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Bank & Quotation Section
Railway & Industrial Section
Electric Railway Section
Railway Earnings Section
Bankers* Convention Section
State and C ity Section
V O L. 95
SATU R D AY, JULY
$ Ite
2 0 1 912
1912.
PUBLISHED W EEKLY.
T e r m s o f S u b s c r ip t io n — P a y a b le in A d v a n c e
F o r O n o Y e a r ..........................................................................................................$10 00
F o r S ix M o n th s ........................................................................................................
6 00
E u rop ea n S u b s cr ip tio n (in c lu d in g p o s t a g e )................................................. 13 00
E u rop ean Subscription six months (including postage) ..........................
7 60
A n n u a l S u b s crip tio n in L on don (in c lu d in g p o s t a g e )............................... £2 1 4 s.
S ix M on th s S u b s crip tio n in L o n d o n (in c lu d in g p o s ta g e )........................ £ 1 11 s.
C anadian S u b s cr ip tio n (in c lu d in g p o s t a g o ) ................................................. $11 60
•
iSubscription includes follow ing Supplements —-
B a n k a n d Q u o t a t io n (m o n th ly) I RAILWAY a n d I n d u s t r ia l (3 tim es y e a rly )
B a il w a y E a r n in g s (m o n th ly )
E l ec tr ic R a il w a y (3 tim es ye a rly)
STATE AND C it y (sem i-an n u a lly) |B a n k e r s ’ C o n v e n t io n (y e a r ly )
T e r m s o f A d v e r tis in g — P e r I n c h S p a c e
T r a n sie n t m a tte r p o r in ch sp a co (1 4 a g a te l in e s ).......................................... $ 4 20
(
Two Months
(s times)....................... 22 00
) T lire o M o n th s
(13 t im e s )............................ 29 00
S ta n d in g B u sin ess Cards < S lx M o n th s
(2 6 t im e s )............................ 50 00
(. T w e lv e M o n th s (52 tim e s )............................... 87 00
CHICAGO O f f ic e —G co. M . S h ep h erd, 513 M o n a d n o ck B lo c k ;T e l.H a r r is o n 4012.
L o n d o n O f f ic e —E dw ards & S m ith , 1 D ra p e rs’ G ardon s, E. C.
W IL L IA M
K. D A N A
1*. O . B o x 9 5 S «
C O M P A N Y , P u b lis h e r s ,
F r o n t , P in o a n d D e p c y s t c r S t s .,
N ew Y o rk .
Published every Saturday morning b y W ILLIA M B . D A N A COM PANY,
Jacob Seibert J r., President and Tress.; George 8 . Dana and Arnold G . Dana,
Vice-Presidents; Arnold G. Dana, Sec. Addresses o f ail, Office o f the Company.
C L E A R IN G -H O U S E R E T U R N S .
T h e follow in g ta b le , m a d e u p b y tele grap h , & c ., In dicates t h a t the
total b a n k clearings o f all clearin g h ouses o f th e U n ite d S ta te s fo r w eek
en d in g J u ly 2 0 . h a v e been $ 3 ,1 0 6 ,5 5 2 ,1 8 8 , ag a in st $ 3 ,3 1 1 ,7 4 1 ,7 0 0 last
w eek an d $ 3 ,0 4 8 ,0 7 7 ,8 8 7 th e corresp ond ing w eek la st y e a r.
Per
Cent.
Clearings —Returns by Telegraph.
Week ending July 20.
1012.
1911.
Now York____ ___________ _____ ____
Boston ........ .................. .......................
Philadelphia...........................................
Baltimore.......... ......... ............................
C hicago....................................... ...........
St. Louis...... ........................- ...............
New Orleans............................................
i U 13,672,265
153,457,694
137,260,486
29,043,282
247,706,853
6 5,563,771
14,535,342
$1,454,967,885
136,995,060
137,915,640
34,400,581;
246,582,112
62.812.6S8
14,443,477
— 2.8
+ 12.0
—0.5
— 15.6
+ 0.5
+ 1.2
+ 1.0
.Seven cities, 5 days..............................
82,059,294,693
515,249,863
$2,088,123,443
475,272,418
— 1.4
+ 8.4
Total all cities, 5 days........................
All cities. 1 day.....................................
$2,574,514,556
532,007,632
$2,563,395,801
4S5,282,026
+ 0.4
+ 9.6
Total all cities for week............ .........
83,106,552,183 1 $3,048,657,887 1 -t- 1.9
T h e full d etails for tho w eek covered b y th e a b o v e w ill b e given n ex t
S a tu r d a y .
W e c a n n o t furnish th e m t o -d a y , clearings b ein g m a d e up b y the
clearing h ouses a t noon on S a tu r d a y , an d h ence in tho a b o v e th e last d a y o f
th e week has t o b e in all cases e stim a te d , as w e go to press F r id a y n ig h t.
W e present b elo w d etailed figures for th e w eek en d in g w ith S a tu r d a y
n oon , J u ly 13 for fou r y e a rs.
Week ending July 13.
Clearings at—
1912.
1911.
Inc. or
Dec.
1910.
1909.
S
S
S
$
%
New York_____ 1,901,827,887 1.653,343,847 + 15.0 1,723,759,210 1,782,968,545
152,063,674 152,587.974 — 0.3 116,511,233 129,262,907
Philadelphia----54,747,939
47,582,871
51,127,211
52,680,506
+ 7.1
Pittsburgh..........
38,141,921
30,522,269
32,890,442
35,099,402
+ 8.7
Baltimore_____
12,009,266
9,383,127
10,757,770
+
12.2
10.395,681
Buffalo___ *.l____
7,128,768
8,255,985
7,034,609 + 17.4
6,946,484
W ashington----6,330,199
6,295,189
5,853,272
+ 8.2
5,594.193
Albany_________
4,535,352
4,157,857
4,324,220
+ 4.9
4,118,090
Rochester..........
3,947,216
2,671,036
2,978,900 +32.5
2,934,440
.Scranton______
2,557,153
2,781,572
3,040,707
+ 9.3
2,855,689
Syracuse______
1,710,714
1,518,045
1.459,139 + 17.0
1,622,693
Wilmington........ 1,588,655
1.610,455 I + 9.0
1,799,804
Reading.............. • 1,701,867
1,605,103
1,294,980
1,420,386 + 13.0
1,400,742
Wilkes-Barre . . .
2,010,541
1,850,299
1,834,301
+9.9
1,839,710
Wheeling ..........
1,900,659
1,469,039
1.712,128 + 11.C
1,508,596
Trenton ...__ 945,065
858,039 + 10.1
899,833
955,328
York
..............
904,914
774,018
931,028 ,+ 3.0
884,949
E rie _____ _____
____
1,307,171
888,200 +47.2
873,246
Lancaster..........
595.070
+ 7.6
639,994
610.647
514,609
Chester..............
587.900 + 20.3
707.400
476,800
502,100
Binghamton___
—0.4
513,071
511,852
460,818
522,622
Altoona............ ..
596,203
+ 2.0
602,341
420,354
012,009
Greensburg........
Total Middle.. 2,199,596,298 1,939,902,632
B o s to n ........ .....
Providence........
Hartford............
New Haven........
Springfield-------Portland . -------Worcester........ Fall R i v e r ._____
New Bedford ..
Lowell
_________
H olyoke............
Bangor................
180,222,375
8,260,200
5,045,106
3,413,260
2,023,423
2,490.266
2.592,623
1,143,010
1,078,129
657,173
759,203
518,031
+ 13.4 2,001,847,023 2,033,873,983
+ 0.1
179,983,283
8,486,700 —2.7
5,265,898 — 1.2
3,633,117 — 6.1
2,287,393 + 14.7
1,926,524 + 29.6
. 2,622,241 — 1.1
1,007,393 + 13.5
+ 4.0
1,037,742
667,418 — 1.5
603,520 + 14.5
513,105 —4.2
170,560,031 172,532,830
8,209,500
8,895,500
4,661,2,9
4,392,024
3,466,178
3,350,110
2,558,701
2,400,000
2,444,476
2,002,992
2,536,156
1,826,150
1,027,015 ■ 1,537,458
1,144,936
1,222,288
596,470
551,417
570,708
516,350
+ 0.3 197,781,480 199,227,125
Tot. Mew Eng. 208,809,399 203,121,340
\
: oi Can dlan clearings see "Commercial and Miscellaneous News.”
Week ending July 13.
Clearings at—
M iv o n ic U .
iNO. 2 4 5 6
1911.
Inc. or
Dec.
1910.
Chicago..............
Cincinnati_____
Cleveland..........
Detroit.............. Milwaukee_____
Indianapolis----Columbus..........
Toledo................
P eoria................
Grand Rapids. . .
D a y ton _______
E vansville........
Kalamazoo____
Springfield, III..
Fort Wayne___
A k ron .............. ..
Rockford ..........
Lexington..........
Youngstown___
Canton.... ...........
South Bend........
Springfield, O . . .
Mansilcld______
Quincy................
Bloomington----Decatur ............
Jackson..............
Danville.............
L im a ............ —
Owensboro........
Lansing..............
Jacksonville___
Ann Arbor..........
Adrian .......... ..
Tot. Mid. West
S
285,722,968
28,373,850
25.806,351
22,255,064
13,884,191
10,233,335
6,035,800
5,412,987
3,167,820
3,251,863
2,715,560
2,818,424
810,247
1,102,770
1,132,830
2,385,210
1,064,331
894,536
1,727,031
1,223,188
725,000
648,561
467,449
735,788
060,669
445,166
540,371
451,673
445,503
436,622
486,148
266,278
205,312
35,512
426,568,398
$
272.957,926
26,688,450
24,213,048
20,428,593
13,854,450
11.254,025
5,993,400
0,197,982
2,040,158
2,689,004
3,007,363
2,703.313
625,077
1,039,402
1.401,265
1,376,000
928,557
835,775
1,303,385
1,238,428
655,433
040,434
461,283
580,328
641,124
477,719
474.066
496,705
444,912
415,729
393,142
310,038
162,117
24,620
407,583,911
%
+ 4.7
+ 6.3
+ 6.6
+ 8.9
+ 0.2
— 9.1
+ 0.7
— 12.5
+ 20.0
+20.9
—9.7
+ 4.3
+29.6
+ 6.1
— 19.2
+ 66.1
+ 14.6
+ 7.1
+ 32.5
— 1.2
+ 10.6
+ 1.3
+ 1.3
+ 26.8
+ 3.1
—6.8
+ 13.9
—9.1
+ 0.1
+ 5.1
+ 23.7
— 21.7
+ 26.5
+44.2
+4.7
San Francisco__
Los Angeles........
Seattle ________
Portland............
Salt Lake C lty..
Spokane............
Tacom a..............
Oakland..............
Sacramento____
San Diego.........
Pasadena............
Stockton ............
Fresno................
San Jose________
North Yakima..
R e n o __________
Total Pacific..
Kansas City----Minneapolis........
Omaha................
St. Paul..............
Denver................
St. Joseph..........
Dos Moines........
Duluth................
Sioux City..........
Wichita..............
Lincoln ________
Topeka . . - ___
Davenport..........
Cedar R apids...
Colorado Springs
Fargo ................
Pueblo ________
Frem ont............
W aterloo__ . . .
H elen a -----------Aberdeen______
Hastings........ .
Billings ..............
Tot. oth. West-
52.736,473
24,129,791
12,959,263
11,690,665
6,893,649
4,664,848
4,596,264
4,177,218
1,959,739
2,692.264
081,827
936,802
923,777
814,032
400,000
284,149
130,840.761
46,489,205
19,962,477
18,000,000
10,284,042
10,721,030
6,976.472
5,200,000
3,001,263
3,110.119
3,516-,298
2,015,157
1,787,004
1,600,000
1,408,376
653,175
430,158
639.042
312,260
1,488,346
1,261,284
329,438
182,089
382,104
139,752,339
48,032,280
20,512,190
12,603,899
11,143,285
6,967,083
4,624,886
4,078,972
3,553,650
1,654,315
1,650,000
968,843
799,206
705,000
553,677
414,683
270.000
118,591,969
51,949,655
17,350,945
14,316,590
10,038,275
8,863.678
7,598,292
4,150,000
2,920.155
2,406,314
3,649,249
1,031,201
1,457,088
1,198,554
1,574,280
749365
860,563
782,575
428,027
1,153,445
1,019,681
377,431
194,580
119.841
134,789,70.6
+ 9.8
47,139,305
+ 17.0
15,895,127
+ 2.3
12,923,897
10,975,937
+ 4.9
6,495,119
— 1.1
5,075,787
+ 0.9
5.5S9.308
+ 12.7
+ 18.4
3,498,428
+ 12.4
1,468,665
+ 63.1
1,400,000
+ 1.4
693,687
+ 17.2
787,351
+31.0
• 696,633
+ 47.2
584,977
— 3.5
476,340
+ 5.2
259.000
+ 10.3 113,960,055
— 10.5
46,701,981
+ 15.1
21.090,235
+ 25.7
14,339,968
+ 2.4
11,165.054
+ 21.0
9,177,771
— 8.2
6,488,685
+ 25.3
3,750,613
+ 2.9
3,268,643
+ 29.3
2,761,809
—3.6
3,450,560
+23.5
1,619,490
+ 22.6
1,312,269
+33.5
1,120,682
— 10.5
1,202,191
— 12.S
810,395
— 50.0
941,780
— 18.3
609,549
— 27.1
294,242
+ 29.0
1,120,567
850,342
+ 23.7
552,946
— 12.7
—6.4 1
175,000
+ 218.8
230,000
+3.7 133,035,062
1909
S
S
278,334,305 281,774.026
31,463,350
27,105,450
19,331,998
24,081,323
16,220,027
20,681,123
13,159,455
13,157,546
11,609,064
9.414.G60
5,993,700
6,173,900
4,919,706
4,531,272
2,613,411
2,363.634
2,691,921
2,577,336
2,616,458
2,085,708
2,639,042
2,075,441
671,216
637,692
859,105
875,890
1,023,129
918,125
1,200,000
826,000
1,000,707
703,017
786.546
670,600
1,496,369
1,014,623
1,092.647
GG0.000
649,520
621,190
578,754
552,868
419,943
367,695
523.293 £
458,973
562,548 ?
425,167
457,306
425,267
395,000
304,980
436,322
370,255
318,248
304,809
424,357
401,000
298,951
228,777
196,526
176,069
30.684
30,121
410,239,311 401,822,811
42,435,463
12,549,735
14,300,300
8,626,858
8,123,083
3,768,239
5,418,058
2,100,000
1,245,951
1,139,000
622,684
531,663
458,639
329,486
244.000
101,894,159
38,394,028
17,660,189
13,016,440
8,772,161
8,941,761
5,189,495
3,490,403
3,061,725
2,678,655
2,694,280
1,424,310
1,356,887
1,022,485
1,045,449
786,270
769,906
577,037
265,199
966,570
212,038 i
112,325,288 1
79,806,664
+ 3.5
68,124,695 j
77,094,918
74,630,513
St. Louis............
17,763,826
+ 2.8
17,287,238
15,469,489
New Orleans___
15,951,077
13,090,989
15,027,939 — 12.9
12,202,013
12,618,835
Louisville..........
15,802,600
11,558,278 +30.7
12,752,628
12,309,822
H ouston............
7,200,000
7,181,500
+ 0.3
5,409,000
Galveston_____
5,953,000
9,094,944
7,645,027 + 18.9
7,613,896
Richmond ........
7,608,370
6,021,029
5,131,154
5,275,915
Fort Worth........
4,987,790 + 20.7
4,445,036
7,255,829
5,038,042
5,507.090 +31.7
Memphis ............
7,025,801
11,751,213
8,940,587
10,360,898 + 13.4
Atlanta..............
4,285,759
3,094,484
4,620,818
4,972,258 — 7.1
Nashville ..........
3,139,836
3,951,061i
3,918,741 — 8.6
3,582,293
Savalinah..........
3,163,681
+ 0.5
2,097,678
3,249,324
3,265,812
N orfolk..............
2,433,757
1,908,766
2,367,959 + 15.8
2,742.275
Birmingham___
1,360,608
1,208,261 + 12.8
1.471,175
l,3t>3,871
Mobile................
2,500,965
1,842,259
3,748,104
2,911.092 +28.7
Jacksonville___
1,850,675 + 14.7
1,770,847
1,463,730
2,122,099
Knoxville..........
2,075,941 + 26.0
1,610.112
1,468,646
2,615.649
Chattanooga__
2,451,172 — 19.1
1,596,771
1,983,301
1,446,994
Little Rock........
1,686,709 + 14.2
1,925,179
1,540.442
1,201,581
Charleston--------1,963,770 — 25.2
1,469,527
1,700,000
2,411.GOO
Oklahoma..........
1,872,675
1,356,358 + 38.0
1,321,304
2,031,056
Augusta_______
3,291,146
2,676,349 + 23.0
668,489
835.000
M acon................
900,000
1,260,796 —28.6
569,197
750,268
Austin................
244,915
231,121
255,449
+ 0.0
229,047
Vicksburg_____
657,432
652,114
424,582
+ 0.8
367,636
Wilmington, N.C.
383,602
340,000 + 12.8
465,000
280,000
Jackson_______
______
903,900
709,264 + 27.4
T ulsa..................
____ _
694,813
500,000 + 39.0
........ Muskogeo..........
-4-rt.Si 17K.m*v:4
105,234.219
Total Southern 206.174.505: 1 |,Cf'3<.ls-_>
11■13.014.3/71585
Total ail ........ - 8.311.7-11.70(1i 3.U02.025,830 -■ KM 3 .IK
Outside N. Y . 1,409,1113.81311.848.681 .U831 4-4..1. 1.311.2/■ !W5' l .231.389,040
136
THE
C H R O N IC L E
OUR R A I L W A Y E A R N IN G S IS S U E .
We send to our subscribers to-day the July number
of our ‘'Railway Earnings’ ' Section. In this publicatio we give the figures of earnings and expenses for
the latest month of every operating steam railroad in
the United States required to file monthly returns with
the Inter-State Commerce Commission at Washington.
As previously announced, the elaborate statistical
data contained in this Earnings Supplement are now
presented in a new and greatly improved form. An
other improvement made is that we supplement the
returns of the Inter-State Commerce Commission with
the companies' own statements where these differ from
the Commerce returns or give fixed charges in addition
to earnings, or where they have a fiscal year different
from the June 30 year, as is the case with the New York
Central Lines, the Pennsylvania R R ., and others.
THE F I N A N C I A L S IT U A T I O N ,
That strangely named journal, “ The Appeal to
Reason," tells its readers that “ two thousand dollars
a year and a six-hour working day is what Socialism
offers for your vote." The Socialists have their per
manent Presidential candidate in Mr. Debs, whose
title to the empty honor nobody contests. They claim
great importance for the ratio of increase in their total
vote, yet the spread of Socialistic feeling through the
regular parties is the really significant feature.
What Socialism is has not been discovered, as those
who profess it have not been able to agree on a defini
tion of it; we know, however, that at the bottom of it
lies a vague dissatisfaction, an unanalyzed belief that
the good things of life should be more equally divided,
that a form of society which does not produce or per
mit such a division is wrong and ought to be changed,
and that such a change can be brought about by laws
and parties. . How this is to be or can be done no
body has discovered.
All parties have deferred to and tried to cajole this
vague dissatisfaction as far as they have dared to do
so. Coaxing invitations to it are held out in the two
platforms already offered in this year, and whether
the other one which is trying to get shape will venture
to be still nearer specific is to be seen. But the un
guaranteed bid offered by the “ Appeal to Reason"
certainly goes to the limit, being specific in terms
(although silent about the time and the means of the
consummation), and the bid is one which nobody can
hope to outdo.
The promise is a handsome one, and we may admit
that it suggests a desirable ideal. Among those who
work at all the average day is certainly longer and the
average earnings smaller than are promised. Those
who are fit and able to earn $2,000 a year generally get
it already. The average wage is less because men are
n o t' equal in either capacity or energy. The deep
cause of trouble is not in the greed of the rich; it is
rather in the unthrift and idleness of the mass and in
the enormous wastes which we Americans permit.
At least 250 millions a year destroyed by fire; the cost
of supporting machinery for attempts to keep the
criminals within endurable bounds; the many thousonds of idle persons who mistakenly assert that the
world “ owes them a living"— these factors of burden
and waste which must be supported by the workers
cannot be arrayed in definite figures, yet they are
real. Society cannot follow the example of the work
ing bees in the hive, which periodically destroy the
[VOL. LXXXXV.
idlers that play gentlemen during the summer; so
(as a statement in average) every human worker must
carry a few of the vicious, the lazy and the idle. Be
sides this, we know that our methods of production
(of agricultural production in particular) are far less
effective than they could be, and that the cities swarm
with loafers who ought to be on the land as producers.
Energies wrongly expended and energies not ex
pended at all are the largest cause of want.
The half-lazy, half-angry dissatisfaction to which
the “ Appeal to Reason" addresses itself regards prop
erty as a species of robbery, although it might hesi
tate to avow that openly. The good things of life
belong to all; a few wrongfully gather and hoard them;
they ought to be divided— such doctrines please the
non-worker. The real remedy is not in re-dividing;
it is in raising the volume of production and diminish
ing the wastes. It is not a popular remedy, because
it is not rapid. Those who condemn industrial and
social nostrums are liable to be called unsympathetic
and to b(f'challenged to name remedies of their own.
But they cannot. The answer must be that no quick
remedies exist; that patience and labor are the prime
ingredients in the cure, and that society must improve
by gradual evolution.
What is called a “ safety first" convention was held
last week by employees of the Baltimore & Ohio Rail
road, in furtherance of a movement which has been
quietly going on for a considerable time. Several
weeks ago announcement was made by Vice-President
Kruttschnitt of the Ilarriman lines that with the
beginning of this month committees of subordinate
officers, master mechanics and others would be formed
for working in a systematic campaign to reduce the
number of accidents. Accidents to the working force
in the industrial departments are mainly to be con
sidered. The Pennsylvania and the Chicago & North
Western had already put such a plan in operation, with
encouraging results. The Baltimore & Ohio has been
studying this and preparing for it during six months
past, and since the appointment of the safety com
mittee, who have just met in this convention, the
monthly average of accidents has been cut down more
than one-half.
There is no panacea and no specific in such a move
ment; it all turns upon precaution and prevention.
Safety devices of varied construction, serving to cover
belts and gears and to fend off the members and bodies
of workers from contact with moving machines, are
the first part; careful and systematic instruction of
employees in protecting their own as well as passen
gers’ lives is the second. This is a natural sequel to
the instruction begun by some roads— the Pennsyl
vania, among others— to make employees perceive
how they could easily reduce wastes and also how
there is an irrepressible antagonism between wastes
and wages. This is a part of the conservation move
ment that has tardily, although most encouragingly,
been making headway of late. It is hopeful as one
more step in the process of getting into touch between
corporations and their employees, and it might be
remarked (even if, perhaps, not for the first time) that
while corporations are called soulless they are not
called brainless. This movement, quietly and system
atically taken up, is a better alternative to the senti
mental crusade for “ compensation" laws, even if any
body chooses to consider it a result of that crusade.
It is far truer kindness and far better economy, as
the “ Chronicle" has said, to prevent industrial injuries
July 20 1912.]
THE
C H R O N IC L E
than to attempt paying for them by a graduated scale.
Push precaution to its utmost; then punish most the
one most in fault. To destroy contributory negligence
as a defense in court is virtually attempting to repeal
a law of nature.
Transvaal gold production returns continue to re
flect in no uncertain way the decided progress making
there in the mining of the precious metal and, inci
dentally, supplying the world’s almost insatiable thirst
therefor. The latest information received by cable
indicates that while no new record in per diem yield
was set in June, the high daily average of May was
practically equaled, giving for the month an aggre
gate output of 753,936 fine ounces. This compares
with 684,567 fine ounces in June of last year, 625,181
in 1910 and 617,228 in 1909. The half-year’s result
shows even more clearly the magnitude of recent
development of gold mining in the world’s premier
field. For the six months of 1912 no less than 4,542,
907 fine ounces have been taken from the Transvaal
mines, or an average of 24,960 fine ounces daily,
whereas in the same interval of 1911 the yield was only
3,976,152 fine ounces, or 21,967 per diem, and in
1910 but 3,659,505 fine ounces, or 20,218 per diem.
These figures indicate, it will readily be observed, that
in a year’s time the daily rate of production has ad
vanced 2,993 fine ounces, or over 13%, and that in
two years the augmentation has been more than 23%.
Truly remarkable development in a field already pro
ducing so largely. Furthermore, the current average
rate, if merely maintained for the rest of the year,
would give for 1912 a total close to 9
million fine
ounces, or nearly as much as the whole world pro
duced as late as 1896.
Arrivals of aliens, immigrant and non-immigrant
combined, into the United States in May 1912, ac
cording to the official statement issued last week,
were greater than those for the month of 1911, but fell
below the total for the period in 1910. This year’s
inflow was 132,657 (made up of 113,635 immigrants
and 19,022 non-immigrants), against 110,075 last
year and 148,822 two years ago. In this latest month,
as for a long time past, the arrivals from Italy pre
dominated, but were only slightly greater than a year
ago. In fact, the only striking feature regarding the
nationality of the immigrants is the continued marked
increase in the influx of Poles. For the five months
of the calendar year 1912 the inward movement of
all classes of aliens was 472,327, against 418,969 for
the period of last year and 578,301 in 1910, and during
the eleven months of the fiscal year 1911-12 (July 1 to
May 31, inclusive), the arrivals reached 908,920, a
total contrasting with 948,348 in 1910-11 and 1,082,244
in 1909-10. The record eleven months’ influx was in
1906-07— 1,267,937. The outward movement of aliens
continued comparatively large in May, and for the
eleven months of the fiscal year the departures of
steerage passengers from the country aggregated 560,
370, as compared with 461,704 in the like period of the
preceding year and only 344,299 in 1909-10. Con
sequently the net increase in foreign-born population
during the latest eleven months was only 348,550,
against 486,644 in 1910-11 and 737,945 in 1909-10.
The formal British protest against the Panama Canal
Bill will, it is expected, be received by our State
Department during the next few days and will prompt
ly be transmitted to Congress. As we noted last week,
137
however, the protest itself is not now of distinct im
portance, since its contents are fully understood.
The preliminary notice that it would be presented has
performed the desired function of bringing the ques
tion frankly to the attention of our legislators before,
and not after, the proposed bill shall have reached the
statute books. Britain is pursuing an entirely courteour policy and is not permitting what is so palpably a
matter of business negotiation to become one of inter
national bitterness. Press dispatches from London
state that, with a view of heading off attempts at prem
ature and perhaps provocative discussion of the
Panama Canal question, Joseph King, Liberal member
of Parliament from North Somerset, was put up in the
House of Commons on Tuesday to ask the following
question of Sir Edward Gray, the Secretary of State
for Foreign Affairs:
“ Whether friendly representations are being made
to the United States Government with the aim of
securing generous treatment for such British shipping
as shall pass through the Panama Canal” ?
Sir Edward, in reply, merely quoted Article 3, Para
graph 1, of the Hay-Pauncefote Treaty, which reads:
“ The Canal shall be free and open to the vessels of
commerce and of war of all nations observing these
rules, on terms of entire equality, so that there shall be
no discrimination against any such nation, or its citi
zens or subjects, in respect of the conditions or charges
of traffic, or otherwise. Such conditions and charges
of traffic shall be just and equitable.”
To this Sir Edward added: “ As it appeared to His
Majesty’s Government that some of the provisions of
the bill now before the United States Senate would not
be consistent with this article of the treaty, it was
thought right to point out these objections to the
Government of the United States in order that they
may be taken into account while the bill is under
consideration.” The object of this formal statement
undoubtedly was to place the Secretary in a position
where he would be able to stave off would-be catechizers by saying that he has nothing to add to the formal
reply already given. Senator O’Gorman of New York
in the Senate on Wednesday charged that rail
road influence was behind Great Britain’s protest.
Nevertheless, the present legislative outlook in Wash
ington suggests that the Senate is prepared to stand in
an honest and straightforward way in favor of a manly
interpretation of the‘ treaty. The supporters of the
proposal for the free passage through the Panama
Canal of American ships admit, according to the
Washington correspondent of the New York “ Times,”
that the proposal is dead. The fate in the Senate of
Senator Lodge’s compromise measure providing for the
collection of equal tolls from all ships and a refunding in
the case of American ship-owners is not, according to
the correspondent in question, so certain; but it is
known, he says, that the House is irrevocably against
this or any other measure that looks like ship subsidy.
Senator Lodge, in the debate in the Senate, took
the ground that the United States had retained ball
rights under the Hay-Pauncefote Treaty to formulate
its own policy toward American vessels, and he de
fended the proposition for free tolls to American ships.
He reminded the Senate that he had been a member of
the Foreign Relations Committee which reported the
draft of the treaty. The Senator admitted that the
question of the free passage of American ships would
most probably be sent finally to The Hague, but sug
gested that such a course could be avoided by the
United States Government paying the tolls on Ameri-
138
T H E C H R O N IC L E
ean-owned ships. “ We never permit,” he added,
“ any foreign Power to interfere with our disposition
of our own money in connection with our own prop
erty." The Senator, in answer to a question by Sena
tor Smith of Georgia, expressed the belief that the
United States would lose should the question be sub
mitted to The Hague. “ The whole cause of this ac
tion by Great Britain is Canada," he declared. “ Can
ada is the only country situated as we are in reference
to the Canal. England is not worrying about her own
merchant marine. Her shipping would not be affected
by any arrangement we make for the tolls to Ameri
can ships. The whole trouble lies with Canada. She
fears that all the Canadian traffic will go through
American ports if American ships receive free passage
in the Canal."
Now that the entire matter has been placed before
Congress, we have no doubt that our legislators may
be depended upon in a perfectly honorable way to
stand by any contract with foreign countries this coun
try has made on the question of the operation of the
Canal. Our own recollection is that one of the strong
est arguments in favor of our own Government assum
ing the entire cost of the inter-ocean waterway was
that we would thereby increase the effectiveness of our
navy and that our profits would in great measure come
from the safeguarding of our national interests thereby.
[VOL. LXXXXV.
Ambassador at London, has been appointed Grand
Vizier, and will, it is expected, form a neutral Cabinet.
An additional complication, so far as the European
political situation is concerned, is contained in the
announcement that the Dardanelles have again been
closed. This action has been taken as a result of the
attack by eight Italian torpedo boats on the Turkish
forts at the entrance of the Straits yesterday morning.
The forts sank two of the Italian boats and the others
retired. It seemed likely that the order closing the
Dardanelles might bring matters to a head, but yes
terday, at a meeting of the Council of Turkish Minis
ters, the order'was revoked.
While no definite announcement has been promul
gated, there is excellent reason to believe that nego
tiations for the loan to China by the so-called Six-Nation
group of bankers will be resumed at an early date.
The main objection lies in the refusal of China to per
mit a supervision, on behalf of the bankers, of the ex
penditures. The bankers will, we understand, re
main steadfast as to this condition, but they will have
no objection to any compromise that, while attain
ing the same object, will not be regarded as offensive
to Chinese dignity. It is not unlikely, therefore, that
the form of compromise will be in the appointment of
a foreign adviser to the Republican Government.
This post has been definitely offered to Prof. Jeremiah
W. Jenks, formerly of Cornell University. Peking
cables also state that the Chinese Government is con
templating offering to Dr. George E. Morrison, the
correspondent in Peking of the London “ Times,"
the post of General Adviser to the Republican Govern
ment. Dr. Morrison who has for years been a power in
Peking and has been consulted at every crisis by the
leaders of the various parties has signified his willing
ness to accept. Another phase of the loan ques
tion is contained in the changes just announced
in the Chinese Cabinet. The Minister of Finance
and the Ministers of Justice, Education and Com
merce and Agriculture resigned on Monday and their
resignations were at once accepted. The retir
ing Minister of Finance, who recently resented the
terms offered by the bankers, will be retained with the
new Minister of Finance and others as a commission
to negotiate a loan abroad. An indication of the dis
turbed internal situation at present existing in China is
contained in the news that the National Assembly
yesterday vetoed all President Yuan Shi-Kai’s nomin
ees for Cabinet portfolios. Consequently, only the
Premier, Lee Cheng-Hsiang, is left in office.
There has been some disposition this week to ascribe
the new low record that has been established in the
quotations for British consols to a feeling of nervous
ness over the European political situation. No very
substantial evidence seems to present itself to confirm
this view and we are inclined to look to the financial
rather than political exigencies for the real explanation.
There is, of course, no question but that the European
Powers are endeavoring to bring about peace between
Italy and Turkey and confirmation has been given
this week of the rumors that were previously per
sistently current that pressure has been exerted upon
Italy to make the terms of settlement as liberal as possi
ble. Cables from Paris announce “ on excellent au
thority" that the Italian Government recently in
formed the Powers in an unofficial way that it was
ready and anxious to bring the war to an end and was
willing to pay a heavy cash indemnity to the Turkish
Government for the transfer of the sovereignty rights
in Tripoli and to act in a similar way in regard to the
Turkish islands in the Aegean Sea already occupied
by Italy. Turkey, however, is refusing to surrender its
sovereignty rights. The Grand Vizier in a statement
in the Turkish Chamber on Monday announced that
the Government had refused all the proposed condi
In London and at the Continental centres the money
tions of peace as unacceptable. Turkey, he said, in market has shown continued strength and has not
tended to maintain her sovereignty in Tripoli and the followed the somewhat easier tendency evinced at
war would continue until conditions of peace agree New York. In the British market consols have once
able to Turkey's dignity had been submitted. The more established a new low record, having touched 74
Grand Vizier added that he had received satisfying yesterday, which compares with 75% a week ago
assurances that Russia had no hostile designs against We must now go back as far as 1826, when 73% was
Turkey. The Turkish Cabinet resigned on Wednesday touched, to find a lower price than yesterday’s. But
in consequence of the revolt in the army against the even this was not the real “ low record." In 1823
methods of the Committee of Union and Progress (the sales of Consols were made at 72 and in 1820 and 1821
Young Turks’ organization). It was thought that the at 65% and 68%, respectively. The cause of this
vote of confidence given the Grand Vizier after his state liquidation of Britain’s premier security is rather
ment on Monday would give the Cabinet a new lease difficult to state. Some London authorities assert
of life. The feeling, however, (quoting dispatches that, primarily, it represents a disturbed political
from Constantinople), against the dictatorial Salonika situation in Europe that is below the surface, but
Committee, which behind the scenes has been para which, nevertheless, exists. On the other hand,
lyzing the departmental action of the Ministers, could the liquidation is unquestionably due, to some
no longer be resisted. Tewfik Pasha, the Turkish important extent, to the necessities of English bankers
July 20 1912]
THE
C H R O N IC L E
13<J
who have been recently endeavorin: to place securities market. While the Bank purchased the bulk of the
on a market that has shown distinct disposition to £800,000 of South African gold offered in the open
refuse them. Color is given the latter theory by the market on Monday, its total increase, net, in gold coin
fact that a more or less general decline has been partic and bullion holdings was only £573,994. With the
ipated in by all s o - c a l l e d gilt-edged but low-dividend and private discount rate fully equal to the Bank rate,
low-interest-returning securities. The decline in State there was no incentive to pay off loans, and the mar
securities, however, is by no means confined to Britain. ket’ s borrowings (as represented by the item “ other'
The French rente has recently shown severe weakness securities” ) were reduced by only £67,009. The total
and German and Austrian government funds have reserve showed an expansion of £796,000 and notes
likewise been very near low-record prices. Even our reserved increased £822,000. There was a decrease of
own national bonds are showing the effect of this £222,000 in note circulation and of £311,000 in public
world-wide movement of investors to demand better deposits. Ordinary deposits increased £1,021,000.
rental rates for their funds. Notwithstanding the poor The Bank now holds £40,962,471 gold, which compares
success of the recent offerings in London, new issues with £40,907,637 one year ago and £41,198,125 in
are daily being announced and seem to be meeting little 1910. The Bank’s loan account in the meantime has
better response than those of the last few weeks. The risen to £32,936,000, from £29,242,700 one year ago
issue through Messrs. Rothschild on Wednesday of and £30,352,788 two years ago. The proportion of
£3,800,000 of 3% Exchequer bonds at 93}^ was un reserves to liabilities in this week’s statement is 50.98%,
doubtedly responsible for some of the selling of consols. comparing with 50.23% last week and 53.38% a year
These Exchequer bills were issued in connection with ago. Our special correspondent furnishes the following
the financing of the Government’s purchase of the details of the gold movement into and out of the Bank
for the Bank week: Imports, £776,000 (of which
national telephone system.
An instance of the poor demand for securities on £52,000 from Australia and £724,000 bought in the
the British market is the fact that the underwriters open market); exports, £50,000 (of which £25,000 to
were themselves compelled to take 90% of the £ 2 , Java and £25,000 earmarked Straits Settlements),
000,000 of the Queensland 3 % % stock which was and shipments of £152,000 net to the interior of Great
offered early in the week. Indifferent results also Britain.
attended the issue of £1,000,000 in 5% debentures
The gold holdings of the Bank of France registered
for the Chilian Northern Ry.
Under these circumstances it is not to be wondered an expansion of 12,075,000 francs, which seems to
at that London’s private discount rate remained fully confirm the belief that the recent exports from New
up to the Bank of England’s minimum figure of York to Paris were either directly or indirectly on
3% all week. Reports were current on the London behalf of the Bank. Silver holdings decreased 2,100,
market that the Bank of England’s Governors were in 000 francs, and there was a contraction in outstanding
fact considering an advance in the Bank rate, but this note circulation of 29,550,060 francs. A rather sur
view is not entertained very widely in usually well- prising feature for this season was an increase of
informed banking circles at the British centre. Indeed, 40.525.000 francs in the Bank’s discounts. General
the Governor of the Bank of England, speaking on deposits increased 3,500,000 francs, Treasury deposits
Wednesday evening at a Mansion House dinner increased 56,775,000 francs, while the Bank’s advances
attended by the Chancellor of the Exchequer and decreased 17,250,000 francs. The gold holdings now
prominent bankers and merchants, intimated that* amount to 3,285,000,000 francs, as against 3,186,075,
while lie always declined to prophesy, he did not antici 000 francs in 1911 and 3,388,275,000 francs in 1910.
pate high rates for money this autumn unless some These figures do not suggest a particularly strong
unforeseen complication should arise or trade in the showing when we consider that the outstanding circula
United States should show great activity, which it tion is some 114,000,000 francs in excess of that
did not usually do in a year when there was a Presi outstanding at this date last year and 150,000,000
dential election. Still there were signs, he added, that francs in excess of the figures of 1911. The Bank’s
money would be more in demand in New York, and a liability items are, in fact, all in excess of recent years,
watchful eye should be turned in our direction. This the general deposits being 59,500,000 francs ahead of
view, it will be recalled, coincides with our own remarks the 1911 figures and 162,500,000 frari'es above the 1910
on the money situation in our issue of last Saturday. statement. Discounts are 76,000,000 francs in excess
The closing private discount in London, as quoted of last year’s totals and 330,000,000 francs ahead of the
by cable yesterday, was 3% for spot bills, all ma year preceding; while Treasury deposits show an
turities, and 3 1-I6@3p6% for sixty-day bankers’ excess of 230.000,000 francs from last year’ s record
acceptances to arrive arid 3 j^ @ 3 ^ % for ninety-day and of 218,000,000 francsJ comparing with 1910.
bankers’ acceptances to arrive. A week ago 2 % @ 3 % There have been reports in the local market that addi
was the spot quotation, while bills to arrive were 2 % @ tional exports of gold to Paris will be announced in the
3 1 4 % . Paris this week closes at 2 % % for spot bills, near future. We are infromed, however, that no
against 2j^ % a week ago, while bills to arrive yesterday engagements are under negotiation.
The statement of the Imperial German Bank indi
closed at
Berlin is quoted at 3 % % for all
cated
a further strengthening of tliE gold reserves of
maturities, which compares with 3 j^ % for spot and
39.376.000
marks, though in gold and silver combined
3y2% for forward bills a week ago. At Brussels and
Amsterdam private discounts still remain unchanged the increase was only 20,978,000 marks. Other evi
at 3% and 3% % , respectively. The official Bank dences of the reinforcing process was a reduction of
rates at leading foreign centres are: London, 3% ; 172.323.000 marks in note circulation and of 168,638,
Paris, 3% ; Berlin, 4p£%; Brussels, 4% ; Amsterdam, 000 marks in discounts, though loans increased 7,743,
000 marks. Deposits increased 48,156,000 marks.
4% ; Bombay, 3% , and Bengal, 3% .
There was a reduction in Treasury bills of 20,144,000
The weekly statement of the Bank of England amply marks. The Bank’s holdings of gold and silver amount
reflects the financial strain reported from the London to 1,277,126,000 marks, which compares with 1,196,-
140
THE
C H R O N IC L E
820.000 marks a year ago. Its loans and discounts
aggregate 1,101,071,000 marks, against 1,007,320,000
marks in 1911, while the outstanding circulation is
1.740.034.000 marks, comparing with 1,032,780,000
marks in 1911. That the active demand for funds in
Germany is connected with the legitimate demands of
trade is indicated by the official reports for the half
year ending in June that are just to hand by cable from
Berlin. These returns indicate that the German im
ports amounted to 5,093,000,000 marks, an increase
over the corresponding period of last year of 410,000,
000 marks, while the exports reached a total of 4,210,
300,000 marks, an increase of 318,000,000 marks.
German bankers have this week again entered the mar
ket as underwriters for new foreign issues. It is an
nounced from Berlin that they will take 72,000,000
francs of the total of 180,000,000 francs of the new Bul
garian loan, which is to be financed through Paris.
The German Government, it is understood, has dis
couraged its bankers of late from entering outside com
mitments, but an exception is made in the present case,
as a considerable part of the proceeds of the loan is to
be spent in Germany.
[VOL. LXXXXV.
fairly liberal. Out-of-town banks, however, are still
the chief buyers.
Call money has not advanced above 3% during the
week, and on Wednesday 2ys was the maximum,
while 2 % , which was current on Tuesday, was the
week’s minimum. The renewal rate has been a failindex of the gradual easing of the local situation, being
3% on Monday, comparing with 3% % on Friday last,
while on Tuesday a further reduction of y8% took
place, and .on Thursday a still further decline of the
same fraction. In detail, it may be noted that on
Monday the extreme call rates were 2)4 and 3% , with
the higher figure the ruling one; on Tuesday 3% was
the highest, 2% the lowest and 2% the renewal basis;
Wednesday’s maximum was 2)4% , lowest 2)4 and
ruling figure 2)4; on Thursday the highest was again
3% , with 2)4 the minimum and 2)4 the renewing rate;.
Friday’s highest was 3% , lowest 2)4% , with 2)4% the
renewal rate. Time money closed at a full reaction
from the )4 % advance of last week. The final quo
tations were 3)4 % for sixty days, 3 )4 @ 3 )4 % for
ninety days, 3 )4 @ 3 )4 % for four months, 3 )4 @ 4 %
for five months and 4)4% for maturities extending
into the new year. Mercantile paper remains on the
4)4 % minimum basis for sixty and ninety days’ en
dorsed bills receivable and also for four to six months’
single-name bills of choice character. In some in
stances 4)4% is demanded, even for choice bills, while
others are quoted 5 @ 5 )4 % .
The New York banks, having restored their surplus
reserve by a severe calling of loans last week, are dis
playing a somewhat more cordial spirit in their deal
ings with borrowers. This applies to demand loans as
well as to those for fixed maturities. The statement of
the New York Clearing-House on Saturday indicated
a contraction of loans of no less than $37,276,000.
For sterling exchange the market continues un
Deposits were reduced $26,677,000 and last week’s defi usually firm and reflects, of course, the active demands
cit of $5,413,200 was converted into a cash surplus of for funds not only in London but throughout the
$10,706,550. These are the actual totals— not the world. There have been additional sales this week
average— and include all Clearing-House banks and of finance bills drawn by representatives of London
trust companies. A year ago the surplus (including interests here on their own houses (thus avoiding
trust companies admitted to the Clearing House) was commissions), but with the easier rates current at this
$11,712,800, and two years ago that held by the banks centre and the firmer discounts abroad, it is not prob
alone was $33,907,250. It is quite apparent, there able that this movement has assumed active propor
fore, that the local money situation is not over-con- tions. Rumors have been current that early ship
fortable, and that any sudden demand, either on home ments of gold will be made for the account of the
or foreign account, could hardly fail to produce a Bank of France, which, as is well known, is deter
firmer basis for money rates. London cable advices mined as a policy to maintain its gold reserves. No
confirm our statement of last week of the sales here of engagements, however, have thus far been completed.
finance bills drawn on London at ninety days’ sight, The official statement of our own foreign trade, while
the proceeds being loaned here at 3 )4 @ 4 % for the it records a record-marking movement of merchandise
three months. These bills are described as “ kiting” in each direction for the fiscal year just ended, does
finance bills, as they cover the period when exchange not differ so greatly from last year in the net results.
is in light supply. They will, it is understood, in a Thus we find an excess of exports for the year of
large measure be taken up by cotton and other com $550,795,914, comparing with an excess of $522,
mercial bills when they mature. The Canadian ex 094,094 the year preceding. In gold an excess of
changes have been moving against New York, and in exports of $8,369,848 compares with an excess of
definite suggestions have been current of negotiations imports in the fiscal year 1911 of $51,097,360, and in
for a movement of gold to the Dominion. This move silver the year’s excess exports of $17,840,196 com
ment of the precious metal, however, has not as yet pares with excess exports in 1911 of $18,812,709.
materialized. Advices from the West indicate a de Demands for remittances for tourists are keeping up
cidedly firmer attitude of the banks in that section, unusually well, notwithstanding the decreased pas
and suggest earlier demands this season than usual by senger traffic of the steamship lines this year. The
the agricultural sections upon New York for financial Continental exchanges are still ruling in favor of the
facilities for the harvest. Winter wheat has now been British centre, the London check rate in Paris, ac
very generally harvested, and with the great crops suc cording to yesterday’s cable advices, being 25 francs
ceeding each other, there will, without question, be an 24)4 centimes, comparing with 25 francs 23)4 cen
insistent demand by the farming district right along. times a week’ ago and 25 francs 22 centimes a fortnight
In Chicago rates for paper have advanced about ago. The London check rate in Berlin has advanced
1)4% since the beginning of the month, and are to 20 marks 48)4 pfennigs, comparing with 20 marks
now quoted at 4 )4 @ 5 % , a large block of commercial 47)4 pfennigs one week ago and 20 marks 46)4 pfen
paper having been purchased by Chicago banks |nigs two weeks ago.
this week at the higher figure.
Here in New York j Compared with Friday of last week, sterling ex
mercantile paper remains on a 4 )4 % minimum ! change on Saturday was firmer for cable transfers
basis for general business and the supply continues I and 60 days, which were quoted at 4 8775@4 8785
—
and
in
at
L on d on
m ent
8475
@ 4
cau sed
up
to
8470.
h ig h e r
w ere
w as
tr a n s fe rs
a
d e c lin e d
5
on
M on day,
and
c a b le
s tiffe n in g
lig h t
o ffe r in g s
dem an d ,
4 8 7 8 5 @ 4 8795
10
p o in ts
on
60
and
th e
and
r u le d
c a b le
tr a n s fe rs
u n ch an ged.
T h u rsd ay,
is ts ’
T h e
c o v e r in g
le tte r s
of
to
of
u n d erton e
sh orts
c r e d it
and
h a v in g
w as
been
c h ie fly
f o r a r is e o f 5 p o in t s ; t h e fin a l r a n g e w a s*4
fo r
dem and
6 0 -d a y
b ills
m ark et
c a b le
and
4 8 7 8 5 @ 4 8 /9 5
r e m a in e d
c o n t in u e d
tr a n s fe rs
stea d y ,
8475
fo r
fo r
at 4 83 @ 4
c lo s e d
c a b le
to
8760
b ills
and
C otton
fo r
w it h
in te r io r
b a n k in g
have
b in d
th e
to
error.
e x p la in
h is
sta te
th ou sa n d
in q u ir e is
o ffic e
It w as
le a fle ts
E n g la n d
w ere
a n d W a le s ,
w ere
fo r
it,
d is c la im
b y
e x p la n a to r y
and
th ere w a s
c a r e fu lly
G overn m en t
fo u r -p a g e
e m p lo y e r s
a tta ch ed
th e
and
m akes
a
to
e m p lo y e r is
a
c o m in g
in fo r m a tio n .
it
is
to
been
and
th e
th e
fo r
d is b u r s e r
to
th is
each
A s
to
sta m p s
e m p lo y e e ,
d ed u ct
of
a
th e
p o r t io n
c o m p u ls o r y
th e
fu n d .
fro m
c o n tr ib u tio n
r e s is t a n c e is d i r e c t e d .
great
in
e m p lo y e e s ,
and
fo re s e e n
cards
a ll
a d d it io n .
card
a u th o r iz e d
and
has
n e a r ly
s m a ll
c u s to d ia n
w age,
becau se
w a ste
la r g e
of
of
th e
tim e
c le r ic a l
in v o lv e d
e s t a b lis h m e n t s ;
P r u d e n t ia l In s u r a n c e
C o m m is s io n e r s
an y
on
p la n
w h ic h
C om pan y
to
in
m eet
o ffe r e d
to
u se
under
w o u ld
th e
A ct
r e lie v e
r e fu s e d
e m p lo y e r s
to
s a n c tio n
o f th a t d u ty .
A g ric u ltu ra l la b o r e r s , ca s u a l la b o r e r s , w o rk e rs a t h o m e ,
w o r k in g
p a y m en t ran ged
in s t it u t io n s ,
ago
o u t le c tu r e r s t o
d ir e c t e d
fiv e
th e
th e
g ir ls ,
keepers
4 85.
tic u la r
T h e N e w Y o r k C le a r in g - H o u s e b a n k s , in t h e ir o p e r a
t io n s
send
to
its o w n v a s t o r g a n iz a t io n fo r h a n d lin g th e s e c a r d s , b u t
and
to
be
is
th is th e
fo r p a y
4 8 5 ; g r a in fo r p a y m e n t 4 8 4 %
to
lia b ility
w h a t is r e q u ir e d
m on th s
C o m m is s io n e r s ’
S ta te
h a n d lin g
days
C o m m e r c ia l
d ocu m en ts
to
expen se
and
s ix ty
a ll
th e
T r o u b le
th e
fo r d e m a n d
tra n s fe rs .
8 4 3 /2
@ 4 8 5 3 /i -
at 4 8 3 %
4 8 4 %
bu t
S everal
t h a t th e m o s t d e t e r m in e d
8755
F r id a y
th e
T h e
tr a n s fe rs ,
dem and
p o in ts ,
fo r 60 d a y s, 4 8 7 5 0 @ 4
ban ks
fro m
5
on
C lo s in g q u o t a t io n s w e r e 4 8 4 6 5
4 8 7 9 0 @ 4 88
m ent
ra tes
a d v a n c in g
O n
som e
k n ow
w as
th a t
som e
to
S ta te
r e s p o n s ib le
c a b le
u n ch a n ged .
s h o w in g n o n e t c h a n g e .
@ 4
fo r
to
s a id
b y
are
tou r
8745 @ 4
m eans.
le ctu r e r
th a t
w h ic h
days
fo r
a u th o r ity
t io n
of
fir m e r
a dem and
w it h o u t
q u ite
I t is k n o w n t h a t t h e s c h e m e i n v o l v e s a w e e k l y c o n t r i b u
and
4 8 7 8 0 @ 4 8790; 60
any
d a ily
E n g lis h d is c o u n t s ; a t t h e c lo s e d e m a n d fe ll t o 4 8 7 4 0 @
4 8750
th e
and
days.
w e a k e n in g
A ct
and
r e c e n t ly
fo r
h eavy
so
t o b e s e n t t o e v e r y h o u s e h o ld e r in
q u o ta tio n s
fo r
d u ll
do
seem s to
m e n t s , a s w e ll a s t o g lid e o v e r d o u b t f u l p o in t s .
and
fo r
w as
to
ra tes
c lo s in g
4 8 4 6 5 @ 4 8475
to
of
o f b ills
to
a G o v e rn m e n t p la n
4 8460
L on d on ;
m ark et
w h a t th e
dem and
to
p o s s ib le
F or n ob od y
sta te
tia n s fo is
d e c lin e d
fu rth e r
be
un
fir m n e s s
at
and
th e
w as
c o n t in u e d
h ow ever,
p art to
d is c o u n ts
W edn esday
ra tes
8750
GO d a y s ,
in
—
a m o re fa v o r a b le b a n k
4 8740 @ 4
due
~
dem and
T h e
advan ce
4 8 7 5 0 @ 4 8760
c a b le
O n
r e s p e c t iv e ly ;
8740.
an
T h ere
T u esd ay,
th e
,
d is c o u n ts a n d
8 7 8 0 @ 4 8790;
on
-------------~------------------- -
4 8730 @ 4
h ere
m o v in g
4
-
4 8465 @ 4
ch an ged
141
THE CHRONICLE
July 20 1912.]
........... .
and
g a in e d
and
c le r k s ,
oth ers
h a r d s h ip
h ouse
d o m e s t ic
d is c o v e r e d
to
th e m s e lv e s ,
serv a n ts
a c tu a lly
serv a n ts,
and
h ouse
p r o c la im
and
w rote
a
th e
fe w
to
par
m is t r e s s e s
th e
n ew spapers
$ 8 ,8 6 9 ,0 0 0 n e t in c a s h a s a r e s u lt o f t h e c u r r e n c y m o v e
o n th e ir o w n a c c o u n t , d e c la r in g th a t t h e y w o u ld n o t o b e y
m en ts
th e A c t a n d d e fy in g M r. L lo y d G e o r g e t o im p r is o n th e m .
fro m
th e
fo r
th e
w eek
th e in te r io r
s h ip m e n ts
S u b -T r e a s u r y
e n d in g
have
have
reach ed
o p e r a tio n s ,
$ 1 ,9 0 0 ,0 0 0 , th e c o m b in e d
in to
and
o u t o f th e
J u ly
19.
a g g reg a ted
N ew
T h e ir
$ 6 ,2 9 5 ,0 0 0 .
w h ic h
o c c a s io n e d
of
Y ork
w h ile
A d d in g
re
u lt
r e c e ip ts
$ 1 5 ,1 6 4 ,0 0 0 ,
a
t h e flo w
T h e se p ro te sts fro m
th e
lo s s
of
A
of m on ey
b a n k s fo r th e w e e k
ap
W e e k e n d in g J u l y 19 1 9 1 2 .
N e t C h a n g e in
H a n k H o ld in g s .
O ut o f
H anks.
B a n k s ’ I n t e r io r m o v e m e n t .....................
S u b - T r e a s u r y o p e r a t i o n s ........................
5 1 5 .1 (5 1 ,0 0 0
2 4 .3 0 0 ,0 0 0
SO .2 9 5 .0 0 0 G a in
2 6 ,2 0 0 ,0 0 0 L o s s
T o t a l ..............................................................
S 3 9 .1 0 4 .0 0 0
5 3 2 ,4 9 5 ,0 0 0 G a in
T h e
in
fo llo w in g
ta b le
in d ic a te s
th e p r in c ip a l E u r o p e a n
th e
am ount
of
SO ,9 0 9 ,0 0 0
J u ly
S ilv e r .
J u ly [ 2 0
£
£
Kngland-. 40,9)52,471
F ran ce__ 131,399,880 32,249,160
G e r m a n y . . 47.144.000 10,200.000
R u s sia ___ 151,855,000 7,979,000
A u a - H u n . 51.592.000 12.237.000
S p a in ------ 17,050 ,()!)() 3 0 .0 3 9 .0 0 0
3.000,000
I t a l y _____ 42.404.000
910,000
Netherl’tls 12.012.000
0.579,333 3,289,007
N a t .B e lg ..
5,29 4,000
Hwcilen . 0,053,000
Swltzcrl’il
2,015,090
Norway - .
T o ta l.
G o ld .
£
£
fo r
d octors
w it h o u t
th e
o b je c te d
to
a s in s u ffic ie n t
and
th e ir
fe w
m on th s
and
p c .-
T h e
e x h ib it io n s
of
w ent to
m ass
40,907,037
1(51,138,200
59,841,500
152,789,000
08,020,000
47.055.000
43.095.000
13.274.000
9.953.000
1.710.000
6.380.000
2.229.000
w h ic h
o ffe r e d
in
th e
em anded
at
th e
in
in
L on don
L iv e r p o o l;
d is s a t is fa c t io n
w h ic h
and
a ll o f
has
a
th is
been
fre s h
is
L lo y d
e ffe c t
o n ly
g r o w in g
ol
on
G eorge
M on day
th e A c t a t a
r e v o lt
th e
of
d ock
c lim a x
s in c e
w e n t t h r o u g h P a r lia m e n t in D e c e m b e r , a n d
in s u r e d
A ct
had
t
person ,
to
have
C h a ir m a n
th a t
th a n
s a m p le
h a lf-d o z e n
it
of
th e
m ig h t
th e
th e
of
A ct
E n g lis h
a ccou n ts
s p e c ifie d
I n s t it u t e
be
seen
r e a s o n a b le .
A n
have
th e
th is
w as
in v o lv e
G ove
le a s t a s t o
e le c t
o f th e
not
a n in c r e a s e d
T h e
and
and
th e
nm ent
any
B r itis h
n ;
he
f p r o fe s s i
den ou n ced
O p p o s it io n
in t e n s ify in g
n ear.
In
nal
it
sp ace
on
to
as th e
tw o
th is
w h ic h
took
w as
1 0 ,0 0 0
th e
d a te
fo r
g o in g
d a ily ;
in
(b e ca u s e
had
a
M ay,
an n ou n ced,
and
m em bers,
draw n
of several
p r o fe s s io n
u n s e ttle d ,
P r e s id e n t
o b je c ts
not
on
it
th e
th is
th e “ T im e s ’
th e
p u b lic .”
has
been
o p e r a tio n
drew
th a t th e S e rv a n ts
m e m b e r s h ip
an
to
tou ch
fo rm , a n d
in to
th e
T h e
in a le t t e r t o
o r g a n iz e d
m ore
th a t
d a y
do
fra u d
th e
s h illin g s ’ d iffe r
M e d ic a l A s s o c ia t io n
, ; nd
w as
r e c e iv e d
F e b r u a r y , it w a s r e p o r t e d
g r o w in g
6d.
m ade
a c tio n .
a s “ a p a lp a b le
a ls o
8s.
w as
to
A cco u n ta n ts,
is s u e b e t w e e n
r e m a in s
con cu rren t
a
p r a c t ic in g
s u b m itte d
a n n u a l o u tla y
e n tir e s c h e m e , o n m a n y p o in t s
e n r o lle d
a
of
a year
m e d ic in e
d octors
th e
fa v o r a b ly
bu t
it w o u ld
p r e s e n t a t io n o f th e d e t a ils o f th is s c h e m e , n o r w o u ld it
expen d
of
C h a rte re d
en ce,
L eague”
to
of
s p lit th e
a
p r o fit a b le
of
d o c t o r s m ig h t c o n s e n t t o
w as
be
o b ta in e d .
c itie s
w h eth er
and
n ot
n u m ber
M e d ic a l A s s o c ia t io n
in t im a t io n
d is c u s s in g a n d o b je c t in g t o th e s c h e m e fo r a t le a s t a y e a r .
w o u ld
th em
s ta n d in g
an n ou n ced,
th e
been
B r it is h
R e g is te r s A s s o c ia t io n
It
of
e x c lu s iv e
T h e
T a x
(e s p e c ia lly th e in s u r a n c e jo u r n a ls )
th e ir
w as
th em .
to
e d octors w as 8s. 6 d .
been
jo u r n a ls
it
th e
engagem en t
c o n s u lt in g
in ju r e
and
in to
p roposed
tw o -th ir d s
b y
a p p lia n c e s .
som e
at
took
to
m e d ica l
fe ll
p r o fe s s io n a l
p r e v io u s ly
th a t
ufre e ”
A ct
r e m u n e r a tio n
p r a c t ic e ,
ago,
under
each
and
IN S U R A N C E
th e e x tr e m e o f b u r n in g a c o p y
m e e tin g
w ork ers
d is p le a s u r e
A ct
a
is
th e
£
£
33,995,320
15,041,550
7.727.000
12.092.000
31.009.000
3.001.000
1.593.000
.3,317,607
SCHEM E.
N a t io n a l I n s u r a n c e
of
as te n d in g
gen eral
w ork
s u r g ic a l
N A T IO N A L
m a k in g
th e
m illio n s s t e r lin g )
B R IT IS H
sch em e
T o ta l.
Total week i l l ,995,084 100,649,827 021,045,511 501,853,800 100,644,537 01 1,498,337
I’ rev. week 511,883,477 107,785,280 010,(5(58.757 199,047,20.. 109,714,177 504,411,380
THE
th e
fra m e r
of
to
1911.
S ilv e r .
40,902,471 40,907,037
105,014,010 127,412,880
05,311.000 41,199,950
1 6 3 .8 3 4 .0 0 0 145,002,000
03.829.000 55.934.000
47.139.000 1(5,580,00:
40.009.000 40.091.000
T 2 ,958,000 11.070.000
9.809.000 0,035,333
5.201.000 4.710.000
0,053,000 0,380,000
2.015.000 2.229.000
m a n y a n d v a r ie d
s ig n a tu r e s r e q u ir e d t o m a k e b in d in g a p le d g e o f r e fu s a l
b u llio n
______
IS 1912.
G o ld .
of
th e
m is ta k e
m in im u m
H anks o f
part
and
stra n g e
T h ey
SS ,8 0 9 ,0 0 (1
1 ,9 0 0 ,0 0 0
ban ks.
p r o m in e n t
a tten d a n ce,
p e a r s t o h a v e b e e n a g a in o f $ 6 ,9 6 9 ,0 0 0 , as fo llo w s :
In to
H anks.
c la s s e s a r e t o o
fo r s t a t e m e n t in d e t a il, w it h a s in g le m a r k e d e x c e p t io n .
“ A m en d
c la im e d
fro m
a ll
of
5 ,0 0 0
th e
to
c la s s e s
A ct
have
an d
142
THE CHRONICLE
o c c u p a tio n s ,
an
in
th e
a s s o c ia tio n
p u rpose
of
a d v is in g
and
fir s t
has
n in e
been
r e s is t a n c e ,
and
fin a n c ia lly
days.
fo rm e d
a
fu n d
a id in g
In
w it h
w as
th o se
S c o tla n d
th e
avow ed
sta rted
w ho
w ere
fo r
p rose
c u t e d u n d e r t h e A c t ; it w a s a ls o s a id t h a t t h e th o u s a n d s
o f le tte r s
m a in
ad d ressed
e v id e n c e
and
k eep
of
w eek
th e n ew sp a p ers
d e s ir e
th e
of
n ot
la w ,
e v a d in g
p r o v is io n s ."
fir s t
to
a
w it h in
p o s s ib ility
its
of
it
T h e
to
bu t
or
to
c la im in g
in d ic a te
h ow
fin d
if
in
to
th e re
re p orted
th a t
one
th e
ob ey
is
e x e m p tio n
d is tu r b a n c e s
o p e r a tio n
“ c o n ta in
kn ow
a
fro m
in
th is
jo u r n a l
w as
n o t m is t a k e n in s a y in g t h a t a la r g e m a jo r it y o f w o r k e r s
v ie w
th e
w hen
r a id
A ct
its
on
s h a ll
w ages
be
cau se
“ w ith
great
e x tr a o r d in a r y
and
d ic ta tio n
expen d ed,
fo r
are
h ow
a
c o n s id e r e d ,
d is lik e ,
p o r tio n
th e re
and
in c lu d e
is
a
of
th ose
n ot
m u ch
Just
s e r io u s ly
su ch
a
o b je c ts
le a s t;
b u t
are
e x c e lle n t ,
s u s u a lly a g g r
sch em e
c o n s id e r e d
at
T h e fo r e g o in g s h o w s
a b le
degree
as
th is
bu t
n ot
lik e ly
in
our
ow n
cou n try ,
m a
v ie w
w it h
has
th e
u n iq u e
to
be
fo r
th e
in te re s t
th is
d is t in c t io n
th a t
u rban
in
s p ite
th e
ten d en cy
d e s ig n s
to
c o m p u ls io n ,
b le s s .
W e
Its
m u st
b le s s in g s
n ote,
and
are
if
it
ou t
tow a rd
su ch
c o n c e n t r a t io n
th e
oth er.
rem ark
b y
he
tr y in g
w as
T h ere
M r.
B ir m in g h a m
is
L lo y d
to
e x p la in
T ow n
c a r e fu lly
c h o o s in g
c iv iliz e d
c o u n t r ie s
H a ll
h is
is
a
s u g g e s tiv e n e s s
G eorge,
h im s e lf
and
year
to
s a id
w ord s)
“ to
a
tw o
th e
s im ila r
decade
creased
th e
p e r io d s
com p ared .
p o p u la tio n
2 1 % , w h ile u r b a n
of
th e
p o p u la t io n
a n d ru r a l p o p u la t io n o n ly 1 1 .2 % .
in
each
w ere
so
c la s s ifie d , 7 5 2 in
v a n ia ,
559
507
C o lo r a d o ,
in
in
O h io ,
fo r n ia . * T h e
sam e
tim e ,
to
w it h
each
129 an d
T h e
in
I llin o is ,
w as
D a k ota
1 ,0 0 0 ,
M is s is s ip p i
S ou th
D a k ota
508
110
th a t
an
in
th e
one
w hen
a u d ie n c e
(p o s s ib ly
A m on g
th e
m ent n one
o c c a s io n
OF
URBAN
s ig n ific a n t
has
in
w ith o u t
d e s id e r a tu m
of
m ore
g rea ter
S u ch
of
o f A m e r ic a n
d e v e lo p
a t t e n t io n
been
s p e c u la t io n
c o n c e r n in g
th e
p r im a ry
c a u s e s a n d u lt im a t e c o n s e q u e n c e s t h a n t h e p r o g r e s s iv e
c o n c e n t r a t io n
t r y 's
p o p u la tio n
p u b lic a tio n
ta in in g
in
o f
th e
of
a
in c r e a s in g
in
p r o p o r tio n s
u rban
b u lle tin
th e
ta b u la tio n s
a p p r o x im a te ly
in g
C en su s
th e
h a v in g
2 ,5 0 0
d e s ig n a tio n
tie s
as
th a t
liv in g
in h a b ita n ts
of
in
in
or
to
each
area
u rban
1900
th e
of
of
th e
as
c o m m u n it ie s
and
463
in
d o m icile d
S ta tes
in
1910.
cen su ses w a s
its
it
app ears
w it h in
361
th e
w ere
in
295
1890,
d is tr ib u tio n
th is r e s p e c t o f t h e c o u n t r y ’s p o p u la t io n
la s t fo u r
and
c o m m u n i
th e re
1880,
T h e
A ccep t
u rban ,
su ch
at each
in
o f th e
d a ta
are
show n
3 0 ,7 0 7 ,1 8 5
4 5 ,1 0 7 ,3 0 0
4 2 ,6 2 3 ,3 8 3
4 0 ,3 4 8 ,8 8 3
T o t a l -------------------------------------- 5 0 , 1 5 5 , 7 8 3
6 2 ,0 4 7 ,7 1 4
7 5 ,0 0 4 ,5 7 5
0 1 ,0 7 2 ,2 6 6
I t w ill b e n o t e d t h a t t h e
100 0.
it
of
th e
as
r a p id ly
1880 to
co u n try grew
1910 th e p o p u
a b ou t fo rty
a n d t h a t a b o u t t w 'e n t y - e i g h t m i l l i o n s
g row th .
g row th ,
T h e
as
r u r a l r e g io n s , is s e t f o r t h
to
Number.
— 1880
_. .
U r b a n ------------------------- 7 , 0 4 7 , 7 8 5
R u r a l -------------------------- 4 , 8 4 4 , 1 4 6
T o t a l ........................... 1 2 , 7 0 1 , 0 3 1
,607
,000
,518
,2 7 6
,6 4 5
.7 4 5
2 ,0 7 1
1 ,3 6 5
1 ,0 8 8
1 ,5 0 7
1 ,4 1 8
1 ,2 7 7
1,100
1 ,0 8 6
751
1 ,8 7 1
2 ,2 7 9
%
7 0 0 3 2 .2
580 8 3 .0
543 3 8 .0
,968 4 7 . 0
,4 3 8 5 1 . 4
,096 4 5 . 8
,3 0 8 2 7 . 2
185 3 3 .1
3 8 0 2 2 .4
8 83 3 0 .0
5 .0
,6 1 0
ten
years
w h ile
th e
h ig h e s t
w it h
of
grow n
fro m
th e
c itie s
th e
of
la r g e r
th e
of
p o p u la t io n
th a n
and
to
T h e
and
c itie s
in
n ow
a
in
p op u
over
2 4 ,4 8 1 ,0 5 3
th ese
as
appear
c o m m u n it ie s .
1900
o n e -t h ir d
cou n try
grow th
in h a b ita n ts
in
o f 4 4 .3 % ,
ru ral
le s s
as
ra tes
5 0 ,0 0 0
1 0 ,9 6 8 ,8 2 4
ra te
s tr ic tly
21 .0
has
1910,
in c lu d e
2 6 6 in e a c h
1 ,0 0 0 o f t h e p e o p le o f t h e n a t io n , a s a g a in s t
2 2 3 in e a c h
1 ,0 0 0 in
o f th e
tr y ’s
n u m e r ic a l
T h ese
are
th e
fa cts
of
and
S ta tes.
la s t
p r o fo u n d
s o c ia l
T h ey
and
ten
th e
c lu e
of
its
years.
and
fu tu r e
in d u s t r ia l
a
cou n
4 7 %
im p o r ta n c e
u p on
a ffo r d
o f th e
absorbed
th e
b e a r in g
a t th e b e g in n in g
b u t 2 2 .3 %
h ave
d u r in g
c lo s e s t
d e v e lo p m e n t
U n it e d
th ey
g row th
A lth o u g h
c it ie s h a d
p o p u la t io n ,
h ave
1900.
d e ca d e th ese
to
m u st
e c o n o m ic
w e lfa r e
th e
of
b a s ic
th e
ch ar
a c te r o f m a n y o f th e ch a n g e s th a t h a v e a ro u se d in q u ir y
and
serve
p a r t ia lly
p r o b le m s
th a t
e le m e n ts
d o
w it h
to
s t ill
e x p la in
a w a it
o f th e in c re a s e d
a u g m en ted
are
th e
cost
p r ic e s
r e s u lt
of
th e
e s s e n t ia l
s o lu t io n .
of
n a tu re
S u r p r is e
at
o f liv in g w h ic h
th ose
h ave
n e c e s s it ie s
a g r ic u ltu r a l
a c t iv it ie s
of
th ose
of
to
life
m u st
be
th e
bu rden
th row n
th e
n o
of
upon
dem and,
stu d en t
of
e x is te n ce
p r o d u c tio n
a
of
th is
ru ra l p o p u la tio n
c o n s ta n tly
s o c ia l
o f *a
d e c r e a s in g
c o n d it io n s
fu r th e r
th e
u rban
and
6 2 .1
3 7 .0
in
can
been
n u m bers,
fa il
ten d en cy
has
r e la tiv e ly
to
to
to
and
r e c o g n iz e
su ch
g r o w in g
ou t
of
th e
a d d it io n a l
dem ands
h ig h e r
of
n u m bers
w h ose
sta n d a rd s
th o se
m oral
tr a n s itio n
1000—
8 ,0 7 6 ,0 6 2
4 ,0 6 0 ,8 0 0
6 1 .9
3 8 .1
1 1 ,8 2 6 ,1 0 8
4 ,1 5 1 ,4 0 3
7 4 .0
2 6 .0
1 3 ,0 4 6 ,8 6 1
1 0 0 .0
1 5 ,0 7 7 ,6 0 1
1 0 0 .0
to
Number.
— 1000
e x is te n ce
of
T h e
%
of
o f r u r a l life .
th e
to
Number.
— 1800
is ,
o f th is in c r e m e n t
b e lo w :
%
ch a ra cter
th a t
m illio n s ,
p r e c is e d is t r ib u t io n
b etw een
1800—
1 0 0 .0
,4 7 7
grow n
la s t
c o n n e c tio n
at
th e
are th o se o f u rb a n ra th er th a n
cou n try ’s
,480
has
th e
la t io n
or
th a t
S ta tes
in
in c r e a s in g
u rban
app ears
U n it e d
w h o le ,
cost
th e
,5 0 1 ,1 7 4
, 0 1 0 ,6 6 7
,0 4 0 ,8 3 0
,8 4 0 ,4 5 8
, 1 7 8 ,0 1 5
, 0 6 2 ,7 6 3
, 6 0 0 ,2 0 8
3 6 4 ,7 0 3
1 0 5 ,6 5 6
,1 1 9 ,5 2 8
,2 2 0 ,3 5 5
T o t a l ...................................................................... 7 5 , 0 0 4 , 5 7 5 0 1 , 0 7 2 , 2 6 6 1 5 , 0 7 7 , 0 0 1
th e
rep resen ts
,4 7 4
,0 8 7
,2 0 6
101 0.
fo r e g o in g s h o w s t h a t d u r in g
o f th irty y e a rs fro m
o f th e w h o le
Increase.
1 01 0.
d im in is h e d w h e n i t is r e a liz e d t h a t i n s o la r g e a n e x t e n t
1800.
2 2 ,7 2 0 ,2 2 3
4 0 ,2 2 7 ,4 0 1
la t io n
be
d is
b e lo w :
1 , 0 0 0 , ( '0 0 o r m o r e ________________
6 ,4 2 0
5 0 0 . 0 0 0 t o 1 , 0 0 0 , 0 0 0 _____________
‘
1 ,6 4 5
2 5 0 .0 0 0 t o
5 0 0 , 0 0 0 __________
2 ,8 6 1
1 0 0 .0 0 0 t o
2 5 0 ,0 0 0 - 3 ,2 7 2
5 0 .0 0 0 t o
1 0 0 , 0 0 0 _______
2 ,7 6 0
2 5 .0 0 0 t o
5 0 ,0 0 0 .
2 ,7 8 5
1 0 .0 0 0 t o
2 5 ,0 0 0 ...
4 ,4 0 0
5 , 0 0 0 tO
1 0 , 0 0 0 ....................
3 ,2 7 8
2 ,5 0 0 t o
5 , 0 0 0 ______________ I I I
3,354
L e s s t h a n 2 ,5 0 0 b u t I n c o r p o r a t e d . _ 6 ,2 4 7
R u r a l , n o t I n c o r p o r a t e d ________________ 3 8 , 0 4 0
th a t
a s fo llo w s :
1 8 8 0 .'
U r b a n __________ ....................... 1 4 , 7 7 2 , 4 3 8
R u r a l ............... .. .. ................ . . 3 5 , 3 8 3 , 3 4 5
th e p e r io d
can
fig u r e s w h ic h
Number.
c o m m u n itie s
p o p u la t io n ,
U n it e d
c o lle c t e d
d a te.
th ose
m ore
person s
con
b r in g d o w n th e c o m
presen t
ru ral
1 ,0 0 0
B u rea u
o f d a ta
o f a ll p e r s o n s n o t l iv i n g in
c o n t in e n t a l
405
th e
c la s s ific a tio n
b e lo n g in g
ou t
to
cou n
T h e recen t
C en su s
1 9 1 0 a ffo r d s a n o p p o r t u n it y t o
p a r is o n s
th e
c o m m u n itie s .
of
r e s u lts o f th e
of
A rkan sas
p o p u la t io n
o f th e
100 0.
I hus
or
115,
th e
in h a b i
Population.
in
P O P U L A T IO N .
p h a ses
r e c e iv e d
C a li
131.
Communities Inhabited by—
o f p r o p r ie to r s h ip o v e r t h e s e w o r k e r s . "
GROW TH
in
c lo s e t h e r a p id g r o w t h o f t h e c o m m u n it ie s o f t h e la r g e s t
s iz e .
i n th e S t a t e a s e n s e
c u ltiv a te
M a r y la n d .
618
u rban
w it h
w it h
a stu d y
in
and
Y ork
P e n n s y l
rep resen ted , a t
w it h
c o n c e n t r a t io n
s t ill fu r t h e r b y
6 0 4 in
W a s h in g to n
e x trem e
w e r e c la s s i
1 ,0 0 0 in N e w
Jersey,
N orth
g r o w in g
tra ce d
6 1 7 in
830
o th er
b y
N ew
in
1910 833 person s
E n g la n d
fie d a s u r b a n r e s id e n t s , 7 8 8 in e a c h
th is
cou n try
in c re a s e d 3 4 .8 %
In
1 ,0 0 0 in h a b it a n t s o f N e w
th e
e ith e r
D u r in g
w h o le
g ifts
ago,
been
d u r in g
of
la s t
on
w it h o n e h a n d it flo u r is h e s a s c o u r g e o f d r a s t ic p e n a lt ie s
w it h
c o n s id e r
had
of
proposed
h o ld s
th e
w h ic h
y e a r s w a s m o r e in t e n s e ly a c t iv e t h a n in
b e in g g e n e r a lly a n d v e h e m e n tly o p p o s e d b y th e p e rs o n s
it
of
c o n c e n t r a t io n
la s t t e n
v a te ra th e r th a n
is
w e
b e n e v o le n t p la n , w h ic h
th e
of
a tta in e d p r io r t o t h e c o m m e n c e m e n t o f t h e la s t d e c a d e ,
ta n ts
th e
m ea n s are b a d ; p a n a ce
resen t
and
w h ic h
w o n d e r ."
U n d o u b te d ly
h e a l.
s u s p ic io n
p r o v is io n s ,
[VOL. LXXXXV.
are
and
n ot
s o c ia l
as
p r o b le m s
e a s ily
in v o lv e d
d e fin e d ,
bu t
n o
in
th is
one
can
1910—
%
q u e s tio n
m u st
be
th e ir
th e
n e c e s s a r ily
im p o rta n ce .
o c c a s io n
of
A n y
su ch
b e c o m e e s p e c ia lly
p e r io d
of
p r o b le m s ,
a cu te
p e n d in g
tr a n s itio n
and
th e
th ey
resto-
r a t io n
of
h a b its ,
fie d
e q u ilib r iu m
m an n ers
vast
m u n it ie s
la r g e ly
in
a
been
draw n
a n d la w s .
th e
s o c ia l
fift e e n
is
m ore
ten d en cy
a
th is
te n s ity
b y
new
w it h
in
d iffe r e n t
th e
la s t
ten
p h ilo s o p h y
tra ced
and
cu s
ra th er
th a n
cau ses
to
to
th a n
th e
th ose
w h ic h
s p e c u la te u p o n
w ill
th a t,
progress
sh ow n
decade
la s t
of
fa r
it
m ay
m ore
th a n
th a t
ou gh t
is
is
of
to
th a t
h a lf o f
or
n ot,
th e
in
w ith
th e
to
its
decade
C en su s
of
p e o p le
m ovem en t
c lo s e
and
th e
A m e r ic a n
th is
its
m ore
g iv e n
and
con
B u t
d u r in g
be
W h eth er
p o in t
be
m an y
a u g m en ted
s h a ll
a p p r o x im a t io n
t h e r e is n o c le a r e v i d e n c e
e c o n o m ic
o f th is
perh ap s
record .
fo rce
w e ll
p a c e s u r e ly s u g g e s ts th a t
m o r a l,
th e
in c o m e
o f a reta rd ed
n o t le s s c o n s id e r a
b e a r in g u p o n th e s o c ia l,
p o litic a l
h e a lth
of
th e
G as
of
th e
&
FOR TH E
fin a n c in g
tin u e d
on
o f
th e
cu rren t
of
su ch
a
h ea vy
of
th is
p r is in g
c a le n d a r
of
p e r io d
to ta l
fo r
'f h e
th e
year.
th e
w ill
and
of
stock s
or
b oth ,
m ore
B y
of
ju s t
exch an ge
or
lis t e d
r e s p e c t iv e ly ,
in
m ore
or
th e
m ean
le s s
P .
th e
to
bon ds
%
of a
lit t le
yth e
new
E x
th is
grou ps
m eans
agem ent
th e
th e
1910.
average
F or
of
th e
fo r
A m e r ic a n
M .,
L o r illa r d
a
c a p it a l,
c la s s
th is
of
s ix
fo r
th e
o f th e
N ew
Y ork
of
th e se
th e
en or
year
th a n
year
to
fo r
s w e ll
1912 w as
W e ll
h a lf-y e a r ’s
b illio n
d o lla r
ev en t,
52
m illio n s
L ig g e tt
175
A m e r ic a n
C ity
b illio n s ,
T ru st.
&
m illio n s
S n u ff,
W e y m a n -B r u to n
Y ork
d o l
a g g reg a te.
th ereof
M yers
th e
w ith
and
th is
u n le s s
I le lm e ,
N ew
C o.
T h ir d
th e
w e
r e fe r
ow n
p u b lic
A ven u e
6s o f th e
36
m illio n s
have
e x a m p le s
sep a ra ted
w it h
to
th e
fo r m a tio n
th e sto ck
s e r v ic e
s e c t io n s
com m on
a ll t h e c o n t r o lle d
or bon d s,
c o m p a n ie s
o f th e
in
cou n try .
o w n e r s h ip
it
is
c o n c e r n s , s m a ll a s
a d v a n ta g e s o f a cen tra l e x p e rt m a n
e c o n o m ie s in
s o le ly
to
o p e r a tio n
a fe w
th ere
m anagem ent
th a t
have
in
g re a t c o m p a n ie s .
is
of
room
th e
fo r
th e
A lo n g
som e
e n t e r p r is e s
in te r e s t h a s b e e n t a k e n in
flo a t in g
have
in
fo r
corp ora te
m an y
c o m p a n ie s
in
th e
W ork s
(2 0
m o b ile )
cen t
or
fo rm
years
fir m s .
lis t in g
of
abu ses
is
of
th e
65
th e
of
r e c e n t m o n t h s in th e
in d u s t r ia l
O f th is
m illio n s ),
stores,
of
in
stock
C o r p o r a tio n
past
fa c t
th e
w e
(1 5
as
have
r e m in d e r s
and
W o o lw o r th
p r e f.)
and
th a t
p r iv a te
L o c o m o tiv e
(c a r r ia g e
m illio n s ),
m illio n s
con cern s
t h r iv e n
B a ld w in
S tu d eb a k er
(4 1
c u ltu r a l im p le m e n t s ),
each
of
1. S IX
5
R u m e ly
a u to
&
10
(a g r i
10 m illio n s .
th e
d u r in g
la s t
th e
ten
s ix
years
M ONTH S’ LISTINGS ON
m o n th s e n d in g J u n e 3 0
are
N EW
as
fo llo w s :
YORK
STOCK E X C H A N G E .
L .
1012 . .
‘L *n
1 9 1 1 .....................................
170.062.500
347,367,800
1 9 1 0 .....................................
1909 ........... .........................
345.826.863
443,268.700
1908 .....................................
101.527,914
1907 .....................................
1906 .................... .............. - Zl52.015.000
207,800,000
1905 .....................................
193,144.500
1904
...............................
115,577,150
1903 .....................................
12,798,000
(Six Months.)
1 9 1 2 _________ __________ S181.407.4ic $175,578.0(1" $301,357,345 $661,343,685
38.000,000
196,443,960 410,794,460
1911 .....................................
176.350,500
1 9 1 0 .................... ................. 234,268,990 412,643.400 438.956.880 1,085.869,270
1909 .................... ................. 217.015.150 250,507.600 314,035,470 781,558,220
158,501.700
11,417,300 241,807.000
1908 .....................................
71,888,000
90,400.700 308.079,100
80,821,050 479.300,850
1907 .....................................
99,065.900
16,240,700 314,814,900 430.121.500
1906 .....................................
99,889.200
191.381,400 358.064,800
1905 ......... .......... .................
66.794.200
1 9 0 1 .....................................
11,190.400
41,527,300
30.336,900
38,791.600
165,906,995 290,957,435
1903 .....................................
86,258,840
N o t e . — A p p l ic a t io n s f o r t h e lis tin g o f t r u s t c o m p a n y r e c e ip t s a n d o f s e c u r it ie s
m a r k e d •‘ a s s e n t e d ” (I f p r e p a r a t o r y t o r e o r g a n i z a t i o n ), o r o f s e c u r it ie s s t a m p e d
" a s s u m e d ” o r a s s e s s m e n t p a i d ” — t h e s e c u r it ie s t h e m s e lv e s h a v in g b e e n p r e v io u s l y
li s t e d — a r e n o t I n c lu d e d In t h is t a b le .
x E x c l u d e s $ 3 0 0 ,0 0 0 ,0 0 0 J a p a n e s e G o v e r n m e n t b o n d s .
V E x c l u d e s $ 6 0 ,0 0 0 ,0 0 0 J a p a n e s e G o v e r n m e n t , $ 3 5 ,0 0 0 ,0 0 0 R e p u b l i c o f C u b a a n d
$ 1 0 ,0 0 0 ,0 0 0 U n it e d S t a t e s o f M e x ic o b o n d s .
2. N A T U R E OF COMPANIES W H OSE SE CU RITIE S H AV E B E E N LIST E D .
STOCKS.
BONDS.
H a lf
Y ear.
1912 . . .
1 91 1 . . .
1 9 1 0 ...
1909 . . .
1908 . . .
1907 . . .
1906 . . .
1 90 5 . . .
1904 . . .
1 90 3 . . .
R a ilr o a d .
E l e c . 11)/.
1
M l s r e ll.
R a ilr o a d .
$
$
S
1 4 1 ,8 3 8 .3 0 c 1 4 7 ,2 2 9 ,5 0 0 1 0 9 ,5 9 ,3 5 0
1 7 2 .4 7 6 .6 0 0 2 2 .8 9 9 .0 0 0 1 2 8 .1 0 0 .5 0 0
2 3 5 ,1 5 0 ,3 0 0 3 5 .7 7 0 .0 0 0 2 4 3 ,8 8 9 ,8 0 0
1 2 ,0 4 0 .0 0 0 ! 1 6 4 ,1 4 7 .8 0 0
4 6 5 .1 2 3 .6 0 0
3 0 5 ,0 7 9 .7 0 0 2 8 .7 2 4 .0 0 0 2 3 4 ,1 8 8 .0 0 0
9 ,7 4 1 ,0 0 0 ! 9 6 ,6 9 5 .0 0 0
1 2 7 .3 8 8 .0 0 0
2 0 2 .8 6 0 .0 0 0 1 1 5 .6 2 4 ,0 0 0 'n 5 2 .8 9 1 .0 0 0
2 6 6 .1 8 5 .0 0 0
1 8 .2 1 4 .0 0 0 6 2 2 2 9 1 0 ,6 5 0
9 ,2 9 7 ,0 0 0 6 4 ,5 0 2 .0 0 0
1 6 0 .0 5 7 ,5 0 0
1 8 3 .2 5 5 .0 0 0 5 1 .7 9 2 .0 0 0 8 7 ,1 1 8 ,8 0 0
M is c e ll.
1 E le c . R u .
S
S
• M .o in erv 1103
15.°PC
1 3 L 7 3 0 .7 0 0 1 3 3 .7 2 6 .6 0 0
2 5 5 .1 5 7 .4 0 0
9 .7 6 3 ,5 0 0
4 1 5 ,1 8 8 .3 0 0
9 ,0 0 2 ,5 0 0
7 3 .1 7 0 .6 0 0
2 .4 1 7 ,6 0 0
1 0 2 .5 2 2 ,7 5 0
1 ,1 0 4 .1 0 0
1 4 0 ,5 3 1 .7 0 0 1 3 6 .7 3 8 .1 0 0
1 0 2 ,4 5 6 .8 0 0 5 5 ,9 7 2 ,2 0 0
3 8 .3 5 2 .8 0 0
...................
1 4 5 ,5 9 6 ,6 4 0
...................
$
4 6 3 .7 1 8 ,1 8 5
1 4 5 .3 3 7 ,1 6 0
8 2 0 .9 4 8 ,3 7 0
3 5 7 ,3 6 7 ,4 2 0
1 6 6 ,2 1 8 .8 0 0
3 7 5 ,6 7 4 ,0 0 0
1 5 2 ,8 5 1 ,7 0 0
1 9 9 ,6 3 5 ,8 0 0
3 ,1 7 4 . 5 0 0
1 4 5 ,3 6 0 ,7 9 5
a E x c l u d i n g $ 3 0 0 ,0 0 0 ,0 0 0 J a p a n e s e G o v e r n m e n t b o n d s .
b E x c l u d i n g $ 6 0 ,0 0 0 ,0 0 0 J a p a n e s e G o v e r n m e n t , $ 3 5 ,0 0 0 ,0 0 0 R e p u b l i c o f C u b a
a n d $ 1 0 ,0 0 0 ,0 0 0 U n it e d S t a t e s o f M e x ic o b o n d s .
T h e
lis tin g s
A venue
$35,122,000
42.378,300
7.979.000
03.953.000
72,362.000
1.650.000
20.000.000
Total.
SK»0 . 1
'
8398,607,150
118,291.600 323,476.100
125.064.000 514,810,100
287,505.537
641,311,400
30.770,000 567,991,700
56,934.086 233.824,000
217.710.000 z 3 7 1.375,000
279.515.650 p507.315.650
40.712.000 233.856,500
193,790,650 322,165,800
Stocks.
&
Im
Issues for New Old Issues
Replacing
Capital. <4e
Now Listed. Old Securities.
Bonds.
(Six Months.)
fo r
o f th e r e o r g a n i
th e T h ir d
and
W e
of
a d v a n ta g e
th e
of
s tr e e t r a ilw a y s u n d e r th e
R a ilw a y s a n d
of
h ig h e s t s t a n d in g .
and
stock
c o m p a n ie s .
p o r t a n t , t o o , l o c a ll y , is t h e c o m p le t i o n
t itle o f th e N o w
b illio n
T ob a cco
new
and
in
th e
s p e c ia l c a u s e s in
th e
one
one
o ld
in
m on th s
each
gran d
th e
1 ^
U n a n a ly z e d ,
th e
th e
and
to
is s u e d
(a s
rou n d
b illio n
s e r v in g
of
T ob a cco,
and
new
of
m illio n s
c o n v e r t ib le
C o.
C itie s
a lo n g
g iv e t o
p a s t b e lo n g e d
c a p ita l
fo r
1 0 9 m illio n s ;
la r g e r
m ore
of
c o m p a n ie s
th e
fo r
th e
im p re s s iv e ly
due
L o r illa r d
z a tio n
at
S tock
of
th e
or
reach es
cau ses
o n e -q u a r te r
w as
b e in g
fo r
n o t su r
th a n
a ls o
w it h
c o r r e s p o n d in g
d is m e m b e r m e n t
to ta l
la r g e r
and
th o se
p r e c e d in g .
s p e c ia l
to w a rd s
m illio n s
b y
fa ll m a t e r ia lly b e h in d
M o s t n o ta b le a m o n g s u ch
th e
270
ta b le
fo r r e -c a p it a liz a tio n
w i-th
n ext
t o t a ls
a n oth er,
m on th s
N ew Y ork
is 3 0 % ,
and
m e r e ly
c o n t r a s t in g
m ous
s ix
it is
r e p r e s e n t in g
1909
r e o r g a n iz a t io n ),
years
th e
case,
lis t in g
54
m illio n s
10 m illio n s
c o m p a n ie s t o
o r le s s w i d e l y
p o s s ib le t o
con
m illio n s .
lis t , in c lu d in g , w it h
tw o
th a n
b y
th e
th e
is s u e s
pu rposes
th e
1912.
a m o u n t o f s e c u r it ie s o f a ll k in d s a d d e d
s e c u r it ie s
la r s ,
on
com p ared
or 44
fir s t
seen
1 9 1 1 , s h o u ld
d e c lin e ,
th e
M ore
b e in g
la s t m e n t io n e d
gross
T ob a cco
be
of
n ote
30
b y
and
T h e u s u a l c o m p a r a t iv e s u m m a r ie s o f th e a m o u n t s o f
EXCHANGE
of
v a r io u s
som ew hat
fir s t h a l
2 0 % ,
m eans
fo r
T h is
w h ile
th e
years
STOCK
d u r in g
lis t in g s
bon d s
sam e
stock s
as
th e
r e q u ir e m e n ts ,
tw o
s c a le
a r t ic le .
th a t
ch an ge
bon d s
b y
p a p e r w a s s o ld
c o m p a n ie s ,
en d
YORK
17
E le c t r ic
p r o p o r t io n s .
o f la r g e h o ld in g
p e o p le .
H A L F -Y E A R E N D IN G J U N E
T em porary
n in e
NEW
4s
o f a d e v e lo p m e n t th a t h a s d u r in g th e h a lf-y e a r a ssu m e d
in
ON
5 s ; a ls o
A m e r ic a n
s e c u r itie s lis t e d
L IS T IN G S
r e fu n d in g
lis t in g o f th e
S ta n d a rd
to th is im p u ls e , it m a y b e n o t e d
d im in is h e d
d o m icile s .
to
fu tu r e
s p ite
has
it
a t a tim e w h e n
in
it
y ie ld in g
fin d
th e
c o n c e n t r a t io n
fa c t
th e
even
In
a c c o m p a n ie d
of
stock .
r e m a r k a b le
or
to
m pan y,
m illio n s
a d ju s t m e n t
stock
r e c e n t ly
C
32
c a p ita l
so
th e se
fe e l th a t m u c h
of
a d a p ta tio n
u rban
progress,
u rban
tio n
be
are
am ong
h a v in g
p r o fo u n d e r
tru e
com
th e ir
w e ll a s la r g e , t h e
to
th e
d u r in g
ou t to o m u ch
1920
w h ic h
bu t
R a ilr o a d
th e
m o d i
u rban
have
u n rest
c o n d it io n s
p r o g n o s tic a tio n s ,
n ow
of
w h o
of
its
e s p e c ia lly
in
w hen,
n a tio n s
b y
tow a rd
a ccen tu a ted
in
m an y
p o lit ic a l
te m p ta tio n
th a t,
be
to
a t t r ib u te d .
T h e
tra ry
so
and
u n d erstood ,
of
m u st
tr a d itio n s
oth er
s u p e r fic ia l
u s u a lly
th e
w o u ld ,
c o m m o n ly
n e c e s s it ie s
a d a p ta tio n
p e o p le
I t is im p o s s ib le n o t t o
and
years
of a
con cen tra ted
o r ig in ,
are
fro m
ren ew ed
th is
are
la n d
tom s
o f
B ut
a g r a r ia n
r e s id e n ts ,
a
cu stom s
n u m bers
of
u rban
b y
and
e n v ir o n m e n t.
w hen
143
THE CHRONICLE
July 20 1912 ]
th e
secon d
o f th e
fir s t t im e
b oth
of
c o m p a n ie s h a v e
of
stea m
T h e
is s u e d
in
bon d s
are:
ta b le s
d is c lo s e s t h e
h is to r y
and
of
th e
stock s
of
bon ds
fo r
and
w h ic h
fa c t th a t
E x ch a n ge
street
fo r th e h a lf-y e a r e x c e e d e d
r a ilr o a d
pu rposes
tw o
th e
th e
r a ilw a y
t h e lis tin g s
stock .
th e
bon d s
n ow
lis t e d
w ere
144
THE CHRONICLE
83
R A IL R O A D
[V O L . L X X X X V
BO NDS.
in p a r tia l o p e r a t io n , a n d , la s tly , 10 m illio n s 1 st a n d
Purpose of Issue
A t c h . T o p . & S a n ta F e — C al.
r e fu n d in g 5 s o f th e V ir g in ia R a ilw a y & P o w e r C o . o f
A r lz . L ines 1st & re f. 4 43s-------$ 1 4 ,2 8 8 ,0 0 0 _ .E x t c n s io n s & im p ro v e m e n ts
do
do
do
do
4 .2 5 6 .0 0 0 . . R e tire u n d e rly in g b o n d s.
R ic h m o n d , P e te r s b u r g , N o r fo lk , & c.
B o liv ia R y 1st 5 s _________ ______
3 .5 4 1 .0 0 0 . . C o n stru ctio n o f r o a d .
C h esapeake & O h io general 4 Vis
A lo n g w it h t h e 5 2 m illio n s o f T o b a c c o b o n d s a n d
3 7 4 ,0 0 0 . . D o u b le -t r a c k .
C h ic. B u rl. & Q u in cy g e n . 4 s .
1 .8 8 8 .0 0 0 . .E x c h a n g e o ld b o n d s.
t h e 1 0 m illio n s o f S t a n d a r d G a s & E l e c t r ic (h o ld in g C h lc. & E . 111. gen . c o n . & 1st 5s
2 8 ,0 0 0 ..E x c h a n g e o ld b o n d s.
do
do
do
do
1 .3 2 2 .0 0 0 . -Im p r o v e m e n t s & e q u ip m e n t. c o m p a n y ) c o n v e r t i b l e 6 s , w e n o t e a m o n g t h e
109>£
C h ic . G rt. W es tern 1st 5 0 -y r. 4 s .
2 .0 0 0 .
0 0 0 . . Im p r o v e m e n ts .
C h ic. M ilw . & P u g . S d . 1st g u . 4s
1 .0 9 5 .0 0 0 . -C o n s t ’n , e q u ip . & term in als. m i l l i o n s o f i n d u s t r i a l b o n d s o n l y t w o b l o c k s e x c e e d i n g
C h ic. & N orth W . — M iiw .S p a rta
& N . W . 1st gu ar. 4 s . . .
_ 1 5 ,0 0 0 ,0 0 0 ..C o n stru ctio n o f r o a d .
8 6 ,0 0 0 ,0 0 0 e a c h , a n d t h e s e a re
m illio n s o f I llin o is
C h ic . R . I . & P a clllc Iill. 4 s____
1 4 ,0 0 0 - .E x c h . C. It. & P . By. s t o c k .
C h ic . , R . I. & P a c . R y
r e f.-------4 s ._
3 , 5 0 0 , 0 0 0 . . A d d itio n s & Im p rovem en ts.
S te e l C o . (U . S . S te e l) d e b e n tu r e 5 s a n d 8 3 4 m illio n s
. .------do
do
2 0-year d e b . 5s 2 0 ,0 0 0 ,0 0 0 .. A d d ’ n s .b e tt’ ts ,te r m .im p .,& c.
o f t h e O n t a r io P o w e r C o . o f N ia g a r a F a lls .
S t . P aul & K ansas C ity S h o rt
L in e R R . gu ar. 1st 4 s _____ 1 0 ,5 0 0 ,0 0 0 ..C o n s tr u c tio n & im p ro v e m ’ ts.
C h ic. S t. P . M in n. & O m . d e b . 5s 5 .0 0 0 .
0 0 0 . .A d d it io n s , iin p ro v e ’ ts, & c. T h e p u r p o s e s f o r w h i c h t h e v a r i o u s b l o c k s o f s t o c k
do
do
d o c o n s o l. 6s 3 .1 0 0 .0 0 0 . . A c q u ir e p r o p ’ s o ld c o s .
w e r e is s u e d w ill a p p e a r fr o m t h e fo llo w in g :
Ch .T .II .& S .E .ls t & r e f .5 0 -yr .5 s .
8 5 0 .0 0 0 .
.P u r c h a s e e q u ip m e n t.
do
do
do
clo
5 8 ,0 0 0 ..R e t ir e o ld b o n d s.
R A IL R O A D ST O C K S.
Ch. & W est In d . c o n s . 5 0 -y r . 4 s .
9 6 7 .0 0 0 .
.A d d it io n s & im p ro v e m e n ts .
Company and Class of Stock.
Amount.
Purpose of Issue.
do
do
do
do
3 9 8 .0 0 0 .
.R e t ir e general m tg e . b o n d s.
A t c h . T o p . & S an ta F e , s t o c k . .
$ 8 0 4 ,0 0 0 ..E x c h a n g e c o n v e r tib le b o n d s.
Clev.C .C .& S t.L . 2 0 -y r . d e b . 4 Vis 5 .0 0 0 .
0 0 0 . . R e tire 4 -y c a r 5 % n o te s.
A
tla
n
tic
Coast
Line
R
R
.,
c
o
m
.
.
6
7
1
.5
0
0
..
E
x ch a n g e c o n v e r tllb e b on d s.
F la. & E ast Coast 1st 5 0 -y r. 4 V^s 1 .0 0 0 .
0 0 0 . -E x te n s io n s & im p ro v e m e n ts .
1 .2 5 0 .0 0 0 . .B o n u s w ith sale o f b on d s.
H ou ston B elt & T e rm . 1st 5 s . . _
4 3 0 .0 0 0 .
-A c q u is it io n s & im p ro v e m ’ ts. M in n eapolis & S t. L o u is, p r e f___
do
do
clo
clo
6 6 7 .5 0 0 .. E x c h . Io w a C e n t. p r e f. stk .
K . C. F t . S . & M em . g u . r e f. 4 s .
2 6 6 .0 0 0 . . C ost B ellevu e term inals.
do
do
c o m m o n s to c k 9 . 3 7 0 . 2 0 0 . . E x c h .I a .C c n t .p f.& c o m .s t k .
M ich . C en t.— D e t .T c r m . & T u n
N a t. R y s . o f M e x ico 2d p r e f____
3 0 , 4 0 0 . . I m p r o v e m e n ts .
nel 5 0 -y r. g u a r. 4 Vis__________ 1 4 ,0 0 0 ,0 0 0 . .C o n s tr u c tio n & acq u isitio n s.
N ew O rleans M o b . & C h ic., p r o f.
1 .2 5 9 .5 0 0 ..
E x c h . old s ccu rs. u n d er plan M in n . S . P . & S . S . M .— 1st M .
N . Y . N ew IL iv . & I la r t f ., s to c k
6 1 2 .7 0 0 .. E x ch a n g e co n v e r tib le b o n d s.
C h ic. T e r m . 3 0 -y r . 4 s __________ 6 ,0 0 0 ,0 0 0 ..A c q u is it io n s & im p ro v e m ’ ts.
N
o
rfo
lk
&
W
e
ste
rn
R
y
.,
c
o
m
___
5 .2 3 9 .0 0 0 .
. E x ch a n g e co n v e r tib le b o n d s.
N a t. R y s . o f M ex . p r. lien 4 Vis.
2,192,6001
P itts . C. C. & S t. L ou is, c o m ___
1 .4 9 8 .0 0 0 . . A c q . C ln . L e b . & N o r. s t o c k .
do
do
7 0 -y r . s. f. 4s
1 ,1 6 8 ,7 0 0 /.I m p r o v e m e n t s .
R o c k Isla n d C o ., c o m m o n .............
14,0001 .E x c h a n g e C. R . I . & 1’ . B y .
N . O . M ob . & C h. 1st & re f. 5 s . . 1 0 ,0 3 0 ,0 0 0 . _ R e tir e o ld b d s .,& c.,u n d e r plan
do
do
p r e f e r r e d ______
9 ,8 0 0 /
s to c k .
N o rfo lk S o u . 1st & r e f. 5 0 -y r . 5s 4 ,3 6 0 ,0 0 0 ..R e t ir e c o lla t. trust n o te s,
S
t.
L
.
&
S
.
F
.,
C.
&.
E
.
p
r
e
f.
stk
.
do
do
do
do
1 ,4 7 7 ,0 0 0 ..E x t e n s io n s & im p ro v e m ’ ts.
trust ce r tific a te s _______________
1 . 9 5 8 .2 0 0 ..
E x c h . C.& E.I11. p re f. s to c k .
4 ,6 1 3 ,0 0 0 ..D o u b le -t r a c k .
N orth ern P a cific p rior lien 4 s ___
S e a b o a rd A ir L in e R y ., c o m ____ 37,019,1001 .O ld s to c k Just listed .
S t .L .& S .F .g e n .lie n 1 5 -2 0 -y r. 5s 3 ,1 2 2 ,0 0 0 .. P a y e q u ip , n otes & im p r o v ’s.
do
clo
do
p r e f ____ 2 3 ,8 9 4 ,1 0 0 /
W estern M a ryla n d I ly ., c o m ___
9 .9 2 1 .3 0 0 .. C on stru ct line C u m b erlan d
T o t a l ...............................................$14 1 ,8 3 8 ,3 0 0
to C on n ellsville.
E L E C T R IC R A IL W A Y BO N D S.
T o t a l ............ ........................... $ 94 ,219 ,60 0
Company and Class of Bonds.
Amount.
Purpose of Issue.
C h .C ity & C o n m R y s .c o ll.tr .s .f.5 s .$ 2 2 ,0 0 0 ,0 0 0 . - A c q . sccu rs. c o n tr o lle d c o s .
E L E C T R IC R A I L W A Y ST O C K S .
D e t. U n ited R y . 1st c o n s . 4 / i s .
2 ,0 9 3 ,0 0 0 . .R e t ir e n o te s an d b o n d s.
Company and Class of Stock.
do
do
do
do
6 0 ,0 0 0 . .Im p r o v e m e n t s .
Purpose of Issue.
A m e rica n Cities C o ., c o m m o n ___
F t . S m ith L t . & T r . C o . 1st 5 s . .
2 ,6 4 5 ,0 0 0 . .R e tir e b d s .,n o te s & w ork .ca p .
.A c q u ir e s to ck s c o n tro lle d cos
do
do
preferred . .
N ew Y o r k R y s . r. e . & r e f. 4 s___ 1 1 ,7 6 8 ,1 0 0 - .E x . o ld s e c .,& c ., u n d e r plan.
N ew Y o r k S ta te R y s ., c o m m o n .
do
do
do
do
5 ,0 0 0 ,0 0 0 . .C ash req u irem en ts o f plan.
- E x c h . stk s. c o s . c o n s o lld ’ d .
do
do
do
do
do
a d ju s tm e n t in c .5 s
2 8 ,9 3 3 ,4 0 0 . . E x c h . o l d s ccu rs. u n d er plan
.A c q u ir e su b sid ia ry s tock s .
H a v a n a E l. R y . & L t . C o ., p r e f .
do
do
do
do
3 ,0 0 0 ,0 0 0 . .Cash req u irem en ts o f plan .
. E x c h . s to ck s E le c . R y . &
N . Y . W estch ester & B o sto n R y .
do
do
do
com .
Gas & E le c , c o m p a n ies.
1st 4 Vis, scries 1_______________ 1 7 ,2 0 0 ,0 0 0 . .C o n s tr u c tio n o f r o a d .
do
do
do
p r e f.
.E x te n s io n s , Im p r o v ’ ts, & c.
P a c .P . & L t . ls t& r e f. 2 0 -y r . 5 s .
do
do
do
com .
3 .9 6 5 .0 0 0 . .I
. m p r o v ’ ts, a d d itio n s , &e.
• do
do do
do
T h ird A v e R y ., N ew Y o r k _____
1 .3 3 0 .0 0 0 . .R e fu n d u n d e rly in g b o n d s.
. E x c h . old b o n d s u n d er p la n .
S t. J o s . R y ., L ., II. & P . 1st 5 s .
do
do
do
_______
5 5 5 ,0 0 0 .. .Im p r o v e m e n ts .
.C a sh assessm ent und er pla n .
T h ird A v o .R R .,N .Y .,r c f.5 0 -y r .4 s
9 .3 9 0 .0 0 0 . .O ld b o n d h o ld e rs u n d er plan .
do
do
do
do
6 .4 0 0 .0 0 0 . .O
. ld s to ck h o ld e rs o n p a y m e n t
T o t a l ............. ....................... $10 3 ,4 0 5 ,9 0 0
o f $45 per share.
M IS C E L L A N E O U S S T O C K S .
do
d o a d ju s t. Inc. 5 s . . 2 2 ,5 3 6 ,0 0 0 .. .O ld b o n d h o ld e rs under p la n .
T r i-C ity R y .& L t.c o ll.tr . 1st Hen 5s
351,000 .R e tir e o ld b o n d s.
Company and Class of Stock.
Amount.
Purpose of Issue.
V irgin ia n R y . & P o w . ls t& r e f. 5s 7 ,5 4 2 ,0 0 0 ...P a y p r o p ’ s o ld c o s .u n d e r p la n
A m c r . A g r ic . C h em ical, p r e f ____ $6,0 0 0 ,0 0 0 ..S u b s c r ib e d a t par.
do
do
do
do
2 ,4 6 1 ,0 0 0 .. E x ch a n g e u n d e rly in g b o n d s.
do
do
do
do
119,000 . .A c q . P a lm e tto P h o sp h . s t k .
do
do
do
do
884,100 .E x c h a n g e c o n v e r tib le b o n d s .
T o t a l ............... .....................5 14 7,22 9,5 00
A m c r . C oal P ro d u cts C o ., c o m . . 10,539,300 .O ld s to ck ju s t listed .
do
do
do
p r e f ..
2 ,5 0 0 ,0 0 0 .R e t ir e n otes & w o rk , c a p ita l.
M IS C E L L A N E O U S B O N D S .
A m e rica n M alt C o r p ., c o m _____
81,5001 .E x c h a n g e s to c k o ld c o m p a n y
Company and Class of Bonds.
Amount.
Purpose of Issue.
do
do
d o p r e f..........
26.300J
C h ic. T e le p . C o. 1st 15-year 5 s. _ $ 5 ,0 0 0 ,0 0 0 .-C o n s tr u c tio n & a cq u isitio n s.
A m e r . S n u lf C o ., new p r e fe rr e d .
3 .5 5 2 .9 0 0 . .E x c h .o ld s t k .u n d .d is ln .p la n .
C on s. C oal C o. ls t& r e f. 4 0 -y r . 5s
9 6 0 .0 0 0 . .A c q u is it io n s & Im p ro v e m ’ ts. A m e r . T e le p . & T e le g . C o ., s to c k 9 .7 1 9 .9___
0 0 . .S u b s c .a t p a r & c x c h .c o n v .b d s .
C u b a n -A m er. Sugar c o ll. tr. 6s . .
6 4 4 .0 0 0 . . A c q u ir e s u b sid . b o n d s, & c. A m c r . T o b a c c o C o ., new p r e f . . . 51,0 5 4 ,6 0 0 .O ld 8tk .rcd tto.p er d is in .p la n .
K in gs C o .E i.L t .& P .c o n v .d e b .6s .
1 4 5 .0 0 0 . . 5 .b s c r i b e d a t par.
do
do
com m on
40,2 4 2 ,4 0 0 .O ld s to ck ju s t listed.
L a cle d e Gas L t . C o. r e f.& c x t . 5s
8 1 8 .0 0 0 .
.A dLdoit
B a ld w in
c oiomnost iv&e im
W kpsro
., vceom
me.n ts
2 0. ,000 ,000 ..A c q u ir e assets o ld c o m p a n y .
L ig g e tt & M yers T o b a c c o C o . 7s 15,507,8001 .A c q u ir e p r o p ’s u nd er A m c r .
Cen tral L ea th er C o ., c o m m o n ___
6,0001 .E x c h a n g e s to c k o ld c o .
do
do
do
5 s . . 1 5 ,0 5 9 ,6 0 0 /
T o b a c c o d isin te gr. pla n .
Ho
do
p referred . .
13.700J
' (P .) L orillard C o. 7s____________ 10,933,5001 .A c q u ir e p r o p ’ s u n d er A m e r.
C h in o C op p er C o ., s t o c k ________
350 ,0 0 0 . .S u b s c r ib e d at $25 per sh are.
do
do
5 s ....................
1 0 ,6 1 7 ,4 5 0 /
T o b a c c o d isin te g r. p la n .
C orn P ro d u cts R ctln . C o ., c o m . .
6,5001 .E x c h a n g e o ld c o m p a n y stk s.
M e x . P etroleu m C o ., L t d . (D e l.)
do
do
do
p r e f..
8.300J
c o n v . 1st lien & ref. 6s _______
1 ,3 0 0 ,0 0 0 ..A c q u ir e se cu r. co n tr o lle d cos.
D e tro it E d iso n C o ., s t o c k ____
1 ,500,000. .S u b s c r ib e d at par.
N a t. S tarch C o. 2 0 -y ea r d e b . 5 s .
5 ,1 3 6 ,0 0 0 ..E x c h a n g e d eben tu re 6s.
do
do
do
_________
740,100 .E x c h a n g e c o n v e r tib le b o n d s.
O n ta rio P ow er C o. o f N iagara
D istillers’ S ecurities C o rp ., s to ck
17,300. .E x c h a n g e old secu rities.
Falls 1st s. f. 4 0 -y ea r 5 s _______
8 .2 7 2 .0 0 0 . .C o n s tr u e ., a cq u is itio n s , & c.
G eneral C hem ical C o ., c o m _____
4 0 7 ,6 0 0 . . 5 % s to ck d iv id e n d .
P a c. T . & T . 1st & c o ll. 3 0 -y r . 5s
1 .5 5 5 .0 0 0 . .E x t e n s io n s & im p ro v e m e n ts. G eneral E le ctric C o. s to ck
3
0
6 ,5 0 0 . .E x c h a n g e co n v e r tib le b o n d s.
R a y. Cons .C op
. . C o. 1st c o n v . 6s _ 3 , 0 0 0 , 0 0 0 . . Im p r o v e m e n ts .
G e n .M o to rs C o .,co m .s tk .v .tr.ccrts
687,7001 .E x c h a n g e fo r s t o c k .
S ta n d a rd G. & E l. c o n v . s. f. 6s . 1 0 ,3 0 0 ,0 0 0 ..A c q u ir e s to ck s an d b o n d s.
do
p re f. stk . v . tr. certs
71 8 ,5 0 0 ]
U nion B a g & P a per 1st 2 5 -y r . 5s
7 9 8 ,0 0 0 .. A c q u is itio n s & im p ro v e m ’ ts.
G uggen h eim E x p lo r . C o ., s t o c k . 2 0 ,7 9 3 ,3 0 0 . .O ld sto ck ju s t listed .
U n ion E l. L . & P . ref. & e x t . 5 s .
8 7 9 ,0 0 0 ..8 5 % c o s t e x te n . & Im p’ ts.
(G e o . W .) H elm e C o ., p r e f _____
4/0 0 0 /0 0 0 .A c q u ir e p r o p ’s u n d er A m er.
U .S .S teel C orp...111 .S teel d e b . 5s 1 2 , 6 9 2 ,0 0 0 ..I m p r o v e m e n ts & a c q u is ’ ns.
do
do
d o c o m ____________________ 4 ,0 0S0n,0u0lf0 d
/ isin tegration plan.
do
do
do
do
2 ,9 2 2 ,0 0 0 . .R e t ir e d e b . 5s d u e J a n . 1911.
In s p ira tio n C on s. C o p . C o ., s to c k
7 5 0 ,1 8 0 . .Is s u e d for p r o p e r ty a t p a r .
V a .-C a r . C h em . C o . 1st 1 5 -y r. 5s 3 ,0 0 0 ,0 0 0 . .W o r k in g ca p ita l, & c.
do
do
do
do
1 3 ,7 0 7 ,4 0 0 . . C o n v . bds. .sh s .a cq ., p r o p .,& c .
In t .A g ric .C o r p . ,n f .stk .v .tr .certs 7,520,0001 .E x c h a n g e fo r s to c k .
T o t a l ............ ............................$ 10 9,53 9,3 50
do
do
c o m m o n s t k . 1 2 ,9 3 8 ,5 0 0 /
L ig g e tt & M yers C o ., p r e f_______ 15,383,8001 .A c q u ir e p r o p ’ s u nd er A m e r.
do
do
com .
. . 2 1 ,4 9 6 ,4 0 0 /
T o b a c c o d ls ln tcg r’ n plan.
T w e n ty -fiv e
c o m p a n ie s
c o n t r ib u te d
to
th e
142
(P .) L orillard C o ., p r e f _________ 11,307,6001 .A c q u ir e p r o p ’s u n d er A m e r.
do
do
c o m ___
1 5 ,1 5 5 ,6 0 0 /
T o b a c c o d is in tcg r’ n plan.
m illio n s o f r a ilr o a d b o n d s lis t e d d u r in g t h e la t e h a lf
M e x ica n P etroleu m C o ., p r e f . . . 1 2 ,0 0 0 ,0 0 0 / O ld s to c k ju s t listed.
do
do
do
c o m . . 3 1 ,9 8 6 ,2 0 0 /
y e a r , b u t 913^2 m i l l i o n s , o r n e a r l y t w o - t h i r d s o f s a i d
M iam i C op per C o ., s t o c k ________
3 3 8 ,1 9 5 . .E x c h a n g e c o n v e r tib le b on d s.
N ation a l Su rety C o ., s t o c k _____
5 0 0 ,0 0 0 . .S u b s c r ib e d a t par.
a m o u n t , w a s s u p p lie d
b y
fiv e s y s t e m s .
T h e s e fiv e
______
2 ,0 0 0 ,0 0 0 . .A c q u is itio n s & im p ro v e m ’ ts.
P a b st B rew in g C o ., pref
P ittsbu rgh Coal C o ., c o m m o n . . .
Ot ,9 0 0 . . E x c h . M on . Coal C o .,c o m .
w e r e (1 ) th e C h ic a g o R o c k I s la n d & P a c ific , w it h 2 0
P ittsbu rgh Steel C o ., p r e f_______
3 ,5 0 0 ,0 0 0 ...M o s t ly su b scrib e d a t p ar.
R a y C on sol. C op per C o ., s t o c k . .
2 ,4 5 6 ,4 5 0 /'. E x c h . R a y C entral C op p er
m illio n s o f d e b e n t u r e 5 s , 3 j/£ m illio n s o f r e fu n d i n g 4 s
M ining b o n d s and s t o c k .
do
do
do
do
8,250 . .S o ld fo r ca sh .
a n d 103^> m i l l i o n s 1 s t g u a r . 4 s , t h e l a s t l o t c o v e r i n g
R u m e ly (M .) C o ., p r e f.......... ..
250,000 .O ld s to c k Just listed.
do
do
____________
0 ,7 5 0 ,0 0 0 . A c q ’ n s, Im p’ ts, retire $ 1 ,
t h e n e w S t . P a u l & K a n s a s C it y S h o r t L in e ; (2 ) A t c h i
000 ,000 6 %
d e b s, and
$ 1 ,2 6 4 ,8 0 0 o ld p ref.
S tu d e b a k e r C o r p ., p r e f_________ 13,095,000 .S o ld for w ork in g c a p ita l.
son
1 8 Y i m illio n s “ fir s t a n d r e fu n d in g ” 4 V £ s , in c lu d in g
do
do
c o m m o n ___ 2 7 ,931,600 . .A c q u ir e p r o p , o f c o n s tit. cos .
U n ited Cigar M frs. C o ., c o m ____
604 ,000 . .A c q u ir e T h e o b a ld & O p p en 4 J /J m i l l i o n s t o r e t i r e u n d e r l y i n g b o n d s ; ( 3 ) C h i c a g o &
lielm cr C o. c o m m o n .
do
do
do
9 ,6 4 3 ,5 0 0 .O ld s to ck Just listed.
do
N orth
W estern
R y .
15 m illio n s
1st g u a ra n te e d
4s
U ta h C op p er C o ., s t o c k .
5 7 ,810. . E x c h . B ln gh . & G arf. R y .
c o n v . b on d s and s to c k .
o f t h e n e w M ilw a u k e e S p a r t a & N o r t h W e s t e r n ; (4 )
W e y m a n -B r u to n Co„ p r e f_____
4 .0 0 0 .
0001
.A
c q u ir e p r o p 's u n d er A m e r .
d
o
d
o
d
o
co
m
m
o
n
.
4
.0
0
0
.
00
0
/nu ff disin tegration p la n .
S
M ic h ig a n
C e n tra l
(N .
Y .
C e n tr a l)
14
m illio n s
of
W o o l w orth (F . W .) C o ., p r e f . . . 1 5 .0 0 0 .
0001
-A c q u ir e businesses 0 c o n
do
do
do
com
5 0 .0 0 0 .
000 /cern s.
D e tr o it
T e r m in a l
&
T unnel
C o.
g u a ra n te e d
4 ^ s
Company and Class of Bonds.
Amount.
o f fe r e d t o t h e p u b li c in J u n e 1 9 1 1
and
(5 ) N e w
M o b ile & C h ic a g o , th e r e o r g a n iz e d N e w
&
K a n s a s C ity ,
T h ere
s p e c ia l
and
are
1 0 m illio n s
th re e
in te r e s t,
T h ir d
are th e
lis t in g s
a s id e
A ven u e
C ity
&
C o n n e c tin g
of
th e
fro m
o f e le ctr ic
fro m
is s u e s ,
r e f. 5 s .
th e
r a ilw a y
N ew
a lr e a d y
Y ork
bonds
of
R a ilw a y s
m e n t io n e d .
T h ese
2 2 m illio n s o f c o lla t e r a l t r u s t 5 s o f t h e C h ic a g o
4J^s
w h ic h
1st a n d
is
N ew
th e
N ew
new
Y ork
th e N ew Y o r k
R a ilw a y s ,
Y ork
h ig h -s p e e d
C ity
th e
W e stch e ste r
in to
17
&
e le c tr ic
'W e s t c h e s t e r
m illio n s
B oston
lin e
1st
R y .,
e x te n d in g
C ou n ty
th a t
N e w H a v e n & H a r tfo r d R R . h a s a lr e a d y
T o t a l ..................................... $ 4 6 3 ,7 1 8 ,1 8 5
O r le a n s
O r le a n s M o b ile
P A R T -P A I D
A N D T E M P O R A R Y C E R T I F I C A T E S , F I R S T T IM E
Q U O T E D , BU T N OT R E G U L A R L Y L IS T E D .
C h icago M ilw aukee & S t. Paul R y . su b scr. rc cts . fo r fu ll-paid c o n v . 4 J3s.
C ity o f T o k y o in terim ce rts, fo r 5 % loan o f 1912 ’ ’ an d in t .” fro m M elt. 1.
Im perial Chinese G o v t, fu ll-p a id rc cts . fo r 5 % llu k u u n g R y s . loan o f 1911
an d in terest.
In d ia n a Steel C o . 1st 5s, .1. P . M organ & C o . tru st receipts.
In sp iration C on s. C o p p e r C o . s u b scr. r c cts . fo r 1st M . 10-yr. 6s, first In
s ta llm e n t (2 5 % ) paid flat.
N ation a l T u b e C o. trust rc cts . fo r 1st 5s “ an d in t .’ ’ fro m M ay 1.
N ew Y o r k C ity, 4 H % c o r p . s to c k , due M ch . 1 1962. C o m p tr o lle r ’s tem
p o r a r y certifica te s.
N o rfo lk & W estern R y . su b scr. r c cts . c o n v . 10-ycar 4s (first Installm ent,
5 0 % an d fu ll p a id ).
If
w e
R a ilw a y ,
except
th e
stock s
a g g r e g a tin g
a g o is s u e d , t h o u g h
61
of
th e
m illio n s ,
S eaboard
w h ic h
A ir
L in e
w ere
lo n g
u n til r e c e n t ly c h ie fly h o ld b y th e S e a -
THE CHRONICLE
J uly 20 1912]
board
C o . (n o w
w o u n d u p ), th e re a re o n ly tw o
r a ilr o a d
F O R E IG N
c o m p a n ie s t h a t h a v e is s u e d a n d lis t e d s t o c k t o a n y c o n
s id e r a b le
to ta l.
T h e m erg er o f th e
m illio n s
of
th e
a n ! th e c o m p le t io n
new
pe
8 7 -m ile
m it t in g
lin e
of
th e
N ew
com m on )
been
to
w it h
C o n n e lls v ille ,
th e
N ew
Y ork
t h e o c c a s io n f o r t h e is s u e
m illio n s
c o m p a n ie s
of
a lr e a d y
of
o n ly
W estern
fig u r e
e le c tr ic
in
th e
r a ilw a y
to
th e
lis tin g
stock ,
fir s t i m p o r t a n c e
r e fe r r e d
and
M a r y la n d
in
16%
a ll,
u n d er d a te
fu lly
in
708.
P ow er C o.
c o n n e c t io n
m illio n s
A v e n u e R a ilw a y o f
th e r e w ith
th a t
th e
stock ,
1 6 )4
com p an y
c o n t r o ls
pow er
is
b y
of
R ock ,
ju s t
r a ilw a y
N ew
June
of
lis t e d )
is
p.
t r o lle y
bon ds
&
e le c tr ic
and
h o ld in g
In
lig h t
O rle a n s , B ir m in g h a m ,
and
M em
t h e e le c t r ic b u s in e s s
to
m e n tio n e d
th e
at
T ob a cco
th e
and
b e g in n in g
m illio n s
p r e fe rr e d ),
th e
6
A m e r ic a n
T h e new
th e
la te
is s u e s ,
P rod u cts
year
C o.
in d u s tr ia l
a r tic le ,
h a lf-y e a r
in c lu d e ,
w it h
218
a
tota l
m illio n s
w ith
of
P e tr o le u m
of
sh ares
a n d t h e 13 m illio n s
fo r
oth ers,
th e
th e
s ix
Republic R y . A Light C o...........
Rochester Hyrac. A Eastern 11R
United Gas A El. Corp.(oiConn.)
United Properties A Realty Co.
Dale.
1 1912
1 1912
1 1012
July 1 1912
May 1 1912
1 1911
5%
Feb. 1 1912
r>% April 1 1912
5%
June 1 1912
None Jan. 1 1912
m % July 1 1912
r>% June 1 1912
Jan. 1 1912
0%
r>% Aug. 1 1911
Mch. 15 1912
5%
Mch. 15 1912
*%
May 1 1911
•>%
1 1911
lan.
■>%
Anrll 1 1912
l'L % May 1 1912
Tun. 15 1912
May 1 1912
>%
Feb. 1 1912
•%
>% ■April 1 1912
1912
1%
>% April 1 1912
Jet. 1 1911
’>%
April
May
Gas Traction C o..................... - - Harlan A Hollingsworth C orp..
International Harvester Co ----K eystone Telephone Co., Phfla.
Ma:«illon Iron A Steel Co. ----Missouri Valley Lt. A Power Co.
Northern Colorado Power Co —
Northern States Power C o.........
Orange A Rockland Electric Co.
Pope Manufacturing C o________
Porto Rlcan-Am cr. T obacco Co.
S m Luis Power A Wnter Co.,
Colorado Springs.....................
Suhbergcr A Sons C o_______ .
Troy (N . Y .) Gas C o....................
United Light A Power C o--------United States Gypsum C o--------U. H. Lithograph Co., Cincinnati
Utah Com pany..............................
m on th s
of
Maturity.
May ’ 12-Oct 'l l
May 1 1917
10 101.3
►jhily 1 1918
May
1 1917
1 1014
‘ Feb. 1 1917
April
1 1915
June 1 *13-17
Jan. 1 1913
►July 1 1914
‘ June 1 1919
Jan. 1 1913
►Allg. 1 1914
Mch. 15 1913
Mch. 15 1913
‘ May 1 1913
1 1914
Jan.
•‘April 1 1915
May 1 1915
Jan. 15 1913
May 1 1914
►Feb. 1 1914
►Jan. 1 1910
* __
. 1915
April 1 1915
►Oct. 1 1910
T ot. itits ., St. Rys. A Industrie’
[500,000
150,000
->%
0%
9%
9%
9%
9%
9%
9%
Nov. 1 1910
Mch. 1 1912
fan. 1 1912
Dec. l 1911
April 15 1912
1912
April 1 1912
Nov. 1 1915
►June 1 1910
July 1 1913
►Dee. 1 1914
April 15 1917
1915
►April 1 1917
100,000
5 ,000,000
521,702
2,150,000
1,500,000
1,200.000
10,000,000
“>%
i%
1%
>%
1912 May 15 *13-17
1
io n
1912 ►April 1 1914
1912 Juno 1014-18
1912 F e b . 15 1915
May
May
May
lime
sta tem en t
th is
been
a ctu a l
d is c e r n ib le .
In
a ll
app aren t
som e
a v a ila b le j
tw e lv e
fo u r
o u r .
T hat
fo r
are
th e
of
w eek.
fig u r e s
b u t
of
th e
c o r r e s p o n d in g
year.
O n
th e
o th e r h a n d , th e
net
1 9 0 7 -0 8 ,
o n ly
tw o
m on th s |
m on th s
of
th e j
in
th e
A u gust
th a n
of
in
th e
in
and
ou r
any
p r e v io u s !
fa v o r
h ere,
(1 9 0 0 -0 1
g rea ter
on
year
th e
s in c e
th ere
o f im p o r ts .
o c c a s io n s
th e
D ecem b er.
fis c a l
d e p r e s s io n
v o lu m e
b a la n c e s
of
im p o r t s fe ll b e h in d
la r g e r b a la n c e
oth er
th e
p e r io d
o n ly
becau se
d e c lin e
w ere
a
in
m ovem en t
w hen,
a sh arp
on
to t a ls
r e s u lt is
m e r c h a n d is e
w as
M oreover, \
and
th a n
1 8 9 7 -9 8 )
th a t
n ow
•
J
record ed .
I t is p a r t i c u la r l y p le a s in g t o n o t e t h e v e r y i m p o r t a n t j
e x p a n s io n
tu r e s in
d u cts
in
th e
recen t
m ade
fo re ig n
v o lu m e
years.
up
th e
c o u n tr ie s ;
c r e a s in g
of
ou r
N ot
lo n g
g rea ter
part
n ow ,
s m a ll fig u r e ,
hom e
W ith
th e
ex p orts
ago
of
m a n u fa c - j
d o lla r
m illio n s
over
our
of
n e c e s s a r ily
fo r
fo o d s tu ffs .
and
s h ip m e n ts
co tto n ,
and
dem and
m ark ,
a g r ic u lt u r a l p r o
of
o u ts id e
m e r c h a n d is e e x p o r t
m illio n
1 9 1 0 -1 1
on
m illio n s
in
th a t yea r,
as
n a tu ra l
to
in q u ir e
to
so
th ey
w it h
tota l a b o v e
e x h ib it in g
to
cu t
th e
th e
a g a in
a
in
2 ,2 0 .0
o f
as
top
of
an
in c r e a s e
c o m p a r e d -w ith
th e
ex ten t
have
n ot
155
1 9 0 9 -1 0 ,
to
w h ic h
r
creased
g rea ter
tru e
of
In
A p p a r e n t ly
'»
m on th s
a ll.
i t is
h ig h e r
con tra ry
e s p e c ia lly
at
2 7 0 )4
t o h a v e b e e n th e ca s e , q u a n tity h a v in g in -
in
fig u r e d
of
w o u ld s e e m
in
p r o p o r t io n
co tto n ,
th e
reach ed
850,443,702
8273,420,336
....................
excess
n e a r ly
19
pou n d
(1 4 )4
th e
of
m illio n
an
fa c t
th a n
th e
v a lu e .
o u t flo w
of
T h is
w h ic h
a g g reg a te
1 9 1 0 -4 1 ,
d o lla r s
cen ts)
1 9 1 1 -1 2
in
1 ,5 0 0
is ,
th e
!
m illio n
w o u ld
d o lla r s
g rea ter
of
m illio n s
over
117
p r o v is io n s ,
a ls o ,
bu t
le s s .
rep resen ted
A t
th e
sam e
a
v a lu e
p r ice
•.
p er /
as th a t b r o u g h t th e p r e v io u s y e a r ,
o u t flo w
m illio n
as
h ave
and
covered
h ave
1 9 1 0 -1 1 .
w e ll
as
a
a
y ie ld e d
F or
fe w
som e
oth er
v a lu e
an
136
in c r e a s e
a r tic le s
•
>
o f
;
c o m m o d it ie s ,
-
lo w e r p r ic e s p r e v a ile d in t h e la t e s t fis c a l y e a r .
In
th e
i
case
e le v e n
•:
(d e t a ils f o r t h e fu ll t w e lv e m o n t h s
;
of
th e
im p o rts ,
m o n th s ’ a g g reg a tes
too,
e x a m in a tio n
of
th e
a re n o t y e t a v a ila b le ) r e v e a ls lo w e r p r ic e s fo r a n u m b e r
f
of
C on se-
/
q u e n t ly , it is q u it e s a fe t o a s s u m e t h a t t h e e x p a n s io n in
'
im p o r t a n t
a r tic le s ,
n o ta b ly
In d ia
ru bber.
o u r f o r e i g n t r a d e a s a w h o le is r e p r e s e n t e d b y in c r e a s e d
T h e
ra th er th a n
tota l
(im p o r ts
fo re ig n
and
record ,
advan ced
tra d e
ex p orts
d o lla r s , e x c e e d in g
1 9 1 0 -1 1
of cou rse.
o u ts id e w o r ld
th a t
in te rv a l
lo n g
p r ice s .
th e
W ith in
b y
a
281
1 9 1 1 -1 2
3 ,8 5 7 %
m illio n
m illio n s , s e ts
p e r io d
o f th irte e n
a new
j
)
years,
*
in te rv a l
1 ,2 2 7
m illio n s
6 9 7 m illio n s t o
h ig h
p r ic e s
c o m p ila t io n
to
2 ,2 0 4
h ave,
th e
m illio n s
1 ,6 5 3 m illio n s .
of
cou rse,
s w e llin g t h e t o t a ls .
g iv in g
w it h
T o
b y
q u a rter,
and
q u a rte r ly
fo r
th e
tw o
fis c a l
p la y e d
in d ic a te
'
tr a d e t o t a ls , w e s u b
im p o r t s ,
retu rn s
years.
‘
O ver
ex p orts
and
b a la n c e s o f m e r c h a n d is e , m o n t h b y m o n t h , a n d q u a r te r
la s t
»
,
fro m
1 8 9 8 -9 9 7 * o u r t r a d e
c le a r ly th e c h a n g e s in t h e fo r e ig n
a
at
fo r
th e
im p o r t a n t p a r t in
jo in
,
cou n try
h a s m o r e t h a n d o u b le d , e x p o r t s r is in g in
a n d im p o r t s fr o m
an
of
c o m b in e d )
o r , t o b e m o r e e x a c t , s in c e
th is
♦ Subject te call at an earlier date at a certain price, at com pany’s option.
has
th e
excess
poun ds
S150.000
2,500,000
12,000,990
403)00,000
5,500,000
3,500.000
1,000,000
10,000,000
450,000
1,400,000
15,000,000
800,000
2,039,520
1 1,000,000
12,000,000
12,000,000
1,000,000
5 ,000,000
3,000,000
25,000,000
30,000,000
5,000,000
7.500,000
2 ,000,000
1,137.114
5,500,000
2,500,000
i 1912 ►May 1 1914
i 1912 ►May 1 1918
2 1912 May
1 1913
1 1912 ►June 1 1917
1912
1917
1912
1914
13-*15
Feb. 1 1912 Feb.
b%
r e s u lt
th a t
o ffic ia l
Amount.
100,000
750,000
500,000
450,000
20,000,000
1,125,000
250,000
00,000
450,000
5 ,000,000
37,000
1,000,000
1,000,000
1%
'<%
th e
W a s h in g to n
p r ic e s m a y h a v e fig u r e d in H ie e x p a n s io n .
1 1012
July
Mch. 15 1912 Meh. 15 *1-1-15
Mch. 15 1911 ►April 1 1910
May 15
1
April 1
April 1
Feb. 15
b oth ,
t w e l v e t h e o u t w a r d flo w o f c o m m o d it i e s w a s in v a lu e in ;
q u a n tity
American Rolling Mill C o........... >%
Ce itral N. Y. Gas A Electric Co. >%
Commonwealth Water A Light
Co., Summit, N. J .................... >%
th e
n ow
c le a r ly
tw e lv e
Dallas Electric Corporation-----Eric Railroad................................
do
...............................Hampden R R . Corporation____
Illinois Central I t R ...............—
Innlanap. Newcastle * E a s tT r.
Interborough-Metropolitan C o ..
Intcrnat. A Great Northern R y .
Lake Shore A Mich. South. R y . .
Maine Central RR ......................
Missouri Kansas A Texas R y . . .
M is; >uri Pacific R y ------- ---------Montreal Tramways, I .t . A P.Co.
N. Y . Cent. A Hudson R iverR R .
N. Y . New Haven A Hartf. R R .
Portland R y ., Lt. A Power C o ..
be
bu t
b y
at
th ey
con
P R IN C IP A L N OTE ISSUES SOLD D U R IN G F IR ST H ALF OF 1912— NOT
LIST ED .
Ini.
la s t
and
1912:
Alabama Tennessee A Nor. RR_ ’>%
Aroostook Construction Co____ ">%
t%
Brooklyn Rapid Transit Co____ ')%
Carolina Cllnchfleld A Ohio R y . >%
m e r c h a n d is e
fo llo w in g
m illio n s ,
fir s t
of
A m e r ic a n
stock .
273
m ovem en t
t h e fu ll e x t e n t o f t h e e x p a n s io n f o r
is
w e
n o t e s fo r w h ic h a m a r k e t w a s s o u g h t d u r in g
r e p r e s e n tin g
tr a s tin g
th e
C oal
th is
m illio n s
A g r ic u ltu r a l C h e m ic a l C o . p r e fe r r e d
o f
oth er
of
m a y n o t e t h e 4 4 m illio n s o f M e x ic a n
(1 2
w o u ld
r e la tiv e ly
a d d it io n
STATES
C o. th a t
H ou ston .
stock s
th is
tim e ,
com m on
th e
G ris c o m
K n o x v ille , a n d
in
15,
C e n tr a l’ s
m illio n s
and
and
m ade
R a ilw a y s , w ith
a b lo c k
B ertron ,
e le c tr ic
p r o p e r t ie s
of
S ta te
(2 0 )4
&
of com m on
Y ork
ou t
p r e fe rr e d
m anaged
p h is , L it t le
b r in g
C itie s C o m p a n y
m illio n s
th e
N ew
30
is s u e d
T h e
706
L ig h t
sta tem en t
Y ork
June
com m erce,
pages
9,
R a ilw a y ,
“ C h r o n ic le ”
th e
w ill s h o r t ly
A m e r ic a n
and
in
ended
M arch
o ffic ia l
T h e N ew
u n p re ce d e n te d
c o r r e s p o n d in g
of
U N IT E D
a n d t o t h is c o u n t r y is i n d i c a t e d f o r t h e fis c a l y e a r j
p u b lis h e d
m illio n s e a c h
th e
A n
fro m
1912, w as
E le c t r ic
15
(s e e
1 6 3 3 ).
8 2 0 ,0 0 0 ,0 0 0
a lly
lis t e d
stock
17
“ C h r o n ic le ”
H avana
has
p r e fe rr e d
1632 and
th e
T h e
of F eb .
OF
1 9 1 1 -1 2 .
th a t
Y o r k , w h o s e fir s t fin a n c ia l s t a t e m e n t , m a d e t o th e
q u ite
of
tr a ffic
th e r e h a b ilit a t e d . T h ir d
E x ch a n ge
to
of
m illio n s
have
of
(m o s tly
1) o f t h e W e s t e r n M a r y la n d ’ s
c o r p o r a t io n s o f th e
W e
o f stock
sh ares
C u m b e r la n d
10
F ou r
1 0 3 )4
h ow ever,
fie ld .
has
n e a r ly
com m on .
o f
(J u ly
fro m
exch an ge
C e itr a l s y s t e m ,
is tin g
la tte r ’s
TRADE
I o w a C e n tr a l w it h
t h e M in n e a p o l is & S t . L o u is is m a r k e d b y t h e l i s t i n g o f
11)4
145
fo r
g o ld
a n d s ilv e r
•
146
THE CHRONICLE
F O R E IG N T R A D E M OVEM ENT IN 1 9 II-I2 AN D
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§ S S tn
le a v in g
a
a g g reg a te
a g a in s t
‘
T h e
v a lu e
net
in
1 9 1 0 -1 1 .
T h e
of
as
in
1 9 1 0 -1 1 ,
w ere
years
s in c e
1 8 9 4 -9 5 ,
and
th a n
2 0 0 ,5 4 3
b u s h e ls
t o t a l.
bushel
ago
and
fre e ly
1 9 1 0 -1 1 ,
C orn
and
$ 1 ,5 2 7 ,2 2 6 ,1 0 5 ,
record
1 9 1 1 -1 2 a n d
fa v o r a b le
r e a lly
bu t
ex p orts
h a v in g
6 9 .1 c .
been
in
tra d e
v ir tu a lly
s m a lle r
abou t
w ere
la s t y e a r
and
p r ic e
$ 1 ,0 2 4 ,
r e s p e c tiv e ly ,
F lo u r ,
th a n
m u ch
th e
in
o n e -t h ir d
any
of
le s s in
$4 8 7 ^
in
a
c o n s id -
lo w e r ,
and
c o u n tin g
fo r
it.
C otton
a
very
h eavy
w it h
th e
in
g a in ,
w it h
and
years.
exp ort
$4 64,
a g a in s t
1 9 0 9 -1 0 .
P r o v i
h og
s h ip m e n ts ,
b u t
9 2 .8 c .
1 9 1 1 -1 2
p rod u cts
as
a u g m e n ta tio n
1 9 1 0 -1 1 ,
year
m ore
p r e c e d in g
o n ly
$5 2 6 %
a
ou t
h ig h e r v a lu e , th e
tw o
been
m od era te
'r e g i s t e r e d
w it h
th e
h a v in g
1 9 1 0 -1 1
e x h ib ite d
C o n tra ste d
e x p o r t s w a s le s s t h a n la s t y e a r .
o f
s a tis fa c to r y
exp ort
le u m )
2
•; s a m e
1153
an
m illio n
a r t ic le s
m illio n s
m easu re
in c re a s e .
(b r e a d s tu ffs ,
fu r n is h
'a b o u t
n oted
in
ac
m u ch
lo w e r
a g g reg a te
in
o f th e
T h e
th a n
fo u r
as
p r ic e s
of
th e
o f th e
covered
1 ,2 4 5
p etro
of
b y
or
th e
m illio n s ,
p r e c e d in g
ex p orts
ite m s
and
$ 9 5 9 ,6 0 0 ,0 0 0 ,
th a n
le a v in g
in
record ed a
le a d in g
p r o v is io n s
v a lu e
g rea ter
1 9 1 0 -1 1 ,
v a lu e
P e tr o le u m
co tto n ,
d o lla r s
m ore
fu ll
•fro m
retu rn s
fis c a l
th e
s m a lle r
o il
g a in s
m an u
m a n u fa c tu r e s .
o f th e
of
been
r e c e iv e d
m ade
in
in
th e
lik e
fro m
n ecessary
e le v e n
b u s h e ls ,
p e r io d
lu x u r ie s
ph e
abroad ,
b y
th e
o f t h a t s ta p le f o o d
th e
1 3 ,6 4 1 ,9 0 1
prosperou s,
yea r w as th e
p ota toes
of
m on th s
a g a in s t
1 9 1 0 -1 1 .
w ere
o f
o n ly
W ith
im p o r te d
very
13
fo r
an
in c r e a s e
a r t ic le s
17
fa v o r
fo r
of
w it h
of
m illio n
im p o r t a t io n
1 9 1 0 -1 1
m illio n s ;
8 %
on
fib r e
and
d o lla r s .
s h o w in g
in c lu d e
m illio n s ,
th e
th e
fo r
year,
retu rn s
th e
oth er
h ow ever,
fo r
th e
a r t ic le s
are
th e
r e c e iv e d
L e a d in g
in c r e a s e s
c o ffe e ,
27
ru bber,
and
fr u it s
and
as
m illio n s ;
17 m illio n s ;
m a n u fa c tu r e s ,
th e
la r g e
9 %
n u ts,
m e r c h a n d is e
y e a r ’s fo r e ig n
tw e lv e
m on th s
tra d e,
w as
a
n ot
e le v e n
net
net
o u t flo w
m il
4
m il
b a la n c e
th e
g o ld
lit t le
$ 8 ,3 6 9 ,8 4 8 .
$ 5 1 ,0 9 7 ,3 6 0 ,
bu t
in
in
m ove
a g a in s t
In
th e
y ea rs th ere w ere n et e x p o rts o f 7 5 %
u s.
1 9 1 0 -1 1
tw o
w e
p r e c e d in g
m illio n s a n d
4 7 %
m illio n s , r e s p e c t iv e ly .
W e
th e
append
b a s is
a
s e r ie s
o f th e
fig u r e s
a b o v e d is c u s s io n .
of
ta b le s
and
w h ic h
rem ark s
T h e y w ill b e f o u n d
h ave
fu r n is h e d
c o n ta in e d
in
th e
u s e fu l fo r r e fe r
en ce a n d as a m a tter o f record .
FlscalYear
ended
June 30.
year,
a ll o t h e r
or
as
a
com
o f exp ort
yet
m on th s
fo r
a v a ila b le ,
a
fa ir ly
th e
bu t
con
Wheat
Wheat.
Flour.
%
1891
1892
1893
189-1____
1895____
1 8 9 0 .—
1897
1898
1899
190 0
1901
1902
1903 ____
1904 —
1905
1906
1907 ____
1908
1M'.)-------1910
191 1
1912a—
$
.272 54 .705,616
51,420
_____________
.132 75 .362.283
161,399
-------------------93.534
,970 75 .494.347
_____________
59,407 .041 69 ,271,770
43.805 .603 51 .651,928
39,709 .868 52 ,025,217
59,920
,178 55 .914,347
_____________
145,084
_____________
659 69 .263,718
104.269
_____________
.169 73 ,093,870
_____________
.080 07 ,760,886
73,237
_____________
.743 69 .459,296
06.771
_____________
112,875
222 65 .661,974
87,795 .104 73 ,750.404
35,850 ,318 68 ,894 836
3,905 ,579.40 ,176 136
-------------------_____________
28,757
,517159 ,106.869
60,214 ,388 62 ,175,397
_____________ ,170,508
99,736
C8.0J4
,15/ ,3 tt
47.806
_____________ .621,467
22,010
_____________ ,386,940
28,440
,000.000
Total
Wheat
and Flour.
S
,125.888
,701,415
.029,317
,078,811
,457,591
,735,085
,834.525
,948,377
,363,039
,997,906
,231,039
.537.190
.551,608
.745.154
.081,715
,864.380
,389,795
,907,275
,- 1. l.t
,418 065
,4?7.21<)
, '4 0 000
Com.
Total Wheat
Corn
and Flour.
$
17,652,687
41,590,401
24,587.511
10,211,15
14.050,76.
17,836,802
54,087,15S
74,196,851
68,977,44!
85.500,-101
32,527,98.
16,185,67.'
■10,540,637
10,071,33
17,446,921
62,061,856
14.261,810
33,942,197
Total all
Bread-
t
123,778
278,351
103,610
158,889
110,108
129,571
169,921
289.145
240,340
220,203
248,759
194,722
202,092
134,816
91,528,
149,926.
166,651,
197,849,
2 5 ,1 0 4 ,-IOC i »■*,1-tO,
25,427.99 1 120,856,
>5,901,479 107,388,
2 1,200,000 i 08,610
stuffs.
S
,121,656
.363,117
.312.654
.777,229
.604,780
.350,993
,857,219
,897,119
,999,699
,744,078
,594 ,6 1 8
,134,344
,242,285
,050.378
,732,910
,468,901
,120.702
,260,588
,161,624
,592,011
,913,537
,600,000
a F ig u re for 1912 are not final, and are subject In all cases to slight corrections
when later returns are received.
above,
q u a n t it y
m o d it ie s in t h e la t e fis c a l y e a r .
T h e
vege
a m ou n t,
in g
BR E A D STU FFS F X P O R T S B Y Q U A N T IT IES.
Year
ended
June 30.
Wheat.
1891............
1892............
1893...........
1894 ...........
1895............
1896............
1897............
1898...........
1899...........
1900............
1901...........
1902...........
1903...........
1904...........
1905............
1900............
1907...........
1908............
1009 .........
1910............
1911...........
1912a_____
55,131.948
157,280.351
117.121,109
88,415,230
70.102.704
60.650.080
79,562,020
148,231,201
139.432.815
101,950.389
132.060,667
154.856.102
114,181,420
44.230.169
4.394,402
34.973.291
76.509,423
100.371,057
66.023.2-14
40.079,876
2
30,000,000
‘ (1 0 .2 3 c . p e r lb ., a g a in s t 1 4 .5 c .), t h e v a lu e o f th e y e a r ’s
very
lik e
ca m e u n d er th a t h ea d , sta n d
th e
quan-
5 6 .4 c .
w en t
c o m p a r in g
in
averaged
barrel
a g a in s t
W h eat
a t s lig h t ly
9 4 .6 c .
h ow ever,
per
s io n s
at
7 2 .5 c .,
1 9 0 9 -1 0 .
average
v a lu e
s a y , w e s t ill
e x p o rt),
VA LU E O F B R E A D STU FFS E X P O R T S .
w h ile
t h e p r e v io u s y e a r , b u t th is w a s in
th a n
d o l
co tto n
fr e e ly , a r t w o r k s , w h ic h
m en t
■e r a b l e m e a s u r e o f f s e t b y h i g h e r p r i c e s , t h e a v e r a g e v a l u e
per
a
o u r p r o d u c tio n
W e
1 9 0 7 -0 8 .
b r e a d s tu ffs,
sam e
in
fo r
b a l a n c e o f $ 5 5 0 ,7 9 5 ,9 1 4 in
s h ip m e n ts
• tity t h a n
h a v in g
in
N o tw ith s ta n d in g
o f ou r m erch an -
a g a in s t
w a s $ 6 6 6 ,4 3 1 ,5 5 4 , in
1 8 9 7 -9 8
w e
w it h
and
fe a tu r e
1911.
our
"2 5 o
1 2 ,0 4 9 ,3 2 0 ,1 9 9
$ 1 ,6 5 3 ,4 2 6 ,1 7 4 ,
$ 5 2 2 ,0 9 4 ,0 9 4
-b a la n c e
m illio n
lio n s .
;d is e e x p o r t s fo r t h e t w e lv e m o n t h s o f 1 9 1 1 -1 2 w a s $ 2 ,
im p o r ts
A
a r r iv a ls
n o
le a v in g
th e
33
n u ts , le a th e r a n d
w ood
in
E x p o r t s r e a c h e d $ 5 7 ,3 0 6 ,3 4 8 a n d im p o r t s $ 4 8 ,9 3 6 ,5 0 0 ,
sta ted , th e
* 2 0 4 ,2 2 2 ,0 8 8 ,
and
fr e e ly
m illio n s ,
th a n
h id e s a n d s k in s , 2 9 m illio n s ; I n d ia
♦Excess of imports.
B r ie fly
10
m illio n s ,
fr u its
1 9 1 1 -1 2
lio n s ; w o o l,
t3 c3 ^
St
oc
lis t i m p o r t a n t e x p a n s io n is t o b e n o t e d
h eavy
cou n try
m ore
(b u t, stra n g e to
7
and
a r t ic le s ,
con tra sted
3i
o o>
3Is
iS3
i i s
2a^
IsS
*«
§
3sS
l i e
tob a cco,
s t u ff in
s ta p le
|5|
0*0*2
ilil
I||j}
«0 *Q
•aI
c h e m ic a ls ,
le s s
ou t
a u t o m o b ile s
coal
g a in
a n d ste e l m a n u fa c tu r e s
a r t ic le s
m illio n s ,
m illio n s ,
m an y
su gar,
Ss|
th ese
o f th e
a p p r o x im a te ly
1 0 m illio n s
of
s e r io u s s h o r t a g e
<U f S
fe S3 J
: • •
:| s
3 3 «g,
0*0*
S c -9
§ g
9
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m a n u fa c tu r e s
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[VOL. LXXXXV
Bushels.
Avge.
per
bush.
A w e.
per
bbt.
Total
Wheat
and Flour.
$
Barrels.
0.933 11.344.304
1.026 15.190.769
0.799 16.020.339
0.672 16.859.533
0.570 15.268.892
0.655 14.620.864
0.753 14.569.545
0.983 15,349,943
0.748 18.485.600
0.718 18.699,194
0.733 18,650,979
0.729 17,759.203
0.769 19.716.484
0.811 16.999.432
8.830.335
0.888
0.822 13,919.048
0.787 15.584.667
0.994 13,927,247
1.017 10.521.16
9.040.987
1.024
10.U->,-to
0.946 l l , 000.001
S
4.822
4 959
4.542
4.109
3.383
3.568
3.849
4.512
3.954
3.624
3.724
3.697
3.748
4.053
4.547
4.246
3.990
4.608
4 a«2
106,181.316
225.605.810
191,912.634
164.283.119
144.714.146
126.443,968
145.088.972
217.300.004
222.G18.420
180,090.564
215,990,073
234,772.515
202,906,273
120,727,613
44,162,409
97.609,007
146,640,424
103,043,668
I l4.2HK.-UiX
5.207
■i.bii.
4.641
Bushels.
Avge.
per
bush.
Bushels.
30,768,213
75,451,849
46,037.274
05.324.841
27,691,137
99,992,835
170,916,365
208,744,939
174,089,094
209,348,284
177.817,965
26,030.552
74.833,237
65,858,905
88.807,223
117,718,657
83,300,708
52,445,800
35.853.412
87,362.068 36,802.374
t > y ,jll,/o . 6j,/t> l ,46fe
40,300,000 40,300,000
S
0.570
0.500
0.534
0.462
0.529
0.378
0.306
0.355
0.397
0.407
0.464
0.608
0.542
0.538
0.534
0.527
0.531
0.647
0.703
0.691
0.604
0.725
a Figures for 1912 are not final, and are subject In all cases to slight corrections
when later returns are received.
THE CHRONICLE
Ju l y 20 1912,]
147
VALUE OF IMPORTS AND EXPORTS OF MERCHANDISE, 1891 TO 1012
Excess of Exports
or
Imports.
Merche ndise.
Year ending
June 30.
Exports.
S
.......... 884.341,884
1891
1892 ...................... 1,029.893.483
847.278,725
1893 ......................
891.907.709
1894 ......................
807.538.165
1895 ......................
Imports.
S
835.747.785
817.496,397
854,405,176
647.775.017
731,969,965
Exp.
Exp.
Imp.
Exp.
Exp.
4,400.959,960 3,887,394.340 Exp.
Total 6 years.
Average-------------- 892,191,993 777,478,868 Exp.
1896
1897
1898
1899
1900
882.606.938
1,050,993.556
1,231,482.330
1,227.023.302
1,394,483.082
......................
......................
......................
......................
......................
779,724.674
764.730.412
616.049.654
697.148.489
849.941,184
Exp.
Exp.
Exp.
Exp.
Exp.
$
48,594,099
212,397.086
7,126.451
244,132,692
75.568.200
Total Imports
and
Exports.
RAILROAD GROSS AND NET EARNINGS FOB
MAY.
S
1,720,089,669
1,847,389.880
1,701,683,901
1,539,682,726
1,539,508,130
573,565,626 8,348,354,306
114,713,125 1,669,670,861
102,882,264
286,263,144
615.432.676
529.874,813
544,541.898
1,662.331,612
1,815,723.968
1,847,531.984
1.924.171.791
2,244.424.266
Total 5 years.. . 5.786,589.208 3,707.594.413 Exp. 2,078.994,795 9,494,183,621
Averago-------------- 1,157,317.842 741,518,883 Exp. 415,798,959 1,898,836,724
1,487.764.991 823,172,165 Exp.
1,381,719.401 903.320,918 Exp.
1,420,141.679 1.025.719,237 Exp.
1.460.827.271 991.087.371 Exp.
1.518.501.666 1,117.513.071 Exp.
1901
..........
1902 ......................
1903 ......................
1904 ......................
1905 ......................
664,592,826
478.398,453
394,422.442
469,739,900
401,048,595
2,310,937,156
2.285.040,349
2.445.860.916
2,451,914,642
2.636,074,737
Total 5 y ea rs... 7,269.015,008 4.860.812.792 Exp. 2,408.202,216 12,129.827.800
Average................ 1,453,803,002 972.162,558 Exp. 481,640,444 2,425,965,560
1906 ...................... 1,743.864.500 1.226.562.446 Exp. 517.302,054 2,970,426,946
3,315,272,503
1907 ...................... 1,880,851.078 1,434,421,425 Exp. 446.429.653 3,055,115,138
1908 ...................... .1,860,773,346 1.194.341.792 Exp. 666,431,554 2.974,931.328
1909 ...................... 1,66.1,011.10 > 1.311.920.22. Exp. 351.090.880 3,301.932,150
188,037,290
1910
............ 1,744.984,720 1,556.947.430 Exp.
Total 5 years.. . 8,893.484,748 6.724,193.317 Exp. 2,169,291,431 15,617.678,065
Average................ 1,778,696,950 1,344,838.663 Exp. 433,858,287 3,123,535.613
2,049,320,199 1,527,226,105 Exp. 522,094,094 3,576,546,304
1911 ................ ..
1912
______ 2,204,222,088 1,653.426,174 Exp. 550,795,914 3,857,648,262
Note.— Th e foregoing figures are exclusive of gold and silver In ore exported and
Imported, which we Include In gold and silver
GOLD AND SILVER MOVEMENT.
_____ _____ _
Silver.
Gold.
Year
ending
June 30.
Exports.
Imports.
Excess of
Exports (+ )
or Imports (—)
Excess
Exports.
Imports.
o/
Exports.
$
I
5
1891 . . . 86,362.803 18.447,370 + 67.915,493 22,729.705 26,980,488 64.250,783
+ 259,573 33;i82,220 29.611.8471 3,570.373
1892 . . . 50.208,331 49.948,758
41,107,181
34,293,999
6,813.182
1893 . . . 108.697.451 22.069,380 + 86.628,071
+ 4.005,567 50,667,059 19,965,713 30,701.346
1894 . . . 76,995.130 72.989.563
24,295,286
20,211,179
27.084.107
+30,083,721
36,384.760
1895 . . . 66,408.481
1890 . . . 112,409.947 33.525.065 +78,884,882 60.541,670 28,777,186 31.764,484
30,533,227 31,413.411
1897 . . . 40.361,580 85.014,780 — 44,653,200 61,946,638
1898 . . . 15.406,391 120,391.674 — 104,985.283 55,105,239 30,927,781 24.177.458
1899 . . . 37.522.080 88,954,603 — 51.432,517 56,319,055 30,675,056 25,643,999
+ 3,693,575 56,712.275 35,256.302 21,455.973
1900 . . . 48,206,759 44.573.184
1901 . . . 53,185.177 66,051.187 — 12,866.010 64,285,180 36,386.521 27,898,559
1902 . . . 48,568.950 52,021,254 — 3.452.304 49.732,390 28,232,254 21,600,136
+ 2,108.568 44,250,259 24,>63,491 20,086.768
1903 . . . 47,090.595 44,982,027
1904 . . . 81,459,986 99.055,368 — 17.595.382 49.472,702 27,768,814 21,703,888
27.484,865 21,363,947
1905 . . . 92,594,024 53.648.961 +38,945,063 48.848,812
1906 . . . 38,573,591 96.221,730 — 57.648.139 65,869,063 44,442,540 21,426.523
42,946,624 13,792,449
1907 . . . 51,399,176 114,510,249 — 63,111.073 56,739,073
57.921,202 44,658,097113,350,121
1908 . . . 72.432,924 148.337.321 — 75,904.397 55,682,792
43,954.810,11.727.982
+47.527,829
1909 . . . 91,531,818 44,003.989
1910 . . . 118,563.215 43.339.905 + 75.22 1.310 5o .286,861 45.217.194110,069.667
1911 . . . 22,509.6531 73.607,013 —51,097,360 64.749,958 45,937,249,18.812.709
+ 8,366,048 6 i,8J0,•415,4/,050,219 17,840,196
1912 a .. 57,306,348 4S,tf.i0,o0u
The earnings of United State railroads for the month
of May make a better comparison with a year ago than
might have been expected in view of the numerous
unfavorable conditions prevailing during that period.
The overflow of the Mississippi reached serious propor-i
tions early in the month, inundating large areas ancl
interfering with railroad operations in the territory
affected. The anthracite coal miners did not returh
to work until May 22, while in the bituminous coajl
regions the resumption of work in different parts of the
country occurred only gradually. In addition, ah
was pointed out in our early preliminary review for
the month, in our issue of June 15, the Western grain
movement in the aggregate fell considerably below
that of May 1911 and the cotton movement in th§
South was not up to that of the previous year. Under
these circumstances, and particularly the complete
suspension of anthracite coal-mining for the greater
part of the month, it is certainly encouraging to find
an increase, though small, in gross earnings for thp
month on United States railroads as a whole, while
as to the net earnings, though there is a loss, it is
relatively small, making the result here, too, sur
prisingly good. Stated in brief, there has been an
addition of $6,044,698, .or 2.67% , to the gross, and
this has been attended by an augmentation of $8,
497,364 in expenses, due to floods, bad weather, &c.,
leaving a loss of $2,452,686 in net earnings, or just
over 3J^%—in exact figures 3. 58% .
a Figures for 1912 are not final, and are subject In all cases to slight corrections
when later returns are received. 6 This Is an excess of Imports.
EXPORTS
Fiscal
Year
ending
June 30
OF LEADING STAPLES—COTTON, BREADSTUFFS,
____________
PROVISIONS AND PETROLEUM.
Breadstuffs.
Cotton.
Provisions
and Dairy
Products.
1891 . . . 128,121,656 290.712,898 139,017,471
1892 . . . 299,363,117 258.461.241 140.362,159
1893 . . . 200,312,654 188,771,445 138.401.591
1894 . . . 166,777,229 210,869,289 145,270,643
1895 . . . 114,604,780 204,900,990 133,634.379
1896 . . . 141,356,993 190,056.460 131.503.590
1897 . . . 197,857,219 230,890,971 137.138.084
1898 . . . 333,897,119 230.442,215 167.340,960
1899 . . . 273,999,699 209,564,774 175.508.608
1900 . . . 262,744,078 241.832,737 184.453,055
1901 . . . 275,594.618 313.673,443 196,959,637
1902 . . . 213,134,344 290.651.8ip 199.861.378
1903 . . . 221,242,285 316.180,429 179,839.714
1904 . . . 149,050.378 370.810.246 170.027.580
1905 - 107,732,910 379.965.014 169.999.085
1900 . . . 186.468.901 401.005,921 210,990,065
1907 - - 184.120,702 481,277,797 202.392,508
1908 . . . 215.260,588 437,788,202 192.802,708
1909 . . . 159,929,22 41 7.390 66' 06.521,9
1910 . . . 133,592,611 450,447,243 130,632.783
124,913,53. »o5,318,869 149,389,737
1911
1912 a .. 124,000,000 >06,500,000 156,500,000
Petroleum.
Total
Four
Staples.
Total
All
Exports.
52,026,734 009,878,759 884.341.884
44,805,992 742,992.509 1,029.893,483
42,142,058569.627.748 847.278,725
41,499,806584,416,964 891,907,709
40.060,082 499,800,231 807,538,165
02,383.403 525,300.440 882,606,938
62.635,037 628,521,311 1,050,993,556
56,125,578 787,805,872 1,231,482.33®
50.273.1081715,346,249 1,227.023,302
75,611,750764,041.620 1,394,483.082
71,112,788857.340,486 1,487.764.991
72.302.822;775,950,303 1.381,719.401
67.253.533 784.515,961 1.420.141,679
1,460.827.271
79.000.
469;774,948.679
79.793.222 737.490,831 1,518,561,666
84.041,327 882,606,214 1 743,864,500
84,855,715 952.046,722 1.880,851.078
104,110,440 949.967,938 1,860,773.346
>05.>*'61.61 449,841,4 72 1.063.011.104
99,090,212.813,361.568 1,714,984.720
i >,il >,jlt oi ,737.66>‘ 4,0>9.32U,ly9
12.000.000 159,000,030 >,204,222,088
a Figures for 1912 are not (Inal,and an* snhtcct in all cases to slight corrections.
x Including both crude and rctl ed, and also residuum.
Cotton Exports.
Year ending June 30.
Bales.
4,659,765
6,176,365
7,581.004
7.373.382
6.090.144
6.508.450
6,873.692
6,938.279
6.009.194
8,337.964
7.050.856
1900
____________________
8,708,469
1qn7
__ ____________________
7.434,580
1008................................................
8.577. 28
1909................................- .............
_____ ________ . . . ______
6,263.293
7.829.0 >6
io n ”
...... ...............................
1-10 6 7< 615
1912a............- ..................
.......................................................
.......................................................
18981..............................................
1899...............................................
1900...............................................
1901................................................
1902................................................
1903_____ ____________________
1904 _____________ ___________
Pounds.
2.335,226.385
3,103,754,949
3,850,264,295
3,773.410.293
3,100,583,188
3,330,890,448
3,500.778,763
3.543.043,022
3.063.912.760
4.304,848.903
3.634.045.170
4,518.217.220
3,816,998.693
4.447,985,202
3,206,708,226
4,013,9*0,015
5 517 ,750 000
* Petroleum,
Gallons.
890,254,034
967.525.242
1,014,276.272
919.044,718
950,623,155
1,008,947,394
1,075,899.960
941.156,856
961,860,345
1,074,384,814
1,182,917,221
1,185,202.449
1,372,955,746
1,458.483.303
1,422,012,721
1,403,142,558
1.615.000,000
a Figures for 1912 are not final, and are subject In all cases to slight corrections.
x Includes both crude and refined, but not residuum, the exports of the latter
being very small
May (433 roads)—
1912.
1911.
____
235,410
231,597
Miles of road
Gross earnings
___ $232,229,364 $226,184,666
Operating expenses ________ 166,193,7157
157,696,403
Net earnings _.
___ S60,035.597
$68,488,263
-Increase or DecreaseAmount.
%
Inc.
3,813 1:64
Inc. $6,044,698 2.67
Inc. 8,497,364- 5.36
Dec.$2,452,666
3:58
As diminishing somewhat the significance of thfe
relatively good comparisons the present year, it hajs
of course to be borne in mind that the showing in
May last year was rather indifferent, owing to the
reaction in trade, and would have been still worse
except for the fact that the roads then had the ad
vantage of an extra work day. The changes at that
time were not very striking and yet there was a loss
in both gross and net earnings, notwithstanding the
extra day, though this loss was not very large, being
$4,624,078 in gross, of 1.99% , and $ 1,695,071 in net,
or 2.39% . Thus this yehr’s gain in gross does not
amount to much more than a recovery of what was
lost last year, and the decrease in.net, though slight,
is in addition to a decrease last year.
i
Going back ovena series;of years, the unfortunate
feature has not been-any lack of growth in the gross
revenues but the , large and rapid expansion im-the
expenses. In May 1910, for instance, there was an
addition to the gross revenues in the handsome sum
of $31,983,394 ( 16.25% ) but no less than $26,756,567
of the whole amount 'was consumed by augmented
expenses, leaving ai gain in net of only $5,226,827*
or 8 .06% . In the case of many leading roads there
was actually a heavy loss in net at that time in face
of tremendous gains in gross. Save in 1908 at thje
time of the disastrous collapse following the panic of
1907, the tendency of gross revenues has been almost
continuously upward; net earnings have also tended
higher in some measure, but, in more recent years-at
least, the gains in net have not been proportionate
to the gains in gross. An exception must be made
of 1909, when the managers were still economizing
in view of the shrinkage in earnings experienced, in
148
THE CHRONICLE
[VOL.
LXXXXV.
1908. According to our compilations, there was in noted that the Yazoo & Mississippi Valley has fallen
May 1909 an increase in gross of 826,220,645, of which $213,812 behind in gross and $242,383 in net, though,
$ 14,901,120 was carried forward as a gain in net. This on the other hand, the Illinois Central has only
. latter, however, followed a tremendous contraction in $32,210 decrease in gross and $ 95,212 decrease in net.
. revenues in the year preceding, so the gain represented
simply a recovery of what had been lost in the previous
. year.
Our compilation for May 1908 showed a contraction
. in gross earnings in the enormous sum of $38,537,942
and a shrinkage in net of $ 12,845,751. This, though,
. did not indicate the full extent of the shrinkage at that
i time.. Owing to the fact that the roads were doing so
poorly and comparisons were so extremely bad, some
-important companies withheld their returns, and conse.quently our aggregate covered only 153,310 miles of
line, A supplementary table which dealt with the
gross alone gave a loss in gross of not less than $45,034,
243 on 185,897 miles of road. Careful compilation
made by us later in the year induced the opinion that
the loss in gross in May 1908, including all the roads in
the country, must have been, ouglily, $55,000,000,
and the loss in net $ 18,000,000. In the following we
show the May comparisons for each year back to 1896.
We give the results just as- registered by our own
. tables each year, but in 1908 and prior years a por
tion of the railroad mileage of the country was always
.unrepresented in the totals, owing to the refusal of
.some of the roads to furnish monthly figures for
publication.
Gross Earnings.
Year.,
Year
Given.
May.
1890 . . .
1 8 9 7 ...
189.8...
1899 . . .
1 90 0 ...
1901 . . .
190 2 ...
1903 . . .
1901. . .
1 9 0 5 ...
1900 . . .
1907 . . .
1908 . . .
1909 . . .
1910....
1911 . . .
1912 . . .
Year
Preceding.
S
S
50,138,045 50,129,856
57,420,309 55,508,910
07.059,823 59,034,144
72.431,077 07,075,074
81,058,532 72,885,300
97,147,152 85,860,170
95,800,907 90,091,128
103,882,990 90,800,791
108,565,200 111,028,554
121.005,979 109,872,115
115,304,500 105,787,062
144,207,760 121,074,984
133,080,555 172,218,497
190,820,080 170,000,011
230,033,384 198,049,990
226,442,818 231,000,890
232,229,304 220,184,660
Increase or
Decrease.
Net Earnings.
Year
Given.
Year
Increase or
Preceding. Decrease.
S
$
8
+ 8,789 13,861,785 14,878,949
+ 1,851,393 10,795,849 14,615,804
+ 8,025,084 20,820,840 17,335,134
+ 4,750,003 23,287,947 20,883,314
+ 8,173,226 24,808,411 23,310,286
+ 11,286,982 31,083,786 20,283,210
+ 5,709,779 29,779,428 28,640,038
+ 13,082,199 33,980,575 28,937,381
— 2,103,288 31,807,800 34,801,074
+ 11,133,864 36,265,119 32,091,936
+ 9,517,444 34,414,213 30,946,848
+ 23,192,77G 43,705,830 37,319,290
—38,537,942 38,076,927 50,922,678
+ 20,220,045 64,690,920 19.789,800
+31,983,394 70,084,170 64,857,343
—4,024,078 09,173,574 70,868,045
+0,044,698 06,035,597 08,488,263
$
— 1,017,164
+ 2,180,045
+ 3,485,712
+ 2,404,633
+ 1,498,125
+ 4,800^576
+ 1,139,390
+ 5,043,194
—2,993,868
+3,573,183
+ 3,467,365
+ 0,446,540
—12,845,751
+ 14,901,120
+ 5,226,827
— 1,695,071
—2,452,000
Note.— Includes for May 118 roads in 1890, 128 in 1897, 127 in 1898, 123 in 1899'
128 in 1900, 110 In 1901, 109 in 1902, 101 In 1903, 103 In 1901, 100 in 1905 90 in
1900, 92 in 1907; in 1908 the returns were based on 153,310 miles of road: in 1909
220,614; in 1910, 220,346; in 1911, 230,230; in 1912, 235,-110. Neither the
Mexican roads nor the coal-mining operations of the anthracite coal roads are in
cluded in any of these totals.
As far as separate roads are concerned there is
naturally considerable irregularity in the character of
the returns. The volume of general trade over the
greater part of the United States was undoubtedly
larger in May 1912 than in May 1911. Accordingly,
where the roads did not suffer from any of the special
unfavorable conditions enumerated above, the showing
is as a rule quite good. On the other hand, in the
case of the roads that had special drawbacks to con
tend against, the results arc in some instances decidedly
poor. In this latter category the anthracite coal
roads (by reason of the cutting off of the anthracite
traffic, which is such an important item of business
with these carriers) belong in a class all by themselves.
The Lehigh Valley has a loss of $ 1,218,864 in gross
and of $821,612 in net, the Delaware Lackawanna &
Western a loss of $704,292 in gross and of $702,229 in
net; the Central of New Jersey $595,197 in gross and
$736,040 in net; the Delaware & Hudson $397,539 in
gross and $351,178 in net; the Reading (coal mining
operations not included) $773,024 loss in gross and
$ 725,037 in net; the New York Ontario & Western
$ 325,828 in gross and $258,534 in net, and the Erie
$535,243 in gross and $686,112 in net. As indicating
the effects of the overflow of the Mississippi, it may be
Among the Western roads, the Rock Island has lost
$256,482 in gross, but has managed to convert this
into a gain of $232,166 in net through a saving in
expenses. The Chicago Burlington & Quincy, on the
other hand, has $306,067 decrease in gross and $388,045
decrease in net.
The Milwaukee & St. Paul suffered a shrinkage of
only $ 103,817 in gross, but expenses ran up in such a
way as to cause a loss of no less than $765,145 in net;
this, however, is in part overcome by the good showing
made by the Puget Sound line of the same system,
which reports a gain of $257,923 in gross and of
$246,138 in net. The Union Pacific managed to add
a trifling amount to gross, namely $ 13,400, but loses
$386,402 in net. This is after a very poor showing
in May last year, at which time the gross fell $725,270
behind and the not $620,978 behind. The Southern
Pacific is able to report this time $269,239 increase in
gross, but with a decrease, nevertheless, of $ 128,99 ! in
net; last year in May the Southern Pacific lost $751,831
in gross and $398,049 in net.
The Atchison has very large gains—$662,425 in
gross and $749,668 in net—and these follow relatively
slight losses the previous year, namely $322,215 in
gross and $4,150 in net. The Northern Pacific has
$35,687 increase in gross but $ 191,181 decrease in
net, following no less than $ 1,467,529 loss in gross
and $204,836 loss in net in May 1911. The Great
Northern last year had $670,833 decrease in gross and
$317,059 in net; this year it has added $630,529 to
gross and $312,934 to not. The Missouri Pacific
makes apparently a surprisingly good showing with
$226,894 increase in gross and an improvement of no
less than $926,724 in net. But it must not be for
gotten that in May last year the Missouri Pacific was
distinguished for a loss of $732,000 in net on a gain of
$35,621 in gross.
In the case of the East and West trunk lines, the
feature is the large increase in expenses coincident
with very considerable gains in gross revenues. The
Pennsylvania Railroad on the lines directly operated
East and West of Pittsburgh reports $2,084,989
increase in gross, but only gained $502,741 in net.
Last year there was important contraction in expenses
a decrease of $ 1,069,484 in gross being attended bv a
falling off of only $ 158,633 in net. In May 1910,
however, these lines reported $3,354,324 addition to
gross, with only $84,731 addition to net. The New
York Central the present time reports $244,592
improvement in gross but $284,951 shrinkage in net.
This is for the Central proper. Including the various
auxiliary and controlled roads, the whole going to
form the New York Central System, the result is a
gain of 81,012,007 in gross but a loss of $37,723 in
net. In May last year the showing was just the
reverse, there having then been $202,772 loss in gross
with $229,730 gain in net. The Steel Corporation
roads, on account of the great revival of the iron and
steel trade, make strikingly good exhibits; thus the
Elgin Joliet & Eastern has $413,213 increase in gross
and $242,254 increase in net and the Bessemer &
Lake Erie $270,050 addition to gross and $ 276,846
addition to net. In the South, improvement con
tinues to be the rule, but expenses are running up.
The Louisville <fc Nashville has added $396,159 to
gross and $ 166,984 to net, the Southern Railway
THE CHRONICLE
J u l y 20 1912.]
$375,177 to gross but only $25,781 to net, while the
Atlantic Coast line,with $310,306 gain in gross,reports
$23,631 loss in net. In the following we show all
changes for the separate roads for amounts in excess
of $ 100,000, whether increases or decreases, both in
the gross and in the net.
P R IN C IP A L CHANGES IN
Tnrrpn
Groups VI. and VII. combined Include the northern peninsula of Michigan, all of
Minnesota, Wisconsin, Iowa and Illinois; all of South Dakota and North Dakota and
Missouri north of St. Louis and Kansas City; also all of Montana, Wyoming and
Nebraska, together with Colorado north of a line parallel to the State line passing
through Denver.
Groups VIII. and I X. combined Include all of Kansas, Oklahoma, Arkansas and
Indian Territory; Missouri south ot St. Louis and Kansas City; Colorado south ol
Denver, the whole of Texas and the bulk of Louisiana; and that portion
®w
co north of a line running from the northwest corner of the State through Santa re
and east of a line running from Santa Fe to El Paso.
Group X . includes all of Washington, Oregon, Idaho, California, Nevada, Utah
and Arizona, and the western part of New Mexico.
GROSS E A R N IN G S IN M A Y .
Increases.
P e n n sy lv a n ia ___________i/$2,084,989 V ir g in ia n ------------- ---------119.290
Baltimore & Ohio-----------734,959 Cin N O & Texas P ac-----H Z 'I S i
Atcli Top & Santa F c-----662,425 Seaboard Air Line-----------J 12,808
Great N orthern--------------630,529 Florida East Coast---------110,00Norfolk & W estern............
573,708 Duluth & Iron R an ge-----Mlnncap St P & S S M -----485,296
Elgin Joliet & Eastern---413,213 Repsesentlng 31 roads In
our com pilation-$10,628,106
Louisville & Nashville___
396,159
Southern-------------------------375,177
Decreases.
Atlantic Coast Line---------310,306
N Y New iia v & H a r t -.302,733 Lehigh V a l l e y . .. ............
Phila
&
R
e
a
d
in
g
..........
..
773,024
270,050
Bessemer & Lake E rie___
^ 4 ,^ 9 j.
Southern Pacific_________
269,239 Delaware Lack & Western
o l New Jerseyo9 o ,l J7
Chic Mllvv A Puget S d . ._
257,923 Central
je ____________________
535,243
Pittsburgh & Lake E r ie ..
256,210
397,539
N Y Central & Hud R iv ._ 0244,592 Delaware" & H udson------N
Y
Ontario
&
W
estern
..
325,828
Lake Shore & Mich S o ___
233,524
306,067
Chesapeake <fc O hio......... ..
233,474 Chic Burl & Quincy1.
256,48' • -Pacific--------•226,894 R ock Island----------Missouri
Yazoo
&
Miss
V
alley----213,812
183,430
Michigan C e n tr a l..............
175,521
165,344 Northern Central---Buffalo Rooh & l ’ lttsb---126,108
164,478 Chicago & A lton ---Chicago & North W estern.
103,817
160,635 Chicago Mllvv & St I*----Union R lt Penna------------148,436
133,255 Representing 13 roads in
Internal! &° Great5'North 11 1331255
Texas & Pacific__________
130,380
our com pilation------------$5,731,794
Y o t e __All the figures In the above arc on the basis of the returns filed
with tiic Inter-State Commerce Commission. W here, however, these
returns do not show the total for any system, we have com bined the
separate roads so as to make the results conform as nearly as possible to
those given In the statements furnished by the companies themselves.
a These figures cover merely the operations of the New York Central
Itself. Including the various auxiliary and controlled roads, like the Michi
gan Central, the Lake Shore, the “ Big F ou r", the “ Nickel Plate, ' &c., the
whole going to form the New York Central System, the result Is a gain
of $1,012,007.
,
x
.
y These figures represent the lines directly operated cast and west 01
Pittsburgh, Eastern lines showing 5836,141 Increase and the W estern lines
$1,248,848. For all lines owned, leased, operated and controlled, the result
for the month is a gain of 52,040,262.
BANKING, LEGISLATIVE AND FINANCIAL NEWS.
— The public transactions in bank stocks this week were
limited to sales made at the Stock Exchange of two small
lots (aggregating 9 shares) of National Bank of Commerce
stock, at 1983^ and 198M - No trust company stocks were
sold.
Shares. B A N K S — A'ew York.
Low. High. Close.
9 Commerce, N at. Bank o f ___ 198 >s 198 X 198
P R IN C IP A L CHAN GES IN NET E A R N IN G S IN M A Y .
Decreases.
Lehigh V alley____________ $821,612
Missouri Pacific....... ..........
Chic
Mllvv
&
St
Paul.........
765,145
Atcli Topeka & Santa F e .
749,668
736,040
1/592,741 Central of New Jersey-----Pennsylvania-------------'—
Philadelphia & R e a d in g ..
725,037
Boston & Maine--------------Delaware
Lack
&
W
e
s
t-702,229
Chicago fc North Western
319,414
686,112
Great N orthern..................
"12,934 Erie ______________________
Burl fc Q uincy---------388,045
Minn St P ft S S M -----oSn’ o?? Chic
Union
Paciflo------------------386,402
Bessemer fc Lake E r i c . . .
-76,846
351,178
Chic Mllvv & Puget S ound.
246,138 Delaware & H udson-------Elgin Joliet & E astern-. .
242,2o4 W abash----------------------—
R ock Island--------------------232,166 N Y Central & Hud R i v . . a284,9al
258,534
228,020 N Y Ontario & W este rn ..
Norfolk fc W estern--------242,383
Baltimore & O h io .............
175,o49 Yazoo & Miss Valley-------191,181
Louisville & N a sh v ille ...
166,984 Northern Pacific-------------183,821
Union R R — Penna------------163,769Northern Central------------Denver
fc
R
io
Grando-----159,973
N Y New H av & H a r t ...
144,418
Buffalo Koch fc P l t t s b ...
141,610 Southern Pacific------------114,7o2
Lake Shore & Mich S o —
130,367 Chicago & A lton ------------Pcre M arquette__________
116,099
Ohio St P Minn & O ______
114,189 Representing 18 roads In
our com pilation_______ $7,465,39o
Representing 20 roads In
our com pilation_______ $5,825,254
nTlicsc figures cover merely the operations of the New York Central itself.
Including the various auxiliary and controlled roads, like the Michigan
Central, the Lake Shore, the “ Big F ou r", the "N ickel Plate,” & c., the whole
going to form the N. Y . Central System, the result is a loss of $37,723.
y These figures represent the lines directly operated east and west of
Pittsburgh, the Eastern lines showing $481,804 increase and the Western
lines $20,937 Increase. For all lines owned, leased, operated and controlled,
the result Is a gain of $204,915.
When the roads are arranged in groups or geo
graphical divisions, it is found that Group 2 alone
has a loss in both gross and net. This comprises the
section wherein are located the anthracite coal roads,
making the falling off quite natural. No other group
or division has a loss in gross, but one other section
has a small loss in net, namely that comprising Groups
G and 7. Our summary by groups is as follows
SUMMARY BY GROUPS.
-Gross Earnings
1912.
1911.
Inc.( + )or DecX—)
S
S
%
Section or Group—
S
11,169,379
+324,143 2.90
Group 1 0 6 roads), New E ngland... 11,493,522
2,655,423 4.58
Group 2 (74 roads), East Sc Middle.. 55,259,982
May.
Total (433 roads)................
------ Mllcaae-----1911.
1912.
. 7,732
. 25,964
. . 25,166
. . . 39,903
Group* Nos. 6 A 7 .. . . . 65,701
. . . 55,283
Group No. 10.......... __ lo.GGL
7,713
25.752
24,652
39,340
64,921
54,124
15.0J5
Increase ( + ) or
1912.
1911.
Decrease ( - ) .
S
%
8
S
3,401,197 2,988,603
+412,594 13.81
15,203,049 19,241,512 —4,037,863 20.98
8,404,770 8,211,373
+ 193,397 2.35
+ 271,073 3.24
8,630,289 8,359,216
14,861,187 15,464,064 —602,867 .3.90
9,748.386 8,554,137 + 1,194,249 13.90
+ 116,751 2.05
5,780.119 5,669,368
T o ta l.................... ...235,410 231,597 66,035,597 68,488,263 — 2,452,606
NOTE.—Group I. tncludrs all of the New England States.
UrOUp11. incuuwa Jill ui
m ;w xotk and rumisyiviima cAtoin
3.58
of Pittsburgh and Buffalo; also all of New Jersey, Delaware and Maryland, and
the extreme northern portion of West Virginia.
Group III. Includes all of Ohio and Indiana; all of Michigan except the northern
peninsula, and that portion of New York and Pennsylvania west of Buffalo and
Pittsburgh.
Groups IV. and V. combined include the Southern States south of the Ohio and cast
of the Mississippi River.
149
Last previous sale.
July 1912 — 198
— The articles impeaching Judge Robert W . Archbald of
the United States Commerce Court were formally laid before
the United States Senate on Monday, the 15th inst., and on
the following day the Senate was sworn as a Court of Im
peachment. Yesterday the Senate re-convened as a tribunal
and gave Judge Archbald until July 29 in which to file his
answer to the charges. The House of Representatives will
have until Aug. 1 to respond to the defendant’s reply to the
charges against him, and the limit of time for all supplemen
tary answers was fixed as Aug. 3.
— Herbert Knox Smith tendered his resignation this week
as Commissioner of Corporations in the Department of Com
merce and Labor at Washington. Mr. Smith gives up his
office under President Taft in order to join Theodore Roose
velt and the so-called new “ progressive party” which the
latter represents. In presenting his resignation to 1 lesident
Taft Mr. Smith said:
I
have the honor to offer hereby m y resignation as Commissioner of Cor
porations In the Department of Commerce and L abor, to take effect at
the close of business July 18 1912.
I
do so because I Intend to support the progressive m ovem ent and
the new progressive party. That m ovem ent Includes the principles that
I believe In and that I have earnestly tried to further, so far as I could,
during m y term of Federal service.
I
feci that the new party represents these principles more directly and
with more promise and power of performance than either the Republican
or Dem ocratic parties.
I
trust that you will paidon this expression of m y personal views. It
seems only courteous that I should state to you the reasons for my action.
I
wish to retire from office as soon as practicable, and I believe that by
July 18 I can so close up m y official work as to leave the bureau with no sub
stantial lapse In Its operations.
.
Mr. Smith became Commissioner of Corporations in 1907,
Succeeding James R . Garfield. Luther Cohant Jr. of New
York, Deputy Commissioner of Corporations, was named by
President Taft on Wednesday to take the place of the retiring
Commissioner.
-The President also sent to the Senate on Wednesday the
nomination of Sherman P. Allen of Vermont to be Assistant
Secretary of the United States Treasury, to succeed A . Piatt
Andrew, resigned. Mr. Allen’s nomination was confirmed by
the Senate on the 18th inst. The post of Assistant Secretary
to the President, which Mr. Allen vacates, was offered to
Granville W . Mooney, ex-Speaker of the Ohio Assembly,
who declined the offer because of his desire to remain in Ohio.
-James B. Reynolds resigned on the 12th inst. as a mem
ber of the Tariff Board because of his appointment as Secre
tary of the Republican National Committee.
— Carmi A . Thompson assumed the office of Secretary to
President Taft on the 17th inst. He succeeds Charles D.
Hilles, who retired to take the Chairmanship of the Republi
can National Committee.
— Representative Sulzer’s bill creating as a division of the
United States Government a Department of Labor, with
jurisdiction over all problems concerning immigration and
labor, was passed by the House of Representatives on the
17th inst. W ith the establishment of the new body, it is
proposed that the Department of CofTOnorce and Labor
shall be known as the Department of Commerce. As ex
plained by Representative Wilson of Pennsylvania in a de
bate on the measure on the 10th inst., the bill transfers the
Commissioner-General of Immigration, the Commissioners
of Immigration, the Bureau of Immigration, the Immigration
Service at large, the Bureau of Labor and the Commissioner
of Labor from the Department of Commerce and Labor to
the Department of Labor. It changes the title of the Bureau
of Labor to the Bureau of Labor Statistics and the Commis
sioner of Labor to the Commissioner of Labor Statistics, and
transfers the duties of the Commissioner of Labor to the
Commissioner of Labor Statistics, including those imposed
by the Erdman Act. It authorizes the collection and publi-
150
THE CHRONICLE
[VOL.
LXXXXV.
cation of statistics relative to the conditions of labor and the
ac ,° r Sale,0f llccnsc- The bI1‘ does not propose to take
distribution of the products of the same, and authorizes the JwTv «n 7v r 7g , ? nr
o f act on so far as the contract Is concerned, but it docs
Secretary of Labor to call upon other departments of the S o w s mnynfa7 / f ‘ ! a,\ n0W e x ,l s t s t0 brlag a« Infringement suit which
Thhvi a u f traGt " ,tb re&ard t0 ‘ he use or sale o f a patented article.
Government for such statistical data as may be deemed
Thir l, it will so amend the Sherman Anti-Trust law, in effect, as to m ake
valuable for that purpose. It authorizes the Secretary of It applicable clearly to com binations and trusts In restraint o f trade where
patents are involved in the m onopoly.
Labor to act as mediator and to appoint commissioners of
It is stated that the general re-codification of the patent
conciliation in labor disputes; it directs the Secretary of
Labor to investigate and report to Congress a plan of co laws recommended by President Taft will not be undertaken
until the next session.
ordination of the activities of the present bureaus, commis
— A bill regulating the wireless apparatus of steamers was
sions and departments, in order to harmonize and unify such
activities, with a view to additional legislation to further agreed on by conferees-of the United States Senate and House
of Representatives on the 15th inst., and the conference
define the duties and powers of the Department of Labor.
~ Thc ;Pea11
intended to prohibit dealings in cotton report was adopted by the House on the 17th, and by the
. futures, was taken up for consideration in the House of Senate on the 18th inst. The bill was sent to conference
Representatives on the 13th inst. under a privileged rule, following the passage of the Alexander Bill on June 3 in
$nd passed by that body on the 16th inst. by a vote of 95 to substitution for the Smith Bill passed by the Senate on
25. The bill makes it unlawful for any person to send or April 30. The conference report stipulates that
cause to send any message (between States and Territories
and foreign nations) offering to make or enter into a contract
for the purchase or sale for future delivery of cotton without
intending that such cotton shall be actually delivered or
received, and prohibits the transmission of such messages by
telegraph and telephone companies. Fines of not less than
$100 nor more than $1,000, or imprisonment from one to
six months, are imposed for violations. During the pro
ceedings on the bill in the House on Tuesday, a telegram
from W. B. Thompson, of the New Orleans Cotton Exchange,
was submitted, in which he characterized the proposed legis
lation as “ drastic and destructive.” In this communication,
which was addressed to Representative H. Garland Dupre’
Mr. Thompson said:
“ The Beall anti-cotton futures bill, If enacted, will Strike-Southern pros
perity the severest blow It has sustained In m any years. It Is admitted
that som e legislation on future trading Is needed, but the bill In question is
drastic and destructive. To inform ed or open minds it has been dem onfrom ]fpf^rnV thC!Pr0P? ed 1t Klslatlon would P ^ ven t American merchants
fg
h
SPOt Purchases and sales and would destroy the American
TUrst tp exchanges. The inevitable results o f such conclusion would be:
r irst, to deprive the cotton producer o f the m ultitude o f small com petitive
markets and buyers which now purchase crop, and In consequence sum
m arily lower the price o f cotton : and, secondly, to place the price-m aking
power unreservedly in the hands o f a com bination o f foreign buyers and
spinners who would unquestionably flx it ow.
I have no interest in the m atter except as a citizen o f the cotton -p ro
ducing cou ntry who wants to see the com m odity bring the highest legitimate
p iicc. I have made an earnest study o f this question, and I can, with
som e claim to authority and with the support o f absolute conviction, warn
the advocates o f this bill that If they make it a law they will legislate directly
against the price o f cotton , and consequently against the welfare of the
'r , cotton producers have had enough adversity to contend with
without being assassinated b y the hands o f their alleged political friends. I
want the farmers— the ones who make the cotton, not the ones who make
the speeches to be fully advised o f the econom ic significance o f this legisla*.
tlon n order that they m ay flx responsibility should calam ity unhappllg
DCIdll.
—
t
The bill is similar to the Scott anti-option bill which was
passed by the House of Representatives in June 1910, but
failed of action in the Senate.
On the 17th inst. the House of Representatives also
passed the bill introduced by Representative Hughes of
New Jersey, authorizing the appointment of a commission
to inquire into the subject of industrial relations. The crealEon of the commission was advocated in a message sent to
Congress by President Taft in February. The commission is
to consist of nine members, to be named by the President,
not less than three of whom are to be employers of labor and
not less than three representatives of organized labor. The
inquiry will cover the causes of labor troubles and the general
relations existing between capital and labor. The bill carries
an appropriation of $100,000 for the fiscal year ending June 30
1913; the members of the commission are to receive $10 a day
in addition to traveling expenses incurred in carrying on their
work.
— A compromise agreement was reached by the Senate and
House conferees on the 17th inst. on the Rivers and Harbor
Appropriation Bill, and on the 18th inst. the conference
report was adopted by the Senate. The bill in its present
form carries an appropriation of $6,000,000 for levee work
along the Mississippi— a provision which had previously been
inserted by the Senate. The total appropriations in the bill
aggregate about $33,000,000.
— A bill amending the patent laws of the United States
was agreed to by the House Committee on Patents on the
18th inst. The principal features of the bill, as outlined by
William A. Oldfield, Chairman of the Committee, were given
in the New York “ Times” yesterday as follows:
First, it provides for com pulsory licenses. It will not apply to the origi
nal inventor, but only to those persons or corporations who buy up patented
articles for the purpose o f suppressing com petition
Second it provides that no purchaser, licensee or lessee o f any patented
article shall be liable for action for infringement o f the patent because o f
U n l l T s ^ ^ f° Ct' \ 19! 2 U 8haU be unlawful fo r a ny steamer o f the
United States or o f any foreign country navigating the ocean or the Great
Lakes, and licensed to carry or carrying 50 or m ore persons, Including pas
sengers or crew or both, to leave or attem pt to leave any port o f the United
States unless such steamer shall be equipped with an efficient apparatus
for radio com m unication, in good working order, capable o f transmitting
and receiving messages over a distance o f at least 100 miles day or night.
An auxiliary power supply, Independent o f the vessel’s main electric
power plant, must be provided, which will enable the sending sot for at least
four hours to send messages over a distance o f at least 100 miles, day or night
and efficient com m unication between the operator In the radio room and
the bridge shall be maintained at all times.
• 1 he radio equipment must be in charge of two or m ore persons skilled
in the use o f such apparatus, one or the other of whom shall be on duty
! , l T ? , whUa the vessel Is being navigated. Such equipment, operators,
the regulation of their watches and the transmission and receipt o f mes
sages, except as m ay be regulated b y law or International agreement shall
be under the control o f the master, in the case o f a vessel o f the United
States; and every wilful failure on the part o f the master to enforce at sea
the provisions o f this paragraph as to equipment, operators and watches
shall subject him to a penalty o f $100
That the provisions of this section shall not apply to steamers plying be
tween ports or places less than 200 miles apart.
Sec. 2. That this A ct, so far as It relates to the Great Lakes, shall take
effect on and after A pr. 1 1013, and so far as It relates to ocean cargo stcam takf. Cffe? ‘ on and aftcr Jldy 1 1913- Provided, That on cargo
he snhstif .tori «
the. seco" d operator provided for in this A ct, there m ay
be substituted a member o f the crew or other person, w ho shall be duly
standedlsatredssCc a ^ r lo, n !h ° Sh‘ P’S ‘ ° g as co,n ',(;tcnt to receive and undcrm am tatnlnTa
1,SUal calls indlcatlnS danger, and to aid In
maintaining a constant wireless watch so far as required for the safety of
-—The report of the Commission on Economy and Efficiency
on “ The Need for a National Budget” was transmitted to
Congress by President Taft on June 27. The subject, the
President points out, is one of fundamental importance
to the Executive as well as to Congress. He says:
Notwithstanding the magnitude and com plexity of the business which is
each year conducted b y the executive branch and financed by the Congress
^ ' hlenp 'tna,!.re'h t^bn which each Governmental activity bears to the welfare
o f the people, there is at present no provision for reporting revenues, ex
penditures and estimates for appropriations in such manner that the E x
ecutive, before submitting estimates, and each member o f Congress and
the People, after estimates have been submitted, may know what has been
done b y the Government and what the Government proposes to do.
The purpose of the report, the Message says, is to suggest
a method whereby the President may lay before the Congress
and the Congress may consider and act on a definite business
and financial program; to have the expenditures, appro
priations and estimates so classified and summarized that
their broad significance may be readily understood; to pro
vide each member of Congress, ns well as each citizen who is
interested, with such data pertaining to each subject of
interest that it may be considered in relation to each question
of poli y which should be gone into before an appropriation
foi expenditures is made; to have these general summaries
supported by such detail information as is necessary to
consider the economy and efficiency with which business
has been transacted; in short, to suggest a plan whereby the
President and Congress may co-operate— the one in laying
befoie Congress and the country a clearly expressed ad
ministrative program to be acted on, the other in laying
before the President a definite enactment to be acted on by
him. The recommendations contained in the report are
approved by the President and he suggests to Congress the
enactment of the legislation necessary to put them into effect.
■ ^ ie report of the Federal Bureau of Labor on the in
vestigation into the strike'early in the year of the Lawrence,
Mass., textile mill workers was sent to the U. S. Senate by
Charles P. Neill, United States Commissioner of Labor on
the 1st inst. The report attributes the strike to the passage
of a State law reducing the weekly hours of labor from 56 to
54 hours and the failure of the mill managers to readjust
the pay per hour and per piece so as to prevent a reduction
in the week s earnings of the employees. The report says:
"T h e serious nature o f the trouble which threatened the mills was not
appreciated b y the mill managers. In view o f the large num ber o f non
English-speaking operatives Involved in this matter, and o f their cxcitablo
nature and the possibilities o f damages and serious disorder If they became
J
u l y
2 0 1 8 1 2 .]
THE CHRONICLE
thoroughly aroused under the spirit o f unjust or oppressive treatm ent, It
seems strange that this matter should have been allowed to drift along to
the first pay-day without any effort being made to reach some agreement
that would have prevented the outbreak.”
15 1
It is believed that there are few Instances where the examining com m ittee
cannot, If they will take the necessary tim e, cover these points fully and
satisfactorily.
An exam ination twice a year, along the above lines, by a com m ittee of
the directors who will give sufficient time to the work to make it thorough
and com plete, cannot fail to be of great benefit to all concerned, and this the
directors owe to the shareholders who have placed them in their positions
of trust.
LAW REN CE O. M U R RA Y .
Comptroller.
The report is also said to state that in order to live, the
father of a family must add either his wife or child to the
mill’s roll of wage earners, and that the average pay received
by 21,000 employees during a week late in 1911 was $8 70,
— Definite plans for the formal organization of the Invest
this being probably reduced during the other weeks by lack
of work. No recommendations are contained in the report. ment Bankers’ Association of America have been completed
— In order that there may be uniformity in the reports and a meeting for that purpose will be held in New York at
of the examining committees which all the national banks the Waldorf-Astoria on Aug. 8 instead of Aug. 12, as here
except those in the reserve cities have been recpiested to fur tofore announced. On July 17 Secretary Fenton of the
nish (he Comptroller of the Currency, Mr. Murray has drafted organization committee sent out a letter to banks and bankers
suggestions to be forwarded to the directors for the use of the requesting that they arrange to have properly authorized
examining committees in conducting the examination. representatives at this meeting. A copy of the proposed
These suggestions are outlined in a circular issued by the constitution was enclosed with this letter. Geo. B. Caldwell,
Comptroller’s office on the 9th inst., a copy of which is an Vice-President of the Continental & Commercial Trust &
Savings Bank of Chicago, Chairman of the Organization
nexed.
Committee,
says that responses on the part of tho most sub
On June 1 the Comptroller of the Currency requested the boards of di
rectors of the national banks to send to this office a cop y of the reports of stantial houses the country over have been very favorable
the annual or semi-annual examinations made by the examining com m ittees and that there is no doubt that the Association will be suc
or by other parties at the instance of the directors.
While the Association will, at first, be
A review of the reports that have been received shows that m any of these cessfully organized.
examinations arc deficient In their scope and that many features essential comparatively small, the character of its membership will be
to a thorough understanding of the bank’s atralrs arc not covered. A num such as to insure its continuance and future growth.
An
ber of the States have provided by law for reports by the exam ining com
mittees of State banks to the State banking department. T hey require outline plan of the proposed functions of the organization has
in general an examination into the books, papers and airairs of the bank, been prepared and will be submitted for consideration at the
and particularly Into the loans and discounts, with detailed statements of
forthcoming meeting. It is proposed that a permanent
all losses estimated and any irregularities discovered, and in these States a
bureau of information be maintained with which will be filed
form of report has been prepared for that purpose.
It is not the Intention of this office to prescribe a form for the directors complete data of all bond offerings made by members of the
to use in making such examinations and reports, but the following sugges
Association. Bulletins of such offerings will be issued from
tions are made as to the general points that should be covered:
(1) The cash should be counted and the total com pared with the books time to time by this bureau, and its files will at all times be
o f the bank. Cash items should be carefully scrutinized, and any improper available to Association members.
Mr. Caldwell further
items, such as unposted checks held for the purpose o f not showing over
drafts, and other items that can not be readily converted into cash, should states that there has been an unquestioned need for greater
co-operation on the part of investment bankers and that an
be reported.
(2) The bonds and other securities of the bank should be exam ined and organization of this character will prove of great value to its
those not on hand should be verified by reference to the receipts o f the
parties with whom they arc deposited, and if the receipts arc old they should members; more especially so as an independent association,
be verified b y correspondence. The market value and the am ount at since both its funds and the energies of its officers and com
which carried on the books in the aggregate should be shown, and any stocks mittees can be directed exclusively to the particular nee is of
held by the bank should be listed, with a statement showing the reason the
the investment department of banking. A regular meeting,
securities were taken by the bank.
(3) The notes should be carefully checked and their total com pared with or convention, of the Assoication will be arranged for at the
tlic general ledger. The genuineness, value and security of each note, and
organization meeting, to be called probably in October.
o f any collateral thereto, should be carefully determined, and any losses
ascertained or probable, in the Judgment of the com m ittee, should be noted.
The liabilities of cacli of tho larger borrowers, and loans to affiliated inter
ests, should be aggregated and carefully considered. The report should
also show tlie general character of the loans— whether well distributed: the
general character of the collaterals; whether corporations in which officers
or directors are interested borrow to an undue extent; also any large lia
bilities of the officers or directors. It should also be shown whether all
paper claimed b y the bank as Us own property, including collaterals, is
properly indorsed or assigned to it, and all mortgages recorded. A ny loans
exceeding 10% of the capital and surplus of the bank should be reported.
The signatures of all note makers and indorsers should be carefully scru
tinized, and any erasures and alterations or any indications of manipula
tion should be carefully Investigated and reported to the full board. All
overdue paper should be listed and com m ent made as to its collectibility.
(4) The certificates of deposit and the Cashier's checks should be verified
by totaling those outstanding as shown by the register and com paring with
the general ledger, and also by com paring the canceled certificates and
checks with the register and checking them against the stubs.
(5) The cop y retained by the bank of the report of condition made to the
Comptroller at the last call should be com pared with the bank’s books at
that date, particularly with reference to the excessive loans and directors’
and officers' liabilities reported to the board of directors.
(0) The bank's last reconcilements of accounts with correspondent banks
should be com pared with tho bank's books, and a transcript of the bank's
account from the date of the last reconcilement to the date of the examina
tion sent to the Correspondent bank with a request for verification.
(7) Individual ledger balances should be verlfieil in such manner as the
directors m ay deem advisable, by calling in pass books, by sending out
reconcilements of certain accounts selected b y the directors, or in some
other suitable way. A trial balance of the ledger should be taken b y some
member of the com m ittee, or at least by some person other than the clerk
engaged on the ledger.
(8) Overdrafts should bo totaled and carefully considered, and the report
should show any estimated losses.
(0) The com m ittee should consider carefully the “ profit and loss” and
the "exp ense” accounts, with a view of determining whether the charges
against those accounts arc proper, whether the earnings of the bank warrant
the expense charges, and whether the bank is making a legitimate profit.
(10) The examining com m ittee should Inquire carefully into the arrange
ment of tho working affairs of the bank and ascertain whether any employee
who keeps the individual ledger receives deposits or balances pass books;
and whether tho employees arc properly bonded, and In whose custody the
bonds are lodged.
(11) A n y liability of the bank for borrowed m oney should be listed, and
the proper authority and tho necessity for sucli borrowing ascertained. The
total amount of the present liabilities of that nature should be reported to
the board, including m oney borrowed from other banks on certificates of
deposit.
The report of the directors or the examining com m ittee should show that
these points have been covered, and should recite any deficiencies discov
ered .
The report should also contain a com plete statement of the total assets
and liabilities of ttio bank, with any additions or deductions that in the
Judgment of the directors should be made as a result of their investigation.
There should also be Included a detailed statement of the loans which the
directors cstlm ato as worthless, doubtful or Insufficiently secured, giving
reasons therefor, and as nearly as possible the real value.
A statement should also be made of any matters which in the opinion of
the com m lttco affect in any way the bank’s solvency, stability or prosperity.
— The plans of the New York Central Lines in connection
with the Thirty-Eighth Annual Convention of the American
Bankers’ Association, to be held in Detroit Sept. 9 to 14,
with respect to its special tour to Yellowstone Park, Salt
Lake and the Colorado Rockies, have been further developed
since our announcement of June 15. This tour has been
arranged at’ the request of a large number of bankers and
friends who took part in the trip to Los Angeles and through
the Canadian Rockies in 1910. The special train, known as
“ The Red Section,” will leave New York Saturday, Aug. 24,
and stop at important cities throughout the State. The
special will proceed direct to Yellowstone Park via Chicago
and St. Paul, making the usual tour in the Park, visiting
Mammoth Hot Springs, The Fountain Hotel, Old Faithful
Inn, Colonial Hotel (Yellowstone Lake), New Canyon Hotel
and Norris and Geyser Basin, leaving the Park at the western
gateway (Yellowstone), thence to Salt Lake City, where a
brief stop will be made to visit the principal points of interest;
the route will continue over the Denver & Rio Grande to
Glemvood Springs, through the Royal Gorge to Colorado
Springs, making the usual side-trips to Manitou, Garden of
the Gods, Crystal Park, &c., thence to Denver. Returning
from Denver the special train will arrive at Detroit about
4 p. m. Sunday, Sept. 8, in ample time for the convention.
At the close of the convention the party will leave Detroit
Saturday, Sept. 14, on the new steamer City of Cleveland,
of the Detroit & Buffalo Navigation Co., for a trip across
Lake Erie, arriving at Buffalo about 8 a. in. Sunday, Sept. 15,
and continuing by special train to New York City, reaching
there about 6 p. m. Sunday. The cost of the entire trip
will be 8250 and includes round-trip Pullman accommoda
tions, all meals en route, hotel accommodations and"expenses
in Yellowstone Park; in fact, all expenses except hotel
accommodations during the convention at Detroit and state
room in steamer from Detroit to Buffalo.
The New York Central Lines have also arranged for two
other tours as follows: “ B ,” The White Section; special
train will leave New York 8:30 a. m. Saturday, Sept. 7,
arriving at Buffalo 6 p. m.; thence by Detroit & Buffalo
Navigation Co.’s new palatial steamer City of Detroit III.
to Detroit, arriving 10 a. m. Sunday, Sept. 8. The return
will be made by special train direct to New York, leaving
Detroit Friday midnight, Sept. 13, and arriving in New York
152
THE CHRONICLE
p. m. Saturday, Sept. 14. Tour “ C,” The Blue Section;
for the convenience of those desiring to make the round trip
between New York and Detroit as quickly as possible a fast
schedule has been arranged as follows: Special train to leave
New York Sunday, Sept. 8, 5 p. m., as a section of the famous
“ Wolverine,” arriving in Detroit 7:15 the next morning.
Returning, special train will leave Detroit, midnight Friday,
Sept. 13, arriving New York 3 p . m. Saturday, Sept. 14. A
handsomely illustrated itinerary covering all of these tours
will be sent upon request to W. Y. Lifsey, General Eastern
Passenger Agent, 1216 Broadway, New York.
[ V o l . L/XXXXV
dend, payable out of the surplus and profits, which exceed
$12,000,000. Each shareholder will receive one-seventh of
his present holdings, and those not wishing to increase their
interest will receive in cash a dividend of 14 2-7% . The
stockholders will meet to approve the issuance of the new
stock on Aug. 20, and it will be distributed Sept. 30 to share
holders of record Sept. 9. The stock of the company (par
$100) was quoted at $600 this week. The capital of the
institution was increased from $4,000,000 to $4,375,000 at
the time of the merger with it of the Manufacturers’ Trust
Co. in 1903.
H . E . Pollard of the Mechanics’ & Metals’ National Bank
The stockholders of the Irving National Exchange Bank
of New York has been appointed a National Bank Examiner of this city approved on Thursday the proposal to change
in the New York district.
the name of the institution to the Irving National Bank.
— Elliot H. Goodwin of New York has been appointed This movement was indicated in our issue of June 22, when
Secretary of the new Chamber of Commerce of the United we reported the ratification of the merger of the Mercantile
States, and D. A. Skinner has been appointed Assistant Sec National with the Irving.
retary of the organization, the President of which is II. A.
— The following new directors have been elected to the
Wheeler of Chicago. Mr. Goodwin is Secretary of the Na board of the Columbia-Knickerbocker Trust Co. of this city.
tional Civil Service Reform League, while Mr. Skinner is John D. Barrett, Edward Cornell, James M. Gifford, Philip
Assistant Chief of the Bureau of Manufactures.
Lehman, Noah C. Rogers and Frederick W. White.
The order of the Court of General Sessions denying a
— The Empire Trust Co. at 42 Broadway, this city, pro
poses to increase its capital from $1,000,000 to $1,500,000. new trial to William R. Montgomery, former President of
A special meeting of the stockholders will be held on Aug. 1 the Hamilton National Bank of this city, was affirmed by
to authorize the issuance of the new stock. It is to be sold the Appellate Division of the Supreme Court of New York
at $300 per $100 share, thus permitting an addition of $1 _ on the 11th inst. He had been convicted of grand larceny
000,000 to the surplus and undivided profits, and increasing in the first degree in February 1911 and sentenced to not
that item to about $2,200,000. The new issue has already less than two years and two months nor more than five
been subscribed for by interests here and abroad, and these years and two months.
and other subscribers, to whom the company desires to allot
— H . Van Rensselaer Kennedy, a trustee of the Union
as many shares as possible, will, it is believed, according to Trust Co. of New York, the Farmers’ Loan & Trust Co. and
the circular of the institution, “ influence profitable business the New York Life Insurance & Trust Co., died on the 13th
and lend additional strength and importance to the company inst. at his country home at Hempstead, L. I. Mr. Kennedy
in its domestic and foreign relations.” The stockholders was a director also of the Degnon Realty, Terminal Improve
have therefore been asked to waive their rights to the addi ment Co. and the Land & River Co.
tional stock so that it may be sold to these persons and to
— An interesting brochure, designed to set forth briefly
such others as the directors may deem it best for the com the more noteworthy facts in connection with the
pany’s interests to offer it. In November 1908 the institu history of the Merchants’ National Bank of the City of New
tion increased its capital from $500,000 to $1,000,000, declar York, has just been issued for distribution to its friends.
ing at that time a stock dividend of 50%; the additional Organized in 1803, the bank antedates the War of 1812, the
50% was taken by the stockholders at 150 per share. Since Mexican War, the Civil War, and as a test of its strength
that time the deposits have risen from $12,000,000 to nearly and management it has endured prosperously through the
$20,000,000, and similar growth has occurred in the trust de panics of 1837, 1857, 1873, 1893, 1903 and 1907. Alexander
partment of the company. The contemplated addition to Hamilton was associated with the foundation of the then
the capital is designed to enable the institution to satisfac Merchants’ Bank of New York, and drew up the articles of
torily handle a further increase in its deposits and general association for the bank, which, on April 7 1803, were signed
business which would result from the consummation of plans by the directors and the organization effected. Oliver
now under consideration. It is understood that the direc Wolcott, Secretary of the Treasury during the Washington
torate is to be enlarged so as to give representation to the new and Adams administrations, was chosen its first President.
interests which are to come into the company.
1 he bank almost immediately began to pay dividends,
— As was indicated last week, William C. Potter, Presi
dent of the Intercontinental Rubber Co., has resigned that
position to accept a vice-presidency of the Guaranty Trust
Co. of New York. Mr. Potter is a native of Chicago, having
been born in that city in 1874, and is the son of Edwin A.
Potter, formerly President of the American Trust & Savings
Bank of Chicago. He finished his education at the Massa
chusetts Institute of Technology, graduating from that in
stitution with the class of 1897. By profession ho is a min
ing engineer and metallurgist. In 1900 he w’as appointed
mining engineer of the Atchison Topeka & Santa Fe Ry., and
from 1903 to 1905 was General Manager of the Guggenheim
Exploration Co. in the Republic of Mexico. Mr. Potter be
came General Manager and director of the American Smelt
ing & Refining Co. and the American Smelters Securities Co.
in 1905, and for the past year has been President of the Inter
continental Rubber Co. He takes with him to his new posi
tion a well-rounded experience as an executive and one which
should serve him in good stead in his new association.
J. Christy Bell has resigned as a Vice-President of the
National Nassau Bank of this city, in furtherance of his de
sire to be relieved of official duties. Henry C. Miller is a
new Vice-President of the bank, in addition to Laurence H.
Hendricks, whose election to a vice-presidency was noted
recently. Arthur W. Gilbert has been appointed Cashier of
the institution, to succeed W. B. Noble, who has become
manager of the safe-deposit vaults. The bank has recently
opened up the large connecting banking room in the building
next door and has located several departments on the floors
immediately above its public banking rooms.
— The directors of the Title Guarantee & Trust Co. of this
city have decided to increase the capital from $4,375,000 to
$5,000,000. The new capital will be issued as a stock divi
beginning Nov. 30 1803, and has continued the payments of
semi-annual dividends through all sorts of financial distur
bances down to the present day. When, in 1853, the New
York Clearing-House Association was organized, the Mer
chants’ Bank was among the first to join, always retaining its
original membership number (3). The Merchants’ Bank
reorganized under the National Bank Act in 1865 as the
Merchants’ National Bank of the City of New York. The
bank still has on its list of out-of-town correspondents banks
with whom cordial relations have been maintained for over a
century. The brochure also refers to many of the bank's
traditions, its independence and present-day policy to provide
every up-to-date facility for the conservative demands of
mercantile and commercial banking. The executive officers
are: Robert M. Callaway, President; Elbert A. Brinckerhoff
and Joseph W. Harriman, Vice-Presidents; Joseph Byrne,
Cashier; and the Assistant Cashiers are Albert S. Cox, Owen
E. Paynter and Frank L. Hilton.
— Wade Gard ner, New York agent for the Hong Kong
& Shanghai Banking Corporation, has received the following
advices by cable from the head office of the bank at Hong
Kong: “ Subject to audit, the bank dividend for the half-year
ended June 30 1912 will probably be about $10 per share;
added to silver reserve fund, $250,000; carried forward to
next half-year, $1,950,000; written off bank premises ac
count, $250,000.” The capital and reserve funds of the
bank now stand as follows (Hong Kong currency): Paid-up
capital, $15,000,000. Reserve funds: Sterling reserve,
$15,000,000; silver reserve, $17,000,000; carried forward
to next half-year, $1,950,000; reserve liability of proprie
tors, $15,000,000.
— Authority to increase its capital from $25,000 to $50,000
has been accorded the Oyster Bay Bank of Oyster Bay, L. I.,
J u l y 20 1912]
THE CHRONICLE
by the State Banking Department. Provision for the new
capital will be made through the declaration of a stock divi
dend of 1 0 0 % .
— Arthur L. Phillips has been elected to succeed the late
Jay S. Treat as Cashier of the Merchants’ National Bank of
Newark, N. J. Mr. Phillips entered the employ of the bank
as a boy in 1890; since 1905 he had been Assistant Cashier.
— Announcement was made last Tuesday of the full sub
scription to the new capital stock of the National Shawmut
Bank of Boston, making the capital $10,000,000, increasing
the same from $3,500,000. There are but three national
banks in the country with a larger capital— the National City
and the Bank of Commerce in New York and the Continental
& Commercial in Chicago. W ith a surplus of $7,300,000
and stockholders’ liability of $10,000,000, the total protec
tion for the accounts of Shawmut depositors is now $27,
300,000. In connection with the subscription, it is interest
ing to note that the number of stockholders is..increased by
93 to a total of 939. By far the majority of the new stock
was, therefore, taken by the old stockholders, and in many
cases their holdings were increased by the purchase of addi
tional rights. The National Shawmut Bank, with over
$100,000,000 gross assets, is to-day the largest financial insti
tution in all New England. Colonel William A . Gaston is
the executive head of its official management.
— Thomas B. Gannett Jr., a partner in the banking firm
of Parkinson & Burr, has been elected to the directorate of
the National Union Bank of Boston.
— The presidency of the Philadelphia Trust, Safe Deposit
& Insurance Co. of Philadelphia will be assumed on Oct. 1 by
Thomas S. Gates, Vice-President of the Pennsylvania Com
pany for Insurances on Lives & Granting Annuities. Pre
liminary to becoming chief executive of the first-named
institution Mr. Gates was elected to its board on Thursday.
Samuel Y . Ileebncr, who has been President of the Phila
delphia Trust since last January, is undex-stood tohave ac
cepted the office temporarily pending the election of a per
manent successor to Roland L. Taylor, who resigned last
December. Mr. Gates before entering the banking field was
engaged in the practice of law, and was at one time President
of the Law Academy. In 1906 he accepted the post of trust
officer in the Pennsylvania Company for Insurances and in
1910 he was made Vice-President.
At a meeting of the directors of the Philadelphia Trust,
Safe Deposit & Insurance Co. on the 11th inst., Samuel M.
Vauclain, Vice-President of the Baldwin Locomotive Works,
and J. Franklin McFadden of Geo. II. McFadden & Bro. were
elected to the board.
153
— W . Bernard Duke has been elected an Active Vice
President of the National Bank of Baltimore, at Baltimore,
M d., to take the place of Robert I I.Smith, who resigned be
cause of ill-health. Mr. Duke, who was already a director
of the bank, is President of the Duke-Peterson Co., hardware
merchants, and a director of the Second National Bank of
Towson, Md.
— John Cavanagh has been made Vice-President of the
German Savings Bank of Des Moines, Iowa.
— A rumor to the effect that the Central Trust Co. of Illi
nois and the State Bank of Chicago were negotiating with
a view to consolidation was denied by Charles G. Dawes,
President of the Centi’al Trust, on the 12th inst.
— The officers of the new Continental & Commercial Safe
Deposit Co. of Chicago, which will own the building the
Continental & Commercial National Bank proposes to erect,
are as follows: Pi’esident, Geoi'ge M. Reynolds; Vice-Presi
dent, Ralph Van Vechten; Secretai’y and Treasurer, Alexan
der Robertson; Assistant Secretai’y and Treasurer, J. R.
Chapman.
— In changes effected in the official staff of the Detroit
Trust Co. of Deti'oit on the 12th inst., Ralph Stone has been
elevated to a vice-presidency, an additional office of that
rank having been created for him. Mr. Stone, who had been
Secretary of the company, has also been elected a director
of the institution. He has been with it since the year of its
organization— 1901— entering the management as Assistant
Secretary. Coincident with his promotion last week, Charles
P. Spicer was chosen Secretai'y and Lawrence K . Butler was
made Treasurer to take the place of Howard J. Lesherr
resigned. Mr. Butler, like Mr. Stone, entered the service
of the Detroit Trust Co. in 1901, and since 1906 he had been
Assistant Treasurer. Mr. Spicer has served the company
since 1902 and had been Assistant Secretary since 1906.
— The Commercial National Bank of Waterloo, Iowa, it is
reported, will increase its capital on Aug. 1 from $200,000 to
$400,000; the surplus is to be increased at the same time from.
$50,000 to $100,000.
— The Colorado Bankers’ Association will hold its annual
meeting on Aug. 19 and 20 at Pueblo.
— An important consolidation is to take place in Kansas
City, M o., through the merger of the National Bank of Com
merce and the Southwest National. It will bring into being
an institution with deposits of over $29,000,000 and resources
of about 3 5 V2 million dollars, making it the largest banking
oi’ganization in the city. The consolidated bank will operate
under the name of the Southwest National Bank, and will
have a capital of $3,000,000— the total of that of the uniting— Edward Evans Moyer, a member of the Philadelphia banks— the National Bank of Commerce having $2,000,000
Stock Exchange firm of Moyer & Co., died on the 16th inst. of capital and the Southwest National a capital of S I ,000,000.
The firm, of which he was senior member, was organized It is proposed that the stockholders in the respective banks
shall cxcliange their holdings for an equal number of shares in
by him in 1906.
the succeeding institution, and no bonus, it is understood, is
— The proposed consolidation of the First National Bank
to be paid for stock in either bank. J. W . Perry, President
of Wilmington and the National Bank of Wilmington and
of the National Bank of Commerce, is to be President of the
Brandywine with the Wilmington Trust Co. was ratified on
enlarged bank, while F. P. Neal, President of the Southwest
the 18th inst. by the stockholders of the latter, who also
National, will be Chairman of the Board. The Southwest
at the same time endorsed the proposition to increase the
National was organized by Mr. Neal in 1908; he had previ
capital of the company from $300,000 to $1,000,000. The
ously been Vice-President of the Union National Bank of
arrangements under which the merger is effected were set out
Kansas City, which was absorbed in Nov. 1908 by the Na
in our issue of June 22.
tional Bank of Commerce. Under the call of June 14 the
— The directors of the Fidelity Title & Trust Co. of Pitts Southwest National had deposits of $9,687,962. The Na
burgh announce the following changes in the official staff: tional Bank of Commerce on the date mentioned had deposits
John M. Irwin, First Assistant Treasurer; Edward F. Strat- of $19,466,162. Thc’ consolidated institution will occupy the
man, Second Assistant Treasurer; W . A . Royston Jr., First quarters of the National Bank of Commerce in the New York
Assistant Secretary, and Frank T . Power, Second Assistant Life Building.
Secretary. The changes follow the recent advancement of
— Plans for the consolidation of the First National Bank
Eugene Murray from the office of Assistant Secretary and of Richmond and the National Bank of Virginia, at Rich
Assistant Treasurer to the post of Treasurer.
mond, ai’c under advisement. The pi’oposition, as it is now
— L. S. Johns, Assistant Cashier of the United States
National Bank of Pittsburgh, was elected Cashier of the insti
tution at a recent meeting of the directors, to succeed C. F.
being considered, calls for the merger of the two banks under
the name of the First National, the consolidated institution
to have a capital of $2,000,000 and surplus of $1,000,000.
Based on the figures in the latest reports of both institutions,
Schaefer, resigned.
— Thomas II. Sankcy has been elected President of the the deposits of the combined bank would exceed $13,000,000,
First National Bank of Birmingham (Pittsburgh) to succeed making it about equal in point of deposits to the new Fourth
and First National Bank of Nashville. If the Richmond
Daniel Beech, resigned.
— The withdrawal of the receivership of the Tri-County consolidation goes through, it is expected that the officers
Banking Co. of Pottstown, Pa., was authorized by the will be as follows: John B. Purcell, President; John M.
Dauphin County Court on the 9th inst. The bank was closed Miller Jr., Vice-President, W . M. Addison Jr., Cashier,
temporarily on June 11, pending an examination by the State and William M. Habliston, 'Chairman of the Board. Of
Banking Department. The stockholders are said to have these Mr. Habliston is President and Mr. Addison Cashier
been assessed the full amount of their holdings, and it is of the National Bank of Virginia; Mr. Purcell is Piresident
stated that the dcpositorsj[will be paid-in full. •, • •
»j of the First National_and Mr. Miller is Vice-President_and
154
THE CHRONICLE
Cashier of that bank. The First National has a capital of
$1 ,000,000 and an "earn ed” surplus of §1,0 00,0 00 , besides
$171,252 undivided profits and deposits (June 14) of
$7 ,305,882. The National Bank of Virginia on June 14
showed a capital of §1,200,000, surplus and profits of .§765,C59 and deposits of §5,911,742. In 1910 the Bank of
Richmond was consolidated with the National Bank of
Virginia.
[Voi,.
LXXXXV.
the outside market drew upon what, in the jargon of the
Bank of England, are called the "oth er” deposits to the
extent of £8 ,0 3 3 ,5 8 9 . In addition, it handed back to the
Bank of England the whole amount received from it in
the shape of interest upon the National Debt. It is not
surprising to find after such an operation that the outside
market is bare of supplies. In fact, on Thursday and
I1riday the outside market borrowed considerably from the
Bank of England, and it has also been renewing bills which
have fallen due.
— Action toward increasing the capital of the Citizens’ &
Southern Bank of Savannah, Ga., from §700,000 to $ 1 ,000 ,
000 was taken by the directors on the 10th inst. That plans
lrade throughout the United Kingdom is surprisingly
to this effect were pending was indicated in this department active. Thus, although the dock strike in London has
last week, in our reference to the consolidation of thebusiness lasted for so many weeks, the Board of Trade returns for
of the National Bank of Augusta, at Augusta, Ga., with that the month of June, which were issued on Monday last, show
o f the Citizens' & Southern. The stockholders of the latter that the value of the imports for the month amounted to
have until Sept. 4 to avail of their rights to the new stock, £ 5 0 ,66 8,1 35, a decrease of no more than £4 34 ,4 04 , or
which will be issued of date Oct. 1.
0 .8 % .
For the six months to the end of June the total
— Allan Sweat, heretofore Assistant Cashier of the Ogle value of the imports amounted to £353 ,9 95 ,222 , being
thorpe Savings & Trust Co. of Savannah, was elected its an increase of £1 9,87 2,2 46, or 5 .9 % . Coming next to the
Cashier on the 9th inst. to Succeed John M . Bryan, resigned. exports, we find their value for the month was £3 4,97 2,3 31,
— At a meeting of the directors of the Commercial National showing a decrease of £ 1 ,140 ,81 9, or 3 .1 % , while for the
Bank of Macon on the 9th inst. the question of increasing the whole six months the value of the exports was £2 25 ,3 13 ,045 ,
capital from §200,000 to §300,000 was favorably passed upon. being an increase of £1 ,6 4 4 ,7 4 8 , or 0 .7 % . That the dock
The capital was raised from §125,000 to §200,000 last year| strike should exercise a greater effect upon the exports than
the additional stock having then been sold at 120; this will upon the imports was expected as it has not been found
also be the selling price of the present issue, which is offered as easy to load the one as to unload the other. But the
pro rata to the existing shareholders. The bank’s building is really surprising thing is that a strike which has been so
to be enlarged to an eight-story building with the addition obstinately protracted and has affected so many persons
should have had so little effect upon the trade of the country
o f three new floors.
even during the month. Moreover, the great coal strike
— Frank O. W atts, formerly President of the First National broke out at the end of February and lasted well into
Bank of Nashville, and now Chairman of the Board of the April, and yet with two such strikes, not to mention minor
Fourth and First National Bank of that city, entered upon labor disputes, the trade of the country for the six months
actually shows an increase both in imports and in exports.
his duties as a Vice-President of the Third National Bank
The news from India and from Australia alike this week
o f St. Louis on the 11th inst,
is very satisfactory. Up to the present week there was
—I he Commonwealth trust Co. recently began business in
Houston, Tex., with a capital of §500,000. It conducts a
general banking and trust business, and its field also em
braces real estate and land title guaranty features. W . E .
Richards is President.
’the National Bank of Commerce of Houston, Tex.,
newly organized, and referred to in our issue of June 29,
opened for business on the 15thinst.in the quarters formerly
occupied by the Commercial National Bank (which was con
solidated early in the year with the South Texas National)
at Main and Franklin streets. The new bank has a capital
of §500,000. The following constitute the management of
the institution: O. T . Holt, President; James H . Adair and
Richard D. Collins, Vice-Presidents, and J. M. Logan, Vice
President and Cashier.
— Robert A . Smith, a partner in the banking firm of Osier
& Hammond of Toronto, and a former President of the
Toronto Stock Exchange, was killed in an automobile acci
dent on the 17th inst. Mr. Smith was also Vice-President
of the Canada Saskatchewan Land Co., L td ., a director of
tho'Commercial Cable Co. and a trustee of the Mackay Co.
— The semi-annual statement of the National Discount C o .,
Limited, of London, shows gross profits for the half-year of
§1,0 43,0 08 . The usual six months' dividend at the rate of
1 0 % per annum was declared, calling for §211,666, and after
various deductions there was a balance of §106,549 carried
forward to next account. The deposits June 30 stood at
§76,725 ,00 0. The complete statement appears in our ad
vertising columns.
. — The Union Discount Co. of London has issued its semi
annual statement. The gross profits for the half-year were
§1,2 17,5 92 . The reserve fund was increased §75,000 to
§3,2 50,0 00 . A dividond for the half-year at the rate of 12 %
per annum was declared and §408,259 was carried forward
to next account. The statement will be found in detail in
■our advertising columns.
13 1912.
t is not often that a return of the Bank of England shows
uch remarkable changes as are exhibited by that issued on
Thursday of this week. For example, the "oth er” securities
in the Banking Department decreased in the week ended
Wednesday evening by the enormous sum of £1 1,821,503,
which means that the outside markot ropaid to the Bank of
England not far short of twelve millions sterling in loans and
discounts. To effect this great repayment in so shortatime,
London,
Saturday,
1912.
July 10.
£
29,566.270
17,891,765
40,355.438
13.983,707
33.003,853
29,272,207
40,388,477
1911.
July 12.
£
29,285.030
9,278.015
47.908,925
14,967,286
30.382,639
29,821,666
40,656,696
1910.
July 13.
£
28,550,075
19,518.339
42,675,836
17,970.057
30,904,278
31,202,832
41,372,907
1909.
July 14.
£
29,939.405
8,377,398
48,130,035
15,305,672
29,549,800
29,541,587
41,000,992
1908.
July 15.
£
29,751,200
5,324,526
47,802,939
15,227,299
29,1 11,232
26,603,999
37,823,994
Circulation-----------Public deposits___
Other deposits........
Oov’t securities----Other securities----Reserve.notcs&coin
Coln&bull..both dep
Prop, reserve to liabilities..........P. c.
50 5-16
52 M
50 M
5241
50%
Bank rate........ p. c.
3
3
3
2%
2%
Consols, 2% P. c __
75 11-16
84 3-10
78 y»
82 1-16
88 1-16
S ilver..................... 28 l-16d.
23 7-1 Od.
24%d.
25(1.
24 %d.
Clear .-house returns 293,243.000 262,064,000 259,255,000 279,818,000 253,199,000
The rates for money have been as follows:
(Erom our own correspondent.)
'
much anxiety felt regarding tlie Indian Monsoon. It broke
at Bombay about the middle of June. But the rainfall has
been inteimittent and not heavy since, while in the interior
of the country there was very little fall. People were,
therefore, growing apprehensive. Happily this week the
news is reassuring. Good rains have fallen all along the
western coast, in the Punjab, and even far inland; while
along the eastern side of India the rains all along have
been good. It is now hoped generally that the danger of
drought is averted and that the monsoon will prove very
satisfactory. If it does, it will ensure another properous
year to India, and large trade with this country.
The news from Australia is equally gratifying. Rains
have been very abundant ever since the 10th of June in all
parts of the island continent. The news received is entirely
by telegraph, and, therefore, the actual details given are
few.
1 he one point that we should like to be sure of is that
the weather is not very cold. Rains at midwinter if the
temperature is warm do an immense amount of good. But
if there are frosts, rain may do more harm than good. Until,
therefore, letters and newspapers are received it is not
possible to judge accurately of the effect of the rains. But
as none of the telegrams refer to cold it is hoped that the
weather has remained warm, and that, therefore, the danger
of drought is completely at an end.
The India Council offered for tender on Wednesday 50 lacs
of its bills and telegraphic transfers and the applications
exceeded 590)<f lacs at prices ranging from Is. 4d. to
Is. 4 l-10d. per rupee. Applicants for bills at Is. 4 1.32d.
and for tejegraphic transfers at Is. 4 l-10d. per rupee were
allotted 3 5 % of the amounts applied for.
The following returns show the position of the Bank of
England, the Bank rate of discount, the price of consols,
&c., compared with the last four years:
J u ly
Bank of England rate..........
Open market rate—
Bank bills—3 months___
—4 months___
—6 months___
Trade bills—3 months___
—4 months___
Interest allowed for drposltaBy Joint-stork hank3........
By discount houses—
At call............................
7 to 14 days....................
July 12.
3
15-1(1® 3
5 3-16® 3%
3 9-16
3%
3%
July 5.
3
June 28.
3
2 13-10
2 Vx
2%
2 15-16
3%
3%
3% @3 }*
3H
3'A 0 3 %
3 'A
June 21.
3
2% @2 15-10
2 15-10 @3
3 5-10 @ 3 %
3% @ 3%
3% © 3%
1%
IH
1H
lH
1%
2
m
2
m
2
IK
2
The bank rates of discount and open market rates at the
chief Continental cities have been as fo llo w s :............................
THE CHRONICLE
J u l y 2 0 1 0 12.]
Rates ol
Interest at—
Paris........................
Berlin......................
Hamburg................
Frankfort..............
Amsterdam ........
Brussels ................
Vienna ..................
6t. Petersburg___
Madrid....................
Copenhagen............
June 29.
Julu 6.
Bank Open
Dank Open
Rate. Market. Rale. Market.
2%
2%
3
3
i'A
4 'A
iA
3'A
4 'A
4 'A
3A
iA
4!
4 'A 3 5-16
4 'A
4
3%
4
3%
4
3%
■i'A
4
5
i'A
4A
nom.
5
nom.
5
4
4
i'A
iA
5
5
5
5
June 22.
Bank Open
Rate. Market.
3
■2%
i'A
i'A
in
i'A
i'A
i'A
4
3 Vs
4
3A
5
i'A
nom.
5
4
i'A
6
5
June 15.
Bank Open
Rate. Market
3
2A
i'A
i'A
i'A
i'A
iA
i'A
4
3A
4
3A
5
i'A
5
nom
4
4A
5
5
Messrs. Pixley & Abell write as follows under date of
July 11:
GOLD— £751,000 In bars have arrived during the past week. The Indian re
quirements have again been small, amounting to £72,000 only. The Continental
demand has also been very light, and the Dank of England Is receiving the balance
of probably about £000,000. Egypt is still sending sovereigns to India, but this
week’s shipment amounts to £75,000 only, while in addition Australia has sent
£150,000 to the same quarter. At the Bank £822,000 has been received in bar gold,
while France has sent £7,000 In sovereigns, Uruguay has taken £400,000 in sover
eigns and Argentina £50,000 in German .gold coin. Next week we expect £712,000
from South Africa and £72,500 from Bombay. Arrivals: South Africa, £721,500:
West Indies, £7,500; New Zealand, £22,000: total, £751,000. Shipments: Bom
bay, £55,500.
SILVER.—The market has again been quiet and dull during the past week and
the closing quotations arc A d . lower than those of .the 4th Inst., at 27 15-10d. for
spot and 28 l-16d. for forward. At the close the tone Is far from strong. A little
life was galvanized into the market on the 9th Inst, when the Indian bazaars, en
couraged by better rains in Central India and by a fall of 11 lacs in the holdings of
rupees by the Treasury, sent a few buying orders, but this support has now been
withdrawn and the tone of the market is again listless and dull. The official esti
mate of the yield of the new Jute crop in India is 10 millltm bales, which shows an
increase of about 1,700,000 bales on that of last year. The China banks have taken
little interest in this market. The low exchanges in China have prevented them
from buying here, while they have been able to sell but little. Stocks in Bombay arc
now 10 000 bars, while the daily offtake is reported at 50 bars. In London the
stocks are now estimated at £3,200,000. The latest quotation from Bombay is
Rs. 71% per 100 tolahs for the September settlement. Arrivals: New York, £280,
000; West Indies, £7,500: New Zealand, £6,000: total, £293,500. Shipments:
Bombay, £127,500.
The quotations for bullion arc reported as follows:
GOLD.
London Standard.
Bar gold, fine, oz__
U. 8. gold coin, o s ..
German gold coin, ob
French gold coin, oz
Japanese yen..........
July 11.
s. d.
. . . 77 9
. . . 76 4
. . . 76 4
. . . 76 5 A
. . . 76 4
July 11.
Jtly 4.
SILVER.
8. d.
it.
London Standard,
77 9
Bar silver, One, o z .. ..27 15-16
“ 2 mo. delivery.. ..28 1-16
76 4
Cake silver, oz........ 30 3-16
76 4
76 5 A Mexican dollars___ ..nom .
76 4
July 4.
d.
28 3-16
28 5-16
30 7-16
nom.
The following shows the imports of cereal, produce into
the United Kingdom during the season to date, compared
with previous seasons:
IMPORTS.
Forty-three weeks.
1911-12.
1910-11.
Wheat .............. .................. -Cwt-81,025,100
80,680,300
Barley ________________
-18,795,900
17,196.700
Oats_____ ______
14,108,700 13,132,700
Peas............ ........... ........... ......... . 4,597,792 1,919,987
B ean s...............
936,580
596,457
Indian corn........ ..........
23,814.200 36,139,700
F lo u r _____ _______ ___________ 8,392,900 8,510,600
1909-10.
87,259,340
20,306,100
16,808,700
2,044,086
1,943,921
29,482,858
9,777,251
1908-09.
73,561,000
18,924,300
12,100,800
1,295,580
1,038,680
29,726,300
9,614,000
Supplies available for consumption (exclusive of stock on
September 1):
1911-12.
Wheat imported____________cwt.81,025,100
Imports of flour_________________ 8,392,900
Sales of home-grown............
22,408,141
1910-11.
1909-10.
80,680,300 87,259,340
8,510,600 9,777,251
21,338,953 24,844,305
1908-09.
73,501,000
9,614,000
25.147,696
Total .......... ................... ........ 111,826.141 110,529,853 121,880,896 108,322,696
Average price wheat, w eek........... 37s. lOd.
31s. lOd.
29s. 4d.
42s. 8d.
Average price, season........ ...........
34s. 4d.
30s. 9d.
32s. 8d.
35s. 2d.
The following shows the quantities of wheat, flour and
maize afloat to the United Kingdom:
This week. Last week.
Wheat
..................................qrs- 3,160,000 3,265,000
85,000
115,000
Flour, equal to...... ............ --.q r s .
Maize _______________
qrs. 1,220,000 1,160,000
1910-11.
3,030,000
135,000
700,000
1909-10.
2,870,000
120,000
705,000
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:
London.
Mon.
Tues.
Wed.
Sat.
Thurs.
Frl.
Week ending July 19.
27 A
27 13-16
Silver, per o z . . . ................d - 27H
27 H
2754
2754
74 1-16
Consols, 2 A Per cents____ - 75%
75 1-10 75
74 54
74«
For account........ ............ - 75 A
75 1-16 74 13-16 74 11- 16 7454
75 A
French Rentes (In Paris). fr . 92.30
92.25
92.10
92.25
92.1754
Amalgamated Copper Co___ - »2 X
8554
82% ~ 8454
8354
8454
Amer. Smelt. & Ref. Co___ - 83 A
84 A
84
85
8554
83 A
ftAnaconda Mining Co........ .- 8W
854
8A
854
HA
854
Atchison Topeka & Santa Fe.llOU
110 A
110 A
11154
11054
11154
Preferred . . ..................... 105^
10554
105 A
10554
10554
10554
Baltimore & Ohio................ . 111 ** 111
112
112
lllH
11154
Preferred.......................... . 90
90
90
90
90
90
Canadian Pacific................. .271
270 A
272 J4
27254
27154
27254
Chesapeake & Ohio----------- ■ 8U4
82
81A
8354
8254
8354
Chicago Great Western-------• 16 A
10A
17
1754
1754
1054
Chicago Mihv. & St. Paul....102 A
103
105
10454
10354
10354
Denver & Itfo Grande..........■ lo A
19 A
1054
19 54
19 54
1954
30 A
Preferred..........................
3654
3654
3054
3654
3 iA
35
3554
3554
3554
52 A
54
52 A
First Preferred................. ■ 52 A
53 54
5354
43
43
44
44
Second Preferred............. . 43
4354
137
11.".
141
Great Northern, pref----------.137
13854
13954
130J4
133
13154
Illinois Central.....................
13254
13354
102 A
164
161
Louisville & Nashville-------- .161A
104 54
16454
27
Missouri Kansas & Texas.... 27 A
2754
2754
2754
2754
62
61
61
. 61
Preferred .....................
6154
0154
36
37
37
3654
Missouri Pacific.... ......... .. . 36
3754
69
65)
69
69
69
69
Nat. R R . of Mcx., 1st Prof...
3254
31V*
Second Preferred............. 31A
3254
3254
3254
11054
117
N. Y. Central & Hudson---- -116 A
11054
118
11754
34
N. Y. Ontario & Western.... 33
3354
33 A
3354
3354
Norfolk & Western________ M 8 A
120
11954
11954
U SA
11954
Preferred................. .........- 89 A
8954
123
123 ”
Northern Pacific..
1 25 "
.122
122A
12554
oPcnnsylvanla . .
63 A
6354
6354
6354
63 54
■ C,3A
oRcading_________
8454
83
8354
8354
8454
. 82H
oFIrst Preferred__
46
46
46
46
45 A
- 45 A
aSccond Preferred......... .. 49
Rock Island.........................- 24 A
25"
25"
24J4
2454
2154
Southern P a d 6 c................. .-11 I'A
112
113
113
11154
111A
Southern Railway.............. .- 20A
20 A
2954
2954
2954
2954
Preferred......................... .- 78 A
79
79
78 A
7954
7954
Union Pacific------------------- •169 A
169 J4
17254
16954
172 54
17054
Preferred................. .........9254
92 A
9254
9254
9254
72
U. S. Steel Corporation------ . oo A
72
70 A
7054
7154
114
11454
Preferred......................... .114
114*4
114 A
11454
W abash............................... 454
454
454
454
454
14
Preferred ............... .......... - 14 H
1454
1454
1454
14 54
70
71
Extended 4s...... ........... . - 70 A
70 A
71
7054
a Price per share.
» £ sterling.
155
to m m cvcial aud f$£tecjeltaneons
Breadstuffs Figures brought from Page 186.— The s t a t e
ments below are prepared by us from figures collected by'
the New York Produce Exchange. The receipts at Westerri
lake and river ports for the week ending last Saturday and
since August 1 for each of the last three years lias been:
Receipts at—
Flour.
Wheat.
Com.
Oats.
Barley.
Rye.
hbls.lOOlbs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bushAWbs bu. 56 lbs .
Chicago___
82,999
03,600
1,411,600
40.500
7,500
1,618,650
Milwaukee..
35,200
121,640
201,600
45.500
87,400
8,806
Duluth____
17,705
219,801
28,226
628
279
Minneapolis.
589,330 " 162,620
8,230..
128,480
28,000
T oledo........
190.000
41,300
19,500
1T00O
Detroit........ " " 5 ‘,666
7,000
37,000
41,800
Cleveland . .
910
8,824
30,112
38,604 " ’ "5 6 6
St. L ouis...
34,640
344,400
355,300
212,460
2,632
V .io o
P eoria____
41.800
10,000
185,017
124,100
23,300
Kansas City.
684.000
102,000
219,600
Total w k .’ 12
Same wk. ’ l l
Same wk. ’ 10
218,254
284,850
250,701
2,102,415
8,418,687
3,019,571
2,451,210
2,256,274
2,204,519
2,766.239
2,631,294
2,206,-305
141,060
230,025
622,850
26,909'
21,838
53,301
Since Aug. 1
1911-12... 12,104,935 136,648,017 193,240,709 146,704,627 31,50S ,090 7,936,32 6*
1910-11__ 15,338,542 210,902,392 371,843,971 185,850,389 63,011,981 5,137,686
1000-10__ 19,551,620 242,950,079 178,887,469 86,998,127 79,905,527 6,767,506-
Total receipts of flour and grain at the seaboard ports fo*
the^week ended July 13 1912 follow:
4
Flour,
Receipts at—
bbls.
New York______ .. 106,334
B oston_________ .
25,355
Philadelphia___ .
25,611
Baltimore............ .
14,889
New Orleans*...
14,888
Galveston______
Montreal_______ ". 60,924
St. John.............. .
560
Wheat,
bush.
528,000
311,666
182,817
331,447
1,200
49,000
1,050,201
Corn,
bush.
307,375
3,085
17,988
68,535
71,000
31,292
,----- —
Oats,
bush.
242,850
64,100
135,565
151,660
124,100
9,000
235,608
920
Barley,
bush.
63,018
220
1.00Q
570
Rye,.
bush.
3,441
m>
_____ 1
_____ ,
45,674
-----r-
Total week 1912. . 248,661 2,454,231
499.275
963,812 110.482
Since Jan. 1 1012. .9,028,339 69,233,534 24.615,887 25.564.363 3758,047
Week 1011_____ . 329,092 1,647,934
648,579 1,176,571
22,023
Since Jan. 11911. .9,773,878 32,976,440 47,107,956 28,228,504 2621,609
4.321286,383
1,359
357,576
♦Receipts do not include grain passing through New Orleans for foreign port»
on through bills of lading.
■
The exports from the several seaboard ports for the week
ending July 13 are shown in the annexed statement:
Com,
bush.
Flour,
bbls.
374.195
13,330
158,800
.............
41 ,000
_______
225,704
15,237
1,000
4 5 ,000
______________ _____
Montreal_________ 775,570
.............
S t.J o h n .......... ................... ..........................
45,847
2,304
6,0 00
23,182
3,5 0 0
10,000
73.0S0
560
Exports from—
New Y o r k ______
B o s t o n ... .............
Philadelphia ____
Baltimore ________
New Orleans____
Galveston________
Wheat,
bush.
Total week___ 1,576,269
Week 1911_____ 964.286
73,567 164,473
740,110 161,479
Oats,
bush.
Rye,
bush.
Barley,
bush.
Peas,
bush.
6 , 6 6 0 . ______
6 4 ,7 0 1 ’
38 9 ...............................
...........................
.............
...........
............................. 4
100,958
_____
_____
.....
100
.......................... ..
...........
_______
...:.
_____
250,800
_____
25 ,000
--------920
______
______
______•
359,438}
360,360;
____
____
89,701
____
389
531.
The destination of these exports for the week and since1
July 1 1912 is as below:
-------- Flou,r------------- --------Wheat-------------- --------- Corn■
Sine*
Since
Since
Week
July 1
Week
July 1
Week
July 1
1912.
1912.
July 13.
1912.
July 13.
Exports for week and July 13:
bbls.
bbls.
bush.
bush.
bush.
bush.
Since July 1 to—
_____
•
90,913
168,847 840,845 2,002,163
United Kingdom—
26,109
45,152 713,424 1,423,617
10,000
Continent............ .
16,778
53,238
29,583
22,000
38,125
48,238
So. and Cent. Amcr.
______
______
29,214
50,587
71,285
24,403
West Indies.............
..........
..........
_____
______
290
150
Brit. No. Am. Cols..
926
926
1,309
1,309
Other countries------164,473
161.479
T o ta l.......... .........
Total 1911..............-
295,768 1,576,269 3,463,905
278,212 964,286 1,769,363
73,567
135.449
746,110 1,393,352
The world’s shipments of wheat and corn for the week
ending July 13 1912 and since July 11912 and 1911 are shown
in the following:
Com.
Wheat.
1912.
Exports.
North Amer.
Russia____
Danube___
Argentina . .
Australia . .
In d ia _____
Oth .countr’s
1911.
1912.
Week
July 13.
Week
Jtdy 13.
Since
July 1.
Since
July l.
Bushels.
2.656.000
1.528.000
360.000
1.552.000
384.000
2.632.000
264.000
Bushels.
5.312.000
4.071.000
1.632.000
4.686.000
736.000
5.440.000
610.000
Bushels.
Bushels.
3.824.000
6.448.000 238.000
1.360.000 638.000
2.044.000 5,985,000
1.496.000
3.522.000
214,000
1911.
Since
Julu 1.
Since
July 1.
Bushels.
Bushels. '
1,268,000
3.987.000
4.947.000
595,000
2,729,000
11,038,000
T o t a l___ 9,376.000 22,487.000 19,808,000 6,861,000 14.962,000 10,202,000
The quantity of wheat and corn afloat for Europe on dates
mentioned was as follows:
Wheat.
United
Kingdom. Continent.
July
July
July
July
13
6
15
16
1912..
1012..
1911. 1910..
Bushels.
>4,312,000
25.392.000
22.488.000
20.560.000
Com.
Total.
Bushels.
Bushels.
18.440.000 42.762.000
20.200.000 45.692.000
16,360,000 38.848.000
8,320.000 128.880.000
United
Kingdom. Continent.
Bushels.
8,806,000
9.707.000
4.828.000
6.035.000
Bushels.
22.372.000
22.618.000
6,943,000
t0.200.000
Total.
Bushels. •
31,178,000
32,325,000"
11,771,000to.23 5.000
156
THE CHRONICLE
National Banks.— The following information regai
^
national banks is from the office of the Comptroller of the
Currency, Treasury Department:
Name of Company.
[VOL.
Per
Cent.
When
Payable
LXXXXV.
Books Closed.
Days Inclusive
Street and Electric Railways (Concluded)
Lewiston Aug. A Waterv., pf. (qu.) (No. 9)
: Holders of rcc. July 15
IK Aug.
Mexico 1ramways (quar.).........................
IK Vug.
luly 14 to July 31
Milwaukee El. Ry. & 1.., pf. (qu.) (No.51
IK Inly 3
C H A R T E R S ISSU ED TO N A T IO N A L B A N K S J U L Y 5 TO JU L Y 9.
Monongakela Valley Traction, preferred. .
2 K Aug.
uly 20 to Aug. 1
Hampshire Elec. Rys., preferred..
2
July oil ■uly 21 to July 31
10.220—
The Central Texas Exchange National Bank of W aco, T ex. New
A or. Texas Elec.Co..com. (quar.) (No. 12
IK
>ept
Holders
of rcc. Aug. If a
Capital S500.000. VV. H . McCullough, President; W . W . W ood
Preferred (No. 14).............. ...................
3
-sept
Holders of rec. Aug.15a
son, Cashier. (To succeed The Central Texas National Bank of Philadelphia Co., com. (quar.) (No 123)
\tlg.
Holders
of ree. July la
IK
.
5Xac<h.
ant* T *lc Exchange National Bank o f W aco, Tex.)
Public Service Investment, com. (No. 6).
2
: Holders of rcc. Julylfa
\ug.
10.221—
The First National Bank o f Meridian, Idaho. Capital, 310,000. Preferred (quar.) (No. 13).............. .
: Holders of rec. Julylfa
IK Aug.
J. J. Jones, President; E . C. Pfaffle, Cashier. (Conversion of The Railway & Light Securities, com. (No. 6
2
Aug.
: Holders of rec. JulylSa
Meridian Exchange Bank, Meridian, Idaho.)
Preferred (No. 15)........ .........................
3
Aug.
: Holders of rec. Julyl5a
10.222— The Story City National Bank, Story City, Iow a. Capital, $40, Railways Co. General (quar.)__________
1
AUg.
: inly 21 to July 31
000. Joseph Marwick, President; John Donhowe, Cashier.
Rio de Janeiro Tram., L. & P. (quar.)..
Holders of rec. July 10
IK Atlg.
(Succeeds The Story City B ank.)
United Power A Transportation..............
10.223—
The Commercial National Bank o f Storm Lake, Iowa. Capital,r nited Traction of Pittsburgh, preferred. 31.41 Inly 2! uly 20 to July 29
2 K ruly 2( Holders of rec. Julylla
550.000. Palmer C. T oy , President; Harry J. Crouse, Cashier.
West Penn Rys., pref. (qu.) (No. 27)___
1 holders of rec. July 25
IK \ug.
(Succeeds The Comm ercial State Bank o f Storm Lake.)
.................
$1 July 2r July 11 to July 21
10.224—
The First N ational Bank of Bradley Beach, N . J. Capital, Aork Railways, preferred........
Banks.
325.000. James D. Carton, President; W . T . Sherman, Cashier.
(quar.) ............... ..........................
Aug.
3
1 luly 28 to July 31
10.225—
The National Bank o f Comm erce of Houston, T ex. Capital.Bcncery
Extra.......... .......
Allg.
] ulv 28 to July 31
3
3500.000. O. T . H olt, President; J. M. Logan, Cashier.
Corn
Exchange
(quar.)_______________
_
4
Atlg.
1 Holders of rec. July 31
10.226— The Calvin N ational Bank, Calvin, Okja. Capital, 525,000. Pacific (guar.)........ .............. .............. ....
1 (uly 17 to July 31
2
Aug.
W . B. Bentley, President; F. II. Gosman Jr., Cashier. (Succeds Twenty-third Ward.......... ..........
] luly 20 to July 31
Aug.
3
The Citizens’ State Bank o f Calvin.)
Trust Companies.
Broadway (quar.).....................................
] Inly 20 to July 31
IK Aug.
V O L U N T A R Y L IQ U ID A T IO N S .
Farmers’ Loan A T ust (quar.)__________ 12K Allg.
1 luly 20 to July 31
Hamilton, Brooklyn (q u a r .)....... .............
Aug.
] Holders of rec. July25a
3
1,613—‘The National Bank o f Augusta, Ga., July 1 1912. Consolidated Kings County, Brooklyn (quar.)_________
4
] uly 26 to July 31
Aug.
with the C itizens’ & Southern Bank o f Savannah, Ga., which Is Nassau, Brooklyn (quar.).. ___________
2
Aug.
] July 28 to AUg. 1
to act as liquidating agent.
Fire Insurance.
8,818— The Exchange National Bank o f W aco, T ex., July 3 1912. Suc Westchester Fire...................... ............... .
Aug.
i July 17 to’ July 31
20
ceeded by The Central Texas Exchange National Bank o f W aco.
Miscellaneous.
Liquidating agents, P. A . Gorman, L. B. Smith, II. M. Mlnier,
Amalgamated Copper (quar.)____________
Aug. 2( Holders of rec. July27a
1
J. F. W right and W . W . W oodson, W aco, Texas.
Amer. Beet Sugar, com. (quar.) (No. 4).
IK Aug. I/ Holders of rec. July 27a
9,828— The Central Texas National Bank o f W aco, T ex., July 3 1912
American Cigar, common (quar.)________
1 Holders of rec. July 15a
I K Aug.
Succeeded b y The Central Texas Exchange National Bank of W aco
American District Tcleg. of N . ./. (quar.).
Inly 2! luly 20 to July 28
1
Liquidating agents, C. L . Johnson, Sol. Hisrchberg, F. E . M cLarty
American Gas & Electric, pref. (quar.)..
1 luly 18 to
Aug. 1
IK Aug.
R . B Spencer and W . H . McCullough, W aco, Texas.
American Glue, preferred...... ........... .......
Aug.
4
1 luly 19 to Aug. 1
Amer. Graphophone, pref. (qu.) (No. 56)
IK Allg. If. Holders of rcc. Aug. 1
American Light & Traction, com. (quar.)
J luly 18 to July 31
2K Allg.
Common (payable in common stock)..
1 inly 18 to July 31
2K1 Aug
Preferred (quar.)___________________
1
IK Atlg.
American Locomotive, preferred (quar.).
July 22
IK
Canadian Bank Clearings.— The clearings for the week end American Utilities, preferred (quar.)____
IK Aug. 11
(N .Y .) L .,H . A P.,com.(qu.)
K inly If
ing July 13 at Canadian cities, in comparison with the same Binghamton
Preferred (quar.) (No. SO). ............
IK July If
Butte Elec. & Pow., pref. (quar.) (No. 44)
1 Holders of rec. July20«
IK Aug.
week of 1910, show an increase in the aggregate of 2 9 .4 % .
Cambria Steel (quar.)______ .
IK Aug. If Holders of rcc. July31a
Canada Cement, Ltd., pref. (quar.) (No. 10)
IK Atlg. 11 Aug. 1 to Aug. 11
Chicago Pneumatic Tool (quar.)............
July 2C July 10 to July 25
1
Cities Service, common (monthly)_______
1 Holders of rce. July 20
1 1-3 Aug.
Week ending July 13.
Preferred (monthly) ...............................
1 Holders of rcc. July 20
K Aug.
Clearings at Claflin (H. B .), first preferred (q u a r.)...
1 Holders of rce. July 24
Aug.
IK
Inc. or
Second preferred (quar.)........................
Aug.
1
Holders of rec. July 24
IK
1912.
Dec.
1911.
1910.
Colorado Fuel & Iron, preferred-............
2 K i July 26 July 2 to July 19
Commonwealth Edison (quar.)________
1 Holders of rec. Julyl5a
Aug.
IK
Canada—
S
S
%
Consolidated Ice, Pittsburgh, pref. (qu.).
IK July 21 July 10 to July 21
,226,425 51,006,316 + 25.9 45,087,361 40,904,119 Consolidation Coal (quar.)............
Montreal ........................
1K July 31 Holders of rec. July25a
Toronto...... ................—
,771,011 35,999489 +32.7 33,900,000 29,290,487 Cuyahoga Telephone, preferred (quar.)..
IK July 31 Holders of rec. July 15
,048,952 22,132,554 + 26.7 18,700,194 10,940,174 Diamond Match (quar.)........................
Winnipeg . . 1 .................1K Sept. 11 Holders of rec. Aug.31a
Vancouver................ .....
,991,989 10,032,136 + 29.5 0,153,451
5,133,105 Distillers Securities Corp. (qu.) (No. 39).
K July 31 Holders of rec. JulylOa
,017,617
4,955,823 + 22.0 3,691,025 3.295,750 Distilling Co. of America, pref. (quar.)..
Ottawa........ ..................
1
July 31 Holders of rcc. JulylOa
.727,781
Q uebec........ ........ .......
2,572,162
3 ,1 0 2 ,8 (7 +38.9
2,303,819 Dominion Coal, Ltd., preferred.... ...........
Aug.
1 Holders of rcc. July 18
3
K
,383,447
2,048.233 + 16.4
Halifax................ ..........
2,154,122
2,621,821 duPont(E.I.) de Nemours Pow., pf.(qu.).
July
25 July 10 to July 20
IK
,305,418
2,402,552 + 40.1
H amilton_____________
1,917,750
1.710,935 Edison Elec. III. of Boston(qu.) (No 93).
Aug.
1 Holders of rec. July 15
3
,078,709
1,851,597 + 12.3
1,700,228
St. John.........................
1,511,430 Electrical Securities Corp., pref. (quar.).
1 Holders of rec. July29a
IK Aug.
,910,843
1,391,2)1
1,471,315 + 29.9
London ______________
1,323,377 Elec. Bond & Share, pref. (qu.) (No. 29).
1 July 20 to July 31
I K Aug.
,543,570 4,051,870 + 36.8 2,948,337
Calgary ..........................
1,829,547 Electric Company of America__________ 30 cts. Aug.
1 July 14 to July 31
,050,027
2,737,098 + 48.2 2,306,992
Victoria............................
1,432,208 Eureka Pipe Line (quar.)____ _________ 10
1
Allg.
,193,848
2,343,244 + 79.0
1,404,676
E dm onton...... ..........—
987.157 Fall River Gas Works (quar.) (No. 71)__
1 Holders of rcc. July20a
Atlg
3
,284,621
1,514,582
1,509,079 + 51.3
R e gin a ........ ...................
Federal Sugar Refining, common (quar.).
IK July 2! Holders of rec. July20a
652,785
603,952
103,519
+
8.1
Brandon.........................Preferred (quar.)_______ ___________
IK luly 2! Holders of rcc. July20a
,110,598
1,453,855 +45.2
Saskatoon........................
Ft. Worth P m . A LI., pref. (qu.) (No. 4).
1 Holders of rec. July20a
IK Aug.
,100,000
751,106 +46.5
Moose Jaw____________
Goldfield Consolidated Mines (quar.)___ 30c. July 31 Holdersof rec. June29a
564,445
+ 8.4
520,913
Lethbridge ....................
Gorham Manufacturing, common (quar.)..
Aug. 1: Holders of rec. Aug. 8«
2
K
755,851
Brantford ......................
508,754 + 48.0
Greene Cananea Copper........ ................... 25c. Aug. 31 Holders of rec. Aug.L a
784,215
Fort William..................
Guanajuato Pow. & El., pf. (qu.) (No. 16)
1
1K Aug.
Harblson-Walker Refrac., pref. (quar.)..
IK July 2!
Total Canada________ 193.813.037 110,783.43
Homestake Mining (monthly) (No. 452). 50c. luly 2f luly 21 to July 25
Indiana Pipe Line (quar.)_____
S3
Allg. If. Holders of reo. July 15
Internal. Harvester, pref. (qu.) (No. 22)..
Holders of rec. July 31
IK 4pet.
D IV ID E N D S .
. • International Nickel, common (qu ar.)... 5 K <ept 3 Aug. 14 to Sept. 3
Preferred (quar.)..................
1 luly 14 to Aug. 1
IK Aug.
Internat.
Steam
Pump,
pref.
(qu.)(N'o.53)
1
Atlg.
Holders of rcc. July 20
IK
The following shows all the dividends announced for the
Kayser (Julius) A Co., lsf A 2d pref. (gu.)
1 (illy 23 to July 31
IK Aug.
Aug.
2 Holders of rcc. July 30
Kellogg Switchboard A Supply (quar.)___
3
future by large or important corporations:
July
20
La Rose Consolidated Mines (quar.)........
■2K
June 30 to July 17
Dividends announced this week are 'printed in italics.
Allg. 31 Holders of rcc. July31a
Lehigh Coal & Nav. (quar.) (No. 135)...
2
1 July 21 to Aug. 1
Loose-Wiles Biscuit, 2d pref. (qu.) (No.I) 2 1-3 Aug.
2
Aug.
1 Holders of rcc. July20a
Lowell Elec. Light Corp. (qu.) (No. 65)___
Aug.
1
1 Holders of ree. July 15
Massachusetts Gas Cos., com. (quar.)__
When
Per
50c. Atlg. u Holders of rec. Aug. la
Books Closed.
Miami Copper (quar.) (No. 2 )..................
Name ot Company.
Cent. Payable.
Montreal Lt., II. & Pow. (qu.) (No. 4 5 )..
Days Inclusive.
2K Atlg. li Holders of rcc. July 31
Municipal Gas, Albany, N. Y. (quar.)__
l July 26 to • Aug. I
2K Aug.
Railroads (Steam),
uiy 21 June 30 to July 17
0
Nlplsslng Mines Co. (quar.)......................
Alabama Great Southern, preferred........
3
2 4 luly 21 June 30 to July 17
Aug. 28 Holders of rec. July20a
Extra .............. ......................................
Atrh. Ton. & Santa Fe, com.(qu.)(No.29)
so
fuly 2L Holders of roc. June29a
IK Sept. 2 Holders of rec. July31a Osceola Consolidated Mining (quar.)----Preferred (No. 2 8 ) ------------------------1 Holders of rec. June28a Pacific Coast Co., common (quur.)........ ..
1
2K Aug.
IK Allg.
Baltimore & Ohio, common...... ......... . . .
3
Sept. 3 Holders of rec. Aug. la
First preferred (quar.).... ........... .........
1 ■uly 20 to Aug. 1
IK Aug.
2
lv , Allg.
Preferred..................................... - .........
Sept. 3 Holders of rec. Aug. la
Second preferred (quar.)_____________
1 uly 20 to
Aug. 1
Canada S outhern........... ........................
1 Holders of rec. Jtinc28a Pacific Power A Light, pf. (qu.) (No. 8 )-.
1 uly 21 to July 31
IK Aug.
IK Aug.
Central UR. of New Jcrsey(quar.)..........
2
Aug.
1 Holders of rec. Julylfia People’s Gas Liqht A Coke (quar.) ---------IK Allg. 2f (aiders of rcc. Aug. 3a
Chic. Ht. Paul Minn. A Om., com. A pref.
Aug.
Pittsburgh
Coal,
preferred
(quar.)..........
July
2.
26
Holders of rec. Aug. 2a
3 IS
IK
Holders of rcc. July 1: a
Clev. Cine. Chic. & St. L.. pref. (quar.)..
uly 3: Riders of rec. July25a
U i July 26 Holders of rec. June28a Pope Mfg., pref. (quar.)............................
1K
Cuba Railroad, preferred-------- ------------3
1 uly 21 to July 31
Aug.
1 Holders of rec. July la PorUand(Ore.)GasACoka,pf. (qu.) (1V0.IO)
IK Aug.
Delaware Lackawanna & Western (quar.)
Aug.
3
1. folders of rcc. July.'ila
2K July 20 Holders of rec. July 3a Procter A Gamble, com. (quar.)--------------Fonda Johnstown & Gloversville, common
2
Allg.
Aug.
I
1 July 25 to July 3'<j
1 Holders of rec. Juty22a Public Service Co. of Nor. 111., com. (qu.)
Great Northern (quar.)..............................
1 July 25 to July 31 d
Preferred (quar.)................ ..................
1 Holders of rec. July 1la
IK Aug.
IK Allg.
Illinois Central (No. 115)---------------------3 +S Aug. 31 Holders of rec. Aug la Quaker Oats, preferred (quar.)-------------IK vug 31 loiders of rec. Aug. la
International & Great Northern Ry., pref.
1
Aug.
1 Holders of rec. Aug. l Scars, Roebuck A Co., common (quar.)__
IK Atlg. If Holders of ree. July31a
Lake Shore & Michigan Southern........ .
6
July 29 Holders of rcc. June2Sa Sbawinlgan Water A Power (quar.)____
IK miy 7i Holders of rec. July 8
Guar, stock (Mich. Sou. & Nor. In d .)..
1 Holders ot rec. JulylGa
6
Aug.
1 Holders of rec. June28a Siegel Stores Corporation, pref. (quar.)...
IK Aug.
Louisville & Nashville................................
IK Allg. L Holders of rec. Aug. 8a
3 IS Aug. 10 July 20 to Aug li Silversmiths Company (quar.)........ ...........
Mahoning Coal HR., common..................
S5 Aug.
2
Aug.
1 Holders of rec. Julyl5a standard Mining, common (No. 1)-------luly 28 to Aug. 4
Michigan Central_____________________
3
Atlg. 31
July 29 Holders of rec. June28a Standard Oil of Indiana (quar.)................
3
Nashville Chattanooga & St. Louis........ .
1 July 21 to Aug. l Tennessee Copper...... ................... ............ $1
Aug. 1( Holders of rcc. July2la
3H Aug.
N. Y. Chicago & St. Louis, 1st & 2d pref.
I mly 25 to July 31
2 IS Aug. 31 Holders of rcc. Aug. la Texas Power A Light, pref. (No. 1)..........
IK Aug.
V . Y. N. N . A Hartford (quar.) . . . . . ----4
.*}()
Torrlnglon Company, common____ ___
1 (uly 20 to July 31
Allg.
Norfolk & Western, preferred (q u a r.)...
I
1
Aug. 19 Holders of rec. July31a Trenton P'tlerici, non-cum. pref. (quar.).
uly 2. Holders of rcc. JulylSa
Northern Pacific (q u a r.)..-------------------1Holders of rcc. July 9a
Cumulative preferred (quar.).................
5
uly 21 loiders of rcc. July 18a
IK Aug.
Pitts. C. C. & St. L., coni'. & pref. (quar.)
1
Allg.
1 [alders of rec. July24a
U< July 25 Holders of rce. Julyl5a United Cigar Mfrs., common (quar.)__
Pittsburgh & Lake Erie_______________ _ $2.50 Aug.
2
Ml".
1 Holders of rec. July22a United Dry Goods Cos., com. (q u a r.)...
1 loiders of rcc. July25a
Reading Company, common (quar.)----8 Holders of rcc. July23a U. S. Bobbin A Shuttle, pref. (q uar.)...
1 uly 21 to July 31
US Aug.
IK Allg.
First preferred (q u a r).................. .......
1
Sept. 12 Holders of rcc. Aug.27a U .S . Light A Heating, preferred............
3K 'illy 2'. loiders of ree. July 3a
Rome Watertown A Ogdensburg, guarfqu.)
US Aug. 15 Holders of rec. July31a U. S. Realty A Improvement (quar.)----1 loiders of rec. July2Ca
IK Aug.
1
St. I.iuis & San Fran., first pref. (q u .)._.
Aug.
1 Holders of rcc. Julyl7a U. S. Rubber, common (quar.)..............
1
inly 8) loiders of rec. July 6a
Utica Clinton A- Binghamton.................. .
2
1K Aug. 10 Aug. 1 to Aug. 10
First preferred (quar.).............. ...........
uly 31 loiders of rec. July 6a
1
Western Maryland, preferred (quar.)----July 20 Holders of rcc. Julyl3a
Second preferred (quar.)............ ..........
IK luly 31 loiders of rec. July Ca
Street and Electric Railways.
Vacuum Oil............................................. . .
3
Aug. 1.
Bay State Street Ity., first preferred___
3
Aug.
1 Holders of rcc. July 13 Virglnia-Carolina Chemical, common----IK l Allg. H
Binghamton R y...........................................
2
Aug. 15 Holders of roe. Aug. 1 Vulcan Detlnnlng, preferred (quar.)-----Ill V 21
IK
Chicago II is. Participation ctfs., Her. 1___
6
1 Holders of rec. Aug. 2 Warncr(Chas.)Co.of Del.,1st A 2d pf.(qu,)
Oct.
uly 2f, folders of rcc. June 30
IK
Columbus (O.) Ry., pref. (quar.) (No. 51)
1 Holders of rcc. July 15 White (J. G.) A Co., Inc., pref. (quar.).
IK Aug
1 folders of rcc. July 20
IK Aug.
Commonwealth Pow.. Ry. & Lt.,pf. (qu.)
1 July 20
to Aug. 6 Young (J. S.) Co., common........................
5
u s Allg.
uly 21' loiders of rcc. Juno 16
East St. Louis * Sub.. pref.(qu.) (No. 25>
1 Holders of rcc. JulvlSa
UI Atlg.
Preferred.... .............................. .............
IK )n dem Holders of reo. June 30
Grand Raoltls R y., pref. (quar.) (No. 47)
1 Holders of rec. July 15a
U i Aug.
Jin rrtsburg T action.............. ............... —
3
Aug.
1 July 1 to July 31
a Transfer books not closed for this dividend. f> Less Income tax. d Correction.
.fa ’ sonville T action. com. (qu.) (No. 6 )..
1 Holders of rec. July22a
IK Atlg.
Also declared 2t$% , payable Jan.20 1913.
/Payable In common stock k De
Preferred (ouar.) (Vo. 6 ).... ......... .........
1 '< Aug.
1 Haiders of rec. July22a
clared 3% payable IK % Aug. 15 1912 and 1K % Feb. 15 1913.
THE CHRONICLE
July 201912]
DETAILED RETURNS OF TRUST COMPANIES.
Auction Sales.— Among other securities, the following, not
usually dealt in at the Stock Exchange, were recently sold at
auction in New York, Boston and Philadelphia:
By Messrs. Adrian H . Muller & Sons, New York:
Shares.
Per cent.
3 Niagara Fire Ins. Co________ 331
27 Prince Tire Co., c o m ..$266.58lot
907 Gas El. Car Co., com---------\$140
1,341 Gas El. Car Co., pro!________f lot.
Hands.
Per cent.
$100,000 West End Furnace Co. of
Roanoke, 1st 6s_____ ______ $500 lot
S5.000 Bermuda & Atl. SS. Co.,
Ltd., 6s, 1912. Dec. 1911 coups.
attached.............
10
$125,000 The K. C. Mcx. & Orient
R y. Co. 1st 4s, 1951...............
32
S22.500 2d M. bds. Lexington Mfg.
C o .......... .................................... $110
$10,000 1st M. bonds Valley Falls
Mfg. C o .................
$4,000
$9,500 1st M. bonds ralmetto Cotton
5 nay State Ga3 C o., 850 each,
22c. per sh.
Mills .................... ........... ........... $3,250
Shares.
Percent.
4,44t Ontario Mg. A Smelt. Co..
SI each.......... ........... ........... $55 lot
15 Ardalcy Casino Co----- $5)3 per sh.
02 I.. Foreman Fechtman & Co.,
a corp., S50 each. $108.10 per sh.
15 Manhattan Transit Co.. S20
each............................. 82.25 per sh.
15 New Central Coal Co............ - 37 )3
3 St. Joe & Grand Isl. R y. Co. l!)
.800 dies. A O. Ity. 1st nf. scrip.S12 lot
885 Distillers’ Sec. stock scrip..S23 lot
$25 Col. & Sou. Ry. 1st pf. scripS20 lot
$25 Col. & Sou. Ry. 2d pi. scrip $16 lot
$12.50 Col. A Sou. R y. 1st 4%
bond scrip............................. $9 lot
3 Col. 4c Hock. Coal A I. C'o__Sl lot
By Messrs. Francis Henshaw & Co., Boston:
% per sh.
Shares.
$ per sh. Shares.
20 Milford (Mass.) Water Co., $50
1 N ai. Shawmut Bk., old stock. .240
p a r.................. .......................... 75
4 Nat.Sliawmut Bank, new stock 240
1 Idaho, Ore.,PcwerCo., p r e f... 62
1 NaumkeagSteam Cotton C o ... 150
10 Waltham Watch Co., pref----- 101
l Pacific MUts, $1,000 n&r_____ 3765
B y Messrs. R . L. Day & Co., Boston:
Shares.
Spersh.
10 First Ward Nat. Bank.............. 185
10 Bristol Co. Nat. Bk., Taunton. 95
5 Warren Nat. Bk., Peabody — 112)3
3 Beverly (Mass.) Nat. Bk---------151)4
5 Essex Trust Co., Lynn...............237
5 Arlington Mills........ ................121
25 Boston Wharf Co...............
112
S'larcs.
..
Spersh.
270 Charles P. Whltte Mfg. Co. of
Boston ......................................24 \i
Bonds.
Percent.
$42,000 The United Colo. Mines Co.
1st 7s, 1919, coup. Jan. 1 1911
and subs, on.................................. )4%
By Messrs. Barnes & Lofland, Philadelphia:
%pcrsl>.
Shares.
$ per sh shares.
46 Tabard Inn Corp., com --------- \Sl.t0
200 River A Harbor Impt. Co........ 15)3
0 Green A Coates Sts. Pass. R y . . 123 )3 34 Tabard Inn Corp., pref.......... I lot.
12 Philadel.Bourse, com., par $50 5
9 Union Pass. R y--------------------194
100 Kendle Motor Car Co., par $10. 50e.
20 Kensington Nat. Bank, par $50 110
29 Manufacturers’ Nat. B k .. 131-131)4 10 Peoples Nat. Fire.............. .
25
Bonds.
Per cent.
5 Girard Trust Co.......................980
$3,000 City of Phlla. 3s, 1917..........95
6 People’s Trust Co., par $50____ 50
$1,100 City of Phlla. 3s, 1919..........93
5 Provident Life & Trust Co____869
$5,550 Real Est. Title Ins. A Tr.
5 Trust Co. of No. America......... 115
Co. Series P 4s, 1918----------------- 92
10 Amer. Union Fire Ins. Co., par
$1,000
825 ...........................
33Buff. A Lake Erie Trac. Co.
first ref. 5s, 1936.............
65)4
25 Enterprise Mfg. Co. (vot trust
$2,000 Alton Ry. & 111. Co. 1st 5s,
ccrtillcates) ......................
109
1915............................................ -1 0 0
2 De Long Hook A Eye Co_____ 101)4
$1,000 Springf. Wat. Co. 5s, 1926.. 99
300 Pratt Food Co., par $1.............. 390
I
k 5 s,’28
*2ft 00
SLOOO
No. Springf. W.lt
Wat. fV
Co.
99
By Messrs. Samuel T . Freeman & Co., Philadelphia:
Pet cent.
Shares.
.
% per sh. Bonds.
■
$1,000 No. Springf. Wat. 5s, 1928. 99
4 I’ enna. Co. for Ins., A c---------- 650
$4,000 Phlla. A Garrettford Street
100 Western N. Y. A Penna. R y . . . 6
Iiy. 1st 5s, 1955................- ......... 92
5 First Mtge. Guar. A Trust----- 101
$1,000 Springf. Wat.. 5s, 1926----- 99
Statement of New York City Clearing-House Banks and
Trust Companies.— The detailed statement below shows the
condition of the New York City Clearing-House members
for the week en ing July 13. The figures for the separate
banks a e the a erages of the daily results. In the case of
the totals, actual figures at th * end of the week are also given.
For definitions and rules under which the various items are
made up, see “ Chronicle,” V. 85, p. 836. in the case of the
banks, and V. 92, p. 1607, in the case of the trust companies
Capital.
Surplus.
Loans.
Average.
Specie. Legals. Set Depos Re
Average. Average. its. Aver. serve.
$
$
$
$
$
782,0 20,001,0
21,986,0 4,345,0
3,786,1
4,685,0 39,800,0 9.985.0 1,645,0 46,300,0
20,905,0 4,411,0 1,123,0 ' 21,582,0
2,033,3
57,619,0 11.481,0 2,000,0 65,467,0
8,618,6
26,048,0 4,656.0 1,930,0 26,043,0
6,324,7
28,458,3 200,320,0 38,801,0 7,940,0 195,870,0
7,003.0 29,581,0 4,857.0 2,175,0 26,990,0
7,447.0
1.C07.0
160,0
7,202,0
522,9
2,099.0
61,0
475,0
1,925,0
127,1
9,561,0
170,0
8,434.0 2,242,0
944,9
43,387,0 8,224,0 2,513,0 42,788.0
4,527,1
15,494,6 143,600,0 17,849.0 11,453,0 120,729.0
4,527,0
624,0
946,2
543,0
4,738,0
18,540,0
18,013,0 3.037.0 1,078,0
1,244^
154,0
2,144,0
500,0
470,7
1,790.0
13,340,6 73,604.0 15,826,0 5,330,0 82,030,0
2,059,0 23,914.0 5,392.0
622,0 23.321,0
12,893,0
475,6
11.199,0 2,155.0 1,103,0
1,855,1
1,343,0 1,130,0
9,666.0
0,568,0
1,684,8
11,527,0 2,826.0
203,0
11,753.0
5,689,8
59,387,0
60,297,0 8,974,0 6,100,0
7,749,2
20,237,0 4,267,0 2,510,0 24,533.0
13,317,3
87.270,0 21,640,0 2,111,0 91,871,0
69,9
1,750,0
1,436,0
325,0
121,0
5,831,9 33,427,0 6,912.0 1,900,0 34.4G6.0
2,441,5
14,579,0 3.390,0
160,0
14,182,0
21,585,5 116,258,0 22,709,0 2,342,0 105,400,0
1,546,2 36,263,0 7.831.0 2,944,0 41,744.0
851,0
705.2
3,385.0
89,0
3,577,0
1,476,0
738,0
1,758,4
8,423,0
8.739,0
797,0
236.0
4,282.0
4,070.0
726,5
9,100,1. 88,875,0 19,573.0 5,254.0 98,561,0
13,623,0 2,885,0 1,0j 8,0
15.691,0
2,214,1
522,0
378.0
3,351,0
3,500.0
838,1
1,224,0
254,0
5,421.0
6,185.0
1,014,2
17,161,0 3,515.0 1,017.0
18.101.0
1,738,9
2,301.0
299,0
8,814.0
0,233.0
1,280,0
464,0
391.0
3,416.0
3,313.0
525,9
1,031,0 2.024.0
12.014.0
2,161,2
12,195.1'
263,0
954,0
4,643,0
4,089.0
1.006.5
5,057,0 2,499,0 29.845.0
24,875,0
2,183,2
690,0 24,194,1
22,224,0• 5,458,0
2,707,3
2,531,0
11,087.0
410,0
9,189,0
833,6
357,0 21,202.0
743,2
16,086,0i 4,987.0
14,875.0
418,0
10.728,0i 2,644.0 1.111,0
6,371.0
493,8
0,202,01 1,169.0 . 494,0
10,055.0
360,(3
980 ,t'
9,831,0, 2,100,0
6,766.0
1,127,0i
287,0
7,860.1, 1.420.0
%
25.5
25.1
25.6
24.3
25.3
23.8
26.0
23.8
25.6
25.2
25.0
24.2
25.7
25.4
30.5
25.7
25.7
25.2
25.4
26.2
25,3
27.6
26 8
25 4
25.5
25.0
23.7
25.8
20.2
25.3
25.3
25.1
25.5
23.3
23.8
25.0
25.1
25.0
25.3
26.2
27.3
25.4
20.5
25.2
25.2
26.1
25.0
25.2
Totals, Avge. 131,650,1i 135,518,(> 1401,004,(/ 178,149,0i 79,390,0 1425.207,0
' ' -m*
1383.958.1 •7 > T . r , < ........
Actual figures July 13..
25.8
S
2,000,0
Bank of N. Y .
Manhattan Co. 2,050,0
2,000,0
Merchants' . . .
Mcch. A Met.
6,000,0
Am erica........
1,500,0
City .............. 25,000,0
Chemical........
3,000,0
Merchants’ Ex
600,0
300,0
Butch. ADrov.
600,0
Grconwlch__
5,000,0
Am. Exch----Commerce----- 25,000,0
500,0
Pacific ..........
2,250.0
Chat. A Phcn.
200,0
People's..........
3,000.0
Hanover........
2,650,0
Citizens’ Cent.
1,000,0
Nassau ..........
1,000,0
Market A Fult
2,000,0
Metropolitan .
Corn Exchange 3,000,0
1,500.0
Imp. A Trad. .
5,000,0
P a rk ..............
250.0
East ltlver__
5,000,0
Fourth_______
1,000,0
Second_______
First .............. 10.000,0
2,000,0
Irving E xch ..
250.0
Bowery_____
600,0
N. Y. County.
750,0
Gcrmnn-Amer.
5,000,0
Chase......... ..
100.0
Fifth Avenue.
200.0
Oerman Exch.
200,0
Germania___
1,000,0
Lincoln ..........
1,000,0
Garfield_____
F ifth ..............
250,0
Metropolis___
1,000,0
West Side___
200,0
Seaboard____
1,000,0
1,000,0
Liberty..........
N. Y. Prod.Ex
1,000,0
1,000,0
State ..............
1,000,0
Security........
1,000,0
Coal A I ro n .-1,000.0
Union E xcli..
Nassau, Bklyi)1 1,000,1.
Trust Cos.
00s omitted.
Surplus.
Net
on Dep.
Loans. Specie. Legals. 'rtthC.H Deposits.
Average. Average Average. Banks. Average.
B ro o k lyn ___
Bankers______
U .S.M tg. AT.
A stor_______
Title Guar.AT.
Guaranty........
Fidelity........
Lawyere’T I AT
Col.-Knlckerb.
Standard ___
People’s ........
New York___
Franklin........
Lincoln ..........
Metropolitan..
Broadway___
$
2,432,1
15,672,9
4,567,4
1,279,1
12,095,1
22,671.4
1,303,4
6,273,6
7,079,1
1,389,6
1,710,0
11,682,6
1,326,3
557,1
6,111,5
671,0
S
18,355.0
156,258.0
49,679,(
20,915,0
34.967,0
169,099,0
8,178.0
19,771,0
50.648,0
16,382 ,C
17,739.0
47,085,0
11,119.0
11,292.0
25,941,0
8,962,0
Totals, Avge.
16,723 ,f 066,390.0 07,824.0 7,293,( 61 [461.0 191,764,0 15.2 + 11.1
Reserve.
S
$
$
%
%
1,741.0
435,0 2,514.0, 12,583,0 17.2+16.0
17,681,0
33.0 13,785.( 117,882,0 15.2 + 10.4
4,633.0
438.( 5.747.0 33,805,0 15.0 + 14.2
29,0 1,873,0 16,772.0 14.7+ 9.5
2.448,0
1,798.0 1.686.C 2,641,( 22,601,( 15.0+10.3
16,584,0 1,281.0 14,165,0 116,239,0 15.3 + 10.8
232,0
965.0 6,455.0 15.4+11.5
764,0
881,0 1,783,1 15,275.0 15.7+10.4
1,522.0
755.1 4,706.< 40,721,0 15.0 + 10.3
5,358.0
2,298,0
33.( 1.903,0 14,908,1 15.6+11.3
1.867.0
477.1 1,975.1 15,468.1 15.0+11.0
192.0 3.587.0 32,182.( 15.5 + 10.0
4,801,1
976.0
328.0
1.069.0
8,909,0 15.6+ 9.7
224.0 1,211.0 10,775.0 15.1+10.1
1,413.0
8.0 2,525,0 18,340,( 15.7+12.1
2,879.0
8,849,( 15.0+ 10.S
908,0
361,1 1,105,1
Actual figures luly 13. 667,124.0 69,774,0 7.212,0 65.629.0 195,408.0 15.6+11.6
1 tie capital of the trust companies Is as follows' Brooklyn, $1,000,000: Bankers.
$10,000,000: United States Mortgage A Trust, $2,000,000: Astor. $1,250,000: Title
Guarantee A Trust. $4,375,000; Guaranty, $5,000,000; Fidelity, $1,000,000:
Lawyers’ Title Insurance A Trust, $4,000,000; Columbla-Knlckerbocker, $2,000,
000: Standard, $1,000,000; People’s, $1,000,000: New York, $3,000,000: Franklin.
$1,000,000: Lincoln, $1,000,000; Metropolitan, $2,000,000: Broadway, $1,000,000:
total, $40,625,000.
SUMMARY COVERING BOTH BANKS AND TRUST COMPANIES.
Week
Capital. Surplus.
ending
July 13.
Loans.
Specie.
On Dep.
Legal with C M .
Net
Tenders. Banks. Deposits
$
$
8
$
$
$
Averages.
$
1.425,267,0
Banks . . . 131,650,0 195,518,5 1,401,004,0 278,149,0 79,390,0
Trust cos. 40,625,0 96,723,0 666,390,0 67,824.0 7,293,0 61,461,0 491,764,0
T otal. . . 172,275,0 >92,242,1 2.067.394.0 345.973.0 86.683.0 01.461.0 1.917.031.0
Actual.
1.412.585.0
1.383.958.0 279.335.0 81.843.0
Banks . . .
7,212,0 65.629.0 495,408,0
Trust cos.
667,124,0 69,774,(
Total. . .
..........
.......... 2,051,082,0 349,109,0 89,055,0 65,629,0 1,907,993,0
The State Banking Department also furnishes weekly
returns of the State banks and trust companies und r 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 i ity (Greater
New York) and those for the rest of the State, as per the
following.
For definitions and rules under which the various items
are made up, see “ Chronicle,” V . 86, p. 316.
STATE BANKS AND TRUST COMPANIES.
Week ended July 13.
Capital as of March 2 1 ...
Surplus as of March 21 _
Loans and Investments..
Change Irom last week.
DETAILED RETURNS OF BANKS.
M’e limit two ciphers (00) in all cases.
Banks.
00s omitted.
157
State Banks
Trust Cos.
State Banks
Trust Cot.
in
outside of
outside of
in
Greater N. Y Greater N . Y. Greater N . Y . Greater N . Y
S
22,387,400
$
59,756,000
$
9,005,100
38,732,700
170,776,700
12,085,744
12,095,489
297,308,000 1,217,528,000 ' 108,469,600
—203,400
— 1,622,600 + 17,565,700
167,802,400
+ 454,400
__________
..................
114,832,800
+ 704.900
177,681,300
+ 29,900
Change from last week.
55,291,000
— 2,363,700
128,075,900
+3.599,400
Legal-tenders A bk. notes
Change from last week.
22,004,600
+ 1,212,000
10,902,900
— 1,011,900
Change from last week.
S
9,525,000
352,148,500 1,328,672.000
— 1,862,900 — 3.893,600
Reserve on deposits........
Change from last week.
99,734,900
—968,200
147,841,000
+ 1,224,000
22.847,900
+ 869,900
25,353,400
+ 77,600
P C. reserve to deposits.
Percentage last week..
29.2%
29.4%
16.4%
16.6%
21.1%
20.4%
15.4%
15.4%
+ Increase over last week.
— Decrease from last week.
Note.— "Surplus" Includes all undivided profits. ’’Reserve on deposits” Include*
for both trust compan es 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 lo
cation as shown below. The percentage of reserve required Is computed on the
aggregate of deposits, exclusive of moneys held Id trust and not payable within
thirty days, and also exclusive of time deposits not payable within thirty days,
represented by certificates, and also exclusive of deposits secured by bonds or
obligations of the State or City of New York, and exclusive of an amount equal to
the market value (not exceeding par) of bonds or obligations of the State or City
of New York owned by the bank or held In trust for It by any public department.
The State banks are likewise required to keep a reserve varying according to locar
tlon. the reserve being computed on the whole amount of deposits exclusive of time
deposits not payable within thirty days, represented by certificates (according
to the amendment of 1910), and exclusive of deposits secured (according to amend
ment of 1911) by bonds nr obligations of thp City or State of New York, and ex
clusive of an amount equal to the market value (not exceeding par) of bonds or
obligations of the State or City of New York owned by the company or held In trust
for It by any public department.
------Trust Cos.— —Stale B a n k sReserve Required for Trust Companies
Total
Of
Total
Of
and State Banks.
ttfseroe which Reserve
which
Location—
Required, in Cash. Required, in Cash
15%.
25%
Manhattan Borough...............................................15%
15%
10%
Brooklyn Borough (without branches tn Manhat.) 15%
20%
10%
Other Boroughs (without branches tn Manhattan) 15%
15%
10%
7)3'
Brooklyn Borough, with branches tn Manhattan. .15%
15%
20%
20%
Other Boroughs, with branches In Manhattan___ 15%
15%
15%
15%
____
___
Cities of the first and second class..........................10%
5%
___
___
Cities of the third class and villages...................... 10%
3%
15%
6%
Elsewhere In State----------------------------------------- -------___
The Banking Department also undertakes to present sepa
rate figures indicating the totals for the State hanks and
trust companies in the Greater New York not in the Clearing
~ r>
H ouse. These figures are shown in the table below, as are
Circulation.—On the basis of averages, circulation o. nauouai bunas .u iuc ■ - ..ig
House amounted to *46,074,000, and, according to actual figures, were $46,126,000. also the r suits (both actual and average) for the Clearing-
158
THE CHRONICLE
> ouse banks and trust companies. In addition, we have
' ombined each corresponding item in the two statements,
thus affording an aggr gate for the whole of the banks and
trust companies in the Greater New York.
ITe omittico ciphers (00) in all these figures.
.
Clear.-House State Banks & Total of all
Members. Trust Cos. Not Banks d Trust
Average.
In C.-H. Aver. Cos. Average
S
$
$
'
Capital as ol June 14..
172,275,000
172,275,000
*26,068,400
198,343,400
292,242,100
292,242,100
*82,647,800
374,889,900
Doans and Investments 2,051,082,000 2,067,394,000
Change Irom last week —37,276,000 — 20,868,000
623,982,400 2,691,370,400
+ 12,493,200
— 8,374,800
D eposits.................. . 1,907,993,000 1,917,031,000
Change from last week — 26,677,000 —33,207,000
a634,263,300 2,551,294,300
+ 15,768,000 — 17,439,000
Caango from last week
+ 5,029,000
— 9,G73,000
+ 3,774,000
— 5,898.400
Legal- coders............ ..
Cuange from last week
89,055,000
+ 3,833,000
86 683.000
+ 2,558,000
08,527,100
— 379,900
95,210.100
+ 2,178,100
Banks: cash in vu dt . _
Ratio to deposits___
301,178,000
25.56%
35 ,530,000
25.85%
12,055,100
13.92%
361,594,100
Trust Cos.:cash In vault
76,986,000
75,117,000
63,881,500
138,998,500
Aggr’ te money holdings
Change from last week
438,164,000
+ 8,802,000
432,056,000
— 7,115,000
75,936,600
+ 3,394,700
508,592.600
—3,720,300
Money on deposit with
other bks. & trust cos.
Change from last week
65,020,000
+ 9,000
61,461.000
— 8,838,000
20,546,500
— 1,491,300
82,007,500
— 10,329.300
Change from last week
503,793,000
+ 8,871,000
494,117,000
— 15,953,000
96,483,100
+ 1,903,400
590 6( 0,100
— 14,0,9,600
Surplus CASH reserve
Banks (above 25% ). _
Trust cos.(abovel5%)
1,222,250
1,352,400
..................
::
10,706,550
Change from last week + 16 ,10 ,7 5 0
2,574,650
+ 1,216,150
— : --------
—
% of cash reserves of tr ust cos.—•
Cash In vault_______
15.53%
Cash on dep. with bks.
11.60%
15.27%
11.10%
15.21%
1.32%
27.13%
26.37,%
16.53%
—
+ Increase over last week. — Decrease from last week. * As of March 21
a These arc the deposits after eliminating the item "Due from reserve depositories
and other banks and trust, companies In New York City” : with this item included,
deposits amounted to $705,710,200, an increase of $2,680,500 over last week. In
the case of the Clearing-House members, the deposits are "legal net deposits” both
for the average and the actual figures, b Includes bank notes.
The averag s of the New v ork City Clearing- ouse banks
and trust companies, combined with those for t e State banks
and trust companies in Greater New York outside of the
Clearing House, compare as follows for a series of weeks past:
COMBINED RESULTS OF BANKS AND TRUST COMPANIES IN
GREATER NEW YORK.
May
May
May
June
June
June
June
June
July
July
1 1 ..
IS ..
2 5 ..
1 ..
ft
15ll
2 2 ..
2 9 ..
6 ..
13 _.
Deposits.
S
2,662,388,9
2,659,189,8
2.661.903.1
2.655.549.3
2,634,657.0
2.673.538.3
2.606.564.3
2,675,205,6
2.099.751.2
2.091.378.4
$
2.518.682.7
2.532.210.3
2,545,u82,2
2.539.401.5
2.514.177.7
2.554.290.8
2,551,635,0
2.504.717.6
2.568.733.3
2.551.294.3
Specie.
$
417.890.5
423.710.1
433.287.0
436.759.2
434.636.3
442.026.5
444.169.5
438.611.0
419,280,9
413.382.5
Legals.
Sur
plus.
8.290.0
8.266.0
8.252.0
8.240.0
8.244.0
8.250.0
8.267.0
8.275.0
154.340.8
129.127.2
177.547.4
174.474.5
156.028.6
161.387.0
179.258.5
150.222.4
99.197.0
96.558.0
96.355.0
96.591.0
97.190.0
94.597.0
96.427.0
98.415.0
137.376.0
439.365.0
436.562.0
437.868.0
438.628.0
437.703.0
441.647.0
438.625.0
15.088.0
15.077.0
15.084.0
15.069.0
15.048.0
15.054.0
15.038.0
15.054.0
140.106.6
132.611.8
161.931.7
147.602.4
151.193.0
153.438.6
175.778.4
152.053.7
FOREIGN IMPORTS AT NEW YORK.
For week.
1912.
1911.
$2,666,(6 i
13,o.' 9,716
Total ..................................
Since Jan. 1.
Dry Goods..............................
14!717|842
1910.
1909
S3,141,674
12,449,406
13,705,212
$16,255,779 $17,270,246 $16,701,203 815,591,080
S"6,801,975 $74,763,821 SS5,023,009 $92,392,012
461.oO) 5.0 392,022,227 424,314,683 374,602,231
Total 28 weeks____ _____ $538,102,451 8160,780,048 8500,038,192 8160,095,143
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 13 and from Jan. 1 to date:
EXPORTS FROM NEW YORK.
1912.
For the week_______
Previously reported;............
1911.
1910.
1909.
$13,731,614
812,943,363 $14,313,967
435.288,509 405,166,063 336,458,381 323,445,386
$449,020,183 8120,458,654 $349,401,744 $337,759,353
The following table shows the exports and imports of
specie at the port of New York for the week ending July 13
and since Jan. 1 1912, and for the corresponding periods in
1911 and 1910:
Exports.
dold
Week.
Imports.
Since Jan. 1
$
8
Great Britain___________________
$
96.262,0 514,152,5 598.196.1
France ....................................... . ” $2,09Y,825 $20,146,522
90.065.3 519.775.4 599.417.2 Germany ----------------------------------15
95,044,9 528.332.5 607.150.6 West Indies_____________________
"389,100 2,622,525
95.864.3 532.623.5 614,540,4 Mexico _________________________
95,070,6 529.706.9 600.047.3 South America..................................
9,313,702
95,950,5 637.977.0 623,194,2 All other countries............................
51,383
94,364,2 538,533,7 624.498.0
93.770.4 532.384.0 621.239.0
Total 1912..................................... $2,480,925 $32,134,147
93.032.0 512.312.9 604.6
l«i,7 Total 1911_______________
111,90S 2,762,441
95.210.1 508.592.6 590,000,1
Total 1910.............. .........
22,400 44,300,363
Loans,
Lega'
On
Disc’ls
Tender Deposit
and
Specie and
with
Net
Invest
Bank C.-H. Deposits.
ments.
Notes. Banks.
New York City.
Manhattan arul Bronx.
$
$
$
*
%
§
S
535,5 3,091,0 605,0
Aetna National........ . 500,0
70,0
141,0 2,610 0
100,0
Washington Heights.
327.9 1,510,0 158,0
64,0
189,0
1,205,0
Battery Park Nat___
200,0
115,2 1,495,0 364,0
47,0
225,0
1,708j()
500,0
Century ....................
530,0 5,574,0 434,0 501,0
892,0 5,554 jo
400,0
Colonial ....................
537, r 6,382,0 750,0 410,0
879,0 6,634,0
300,0
805,4 6,488.0 586,0 509,0
Columbia.... ...............
829,0
7,382,0
200,0
166,! 1,126,0
Fidelity......................
47,0 125,0
149,0
1,070,0
342,5 2,527,0 414,0
Mount Morris......... . 250,0
309,0 2,8210
62,0
Mutual........................ 200,0
411,1 4,486.0 498,0 338,0
482,0 4,778 j()
200,0
New Netherland____
281,5 2,945,0 323,0 107,0
258,0 2.816 6
Twenty-third Ward. . 200,0
100.C 1,883,0 242,0 103,0
233,0 2,06416
Yorkville .......... .......
100,0
518,5 4,183,0 508,0 309,0
737,0 4,813 jo
Brooklyn.
First National...........
300,0
660,1 3,851,0 332,0 134,0
515,0 3.077 0
Manufacturers’ N a t.. 252,0
894, f 5,920.0 502,0 380,0
991,0 5.457,0
Mechanics’ _________ 1,000,0
710,7 10,721.0 1,257,0 899,0 1,911,0 13,119 0
National City---------300,0
5 9 0 / 4,009,0 532,0
96,0
819,0 3,943 o
Nortli S id e ................
200,0
170,4 2,154,0 200,0
99,0
410,0 2,163 0
Jersey City.
First National---------400,0 1,329,1 5,298,0 287,0 420,0 1,161,0 4,342 0
Hudson County N a t.. 250,0
808,7 3,697,0 210,0
91,0
692,0 2,020 0
Third National-------- 200,0
417,1 2,254,0 105,0 149,0
568,0
1,600 6
Hoboken.
220,0
First National...........
659 ,P 3,905,0 202,0
81,0
429,0
1.657.0
Second National........
125,0
297 ,r 3,018,0 199,0
59,0
313,0
1.293.0
Totals July 13........ 6,597,0 11.219,7 46,517.0 8,761,0 5,083,0 13,141,0 82,180 0
Totals July 6........ 6,597,0 11,219,7 85,369,0 8.399,0 i.487,0 14,778,0 80,589 jo
Totals June 29___ 6,797,0 11,742,5 89,023,0 1,118,0 1,925,0 12,970,0 84,339,0
263.636.0
262.539.0
77.022,0
288.915.0
283.778.0
287.338.0
291.163.0
287.649.0
Imports and Exports for the W eek.— The following are
the imports at New York for the week ending July 13; also
totals since the beginning of the first week in January:
Tot. Money Entire Res
Holdings. on Deposit.
We omit two ciphers (00) in all these figures.
Capi
tal.
s
S
S
,365,0 1,211
,781,0 4,422
.024,0 1,620
,364,0 1,562
,757,0 1,656
,200,0 1,935
,212,0 1,827
,011,0 5,470
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
Reports cf Clearing Non-Member Banks.— The following is
the statement of condition of the clearing non-member banks
for the week ending July 13, based on average daily results:
Banks.
Clearings
a Includes Government deposits and the item "due to other banks.” At Boston
Government deposits amounted to S808.000 on July 13, against S814,000 on July 0.
t “ Deposits" now include the item of "Exchanges for Clearing House,” which
was not previously embraced in the total. "Exchanges for Clearing House" were
reported on July 13 as S14,115,000.
We omit two ciphers in all these figures.
Loans and
Investments.
Specie. Legals. Deposits. Circu
lation.
General Merchandise_______
8,031,750
2,074,800
Week.
Ended.
Capital
and
Surplus
Banks.
Boston.
S
3
May 25..........
11.575.0 223.271.0
June 1..........
11.575.0 224.818.0
June 8____ ^
41.575.0 232.641.0
June 15_____
11.575.0 239.063.0
June 22........ ..
11.575.0 237.775.0
June 29..........
41.575.0 239.454.0
July 6 _____
11.575.0 239.395.0
July 13_____
41.575.0 241.243.0
Philadelphia.
May 25.......... . 80,623 390.678.0
June 1_____
80.623 391.429.0
June 8..........
80.623 391.567.0
June 15..........
80.623 391.789.0
June 22_____
80.623 392.664.0
June 29_____
80.623 392.039.0
July 6 ..........
80,023 390.652.0
July 13..........
80.623 390.152.0
$
Surplus as of June 14..
LXXXXV,
Boston and Philadelphia Clearing-House Members.— Be
low is a summary of the weekly totals of the Clearing-House
institutions of Boston and Philadelphia:
NEW YORK CITY BANKS AND TRUST COMPANIES
Clear.-House
Week ended July 13— Members.
Aclualf'lgures
[VOL.
Silver.
Great Britain.......... .................
France ....................................
Germany ...... ...........................
West Indies..............................
Mexico ...............................
South America....................
All other countries........
Total 1912..........
Total 1911___
Total 1910_____
Week.
Since Jan.l
$386,000
$391,272
1,998,076
8,731
163,185
60,154
" 175,812
7,900,549
1,528,634
842,941
$024,070 $12,813,884
101,750 7,637.553
110,277 6,051,613
$920,863 $24,370,828
3,417,311
100
78,165
5,394
2Q0
25,349
705,230
89,537
6,610
$927,163 $28,596,883
701,722 26,070,675
839,947 23,146,424
$3,329
4,980
15,335
29,262
2,776,901
1,922,862
739,022
$101,541 $5,491,751
173,280 4,448,393
33,043
2,202,653
Of the above imports for the week in 1912, .$3 9 1 ,572 were
American gold c m and $6,660 American silver coin.
Banking and f in a n c ia l
Railroad and Industrial Stocks
Write, f°r ° u r Circular No. 614 entitled "R ailroad and Industrial
Stocks, which describes 124 Issues listed on the New York Stock
Exchange, and classified by us as follows: Investm ent Stocks, Semi
Investm ent Stocks, Speculative Stocks.
Spencer Trask & Co.
43 EXCHANGE PLACE— NEW VORK.
Chicago. 111. Boston, Mass. Albany, N. Y.
Members New York Stock Exchange.
White, Weld & Co.
Bonds and Investment Securities,
14
W ALli S T R E E T
NEW YORK
THE
ROOKERY
CHICAGO
111 D E V O N S H I R E S T R E E T
BOSTON
THE
July 20 1912.]
Wall Street, Friday Night, July
19 1 9 1 2 .
T h e M o n e y M a r k e t a n d F i n a n c i a l S i t u a t i o n .— A m o n g t h e
in fl u e n c e s t h a t h a v e g i v e n a n u p w a r d t u r n t o s e c u r i t y v a l u e s
th is w e e k h a v e b e e n a m u c h m o re fa v o r a b le b a n k s t a t e m e n t
on
S a tu rd a y ,
sh o w in g
th a t
th e
C le a r in g -H o u s e
banks
had
b e e n s u c c e s s f u l in t h e i r e f f o r t s t o r e s t o r e t h e r e s e r v e t o a le g a l
b a s is — th e
b e in g
c o n tin u e d
r e c e iv e d
fro m
e x c e lle n t
crop
a ll s o u r c e s ,
rep o rts
th a t
a c c o m p a n ie d
by
are
d a ily
a ste a d y
d o w n w a r d m o v e m e n t in g r a in p r i c e s , a n d , e s p e c i a l l y d u r in g
th e la t t e r p a r t o f th e w e e k , r e p o r ts s h o w in g m o r e a c t i v it y
t h a n h a d b e e n e x p e c t e d d u r i n g m i d - s u m m e r in t h e ir o n a n d
ste e l in d u s tr y
and
a d v a n c in g
p ric e s fo r b o t h
159
C H R O N IC L E
p ig ir o n
S t a t e a n d R a ilr o a d B o n d s .— S a le s o f S t a t e b o n d s a t t h e
B o a r d in c lu d e S I , 0 0 0 N e w Y o r k 4 s , 19G 1, a t 1 0 1 2 4 , a n d
$ 6 , 0 0 0 V i r g i n i a 6 s d e f e r r e d t r u s t r e c e ip t s a t 5 1 .
T h e v o l u m e o f b u s i n e s s in r a i l w a y a n d in d u s t r i a l b o n d s
h a s d im in is h e d d a y b y d a y a s th e w e e k a d v a n c e d a n d p ric e s
h a v e g e n e r a lly b e e n s t e a d y .
A m o n g t h e e x c e p t i o n a l f e a t u r e s , L o r i lla r d 5 s a r e c o n s p i c u
o u s fo r a n a d v a n c e o f o v e r 5 p o in t s .
L ig g e t t & M y e rs 5 s ,
N e w Y o r k R y s . 5s a n d S t. P au l c o n v . 4 3 ^ s are a p o in t or m o re
h ig h e r t h a n l a s t w e e k .
N o r th e r n P a c ific , R o c k Is la n d a n d
T h i r d A v e . is s u e s h a v e s h o w n a t e n d e n c } * t o w e a k n e s s .
O th e rs h a v e b e e n s te a d y .
U n i t e d S t a t e s B o n d s .— S a le s o f G o v e r n m e n t b o n d s a t th e
B o a r d a r e lim ite d to $ 1 ,0 0 0 3 s , c o u p ., a t 1 0 2 , a n d $ 2 0 ,0 0 0
3 s , r e g ., a t 1 0 2 2 4 to 1 0 2 2 4 T h e f o llo w in g a r e th e d a ily
c lo s i n g q u o t a t i o n s ; for yearly range see third page following.
and
s o m e k i n d s o f f in i s h e d p r o d u c t .
T h e m a r k e ts h a v e , h o w e v e r , b e e n e x c e p tio n a lly d u ll.
T h is
f a c t m a y b e a t t r i b u t e d , in p a r t a t l e a s t , t o t h e p e c u li a r p o
li t ic a l
s it u a t io n .
A lth o u g h
th e
la t t e r
has
been
le s s t h i s w e e k t h a n o f l a t e , it u n d o u b t e d l y h a s
d is c u s s e d
a ten d en cy
t o r e s t r i c t o p e r a t i o n s in f in a n c ia l a s w e ll a s t r a d e c ir c le s .
The
G overnm en t
rep ort
of
in te r n a tio n a l
tra d e
fo r
June
a n d f o r t h e fis c a l y e a r , is s u e d e a r l y in t h e w e e k , is a m a t t e r o f
c o n s i d e r a b le in t e r e s t .
A l t h o u g h e x p o r t s fe ll o f f a g o o d d e a l
in J u n e , a s c o m p a r e d w i t h p r e v i o u s m o n t h s , t h e v o l u m e o f
b o th
e x p o r t s a n d i m p o r t s f o r t h e y e a r w a s v e r y la r g e a n d
t h e b a l a n c e in f a v o r o f t h is c o u n t r y h a s r a r e ly b e e n e x c e e d e d
— in f a c t o n l y t h r e e t i m e s in o u r h i s t o r y .
A ll th e fo r e ig n b a n k w e e k ly r e p o r ts a n d m o n e y m a r k e t
c o n d itio n s a b r o a d sh o w fu r th e r p ro g re ss to r w a d s n o rm a l
c o n d itio n s th e r e .
T h e lo c a l fin a n c ia l s i t u a t i o n is p r a c t i c a l l y
unchanged.
T h e o p e n m a r k e t r a t e s f o r c a ll lo a n s a t t h e S t o c k E x c h a n g e
d u r i n g t h e w e e k o n s t o c k a n d b o n d c o ll a t e r a l s h a v e r a n g e d
fro m
2 @ 3 % .
T o - d a y ’ s r a t e s o n c a ll w e r e
2j / £ @ 3 % .
C o m m e r c ia l p a p e r q u o te d a t
f o r GO t o 9 0 - d a y e n
d o r s e m e n t s a n d f o r p r i m e 4 to~ G m o n t h s ’ s in g le n a m e s a n d
5 @ 5 M % f o r g o o d s in g le n a m e s .
T h e B a n k o f E n g la n d w e e k ly s t a t e m e n t o n T h u r s d a y
s h o w e d a n in c r e a s e in b u l l i o n o f £ 5 7 3 , 9 9 4 a n d t h e p e r c e n t a g e
o f r e s e r v e t o l i a b ili t ie s w a s 5 0 . 9 8 , a g a i n s t 5 0 . 2 3 la s t w e e k .
T h e r a t e o f d i s c o u n t r e m a i n s u n c h a n g e d a t 3 % , a s f ix e d
M ay 9.
T h e B a n k o f F r a n c e s h o w s a n in c r e a s e o f 1 2 , 0 7 5 , 0 0 0
f r a n c s g o ld a n d a d e c r e a s e o f 2 , 1 0 0 , 0 0 0 f r a n c s s i l v e r .
NEW YORK CLEARING-HOUSE 13AN ICS.
(Not including Trust Companies.)
1911.
1912.
A vera ges fo r
w e e k e n d in g
July 13.
Capital..........................
Surplus .............. .........
Loans and discounts...
Circulation.... .............
Net deposits..................
Specie . . ....................
Legal tenders................
Reserve held................
25% o f deposits______
Surplus reserve........
$
131.650.000
195,518.500
1.401.001.000
46.074.000
1.425.267.000
278.149.000
79.390.000
D iff e r e n c e s
fr o m
p r e v io u s w e e k .
$
Dee.
Dec.
ijcc.
Dec.
Inc.
20,917,000
190,000
33,801,000
9,662,000
2,647,000
357.539.000 Dec. 7,015,000
3 ,6,310,750 Dec. 8,450,250
1,222,250 Inc.
1,435,250
1910.
A vera ges fo r
w e e k en d in g
A vera ges fo r
w ee k e n d in g
July 15.
July 16.
S
1
S
135.150.000 132,350,000
190,141,300 189,131,400
1.400.612.000 1,188,473,400
47.206.000
48,460,700
1.430.401.000 1,177,110,200
285.312.000 252,621,700
78.019.000
08,798,500
363.331.000
357,600,250
321,420,200
294,277,550
5,730,750
27,142,650
Note.—The Clearing House now issues a statement weekly showing the actuacondition of the banks on Saturday morning, as well as the above averages. The
figures, together with the returns of the separate banks and trust companies, also
the summary issued by the State Banking Department giving the condition of
State banks and trust companies not reporting to the Clearing House, appear on
the second page preceding.
F o r e i g n E x c h a n g e . —- S t e r l i n g e x c h a n g e r u le d f ir m t h r o u g h
o u t th e w e e k .
B o t h f in a n c e a n d c o m m e r c i a l b i ll s w e re
scarce.
To-day's (Friday’s) nominal rates for sterling exchange were 4 85 for
sixty days and 4 88 for sight. T o-d a y’s actual rates for sterling exchange
were 4 8405@ 4 84 % for sixty days, 4 8750@ 4 8760 for cheques and 4 8790
@ 4 88 for cables. Commercial on banks 4 88 @ 4 84 'A and documents for
paym ent 4 83 % @ 4 85 A . Cotton for paym ent 4 84 'A ® 4 85 and grain for
paym ent 4 84% © 4 85.
The posted rates for sterling, as quoted b y a representative house, were
not changed during the week from 4 85 for sixty days and 4 88 for sight.
T o-d a y’s (Friday’s) actual rates for Paris bankers’ francs were 5 20 less
1-10® 5 20 for long and 5 17 'A less 1-16@ G 17 % less 1-32 for short. Ger
many bankers’ marks were 94 11-16@94 % for long and 95 3 -1 6 @ 9 5 % less
1-32 for short. Amsterdam bankers’ guilders were 4 0 % @ 4 0 % plus 1-16
^ E x ch a n g e at Paris on London, 20f. 24 H e.; week's range, 25f. 24 'Ac. high
and 25f. 24c. low.
,
,,
„
Exchange at Berlin on London, 20m. 48 % pf.: week s range, 20m. 48 'APfhigh and 20m. 48pf. low.
The range for foreign exchange for the week follows
Cheques.
Cables.
Sterling, Actual—
Sixty Nays
4 88
4 8760
High for the week . . 4 8475
4 8775
4 8730
Low for the w e e k __ 4 8400
Paris Bankers' Prunes—
5 17 V* less 3-32 5 17 V*
High for the week___5 20 less 1-16
Low for the w e e k __ 5 20
5 17 V* less 1-32 5 16 J* less 1-16
Germany Bankers' Marks—
High for the week___ 94 11-16
95 5-10
95 %
95 3-16
L ow for the week . . . 94 5*
65 Vi
Amsterdam Bankers’ Guilders—
High for the week—
40 V*
40 5* plus 1-16
40 V*
40 %
40 V* plus 1-10
Low for the week . . . 40 1-16
DOMESTIC EXCHANGE.— fChicago, 15c. per $1,000 premium. Boston,
par. St. Louis, 20c. per $1,000 discount. New Orleans, commercial, 25c.
per $1 000 discount and bank $1 premium. San Francisco, 40c. per $1,000
premium. Savannah, buying, 3-10% discount, and selling, par. St. Paul,
45o per $1,000 premium. Montreal, 02V*c. discount. Charleston, buy
ing par-selling, 1-10% premium. Cincinnati, 15c. per $1,000 premium.
2s,
2s,
3s,
3s,
4s,
4s,
2s,
3s,
1930 ____ __ registered
1930_____ -------- COUPOP
1908-18 . . . __ registered
1908-18 . . . ____ coupon
1925 ____ __ registered
1925_____ .......... coupon
1936.Panama Canal regis
1961 .Panama Canal coup
Interest
Periods
July
13
July
15
July
16
July
17
July
18
July
19
Q —Jan
Q—Jan
Q— Feb
Q—Feb
Q— Feb
Q— Feb
Q— Feb
Q—Mch
*100%
►
100%
*102
*102
*114
*114
*100V*
*101%
*100%
*100%
*102
*102
►114
►114
*100%
►101%
*100%
*100%
‘ 102
*102
*114
*114
*100%
*101%
*100%
*100%
*102
102
*114
*114
*100%
*101%
*100%
►100%
►102
►102
*114
►114
►100%
►101%
*100%
*100%
102%
*102
*113%
*113%
*100%
*101%
* This is the price bid at the morning board; no sale was made.
R a ilr o a d a n d M is c e lla n e o u s S t o c k s .— T h e s to c k m a r k e t
h a s b e e n d u ll a n d g e n e r a l l y s t r o n g t h r o u g h o u t t h e w e e k .
T h e tr a d in g h a s b e e n a lm o s t w h o lly o f a p r o fe s s io n a l c h a r
a c t e r a n d t h e u s u a l f a v o r i t e s in s u c h a m a r k e t h a v e b e m i
le a d e r s , in c l u d i n g S t e e l , R e a d i n g , U n i o n P a c i fi c a n d A m a l
ga m a ted C opper.
G r e a t N o r th e r n h a s a ls o b e e n m o r e a c t iv e
th a n usu al a n d a d v a n c e d o v e r 5 p o in ts .
R e a d i n g is 5 p o i n t s
h i g h e r t h a n l a s t w e e k , U n i o n P a c i fi c 4 2 4 a n d S t e e l 3 .
A lo n g
li s t o f a c t i v e s t o c k s h a s a d v a n c e d f r o m 2 t o 3 2 4 p o i n t s
w i t h i n t h e w e e k , in c l u d i n g C a n a d i a n P a c i f i c , N o r t h e r n P a
c if ic , N e w Y o r k C e n t r a l , L e h ig h V a l l e y , C o n s o l i d a t e d G a s ,
G en era l E le c tr ic , A m a lg a m a t e d C o p p e r , S m e ltin g & R e
f in i n g a n d s o m e o f t h e t o b a c c o is s u e s .
S t. Paul has been
n o t a b l y s t r o n g a n d s u b s t a n t i a l l y r e c o v e r e d f r o m it s l a t e
d e c lin e .
N o a c t i v e is s u e s in e i t h e r g r o u p c lo s e w i t h e v e n
a fr a c tio n a l n e t d e c lin e .
For daily volume of business see page 1 6 7 .
T h e fo llo w in g sa le s h a v e o c u r r e d th is w e e k o f sh a r e s n o t
r e p r e s e n t e d in o u r d e t a i l e d l i s t o n t h e p a g e s w h ic h f o l l o w :
STOCKS.
Week ending July 19.
Sales
for
Week
Range for Week.
Lowest.
Highest.
Range since Jan. 1.
Lowest.
Highest.
60C 1% July 15 1% July 17
1% July 2%
AUis-Chal reets 1st paid
10C 96 July 18 90 July If 91% Jan 9S
Am Brake Shoe & Fdy.
lot 95% July 16 95% July If 96% July 98
Amer Coal Products___
Feb 225
4( 212 July 1$ 215 July If '00
American Express_____
Jan 11%
8
8% July 16 8% July If
10(
Brunswick Terminal__
Jan 119
28£ 118% July 1C 119 July 17 105
Buffalo Itoeh & P itts...
Jan 24%
10( 20 July 13 20 July l: 17
Chicago & Alton.......... .
July 144
20( 126 July If 128 July l: 126
Chic St P M < t O ..........
101 74% July 16 74% July If 74
May 76%
Colorado & Sou 1st pref.
June 71
10( 71 July If 71 July If 67
Second preferred____
Comstock Tunnel_____
20( 10c. July 1!- 10c. July P 10c. Api 16c.
Detroit U nited_______ 1,141 70% July If 74% July If 63% Jan 74%
20< 95 July 18 95 July If 90% Jan 95
E I du Pont Powd, pref.
1( 95 July If 95 July If 95
July 95
Federal Sugar Ref, pref.
Jan ICO
10< 160 July 13 160 July l: 128
General Chemical........
P 111 July 18 111 July If 106% Mel) 111
Preferred__________
lot 90 July 17 96 July 1 86% Mch 96%
Homestake Mining___
40( 50 July 1! 52 July If 50
July 63%
Int Agric Corp vot tr ctfs
July 99
30( 95% July 15 96 July P 94
Preferred vot tr ctfs.
July 76
60< 70 July 15 76 July If 70
Knicker Ice (Chic), pref.
40( 53 July If 53% July 17 43% Feb 54%
Long Island__________
20(
% July 13
% July l:
May Dept Stores rights.
% July
J5
1,481 101 July 13 102 Jilly If 100 June 102%
M Rumely, pref---------101 47% July 13 47% July l: 46
July 55
Norfolk Southern-------10( 169% July 19 169% July P !69% July 170
Pitts Ft Wayne & C h ...
Feb 103%
15( 101% July 15 101% July If 101
Pitts Steel, pref............
. Jan 8%
6 July 18 6 July If
10(
Quicksilver Mining___
3
g:
St L & S F—C * E III
£ 51 July 18 51 July If 50 T July 57
new stock tr ctfs .. . .
Jan 124%
6C 122% July 17 122% July 1 121
Spars, Roebuck * Co, p!
*4 June
July 1>
12(
% July 18
%
U S Rubber rights-------20< 55 July 18 56 July 18 54 -, ►Mch 90
Virginia Iron, Coal & C.
May
Apr
June
Apr
May
July
Apr
Jan
Jan
July
Feb
July
July
July
July
Feb
May
July
June
July
June
July
July
May
June
June
Apr
rFeb
Feb
June
Jan
O u ts id e M a r k e t .— T h e o u ts id e m a r k e t th is w e e k w a s a
s m a l l a f f a i r , t r a d i n g b e i n g in li m i t e d v o l u m e .
T h e general
to n e w a s s te a d y .
S a l e s o f B r i t i s h - A m e r . T o b a c c o fe ll o f f
m a t e r i a l l y , t h e p r ic e a d v a n c i n g a b o u t a p o i n t t o 3 2 % , t h e n
r e a c t i n g t o 3 1 % a n d f in i s h in g t o - d a y a t 3 2 .
U n it e d C ig a r
S to r e s so ld d o w n fr o m 2 5 3 to 2 4 5 a n d u p to 2 5 1 ; t o -d a y
o n a h e a v y d e m a n d t h e s t o c k a d v a n c e d t o 2 G 0 % , c lo s i n g a t
260.
B . F . G o o d r ic h c o m . im p r o v e d fr o m 7 7 % to 7 8 , b u t
d r o p p e d to 7 5 .
T h e p re fe rre d w e n t d o w n h a lf a p o in t to
l O S 'a a n d u p to 1 0 9 % , m o v in g b a c k fin a lly to 1 0 9 .
In ter
c o n t in e n t a l R u b b e r c o m . so ld a t 1 3 .
J u li u s K a y s e r & C o .
c o m . a d v a n c e d f r o m 8 6 t o 8 8 , t h e p r e fe r r e d i m p r o v i n g f r o m
1 0 8 to 1 1 2 % a n d r e a c tin g to 1 0 9 J 4 L e h ig h V a lle y C o a l
S a l e s w a s t r a d e d in a t 2 4 2 .
L o o s e - M ile s B i s c u i t c o m . m o v e d
u p fr o m 4 0 2 4 to 4 2 2 4 T h e 1 st p r e f. flu c tu a t e d b e tw e e n
1 0 2 2 4 a n d 1 0 2 % , r e s t i n g f in a lly a t 1 0 2 % .
M a n h a tta n S h irt
g a i n e d a p o i n t t o 5 8 2 4 a n d c lo s e d t o - d a y a t 5 8 % .
T h e pre
fe r r e d r o s e f r o m 1 0 0 2 4 t o 1 0 0 2 4 S t a n d a r d O il o f N . J .
a d v a n c e d fr o m 3 8 7 to 3 9 2 , re c e d e d to 3 8 9 a n d e n d s th e w e e k
at 390.
V e r y f e w t r a n s a c t i o n s in b o n d s w e r e r e p o r t e d .
W e s t e r n P a c ific 5 s w e a k e n e d f r o m 8 3 2 4 t o 8 3 2 4 Am ong
c o p p e r sh a re s B r a d e n C o p p e r w a s a c t i v e , a n d a fte r w e a k e n in g
fr o m 7 to 6 2 4 ra n u p to 7 24B r it i s h C o l u m b i a w e n t u p f r o m
5 2 4 to 5 J 4 a n d d o w n to 5 2 4 G ir o u x im p r o v e d fr o m 4 2 4
t o 4 1 5 - 1 6 a n d c lo s e d t o - d a y a t 4 % .
G r e e n e -C a n a n e a ro se
fro m 9 2 4 to 1 0 .
M a s o n V a lle y g a in e d o v e r a p o in t to 1 3 % .
O u t s i d e q u o t a t i o n s w ill b e f o u n d o n p a g e 1 6 7 .
New York Stock Exchange— Stock Record, Daily, Weekly and Yearly
O C C U P Y IN G T W O PA G E S
____________________ For record of sale* during the week o» stock ; m in i! * in-WIvc. see orecedirv*
STOCKS—HIGHEST AND LOWEST SALE PRICES.
Tuesday
July 16.
Wednesday
July 17.
Thursday
July 18.
Friday
July 19.
•sates 01
die
Week
Shares
STOCKS
N E W Y O R K STOCK
E XC H A N G E
oks".
Range since January 1
On basis 0/ 100-share lots
Range lor Previous
Year 1911.
Highest
Highest
Railroads
107% 108% 10734 108% 108*8 1083, 108l2 1087s 18,501
tch Topeka & Santa Fe 103% Feb
9978 Sep 116% J ’ne
110% Apr
*10234 103
102% 1027{ 102% 103
10273 103
1.441
101% Feb K 100*4 Jan
101% Jan
105% J no
Do
p r e f _________
140 140
139% 140 *1393., 141 % 140 14l
l,10i
117 Jan
143%.
Apr
1331s
Jan
10
139% Nov
109 109
10834 109% 109% 109*4 109% 1093.; 4,622 Atlantic Coast Line U K . rl01% Feb
13% Sep 109% J ’ly
111',s Apr 3i
I
Baltimore
&
O
h
io
..
877S 877.
8734 873., 88
88
*87
88
40
87%
J
’ly
1
85%
A(IV
91
Jan
2.:
91 Jan
Do p r e f ..........
921., 923,
91% 92% 92
92% 92% 921 18.98 ' ’
7634 Jan 2 94% J ’ly 1
72 Sep
84*8 J ’ly
265% 266
264% 265% 266 2661- 26614 2661 13.301 Brooklyn Rapid Transit
226% Meh
270 May 11 195% Jan 247 J ’lv
( 'anadtan P acific_____ ’ 305
■370 395 *370 395 -370 395 <370 395
Jan
260
Aug 320 Deo
395 Apr 2
79*4 803* 80% 81% 80% 81% S012 81
13” 23." ' entral of New Jersey ’
68% Feb
65%
Sep
86*4 Feb
81% Apr 11
*10
17
16*4 17
17
171,
17% 171
8(5 Chesapeake & O h io .. *
16% J ’ly 11 20%. Apr
1/ Scd
25% J ’ne
*31
341s *32
34
33% 331.
33
33
30i Chle Gt West trust ctfs__
3f7s J ’ly 11 39%. Apr
35% Dei
49% Feb
100% 1019 100% 102/8 102 10234 102 104% 43.481
P ° Orel trust ctfs____
9. 38 J ’ly I
11234
Apr
10534 Oct
133% Feb
*140 141 *140 141 *140 141
141 141
3(» Chicago MIIw <fc St Paul
Do p ref.
'" 140 J ’ly 1 146 Jan 2 141 Sep 155% Feb
135 135
137 138% 138 138'
135*8 136
4,201
J ’ly 1 145 Apr 2
138% Sep 160% J ’ ne
*180 195 *180 190 *180 195 <180 190
Chicago & North WeVtern 134%
190 May
198 Meh 2i
191 Nov >209 Jan
Do pref_______
*2
*2
21.. *2
2121.
*2
21
..7g Apr 1
1% Feb 10
IV Sep
33* Feb
Chic
On
Trao
ctfs
"strnpd
*5% 7
7
*5% 6% *5
*6
7
4 Meh 21
10% Apr l>
431 Sep
7% Feb
69
Do pref ctfs s t m p d ...
*51
*51% .59
*51% 59
*51% 59
62% Apr 2.
64%
Meh28
48% Sep
66 Jan
Cleve Cln Chic & St L
*99 1013., *99 1013j *99 101* *98 1013
§957g Feb 24 101% Apr 11
94%
J
ly
98
Feb
Do
pref___
■166 168 *166% 168
167 167 ■167 1681
701
106 J ’ly
176% Feb .
16'Ji- Sep
1747s j ’ ne
D elaw are & H u d s o n * " 535 J'ne
‘525 536 *525 536 *525 636 ■525 536
569 Jun 2!
606 ' Sep 570 N ov
*18% 19
1
rplawme
Lack
A
West*
19
19
19
19
19% 191
6<V
18% J ’ly 12 24 Mcll r.
17% Dec
35 Feb
35% 35% 35% 351. *35% 361. *35% 357S
30< Denver & Rio G r a n d e ..'
46% Jan 2.
34% J ’ ne la
30.% Dec
74 Feb
Do pref____
*8%
9%' *8% 91? *8% 91< *8% 91
40i
11% May it;
8% Meh
i. Nov
15% Mcll
19
*16% 18%. *16
Duluth
So
Shore
&
Atian
*17
181. *16% 20
101
23
Mayl
16
Meh
17%
Dee
30%
Meh
Do pref____
35
34% 34% 34
34% 34*4 34% 35
15.101
30% Jan 16 39% Apr 11
271,1 Jan
58*8 J ’ly
l
u
m
...................:
:
:
:
:
:
:
:
51% 52% 5234 53
53
51*4 52%
531
2,301
50% Feb 3 57-. Apr 11
46-% Jan
61%
J
’ly
42
42
*42
4.3
*42
Do
1st
preferred_
_
431- *43
44
101
40 Feb 3 48 Apr 11
3j Jan
49*4 J ’ly
Do 2d preferred __
135*4 138% 135% 138% 137% 138.% 137 138
35.226
126 Jan 16 138% J ’ ly l
11j Sep
140 J'ne
Great
Northern
pref
'
43
43
42% 43% 43*8 431;
43% 431
2,201;
36 Jan 31 45% J ’ ly
33". Dec
0334 Feb
129 129*4 129% 130
Iron Ore p ro p e rtie s... 1203s May 9 141% Jan 23 132
1303s 1301-. 130% 138?;
1.900
Jan
147 J ’ly
193, 201,,
20% 20%
2018 20% 20% 2(
7,000 I lllnois C e n tra l..............
103s Jan 3 22 J ’ ly
13% Sep
20% Feb
5.8% 58% 5734 580
58% 5Pv 58%
*
uterboro-Metrop
v
t
ctfs
8,200
63% Jan 3 62 Mcll 26
3 j;. Sep
66*8 «riy
Do pref......................
25
25
*24% 25% 2134 24,, *24%
500
22%. May29 29% Meh 2
26% Sep
3738 J ’ne
58% 58% *58
59%
ansas City Southern.
59
59
*56
201
56 ’May-29 65% Mcll 26
61% Sep
09*4 J ’uo
*14
It
*14
17
*14
17
*14
11% Jan 26 18 Apr
. Do
preferred...........
16 Sep
17 N ov
*38
39
38
38
*38
39
*38
201 I akc Erie & W estern ..
40 May2l
30 Jan
25 Sep
40 Jan
166 167
165% 167% 167% 1673, 167*8 168% 29,901
156'8
Feb
Do preferred .
18534 Jan 16 161 Sep
1807s Dec
159% 160% 159*4 1603. 160% 161% r15738 15 '
* 1497g Feb
5.7U) l.ehlirh V a llo y ..
163 Apr
|3U% Sep 16034 nov
*134 136
135 135 *134 135 *134 135%
101 Louisville A N a sh v ille " 134 J ’ne 21 128*4 Meh 13 131% Sep
142% Jan
*18
20
*18
20
*17
20
*18
20
18*4 J ’ne 25. 27% Jan 23
25 A 1 anhattan Elevated
21% Apr
42% Sep
*41
48
*40
48
*40
48
Inneapolis & s t Louis §40 Feb 26 §57 Jan li
35 Meh
68% Sep
14612.1473.1 147% 148% 146% 14734 5,475
129 Feb
Do preferred_____
148% J ’ly li 11243, Sep
152% Meh
153 156
154 155 *152 155
101 Minn St P A S S M a rie..
147% Feb
156 J ’ly l.
140
Nov
160
Mcll
*80
89
§87% 87% 87
87
250
Do preferred_______
860. May21 §8878 Jan 1
87% J ’ ly
00% Mcll
267* 27% 27% ♦263.J 27% 1,701
*26
255S J ’ly 1,
Do leased line ctfs
31% Meh 2
27 Sep
58% J’ no
*59
60% *59
60% *59
601
101 Mo Kansas A Texas____
573s May.'l
i.2*.| Sep
66 Apr 1
70 Oct
35% 36% 36% 33; 3 35*4 3 63, 5.461
Do preferred..
'
35 J ’ly 12 4734 Mcll 2
33% Sep
03 Feb
*66
69
*66
Missouri Pacific
63 Mayl7
60 Aug
71 Jail
72*8 Jan
31
31
*3034 31% *31
31% 3134 32% 32
32
31% 311,
1,701 M a t H y so f Mex fs t ’pr'ef 28 Apr
25 .3 Aug
3678 Jan 20
38*8 Fell
114 114 ►
113% 11434 114% 114% 11434 115% 115% 115% 11573 116
1,301 |
Do 2d p re fe rre d ... 106% Jan
121%. Apr 25 r907s Sep
1151? Feb
♦133 135
—
— *133 135 *133 135
135 135
135 135
200 £ v £ e1n,tr.al * D u d son .. 134 J ’ne 18 142% Apr
12373 Sep
151%
Feb
321*| 32% 32% *32% 32% 32% 33
33
33
32% 32.%
825 N X
297s J ’ne 2;
fl * H a r t fo r d ...
3734 Sep
41*s Apr 12
40% J ly
J *8812 89% *88*4 8934 *88% 8934 89% 89% *89
90
*89
90
101' XT y, 9.ntarl° & W estern.
867s j ’ne i
9.3, Apr 21
1 118 115*4 11534 117
116% 117
116% 11738 1167s 1173„ 11634 117% 23,931 N
Y
State
Hallways____
i 10734 Feb ] 117% J ’n e2,
'99% Sep* iii% *N ov
♦88
89
__ _ ___ *88
90
§89
89
*88
90
*88
90
Id Norfolk A V\ cstern
* 88 j ’ne l:
92 Feb 17
853,, Apr
9li., J'ne
*59
62
61% 61% *60
623. 623.1 *62
61% 617S 62
63
500
Do adjustment pYe’t "
56 Meh 11 67% Apr It,
39%. Jan
5534 N ov
118% 119
119 119*4 120 120% U934 1217s 121% 122% 121% 122
23,701, Nor Ohio Trac A L i g h t " 115% Jan 15 125% Apr (
1163.1 Sep 1377x J ’na
1233.J 12.$3| 123% 123% 1231s 123% 123 123% 123% 123% 123% 124
Northern P a c ific ..
"
126% May 2 il83, Sep
122% Jan
130% Feb
♦106*4 108% rl07% 107% ►106 107% 107 107% 107% 108% 108 108% 11,966
2,300 P enn sylvania______
98% Jan
110% May 26
90% Sep 100 Jan
♦109% 117 ►109% 117 ►
109% 117 *109% 117 *109% 117 *109% 117
Plttsb Cln Chic A St L
11/ Feb 20 1021,3 Scd 112 Feb
108% Jan
16034 162
161% 162% 162% 163% 1623s 10538 10!% 165% 16434 1663> 221,325
Do preferred____
131 Sep
148% Jan 11 179% Apr 2
1017s J ’ne
uo
89
89
*89
89% +88
89% 89% *89
891.,
92
|> e n d in g ....................... "
031., Apr 2
87% J ’n e2
88 Meh
92 J ’ly
♦94
98
*94% 98
*95
97% *95
9719 *95
90
96
96
10( l v
1st preferred.
"
901"
Sep
101%
Apr
21
94
Jan
11
101 Mav
24
24
24
23%
23% 24.% 24% 24% '2434 247* 4,350
23% 24
2d p re ferred .il
223, Sep
22%. May31 30%. Apr
3433 J’ ne
*48
49
48
49% 47% 48% 48% 4834 48% 48% 48% 483,, 3,725 Rock Island Company
433j Dee
47% J ’ly 16 59.% Apr
68% J ’no
*23
25
*22% 25
2434 243,
*23
25
*23
*23
25
25
101
Do preferred
2134 May22
29% Meh 26
23 Dec
27 Oct
*63
66
*62
66
*62
64
*62
*63
66
*61
65
64
C t L ouI j A San F r a n * " 61 May 10 09% Jan 2..
59 Sep
09% J ’ly
36*4 3738 3 634 3634 *36% 37
37% 373* 1,50b kJ Do 1st preferred. "
3614 36% 36% 37
433, Apr 11
35% May.>l
37 Sep
496. J ’ly
♦31
33
*32
*30
33
*30
*32
33
33
33
*31
33
Do 2d preferred____I
2934 Jan 22 31% A pr 2
24 Jan
31 Feb
*72
74
*72
74
74
*72
73
74
73% 73%
*72
73
20C St Louis Southwestern**
5934 Jan
68% Jan 1
77% Apr 8
72 J ’no
*22% 22% 2234 22% 2234 227,. 22% 227,, 23
23% 23% 23% 2,20b
Do preferred____
"
22% J ’ly 12 27%. Apr 4
52
52% *52% 52*4 *52
5210 52% 62% 5234 527* 53
53%
1,45b Seaboard A ir L in e ___"
50*8 Apr 16 56%. J ’ne 7
108% 108% 108% 108% 109 109% 109 110% n o 110% 110% IRE.
7,101
Do preferred___
** 105% Feb 1 115% Apr 8 iu4% Sep
1211*8 J'ne
28% 2812 28% 28% 283., 29
2878 291,,
28% 29% 2878 29% 9,70b Southern Pacific Co
20% Jan 31 31% Apr l
211j Sep
33% J ’ly
7634 76% 7634 76*4 77% 773S 77% 77% 77% 77% 77% 2,351 Southern v tr ctfs stm'pd*
*76
08% Feb 4 7734 J ’ly 8
61% Jan
75% J ’ly
♦21% 22
*21% 23
*21% 23
*21% 22V 22% 22% *22% 23
10b
Do pref
do
* 20%Jan 3 26% Apr 2
19/S Dec
30% Feb
37
37
36% 36% *36% 37
37
377g 2,090 'T e x a s A P a cific..
3,% 3734 3734 38
35%
J
’ly
1
49*4
Jan
9
31
Nov
41 Deo
6
6
*5
5% 5% *5% 6
5% *5% 6
101 1 hlrd Ave New . .
t o '2 14% *5
3 Jun 15 lo*3 Apr 16
4 N ov
8% Jan
*13
1334 1334 1334 14
*13
14%
14% 14
14
14
8 ll Toledo Railways A Lt
1234 Meh 4 10% Meh 27
12 Dec
243., Feb
*29
30% 29% 29% 29% 2934 §29% 29% 2634 30
31%
29%
1,825 T oledo St I. A Western
537s
Jan
3473
Dec
30
Apr
8
28
J
’no
7
*107 n o 5107 107
108 108 ►108 108% 108 108 ►
108 10!.'?
Do prc;erred._
** 104% Jan 6 109 M aylo 104 Sep i l l Feb
786
16334 165
164% 105% 16534 166% 165% 168
167% 168% 167% 16919 U9,10b Twin City Rapid Transit* 160 Feb J 175-% Apr 6 153% Sep 102*8
J'ly
*yu
90% §90
90
90% 90% 90% *90% 90% 90% 91
*90
711
nion PacKlc............
893, J ’ly 11 93% Feb 27
89 Sep
96 J ’ly
*28
30% *28
283., *28
31
*23
31
31
*28
*28
31
Do preferred.
28% Sep
28 J ’ly 11 37% Feb 1i
49 Feb
*56
58% *56
58% *50
58% *56
53% 57
57
*55
58%
10b Unit R ys ln v ’ t of San’ Fr
62 Sep
57 J ’ly 18 65% Feb 14
76% Mcll
Do preferred..
41 Jan 4 60 Apr l
37 Sep
45 Apr
4% 4% *4% 4%
4% 4%
41,
4
4% 4% *4
4%
1,80( Vlrginh i.y a Power
63, M ayll
334 J ’ne 19
33.] Dec
18% Feb
14
14
14
14% 14%, 14
H%
14%
137g 14
13% 13% 3,101
abash .........
"
12% J ’ne 27 22% A pr !
14%
Dec
40%
Feb
66% 56% 57% 57*4 58
58% 58% 58% 5878 587s *57% 59
1,601
553, Jan 9 04% Men 25
Do preferred I
487g Apr
60 J'ly
♦5
6
*5% 6% *5% 7
5% 5%
6
6%
6% *6
401 Western Maryland R y
9%
Men
16
4
Jan
10
2%. Sep
6%
Feb
♦17
17% 173, *17
}8%
19
*17
19
*19
22
17% 18%
40b
Wheeling A Lake Er e " * 11 Jan 3 25/3 Apr la
7 Seo
17% Feb
*8% 10% *8% 10% *8% 101*8% 10
+8% 101;. *8% 10
Do 1st preferred "
6 Jan 19 14 Meh 13
3 Auc
8 Feb
*61% 54*4 *51% 55
*51% 55
*52
65
51% 517S *51% 55
201
Do 2d preferred
”*
48 Feb 6 67% Apr 8.
43 Sep
2% May
Wisconsin C e n t r a l . I " I !
*200 210
200 200
200 200 *200 205 ►200 205 ►200 205
201 Indiisti iai&M iscel'ancou? >191 Meh 12 §217% Apr 18 198 Nov 245 Apr
80% 81*4 81% 82179% 80%
81% 823,| 82% 83% 83% 841, 111.351
dams Express..............
60 Feb < 88 J ’no .
44*., Sep
71% J’ne
*60
61% *60
61*8 61
613., G07S 60% 61
61
61 >8 613.
1,401
ma gamated Copper
58% Feb 27 03% Men22
44*. Sep
63% Deo
*95
*93 101
*93 1001,
98 100
10018 1001" *9S3,i 10011,001 Araer Agricultural Chem
98 J ’ly 17 101% Meh 20
99% Oct 105 Deo
71*8 72% 72*8 7234 73
731.
733,1 73% 73..s 73% 74
73
Do pref______
4,951
53 Feb 26 70 M a yll
693., Oct
59% Jan
*98% 99
*98% 99
*98% 99
*9»!2 99
*98% 99
*98% 99
American Beet Sugar. I
97 Apr 3 101% J ’ ne 1
926. Jan
101 Oct
3534 36*,., 36% 37% 36% 37
363S 37
36% 37
30% 36/v
Do pref..... ............ ..
32,00(
11% Feb 1 4.1 M a yll
12% May
87g Jan
Ii7i2 U74: 117% 117% 117 117% *116% 117% 117% 117% 117% 1171American
Can____
2 ,10(
90% Feb 1 121%. M a yll
77 Jan
931,8 Deo
*56% 57*2 5b >3 57
57
57% *563,s 57% 57% 577,s 57% 58
Do pref..........................
2,401
49 Feb 5 01% Apr s
681., J ’ ly
42*8 Sep
*116 118 <116 118 ►116% 118
U61o 1161.. *116% 118
116% 117
371 American Car A Foundry 115 Feb 14 120 May2
129 May
i l l Oct
*32% 3319 §82% 32% §32% 321-. 32% 3219 33
33%
*33
33
Do pref______________
277
313, j ’ne 14 31 J ’ly 2
*78% 79
418% 78% *77
79
78% 78% *7734 78% *7734 785,
223 American C itie s________
78%. j ’ne 25 831.3 J ’ne 2.
61% 511? 51% 52
*5134 53% *52
5234 527s *523s 53
53
80b
Do preferred______
45% Jan 19 57% May ;
6238 Feb
41% N ov
♦95 100
*34*8 102
*94%
*94%
*94-% 102%
*95 100
101 American Cotton Oil____
95 Jan 19 99% Feb l.i
92 Nov 105% Feb
*47g 5
*4% 5*8 *4% 51.. *47S 5% *434 5
5
5
Do pref..........................
10b
3 Feo 19
31;. Sep
6%. M ayio
6 Jne
*24% 26
*24% 26
*24% 26
*24% 25%
*24% 26
*£*; 4 26
American
Hide
A
Leather
20 Feb 26 276. M aylo
18 Sop
26% J'ne
25
2»> *24% 26
25
25
25% 25%
25% 25I-. 25% 26
Do pref______________
901
12%
Aug
18
Jan
2
253.,
J ’ly
30*.,
M
ay.o
1312 13%
13% 13% 1334 1334
1334 133., 1,101 American Ice Securities.
13% 133.,
5 Aue
9 Meh 0 177g Apr 23
12' Feb
34% 35
*34% 36% *33% 37
*34
*33
36
37
*34
37
70( American Linseed .
26% Oct
30 Feb 20 43 Apr 23
34%
Deo
*41% 42
41% 41% 41% 411.
433.
4234
41% 42%
427s 43
Do pref........................ I
1,95(
22% Oct
31*4 Feb 27 44*4 A pr 6
43% May
*108 1083., "IU7 109 *108 10834 *107 109 *108 1083., }108% 1083,
ll,
American L o co m o tiv e ...103 Jan 16 110 Apr 8 102 Oct 110*4 Meh
Do pref________
A
K
U
W
A
BANKS
Banks
New York
A e t n a ______
A m erica ]|__
A raer E xch .
B a ttery Fit
Bow ery]|___
B ron x Borol
B ro .ix Nat
B ry a n t Pk 1;
ButCll 3: Dr
C en tu ry
C h a s e ______
bli.
Ask
200
620
238
125
400
300
175
150
130
6230
675
207
630
242
130
___
_ _
1811
155
140
—
AND
Banka
Hia Ask
Chat&Pncnlx ISO 135
___
Gueisea Ex] 1150
neinlcal __ 442% 447%
Citizens’ Ob 180
185
Mty............. 415
425
Coal & Iron 155
160
__
Cotonla 1%. 425
Columbia V 335
350
Commerce . r i9s% f IU8I.1
Corn Ex ]|_. 322
325
East River.
95
Fidelity ]|__ 165
175"
TRUST
Banks
Fifth A veli.
El th .........
first ______
F o u r th ____
G a rfield __
lienn-A m 1
ierm ’ n Ext
Germania 1%
Gutham
Greenwich |
.la n o v cr___
C O M P A N IE S — B R O K E R S ’ Q U O T A T IO N S .
Bit
1300
300
1000
20)
275
14.)
425
525
155
250
685
Ask
Banks
Bid
H arrt.na 1 . . 280
3*25" imp & Tran 565
1015 Irving N Ex 200
203
a u e r t y . ... 595
290
..incol 11___ 375
lanhattaul 340
441)" lark’ti&Ful 250
540
lech&.Uet's 260
lerch Kxcn 180
165
Jercnants . 183
700 *
As<
575
__
61l)’
385
3471.
2571261
165
___
Banks
Metropolis *
detropoi 'ill
vlt Morns]].
Mutual li__
va ssa u ___
New .Seth.]
4ewYorUC(Ncw York
Fact tic]]____
F a rk ______
Feopte’s ]]__
,n t
375
190
250
285
200
220
876
340
255
370
240
A.k
3aa
195
260
295
205
Banks
H id
Erou r.xch 1 170
Reserve . . .
90
>eahoard "
425
.e c o n d ____
376
•ecurhy’J " 135
.h etm an..
135
’ tate l i ------- 250
35o" -‘3d Wurd]]
175
265
C ii on E xc. 102
375
>Vash l l ’ ts It 276
250
■vest Side i)
v orkviho ]|. 600
* Bid and asited prices: no sales were made oa this day
1 Ex-rights. s Less th.i a 100 snares.
0 6
New stock.
ISale at Stock Exchange or at auction this week, h First installment paid, n Sold at private 9 State Danas, a Ex-divMentI and rignts 0
sale at this price, x Ex-dividend. I Full paid.
Ask
175
4*0*0*
145
2*7*6"
1*6*8’
650 ’
161
New York Stock Record—Concluded—Page 2
.July 20 1012.j
For record of sties d irlng t'is was'x of stocks usm Uy T o ict’ vo see secvml o ig a orscejl-ig
STOCKS__HIGHEST AND LOWEST SALE PRICES.
Saturday
July 13.
Tuesday
July 16.
Monday
July 15.
Wednesday
July 17.
Thursday
July 18.
Frliay
July 19.
Sales 01
STOCKS
N EW Y O R K STOCK
Vie
Week
EXCHANGE
Shares
Industrial and Misc.(Con)
210 American Malt C orp____
*15l2 18
*15% 18
* 1<»
16
lOlg 161?; 16% 161.) *14% 18
Do pref
451
001- 001;
*60% 61
*60
01
60
60
*59
01
59
59
681 Amor Smelters Sec pret 11
87% 87% *87l2 88
88
88
SSI'
*8712 881 *8? i 2 8812 *88
8312 841; 19,001 Amer Sm elting* Refining
82% Si 34 88% S2% 831;
82
8112 82
80% 811-'
Do pret______________
*10714 1073.t *107 1073.! 107 T0S <107 108 *107 108 ‘ IO7I4 1073j
1,001 American S nuff. .
166% 167% 169 109
165 168 *160 167
*105 170
107 107
Do p ref_____
100 111 *105 111 *105 111 *105 111 •100 1111,
*105 111
Do pref. n e w _______
100 105 *100 105 *100 105 <100 105
100 105
*100 105
301 Amer Steel Found (new ).
*3412 38
34
31
36
34
34
36
*35
*35
30
*35
3,6! (i American Sugar Refining
*12034 1271 1207s 127% 127% 128% 128 1281" 123 129% 12S18 1281,
Do pref_________
101
121 122 •121% 122 •121 122 •121 122
*121 1221 121 121
4,001 American Telenh * Tele?
14 !% 145% 145 1453; 145 145% 145 1453;
144.% Ml'; 145 145
7,575 American T ob a cco_____
294 296P 290% 2971- 296 299
290 295
294 2971 2.1.5 295
Do p r e t _____________
106 109 *106 109 •108 109 <106 109
*10034 108
106 109
('referred, new_______
1,501
105's 1053,
105 105
10434 105
10458 1045; 104 105
1(5 105
30( American W oolen_______
*26
27
28
*25
27% 273.'
*27
29
27
27
271" 271'
Do pref______________
25(
89
89
*88% 91
901 89% 897; §89!" 890 *88% 91
*89
401 Amer Vtrltlng Paper, prl
81% 34% 3434 343
*34
36
35% 34
34
*34
35% *34
41% 4114 413j 7,701 aAnaoondaCoppcr P a ri25
3934 4014 401S 401.
41
401? 40% 40% 41
101 Assets Realization
120 126 •126 I2OI4
*125 126
12234 120 •125 126 *125 126
1,001 B aldw in L ocom otiv e___
5714 68I4
----- ----*5514 58
50
56
57
57
56% 57
1,101 * * Do p r e f __________
----- ----- 106 106
1057s 106
10578 105' 100 100
100 106
3512 36% 4,901 Bethlehem Steel
35% 35% 35134
351
35% 35
34% 347;
35
Do p re t____________
811
68
68
68% '*66
T 677g 077,
68
68
68
08
08
146% 146P <14512 146% 2,151 Brooklyn Union Gas____
*141 144 :14112 144
143 1431- 143 140
Buttericlc
C o____________
101
*3234
3
7
37
*32%
35” *32% 37
337s 337, *34
*3312 341.
5.43' / ’ entral Leather_______
271;
27
203.' 2078 27% 27
*2412 253 525tS 25%
*
Do
pref____________
701
943.,
947,
9478
94195
*92%
91%
*92
93
931;
93
11,790 dChlno Copper____Par 55
3134
313;
31% 31!'
297S 30
30
3014 397s 31% 31
1,025 Colorado Fuel & Iron ___
31
29% 30% *30% 3U;
*28U 30
291s 2; 14 29% 30
Consolidated Gas (N Y ) .
20,101
1463,
145%
140%
145%
141%
145
1461.,
144
142% 1423 H3I4 144
Corn Products R efin in g..
2,301
15% 153,
15%
14% 14% 15
15%
14% 143,
1412 141
Do pref
201
82% 83
*S2
831*81
83
*80% 84
83
*80
83
*80
Distillers’ Securities Corp
32%
891
32%
*31%
3134
31%
3134
32%
32%
3112 311
3114 3H4
Federal .Mining & Smelt’g
21
21
*13
*13
*13
21
*13
21
21
207 *13
*13
Do pref_____ _________
49
49
*45
*45
49
*44
*43
49
49
*43
49
*44
5.801 General Electric____
179% 1801
177 1771. 177 17814 177% 17SS, 178 1781. 179 180
201 Gen .Motors vot t- c t f s ..
33
32% 32% 33
*3H" 33
*31
*31% 33
34
34
*31
Do pret vot tr ctfs__
801
70% 70%
76
76
*75
75% 75%. 75% 76
70
*751S 70
4
4% 3.801 dGold field Con M Par 510
4
4
4
4
4
4
4
4
4
4
4,111 dGuggenh E xp .o.P .tr S25
*53
531
55% 66% 55% 65% 50% 561
535s 5514 55% 559
18% 18% 19% 19% 2.250 d l nsp’n Con Cop Par 520
*1S3S 185;
1S% 18%
185s 18% 18% 187,
4,025 * nt Harvester stk tr efts
118 118
118% 119% 1197s 121% 120 120
118 119
11712 11
Do pref stk tr c t f s __
*117% ___ *117%
<117%
•117% 121 *117%
*11712 121
501. Int Mcr Marine stk tr ctfs
4%
4
*4
414% 4% *4
4
*4
414
4
Do pref______________
*1534 18
17% *10% 18
*l.r>34 173 *157s 17% *157S 17% *16
2,351 International Paper_____
16
10
1412 143.
1638 ic%
16%
143s 145. *15
10
15
Do pref______________
1,250
58%
57
58
57
57
57
68%
57
57
67
5012 57
101 Intcrnat Steam P um p___
28
+26
*25% 28
20
20
L*2512 27
*25% 29
*25l.i 28
Do pref______________
400
81
81
*80
*78
81
*80
*79% 800 *79%
80
81
101 Laclede Gas (St L) c o m ..
*10512 1001 1051o 1001. *10512 1001 *105% 100% *105% 100% 100% 106%
401 Liggett & My ers Tobacco
199% 199% 201 201
198 198
19912 1991; <192 200 *190 198
Do preferred________
348
*11134 114
112% 114 >112% 1123; 1127s 113 *111% 113% 112% 113%
917g 917;
1,140 Mackay Companies_____
92
9214 921., *88
91
92
J8973 897;
*8912 91
Do pref______________
240
*0914 093 $69% O9I4 6933 613g 093,3 69'">; *613g 69% *693s 6934 1,500
May Department Stores.
703g 77%
80
785s 787s *77
SO
*77
80
*7734 79% *77
Do pref______________
108
♦104 1081 104 1081 no4 108 *103% 108 *103% 108 *103%
0934 70
8,33 Mexican Petroleum _____
61)34 70
0!!3,i 701,,
0734 0734 681s 093., 6912 71",
d
Miami
Copper___Par 55
283.i
29
29
29%
12,851
28
29
277S
281
2734 28
2714 27*4
ational lVscult______
145% 146% 5,665
14412 1471 145 1461/j 145 148
ri49 1511' HOIg 149
Do pref___________
70
♦125 1301 125 1301 *125 1301 $130% 1301 j 130% 130% 127 130%
200 Nat Enamel’ g & Stamp’g
10% 16% *15% 17
10% 101;
*1014 101 *1518 101
♦lSU 16
Do pref___
92%
92% *89
921 *89
921; *89
921 *89
*89
921 *88
5878 59
1,200 National Lead
5812 5834 59
503.t 563 *57
573; 5712 57% 58
Do pref___
100
*108%
110%
*108%
110%
*10812
110%
10912 1091 ;10812 IIOI4 *109 110
dNcv Cons Copper.P a r 55
20
2OI4 2018 2OI4 20% 2OI4 20% 20% 20% 20% 6,800
1973 213,
1.700 New York Air Brake____
72
75%
72
*70
“
72
*65
72
*60
*
70
70
701s
81% 8134 2.700 North American Co (new)
8212 8134 82
821s 821g 82
82
82
82
acific Mall
400
32
31% 32
32
32
*31
32
32% 32
*31
900
aclflo Telep & T e le g ..
*48
60
4SI4 4812 4912 49l2 49% 4912 4834 48% 48% 48%
People’s
G L & C (C hic).
8.700
110%
116%
116%
11512 110
110 1101 116 1163s 11578 110% 116
200 Philadelphia Co (Pittsb) _
103 103
*103 105
103 105 *103 105 +10312 105 *103% 105
500 Pittsburgh Coal Co_____
21% 21%
22
*20
22
2138 213g *21
21
21
21
21
Do pref_____________
1,220
*91
92% 9178 92
8912 90
92
9012 9012 9112 91% 92
300 P. Lorillard C o_________
*188 1911$ *18712 - - 190 100 *185 194.% 190% 191 *189 192
Do preferred________
400
*11212 113% *11212 113M *11212 1133; 112 113 *112 113% +112% 113%
150 Pressed Steel Car______
*34% 35%
30
*3-412 35
§3414 34t4 *3414 3014 3512 35% *35
Do prei___________
150
*101 102 *101 102
100% 103
10212 102% 101% 101% *101 102
400 Pub Service Corp of N J
110% 110%
10934 IIOI4 110 110 *10734 111
*109 111 *108 111
210 Pullman Company
10H2 16112 162 162 *16134 102%
*160% 1021;. *160 16212 *160 102
300 1> allway Steel S prin g...
*3334 34
*34% 36
*34
36%
35
34I4 3514 *34
34
34
Do pref___________
*100 103 *100 103 *10012 103 *100 103 *100% 103 *100% 103
10,100 dR ay ConsCoppcr Par $10
197S 20
20*8 2012 2034 2()12 2034 206S 207; 20% 21
20
950 Republic Iron & Steel___
2734
2012 2034 2034 2634 2734 2734 *27
20
28
*2514 26
Do pref_____________
1,800
813s 85's *84% 8534 85
86
841g 80
831g 84
*83
84
1,900 ■Sears, Roebuck & C o . . .
*188 191
190 190 *189 1901, 18934 1893., 189% 190% 18934 192
Sloss-Sneffleld
Steel & l r .
301
55
65%
*54
65
*5312
55
55
*5314
54
*53
55
*54
3234 32
32% 3,53V Standard M illin g.___
~~
32% 32
32
31
30
32
*29
30
*28
Do pref__________
51(
033.4 033,
63t2 03% 03% 64
04
+62
*63
50312 631
65
1,357 Studcbaker Corp (T h e )..
32
31% 32% 32
31
*2934 31% 531
30
30
51
Do pref_____________
*94
95
95
*94
*94
95
§94% 947; *04
*94
95
95
427;
♦4234 43% 4234 43% 42
42% 43% 43% 43% 43% 43% 5,401 dTcnncssec C opp.P a r }25
10,32( Texas Company (T h e)__
128 1291 1287s 1297; 129 12934 129% 130
12014 12714 127 128
200
nderwood Typewriter,
109 114% 1103.4 HO-!., *10012 114 *110 114% 1097s 1097;
*110 114
Do pref____________
♦112 114 *112 115 *112 115 +112 114 +112 114 •112 114
11% 113;
12% 123.,
12% 13% 2,74( Union Bag & P a p e r..
121;
12
1112 1H2 1U2 111
Do pret__________
62%
*57
02
*57
62
*57
02
*5"
, *57
02
United C gar Mfrs___
58
*56
56
*53
58
*50
§50
*53" 58
58
*53
59
Do
p r e f _________
•105 n o *105 110 *105 110
*105 110 *105 110
1,455 United Dry Goods___
101% 1023,/ *102 103
102 1021
166% ioT
101 101
♦10012 101
151
Do
p
ref__________
108%
108%
*107
•107%
108
10734
*107
108
*107
10712
§ 107 107
U S Cast I Pipe * Foundr
*1812 20
185s 185; *18% 20% 18% 18%
♦1812 20%
Do pref______________
*57% 59%
5! 14 58% *57% 59% §5834 59
58
58
U S Industrial A lcohol—
43
44
*30
44
*41
44
*30
421 *38
421 *36
*37
855s 801 *84% 85% 17.40( U S Reultv * Im prov’ t . .
827g 85% 84% 8534 84*4 80% 85% 86%
4,50( United States R u b b e r ..
50% 51
5012 501;.
51% 52% 52% 531.
50i2 51
5012 501
Do 1st pref__________
1()034 106% 1063.4 1003., 100% 107% 1073g 1073,, 2,101
♦10012 1070 10G58 107
Do 2d pref--------------*75
81
*75
81
*75
81
*75
81
*75
81
*77
80
0SS8 70
69
093;
097g 71 277,901 United States Steel-------70
701
681s 687,
673,-i OS'f
Do pref______________
IIH4 11114 m & s 11134 1113s 1121., 111% 1113., 1113, l i n 112 1121, 3,30( dlJtah
Copper___Par 510
607g OH
01% 02% 9,50(
ens on.
OH;
60
OH4 01
6OI4 601
Vlrginla-Carollna
C licm ..
1,050
*48%
493.|
49%
50%
*48%
491
*4M2
491;
*48
49
J4812 481
401
Do p ref_____________
116*4 1163. 1101 1161 *116 118
110% n - %
*110 1171 *110 118
171
ells Fargo * Co-----136 ~ 130 *138 139 *135 139
♦138 140 5130 139 *135 140
estern Union Teleg.
1,100
83
83% 827S 827g 823,t 82.1, 823, 83
82
82
*8112
6,300 Westlngh’seEI&Mfg assen
7034 77
7034 77
76% 771; 70% 77
75
70I4 77
75
201
Do 1st p ref_________
120% 121 *111.34 1213,
♦118 121 *119 121 *118 121 •118 121
1,421 W ool worth (F W )-------94% 95
94
94
95
951 *94
*94
947; *95
94
96
1(M
Do
pref____________
1151- 1151- *11.5 n o n i5 n o
*1141- 110 *114 110 *115 117
N
P
U
W
I3 A N K S
Banks
lirjukiyn
Coney lsl'dl
F irs t............
Urcenpomt..
Hlllsldel . . .
llom cstcadl
Manutac'rs
Mechanics' 1
Xlontuuk 11
N assau____
Nat C ity___
Ask
280
165
405
230
212
275
155
295
175
126
115
425
240
150
226
296
AND
l!r^,.ktun
North Side 1 175
'eople’s ___ 145
I'rosp’c t l ’ k' 135
200
155
155
Trust Co' i
TV YC
Uu
\ s t o r _____
Bankers’ ir
B’ ttay T r ..
410
678
17/t
TRUST
I rust Co’ i
TV Y .city
Banks
420
583
1821
Range since January 1
On basis of lQU-share lots.
Range lor Previous
Year 1911.
I
Highest.
Highest
3 Sep
434 Jan 10 19 J ’ne 20
31% Mch
42 Jan 0 C238 j ’ne 2V
82 Sep
86 Mch 22 89% J ’ne 10
66% Sep
677s Feb 1 S958 Mch 25
98-% Sep
1023s Jan 2 108% Apr 24
123 Mch 6 176 J ’ly 1 225 Sep
Aug
102% Jan 10 111 Jan 20 96
99 Feb 9 103% J’ ly 5
2o Sep
26 Jan 19 30% May 11
112% Sep
U434 Jan 12 133'' Mayl
115% Jan ‘ 123% J ’ne 3 i l l Jan
149% Met) 25 131% A uk
1375; Jan
241% Feb 29 .3241" J ’ly 1
87 Aug
102 Jan 9 108% Jan 1.
101% Jan 11 10038 Jun 19
25% Dec
25% Feb
31 May 17
85i.i wet
941" Mch I86 Feb
24ig Sep
413s May 2
25% Jan
515% J'nc21 $2" Sep
§34 Feb
1001-. Dec
105% Feb
120 J ’ly 1(
53% J ’ne 18 60% J'ne2
10234 Fcl) 2 108% J ’ne 17 103% Dec
: o Sep
27% Feb 27 42 Apr L
64 Sea
66% Feb 27 743, Mav l
137% Mch 21 146% J’ly 18 ; 129 Sep
28 Feb
29% Mch 18 40% Apr 30
18% Sep
16% Feb 27 28% Apr 22
91% Dec
50 Feb 27 95% Apr 2.
525 Jan 15 53./% J ’ nc'.’l, bl<>% Sep
26 Sep
23% Feb 28 34% Apr li
1283, Sep
138% Feb 17 14t>38 J 'ly 1
93; (>01
10 Jan 16 17% Apr 24
73 Sep
z76% Jan 3 87 Apr 24
29 Sep
28 Feb 5 3438 Apr 8
11% Feb 28 215* J 'ly 3
13 Dec
37% Jan 23 50 j ’ ly 2
37 Dec
155 Jan 2 1813s JTy 2 142 Sep
35 N OV
30 Feb 2b 38% Apr 9
70% May 3 82 A pr 8
741" Dec
51 May t, 55 Mch 1.
$31" Oct
553 J ’ly li rS62 !s J ’ne Is
518% J ’ no o S20% J ’ue 7
99% Sep
105% Feb l 124% Mav2>
116% Jan 26 1213.1 Apr s 116 Sep
3% Sep
7% Meh29
4 Mch 7
14 A uk
16% J ’ ly 8 26 Mch 29
■
j Sep
9% Jan 17 1 % May2..
44% May
z457g Jan 3 0278 May2„
23 Oct
21%J’no
34 Jan 2
80 Oct
79 FcO 1 81% Apr 8
101% Sep
101 Mch 16 108% Jan
1567g Jan 15 20834 J ’ly 1
1051-Jan 12 113% "J'ly
74% Dec
75% Jan 31 92% J ’ly 1.
68% Jan 11 70% Jan 23
68 Dec
82% May2.i
70 Apr
69 A p r i l
105% J ’n e 24 112 Jan 11 10734 Sep
62% Apr 20 733s M a ylt
bl6 >s Sep
$23% Feb 14 $29% J ’ly i
117% Jan
139% Jan 2 161 Apr3<
124 Jan
126% Feb 20 131 J 'n e ll
12% Dec
12% Feb 29 HJi.i Mavl5
85 Jan
88 Feu 27 95% Jan v
42% Sep
51% Jan 0 60% May2v
105% Feb 1 10934 Feb 15 104 Sep
§18% Jan 29 $23% May 1 §15% Sep
45 Oct
50 Feb 17 76% J ’ne 6
64 Jan
74%Jan 3 8478 Apr 27
23% Apr
30 Jan 3 35 Mch 27
35 Sep
47 Feb 6 6538 Apr 25
103 Jan 8 118% May26 101% Aug
99 Sep
102 J ’no 3 111% Feb 16
17 Dec
1(534 Mch 1 23'% Apr 23
0734 Jan
77 Feb 8 95% J ’ly 6
167 M c b ll 200% J ’ne 8
10734 Jan 12 115 Jan 19
25 Sep
2834 Feb 27 373s Apr 9
91 Sep
96 Feb 28 103% Apr 24
106% Feb 17 11134 Mch 28 108 Oct
158% Feb 2 163 Apr 29 154 Sep
26 Oct
27% Feb 8 37% Apr 27
92 Jan
100 Mch 12 103 Feb 21
516 Jan 29 $221" J ’ne21 §12 Sep
18 Oet
15% Feb 26 2734 J ’ly lb
64% Feb 27 86% J ’ly 2
74% Oct
140 Jan 15 194%May22 125% Sep
34 Sep
39% Jan 30 68 J ’ly 2
15 Aug
16% Jan 19 33% J ’n e 27
50 JTy
53 Jan 8 61% J ’nc27
30 J ’ly 10 36% J ’ne 2V
90% J ’n0 28 91% J ’ly 12
534% Feb 1 547% May2l §30% Sep
74% Nov
81 Jan 16 130 J’ly L.
63 Mch
98% Apr 3 115% J ’nc2b
103 Mch
110 J ’ne 14 114 J ’no It
Dec
17% May 16
438 Jan 25
60% N ov
49-% Feb 21
67% May 16
53% J ’ly 10 61% May2i
105 Jan 10 109 Feb 16 100% Sep
97% Sep
97 Feb 10 102.% J’ly 17
1033$ Feb 24 108 Mav2
10034 Sep
11 Sep
13 Feb 16 22% Maylu
40% Sep
50 Jan 4 61 J ’ncL;
24 Aug
26 Jan * 44-% J ’ ne 2,
65% Jan
67 Jan 31
80% J ’ly 1
30% Sep
45% Feb 1 077s M aytl
104 Sep
10658 JTy 16 116 May2(
06 Sep
75 Jan 23 85D May21
50 Oct
58% Feb 13 73% A pr 3i.
1073s Feb 13 11334 Apr 8 103 Oct
552% Jan 29 $65% Apr 8 §38 Sep
43% Sep
47% J ’ly IV 67% Jan 26
ii638 J ’ly l' 122 MTTh27 114 Sep
136 J ’ly 17 151 Jan 3 139 Sep
71% Apr
79 Jan 2 86% Jan lb
58% Sep
06% Jan 3 817S Mch 27
11 l's Jan 5 122 Mch 23 110% Aug
94 J ’ly 11 99% J ’nc
. J’ly
115 J ’ne '8
4
53s Jan
43% J ’ly
89% J ’ly
83% J ’ne
i08i" J ’ue
325 ’ May
105 Dec
02% Feb
122% Feb
119% Feb
153% J ’ne
165%’ Dec’
’ ’ 36% Mch
96% J'ne
341- Feb
S41% J ’ne
108 Dec
107 Dec
381; Aug
66% J'ly
148% N ov
31 Mch
333; Feb
106 Feb
§27% Dec
363s Feb
148% J ne
15-% May
85 V ay
38% Mch
36 Feb
66% May
168% May
613; Aug
86% Aug
§7% Jan
129'% Mav
128% May
57; Jan
22% Deo
13% Jan
563; Jan
44 Feb
90% J ’ne
114% Jan
95 Feb
77 Mch
87 J ’ne
113% J ’ne
524% Dec
14J34 N ov
130 Feb
22 J ’ly
100-% J ’ly
69 Feb
10'J34 Aug
521% j ’ ne
76 Feb
76% May
333g N ov
64% Jan
109 Jan
118% J'ne
23% J ’ne
907$ J'ly
373; J ’ne
102-% J ’ne
120 Feb
163 Jan
39 J'ne
103 J ’ne
§19 Deo
3514 Feb
9y3g Feb
192 Feb
56% Feb
17% J ’ne
53 Dec
§44 J ’ne
1361 Feb
111 J ’ne
113', JTy
9 Feb
59% Jan
11061 Oct
10.8 J'ne
1071 -J 'ly
19 Feb
z61 Feb
30 May
7934 May
481" Dec
115% JTy
79 Mch
52% Feb
1207; Feb
$577$ Dec
7o*s Feb
128%. Mch
177 May
841" May
79 May
123 Jan
1163
C O M P A N IE S — B A N K E R S ' Q U O T A T IO N S
aid
Central l 'r .; 1030
Col um btaICnlckerh 580
Com m ercial
90
Ask
590
95
U m p ir e __ 300
310
Eqult’ ble T i 5421; .74/1
1100
Farm L o * i
2221
F id e lity ___ 218
325
I'll1t o n ____ 315
iu a r ’ ty T r. 1020 1030
t rust Lo's
Guardian Tr
H u d s o n __
Law T l&'Tr
Lincoln Tr
detropol t’ n
dutual Alii
a n c c _____
d u t.t Westeiic -ter). .
Pla
90
137
225
140
460
Ask
105
142
230
___
470
145
152
140
150
1rus.
Co
i
\’ Y L ife* ! '
A Y Trust
Standard lr
TltleGu* Tr
union lr
US M tg&T’r
Unit States
>Vasnington
iVestcnestei
Windsor . .
ina
1030
63 J
370
600
130U
470
1120
390
150
188
Ask
1015
640
380
605
487
1130
410
160
192
Irust Co'»
Rronklyn
Brooklyn Tr
Citizens' . . .
Franklin___
ta m lito n _
H o m e _____
dings Co . .
L IsT L & Tr
N assau____
Peoples’ ___
.ueens C o.
HUt
470
150
265
275
105
520
300
150
295
90
Ask
__ _
275
115
312
100
305
100
•Bid and asked prices; no sales on this day. §Less than 100 shares, t Ex-nghts. 6 New stock, a Ex-dlv. and rights, d Quoted dollars per shale.
tSale at Stock Exchange or at auction this week. * Ex stock dividend. 11Banks marked with a paragraph (11) are State banks, z Ex-dlvIdend.
New York Stock Exchange— Bond Record, Friday, Weekly and Yearly
--------
N.
BONDS
Y . STOCK EXCHAN 3E
Week Ending July 19.
- W-
Price
Friday
July 19.
WeeKs
Range or
Lae. Sale
Range
Since
Jan. 1
N.
Price
Friday
July 19
Y . ST<?CKD EXCH AN G E
W eek Ending July 19.
WeeKs
Range or
Last Sal
U. S. Government.
Hid
Ask Low
High
30 Q -i 100% 101 100-14 M ay’ 12
30 Q -„
100*2 101% 10084 May 12
18 (J-J
102% Sale 102is
1021
18 (J-J ' 102 10234 102
102
11JS4 114 114 J ’n e ’ 12
25 y - i
7
--------------4s c o u p o n ...................... 1925
11J34 U4% 114% J ’n e ’ i
25 y - i
Pan Canal 10-30-yr 2s *1936
36 Q-b 100D101 10012 J ’n c ’ l l
Panama Canal 3s g ____ io o61
i Q -t 10138 lo l/j
Low High Chesapeake & Ohio—
Hid
Ask Low
High
IOOI4 1007s
Gen funding fc iiript 5s. 1929 J
____10
102% J ’ne
10034 1013
1st consol gold 5s_______ 1039 Al-N ____HO
109%
10
102 10234
R e g iste re d .!__________193a Al-N 108 . .
i l l May
IOU2 1031,.
General gold 4 Ms..............1992 Al-S luy% Sale 99%
100%
ir o
113% 11 ■
Registered...................... 1992 ,V1-S
98% 10 ‘ 993s Nov
U S
113% 11434
Convertible 4 Ms____
i»;io F
94 Salo’ 93%
94
U S
Big Sandy 1st 4s................ 1944 J -D
86% 88
86%
86%
U S
10138 1021
Coal Rlv R y 1st gu 4s____ 1945 J -D
86% 89% 88% J ’ne
Craig Valley 1st g 5 s .‘. ..1 9 4 0 J
101 1041 10134 May
10134 1013,1
Foreign Government
Potts Creek Hr 1 st 4 s ..
1940 J 84 . .
84 M ay’
84
86%
M-S J 99% ____ 99% J ’ly '12
97 991
lt & A Dlv 1st con g 4s 1989 J ____ 94
95 M ay’
93% 96
94% 94is J ’ly '12
. . J - c 1 94
93% 951
2d conso; gold 4s____
1989 J 02% J ’ne ’
Greenbrier R y 1st gu g 4s 1940 M-N 91% . .
95 Oct
25 F-A { 917g 92
92
92
92 94
Chic & Alt R R ref g 3s
1949 A -0
71% 721. 70%
7034 72%
71%
91%
23 J-J I 01% Sale 90%
90% 93
Railway 1st lien 3 %s ...1 9 5 0 J - ‘
65 Sale 65
6“
60% 65%
8i>34 85's j ’ly T2
ll J J t 85
85 88% Chic B & O Denver Dlv 4 s .. 1922 F99 100
99% 100
09% J ’ no ’
t . M-S 1103% 101
01 J 'l y ’ 12
102% 101
Illlnols Dlv 3 Ms____
1940 J
87%
Sale
87%
8
87 88
19 F-A t 99% 100
9914 J ’n e ’ 12
90 99%
Registered_______
1949 J 80 . .
85% A p r ’
85% 85%
'J8!,i
9 .1 - J t 98% ____ 98%
97% 98%
‘
1949 J Illlnofa Dlv 4s____
99% 99% 9U38
991
98% 100%
. . M-S ____ 94% 94 J ’l y '12
94
95
Reglstered............
1949 J
97%
PO
98% J’n o’
98% 99%
98
19 Q-J t 9 /
97
97
95% 97%
Iowa Div sink fund 5s
lulu A -0 105 . .
105 J ’ly ’
10J7S 105
91 May’12
>4 J-L ------ 93
88 91
Sinking fund 4 s . .
1919 A -o
99% Sal
99%
99%
99% 99%
These are p
sis 0 I 55 to £
Neoraska E xunsion 4s 1927 AI N 99 Sale 98-%
99
9734 99%
■State and City Securities
Registered____
1927 M-N
98%
M
ch’
N Y City— 4 ,’ i s __
50 M-S 101% Sale
101% 85 10078 103
Southwestern Dlv 4s"~ .1921 M-S
99% . . .
09% Deo ’
32------ 10034 Sale
10084 10 100% 101%
Joint bonds See Great North
99 Sale 987g
>1) 41-5
99
23 0884100%
DeDenture 5s____
1913 Al-N 100% 101 100%
%;
100% 101%
,8 M-b
09 Sale 9878
99% 33 9878 ioo%
General 4 s .................. ’ " m s Al90
95% 96% 95%
9534 97%
9834 9jig 99%
7 >1-5
99%
4 99% 100% Chic & E ill ref * imp 4 gs'll)5 5 J 78 80
79 J ’ly
70 81%
7 M 5 10G3g 1063j 1
106%
2 100% 10778
1st consol gold 6 s .. .
1934A -0
122% 1231 122%
1221
122 125
7 M- N 101%102 i
M c h l2
102
10284
General
consol
1st
5s
"
l
9
3
7
M-N
10/
108
107% 111%
10?% J ’l
7 Al-5 106% Sale
10034 "id 10o38 107%
1937 MRegistered_____
109% 109%
109% Fe
7 Al-5 101%102 1
102
3 101% 1027s
Chic & Ind C R y 1st 5sIIl0 30 J - . 1 0 0 % ... 108% J ’n e '12
108% 109%
4 Al-5 ------ 80
J ’ly ‘ 12
80 88
Chic Gt Western 1st 4s
1959 M-S
77 Sale 7/
77
83
771
N Y State— 4s.
1 Al-S 100%____1
101 I027g Ohio Ind & Lou lav— Kef 0s"l947 J 125 12,, 12534 J ’ly '1
125% 129%
1 J -J 101%____1
101% 10278
Relunding gold 5s
1947 J 110% 111 U0% J ’n o ’ 12
U0%11034
1 J J *101%____i
191%
103
Refunding
4s
Series
C
**1917
J
05% Apr ’ ll
0 J J '101% ____l
10034 102
Ind & Louisv 1st gu 4 s"‘ l956 J -J
____ 80
86
86
86
00%
9734____1
So Carolina
3 J -J
•.............. Chic Ind <1: Sou 50-yr 4s
1950 J
9034 93% 91% May’ 12
90% 91%
97%____ 9734 Apr '12
3 J -J
9734 9734 Chic L S & East 1st 4 Ms___1909 J-L)
104 Dec ’l l
1 J -J
. . . 85%
Chic MU & St P termi g 5s’ l a l a J - J 10138 101% 101% 101%
4 10138 102%
6s deterred Brown Bros etts.
4u% 64
51
Gen’ l gold 4s Series A «1989 J -J
48 53
97% Sale 97
97% 30 97
99%
Railroad
Registered .................. «198» Q -J *97%
97% Apr T2 ___ 97% 98
k nn A rbor 1st g 4s______ ftlOG 5 (J-J ’ 77% 79%
J ’ly T2
783.1 84%
Gen 1 gold 3 H* Series B .el989 J -J ____ 86
85 J ’n o ’ L —
85
867*
Vtcb T op * S Fe gen g 4 s .196 0 A O
98 Sale 9778
98%
9734100
Registered.....................e io89 J -J *84 . . .
86
J
’n
o
’
ll
9C34 *J8 .....I May’ 12
5 A -0
98 99%
25-yeardeben 4s.................1934 J -J
90% Sale 90
90% 1 90 023S
5 Nov
89% Sale
I
89%
89% 923g
Conv 4 Ms (full pd rectal. -----101% 807 10134101%
101 Sale 1027g
5 Nov ---- Feb '1
90% 91
Chic & L Sup Dlv g 5 s ...1 9 2 1 J -J 1 0 5 % ... 106% Apr T2
106% 108
5 M-N 89% 907g
90
90
02%
Chic & Mo R lv Dlv 5s
1920 J -J 108 . . . 108 J ’n e ’ 12 ___ 108 10834
5 J -l) ................ 1
10 0 % 10 734
Chic & P W 1st g 5 s . . . ' 1921 J -J 106% 105% 105% 106
4 105% 106%
5 J-D 10/3410*1. 1 1 108
10534 109%
C M & Puget Sd 1st gu 48 1949 J -J
93 ____ 93
93
6 9278 95%
0 J-U 101% Sale 1 S 1041
100% 10134
Dak & Gt So fluid 5 s .. 1916 J -J 101% 102% 102
1 102 103
102
7 J -D 108% Sale 1 (
108%
Dubuque. Dlv 1st 3 f 6 s ..1920 J -J 11234 . . . 113% Apr '12
105 110
113 113%
083g-----3 F-A
l J ’ly 1
bar & Sou assum g 6s.
1924 J -J 115% . . . 11738 A u g ’ L
95 ____
5 Al-S
90
9684
Lacrosse & D test 5s____Ilu iu J -J
10434 . . . 10434 J ’ n o'12
104% 10434
92
92%
1 J -J
J ’ly '12
94
Wls * Minn Div g 5 s .. 1921 J -J 106 106 106 J ’n e ’ 12
106
1063a
2 M- S 109 . . . . l(
J ’ly '12
Wls Val’ Dlv 1st 6s........... 1920 J -J
1101
11234 113 11234 M ch'12
11234 11234
5 Al-S lu4 ____1(
Mil & No 1st cons 6 s .. 1913 J-U 101%. . . 10134 Dec T
s J’ly ’ l l
94% Sale
!
9134
> M-S
1913 J -D 100% . . . 100% N o v ’l
Extended 4 Ms____
0438 9678
93 ____
2 M-S
Oct '00
Chicago <Sc N West cons 78 1915 y - F 106% 10/% 106% J ’ly '12
106%108
8 M-,N 107 Ids 1(
Extension 4s----------1886-1926 F-A
9034 971 96% J ’n e ’l
06% 98
95 ____
8 J -J
9.534 953,,
R egistered............1886-1926 F-A
97*4 N o v ’l
5 J -J 128 .
General gold 3 Ms.......... 1987 M-N
85
87
85%
851
.
.
.
85%
2 M-N 91 Sale
944
Registered----------------- p i 987 Q-b
"9*3% *9534
83% 87
843.1 J ’ly '1
84% 86*4
4 A-O 123 121% 1;
General 4s......................
1987 M-N 97% Sale 97%
123% 123%
98
07% 9834
4 A-O 1 0 9 % .... 1
Sinking fund 6s____1879H929 A -0
10%____ ' 13, N o v ’ l
5 J -J
97 100
Jan '12
97 97
R egistered............1879-1929 A -0
10%____
1% N o v ’09
91% 9134 < l
5 J -J
91%
Sinking fund Gs____ 1879-1929 A -0 105 ____ 106% J ’ly '12
91 93
106% 106%
Bf
8934 91
5 (J-J
3 M a y 'l9
9078 91%
Registered ......1 8 7 9 - 1 9 2 9 A O 104%____ 10373 Dec '1
98 Sale i 3
Gold
1 A-O
98
29 97% 99%
Debenture 5s______
1921 A-O
. . . 104% 104% May’ 12
'%io's%
9634 ____
1J ’n e ’ i
8 Q -J
9G34 98%
Registered...................” 1921 A-O 103 ____ 106% Feb TO
2 J -J 1 1 1 % .... 1
Jan T2
Sinking lurnl deb 5 s ..
1933 M-N 105%------ 108% Mch T2
112 112
i0'8% 108%
5 M-N 89 . . .
J ’n e ’ 12
Registered.................. 1933 ,>\-N
88
90
10734 A u g '11
1 M-N 90% Sale
3
90%
Frem Elk & Mo V 1st 6s. 1933 A -0 121% 127% -.27% M ch'12
89% 92
127% 127%
5 J -J
90% Sale
j
9034
90% 91%
? S , * N W 1s* 3 Ms 1941 J - J
90% Sep '09
J M- S 1 0 1 % .... k
M ch’ lO
MUw & S L 1st gu 3 M s..1941 J -J
. . . 8634
J ’n o ’ 12
A -0 10/ 109% R
Mil L S & Wem 1st g 63 1921 Al-S 111%113
167“ 111%
2% J ’ne T2
112% 115%
F-A 102% 105 10
102% 104%
E xt & Imp s f gold 5 s .. 1929 F -A 109%------ 109% J ’n e ’ 12
100 110
J -D 106%____1(J
109%109%
Ashland Dlv 1st g 6s 1925 M-S 116%____ 142% Feb '02
A-O 103% 105% 1( >A pr '12
105 105%
Mich Dlv 1st gold 6s 1924 J- J 1 1 6 % .... - 1634 M ay’12
16% i 10*4
A -0 1 1 1 % .... H
MU S par& N VV lstgu4S.1U47 Al-S
113% 113%
93% Sale 93%
93%
93% 04
J -J
97% 971
9734 ------ 9
Northw Union 1st 7s g__1917 M-S 111% U134
J 'l y ’ li
J -D
91 ____ 9 1 J ’n e ’ 12
91
91
W inona & St P 1st ext 7 s'lu i6 J-D
19% 110%
ill
l 111
M-S 1 1 1 3 4 .... I] 2 J ’ly T2
11178 112% Chicago Rock Is & Pa 6s 1917 J-J 107%------ 107% JTy ’ ll
10734 1087*
Al-N 105 106% 105%
105%
105% 107%
Registered..............
'1917 J-J 107%____ 109 Aug TO
97% ___ 0 7 Feb ’ l l
A -0
General gold 4s.......... " l 9 8 8 J-J
94% 91% 043,
434
95
94% 967*
J -J 108 ____10 3 j ’ly '08
Registered.................. 193s J-J
93% 9478 95'
95
94 06%
F -A 113% . . . . 11 384 N o v ’ 11
Refunding gold 4s. .
1934 A-O
88% Sale 8838
88%
88%
9034
J -D 1H34 .._ _ U 434 J ’ly ’ 12
U434 115%
20-year debenture 5 s ____1932 J - J
92 Sale 91
92
91
94%
J -J ................ 7 2 Mch TO
Coll trust Series L 4s .
1914 M-N
97 ____ 9734Sep ’ l l
J -J 100% 101% 10934 101
M
4s..................................1915
100%102
Al-N
. . . 98
00% N o v ’ l l
Al-S 1003g sale 109% 1003s
p 43..................................1918 M-N
100% 101
. . . 95
434 J’n e ’ l l
Al-S ................ 10
Chlo R 1 & Pac R R 4 s . . . 2002 M-N
08% Sale
‘
69
67
73%
F-A 112%____11
1127jll334
Registered______
2002 M-N
7134
M ch’ 12
7134 723*
M-b 10j % U 0 10 1% 109%
109 111%
R I Ark & Louis 1st 4 Ms 1934 Al-S
913* *91% 91% Apr *12
91% 03
M-1\
7% N o v ’l l
Bur O R * N— 1st g 5s 1934 A-O
10%____ ’
J'ne'i
10 111%
Oot .................10 l D e e ’ l l
Registered_____
1934 A-O
120% Mch '03
Stamped
3% May’ ll
SrIi U \ * N vv ls t g u 5.3 ’21 A -0 105%____ 105% Sep '11
Oct ................16 j D e e 'l l
J
-D
M & St L lstg u g 7 s ...1 9 2 7
2d pref Income g 5s stam ped.
____ . . . . 9 1 N o v 'll
Choc Ok & G gen g 5s 01919 J-J
10234 Aug T
3d pret Income g 53____ p l9 4 „ Oct ................ 10 l D e c 'l l
Consol gold 6s.................1952 M-N 100%____ 107 M ay’ 12
107 108%
3d pret 'ncom e g 5s sta m p ed .. . ___ ................ 8
Keok & Des M 1st 5s____1923 A -0
99 ____ 100% J’ly '11
100 101%
Chatt Dlv pur mon g 4 s ..1951 J -l) *90 ____ 9
89% 91% Chic St P M & O con 6s____1930 J -D 12138 123% 122 J ’l y '12
124
Mac ft Nor Div 1st g 5 s ..1946 J -J 107% 10J% 10
Cons 6s reduced to 3 M s ..1930 J -D
107% 107%
89
____
Deo '03
Mid Ga & Ati Dlv 5s____ 1947 J -J 105%____11
N ov '05
Debenture 5 s ..................... 1930 Al-S 103 Sale
103
103
105
•Mobile Dlv 1st g 5s............ 1946 J -J 103 ------10
Ch St P <Jc Minn 1st g 6s 1918 Al-N
2 J ’n e ’12
122 123%
Cen R R & B ot Ga col g 5 s .1937 Al-N 101 102% 10
102% 103
Nor Wisconsin 1st 6s
1930 J-J
129% M ay’09
Cent of N J gen’l gold 5s___1987 J -J 120 120% 12
120 12234
St P & SCIty 1st g 6s____1919 A-O 109% 110% 1103., M ay'12
11034
111%
Registered.....................ftl987 Q -J ____ 120% 12 )%
12034
120% 122%
Superior Short L 1st 5s g 1930 M-S 109 ..
Am Dock & Imp gu 5s___1921 J -J 105-% 106% 10
106
108 107
Chic & West Ind gen g 6 s . .<71932 Q-M
108% J’ne T2
108%
Lo & llu d R gen gu g 5 s .1920 J -J 102%____10’
102% 102%
Consol 50-yqar 4s.
1952 J-J
. . . 90% 90% J ’n o T .
92%
Leh & Wllkes-B Coal 5 s ..1912 M-N 100 ____10
J’ly ’ 12
100 100
Cln II & D 2d gold 4 Ms____ 1937 J-J
. . . 101% 101 Mch'12
101
N Y & Long Br gen g 4s, 1041 M-S
98 ____10
Deo ’ l l
1st & refunding 4s
1959 J-J
.
.
.
90%
901
Cent Vermont 1st gu g 4 s._el92o Q -F
91
917* 9
90 92%
1st guaranteed 4s.......... 1959 J-J
90% 86% J ’n o ’ 1 2 ----- 88 87
U S 2s consol
100
104
AUSCELLANEOUS BONDS— Continued on Next Page.
Street Railway
Brooklyn Rap Tran g 5 s ...1 9 4 5 A -0 105% 105% 105% J 'ly T2
1st refund conv gold 4 s ..2002 J-J
9234
92% Sale 91%
Bk City 1st con 5s 1916-1941 J J 102% 102% 102%
102%
Bk Q Co & S con gu g 53.1941 M-N
U834 J ’ly T2
Bklyn Q Co & S 1st 5 s ...19 4 1 J-J ------ 99
Bklyn Un El 1st g 4-5s._1950 F-A 102 ____ 102% JTy"'l2
Stamped guar 4-5s____ 1950 F -A 102 102% 10’% J 'ly 'IKings Co El 1st g 4s_____ 1949 F-A
85%___ 85% M ay’ 12
Stamped guar 4s______ 1949 F-A
86 Sale 85%
86
Nassau Elec guar gold 4s. 1951 J-J
77 80*g 78%
78%
Conn R y & L is t & ref 5g 4 M s .’ 51 J-J 10238 . . . . 101?8 J’n o ’ 12
Stamped guar 4 Ms........... 1951 J ' J 1023s . . . 102% J ’ly T2
Det United 1st cons g 4 Ms.1932 J ” J
75% 78% 75%
75%
F tS m lth Lt & Trac Istg 5 s .1936 Al-S ------ 94%
93 Apr T2
Grand Rapids R y l s t g 5s. .1916
100 . .
100% Mch’ 12
Havana Elec consol g 5s__ 1952 F-A
98?g 9 1% 98'a J 'ly T2
interboro-M etrop coll 4 Ms. 1958 A-O
82% Sale 82%
82%
^nterboro R ap Tr 5s Ser A . 1952 M-N 104% 105 1043,
101%
♦No price Friday; latest this week,
a Due April,
Street Railway.
103 105% Manhat R y (N Y) cons g 43.1990
837s 94.34
Stamped tax-exem pt___ 1990
101% 102% Met St R y gen coll tr g 5 s .. 1997
98% 9834
Guaranty Trust Co certlfs . .
Refunding gold 4s........... 2002
101% 103%
Farmers’ Loan & Tr ctf
101% 102%
S ta m p e d ____
83% 8534
Bway & 7th A v lR tcg 5 sII0 43
84% 86
Col & 9th A v 1st gu g 53.1993
78 81
Lex A v & P F 1st gu g 5 s .1993
101 1017g
Third A v HR cons gu 4 s .2000
101% 102ls
Central Trust Co certs.........
36
Cent TrC o cts stam ped____
93 l ? *
Third Ave R y l s t g 5 s ...1 0 3 7
100% 100% Met VV S El (Chic) 1st g 4S.1038
98% 9934 MUw Elec Ry & Lt cons g 5sl026
80% 84%
Refunding & exten 4MS.1931
103% 105
e Duo May.
ft Duo July.
* Due Aug.
0
Due Oot.
A-O
A-O
F-A
AO
J -D
M-S
M-S
J -J
J -J
F-A
F -A
J-J
9634
06% 06-% 00%
97 J 'l y '17
90
97
102 M ch’ 12
99 ____ 99% J'no'12
04 M ay’ 12
62 M ch’ 12
6934 M ch’12
1U3%
103% 103% 103%
102 102% 102% J’ne T2
102 J ’n o ’ 12
____103
74
74
74%
74% Sale 74%
74% J’no'12
10/%103 108% J ’ly '12
93% J 'ly '06
104% Deo ’ l l
"04% m i 96%M ay’ 12
p Due Nov.
q Duo
Deo.
96% 08%
96% 08
99% 102
97 103%
58% 64
57% 62%
57% 62
103 104%
101% 103%
102 103
74 80
73 81%
72% 81%
108 110%
95% 96%
• Option sale.
.Ju l y 20 1012.1
N.
^163
New York Bond Record— Continued— Page 2
Price
Friday
J ly 1 )
BONDS
Y . STOCK EXC H AN G E
Week Ending July 10.
Week's
Range or
I.asi Hale
llid
Ask Low
Hlah
Cln Ham & Dayton <Continued)
Cin D & I 1st gu g 5s------1911 M-N 10212 lU3l- !02i2May 12
88 M ch T l
C Find & Ft VV 1st gu 4s g 1923 M-N
-J
88 J 'ly
87
Cln 1 & YV 1st g u g 4s____1953
J
Day & Mich 1st cons 4 Ms 1931
- j 10112 1051. Kill- J’ ne 12
Ind Dec & W 1st g 5s____1935
1 0 7 1 < D e c ‘ 1)2
1st guar gold 5s________1935 -.J
12
C lcvc Cln C & St L gen 4s. .1903 -D 0 ll2 9.4*4 92
9334 J'ne i:
- J ____ 1)3
20-yr deb 4 I j s ......... ...Iv i3 1
J
U212 941; 933s J ’n e ‘ I-.
Cairo Dlv 1st gold 4s------1939
90
90 Sale 90
Cln W & M Dlv 1st g 4 s ..1991 J - J
91
St I. Dlv 1st col tr g 4s — 1990 M-N 90 9 1->. 1012
91 Oct ‘07
Registered.....................1 9 9 0 M-N 8812 90
Spr & Col Dlv 1st g 4 s ...1 9 4 0 M-S
90 ___ 90 D e c 'l l
Apr T
W W Val Dlv l s t g 4 s . . . 1040
90
921;
J
O 1 St L & C consol Os___1920 M-N lOolg . . . . I053j Dec ‘ 11
97 Mch 12
Ml
98
1st gold 4s___________ fcl93U Q -F
10 J 'ly TRegistered..... .......... fcl930
F 96 98
Cln S & Cl con 1st g 5s__ 1928 j - J 1063S ___ 10718J'ly '1J ’no 1
D 101*2----C C C & I consol 7s_______1914
Consol sinking fund 7s,1914 J-D
General consol gold 6 s .1934
J I I I . 123*2 12312 Apr '12
Registered__________ 1934 J -J
90 ____ 04 J ’ly '08
Ind III 8c VV 1st pref 4s__ 1940 A-O
95 ____
O Ind & VV 1st pref 5 s..d l9 3 8 Q -J
91 J ’n e ’12
Peo 8c East 1st con 4s___1940 A-O ____92
39 401; 40 J ’ly ’ It
Incom e 4s_____________1990 Apr
50
Sale
50
60
J
-J
Col Midland l s t g 4s________19*7
9534
053.1 901; 9534
Colorado & Sou l s t g 4s____1929 F-A
9G*s
Refund & ext 4 J4s______ 1935 M-N 9GI4 Sale 9fil4
11 M ay'12
D ____Huh
Ft VV 8c Den C ls t g O s...1921
Conn & Pas Rlvs 1st g 4 s ..l9 4 3 A-O
100 May '10
J
Cuba HR 1st 50-yr 5 g --------19oel Lack 8c Western—
Morris 8c Essex 1st 7S..1914 M-N 105 . . . 105 J ’n o ’ ll
D 1073.! 108 10734 May'12
1st consol guar 7s------ 1915
Registered _________ 191o J-D 10/ . . . 1113S Dec '10
90 M ch’ 12
1st ref gu g 3 V$s-------- 2000 J-D ____8912
12*2 J’ly T
N Y Lack & VV 1st Os____ 1921 J -J 112 .
Construction 5s________1923 F-A 10512 10/34 10734 May’ 12
Term 8c Improve 4s__ 1923 M-N 98 ____ 98 Dec ’ l l
I02is Feb '03
Warren 1st ref gu g 3 V$s.2000 F-A
11512 Aug ’ ll
Del & Hud 1st Pa Dlv 7 s . . . 1917 M-S
119 A u g '01
Registered_____________1917 M-S
98 t.
98 Sale 08
10-yr conv deb 4s________ 1910 J-D
IOU4
1st lien equip g 4 ^ s .......... 1922 J -J IOU4 Sale I0H4
9M Ufll2
9912
1st 8: ref 4s______________ 1943 M-N 99
9012 J’ly ’ 12
00U 91
A lb & Sus conv 3 J$s____1940 A-O
liens 8c Saratoga 1st 7 s ..1921 M-N I2034____ I2U4 May’ 12
851s
85
8534 8434
DenvOc It Gr 1st con g 4 s .1930 J -J
Consol gold 4 V*|S_________ 1930 J -J '____ 073). 073s J’ly ’ 12
94 J ’n o ’ 12
Im provem ent gold 5s____1928 J O 95 97
84*4
84*8 Sale 84
1st & refunding 5s______ 1955 F-A
10112 M ch’ l l
R io Gr June 1st gu g 5 s ..1939 J -D
0U2 Apr ’ ll
R io Gr So 1st gold 4s____1940 J -J
85 Mch ’08
Guaranteed __________ 1940 J -J
8334
8334 8334
R io Gr West 1st g 4s____1939 J -J
80 J 'n o ’ 12
79
Altge 8c col trust 4s A . .1049 A-O
97 Jan '02
Utah Cent ls t g u g 4s.ul917 A-O
110 Sep 0
Dcs Mol Un lty 1st g 5s____1917 Vl-N
92 N o v 'll
Det 8e Mack 1st lien g 4s— 1995 J-D ____95
01*2 921 9212 J ’n o ’ 12
Gold 4s..................................1995 J-D
9912
Det Riv Tun D ot'l'crT u n 4 '$s’G M-N 99i2 Sale 99*2
75 Feb ’ 1
Det T 8c 1— O S Dlv 1st g 4sl94 M S
Dul Mlssabc 8c Nor gen 5s._194 J -J I65'i2 106 105*4 j ’ly ’ 12
ion
Dul 8: Iron Range 1st 5s___1937 A-O 101*2 105 io »2
106l2 Mch '08
Registered_______________ 1937 A-O
1•2d 0s...................................... 1910 J -J 103*8____ 104 Fcl) ’ l l
1061;
Dul So Shore 8c Atl g 5s____ 1937 J -J 1J5 . . . 1 J.ilo
lgin Jol 8: East 1st g 5 s . .l 9 4 ‘ M-N 11038 111*} 112*8 M ay’12
J'ly 'D
rle 1st consol gold 7s____ 192 M-S . . . 1171
IOU2 J ’ne ’l l
N Y 8c Erie 1st ext g 4 s ..1947 M-N
2d ext gold 5s________ 191' M-S 103 7S ------ I.HI4 Meh’ l3d ext gold 4 Vis_______1923 M-S 101 . . . ll)2l2 M ch'l
4th ext gold 5s________1920 A-O 103 . . . 105 Feb 12
95 101 100 Jan T2
5th ext gold 4s________1928 J-D
N Y L E & W 1st g fd 7s. 19
M-S ____1101 115*4 J ’ne 12
8'JU
Erie 1st con g 4s prior___1990 J -J
89i2 Sale 8914
88*2 J’n e ’ K
Registered__________ 199 J -J
78I4
78
7836 78
1st consol gen lien g 4 s .1990 J -J
77 A p r ’ lRegistered__________ 1990 J-J ____78
90 001 uol 2
901;
Penn coll tr g 4s______ 195 F-A
87 Sale 8G12
87
50-year conv 4s A ____ 1953 A-O
781
do
Series B ____ 1953 A-O
78*2 Sale 78*4
110 Apr T2
Bull N Y 8 i Erie 1st 7 s ..191 J-D . . . H I
Chic & Erie 1st gold 5 s ..1982 M-N 112 113 112 J ’n e ’ 12
Clcv & Mahon Val g 5 s ..1938 J -J 109 . . . 109 May'12
Registered_____________1938 Q -J 107 . . .
Long Dock consol g 6s___1935 A-O 124 . . . 12 n 2 M ay’ 12
Coal & RR 1st cur gu O s.1922 M-N 1061s . . . 106-s J ’n e ’ ll
Dock 8; Imp 1st cur O s ..1913 J -J lODs . . . 10134 Mch T2
N Y & Green L gu g 5 s ..1946 M-N 108*2105 105 M ay’ 1’2
N Y Sus 8c W 1st ref 5 s ..1937 J -J ____ 1033; 103 J ’ly ’ 12
2d gold 4 t$s_________ 193 F-A
8212 . . . 100U Deo ’00
8/ J 'ly T
General gold 5s________ 1940 F-A
85*4 8/
Terminal 1st gold 5 s ..1943 M-N 10812 . . . 110 J ’ uo’ li
111*2 Mav’ 12
Mid of N J 1st ext 5s____1940 A-O ____112
99*2 J ’ne T2
W llk & Ea 1st gu g 5 s . . . 1942 J-D
99*2 100
Ev 8; Ind 1st con g u g 0 s . . . 1920 J -J 109 . . . 100 May'12
U2 J’ l y ’ ll
Evans 8: T H 1st cons 0s___1921 J -J 11012
1st general gold 5s_______1942 A-O IOM4 102*8 102 J ’ n e ’ U
Mt Vernon 1st gold 6s___1923 A-O 10734 . . . 108 N o v ’ ll
95 J ’n o ’ l .
Sull Co Branch l s t g 5 s ..1930 A-O
Florida E Coast 1st 4 Hs__H)59 J-D
97 Sale ■J012
97
’ ort St U D Co 1st g 4 Hs-1941 J -J
92 Aug ’ 10
78
/8
Ft VV & Rio Gr 1st g 4s------ 1928 J-J ____781
s al 11 8: II Of 1882 1st 53.1913 A-O
9912 100 100 M ay’12
Treat Northern—
OOI4 Sale 96
963s
C B 8c Q coll trust 4s____192 J -J
90ls . . .
R egistered./!----------- 192 Q- J
9 0 t8
96*8
1st & refund 4 Rs ser A . . 190 J J 100io Sale 100*8 100Sf
Registered........... .......... J06
98i2 991 98I4 J’n o ’ 12
St Paul M & Man 4s--------1933 J -J
124*4
1st consol gold 6s--------1933 J -J 123'8 . . . 121*4
132 Apr ’09
Registered__________ 1033 J -J -____125
Reduced to gold 4 HS1933 J -J 101 ion l;)4*i J ’n e’ 12
Registered________1933 J -J 103 1013s 108*4 J ’no 09
97
97
Mont ext 1st gold 4 s ..1937 J L) 90-la 97
98 J ’n e ’ ll
Registered__________19371J D -------—
D
E
116*2
1
C
Week' 1
Range or
Last Sale
Range
Since
Jan. 1.
Low
High
92*8 Mch ’ l l
96*; J 'ly T2
114 J ’ly T2
127 M ay’ 12
I3OI4 M ay’(JO
11234Sep ’ l l
Low High
BONDS
Y . STOCK EXC H AN G E
Week Ending July 19.
N.
St P M & M (Continued) —
Pacific E xt guar 4s £ ____ 1040 J -J
E Mhin Nor Dlv 1st g4sl948 A-O
Minn Union 1st g Os__ 1922 J -J
8 /l2 88
Mont C 1st gu g 6s____1937 J -J
R egistered__________ 1937 J -J
1 10412
1st guar gold 5s____1937 J -J
Registered__________ 1937 J -J
91*2 9314
W ill <Sc S F 1st gold 5 s .1938 J-D
9334 93*.
93*8 91*; Gulf & S I 1st ref & t g 5 s ..51952 J -J
Registered______________61952 J -J
90 93
"Tock Val 1st cons g 4 Mis.1999 J -J
8U78 931;
-A R egistered____________1909 J -J
Col & 11 V 1st ext g 4 s ...1 9 4 8 A-O
Col & Tol 1st ex 4s_ _ .
1955 F-A
01 91
Hous Belt <5c Term 1st 5 s._ Il9 3 7 J -J
illnots Central—
97
1st gold 4s______________1951 J -J
96
Registered_____________1951 J -J
107*8 107*8
1st gold 3 15s_____________1951 J -J
105 1050
Registered____
. 1951 J -J
Extended 1st g 3 U s . . 1951 A-O
12313 1231;
R egistered......... . . . 1951 A-O
1st gold 3s sterling. . . . 1951 M-S
R egistered___
.
1951 M-S
Coll trust gold 4s........... 1952 A-O
90*2 92
R egistered____
195, A-O
35 467s
1st ret 4 s ..
1955 M-N
42 68*2
Purchased lines 3 H s .I _ I l9 5 2 J -J
94*4 975.
L N O & Tex gold 4s____1953 M-N
9614 98*8
R egistered_____________1953 M-N
111 1121;
Cairo Bridge gold 4s_____ 1950 J -D
Litchfield Dlv 1st g 3s___1951 J -J
Loulsv Dlv & Term g 3 v$sl953 J -J
Registered_____________1953 J-J
105 106
Middle Dlv reg 5s.
1921 F-A
107*4 1091s
Omaha Dlv 1st g 3 s I .I .I l9 5 1 F-A
St Louis Dlv & term g 3 s. 1951 J -J
90 90
R egistered___
1951 J -J
12 II4I4
Gold 3 H s......................... 1951 J -J
107*2 107*c
R egistered.
. 1951 J -J
Spring Dlv 1st g 3 U s____1951 J -J
R egistered__ . . .
1951 J -J
Western lines 1st g 4s” . .1951 F-A
Registered .
1951 F-A
0712 99
Bcllev & Car 1st 6s
1923 J -D
101 10134
Carb & Shaw 1st g 4s
1932 M-S
98 9934
Chic St L & N O g 5s . 1951 J -D
90 93
R egistered___
1951 J -D
I2H4I2U
Gold 3 H*__________” *1951 J-D
84*2 91
Registered___
1951 J-D
97*8 981
Memph Dlv I s t g 4 s l " l 9 5 l J -D
94 091;
Registered_______ "1951 J -D
84 90
St L Sou 1st gu g 4s
1931 M-S
Ind III & la 1st g 4 s .. . " " 1 8 5 0 J -J
Int & Great Nor 1st g 6 s. *1919 M-N
8334 8S3; Iowa Central 1st gold 5 s. 1*1938 J-D
Refunding gold 4s .
*1951 M-S
78 81
amestown Franklin &
Clearfield 1st 4s________1959 J-D
an City Sou 1st gold 3 s.Il9 5 0 A-O
Registered __________ 1950 A-O
90 92*?
Ref <Sc lmpt 5s______ Apr* 1050 J -J
9912 10()78
Kansas City Tcrml 1st 4 s . . I960 J -J
75 75
ake Erie & W 1st g 5 s ...1 9 3 7 J -J
105*8 108
2d gold 5s_____________1941 J -J
10 n 2 107
North Ohio 1st gu g 5s___1945 A-O
Lch Vail N Y 1st gu g 4 U s. 1940 J -J
Registered______________ 1940 J -J
10512 108
L1034 I121s Lehigh Vail (Pa) cons g 4 s .2003 M-N
Leh
V Ter Ry 1st gu g 5 s ..1941 A-O
l I6I4 118*8
Registered______________ 1941 A-O
104*4 1011? Leh V Coal Co 1st gu g 5s. .1933 J -J
Registered_____
.
1933 J -J
10212 10234
1st mt reduced to 4s____1933 J -J
105 105*4
Leh & N V 1st guar g 4s___1945 M-S
100 100
R egistered.___________ " 1 9 4 5 M-S
11534 116*2
El C & N 1st pref 6 s ..
1914 A-O
88*2 9°
Gold guar 5s__
.
1914 A-O
86 881
777s 7934 Long Island—
1st consol gold 5s______ )jl931 Q -J
77 77
1st consol gold 4s______ /»1931 Q -J
881s' 91
General gold 4s__________ 1938 J-D
85*8 91*8
Ferry gold 4 U s
1922 M-S
7514 8(T.
Gold 4s........................... ...1 9 3 2 J-D
108*4 110*4
Unified gold 4s__________ 1949 M -S
112 114
Debenture goid 5s______ 1934 J-D
109 109
Guar ref gold 4s......... .......1949 M-S
Registered_____ ______ .1949 M-S
12334 1241
N Y B & M B 1st con g 5s *935 A-O
106 107
N Y & R B 1st g 5s_____ 192 M-S
10134 10134
Nor Sh B 1st con g gu 5s.olU32 Q -J
105 105
Louisiana & Ark 1st g 5s___1927 M-S
103 105
Louisville & Nashville—
General gold 6s__________ 1930 J-D
87 90
Gold 5s__________________ 1937 M-N
110 110
Unified gold 4s__________ 1940 J -J
in fill*
•Registered____________ 1940 J
991* 1021
Collateral trust gold 5 s ..1931 M-N
106 106
E II & Nash 1st g 6s____1919 J -D
11 U2 1123s
L Cln & Lex gold 4 J$s.--1931 M-N
1017g 102*8
N O & M 1st gold 6s____1930 J
N O & M 2d gold 6s____1930 J -J
95 95
Paducah & Mem dlv 4 s ..1946 F-A
90*4 99*)
Pensacola Dlv gold 6s___1920 M-S
St Louis Dlv 1st gold Cs. 1921 M-S
78 81*2
2d gold 3 s ......................1980 M-S
99*2 109
Atl K nox & Cln Dlv 4 s ..1955 M-N
Atl
K nox & Nor 1st g 5 s .1940 J-D
96
Render Bdge 1st s f g 6s. 1931 M-S
90
Kentucky Cent gold 4 s .. 1987 J -J
100*8 101*8
L & N & AI & M 1st g 4 V$sl945 M-S
L <* N-South M joint 4 s .. 1952 J
98!; 9934
Registered___________ ftl95f Q-J
121*4 12534
N Fla & S 1st gu g 5s____193 F-A
N & C Bdge gen gu g 4 Ms 1945 J -J
104*8 105*2
Pens & Atl 1st gu g 6s— 1921 F-A
S & N Ala con gu g 5s — 1936 F
’ 6612 "98I4
L & JelT Bdge Co gu g 4s — 1945 M-S
J
K
L
11J12 ____ 11212Sep ’ l l
91*8 J ’n e ’ 12
Oil.; 92
166 * I66>; Ido**'. J 'l y ’l "
10012 Sep '08
94*2Dec ’ l l
92*8 953
9212____ 96*8 Jan '12
99*8 - - - 9934 J ’n e ’ L.
96*2 981j
114 116
127 127U
91*8 95
1661*2 103*'
96*8 96*8
9912 9934
10212 M ay’12
100 Sep '11
wo Apr '1
891 89 Apr T2
___ U312 M ay’0*
...
80 J ’ly ’09
10212 104
9M4 J ’ly ’ R
9812 A u g 'll
9,(0
951;
86I4 Feb ’ 12
86*4 *9/*’; 9 / j ’ly ’ U
94*4 ja n ’ ll
94‘f, J ’ly T2
9412 .
7H2 75*8 736 J 'n e '1
85‘s J ’ly '12
85 86
8312 ____ 83I4 Nov TO
105*4 - - - 123 M ay’99
75 Apr T2
VJU 75
74
77
75l2 Mch T2
73*4 - . 85*s J’ly '12
8512 8/
84*2 81 1011* Oct ’99
85 86 100 N ov '00
8J
86
S418 901; o4i2 J’ne t
9312 .
113*4____ 11712 M ay'lo
93
95
9 4i2 J’ly T2
113*2 117 114*8 J ’n e ’ l
114 Feb ’l l
90 Oct ’09
9?12 100
1013.1 . .
89
89
89
9&U___
____ 97
U5I4 953.
9212 ____
97*2Mch TO
93 ____
9234 943j
IOSI4 . . .
____ 10 )
C2's Sale
98 J’ ly 08
92*8 J’ ne T:
10812 J’ ly ’ 12
100 J ’ly T2
63
62.
94 M ay’ 12
723j 747}, 73
73
63 Oct '06
98
98 Sale 97*4
98 Sale 98
98
10712 10.(3. 107U J ’ly ’ ll
104 1051 104 M ay’ 12
io4i2 ioo*; 10«*4 J ’no 12
10412 1051' 105*8 J ’ne 'l .
____105
104l2 May’l
9712 ____ 98I4 J ’ly T:
113*4____ 114 May l:
11 li8 Dec ’ l l
10714 108 108 Nov'O
93 J ’n o ’u
9112 95
101i2 Feb TO
103 M ch'12
GO
8912
95 £6*4
8G*s SOI4
90*2 9912
94*78 *95*
7312 731*
8412 87*8
75 75
75*2 75**
85*2
86*4
9412 9614
9412 96
11418 HO
923g 96
108 1081*
100 10212
021* 661*
941*
74
9734IOOI4
4
4
9G3 98*4
10712 110
104 IOII
104*4 10512
105 106
1041? 10412
97
9814
11314 114
93
94*8
103 103
110 J ’l y ’ l
____ 112
96*4 M eh’ 12
95 . . .
9II4____ 94I4 J ’ly T
98 J ’no Ti
98 100
99*4 Oct ’06
90*8 97
95*2 J’ne T
16.1*1; 10412 Dec ’08
9o'S J’ly T
95*2 96
95 Jan ’ ll
104*2 107*4 IIOI4 N o v '00
103*2 104*; 10312 J ’n o ’ 12
10512 ____ 10714 Jan '12
93 M ay’ 12
91 96
109*4 1103S
96I4 9614
94
941*
98
98
112 1137. 112*8
112*
11134 ____ 112 Apr T2
98
98"
98?8 99
98 ____ 98*s J ’ly T
109 J ’ n o ’ 12
109
____111*2 111 M ay’ 12
103 . . . 10434 M ay’ l
121 ____ 121 M ch'12
117*8 . . . 117l2Jan '12
95 M ay'l
94*8 . . .
105*4 IO/I4 U)534 Mch
1121s
112i2Sale 112I9
691s 7218 6918 M ay’ l
9212 92*}, 9212 J’ly T2
II2I4 115 112i2 M ay’ l
105 . . . 106 A p r 'l l
9312 91*8 93 J ’ lV T2
104*3 J ’ly T
104*8 . .
89*8
89*8 9218 89
95 Feb ’05
109* 1091 1091" M ay’ l
101*8.--.
11012 . . . . 112 M ch’ l 2
lO'J’ s J ’ly T2
91*1 M cu’ 12 . . .
11219 1171*
111*2 112
98
99*8
98*8 98*8
iOS58 no**
111 111*8
104*8 105
121 121
11712 1171*
95 96
92
95**
*93 ’
97’ **
10312 1031*
10612 107U
93 9412
1121-113
6918 69*4
92
93
112*2 112*2
93
95
10-1*4 1045*
8878 89*8
109*2 10934
112 112
1091s 111*8
OU4 9114
MISCELLANEOUS BONDS— Continued on Next Page.
Street Railway
Mlnncap St 1st cons g 5s___1919
New Orl Ry & Lt gen 4 HS.1035
N V Rys 1st R E & ref 4s temp
Tem porary adl Inc 5s.............
Portland Ry 1st & ref 5s___1930
Portland Gen Elec 1st 5 s__ 1035
St Jos R y, L, H & P lstg 5s 1937
St Paul City Cab cons g 5 s .. 1937
Third Ave 1st ref is ctfs ___
AdJ Inc 5s Interim c t fs ____ _
Trl-Clty Ry & Lt 1st s f 5s. 1923
Underground of London 5s. 1920
4J^S...................................... 1933
Incom o 6s_______________ 1948
Union EIcc (Chic) l s t g 5 s ..1945
United Rys Inv 1st lien coll
trust 5s Pitts Issue............1926
M-N
82i2 85
8412
•No price Friday; latest bid and asked thi3 week,
85
a Duo Jan.
6
Street Railways.
United R ys St L 1st g 4 s . . .
St Louis Transit gu 5s —
United R R s San Fr s f 4 s ..
Va R y & Pwr lstdsreI5s—
1034
1924
1927
1934
J -J
A-O
A-O
J -J
(las and Electric Light
Atlanta G L Co 1st g 5s . . . 1947
Bklyn U Gas 1st con g 5 s .. 1945
Buffalo Gas 1st g 5s----------- 1947
Columbus Gas 1st g 5s-------- 1932
Detroit City Gas g 5s---------- 1923
Det Gas Co con 1st g 5s------ 1918
Det Edison 1st coll tr 5s— 1933
Eq G L N Y 1st con g 5 s . . . 1932
Gas & Elec Berg Co c g 5 s .. 1949
Gr Rap G L Co 1st g 5s------ 1915
833i 86*2 Hudson Co Gas 1st g 5s------ 1949
Kan Clty(Mo)Gas l s t g 5 s .. 1922
J-D
M-N
A-O
J -J
J -J
F-A
J -J
M-S
J -D
F-A
U-N
A-O
102
4 10U2102
J -J 102 1021; 102
8U2 8812
8714 J’ly T2
J -J ____8717S34
7
9
88
7734 81*8
78*4
Sale"
J -J
59*.t 1697 5U2 59*4
A-O
58*8 Sale 5734
09 99
M-N 100*4____ 99 Fob T2
J J
M-N 98 ____ 98 N o v ’08
105*4 100
J -J 108 ____ 106 J’ly T2
82*4 "*6* 8134 86
82*4 Sale 8212
7212 119 70*4 8OI4
7U2 Sale 71**
3 97*8 99
OS's
98
9« i4 98
A-O
98 Apr '09
M-N
95 96**4
J -J ____96
95*2
9512
17 7412 90
86
86 Sale 86
A-O
84 Oct '08
0 Duo Feb.
<I Duo April,
ft Due July.
757SU. . .
84
85
CO Sale
96i2 96.t
77*2 J ’ly '12
84
84
66
66
97
97
76*2
1 84
£ 66
1 96
80
85
70
971*
101
..
IO6I4 107*7;
10G*s 10/l2 107**8 107*14
60 63
02*2____ 6112 J’ly 'i t
94
1001s i o f
100*8 101 101 J ’n e ’ L
95*8 Sep '08
10138 1021#
10U2 ____ 10U2 J'ly '12 —
105*4 10534
____106*4 105*4 J 'n e ’ 12
103 ____ 0 ll2 Oct 01
99 ____ 100 Oct ‘09
1 10414 105*2
105*8
105 ____ 105*8
993, Jan T2
991a 99«4
k Due Aug.
0 Due Oct.
* Option sale.
_j
4
N.
New York Bond Record— Continued— Page 3
l l
BONDS
Y . STOCK EXOH AN GI
: S
^ i.
Week Ending July 19.
Price
Friday
July 19
JVecKi
Range or
Last Sal;
I 3
Range
Since
Jan. 1
X.
BONDS
Y . STOCK E X C H A N G E
Week Ending July 19.
[VOL. L X X X X V .
Range
Since
Jan. 1.
Week!;
Range or
Last Sale
Hid
As Low
II ig 1 No
NY C A II R— (Con) —
Bid
Ask ten
HUj.
Low H igtl
1\/fanlla R R — Sou Ilne3 4 s .193 ; M -f ' ____ 83
West Shore 1st 4s g u a r ..2.161 J
100 Sale 100
1001;
9934101
J-’ J-cxlean Cent Inc g .Is tr rects
25% Apr '0 __
Registered......................2.161 J98
98
98
97
98%
Equip A coll g 5s______ 191 A-(
............
N Y Cent Lines eq tr 4 >43 1923 J100% J’ly ’ 1
Mex lntcrnat lst con g 4s. 107 M-s
77 Mch 1) . . .
N Y New Haven * Hartf—
Stamped guaranteed.
197 M-s ________
79 -N ov 1) . . .
N on-conv deben 4s______ 1955 J 91% Sale 91%
91% 92
Minn A St L 1st gold 7s
102 J -l
____1291 129 Feb '1
129 129
Non-conv 4s_____________ 1950 U003, . . .
9134
91% 93%
Pacllle Ext 1st gold 6 s ...1 9 2 A-<
___ 10/
110% A u g 'l 1___
Conv debenture .1 !5s____1956 J90% ---90% J ’ly ’ 1
90
94%
lst consol gold 5s.
193 M- f> ____100
1 il% M ay’ l
101% 105
Conv debenture 6 s .......... 194« J 128-3.1 Sal 128%
i29
128 132%
61
62
ls t and refund gold 4s
19 1 11- f60
62
Harlem R -P tC hes 1st 4s. 1954 r.i99
.
.
.
99 J ’ly ’ 1
99
99%
Des M A Ft 1) ls t g u i s . . 193 J - ,
77
77
821 7 /
77
81
B A N Y A ir Line 1st 4s 1955 F09D J ’n e ’ l
99%. 99%
M StPA.SNH con g -Is lot gu.lOit J-J
901,, 07
96% J ’ly ’ l ___ 00
9734
Cent New Eng 1st gu 4s. 1961 J. 1 “ *92*t 921- J ’ly ’ I
92% 93%
lst Chic Terral s f 4s____194 -U 5
96% 971 97% J 'n e '1
971, 971,
Hous,atonic It cons g 5 s .. 19.17 M111
111 115
115 M ch’ l
96% . . .
96% M ay’ l
M S S M A A 1st g 4s In t gu 1921 J-J
9G% 96%
N Y W 'ch e s A B lsts e rl 4 %s '46 J 100% Sale iOJ
98
100%
1001
Mississippi Central lst 5 s ..l0 4 i J -J
98% M ch’ l ___
. N H A Derby cons ey 5 s .1918 >1102i2 . .
107 A u g ’O
U5
Mo Kan A Texas lst gold 4s 199. J U 95
951 iM3|
2: 94
07
' New England cons 5s____ 1945 J ffl09i F-A
2d gold 4s..................
81% 8U 8133
84
: 80
84!<
Conso' 4 s .................... .1945 J 99% M ch’ 12
99% 100
lst ext void 5s...........
194- M -f 100 101 101% J ’ly 'L
101 1021"
Providence Secur deb 4S.1957 Al-N ____82
81 J ’ly ’ 1:
84
84
lst A refund 4 s . . . .
200- M-S
77% J ’n o ’ l
77% 78
77% 811" N Y O & W ref 1st g 4s___(/1992 M
■____ 941 92% J ’ly ’ 1
02% 00
87% 88
Gen sinking fund 4 H s ...l9 3 < J -J
87%
87/
1. 87
89%
Registered $5,000 o n ly .p l 992 M92%
J
’n
o
’
U
92%
92%
.St Louis Dlv 1st ref g 4s.20b A-O ____ 781 78
78
26 76
General 4s_____
1955 J -D
89% Feb ’ 12
89% 89%
Dal A Wa lst gu g 5s
1941 M-N 105%____ 105% Mch ’ 1'
10o-38 1053s Norfolk Sou 1st & ref A 5s 1961
10J Sale 100
100
99 100%
00 00) 01 j ’n e ’ L
Kan C A Pac 1st g 4s____199' F-A
90% 91 " Vorf A South 1st gold 5s. 1941 M-N 103% . . . 10234 Apr '12
102% 10234
Mo K A E 1st gu g 5s__ 1942 A-O 108 108-1 108
103 . 1 los n o
Vorf A West gen gold 6 s ..1931 i>l-N 121%
25%
J
’ly
'12
1233s 125%
M K A Ok 1st guar 5s__ 1912 n-N 105% 1061 105%
1053.
1 105% 107%
Im provem ent & ext g 6s 1934 F -A 124 12o 124% May’ 12
124 1203(|
M K A T of T 1st gu g 5s. 19-12 M-S 101% 1031 101 J ’ly ’ l:
101 ■104 “
New River 1st gold 6 s ...1 9 3 2 A-O *122
124 M ay’ ll
124 124
Sher .Sli A .So lst gu g 5s 19 i: J-U ____104
10378 l>'eb Mi
103% my
N A \V Ry 1st cons g 4S..1990 A-O ____ 981 98-33
981
98 9978
Texas A Okla 1st go g 53 1942 M-S 102 1051 1037(i Mch Ml
10378 1051,
Registered....................... 1996 A
____ 9834 98 Jan 1
Missouri Pac lst cons g 6s__192( M- N ____1031 106% J ’neM.
DIv’l 1st 1 & gen g 4S..1944 J-J
9134 91
9 134
921
"9*1% "94”
Trust gold 5s s ta m p e d ._ a l9 1/ M- S 98% 99
99
99
8 98% 100%
J-D ____116% 116% 116%
10-25-year
con
v
4s____1932
107% 11634
97
98
Registered___________ al91 Al- b
97 M a y'll
97 ’ 97 ’
M15 116 115
10-20-yr conv 4s full pd ret
11534
108 116%
1st collateral gold 5s__ 192( F-A
97 100
98 J ’ly ’ 4
9778 166%
Pocah C & C join t 4s. .1911 j - D
91
91
91% 92
91
94
Registered____________ 192C F-A
J-J
C
C
&
T
1st
guar
gold
5
s
.1922
IO6I4
.
.
.
1063s M ch’ 12
1063s 106-38
40-ycar gold loan 4s_____ 194-' H-S
71
7U- /"l
71%
Sclo
V
A
N
K
1st
gu
g
4s
1989
M-N
95
96
96
95
98%
_____
_
3d 7s extended at 4 % __ 1938 M- N
96% M ay’ ll
Northern Pac prior 1 g 4s. 1997 Q -J
98/8 Sale 98%
98"s 1003,,
9U3g
lst A ref con v 5s_______ 1951 M-S
86% Sale 85%
861; 43
Registered........... . .
1997 y - j
97
9814 J ’n e ’ l:
O8I4 99%
92 . . . 92 J ’ly M2
Cent Br R y lst gu g 4 s .. 1o il F-A
92 92 '
Q-F
General
lien
gold
3
s
.
.
.
«2047
6878
Sale
0834
09%
6834
70%
Cent Br U P 1st g 4s____1948 J-D
75 SO 81 May'12
81
81
Registered................ n2047 Q
68 . . .
68 D e c ’ ll
Leroy A C V A L lst g 5s..l92f J -J _ _
110 M ch’05
___ 96
St Paul-Duluth Dlv g 4s 1996 J -D
95
97
96
J
’ly
'12
90%
Pac R of Mo lst ext g 4s.l9 3 t F-A
93 . . Olio J ’ly ’ 12
91% 96
Dul Short L 1st gu 3 s ._.1916 M-S 100 Sale 100
1 100 100
100
2d extended gold 5s. 1938 J -J 102 105 108% M ay’ ll
St P A N P gen gold 63 1023 F -A 1153s . . .
15% J ’ly '12 —
115% 115%
StL Ir MAS gen con g 5s_ 1931 A-O 101% Sale 101%
1011;
8
Registered certificates 1923 y - I
U434 . . .
15%
Aug
’
l
l
Gen con stamp gu g 5 s .1931 A-O
111 Sep 'Ou
St Paul A Duluth 1st 5s 1931 F-A 109 ___ 107 Jan 12 —
1*07 107
Unified A ret gold 4s 1925 J -J
79
80
793s
79% 16
2d 53........
1917 A-O *10234 . . . 102-3.1 j'n e 11
Registered__________1929 J -J
80 Mch M2
78 80
1st consol gold 4s
1968 J
91 . . .
J ’ n e ’ ll ~
*92% *9 1 "
Hiv A G DIV lst g 4s 1938 M-N
83% 16 82% 84
83% Sale 83%
Wash Cent 1st gold 4s
19 IS
89*3___
91% Apr ’ ll
Verdi V 1 A W 1st g 5s 1926 M-S
102% Jan ’ ll
Nor Pac Term Co 1st g 6s 1933 T " i n
...
' ( 111% 11 1*4
11%
mi
Mob A Ohio new gold 6s. 1927 J -D 110% 119% 119% J’ ly ’ 12 ___ 119% 121
1
j---- - 913g 91%
16 91
91%
9234
1st extension gold 63__ 7,1927 O -J 114 11/ 11534 Feb M2 ____ 11534 115%
J-D io:l s 101 101 J ’ n e ’ 12 —
103% 101
General gold 4s____
193s M-S ____ 88
68% M ay’ 12
86% 8731
enna R R 1st real estg is 1923 ftl-N IO9I4 101-3, o(l% J ’n e ’ l 2 ___ IOOI4 102
Montgom Dlv 1st g 5s. 19-17 F-A 103% 1JJ 103% J ’n e ’ 12
103% 1103
Consol gold 5s_______
1919 M-S ____198
10 Mel] 'IV ___ 108 110
St L A Cairo coll g 4s
e l 936 y - F ____ 81% 83y J ’ne 12
83
83%
Consol gold 4s_.
1943 M-N ____1021 10234 Mch 'll ___ 102 1(14
Guaranteed gold 4s
1931 j - j
93% Mch Ml
Convertible gold 3 ‘4 s '" l 9 1 2 M-N U9<8 100
9 9 *3
100
2b 99% 100%
VTasliv Ch A St L lst 7s .1931 j - j 102% 103 102% 102%
1 1023, i(j.
Convertible gold 3 K s 'o l9 1 5 J -D
9713 Sale 97%
97 % 11. 96% 9778
*-N lst consol gold 5 s . . .
1928 A-O 109%____ 109%'
10.)%
10938 10J-3;
Registered......... “ “ yi915 J -D
It 97
97 Sale 97
97
97%
Jasper Branch lst g 6s 1923 J -J U1 . .
U573 N o v MO
“ ■ 1948 M-N 10334 19. 103%
Consol gold 4s____
L 102% 101%
103
McM M W A A1 lst 6S...1 9 1 7 J -J 100%____ 10734 Mch M2
16734107%
Alleg Val gen guar g 4s” 1942 M-S
9J7S
May’
12
9
U
->
3
100
T A P Branch lst 6s
in 17 J -J 106% . .
113 J ’ly ’04
F-A
01
* B*e lst
4sgl930
Nat Rys of Mex pr lien 4 j 5s. 1957 J -J ____ 91
SJ%
89)4 19 8.)
929.
Plilla Balt & W lst g 4s. 1943 M
May'12 7 7 l6l78 162%
Guaranteed general 4s. 1977 A-O
8i
81
83
83
3 8212
Sod Bay A S’ou 1st g 5s 1924 J -J
Jan 03
Nat of Mex prior Hen 4 Jjs 1926 J -J
99 ____ 99 Mch M2
99 “ 100 ‘
Sunbury A Lewis 1st g is" 1936 J -J
90 .
lst consol 4 s__
1nil 1 A -()
78 ____ 78G J ’ly '12
77% 8)
C N J R R A Can gun 4s 19 14 AV-S 10H - ____ 101% May’l2
101 101%
N O Mob A ; hie lst ref 5s 1960 J -J ------ 90%
1 90
90
90
95
(’ enna Co guar lst g i ><is " ’ 1921 J -J 103 1031; « % J’ly ’ 12 ___ 103 101
N O A N E pr'or lien g 6s..p H ) 15 A-O 103 100’
Registered____
* "l9 237
l J-J IO2I3 .
103 Aleh’ 12
103 103
.
.
.
o
w
.......................
New Orleans Term lst 4s 1953 J -J ------ 87%
87% J’n e 'l .
877.4* 881"
M-S
883,____ 89% Apr 12 ___ 88% 89%
•V Y Central A 11 it g 3 jjs 1997 J -J
8/ Sale 87
87% 64
11 F -A
88 ____ 883,( M ay’l2 ___ 88 883.,
1997 J -J
Registered_______
80% ____ 87% J ’ly M2
M-N 971 - . .
97%
97%
7 97% U.S%
93
933, 92%
93
Debenture gold 4s.
19.1. M-N
k
Guar 3 Hs trust"ctfs C ^ ' l o t l J-D
88 M ch’ 12
83
88%
Registered_____
1934 M-N
93 May M2
Guar .1 tjs trust etfs d “ "194 1 J-D
861- .
8734 Jan 12
87% 87-34
Lake Shore coll g 3 >53
1998 F -A
81% Sale 81%
81% 42 SO/)} 85
Guar 15-25 year g 4 s ..
1931 A-O
9634 96 J ’ly ’ .2 —
96
96
98%
R egistered.....................1998 F -A
79% 82
79 J ’nc'12'
79 " 8i
963. 96% Deo '11
Cln Leb & Nor gu 4s g "*1942 M-N *32
79% 79% 79%
Mich Cent coll gold 3 ,4s. 1998 F-A
7934
5
Cl & Mar lst gu g 4 % s ..l9 3 5 M-N 103 105
10 Jan ’05
Registered_______ . 1998 F-A ------ 79%
2 773j 791:
7S38
73-38
Cl A P gen gu g 4 %s ser A 1942 J-J 105
10734 Dec 11
__
98% 99
Beech Creek lst gu g 4 s ..1936 J -J
99% J ’110’ 12
Series B_______
1942 A-O 105
1093.! J ’ly 09
97% ____ 99 M ay’ ll
Registered...................... 1936 J -J
Int reduced to*3*nsIl9l2 A-O
9H 4____ 91% Feb '12
91% 91%
2d guar gold 5s_____
1936 J -J 107 ____
Series C 3 >4s.........
1918 M-N 0I14 92% 91% May’12
91% 91%
______
Registered.............. 1936 J -J
Scries D 3 H s.........
“ 1950 F-A
911.1____ 90 May os
Beech Cr Ext lst g 3 4 s .ftl9 5 l A-O _________
Erie * Pitts gu g 3 Us ii.1910 J -J
Oil4 . . .
91% May T2
91% 91%
___
Cart A Ad lst gu g 4s
1981 J -D
97G Apr ’09
Scries C __________
1910 J -J
98-34 A p r ’01
9H4 . . .
Gouv A Oswo 1st gii g 5s 1912 J -D 108 ____
Gr R A I ex lst gu g 4*%s*19 11 J -J 101 1017S to 4 J ’n e ’ 12
105
Moh A Mai lst gu g 4s. 1991 M-S
99% M ch’ ll
Pitts Ft W & C 1st 7s
1912 J -J
)0 May T
101%
N J June R gua'r 1st -is 1985 F-A
90 100 105 Oct ’02
2^ 78..................................1912 J-J
10373 l-’eb Ml
Registered_______
1980 F-A
3d 7s____________
/|1912 A-O
101 Dec ll
N Y A Harlem g 3 4 s
201); M-N 83%____ 89 M ay’ 12
ls t "con" 5s. 1927 M-N 107%------ 109 May 10
Registered..... ..........
2000 M-N
J ol W V A O gu 4 l^g
19a 1 J -J lOE-s------ 10213 J ’no M:
1013.! 102%
N Y A Northern lst g 5s 1927 A-O ____107
103 Oct '03
Series B 4 H s ._ ____I " 1933 J -J 101%
100 J 'ly 10
N Y A Pil lst cons gu g -Is 1993 A-O ___ 935. 9778 Aug Ml
Series c 4s________
1942 M-S
95U
Nor A Mont lst gu g 5 s .. 1916 A-O
P C C & St L gu 4 Ms' a “ 1940 A-O 10 1% 1063S l-j-t-’.i J ’ly 12
101*4 100-34
“
Pine Creek reg guar 6 3 . .. 19.12 J -D 120% . . . . 131% Jan 09 _ _
Scries B guar_____ . 1912 A-O 104% 10134 10 13, J 'ly M2
043. 107
R \V A O con 1st ext 5e.ht922 A-O 100%____ 10634 J ’ly M2 __ 105% lin k
M-N
Series
C
guar___
1912
101
10/
106
J
’n
e
'll
Oswe A R 2d gu g 5s__ c l 915 F-A ____10.1' U)1 Mch 12
101 l;)i 1
Scries 1) 4s guar____I I 10 15 M-N 97 ____ 9/1" J ’n e ’ L.
97
99
R W A O T R lst gu g ,s. 1918 M-N lbo q 10/ 101 J ’ ne MO
F-A
Series E 3 Ms guar g . .19 19
it i 3 991^ ‘ 3% Feb M2
93% 13%
Rutland lst con g -1 4 s 1911 J -J
06% ------ 98% Mch M2
97*% 981]
Series F gu -is g ____
1953 J -D
97 ___ 97 J ’ly M2
97
97
811.. 85% 88%
8158 10 84 86
OgALCham lst gu -is g 1918 J -J
Series G 43 guar.............1957 M-N 07
99
97 J ’ly M:
97
99
Rut-Canad 1st gu g 4 s .1949 J -J
92 J 'n o ’09
C St L & P 1st con g 5 s . . 19.12 A-O 1103,____ 131" N ov Ml
St Lawr A Adir lst g 5s. . 1990 J -J 107%____ 115 J ’n e '09
1921 y - F 106%____ 09 M ay’ ll
------.
P ;o & l ’ek lIn lst g 6s .
2d gold 6s.............
1996 A-O 110 ____ .19% Men M2
119% 110%
2d gold 4 H s_______
61921 M-N 90
99
93%Jan Ml
f-tica A 111k R lv gu g 4s 1922 J -J
99% N o v ’ l l
:re Marquette— Ret 4s___1955 J-J
51 ____ 61)3, Apr M2
603.1 6034
Lake Shore gold 3 4 s . .
1997 J -D
88% 89% 89% J ’ly 'll
Refunding guar 4s............1955 J -J ----- . . . . 68% N o v ’ ll ___
87% 89%
R e g iste re d ........... .. .
[997 J-U
87% j ’ly M2 __ 871., 8S3j
Ch & W M 5s..................... 1921 J-D ------------- 99% Feb M2
99% "99%
12
Debenture gold 4 s .. .1923 M-S
031., 93% 9.1%
93%
93% 941"
Flint A P M g 6s_________ 1920 A-O ................ 1 0838 M ay’ 12 ___ 108
1083a
25-ycar gold 4s__
1931 it-N 93% Sale 93%
93% 88 93
iM-N
9378
A
OI. CUU3UI
IU. 5s_____
d a .___ .11939
90
lst
consol KU
gold
98% Apr M2
98% 100
Registered_______
1931 M-N
92% Apr M2 ___ 92% 93%
A-O
...........................................
1939
Pt Huron Dlv lst g 5 s .193
97% M ay’12 —
971- 971a
................
Ka A A G R 1st gu c 5s. 19.18 I- 1 1081,____
Sag Tus A H lst gu g 4 s .193
1931 F-A
Mahon C’l R R lst 5s 1931 J-J 110%____ 111% M ch’ l l
* P
J- J I I I . "SOI; SO M a y'll
84% '86 "i
Pitts A L Erie 2d g 5s. . a 1928 \ -o 1051,____ 05 A p r ’ 12 ___ 105 105
A-O 111 113
P
13 J ’ly M
13 113%
Pitts MeK A Y lst gu 6s. 19.12 f-.l 121%____ 30% Jan ’09
j 13% N o v ’ l l
lst consol gold 5s_______ 19 13 J-J __ _
2d guaranteed 6s____ 193-1 l-.l 123 ____ 231, Mch M2
123% 1231, p tending Co gen g 4s______ 1997 J-J
9/.% 12:1 9733 '985
97% Sale 973S
McKees A B V lst g Os. 1918 l - J 103 ____
b R e g iste re d ....... ................1997 J-J
96% ____ 98 A p r ’ 12
9734 98%
Michigan Central 5s......... 1931 l-S 1084 115
1l Jan M2
il l i i
Jersey Cent coll g 4s____1951 A-O ------ 0678 007s J ’ly M2 —
967s 98%
Registered________ 1931 ,-A l 1071.. 112
Atlan City gu 4s g ______ 1951 J- J
4 s -------- . _____ _____ 1940 -J . . . T 90
98 A p r ’ 12.
98
93
Cj t Jo & Gr Isl lst g 4s____1947 J-J *87
93
87% J'ly M2
8 6 ’ *89%
Registered............. .. 1910 l-.l
98!o N b v ’ l 1
....
C t L & San Fran gen g Os. .19.11 J-J 11834 119P 118% May’ 12
183.; 119%
J L A S 1st gold .1 4 s . . 1951 M-S
90 J ’n e '0 8 .
General gold 5s..................19.11 J-J . . . 11)734 107% J’ n e ’ l'.
107%
108%
_
_
1st gold .1 4 s __________19 52 l-N
87 ___ 86% M ch'12
H6U 86%
85
887s 88% Feb M2
St L A S F R R cons g 4s. 1996 J-J
88
88%
20-year debenture -Is.. 1929 \ -o ------ 90%
2 891, 93 4
90%
90%
Gen 15-20 yr 5s........... 1927 M-N 80% 87
86<%
87
b 863.1 88%
N Y Chic A St L i s t g 4s. 1937 \ -0
99% 100
93%
09% S5 99% 100%
98% ____1 00 Oct ’ ll
Southw Dlv lst g 5 s .. 1947 A-O
Registered................ ......1937 \ -o
99% Mch M2
99 99;%
Refunding g 43............. 1951 J-J
78% 70% '77%
79
35 773; 8134
Debenture-4s.
1931; 1-n I 89
89"% 90 J ’ne M2 —
89% 91
Registered__________ 1951 J-J _________ 80-% M ch’ ll . . . .
A1ISCELLANEOUS BONDS— Continued on Next Page.
(ias and Electric Light
Kings Co El L A P g 5s____ 1937 A-O
Purchase money 6s............ 1997 A-O
Convertible deb 6s_______1922 M- S
Ed El II Bkn lst con g 4 s .1939 J-J
Lac Gas I, of St I. lst g 5 s..el9 1 9 Q -F
Ref and ext lst g 5s..........1934 A-O
Milwaukee Gas L lst 4s____ 1927 M-N
Newark Con Gas g 5s............ 1948 J-D
N Y G E L H & P g 5s____ 1948 J-D
Purchase money g 4s____ 1949 F -A
Ed Ei 111 1st cons g 5s__ 1995 J- J
NY A Q El LA P lst coilg 5S.1930 F-A
N Y * Rich Gas lst g 5s. .1921 M-N
P ad lie G * El Co Cal G * E
Corp unifying A ref 5s. .1937 M-N
Pac Povv & Lt l st & rei' 20-yr
5s Internet Kerlo ■............ 1930 F-A
Pat * Passaic O A E 5 s ,___1949 M-S
104 101% 104% J ’n e ’ 12
115 II784 117 J ’n e ’ 12
125%____ 118% Deo MI
88% Deo Ml
1*0*2% “ “ 102 J ’ly M2
101G102 102
102
90% 91% 90% J’ne M2
10583____ 106% Apr M2
103% Sale 103%
101%
88% Sale 88%.
8834
113% Mch M2
101% f()2 " 102% Mch M2
02% J 'ly '09
95f2 Sale 95%
93% Sale
1)2% ____
•No price Friday: latest bid and asked,
93%
a Duo Jan.
95%
931;
•
Gas and Electric Light
101% 1051- Peo Gas A C lst con g 6s___1943
115%U7
Refunding gold 5s______ 1947
Registered_____________19-17
Ch G-L * Cko lst gu g 5s. 1937
101% 103
Con G Co otCh lst gu g 5s 1936
109% 102
Ind Nat Gas A Oil 30-yr 5s ’36
89% ijo%
Mu Fuel Gas l s t g u g 5 s .. 1947
106% 1061.,
Registered....................... 1947
102% 104% Philadelphia Co corn’ 5s___1919
88% 891 Stan Gas A Elec conv s f 6s . - 1926
112% 113% Syracuse Lighting lst g 53.1951
102 102% Syracuse I. A P 5s.................1954
Trenton G A E lst g 5s____1949
Union Elec L A P lst g 5s. .1932
94 96%
Ret A ext 5s....................... 1933
Utica El L A P 1st g 5s____1950
93% 95
Utica Gas A E ref 5s.............1957
Westchester Llght’g g 5 s. 1950
ft Duo Feb.
« Due May
a Due Juno.
/»Duo July.
____117
117 J ’lv ’ ll
101%10l7t lo n 8 J ’ly M2 . . . .
103 Feb ’09
1021" Sale 102%
102%
1
10U" 10 i 103 •J’ly m
____ 90
93 Mch M2
100%____ 101% Moh’ 12 —
.
____10)
100 Feb M2
100 100% 111
101
3
_____ . , 101 T)cc Ml
____ 86% 85% J ’n e 'li I __
103 ____ 100 Feb '01
100 ____ 101 Apr M2
97
97% 9 7
07
4
103 . . .
__ _
1110% Dec Ml
105 1051" 10'%
105%
1
iiDuc Oct. p Due Nov.
n 6 % ii7 ii
1015S 102%
1021" 104%
1011" 103
93
93
100% 101%
U)7
100
109 ’
101
85% 86”
till 101*
96% 98%
1*04*38 [6 m J
3 Option sale.
BONDS
Y. STOCK EXCHANGE
Week Ending July 19.
Interest
Period
N.
165
New York Bond Record— Concluded— Page 4
J u l y 2 0 1912 ]J
Price
Friday
July 19.
Weekfs
llange or
Last Sal:
BONDS
Y. STOCK EXCHANGE
Week Ending July 19.
Bid
Ask IjOW
High
St L & San Fran (Con)
116*4
vyabash 1st gold 5s........... 1939 M-N
K C I*’t S & il con g (is. .1928 M-N 1 1 1 ll.il; 115
** 2d gold 5s................... 1939 F-A
78%
K C Ft S & M Ry let g 4s. 1980 A -0 ------78*8 78*3
Debenture Series B___ 1939 J-J
79 Sep '1 0
Registered.......... ......... 1930 A -0
1st lien equip s fd g 5s__ 1921 M-S
K C & M It & B 1st gu 5 s.1929 A -0 103%___ 100% Dec ’09
9914 100
1st lien 50-yr g term 4 s .. 1954 J-J
Ozark Sc Ctl C 1st gu 5s g.1912 A -0 99*4 9978 90% J’ly '12
1st ref and ext g 4s
1956 J-J
90% 9212
91
St L S W 1st g 4s bd ctfs._1989 M-N 90% 91 90%
8034 83
81 ___ 83 J’ne'12
Cent ’i rust Co ctfs..............
2d g 4s Inc bond ctfs___ ?)1989 J-J
79 846
81%
Do Stamped__________
Consol gold 4s__________ 1932 J-D 81 813g 81%
Equit Tr st Co ctfs............
Gray’s Ft Tor 1st gu g 5s. 1947 J-D 09%___ 101% Apr '07
8 GI4 8734
87%
Do Stamped___
....
S A & A Pass 1st gu g 4s__ 1943 J-J
87 Sale 87
Det A Ch Ext 1st g 5s...1941 J-J
101 Oct ’09
S F & N P 1st sink I g 5 s..1919 J-J
87 87*8
Seaboard Air Line g 4s___ 1951) A-O 8634 871? 87 May’12
lies Moin Dlv 1 st g 4 s
1939 J -J
Om Dlv 1st g 3 Hs........... 1941 A -0
8 GI2 90
Gold Is stamped________ 1950 A-O 86*4 87% 8738
873g
lol A Ch Dlv 1st g 4s___ 1911 M-S
Registered...................
1950 A-O
79 8414 Wab Pitts Term 1 st g 4 s__ 1 9 5 4 J-D
Adjustment 5s._........... 01949 F-A £1% Sale 80*4
81%
Cent A Old Col Tr Co certfs..
8 OI2 83
S0%
Refunding 4s______
1959 A -0 ----- 80% 80%
87 90
Columbia Tr Co ctfs
..
83
Atl-Ulrm 30-yr 1st g ls.el933 M-S 87 89 87
2d gold 4s_____________ 1 9 5 4 J-D
92*4 9312
Car Cent 1st con g is___ 1949 J-J
01% 93 93% A p r'12
Trust Co certfs.
_
Fla Cen Sc Pen 1st g 5 s.. 1918 J-J 1 0 1 % ___ 103 May’ ll
1945 F-A
101 101 Wash Terml 1st gu 3 f<s
1st land gr ext g 5 s.. 1930 J-J 102 ___ 101 May’ 12
1st 40-yr guar 4 s.. .*
1 9 4 5 F-A
107 107
Consol gold 5 s.. . . 1943 J-J 106% 107 107 J’n6’ 12
1053, 10714 West Maryland 1st g 4 s .. 1952 A -0
Ga & Ala Ry 1st con 5s.ol94 J-J 106%___ 100% J’n c’12
105% 10534 West N Y A Pa 1st g 5s. 1 9 3 7 J-J
Ga Car A No 1st gu g 5 s.1929 J -J 103% 103% 1051? May’ 12
Gen gold 4s..................... * 1 9 4 3 A-O
105 1061s
Seab & ltoa 1st 5s .
1920 J -J 104 1 0 0 % 105 May’12
Income 5s______
dlU4 3 Nov
Southern Paeltlc Co—
90%
9014 9212 Wheeling A L E 1st g 5s.I 1920 A -0
Gold 4s (Cent Pac coll) _fcl049 J-D ___ 90% 00%
Wheel Dlv 1st gold 5s. 1928 J-J
91 J’ly '1 2
91 91
Registered...................fcl9l9 J-D ___ 91
94% 97
Exten A Imp gold 5s____1930 F-A
947g
20-year cony 4s...............01929 M-S 94% Sale 91%
RR 1st consol 4s_______ 1949 M-S
95% 97
96
Cent Pac 1st ref gu g 4S..1949 F-A 95' U6*4 05*4
20-year equip s f 5s__ 1922 J -J
94%
94%
D412 941;
Registered __________ 1949 F-A ----- 07
9012 9112 Winston-Salem S B 1st 4 s . .I960 J -J
Mort guar gold 3 >is../cl929 J-D 90% 91 90% J’ly '1 2
90 927g Wis Cent 50-yr 1st gen 4 s..1949 J-J
91
Through St L 1st gu 4s. 1951 A-O 91 93% 91
SupADul dlv A term 1st 4s ’30 (M-N
10.-jl2 107
G 1 1 4 S A M & P 1st 5s. 1931 M-N 105% 101%, 103% J’ne'12
102% IO-134
Gila V G & N 1st gu g 5 s. 1924 M-N 101%104 1 0 2 % J’ly ’ 12
104 101% Manufacturing and Industrial
Hous E & W T 1st g 5 s .. 1933 M-N 101*4 1017f 104 J’ne'12
104%101% Allls-Chalmers 1st 5s______1930 J -J
1st guar 5s red_______ 1933 M-N 103*4 105 101 % May’ 12
109% 110
Trust Co ctfs deposit............
H & T C 1st g 5s lnt gu._1937 J-J 109%___ 109 % May'12
1 0 7 %Sep ’ ll
Am Ag Chein 1st c 5 s . __ 1928 A -0
Consol g Gs lnt guar.. 1912 A-O
951?
95%
91% 951; Am Cot Oil ext 4 }jS............. 1915
Gen gold 4s lnt guar.. 1921 A-O 94
Debenture 5s.......... .. . 1931 ;H-N
Waco & N W dlv 1st g Gs ’30 M-N 114 118 119 % Mch’ ll)
107% 107% Am Hide A L 1st s f g Os.-.1919 M-S
A & N W 1st gu g 5 s __ 1941 J-J 100 108 10712 Fch ’ lAmer Ice Secur deb g 6s. 1925 A-O
l l 2 %Sep 'll
Morgan’s La & T 1st 7s. .1918 A-O 111 . .
Am Smelt Securities s f 6 s ..1926 F-A
1st gold G s............ ...... 1920 J-J 108 1 1 0 % 111 Mch’ ll
Am Spirits Mfg 1st g 6s___ 1915 M-S
N Y Tex & M gu 4s g ___ 191 2 A-O
Am Thread 1st co1tr 4s___ 1919 J-J
1 12 Feb ’07
No of Cal guar g 5s...........1938 A-0
Am Tobacco 40-yr g 0s___ 1944 A -0
102
J’ly 'll
Ore A Cal 1st guar g 5s 1927 J -J
Registered.............
1914 A -0
So Pac of Cal— Gu g 5s .1937 M-N 110*4 . 116 May'07
Certificates of deposit............
91%
So Pac Coast 1st gu 4s g 1937 J-J
90 J'ly '09
Gold 4s.....................
1951 F-A
00% 92
San Fran Tcrml 1st 4s 1950 A-O 90% Sale 90% w 90%
100*4 Mcll'12
Registered.......... .......... 1951 F-A
10034 10034
Tex & N O Sab Dlv 1st g Os ’ 12 M-S 100 .
Certificates of deposit____
J-J ----- 105 101 % May’ ll
9473
P Lorlllard Co7stem’pry bds.
9 4 % Sale 94%
04% 953S
J-J
5s temporary bonds...........
107 1083s
Southern 1st consol g 5s__ 1994 J -J 107% Sale 107% 107%
105 Sep 'll
LIgg A Myers Tob Co7s tpy bds
Registered___________ 1994 J-J
78 7934
5s temporary bonds .
78*8
A-O 7fc*a Sale 78%
85% 87% Am Writs Paper 1st s f 5 s.. 1919 J -J
M-S 85 8 GB 86*1 J’ne ’ 12
Baldw Loco Works 1st 5s. 1940 M-N
108% 111
Mem Dlv 1st g 4H-5s.__1996 J -J 1 0 8 % .... 109 May’12
8934
1 9 2 0 J-J
88% 90% Beth Steel 1st ext s f 5s
St Louis dlv 1st g 4s___ 1951 J-J
89*4 90 8934
1077,1 N ov'10
Cent Leather 20-year g 5s 1925 A-O
Ala Cen R 1st g Gs..........1918 J-J
Consol Tobacco g 4s.......... 1951 F-A
85% 8 8 % 901? N ov’ ll
At! A Danv 1st g 4s___ 1948 J-J
81%___ 82% Feb T2
Registered__________
1951 F-A
82% 82%
2d 4s............................... 1948 J-J
Corn Prod Ref s f g 5s........ 1931 M-N
Atl A Yad 1st g guar 4 s..1949 A-O 81%
. 105*4 Dec '11
1st 25-year s f 5s________ 1934 M-N
Col A Grecnv 1st Gs____ 1916 J-J 104
10734 108% Cuban-Amer Sugar cod tr 6s 1918 A-O
E T Va A Ga Dlv g 6s__ 1930 J-J «107*4___ 1077S May'12
1 1 0 % 11134 Distil Sec Cor conv 1st g 53.1927 A-0
Con 1st gold 5s______1956 M-N 1 1 0 % 110 % I10*i J’ne'12
E I du Pont Powder 4 ^ s . . 1 9 3 6 J-D
105% 106
E Ten reor lien g 5s........ 1938 M-S 105 105B 103% J’ly '12
01% Gib Gen Electric deb g 3 J^s. . 1942 F-A
Ga Midland 1st 3s____ .1946 A-O 64 67% 0 4 !.. J’ly ’ 12
111 11278
10-yr g deb 5s.................. 1917 J-D
Ga Pac Ry 1st g Gs______1922 J-J 110% 112% ill J’l y ’ 12
114 115 Gen’l Motors 1st lien 6s___ 1915 A-0
Knox A Ohio 1st g 6S...1925 J-J 113%___ i l l J’ne’ 12
111 Steel deb 4 %s.
. 1 9 4 0 A-0
Mob A Blr prior lien g 5 s.1945 J-J 104%___ 1051? Nov'10
Indiana Steel 1st 5s (rects>‘ l952 M-N
78% . . . . 78 Dec ' 11
Mortgage gold 4s........ 1945 J-J
104% 104*4 lnt Paper Co 1st con g 6 s.. 1918 F-A
Rich A Dan con g 6s__ 1915 J-J 104%___ 1 0 1 % J’ly ’ 12
104 10434
Consol conv s f g 5s..
1935 J-J
Deb 5s stamped____ 1927 A-O 103%___ 104*4 A p r’ 12
71 M ch'll
lnt St Pump 1st s f 5s........ 1929 M-S
Rich A Meek 1st g 4 s .. 1948 M-N
10234 104
Lackaw Steel 1st g 5s____ 1923 A-O
So Car A Ga 1st g 5s__ 1919 M-N 102*4 . . . 102*1 J’ne 12
1st con 5s Series A ...........1950 M-S
Virginia Mid ser 0 Gs___ 1910 M-S 101%. .. 112 Oet '00
101 % J’n e 'll
5-year convertible 5s___ 1915 M-S
Series D 4-5s_____
1 9 2 1 M-S 10334 .
Mexican Petrol Ltd env 6s A ’21 A-O
100 M ch'll
Series 13 5s______ III 11926 M-S 105
Nat Enam A Stpg 1st 5 s ...1929 J-D
Series F 5s_________ 1*1931 M- S 105%___ 105 J’ne'll)
108 108% Nat Starch 20-yr deb 5 s.. 1030 J -J
M-N 107 108% 10SU May'12
National Tube 1st 5s rects 1952 M-N
. . 1081 .. J'ly '11
Va A So’w’t 1st gu 5S.2003 J-J 108
1st cons 50-year 5S..1958 A-O 90 96*.- 96*4
96*4
96% ’ 97**4 N Y Air Brake 1st conv 6s. .1928 M-N
Ry Steel Spgs 1st s f 5s___ 1921 J -J
90 90
W O A W 1st cy gu 4s__ 1924 F-A 92%___ 90 Mch '12
West N C 1st con g Gs__ 1914 J -J 102*4 . . . 103 May 12
103 103% Rcpub I A S IstAcol tr 5 s.. 1934 A-0
10-30-year 5s s f............... 1940 A-O
1021? Apr 'll
J-J ----- 103
105 105 Standard Milling 1st 5s___ 1930 M-N
A-O ----- 105% 105 Mch ’ 12
1103.1112% The Texas Co conv deb 0 s. .1931 J-J
1st con gold 5s__ 1894-1944 F-A 110*4 112% 110*4 J’ly ’ 12
Union Bag A Paper 1st 5s..1930 J-J
04 96
94% 90 941 .) J’ne'12
Gen refund s f g 4s______1953 J-J
Stamped_______________ 1930
107 % J'ly '1 2
107% 1071
St L M Uge Ter gu g 5 s.. 1930 A-0 107%
1081?
107 110% U S Lcj>th Co 8 f deb g Gs__ 1913 M-N
Tex A Pac 1st gold 5 s ... 2 0 0 0 J-D 108 108% 108
U S Realty A 1 conv deb g 5s.’24 J-J
50 60
50 59% 50 May’l 2
2d gold Inc 5 s ................ q200l)
U S Red A Refg ls t g 6s__ 1931 J-J
L 1 st g
.1931 J-J 100 ___ 9 9 % Apr 'll
1001 ? N ov'04
U S Rubber 10-yr coll tr 6 s.1918 J-D
W Min W A N W
F-A
Registered______________1918 J-D
o l A O C l _______
108% 109%
J-J 1081,1 10834 108 % J’ly '12
10734 10734 U S Steel Corp— (c o u p __ d 1963 M-N
Western Dlv 1st g 5s.
A-O 10 <%___ 1J7% J’ue '12
S I 10-60-yr 5s|reg___ dl9G3 M-N
103 104
J-D 1033, 101% 103*4
Va-Car Client 1st 10-yr 5s..1923 J-D
9134 93
A-O 90% 93 90 May’ 12
2d 20-year 5s________ 1 9 3 7 J-J
98% 991 West Electric 1st 5s Dee 1922 J-J
9.1%
99% 991- 991?
93% 9478 Westlnghousc E A M s f 5s. 1931 J-J
Tol P A W 1st gold 4 s........ 1917 J -J
94% 95% 9 4 % J’ne 12
10-year coll tr notes 5 s..1917 A -0
85% 87%
85% 85% 85% J'ly ’ 12
J-J
00 69%
61
A-O 01 613, 01
Telegraph & Telephone
F-A 68 75 731? May 12
71 73%
Tor Ham A Bull 1st g 4 s../il9 K J-D 89*4 . - 897s Apr ’ 12
89% 90% Am Telep & Tel coll tr 4 s..1929 J-J
Convertible
4s................... 1936 M-S
lster
A
Del
1st
con
g
5
s..192(1
J-D
105
___
105
j
'
l
y
'12
105
106
U 1st refund g 4s_______ 1952 A-O 85%___ 85i? J’ne’ 12
85% 80% Chicago Telephone 1st 5 s.. 1923 J-D
Union Paclllc— Gold *s___ 1 0 1 7 J-J 100% Sale 100 % 1 0 0 %
100 102I.J Commercial Cable 1st g 4S.2397 Q-J
Registered_____________ 2397 Q-J
Registered..................... 1947 J-J
99% 109% 997s J’ly '1 2
99% 1017s
Keystone Telephone 1st 5 s.1935 J-J
20-year conv 4s________ 1927 J-J 101% Sale 101% 101%
101 % 101
90 977s Metropol Tel A Te! 1st s f 5s 1918 M-N
1st A ref 4s___________ t/2008 M-S 97% Sale 97%
97%
9 17g
Ore Ry A Nav con g 4 s ..1946 J-D 94*2 9^ 947S
94% 96% Mich State Telep 1st 5s___ 1924 F-A
112%
112 11334 N Y A N J Telephone 5s g_1920 M-N
Ore Short Line 1st g Os.. 1922 F-A 112i,| Sale 112
110% 112 N Y Telep 1st A gen s f 4 Ms 1939 M-N
J-J 1 1 0 % 1101 . 110% 110%
933S 9534 Pac Tel A Tel 1st 5s............. 1937 J-J
94
1-1) 9 *i Sale 93*4
West Union col tr cur 5s__ 1938 J-J
J-J 105%___ 108 May’ ll
Fd and real est g 4 Ms__ 1950 M-N
J-J
Mut Un Tel gu ext os__ 1941 M-N
F-A 02 ___ 90%Mch’ 12
90% 90%
YTandalla cons g 4s Ser A .l
Northwest Tel gu 4 M- g-1934 J-J
94 97%
“
Consol 4s Series B___ 1
M-N 94 96% 94 J’ne 12
913.| OH)
J-J ............... 91*4 J’ne '1?
MISCELLANEOUS BONDS— Concluded
WceKs
range or
Last Sale
Low
10-%
High
10(%
190% 100%
90 J’n c’ 12
98% J’ne’ 12
83 Dec ’ 10
68%
(
66%
liOl-
70 J’ly ’ 12
68 J’ne’l
66% 70 J’ne’ 12
105% . . . 106% May’ 12
79 ___ 81i-> May’ ll
71-34
, 13
70 . . .
£0 80 8u% J’ly '12
81%
32%
31% Sale 31%
31%
32
134 J’ne’12
1
2% 23g J'nc'12
85 ___ 87**Oct 'll
07%___ 07% Mch ’ 12
89-6
£6 « Sale 86%
10/ Is 107" 107% 10(3
___ 87% 87% Apr '12
34 Feb '07
104% 106% 104% May' 12
101%101 102% Nov ’ ll
101 103 102 J’ne’ 10
80 83% 84 J’ne 12
9 8 % Feb ’ ll
___ 01% 92 J’ne'12
91%
91% 91% 91%
00% 91% 9034 J’n e’ lz
62 Sale 61%
61% Sale 01%
101%102
10 1*4
62
6 133
I0 I-3
08% 98% 0 8 )3
98%
----- 94% 95 J’nc'12
loO
100 Sale 100
79% 79-, 9
7934
104% Sale 104% 105
___ 100 i 100 J’ly '1 2
94 ___ 94 J’ly '12
120%___ 120% J’ly ’ 12
120 ) , J’no ’ 12
120% May’ 12
'jO ;
96% Sale 96
95*8 J’ncT2
95% May’ 12
■121 % 122 121"., 12-%
96*.
9834 Sale 9678
120% Sale 1203s 12078
98%
98% Sale 97
90%
00 99% 90
103%___ 104 J’ne'12
9 6*4
96% Sale 9 6 5 *
9534 Sale 95-%
16
95*4 J’ly ’ 12
57 N ov 'U7
957g___ 9673 J ’ne’ L
94 963g 95 j ’ly T2
___ 96% 96 J’ne 12
74%
74 Sale 74
88%
SS 88% 8S%
_____ 8 0 % 83% J’n e’12
159 Feb '12
99% 100 9978 100
90*4,
90% Sale 9038
100% Sale 100% 11)0%
103 10334 10334 1033.
90%
90 90% 90
923g
92 92% 62*s
961
96% 97 96%
80%
8 0 % Sale 78%
94
94 Sale 94
98%
98 96% 98%
98%
93-% 93% 93%
87 89% 89% J’ne’ l
997g Sale 99% 100
99
99 Sale 99
97*4 98 97% J’ly '1 2
103%___ 104 Apr '12
___ 92 92
92
___ 80 86
86
1021
102 Sale 102
___ 93% 94 May'12
94% J’ne’ 12
___ 94
100% 101% 101 J’ly ’ 12
90%
89% 90% 90
30
25 30 30
101% Sale 101% 1041
103% Jan '10
102% Sale 102% 1021)2 J’ly ’ L
*983*4 Sale 98% 99
101% Sale 101% 101*.
95
95 Sale 94%
96*4 98 97% J’ly '12
90*8 90% 90*3
114 115 114%
___ 102
90S;
1141
84 821? Mch'12
83% Nov '11
82 ___ 82 F eb '1 2
102% 103 102*4 J’ly '1
1J0I
100% Sale 100
103% May'll
993.
99% Sale 9 9 %
1 0 0 % Sale 100 %
100.
102
101% 1031 102
97% 9734 97%
9(3
104 J’ne 11
*94*
* 9 6 % J’ne’l.
82
65% 72%
643S 71
G4% 69*4
59% 70
60% 69%
106 107
‘ <58% *71%
72*4 83%
31% 39%
31% 42%
31% 41%
1
2%
178 3
97% 97)g
86% SS%
107% 108*4
87% 88%
104% 105%
82% 85%
91*4 93
91 93%
90*4 92%
52 67%
60% 62
101% 102*4
98 98%
94% 95%
98% 100*4
72% 82
102% 105%
100 101
92*8 95
llSTg 121%
1187s 121%
1187S 121%
9178 90*3 .
92'% 95%
917S 96 ,
11938 123%
91% 98*4
11834 123
8934 98%
88% 90%
103% 104
93% 102
9134 06%
91*4 95*4
95% 97 ,
94 96%
96 97%
71% 78%
847s 92%
82 84
153% 159
98% I0O7g
90% 92*4
100*8 101%
103 104*4
84% 917#
91*4 93%
94 97
77 82%
90% 94%
95 100
93 94%
89% 89%
99% 101%
97 101%
97 98%
102% 104
90*4 93%
86
88*4
94% 102%
94 94%
94 94%
1001, 102
87% 90%
30 50
103*4 105
I01*| 104%
101% 104
98% 101
101% 103%
93 95% ■
96% 98
90 91%
10834 116%
82% 82%
82 82
1023.| 103
100 101
*99*’ 100%
987g 100%
101 103%
97% 100%
95
96%
Miscellaneous
Coal & Iron
83% 88 82% J’ne'12
82% 8 8 %
98 Adams Ex coll tr g 4s------- 1948
07
2 97
Buff & Susq Iron s f 5s___ 1932 J-D 07 97*4 97
Armour & Co 1st real est 4 )$s '39
91*4 3. 91% 92%
91% Sale 91%
91 N ov’ll
Debenture 5s__________ ul92G M-S
89% ‘JO 90
13 88*4 92
90
l! 99 100** Bush Terminal 1st 4s--------- 1952
99
Col F & I Co gen s t g 5s___ 1943 F-A *99 * Safe 99
----- -)67f, 97*s J’ly '1 2 . . . . 97 99
Consol 5s_______________1955
107% 107*4
Col Fuel gen 6s___
. 1 9 1 9 M-N 100*4 108% 107% J’ne’12
116 150
130 ___ 130
130
Col Indus 1st & coll 5s g u .. 193 1 F-A 80% £0*4 81*4 J’ly '12
72% 82 Chino Copper 1st conv 6s. .1921
Irrigation Wks & D of A 4 Hs '43
93% Nov 11
___ 95
Cons Ind Coal Me 1st 6 s...1935 J-D ___ 84% 85 J’n c 'll
Insplr Cons Cop 1st Gs irectsi. .
106*4 107 105% 1J.% 24i. 104% 107%
Cons Coal of Md 1st A ref 5s 1950 J-D 93% 937* 01 D e c 'll ____
03 70
Int Mercan Marine 4 'As — 1922
61 63 G1*4 J’ly '1 2
Gr RIv Coal & C 1st g 6s../il919 A-O 94 ___ 102% Apr ’00
79 " i s 78 82%
79 79% 79
Kan & H C & C 1st s f g 5 s.1951 J-J
97*4 98% lnt Navigation 1st s f 5 s...1929
97*4 99 98 J’ne’12
89 A p r '11
Pocah Con Collier 1st s f 5 s.1957 J-J ___ 88% 87
87% 16 81% 891 Mge Bond (N Y) ser 2 - 4 s ...1966
897*
89% 897*
89% 1)0 897S
St L Rock Mt & P 1st 5 s ... 1955 J-J
83*4 40 79*4 84% Morris & Co 1st s 1 4 44 s___ 1939
83% Sale 83%
84 8 6 %
82% 83% 85 A p r'12
Tenn Coal gen 5s.......... — 1951 J -J 1 0 2 % 103 102% 103
13 102% 103% N Y Dock 50-yr 1st g 4 s...1951
100%10178
100% . . . 1017g J’n e’12
Blrm Dlv 1st consol 6 s..1917 J-J 103*4 105 104 J’l y ’ 12
103% Kill. Nlag Falls Pow 1st 5s-------1932
Refunding A gen 6s----- al932
103 104
Tenn Dlv 1st g Os.......... al917 A-O 101%104 10338 J’ly '12 —
92% 93
Ontario Transmission 5s— 1945
92% 93 92% J’ne '1 2
Cah C M Co 1st gu g 6 s . .1922 J-D 103%___ 110 Jan '09
93?8 41 92% 94%
Pub Serv Corp N J gen 5 s..1959
1)3% Sale 93%
Utah Fuel 1st g 5s------------ 1031 M-S
1 112 130
Ray ConsCoppcr lstconv6s 1921
80 80
125 ___ 12478 1247*
85 86 May’12
Victor Fuel 1st s f 5s---------1953 J-J
1027* 104
102 ___ 104 May’12 —
95% 95).t
1)5%
i 95 98% Wash Water Pow 1st 5s — 1939
Va Iron Coal & Coke lstg 5sl049 M-S
•No price Friday; latest bid and asked aDueJan dDue April sDuoMay ffDuoJune hDueJuly JtDueAug oDue OctclDueNov «Due Dec sOptton sale
CHICAGO STOG C EXCHANGE!—Stock Record—Daily, Weekly and Yearly
STOCKS— HIGHEST A N D
Saturday
July 13.
♦30
♦89
♦SO
25
*7^2
3^2
♦1634
♦36
*9%
♦49
Monday
July 15.
*30
*89
00
85
251f 25
*7%
31
*3%
181 *1834
40
*36
1014
*9%
50
*49
34
92
357s
11734
♦400
♦130
*48%
36%
117^4
___
138
50
♦100
102
*14412 145
60% 62
34
92
896
25%
814
18%'
40
10%
50
36% 363.
117% 117%
*400 ___
*130 138
*48% 50
*100
102
♦144% 145
*60
62
Tuesday
July 15.
*30
*89
*80
24%
7%
*3%
*1034
*36
10
*45
3 6 I4
117
•40!)
•130
*46
102
LOWEST SALE
Wednesday
July 17.
34
*30
92
*89
90
*86
245, 24%
7% *7%
4
*3%
18%
40
10
50
TRICES
Thursday
July 18.
34
Last
92
Last
90 *86
241- 24%
8%
*7%
4
*3%
18
Last
Junc’ 12
July’ 12
8034 03%
24% 25
25%
8i2 *7% 8 %
4
*3% 4
Sale 18l2 J’nc'12
Last Sale 10i2 J’ne’ 12
10
10
10
*45
50
Salt
Sale
10
Last Sale 50
102
102
102
*101
102 *101
102
12
11
11
11
11
*10
11
*10
11
*10
11
Am Tel & Tel coll 4s.
Armour & Co 4 H s..
Auto Elec 1st M 6s..
Inter
est
period
Price
Friday,
July 19.
bid.
Week's
Range or
Last Sale.
Ask Low.
Loir.si
Highest.
0
35 Jan 5t
32
Mch 19
Highest.
32 Deo
04 Nov
101 Aug
3778 Dec
12i2 Aug
7l2 Aug
25 Feb
72% Feb
1314 F’ ch
50 Jan
0 11% Jan 2 43 May 11
) 91 Feb 1 121 Mayll
0 325 Feb 1 405 J’ly 2
) 131 Jan In 135 Apr 30
60
3 47 Mch 1
50 Apr 11
50 Do pref...........
10
luo Feb 1 I0 4 I4 J’n c 2 u
25 Amer Telep & T e le g .I ..
139 Jan 11 148% Men 17
126 "ooth Fisheries com _
JO Mch 14 6 6 % Mayz;
Voting trust c t f .. .
43% Feb c 50 Jan 0
Do 1st p r e f..
77 Moll 14 05 J’no 5
1 40 Feb u 05% Mayl.j
44 Meh 16 53i; May 3
1 13712 Jan 4 145 Mch 0
184 Jan 4 2 2 2 J’ne.'o
135% jail 4 150 Mch 7
10 Feb 13 171r Apr 2t.
do
pref.
151
105 J’ly . 11134 Feb 6
385 Hart Shaflner & Marx pr
00 J'l y l. 1021; Mch t
502
56 Jan
ooio May27
1,175
lOo Feb 14 I2 4 I4 May2u
437
07 May 1 71 Mays 1
945
143% Jan lfi l.il Apr Jo
Do pref.
126 Jan 1.. 13084 May28
25
103 Meh 0 l 2 0 i8 May;u
35 Do pref__________ 10(
115 Feb It, 120 Jan 2
1,162 Pi.cltlc Gas & El Co____ 1 til J’ ly 0 z 6/ Apr 22
Do
righ ts_______ c .0 » May 3 z .65 Apr 23
Do
preferred____
740
I03i, Jail _ lie .Vlayzo
143 Pub Scrvof No 111 com I 81 May., z 041; Apr 2 I
Do r ig h ts_________ £.08 iMayl r ll2 Apr 24
200 Do preferred_______ ZlOO Mayjl z 107i2 ADr 24
20 Rumely Co, preferred___ x 99' •_Apr 2 . z 102 May o
3,403 Sears-Hoebuck c o m .. 1 0 0 140 Jan o 1j4 Ma.v22
68 Do pref................... 1 0 0 121i2 Jan II 12584 J’no &
777 Swift & Co................... 1 0 0 0334 Jan 2 I 0 .1 I4 Apr 4
The Quaker Oats C o .. 100 215 Jan 15 291 J’ne lo
6 Do pref__________ 1 0 0 105i2 Jan
110 Jao lo
273 Union Carbide Co_______ z 13534 May 8; £168 J’nelo
Do
righ ts________
31., May t
6 May22
38 Unit Box Bd & P Co. 100
38 May
178 Jan 18
1,600 United States Steel com.
58% Feb 13 7234 Apr 26
35 Western Stohc______ 1 0 0
10 Jan 17 14'j, Feb 7
9 Jan
7678 Jan
265 Jan
126l2 Mch
48 Nov
100 % Sep
131% Aug
35 Apr
38 J'ne
60 Sep
401; Apr
301; Sep
116 Jan
1511; Jan
113 Jan
03.| Oct
78 Jan
9212 Feb
100
Sep
407g Sep
99% Sep
12i2 May
03 Dec
04 Occ
33 Nov
70 Feb
May
162% j'n e
5914 Mch
573,( Mch
8S3S Dec
52 Feb
65i2 F’eb
141% Nov
180 Deo
13/38 J’ly
15% J’no
78 Jan
1103,| Nov
1033i Dec
70 Jan
120 May
117% Jan
123 Jan
100
Aug
117 Sep
142i2 Dec
130 Mch
120 Mch
120 Mch
101 Sep
108% Jan
12384 Sep
116 Sep
o734 Sep
165 Mch
10212 Feb
19234 Jan
122 Mch
101 J’no
212 Dee
107% J’ly
1 Dec
601; Oct
1J Dec
7 Jan
8178 Feb
25 Jan
100
1,050
400
Range
lor
Year 1912
Higl No. Isno.
l-o est.
85 J’ly 1
241 2 J’ne 2
6 J’ne 1
3i2 J’ ly
181; Mav2
40i2 J’no I
High
9J - J
91 Apr’ 12
£91
91
9134 31 91% 92%
J J - D f----- 02% 91%
8 ........ ----- ----82% Apr’ 12
£82% 821.,
7 M - i\
96% May’ 12
£96% 96%
7 F - A 102% Sale 102% 1021.
L 10134 103
88% 3e 88
7 A - O t 83% Sale 88%
01%
98 july’ 12
1 J - . ___ ___
97.% 99
1 J - J t 91 03% 92 June’ 12
90
95
7 F - A tl00% Sale 100% 100% 38 9978 101%
’ A - < f----- 06
96 June’ ll.
98
97
’A - O
96% Jail'll
984, 9738
O -1 U ..O V I to o
u ’ J - D t S7
87% 87%
87%
J 86% 91%
Chlo Rys 4s..scries “ C i* - A t 04
9434 94 June’ 12
9334 95%
3 F - A ___ ___ 100 Jan’ 12 __
100 100
7 J - J t 72% 731.
74% June'12
73% 85
7 Mayl t 45 Sale
45
45
5 45
60
J J - I) 101% Sale 101
101% 51 10078 103%
90% May’ 12 ___
J - J t ___ 00
9738 99%
1 M - S 103% Sale
103% 103% 3i 102% 1033,
1 M - S {102 ___ 102% July'12 __
102% 10334
M - N {100% Sale 100% 100%
1 9978 100%
J ____ 109 Sale 107% 100
12 107 110%
A - O . . . . ___
90% Apr’ 12
£99% 99%
M - N ................ 101% May’ 12 — £101% 101%
Do
1st g 6s___ 1 0 2
Int Har 3-yr 5% g notes ’ 1 f ' - ' a {ioo% 100*14 100% May’ 12
£100% 100%
Ini’ ll St’ l Is. M g 6 s .. 192 - - - - - ................ 105% Apr’ 12
£105% 105%
Kan City Ry & Eight
__
_
___
M- N
91% Apr’ 12
94% 04%
J - .1 t 88 Sale
88
88
i 87% 90
F - A { ----- 82% 82% July’ 12 ___
82% 85%
«/ “ J f___ 82
82
82
7
82 83
F - A ----- ----- 10478 Apr’ 12
£l0478 10478
do
•/ - J ................
05 Apr'12 —
£95 05
do
J - D
M - N __- ___
00% May'12 ___ £89% 00%
J - .1 ( ___ 8934 89'% July’ 12 ___
89% 90%
VI - N ___ ___ 100% May’ 12 __ £100% 101%
A - O {102% . . . . 103% Apr’ 12 ___ £103% 1031.t
do 1st & r
A - O ;ioo% 1 0 0 % 100% Apr’ 12
£100% 100-%
Nor Sh Gas o.
F - A ___ ___
97% Apr’ 12 ___ £97% 97%
At - b __ - - __ 100% July’ 12
100% 100%
Q -M f 9 9 % ----- 100 June’ 12
99-% 100
Ogden Gas 5s.................... .. VI - N { 98 98% 08
08
2
95% 99
Pas Gas & El ref g 5s. 1942 J - J __ - ___
92 May’ 12
£91% 92%
PacT& T 1st coll tr 5s.
J - J ___ ___ 100 May’ 12
£100 100%
Pearsons-Taft 5s____
J - 1) 98% ----- 100% Mch’00 ___
4.40s ......................
A! - S 95 ___
96% Mch’ 10
4.60s Series E_____
M - N 96 ___
07 Feh’ 10
4.80s Series F_
M - N 9 7 % ___
98% Nov’ 11
Peop Gas L & C 1st 0sIIa43 A - O __ - ___ 116 May’ 12
III, 118%
Refunding gold 5 s..1947 M - S {101% 101% 1017% 10
3
101% 102%
Chic Gas L&C 1st 5s 1937 J - .1
10234 1U234
5 10234 1033;
Consum Gas 1st 5 s.1036 J - I) t----- 1031; 102% May’ 12
102% 103
Mut’ l Fuel Gas Ist5sl947 M - N (100% ----- 101.% June’ 12 ___ 101% lOUPub Serv Co 1st ref g 5s '50 - - - - - t----- 98% 03% Junc’ 12 ___ £96-% 100
Sou Bell T & T 1st sf 5s ’41 J ™J __ _ ___ 100% May’ 12 ___ £100 100%
South Side Elev 4 Hs.1024 J" " J 94 Sale 04
4
91
91 90%
Swift & Co 1st g 5 s.. 1 9 1 4 J - J {100% ___ 10014
1 100% 1003.,
100%
Tri-City Ry & Lt coll
trust lien s f 5s_____1923 A - O ___ ___
08% Apr’ 12
£98
98%
Union Elco (Loop) 5s. 1 9 4 5 A - O :—
si
85 Apr’ 12
85
89
U S Gypsum 1st g 5 s..1922 At - S ----- ----- 100
May’ 12 ___ £9'J78 100
U S Steel 10-80-yr s f g 5s
- - - - - ----- ----- 102% Apr’ 12
Cl02% 1023o
Western Eleo Co 5s__ 1922 J - J :-----102%
__
IODo 103
101% July’ 12
Note — Accrued Interest
must bo added t all Chicago bon d prices.
00 May2
AlchJ
Miscd’ancous
Do pref.
C h ic a g o
b'ds
Sold
Range lor 1’ revious
Year 1911
Railroads
Chicago Elev Rys com__
Do pref_____________
362 Chic Rys part ctl ’’•1” . . .
486 Chic Rys part ctf “ 2 " __
5 Chic Rys part ctf “ 3” __
12 Chic Rys part ctf *’4’ ’ . .
Kansas City Ry & Lt.100
Do pref...................
100
y fr n n lo
1. 1. / 1■ ,
(Jhicago tfond Kecord
BONDS
CHICAGO STOCK
EXCHANGE
Week ending July 10.
Range lor Year 1912
21 J’ly
85 J’ly
80 Apr
203.1 May
8 May
4l2 Mch
15 Sep
39 Sep
7 Dec
38 Nov
July’ 12
36?* 36% 37
3612 3634 37 37
117
117 117 *117 118
11712 11712
___ *100
Last Salt 105 July-12
138 <130 138
Last Sale 135 Apr’ 12
50
*46
50
*10 50
48 48
STOCKS
CHICAGO STOCK
EXCHANGE
40 Apr 24
9334 Jan 20
104% Jan 18
38 Jan 0
11 Jan U
578 Jan 1.3
21 May 1
60i2Jan 19
U's Apr lo
52 J’no 20
8!)
145 145 *145 1451- •115 146 *145 146
60% 60% *0 0 % 61% *0012 61% *6012 6 U2
Last Salt 17 Apr’ 12
*00
0 2 ~ *90
92~ *90
*90
92 ‘
02
Last Sale J2% July’ 12
*58
63
*58
63
*58
63 *58
03
Last Salt 02 June’ 12
50% 51
*49% 50% *40% 50% *49% 51
*49% 51
*4912 51
Last Sail 142 May’ 12
*210 213 * 2 1 0 213 *210 2 1 2
212
212
•212 213
2101 S 21018
*1301n 140
13734 13734 140 140 *138 140
138 140 •138 140
*14% 15
1434 143; *14% 15 *14
*14% 15
15
*14
15
Last Sale 78
Jan’ 11
*104% 105
104% 1041- 105 106
106 106 ,*10512 107 T05% 107
99% 90% 99% 99% 0 0 % 90% 90
90% *34 36
9912 100
*3334 64
04
64
633., 64% *64
65
64
64% 6412 65
119 119
11<J78 121% 120 120
118 119
70
70
70
70
70
70
*08 75
*68
75
151 151
147 117
140% 147% *145 147
146% 1471.J 145% 14012
*120% 131 *129% 131 *129 1.31 *120 131
Last Sale 12912 Jly’12
*-----117
*___ 117 *___ 117 *__ 118
117 117
*118 11934 *118 119% 118 118 *115% 110% •118 11<J 118" 119
61% 61% *60% 61% *0 0 % 61% 62
66
6534 6 6 I4
■Last Salt 60 "May" 12
92% *0 0
*90
0 2 % *90
921; *90
021 . *00
021; *00 0212
*11534 116% 118% 116% 110% 1163, 115% 116% 1161s H 6 I4
90
00
01
91
*89
92
91% 0 1 % 02 02
Last Sale 5
May’ 12
102% 1027(, 1 0 2 % 1 0 2 % 102 % 10234 103 103
10234 10234 10212 10258
*101 103
*101
102
101
101
*1 0 ! 102
101 103
101 103
180% 180% 189-% 190
189% 190
180 % 100
180l2 100
190 102
♦1221,1 124
123% 124
123% 123% *122% 124 *122% 124
12312 12312
10434 105% 105% 105% 105% 105% 1051s 10512 10538 10538
1043i 105
*282% 285 *282% 285 *282% 285 *282% 285
Last Salt 282%Julj’ 12
*108%. 100
108% 108% 10S% 108% *108% 100
10812 100
10812 109
162 165
105 166 *164% 107
163 168
104 167 *164 167
Last Salt
2 May’ 12
1%
1%
* 1% 138 *1% 13S
1%
1%
*l's
1%
*1% 138
68
68
68% 68%
69
69% 6 8 % 70
70 70i2 7014 71
*10
Sales
of the
Week
Shares
Friday
July 19.
bam es
NAME
ana
Outstand
ing
Stock.
(t>
T r u st,
Surplus
and
Profits.
(t)
C o m p a n ie s
Dividend. Record.
In
1910.
In
Per
1911. iod.
Last raid ,
%
American S ta te___
Calumet National__ ___
Cont’ tal & Comm N at..
Corn Exchange National
Douglas State________
Drexel State--------------Drovers’ Dep National.
Englewood State______
First National_________
First Nat Englewood__
Foreman Bros B’k’g Co.
Fort Dearborn National
Hibernian Banking Assn
Kaspar State Bank___
Lake View State______
La Salle St National__
Live Stock Exch’ge Nat
Nat Bank of Republic..
National City_________
National P roduce____
North Avenue State__
North Side State Sav’gs
North West S ta te____
People’s Stk Yds State.
w Prairie State________
Second Security_______
Security______________
South Chicago Savings.
South Side State______
State Bank of Chicago..
Stock Yards Savings__
Union Bank of Chicago.
Washington Park N a t..
VVendell State_________
w Central Tr Co of III..
/.Chic City Bk & Tr Co.
Chicago Sav Bank & Tr
Chicago Title & T rust..
Citizens Trust & Savings
Colonial Trust & Savings
Cont & Comm Tr & Sav
Drovers Trust A Sav__
First Trust & Savings..
Ft Dearborn Tr&SavBk
Fran kiln Tr A Sav Bank
GreenebaumSonsBk ATr
Guarantee Trust A Sav.
Harris Trust A Savings.
Home Bank A Trust__
Illinois Trust A Savings
Kenwood Trust A Sav.
*200,000 *193,131
Jne30’12 1H
55,4«l
100.001
6
6
An Jail ’l l , 0
21.500,OOl 9,191,14.
10 Q-J Inly '12, 2H
3,000,001 5,974,291
16
16 Q-l Ally T2, 4
200.001
2.445 deg. 1 us Maj il ’ l,V.92,pl638
200,000
69,013
8
0
Q-J Ally T2, 1H
600.001
472,96;
10
10 Q-J Ally '12, 2H
200.00u
58,681
0
OH Q-J Apr '12, 2
10.000,001 11,744,40
12
12
Q-M July’ 12 114v
150,000
2 1 1 ,8 0 6
10
12 Q-M 'ICU31T2 2H
l,00O,U0u
564,772
ITU ate B: ak
2,000,OUt
Go‘J,78fc
8
8 Q-J July T2, 2
1.500.0011 1,468,19; 8+ 2
(IT) Q-J
ill)
400 000
154,312 10+15 10
J-J July'12, 5
200.000
£20.78- •leg. b us Apr 3*11 V.92,p. 1001
1,000,000
271,88. .leg b us. Mn y TO '/ .00,p. 1277
1,250.001
547,088 10
10 Q-M Jne29T2,2H
2.000,000 1,370,5%
8
8 Q-J July ’ 12, 2
2,000.000
603,772
6
0 Q-J July’12, 1H
250,001,
100,465
4
0 Q-J July’ 12, 1H
200.000
80,397
7 Q-J July T2, 1*4
OH
42,379
50.00U
6
0 Q-J July T2, IH
38,960
200.000
4
5 Q-J July’ 12, 1H
143,586
300.000
7
OH Q-J Jail. T2, 2H
500,000
£53,023
0
0 Q-M Apr T2, 1H
3.OCC Beg. 1; us Nov 1’ ll V.93.P. 1235
200.000
400.000
153,408
4M sG Q-J July T2, 1H
200.000
107,000
8 Q-J July’12, 2
7H
200,00u
22,242
6
0 Q-J July’ 12, 1H
1,500,000 2,270,812 12
12 Q-J July T2, 3
250.000
217,010
8
8 Q-M Jnc30’ 12,2
600,000
140,642
0
0 .VI-N May T2, 3
100,OOU
12,170
0
6 Q-J July’ 12,
50,000
41,610 None None Q-M Dec3l’08,1H
4.500.000 1,895,693
7H
8 Q-J July T2, 2
500.000
356,896 10
J-J July T2, 5
10
1,000.000
263,112
0
6 Q-J July’ 12 1H
/5.000.0UO 12,031,511
8 Q-J July T2, 2
7H
50,000
£16,326
6
10 Q-J July’ 12, 3
600.000
481,625 8+ 2 8+ 2 Q-J July T2, 2H
3,000,000 1,375,874
200,000
170,830
8
SH Q-J July T2, 2H
5,000.000 1,804,597 12
10 Q-M Dec 30 ’l l . 4
250,000
14,850 Beg. b us Apr i ’ ll V. 92, p .929
200.000
52,340 Beg. b us Apr 3T 2 V.94. p. 1030
1,500,000
190,835
2H Q-J July’ 12, 2H
J- J July ’ 12,3
200.000
39,539
12 Q-J Ally ’ 12, 3
1,500,000 2,112,817 11+ 5
300,000
64,869 Beg b us Apr 10’ 1 lV.92,pl()04
5,000,000 9,404,110 10+ 4 10-1-4
V July’ 12, 4
7 Q-J July ’ 12.1H
78,818 7+1%
200.000
60,828
0 Q-J !ne30T2,l%
200.000
5H
12
15
3,000,000 6,573,010
Q-J July’ 12, 4
.Michigan Ave Trust Co.
64,911 Beg. 1) 18 OCI 29 T IV .91,1)1221
200,000
64,644 Com b IS Apr 10'1 IV. 92,P1004
500,000
8 Q-J Jue20’12,2
8
1,500,000 2,090,757
8
124,602
0
J-J Inn ‘ 12,4
250.000
50,000 Beg. b us J'ne l ’ ll V.92.P. 1537
200,000
181,626 ___
___ Q-J Ally T2, 2
500,000
8
8 Q-J July ’ 12,2
300,0UU 286.87 2
___ Q-J July’ 12, 1H
40,180 ___
200.000
1,000,000
355,831 Join111 mceil >us. Sept 6 1910
200,000
0
49,796
6H
J-J Ally T2, 3
1,200.001 1,430,542 t8 + v! 8 + 2 J-M Jn029’12, 2
0
400.000
85,966
8+ 2 1-M Jnc30’l2, 2
200.000
97,048
7>$
OH Q-J July T2, 2H
prIct?FrIdayMMOTtPprlco t W s ' w e e k ' H t° I ' m ? “ i f b l v w S n o f f i l S h * 81^
(opening of business) for State Institutions. t No
CDuo Feb. d Due Jan. 1. k Also 20%Ih otock « DlTllnria nro
OT
**t°ckaU 2C
^Vlr^ y the.°?,"t,- * Comm- Nat. Bank a Duo Dec. 31. b>Due June.
provide
for the
the new
new Second
Second Rnonriti,
•,,.h
Q-b.
.? a dividend
50% paid
paid in
in 1911
1911 on
on Security
Security Bank
Bank stock,
sti
on ..
n ion.-.
rein / lin e on
an m
u. cxtfa
...... 7 r payments
r j,— y
v
e
, of 50%
to
provide capital
capital for
Security Bank v m
Central Trust Cojaeo
Co.: r V.
” 94. p. i----^ntratTrust
m . —
April 18 u Form^Chicag^City Bank?
® 1,rnl.rie State Bank to bo merged into the
V Increase In capital to 55,600,000 to be voted on July
29: V. 94, p, 1739 z April 19 1912
THE CHRONICLE
J u l y 20 1912 ]
Volume of Business at Stock Exchanges
TRANSACTIONS AT THE NEW YORK STOCK EXCHANGE
DAILY. WEEKLY AND YEARLY.
Stocks
Week ending
July 1!) 1912.
Saturday_____ . ___
Monday___________
Tuesday....... - ..........
Wednesday________
Thursday__________
Friday-----.-----------Total....................
Sales at
Nsw York Slock
Exchange.
Hatiroad,
Par Value.
S/tares.
167,933 816,381,800
196,801 18.055.400
212,311 22,087,700
292,359 26.898.400
244,298 21,810,40.)
300,949 27,648,050
utc..
Slats
Bonds.
Hands
V. S.
Bonds.
81,338,000
2,436,000
2,339,500
2,090,500
1,763,000
1,917,500
$14,500
129,000
40,000
42,000
39,500
55,500
$1,000
1,444,684 3131,882,353 $11,937,500
$320,500
$21,000
Jan. 1 to July 19.
Week ending July 19.
1912.
20,000
1911.
1912
1911.
57,901,925
Stocks—No. shares__
74,621,008
1,441,684
1,361,663
Par value........... . $131,882,350 $129,001,80u S6,748,615,025 $5,161,900,000
$1,266,100
Bank shares, par.......
$340,000
$1,900
$900
Bonds.
$1,721,500
Government bonds__
$1,009,000
$21,000
$21,000
75,488,500
14,401,000
State bonds...............
320,500
2,224,500
433,256,500
RR. and misc. bonds. 11,037,500 18,561,500 - 427,835,500
$510,466,500
$443,245,500
Total bonds______ $12,279,000 $20,807,000
DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
EXCHANGES.
Boston.
Week ending
July 19 1912.
Listed
s/tares.
Unlisted
tftares
Philadelphia.
Hond
sates
Listed
shares.
Untlsted
shares
Bond
sates.
Saturday__________
Monday__ ________
Tuesday__________
Wednesday..............
Thursday_________
Friday....................
6,062
7,223
10,431
12,340
14,294
15,082
3,571
7,587
13,20/
18,695
13,936
23,194
$16,000
24.500
16,000
30.500
37.000
15.000
1,501
7,91h
15,008
6,050
7,685
16,127
1,590
2,955
3,458
7,079
5,511
4,131
$15,100
62,000
89.000
98.000
40.884
86,000
Total ..................
66,032
80,250
$139,000
54,955
24,754
$388,184
Inactive and Unlisted Securities
All bond prices are now "and Interest" except where marked
Bid
Street Railways—(Con,)
Bid Ask United Rys ol St L—
Street Railways
15
C0..1 vot tr ctfs__ ...100
« Preferred...............100 45
New York City
25 Wash Ry & El Co......... 100 91
Blecek St & Ful Fy stk.100 2 0
94
70
Preferred.................. 100
4s 1961....................J-D 8534
170 185
2d mtge 5s 1914....... J&J OUlj IUOI4 Electric, Has & Power Cos
1st 5s 1924.............. J&J 103
6
Cent Crosstown stock.. 100
103
Cen Pk N & E Rlv stock. 100 10
Cbristopher&lOth St stk lOu 132
104
10
100
New York City
Cent Un Ga3 5s 1927___ J-J
1 0 2 l2
Ask
15i4
4512
9134
94*2
857fj
104
e Kings Co El L & P Co.. 100 13112 133
!
23
23
a
■5
New Amsterdam Gas—
15
1st consol 5s 1948___ J-J 1 0 U2
!2
10 ?ai
2
14J N Y & E R Gas 1st 5s'44 J-J 10414 iH
Consol 5s 1945______J-J 101 103
1st gold 5s 1932......... J-D 100 I0 1 f2 (N Y Mutual Gas L-----100 *170 190
00
48 N Y & Q El L & Pow Co. 100 55
) 42
Preferred .................. 100 76 85
Eighth Avenue stock...lOo 315
/ 99 101 N Y & Richmond Cas...l00 48 60
42d & Gr St Fy stock__ 100 2 0 0 JU0 North’n Un 1st os 1927 M-N 100 102
Standard Gas L com___ 100 60 __ _
42d St M & St N Ave. . _ 1 0 0
90 100
1st 63 1'JlU...........
/ yy
2nd Inc Os Jan 1 1915___ / 78
1st 6 s 1930.............. M-N 10412 100
Ninth Avenue stock___ 100 160 ISO
other cities.
Second Avenue stock...100
2
Am Gas & Elec com....... 60 ♦78 82
Consol 6 s 1918 ctls..F-A / 42 45
Preferred.... ............... 60 *4612 48
« Sixth Avenue stock... 100 124 126 Am Lt & Trac com____ 100 *380 383
Sou Boulev 6 s 1945____ J-j 83
Preferred .................. 100 *10712 109
8 0 For 1st 5s 1919........A-O
90 95 Amer Power & Lt com.. 100 7H2 7212
Tarry VVP & M 5s ’28..M&S / 75 80
Preferred.................. 100 84 85
28 & 29th Sts 53 '9b ctls A-O / 22 28 Bay State Gas................ 50
♦3g ho
Twenty-third St stock..loo 250 U 5 Blngh’ton (N Y) Gas VVk
Union Ry 1st 5s 1942..F-A 103 100
1st g 5s 1938.............A-O 9812 101
412
Westchester 1st 6 s '43.J-J 93 96 Buffalo City Gas stock..100
3
Yonkere St RR 5s 1940. A-O 90 95 Cities Service Co com__ 100 112 113
Preferred .................. 100 8812 9012
Brooklyn
Atlan Ave RR con 5s '31A-0 102 103 Con Gas of N J 5s 1930..J-J 97 LOO
B B & W E 63 1933___ A-O 97 100 Consumers' L U & Pow—
ltiit
63
lyJ8
. .J-D 100
Ultlyn Hgts 1st 5s 1941. A-O 99 102 Consumers Power (Minn.)—
Uklyn Queens Co & Sub—
lst&ref 5s lU20op'14.M-N 90 92
t 1st g 5s 'l l oplOlb.J-.
99 101 Denver G & El 6 s 1949.M-N 951; 9012
e 1st con 5s '41 op 'lo M-N
97 9.1 Elizabeth Gas Lt Co___ 100 300 ___
Coney 1st & Bklyn....... lou 10JL 105 Essex & Hudson Gas__ 10U 111 113
1st cons g 4s 1948___ J-j 80 8 7 Gas & El Bergen Co___ 100 87
8812
Con g 4s 1055.............j-j
77 82 e Gr Rap G L 1st 5s '15.F-A 99
Brk C * N 6 s 1939...J-J 99 101 Gr't West Pow 5s 1946..J-J 873.; 8814
Nassau Eico pref........... lou
139 111
1st 53 1944...............A-O 1021; 1031;
105
N Wmsburg & 1<latbush—
Indiana Lighting Co___ 100 40 45
1st 4Hs Juiy 1941._F&A 92
71 73
Steinway 1st 6 s 1922..,J-J 102 104 Indianapolis Gas_______ 50 38 43
Other CUle:
1st g 6 s 1962.............A-O 83 88
Buffalo Street Ry—
Jackson Gas 5s g 1937..A-O 99 102
1st consol 5s 1931___ F-A 105 1051- (Laclede Gas preferred._10( 90 100
Deb (is 1917.............A-O 104 li)514 •ludtson Gas 6 s 1926...A-O 104 109
(Conn lty & Ltg com.,10o 70 81 .sarragan (Prov) E*l Co .50 *J6 l; 99
80 82 Newark Gas 6 s Apr'44.Q-J 125 126>2
e Preferred.... ............10u
Federal Light & Trac.. 100 34 37 -Newark Consol Gas..__ 100 98 100
(Con g 5s 1918....... J-D 1053g ......
Preferred.................. lu>/ 8 U; 83
( Havana Elec Ry L&P loo 80 ___ No Hud L H & P 5s 1938 A-O 100
90 90 Paclilc Gas & E com___ 100 6512 60
e Preferred................ loo
Preferred______
iou 0134 U212
( Loulsv St 5s 1930....... J-J 10614 1051;
e New Orl Rys & Lt com 100 30 45 Pat & Pas Gas & Elec...lot) 92 9312
( Con g 6 s 1949....... At-S 1021;
761; 78
St Joseph Gas 5s 1937...J-J 90 94
«N Y Westch & Host Ry—
2334
1st g 4H3 1946...........J-J 100 lOOl.i .Standard Gas & Elec(Del) .60 *23
Preferred....................5o *50
51
* Pub Serv Corp 01 N J— see Stk E x list
Tr ctfs 2% to 0% perpet 10J3j 110l4 cConv s I g 6 s 1920 op J-D 10.) 10012
North Jersey St Ry..lUU 75 90 United Electric of N J . . 1U0 90 95
1st g -1s 1940.............J-D 8212 8312
1st 4s 1948........... M-N 82 83
75 76 Western Power com___ 100
Cons Tract ot N J___ 100
3312 35
Preferred.................. 100 60 05
1st 6 s 1933.
J-D 101 105
Now’k Pass Ry 6 s ’30 J-J 107D IU8 Western States Gas&Elec—
Rapid Tran St lty .. .10u 235
1st & ret g 5s 1941 op.J-D 92l2 95
1st 6 s 1921...
a 0
telegraph and Iclcphone
103
J C Hob & Paterson—
e Amer Teleg & Cable__100
65 71
4s g 1949.............M-N 801; 8U- ; Central & South Amer.lOU 112 119
So J Gas El & T rac... 100 130 113 ‘ Conun'l Un Tel(N Y)__ 25 108 115
Gil g 5s 1953....... M s 991; 100 Empire & Bay State Tel. 100 05 75
No Hud Co Ry 6 s 1914 j-j 10212 1023.J Franklin ......................100 40 50
Con M 5s 1928....... J-j 1031e Gold & Stock Teleg...100 120 124
Ext 6s 1924......... M-N 99 i j f 3 Northwestern Teleg___ 5t; 115 125
Pat Ry con 6 s 1931..J-D 114
Pacltlc & Atlantic...........26 70 75
2d 63 1914 opt___ A-O 100 102 e PacTcicp & Teleg prel. 100 98 100
Repubtlo Ry & Light. . .1 0 0
281; 30 Southern & Atlantic....... 25 92 97
Preferred..................I0(
81
83
Trent P & H 6 s 1943...J-D 97 100
1st g 5s 1541 op 1910.J-J 103 IOOI4 '
* Per share, b Bam e Sens oa Stock Ecc.iai; g see
(Includes all new stook dividends and subscriptions.
16 7
Bid Ask Indust and Miscell— (Con.) Bid
Ferry Companies
80 |
B & N Y 1st bs 1911___ J-J 100 105 Bliss (E W) Co com____ 60 70
Preferred....................50 120 125
N Y & E R Ferry stock.10U
8 15
1st 5s 1922............... M-N 45 65 Bond & Mtge-Guar____ 109 -290 . . . .
N Y & Hob 5s May '40. .J-D 98l2 9J12 Borden's Cond Milk com. 100 127 128
Hob Fy 1st 5sl946..M-N 1041; . . .
Preferred.................. 100 1071 108
N Y & N J 5s 1940___ J-J 98 iJu* British C01 Copper Co___ -> *C«8 65«
2
in
10th & 23d Sts Ferry__ luu 26 36 Casein Co ol Amer com__10o
52
70
50
1st mtge 5s 1919....... J D 63
Preferred .................. loo
27 Casualty Co of America. 109 110 120
Union Ferry stock____ 100 23
1st 5s 192J............... M-N 90 99 Cenuioid Co___ ______ 105 141 143
51
53
City Investing Co_____ 100
Preferred ................ ion 100 101
Short-Term Notes
Amal Copper 5s 1913..A-O 10012 I003.| 4 Ciaftm (H B) Co com..lou 90 95
86
90
e 1st preferred........... lOu
Balt & Ohio 4Hs 1913.J-D 100 1OOI4
81) 90
e 2d preferred.............lu>
Bethleh Steel 0s 1914 M-N 10212 1031;
65 1 75
Ches & Ohio 4Hs 1914 J-D 9938 9al4 Consol Car Heating___ lou
17
Chic & Alton 5s 1913 Al-S 9j14 995, Cousoi Rubber Tire___ 109 13
55
59
Preferred.................. llto
Chic Elev Rys 5s 1914"..J-J 98 981;
Cln Ham & D 4s 1913 J-J 9912 loo
Debenture 4s 1951...A-U 755 GO
IGI4
Erie 03 April 8 1914..A-08 100-l4 101 (Crucible Steel com___ 109 16
Coll 6s Oct 1 1914.. A-0 0l)l2 9y7g
(Preferred................ 100 9214 93
Coll 53 April 1 1915..A-U 98*8 99 Davfs-Daiy Copper Co__1«< *21.j 3*2
(General Motors os '15.A&U 9978 100 e Diamond Match Co__ 10./ 106 107
Hudson Companies—
duPont ( 1) de Nem Pow lOo 180 190
9934 i0014
0s Feb 1 1913......... F-A
( Ptcferred................ luo 9114 ____
03 Oct 15 1913 . A&O10 99*4 lUUia ( Goid 4Hs 1936___ J-D 88 8812
10
Int & Gt Nor 5s 1914..F-A 98 981; Empire Steei & Iron com 109
5
Inter Harvester 5s '15.F&A 1003g 1013*4
40
45
Preferred .................. loo
K C Ry & Lt 03 1912._M-S 96 98 ( General Chemical com.lOo 160 172'
Minn & St L g 5s 1913..F-A 90 94
( Preferred................ 10. 109 111
Mo Kan & Tex 5s 1913.M-N 99 99l4 Goodrich (B F) Co com 109 751- 7612
Missouri Pacltlc 5s 1914.J-D 95 96
Preferre-.___ ____ 10u 103 IU912
Nat Rys ot Mex 4 Hs '13 .J-D 98 981; Greene-Cananea............. 2 0 *97g 10*8
e N Y C Lines Eq 6s 1912-22 6412% 4 -ic ( Hackensack Water Co—
4 Ha Jan 1913-1925. ..J-J " l ‘;% 4.49
Ref g 4s '62 op 1912...J-J 801;
4 Hs Jan 1913-192/. j -j 0 4I2% 4 4u Havana Tobacco Co___ loo
7
8
N Y Cent 4Hs 1914___ M-s 9934 100
10
15
Preferred ................ loo
St L & S F 5s 1913 opt J-D 997g loOlg
65
1st g 6s June 1 1922..J-D / 62
South Ry g 5s 1913___ F-A 1 0 0 % 10jo4 Hecker-Jones-Jeweii Minin,
Wabash 4Hs 1913___ M-N 90 94
1st 63 1922 .............M~ 102 104
Westlngb’sc El & M os 1913 1011* luDj, Herring-Han-Marvm _.10u 10 20
e 5% notes Oct 1917.A-o 9034 98 Hoboken Land & Improve t
1st 5s Nov 1930........M-N 103 105
Railroad
Hocking Vai Products..10u 10
12
(Ohio <fc Alton com___ 100 18 23
1st g 5s 1961......... ..J-J
58 62
40 Houston Oil com ctfs...lOo 151; 16
36
e Preferred................ 100
135
e Chic St P M & Om___ 100 127
10u 72
7214
Pref ctfs.........
e Preferred.............__10u 155 lul ( ingersod-Rand com ...109 105 ______
98
( Preferred................ iu»
eColo & South com___ 100 39 42
72 77 Intercontln Rub com__ 109 121; *13 "
e 1st preferred........ .1 0 0
90
e 2d
preferred..........100 65 75 internet Hanking C0 . . I 1 O0 85
56 581; International Nickel___ 109 310 316
e N Y Chic & St L com ..100
Preferred______
luo 119 121
e 1st preferred...... ..100 103 . . . .
1st g 5s 1932......... ..A-O 105 IU9
(2d preferred..........100 84 90
2
4
International Salt......... 109
Northern Securities Stubs
1st g 6s 1951.............A-o 1 47X2 49
Pitts Bess & Lake Erie..50 *30 35
72 International Silver com lOo 120 ____ _
Preferred................. ..60 ♦62
Preferred.................. 109 1291;
! Railroad Secur.tles Co
8314 89
Ill C stk tr ctfs Ser A ___
1st 6s 1948...............J-L 110 I ll*
West Pac 1st 6s 1933..M-S 83 831; Internat Smelt & Reis. .99 122D 12512
89
Kayser (Julius) & C o ...109 87
Standard Oil Stocks
1st preferred.............lOo 109 114
Anglo-American Oil........£1 ♦22 23 e Lackawanna Steel___ 109 36 3712
e 1st con 6s 1950....... M-s 79
8034
Atlantic Refining......... 100 455 165
e Ueb 6s 1916........... Ai-s
Borne-Scrymscr Co........lOo 163 200
94*8
100 V 1*4 93
Buckeye Pipe Line C0 . . . 6 U *170 180 Lanston Monotype.
Chesebrough Mfg cons..l()o 800 900 Lawyers' Mtge Co......... lou 222 225
Colonial Oil....... ...........100 150 200 Lehigh Val Coal Sales . 60 240 244
Continental Oil............. 100 850 350 Loose-Wl.es Biscuit com. 109 4214 43
1st preferred_______ 100 10214 103
Crescent Pipe Lino Co. . . 6 0 *65 75
2d preferr. d...............loo
87
90
Cumberland Pipe Line..100 70 80
*31; 712
Eureka Pipe Line Co._.10u 3»6 395 Madison Sq Gard’n Stubs ..
Galena-Signal Oil com.. 100 230 240 Manhattan Trans.t......... 20 *214 238
Preferred................... 100 140 150 Monongahelalt Con C&C. 6 0 * . . - 20
__
Preferred ....................69 *50
Indiana Pipe Line Co___ 50 *110 115
46 Mortgage Bond Co____ 100 105 109
National Transit Co....... 25 *44
New York Transit C o ...100 360 J/0 eNatlonal Surety......... luo 228 233
.
Northern Pipe Line Co.. 100 140 150 (New York Dock com.. 100 2012
35 *45*
e Preferred...............lou
Ohio Oil Co....................25 ♦103 106
Prairie Oil & Gas...........100 290 3oO N Y Mtge & Security...109 208 21212
6
Solar Retlnlng............... 100 550 u.jO N Y Transportation........20 *5
Southern Pipe Line Co.. 100 240 250 Nites-Bem-Pond com__ lou 87
90
South Penn Oil.............100 680 700 Nlplsslng Mines................ 6 *7*8 77S
Sou West Pa Pipe Lines. 100 165 1/6 Ohio Copper Co....... ...... 10
U * !•
112 2
Standard Oil of Calif__ 100 175 185 ( Ontario Sliver_______ luo
Stand Oil of Indiana___ lou 228 233 Otis Elevator com_____ 109 72
76
Preferred.................. 1U, 101 102t2
Standard Oil of Kansas. 100 2j0 j 20
Stand Oil of Kentucky..loo 385 )U5 Pittsburgh Brewing____ 60 *S18 8*2
Preferred.................... 69 *38 39
Stand Oil of Nebraska.. 100 260 285
Stand Oil of N J (old)...10U 950 J80 ( Pittsburgh Steel pref..109 102 103
31
Stand Oil of N J........... 100 388 394 Pope Mfg Co com......... lou 30
Preferred .................. lou 74
77
Standard Oh subsidiaries... 560 530
Standard Oil of N Y___ lOu 375 >85 Pratt & Whitney pref__ loo 101
Standard Oil of Ohio...100 190 200 Producers Oil................ lOo 120
Swan & Finch............... 100 176 225 Realty Assoc (Bklyn)._luu 114 118*
Warrants fwheu issued). *75 126 Royal Bak Powd com__ luu 210 215
Preferred.................. lOo 109 111
Union Tank LlneCo___ 100 60 70
Vacuum Oil...................100 165 170 ( Huiueiy (M) Co prel ..109 101 102
Washington Oil............... lo ♦25 36 Safely Car Heat & Lt__ l()u 117 118
Waters-Plcrce OH......... 100 1200 1700 s Seara, Roebuck & Co..lUu 189 190
( Preferred................ lOu 1231;
Singer Mfg Co________ lOu *280 286*
Tobacco Stocks
1
2
8011th Iron & S com___ 10U
(See alio Stock BxchangeLlst)
2
Preferred.................. luo
4
Brltlsh-Amcrlcan Tobac.jfcll *313.) 32
40
Conley Foil.................... loo 290 330 Standard Coupler com.. 10^ 30
Preferred..................109 108 112
e Holme (Geo W) com..100 160 192
s Standard Milling C o ...109 311; 3214
e Preferred_________loo 103 m
Johnson Tin Foil &Metal 1U> 180 230
< Preferred................ lOo 031; 65
Mac Andrews & Forbes.. 10c 2,0 (05
( 1st 6s 1930.......... M-N . - . 86
Porto-Rlcan-Amer 'lob.lOu 270 -80 Stern Bros pref............. 109
86 89
Reynolds (R J) Tobacco.lou 270 2j0 ouizbcrger & Sons Co pf.luo 100 101
United Cigar Stores CorplO 260 -61
Texas & Pacific Coai___10u 99 102
215 ______ - Texas Pacific Land Tr.lUo 91
2 Weyman Bruton Co__ loo
Title 1ns Co ol N Y........109 120 125"
e Preferred____ ____ 101 113 115
Young (J S) Co_______ 100 185 200 lonopab Min (Nevada)__ 1 *0*8 67g
4
Trenton Potteries com..109
7
Preferred new........... 109 60
65
Industrial and Miscellaneous
40
Adams Exp g 4s 1947..J-D / 831; 841; Trow Directory.............109 26
43
Alliance Realty......... ..lo o 118 120 Union Typewriter com..199 42
1st prtTerred.............lUu 108 110
Amer Bank Note com__ 60 ♦43 53
54
2d preferred________ luo 107l2 110
Preferred....... . . . . . . . 6 0 *53
1; 1
American Book........... .10o 169 175 United Copper...............109
Preferred____ ......1 0 9
15
American Brass........... .lOo 1371; 140
American Chicle com— 10n 223 227 U S Casualty................ lou 195 ‘ 205
Preferred...................100 105 108 j S Envelope com........luo 97 101
Preferred............. .....lou 11712 1181a
Am Graphophone com__100 35 60
93
96
Preferred............. . . . 10.1 76 83 ( U S Express__ _____ loo
100 85 90
American Hardware-----lou 1381- 139l2 U S Finishing .
Preferred.. _______lOo 100 105
Amer Malting bs 1 9 1 4 . .J-D 100 102
1st g 5s 1019.............J-J 100 105
Amer Press Assoc’n___ loo . . . . 77
Con g 6s 1929.............J-J 95 100
Am Steel Fdy us 1935..A-O 1001; 1011;
44
Deb 4s 1923............ F-A 69 72 « U S Indust Alcohol__ lot) 41
e Preferred................ 100 98 10412
American Surety......... -.60 315 325
American Thread pref-----5 *412 5 U S Steei Corporation—
Amer Typefounders com.lou 46 48
Col sf Apr 5s 1951 op 1911 114 11434
Col s 1 Apr 58 1951 not opt 114 11434
Preferred...................UK. 100 103
95
Deb g (is 1939...........M-N 1001; 102 U S Tit Gu & lndern___ 100 90
31; Westchester & Bronx Tltl.
3
Amer Writing Paper-----loo
elst s f g 5s '19 red 105.J-J 90 9014
& Mtge Guar.............lou 160 166
Atl Gulf & W 1SS Lines. 1U0
7*8 7-h Westlngh'se Air Brake...59 •138 139
13
95 ,
e Woolworth (F W) C o.. 109 94
Preferred................100
63 65 *
e Preferred................ IOC 115 116 1
Coll tr g 6s 1939....... J-J
Barney & Smith Car comioo 10 20 WortblngtoniURlCo pi. 109 106 . . . , 1
Preferred................... 1(|0 70 80
* New stock, x Ex-dly. v Ex-rtghU.
BOSTON STOCK EXCHANGE—Stock Record, Daily, Weekly and Yearly
SHARE UUICSS— NOT HER CENTUM TRICES
Saturday
July 13
Monday
July 15
*10714 1071
*10212 103
<518 zio
*125 1261
♦204 —
uo»2
—
*13
15
♦78
80
93
*53
65
169
>1071; 1077
*102*4 10 * 1
218 318
125 126
■204 —
961? 961
297
*13
15
*78
80
<'
*----53
53
----- 169
*— . 112
260 270
125 12 0
126 1261
•--- - 851;
125 —
* l 8 l2 l-Jl77
77
134 1341;
—
—
___ ___
175 175
>5012 58
165 165”
*897g 901.158 ___
85
85
99ig 99
112
270
1^512 A^Ol
1261
*- « - — 851;
127
19
//
7/
*134 1341
----- —
■ ----- —
17512 1751.
53
*50
1041,
10 1
*90
901
*153 —
*85
86
99's 091.
*200
'l tiesaau
July 16
108
1073,, 1073
1031 •10234 103
218 218 218 218
12534 1253 12612 127
<204 __
204
97
97
97
97
<296 298
297 297
*13
15 *13
15
*78
80
*78
80
‘ __ _
9-' s___
93,
53
53
*53 ___
1*___ 160
:___ 169
'•___ 112
112
112
>260 ___ 260 ___
12512 1251 125'2 1251
<126 1201 120 1201
‘ __ _ 851 __ - 851
127 ---->125 128
19
19
19U 191,
77
77
77
77V
I3 H4 13H 1:44*4 1343.
__ - - __ __ - ___
____ __
___ ___
175 ___
175 175
58
58
*50
*50
1657g 166
16612 1661
90
*30
90i
90
157 ___
158 --85
85
85*4 85'
100
100
9912 100
>10753
■<10212
607g 607
615
61
1001 , *997g 1001
46,
*4
4
4*4
IS
IS
18
18
127’»8 12<3j 128 128
121
121
i 2 Hg 1211
144VS 145
1447g 145
28
*27
8934 90
893., 90
90
90
81
81
82
*81 —
*81
1003., 1063
*100
101
101
*73g ___
73g 73,
*7^8 8
*123.1 131: 1-3.1 123., *__ _ 13*4
*___ 15 *14
15
15
15
*293 300 <290 — <290 300
—
—
178 178
178 178
8918 89!,<■ z 8 8 V 8 SI4 891® 891963' 9614 961.) 96
961;
— <220
*220
<220
221
*334 41:
31® 31: *33.i 41;
100
>100
103 >100 103
*93 100
99 1 0 0
*98 100
15U2 151i£ 151 151
15112 152
—
*93 ___ *93
162
*101
I 6 H2 10 2
162 162
--- - --- - *1512 16 *1512 161®
105 105
101l2 105
105 105*8
*29
291f 291g 2914 291g 29V
*28
291. *281® 291; *2,8
291'
*2
*2
23,, * 2
23,
2V
601
100
41.
*4
*18
19
1J7*2 127*.
122
144^4 145
Mednesitay
Juh 17
*61
611;
Thursday
July 18.
Sates
Friday
July 19.
1087g 1087 <1081® 1087
Loot Sil i0278july’ l
218 218
217 217
>126 127 =126 127
Last Sal 205 Julv’ l
97*4 971
97
971
___ __ >295 297
J.ast Sal
Last Sal
Last Sat
*53
---
»___
112
Last SU
Lc,st Sal
>125*2 120
12512 1251
*----- 851
Last Sah
*19
191
7712 771
1343, 13'. 1
Last Sit
Last Sat
>175l2 . . .
Last Sat
>IG7V 1073
*90
901
Last Sah
85V 85V
100
100
100
9934 100
*4
414
61
lOOlg
4
1.8
12814
734
5
4312 44
7953 sou
3 OI4
30
♦53S 5»2
7*2 71?
5
5
43
441?
803g 8 U2
30V 81 *
5>2 534
734 8
5^8 51®
41
45
82
821,|
3012 301?
Sl2 534
8
9
*51s 51?
45
45
813., 82/«
303s 31
*712 8
51® 51?
4512 4512
827g 835„
31
3H4
558 57s
+7
*234
*7
3
73S
*3
73.,
43
7t2
*3
7l2
5
533
6
7*2
3
50
50
50>4 57
*5
51® *5
51*131g 1312 *13*g 130
10
1014
434 4‘ 6,fi
5114 52V
912 91'
303,.
30
*1
11,
10<8 I 6 I4
*183g 183,*00
♦ 88
01
891'
3234 3314
27,
~78
n*
*iu
34
341;
0*3 6 V
127g 1 2 ?f
* 012 7
9-Jg 97?
273.1 273
*2
3
05
65
1914
20
1012
11
4*8 5
511® 521.,
91® Mi
2912 30
1*10
l*in
10*2 161
1834 19
a58
59
*8812 sji?
331.t 343*
2*4 2 /.v
* i‘ n 13*
3412 341;
* 6 7s '*8
1 2 78 15*8
*61.i 7
912 912
2734 28
*2
2 'r
6412 651;
2 0 lg 20V
31® 30
7V 7-.
30i2 31
4
77fi
301'
514
514
5lg
41- *»4 41;
71'
7*4 7*4
55
*5512 57
1131' 114 115
1812 181181'
881; 8712 8 8
20
2 0 'f
2 0 >g 2 0 a
234 23, *2 -)g 3
16
15*2 153.1 16
* .6 5
.71) .70
.70
40
401.; 40
47
2
l'f
1 ?8
* 78
40
38
*38
38
50
5*4 51 - 5
*388 37 J6 *33g 3*18
4334 44
4 1 4^ •)
497g 49V: 4912 49V
*2
11
10V l(Aj
OOI4 601? 003, 61
*3^4 33g *51., 334
*512 6 U
3*2 51;
1U3 103
100*2 107
* Bid aiia
pitOvtt
*3i2
*734
30l4
♦5
*414
/I4
*54
11312
18*2
83
73j
31®
7*,
3V
5 Atch Top & Santa Fe.10
L)o pie................. 10
13 Boston & Albany___ 10
4 Boston E evuted........ 1 0 (
1Ioston & LowelU___ lOi
4‘ Boston * Maine........ 10
10 . doston & I’ rovIJence.loi
8
8
5*3 578
40 46
831® 84V
31V 315S
57s OV
42! Vmcr A rrleul Cheni..lut.
;o,
U
pret__
651
60S Amer Pneu Servlcv. 5u
ret________ 5 0
1,08V Do
14: Amer Suyar ltetii___ lou
uo pret_________ 10 1
291
1,38’ Amur 'lei-,. & 'ielcir.lUu
Amer can \Vooleu.
lot.
Do pret____
luo
19<
Amoskeau Manufacturing
Do pret. . _
3 Atl Gulf & W I .8 S L-100
Do prei.. _
lou
31
25 Eust Boston Land
lo
3; Edison Llco Ilium. 1 U0
318 General Electric.
100
641 Massachusetts Gas CoslOO
Do p.ef______ . 1 0 0
3G<
MeruenUiuler Lino__ lOo
10
8 Mexican Telephone.
100
5 N E Cotton Yarn
Do pret__
too
11
100
170 N E Telephone
’ortland (Me) lVlec-.l 0
100
153 Pullman Co._
Uoeco Button-Hole
10
100
272 iiwltt & Co___
25
290 lorrlnaton__
Do pref_____
25
Union Copper L & M 25
100
303 United Fruit.
25
1.765 Un Shoe Mach Corp
Do pref............ .. 25
341
100
0.258 U -S Steel Corp___
96 Do pref_________ 1 0 6
779
630
890
7,031
2,215
5,105
Alining
Adventure Con______25
Aleomah Mining.
25
Allouez_____________ 25
Amalgamated Copper 1 0 0
■tin Zlnu Lead & Sm. 25
Arizona Com’! ctls dep
Range since January 1
On basts 0 / 100 -s/j-jre tots
Louesl
U ajlieu
JUH
■I Mayl
1 - - May
12
....! .
170 9a
1.
.,.1
112.1, J’ne
1 1,1
J’ n e 1 >i 1 9 Apr ,
\lilo
1
84 - J’ly
1 1/83 May.i,
1 u)4 J’ly l.
Is May - 2.1V - • ■
■vi Feb ;
14.V Apr
1.19 Mavl
1 4 , J’ ly • 14 i .) 1.1 L ■
2 0 .. J ly
17 1 J ue 1 ISi aatl 3i
/I ,:" 1 :
41 .1 1
174>, Apr
10M? Feb
<j.l2 Feb
911 J’ne
10)
1
1.
158 J’ly
8J
Apr 1. 8 8 Feb .
98 J’ly 11 lull? Mch 1
121
58V Feh
*J9'>s J’nc.-,
033, Mch’-'
105 Men •J., J’ ne
21 J ne
Ma.. l
123 Apr
149 Men;'.
311 M ch/U4V Mch .'.,
84 May
105 Mehzi
9 Feb 14
20 Jan 18
17V May;’/
309 Men-’ ,
I8 U4 J’ly 0
94 Mch 6
9878 Feb i.
225 Jau 18
4i2 J’ne.i
14 Mch-i
Jan 1(
1151® Jan 4
137i2 Jan ;
25 Jan 31
80 Feb 6
77 Jan 3
z'JOV J’ no 21
7 Ja 1 4
121 ®J’no 8
1034 Jan 2
289 May2 o
155 Jan 2
z85V J’ly 15
9312Jan 5
217 J’no 21
212 Mch 14
109 J’ne 1.,
08
J’no 28
150 J’ly It
72i2 Jau 17
158 Feb 1
1384 Jan 2
98i2 Jan 2
27 May b
28 Jan 5
.85 Jan 6
178 Jan 29
40V Jan 15
27V Jan lo
58>8 Feb 18
107V Feb 13
384 Apr 8
2081® J’ ne 19
531., Mch 13
291® Apr 2 c
73V Apr 3.
1133', Mch2.
0*4 MeU28
4-V Jan 4
3SV Feb 1
00
Feb 1
2H2 Feb 15
2 Jan 2
111., Apr 96
si., May 2
O0 I3 J'r.c 21
Si*, J’ne (,
831., j ’n c2;
0'8 Apr ;
11484
1
12
107 Mch 2 ,
104 Mch la
90 Moll 2ii
10512 Apr 2u
1738 Apr 11
109 Mch 27
uVJ’no 0
5'l i Apr 2
7
1
613| J’nc l;
78V J’no 6
511 J’ly (
5 27i2 Ttpr 18
28 35V J’n c 2 i
1
56>4 501., 57
57V 67V 58 58V 1,283 Copper Kange Con Co" 100 50 Jan 31
57
5
5V
51- *5
51®
5U 5V
20
5 Jan 19
20 Daly-West
1418 2,529 Ea?t Butte Cop M in.. 10 12V Jan 15
131? IHI4 1334 13*2 1378 14
12
12
12
12
u
11
11
11
25 10 .J’ly 13
838 Franklin __ _
•134 47, *43, 4 1 6,o *47g 5
4V Feb 27
335 Giroux Consolidated. 5
* *7a 4‘ 5,8
£212 531., 5212 53
52l2 63V 53-38 551® 2,377 Granby Consolidated. 100 33 Feb 5
03, 97g
93S 9V
97g 10
10
101?
20
7l2 Feb 29
1,675 Greene Cananca.
301., 8 < 1 31
31
31
3U2 32 32
1,105 Hancock Consolidated 25 29 Jan 6
_ ___
*11J0 13, >i‘ i.
1 Jan 3
11 "
250 Helvetia Copper___ 25
I' io IV
25 113s Jan 10
1612 17
17
178., 18V 1,835 Indiana Mining
171? 1734 1,8
I8 I4 I8 I4 *1812 19
IS Feb 0
1812 1834 187g 19
365 inspiration consol 0 . 2 0
*56
59
56
56
55
55
1
4012 Jail 17
65
55
102 Island Creek Coal
8 OI4 8914
Do pref.
l 85 Jan 13
88
89*2 8 ,8 V 881.,
8 M4 *83
27
34>3 35
35V 363, 17,186 Islo Koyalc Copper.. 25 2034 Jan 15
3412 3514 35 36
*234 3
*23, 3
*213,8 27? *2*, 27,
5
2 Apr y
385 KeiT Lake.
__ _ ___
*13g 13.1
Keweenaw CopDer
25 .80 Jan 2
Last Sale U2 July’ 12
343g 35
34
37
373, 4,446 bake Copper Co
35
25 32i2 Feb 1
35
37
7
7
67g 67,
25
7
7
41® Fel) 15
545 La Salle Copper
7V 7*4
131g 1334 1314 133, 133g 131; 13*2 1*84 2,140 .Uaaon Valley Mines . 5 1078 Feb 8
._ ___
*G12 7
25
* 012 7
7
7
0i2 J’ly 9
50 .lass Consol___ __
25
*012 10
10
10
10
10
1012 101 ;
234 jan 3
505 dayllowe;-________
2734 28
29
29V 29V
545 Miami Copper_______ 0 233s ja n 29
28*8 281; 29
®5
*2
*218 21 "
July’ 12
Last Sah 2
21 ;
50 Michigan ................
2 Jan 2
60
25 50i2 Jan 30
661? 6612 08V 68
69
691?
63-1 Mohawk___ __
6 8 I4
2034 2034
2 0 U 203,
2014 2 ( l4
2012 201 ;
97(i Nevada Consolidated. 5 18V Jan 29
*31® 4
312 31; *312 4
*312 4
70 Nov/ Arcadian Copper 25
3V Feb 8
*77g 8
5
584 Jail 3
85 Nlplsslng Mines.
77S 77, *712 778 *712 77,
313, 3034 3114 31 3138 3012 3W, 5,112 North Butte..
31
15 2234 Feb 1
534 6
25
5*4 510
6
573 6
5V Jan 30
750 North Luke..
*4
■1 J’ly 9
41? *4
41? *4t4 434
25
116 illbway Mining.
41g 4V
734 81; 1,831 Did Colony___ •
25
258 Jau 2
71? 8
758 8
77S 8
56
57
57
57
57
57
*56
67
25 44 Jan 31
470 Old Dominion Co
115 117 >116 117
117 118
25 100 Jan 15
117 117
311 Osceola........ . _
*1812 18*, I8 I4 181'
1812 181; I 8 I4 181; 1,316 Pond Creek C oa l___ 16
15 Mch 27
88
90 911;
881® 8 8
881; 89
90
571 Qu ncy-------------------- 25
73*2 Jan 29
2012 213,
2 0 M 21 >4
20V 207, 2034 207;
691 day Consol Copper.. 10 10i8 Jan 29
*234 215,8 *2*8 3
3V 3»,
990 >antn Fe Gold & Cop. 10
2*5io 3
1 Jan 31
I 6 I4 103, IOI4 161? 1012 1634 1658 1684 3,141 shannon .......... ......... io
9 Jan 31
.62
.70 .70
.71 .70
.?( >.62 .70
700 South Utah il & s . . 5 .00 Feb 1
473, 4678 471' 471.4 475, 48
47
483. 4,43< .uperior------------------ 25
24 Feb 1
134 1*4
U2 11?
15g 15,
510 Super-or* Boston Jlln lo
1 7S
I7,
IV May 24
*38
40
40
40
41V 43
25
*40
41
261 I'ui.iarack________
26 Jan 31
5 I4
536
53, 6
6
CV 1,095 I'rln'ty-------------------- 25
5 Jan 15
6*4
*33g 3*,e *33g 3*
33g 33,
40( I’uolunine C opper__ 1
3 Vs 36l»
3V Mayl5
441® 44 0 4134 45
45
45-, 453, 46'< 10,003 J S Smelt Her & Min. 50 24 Jan 31
497g 50
49-3 497,
D
pref................ 50
49V 493
4958 50
460
47 Jan 10
23,
2*4 2V
2*4 2*4 *26, 2 »i 8
451 Jtah-Apex Mining__ 5
2 May21
Si'4 111 11
1034 103., 103., I 6 I4 11*4 111 ;
921 Jtah Consolidated... 5
9i®J'ly 8
*61
61
62
62
on., 61
6 II4 Oil575 tali Copper Co____ 10
5212,Jan 29
*31.4 33.1 *314 334
Last Site 134 July’ 12
33, J’ly 12
*ol2 61?
51® 0
*512 616 tj>
25 vVlnona____________ 25
108 108
109 109
110
110
109 110
110 vVolverino_________ _ 25 943j Jan 29
*2
?'
S=1 V"
Otr
25
184 Jan 5
u *1 jwswca. 6 a u t#
o
viiv. /i ■uJ.v.-fi^aus, a
aaa n^ucs. £ Umjtaui^od.
*5
*1314
121?
Range m Frevious
Year 1911
iMieeit
10378 Feb 1 1 llh Apr
It) 112 Jan 1 1041.4 Feb
1 . J’ne -• 2 2 2 1 * Apr
i;’5 J’ly 1 134 >4 Mch 2
2 (H J’ne l
90
May 2 10012 la 1
297 May
Jo 1 Apr ;.
1
Ma v
7*, 8
635 UostScCorbCopt'cSlLMg" 5
014 Feb
*3
31?
80 Butte-Balaklava Cop. 10
3 J’ly
23 Feb’ 12
433g 4312 441 ? 4l'g 431' 393g 4214 413, 42V 42 43
43
25,792 Butte* SupCop (Ltd) 10 10i2 Feb
727g 731,1 731® 7 4
74'lj 74
74
747? 7434 75
75
76
2,387 Calumet & Arizona.. 10 57l2 Feb
510 5 2 0
515 525 515 515
520 524 524 625
510 514
405 Feb
258 Calumet & Iiccla___ 25
*___ 24 'f__ _ 24
*2312 241? *2312 24V *231® 241? 25 25
25 17i2Jnn
120 Centennial_________
2934 301g
30'g 36 ? 30'g 31
31
311,, 3H? 32 32
31
5 25V Feb
782 Chino Copper__ __
712
314
71®
3I2
STOCKS
BOSTON STOCK
EXCHANGE
Do prei__
40 June’ l
1218 Jan'l
..oston & Wore Elec Cos.
i1 > p 0 .
*53 . . .
3
169 Junp’ U
Chic June Ky & USY tot
Do pret.
•
■___ 112
1:
272 Anr’ U
Connecticut Hlver. it).
125>2 1251
101
101 N toll burg, prel__
>125 126
1 1 , Ga Ky & Elec stmpd.10
8512 85*
60
pre------------- lot
51
.203,JulvT; __
-fine Central_______lu>
19
19
bit
3f •tas.) i.lectrle t o77
77
Do prel Btumped.loe
18‘.
13478 1.85
25' N Y N H & Hartlora.lOu
3473 .1uly’ l;
Nortnern N 11
10
206 Julv’ l;
.Norwich & Wor pret jo,
176 170
10.
1 ! >1-1 Colony__
>9 Mav’ i;
itutland prel
10,1
109 109-3,
hi1,16; Union 1’a.llle.
*90*, 01V
L10 pre-___ _____ 10
2(
15.8 Julv’ l;
v’e-111 >nt & Mass___ io85V 851
12 : \. OSi, -.-a C't_______ _ 5,.
>100
1001 ;
Lio pret__
. 5o
101
611- *01
613,
1003, 1001 ® 1001 ®
43,
4
4
177g 18
19
19
19
128 I 2 8 I4
129 >128*3 129
122
122*4 121*2 122
>12012 1211 <
14473 145
145 145V, 145 1451'
___ ___
Ijast SaU 2912 Mch’ 12
8934 8934 891® 893, 89*, 893.,
82
*81
*81 ___ *,81 ___
1__ _ 101 >___ 101 >101 ___
*733 7*4 *738 . . . .
*733 ----*13 ___ *13l4 ___ *___ 13*4
143.- *14
*14
15
15
15
295 295
295 295
295 295
1771® 1773,, 179 1801; 180 18038
8812 8834 89
89
SSV 89V
063g 963,1 96
Oo-lJ 96
96
>220
2203.1
Last Sale 220 July’ 12
*334
*334
41,
41?
*334
414
>100
103 >100 103 >100 103
100
93
98
100
*98 100
15212 153*4 15312 154
153 153
*93
Last Sale 90 Mch’ 12
102 1623., ___ ___
1011® 163
*1534 161?
Last Sale 17 July’ 12
105 105*2 105 10538 105V 105V
291g 29*4 291s 29V z2812 281?
Last Sale 29H July’ 12
*2812 29*2
Last Sale 2
July’ 12
20 0
200
200
201
202 203
201
26 i
202
200
205 207
*50
51
51
51
5134 517s 61*2 5U?
52
51
511® 52
*29
2 .H4 29V
2 9 I4 29U
2914
29*8 29V 29-38
2912 291; 20
0734 08
6 8 'g 681691; 683, 70
69
70
70-38 6<J78 70*,
111
112*8 1121 S ................
11133 >11112 1117f 11134 112 :=ini4 112
*00
100
Week
Shares
001 ®Apr 1.
7l2 Mch27
15"*, Apr 11
lot, Apr 1
0",oApr 6
0 OI4 Apr 26
103, J’nc 21
3/ J’nel
2 May
23
Apr 24
21®3 Jan 2 ;
0534 j ’nct,
906 May 17
303g J’ly ,
3i8 Feb lj
3 May
49 Apr 1 .
8
Apr 17
111®J’ne 37
93, Jan 4
181? Apr ; 8
29is J’ly 1
Sl2 Apr 2e
73 J’n c 2 i
23V May 1
0 I4 Apr In
8*8 Mch25
35 Apr 11
83., Apr 2 ;
cG34 Jau 11
13V May i
69 J’ne t,
1301® J ’no j.
19-3 J’ne i,
95
J’ne 2 ;
221® J’nc::;
4?8 May_hi
17V J’*V c
13, Apr 3
4 i v J’ty 1
4 /3 Jan la
51 Apr 18
91® Apr <•■
4"in Meh 26
48 J’ly a
603, J’no 2.
3"m Feb 11
2(>v Apr 2
651® J’no (1
734 Men 1
117 Apr 17
31., Mch 4
90V Sep
ml Sep
19 Apt
l . 4 i2 Sop
.97 Feb
901? Oct
.92 Mi 1
70 Oct
a Feb
. 81® Jan
111/
Met
II U/hest.
UGI4 J’ ne
220
Feb
218 Sep
122V Feb
300 Mch
10 Meh
68
J’ly
1/1 Deo
1161? J’ly
:H /i" Jan 3104 Oct
Feb
135 Sep
I® Apr
.
13a
.10
185
Sep
Jan
Jan
Muh
•>2 jarleal? Sep
09
Men
106
Atch
8 o Sep
Id j Auj
192V J’ly
oO's May
164V Dec
93
Mch
105 Jan
46 Sep
99 Jail
1056, Mch
142
Mcll
190 Nov
122 ' Feb
Jan
131'V Aug
-.0
Dec
656 Oct
U012 J no
It I- Dec
09
Dee 1001® Dee
7:i8 Dec
141? Nov
20
Jan
12 May
7V Jan
Ue Sep 29/ Deo
142 Sep 1073, May
0784 Jan
9084 Aug
93
Dec
98i2 Oct
2 ll
Jan 235 Aug
47s Jan
3 Oct
103 Oct 119 Mch
101
Nov 1161® Meh
13/ Jan 105l2 Dec
023., J’ly
7334 Nov
163 Sep 103 Jan
*12
Jau
15 May
0784 Sep
104 J'ne
29 Sep
30 Jan
31 J 1y
21 Mch
84 May
I'm Mch
4178 Dee 107*2 J’ly
6 S78 Feb
4u1., Aug
2 UV Jan
20i2 Sep
50 Out
S2V Feb
103V Sep 120*2 Feb
11184
i Sep
;i®Oct
Aug
Sep
19*, Oet
l-’V Dec
21
4434
Aug
3 Nov
14 Aug
334
40 Sep
300 Sep
8
Aug
103s Sep
Sep
Feb
S7g Aug
6 l2 Aug
3-V Sep
26 Aug
5,J,o Oct
17 Sep
84 Sep
6 V Oct
4034
8
296, Mai
8 ; I8 Sep
111? Aug
2«3 Oct
1®Nov
22 Aug
3 Aug
01® Apr
■M? Aim
20 Feb
1078 Sep
1*4 Nov
36 Apr
15 Sep
2
All2
* 0 t2 Dec
20
Sep
334 Aug
Dec
50
Jan
34V ^eP
81
Sep
Sep
Sep
Apr
7 Oct
12 Dec
20 Oct
e2 is Oci
20
Sep
278 Oct
1-3, Sep
303s Sep
45V Aug
17s Nov
984 Jan
38 Sep
66
12
84
8 34 Nov
74 Nov
.30 Nov
7V J’ne
J’no
Deo
71V J'ne
11
4 -1*4
2" i0
Dec
15i2 May
61® Jan
23l2 Deo
545 Jan
19 Dec
27i2 Dec
Feb
7 Dec
1‘134 J ’ll<5
14 J'ne
SV Feb
431® J ’no
80 8 Dec
oli 2 Dec
0034
10 J'no
91 J’no
23 Dec
V» Jan
314 J'ne
49 J'no
0
Jan
117S Deo
sio J’ne
3*44 Dec
2138 Dec
3i2 Jan
67 Dec
2D., j-„e
4*4 Aor
1 138 Feb
80V J’ ne
934 J’ne
3*2 J’no
*V J’ly
49 j ’ne
124 Jan
76 Dec
19 Dec
8*4 J’ne
£2
Jan
6 i® Dec
47s May
40V J’ne
491® J’ne
3i®j'no
20 J’no
67V Dec
UI2 Fob
122 Feb
2 Feb
Boston Bond Record
J u l y 2 0 1912.]
Range
Since
Jan. 1.
Week's
Range or
Last Sale
Price
Friday
July 19
BONDS
BOSTON STOCK EXCHANGE
Week Ending July 10.
High No
Low
101BS 1013,
Am Agrlcul Chem is1; 5s. .1928 A-G
903„ 6 ’
9012 Sale l)03a
Am Telep 4s Tel coll tr 4s .1929 J-J
Convertible 4s__________ ,1936 M-S 114 ___ IIU2 J’ly T89'* J'ncT2
Am Writ Paper 1st s f 5a g -. .1919 J J
131 J’neT: ....
Am Zinc L 4s S cleb 03........ 191 5 M-N
SO
£0 Sale 75
Arlz Com Cop 1st Os ctfs of dep.
18 'a J’ly ’ 12
Atch Top A S Fe gen g 4s__ 19U.J A O
91 Mch'12 ....
Adjustment!? 4s___ Ju»y 1995 Nov
80
Stamped ______ July 1995 M-N ’ 3912 Sale 89!g
LDSla Mch M2
50-ycar conv 4s-------- .1955 j - n
110’>8M ch'll
10-year conv 5s-------- 1917 J D
l
Atl Gulf A W i SS Lines Os..1959 J- j 63i2 Sale •31? 01
95'a Feb 1
Boston Kiev 30-yr g **s----- .1935 >l-N
100*4 Mch'OJ ....
Boston & Lowell 4s---------- .191 J-J
10412Oct 'OS
Boston & Maine 4 4 s .......... 1944 J-J
Improvement 4s------------ 193 F-A
9 5 " Feb*12
Plain 4o_______________ 1942 F-A
103 J’ne'l:
Bur 4s Mo Rlv cons 6s____ loin J-J
11Pa Sep 'll
Cedar Hap 4s Mo K 1st 7s 1916 M-N
olu J’ne’12 ....
Cent Vermt 1st g 4s__ May 102u g -F
1103 Oct 'Oi
0 13 4s Q Iowa Div 1st 5s__ 191). A O
9912 Mch’ 12
Iowa Div 1st 4s_________ 191). A-0
Debenture 5s__________ 1919 M-N loo^a___ 100>SJ’ly T2
9978 Feb 12
Denver Exten <rs.............. 1922 F A
98l2 Mch‘ 12
Nebraska Ex ten 4s_........ 1927 M N
99l« Feb Tl
B & S W s i 4s. ................ 1921 M-S
87i« May 1j
Illinois Div 3 4 3 ________ 1941. J-J
Chic Jet Ky 4: Stic Yds 5 s.. 19l.» J J lo o i2l J l LOO’j J’ly 'I*.
Coll trust refunding g 4s. 1940 A O ___ 901; •)Ui2J’ne 1
114 Jan Tl
Oh Mllw 4s St P Dub D (is.. 1920 J-J
1133S Feb Tl : : : :
Ch M 4c .St P Wls V div 6 s.. 1920 J J
.,1 Mav 12
' Ch 4c No Mich 1st gu 5s__ _ 1931 M-N
963j J’ly T2
: Chic 4c W Mich gen 5s........ 1921 J-l)
07*2Sep ’ ll
Concord A Mont cons 4s — 192i.> J-D
lOOU A ’jg ‘0.
Cudahy Pack (The) 1st* 5s 1924 n-N
Current River 1st 5s_______ 1926 A-0 100 ----- 100 May’ 12
78 ___ 8) MayT2 : : : :
Det Gr Hap 4c W 1st 4s___ 194 A O
99 J’ly T.
Dominion Coal 1st s f 5s___ 1U4U n-N
10313 Apr '05
Fitchburg 4s_____________ 1915 M-S
96 Apr '08
4 s ____________ ________ 1927 M-S
127*2 Mch‘12
Fremt Elk 4i Mo V 1st 6s__ 1933 A-0
127 Mch‘12 ___
Unstamped 1 r Gv__........ 1933 A-0
N O T E .— Buyer pays accrued tutjrest In addition to the purchase
Im w
169
BONDS
BOSTON STOCK EXCHANGE ! ?
Week Ending July 19.
s i
High
KID.; 1023, General Motors 1st 5-yr 6 s. 1915
901* SIII4 Gt Nor C IJ 4: Q coll tr 4s__ 1921
108*4 1153,
Registered 4 s__________ 1921
89'8 90
Illinois Steel debeu 5s_.I_" 1913
la Fails 4: Sioux C 1st 7s_” 191
103 131
Kan C Clin 4: Spr 1st 5s___ 1925
64 82
98 993, Kan C Ft Scott A Mem 6 s _I 1928
91 92*6 Kan C M & B gen 4s______ 1934
Assented income 5 s ..” I 1934
8 )12 «J16f
108*3 108** Kan C A M Ry 4: Br 1st 5s. 1929
\larq Hough 4; Ont 1st 6 s . _ 1925
6 1 68*4 Mass Gas 4 Us___________ “ 1925
95 95*S .Mich Telephone 1st 5s___ I 1917
New ling Cotton Yarn 5s.I 1925
New Eng Tel p h 5s_____ 191
5 s __ _____ _______ _____ 1916
96* 95 * New England cons g 5s___ 1945
Boston Term 1st 4s____ 1935
103 103*>
New River (The) conv 5s__ 1934
8912 9214 N Y N li & II cou deb 3 Us. 195u
1948
Conv deb 6 s _____
!H>10 991- Old Colony gold 4s________ 1924
HIO** 101*2 Oregon Ry A Nav con g 4s. 1946
Oreg Sh Line 1st g 6 s______ 1922
'»978 100
98*2 985* Pere Marquette cleb g 6 3 __ 1912
Repub Valley 1st s C6 s__ 1915
V<& V73" Savannah Elec 1st cons 5s. 1952
1003k 1013.) .Seattle Elec 1st g 5s_______ 1930
■Shannon-Arlz 1st g 6 s____ 1919
89 91
Ferre Haute Eiec g 5s____ 1929
Torrlngton ls tg 5s________ 1918
:T “ 99** Union Pac RR 4s l gr g 4s_ 1947
963., 101
20-year conv 4s_________ 1927
United Fruit gen s f 4 ^ s . . . 1923
Debenture 4 Us________ 1925
99*4 KM
U S Steel Co 10-60-yr Os Apr 1963
80 8 G14 West End Street Ry 4s___ 1915
98-3, 99*4
Gold 4 Us_________
1914
1916
Gold debenture 4s.
Gold 4s________________ 17
127*2*27*: Western Telcph 4: Tel 5s__. 1932
127 1271? Wisconsin Cent 1st gen 4s. 1949
price «.or alt Boston Bondi
Price
Pri lay
July 19
Rid
Weep’s
Range or
Last Sals
Ask 1/no
Range
Since
.lan. 1 .
is
P
/ / igh No
Low High
99L 99*1
1001 - 9 9 l4 Feb T:
96i4 2 <j 96 981j
96 961- 90
961* 975*
9534 ___ 9(>v J’ly T:
Q J
IOOIr *0034
A-O 1 0 0 *s 1 )03 IOOI4
lOd'V
A-0
A-O
97 Mch 1
9«12 97
M-N ___ L17 114*., J’ly T:.
UU4 117*2
M-S 92*2----- 92*0 Mch 192 92*2
.1- s ___ 8 6
8)3, J’ly T
84*2 89
A-f) 103 ___ 102*4 May’ ll ___ 1021*10231
115 J’ne'OfA-O
98
98
98 99*2
J-J
i00*3 100*3
J J _______ l(K)*S Apr 1
1*-A
•8 J’ly Ti
96*2 99
A-O
1ol3* Mcn'l i
A-O
99®4 9973
997 *Jan
:
J-J
A-O
J-J
J-J
9214 Mch 'I:
921, 9238
J-J
*2834 J’ly ‘ I:
129*3 132*2
1-- A
101 Apr 'u
1 I)
F-A
112 1133.
112 J’nc T 2
J-.I
95 Jan i
95 95
J-J 103 ___ IOJ Jan li
___
J-J
701, Dec l
1 0 .1- J’ly ’ 1
- A
IIUIo 105*4
.)8 J’ly T:
83*2100
M-N
) -J
9934 10034
M-S
1 i* >J’ly T:
J-J
100*hJ’ly ’ *
100*3 1005*
mi's Alay'i;
J J
Ml'slflCa
J-J
96*4 Sale 96*4
96'
1
955* 97*8
!6
1
J J 95*2 96 9 5 /3
95*4 96*2
M-N
*02'>3 1)2
1 I()158 104
9
9
May
1.
F-A
99 99*3
M- S
100*4 IOOI4
M-N
F-A
‘ 8 N ov'll
J-J 10058----- IOO83 1005. 11 99*2101
931*8 935*
9 ;! Feb 1‘. —
J-J
* No price Friday: late t oid and as:ced li fiat price
A-0
j-.i
100
Philadelphia and Baltimore Stock Exchanges—Stock Record, Daily, TYeekiy, Yearly
lihars Pricai—.Not Per Cc:ituni Prices
Saturday
July 13
Monday
July 15
Wednesday
July 17
Tuesday
July 16
Thursday
July 18
Friday
July 19
♦106 ___ 10712 1071; 10712 10734 10712 1071; 1-107 1081? 103 IO8 I4
105 105
10512 1071; 107*2 107l£ 10.8 1081;
104 105
106 107
1534 153. 1583 153.' I083 153.) 15 8 3 1534 1585 157* 155* 1534
7034 71
71 711- 71 71I.J 7114 7134 7134 721; 717S 72
12412 127
*22l2 ---2314 2314 *23 ____
*52 623; 6214 6214 5218 521* ♦6214 623. *53 -----24l2 24»* 21l2 248; 24 2414 2414 241; 24*2 2412 2453 243.,
*1 ___
433.t 433.:
4 3 I4 4 3 I4
*12
12l4
5434 643.)
*1812 19
♦6 ll 2 02
61;
*6
♦823, 83
+90 908*
8212 82*;
*1234 13
♦2812 2834
6178 02
5112 5H;
22
22
2438 243*
+80l3i« 81
*683
034
6012 6012
88I4 88I4
*1 ___
*1
4334 4334 41 44
4312 431- 4338 431;
♦121a 123* *1218 123*
5434 55
6412 64'*
ISI3 181;
*18I2 19
021a 021S 0U2 OH;
01;
♦0
01; ♦6
3314
3314 *33
33
91
♦901a 903) 91
8314 8314 8338 833*
13 13
13
13
29 2!)
2834 29
6I78 62 )lnie 61,6i8
5134 5134 5134 51»4
2U2 213,;
2 I63 22
2112 241;
2 U4 2414
8H8 811S 8138 817ie
0’>8 G=V
634
683
6012 501; 5012 5012
88 883g 8 8 I3 8 8 * 2
PHILADELPHIA
Inactive Stocks
His
*1
*4312
4314
*1218
5473
___
*1
44 *43l2 44
431; 43*2 433.
123* *121.1
55
*55
55*2
ISI4 I8I4
18*4 19
*6112 C2
*6 ll 2 62
*0
012 * 0
gi2
3278 327*
3212 33
90l2 91
♦OOI4 91
8338 833* *8.383 8334
13 *13
13*p
29 *29
291;
G1r8 61n i« 6134 61 lBi
A:k
52
52
2U2 211;
52
217*
2U 2
8 H4
247*
821,j
8212
5034
8818
503.,
883*
503.,
8 8 I4
C34
C34
*1
11;
*1.314 44
4.383 4118
*121,
55 55*4
19
IOI4
62
031;
*6
61;
*3278 33
*U014 007*
*8378 84
1.31;
*13
293*
*29
6134 62
52
52 52
22
2134 22
253*
2533 26
828S
8212 8.3
07* 63, O
~&ie
517*
51
51
881?
88*2 885*
PHILADELPHIA
Bond;
Rid
.1 0
.50
100
100
10U
50
.50
_r>u
4 :5*4
I.angt ior Previous
y e n (1911)
Highest
III >hesl
Baltimore
438 Con Gas El L A Pow.100
Do
preC ______ 100
367
2,834 Houston Oi, tr otfs-.lOO
Do
peel tr ctfs.100
2,287
Northern Central___ 00
200 Seaboard Air Line__ 100
Do
pre,!_______ 100
20
1,532 United Ry A Electric- 00
96 Jan
117 May (> 64 Jan
89 Jan
101 Jan 2 116 Apr 3
7 Mch
8 I4 Jan 3
16*8 J’ly
5334 Jan 25 72i2 J’ly 1
45 Feb
12012 J’ly 2 130 Apr 8 121 Jan
20 Jan
2212 iMch 2 27*4 Afay.4
33 Jan
45*2 Mch 14 653.| J’nelo
16l2 Jan
18*4 Jan 2 26 J’ne 20
95i2 Dec
101 Sep
10 Aug
79 J'ly
1303. J’ne
27 J’no
50 Nov
1978 J'ly
Philadelphia
American Cement____50
46 American Railways.. 50
1,220 Cambria Steel............... 00
Electric Co or America 1 0
620 E'ec Storage Battery. 100
653 Gen Asphalt tr ctfs__ 100
Do
pref tr ctfs-100
223
Keystone Telephone. 50
’ " '7 6 2 Lake Superior Corp__100
111 Lch C Sc Nav tr ctfs_- 50
48 Lehigh V allcyl______50
300 Lehigh Valley Transit 50
180 Do pref----------------50
1,844 Pennsylvania R R ___ 50
240 Phlladcl Co(Pittsb). . 50
728 Philadelphia E lcc?.. 25
8,618 Phil R T vot tr c tfs .. 50
4,355 Reading______________50
319 To no pan Mining_____ 1
6,617 Union Traction............. 50
1,179 Union Gas Impt.........5u
Nov
7 Jan lo
1
J’ne 11
42 Jan
43*8 J’nc 10 45*2 Feb 1
407 * Sep
4112 Mcft 2 4434 Men 28
l li 2 Jan
117* Feb 2 12*2 J’ly
48i2 Jan
507* j ’ne 19
5234 Jan 16
2812 Aim
18 Apr 2 33'* Feb 17
5'J34 Apr 2 73 Jan 3
68
Aug
6 ">* Dec
6 Apr 4 8*15 Jan 8
21i2 Sep
27 Feb 20 3 .3*2 J’ly 9
83i2 J’ne
877* Mch 20 91*3 J’ly l
7534 Sep
781* Feb 5 927* j an Hi
6*4 Jan
8 i2 Jan 3
13*4 J’ne 7
2.3 Jan 12 30*2 May27
18i2 Jan
59-3* Sep
OH,a Jan 27 O'Pis Apr 26
5012 Jan 11 56I4 Feb 16
48i4 Sep
||167* Jan 2 2234 J ’ne29
15*2 N ov
22*3 May 6
26 J’ly 1!:
17 Apr
74*4 Jan 11
19*4 Apr 30 G6 ,ai« Sep
6 3ie J’ly 19
8*4 Apr 15
51* J’ly
4 'J34 Feb 2S
«r2*4 Jan 26
43
Jan
8934 Apr 26
84l4 Sep
8 OI4 Jan 9
17*2 Jan
4U12 NOV
483, Feb
12*2 Jan
SO** J’ao
39*4 Oct
837* Jan
UI3 Jan
32 Feb
98 Jan
U37i» Dec
97* Oct
253* Oct
65 Feb
69*4 J'ne
13 J’ly
24*8 Aug
803 ., Feb
8*
>a Jau
6234 Aug
893* Jan
At*
PHILADELPHIA
Rid
Asl:
BALTIMORE
L16
Ph A Read 2 d 5s 1933 A-O
Cba.1 City Hy 1 t 5s’23 J-J
Ex Imp M 4s 1917.A-0
Termln l 5s g 1041.Q-F 113*2 1141* Chas Ry G A El 5s ’ 99 M-S
P W A B col tr 4« ’2 1 .. J-J 993* 9'J1; City & Sub 1st 5s 1922 J-L>
City A Sub(Was)lst 5i '48
Read Trac 1st Cs ’3 3 ._J-J
801?
Coal A C R y 1 -t Os T9 A-O
Roch Ry A L cou 5s’5i J-J 101
95
Coal & I Hy 1st -s ' 2 0 . 1-A
■Spanlsli-Am Ir 6s ’27.
1 ()012 io 1
ColAGrnv l 3 t 6 s 1916 J-j
Stan’d Gas A E 6s'26.J-D 1 0 0 *;
Consol Gas 5s 1939__ J-D
Stand Stl Wks lst5s’ 2N J-J
[J Trac Ind gen 5s T9 J-J
10234 103*4 LJn Rys Tr ctfs 4s’49-.J-J 701; 77 Cons G E A P 4 Us '35 J-J
United Rys Inv 1st coll L
Fair A Cl Tr 1st 5s'38 A-O
101*4
s f r»s 1926............... M-N 83*2 ,84 Ga A Aia 1st con 5s ’45 J-J
Ga Car AN 1st 5s g ’20-J-j
Welsbach s f 5s 1930..J-D 92
801;
__
VV1I-B GAE con 5F55.J-J
Georgia P 1st 6 s 1922._J-J
York Ilys 1st 5s 1937.J-D ___ 96 Ga bo A Fla 1st 5s ’4 5 .J-J
G-B-S Brew 3-4s '5 1 .M-S
Knoxv Trac 1st 5s '28 A-O
BALTIMORE
61*4
MaconRyALt 1st 5s'53 J-J
Inactive Stocks
831;
Md Elec Ry 1st 5s ’31. A-O
Ala Cons Coal A Iron .100
Memphis £st 1st 5s ‘45.J J
Preferred................. 100
Atlan Coast L (Conn)-lOO 269 275 Alt Ver Cot Duck 1st 5s._
10734 Canton Co ................. 1 00
138 Npt N & O 1' 1 st is'38,M-W
Georgia Sou A Fla___ 10u 35 36 Nor APort Tr 1st 5s’36 J-D
1st preferred............. 100 96
115*4
beDcs A 5s 1926___ J-J
2d preferred_______ 1 0 0 78 84
10314 1033;
Series B Gs 1926___ J-J
4*; 5
145*: G-B-S Brewing ____ .100
P tt Un Trac 5s 1997._KI
' 97’lJ 9734 Pullman Com. Ventll--100 27
Preferred_________ 1 0 0 91 92 Poto Val 1st 5s 1941..J-0
Sav Fla A West 5j *34 A-0
Bonds
Seab Air L 4s 1950__ A-O
Prices a n all “ and
10214 102*;
Adjust Os 1949___ F-A
interest"
97 07*4
Seab A Roan 5a 1926..J-J
Balt City 3 Us 19 30...J-J no
4s 1954-1955---Various 96
South Bound 1st 5s_.A-u
U El L&P lst4j<s'29 M-N
5s 1916...................M-N
Uu lty & El 1st 4s '49 M -i
Anacostia A Potoin 5s A-0 995* 100
Income 4s 1949__ J-D
AtCoast L conv deb 4sM-N 103*; 101
1123.,
Atl Coast L(Ct)ctfs 5s J-D
Va Mid 3d ser 6 s T 6 ..M-S
Ctfs of indebt 4s___ J-J
~92 93
4th ser 3-4-5s 1921-Al-s
5-20-yr 4s 1925........ J-J 92 93*4
103*;
5th series 5s 1 9 2 6 ..M -S
97l4
90*2 ■97" B S P A C 1st 4 Us ’53 F-A
Balt
Trac
1st
5s
'29..M-N
10334
IO3 I4
No Balt Div 5s 1942 J-D
8234 83
West N C con 6 s 1914.J-J
105*; Car Pow A Lo 5s 1938 F-A
WU & weld 5 s 1935..-J-J
Cent Ry cons 5s '32.-M-N
100*
Prices are all “ and
17> 2
interest’
44
85*; 863; Alt & L V Elec 4 Us'33 F-A
81 821; Am Gas As Elec 5s '0 7 .F-A
. 01.,
Am Rys 5s 1917........ A-O
Atl Gas Is* s f 5s ’60--J-J
BergAEBrew 1st 6s’21 J-J
Huntington A U ‘
Bcthleh Steel 6s 1998.0-F
1 00
Choc & Me 1st 5s 1949 .J-J
21 2114 Ch Ok A G gen 5s 1919 J-J
Insurance Co of N A . . 1 0
Con Trac of N J 1st 5s ’33
Inter Sin Pow A Chem..5u
.lu
Del Co Rys tr ctfs 4s’49J-J
_
i0 ,
Elee A Peoples Tr tr etfs_.
10.1 __
Fr Tac&ll 1st 5s 1940. J-J
. 5U
Gen Asphalt 6s 1916.M-S
__ Indlanap Ry 4s 1033..J-.J
Preferred___________5U
100
Interstate 4s 1943__ F-A
10 18 183; Keystone Tel 5s 1935.J-J
Lit Brothers.
_bo
Lake Sup Corp Inc 5s'24.0
.60
Lehigh Nav 4 Us ’ 14..Q-J
100 30
Gen M 4 Hs g 1924.Q-F
Leh V C 1st 5s g 1933.J-J
Preferred .............. 100 80
Leh V ext 4s 1st 1948.J-D
North Pennsylvania.
Conso 0s 1923____ J-D
Pennsylvania Salt— .50 109 109*2
100 ___ ___
Cousol 4 Us 1923__ J-D
Annuity 6s________ J-D
99
100
Gen cons *.s 20 03..M-N
.5 1 44 44*r
Leh V Tran con 4s '35 J-D
.5 )
1st series A 4s 1935.M-S
.50 84*; ho
Phlla Traction.
1st series B 5s 1935 M-S
.10
91;
_I
Vh MarketstEl 1st 4s'55 M-N
‘j 't
NatLH&P ser B 5s '19 J-J
109
New Con Gas 5s 1948.J-D
.50
N Y Ph A No 1st 4s’39 J-J
100
Income 4s 1939----- M-N
Preferred .
.10 H»4 111; Fa A N Y Can 5s '39.A-O
Washington-Va Ry__ 10.1 50 fill* Penn Steel 1st 5s T7.M-N
100 79 80 People’s Tr tr ctfs 4s 1943
Preferred___
F Co lst&col' tr 5s’49 M-S
100
Welsbach Co__
Con & coll tr 5s ’ 51 M-N
.50 —
—
Westmoreland Coal___
. . . . . . . . Phil Elec gold tr ctfs. A-O
Trust ctfs 4s 1949 __J-J
100
York Railway............ .5
10 io‘i4 P A E gen M 5s g '20.A O
Gen M 4s g 19 20..-A-O
Preferred _ ________ .50 33 31
•Bid and asked; no sales on this day. 1]Ex-dlx.A rights.
U$15 paid.
Cambria iron.
Rangs Since
January 1
Sola
ACTIVE STOCKS
ol die
Week (F or Bonds and Inactive
Slocks see below)
Shares
}?1 3 H p a ld .
♦$17U paid.
RLt
Ask
95
95*4
92
93*2
108
881., 89
10033
IO6 I4
1001 *
106
105
107
513.
105 106
1 00
1 00
100*4
98*4 99
100
741; 75
93*4
90
10G*2 107*4
105
94
85
C434
8834
100
9512
85*3
65
89
___
—
—
tf 0
THE CHRONICLE
[VOL.
LXXXXV.
f m r e s t m e t it a n d Hftaitterad I n t e llig e n c e .
R A I L R O A D
G R O S S
E A R N I N G S .
The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthiv returna
can be obtained,
the first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from July 1 to and including such latest week or month.
We add a supplementary
statement to show the fisca year totals of those roads whose fiscal year does not begin with July, but covers some other
period. I tie returns o f the electric railways are brought together separatelg on n subsequent page.
Latest Cross Ecrninas.
no ADS.
July 1 to Latest Date.
C urreru
Carren.
Year.
Year
Previous
Year.
Ala N O & Tex Pu N O & Nor East. T un e____
311,240
3,880,670 3,595,917
Ala & Vicksburg. Ju ne_____ 124,806
1,038,004 1,773,841
Vick Shrev & Pac •June_____ 100,902
1,389,028 1,487,367
Ann Arbor________ 1st wk July
43,848
43,848
41,591
Atch Topeka & S Fe M a y _____ 9,213,695
99,083,649 99,223,690
Atlanta Blrm & Atl 1st wk July
54,957
44,957
52,641
Atlantic Coast Line May _____ 2,898,020
30,935,738 29,290,320
Cbarles t ’ n &\VCar May _____ 150,955
1,813,639 1,798,120
Louis lien & St L M a y ____
110,311
1,184,927 1,119,037
g Baltimore & Ohio J a y _____ 8,252.995
84,279,490 80,083,295
B & U Cli Ter Hit May _____ 127.139
1.415.575) 1,333,891
Bangor* Aroostook M a y _____ 242,718
3,111,0231 2,890,065
Bessemer * Lake E May . . .(1,023,744
Boston & Maine.
May .
..'3,850.051
Bridgeton & Saco R May ____
Buff Koch & Plttsb lid wk July
Buffalo & Susq___ May ____
Canadian Northern. 2d wk July
Canadian Paclilc__ 2d wk July :
Central of Georgia.. 1st wk July
Central New Engl'u M a y _____
Cent of New Jersey. May _____
Central Vermont__ May ____
Chcs & Ohio Lines. 2d wk July
Chicago & Alton__ 2d wk July
Chic Burl * Quincy May ____ i
V Chic Great West. 1st wk July
Chic Ind & Loulsv. 2d wk July
Chlo MUw & St Paul May _____ ■
Chic Mil & PugSU May ____
rChlc & North West M a y _____i
®Chlc St Paul M & O May ____
Chicago T H & S E. May ____
Cln Ham & Dayton May ____
Colorado Midland.. May ____
b Colorado & South. d wk July
Cornwall ................ A la y _____
Cornwall & Lebanon Alay ____
Cuba Rahroad........ A la y _____
Delaware & Hudson M a y ____
Del Lack & W est.. May ___
Denv & Rio Grande 2d wk July
Western Paclilc.. May
Denver N W & Pac. May
79,311
952,105
Detroit Tol & Irout 1th wkMay
38,572
1,671,328
Detroit & Mackinac 2d wk July
22,377
40,024
Dul & Iron R ange.. May ____
690,932
0,502,451
Dul Sou Shore & Atl 2d wk July
65,862
133,718
Elgin Joliet & Kast. May
697.099
7,354,770
E1 Paso & Sou West May
017,865
0,634,538
E r ie ........................ Jay
4,834,975
51,740,311
Fairchild & N E . . . May
1,848
21,520
Florida East Coast. -May
329,594
3,897,114
Fonda Johns & Glov May
80,308
864,421
Georgia Railroad.. May
238,628
3,000,474
Grand Trun.. Syst. . 2d wk July
094,800
1,937,895
Grand Trk West. 4th wk Jne
101,260
0,251,870
Det Gr Hav & Mil 4th wk Jne
59,604
2,068,847
Canada Atlantic. 1 th wk Jne
68,365
1,964,652
Great Northern Syst J u n e ____
5,537,324
61,234,191
Gulf & Ship Island. May
100,218
1,851,228
Hocking Valley___ May _____
567,446
0,589,161
Illinois Cenv.nl___ J u n e ____
4,901,492
62,560,227
Internat & Grt Nor. 2d wk July
138,000
206,000
a lnterocnanlc Mex. 1st wk July
158,659
158,659
Kanawha & M ich.. May
208,721
2,835,634
Kansas City South. M a y ____
794,775
9,353,740
Lehigh Valley___ May
3,519,575
33.099,731
Lexington & East. May
54,547
430,228
Louisiana & Arkan. May
125,139
1.334,319
s Louisville & Nash. 1st wk July
955,875
955,875
Macon * Birm'ham June
8,844
154,995
843,273
Maine Ccnunl____ May
0.046,798
Maryland & Penna May
39,417
404,730
a Mexican Railway 3d wk June
158.100
8,391,200
Mineral Range____ 2d wk July
13,422
26,323
Minn * St L ouis..f 2d wk July
138,670
277,712
Iowa Central__ j
Minn St P & S S Ml 2d wk July 518,138 456,114 1,020,162
014,900
Chicago Dlv 1-ion /
Mississippi Central.
74,445
74,808
807,455
844.177
u Mo Kan & Texas.
400,739 451,088
892,697
897,699
Missouri Paclilc___
1,039,000 1,048,000 1,921,000 1,971,000
Nashv Chatt & St L
1,104,949 1,057,749 11,206,817 11,371.865
a Nat Rys of M ex.f.
930,208 1,215,353
930,203 1,215,353
Nevada-Cal-Oregon
12,037
6,324
12,037
0,324
N O Great Northern
145,515 146,028 1,489,826 1,555,335
N O Mobile & Chic.
203,080 145,053 1,826.881 1,688,543
e N Y C & Hud Rlv
8,701,007 8 140,205 90,564,642 92,900,996
Lake Shore & M S
.144,900 3 011,370 10,228,275 44,500,159
n Lake Erie & W .
430,054 435,702 5,103,160 5,059,989
Chic Ind & South
299,914 315,991 3,660,301 3,394,231
Michigan Central
2,521,346 2 337,916 28,725,190 27,372 041
Cleve C C & St L.
2,424,607 2 444,883 28,100,013 28,218 329
Peoria* Eastern
235,749 269,257 2,893,712 3.260 376
Cincinnati North.
93,779
92,196 1,224,571 1,146.102
Pitts & Lake Erie
1,491,288 1,235,078 14,835.309 14,383,922
N Y Chic & St L .
957,212 877,445 10,560,010 10,226,567
Tol & Ohio Cent.
425,478 373,434 4,745,872 4,600.889
Tot all lines above
21731 934 20739 483 242707 733 235075 015
Latest Gross Earnings.
n o A DS.
n eat or
Mouth.
Current
Year.
Jul/ 1 to Latest Dale.
Previous
Year.
Current
Year.
Previous
Year.
S
N Y N H & Hartf.. M a y ___ 5,482,404 5,179,600 59,105,855 50,580,574
N Y Ont & W est... M a y ___
465,280 791,108 7,730,415 8,497,460
N Y Susq * W est.. M a y ____
235,145 340,481 3,374,288 3,550,859
Norfolk Southern.. M a y ____
303,444 257,81
2,984,132 2,097,260
Norfolk & Western. M a y ___ 3,524,955 2,951,247 30,277,915 32,601,912
Northern Pacino__ May _____ 5,127,545(5,091,858 57,009,507 59.852.579
Pacific Coast Co__ Alay ____
571,839 590,06! 0,839,095 7,120,583
Pennsylvania H it .. M a y __
14076 824 13240 08o 150000 058 144312 117
Balt dies & Atlan,AIay
26,890
21,021
255,275
244,942
Cumberland Vail. May ____
270,200 234,508 2,752,039 2,781,898
Long Island......... M a y _____ 932,400 951,070 9,050,108 9,124,542
Maryl'd Del & Va May .
11,125
9,704
122,915
119,078
N Y Phila * Norf May .
327,843 207,097 3,060,013 3,073,779
Northern Central -May .
020,792 1,102,313 11,471,184 11,802,497
Phila Balt &Wash May .
1,600,591 1,055,821 17,542,140 17,440,119
W Jersey & Seash May .
500,017 511,229 5,741,042 5,582,438
Pennsylvania Co __ May .
5,115,684 4,394,358 19,058,008 17,052,765
Grand Hap & Ind May _
415,152 358,707 4,762,918 4,095,003
Pitts C C & St L . May .
3,359,404 3,100,190 37,188,072 35,824,314
Vandalla_______ May .
742,887 771,293 9,179,697 9,020,155
Total lines—
East Pitts & E. May . .
20077 712 19210 402 212944 023 200848 759
West Pitts & E May . .
9,730,900 8,722,073 103208 293 100850 292
All East *West May . .
20808 618 27933 135 310152 319 307099053
Pero Marquette___ May __
1.349,723 1,281,120 15,328,450 14,614,094
Headitg companyPhila & Heading. May ____ 3,224 ,803 4,061,254 11,517 ,114 41.841.579
Coal & Iron C o.. May ____
755 ,243 2,050,714
,707 32,212,429
Total both cos__ Alay ____ 3,980 ,040 7,017,908 32,580
74,097 ,911 74,054,008
Rich Fred & Potom Alay ........
278 ,271 241,110 2,335 ,860
,105,018
Rio Grande June__ Alay ____
76 ,049
78,757
908 239
902,279
Rio Grande South.. 1st wk July
11 ,959
10,139
11 950
10,139
Rock Island Lines.. May ____ 4,899 ,145 5,155,627 58,035 ,934 02,347,073
Rutland ................ May
302 .291 292,352 3,158,288 3,130,399
__
St Jos & Grand Isl. Alay _____ 121 ,200 142,758 1,438 ,314 1,574,807
St Louis & San Fran Alay ____ 3,378 ,409 3,301,176 38,713 ,302 39,842,154
1 Chlo & East III. Alay ____
035 ,493 1,108,308 14,008 ,995 13,801,971
Total all lines___ May ____ 4,413 902 4,409,485 52,722 ,350 53,044,126
St L Rocky Mt & P. Alay ......... 153, 324 100,782 1,819 ,138 1,938,853
St Louis Southwest. 2d wk July 232, 000 182,000
454 ,000
368,000
San Pcd L A & S L . May ......... 884, 189 851,910 8,233 ,388 7,558,885
Seaboard Air L ine.. 1st wk July 440, 231 425,057
440,.231
425,657
Southern Pad lc Co May ____ 11032 945 10010 022 120084 339 122139 802
Southern Hallway.. 2d wk July 1,157, 006 1,050,514 2,320, 080 2,193,280
Mobile & Ohio . . 1st wk July 189, 515 183,064
189, 515
183,004
Cln N O * Tex P. 1st wk July 162, 025 160,10
102, 025
160,162
Ala Great South. 1st wk July
78, 538
78, 538
75,790
75,700
Georgia Sou* Fla 1st wk July
41, 000
44,424
44,424
'll, 090
Spol: Portl & Seatt. May ____
391 317 449,210 4.407, 512 4,312,783
Tenn Ala & Georgia 4th wk Jne
3 094
2,823
110, 300
102,329
Tennessee Central.. Alay ____
145 880 138,408 1,411, 148 1,392.275
Texas & Paclhc___ 2d wk July 254, 197 243,009
494, 408
493,825
Tidewater * West May _____
0 710
9,805
89, 504
82,409
Toledo Peor & West 1st wk July
19 444
18,087
10, 444
18,987
Toledo St L & Wes. 2d wk July
68 013
81,043
129 438
114,833
Union Pacific Syst. Alay ____ 0,974 180 0,003,095 70,071 682 81,855,500
Virginia & So West. A la y _____ 157, 807 126,386 1,004, 7G9 1,201,017
Virginian_________ Alay ____
462 878 342,263 4,448 360 3,290,530
W abash................ .. J u n e _____ 2,390 320 2,502,647 28,343 707 29,884,038
Western Maryland. M a y ____
613, 813 007,345 6,G30; 244 0,593,982
Wheel & Lake Erie. J u n e ____
700, 301 590,295 7.408, 146 0,800,707
Wrlghtsv & Tennille May ____
19, 145
18,375
332, 013
310,394
Yazoo & Miss Valley J u n e ____
73 429 730,541 9,651, 421 10,817,549
Various Fiscal Years.
Current
Year.
Period.
Delaware & Hudson__________ Jan
N Y Central & Hudson Rlver.e. Jan
Lake Shore * Allchlgan South Jan
Lake Erie * Western. n ........ Jan
Chicago Indiana & Southern. Jan
Michigan Central.................... Jan
Cleve Cln Chicago & St Louis. Jan
Peoria * Eastern.__________ Jan
Cincinnati Northern ________ Jan
Pittsburgh & Lake Erie........
New York Chicago & St Louis Jan
Toledo & Ohio Central.____ Jan
Total all lines..........................
Pennsylvania Railroad .............. Jan
Baltimore Chesap & Atlantic. Jan
Cumberland Valley................ Jan
Long Island ............ ............... Jan
Maryland Delaware &Vlrglnla Jan
N Y Philadelphia & N orfolk.. Jan
Northern Central.................... Jan
Philadelphia Balt * W ash ... Jan
West Jersey & S eashore..__ Jan
Pennsylvania Company ________ Jan
Grand Rapids & Indiana___ Jan
Plttsb Clncln Chic & St Louls. Ian
Vandalla.................................. Jan
Total lines— East Pitts & Erie Jan
West Pitts &Erle Ian
„
All lines E & W . Ian
Rio Grande Junction_________ Deo
R u tla n d __
Jnn
Texas & Paclflo.......................... Ian
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
to
to
to
to
to
to
to
to
to
May
May
May
May
Alay
Alay
Alay
May
May
31
31
31
31
31
31
31
31
31
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
Alay
Alay
Alay
Alay
Alay
Alay
Alay
May
Alay
Alay
Alay
Alay
Alay
Alay
Alay
May
Alay
Alay
Alay
May
May
July
31
31
31
31
31
31
31
31
31
31
31
31
31
31
31
31
31
31
31
31
31
14
Previous
Year.
S
8,443,367
39,903,315
18,793,076
2,117,540
1,580,324
11,004,029
11,970,590
1,322,067
441,790
5,614,845
4,093,815 4,437,214
1,915,499 1,082,589
105558 223 99,593,091
07,847,928 62,403,093
80,088
80,200
1,251,990 1,145,382
3,815,752 3,650,428
37,059
38,018
1,338,034 1,290,740
4,933,1 10 5,202,138
7,747,234 7,480,080
2,080,703 2,025,255
21,587,428 10,540,734
2,070,413 1,009,032
10,000,353 14,051,012
3,970,300 3.973,709
03,874,044 87,923,014
44,815,087 ■10,881,427
138680 732 128805 042
423,872
424,148
1,313,384 1,206,909 •
8,284,433 7,427,179
7,833,716
41.418,443
20,012,321
2,200,514
1,710,000
12,020,115
12.100,584
1,239,708
510,578
AGGREGATES O FG& OSS EARRING S— Weekly a n i Monthly.
Weekly Summaries.
4th
1st
2d
3d
4th
1st
2d
3d
4th
1 st
week April
week Alay
week May
week Alay
week May
week June
week June
week June
week June
week July
(41 r o fis )___
(42 roads)___
(40 roads)___
(43 roads)___
(41 roadsi___
(41 roads)___
(4 1 roads)___
(41 roads)___
(41 roads)___
(40 roads)___
Cur'nt Year Prev's Year Inc. or Dec.
i
18,315.095
13,332,998
13,539,914
14,007,892
19,535,402
13,381,042
13,839,047
14,073,731
18,264,980
13,143,297
S
15,089,657
12,078,139
12,337,158
12,432,057
17,072,712
12,535,087
12,984,041
13,108,005
17,905,803
12,818,451
S
+2,025,438
+ 1,254,859
+1,202,750
+ 1,575,235
+ 1,562,690
+845,955
+855,000
+ 005,660
+290,117
+324,846
%
16.73
10.42
9.75
12.67
8.70
0.75
6.59
6.90
1.07
2.53
Monthly Summaries.
Mileage. Cu r.Y r.
Sspte-nber..2U.414
October __ 2 45,833
November _.23 4,2(.J
December ..238,361
January ...237,888
February ..2 3 5 , 0 x2
A larch____ 238,218
A p r il...........230,722
A lay............. 235,410
June .......... 89,764
ICur'nl Year Prev's Year Inc. or Dec.
{
240,325 257,250,762
241,321 260.061,129
231,50 l 241.343,763
235,035 233,011,912
234,402 210,70 1,771
233,191 218.031,091
23 1,392 237,504,332
233,057 220,078,465
231,597 232,229,301
88,193’ 08,820.079
Prer.Yr.\
$
250,748,775
203.037,350
243,11 1,338
232,275,177
213,145,078
197,278,93!)
224,008,054
210,140,214
220,184,000
0 1,007,757
+ 507,987
+ 2.420,773
— 1,707,025
+ 1,339,735
— 2,440,307
+20.752,155
+ 12,055,078
+4,538,251
+ 6,014,698
+ 1,152,922
& £ * &’VndfiSS RRana? ‘“ oISS«
Commerce Commission. / Includes^Evansville™ Terre Hkute a n d E v ^
Mason C ity & Ft Dodira and Wisconsin '
* Pacine* , r e M ' ‘‘J bo,th nYeaiis- n Includes the Northern Ohio RR. V Includes earnings ot
oaa international
International irom
from’ ju
lv loio^
res ,Lclulsvl 1° * Atlantlc
andrevenues,
Cic Frankfort
* Cincinnati.
I Includes the Alexfi
oaa
July
lo io . u
n In‘eimint
includes tho
the Texas Central. _clu
«_lncludcsjiot^only
operating
blit also
all other receipts.
T H E C H R O N IC L E
July “0 193 2.]
Latest Gross Earnings by W e e k s — In the table which
follows we sum up separately the earnings for the first week
of July. The table covers 40 roads and shows 2 .5 3 % m Firsl week of July.
1912.
Increase. Decrease.
1911.
S
$
78,538
75,796
Alabam a Great Southern--------43,848
41,591
A nn A r b o r ----------------------------- 54,957
52,641
A tlanta Birmingham & Atlantic
167,694
195,816
Butlalo Rochester Sc Pittsburgh
391,900
340,500
Canadian N orthern------------------Canadian Pacific----------- ---------- 2,571,000 2,096,000
247,400
231,100
Central of Georgia--------------------495,723
520,054
Chesapeake & O h io------------------245,718
271,175
Chicago & A lt o n ------------- --------223,296
234,514
Chicago Great W estern------------116,386
116,019
Chicago Ind Sc L ou isville...........
160,162
Cine New Orl Sc Texas P a cific..
162,625
237,649
Colorado S outhern..................
209,368
435,500
Denver & Itio Grande............
428,700
23,647
Detroit Sc M ackinac_______
23,995
67,856
Duluth South Shore Sc Atlantic
64,824
44,424
Georgia Southern Sc Florida____
41,690
Grand Trunk of Canada______ 1
943,095
Grand Trunk W estern______ 1 1,012,051
Detroit Grand Ila v & M ilw. I
Canada A tla n tic ................
)
128,000
159,000
International & Great Northern
158,659
170,440
Interoceanlc of M e x ic o .......... ..
955,875
963,350
Louisville & N ashville— .........
12,901
10,789
Mineral R ange_________________
139,042
160,190
Minneapolis Sc St Louis----------1
Iow a C en tra l_______________ /
458,852
502,024
Minneapolis St Paul &S S M _.
425,958
446,610
Mlssour Kansas Sc T exa s---------923,000
882,000
Missouri Pacific-----------------------189,515
183,064
M obile Sc O h io--------------------------930,208 1,215,353
National Rys of M ex ico----------12,037
6,324
Ncvada-Callfornia-Oregon -----10,139
11,959
R io Grande Southern--------------222,000
186,000
St Louis S outhw estern-----------440,231
425,657
Seaboard Air Line--------------------Southern R ailw ay--------------------- 1.163.08C 1,142,766
240,301
250,126
Texas & Pacific-----------------------18,987
Toledo Peoria & W estern............
19,444
61,425
63,190
Toledo St Louis & W estern____
*
2,742
2,257
2,316
45,400
475,000
16,300
13,143,297 12,818,451
Net Increase (2.53% )
2,463
______
348
68,956
$
28,122
24,331
25,457
11,218
367
28,281
6,800
3,032
2,734
—
31,000
1 1,781
7,475
______
2,112
21,148
43,172
0,451
5,713
1.82C
36.00C
14,574
20,314
457
815,687
324,846
20,052
41,000
285,145
_______
_____ _
______
______
9,825
1,765
490,841
.
In the following we give all statements that have come in
the present week covering a later or a different period from
that to which the issue of the “ Railway Earnings Section
is devoted. W e also add the returns of the industrial com
panies received this week.
c o m p a n ie s.
Birmingham Sc S E _____ May
July l to May 31______
Nevada-Cal-Orcgon b __ May
July 1 to May 3 1 ______
R io Grande Ju n ction __ May
Deo 1 to May 31............
W heeling Sc Lake E rie. .June
July 1 to June 30______
ross Ear-nines-----Current
Previous
Year.
Year.
$
$
1,622
5,253
39,713
31,561
43,530
31,832
339,888
306,641
76,649
78,757
424,148
423,872
590,205
706,361
7,498,140 6,800,707
------ Net Earnings------Current
Previous
Year.
Year.
$
% 36
1,620
13,347
15,622
11,697
20,585
93,936
108,244
n23,620
«22,994
nl27,214
n l2 7 ,162
224,532
256,184
2,450,811 2,050,44
IN D U S T R IA L C OM PAN IES.
AmCj J n Il&to CJuneI3 o T . CO-20,327,705 18,203,624 18,062,203 16,421,163
A ’J a\i&l'r to M°ayl M 1 C°.S>.T79,788,638 72,710,093 23,277,446 21,243,191
16,933
19,370
33,717
33,102
A tlantic City E lectric..J u n e
86,035
104,723
179,769
196,641
Jan 1 to June 30______
213,475
237,022
398.622
Edison El III (Boston) ..J u n e
428,835
July 1 to Juno 3 0 ______ 5,787,344 5,257,913 3,415,780 3,014,637
127,109
131,240
368,395
Kings Co El L t & P .a .-J u n e
398,860
866,725
967,670
Jan 1 to June 3 0 ........... 2,598,854 2,307,329
6,206
9,238
20,005
Muncle Electric L ig h t..J u n e
28,501
110,497
150,353
July 1 to June 30______
350,076
293,879
11,601
13,270
26,356
R ockford E lectric-----------June
28,374
80,017
97,867
Jan 1 to Juno 30---------207,644
191,729
25,501
28,151
Scranton E lectric............. June
55,891
52,352
396,520
433,573
July 1 to June 30............
765,228
703,720
7,239
8,670
W heeling E lectric-----------June
18,272
16,461
98,456
121,544
183,427
July 1 to June 30---------242,696
a Net earnings here given arc after deducting taxes,
b Net earnings here given are before deducting taxes.
n These figures represent 30% of gross earnings.
Interest Charges and Surplus.
— Int., Rentals, & c.— — P al. of Net E arns.—
Current ■ Previous
Current
Previous
Year.
Year.
Year.
Year.
5
$
$
$
5,946
5,404
*15,430
*7,165
N evada-Cal-Orcgon. _. .M ay
60,482
48,577
*52,626
*54,083
July 1 to May 3 1 ---------8,333
8,333
14,661
14,661
R io Grande J u n c tio n ...M a y
50,000
50,000
77,162
77,244
Dec 1 to May 3 1 ...........
Roads.
IN D U S T R IA L COM PAN IES.
A m crT cl & T cl (H olding C o)—
Jan 1 to June 3 0 ---------- 2,761,119 2,865,885 15,301,084 13,552,278
Amer Tel & Tel (Associated Cos) —
Jan 1 to May 31______ 5,473,980 5,727,507 17,803,466 15,515,684
10,843
9,207
7,726
8,527
.June
52,990
42,791
43,244
51,727
Jan 1 to June 30.
*62,145
*62,065
71,862
72,230
Klngs Co El Lt & P ow . .Jun
.June
e
*501,694
*559,928
395,541
433,415
2,787
587
5,619
.June
0,451
76,292
53,193
57,304
74,061
July 1 to June 3 0 .
4,112
5,4 55
7,489
.June
7,815
36,563
50,911
43.454
46,949
Jan 1 to June 30.
14,405
15,899
11,096
.June
12,252
269,649
290,402
126,871
143,171
2,260
4,631
.June
4,039
4,979
81,155
76,079
45,465
17,301
July 1 to June 30
* A fter allowing for other Income received
EXPRESS COMPANIES.
— Ju ly 1 to Jan. 31—
-J anuary1911.
1912
1912.
1911.
S
.$
5
Western Express C o.—
$
440,600
606,482
78,007
68,075
Express revenue____________
1,994
1,878
379
508
Mlsce . transporta, revenue.
5,436
9.983
818
1,359
N on-transportation revenue.
Gross receipts from o p e r ..
Express privileges— D r_____
79,675
38,583
G9.274
38,169
678,344
345,579
448,031
257,649
T ota operating revenues. .
Maintenance ________________
Traffic expenses____________
Transportation expenses____
General expenses___________
41,092
966
2,492
32,502
2,901
31,105
628
4,062
31,636
3,427
332,764
7,252
21,169
247,547
23,994
190,381
3,324
14,156
161,571
19,804
T otal operating ex p e n se s..
38,863
39,755
299,963
198,851
Net operating revenue____
One-twelfth of annual taxes.
2,228
853
— 8,050
407
32,801
5,398
— 8,474
3,945
Operating incom e_________.
Mileage of all /Steam roads..
linescovered /oth er lin e s..
1,375
4,891
4
— 9,058
4,765
4
27,402
— 12,420
ELECTRIC
R A IL W A Y
AND
TRACTION
Latest Gross Earnings.
Net Earnings Monthly to Latest D ates. — I n o u r “ R a i l w a y
E a r n i n g s ” S e c t i o n o r S u p p l e m e n t w h ic h a c c o m p a n i e s t o - d a y ’s
i s s u e o f th e “ C h r o n i c l e ,” w e g i v e the M a y
f ig u r e s o f ea r n in g s
o f all s te a m ra ilr o a d s w h ic h m a k e it a p r a c tic e to i s s u e m o n t h l y
r e tu r n s o r a re r e g u ir e d to d o s o b y the I n t e r -S t a t e C o m m e r c e
C o m m is s io n .
T h e re a d e r i s re fe r r e d to that S u p p l e m e n t f o r
f u l l d e ta ils r e g a r d in g the M a y
r e su lts f o r a ll the s e p a r a te
Roads.
171
Nome of
Road.
Week or
Month.
Current
Year.
Previous
Year.
COMPANIES
Jan. 1 to latest date
Current
Year.
S
$
American R ys C o------ May _____ 398.320 399,207 I ,
25,207
115,009
26.660
Atlantic Shore Ity — May _____
681,116
cAur Elgin Sc Chic R y May _____ 159,262 152,751
262,567
4 1,750
53,790
Bangor R y & Elec Co May _____
13,901
10,110
59,090
Baton R ouge Elec Co M a y _____
35.371
165,157
33,677
Binghamton Railway M a y _____
10,070
9,759
39.603
Brock & Plym St R y . May _____
Bklyn Rap Tran Syst M a rch ____ 1888,677 1806,278 5,435.492
28.578
27,651
131,50
Cape Breton Elect Co May _____
32,682,
27,900
204.330
Carolina Pow & Lt Co J u n e _____
51,435
48,639
144.640
Cent Park N & E Rlv M a rch ____
77,702
80.698
358,246
Central Penn T ra c— May _____
409,081
77,738
88,888
Chattanooga R y Sc Lt May _____
129.553
33,138
33,673
Cleve Palnesv Sc East May _____
435,17
96,484
Clev Southw & Colum May _____ 100,777
214,168
41,418
43.372
Columbus (Ga) El Co May _____
Commonw P, R y & L May _____ 4 85,42 9 422,709 2,492,911
301,181
Coney Island Sc Bklyn M a rc h ------ 104,745 103,575
699.141
132,585
Dallas Electric C orp. May _____ 150,06
Detroit United R y — 2d wk June 221,982 197,103 4,797,17',
147.238
50.962
53.353
D D E B & Batt(Rec) M a rch ____
450,536
98,007
96,050
Duluth-Superior Trac May _____
954,43(
East St Louis & S u b . M a y _____ 196,824 193,181
312,42.
54,161
59,831
El Paso E lectric......... May .........
53.186
243.23:
65.227
Falrm & Clarks Tr Co A o r l l .........
397.111
42dStM A SN Av (Rec) M a rch ____ 141,960 119,602
751,99
Galv-Hous Elec C o .. M a y ______ 168,519 128,831
98,137
484.641
Grand Rapids R y C o . May ......... 102,627
47,201 1,345,15.
48,533
llavana Electric R y . Wk July 14
tlonolulu Rapid Tran
227,77.
41,337
46,271
& I.and C o_______ May . . .
117,23
24,107
24,088
Houghton Co T rac Co Ma y _____
Hudson Sc Manhattan M a rch ____ 455.691 389,729 1,345,601
Illinois Traction C o .. May _____ 577,021 535,213 2,930,88.'
2806,389 1658,586 I I ,
Interboro Rap Tran. April . .
250,8
47,625
52,51;
Jacksonville Trac C o. May .........
466.331
Lake Shore Elec R y May _____ 107.140 105,322
39.631
13,927
14,000
Long Island Electric M a rch ____
Mllw El R y & Lt C o. A p r il......... 448,760 395.571 1,780.574
337,357
76,945
88.390
Milw Lt, l i t & Tr C o. A p r il_____
663.69
168.976 161.228
Nashville By & Light April . .
98,211
22,006
34.376
N Y City In te rb o ro .. M a rch ____
77,371
27,124
28,864
N Y & Long Is! T rac. M a rch ____
272.141
89,936
96,564
M
a
rch
____
N Y Sc Queens C o__
New York R ailw ays. A p r il_____ 1157,654 1120,081 4,397,511
66,57
15,136
15,561
Northam Easton Sc W May .........
North Ohio T rac & Lt May _____ 255,104 228,693 1,100,375
650,371
North Texas Elec C o. May ......... 148,060 136.227
13,352
3,692
5,137
Ocean Electric (I, I ) . M a rch ____
116,321
21,417
21,350
Paducah Trac& Lt Co May _____
114,217
23,844
24.141
Pensacola Electric Co May _____
Phila Rap Trans C o .. May _____ 2044.796 1972,348 9,365,958
Port (Ore) R y.L & P C o. May ......... 543.813 527,931 2,669,653
2,742,918
PugetSd T r a c .L t* P . A p r il_____ 669,409
70,699
22,563
24,745
Richm ond Lt & R R . M a rch ____
R io de Janelfo Tram
Light Sc Power C o. M a y _____ 1215,837 1096,947 5.764.134
St Joseph (Mo) R y .L t
473,233
88,759
94,248
H eat & Power C o. May _____
Sao Paulo Tram ,L& P May _____ 376,501 276,579 1,844,549
298.007
56,777
63,52-J
Savannah Electric Co May _____
210,402
65,049
73,749
Second Avenue (Rec) M a rch ____
27,677
8,619
10,074
Southern B oulevard. M a rch ____
107,049
20,528
18,318
Sou W isconsin R y Co J u n e _____
49,329
16,098
17,482
Staten Isl'd M idland. M a rch ____
308,227
55,302
63,36
Tampa Electric C o .. May .........
910.318
Third Avenue (R e c ). M a rch ____ 314.012 290,411
Trl-CIty R y & Lt C o. May _____ 229.424 207,212 1,203,603
183,360 4,080,055
Twin City Rap Tran 1st wk July 166.46
Underground Elec Ry
of London—
Three tube lines__ W k July 13 £12,600 £13,000 £391,995
Metropolitan Dist W k July 13 £12,355 £11,693 £353,450
£7,836 £174,483
United Tram w ays. W k July 13 £7,327
London Gen’ l Bus Wk July 13 £61,481 £43,916 £1,334,056
540,976
Union ( R e c ).............. M a rch ____ 189,306 168,446
275,795 256,574 1,478.605
U nlonR y.G & E C od ll) May ____
United R ys of St L ._ May ____ 1083.014 1053,826 4,901.759
691.754 657,176 2.012.427
Unlted R R s of San Fr M a rch ___
124.835
42.350
43,793
Westchester El (Rec) M a rch ____
157,858
50,517
55,525
Yonkers R R (R e c). M a rch ____
71,288
17,482
17,765
Youngst Sc Ohio Rlv April ._
c These figures are for consolidated com pany.
Previous
Year.
1,775,041
871,872
103,365
639,835
2)5,069
46,304
146,440
39,541
5,142,745
124,708
173,249
140,853
337,550
368,040
127,953
420,530
196,026
2,196,470
294,165
642,645
4,255,251
145.360
438,851
905,984
281,565
208,612
339,046
577,359
451,713
1,273,031
197,452
117,528
1,138,396
2,714,140
0,494,692
135,86.
245,427
444,636
38,746
1,575,886
298,824
631,374
62,499
74,761
250.082
4,314,224
59,730
977,579
638,943
9,957
105,835
114,108
8,895,902
2,560,045
67,060
5,035,809
435,301
1,401,695
270,338
185,929
24,202
95,591
46,193
277,974
841,262
1,101,449
3,956,775
£398,110
£342,187
£180,234
£1,027,629
487,083
1,281,041
4,794,949
1,873,075
119,020
144,289
68,482
Electric Railway Net Earnings.— The following table gives
the returns of E LE CTR IC railway gross and net earnings
reported this week:
-Net Earnings
7ross EarningsPrevious
Previous
Current
Current
Year.
Year.
Year.
Year.
Roads.
$
5
S
%
8,221
32.682
27,900
10,310
Carolina Pow Sc L igh t..J u n e
63,574
204,330
71,421
173,249
42,020
55,602
105,059
95,260
Pacific Power Sc L t .a .-J u n e
553,423
1,208,153 1,155,520
574,105
8,099
5,402
21,417
21,350
Paducah T ract Sc L t .a -.M a y
41,304
31,938
116,321
105,835
a Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes.
Interest Charges and Surplus.
Pacific Power & L ig h t..J u n e 23,671
29,441
333,123
254,773
J u l y 1 to June 30............
Paducah T ract 8s L t . . — May
6,256
5,691
Jan 1 to May 31......... 31,250
28,804
* A fter allowing for other Income received.
31,931
240.982
dof 794
088
12,579
298,650
2,408
12,500
1 7 2
T H E C H R O N IC L E
A N N U A L REPORTSo
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
of June 29.
The next will appear in that of July 27.
Third Avenue Railroad Co., New York.
{ F i n a l R e p o r t o f R e c e i v e r s h i p , J a n . 12 1908 to D e c . 31 1911.)
In his final report to the Court, Receiver Frederick W .
Whitridge, under date of June 22 1912, wrote in substance:
~ R eceivership.— I was appointed receiver o f the Third Avenue road on
Jan. 12 1008 and of the other roads on M ch. 31 in the same year. The (ten
oral condition of all the properties was as bad as it could have been
As to the Dry Dock East Broadway & Battery R R . C o., a contest still exsts between a com m ittee representing $1,100,000 of so-called certificates "of
indebtedness o f that road, and the Third A venue com pany, which owns
$1,800,000 o f the notes of the D ry D ock road, and it will probably be some
months before the petition for m y discharge can be presented in that re
ceivership. E verything has, how ever, been settled excepting this m atter
B uildings.— All of the buildings referred to in m y reports of May 9 1908
and Jan. 1 1911 to the bondholders have been put in thorough order
I
have been unable to dispose of the Bayard St. property. All have been
furnished with the best o f lire protective apparatus and the cost of insurance
has diminished from some $60,000 to about $38,000 a year, and the nronertv
Insured has materially increased.
y
*
CaJ s C ~ 1 bave s o ld o r broken up m ost of the cars turned over to me by
the Metropolitan receivers, and have purchased 75 28-foot box cars 50 12bench open cars. 150 28-foot box cars, P -A -Y -E type, and 479 convertible
cars; total. 754: and I have entirely rebuilt 334 cars. I have also buHt or
purchased 85 storage battery cars, which are used on the Dry Dock road and
on the 110th St. line. These cars have proved econom ical and popular.
I here is no longer a horse car on the Third A ve system
T ra ck .~ 1 have put the track in workable order, but the recurrence of
corrugations upon the new rails now being supplied caused me to delay
com pleting this w ork.
y
W ith the concurrence of the reorganization com m ittee, I have applied
for several new franchises and have constructed the following lines of railway
(m ostly added to the Union R y . and its subsidiary, the Bronx Traction Co.) ,
all double track (length in feet):
•
Loop at F ort George, a great operating convenience, a b ou t________ 1.500
A similar loop at W est 130th S t. Ferry [length not stated— E d.], say__ 1,500
Clason P oint Line, W estchester A v . along Clason P oint____________ 12 500
fror?> 3n Av/ t0 Southe>‘n Boulevard (Zoological Garden) 3,’600
207th St. from Bailey A v . westerly to Broadway, com pleting cross•
town line to Zoological Garden_____
.
4 800
r e n h S t. Crosstown Line, from Jerome A v . and 167th St'"w esterly ’
along 167th, 168th and 169th Sts. between Southern B ou leva rd ..10,600
Ai ad Ison A v . o rld p c___________ _______
‘A*odd
Sou thernBoulevard westerly,'via' new bridgVac'ross
’
the Harlem River to 145th S t., and thence to Broadway
14 400
0 ,L ^ at! W^ from 230th St. southerly to 225th St. to proposed e'n_ _
j ggg
t trance to baseball ground__________ . .
S t. A nn’s A v e . extension_________111111111111111111111111111111 si580
Total (supplied b y E d .)................................................ ..................... ........ 61,384
Franchises have also been obtained in the name of a new com pany for
operation over the Qucensboro Bridge, and the line is now In operation.
Extensions Under Construction or Awaiting Consent of Property Owners.
On 155th S t. from the viaduct westerly to B roadway, northerly on
Broadway to 157th S t., easterly on 157th S t. to Amsterdam A ve
' 4 300
and southerly to 155th S t_______________ ________________
On Boscobel A ve. westerly across Washington Bridge to B roadw ay” a n n o
230th St. from Bailey A ve. to Broadway
”
’ onn
Second track on Fort Schuyler R o a d
____ _______III” ! ” ! ” ” 5 1 0 0
Franchise Taxes.— After the decision of every point in controversy bv
th.?1C?Jlrt ,o f A PPeals
respect to these taxes, and after long negotiations
with the city authorities, I paid all the franchise taxes duo for the past ten
years. A fter that was done, the State Tax Commission continued to aDpraisc the value o f the franchises of the Third Avenue road at the same fig
ures at which they were appraised at the beginning of the nine years’ litlgation and X have been plunged into new litigation over the franchise taxes
Claims.— The large claims made against the Metropolitan b y me and bv
them against me, were finally com prom ised, and litigation which would cerb y viyrtucVo°f th te lttle m e n ”
thUS a vcrted ’ 1 received about $200,000
Benefit Association.— A benefit association has been established among
the permanent force, the companies contributing $1 for everv dollar twirl
in by the men on a membership of over 80% of the permanent force. The
association has now accumulated $48,156, invested in N. Y . City stock
and it has given relief in 1,381 cases and'free medical advice in over 5 000
Instances, and has paid insurance upon the death of 30 em ployee?. For the
use or the association, I have constructed at 65th S t., 130th S t., West Farms
and Corlears S t. club room s with a lunch counter, library and shower baths
Expenditures.— These have been met from the net earning,sfcof the rail
way anil from the proceeds o f the sale o f receiver’s certificates; $2,500 000
o f which were finally paid by the reorganization committee. I append a
brief statement of the total amount so expended by me.
Earnings.— In respect to these I m ay say, when I took the property
it wasapparently earning about $1,000,000 a year. It is now earning, net
after all proper deductions have been m ade, upwards o f $2,000,000.
’
. 1^ntproveinents. Additions, New Equipment, & c.. During Receivership.
(1) I nird Avenue RR. [rolling stock, net, $3,380,145; office buildLn.V ,cn f ou.s®si f ? b‘ sta 11°ns• * c - $681,481; track work. A c..
A4i,23n ’ 6'10’ i,2) u,nion RiJ- (sub-stations, shops,
,7 $398,553; Bronx Traction Co. and other extensions,
rolling stock, $76,770], $1,242,7.)(>, (3) 42d S t. Man. A St. N. A ve. [rolling stock, $477,615;
caniouse, $159,296; track work, $97,674], $734,585; (4) Dry
‘sv R --R/5 rr°llingstock. $141,822; buildings, $171,
530.’ Vr5£.,f* A ° - 511,000], $324,361; total to Dec. 31 1911,
end of Third Avenue R R . receivership____
S6 534 342
expended for Improvements, A c., since ja n . 1
’
R y - t0 MtW 1 1912. $28,360, and 42d St. Man. &
St. Mich A v . R y . to Mch. 1 1912, $14,227 (to end of receiver
ship of those cos.); Dry Dock E. B. & I). R R ., still in hands
of receiver, to May 1 1912, $57,322 ._
99 909
Franchise" taxes 11 ”
I; : j i ; ; i ; i ; ; ; i ; ; ; ; ; ; : : ; ;
;
5i ieee .’ eee
_
^ _
_ $8,300 917
Giand tota l-------------------------------------------- _
Of this total, 52,500,000 was provided from the sale of receiver’s certifi
cates and the balance from the surplus earnings.— V . 95, p . 112.
Illinois Traction Company.
31 1911.)
The rePorL signed by W . B. McKinley, Pres., and H . E .
Lnubbuck, Vice-Pres. Executive, says in substance (com
pare map, A c., pages 23, 24 and 25 of “ Elec. R y. Section’ ’):
{ R e p o r t f o r F i s c a l Y e a r e n d in g D e c .
sat,sfactory progress has been made in all departments
The gross revenue was derived from the following sources:
City street railways! I ! ” ' 28 27% IsrTkm8h™ tin i ......................... , ,
E lectric lighting and p o w e r ..21.35% |Miscellaneous*
I !!!." !
Z'[
^ 902,22i 2 P r a a ' ao^ o o f $684,183 over 1910.
2?hJ5.a! £ ,nsr8 were $2.763,58°, or an increase of $210,170. The fixed
?«awin»hssssh5xaCS 0f. th, ° ulbuld.1F y companies amounted to 51,885,221
leaving $883,359, out of which $318,276 was taken to pay four quarterly
dividends on our pref. stock, leaving a surplus for the year of $565,083.
[VOL. LXXXXV.
i « ^ a . ^ o t *1. s^ 1? Il.1l ^ cou nt J h.crerorc stood on Dee. 31 1911 at $2,329,502,
Including $1,764,420 brought forward Dec. 31 1910. There was appropri
ated for depreciation (in addition to $762,864 charged to operating account
Intenanee, renewals and betterm ents). $250,000, and for DQpd dis1911,1 $1 988 233ed cornpanlcs’ $91*2« » . leaving to be carried forward for
Interurban Lines.— The terminal facilities in St. Louis includin'' the
? f? h a«nHS t
i I ‘sslsfs *PP1 H lvcr aad the passenger and’ freight station
at. 12th and Lucas streets, have now been in operation for a full vear and
ave contributed to Increase the traffic in and out o f St. Louis
The belt
lines around the cities of Granite City, Edwardsvllle, Springfield and
Decatur, which were thrown open for traffic this year, have permitted the
com pany to handle through freight in train-load units. The econom ical
handling of this freight, which is constantly increasing, is the present
operating problem confronting us. Connections with the steam railroads
are being made, while sidings and Increased facilities at the terminals are
p a d u a lly being extended. A lready several im portant factories have
located along our tracks; during 1911 ten elevators were added and the
m ovem ent of grain has naturally been increased.
„ , ^ v,cn tr dv,c mlles o f. alternating current, track circuit, autom atic
electric signals are now in successful operation, being canal to the most
advanced type installed on any steam railroad in the United States.
T b c year 1911 was entirely free from accidents to passengers.
City Street Railways — The earnings of the street railway lines have shown
steady im provem ent. The rebuilding of portions o f the street railway
track during 1910 and 1911 in Bloom ington, in Decatur and in Peoria has
increased the com pany's facilities for handling traffic.
Electric Lighting and Power.— N ext to the Interurban, the electric light-
creases in all other departments, the receipts from electric lighting and
from power were 21.35% o f the gross revenue. W o feel that this depart
ment should show even better results In the future. The generating ca
pacity is now considerably ahead of the ordinary needs for power.
Gas Lighting and Steam Heating.— These departments, although not pro
ducing as large returns as the others, are nevertheless Important from the
standpoint o f profit. The output of gas is steadily increasing.
Maintenance and Depreciation.— 'T he physical condition of ail the prop6 ™ C0Jltr ° ed bas been maintained in a high state of efficiency, and
14.7/u of the gross receipts was expended for this purpose, which includes,
as usual, a substantial sum written oir for depreciation, A c.
General.— During the year 1911 the fixed charges increased
$J48,o34; this largely represents the interest on the Investment made by
finC
„„COfmpa,n^
bridge and terminals Into St. Louis and in the several belt
referred to above. These additions and improvements
w cie turned over to the operating department either at the close of 1910
or early in the present year, and the interest for a full year on the securities
issued has now been deducted from the net earnings for the first time
Qona SThbe^D an ,nc.rcase 111 thc dividend charges on the pref. stock
.Lfi41 ’9? 0;
Lhc *ncrcasc in net earnings for 1911 over 1910 was not quite
sufficient to absorb all of these additional charges of $393,000, w h lc h a ccounts for a decrease in the year’s surplus as com pared with 1910, when this
large interest sum was chargeable to construction account. The directors
nowever, consider this a very satisfactory showing. The increase in the’
fixed charges for 1912 and for the years to com e will only be very moderate
in am ount, as a large portion o f the Improvements and ctxensions necessary
In every growing concern can be provided out of the yearly surpluses.
[Sec S t. Louis Springfield A Peoria R R . on another page.]
RESULTS FOR CALENDAR Y E A R S .
Gross earnings—
1911.
1910.
1908.
1909.
Interurban __________ $2,864,793 $2,440,592 $1,980,779 $1,847,181
Local street railw ay. .
1,950,880
1.896,587
1,754,893
1,626,797
G as---------------------------383,325
357,315
293,072
277,085
Electric light & power
1,473,937
1,322,581
1,161,128
1,041,761
Steam h e a tin g ______
197,738
174,822
106,000
158,387
M iscellaneous..............
31,548
26.140
7,511
14
Total gross earnings____$6,902,221
$6,218,037 $5,363,383
$4,951,425
Operating exp e n se s____$3,867,860
$3,441,100 $2,874,3401 $2,683,198
General & overhead exp .
83,700
38,595
43,100/
Taxes ...............................
182,071
165.932
146,001
122,140
Total oper. expen ses. $4,133,641 $3,665,627 $3,063,491 $2,805,338
Net e a rn in g s.....................$2,768,580 $2,552,410 $2,299,892 $2,146,087
P. c. of operating e x p . .
(59.88)
(58.95)
(57.12)
(56.66)
Less net earnings o f Des
Moines and Topeka
prop, prior to purchase
_________
54,183
372,628
401,590
Total net revenue____$2,768,580
$2,498,227 $1,927,264 $1,744,497
Deduct— Int. on b d s.,A c. $1,885,221
$1,536,687 $1,258,050 $1,220,537
Dividends on pref. stock
318,276
273,286
259,146
217,116
Total d e d u ctio n s ------ $2,203,497 "$ 1,809,973
$1,517,196 $1,437,053
Sutf rp!u,s.Lnfi?m
e- $365,083
$688,254
------------.
. . _ oouu.uoo
«jooo,oij<i
$4iu,uey
$306,844
$410,067
° ^ A ^ eK
ye.a rcn d cd b),c c •21 1911 there was expended for maintenance,
renewals and betterments the sum of $1,012,864, being 14.7% of gross earns.
BALANCE SHEET DEC. 31.
1911.
1910.
1911.
1910.
S
Liabilities—
$
S
S
14,728,571 15,308,021 Preferred s to c k ... 5,304.600 5,304.600
=.2,170,584 1,541,561 Common s to c k ... 9,968,700 9,964,800
Due by sub. co s ..
530,081
391,712 Accr’d Int. A diva.
Accts. A notes rec.. 285,549
332,290
of controlled cos. 311,773
264,370
Stores on hand__
247,169
232,820 Accts.A notes pay.
538,231
716,926
208,712 Surplus.................*1,988,233 1,764,420
179,583
18,141,537 18,015,116
Total .......... -18,141,537 18,015,116
„ ‘ After deducting $91,269 for discount on bonds of controlled companies and
$2o0,000 for depreciation.
INDEBTEDNESS OF PROPERTIES CONTROLLED DEC. 31 1911.
(Interest 5% except as othcrwlso marked.)
Eonds—
Outstanding.
Bonds —
Outstanding.
Bloom. Dec. A Cham. R R.
Peoria Lincoln A Snr. Tr. Co.
S900.000
first refunding mtge___ $1,496,000 Peoria Ry 1st A ref. M........ 2,335,000
General mortgage 5 % , 1910
914,000
General mortgage..............
630.000
Bloom. A N. Ry.,El.AIIt.Co,
600,000 Spring. A Northeast. Tr. Co.
800.000
Bloom. A N. Ry. A Lt. Co__
783,000 St. Louis Elec. Brldgo Co.
Central R y. Co. of Peoria___
570,000
(2H % to 5 % )
............. 2,5-12,000
Chic. Bloom. A Dec. R y___
4.000 St. Louis Elec. Term. Ry.
Danville Consumers’ Coal Co
25 000
(2M% to 5 % ).................... 1.724.000
Danville A E. III. Rv. (1927).
50,000 St. L. A Springfield R y ........
451.000
Danville A Northern R R ___
17,000 St. L. Snr. A Pco. R R . 1st M. 1.875.000
Danville A Southeastern R y .
60,000
General mortgage, 1939__ 1.038.000
Danville St. Ry. A Lt. C o ...
682,000 Terminal Power Co. (1929)..
750.000
Debens. (5 A 6 % , ’29-’30).
805,000 roockaEdlsonCo.(V.92,p.730)
850.000
Danville Urb. A Champ. Ry.
Toneka Ry. Co. (V .80,0.998) 1.190.000
1st M. 5 % .......................... 2,000,000 Urbana A Champaign Ry.,
6%
822,000
Gas A Electric 1st M........
154,000
Decatur Gi^s A F.lec.Co.lst M.
270.000
Consolidated mortgago___
34f, ooo
Second mortgage................
90,000
Debentures (5 % A 6 % ) . . .
521,000
Decatur R y. a Lt. Co. first
Urbana Lt.,Ht.AP.Co. cons.
79,000
consolidated mortgage..
728.000
First mortgage.......................
35,500
General mtge. (V. 91, p. 38)
003.000
Decatur Trac. & Elec. C o ...
212.000
Total Dec. 31 1911........... .$30,632,500
Des Moines Electric Co. (V.
Total Dec. 31 1910............ 35,607,500
88. P. 37.8)_____ _____
1.703.000
De3 Moines Ry. A Lt. C o ...
Preferred Stock—
838.000
111. Central Trac. Co. 1st M
1.469.000 Bloom. Dec. A ChampRR. A. $300,000
Temporary gen. M .(5A6%)
570.000
Series B .......... ..................
225,000
Jacksonvilleas, Lt.ACokcCo.
165.000 Bloom. A N.Ry.&Lt.Co.(6%)
300,000
JaeksonvillcRy.ALt.Co.lstM.
510.000 St. L. Elec. Term. R y .......... 1,000,000
Kansas Ry. a Light Co........ 1.448.000 St. L. Snr. A Pco. R R.ser. A. 1,538,000
Madison Co. Lt. A Power Co.
433.000
Series I I ..............................
737,000
Peoria Bloom. A Champ. Tr.
Co. 1st mortgage...
2,000,000
Total Dec. 31 1911............ 54.1Q0.000
Temporary gcn.M.(5A6%)
485.000
Total Dee. 31 1910............ $3,450,000
[Recent bond offerings, Ac.: Bloomington Dec. A Champ. V. 92, p. 185, 259
* Normal R y. A Light, V. 93, n. 665; Ch. Bloom. A Dec., V. 92, p!
Marconi’s Wireless Telegraph Co., L td ., London, England.
31 1911.)
Secretary Henry W . Allen, London, June 8, wrote in subst.
{R e p o r t f o r F is c a l
173
T H E C H R O N IC L E
July ‘JO 1912]
Y e a r e n d in g D e c .
Imperial Wireless Plan.— The directors b y circular in March last an
nounced that terms had been settled between Ills Majesty s i ostm astcrGcncral and the com pany for the construction of all the long-distance wire
less stations which will be required within the next few years for the Impe lal wireless scheme
Ten per cent of the gross receipts of so Important
a com m ercial telegraphic service must represent to this com pany a very
considerable revenue for m any years to com e. All stations erected under
this scheme will be tltted with the duplex invention and also with apparatus
for automatic transmission and reception; the com pany guaranteeing a
speed of not less than 50 words per minute, which under favorable conditions
should be considerably exceeded.
Profits.— During 1911 our gross trading profit am ounted to £211,107,
as compared with £127,453 for 1910, and the net profit was £141,717, as
com pared with £60,513.
New Shares.— On O ct. 25 Inst a resolution was passed authorizing the in
crease of the capital by 250 000 ordinary shares of £1 each [l. e., from
£500,000 to £750,000, the auth. am ount of pref. shares remaining, £250,
0 001. 'these new shares were issued at £1 per share premium, o f which
£99,072 was paid during 1911, the balance falling due on or before June 7
1012. Three-quarters ot these shares were offered to the shareholders, the
remaining 25% Issued at tire same price served to guarantee the issue.
Associated Companies.— The am ount due from the Marconi Wireless 'Iclcgraph Co. of Canada, I.td., was reduced during 1911 from £163,866 to
£78,588, but is likely to be increased somewhat during 1912 for develop
ment work. That com pany's business shows satisfactory progress.
Our shareholdings have been reduced by tho-sale of 50,000 Canadian
shares at 15s. per share, and the redemption by the International Company
o f £ 10,000 debentures at par, and increased by the addition of bpanlsn,
Russian and Trench shares, ri he com pany now holds shares in associate
companies o f a total par value of £2,071,723 11s. 9d., m any o f which aie
quoted at a premium. [Sec list below.]
In Oct. 1911 control was acquired of tire Russian com pany of Wireless
Telegraphs & Telephones, with extensive freehold works in St. 1 etersburg,
substantial dividends m ay i,e expected therefrom in tire early future. I he
Camp. Nac. dc Tel. d n hllos has com pleted its first chain of stations, and a
considerable telegraph business is being conducted between .Spain and the
Canary Islands and also with ships at sea; in order to obtain a quotation
and settlement for the shares in London the Spanish & General Wireless
Trust, Ltd., was form ed, enabling those who so desired to convert their
shares In the Spanish com pany Into ; hares o f £1 each in the trust.
The Trench com pany has declared a dividend for the part year at the
rate of 5% per annum. The Marconi lnternat. Marine Communication
Co., Ltd. is about to declare a dividend at an Increased rate for 1911. The
Belgian com pany has declared a dividend for 1911 o f 10% , also 24 francs
per founders’ share. The Deutsche Bctrlebsgcsellschaft fur Drahtlose
Telegraphic m .b .H . (D ebcg.), which conducts the mercantile marine busi
ness In Germ rny, and In which this com pany Is interested through its Bel
gian com pany, has declared its first dividend of 4 % for the year ending
Sept. 30 1911.
M ARCO N I WIRELESS T E LE G R APH CO. OF A M E R IC A — ACQU I
SITIO N OF U N ITED
WIRELESS— N E IV' STOCK, ETC.
Acquisition of United Wireless.— Tor some years past the American com
pany was able to transact but a com paratively small business, owing to the
severe com petition of the United Wireless Telegraph Co. The business of
tin t com pany was in 1912 being conducted b y trustees under the court,
pending reorganization (V. 04, p. 703)
As a result o f negotiations, we
acquired all of Its tangible assets, and these, so far as they related to the
U S were resold to the Marconi Wireless Telegraph Co. of America. The
United Wireless admitted the Infiingement of our patents and a Judgment
and perpetual injunction were granted. The business is now being directed
by flic Marconi Wireless Telegraph Co. of America and for their account
as and from March 31 la d (V. 94, p. 1703, 922).
This acquisition should at once convert the business of our American
com pany into one o f considerable magnitude, controlling all the co®8* SV '
tlons o f importance on both the east and west coasts, beslde8iPractlc a lly ih e
whole of the American Mercantile Marine at present fitted with wtWKss
telegraphic installations. This business alone should enable the payment
of dividends even upon the largely increased capital (V. 94, p. 009). A
considerable Impetus, how ever, to the ship and sliore business in the U. B.
is to be expected from recent events [llta n ic disaster, &c.] b y the exten
sion of the existing law rendering wireless telegraphy com pulsoiy upon
practically all vessels.
.
.
. __ . .
Agreement with Western Union Tel. Co.— An agreement of great im
portance was [in April 1912) entered into with the W estern Union l elegiapn
Co. and the Great Northwestern Telegraph Co. This agreement furiilsncs
the Marconi com pany with some 25,000 telegraph stations for the delivery
and dispatch of Marconlgrams throughout the U. S. and Canada, making
it possible to create services between this country and New York, the Racine
Coast and the East, and between North and South America (V. 94, p. 1191).
S t o c k . — The stations to be constructed by the American com pany
necessitate a large expenditure. It was, therefore, resolved to increase the
capital o f the American com pany to 510,000,000, and to split the existing
shares o f $25 into shares of $5 each (V. 94, p. 915, 1122). The whole $7.
000 000 new stock was applied for b y the shareholders or their assignees,
and’ the 57,000,000 so subscribed in cash Is available for the construction
o f stations and the developm ent of n. very extensive telegraph scivicc.
Extensions.— Arrangements arc now In progress for the construction of
stations placing this country ]n .direct c o m n u i n l c a t ^
instead of as
construction
waiian Islands ... >us .
..................
south to Cuba, Panama and subsequently with all of South America
The United States having now adhered to ttie International Itadiotclcgraphlo C onvention, the con du ct of business will be greatly facilitated anil
Irresponsible and troublesome interference caused by amateurs and otners
In tlie past will now cease.
7'ratisatlatilic Service— Acquisitions of tire less Compass, A c.
.
The transatlantic service has continued to work satisfactorily. From
May 1 1912 all the postal telegraph offices throughout the United King
dom have been opened for the reception of messages "v ia Marconi” to any
part of the U. S. anil Canada (V. 94, p. 1253). There has been a consider
able Increase In the number o f commercial messages and in press work,
m any thousands o f words being dispatched every day from London to the
N Y press. The general public arc beginning to realize that it can
London within ten minutes of the time o f their dispatch. W hen the new
stations between London and New York arc com plete they will be inde
pendent of the land lines and will provide a service which will not be sur-
whereas to-day they considerably exceed £1,000,000, your directors feel
that they m ay conservatively declare 7% on the preference shares and a
first interim dividend of 10% on the ordinary shares, as against the 5%
of last year, thus leaving preference and ordinary shares to participate
equally in all further distributions for the current year.
P R O F IT A N D LOSS AC C O U N T.
Ilal. of contracts, sales and trading a cct., £214,407; transfer, & c.,
fees, £ 8 3 2 ____________________________________________ __________ £215,239
Deduct— Interest, rents, taxes, salaries, general e xp ., law e xp .,
experimental work, & c--------------- ------------------------------------------------73,522
Balance, surplus for year [available for dividends]--------------------- £141,717
Deduct interim d ivs., 7% pref., £31,767, and 10% ord ., £ 4 9 ,8 9 6 .. 81,663
Balance available for the final 10% d lv ., paid on all shares---------- £60,054
B A L A N C E S H E E T DEC. 31 1911 ( TOTAL E A C H S ID E £1,132,096) .
Cash at bankers and in hand £79,872 Ordinary shares, authorized
750 000 of £1 each, fully
40,000
Loan against securities____
p a i d _____________________ £508,266
Debtor balances___________ 198,427
do
241,734 shares
Due from Marconi Wireless
partly paid_______________
30,269
T el. Co. of Canada, L t d . .
78,588
Stock at w orks____________
52,840 P artic. cum . pref. shares,
authorized 250 000 o f £1
Freehold works at Dalston,
each, fully p a i d _________ 250,000
£39,481; m tge., £16.012 . 22,869
Chelmsford w orks__________
7,738 Premium a ccou nt__________ 105,703
Bills payable, & c__________
59,474
Long distance freehold sta
Reserve, & c------------------------17,628
tions at Clifden, Ireland,
Proilt and loss_____________ 160,756
and Poldhu, Cornwall, and
Contingent liabil. on shares
m ovable plant at other
in associated cos £66,387
139,218
places......... ......................
Office furniture & llttln g s..
4,020
Patents and shares in asso
ciated com p a n ies________ 508,523
.Shares owned in associated com pancs, total par value (o r am ount paid
in if less than par), £2,074,723, but carried in balance sheet above at
£508,523, viz.: 200,290 fully-paid shares of £1 each of Marconi lnternat.
Marine Com. C o., L td ., £200,290; 834,521 fully-paid shares of 55 each.
Series " A , ” £834,521, and 88,250 shares of 55 each (25% p aid). Series " H "
of Cia. Marconi lie Telegralia sin hilos del R io de la Plata (Argentine C o.),
£22,062; 34,174 fully-palil shares of 525 each of Marconi Wireless T el. Co.
of Am erica, £170,870; 564,855 fully-paid shares of 55 each of Marconi W ire
less Telegraph Co. of Canada, L td ., £564,855; 250 shares o f £1 each (20%
paid) of the Marconi Press A gency. L td ., £50; 4,040 fully-paid pref. shares
of pesetas 500 each, £74,815, and 4,950 fully-paid ordinary shares of
pesetas 500 each ot Cia Naclonal d c Telegralia sin hilos, £91,667; 10,800
fully-paid shares of roubles 100 each of Societe Russc dc Telegraphes et
Telephones sans Fil, £114,894; 175 fully-paid ordinary shares o f francs 100
each of Cie Francaise Maritime et Coloniale dc Telegraphic sans Fil, £700;
90 bearer shares (parts beneficaircs) of no capital denom ination, and 100
founders shares of no capital denomination of Cie de Telegraphic sans Fil,
Directors: Comm cndatore G. Marconi (Chairman), Godfrey C. Isaacs
(Managing D irector), Samuel Geoghegan, Alfonso Marconi, Maj. S. Flood
’ > o r - r t . H . Itiall Sankcy, Henry S. Saunders, Col. Albert T hys, M. Mau
rice Travaillcur.— V . 91, p . 297.
American Thread Company.
{ S ta te m e n t f o r
F isca l
Year
e n d in g
M arch
31 1912.)
1911-12.
1910-11.
1909-10.
Gross profits____________ $1,366,775 $1,933,619 $2,441,844
Deduct—
5529,100
$505,874
Depreciation .................
$404,588
240,000
240.000
Bond interest__________
240,000
300.000
General reserve_________
______
300,000
Res. forco n tln g . on stks.
---------244,524
244,524
Pref. dividend ( 5 % )____
244,524
Comm on dividend______ (6)324,000 (10)540,000 (15)810,000
Balance, surplus_____
$63,663
$79,995
1908-09.
$1,128,736
$400,000
240,000
244,524
(4)216,000
$28,212
$341,416
BALANCE SHELT MARCH 31.
1912.
1911.
Liabilities;—
Assets—
S
S
Common s to ck ...
and, water and
5% pref., fully rd.
steam power,
4% 1st M. bonds.
mills, machin'y,
Plant & effects. 15.235,492 15,103,613 Accounts payable.
Bills payable........
Stock in trade, net
6,409,104 5,970,932 Bond int. accr., &c
cost.................
Depreciation fund
accounts receiva
ble, net.............. 1,137,741 1,191,340 Dlv. on com. slock
payable in July.
ash ...................
288,822
353,995
Sundry invcstm’ts 305,615
313,962 Reserves ..............
advance paym’ts.
43.125
33,321 Balance forward..
l
23,419,899 22,967,163
Total
- V . 94, p. 418,
Total
1911.
S
5,400,000
4,890,475
C,000,000
878,599
205,483
70,847
3,539,395
1912.
$
5,400,000
4,890.475
6,000,000
691,321
578,737
65,403
3.903.9S2
324,000 ~ 510,000
073,452 ; 613,559
892,409 ' 828,805
.............. 23.419.899 22,907,163
American Glue Co., Boston.
' { R e p o r t f o r F i s c a l Y e a r e n d i n g M a y 31 1912.)
The annual results compare as follows:
Net_______, ___________
Prem. from sale o f stock .
T o ta l________
Depreciation —
Pref. divs. (8% ).
Surplus for ycar..
Prcvlous surplus___
1911-12.
$242,484
184,140
1910-11.
$261,462
1909-10.
$295,985
1908-09.
$233,867
50,260
$284,127
$295,985
$261,462
$426,624
$35,000
$50,000
100,000
104,192
i27,772
$128,000
139,236
(6% )18,000 (6% )48,000 (6% )48,000 (4% )32,000
139,388
1,048,972
$85,462
963,510
$70,213
893,297
$112,935
780,361
$1,188,360
$1,048,972
$963,510
$893,296
B A L A N C E S H E E T M A Y 31.
1912.
1911.
1912.
1911.
Liabilities—
$
S
Assets—
S
5
C a s h ....... ............ 140,608
136,410 P ref. stock ......... 2,000,000 1,600,000
800,000
A cc’ts re cciv a b le l,531,708 1,475,648 Comm on s t o c k .. 800,000
Notes receivable
70,464
83,725 Notes p a y a b le .. 097,500 1,138,000
A cc'ts p a y a b le ..
53,360
117,845
Mdse., mfil. & In
p ro ce ss......... .1,112,473 1,064,248 Profit & loss sur
p l u s . ......... 1,188,360 1,048,972
Real cst.& m ach. 398,137
474,272
Stocks oavned—
785,830
Z™.514
Pat. I ts. & g.-Wlll 700,000
700,000
Pa*Thc c o m p a n y ° h n s C entered into arrangements b y which It obtains the
sole rights o f the world of a process invented by Bellini anil Tosl, known as
tlie wireless comnass which, in conjunction with existing wireless tele
graphic Installations on board ships, will define the position of an approach
ing^shipor of land in a dense fog. A ctive steps are being taken for the
T o ta l................4,739,220 4,704,817
T o t a l...............4,739,220 4,704,817
commercial developm ent of this process.
Since our lust report further vuluuble patents have been applied for by — V . 94, p. 125.
Mr. Marconi on behalf of tills com pany.
Factories.— The Chelmsford factory has been working li ght and day,
Cities Service Co. (of Delaware), New York.
but was incapable of coping with the continued incicase of business. > •;
have purchased some 10 acres near the G 'eat Eastern Ily . and are erecting
{ 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 c h . 31 1912.)
new works, which, It is hoped, will shortly be in full occupation.
__
Pres. Henry L. Doherty, April 17 1912, wrote in substance:
Message Tapp inn.— Respecting tlie so-called ta p p ln g o f wireless messages
the nations taking part In the Beilin Convention o f 1906 agreed that snips
New P roperty.— On O ct. 1 1911 ave acquired by purchase for cash the
at sea must be at attention on a wave-length o f 300 metres, and that con entire capital stock, clear of all indebtedness, of the Brush Electric Light
versations between ships at sea and coast stations shall be carried on by
&
Power Co. of Galveston, T ex.
tlie use of wave-lengths of cither 300 or 600 m e fe s , so that in c ’ se of ijisNew Stock.— The board authorized a sale of its pref. and com m on stock
tress or otherwise every ship at sea shall he capable of calling or bein'? caiieu
through a London house to finance the aforesaid purchase, and we have
by any other ship at sea or any coast station. This applies to ship co m
thereby added over 1,000 new stockholders, located in England, France
munications only. Mr. Marconi's No. 7,777 patent enables stations to and H olland. Application Is pending for the listing of this stock upon the
tune to any wave-length by simple means, and only stations tuned to tlie
London Stock E xchange. Tills should result In a further avidening of the
same wave-length can com m unicate together.
com pany's market, enabling your board to acquire other properties from
Dividends.—-During 1911 Interim dividends were declared at the end time to time upon better terms. [The $10,195,360 pref. was admitted to
o f June and December am ounting in all to 7% on the pref. and 10% on the official quotation by the London Stock Exchange on or about July 20.— Ed.]
ordinary shares: and it is proposed to pay a final dividend o f 10% for tlie
Stockholders.-—The number of stockholders In Am erica has Increased
year 1911 to which all classes of the stock will be entitled. In view o f the from 1,570 to 2,274 during the year.
fact that the orders In hand at this time last year amounted to £254,000
m
T H E C H R O N IC L E
General Conditions.— The general business condition in the cities and
districts served is good and has im proved during tile past few m onths,
particularly in the Empire District, where renewed a ctivity lias brought
to the com pany’s lines a very large quantity of new power business.
An unusual quantity of snow in the mountains of Colorado promises a
certainty of large crops there, which will give a stimulus to business in
Denver during the spring and summer.
The Denver Gas & E lectric Co. made a voluntary reduction in its gas rate
on Jan. 1, this resulting temporarily in some loss of revenue, but should be
made up eventually through added sales.
A t Galveston our efforts to add additional business to the com pany's
system are meeting with marked success. Galveston is growing steadily,
and all indications point to great benefits from the opening of the Pan
am a Canal.
Spokane has been hampered somewhat b y the dull conditions recently
noticeable in the Northwest, but our latest advices Indicate a more hope
ful outlook for the spring and summer. W ith the vast territory tribu
tary to Spokane we predict a steady growth there.
Balance Sheet, & c.— We call special attention to the increase in surplus
account during the year and to the total surplus to date which lias accumu
lated after the paym ent o f dividends upon all outstanding stock. The
board predicts a steady increase in the net earnings from all of your prop
erties during the com ing year.
E A R N IN G S FOR Y E A R E N D . A IC II. 31 1912 (C o.w as Incorp. Sept. 1010).
Earnings on stocks owned In sub. co s ., $975,707; mlscell. earn
ings, $62,446; total gross earnings_____________________________ $1,038,213
N et earnings (after deducting expenses, $64,026)_______________ $974,187
Dividends on pref. stock, $541,405; divs. on com m on, $164,303
705,707
total ............................... .................................................. .......................
Ba ance, surplus or yea*.______________________________________
$268,479
CONDENSED BALANCE SHEET APRIL 1.
1912.
1911.
1912.
1911.
^4sscLs__
§
§
Liabilities—
8
$
Plant* lnvestm’t.2 9 ,123,083 27,574,467 Common s to c k ...20,000,000 20,000,000
♦Treasury stock..
1
1 Preferred stock.. . 10,195,360 S,563,380
Earnings receiv__ 1,161,836
384,541 Accounts payable.
298,455
_____
Bills receivable__
50,000
_________
Dlvs. a ccru ed __
327
24,785
Accts. receivable.
54,988 562,325 Expenses accrued
Securities owned.252,000
..
in advance........
3,078
1,450
Cash ...........
298,551
213,040 Surplus................
443,239
174,759
T o ta l................ 30,940,459 28,764,374
Total ................ 30,940,459 28,704,374
*'M5,005.70 shares In 1912, against 151,643.10 shares In 1911.—V. 94, p. 1451.
Anglo-American Oil Co., L td ., London.
Y e a r e n d in g D e c . 31 1911.)
A t the annual meeting held in London on June 20 Chair
man J. H . Usmar said: .
(R ep ort f o r F is c a l
The profit and loss account for the year shows a loss of £140,094. De
ducting this sum from the credit balance brought forward from the previous
year of £610,879, leaves a credit to profit and loss account of £470,785.
A n interim dividend of 10% was declared free o f income tax and paid on
April 15 1912, absorbing £100,000. The directors now recomm end that a
further sum of £100,000 be applied in the paym ent of a dividend o f 10% ,
free of income tax, payable on July 15, 1912, which with the one already
paid makes 20% for the year, and to carry forward £270,785.
In the profit and loss account for the year there is an item of £41,640
for interest on loan account, £735,176. This loan account has now been
paid olf, the whole of the property being free and unencum bered. The
am ount carried forward m ay appear large, but in view that the business in
which the com pany is engaged is one that at times is liable to considerable
fluctuations and keen com petition, the directors consider it prudent to do
so. So far as the present outlook Is concerned, it is m ost prom ising.
PROFIT AND LOSS ACCOUNT
Shipping department— profit,
less expenses.............. ......... £167.668
Balance on sale of ships over
book value.............. ............
12,375
Total.......... .......................... £180,043
Deduct—
Loss on trading........................
Interest....................................
Depreciation written oft, A c ..
Income t a x .............................
YEAR ENDING DEC. 31 1911.
Dismantling depots, Ac
£2,163
Fire loss............. ..........
10,481
Stamp duty....................
15,119
Total deductions.................. £320,137
Loss for year...... ..............
£140,094
Balance, Dec. 31 1910...........
610,879
£58,453
Balance, Dec. 31 1911........ £470,785
41,640 Divs. (20%— 10% seml-ann.).
200,000
176,227
10,054
Balance, after dividends..- £270,78
BALANCE SHEET DEC. 31 1911 (TOTAL EACH SIDE, £3,154,294).
Freehold land (cost).......... ..... £ 110,003
Capital authorized and Issued.£ 1,000,000
Other property.............♦1,388,133
Loan account...........................
’735J76
Bills and accounts receivable.
776,228 Accounts payable___________
389,419
Oils, spirits, barrels, A c........
712,307 lies, for marine A fire ins........
558,914
107,622
Cash at bankers, A c . . .
Profit and loss..........................
470,785
♦Other property Includes (at cost, less deorcc’n). tanks, bldgs., leaseholds,
wharves, plant, tools, office furniture, Ac., £162,962; steamships, sailing ships,
barges and tugs, £ 1,092,064; steel barrels, cans and cases in stock and outstanding,
£85,947; horses, railway and road tank wagons, vans, harness and sundries, £47,160
— V. 91, p. 1766.
Texas Pacific Land Trust.
( T r u s t e e s ’ R e p o r t f o r F i s c a l Y e a r e n d in g D e c . 31 1911.)
iv W . H . Abrams, the agent of the trustees (Charles J. Canda,
Chairman), wrote from Dallas Feb. 15, in part:
Some 39,526 acres of land were sold for $182,743, of which, say, 26%
was paid in cash and 74% in 6% notes with a first lien on the property sold.
T ow n lots, 39, for $1,770. The average price per acre obtained for lands
sold was about $4 62 H . or a decrease, say, of some 30c. per acre, as com
pared with 1910. Sales made in 1911 were practically all in the TransPecos territory, and Included, as a rule, more remote and less valuable lands.
The total valuation of your unsold lands, upon which you paid State
and cou nty taxes in 1911, was about $3,500,000, and average rate paid
about 80 cents on each $100 in valuation.
Your unsold lands Dec. 31 1911 consisted of 2,174,428 acres situate in 34
different counties: also 129,760 acres in 15 different counties, the deeds to
which are still held In escrow by the Farmers’ Loan A Trust C o., making
In all unsold 2,304,188 acres., located In some 38 different counties, the
large proportion being in the western half of the State.
In the last report your holdings in El Paso County were given as being
1,068,599 acres. The present Legislature created the new cou nty of Cul
berson out of the eastern portion of El Paso County, and the county seat
established at the town of Van Horn. As a result, your lands in El Paso
County are now 544,575 acres, and in Culberson County 523,370 acres.
The net rentals from lands leased for grazing increased to $65,186 In
1911, or a gain of $5,101. Conditions were unfavorable to the cattle Inter
ests, which still continue rather the most Important interest in the western
section of the State. It was the third year In succession of less than normal
rainfall. The pastures became so denuded of grass and stock water so
scarce that the losses of cattle were very great, and the rem oving of the
herds to more favored localities became very generally necessary. In con
sequence, the holdings of cattle In that territory are now much smaller than
usual, re-stocking with cattle from near-by Mexico not being possible to
any considerable extent during 1911, owing to the disturbed conditions
In that country. Good rains came In the early autumn, particularly in the
territory west of the Pecos River, and there is now plenty of grass and water
Applications to lease lands are increasing and it Is thought that the cattle
Interest wilt soon again be in normal or fairly prosperous condition. Graz
ing lands are becoming scarcer each year.
Your policy of investing accumulations of m oney In your outstanding
proprietary certificates was continued, there having thus been canceled
3.500 shares ($350,000) at an average cost of S87 79 per share, contrasting In
1910 with 4,000 shares ($400,000) at $89 17 per share, and In 1909 with
4.500 shares ($450,000) at S88 82 per share.
p The suit Involving the escrow lands Is still pending in the Supreme Court
o f New York County. The report of the referee m ay soon bo expected
[VOL. LXXXXV.
The oil excitem ent in 1910, in the so-called “ T oyah F ield ," has largely
abated. The Texas Company, the pioneer in that territory, seems to have
abandoned the Held, whether temporarily or not or for what reasons Is
not divulged. H owever, that held has by no means been abandoned.
W ork on a number of wells is being actively prosecuted by different people
in different portions of that territory. Some of these wells are far rem oved
iiom the location of the late activities of the U'cxas Company. Numerous
applications for leases of lands are continuing to be received from parties
desiring to prospect for oil and gas.
On account of increased acreage, the cotton crop was the largest In the
history of the State. The prices, however, obtained were about 30% less
than those ruling last season. In the Western section, where your Interests
are principally situate, the production of cotton, while constantly increas
ing, does not yet make much of a figure in the S tate’s total production
Cotton is, however, getting to be one of the most certain and profitable
farm crops in that western section. Irrigation in different sections has
generally resulted in good crops, even during the dry years. W ith the im
proved gasoline engines, extensive areas arc now being irrigated by pum ping.
A feeling of hopefulness seems to obtain that tills will prove a good crop
year and our prospects for the year seem, on the whole, favorable.
R E C E IP T S A N D E X P E N D IT U R E S .
Receipts—
4911.
m o.
Cash beginning of y e a r . . . .................
$5,510
$18,783
Rental of grazing lands.........................
65,678
60,995
Sales of lands and lo ts_______________
48,034
67 940
278,490
278 583
Bills receivable......... ............ .................
M iscella n eou s_______________________
816 ___________679
_________
T o ta l.......................................................
Expenditures—
General expenses (Texas o ffice )..........
C om m issions____________ _________ _
T a x e s _______________________________
M iscella n eou s___________ _____ ______
Purchase of T . A P. R y . scrip_______
Purch. prop, certs, of T . P. L. T r.,
avg. $69 37 in ’08. $88 82 4- in ’09.
$89 17 4- in ’ 10 and $87 79 in ’ l l .
Cash on hand_______ ________________
1909.
$5,385
72,531
129,052
285,702
899
$398,529
$420,984
$193,560
$18,677
8,563
29,409
11,766
$16,117
10,805
25,503
12,329
33
$13,627
16,240
26,463
18,735
307,269
22,845
356,687
5,510
390,721
18,783
T o ta l.......................................... .............
$398,529
$426,984
$493,569
AS S E TS A N D L IA B IL IT IE S DEC. 31 1911.
Assets.— (1) 2,174,428 acres of land situate In 34 counties (V . 78,
p. 2382); town lots in Mineral Wells, T ye, Loraine, latan, IJig
Springs, Van Horn, Stanton, Germania and Morlta: 129,700
(?)
acres of canceled sales in 15 counties (deeds In e s cro w )........... ..
(2) Bills receivable (deterred payments) and cash ($22,845) $1,327,480
L iabilities.— Proprietary certificates outstanding,
Including
$137,013 held in escrow by the Farmers’ Loan A Trust Co
$4 534 066
(The $137,043 Is held in escrow to take up the remaining Eastern division
land secutlties Issued by Texas A Pacific R y. C o., viz.; Incom e and land
grant Interest scrip, $94,210; Income and land grant bond scrip $4 128Interest scrip on old land grant bonds, $490.)— V . 93, p. 344.
’
Lawyers’ Mortgage Co., New York.
M o n t h s e n d in g J u n e 30 1912.)
(R e p o r t f o r S i x
O P E R A T IO N S FOR H A L F - Y E A R .
1911.
1910.
$
$
Guar, mortgages s o ld ___ 22,016,629 18,250,331 21,740,285
do d o ou t’g June 30.125,666,118 113,956,667 103,021,787
Income from—Premiums for guaranties
298,542
275,200
243,308
Interest on m ortgages..
166,524
124,943
125,101
Rent, commissions, A c .
8,180
7,913
11,109
Gross earnings_______
Expenses—
R en t___________________
S a la ries________________
Advertising .................... 1
Stationery ------------------- /
Taxes and general ex pen.
1909.
$
16,897,501
86,905,963
198,046
100,393
3,741
473,246
408,056
379,518
302,780
9,000
62,518
11.097
9,000
55,047
9,314
9,500
50,898
7,851
17,981
14,161
9,709
9,500
41,991
15,135
12.127
14.128
Gross expenses______
100,596
Net earnings___________
372,650
Dividends (6 m o n th s ).. (6)300,000
87,522
320,534
(6)240,000
77,958
301,560
(0)240,000
72,881
229,899
(6)150,000
Balance, surplus_____
72,650
80,534
00,560
79,899
BALANCE SHEET, JUNE 30.
1912.
1911.
1912.
1911.
A sscls—
5
5
Liabilities—
S
5
N. Y. City mtges__ 7,551,854 4,587,633 Capital...... ................6,000,000 4,000,000
Acer. int. receivable. 369,976 258,199 Surplus.................... 2,500,000 2,000,000
Co.’s Bkln. bldg., cost 175,000
175,000 Undlv. profits........ . 150,528 471,042
Real estate.............. 307,3S3
160,120 Mtgs. sold,not dcliv’d
737,849 456,139
Cash ......................1,046,298 1,802,634 Res’d for prem., A c.
62,134 56,405
I Ol III ________ _ _ _y ,‘xOUjO11 I)
,OOu
lOl ill - — - - — _ __ _V),‘xOU,<) 11 I) ,Joi) ,OiM)
There arc 9,452 mortgages outstanding (sec “ operations” above) the average
loan In Manhattan amounting to $33,000. In Brooklyn to $5,600 and in theBronx
to $18,500.— V. 94, p. 702. 419
Nipissing Mines Co. (of Maine), New York.
Y e a r e n d in g D e c . 31 1911.)
Pres. E . P. Earle, N . Y ., April 1, wrote in substance:
(R eport f o r F isc a l
The results obtained were very gratifying. The net earnings of the o p
erating com pany were over $2,000,000, out of which sum $1,800,000 w ei»
patd in dividends. The surplus was lnoreased by over $250,000
The cost o f producing silver, Including every item o f expense, was under
14 cents per oz. O f this production (5,200,000 ozs.) over 74% was profit.
These two results are the best recorded in tile history o f the com pany and
are to a considerable extent due to the high-grade ore refinery.
Because our hydraulic plant was not delivered In time for operation last
year, only about one-third the usual amount of prospecting was done.
Notwithstanding this, the high-grade ore reserves on Jan. 1 1912 exceeded
in value those of the previous year by over $275,000. Including the ac
cumulated low-grade ore on the dumps (but not considering the large am ount
o f this class of ore In the m ines), the reserves were Increased during the year
by $1,300,000, to a total of $4,572,000. This is the largest ore reserve ever
shown by the com pany. There remain 270 acres, or about one-third the
total area, still unprospected, and that part which Is now being operated,
it is believed, will yield further large tonnages o f both high and low-grade
o re s .. During the year the problem of econ om ically treating high-grade
ores was satisfactorily solved, and since last August we have treated in our
own works all of this class of ore. The savin g of refinery charges, freights.
Interest. A c., has been large.
The experience gained from th e treatment o f high-grade ores having
shown that our low-grade ores ca n also lie treated profitably, a 200-ton mil
is now being erected for that purpose. It should be I11 operation late
this year.
’Fhe flnancl al condition o f the com pany and the condition of the mines
were never better, and wc look forward to tills year with much confidence.
Total Shipments to Dec. 31 1911.
Dm
Gross Gross Value Silver
Net Value
wetr/ht,
ounces, plus Cobalt, Nickel
Received
Pounds.
Silver. & Arsenic paid for. from Sm 'rs.
121,650
32
$24,164
$23,887
1904 .....................
1905
.....
939,373
753,154
505,038
471,607
1 9 0 6 ..
.....
4,019,494
2,214,822
1,576,853
1,421,056
1 9 0 7 ..
......... 4,804,420
2,2 30,552
1,373,089
1,234,402
1908..................
7,009,098
2,893,031
1,520,080
1,364,478
1 9 0 9 ..
..... ..1 2 ,8 2 5 ,1 0 9
4,040,869
2,417,707
2,180,407
1 9 1 0 ..
..... ..1 3 ,3 9 7 ,8 0 0
5,597,770
*.008,001
2,742,321
1 9 1 1 ..
......... 5,829,254
4,078.074
2,507,197
2,381,713
T o t a l _______ 48,950,233
23.023,313
$12,939,395
$11,820,621
T H E C H R O N IC L E
July 20 1912.]
175
The item o f net value for 1911 ($2,381,712)S3ncludes: High-grade ore, | 000,000, divided into 1,200,000 shares of $100 each, and with head office
$881,134- low-grade slllclous ore, $226,048; concentrates, $117,086; total i at T oron to. The directors will be Sir W m . Mackenzie, Chairman; E . R .
ore, $1,224,268. Silver bullion, $1,272,464; bullion from ore milled b y | W ood, D. B . Hanna, Z. A . Lash, Miller Lash and Sir II. M. Pellatt, all o f
N ova Scotia C o., $27,022; total shipm ents, $2,523,753; less bullion from
T oronto; F. S. Pearson, N. Y ., President; Alexander Mackenzie and Al
fredo Maia, R io de Janeiro: Percival Farquhar, Paris; R . M. Ilorne-Payne
ore purchased, $142,041; shipments o f N ipisslng product, $2,381,712.
and II. M. Hubbard, London, Eng.; Sir W m . C. Van Horne, Montreal.
Annual Dividend Record (D ividends Payable Q .-J. 20).
There will be two additional directors appointed, one from France and'one
1906 1907 1908 1909
1910 1911
1912
from Belgium. (See also V . 94, p. 1762.)
R e g u la r ______ 6%
12%
12%
14%
20% 20% 5,
5,
5,
----Basis of Exchange for Share Capital o f the New Company.
E x t r a ................ 2 %
None None
8J4% 15%
10% 2 y 2, 2 y 2, 2 ' A , -----Present Capital -------------- New Company's-------------X I PI SSINO MIXES CO. INCOME ACCOUNT (HOLDING COM PANY).
Stock. Issue.
Shares.
R io de Jan. T ra m .,L .& P -.5 4 5 ,000,000 1 3-5 for 1 or 160% — $72,000,000
Deduct—
1911.
1910.
1911.
1910.
for 1 or 2 75 % — 2fJ®D.000
Dividends .__(30)S1800000(35)S2100000 Sao Paulo Tram ., L. & P . 10,000,000 2 %
Divs. on Nip. Mg.
for 1 or 100% —
«3*»f>,000
Co. stock_____ $1,S43,207 $2,127,500 General expenses.
51,290
41,289 Sao Paulo Electric C o ____ 5,000,000 1
Reserve unissued, available for sale in the future_____________
l i ^ p o ’ ooo
Interest received-22
199
Total dcdue’ns.$1,851,290 $2,141,289
T o ta l--------------------------------- ---------- ----------------- --------------- -------$120,000,000
T o t a l................ SI.843,319 $2,127,699 Balance, deficit--S7.971
$13,590
Careful consideration has been given to the relative values of the shares
NIPISSING MINES CO. BALANCE SHEET DEC. 31.
and the present and prospective earning power of the three com panies,
and your respective boards are of the opinion that the basis of. exchange
Assets—
1911.
1910.
Liabilities—
1911.
1910.
is equitable and advantageous to the shareholders of each com pany and
Cap. stk. N.M.Co.SO,000,000 $6,000,000 Capital stock........ SO,000,000 SO,000,000
D ivs. rece iv ab le._
450,000
455,000 Divs. payable Jan.
450,000
450,000 they recomm end you to accept the proposal and exchange your shares.
The estimated revenue of the traction com pany from the com bined
__________
Acc'ts rece iv ab le..
71
Surplus........ .......
410
8,381
undertakings is sufficient to Justify the traction com pany in com m encing
Cash .....................
339
3,381
to pay dividends at the rate of 6% per annum, and the expected increase
in the future revenues of the com pany in the years 1913 and 1914 will,
T o t a l.............. .$6,450,410 $6,458,381
Total ............... SO,450,410 $6,458,381
without doubt, be sufficient to justify larger dividends. Application will
\NIPISSING MINING CO. INCOME ACCOUNT (OPEIl. COMPANY).
be made as soon as possible for the listing of the shares o f the traction com
1911.
1910.
pany on the T oronto, Montreal, L ondon and Brussels Stock Exchanges.
1911.
1910.
Gross val. of ore.*$2,820,257 $2,984,084 Cost min’g, &c__ S772.184 S809.650 As soon as a substantial m ajority o f the shares o f each com pany has been
Other Income___
47,108
52,669 Dividends____ — 1,843,297 2,127,500 deposited, the exchange will becom e effective.
Applications for exchange must be lodged at one o f the bankers named
Balance, surplus S‘251,944
$39,603 for the deposit of shares not later than Sept. 1 1912.
T o t a l................ $2,807,425 S3,036,753
The shares of the traction com pany delivered in exchange will rank fo r
* The item of gross value of ore In 1911 ($2,820,257) is made up ns follows: Gross dividends as from A ug. 1 1912, and accordingly all shares and share war
settlements for the year 1911, S3,239,229 find. 1910 ore paid for in 1911, $801,411); rants will be received for exchange ex any dividend declared on or before
gross value of ore at mine, In transit and at smelters, Dec. 31 1911, $640,041; total Aug. 1 1912, and such dividends must be claimed before deposit.
$3,879,269; less gross value of custom ores purchased, $142,011, and gross value of
For the purpose of adjusting dividends on the shares of the Sao Paulo
inventory, Dec. 31 1910, $916,971, leaving gross value 1911 ore, S2,820,257.
Tram way, Light & Power C o., L td., to Aug. 1 1912, the board of that com
pany, if the exchange becomes effective, will declare a special dividend o f
**■ NIPISSING MINING CO. BALANCE SHEET DEC. 31.
five-sixths of 1 % , payable to all shareholders of record on Sept. 1 1912,
A
1910.
Liabilities—
1911.
1910.
1911.
such special dividend covering the month of July at the rate of 10% per
$250,000 annum. All holders of certificates of deposit in respect o f certificates of
Mining property. . $250,000 $250,00( Capital stock____ $250,000
247,830
175,002 Acc’ts payable, Incl.
Plant, equip., &c.
shares and share warrants o f the Sao Pardo Tram way, Light & Power Co.,
23,430
23,430
Cobalt City bonds,
132,588 L td ., will receive this dividend after surrender of the certificates of deposit
cst. taxes.........
205,909
040,041
916,972 Accr’d exp. on ore
62,810 and the issue of the shares of the traction com pany In exchange therefor.
ore at smelt's, A c.
30,159
4,406
766 Divs payable___
Acc’ts receivable..
455,000
450,000
A special certificate of deposit will be issued to" holders o f certificates o f
975,038
Cash ___________
487,033 Surplus ................ 1,204,743
952,799 subscription in respect of the new shares of the R io de Janeiro Tram way,
Light & Power C o., L td., which ore not yet fully paid up when such cer
Total
.$2,140,811 $1,853,203
T o ta l................ $2,110,811 SI,853,203
tificates of subscription are deposited with the application for exchange; but
-V . 94, p. 1000.
such certificates o f subscription will only be accepted after the paym ent of
the installment of 25% due Aug. 1 1912, and the special certificate will
state that certificates of shares or share warrants will be issued on and after
G E N E R A L IN V E S T M E N T N E W S
N ov. 1 1912, in exchange for the special certificate of deposit and upon pay
ment o f the installment of 30% due N ov. 1 on the new shares o f the R io
de Janeiro Tram way, Light & Power C o., I td.
R A IL R O A D S , IN C LU D IN G ELECTRIC R O AD S.
Application for exchange and deposit o f share certificates m ay be made
in London, Eng., at Bank of Scotland, 30 BIshopsgate, E . C.; in T oronto,
Alton (111.) Jacksonville & Peoria (Electric) R y .—
at the Canadian Bank o f Commerce, and In Brussels at Caisse Generate de
The Court has authorized Receiver F . E. Butler to issue $150,000 cer Reports et des Depots. The following banks will receive applications with
tificates to com plete the road from A lton to Jcrscyvllle.— V . 93, p . 1323.
share certificates and share warrants and forward the same at the risk of the
to the proper bankers for exchange: (a) A t Brussels: Banque de
Augusta-Aiken R y. & Electric Corporation.— P r o p o s e d owner
Paris ct des Pays Bas; Caisse Generale de Reports et de Depots; Banque
H y d r o -E le c tr ic
P l a n t — C o n tr a c ts — P r o p o s e d
S a le
of
82 , Internat. de Bruxelles; Banque d'O utrcm er; Banque Nagclmackers Fils
& Cie; Deutsche Bank; E . Stallaerts & Leowcnsteln. (b) A t Liege;
500,000 G u a r a n te e d ls< M . 5s a n d $750,000 5 % P r e f . S t o c k o f Banque
I.iegeoise; Banque Nagclmackers Fils & Cie. (c) At Antwerp:
G e o r g ia C a r o l i n a P o w e r C o . — O p t i o n . — The Phila. "Financial
Banque de Reports de Fonds Publics ct de Depots, (d) A t Bale: Swiss
Bankverein;
Banque Commerclale de Bale; Banque Fcdcrale. (c) A t Rio
Bulletin” states that the shareholders vote to-day on:
de Janeiro: British Bank o f South Am erica. See also V . 94, p. 1762.
(1) Proposed agreement between the Gcorgia-Carollna Power C o.,
Georgla-Carolina Investment C o., Augusta-Aiken R y. & E lectric Corpora
• Bridgton & Saco River R R .— S o l d to M a i n e C e n t r a l .— *
tion and Electrical Finance Corporation, providing for the construction and
See that com pany below .— V . 04, p. 1625.
lln,mclng of a proposed hydro-electric plant and system upon the Savannah
R iver at the mouth of Stevens Creek.
Central Railway Co. of Canada.— R e s ig n a t io n o f P r e s i d e n t .
(2) Proposed agreement that the aforesaid plant shall be operated in
lio n . Archibald Campbell has resigned as President and also as a director;
perpetuity by the Augusta-Aiken R y. & Elec. Corp.
E.
Goff Penny also resigned as a director. W . D. Hogg, K . C., o f Ottawa,
(3) The guaranty b y the corporation o f the paym ent o f interest upon the
1st M. 5% 40-ycar sinking fund gold bonds of Georgla-Carolina Power Co. and E . W illson Smith o f Montreal were elected directors to fill vacancies.
— V . 95, p. 110.
not exceeding $5,000,000, of which $2,500,000 are to be issued at once.
(4) The guaranty o f quarterly dividends from July 1 1915 at 5% per
Chesapeake & Ohio R y. of Indiana.— S e c u r i t i e s A u t h o r i z e d .
annum on $750,000 pref. stock o f Georgla-Carolina Investm ent Co.
The P. S. Commission of Ohio has granted the application to issue
(5) R atifying a proposed syndicate agreement of July 1 1912 between the
Electrical Finance C orporation, R edm ond & Co. and J. & W . Seligman & $132,700 additional stock and $929,000 first M. 5% 20-ycar bonds, the
latter to be sold at not less than 80. The recent previous newspaper report
Co., o f New Y ork, as syndicate managers, and the subscribers thereto,
providing for the underwriting o f said $2,500,000 bonds and said $750,000 that the Commission had denied the application to issue the bonds was in
pref. stock and for purchase o f so much thereof ns shall not be subscribed correct. The Commission Is generally opposed to the sale of securities
below par, but waived the rule in this case because the property is m ostly
for b y the stockholders of A ugu sta-A iken R y . & Elec. Corp.
outside of the State, and the issue has already been sanctioned by
[J. G. W hite & Co. arc thp engineers and contractors retained by the situated
Georgia Carolina Power Co. on the aforesaid hydro-electric development the Indiana authorities.— V . 95, p. 47.
at Stevens Creek, on the Savannah River, about 9 miles northwest of Au
Chicago Subway Co.— N e w S e c u r i t i e s to be R e a d y J u l y 22.
gusta, Ga. The dam will have an average height of 34 ft. (flash boards 3 or 4
The reorganization com m ittee gives notice to all holders of certificates
ft. high also provided), and length of 2,300 ft., with a lock about 30 by 150
ft. for pole boat navigation. The power house will be at the Georgia end of deposit of the National City Bank of New York, as depositary under
of the dam, and for the ultimate installation of 18,000 k, w. (in ten main modified plan of N ov. 14 1911 (V. 93, p. 938, 939, 1386), that on and after
units), will be above 300 ft. in length. Average head 27.3 ft., extremes July 22 file securities of the new Chicago Utilities Co. will be ready for de
16 and 32 ft. Present installment will Include 5 main units. Transmis livery at said depositary on surrender of the certificates of deposit. The
sion lines will be constructed to Augusta, 10 miles: Augusta to Granltcvllle new bonds “ Series A ” given for the assessments will bear interest from
S. C., 17 miles; total, 27 miles: to be operated at 33,000 volts. Generation April l 1912, the item of interest on the assessments paid being adjusted
voltage, 2,300. Tills work will be com pleted early in 1914 and the cost as provided in the plan.
E x t e n s i o n o f R e c e iv e r s ' N o t e s . — The funds in the hands of
will be about $2,500,000.] Compare V . 94, p. 205.
Bay State Street B y ., Boston.—
A p p l i c a t i o n to I s s u e N o t e s .
The com pany has petitioned the Massachusetts ltR . Commission for
authority to Issue $2,000,000 coupon notes to fund floating debt. A hear
ing will be held on July 24. Tin- notes are to be dated Oct. 1 1912, carry
5% interest and arc payable in 20 annual installments, viz.: 1913, $25,000;
1914, $31,000; 1915, $37,000; 1910, $13,000; 1917, $50,000; 1918, $57,000;
1919, $04,000; 1020, $72,000; 1921, $80,000; 1922, $88,000: 1023, $97,000;
1024, $106,000; 1925, $110,000; 1020, $120,000; 1927, $130,000; 1928,
$118,000; 1929, $160,000; 1930, $174,000; 1031, $188,000; 1932, $202,000.
— V. 04, p. 1507.
Boston & Albany R R .—
P rop osed
J o in t E q u ip t.
T r u s t .—
‘ ‘ Boston News Bureau,” July 10, says: “ It Is understood that arrange
ments will be perfected In the not distant future for an 'equipm ent trust’
financed join tly by the New H aven and the New York Central or by the
New Haven and the Boston & A lbany R ll . C o., to provide for some $0,
000,000 purchases of new cars and locom otives for the Boston & A lbany.
A nticipatory of the contracts to be closed, bids quietly solicited recently
from various equipm ent com panies were opened yesterday. They cover
the construction of 4,000 b ox, 800 coal, 400 flat and 100 ballast cars, 20
steel passenger, 8 mail and 3 dining-room coaches and 21 locom otives. All
tills equipment will be of the m ost modern ty p e.”
Practically all replacements and additions to rolling stock made since
the lease a dozen years ago have been with New York Central equipm ent.
There arc now only a bou t 2,700 freight and considerably under 500 passenger
cars belonging to the Boston & A lbany, a number far too meagre for running
the road as a separate entity; but, through an arrangement maintained up to
July 1 1911 cars needed In operation were freely furnished by the Central.
W ith the establishment oil that date, how ever, of Boston supervision of
the A lbany, under the pact entered into between the Central and the
New H aven, the equipment arrangement in question was discontinued,
and the A lb a n y’s car-hire expense during the past year has consequently
shown disadvantageous increases. It Is with a view to equalizing this con
dition that the new purchases are now contem plated.— V . 94, p. 1625.
Brazilian Traction, Light & Power Co., L td . — O f fi c ia l
- N e w T e r m s . — President F. S. Pearson in a circular
dated at Montreal, July 15 1912, and addressed to the share
holders of the constituent properties, says in substance:
C ir c u la r
Your respective boards have derided that it Is advisable In the interests
of the shareholders to bring your three companies together through an ex
change o f shares o f these com panies for the snares of the Brazilian Traction]
Light & Power Co., Ltd ., and that com pany lias been Incorporated [July 12,
under the laws o f the Dominion with an authorized capital of $120,-
the Court were not sufficient to take care of the 51,030,000
due July 1 on the 6 % receivers’ notes of 1911, and the issue
has therefore been extended at same rate until July 1 1913.
The $3,500,000 5%, receiver’s certfs. due A p r. 1 1912 were paid at’ m aturity.— V . 94, p. 1185, 1118.
Chicago Utilities Co.—
N e w S e c u r itie s R e a d y .—
See Chicago Subway Co. above.— V . 94, p. 1050; V . 95, p . 47.
Cleveland (Electric) R y .—
P r o b a b le S t o c k I s s u e .—
“ New York News Bureau” of July 18 says: “ Henry Davies, Secretary
and Treasurer, says that the directors at a meeting on Saturday (to-day)
will consider the issuance of $2,500,000 to $3,000,000 stock to pay for im
provements under way which were authorized by the C ity Council early
this year, and possibly the sale of additional stock to take up $5,000,000
Cleveland Electric R y . 5% bonds maturing Mch. 1 1913. If the refunding
of the bonds is done by another bond issue, the new bonds will probably be
sold in the East: but if a stock issue is decided upon, the new stock will be
offered to stockholders at par.— V . 94, p . 350. *~
Continental Public Service Co.—
I n c o r p .— S t k .
S50,000,000.
The Corporation Trust Co. of America announces the incorporation of
this com pany in Delaware on June 25. The stock Is divided into $30,
000,000 of com m on and $20,000,000 o f preferred. The Dawes interests of
Chicago, also H. M. Byllesby & C o., deny any knowledge o f the enterprise
Incorporators: E. E . M cW hinncy, W m . J. M aloney and Norman Coffin,
all o f W ilm ington.
Commutation Rates.—
N.
J . C o m m issio n
S u s t a i n e d .—
The New Jersey Supreme Court on July 15 decided against the six leading
railroads of the State in their contention that the order Issued b y the New
Jersey Public Utilities Commission on O ct. 4 requiring all roads running to
Jersey City or H oboken to issue com m utation tickets from these points to
other places on their lines within the State is illegal, the traffic being, it was
claimed b y them, intcr-State and not Intra-State. The roads are directed
to submit a new schedule of rates to the Commission. Judge Trenchard
wrote the opinion. It is not announced whether the companies will appeal
to the Court o f Errors and Appeals. Compare V . 93, p. 1105.
Cuba R R .— B o n d s O f f e r e d . — Robert Fleming & Co. offered
in London July 5 to 8 at 9 5 % (N . Y . terms) §2,500,000 of
the present issue of 84,000,000 “ improvement and equip
ment” 5 % 50-yr. gold bonds, due May 1 1900. ■ N. Y . Trust
T H E C H R O N IC L E
176
Co., trustee. The remaining S I ,500,000 of the above bonds
taken by the same firm have been sold in Amsterdam.
D ig e s t o f L etter from P res. VV. C . V an H orn , N . Y . , J u n e 12 1 9 1 2 .
As stated in the annual report for 190D-10 (V. 91, p. 585, 588), the share
holders authorized a m ortgage to secure 5% bonds dated J uly 1 1910 and
payable M ay 1 1960, subject only to the lien o f the 5% 1st M. bonds, and
issuable at not over $12,000 per mile of com pleted railway (exclusive o f
sidings) owned b y the com pany, to provide for the continual increases in
rolling stock and in terminal and other facilities m ade necessary b y the
developm ent o f traffic. Pending the issue o f these bonds, a loan o f $2,
000,000, maturing A ug. 15 1912, was effected (V . 93, p. 727), and since
that time a large amount o f additional rolling stock has been acquired and
additional expenditures have been made for terminals, working facilities
and other additions and improvem ents. The proceeds o f the sale o f these
$1,009,000 bonds will reimburse the com pany for amounts sojexpen ded,
repay the obligations incurred therefor and provide for the capital require
ments o f the near future.
The Government o f Cuba has paid to the com pany on account o f subsidy
for the new Bayamo and Manzanillo lines $495,755, leaving $1,146,461
still due, which am ount is payable by the Government in four equal annual
installments and will be available for later capital requirements.
Outstanding Capitalization with Sale of the $4,000,000 Bonds and the R epay
ment of the $2,000,000 Notes.
First m ortgage 5% bonds due July 1 1 9 5 2 -_ ----------------------------$12,030,000
Im provem ent and equipment mtge. 5% bonds due May 1 I960. 4,000,000
S tock— Preferred, $10,000,000; com m on (all held b y or due to
the Cuba Co), $10,000,000___________________________________ 20,000,000
The first mortgage bonds outstanding represent 6 0 1 miles o f com
pleted railway at $20,000 per mile. The pref. stock represents practically
an equal amount o f cash expended upon the railway beyond the proceeds
o f the 1st M .,and beyond the proceeds o f the $4,000,000 improvement and
equipm ent bonds now being Issued.
Dividends paid on pref. stock: For cal. year 1909, 3 % ; 1910, 4 % ; 1911,
5 % . It is Intended to begin paym ent o f the full 6% in July. [This 3%
semi-annual dividend has been declared payable A ug. 1 to holders o f record
J u ly 1. V . 94, p. 1626.— Ed.]
Earnings— June 30 Years. 1906.
1908.
1910.
1911.
Gross earnings______________ $ l,olu ,0 8 1 $2,039,467 $2,559,335 $3,059,649
.Net earnings________________ $562,525
$721,287 $1,107,209 $1,374,071
Int. on funded debt and note
274,665
365,863
435,210
576,754
Surplus after Interest_______
$287,860
$355,424
$672,089
$797,316
The results for the year ending June 30 1912, estimating June, should
show , after m eeting Interest obligations, a surplus o f $1,100,000— equal to
6 % on the pref. stock and 5% on the com m on stock. The country served
Is prosperous and developing rapidly and the com pany has all along had the
m ost'llberal and considerate treatment at the hands o f the Government of
Cuba. Compare V . 93, p. 727; V . 94, p.. 1626.
Denver & Rio Grande R R .— I m p r o v e m e n t s
following is pronounced substantially correct:
O r d e r e d .—
The
The gross expenditures ordered b y the board for 1912 will approximate
$6,000,000, o f which $2,500,000 will be spent for equipm ent and the rest
o n double track and im provem eht o f terminal facilities. During the last
week orders for 16 Mallet com pound locom otives o f the articulated type
were given to the American L ocom otive W orks o f Schenectady, N. ‘Y.,
and the Baldwin L ocom otive W orks o f Phlla. received an order for 14
M lkado-type freight locom otives. An additional order for 6 passenger
locom otives will be placed within a few days and also a contract for 700 box
cars, 350 coal cars, 100 stock cars and 50 cabooses. A contract for 7 A
miles o f second track between Castle Gate and Kyuhe, Utah, has been given
to Kilpatrick Bros, o f Beatrice, N eb. W ith this stretch com pleted, the
Denver & R io Grande will have a continuous double-track line from Helper
to Tucker, Utah, a distance o f 33.2 miles. Ten thousand tons o f 85-lb.
steel rails will be used In th e specified double-tracking and relaying track
at various points during the com ing summer. A large sum o f m oney has
been appropriated for i m proving terminal and Junction-point facilities
and much side track w 111 be added during the present sum m er.
Surveyors are at work perm anently locating a new 2 % line to take the
place o f the present 4 % grade on the west side o f Soldier Summit in Utah.
Bids for this w ork have not yet been asked for, but on com pletion o f the
su rv ey it Is expected that they will be.
T h e directors have authorized the conversion o f the harrow-gauge line
b etw een Sallda and Montrose over Marshall Pass into standard gauge,
which will give the com pany substantially a double-track standard-gauge
line across the entire State o f Colorado. This Is one o f the m ost important
Improvements to be authorized from the proceeds o f the adjustment In
com e bonds recently sold. The distance to be standard-gauged includes
136.5 miles o f main line and 27 miles o f branch line, the work to be finished
In s ix or eight m onths. W ith this change o f gauge the D. & It. G. will have
624 miles of narrow gauge remaining, or less than 2 5% of the total track
miles. A bou t 400 miles have been converted In the last 10 years.
The board also authorized the expenditure o f about $100,000 for ballast
ing and $150,000 for additional side and yard tracks. Other improvements
o f various kinds authorized will cost In the neighborhood o f $350,000. The
new m anagem ent alms to put the com pany’s facilities In shape to take care
o f any increase in business i\p to 1915.— V . 94, p. 1565.
Elmira (N. Y .) W ater, Light & R R .— B o n d s
A u t h o r i z e d .—
The P . S. Comm, on July 18 authorized the com pany to Issue $201,000
1st consol. M. 5% 50-yr. gold bonds for extensions o f water, natural gas
.and electrical supply and Improvements at Montour Falls.— V . 93, p. 1532.
International & Great Northern R y .—
S ta te m e n t o f J u l y
13.
W hen Thom as J . Freeman was appointed receiver of International &
Great Northern In 1908, following the default of Interest on 2d and 3d mtge.
bonds, he predicted that Its business could increase at the rate o f 10% yearly
In the four years ending June 30 1912, gross revenues Increased 4 7 .7 % , or
a t the rate of nearly 11 % per annum . In the fiscal year ended June 30 1908
total revenues were $6,922,000. Furthermore, the com pany In the cur
rent year enters upon what prom ises to be the greatest traffic year ever
known in the Southwest. Tho co tto n crop, which last year was heavier
than normal. Is expected to bo 1,500,000 bales heavier In u’exas, Okla
hom a and Arkansas than it was last year. The fruit crop will be heavy.
Last year the com pany carried one car-load o f peaches; this year it is pre
paring to handle 1,100 loads.
Since the end of the receivership In Septem ber last, the com pany has
given a good accou nt of Itself. In the 7 'A months from S ept. 6 1911 to
A pril 30 1912 the property earned $860,000 In excess of charges. This Is
an annual rate o f 5% on tho preferred and 20% on the participation cer
tificates outstanding.
•
W hen the com pany was reorganized, the valuation allowed by the Texas
R R . Commission perm itted o f the Issuance of only $1,422,000 com m on
stock . Inasmuch as the $6,500,000 equity of tho 3d intgo. bondholders
necessarily had to be represented b y the com m on stock, reorganizes sur
m ounted the difficulty by organizing a holding com pany which t( ok over
the entire $1,423,000 com m on, as well as $5,078,000 Interim ceri flcites,
representing the additional equity. The holding com pany, on the other
hand, Issued participation certificates to tho amount o f $6,500,000 to
holders of 3d m tge. bonds, whose claims under the reorganization plan were
to be discharged by exchange therefor of com m on in the new com pany. On
this Issue of participation certificates the com pany is now earning at the
rate o f 20% annually In excess o f the dividend claims of preferred stock
holders. The directors declared an Initial dividend of 1% on the preferred
early this week, payable A ug. 1.— V . 95, p. I l l .
Kansas City Railway & Light Co . —
P r o t e c t iv e M e a s u r e s .—
In view o f the foreclosure proceedings brought by the Old Colony Trust
Co. of Boston under the m ortgage o f the Metropolitan Street R y., stock
holders o f the Kansas City com pany are invited to deposit their stock with
a com m ittee, consisting of Oscar Fenley of Louisville, H. T . Abernathy of
Kansas City and George M. Reynolds of Chicago, In the Continental & Com
mercial Trust <S» Savings Bank of Chicago, In order to protect their Itercsts. Deposits must be made b y A ug. 10.— V . 93, p. 1532.
Kentucky Securities Co.—
C o m b in e d E a r n i n g s O p e r . C o s .—
Kentucky Traction & Terminal Co. and Lexington Utllltie Co.
Year ending
Operating
Net
M isc.
Fixed
B a l.,S u r.
June 30—■
Revenue. Revenue. Income. Chnes.,&c.
or Def.
1912...................... ...... $690,044
$264,562 $24,701 $208,251 sur.$81,012
191 1 - ........................ 670,199
103,050
25,119
234,893 def. 16,724
— V. 94, p. 1185.
Kingston & Pembroke R y .—
P rop osed
L ea se,
<fee.— •
The stockholders of the company, which Is controlled by ‘the Canadian
.Pacific, will rote on Aug. 14: (1) On leasing the road to the Canadian Pacific .
[VOL. LXXXXV.
(2) On raising funds to retire outstanding m ortgage debentures, and for
other purposes, and If an Issue of bonds be decided upon to fix the amounts,
rate o f Interest and other terms upon which they shall be Issued, and to
approve the form o f a m ortgage (If any) to be given to secure rc-paym cnt
o f the b on d s.— V . 94, p . 487.
Little Falls & Dolgeville R E .—
N c iv D i r e c t o r . —
Harold S . Vanderbilt has been elected a director to succeed Charles F.
C ox, deceased.— V . 83, p. 272.
Maine Central R R .—
A c q u i s i t i o n o f S m a l l R o a d .—
The com pany has purchased at private sale practically the entire stock
o f the Bridgton & Saco River R R ., a narrow-gauge tw o-foot road extending
from Harrison to Bridgton June., M e., 21 miles, w h ich consists o f 2,045
shares (par $50).— V . 95, p . 111.
Mexico North W estern R y .— £600 ,0 00 ls£ M
. 5s— N e w L in e .
The London Stock E xchange has listed a further Issue o f £600,000 Is
M. 5% 50-year gold bonds, making the total listed £5,600,000.
The com pany is said to be proposing to build an extension from E l Paso,
T e x ., to a connection with the Frisco system In the Texas Panhandle.
Compare V . 94, p. 1627.
Midland Pennsylvania R R .—
D e f a u l t o n B o n d I n t e r e s t .—
Owing to the failure o f the L ykcns Valley Construction C o., the com pany
has defaulted in the paym ent o f the coupons due July 1 on the outstanding
bonds, which are reported to be abou t $800,000 in am ount. The contract
with the construction com pany was annulled b y the railroad com pany on
June 26, only 15 miles o f the road having been graded and no part being in
operation. Parties interested in the road m ay. It Is stated, provide the
defaulted interest and for the com pletion o f the road. Compare V . 95,
p. 47; V . 92, p. 527.
Judge Holland In the U. S. District Court at Philadelphia on July 10,
on application o f the Franklin Trust Co. as holder o f $60,000 notes o f the
Schuylkill & Dauphin Traction C o., appointed John M. S cott receiver of
the construction com pany, which guaranteed the paym ent o f the principal
and interest of the notes, on which default was made on July 1. See also
Schuylkill & Dauphin T raction Co. below .— V . 95, p. 47.
Missouri Pacific R y .—
C o m m ittee on
W a b a sh
P l a n .—
James Speyer, George J. Gould, E dw in Goukl, E . T . Jcflery and E . I).
Adam s, who represents the Interests o f the Deutsche Bank, have been
appointed a com m ittee to consider the position o f the com pany In regard
to the proposed reorganization plan o f the W abash, which as at present
contem plated would Involve an assessment on the Missouri P acific’s hold
ings of Wabash stock of over $3,500,000. See Wabash Item, V . 95, p. 112;
also below.
B o n d s — C h a n g e i n C o lla t. f o r N o t e s .—
Sec St. Louis Iron Mtn. & Southern R y . b elow .— V . 95, p. 111..
Monongahela Valley Traction Co .
-F i r s t P r e f . D i v i d e n d .—
An initial semi-annual dividend o f 2 'A % has I c o n declared on the $2,
500,000 5% non-cum ulative pref. stock, payable A ug. 1 to holders o f record
July 25.— V . 94, p. 1627.
New Jersey & Pennsylvania Traction Co.— R e c e i v e r s '
C tfs.
The Public Utility Commissioners on July 12 approved the Issue o f $200,
000 receivers’ certfs. for Im provem ents.— V . 94, p . 631.
New York New Haven & Hartford R R .— B o s t o n
O f fi c e s .—
W hile the com pany’s office will legally remain in New H aven, as re
quired by the Connecticut charter, a large. If not the greater, part of the
com pany’s business. It is stated, will be transacted from the South Station
at Boston. The station annex has been com pleted and the room s are being
furbished for the administrative and executive officers of the merged sys
tem— the New Haven and the Boston & Maine.
President Mellen has a fine suite o f rooms on the fourth floor, adjoining
that of Vice-President Byrnes, and it is expected that he will spend more
time In Boston than In the past, although he will continue to be during a large
part of the time In New Haven, where he will have a considerable office force.
Commodious quarters have also been provided for directors, who will
probably meet In Boston oftener than they have In the past, which was
only once a year. The supply, ticket and general operating departments
are now at the South Station, and Vice-Presidents Barry and H obbs will
m ove there. The North Station will also be maintained, but the forces
have for convenience been concentrated as m uch as possible under one roof.
— V . 95, p. 48.
Northern Pacific Terminal Co.—
1st M . B o n d s C a l l e d . —
F orty-tw o ($42,000) 1st M. bonds o f 1883 for paym ent at 110 and ln t.
on A ug. 5 at Farmers’ L oan & Trust C o.— V. 94, p. 208.
Northwestern Ohio Railway & Power Co.—
A u t h o r i z e d .—
The Ohio P. S. Commission has authorized the com pany to issue $1,
100,000 1st M. 5% gold bonds, $500,000 pref. and $800,000 com m on stock,
to purchase the property of the T oledo P ort Clinton & Lakeside R y.
A request to Issue $200,000 additional bonds for Improvements will be
further considered. The $1,500,000 T o l. P . C. & Lakeside bonds and all
o f Its stock are to be retired. See Gas & Electric Co. of Maine in V . 95,
p. 110.— V. 95, p. 48.
Oneida (N. Y .) R y . —
A p p l i c a t i o n to I s s u e S e c u r i t i e s .—
The com pany, 96.13% of whose $2,000,000 stock Is owned by the New
York State R ys., has applied to the P. S . Com m , for permission to lssuo
bonds or other evidences of Indebtedness to amount of $779,510 to re
imburse It for m oney expenditures for improvem ents and betterments from
July l 1907 to A ori! 30 1912, Including new car shops $380,836 and signal
system $100,912.— V . 84, p. 1428.
Pittsburgh F t. W ayne & Chicago R y .— L i s t e d . — The New
York Stock Exchange has listed 1151,993,400 additional guar
anteed special stock, making the total amount listed $50,
026,300. The additional stock covers:
Gondola and fiat ca rs______ $794,887(Third and fourth tracks ____ $94,972
B o x c a r s ___________________
C4,204(Traok elevation____________ 608,001
Passenger & baggage ca r s -- 211,731 (R eal estate & right o f w ay- 83,913
Station houses
_____ ____
73,744 (Miscellaneous________________62,213
— V . 04, p. 1627.
Rochester Corning & Elmira Traction Co.— R e c e i v e r s h i p .—
Justice Glegerlch in tho Supreme Court in this city on July 18 appointed
Gray, a judgtnent Creditor, for $34,620, receiver. \ ?o7,p1.1664.
William
St. Louis Iron Mountain & Southern Ra lway — D i v i d e n d s
4 % B e i n g D e c l a r e d . — The company, 844,336,600
of whose $44,396,573 capital stock is owned by tho Missouri
Pacific Ry. Co., has declared an annual dividend of 4 % . No
payment was made for the preceding year, 6 % being paid for
1909-10, 4 % for 1908-09, 5 % for 1907-08, 1 4 % for 1906-07,
7 % in 1905, 10% yearly from 1902 to 1904, 6 % in 1900 and
1901 and 2 % in 1899.
R esu m ed ,
N e w B o n d s — C h a n g e i n C o l la t e r a l f o r M o . P a c . R y . N o t e s .—
Speyer & Co., it is understood, have contracted to purchase,
with a view to sale when market conditions favor, $27,097,000
6 % bonds, dated July l 1912 and due in 1952, being part of
the new issue of $200,000,000 authorized by the shareholders
on July 9 (V . 94, p. 1250), to be issued with interest rates not
to exceed 6 % .
Union Trust Co. of N. Y . and Benjamin F.
Edwards, trustees. The “ Wall Street Journal” states that
the bonds will be convertible into stock.
Uses to which Part of Proceeds o f said $27,097,000 Bonds will be Applied.
Cancellation and retirement of Im provem ent bonds outstanding $11,300,000
Reimbursing co. for cancellation o f 3-yr. notes dated J ne 1 1911 8,o00,000
Reimbursing Missouri Pacific R v. Co. for advances made on aceount o f new acquisitions, extens., botterm ’ta & e q u ip m en t-.
6,000,000
Purposes for which Remaining $172,003,000 lids, are Reported as Reserved.
Refunding $134,389,000 underlying bonds issued or Issuable, v iz.:
General con sol, railway and land mtge. b on d s-----------------------Unifying and refunding bonds
------------------------------------- 40,000,000
River and G ulf divisions 1st M. b on d s. ------------------------------ 50,000,000
Pine Bluffs & W estern III!. 1st M. bonds -------------------------SSS'RRR
Refunding equipm ent obligations at in a tu ilty .---- ----------------- ^ '^ 8 ,0 0 0
T o aid In refu nd ’g, extend’g or rctir’g underlying bds. not o v er. 10,000,000
Future acquisitions and additions, new rolling stock, real estate
under restrictions In m ortgage---------------------------------------------- 22,586,000
I n c o n n e c t i o n w i t h t h e is s u e o f t h e n e w b o n d s a r e - a r r a n g e
m e n t o f t h e c o ll a t e r a l f o r t h e M is s o u r i P a c i fi c 3 - y e a r n o t e s
l i a s , i t is r e p o r t e d , b e e n a g r e e d u p o n b e t w e e n t h e M is s o u r i
P a c ific a n d S p e y e r & C o . , w h ic h p r o v i d e s t h a t f o r § 1 1 , 3 0 0 , 0 0 0
M is s o u r i P a c i fi c r e f u n d i n g b o n d s a n d § 8 , 5 0 0 , 0 0 0 I r o n M o u n
ta in n o te s th e r e s h a ll b e s u b s t it u t e d w ith th e tr u s te e $ 1 9 ,
5 0 0 ,0 0 0
o f th e n e w Ir o n M o u n t a in r e fu n d in g m o r tg a g e 6 %
b o n d s w h i c h t h e M i s s o u r i P a c i fi c w ill a c q u i r e .
T h e M is s o u r i
P a c i f i c w ill a l s o r e p la c e t h e $ 7 , 0 0 0 , 0 0 0 W a b a s h p r e f . s t o c k
w i t h $ 2 , 5 0 0 , 0 0 0 I r o n M t n . s t o c k n o w h e ld in M o . P . t r e a s u r y .
Collateral for $25,000,000 M o. Pac. 3- Year Notes After Satd Chanties.
St. Louis Iron Mtn. & Sou. new 1st & ref. 0% b on d s-----------------$19,500,000
do
do
do
capital s tock _________________________
2,500,000
Missouri Pacific 1st & refunding 5% bonds o f 1959--------------------- 1,972,000
Denver & R io Grande R R . pref. stock _________________________
do
do
com m on s tock -------------------- , , ------------ 15>00£’ 2l!!!
Texas & Pacific com m on stock -------------------------------------------------5.000,000
do
do
5% notes-------------------------------------------------------£28,380
a50,000
Concordia Coal Co. 1st M. 5% b on d s----------------------------------- ------Baring Cross Bridge Co. 7% stock ---------------------------------------------150,000
125,000
Pueblo Stock Yards Co. stock -------------------------------------------------W estern Coal & Mining Co. s to ck --------------- ------------------------------1,000,000
T h e S t . L o u i s I r o n M t n . & S o u t h e r n R y . C o . 's s t a t e m e n t
f o r t h e 11 m o s . e n d i n g M a y 3 1 1 9 1 2 , it is s t a t e d , s h o w s a s u r
p lu s o v e r f ix e d c h a r g e s o f a l m o s t $ 2 , 0 0 0 , 0 0 0 . — V . 9 5 , p . 1 1 2 .
( E l e c t r i c ) R R .—Bonds
C o .— T h e L o n d o n
J o i n t S t o c k B a n k , L t d . , o n b e h a l f o f t h e o w n e r s , o ffe r e d f o r
s u b s c r i p t i o n o n J u ly 8 a n d 9 a t 9 8 J ^ % $ 8 8 0 , 0 0 0 “ fir s t a n d
r e fu n d in g m o r t g a g e 5 % g o ld b o n d s ” d u e D e c . 1 1 9 3 9 , b u t
r e d e e m a b l e a t 1 0 5 o n a n y in t e r e s t d a t e , g u a r a n t e e d b y e n
d o r s e m e n t o n e a c h b o n d , u n c o n d itio n a lly a s to p r in . & i n t .,
b y th e Illin o is T r a c t io n C o .
I n t . J . & I X , w ith o u t d e d u c tio n
fo r U . S . ta x e s .
T r u s t e e , Illin o is T r u s t & S a v in g s B a n k ,
S t.
L o u is
S p r in g fie ld
&
P e o r ia
Offered Guaranteed by Illinois Traction
C h ic a g o .
An
a d v . s h o w s in s u b s t a n c e
(V .
9 0 , p . 3 0 4 ):
Preferred stock, authorized, $2,400,000; Issued------------------------ $2,275,000
Comm on stock, authorized, $5,450,000; Issued-----------------------5,450,000
First & ref. M. 5% 1939 bonds; total auth., $15,000,000; Issued
(Including those Just offered)-------------------------------------------------- 3,195,000
Prior Hen bonds, secured on part o f tho property, to retire
718,000
which first and refunding 5s arc reserved--------------- -----------Balance of “ first & re f." 5s reserved for various purposes,
under conservative restrictions------------------------ $ li,oo7 ,0 0 0
Gen. M. 5% bonds, 1939, secured b y lien Junior to that o f the
“ first & r e f.” 5% bonds; auth., $15,000,Oj u ; outstand ing,_ 3,951,000
W ith the exception of $500,000 o f bonds, which arc Issuable at any time
for 8 0% o f the cash cost of additions and permanent Improvements, the
$11,087,000 “ first and rcufndlng mortgage bonds" can be issued only when
for the preceding 12 months grass earnings have equaled five times and net
earnings 1 % times the interest charges on all bonds outstanding and those
then proposed to be Issued under the m ortgage.
These bonds are secured b y an absolute first mtge. upon all tire property,
(Includingpower-houses and equipm ent), subject only to $718,000 under
lying bonds secured on part of the property. By resolution o f the directors,
tnc principal and Interest on the bonds now offered will be payable at the
head office o f the L ondon Joint Stock Bank, L td ., In sterling at rate of
£205 9s. 7d. for $1,000.
Digest of Information Supplied by President Wm. B. McKinley of the Co.
Organized in ill. Dec. 1 1909 to acquire and consolidate various lnterurban
railway properties operating electrically in Illinois, between Venice, oppo
site S t. Louis, and Springfield, the State capital, a distance o f 102 iriles.with
branch from Staunton to Hillsboro, 23.6 miles. The terms o f the trust
deed provide for tho further acquisition of the lines running northwards
from Springfield to Lincoln, and from Lincoln to Peoria and Bloom ington.
The last named have now been acquired, while the line operating between
Springfield and Lincoln, viz., the Springfield & North-Eastern Traction Co.,
has been taken over under a 40-year lease.
The com pany has long-term contracts, extending beyond the life of these
bonds, for the use of the railway bridge and terminals at S t. Louis o f the
Illinois Traction system , thereby perm itting through trains to S t. Louis.
Comprises an electrically operated railroad of 215 miles o f standardgauge line, 10 miles of belt lines and 21 miles of sidings, a total of 246 miles
of track. Belt lines skirting Springfield, Edwardsville and Granite City
have recently been put Into operation; these will facilitate the transporta
tion o f through freight to and from the freight terminals In St. Louis
and should heavily Increase the volume of freight traffic with a correspond
ing Increase In revenue. Power plants at Peoria and at Venice, installed
generating capacity 8,000 k .w ."'w lth latest types o f steam-turblnc-drlven
machinery. The plant at Venice has recently been com pleted at a cost of
over $650,000. The cars and locom otives are among the largest and finest
In existence, the m otor cars having four 100 h.p . motors designed for a
speed o f 45 to 50 miles an hour. Replacement value o f physical property,
excluding franchises and good-will, was estimated at beginning of 1910
b y Independent engineers at $8,406,000; subsequent additions and improve
ments, $2,549,401; total Dec. 31 1911, $10,955,401, or more than 2 % times
the total outstanding bonds ($3,913,000). For 170 miles the main line
right o f way, averaging 65 ft. in width, is owned In fee and operated under
the steam railroad law of Illinois. The right to so operate Is therefore per
petual. A bou t 17 miles (in cities and towns) Is operated under favorable
franchises, the shortest of which runs 14 years beyond 1939. The remaining
main-line mileage Is covered by lease extending 12 years till 1951.
The proceeds of the present issue of bonds have been used In acquiring
the new power plant at Venice, 111., the Peoria Lincoln & Springfield Trac
tion Co. and the Peoria Bloom ington & Champaign Traction Co.
Combined Earnings of the Companies Controlled by the St. Louis Springfield
<& Peoria R R . for Calendar Year 1911.
Gross earnings___________$1,196,9881 Int. on $3,913,000 b on d s. $195,650
142,355
Net (after taxes & ren ts).
338,0051Balance, su rp lu s------------Earnings of Illinois Traction Co. (160 M iles), which Guarantees the Bonds—
Four Months ending A pril 30.
1911.
1912.
increase.
Gross earnings_____ _________________ $2,178,927 $2,353,807
$174,940
Net earnings________________________
857,262
951,037
97,375
[See also annual report of Illinois Traction Co. on a preceding page.— Ed.]
Directors: Pres. W . B. M cKinley and V .-I’ rcs. and Treas. G. M. Mattls,
Champaign, III.; Secretary IL A . MacNutt, Montreal; S. II. Powell, New
York; Charles Zllly, Champaign, 111.— V . 94, p. 1120.
S c h u y lk ill
&
D a u p h in
T r a c tio n
Co
.—Receivership. — -
Andrew B . Grcenshlelds of Philadelphia has been appointed receiver.
Tho com pany was incorporated on April 30 1908 and leases for 990 years
the Lykcn & Williams Valley Street R y . The latter borrowed $60,000 on
5% notes due Jan. 1 1914 from the Franklin Trust Co. of Philadelphia,
and the Schuylkill & Dauphin Co. guaranteed the notes, but defaulted In
paym ent of the Interest duo July 1. See Midland Pennsylvania R R . above.
S yracu se L ak e
Sh ore &
N o rth e rn
(E le c tr ic )
R R .— -
The P. S. Comm, has authorized tho com pany to Increase the authorized
pref. stock from $1,000,000 to $1,500,000 and to Issue the $500,000 pref.
stock, tho proceeds to bo used to pay floating debt Incurred for construc......................
ion.— V . 94, p. 417.
177
T H E C H R O N IC L E
J u l y 2 0 19 1 2 ]
U n i o n U t i l i t i e s C o . , M o r g a n t o w n , W . V a . — Sale
of Assets.
T he stockholders will vote to-day on accepting a proposition from the
W est Virginia Traction & E lectric Co. (sec below) for the purchase o f all
the p roperty, franchises, &c., subject to all debts, &c.— V . 92, p. 1033.
(T h e ) U n ite d G a s &
E le c t r i c C o r p o r a t i o n
(c f C o n n .) —
Directors; R . E . Grlscom, S. R . Bertron, George Bullock, H enry Morgan,
H arry Bronner, M. W . Dodge and Samuel J. Dill of New York; Samuel
Insull o f Chicago; S. C. Dunham o f H artford, C onn.; W . W . Grlcst of
Lancaster, Pa.; John S. Jenks Jr. of Chestnut Hill, Pa.; G. E . Shaw, F . M.
Potts, R obert L. Montgomery and John Gribbell of Philadelphia.
Officers: Pres., George Bullock; V lce-Prcsts., It. E . Grlscom and S. J.
Dill; Sec. & Treas., H enry Morgan; A sst. Sec. & Asst. Treas., M. D. Evans.
— V . 94, p . 1696.
W a b a s h R R .—
Opposition.—
T he “ N ew Y ork S u n ” says:
It has becom e quite apparent that the proposed Wabash reorganization
plan will not go through without considerable opposition from the Missouri
P acific, which owns $9,826,200 pref., $2,826,200 com m on and $2,913,200
refunding 4 % bonds. It Is understood that the Missouri Pacific is very
m uch disinclined to pay the $40 assessment, feeling that the new stock
would be very little more valuable than the old and the holders would have
paid out $40 a share. It is understood that the Missouil Pacific would
favor the issuing o f a certain amount o f new securities.
The St. Louis Iron M t. & Southern financing (see above) releases the
$7,000,000 W abash pref. stock that Is deposited as part collateral fo r Mis
souri Pacific notes, and for which it is proposed to substitute Iron Mountain
securities, and makes it possible for the Speyer com m ittee, which has charge
of the relation o f Missouri Pacific with W abash reorganization, to handle
the stock in whatever manner it desires. It m ay sell it or It m ay utilize
It In other ways so as to save to Missouri Pacific some o f the expenses of
the expected heavy assessment on W abash shares. Compare V . 95, p . 112.
A member o f the bondholders’ com m ittee declares that It Is only b y
drastic measures such as the heavy assessment that the Wabash can be
permanently lifted out o f its condition of weakness. Referring to the retire
ment of the 4 % bonds by paym ent half In cash and half In pref. stock, he
said: “ If the plan is to be drastic, there can be no heavy fixed charges or
burdensome amount o f securities issued. Nor can there be an unlimited
am ount of stock. The time has gone by when a com pany can be loaded
down with securities and com plaint made because the Commerce Com
mission does not permit high enough rates to pay dividends on the water.
W e are planning a solid reorganization and one which will last for all tim e.’ .
— V . 95, p. 112, 49.
W a g e s .—
Hearings begun before Arbitration Commission.—
The hearings before the arbitration com m ission on the claims o f the loco
m otive engineers on 52 o f the roads cast o f Chicago ar.d north of Norfolk
were begun on July 14 at the Oriental H otel, Manhattan Beach. Warren
S. Stone, Grand Chief o f the Brotherhood o f L ocom otive Engineers, who
began the presentation of the m en’s side o f the case, said that there are
29,670 engineers involved In the dispute. The increases in wages de
m anded are estimated to aggregate $7,500,000.
The arbitrators arc Daniel W illard, President o f the Baltimore & Ohio
(representing the railroads), P . H . Morrissey, form er President o f the
Brotherhood of Railroad Trainmen (representing the engineers', and five
men seleccted by the Chief Justice o f the U .S. Supreme Court, the presiding
Judge of the U .S. Commerce Court and the U .S. Commissioner o f Labor,
v iz.: Oscar S. Straus, Chairman o f the Commission; Charles Richard Van
llls c. President o f the University o f W isconsin; Frederick N. Judson o f St,
I ouls, Otto M .Eldlitz o f New York (former Pres, o f the Building Trades
Assn j . and Albert Shaw, editor of the "R e v ie w o f R eview s.” — V .94,p .1765.
W a s h in g to n W e s tm in s te r & G e tty s b u r g R R .—
Authorized.
The P. S. Commission of Maryland has authorized the com pany to Issue
$144,000 com . and $100,000 pref. stock and to sell $630,000 1st M. bonns
at not less than 85, to construct 18 miles from B rentwood to Sandy Springs.
The contract for construction has been given to the Columbia Construe. Co.
Five miles have, It is stated, already been built at a cost o f about $100,
000, and it is estimated that the cost per mile for further construction will
be approxim ately $35,000. E lectricity will probably be used as m otive
power, but this, it is said, has not yet been decided.— V . 95, p. 112.
W e s t C h e s t e r K e n n e t t & W i lm i n g t o n E le c tr ic R y . —
Notice.
The reorganization com m ittee gives notice that the coupons having
been paid, the com m ittee is ready to make a distribution of the funds to
the bondholders who deposited their bonds with the protective com m ittee
upon presentation of their certificates o f deposit at the office o f W oelpper,
Crawford & Co., 119 S. 4th S t., Phlla., on and after July 22. T he com
m ittee states that after the paym ent o f all expenses and legal charges, the
am ount to be distributed Is 8 % in cash or $80 on each $1,000 bond, twice
as much as they would have received in any other way.— V . 94, p. 831.
W e s t V ir g in ia T r a c t io n & E le c tr ic C o ., W h e e li n g , W . V a . —
T h i s c o m p a n y , in
c o r p o r a t e d in W e s t V a . o n J u l y 11 w i t h § 4 , 0 0 0 , 0 0 0 o f a u t h .
c a p i t a l s t o c k in § 1 0 0 s h a r e s , o f w h ic h § 2 , 0 0 0 , 0 0 0 is 7 %
c u m u l a t i v e p r e f . , is “ t h e e q u i t a b l e o w n e r o f t h e p r o p e r t ie s
fo r m e r ly k n o w n as C ity & E lm G r o v e R y . C o . o f W h e e lin g ,
W . V a .”
I n a c ir c u la r d a t e d J u l y 1 2 , a d d r e s s e d t o t h e
U n io n U tilitie s C o . o f M o r g a n t o w n , W . V a . ( p . 7 3 o f “ E l .
R y . S e c . ” ) , t h e V i c e - P r e s i d e n t , W i l l i a m M o r r is I m b r i e o f
N e w Y o r k , s a y s in s u b s t a n c e :
New Company— Purchases— New Bonds.—
Underlying the properties o f the City & Elm Grove R y . Co. are out
standing bonds secured b y mortgages thereon, or on different parts thereof,
aggregating $2,134,000, and on the properties o f your com pany, as we are
advised, there arc outstanding m ortgage bonds aggregating $1,193,000, of
which $65,000 is In your treasury. The total and outstanding bonded debt
on the two properties, therefore, is $3,262,000, upon which the annual
interest charge Is $163,100.
The undersigned com pany is Incorporated with an authorized issue of
20,000 shares, $100 each, 7 % cum ulative pref. stock, 5 ,6 0 0 o f which w ill
be Issued if this offer Is accepted; and 20,000 shares com m on stock, 12,500
of which has been or will be Issued If this offer Is accepted; and It hereby
offers to purchase and acquire all the property, assets, franchises, & c., of
the Union Utilities Co. for the sum o f $1,240,000, payable b y delivery o f
$560,000 7% cumulative pref. stock, $200,000 5% 3-ycar collateral notes
and $480,000 com m on stock (all full paid and non-assessable), v iz.: For
the $800,000 Union com m on stock, $560,000 7 % cum . pref. stock and
$400,000 com m on stock; for the $200,000 pref. stock, $200,000 5% 3-year
collateral notes and $80,000 of our com m on stock.
If this offer Is accepted, the undersigned com pany .w ill authorize the
placing o f a "first & refunding m ortgage” upon all Its properties to secure
an Issue of not exceeding $25,000,000 in principal amount o f 30-year 5%
gold bonds; except that $1,565,000 in principal amount thereof will be 6%
gold bonds and will be issued as security for a proposed issue o f $1,250,000
3-ycar 5% notes.
Combined Net E arnings of City & Elm Grove R y. Co. a nd Union Utilities Co.
for 12 M onths ending M arch 31 1912— Total Charges New and Old.
Com bined net earnings____$329,527 lin t, on $1,250,000 new notes .$62,500
Interest on bonded d e b t___ 163,100 |Dlv. on $560,000 new pref__ 39,200
Balance, surplus applicable to com m on 6tock (over 5 % ) ------------- $64,727
No bonds other than the $1,565,000 to be Issued as security for the 3-year
notes as above will be issued except for extensions and Improvements and
fo r the acquisition o f new property, as authorized b y the m ortgage.
IN D U S T R IA L , G A S
AND
M IS C E L L A N E O U S .
A m a r i l l o ( T e x . ) G a s C o . — Bonds.— A . G . E d w a r d s & S o n s ,
S t . L o u is , a re p la c in g , a t a p r ic e to y ie ld a b o u t 6 % , § 1 0 0 ,0 0 0
(c lo s e d ) 1st M . 6 % b o n d s .
A c ir c u l a r s h o w s :
Dated July 1 1912 and due July 1 1915. Interest (J. & J .), also princi
pal, payable at Commonwealth T r. C o., S t. Louis, trustee. Entire Issue
subject to redemption on any Int. date on 60 days’ notice at 101 and int.
Par $500 and $1,000. Proceeds used to pay off other indebtedness and for
new construction. Company operates under franchise running 50 years
from 1906. Owns and controls the entire gas business o f the city , with
population In 1900 o f 1,442, now over 10,000. Owns water and gas plant
and 14 miles of mains; supplies 700 consumers, which, it is believed, will
soon be Increased to 900 or 1,000. Replacem ent value, Irrespective of
178
T H E C H R O N IC L E
franchises, is 5144,800, and upon the com pletion of the improvem ents in
progress will be 5100,000. Price for gas, gross 51 50, net 51 35, per 1 0 00 cu
ft. Stock, 5100,000; 1st M. 0% bonds, 5100,000. Earnings, gross, 11)11,
529,480; total net, 511,553. It is estimated by independent engineers
that upon the com pletion of the new construction the net earnings applica
ble to interest (50,000) on these bonds for the year 1913 will be 516 000
Managed by J. O. and F . .1. Storm , who own the greater part of the stock.
N at. L. & Power C o., of St. Louis, Judson H . Houghton, Pres., is interested.
A m e r i c a n M u l t i g r a p h C o . , C l e v e l a n d .—
Common Dividends.
The 1% dividend paid on the com m on stock on July 15 was the second
disbursement, H of 1% being paid O ct. 1908. A stock dividend was also
declared in A ugust 1907. Compare V . 95, p. 50.
A m e r i c a n P ip e & C o n s t r u c t i o n S e c u r i t i e s C o . , P h i l a d e l p h i a .
'l l i i s c o m p a n y w a s i n c o r p o r a t e d in
D e la w a r e o n o r a b o u t J u ly 12 w ith $ 3 ,0 0 0 ,0 0 0 s t o c k .
A
s p e c i a l d e s p a t c h t o “ F i n a n c i a l A m e r i c a ” o n J u ly 1 7 s a i d :
— Guaranteed Bonds.—
This is a holding com pany to take over 57,000,000 o f American I ipe &
Construction Co. treasury-held bonds and to use them as security for
53,000,000 10-yr. 6% collateral trust bonds; also will issue 51,000,000 8%
pref. stock. The dividend on the pref. stock and the prin. and int. <n the
new bonds are to be guaranteed b y the American Pipe & Construction Co.
1he ob ject is to fund the floating debt of the A m cr. Pipe & Const; uction Co
and to raise new working capital (sec V. 94, p. 205.)
A m e s - H o l d e n - M c C r e a d y , L t d . , M o n t r e a l .—
Earnings, &c.
For the first year’s operations net earnings o f the annual guaranteed
properties, after providing for administration, selling and other expenses
were 5281,348; bond interest and pref. stock dividend called for 5240,000
leaving 541,348 to be carried to the credit o f profit and loss. The com
p a n y’s factories in Montreal were closed dow n for nearly two months while
the plants were undergoing a thorough reorganization incident to amal
gam ation, to effect economies in operation production and distribution
There was written off for depreciation and expenses inclined in the re
organization, 5122,963, leaving a bal. to credit of profit and loss of 8169,568
W . S. Louson has been added to the board. II. H. Ames succeeds
A . C ongdon as a V ice-President.— V . 94, p. 353.
A r i z o n a C o m m e r c ia l C o p p e r C o .—
Sale.—
T he property was sold at Globe, A riz., on July 11 for 51,000,000, to
Charles S. .Smith, President of the com pany, the only bidder, acting in the
interest of the reorganization com m ittee. The upset price was 5500,000.
[VOL. LXXXXY.
Directors: William F . Cox, New York, Pres.: George E . Smith, Atlanta,
Viec-I res - Stanley R . Ketcham , New York, Sec. and Treas.; Edmund B .
Norvell, Murphy, N. C., and F. II. Branstatcr, Bloomfield, N . J.
Execu
tive office at 115 Broadway, N. Y .— V. 89, p. 289.
C i t i z e n s ’ G a s C o . o f I n d i a n a p o l i s , I n d — Bonds Offered.—
T h e r e a r e b e i n g o f fe r e d in I n d i a n a p o l i s a t 1 0 1 a n d i n t . $ 4 0 0 ,
0 0 0 o f t h e n e w “ fir s t a n d r e f u n d i n g s i n k i n g f u n d g o l d 5 %
b o n d s ,” p a r $ 5 0 0 a n d $ 1 ,0 0 0 .
D a t e d J u ly 1 1 9 1 2 , in t . J . & J .
a t B a n k e r s T r u s t C o ., N . Y .
M a t u r it y J u ly 1 1 9 4 2 , b u t
c a ll a b le a s a w h o le o r f o r s i n k i n g f u n d ( b e g i n n i n g J u ly 1 1915) ,
a t 1 0 8 a n d in t .
M o rtg a g e tru ste es, B a n k e rs
T r u s t C o .’
N e w Y o r k , a n d U n i o n T r u s t C o ., I n d i a n a p o l i s .
Offered b y Payne, Bush & Co., the Union Trust C o., O tto F. H auei.
se^ & C o., O. M. Ragsdale & Co. and Newton T odd, all of Indianapolis.
Ih e outstanding $1,OHO,000 of stock is now on a 7 % dividend basis.
Condensed Letfer of Sec.-Cicn. Man. .1. D. Forrest, Indlanap , July 1 12
Organized in 1906 to buy the mains of the Consumers’ Gas Trust Co. an.
to supply Indianapolis’ with gas at 60 cents per 1,000 cu. ft. Over 3,000
people in Indianapolis suhsciibed and paid for 51,050,000 of stock, all o f
which was sold at par or at a premium. The stool: is now quoted at 120 bids
rn e flrst half of 1912 shows net earnings, after maintenance, o f three times
the interest charges on botli tiie outstanding 6% bonds (which we purpose
calling for rede mption) and on the new 5% bonds which your syndicate hapurchased. The proceeds o f the new bonds will lie used for plant enlarged
ments, and when these shall have been com pleted, it is believed that the
net earnings will be four times the interest on the bonds then outstand’g.
Income Account— Cal. Year 1911 and 6 Months ending June 30 (June ’ 12 est.)
Year 1911. 6 M os. ’ 12. 6 M os. ’ l l . 6 M os. ’ 10.
Gas incom e_____________ .$241,147
$142,733
$114,388
$72,242
Coke Incom e______ ______ . 353,779
201,700
161,541
112,137
A m m o n ia .. ____________ . 65,573
34,277
31,274
23,014
T a r ________ _________ . _ 34,763
18,155
15,065
12,612
T ot. operating Incom e. .5695,262
Other incom e___________ .
5,943
$399,865
752
$323,168
551
8220,005
122
Gross i n c o m e .........
.5701,205
Net earns, (after taxes). .5135,249
Bond interest________ __ . 35,109
5400,617
$84,592
18,000
$323,719
$56,377
17,471
$220,127
$30,313
15,146
Net profits____________.5100,140
866,592
538,906
520.167
Balance Sheet M a y 31 1912 (Tital Each Side 81,822 903)
Plant and equipm ent------ 51,696,9571Capital stock ........ ...... ...... .51, 050.000
Furniture and fixtures
14,228 First mrotgage bon d s____
575.000
Materials and su p p lies..
86,575 Main extension debentures
25,000
Bills & a cc’ts receivable
78,935 Accounts p ayable.............
24,343
Miscellaneous _________
0,041 A ccr’d Into est & taxes. _
20,156
C a s h ___________________
37.168 Miscellaneous ___________
12,889
Surplus and reserves.
115,515
Property.— l \tty U nited-Otto by-product coke ovens, water-gas plant,
gas holders, 22 acres of land, 166 miles o f gas mains, chiefly under paved
st’TOts, &c. Cost of real estate, 523,534; m anufacturing plant, 5790,228;
B r i t i s h - A m e r i c a n T o b a c c o C o . — Increase of Stock.—
distributing system, 5780,066; mlscell., $3,129; total, $1,590,957. Com
The stockholders will vote on July 22 on increasing the capital to £ 11 , petent Judges hold that the mains would bring at auction $800,000 to 51,
000,000 b y creating 2,000,000 additional ordinary siiarcs of £1 each, the 000,000 more than the com pany paid fo - them under the c it y ’s option. Tho
2,084,874 ordinary shares to be offered to ordinary shareholders on July 22 m anufacturing plant could not be duplicated at $200,000 m o e than Its
in tiie proportion as nearly as possible of one new share for every two held. cost. The value of the physical property Is therefore three times the bonded
The full amount of the new shares to be paid to one of the bankers of the
debt, which, after delivery of these $.120,000 5% bonds and the additional
com pany in London on the acceptance of the offer, which must be done on
bonds for refunding our present 6% bonds, to be called presently, will
or before Sept. 2. Compare V . 95, p. 50.
consist of 51,020,000 first and refunding 5% bonds having a first lien on
The London Stock Exchange has admitted to official q uotation 4,169,749
the entire property.
ordinary shares of £1 each, full paid.— V . 95, p. 50.
Franchise from the city Issued in 1905 and amended May 22 1912; also
franchises from County Commission granted Sept. 23 1910, and Town of
B u t t e E l e c t r i c P o w e r C o . — Neiu Directors Elected.—
Broad Ripple, granted Jan. 12 1912. None of these has been given any
Eliot W adsw orth and Frederick Strauss of New York have been elected valuation on our hooks.
directors to succeed Copcly A m ory and F . L. Am es, who resigned —
Mortgage limited to a maximum o f 510,000,000, to meet all probable re
V . 93, p. 530.
quirements for many years to com e, viz.: $600,000 in hands of trustee for
refunding the outstanding 6% bonds; 5420,000 now sold to cover cost of
C a n a d a F o u n d r ie s & F o r g i n g s , L t d . , B r o c k v ille , O n t .—
im p r’ts to be com pleted in 1912; remainder issuable only for an am ount
Dividends.— A n i n i .i a l d i v i d e n d o f 3 j / £ % f o r t h e f ir s t h a l f equal to 80% of cost of future im provts. or a d d blon s (or of purchase price
of stock or bonds In other cos. if such arc ever purchased), as certified by
y e a r w a s p a id J u ly 1 5 o n p r e f. s t o c k o f re c o r d J u n e 3 0 .
experts, approved b y the trustee, but only when the annual net
J. A . Mackay & Co., .Montreal and Toronto, w h o offered at 898 per com petent
are twice the interest requirements, including the additional bonds.
share, carrying a bonus o f 25% in com m on stock, the 5150,000 of the present earnings
fund, H o f 1% per year for two years, beginning July 1 1915, and
5960,000 pref. stock not taken by the old shareholders and directors of the Sinking
1% per year thereafter, to purchase the bonds or call them at 108.
constituent com panies, reported:
V. M. Bachman, J. D. Forrest, .). II. H ooker, R obert Lieber.
Capital Stock. Full Paid in 8100 Shares— Transfer Apenls, Montreal Trust Co. W .Directors;
J. M ooney, A . F. Potts, Lorenz Schmidt, Franklin Vonnegut and John
Pref. (p. & d.) stock (7% cu m u lative), auth., 82,000,000; issu ed ,.8960,000 R . W
elch. The stock is perpetually vested, for all voting purposes, in the
Common stock, authorized, 82,000,000; issued___________________ 960,000
Pref. dividends accrue from Jan. 1 1912 and will be payable semi-annually follow ing board o f trustees: Henry Kahn, Gustav A. Schnull, Thomas II.
Spann, Thomas L. Su livan and Lucius I!. Swift. See also V . 95, p. 113.
the first year and quarterly thereafter.
Incorporated [early in 1912 or late in 1911] under Canadian Companies
C l a f l i n ( H . B . ) C o .— Statement for Half- Year.—
A ct and acquired the properties and businesses of the following companies,
6 Months to
Net
D ies, on
Dividends on
Balance,
Total
naturally form ing departments of one large concern, v iz.: (1) James Smart
June 30— Earns.
P f. Stock.
Common.
Sur. or Def.
Surplus.
M fg. Co., L td., Brockville, established in 1854, incorporated in 1881,
1 0 1 2 -----------$263,845
5142,125 (3 % ) $ 114,873
sur. 56,847 $1,647,336
m anufacturing stoves, furnaces, ranges, hot-air generators, la»vn mowers,
142,125 (3 % ) 114,873
1911 ............ 207,672
def. 49,326
1,657,198
hammers, axes and tools of similar character, including all lines of hard
1910 ............ 206,574
142,125 (4% ) 153,164
def. 88,715
1,776,500
ware. The plant will shortly be enlarged to take care o f surplus business.
1909 ---------- 291,833
142,125 (4 % ) 153,164
def. 3,456
1,781,009
(2) Canada Forge Co., m anufactures heavy forgings, such as crank shafts,
1908 (loss).
7,437
142,125 (4 % ) 153,104
d ef.302,726
1,770,058
locom otive parts and similar lines.
(3) Canadian Hillings & Spencer, Ltd.
— V . 04, p. 204.
manufacturers of autom obile forgings and drop forgings of every description
C o l u m b i a G a s & E l e c t r i c C o . — Control Sold.—-A s y n d i c a t e
In copper, bronze, iron and steel. Value of properties as appraised and
current assets at Dec. 31 1911, S i, 124,329; less loans and other current lia o f w h ic h A . B . L e a c h & C o . a r e th e h e a d , a n d in c l u d i n g J . &
bilities, 5120,644; net assets, 5997,085. Price, W aterhouse & Co. report
W . S e lig r n a n & C o . , h a v e p u r c h a s e d a m a j o r i t y o f t h e $ 5 0 ,
the earnings for the cal. year 19 11 (one com pany Included for 9 months
on ly ), after providing for depreciation and Interest on borrowed m oney,
0 0 0 ,0 0 0 s t o c k .
M r. A . B . L each sa y s:
as 890,842, or on estimated basis fo r all the companies of 898,242.
W e have purchased a m ajority o f the $50,000,000 authorized and out
Directors.— John M. Gill, Pres., and J . II. A . Briggs, S ec.-Treas., re
standing capital stock. I do not care to state the amount of cash Involved
spectively Pres, and V .-Pres. Jam es Smart Mfg. Co., B rockville; J. H.
in the transaction, but shares of the stock arc now selling at about 812 50
Housser, T oron to; George P. B rophy, Ottawa; W . II. Com stock, Brock in the market. We will continue to operate the property as an independent
ville; J. T . Dillon, Titusville, Pa.; J. Gill Gardner and T . ,1. Dillon, Pres.
concern, it is not our intention to take on any additional properties
Canada Forge Co., W elland, O n t.; F . C. Billings, Hartford, Conn.
fo r the present at least. It Is a pretty big proposition In itself, as it con
trols all of the gas and electric business In Cincinnati and a number of sur
C a r o l i n a - T e n n e s s e e P o w e r C o . , N e w Y o r k . — Status.— T h i s
rounding towns and cities.— V . 94, p. 1183.
B lu e fie ld s S te a m s h ip
C o . — Sale
of Properly.—
The property was sold on July 11 under order of Judge Foster o f the Fed
eral Court to V ictor Camors of J. H. Camors & Co. of New Orleans for 5160 000, the upset price. The property consisted of nearly 100 banana plantiitlons covering an area of over 61,000 acres in Nicaragua. 30 or more steam
and gasoline vessels, with buildings, farming tools, dories, & c. The
m in ority stockholders have been involved in long litigation with the United
F ru it C o., claim ing damages for alleged violation of the anti-trust law.
It is d en ied by persons "in a position to know ” that the purchase was made
jn the interest of the United com pany.
c o m p a n y , o r g a n i z e d in 1 9 0 9 u n d e r s p e c i a l A c t o f t h e N . C .
L e g is la tu r e , n o w c o n t e m p la t e s th e in s ta lla tio n o n th e H iw a s sq e D i v e r in C h e r o k e e C o . , N . C . , o f t w o h y d r o - e l e c t r i c
d e v e l o p m e n t s w i t h a c o m b i n e d c a p a c i t y o f 5 0 , 0 0 0 h . p . , in
s t e a d o f 3 0 ,0 0 0 h .p . a s fir s t p la n n e d . T h e f o llo w in g d a ta
fr o m th e “ M a n u fa c t u r e r s R e c o r d ” o f J u ly 14 a r e , a s re v ise d
f o r t h e “ C h r o n i c l e ,” p r o n o u n c e d c o r r e c t .
avorablc engineering reports have been made by the Ambursen H ydr. uilc Construction Co., Boston, and Prof. W illiam II. Burr o f Columbia
University. Plans are being carefully worked out, but construction will
not be started until all of the necessary property lias been secured. The
plans contem plate tw o developm ents, each witli dams 150 ft. in height and
1,200 ft. in length on their crests. The lower developm ent is near the North
Car.-Tenn. line, about 12 miles from the great copper-sm elting industries at
Ducktown, where it is expected considerable of the power will be utilized.
The com pany owns in fee about 65% o f the property required, and most
of the remainder is under con tract. The tw o reservoirs will each be about
15 miles long, tile lower covering 2.76 sq. miles, the upper 3.77 sq. miles.
Available storage on a 25-ft. draw -dow n : Lower reservoir, 1,860,000,000
cu. ft.; upper reservoir 2,557,000,000 cu. ft .; total, without dashboards on
the dams, 4,423,000,000 cu. ft. The reports of the U. S . W eather Bureau
show that the headwaters of the Hlwassec R iver are located where the
greatest average rainfall per year for the whole United States occurs. The
drainage area comprises 1,080 sq. miles, densely forested, producing
marked uniform ity of (low.
The financial plans have not been com pletely form ulated as yet. The
capital stock authorized is 55.000,000: Issued, 5250,000. A mortgage au
thorizing an issue of 55,000,000 5% 50-year gold bonds has been executed
to the Standard T r. Co. of N. Y , trustee, and $300,000 temporary bonds
have been issued <V . 89, p. 289.) It is expected that the decision to build
dams 150 ft. high instead of 100 ft., as originally contem plated, will neces
sitate the making of a new mortgage securing a larger amount o f bonds, in
which event the present mortgage will be canceled.
C o n n e c tic u t R iv e r P o w e r C o ., B o s t o n .—
Earnings.—
The com pany reports the following earnings, which arc well lip to expec
tations of the management announced at the beginning of 1912, that the
gross would this year approxim ate $500,000 and the net equal twice the
interest on the outstanding bonds.
Earnings as Officially Deported for June 1912 and H alf- Year ending J u n e# 0.
June
6 M os. I
June
6 M o s.i
1912. 1912.
1912.
1912.d
$79,904
Gross earnings------ 540,860 $227,604 Bond Interest_____ $13,327
N et (after t a x e s ).. 27,669 144,9351Balance .............. ..
14,342
64,941
A considerable Increase in the Income is expected to result soon from the
advantageous contracts for Interchange of power with the New England
Pow er Co. (V. 94, p. 1320),an affiliated hydro-electric enterprise now ufider
construction in the Deerfield River Valley. It is expected that before mainm onths the latter enterprise will he in position to develop some 25,000 h, p.
See also V. 94, p. 627; V. 93, p. 410.
C o n s o l i d a t e d G a s C o . , N e w Y o r k . — Notes Again Extended.
T h e c o m p a n y lia s a r r a n g e d w i t h t h e N a t i o n a l C i t y B a n k t o
e x t e n d t h e $ 5 , 0 0 0 , 0 0 0 o f 5% n o t e s , d u e A u g . 1 0 1 0 1 2 ( s e
c u red b y $ 6 ,2 5 0 ,0 0 0 N . Y . E d is o n C o . s t o c k ) , fo r o n e jy e a r ,
a t th e s a m e ra te o f in te r e s t.
T h e n o te s w ere a ls o re n e w e d
la s t y e a r .— V . 9 5 , p . 1 1 3 .
D a y to n
( 0 .)
G a s C o .—
Common on
4%
Basis.—
A yearly dividend o f 1% was declared some time ago on the $800,000
com m on stock, payable In two Installments of 2% each, the first in May last
the second in N ov. next. This compares with 2% in July 1011, thejflrst
paym ent ever m ade.— V . 90, p. 702.
D i a m o n d M a t c h C o .— Earnings.— T h e e s t i m a t e d e a r n in g s
fo r 6 m o n th s e n d e d J u n e 3 0 w ere $ 9 5 8 ,7 8 5 , a g a in s t $ 8 7 9 ,4 9 0
in 1 9 1 1 a n d $ 7 7 9 , 4 7 4 in 1 9 1 0 . — V . 9 4 , p . 1 3 1 3 .
D o m i n i o n T e x t i l e C o . , L t d . , M o n t r e a l .—
Favorable Decision.
Tho onlnlon of Lord McNaughtcn, on which the recent decision o f the
P r lw CouncU In London was based, denying the application o f the minorltv stockholders of the Dominion Cotton Mills Co. to cancel the lease of
b t t p f r a f J i von at some length In the “ Canadian Journal of Com m erce”
o f July 12. The grounds on which the plaintiffs claimed relief were (1) that
thf»
tVroa ultra vires and (2) that the transaction, was of a fraudulent
character 'and A m ounted’ to a conflseatlon o f the Interests o f the plaintiffs
and other dissenting shareholders. Compare V . 95, p. 42.
E m e r s o n -B r a n t in g h a m
Co.
of
R o c k fo rd ,
111.—
Merger of
Implement Carriage and Tool
C o n c e r n s — T h i s c o m p a n y file d
n o t i c e a t S p r i n g f ie l d , II I, o n J u ly 1 8 o f a n in c r e a s e o f c a p i t a l
s to c k fr o m 8 0 ,0 0 0 ,0 0 0 to 8 5 0 ,0 0 0 ,0 0 0 , fo r th e p u r p o s e o f a b
s o r b i n g th e fo llo w in g a n d p o s s ib ly o th e r c o n c e r n s :
Fhucrson-Brantingham Co. and the Emerson
F'merson-Newton Implement Co., Minneapolis;
Kansas City; Emerson-Brantingham Plough Co.,
lneham Implement Co., Spokane; Gas Traction
1629), Minneapolis; Lacrosse T ool Co., Chicago
C. F. Brantlngham of R ockford, 111., Is Pres, of
Carriage Co., Rockford;
Emcrson-Newton Co.,
Dallas; Emerson-BrantCo. (see V . 04, p. 1189,
Heights.
the enlarged com pany.
E x p r e s s R a t e s . — Order of Inter-State Commerce Commission.
— T h e I n t e r -S t a t e C o m m e r c e C o m m is s io n o n J u ly 8 , a ft e r a n
in v e s t ig a t io n e x t e n d in g o v e r a b o u t 3 y e a r s , m a d e a n o r d e r
re d u c in g th e ra te s to b e c h a r g e d b y e x p r e s s c o m p a n ie s a n d
r e g u la tin g th e ir p r a c tic e s .
T h e o r d e r is s u b j e c t t o a h e a r in g
t o b e g i v e n t h e c o m p a n i e s o n O c t . ft.
Tho decision. It Is stated will cause
average reduction In rates on
......,11
eithouch the reductions range from 10 to o 0 % . unucr
tlu f dedslon the’ United States Is divided Into 950 blocks approxim ately 50
miles sotiare points within each block being dselgnated as com m on points,
and the rates fro n all stations within the block being the same to any other
“ v i block
An appendix to the report gives the principal stockholders
of the companies and shows the Interlacing directorates between the express
companies ahd the railroads and among the express companies themselves.
The onlnlon. of about GOO pages, was written by Commissioner Lane.
Statement Made July 1.5 1912 on Behalf of Express Companies.
Tho report relates to rates and practices of the express com panies. I he
vital thing to the companies Is the question of rates. The report recom
mends a basis of express rates on a zone system which Is entirely new,
totally replacing the present basis o f rates and tariffs.
A ccording to the Commission’s report, It Is conceded that the average
net earnings of the large express companies from present rates are not in
excess of 6 % on the business done— In some cases even less. The proposed
rates would drastically reduce the com panies’ revenue. It Is therefore
obvious that the proposed rates would not produce enough revenue to cover
the cost of business, especially as the changes In methods of business to be
adopted will Increase the cost.
,
... _ . n
Fortunately the Commission has given the express co npanlcs until O ct. 9
to show whether the proposed rates should be adopted,
lh e companies
will meanwhile prepare statements showing what the proposed rates would
produce on business actually done, which inform ation could not have been
known heretofore to cither the Commission or the companies
The question of reasonableness o f the rates Is one that will be decided
judicially b y the Commission In O ctober. The companies are not antici
pating any final action by the Commission that will be destructive.
Unfortunately the question of rates has been up to tills time com plicated
In the Investigation with that o f regulations and practices which the mana
gers of the com panies have been as desirous of changing as the Commission
Itself
The report contains suggestions and directions as to these practices
which have been made by the Commission with the full co-operation of the
com panies. It Is the purpose of the companies to adopt these suggestions
and directions and put them In force with due appreciation to the Com
mission.
S ig n S y s t e m
( E l e c t r i c ) , C h i c a g o .— Pref. Stock
W illia m
W . E a stm a n ,
M i n n e a p o l i s , is
o f f e r in g
a li m i t e d a m o u n t o f t h o 7 % c u m u l a t i v e p r o f , s t o c k a t 8 1 0 0
p e r s h a r e a n d a c c r u e d d iv id e n d , w ith a b o n u s o f 2 o % o i t f i e
c o m m o n s to c k v o t in g tr u s t c e r tific a te s .
A c ir c u l a r s a y s :
F ed eral
Offered.—
Incorporated In N. Y . State In 1905 with $1,000,000 (common) stock
In May 1906 $500,000 7% cumulative pref. stock was a u th orized .. lh-e
auth. pref. stock has since been Increased to $3,000,000, of which $1,808,390
Is Issued and outstanding and the com m on stock to $4,000,000, witn $•»,053,600 outstanding. Of the com m on stock, 00% Is held In a voting trust,
Samuel Insull, John II. Goehst and John F. Gilchrist being the voting trus
tees. lias paid regular dividends of 7% per annum (Q .-F.) on its outstand
ing pref. stock since first issued— In May 1906. In addition to the home o iflcc has 18 branch offices, from which operations In 50 cities and towns
are conducted. Thus operates in N. Y „ Chi., Phlla., Balt., Plttsb., Cine.,
Kan. City, Loulsv., St. L ., New Orl., D et., B uff., Columbus, S. Fr., « c . ,
and will eventually Include every city or town o f Importance, manufactur
ing selling renting and operating electric signs, and embracing the entire
field o f electric sign and display advertising
A t the last annual meeting, Samuel Insull, Pres, of the Commonwealth
Edison Co. o f Chicago, W . VV. Freeman, V.-Pres o f Edison Elec. Ilium. Co.
o f Brooklyn, N . Y ., and Edward P. Russell of Russell, Brewster & Co. of
Chicago wero elected members of the board. All. Insull has been made
Chairman. The purchase during the past year of the Federal Elcctrlo Co.
of Chicago and the sign department of the Metropolitan Engineering Co. of
N. Y ., both doing a large business In the manufacture o f electrical devices,
and the acquisition o f a contract for the exclusive sales rights for all tne
product of the Chicago Miniature Lamp W orks enables the com pany to
manufacture a large variety of electrical goods, greatly Increasing Its profits
In the merchandising end o f the business.
,
Operations for Fiscal Years Ending March 31, Showing Ilapid Development.
1907-08. 1008-09. 10(9 -1 0 . 1910-11. 1911-12.
Gross, incl. merch. sales. $90,036 $101,650 $253,950 $663,100 $1,286,716
Net, after reserve........ .
$6,319 $13,660 $35,300 $82,510 $140,869
Pref d lv. (7 % ) __
5,521
0,339
10,739
30,774
77.930
Bal surplus for y ea r.
$798 $4,321 $15,561
$61,735
$62,939
Total surplus......... ......- $2,092 $0,414 $21,994
$83,709 $146,648
Contracts 2 to 5 yrs N o.
570
1,019
2,453
3,218
4,903
Do yearly revenue .. $109,270 $178,200 $414,215 $553,277 $812,908
The emnnanv did a profitable merchandise sales business during the fiscal
year 1910 o f over S200.000, 1911 of o er $340,000 and 1912 o f over $500,
000, in addition to Its sign rental business.
Balance Sheet of Federal Sign System (Electric) March 23 1912.
1912.
1911.
1911.
1912.
Liabilities—
5
$
$
729,100
Pref. stock _____ 1,795,000
P rop’ ty, franoh.,
patents, & o .-3,997,062 2,478,315 Common s t o c k .-3,053,600 2,100,000
oa « m
03,667
28,640
Material on hand 310,021
128,201 A cc’ ts p a y a b le.160,151 A ccr’d charges
A cc’ ts & bills rco. 190,426
8,984
12,490
for el.CurrentC a s h - - ..............
154,006
27,309
7,568
Undivided profits
Investments —
61,510
Def. charges (be
Reserve for de68,236
170,220
ing written off) 466,413
preo’n, & c—
>0,128
73,550
148,648
Surplus________
A s se ts—
Totals
. - - 5 , 209,408 3.056,105
Totals ........... 5,209,498 3,0 5 6,lOo
The com pany’s annual report for 1911-12 said In part: “ During the year
contracts were made with S t. Paul and Minneapolis and an office opened
In the larger city. Tw enty-four contracts were m ade-for tho purchase o f
electricity: some with com panies operating In single towns, others with com
panies operating groups of towns. A rental business Is being carried on un
der all of these contracts. A factory and sales office has also been opened
at San Francisco.”
Directors: John II. Goehst, Pres.; John F. Gilchrist, Trcas.; James M.
Gilchrist Sec.; Herbert I. Markham, Gen. Man.; Samuel Insull, Chairman;
W . W . Freeman and Edward P. Russell.— V . 94, p. 829.
G a s T r a c t i o n C o . o f M i n n e a p o l i s .—
Merger.— •
See Emerson-Brantingham Co. of R ockford, above.— V . 94, p. 1189,1629.
G o o r g i a -C a r o J iu a P o w e r C o .
-Guaranty, &c.—
See Augusta-Alken R y . & Electric Corporation under Railroads above.
179
T H E C H R O N IC L E
J u l y 20 1912 ]
T r u n k T e r m i n a l s W a r e h o u s e C o . , L t d ,— Bonds
M c C u a ig B r o s . & C o ., M o n tr e a l, O t t a w a , & c ., a re
o f f e r in g a t 9 5 a n d i n t . , c a r r y i n g a 5 0 % c o m m o n s t o c k b o n u s ,
G ran d
Offered.—
$ 5 ,0 0 0 ,0 0 0
6%
3 0 -y e a r s in k in g fu n d b o n d s .
Dated A ug. 1 1912 and due A ug. 1 1942, but redeemable, all or any, at
105 and int. on or after A ug. 1 1915. Int. F'. & A . Par $100, $500 and
$1,000 (c*), and sterling equivalent at $4 86 2-3 to £ . Trustee, Quebec
Savings & Trust Co. Annual estimated net earnings, $697,o00, bond
int., $350,000. Directors: VVm. W ainwrlght, J. E . Dalrymple and R . S.
Logan, all V lcc-Prcs. of Grand Trunk R y .; J. N. Greenshlelds, Pres. Quebec
Sav. & Trust C o., L td.; Godfrey Bird, Gen. M gr., International Bank.
See V . 95, p. 114.
H a l l S i g n a l C o .— Modified
Plan Approved.—
A pproxim ately 9 0% of the stockholders have approved the modified
plan (V. 95, p. 52), thus ensuring Its success.— V . 95, p. 52.
H o u s t o n O il C o . o f T e x a s .— Dividends
Resumed.—
The board o f directors on Thursday decided to pay a 3 % dividend on the
outstanding 6% pref. stock for the current 6 m onths. This Is the first d ivi
dend declared since 1903. The coupons due A ug. 1 on the 6% accrued
dividend certificates will be paid on that date.— V . 94, p. 1252.
Receivers.— -
I m p r o v e d P r o p e r t y H o ld in g C o ., N e w Y o r k .—
Judge Hand in the U. S. District Court in this city on July 15, in the
foreclosure suit instituted by the Equitable Trust Co. under the m ortgage
of June 1 1906, in which separate receivership was asked, and to satisfy all
Interests, relieved Charles C. Burllngham and R obert E . Dowling o f their
appointm ent made last month as receivers In the creditors suit brought by
A lw yn Ball Jr., and m ade Joseph J. O ’ Donohue Jr., the Secretary and
Treasurer o f the com pany, serving without com pensation, sole receiver
In the creditors’ action; also receiver of all the property not covered by the
Equitable Trust m ortgage. The Court then appointed Messrs. Burllng
ham and Dowling as receivers o f all the property Included in the Equitable
Trust m ortgage. Compare V . 94. p . 1510.
I n d ia n a L i g h t i n g C o ,—
Earnings, Including Subsid. Cos.— -
Calendar
Gross
Net
Taxes
Rond Conting. Balance,
Year—
Earnings. Earnings. Paid.
Interest. Fund. Surplus.
1911____________ $1,014,955 $356,102 $21,026 $119,864 $30,000 $185,212
1910- __________
930,017 282,853 20,541 120,000 30,000 112,311
— V . 94, p . 633.
&
In t e r -S ta te
In d e p e n d e n t T e le p h o n e
J o l i e t , & c . , 111.—Receiver Discharged.—
T e le g r a p h
C o .,
Judge Kohlsaat In the U. S. District Court on July 17 m ade an order dis
charging the receiver. FI. J. Marshall o f T oledo, representing. It Is stated,
Ohio capital, is the President o f a com pany which will operate the lines.
— V . 94, p . 1059.
I n t e r s t a t e T e le p h o n e & T e le g r a p h C o . o f N . J
. -Denied —
The New Jersey Public Utility Commission has denied tho application
to Issue $1,525,000 5% 30-year 1st ref. M. gold bonds. The main reason
for the refusal Is that the amount of bonds would be too large to enable the
com pany to pay Interest thereon.— V . 92, p. 192.
(F .
P .)
K e llo g g
Lum ber
C o .,
S e a t t l e .— Bonds
Sold.—
Clark L . Poole & C o., Chicago, announce the sale of the $225,000 1st M.
sink. fd . gold 6s recently offered at par and int. A circular reports:
Dated April 1 1912, due In semi-annual Installments, beginning Oct. 1
1914 and ending A pril 1 1922 (2 of $10,000, 8 of $12,500, 6 o f $17,500), but
callable any int. date at 102 H and Int. Total auth., $250,000. Par $500
and $1,000. Int. A . & O . Trustees, Cent. T r. Co. of 111. and W . T . A b
bott, Chic. A first m ortgage on the entire property valued at $750,000,
including 38,000 acres of Western yellow pine and 11,000 acres of farming
and orchard lands In Chelan C o., W ash., 12 miles from town of W enatchee,
and Immediately tributary to a leading b ox lumber consum ing section.
Strong sinking fund to retire the bonds. Proceeds o f Issue to retire all debts
and to construct saw mill, capacity 50,000 ft. per da y, and b ox fa ctory—
all to be under this mortgage.
(S . S .) K r e s g e C o . ( F i v e -a n d -T e n -C e n t S t o r e s ) , D e t r o i t .
-
Sales for the first half o f 1912 amounted to $4,296,633, an increase o f
$981,325 over the corresponding period in 1911. Estim ated net earnings
show an increase for the same period of about 2 0 % . V . 94, p . 1319.
L e h i g h C o a l & N a v i g a t i o n C o .— New
Officer.—
II. F. Baker, Secretary and Treasurer, has been elected Vice-President
and Secretary in charge o f finance and accounts.— V . 94, p . lo69.
L o u i s v i l l e L i g h t i n g C o .— Payment
on Bonds.—
Notice Is given that on August 1 the com pany will pay to the holders o f
bonds dated F'eb. 1 1910 the sum o f $30 per bond, to be applied upon the
$277 50 mentioned therein, such paym ent to be made on presentaton of
said bonds at the office o f the Central Trust Co. o f N. Y ., fo r endorsem ent
thereon. Compare V . 93, p. 232.— V. 94, p. 283.
( T h e ) M a n h a t t a n S h i r t C o . , N , Y . — Pref. Stock. — L e w i s o h n
B r o t h e r s , 11 B r o a d w a y , N . Y . C i t y , h a v e r e c e n t l y s o l d , a s
s t a t e d in t h e “ C h r o n i c l e ” o f J u n e 2 9 ( p . 1 7 6 8 ) , t h e e n t i r e is s u e
o f $ 3 ,0 0 0 ,0 0 0 7 % c u m u la tiv e p r e f. s to c k .
T h e ir a d v e r tis e
m e n t, h o w e v e r , a p p e a rs a s a m a tte r o f reco rd o n a n o th e r
p a g e o f t o - d a y ’ s “ C h r o n i c l e .”
T h e c o m p a n y is d e s c r i b e d a s
“ t h e l a r g e s t m a n u f a c t u r e r o f h i g h - g r a d e s h i r t s in t h e U n i t e d
S t a t e s , ” a n d it s 1 9 1 2 p r o d u c t , i t is s t a t e d , is a l r e a d y s o l d o u t .
This stock Is preferred as to both assets and earnings. Par value o f
shares, $100. Quarterly dividend dates,O ct. 1, &c. Redeem able at option
o f com pany, in whole or in part, at 120, plus accrued dividends. Sinking
fund provides for the purchase or ultimate redem ption o f the pref .stock at
120. There is also $5,000,000 com m on stock outstanding.
The Manhattan Shirt Co. was incorporated recently in N . Y . State and
has taken over the business and assets o f the New Jersey com pany of the
same name, and also the entire capital stock of the Solway Dyeing & 1 extile
Co. o f R hode Island. See letter o f Pres. Lewis Levi in V. 94. p. 1768.
M a n u fa c t u r e r s ’ L ig h t & H e a t C o ,, P i t t s b .—
Bonds, &c.—
Treasurer G. W . Ratcllffe gives notice that the com pany Is prepared to
receive proposals for the purchase o f bonds of the series of 1900, 1903 and
1907, of which there are outstanding $150,000, $2,350,000 and $2,400,000,
respectively
The com pany gives notice o f Its Intention to call the whole
or the greater part o f the 1903 Issue o f 1st M. and collateral trust bonds on
N ov 1 ($2 350,000 as stated a bov e), the 1914 and 1915 issues being callable
at 102 and’ the three later issues at 103. The com pany is said to have over
$1,250,000 cash on hand, which Is expected to be added to before N ov. 1.
The com pany gives notice that on and after the August reading o f the
meters the rate for natural gas to dom estic consumers in the Pittsburgh
and McDonald districts will be Increased from 30 to 32o. per 1,000 cu . ft.,
subject to the usual discount o f 2 c. for prom pt paym ent. The step, it is
stated is necessary to maintain the efficiency o f the service, ow ing to the
Increased cost of obtaining an adequate supply o f natural gas.— V .9 4 ,p .ll8 9
M a rc o n i W ir e le s s T e l. C o . o f A m .—
Status— Acquisition.— -
See Marconi’s Wire. T . C o..L td ., under” Annual R e p o rts."— V .9 4 , p. 1700.
M a r c o n i W i r e l e s s T e l . C o . o f C a n a d a .—
Status,.Stock, &c.— -
See Marconi Wireless Teleg. Co. under “ R ep orts" a bov e.— V . 93, p . 800.
M a ssa c h u se tts
G as
C o m p a n ie s ,
B o s t o n .—
Earnings.—
---------- June--------------- 12 Afos. end.JuneZQ—
1910-11.
1911-12.
1911.
Earnings of Subsidiary C os. 1912.
$664,815
$655,738
New England Gas & Coke Co__ $72,451 $59,467
1,346,547 1,291,195
Boston Cons. Gas C o--------------- 121,983 105,419
61,630
62,946
4,646
4,712
East Boston Gas C o----------------21,438
19.970
2,311
2,950
Citizens’ Gas Light C o------------77,986
72,352
5,086
6,462
Newton & W atertown Gas C o ..
54,253
55,217
20,859
8,541
New England Coal & Coke C o. _
7,720
5,760
1,644
2,385
Federal Coal & Coke C o----------•9.287
46,748
2,133
1,372
Boston Tow boat C o----------------T o ta l------------------------------------ $2R
•Nino m onths.— V. 04. p. 1700.
$201,565
$ 2,265.279 :$ 2,188,325
180
T H E C H R O N IC L E
[VOL. L X X X X Y .
M i n n e a p o l i s G e n e r a l E l e c t r i c C o . — Bonds, &c.— T h e N a t .
C i t y B a n k , N o r t h e r n T r . C o . a n d M e r c h a n t s ’ L o a n & T r . C o .,’
a ll o f C h ic a g o , a r e p la c in g $ 5 8 2 ,0 0 0 1 s t M . 5 s .
tors are expected shortly to change tho end of thc fiscal year from May 31
to June 30.— V . 95, p. 117, 39.
Dated 1901, due D ec. 1 1034; redeemable as a whole at 110 and int. on
any Int. date. Int. J . & D. Par S I,000 c*. Sinking fund o f 1% per
annum o f bonds issued beginning April 1 1912. A uth., $8,000,000; out
standing, $>7,829,000. A llrst lien on all property, rights and franchises
now owned or hereafter acquired in city of Minneapolis; also secured,
through deposit of securities, by a valuable water power on the St. Croix
Il-P- Mortgage practically closed; only
f i m 2? additional bonds m ay be Issued. Company does the entire electric-nght and commercial power business in the city and several smaller
adjacent towns serving a population of over 300,000. T he Consumers’
1 ovver Co. of Minnesota has recently purchased for cash practically all of
t ie stock, the prer. at $120 and the com m on stock at $200 per share, thereby
Indicating an equity of 37,950,000 over the bonds Issued. Gross earntugs for
1“
ending April 30 1912; Gross earnings, $1,599,770; net, after
taxes, 5915,6o3; annual interest on bonds now outstanding, $391,450.
Pres., H . M. B yllcsby.— V . 94, p. 1511, 1253, 1183.
The follow ing new officers are announced: Vice-Pres., Philip V Sim onds^ f,i7 anciJ rc,a s’ ’, ^ cder¥ c B ’ w 1Icox; Asst. Treas., Robert G. Thackeray;
William Clark o f W esterly remains as President. It is proposed to reduce
office expenses b y having the main office at W esterly and the transfer
offlc3 at the office o f Bo.loll & C o., ProvLience, who now control the
com pany. The directors arc as given in V . 94, p. 1631.
M is s o u r i &
K a n s a s T e le p h o n e C o .—
Acquisition.—
See Topeka Independent Telephone Co. below .— V . 94, p. 915.
N a t io n a l E le c tr ic S ig n a lin g C o .—
Motion Denied.—
Judge Dodge in the U. S. District Court on July 15 denied the m otion for
a new trial in the case of Reginald A . Fessenden against the com pany in
which a verdict for $408,175 was recently awarded to the plaintiff.— V
94, p. 1700.
'
N e v a d a -U t a h M in e s &
S m e l t e r s C o r p .—
SaleConfirmed.—
Judge Hand in the U. S. District Court in this city yesterday confirmed the
sale of the property to the reorganization com m ittee, holding that, although
only one bid was received, due notice was given of the sale and that
there is no reason to believe that other bidders would com e in
See modified
reorganization plan in V. 94, p. 1320.
N ew
E n g la n d P o w e r C o ., B o s t o n .—
Contract— New Plant.
See Connecticut R iver Power Co. abov e.— V . 94, p. 1320.
N ew
Y o r k A ir B r a k e C o .—
Favorable Business.—
A director says "business in the six months ended June 30 1912 was
100% better than In the same period last year. Unfilled orders on hand
July 1 1912 were 0 times those on hand 12 mos. before.” — V. 04, p. 987.
N o r t h e r n S t a t e s P o w e r C o .— $ 5 ,0 0 0 ,0 0 0
Notes All Sold.—
The Guaranty Trust C o., which purchased $2,500,000 0 % 5-year notes,
have re-sold the same. II. F. Bachman & Co., who purchased the remain
ing $2,500,000, have practically disposed of that am ount.— V. 94, p.1701.
P a c i f i c T e l e p h o n e & T e l e g r a p h C o . — Listed.— T h e N e w
Y o r k S t o c k E x c h a n g e h a s li s t e d $ 1 4 , 0 0 0 , 0 0 0 a d d i t i o n a l 6 %
c u m . p r e f . s t o c k , m a k i n g t h e t o t a l a m o u n t li s t e d $ 3 2 , 0 0 0 , 0 0 0 .
Purposes for which $ 14,000,000 pref. stock just listed has been issued.
T o pay for the Coeur d ’Alene telephone system in Bonner, K oote
nai, Shoshone, Latah, Nez Perce an d Idaho counties, Id a h o .- $350,000
T o acquire the submarine telephone cable of the Home Long Dis
tance Telephone Co. (V . 95, p. 52) from San Francisco to Oak
land. and the permit for same, granted N ov. 24 1909, and in
part payment for land and telephone properties acquired in
city and county of San Francisco and in Alameda C o., Ca l . . . 1,300,000
F or cash at par for general extensions, additions and lm provem ’ ts 12,350,000
Earnings.—
For 3
m o n th s e n d in g M c h .
31
1912:
T otal revenue- .................... $3,957,7771 Int. $548,285; divs.$275,250 $823,535
Net (after tax es)------------881,193 Balance, surplus__________
57.858
— V . 91, p. 1701.
P e n n s y l v a n i a T e x t i l e C o . — Listed
on Curb.—
The $2,000,000 com m on stock and $2,000,000 of first M. 0 % bonds have
been listed on the Curb in this city .— V. 04, p. 490.
P o r t o R i c a n - A m e r . T o b a c c o C o . , N . Y . — Increase
of Stock.
The stockholders will vote on A ug. 1 on increasing the authorized stock
from $2,000,00. to $3,000,000.— V. 94, p. 419.
N o t e C o . , P i t t s b u r g h , F a . — Increase of
A t a r e c e n t m e e tin g o f th e s to c k h o ld e r s ,
a n in c r e a s e in t h e c a p i t a l s t o c k f r o m $ 2 5 0 , 0 0 0 t o $ 5 0 0 , 0 0 0
w as a u th o r iz e d .
T h e c o n s t r u c t i o n o f a n e w p l a n t is u n d e r
c o n s i d e r a t i o n .— V . 8 1 , p . 1 6 7 7 .
R e p u b lic
Bank
Stock— New Plant.—
S o u t h e r n S ie r r a s P o w e r C o . , C a l i f o r n i a .— Bonds Guaran
teed bg Nevada-California Power Co. Underwritten in Denver.— •
T h e “ C h r o n ic le ” fo r J u ly 6 ( p . 5 5 ) c o n ta in e d q u ite a fu ll d e
s c r ip t io n o f th e $ 2 ,0 0 0 ,0 0 0 1 st M . 6 % b o n d s , w h ic h , h a v in g
b e e n u n d e r w r i t t e n in D e n v e r , w e r e s o l d t o a n d o f f e r e d b y
s o m e o f t h e la r g e s t t r u s t c o m p a n i e s a n d b o n d d e a le r s in t h e
U n i t e d S t a t e s , t h u s in s u r i n g a w id e a n d r e a d y m a r k e t .
Boettcher. Porter <& Co. and Causey, Foster & Co. of Denver are the
bankers not only for the Nevada-California Power C o., but for the Southern
Sierras Power C o., and it was they that Jointly underwrote this entire issue
of $2,000,000 of bonds and, for the purpose o f marketing them in the East,
associated with themselves tho Continental & Commercial Trust & Savings
Batik o f Chicago and a number of others as sub-underwriters. This issue
is said to be one of tho largest, if not the largest, blocks of bonds ever under
written by Western people. The “ Denver Tim es” says: "T h e officers of
the Southern Sierras Power Co. and the Nevada-California Power Co. are all
prominent and successful capitalists and business men of tbit city, and the
fact that so large an issue of bonds was sold by Denver dealers Indicates the
growing importance of Denver as a financial centre.” Compare V . 95, p. 55.
S t a n d a r d M i l l i n g C o .-—First Common Dividend.— A n in it i a l
d i v i d e n d o f 2 % h a s b e e n d e c la r e d o n t h e $ 4 , 6 0 0 , 0 0 0 c o m m o n
s t o c k , p a y a b l e A u g . 3 t o h o ld e r s o f r e c o r d J u l y 2 7 . — V .
9 4 , p. 1631.
S t a n d a r d O il C o . o f I n d i a n a . — 3 % Quarterly Dividend.—
A q u a r t e r l y d i v i d e n d o f 3 % h a s b e e n d e c la r e d o n t h e $ 3 0 ,
0 0 0 ,0 0 0 s t o c k , p a y a b le A u g . 3 1 . -
This is the first cash disbursement since the segregation o f the Standard
I properties in 1911. A 2,900% stock dividend was paid May 15 1912.
V . 94, p . 420, 631. 702, 831.— V. 04, p. 987.
T o n o p a h M e r g e r M in in g C o
.—Listed on Curb.—
The $1,500,009 stock (par $1) has been listed on the curb In this city.
Topeka
( K a n .) I n d e p e n d e n t T e le p h o n e
Co.-Sold.—
T hc. Properties having been acquired b y the Missouri & Kansas (Bell)
Telephone Co. were physically merged with that com p a n y’s system at m id
night July 13.— V . 93, p. 290.
U n i o n F e r r y C o .— Service
to be Discontinued.—
The com pany has informed Commissioner of Docks and Ferries Tom kins
that thc service o f the Wall and Catharine St. ferries to B rooklyn will be
discontinued after midnight July 28.— v . 94, p. 284
V i r g i n i a - C a r o l i n a C h e m i c a l C o .— Neiv
Director, cfee.—
Alvin W . K rcch, President of the Equitable Trust Co., has been elected a
director of the com pany and also of the Southern Cotton Oil C o., to succeed
Fairfax Harrison, Pres, of the Chicago Indianapolis & Louisville R y ., who
resigned on account of his removal to Chicago.
S. T . Crenshaw, formerly Secretary, and C. E . Borden, assistant to thc
President, have been elected Vice-Presidents. The date of the annual
meeting has been changed to the first W ednesday in Septem ber. The direc
W e s t e r l y ( R . I . ) L i g h t & P o w e r C o .—
W e s t e r n S t a t e s G a s & E l e c . C o .—
New Officers.—
Underlying Bds. Called
All of the outstanding $396,.000 1st M. 25-year 6% gold bonds of the
btockton Gas & Electric Corp., Calif., dated Jan. 1 1909, have been called
for paym ent on Jan. 1 1914 at 106 and int. at Mercantile Trust C o., San
Ira n cisco, trustee.
nnn
.C o m m Ission has been asked to sanction the issue of $800,
,, , ,
bonds, the proceeds to be used for the acquirem ent of the Summerfield ditch, &c., in El D orado County, Cal.— V . 92, p . 1378.
W e s t e r n T e l e p h o n e & T e l e g r a p h C o .—
Liquidation.—
1 he stockholders on July 12 voted to dissolve the com pany. ’The dlrcctors w If set a date for the sale o f thc com pany's assets, when they will be
bid in by the American Telephone & Telegraph C o., which owns 09% o f the
outstanding stock. The practical dissolution of thc com pany and the
re-allgnment of its various subsidiary companies into other operating units
o f the American com pany were effected some time ago and the proceedings
mentioned are merely necessary to com ply with thc law.— V. 94 p 1315
— “ T h e P o w e r o f O c o e e ,” a n i l l u s t r a t e d a n d d e s c r i p t i v e
b o o k l e t — o n e o f th e m o s t a r t i s t i c f o l d e r s t o c o m e t o o u r
a t t e n t io n , w a s r e c e n tly p u b lis h e d b y J . G . W h it e & C o ., I n c . ,
th e w e ll-k n o w n e n g in e e r s a n d c o n t r a c t o r s .
T h is v e r y a t t r a c
t i v e e x a m p l e o f t y p o g r a p h y is a w r i t t e n a n d p h o t o g r a p h i c
d e s c r ip tio n o f a h y d r o -e le c tr ic d e v e lo p m e n t o n th e O c o e e
l t i v e r a t P a r k s v i l l e , T e n n . , w h ic h h a s b e e n b u i l t f o r t h e
E a s t e r n T e n n e s s e e P o w e r C o . a n d n o w c o n tr o lle d b y th e
T e n n e sse e R y ., L ig h t & P o w er C o .
T h e O co ee d e v e lo p m e n t,
in c l u d i n g th e t r a n s m i s s i o n s y s t e m , w a s d e s ig n e d a n d b u i l t b y
J . G . W h i t e & C o . a n d t h e o p e r a t i o n o f t h c p r o p e r t y is u n d e r
t h e d ir e c t m a n a g e m e n t o f E . W . C la r k & C o . , b a n k e r s ,
P h ila d e lp h ia , a n d I l o d e n p y l , H a r d y & C o ., b a n k e r s , N e w
Y ork .
T h e E a s te r n T e n n e s s e e P o w e r C o . w a s o r ig in a lly
fin a n c e d b y D r e x e l & C o . a n d E . W . C la r k & C o . o f P h i l a d e l
p h ia , a n d H o d e n p y l, H a r d y & C o . a n d J . G . W h it e & C o .,
of N ew Y ork .
I n v e s t o r s a n d o t h e r s i n t e r e s t e d in t h e p r o p
e r t y c a n o b ta in a c o p y o f th e b o o k le t u p o n r e q u e s t to J . G .
W h i t e & C o ., 4 3 E x c h a n g e P l a c e , N e w Y o r k C i t y .
J . G . W h i t e & C o . , L t d . , o f L o n d o n , w h ic h is t h e d i r e c t
o u t c o m e o f th e s u c c e s s fu l o p e r a tio n s o f J . G . W h i t e & C o .
I n c o r p o r a t e d , o f N . Y . , in f o r e i g n t e r r i t o r y , h a s a g a i n t h is
y e a r d e c la r e d a t o t a l d i v i d e n d o f 1 2 % o n it s p r e f . s t o c k a n d
6 2 % o n it s c o m m o n s t o c k , a f t e r w h ic h t h e n e t e a r n i n g s f o r
tlie y e a r h a v e b e e n s u f f ic ie n t , t o m a k e s u b s t a n t i a l a d d i t i o n s
t o t h e s p e c ia l r e s e r v e a n d s u r p l u s a c c o u n t s .
-— S o m e o f t h e f e a t u r e s t h a t a p p l y g e n e r a l l y t o p u b l i c
u t ility in v e s tm e n ts a n d th a t h a v e b e e n im p o r t a n t fa c to r s
in t h e g r o w t h o f p o p u l a r i t y o f t h e s e s e c u r i t i e s a m o n g i n
v e s t o r s a r e il l u s t r a t e d b y c o m p a r i s o n w i t h o t h e r c la s s e s o f
s e c u r i t ie s in a s e t o f t a b l e s r e c e n t l y c o m p i l e d b y W i l l i a m P .
B o n b r ig h t & C o .
I n a d d i t i o n t o t h e c o m p a r a t i v e f ig u r e s ,
c h a r t s a r e u s e d t o s h o w t h e s t e a d y rise in e a r n in g s s in c e th e
p a n i c o f 1 9 0 7 a n d t h e r e l a t i v e l y la r g e r i n c o m e y i e l d a n d m a r
g in o f s a fe ty (o v e r in t c r e s t o r d iv id c n d re q u ire m e n ts) a s c o m p a r e d w it h th e le s s r e g u la r a n d m o r e u n c e r t a i n t r e n d in t h c
c a s e o f r a ilr o a d a n d in d u s t r i a l d e v e l o p m e n t s .
I n t h is w a y ,
s e v e r a l p o i n t s t h a t h a v e fig u r e d p r o m i n e n t l y in fin a n c ia l
d i s c u s s i o n s a r e m a d e c le a r in g r a p h i c a n d s t r i k i n g f o r m .
— “ S h o u ld th e P r ic e s o f I n v e s t m e n t B o n d s A d v a n c e ? ” is
t h e t i t l e o f th e m i d - y e a r i n v e s t m e n t b u l l e t i n is s u e d b y D . A r
th u r B o w m a n & C o ., T h ir d N a t io n a l B a n k B l d g ., S t . L o u is ,
M o.
T h e r e a r e a n u m b e r o f in te r e s tin g in v e s t m e n t s u g g e s
tio n s.
A s e le c t e d li s t o f o f f e r in g s o f p u b l i c s e r v i c e c o r p o r a
t i o n , m u n ic i p a l a n d r a ilr o a d is s u e s , y i e l d i n g f r o m 4 t o 6 % , is
s u b m it t e d fo r th e c o n s id e r a tio n o f in v e s to r s .
C o p ie s w ill b e
s e n t u p o n a p p lic a tio n .
— W i l l i a m W . E a s t m a n , d e a le r in h i g h - g r a d e b o n d s , w it h
o f f i c e s in t h e M c K n i g h t B l d g . , M i n n e a p o l i s , is o f f e r i n g t o
in v e s t o r s $ 1 0 0 , 0 0 0 M is s o u r i R i v e r E l e c t r i c & P o w e r C o .
( B u t t e E l e c . & P o w e r C o .) 9 - y e a r m t g o . 6 % g o ld n o t e s d a t e d
J an . 1 1912 and du e J an . I 19 2 1 .
C e n tr a l T r u s t C o ., N . Y . ,
tru ste e.
P rice a n d f u ll d e s c r i p t i v e c ir c u l a r w ill b e m a i l e d
u p o n a p p lic a tio n .
— P o t n r o y B r o t h e r s , a t 3 0 P in e S t . , t h i s
o f th e N e w Y o r k S t o c k .E x c h a n g e , h a v e ju s t
t r i b u t i o n a d e t a i l e d li s t o f in d u s t r i a l p r e f e r r e d
v e s t m e n t in c o m e y ie ld s fr o m 4 .9 2 to 7 . 7 8 % .
d e s c r i p t i v e p a m p h l e t w ill
b e m a ile d u p o n
in q u i r e r s .
c ity , m e m b e rs
is s u e d f o r d i s
s t o c k s w it h in
C o p ie s o f t h is
a p p lic a t io n to
— O ’ C o n n o r & K a h le r , 4 9 W a ll S t ., N o w Y o r k , a n d th e
R o o k e r y , C h i c a g o , a r e a d v e r t i s i n g e ls e w h e r e in t h is is s u e
a n e w lo a n o f $ 2 j 5 0 ,0 0 0 C i t y o f M e m p h i s , T e n n . , \ y2% p a r k
b o n d s , d u e 1 9 4 7 , a t 1 0 1 .5 0 a n d in te r e s t, y ie ld in g 4 . 4 1 % .
S p e c ia l c ir c u la r o n r e q u e s t .
— G u y L . V . E m e r s o n , fo r m e r ly
C a s h ie r o f t h e S i l v e r t o n
N a t i o n a l B a n k o f S i l v e r t o n , C o l ., a n d e x - P r c s i d e n t o f th e
C o l o r a d o S t a t e B a n k e r s ’ A s s o c i a t i o n , is n o w c o n n e c t e d w it h
E . B . S h a p k e r & C o . o f C h ic a g o .
— H a r v e y F i s k & S o n s o f N e w Y o r k h a v e o p e n e d a n o f f ic e
in t h c M e r c h a n t s ’ L o a n & T r u s t B l d g . , C h i c a g o , u n d e r t h e
m a n a g e m e n t o f N o r r i s B . H e n r o t i n , w h o h a s b e e n in c h a r g e
o f th e b o n d d e p a r t m e n t o f K i n g , F a r n u m & C o . o f C h ic a g o .
— C o l s t o n , B o y c e & C o . , B a l t i m o r e , a r e o f f e r in g C i t y
B a l t i m o r e r e g i s t e r e d 4 s , d u e 1 9 6 1 , a t 97 y a n d i n t e r e s t .
of
181
T H E C H R O N IC L E
JULY 20 1912 ]
IHue © a ro m m ia l
2
pracs<
C
T
T
O
N
.
Friday Night, July
COMMERCIAL EPITOME.
Friday Night, July
O
19 1 9 1 2 .
A c h e e r f u l f e e lin g p e r v a d e s t h e b u s i n e s s w o r l d , o w i n g
la r g e l y t o v e r y f a v o r a b l e p r o s p e c t s f o r t h e g r a in h a r v e s t s
xvh ich p r o s p e c t s h a v e b e e n s t r i k i n g l y r e f le c t e d in a s h a r p d e
c lin e in p r i c e s .
T h a t b u y e r s ta k e a m o r e c o n fid e n t v ie w o f th e
f u t u r e is e v i d e n c e d b y in c r e a s in g o r d e r s f o r m e r c h a n d i s e o f
v a r i o u s k in d s f o r f a ll a n d w in t e r d e l i v e r y .
T h e d e m a n d fro m
t h e N o r t h x v c s t , w h e r e t h e c r o p o u t l o o k is e s p e c i a l ly p r o m i s
i n g , h a s in c r e a s e d m a r k e d l y .
T h e recen t h o t w e a th e r, to o
lia s h a d a s t i m u l a t i n g e f f e c t u p o n t r a d e .
T h e ir o n a n d s t e e l
in d u s t r y c o n t i n u e s a c t i v e .
A t t h e W e s t l a b o r is w e ll e m
p lo y e d .
B a n k e x c h a n g e s fo r c u r r e n t p e r io d s a re la r g e , b e in g
in e x c e s s o f t h o s e o f e i t h e r l a s t y e a r o r t h e y e a r b e f o r e .
L A R D o n t h e s p o t h a s r e a c t e d in s y m p a t h y w it h p r o
v i s i o n s in t h e W e s t . . T h e s p o t d e m a n d h a s b e e n q u i e t a s a
ru le .
D e a le r s a r e b u y i n g c o n s e r v a t i v e l y .
P r im e W e s te r n
is q u o t e d a t 1 0 . 5 0 c . ; M id d le W e s t e r n 1 0 . 3 0 c . ; C i t y , s t e a m ,
1 0 c . to lO ^ g c .
R e fi n e d la r d c o n t i n u e s i n a c t i v e , w i t h p r i c e s
lo w e r .
C o n t i n e n t is 1 0 . 8 0 c . ; S o u t h A m e r i c a 1 1 . 7 0 c . ; B r a
zil in k e g s 1 2 . 7 0 c .
S p e c u l a t i o n in la r d f u t u r e s h a s b e e n
fa ir ly a c t iv e w ith p ric e s h e a v y .
T h e d e c lin e in g r a in a n d
o th e r m a r k e t s w a s a n im p o r t a n t in flu e n c e .
S o m e c o v e r in g
o f s h o r t s h e lp e d s t e a d y m a r k e t . L a r g e p a c k e r s r e p o r t e d b u y i n g .
19 1912.
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 lo w '.
F o r th e
w e e k e n d i n g t h i s e v e n i n g t h e t o t a l r e c e ip t s h a v e r e a c h e d
1 1 , 6 7 0 b a l e s , a g a i n s t 1 3 , 0 8 0 b a l e s l a s t w 'eek a n d
1 6 ,9 4 6
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
S e p t . 1 1 9 1 1 1 1 ,4 5 1 ,0 0 3 b a le s , a g a in s t 8 ,3 8 7 ,7 0 5 b a le s fo r
t h e s a m e p e r i o d o f 1 9 1 0 - 1 1 , s h o w i n g a n in c r e a s e s i n c e S e p t . 1
1911
of
3 ,0 6 3 ,2 9 8
Receipts at—
b a le s .
.
M on.
Sat.
Wed.
Tues.
"6
6 76
"2 0
302
____
___
604
135
____
’ *56
____
'6 5 7
____
62
____
181
____
177
"8 6
" 193
____
5
____
____
____
3
____
468
____
____
____
____
—
971
____
25
____
____
—
187
____
____
____
—
166
____
____
1,197
._
39
____ ’
_
139
__
2
____
___
227
____
____
____
____
—
1,726
2,055
1,351
1,770
Galveston ____
Texas C i t y -------P ort Arthur, A c .
New Orleans-----G u lfp o r t_______
Mobile . . . . ____
P en sa cola______
Jacksonville, A c.
Savannah ______
B ru n sw ick _____
C h a rle sto n -------G e o rg e to w n -----W ilm in g to n ____
Norfolk _______
N cw p’ t News, &c
New Y o rk ______
B o s t o n ________
Baltimore -------Philadelphia —
1,124
Totals this w eek.
2,069
‘
296
____
344
C23
____
____
—
Total.
Thurs. | F ri.
717
____
____
987
____
28
____
____
263
380
____
—
1
234
____
____
23
66
—
2,949
—
____
3,490
2,699
11,670
977
____
1,039
380
10
1
2,710
____
25
23
66
—
D A IL Y CLOSIN G PR ICE S O F L A R D FU TU R E S IN CHICAGO.
Sat.
M on.
Tues.
Weil.
July delivery______ ots.10.47J4 10.42 H 1 0 .3 7 ^ 10.35
September deliv ery____10.G2J4 10.57*4 10.52M 10.50
Thurs.
Fri.
10.32*4 10.45
10.47*4 10.02)4
P O R K h a s b e e n r a t h e r q u i e t a n d e a s i e r , d e s p i t e t h e f ir m
n e s s in h o g m a r k e t s ; m e s s $ 2 0 2 5 @ $ 2 0 7 5 ; c le a r $ 1 9 2 5 @ $ 2 1 ;
fa m ily $ 2 0 2 5 @ $ 2 1 2 5 .
B e e f f ir m w i t h a l i g h t d e m a n d ;
m ess $ 1 5 5 0 @ $ 1 6 ; p a c k e t $ 1 7 @ $ 1 7 5 0 ; fa m ily $ 1 8 @ $ 1 8 5 0 ;
e x tr a In d ia m e ss, $ 2 9 @ $ 2 9 5 0 .
C u t m e a ts q u ie t b u t fir m ;
p i c k l e d h a m s , 1 0 @ 2 0 l b s . , l l % @ 1 2 ^ c . ; p i c k le d b e l l i e s , 6 @
12 l b s . , l l @ l l ^ c .
B u tte r, cream ery e x tra s, 2 7 @ 2 7 ^ c .
C h e e s e , S t a t e , w h o le m i l k , n e w w h i t e , s p e c ia l s 1 5 ^ @ 1 5 J ^ c .
E g g s , W e s t e r n fir s ts , 1 9 @ 2 0 c .
O I L S .— L in s e e d h a s b e e n q u ie t a n d e a sie r ; c it y , r a w , A m e r
ic a n s e e d , 7 3 @ 7 4 c . ; b o i l e d , 7 4 @ 7 5 c . ; C a l c u t t a , 8 0 c .
C o tto n
s e e d o il h a s b e e n f i r m ; w i n t e r G . 6 0 @ 7 . 6 0 c . , s u m m e r w h it e
( 5 .0 0 @ 7 .6 0 c .
C o c o a n u t o il h a s b e e n d o r m a n t ; C o c h in 9 ^ @
9 % c . ' C e y l o n 8}4@8% c.
C h in a w o o d fa ir ly a c t iv e a t 9 @
10c.
C o rn h a s b e e n e a sie r a t 5 . 9 0 @ 6 c .
C o d q u ie t a n d
e a s ie r ; d o m e s t ic 4 6 @ 4 8 c .
C O F F E E h a s b e e n d i s t i n c t l y e a s i e r in t o n e .
Y e t th e s p o t
tr a d e h a s b e e n d is p o s e d to m a k e little c o n c e s s io n o n g o o d s e
le c tio n s .
J o b b e r s p o i n t o u t t h a t t h e s u p p l y o f d e s ir a b le
S a n t o s is n o n e t o o l a r g e .
B r a z i l o ffe r s h a v e a l s o d e c lin e d
a s p r i m a r y r e c e i p t s a r e c o m i n g in m o r e r a p i d l y .
B u s in e s s
h a s b e e n s l o w ; R i o N o . 7 is q u o t e d 1 4 } ^ c . , S a n t o s N o . 4
15J^c.
W e s t I n d i a n g r o w t h s a r c f l a t , in s y m p a t h y w i t h t h e
d e c lin e in B r a z i l k i n d s .
F a i r t o g o o d C u c u t a is n o m i n a l l y
16% t o I6%c. O p t i o n s h a v e b e e n w e a k o n li q u i d a t i o n o f
t ir e d s e lle r s .
T h e la r g e s t o c k s in B r a z i l a n d t h e p o o r s p o t
b u s i n e s s a c c e l e r a t e d tlie d e c l i n e .
R o a s te r s a re s till b u y in g
in a h a n d - t o - m o u t h w a y .
Y e t i n v i s i b l e s u p p l i e s o f c o f fe e
a r e s a id to b e m o d e r a t e .
C l o s in g p r ic e s w e r e a s f o l l o w s :
J u l y .......... 12.95 @ 12.88 I N ovem ber 13.23 @ 13.24
A u g u s t . 13.02 @ 13 .0 3 December 13.29@ 13.30
September 13.0 9 @ 1 3 .10 January ..1 3 .3 3 @13.35
O ctob er. _. 13.16 @ 13.1 7 1February . 13.29 @ 13.30
M a rch ____13.39 @ 13.40
A p r il_____ 13.40® 13.41
M a y _____ 13.44® 13.45
J u n e _____ 13.44 @ 13.45
S U G A R .— R a w s h a d an u n e x p e cte d sh a rp a d v a n c e , b u t
s u b s e q u e n t l y r e a c t e d in p a r t .
T h e e x c i t e m e n t in E u r o p e a n
b e e t o p t i o n s s t r e n g t h e n e d t h e id e a s o f s e lle r s .
D e c re a sin g
r e c e ip t s in C u b a w e r e a l s o a f a c t o r .
T h e s a m e w a s tr u e o f a
b e t t e r w ith d r a w a l m o v e m e n t o f g r a n u la te d .
M a n ip u la t io n
a b r o a d , r a t h e r t h a n a p o o r c r o p " o u t l o o k , e x p l a i n e d th e
flu r r y .
C e n t r ifu g a ls , 9 6 -d e g r e e s t e s t , a re q u o te d 3 .9 8 5 c e n ts ;
m u s c o v a d o , 8 9 -d e g r e e s t e s t , 3 .4 8 5 c e n ts ; m o la s s e s , 8 9 -d e g r e e s
t e s t , 3 . 2 3 5 c e n t s . R e fi n e d w a s s y m p a t h e t i c a l l y m o r e a c t i v e .
P r ic e s a r e f ir m e r ; fin e g r a n u l a t e d 5 . 0 5 @ 5 . 1 0 c e n t s .
P E T R O L E U M . — R e fi n e d p e t r o l e u m h a s b e e n f i r m , w it h a
m o d e r a t e d e m a n d f o r d o m e s t i c a c c o u n t ; b a r r e ls 8 . 6 0 ; b u l k 5 c . ,
a n d cases
1 0 .5 0 c .
N a p h t h a c o n tin u e s a c tiv e a n d
fir m ;
7 3 @ 7 6 - d c g r e e s in 1 0 0 - g a l l o n d r u m s , 2 0 3 ^ c . ; d r u m s $ 8 5 0
e x tra .
S p i r i t s o f t u r p e n t i n e in m o d e r a t e d e m a n d a n d fir m
at 47c.
C o m m o n t o g o o d s t r a i n e d r o s in fir m a t $ 6 3 0 .
TOBACCO
is s t i ll i n a c t i v e .
D e a le r s r e p o r t m e r e l y a
h a n d -t o -m o u t h b u y in g b y m a n u fa c tu r e r s . T h e s a m e s c a r c it y
o f b i n d e r is n o t e d in t h e t r a d e a n d p r i c e s a r e f i r m .
T im e ly
r a in s in N e w E n g l a n d h a v e h e lp e d t h e n e w c r o p .
O n ly
tr iflin g d a m a g e h a s b e e n d o n e so fa r b y th e d r y w e a th e r .
L i t t l e d e s ir a b le O h i o t o b a c c o is l e f t in f a r m e r s ’ h a n d s .
S u m a t r a l e a f is q u i e t a n d s t e a d y .
I n t e r e s t f la g s p e n d i n g
t h e f a ll in s c r i p t i o n s in H o l l a n d .
C u b a n t o b a c c o is q u i e t ,
th o u g h n e w c ro p s a m p le s a re b e in g s h o w n .
C O P P E R h a s b e e n r a t h e r m o r e a c t i v e , w it h a fir m e r t o n e
The
fo llo w in g
s in c e S e p t .
la s t y e a r :
sh o w s
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
th e s t o c k s t o -n ig h t , c o m p a r e d w ith
th e
1 1911, and
|
1911-12.
Receipts to
Ju ly 19.
Galveston..............
Texas C it y ---------P ort Arthur, A c.
New Orleans____
G u lf p o r t _______
M o b ile __________
Pensacola........... Jacksonville, A c.
Savannah_______
B run sw ick______
C harleston______
Georgetown ____
W ilm ington ____
N orfolk__________
N ’port News, A c.
N cw Y o rk __ __
Boston _ _
B altim ore_______
P h ila d elp h ia ____
T o t a l . ...............
Stock.
1910-11.
This Since Sep
1 1911.
Week.
This Since Sep
1 1910.
Week.
2,949 3,504,282
____
586,468
280,095
3,490 1,645,526
66,845
977 380,908
215,979
50,419
1,039 2,373,743
380 404,363
10 413,927
1,169
547,858
i
2,710 746,582
38,486
6,307
25
62,055
23
66 123,141
2,252
647 2,738,745
308,229
____
____
258,831
3,276 1,573,910
34,211
10 249,750
____
123,900
25,864
235
319 1,425,040
____
222,736
1 285,045
____
1,454
61 410,665
132 558,745
____
3,924
14,483
38,505
50
112,451
486
365
—
27,718
—
______
33,361
______
1,160
______
______
25.317
410
7,691
—
89
21,763
______
136,038
5,615
4,563
2,625
5,946
—
—
33,305
______
072
______
______
15,238
651
4,084
______
162
3,048
_____ _
94,036
7,313
1,399
1,024
11,670 11451 003 1 5,217 8,387,705
266,350
166,878
1912.
1911.
I n o r fl e r t h a t c o m p a r i s o n m a y b e m a d e w i t h o t h 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 :
Receipts at—
1912.
| 1911.
1910.
1909.
1908.
| 1907.
6,967
246
5,549
1,416
2,618
12,567
3,984
" V ,836
585
1,355
" l ’,279
88
1,102
‘ 7,916
"“ 5
19
338
284
055
""2 5 1 !
04
714!
______ !
1,645
56,422
18,097
Galveston . . .
Texas City, Ac
New Orleans.
Mobile _____
Savannah —
Brunswick —
Charleston, Ac
W ilm in g to n ..
N o r fo lk _____
N ’ port N., Ac
A ll others------
2,949j
647
1,653
"3,4 96 :
9771
1,039
380,
10
1|
2 ,7 I0 l
"3",276
10
319
---------1
61
132
9,525
3,237
11,779
" 2",834
15
19,443
_ v il4
"7 7 1
Total this w k .
11,670
5,217
23,047
89
51
723
108
516
8,030
Since Sept. 1- 11451003 8,387,705 7,216,305 9,770,326 8,193,367 9,645,228
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 t o t a l
of
2 7 ,7 1 5
b a l e s , o f w h ic h 5 , 8 1 9 w e r e t o G r e a t B r i t a i n ,
5 7 to F r a n c e a n d 2 1 ,8 3 9 to th e re st o f th e C o n itn 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 1 1 :
From Sept. 1 1911 to July 19 1912.
Exported to—
Week ending July 19 1912.
Exported to—
Exports
from—
Galveston..
Port Arthur
Tcx.G’y.&c.
NewOrleans
M ob ile___
Pensacola __
Gulfport __
Savannah :
mrunswlck _
Charleston .
Wilmington
Norfolk___
New York.
B oston___
Baltimore. .
Philadelphia
Portland,Me
San Fran..
Seattle___
T acom a__
Detroit . . .
Great
Conti
Great
Britain. France. nent. Total. Britain. France.
5,380 1,373,770
411,504
21,546
7,151 10.141 823,619
107,270
61,663
5,380
2,933
....
—
“ 57
7,480
2,636
928
900
260
7,480
3*564 ,
1
‘ 9001
2501
472,207
197,664
51,365
162,097
14,756
240,335
170,396
18,912
64,429
6.829
Conti
nent.
Total,
280,821 1,347,842 !,002,433
81,752 586,914
92,658
66,140 117,018 204,704
174,752 582.536 1,580,907
05,654 119,319 2.42,243
90,329 216,329
64,337
27,429
64,802
37.373
109,072 17138,553 1,780,432
175,160 372,824
199,209 250,674
11*5*44 i 221,888 502,426
6,172
20.928
88,099 309,754 63S.188
11,990 182,386
6,220 102,019 127.151
_______
88,662
24,233
0,829
210*766 210.760
150,520 150,520
59,843
59,843
4,868
..........
j
Is
th e
1O
i ST'
____
m e t a l.
L a k e is q u o t e d a t I7%c.} e l e c t r o l y t i c a t
17 %c. T h e la r g e r i n t e r e s t s w e r e in b e t t e r c o n t r o l o f t h e
" " "
'
4,868
m a rk e t.
S p e c u l a t o r s a r e le s s in c l in e d t o s e ll a n d c o n s u m e r s
b u y m o re fr e e ly .
T in c o n tin u e s e a s y , w ith th e s p o t q u o t a
57 21,839 27,715 4,203,230 1,161,167 4,979.332
5,819
Total___
t io n 43%c.
L e a d is a s h a d e f ir m e r , b u t q u i e t a t 4 . 7 5 c .
506 6,207 12,3103,294,996 907,772 1.207,017 7,409,785
5,597
S p e l t e r r e m a i n s i n a c t i v e b u t fir m a t 7 . 3 0 c .
P ig ir o n is f ir m .
N o . 1 N o r t h e r n is h e ld a t $ 1 5 7 5 @ $ 1 6 . ; N o . 2 S o u t h e r n $ 1 5 5 0
I n a d d it io n to a b o v e e x p o r t s , o u r te le g r a m s t o -n ig h t a ls o
@ $15 75.
F i n i s h e d m a t e r i a l is a c t i v e a n d h i g h e r f o r s o m e
| g iv e u s th e fo llo w in g a m o u n t s o f c o t t o n o n s h ip b o a r d , n o t
lin e s .
W ir e a n d b a rs h a v e b e e n a d v a n c e d a n d stru ctu ra l
1 c le 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
s t e e l is f i r m .
C a r e q u i p m e n t c o m p a n i e s a r e in t h e m a r k e t
1 N ew Y o rk .
b e c a u s e o f la r g e o r d e r s .
to
182
TH E C H R O N IC L E
On Shipboard, Not Cleared for—
July 19 at—
Great
Briain. France
New O rlea n s..
G a lv es ton ____
Savannah ____
C harleston.. .
Mobile ..............
N o r fo lk ______
New Y o r k ____
Other p orts__
400
500
Total 1912.'.
Total 1911 ._
Total 1910
1,877
1,653
5.604
977
92
GerOther Coastmany. Foreign wise.
2,431
525
3,823
1,491
Total.
267
670
7,590
2,686
—
25,771
25,032
25,317
7,691
—
17,500
1,050
800
4,263
134.988
12,502
18,437
2,441
14.06-
29.626
15.763
."' III
236,724
151,115
•>06 240
:
•------
m il
500
150
300
—
92
500
1.681
3,406
7,806
8 ono
17,500
1
5,814
3,363
3.064
Leaving
Stock.
S p e c u l a t i o n in c o t t o n f o r f u t u r e d e l i v e r y h a s b e e n le s s a c t i v e
d u r i n g t h e w e e k a n d f l u c t u a t i o n s in p r ic e s h a v e b e e n c o n f in e d
w it h i n n a r r o w e r l i m i t s .
E a r l y in t h e w e e k t h e t r e n d o f p r ic e s
w as d ow n w ard ,
1* r e q u e n t s h o w e r s h a v e o c c u r r e d in p a r t s o f
le x a s .
f h e p r e c ip ita tio n a t m o s t p o in ts h a s b e e n lig h t , b u t
t h e m o i s t u r e , in t h e o p i n i o n o f m a n y , h a s b e n e f i t e d t h e p l a n t ,
t e m p e r a t u r e s , m o r e o v e r , h a v e , o n t h e w diole b e e n lo w e r ,
t h o u g h e x c e s s i v e h e a t is s t i ll c o m p l a i n e d o f in s o m e s e c t i o n s .
C r o p r e p o r t s f r o m t h a t S t a t e h a v e in m a n y i n s t a n c e s b e e n
e x c e lle n t .
T h e p l a n t in s o m e s e c t i o n s is s a i d t o b e o p e n i n g
r a p i d l y , a n d i t is e x p e c t e d t h a t in t h e n e a r f u t u r e p i c k i n g
w ill b e w e ll u n d e r w a y .
S o m e a d v ic e s fr o m T e x a s ta k e
th e
ground
th a t
r a in s
now
w o u ld
be
m ore
i n ju r i o u s
th a n
b e n e fic ia l,
as
th e y
w o u ld
have
a
t e n d e n c y t o s t i m u l a t e w e e v i l s a n d o t h e r p e s t s in t o r e n e w e d
a c tiv ity a n d cau se sh e d d in g .
C rop re p o rts fro m p a rts o f
A l a b a m a a n d M is s i s s i p p i h a v e b e e n f a v o r a b l e a n d t h e s a m e
a p p lie s to c e r ta in p o r tio n s o f th e C a r o lin a s .
T h e s p o t sa le s
in L i v e r p o o l h a v e b e e n 7 , 0 0 0 t o 8 , 0 0 0 b a le s d a i l y m u c h o f
th e t im e .
R e p o r t s fr o m M a n c h e s te r in d ic a te t h a t th ere
h a s b e e n s o m e s l a c k e n i n g o f t r a d e in t h a t c e n t r e .
I t is c o n
te n d e d b y s o m e m e m b e r s o f th e t r a d e , in c lu d in g s o m e o f
t h e m o s t p r o m i n e n t i n t e r e s t s h e r e , t h a t p r e s e n t p r ic e s h a v e
f u l l y d i s c o u n t e d e v e r y t h i n g t h a t is b u lli s h in th e s i t u a t i o n .
B e l i e v e r s in lo w e r p r i c e s t a k e t h e g r o u n d t h a t t h e w o r s t t h a t
c a n lie s a $ a b o u t t h e c r o p is t h a t i t is l a t e in s o m e s e c t io n s a n d
grassy,
and
th a t
a
s p e ll
of
c le a r
w e a th e r
in
th e
E a s t e r n b e l t w o u ld s o o n p u t a v e r y d if f e r e n t p h a s e u p o n th e
o u t l o o k in t h a t s e c t i o n .
H e d g e s e l l i n g , it is e x p e c t e d , w ill
s o o n b e c o m e a n i m p o r t a n t f a c t o r o n t h e b e a r s id e o f t h e
a ccou n t.
P r o m i n e n t W a l l S t r e e t in t e r e s t s h a v e s o l d f r e e l y
a t t i m e s a n d C h ic a g o h o u s e s a f t e r l i q u i d a t i n g h a v e s o l d f o r
a tu r n o n th e s h o r t s id e .
T h e re h a s b e e n a g g re ssiv e h a m
m e r in g a t t i m e s b y lo c a l t r a d e r s .
O f l a t e , h o w e v e r , th e
t r e n d o f p r i c e s h a s in t h e m a i n b e e n u p w a r d .
T h ere h a ve
b e e n p e r s i s t e n t a n d h e a v y r a in s o v e r th e r e g i o n e a s t o f th e
M is s is s ip p i. A c c o r d in g to th e la s t w e e k ly G o v e r n m e n t c ro p
r e p o r t s , t h e o u t l o o k in G e o r g i a is d i s c o u r a g i n g , o w i n g t o th e
p r o t r a c t e d w e t w e a t h e r . T h e p l a n t in i m p o r t a n t s e c t i o n s o f
t h e E a s t e r n b e l t is r e p o r t e d t o b e u n u s u a l l y s m a l l f o r th e p e
r io d a n d
t o b e b a d l y in n e e d o f c u l t i v a t i o n .
R e p o rts
o f s e rio u s d a m a g e fr o m a r m y w o r m s a n d o th e r p e s t s a rc
b e c o m in g m o re n u m e r o u s .
In p a rts o f T e x a s m a x im u m
te m p e r a tu r e s h a v e b e e n r e p o rte d a t a n u m b e r o f p o in ts d u r
in g t h e w e e k o f 1 0 0 t o 1 0 4 d e g r e e s .
S o m e s e c t io n s o f t h a t
S ta to are re p o r te d to b e g e ttin g v e r y d r y .
L iv e r p o o l lia s
b e e n p r o m i n e n t in t h e b u y i n g h e r e o f l a t e .
L arge sp ot
in t e r e s t s h a v e b e e n lib e r a l b u y e r s , e s p e c i a l l y o f O c t o b e r .
T h e d if f e r e n c e b e t w e e n t h a t m o n t h a n d D e c e m b e r , w h ic h a
fe w d a y s a g o w a s n e a r ly
10 p o in ts, h a s
n arrow ed
to
o n ly
a
c o u p le
of
p o in ts.
T h is
has
g iv e n
rise
to
t h e id e a a m o n g s o m e t h a t i n t e r e s t i n g d e v e l o p m e n t s a r e
lik e ly
to
be
w itn e s s e d
in
th a t
m o n th
soo n er
or
la t e r a n d
th e y
w o u ld
not be
s u r p r is e d
t o s e e it se ll
h ig h e r th a n D e c e m b e r .
P r o m in e n t W a ll S tr e e t b e a rs h a v e
c o v e r e d fr e e ly d u r in g th e p a s t 4 8 h o u r s .
C o m m is s io n h o u ses
h a v e a l s o p u r c h a s e d t h e w i n t e r m o n t h s m o r e o r le s s f r e e ly .
T o -d a y , th e m a r k e t w a s fe v e r is h a n d ir r e g u la r .
A t one
t i m e p r ic e s w e r e lo w e r o n f u r t h e r b e n e fi c ia l r a in s in T e x a s
a n d liq u id a t io n .
L a t e r th e re w a s a s h a r p r a lly o n h e a v y
r a in s in t h e E a s t e r n b e l t , b u y i n g o f O c t o b e r b y s p o t in t e r e s t s
a n d c o v e r i n g o f s h o r t s ; b u t b e fo r e t h e c lo s e a r e c e s s io n
o c c u r r e d o n g e n e r a l s e llin g .
S p o t c o tto n h a s b e e n q u ie t.
M i d d l i n g u p la n d c lo s e d a t 1 2 . 8 0 c . , s h o w i n g a n a d v a n c e f o r
th e w e e k o f 3 0 p o in ts .
T h e o f f i c i a l q u o t a t i o n f o r m i d d l i n g u p l a n d c o t t o n in th e
N e w Y o r k m a r k e t e a c h d a y fo r th e p a s t w e e k h a s b e e n :
Hi to July I9—
Sat.
Mon. Tucs.
Middling uplands......... ...............12.50 12.40 12.40
N EW
YO R K
Q U O T A T IO N S
FOR
Wed. Thurs.
12.45
32
AND
Spot Market
Closed.
Saturday__
M onday____
T u e s d a y __
W ednesday.
Thursday . .
Friday ___
Total
SALES AT
NEW
Futures
Market
Closed.
Quiet . ____ . .
Quiet, 10 pts. d e c . . S tea d y________
Quiet, 5 pts. a d v . . _ S tea d y...... .........
Quiet . . .
Steady, 15 pts. a d v . F ir m __________
Quiot, 20 pts. a d v .. S tead y............ .
__
Fri.
12.80
YEAR S.
-C_____ 12.80 1904.c ____ 10.95 1896.c . ____ 7.12
........... .13.70 1903______ 12.50 1805. -. ____ 7.00
1910 _______
.
15.95 1 9 0 2 ...
- 9.38 1 8 9 4 ... ____7.12
1909-............. 12.40 1901........... . 8.44 1 8 9 3 ... ____8.12
_______ 11.00 1900______ 10.00 1 8 9 2 ... ____7.25
_______ 13.95 1899______ . 6.25 1 8 9 1 .. . ____ 8.25
1900 _______ 11.00 1 8 9 8 -..
6.19 1 8 9 0 ... ____12.19
1901 _______ 11.10 1397_____
8.00 1 8 8 9 ... ___ 11.25
1011
M ARKET
12.60
1888.c .
1 3 8 7 ...
1 8 8 6 ...
1 8 8 5 ...
1 8 8 4 ...
1 8 8 3 ...
1 8 8 2 ...
1 8 8 1 ...
..10.69
-.10.31
. . 9.50
-.1 0 .0 6
-.1 1 .0 0
-.1 0 .0 0
-.1 2 .7 5
-.11.09
YORK.
SA LES .
Spot.
277
85
362
Contr'ct Total.
'500
‘ 500
‘ 400
400
‘ 277
485
400
1,300
1.662
[VOL. L X X X X V .
F U T U R E S . — T h e h i g 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 e e k h a v e b e e n a s fo llo w s :
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COCO
SUPPLY
OF COTTON
t o -n ig h t , a s m a d e
u p b y c a b l e a n d t e l e g r a p h , is a s f o l l o w s .
F o re ig n s to 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 f ig u r e s f o r
t o - n i g h t ( F r i d a y ) , w e a d d t h e i t e m o f e x p o r t s f r o m th e
U n i t e d S t a t e s , i n c l u d i n g in i t t h e e x p o r t s o f F r i d a y o n l y .
July 19—
1912.
>. 889,000
10,000
.
96,000
1911.
588,000
13,000
62,000
1910.
458,000
8,000
42,000
.
.
-
995,000
7,000
339,000
185,000
3,000
15,000
19,000
13,000
663,000
11,000
81,000
131,000
2,000
19,000
19,000
9,000
508,000 1,081,000
14,000
12,000
263,000
13 7,000
119,000
214,000
3,000
3,000
13,000
27,000
20,000
25,000
9,000
7,000
.
581,000
272,000
315,000
.1,576,000
95,000
tui JCiUIUpC___.
Am er. cotton alloat for E urope. ._ 118,099
Egypt,Brazil, &c.,atlt.for E urop e.
23,000
70,000
Stock in Alexandria, E gy p t______
. 556,000
Stock in Bom bay, In d ia .. .
Stock in U. S. p o r t s ____________. 266,350
Stock in IT. S. interior tow ns____. 120,206
U. S. exports to -d a y ______
................ -
935,000
117,000
54,085
19,000
70,000
510,000
166,878
104,287
892
823,000 1,632,000
103,000
64,000
74,568
100,634
7,000
16,000
62,000
854)00
590,000
318,000
239,651
301,170
78,570
123,465
Stock at M anchester_______
Total Great Britain stock.
Stock at H am burg__________
Stock at Marseilles____
Stock at B a rce lo n a ___
Total Continental stocks.
1909.
997,000
16,000
68,000
551,000
.2,824,655 1,986,142 1,977,789 2,640,269
an and other descriptions are as follows:
American—
Liverpool stock ...................... bales. . 758,000
433,000
366,000
905,000
.
74,000
49,000
34,000
54,000
. 553,000
224,000
255,000
504.000
. 118,099
54,085
74,568
100,634
166,878
. 266,350
239,651
301,170
U. S. interior stocks _
. 120,206
104,287
78,570
123,465
U. S. exports to -d a y .........................................
892
East Indian, Brazil, &c.
.1, 889,655 1,032,142 1,047,789 1,988,269
.
London stock _____
.
Manchester stock _______
.
Continental stock ___________ HCC
India alloat for Europe.
E gypt, Brazil, &c., alloat____ 1.1.
Stock in Alexandria, Egypt
Stock in B om bay, India_____ H I.
131,000
10,000
22,000
2 8,000
95,000
23,000
70,000
556,000
155,000
13,000
13,000
48,000
117,000
19,000
79,000
510,000
92,000
8,000
8,000
60,000
103,000
7,000
62,000
590,000
92,000
16,000
14,000
47,000
64,000
16,000
85,000
318,000
054,000
. 0 35,000
930,000
652,000
1,889,655 1,032,142 1,047,789 1,988,269
T otal visible supply___________ 2,824,055 1,086,142 1,977,789 2,640,269
Middling Upland, L iverpool.
..
7.24d.
7.39d.
7.97d.
6.48d.
Middling Upland, New Y o r k ____
12.80o.
13.45c.
16.00c.
12.35c.
E gypt. Good B row n, L iv e rp o o l-.
llK d .
10 Hd.
12 A d . 9 11-16(1.
Peruvian, Hough Good, Liverpool
O.COd.
ll.OOd.
ll.OOd.
8.25d.
Broach, Fine, U v e rp o o i. . ____
6 M l.
7 'Ad.
7 Ad.
6 Hid.
T inncvelly, Good, L iv e rp o o l____ 0 7-16(1. 7 l-10d.
7 l-16d. 5 13-16(1
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 e e n
b a le s .
2 5 ,0 0 0
T h e a b o v e f ig u r e s f o r 1 9 1 2 s h o w a d e c r e a s e f r o m l a s t w e e k
o f 1 5 5 ,5 1 5 b a le s , a g a in o f 8 3 8 ,5 1 3 b a le s o v e r 1 9 1 1 , a n e x
c e s s o f 8 4 6 , 8 6 6 b a le s o v e r 1 9 1 0 a n d a g a in o f 1 8 4 , 3 8 6 b a le s
over 1909.
.
July 20 1912 ]
T H E C H R O N IC L E
A T T H E IN T E R IO R T O W N S the movement— that is,
the receipts for the week and since Sept. 1, the shipments
for the week and the stocks to-night, and the same items
for the corresponding period for the previous year— is set
out in detail below.
. .
...............O .!>
«o .HW0552
-o * t y - o *. -- *H P0 ~
* * ' f f ? * .............. ? •&
.
>
183
N E W O R L E A N S O PTIO N M A R K E T .— The highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
Sat’day, Monday, Tuesday' Wed’day, Thursd’y, Friday,
July 13. July 15. July 16. July 17. July 18. July 19.
July—
R a n ge _______ 12.99--.05 1 2.87-.1 0 13.01 — 13.07-.1 9 1 3.20-.4 3 12.34--.40
C losin g _______ 13.07--.09 12.87-.9 0 13.03 — 13.19-.21 1 3.42-.4 3 12.35--.40
Aug —
R a n ge _______ 12.82--.92 — 12.96 12.81 — 12.90-.9 3 1 2 .0 1 -.0 0
@
C losin g_______ 12.90--.92 12.70-.7 2 12.84-.8 6 12.92-.9 4 1 3 .0 5 -.0 7 —
13.05- .07
Sept.—
R a n g e _______ — 12 .73 — @ — 12.55-.62 12.65-.7 0 12.6 8 -.8 6 — @ __
C lo sin g _____
12.69--.70 12.4 7 -.5 0 12.62-.63 12.67-.6 9 1 2 .8 3 -.8 5 12.81- .83
Oct.—
R a n g e ............. 12.50--.60 1 2.33-.6 0 12.3 5-.51
C losin g_______ 12.56--.57 1 2.34-.3 5 1 2.45-.4 6
R a n g e _______ ---- (a) __ — @ __ __ ® ■—
C losin g_______ 12.57-■•58 12.35-.3 7 12.45-.4 6
Nov .—
Dec..—
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“81
O V E R L A N D M O V E M E N T FO R T H E W E E K A N D
SINCE SEPT. 1.— We give below a statement showing the
overland movement for the week and since Sept. 1, as made
up from telegraphic reports Friday night. The results for
the week and since Sept. 1 in the last two years are as follows:
-1 9 1 1 -1 2 -
July 19—
Shipped—
Since
Sept. 1.
Week.
V ia S t . L o u is ___________ .
V ia C a i r o ........................................
V ia R o c k I s la n d ______________
. - 2,059
-151
V la o th e r rou tes, & c,
..
-
592
1,814
241
75
.-
114
..
647,697
66,391
8,408
171,090
120,149
190,980
448,251
1,061,972
Deduct Shipments—
O verlan d to N . Y ., B ost
B etw een Interior t o w n s .
- 1,463
194,355
103,047
80,734
T o ta l t o b e d e d u c t e d ___________- 1,023
1,623
37 8 ,1 3 6
_ 3,309 1,283,836
-1 9 1 0 -1 1 -
Since
Sept. 1.
Week.
518,901
210,532
25,957
131,825
79,757
175,661
170,329
1,973
1,124
124
81
224
120
3,6 4 6 1,312,962
536
137
727
160,004
62,073
56,636
1,400
284,713
2,2 4 6 1,028,249
* I n c lu d in g m o v e m e n t b y rail t o C a n ad a.
The foregoing shows the week’s not overland movement
has been 3,3Q9 bales, against 2,246 bales for the week last
year, and that for the season to date the aggregate net over
land exhibits an increase over a year ago of 255,587 bales.
In Sight and Spinners’
„
.
Takings.
R e c e ip ts a t p orts to J u ly 19
N et o v e r la n d to J u ly 19_____
S ou th ern c o n s u m p tio n t o Ji
Since
Since
Sept. 1.
Week.
Sept. 1.
- 11,670 11,451,003
- 3,309 -1 ,2 8 3 ,8 3 6
> 56,000 2 ,4 0 4 ,0 0 0
IVeefc.
5,217
2,246
45,000
- 70,070 15,138,839
-* 1 6 ,4 3 4
10,760
52,463 11,604,954
53,500
*8,346
- 54,545
4 4 ,077
15,158^608
N o r t h .s p in n e r s ’ ta k ln g sto J u ly 10'
7,552
2 ,3 0 5 ,1 0 2
8,476
8 ,3 8 7 ,7 0 5
1,028,249
2,18 9 ,0 0 0
11,658,463
2,111,041
* D ecrease;'d u rin g w eek .
Movement into sight in previous years:
Week—
Bales
Since Sept. 1—
Bales.
1910— J u ly 2 2 ________________ 73.181 1909-10— J u ly 2 2 __________ 10,204,171
1909— J u ly 2 3 ___________
S8 286 1908-00— J u ly 2 3 __________ 13,115,011
1908— J u ly 2 5 _____________ . " 5 3 527 1907-08— J u ly 2 5 __________ 11,202,511
Q U O TA ITO N S FO R M ID D L IN G COTTON A T _O TH ER
M A R K E T S .— Below as the closing quotations of middling
cotton at Southern and other principal cotton markets for
each day of the week:
Closing Quotations for Middling Cotton on—
July 10.
G a lv e s t o n ___
N ow O r le a n s ..
M o b i l e ________
S av a n n a h _____
C h a r le s t o n ____
W ilm in g t o n ____
N o r f o l k ________
B a lt i m o r e _____
P h ila d elp h ia . . .
A u g u s ta _______
M e m p h is _______
S t . L o u is _______
H o u s t o n _______
L ittle R o e ir ____
Sat’day. \Monday. |Tuesday. 1Wed'day.\Thursd'y. Friday.
{§ *
a *
id
13
12.75
13
12 41
1211
12 13-16
19 l.<
12X
12 71
13
12 14
12
12 X
13
19 7
U
%
12
13 X
13
12.65
13
12 H
1211
12 13-16
13 i i
13
12.70
13
12 X
12 H
12 13-16
12 V,
i 3 \i
13 y,
13
13
12.85
12.70
13
13
12 H
12 X
12 Vx
12 X
12 13-16 12X
12 H
1214
13
12 H
\2V,
12 X
13 74
12 14
12
__ gj, __ __ 0 ___ . , l2\
12 .4 9 -. 50 12.6 3 -.6 5 12.62- .63
R a n g e _______ 12.51- .59 12.3 5-.63 1 2.36-.5 2 12.40-.5 3 12.4 5-.64
.70
C lo sin g _______ 12.57- .58 12.35-.3 6 12.4 5-.4 6 12.50-.51 12.26-.6 3 12.5512.61- .62
R a n g e _______ 12.58- .63 12.4 0 -.6 7 12.4 3 -.5 6 12.51-.5 6 12.52-.68T 12.60- .73
C losin g_______ 12.62- .63 12.41-.4 2 12.51-.5 2 12.5 5 -.5 6 1 2 .6 7 -.6 8 12.66- .67
Feb.—
R a n g e _______ — @ -__ — @ — — fD __ __ rtn ____ __ _______ __
C losin g_______ 12.68 — 12.4 5 -.4 7 12.56 - - 12.5 9 -.6 0 12.70-.7 2 12.67- .70
Mch .—
R a n g e _______ 12.68- .73 12.5 1 -.5 6 1 2 .5 2 -.6 5 1 2.59-.6 9
2 -.7 7 1 2.66- .81
C lo sin g ............ 12.72- .73 12.50-.51 1 2.60-.6 2 12.6 5 -.6 6 12.6
12.7 6 -.7 7 12.73- .74
M ay .—
R a n g e _______ — @ — 12.70-.81 12.7 0 -.7 7 12.71-.7 4 1 2 .7 1 -.8 5 12.75- .88
C lo sin g _______ 12.81- .86 12.62-.63 12.71-.7 3 12.7 6 -.7 7
12.8 7 -.8 8 12.83- .85
Tone—
S p o t .................
F irm .
S te a d y . S te a d y . J S te a d y . S te a d y .
u iet.
O p t i o n s _____ S te a d y . S te a d y . S te a d y . S te a d y . V ’ y s t ’d y SQte
ady.
Jan.—
t
wrsJM
->-*i CoVjIo cn W
Mrf* s S S
P O I ^W Cl O M00 ^1CDCDC> g-sr'e
0*41 PPCDOOCDM i^OOm
to O •'l O O *4p i tn i
12.3 9 -. 53 12.4 5-.6 6 12.56- .71
12.4 9 -.5 0 1 2 .6 4 -.6 5 12.62- .63
12 X
X
l13
1oZtIf/
12'
if*
13.05
13
12 71
12 %
c2 X
12 74
W E A T H E R REP O R TS B Y T E L E G R A P H .— Reports to
us by telegraph from the South this evening are of a some
what conflicting tenor. In Texas there has been little rain
on the whole and there is a divergence of opinion as to the
need of it at this time; conditions, however, are reported
good in the main. Elsewhere at the South rain has been
quite the rule and from some sections along the Atlantic and
Gulf there are complaints of too much moisture.
Galveston, T e x .— There are conflicting opinions as to the
desirability of rain in Texas. Some claim that rain will cause
shedding and that dry weather is better for cotton at this
period, while others contend that rain is needed for better
ment of the plant. Light rains have occurred in some
sections of the State during the week and on the whole
conditions are good. It has rained here on two days of the
week, to an inappreciable extent. Average thermometer 84,
highest 90 and lowest 78.
Abilene, T e x .— We have had light rain on two days during
the week, the rainfall being twenty-six hundredths of an inch.
Lowest thermometer 72.
Brenham, T e x .— We have had light rain on two days during
the week, to the extent of thirty-nine hundredths of an inch.
The thermometer has averaged 85, ranging from 72 to 98.
Cuero, T e x .— There has been no rain during the week.
The
thermometer has ranged from 72 to 102, averaging 87.
Dallas, T e x .— Rain has fallen on two days of the week,
to the extent of fifty-six hundredths of an inch. Average
thermometer 86, highest 100, lowest 72.
Henrietta, T e x .— Dry all the week.
The thermometer has
averaged 86, the highest being 100 and the lowest 72.
Huntsville, T e x .— W e have had rain on one day of the past
week, the rainfall being twenty hundredths of an inch. The
thermometer has averaged 84, ranging from 72 to 96.
Kerrville, T e x .—-We have had rain on one day during the
week, the rainfall being fourteen hundredths of an inch. The
thermometer has ranged from 66 to 98, averaging 82.
Lam pasas, T e x .— W e have had rain on one day during the
past week, to the extent of eighty-four hundredths of an inch.
Average thermometer 86, highest 100, lowest 72.
Longview, Tex.— W e have had rain on three days of the
week, to the extent of one inch and ninety-eight hundredths.
The thermometer has averaged 87, the highest being 100
and the lowest 74.
Nacogdoches, T e x .— We have hail rain on two days during
the week, to the extent of twenty-four hundredths of an inch.
The thermometer has averaged 82, ranging from 70 to 94.
Paris, T e x .— There has been light rain on two days during
the week, to the extent of nine hundredths of an inch. The
thermometer has ranged from 70 to 98, averaging 84.
San Antonio, T e x .—-We have had rain on two days during
the past Aveek, the rainfall being one inch and sixteen hun
dredths. Average thermometer 84, highest 98 and lowest 70.
L vling, T e x .— W e have had rain on two days during the
week, the precipitation being one inch and fourteen hun
dredths. The thermometer has averaged 87, the highest being
100 and the lowest 74.
Taylor, T e x .— We have had light rain on two days during
the week, to the extent of eight hundredths of an inch.
Minimum thermometer 72.
.
Weatherford, T ex .— W e have had rain on one day during
the week, the rainfall being forty-two hundredths of an inch.
The thermometer has ranged from 72 to 100, averaging 86.
Ardmore, Okla .—-We have had no rain during the past week.
Average thermometer 88, highest 105, lowest 71.
M arlow, Okla .— We have had no rain during the week.
The thermometer has averaged 85, the highest being 99 and
the lowest 71.
. . .
Tulsa, Okla .— There has been rain on one day during the
week, the rainfall reaching seventy hundredths of an inch.
The thermometer has averaged 85, ranging from 70 to 101.
[VOL.
THE C H R O N IC L E
184
LXXXXV.
A l e x a n d r i a , L a . — T h e r e h a s b e e n r a in o n t h r e e d a y s d u r i n g
t h e w e e k , t h e p r e c i p i t a t i o n b e i n g t w o in c h e s a n d f i f t y - t h r e e
h u n d re d th s.
T h e th e r m o m e te r h a s ra n g e d fr o m 7 0 to 9 7 ,
W O R L D ’S SU P P L Y AN D T A K IN G S OF COTTON.
a v e ra g in g 8 3 .
N e w O r l e a n s , L a - — R a i n h a s f a lle n o n fiv e d a y s o f t h e w e e k ,
t o t h e e x t e n t o f t w o in c h e s a n d e i g h t e e n h u n d r e d t h s .
A ver
a g e t h e r m o m e t e r 8 1 , h ig h e s t 8 9 , lo w e s t 7 3 .
S h r e v e p o r t , L a . — T h e r e h a s b e e n r a in o n t w o d a y s d u r i n g
th e w e e k , th e p r e c ip ita tio n b e in g t w e n t y -o n e h u n d r e d th s o f a n
Week.
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 2 , th e h ig h e st b e in g
9 4 a n d th e lo w e s t 7 0 .
H e le n a , A r k .— C u t -w o r m s a r e c o m p la in e d o f .
R a in h a s
f a l l e n l i g h t l y o n fiv e d a y s d u r i n g t h e w e e k , t h e p r e c i p i t a t i o n
b e in g s ix t y -f o u r h u n d r e d th s o f a n in c h .
H e a v i e r r a i n f a ll in
th is v ic in it y .
T h e th e r m o m e te r h a s ra n g e d fr o m 7 2 to 9 3 ,
a v e r a g in g 8 1 .5 .
,
,
L i t t l e R o c k , A r k . — W e h a v e h a d r a in o n o n e d a y o f th e
w e e k , t h e r a in f a ll b e i n g t w e l v e h u n d r e d t h s o f a n i n c h .
A ver
a g e th e r m o m e te r 8 1 , h ig h e s t 9 3 , lo w e s t 7 0 .
C o l u m b u s , M i s s . — I t h a s r a in e d o n f o u r d a y s o f t h e w e e k ,
t h e r a in f a ll b e i n g t w o in c h e s a n d s e v e n t e e n h u n d r e d t h s .
1he
t h e r m o m e t e r h a s a v e r a g e d 8 3 , t h e h i g h e s t b e i n g 9 5 a n d th e
lo w e st 7 1 .
.
,
.
V i c k s b u r g , M i s s . — W e h a v e h a d r a in o n f o u r d a y s d u r in g
th e w e e k .
T h e r a in f a ll r e a c h e d o n e in c h a n d e i g h t y - s i x h u n
d re d th s.
T h e th e rm o m e te r has ran ged
fr o m
7 0 to 9 1 ,
a v e r a g in g 8 1 .
M o b ile, A l a —
^
C o t t o n is g r o w i n g r a p id ly
To o m u c h r a i n .
b u t n o t fr u itin g w e ll.
W e e k ’ s r a i n f a ll t h r e e in c h e s a n d e ig h t
h u n d r e d t h s , o n fiv e d a v s . A v e r a g e t h e r m o m e t e r 8 1 , h i g h e s t
9 3 , lo w e s t 7 0 .
t
M o n t g o m e r y , A l a . — D r y w e a t h e r is n e e d e d .
C ro p s are
sp o tted .
W e h a v e h a d r a in o n t h r e e d a y s o f t h e p a s t w e e k ,
t h e r a in f a ll r e a c h i n g o n e in c h a n d s i x t v - s i x h u n d r e d t h s .
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 0 , th e h ig h e s t b e in g 9 2
a n d th e lo w e s t 7 2 .
S e l m a , A l a . — T h e r e h a s b e e n r a in o n f o u r d a y s o f t h e p a s t
w e e k , t h e r a in f a ll r e a c h i n g t w o in c h e s a n d fif t e e n h u n d r e d t h s .
T h e th e r m o m e t e r h a s a v e r a g e d 7 8 .5 , r a n g in g fro m 7 3 to 8 8 .
A u g u s t a , G a .— R a i n h a s f a lle n o n t h r e e d a y s d u r i n g th e
w e e k , t h e n r e c i p i t a t i o n b e i n g t w o in c h e s a n d n i n e t y h u n
d r e d th s . T h e th e r m o m e te r h a s ra n g e d fr o m 7 0 to 9 0 .
S a v a n n a h , G a .— I t h a s r a in e d o n fiv e d a y s o f t h e w e e k , t h e
r a in f a ll b e i n g
tw o
in c h e s
and
t w e n ty -fiv e
h u n d re d th s.
A v e r a g e th e r m o m e te r 7 9 , h ig h e s t 8 9 a n d lo w e s t 7 0 .
_
W a s h i n g t o n , G a .— T h e r e h a s b e e n r a in o n f o u r 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 in c h e s a n d t w o h u n d r e d t h s .
T h e th e r m o m e te r h a s a v e r a g e d 7 9 , th e h ig h e s t b e in g 91
a n d th e lo w e s t 6 8 .
C h a r le s t o n , S. C . — R a i n h a s f a lle n o n f o u r d a y s o f t h e w e e k ,
t h e p r e c i p i t a t i o n b e i n g t h i r t y - 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 t h e r m o m e t e r h a s a v e r a g e d 7 9 , r a n g in g fr o m 7 0 to 8 7 .
G r e e n v il l e , S. C . — R a i n h a s f a lle n o n f o u r d a y s d u r in g t h e
w e e k , th e r a in f a ll b e i n g o n e in c h a n d t h i r t y - f i v e h u n d r e d t h s .
T h e t h e r m o m e t e r h a s ra n g e d fro m 5 to 9 2 , a v e r a g in g 7 8 .
Spartanburg, S. C . — R a i n h a s f a lle n o n t h r e e d a y s o f th e
w e e k t o t h e e x t e n t o f t h i r t y - n i n e h u n d r e d t h s o f a n in c h .
A v e r a g e th e r m o m e te r 8 0 h ig h e st 9 2 , lo w e st 0 7 .
G a i n e s v i l l e , F l a . — W e h a v e h a d r a in o n f iv e d a y s o f th e
w e e k , t h e r n in f a ll r e a c h i n g t h r e e in c h e s a n d f o u r t e e n h u n
d re d th s.
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 1 , th e h i g h e s t
b e in g 9 1 , a n d th e lo w e s t 7 0 .
M a d i s o n , F l a . — W e h a v e h a d r a in o n f o u r d a y s d u r i n g th e
w e e k , t o t h e e x t e n t o f t w o in c h e s a n d t w e n t y - f i v e h u n d r e d t h s .
T h e th e r m o m e te r h a s a v e r a g e d 7 9 , r a n g in g fr o m 7 0 to 9 0 .
D g e r s b u r g , T e n n — D r y a ll th e w e e k .
T h e th e rm o m e te 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 9 7 a n d th e lo w e s t 7 0 .
M e m p h i s , T e n n . — W e h a v e h a d 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 in f a ll b e i n g t h i r t e 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 a v e r a g e d 8 2 , ra n g in g fr o m 7 2 to 9 3 .
N a s h v i l l e , T e n n . — I t h a s r a in e d o n t w o d a y s o f t h e w e e k ,
t h e r a in f a ll b e i n g o n e in c h a n d s i x t e e n h u n d r e d t h s .
A verage
th e r m o m e te r 8 0 , h ig h e s t 9 2 a n d lo w e s t 6 8 .
C h a r lo tte , N . C . — W e h a v e h a d s h o w e r s o n t h r e e d a y s o f th e
w e e k , t o t h e e x t e n t o f s e v e n t y - s i x 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 a v e r a g e d 8 0 , th e h ig h e s t b e in g 91
a n d th e l o w e s t 6 8 .
G r e e n s b o r o , N . C . — T h e r e h a s b e e n r a in o n t w o d a y s d u r in g
th e w e e k , th e p r e c ip ita tio n b e in g fo r t y -fiv e h u n d r e d th s o f a n
in c h . • T h e r m o m e t e r h a s r a n g e d f r o m 6 3 t o 8 8 , a v e r a g i n g 7 6 .
• M A N C H E S T E R M A R K E T . — O u r 'r c p o r t r e c e iv e d b y 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 t is s t e a d y
f o r y a r n s a n d fir m f o r
s h ir tin g s .
S p in n e r s a re c o n sid e re d
t o b e w e ll u n d e r c o n t r a c t .
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 th o s e fo r p r e v io u s w e e k s o f th is a n d la s t
____ __________
y e a r fo r c o m p a r is o n .
1911.
1912.
32* f'np
Txrist.
d. s. d.
d.
May
31 9 %
7
14
21
28
July
9%
0%
o%
8 % lbs. Shirt- Cnt’ri
Mhl
inns, common
to finest.
UpVs
©
10% 6
©
10% 6 i % @ n
10% 6 2
11
10% 0 1% @ 11
10% *4 1 % @ 1 1
©
©
9 11-10®
a. d.
1% @ 1I 3
3
3
2
2
5 0 % ® 1 0 13-16 0 2 % @ U 4
12 10 © 10 15-10 0 3 © 11 5
1!) 10 ® 10 15-10 6 3 % @11 5
d.
32* Cop
Twist.
8 % lbs. Shirtinns, common
to nnest.
d. s. d.
d.
Cnfn
Mhf.
II pi’s
a. d. d.
6.30 U
@ 11% 6 1 % @ 1 1 4%
8.33
6.45 11 1-16
6.63 11 1-16
0.63 10%
6 .0? 10%
® 11% 6
© 11% 6
® 11% 6
@ 11% 6
4%
5
4
3
8.31
8.27
8.21
8.04
11% 6 0 % @ 1 1 3
11% 6 0 @11 1%
11% 5 11 @ 1 1 0
7.97
7.7C
6.8"
10%
7 .0 ’ 10%
7.21 10%
©
®
®
1% @ 1 1
\'A©\\
0 % @ ll
1 @ 11
1911-12.
C o tto n T a k in g s .
W e e k an d S eason .
1910-11.
Season.
2 ,980,170
2 ,110,257
1,603,418
54,545 15,158,608
11,000 2,2 5 3 ,0 0 0
38,000
327 .000
967 ,700
300
6,000
254 .000
V isib le su p p ly S e p t. 1 --------A m erica n in sigh t to J u ly 19------B o m b a y receip ts t o J u ly 1 8 ------O th er In d ia sh ip ’ ts to J u ly 18 . _
A le x a n d ria receip ts t o J u ly 1 7 ,..
O th er s u p p ly to J u ly 1 7 * ----------. .
Season.
Week.
1,495,514
44,077 11,658,463
20,000 2,4 4 0 ,0 0 0
26,000
434,300
600 1,010,400
8,000
313 ,000
T o ta l s u p p ly ___________________ 3 ,090,015 2 0 ,5 6 3 ,7 2 6 2 ,208,934 17,351,677
!
Deduct—
V isib le su p p ly J u ly 1 9 __________ 2,824,655
T o ta l takings to J u ly 1 9 ________
O f w hich A m e r ic a n ___
- O f w h ich o t h e r ___________ - -
1,986,142
2 ,8 2 4 ,6 5 5 1,986,142
.265,360 17,739,071
193,060 14,121,371
72,300, 3 ,6 1 7 ,7 0 0
222,792 15,365,535
148,192 11,4 1 9 ,8 3 5
74,600, 3 ,9 4 5 ,7 0 0
* E m b ra ce s re ceip ts in E u ro p e fro m Brazil* S m y r n a , W e s t In d ie s, & c.
IN D IA COTTON M O V E M E N T FROM A L L PO RTS.
Since
Sept. 1.
Week.
Since September 1.
Total all—
1911-12..
1910-11.
1909-10 .
1,000
6,000 13,000
7,000
14,000 15,000 29,000
11,000 9,000 21,000
5,000
1,000
Japan
it- China
Total.
812,000 1,108,000
599,00C 1,551,000
870,000 1,920,000
11.000
57,000
95,000
345,000
8)5,000
955,000
10,000
2,000
3,000
2,000
3,000
4,000
24.000
37,000
46,000
24,000
19,000
48,000
50,000
59,000
98,000
4,001
1,000
1,001
3,000
8,000
4,000
7,000
22,000
20,000
2,000
300
1,000
12,000
30,300
25,000
12,001 12,001 24,001
8,001 10,000 23.00C
3,000
4,000
17,000
58,000
30,000
170,00(1
264,000
306,000
78,000
23,000
15.00C
265,000
345,000
351,000
2,000
2,000
3,000
8,000
3,000
1,000
1,000
1,000
___
24,001 27,001 51.00C
5,001 25,000 25.00C 55,000
2,000 18,000 9,000 29,000
A L E X A N D R IA
33,000 516.00C
126,000 1,218,00(1
133,000 1,327,000
R ECEIPTS A N D
Alexandria, Egypt,
July 17.
1909-10.
*2,0 0 0
7 ,5 7 5 ,7 7 6
2,500
7,5 7 5 ,9 7 8
900
4 ,9 0 9 ,4 6 6
This Since
Week. Sept. 1.
This Since
Week. Sept. 1.
This Since
Week. Sept. 1.
1,500
3,750
2.250
1.250
212 ,756
217 ,168
400,728
120,764
150,362
119,308
2",750 298,902
60,952
8,750 951 ,416
2,750 629,524
*1,000 199,605
L iv e r p o o l-----------------M a n c h e s t e r ----------------- *3,000 230 ,800
C o n tin e n t and I n d i a . . *4,000 378,439
A m e r ic a .......... ................
111,175
T o t a l e x p o r t s _________
SH IPM E N TS.
1910-11.
T h is w e e k ________________
S in ce S e p t. 1 ____ .
...
Exports (bales) —
916,000 1,495,000
641,301 1,985,300
934,000 2,394,000
1911-12.
Receipts (ca n ta rs)—
To
To
To
To
Conti
nent .
Great
Great Conti Japan
Urilnln. nent. &China Total. Britain.
Bom bay—
1911-12..
1910-11..
1909-10.
Calcutta—
1911-12.
1910-11 .
1909-10
Madras—
1911-12..
1910-11..
1909-10..
All others—
1911-12..
1910-11..
1909-10..
9,000'3,126.000
20,000 2,440,000
For the Week.
. Exports,
from—
1 Since
Week, j Sept. 1.
Since
Sept. 1.
Week.
11,000 2,253,000
B om bay......... .........................
1909-10.
1910-11.
1911-12.
July 18.
Receipts at—
8,000 920 ,019
E X P O R T S OF COTTON GOODS FROM G R E A T
B R IT A IN .— Below we give the exports of cotton yarn,
goods, &c., from Great Britain from the month of June
and since Oct. 1 1911-12 and 1910-11.
Total 0/ All.
Cloth.
Yarn it Thread.
000s
omitted. 1911-12 1910-11 1911-12. 1910-11. 1911-12. 1910-11. 1911-12. 1910-11.
Lbs.
Lbs.
Lbs.
Lbs.
Lbs.
Yds.
Yds.
Lbs.
519,432
511.046
547,961
124,020
108,538
96,674
93,642
92,130
98,785
148,159
131,159
117,182
113,721
110,136
118,380
4th qr. 67,268 57,680 1,761,390 1,578,439
329,232
284,557
390,500
342,237
104,615
91,501
116,325
106,585
98,881
118,915
127,319
113,587
142,142
127,954
118,178
143,057
24,139 20,079
22,621 18.006
D ee____ 20,508 19,595
Oct . . .
663,504
580,682
517,204
F e b ___
Mch . . .
22,704 21,369
22,086 19,297
25,817 24,142
2d q r ..
70,607 64,808 1,671.563 1,733,433
312,441
324,381
383,048
389,189
6 m o s .. 137,875 122,488 3,432,953 3,311,872
641,673
608,938
779,548
731,426
April . . 20,880 19,394
May - - - 22,70)' 20,775
June . . 21,663 18,813
97,968
104.822
97,171
97,197
101,781
96,656
118,848
127.530
118,831
116,591
122,569
115,469
58,982 1.614.78C 1,582,060
299,901
295,037
365,212
354,619
9 mos 203,126 181,470 5,047,730 1,894,532
941,634
904,575 1,144,760 1,086,045
3d qr
65,251
559,693
489,529
622,341
524,131
560,HOC
519,865
•
568,228
529,007
636,198
521,003
544,545
517,112
761
36,16
903
34,83 l
Total exports o f cotton manufactures......................................... 1,181,091 1,121,782
The foregoing shows that there had been exported from
the United Kingdom during the nine months 1,181,698,000
pounds of manufactured cotton, against 1,121,782,000
pounds last year, or an increase of 59,916,000 pounds.
S H I P P I N G N E W S . — As shown on a previous page, the
exports of cotton from the United States the past woek have
reached 27,715 bales. The shipments in detail, as made
up from mail and telegraphic returns, are as follows:
Total bales.
NEW
7.29
Y O R K — T o L iv e r p o o l— J u ly 17— C e ltic, 1,580 u p la n d ; 14
Sea Isla n d; 812 P e r u v ia n ---------- --------------------------- ------------------------“ •***•>
T o M anchester— J u ly 10— T h esp is, 2 1 ------------------------------------------21
To Hull—July 13—'Francisco, 200...................... ............................
200
.............
Total bales.
T o B rem en — J u ly 12— G eo. W a s h in g to n , 150------------ -----------T o H a m b u r g — J u ly 17— P residen t L in c o ln , 78 — ...........................
T o L eg h orn — J u ly 12— Italia, 2 0 0 -------------------------------------------------T o N aples— J u ly 17— C arpathla, 100............... ..................... - ..............
T o V en ice— J u ly 16— A rge n tin a , 4 0 0 - - - - - - - - - - - - - --------------------G A L V E S T O N — T o B rem en — J u ly 18— M lra m lch l, 4 , 6 5 3 ------------------T o H a m b u rg — J u ly 12— Sicilia,, 7 2 7 ---------------- -------------------------------N E W O R L E A N S — T o L iv e r p o o l— J u ly 16— J a m a ica , 2 ,6 8 2 --------------T o B elfast— J u ly 16— T o r r H e a d , 2 6 1 ------------------------------------------
T o H a m b u rg — J u ly 12— W errell, 6 n 0 -------------------------------------------T o M arseilles— J u ly 12— M rav, 57
- ......................................... - -
T o B a rcelon a — J u ly 12— M ra v , 3 ,3 0 0 ......................................................
T o V en ice— J u ly 12— M rav, 1 ,6 0 0 ...................... ......................................
T o T rieste— J u ly 12— M rav, 1 ,5 1 1 ----------- —
—
---------- --------S A V A N N A H — T o H a m b u rg— J u ly 12— A delheU l M cnzelt, 2 ,6 3 7 ___
T o O p o r to — J u ly 12— V id a g o , 1 0 0 ---------------- ----------- ---------------------T o B a rcelon a — J u ly 15— E m ilia, 3 ,1 9 3 -----------------------------------------T o G en oa— J u ly 15— E m ilia, 1 ,3 5 0 - ------------------ --------- --------------T o T rieste— J u ly 15— E m ilia, 2 0 0 _________ _______________________
B A L T I M O R E — T o B re m e n — J u ly 12— B r a n d e n b u rg , 0 0 0 ___________
P H I L A D E L P H I A — T o L iv e r p o o l— J u ly 12— I la v c r fo r d , 2 5 0 ----------
150
78
200
100
400
4 ,6 5 3
727
2,6 8 2
252
65 0
57
3 ,3 9 0
1,600
1,511
2,637
100
3,193
1,350
200
900
250
T o t a l ........ ..................................................................... ...............................................2 7,7 1 5
L IV E R P O O L .— By cable from Liverpool we have the fol
lowing statement of the week’s sales, stocks, &c., at that port:
June 2 8 .
Sales o f the w e e k _______b a le s .
6 0 ,0 0 0
O f w hich sp ecu la tors t o o k - 2 ,0 0 0
O f w hich ex p orters t o o k ___
1,000
Sales, A m e r ic a n _______________
52,000
A c tu a l e x p o r t __________________
5,000
F orw a rd ed ............................
57,000
T o ta l Stock— E s tim a te d ______1,003 ,000
O f w h ich A m e r ic a n ________ 938 ,0 0 0
T o ta l Im ports o f the w e e k ____
20,0 0 0
O f w hich A m e r ic a n ________
10,000
4 5 ,000
A m o u n t a flo a t __________________
O f w hich A m e r ic a n ________ ' 16,000
July 5.
62,000
4 ,0 0 0
3 ,0 0 0
52,000
7,000
8 1 ,000
1 ,000,000
8 7 1 ,0 0 0
23,0 0 0
5,000
54,000
3 0 ,0 0 0
July 12.
July 19.
64,0 0 0
9,000
2,0 0 0
51,000
3,0 0 0
71,000
951 ,0 0 0
8 1 9 ,0 0 0
2 5 ,0 0 0
12,000 "
,54,0 00
26,0 0 0
5 0 ,0 0 0
4,000
1,000
41,000
8,000
70,000
889,000
758 ,0 0 0
15,000
5,000
58,000
28,000
The tone of the Liverpool market for spots and futures
each day of the past week and the daily closing prices of
spot cotton have been as follows:
Spot.
Market,
12:15
P. M.
S tturday.
Monday.
Tuesday.
Quiet.
Good
demand.
Quiet.
Friday.
Wednesday. Thursday.
Quiet.
Good
demand.
7.21
7.22
7.15
7.25
7.20
7.24
8,000
500
10,000
800
8,000
1,000
7,000
800
10,000
1,000
8,000
1,000
Market,
4
P. M.
Firm at
Quiet unch.
1 14® 15 pts. to % pt.
decline.
/ advance.
Quiet at
8 points
decline.
Quiet at
2 @ 3 pts.
decline.
Quiet at
Firm at
Quiet at Quiet, %pt,.
12® 11 pts ndv. to 2% % pt.dec. to 1 ("4 % pts.
3 %nt8.adv. decline.
nt.s. dec.
J advance.
i
Steady at
3 points
advance.
Quiet at
6 points
advance.
Quiet at
% (" 1%
pts. dee.
Steady at
i % @ 5 pts.
advance.
The prices of futures at Liverpool for each day are given
below. Prices arc on the basis of upland, good ordinary
clause, unless otherwise stated.
J u ly 13
to
J u ly 19
...... ...
■■
Sat.
12 X
p .m .
J u ly ____
J u ly - A u g .
A u g .-S e p _
S e p t .-O c t .
O ct .-N o v ,
D e c .-J a n .
Jan .-F e b .
F c b .-M c h .
M c h .-A p r.
A p r .-M ay
M a y-J u n e —
!
12 Yt
p .m .
0
6
6
6
6
{>
6
6
6
6
6
6
96
95
89
81
76
72
71
71
72
73
73
74
M on .
T u e s.
W ed.
T h u rs.
!
Pri.
4
12 X 4 12 % 4 12 X 4 12 X 4
p .m . p .m . p .m . p.m . p .m . p .m . p .m . p .m . p .m . p .m .
12 X
98
95
91
97
94
89
92
89 % 84
% 82 14 79 % 74
% 77
68
74
70 34 04
34 72
% 72
69 % '63
% 72
6 9 % 63
73
70
63
73 % 71
64
% 74 % 71 % 65
% 75
7 2 % 66
96
98 % 00 % 9 7 % 96
94 % 94
96
99
% 97
89
94
9 0 % 89
% 92
76
77
80
81 % 77
70
71
75
71
74
06 K, 05
70
65 % 64
69
69 % 65
65 % 64
69
69 % 65
% 69 % 70
65
65 % 66
% 70 % 71
66
67
65
71
71 % 66 % 67 % 66
72
72 % 6 7 % 68
67
% 00
% 98 %
93 %
% 82
% 75 %
*4 71
% 69 %
% 70
70 %
% 71
72
73
00
98
93
80
74
70
69
69
69
70
71
72
%
%
%
%
------------ »
by some crop experts. A total for both spring and winter
wheat of at least 050,000,000 bushels is predicted, which
would compare with the crop last year of 021,338,000
bushels.
Kansas
alone
is
talking
90,000,000
to
100,000,000 bushels. A year ago it was only 51,000,000
bushels. The cool and fair weather has helped the plant,
which is heading in a satisfactory manner. Cutting is ex
pected in the Northwest in ten days to two weeks, so that the
crop is now practically out of danger. H ot winds alone could
cause much deterioration. Offerings of the country have
been freer as harvesting in the Southwest progresses. In
terior receipts show the effect of the movement, which should
soon force prices to an export basis. Farm reserves are light,
however, being estimated at some 15,000,000 bushels less
than last year. The world stocks continued to show season
able decrease, but this trend should soon be reversed. The
American visible supply fell off 3,148,000 bushels for the
week, which compares with an increase last year of 2,713,000
bushels. Foreign advices have been of much the same tenor
as here. Crop conditions are better in Europe and promise
well in the Argentine. However, the world will need our
surplus wheat and only awaits signs of stability before taking
hold. Sentiment has been practically all one way in the
speculative markets, and the fitful rallies merely represented
profit-taking by the bears. Considerable liquidation has
been in evidence, and the aggressive operations of the short
interests uncovered stop-loss orders. The growing move
ment from the interior tended to accelerate the decline. A
good export demand, however, would materially help the
situation. To-day wheat had a sharp recovery, largely on
foreign advices, the temporary closing of the Dardanelles
stimulated buying, as did large sales of wheat and flour for
export.
Sat.
Quiet.
H ales.........
Spec.& exp.
Futures.
■
D A I L Y C L O S IN G P R I C E S O F W H E A T F U T U R E S IN
1
>
j
Mid. U pl’ds
Market
opened
185
T H E C H R O N IC L E
July 20 11)12]
Mon. Tues.
NEW Y O R K .
Wed. Thurs. Fri.
N o . 2 r e d ___ . .
_ __________ c t s .1 1 6 % 1 1 3 % 1 1 1 H 109 % 108 % 1 0 8 %
J u ly d e liv e ry in e le v a t o r .
______ 1 1 4 % i l l 5* 1 1 0 % 1 0 8 % 1 0 7 j-g 1 08 %
S e p te m b e r d e liv e ry In e le v a t o r _____ 106 % 103 %
102 % 1 0 0 % 1 0 0 % 1 0 1 %
D A I L Y C L O S IN G P R I C E S O F W H E A T F U T U R E S IN C H IC A G O .
Sat. Mon. Tues. Wred. Thurs. Fri.
J u ly d e liv e ry in e le v a to r . .
_ _ c t s -1 0 4 % 101
99 % 97 %
96 % 97?*
S e p te m b e r d e liv e ry in e le v a t o r _____ 1 0 0 % 96 %
96%
93%
93 % 9 4 %
Indian corn followed the downward course of wheat. It
was the same story of favorable weather throughout the belt.
High temperatures followed by heavy precipitation in some
States and showers in others forced a rapid growth. Kansas
was predicting a large crop and Iowa also felt optimistic.
Naturally under the circumstances the bears were active.
They could see only one side to the situation and sold the
market on all rallies. Stress was laid in some quarters on
the fact that the crop was late. This suggested the possi
bility of a frost scare in the fall should backward conditions
not be made up. But the receipts in the interior are still
moderate and promise to continue so. Liqudation, it is
pointed out, has improved the technical position. Stocks
at Chicago are much less than a year ago. The visible sup
ply figures showed a decrease for the week of 992,000 bushels,
which compares with a falling off of 1,228,000 bushels last
year. A larger crop than the Government estimate is now
expected, though a decrease in the acreage will prevent a
record yield. To-day corn rallied sharply in sympathy with
wheat. Crop reports were poorer, causing short covering.
Itain was needed badly in some sections.
D A I L Y C L O S IN G P R I C E S O F N O . 2 M I X E D C O R N IN N E W Y O R K .
BREA D STU FFS.
F rid a y Night, J u ly 19 19P2.
Flour is still heavy, and the downward tendency is not
conducive to activity. It is a hand-to-mouth buying, for
further readjustment is expected. Lower prices are regarded
as inevitable, for wheat has reacted sharply. Pressure will
be felt soon from spring wheat, as the concentration of re
ceipts at primary points in the Northwest will prove burden
some. This fact doubtless explains the greater inclination
of the spring-wheat millers to make quotations for new flour.
The Southwestern mills are more disposed to maintain prices,
as Kansas wheat had a greater field o f distribution. But the
moderate concessions announced so far do not stimulate
buying. It is felt that a conservative policy will pay in
the end.
Wheat reacted sharply and met with little resistance on
the decline. It was a case of too favorable weather through
out the country in both the winter and spring-wheat dis
tricts. In the Southwest conditions are ideal for harvest
ing, scattered showers having little retarding effect. While
there were exceptional stories of unsatisfactory results,
these could be traced to bad soil or poor seed. In fact,
the yield in quite a few localities is better than expected.
It may well bo, therefore, that winter wheat will make a
larger crop than the Government report indicated. It will
be recalled that the crop last year was 430,050,000 bushels,
so that a total of even 400,000,000 bushels would be well be
low the average. But no such crop is expected. The de
ficiency will bo made up in the spring-wheat belt, where one
of the largest crops on record is forecasted. Timely rains
saved the situation in the American Northwest. The same
is true of Canada, where doleful complaints were beginning
to put in an appearance. The fear of damage from black
rust has ovaporated. There is always rust in the wheat
field,but the red kind now in evidence need cause no anxiety.
Estimates of the spring-wheat crop have been invariably
large. For North and Sout
Dakota and Minnesota a
yield of 200,000,000 to 275,000,000 bushels is figured out
Sat.
Mon. Tues.
Wed. Thurs. Fri.
Cash c o m _____ __________________ c t s .N o m . N o in . N orn . N orn . N o m . N o m .
J u ly d e liv e ry In e l e v a t o r ...-------------N o m . N o m . N o m . N o m . N o m . N o m .
D A I L Y C L O S IN G P R I C E S O F C O R N F U T U R E S IN C H IC A G O .
Sat.
J u ly d e liv e ry in e le v a t o r _______c t s . 74 %
S e p te m b e r d e liv e ry In e le v a t o r ____ 6 9 %
Mon. Tues.
73 %
68
72%
67 %
Wed. Thurs. Fri.
72
66%
70 %
64%
69%
65%
Oats have reacted in sympathy with wheat and corn.
The feature has been pressure'of hedge selling against thenewcron movement. There has been heavy liquidation of July,
with the bears the best buyers. Weather conditions have
been favorable, and a large crop is promised in practically
all sections. Large sales of oats to arrive have been made.
Harvesting is already under way in Illinois and other W est
ern States. Primary receipts are still comparatively mod
erate but should soon show the effect of the crop movement.
To-day oats advanced largely in sympathy with wheat and
corn. The short interest covered on the theory that the
decline had gone far enough for the present.
D A I L Y C L O S IN G P R I C E S O F O A T S IN N E W Y O R K .
Sat.
Mon.
Tues. Wed. Thurs. Fri.
S t a n d a r d s _______ ___________ c t s . 56 % @ 5 7 5 8 @ 5 8 %
57%
58 58 5 7 %
N o . 2 w h it e ............ ................ ......... 5 7 @ 0 7 % 5 8 ® 5 8 %
57%
58 58 5 7 %
D A I L Y C L O S IN G P R I C E S O F O A T S F U T U R E S IN C H IC A G O .
Sat.
J u ly d e liv e ry In e le v a t o r _______c t s . 4 4 %
S e p te m b e r d e liv e ry in e le v a t o r ____ 3 5 %
Mon. Tues.
43%
34%
42%
33%
Wed.
41%
33,%
Thurs. Fri.
41%
33
42%
33%
Closing prices were as follows:
W in te r, lo w g ra d e s____ $3
W in te r p a te n ts _________ 5
W in te r s tra ig h ts _______ 5
W in te r c le a rs___________ 4
S p rin g p a te n ts .................. 5
S prin g s tra ig h ts ............... 5
S p r in g c le a r s ............... ....... 4
FLOUR.
~
$4 1 0 1K ansas straigh ts, s a c k s .$5 0 5 ® $5 15
5 8 5 1K ansas clears, s a c k s —
4 1 5 @ 4 55
5 lO IC lty p a te n ts -------------------- 6 6 0 @ 6 90
4 8 0 1R y e flou r-------------------------- 4 2 5 ® 4 50
5 60 I G raham flo u r ..................... 4 0 0 @ 4 70
5 50|Corn m eal, kiln d r i e d . . 4 2 5 @ ____
5 1 0 1B u ck w h e a t, c w t ----------N o m in a l
G R A IN
C orn , per bu sh el—
Cents.
N o . 2 -------------e le v a to r
$1 1 4 %
79%
1 10
S team er ____ e le v a to r
N om in a l
1 08%
N o . 3 ...................... c . i . f .
N om in a l
. 1 14% R y e , per bu sh el—
Cents.
N o . 2 W e s te rn _______
N om in al
. 57%
S ta te & P e n n sy lv a n ia
N om in al
. 57% B a rley— M a l t i n g _______
N om in al
75@
65®
05@
60®
35®
00@
85®
W h e a t, p er bu sh el— I. o . b .
N . S p rin g , N o . 1_________
N . S p rin g , N o . 2 _________
R e d w in ter, N o . 2 ------------H a rd w in ter, N o . 2 ----------O ats, per bushel, new —
S tan d ard s ________________
N o . 2 w h ite ______________
57
N o . 3 ........................... ............. .
For o th e r ta b le s u su a lly g iv e n here, sec page 165.
186
T H E C H R O N IC L E
The visible supply of grain, comprising the stocks in
granary at principal points of accumulation at lake and
seaboard ports July 13 1912, was as follows:
U N IT E D STATES G RAIN STOCKS.
Amer. Bonded Amer. Amer. Bonded Amer. Amer. Bonded
.Wheat. Wheat. Corn. Oats. Oats. Bye. Barley. Barley.
bush. bush. bush. bush. bush. bush. bush. bush.
In Thousands—
New Y ork .................. -----29
Boston ....................
Philadelphia_______
Baltimore ......... .. . . .
208
New Orleans_______
Galveston .............
..
55
Buffalo ............... .. . . _
709
loled o
... .
... ...
029
D e tr o it ______ _____ . . .
214
Chicago ___________ . . . 8,385
Milwaukee ............... . . .
5
D u lu th ____________ . . . 3,248
M ln neaoolis_______ . . . 5,227
St. T ouis_________ . . .
148
Kansas City_______ . . .
214
P eoria ________
In d ia n a p o lis____ . . .
76
O m a h a ____
...
50
Oh Takes______
On Canal and R iver... . .
10
346
230
385
20
891
174
22
12
271
.258
3
531
73
149
3,055
174
514
279
31
82
719
OS
29
69
18
23
60
35
96
25
225
421
—
90
21
90
108
19
90
140
52
330
571
402
34
1
3
28
1
10
l
47
84
221
Total July 13 1912 . . .20,084 2,293 6,372 2,498
308
Total July 0 1912 ...2 1 ,4 0 3 2,024 7,355 3,210
—
Total July 13 1911 ...2 9 ,1 5 3
____ 10,581 12,001
CAN AD IAN G R A IN STOCKS.
89
100
19
137
20
34
99
1
31
9
6
241
20
—
29
—
27
7
—
403
432
17
—
430
489
707
145
134
____
Canadian Bonded Canadian Bonded Canadian Bonded
Wheat. Wheat. Corn. Oats. Oats. Rye. Barley. Barley.
bush. bush. bush. bush. bush. bush. bush. bush.
009
0
Montreal _________ . . 1,261
5
In Thousands—
Fort. W illiam .. . _,. . . 3,150
Port Arthur__ _ _. . . . 1,780
Other Canadian____ . . . 3,946
Total July 13 1912....1 0 ,1 4 0
Total July (>1912. .11,226
Total July 15 1911 . 5,919
—
1,410
983
2,133
—
9 5,135
1 5,000
072 5,109
____
SU M M ARY.
Bonded
Wheal. Wheat. Com.
bush. bush. bush.
In Thousands— '
American
__
. . ...2 0 .0 8 4
C a n ad ian ______ . - ...1 0 .1 4 0
Total July 13 1912 ...3 0 ,2 2 4
Total July 0 1912....3 2 ,6 2 9
Total July 15 1911 ...3 5 ,0 7 2
2,293
—
6,372
9
____
____
—
—
Bonded
Oats. Oats.
bush. bush.
2,498
5,133
221
—
2,293 6,381 7,0.31
2,024 7,350 8,270
—
11,253 17,230
221
308
—
—
—
—
5
7
35
____
____
Bonded
Rye. Barley. Barley.
bush. bush. bush.
403
—
430
5
145
403
432
17
435
490
802
145
134
—
T H E D R Y GOODS T R A D E .
New Y ork, F riday N ight , J u ly 19 1912.
Viewed from all directions, the dry goods situation is de
cidedly firm, with conditions in every respect favoring sellers.
Constantly advancing prices on all descriptions of raw ma
terial with mills sold up to, and in many cases beyond, their
capacity for the next two or three months are the chief fac
tors making for higher values. In woolens and worsteds
manufacturers of men’s wear lines have completed prepara
tions for the opening of their new spring lines, and advances
ranging from 10 to 1 5 % are looked for in the initial quota
tions. Several manufacturers who had opened their spring
linos prematurely and accepted considerable business, par
ticularly in serges, at advances of only 5 % above last year,
now regret their action, as they see that they will bo com
pelled to revise their initial quotations and that the busi
ness booked will not be profitable. They had evidently
failed to realize the extent to which raw wool would ad
vance in price, and are still doubtful as to its future cost
when endeavoring to compute values for distant delivery.
In staple cottons a like situation prevails, with the ex
ception that a very important branch of the market, namely
the exporting division, is practically at a standstill. This is
due to external causes, such as the political disruption in
China and the Turco-Ttalian war, rather than any weakness
in the foreign demand. The sharp advance in the price of
raw cotton, with a resultant increase in the cost of yarns
and goods in the gray, has compelled manufacturers of staple
cotton goods to ask higher prices. That manufacturers
cannot avail themselves of the excellent opportunities for
new business is largely their own fault. They have curtailed
their operations for so long, producing goods only against
actual orders, that, now that the retail and distributing
channels are opening and goods beginning to move more
rapidly, they have no surplus against which to draw. Com
plaints arc heard from all directions regarding the tardiness
of deliveries, and buyers are expressing much anxiety over
the getting of supplies for the coming spring season. Jobbers
are holding commission houses and manufacturers strictly
to their original contracts, and are determined not to lose
goods which were ordered earlier at prices considerably be
low those now prevailing. The New Bedford strike is
causing converters to fear that they will be unable to get
goods in time to complete their lines for spring, and they
anxiously hope for an early settlement of the differences.
DOM ESTIC COTTON GOO DS.— The exports of cotton
goods from this port for the week ending July 13 were 8,038
packages, valued at $5418,229, their destination being to the
points specified in the table below:
New York to July 13—
Week.
G reat B ritain ........................
............ .
56
O th er E u r o p e ...................... ........... .. . . . . . .
t
C h in a ________ . .
.. . _
. . . ____1,054
In d ia ... ..... ....................... .............. .............. 3,345
A r a b i a . . . ................... ........... .... ______ _ 84.3
A f r i c a ............ . __ _. . . . . . .
______
1,039
W es t I n d i e s . . . .
______. . . . .
.
. . . 897
M exico . . . . . . . . . _____________ _______ 100
C entral A m e r ic a ____ _____________ ________ 458
S ou th A m e r ic a —
. . ________ ________ 078
O th er c o u n t r ie s -------- ------------------ ________ 101
T o ta l
8,038
------- 1911
Jan. 1.
Week. Jan. 1 .
5
51
2,987
1.239
48,009
10,600
35,507
M ,7 7 9
27,208
1,801
12,019
39,838
38,240
730
50
659
084
53
879
2,000
241
453
508
53,916
17,312
1 1,788
6,950
.21,945
1,290
1 1,163
3 1,037
20,817
238,293
3,408
180,243
[ VOL. L X X X X V ,
The value of these New York exports since Jan. 1 has been
$15,427,307 in 1912, against $12,831,203 in 1911.
Improvement continues to be noted in the domestic cotton
markets, both as regards the volume of business and move
ment of prices.
While the buying has not been large, it has
been well scattered, and indications are that the trade is
moving towards greater activity. Buyers are more urgent
in their requests, and it is evident that supplies in many
quarters are limited. Denims, duck, tickings and staple
ginghams have been in good demand. Sheetings and drills
are firmly held, although there has not been any noticeable
increase in the buying of these lines. Many complaints are
heard of slow deliveries, and merchants are being hampered
by their inability to secure goods on time. Deliveries of
napped goods are particularly slow. Jobbers have been in
formed that the delays are due to causes beyond the control
of mills. It is true that in many cases business was placed
early enough for flannels, blankets and flannelettes, but
mills have been unable to operate at full capacity, owing to
labor complications, and, therefore, are way behind, with
the outlook very poor of their catching up before the summer
is over. Bleached cottons rule very firm, with advances
announced on some lines. Print cloths and convertibles
are firmly held, with sales consisting mostly of small lots
for quick shipment, although some business has been trans
acted for late fall delivery. Gray goods, 38j^-inch standard,
are quoted at 5;kt cents.
W O O L E N GOODS.— Men’s wear and dress goods markets
have been active and very firm. During the latter part of
the week the American Woolen Co. opened a number of lines
of men’s wear for the spring 1913 season and announced ad
vances ranging from 73^ to 20 cents a yard, as compared with
last season’s opening quotations. These prices were a great
deal higher than many in the trade had expected. The
upward tendency is due to the increaeing cost of the raw
material. Many mills are well booked ahead with business.
F O R E IG N D R Y GOODS.— Linen market displays mod
erate activity, with prices firmly maintained. During the
week there has been a seasonable demand for dress linens and
housekeeping lines for quick shipment, while there has also
been considerable purchasing for fall delivery. Buyers have
been making inquiries about values for the spring 1913
season, but nothing could be learned. In view of the en
couraging reports regarding the flax crop, it is hoped that
mills will be able to see their way clear to make reductions.
Burlaps continues firm, with a fair business transacted.
Light-weights are quoted 5c. higher at 5.40c., and 1 0 ^ ounce 10c. higher at G .75@ 7c.
Importations and Warehouse Withdrawals of Dry Goods.
The importations and warehouse withdrawals of dry goods
at this port for the week ending July 13 1912 and since
Jan. 1 1912, and for the corresponding periods of last year,
were as follows:
T H E C H R O N IC L E
J uly 20 1912]
S T A T E ADB
News Items.
Louisiana.— Legislature A d jou rn s. —
T h e L e g is la tu r e o f th is
S t a t e a d jo u r n e d a t m id n ig h t o n J u ly 1 1 .
A m o n g th e m o re
i m p o r t a n t m e a s u r e s p a s s e d a t t h e s e s s io n j u s t c lo s e d w e re
r e s o l u t i o n s p r o v i d i n g f o r t h e s u b m i s s i o n t o t h e v o t e r s in
N o v e m b e r o f p r o p o s e d c o n s t it u t io n a l a m e n d m e n t s to r e fu n d
t h e S t a t e d e b t b y is s u i n g b o n d s a n d p r o v i d i n g a s p e c ia l t a x
a n d t o r e c a ll p u b li c o f f i c i a ls e x c e p t j u d g e s .
New Hampshire.— Proposed Constitidional Am endm ents .—
T h e C o n s titu tio n a l C o n v e n t io n , w h ic h a d jo u r n e d J u n e 2 2
p r o v i d e d f o r t h e s u b m i s s i o n t o t h e v o t e r s in N o v e m b e r o f
tw e lv e p r o p o s e d a m e n d m e n t s to th e S t a t e c o n s t it u t io n . T h e
q u e s t i o n s t o b e p la c e d o n t h e b a l l o t s a r e a s f o l l o w s :
I . D o y o u a p p ro v e o f increasing th e Sen a te to 30 m em bers an d d iv id
ing the S ta te Into sen atorial districts on the basis o f p o p u la tio n , as p rop osed
In th e a m en d m en t t o th e c o n s titu tio n ?
..
.
2 D o y o u a p p ro v e o f am en d in g the p ro v is io n as to re p resen ta tion In the
H ouse o f R ep resen ta tives b y m aking 000 in h abitan ts necessary t o the elec
tio n o f o n o rep resen tative and 2,400 Inhabitants necessary fo r t w o repre
sen tatives and 1,800 necessary fo r each a d d itio n a l re p re se n ta tive , w ith the
p r o v is o th a t a tow n , w ard or place h a v in g less th an 000 In h ab itan ts m a y
sen d a represen tative a p ro p o rtio n a te part o f th e tim e o r that such to w n s,
w ards and places, w hen co n tig u o u s , m a y u n ite t o e le ct a re p re se n ta tive ,
If each t o w n so deck les b y m a jo r v o te , as p ro p o s e d in the a m e n d m e n t to
th e CM S titution ? o Ve o f eml)0WCring the L egislatu re to s p e cia lly assess,
rate and ta x grow in g w o o d an d tim b e r an d m o n e y a t interest, Inclu din g
n on ov in savings ban ks, and to im p ose and le v y ta x e s on in com es fro m s tock
o f foreign co rp o ra tio n s and foreign v o lu n t ir y .associations and m o n e y at in
terest e x c e p t Incom es from m o n e y d e p o s ite d in savin gs ban ks in this S tate
received b y the d ep o sito rs, an d to grad u a te such taxes a c c o r d in g to the
a m ou n t o f the Incom es, and to gran t reason able e x e m p tio n s , w ith t le p ro v i
s io n th a t if such taxes be levied o n Incom es fro m s to c k an d m o n e y a t interest
no oth er taxes shall be levied thereon again st the o w n e r o r h old er th e re o f, as
p rop osed In the a m en d m e n t to the co n stitu tio n ?
4 . D o y o u a p p ro v e o f p r o v id in g th at taxes assessed u p on the passing o f
p r o p e r ty b y will o r in heritan ce o r in co n te m p la tio n o f d e a th m ay be graded
a n d rated In a c co rd a n ce w ith the a m o u n t o f p ro p e rty passin g an d w ith the
d egree o f rela tionship betw een the be n e llcia ry an d the person fro m w h o m
it passes: and reason able e x e m p tio n s m a d e , as p ro p o se d In the a m e n d m e n t
t o the c on stitu tion ?
,
. . .
,
.
r> D o y o u a p p ro v e o f em p o w e rin g th e Legislature to Im pose a ta x u p o n
th e Incom es o f p u b lic se rv ice co r p o r a tio n s and v o lu n ta r y asso cia tio n s, in
lieu o f a d irect ta x u p on th eir p r o p e r ty , as p ro p o s e d In the a m e n d m e n t to
tin, ° ^ ^ t ' t0uutl" p ?p r o v c Qf am e n d in g the Bill o f R ig h ts b y strik in g o u t the
w ord s " r ig h tly g rou n ded o n e- a igellcal p rin cip le s ,” a fte r the w ord s A s
m o r a lity and P ie t y .” an d s trl’ l lg o u t th e w o rd " P r o t e s t a n t " b e fo re the
w ord s “ teachers o f piety, rclig o i an d m o r a lit y ," as p ro p o se d in th e a in e n d ment t o the ccnistitutkjm n r o v j(j|ng
n ,, person shall h a ve the rig h t to
nl. t,o eligible for o ffic e , w h o shall h a ve been c o n v ic te d o f treason,
b r lb e r v o r w ilful v io la tio n o f e le ctio n law s, w ith the rig h t to the S up rem e
C ou rt to restore such privileges, as p ro p o se d in the am e n d m e n t to the
187
S ta te g o v e r n m e n t a n d S ta te in stitu tio n s, an d em ergen cy law s necessary
p ro p o se d in this m anner and a p p ro v e d b y the v o te rs shall be s u b je c t t o th e
v e to o f th e G o v e rn o r. A n y law passed b y the Legislature m ust be s u b m it
ted to the p e o p le If such su bm ission Is p e titio n e d fo r b y 0 % o f th e electors.
Law s p ro v id in g fo r ta x levies, .appropriations fo r th o cu rren t expenses o f
the S ta te g o v e r n m e n t an d S ta te in stitu tio n s, an d e m e rge n cy law s necessary
fo r th e Im m ed iate p reserva tion o f th e p u b lic peace, health o r sa fe ty shall
n o t be s u b je c t t o th e referen d u m , nor shall the in itia tiv e or referen d u m be
used to pass a law a u th o rizin g a n y cla ssification o f p ro p e rty fo r th e pu rpose
o f le v y in g d ifferen t rates o f ta x a tio n th e re o n o r o f a u th o riz in g the le v y o f
a n v single ta x o n lan d o r lan d valu es o r land sites a t a h igh er rate or byT a
diirerent rule than is o r m ay be ap p lie d t o im p ro v e m e n ts th ereon , or to
personal p r o p e r ty .
I f a p p ro v e d b y the v o te r s , this a m e n d m e n t w ill take
effect O c t . 1 1912.
N o. 7 .— (A r t. I I , S e c . 8 .)— Investigations by Each House of the General
Assembly.— A u th o riz e s th e Legislature t o e n fo rce the a tte n d a n ce an d testi
m o n y o f w itnesses t o o b ta in in fo rm a tio n a ffe ctin g legislative a c t io n , o r w ith
reference to a n y alleg ed breach o f Its p rivileges o r m is c o n d u c t o f its m em b ers .
N o . 8 .— (A r t. I I , S e c. 16 .)—Limiting Veto Power of Governor.— A llow s the
re-passage o f bills o v e r the G o v e rn o r’s v e t o b y ath ree tilths m a jo r ity instead
o f tw o -th ird s as a t presen t.
N o. 9 .— (A r t. I I , S e c . 3 3 .)— Mechanics' and Builders’ Liens .— P rov id es
th at laws m a y be passed t o secure t o m ech an ics, builders, & c., th eir ju s t
dues by d ir e ct lien u p o n p r o p e r ty u p o n w h ich th e y h a v e b e sto w e d la b o r or
fu rn ish ed m aterial.
N o. 10.— (A r t. I I , S e c . 3 4 .)— Welfare of Employees.— T h is a m en d m en t
p rovides th at law s m a y be passed fixin g an d regu latin g the h ou rs o f labor,
establishing a m in im u m w age and p r o v id in g fo r th e c o m fo r t , h ealth , sa fety
and general w elfare o f all e m p lo y e e s .
N o. 11.— (A r t. I I , S e c . 35.) — workmen’s Compensation.— P ro v id e s that
fo r the p u rpose o f p ro v id in g co m p e n s a tio n t o w ork m e n a n d th eir d ep en d
ents, fo r d e a th , inju ries o r o c c u p a tio n a l diseases, o cca s io n e d In th e cou rse
o f e m p .o y m e n t, law s m ay be passed e stablish in g a S ta te fu n d t o be crea ted
b y co m p u ls o ry c o n tr ib u tio n th e re to b y e m p lo y e rs, an d ta k in g a w a y a n y
o r all rights o f a ctio n o r d e fe n ce fro m e m p lo y e e s an d e m p lo y e rs, b u t no
rig h t o f a ctio n shall be taken fro m a n y e m p lo y e e w hen the in ju ry o r death
results fro m failure o f the e m p lo y e r to c o m p ly w ith a n y law ful requ irem en t
fo r the p r o te c tio n o f e m p lo y e e s .
L a w s m a y be passed. It Is fu rth er p ro
vid e d , establishing a b o a rd w hich m a y be e m p o w e re d t o cla ssify all o c c u
p ations a c c o r d in g to th eir degree o f hazard, fix rates o f c o n tr ib u tio n to
such fu n d , d istrib u te the sam e and de te rm in e all rights o f cla im a n ts th ereto.
N o. 12.— (A r t. II, S e c . 3 5 .) — Conservation of Natural Resources.— A u
th orizin g the passage o f laws t o e n cou ra ge fo re s tr y an d to p ro v id e fo r the
c o n se rv a tio n ojE the natural resources o f th e St- tc .
N o . i 3 .— (A r t. I I , S e c. 3 7 .)— Eight-Hour Day on Public Work .— P rov id es
that e x c e p t in cases o f ex tra o rd in a ry e m e rg e n cy , n o t to e x c e e d 8 hours
shall c o n s titu te a d a y 's w ork , an d n ot e x ce e d in g 48 hours a w e e k 's w ork fo r
w ork m en en gag ed o n a n y p u b lic w o rk carried o n b y the S ta te o r a n y p o l lt No* 14*— (A r t? H , S e c. 3 8 .)— Removal of Officials.— S tates th a t law s shall
be passed p ro v id in g fo r the p r o m p t r e m o v a l fro m o ffic e , u p o n c o m p la in t
and hearing o f all o ffice rs, in clu d in g S ta te office rs, ju d g e s an d m em bers
o f the L egislatu re, fo r a n y m is co n d u ct in v o lv in g m oral tu rp itu d e or An
o th e r cause p ro v id e d b y law , and this m e th o d o f re m o v a l shall be In a d d i
tion to 1 n p e a ch m e n t o r o th e r m e th o d a u th orized b y th e co n s titu tio n .
i 5 __ ( A it . I I , S e c. 3 9 .)— Regulating Expert Testimony in Criminal
Trials __ Provides merely that laws may be passed for this purpose.
N o ' l O __ (A r t. I I , S e c . 4 0 .)— Registering and Warranting Land Titles.—
Gives Legislature right to provide for a system of registering, transferring,
nsuring and guaranteeing land titles by the State or counties thereof.
N o 17.— (A r t. I I , S e c . 4 1 .)— Abolishing Prison Contract Labor.— P ro
hibits c o n tr a c t labor an d p ro v id e s th at all g o o d s m ad e b y the S ta te in penal
in stitu tion s, e x c e p tin g those disp osed o f to th e S ta te o r p o litic a l su b
division th e re o f or a n y p u b lic in s titu tio n o w n e d , m an aged o r c o n tro lle d
b y th e sam e, shall be m arked " P r is o n M a d e ."
N o 1 8 __-(A rt. I l l , S e e .8 .)— Limiting Power of General Assembly in Extra
Sessions .’ __L im its w ork o f special session t o those s u b je c ts m e n tion ed in
G o v e rn o r’s call o r su bsequ en t m essage.
N o 1 9 __ (A rt I V ., S ecs. 1, 2 & 6 .) — Change in Judicial System.— Creates
con stitu tion ^ a p l)rov o 0f p a v in g the G o vern or, C ou n cillors an d Sen a tors
co u r ts o f app eals to ta k e the p la ce o f th e present cir c u it c o u r ts : gives
electe d b y p lu rality Instead o f m a jo rity v o te , as p ro p o s e d in the am e n d m e n t
co u rts o f a p p eals final ju r is d ic tio n in all cases in w h ich the d eath p en a lty ,
life Im prisonm ent or co n stitu tio n a l qu estion s are n o t in v o lv e d ; increases the
t 0 fltUD o °v o u app 'rove o f a m en d in g the Bill o f R ig h ts b y strik in g o u t the
nu m ber o f S u p rem e C ou rt Judges fro m six to seven an d creates the o ffic e o f
p rov is ion th at pensions shall n o t be gran ted fo r m ore th an o n o y ear a t a
C h ief Ju stice , w h o is to be e lected b y the p eop le; p ro v id e s fo r " o n e trial
tim e as p r o p o s 'd in the am e n d m e n t to the co n s titu tio n .
and on e r e v ie w " e x c e p t in c h a n ce ry cases.
10.
D o vou a p p ro v e o f e m p o w e rin g the Legislature t o g iv e p o ice c o u r ts N o 2 0 __ (A rt IV S ecs. 3 , 7 , 12 & 15 .)— Judge of Court of Common Pleas
Jurisdiction to tr y and d eterm in e, s u b je ct to the rig h t o f ap p ea l an.l trial
for Each County.— A b o lish e s c o m m o n pleas districts a n d giv e s each c o u n ty
C j u r y crim in a l'ca u se s w herein the pu n ish m en t is less th an Im prison m en t
a t least o n e resident Judge; p ro v id e s th at c o m m o n picas an d p r o b a te cou rts
In the S tate prison , as p ro p o s e d in the a m e n d m e n t to th e c o n s titu tio n ?
m ay be co n s o lid a te d b y a referen d u m v o t e .
If this a m e n d m e n t Is a d o p te d ,
I I . D o vou a p p ro v e o f the requ irem en t th at the L cg is la tu ie , In d iv id in g
ju d g e s o f th e c o u r ts o f c o m m o n pleas in o ffic e o r e lected th e re to p rior to
th e S tate in to C ou n cillor districts, shall be g o v e rn e d b y th e p o p u la tio n
as
j a n 7 1 1913 shall h o ld their o ffic e fo r th e term fo r w h ich th e y w ere e lected ,
p r o p o s e d In the am en d m e n t to the co n stitu tio n ?
and the ad d ition a l ju d g e s p ro v id e d fo r shall be ele cte d at th e general elec
12.
Do you a p p ro v e o f g iv in g the G o v e rn o r a u th o r ity to a p p ro v e o r d is tion in 1914- each c o u n t y to c o n tin u e as a p art o f its e x is tin g c o m m o n
a p p ro v e a n v separate a p p ro p ria tio n c o n ta in e d in a n y bill or r esolu tion — as
pleas d is tric t until on e resid en t ju ,ge is ele cte d an d q u a lified.
p r o p o s e d in th e a m e n d m e n t to th e c o n stitu tio n ?
N o 21 — (A r t. I V ., S e c. 9 .)— Abolition of Justices of the Peace m Certain
Cities — E lim inates ju r is d ic tio n o f Justices o f th e pe a ce In tow n sh ip s h a v
S u c h o f th e p r o p o s e d a m e n d m e n t s a s s h a ll b e a p p r o v e d
ing m u n icipa l co u rts w ith like Ju risdiction.
,
,
0
„
s h a l l t a k e e f f e c t a n d b e in f o r c e w h e n t h e i r a d o p t i o n is p r o
If th e am e n d m e n t t o A r t . I V ., S e cs. 1, 2 and 6 .b e a d o p te d , then S cc.9
o f A rt IV is repealed an d the fo re g o in g a m e n d m e n t shall be o f n o effect.
c l a i m e d b y t h e G o v e r n o r , p r o v i d e d t h a t n o a m e n d m e n t s h a ll
N o *22.— (A r t. I V ., S e c . 2 1 .)— Contempt Proceedings and Injunctions.—
a f f e c t th e e le c tio n a n d m e m b e r s h ip o f th e L e g is la tu r e o f 1 9 1 3 .
P ro v id e s "that n o in ju n ctio n shall be issued in la b o r d isp u tes e x c e p t to p r o
te ct life am i p ro p e rty ; and persons ch arged In co n te m p t p ro ce e d in gs w ith
New Orleans, L a . — Election on Com m ission Form o f Govern v io la tin g such an in ju n ctio n shall b e e n title d t o trial b y ju r y .
N o 2 3 __ (A r t. V ., S e c . 1 .)— Woman’s Suffrage.— G ives w o m en equal
ment .— T h e L e g i s l a t u r e h a s p a s s e d a b ill p r o v i d i n g f o r th e
suffrage b y ch an gin g the w ord s " w h it e m ale c it iz e n " In the present c o n s ti
s u b m is s io n to th e v o te r s o n A u g . 2 8 o f a p r o p o s itio n to e s t a b
tu tio n t o “ e v e r y c it iz e n .”
N 0 24 __ (A rt. V ., S ec. 1 .)— Omitting Word “ White . " — M akes negro su f
li s h tlie c o m m i s s i o n p l a n o f g o v e r n m e n t .
fra ge co n stitu tio n a l b v ch a n gin g the w ord s “ w h ite m ale c itiz e n ” t o " m a le
Ohio.— Proposed Constitidional Am endm ents. — O n S e p t . 3 c it iz e n ." I f the w o m a n ’s suffrage am e n d m e n t is a d o p te d , then this
am en d m en t, It is p ro v id e d , shall be o f n o e ffe c t.
.
t h e r e w ill b e s u b m i t t e d t o t h e v o t e r s o f t h i s S t a t e f o r t y - o n e
No 25,
(A r t. V ., S e c. 2 .)— Use of Voting Machines .— P erm its use o f
p r o p o s e d a m e n d m e n t s t o t h e c o n s t i t u t i o n , d r a f t e d b y th e
V° N o K2 6 a— '(A rt.' V ., S e c. 7 .)— Primary Elections.— P r o v id e s fo r d irect p ri
F o u r t h C o n s t i t u t i o n a l C o n v e n t i o n , w h ic h w a s in s e s s io n f r o m
m aries fo r th e n o m in a tio n o f all State, district an d c o u n t y o ffice rs, e x c e p t
J a n . 8 to J u n e 1.
O n e o f t h e s e a m e n d m e n t s ( N o . 3 2 ) is o f
in m u n icipa lities w ith a p o p u la tio n o f less th an 2 ,0 0 0 . '1 iio la tter m ay se
cure
d ire ct prim aries on p e titio n o f a m a jo rity o f the v o te r s . 1 he prop osa l
u n u s u a l in t e r e s t t o d e a l e r ^ a n d i n v e s t o r s in b o n d s is s u e d
also p ro v id e s fo r P residential preferen ce prim aries an d th e e le ctio n o f U . S.
b y t h e S t a t e o f O h i o o r it s m u n i c i p a l i t i e s , a s it p r o v i d e s f o r
Sen a tors b y d ir e ct v o t e o f the p e o p le .
N o 27 — (A rt. V I ., S e c. 3 .) —Organization of Boards of Education.— P r o
th e t a x a t i o n o f a ll s u c h s e c u r i t i e s e x c e p t t h o s e a t p r e s e n t
vid es fo r the orga n iza tio n , adm in istra tion and c o n tr o l o f the p u b lic sch ool
o u tsta n d in g .
In
a d d itio n
to
th e
fo r t y -o n e
p ro p o sa ls
svstem o f the S ta te , s u p p o rte d b y p u b lic fu n d s, e x c e p t th a t each sch ool
d is trict em b ra ce d w h o lly o r in p art w ith in a n y c it y shall h a ve th e pow er
r e fe r r e d t o , a v o t e w ill a l s o b e t a k e n o n t h e q u e s t i o n o f lic e n s e
to de te rm in e fo r Itself, b y referen d u m v o te , the n u m b e r o f m em bers and
t o t r a f f i c in i n t o x i c a t i n g l i q u o r s .
T h e severa l a m e n d m en ts
orga n iza tion o f the d istrict b o a rd o f e d u ca tio n .
N o 2 8 __ (A r t. V I .. S e c . 4 .)— Creating the Office of Superintendent of
to b e p a s s e d u p o n a re a s fo llo w s :
Public Instruction to Replace the State Commission of Common Schools.—
N o l — (A rt I Sec 5 .)— Reform in Civil Jnru System.— T h is am en d
T
o
tak e effect if a d o p te d , the secon d M o n d a y o f J u ly , 1913.
m e n t'p r o v id e s th a t In civ il cases laws m ay be passed to a u th o rize the ren
N o 29 __ (A rt. V I I I ., S e c . 1 .)— To Extend State TIond Limit to %50,000,000
d e r i n g o f a v er d ic t b y the c o n cu rre n ce o f n o t less than th re e -fo u rth s o f the
for Inter-County Wagon Roads.— P erm its L egislatu re t o issue $ 50 ,000 ,00 0
b on d s (n o t m ore than $1 0 ,0 0 0 ,0 0 0 in a n y on e year) fo r a system o f in terIU1N o . 2 .__ (A r t. I. S e c . o . ) — Abolition of Capital Punishment.— P ro vid e s
th a t persons c o n v ic te d o f crim es h e re to fo re pun ish ab le b y d e a th shall be
C° N o ^ 30°— ( A r t f V I I I .. S e c . 6.)— Regulating Insurance.— G ives rig h t t o
pu n ish ed b y Im prison m en t In th e pe n ite n tia ry du rin g life.
Insure n u b ile buildin gs in m u tu al fire insurance c o m p a n ie s.
N o . 3 .— (A rt. I S e c. 1 0 .)— Depositions by State and Comment on Failure
o 31 — (A r t. V I I I ., S e c. 1 2 .)— Abolishing Hoard of Public Works.—
of Accused to Testify in Criminal Cases.—'T ills a m e n d m e n t allow s pro visio n A bN
o lis h e s 'S tate B oa rd o f P u b lic W o rk s an d p ro v id e s fo r a p p o in tm e n t o f
to be m ade b y law fo r th e ta k in g o f the d e p o s itio n o f a n y w itness w hose
N unerln ten dcnt b y th e G o v e rn o r.
a tte n d a n ce c a n n o t lie had at the trial. I t also p ro v id e s th a t the failure
N o 32 — (A r t. X I I . . S ecs. 1, 2, 6. 7. 8. 0. 1 0 -A U .)— Taxation of State
o f th e a ccu sed to testify m ay be con sid ered b y the C ou rt an d Jury an d m ade
and Municipal Bonds. Inheritances, Incomes. Franchises and Production of
th e s u b je c t o f co m m e n t b y co u n s e l.
,
_
,.
,
Minerals — C on tinues presen t system o f u n iform rule In t a x a tio n , restores
N o. 4 .— (A rt. I. S ee 10.) -Suits Against the State.— P r o v id e s th a t suits
fu tu re Issues o f p u b lic b o n d s to ta x a tio n , th e passage o f law ta x in g in com es
m a y be b rou g h t again st the S ta te In such co u rts a n d in su ch m anner as
and Inheritances. A ls o allow s ex cise , fra n ch ise an d m in era l ta xes o n p r o
m a y be p r o v id e d b y law .
d u c tio n o f co a l, oil, gas a n d m inerals.
N o. 5 .— (A r t. I, S ee. 1 9 a .)— Damage for Wrongful Death.— P r o v id in g
N o 3 3 __ (A rt X I I I ., S e c. 2 .)— Regulation of Corporations and Sale of
th a t the a m ou n t o f d am ages r e co v e ra b le b y civ il a ctio n fo r d e a th cau sed b y
Personal Property.— P ro v id e s fo r the re gu la tio n o f c o r p o r a tio n s and Jointw ron gfu l a ct, n eglect o r d e fa u lt o f a n o th e r shall n o t lie lim ited b y law .
s to c k co m p a n ie s and fo r a co m m issio n t o regu late th e sale o f s to c k s and
N o . 0 .— (A rt. I I . S ecs. 1, la . l b , l c , Id , le , If, l g . ) — Initiative and Refer
endum.— R eserves to th e p e o p le th e p o w e r to p rop ose laws an d a m e n d ' >0NoS 3 4 __ (A rt. X I I I . . S e c. 3 .)— Double Liability of Bank Stockholders and
m en ts to the c o n s titu tio n and t o a d o p t o r r e je c t the sam e b y a re fe re n d u m
Inspection of Private Banks.— P ro v id e s th a t s to ck h o ld e rs o f co r p o r a tio n s
v ote
T h e signatures o f 10% o f th e e le cto rs are required to p r o p o s e a
a u th o rize d to re ce ive m o n e y on d e p o s it shall be held in d iv id u a lly responsi
con stitu tion a l am en d m e n t.
Law s w ill be tra n sm itte d t o the L egisla tu re,
ble eu u a llv and ra ta b lv . and n o t o n e fo r an o th e r, fo r all c o n tr a c ts , d ebt*
s u b je c t to the referen d u m , n o o n p e titio n o f 3 % o f the e le cto rs .
N o law
an d en gag em en ts o f such co r p o r a tio n s , t o the e x te n t o f the a m o u n t o f their
p r o p o s e d In tills m anner an d a p p ro v e d b y th e v o te rs shall b e s u b je c t
s to c k therein at th e par va lu e th e re o f. In a d d itio n to th e a m o u n t in vested
t o th e v e t o o f the G o v e rn o r.
A n y law o r s e ctio n th e r e o f passed b y
In such shares. N o co r p o r a tio n n o t organ ized u n d er th e law s o f O h io
th e L egislatu re a p p ro p ria tin g m o n e y m u st be s u b m itte d t o th e p e o p le
o r o f th e U s '., o r p erson , p artnership o r a ssocia tion shall use th e w ord
f su ch su bm ission Is p e titio n e d Tor b y (5% o f th e e le cto rs .
Laws p ro“ ban k ” “ b a n k e r " o r “ b a n k in g ," o r w ord s o f sim ilar m ean in g In a n y fo r v lld ln g fo r ta x levies, a p p ro p ria tio n s fo r th e (cu rre n t e xp en ses o f the
188
T H E C H R O N IC L E
eign language, as a d es ig n a tio n o r n a m e u n d er w h ich business m a y be c o n
d u c te d In this S ta te , unless such c o r p o r a tio n , p erson , partnership o r asso
c ia tio n shall s u b m it t o In sp e ctio n , e x a m in a tio n an d regu lation hereafter
p ro v id e d b y la w .
■
N o. ,15.— (A r t. X V ., S e e . 2 .) — Regulating State Printing.— P erm its the
S ta te to d o its o w n p rin tin g , o r let th e sam e b y c o n tr a c t, to the lo w e st
resp on sib le b id d e r , a n d p ro v id e s th a t all s ta tio n e ry and supplies be b o u g h t
as m a y b e p r o v id e d b y la w .
N o . 3 6 .— (A r t. X V ., S e c. 4 . ) — Eligibility of Women to Certain Offices.
P erm its the a p p o in tm e n t o f w o m e n to p osition s in th ose d ep a rtm e n ts an d
in s titu tio n s establish ed b y the S ta te o r a n y p o litica l s u b -d iv is io n in v o lv in g
the in terests an d ca re o f w o m e n an d ch ild re n .
N o . 3 7 .— (A r t. X V ., S e c . 1 0 .)— Civil Service.— E stab lish es c o m p u ls o ry
c iv il s e r v ic e in all the S ta te , c it y an d c o u n t y o ffice s .
N o . 3 8 .— (A r t. X V ., S e c . 1 1 .)— Outdoor Advertising.— G ives L egislatu re
rig h t t o regu la te use o f billb o a rd s.
N o . 3 9 .— -(A rt. X V I ., S ecs. 1, 2 & 3 . ) — Methods of Submitting Amend
ments to the Constitution.— M aking a m a jo r ity o f th ose v o t in g o n co n stitu
tio n a l am en d m en ts s u fficie n t to c a r r y sa m e . A ls o p r o v id e s th a t fu tu re co n
v e n tio n s shall be n o n -p a rtisa n .
N o . 4 0 .-— (A rt. X V I I I . , S ecs. 1 to 14, in c l.)— Municipal Home Rule.—
G ives m u n icip a lities a w ide m easure o f h o m e rule, p erm its m u n icip a l ow n
ership o f all p u b lic utilities, perm its each m u n ic ip a lity t o fra m e its ow n
ch a rter, gives the G eneral A s s e m b ly full c o n tr o l o v e r th e t a x -lim it an d
b o n d e d in d eb ted n ess o f m u n icip a litie s . T o tak e e lle c t, If a d o p te d , on
N o v e m b e r 15 1912.
N o. 4 1 .— Schedule of Amendments.— E x c e p t as oth e rw ise sp e cillca lly
p ro v id e d , the several am e n d m e n ts referred t o a b o v e shall take e lle c t J a n . 1
1913.
A ll cases p en d in g In the c o u r ts o n J a n . 1 1913 shall be heard and
tried in the sam e m a n n er an d b y th e sam e p ro ce d u re as is n o w a u th orized
b y la w .
Ohio.— State Senator Sentenced for B ribery. — On July 12
Stiite Senator Isaac E . Huffman of Oxford was ‘ entenced by
Judge Ilathmell in the Criminal Court to serve three years in
the penitentiary. Mr. Huffman w?s found guilty of acceptng a bribe of §200 to in uence his vote on the CetoneWhittemore insurance bill. Motion for a new trial was
overruled, but a stay of 20 days was granted pending an
application to file a petition in error in the Circuit Court.
Rochester, N . Y .— Appellate D ivision A ffirm s Louver Court.
Decision in West Side Seioer Bond Case. — On July 9 the Fourth
Department, Appellate Division, of the Supreme Court
affirmed the judgment of Supreme Court Justice Foote
rendered April 17 1911 dismissing the complaint of Carroll L.
Hook in the equity proceeding brought on behalf of himself
and other owners of W est Side sewer bonds against the
German-Amencan Bank, the Rochester City Hospital,
Samuel B . Williams, et al., to recover from them money
enough to make possible an equal distribution among all the
bondholders of the loss resulting from the non-payment of
part of the bonds. See V. 92, p. 112.7.
United States .—-Election o f Senator Lorim er o f Illinois
Declared Invalid.— By a vote of 55 to 28 the United States
Senate on July 13 adopted the resolution declaring that
corrupt methods and practices were employed in the election
of William Lorimer to the Senate of the United States from
the State of Illinois and that his election was therefore invalid.
Mr. Lorimer was elected to the United States Senate by the
Illinois Legislature on May 2G 1909. It was later charged
that certain members of the Legislature had been bribed to
vote for Mr. Lorimer and these charges were investigated
by a special Grand Jury, which voted indictments against
several legislators. Two of these were tried by juries and
acquitted, while the remaining cases were dismissed. The
first attempt to unseat Mr. Lorimer was made in March 1911,
but at that time a resolution declaring his election illegal
was rejected by the Senate by a vote of 4G to 40. Sub
sequently, on June 1 1911 (after there had been many
changes in the membership of the Senate the previous
March 4), the Senate adopted, by a vote of 48 to 20, the
Martin resolution providing for a new investigation of the
bribery charges by the Committee on Privileges and Elections,
this resolution having been substituted for the proposition
of Senator La Follette to create a special committee made up
entirely of new members. A sub-committee of eight Senators
was appointed by the Committee on Privileges and Elections
on June 5 1911 and this committee on March 28 1912 decided
by a vote of 5 to 3 to uphold Mr. Lorimer’s right to retain
his seat. Majority and minority reports were presented to
the Senate on May 20 1912. The majority report of 5 mem
bers of the committee completely exonerated Mr. Lorimer
and was quoted in part in the “ Chronicle” of May 25, page
14G0. The minority report signed by Senators Lea, Kern
and Kenyon declared that corrupt methods and practices
were employed in the election of Senator Lorimer and was
accompanied by a resolution to that effect, this being the
resolution which the Senate finally adopted on July 13.
In an opinion submitted July 17 State Attorney-General
Stead holds that as a result of the present action of the
U . S. Senate, the Legislature of 1909 failed to elect a Senator,
hence Governor Deneen of Illinois has no power to fill the
vacancy, the Federal Constitution providing that “ if vacan
cies happen by resignation or otherwise during the recess o f
the Legislature o f any State, the Executive thereof may make
temporary appointments until the next meeting of
the
Legislature, which shall then fill such vacancies.”
Bond Proposals and Negotiations this week
lave been aa follows:
ACCOMACK COUNTY (P. O. Accomack), V a .— Bond Offering.— P ro
posals w ill be received until 2 p . m . J u ly 25 b y J . I). G rant, Clerk o f B d . o f
S u p erv isors, fo r .$10,000 3 0 -y r . c o u p , ro a d ta x -fr e e b o n d s . A u th ., v o te
o f 226 to 166 at election held Ju n e 22.
D e n o m . $10 0.
D ate " a s so o n after
bid is a c c e p te d as B oa rd ca n h a ve sam e p r in t e d .”
I n t . (rate to be nam ed
In bid) sem i-an n .
O fficial circu la r states th a t th e c o u n t y has n ever d e
fa u lte d In the p a y m e n t o f a n y o b lig a tio n , an d th a t n o qu estion has ever
been raised affectin g o r c o n ce rn in g the v a lid ity o f b o n d s.
N o d e p o s it is
req u ired .
B on d ed d e b t a t present, $ 2 0 ,0 0 0 . A ssess, v a l., $ 6 ,6 2 2 ,1 6 9 .
■ AKRON, Summit County, Ohio.— Bonds Authorized.— A n o rd in a n ce was
passed J u ly 8 p r o v id in g fo r th e issu ance o f $90 ,230 4 % c o u p , stre e t-im p t
[VOL. LXXXXV.
(c it y ’s p o r tio n ) b o n d s .
D e n o m . (1) $230, (90) $ 1 ,0 0 0 . D a te J u ly 1 1912.
I n t. J . & J . at o ffic e o f C ity T re a s.
D u e J u ly 1 1918.
ANNAPOLIS, Md.— Bond Offering.— T h e F in a n ce C om m ission w ill oH c1*
a t p u b lic sale a t 12 m . A u g . 16 $10 0,00 0 4
3 0 -y e a r w a te r-lo a n bon d sc o n s titu tin g a first Hen u p o n th e A n n a p o lis W a te r C o ., the c a p ita l s to c k o c
w h ich is o w n e d b y th e c it y . A u t h . C h a p . 118, A c ts o f 1912. D e n o m .
$ 1 ,0 0 0 .
D a te A p r . I 1912.
I n t . s e m i-a n n . A d e p o s it o f 5 % o f b id is r e
qu ired on the d a y o f sa le. T h ese b o n d s w ere p r e v io u s ly o d e r e d on M ay 20
(V . 94, p . 113 1).
ANNE ARUNDEL COUNTY (P. O. A n n a p o lis ), Md.— Bond Sale.— On
July. 16 the 550 ,0 0 0 4 H>% 27 EJ-yr. (a v .) c o u p , ja il bon d s (V . 95, p 05)
w ere aw ard ed to H iggs & M cL a n e o f B a ltim ore at 101.446 and in t .— a b a sis
o f a b o u t 4 .4 2 % . O th er b ids fo llo w :
C. E . D enison & C o ., B o s t o n * l0 2 .0 1 7 I I I a m b I e t o n & C o ., B a lt
_
100 .03
N e lso n , C ook & C o ., B a lt ____ 100.896|
* B id n o t sign ed : r e je c te d .
ARCHBOLD, Fulton County, Ohio.— Bond Offering.— P r o p o sa ls w ill b e
re c e iv e d u n til A u g . 5, it is s t a t e d , fo r $18 ,000 4
S try k e r S tre e t p a v in g
b on d s.
D e n o m . $600.
D u e $1,800 y e a r ly .
A sh la n d B ank & S a v . C o .,
J D resden N a t. B a nk, D re s d -$ T ,6 3 6 50
A sh lan d -------------------------- $1,672 7 6 [I la y d e n , M iller & C o ., C lc v .$1,622 00
A S H L E Y , O h io .— Vote .— T h e resu lt o f th e e le ctio n held J u ly 9 w as as
fo llo w s , It is sta te d :
Amount.
Purpose.
Bonds Voted.
Vote "for." Vote “ against.”
$ 9 ,5 0 0 . .W e s t H igh S treet p a v in g __________________
Bonds Defeated.
121
39
4 ,0 0 0 . .S c h o o l _____________________
92 72
1 2 .0 0 0 . .E le c t r ic lig h t _____________________________
94
65
5,000 . .G r o v e S tre e t im p r o v e m e n t___________ ___
82
51
A tw o -th ird s m a jo rity w as requ ired to a u th o riz e .
A U G U S T A C O U N T Y (P . O. S ta u n to n ), V a .— Bonds Voted.— T h e e le ctio n
h e ld J u ly 2 in S ou th R iv e r .Magisterial D istrict resu lted In fa v o r o f th e p r o p o
s itio n to issue $25 0,00 0 ro a d b o n d s (V . 94, p . 157 9), a c c o r d in g to re p o r ts .
A V O N , L iv in g s to n C o u n ty , N. Y . —Bond Offering.— P ro p o sa ls w ill be
re ce iv e d until 8 p . m . J u ly 23 b y the B o a rd o f T ru stees, I’ . C. G leason, V il.
Clerk, fo r $10 ,000 r c g . sew a ge-d isposal and s e w e ra g e -e x t. ta x -fre e b o n d s a t
n o t e x ce e d in g 5 % interest.
D e n o m . $50 0.
In t. F . & A . a t o ffic e o f th e
V il. T reas. in N ew Y o r k e x ch a n g e . D u e $500 y e a rly on A u g . 1 fro m 1916
to 1935 ln cl. C ert, c h e ck fo r $300, p a y a b le to the V il. T r e a s ., r e q u ired .
O fficia l circu la r states that the village has n e v e r d e fa u lte d in the p a y m e n t
o f p rin cipa l o r in terest, and th at the le ga lity o f tills issue is n o t qu estion ed
in a n y m an n er. P u rch a ser to furnish b lan k b o n d s.
B A L T IM O R E , M d .— .Safe of City Stock.— B id s w ere re ce iv e d o n J u ly 15
fo r a b o u t $ 3 ,5 0 0 ,0 0 0 o f th e $ 5 ,0 0 0 ,0 0 0 4 % r e g . c it y sto ck (9 issues) offered
on th at d a y (V . 94, p . 1778). T h e offers ran ged from 94 to 1 00 .50. B ids at
96.006 an d b e tte r w ere a c c e p te d , the c it y a llo ttin g $ 2 ,9 5 9 ,0 0 0 s t o c k . T h e
rem ain der o f the loan ($ 2 ,041,000) w as sold at p riv a te sale on J u ly 16 and 17.
T lie fo llo w in g ta b le , sh o w in g th e prices realized for each Issue o f s to c k
o fle r e d , has b e e n prepared b y M a ck u b in , G oo d rich & C o ., B a nkers, o f
B a ltim o re :
Amount.
Purpose.
______
Due. Aver. Price. Yield.
$ 4 0 0,00 0 .A n n e x im p ro v e m e n t____ _____________1051
1951
96,8276
4.100
6 0 0 .0 0 0 - - P a v i n g _______________
1951
96.5859
4.178
170 .0 0 0 - -C o n d u it______________
.1958
1958
96.4774
4.173
6 0 0 .0 0 0 - - W a t e r ____
1958
96.4841
4.173
12 0 .0 0 0 . ..B u r n t -d is t r ic t -im p r o v e m e n t_________1960
1960
96.9102
4 .1 5
2 .0 0 0 .
0 0 0 . .S e w e r a g e ___________
1961
90.3 7 7 5
4.174
2 0 0 .0 0 0 . -J o n e s Falls im p r o v e m e n t ___________ 1961
96.33
4.1 7 7
3 1 0 .0 0 0 . .5 .h o o l- h o u s e ________
1961
96.2003
4.183
6 0 0 .0 0 0 - - D o ck im p r o v e m e n t_________________ 1961
4.17
96.46
T h e a b o v e p rices, it w ill be n o te d , are all h igher th an those re ce iv e d b y
N ew Y o r k C ity at Its last sale, o n M ay 7, w h en $ 6 5 ,000 ,00 0 4 j f s w ere sold
o n a basis o f a b o u t 4 .2 1 % .
B E D M IN S T E R T O W N S H IP SC H O O L D IS T R IC T (P . O . P o t t e r s v ille ).
Som erset C o u n ty , N. J . —Bond Offering.— P ro p o sa ls will be re ce iv e d until
3 p . m . J u ly 20 b y J . F . B artles, D is tr ic t C lerk , fo r 56,500 4 'A% c o u p , ta x free b o n d s. D e n o m . $50 0.
D ate J u y 1 1912.
In t. J . & J . a t S e c o n d
N a t. B a n k , S o m e rv ille .
D ue $500 y e a rly on J u ly 1 from 1913 to 1925,
in cl. N o d e p o s it is re q u ire d .
B o n d e d d e b t, in cl. this issue, $ 11,500. N o
flo a tin g d e b t . A sse ss, v a l. 1912 (e s t.), $ 1 ,0 0 0 ,0 0 0 .
B E N D , C R O O K C O U N T Y , O re .— Bond Election.— A n ele ctio n is to be
b elli here t o -d a y (Ju ly 2 0 ), re p o rts sta te, t o v o t e on the p r o p o s itio n to issue
$65 ,000 sew er co n s tr u c tio n b o n d s.
B E T H E L SC H O O L D I S I R I C I , O h io .— Bids.— O th er bids re ce iv e d o n
J u ly 8 fo r the $30 ,000 4 % % 10-39-year (ser.) b on d s aw arded to I lo e h lc r
& C u m m in gs o f T o le d o at 106.291 and int. ( V . 95, p . 126), w ere as fo llo w s :
M a y e r, D e p p e & W a lte r,
First N a t. B a n k , C i e v o - -$ 3 1 ,1 5 8 90
C in cin n ati -------------------- $31 ,804 75 P r o v id e n t S a v . B ank &
B reed & H arrison , C in c _ - 31,728 00
T ru s t C o ., C in c in n a t i-- 31,023 00
S e a s o n g o o d & M ayer, C in . 31,522 00 N ew F irs t N a t. B a n k, C o l- 30,918 00
O tis & H o u g h , C le v e la n d - 31,500 00 S ta c y & B rau n , T o l e d o . . 30,776 30
W e ll, R o th & C o ., C in e___ 31,500 00 C . F . C hilds & C o ., C h i c . . 3 0 ,4 9 5 00
.
BEVERLY.
N. J.—Bonds Not Sold.— N o b ids w ere re ce iv e d fo r the $4 0 ,
000 4 > £ % str e e t-lm p t. b o n d s offe re d o n J u ly 11.
B R O O K H A V E N U N IO N F R E E SC H O O L D IS T R IC T NO. 5 (P . O. R on k o n k o m a ), N. Y . —Bond Sale.— O n J u ly 8 $10,000 5 % 1-10-year (ser.)
b on d s d a ted J a n . 1 1913 w ere aw ard ed to D ou gla s F e n w ick & C o. o f N ew
Y o r k a t 100.25.
D e n o m . $ 1 ,0 0 0 . I n t . a n n u al.
B R U N S W IC K . Frederick C o u n ty , M d .— Bond Election.— A c c o r d in g to
re p o rts, an e le ctio n w ill b e held A u gu st 5 to s u b m it t o the v o te r s a p r o
p o s itio n to issue $20 ,000 ele ctric-lig h t -p la n t b o n d s.
B U T T E C O U N T Y (P . O. B e lle fo u rc h e ). So. D a k .— Bond Election.— A n
e le ctio n to v o t e on the qu estion o f Issuing r e fu n d in g b on d s w ill be field In
N o v e m b e r , it is s ta te d .
CANISTEO. Steuben County. N. Y. -Bond Election.— A n e le ctio n will b e
held A u g . 9, It is s ta te d , to v o t e o n the q u e stio n o f Issuing $40 ,000 sch ool
b o n d s.
C A R R SCHOOL D IS T R IC T , C o lo .— Description of Bonds.— T h e $6,000
6 % 15 -3 0 -yea r ( o p t .) bon d s aw ard ed to C ausey, F o ste r & C o . o f D e n v er at
p ar on M arch 30 (V . 95, p . 65) are In the d e n o m . o f $1,000 each and d ated
M a y 1 1912. I n t. se m i-an n u al.
C A R T H A G E SC H O O L D IS T R IC T (P . O . C a rth a g e ), lHo.— Dond Sale.—
W e are a dvised th at the $10 ,000 4 % b ld g , an d rep a ir b o n d s v o t e d Ju n e 18
(V . 94, p . 1778) h a v e been so ld to loca l in v e sto rs.
C A S C A D E C O U N T Y SC H O O L D IS T R IC T NO. 6 4 , M o n t — Bond Sale.—
O n J u ly 6 the $1,500 5-10-yr. (o p t.) c o u p , b o n d s (V . 94, p . 1778) w ere
a w a rd e d to the S ta te B oa rd o f L a n d C om m ission ers o n a 5 j.f % basis. I n t .
J . & J . N o o th er b ids w ere re c e iv e d .
C A S P E R SC H O O L D IS T R IC T , N atron a C o u n ty , W y o — Bonds Voted.—
A n e lection held re c e n tly resu lted , re p o rts s ta te , in fa v o r o f the qu estion o f
Issuing $50 ,000 b u ild in g b o n d s.
C E R E S H IG H SC H O O L D IS T R IC T . S ta n isla u s C o u n ty , C a l.— Bond Sale.
■N. W . H alsey & C o. o f San F ran , w as a w a rd e d o n J u ly 9 ttic $ 35 ,000 5 %
5 -2 3 -y r. b ld g , b o n d s o fle re d J u ly 1 (V . 94, p . 1579) fo r $35,704 20, m aking
the p rice 102.01. O th er bids fo llo w :
E . H . R ollin s & S on s, S a n F ,$ 3 5 ,3 9 5 | W m . R . S ta a ts & C o ., S an F . $35,203
D a te J u ly 9 1912. .In t. J . & J.
C H A N D L E R S V IL L E SC H O O L D IS T R IC T (P . O. C h a n d le rs v ille ). M us
k in g u m C o u n ty . O h io .— Bond Offering.— P roposals w ill be re ce iv e d u ntl
J u ly 25 fo r $1,000 4 % 10-yr. b ld g , repair b o n d s. A u th . v o te o f 34 to 22
at e le ctio n held J u ly 6.
C H A R L O T T E . M e ck le n b u rg C o u n ty , N o. C a ro .— Bond Sale.— T h o
American T ru st C o ., it is stated, has been awarded tho $50 ,000 4 EJ% 30-y r .
water-works bonds (V . 94, p . 1461) and also an issue of $ 1 5 0,00 0 street
p a v in g bonds.
CHATTANOOGA. Tenn.— Bond Sale.— O n J u ly 15 $5,509 32 6 % p a v
ing b on d s w ere aw ard ed to S e a so n g o o d & M ayer o f Cine, fo r $5,596 32
(101.57) and in t. D ue part y e a rly fro m 1 to 4 years.
CHEYENNE. Okla.— Vote .— W e are a d v ise d th a t th e v o t e c a s t a t tho
e lection held Jun e 27, w h ich a u th o rize d the issu ance o f $60 ,000 6 % 2 5 -y r .
w a ter-w ork s bon d s, w as 81 " f o r ” an d 1 " a g a in s t .”
C H IC A G O , III.— Bonds Proposed.— T h e C ity C o m p tro lle r has d ra fted an
o r d in a n ce fo r the Issue o f $1,7 5 0 ,0 0 0 p u b lic -lm p r o v e m o n t b o n d s to c o v e r
THE CHRONICLE
J uly 20 1912 ]
th e c it y ’s p r o p o r tio n o f th e c o s t o f w id e n in g 12tli S treet. T h is w ill c o m e
b e fo r e th e C ou n cil, it is e x p e c te d , o n J u ly 22, a n d w ill b e p resen ted t o
th e v oters fo r tliclr a p p ro v a l in the fall e le ctio n .
C IN C IN N A T I, O h io .— Bonds Authorized.— O rd in a n ces w ere passed J u ly 5
p rov id in g fo r th e Issuance o f th e fo llo w in g 4 % b o n d s:
$12 ,500 c o u p , s tr cc t-lm p t. b o n d s.
D ate A u g . 1 1912. I n t . F . & A .
Due
10.000 c o u p . V a s t 2S lx th A v e . co n d e m n a tio n b o n d s .
D a te J u ly 15 1912.
189
ESSEX COUNTY (P. O. Newark), N. J.—Bond Sale.— On May 1 $ 1 5 0 ,
000 4 % 2 0 -y r . b rid ge b o n d s w ere a w a rd e d t o th e S in kin g L u n d C om m is
sion ers a t p a r, w e are a d v ise d b y th e C o u n ty A u d ito r . D a te M a y 1 1912.
In t. M . & N.
EVANSTON SCHOOL DISTRICT, III— Bonds V oted.— A n e le ctio n h eld
J u ly 13 resu lted in fa v o r , a c c o r d in g t o re p o r ts , o f th e p r o p o s itio n t o Issue
$ 40 ,000 s c h o o l b o n d s .
ELATHEAD COUNTY SCHOOL DISTRICT NO. 9, M on t— Bond Bale.—
On J u ly 6 $ 1,400 6 % b ld g , b o n d s w ere a w a rd e d t o th e S ta te B o a rd o f L a n d
I n t . C om m ission ers a t p a r . D e n o m . $50 . N o o th e r b id s w e re r e c e iv e d .
EOREST, Hardin County, Ohio.—Bond Offering.— P ro p o sa ls w ill be re
c e iv e d u n til 12 m . A u g . 12 b y R . R . E d w a rd s, VII. C lerk, fo r th e fo llo w in g
5 % c o u p , assessm ent b o n d s:
C O L l E o n H I L L . P a .— Bond Ottering.— P ro p o sa ls w ill b e re c e iv e d u n til
$ 6 ,9 5 5 P a te rso n S t. lm p t. b o n d s. D e n o m . $695 5 0 . D u e $695 50 y ea rly
A u g 1 b y F r e d . T a g g a r t, B o ro u g h S e cre ta ry , it is sta te d , fo r $1 5 ,5 0 0 4
o n A p ril 1 fro m 1913 t o 1922 ln cl.
b o n d s.
I n t. sem i-an n u al. C ert, c h e c k fo r $100 re q u ir e d .
10,360 L im a S t . lm p t. b o n d s.
D e n o m . (20) $400, (10) $ 2 3 6 . D u e $1,036
C ( ) I L E G E V I E W , L a n caster C o u n ty , N eb.— Bond Sale.— O n J u ly 10
y e a r ly o n A p ril 1 fro m 1913 t o 1922 ln cl.
th e $25 ,000 5 % 5 -2 0 -y r. (o p t .) w a te r-w o rk s b o n d s (V . 95, p . 00) w ere
A u th . S e c . 3914, G en. C o d e . D a te A u g . 1 1912. I n t . s e m l-a n n . a t o f
aw arded t o VV. E . B a rk le y o f L in c o ln a t 1 0 1 .3 2 , in t. an d b la n k b o n d s.
fic e o f VU. T rca s . C ert, ch e ck fo r 5 % o f b o n d s b id fo r , p a y a b le t o th e V il.
O th er bids fo llo w :
T r e a s ., r e q u ire d . B o n d s to be d e liv e re d w ith in 10 d a y s fr o m tim e o f a w a rd .
S . A . K ea n & C o ., C h lo a g o ,- -$ 2 5 ,0 2 5 |H. C. S p eer & S on s C o ., C h lc .$ 2 4 ,5 0 0
P u rch a se r to p a y a c c r u e d in terest.
S p ltz e r, R o r io k & C o ., T o le d o 2 4 ,5 3 0 1
FORT SCOTT SCHOOL DISTRICT (P. O. Fort Scott), Kan.— B o n d Elec
C O L U M B U S . O h io .— Bonds Purchased by Sinkino Fund DuringQuarter tion .— A n e le ctio n w ill b e h e ld A u g . 3 t o s u b m it t o th e v o te r s th e p r o p o s i
Ending June 30 191 2.— T h e fo llo w in g b o n d s, a ggre ga tin g $ 3 3 8 ,5 0 0 , w ere t io n t o Issue $8 0 ,0 0 0 4 ]A% s c h o o l-b ld g , b o n d s.
p u rch a sed b y th e S in kin g F u n d a t p a r an d in t. d u rin g th e q u a rte r e n din g
FORT WORTH, Texas.— Bond Election.— A n e le ctio n w ill be h e ld J u ly 27,
Jun e 30 1912:
„
it Is sta te d , t o v o t e o n th e p r o p o s itio n t o Issue $ 10 0,00 0 h osp ita l b o n d s .
Amount. Int.
Purpose—
Date.
Due.
FOSTORIA, Seneca County. Ohio.—Bond Sale.— T h e fo llo w in g b id s w ere
5 5.000
4
S ew er r e p a i r ________ ■-----------------M c h . 23 1912 S e p t. 1 1932
re c e iv e d o n J u ly 16 fo r th e $8,604 4 *4% s tr e e t-im p t. b o n d s ( V : 95, p . 66 ):
10.000
4
S treet r e p a i r -------------------------------- M ch . 23 1912 § e p t . 1 1932
W e ll, R o t h & C o ., C i n c i n ..$ 8 ,7 3 4 00 S e a s o n e o o d & M a yer, C ln . .$ 8 ,7 0 $ 00
5.0 0 0
4
V ia d u ct an d brid g e r e p a ir ----------M c h . 23 1912 S e p t. 1 1932
P r o v . S . B . & T r . C o ., C in . 8,721 02 S ta c y & B rau n , T o l e d o ------- 8 ,7 0 6 25
4 000
4
P a rk
J a n . 1 1912 'S e p t . 1 1930
I la y d e n , M iller & C o .,C lc v . 8,7 1 6 00 F irst N a t. B a n k , F o s t o r ia - 8 ,6 9 0 00
10.000
4
M ea t in s p e c tio n ---------------------------- M ch . 23 1912 S e p t. 1 1914
N e w F irst N a t. B k „ C o lu m . 8 ,7 1 0 00
3 5 .0 0 0
4
W a te r m ain -------------------------------10.000
4
FRANKLIN COUNTY (P. O. Columbus), Ohio.— Bond Sale.— O n J u ly 15
th e tw o issues o f 4 A % b o n d s, agg re g a tin g $1 6 ,4 0 0 ( V . 94, p . 1779) w ere
10.000
4
3.0 0 0
4
____
a w a rd e d t o th e P r o v id e n t S a v . B a n k & T r u s t C o . o f Cine, f o r $ 1 6 ,6 5 5 78
15.000
4
(C ity ’s p o rtio n ) I m p r o v e m e n t.- ------ --- - - - , , 0n
(101.559) an d Int. O th er b id s fo llo w :
5.0 0 0
4
M ilo s e w e r ------------------------------------ Jun e 30 1911 S e p t. 1 1931
N e w F irst N a t. B k ., C o l._ $ 1 6 ,6 3 9 0 0 1B reed & H arrison , C i n e . . $ 1 6 ,5 8 5 10
10 000
4
C . P . P u b . lig h ts _________________ Jun e 30 1911 S e p t. 1 1921
S e a so n g o o d & M ayer. C ln . 16,600 7 5 | H a y d c n , M iller & C o ., C le v .1 6 ,5 6 7 00
10.000
4
E le c tr ic -lig h t _____ ___ ______ - - A p r il 17 1911 S e p t. 1 1941
GALLUP, McKinley County, New Mex.— Bond Ottering.— F u rth er d e
------------------20 0 ,5 0 0 4& 4 H A s s e s s m e n t ---------------- -------------- ------------------tails are a t h a n d re la tiv e t o th e o ffe rin g o n A u g . 6 o f th e $ 6 4 ,0 0 0 5 % g o ld
c
o
u
p , w a te r an d sew er b o n d s (V . 9 5 , p . 66) .
P ro p o s a ls fo r th ese b o n d s will
* O p tion a l a fter on e y e a r .
,
Bonds Authorized.— O rd in a n ces w ere passed o n J u ly 8 p r o v id in g fo r b e re c e iv e d u n til 2 p . m . o n th a t d a y b y P . J . D u g a n , T o w n C le rk . A u th .
D e n o m . $ 1 ,0 0 0 . D a te A u g . 6
th e Issuance o f th e fo llo w in g c o u p o n b o n d s:
.
, , „ v o t e o f 111 t o 5 a t e le ctio n h e ld A p r . 2 .
1912.
I n t . J . & J . a t th e N a tio n a l B a n k o f C o m m e rce , N . Y . C it y .
D ue
$500 4 j ii % W all S t. sew er assess, b o n d s . D u e S e p t. 1 1918, s u b je c t
A u g . 6 1962, o p t . a fte r A u g . 1 1932. C ert, c h e c k fo r 1 % o f b o n d s b id fo r
t o call S e p t. 1 1913.
re
q
u
ire
d
.
0 ,000 4 % T erra ce A v e . grad in g assess, b o n d s .
D e n o m . $ 1 ,0 0 0 . D ue
GALT JOINT UNION HIGH SCHOOL DISTRICT, Sacramento County.
S e p t. 1 1923, s u b je c t to call S e p t. 1 1913.
13,000 4 % C levelan d A v e . lm p t. assess, b o n d s .
D e n o m . $ 1 ,0 0 0 . D ue C a l.— Price Paid for Bonds.— A s sta te d in V . 9 5 , p . 128, th e B o a rd o f Su
pe rv iso rs o n J u ly 2 a c c e p te d th e bid o f $57 ,482 45 (114.964) s u b m itte d b y
S e p t. 1 1923.
_
5.000 4 % P a rk w o o d A v e . lm p t. assess, b o n d s .
D e n o m . $ 1 ,0 0 0 . D u e th e S ta te B o a rd o f C o n tro l fo r th e $5 0 ,0 0 0 6 % b o n d s o ffered o n t h a t d a y .
T h e S ta te B o a rd , It is r e p o r te d , has n o w a d v is e d th e S u p erv isors th a t its
S e p t. 1 1923, s u b je c t to call S e p t. 1 1913.
b id o f $57,482 45 w as th rou gh In ad verten ce, w h ereas, it s h o u ld h a v e read
7 .000 4 % ga rb a g e a n d refu se d isposal b o n d s . D e n o m . $ 1 ,0 0 0 . D u o
$5 4 ,6 0 6 10. It Is said th a t th e S u p erv isors h a v e a greed t o sell th e b on d s
S e p t. 1 1922.
,
a t th e la tte r figu re. T h e o n ly o th e r b id re c e iv e d o n J u ly 2 w as o n e o f
D ate n o t la ter than D eo. 31 1912. I n t . M . & S . a t o ffic e o f C ity T r c a s .
$52,701 from J . I I . A d a m s & C o . o f L o s A n g e le s .
A n o rd in a n ce w as also passed J u ly 10 p r o v id in g fo r th e issu ance o f $6,000
4% c o u p . T erra ce A v e . assess, b o n d s. D e n o m . $ 1 ,0 0 0 . D ate n o t later
GATES (TOWN) SCHOOL DISTRICT NO. 6, N. Y .— Bond Sale.— O n
th a n D eo. 31 1912.
In t. M . & S . a t o ffic e o f C ity T rca s .
D u e S e p t. 1 1923,
J u ly 15 $ 16 ,600 5 % 1 -2 0 -y r. b o n d s w ere disp o se d o f, w e are a d v is e d .
s u b je c t to ca ll S e p t. 1 1913.
GLOVERSV1LLE, Fulton County, N. Y .— N o Action Yet Taken.— Up to
COON R A P I D S , C arroll C o u n ty , I o w a .— Bond Election Proposed.— 'Tills
J u ly 12 n o a c tio n h a d b een tak en lo o k in g to w a rd s th e Issuance o f the
c it y , It Is s ta te d , w ill h o ld an e le ctio n t o v o t e o n th e Issuance o f w a tcr-m a ln $2 0 ,0 0 0 brid g e bo n d s v o t e d M a y 10 ( V . 94, p . 1 5 2 2 ).
ex te n s lo n b o n d s.
G R A N D JUNCTION, Colo.— Bond Sale.— W m . E . S w e e t & C o . o f D en v er
C O R A O P O L IS , A lle g h e n y C o u n ty . Pa.— Bond Sale — O n Ju n e 25 the
h a v e been aw arded $12 5,00 0 sew er b o n d s a t 9 9 .5 0 . T h e sa le, It Is s ta te d ,
$15 000 4 'A % c o u p , ta x -fr e e s c h o o l b o n d s (V . 91, p . 1716) w ere a w a id e d
is s u b je c t t o th e ra tifica tio n o f th e v o t e r s .
t o J . S . & W . S . K u h n I n c ., o f P ittsbu rgh fo r $15,266 (101.77) an d Int.
GRAVETTE, B en ton C o u n ty , Ark.— Price Paid for Bonds.— T h e p rice
C O R O N A D O SC H O OL D IS T R IC T (P . O . C o r o n a d o ), San D ie go C o u n ty ,
p a id fo r the $21,000 (n o t $30 ,0 0 0 , as re p o rte d in V . 94. p . 1717) 6 % 5 -1 5 -y r .
Cal — Bonds Voted.— T h e e le ctio n held J un e 25 resu lted in fa v o r o f th e p r o p o
(o p t .) b o n d s aw arded t o W . A . B u she o f B e n to n v ille w as 9 5 .
D enom .
s itio n to Issue $80 ,000 5 % 2 0 -yea r b ld g , bo n d s (V . 04, p . 1 6 4 1 ). T h e v o te
$ 50 0. D a te J u ly 1 1912.
w as 337 t o 7 0 . B on d s w ill be s o ld , w e are in fo r m e d , as s o o n as p o ssib le .
GREENBURGH, N. Y.— Bond Ottering.— P ro p o sa ls w ill b e r e c e iv e d , it is
C O U P E V I L L E SC H O O L D IS T R IC T (P . O . C o u p e v ille ), Isla n d C o u n ty ,
s ta te d , until 3 p . m . J u ly 29, b y C. D . M illard, S u p e rv iso r (P . O . T a r r y t o w n ).
W a s h .— Bonds Voted— Hop o r ts sta te th a t an e le ctio n held r e c e n tly resulted
fo r $27,000 5 -1 9 -y r. (serial) w ater b o n d s a t n o t e x c e e d in g 5 % Int. P a y a b le
In fa v o r o f th e p r o p o s itio n to issue $9,000 h ig h -s ch o o l-b ld g , b o n d s .
se m i-a n n u a lly . C ert, c h e c k fo r $675 req u ired .
C O W E T A C O U N T Y ((P . O . N cw n a n ), Ga — Bond Election.— R e p o rts
GREENBURGH UNION FREE SCHOOL DISTRICT NO. 2 (P. O.
sta te th a t an e lection has been ord e re d fo r A u g . 21 t o su b m it to th e v o te r s
Irvington), Westchester County, N. Y — Bond Sale.— On J u ly 15_thc $12 the p r o p o s itio n t o issue $ 30 0,00 0 4 % 3 0 -y r . r o a d b o n d s.
000 4 A % 3 -1 4 -y r . (ser.) c o u p , (w ith p r iv . o f reg.) b o n d s ( V . 95, p . 128)
w e re aw arded to J o h n J . I la r t o f A lb a n y at 100.81 and int. O th er bids
C R O C K E T T SC H O O L D IS T R IC T , III.— Bond Election— A n e le c t io n w as
held here J u ly 8 t o v o t e o n th e p ro p o s itio n to Issue $1,500 b ld g , bo n d s
L o b d e ll & C o _________________ 100.725 R . M . G rant & C o ., N . Y ------- 100.61
M oline pap ers r e p ort, h o w e v e r, th a t th e v o te r s d id n o t o b s e rv e th e election
F a rson , S o n & C o ., N . Y ____ 100.687 H arris, F orb es & C o ., N . Y . . 100.419
law s a n d a s e c o n d e le ctio n w ill h a v e t o be c a lle d .
D ou gla s F en w ick & C o ., N . Y . 100.658 G e o . M . H a h n , N . Y -------------100.21
C R O O K S V I L L E , Perry C o u n ty , O h io .— Bond Sale.— O n J u ly 15 the
E
s ta b ro o k & C o., N . Y ---------100.64
$ 2 ,150 5 % 1 -1 0 -y r. (ser.) c o u p . N o . B u ck e y e S t. assess, b o n d s (V . 94, p .
GREENVILLE, Mercer County, Pa.— Bonds Voted.— T h e e le ctio n held
1716) w ere a w a rd ed t o the D resden N a t. B a n k o f D resd en fo r $2,207 50
J u ly 13 Is said to h a v e resulted In fa v o r o f a p r o p o s itio n t o Issue $ 100,000
(102.07) a n d Int. O th er b ids fo llo w :
H a yd en , M iller & C o ., C lc v - -_ $ 2 ,1 8 3 I N c w F irst N a t. B a n k , C o lu m .$ 2 ,1 5 2
p u b lic -im p r o v e m e n t b o n d s.
C rook sville B a n k C o ., C r o o k s . 2,156|
O R E S H A M , M u ltn om a h C o u n ty , O re.— Bond Sale.— O n J u ly 6 th e $ 5 ,0 0 0
6 % 20- y r . c o u p , w a te r-s y s te m -e x t. b o n d s (V . 94, p . 1780) w ere a w a rd e d t o
C R Y S T A L P A L L S SC H O O L D IS T R IC T , Iron C o u n ty , M ich .— N o Action
Yet Taken.— N o a c tio n has y e t been taken lo o k in g tow a rd s th e Issuance o f M orris B r o s , o f P o rtla n d a t p a r . D e n o m . $ 50 0. D ate J u ly 1 191 2. I n t .
the $90 ,000 sch ool b o n d s re ce n tly au th o rize d (V . 94, p . 132 1).
J . & J.
GUERNSEY COUNTY (P. O. Cambridge), Ohio.— Bond Sale.— O n JulyC U E R O IN D E P E N D E N T SC H O O L D IS T R IC T (P . O . C u e r o ), D c W itt
11 the $ 5 ,000 5 % 2 -6 -y e a r (ser.) b o n d s ( V . 94, p . 1780) w ere aw a rd ed t o
C o u n ty , T e x .— Bonds Registered.— O n J u ly 9 the $3.>,000 o /a 2 0 -4 0 -y tS e a so n g o o d & M ayer o f C in cin n ati a t 103.085 an d Int. O th e r b id s fo llo w :
(o p t .) b ld g , b on d s v o t e d A p r . 16 ( V . 94, p . 1265) w ere registered b y the
B re e d & H arrison , C in ____ $5,153 SO JW eil, R o t h & C o ., C in _____$ 5 ,0 9 5 00
S ta te C om p troller.
F irst N a t. B a n k . C le v e ____ 5,137 8 0 1
C U M B E R L A N D C O U N T Y (P . O . B r id g e to n ), N. J .— Bond Ottering —
HAMBLEN COUNTY (P . O. .M o rristo w n ), Tenn.— Bond Sale.— T h e
P roposals w ill b e r e ce iv e d u n til 11 a . m . J u ly 30 b y E . P . B a co n , C o u n ty
T e n n . In d e m n ity C o . o f K n o x v ille w as a w a rd e d a t 10 3 .2 0 , it Is s ta te d ,
C ollector, fo r $10 ,000 4 'A % 10-yr. a r m o r y b o n d s , a cc o r d in g to re p o rts.
In terest s em l-a n n . C ert, ch e ck fo r 5 % req u ired .
$2 5 ,0 0 0 ro a d b o n d s.
C U Y A H O G A C O U N T Y (P . O . C le v e la n d ), O h io .— B o n d Ottering.— In
HAMILTON SCHOOL DISTRICT (P .O . Hamilton), Butler County, Ohio.
— N o Action Yet Taken.— N o a c tio n has y e t been ta k e n , w e arc a d v is e d
a d d ition to th e $52 ,500 4
c o tip . bon d s (V . 95, p . 127) to be offe re d at
11 a . m . A u g . 14, p roposals will also be r e ce iv e d a t the sam e tim e a n d place
u n d e r d a te o f J u ly 13, lo o k in g to w a rd s th e Issuance o f th e $ 3 0 0 ,0 0 0 b o n d s
b v J F . G old en b og e n , Clerk B d . o f Su p ervisors, fo r $63 ,000 4 .tf % c o u p .
v o t e d M ay 21 ( V . 9 4 , p . 1 5 2 2 ).
State R o a d N o . 7 b o n d s. A u tli., C h ap. 18, D lv . 2, T itle 3, P a rt 1, G en.
HARDIN COUNTY (P. O. Kenton). Ohio.— Bond Sale.— O n J u ly 11 th e
C od e
D e n o m . $ 1 ,0 0 0 . D ate A u g . 1 1912. I n t. A . & O . a t o ffic e o f C o.
$23 5 ,0 0 0 4 % 1 -10-year (ser.) co u r t-h o u s e -c o n s tr u c tio n b o n d s ( V . 94, p .
T rca s
D u e SI 000 each six m on th s fro m A p ril 1 1914 to O c t . 1 1915 ln cl.,
1780) w ere a w ard ed t o S ta c y & B rau n o f T o le d o fo r $ 2 3 5,31 9 10 (1 0 0 .1 3 5 ),
52 000 on A p ril 1 and O c t . 1 1016 a n d $ 5 ,000 each s ix m o n th s fro m A p ril 1 in te re st an d bla n k b o n d s . O th er b ids fo llo w :
’l')17 to A p ril 1 1922 ln cl. C ert, ch e ck o n a ban k o th e r th an th e o n e m aking
N e w F irst N a t. B a n k , C o l. .$ 2 3 5 ,4 5 0 1P r o v . S . B . & T r . C o ., C i n . $ 23 5,37 8
bid fo r 1 % o f bon d s b id fo r, p a y a b le t o the C o u n ty T r c a s ., r e q u ire d . B on d s
W e ll, R o th & C o ., C ln _____ 235 ,399 [O tis & C o ., C le v e la n d --------- 23 4 ,0 0 0
to b o d eliv ered w ithin 10 d a y s fro m tim e o f a w a rd . P u rch a ser to p a y
It w as stated In o n e o f the new spapers last w eek th a t th ese b o n d s h a d
accru ed Interest.
been a w a rd ed to th e T illo ts o n & W o lc o t t C o . o f C le v e la n d .
O n J u ly 9 $8,000 b rid ge b o n d s w ere a w a rd e d t o th e K e n t o n S a v in gs
D A V E N P O R T SC H O O L D IS T R IC T (P . O . D a v e n p o r t), S c o tt C o u n ty ,
B a n k a t 101.125, It Is sta te d .
I o w a .— Bond Election.— N ew spaper reports state th a t a n e le ctio n will be
held J u ly 23 t o v o te o n th e p r o p o s itio n to Issue $ 40 ,000 m an u a l-tra in in g
HARRISON COUNTY (P. O. B e th a n y ), Mo.— Bonds Defeated.— A n elec
s ch o o l b ld g , b o n d s .
•
tio n h e ld J u ly 9 resu lted In th e d e fe a t o f th e p r o p o s itio n t o Issue $ 10 0,00 0
c o u r t-h o u s e b o n d s. T h e v o t e w as 1,142 t o 2 ,7 4 8 , a c c o r d in g t o n ew sp a p er
D E N N ISO N , T u sc a r a w a s C o u n ty , O h io .— Bond ’ Ottering.— P rop osals w ill
b o received b y the Sinking F u n d T ru stees, W . W . R itte r, V Ice -P re s.. fo r
r e p o r ts .
$13,000 a n d $ 4,000 4 14% 1-10-yr. p a v in g ta x -fre e b o n d s.
D e n o m . $500,
HART Mich.— Price Paid for Bonds.— T h e p rice p a id fo r th e $ 12 ,000
$800, $40 0. D ate J u ly 1 1912. I n t. J. & J. at th e D en n ison N a t . B a n k .
5 % p a v in g bon d s aw arded to th e F irst N a t. B a n k o f H art In J u n e (V . 9 5 , p .
N o d ep osit Is req u ired .
128) w as par.
D e n o m . $ 1 ,0 0 0 .
D ate N o v . 1 1912. I n t . a n n . In N o v .
D u e p a rt yea rly a fte r 1917.
E A S T C L E V E L A N D . C u y a h o g a C o u n ty . O h io .— Bond ottering.— P r o
posals w ill b e receiv e d until 12 m . A u g . 13 b y K . r . L c c t, C ity A u d ., fo r
HAWTHORNE, Passaic County, N. J .— Bonds Defeated.— A n election
$13,800 4 % sew er an d street lm p t. (c it y ’s portion ) b o n d s. A u th ., S e c .
h e ld here J u ly 16 resu lted In th e d e fe a t o f th e p r o p o s itio n t o Issue $20 ,000
3939, 3922, 3923 an d 3924, G en. C od e. D e n o m . (27) $50 0. (1) $30 0.
s t r c e t -lm p t . b o n d s a c c o r d in g t o re p o r ts .
D ate M ay 1 1912. I n t. M . & N . a t S up erior S avin gs & T ru st C o ., C leve
HEBFR SPRINGS SCHOOL DISTRICT, Cleburne County, Ark.— B on d
la n d .
Due M ay 1 1922. C ert, ch e ck fo r 10% o f b o n d s b id fo r , p a y a b le
S a le __ R J . E d w a rd s o f O k la . C ity w as a w ard ed a t p ar th e $2 0 ,0 0 0 5 %
to th e C ltv T r c a s ., re q u ire d . B o n d s to b e d e liv ered w ith in 10 d a y s fro m
b ld g ’ b o n d s (V . 93, p . 1 7 3 8 ). D e n o m . $ 1 ,0 0 0 . D a te M a y 15 1912.
tim e o f a w a rd . P u rchaser to p a y accru e d Interest.
I n t . J . & J . D u e J u ly 5 1912.
E A S T L IV E R P O O L , O h io .— Bonds Defeated— A n e le ctio n h e ld J u ly 16
HELENA SCHOOL DISTRICT NO. 1 (P. 0 . Helena), Lewis and Clark
resulted In d efea t, reports s ta te , o f th e p r o p o s itio n t o Issue $60 ,000 e le ctr ic C o u n tv M on t — Bonds Voted.— T h e e le ctio n held J u ly 13 resu lted In fa v o r
ligh t b o n d s.
o f th e p r o p o s itio n to Issue $ 70 ,000 5 % 1 0 -2 0 -y r . ( o p t .) b ld g , b o n d s ( V . 94
E A ST O N , N orth a m p ton C o u n ty , P a .— Bonds Not Sold.— N o aw ard has
p 1717)
T h e v o t e w as 95 t o 61.
y e t been m a d e o f th e $45,000 4 % 5 -30-year (o p t.) c o u p o n ta x -fr e e lm p t.
HENDERSON COUNTY DRAINAGE DISTRICT NO. 2, III— Bonds
b on d s otTcred on Ju n e 6 (V . 94, p . 1522)
Ottered by Bankers.— B olger, M osser & W illa m a n o f C h ica go are o fferin g t o
D e n o m . $50 0.
D ate Ju n e 15 191 2. I n t.
E L M O R E C O U N T Y (P . O . M ou n tain H o m e ), I d a h o .— Bond S a le .— I t Is Investors $152,000 6 % b o n d s.
r ep orted th a t C offin & C ra w fo rd o f C h ica g o w ere aw arded o n J u ly 8 an Issue j a. n a t the S tate T reasu rer’ s o ffic e . D u e o n Ju n e 15 as fo llo w s : $4,000
In 1915 $4 500 In 1916, $5,500 in 1917, $ 6,500 in 1918. $ 7 ,500 In 1919 and
o f $28 ,200 5
refu n d in g b o n d s a t 102.269 an d Int.
1920 $8 500 in 1921, $9,000 In 1922, $10 ,000 In 1923, $11 ,500 In 1924, 1925
E R I E , P a .— Bonds Authorized.— O rd in a n ces h a v e been pa ssed , lo ca l
an d 1926 $12,500 in 1927 an d 1928, $ 10 ,500 in 1929 an d 1930, a n d $ 8 ,500
p ap ers s ta te , p r o v id in g fo r the issuance o f $ 5 ,000 .State S t., $ 6 ,500 c u lv e r t,
in 1031. ’
$ 17 ,000 g a rb a g e-p la n t an d $45,000 c o n d u it-s y s te m b o n d s.
2 0 ,500
D ra p er S t J lm p t U<(cU y ^ p o rtio n ) b o n d s .
M . & S.
D ue S e p t. 1 1932.
D en om in a tion $500 o r m u ltiples th e re o f.
D a te S e p t. 1 1 9 1 2 .
100
THE CHRONICLE
HIGHLAND PARK, Wayne County, Mich.— Bond Sale.— On J u ly II
th e $49 ,500 2 0 -y ea r w a te r-e x t. b o n d s (V . 95, p . 67) w ere aw ard ed to the
S e c u r ity T r u s t C o. o f D e tr o it fo r $50 ,5 8 0 (102.18) fo r 4>^s.
D a te A u g 1
1912.
In t. F . & A .
B ids w ere also re ce iv e d fro m the H igh lan d P a rk S ta te
Bank; H o e h le r & C u m m in gs o f T o l.; S e a so n g o o d & M ayer o f C in .; th e F irst
N t . B a n k o f D e tr o it an d C. F . C hilds & C o . o f C h ica g o .
H IG H T S T O W N , M ercer C o u n ty , N. J .— Bonds Voted.— R e p o rts s ta te th at
the election (V . 94, p . 1717) held re ce n tly resulted in fa v o r o f the p r o p o
s ition t o issue $ 3 o,0 0 0 sew er an d d isp o sa l-p la n t b o n d s.
HOBOKEN, N J.— Bond Offering.— P ro p o sa ls w ill b e re ce iv e d u n til
4 p . m . J u ly 24 b y th e M a y o r and C ou n cil, J . H . L on d rig a n , C ity Clerk, fo r
$25 ,0 0 0 4 % c o u p , o r r e g . p a r k -im p t. b o n d s.
D ue A u g . 1 1937.
The official notice of this bond offering will be found among the advertise
ments elsewhere in this Department.
HOOD RIVER, Ore.— Bond Sale.— O n J u ly 8 liv e issues o f 6 % 1 -1 0 -y r.
(o p t.) b on d s a ggregatin g $ 23 ,047 74 w ere aw ard ed to the H a n c h e tt B on d
C o . o f C h icago a t p a r an d in t.
I n t. se m i-a n n . a t th e C ity T reas. o ffic e .
HOUSTON, Harris County, T e x a s .— Result of Election.— T h e e le ctio n held
J u ly 9 to v o t e on th e q u e stio n o f Issuing the se ve ra l issues o f 1 %% b on d s
(V . 94, p . 1717) resu lted as fo llo w s , a c c o r d in g to lo ca l papers;
Bonds Voted.
Am ount.
Purpose.
For. Against.
$ 7 5 0 ,0 0 0 . .D r a i n a g e ___________________ _______ _________________1,487
1,3 17
5 0 0 .0 0 0 .
. 5 . w e r ______________________________________________ 1,502
1,333
5 0 0 .0 0 0 .
. Hlgh-SChool ________
1,578
1,261
3 0 0 .0 0 0 . . S t r e e t - p a v i n g ________________________________________1,474
1,366
2 5 0 .0 0 0 .
. P a r k ..................
. .1 , 4 4 6
1,385
2 0 0 .0 0 0 .
. B r i d g e ------------------------------------------------.1 ,5 1 9
1,318
Bonds Defeated.
1 5 0 .0 0 0 . .C it y -h a ll------------------1,309
1,437
Bonds Registered.— O n J u ly 12 $ 1 0 0,00 0 4 34 % str e e t-p a v in g b on d s (V . 94
p . 1581) w ere registered b y th e S ta te C o m p tr o lle r .
D ue $5,000 y e a rly fo r
1 y ea rs, $6,000 y e a r ly fo r 3 years, $7,0 0 0 y e a r ly fo r 3 yea rs, then $8,000
y e a r ly for 4 years an d $ 9 ,000 fo r 1 y e a r.
HOWELL, Livingston County, Mich.— Bond Sale.— On J u ly 16 $34,000
4 Ki% 5 -year c o u p , sew er b o n d s (V . 95, p . 128) w ere aw arded to A le x . .Mc
P h erson & C o. o f H o w e ll a t 1 03 .547 . T h e bids fo llo w :
A le x . M cP h erson & C o .,
N . W . H alsey & C o ., C h ic .$34 ,367 00
H o w e ll__________________ $35 ,206 04 A . J . H o o d & C o ., D e tro it 34,351 00
First N a t. B a n k , D e tr o it . 34,765 00 I t. C. S p e e r & S on s C o ., C h .34 ,341 00
H oeh ler & C u m m in gs, T o l. 3 4 ,717 50 F irst S ta te & S a v . B a nk,
B u m p u s & C o ., D e tr o it
3 4 ,707 00
H o w e l l ................................ 34,339 10
H U A 1M ELSTO W N SC H O O L D IS T R IC T (P . O. H u m m c ls t o w n ), D auphin
C o u n ty . P a .— Bond Offering.— P ro p o sa ls will be re ce ive d until 12 m . to -d a y
(July 20) b y T . (J. F c g c ly , S e c ., fo r $8,000 4 % c o u p , s ch o o l-h o u s e -im p t.
ta x -free B o n d s . D e n o m . $ 50 0.
D ate M ay 29 1912. I n t. M. & N . in
H u m m clstow n . D u e $500 y r ly . o n M ay 29 fro m 1913 to 1928 ln cl. C ert,
c h e c k fo r $100, p a y a b le to the S e c ., re q u ire d .
P u rch a ser to p a y accru ed
Interest. T o ta l d e b t, $ 8 ,5 0 0 . A ssess, v a l., 1911, $ 82 4,50 0.
■• H U N T S V IL L E SC H O O L D IS T R IC T , L o g a n C o u n ty , O h io .— B o n d Sale.
— H oeh ler & C u m m ings o f T o le d o w ere a w a rd e d , re p o rts sta te , $30 ,000 .
b o n d s for $31 ,287 50, m ak in g th e price 104.29.
H U T C H IN S O N , K a n s .— Bond Election.— A n e le ctio n w ill be held A u g . 6,
r ep o rts s ta te, to v o t e on the q u e stio n o f Issuing $30 ,000 bon d s to aid the
H u tch in s o n & W estern Interu rban I t y .
It is fu rth er rep o rte d th a t a
p rop osition to Issue $30 ,000 b o n d s fo r c o v e t in g C o w Creek o n A v e n u e A
w est o f M ain S treet, will also be s u b m itte d t o a v o t e o n A u g . 6.
IB E R V IL L E P A R IS H SC H O O L D IS T R IC T (P . O. P la q u e m in e ), L a .—
Bond Sale. O n J u ly 10 the $33 ,0 0 0 5 % s ch o o l b o n d s (V . 94, p . 1780) w ere
aw ard ed to C u tter, M ay & C o . o f C h icago fo r $33 ,0 5 7 , m ak in g th e price
100.172.
IO W A C I T Y , I o w a .— Bonds Authorized.— T h e C ity C ou ncil has a u th o r
ized the issuance o f $11,212 32 6 % s tr e e t-im p t. b o n d s, re p o rts sta te.
JA C K S O N C O U N T Y (P . O . P a s c a g o u la ), A liss.— Bonds Proposed.— T h e
R o a d C om m ission ers o f S ep a ra te R o a d D ist. N o . 3 h a v e agreed , it is s ta te d ,
to p etition the B o a rd o f S u p e rv iso rs to Issue $ 25 ,000 ro a d b o n d s.
J E S U P . Via.— Bond Sale.— O n J u ly 15 th e $ 10 ,000 5 % 3 0 -y r . e le ctricligh t b on d s (V . 95, p. 67) w ere aw ard ed to the H illy e r T ru s t C o. o f A tla n ta
a t 100.50. O th er bid s fo llo w :
C. II. C offin , C h ic a g o ______ $10,010| J . H . H ilsm an & C o ., A t l a n . .$ 1 0 ,0 0 0
D en om . $ 1 ,0 0 0 .
D a te A u g . 1 1912. I n t. F . & A .
JO H N ST O N T O W N S H IP C E N T R A L I Z E D H IG H SC H O O L D IS T R IC T .
T ru m b u ll C o u n ty , O h io.— Bond Offering.— P rop osa ls w ill be rece iv e d until
12 m . J u ly 27 b y W . II. L a w , Clerk B d . o f E d ., fo r $3,500 5 % refu nding
b o n d s. A u th ., S e c . 5656, G en. C o d e .
D e n o m . $350.
D ate M ch. 1 1912.
In t. M. & S .
D ue $350 each six m o n th s fro m M ch . 1 1913 to S e p t. 1 1917
ln cl.
Purchaser t o p a y accru e d interest.
K E L S O , C o w litz C o u n t y , W a s h .— Bond Election.— A n e lection w ill be
h eld A u g . 5 to v o t e o n th e qu e stio n o f issuing $14 ,000 city -h a ll b o n d s,
a c c o r d in g t o re p o rts .
K E N T O N . O h io .— Bond Sale.— O 11 J u ly 12 the K e n to n B uilding & Loan
C o. w as aw arded, reports s ta te , $ 39 ,600 5 % str e e t-im p t. bon d s fo r $41,100
(103.78) and interest.
K E Y S E R SC H O O L D IS T R IC T , M ineral C o u n ty , W . V a .— Bond Sale.—
O n J u ly 5 the $ 15 ,000 5 % sch o o l b o n d s (V . 94, p . 1780) were aw arded at
par— $6,000 to the First N at. B a n k o f K e y se r, $1,000 to M . E . D ye o f
K ey s et and $ 8 ,0 0 0 to the C itizen s' N a t. B a n k o f VVestcrnport.
D en om .
$500.
D ate A u g . 1 1912.
I n t. a n n . in A u g .
D ue fro m A u g . 1 1922
t o 1929.
L A C L E D E C O U N T Y (P . O. L e b a n o n ), A lo.— Bond Sale.— The $50,000
L eb a n on R oad D ist. N o. I b o n d s offe re d o n Ju n e 8 (V . 94, p . 1522) have
been pu rchased b y W . I . DHIendorfTer, Cashier o f B a n k o f L eb a n o n , at
100.20, rep orts s ta te.
LA G R A N G E , Lorain C o u n ty , O h io .— Bond Sale.— O n J u ly 15 th e $4,000
5 % 4 H -y r . (a v .) s to n e -r o a d -im p t. (v illa g e ’s p o r tio n ) b o n d s (V . 94, p. 1780
w ere aw arded to S ta c y & B rau n o f T o le d o fo r $4,054 75 (101.368) and in t
O th er bids fo llo w :
S p itzer, R o rlck & C o ., T o l — $ 4 ,0 5 1 1N ew F irst N a t. B k ., C o l_____ $4,043
L A W R E N C E C O U N T Y (P . O . A lo n t ic c llo ), A liss.— Bond Offering.— N ew
O rleans papers sta te th a t the B o a rd o f S u p erv isors has d e cid e d to advertise
for bids for $50 ,000 co u r t-h o u s e an d $25 ,000 brid ge b o n d s.
L E H IG H , W e b s te r C o u n ty , I o w a .— Bonds Voted.— A c c o r d in g to reports,
an election held J u ly 15 resu lted In fa v o r o f the p ro p o sitio n t o issue $20,000
b on d s fo r an ele ctr ic -lig h t an d w a te r-w o rk s p la n t. T h e v o t e w as 260 " f o r ”
an d 87 “ a g a in s t.”
L E O N IA , N. J .— Bond Election Proposed.— A n e le ctio n wilt be held the
la tter part o f A u g u s t, it is s ta te d , t o v o t e o n the q u e stio n o f issuing $23,000
sew er b o n d s.
L E O N IA SC H O O L D IS T R IC T (P . 0 . L c o n ia ), B ergen C o u n ty , N. J .—
Bond Offering.— P rop osals will bo re ce iv e d until 8 p . m . Ju ly 22 b y L . D .
W ln k elm a n , D ist. Clerk, fo r S65.000 -l <4 % c o u p , (with p r iv . o f reg.) s ch o o l
b on d s.
D en om . $ 1 ,0 0 0 .
D ate J u ly 1 1912. I n t. J . & J . at the C o lu m biaK n lc k c r b o c k c r T r u s t C o ., N . Y . C ity .
D ue $1,000 y r ly . on Ju ly 1 fro m
1920 to 1924 in cl., $3,000 on J u ly 1 fro m 1925 t o 1929 ln cl. and $5,000 y r ly .
on J u ly 1 from 1930 to 1938 in cl.
B on d s w ill be ce rtifie d as to genuine
ness b y the C olu m b ia -K n ic k e r b o c k e r T ru st C o . T h e v a lid ity o f the Issue
has been a p p rov ed b y H aw k ins, D elafleld & L o n g fe llo w , N . Y . C ity, w hose
o p in io n will be furnish ed to the pu rch aser.
C ert, c h e ck o n an in co rp o ra te d
ban k or trust c o m p a n y fo r 5 % o f b o n d s b id for, p a y a b le to F . I I . T ro w ,
C u stod ian , req u ir e d . P u reh . to p a y a ccru e d in t.
B ids t o be m a d e on
blank form s to be furnish ed b y the d istrict.
L E W IS T O N . C a ch e C o u n ty . U ta h .— Bond Offering.— P rop osa ls w ill be
receiv ed until 2 p . m . J u ly 23 b y J o s . H y e r, Pres. B d . fo T ru stees, fo r
the $47 ,000 5 % 10-20-year (o p t .) b o n d s.
D e n o m . $ 1 ,0 0 0 .
I n t. J . & J .
?■ LIAl A , Allen C ou n ty , O h io .— Bonds Authorized.— A n o rd in a n ce was passed
J u ly 1 p ro v id in g for the issu ance o f $2,250 5 % B rice A v e .-im p t . assessm ent
b o n d s.
D en om . $250.
D ate J u ly 1 1912.
In t. a n n . in S e p t, at o ftice
o f Sin k in g F u nd T ru s te e s . D ue $250 y r ly . o n S e p t. 1 fro m 1913 to 1921 Inc.
L O C K P O R T , N iagara C o u n ty , N. Y .— Bond Offering.— P roposals w ill
be re ce iv e d until 12 m . t o -d a y (Ju ly 20) b y B . M . H u tch e so n , C ity T rea s.,
fo r $14,000 5 % r eg . s c h ool-re p a ir b o n d s. A u th ., C h a p . 729, Law s o f 1868,
as am en d ed b y C h a p . 483, L a w s o f 1895.
D e n o m . $ 3 ,5 0 0 .
D ate J u ly 20
1912.
In t. J . & J . a t o ffic e o f th e C ity T re a s.
D ue in fo u r equa l annual
Installm ents fro m N o v . 15 1912. C ert, ch e ck for 2 % o f b id , p a y a b le to the
c it y o f I^>okportj requ ired
[VOL. LXXXXV.
Bond Sale.
vvere
227 80 was
L ock p ort.
D ue $2,560
W o learn th a t on J u ly 12 $25 ,000 5 % stre e t-im p ro v e m e n t
a !vardcd ,t0 A d a m s & C o. o f N . Y . at 1 0 2 .5 0 . A b id o f $ 2 6 ,
also re ce iv e d fro m the F a rm ers' & M e rch a n ts ’ S a v B a n k o f
D en om . $ 2 ,5 6 0 . D a te J u ly 15 1912.
Int aim in D e cem b er
y r ly . D e c . 1 1913 to 1922 ln cl.
cein D ei.
LONGVIEW, Gregg County, Texas.— Bonds Registered__ On J u lv 12
C om ptroU er 20"4° " y r
(° Pt-) water_worl£s b o n d s w ere registered b y th e S ta te
LOS GATOS, Cal.— Bonds Proposed.— T h e Issuance o f $100 000 street
im p t. b o n d s Is be in g c o n s id e r e d , it Is s ta te d .
LVNN, Alass.— Temporarg Loan.— A loan o f $ 1 0 0,00 0 d u e A p ril 2 1013
has been a w a rd e d , it is s ta te d , to It. L . D a y & C o . o f B o s to n a t 3 .9 2 % d is c ’ t.
MACOMB, AlcDonough County, III.— Bond Sale.— O n J u ly 2 the $7,000
4
e n gin e-h ou se bon d s (V . 94, p . 1780) w ere a w a rd e d , re p o rts s ta te , to
th e U n ion N a t. B ank fo r $7,040 38, m ak in g the price 100.576.
McALESTER, Okla.— Bonds Voted.— A n e le ctio n held r e c e n tly resu lted ,
it is stated, In fa v o r o f the qu estion o f issuing the $60 ,000 s ch o o l b o n d s.
Bond Sale.— We are ad vise d that S p itz e r, Iio rick & C o . o f T o le d o h a v e
been aw arded the $32,210 6 % 2 5 -y r . w arra n t-fu n d in g b o n d s d e s crib e d in
V . 94, p . 1522. T h e p rice p a id was p ar an d blank b o n d s.
A lA A 1A R O N E C K , W e s tch e s te r C o u n ty , N. Y .— Bond Sale.— O n J u ly 18
G eo. M . H ahn o f N . Y . was aw arded a t 100.28 fo r 4 .40s the fo llo w in g b o n d s '
$20 ,000 sew er b o n d s.
D en om . $ 1 ,0 0 0 .
D u e $1,000 yea rly A u g . 1 1917
to 1936, in clu sive.
15,000 stre e t-p a v in g b o n d s.
D e n o m . $ 1 ,0 0 0 .
D ue $1,0 0 0 ye a rlv A u g 1
1917 to 1931, in clu sive.
12,500 fire-house b o n d s.
D e n o m . $50 0.
D u e $500 y e a rly A u g . 1 1916
to 1940, in clu sive .
6,000 brid ge b o n d s.
D e n o m . $500.
D ue $500 y e a rly A u g . 1 1917 to
1928, in clu sive.
D a te A u g . 1 1912. In terest sem i-an n u al.
A1ARION COUNTY (I*. O. M a rio n ), O h io .— Bond Offering.— P rop osa ls
will be received until 12 n i. A u g . 3 b y J . H . Clark, A t to r n e y , fo r the f o l
lo w in g 5 % co u p o n b o n d s:
$8,900 R u bin s J o in t C o . Free T u rn p ik e ro a d b o n d s.
D e n o m . (2) $670,
(2) S720, (2) $750, )2 ) $780, (2) $820, (1) $800 an d (1) $56 0.
D ue
$670 M arch 1 an d S e p t. 1 in 1913; $720 M arch t and S e p t. 1 in 1914;
$750 M arch 1 and S e p t. 1 lu 1915; $780 M arch 1 an S e p t . 1 In 1916:
$820 M arch 1 an d S e p t. 1 in 1917; $800 M arch 1 1918 an d $560
S e p t. 1 1918.
11,400 E m ah lzer Free T u rn p ik e road b o n d s.
D e n o m . (2) $540, (2) $580,
(2) $600, (2) $630, (2) $660, (2) $700, (2) $730, (2) $770, (1) $800
and (1) $180.
D ue $540 M arch 1 and S e p t. 1 1913, $580 M arch 1
an d S e p t. 1 1914. $000 M arch 1 an d S e p t. 1 1915, $630 M arch I and
S e p t. 1 1916, $660 M arch 1 an d S e p t. I 1917, $700 M arch 1 an d
S e p t. 1 1918, $730 M arch 1 and S e p t. 1 1919, $770 M arch 1 an d
S e p t. 1 1920, $800 M arch 1 1921 and $180 S e p t. 1 1921.
D ate S e p t. T 1912.
In t. M . & S . at th e C o u n ty T rea s. o ffic e . C ert,
c h e ck for S100 on a ban k in M arion C o u n ty for each issue bid fo r is r e q u ir e d .
MARION COUNTY (P. O. F a ir m o n t ), W . Va.— Bond Election Proposed .—
T h e m atter o f h o ld in g an e le ctio n to v o te o n the issuance o f $ 4 0 0,00 0 road
b o n d s is be in g a g ita te d , it is s ta te d .
MARLETTE, Sanilac C o u n ty , M ich .— Bond Offering.— P ro p o sa ls w ill be
re ce iv e d until 8:30 p . m . J u ly 23 b y I I . D . Jcirord s, V illa ge C le rk , for
$4,000 ele ctric-lig h t r e fu n d in g and $5,000 w a te r-w o rk s -e x te n s io n b on d s.
D e n o m . $ 1 ,0 0 0 .
I n t. rate n o t lix e d .
D u e $1,0 0 0 y e a r ly fro m 1913 to
1921, ln cl. C ertified c h e ck fo r $200 re q u ir e d .
MARYSVILLE SCHOOL DISTRICT (P. O. Marysville), Ottawa County,
Ohio.— Bonds Defeated.— -The e le ctio n held J u ly 15 resu lted , reports s ta te ,
in d e fe a t o f th e p r o p o s itio n to issue th e $11 0,00 0 b o n d s (V . 95, p . 67.)
A1ATAGORDA COUNTY DRAINAGE DISTRICT NO. 3, T exas— Bonds
Registered.— On J u ly 12, $ 27 ,950 5 % b o n d s so ld in F eb ru ary (V . 9 4 , p .
781) w ere registered b y the S ta te C o m p tro lle r.
D ue $500 y e a r ly .
AIEDING, Alinn.— Bonds Offered by Bankers.— U len & C o . o f C h ica g o arc
oiTering to investors the fo llo w in g 6 % b o n d s:
$3,000 to w n -h a ll b o n d s.
D ue $1,000 on D e o . 1 in 1914, 1915 an d 1917.
7,000 road and bridge b o n d s.
D ue $1,000 y e a r ly D e c. 1 1914 to 1918
an d $2,000 D e c. 1 1919.
D e n o m . $ 1 ,0 0 0 .
D ate Jun e 1 1912.
I n t. a n n u a lly In Jun o a t the C orn
E x ch a n g e N a t. B a n k in C h ica g o .
B o n d d e b t, $ 1 0 ,0 0 0 . A ssessed v a lu a
tio n , 1910, $21 1 ,6 2 1 .
R eal v a lu a tio n (e s t.), $ 6 0 0 ,0 0 0 .
AIERCER COUNTY (P . O. Cclina), O h io .— Bond Offering.— P rop osals
will be re c e lv c u until 10 a. m . A u g . 6 b y J . L . M o rro w , C o u n ty A u d ., for
$35 ,000 4 Ja% c o u p . W abash D itch Im pt. N o . 541 b o n d s. A u th ., T itle 6
C h ap. 1, S ec. 22h, R e v . S ta ts ., and a m e n d m e n ts th e re to .
D e n o m . $ 5 0 o ’.
D ate S e p t. 1 1912. I n t. M . & S. at o ffic e o f th e C o u n ty T reas.
Due
$7,000 y r ly . o n S e p t. 1 fro m 1913 t o 1917 in cl. Cash d e p o s it o f $500 re
q u ire d .
B o n d s to be d e liv e re d S e p t. 1.
Bond Sale.— O n J u ly 16 $3,300 5 % Sill F ree T u rn p ik e b o n d s w ere
aw ard ed t o the C om m ercia l B a n k in g C o. o f C clin a fo r $ 3,349, m a k in g the
p rice 101 .484 . T h e N ew First N at. B ank o f C o lu m b u s b id $ 3 ,3 3 4 . D e n o m .
$300.
D ate A u g u s t 28 1912. I n t. an n . D ue $300 y r ly . 1914 t o 1924 Incl.
MERIDIAN SCHOOL DISTRICT (P . O. Meridian), Idaho. — Bonds Voted.
— A c c o r d in g to re p o rts, an issue o f $35 ,000 b u ild in g b o n d s has been v o t e d .
M E R ID I A N IN D E P E N D E N T SC H O O L D IS T R IC T (P . O. M e rid ia n ),
B a sque C o u n ty . T e x a s .— Bonds Registered.— O n J u ly 12 $21 ,000 5 % 4 0 -y ca r
sch o o l bon d s w ere registered b y the S ta te C o m p tro lle r.
AlIDDLETOWN, Orange County, N. Y.— Bond Offering.— P rop osals
w ill be re ce iv e d until 2 p . m . J u ly 22 b y I. B . A . T a y lo r , C ity C lerk, for
$17,000 4 V2 % reg. s c h o o l b o n d s.
D e n o m . $ 1 ,000.
D ate J u ly 1 1912
I n t. J . & J . at o ffic e o f th e C ity Clerk.
D ue J u ly 1 1922. C ert, c h e c k or
ban k d ra ft o n a N . Y . S ta te b a n k o r trust c o m p a n y fo r 2 % o f b o n d s bid
fo r , p a y a b le t o th e C ity C lerk, re q u ire d .
AlONTCLAIR, E s s e x County, N. J.— Bond Offering.— F u r t h e r d e t a i l s
a r e a t h a n d r e la t iv e t o th e o lfe r ln g o n A u g . 5 o f th e $ 1 0 0 ,0 0 0 p o lic e a n d
f l r e - s t a . - l m p . a n d $ 2 6 1 ,0 0 0 s c h o o l - b l d g . 4 ! 4 % g o l d c o u p , b o n d s ( V . 9 5 , p 1 2 9 ) .
P r o p o s a l s f o r t h e s e b o n d s w i l l b e r e c e i v e d u n t i l 8 p. m . o n t h a t d a y byH a r r y T r lp p c t t , T o w n C le r k .
D e n o m . $ 1 ,0 0 0 .
D a te A u g . 1 1 91 2.
In t.
F . & A . a t th e B a n k o f M o n t c la ir .
D ue A u g . 1 1942.
T h e v a lid it y o f th e se
b o n d s h a s b e e n a p p r o v e d b y D a w k in s , D e la fle ld & L o n g f e llo w , N . Y . C it y ,
w h o s e o p i n i o n w il l b e f u r n i s h e d , w i t h o u t c h a r g e , t o t h e p u r c h a e s r .
C ert,
c h e c k fo r 2 % o f b id , p a y a b le t o S . I I . W e n e k , T o w n T r e a s ., r e q u ir e d ,
AIONTGOAIERY COUNTY (P . O. Rockville), Aid — Bond Sale.— O n
J u l y 16 t h e $ 4 7 , 0 0 0 l l 4 ° o c o u p b o n d s (2 I s s u e s ) — V . 9 4 , p . 1 7 1 9 — w e r e
a w a r d e d t o R ig g s & M c E a n e a n d J e n k ln , W h e d b e o & P o o o f B a lt im o r e fo r
$ 4 7 ,4 7 2 (1 0 1 .0 0 4 ) a n d in te r e s t .
O th e r b id s fo llo w :
Baker, W atts & C o ., B a l t . $47,219 70| T ow n scn 1 S c o t t & S o n ,B a lt $46 .835 97
C. E . D enison & C o ., B o s t. 47,052 40| Jn o. E . W est (fo r $3,000 b d s . ) . Par
AlONTICELLO, G a.— Bond Sale.— O n Ju n e 20 $15,000 5 % w ater and
ligh t im p t. b o n d s w ere aw ard ed to the F a rm e rs’ N at. B ank In M o n tlccllo at
101.25.
D e n o m . $1,000.
D a te J u ly 1 1912.
I n t. J . & J .
AlONTROSE, Pa.— Bond Sale.— On A p ril 29 $3,600 5 % se w a ge-d isp osal
b o n d s w ere aw ard ed t o H . E . C o o le y at 102.125.
D e n o m . $100.
D ate
M a y 1 1912.
I n t. M . & N .
D u e fro m 1916 to 1920.
AlORRISTOWN SCHOOL DISTRICT (P. O. Alorristown). Alorris County.
N. J.— Bond Offering.— P r o p o s a l s w i l l b e r e c e i v e d u n t i l 11 a . m . J u l y ' 2 6 b y
G. C. S m ith , C lerk, fo r th e $42 ,000 4 'A% co u p o n repair b o n d s v o te d
May 20 (V . 94, p. 1523). D en om . (24) $500, (30) $ 1 ,000. D ate A u g 1
1912.
In t. F . & A .
D ue $8,000 A u g . 1 1922 an d $34,000 A u g . 1 193 2.
B o n d s to be d e liv e re d A u g . 1.
AIT. P U L A S K I SC H O O L D IS T R IC T , L oga n C o u n ty , III.— Bonds Voted.
— A n election held J u ly 6 re su lte d in fa v o r , re p o rts s ta te , o f the p ro p o s ition
to issue $45,000 to w n sh ip h lg h -s ch o o l-b u lld ln g b o n d s.
AIT. V IC T O R Y SC H O O L D IS T R IC T (P . O. Alt. V ic t o r y ), H ardin C o u n ty .
O h io .— Bond Sale.— O n J u ly 13 th e $30,000 4 'A % 1-20-year (serial) b u ild in g
b o n d s ( V . 9 5 , p. 129) w ere aw ard ed t o th e First N at, B a n k o f C levelan d fo r
$31,067 90 (103.557) an d in t.
O th er bids fo llo w :
O tis & C o ., C le v e la n d . _ . . $ 3 0 ,9 5 1 1S e a s o n g o o d & M a y e r, Cln__ .$ 3 0 ,7 2 9
H a y d e n , M iller & C o ., C lo v e . 30,870 S p itze r, R o rlck & C o ., T o l . - 30,534
W e ll, R o th & C o ., C in e ln ____ 3 0 ,810 S . A . K ean & Co
C h ic a g o - . *30,100
S t a c y & B rau n, T o l e d o _____ 30,7 4 5
* A n d b lan k b o n d s.
AlOVILLE, Woodbury County, Iowa.— Purchaser of Bonds.— T h e p u r
ch a se r o f the $7,800 5 J s % 10-20-yr. (o p t.) e le ctric-lig h t bonds (V . 95,
p . 129) was G eo. M . B ech tel <5c C o. o f D a v e n p o r t fo r $ 7 ,870, m ak in g th e
p rice 100.897.
D e n o m . $500.
D ate J u ly 1 1912.
In t. J . & J .
July 20 1S)12.1
THE CHRONICLE
N E W B U R G H H E IG H T S . C u y a h o g a C o u n ty . Ohio.— Bond Offering.—
P rop osa ls w ill be re ce iv e d u n til 12 in. A u g . 14 b y C. E . G ood sin lth , V ll.
C lerk (5404 H a rva rd A v e ., C le v e la n d ), fo r $20 ,000 4 ) 3 % c o u p , w a tcrw o rk s -c o n s tr . b on d s.
D e n o m . $ 1 ,0 0 0 .
D ate J u ly 1 1912. I n t . J . & J .
D u o J u ly 1 1952. C ert, c h e c k o n a C levela n d b a n k fo r 5 % o f b o n d s b id
fo r r e q u ir e d .
R ids to be m a d e o n b lan k fo rm s fu rn ish ed b y th e V ll. C lerk.
N E W C A S T L E , P a .— Bond Offering.— P ro p o sa ls w ill be re ce iv e d u n til
8 p . m . A u g . 12 b y I>. W illia m s, C ity C lerk, It Is s ta te d , fo r the $75,000 4 14%
1 5 -2 0 -y r. (o p t .) se w c r -lm p t. b o n d s ( V . 94, p . 107 7).
I n t. sem i-an n u al.
C ertified c h e c k for $500 re q u ire d .
N E W H A R T F O R D . O neida C o u n ty , N. Y .— Bonds Not Sold.— N o aw ard
w as m a d e J u ly 11, It Is s ta te d , o f the $44 ,000 4 H % 1- 22-y e a r (scr.) r e g .
Sew er D lst. N o . 1 ta x -fre e b o n d s (V . 95, p . 6 8 ). T h e y arc b ein g re -offered
as 4 *3s.
N E W K N O X V IL L E SC H O O L D IS T R IC T (P . O . N ew K n o x v ille ),
A u g la iz e C o u n ty , O h io .— Bonds Defeated.— R e p o rts state th a t th e e lection
held J u ly 2 resulted In the d e fe a t o f th e p r o p o s itio n t o Issue $17 ,000 s c h o o l
b u ild in g b on d s ( V . 94, p . 178 1).
N E W P H I L A D E L P H I A SC H O O L D IS T R IC T , O h io .— Bonds Defeated —
T h e p r o p o s itio n to Issue th e $11 0,00 0 b ld g , b o n d s (V . 94, p. 1781) was
d e fe a te d , It Is sta ted , a t th e e le ctio n h eld J u ly 16. T h e v o te w;is 533 t o 776.
N E W P O R T , C a m p bell C o u n ty , K y .— Bond Sale.— O n J u ly 15 th e $50,000
4 % 3 0 -y r . c o u p , s tr e ct-im p t. b o n d s (V . 94, p . 1781) w ere a w a rd e d t o the
N e w p o r t N a t. B ank at 100.8015 and Int. O th er bid s fo llo w :
G erm an N a t. B a nk, N e w p ’ t -$ 5 0 ,2 5 6 | P r o v .S a v .B k .& T r .C o ., C ln ..$ 4 9 ,5 0 0
S ea s on g ood & M ayer, C in ___ 50,212 |W e ll, Ito th & C o ., C ln ------------- 49,2 5 5
N E W P O R T , R . I .— Temporary Loan.— A loan o f $ 4 0 ,0 0 0 , d u e S e p t. 5
1912, w as n eg otia ted on J u ly 11 w ith E s ta b ro o k & C o . o f B o s to n at 3 .4 9 %
d is c o u n t.
N E W T O N F A L L S , T ru m b u ll C o u n ty , O h i o — Bond Sale.— On J u ly 15
th e $15,000 4 K % 8 M -y r. (a v .) c o u p , (v illa g e ’s p o rtio n ) s tr e e t-lm p t. b o n d s
(V . 94, p . 1719) w ere aw ard ed to th e First N a t. B a n k o f N e w to n F alls at
102.789 an d Int. O th er bids fo llo w :
O tis & C o ., C le v e la n d _______$15,401 S e a so n g o o d & M ayer, C in — $15,275
T lllo ts o n & W o lc o t t C o ., C le . 15,399 H a y d e n , M iller & C o ., C le v e . 15,270
S ta c y & B rau n , T o le d o ______15,200
First N a t. B a n k , C le v e ---------15,397
H o e h le r & C u m m ings, T o le d o 15,313 S p ltz cr, Ito rick & C o ., T o l_ _ 15,160
N ew F irst N at. B a n k . C o l . . . 15,301 [W e il, R o t h & C o ., C in .............15,143
N O R M A N , C levelan d C o u n ty , O k la .— Bond Election.— A c c o r d in g t o re
p orts, an election w ill be held A u g . 6 to v o t e on th e p r o p o s itio n t o Issue
$20 ,000 S ou th C anadian R iv e r brid ge b o n d s.
N O R TH C A T A S A U O U A SC H O O L D IS T R IC T , P a — Bonds Voted.— A n
e le ctio n held r e c e n tly resu lted In fa v o r o f th e p r o p o s itio n t o issue $33,000
s c h o o l b o n d s. T h e v o t e , a c c o r d in g t o rep orts, was 168 t o 106.
N O R TH G L E N D A L E
SC H O O L D IS T R IC T , C a l .— Bond Sale— I t Is
s ta te d th a t T o rra n ce. M arshall & C o. o f L os A n ge le s w ere a w a rd e d fo r
$31 ,000 (103.33) a n issue o f $30 ,0 0 b o n d s.
N ORTH H E M P S T E A D (P . 0 . M a n h a ss e t), N assau C o u n ty , N. Y .—
ond Offering.— P rop osals w ill be re ce iv e d until J u ly 23, re p o rts s ta te , fo r
,000 E ast W llllston W a te r D istrict b o n d s.
O R T H P L A I N F I E L D SC H O O L D IS T .— (P . O . P la in fie ld ), U nion
o u n t y , N. J .—Bond Offering.— P rop osals will b e r e ce iv e d , It is s ta te d ,
u n til 8 p. m . J u ly 29 b y C. M . D o lliv e r, Clerk, fo r $18 ,000 4 H % 11 PS-year
(a v er.) s ch o o l b o n d s . A sim ilar Issue o f b o n d s was o fle re d o n J u iy 15.
V . 94, p . 1781.
N O R W O O D , H am ilton C o u n ty , O h io .— Bond Offering.— P rop osa ls will
be receiv ed until 12 m . J u ly 29 b y W . E . C a m p bell, C ity A u d ., fo r th e fo l
low in g 4 ) 3 % b o n d s:
,
$4,967 55 sld c w a lk -lm p t. assess, b o n d s.
D e n o m . $100 o r m u ltiples th ere
o f.
D ate M a y 16 1912. I n t. a n n .
D ue o n e -te n th p a rt y r ly .
fro m 1913 t o 1917 in cl. A m o u n t o f b o n d s to b e Issued m a y be
red u ced b y th e a m o u n t o f assessm ents p aid In cash p rio r to
d a te o f sale.
4,000 00 w a te r-m o ln -c x tc n s lo n b o n d s .
D e n o m . $500.
D a te J u ly 29
1912.
I n t. s e m l-a n n .
D ue J u ly 20 1932.
C ert, ch e ck for 5 % o f b o n d s bid fo r , p a y a b le t o th e C ity T r c a s ., requ ired .
•O G D E N S B U R G , St. L a w ren ce C o u n ty , N. Y .— Bond Sale.— T h e $10 0,
000 4 14% stre e t-lm p t. b o n d s offe re d o n J u ly 17 (V . 95, p . 129) were
aw ard ed t o local ban ks a t 100.9.
D e n o m . $500 an d $ 1 ,000, t o su it pur
ch a ser.
D ate June 1 1912. I n t . M ch . & S e p t.
D ue $5,000 y e a rly be
g in n in g S e p t. 1 1913.
O N E ID A . M adison C o u n ty , N. Y — Bonds Not Sold.— N o a w a rd w as
m ad e o n J u ly 15 o f tw o Issues o f b o n d s a ggre ga tin g $9,636 70.
• O N A W A , M onona C o u n ty . I o w a .—Bond Sale.— O n J u ly 9 $10 ,000 5 %
2 0 -y r. refu n d in g b on d s w ere a w a rd e d , rep orts sta te, t o C. F . C h ilds <5c C o.
of C h icago at 103.65— a basis o f a b o u t 4 .7 2 % .
O N T A R IO , C al.— Bond Election.— A n e le ctio n t o v o t e o n th e Issuance o f
$25,000 o r $30,000 s treet an d llre -d e p a rtm e n t b o n d s Is b e in g co n sid e re d ,
a c c o r d in g t o rep orts.
O R L E A N S C O U N T Y (P . O. A lb io n ), N. Y — Bond Offering.— G eo. W .
B e n n e tt, C o u n ty T r c a s ., w ill sell at p riv a te sale o n J u ly 24 $21,750 5 % road
b o n d s.
D e n o m . (1) $750, (21) $ 1,000.
D ate J u ly 10 1912. I n t. M . & S.
D ue M arch 10 1918.
O S A G E C IT Y SC H O O L D IS T R IC T , K a n .— Bond Sale.— A n issue o f
$25 ,000 4 ) 3 % 5-2 0 -yea r (scr.) c o u p . b ld g , b o n d s has been aw ard ed to the
O sage C o u n ty B ank a t p ar. D ate J u ly i 1912. In terest J . & J .
O S C E O L A C O U N T Y (P . O . K is s im m e e ), F la .— Bonds Proposed.— T h e
C o u n ty C om m issioners h a v e . It Is said, nam ed a co m m itte e to Investigate
the a d v is a b ility o f Issuing $50 0,00 0 road b o n d s.
O T T A W A C O U N T Y (P . O . P o rt C lin to n ), O h io .— No Bonds Sold.— W e
a rc ad vised th at th o rep orts sta tin g th a t $8,400 4 ^ % b o n d s h ad been
aw ard ed t o the S e cu rity S a v . B a n k & T ru st C o . o f T o le d o (V . 94, p . 1719)
are erron eou s.
O X N A R D , V en tu ra C o u n ty , C a l.— Bonds to Be Ilc-adcerltsed.— W e are
ad v ised th a t tho t w o Issues o f 5 % gold c o u p o n b o n d s, agg re g a tin g $130,000,
offered o n Ju n e 25 (V . 94, p . 1644) w ill be r e -a d v e rtise d .
P A G E SCH O OL D IS T R IC T . F resn o C o u n ty , C a l.— Bond Sale.— On J u ly 9
$11 ,000 6 % b ld g , b on d s w ere a w a rd e d , It is s ta te d , to E . I I . R o llin s &
Sons o f San F ra n cisco a t 104.27.
D e n o m . $500.
In t. an n . on J u ly 1.
D ue $500 yea rly J u ly 1 1914 to 1935 Incl.
P A L A C IO S IN D E P E N D E N T SC H O O L D IS T R IC T (P . O. P a la cio s ).
M a ta g ord a C o u n ty . T e x a s .— Bonds Registered.— O n J u ly 12 the $25,000
5 % 20- 10-y c a r (o p t.) sch o o l b o n d s sold in M arch (V . 94, p . 782) w ere regis
tered b y the S tate C om p tro lle r.
P A L O A L T O , Santa Clara C o u n ty , C a l .— Bonds to Be Taken by City .—•
W e are ad vised th a t as n o b ids w ere r e c e iv e d o n J u ly 8 fo r th e $20,000
4 0 -y ea r ligh t and w ater, $12 ,500 15-ycar p o w e r -p la n t an d $3,500 15-y e a r
o ll-p lp o line 5 % b on d s (V . 94, p. 1781) th a t th e y w ill b e pu rch ased fro m
surplus fu n d s In th e c it y tre a su ry.
P A N A , III.— Bond Election.— A n ele ctio n w ill be held A u g . 3, reports
s ta te, to v o te on th e q u estion o f Issuing $30 ,000 park b o n d s.
P E N F IE L I) T O W N S H IP R O A D D IS T R IC T , Lorain C o u n ty . O h io .—
Bond Sale.— On J u ly 12 th e $8,000 4 )3 % c o u p o n r o a d -lm p t. b o n d s (V . 94,
p. 1781) w ere aw arded to H a y d e n , M iller & C o. o f C levelan d a t 101.05 and
Interest. O th er b ids fo llo w :
S ea son good & M ayer, C l n - .$ 8 ,0 5 3 00 | S ta cy & B rau n, T o le d o ____ $8,010 50
N ew First N a t. B k ., C olu m . 8,043 7 5 1
P E R R Y T O W N S H IP , C olu m b ia n a C o u n ty , O h io.— Bond Sale.— On
J u ly 9 the $25 ,000 5 % 1-10-yr. (ser.) c o u p , r o a d -lm p t. b o n d s (V . 94,
p . 1781) w ere aw arded t o H a y d e n , M iller & C o . o f C leve. at 103.78 an d in t.,
It is s ta ted .
P H I L L IP S C O U N T Y (P . O. P h illin s b u rg ), K a n .— No Bonds Voted.—
W e are a dvised th a t th e re p o rts sta tin g th at this c o u n t y v o t e d $60,000
co u rt-h o u s e and Jail b on d s (V . 94, p. 1523) arc erron eou s.
P L Y M O U T H SC H O O L D IS T R IC T (P . O . P ly m o u (h ), L u zerne C o u n ty ,
P a .— Bond Sale.— 'O n J u ly 17 th e $42 ,500 5 % 16 1-3-year (average) taxfree b on d s (V . 95, p . 130) w ere aw arded to H arris. F o rb e s & C o . o f N . Y .
for $11,718 93 (105.244) and Int.— a basis o f a b o u t 4 .5 4 % . O th er bids
fo llo w :
G raham fc C.o., P h lla ------ $44,002 0 0 1 II. p . T a y lo r & C o _______ $43 ,375 65
E d w . V . K an e & C o .,P h lla 43,9 0 6 75 A . B . Leach & C o , N . Y . 42,963 00
M .M .F rcctn an < fcC o.,P h lla . 43,444 0 0 | H a n ch ctt B o n d C o ., C lilc . 4 2 ,9 2 5 00
P O O L E R . C hatham C o u n ty , Q a.— Bond Election.— A n e le ctio n will be
held A u g . l o 40 v o t * on th e p ro p o s itio n t o Issue $10,000 6 % w a te r-w o rk s
101
an d flr e -d e p a r tm e n t b o n d s.
In t. ann .
D ue $1,000 y e a r ly 1015 t o 1920,
Inclu sive, $2,000 in 1921 an d $2,000 In 1922.
PORTLAND, Ore.— Bond Sale.— O n J u ly 8 $99 ,675 65 6 % 10-year im p t.
b o n d s w ere a w a rd e d t o W . F . W h ite at 104, r e p o rts s ta te .
PORTSMOUTH. Ohio.— B o n d B ale.— O n J u ly 16 th e $14 ,000 4 % c o u p ,
llre -d e p t. b o n d s (V . 91. p . 1782) w ere aw ard ed t o th e S e c u r ity S a v . B ank
& T ru st C o . o f P o rts m o u th at 100 .40 & in t.
D u e $5,0 0 0 M ay 1 1917 and
1918 and $4,0 0 0 M ay 1 1919. O th er bid s fo llo w :
First N a t. B a n k , P o r t s m .$ 1 4 ,0 5 2 48) New' F irst N a t. B k ., C o l..$ 1 4 ,0 1 6 00
P r o v .S a v . B k . & Tr .C o . ,C ln . 14,022 4 0 1
PORTSMOUTH, Norfolk County, Va.— Bond Offering.— P ro p o sa ls w ill
b e r e ce iv e d . It Is s ta te d , until 12 m . A u g u s t 29 by L . P . S la te r, C ity Clerk,
fo r $27 5,00 0 4 )3 % 3 0 -y r . p a v in g an d s tr e e t.im p t. bonds. In te re st sem i
an n u a l. C ert, c h e c k fo r 2 % re q u ire d .
PREBLE COUNTY (P. O. Eaton), Ohio.— Bond Sale.— On July 13 $1,648
4 M % d itch -c o n s tr u c tio n b o n d s (4 issues) w ere aw a rd e d t o J . B . R u n y o n
and A . E . A sh ln g e r o f E a to n fo r $ 1 ,655 35, m ak in g th e p rice 1 00 .446 .
I n t.
J. & J.
D u e p a rt e v e r y six m o n th s to J u ly 13 1915.
RACINE COUNTY (P. O. Racine). W i s .— Bond Offering— P ro p o sa ls w ill
b e r e c e iv e d until 12 m . J u ly 29 b y J . J . P a tr ic k , C o u n ty T r c a s ., fo r th e
$165,000 4 % c o u p o n c o u r t-h o u s e -c o n s tr u c tio n b o n d s, $50 ,000 o f w h ich w ere
r e c e n tly o ffe re d w ith o u t success (V . 95, p . 6 8 ).
D e n o m . $1,0 0. D ate
J u ly 1 1912. I n t. J . & J . at th e C o u n ty T r c a s . o ffic e . C ertified c h e c k or
d ra ft fo r $5,000 Is re q u ir e d . O ffic ia l n o tice s ta te s th a t th e c o u n t y has
n e v e r d e fa u lte d .
READING, Hamilton County, Ohio.— Bond Sale.— On July 15 the $35 ,
000 4 % 3 0 -y r . (v illa g e 's p o rtio n ) sew erag e b o n d s (V . 94, p . 1720) w ere
aw arded to M a y e r, D e p p e & W a lte r o f C in. at 101.82 an d Int. O th er b id s
fo llo w :
D a v le s-B e rtra m C o ., C in _____$35,578 P r o v .S a v .B a n k & T r .C o .,C ln .$ 3 5 ,3 6 0
S ta c y <fc B rau n , T o l e d o _____ 35,566 G erm an N a t. B a n k , C in -------35,313
F ifth -T h ird N a t. B a n k , C ln . 35,4 9 7 B reed & H arrison , C ln ----------- 35,269
W eil, R o th & C o ., C in _______ 35,4 9 0 A tla s N a t. B a n k , C ln __________35,219
R e a d in g B a n k , R e a d in g ____ 35,462 A . E . A u b & C o ., C ln __________35,103
R E D L A K E F A L L S , R ed Lake C o u n ty , M in n .— Bonds Offered by Bankers.
— In an a d v e rtise m e n t o n a p r e ce d in g page E d w in W h ite & C o . o f S t. P a u l
are offerin g t o in vestors th e $ 2 5 ,0 0 0 6 % c o u p o n w a t e r w o r k s b o n d s p u r
ch ased b y them o n Ju n e 4, as stated in V . 94, p . 1644.
R E D O A K T O W N S H I P . N o. C a r o — Bond Offering Postponed.— T h e
offering o f the $10 ,000 3 0 -y e a r c o u p o n ro a d b o n d s w hich w as t o h a ve been
held J u ly 18 (V . 95, p . 130) has been p o s tp o n e d until A u g . 1.
R E N D V IL L E , P erry C o u n t y , O h io .— Bond Sale.— O n J u ly 9 th e $1,000
6 % c o u p . M ain S t. Im p t. b o n d s (V . 94, p . 1644) w ere aw a rd e d to M . S .
P o n d o f S o m e rse t at 100 .10, It Is s ta te d .
R IC H L A N D T O W N S H IP SC H O O L D IS T R IC T . L oga n C o u n ty . O h io .—
Bond Sale.— O n J u ly 8 the $4,000 4 % c o u p , ta x -fr e e b ld g , b o n d s (V . 95,
p . 68) w ere a w a rd ed . It Is sta te d , to B a rto . S c o t t & C o . o f C o lu m b u s at
102 .40. D u e $1,000 1920, 1922, 1924 an d 1926.
R O C H E S T E R , N. Y .— Note Offering.— P ro p o sa ls w ill b e rece iv e d until
2 p. m . J u ly 25 b y E . S . O sb orn e, C ity C o m p tro lle r, fo r $300,000 lo ca lim p t. an d $24 ,000 p a r k -im p t. n otes p a y a b le 8 m o n th s fro m A u g . 1 1912.
B idders to design ate rate o f in terest an d d e n o m in a tio n o f n o te s desired.
R O C K W O O D . S om erset C o u n ty . P a .— Bonds Voted.— A n e lection held
re ce n tly resulted In fa v o r o f the p r o p o s itio n t o Issue $5,000 5 % street
p a v in g b o n d s. T h e v o te w as 45 t o 2 5 .
R O S A L IA . W h itm a n C o u n ty , W a s h .— Bond Offering.— P rop osa ls w ill be
re ce iv e d until 10 a. m . A u g . 2 b y E . G . C h an d ler. T o w n T r e a s ., fo r $9,000
gold c o u p o n c ity -h a ll b o n d s at n o t e x c e e d in g 6 % Int. A u th ., page 261,
S ecs. 1-10, L a w s o f 1891.
D e n o m . $ 1 ,0 0 0 .
D a te A u g . 1 1912.
I n t.
F .& A . at o ffic e o f T o w n T reas. o r at W a s h in g to n fiscal a g e n c y In N ew Y o r k .
D ue A u g . 1 1927. C ertified c h e c k fo r 1 0 % o f b id , p a y a b le t o th e T o w n
T reasu rer, re q u ire d . P u rch a ser t o p a y a ccru e d Interest.
R U SH SC H O O L D IS T R IC T (P . O . L u ca s v illc ), S cio to C o u n ty , O h io .—
Bond Sale.— O n J u ly 13 th e $2,500 5 % 9 -1 3 -y r . (ser.) c o u p , ta x -fr e e b ld g ,
b o n d s (V . 95, p . 68) w ere aw arded t o th e O h io V a lle y B a n k o f P o rtsm ou th
a t 100.80 an d in t. A b id was also re c e iv e d fro m S e a s o n g o o d & M ayer
o f C in cin n a ti.
ST. A L B A N S , Franklin C o u n ty , V t — Bond Sale.— 1
T h e $12 ,000 4 )3 %
8 -1 0 -y ca r (serial) U . S . d e p o s it fu n d b o n d s, o ffe re d b u t n o t so ld o n M ay 27
(V . 94, p. 1524), w ere aw ard ed in Ju n e at p riva te sale t o th e B ellow s F ree
A c a d e m y F u n d fo r $12,244 (102.03) an d interest.
ST. C L A IR C O U N T Y SC H O O L D IS T R IC T (P . O . E a st S t. L o u is ), III.—
Bids R e f e c t e d .— A ll bids received on J u ly 1 fo r th e $30 ,0 0 0 s ch o o l b on d s
offered o n th a t d a y (V . 94, p . 1720) w ere r e je c te d .
ST. P A U L . M in n .— Bond Sale.— O n J u ly 15 $24,947 48 F ifth S t. im p t.
assess, b o n d s w ere aw arded, it is r e p o rte d , to E d w in W h ite & C o. o f S t.
Paul as 5 ) f s .
A n Issue o f $17,729 25 F ou rth S t. im p t. assess, b o n d s w as
also sold o n J u ly 15, the aw rd b e in g as fo llo w s: $10 ,000 to th e trustees
o f the G rand L o d g e , S on s o f H errm an , as 5s, $2,500 t o G e o . B . M a ttoon as
4s and $5,229 25 to E d w in W h ite & C o. as 5 A s.
S A N D U S K Y , Erie C o u n ty , O h io .— Bond B ale.— T h e $10 0,00 0 4 % co u p o n
ta x -fre e filtr a tio n -p la n t-lm p t. b o n d s offe re d on J u ly 10 (V . 94, p . 1720)
were sold t o S ta c y & B rau n o f T o le d o at 100.555 an d Int. O th er bids fo llo w :
S e a s o n g o o d & M ayer, C i n . .$ 1 0 0 ,1 8 0 C . E . D enison & C o ., C le v -.$ 1 0 0 ,2 7 2
W ell, R o th & C o ., C in e ........ 100,350 B a rto , S c o tt & C o ., C o l u m .. 100,021
H a y d e n , M iller & C o ., C le v . 100,310 T lllo ts o n & W o lc o t t C o .,C le v .l0 0 ,0 7 7
O tis & C o ., C le v e la n d ---------- 100,150 F ifth -T h ir d N a t. B k .. C i n e .*100,205
M ayer, D e p p e & W a lte r,
l$1
C itizen s’ B a n k . C o .. C o m m ’ l
C i n c i n n a t i ............................. *100,370
N a t. B k . an d T h ird N at.
E x c h . B a n k , S a n d u s k y .. 100,200
* R e c e iv e d a fte r tim e set fo r op e n in g b id s.
A ll bidders offered a ccru ed Int. In a d d itio n t o their b id s .
Bond Offering.— P roposals will be re ce ive d until 12 m . A u g . 15 b y F red .
W . B auer, C ltv A u d ., fo r th e fo llo w in g 4 % im p ro v e m e n t b o n d s:
$10,000 T a y lo r S t. im p t. b o n d s.
D ue $1,000 y e a rly o n A u g . 1 fro m 1913
t o 1922 In clu sive.
3,500 H u ron A v e . Im pt. b o n d s.
D u e $500 y e a rly om A u g . 1 fro m 1913
t o 1919 Inclusive.
D e n o m . $500. D ate A u g . 1 1912. I n t. F . & A . a t o ffic e o f the C ity
T re a s. S enarate bids m ust be m ad e fo r each Issue an d each b id m ust be
a c co m p a n ie d b y a c e r t, c h e ck fo r $500, p a y a b le t o II. A . W icsle r, C ity T r e a s ,
SAN FRANCISCO, Cal.— Bond Award.— T h e $ 5 ,3 0 0 ,0 0 0 5 % serial b on d s
offered fo r sale o n J u ly 1 w ere aw ard ed t o th e s y n d ic a te c o m p o s e d o f
N . W . H a lse y & C o ., A . B . L each & C o ., W a ts o n & P ressprlch , B on d &
G o o d w in , H a rv e y Fisk & S on s, B la k e B ro s. & C o . an d A d a m s & C o. o f
N . Y . at 104.572 (V . 95, p . 6 9 ).
SAN LEANDRO, Cal.— Bond Election Proposed.— P apers sta te th a t the
B oa rd o f T o w n Trustees has been p e titio n e d to call an e le ctio n to v o t e on
the qu estion o f Issuing $35 ,000 s tr e e t-lm p t., $15 ,0 0 0 city -h a ll, $5,000 flresta tlo n and $5,000 fire-alarm -system b o n d s.
SENATOBIA CREEK DRAINAGE DISTRICT (P. O. Scnatabia), Tate
County, Miss.—Bond Offering.— P rop osa ls w ill b e re ce iv e d u n til A u g . 1 b y
W . E . S till, S e c ., fo r $10,000 5 % 2 0 -y r . c o u p , b o n d s.
D a te A u g . 1 1912.
SHAKER HEIGHTS VILLAGE SCHOOL DISTRICT. Cuyahoga County,
O h io .— Bond Offering.— P rop osa ls will be rece iv e d until 12 m . A u g . 9 b y
C. A . P a lm er, Clerk B d . o f E d ., at th e First N a t. B a nk, C levelan d, fo r
$60,000 4 * 3 % c o u p , s c h o o l-b id g . b o n d s. A u tb * -S cc 9 . 2294, 2295, 7626,
7627, 7629 and 7630, G en . C od e.
D e n o m . $ 1 ,0 0 0 . D a te " d a y o f s a le ."
In t. A . A O . at o ffice o f V ll. T re a s. D ue $3,000 y e a rly o n O c t . 1 fro m 1916
to 1935 in cl. C ert, ch e ck o n a ban k o th e r th an th e o n e m ak in g th e b id , for
10% o f b on d s bid fo r, p a y a b le to the D istrict T re a s ., r e q u ire d . B on d s
t o be d eliv ered w ith in 10 d a y s fro m tim e o f a w a rd .
P u rch a ser t o p a y
a ccru ed Interest.
SHALER TOWNSHIP, A lle g h e n y County, P a .— Description of Bonds.—
T h e $30,000 4 'A°o sh co o l b o n d s aw ard ed on M ay 31 t o J . S . & W . S. K uhn
I n c ., o f P ittsbu rgh (V . 94, p . 172 0), arc In d e n o m in a tio n s o f $1,000 e a c h .
D ate Jun e 1 1912. In t. J . & D .
D ue seria lly fro m 1920 t o 1938. B on d s
arc t a x -e x e m p t.
SIDNEY. C h eyenne C o u n ty , N eb.— Bond Sale.— T h e I I . G. S p eer & Sons
C o. o f C h icago has p u rchased at par $ 22 ,000 5 % sew er b o n d s . D e n o m .
$50 0. D ate M ay 1 1912.
In t. an n . in J a n . D u e 20 years, o p tio n a l a fter
5 yea rs. V . 94, p. 1524.
SILVER SPRINGS. Wyoming County, N. Y.— Bond Bala.— On July 11
$3,000 reg. w a ter-w ork s b on d s w ere aw a rd e d t o A d a m s <5* G o. o f N . Y . tor
$3,004 (100.133) and Int. fo r 4 .8 0 s. O th er b id s follow:
192
THE CHRONICLE
J o h n J . H a r t, A lb a n y ______________________________________ 100.03 fo r 4.80s
D ou gla s F en w ick & C o .. N . Y ________________ ______________________ 101 fo r 5s
S ilver S prin gs N a tion a l B a n k , S ilver S p r in g s_____ ______________ 100 fo r 5s
A u th o r it y v o t e o f 34 t o 0 a t an e le ctio n held Ju n e 18. D e n o m . $ 20 0.
D a te A u g . 1 191 2. I n t . a n n u a lly a t the S ilver S p rin gs N a t. B a n k . D u e
$200 y e a r ly A u g . 1 1917 to 1931, In clu sive.
S K I A T O O K , T u lsa C o u n ty , O k la .— Bond Sale.— W o are a d v is e d th at
$ 9 ,0 0 0 sew er and $3,000 e le ctr ic -lig h t b o n d s h a v e b e e n s o ld .
S O L V A Y , O n on d a g a C o u n t y , N. Y .— Bond Offering.— P ro p o sa ls w ill be
r e c e iv e d u n til 8 p . m . J u ly 30 b y F . L . M arsh, P re s., fo r $ 1 4 8,00 0 s tre e tlm p t. an d m u n icip a l b ld g , b on d s a t n o t e x c e e d in g 5 % in t.
D e n o m . $ 1 ,0 0 0 .
D a te A u g . 1 1912.
D u e $ 4 ,0 0 0 F e b . 1 1917 an d $ 6 ,000 y r ly . o n A u g . 1
fro m 1918 t o 1941 Incl. C ert, c h e ck fo r $5,000 if p r o p o s a l Is fo r entire Issue
an d if fo r less, then fo r 5 % o f b o n d s bid fo r, p a y a b le t o W . H . N o rth , T r e a s .,
req u ir e d .
B on d s to be d e liv e re d w ith in lO .d ays fro m tim e o f a w a rd .
,j
^ S O M E R V I L L E SC H O O L D IS T R I C T (P . O . S o m e rv ille ), R urieson
C o u n ty , 'l e x . — Bond Election.— R e p o rts sta te th a t an e lection held J u ly 9
resu lted in fa v o r o f th e p r o p o s itio n t o issue $ 1 0 ,0 0 0 a d d itio n a l h ig h -sch o o lb u lld ln g b o n d s.
[VOL. LXXXX'V.
T A M P A , H illsb o ro C o u n ty , F la .— Bond Election.— A n e le ctio n w ill be
h eld A u g . 20 to v o t e on th e p ro p o s itio n to issue $ 1 ,7 0 0 ,0 0 0 5 % 20-50-yjr.
(o p t.) c ity -h a ll, p a v in g a n d sew erag e b o n d s.
T A R R A N T C O U N T Y C O M M O N SC H O O L D IS T R IC T NO. 9 4 . T e x a s —
Bonds Registered.— O n J u ly 8, $3 5,000 5 % 2 0 -4 0 -y r . (o p t .) b o n d s w ere
registered b y th e S ta te C o m p tr o lle r .
T A Y L O R , L a ck a w a n n a C o u n t y , P a .— Bonds Offered by Bankers.— C. H .
V c n n cr & C o . o f N . Y . are o ffe rin g to in v e s to rs $30 ,000 4 )<;% 3 0 -y e a r c o u p ,
ta x -fre e b o n d s.
D e n o m . $ 1 ,0 0 0 . D a te J u ly 1 1912. I n t. J . & J .
B ond,
d e b t, $ 6 4 ,0 0 0 . A ssessed v a lu a tio n 1912, $ 7 ,4 2 2 ,7 4 0 .
T I F F I N , S eneca C o u n ty , O h io .— Bonds Authorised.— O rd in a n ces were
passed on J u ly 8 p r o v id in g fo r the Issuance o f the fo llo w in g 4 % c o u p , bon d s:
$6,000 A n n S t . im p t. b o n d s.
D e n o m . (5) $800 an d (2) $ 1 ,0 0 0 .
D u e one
b o n d y e a rly on S e p t. 1 fro m 1913 to 1919, in clu s iv e .
7.5 0 0 L ib e r ty S t. Im pt. b o n d s.
D e n o m . (1) $500 an d (7) $ 1 ,0 0 0 .
D ue
o n e b o n d y e a rly on S e p t. 1 fro m 1913 t o 1918, In clu sive, an d tw o
b o n d s on S e p t. 1 1919.
D a te S e p t. 1 1912. In te re st M . & S .
TOLEDO, Ohio.— Bonds Authorized.— T h e Council approved an ordinance
on J u ly 7, It Is stated, providing for the issuance of $16 5 ,0 0 0 street and
SO U TH B E T H L E H E M , N o rth a m p to n C o u n ty . P a .— Bond Sale.— On
J u ly 15 th e $42 ,000 4
15 -3 0 -yea r (o p t .) stre e t-Im p t. b on d s (V . 9 4 ,
p . 1782) w ere aw ard ed to C h as. C . H a rriso n J r . & C o . o f P h ilad elp h ia at
1 0 3 .5 5 . O th er bid s fo llo w :
J . S . & W . S . K u h n , I n c .,
I H a rris,F o rb e s & C o .,N .Y .$ 4 3 ,2 2 2 62
P i t t s b u r g h _____________ $43 ,3 7 7 00 C .E .D e n is o n & C o .,C le v ._ 43,168 60
L iv in g s to n & C o ., N . Y _ _ 4 3 ,3 3 7 00 K .P .W llb u rT r .C o .,S .B c th _ 42,840 00
H e y l & C o ., P h ila d e lp h ia . 4 3 ,289 40 [O tis & C o ., C le ve la n d ____ 42,635 00
SiaiDcnom. $500 an d $ 1 ,0 0 0 .
D a te O c t . 1 1912.
In terest A . & O .
sewer improvement (city’s portion) bonds.
T O W A N D A , P a .— Bonds Voted.— A n e le ctio n h eld J u ly 6 re su lted in a
S P O K A N E C O U N T Y SC H O O L D IS T R IC T NO. 7 8 . W a s h .— Bond Sale.—
O n J u ly 12 th e S ta te o f W a s h in g to n w as aw ard ed an issue o f $5,0 0 0 1-10-yr
(o p t .) s c h o o l-b ld g , b o n d s at p ar fo r 5 M s . A b id o f par fo r 5 H s w ith n o
o p t io n was re ce iv e d fro m the U n ion T ru s t & S a v in gs B a n k o f S p o k a n e
D e n o m . $50 0. • D a te A u g . 1 1912. • I n t . a n n u a l.
Ju n e 29 the $1,500 6 % 1 -1 5 -y e a r (serial) c o u p o n s c h o o l b o n d s d a te d J u ly 1
1912 (V . 94, p . 1721) w ere a w a r d e d t o th e F irst N a t. B a n k o f B a rn esville
fo r $ 1 ,5 5 0 , m a k in g the price 1 0 3 .3 3 .
U T IC A , N. Y .— Bond Sale.— O n J u ly 18 th e tw o issues o f 4 lA % reg.
ta x -fre e b o n d s (V . 95, p . 130) w ere a w a rd e d as follovn s
$95 ,000 1-19-year (serial) p a rk b o n d s t o Ferris & W h ite o f N . Y . for
$95,422 (100.444) an d in te re s t.
12.500 1-20-year (serial) nurses’ p a v ilio n b o n d s t o P a rson , S o n & C o. ofN ew Y o r k a t 100.032 an d in te re st.
A b id o f par w as also rece iv e d f o r th e $12 ,5 0 0 Issue fro m Ferris & W h ite
o f N ew Y o r k . T h e bids fo r the $ 9 5 ,0 0 0 issue w ere as fo llo w s:
Ferris & W h ite, N . Y ____ $95,422 00! K is s e l,K in n ic u t t & C o .,N .Y .$ 9 5 ,123 00
Jam es It. M agoffin , N . Y . 95,247 0 0 1It. M . G rant & C o ., N . Y . 95,074 10
P a rson , S on & Co., N . Y _ . 95,1 4 7 251 W m . A . R e a d & C o ., N .Y . 95,028 50
R h o a d e s & C o ., N . Y ____ 95,129 20] F o s te r & A d a m s , N . Y ___ 95,019 95
V E N IC E , L o s A n g e le s C o u n ty , C a l.— Bond Sale.— O n J u ly 8 th e $23 ,000
1 -2 3 -y r . (serial) g a rb a g e -in cin e ra tin g an d $ 2 0 ,0 0 0 1 -4 0 -y r. (serial) o u t fa ll
sew er 5 % b o n d s w ere a w a rd e d to T o r r a n c e , M arshall & C o . o f L o s A n geles
fo r $43 ,800 (101.86) a n d .in t. T h e re w ere n o o th e r bid d e rs.
v o t e o f 522 " f o r ” to 228 " a g a in s t ” th e p r o p o s itio n to issu e s tr e c t -im p t .
b o n d s, re p o rts s ta te .
T U L S A , T u lsa C o u n ty , O k la .— Bonds Voted.— T h e e le ctio n h eld J u ly 7
re su lte d , it is s ta te d , In fa v o r o f the p r o p o s it io n t o issuo $15 0,00 0 sch oolb ld g . b on d s ( V . 95, p . 6 9 ).
TUPPERS
S P R I N O F I E L D , O rccn e C o u n t y , M o .— Bond Sale.— T h e $40 ,000 6 %
cu rren t-ex p en se b o n d s, d u e F e b . 1 1913 an d au th o riz e d Jun e 25 (V . 95 p
6 9 )iw e r e a w a rd ed t o the S ta te S a v in gs B a n k , re p o rts s ta te .
V' S P R I N G F I E L D SC H O O L D IS T R IC T , S an gam on C o u n ty , III.— Bond
S a le .— T h e M erca n tile T r u s t C o . o f S t. L o u is w as aw ard ed on Ju n e 1 a t
100 .215 and in t. th e $ 1 5 0,00 0 4 J 4 % b u ild in g b o n d s offered o n M ay 27
(V . 94, p . 1 4 6 3 ). D e n o m . $500 an d $ 1 ,0 0 0 .
D ate Jun e 1 1912. In t
J. & D.
D u e $ 7 ,500 y e a rly fo r 20 years.
S U F F O L K , V a .— Bond Offering.— F u rth e r details aro a t han d rela tive to
th e o fferin g o n J u ly 25 o f the $ 40 ,000 5 % c o u p o n (w ith p rivilege o f registra
tion ) s treet fu n d in g and s c h o o l-im p t . b o n d s ( V . 95, p . 1 3 0 ). P rop osa ls fo r
these b o n d s w ill be re ce iv e d u n til 3 p . m . o n th a t d a y b y J . B . P ln n or,
S u p t. D e p t , o f F in .
D e n o m . $ 50 0.
D ate A u g . 1 1912. I n t. (to run fro m
d a te o f d e liv e ry ) F . & A . a t o ffic e o f C ity T re a s. D u e A u g . 1 1942. C ert,
c h e c k fo r 5 % o f b id , p a y a b le to the C ity T r e a s ., r e q u ire d .
The official notice of this bond offering will be found among the advertise
ments elsewhere in this Department.
T A L L A D E G A , T a lla d e g a C o u n t y , A la .— Bonds Voted.— T h e e lection
PLAINS
SCHOOL
DISTRICT,
Ohio.— Bond Sale.— On
V IC K S B U R G , W arren C o u n t y , M is s .— Bond Sale.— O n J u ly 15
$ 50 ,000 4 , 4 % 18-year (average) c o u p o n bu ild in g b o n d s (V . 95, p . 69)
aw arded to S e a so n g o o d & M ayer o f C in cin n ati a t par an d in t..le s s $93
e xp en ses— a basis o f a b o u t 4 . 6 7 % .
O th e r b ids fo llo w :
B reed & H arrison, C in .............$48,8801 F ifth -T h ir d N a t. B a n k , C in . . $ 4 8 , ,'
W e ll, R o th & C o ., C incinnati 4 8 ,8 7 5 [ P r o v id e n t S av in gs B a n k &
M ayer, D ep p e & W a lte r, C in . 4 8 ,8 0 0 1 T ru s t C o ., C in cin n a ti--------- 48,000
h eld J u ly 8 resu lted In fa v o r o f th e p r o p o s itio n to issue $25,000 5 % 30-year
p a v in g & s tr c e t-lm p t. b o n d s (V . 9 5 , p . 6 9 ). T h e v o t e was 168 t o 9 9 .
W ADSW ORTH. Medina County, Ohio.— Bond Offering.— I’ roposats will
be re ce iv e d until 12 m . J u ly 23 b y H . 13. H le rs, V ll. C lerk, fo r $ 5 ,0 0 0 5 %
NEW LOANS.
NEW LOANS.
INVESTMENTS.
$ 1 5 0 ,0 0 0
$ 2 5 ,0 0 0
$ 1 2 0 ,0 0 0
IREDELL COUNTY, NORTHCAROLINA, CITY OF HOBOKEN, N. J., Wyandotte County, Kansas,
5%
RO AD
IM P R O V E M E N T
BON DS.
S ealed b ids will be rece iv e d b y th e u n d ersign ed,
a t th e o ffic e o f the B oa rd o f C om m issioners o f
Ired ell C o u n ty , in the C ity o f S ta te sv ille , N . C .,
u n til 10:00 a . m . M O N D A Y . J U L Y 2 2 N D . 1912,
fo r O ne H u n d red and F ifty T h o u s a n d ($ 1 5 0 ,
000 00) D ollars series *‘ B ” 5 % R o a d Im p r o v e m e n t
B o n d s , in d en om in a tio n s o f $1,000 each and
d a te d A u g u s t 1, 1912, an d interest p a y a b le sem i
a n n u a lly , both p rin cipa l an d Interest p a y a b le at
such p la ce as the B oa rd m a y hereafter de te rm in e ,
p rin cipa l d u e as follow s:
F IF T Y
TH O USAN D
($50,000)
D OLLARS
due an d p a y a b le in T W E N T Y Y ea rs fro m d a te ,
bein g A u g u s t 1, 1932.
ONE
H U N DRED TH OUSAN D
($100,000)
D ollars d u e an d p a y a b le in T h ir t y years fro m
d a te o f Issue, b ein g A u g u s t 1, 1942.
T h ese b on d s aro Issued b y a u th o r ity o f an A c t
o f th e G eneral A s s em b ly o f N orth C arolina, ra ti
fied M arch 3 d , 1911 .and an e lection held u nd er and
b y a u th o r ity o f said A c t on M ay 9 th , 1911, w hich
w as d u ly ca rried .
T h ere Is n o litiga tio n p e n d in g or th reaten ed
a ffectin g this issue. A ssessed valu e o f p ro p e rty
In th e C o u n ty fo r taxes In 1911 w as $ 1 2 ,2 3 0 ,0 0 0 .
T o ta l b o n d e d In debtedness Inclu din g this issue
$ 29 0,00 0: ta x rate for all purposes 93 ce n ts on
$100 p r o p e r ty . N o floatin g Indebtedness and
ta x rate w ill n o t h a v e to bo Increased to p a y int
erest on this issue an d cre a te a sin k in g fu n d to
p a y o ff sam e at m a tu rity , as the present ta x rate
is s u ffic ie n t. P o p u la tio n o f c o u n t y . Census 1910,
3 5 ,3 1 4 .
C ertified c h e c k o r ban k d r a ft fo r tw o p e r 'c e n t’ o f
p ar v a lu e o f b on d s m ust a c c o m p a n y all bids,
sam e to bo m ad e p a y a b le t o th e T reasu rer o f
Iredffll C o u n ty .
N o bids will be co n sid e re d fo r
less than par and a ccru e d Interest.
T h e C om m issioners reserve tho rig h t to a c c e p t
o r r e je c t a n y and all b id s .
F u ll In form ation will be furnish ed u p o n a p p li
c a tio n .
N . B . M IL L S , C hairm an
•
B oa rd C om m issioners Iredell C o .
• J . E . B O Y D , Clerk to the B o a rd .
P A R K
IM P R O V E M E N T B O N D S
P u b lic n o tice is h e re b y given th a t th e M a y o r
and C ouncil o f the C ity o f H o b o k e n w ill r e ce iv e
pro p o sa ls on
:i.
It. ^ i
W EDNESDAY ^AFTERNOON ^ J U L Y : 24,
1912, a t 4 o ’c lo c k , fo r the purch ase o f tw e n ty -fiv e
th ou san d dolla rs ($25,000) o f P ark Im p r o v e m e n t
B o n d s , bearing interest a t th e rate o f fo u r per
c e n t per a n n u m , p a y a b le A u g u s t 1, 1937, und er
th o provision s o f an A c t o f the L egislatu re o f the
S ta te o f N ew Jersey, e n title d " A n A c t to enab le
cities o f the se co n d class o f this S ta te t o Im prove
p u b lic p a rk s ,” a p p ro v e d M arch tw e n ty -e ig h th ,
nineteen h u n d red and fo u r, an d b y an A c t o f
th e L egislatu re o f the S ta te o f N ew Jersey en
title d “ A n A c t to am end an A c t en title d ‘ A n A c t
to enable cities o f the s e co n d class o f this S tate
to im p ro v e pu b lic p a r k s ,' a p p ro v e d
Alarch
tw e n ty -e ig h th , one th ou san d nine h u n d re d an d
f o u r ,” w hich said a m e n d a to ry A c t w as a p p ro v e d
M arch thirteen th , n ineteen h u n d red anil tw e lv e ;
said bo^ids to be c o u p o n o r registered a t the
o p tio n o f the p u rchaser.
A ll p rop osals to be add ressed to the M a y o r
an d C ou ncil o f the C ity o f H o b o k e n and e n d o rs e d
“ P ro p o sa ls fo r Park Im p r o v e m e n t B o n d s ,” an d
h a n d e d to the Clerk o f the B oa rd In o p e n session
in th o regular order o f business rela tin g to sealed
p r o p o sa ls.
T h e M ayor and C ou n cil reserve tho rig h t to
r e je c t a n y o r all bids If d eem ed in the in terest
o f the c it y so to d o .
B y ord e r o f the C ou n cil.
JA M E S II. L O N D R IG A N .
C ity Clerk.
Adrian H. Muller & Son,
A U C T IO N E E R S ,
Regular Weekly Sales
OF
F. W M . K R A F T
LAW YER.
Specializing in Examination of
Municipal and Corporation Bonds
103 7 -9 F IR S T N A T IO N A L B A N K B L D G ..
C H IC A G O , IL L .
EVERY WEDNESDAY
O fflca, N o. 65 W I L L I A M S T R E E T .
C orner Pine Street.
BONDS
1885.
H. C. SPEER & SONS CO.
L IS T
ON A P P L IC A T IO N
First Nat. Bank Bldg., Chicago
SEASONGOOD & M A Y E R
SCH OOL,
I n g a lls B u ild in g
COUNTY
AN D
M U N IC IP A L
BONDS
BONDS
•S ealed bid s w ill b e re ce iv e d b y th e B oa rd o l
C o u n ty C om m issioners o f W y a n d o tt e C o u n ty .
K ansas, at tho o ffic e o f the u n d ersign ed C ou n ty
Clerk, in K ansas C ity , K ansas, until 2 o ’c lo c k
P . M „ u p o n T H U R S D A Y , A U G U S T 8. 191 2.
a t w hich tim e said bids will be • p e n e d , to purchase
$120,000 o f c o u n ty B ridge b o n d s.
W o o d & O a k le y ’s op in io n as to th o le g a lity o l
b o n d s w ill be fu rn ish ed b y C o u n ty .
E a ch b id d e r will be requ ired t o d e p o s it $5,000
as e v id e n ce o f g o o d fa ith .
W itn ess m y han d and o fficia l seal o f th e C ou n ty ,
this 8th d a y o f J u ly , A . D . 1912.
[Seal.]
F R A N K M. HOLCOMB,
C o u n ty C lerk.
HODENPYL, HARDY & CO.
14 W a l l S t . , N e w Y o r k
R a ilr o a d , S tr e e t R y ., G a s & E le c . L ig h t
SECURITIES
BLODGET & CO.
BONDS
S T A T E S T R E E T , BOSTON
00
80 P IN E S T R E E T , N E W Y O R K
STATE,
C IT Y
&
R A IL R O A D
BONDS
STOCKS and BONDS
[ M U N IC IP A L A N D R A IL R O A D
E S T A B L IS H E D
B R ID G E
C IN C IN N A T I
NATIONAL LIGHT,
HEAT &. POWER COMPANY
GUARANTEED
BONDS
All issues
A. H. Bickmore & Co.,
BANKERS
30 P in o S t r e e t ,
New Y o rk
July 20 1912.]
THE CHRONICLE
c o u p . general d e fic ie n c y ta x -fr e e b o n d s . A u th . S e c. 3 03 1, 3040 an d 305 3,
G en . C o d e .
D e n o m . $ 5 0 0 . D ate Jun e 1 1012. I n t . M . & S . a t o ffic e o f
VU . T r c a s . D u e p a rt y e a r ly o n S e p t. 1 fro m 1015 t o 1024 ln cl. C ert, c h e c k
fo r 1 0 % , p a y a b le to th e V ll. T r e a s ., r e q u ire d .
WARREN COUNTY (P. O. Vicksburg), Miss.—-B ond Sale.— O n J u ly 1
th e $ 3 ,000 5 % b rid g e an d ro a d bon d s (V . 04, p . 1782) w ere a w a rd ed t o the
C ity S av in gs & T ru st C o . a t 102.60 an d ln t. O th er b id s fo llo w :
H o m e S av in gs B a n k _________ $3,0761 A m e r ic a n B k . & T r . C o . . .$ 3 ,0 6 6 60
A b id w as also receiv e d fro m th e P e o p le ’s S a v in gs B a n k & L o a n C o .
D e n o m in a tio n $ 1 ,0 0 0 . In terest an n u a lly In J u ly .
W A S H IN G T O N .— Bond Offering.— F u rth e r d etails are a t h a n d re la tive
t o tlie offerin g on or be fo re S e p t. 1 o f th e $ 0 2 0,00 0 4 % c o u p o n re fu n d in g
an d T e m p le o f J u stice bon d s ( V . 0 5 , p . 6 0 ) . P ro p o sa ls w ill be re ce iv e d b y
th e S ecreta ry o f the S ta te C a pital C o m m issio n . D e n o m . $ 1 ,0 0 0 . I n t.
an n u a lly a t th e S ta te T re a s . o ffic e .
B o n d s are e x e m p t fro m t a x a tio n .
D u e 20 years, o p tio n a l a t a n y 5 -y c a r p e r io d .
WASHINGTON TOWNSHIP SCHOOL DISTRICT (P. O. Eaton), Ohio.
— Bond Offering.— P ro p o sa ls w ill b e r e ce iv e d A u g . 3 fo r $2,000 5 % 5-year
b on d s, It Is s ta te d .
WAYNESBORO SCHOOL DISTRICT (P. O. Waynesboro), Franklin
County, Pa.— Bond Award Deferred.— T h e aw ard o f the $40,000 4 H %
1 5 -30-year (o p t .) c o u p o n b u ildin g b o n d s offered o n J u ly 15 (V . 05, p . 60)
has been d eferred .
W E I S E R , Id a h o .— Bond Sale.— O n J u ly 12 this c it y a w a rd ed an Issue o f
$ 11 3,50 0 5 'A% 1 0 -2 0 -y r. (o p t .) v a r lo u s -lm p t. b o n d s t o E . H . R o llin s &
Sons and W o o d in , M cN e a r & M o o re , b o th o f C h ica g o , a t th eir Joint b id o f
$135,542 50 (101.53) an d ln t. a n d b la n k b o n d s. T h ere w as a to ta l o f nine
bids In all r e c e iv e d fo r th e b o n d s.
D e n o m . $100, $500 an d $ 1 ,0 0 0 . D ate
J u ly 1 1012.
In teres t J . & J.
WELLSTON, J a c k s o n County, O h io .— B o n d Sale.— On J u ly 8 th e $4,450
4 > f % refu n d in g bon d s (V . 04, p . 1721) w ere aw arded t o th e F irst N a t.
B ank o f W ellston fo r $4,462 (100.26) an d in t. O th er b ld s 'fo llo w :
W e ll, R o th & C o ., C ln ____ $ 4 ,457 2 5 lS t a c y & B ra u a , T o l e d o _____$4,451 33
N ew F irst N a t. B k ., C o lu m . 4 ,455 S O JP rovldcnt S av in gs B a n k &
S ea son g ood & M a yer, C ln _ . 4,455 0 0 1 T r u s t C o ., C in cin n a ti____ 4 ,4 5 0 67
In terest Ju n e an d D e ce m b e r.
WELLSVILLE, O h io .—-Bonds Defeated.— A n e le ctio n held J u ly 16 re
sulted In d efea t o f the p ro p o sitio n to Issue $6 0 ,0 0 0 cle c tr lc-llg h t b o n d s.
T h e v o t e w as 402 t o 277, a tw o -th ird s m a jo rity requ ired t o a u th orize, It Is
sta ted .
WHITEHALL. Washington County, N. Y.— Bond Offering.— P rop osals
w ill be r e ceiv ed until 8 p . m . J u ly 24 b y C . E . H o ld e n , V illa ge P resid en t, fo r
$ 15 ,000 5 % r e g . flre-d ep a rtm en t re o rga n iza tio n ta x -fr e e b o n d s . D e n o m .
$10 0.
D ate J u ly 1 1012. I n t . an n u a lly b y ch e ck t o registered h o ld e r.
D u e $ 1 ,0 0 0 y e a r ly fo r 15 ye a rs. N o d e p o s it req u ired .
’ VICOMICO COUNTY (P. O. Salisbury), Md.— Bond Sale.— O n J u ly 16
>20,000 4 Vi% c o u p o n s c h o o l-b ld g , b o n d s (V . 05, p . 131) w ere aw ard ed
«j
'.Ison, C o o k & C o. an d B a k er, W a tts & C o . o f B a ltim o re Join tly .
'1NDBER SCHOOL DISTRICT (P. O. Windbcr), Somerset County, Pa.
md Offering.— P rop osals w ill be re c e iv e d until 8 p . m . A u g . 1 b y J . A .
9 -rtm a n , S e c ., fo r $50 ,000 4 )4 % co u p o n b u ildin g ta x -fre e b o n d s.
D enom .
$ 50 0. D a te A u g . 1 1012. I n t . F . & A . a t W ln d b e r . D u e $10 ,000 e v e r y
'5 years beg in n in g A u g . 1 1022. C ert, c h e c k fo r 1 % , p a y a b le to th e T r e a s .,
r eq u ired .
B o n d e d d e b t , ln c l. this Issue, $ 6 8 ,0 0 0 . A ssessed v a lu a tio n
1012, $ 1 ,0 1 3 ,3 0 0 .
NEW
WINNEMUCCA, Humboldt County. N e v.— Bond Election.— R ep w rta
sta te th a t an e le ctio n w ill be h eld A u g . 15 t o su b m it t o the v o te rs a p r o p o s i
tio n t o Issue $18 0 ,0 0 0 b o n d s fo r th e p u rch ase o f th e p la n t o f th e W in n e m u c c a W a te r & L ig h t C o .
WINNSBORO, W ood County, Tex.— Bonds Voted.— A n e le ction h eld
J u ly 11 resu lted In f a v o r o f the p r o p o s itio n t o Issue $2 3 ,0 0 0 w a te r- works
b o n d s . T h e v o t e w as 118 t o 4 3 , a c c o r d in g t o re p o r ts .
•WOLCOTT, Wayne County, N. Y.—Bonds Offered by Bankers.— D ou gla s
F e n w ic k & C o . o f N ew Y o r k C ity are offerin g t o in ve sto rs $ 45 ,000 4 ) 4 %
r e g . w a te r-w o rk s -lm p t. b o n d s. D e n o m . $500.
D ate J u ly 15 1012
I n t.
J . & J . t o registered h olders In N . Y . e x ch a n g e . D u e $ 1,500 y e a rly J u ly 15
1013 t o 1042, ln c l. B o n d d e b t (ln cl. this Issue o f w ater b o n d s ), $ 5 1 ,0 0 0 .
A ssessed v a lu a tio n $5 6 4 ,0 5 0 . A c tu a l va lu e (c s t .), “ o v e r $ 1 ,2 5 0 ,0 0 0 .”
WRIGHT COUNTY (P. O. Clarion), Iowa.— Bond Sales.— G e o . M.
B e c h te l & C o . o f D a v e n p o r t h a v e been a w a rd ed $ 2,000 6 % D ra in a ge D lst.
N o . 62 b o n d s .
D ate M ay 1 1012. I n t . M . & N .
D u e $200 M ay 1 1013
a n d $300 y e a rly M ay 1 1014 t o 1022, In clu sive.
T h e I n v e s to r s ’ Secu rities C o . o f D es M oines has also b een a w a rd e d $1,060
D is tr ic t N o . 66 an d $ 2 ,3 4 5 D istrict N o . 67 6 % d rain age b o n d s .
D ate
A u g . 1 1012. I n t . M . & N .
D ue p a rt y e a r ly fro m M ay 1 1016 t o 1022.
‘ WYANDOT COUNTY (P. O . Upper Sandusky), O h io .— Bond Offering.—
P ro p o sa ls w ill be re c e iv e d u n til 12 m . J u ly 31 b y P e te r F ran k J r ., C ou n ty
A u d ., fo r $ 4 ,000 5 % ro a d b o n d s . A u th . S e c . 6026 t o 605 6, G eneral C od e.
D e n o m . $ 20 0. D a te J u ly 1 1912.
I n t. J . & J . a t o ffic e o f C o u n ty T rea s.
D u e $400 y e a rly o n J a n . 1 fro m 1014 t o 1023, ln cl. C ert, c h e c k (or cash)
fo r $200, p a y a b le t o th e C o u n ty T reasu rer, r e q u ire d .
D e liv e r y t o be
w ith in liv e d a y s fro m d a te o f sale.
YAKIA1A COUNTY (P. O. North Yakima), Wash.— Bond Election.—
K e p o r ts state th a t an e le ctio n w ill be h eld s h o r tly to vote o n th e issu ance
o f $ 1 ,0 0 0 ,0 0 0 ro a d b o n d s.
YAKIMA COUNTY SCHOOL DISTRICT NO. 90. Wash — Bond Offering.
— P ro p o sa ls w ill b e re c e iv e d u n til 11 a . m . A u g u s t 3 b y F ran k B o n d ,C o u n t y
T r e a s . (P . O . N orth Y a k im a ), fo r $ 3 ,0 0 0 1 -2 0 -y r. (o p t .) site , b u ild in g an d
e q u ip m e n t b o n d s a t n o t e x c e e d in g 6 % ln t . A u th . S e cs. 117, 118 a n d 110
C o d e o f P u b lic In s tr ., L a w s o f 1807, also e le ctio n held J u ly 1.
D ate " d a y
o f Issue” , o r th e first d a y o f s o m e m o n th a t o p t io n o f b id d e r .
In t. ann at
C o u n ty T reasu rer’s o ffic e .
B o n d e d d e b t a t p resen t $ 3 ,0 0 0 .
W a rra n ts o u t
s ta n d in g $805. A ssess, v a l. 1011 $ 1 ,2 2 7 ,1 4 0 . Cash v a l. (e st.) $ 3 ,0 6 7 ,8 5 0 .
YOUNGSTOWN, A lahon ing County, Ohio.— Bonds Authorized.— A n
o r d in a n c e w as passed J u ly 8 p r o v id in g fo r the Issuance o f $30 0 ,0 0 0 4 ) 4 %
c o u p o n w a te r-w o rk s -lm p t. b o n d s .
D e n o m . $ 1 ,0 0 0 . I n t . s e m i-a n n u a lly at
o ffic e o f th e C ity T re a s . D u e $ 10 ,000 y e a r ly on O o t. 1 fro m 1020 t o 1040,
In clu sive.
Canada, Its Provinces and Municipalities.
ALLAN, S a s k .— Debenture Sale.— W . L . M c K in n o n & C o . o f T o r o n t o
w e re a w a rd e d . It Is sta te d , the $ 5 ,000 6 % 15-year Im p t. d e b s . ( V . 0 4 , p .l 7 2 1 ) .
A R N P R I O R , Ont.— Debenture B a le.— T h is c it y d is p o s e d o f th e fo u r Issues
o f d e b e n tu re s , a ggre ga tin g $ 2 0 ,0 3 1 , o ffe re d o n J u n e 14 ( V . 04. p . 1 5 2 5 ),
it Is s ta te d .
ARTHUR, Ont.— Debentures Not Sold.— N o sale w as m a d e o n J u ly 15 of
th e $2,400 5 % Im p t. de b e n tu re s o ffered o n th a t d a y . V . 0 5 , p . 131 .
B A T T L E F O R D , S a sk .— Debenture Offering.— P ro p o s a ls w ill b e r e ceiv ed
u n til 6 p . m . A u g . 3 b y J . P . M arshall. S e c . & T r e a s .. fo r $ 16 ,000 5 % 2 5 -y ea r
d e b e n tu re s .
NEW LOANS.
LO ANS
MISCELLANEOUS.
1800
$ 1 0 0 ,0 0 0
$ 4 0 ,0 0 0
Dallas County, Alabama,
City of Suffolk, Virginia,
GOOD
RO AD S
BONDS
•S ealed b ids fo r th e O ne H u n d red T h o u sa n d
D ollars D allas C ou n ty , A la b a m a , G o o d R o a d s
bon d s, v o te d fo r b y a m a jo rity o f the e lectors o f
D allas C ou n ty , A la b a m a , on J u ly 1st, 1012, w ill
b e receiv ed b y th e u nd ersigned o n o r be fo re n oon ,
MONDAY, AUGUST 12TH. 1912. S a id b o n d s
bear Interest a t th e rate o f five p e r c c n t p c r a n n u m ,
p a y a b le sem i-a n n u a lly In N ew Y o r k C ity, w ith
th irty years t o ru n . T h e first c o u p o n p a y a b le
J an u ary 1st, 1013, bears Interest fro m J u ly 1st,
1012. C ertified ch e ck fo r $1,000 m u st a c c o m
p a n y each b id .
P . II. P IT T S .
P r o b a te J u d ge ,
S elm a, A la b a m a .
F IV E
PE R
CENT
Stitherlin & Company
BONDS
Commerce Building
KANSAS CITY
MISSOURI
BONDS
Sealed p rop osa ls fo r sale o f said b o n d s, p a y a b le
th irty years a fte r d a te , A u g u s t 1st, 1912, w ith
five per c e n t Interest, p a y a b le se m i-a n n u a lly , w ill
b e re ce ive d b y th e u n d ersign ed u n til 3 P . M „
JULY 25TH, 1912,
t o b e a cco m p a n ie d b y certified c h e c k fo r 5 p er c e n t
o f b id , an d n o bid fo r less th a n p ar w ill be c o n
sid ered . T h e rig h t to r e je c t -a n y and all b id s la
reserved .
F o r fu ll p articu lars a dd ress,
JO H N B . P IN N E R ,
S u p t. D e p t, o f F in an ce.
Bolger, Mosser &
M U N IC IP A L
Willaman
1911
The United States Life
Insurance Co.
IN THE CITY OF NEW YORK
Issuei Guaranteed Contracts
J O H N P . M U N N , M . D ., P r e s id e n t
Finance Committee.
9LARENCE H. KELSEY. Pres.TttlC Qu.*Tr.Co.
WM. H. PORTER. Banker.
BD. TOWNSEND. Pres. Imp. & Traders Nat.Bk.
Good men, whether experienced In life Insurance
»r not, may make dlreot contracts with this Com?«ny, for a limited territory if desired, and secure
’or themselves, in addition to first year's oornml*tfon. a renewal tntereet Insuring an Inoome for tne
(nture. Address the Company at Its Home Otftoe,
No. $77 Broadway. New.Yerk m tr.
MUNICIPAL BONDS
Legal for Savings Banks,
Postal Savings and Trust Funds.
FINANCIAL REVIEW
SEND FOR LIST.
2 9 S o u t h L a S a lle S t .,
p j
193
1912
C H IC A G O
$ 5 0 ,0 0 0
IS S U E
A Y e a r B o o k o f F in a n c ia l
300 P ages
In fo r m a tio n
CERTIFIED PUBLIC ACCOUNTANTS
Comprehensive Statistics for a Series ot Yean
CONTENTS
Retrospect of the Year 1911.
Listings of New Securities.
Bank Clearings.
Record of Transactions on Stock Exchange.
Business Failures in United States.
Daily Rates for Call Money in 1911.
Weekly Range of Money Rates.
Yields of Leading Crops.
Anthracite Coal Production.
Gold and Silver Production.
Silver Quotations from 1837 to 1912.
British Trade and Finances in 1911.
United States Imports and Exports.
Daily Prices of Foreign E x ch a n ge._________
United States Debt and Securities.
Prices of State Securities.
Railroad Statistics.
—
Monthly Range of Prices.
Stocks and Bonds— At New York Stock Ex
change for five years. viz.: 1007, 1008, 1909,
1910 and 1911, and at Boston, Philadelphia,
Baltimore and Chicago Exchanges for year 1911.
Dividends— 1902 to 1911 inclusive.
Railway and Industrial Section.
The February 1012 issue of this Important pub
lication (100 pages) Is bound up with the Review
MANILA, SISAL AND JU TE
N e w Y o r k , C h ic a g o , C in c in n a ti a n d
L o n d o n , E n g la n d .
TERMS:
Price of the Review, bound in cloth...............$2 00
Postage 20 cents.
CORDAGE
AUDITORS
FOR
FINANCIAL INSTITU
TIONS. INDUSTRIAL AND
MINING COMPANIES
Investigations, Financial Statements,
Periodical Audits and Accounting
C IT Y
OF
D O U G L A S , G E O R G IA ,
3 0 -Y e a r 5 %
1 0 4 .7 5 a n d I n t e r e s t .
STACY
B onds
Y ie ld in g 4 .7 0 % ,
&
Toledo, 0.
BRAUN
Cincinnati, 0.
C h a rles M. Sm ith & Co
C O R P O R A T IO N
M U N IC IP A L
F IR S T N A T IO N A L
A N D
B O N D S
BAN K
B U IL D IN G
C H IC A G O
TH E AMERICAN MFG. CO.
65 Wall Street
Jtx&ortttttatxte.
New York
LYBRAND,
ROSS BROS &
M ONTGOM ERY
C e rtifie d P u blic A c c o u n ta n ts
(Pennsylvania)
NEW YO R K . 55 Liberty St.
PHILADELPHIA, Morris Bldg.
PITTSBURGH, Union Bank Bldg.
CHICAGO, First Nat. Bank Bldg.
SAN FRANCISCO. Kohl Bldg.
SEATTLE. Central Bldg.
LONDON. 68 Coleman St
J A M E S P A R K & CO.
C o m m e r c ia l
&
F in a n cia l
C h r o n ic le
138 Front Street., New York.
Copies may also be had at 513 Monadnock
Blk., Chicago: Edwards & Smith, l Drapers'
Gardens, London.
THE CHRONICLE
194
BEDFORD. Onf.— Loan Authorized.— T h is t o w n , re p o rts s ta te , ha3
a u th o riz e d the Issuance o f a $7,000 lo a n as a bo n u s to th e B e d fo rd M fg . C o .
BELLEVILLE, Out.— Debenture Sale.— A c c o r d in g to rep orts, $22 ,726
5 % 2 0 -y ea r d eb en tu res w ere aw a rd e d to th e O n ta rio Securities C o ., L t d ., o f
T o ron to.
BERLIN, Ont.— Debentures Voted.— T h e e le ctio n h eld J u ly 11 ( V . 0 5 , p .
70) r esu lted in fa v o r o f th e p r o p o s itio n to Issue $25 ,000 deben tu res as a
b on u s t o an a u to m o b llo -tlre fa c t o r y . T h e v o t e w as 1,397 “ fo r ” an d 301
“ a g a in s t .”
T h e d eb en tu re s w ill n o t be Issued, w e are in fo rm e d , u n til the
" c o m p a n y has sp en t $ 2 5 0 ,0 0 0 .”
BRAMPTON, Ont.— Debenture Sale.— C. H . B urgess & C o. o f T o r o n t o
w ore a w a r d e d . It Is s ta te d , th e $30 ,000 4 J 4 % 30-in stallm en t w ater d e b e n
tures ottered on Ju n e 24 (V . 04, p . 1721).
BRANDON, Man.— Debenture Sale.— T h e D o m in io n S ecurities C o r p .,
L t d ., o f T o r o n t o w as a w a rd e d , a c c o r d in g to re p o rts, $28,911 5 % 7 -y e a r ,
$ 2 1 ,1 3 6 5 % 3 0 -y c a r , $16 0,59 9 5 % 2 0 -y ca r an d $59 ,000 4 Vi% 30 -y e a r d e b s .
ELMIRA, Ont.— Debenture Offering.— P ro p o sa ls w ill b e r e c e iv e d u n til
A u g . 5 fo r $2,0 0 0 sidew alk an d $2,000 fire-hall d e b e n tu re s a t 5% in t. A u tli.
v o t e o f 301 to 60 a t e lectio n held Jun e 27 (V . 95. p . 13 2 ). D ue 20 years
fro m S e p t . 1 1912.
GUELPH, Ont.— Debentures Defeated.— T h e e le ctio n h eld J u ly 8 resu lted ,
re p o rts s ta te, in d e fe a t o f th e p ro p o s itio n t o issue th e $5,000 bo n u s and
$ 2 5 ,0 0 0 h o s p ita l d eb en tu res ( V . 95, p . 7 0 ).
HANLEY^ Sask.— Debenture Sale.— T h e O n ta rio S ecurities C o ., L t d .,
o f T o r o n t a w as a w a rd ed , a c c o r d in g to re p o rts , the $ 1 0 ,0 0 0 4 >5% 20-year
m u n icip a l-h a ll d eb en tu re s offe re d on Jun e 15 ( V . 94, p . 1464).
INGERSOLL. Ont. — Debenture Election.— A n e le ctio n w ill be h eld J u ly 22.
rep orts s ta te , t o v o t e o n th e q u e stio n o f Issuing $ 57 ,000 sew er a n d $20,000
b o n u s d eb en tu res ( V . 9 5 , p . 13 2 ).
KELOYVNA, B. C.— Debenture Sale.— T h e fo llo w in g d e b e n tu re s , aggre
g a tin g $ 9 7 ,0 0 0 , w ere a w a rd e d t o A em illu s Jarvis & C o . o f T o r o n t o a t 95.185
a n d Interest.
$ 7 ,0 0 0 w a te r-w o rk s -c x te n s lo n .
|$35 ,000 se w e ra g e -sy ste m .
10.0 0 0 sc h o o l-s ite -p u rc h a se ,
2 0 ,000 s tr e e t-im p ro v e m e n t.
2 5 .0 0 0 s c h o o l-b u ild in g .
|
O th er bids fo llo w :
O n ta rio S e c . C o ., L t d ., T o r _ .$ 9 1 ,0 3 7 | D o m ln . S e c . C o r p ..L t d ., T o r .$ 8 9 ,7 5 4
MEDICINE HAT, Alta.— Debenture Sale.— A n Issue o f $26 ,000 5 % 15y e a r d eb en tu res w as a w a rd e d t o H . O ’ H ara & C o . o f T o r o n t o , re p o rts sta te .
MONTREAL, Q u e.— Debenture Election.— A n e le ctio n w ill be held
J u ly 24, It Is s ta te d , t o v o t e o n the issu ance o f a $76 ,000 loan to the V illage
o f C a rtlervllle.
MOORE, Ont.— Loan Authorized.— T h is p la c e , it Is s ta te d , has a u th orized
the Issuance o f a $32 ,0 0 0 te le p h o n e -sy ste m lo a n .
M OO SE J A W SCH O OL D IS T R IC T NO. 1. S a sk .— Debenture Sale.— O a
J u ly 10 th e tw o Issues o f 5 % 3 0 -in stallm en t c o u p , d e b e n tu re s , agg re g a tin g
$215,000 (V . 95, p . 71) w ere aw arded to W o o d , G u n d y & C o . o f T o r o n t o
fo r $211,281 (98.27) and Int. A bid o f $20 7,71 7 w as also r e c e iv e d fro m th e
O n ta rio S ecurities C o ., L t d ., o f T o r o n t o .
D a te J u ly 10 1 9 1 2 .
In terest
an n u ally In N o v e m b e r .
N E L S O N , B. C .— Debenture Offering.— P ro p o sa ls w ill be r e c e iv e d u n til
8 p . m . J u ly 25 b y W . E . W a sson , C ity Clerk, fo r $20 ,000 tire -h a ll, $7,500
w a te r-w o rk s -cx te n s lo n , $7,500 sew er-exten sion 5 % 2 0 -y e a r d e b e n tu res .
D a te J u ly 1 1912.
In terest sem i-an n u al.
P rop osa ls w ill also be re ce ive d until J u ly 25 fo r $8,595 20 5 % lo ca l im p t.
debs.
D ate D e c. 1 1911. D ue In 10 annual in stallm en ts o f p r ln . and int.
N E W G L A S G O W , N. S.— Debenture Sale.— D u rin g Ju n o this c i t y dis
p o se d o f $ 1 0 0,00 0 4
d eben tu res d u e in 1951, re p o rts s ta te .
O T T H O N . S a sk .— Debenture Sale.— N ay & Jam es o f R e g in a h a v e been
a w a rd e d , re p o rts s ta te , $2,000 6 % 15-year d e b e n tu re s.
P A R I S , O n t.— Debentures Voted.— T h e e le ctio n h eld r e c e n tly re s u lte d ,
a c c o r d in g to re p o rts. In fa v o r o f the p r o p o s itio n to issue th e $25 ,000 L a k e
E rie & N o rth e rn I t y . aid d eb en tu res (V . 94, p . 1 7 2 2 ).
P I C K E R I N G , O n t.— Debentures Voted.—A recen t e le ctio n r e su lted in
fa v o r o f issuing $3,000 sid e w a lk d eb en tu res. It Is r e p o r te d .
R O S E D A L E ( R U R A L M U N I C I P A L I T Y NO. 2 8 3 ). S a s k — Debenture
Sale.— O n Ju n e 29 the $ 15 ,000 4 'A% 2 0-year d eben tu res ( V . 94, p . 1723)
w ere a w a rd e d , it Is s ta te d , to I I . O 'H a r a & C o . o f T o r o n t o .
S A C R E C O E U R SC H O O L D IS T R IC T NO. 158 6, S a sk .— Debenture
Offering.— P rop osa ls w ill be re ce iv e d until A u g . 1 b y D . L . D e L e m a n d a r ,
S e c .-T re a s . (P . O . M o n tm a rtre ), It Is s ta te d , for $2,500 6 % 2 0 -ye a r d e b s .
ST. JO H N , N. B .— Debenture Sale.— T h is c it y , a c c o r d in g to r e p o r ts , dis
p osed o f in Jun e $18 ,000 4 % d eben tu res d u e in 1951.
S T E T T L E R , A lb e r ta .— Debenture Offering.— P rop osa ls w ill be r e c e iv e d
u n til 5 p . m . A u g . 22 b y R . D ick B a lla n ty n e , S e c .-T re a s ., f o r $ 1 0 ,8 0 0
w a te r-w o rk s an d $4,000 e le ctric-lig h t 5J ^ % d e b e n tu re s .
D uo in a n n u a l
Installm ents o f p rin . & in t. T e n d e r to Include c o s t o f p rin tin g d e b e n tu re s .
T H O R N B U R Y , O n t.— Debenture Sale.— T h e $5,000 5 % 10-year H o o d da m a ge -re p a ir d eb en tu res offered on J u ly 15 ( V . 95, p . 133) h a v e b e e n s o l d .
T R U R O , N. S.— Debenture Sale.— J . M . R o b in s o n & S on s o f S t. J o h n
w ere aw ard ed $56,100 4 ^ % 30 -y e a r d eb en tu res at 9 4 .
D a te J u ly 1 1 9 1 2 .
V E G R E V I L L E , A lt a .— Debentures Voted.— A t a recen t e le ctio n a f a v o r
able v o te w as ca st on the Issuance o f $75 ,000 w a ter-w ork s a n d s e w e r a g e ,
$3,000 p a rk , $1,500 s tr ce t-lm p t. an d $700 B o a rd o f T r a d e d e b e n tu r e s ,
a c c o r d in g to re p o rts.
Z E A L A N D I A , S ask .— Debenture Sale.— N a y & Jam es o f R e g in a w ere
aw arded the $3,000 park and $3,000 re fu n d in g 6 % 1 5-ycar d e b e n tu r e s
v o te d M ay 16 (V . 94, p . 164 6), re p o rts s ta te .
MISCELLANEOUS.
NEW LOANS.
$ 3 0 ,0 0 0
OFFICE OF THE
ATLANTIC MUTUAL INSURANCE COMPANY.
New
York, January 23d,
1912.
The Trustees, in conformity with the Charter of the Company, submit the follotciny statement of its affairs on the
31st of December, 1911.
The Company’s business has been confined to marine and inland transportation insurance.
Premiums on such risks from the 1st January, 1911, to the 31st December, 1911-------------------------- $3,653,325 18
Premiums on Policies not marked oft 1st January, 1911----------------------------------------------------------------873,080 3 /
Total Premiums_____________________________________________________________________________________$4,527,005 55
Premiums marked off from January 1st, 1911, to December 31st, 1911-----------------------------------$3^733578 22
Interest on the Investments of the Company received during the year-----$333,897 03
Interest on Deposits in Banks and Trust Companies, etc.......................... 39,628 -4
Iteut received iess Taxes and Expenses-------------------------------------------- 153,107 bo
Losses paid during the year..........— ........ - .......................... .............VoVff
i.pcq Salvages ______ - ___ __________________ _____ v*oJU,/U4 5J
Re-insurances - __ - _______________ _______ 205,151 34
526,6J2 U3
425,855 86
$959,530 60
Returns of Premiums
_ — ——- —
—
——
—
—
—————
—
—
$196,930 89
Expenses, Including officers’ 'sidarks and clerks* compensation, stationeiy, advertise
ments, etc........- ....................................... - ..............................................................
570,472 18
A d i v i d e n d o f I n t e r e s t o f f i x p e r c e n t o n t h e o u t s t a n d i n g c e r t ifi c a t e s o f p r o fit s w il l b e p a i d t o t h e h o ld e r *
f h e r c n f n r t h e i r le g a l r e p r e s e n t a t i v e s , o n a n d a lt e r T u e s d a y t h e s ix t h o f F e b r u a r y n e x t .
* ^ T h e o u t s t a n d i n g c e r t if i c a t e s o f t h e is s u e o f 1906 w il l b e r e d e e m e d a n d p a id t o t h e h o l d e r s t h e r e o f , o r t h e li
ip .,.,I r e p r e s e n t a t i v e s o n a n d a f t e r T u e s d a y t h e s i x t h o f F e b r u a r y n e x t , fr o m w h ic h d a t e a l l I n t e r e s t t h e r e o n
w fll c e a s e
T h e c e r t if i c a t e s t o b e p r o d u c e d a t t h e t im e o f p a y m e n t a n d c a n c e l e d .
A d i v i d e n d o f F o r t v p e r c e n t is d e c la r e d o n t h e e a r n e d p r e m iu m s o f t h e C o m p a n y f o r t h e y e a r e n d in g 31st
D e c e m b e r 1 9 1 1 , w h ic h a r e e n t it l e d t o p a r t i c i p a t e in d i v i d e n d , f o r w h ic h , u p o n a p p l i c a t i o n , c e r t if i c a t e s w il l be
Issued on and a f t e r T u e s d a y t h e s e v e n t h o f M a y n e x t .
nth m ci
™ r c
c
.
B y o r d e r o f th e B o a r d ,
G - ST A N T O N F L O Y D -J O N E S , S e cre ta ry .
TRUSTEES.
FR AN CIS M. BACON,
JOHN N . BEACH,
E R N E ST C. BLISS,
V E R N O N H . BR O W N ,
W A L D R O N P. B R O W N ,
JOHN CLAFLIN
G EO RG E C. C L A R K ,
CLEV E LA N D II. DODGE,
CO RN E LIU S E L D E R T ,
R IC H A R D IX. E W A R T ,
P H IL IP A . S. F R A N K L IN .
HERBERT
L . G R IG G S ,
[VO L. L X X X XV .
C H A RLE S M. P R A T T ,
D ALLAS B. P R A T T ,
G EO RG E W . Q U IN T A R D .
ANTON A . R A V E N ,
JOHN J. R IK E R ,
DOUGLAS RO BIN SO N,
G USTAV I I . SCH W AB,
■WILLIAM SLOANE,
LOUIS S T E R N ,
W ILLIA M A. S T R E E T ,
G EO RG E E . T U R N U liE
VILLAGE OF PEEKSKILL, NEW YORK,
J a il a n d C o u r t -H o u s e B o n d s
N o tic e is h ereby give n th a t, p u rsu an t t o the
a u th o rity o f C h apter 735 o f th e L a w s o f 1911, the
B oa rd o f T ru stees o f the V illa ge o f PeeksklU ,
N ew Y o r k , has re so lv e d to Issue b o n d s fo r th e
pu rpose o f c o n s tru ctin g a bu ild in g to b e used as
a Jail, p o lice c o u r t and p o lice head qu arters In such
village, an d to purchase o r a cq u ire lands n ecessary
fo r th e a cq u isitio n an d co n s tr u c tio n o f th e said
bu ild in g .
,
,
,
N o tice Is fu rth er give n th a t th ere w ill be Issued
th irty b o n d s, each o f th e d e n o m in a tio n o f O ne
T h ou sa n d D ollars. T h a t th e y w ill be a r d ate
on th e 15th d a y o f A u g u st, 1912, an d th a t the
Interest th ereon w ill be p aid thereafter sem i
an n u ally on the 15th d a y o f F eb ru a ry and the
15th d a y o f A u g u st r e s p e ctiv e ly . S aid b on d s
shall be co n s e c u tiv e ly n u m bered fro m o n e t o the
highest issued. T h e first o f said b o n d s shall
b e co m e d u e live years fro m the d a te o f Issue,
and on e b o n d In each su cce e d in g ye a r thereafter,
and will be pa ya b le at the W e stch e ste r C ou n ty
N ational B a n k, P eek sk ill, N ew Y o r k . Said
b o n d s shall be design ated as " J a il an d C ou rt
house b o n d s o f the V illage o f P eek sk ill, N ow
Y o r k .”
T h e b id d e r o r b id d e rs to w h om the b o n d s shall
be aw arded w ill be required to take the b on d s
and p a y the m o n e y fo r the sam o a t th e W es t
ch ester C o u n ty N a tio n a l B a n k , P eek sk ill, N ew
Y<T h e b ids fo r said b on d s will b e fo r the low est
rate o f Interest a t w h ich th e said m o n e y w ill be
fu rn ish ed.
Sealed bid s m u st he filed w ith the Clerk o f the
CH A RLE S I). L E V E R IC H ,
V illage at th e M u n icipa l B u ild in g, P eek sk ill,
L E A N D E lt N . L O V E L L ,
N ew Y o r k , on o r b efore 12 o ’c lo c k n o o n on the
G E O R G E II. M A C Y ,
30TH D A Y O F J U L Y , 1912. E ach bio. m u st be
C H A R I ,E S H . M A R S H A L L ,
a cco m p a n ie d b y a certified ch e ck on som e S tate
N IC H O L A S F . P A L M E R ,
o r nation al ban k fo r the sum o f F ive H u n d red
IIE N R Y P A R IS H .
D ollars, p a y a b le t o the o rd e r o f the V illa ge o f
AD O LF P A V E N S T E D T ,
P eek sk ill, as an e v id e n c e o f g o o d fa ith and as
A . A . R A V E N , President.
liq u id a te d d am ages, and n o t as a p e n a lty , th at
CO RN ELIUS E L D E R T V i c e - P r e s id e n t .
th e b id d e r o r bid d ers will w ith in ten d a y s a lto
W A L T E R W O O D P A R S O N S , 2 d V ic e -P r e s id e n t .
th e aw ard o f the Issuance o f said b o n d s a c c e p t In
C H A R L E S E . F A Y , 3 d V ic e - P r e s id e n t .
J O H N I I . J O N E S S T E W A R T , i t h V i c e - P r e s id e n t .
w ritin g the aw ard so m ade to It, him o r them ;
and fu rth er as liq u id a te d dam ages, and n o t as a
p e n a lty , in case said b id d e r o r bidders w hose bid
BALAN CE SH EET.
or b ids shall b e a c c e p te d shall fail to fulfil! the
l
i
a
b
i
l
i
t
i
e
s
.
ASSETS.
term s o f said bid o r bids o n the 9th d a y o f A u gu st,
E s t i m a t e d L o s s e s a n d L o s s e s U n s e t t le d
United States and State of New Y ork
1912, at eleven o ’c lo c k in the fo re n o o n o f th at
lit p r o c e s s o f A d j u s t m e n t __________________$ 2 ,3 1 0 ,0 2 7 00
$700,000 00
Bonds ................................... - ...................
P r e m iu m s o n U n te r m in a t e d R i s k s — ■ - - 7 5 3 ,4 2 7 33
d a y at the o L lc e o f the Clerk o f the V illa ge o f
New York City and New York Trust Co.
P eek sk ill.
and Bank Stocks.......................................
1 777,900 00 C e r t ific a t e s o f P r o fit s a n d I n t e r e s t U n
p
a
i
d
.
.............
........................................................
2
6
7
,0
9
2
05
N o tice Is fu rth er given th a t the B o a rd o f
Stocks and Bonds o f Railroads--------------- 2,742,162 00
1 0 9 ,7 4 2 16
220,020
00 R e t u r n P r e m iu m s U n p a id ....................
T rustees o f the V illa ge o f Peekskill will m eet a t
Other S ecurities............................................
oon
' ' oft nn
Reserve fo r T a x e s ______ _____________________
5 7 ,5 1 2 16
Special Deposits In Banks and Trust
the M unicipal B u ilding, Peekskill, N ew Y o r k , on
R e - in s u r a n c e P r e m i u m s . ........... .......................
1 8 3 ,5 9 9 0 .
1,000,000
00
Companies __________________________
the 30th d a y o f J u ly , 1912, at 8 P. M „ and will
C la im s n o t S e t t le d , in c lu d in g C o m p e n
Real Estate cor W all and William Streets
then and there p roceed p u b licly to op en said
s a t io n , e t c .........................
6 9 ,1 0 4 08
and Exchange Place, containing offices 4.299,426 04 Certificates
bids and aw ard th e furnish ing o f said m o n e y for
of Profits Ordered Redeemed,
Real Estate on Staten Island (held under
W i t h h e ld fo r U n p a id P r e m iu m s ..............
2 2 ,4 7 1 29
said b o n d s to the b id d e r o r b id d ers offerin g to take
75,000 00
provisions o f Chapter 481,Laws o f 1887)
C e r t ifi c a t e s o f P r o fit s O u t s t a n d i n g ..............
7 ,4 0 1 ,3 9 0 0 0
th e sam e at the low est rate o f Interest (n ot to
618.136
00
Premium N otes..............................................
.
OQ
e x ceed five per ce n t h o w ever) an d furnish the
Bilis R e c e iv a b le ________________________
449,354 23
m o n e y as h erein b efore set fo rth .
Cash in hands o f European Bankers to
B idders w ill he required to state w h eth er their
pay losses under policies payable in
foreign co u n tr ie s .-......... - .............. ........
203,603 3b
b id is fo r the w h ole a m o u n t o r fo r a p o r tio n o f the
Cash in B ank___________________________
930,321 99
sam e, an d if fo r a p o rtio n , w h a t a m o u n t, will !>•
New York City Revenue B onds________
450,000 00
taken at the rate o f Interest h id, and fu rth er,
$11,174,365 14 if the bid shall be fo r the w hole a m o u n t o f the
S13.465.923 62
Issue, w h ether the b id d e r will a c o e p t a p o rtio n
Thus leaving a balance o f . . _______ ____ - ................... - ................................- ............- ............... $2,291,558 48 o f the b o n d s o n ly , at the sam e rate o f Interest.
T h e B oa rd o f T ru stees reserves th e rig h t to
Accrued Interest on Bonds on the 31st day of December, 1911, amounted to--------------------------^ni’o-n
r e je c t a n y and all bid s.
,
Rents due on the 31st day of December, 1911, -amounted t o . . - - - - - - - - - - - - - - . . . ------v --’J,u 4ts
D a ted , P eek sk ill, N . Y . , th e 2nd d a y o f J u ly .
R e - in s u r a n c e d u e o r a c c r u e d . In c o m p a n i e s a u t h o r i z e d in New A o r k , o n t h e 3 1 s t d a y o f Decem ber,
1911, amounted to_____ ______ ______________________________ _______ _______________
214,367 00 1912.
T H O IIA S N E L S O N J U „
Unexpi’red rc-insurance premiums on the 31st day of December, 1911, amounted to........83,096 43
P residen t.
Note: The insurance Department has estimated the value of the Real Estate corner Wall and
C H A R L E S VV. O L D F I E L D ,
William Streets and Exchange Place in excess of the Book Value given above, at----------- 450,573 Jo
And the property at Staten Jslnnd in excess of the Book Value, at — . . . ------ — ---------b3,700 OU
C A S S IU S M . G A R D N E R ,
The Market Value of Stocks. Bunds and other Securities on the 31st day Oi December, lJU . ex
F R E D . F. ROE,
needed the Company’s valuation by......... ................................................................. .................
ANGELO B L E A K L E Y ,
T rustees o f the V illa ge o f P eek sk ill.
On the basis e f these Increased valuations the balance would be------------------------------------------- $4,755,780 75
A L B E R T E . C R U G E U , Clerk.
CLEMEN 1’ A. GK1SCOM,
AN SON W . H A R D ,
T H O M A S 11. H U B B A R D ,
L E W IS CASS L E D Y A R D ,
@FedFRASER