d s .
Denomination $1,000. Date, Feb. 1 1909. Interest semi-annually at
the liscal agency of Oklahoma In New York City.
Everett, Mass.— Temporary Loan.— O n J u l y 8 $ 6 0 , 0 0 0
t e m p o r a r y -lo a n n o te s w e re a w a r d e d to B la k e B r o s . & C o . o f
B o s to n a t 3 . 2 9 % d is c o u n t.
L o a n is d u e $ 1 0 , 0 0 0 m o n t h l y
fr o m O c t . 15 1 9 0 9 t o M a rc h 1 5 1 9 1 0 in c lu s iv e .
Fern Bank, Hamilton County, Ohio.—Bond Sale.—On
J u ly 3 t h e $ 4 , 0 0 0 5 % 2 0 - y e a r c o u p o n s t r e e t - i m p r o v e m e n t
b o n d s d e s c r ib e d in V . 8 8 , p . 1 6 3 6 , w e r e a w a r d e d t o W . R .
T o d d & C o . o f C in c in n a ti a t 1 0 9 a n d a c c r u e d in t e r e s t .
The
b id s w e re a s fo llo w s :
W . R . T odd & C o.. Cln----$4,360 00IS. Kuhn & Sons, Cin______ $4,262 00
Seasongood & Mayer, C ln .. 4,262 40|New First Nat. B k ., Colum. 4,210 00
Fort Scott, Kan.—Bond Sale.—
$ 6 5 ,0 0 0 4 ^ %
K a n s a s C ity .
T h is c it y h a s
r e f u n d i n g b o n d s t o R . W . M o r r is o n
aw arded
& C o. of
Denomination $1,000. Date July 1 1909. Interest semi-annually at
the liscal agency In Topeka. Maturity $25,000 on July 1 1924 and $40,000
on July 1 1929.
Galena, Cherokee County, Kan.—Bond Sale.— A n is s u e o f
$ 4 0 ,0 0 0 5 %
l O ^ - y e a r (a v e r a g e ) w a te r -w o r k s b o n d s h a s
b e e n a w a r d e d t o R . W . M o r r is o n & C o . o f K a n s a s C i t y .
Denomination $1,000. Date June 15 1909.
Sept. 1 at the fiscal agency In Topeka.
Interest March 1 and
Glasscock County (P. O. Garden City), Tex.—Bond Sale .—
T h e S t a t e S c h o o l F u n d o n J u ly 1 p u r c h a s e d $ 3 2 ,5 0 0 5 %
5 -4 0 -y e a r
( o p t i o n a l ) c o u r t - h o u s e b o n d s on a 4% basis.
THE CHRONICLE
118
T h ese
s e c u r itie s
have
been
re g iste re d
by
th e
S ta te
Com p
tr o lle r .
Glasscock County Common School District, Tex.— Bond
Sale.—
S c h o o l-h o u s e 6 %
b o n d s to t h e a m o u n t o f 5 6 ,0 0 0
h a v e b e e n d is p o s e d o f to t h e S ta te S c h o o l F u n d a t p a r an d
in te r e s t.
T h e y m a t u r e in 4 0 y e a r s b u t a r e s u b j e c t t o c a ll
a fte r 1 0 y e a r s a n d h a v e b e e n re g iste re d b y th e S ta te C o m p
t r o lle r .
Glencoe Independent School District No. 1 (P. O. Glencoe),
McLeod County, Minn.— Bond Sale.— T h e C l e r k o f t h e
B o a r d o f E d u c a t io n a d v is e s u s t h a t th e 5 1 2 ,0 0 0 4 %
s c h o o l-a d d it io n -b u ild in g
b on d s v o te d on M ay 24
p . 1 3 8 6 ) , h a v e b e e n s o ld to th e S ta t e o f M in n e s o ta .
2 0 -y e a r
(V . 8 8 ,
Lenox Union Free School District No. 9 (P. O. Canastota),
Madison County, N. Y . — Bond Sale.— O n J u n e 2 t h e R o c h e s
t e r S a v i n g s B a n k o f R o c h e s t e r w a s a w a r d e d th e $ 1 2 , 0 0 0 5 %
s c h o o l b o n d s d e s c r i b e d in V . 8 8 , p . 1 3 8 6 , f o r $ 1 2 , 2 3 3 7 0 — ’t h e
p r ic e t h u s b e i n g 1 0 1 . 9 4 1 .
M a t u r i t y 5 3 ,0 0 0 y e a r ly o n J a n . I
fr o m
1911
to
1 9 1 4 in c lu s iv e .
Lincoln County (P. O. Shoshone), Idaho.— Bond Sale.—
T h e 5 2 8 ,0 0 0
1 0 - 1 9 - y e a r ( s e r i a l) c o u p o n r e f u n d i n g b o n d s
o ffe re d o n A p ril 18 w ere p u r c h a se d b y th e T r o w b r id g e & N iv e r
C o . o f C h ic a g o a s 4 ^ s .
S e e Y . 8 8 , p . 7 8 1 , fo r d e s c r ip t io n
o f th e se s e c u r itie s .
I n t e r e s t p a y a b le a t th e C a r n e g ie
Trust
C o ., N e w
Y ork
Litchfield,
Greenfield, Highland County, Ohio.— Bond Sale.—
[VOL. LXXX1X.
C ity .
Medina
County,
Ohio.—
B ond
S a le .— T h e
On
J u l y 1 a n is s u e o f 5 4 , 0 0 0 4 % % s t r e e t a n d s e w e r b o n d s w a s
a w a r d e d t o t h e H i g h l a n d C o u n t y B a n k o f G r e e n f ie l d a t
1 0 0 .9 2 5 .
T h e b id s w e re a s fo llo w s :
S a v i n g D e p o s i t B a n k C o . o f M e d i n a h a s , i t is s t a t e d , b e e n
a w a r d e d a n is s u e o f 5 1 , 2 0 0 r e p a ir b o n d s f o r $ 1 , 2 0 1— t h e p r ic e
Highland County B k., Greenf_$4,037| New First National Bank, ColP eople’s Sav. 13k., G reen f._ 4,030
u m b u s --------------------------------$4,004
D ayton Sav. A Tr. C o., Dayton 4,010|Seasongood A Mayer, CIncln__ 4,001
Denomination $500. Date March 1 1909. Interest semi-annual. Ma
turity $500 yearly on March 1 from 1910 to 1917 inclusive.
3 1 a n is s u e o f 5 8 , 0 0 0 5 % w a t e r - w o r k s b o n d s
to th e F ir s t N a t io n a l B a n k in L it t le R o c k .
Harris County Common School District, Tex.— Bond Sale.
— A n is s u e o f 5 1 6 , 0 0 0 5 % 1 0 - 2 0 - y e a r ( o p t i o n a l ) s c h o o l - h o u s e
b o n d s w a s b o u g h t b y th e S ta t e S c h o o l F u n d o n J u ly 1 a t
p a r a n d a c c ru e d in te r e s t.
T h e S t a t e C o m p tr o lle r h a s r e g is
te r e d th e s e s e c u r itie s .
Haskell County Common School District, Tex.— Bond
Sale.—
• S c h o o l-h o u s e b o n d s t o t h e a m o u n t o f 5 2 , 6 0 0 w e r e
b o u g h t o n J u ly 1 b y t h e S t a t e S c h o o l F u n d a t p a r a n d in te r
e st.
T h e y c a r r y 5 % i n t e r e s t , m a t u r e in 2 0 y e a r s a n d h a v e
b e e n re g iste re d b y th e S ta t e C o m p tr o lle r .
Hays County Common School District, Tex.— Bond Sale.
— O n J u ly 1 th e S ta t e S c h o o l F u n d w a s a w a r d e d 5 3 ,0 0 0 5 %
1 5 -2 0 -y e a r (o p tio n a l) sc h o o L h o u se b o n d s a t p ar a n d accru ed
in te r e st.
T h e y h a v e b e e n re g iste re d b y th e S ta te C o m p
t r o lle r .
Hoboken, N. J.— Bond Offering.— -P r o p o s a l s
w ill
be
re
c e i v e d u n t i l 4 p . m . J u l y 2 8 b y t h e M a y o r a n d C i t y C o u n c il
fo r th e fo llo w in g 4 %
re g iste re d o r c o u p o n b o n d s :
$125,000 re-paving bonds. A uthority A ct o f Legislature approved March 2
23,000 water bonds. A uthority A ct o f Legislature approved April 21
1909.
Denomination $1,000. Interest semi-annual. Maturity 30 years.
Certified check or cash for 5% o f bid Is required. James I I . Londrigan is
City Clerk.
,
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Honey Grove, Fannin County, Tex.— Bond Sale.— W e a r e
a d v is e d t h a t th e 5 7 ,0 0 0 5 %
2 0 -4 0 -y e a r (o p tio n a l) s tr e e tim p r o v e m e n t b o n d s o ffe re d on M a y 1 w e re a w a r d e d on M a y
1 0 t o J . B . O l d h a m o f D a l l a s f o r 5 7 , 2 0 0 , t h e p r ic e t h u s b e i n g
1 0 2 .8 5 6 .
I n V . 8 8 , p . 1 3 8 6 , w e r e p o r te d th e sa le o f 5 2 ,0 0 0
o f th e se b o n d s to th e C o m m is s io n e r s ’ C o u rt o f F a n n in
C o u n ty .
W e a r e n o w in f o r m e d t h a t t h a t s a l e w a s n e v e r
c o n c lu d e d .
Hudson School District, Los Angeles County, Cal.— Bond
Sale .—
R e p o r ts s ta te t h a t th e 5 1 0 ,0 0 0 5 %
g o ld b u ild in g
b o n d s o f f e r e d o n J u n e 2 8 a n d d e s c r i b e d in V . 8 8 , p . 1 6 3 7 ,
w e r e a w a r d e d t o t h e S t a t e B o a r d o f E x a m i n e r s o f C a lif o r n ia
at
1 0 4 .0 3 .
th u s b e in g
1 0 0 .0 9 2 .
Little Rock, Lyon County, Iowa.— Bond Sale.—
Denomination $1,000. Date June 1 1909. Interest
turity June 1 1929, subject to call after June 1 1914.
$200,000
lo a n .
A li s t o f t h e
p r o p o s a l s r e c e iv e d f o r t h e 5 3 5 , 0 0 0 4 % 2 0 - y e a r c o u p o n s t o r m
w a te r -s e w e r -c o n s tr u c tio n b o n d s s o ld o n J u n e 2 9 ( V . 8 9 ,
p . 60)
fo llo w s :
_
First N at.B k., I r o n t o n ..$35,437 5 0 1Field. Longstreth A C o.,
W e ll,R o th & C o., Cincln. 35,222 201 Cincinnati - - - - - - - - - - -535.140
Albert Kleybolte & C o.,
JW. R . T odd & C o., Cin
3o,075
_____ 35,175 00 Barto Scott A C o., Columb. 35.050
Cincinnati
Central T r. A Safe Dcp.
Fifth-Third N at. Bank,
C o., Cincinnati_________ 35,141 0 0 1 Cincinnati .
- - - - - - - 35,044
All bidders oflered accrued Interest in addition to their bids.
00
00
00
50
Jasper, A l a . — Bond Election.— A n e l e c t i o n w ill b e h e ld
J u l y 1 2 t o v o t e o n a p r o p o s i t i o n t o is s u e 5 1 6 , 0 0 0 5 % 2 0 - y e a r
h i g h -s c h o o l-b u ild in g b o n d s .
I n t e r e s t s e m i-a n n u a l.
.
Kansas.— Bonds Purchased during June.— T h e fo llo iv in g
b o n d s w e re p u r c h a s e d a t p a r w ith S t a t e fu n d s d u r in g J u n e :
Pittsburg— $8,340 6 % 10-year bonds, dated June L 1909.
P rotection Township, Comanche County— $18,000 4 >4% 20-year bonds,
dated June 1 1909.
School D istrict No. 58, Haskell County— $343 77 0% 5-year bonds, dated
April 12 1909.
W infield.— $2,899 01 5% 10-year bonds, dated April 1 1909.
'The above Issues are subject to call at any interest-paying period.
Kenna School District No. 22, Chaves County, N. Mex.—
Bond Sale.—
O n J u n e 2 6 th e $ 2 ,0 0 0 6 % 1 0 -3 0 -y e a r (o p tio n a l)
c o u p o n s c h o o l - h o u s e b o n d s d e s c r ib e d in V . 8 8 , p . 1 6 3 7 , w e r o
a w a r d e d to B o s w e l l & S t e e l o f D e n v e r , C o l o . , a t 1 0 2 . 5 0 .
Ne
o t h e r b id s w e r e r e c e i v e d .
.
______
«3 .0 0 %
a 3 .G 0 %
A $105 prem .
& $13 prem .
----------
Mahoning County Road District No. 1 (P. O. Youngstown),
Ohio.— Bond Sale.— O n J u ly 3 t h e $ 1 2 5 , 0 0 0 4 } ^ % r o a d i m p r o v e m e n t b o n d s d e s c r ib e d in V . 8 8 , p . 1 6 3 8 , w e r e a w a r d e d
t o th e C le v e la n d T r u s t C o . o f
C le v e la n d a t 1 0 3 .6 7 a n d
a c c ru e d in te r e s t.
T h e b id s w e r e a s f o l l o w s :
Cleveland T r. C o., ClevC-5129,587
W . It. T od d & C o., C in .*129,050
Otis & H ough. Cleveland. 129,228
New First Nat. Bk., Col. 128,875
50 First Nat. B k.,C leveland.$128,342 00
00 Hayden, M lller& 0o.,01ev.l28,300 00
00 McCoy & C o., C hicago.. 125,300 00
00
•Bid said to be irregular.
Maturity $5,000 each six months from Feb. I 1912 to Fob. 1 1927 in
clusive, $4,000 on Aug. 1 from 1927 to 1931 inclusive and $ 3 , 0 0 0 on Feb. 1
from 1 9 2 8 to 1931 inclusive.
Malden, Mass.— Temporary Loan.— W e s e e i t r e p o r t e d
t h a t a lo a n o f 5 1 0 0 , 0 0 0 , d u e J a n . 1 0 1 9 1 0 , h a s b e e n n e g o t i a t e d
w ith B o n d & G o o d w in o f B o s to n a s f o llo w s :
$ 2 5 ,0 0 0 a t
3 . 1 5 % d is c o u n t a n d $ 7 5 ,0 0 0 a t 3 . 2 9 % d is c o u n t.
Manhattan, Riley County, Kan.— Bond Sale.— R . W .
M o r r is o n & C o . o f K a n s a s C i t y h a v e p u r c h a s e d $ 2 5 , 0 0 0 5 %
10- 20 - y e a r a n d 5 5 1 , 0 0 0 6 % 5 / ^ - y e a r ( a v e r a g e ) s e w e r b o n d s
at 1 0 2 ^ .
Martin County (P. O. Fairmount), Minn.— Bond Offering.
— -P r o p o s a ls w ill b e r e c e iv e d u n t i l 2 p . m . J u l y 1 4 b y H . P .
E d w a r d s , C o u n t y A u d i t o r , fo r th e fo llo w in g d it c h -c o n s t r u c
tio n b o n d s a t n o t e x c e e d in g 6 % in t e r e s t .
$ 6 2 , 4 0 0 judicial ditch No. 3 bonds. Denominations $1,000, $1,000,
54,500, $3,500, $3,000 and $3,400. M aturity part yearly from
2 to 19 years.
21,800 Judical ditch No. 4 bonds. Denomination $509, $2,000, $1,500 ,
$ 1 , 0 0 0 and $800. Maturity part In 2 years, remainder part yearly
from 4 to 19 years.
3 6 , 5 0 0 ju d icia l ditch No. 8 bonds.
Denominations S I ,000, $3,000,
$2,500, $2,000 and $1,500. Maturity part in 2 yoars, remainder
part yearly from 4 to 19 years.
Certified check for 5 % of am ount bid, payable to the C ou n ty, is required.
Bank
Ironton, Lawrence County, Ohio.— Bids.—
Ma
*700,000
lo a n .
Loring, Tolm an & Tupper, B oston______ a3.08%
Blake Bros. & Co 1
Curtis & Sanger— / B o s t o n ________
,n 3.09%
Bond & G oodw in, B oston___________ _-_ a 3 .1 0 %
W m . A R ead & C o., B oston___________a3 .14%
a Discount.
C a l i f o r n i a p u r c h a s e d t h e 5 6 5 , 0 0 0 5 % g o ld c o u p o n s c h o o l
b u i l d i n g b o n d s o f f e r e d o n J u n e 2 8 a n d d e s c r i b e d in V . 8 8 ,
p . 1 6 3 7 , a t 1 1 0 .7 6 9 .
M a t u r i t y o n J u n e 2 8 a s f o l l o w s : 5 2 ,0 0 0
y e a r ly fr o m 1 9 1 5 to 1 9 1 9 in c lu s iv e , 5 3 ,0 0 0 y e a r ly fr o m 1 9 2 0
to 1 9 2 4 in c lu s iv e , $ 4 ,0 0 0 y e a r ly f r o m 1 9 2 5 to 1 9 2 9 in c lu s iv e
a n d $ 5 ,0 0 0 y e a r ly fr o m 1 9 3 0 t o 1 9 3 3 in c lu s iv e .
S ta t e S c h o o l F u n d a t p a r a n d in t e r e s t .
annual.
T h e fo llo w in g p r o p o s a ls
w e r e r e c e i v e d o n J u l y 7 f o r a lo a n o f $ 2 0 0 , 0 0 0 d u e N o v . 9
1 9 0 9 a n d o n e o f $ 7 0 0 , 0 0 0 d u e J u ly 9 1 9 1 0 :
Marysville, Ohio.— Bond Sale.—
4 i ^ % ta x a tio n b on d s h a v e been
(o p t io n a l) s c h o o l-h o u s e b o n d s , r e g is te r e d b y th e S t a t e C o m p
t r o l l e r o n J u n e 2 5 ( V . 8 9 , p . 6 0 ) , Avere s o l d o n J u l y 1 t o t h e
O n M ay
aw arded
Lowell, Mass.— Temporary Loan.—
Huntington Park Union High School District, Los Angeles
County, Cal.— Bond Sale.—'T h e S t a t e B o a r d o f E x a m i n e r s o f
Iola Independent School District (P. O. Iola), Grimes
County, Tex.— Bond Sale.— T h e 5 7 , 0 0 0 5 % ^ 5 - 4 0 - y e a r
w as
of
M a r y s v ille a t
R e p o r ts s ta te th a t $ 8 ,1 0 0
a w a r d e d to th e P e o p le ’s
par.
Melrose, Mass.— Bond Sale.—
O n J u ly 8 th e $ 4 5 ,0 0 0 w a te r
5 1 0 , 0 0 0 s e w e r 3 j 4 > % c o u p o n b o n d s d e s c r i b e d in V . 8 9 ,
p . 6 1 , w e r e a w a r d e d t o B l a k e B r o s . «fc C o . o f B o s t o n a t
1 0 0 .5 2 a n d a c c r u e d in t e r e s t .
T h e s e w e r is s u e m a t u r e s in
J u n e 1 9 3 9 a n d t h e Avater b o n d s $ 2 , 0 0 0 y e a r l y o n J u n e
1
f r o m 1 9 1 0 t o 1 9 3 1 i n c l u s i v e a n d 5 1 , 0 0 0 in 1 9 3 2 .
and
Menominee, Menominee County, Mich.— Bond Sale.— A n
is s u e o f 5 3 0 , 0 0 0 4 y2% s t r e e t - i m p r o v e m e n t b o n d s h a s b e e n
a w a r d e d to th e F ir s t N a tio n a l B a n k o f M e n o m in e e a t p a r .
Denomination $500.
turity in 1918.
Date July 1 1909.
Interest semi-annual.
Ma
Mertzon Independent School District (P. O. Mertzon),
Iron County, Tex.— Bond Sale.— O n J u l y 1 t h e 5 2 0 , 0 0 0 5 %
20 - 40- y e a r ( o p t i o n a l ) s c h o o l - h o u s e b o n d s o f f e r e d o n J u n e 5
a n d d e s c r i b e d in V . 8 8 , p . 1 3 8 7 , Avere p u r c h a s e d b y t h e S t a t e
S ch o o l F u n d a t par a n d a ccru ed in te r e s t.
T h e y Avere r e g i s
te r e d b y th e S ta t e C o m p tr o lle r o n J u n e 1 1 .
M i n n e a p o l i s , M i n n . — Bids.— T h e f o l l o w i n g b i d s w e r e r e
c e i v e d o n J u l y 1 f o r t h e t h r e e is s u e s o f 4 % 3 0 - y e a r c o u p o n
b o n d s , a g g r e g a t i n g $ 7 6 0 , 0 0 0 , a w a r d e d , a s s t a t e d in V . 8 9 ,
p . 6 1 , t o W m . A . R e a d & C o . o f N cav Y o r k C i t y .
W m . A . Read A C o., New Y o r k ______________________________ $773,824 40
E s ta b ro o k A C o . , B oston_______________________ _______ _____ 769,804 00
E H . Rollins A Sons, Chicago--------------- ------------------------------------- 768,215 60
St. A n th on y’s Falls Bank of Minneapolis (for $200,000)---------- 205,960 00
First National Bank of Minneapolis (for $ 1 0 0 , 0 0 0 ) ----------------- 101,000 00
Missoula School District No. 1 (P. O. Missoula), Missoula
County, Mont.— Bond Sale.— T h e $ 4 0 , 0 0 0 4 % 0 - 2 0 - y e a r
( o p t i o n a l ) c o u p o n s c h o o l - h o u s e b o n d s , b i d s f o r w h ic h
r e je c te d o n M a y 1 5 ( V . 8 8 , p . 1 3 8 7 ) , h a v e b e e n s o ld .
w e re
M o n t p e l i e r , Vt. — Bond Offering.— P r o p o s a l s w ill b e re
c e i v e d u n t il 7 : 3 0 p . m . J u l y 1 4 b y T . R . M e r r i ll, C i t y T r e a s
u rer , fo r $ 1 2 0 ,0 0 0 4 %
c o u p o n o r re g is te r e d c it y -h a ll -c o n
stru c tio n b o n d s .
T h e s e b o n d s Avere o f f e r e d w i t h o u t s u c c e s s
as 3J 4s ( V . 8 8 , p . 1638) on Ju n e 2 3 i
119
THE CHRONICLE
J u l y 1 0 1009. |
Interest semi-annually at the City Treasurer’s office. Maturity " n o t
less than ten or more than twenty years from d a te.”
llonds are exem pt
from all taxation.
Denomination $500. Date May 15 1909. Interest Jan. 1 and July 1
at the fiscal agency in Topeka. Bonded debt, this Issue. Assessed valua
tion 1908. $933,526.
Morgan City, Saint Mary Parish, La.— Bond Sale.— N e w
O r le a n s p a p e r s s t a t e t h a t E . W m . D r i e b h o l z o f R a m o s w a s
t h e s u c c e s s f u l b i d d e r r e c e n t l y f o r a n is s u e o f $ 2 5 , 0 0 0 s c h o o
bon d s.
T h e p r ic e p a i d by h i m w a s p a r .
Plymouth Township (P. O. Plymouth), Richland County,
Ohio.— Bond Sale.— T h e F i r s t N a t i o n a l B a n k o f S h e l b y ,
Moultrie, Colquitt County, Ga.— Bond Sale.— O n J u ly 1
th e $ 5 0 ,0 0 0 5 %
3 0 -y e a r g o ld c o u p o n
b o n d s d e s c r i b e d in
V . 8 8 , p . 1 6 3 8 , w ere a w a r d e d to th e R o b in s o n -H u m p h r e y
C o . o f A t la n t a a t 1 0 6 .3 0 a n d a c c r u e d in t e r e s t .
T h e b id s
w ere a s fo llo w s :
o f f e r in g 1 1 0 . 9 2 9 a n d a c c r u e d i n t e r e s t , w a s t h e s u c c e s s fu l
b id d e r o n J u ly 6 fo r th e $ 1 5 ,0 0 0 5 % c o u p o n r o a d -im p r o v e
m e n t b o n d s d e s c r ib e d in V . 8 9 , p . 6 3 .
A li s t o f t h e b i d s
r e c e iv e d f o llo w s :
First Nat. Bank, S h e lb y ..$16,639
Seasongood & Mayer, CIn. 16,605
W ell, R oth & C o., CIn____ 16,602
P eople’s N at. B k., P ly m .. 1 6 , 6 0 0
35 Breed & Harrison, C in e .. $16,425 0*
00 Toledo Fire & Marine Ins.
50
C o., Sandusby_________ 16,420 0*
0 0 A . K leybolte & C o., CIn. _ 16,150 00
M a tu r ity p a r t y e a r ly o n S e p t. 1 fr o m
R oblnson-H um phreyC o.,A tl.$53,150|S. A. Kean & C o.. Chicago. _$51,750
J. H . Hillsman & C o., A tl_-_ 53,100 .1. W . Dickey, A u g u s t a ... . . 51,669 s i v e .
C. H . Coffin & C o., Chicago- 5 2 ,0 0 1 1Woodln.McNear&Moore,Chic. 50,816
Mount Vernon, Davison County, So. Dak.— Bond Sale.—•
O n J u ly 5 th e $ 6 ,0 0 0 1 0 -2 0 -y e a r (o p tio n a l) se w e r b o n d s ,
d e s c r i b e d in V . 8 9 , p . 6 2 , w e r e a w a r d e d t o J . M . N e w e l l o f
M t . V e r n o n a t p a r fo r 5 s .
Natchez, Miss.— Bond Election.— O n J u l y 1 3 a n e le c t io n
w ill b e h e ld t o v o t e u p o n a p r o p o s i t i o n t o is s u e $ 2 7 , 5 0 0 i m
p r o v e m e n t a n d $ 2 0 ,0 0 0 fu n d in g b o n d s .
Nebraska.— R o n d Sales.— T h e f o l l o w i n g b e n d s w e r e p u r
c h a se d b y th e S ta te P e r m a n e n t S c h o o l F u n d d u r in g J u n e :
Chadron— $14,000 5% water-refunding bonds purchased on a basis of
413%
Date Aug. I 1904. interest semi-annually at the State liscal
agency in New York City. Maturity Aug. 1 1924, subject to call after
Aug. 1 1914.
Clay County School District No. 70— $12,000 5% bonds purchased on a
basis of 413 % . Date June 2 1909. Interest annually at the State Treas
urer’s office. Maturity part yearly on June 2 from 1910 to 1921 Inclusive.
Greeley County School District No. 61— $500 6% bonds purchased on
a basis of 4'/■*%■ Date May 1 1909. Interest Jan. 1 at Greeley. Ma
turity Jan. 1 1919.
Saline County School District No. 68— $6,000 413% bonds purchased at
par. Date June 1 1909. Interest April 1 at the .State liscal agency In New
York City. Maturity part yearly on April 1 from 1014 to 1925 Inclusive.
Westtrn-—’$10,000 4 H % 5-20-year (optional) water bonds purchased at
par. Date Mav 1 1909. Interest semi-annually at the State liscal agency
fn N»w York City.
Newcastle School District No. 1, Wyo.— Bond Sale.— O n
J u ly 5 th e $ 1 0 ,0 0 0 5 %
1 5 - 2 4 - y e a r ( s e r ia l) c o u p o n t a x - f r e e
s c h o o l b o n d s , d e s c r ib e d in V . 8 8 , p . 1 6 3 8 , w e r e a w a r d e d t o
J . H . C a u se y & C o . o f D e n v e r a t 1 0 2 .5 4 5 a n d a c c ru e d in t e r
e st.
T h e o t h e r b id d e r s w e r e t h e S t a t e T r e a s u r e r a n d S . A .
K e a n & C o ., A . B . L e a c h & C o ., E . H . R o llin s & S o n s a n d
C o f f in & C r a w f o r d , a l l o f C h i c a g o .
New Rochelle, N. Y . — Bond Sale.— ’A
lis t o f th e b id s r e
c e i v e d o n J u ly 6 f o r t h e $ 5 3 , 0 0 0 5 % r e g i s t e r e d S e r ie s “ C ”
r e li e f b o n d s d e s c r ib e d in V . 8 9 , p . 6 2 , f o l l o w s :
Yonkers’ Sav, I3k., Y onk.$55,416
Kountze Bros., New York 55,157
New Rochelle Trust C o.,
New R ochelle. ________ 55,050
Maturity part yearly on May l
8 0 1N. W . Harris & C o., N. Y .$ 55 ,0 3 7
10| Adams & C o., New Y ork . 55,028
I First Nat. Hank, C levc___ 54,798
0 0 1Farson, Son & Co., N. Y -_ 53,861
from 191 1 to 1919 ncluslve.
32
00
00
25
Oakley (P. O. Cincinnati), Ohio.— Bonds Voted.—
A t an
e le c t io n h e ld J u ly 1 a p r o p o s it i o n t o is s u e $ 1 3 , 0 0 0 4 % w a t e r ,
s e w e r a n d s t r e e t b o n d s c a r r ie d b y a v o t e o f 1 4 6 “ f o r ” t o
1 5 “ a g a i n s t .”
B i d s f o r t h e s e b o n d s , w e a r e a d v i s e d , w ill b e
r e c e iv e d w it h in t h i r t y d a y s .
Oakville School District (P. O. Oakville), Louisa County,
la. — Bond Sale.— T h i s d is t r ic t h a s s o l d $ 7 , 7 0 0 4 j ^ % s c h o o l
bon d s.
T h e y a r e n o w b e in g o f f e r e d t o in v e s t o r s a t 1 0 3 . 3 9
a n d a c c r u e d in t e r e s t b y C u t t e r , W a l l e r & M a y o f C h ic a g o .
Date July 1 1909. Interest semi-annually at the Live Stock Exchange
National Bank In Chicago. Total bonded debt this Issue. Assessed valua
tion $308,000. Real valuation (estimated) $472,000.
Ogdensburg, N. Y .— Bond Sale.—
O n J u ly 8 $ 6 ,0 0 0 4 %
sc h o o l b o n d s w ere a w a r d e d to th e S t . L a w r e n c e C o u n ty
S a v in g s B a n k fo r $ 6 ,0 1 0 ( 1 0 0 .1 6 6 ) a n d a c c r u e d in te r e s t.
Denominations: $250, $500 and $1,000. Date, May 1 1905. Interest
semi-annual. Maturity $2,000 on July 1 In each of the years 1923, 1924
and 1925.
Paterson, N. J.— Bond Sale.— W . N . C o lo r & C o . o f , N e w
Y o r k w e r e t h e s u c c e s s fu l b id d e r s o n J u ly l f o r t h e $ 1 9 5 , 0 0 0
2 5 - y e a r s c h o o l a n d t h e $ 8 5 , 0 0 0 1 0 -y e a r p e r m a n e n t s t r e e t im p r o v e m e n t 4 %
c o u p o n ( w i t h p r i v i l e g e o f r e g i s t r a t io n )
b o n d s d e s c r ib e d in V . 8 8 , p . 1 6 3 9 .
T h e p r ic e p a i d b y t h e m
w a s 1 0 0 . 5 1 — a b a s is o f a b o u t 3 . 9 7 3 % — f o r t h e s c h o o l b o n 'd s
a n d 1 0 0 . 2 1 — a b a s is o f a b o u t 3 . 9 7 5 — f o r t h e s t r e e t b o n d s .
A j o i n t b id o f 1 0 0 .2 6 f o r t h e f o r m e r is s u e a n d 1 0 0 .0 2 f o r t h e
la t t e r is s u e w a s r e c e iv e d f r o m R h o a d e s & C o . a n d F e r r is &
W h ite , b o th of N ew Y o r k .
Peek3kill, N. Y . — Bond Sale.—
O n J u ly 8 th e $ 8 0 ,0 0 0
3 0 - y e a r w a t e r b o n d s , d e s c r ib e d in V . 8 9 , p . 6 2 , w e r e a w a r d e d
t o F e r r is <fc W h i t e o f N e w Y o r k C i t y f o r $ 8 0 , 0 3 7 ( 1 0 0 . 0 4 6 )
fo r 4 .0 5 s .
Philadelphia, Pa.— Loan Bill
h a s s ig n e d t h e $ 5 , 7 3 9 , 7 0 0 lo a n
C o u n c i ls .
See V . 8 8 , p . 1333.
Signed.—
b ill
M ayor R eybu rn
r e c e n tly p a sse d b y
Pittsburg School District (P. O. Pittsburg), Camp
County, Texas.— Bond Offering.— P r o p o s a l s w ill b o r e c e iv e d
a t o n c e fo r $ 3 0 ,0 0 0 4 j ^ %
2 0 -4 0 -y e a r
(o p tio n a l) b o n d s .
T h e s e b o n d s t a k e t h e p la c e o f t h e $ 9 , 0 0 0 5 % b o n d s v o t e d
o n A p r il 6 ( V . 8 8 , p . 1 2 1 2 ).
D a t e J u ly 1 0 1 9 0 9 .
In tere st
s e m i-a n n u a l.
C . L . T u r n e r is S u p e r i n t e n d e n t o f S c h o o ls .
1931
to
1 9 3 8 in c lu
Port Chester, N. Y . — Bond Sale.— O n J u l y 6 t h e f o l l o w i n g
5 % g o ld b o n d s w e re a w a r d e d to G e o . M . H a h n o f N e w Y o r k
C ity :
$25,000 00 tax-relief bonds, awarded at 101.69. Denomination $1,000.
Maturity July 15 1912.
6,375 60 King Street paving bonds, awarded at 103.87. Denomination
5500, except one bond fo r $375 60. Maturity $375 60 on
July 15 1910 and $500 yearly on Julv 15 from 1911 to 1922
inclusive.
Portland, Me.— Railway Stock Sold in Part.— O n J u l y 6
b i d s w e r e r e c e iv e d f o r 9,420 o f t h e 22,061 1-10 s h a r e s ( p a r
v a l u e $2,206,100) o f t h e P o r t l a n d & O g d e n s b u r g R y . C o .
sto c k o w n ed b y th e c ity .
T h e b i d s w e r e a c c e p t e d .” T h e
s t o c k w a s o f fe r e d a t n o t le s s t h a n $47 50 a s h a r e a n d w i t h
b u t th r e e e x c e p tio n s t h a t w a s th e p r ic e b id .
T h e sto c k
w a s s o ld a s fo llo w s :
P u rch a ser—
N o . o f S h a res.
United States Trust C o________2,000
Ii. D . Noyes (Canal B an k)--.5 2 ,0 0 0
Maine Savings Bank___________ 1,253
Mercantile Trust C o___________ 1,150
Augusta Savings Bank_________ 500
H. M. Payson & C o___________ 500
E. L . W rengen________________ 457
400
Portland Trust C o_____________
c
a Offered $47.55 per share,
Bid $47,625 per share.
b
P u rch a ser—
N o . o f S h a res.
Union Safe Deposit Co.
_____ 309
Tlm berlake & W e b b ............. ....... 3 0 0
Mason & M errill.....
c200
George J. Babson. .
.
«100
Herbert A . Clay . .............
50
W illiam F. R u s se ll..
40
A. C. R an d all...............................
40
20
C. O. Barrows_____
$47.50 per share
and
$5
prem ium .
Ray County (P. O. Richmond), Mo.— Bond Sale.— T h e
$ 2 5 , 0 0 0 5 % c o u p o n p o o r - h o u s e -c o n s t r u c t i o n b o n d s d e s c r ib e d
in V . 8 8 , p . 1 1 5 7 , h a v e b e e n p u r c h a s e d b y t h e W m . R .
C o m p to n B o n d & M o rtg a g e C o . o f S t . L o u is .
Date June 30 1909. Interest semi-annually at the County Treasurer's
office In R ichm ond. Maturity on June 30 as follows: $10,000 In 191*
and $15,000 In 1911.
Reading, Pa.— Loan Authorized by Common Council.—
A n o r d in a n c e p r o v id in g fo r a lo a n o f $ 4 0 0 ,0 0 0 w a s , a c c o r d in g
t o lo c a l p a p e r s , a u t h o r i z e d b y t h e C o i p m o n C o u n c il o n
June 2 8 .
I t n o w g o e s t o t h e S e l e c t C o u n c il f o r i t s a p p r o v a l .
Reeves County Common School District No. 4, Tex.—
Bond Sale.—
T h e $ 5 ,0 0 0 5 %
2 0 -y e a r s c h o o l-h o u s e b o n d s
re g iste re d b y th e S t a t e C o m p tr o lle r o n D e c . 9 1 9 0 8 ( V . 8 8 ,
p . 2 4 9 ) w e r e a w a r d e d o n J u ly 1 t o t h e S t a t e S c h o o l F u n d
a t p a r a n d in te r e s t.
Rockford Park District (P. O. Rockford), 111.— Bond Sale.
— A n is s u e o f $ 1 0 0 , 0 0 0 4 % 1 0 - 1 9 - y e a r ( s e r ia l) b o n d s h a s b e e n
a w a r d e d to D e v i t t , T r e m b le & C o . o f C h ic a g o a t p a r .
It w as
a t fir s t r e p o r t e d t h a t o n l y $ 6 0 , 0 0 0 b o n d s w o u l d b e d i s p o s e d
o f fo r th e p r e s e n t ( V . 8 9 , p . 6 3 ) , b u t th e d is t r ic t s u b s e q u e n t ly
d e c id e d t o s e ll t h e e n t i r e i s s u e .
D e n o m in a tio n $ 1 ,0 0 0 .
D a t e J u ly 1 1 9 0 9 .
In te r e s t s e m i-a n n u a l.
Rogers County (P. O. Claremore), Okla.— Bonds Not Sold.
— T h e C h a ir m a n o f th e C o u n t y C o m m is s io n e r s a d v is e s u s
t h a t t h e o f f e r in g o f t h e $ 1 0 0 , 0 0 0 c o u r t - h o u s e a n d j a i l a n d
t h e $ 1 5 0 , 0 0 0 r o a d a n d b r i d g e b o n d s , w h ic h w a s t o h a v e t a k e n
p la c e J u ly 1 ( V . 8 8 , p . 1 6 3 9 ) , d id n o t o c c u r , o w in g t o t h e
f a c t t h a t a n e rro r w a s d i s c o v e r e d in t h e p r o p o s e d i s s u e .
He
f u r t h e r s t a t e s t h a t i t w ill b e n e c e s s a r y t o s u b m i t t h e p r o p o s i
t i o n t o t h e e le c t o r s , a f t e r w h i c h , if f a v o r a b l y v o t e d , t h e y
w ill a g a i n b e p r e s e n t e d t o t h e p u b l i c .
St. Francis Drainage District, Clay and Greene Counties,
Ark.— Bonds Proposed.— R e p o r t s h a v e it t h a t t h i s d i s t r i c t
w ill w ith in th e n e x t s ix t y
$ 2 0 0 ,0 0 0 b o n d s .
days
o ffe r fo r
St. Paul, Minn.— Bond Offering.—
sa le a n
P ro p o sa ls
w ill
is s u e o f
be
re
c e i v e d u n t il 1 2 m . J u ly 2 0 b y L o u i s B e t z , C i t y C o m p t r o l l e r ,
fo r th e fo llo w in g 4 %
b on d s:
$150,000 high-school-buikllng bonds dated July 1 1909.
150,000 main-sewer-bonds dated July 1 1909.
50.000 maln-scwer bonds dated Aug. 1 1909.
50.000 central police station bonds dated June 1 1909.
50.000 park bonds dated Aug. 2 1909.
50.000 water-works bonds dated July 1 1909.
25.000 play-ground bonds dated June 1 1909.
Interest semi-annually at the financial agency of St. Paul In New Y ork
City. Maturity thirty years. Bids for “ all or none” will not be consid
ered. Certified check for 2 % of bonds bid for, payable to the C ity Treas
urer, Is required.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Saline County (P. O. Marshall), Mo.— Bond Sale.— O n
Plainview Independent School District (P. O. Plainview),
Hale County, Tex.—Bond Sale.— T h i s d is t r ic t s o l d $ 3 0 , 0 0 0
J u l y 6 t h e $ 3 5 , 0 0 0 4 ^ % c o u p o n p o o r - h o u s e b o n d s d e s c r ib e d
in V . 8 8 , p . 1 3 3 4 , w e r e a w a r d e d t o t h e M e r c a n t i l e T r u s t C o .
o f S t . L o u is a t 1 0 0 .5 9 a n d c o s t o f b la n k b o n d s a n d a c c r u e d
in te r e st.
T h e b id s w e re a s fo llo w s :
5 % 1 5 - 4 0 - y e a r ( o p t i o n a l ) s c h o o l -h o u s e b o n d s o n J u l y 1 t o
t h e S t a t e S c h o o l F u n d a t p a r a n d in te r e s t.
T h e y h a v e been
r e g is t e r e d b y t h e S t a t e C o m p t r o l l e r .
M ercantile Tr. C o., St. L .535,206 501 Mississippi Valley Trust
Farm ers’ Savings B a n k .. 35,201 00
C o., St. L ouis. _________ $35,120 40
W ood & Huston Bank___ 35,180 00[John B . Davis (for 5 bds.)
491 1#
M aturity $7,000 payable each year.
Pleasanton, Linn County, Kan.— Bond Sale.— T h i s t o w n
h a s s o l d $ 8 , 0 0 0 5 % 6 - 2 0 - y e a r ( o p t i o n a l ) w a t e r -w o r k s b o n d s .
T h e is s u e is n o w b e in g o f fe r e d t o in v e s t o r s b y R . W . M o r r is o n
& C o . of K a n sa s C ity . .
San Fernando School District, Los Angeles County, Cal.—
Bond Sale.—
T h e A m e r ic a n S a v in g s B a n k o f L o s A n g e le s ,
it is s t a t e d , h a s b e e n a w a r d e d a n is s u e o f $ 3 , 5 0 0 b o n d s o f
th is d is tr ic t a t 1 0 1 .3 6 6 .
THE CHRONICLE
120
San Francisco, Oal.— Bonds Atoarded.— -T h e $ 2 4 0 , 0 0 0 4 5 4 %
1 - 6 - y e a r ( s e r ia l) w a t e r - s u p p l y b o n d s w h ic h w e r e a d v e r t i s e d
t o Ire s o l d M a y 1 7 ( V . 8 8 , p . 1 2 7 1 ) h a v e b e e n a w a r d e d t o
J a m e s H . A d a m s & Co. o f L o s A n g e l e s a t 1 0 1 . 2 7 a n d a c c r u e d
i n t e r e s t — 'a b a s i s o f a b o u t 4 . 1 0 7 % .
T h e f o l l o w i n g b id s w e re
r e c e iv e d fo r th e b o n d s o n M a y 1 7 :
Jas. H- Adams & Co., L,osA.$2 13,050! G. G. Blym yer & C o., San F .$240,840
E .H .RollIns& Sons.SanFran. 242,0101
T he salo of these bonds was held up by an Injunction which was recently
dissolved by the Superior Court, Judge Seawall holding that the Issue was
legally offered for sale.
Seneca Township, Seneca County, Ohio.— Bond Sale. — On J u l y 3 t h e 5 1 6 , 0 0 0 4 ) 4 % c o u p o n r o a d - i m p r o v e m e n t
b o n d s d e s c r i b e d in V . 8 8 , p . 1 5 7 6 , w e r e a w a r d e d , i t is s t a t e d ,
to N o r m a n D u n n o f T iffin a t 1 0 2 .4 5 .
M a tu r ity $ 5 0 0 e a c h
s i x m o n t h s f r o m March 1 1 9 1 0 t o S e p t . 1 1 9 2 4 i n c l u s i v e .
Shelby, Ohio.— Bond Sale.— O n J u l y 7 $ 4 , 5 0 0 4 % s t r e e t im p r o v e m e n t b o n d s w e re a w a r d e d to th e C itiz e n s ’ B a n k o f
S h e lb y a t p a r a n d a c c ru e d in t e r e s t .
Denominations: 10 bonds of $119 each and 1 0 bonds of $331 each. D ate.
July 1 1900. Interest semi-annual. Maturity from one to ten years.
Shelby County (P. 0 . Sidney), Ohio.— Bond Sale.— O n
J u ly 3 th e $ 4 ,8 0 0 4 ) 4 % d it c h b o n d s d e s c r ib e d in V . 8 9 ,
p . 6 4 , w e re a w a r d e d to th e F ir s t N a t io n a l B a n k o f S id n e y
at par.
Sheldon Independent School District, Iowa.— Bond Sale.—
T h e T r o w b r id g e
4 )4 %
&
N iv e r C o . o f C h ic a g o p u r c h a se d $ 2 3 ,0 0 0
b o n d s o f t h is d i s t r i c t .
Denomination $1,000. Date June 1 1909. Interest semi-annually In
Chicago at the State flank. Maturity June l 1919, $8,000 subject to call
after June 1 1914. Bonded debt, this Issue. Assessed valuation 1908,
$494,470.
C i t y , Grant County, New Mexico.— Bond Sale. —
o f $ 5 0 , 0 0 0 5 % 2 1 - 3 0 - y e a r ( s e r ia l) r e f u n d i n g b o n d s
h a s b een b o u g h t b y th e VVm . I t . C o m p to n B o n d & M o r tg a g e
Silver
An is s u e
C o . of S t . L o u is .
Denomination $500. Date July 1 1909. Interest semi-annually at the
Hanover National Bank In New Y ork City. Bonds are tax-exem pt.
Total debt, Including this Issue, $62,000. Assessed valuation $725,000.
Solvay, Onondaga County, N. Y .— Bond Sale.—T h e
$ 1 5 0 , 0 0 0 5 - 2 9 - y e a r ( s e r ia l) s t r e e t - i m p r o v e m e n t b o n d s o f f e r e d
o n J u n e 1 5 ( V . 8 8 , p . 1 4 5 8 ) , h a v e b e e n a w a r d e d to C . E .
D e n is o n & C o . o f C le v e la n d a t p a r , a p r e m iu m a n d a c c ru e d
in te r e s t fo r 4 ) 4 S -
South Norwalk, Fairfield County, Conn.— Bond Sale.— We
a r e a d v i s e d t h a t o f t h e t h r e e is s u e s o f b o n d s , a g g r e g a t i n g
$ 1 7 0 , 0 0 0 , b i d s f o r w h ic h w e r e r e j e c t e d o n J u n e 16 ( V . 8 9 ,
p . 6 4 ) , $ 1 6 1 ,0 0 0 w o re s u b s e q u e n t ly d is p o s e d o f a n d n o t th e
e n t i r e t h r e e is s u e s , a s w a s fir s t r e p o r t e d b y u s .
T he bonds
w ere a w a r d e d , $ 1 0 0 ,0 0 0 to th e S o u th T r u s t C o . a t 101 a n d
$ 6 1 ,0 0 0 to th e N o r w a lk S a v in g s S o c ie t y a t 1 0 1 .
Stamford, Jones County, Tex.— Description of Bonds.—
T h e $ 2 0 ,0 0 0 5 %
1 0 -4 0 -y e a r (o p tio n a l) s t r e e t-im p r o v e m e n t
b o n d s s o ld la s t M a y a n d r e g is te r e d b y th e S t a t e C o m p tr o lle r
o n J u n e 7 ( V . 8 8 , p . 1 5 7 6 ) a r e d a te d A p ril 15 1 9 0 9 .
They
a r e n o w b e i n g o f f e r e d t o i n v e s t o r s a t 1 0 5 .6 4 a n d a c c r u e d in
te r e s t b y C u tte r , W a lle r & M a y o f C h ic a g o .
D e n o m in a tio n
$ 1 ,0 0 0 .
I n t e r e s t s e m i - a n n u a l l y in N e w Y o r k C i t y .
Sylvester Independent School District (P. O. Sylvester),
Fisher County, Tex.— Bond Sale.— T h e S t a t e S c h o o l F u n d
p u r c h a s e d o n J u ly 1 $ 8 , 0 0 9 5 % 1 0 - 2 0 - y e a r ( o p t i o n a l ) s c h o o l h o u s e b o n d s a t p a r a n d a c c r u e d in te r e s t.
T h e s e c u r i t ie s
h a v e b e e n re g iste re d b y th e S t a t e C o m p t r o lle r .
Sylvia School District (P. O. Sylvia), Reno County, Kan.
— Bond Sale.—
A n is s u e o f $ 1 0 , 5 0 0 4 ) 4 %
s c h o o l-b u ild in g
b o n d s h a s b e e n b o u g h t b y R . W . M o r r is o n & C o . o f K a n s a s
C ity .
Denomination $500. Date April 15 1909. Interest Jan. 1 and July t
at the tlscal agency In Topeka. Maturity 5500 Jan. I 1915, $1,000 yearly
from 1916 to 1922 inclusive and $1,500 In each of the years 1923 and 1924.
Bonded debt, this Issue. Assessed valuation 1908, $710,000.
Tacoma, Wash.—Bond Sale. — O n J u n e 3 0 t h e $ 3 0 0 , 0 0 0
b r i d g e a n d $ 7 5 , 0 0 0 d r a i n a g e 2 0 - y e a r b o n d s d e s c r i b e d in V .
8 8 , p . 1 5 7 6 , w ere a w a r d e d to t h e F id e lity T r u s t C o m p a n y
o f T a c o m a a t 1 0 3 .4 3 a n d a c c r u e d in te r e s t fo r 4 ) 4 s .
The
fo llo w in g b id s w e re a lso r e c e iv e d , b a s e d o n
4 )4 %
bon d s:
McCoy & C o.. Chicago. .$381,375 00 Harris Tr. & Sav. B k,C hi.$381,713 00
A. B . Leach & C o., Chic 375,225 00
W oodln , McNear & Moore
& Mayer,
Chicago ....... ............... 382,968 75 Seasongood
C in c in n a t i.................... al02,660 00
T . J. Flolger C o., and
Trowbridge & NIver
C o., Chicago_________ 381,937 51
a For $100,000 bonds.
A bid of $391,701 for 5s was received from W ell, R oth & Co. o f Cincinnati.
Teague Independent School District (P. O. Teague), Free
stone County, Texas.— Bond Sale. — O n J u l y 1 t h e $ 4 0 , 0 0 0
[VOL. L I I H I .
T o l e d o , O h i o .— Bond Sales for the Second Quarter.— T h e
fo llo w in g issu e s o f 5 % c o u p o n a s s e s s m e n t b o n d s , a g g r e g a tin g
$ 1 4 2 ,6 3 2 2 8 , w ere p u r c h a se d a t p a r b y th e S in k in g F u n d
d u r in g th e q u a r te r e n d in g J u n e 3 0 :
$2,172 20 First Street paving bonds. Denomination $225, cxcopt one bond
of $147 20.
Date March 24 1909. Maturity part each year from
March 24 1910 to Sept. 14 1914 inclusive.
791 72 alley-im provem ent No. 42 bonds. Denomination $85, except
one bond of $26 72. Date March 28 1909. Maturity part each
six months from March 28 1910 to Sept. 28 1914.
4,150 42 Earl Street paving No. 1 bonds. Date April 7 1909.
328 08 Sewer No. 1063 construction bonds. Date June 13 1909.
167 36 Sewer No. 1066 construction bonds. Date June 11 1909.
487 54 sewer No. 1053 construction bonds. Denomination $130, ex
cept one bond of $97 54. Date April 7 1909. Maturity part
each six months from March 7 1910 to Sept. 7 1911 Inclusive.
536 85 sewer N o. 1052 construction bonds. Denomination $145, ex
cept one bond of $101 85. Date April 7 1909. Maturity part
each six months from Marcli 7 1910 to Sept. 7 1911 inclusive.
87,475 32 sewer No. 999 construed n bonds. D ale .la . 14 1909. Ma
turity part each six m onths from March 14 1910 to Sept. 14
1914 inclusive.
1,019 40 sewer No. 1054 construction bonds. Denomination $26.>, e x
cept one bond of $224 40. Date May 19 1909. M aturity part
each six months from March 19 1910 to Sept. 19 1911 Inclusive.
1,208 96 sewer No. 1058 construction bonds. Denomination $313, e x
cept one bond of $263 96. Date -May 0 1909. M aturity part
each six months from March 6 1910 to Sept. 6 1911 inclusive.
1,428 82 sewer No. 1037 construction bonds. Denomination $365, e x
cept one bond of $333 82. Date .May 30 1909. Maturity part
each six months from March 30 1910 to Sept. 30 1911 inclusive.
1,064 91 sewer No. 1071 construction bonds. Denomination $270, ex
cept one bond of $254 91. Date June 6 1909. Maturity part
each six months from March 6 1910 to Sopt. 6 1911, inclusive.
626 19 sewer No. 1065 construction bonds. Denomination $100, e x
cept one bond of §146 19. Date Juno 15 1909. Maturity part
each six months from March 15 1910 to Sept. 15 1911 Inclusive.
3,014 24 Missouri Street paving bonds. Denomination $310, except one
bond of $254 24. Date March 27 1909. Maturity part each six
months from March 27 1910 to Sept. 27 1914 inclusive.
3,040 06 alley-im provem ent No. 14 bonds. Denom ination $310, except
one bond of $256 06. Date March 21 1909. M atu rity part each
six months from March 21 1910 to Sept. 21 1914 inclusive.
3,370 10 sewer No. 1018 construction bonds. Denomination $855, except
one bond of §805 10. Date April 9 1909. Maturity part each
six m onths from March 9 1910 to Sept. 9 1911 inclusive.
2,800 69 sewer No. 1046 construction bonds. Denomination $730, except
one bond of $610 69. Date March 20 1909. Matur ty part each
six months from March 20 1910 to Sopt. 20 1911 Inclusive.
767 28 sewer No. 1015 bonds. Denomination $200, oxccpt ono bond of
$t67 28. Date April 26 1909. Maturity part each six m onths
from March 26 1910 to Sept. 26 1911 Inclusive.
4,166 10 Michigan Street paving bonds. Denomination $425, except one
bond of $341 10. Date April 4 1909. Matur ty part each six
months from March 4 1910 to Sept. 4 1914 Inclusive.
5,621 42 Vance Street paving bonds. Denomination $575, except one
bond of $146 42. Date March 12 1909. Maturity part each six
months from March 12 1910 to Sept. 12 1914 Inclusive.
2,847 11 B oody Street paving bo ids. Denomination $290, except one
bond of $237 11. Date March 23 1909. Maturity part each six
months from March 23 1910 to Sept. 23 1914 Inclusive.
4,056 88 Sco wood Avenue repairing bonds. Denom lna Ion $415, except
one bond of §321 88. Date April 10 1909. Maturity part each
six months from March 10 1910 to Sept. 10 1914 Inclusive.
5,951 60 Glenwood Avenue paving bonds.
Denomination $600, except
one bond of $551 60. Date April 24 1909. Maturity part each
six months from March 24 1910 to Sept. 24 1914 inclusive.
5,521 00 FItchland Avenue paving bonds. Denomination $560, except
one bond of $481. Date April 26 1909. M aturity part each six
months from March 26 1910 to Sept. 26 1914 Inclusive.
Interest semi-annually at the Northern National Bank of T oledo.
I n a d d itio n to th e a b o v e th e S in k in g F u n d a ls o b o u g h t
$ 5 5 ,0 0 0 4 ) 4 % 1 5 -y e a r b o u le v a r d b o n d s , d a te d A p r il I 1 9 0 9 ,
at par.
O n M a y 1 0 t h e C i t y C o u n c il a l s o p a s s e d a n o r d i n a n c e p r o
v id in g fo r th e issu a n c e o f $ 1 0 0 ,0 0 0 4 %
1 0 - 1 9 - y e a r ( s e r ia l)
c o u p o n s tr e e t-o p e n in g b o n d s .
D e n o m in a tio n $ 1 ,0 0 0 .
D a te
S e p t. 1 1909.
In te r e s t s e m i-a n n u a lly a t th e U n ite d S t a t e s
M o r t g a g e & T r u s t C o . in N e w Y o r k C i t y .
Travis County (P. O. Austin), Texas.— B o n d Sale.— A n
is s u e o f $ 3 5 , 0 0 0 4 % 1 0 - 4 0 - y e a r ( o p t i o n a l ) r o a d a n d b r id g e
b o n d s w h ic h h a s b e e n r e g i s t e r e d b y t h e S t a t e C o m p t r o l l e r
w a s s o l d o n J u ly 1 t o t h e S t a t e S c h o o l F u n d at p a r a n d
a c c r u e d in t e r e s t .
Troy, N. Y .— Bond Sale— On J u l y 6 a n is s u e o f $ 2 2 , 2 0 0
4 % 1 -2 0 -y e a r s c h o o l b o n d s w a s a w a r d e d to th e M a n u fa c tu r e r s ’
N a tio n a l
Bank of T ro y a t p ar.
D e n o m in a tio n
$ 1 ,1 1 0 .
D a t e J u ly 6 1 9 0 9 .
I n t e r e s t s e m i-a n n u a l.
Tulsa C o u n t y (P. O. Tulsa), Okla.— Bond Offering.—
P r o p o s a l s w ill b e r e c e i v e d u n t i l 1 2 m . J u l y 1 6 , b y C . F .
R o g e r s , C o u n ty C le r k , fo r th e fo llo w in g 5 %
1 0 -2 0 -y e a r
s e r i a l b o n d s : $ 7 5 , 0 0 0 b r id g e b o n d s , $ 2 2 5 , 0 0 0 c o u r t - h o u s e
s it e a n d j a i l b o n d s , $ 4 0 0 , 0 0 0 r o a d b o n d s a n d $ 2 5 , 0 0 0 p o o r h o u se a n d e q u ip m e n t b o n d s .
D e n o m in a tio n $ 1 ,0 0 0 .
In
te re st s e m i-a n n u a l.
C e r t if ie d c h e c k f o r 1 % o f a m o u n t b i d
is r e q u i r e d .
P u rch a ser
p r e p a r e a n d f u r n i s h a ll le g a l
p ro ce e d in g s.
Tupelo, Lee County, Miss.— Bonds Voted.— B y a rote of
2 4 9 “ f o r ” a n d 3 3 “ a g a i n s t ” t h i s c i t y , i t is r e p o r t e d , r e c e n t l y
a u t h o r i z e d t h e is s u a n c e o f $ 2 5 , 0 0 0 b o n d s t o a i d in t h e b u i l d
in g o f t h e T u p e l o P o n t o t o c
& T o c o p o la R R .
Utah.— Bond Sales.—
T h e f o l l o w i n g b o n d s were purchased
5%
1 0 -4 0 -y e a r (o p t io n a l) s c h o o l-h o u s e b o n d s r e g is te r e d b y
b y t h e S t a t e f u n d s d u r in g M a y a t p a r :
t h e S ta t e C o m p tr o lle r o n J u n e 1 6 ( V . 8 8 , p . 1 6 4 0 ) w e re d is
C h arleston , W asatch County— $ 3 ,8 0 0 5 % 10-20-ycar (optional) school
.
.
p o s e d o f t o t h e S t a t e S c h o o l F u n d a t p a r a n d a c c r u e d i n t e r e s t . ’ Im p ro v e m e n t b o n d s, d a te d May 1 1909.
Texas Township (P. O. Plankton), Crawford County,
Ohio.— Bond Offering.— P r o p o s a l s w i l l b e r e c e iv e d u n t i l
1 2 m . J u ly 3 0 b y J . W . M ille r , T o w n s h ip C le r k , f o r $ 1 0 ,0 0 0
4 ) 4 % c o u p o n r o a d -im p r o v e m e n t b o n d s .
Denomination $500. Date July 1 1909. Interest March 1 and Sept. 1.
Maturity $500 eadh six months from March 1 1910 to Sept. 1 1919 inclusive.
Bonds are free from taxation. CertUied check or cash for $100, payable to
the Township Treasurer, Is required. Delivery within 10 days from time
of award. Purchaser to pay accrued Interest. These bonds were offered
as 4s oti June 25, but all bids received on that day were rejected. See
V. 89, p. 64.
Timpson Independent School District (P. O. Timpson),
Shelby County, Texas.—Bond Sale.— T h e $ 9 , 0 0 0 5 %
2 0 -4 0 -y e a r
(o p tio n a l)
s c h o o l-b u ild in g -im p r o v e m e n t b o n d s
d e s c r ib e d in V . 8 8 , p . 1 6 4 0 , w e r e a w a r d e d o n J u l y 1 t o C . I I .
O s f f i n of C h i c a g o for $ 9 , 1 0 1 , t h e p r i c e t h u s b e i n g 1 0 1 . 1 2 2 .
Helper School District, Carbon C ounty— $10 ,00 0 5 % Im provem ent bonds
dated Sept. I 1908. Maturity Sept. 1 1928, subject to oall In 5 years.
Midway, W asatch County— $5,500 5 % 10-20-year (optional) Im prove
ment bonds, dated March l 1909.
,
,
M yton School District. Wasatch C ounty— $5,500 6 % Im provem ent bonds,
dated Sept. 1 1908. Maturity Sept. 1 1928, subject to oall after 10 years.
Victor School District No. 7, Ravalli County, Mont.—
Bond Sale.—
T h e S e a ttle T r u s t & T it le C o . o f S e a ttle w a s
a w a r d e d o n J u ly 1 t h e $ 5 , 3 0 0 c o u p o n s c h o o l b u i l d i n g b o n d s
d e s c r i b e d in V . 8 8 , p . 1 6 4 1 , a t 1 0 0 .0 7 ( 5 a n d a c c r u e d i n t e r e s t
f o r 5 j /£ s .
A b id o f $ 5 ,4 0 6 fo r 6s w a s r e c e iv e d fr o m C . H .
C o f f i n o f C h ic a g o a n d o n e o f p a r f o r 6 * f r o m t h e H e l e n a
T r u s t C o . of H e le n a .
Wake Forest, Wake County, N.
0 . — B ond
S a le . — O n
J u n e 2 t h e $ 1 2 , 0 0 0 5 % 3 0 - y e a r b o n d s , p r o p o s a l s for w h ic h
w ere a d v e r tis e d u n t il M a y 2 4 ( V . 8 8 , p . 1 3 3 5 ) , w ere a w a r d e d
121
THE CHRONICLE
J u l y 10 1909
Westerville, Franklin County, Ohio.—Bond Offering.
to
John
N uyeen
&
Co.
of
C h ic a g o .
D a te
June
1
1909.
I n t e r e s t s e m i-a n n u a l.
„
Warren, Trumbull County, Ohio.— Bond Sale.— O n _ J u l y 6
th e $ 5 0 0 0 5 %
f i r e - s t a t i o n r e f u n d i n g b o n d s d e s c r ib e d in
V
8 0 n 0 4 , w ere a w a r d e d to th e U n io n N a tio n a l B a n k of
W a r r e n a t 1 0 0 .1 0 a n d a c c r u e d in t e r e s t .
T h e b id s w ere as
fo llo w s :
,
ntn nn
,
Union Nat. Bank, W a rren .$5,305 00 First N at. B ank, Cleveland.$5,240 00
H ayden, Miller & C o., Cle. o,230 00
W estern Reserve National
Bank, W arren--------------- 5,298 00 New First National Bank,
5.207 00
C olu m b u s-----------First Nat. B k., G a rrettsv.. 5,283 00
Barto, Scott & C o., C olu m . 5,273 00 W . R . T od d & C o., C lncln. 5.203 00
Seasongood & Mayer, C ln _. 5,203 00 Otis & Hough, C lev elan d ., a ,202 2u
Cleveland Tr. C o., C le v e .. 5,242 50 A. K leybolte & C o.. C l n ... 5,17o 00
C. E. Dennison ______________—
& C o., C le. 5,240 -60 Second Nat. Bank Warren 5,110 00
GW5A11 bidders offered accrued interest In addition to their b ids.
d
■ M a tu r ity $500 each six months from March 1 1914 to Sept, l u
Waterloo, Iowa.— Bonds Not Sold. —
P r o p o s a l s w ill b e r e c e i v e d u n t il 1 2 m . J u l y 1 3 b y
H o r lo c k e r , V illa g e C le r k , fo r th e fo llo w in g 4 K %
m en t assessm en t bon d s:
$6,300 East College Avenue bonds. p enom lnatlon $700.
5,400 B roadw ay Street Improvement bonds. Denomination Jbou
Date July 15 1909.
A n u n ^ n d ltS
payable to Elsworth H orlocker, Clerk, Is required.
S a Z e .—
T h is to w n h a s d isp o se d o f $ 5 0 ,0 0 0 4 %
1 - 2 5 - y e a r ( s e r ia l)
sch oo l b o n d s .
D e n o m in a tio n $ 1 ,0 0 0 .
D a te A p ril 1 1 J 0 9 .
In t e r e s t s e m i-a n n u a l.
Westmont (P. O. Johnstown), Cambria County, Pa. ■
Bond Sale— T h e
$ 1 0 ,0 0 0 5 %
5 -2 0 -y e a r (o p tio n a l) co u p o n
s tr e e t b o n d s o ffe re d o n J u n e 7 ( V . 8 8 , p . 1 4 5 9 ) w ere a w a r d e d
t o t h e W a s h i n g t o n I n v e s t m e n t C o . o f P itts b u r g h o n a 4 . 8 5 %
N o b i d s w e r e r e c e iv e
b a s is .
Whatcom County School District No. 58, Wash.— Bond
T h e b o n d s w ill b e r e - a d v e r t i s e d .
Offering.- -P r o p o s a ls
w ill
Sale— A n
be
r e c e i v e d u n t i l 3 p . m . J u l y 1 3 b y P . b a r s f ie l d C u n n if f , C h a ir
m a n S e le c t m e n , $ 1 2 ,5 0 0 4 % c o u p o n ‘ m u n ic ip a l^ n a o t e s . ^
Wichita School District (P.
County, Kans.—Bond Offering.—
s i ? r> 000 4 14% lilgh-school-bulldlng bonds. Denom ination not less than
$ 1 2 o. uuu 4 * i /o
Maturity 20 years, subject to call after 10 years.
5 0 000 5%
crade-school bonds. Denomination $100. Matur ty part
00’
'
every even year from 2 to 10 years Inclusive.
1
interest semi-annually at the State Treasurer’s office In Topeka. Certlned Check or ^ s h for 2 % of bonds bid for. payable to E. A. Dorsey. Treas
urer, Is required.
a s fo llo w s : $ 2 ,0 0 0 to t h e W o o s t e r C o m m e r c ia l
o o s t e r a t 1 0 0 . 5 0 , a n d $ 8 , 0 0 0 t o F r e d e r ic k 1 'ik e o f
f o l l o w s : $ 4 , 0 0 0 ’ a t 1 0 0 . 2 5 , $ 2 , 0 0 0 a t 100 4 5 a n d
1 0 0 .3 0 .
M a tu r ity $ 2 ,0 0 0 e a c h s ix m o n th s f io i n
Will County (HI.) School District No. 90.— Bonds Offered
by Bankers.—
t o is s u e
b e su b
m i t t e d t o a v o t e o f t h e p e o p l e o n J u ly 1 3 .
I t w a s o r ig i n a l y
n r o p o s e d to h o ld a n e le c tio n J u n e 2 9 t o v o t e o n th e issu a n c e
of $6 500! b o n d s.
T h is o r d in a n c e w a s r e p e a le d
how ever,
a s it w a s d is c o v e r e d t h a t t h a t a m o u n t w a s n o t s u ffic ie n t
NEW
T r o w b r id g e
&
5%
N iv e r
Co.
of
C h ic a g o
is
b o n d s o f th is d is t r ic t.
Denomination $500. Date June 1 1909. Interest semi-annually at the
First National Bank In L ockport. Maturity on June 1 as follows: $500
yearly from 1914 to 1918 inclusive, $1,000 yearly from 1919 to 1924 lncla^We and $2,000 in each of the; years; 1925,1926 and 1927. Bonded debt
$14,500. Assessed valuation 1908, 529-,887. ^
1 1 9 1 0 to J u ly 1 1 9 1 2 in c lu s iv e .
LOAN S.
The
o f f e r in g t o i n v e s t o r s $ 1 4 , 5 0 0
Webb City, Mo.— Bond Election.— A p r o p o s i t i o n
$8 500 5 %
10- 20 - y e a r ( o p t i o n a l ) s e w e r b o n d s w ill
NEW
Sedgwick
w e ll, S e c r e ta r y , fo r t h e fo llo w in g b o n d s :
c o r d h w t o r e p o r t s t h e $ 1 0 , 0 0 0 4 y2% c o u p o n c o u r t - r o o m ? e u a ? b o n d s , d e s c r i b e d in V . 8 8 , p . 1 0 4 0 , w e r e d is p o s e d o f
J u ly
O. Wichita),
P r o p o s a l s w ill b e r e c e iv e d
u n t il 12 m . J u ly 1 2 b y t h e B o a r d o f E d u c a t i o n , C . S . C a ld
County (P. O. Wooster), Ohio.— Bond Sale.— Ac-
onP T n lv 8
B a n k 6f W
C r csto n as
$2 000 at
is s u e o f $ 7 , 0 0 0 b o n d s o f t h i s d i s t r i c t h a s , a c c o r d i n g
to r e p o r ts , b e e n p u r ch a se d b y th e S ta te o f W a s h in g to n .
i S & S r J S S Has
HVW a y n e
1 urchaser to pay
aCWest Hoboken, Hudson County, N. J.— Bond
o n J u ly 2 f o r t h e $ 4 0 0 ,0 0 0 4 % c o u p o n b o n d s ( V 8 8 , p . l
to p u rch a se a n d e x te n d th e w o rk s o f th e W a te r lo o W a t e r L o .
Watertown, Mass .-N o te
F sw or
im p r o v e
Wise County Common School District, Texas.
Bond Sale.
— T h is d is t r ic t d is p o s e d o f $ 1 0 ,0 0 0 5 % 1 0 -2 0 -y e a r (o p t io n a l)
s c h o o l-h o u s e b o n d s o n J u ly 1 .
lh e S ta te S ch oo l F u n d v a s
NEW
LOAN S.
LOAN S.
8 5 2 5 ,0 0 0
8 2 2 ,0 0 0
SI 2 5 , 0 0 0
CITY OF ST. PAUL BONDS
CITY OF HOBOKEN, N. J. CITY OF HOBOKEN, N. J.
P ublic notice If hereby given that, in accord
ance with a resolution of the Council of the City
•f H oboken, pa.scd June 23, 1909, and duly
ami roved June 24, 1909, scaled
proposals
for the purchase of bonds of the City of H oboken,
N . J ., to be known as R e-pavem ent Bonds,
In the am ount of one hundred and twenty-hve
thousand dollar*, to bear interest at the rate
of four per cent (4 per cent) per annum, payable
semi-annually, and to run for a period of thirty
years from the date of Issue, and to be issued
pursuant to the provisions of an Act of the Lejrislaturo of the State of New Jersey, entitled An
A ct providing for the repavem ent of paved streets
to cities of th S State, and for the Issuance of
bonds In paym ent therefor,” approved March 2,
1898, will he received at the regular m eeting o
the Council to be held
W ednesday A fternoon, July 28, 1909
at four o clock
. ,
Bids will be received for one or more or all or
said bonds, which shall he of the denom ination
of $1,000 each, to run consecutively
1 to
125, both Inclusive, to be registered or coupon
at the option o f the successful bidder.
All proposals to he addressed to the Mayor
and Council of the City of H oboken. N . J-. and
shall he accom panied b y a certified check or cash
for live per cent of the am ount of the hid.
The Mayor and Council of the City of Hoboken
reserve tho right to reject any or all bids If deemed
In the Interest of the city so to do.
B y order of the Council.
JAM
jA M rES
,o H
i .. L O N D R IG AcNit. y Clerk
Albert Kleybolte &
409
W a ln u t
S tr e e t,
Co.,
C IN C IN N A T I, O .
M unicipal,
County,
S ta te,
and High-Grade Public Service
Securities
Correspondence Solicited
HUNT, SAITONSTALL £ C0 „
Pufillc notice Is hereby given that. In accord
ance with a resolution of the Council of the City
of H oboken, passed June 23, lu oy , ana auiy
approved June 24, 1909,
sealed proposals
for the purchase of bonds o ^ h e City of H oboken,
N. J ., to be known as W ater Bonds , in the
am ount of tw enty-tw o thousand doUars. to bear
Interest at the rate of four per cent (4 per cent)
per annum, payable semi-annually, and to run
or a period of thirty years from the date of
issue, and to be Issued pursuant to the provisions
of an A ct of the Legislature of the State o f New
Jersey, entitled “ an Act authorizing cities of Jthis
State to Issue and sell water bonds, and providing
for the application of the proceeds resulting from
the same thereof, and providing for the payment
of the principal of and Interest on said bonds
approved April 21, 1909, will be received at the
regular meeting of the Council to he held on
W ednesday Afternoon, July 28, 1909
at four o ’clock
Bids will be received for one or more or all of
said bonds, which shall be of the denomination
of $1,000 each, to run, consecutively from 1 to
22, both inclusive, to he registered or coupon at
the option of the successful bidder.
All proposals to he addressed to the Mayor and
Council of the City of H oboken, N. J ., and shall
be accom panied by a certified check or cash for
ilvc per cent of the amount of the bid.
The Mayor and Council of the City of H oboken,
reserve the right to reject any or all bids If deemed
In the Interest of the city to to do.
B y order of the Council.
JAM ES H . L O N D R IG A N ,
City Clerk.
G U A R A N TEED
BONDS
P in ©
S T R E E T
S lr c e t ,
s o ld
at
n o o n J u ly 2 0 th ,
1909
City Comptroller’s Office, July 2 1909.
Notice Is hereby given that the C ity of St.
Paul, Minnesota, b y and through Its Sinking
Fund Committee will receive sealed bids for the
purchase of the whole or any part of $525,000 00
of bonds described as follows:
$150j000 00^ for High School Buildings, dated
All Issuos
B A N K E R S
30
be
O F F IC IA L A D V E R T IS E M E N T .
A. H. Bickmore & Co.,
$150,000 00 for Main Sewers, dated July 1 1909.
$50,000 00 for Main Sewers, dated A ugust
1st 1909.
$50,000 00 "for Central Police Station, dated
June 1st, 1909.
,
$50,000 00 for Park Purposes, dated August
$§o!oOO 00 "for Water W orks, dated July 1st.
1909.
$25,000 00 for Play Grounds, dated June 1st.
1909.
All of the above-m entioned bonds will mature
thirty (30) years after their date of issue without
option o f prior paym ent. They all bear Interest
at the rate of FO U R P E R CEN T (4 % ) P E R
ANNUM, payable semi-annually, principal and
Interest payable at the Financial Agency of the
City of St. Paul in the City of New Y ork.
Bonds will not be sold for less than par and
accrued Interest to date of delivery. A certified
check payable to the City Treasurer of the City
of St. Paul for tw o per cent (2 % ) of the par value
of the bonds bid for must accom pany each bid
that will be considered. Bids for the entire lot
or none will not be considered.
The Committee reserves the right to reject
any and all bids.
.
Bids should be sealed and marked “ Bids for
Bonds” and Hied with the undersigned b y 12
o ’clock noon, on July 20th, at which time they
will be opened in the presence of the Sinking Fund
Committee.
, ,
A detailed description of the bonds will be
mailed upon application.
LOU IS B E T Z , City Comptroller.
J
o h n
H.
W
a t k in s
M U N IC IP A L
N ew
Y ork
McCOY & COMPANY
AND
R A IL R O A D
BONDS
No. 2 WALL STREET
NEW YORK
Form erly M acDonald, McCoy & Co.
Municipal anJ
Corporation Bonds
Investment Securities
B O ST O N
To
N A T IO N A L L IG H T ,
H E A T & P O W E R CO.
M e m b e r* N ew Y o r k S to c k E x c h a n g e
OO S T A T E
Four Per Cent— 30-Years
WATER BONDS
RE-PAVEMENT b o n d s
181
La Salle Street, - Chicago
OTTO JULIUS MERKEL
It I I O K K It
44 A M ) 4 « W A L L S TR E E T, NEW Y O R K
IN VESTM EN T SECURITIES,
Correspondence Invited.
122
THE CHRONICLE
th e s u c c e s s fu l b id d e r , p a y in g p a r a n d a c c r u e d in t e r e s t .
s t a t e C o m p tr o lle r h a s re g iste re d th is is s u e .
The
Woodruff School District No. 33 (P. O. Woodruff), Spar
tanburg County, S . C.— Bids Rejected.—All b i d s r e c e i v e d
o n J u ly 1 fo r th e $ 5 ,0 0 0 5 % c o u p o n h e a t -a n d -l i g h t -p l a n t e q u i p m e n t b o n d s d e s c r ib e d in V . 8 8 , p . 1 6 4 1 , w e r e r e j e c t e d .
Yale Consolidated School District (P. O. Yale), Okla—
Bond Sale.—
T h is d is tr ic t h a s s o ld $ 4 ,0 0 0 b u ild in g b o n d s .
’
Y o u n g s t o w n , O h i o .— B o n d Offering.— P r o p o s a l s w ill b e
r e c e i v e d u n t il 2 p . m . J u l y 1 2 b y W m . J , D a v i e s , C i t y A u d i
t o r , f o r th e fo llo w in g 5 % b o n d s :
2,81o J ^ Q u e s tm ^ re e ^ p a v ln ^ b o n d s.
ln^clus?veC*' *
M aturity $563 yearly ou Oct. 1
3,465 O ct^ l'froin ^ S lO t(fVoi4*lnSus1ve°n^S"
4,775 n o m T o r n
Xvlck A ve- cleanIn£ bonds.
5693 yearly ° Q
M aturlty 5955 yearIy on Oct. 1
M aturity Oct. 1 1010.
9,735 tromT/lofoloWnVcluflvend8' MatUrfty $1’947 yearly on 0c‘- 1
L 1,500 ?oTodto i«TCrusfve°ndS- MatUrIty 5318 yearly on 0ct- 1from
8,250 J o io N o T s ifin c lS s ^ v e 113-
MatUrfty 51(650 yearly 0Q 0 c ‘ - 1 from
600 F e l W m i fncluslve ndS" MatUfIty 5120 year,y on 0 c t - 1 from
1,000
maln-sewer bonds. M aturity Oct. 1 1010.
o f ^ h ? dr i f J 11T 5 l = ated JUoy *£ 100°- Interest semi-annually at the office
o f the C ity rreasurer. Purchasers must be prepared to take the bonds
tban Ju y A ?’
m oney to be delivered at one o f the'banks In
Youngstown or at the City Treasurer’s office. Bids m ust be made on
t’ onds^separately and be accom panied by a certified check on
a national bank for 2 % of the bonds bid for, payable to the City Auditor.
(P( 0( Yuma>> Ariz.—-Bond Sale.— On
I
J u n e 3 0 t h e $ 5 0 , 0 0 0 5 % 3 5 - y e a r g o l d c o u p o n c o u r t -h o u s e
a n d j a i l b o n d s d e s c r ib e d in Y . 8 8 , p . 1 4 6 0 , w e r e a w a r d e d t o
t h e T h o s . J . B o l g e r C o . o f C h i c a g o a t 1 0 9 . 0 1 4 — a b a s is o f
a b o u t 4 .4 8 7 % .
F o llo w in g are th e b id s :
Thos. J .B o lg e r Co., C hic. -$54,507 25
Jas. H . Allen & C o., L osA . 53,957 00
Cutter, W aller & May,Chi. 53,815 00
A . J. H ood & C o., D etroit 53,610 00
R .K ley b olteC o.,In c., C ln . 53,577 69
P rov.S av.B k.& T r.C o.,C ln. 53,385 0 0
f leld, Longstreth&Co., Cln 53,250 00
Commerce Tr. C o.,K an .C ity53,275 00
Jas. H . Allen & C o.,L osA - 53,207 50
J. H . Causey & C o., D en v. 52,767 001
NEW
S ec.S av.B k.& T r.C o., T ol $ 5 2 5 7 5
C offin, Crawford & Co.,Chi 52 500
First N at. Bank, C le v e ... 52 2 4 7
John Nuveen & C o., C hi. 5 2 1 5 1
C. H . C offin, C h ic a g o -... 52,126
NEW
$3 7 9 , 0 0 0
A T L A N T IC C IT Y , N. J,
BONDS
$ 6 0 0
Charles M. Smith & Co.
COR POR ATION A N D
W E B B & CO.,
P. J. G0 0 DHART & CO.,
Uankerg
Collingwood, Ont.— D eben tu re O ffe r in g . — P r o p o s a l s w ill
b e r e c e iv e d u n t il 2 p . m . J u ly 1 5 , b y R o b e r t G ilp in , C h a ir m a n
o f F in a n c e C o m m it t e e , fo r t h e f o llo w in g 4 ^ % d e b e n t u r e s :
* 57-604 29' year local sewer im provem ent debentures.
7,300 30-year consolidated
debentures.
7,000 10-year agricultural building debentures.
The above debentures are guaranteed b y the cou nty o f Slm coe.
Collingwood School District No. 1873, Alberta.— D e
benture S a le . — J .
A d d is o n R e id o f R e g in a h a s p u r c h a s e d
$ 1 ,2 0 0 d e b e n tu r e s f o r $ 1 ,2 0 8 — th e p r ic e th u s b e in g 1 0 0 .6 6 6 .
Conjuring School District, Alberta.— D eben tu re
C o.
S to ck s
S a le .—
A n is s u e o f $ 9 0 0 6 % d e b e n tu r e s o f th is d is t r ic t h a s b e e n
p u r c h a se d b y W . A . M a c k e n zie & C o . o f T o r o n to .
M a tu r ity
p a r t y e a r ly fo r te n y e a r s .
Deloraine, Man.— D eben tu re
b e r e c e iv e d u n t il A u g u s t 1 , b y D .
T r e a s u r e r , fo r $ 5 ,5 0 0 5 %
lo c a l
M a tu r ity p a r t y e a r ly fo r t w e n t y
O ffe r in g . — P r o p o s a l s
w ill
L . L iv in g s to n e , S e c re ta r y im p r o v e m e n t d e b e n tu re s.
years.
Dominion of Canada.— D esc rip tio n o f L o a n — D e t a i l s a r e
a t h a n d o f t h e £ 6 , 5 0 0 , 0 0 0 3% % G o v e r n m e n t lo a n
an
n o u n c e d l a s t w e e k in L o n d o n ( V . 8 9 , p . 6 6 ) .
The bonds
w e r e o f f e r e d b y t h e B a n k o f M o n t r e a l , f in a n c ia l a g e n t s f o r
th e G o v ern m en t, a t 9 8 ) ^ .
L is ts fo r e a c h a p p lic a tio n c lo s e d
on J u ly 5 .
H o ld e r s o f th e £ 4 ,2 9 5 ,7 7 6 4 % r e d u c e d b o n d s
a n d sto c k
due Jan. 1 1910
a re in v ite d to e x c h a n g e t h e ir
h o ld in g s fo r e q u iv a le n t a m o u n t s o f th e n e w lo a n .
C on verLOAN S.
NEW
OOO
LOAN S.
$ 4 5 OOO
Westmoreland County, Pennsylvania
School District
ureFsleofM,!«8 « U1 be re°elved at the Town Treas
on? v e n ™ ? '. Greenwich, Conn., until 3 p. m.
4 ^ % BONDS
1909. for the purchase of $600,000 4 %
counons Att2nh3,iln denominations of $1,000 each,
f f i d A i m S e? ’ wlth Privilege of registration,
Indus 1vo “ an1J 31’ . 9,°9 ’ numbered from 1 to 600
hMnJ”
£ 1 of 8aId bonds In order as numbered
sald^hnnT.?w? ° 1 A u£ust 1st, 1914, and 12 of
on A nSnqf3 1 ?. ? rder as numbered being payable
Inclusive?* l8t ln each ot the years m 6
l®59
T A X FREE IN PE NN SYLV A N IA
Sealed bids will be received b y the undersigned
v rn iS ^ tAd,rleVT?re,i!lsylvLanla- unt11 7 o'clock p. m .,
l 9 tb ’ 1909- for
or any part
,*4!VJ?00 School District o f the Borough of Scottf*a1®; Westmoreland County, Pennsylvania, 4J4%
bonds, dated June 1st. 1909. interest payable
semi-annually at the First National Bank, ScottTrmtnr!fmlr,Annd Interest payable at the Astor & o / £ nnsyIvan. £ - , Kach bid must be accom
am ??mpany. New York City,
panied b y a certified check on a National Bank
r w u for *J^ust be accompanied by a certified to the order of A. C. Overholt, Chairman Finance
per cent of amount bid.
Committee,
ln the sum o f $1,000, as evidence of
lhe right Is reserved to reject any or all bids.
good faith. The checks o f unsuccessful bidder*
N. A . K N A P P ,
1
will be returned prom ptly after an award Is made.
M. J. Q U IN N ,
} Committee. The check o f the successful bidder will be held
__________
E . N. CHAPMAN,J
until the bonds are paid for.
No bids of less than par and accrued Interest
will be considered. The Flnanoe Committee re
serves the right to reject any or all bid*. Further
particulars m ay be obtained from the Chairman
A. C. O V E R H O L T ,
Chairman Finance Committee,
Scottdale, Penn’a.
$3 4 0 , 0 0 0
Town of Middletown, Conn.,
non-taxable bonds
i ^ 1Bdnn W t h 1 , . ' or $340,000 non-taxable
ditrTi A?,^d ? f ioao town Of Middletown, C onn.,
in u A u* ; 2 » 1809, to mature A u*. 2, 1929,
will be received until noon of July 19. 1909. The
right to reject any or all bid* 1* reserved.
B-
DT<" ™
$2 5 ,0 0 0
4%
Water and Sewer Bonds
OF
BRIDGEVILLE, DELAWARE
Perry, Coffin & B urr,
INVESTMENT BONDS
60
State street,
BOSTON.
Iu l^ partlcu ll!n 7 »ddregJeceIved «or « m e .
Fo
R O B E R T R . LAYTO.V
Secretary Town Commissioners.
Bridgevliio, Delaware.
Adrian H. Muller & Son,
A U C T IO N E E R S .
W E OW N AND O F F E R
m u n ic ip a l
37 B R O A D W A Y
NEW Y O R K
Telephone 2240 R ector
3 2 0 W a l n u t S t ., C in c in n a t i
Burnaby, B. 0 . — D e b e n tu re O ffe rin g . — P r o p o s a l s w ill b e
r e c e iv e d u n til 7 p . m . J u ly 2 3 f o r $ 1 5 0 ,0 0 0 5 % r o a d -im p r o v e
m e n t d e b e n tu re s, a u th o r iz e d o n J u n e 1 9 b y a v o te o f 8 5
“ f o r ” t o 6 2 “ a g a in s t .”
M a tu r ity J u n e 3 0 1 9 5 9 .
C T
S a u n d e r s is M u n i c i p a l C l e r k .
4% SERIAL GOLD BONDS
7* BROADW AY. NEW YOR K
T ru st
Berthier, Que.— D eben tu re O ffe r in g . — P r o p o s a l s w i l l b e
r e c e iv e d u n t il 8 p . m . J u ly 2 0 b y M . H . L . A u b in , T o w n
S e c r e t a r y -t r e a s u r e r , fo r $ 6 0 ,0 0 0 4 ^ %
4 0 -y e a r d e b e n tu re s
D e n o m in a tio n $ 1 ,0 0 0 .
I n t e r e s t p a y a b le s e m i-a n n u a lly .
TOWN OF GREENWICH, BOROUGH OF SC0 TTDALE,
INVESTMENT SECURITIES.
and
Amherstburg, Ont.— D eb en tu re S a l e — T in s t o w n h a s
s o ld $ 1 6 ,4 6 2 5 %
d e b e n tu r e s , d u e p a r t y e a r ly fo r tw e n ty
y e a r s , t o th e O n ta r io S e c u r itie s C o . o f T o r o n t o .
BONDS
FIBST NATIONAL BANK BUILDING
CHICAGO
B ank
Canada, its Provinces and Municipalities.
Fairfield County, Connecticut
Bids received until 12 o'clock M. July 24th, 1909.
The City of Atlantic City will receive sealed
proposals for $379,000 A ilantic C ity Bonds In
denominations of $1,000 each, and bearing
Interest as follow s: $313,000 at 4 H per cent and
$66,000 at 4 per cent. B oth principal and
Interest are payable In New Y ork.
Bids MUST be for a ll o r n o n e of the bonds.
Bids must be upon the form attached to circular
etter of the Comptroller.
There Is no litigation affecting these bonds or
the statutes under which they are Issued.
E very bidder, as a precedent to the reception
or consideration of his proposal, shall deposit
with the C ity Comptroller $7,000 In m oney, or
certified checks for that am ount, drawn to the
order of said Comptroller.
T H E L E G A L IT Y OF TH E SE BON DS HAS
B E E N A P P R O V E D B Y D ILLO N & H U B B A R D ,
of New Y ork, whose certificate as to legality will
accom pany the bonds when delivered, without
cost to the purchaser. The bonds will be en
graved under the supervision of and certified as
to their genuineness by T H E COLU M B IA T R U S T
C O M PA N Y , of New York.
The C ity of Atlantic City reserves the right to
reject any or all bids.
. Delivery of bonds will be made on or about
August 1 1009.
Circular letter giving full particulars forw arded
on application to
A. M. H E STO N , Comptroller.
M UNICIPAL
nn
00
00
nn
00
Allen & Sons, Los Angeles 50,976 35
Kane & C o., M inneapolis. 50,025 7 5
LOAN S.
[VOL. L XXXIX.
b o n d s
T ax E xem pt Anywhtre In the United States
W rite for Particulars
LTLEM,
sutherlin & 00.
6 17 First Nat. Bank Bldg, CHI C A G 0 ,1LL.
Regular Weekly Sales
STOCKS and BONDS
OF
EVERY
W EDN ESDAY.
O ffic e , N o . 5 5 W I L L I A M S T R E E T ,
C o r n e r t * ln o s t r e e t .
J
u l y
c e iv e d u n t il 6 p . m . o n t h a t d a y b y
s io n a p p l i c a t i o n s w ill b e r e c e iv e d u n t i l J u l y 1 2 a n d h o ld e r s
o f t h e o l d b o n d s w ill r e c e iv e p r e f c r e n c ia l a l l o t m e n t .
In terest
is p a y a b l e J a n . 1 a n d J u ly 1 a t t h e B a n k o f M o n t r e a l in
L o n d o n , a f u l 1 s i x m o n t h s ’ in t e r e s t b e i n g p a y a b l e J a n . 1 1 9 1 0 .
T h e l o a n is r e d e e m a b l e a t p a r in L o n d o n o n J u l y 1 1 9 5 0 , w i t h
o p tio n to th e G o v e r n m e n t to re d e e m a t p a r o n o r a fte r
J u l y 1 1 9 3 0 o n g i v i n g s i x m o n t h s ’ n o t i c e . T h e s t o c k w ill b e
r e g i s t e r e d a n d t r a n s f e r a b l e in a n y a m o u n t b y d e e d , f r e e o f
sta m p d u ty .
R e g is t e r e d s to c k m a y b e e x c h a n g e d fo r c o u p o n
s t o c k c e r t if i c a t e s a n d s u c h c e r t if i c a t e s m a y b e r e -r e g is t e r e d
a s s t o c k a t w ill o f t h e h o ld e r o n p a y m e n t o f t h e p r e s c r i b e d f e e .
Denom ination $1,000. Date July 1 1909. Interest semi-annually and
is payable on the first-mentioned Issue at the Merchants’ Bank of Canada
and on the latter Issue at a place to be designated b y the Council at the date
o f issuance. Maturity July 1 1949.
Lashburn, Sask.— Debenture Sale.— O n J u l y 1 N a y &
J a m e s o f R e g i n a p u r c h a s e d t h e $ 1 , 5 0 0 5% % c o u p o n p e r m a
n e n t - i m p r o v e m e n t d e b e n t u r e s d e s c r ib e d in V . 8 8 , p . 1 6 4 2 ,
at par.
B i d s w e r e a l s o r e c e iv e d f r o m G . A . S t i m s o n & C o . ,
t h e O n t a r i o S e c u r i t i e s C o . a n d W m . C . B r e n t , a ll o f T o r o n t o ,
a n d H a w k e y , S o m e r v ille & C o . o f I n d ia n H e a d .
M a tu r ity
I t is r e p o r t e d t h a t G . A .
& C o . o f T o r o n t o w e re r e c e n tly a w a r d e d $ 2 ,5 0 0 6 %
p a r t y e a r ly fo r 15 y e a r s .
Macdonald, Man.— Debenture Sale.— A n is s u e o f $ 1 0 , 0 0 0
4%
2 0 - y e a r d e b e n t u r e s w a s a w a r d e d in J u n e t o ^ W . ^ A .
M a c k e n zie & C o . o f T o r o n to .
D a te A u g . 1 1 9 0 9 .
1 0 -y e a r d e b e n tu re s.
Esterhazy, Sask.— Debenture Sale.
$ 1 ,5 0 0
1 5 -y e a r d e b e n tu r e s h a v e b e e n
S o m e r v ille
& C o . of
In d ia n
R e p o rts sta te th a t
a w a rd e d to H a w k e y ,
Medicine Hat School District No. 76, Alberta.— Debenture
H ead.
Sask.— Debenture Sale.—
Grierson School District,
Sale.—
O n J u n e 3 0 th e $ 5 0 ,0 0 0 5 % s c h o o l-b u ild in g d e b e n
t u r e s m e n t i o n e d in V . 8 8 , p . 1 6 4 2 , w e r e a w a r d e d t o J . A d d i
s o n R e i d & C o . , L t d . , o f T o r o n t o a t 1 0 2 . 2 0 a n d a c c r u e d .i n t e r -
A c
5}4%
c o r d in g to r e p o r ts , th is d is t r ic t h a s a w a r d e d $ 1 ,5 0 0
1 0 -y e a r d e b e n tu r e s to H a w k e y , S o m e r v ille & C o . o f In d ia n
e st.
Halifax, N. S.— Debenture Sale.— O n J u l y 6 t h e f iv e is s u e s
o f 4 % d e b e n t u r e s , a g g r e g a t i n g $ 1 2 0 , 4 0 0 , d e s c r ib e d in V . 8 8 ,
p . 1 6 4 2 , w e r e a w a r d e d , it is s t a t e d , t o F . B . M c C u r d y & C o .
M a t u r i t y J u ly 1 1 9 4 0 .
Hawkesbury, Ont.— Debenture Offering.—
P r o p o s a ls
Melville School District, Sask.— Debenture Sale.— P a p e r s
s t a t e t h a t 8 1 0 ,0 0 0 6 % 2 0 -y e a r d e b e n tu r e s h a v e b e e n a w a r d e d
to H a w k e y , S o m e r v ille & C o . o f I n d ia n H e a d .
w ill
b e r e c e i v e d u n t i l 1 2 i n . J u ly 3 1 , b y D . D o y l e , T o w n C l e r k ,
fo r $ 9 ,4 0 0 6 % c o u p o n d e b e n tu r e s .
In t e r e s t a n n u a l.
M a
t u r i t y ’ p a r t a n n u a lly fo r te n y e a r s .
Holar School District, Sask.— Debenture Sale.—
I t is r e
p o r t e d t h a t H a w k e y , S o m e r v ille & C o . o f In d ia n H e a d h a v e
p u r c h a s e d $ 1 ,6 0 0 5 % % 1 5 -y e a r d e b e n tu r e s o f th is d is t r ic t .
Lachine, Que.— Debenture Offering.— S o m e a d d i t i o n a l d e
t a i l s a r e a t h a n d r e l a t i v e t o t h e o f f e r in g o n J u l y 1 2 o f t h e
fo llo w in g 4 J ^ %
d e b e n t u r e s , m e n t i o n e d in V . 8 9 , p . 6 7 :
$ 2 5 ,0 0 0 fo r b u ild in g a p u b lic m a r k e t a n d $ 9 0 ,0 0 0 fo r th e e x
t e n s i o n o f th e w a te r w o r k s , d r a in a g e a n d lig h tin g s y s t e m s ,
a n d t o c o n s o l i d a t e t h e f lo a t i n g d e b t .
P r o p o s a l s w ill b e re
NEW
N EW
LOAN S.
Minitonas School District No. 1102 (P. O. Minitonas),
Man.— Price Paid for Debentures.— W e a r e a d v i s e d t h a t t h e
p r ic e p a i d f o r t h e $ 2 , 9 0 0 6 % s c h o o l - c o m p l e t i o n d e b e n t u r e s
a w a r d e d o n J u n e 9 to N a y & J a m e s o f R e g in a ( V . 8 8 , p .
1 5 1 8 ) w a s $ 2 ,9 9 6 o r 1 0 3 .3 1 .
D a te M a y 1 9 0 9 .
In terest
M ay 1.
M a tu r ity p a r t y e a r ly o n M a y 1 fr o m 1 9 1 0 ^ 0 ^ -1 9 1 9
in c lu s iv e .
Montreal, Que.— Bonds Not Awarded.— N o a c t i o n ’’’was
t a k e n o n J u l y 5 o n t h e b i d s r e c e iv e d f o r t h e $ 3 , 0 0 0 , 0 0 0 1 4 %
l o a n o f f e r e d o n t h a t d a y a n d d e s c r ib e d in V . 8 8 , p . 1 6 4 2 .
M IS C E L L A N E O U S .
LOAN S.
$419,420 60
$ 1 5 0 ,0 0 0
GOLDSBORO,
F o llo w in g are t h e b id s :
J. A. R eid & C o., L td.;T or$51,100 00 W o o d , Gundy & C o., T o r.$ 5 0 ,328100
H awkey, Somerville &Co.,
McMahon & Hellwell,
4 s# *4 .-Si
T oron to________________ 50,207 00
Indian H ead----------------- 50,929 50
Geo. A. Stimson & C o.,T or 50,741 00 II. O’ Hara & C o., Toronto 46,905 00
W m . C. Brent. T o r o n to -- 50,629 00 Aemlllus Jarvis & C o., T or
k.99.03
W . A. Mackenzie & C o..T or 50,610 0 0 1
Maturity part yearly for 30 years.
H ead.
o f H a lifa x .
N. C.,
STREET AND SIDEWALK
IMPROVEMENT BONDS
On T H U R S D A Y , JU L Y 15TH, 1909, the
Board of Aldermen of the City of Goldsboro,
N . C ., will receive sealed proposals for purchase
of bonds In the sum of $150,000 00.
Said bonds to run for a period of forty years,
with Interest payable semi-annually In New York.
AH bids must be accom panied by a certified check
of 3 % . payable to the City of Goldsboro. Bidders
requested to submit two separate bids, one on
basis of 4% Interest and the other on the basis of
Interest. No bids will be considered for
less than par.
The City reserves the right to reject any and
all bids.
Bids must be filed with the City Clerk on
before 12 o ’clock M ., Thursday, July 15th. 1909
D . J. II R O A D H U R ST. City d e r k .
CANADIAN
MUNICIPAL BONDS
T
City of Ottawa, Ontario,
DEBENTURES FOR SALE
Tenders addressed to “ The Chairman, Board
of C ontrol," and marked “ Tenders for Deben
tures,” will be received b y the Corporation of the
City of Ottawa until 12 o ’clock noon, on T H U R S
D A Y , T H E 2D S E P T E M B E R , 1909, for the
purchase of $98,000 00 40-year debentures,
$159,000 00 30 years and $162,420 60 20 years.
The debentures are all a liability of the City
at large, are all dated 1st July, 1909, and bear
4 % Interest, payable 1st January and 1st July.
All tenders must be on the official form , a ccom
panied with a marked cheque for $5,000.00.
Accrued Interest must be paid In addition to the
price tendered.
Bonds will be made payable In Ottawa, New
York and London, at the option of purchaser;
and In denominations to suit.
Delivery will be made at Ottawa within one
month If required.
The highest or any tender not necessarily a c
cepted.
.
.
Full particulars, together with further con di
tions and official form of tender can be obtained
on application to the City Treasurer, Ottawa.
Ottawa. 6tli July, 1909.
(Sgd.) OHAS. H O P E W E L L ,
<
Mayor.
BLACKSTAFF
& CO.
IN V E S T M E N T S
1332
W a ln u t
S tre e t
PHILADELPHIA
LIST OF SPECIALTIES ON REQUEST
Blodget, Merritt & Co
BANKERS
STATE, C IT Y
of
new
OFFER
OKLAHOM A S C H O O L BONDS
to net 5 % to 5 X %
F irs t
Nntional Bank Bldg., C h ic a g o
ork
.
Home Office
C it y
I n v e s tin g
165
B u ild in g
Broadway
Branches— Chicago, Philadelphia, Boston,
Pittsburgh Atlanta, Baltimore
C O N F ID E N T IA L A U D IT S , IN V E S T I
G A T IO N S A N D E N G IN E E R
I N G A P P R A IS A L S
THE REPORTING OF INDISPUTABLE
FACTS
E D W A R D T . P E R IN E , President.
F. O. R IC H A R D SO N . Sooty. and T i m s .
gfrje ©jcrxrjevttwml Jwcjcxrtttxtmxt
P . O. BOX 27. MAIN OFFICE
W ASHINGTON. D. C.
ATM ON TH LY M A G A ZIN E OF IN T E R E S T TO
ACCOU N TIN G A N D F IN A N C IA L O FF IC E R S
OF M U N IC IP A L IT IE S . B A N K S . R A IL W A Y S
A N D O T H E R P U B L IC S E R V IC E C O R P O
R A T IO N S .
TO BE FOU N D IN A L L L E A D IN G C E R T IF IE D
P U B L IC A CC O U N TA N TS’ O FFIC E S.
RAILROAD BONDS
S a m p le C o p y 1 5 c e n t s . P e r A n n u m $ 1 .5 0
-
Boston
F O R R E S T & CO.
3 0 Pine Street, - New York
BANKERS
Municipal Bonds
Philadelphia, Pa.
H. C. Speer 6c Sons Co.
Y
ompany
VThe Oldest and F orem ost”
5614 Germantown Avenue,
S#llolta;thobusiness of Corporations and MunicT
paI1Usi desiring the lerv loeiof a Registrar. Trustee
or Flnanolal Agent._______________________________
C
a u d it
AN D
6 o State Street,
CHELTEN TRUST COMPANY
he
O F F IC IA L O R G A N OF T H E A SSO C IATIO N OF
A M E R IC A N G O V E R N M E N T ACC O U N TA N TS.
W. A. MACKENZIE & CO.,
TO R O N TO . CANADA
H . R o b e r t, S e c re ta ry -
T reasu rer.
Enderby, B. C.— Debenture Sale.—
S tim s o n
123
THE CHRONICLE
10 1 9 0 0 . |
421 CHESTNUT ST..
M U N IC IP A L
A N D
P H IL A D E L P H IA , P A .
R A IL R O A D
BONDS.
SEASONGOOD & MAYER,
LIST .O N A P P L IC A T IO N
Mercantile Library Building
CINCINNATI
Central Union Telephone
Stock
CLIFFORD ARRICK
27 Talbott BUg.i
INDIANAPOLIS
124
Oshawa, Ont.-r-D eben tu re
S a le .— O n J u n e 2 1 t h e f o l l o w i n g
d e b e n tu re s w ere a w a rd e d to W m , G . B re n t o f T o ro n to
f o r $ 2 6 , 1 3 9 , t h e p r ic e t h u s b e i b g 1 0 0 . 5 3 4 :
4% %
$20,000 high-school building debentures dated May 1 1009.
6,000 public-school building' debentures dated June 1 1909.
Interest annual. Maturity part yearly lor thirty years.
Ottawa, Ont.—
D eben tu re
O ffe rin g . — P r o p o s a l s
w ill
be
r e c e iv e d u n t il 1 2 m . S e p t . 2 b y t h e C h a ir m a n o f th e B o a r d
of
[VOL. L XXXIX.
THE CHRONICLE
C o n tro l
fo r
th e
fo llo w in g
4%
d e b e n tu re s
a g g r e g a tin g
$ 4 1 9 ,4 2 0 6 0 :
$16,000 00 20-year By W ard Market paving debentures.
57,762 97 20-year local Improvement (city’s portion) debentures.
81,657 63 2 0 -year local Improvement debentures.
7.000 00 20-year public library debentures.
20.000 0 0 30-year R egistry Office debentures.
85.000 00 30-year Lansdow nc Park grandstand debentures.
4.000 00 30-year water-works debentures.
50.000 00 30-year Bank Street subway debentures.
98.000 00 40-year water-works aqueduct debentures.
Denomination to suit purchaser. Date July 1 1909. Interest semi
annual. Certified check for $5,000 Is required. Purchaser to nav ac
crued Interest. Bids to be made on the official forms furnished b y the city.
T h e o fficia l notice o f this debenture o fferin g w ill be fou n d
a m o n g the advertisem ents elsewhere in this D ep a rtm en t.
Park Springs School District, Alberta.—
D eben tu re S a le . __
W . A . M a c k e n zie & C o . o f T o r o n to h a v e p u rch a se d $ 7 0 0 6 %
d e b e n t u r e s , m a t u r in g p a r t y e a r ly f o r te n y e a r s .
Pilchak School District, Sask.— D ebenture S a le .— Th i s
d i s t r i c t , i t is s t a t e d , h a s a w a r d e d $ 1 , 2 0 0 7 % 1 0 - y e a r d e b e n
tu r e s t o H a w k e y , S o m e r v ille & C o . o f In d ia n H e a d .
Point Douglas School District, Man.—
D ebenture S a le . __
A n is s u e o f $ 1 , 0 0 0 5 % 1 0 - y e a r d e b e n t u r e s h a s b e e n a w a r d e d ,
is s t a t e d , t o H . O ’ H a r a & C o . o f T o r o n t o .
Poplar Ridge School District, Alberta.—
D ebenture S a le
—
T h is d is tr ic t h a s so ld $ 5 5 0 6 % d e b e n tu r e s to W . A . M a c
k e n z ie & C o . o f T o r o n t o .
M a t u r it y p a r t y e a r ly fo r te n y e a r s .
Rivers, M a n . — D ebentures V oted and O ffered . — T h e e l e c
tio n h e ld J u ly 2 r e s u lte d in f a v o r o f th e issu a n c e o f th e
$ 1 2 ,0 0 0 5 3 ^ % 2 0 -y e a r s c h o o l-b u ild in g d e b e n tu r e s m e n tio n e d
in V . 8 8 , p . 1 6 4 3 .
T h e v o te w a s 2 7 to 3 .
P r o p o s a l s w ill
b e r e c e iv e d u n t il J u ly 1 5 .
Saskatoon, Sask.— D eben tu re S a le . — W o o d , G u n d y & C o .
of T o r o n t o w e r e t h e s u c c e s s f u l b i d d e r s o n J u n e 3 0 f o r t h e
$ 1 8 4 , 8 0 0 5 % 3 0 - y e a r d e b e n t u r e s m e n t i o n e d in V . 8 8 , p . 1 5 1 9 .
T h e s e d e b e n t u r e s a r e is s u e d f o r t h e e r e c t i o n o f a c o l l e g i a t e
in s t it u t e a n d m u n ic ip a l b u ild in g s , e x t e n s io n o f th e p o w e r
p la n t, p a rk s a n d ro a d s.
South Vancouver, B. C.— Debenture Sale.— W o o d , G u n d y
& C o . o f T o r o n t o a re r e p o r te d a s b e in g t h e s u c c e s s fu l b id d e r s
fo r $ 1 5 0 ,0 0 0 5 % d e b e n tu r e s .
Stockholm School District, Sask.— Debenture Sale. —
H a w k e y , S o m e r v ille & C o . o f I n d ia n H e a d a re r e p o r te d as
h a v in g p u r c h a s e d $ 1 ,0 0 0 5 3 ^ % 2 0 -y e a r d e b e n tu r e s o f th is
d is tr ic t.
Thurlow Township, Ont.— Debentures Voted.— T h i s t o w n
s h i p h a s v o t e d t o is s u e $ 6 , 5 0 0 s c h o o l d e b e n t u r e s .
Truro, N. S.— Maturity of Debentures.— W e a r e a d v i s e d
t h a t th e $ 1 1 3 ,0 2 5 4 % se w e r a n d w a te r d e b e n tu r e s a w a r d e d
o n J u n e 2 5 to F . B . M c C u r d y & C o . o f H a lifa x a t 9 5 .7 8 a n d
a c c r u e d in te r e s t ( V . 8 9 , p . 6 8 ) , m a t u r e a s f o llo w s : $ 2 1 ,9 0 0
A u g . 1 1 9 3 7 , $ 9 ,0 0 0 M a y 1 1 9 3 8 a n d $ 8 2 ,1 2 5 J u ly 1 0 1 9 3 9 .
Upland School District No. 2,290 (P. O. Chamberlain),
Sask.— Debenture Sale.— A n is s u e o f $ 1 , 2 0 0 5 % 1 0 - y e a r
s c h o o l-e q u ip m e n t d e b e n tu r e s w a s a w a r d e d to W . C . B r e n t
o f T o r o n to a t 1 0 1 .2 5 .
D a te Ju n e 1 1 9 0 9 .
In t e r e s t a n n u a l.
Verdun, Que.—■Debentures Authorized.—
000 5 %
A n is s u e o f $ 1 5 0 ,
3 0 -y e a r d e b e n tu re s h a s b e e n a u th o r iz e d b y th is t o w n .
Victoria, B. 0 .— Debenture Sale.— D e b e n t u r e s a g g r e g a t i n g
$ 7 3 , 9 3 1 3 2 , m a t u r i n g in 1 9 1 9 , w e r e p u r c h a s e d l a s t m o n t h
b y W . A . M a c k e n zie & C o . o f T o r o n t o .
In tere st 4 % .
Wallace, Man.— Debenture Sale.— A c c o r d i n g t o r e p o r t s ,
a n is s u e o f $ 2 0 , 0 0 0 4 % 2 0 - y e a r d e b e n t u r e s h a s b e e n d i s
p o se d o f to W . A . M a c K e n z ie & C o . o f T o r o n t o .
In te r e st
s e m i-a n n u a l.
Winnipeg School District No. 1 (P. Q. Winnipeg), Man.—
Bids Rejected.—
A ll b id s r e c e iv e d f o r th e $ 2 0 0 ,0 0 0 4 % sc h o o l
d e b e n tu r e s o ffe r e d o n J u ly 2 ( V . 8 8 , p . 1 4 6 1 ) w e re r e je c t e d .
Woodlawn School District No. 1499 (P. O. St. Vital),
Man.— Debenture Election.— A n e l e c t i o n w ill b e h e l d J u l y 1 7
to v o te u p o n
d e b e n tu re s.
ACCOUNTANTS.
a
p r o p o s itio n
to
is s u e
$ 6 ,0 0 0
s c h o o l-h o u s e
.
M IS C E L L A N E O U S .
OFFICE OF THE
Arthur Young & Co.
C e r t ifie d
P u b lic
A cco u n ta n ts
(ILLINOIS)
ATLANTIC MUTUAL INSURANCE COMPANY.
New Y ork, January 21st, 1909.
T h e T r u s te e s , in c o n fo r m ity w ith th e C h a r te r o f th e C o m p a n y , s u b m it th e fo llo w in g sta te m e n t o f Us a f f a i r *
o n th e 31st o f D e c e m b e r , 1908.
Premiums on Marine Risks from 1st January. 1908, to 31st Decem ber. 1»08
$3 397 807 24
Premiums en Policies not marked oft 1 st January. 1 9 0 8 .. . _ . . . . . . . . _ ! _ ! Z1111Z Z11 _
7 4 3 ,3 M 01
Total Marine Premiums__________________________________________________________________ $4,091,190 28
N e w Y o r k , 3 0 P in e S t r e e t
M i l w a u k e e , 0 3 3 W e lle B ld g
C h i c a g o , 1 3 1 3 M o iia d u o cU B lo c k
K a n s a s C it y , 1 1 0 6 C o m m e r c e B i d * .
Premiums marked off from 1st January, 1908, to 31st Decem ber. 1908__________________ $$ $$$,4 4 a
fetCTOstinecdwcd during the year...................................................$307,123 3 9
Kent less l a z e s and Expenses____ _____ ______ _____________ 142,032 22
$449,859 61
Losses paid daring the year which were estimated In 1907
Losses occurred, estimated and paid In 1 9 0 8 ..I ” I " " " I I l , 2 7 4 ’,»22 2 2 $ 1 , 9 9 5 ,4 7 7 68
Less Salvages_____ ___________________$270,948 33
Re-lHBUramces-------------------------- ---------- 190.555 37
LYBRAND,
ROSS BROS &
M ONTGOM ERY
C e r t ifie d
P u b lic A c c o u n ta n ts
(P e n n s y lv a n ia )
L a n d T i t l e B u ild in g
P H IL A D E L P H IA .
C it y I n v e s t in g B ld g ., 1 0 3 B r o a d w a y
N EW Y O lIK .
U n ion B a n k B u ild in g
’
P IT T S B U R G H .
JAMES
PARK
& CO
C E R T IF IE D PU B L IC ACCOU N TANTS
New York,Chicago, Cincinnati and
London, England.
A U D ITO R S
FOR
F IN A N C IA L IN S T IT U
TIO N S , IN D U S T R IA L A N D
M IN IN G CO M PA N IES
Investigations. Financial Stat merits.
Periodical Audits and AccounU ng.
HARRY J. WELCH
C H A R TER ED ACCOUNTANT
A udits, Investigations, Cost and General Systems
4 3 K I N G 8 T „ W .. T O R O N T O . C A N A A
ALFRED ROSE & C0 7 T”
CERTIFIED PUBLIC ACCOUNTANTS
56 Pine Street,
-
NEW Y O R K
______________ Telephone 4261 John.
LOOMIS, C0 NANT
& CO.
CERTIFIED PUBLIC ACCOUNTANTS
3 0 B r o a d .S t r e e t , N e w Y o r k
Tel. 495$ Broad.
479,543 70
51.215.933 96
Returns o f P r e m iu m s ........................................................................ .............. ..
Expenses, Including officers’ salaries aad clcrks,*compensat!on, stationery,
newspapers, advertisements, e tc............................... ........................................
ASSETS.
United States & State of New York
Stock, C ity, Bank and other Se,5 : - 7
...................... 55.442.792 00
Special deposits In
inks ATrustCos.
800,000 00
Real Estate oor. Wail * WllllamSts.,
& Exchange P lace.$4.299,426 04
Other Real Estate &
claims due the com
pany .........................
75,000 00 4.374.426 04
Premium jtes and Bills Receivable 1,377.905 06
Oasn in tne hands of European
Bankers to pay losses under pollcles payable In foreign countries.
390.031 95
Cash In B a n k ..................
429.950
18
Aggregating......................................$12,824,105 23
$51,930 46
$344,269 85
L IA B IL IT IE S .
Estimated Losses and Looses Un
settled _________________________ $2,310,433 00
Premiums on Unterminated R isks.
717,712*79
Certificates o f Profits and Interest
290,822 30
Unpaid ________________________
121,473 95
Return Premiums U npaid-------------Certificates of Profits Ordered Re
deemed. W ithheld for Unpaid
22,339 35
P re m iu m s ______________________
Certificates of Profits Outstand
7,363,410 09
ing................ .......... - - - - ----------Real Estate Reserve Fund-----270,000 0 0
Aggregating...................................... 311,066,101 0 5
. , . A dividend o f Interest o f Six per cent on the outstanding certificates o f profits will bo paid to the
Holders tnereof, or their legal representatives, on and after Tuesday the second of February next.
.J1.1to outstanding certificates of the Issue of 1903 will be redeemed and paid to the holders thereof
o r 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.
„ j u . 5 ! ;° n (1 of Forty per cent Is declared on the net earned premiums o f the Company for the year
ending 31st December, 1908, for which, upon application, certificates will be Issued on and after
Tuesday the fourth of May next.
By order of the Board,
Q. STANTON FLOYD-JONES. Secretary.
TRUSTEES.
G U S T A V A M S IN C F .
F R A N C IS M. BACON.
JO H N N. B EACH ,
W IL L IA M B. BOU LTON .
VERNON H. BROWN,
W A L D R O N P. BRO W N
JOH N C L A F L IN ,
*
G E O R G E O. C L A R K ,
CLEVELAND H. DODGE.
C O R N E L IU S E L D E R T .
R IC H A R D H . E W A R T ,
H E R B E R T L. GR IG G S,
CLEM EN T A . GRISCOM ,
ANSON W . H A R D .
L E W IS CASS L E D Y A R D ,
F R A N C IS H . L E G G E T T ,
C H A R L E S D. L E V E R IC H .
L E A N D E R N. L O V E LL,
G E ORGE H. MACY,
C H A R L E S H . M A R SH A L L .
W . H . H . M O ORE,
N ICH O LAS F. P A L M E R .
H E N R Y P A R IS H ,
D A L L A S B. P R A T T ,
G E O R G E W . Q U IN T A R D .
A . A. RAVEN,
JOHN L. R IK E R ,
DO UG LAS RO B IN SO N .
GU STAV H . SCH W A B.
W IL L IA M SLOANE,
IJAAO S T E R N ,
W .L L IA M A . S T R E E T .
A . A . R A V E N , P r e s id e n t.
C O R N E L IU S E L D E R T , V i c e -P r e s i d e n t .
S AN FO R D E . COBB, 2d V i c e -P r e s i d e n t .
C H A R L E S E. F A Y , 3d V ic e -P r e s i d e n t .
JO H N H JONHS S T E W A R T . 4 th V i c e - P r e s i d e n t
@FedFRASER