Full text of Commercial and Financial Chronicle : July 21, 1906, Vol. 83, No. 2143

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

Bank and Quotation Section (Monthly)

State and City Section (semi-Annually)

Railway and Industrial Section (Quarterly)

Street Railway Section (^ J i^ 160)

Entered aocordingto A
\

w e e n iy

t

of Congress, in the year 1906,

n e w s p a p e r e n t e r e d a t P o s t O ffic e , N e w

b y

W

il l ia m

B.

Saturday ,

VOL.

i'he (Chronicle.
For One Year.................................................................................................$10 00
6 00
European subscription (including postage)............................................ 13 00
European Subscription Six Months (including postage).................... 7 50
Annual Subscription m London (including postage).......................... £ 2 14 s.
Six Months Subscription in London (including postage).................. £1 11s.
F or Six Months............................................................................................

subscription includes following Sections—
B a n k a n d q u o t a t io n (m on th ly )
I S t a t e a n d C it y (sem i-an n u ally)
R a i l w a y a n d I n d u s t r ia l (q u a rte rly ) | S t r e e t B a i l w a y (3 tim es yea rly)

Terms o! Ad vertising—Per Inch Space

Transient matter per in c h space (14 agate lines)....................................
( Two Months
(8 times)............................
r>
~
. ) Three Months
(13 times)............................
standing Business Cards ^ Slx Months
(26 times)............................
( Twelve Months (52 times).............................

$4
22
29
50
87

20
00
00
00
00

CHICAGO OFFICE—P. Bartlett, 513 Monadnock Block; Tel. Harrison 4012
LONDON OFFICE—Edwards Sa Smith, 1 Drapers’ Gardens, E. C.
COREPANTT, P u b l i s h e r s ,

P i lie S t r e e t . C o r n e r o f P e a r l S t r e e t ,

NEW

P o s t O ffice B o x 9 3 8 .

C L E A R IN G

HOUSE

YORK.

RETURNS.

The following table, made up by telegraph, &c., indicates
that the total bank clearings of all the clearing houses of
the United States for the week ending to-day have been
$2,683,365,435, against $2,726,340,815 last week and
$2,372,437,320 the corresponding week last year.
C lea rin g s— R e tu r n s b y T eleg ra p h .
W e e k e n d in g J u l y 21.

P er
Cent.

1906.

1905.

N ew Y ork _.
B o s t o n ______
P h ila d e lp h ia
B a l t i m o r e ___
C h i c a g o -------S t . L o u is —
N e w O r le a n s

$ 1 .3 4 8 ,7 7 6 ,5 2 8
1 3 1 ,7 6 0 . 1 4 0
1 2 2 ,5 4 5 , 5 2 5
2 1 ,9 7 7 .8 4 6
1 8 6 ,1 5 8 , 9 8 8
4 8 .3 8 7 ,5 9 3
1 2 ,7 7 4 .8 4 8

$ 1 ,1 7 7 ,2 4 2 ,2 6 2
1 2 0 ,1 5 4 , 0 0 9
1 0 5 .2 7 2 , 5 6 9
1 9 ,8 9 2 ,1 7 1
1 6 1 ,0 6 4 , 7 9 5
4 6 .7 2 4 ,9 5 4
1 4 ,4 6 0 ,5 9 3

+ 1 4 .5
+ 9 .7
+ 1 6 .4
+ 1 0 .5
+ 1 5 .6
+ 3 .6
— 1 1 .7

S e v e n c i t i e s , 5 d a y s _______________________
O t h e i r c i t i e s , 5 d a y s _________________________

8 1 ,8 7 2 ,3 8 1 .4 6 8
3 4 5 .9 7 2 ,6 8 4

$ 1 ,6 4 4 ,8 1 1 ,3 5 3
3 1 8 ,5 2 7 ,9 8 4

+ 1 3 .8

T o t a l a l l c i t i e s , 5 d a y s ----------------- ----------A l l c i t i e s , 1 d a y -----------------------------------------------

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

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

+ 1 3 .0
+ 1 3 .7

T o t a l a l l c i t i e s f o r w e e k ________ * _______

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

$ 2 ,3 7 2 ,4 3 7 ,3 2 0

+ 1 3 .1

+ 8.6

The full details for the week covered by the above will be
given next Saturday. We cannot furnish them to-day,
clearings being made up by the clearing houses at noon on
Saturday, and hence in the above the last day of the week
has to be in all cases estimated, as we go to press Friday night.
We present below our usual detailed figures for the previous
week, covering the returns for the period ending with Satur­
day noon, July 14, and the results for the corresponding
week in 1905, 1904 and 1903 are also given. Contrasted
with the week of 1905 the total for the whole country shows
a gain of 0.9% . Outside of New York the increase over
1905 is 7.5% .
C lea rin g s a t—

W e e k e n d in g J u l y 14.
----------------------------------------------------------------- ---------------------

1906.

1905.

$
S
N e w Y o r k ________ 1 , 6 7 4 , 3 1 0 , 4 1 5 1 . 7 2 2 , 5 9 0 , 0 9 7
P h i l a d e l p h i a _____
1 4 4 .5 9 1 .7 9 9
1 2 9 ,5 2 0 , 6 6 8
P i t t s b u r g h ________
5 0 .6 1 8 .8 8 5
4 7 .8 9 6 .3 7 3
B a l t i m o r e ________
3 0 .4 7 4 .2 7 6
2 6 .3 9 3 ,9 0 6
B u f f a l o ___ ______
6 .8 0 8 ,1 9 2
8 .3 9 9 .5 0 7
W a s h i n g t o n _____
5 .6 2 4 .9 7 0
5 ,2 7 9 .4 4 5
A l b a n y ................. .. _
5 .6 1 4 .9 8 2
4 ,5 3 9 . 3 2 1
R o c h e s t e r ________
3 ,5 4 3 .9 6 2
3 .7 8 8 .7 2 5
S c r a n t o n .............. ..
2 .1 7 3 ,1 3 3
1 .7 6 4 .5 8 1
S y r a c u s e _________
J .8 2 2 .1 4 5
1 .5 4 1 ,0 8 1
R e a d i n g _________
1
.2 0 1 . 0 4 2
1 .4 6 9 .3 5 5
W i l m i n g t o n ______
1 .3 7 5 .6 7 5
1 ,2 8 2 , 6 4 5
1 .2 4 1 .3 5 2
W ilk e s -B a r r e . . .
1 .0 8 2 . 4 1 6
W h e e l i n g ________
1 .1 2 8 ..5 0 2
7 7 3 ,4 5 8
B in g h a m to n . . .
.5 4 7 ,0 0 0
5 4 3 .6 0 0
E r i e ......................
6 6 8 .3 9 6
5 5 7 .6 5 1
C h e s te r ................
.5 1 9 .7 8 9
4 6 9 .4 3 6
3 8 4 .8 4 1
G r e e n s b u r g ............
4 4 5 .5 3 7
F r a n k l i n .................
2 2 4 .8 6 4
2 3 5 .0 0 0
T o ta l M id d le ..

1 .9 3 0 .0 5 5 .4 4 3

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

In c. or
D ec.

C

1904.

s

in the office of Librarian o t Congress,Washington, D . O .

o m p a n y
il l ia m

july

B. D

a n a

C

o m p a n y

%
— 2 .8 1 .2 6 9 .4 0 4 ,3 4 0
+ 1 1 .6
1 0 9 .2 9 0 , 6 7 9
+ 5 .7
4 0 .2 9 2 .3 3 1
+ 1 5 .5
2 1 ,9 6 5 .9 6 9
+ 2 3 .4
6 ,4 6 0 . 6 6 1
+ 0 .5
4 .1 9 5 .7 9 3
+ 2 3 -7
4 .0 1 7 .8 6 8
2 ,7 7 5 ,4 5 8
+ 6 .9
+ 2 3 .2
1 .7 4 9 ,6 1 1
+ 1 8 .2
1 .3 4 0 ,1 1 2
1
,1 6 6 ,9 7 9
+ 2 2 .3
1 .1 2 7 .0 2 0
+ 7 .3
+ 1 4 .7
9 2 3 .0 3 8
+ 4 5 .9
7 5 4 ,1 6 5
+ 0 .6
4 7 8 .5 0 0
5 8 5 .4 3 8
+ 1 9 .9
+ 1 0 .7
4 4 9 .2 7 7
4 8 9 .0 4 2
+ 1 5 .8
+ 0 0 .0
1 9 8 .2 8 0

1903.

s

1 .4 2 2 , 3 2 7 , 7 5 2
1 3 3 ,6 6 9 , 4 0 2
5 0 , 8 2 I .9 7 2
2 6 .4 0 8 ,1 7 8
6 .6 5 6 ,9 6 6
4 .0 0 4 .6 5 7
3 .4 3 2 .7 7 8
2 ,5 7 4 ,0 6 5
1 .8 2 7 ,7 3 0
1 ,4 9 1 .8 9 0
1 ,3 2 4 .2 0 0
9 5 1 ,8 4 3
8 2 5 .1 1 0
4 5 1 .2 0 0
4 9 8 ,8 5 0
6 2 5 .4 2 5
5 1 7 .0 4 4
2 8 7 ,0 2 0

— 1 .3 1 . 4 6 7 , 6 6 4 . 5 8 4 1 , 6 5 8 , 3 1G ,0 6 2

, P u b lis h e r s , 7 (%

P i n e S t ., N . Y .

21, iaoe.

no
W e e k ending

1906.

Terms ol Subscription—Payable in Advance

B. D AN A

a n a

Clearings at—

P U B L IS H E D W E E K L Y .

YV1LL3A?S

D

Y o r k , as s e o o n d -c la s s m a tte r— W

1905.

J u ly

In c. or
D ec.

.

2143.

14.

1904.

1903.

'*

$
S
S
S
%
158,867,834
1 5 5 .0 7 7 .14C
+2.<5
133.040.499
138,325.188
7.700.400
7.965.20C
— 3.7
7,080,800
7.789.800
4.730,123
3 ,1 79.45C + 48.8
3.717,393
3,592.687
2,711.354
2.436.701 + 1 1.3
2.212,635
2,083.895*
1,785,318 + 20.5
1,533,017
1.909,324
2,151,998
— 7.9
1 .5 5 5 .8 4 9
1,590,589!
1.727.070
1.735,31(>
2.000.191
1.800,240 + 11.1
1.676,3.06
1,670.170
736,656
777.253
— 5.2
644,669
730,134
545,314
568.18- | — 4.0
500,560
508,152
731,168
702,710 I + 4 .0
465,372
595,030
465,222 1 + 4 4 .1
420,322
524,783
670,268
182,435,895
176,484,497
+ 3.4
152,951,883
159,360,030
207.878,641
193,409,327
+ 7.5
176.780,433
171.338,104
27,210.200
24,168,550 1 + 1 2 .6
28.876.60C
22,895.900
18.005.582
17,406,280
+ 3.8 !
14,096,536
16,416.072
12,075,264 ! + 1 5 .8
13,979,367
12,666,461
10,720,32510,232,956
8.741,615 | + 1 7 .1
8,426.307
8,198,910
8,228,471
S,249,437
— 0.3
6.635.317
7,838.938
4,686,200 + 18.3
5,545,100
4,060,700
5,087,100'
4,558,905
4.053.811 , + 1 2 .5
3,468,871
2,922,941
2 ,6 1 2 ,5 4 8
2,768,679
2 ,6 3 6 ,2 74
+ 5.0
2,319,490
2,234,212
2,093,716
+ 6.7
1,997,878
1,977,655
2.219.178
1,889,014 + 17.5
1,770,664
1.774,999
2,025,000
1,489,631 + 36.0
1,225,305
1,264,570
886,079
949,803 ! — 6.7
916,115
895,023
— 2.3
693,923
653,013
980,930
770,146 + 27.4
767,890
735,402
740.600
686,250
— 7.3
635,700
823,000
+ 7.5
721,745
6 7 1 ,2 4 1
598,296
673,318
538,762
595,780
— 9.6
480,383
590,815
+ 2.4
613.781
599,367
487,794
578,994
+ 2.5
524,451
511,811
531,745
440,685 + 20.7
647,270
533.033
415.504
— 3.4
430,336
429,497
429,336
318.589 + 19.9
382,081
309,072
418,087
412,480
— 7.6
381.161
3 0 8 ,6 9 1
365,385
— 5.2
393,090
4 1 4 ,4 5 8
1 9 5 ,1 8 4
241,140
367,786
296,120 + 24.2
249,020
580.520
209,385 + 25.8
263,488
211.914
188,711
230,230
245,000
+ 6.4
262.623
217.809
98,258 + 59.2
85.004
150.400
-73.606
313,929,567
289,504,523
+ 8.4
268,672,203
260,026,851
T o t . M id .W e s t.
37,090,320
37,528,217
— 1.2
32,431.357
39,152,293
S a n F r a n c i s c o ___
12.031,142
7.274,042
6,630,182
11,338,743
+ 6.1
L o s A n g e l e s ______
9,191,686
6,240,639 + 47.3
4,756,419
4,897,238
S e a t t l e ___________
6,022.571
4,686,251 + 28.5
3,630,534
3,397,266
P o r t l a n d _________
5,113,700
4,091,101 + 25.0
3.081.620
2,919,306
S a l t L a k e C i t y ___
2,409,162
4.397,646
3,449,851 + 27.5
2 ,4 6 6 ,7 3 8
S p o k a n e ___________
3,733,550
1.846,422
3,231,113 + 15.5
1,820,459
T a c o m a ___________
852,422
609,491
569.303
547,284 + 55.8
Helena ________
563,274
527,909
+
6.7
499,227
473.736
F a r g o ____________
301.218
404,526
294,471 + 37.4
238,769
S i o u x F a l l s ______
3,637,348 N o t included in total
O a k l a n d ___________
N o t included in total
S a n J o s e ___________
79,400,837
56,734,753
53,670,028
71,935,579 + 1 0 . 4
T o ta l P a c ific -.
14,758,006!
20,729,869
24.845,271
22,822,600
K a n s a s C i t y _____
+ 8.9
13,329,309
13,440,711
14,681,736 + 31.3
19,282.323
M i n n e a p o l i s ______
7 ,9 7 1 . 8 1 2
+ 3.6
7.321,927
0,223,494
8,903.930
O m a h a ______ _
6.825,975
6,172,389
6,455,085 + 26.3
8.151,223
S t . P a u l ___________
3,790,989
4 ,9 3 3 .2 1 4
+ 2.2
6.349.938
6,486,635
D e n v e r . . _________
3.261.749
4.282.009
+ 7.7
4,003,233
4.003,233
S t . J o s e p h ________
2.054.996
2,023,601
2,355,204 + 10.1
2,592,394
D e s M o i n e s _______
978,926
1.300,682
+ 8.3
1,609,535
1,742,470
S i o u x C i t y ________
841.198
1.150,581
833.859
533,381 + 56.3
T o p e k a ___________
902,729
525,988
1.547,293 — 15.2
1.311.503
W i c h i t a ___________
752,943
890.975
1 ,0 0 0 , 0 0 0
744.982 + 31.6
D a v e n p o r t ________ I
579.783
541.131
690,364
+ 2.1
705,000
C o lo r a d o S p r in g s j
+ 9.9
533,773
459.737
505,081
C e d a r R a p i d s ___
497,094
+ 9.6
544.965
P u e b l o ___________
151.884
148,016
236.401
188,757 + 25.2
F r e m o n t _________
in
total
N
ot
included
1.145.446
L i n c o l n ___________
56,134,187
64,111,778
71,842,869 + 13.8
81,773,568
T o t . o t h .W e s t .
52,994,217
51,754.403
+ 4.9
54,229,563
56,879.515
S t . L o u i s __________
12.601.651
14.907,717
19.911.563 — 19.1
16,115,617
N e w O r l e a n s _____
12,006,968
10.115.489
11,786,367
+ 0.8
11,884,659
L o u i s v i l l e ________
5.084.934
5.350.000
5,987,595 + 47.4
8.824.185
H o u s t o n _________
2,932,500
3,287.000
+ 3.9
5.090,000
4,900,000
G a l v e s t o n ________
4.820,039
4.039.048
5,581,706 + 11.7
6,237.816
R i c h m o n d ______
3,021.067
2.600.069
4,936,764 — 21 -3
3,887,863
S a v a n n a h ________
2,982,258
3.050.415
4.215.212
— 6.8
3,930.521
M e m p h i s _________
2.419,2 SI
2,548,003
3,500,499 + 27.6
4.467.343
A t l a n t a ___ _______
2.581.645
2,738.800
2,911,313 + 25.1
3.642,246
N a s h v ille
______
1,723.454
1,134.523
2.505,423 + 15.0
2,880.340
F o r t W o r t h ______
651,372
870.981
2,264,269 — 45.0
1,245,295
A u g u s t a __________
1,080.040
1.633,931
+ 5.6
2,172,148
2,293.397
N o r f o l k ___________
1.050.000
1.117,723
1.669,610 + 13.8
1,900,000
B ir m in g h a m
1.383.482
1.109.884
1.217.249
+ 3.61
1,261.148
K n o x v i l l e ________
1.064.734
1.045,836
1.306,725
1,425.958
+ 0 .1
C h a r l e s t o n ______
797.358
361.923
1.418.742
1,210,220 + 17.2'
J a c k s o n v i l l e _____
1,302,699 + 57.2,
2,048.255
M o b i l e _____________
808.239
725.635!
+ 7.2;
1,062,612
991. 122
L i t t l e R o c k ______
7 7 7 ,1 6 1
794.913|
1,231,682 + 14.3
1,407,255
C h a t t a n o o g a ___
638.000
348.979!
592.322
— 9.2
538,047
M a c o n ____________
191.692
304.69U
255.978 + 19.0
— -----C o l u m b u s . G a ___
111,856,626) 109,888,538
134.680,029 " + 3 .0
138,716,605
T o ta l S o u th e rn
+ 0.9 2,114.014.233 2.305.373.29a
T o t a l a l l ............... 2.726.340.815 2.700.844,646
883.045,548
844.609.893
978,254,549
+ 7.5
O u t s i d e N . Y _ _ 1.052.054.400
B oston _________
P roviden ce ______
H a r t fo r d ______ _
New H a v e n _____
Springfield______
W o r c e s te r ______
P o r t la n d ________
Fall R i v e r ______
L o w e ll__________
New B e d fo rd ____
H o ly o k e _________
T otal N ew E ng.
C h ic a g o _________
C in cin n a ti______
C le v e la n d ______
D e tro it__________
M ilw a u k e e _____
In d ia n a p o lis____
C o lu m b u s ______
T o le d o __________
P e o r i a __________
Grand R a p id s___
D a y t o n _________
E vansville _____
F o rt W a y n e ____
Springfield, 111 __
K a la m a z o o _____
A k r o n __________
L e x in g to n ______
Y o u n g s to w n ____
R o ck ford ______
South B e n d _____
C a n t o n _________
Springfield, Ohio
B lo o m in g t o n ___
Q u i n c y _________
M a n s fie ld ______
D ecatur ________
Jacksonville, Ill_
Jackson _________
A nn A r b o r______

Canada—
M o n t r e a l _________
T o r o n t o _ ............
W i n n i p e g _________
O t t a w a ....................
H a l i f a x ....................
Q u ebec. .
V a n c o u v e r ..............
H a m i l t o n .................
S t . J o h n ............ .
L o n d o n ....................
V i c t o r i a ................
C a lg a r y . . . . .
T ota l C anada .

I

33.581.868;
22.680,702
10.720.748
2,844.743
1.999.276
2.017.955,
2,594,217;
1.598,218
1.461,936
J,274,670
1.363,027
) .019.628 N
82,118,560

26,672,428
21,048.634
7,245,874
2.526,633
1.760.602
1.709.041
l,7 1 0 .3 I9 i
1,325.493
1,160.571
1.000.118
694.491
o t I n c lu d e d

+ 2 5 .8 (
+ 7.s
+ 48.0
+ 12.6
+ 13.6
+ 18.1
+ 51.71
+ 20.6,
+ 25.9
+ 27.4
+96.4|
n to t a l;

06,854.204 ■ + 22.8

20.589,392
10.322,292
6.270.587
2,097.416
1.933,887
1.007.404
1.074.065
1.174.516
1.081.674
949.380
931,132

____
54.032.405]

23,442,607
16.352.259
4 .5 1 5 .5 /0
2,536,636
1.509.934
1,021.24 1
1,33 125
1,114.409
966.622
895.651
543.025
54.922.371

120

THE CHRONICLE
T H E F I N A N C I A L S IT U A T IO N .

Many people are asking, some facetiously others
critically, why is Wall Street the chief storm centre
in the country at present? The answer to the question
is that Wall Street is in no sense the chief storm centre.
Those who make the inquiry fail to discriminate or
even to understand the figure of speech they use.
What constitutes in a given case a storm centre? Is
it where the storm brews or where the tempest breaks?
The simple truth is that New York is the reserve centre
of the^whole country. Some may have no little enjoy­
ment out of the idea that a few acres here should in
aqy sense influence the
million square miles of
territory the whole country contains, but the unques­
tionable fact is as we have stated it. When a specu­
lation is rife in a portion of the interior, and the float­
ing cash gets short at that point, a call is made by it
on^the nearest monetary supply which regularly,and
in the natural course of events, feeds the shortened
district; that secondary point, if in turn it gets scarce
of cash, calls for its relief on its ordinary supply depot;
and when that in turn is short, it calls on the next
largest supply; and so it ['goes that this little derange­
ment, which may have started away off in Nebraska, is
carried along from one banking centre to a larger
until it at length reaches New York. Now if we
have similar little cycles of speculation in progress
over the entire interior, the result must be little
ground-swells appearing everywhere over the broad
fields of the great W estand South, making for America’s
trade centre. Just as a large placid bay, sud­
denly struck by a sharp breeze at its remotest end,
raises little wavelets which are constantly creeping
towards the observer standing at the opposite end,
until all these inflated wind waves reach the observer
and dislodge him; so, and to a somewhat similar extent,
New York is to-day the remote and final centre of
the land speculation observable as in progress every­
where, as well as all other speculative movements
within the United States needing outside capi­
tal.
It may be asked, as New York is the reserve centre
of this hemisphere, is it not itself to blame for being so
imperfectly prepared for serving the needs of that
position ? We might say yes and no. Y et, when ad­
mitting fault, we should add that the embarrassment
has been brought about by means not wholly controlla­
ble by any fiscal agent. The fact is, the weak situa­
tion here and at the other large trade centres is caused
by a national disregard of the laws of trade. The na­
tional disregard of the laws of trade we refer to is the
continuation of a currency system possessing no ade­
quate provision for its orderly redemption. Such a
system as we have must at all times of business
quietness lead to currency congestion at our trade
centres, and at New York most seriously of all— a situa­
tion which results in hazardous investments. In
other words, when money is more plentiful than legiti­
mate trade can find uses for, lenders press their hold­
ings into occupations less conservative, to save the loss
of interest. This situation necessarily leads to the
fomenting of a spirit of extreme venturesomeness in
the effort to get loanable funds at work. When this
end has been attained, and surplus funds have been
forced out and gotten mixed up in business ventures

[V O L . UEX5SU .

of good and bad character, it is a hard road to turn
them into liquid assets.
We assume our readers remember what a large addi­
tion we showed last week in this column had been
made to the outstanding currency of the United States
during the 12 months ending with July 1 1906. That
total was found to be 147^ million dollars. A place
for the activity of that immense sum of new money
had to be found, and was found,and it exists to-day,
distinguished by the higher prices at which almost
everything rules. It was pure fun to have the values
rise, and a good many will think we are foolish to find
fault with such a situation, though it has left in some
quarters a pyramidic kind of advance (only the pyra­
mid stands on its small end) which necessarily
must produce suffering when a normal state of affairs
returns. For in that process of contraction, all the
communities within the 3j^ million square miles must
share in and cannot fail to suffer more or less from the
undoing of the work which has been so enjoyable.
Some ingenuity has been used by Secretary Shaw to
relieve the money market from its strain, present and
prospective. Apparently there are likewise natural
conditions which have recently been setting strongly
in favor of easier money. Bearing on this latter feat­
ure are the declining rates for foreign exchange, and
gold imports seemingly furthered by well-known
factors. First in support of that idea is the fiscal year’s
statement of merchandise imports and exports, which
the Government record for June, published this week,
completes, indicating on its face a net excess of ex­
ports for the twelve months ending with July 1 1906
of $517,148,233. We have written on this annual
trade statement in an article to be found on subse­
quent pages, and need not enlarge upon it here ex­
cept to say that after making all deductions in the
export balance which any reasonable construction of
the figures would seem to call for, a considerable re­
mainder in favor of the United States would appear
to be outstanding, left for future settlements. Then,
too, in addition to the foregoing, there are favorable
results to be reckoned with growing out of the develop­
ing crops, which at the moment appear to promise
well, notwithstanding some unfavorable rumors have
gotten afloat as the week closes; we pave the good
fortune, too, of a substantial demand for our surplus
breadstuffs. Europe seems to hold out a promise of
needing all of our wheat that we shall have left to
spare for foreign consumers. This foreign demand,
coupled with a decline in the value of that cereal here,
has already set in motion a freer outflow. Shortly,
also, the new crop of cotton will begin to move, and
there is, according to present advices, an enlarging
and pressing demand awaiting it from the world of
spinners.
It is quite surprising to note what a body of
incidents have this week been made tributary to the
successful floating of the first installment of the Pana­
ma 2% s. We are half inclined to think that our
worthy Secretary of the Treasury has used his gift
for devices to meet emergencies so successfully in the
past that he has overdone the demands of the present
occasion. What we presume he has been seeking to
accomplish was (1) to get a .g ood price for the 30
millions of bonds offered, and (2) to get as much new

July 21 1906. J

THE CHRONICLE.

c u r r e n c y a f lo a t a s p o s s i b le ,f o r t h e d o u b l e r e a s o n t h a t
e a c h b o n d s o u s e d w ill b e w it h d r a w n fr o m t h e m a r k e t
w h ile th e c u r r e n c y w ill, h e t h in k s , a id t o m a k e th e
m o n e y m a r k e t e a s y . I t w ill b e r e m e m b e r e d t h a t
M r . S h a w s e n t o u t n o tic e s la s t S a tu r d a y (J u ly 1 4 ) to
a c o n s id e r a b le n u m b e r o f n a tio n a l b a n k s d e s ig n a tin g
th e m a s G o v e r n m e n t d e p o s ita r ie s a n d in fo r m in g th e m
th a t th e G o v e r n m e n t b o n d s to s e c u re s u c h d e p o s its
a s m a y b e m a d e w ith th e m m u s t b e p la c e d w ith th e
G o v e r n m e n t b y t h e c lo s e o f b u s in e s s W e d n e s d a y
( 1 8 t h .) S e c o n d , c o in c id e n t ly w it h t h e d e s ig n a t io n
o f th e s e n e w d e p o s ita r ie s th e S e c r e ta r y c a lle d th e
lo a n o f 8 1 0 ,0 0 0 ,0 0 0 m a d e b y t h e G o v e r n m e n t t o v a r i­
o u s fin a n c ia l in s t it u t io n s w it h S t a t e a n d m u n ic ip a l
b o n d s a s s e c u r ity , in d ic a tin g h is in te n tio n to h a v e
G o v e r n m e n t b o n d s s u s b titu te d fo r th e S ta te a n d
m u n ic ip a l b o n d s . I n o r d e r , h o w e v e r , n o t to c o n tr a c t
t o o s e r io u s ly th e a m o u n t o f m o n e y in th e b a n k s , th e
S e c r e ta r y a g r e e d to d e p o s it w ith th e n e w d e p o s ita r ie s
a b o u t 8 7 ,0 0 0 ,0 0 0 o f t h e 8 1 0 ,0 0 0 ,0 0 0 c a lle d in . T h e
8 1 0 ,0 0 0 ,0 0 0 h a d t o b e p a id in F r id a y (t h e 2 0 t h ) ,
th e d a y fo r o p e n in g th e b id s fo r th e n e w b o n d s .
U n d e r th e d a te o f J u ly 1 8 th th e S e c r e ta r y fu r th e r
s ta te d th a t b id d e r s m u s t p a y fo r th e ir b o n d s o n d e ­
m a n d , o r if t h e y d e s ir e t h e y m a y p a y fo r t h e m im m e d i­
a te ly ; b u t in c a s e th e b o n d s a r e n o t p a id fo r im m e d i­
a t e ly th e b id d e r s w ill b e r e q u ir e d t o p a y a c c r u e d in ­
te r e s t. F in a lly , M r . S h a w n o tifie d p u r c h a s e r s th a t
if a n y d e s ir e d t o u s e a p o r t io n o f th e p u r c h a s e d b o n d s
a s a b a s is fo r c ir c u la tio n , p a y m e n t m ig h t b e d e fe r r e d
a t le a s t o n a p o r tio n th e r e o f u n til th e n o te s c a n b e
p rin te d . In su c h c a se th e o rd e r fo r th e c u rr e n c y m u s t
b e p la c e d a t o n c e a n d th e p r e m iu m a d v a n c e d o n th e
b o n d s . T h e a c c r u e d in te r e s t c a n b e p a id w h e n th e
b o n d s a r e p la c e d w ith th e T r e a s u r e r a s s e c u r ity fo r
c ir c u la tio n . T o th e fo r e g o in g th e S e c r e ta r y a d d e d th a t
th e e x te n t t o w h ic h th is p r iv ile g e c a n b e w is e ly
g r a n te d w ill d e p e n d u p o n t h e a m o u n t o f b o n d s t h a t
m a y b e d e s ir e d a s a b a s is fo r c ir c u la t io n .
V ir g in ia is o n e o f th e S t a t e s w h ic h h a v e e n a c te d
la w s th e p r e s e n t y e a r u n d e r ta k in g to r e d u c e p a s s e n g e r
r a te s o n r a ilr o a d s t o 2 c e n ts a m ile . A n a t t e m p t
t o e n fo r c e th e s ta tu te in t h a t S ta te h a s ju s t m e t w ith
d e fe a t in th e c o u r t s . T h e V ir g in ia la w is r a th e r a
p e c u lia r o n e . I t w a s a p p r o v e d M a r c h 1 5 1 9 0 6 .
T h e r e is a b o d y in t h a t S t a t e c a lle d t h e S t a t e C o r p o r a ­
tio n C o m m is s io n . T h e n e w s ta tu te r e q u ir e s th is
C o r p o r a tio n C o m m is s io n “ to fix a n d p r e s c r ib e a s c h e d ­
u le o f r a te s fo r th e t r a n s p o r t a t io n o f p a s s e n g e r s b y
a ll t r a n s p o r ta tio n c o m p a n ie s o r c o r p o r a tio n s ” a n d
p r o v id e s th a t “ u n til s u c h r a te s a r e p r e s c r ib e d b y th e
S ta te C o r p o r a tio n C o m m is s io n , a ll tr a n s p o r ta tio n c o m ­
p a n ie s o r c o r p o r a tio n s o p e r a te d b y s t e a m s h a ll a t a ll
tim e s k e e p o n s a le a t e a c h a n d e v e r y s ta tio n m ile a g e
b o o k s o f 5 0 0 m ile s a n d o v e r .” T h e r a t e is n o t t o
e x c e e d 2 c e n ts a m ile a n d th e m ile a g e b o o k s a r e to
b e “ g o o d a n d v a lid fo r th e u s e o f a n y d e p e n d e n t h o u s e ­
h o ld m e m b e r o f th e fa m ily o f th e p a r t y t o w h o m is s u e d ,
d w e llin g u n d e r th e s a m e r o o f, w ith in o n e y e a r fr o m th e
d a t e o f s a m e .” A t t h e in s t a n c e o f J o h n W . C h u r c h ­
m a n o f A u g u s t a , t h e a u t h o r o f t h e b ill ( t h e la w is
k n o w n a s t h e C h u r c h m a n b ill) th e a t t o r n e y o f th e
c o m m o n w e a lth , C a r te r B r a x to n , in s titu te d s u it a g a in s t
th e B a ltim o r e & O h io R R . to c o m p e l th a t c o m p a n y
to p la c e o n s a le m ile a g e b o o k s o f 5 0 0 m ile s e a c h a t
8 1 0 p e r b o o k . T h e r a ilr o a d , th r o u g h its a tto r n e y ,

121

d e m u r r e d o n a v a r ie ty o f g r o u n d s a n d J u d g e H e n r y W .
H o lt in th e U n it e d S t a t e s C o u r t a t S t a u n t o n , V a .,
h a s th is w e e k s u s ta in e d th e d e m u r r e r o n s e v e r a l c o u n ts .
A m o n g th e o b je c tio n s r a is e d a g a in s t th e s ta tu te w a s
th a t it v io la te d th e F o u r t e e n th A m e n d m e n t o f th e
C o n s titu tio n o f th e U n ite d S ta te s . I t w a s u rg e d th a t
it w a s u n c o n s t it u t io n a l in t h a t it r e q u ir e s th e r a ilr o a d
c o m p a n ie s t o e n te r in to a c o n t r a c t , a g a in s t th e ir w ill,
w h ic h d is c r im in a te s in fa v o r o f p a r tie s a b le to b u y
tic k e ts a t w h o le s a le r a te s a n d a g a in s t p e r s o n s tr a v e l­
lin g u n d e r th e la w fu lly e s ta b lis h e d r a te s — th e r ig h t o r
p r iv ile g e o f c o n t r a c t in g b e in g b o t h a lib e r t y a n d a
p r o p e r ty r ig h t a n d b o th b e in g g u a r a n te e d b y th e
F o u r t e e n th A m e n d m e n t. J u d g e H o lt a p p a r e n tly s u s ­
ta in s th is c o n t e n t io n . A t a ll e v e n ts th e C o u r t d e c id e s
t h a t t h e A c t o f M a r c h 1 5 1 9 0 6 is in v io la t io n o f th e
F o u r te e n th A m e n d m e n t a n d h e n c e v o id . A c c o r d in g ­
ly , th e p r o c e e d in g w a s d is m is s e d . T h e c o n s titu tio n ­
a lity o f th e A c t is n o w b e in g c o n te s te d b e fo r e th e C o m ­
m is s io n it s e lf.. E la b o r a t e a r g u m e n t s b o t h f o r a n d
a g a in s t th e m e a s u r e h a v e b e e n m a d e th e p r e s e n t w e e k
b e fo r e t h a t b o d y a n d it w ill b e in t e r e s t in g t o s e e w h a t
p o s it io n w ill b e e v e n t u a lly t a k e n b y it r e g a r d in g t h e
m a tte r.
N o n e o f th e im m ig r a tio n m e a s u r e s u n d e r c o n s id e r a ­
tio n b y C o n g r e s s a t its r e c e n t s e s s io n b e c a m e a la w
b e fo r e a d jo u r n m e n t . T h e r e s e e m t o b e w id e d iffe r ­
e n c e s o f o p in io n a s t o h o w fa r it w ill b e w is e t o g o in
th e e n d e a v o r t o r e s tr ic t t h e in flu x o f n e w s e ttle r s .
I n th e m o n th ly c ir c u la r o f F is k & R o b in s o n fo r J u ly
th e r e is a d is c u s s io n o f t h e s u b je c t w h ic h p r e s e n ts s o m e
n e w v ie w s . I t is u r g e d t h a t a c o u n t r y ’s c itiz e n s a r e
its b e s t a s s e ts , a n d a m illio n o f h e a lth y , a b le -b o d ie d
im m ig r a n ts , e v e n if u n e d u c a te d a n d p o s s e s s in g b u t
th e ir s t r e n g t h , c o u ld e a s ily a d d 8 1 0 0 ,0 0 0 ,0 0 0 a n n u a lly
t o th e w e a lt h o f th e n a t io n a n d b r in g u p th e ir c h ild r e n
u n d e r c o n d itio n s in s u r in g a s a tis fa c to r y a n d p a tr io tic
c la s s o f c itiz e n s . T h e w r ite r c o n te n d s t h a t p r o fe s ­
s io n a l, te c h n ic a l a n d b u s in e s s m e n w h o in a s e n s e
c o n s titu te th e d is t r ib u tin g a p p a r a tu s o f a n a tio n a r e
n o t e s s e n tia l. W h a t is n e e d e d a r e im m ig r a n t s w ith
g o o d , s o u n d b o d ie s . C o m p a r e d w ith th is , e d u c a tio n a l
r e q u ir e m e n t s o r th e fe w d o lla r s t h e y b r in g a r e o f s m a ll
c o n s e q u e n c e . M a k e th e h e a lth r e g u la tio n s a s d r a s tic
a s m a y b e n e c e s s a r y , b u t le t th e c o u n t r y h a v e a n y
a m o u n t o f im m ig r a n ts w h o c a n la b o r a n d p r o d u c e
so m e th in g .
T h e c h ie f d iffic u lty in th e im m ig r a t io n s it u a t io n , it
is fu r th e r u r g e d , is n o t th e n u m b e r s w h ic h s e e k e m ­
p lo y m e n t a n d h o m e s in th e U n ite d S ta te s , b u t th e ir
s a tis fa c to r y d is t r ib u tio n . I f th e v a s t th r o n g n o w
c r o w d in g o u r s h o r e s c o u ld b e la n d e d a t th e p r in c ip a l
p o r ts b e tw e e n B o s to n a n d G a lv e s to n , th e im m ig r a tio n
q u e s tio n w o u ld a ttr a c t o n ly p a s s in g n o tic e , s o q u ic k ly
w o u ld th e n e w c o m e r s b e a b s o r b e d in w e a lth -p r o d u c in g
e n te r p r is e s . A m e r ic a o ffe r s e v e r y k in d o f c lim a t e .
G iv e to th e n e w c o m e r c lim a tic c o n d itio n s c o m p a r a b le
w it h t h o s e in w h ic h h e p r e v io u s ly liv e d a n d h e w ill
b e c o m e a s e ttle r . “ T h e im p o r ta n c e o f p la c in g h im
u n d e r fa v o r a b le c o n d itio n s is s e lf-e v id e n t . F o r in ­
s ta n c e , if th e I ta lia n s w e r e d is t r ib u te d a m o n g th e
S o u t h e r n S t a t e s , w h e r e o u t d o o r la b o r is p o s s ib le
th r o u g h o u t th e y e a r , th e y w o u ld b e c o m e h o m e ­
o w n e r s , a n d t h e a n n u a l m ig r a t io n o f th is d e s ir a b le
la b o r in g c la s s w o u ld p r a c t ic a lly c e a s e , a s w o u ld a ls o
th e p r a c tic e o f s e n d in g in th e a g g r e g a te la r g e s u m s o f

122

THE CHRONICLE.

money annually to their native land.” It seems to us
that there is force in this contention of the banking firm
mentioned, and we also agree with the firm in their
statement that it is of prime importance that the
National Government, State governments and private
organizations exert themselves in every proper way
to bring about a better distribution of the immigrants
and to do everything in reason to encourage rather
than discourage this "foreign invasion.”
There was no change in official rates of discount by
any of the European banks this week; compared with
last week unofficial or open market rates were 3d?
of 1% higher at London and at Paris. The cables
on Thursday and on Friday reported more or
less disturbance in London and on the Continental
markets as the result of the serious Russian situation,
which indicated the possible precipitation of a crisis.
The new Russian bonds were weak in London at the
lowest prices yet recorded; at Paris there was a heavy
fall in these securities; at St. Petersburg the market
1was unsettled and while the Berlin bourse was firm,
transactions were restricted.
The feature of the statement of the New York Asso­
ciated Banks last week was the important increase of
$ 6 , 3 6 5 , 7 2 5 in surplus reserve. This was due to a
gain of $ 3 , 2 6 2 , 8 0 0 in cash and to a reduction of $ 3 , 1 0 2 , 9 2 5 in reserve requirements, the latter caused by
a decrease of $ 1 2 , 4 1 1 , 7 0 0 in deposits; loans were re­
duced $ 1 4 , 3 4 4 , 7 0 0 . The bank statement of this week
should reflect, among other items, the receipt through
telegraphic transfer of $ 4 4 2 , 0 0 0 from San Francisco;
also the surrender, through the Sub-Treasury, of $ 7 , 000,000 public deposits by banks.

T h e in d ic a tio n s a t t h e c lo s e o f th e w e e k p o in t t o
t h e s u c c e s s fu l f lo t a t io n o f t h e $ 3 0 ,0 0 0 ,0 0 0 P a n a m a
C a n a l b o n d s w h ic h th e S e c r e ta r y o f th e T r e a s u r y
r e c e n tly o ffe r e d fo r p u b lic s u b s c r ip tio n . T h e b id s fo r
t h e s e b o n d s w e r e o p e n e d a t 4 :3 0 in t h e a f t e r n o o n o f
F r id a y a n d o ffic ia l a n n o u n c e m e n t o f t h e r e s u lt s o f
t h e b id d in g w ill n o t b e m a d e u n t il t h e d e ta ils s h a ll b e
c o m p le te d .

[Yol. l x x x i i i .

T h e B a n k o f E n g la n d r a te o f d is c o u n t r e m a in s u n ­
c h a n g e d a t 3 3 4 % • T h e c a b le r e p o r ts d is c o u n ts o f s ix t y
to n in e t y -d a y b a n k b ills in L o n d o n a t 3 3 4 @ 3 3 4 % ; th e
o p e n m a r k e t r a te a t P a r is is 2 3 4 @ 2 ^ 4 % a n d a t B e r lin
a n d F r a n k fo r t it is 3 3 4 @ 3 3 4 % - A c c o r d in g t o o u r
s p e c ia l c a b le fr o m L o n d o n , th e B a n k o f E n g la n d lo s t
£ 3 3 ,9 7 3 b u llio n d u r in g th e w e e k a n d h e ld £ 3 7 ,3 3 1 ,9 9 2
a t t h e c lo s e o f t h e w e e k . O u r c o r r e s p o n d e n t fu r t h e r
a d v is e s u s t h a t t h e lo s s w a s d u e t o s h ip m e n t s t o t h e
in te r io r , th e d e ta ils o f th e m o v e m e n t in to a n d o u t o f
th e B a n k b e in g a s fo llo w s : I m p o r t s , £ 3 9 ,0 0 0 , w h o lly
b o u g h t in th e o p e n m a r k e t ; e x p o r t s , £ 2 0 ,0 0 0 to
S o u t h A m e r i c a ; s h i p m e n t s , £ 5 3 , 0 0 0 net t o t h e
in te r io r o f G r e a t B r ita in .
The foreign exchange market was quite dull
this week, with fluctuations within a very narrow
range until Friday, when the tone grew strong be­
cause of higher discounts in London. The gold
engagement which was announced on Monday
had no perceptible influence upon the market, for
it seemed likely that cover for the importation
had been secured last week. There was no specula­
tive manipulation of exchange in the direction of lower
rates in order to facilitate imports of gold; no evidence
of pressure of bills drawn for the account of foreign fire
insurance companies, and there were no traces of loan
drafts other than those of that character which have
been recently drawn for the direct employment of
foreign capital in carrying securities. There did not
appear to be any special inquiry for remittance, ex­
cept immediately prior to the closing of the European
mails, and even then the supply of bills seemed to be
sufficient to meet the inquiry without causing an}' ma­
terial advance in rates. The offerings of commodity
drafts were light and confined to grain, and rates for
such bills were firm. That a liberal supply of grain and
cotton drafts is expected when the season’s export
movement begins, appears to be indicated by the free
offerings of bankers’ bills for delivery in October and
in later months.
The amount of gold engaged in London on Monday
for shipment hither was variously stated at from
$ 2 , 0 0 0 , 0 0 0 to $ 2 , 5 0 0 , 0 0 0 , but the only consignment
that could be traced was one of £ 3 2 0 , 0 0 0 for a promi­
nent New York bank; later in the week this institution
was reported to have secured-$200,000 more, and there
was an engagement of $ 2 5 0 , 0 0 0 by another importer,
making a traceable total of $ 2 , 0 5 0 , 0 0 0 engaged in
London during the week. Imports from Australia
have been effected, one banking house announcing
the procurement of £ 3 0 0 , 0 0 0 on Tuesday; later it was
stated that an additional sum of $ 2 5 0 , 0 0 0 had been
secured. The fact that there was an arrvial on Thurs­
day of a small consignment of $ 6 0 , 0 0 0 from London,
which had not previously been reported as engaged,
seems to indicate that bankers, having facilities there­
for, are seeking to take advantage of favorable condi­
tions of the London bullion market to bring out even
comparatively small amounts of gold, refraining
from announcing their engagements, in order to pre­
vent competition for the metal. Therefore it seems
likely that the actual amount of current importations
will not be disclosed until the arrival of the gold.

Money on call, representing bankers’ balances,
loaned at the Stock Exchange during the week at 3 %
and at 134 %> averaging about 2)4%; banks and trust
companies loaned at 2% as the minimum. On Mon­
day loans were at 3 % and at 134%, with the bulk of
the business at 2%%. On Tuesday and on Wednes­
day transactions were at 2%% and at 2%, with the
majority at 234%- On Thursday loans were at 234%
and at 2%, with the bulk of the business at 234 %.
On Friday transactions were at 234% and at 234%,
with the majority at 234%- Time contracts on good
mixed Stock Exchange collateral were slightly easier
this week, especially for those for the shorter dates.
Quotations were 334 @4% for sixty and 434 @434%
for ninety days, 4^4% for four, 5@534% for five
and 534@5M% for six to seven months; several
prominent railway companies are reported to be in
the market for over-the-year money. Commercial
paper was dull with a small local business; some sales
were reported to interior bankseat 534 @ 5/4% for sixty
to ninety-day endorsed bills receivable, 534@534% for
N o m in a l q u o ta tio n s fo r s te r lin g e x c h a n g e a r e 4 8 2 3 4
prime, and 6% for good four to six months’ single
@ 4 8 3 fo r s ix ty d a y a n d 4 8 5 3 4 fo r s ig h t. O n S a tu r ­
names.

d a y o f la s t w e e k th e m a r k e t w a s ir r e g u la r a n d g e n e r -

a lly lo w e r , w ith lo n g o ff, c o m p a r e d w ith r a te s o n th e
p re v io u s d a y , 2 0 p o in ts to 4 8 1 7 0 @ 4 8 1 8 0 , sh o r t
5 p o in ts to 4 8 4 5 0 @ 4 8 4 6 0 a n d c a b le s 5 p o in ts to
4 8 4 8 5 (1 7 4 8 4 9 5 . O n M o n d a y lo n g r o s e 5 p o in ts to
4 8 1 7 5 @ 4 8 1 8 5 , s h o r t fe ll 5 p o in t s t o 4 8 4 4 5 (1 7 4 8 4 5 5
a n d c a b le s 1 0 p o in ts to 4 8 4 7 5 @ 4 8 4 8 5 . O n T u e s ­
d a y lo n g a d v a n c e d 5 p o in ts t o 4 8 1 S 0 @ 4 8 1 8 5 . s h o r t
d e c lin e d 1 0 p o in ts t o 4 8 4 4 0 @ 4 8 4 4 5 a n d c a b le s 1 0
p o in ts to 4 8 4 7 0 @ 4 8 4 7 5 . O n W e d n e s d a y lo n g w a s
u n c h a n g e d b u t s h o r t ro se 5 p o in ts to 4 8 4 4 5 @ 4 8 4 5 0
a n d c a b le s 5 p o in ts to 4 8 4 7 5 @ 4 8 4 8 0 . O n T h u r s ­
d a y lo n g a d v a n c e d 5 p o in ts to 4 8 1 7 5 @ 4 8 1 9 0 a n d
c a b le s 5 p o in ts t o 4 8 4 7 5 @ 4 8 4 8 5 ; s h o r t w a s u n ­
c h a n g e d . T h e m a r k e t w a s s tr o n g o n F r id a y b e c a u s e
o f h ig h e r d is c o u n ts in L o n d o n ; lo n g a n d s h o r t r o s e 1 0
p o in ts a n d c a b le s 1 5 p o in ts .
T h e fo llo w in g s h o w s d a ily p o s te d r a te s fo r s te r lin g
e x c h a n g e b y s o m e o f th e le a d in g d r a w e r s :
T ues.,
F r i.,
M on ..
W ed..
Thurs.j F r i.,
J u ly 13 Ju ly 16 J u ly 17 J u ly IS Ju ly 19 J u ly 20

Brown
Bros. & Co..........
Baring
& Co
........
Bank British
North America..
Bank of
Montreal .
___
Canadian Bank
of Commerce ___
Heidelbach, Ickelheimer & Co_____
Lazard
Freres ________
Merchants' Bank
of Canada____ ..

,60 days 4
Sight. _ 4
160 days 4
_\Sight.. 4
i60 days 4
. 1Sight.. 4
60 days 4
. .Sight . 4
60 days 4
. iSight.. 4
,60 days 4
. Sight.. 4
160 days 4
. Sight.. 4
■60 days 4
4

S2H
85 }!
S2H
So K
S3
86
S3
86
83
86
82 H

S5H
y2
SoH

82

83
86

82 H
S5M

S214

853-2
83
86
S3
86
S3
86
82
S5H

S2H

853-3
83
S6

82 H
85>|
S2J4
8533
83
S6
S3
86
S3
86
S2J-3
853-3
S23-3
85 3-3
S3
S6

8233
8533
8233
8533
83
86
83
86
83
86
8233
8533
82.33
8533
83
86

S233
8533
S23-3
S533
83
8533
S3
8533
S3
8533
8233
8533
8233
8533
S3
S533

8233
853-3
8233
8533
S3
8533
S3
8533
83
8533
8233
8233
S533
83
So 3^

T h e m a r k e t c lo s e d o n F r id a y a t 4 8 1 8 5 @ 4 8 2 fo r
lo n g , 4 8 4 5 5 (1 7 4 S 4 6 5 fo r s h o r t a n d
4 8 4 9 0 @ 4 85
fo r c a b le s . C o m m e r c ia l o n b a n k s 4 8 1 5 0 @ 4 8 1 6 0 a n d
d o c u m e n ts fo r p a y m e n t 4 8 0 % @ 4 8 1 % . C o tto n fo r
p a y m e n t 4 8 0 % @ 4 8 1 , c o tto n fo r a c c e p ta n c e 4 8 1 5 0
@ 4 8 1 6 0 a n d g r a in fo r p a y m e n t 4 8 1 % @ 4 8 1 % .
T h e f o l l o w i n g g i v e s t h e w e e k ’s m o v e m e n t o f m o n e y
to a n d fr o m th e in te r io r b y th e N e w Y o r k b a n k s :
Week ending J u ly 20 1906.

Received by
Shipped by
N . Y . Banks N . Y . Banks.

N et Interior
M ovem ent.

Currency__________ . . ____ . .
Gold _________ ___________

$8,158,000
909,000

S3,721,000 Gain §4,437,000
704,000 Gain
205,000

Total gold and legal tenders_____

$9,067,000

S4,425,000 Gain S4,642,000

M ith t h e S u b -T r e a s u r y o p e r a t io n s t h e r e s u lt is a s
fo llo w s :
Into
B a n k s.

Out o/
B a n k s.

Banks' interior movem't as above__
Sub-Treas. oper. and gold Imports__

$9,067,000
33,200,000

84.425.000 Gain S4,642,000
39.200.000 Loss 6,000,000

Total gold and legal tenders.. . .

S42.267.000

$43,625,000 Loss $1,358,000

W eek

aiding

20 1906.

J u ly

N et Change in
Bank Holdings.

T h e fo llo w in g in d ic a te s th e a m o u n t o f b u llio n in th e
p rin c ip a l E u r o p e a n b a n k s :
19 1906 •
J u ly 20 1905.
I Total. j Gold.
Silver.
1 Total.
£
1
£
£
£
£
----------- 1 37,331,992 38,275,642,
_______ 38,275.642
42,494,01 8 159,363,684 116.928.758: 44,387,004 161,315,762
11.368.000 45,474,000 36.527,000 12.176.000 48,703,000
6.006.000 115.273.000 109,458.000 6.014,000 115,472,000
12.562.000 59,441,000 40,971,000 12.956.000 59,927,000
24.614.000 39,787,000 14,805,000 22,304 000 37,169,000
3,991,100! 33,442,100 22,786.000 3,477,200 26,26.3,200
5.754.300 11,274,800 6,381 800 6,195,500 12,577,300
1,600.333 4,801.000 3.175 333 1,587,667 4,703,000
- ............i 3.876,000 3,575,000
.1 3,575,000

J u ly

Bank o /
Gold.
£

England.. 37,331,992
France__ 116.869,666
Germany a 34.106.000
Russia__ 109.267,000
Aus.-Hunb 46.sr9.000
Spain___ 15.173.000
Italy____ 29.451.000
Vth'lands 5.520.500
Xat.Belg.a 3,200,667
Sweden . 3,876,000

123

T H E CHRONICLE.

J u l y 21 1900.]

S ilver.

Total V .■k . 401.674,825 108,389,751 510.004,576398,943.533 10!) 097.371 508,040,904
1'rev v. ’k. 401,509,055 108,509,058 510.018.113 395,223.676 110,044,593 505,208,209
a The division (between cold and silver) clven in our table of coin and bullion
in the Bank of Germany and the Bank of Belclum is made from the best estimate
we are able to obtain: In neither case is It claimed to be accurate, as those banks
make no distinction in their weekly returns, merely reporting the total gold and
silver: but we believe the division we make Is a close approximation.
b The Austro-Hungarian hank statement is now issued In Kronen and Heller In­
stead of Gulden and Kreutzer. The reduction of the former currency to sterling
Pounds was by considering the Gulden to have the value of 50 ccDts. As the Kronen
has really no greater value than 20 cents, our cable correspondent In T.ondon, In
order to reduce Kronen to Pounds, has altered the basis of conversion by dividing
the amount of Kronen by 24 instead of 20.

THE RUSSIAN CRISIS.

D e s p a tc h e s fr o m S t. P e te r s b u r g th is p r e s e n t w e e k
h a v e b e e n o n c e m o re o f a c h a ra c te r su c h a s to su g g e st
th e im m e d ia t e a p p r o a c h o f a n o t h e r c r is is in th e a ffa ir s
o f th e R u s s ia n G o v e r n m e n t. I t m u s t b e a d m itte d
th a t th e c r is is w h ic h n o th in g w o u ld e n d b u t fo r c e
h a s a p p e a r e d so fr e q u e n tly in th e R u s s ia n n e w s o f
th e p a s t tw e lv e m o n th s a s to r e n d e r th e a v e r a g e r e a d e r
a little c a u tio u s a b o u t d r a w in g in fe r e n c e s . A t th e
s a m e tim e th e n e w s o f th is w e e k w a s o f m o r e th a n
u s u a l in t e r e s t , in t h a t it a p p a r e n t ly m a r k e d th e a r r iv a l
o f a s itu a tio n in w h ic h th e c o n te s t b e tw e e n th e a u ­
to c ra c y a n d D u m a h a d re a ch e d a sta g e w h ere o n e
o r th e o th e r m u s t d e fin ite ly y ie ld , a n d w ith p o s itiv e
r e s u lt s f o r t h e 'f u t u r e .
It h a s b e e n o b v io u s , th r o u g h o u t th e e v e n ts o f th e
p a st fe w m o n th s , th a t th e re w e re tw o p h a se s to w h a t
m ig h t b e c a lle d th e R u s s ia n r e v o lu tio n a r y m o v e m e n t
— o n e , th e a tta c k s o n p r o p e r ty b y th e r e v o ltin g p e a s ­
a n ts o f in te r io r t o w n s ; th e o th e r , th e p r o lo n g e d a n d
s tu b b o r n s e r ie s o f m o v e s b y w h ic h th e n e w R u s s ia n
P a r lia m e n t s h o w e d its d e te r m in a tio n to d e p r iv e th e
C z a r o f a g o o d p a r t o f th e a r b itr a r y p o w e r w h ic h , u n d e r
h is o w n g r a n t o f p o p u la r s u ffr a g e , h e h a d r e ta in e d .
W e s h a ll n o t a t p r e s e n t c o m m e n t a t a n y le n g th u p o n
th e m a r a u d in g a tta c k s o n p r o p e r ty o r u p o n th e o c c a ­
s io n a l e ffo r ts a t p e r s o n a l v io le n c e o r a s s a s s in a tio n o f
p u b lic o ffic e r s . T h e s e o u tb r e a k s a r e , in o u r ju d g m e n t ,
n o t s o m u c h m a r k s o f r e v o lu t io n , a s t h e te r m is
u s u a lly u n d e r s to o d , a s th e y a r e o f a n a r c h y . T h e
fe e lin g t h a t th e G o v e r n m e n t in c o n tr o l is fe e b le , a n d
in m a n y r e s p e c ts p o w e r le s s , is b o u n d to s e t lo o s e a
c e r t a in c la s s in a n y c o m m u n it y w h o s e in s t in c t is
p lu n d e r , a n d w h o s e iz e o n s u c h o c c a s io n s to s e r v e
th e ir o w n p u r p o s e s . I t w ill n o t h a v e e s c a p e d th e
r e c o lle c tio n o f r e a d e r s o f h is to r y t h a t a n o t w h o lly
d is s im ila r p e r io d o f p r o v in c ia l a n a r c h y p r e v a ile d in o u r
o w n c o u n t r y d u r in g th e u n h a p p y p e r io d w h ic h fo l­
lo w e d th e c lo s e o f th e R e v o lu t io n a r y W a r a n d th e
a d o p tio n o f th e C o n s titu tio n . In o th e r w o r d s , th e
p e a s a n t d e m o n s tr a tio n s a r e s y m p to m s r a th e r th a n
ca u ses.
W h e n , h o w e v e r , o n e c o m e s to c o n s id e r th e r e la tio n s
b e tw e e n th e D u m a a n d th e C z a r it is a t o n c e a p p a r e n t
t h a t a p e c u lia r c r is is in g o v e r n m e n t is a t h a n d . W e
h a v e p o in te d o u t in p r e v io u s d is c u s s io n s o f th is s u b je c t
th a t tw o o f th e p o w e r s w h ic h h a d b e e n w ith h e ld fr o m
th e n e w R u s s ia n L e g is la tu r e w e r e s u c h a s h a v e g e n e r ­
a lly b e e n r e g a r d e d a s in d is p e n s a b le to g e n u in e ly p o p u ­
la r g o v e r n m e n t . W e r e fe r , fir s t , to c o n t r o l b y t h e
p o p u la r a s s e m b la g e o f th e m o n e y a p p r o p r ia tio n s a n d
p u b lic lo a n s ; s e c o n d , to th e p o w e r o f th is s a m e b o d y
t o v o t e o u t o f o ffic e a m in is t r y in w h ic h it h a s lo s t
c o n fid e n c e . O v e r th e s e tw o p r o b le m s th e C o u r t P a r t y
a n d th e P a r lia m e n ta r y P a r t y h a v e b e e n w r e s tlin g a t
S t. P e te r s b u r g e v e r s in c e th e D u m a w a s c o n v o k e d .
U n lik e th e p o p u la r d e m o n s t r a t io n s in th e p e a s a n t s ’
d is t r ic ts , th is s tr u g g le h a s b e e n c o n d u c te d w ith s u ffi­
c ie n t d ig n it y o n e a c h s id e , a n d h a s in m a n y r e s p e c ts
b e e n n o t a t a ll u n lik e s u c h o th e r c o n te s ts o f th e s o r t
a s o c c u r r e d in th e E n g la n d o f th e fifte e n th c e n t u r y ,
a n d in o th e r n a tio n s a fte r it.
T h e e v e n t s o f th is w e e k , a s d e s c r ib e d fr o m S t . P e te r s ­
b u r g , in d ic a te r a th e r p la in ly th a t th e C z a r h a s b e e n
fin a lly fo r c e d to c o n c e d e to th e D u m a a v ir tu a l s h a r e
o f c o n tr o l o v e r th e p u b lic m o n e y s — a t a ll e v e n t s , s u c h

124

THE CHRONICLE.

is th e in fe r e n c e d r a w n fr o m th e I m p e r ia l a p p r o v a l o f a
D u m a m e a s u r e r e g a r d in g th e m a n n e r in w h ic h th e
fu n d s s h a ll b e r a is e d fo r fa m in e r e lie f. O n th e o th e r
h a n d , th e a n n o u n c e m e n t th is w e e k th a t th e G o r e m y ­
k in C a b in e t w o u ld b e r e t a in e d , in s p it e o f t h e fie r c e
a tta c k s o n its m e m b e r s b y th e D u m a a n d th e p r e s s ,
is ta k e n to m e a n th a t th e d e m a n d fo r a c a b in e t r e ­
s p o n s ib le to th e R u s s ia n P a r lia m e n t is u n q u a lifie d ly
r e je c te d .
N a t u r a lly , in s e a r c h o f t h e e x p e c t e d c r is is , in q u ir e r s
h a v e a t o n c e d ir e c te d th e m s e lv e s to th e p r o b a b le n e x t
s te p in th e s tr u g g le . O n T h u r s d a y o f th is w e e k , th e
D u m a is s u e d a n a d d r e s s to th e p e o p le o n th e la n d
q u e s tio n . O r ig in a lly , it h a d b e e n e x p e c te d th a t th is
d o c u m e n t w o u ld a r r a ig n th e I m p e r ia l G o v e r n m e n t fo r
o b s t r u c t in g t h e D u m a ’s r e fo r m p la n s . A t t h e la s t
m o m e n t, th e a d d r e s s w a s s h o r n o f its m o r e o ffe n s iv e
q u a litie s , b u t s till r e m a in e d a n a p p e a l to R u s s ia to s u s ­
ta in th e D u m a in its s tr u g g le . W e n o tic e th a t s o m e o f th e
d is p a tc h e s in tim a te t h a t th e C z a r is lik e ly n o w to d is ­
s o lv e th e D u m a a n d p r o c e e d to g o v e r n w ith o u t its
a s s is ta n c e . S u c h a r e s u lt is p o s s ib le ; a n y th in g in
R u s s ia is p o s s ib le ; b u t it d o e s n o t a p p e a r t o u s p r o b ­
a b le , a t le a s t u n til th e D u m a h a s c o m p le te d its le g is ­
la tiv e p r o p o s a ls in r e g a r d to r e fo r m o f la n d te n u r e in
th e a g r ic u ltu r a l d is t r ic ts . O n th is q u e s tio n , a n d o n
t h e d e m a n d fo r le g is la tio n w h ic h s h a ll e n la r g e th e
p o s s ib le fie ld fo r t h e a c t iv it ie s o f t h e R u s s ia n p e a s a n t
fa r m e r , th e D u m a is a u n it. N o t o n ly s o , b u t th e
I m p e r ia l G o v e r n m e n t its e lf h a s c o n c e d e d th e u r g e n c y
o f th e q u e s t io n , a n d , w h ile s t a t in g t h a t c o n fis c a tio n
o f p r iv a t e la n d is o u t o f th e q u e s t io n , h a s n e v e r th e le s s
e x p r e s s e d its r e a d in e s s to e n te r ta in a n y p r o p o s a l
w h ic h m ig h t c o m e fr o m th e p a r lia m e n ta r y s id e o n th e
q u e s t io n o f a g r ic u ltu r a l r e fo r m a n d a d d it io n t o th e
d o m a in c u ltiv a te d b y th e p e a s a n tr y .
W e h a r d ly s e e h o w t h e C z a r c o u ld d is m is s
th e D u m a
u n der su ch
c ir c u m s ta n c e s w ith o u t
b o t h w e a k e n in g h is o w n p o s itio n a n d p la c in g
h im s e lf a t a d is a d v a n ta g e in th e e n tir e s tr u g g le
w ith h is p e o p le .
M e n t io n is m a d e o f a p o s ­
s ib le “ c o u p d ’e t a t ,” t h e id e a a p p a r e n t ly b e in g d e r iv e d
fr o m th e a c t io n o f C h a r le s I o r C r o m w e ll, o r p e r h a p s ,
in m o r e m o d e r n d a y s , o f th e tw o N a p o le o n s . I n th e
p r e s e n t c a s e , h o w e v e r , th e C z a r is n o t s tr u g g lin g
a g a in s t a n o ld in s t it u t io n w h ic h h e d e s ir e s t o a b o lis h
fo r th e s a k e o f in c r e a s in g h is o w n p o w e r . H e is d e a l­
in g w ith a n o r g a n iz a tio n c r e a te d a n d c o n v o k e d b y
h im s e lf fo r th e p u r p o s e o f s ta n d in g b e tw e e n h is th r o n e
a n d w h a t a p p e a r e d to b e o v e r w h e lm in g r e v o lu tio n .
W e m u s t c o n fe s s o u r in a b ility to u n d e r s ta n d w h a t
c o u ld b e g a in e d u n d e r s u c h c ir c u m s ta n c e s b y a v io le n t
d is m is s a l o f th e P a r lia m e n t th u s c r e a te d , a n d w e c a n
e a s ily s e e w h a t m ig h t b e lo s t.
I t is tr u e t h a t , s in c e th e a s s e m b lin g o f
th e D u m a , th e C z a r h a s b e e n d riv e n fr o m
one
c o n c e s s io n to a n o th e r , u n til it w o u ld s e e m fa ir ly
r e a s o n a b le to s u p p o s e th a t th e r e v o lu tio n is ts o f
th e P a r lia m e n t a r e a w a r e th a t b y c o n s ta n t p r e s s u r e
t h e y w ill p r o b a b ly g e t w h a t o u t r ig h t v io le n c e m ig h t
n e v e r h a v e s e c u r e d . B u t m u c h a s t h e C z a r m a y d is ­
lik e th is p o p u la r a s s e m b la g e , w it h its o b s tin a te d e ­
m a n d s a n d its in c o n v e n ie n t p r e s s u r e o n th e I m p e r ia l
p o w e r , n e v e r th e le s s it m a y w e ll b e in th e e n d th e o n e
o r g a n iz e d b o d y o n w h ic h h e c a n r e ly t o p r e s e r v e h is
th r o n e . T h e a r m y is u n d o u b te d ly h o n e y c o m b e d w ith
s o c ia lis tic id e a s ; a ll a d v ic e s g o t o s h o w t h a t th e r e v o ­

[YOLu l x x x i i i .

lu t io n a r y s p ir it is a m o n g t h e s o ld ie r s in a d e g r e e w h ic h
c e r ta in ly n o o n e c o u ld h a v e a n tic ip a te d h a lf a d o z e n
y e a r s a g o . W i t t e , o n r e s ig n in g h is p o s t , d e c la r e d t h a t
h e h a d a t le a s t a c h ie v e d fo r h is Im p e r ia l m a s te r th r e e
th in g s — s o m e m e a s u r e o f g o v e r n m e n ta l r e fo r m w h ic h
w a s n e c e s s a r y , a la r g e p u b lic lo a n w h ic h w o u ld k e e p
th e G o v e r n m e n t in c r e d it, a n d a n a r m y r e o r g a n iz e d
th r o u g h th e n e w r e c r u its a n d th e d is b a n d in g o f th e
M a n c h u r ia n s o ld ie r s u n til d is s a tis fa c tio n h a d b e e n
la r g e ly e lim in a te d fr o m th e m ilita r y fo r c e s a n d th e
p r o te c tio n o f th e th r o n e b y th e a r m y w a s a ssu r e d .
B u t w h a t e v e r m a y b e s a id o f t h e fir s t t w o c la im s o f t h e
e x -P r e m ie r , h e h im s e lf, in th e lig h t o f r e c e n t d e v e lo p ­
m e n t s , w o u ld h a r d ly c la im t h a t th e th ir d w a s w e ll
fo u n d e d . A s a m a tte r o f fa c t, it h a s b e e n fo u n d th a t
th e n e w r e c r u its c a m e fr o m h o m e s w h e r e th e r e v o lu ­
tio n h a d b e e n a m a t t e r o f e x c itin g d is c u s s io n d u r in g
th e p r e c e d in g y e a r a n d b r o u g h t w ith th e m in to th e
a r m y th e r e v o lu tio n a r y p r o p a g a n d a w h ic h h a d b e e n
d is t r ib u te d in th e R u s s ia n h o m e s . W e s u b m it t h a t a
m o n a r c h th u s c o n s titu te d , a n d k n o w in g th e fa c ts a s h e
m u s t h a v e k n o w n th e m a fte r th e m u tin y in th e v e r y
r e g im e n t w h o s e u n ifo r m th e C z a r h im s e lf w e a r s o n
o c c a s io n s o f s t a t e , is h a r d ly in a p o s itio n to t r y th e
e x p e r im e n t o f a c o u p d ’e t a t ; a n d , f u r t h e r m o r e , w e f in d
o u r s e lv e s u n a b le t o s e e w h e r e in a s tr o k e o f th is s o r t
w o u ld b e n e fit h im .
T h e im m e d ia te p o litic a l fu tu r e o f R u s s ia is a r id d le
v e r y d iffic u lt t o r e a d . T h e r e a r e , h o w e v e r , s o m e t h in g s
r e a s o n a b ly c e r ta in a b o u t i t , a n d a m o n g t h e m is th e
fa c t th a t th e p r e s e n t s ta te o f a n a r c h y is m o s t lik e ly
to w o r k o u t its o w n s o lu tio n th r o u g h th e D u m a its e lf.
T h e t im e is p a s t , a p p a r e n t ly , w h e n e v e n a m ilit a r y
d ic ta to r s h ip u n d e r a la t t e r -d a y N a p o le o n is a p o s s i­
b ility in th e w a y o f b r in g in g o r d e r o u t o f th e c iv il
c h a o s in R u s s ia . T h e p r o b le m o f th e h o u r is t o d e fin e
th e a c tu a l p o w e r s a n d th e a c tu a l r e la tio n s o f th e
C r o w n , th e M in is tr y a n d th e P a r lia m e n ta r y a s s e m ­
b la g e . W h e n t h a t is fin a lly a n d d e fin ite ly d o n e , th e r e
w ill b e a t S t . P e t e r s b u r g a G o v e r n m e n t w h ic h c a n c o n ­
fr o n t w ith s o m e p r o s p e c t o f s u c c e s s b o th th e m a r a u d e r s
in th e p e a s a n t d is t r ic ts a n d th e m u tin e e r s in th e a r m y .
W h e th e r s u c h a n a d ju s tm e n t o f r e la tiv e p o w e r s is to
c o m e a b o u t w ith o u t e x p lo s io n o f v io le n c e d e p e n d s , fo r
t h e p r e s e n t a t a n y r a t e , o n t h e s e lf-r e s t r a in t o f th e
C z a r h im s e lf a n d h is I m p e r ia l c o u n s e llo r s .
T H E L IF E IN S U R A N C E E LE CT IO N S C A S E .

T h e a d m in is tr a tio n tic k e ts in th e th r e e g r e a t life
in s u r a n c e c o m p a n ie s a r e n o w b e fo r e th e p u b lic , a n d
th e s o -c a lle d a d v is o r y c o m m itte e o f th e I n te r n a tio n a l
P o lic y h o ld e r s A s s o c ia tio n h e ld a n o r g a n iz in g m e e tin g
in th is c ity o n th e 9 th . T h e c o m p o s itio n o f th is
c o m m it t e e is u n e x c e p t io n a b le , a n d it in c lu d e s m e n o f
n a tio n a l r e p u ta tio n ; y e t its p ro c e d u r e o n M o n d a y
g iv e s r e a s o n fo r d o u b tin g w h e th e r a n y r e a l g o o d is
lik e ly to c o m e fr o m it . M r . G . R . S c r u g h a m , w h o
b e a r s t h e t it le o f “ o r g a n i z a t i o n m a n a g e r ,” h a d a l r e a d y
d e n o u n c e d th e m e n n a m e d b y th e N e w Y o r k L ife
b o a r d a s p r o v e n u n tr u s tw o r th y b e c a u s e o f th e ir b e in g
n a m e d b y th e o ld m a n a g e m e n t , w h ic h is e q u iv a le n t
t o a s s e r tin g t h a t th e e x is t in g m a n a g e m e n t (c o n s id e r ­
a b ly c h a n g e d s in c e la s t y e a r a n d u n d e r a n o b v io u s
in c e n tiv e to p r e s e n t th e b e s t p o s s ib le tic k e t) is in ­
c a p a b le o f n a m in g g o o d m e n . A m o n g th e n e w m e n
w h o a r e c a lle d m e r e “ p a w n s ” a n d c o n v e n ie n t to o ls
fo r W a ll S tr e e t m a n ip u la to r s a r e e x -C o m p tr o lle r

J u l y 21 1906. J

THE CHRONICLE.

E c k e ls , P r e s id e n t R a v e n o f th e A tla n tic M u tu a l,
P r e s id e n t S e w a r d o f th e F id e lity a n d C a s u a lty a n d
P r e s id e n t S n o w o f th e H o m e F ir e . C e r ta in ly th e s e
m e n , o u t o f th e N e w Y o r k L ife t ic k e t , a r e n o t lia b le
t o b e u s e d b y o t h e r s , a n d t o c a ll t h e m “ p a w n s ” is
p r e ju d ic e a n d n o t e q u it y . Y e t th e a d d r e s s p u t o u t
t o th e p o lic y h o ld e r s o f th e tw o c o m p a n ie s b y th e
c o m m itte e a d o p te d th is la n g u a g e b y s a y in g th a t “ th e
s e lf -a p p o in t e d d ir e c t o r s a r e s t ill in c o n t r o l a n d w ill
r e m a in in c o n t r o l, e ith e r d ir e c tly o r th r o u g h th e ir o w n
n o m in e e s , u n le s s y o u a s p o lic y h o ld e r s d e c id e o th e r ­
w is e .’' T h e a d m in i s t r a t i o n t i c k e t in t h e M u t u a l w a s
n o t e v e n m a d e u p u n til e ig h t d a y s a fte r th e a d o p tio n
o f th is a d d r e s s , w h ic h th u s s o u g h t to d is c r e d it it in
advance.
T h e tic k e t in th e M u tu a l w a s m a d e u p o n T u e s d a y
la s t , ju s t in t im e t o b e file d a s r e q u ir e d b y t h e la w .
I t h a s b e e n r e c e iv e d w ith a s to r m o f p r o te s t b y th e
p e r s o n s w h o a r e m a n a g in g th e P o lic y h o ld e r s ’ A s s o c ia ­
tio n , b e c a u se th r e e m e n w h o a re o n th e c o m m itte e
w h ic h m e t o n t h e 9 t h a r e in c lu d e d . I t is a s s e r te d
t h a t th is is a d e s p ic a b le a n d e v e n a n u n la w fu l tr ic k ,
a n d la te r c h a r g e s a c t u a lly a v e r t h a t th e lis ts o f a d ­
d r e s s e s a s file d b y t h e M u t u a l a r e p u r p o s e ly m a d e im ­
p e r fe c t in o r d e r to o b s tr u c t th e ir u s e . T h e th r e e
n a m e s r e fe r r e d to a r e e x c e lle n t, a n d a lth o u g h th e
n o m in e e s s a y t h e y w ill n o t a c c e p t , th e r e is n o th in g
in th e s itu a tio n w h ic h m a k e s it im p o s s ib le fo r th e m ,
if e le c te d , to c o n tr ib u te th e ir a id to w a r d s r e fo r m ; th e y
m ig h t a lte r th e ir d e c is io n . H o w e v e r , w e d o n o t d is ­
c u s s th e s e c h a r g e s w h ic h , o n th e ir fa c e , a r e in te m ­
p e ra te a n d im p r o b a b le .
T h e s itu a tio n a s it is t o -d a y , w ith th e a d m in is tr a ­
t io n tic k e ts m a d e u p , is t h e im p o r ta n t t h in g . T h e
la w r e q u ir e d th e s e tic k e ts , b u t w h ile it d o e s n o t r e q u ir e
a n y m o r e , it p e r m its a n d p r o v id e s fo r m a n y . U n til
O c to b e r 1 8 a n y h u n d r e d p o lic y h o ld e r s m a y p u t in
n o m in a tio n s “ fo r o n e o r m o r e ” tr u s te e s , w h ic h m e a n s
fo r e n tir e b o a r d s . T h e c o m m it t e e o f t h e 9 t h is o s t e n ­
s ib ly to s u g g e s t a tic k e t— it h a s n o p o w e r , a s s u c h , to
m a k e o n e , a n d a c o n s id e r a b le n u m b e r o f t h e m e n
c o m p o s in g it a r e n o t e v e n p o lic y h o ld e r s . T h e r e w ill
p r o b a b l y b e s e v e r a l m o r e t i c k e t s , a n d t h e r e m ay b e
a d o z e n m o r e — n o b o d y c a n p re d ic t a b o u t th a t. B u t
th e c o m p a n ie s a r e r e q u ir e d b y th e la w t o m a il to e v e r y
p o lic y h o ld e r a c o p y o f e v e r y tic k e t, a n d e a c h t ic k e t
w ill b e d e s ig n a te d s o a s t o s h o w its s o u r c e . T h u s e a c h
p o lic y h o ld e r w ill h a v e b e fo r e h im t h e e n tir e c a s e .
T h e tic k e ts , th e n a m e s o f th e p r o x ie s fo r e a c h tic k e t,
a n d th e m a te r ia ls fo r e ith e r g iv in g a p r o x y o r s e n d in g
a m a il v o te d ir e c t, w ill b e in h is h a n d s .
W e o u g h t t o s a y , p a r e n th e tic a lly , t h a t th e s c h e m e
s u g g e s te d in th e a d d r e s s , o f a p e r m a n e n t o r g a n iz a tio n
w h ic h s h a ll a c t a s a s o r t o f s u p e r v is o r o f t h e c o m p a n ie s
in r e s p e c t t o in v e s t m e n t s a n d o t h e r w is e , is o n e u n ­
k n o w n to th e la w a n d w ith o u t ju s t ific a tio n in r e a s o n ;
m o r e o v e r , th a t o n e s u g g e s te d fu n c tio n — t h a t o f a c t­
in g a s a d v is e r o f th e p o lic y h o ld e r a s t o h o w m u c h h e
s h o u ld r e c e iv e in s u r r e n d e r v a lu e s a n d s o o n — w o u ld
p r o v o k e d is s e n s io n a n d in v it e lit ig a t io n if a t t e m p t
w ere m a d e to c a n y it o u t.
N o w h e r e a r e th e s e e n o r m o u s , c o s t ly , a n d p e r fe c tly
u s e le s s lis ts o f a d d r e s s e s w h ic h t h e la w c o m p e lle d , o n
file in A lb a n y ; a n d t h e fe w a c t iv e o p p o n e n t s (w h o m
fo r c o n v e n ie n c e m a y b e c a lle d th e O p p o s it io n , s in c e
th e ir a v o w e d p u r p o s e is t o d e fe a t th e a d m in is t r a t io n
tic k e ts a t a n y c o st) h a v e s e t a c o rp s o f m e n a t w o rk to

125

c o p y th e s e lis ts o f a d d r e s s e s . F o r w h a t e n d , a n d
m o v e d b y w h a t m o t iv e ? T o s e n d a s in g le c o m m u n i­
c a t io n t o t h e p o lic y h o ld e r s w ill c o s t $ 5 0 ,0 0 0 , it is a n ­
n o u n c e d — a n d c r e d it a b ly s o , s in c e p o s t a g e a lo n e w ill
b e a t le a s t $ 2 0 ,0 0 0 . I f t h e s e m e n w h o a r e p u b lis h ­
in g c o m p la in t s a n d c h a r g e s fr e q u e n t ly w is h t o g e t
th e ir tic k e ts m a ile d , th e c o m p a n ie s h a v e to d o th a t fo r
th e m . I f th e y w a n t to ta lk to th e p o lic y h o ld e r s ,
th e c o lu m n s o f a n u m b e r o f d a ily n e w s p a p e r s a r e o p e n
to t h e m , a p p a r e n tly w ith o u t r e s tr ic tio n . I f th e y a r e
c o n c e r n e d t o h a v e th e c o n tr o l p la c e d in th e h a n d s o f
th e c le a n e s t a n d b e s t m e n , t h e y h a v e o n ly t o h o ld
a lo o f a n d a llo w th e p o lic y h o ld e r — w h o is th e p a r t y
m o s t in in te r e s t— to d o h is o w n th in k in g a n d m a k e
h is o w n d e c is io n ; e v e n if t h e y a r e h o n e s t in a s s e r tin g
th a t n o g o o d c a n c o m e o u t o f N a z a r e th , a n d a n y n o m i­
n e e o f t h e p r e s e n t b o a r d s is n e c e s s a r ily u n t r u s t w o r t h y ,
th e y c o u ld a llo w th e p o lic y h o ld e r t o p a s s u p o n th is
v ie w fo r h im s e lf. W h y n o t q u ie tly m a k e u p th e ir
o w n tic k e t a n d s u b m it it , w ith o u t s o m u c h a c tiv ity
a n d s u c h p a s s io n a te d e n u n c ia tio n o f o th e r s?
T h e s u b m is s io n o f th e w h o le c a s e to th e v o te r s h a v ­
in g b e e n p r o v id e d fo r b y th e la w , th e r e is n o r o o m fo r
th e e x p e n d itu r e o f m o n e y a n d fo r th e u s u a l e le c tio n ­
e e r in g m e t h o d s o f c a m p a ig n s . T h e e x p e n d itu r e o f
la b o r — in c lu d in g th e d e te r m in a tio n to h a v e a c o p y o f
th e lis t o f a d d r e s s e s a n d t o h a v e it s o o n — is in te llig ib le
o n ly o n t h e d e d u c t io n t h a t a p u r s u it o fp r o x ie s is t o
b e m a d e ; th a t s o m e p e rso n s a re b e n t u p o n g e ttin g c o n ­
tr o l o f th e c o m p a n ie s th e m s e lv e s , u n d e r g u is e o f a n
e x tr a o r d in a r y z e a l to p r o te c t th e p o lic y h o ld e r s fr o m
“ W a ll S t r e e t .” T h e c a s e is a f ig h t f o r c o n t r o l o f a p ­
p r o x im a te ly a b illio n o f d o lla r s . W e s a y th is w ith
r e g r e t, b u t th e r e is p o s itiv e ly n o e s c a p e fr o m th e c o n ­
c lu s io n .
I t is m o s t u n fo r t u n a t e t h a t t h e r e is t o b e a n y “ c a m ­
p a ig n ” w h e r e q u ie t in d iv id u a l t h in k in g is t h e fa c to r
m o s t n e e d e d — y e s , th e o n ly fa c to r n e e d e d . I f th e r e
w e r e s o m e la r g e q u e s t io n o f a d m in is t r a t iv e p o lic y t o
b e d e te rm in e d in D e c e m b e r — fo r in s ta n c e , w h e th e r
th e r e s h a ll b e a n a t t e m p t t o r e a liz e th e d r e a m o f life
in s u r a n c e s o u g h t a n d ta k e n v o lu n ta r ily a n d w ith o u t
a g e n ts — a c a m p a ig n o f d is c u s s io n m ig h t b e u s e fu l.
B u t h e r e w e h a v e o n ly a c h o ic e b e tw e e n w h o le tic k e ts
(o r p o s s ib ly s p lit tic k e ts ) o f m e n fo r c o n tr o l— a p e r ­
s o n a l q u e s t io n , r e la tin g t o fitn e s s a n d m o t iv e s . T h e
p o lic y h o ld e r s a r e c h a r g e d w ith th e d e c is io n , a n d th e y
m u s t b e a s s u m e d to b e c o m p e te n t to d e c id e w ith o u t
in s tr u c tio n . A ft e r th is b itte r tr o u b le o f th e p a s t y e a r ,
th e fo r t u n a t e c o u r s e w o u ld n o w b e t o le t th e w h o le
s u b je c t d r o p o u t o f s ig h t a n d m e n tio n , a n d le a v e th e
p o lic y h o ld e r s to q u ie tly m a k e u p th e ir o w n m in d s .
T H E U S U R Y L A W OF T H IS S T A T E A S <
. . . . . . . . . . . . . & £ A F F E C T IN G B A N K S .
'• T h e A p p e l l a t e D i v i s i o n o f t h e S u p r e m e C o u r t o f t h i s
S ta te (F ir s t D e p a r tm e n t) h a s ju s t r e n d e r e d a d e c is io n
in a c a s e in v o lv in g th e a p p lic a t io n o f th e u s u r y la w s
t o S t a t e b a n k s w h ic h is a t t r a c t in g w id e a t t e n t io n .
T h e a c tio n w a s to r e c o v e r o n tw o p ro m is s o ry n o te s
c o n c e d e d t o h a v e b e e n u s u r io u s in th e ir in c e p tio n b u t
s u b s e q u e n tly d is c o u n te d b y a S t a t e b a n k ,s o th a t th e
la t t e r b e c a m e a b o n a fid e h o ld e r b e fo r e m a t u r it y a n d
w ith o u t n o tic e o f a n y in fir m ity in th e in s tr u m e n t o r
d e fe n s e a v a ila b le a g a in s t th e p e r s o n n e g o tia tin g it .
T h e p o in t a t is s u e w a s w h e t h e r th e g e n e r a l u s u r y la w
o f th e S ta te a p p lie s in s u c h a c a s e o r w h e th e r S e c tio n

1:26

THE CHRONICLE.

5 5 o f th e b a n k in g la w . a s in te r p r e te d b y th e n a tio n a l
a n d th e S ta te c o u rts, m u st b e ta k e n to g o v e rn . U n d e r
t h e g e n e r a l u s u r y la w u s u r io u s n o te s a r e v o id a n d n o
r e c o v e r y c a n b e h a d fo r th e p rin c ip a l o f th e s a m e .
O n th e o th e r h a n d , th e b a n k in g la w u n d e r ta k e s t o
p la c e S ta te b a n k s a n d b a n k e r s o n a p a r ity w ith th e
n a tio n a l b a n k s a n d p r o v id e s m e r e ly fo r a fo r fe itu r e o f
th e in te r e s t, w ith o u t, h o w e v e r , e x p r e s s ly d e c la r in g
t h a t t h e g e n e r a l u s u r y la w s h a ll n o t a p p ly . T h e
A p p e lla te D iv is io n g iv e s v o ic e to th e o p in io n th a t th e
u s u r y s ta tu te o f N e w Y o r k h a s b e e n r e p e a le d b y im ­
p lic a tio n s o fa r a s S ta te b a n k s a r e c o n c e r n e d , n o t o n ly
w h e r e th e b a n k its e lf h a s b e e n a d ir e c t p a r tic ip a to r
in a u s u r io u s tr a n s a c tio n , b u t w h e r e it is a n in n o c e n t
h o ld e r , in d u e c o u r s e , o f p a p e r w h ic h in th e h a n d s o f
p r iv a te p a r tie s w o u ld b e v o id fo r u s u r y in its in c e p tio n .
T h e s u it w a s b r o u g h t b y L e o S c h le s in g e r a s r e c e iv e r
o f th e F e d e ra l B a n k o f N e w Y o r k to re co v e r u p o n tw o
p r o m is s o r y n o te s a m o u n t in g in t h e a g g r e g a t e t o $ 2 ,7 9 8 ,
g iv e n b y o n e F r a n k K e lly . T h e n o te s in s u it w e r e
a c q u ir e d b y th e r e c e iv e r a s p a r t o f th e a s s e ts o f th e
b a n k w h e n h e to o k p o s s e s s io n th e r e o f u n d e r h is a p ­
p o in tm e n t b y th e C o u r t. I t w a s c o n c e d e d b y th e
r e c e iv e r t h a t th e n o te s w e r e u s u r io u s n o te s a t th e ir in ­
c e p tio n — th e y h a v in g r e s u lte d o u t o f d e a lin g s b e tw e e n
K e lly a n d o n e D a v id R o th s c h ild o r L o u is R o th s c h ild
d o in g b u s in e s s a s J . G o u ld & C o . o r th e G lo b e S e c u r ity
C o ., a ll o f w h ic h fig u r e d s o p r o m in e n t ly in t h e p u b lic
e y e o n th e o c c a s io n o f th e fa ilu r e o f th e F e d e r a l B a n k —
a n d t h a t a t n o tim e d id th e d e fe n d a n t h a v e d e a lin g s
w ith o r b o r r o w d ir e c tly fr o m th e b a n k . T h e d e ­
fe n d a n t o n h is p a r t c o n c e d e d th a t th e b a n k w a s a b o n a
fid e h o ld e r o f th e n o te s in d u e c o u r s e ; t h a t th e n o te s
w e r e c o m p le te a n d r e g u la r u p o n th e ir fa c e ; t h a t th e
b a n k b e c a m e s u c h h o ld e r b e fo r e m a t u r it y a n d w ith o u t
n o tic e o f a n y in fir m ity in th e in s tr u m e n ts o r d e fe c t in
th e title o f th e p e r s o n n e g o tia tin g th e m . H e c la im e d ,
h o w e v e r , t h a t th e n o te s n o t h a v in g b e e n g iv e n d ir e c tly
t o t h e b a n k , a n d b e in g a d m it t e d ly u s u r io u s in th e ir
in c e p tio n , w e re a b s o lu te ly v o id , n o | m a tte r in to w h o s e
h a n d s th e y c a m e . T h e r e c e iv e r in s is te d th a t th e
F e d e r a l B a n k , h a v in g b e e n a S ta te b a n k , w a s b y e x ­
p r e s s s ta tu te o n a p a r ity w ith n a tio n a l b a n k s , a n d w a s
n o t s u b je c t t o th e p r o v is io n s o f th e u s u r y la w d e c la r in g
u s u r io u s n o te s v o id , a n d t h a t , b e in g th e h o ld e r in d u e
c o u r s e fo r v a lu e , w ith o u t n o tic e , th e b a n k h e ld th e
in s tr u m e n ts fr e e fr o m a n y d e fe c t o f title o f p r io r p a r ­
tie s , a n d fr e e fr o m d e fe n s e s a v a ila b le to p rio r p a r tie s
a m o n g th e m s e lv e s , a n d h e n c e e n title d to e n fo r c e p a y ­
m e n t fo r th e fu ll a m o u n t th e r e o f a g a in s t a ll p a r tie s
lia b le th e r e o n .
It. is th is c o n te n t io n o f th e r e c e iv e r w h ic h th e A p ­
p e lla te D iv is io n s u s ta in s . T h e o p in io n is b y J u s tic e
C la r k e a n d h e r e fe r s to c e r ta in a d ju d ic a te d c a s e s a s
s e ttlin g th e p o in t th a t th e p r o v is io n s o f th e u s u r y la w
d e c la r in g u s u r io u s n o te s v o id h a v e b e e n r e p e a le d b y im ­
p lic a tio n w h e n s a id n o te s h a v e b e e n g iv e n to a n d s a id
u s u r io u s in te r e s t r e c e iv e d b y a n a tio n a l b a n k o r S t a t e
• b a n k o r p r i v a t e b a n k e r . A c c o r d i n g t o S e c t i o n 5197
o f th e U . S . R e v is e d S ta tu te s , a n y b a n k in g a s s o c ia tio n
m a y ta k e a n d c h a r g e u p o n a n y n o te in te r e s t a t th e r a te
a llo w e d b y th e la w s o f th e S t a t e , te r r ito r y o r d is t r ic t
w h e r e t h e b a n k is lo c a t e d , a n d n o m o r e , a n d ’ S e c t io n
5 1 9 8 p ro v id e s th a t th e ta k in g o r c h a r g in g a r a te o f in te r ­
e s t g r e a te r th a n th a t a llo w e d , w h e n k n o w in g ly d o n e ,
s h a ll b e d e e m e d a fo r fe itu r e o f th e e n tir e in te r e s t w h ic h
th e n o te c a r r ie s w ith it o r w h ic h h a s b e e n a g r e e d to b e

[Yol,

LXXII1I.

p a id th e r e o n , a n d t h a t in c a s e a g r e a te r r a te o f in te r e s t
h a s b e e n p a id th e r e c a n b e r e c o v e r e d b a c k tw ic e th e
a m o u n t o f th e in te r e s t th u s p a id , p r o v id e d su c h a c tio n
w a s c o m m e n c e d w ith in tw o y e a r s fr o m th e tim e th e
u s u r io u s tr a n s a c tio n o c c u r r e d . S e c tio n 5 5 o f th e
B a n k in g L a w o f th is S t a t e , a fte r fix in g th e le g a l r a te o f
in te r e s t a t th e m a x im u m o f 6 % , c o n ta in s s u b s ta n tia lly
th e s a m e p r o v is io n s a n d c o n c lu d e s a s fo llo w s : “ T h e
tr u e in te n t a n d m e a n in g o f th is S e c t io n is t o p la c e a n d
c o n tin u e b a n k s a n d p r iv a te a n d in d iv id u a l b a n k e r s
o n a n e q u a lity in th e p a r tic u la r s h e r e in r e fe r r e d to
w ith th e n a tio n a l b a n k s a u th o r iz e d u n d e r A c t o f
C o n g r e s s .”
J u s tic e C la r k e p o in t s o u t t h a t t h e e a r lie r d e c is io n s
o f th e c o u r ts o f th is S ta te w e r e to th e e ffe c t th a t th e
u s u r y s ta tu te o f th is S ta te a p p lie d to b o t h th e n a tio n a l
a n d th e S ta te b a n k s . B u t in F a r m e r s ’ & M e c h a n ic s '
N a tio n a l B a n k v s . D e a r in g (9 1 U . S . 2 9 ) , a c a s e o r ig i­
n a tin g in th is S ta te , th e U . S . S u p r e m e C o u r t o v e r ­
r u le d th e d o c tr in e a s la id d o w n b y t h e C o u r t o f A p ­
p e a ls , a n d h e ld t h a t th e o n ly fo r fe itu r e w a s t h a t p r o ­
v id e d b y th e A c t o f C o n g r e s s , a n d th a t n o lo s s o f th e
e n tir e d e b t w a s in c u r r e d b y a n a tio n a l b a n k a s a p e n ­
a lty o r o th e r w is e b y r e a s o n o f th e p r o v is io n s o f th e
u s u r y la w s o f th e S t a t e . S u b s e q u e n tly th e N e w
Y o r k C o u r t o f A p p e a ls , in H in te r m is te r v s . T h e F ir s t
N a tio n a l B a n k (6 4 N . Y . 2 1 2 ) h e ld th a t s in c e th e S u ­
p r e m e C o u r t o f th e U n ite d S ta te s h a d g iv e n its in te r ­
p r e ta tio n to th e A c t o f C o n g r e s s , its o w n p r e v io u s d e ­
c is io n s w e r e n o lo n g e r c o n tr o llin g . T h e C o u r t o f
A p p e a ls in th a t c a s e s a id : “ I t fo llo w s th a t in o r d e r to
g iv e e ffe c t to th e e v id e n t in te n tio n o f th e L e g is la tu r e
o f th is S ta te , th e s ta tu te e n a c te d in 1 8 7 0 t o p u t th e
S ta te b a n k s u p o n a n e q u a lity w ith th e n a tio n a l b a n k s
s h o u ld h a v e th e s a m e in te r p r e ta tio n a n d e ffe c t a s is
g iv e n to th e A c t o f C o n g r e s s . A n y o th e r in te r p r e ta ­
t io n w o u ld d o v io le n c e t o t h e c le a r ly e x p r e s s e d w ill o f
th e L e g is la tu r e , d o in ju s tic e to th e S ta te in s titu t io n s ,
a n d g iv e u n d u e e ffe c t to th e le g is la tio n o f C o n g r e s s ,
s o f a r a s it is h o s t ile t o t h e S t a t e b a n k s .” J u s t ic e
C la r k e a ls o p o in ts o u t t h a t th e e x c lu s iv e c o n tr o l o v e r
n a tio n a l b a n k s a n d th e ir fr e e d o m fr o m th e o p e r a tio n
o f S ta te la w s a s la id d o w n in th e D e a r in g c a s e h a s b e e n
r e a s s e r te d in H a s e ltin e v s . C e n tr a l N a tio n a l B a n k
( 1 8 3 U . S . 1 3 1 ) a n d in E a s t o n v s . I o w a ( 1 8 8 U . S . 2 1 9 .)
A c c o r d in g ly , J u s tic e C la r k e r e a c h e s th e c o n c lu s io n
(in w h ic h a ll h is c o lle a g u e s c o n c u r e x c e p t' J u s tic e
L a u g h lin , w h o a g r e e s in th e ju d g m e n t b u t fo r d iffe r e n t
r e a s o n s ) th a t th e e ffe c t o f th e s e d e c is io n s a n d th e s e
s t a t u t e s is t h a t I f a n u s u r io u s n o te is d ir e c tly g iv e n t o
a S ta te b a n k a n d s a id b a n k ta k e s , r e c e iv e s o r r e s e rv e s
in te r e s t b e y o n d th e a m o u n t a llo w e d b y la w , t h a t
n e v e r th e le s s th e n o te is n o t v o id , a n d th e s o le fo r fe itu r e
is t h a t p r o v id e d in r e g a r d t o t h e in t e r e s t a n d t h e r ig h t
o f a c tio n to r e c o v e r d o u b le th e a m o u n t o f in te r e s t p a id .
T h e a m o u n t o f th e n o te is a v a lid a n d e n fo r c e a b le d e b t.
B u t th e r e r e m a in e d o n e o th e r p o in t fo r c o n s id e r a tio n .
I t h a d b e e n a s s e r te d b y t h e m a k e r o f t h e u s u r io u s n o te
h e ld b y th e F e d e r a l B a n k th a t th e p r in c ip le la id d o w n
in th e a u th o r itie s a b o v e c ite d a p p lie d o n ly w h e n th e
u s u r io u s tr a n s a c tio n is m a d e d ir e c t ly w it h t h e b a n k
a n d t h e b a n k its e lf r e c e iv e s o r r e s e r v e s , c h a r g e s o r is
p a id , th e u s u r io u s in te r e s t. T h e a r g u m e n t w a s th a t
th e u s u r y la w h a d n o t b e e n r e p e a le d a s b e tw e e n p r iv a te
p a r tie s , a n d t h a t a s a n o te u s u r io u s in its in c e p t io n ,
b e tw e e n p r iv a t e p a r t ie s , is b y th e s t a t u t e v o id , it n e v e r
c a n a c q u ir e v a lid ity . C o u n s e l fo r th e d e fe n d a n t c ite d

Ju ly

21 1906.j

THE CHRONICLE.

Claflin vs. Boorum (122 N. Y . 385), where the Court
said: “ A note void in its inception for usury continues
void forever, whatever its subsequent history may be.
It is as void in the hands of an innocent holder for value
as it was in the hands of those who made the usurious
contract. No validity can be given to it by sale or
exchange, because that which the statute has declared
void cannot be made valid by passing through the
channels of trade.”
Justice Clarke shows, however, that the case here re­
ferred to was not a case involving a bank, but was be­
tween private individuals, and involved the sale of
accommodation paper, which the Court held was
merely a loan of money, the purchaser being the lender
and the seller the borrower. None of the cases or
statutes affecting banks alluded to above were cited
or were involved in that case. Furthermore, the re­
sult of applying the nile there laid down to the case at
bar would be this: “ That whereas when the bank was
the wrongdoer, and took the usurious interest, that
although the usury statute declared the note void, the
banking statute made it valid as to its face value and
the wrongdoer escaped all forfeiture except in so far
as the interest was concerned, while if the bank were
an absolutely innocent party and had taken the note
in good faith, for a valuable consideration, and with­
out. notice, receiving therefor only the legal interest,
yet nevertheless it would be punished for the illegal
act of others by the loss of the full amount advanced
by it.” Such a result, it is well said, would be so
inequitable and illogical as to demonstrate that the
reasoning must be fallacious. The answer to it is
clearly found in the cases and authorities cited further
above. In other words, the usury statute has been
repealed by implication so far as State banks are con­
cerned, not only where the bank itself has been a di­
rect participator in the usurious transaction, but where
it is the innocent holder, in due course, of the paper
which in the hands of private parties would be void
for usury in its inception. “ The State has yielded to
the superior command of the nation as to national
banks and by its own statute the State has assimilated
such rule to its own banks.”

T H E M A G N IT U D E OF O U R F O R E IG N T R A D E .

The foreign trade figures for the fiscal year ending
June 30, published the present week, afford new testi­
mony to the growing dimensions of our foreign trade.
In this we have reference to the outward shipments
and the inward shipments alike. In both cases the
totals for the twelve months far exceed all previous
records. Moreover, the extent of the increase over
the twelve months preceding is of such proportions
as to make the year one of the most noteworthy in
that regard in the country’s history— the more so as
both imports and exports the previous year had been
the very largest reached up to that date.
In 1904-05 the merchandise exports had for the first
time, according to the official figures, reached and
passed the 1,500 million mark, the amount being
§1,518,561,666, and this was then remarked upon as
being a very noteworthy aggregate. But now for
1905-06 this total has been so far surpassed that the
aggregate of the merchandise exports is no less than
$1,743,763,612— showing thus a gain for the twelve
months of over 225 million dollars. The merchandise

127

imports have in a similar way risen from the unprece­
dented total of $1,117,513,071 in 1904-05 to $1,226,615,379 in 1905-06. Such prodigious figures- unequaled exports and imports alike— indicate that in
its external trade no less than in its internal trade
the country has been experiencing exceptional and
phenomenal prosperity. In truth, prosperity at home
necessarily means— other things being equal—growth
in the foreign trade; certainly it means this as far as
the imports are concerned, for rising prosperity adds
in numberless ways to the purchasing power and the
consuming capacity of the population at home, and
hence to the demand for foreign goods. Conversely,
larger imports mean a larger interchange of commodi­
ties, and therefore larger exports. Furthermore,
widely diffused prosperity involves as an axiomatic
condition an enlarged output of goods and products,
and of such enlarged production the outside world is
sure to get a share. These are general observations..
Often the result in any given period of twelve months
is influenced in a contrary direction by the agricul­
tural exports which form a large component part in
the totals and which may vary greatly accordingly as
agricultural conditions are favorable or unfavorable
and the crops good or bad.
Collectively, the conditions controlling the outward
movement of our goods and products were exception­
ally favorable during 1905-06. As a result, the trend
towards rising totals, previously so strongly revealed,
was accentuated and emphasized, thus making
the further expansion so strikingly large.
In
1904- 05 the merchandise exports had recorded, fur­
ther gain in face of a large shrinkage in the breadstuffs
exports. But in 1905-06 the breadstuffs exports
again increased, owing to better crops, and there was
at the same time no check to the growth in the mer­
chandise exports in other directions. The truth is,
the combination of favorable circumstances in the
export trade in 1905-06 was really an unusual one.
In some instances the home surplus available for
export was very much smaller than in the previous
year. Ordinarily this would have meant diminished
values as well as a diminution in the quantity shipped.
But a great increase in price came in to offset the loss..
A notable illustration of this kind is furnished in the
case of cotton, as we shall presently see. In brief,
practically everything combined to swell the totals
of values.
In the breadstuffs exports the year was b y no
means one of exceptional character. Comparison,
however, was with totals which had been the smallest
in over three decades, and as compared with these
diminutive figures of 1904-05 the improvement in
1905- 06 was quite considerable. Of wheat and flour
combined, the United States sent out in 1904-05 the
equivalent of only 44,162,409 bushels of wheat; fo r
1905-06 the wheat and flour shipments reached the
equivalent of no less than 98,362,500 bushels of
wheat. But, as showing that this is a total of merely
ordinary proportions, it is only needful to point out
that in 1902-03 our exports had been 202,906,273*
bushels, in 1901-02 234,772,515 bushels, and in
1900-01 215,990,073 bushels, and that it lias happened
many times in the past that the yearly shipments
have exceeded 200 million bushels. The corn exports
also increased, rising from 88,807,223 bushels in 190405 to 119,970,000 bushels in 1905-06. In this instance,

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THE CHRONICLE.

[VOL,. LXXXI1I.

too, the amount was not of unusual proportions (though $33,955,938 to $36,931,668, of wood and its manu­
the best in five years), for in 1900-01 our corn exports factures from $52,963,627 to $61,654,281, of agricul­
were 177,817,965 bushels 'and in 1899-1900 they were tural implements from $19,259,078 to $22,531,904,
209,348,284 bushels. Other items of the breadstuffs of carriages, cars and other vehicles from $9,478,487
exports likewise increased, and altogether the value of to $15,888,793, of chemicals, &c., from $14,561,585
the breadstuffs shipments ran up from $107,732,910 to $16,865,135, of seeds from $2,497,541 to $6,641,087,
to $185,800,000— comparing, however, with totals of naval stores from $14,613,918 to $18,252,234, of
ranging from 275 to 333 millions in some of the previ­ instruments and apparatus from $7,424,081 to $9,ous years. In brief, though the year was not an 669,809, of paper from $7,530,483 to $8,809,487, &e.,
exceptionally good one for the breadstuffs exports, &c. The exports of copper fell off from 533,343,442
the value of the shipments exceeded the small total pounds (11 months) to 424,900,059 pounds, but the
of the previous year by, roughly, 78 million dollars. loss in values was relatively small, owing to the
There was also an addition of 21 million dollars to higher price received, the value of the shipments of
the value of the cotton exports. This may seem sur­ 1905-06 (including manufactures of copper) being
prising in view of the fact that comparison is with a $73,731,202 as against $77,040,311 in 1904-05.
total of unexampled dimensions in 1904-05, and that The average price was 16.48 cents against 13.69
the cotton crop had been a short one. As a matter cents.
With reference to the imports, the great prosperity
of fact, owing to this short yield, a very decided con­
traction occurred in the quantity of the staple sent of all industrial interests and the enormous extent
out; but, as already stated, the loss was more than of the export trade (embracing goods and articles in
made good through the better price received. Only the make-up of which necessarily much imported
7,050,431 bales of cotton left our shores in 1905-06 material is used) brought with it expansion in nearly
as against 8,337,964 bales in 1904-05; the average all, and yet in not quite all, directions. It is note­
price realized, however, was 11 cents per pound, as worthy that in such leading items as coffee, sugar,
against only 8 13-16 cents. Parenthetically, it may and tea the late year’s imports were less in value than
be said that even at 11 cents the price ruled lower those of the previous year. The value of the sugar
than the average realized in 1903-04, which was imports fell off because of the big reduction in price
1 2 % cents per pound. W ith the improvement in price (the quantity imported having increased) and the
over 1904-05, the value of the cotton shipments rose, tea and coffee imports fell off, owing to a reduction
notwithstanding the reduction of over 1% million in the quantity imported. For the eleven months of
bales in the quantity shipped, from $379,965,014 to 190.5-06 we imported 3,623 million pounds of sugar
$400,990,000 in 1905-06. Here the total must be against only 3,451 million pounds, but the value of
regarded as of exceptional and extraordinary propor­ these larger imports was but $78,239,774 as against
tions, since prior to 1900-01 the value of the cotton $90,915,040. The coffee imports decreased from 1,015
million pounds to 801 million pounds, with a reduction
exports had never been as high as 300 million dollars.
At the same time the shipments of provisions and in values from $81,966,469 to $68,859,217, and the
dairy products recovered from the low total of the tea imports fell off from 100 million pounds to 90 mil­
previous year. In fact, from this low total there was lion pounds, with a contraction in values from $15,an augmentation to the largest figures on record. As 690,273 to $14,045,028.
The loss, however, in these items of imports simply
against $169,999,685 in 1904-05, the amount in
1905-06 was $209,500,000, an addition, it will be seen, serves to make the increase in other directions more
of almost $40,000,000. The petroleum shipments also noteworthy. And as indicating the part played by
contributed their quota to the year’s gain. In the trade activity in swelling the totals, it may be noted
quantity shipped a new high total was established, that in hides and skins there was an increase from
the exports rising from 1,074,384,814 gallons in $57,940,083 to $75,008,217, in fibres and their manu­
1904-05 to 1,185,000,000 gallons in 1905-06, and the factures an increase from $71,799,182 to $83,678,380,
value of the exports moving up from $79,793,222 to in leather and manufactures of leather from $10,903,$83,700,000.
477 to $14,203,489, in tin from $21,120,553 to $27,Thus in the case of these four leading staples, there 987,222, in wood and manufactures from $26,500,746
was an increase in the value of the exports over the to $33,129,879, in cotton manufactures from $45,651,twelve months preceding in amount of $142,000,000. 193 to $58,759,348, and so on through the list. Of
But as total merchandise exports increased $225,000,- course there was coincidently an expansion in the
000, this still leaves $82,000,000 increase in the other importations of articles of luxury and personal adorn­
items of the exports. This last increase is found well ment, the imports of jewelry and manufactures of
distributed through the whole line of exports— indi­ gold and silver and precious stones rising from $31,cating quite general growth, though naturally a few 760,649 to $38,838,943 and the imports of tobacco
leading items are specially distinguished for the extent from $16,170,800 to $20,191,774. As an exception to
of their contributions.
the rule the imports of raw silk diminished from
The figures as to these other exports are not yet $56,031,981 to $50,714,487; the imports of the manu­
available for the full twelve months, but, taking the factures of silk for the two years remaining about the
returns for the eleven months to May 31, it is found same.
The trade balance in the country’s favor was very
that the exports of iron and steel rose from $122,907,266 to $146,900,582; that there was a further increase greatly augmented. For, though there was an addition
in the exports of cotton goods from $44,069,019 to to the merchandise imports for the twelve months of
$49,233,437 (for the eleven months of 1903-04 exports, $109,000,000 as compared with 1904-05, the increase
of cotton goods had been only $20,203,725); that the in the merchandise exports, as already pointed out,
exports of leather and its manufactures increased from I! was fully 225 million dollars. As a consequence the

Ju l y 21 1906.]

THE CHRONICLE.

excess of merchandise exports was even larger than in
the year preceding, the comparison being $517,148,233
against $401,018,595. This larger balance brought
larger gold imports, chiefly as the result of the heavy
importations of the metal made during April and May
succeeding the San Francisco earthquake and fire, with
the special assistance extended by the Secretary of the
Treasury. W e imported net of gold in 1905-06
$57,653,320, against net exports in the preceding year
of $38,945,063. The net silver movement was about
the same in the two periods and in fact has not varied
greatly from 21 million dollars in any of the more
recent years. Combining the merchandise and the
gold and silver movements, we get the following
comparative statement for the last five years,
showing the aggregate balance in the country’s
favor.
EXCESS OF EXPORTS ( + ) OR IMPORTS (— >.
Year
ending
June 30.

190G.

1905.

1904.

1903.

1902.

$

S

g

S

S

M e r 'd is e .
S i l v e r ___

-fol7.14S.233 + 401.04S.595 + 469.739.900 + 394,422,442 + 478,398,453
+ 21.446.250 + 21.363,947 + 21,703,888 + 20.0S6.76S + 21,500,136

T o t a l..
G o ld

+53S,594,4S3 + 422.412.542 + 491.443.788 + 414.509,210 + 499.898,589
— 3,452,304
—57,653,320 + 38.945,063 — 17,595,382
+ 2,108.568

T o t a l..

+480.941,163 + 461,357,605 + 473,848,406j+416,617,778 + 496.446,285
1

It will be seen from the foregoing that after taking
into account the movements of the precious metals,
there is an apparent balance in favor of the United
States on the foreign trade currents in the large sum
of $4S0,941,163. And the balances for the years
immediately preceding were of similar magnitude,
having been $461,367,605 for 1905, $473,848,406 for
1904, $416,617,778 for 1903 and $496,446,285 for
1902. - These amounts seem much in excess of the sums
needed to offset the annual requirements for ocean
freights (our foreign trade being so largely carried in
foreign bottoms), for interest on American securities
held abroad, for expenditures by Americans traveling
abroad, for undervaluation of imports, and for the
re-purchase of foreign-owned stocks and bonds, and
this has given rise to much speculation as to whet her
the merchandise exports are not overstated.
As
this article is already so lengthy, we shall have to
defer until another week consideration of this
point.
We append a series of tables which have furnished
the basis of the figures and remarks contained in the
above discussion
They will be found useful for refer­
ence and as a matter of record.
VALUE OF IMPORTS AND EXPORTS OF MERCHANDISE FROM 1891 TO
1906, INCLUSIVE.

Y ea r ending
June 30.

Merchandise.
Exports.

Imports.

Excess of Exports
V!
Imports.

>

S

S

Total Imports
and
Exports.

129
GOLD AND SILVER MOVEMENT.
Gold.

ending
June 30.

Exports.

1S91
1892 - - 1893 - - 1894 - - 1895 . . .
1896 - ■
1897 . . .
1898 . . .
1899 - - .
1900
1901 . - 1902 - - 1903 . . .
1904
1905 - - 1906 a ..

Imports.

s
86.362.863
50.208.331
108,697.451
76,995.130
66,468.481
112,409.947
40.361.580
15.406.391
37.522.0S6
48,266.759
53.185,177
48,568,950
47.090,595
81.459.9S6
92.594.024
38.573.591

$
IS,447,370
49,948,758
22,069,380
72.989,563
36,384,760
33,525,065
85,014.780
120.391.674
88,954.603
44,573.184
66,051.187
52,021,254
44,982.027
99,055,368
53.648,961
96,226,911

Total all
Breadstuffs.

1891 _____
1892 _____
1893 _____
1894 _____
1895
18 9 6
_
1897 -------1898 _____
1899 _____
1900
_
1901
1902 _____
19 0 3
_
1904 _____
1905
_
1906 a ____

$
51,420,272
161,399,132
93.534.970
59.407.041
43,805,663
39,709,868
59.920,178
145,684,659
104,269.169
73,237,080
96.771,743
112.875,222
87,795,104
35.850,318
3,905,579
28,765,000

S
54,705,616
75,362.283
75.494.347
69,271,770
51,651.928
52,025,217
55.914.347
69,263,718
73,093,870
67,760,886
69,459,296
65,661,974
73,756,404
68,894,836
40.176,136
60,000,000

S
106,125,888
236,761,415
169,029,317
128,678,811
95,457,591
91,735,085
115,834.525
214,948,377
177.363.039
140.997,966
166.231.039
178,537.196
161,551,508
104,745,154
44,081,715
88,765,000

$
17,652,687
41,590,460
24,587,511
30,211,154
14,650.767
37,836,862
54,087.152
74,196,850
68,977,448
85,206,400
82,527.983
16,185.673
40,540,637
30,071,334
47,446,921
63,225,000

8
123,778,575
278,351.875
193,616,828
158,889.965
110,108,358
129,571,947
169,921,677
289,145,227
246.340.487
226,203,366
248,759.022
194,722,869
202,092,145
134.816.488
91,528,636
151,990,000

S
128,121,656
299,363,117
200,312,654
166,777.229
114,604,780
141,356,993
197,857,219
333,897,119
273,999,699
262,744.078
275,594,618
213,134,344
221,242,285
149,050,378
107.732,910
185,800,000

a Figures for 1906 are not final, and are subject in all cases to slight
corrections when later returns are received.
BREADSTUFFS EXPORTS B Y QUANTITIES.
Year
ended
June 30.

Wheat.

A v ’age
per
bush.

Bushels.

S

Barrels.

S

Bushels.

Bushels.

1891________
___
1892
1893 ________
1894________
1895 ________
1896 ________
1897 _________
1898 ________
1899
___
1900 ________
1901
___
1902 ________
1903 ________
1904 ________
1905 ________
1906 a _______

55,131.948
157,280,351
117,121.109
88,415,230
76,102,704
60,650,080
79,562,020
148,231,261
139,432,815
101.950.3S9
132,060,667
154,856,102
114,181,420
44,230,169
4,394,402
35,035,000

0.933
1.026
0.799
0.672
0.576
0.655
0.753
0.983
0.748
0.718
0.733
0.729
0.769
0.811
0.888
0.821

11,344,304
15,196.769
16,620,339
16,859,533
15,268,892
14,620,864
14,569,545
15,349.943
18,485,690
18,699,194
18,650,979
17,759,203
19,716,484
16,999,432
8,836,335
14,095,000

4.822
4.959
4.542
4.109
3.383
3.558
3.849
4.512
3.954
3.624
3.724
3.697
3.748
4.053
4.547
4.257

106.181.316
225,665,810
191.912,634
164,283,119
144.714,146
126,443,968
145,088,972
217,306,004
222,618,420
186,090,564
215,990,073
234,772,515
202,906,273
120,727,613
44,162,409
98,362,500

30,768,213
75,451,849
46.037,274
65,324,841
27.691,137
99,992,835
176,916.365
208,744.939
174,089,094
209.348,284
177,817,965
26,636,552
74,833,237
55,858,965
88,807.223
119,970,000

EXPORTS

Fiscal
Year
ending
June 30
1891
1892
1893
1894
1895
1896
1S97
1898
1899
1900
1901
1902
1903
1904
1905
1906

OF LEADING STAPLES— COTTON,
PROVISIONS AND PETROLEUM.

Breadstuffs.

Cotton.

-.
--.
-.-a.

200,312,654
166.777.229
114.604.780
141,356,993
197.857,219
333,897,119
273,999,099
262.744,078
275,594,618
213,134.344
221.242.285
149,050,378
107,732,910
185,800,000

188.771,445
210,869,289
204,900.990
190,056,460
230,890,971
230,442,215
209,564,774
241,832,737
313,673.443
290,651,819
316,180,429
370,810.246
379,965.014
400,990,000

Total 5 years___ 5,786.589.208 3,707.594.413 Exp. 2,078,994.795
A v e r a g e ...... .......... 1,157,317.842
415,708,959
741,518.883 Exp.

9,494,183,621
1.898,836.724

823.172.165
903.320,948
1.025,719.237
991.087.371
1.460.827.271
1.518,561.666 1.117,513.071

E xp.
Exp.
Exp.
Exp.
Exp

664.592,826
478.398.453
394.422.442
469,739.900
401.048.595

2.310,937.156
2.285.040.349
2,415,860.916
2,451.914.642
2,636.074.737

Total 5 y ears. _. 7.269.015,008 4,860.812.792 Exp. 2.408.202.216 12,129,827.800
481.640,444 2,425,965,560
A v e r a g e ___________ 1.453.803.002
972,162,558 Exp.
1906 ....................... 1.743.763,612 1.226,615.379 Exp.

517.148.233

2,970.378.991

N o te .— T h e foregoing figures are exclusive of gold an d silver in ore exported and

m p orted , which w e include in gold and silver.

A v ’age
per
bush.
%

0.574
0.551
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

Provisions Petroleum .
and D airy
X
Products.

BREADSTUFFS,

Total
Four
Staples.

Total
All
Exports.

138,401,591
145,270,643
133,634,379
131.503,590
137,138.084
167,340,960
175,508,608
184,453,055
196,959,637
199,861.378
179,839,714
176,027,586
169,999,685
209,500,000

42,142,058
4 1,499,806
46,660,082
62,383,403
62,635,037
56,125,578
56,273,168
75,611,750
71,112,788
72,302,822
67,253,533
79,060.469
79,793,222
83,700,000

569,627,748
564,416,964
499,800.231
525,300,446
628,521,31 1
787.805.872
715,346,249
764,641,620
857,340,486
775.950,363
784,515,961
774,948,679
737,490,831
879,990,000

847.278,725
891,907,709
807,538,165
882,606.938
1,050,993,556
1,231,482,330
1,227.023,302
1,394,483,082
1,487,764,991
i ,381,719,401
1,420,141,679
1.460.827,271
1.518.561,666
1.743,763,612

a Figures for 1906 are not final, and are subject in all cases to slight
corrections when later returns are received.
x Including both crude and refined, and also residuum.

...........................................
1891
1892
_______ ________________
1893
...........................................
1894
................................ ..........
1895
1896
................................ ...........
1897
................. .......... ...............
1898.................................... ...............
1899___
1900
............................................
....................................... ..
1901
1902
......................
..............
1903
............................................
1904
...... ............... ..................
1905-............. .............. ..................
1906 a ................................................

1.487.764.991
1.381.719.401

Corn.

S
S
S
%
S
- - 128,121,656 290,712,898 139,017.471 52,026,734 609,878,759 884.341,884
44,805,992
742,992,509 1.029,893.483
- . 299,363.117 258,461,241 140,362,159

1,602.331,612
1.815.723.968
1,847.531.984
1.924.171.791
2,244.424,266

1 9 0 1 ........ ..............
1902 ...... ............. .
1903 ________
1904 .......................
1905 .......................

Total
A v ’age
per
Wheal
and
Flour.
obi.

Flour.

a Figures for 1906 are not final, and are subject in all cases to slight
corrections when later returns are received.

102,882,204
286,263.144
615.432.676
529,874,813
544,541.898

1.231.482.330
1.227.023.302
1.394.483.082

31.764.484
30,533.227 31.413.411
24.177.458
30,675.056 25.643.999
35,250,302 21,455,973
36,386.521 27.898,559
28,232,254 21,500,136
24,163.491 20,086,768
27,768.814 21.703,888
27.484.865 21.363,947
44,422,813 21.446.250

Tot. Wheat,
Corn
and Flour.

Exp.
E xp.
Exp.
Exp.
Exp.

779.724.671
764.730.412
616.049,654
697.148.489
849,941.184

3.570.373
6.813,182
30,701.346

Corn.

Year ending June 30.

882,606.938

$
b\ ,250.783

Total
Wheat
and Flour.

8.348,354,306
1.669,670,861

1.050.993.556

1

$
26.980,488
29,611,847
34.293.999
19,965,7X3
20.211.179

Wheat
Flour.

573,565,626
114.713.125

_______________
- ______________
.......... ............
_______________
_______________

S
22,729.705
33.182,220
41,107,INI
50,667.059
24.295,286
60,541,670
61.946,638
55,105.239
56.319,055
56,712,275
64,285,180
49,732,390
44,250,259
49.472,702
48,848,812
65,869,063

0/

Exports,

Wheat.

Total 5 y ears___ 4.460,959.966 3.887.394,340 E xp.
A v e r a g e -------------892.191,993
777,478.868 Exp.
1896
1897
1898
1899
1900

s
+ 67.915,493
+ 259,573
+ SO.628.071:
+ 4,005,5671
+ 30,083.721
+ 78,884,882
— 44.653,200
— 104.985,283
— 51.432.517
+ 3,693,5751
- -12.866.010
— 3,452.304
+ 2,108,568!
-17,595,382
+ 38,945.063
— 57,653,320

Excess

Imports.

FiscalY ear
ended
June 30.

48.594.099
212.397,086
7,126.451
244,132,692
75.568,200

835,747.785
817.496,397
854.405,176
647.775,017
731,969,965

Exports.

VALUE OF BREADSTUFFS EXPORTS.

Exp.
E xp.
Imp.
Exp.
Exp.

.......................
884,341,884
_______________ 1.029.893,483
__________ . . .
847.278.725
_______________
891.907,709
_______________
807.538,165

Excess of
Exports ( + )
or Imports (— )

Note.— Gold and silver in ore, exported or imported, are included in the
above.
a Figures for 1906 are not final, and are subject in all cases to slight
corrections when later returns are received
b This is an excess of imports.

$
1.720,089,669
1,847,389.880
1,701,683,901
1.539,082,726
1.539,508,130

1891
1892
1893
1894
1895

Silver.

Year

COTTON AND PETROLEUM EXPORTS B Y QUANTITIES.*
Cotton Exports.
Bales.

Pounds.

5,820,779
5.891.411
4.431,220
5,397,509
( 165,358
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
8,337,904
.

2,907.358,795
2.935,219,811
2,212,115,126
2,683,282,325
3.517.433.109
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
3,033,841.314

x Petroleum,
Gallons.
708.220,777
.
803,680.186
908.041.306
884.364.574
890.254,034
967.525,242
1,01 1.276.272
919.044,718
950,023.155
1.008.947.394
1.075.899,960
941,156.850
961.860.345
1.074,384.814
1.185.600.000

a Figures for 1906 are not final, and are subject in all cases to slight
corrections when later returns are received.
I
x Includes both crude and refined, but not residuum, the exports or
* the latter being very small.

THE CHRONICLE.

130
RAILROAD

GROSS AND NET EARNINGS
FOR MA Y .
Our compilations of railroad earnings for the month
of May reveal the same characteristics as the returns
for the month immediately preceding. By this we
mean that the showing is not an unalloyed favorable
one. There is one class of roads which has suffered
decreases. We refer, of course, to the coal roads,
both anthracite and bituminous. The coal traffic
on these roads was heavily reduced, as is known, by
reason of the strikes at the mines. The anthracite
miners returned to work everywhere in May, but there
was idleness the early part of the month. At the
bituminous mines, where there were strike difficulties,
an adjustment did not occur until the following month
— June. Outside of the coal roads, or those on which
the coal traffic plays a predominant part, there was
general improvement in earnings. About the only
adverse influence anywhere, apart from the coal strike,
was a large falling off in the cotton traffic of Southern
roads, owing to the reduced crop yield of 1905-06 as
compared with the exceptionally large yield of the sea­
son of 1904-05.
M ay.
(96 roads.)
1906.

1905.

January 1 to M ay 31.
(93 roads.)
Inc. or Dec.

1906.

1905.

Inc. or Dec.

$
$
S
%
$
$
Gr earn 115,304,506 105,787,062 + 9,517,444'554,232,484 485,137,238 + 69,095,246
Op.exp 80,890,293 74,840,214 + 6,050,079 391,511,108 355,097,698 + 36,413,410
Net ear 34,414,213

30,946,848 + 3,467,365462,721,376 130,039,540 + 32,681,836

In the final result our tables show an increase of
$9,517,444 in gross, or 8.99% , and an increase of
$3,467,365, or 11.20%, in the net. This improvement
is the more significant as it follows large improvement
in the corresponding month of last year. Our state­
ment at that time showed a gain of $11,133,364 in the
gross earnings, or 10.13%, and an increase of $3,573,183 in the net earnings, or 10.93%. In all the years
preceding there had also been large and continuous
improvement in May excepting only 1904, as will
be seen from the following table carrying the com­
parisons back to 1896.
Year.

M ay.
1896.
1897189818991900.
1901_
1902_
1903.
190419051906.

Gross Earnings.
Year
Given.

Year
Preceding.

Net Earnings.

Increase or
Decrease.

%

$

236.370.978
270.256,941
272,772.598
320.595,440
338,449,512
414,369,649
431,262,247
436,847.165
536,426,401'
528,119,864
485,137,238

+ 11.025,428
— 1.290,653
+ 39,786,174
+ 15.565,485
+ 52,375,449
+46,568,150
+ 28,993.669
+ 57,465,311
— 6.785,173
+ 31,774,790
+ 69,095,246

+ 8,789
50,138,645 50,129,856
57,420,309 55,568,916 + 1,851,393
67,659,828 59,034,144 + 8,625,684
72.431.677 67,675,074 + 4.756,603
81,058.532 72,885,306 + 8,173,226
97,147,152 85,860,170 + 11,286,982
95,860,907 90,091,128 + 5,769,779
103,882,990 90,800,791 + 13,082,199
108,565.266 111,028,554 — 2,463,288
121.005,979 109,872,115 + 11,133,864
115,304,506 105,787,062 ■+9,517,444

Jan. 1 to May 31.
1896- 247.396,406
1897- 268.966,288
1898- 312,558,772
1899- 336,160.925
1900_ 390,824,961
1901 % 460,937,799
1902. 460,255.916
1903-5 494,312,476
1904 529,641,228
1905 559,894,654
1906 554,232,484

Year
Given.

Year
Preceding.

Increase or
Decrease.

13.861.785 14,878,949 — 1.017,164
16,795,849 14.615,804 + 2,180,045
20,820,846 17,335,134 + 3,485,712
23,2S7,947 20,883,314 + 2,404.633
24,808,411 23.310,286 + 1,498,125
31.083.786 26.283.210 + 4.800.576
29,779,428 28,640,038 + 1,139,390
33.980,575 28,937,381 + 5,043.194
31,807.806 34,801.674 — 2,993,868
36,265.119 32,691,936 + 3,573,183
34,414,213 30,946,848 + 3,467,365
71,722 848
79.030 535
95,892 181
101,997 562
120,989 565
149,637 067
142,919 678
150,607. 407
138.488 416
153,250 339
162,721 376

68,301,520
75.073,227
79,616,489
98,660,765
102,357,533
128,671,173
136,478,553
137,119,154
159,798,312
143,378,775
130,039,540

+ 3,421.328
+ 3,957,308
+ 16,275.692
+ 3,336,797
+ 18,632,032
+ 20,965,894
+ 6,441.125
+ 13,488,253
— 21.309,896
+ 9,871,564
+ 32,681,836

Note.— Includes for May 1 IS roads in 1896: 128 in 1897: 127 in 1898: 123 in 1899;
128 in 1900: 116 in 1901: 109 in 1902: 101 in 1903; 103 in 1904; 100 in 1905 and
96 in 1906; and from Jan. 1 to May 31, 115 in 1896; 124 in 1897: 123 in 1898:
121 in 1899; 128 in 1900; 116 in 1901; 105 in 1902; 99 in 1903: 102 in 1904: 100
in 1905 and 9.3 in 1906.Neither the Mexican roads nor
the coal-mining operations
of the anthracite coal roads are included in any of these totals.

In the case of the separate roads, there are many
companies and systems conspicuous for gains of large
amounts in both gross and net. The gains, too, come
from all parts of the country, even from those sections
where the coal strikes were an important factor. The
number of roads reporting decreases is not so extensive
as might be supposed, considering the part played by
the strikes. In the following we show all changes for
amounts in excess of $30,000, whether gains or losses.
Tr.e losses in the gross are, with one exception, supplied

[V O L . L X X X III,

entirely by roads which must have suffered a consid­
erable reduction of their coal traffic. The excep­
tion is the Pacific Coast Co., where, of course, the dis­
aster which befell San Francisco must be held ac­
countable for the small falling off shown. The losses
in net also come mainly from coal-carrying companies,
though there are a few others, like the Southern Ry. and
the Atlantic Coast Line, where a large augmentation
in the expenses has been the occasion for the decrease.
P R IN C IP A L

C H A N G E S IN

GROSS E A R N IN G S IN

M AY.

Increases.

In creases .
Canadian P a cific________$1,340,872 Chicago & Great Western 8110,553
Pennsylvania (2 roads ) _ . y 9 9 1,000 St Louis Southw estern__
94,868
B altim ore & Ohio _ _ _ _ 976,857 L on g Isla n d ______ _____
85,470
A tch T op & Santa Fe_ _
936,984 , Seaboard Air Line__ ___
75,132
Southern Railw ay _ ______
680,703 Minn & St L ou is________
51,140
Louisville & N ashville. _
633,238 j W est Jersey & Seashore.
50,300
Chic Milw & St Paul
_
439,689 j T oledo St L A Western __
46,320
Illinois C entral_____
437,893 Gulf <fe Ship Isla n d _____
38,181
R ock Isla n d ____________
428,427 Ala Great S ou th ern _____
37,967
Chesapeake & Ohio_ . 3 9 3 , 8 6 2
Norfolk & W e s t e r n ,___
334,204
T otal (39 r o a d s )____ 810,943,040
315,773
Mo Pacific (2 roads) ___
Decreases.
$381,894
Grand Trunk (3 roads) __
309,022 Buff R och & P itts ______
Minn St Paul & S St M__
264,299 Central o f New Jersey___
377,028
Denver <k Rio G rande___
255,122 Lehigh V a lley __________
363,396
228,802 Phila & R ea d in g _____ ._ z 2 6 1 ,425
A tlantic Coast L in e_____
Kansas C ity S ou th ern __ 162,792
115,224
N Y Ont & "Western____
St Louis & San F ra n ____
159,177 W heeling & Lake E r ie ..
85,090
W a b a s h ________________
158,666 P acific C oa st___________
65,168
Mobile & Ohio_
______
157,297 H ock ing V a lle y _________
58,031
41,236
N ash vC hatt & St Louis.. 139,772
N Y Susq & W estern ___
C olorado
S outhern___
132,649 E r i e . ^ ______ _ __ _
32,674
30,161
129,499 Chicago & A lto n __ _____
Y a zoo & Miss V a lle y ____
Cm N O & T ex P a c _____
114,672
T otal (11 ro a d s)_____ $1,811,327
111,535
Central o f G eorgia______
W estern M a ry la n d _____
111 ,303

x These figures are for the Railroad C om pany; the Coal A Iron C om pany
reports a decrease o f $868,265.
y These figures cover the lines directly operated east and west of Pitts­
burgh and Erie. T he gross on Eastern lines increased 8436,900 and th e
gross on W estern lines increased $554,100.
i

P R IN C IP A L

CHANGES

IN

NET

E A R N IN G S

IN

M AY.
In creases.

Increases.

Canadian P a cific________ 8799,728
A tch T op & Santa F e ___
666,014
Baltim ore & O h io__________ 481,904
341,895
Illinois C entral_________
303,930
Mo Pacific (2 r o a d s )____
W a b a s h ________________
283,187
Y a zoo & Miss V a lle y ____
235,665
184,925
Chesapeake & O h io_____
Grand Trunk (3 roads) _ _
166,921
Louisville & N a sh v ille -.
149,714
N orfolk & W estern _____
138,177
Pennsylvania (2 r o a d s). y l3 6 ,9 0 0
134,407
Minn St P & S St M _____
Kansas City S o u th e r n ._
129,037
Denver & R io G rande___
115,165
R ock Island S y stem ____
111,614
Colorado & Southern:.. .
87,719
St Louis & San F ra n ____
81,388
W estern M aryland_____
76,989
Nashv Cliatt & St L o u is.
68,218
E rie_____________________
63,053
Northern Central________
56,200
Central o f G eorgia______
55,594

Cin N O & T ex Pac-_____
M obile & O h io__________
St L ouis S ou th w estern ._
Chicago Great W estern _ _
W est Jersey <fe Seashore.

$42,566
37,968
34,666
33,217
31,900

T otal (32 roa d s)______$5,048,661
T^ p p t p h

Phila & R ea d in g ________x $435,572
Lehigh V a lley __________
233,048
Central o f New Jersey___
231,261
B uff R och & P itts __________________ 226,635
Southern R a ilw a y __________________ 127,867
Chicago & A l t o n !__________________ 97,833
A tlan tic Coast L in e_________________ 77,374
N Y Ont & W +stern _______________ 63.251
P acific C oast___________
44,149
Phila B alto & W a s h ________________38,000
L on g Island_____________
34,359
H ock in g V a lley _________
30,830’
T otal (12 ro a d s )_____ $1,640,179

x These figures are for the Railroad C om pany; the Coal & Iron C om pany
reports a decrease o f $328,487.
y These figures cover lines directly operated east and west o f P itts­
burgh and Erie. T he net on Eastern lines decreased $69,400 and th e
net on W estern lines increased $206,300.

When the roads are arranged in groups according
to their location or the character of their traffic, the
part played by the coal strike is also decidedly in evi­
dence. But while this is true, it is also true that there
are altogether only two groups that show diminished
gross and net, namely the anthracite coal group and
the Eastern and Middle group. Even the trunk line
group makes a gain in both gross and net, the loss in
the coal traffic having been offset by an increased
volume of business in other directions.
SUMMARY B Y GROUPS.
Section or
Group.
M ay.
Tr. Lines (8).
Antli.Coal (5)
E. & M id.(15)
Mid. West (12)
N o.W . & No.
Pacific (13.
So. W . & So.
Pacific (16)
Southern (27)
Total (96).
Mexican (3) .
JaTi.ltoM’yZl
Tr. lines (8)Anth.coal (5)
E .& M id. (14)
M id.W est(ll)
No. W . & No.
Pacific (13)
So. W . & So.
Pacific (16)
Southern (26)

Net Earnings.

Gross Earnings.

1905.

l7icJ-r)orD ec.(— )„

1906.

1905.

1906.

S
34,565,815
8,202.488
4.862,402
7,530,735

S
32,162,944
9.360,797
4,947,189
7,159,S91

S
10.613,666
2,917,090
1,357,8S5
1.741,793

S
9,481,701
3.S90.697
1,497,759
1,551.962

%
s'
+ 1,131,965 11.94
— 973.607 25.02
— 139.874 9.34
+ 1S9.S31 12.23

13,658,429

11,438,608

4,380,902

3,433,939

+ 946,963 27.58

24.031.087
22,453.550

21.498.310
19.219.323

7,442,974
5,959,903

5,868,049
5.222,741

+ 1,574,925 26.84
+ 737,162 14.11

115,304,506 105,787.062
2.656,192
2,153.025

34.414.213
1,037,238

30,946.848
696,579

+ 3,467,365 11.2Q
+ 340,659 4S.90

161.624,431 141.930.890
40,859.799 41,555.339
21.758.306 20,002,215
37,284.275 33,15S,04S

46,176,410
13,496.351
5.582,962
10.4S5.202

34,525,033 + 11.651,377 33.74
16.680.181 — 3,183,830 19.08
+ 913,837 19,57
4,669,125
7,653,062 + 2,832.140 37.01
+ 5,448,668 36.72

53,260.084

20,287,524

14.83S.856

118.192,479 102.022.707
110,206.331 93,207.955

35.383.313
31,309,614

25.090.6S1 + 10,292,632 41.02
26,582,602 + 4,727,012 17.78

64,306,863

Total (93). 554,232.484 485,137,238 162,721,376 130,039,540 + 32,681,836 25.13
3,344,853 +1,447,458 j43.27
4,792,311
Mexican (3) . 12,277,8S4 10,537,430

Ju l y 2 1 190G.]

ITIE CHRONICLE.

All the foregoing figures relate to the roads that fur­
nish monthly returns of both gross and net earnings.
Besides these, there is always a considerable body of
roads which supplies returns as to the gross alone—
without giving out any figures of net. And the list
of such roads is larger than formerly, as the New
York Central, in addition to its own figures, now pub­
lishes monthly exhibits of gross feu- the various aux­
iliary roads going to make up the New York Central
combination. Starting with the total of the gross in
the foregoing, we add on these other roads in the table
we now present.
ROADS REPORTING GROSS BUT NOT NET.
1906.

Mai/.

1905.

Increase.

3
$
S
Reported above >96 roads). 115,304,506 105.787,062 9,517,444
Ala N O <fc Tex Pac—
262,768
236,188
N O A N East__________
26,580
Alabama & Vicksb’g ___
105.S65
15,830
121,695
111 ,528
Vicks Shreve «& Pac____
121,293
9,765
66,520
Cincinnati Northern_____
86,303
19,783
168,549
171,173
Chic Ind & Southern_____
Chicago & North Western..
5,09S,480 4,603,857 494,623
Chic St Paul Minn & Omaha
954,687
888,973
65,714
Chicago Terminal Trans__
136,509
132,433
1,758,775 230,888
Cleve Cin Chic & St Louis. .
1,989,663
237,574
202,804
Peoria it Eastern_______
34,770
253,041
Detroit Toledo & Ironton..
300,697
47,656
4,15S,354 3,460,373 697,981
Great Northern System___
Montana Central_______
207,220
222,669
15,449
Illinois Southern_________
22,858
17,929
528,024
490,503
37,521
International & Gt N orth..
386,058
Lake Erie & Western_____
400,445
14,387
3,652,111
Lake Shore it Mich South
3,135,773 516,338
11,796
Macon & Birmingham____
9,603
2,193
2,099,086
Michigan Central_________
1,869,850 229,236
58,522
47,611
Mobile Jack <t Kan City__
106,133
7,250,241
7,137,502 112,739
New York Central________
Northern Pacific__________
5,471,720 4,427,181 1.044,539
844,236
N Y Chic it St Louis_____
688,547 155,689
1,314,532
Pittsburgh it Lake Erie__
1.153,981 160,551
Rutland__________________
227,120
222,729
4,391
33,221
Sierra Railway___________
31,517
1,704
1,006,355
Texas & Pacific__________
S77.163 129,192
Toronto Ham & Buffalo__
61,122
56,197
4,925
Net increase (9.83% ).

152,183,742 138,557,872 13637499
13625870
_

1

pany in corporated in recent years which has made a d istin c­
tive place for itself by reason o f its rapid grow th, progressive
m ethods and the exten t o f its business. Organized in 1902,
in the centre o f the M adison Square district on B roadw ay,
the com p an y's expansion under Mr. H enry R . W ilson ’s
executive managem ent has been strikin g, as the subjoined
table will indicate:
Jan.
Jan.
Jan.
June

Surplus
Capital, ami Profits.
I 1904................. ...8500,000
$500,000
I 1905.................
500,000
698,440
1 1906--------500,000
915,993
301906----------------- 500,000 1,018,456

Deposits.
$7,382,350
13,151,918
17,084,075
21,770,064

.4ggregate
Resources
$8,382,351
14,350,358
18,544,633
23,297,097

Thus in the past two and a half years the institution has
more than doubled surplus and profits (from $500,000 to
$1,018,456) and nearly trebled deposits— $7,382,350 to
$21,770,064— total resources increasing from $8,383,351 to
$23,297,097. At the special m eeting July 27 (referred to
Decrease. in these colum ns last w eek ), the capital stock will probably
be increased from $500,000 to $1,000,000, 9 5 % o f the new
S
stock to be issued to the stockholders at 110 and the rem ain­
ing 5 % to the members o f the a d visory com m ittees interested
in the com p a n y ’s branches at B roadw ay and Lispcnard St.
and B roadw ay and 72nd St. The stock is now quoted in
2,624
the m arket at over 620 bid with none offered.
4,076

4,929

11,629
_______

In this way, it will be seen, the increase in the gross
for the month is raised to $13,625,870, or 9.83%, the
total for May being $152,183,742, as compared with
$138,557,872 for the corresponding month of last year.
This improvement follows an increase in May 1905 in
the large sum of $14,390,517, or 11.09%.
ITEMS ABOUT BANKS, BANKERS AND TRUST CO’S.
The sales of bank stocks at the Stock E xchange this week
aggregate 235 shares. No bank stocks and on ly one lo t of
30 shares of trust com pan y stock were sold at auction.
Shares. BANKS—New York. Low. Hirjh.
xl30 City Bank, National___ 265 265
£105 Commerce, Nat. Bk. o f . . 180 180%
TRUST COMPANY—New York.
30 Equitable Trust C o ____ 465 465

131

Close. Last previous sale.
265
April 1906— 270
180
July
1906— 180%

— Frank L . Grant has resigned as Assistant Secretary of
the Central Trust C om pany o f this city to becom e a V icePresident o f the new Carnegie Trust C om pany , the organiza­
tion w hich is being furthered b y C. C. D ickinson.
— A new trust com pan}q styled the Commercial Trust Com­
pany, is about to be organized in the vicin ity o f Broadw ay
and 42nd Street. The incorporators are: R . R . M oore, fo r­
m erly President of the Ne-w A m sterdam National Bank of
New Y ork ; A. L. Erlanger o f the theatrical firm of K law &
Erlanger; Joseph R . Grismer, Edw ard H. Fallow s, James
H. M cGraw, a director o f the Coal & Iron National Bank,
Charles G. Phillips, W m . D. Sargent, W m . R . W illcox,
Louis H. Perlm an, A . Buchsbaum , K im ball C. A tw ood , Her­
man A uerbach, L ivingston D. Smith and E. E. Moore.
— A quaint b ook let entitled “ Y e Olden C itie o f New A m ­
sterdam ” (one o f the Moses K in g series) is issued with
the com plim ents o f the New A m sterdam N ational Bank
o f this city . Incidents connected with the early historj"- o f
M anhattan, and with the life o f its D utch settlers, are p ictorially illustrated in the b ook let. N ot the least striking
am ong these is one showing a view o f New A m sterdam in
1667. In marked contrast to the little peaked-roof houses
o f New Am sterdam are shown the present “ skyscrapers” of
New Y ork . The b an k , in availing o f the b ook let as a medium
for advertising, takes occasion to announce th at it would
perpetuate those principles which have been exem plified by
descendants o f the early Dutch settlers o f New Am sterdam .
The institution has capital, surplus and undivided profits of
$1,235,000, deposits o f $7,250,000 and assets o f $9,000,000.

— U pon application m ade b y A ttorney-G eneral Mayer of
New Y ork , Justice Fitts o f the Supreme Court at A lbany
has appointed James R . Van W oert and Samuel B ryant
x Sold at the Stock Exchange.
tem porary receivers o f the H olland Trust C om pany o f this
— The Bank o f New Y o rk , N. B. A ., o f this city , has
city. It is stated that an action for the annulment of the
extended its loan lim it through the transfer o f 81,500,000
com p a n y ’s charter has been begun b y the A ttorney-G eneral,
from undivided profits to surplus. This increases the sur­
based on the report o f the State Banking D epartm ent. The
plus from 81.000.000 to 82,500,000. and makes the com ­
institution is in liq u id a tion , has no deposits, and has taken
bined capital and surplus 84,500,000. U nder the provisions
no new business in several years.
o f the new law , adverted to from tim e to tim e in these
colum ns, the bank, through its enlarged surplus, increases
— An illustration o f the labor and tim e-saving devices in
its loaning power to any one individual or corporation to use b y the H om e Trust C om pany o f New Y ork , located in
8450.000. The L iberty National and Gallatin National Brooklyn B orough, serves as the su b ject o f a b ook let issued
banks have also increased their surplus funds since the b y it under the title o f “ Old and New M ethods o f Banking.
enactm ent o f the law regulating loans o f national banks. In its com parison o f old and new practices, the com pany
The Bank o f New Y o rk , after reducing its undivided profits notes that, where it would have been considered undignified
81.500.000, still has credited to that item 8377,284, the a few years ago for a banker to make any attem pt to solicit
amount on June 18 having been 81,877,284.
business, conditions to-d a y arc radically different.
Bank­
— At a special meeting on the 19th in s t., the stockholders ers realize that to keep pace with the growth of other lines
of the United National Bank, 42nd Street and B roadw ay, o f business, trade m ethods must be adopted; and therefore
this city, voted favorably to liquidate the in stitu tion ’s assets we find in the modern banking institutions the practice of
and convert it into a trust com pany. The new institution approved p u blicity m ethods, together with the use o f up-towill com m ence business about M onday July 30 as the Hudson date means of procuring new business, and the em ploym ent
o f modern labor-saving d e v ice s.” The Home I rust Com ­
Trust Com pany.
— All things considered, the Lincoln Trust Com pany of pany is ob viou sly one o f the institutions that avail of
this city is a n otew orthy instance o f a New Y ork trust com ­ the new m ethods.
465

Jan.

1906— 520

132

THE CHRONICLE.

[VOL. L X X f f l L

— Charles E . W heeler, after more than forty years' ser I as against 526 on May 31 1905, with a total of $455,460; its
vice with the M echanics’ Bank o f B rooklyn B orou g h , has predecessors, Merrill & C o., had on May 29 1903 but 147
resigned as Cashier ow ing to im paired health. The direc­ accounts, with total deposits o f $134,906. In N ovem ber last
tors in acting upon the resignation decided to pension the the com pan y becam e the ow ner of a large m ajority
o f the stock o f the Veazie National Bank, payin g for
retiring Cashier.
stock
$264
per
share.
The
report
states
— The Term inal B ank, w hich had been tem porarily lo ­ the
that
as
the
norm
al
average
o
f
the
deposits
o
f
the
cated at 139 Sands Street, B rooklyn , since its opening last
during 1905 was som ething under
$500,000,
D ecem ber, rem oved this week to its own building at 81-83 bank
it was felt that a w orking capital o f over $250,000 was more
Sands Street.
than could be profitably em ployed with deposits o f this
— Plans are being perfected for the organization o f a new am ount, and special dividends were declared w hich reduced
State bank in B rooklyn B orough, w h ich, it is ex p ected , will the b ook value o f the stock to abou t $150 per share. The
be called the Grand Street Bank. The institution will have report further states: “ It is gratifyin g to note th at, in
a capital of $100,000, and will have its headquarters at 208 spite of som e losses o f custom ers, w hich are perhaps in ­
Grand Street.
evitable when con trol of a bank changes hands, the average
— The First N ational Bank o f Jam aica, N. Y ., lately deposits of the Veazie N ational Bank for the m onth o f May
organized with a capital o f $100,000 and surplus o f $25,000, 1906 have been $461,173, as against $429,765, the average
has com m enced business in the Faber B uilding, on Fulton deposits for May 1905, and we trust that when it becom es
Street, Jam aica. It has as officers D avid L . Van N ostrand, possible to consolidate the bank with our com p an y, we m ay
President; W illiam C. Baker and Charles A . L o ck w o o d , thereby add at least this am ount o f deposits to our o w n .”
The com pan y has com pleted plans for the erection of a new
Vice-Presidents; and D avid D . M allory, Cashier.
building, w hich, how ever, is n ot likely to be ready for occu ­
•
— A n unusual dividend o f 5 5 2 % was declared to the sto ck ­ pancy for nearly a year.
holders of the Marine National Bank of Buffalo at a m eeting
— George M ay, V ice-P resident o f the Sixth N ational Bank
o f the directors on W ednesday. As a result o f the new law
governing bank loans, the institution has decided to increase o f Philadelphia, died on M onday evening from injuries re­
its capital from $230,000 to $1,500,000, this carrying with ceived in falling from a trolley car. Mr. May was about
it a like increase o f the stockholders’ liability. The large fifty years o f age, and was a m em ber o f the Philadelphia firm
dividend just declared will be paid in cash on A ug. 15, and o f Jonathan May & Sons.
the stockholders will be at liberty to either retain it or in­
vest it in the new stock . In addition to the capital of a m il­
lion and a half dollars, the bank, after the paym ent of the
d ividen d, will have a surplus o f $1,000,000— its com bined
surplus and profits now being $2,357,097. T otal dividends
o f 6 0 % were paid last year and we noted several weeks ago
the paym ent of 2 0 % for the second quarter of 1906.
■—T h e capital of the N ational Bank of Syracuse, at Syra­
cuse, N. Y ., is to be increased from $200,000 to $600,000.
The new stock , 4,000 shares, will be disposed o f at $140
per share (par $100) and the surplus credited w ith the
prem ium . The stockholders are to m eet on A ugust 1 to
ratify the increase, and the shares will be paid for shortly
after the stockh olders’ m eeting. L. C. Smith is President
o f the ban k, and C. H . Sanford is Cashier.
-—-The form ation o f the new U nion Trust C om pany of
P roviden ce, through the con solidation last m onth of the
U nion and M anufacturers’ trust com panies, has resulted
in an institution with resources o f $31,222,694. This is the
am ount shown in the co m p a n y ’s statem ent for June 30,
when deposits were $28,721,489. The capital was increased
w ith the merger from $250,000 to $500,000, and there is
besides a surplus o f $2,000,000. J. E dw ard Studley is at
the head of the com pan y and Marsden J . Perry is First V icePresident .
-— A dividend in liquidation o f $100 per share (the first to
be paid) has been declared on the stock o f the John H ancock
N ational Bank o f Springfield, Mass., payable on the 24th
inst. The ban k, w hich transferred its business to the U nion
Trust C om pany o f Springfield, was placed in volu n tary
liqu id ation on March 28.
— In the report for the third fiscal year of the Merrill
Trust C om pany of Bangor, M e., issued to the stockholders
under date of June 15th, the gross earnings for the tw elve
m onths ending May 31 1906 are shown to have been $70,413;
of this $11,609 was paid in interest to depositors, $193 repre­
sents due and unpaid interest and $18,451 was expended
in the carrying on of the business, leaving net earnings of
$40,160. The com pany increased its capital in March from
$100,000 to $200,000, selling the new stock at $150 per share.
D ividends am ounting to $5 25 a share were declared in De­
cem ber, and on June 8 dividends am ounting to $5 per share
were declared on the enlarged capital, m aking in all $15,250
divided am ong the stockholders from the earnings for the
year, and leaving $24,910 o f undivided profits, “ e x ” the d iv i­
dends. Of this, $10,000 has been charged off on account
o f the purchase o f the safe deposit vaults and good-w ill of
Merrill & C o., and the balance, $14,910, brings the undivided
profits account to $25,054. On May 31 1906 the com pany
had 678 individual accounts with total deposits o f $642,960,

— The P eop le’s Trust C om pany, a Philadelphia in stitu ­
tion for w hich a charter will shortly be sought, has, accor­
ding to the Philadelphia papers, already m ade p rovision for
its banking quarters, having purchased p rop erty at the south­
east corner o f Second and W aln u t streets. The com pany
has for several m onths been receiving subscriptions to its
$500,000 capital, w hich will be in shares o f $50 each. N ot
more than tw enty shares will be allotted to any one person.
— Francis B. R eeves J r., son o f President R eeves of the
Girard N ational Bank o f Philadelphia, has been elected to
the directorate o f the Girard N ational to succeed the late
W illiam H. Lucas.
•— A decision was handed dow n in the U nited States A p ­
pellate Court on the 16th inst. denying a new trial to H enry
Lear, form er P residen tof th e D o y le sto w n (P a .) N ational Bank.
The ex-President was con victed o f m isappropriating the
ba n k ’s funds and a sentence o f five years’ im prisonm ent was
im posed b y the D istrict Court. George P . B rock , ex-Casher o f the ban k , who was also con victed o f m isapplication o f
its funds, has likewise been refused a new trial b y Judge
M cPherson o f the D istrict Court. The in stitu tion suspended
in July 1903 bu t resumed in O ctober o f the same year.
— The directors o f the R eal Estate Trust C om pany o f
Pittsburgh have elected E . E . Lewis Treasurer. Mr. Lewis
is an ex-State bank exam iner. W . S. Van D yk e, who has
been Secretary and Treasurer o f the com p an y , has been
chosen V ice-President and Secretary and E dw ard A . Letzkus
has been elected to fill the new ly created office o f A uditor.
— Through w hat is term ed an “ E ndow m ent C on tra ct,” the
Colonial Trust C om pany o f P ittsburgh has started an in n o­
vation in the a doption o f a plan for the paym ent o f a 3J^%
interest rate, guaranteed for tw enty years. Under the plan,
referred to in a leaflet issued b y the com pan y entitled “ In ­
com e Rates o f the Present— In com e Rates of the F u tu re,”
the investor pays a fixed am ount and is guaranteed a stated
am ount in five, ten, fifteen or tw enty years, w ith full cash
surrender values. The institution has a capital stock (paid
in) o f $4,000 ,000, a surplus fund o f $5,800,000 and undivided
profits o f $321,375. In its banking departm ent it has de­
posits (M ay 26 1906) of $10,808,138; it is also trustee under
mortgage for $72,714,500. E . H. Jennings is the President.
— A second dividend, 2 0 % , has been paid to the depositors
of the C itizens’ Savings Bank C om pany o f L orain, Ohio, b y
Assignee T . W . Fancher. This makes a total o f 7 5 % p aid,
5 5 % having previously been distributed. The institution
suspended in March 1905.
— The Ohio Valley Trust C om pany o f E vansville, In d .,
we are advised, has, b y order o f its directors and stock h old­
ers, been placed in voluntary liqu idation , and is now engaged

J u l y 21 1906. j

THE CHRONICLE.

ua

— It is possible that a merger o f the German Savings]Bank
and
the C itizens’ N ational Bank o f D aven port, Iow a, will
within the next sixty days. The com pany had a paid-in
capital of §100,000. Its business was o f a trust and insur­ be effected. The plan has n ot as yet reached a stage assuring the certainty o f its accom plishm ent. E d. K au fance nature and did not include a banking departm ent.
m ann, Assistant Cashier o f the German Savings Bank, in
— On the 2nd inst. the Security Trust C om pany o f D etroit
a recent com m un ication states that all that has been done
began business in its tem porary quarters in the Campau
is that the directors have agreed it w ould be desirable.
Building. The com pany is to make its perm anent hom e in
The approval o f the stockholders is being sought, but this
the new Ford Building as soon as the latter is ready for o ccu ­
will take tim e, as the stock of b oth banks is w idely scat­
pan cy. It has a capital and surplus o f §500,000 each and
tered. The C itizens’ N ational has a capital of §300,000
will con duct a general trust business. M. J. M urphy, as
and the German Savings a capital o f $500,000.
we have heretofore n oted, is President, and Frederick F.
— Under new articles o f association filed b y the Lincoln
Sanford is Secretary.
Safe D eposit & Trust C om pany o f L in coln , N eb ., its author­
— The annual m eeting o f the stockholders o f the E q u it­
ized capital is fixed at $250,000, o f w hich $50,000 is required
able Trust C om pany o f C hicago, adjourned from tim e to
to be paid in before beginning business. This am ount, we
tim e, was postponed this week until August 14. It is not
are inform ed, has already been p a id , and the additional
unlikely that before that date plans affecting the co m p a n y ’s
stock will be sold as ordered b y the directors. Heretofore
future w hich are now under way will have m ore fully de­
the institution has had a capital o f bu t $25,000. W . E .
veloped, and some decision arrived at w ith regard to the
Barkley Jr., is President.
same. The arrangement proposed will enable either the
speedj' liqu idation of the institution or an adjustm ent of
— The building com m ittee o f the N ational Bank of Com­
its affairs tow ard reorganization. The com p an y at the pres­ merce o f Kansas C ity, M o., has approved the plans for the
ent tim e has assets, it is stated, o f $4,000,000, and liabilities, new 15-story building to be erected at the northw est corner
consisting o f obligations to the C learing-H ouse, o f $3,000,000. o f Tenth and W alnut streets. The in stitu tion will have its
The Chicago “ In ter-O cean ” states th at, according to the m ain banking room on the street floor, its trust and savings
plans now being w orked ou t, the Clearing-H ouse C om m ittee, departm ents occu p yin g the basem ent, and its m ailing de­
into whose hands the assets o f the bank were placed last partm ent, e tc., being located on the mezzanine floor. The
Decem ber, will pay §2,000,000 for its ch oice o f an equal interior o f the bank will be finished in white marble and
amount o f the trust co m p a n y ’s assets. This w ould still bron ze, w ith w oodw ork o f French walnut. The exterior of
leave §1,000,000 o f liabilities to be taken care o f, and the the building will be in renaissance style, the three lower
stockholders are being asked to subscribe for this am ount. stories o f granite, and the upper portion o f a light vitrified
In turn they w ould receive the rem aining $2,000,000 of terra cotta b rick .
assets, w h ich, it is believed, could be liquidated for a p p roxi­
— The organization o f the State Loan & Trust Com pany
m ately their face value. The o b je ct o f the p rojectors in
is planned in St. L ouis. This latest venture will n ot embrace
suggesting the plan is not alone to perm it the early liqu ida­
a banking departm ent in its business, b u t will con duct a
tion or reorganization o f the com p an y, bu t also to sim plify
general trust business, handling real estate and loans. It is
the work o f the Clearing-H ouse C om m ittee.
to have a capital o f $500,000, and will o ccu p y tem porary
— In line with the suggestion o f Alfred H . Curtis, made offices in the Century B uilding.

in settling up its business, all o f w hich will be com pleted

at the con vention last m onth o f the M assachusetts Bankers'
A ssociation, the W isconsin Bankers’ A ssociation at its
annual session on the 12th and 13th inst. at M ilwaukee took
action sim ilar to that o f the New Y o rk Bankers’ Association
with regard to the question o f currency reform . The W iscon­
sin A ssociation, like the New Y ork b o d y , has adopted a
resolution p rovidin g for the appointm ent o f a delegate,
w ho, with delegates of other associations, “ shall confer with
the special com m ittee o f the New Y ork Chamber o f Com ­
merce and the legislative com m ittee o f the Am erican B ank­
ers’ A ssociation, for the purpose o f discussing the question of
im proving the currency la w s.” A. J. Fram e, President o f
the W aukesha (W is.) N ational B ank, has been selected as
the delegate o f the W isconsin association. A nother resolu­
tion passed by the latter “ approves the requirem ent o f certi­
fied statements of con d ition from m erchants and m anufac­
turers offering their paper in the open m arket, and recom ­
mends that each State bankers’ association take sim ilar ac­
tio n .” The association, which last year v oted down a p rop o­
sition advocatin g the adoption o f the Am erican Bankers’
A ssociation m oney order system , at the m eeting just closed,
accepted a resolution in favor o f the adop tion o f that system ,
and urged its use in substitution for express orders. The
new officers o f the association are: President, F. J. Carr;
Cashier of the Bank o f H udson, W is.; V ice-P resident, John J.
Sherman, Cashier o f the Citizens’ N ational Bank o f A ppleton;
Secretary (re-elected), J. H. Puelicher, Cashier o f the
Marshall & Ilsley Bank, Milwaukee, and Treasurer, E . F.
W illiam s, Cashier of the Citizens’ Bank of Delavan.
— Frank G. B igelow , form er President o f the First Na­
tional Bank o f Milwaukee, was discharged from bankruptcy
on the 16th inst. His d ebts, it is stated, were $3,513,000.
Creditors received about 10% o f their claims.
— An application to organize the Citizens’ National Bank
of W aterloo, Iow a, capital $100,000, has been approved.
F. F. M cE lhinney, of the Black Hawk National Bank of
W aterloo, is identified with the project.
— Martin Flynn, President o f the P eople’s Savings Bank of
Des Moines, la ., shot himself on W ednesday, dying almost
instantly. He was 60 years o f age.

— H . H. H olem an has been elected Cashier o f the Bank of
Commerce o f L ouisville, K y ., to fill a vacan cy existing since
the election som e tim e ago o f Samuel Casseday to the presi­
dency. Mr. H olem an, at present V ice-P resident o f M orton ’s
Bank at M adisonville, K y ., will take up his new duties on
September 1.
— The Union Trust & Title C om pany o f Los Angeles, Cal.,
which began business on May 14, has sold its title-searching
business to the Title Guarantee & Trust C om p an y. The
Union Trust & T itle has an authorized capital o f $1,000,000,
o f which $700,000 is paid in. It was announced at the
tim e of its opening th at, besides issuing certificates of title and
policies of title insurance, it w ould act also as trustee. The
consideration paid for its title business is understood to be
close to $140,000.
— The U niversity State Bank is the name o f a new insti­
tution about to be established in Seattle, W ash. The
capital is to be $25,000. The bank will cater especially
to the section in the v icin ity o f the State U niversity.
— The D om inion Bank o f T oron to, Canada, in its state­
ment for the six m onths ending June 30 1906, reports net
profits for the half-year o f $269,704. W ith the addition o f
$249,438— the balance o f profit and loss accou nt Decem ber 30
1905— the bank had aggregate profits of $519,142. After
providing for dividends o f $180,000 for the six months
(3 % quarterly) there was carried to the accou nt of profit
and loss the sum o f $339,142. The bank has a paid-up
capital of $3,000,000 and a reserve fund o f $3,500,000; it.deposits are now $32,307,163 and its aggregate assets
$42,293,329. Clarence A. B ogert, form erly Manager of th(
institution’s Montreal branch, becam e General Manager of
the bank in May.
— The new stock o f $1,000,000 o f the Im perial Bank of
Canada (head office, T oron to) authorized by the stock ­
holders in M ay, will be issued at $200, the subscriptions
payable in ten installments of 1 0% . The new stock will
increase the b a n k ’s capital from $4,000,000 to $5,000,000
and will be allotted to shareholders at the rate o f one new
share for every four now held.

134

THE CHRONICLE,

[VOL. LXXXI1I.

hhjiCm
m
4+C/iO'

i i l l l i

j

the Guards R egim ent naturally made a very unfavorable im ­
IM P O R T S A N D E X P O R T S FO R J U N E .
T h e Bureau o f Statistics at W ashington has issued the pression on the Paris Bourse and in the L ondon stock m ar­
statem en t o f the co u n try ’s foreign trade for June, and from kets. The energetic measures, how ever, which have been
it and from previous statem ents we have prepared the fo l­ taken b y the Russian Governm ent to suppress the revolt
low in g interesting summaries:
have had a reassuring effect. In financial circles the con
FOREIGN TRADE MOVEMENT OF THE UNITED STATES.
elusion has been reached that, at any rate for the tim e being,
(In the following tables three ciphers (000) are in all cases omitted.)
the Governm ent is strong enough to m aintain its au th ority,
----------------- 1905-06----------------- -------- -------- 1904-05-------------Excess. and there has consequently been a marked im provem ent in
Excess. Exports. Imports.
Exports. Imports.
M erchandise. $
$
$
$
$
%
Like law yers, we are all too much in­
+ 68,686 Russian securities.
+ 79,251
311,743
243,057
282,332
J u ly -S e p t. 361,583
+
217,568
465,850
+
181,335
306,871
284,515
O c t . -Dec. 524,439
+ 55,589 clined to form our own judgm ents from precedents, and
324,352 + 133.528
367,447
311,858
J a n .-M ch . 457,880
+ 37,062
128,575
95,110
+ 33,465 writers on the present crisis in Russia draw their deductions
A p ril
144.380
107,318
123,794
+ 25,637
92,526
+ 31,268
May
130,547
104,910
+ 30,706 from what happened in the French R evolu tion 100 years ago.
100,832
+ 24,102
90,447
June
124,934
121,153
They forget how much depends upon the personality o f the
T o ta l
1,743,763 1,226,615 + 517,148 1,518,562 1,117,513 + 401,049
G o l d a n d G o l d in O r e .
actors. Of course it is not possible for foreigners at a dis­
— 6,340
13,730 — 10,884
14,591
20,931
J u ly -S e p t.
2,846
16,108
+ 22,064 tance to speak with any confidence on what is going on at
19,954 — 15,837
38,1 72
O c t . -Dec.
4,117
+ 24,792
+ 9,831
J a n .-M ch . 20,147
10,316
34,015
9,223
1,304
— 1,277 the present tim e in Russia; bu t there is evidence that either
A pril _
2,486
14,942 — 12,456
2,581
— 2,176 the Czar or som e o f his advisers are quite prepared to use the
,481
2,657
M ay _____
5,722
34,911 — 29,189
+ 882
2,149
+ 1,882
2,374
4,031
J u n e 1_____
3,256
Russian army in order to suppress anarchy when it threatens
92,594
+ 38,945
T o t a l ___ 38,574
96.227 — 57,653
53,649
to
overturn the constituted au th ority. The im pression at
S i l v e r a n d S il v e r in O r e .
9,334
+ 5,027
12,762
5,902
+ 6,860 the present m om ent at any rate is that there is no im m ediate
J u ly -S e p t. 14,361
11,432
6,410
+ 4,595
O c t.-D e c .
18,070
+ 6,638
11,005
12,677
+ 6,078 danger, and this has had an assuring effect.
J a n .-M ch . 19,166
+ 6,489
12,593
6,515
— 242
2,834
2,318
2,560
A p ril
4.214
+ 1,380
Although we have had an im provem ent in the prices of
+ 1,684
+ 1,134
M ay ..
_ 5,540
4,406
5,426
3,742
3,740
2,356
+
2,389 foreign
J u n e _____
4,518
+ 778
4,745
governm ent securities, and especially of the
+ 21,364 Russian loans, there has been no im provem ent in business
+ 21,446
T o t a l . . . 65,869
44,423
27,485
48,849
upon the L ondon Stock E xchan ge, the price o f consols having
+- Excess of exports. —- Excess of imports.
fallen at one tim e this week to as low as 87 9-16. In other
W e subjoin the totals for m erchandise, gold and silver for
words, the national debt is selling upon a 2 % basis. From
th e tw elve m onths since July 1 for six years:
this it m ight be inferred that British Im perial credit has
Silver.
Merchandise.
Gold.
fallen about % since Lord G oschen’s conversion of the debt.
1Excess In so far as there is any truth in this, it is due to the abnorm al
Excess
Excess
Tvielve
Ex­ Im- of
Im­
Ex­ Im­
Months.
Ex­
of
of
ports.
ports. Exports ports. ports. Exports ports. ports.!Exp’tS floating debt with w hich the cou ntry is burdened, and with
«
g i g
$
s
$
$
which successive Chancellors of the E xchequer have failed
1,743,763 1,226,615 517+48 38,574 96+27 057,653 65,869 44,423 21,446
1,518,562 1,117,513 401,049 92,594 53,649 38,945 48,819 27,485 21,364 to deal adequately. The fa ct is, how ever, there is little
1,460,827 991,087 469,740 81,460 99,055 017,595 49,473 27,769 21.704
1,420,141 1,025,719 394,422 47,091 44,982 2,109 44,250 24,163 20,087 basis for the claim that the national credit, in and b y itself1,381,719 903,321 478,398 48.569 52,021 a3,452 49,732 28 232 21,500
1,487,765 823,172 664,593 53,185 66,051 012,866 64,285 36,386 27.899 has declined. This is proved b y the fact that the fall in the
price o f British consols has been accom panied b y a corre,
a Excess of imports.
Sim ilar totals for the six m onths since January 1 for six sponding fall in the prices o f State, m unicipal and fixedyears make the follow ing exhibit:
charge debts of all the great States o f E urope. The whole
market for what we are accustom ed to call high-class se­
Gold.
Merchandite.
Silver.
Excess
Six
Excess
Excess curities has been affected because o f the lon g-continued
Ex­
Im­
Ex­ Im­
Ex­ Im­ of
Months.
of
of
ports. Exports ports. ports. Exports ports. ports. Exp’ts scarcity or dearness of m oney. D uring the South A frican
ports.
W ar the p rodu ction of gold from South A frica entirely ceased,
$
•S
%
S
S
S
S
%
1906___ 857,741 637,412 220,329 31,611 62,543 a30,932 33,438 23,657 9,781 and for a long tim e afterwards the supply o f gold was very
1905___ 740,96S 589,941 151,027 39,831 16,610 23,221 25 082 15+73 9,909
1904___ 673,726 508,337 165,389 68,449 47,763 20,686 26,368 13,776 12,592
1903___ 697,652 512,745 184,907 31,336 13,976 17,360 17,505 9,981 7,524 small. The reserves o f the Bank of E ngland and o f the
1902___ 638+96 456 342 181,854 20,277 13+87 7,090 22,528 12,221 10,807 great L ondon banks have decreased rather than increased
1901__ 721,853 433,441 288,412 29,491 15,927 13,564 28,434 15+35 13,299
during the past decade, but the great State banks of E urope,
a "Excess of imports.
as well as the U nited States Treasury and the Am erican
I n these tables o f tota ls, gold and silver in ore for all the national banks have absorbed from the em ploym ent of trade
y e a r s are given under the heads respectively o f gold and
something like 300 millions sterling during the past ten years
silver.
T h e follow ing shows the merchandise balance for each in excess o f the am ount form erly held bjr them . This im ­
mense sum, taken from the em ploym ent o f trade and from
y ea r b ack to 1875.
the hands o f the financiers at a tim e when the supplies from
EXCESS OF MERCHANDISE IMPORTS-OR EXPORTS.
12 ■
months ending June 30—
6 months ending June 30—
South A frica had either ceased or were upon a very m oderate
1875 _______Imports, $19,562,725 1875
____ Imports_$21,795,212
scale, naturally caused an advance in the rate of interest,
_______________ Exports.50,063,783
1876 ______ Exports, 79,643,481 1876
1877 ______ Exports.151,152,094 1877
______________ .Exports,37,896,413
1878 ______ Exports ,257,814,234 1878
____ Exports, 155,854,535 and investors who had form erly been content to accept
1879 ______ Exports, 264,661,666 1879
_______________ Exports,115,036,611
are n ot, and could n ot be expected to b e, willing to do so
1880 ______ Exports. 167,683,912 1880
------------------------Exports,31,163,494
now.
1881 ______ Exports _259,712,718 1881
_______________ Exports,97,999,966
1882 ______ Exports, 25,902,683 1882
_______________ Imports,39,437,030
The grow th in the prod u ction from South A frica has at
1883 ______ Exports, 100,658,488 1883
_______________ Exports.46,083,019
1884 ______ Exports, 72,815,916 1884
_______________ Exports.10,755,835
last been fully resum ed, and immense amounts o f the metal
1885 ______ Exports, 164,662,426 1885
_______________ Exports,55,313,693
are being rapidly added to the supplies o f the L ondon market
1886 ______ Exports, 44,088,694 1886
_______________ Imports,978,738
1887 ______ Exports, 23,863,443 1887
_______________ Imports,27,090,127
and other great financial centres. Gradually therefore the
1888 ______ Imports, 28,002,607 1888
_______________ Imports,61,575,300
1889 ______ Imports, 2,730,277 1889
_______________ Imports,30,655,256
reserves upon w hich bankers’ credits are based will be in
1890 ______ Exports, 68.518,275 1890
_______________ Imports-18,721,363
creased. A nd, in the absence of p olitical com plications,
1891 ______ Exports, 39,564,614 1891
_______________ Imports.13,261,571
1892 ______ Exports, 202,675,686 1892
_______________ Exports,47,425,412
investors
m ay be expected ere long to be content with a more
1893 ______ Imports, 12,605,798 1893
_______________ Imports.68,800,021
1894 ______ Exports, 2 4 4 ,132,692 1894
_______________ Exports.68,486,072
m oderate rate o f interest than they are at present willing
1895 ______ Exports, 75,568,200 1895
_______________ Imports,4,735,035
to accept.
1896 ______ Exports, 102,882,264 1896
------------------------Exports,74,956,440
1897 ______ Exports ,286,263,144 1897
_______________ Exports,36,961,882
In the London m oney market rates are easy in the short1S98________ Exports, 615,432,676 1898
____ Exports ,295,280,759
1899 ______ Exports. 529,874,813 1899
____ Exports, 204,573,754 loan departm ent , partly ow ing to the fa ct that there is hardly
1900 ______ Exports.544,541,898 1900
____ Exports.272,615,091
V ery few new
1901 ______ Exports, 664,592,826 1901
____ Exports ,288,411,518 any business doing in the stock markets.
1902 ______ Exports, 478,398,453 1902
____ Export,s_181,854,021 issues are com ing o u t, and, generally speaking, the financial
1903 ______ Exports.394,422,442 1903
____ Exports, 184,907,400
1904 ______ Exports.469,739,900 1904
____ Exports _165,388,544 world is more or less in a h oliday m ood .
P artly, also, the
1905 ______ Exports. 401,048,595 1905
____ Exports, 151,027,589
1906 ______ Exports ,517,148,233 1906
____ Exports ,220,329,577 ease is due to the fa ct that the quarterly interest upon the
national debt was distributed to the market last week. In
the discount m arket, h ow ever, the very choicest paper is
I ^ T o n c t a r t j! C o m m e r c ia l ^ u o I is I t ^ e m B
not taken m uch below 3 3 4 % , and anything that is not of
the very choicest quality demands the full Bank ra te . which
[From our own Correspondent.]
is 3 3 4 % . The Bank return shows the usual m ovem ents
L on don , Satu rda y, J u ly 7 1906.
A m ongst the bankers and big financial houses in L ondon consequent upon the turn o f the half year. W e have re­
there is a more hopeful feeling this week than last regarding ceived this week about a quarter o f a m illion from abroad,
th e ou tlook in Russia. The disaffection'show n last week in bu t the demand for internal circulation has been so large

J u l y 21 1906.

THE

C H R O N IC L E ,

135

that this has very much more than been absorbed. The reEnglish Financial Markets— Per Cable.
serve consequently shows a decrease of very nearly a million
The daily closing quotations for securities, &c., at London
as
reported by cable have been as follows the past week:
and three-quarters sterling, and is now down to under 25
London.
Sat.
Week ending July 20.
Mon.
Tucs.
Wed.
millions sterling, being 41 } ' i % of the liabilities. This is a
Thurs. Frl.
Silver per oz------------ -------- d 30 5- 16 30 7- 16 3034
3034
30 3-16 30 3-10
87 >*
87 13 -1G 87 2*
decline in the percentage alone of no less than 6k£ compared Consols, new, 2A P- c ------- - 87 13-16 S7J4
86 15-10
For account........ .............
8 / 15- 16 87 15- 16 87Js
87 n -ir 87
with the figures of last week. The reserve, however, is only French Rentes (in Par.) fr_„ . 96.72 34 96.82 34 97 15 97.07 34 96,87*4
b Anaconda Mining Co------- . 12
12
12 34
12*4
12 *s
s o 7*
906x
a million and a quarter less than it was at this time last year, Atchison Topeka A Santa Fe SO
90
i0
8924
P referred.... ........... ........ -1 0 2 *
103*4
10234
103
103
102 hi
•
1;' 11 j
and its proportion to the then liabilities was about 13^ % Baltimore Ohio................ -11934 120
12034
120*4
11924
Preferred
------- ---------- _ 96
96
96
96
90
90
Canadian Pacific__________ - 163%
164
better than at present.
16424
16434
16324
16324
Chesapeake tfc Ohio. _ ___ - 56 ■s
5724
5724
57,^
5034
5734
17
The India Council offered for tender on Wednesday 40 lacs Chicago Great Western___ . 17
17A
1734
17
17 A
Chicago Milw. & St. Paul.. .17934
179
182
181*4
182
180)1
40
41
41
40*4
of drafts, and the applications exceeded 3173^ lacs, at prices Denver A Rio Grande, com. _ 40
4124
Preferred . ................ .
86
87
86
86
SGJ-I
ranging from Is. 3 31-32d. to Is. 4 l-32d. per rupee. Appli­ Erie, common. ____ _____ - 4024
41
40 24
4124
4134
4024
79
79
First preferred - .............. . SO
7934
79*4
79*4 *
Second preferred_______ _ GS
68
70
cants for bills at Is. 4d. and for telegraphic transfers at Is.
7034
7034
Illinois Central__________ -18034
182
is ? jf
182
18134
18()S4
146
146
4 l-32d. per rupee were allotted about 14% of the amounts Louisville & Nashville____ .14434 145
146 A
14734 •
Mexican Central---------_ 20
20
21
21
20
2034
Missouri Kan. & Tex., com. - 3234
applied for.
33
33
3234
3334
33
Preferred _____________ - 6734
69
6734
6S*4
6834
6834 •
403^
41
41
The following return shows the position of the Bank of National RR. of Mexico__ . 4034
40
WV2
N. Y.Central & Hud. Riv__ -13334
135
135
135
136
34
•
13334
England, the Bank rate of discount, the price of consols, &c., N. Y. Ontario <fc Western. _ _ 4724
48
4724
4824
4824
4824 *
Norfolk & Western, com__ - 8834
90
S824
8924
8934
8934 •
P referred.... ................... _ 94
94
compared with the last four years:
94
94
94
94
1906.

1905.

J u lg 4.

J u ljy 5 .

1904.
J ulH 6 .

1903.

1902.

J u lg 9.

J u lg S.

£

Circulation.......... . 30,280,620 30,711*275 29.319.S25 29,983,605 30,007,445
Public deposits___ 12,093,255 11,361,171
7.916,247
7,668,70S 10,461,187
Other deposits------- 48,369,459 49,955,542 42,355,262 40,643,664 41,635,170
Governm't securities 16.977,133 16,752,44^ 16,903,766 15,275.513 18,486,460
Other securities___ 36,547,195 36,374.819 28.009,300 26,224,7* 26,318,295
Reserve,notes&coin 24,968,889 26,200.508 23,406,356 24.907,203 25,437,357
Coin«fcbull..both dep 36,799,509 38,461,783 34,276,181 36.715.S0S 37,689,802
Prop, reserve to lia­
fl
bilities..........p .c .
41A
42%
46 7-16 ,
51 7-16
4S 11-16
Bank rate____ p .c .
3*4
2A
3
3
3 •;
Consols, 2% p . c —
87 11-16
90*.s
92%
90 1-16
96 3-16
30d.
27d. 26 ll-16d.Silver ......................
24 7-16d.
24 9-16d.
Clear .-house returns 324.S7S.000 335,3S4,000 263.021,000 210,758,000 186,923,000

Northern Pacific---------------- .205
a Pennsylvania----------------- - 64 A
a Reading C o ............ ......... - 6034
a First preferred. __ ___ - 4724
a Second p referred ___ - 49
Rock Island Co------------ __ - 2324
Southern Pacific ______ . . - 6724
Southern R y., com__ _____ - 3434
Preferred
________ . -10 1
I'nion Pacific, com________ -14634
Perferred _ ________
- 9734
U S. Steel Corp., co m ._ _.
Preferred ______ _____
W abash ------------------------ - 1934
Preferred ___________ __ 46
81
Debenture B’s________
a Price per share.

205
6424
6024
4624
48
2324
67 V8
34 34
101

147
9634
3424
10324
19J4
4634
8034

64*4
62
46
45
6924
35 A

102

14824
9634
3524
105
20

207
6424
6124
4624
48
2434
69
3534

206
6424
6124
4624
48
24
69
35

147Vs
96
3524
10424

14724
97
3534
10424

47
8034

47
8034

101

20

46A
80*4

206
65
6224
4,624
48
2434
71*4
35

101

•
‘
•
■

101

14934
97
3524
10534

*
*’

^
47
’ •]
8034 ;•
-

20

20

b £ sterling.

The rates for money have been as follows:
July 6 .
3*4

June 29.

June 22.
334

June 15
4

Bank bills—3 months___
3@ 3 1-16 3 3-16@3K 3 3-l6@3A
— 4 months.. 3 1-16@3*4 3 3-16Cc%3%
3%

3Vs

Bank of England rate______

Open Market rates—

— 6 m o n th s .___

Trade bills—3 months___
—4 months-----

Interest allowed for deposits—

By joint-stock banks____
By discount houses:
At call______ ________
7 to 14 days___________

3A

3A@3Vs
3%
3A@3%
2

3 3-16(<$3A

2

2

2%
2%

2A
2A

2%
2A

3A
3A@3H

3%
3A
3A@3 H

3VS
3%
3H@4
3M @ 4

2A
2%
3

The Bank rates of discount and open market rates at the
chief Continental cities have been as follows:
July 7.
June 30.
June 23.
June 16
Rales of
Bank
Open Bank
Open Bank
Open Bank
Open
Interest at—
Rate. Market. Rate. Market. Rate. Market. Rate. Market.
Paris __ ------------ - - - 3
2%
3
2Vs
3
2V2
3
2A
Berlin------------ --- - - - 4A
3V2
3%
3VZ
4A
3%
4A
4V2
Hamburg. ______ - - - 4*4
3%
3%
3%
434
3
Vs
4A
4*4
Frankfort ______ - - - 4V2 3 7-16
4Vo
3%
4*4 3 11-16
434 4 1-16
A m sterdam ____ - - - 4A
4
3%
4V2
4V2
3%
4*4
3%
Brussels _______ - - - 3*4
3%
3V2
3%
3%
3V2
334
3 Vs
X ie n n a ________ . . . 4
3 11-16
4
3V8
4
3 V8
4
3Vs
St. Petersburg__ - - - 6V2 nom.
6V2 nom.
6*4 nom.
7*4 nom.
M a d rid ___ _____ . . . 4V2
4
4
4
4
4A
434
4A
Copenhagen ____ . . . . 5
5
5
4V2
5
4*4
4H ':
4A

Messrs. Pixley & Abell write as follows under date of
July 5:
GOLD.— With Paris bidding in the open market the Bank also advanced its buy­
ing price, and has thus been able to secure most of this week’s arrivals. The U. S. A.
took £102,000 in Eagles from the Bank on the 29th June, where, during the week,
£517,000, mostly in bars, has been received. Arrivals— Cape, £877,000; Brazil,
£10,000; West Indies, £3,000; total, £890.000. Shipments— Bombay, £43,000;
Colombo, £5.000; Calcutta, £ 13,000; total, £61,000.
SILVER.— There has been little doing during the past week. Quotations kept
steady until the 2nd inst., but since then we have fallen to 29 13-16d. for spot, at
which the market closes very quiet. Spot silver being in full supply, the quotation
for forward is now only 3-16d. under. The Indian price is 76 3-16 per 100 Tolahs.
Arrivals— Xew York, £108,000; West Indies, £7,000; total, £ 115,000. Shipments—
Bombay. £11,575; Calcutta, £131,800; total, £143,375.
MEXICAN DOLLARS.— No transactions to report.
£37,300. Shipments—Calcutta, £37,200.

Arrivals— New York,

The quotations for bullion are reported as follows:
G O L D .

June 28. \
S IL V E R .
July 5.
June 2 8
s. d. \ London Standard.
d.
d.
Bar gold, fine, oz-------- 77 9 % 77 9% Bar silver, fine, oz____ 29 13-16 30 3-16
London Standard.

U. S. gold, oz........... ..
German gold coin, oz__
French gold coin, oz—
Japanese yen, oz_____

July. 5 .
s. d.

76 4 % 76
76 4 % 76
76 4 % 76
76 4 % 76

4%
4%
4%
4%

I “ 2 mo. delivery, oz_29%
29 15-16
Cake silver, oz_______ 32 3 - 1 6 - 32 9-16
Mexican dollars______ nom.
nom.
i

The following shows the imports of cereal produce into
the Lmited Kingdom during the season to date compared
with previous seasons:
IMPORTS.

Forty-four weeks—
1905-06.
Imports of wheat, cw t-_..................76,296.590
18.633,500
Barley --------------Oats---------------12.733,600
Peas------------------------------------------ 1,429.905
B ean s---------------545,490
Indian corn____________
38.421.900
Flour ---------------------------------------- 12,493,670

1904-05.
86,134,800
19,360,600
13,400,000
1,877,158
1,354,210
34,303,700
9,612,120

1903-04.
78,041,136
28,114,526
12,864,494
2,060,790
1,901,548
40,082,267
17,262,443

1902-03.
69.329,086
22,398.258
12,595,320
1.669,827
1,318,125
33.026.842
16.451,128

Supplies available for consumption (exclusive of stock
on September 1):
1905-06.
Wheat imported, cwt.....................76,296,590
Imports of flour............................. 12 19
Sales of home-grown ................... 27,370,672

1904-05.
86.034.800
13,373,948

1903-04.
78,041.136
17,262,443
16.324,023

1902-03.
69,329.086
16,451,128
22,013.296

r* Total ...................... .............. .116,160,932 109,020.868 112,628,202 107^793.510
26s. 4d. 27s. 9d.
Average price wheat, week_______
30s. 3d.
31s. 8 d.
Average price, season ..................
28s. 7d.
32s. 7d.
27s. 2d. 25s. 11 >2 d .

The following shows the quantities of wheat, flour and
maize afloat to the United Kingdom:
This week.
qrg- 3.075,000
Wheat .......................
Flour, equal to.......................__qrs_ 185.000
Maize........ .................................qrs.
990,000

Last week.
3,190.000
220,000
995.000

1904-05.

3.020.000
110,000

990,000

1903-04.
3.345.000
180.000
955.000

K om rxcrctuX

m u l

i t l i s cclh u xe cnis plexus

TREASURY CURRENCY HOLDINGS.— The following
compilation, based on official Government statements, indi­
cates the currency holdings of the Treasury on the first of
May, June and July 1906. S ta tem en t fo r co rresp o n d in g
dates in p r e v io u s y e a r w ill be fo u n d in o u r is s u e of J u l y 15
1905, p age 193.

TREASURY NET HOLDINGS.
June 1 1906.
May 1 1906.
Holdings in Sub-Treasuries—
S
$
Net coin and gold bullion___________ . 260,229,778
269,690.707
14,116,656
Net silver coin and bullion__ _______ . 14,075,988
26,782
20,961
Net U. S. Treasury notes___________
11,128,123
Net legal-tender notes
_ -----------9,550,695
13,869.358
Net national bank notes______ ___ . 11,880,323
7,045,873
7,425,109
Net fractional silver _ -------------------796,046
803,907
Minor coin, &c------- -------- ------------- .

July 1 1906.
S
284,421,243
13.190,312
47,402
10,279,562
12,228,752
6,596,920
1.388,175

Total cash in Sub-Treasuries------- .(2303,986,761
Less gold reserve fund.................... .. 150,000,000

(2316,673,545
150,000,000

(2328,152,366
150,000,000

Cash balance in Sub-Treasuries----- . 153,986,761
Cash in national banks________ ___ . 102,918.772
3,713,519
Cash in Philippine Islands--------------- -

166,673,545
92,534,755
4,318,437

178,152,366
93,986,237
4,580,647

Net Cash in banks, Sub-Treasuries.. 260,619,052
Deduct current liabilities_a------- --- . 103,492,827

263,526,737
103,141,361

276,719,250
98,631,967

Available cash balance___________ . 157,126,225

160,385,376

178,087,283

a “ Chiefly disbursing officers’ balances.”
, ,
d Includes SI.363,381 silver bullion and $1,388,175 minor coin, <fec., not included
n statement “ Stock of Money.”

DIVIDENDS.
The following dividends have been announced this week:
Per
Cent.

Name of Company.
Railroads (Steam).
Boston
Maine common (quar.) _ __
Preferred
__
_______
Illinois Central (No 1031 ___
___
National R R Co of Mexico pref__ _ _
New York New Haven & Hartf. (quar.).
Vandalia
_
_______
___
Street Railways.
Helena (Mont.) Light & R y., pref. (quar.)
Jacksonville (Fla.) Elec.Co.,com.& pref__
Twin City R . T., Min neap., com. (quar.)
Banks.
German-American
____________
Miscellaneous.
Amnlg;)mo.tod Copper (quar 1 __ ______
Extra
_ _
__
__
American Chicle, common (monthly) —
Amer. Graphophone, pref. (qu.) (No. 45)
___ ____ ______
Preferred (quar.)
_____ __ _ _________
Cambria Steel
ConsolIdat.ion Coal (quar ) ___ _____
Claflin Co (H B ) 1st pref (q u a r .)___
Second preferred (quar.)Edison Elec. 111. (Boston) (qu.) (No. 69)
Genero 1 Asphalt pref_
Inter. Steam Pump, pref .(qu.) (No. 29)
.>1«ji1li i£iii l^imn , illicit (X r u
.) —
b National Glass pref (quar.)
New England Cotton Yarn, pref. (quar.)
Pullman Company (quar.) (No. 158) —
Trenton Potteries pref (quar.)__ ____
United Bank Note Corp., common------Western Telephone & Telegraph, pref—
a Transfer books not closed.

When
Payable.

Books Closed.
Days Inclusive.
Sept. I
Aug. 15
Aug. 19
Aug. 10
S ep t.15
Aug. 4

2
2

Oct.
1 Holders of rec.
Sept. 1 Flolders of rec.
to
Sept. 1 Aug. 2
to
Aug. 10 A ug. 1
of
rec.
Sept. 30 Holders
Aug. 15 Holders of rec.

IX
S3
1A

July 31 July 24
Aug.
1 July 19
Aug. —

to
to

July 31
Aug. I

3

Aug.
Aug.

1 July 25
1 July 18

to
to

Aug. I
Aug. I

Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
July
Aug.
Aug.
Aug.
Sept.
Aug.
Aug.
July
Aug.
Aug.
July
Aug.
Aug.

27 July 27
27 July 27
20 Aug. 15
15 Holders
1 July 22
1 July 22
15 Holders
31 July 26
1 July 22
1 July 22
1 Holders
1 Aug. 19
1 July 21
15
26 July 19
1 July 24
15 Holders
25 Holders
15 Aug. 2
1 July 3

to
to
to
of rec.
to
to
of rec.
to
to
to
of rec.
to
to

Aug. 12
Aug. 12
Aug. 20
Aug. 1
July 31
July 31
JulySlft
July 31
Aug. 1
Aug. 1
July 18
Sept. 2
Aug. 1

to
to
of rec.
of rec.
to
to

July
July
July
July
Aug.
July

1H
3
3*4

2

1A
A

1
1X

1A

114

1 *4

1*4

1A

114
2*4
2

1A

iA
IX
114

2
2

T
214

26
31
31
19
15
31

b Correction.

Auction Sales.— Among other securities the following not
regularly dealt in at the Board, were recently sold at auction
By Messrs. Adrian II. Muller & Son:
Stocks.
30 Equit. Tr. Co. of N. Y
465
20 Westchester Tr. Co_
-190 ]A
27 U. 8. Life Ins. Co_. _
100
10 Phenix Fire Ins. Co. of
B rooklyn....... ..........
-300

Bonds.

$37,000 Brunswick Construe.
Co. 1st Cons. 4H*s 1923,
with July 1905 coup. on.
$320 per bond paid Dec. IS
1905 on account principal
<fe accr’d hit.; also $500 do.

136

TH E

Statement of New York City Clearing House Banks.—
The following statement shows the condition of the New
York City Clearing House banks for the week ending
July 14.
It should be distinctly understood that as
to all items except capital and surplus the figures are the
averages of the daily results, not the totals at the
end of the week. In other words, in reporting loans and
deposits and holdings of specie and legal tenders, the
practice is to take the aggregate of the amounts for the
several days of the week and divide this aggregate by the
number of days.
W e om it two cip h ers

0 0

B an ks.
s om itted.

C a p ita l.

$

Totals

in all cases.

L oan s.

S u r p lu s .

Bank of N. Y _ .
2,000,0
2.877.3
Manhattan Co_
2.699.0
2.050.0
Merchants’ ___
1,504,6
2,000,0
3 .0 0 0 . 0 3 . 4 6 5 . 0
Mechanics'___
1.500.0
A m erica..........
4.072.3
P h e n ix _______
1.000. 0 3 2 8 . 4
City _________ 25 .0 0 0 . 0 1 9 . 4 0 0 . 3
300.0
Chemical...........
7.748.5
Merchants’ E x.
439,2
600.0
Gallatin_______
2.307.0
1,000,0
300.0
Butch. &Drove.
156.1
700.0
390.4
Mech.&Traders’
G reenw ich___
604.2
500.0
5 .0 0 0 . 0 4 . 5 4 8 . 3
Amer. E x c h ...
Commerce_____ 2 5 .0 0 0 . 0 1 3 . 0 0 8 . 4
M ercantile___
3 .0 0 0 . 0 4 . 6 2 8 . 4
422,7
P a c ific ___ _
676.4
Chatham______
450.0
1.030.0
200.0
People’s ______
453.1
2 .0 0 0 . 0 2 . 0 4 1 . 2
North America.
3 .0 0 0 . 0 7 . 6 2 2 . 4
H anover______
Irv in g ________
1.000. 0 1 . 1 3 3 . 9
Citizens’ Cent__
789.5
2.550.0
335.2
500.0
N assau_______
1.458.9
Market & F ulfil
1 ,000,0
Metropolitan __
662,1
.000,0
3.578.3
,000,0
CornExch_____
O riental______
1.154.4
750.0
7.008.9
Imp. & Traders’
1 ,500,0
P a r k _________
7.764.8
,000,0
East R iv e r ___
119.0
250.0
3 .0 0 0 . 0 3 . 0 6 3 . 4
F o u r th _______
300.0
Second _______
1.673.1
F ir s t_________ 10.000. 0 1 7 , 2 7 7 , 1
1 .0 0 0 . 0
N. Y . Nat. E x.
900.1
Bowery ______
776.2
250.0
N. Y . C ounty._
842.2
200.0
577.3
750.0
German-Amer .
Chase_________
1,000,0
5.731.6
100.0
Fifth Avenue. _
1.789.5
German Exch._
778.2
200,0
200,0
Germania_____
904.7
Lincoln _______
300.0
1.565.8
Garfield_______
1.344.9
1,000,0
F ifth _________
457.6
250.0
1,000,0
M etropolis___
1.684.6
West S ide____
811.6
200.0
Seaboard______
1.170.6
1,000,0
1st Nat., Bklyn.
680.3
300.0
L iberty_______
2,161,8
1,000,0
N. Y . Prod. Ex.
1,000,0
533.4
New Amster__
239,1
1,000,0
A s t o r ________
350.0
639.8

(00)

$

S p e c ie .

L eg a ls.

S

S
1.719.0
2.464.0
1,020,5
1.947.0
2,423,8
187.0
10,321,2
1.988.0
308,6
628.3
85,8

2,303,
5,425,
2,583,
3,178,
4,969,
1,134,
31,169,
4,471.
1,462,
897,
588,
926,
876,
3,048,
13,257,
3,329,
249,
661,
171,
2,642,
7,815,
1,593,
3,190,
348,
925.

17.553.0
24.316.0
11.368.5
19.511.0
22.940.6
6.491.0
152,096,4
25.018.0
5,925,3
8.185.5
2.532.1
6.099.0
5.138.7
27.456.4
133,194,7
21.291.2
3.560.8
5.755.0
2.189.0
15.277.7
49.260.8
7.628.0
18.507.8
3.451.6
7.225.0
9.737.7
35.132.0
9.700.8
23.708.7
68.164.0
1.183.5
18.023.4
10.343.0
85.379.2
9.162.8
3.610.0
4.857.6
3.805.2
48.865.8
9.831.5
3.212.8
4.516.7
13.151.5
7.766.0
2.962.7
10.662.8
4.400.0
14.159.0
4.651.0
10,478,9

2,110,

6,851,
1,615,
3,833,
16,507,
182,
2,838,
864,
17,032,
1,937,
546,
1,067.
749,

12,211,

2,347.

210,

500,
1,510,
1,654,
560,
1,309,
774,
2,873,
801,
1,610,
4,455,
784,
986.

6.211.2

5.844.5
4.738.0

D e p o sits,

S

666.0

632.5
1.854.1
15,025.8
1.338.0
444,1
923.0
583.1
1.192,4
7.534.7
389,9
1.646.7
445.0
712.2
305.4
4.204.0
457.8
1.324.0
3.554.0
134.3
2.523.0
1.716.0
2.316.2
349.5
316.0
533.8
179.1
1.590.1
502.6
845.0
757.7

2.112.1

26
16
67
38
1,83
67
50
37
57
21

8
2
6
5
1
3
7
4
7
6

.3
.9
.2
.0
,0
.0
.1
.2
.5
,0

15,566,
28,530,
13,900,
19.236,
25,828,
5,454,
142,428,
24,045,
6,505,
5,907,
2,793,
6,609,
5.890,
19,729,
110,069,
17,871,
3,852,
5,821,
2,712,
15.028,
57,728,
7,466,
18,527,
3,740,
6,762,
9,915,
43,091,
9,643,
20,607,
77,671,
1,333,
20,090,
10,410,
71,620,
8,961,
4.105,
5,952,
3,677,
55.006,
11.330,
4,231,
5,383.
14,283,
7,913,
2,979,
10,164,
4,729,
16,666,
5,133,
8,393,
7,255,
6,756,
4,623,

a'

R ese’ v e

„0 2 %5 . 8

0 27.6
25.9
26.6
28.7
24.2
29.1
26.8
29.2
25.8
24.1
24.0
25.6
24.8
25.6
26.1
18.0
27.2
27.8
25.5
0 26.6
0 26.5
2 26.1
9 21.2
6 24.2
24.3
25.6
21-4
25.0
25.8
23.6
26.6
24.7
27.0
25.5
21-0
26.9
25.2
25.0
25.1
24.9
23.3
25.3
24.2
24.2
19.5
24.5
28.2
28.7
25.2
25.2
20.1

26.0

117,972,7 149,608,4 1036,233,4 182,941,3 85,8 7 2 ,5 1023,932,0 26.2

Reports Of Non-Member Banks.— The following is the
statement of condition of the non-member banks for the
week ending July 14 1906, based on average of daily
results:

00

B an ks.
s o m itted . C apital.

S u r­
p lu s .

L oans
and
In v est­
m en ts .

(00)

in all cases.

L eg a l
T en d er
S p e c ie .
and
B ank
N o te s .

D e p o s it with
C lea r­
in g
A g e n t.

Other
B anks

N et
D ep osits.

cfee.

%

W a s h . H ’g ’ t s
100,0
C entury ___
200,0
Chelsea E x __
100,0
C o lon ia l___
100,0
C olu m bia _.
300,0
C o n so l. N a t . 1,000,0
F id e lity ___
200,0
14th Street. _
500,0
H am ilton _ _
200,0
Jefferson_ _ _
500,0
M t. M orris ._
250,0
M u tu a l____
200,0
19th W a r d ..
200.0
P laza . . . __
100,0
R iv ersid e__
100,0
S ta te. __
100,0
12th W a r d ..
200,0
23rd W a r d ..
100,0
U n ion E x ch .
750,0
U n ite d N a t . 1,000,0
Y ork ville__
100,0
C oal & I. N a t
500,0
34th St. N a t.
200,0
B a tt.P k .N a t.
200,0
B orou gh
o f B r o o k ly n .

B
B
B
M
M
N
N
N
U

o r o u g h __
200,0
r o a d w a y __
150,0
r o o k ly n __
300,0
frs.’ N a t ..
252,0
e c h a n ic s’_ _ 1,000,0
assau N a t.
750,0
a t. C ity__
300,0
o rth S id e..
100,0
n ion
__
1,000,0
Jersey C ity.
First N a t __
400,0
H u d . Co. N a t
250,0
T hird N a t__
200,0
H ob oken .
First N a t __
Secon d N a t.

%
$
896,9
160,5
141,1 1,209,9
90,0
829,4
3 5 5,5 4,211,6
4 1 9,6 6,694,0
1,101,5 5,0 1 4 ,1
140,0
1,000,9
144,1 5 .4 6 6 ,0
164,5 4.949,5
5 8 0,4 4,593,6
172,7 3.0 4 2 ,0
2 9 6,2 4,013,3
230,7 3,359,3
294,1 3,7 3 0 ,0
107,3 1,755,8
1,324,5 1 2 ,8 5 4 ,0
173,0 2,5 0 6 ,0
149,9
1,796,3
703,1
7,357,4
198,4 1,435,0
353,5 3,378,1
513,7 4,320,5
208,6
1,228,3
110,2
688,4

$
13,0
36,0
49,1
89,3
325.0
681,2
16,3
202,4
277,1
9,1
147,9
24,6
20,6
197,0
17,5
847,0
39,0
68,3
359,1
241,4
40,2
675,1
304,6
122,3

$
34,4
52,7
39,3
357,0
298,0
55,6
59,1
338,4
226.7
276,6
100,1
276,0
.336,1
193,0
137,8
423,0
264,0
185,2
180,0
54,4
284,6
231,1
14,3
9.0

129,9
387,2
175,8
676,7
907,7
874,7
632,9
196,9
1,039,5

2,590,5
2.987.4
1,862,8
4,760,9
10,546,8
6,769,0
3,454,0
1.662,1
10,706,0

42,2
12,5
162,8
431,4
233,1
269,0
135,0
29,2
388,0

211
230
81
214
777
551
437
119
778

1,153,1
687,0
324,2

4,503,1
2,989,7
1,777,8

169,0
109,8
46,5

336,1
92,7
98,2

57
18
T otal J u ly 14 12337.0 1607
T otal J u ly 7 12337,0 1607
T o t. J u n e 30 1 2 3 3 7 ,0 (1 6 0 7
110,0
125,0

1
6
6
6
6

,9 2,7
,3 1,5
,9 1452
,9 1454
,9 1444

92,2
00,1
32.7
07,3
76,4

16
4
7,04
6,49
6,78

7
5
4
3
1

.8
,5
,9 8,4
,8 7.8
,0 7,9

5
6
7
S
6

7
0
2
9
6

,7
,3
,3
,5
,7
,0
,0
,6
,0

,8
,6
,9
.9
,0

$

65,7
62,4
55,0
464,4
443,0
414,9
83,5
437,4
137,1
201,7
303,6
245,7
329,0
285,0
76,1
934,0
144,0
128,4
252,0

8 7 ,7

$
38,2
142,2
194,4
3,8
26,0
35
235
163
57
58

,0
,0
,7
,4
,3

189,2
789,0
47,0
129,5
600,0
636,8
79,3
88,0
55,0

%

743.8
1,188,7
1,025,6
5.008,6
7,129.0
3,743,1
1,013,5
6,326,4
5,467,9
4,342,5
3,514,2
4,081,8
3,655,6
4,051,0
2,007,4
15,049,0
2,975,0
2,188,4
7,273,7
1,341,1
3,874,7
4,218,0
1,317,3
520,3

23
51
14
6

3
0
2
2

.9
,0
,6
,3

14
20
39
56
1,23
1,01
48
4
1,76

1
0
1
5
6
3
9
0
4

,6
,3
,4
,7
,8
,0
,0
,7
,0

232,9
71,7
34,0
249,0
182,0
202,0
301,7
1,113,0

2,983,7
3,160,0
2,281,2
5,202,1
12,483,9
6,547,0
4.171,0
1,884,2
13,199,0

1,930,3
156,6
456,6

653,0
87,6
32,4

6,049,7
2,649,6
2,158,4

173,7
64,4

172,3
96,1

2,717,9
1,535,5

14,723.5
16.317.8
15,330,2

(00;

W e o m it two cip h ers

B an ks.

C apital
and
S u r p lu s .

L oan s.

S p e c ie .

in a ll these fig u res.

L eg a ls.

D e p o s its ,

a

N ew York
$
$
$
$
$
J u n e 16-_ 266,709,1 1000,076.3 185,357,0 8 3 ,7 6 1 ,9 1048,182,1
June 23
: 81.397.2 1049,472,3
206,709,1 1057,758,3
J u n e 3 0 -- 267,581,1 1056,944,9 187,184,5 87,275,5 1049,617,0
J u ly 7 -. 267,581,1 1050,578,1 181,281,0 8 4 .2 7 0 .0 1036,343,7
J u ly 14. - 267,581,1 1036,233,4 182,941,3185,872,5 1 0 2 3 ,9 3 2 ,0
B oston.
J u n e 2 3 .. 4 2.936.0 181.217.0 17.725.0 5,381,0 2 0 7 .3 1 5 .0
J u n e 3 0 __ 4 2 .9 3 6 .0 1 8 2 .5 0 2 .0 17,4 8 6 ,0 ' 5 ,4 4 4 ,0 2 0 7 .5 4 8 .0
J u ly 7 .. 4 2 .9 3 6 .0 183.377.0 16,354,0; 5,064,0 2 1 3 .3 3 5 .0
July 1 4 .. 42,936,0 183.456.0 1 6.193.0 6,00 2 ,0 2 1 2 .7 4 4 .0
Phila.
J u n e 23._ 49,860,0 218,279,0
61,936,0
255,472,0
J u n e 30_ _ 49,860,0 2 18,929,0
61,189,0
254,231,0
Ju ly 7 -. 49,860,0 218,356,0
58.856,0
251.401,0
Ju ly 1 4 _. 49,860,0 218,346,0
59,610.0
254,727,0
E
a
a In clu d in g for B o sto n a n d P h ilad elp h ia the ite m “ d u e to o
G o v e r n m e n t deposits. F o r B o sto n these G o v e r n m e n t deposits
to $2,590,000, on J u ly 7 to $ 2 ,5 98,000.

C ircu la lio n .

4
4
4
4
4

1
1
1
1

8
8
8
8
8

,4
,4
,3
,4
,5

7
7
7
7
4
4
4
4

$

C le a r in g s .

s

8
7
6
3
5

7
1
2
5
6

,4
,1
,4
,6
,5

1,7
1,7
1,8
1,8
1,6

6
6
1
7
7

9
6
2
2
4

,2
,6
,5
.4
,3

4
3
1
2
1

6
3
0
0
6

,0
,7
,0
.2
,4

.5
.5
.5
.5

4
2
2
8

9
2
9
7

.0
.0
.0
.0

1
1
1
1

4
3
5
5

2
8
4
8

.8
,3
,2
.8

6
3
3
6

0
1
6
7

.7
,1
.0
.8

.0
,0
,0
,0

5
0
4
4

8
6
2
7

.0
,0
,0
,0

1
1
1
1

4
5
4
4

9
4
3
4

,9
,3
.3
,5

6
6
1
9

2
4
1
1

,8
,7
,4
,8

th er b a n k s” a n d also
am ou n ted on July 14

Imports and Exports for the W eek.— The following are
the imports at New York for the week ending for dry goods
July 12 and for the week ending for general merchandise
July 13; also totals since beginning first week in January.
F O R E I G N

I M P O R T S

A T

N E W

1906.

Y O R K .

1905.

1904.

D ry G oods
______
General M erchandise______

$2,863,889
10,815,929

$2,202,569
10,562,996

$1,892,925
7,204,992

1903.
$2,732,309
10.860,540

T o ta l_________________
S in ce J a n u a ry 1 .
D ry G o od s_______________
General M erchandise______

$13,679,818
$86,832,699
321,461,379

$12,765,565

$9,097,917

$13,592,849

$75,395,068
307,396,460

$65,041,673
256,794,492

$73,432,565
253,773,106

F o r w eek .

Total 28 w e e k s _________

$408,294,078 $382,791,528 $321,836,165 $327,205,671

The imports of dry goods for one -week later will be found
in our report of the dry goods trade.
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Juty 16 and from Jan. 1 to date:
E X P O R T S F R O M

F or the w eek _ _ _ _ _ _ _ _ _ _ _ _ _
P reviously reported _ _ _ _ _ _ _
Total 28 w
N o te. — A s
from w eek t
piled b y th e
to or deduct

N E W

Y O R K

F O R T H E W E E K .

1906.

1905.

1904.

$11,571,733
326,115,134

S IO .219,488
276,723,271

$8,114,368
252,671,272

1903.
S 7,611,480
267,100,924

e e k s _ _ _ _ _ _ _ _ _ $337,686,867 $286,942,759 $260,785,640 $274,712,4
th e figures o f e x p o rts a s r e p o rte d b y th e N e w Y o r k C u s t o m H o u
o w e e k frequ en tly sh o w d iv ergen ce fro m th e m o n th ly totals, also c o
C u s t o m H o u s e , w e shall fro m t im e to t im e a d ju st th e tota ls b y a d d i
in gifrom the a m o u n t “ p reviou sly rep o rted .”

04
se
m ­
ng

The following table shows the exports and imports of
specie at the port of New York for the week ending July 14
and since Jan. 1 1906, and for the corresponding periods in
1905 and 1904:
I M P O R T S O F S P E C IE A T N E W
I

E x p o r ts .
W eek .

Great B ritain ____________ _
France _______ ______________ _ _
Germany ____ ____________ _
West In d ie s _____________________
Mexico _________________________
South Am erica__________ ________
All other countries___________ _ _

Y O R K .

S in ce J a n . 1

V

Im p o r ts .
W eek .

S in ce J a n . 1

S6.952
5,000

$633,978
1,056,046
4,045.000
34,350

$889,310 S25,138,190
9,103,114
9,209,084
1,232,570
77.868
7,077
155,964
1,031,933
14,668
575
155,578

$11,952

$5,769,374
37,679,102
64,455,066

$989,498 $46,026,433
14,912
6,079,881
10,215
6,344,412

Great|Britain__ __ _________
France _____________ ________
Germany _________________ _
West Indies___________________ _
Mexico ______________ ____ _____
South America____________ ______
All other countries______________

$950,935 $29,173,769
721.000
13,760
94,640
100.000
6,200

5,632
37,000
2,668
293

$310
3,903
10
91,957
467,738
702,545
44,450

Total 1906 _____________________
Total 1905 _____________________
Total 1904 _____________________

8950,935 $30,109,369
774,114 17.530.584
872,020 23,049,197

$45,593
40,237
2,407

S I .310,913
1,820,730
484,481

Total 1906________________________
Total 1905___________________
Total 1904 _____________________

7,000

Silver.

N . Y . City.
B orou g h s o f
M a n .& B r ’x .

New York City* Boston and Philadelphia Banks.— Below is
a summary of the weekly returns of the Clearing House banks
of New York City, Boston and Philadelphia. The New York
figures do not include results for non-member banks.

E X P O R T S A N D

a U n ited S tates deposits included, $13,704,800.

W e om it two cip h ers

['V OL. L X X X I l l

C H R O N IC L E

6.995.5 1 5 9 079.8
7,282,3 1 6 0 0 5 9 .S
6.922,0,157089,2

Of the above imports for the week in 1906, $577,595 were
American gold coin and $2,793 American silver coin. Of the
exports during the same time $10,000 were American gold
coin and $____were American silver coin.
Auction Sales.— See preceding page.

^Banking a n d F i n a n c i a l .
T R A N S C O N T IN E N T A L

MAP

M ailed upon request.

Spencer Trask & Co.,
In v e stm e n t B a n k e r s .

Sranch Office, Albany, N.Y. William and Pine Sts., New York.

M

o

f

f

a

t

&

W

h

i t

e

,

m e m b ers N ew Y o r k S to ck E xchange,

6 NASSAU STREET,

HANOVER BANK BUILDING,

B e a ie rs In la v e s lm e n t S e c u r itie s
C O M M I M I O N

0 R D K R &

E X E C U T E D

F O R

C A S H

O N L Y ,

July 21 1906.]

THE CHRONICLE

ilia n hers 7 (Saxette.

137

per $1,000 discount. C hicago, 10c. per $1,000 prem ium .
St. Louis, 10c. per $1,000 prem ium . San F rancisco, 30c.
per $1,000 prem ium .

For Dividends see page 135.

State and R ailroad B o n d s.— Sales o f State bonds at the
Board are lim ited to $25,000 Virginia 6s deferred trust re­
ceipts at 2 4 % to 2 4 % .
The M on ey M arket and Financial S itu ation .— The tone of
The m arket for railway and industrial bonds has been
the security market has im proved som ew hat since our last even more inactive than at any time recently. On W ednes­
issue. The volum e of business has not m aterially increased, day less than $1,000,000, par value, were traded in, and
and is therefore still small, but prices show that there has where changes occurred lower prices were generally reached,
been some aggressive buying o f stocks and eviden tly a more but taking the week as a whole the result is different. Of a
hopeful feeling exists in some quarters.
list of 18 relatively active issues, 13 are higher than last
There are several logical reasons for this better feeling. week and on ly 2 are low er.
Each week of favorable weather brings the crops o f the coun­
A m ong the exceptional features are Am erican T obacco
try into a condition where damage from any cause is less 6s, Erie convertible 4s, Colorado Industrial and W abash
likely to occu r, and this liability^ is now rapidly dim inishing debentures, which advanced a poin t or m ore.
A month later and the wheat crop will be assured over all the
U nited States B o n d s.— Sales of Governm ent bonds are
southern section o f the spring-w heat belt and the corn and
cotton crops will be m uch nearer a fixed qu antity than at limited to $20,000 2 s ,r e g ., 1930, at 104% to 10 4 % . The
present. It is now practically certain that the financial follow ing are the daily closing quotations; for yearly range
operations of the G overnm ent m entioned last w eek— the see third page following.
withdrawing of bank deposits and the disposition o f $30,Interest July July July July July July
000,000 canal bon d s— will cause no disturbance. S aturday’s
Periods 14
16
17
18
19
20
bank statem ent showed a very substantial addition to the
Q—Jan *104 *1045* 1045* *104 *1035* *1035*
1930 ......
surplus reserve and the Bank of E ngland’s weekly statem ent 2s,
Q—Jan *104 *1045* *1045* *104 *1035* *1035*
23, 1930____
Q—Feb *102 *102 *1025* *1025* *1025* *1025*
just issued shows a larger percentage o f reserve than for 3s, 190S-1918- ____ coupon Q
—Feb *102?* *1025* *1035* *103 *103 *103
3s. 1908-1918
m any m onths past. There exists, how ever, one source of 33, 1908-1918- .small coupon Q—Feb *102 *102 *1025* *1025* *1025* *1025*
Q—Jan *1025* *1025* *1035* *103 *103 *103
1907 ......
disquietude. W e refer to the unfortunate con dition o f af­ 4s,
4s, 1907....... ____ coupon Q—Jan *1025* *1025* *1035* *103 *103 *103
fairs in Russia. This has already resulted in a general de­ 4s. 1925 ...... __ registered Q—Feb *1285* *1285* *128)* *1285* *1285* *1285*
Q—Feb *1295* *1295* *1295* *1295* *1295* *1295*
4s, 1925____
pression of Russian securities wherever dealt in.
*
This
is
the
price
bid
at
the
morning board; no sale was made.
The open market rates for call loans on the Stock E x ­
change during the week on stock and bon d collaterals have
Railroad and M iscellaneous S to ck s.— The transactions in
ranged from 1 % to 3 % . T o -d a y ’s rates on call were stocks have again been on a lim ited scale. On M onday the
2 % @ 2 % % . Prime com m ercial paper qu oted at 5 % @ 5 % % market was strong in tone on aggressive bu yin g and 660,500
for endorsements and 5 % @ 5 % % for best single names.
shares were traded in, the largest num ber o f the week until
The Bank of England weekly statem ent on Thursday to-d a y . This strength was n ot m aintained, how ever, and
show ed a decrease in bullion o f £33,973 and the percentage interest in the m arket gradually subsided. The lowest
o f reserve to liabilities was 49.17, against 48.45 last week.
prices were generally recorded on W ednesday, and the
The discount rate remains unchanged at 3 % % . The Bank smallest volum e o f business on T hursday, the latter aggre­
o f France shows a decrease o f 2,500,000 francs in gold and gating less than 340,000 shares. Late on Thursday and con ­
1,425,000 francs in silver.
tinued to-d a y there was a sharp recovery in m any issues and
The New Y ork City clearing-house banks in their state­ closing prices are an average o f from 2 to 6 or 8 points higher
ment of July 14 showed an increase in the reserve held of than last week for practically the whole active list.
$3,262,800 and a surplus over the required reserve of
The exceptional features o f the railway list are Union
$12,830,800, against $6,465,075 the previous week.
Pacific, Southern P acific, R eading, Delaware & H udson and
Pacific Coast. The latter has sold to -d a y 12 points higher
Differences
than last week and the other issues m entioned are up from
from
1904.
1905.
1906.
5 to 7 points.
July 14.
July 16.
previous week.
July 15.
A naconda Mining sold to -d a y 24 points higher than on
S
S
S
S
Capital _____ ___ 117,972.700
115,972,700 115.972.700 M onday, Tennessee Coal & Iron over 9 and Am algam taed
Surplus..... .. ........ 149.608.400
139.492.800 134,323,400
Loans and discounts__ 1,036.233,400 Dec. 14,344,700 1,107.308,100 1,087.518,700 Copper abou t 5. The U nited States Steel issues are up 2 %
Circulation__ _ __ 48.556.500 Inc.
120,900 49,157,100 39,156,200 and 2 % points for the com m on and preferred respectively.
Xet deposits_______ a1023 932 001 Dec. 12,411.700 1,159.018.200 1,179,169,400
F o r daily volume of business see page 145.
Specie__
__ _ 182.941,300 Inc. 1.660.300 220.162,100 255,298.900
Legal tenders. . . .
85.872.500 Inc. 1,602,500 89,115.700 84,056,800
The follow ing sales have occurred this Aveek o f shares not
Reserve held.......... 268,813,800 Inc. 3.262,800 309.277.800 339.355.700 represented in our detailed list on the pages which follow :
W a ll Street, F rid a y N igh t, J u ly 20 1906.

25Cc of deposits
. 255,983.000 Dec. 3,102,925 289.754.550 294,792,350
I Surplus reserve__
12,830,800 ^0. 6,365,725 19,523,250 44,563,350

Sales
STOCKS.
for
Week ending July 20. Week.

Range lor week.
Range since Jan 1.
a S13.704.800 United States deposits Included, against $15,344,600 last week and
$11,398,800 the corresponding week of 1905. With these United States deposits
Lowest. Highest.
Lowest.
Highest.
eliminated, the surplus reserve would be $16,257,000 on July 14 and 810,301,225
on July 7.
82
5* Jan $6 Jan
S
2
5*
July
S
2
5
*
July
Alice
Mining_______
1
7
1
7
1,000
Xote.—Returns of separate banks appear on the preceding page.
American Malting____
400 35*July 18 3)*July 18 35* July 65* Jan
BethlehemSteel_____
600 22 July 17 23 July 16 22 July 2554 June
an Pacific subscriptions 100157 July 17157 July 171535* July158 June
Foreign E xchan ge.— The market was dull, generally C
Homestake Mining...... 200z83 July 20z83 July 20 805* Jan 8354 Apr
h eavy and w ithout special feature this week; it closed General Chemical, pref__ 100 1045*Juy 181045*July 18103 Mch 10654 Feb
X Y &N J Tel rights_ 1,075 25*July 16 25*July 14 25* June 254 July
strong, influenced by higher L ondon discounts. Gold en­ R
ensselaer &Saratoga..
25201 July 17201 July 17201 July2085* Jan
Jan
500 10 July 20 10 July 20 9 Jan
gagements reported from L on d on , $2,050,000, and from U S Leather________
Australia. $1,750,000.
T o -d a y ’s (F rid a y ’s) nom inal rates for sterling exchange
were 4 82% (S;4 83 for six ty day and 4 8 5 % for sight. T o­
d a y ’s (F rid a y ’s) actual rates for sterling exchange were
4 8185(2>4 82 for lon g, 4 8 4 5 5 @ 4 8465 for short and 4 8490
@ 4 85 for cables.
Com m ercial on banks 4 8 1 5 0 @ 4 8160
and docum ents for paym ent 4 8 0 % @ 4 8 1 % - Cotton for
payment 4 8 0 % @ 4 81, cotton for acceptance 4 8 1 5 0 @
4 8160 and grain for paym ent 4 8 1 % @ 4 81 % .
T o -d a y ’s (F rid a y ’s) actual rates for Paris bankers’ francs
were 5 2 1 )4 @ 5 2 0 % a for long and 5 1 8 % d @ 5 18% for
short. Germ any bankers’ marks were 94 3 -1 6 @ 9 4 % for
long and 94 l l - 1 6 @ 9 4 % d for short.
Am sterdam bank­
ers’ guilders were 4 0 x @ 4 0 y for short.
Exchange at Paris on L ondon to -d a y , 25f. 15c.; wreek’s
range, 25f. 1 5 % c. high and 25f. 15c. low .
The w eek’s range for exchange rates follow s:

--------- L'/ng-------------------- Short--------- -----------Cables-------SUrling. Actual—
H:zh.......4 8185 @4 82
4 8455
@4 8465 14 8490
©4 85
Low------4 8170 @4 8180 14 8440 @4 8445 4 8470
@4 8475
Parks Bankers' Francs—
High------ 5 21)4
@5 20%a 518Mh @5 18Ha
Low....... 5 2154* ©5 215*d 518%h @5 18
German'/ Bankers’ Marks—
High------ 94 3-16 @ 945*
94 11-16 © 945*d
Low....... 945* @ 94 3-16 ! 945*
@ 945*
Amsterdam Bankers' Guilders—
@s 40y
High------ ------------------ I 40z
Low...... .............._...........
40
@40 1-16
' Lew: a 1-16 of 1%. dl-32 of 1%. h3-32 of 1%.
_■PlU3: * 1-16 of 1%. x 1-32 of 1%. V3-32 of 1%.
__The follow ing were the rates for dom estic exchange on
Mew Y ork at the underm entioned cities to-d a y : Savannah
b u yin g, 50c. per $1,000 discount; selling, 75c. per $1,000
prem ium . Charleston, 1 2 % c. per $1,000 prem ium . New
Orleans bank, 1 0 c-5 p e r'$ l ,000 discountj^com m ercial, 50c.

Outside M a rk et.— Speculation in the market for unlisted
securities this week has follow ed largely the course of the
Stock E xchange. Values have im proved someAvhat from
the pronounced weakness which developed at the close last
Aveek. Greene Consolidated Copper continued prom inent,
and from 19 % reached 2 1 % , dropping back then to 2 0 % ,
Avith the close to-da y at 2 1 % . United Copper was weak,
and fell from 64 to 6 2 % . The final transaction to-day Avas
at 6 2 % ex-dividend. B utte Coalition, which recently
declined to 26, jum ped up to 3 1 % , Avith the close at 31.
Granby Consolidated was actiAm and adAmnced from 10% to
1 1 % , easing off to 1 1 % . Boston Consolidated Copper Avas
a strong feature and m oved up from 23 to 2 5 % , ending the
Aveek at 25. Utah Copper adAuxnced from 2 4 % to 2 7 % ,
but reacted to 26. Tennessee Copper lost a point to 3 8 % ,
then rose to 40 and closes at 3 9 % . Tonopah Extension was
j actiArn and ranged up from 5 % to 6 % and back to 5 % .
Nevada Consolidated Copper improAmd from 16% to 17%.
Chicago SubAvay declined fractionally to 40 % at the opening
o f the week, Avorked up to 4 5 % and closes to-da y at this
l figure. Business in industrials has been almost at a stand­
still. American Can preferred lost a point to 5 1 % . but re­
covered to-d a y to 53. American T ob a cco appreciated in
A’alue 10 points to 360, and then receded to 355. Mackay
I Companies com m on rose from 71 to 72, reacting finally to
7 1 % . The preferred declined from 7 1 % to 71, advanced to
7 2 % and closed to-da y at 71 % . Standard Oil m m ed up from
593% to 600. HaA'ana T ob a cco com m on sold up from 21%
to 22, then declined to 1 7 % . T o-d a y transactions were at
18% . International Mercantile Marine preferred fluctuated
between 25 and 26.
Outside quotations will be found on page 145.

I

New Y ork Stock Exchange— Stock Record, Daily, W eekly and Yearly
OCCUPYING
STOCKS—H IG H E S T A N D L O W E S T S A L E PR IC E S
Saturday
J u ly 14

M onday
J u ly 16

W ednes/iay
J u ly 18

Tuesday
J u ly 17

Thursday
J a ly 19

firida/ii
July 20

TW O

PAGES

STO CK S
N E W Y O R K STOCK
EXCHANGE

Range for Previous
Sales o> Range i<rr Year 1906
(jn baris of lOO-share loO>
Year (1 9 0 5 )
the
Week
Lowest
Highest
Shares
Highest
Lowest

R a ilio a ds.
31% 89
A tch. Topeka<feSanta Fe 41,325 85% May 2 96% Jan 13 77% Mas 93% Mar
99%
100
1 ,2 0 6 9 8 k J ’ly 3 106 Jan 3 . 99
*99 1 0 0
Jau 105% 8 ep
*99 1 0 0
Do * p ref.................
135%137 % A tlantic Coast Line B it..
4,450 131 % J ’ly 3 16 / % Jan 2 ( 120 Jan 170 A pr
*132 134
133 135
1 1 6 k 117% B a ltim ore <fe O h io .......... 45,625 l o o k May 2 119k Pne21 1 0 0 % Jan 117 Aug
11638 115*4 115% 116%
6 2 6 92 J ’ne27 99 % J an 5 91
*92
93%
93
93
B o pref.......................
Mai 1 0 0 Aug
92*4 92 sj
72 k 74% Brooklyn Rapid T ransit.. 109,580 71 J ’ly -12 94 % Jan 2'
56% M a\ 9 1 % Nov
72
73
72% 74%
83 Jan 1 2 87 Feb ^ | 84 Dec 91% May
*80
88
88
*80
88
*80
Buffalo <fc Susque, yiref...
88
4,600 155% May 2 177k Jan 19 ' i 30k Jau 177% Sep
159%
168 % 158% 15834 160
1 5 8 k 1 5 9 k ( Canadian P acific............
2 0 J 65 % J ’ne30 70% Jan 8 | 67
*65% 69 h Canada Southern............
No> 74 *4 Aug
68%
68k
*6 o k 68 % 6 8
70u 204 May 2 239 % May24 '190 May 235 Oct
224
223% 223% Central of N ew J e rs e y ...
222
222
222 %
*217 224
220
5,660 53 % Apr 28 6 i k J an
55%
55% 56% Chesapeake <fc Ohio..........
55% 55%
45 % Mav 60 % Mar
54% 54%
55
56
25 May 5 38 k ian 15 30 Dec 4.4 Mar
Chicago &. Alton
74 M ay 3 80% Jan 12 75 Oct 83k A pr
Do pref
1,500 16 J ’n e it 23% Jan 20 17% Mav 25 % Mar
16% 17
17 % 17% Chicago Great W estern..
*16% 17
16k 16k
16 78 17
*16k 17
1 0 0 80 J ’n elJ 8 6 % Jan 17
8 3 k Mav 89 Sep
80% 80% *80 %s 81
Do 4 p. c. debentures
*79 ha 81
*79% 80% *79% 80% *79% 80%
*70
74
72% J ’Jy 13 80 Jan 31 60 J’ne 78% Sep
*70
*70
74
75
74
*70% 74
*70
Do 5 p. c. pref. “ A ” ..
*70% 74
]
,
8
ut
25%
25%
25%
J
’ly
20
39% Jan 22 29 May 37% A pr
25% 25%
*25 k 26
Do 4 p. c. pref. “ B ” ..
25% 25k *25% 26
2 5 14 25k
175% 177k Chicago M ilw. & St. PauL 128,101; 155 % May 2 193 Jan 22 ■168% Mav >1«7% A pr
173% 174
175%176% 174k 176% 174% 176
113% 176
3i>U 177% May 2 196 Jan 22’ 182% Jan 192% A pr
186 186
*183 185
184 185 2186 186 *184% 186 *185 186
Do pref........................
2,200:192 Apr 27 240 Jan 15: al90% J’ne 249 Jan
195% 196% Chicago <fe N orth W estern
195 196% 193% 196 % 195 196
*193% 196
196ha 197
------ 230 May 2 2 270 Mar30 234 Jan 265 % Feb
*220
230 * 2 2 0 230 *215 230 *215 230 * 2 2 0 230 *215 230
Do p ref.......................
168 J ’n-e.H 198 J an 1 5 150 Jan 225 Jan
*168 470 * I ftW 1 70 *168 170 *168 170 *168 170 *168 1 ? 0
176 j ,n e 2 fc 202 Jan 15 195 Jan 230 Jan
*176 185
*175 >85 *176 185 *176 185 *176 185 *176 185
Do pref........................
300
12
14 Chicago Term ’ 1 Transfer.
9 k Apr 19 18k dan 19,
*12
14
*12
14
14 *4 * 1 2
14k * 1 2
7 k Jan 20 J ’ne
14k * 1 2
*
lOu 27 A pr 27 42k Jan 22 17% Jan 42% J i y
32 *......... 32
28% 28%
*26
32 +
32 *......... 29
Do x)rel
1,700
4%
4% Chicago U nion T raction.
3% May 21 1 3 k Fen20|
4 % 4%
4
4
4
4
4
6
J’ in 13% Feh
4
4k
4
70 0 1 1 % J ’ iy 12 47% M an 2 30k J ’ly 54 Feb
12% 13%,
12%
12% 12%
* 1 1 % 13
Do p ref.......................
1 2 % *12
*1 1 ha 1 2 he * l l k
2 ,1 0 0 9 0 k May 2 109% Jan 15
91
91
91
91% 92
90 Jan 1 1 1 Mar
91
92k 92k Cleve. Cln. Chic. & St. L.
90 ha 92% *92% 93%
2 0 0 110 J 'ly 19 118 Jan 23 115 k J ’ly 1 2 1 k Mar
11 1
111
110
1 J0
*10834 115 * 108k 113 *108k 1 1 2
* 1 0 8 k 112
Do pref.......................
9,400 29% Jan 4 37 Jan 24 22 k Jan 30% A pr
31% 321-4
32% 33 k
33
33%
33 Ha 34% Colorado & S o u th e rn ___
33% 33%
32 ^ 33
60U 6 6 % A pr 30 73% Feb 20 52 May 69% Dec
68
68 k
* 6 6 Ha 63
68
*67% 68
68
Do 1st x>referred___
67k 67 k *67% 68
2,700 43 May 2 56k Jan 12| 32% May 55 Dec
47% 48%
48
*47
48
47
48
4 8 k *47
47 14
47 ha 47 k
Do 2d preferred.......
5,200 189 May 2 231 J ’nel2 178% Mav 240k Oct
206 205
207 208% 209 213
r^ ela w a re& H udson ...
20678 208% 208 209 *207 2 1 0
1 ,1 0 0 437k May 2 560 May24 335 Jan 498% Oct
495 530 J-^elaw. Lack. <fe W est’n.
496 500
490 490
495 495*
490 490
495 495
3,5o0 36% May 2 51% Jan 26, 27k May 39k Dec
3 9 k 41% D enver <fe R io Grande___
*39% 40
3 9 k 39%
3 8 k 38 ha 3 9 14 39 k *39% 40
60u 83% J ’ly 3 91 % Jan 22 83 k May 9 1 k Ueo
*82
*82
84
*82% 85
*82% 85
84% 84k
Do p ref........................
84 ha *82% 8 o
640 £90% J ’ly 16 102 Feb 9' 76 % Jan 96% Dee
91
91 Detroit tJ m ted................... \
*91% 93 hi £90% 90k
90% 90%
91
91% ♦89k 91%
300 16 J ’ly 13 22% Jan 11 I l k May 22k Nov
*16
17
*16
17k Duluth So. Shore <fe A tl..
16% J 7
17i-4
16% 16% *16
17k *16
300 32 Apr 28 45 Jan 11 21 May 46k Nov
*33
34% 35
33% 33%
*33
38
*33
38
*33
38
38
Do p ref.......................
39% 40 k
39k 41
38k 33%
4 0 k 40%
39% 40
38 7e 40%
[ T r i e ../.............................. 50,400 38% May 2 50% Jan 16 37% Mav 52k A ug
76
76% 77
7 6 % 77 k All Do 1st p re f................. 20/JOo 75 May 2 83 Jan 15 74% Maj 85% Aug
75% 77
76% 76%
77
76
76 k
5,05u 62% A pr 27 76% Jan 16 55 % Jan 78% A ug
6 8 % 69
68% 68%
67% 6 8 %
67% 6 8 %
65k 65 k
6 6 h2 6 8
Do 2d p re f.................
. . . . . . 75 Jan 8 76 Jan 2 63 J ’ly 75 Aug
*68
*65
70 Evansv. <fe Terre H au te..
*65
70
*65
70
72
*65
70
72
*68
1 0 0 80 J ’ly 13 $90 May3i
*80
*80
90
90
*80
90
*80
*85
90
90
85 Nov 96 Aug
85
85
Do pret........................
286 288
288 289% 289% 291 Great N orthern, pret....... 1 2 ,0 0 0 275 May 2 348 Feb 9 236 Jan 335 A pr
287 hi 293A 291 293% x231 289
86
Mayl^ 92 % Jan 22 83 Feb 90 Jan
3 16 J ’ly 1 2 23 % Jan 19 17 Mav 24% J ’ne
16% 16%
L6 k 16 k
900 33 % Jan 19 51 Mayll| 15 A pi 38% D ec
*45
*46
48
47
47
46
47
4 7 k 43 ' O ' avana E le ctric............
46
*45
46
*
*■
77% Jan 15 97% May 8 ' 50 J'nt 82 Dec
90 ♦......... 90 * ........ VO JLADo pref
92% *
90 *......... 90
*
. . . . . . 113 % Feb t 135 A pr24 8 6 % Jan 1 2 1 % Dec
134 ~
134 *120 134 * 1 2 0 134 *120 133% *120 133% H ocking V a lle y ...............
2 oo 93 May 2 99% j'Lie 1 90 Jan
9 7 k N ov
95
95
*94 38 95 hi *94*38 95% *94% 95% *94% 96
95
95
Do p r e f . . / . .................
1,957 164 May 2 I 8 4 % j ’ne 71 L52k Jan 183 Sep
*176 176
177 % 178
175 176% *175 177% 175 175% >77 177
¥lLnois~ Central...............
7,010 33% J ’ne27 55% MaylO
35% 36k Antarhnro.M etropolitan
36
35k 35 k
35% 35%
35% 36%
2,300 70% J ’ly 3 87% May 10
74 ' 74
74
75%
74k 75k
Do pref
73 k 74
13% 74
7 3 k 73k
800 24 J ’ly 12 34-k d an 1 2 | 24 May 32 Feb
25%
26
26 Iow a Central....................
2 4 k 24k
26
25k *25
2 5 k 26
24% 24k
1 ,2 0 0 48
J ’ly 17 6 3 k Jan 13' 50 Maj 61 D ec
*46
50
51%
50
48
49%
60
49%j 49%
6 1 k 51k
*46
Do pref........................
1 0 0 51
Mar 7 76 J’ ne 8 j 29% May 58k F)eo
*62
72 T Z anawlia <fe M ich igan ..
*65
72
*65
72% *65
73
71
71
*69
73
£80 J’n el5 84 % Feb 7 1 81% J’ ne 87 Oct
*79 ha 81
*79% SOk *79% 80% *79% 8 uk l Y n Ft. « A-M tr <?.t*a r»f<1
*79h2 80 k
1,700 22% J ’ly 3 37% Jan 5 22% Mav 36 k Deo
23 hi 23 h. *23 ha 24ha *23k 26
23% 24
*23% 24k
23 k 23% Kansas City S ou th ern ...
2,500 49 J ’ly 12. 71 Jan 5i 52 Jan 70 Feb
49% 50%
50
50% *49% 52
4 9 k 49k *49 hi 50 k
5 0 k 50%
Do p ie f........................
1 0 0 27% J ’ly 3 44% Jan 12
*28
*29
31
31
32
29% 29% *29
*28
31
32
28k J’ ut 47% D ec
*28
T ake E rie <& W e ste rn ...
$84 May 15 $92 % Jan 25 91 J’ne 106 Mar
*80
*80
86
*80
88
*80
86
*80
88
88
*80
Do pref. .
88
*63
67 J ’ne26 81% dan 16; 50% May 73% N ov
*63
70
70
*63
68
*63
68
*63
68
Lnng Tsla.nff.
*63
70
14:0% 140 % 140 h* 141k 1 4 1 k 142% 141% 142 k 142 143% £140 141 L ouisville & N ashville... 1 2 ,6 0 0 136 k May 2 156% Jan 19i £134% Jan 157% Sep
410 147% J ’ly 14 162 Jan 26! 161 May 175 Feb
147^8 147^ 148 148 *147 148 $147 147 *147 148 *147 148
JV/f anhattan E leva ted ...
65 FeD 28 s i 5% May 111
91 Mar
lo 3 J ’ly 12 127 J fl.n 1 ft!
*102*4 i n i * 1 0 2 'k 107% *102k 107% *102*4
]33 Aug
*103 % 107 % *103% io7 %
1 ,8 )0 18% May 2 2ft% J an 19
20% 20%
* i9 k 20
18 k Mav 26 Mar
19% 20 k M exican Central...............
19k 19k
19k 19k
19k 2 0 k
*176 180
860 14:0 Mar 19 200 J ’ly 17: $ 130 J ’nr 155 Aug
*198 2 0 0
200
200
*175 200 *180 2 u 0 M ichigan Central..............
179 195
1,30<, 64 J ’ly 0 8 4 k Jan 11 56% Jan 84k Oct
64 hi 6 6
64% 65
65% 65%
65
65 M inneapolis <fe St. Louis.
65
65
65 hi 65%
2 0 0 90
*90
Apr 27 LOOkdan 3\ 8 6 Jan 106 Oct
95
92% *90
95
*90
95
*90
95
Do p ref........................
92 hi 92% *90
1 ,0 0 0 l4 l% J a n 4 164
150 150 *151 165 *151 155
M ax 2 4 89% Jan 145 Deo
152 152 *150 155
152 154 Minn. S fP . <fe S. S. Marie.
*
*
163 % A p r3o L8334 Jan 11 148 Jan 173 Deo
170 +
170 *.........170
*168 170%
170 *.........172
Do pref
31 % 31k
7,000 29 May 2 40% Jan l ‘J 24 Ma) 39% N ov
31% 31%
31% 32
32
32
31% 32%
31% 33 Mo. Kansas <fe T ex a s.......
*65
1,400 6 4 k Apr 27 74% Jan 18 5 6 k May 73 Aug
*65
67
66%
*65
67
66
67
6 6 k 66%
6 ok 66k
Do p ref........................
89
89%
90
90%
90% 91
90% 9 L% M issouri P acific............... 11.400 85 % May 2 106% Jan 20 94% May 110% Alar
90% 90k
8 8 k 90%
183 May 3 149% Jan 12 137 Jan 158 A pr
*138 142 *138 142 *138 142 *138 142 *138 142 *133 142
YT ask. Chatt. <fe St. Louis
39% 39%
1,400 8 6 A pr 27 41 M arl 4 33% May 45 Jan
39% 39%
40
40
39
39
*39% 40 IN at.of M ex, non-cum .pl
39
39
*19
1 0 0 18k J ’nelb 2 1 k Feb 24
*18% 2 0
*19% 20
*19
19%.
1 7 k J’nt 24% Jan
Do 2d p re f..................
2 0 ha * ! 8 ha 2 0
19 k 19 k
82 % j ’n e l 6 34 J ’ nel4
"IVew Orleans Ry fr. Lt,
81 J’n el5 81 % .T’ n el4
129 129 hi 129 131
131 1 3 1 ^ 3.30% 131
131 132% 132k 133 k N. Y . Central <fe H udson.. 13,100 127% J ’ly 2 15 6 j an 8 136k May 167k Mar
*62 hi 63
7,400 ^9 Mar 5 73 % A pr 17 42 Jau 7 6 k Deo
65% 67
66
#7
67
67% N. Y. Chic, <fe St. L o u is ...
63
66
67
67 %
*114 118 *114 1 2 0 *114 120 *114 1 2 0 *114 120 *114 120
111 A p r l4 120 % j all 27 114 J ’ly 122% Jan
Do 1 fit nref
*83
2 ,Too 80 May 3 9 1 k Jan 9 74 May 95 Deo
38
8 6 % £6 %
87
87
83
8 6 k 87
Do 2d p ref.................
86k
87k 87k
52 190 J ’ly i o 204% Jan 19 $191k Dec $216 Sep
§19‘3 193 $ I9 1 k 191k *190 193 *19-2 194 $193 193 $193 193 N. Y. N. H aven <fc H a rtf.
45 hi 46
5,200 43 k May 2 5 7 k Jan 2 . 40% Jan 64 Mar
46 % 47
46% 47% £45% 46% N. Y. Ontario <fe W estern.
47 >s 47 S
46 k 47%
86
6,800 81 F e b 2 & 93% Feb 1 76 Mav 8 8 % Mar
86
8 6 'e 87
8 6 % 87
8 6 % 86k
8 6 k ^7 %
87
87% N orfolk <fe W estern ..........
*90
92
*91
. . . . . . 89% A pr 12 96 Jail 6 91% Feb 96 Aug
*91
93
93
*90
93
*90
93
*91
Do adjustm ent pref.
93
199 £197 199% 199 200% N orthern P acific.............. 31,3u0 l79% M ay 2 232% Feb 14 165 Apr 216% A ug
200
2 0 1 k 198
197% 193k 197 2 0 1
*120
3,800 103 Jan 10 142 j ’ne 5 78 k J an 109 k Oot
125 *118 125
123 k 1 2 3 k 123 125 k 126 135
134% 134% O a cific Coast C o..............
*100
105 Jan 5 106 Jan 29 100 Jan 108 Feb
108 * 1 0 0 1 1 0 * 1 0 0 luS * 1 0 0 108 * 1 0 0 108 * 1 0 0 108
IT Do 1st p r e f...
*120
2 0 0 105% Jan 10 135 May 8 ; 85
125 *118 125 * 1 2 0 128 *118 125
Jan 109 Oct
128 129 *130 134
Do 2d p ref.................
±24 hi 125 % 124*8 126% 1 2 5 % 126k 124% 126
124% 126
12538127% Pennsylvania..................... 119,206 122% J ’ly 2 147 % Jan 2-8 131% May L48 Aug
w6i>
88
A p r28 46 % Jan l5| 27 Jan 48k Apr
*36
40
39
40
*36
40
"36
39
*35
*36
39 Pe.nria &
■< Eastern.
*75
75 May 2 87 Jan 241 70 May 187k Mar
80
*76
82
*70
82
*77
82
80
80
*77
82 Pitts b. Cin. Chic. <& St. L.
*101
loO May 4 108% Jan 24; 105 Feb 112 Mar
114 * 1 0 0 108 * 1 0 0 114 * 1 0 0 108 *100 114 * 1 0 0 108
D') x)re^-117 113
117% 120% 1 2 0 1 2 1 k 119 1 2 0 % 119% 1 2 1
120% 124
¥> e a d in g ........................... 376,800 112 May 2 £164 Jan 23 £79 Jan 143% N ov
*90
93
" 90
93
"91% 93
*90
93
89% Mar 1 96 Jan22| 90 Mav 97 Sep
*90
93
LAI st, xvref___
*92 ha 93
90
90
*90
2 0 0 90 A pr 30 1 0 2
95
*90
94
Jan 2 0 1 84 Jan 101 Nov
*90
95 *......... 95
*90
95
2 d * p re i.........................
23
231-4
23% 23%
7,7oO 22 % J ’ly 13 28% A pr 2 21k Dec 37% Jan
23
23%
23% 23%
2 3 k 23%
23% 24 Rock Island Com pany—
60
J
’ly
2
61
2,80u
61% 62
6 8 % M ar3i
61
62
60% N ot 85 Jan
60% 61k
61ha
6 0 k 61
Do p ref........................
61% 62k
*61k 72% * 6 l'k 72 ha * 6 1k 72 % * 6 l k 72
. . . . . . 60 F eo26 72% Apr 3 67 Dec SI k Mar
*6 l k 72
*G lk 71k St. L. <feS.Fr., 1st p r e f---*40
42
650 4:0% J ’l v l 7 5 1 k Feb 6 45 Dec 73% Mar
*41
46 % 40% 42
41k 4 Ik
Do 2d jir e f..
*41
43%
*20
21
2 0 0 20% May 2 27 Jan 19 20 May 27% Jan
21
2 1 % 21 % *21 % 22 k
21
*2(3% 2 2 % *2 0 % 22 St. Louis Southw estern..
*48k 52
1 ,2 0 0 4£>k May 2 61 % Jan 24
55 Nov 6 6 % A pr
51
50% 51k
*50% 52
50% 51
*50% 51%
Do p ref........................
5 ik
6438 65 *4
6 6 % 67%
May 2 72% Jan 2 2 i 57k May 72% Feb
6 6 % 69
6 6 k 67k
64k 67
8 8 % 70k Southern Pacific C o......... 226, 13q 61
$116k 116k 116k 116k * 116 % 117 i 117 117
1,649 116 J ’ly 2 120% J ’ne 6 , 115k Jan 122k Dec
117 117
Do pref.........................
117 k H 7 k
33
33% 31
8 o%
33% 34%
34
34k
33% 34
3 3 k 34% Southernv.tr. cfs. stmpeo I5,9o0 32% J’ly 12 42% Jan 26 28 May 38 Sep
*97 Ha 98
97% 98
1,900 97% J ’ly 16 103 Jan 16 95 Apr 102% Sep
98
98k
*97 k 98%
Do pref.
do
9 7 ha 98
97% 98
31
29 ha 30
3,000 28 May 2 39% Jan 24, 29k Apr 41 Max
31
30% 30%
30% 31% P exas <fe P a c ific ............
30% 30% *30% 31
*124 128 *124 128 *124 129 *124 125 *124 128 *125 130
125 A pr 27 rl39% Jan 17 120 Dec 141 Deo
T h ir d A ven u e (N. Y .)...
»a i7 8 33% *3178 33% *32
34
* 3 m 34
29 % A pr 23 36 Jan 22 22 k Jan 37 k A pr
*32% 33% *32% 34 Toledo Railw ays cfe L ighi
27
2 ,0 0 0 2 5 k J >iy 2 40 % Jan 19 34% May 43 k Apr
27
27
27
27%
2 6 k 26*4
27
27%
27% 27k ToL St. L. <fe W. v. tr. ctfs
27 k
44
4 l%
46
3,700 43 T’ly 13 59% Jan 19 51k Jan| 65 A p r
45 % 46 % 46
Do pref. vot. tr. ctfs.
44hi 45 k
45% 45k
45k 47
86

%. 8 G%

86

hi 87%

87
100
99k
135
136
116% 115%
93
93%
74
7 Ik
*80
88
160
159
*66
6 8 % *67%
*220 224 * 2 1 0
55% 56
55%
87%
99%
135
UOk
*92
73%
*80
159%

88

%

87%
99%
135
116%
93
73%

86%

87%
99% 99%
136 136
115% 117%
*92
93%
71k 73%
*80
88
159k 159%
*68
68%

BANKS AND TRUST COMPANIES—BROKERS’ QUOTATIONS
B id A sk
B id A sk
Banks
B id A sk
B id A sk
Banks
Banks
Banks
B id A sk
Banks
400
P a cific!]....... 240 250
C h em ical___ 4100
M etropolis TtF ifth .............. 340
Imp cfe Trad. 550 575
NEW YORK
Citizens’ Ctrl 138
M etropoli’ n^ 160 170
P ark.............. 460 480
1 n terboro
155 160
First
720
C i t y .............. |265
rr vi n <»•
Mt M orrisl;..
Feopie’ s!]___ 300
1st N ’t«feDx).y 510 535
A e tn a ............ 205 215
240 250
P h e n ix ........ 190 2 0 0
A m e rica *1) ... 515 530
Coal <fe Iron . 250
M utual^....... 300
14th Street^ 2 0 0
J offer so n^l__ 2 1 0
A m er E x cli.. 250 256
Nassau^ ___ 2 0 2 2 1 2
Plaza!].......... 570 600
Fourth .
Liberty ....... 50 J 520
ColonialTl --- 600
212
218
A s t o r ............ 650 750
y.inc.nln
Columbia .. 425
Prod ExchV - 170 180
1400 1600 N ew Am stei
Gallatin
375 400
Riverside!] .. 250 280
Battery P a ri
C om m erce... 1180 US0 % Garfield ..
N ew Yfirk Co 1 2 0 0
135
Manhattan®:. 290 310
600
N Y N at E x. 2 0 0
Seaboard ___ 365
Consolidated 160 170
tO5
B o w e r y l)___ 320 335
German Am i 150. 160
Market cfeFUi 265 x75
Germ an F t * 410
S e c o n d ........ 700
M e.e.hA.nies’
B u tch ’ s<fe D i 160
170
C’ rn E xch ge' 355 365
260 272 % N ew Y o r k ... 305 310
19th W ardV 350
560
S tate!).......... 2 0 0 0
Discounter... 15U
'C entury^__ 175 185
M ech <fe Tra* 150 165
Germania^] .. 500
34th S treet.. 205
>50
N orth Am er.
Chase Greenwich 1, 290 305
240
700
East R iver. 150 160
N orthern___ 150 160
12th W ard!,. 350
180
Fidelity^]___ 2 0 0
C hatham ___ 300 315
Merch Excli. 170
Hamilton^ .. 225
23d Ward!:;.. 190 ------ Oriental!!___ 260
:? o
175
M erchants’ .. 165
Chelsea Exc* 180 ........ Fifth A v e ll.. 3800 4200 H anover....... 490 510
* Bid and asked prices; no sales w ere made on this day. $ Less than 100 shares. X3Sx-rights. H State banks, a Ex-dividend and rights, b N ew stock,
t Sale at Stock E xchange or at auction this week,
s Trust Co. certificates.
ft Assessm ent paid, n Sold at private sale at this n ncc.
Rid

A sk

410
Ml
o

Banks

J u l y 2 1 1 9 0 6 .]

N e w Y o r k S to c k R e c o r d — Concluded— Page 2

S TOOKS— H1<r H KS '1 AJS’D LOWKBT BALL PRICKS
Saturday

July

14

Monday
July 16

‘1 uesaa u
J u ly 17
11278 113

Wednesday
J u ly 13

2'hursday
J u ly 19

112% 113

111

112% 112% Twin City Rapid Transit
Do p ret......................
142% 144% 1137ft 146 l.t 1 fn ion Paoiflc.................
u i % U 2\ 141% id 4 % 143% 144% 142 34 144
...................
9
2
%
9-%
94
93
94
93
*93% 95
v 1 Do p ref......................
*93
95
57
54 Hi 54 l4 *55
65 % 57
55 % 68 U nitRys I n v’t of San Fran
51 % 34%
56 % 57
6 8 ^ 08 Hi
68 % 68 %
68
68
6?
08
68% 63 % 68% 6 8 34
Do prof
United R yaof St Lou. prei
M 8 7ft 19%
19% 19% *18 7s 2 0
*18% 20
19% 19% W abash___
19
19
4 4 % 4 5 % *44% 45
*44% 45
*11 % 40
45 % 4534
Do prof.
*44% 45
*37
38
‘ 37
38
*37
38
*37
*36% 38
38
*37
38
W estern M a ry la n d —
*16% 17%
18
18
‘ 17
*16% 17
19
*17% 18
17% 177^ W heeling A Lake E r ls ...
*0 6
40
*36% 40
*36% 37
*36% 40
*36
*36 % 40
Do 1st p ref...............
40
*o->
24
23% 24
*22
24
*23% 25
25
24
“ 23
Do 2d p rof...............
25
•22% 24 V
23% 23% *23% 34% *23% 24% *22% 24 u *22% 24% W isconsin Central.........
4534 4534 *44
44% 44 8
44% 45
45
44% 45
44%
44
Do p ref....................
Industrial ifc itUseell
*240 255
*240 260
*240 260
*240 260
‘ 240 260
‘ 240 260
E xpress..........
A dams
16
L6 76
1 6 % 17%
* 1o % i ; v
16% 16%
16% 16%
16% 16%
llis-C halm ers..........
*40
48
*45
49
45
45
‘ 45
48
-40
47
*45
Do p re f....................
48
9 0 7ft 97%
93 *4 94%
95% 96%
957ft 98 Amalgam atedCopper.......
95% 96 “ft 9478 96%
Oy'
*20
*20% 2 1 % 2 1 % 2 1 b
*21% 23 Amer A g ricu lt Chemical22
*21% 2 l %
22
*92
94
*91% 94
*90
94
*90
94
94
*90
*90
Do p r e f....................
94
2 1 % 2 1 % *21% 22% *21% 23
*21 % 2 l 34 * 2 1 % 2 1 34
*21% 23 Amer B eet Sugar............
57°, •........ i>734 *......... 87% *......... 3734 *•
m 8734
87% f . mmmm
Do .p r e f......................
*33“ 34 % 54
35 % 35
35% *34% 34 34
*33 78 34%
31% 35% American Car & Foundry
* 0 8 % 93 H
< 99% 99% *98% 100
100 100
‘ 100 100% 100% 100%
Do pref...................
29
29
■-834 29
29
29% *29
29%
29 % 29% 29% Amorican Cotton O il..
29
*90
93% *90
93% *90
93 Hi *90
94
93 % *90
*90
93%
Do p ref........................
*220 230
*220 230
220 230
*220 230
‘ 220 230
*220 230 American E xpress............
8%
8 Ha *8
9
8 Hi
8%
*S
9
9
*S
*S
9 American Grass T w in e ..
0
0
*6
6%
*6
6%
*6%
6%
*6
*6 % 6 %
6% Amer H ide <fc Leather.
29
29
28% 30
29% 29% *28% 30
*28% 30% *28% 29%
De p r e f...................
5 734 6034
58 Ha 53*
UO % 6234
62
63%
63 % 61% Am erican Ice Securities.
63 % 64
*17
19
* 17
19
*17
19
* 17
20
*17
19
*18
20 American L inseed............
*o7
40
*37
40
*37
40
*37
40
40
40
*37
42%
Do pref...................
67% 69
05 Ha 08
68
69 % 67 34 70
69% 70%
69% 70% American ljo co m o tiv e ...
*112 115
’ 1 L2 114% *112 114
*112 115 *112 115
114 114
Do p ref....................
*3 Ha 4
*3%
4
"3% 4
*3%
*334 4
*334 4 Amer. Malt. ctfs. of d ep...
4
*20
27
*26
27
2 6 78 2 6 7g ‘ 26
27
*26% 27
*26% 27
Do pref. ctfs. of dep.
40
32 Ha 3 2 Ha *30
*30
40
*30
40
40
*30
*30
40 Am er Pneum atic Service
*05
80
*70
30
*70
SO
*70
80
*70
80
*70
80
Do p re f....................
*98
*98
99
- 98
99
*98
99
9378 Am er Smelters Sec pref B
98 7s 98 7ft *
14 2 Ha 1.4*3 si 1 4 la4 144% 143 144% 142 78 143% 143 14434 144% 146% Amer. Smelt’ g c& R efin’g.
*115% 110
L15 % i l 5 % 1 . 6 116 ‘ 115% L16
115% 115 7t 116 116
Do p ref....................
*190 210 * 190 210 * ;9 J 2 1 0
* 190 200
* 190 200
'190 200 Am erican Snuft.................
*100 110 * 1 0 0 liU
*100
no
-102 105
*100 105 *101 103
Do pref....................
*10
10 H
a 1 0 % 1 0 % * 1 0 % 1 1 % *10
10% *10
10%
1034 11 American Steol F oundr’s.
42% 429*
4 ‘2
42
42
42
42
*41
42
44
*41
44
Do pref........................
12 J 129
129 129% 129% 130
129 129% 129 129% 129% 131 Am erican Sugar Refining
*131 138 T15 L 138
133 133
*131 138 *132 138
134 135
Do p ref....................
*l3u 135
*1*28 130
130 130 *128 133
130% 130% Amer. Telepli. & T e le g ...
*98-4 99 Ha *98% 100
9934 OO3*
98% 99%
99 100 Amer. Tobac. (new ), pref.
33
33 s
33 34 33%
33% 3 3 7t; 32 78 33 *4
33% 33 H2 32% 34 American W oolen ........
1033s lOJ^s l b l Hi 10 L% 1 0 2 1 0 2
101 Ha 10 LHa 100 Ha 102 *101 Hi 102
Do p r e f....................
225 220 Ha 224 231% 231 23:J% 233 '3 7
233 Ha236 Ha 23534 248 Anaconda C opper..............
*12 J 130 * 1 2 0 i3 0
*120 130
120 180
*
120
*120 130
130
SJrooklyn U nion Gas___
13 Ha 13 Ha * 13
15
*13
15
*13% 15
* 13 *4 15
*13% 15
L>runsw. Dock<fc C .Im p’ t
*55
03
*55
63
* 55
63
*40
03
$40
55
*40
63 B u tten ck Co..................
•35
30
35
36 % 3 6 % 3 6 % *35
30
35 Hi 357^
35 % 36% /C entral Leather . . . . . .
lOJ. 101% *1U0 Lbo $103 103
101 101
I 0 IH2 1 0 1 Hi 1 0 U 1 0 6
v ) Do p r e f..................
40 % 47
46% 48
47% 48%
47
4 a3ft
483,,
47
48% 49% Colorado Fuel <fc I r o n ___
*77 Hi 90
*77 % 90
*77% 90
*77Ha 90
*77 Ha 90
Do p re f....................
177 Ha 90
18% la**
18
18%
17% 18
11\
18
173ft 17 3ft
18
l8% GoL <fc H ock. Coal & Iron.
l o » HJ 1 3 7 s lo 7 % 138% 139 139
13c>% 138% 138 138H, 138% 139 Consolidated Gas (N . Y .).
*18 Hi 19 Ha 19
20
$20
20
19
19
$19% 19%
19% l 9 ^ Corn Products R e fg ___
70
773ft 7 7 ^ *76
77
77% 73%
78
76
*76% 7 8
K76
Do pref....................
54*4 55^
55 Ha o o \
56
56 ^
56
56
56
56 % 50% 57% Distillers Securit’ s Corp.
* ........ 80 *........ 8 6
*
* ........ 8 6
......
86
86
Electric1Storage Battery.
........ 86
*i*45 105
*145 155 *145 155
145 150 * 145 150
145 1 5 O Federal M ining <fc Smelt
*91
92
*91% 93%
y 2 % 93
*91% 93% *91% 93%
93%. 9 8 %
Do pref....................
•16l 102
163 % 163 % $164% 164%. 102 105
163 1633 General E lectric...............
101 103
*17% 17 34
17% 17%
17% i7%
17 78 17 7e 18
1 8 % I nternational P aper___
17 Ha 18
*32 Hi 83
*82% 83
*82% 83%
84
83% 83
84
Do pref......................
*83-4 84
*48
00
*48
60
*48
60
*48
60
60
*48
*48
66 International P ow er.......
*40
44
41
44
37
4L
*35
40
*38
42
40
42 Internat Steam P u m p___
*Sl% 83
81% 82
8 1 34 8 2
82
81 Ha *81 % 83
8
L
H
2
Do pref....................
82
5 8 14 5836 5 8 :% 59
59
59
59%
59 % 5 9*8
59%
59*4
60 K nickerbocker Ice ( Chic)
04
04
65
66
*64
65 >4
05 Ha 05 % *6434 60
05% GO \[ ational B iscu it............
*110 Ha1 1 8
‘ 117 117% li7 % 1 1 6
117% 11734 *110 H
a118 *117 1 1 8
h o pref.......................
16
10
16
16
16 % 16 %
178s 17 Ha 16% 10 % *10
i7% Nat E nam eling^S tam p’ g
*84
89
*83
89
*84
89
*83 Ha 89
-83% g9
*83 Ha 89
Do p r e f......................
‘ 72
72 %
72
7 3 76
73% 73%
7 234 7314
72 Ha 73%
73% 74% National Lead.................
* lu u % IOI.34 * 1 0 0 % 1 0 1 % lO i 1 0 i
10034 10134 101 1 0 1 34 1 0 1 % 1 Q1 %
Do p ref....................
135 135 -fc 135% 133%, 135% 13678 133 137
136Ha 136 ^ 13678 136 New Y ork A ir B rake.......
91 Hj 91 Ha 92
92%
93
93
92% 9 f
*92% 94
*92 *4 94
North A m erican Co., new
*31
32
32
33
32 % 33 34
34% 3o %
33*4 3 4 14
33% 33
acuic M ail....................
*68% 39 Ha 89
89%
8 J 7ft 89% 90 F eop. Gas-L.& C. (Chic.)
89
89 % 80% 8 9;
89
*12
14
Tl3 % i4%
14% 14^4
14 H
a 14% *13
14 Hi * L3
l£% Pittsburgh Coal Co..........
*48
50
*49
56
*49
56
*49
*49
*49
50
56
Do p re f......................
56
4434 45
44
45 % 45% 45%
45% 4 6 % Pressed Steel Oar..............
44Ha 45 Ha 45% 4534
*95
90
*95
96% *95% 97
97
97%
Do pref........................
*95 s 97
*95 Ha 97
*217 220
220
2*0
*220 227
222 222
221 225 *22 L 224 Pullman Company............
*47
49
47% 48%
49 % 4 9 34
49
49
49 % L> allway Steel S p rin g.. *
49
49
49%
*9 i l4 99 Ha $98 Hi 98% *97% 93% *98
99 Ha *98
9 9 Ha 99% 99% LL Do pref.......................
25%
24 Ha 24 Hi 25
25% 26
2478 247& 24% 2 6 % Republic Iron & s t e e l . . .
$2534 2534
*92
93 S 92% 93%
94
95
95
94
95
94
Do p ref........................
94
96
09 >4 69*4
7 0 78 70 78
70% 7 L
70
71% 72 Dloss-Sheffield St. & Iron
70
70
71
H
a
*105 112 *105 112 *105 112
105 112
105 112 *105 112 O Do p ref........................
*141 143
141%141% 141 % 144
147% 1 5 0 % Penn. Coal, Iron & K B ...
145 147
* /5
78
*7 5
79% *75
79% *75
*75
80
*75
79
77 Texas Pacific Land Trust
*7
9
"6 %
8 %
•*6
9
*7
*7
*7
9
| [m on Bag & Paper.......
8%
9
*67
72 Ha * 6 6
72
*67
72% *68
72
72% *69
72
72
C Do pref........................
4c % 46 % 46
46%
4 6 % 46%
46% 46%
45% 45 7ft 4534 46% U. S. Oast L Pipe <& Foun.
91% 91%
‘ c o ^ 92
91% 92
91% 9 i 76 92
92
Do p ref........................
91% 91%
•118 1*21 *118 1 2 2 $ 1 2 0 1 2 1 % 118 121 Ha '118 122
121 121
United States E x p re ss...
•78
79
78
78 4s '7 7
80
75% 77
Lmprove’ nt
75 Ha 75 Ha *75% 70% U S Realty
*33 Ha 34 Ha 35% 35% *35
36% *34 Ha 30
36
36 U S Redaction & Re tin’g
*35
37%
*73
75 %, 74
75% * 7 4
76
77
77
75
Do pret......................
*74
75
75
3 9 14 393s
39% 4076
40% 41% United States R u bber___
41
41%
40 Ha 4 L'Ht 39 7q 40%
loo 108 107% 107% 106 10678 100
105 luO
Do 1st pref.................
105 Ha 100
106
*75Ha aO
*75% 78% $78
78
*77
80
*77
Do
2d p r e f ...............
*77
80
80
33% 33 % 33% 3434| 34% 35
34% 3 0 % United States Steel..........
3 3 78 34%
3334 3434
lOO l4 1003ft 1 0 0 % l u 2
1 U1 % 10 2 a4 10 L% 101% 101
Do pret........................
102% 101 % 102%
31 Hi 3 1 Hi
34% 34%; 35
^4 Ha 3o % Virginia-Carolina Chem ..
35 % 35
*33
35
35
♦105 % 107% 106% 106% *107 107% 107 10714 107 107% 10? 107
Do p ref.......................
0%
.
*39
40 Ha 40
40 I 40
40
*40
41% Virginia Tron Coal <fe C ..
41 Ha *40
41 Ha *40
lb 275 *27U 290 |$280 2 8 0
270 300
IX/ ells Fargo <fc C o.......
•270 300 j *27‘ > 300
'91
9l%
91% 91%; 91% 91% *91
9 l 34 92
e s fn Union T ele’ gph
91 Ha 91 Ha 31%
*150 153
*150 153 ' *150 153
153 153 West’ gli’ seE i& M fgassen
150 153
153 153
185 *.........165 ; *.........185
*
185
Do 1st pref.................
.........185
185
* 111

113

l i a a4 113

banks

and

112%

Friday
J uly 20

ST O C K S
N E W Y O R K STOCK
EXCHANGE

trust

139

Range /or Year 190 >i 1 'ange /or Jdevious
On basis of 100-share lot I
the
Y ea r(1905)
Week
Shares
Lowest
Highest
Lowest I Highest

S a le s 0 /

1,21b 108:,4 J ’ly 3 122 % Jan 22 l Oft
317! 5 00 138 % M ay
160 H Jan 24
91% May 2 99 7 Jan 2
2,601) 50 A pr 2
98 J an 18
900 55 A p r 20 93 H Jan 17
84 % Apr 1'• 87 H Jan 13
900 18% J’ ly 12 26%_ Jan 2-\
700 4 0 % Jan 3 0 ’ p Feb .. >
3 i Jan 3 44 % •1ue 4
300 16 Apr 28 21% Feb 6
101/ 36 May 2 48% Fob 6
.900 22 A pr 2 7 29% Feb 6
220 23 May - 33 J an I l ­
1,72b 44 J ’ly 2 64 Jan ls

J an 129% A pr
% M a) 160 J ’ ne
I 13 J an j 15134 Dec
95 % N ov 101% Keb
21 % Jan 92 % Deo
6 1 % Jan
94 % Deo
80 J ’ ly 85 Nov
17 Hi M uv 24 % Sep
37 ,V1un 4 8 Feb
27 N ov 30 Deo
15 M i\\ 1934 Mar
30 May 48 Feb
20 May 28% Mar
20 Api 33 % Aug
45 Jan 64 % Oct

$240 J ’nel4 *251 J ’ly 3 $236 Jan *260 Feb
16 J ’ly 3 273ft J an 24 13 M av 24% Deo
45 J ’ly i7 67 Jan 24 46% May 03 Feb
92% J ’ly 13 L18 % Feb 13 70 Jan Ml% Dec
20 J ’ly 3 34% J an 2
20 J an 29% Apr
93 A pr 23 102 Jan '•5 89% Feb 95 Aug
100 20% Mav 2 35 Jan 6 23 N ov 35 Dec
85 J an 22 89% 1;t n j- 77 Jan 80 Dec
8,71b 3234 J ’ly 13 47% Jan 24 31 Ma\ 43 % A pr
300 98 % J ’ly 13 105 J an j
u91 % Jaii 104 % Apr
1,400 28 May 2 44% Jan 11 27% J'ly 40% Dec
90% J ’ne2o 95 Jan 10 89% J’ ly 97 Feb
2i5 A pr 26 249 % Jan 26 2209 % Jan 246 Feb
400
434 Aug 14 Jan
7% May -- 11% J an 15
400
6 J’n el3 10 Jan 2!
6 J ’ lK 11% Dec
1,01b 27 J’ne2u 43 Jan 2
29% 1)ct 55 % Mar
29,060 35% Jan
65% May 10 2434 J ’ly 36 Dec
....... 17% May
29% Jan :
15% Jan 23 Dec
30u 38% May 4 53% Jan 2'
36 Jan 48% Apr
63,400 53^4 May 2 78 % J an 4 33 Jan 76% Dec
100 1 10% May
120% Jan 16 10334 Jan i 22% Apr
4 J ’ne.2
6 % A pr 6
Dec
5% Nov
25 Jan
29% Apr 5 24% Dec 26 Nov
200 32 J ’ly 12 64;% Apr 1
76 J ’ne20 8 «% A pr 12
100 98% J ’ly i3 1 0 1 % Jan 18 07% Sep ■02 Nov
87,150 138% May 1 L74 Jan 18 79% Jan 170% Dec
50b L14 J ’ ne28 130 Jan 12 111% Jan 137 Dec
200 J ’ly 6 120 Jan 25 163 May 250 Nov
L02% May 3 io7 Jan 2 6 99 Jan 110 Dec
60b 10 A pr 30 15% Jan 17
6 7g J ’ ly 1838 Mar
300 40 May 2 53% Jan 17 35% J ’ne 67 % Apr
11,020 127% May 2 157 Jan 8 130 May 154% Dec
300 132 % A pr 30 140 Jan 19 L33 May- 141 Aug
200 J30 J ’ly 18 144% Jan 13 13 i Dec U 8% Jan
2,000 96 J ’ly 3 109 J an 2 2 91% Jan 109% Dec
2,300 32 J’ne3u 48 Jan 6 20% Jan 47% Nov
545 101 J ’ly 13 11038 Jan 24 93 Jan 108% Mar
1.83,920 223 % May
300 F eb L LO0% May 295 Dec
119 A pr 27 178 Jan 3 L75 Dec c215 Feb
100 1 3 % J ’ly 9 2 1 34 A pr 14 1078 Jan 22% Dec
45 40 A pr 16 70 May 9 50 Dec 60 % Jan
2 ,8 0 0 34% J ’Jy 3 49% J an 24
40 Sep 47% Qot
1,02.5 100 J ’ly 3 107% Jan 24 102% Nov 105% Nov
49,300 40% May 2 83% Jan 26 33 May 59 Mar
85 J’ne29 112% Jan 29 80 Aug 105 Mai
1,400 17 May 2 26 *b Jan 31
1134 May 20 Dec
l»o?0 130% A pr 27 1.81% Jan 23 175 Nov 214 Mai
1,043 18% J ’Jy 13 28 A pr 4
1,326 74% May 2 85% A pr 2
4,520 51 Jan 30 65% May 9 v34 7g Jan 54% Dec
8134 Jan 3 87% Jan 19 76 May- 89% Feo
138 Jan 4 199 Jan 22 60 Jan L45 Nov
300 91 J ’ly 3 1 1 2 % Jan 22 75 Jan I 10% Nov
300 160% J ’ly 13 1 8 L % ja n 9 f 69 May L92 Mar
3,825 17 J ’ly 2 26 l4 Jan 15 18% J’ ne 25% Dec
4UU 82% M ar 10 90 Jan 13 76 % Feb 8 8 % Lee
48 J ’ne30 x95 Jan 29 48 Oct LOO Feb
i‘ob'6 28 Jan 15 60 May 8 26 Dec 40 78 Feb
9 3 May 14 78 % May 8 8 % Apr
1 ,1 0 0 79 Jan U
4,400 54% J ’ly 0 6 8 Jan 15 10 Jan 63 De/*.
___ 62 May 2 71 % Feb 6 52 Aug 69 % D ec
1,020
4 Feb lb L10 Aug L2 0 34 Mar
300 113 HaJan 5 1 1 8 L
18 Hi Jan 15
11 Aug 31 % A pr
1,200 12 May
85 M arl7 8 8 "2 31ar 8 80 Aug 94 Apr
7.106 66 May 2 95% Jan 19 24% Jan 39 % Dec
300 100% J’ ne 7 1 0 6 % Jan 2 _ 97% Jan L15 % Dec
2,4 lu 133 J ’ly l" 163% Jan 5 UO May 1 6 8 34 Nov
1,860 91% J ’ly 14 107 Jan 12 95% Nov 107 Apr
7.000 2834 j ’,ne-9 51 % ,j an. 19 33 Alay 53;,4 D e0
2.000 88 J ’ly i3 103 Jan 2 97% May 115 % Apr
600 13 b May 2 17% Mar31 12% J’ ly 21 May
50 J ’ly 3 62 % Jan 19 45 % J ’ly 80 % May
6,35b 43 May 2 64% Jan 24 33 % Jan 58% Dec
Feb 1 87 Feb LU1 % Oct
_
___
400 95 M ay 2 105
200 218 j ’ly 9 24734 j a U 1 230 May 258 Aug
1,700 44 May 2 62% Jan 15 30 May 63 % Dec
225 9734 J ’ly 13 107 Jan 2 , 93 Jan i o 6 Nov
39 Jan 12 15 Jan 36 % Dec
2,850 22% May
2,100 91 May 2 110% Jan 9 67 Jan 108 Dec
1.9UU 68 % J ’ly 13 97 % Jan 12 60 Jan 118% Feb
106 J ’ly 6 113 A pr 3 LOO Jan 130 Feb
4.2t35 129 Jan 2 f 165 Jan 12 68 J-au L18 Dec
86% ,j'ne 9 37 % Jan 66 Dec
60 May
15 % J an 19
7% J ’ly
8% J'nc 15 % Oct
84 Jan 18 68 fan 82 % Dec
100 67 Hi j ’ly
53 Jan 17 19 78 j an 43 % Dec
3,800 43 % May
1,300 90 J ’ly _ 9 6 78 Jan £4 79% Jan 9734 Apr
210 109 May 1 138% Jan 26 a 10 Dec 134 Fob
1,400 75% J ’ly 18 94 % Jan 2b 77 Jan 98 % Mai
600 24 Mar 1 4 0 % J ’ ne 5 18 Feb 40 % Apr
1,100 60 Mar22 84 J'no 6 35 Jan 7 3 % Aug
Jan 2V 3334 JaL ■■>8 % Sep
5,750 38 J ’ly 18 58%______
1,500 zLOi-% J ’ly 13 #116 Jan 15 93% Jan MS % Apr
25 75 May 2^87 hi Jan 15 75 Nov S3 j4 Deo
22,8u0 32% J’ ly 13 46 bj Jan 20 24% May 43 % Dec
06,363 9834 j ’]y 3 1 13 % Jan 20 9034 May lu7 Dec
1,100 31 J ’ly 3 58 Jan 2 2834 Sep 58% Dec
200 104 J ’ly 3 1 17% Jan 2 103% May L18 % Deo
200 38 May 2 56 % Jan 24 36 J’ne 52% Feb
110 233 M ar23 286 J’n el2 $226 % Dec 260 Feb
500 z91 Mar20 94 % J an 36 92 Jan 95 % J ’ ne
300 L50% J ’ly 6 176 Jan JX 152 May L34 Apr
180 J ’ n e 2 6 188 Jan 2 ' 1*7 % Dec j9 7 A p r

1,90b
100
394,910
70b

c o m p a n i e s —b r o k e r s ’ q u o t a t io n s

B id A sk 1; T ru st C os. B id AsJcY T ru st C o’ s Bid A sk | T r u s t C o ’ s Bid A 8k j T ru st C o ’s J Biol
Bid A8k\
B anks
BROOKLYN
Fifth A vo T r
N Y Lifc<fcTr 1000 HO20
210 212%'
565
BROOKLYN
109 114
vF u lton .......... 3*25
i N ew York Tr 715 730 |Brooklyn Tr|400
N. Y. CITY
125 130
L Guaranty Tr 5*20
StandardTr’ t 410 440 |Citizens'.......<170
Fiat b usli . . . . 26 0
Guardian Tr 225 230
225
First............. 390 ....... ' Bankers’ Tr. 500 525
T itloG u & Tr 590 610
600
H om e Bank^! i 60 .......fjl BowFgGreen 5460 175
K n lck ’rb ’ k ’ r 1200
Tr 'Co of Am . 750 760 |F ra n k im ___|325
400 - ••••.- .ManufactrsL 390 ........ 1} Broad wayTr. 100 165
Law T 1 <fcTr 290 3*00
Union Trust 1390 1410 H am ilton.... 350
. . . . . . |H om e______ |185
Mechanics* . •490 300 ||Central 'JLT’st 2050 4150 Lincoln T r ... 625
U S A ltg& T r 450
U nit States . 1325 J375 [J e n k in s.......1190
, N assau........ 260 27 5 'C o lo n ia l....... 385 40U 6 Manhattan . . 475 495
BROOKLYN
275
Mcroan tile ..
Van N ’deuTr ....... •>25 ! Rings C o ----- 4 51)
INat C ity....... 300 ........ Co
850
; North BideV. 4U0 ........ |j Common wTh
95
Metropolitan
W ashington. 400 . . . . . . |[j i si LtfcTr.J 290
590
Borough*!.... 150
Morton Trust
W indsor....... 245 200 j N assau........
, ProspectPkT 150 165 | E in ju re........ -410 415
83 0
i P eop le's.......1340
Broadway* .. iOO
4G5 ___ .Mutual ..
T erm in a l___ 150 ........ j Equitable T r
132%
W lluamsb’ g.l 225
Brooklyn’ . 145 155 j|U nionli........ 225 235 ||Farm Lo & Tt ...... 1 125 ;} M at.Alliance 210
Bid and asked prices; no sales on this day' <t Less than 100 shares, t Ex-rights. 5 N ew stock,
c Ex-dividend and rights,
Sale at Stock Exchange or at auction r . s week 0 Ex stock dividend, s Trust (Jo. oertiticates. 1j Banks marked with a paragraph (1j) are ltat

R an k s
Union Exch^
U nited.......
U S Exclia’e!
W ash.H ’hts‘
W esi Side‘. ..
Yorkville*

Ask.
415
180
.....
335
193
.......
310
IOO
|235

N e w Y o r k S tock E x ch a n g e— Bond Record, F rid a y , W e e k ly and Y e a r ly
OCCUPYING
BONDS
N. T . STOCK E X C H A N G E
W k k k X arD ixG J u l y 2 0

St
■Sift.

Price
fYiday
July JO

Week's
Range or
Last Sale

FOUR

Range
Since
5 -c January 1

PAGE'
BONDS

N. Y. STOCK E X CH AN G E
W e e k E n d i n g J u l y 20

31

trice
tYidav
July 20

Week?*
Range or
Last Sale

O
S
%
»■»»I

Range
Since
January 1

Rid
Ask Low
High lVo Low High,
Low High
103*8104 *2 Cen RR & B of Ga col g 58 1937 VI N 1063.*........ 108a4 Ang’05
103 104 6? Cent of N J gen’ 1 gold 5s. 1987 J-J 1253% 126 126 J’l y ’06 ; ; ; ; 126 132
124=4........ 125 *2 J’ ne ’0 6 __ 125*2131*2
10234 103 7e
R egistered................. A1987
108 112 112*4 May’06
11^113
Am Dock So Imp gu 5a.. 1921
10238 104=4
Le So Hud R gen gu g 5s 1920 J - J 10 4 *2 ........
.
.
.
.
1
102
Mar’06
102 *4 ........
102
1 0 2 *2
Leli So W ilks X Coal 5 s ..1912 M -N
103 10334
103 10334
Con ext guar 4*28 ___ pl910 Q-M 1 0 U34 1 0 2 1 0 0 *2 J ’ly '06 . . . . 1O0 102 *a
103 10334
10234 104 7e
N Y So Long Br gen g 4s 1941 M-S
128 *2 129 \
129 129 7b Cent Pacific See So Pacific Co
129*2 130*2
129*2 132*4 Chas So Sav See Atl Coast Line
1093* ........
10834 111
103 106*4
Ches So Ohio g 6s ser A . .711908 A -0 1037tj........ 104 J’ ne’ 06
Gold 6s............................ «1911 A -0 10 <*4 ........ 107 Mat’06 . - •. j 107 110*2
F oreign Governm ent
117*4
Sale
16!
117*4
118
116*4119*2
1st consol g 5a...............1939 M-N
Japanese Govt 6s 8terl’ g.l911 A-0 * 99 *v Sale
99*2
99 7t- 133 9638 101=8
Registered.................... 1939 M-N 115 ........ 116 J’ ne’ 06
114*4 116
41
107*2
107
7
p
154
107*2
108*s
105 109
98*2
99
97*4 101*4
2d series 6s...................... 1911 A-O i 9834 Sale
General gold 4*28 ............ 1992 M- 8
___
104
May’
06
104
105
94*8
94 3* 87 90*2 95*8
£ loan 4 ^ s ctis full pd.1925 F-A X 94*8 Sale
Registered.................... 1992 M-S
112 112
90 70
91*4 12 1 89 62 93=8
2d series 4 *2 S ctfs full paid. J-J * 91 *8 Sale
Craig Valley 1st g 5s___1940 J-J id’s ........ 112 F eb ’06
91 82
88
8 2 14
83
£ loan 4s ctfs full paid. .1931 J -J X 83 Sale
R So A Div 1st con g 4a.. 1989 J-J *1UU34 x oi ioo 58 ioo 34 - 10058 102*2
94 ‘2 ........ 96 *4 May’06 —
96^4 9634
Repub of Cuba 5s exten debt.. M-S X105 *2 Sale 105*2 105 7b 45 103 *4 108
2d consol g 4 s ............... 1989 J-J
98=4
98:i4 2 98=4 101 *2
U 8 of Mexico s f g 5s of 1899 Q-J * 99 101
Warm Spr Val 1st g 5 s..1941 M-S 106*4........ 113*4 Feb*05
99y4
F
eb
’
06
9934 9934
923
q
96
94*8........ 94*2
94 6
Gold 4s of 1904................1954 J-D
Greenbrier Ry ls t g u g 4s ’40 M-N . . . . . . 1 0 0
8034
80=4
79
81
i 79
82*2
u hese are pr ices 0 n the 0 as is of $5 tp «£. Chic So Alt RR ref g 3 s ... 1949 A-O
S ta te S ecu rities
7634 78*4 77*2
77 *2 'A 77*2 82
Railway 1st lien 3*38 . . . 1950 J-J
.
.
.
.
.
.
.
.
80
*
8
May’05
J-J
Alabama class A 4 to 6___ 1000
1 0 0 78 10 1
101 Apr ’06
Registered.................... 1950 J-J
109*4 Oct ’06
Class B 5s......................... 190*. J-J
Chic Burl& Q—D envD 4s 1922 F-A 101*«101*4 1 0 2 102s* 10 9934 102 s8
91 *8 Sale
J-J
91*8
9134 VU 91
102*2 Mar’02
Class C 4s......................... 1900
95*4
Illinois Div 3*29..............1949 J-J
96 *8 F eb ’ 05
111 Mar’ 02
Currency funding 4s___1921 J-J
Registered.................... 1949 J-J
101
**
Sale
101
’
101*7
6
|
F-A
i l 6 ........ 117*2 J’ ne’Oi
101 I057a
Dist of Columbia 3*6os___ 1924
117*2 118
Gold 4s.......................... 1949 J-J
105 *2 D e c’04
Louisiana new consol 4 s.. 1914 J-J
Iowa Div sink fund 5s.. 1919 A-O 106 ........ 116*4 Jan ’05
1003
4
........
10078 J ’l y ’ Ov
North Carolina consol 4 s.1910 J-J *101*4 102 3e 1 0 2 34 Oct ’05
too 1 0 2 34
Sinkin gfund 4s............ 1919 A-O
103
o i 102 sa 107
122 ' J ’ne’ 06
12 2
122
6s....................................... 1919 A-0
Nebraska Extension 4s. 1927 M-N ........ 103 C 103
104
*4
May
’
06
120 Mar’ Ot
So Carolina 4*29 20-40....... 193b J-J
Registered.................... 1927 M-N
- - •i 104*4 104*4
99
95*4 J ’l y ’ 06
95*2 96
Tenn new settlement 3s..191b J-J
98
98
95*4 96*4
Southwestern Div 4s___1921 M-S ib o ........ 99
95 62 Dec ’04
Joint bonds See Great North
Sm all........................................ J-J
4
9
4
34
Mar’
U
G
103
J’ne’
06
94 34 9634
Debenture 5s...................1913 M-N 103 k 10414
102*2 107
Virginia fund debt 2-3 s... 1991 J-J
23
25
24*4
24 ha 25 20
108*4 112*4
29*2
Han So St Jos consol 6s.. 1911 M-S 109*2........ 110 J’ner06
6s deferred Brown Bros ctfs.
•
•
•
9478 9634
Chic So E 111 ref So imp g 4s 1955 J-J ........ 92S 95 58 J’ ne’06
R a ilro a d
1st s f cur 6s...................1907 J-D * 102 5q ........ 102*4 J ’ne’06 .... 102-4 U 43s
131
132
132
labama Cent See So Ry
1 132 139
1st consol g 6s................. 1934 A-O
A iaba
117
Midi See A t Coast Lint
4 116*2120
General consol 1st 5s___1937 M-N I l f Sale 117
118*2 Feb ’ 06 ---- Ill 18*2 118*2
Albany So Susq See Del So H u<
Registered.................... 1937 M-N
Allegheny Valley Nee Penn Ri
Chic So Ind O Ry 1st 5 s.1936 J-J i l 4 *2 Sale 114*2 114*2
C
1 114*211S78
Alleg So West See Buff R So i
Chicago So Erie See Erie
Q-J
129
90
90
130
130*4 151:130 137
80*2 90
17 90
99
Ann Arbor 1st g 4s........ A1995
Chic In So Louisv ref 6 s ... 1947 J-J
114*2 J’ ne’ 06
Atcli Tcfc S Fe—Gen g 4s. 1995 A-O 103 *4 Sale 1 0 2 5y 103*2 214 100 104*2
113 *2 1 i 4 *2
Refunding gold 5s.......... 1947 J-J 112*2
1013
4
........
A-O
107*2 J ’ne’Od ___J 107 108*8
101 s8 J’ly ’06
Registered....................... 1995
Louisv N A So Ch 1st 6 s.1910 J-J 105*4
99*2 105 ®b
106
J-D
108*8 Mar’OG ---- ; i 08*8 108*2
1003b Sale 100*4 100*2 153 100*4 10534 Chic Mil So St P term g 5s 1914 J-J
Conv g 4 s......................... l i “55
Warrants for 50-yr conv 4s.. . . - ........ 100*2 1003SJ ’l y ’ 06
105*2111
100*4 102*2
General g 4s series A ..el9 8 9 J-J 108 108 *2 108*2 J’l y ’ 06
109*2 J’ lie’04
94*4........ 94 38
Adjustment g 4s.........../t-1995 No\
9434 12 91
98*4
Registered...................el989
91*4 94
95 Sep ’05
93 Ss J’ne’ Ob :::: | 93
97
R egistered................ /Cl 9 95 N on
General g 3*29 series B.el989 n
93
92 38 ........ 92
19 91
Stamped...................... /il995 M-N
97
Cliic So L Su Div g os___1921 j - j 110*8........ 115*4 Oct ’ 05
113
1153
4
J’ne’
06
11534 118*4
Chic So Mo R iv Div 5 s ... 1926 j - j
99 s8 ........ 995e May’05
Debentures 4s Series E.1907 F-A
108 A p r’06
9834 A p r’06
Cliic So Pac Div 6s.......... 1910 j - j 105*2 .
9834 9834
107*2 108*2
Series F .........................1908 F-A
.
.
.
.
F
A
114 J’ne’06
97*2........ 100*2 Jan ’06
113^4 H o
10062 1 0 0 *2 ! Chic So P W 1st g os.......1921 j - j 111*2 ..
Senes G.........................1901
107 *2 110*2
96 *4 ........ 99 62 J a n ’ 05
Series H ........................1910 F-A
Dak So Gt So g 5s............ 1916 j - j 107*2 109 110 J’ne’06
12334
137*2 J’ lv ’ 99
Senes 1..........................1911 F-A 95 *4 ........ 98*2 N ov’ 04
Far So Sou assu g 6s....... 1924 j - j
113 J’ ne’ 06
93 ........ 97 Oct ’04
11138113
Series K ........................ 1913 F-A
Hast So D Div 1st 7s.......1910 j - j 108*4
106 Aug’ 04
99*2 F eb’06 —
1st 5s..............................1910 j - j 102*4
98*2 101*2
East Okla D iv 1st g 4 s.. 1928 M-S
182 *2 A p r ’06
I So D Exten 1st 7s......... 1908 j - j
182*2 182*2
A tl K nox So N See L So N
99 34 Sale
111*2 May’06 — 1111*2113*2
99*8
997s 45 9834 102*2
LaCrosse So D 1st 5s___1919 j - j 109 *4
Atlantic Coast 1st g 4S.M952 M-S
10658 A p r’05
Mineral Point Div 5s___1910 j - j 102*4
Charles So Sav 1st g 7s.. 1936 J-J 138*8___ _
105 1o834
Sav F So W 1st gold 6s.. 1934 A-0 129 *2 ........ 13278 Jan ’ 06
So Minn Div 1st 6s........ 1910 J-J 106*8 . . . . 105 “ J’ly ’06
13278 1327e
104
*8_
_
10634 F eb’ 06
10634 10634
Southwest D iv 1st 6s___1909 J-J
1st gold 5s.................... 1934 A-0 11434 ........ 11258 Jan ’04
11234 A p r’ 06
W is So Minn Div g 5s___ 1921 J-J 110*2
Ala Mid 1st gu gold 5s ..1928 M-N 1 1 1 * 8 ........ 1145s N ov’05
11 234 115*4
.
.
.
.
10834 Mar’ 06
106*2 ,
97*4........ 99 H Mar’06
10834 10S34
Mil & No 1st M L 6 s ....1910
Bruns So W 1st gu g 4 s ..1938 J-J
99*2 99*2
111
115 F eb ’ 06
917s Sale 91*2
956 ^
115 115
92 4 50 90
L So N coll g 4 s..............ol952 M-N
1st consol 6s................. 1913
953
4
........
122
122 58 1225s
1 122*2126
98 May’06 .... 98
Sil Sp Oca So G gu g 4s .. 1918 J-J
99*2 Chic So N orthw cons 7 s ___1915 Q -F
.
.
.
.
101*8........ 102*4. J’l y ’ 06
Atlantic So Danv See South Rj^
Extension 4s........ 1886-1926
<102*4 105*2
*100*2
2 L01 102
101
101
Austin So N W See Sou Pacific
Registered.......... 1886-1926
98 *8 9S34 98*4 J’l y ’ 06 •••• 97 100*2
93 76 Sale
93*2
94*4 40 93*2 97
ait So Ohio prior 1g 3*29-1925 J-J
General gold 3*23............ 1987
103 Nov’ 98
95 J’ne’ Ob
Registered............... h id -2d Q-J
R egistered................ p i 987
93
95
i
‘12
ii3 3 4 113 J’ ne’ 06
A-0
113 113
ib 2 34 103 10258 103*8 42 101 105*2
Gold 4 s ...........................711948
Sinking fund 6 s...1879-1929
Q-J
.
.
.
.
.
.
114*2 Feb ’06 __ 114*2114*2
R egistered................. 7tl948
Registered.......... 1879-1929
........ 102*4 102*8 1 0 2 *e 1 100*2 103*2
M-N
109
10934 J’l y ’06 .... 108*2 10934
8 8 * 2 ........ 91 J’ne’Ob
Sinking fund 5 s ...1879-1929
P Jun <fc M D iv 1st g 3^31925
90*8 92
......
107*2 J ’ne’06 ..... 107*2107*2
Registered.......... 1879-1929
P L E & W V a S y s r e f 4sl941 M-N ........ 97 34 9 7 34 J ?ly *06 . . . . 95=4 99*8
1
0
2
3
4
sale
90*4 907g 90^
'10234 1025*4
1 1 0 2 34 10473
Debenture 5s...................1909
9034 75 90
Southw Div 1st g 3 L2S...1925 J-J
93
104 Mar’ 04 ___
92*8 J’ ne’05
R egistered................. hl925 Q-J
Registered.................... 1909
106
F-A
106
s8
........
105*2112*4
105*2 J’ly ’ 06
108*2 J ’ly *05
Monon Riv 1st gu g 5 s..1919
Debenture 5s...................1921
105*2
108*4 J a n ’ 04
Registered..... ...............1921
Cen Ohio R 1st c g 4*29..1930 M-S 1 0 1 * 2 ........ 109 A p r’ 05
A-O
112
114
11634 117
11634 M ar 06
117*4........ 119*2 Mar’04
Pitts Clev So Tol 1st g 6s 1922
Sinking fund deb 5s.......1933
93 ........ 97 J ’l y ’ 06 . . . . 97 100
117 F eb ’ 06 .... 117 117
Pitts So W est 1st g 4 s ... 1917 J-J
Registered.................... 1933
Bat Greek So S See Mich Cent
Des Mo So Minn 1st 7 s ..1907
105*4 D e c’ 05
Beech Creek See N Y C So U
North Illinois 1st 5s___1910
101*8
104 D e c’05
Ott C F So St Paul 1st 5s 1909
Bellev So Car See Illinois Oem
101*8........
102*2 J’ ne’06
Bklyn & Montauk See Long 1
W inona So St Pet 2d 7s. .1907
1 0 2 *2 102 *2
123*4
123*2 J’ly ’ 06
Bruns So W est See A tl Coast L
Mil L S & W est 1st g 6s 1921
122*2 126*2
117 118*2 117 Ss May’06 ... 117*4118
E xt So Imp sfund g 5s 1929
Buffalo N Y So Erie See Erie
124
Ashland Div 1st g 6s.. 1925
Buffalo R <fe P gen g 5 s ... 1937 M-S 119 . . . . . . 119*2 119*2 20 116*2 119*2
142*2 F e b ’02
A-C
124
* 101*2 . . . .
128*2 F eb ’ 06
Mich Div 1st g 6s........ 1924 j - j
All So W est 1st g 4s g u ..l9 9 8
L28 *2 128*2
J-J
105 °8 Sep ’ 05
1 1 2 * 2 ........ 103 A pr’ 97
Convertible deb 5s___1907
Cl So Mali 1st gu g 5s___1943
102
F-A
109 ~ Sep ’ 03
123*2........ 124 A p r’ 06
In com es....................... 1911
Roch So Pitts 1st g 6 s... 1921
124 124
128*2 F eb ’ 06 . . . . 127 128 62 Chic Rock Isl So Pac 6 s ...1917 j - j 117 118*2 117*2 117*2
1 117*2 I203g
Consol 1st g 6s............ 1922 J-D
117
117*2 J ’l y ’06
Registered.................... 1917 j - j
Buffalo So Southwest See Eric
117*2 119*2
J-J
96*2 J’l y ’ 06 —
General gold 4s............... 1988 j - j 100*2 Sale 100*2 1-00*2 14 9934 103*4
Buff So Susq 1st ref g 4s.<21951
........ 90
96*8 996,
100
100
Registered.................... 1988 j - j
5 99 102
Bur C R So N See C R I So P
93\ sale
93%
937e 26 9234 97
Refunding g 4 s ..............1934 A
lanada South 1st 5s.......1908 J-J 1 0 0 * 2 1 0 1 100«8 lOO^b 4 100*2 103
C'2d
96
M-S
97 J’l y ’04
Coll trust SeriesH 4s ..1910 M-N
10434 105 58 105*4 J ’l y ’06
5 s ..................... . ........1913
105 10834
94
9734 D ec’ 05
10534 Jan ’06 . . . . 1053410534
J 4s............................... 1912
Registered....................1913 M-S
91*2........ 96 N ov’ 05
M 4s............................... 1915
Carb So Shawn See 111 Cent
9034 . . . .
93 May’ 04
N 4s............................... 1916 M-N
Carolina Cent See Seab Air L
90 ........ 89 *2 May’06
O 4s........ .
Carthage So Ad See K Y C & B
1917 M-N
89*2 89*2
89 *2 ........ 90 May’ 04
P 4 s ....................... .....1 9 1 8 M-N
Ced R la F So N See B C R & JS
J-D
76
77
Cen Branch U P 1 stg 4 s ... 1948
95 Mar’06
Chic R I So Pac R R 4 s..2002
.......: 94
7534
76*2 118 75*4 81*2
94
95
79 D e c’05
Registered....................2002 M
Cen Branch Ry See Mo Pac
F-A
9034 91
9034
91
15 88*4 93
Coll trust gold 5s........ 1913
Cent of Ga RR 1st g 5s..2>1945
120*4 123 119 May’ OC
119 121
.
102 *8May’ 06 ___ 100*4 102 *8
Bur Ced R So No 1st 5S.1906
Consol gold 5s................. 1945 M-N ........ 111*4 111*2 111*2
3 109 114*2
MN
..,
117*8........ 11734 j ’ly ’ 06
Con 1st So col tr g 5 s ... 1934
11734 119*4
Registered.................... 1945
113 113
........ 111*2 113 Apr ’06
96
98
Registered................. 1934
120*2 Mar’03
98
98
1st pref income g 5s___pl945 Oct
i 9334 99
109 ........ 111 N ov’ 05 —
O RIF & N W 1st gu 58.1921
89*2 91
91 J’ne’06
2d pref income g 5s___pl945 Oct
80 *i 93
.
87
88
M So St L 1st gu g 7 s ..1927
3d pref Income g 5s___pl945 Oct
68 J’l y ’ 06
75*2 91
105 106^
93 J ’ne’06
Chatt Div pur mon g 4 s.1951 J-I)
Choc Ok So G gen g 5s .01919
104*2........ 105 May’06
93
94*2
Consol gold 5s.......... ..1952
111 111
Mac So N or Div 1st g 5 s.1946 J-J i 08 * 4 ........ 115*2 D e c ’05
107*2........ 111 May’06
Mid Ga So A tl D iv 5s___1947 J-J 108*4........ 115 N ov’05
Keok So Des M 1st 5s___1923
106*2109 10S A p r*06 . . . . 108 l l l 3^
Mobile Div 1st g 5s.......1946 J-J 108*4........ 115^2 Aug’05
Chic St L So N O See 111 Cent

0 . S. U oT em in en i
U 8 2a consol registered.c£l930
U 3 2s consol coupon___<21930
U 3 3a registered............ &19D
U S 3s coupon...................&191S
U S 3s reg small bonds..fcl9D
U 3 38 oou small bonds.. &1918
U S 4s registered............A1907
U S 4s cou pon.................. hldOl
U S 4a registered............... 1920
U 8 4s ooupon.................... 1925
Philippine islands 48.1914-34

Q-J
Q-J
Q-F
Q-F
Q-F
Q-F
Q-J
Q-J
Q-F
Q-F
Q-F

Bid
Ask.
103=4 104*2
10334 104 *v
102*4 103
103 10334

A0
20
....
....
....

Low
High
104*4 104 8
103*2 J’ne’Of
10334 J’ ne’06
102^ J ’l y ’06
107 J’ ne’02
104 *2 Oct ’05
103*2 May’06
102=4 J ’ ly *0* __
129 May’06
12934 J ’ly MX __
111 May’06 —

B

MISCELLANEOUS BONDS—Continued on Next Page.
S treet R a ilw a y
Brooklyn Rap Tr g 5 s .....1 9 4 5 A-O ........ 105
105 *s J’ ne’ 06
105*8 109
1st refund conv g 4 s___2002 J-J
93 *8 Sale H234
933b 105 91*4100
BkCity 1st con 5 s.1916.1941 J-J 104*8 109 107 J’ne’06
106 107
Bk Q Co<fc S con g u g 5s. 1941 M-N 1 0 0 ........ 100 J ’ne’ 06
100 104
Bklyn U 11 El 1st g 4-5S.1950 F-A 1 0 8 34 Sale 10834 109
18 107*2 113*4
Stamped guar 4-5s___ 1950 F-A
110 F e b ’ 96
110
110
Kings Co El 1st g 4s___1949 F-A ........ 93*2 91 May’06
90
95
Stamped guar 4 s ........ 1949 F-A
92
93*2 92
93*2 19 89
9664
Nassau Elec gu g 4 s ___1951 J-J
85
86
88 J’ne’06
87*2 896,
Conn Ry<fc Llstcfe ref g4*29’ 51 J-J 101 ........ 102 Mar’06
102
102
Stamped guar 4*23.........1951 J-J * 1 0 0 ........ 102 *8 A p r’ 06
1003810264
Den Con Tr Co 1st g 5s. ..1933 A-O
95 J ’ne’OO
Den Tram Co con g 6 s ..1910 J-J
Det United 1st con g 4*29.1932 J-J
94*8 94*2 94*8
2 90 *2 96 *2
94*2
Havana Elec consol g 5s. 1952 F-A *........ 93
92 7s
931-4 15 927a 95 34
Inter-M et coll 4*29............ 1956 A -0
85 *8 Sale 85
853j. 277 8 0 34 90*4
Louis Ry Co 1st con g 5 s..1980 J-J
109 Mar’9 8
Manila Elec 1st So coll os. 1953 M-S ........ 96
98 May’06 . . . . 98 100*8
* N o price Friday; latest pricfc this w eek, a Due Jan d Due A p r e Due May

Street Railway
18 110
Met St Ry gen col tr g os. 1997 F-A 110 111 110*2 11 1
117
92
S3
Ref g 4s........................ ..2002 A-0
84
84^4 85 J ’l y ’06
110 US.3*
Bwaycfe 7tli A v l s t c g 5 s 1943 J-D 109 *2 ........ 110 J ’l y ’06
113 119*2
Col So 9tli A v 1st gu g 5 s.1993 M-S 113 118 113
113
Lex A v <fc P F 1st gu g 5s 1993 M-S 111 113*2 114 May’ 06
113*2 1 1 6*2
Third A ve R R con gu 4s 2000 J-J ......... 91*2 91*2
917& 20) 91*4 95*2
Third A ve Ry 1st g 5s.. 1937 J-J 115 *2 Sale 115 *2 115*2 5 11 5*2 119
Met W S El(Chie) 1st g 4 s .1938 F-A ........ 93*2 9 3 * 2 J ’l y ’ 06
93*2 93*2
109 109Mil El Ry So L 30-yr g 5s. 1926 F-A 109 ........ 109
109
107 hi F eb ’06
Minn St R y 1st con g 5 s..1919 J-J
107*2 loA a
893q
SSE 13 893* 92**
N Orl Ry So Lt gen 4 *28 ..1935 J-J
89*2 Sale
St Jo Ry Lt H<&P l s t g 5s. 1937 M-N
St Paul City Cab con g os. 1937 J-J
114 1 1 4 * 2 N o v ’ 0 5
95*2 983*
Underground of Lon 5 s...1908 J-D
957& 95 *g
95 *2
10634 J ’l y ’ 05
Union El (Chic) 1st g o s ..1945 A-0 *101
893*
7934
81 170 71
United R R s San F r s f 4 s .1927 A-0
7934 80
8534 90
S534 J’ly ’ 06
United Rys St L 1st g 4s. 1934 J-J
85 *2 89
99 Dec >97
W Chic St 40-yr con g 5 s.1936 M-N
^ D u e J ’ne ADue J ’ly fc D ue A ug 0 D ae Oct p D ue N ov s Option S alt

N e w Y o r k B o n d R e c o rd — Continued— Page

J u l y 21 1906.J
BOND-*
S . Y. STOCK E X C H A N G E
W eek e n d i n g J uly 20

2

c

Ohio Si L A Pitt* See Penn C(
CWc St P M A O oon 6 e ...l9 3 0 J-D
Cons 6 s reduced to 3 *2 8 . 1 9 3 ' J-D
Ch St P A Minn l s t g 6 s 1918 M-N
N or W isconsin 1st 6 s ...1930 J-J
St P <fc S City 1st g 6 s. ..1919 A-0
Chicago T er Trans g 4 s ...194'. J -J
Coupon o f f ............ ..................
Chic<fe W est I n d g e n g 6 8 (71 931 Q-.M
Chic A W M ich Set Pere Marq
Choc O Sc G ulf See C R I <fc P
Cin H <fe D ‘2d gold 4 **s...193'; J-J
Cin D & I 1st gn g 5 s ...1941 M-N
C Find <&F t W le t gu 4 s g / ‘2c M-N
Cin 1 & W 1st gu g 48.1953 J-J
C I St L <fc C See C C C cft St 1
C in S & U ^ t f C C C S t L
Clearfield <fe Mah See B R <fc P
Clev Cin C & St L gen g 4s 1993 J-D
Cairo B it 1st gold 4 s___1931 J-J
Cin W <fc M Div 1st g 4s. 1991 J-J
St L D iv 1st col tr g 4 s.. 1999 M-N
Registered..................... 199t M-f\
Spr & Col D ir 1 st g 4 s ..1941 M-S
W W V al Div 1st g 4 s . . .1941 J-J
C I St L A C consol 6 s ..l 9 ‘2l M-N
1st gold 4s.............__../cl93l Q-*
R eg iste re d .............. fcl93t Q-I
Cm S & Cl con 1st g 5s. .192.- J-J
C C C A I consol 7 s.........1914 J-D
Consol sink fund 7s___1914 J-D
General consol gold 6 s. 193- J-J
Registered..................1934 J-J
Ind Bl & W 1st pret 4s.194c A-0
0 Ind <fe W 1st pf 5 s ...(il9 3 - Q-J
Peo & East 1st con 4 s ...l9 4 t A-0
Incom e 4s.......................1991 Api
Cl Lor tfe Wh con 1st g 5 s .193; A-C
Clev <fc Marietta See Penn RK
Clev cfe Malion Val g 5 s ... 19 3;- J-J
Clev <fc Pitts See Penn Co
Col Midland 1st g 4 s.........194 . J-J
Colorado cfc Sou 1st g 4 s . . . 192; F-A
Colum & G reeny See So Ry
Col <fc H ock Val See H ock Va
Col & T ol See H o ck V al
Coi Conn <fc Term see N <fc W
Conn <fc Pas R ivs 1st g 4 s .194; A-C
I Yak <fc GT So See C M <fc St 1
JL/alias & W aco See M K & 1
Del Lack <fc W estern 7 s ... 1901 M-S
Moms<fc Essex I s t 7 s ...l 9 l 4 M-S
1st consol guar 7 s ....... 1915 J-D
R egistered..................1915 J-D
1 st ref gu g 3*2 3 ...........2 0 0 . J-D
N Y Lack & W 1st 6 s . . . 1921 J-J
Construction 5s.......... 192:; F-A
Term & im prove 4s___ 1923 M-S
Syr B ing <fc N Y 1st 7 s ..1900 A-C
W arren 1st ref gu g 3 *2 9 .2 0 0 0 F-A
Del cfc Hud 1st Pa D iv 7 s .1911 M-S
R egistered..................... 1917 M-S
10-yr c^nv det> 4s.......... 1916 J-D
A lb & Sus con v 3*28 ........1940 A-O
Kens <fc Saratoga 1st 7s. 1921 M-S
Dei R iv R R B ridge -See Pa R R
Deny & R Gr 1st con g 4s. 1930 J-J
Consol gold 4*23 .............. 1930 J-J
Im provem ent gold 5 s...1 9 2 b J-D
Bio Gr W est 1st g 4 s___1939 J-J
M ge and coi trust 4sA .1949 A -0
XJtah Cent 1st g n g 4s al917 A -0
R io Gr So gu See R io Gr So
Des M 01 Sc F t D See M & St L
Des M <fc M inn See Ch cfc N V
Des M oi Un R y 1st g 5 s ..1917 M-N
Del M <fc T o! See L S & M S o
Det <fc M ack 1st lien g 4 s .1995 J-D
Gold 4s............................... 1995 J-D
Det Sou 1st g 4 s................ 1951 J-D
Ohio Sou D iv 1st g 4 s . . . 1941 M-S
Dulcfc Iron Range 1 s t 5 s.. 1937 A-C
Registered........................ 1937 A-C
2d 6 s .................................. 1910 J-J
Dnl Short Line 1st gn 5 s.. 1 9 lb M-S
Dul So Shore <fc A tl g 5 s ..1937 J-J
L ast ot M inn See St P M & M
I-Jast Ten Va & Ga See So Ry
Elgin Jol <fc East 1st g 5 s .1941 M-S
Elm Cort <fc N o See Leh Sc N 5
E ne 1st ext gold 4s.............1947 M-S
2d ext golcf5s................... 1919 M-S
3d ext gold 4 ^ s ................1923 M-S
4th ext gold 5s..................1920 A-O
6 th ext gold 4s................. 192b J-D
1st consol gold 7 s .............1921 M-S
1st consol g fund 7s........192u M-S
Erie 1st con g 4s p rior.. 199c J-J
R egistered.....................199c J-J
1 st consol gen lien g 4 s.. 1990 J-J
Registered..................... 199b J-J
Penn coll tr g 4 s.............1951 F-A
50-year con v 4s A .........1953 A-0
Buff N Y Sc Erie 1 s t 7 s.. 1910 J-D
Buff Sc S W gold 6 8 ......... 190b J-J
Chic Sc Erie 1st gold 5 s ..1982 M-S
Jeff R R 1st gu g 5s___ al909 A -0
Long D ock consol g 6 s ..1935 A-O
Coal Sc R R 1st cur gu 6 s. 1922 M-S
Dock Sc Im p 1st cur 6 s ..1913 J-J
N Y Sc Green L gu g 5 a .1940 M-S
N Y Sus Sc W 1st ref 58.1937 J-J
2d gold 4*23 ................... 1937 F-A
General gold 5s.............194c F-A
Terminal 1st gold 5s. ..1943 M-S
R egis $5,000 ea ch ...1943 M-S
M id R R o fN J I s t g 6 s .l9 1 0 A -0
WlLk Sc Ea l s t g u g 5s. 1942 J-D
Ev Sc Ind 1st con gu g 6 s ..1920 J-J

Frit*
Friday
July 20
Bid

Weet?$
Range or
Last Sals

Range
5 0

A 9k Lots

130*2 1S5

131
131
92*2........ 93 Deo’03
130 133 133 J’ne’06
125 ......... 1293* Mar'04
120*2......... 120*4 J’ne’06
101 *2 May’00
98*4

98*4

13134 135*4
126*8 i :2 i n
1 0 0 *2 1 0 1 * 2

98
113

98*4

113 O o t ’Oi
107*2 J’ly ’06

1 0 1 *2 1 0 2 v

91

Mar’ OB

102

102

100*4 J’ly ’Ot
100 J’ne’06
100*8 J’ly ’00
100 Uct ’04
99*4 Feb *05
95*4......... 94*2 Aug’08
I 0 5 * s ....... 105 Jan '04
100 103 *« 101 J’ne’06
101 May’O*
113*4 J’ne’Oi
110*2
118*2
118*2 118*2
.........100*4
.........100
........ 100**
......... 99

130

134

January 1

vVo Low Bigh
2 131
136

113*2 J’ne’06

107*2 109

Sines

L07 *2 112
91

*

91

15 102 10534
100*4 100*4
100
1 0 1 'b
100 103

101 103*2
101 103
112^ 1 15
118*2 1 2 2

F e b ’ 06

134

135

104*2 N ov’ 01
.........

98
71

98

98
71*2

71 Sale
10934 .......

115*2Mar’Oo

112*2

116*2 Jan ’0.
72
93*2

72
73*2
9 o34 Sale

10 o34
120
1215g

72\
94

1*1

21

12

10

126*8 Mar’ 06
112 M ai’ 06
102*2
102*4 J ’ne’OO
102 m
1 0 1 *2 May’ 06
95
102 F e b ’03
133 F e b ’ 06
127*8
149 A ug’01
10734 Sale 107*4 108 102
110*8 21
110*8 Sale 109
13338....... 142*2 Mar’05
110*4

93*2 96
....... 92
112

L26*8 126*4
114^

112
102

102*4

101 *2 104 *4
133

133

107
105

110*4
117

10

99 101*4
106*2 108
107 109
14 94*4 100
10 86 *2 92

Sep ’ 04

F e b ’06
Mar’ 06
Mar’ 05
89*2 89*2 J ’ne’ 06
113 J ’l y ’OO
1 1 2*2 F e b ’06
99*4
96 34
8 1 a4

103*2

79*8
96*2

120

121*2

110

71
90

104 7s 107 7s
126*8
121 127

1047s A p r ’ 06
120 J ’ne’ Ob
121
121
127 J ’ne’Oo

........ 100*9 99*2 100*2
103*4 108*2 108 M ar’06
105*4 107 107*4 May’06
94*4 95
94*4
95
88
90
88^
8 8 5e
97 J a n ’02

96*2101
69
80
115*2115*2

99*4 99*4
95
9634
89*$ 9334
112 114
112*2 112*2

113*2 A p r ’ 06

113

116*4

116*4 J ’l y ’ 06

116*4 11938

105
112
108Aa
112*4
10034

107*2 J a n ’ 06
114*2 F e b ’ OO
107*4 May'06
115*4 Jan ’ 06
103 F e b ’ 05
131 *2 13238
133 F e b ’ 06
99 5a 100*4
100*4 A p r ’ OO
90
9 0 1,
88
N ov’04
94 *4
95
102
103
127 N ov ’Oo
104®8 F e b ’06
11934 11934
102^4 D ec ’05
135*2 J ’l y ’OO
118 J ’ l y ’ 04
1153s D e c ’ 05
121 *2 Oct ’05
117
117
108 F e b ’ 06
106*2 J ’l y ’OO
118 May’ OO

107*2107*2
114 114*2
107*4 108*4
115*4 115*4

110

112*2

130*2
100

Sale

90 *8 Sale
94
103

94*2
Sale

120*2.........
99*4........
11934 120*4
102*8........
........ 135*4
111*2 . . . .

Iu5 . . . .
114*8 . . ..
114*2 H o
115
106*2
112

100

107
110
116

J ’l y ’06'
J’ ne’06
A pr *06

113*2

27 128 s8 134*2
133 133
46 9 9 * 4 102
100*4 100*4
24 89*2 93*2
22 91
98
81 10034 1097e
104 58 104 A.
118 1223*
135*8 135*2

116 118
103 103
105 110
115*4 115*4
107
110
116

M IS C E L L A N E O U S
G a s and E le c tr ic L igh t
Atlanta G L Co 1st g 5 s ... 1941 j JBtciyn U Gaa 1st con g 5 s .l9 4 5 ‘MButialo Gaa 1st g 5 s.......... 1941 AConaol Gaa conv deb 6 s___1909 J Con sum Gas See P G cfc C Co
Detroit City Gas g 5 s .........192:. j .
Det Gas Co con 1st g o s . . .191-1 FEd El Hi Bkn See K C o B L c fe l i
Kd E IR See N*Y G <fc E L H cfc i !
Eq G L N Y 1st con g 5 s.. 193-1MG as cfc Elec B erg Co e g 5s. 194 . > JGen E lectric deb g 3 ‘2 s . .194.' F
Gr Rap G L Co 1st <r 5 s ...1915 F________
Hudaon Co Gas 1stt g
o s . . 1949 MKan City (M oi Gas 1st g os 1922 A
Kings Co El L <fc P g 68...5931 A
Purchase money 0 s ......i 9 9 7 a
Ed El 11 Bkn 1st con g 4s 193!*| J

100\»

109*4
113
118

BON US
N. Y. STOCK E X C H A N G E
W ekk ending J uly 2 0
Erie Sc Pitts See Penn Co
Evans cfc T H 1st cons 68.1921
le t general gold 5a.........1942
M t V ernon 1 st gold 6®.. 1923
Sail Co Branch 1st g 6s. 1930
L*argo cfc So See Ch M Sc St i'
C lintcfc PoreM See Pere Mai
Fla C cfc Penin See Sea A ir Line
Fort St U D Co 1st g 4*28-1941
Ft W *fc Den C 1st g 6 s ....1921
Ft W <fc Rio Gr 1st g 4 s ... 1928
/ 1 al Har <fc S A See So Pac Co
1 Tal H cfc H of 1882 1st 58.1913
Georgia <fc A la See Sea A Line
Ga Car <fc N or See Sea A Lino
Georgia Pacific See So Ry
Gila V G <fc N or See So P ac Co
Gouv & Oswegat See N Y Cent
Grand Rap cfc Ind See Penn RR
Gray’ s Pt Term See St L S W
Gt Nor—C B cfc Q coll tr 4s 1921
Registered, h ................... 1921
Greenbrier R y See Ches cfc O
Gulf cfc S 1 1st ref cfc t g 5s 61952
an cfc St Jo See C B cfc Q
H ousatonio
See N Y N H cfc H
H ock V al 1st consol g 4*28.1999
R egistered........................ 1999
Col cfc H V 1st ex t g 4s. .1948
Col & T ol 1st ex 4 s ....... 1955
H oust E <fc W T ex See So Pac
Houst cfc T ex Cen See So Pac Co
1 llinois Central 1st g 4 s .. 1951
1 R egistered..................... 1951
1st gold 3*28 ..................... 1951
R egistered..................... 1951
Extended 1st g 3 *28........1951
1st gold 3s sterlin g.........1951
Coll T rust gold 4s...........1952
R egistered..................... 1952
L N O cfc T ex gold 4s ...1 9 5 3
R egistered..................... 1953
Cairo Bridge gold 4s___ 1950
IcOuisvDivcfcTerm g3 *2S.1953
Middle D iv r e g 5 s ...........1921
Omaha D iv 1st g 3s....... 1951
St Louis Divcfcterm g3s.l951
Registered..................... 1951
Gold 3 *28........................ 1951
R egistered..................1951
Spring D iv 1st g 3 *2 8 ...1951
W estern Lines 1st g 4 s .. 1951
Bellev & Car 1st 6s....... 1923
Carb cfc Shaw 1st g 4 s . . . 1932
Chic St L & N O g 5s. ..1951
R egistered..................... 1951
Gold 3 *28........................ 1951
R egistered..................1951
Mernph D iv 1st g 4 s . . .1951
St L Sou 1st gu g 4 s___1931
Ind Bl cfc W est See C C C cfc S t L
Ind D ec cfc W 1st g 5s........1935
1st guar gold 5s................ 1935
Ind 111 cfc la 1st g 4 s......... 1950
Intcfc Great N or 1st g 6 s ..1919
2d gold 5s.......................... 1909
3d gold 4s.......................... 1921
Iow a Central 1st gold 5 s .. 1938
Gold 4 s............................... 1951
J efferson R R See Erie
a l A & G R See L S cfc M b
K an
cfc M ich See T ol cfc O C
K C Ft S & M See St L cfc S F
K C & M R c fc B See St L cfc S I
Kan C cfc Pacifio See M K cfc T
Kan City Son 1st gold 3 s.. 1950
Registered........................ 1950
Kentucky Cent See L cfc N
Keok cfc Des Mo See C R I& P
K noxville <fc Ohio See So Ry
Eri6 cfc W 1st g 5 s .. 1937
L ake
2d gold 5s.......................1941
N orth Ohio 1st gu g 5 s.. 1945
L Sho cfc M ich S See N Y Cent
Leh Val N Y 1st gu g 4*28.1940
R egistered.................... 1940
Lehigh V al (Pa) cons g 48.2003
Leh V T er R y 1st gu g 5 s .1941
Registered.........................1941
Leh V Coal Co 1st gu g 5 s .1933
Leh cfc N Y 1st guar g 4 s.. 1945
Registered.........................1945
El C cfc N 1st pf 6 s ....... 1914
Gold guar 5s..................1914
Leh & Hud R See Cent of N J
Leh cfc W ilkesb See Cent of N J
Leroy cfc Caney Val See M o P
Long D ock See Erie
Long Is l’ d—1st con g 5s.7DL931
1st consol gold 4 s.........M 931
General gold 4 s ................ 193b
Ferry gold 4*28 ................ 1922
Gold 4 s ............................... 1932
Unified gold 4 s ................ 1949
Debenture gold 5s...........1934
Guar ref gold 4 s...............1949
Bklyn <fc M ont 1st g 6 s ..1911
1st 58............................... 1911
N Y B & M B 1st con g 5s 193b
N Y cfc R B 1st g 5s....... 1927
N or ShB 1st con g g u 5 s o l9 3 2
Louisiana cfc A rk 1st g 5 s .1927
Louisv cfc N ashv gen g 6s. 1930
Gold 5s............................... 1937
Unified gold 4 s................ 1940
Registered..................... 1940
Coll trust gold 5s.............1931
6-20-yr col tr deed g 4s. 1923
E H cfc Nash 1st g 6s___ 1919

s i
Uw

-j
A-0
A-0
A-0
j

2

141
Price
hYiday
J uly 20

Week* s
Range or
Last Sale

•*
<»»b

Range
Since
January l

Bid
Ash Low
High A’ 0 1 a >w
117*8........ 122 Oct ’Of
106*2 109*2 109 L J’ D6*0i
107*4 10**3
114 A pr ’O'
103*2........ 100*4 F e b ’0(
100*4 106*|

J-J
J-D
J-J

110*2113
........ 87

105
111
87

Mar*9>
J ’l y ’Ot
J ’l y ’Ol —

A -0

.........103

101

D e c ’ 01

98** 195
25
98

111
87

115
91

J -J
Q-J

97 7s Sale
98 Sale

J-J

1 0 1 * 2 ........

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

1057e 106

104 78 1057*
8 1047s 1 1 0
105*2 J ’l y ’ 04
100
........ 100 May’OO ___ 1 0 0*8 1 0 1 *4
1 0 1 34 103
100*4 J ’l y ’ 0- — 1 0 0 1 0 0

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

109*2........ 110 D e c ’05
113*2 M ar’Ol
99*4......... 100 J ’ne’ OO
. . . . . . . . . __ 95*2 J ’l y ’Ol . . . .
99*2 J’ne’ Oi . . . .
70 Oct ’04
106 J ’l y ’OO
........ 106
10 2
Oct ’ 0 1
104*2 105 105
105
i
100 May’OO ___
106*2 Mar’05
91*2........ 91 -*2 J ’ly ’ oo ___
105 ......... 123 May* 9 9
78*2 A p r ’OO ___
82 *2 May’O . . . .

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

105

A -0
A- 0

J-J
J-J
A-O

9734

97*4

97 1017.
97*81014

101*2 J ’l y ’ OC . . . . 101*2 105*4

io o
95*2 95*2
99*2 101*4

106

104*2 107*^
103

106*2

100

100

91*2 9434
78*2 73*2
82*2 82*2

93*2 J’ne’ OO ___
93*2 93*2
101 *8 Oct ’99
100 ~N ov’OO
i o i » 4 ......... 10734 J a n ’Ob
LU/34 107 J4
11684 ......... 122 D e c ’ 05
90 N ov’ 98
2 I 2 0 ye 123*2
120
121
121
121
11934 Mar’04
8634 ......... 9358 May’ 04
...................

......... 913,

9934 ........ 1 1 0*2 J a il’ 05
103 N ov’ 04
........
........
98*4 100
.........116*2
102 Sale
7534 77*4
11034 ____
......... 8 6
102

7 2 34

Sale

1...................

1087? Jan ’00
10876 10878
107*2 D e c '02
100 May’OO
99 100
117 J ’ne’Oo ___ 116 1 2 0
10 2
iu 2
5 98 102*4
75*4 J ’ne’Oo
75*4 80
111*4 J ’ne’OO ___ 111*4 115
86
Mar’ Oo
86
88

31
72*8
73
63 Oct ’ OO

70*2 75*4

115*4......... 115*4 J ’l y ’ 06
115*4119
......... 1 1 0 y4 ilO y,
i 11()34 113 4
108 ........ 117 J a n ’oo . . . . 117 117

1 1 0y4

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

7 109 111*2
109*4
10958 ........ 109
112 *8 N ov’05
98 ......... 98*4 J’ne’ Oi
98*4 98*4
H i
........ 1 1834 A p r ’Oi . . . . 1 1834 120*2
109*2 Oct ’ 99
112
115*2
1 1 0 * 2 ........ 1125g A p r’Oi
96*4 May’06 . . . . 96*4 96*4
94*4 99

Q-J
Q-J
j-D
M-S
J -D
M-S
J -D
M-S
M-S
M-S
A-O
M-S
O-J
MS
J-D
M-N
J-J
J-J
M-N
A -0
J-D

1137s ........ 115 J ’ne’Oo
1 0 0 * 4 ........
......... 98*2 98 *2 J’ne’ O ...
102 N ov’ O:
9 9 *4 Oct ’ 05
5
9 7 ........ 96 78
97
110 J’ne’ 04
100
1
9 9 ‘2 104 1 0 0
105*2........
101
........ i0 3 5b J ’ly ’ 0
110
112 Mar’ O:
111 J a n ’ 00
112*8J ’ ly 05
107 78
....... I 105
105 J ’ ne’OO
115 ........ 115*4 J ’ne’OO ..
11038 ........ 121 *8 F e b ’ 0 >
1 0 0 3, 36
1 0 0*2 L0 0 y4 100*2
101*8 J ’l y ’Oo ___
.........113*8 111** J ’ ne’Oo
98
98
18
97*2 98
114*4 J’ ne’05
1 1 0 *8

1 0 6 a4

107

........ 113 7e Jan ’06
113 78 113 78
105*4 Jan ’ Oc . . . . 105*4 105*4

114*4 117
98*2 102*4
96

l o i 34

99

102*2

L03°e 10333
111

111

105 105
115*4 120*4
120

121*2

100*2 104*1
100
101s
111*4115*2
97 100‘a
-r

BONUS— Continued on N ext P a g e .

(*n« and E le ctric L igh t
Lac Gaa L o f St L 1st g 5 s .e l9 1 9 Q-F 105*4 Sale 105*4 105*4
3 104 108*2
Ref and ext 1st g 5s.......1934 A -0 IO434 sale 10434 104\
107 1077e 10734 10734 10 10734 113*2
2 I03*2l0434
93
94*2
70
80A1 Milwaukee Gas L 1st 4 s .. 1927 M-N ........ 94*2 93*4 J ’no’ OO
71 ........ ' 71
l y ’ oC
105 IO934
137 139 139
....... 10534 105*2 J ’l y ’oo
16 137 16834 N Y G E L H c f c P g 6 s ...1948 J-D
139
92
87 Sj " 4 | 86
Purchase money g 4s. ..1949 F-A ......... 87*2 87
102 104
Ed El 111 1st con v g 5 s.. 1910 M-S *101*8........ 102*2 A p r ’()*, ___ 1017e 10 4 *2
101*2
104
(118*4 1 IS
113*4 J ’ ne’ do
1st consol gold 5 s..
1995 J-J
105
102*2
100 *s 104 4
101 *2 J ’no’OO
N Y & Q E l L<fcP 1st con g 5sl930 F-A .........101
1
103 N ov’05 —
N Y <fc R ich Gas 1st g 5 s .1921 M-N
104 a* N ov’05 . -»•!
Pat <fc Paa G <fc E con g 5s. 1949 M S
112 No
117 123
120 J ’ne’oo
....... Peo Gas <fc C 1st con g 6s. 1943 A-0
61 *2 Oct ’01
SO
90
89*8 Sale I 89*8
Refunding gold os.......... 1947 M-S ........104*2 105 7e J ’ne’ 06 — 103 *2 10/ re
J 5: 86*4 90
8
107 107
107 J ’no'06
!10734 Dec
ChG-Lrfc Cke ls tg u g 5s 1937 J-J ........ 107
....
105 108
. . . . ......... 105 J 'n e’oo
Con G Co of Ch ls t g u g o s .’JO J-D
105 ....... 105 J ’ne
libs 108*2
— ; 98
103 *2 Dec Oo
------ -----98
96 .......
M n Fuel Gas 1st gu g 5s. 1947 M-N
98 Feb
1 r1
.
..... ......
m
122
i renron G cfc El 1st g 5 m.. 1949 M-S 109 ........ 110 M fiy’06
i i e ” iao 121 F e b ’Of
106 1OH\
93 V M a r’ O* 1---- | 93*2 93*2 |W estchester L ight’ g g 5s. 1950 J-D 1in ........ 106*2 A p r’OO
price Friday; la te st bid and asked this week, v D ue Jan b D ue Feb d Duo A p r e Due May A D u e J ’iy k D ue A u g oD uoO oC q D ue Deo

142

New York Bond Record-“ Continued— Page

liO iY D 8
N. Y. STOCK E X C H A N G E
W kkk Ending J uly 20

y•V
£

L ou is v So A ashy

St L D iv 1st gold 6 s--l!"l9 2 1
H ender Bilge 1st s i g 6s. 1931
K entucky Cent gold 4s. .1987
N Fla & 8 1st g u g 5 s ... 1937
Pens So A tl 1st gu g Os.. 192.'I
Stfe N A la con gu g 5 s.. 193d

M-N
J-J
J-J
M-S
<vn. t:
fd-S
i .n
M-S
J-J
M-S
J -J
F-A
H1. A
F-A
A -0
M-S

J'rice
/•Yiday
J u ly 20

Week’ s
Itanye or
Lust bate

li Ul
A Six
105*4.........
127 .........
120 .........
.........115
11 9 °8 .........
71
79
116 .........
110 ........
97*2.........
105*2........
95
97*4
1 12*8119
111 ........
112*8.........
104 *2 ........

5c

Low
JJigii A c
109 M ar’05 . . . .
130 J ’ ne’ DG . . •.
122*4 M ar’Oo
114 A p r ’ 05 ___
120*2 Mar’Ol
7 4 ^ Oct ’05 . . - 116 J ’ne'Ot
108*2 Jan J0b ___
100 j ’ ne’ 06
108 J ’i y ’06 ....
95 J ’ l y ’ 06
114 May’06
112E MarU6
115 *4 Mar’ 05
107 D e c ’ 05
97 May’06 . . . .

' t .,
Jet'* Ktr' j

N. Y. STOCK E X C H A N G E
W eek E n d i n g J uly 20

t<s

N Y Cent dc H R—(Continued j\
N or dc M ont 1st gu g 5 s .19i o
"1 2 * i 3 j
1 J-J
122 y 1 2 '4
J-J
____
Lake Shore
1 J-D
1 J-l>
S M-S
116 ] ’ 6
1 F-A
10 *2 8*2
Ka A<fc G R l s t g u c 5 s .19: - J - J
VM 101
Mahon CT R li 1st 5s_.19: 1- J-J
>T 1
lo s n o
95
97
1 J-J
114 117
7 J .J
1124112*2
) M-S
5s.
19: M-S

97 100 4
L Sb Jet! Bdge Co gu g 4 s.. 1945
L .N A & CH bee O I & L
alion Coal bee L b & M S
M anhattan B y consol 4 s .1990 A-0 101 *8 Sale 10034 101*4 17 10038 103 7e
104 A p r ’ 05
R egistered................. 1990 A-O
M etropol El 1st g Os___1908 J-J 103*8......... 103*8 J ’i y ’ 06 — lU2cg 1 o6 38
M cK ’ pt So B V bee N Y Cent
M etropolitan El
M an Ry
12 75*2 85
7 5 sa Sale
75*2
76
M ex Cent consol gold 4 s.. 1911 J-J
18*2 Sale
17*2
185e 76 10*2 263s
1st consol incom e g 3 s.a l9 3 9 J’ly
75 14
16
14
15*2 15
21
2d coiisol incom e g 3 s ..a l9 3 9 J ’ly
E quip So coll gold 5s....... 1919 4 -0
98*2 101
Coll tr g 4C s 1st Ser___1907 F- A 100*2....... . ; o i J ’l y ’ 06
9i>58 J ’iy ’o i
M e x ln te rn a t l 3 tco n g 4s. 1977 vi-S
105 wMay’00
M ex North 1 st gold 6 s___ 1910 T-n
M id i Cent bee N Y Cent
Mid ol N J bee .Erie
M il H S So W bee Clue So N W
M il So N orth bee CH M & St P
Minn <& St E 1st gold 7 s.. 1927 J -D 134*2........ 137 J ’ne’ 05
111 *8 Oct ’05
Iow a E x 1st gold 7 s ....... 1909 .1 .r>
I173g 120 *8
P acilic Ex 1st gold 6 s . . . 1921 A-0 118 ......... 117Gs J’n e'oe
113*4 M ar’ 05
South W est E x l s t g 7 s .1910 J -D
113 113 J T y ’06 . . . . 111 114*2
1st consol gold 5s.............1934 M-N i l l
2 90*2 97
94 ........ 94
94
1st and refund gold 4 s ..1949 ■VI-S
95 ......... 97 A p r ’06 .... 97
97*2
D es M Sb F t D 1st gu 4 s ... ’35 J-J
M inn So St n gu b e e B C B So N
99 ......... 102*4 J ’n e’06
10034 102*4
M S t P & S S M c o n g 4 in t g u ’38 J -J
103 N ov ’01
M S S M'<fc A 1st g 4 int gu 1926 J - .1
Minn Un bee St P M SoM
99^8 100*8 32 99 *8 103
Mo Kan So T ex 1st g 4 s ... 1990 J-D 100 Salt9 85
S834 ^aie
88*2
39*2
925*
2d gold 4s........................ £/j.990 F-A
106 J ’ne’06 . . . . L03 *s 10758
1st e x t gold 5s..................1944 M-N ........ 106
87*2 J ’ne'06 .... 87*2 91*2
1st & refund 4 s.......... .-..2004 M-S
85a4 8 6
88*2 J ’ne’ 06 . . . .
87
89
Gen s f 4 *2 S sub r e c t s .........
94
St E D iv 1st ref g 4 s ....2001 A-0 *8 8 * 2 ......... 88*2 J’ly ’ 06 . . . . 8 8
105 7s 108
Dai So Wa 1st gu g 5 s ... 1940 M-N 10434 ........ 108 F e b ’06
J ’ne’ 06 ___ 93*4 96*4
Kan U So Pac 1st g 4 s ... 1990 F-A ......... 95
113*4 May’ 06
113*4 116
M o K So E 1st gu g 5 s ... 1942 A -0 .........113
107
106*2 10978
M K do Ok 1st gu 5 s.......1942 M-N .........106*2 107
M K do T of T 1st g u g 6 s .194.2 M-S 107 ........ 105 J ’ne’ 06 .... 105 109
Slier Sh do So 1st gu g 5s. 1943 J-D 1 0 1 ........ 108*4 A p r’ 06 — 108*4 108 l4
10534 A p r’ 06 — 10534 109*2
Text& Okla 1st g u g 5 s ... 1943 M-S
M issouri P acilic 3d 7s....... 1906 M-N 101>4......... 102 *4 J ’ ly ’ 06 — 101 104
120 125
1st consol gold 6 s .............1920 M-N 1 2 0 34 12134 1 2 0 ^ J ’ne’ 06
11 103*2 107*8
10334 104
T ru st gold 5s stam ped.al917 M-S ........ 104
107 *2 F e b ’06
R e g is te re d ..................al917 M-S
104*2 107*2
1st coLl g o ld 5 s..................1920 F-A 10478 ........ 105 J T y ’ 06 — 103 108*2
29
917
s
92E
92*8 — »--91
9-4*2
40-year gold loan 4s....... 1945 M-S
95 J ’ly ’06 —
94
99
94*2 97
Cent Br B y 1st gu g 4 s .1919 -A
lo
u
.........
110 M ar’05
Leroy So C V A L i s t g 5s 1926 J -J
103 105
Pac B of M o 1st ex g 4s. 1938 F-A 103 ......... 103 A p r ’06
116 1203s
2d extended gold 5 s ... 1938 J -J 115*2116*2 118 J ’ne’06
3 112 11734
114
St L I r M & Sgen con g 5sl931 A-0 114 Sale 114
L16 N ov’05
Gen con stamp g td g 5s 1931 A-0
8 89*2 94
89
90
89*2
8934
U nified So ref gold 4 s.. 1929 J - j
3 92*2 96
92*2
92 *2
92 *2 Sale
B iy Sb G D iv 1st g 4 s.. 1933 M-N
107 *2 A p r ’06 — 107*2107*2
V erdi V 1 & W 1st g 5 s .1926 M-S
Mrobtfc Birm prior lien g 5s 1945 J-J 1 1 0 . . . . . . 1153s A p r ’06 . . . . 113 115 38
96 Oct ’05
M ortgage gold 4 s.............1945 J -J
96 A p r ’ 06 ___ 94*2 97
M ob J & K C 1st cons g 5s. 1953 J-J
Mob So Ohio new gold 6 s .. 1927 J-D *12334 ____ 126 May’ 06 __ 126 127
122 D ec ’05
1st extension gold 6s..7il927 Q-J
\
6 94 *2 9 9
94*2
95
General gold 4 s................ 1938 M-S
M o n tg o m D iv 1st g 5 s ..1947 F-A 113 ......... 114*2 J ’ly 06 • 0 113-2 11434
93*2 94*2 98*2 J ’ne’ 06 .... 95
98
St L So Cairo coll g 4 s..e l9 3 0 Q-F
97*2........ 101 N ov ’04
Guaranteed g 4 s ...........1931 J-J
M Sb O coll 4s bee Southern
M ohawk & M ai NeeN Y C & H
Monongahela B iv bee B So O
M ont Cent bee St P M So M
M organ’ s La So T bee S P Co
M orris Sb Essex bee D ei L So W
115*2ll958
Chat & St L 1st 7s. 1913 J-J 116 ......... 119 May’06
N ash
1st consol gold 5s.........1928 A -0 1133&........ 1133s J’ ne’OC . . . . 1 1 2 115*8
Jasper Branch 1st g 6 s .. 1923 J-J 114 ........ 119*4 F e b ’06 . . . . 119*4 119*4
M cM M W So A i 1st 6 s .. 1917 J -J 1 1 0 ......... 117*4 M ar’05
T & P Branch 1st 6 s . . ..1917 J-J 1 1 0 ........ 113 J’ly ’ 04
Nash Fior A Shef bee L So N
N at of M ex prior lien 4 *2 8 .1 9 2 6 J -J 1 0 1 _____ 105 A p r ’06
102*2 105
1st consol 4s..................... 1951 A-O
84
84*2 83*4
83*2 15 83
87*2
N ew H So D bee N Y N H & H
N J J u n e B B bee N Y Cent
N ew So Cin B dge bee Penn Co
N O & N E prior lien g 6 s #1915 A -0
N Yr Bkln So Man Ben bee L I
96 Sale
N Yr Cent So PL B iy g 3*2S.1997 J-J
y55e
96*4 86 9 5 9934
5 94*2 98*i
R egistered..................... 1997 J- J
94*2
94*2
9 j 34 1 0 1
18 98*4 102
D eben g 4 s.......................1934 M-N 100*4 Sale
90 Sale
Lake Shore coll g 3*2 8 . . . 1998 F-A
88
90*8 27 8 8
93
R egistered..................... 19-98 F-A ........ 89
88
88
6 87*4 91*2
89 34
8934
1 , 8 3 78 92*2
M ich Cent coll g 3*28 ___ 1998 F-A
89*2 90
R egistered..................... 1998 F-A ____ 88
88*4 J ’ne’06
86*4 90*4
Beech Creek 1st g u g 4s. 1936, J-J 102*4........ 102 J ’ly ’ 06
102 105*2
R egistered..................... 1936 J-J
102
M ar’04
2d gu gold 5 s................ 1936 J -J 10334 .........
Beech Cr E x t 1st g 3 *28 51951 A -0
Cart So A d 1st g u g 4 s ... 1981 J-D ......... 10368
Clear! B it Coal 1st s f 4s. 1940 J -J
95 A p r ’ 02
G ou v So Oswe 1st gu g 5s 1942 J-D
M oh So M ai 1st gu g 4 s.. 1991 M-S ........ 107 78 105 N ov ’ 05
N J June R gu 1st 4 s ... 1986 F-A
105 Oct ’02
N Y < fc P u ls t c o n g u g 4 s 1993 A-O
104*2 F e b ’06 —
104 *2 i0 4 *2

J J-J
> J -J
M-S
M-N
J-D
N Y dc Harlem g 3*2S.-.2()0< )|M-N
R egistered.................... 200( » M-h
N Y & N orth 1st g 5 s ... 192' A-O
R W dc O con I s t e x t 5 s ./il9 2 : A -0
Oswe So R 2d gu g 5s...<?191; F-A
M-N
J-J
A-O
R egistered............... 1___ 193' A-O
N Y dc Greenw Lake bee En<
N Y So H ar bee N Y C dc Hu<
N Y Lack & W bee D L < feW
N Y L E dc W bee Erie
N Y dc Long Br bee Cent of N J
M-N
M-N

N Y So N orth bee N Y C & H
N Y O & W ref 1st g 4 s ..^199$ M-S
R egis §5,000 on ly.........g l9 9 i M-S
N Y So Put bee N Y C So H
N Y & R B bee L on g Island
N Y S db W bee Erie
N Y T ex So M bee So P ac Co
M-N
N orf So W est gen g 6s.
M-N
F-A
A -0
A-O
R egistered................. .
A-O
D iy ’l 1st 1So gen g 4 s..
J-J
Pocah C So G jo in t 4s.
J-D
J -J
M-N
North Illinois bee Chi Sb N ^
North Ohio bee L E rie Sb W
Q J
Q-J
General lien gold 3 s ... .a2047 Q-F
R e g is te re d ............... U2047 Q-F
J-D
R egistered.......
J-D
C B So Q coll tr 4s
F-A
O- F
St Paul So D ul 1st 5 s
1931 F-A
2d 5 s .............................. 1917 A-O
J-D
Q-M
Nor Pac T er Co 1st g 6 s ..1933 J-J
N or R y Cal bee So Pac
Nor W is bee C St P M & O
Nor So M ont bee N Y Cent
Ind So W bee C C C So St L
O hio
R iver R R 1st g 5s. 1936 J-D
General gold 5s................ 1937 A -0
Ore So Cal bee So Pac Co
Ore R R & N ay bee Un Pac
Ore Short Line bee Un Pac
Oswego So Rom e bee N Y C
O C F & St P bee C So N W
Oz’rk & Cher C 1st g u 5 s g.1913 A-O
O a c Coast Co 1st g 5s___ 1946 J-D
X ac of M issouri bee Mo Pac
Panama 1 st s fund g 4 *2 8 .. 1917 A-O
Sink fund subsidy g 6 s .. 1910 M-N
Penn Co—Guar 1st g 4 ^ s . 1921 J-J
R egistered..................... 1921 J -J
Guar 3*28 coll trust reg.1937 M-S
Guar 3*28 coll tr ser B ...1 9 4 1 F-A
T r Co certif’s gu g 3*28.1916 M-N
C St L Sb P 1st con g 5 s .1932 A-O
R egistered..................... 1932 A-O
Cl So P gen g u g 4 i28ser A . ’42 J-J
Series B .......................... 1942 A-O
Series C 3*2S..................1948 M-N
Series D 3*28 ..................1950 F-A
E rie & Pitts g u g 3*28 B .1940 J-J
Series C.......................... 1940 J -J
N So C Bdge gen gu g 4 *28 1945 J -J
P C C & St L g u 4 *28 A . . . 1940 A-O
Series B g uar................ 1942 A-0
Senes C guar................ 1942 M-N
M-N
Series E 3*2 guar g ___ 1949 F-A
Series F 4s g u a r .........1953 J-D
Pitts F t W So C 1st 7 s ... 1912 J -J
2 d 7 s.................................1912 J-J
3d 7 s............................. 41912 A-0
Penn R R 1st real est g 4s. 1923 M-N
Consoi gold 5 s..................1919 .Vl-S
1943 M-N
Consol gold 4*s........
•'Convertible g 3 *28........... 1915 J-D
Convertible g 3 *2 s...........1912 M-N
All eg V al gen gu g 4 s ...1942 M-S
Ci & Mar 1st gu g 4 *2 8 .-1 9 3 5 M -N
D R R R<& B ge 1st gu 4s g .’36 F-A
G r R & I ex 1st g u g 4 *2 S 1941 J-J

VYe e k
Range 01
Last >>a

L rict
b'rxduy
J u ly 20

P.

Lou

[V O L . L X X X II I

3

b id

-c y

Ask Low

Hangs
since
January 1

do Low H ig h

“ iilOS 109
x0*5
. . . . . . 105 IlOo
2 i103 s* 1072*4
103 ^ 104*l 103 °8 104 k
27
97 *2 9 7 J T y ’06 . . . . 96*2 100 *2
9 34 Mav’ * i
9 9 34 Sale
99 >4
9934
•0*4 1 0 1 7a
101 *8 F e n o
. 01*8 101*8
...................
] 27 l2
125 _____
109 .........
105 ........
117 .........
J15 1 ] 9 *2
102
.........
........

97

*........ 101*2
1 1*2

113

12.5 *2 M ai oc

12 2 *2 12 0 *2

107 *4 J ’ne <n ... i 07 *4 107 *4
1 1118^4 X‘J0
1 18*4 l i « 4
119 J 5jj 0 7
104*2 Mar’op .... 104*2 104*2
106*2 N ov’ OO
97
101*2

J T y ’06

96-8 98*2

LOIS.

4 101*2 1 0 1 ^

119*2
•5
......... 113 *2 1x4
11334 Jan u_

8

113 *4 118

100
......... 107 *2 Feb ’0.7
...................
10434 . . .
104Sx 104 k 16 : 03-4 106
103 Oct :U5

11850 ......... 124
101^102

F e b ’06

101*2
101*2

,124

D |l00*4 104 34

101*2

J ’neO t

1101

102*2110
110 May’ 06
*131 ........ 1317s J Ty ’ u6 ....
131*4........ 130 *4 F eb ’0 0
131 . . . .
—
1003s Sale 1 0 0
100**8 29
LOU F e b ’00 ___
99 J ’ne’ OO . . . .
7
93 Sale
92 *2
93
fu9 Si F e b ’ 05
101
1o f Sale LOO
1

104 Sale 10334 104*4
103 *2 ........ 102*2 103 E
7634
7t
76 7s Sale
......... 76 J ’ne'06
98 ......... 98 J T y ’ 06
1 2 4 3 4 .........

i i 3 * 2 .........
107 ........
98 4 .........
il3 3 8 .........

125

101*2

Il0734 111
1317s 13234
IL3U34 130 *4
1 99-T 103
100

I 97
91

100

i9 E
9-7*2

9 9 g8 1U3

m ; l i o 2 34
1*4 102*4
^-'5 75
___j 7434
____ 98

106*4

106
78 *2
76
101

1 124
12434 May’ 06
125
132 J ’iv ’99
113 M ar'or
113 115
109j4 Alar'06 ...J 109*2 1 1 0
1 100
100
lo u
100
93 May 0-.
91
93
116 May U6 — 115 1 1 6 34

113*2........ 116 May’ 06
109 1 i jL*2 11434 Jan Ju6

116 116
n u * 8 i l 4 34

98*4 J ’ne’06
no
no

98*4 1 0 0 ^
i LlO 114

iio

110*8

10334 ........ 103 J ’ly ’06
102 A p r’ 02
106*2 Sale L06*2 1 o6*2
104 as 1 0 o a4 10734 D e c ’05
89*2........ 90*2 J ’ne’06
......... 91*2 91*2 M ar’Oo
96 :2
96
96 58 96 *2
.........117*2 1L7 *2 J ’l y ’06
iii

. . . . 103
23 106

107
I o8*>4

. . . . 90*2 90*2
.... 91*2 9234
1 96
98
. . . . 117*2 122

34 ........ 108*4 A u g ’ 03
98*2 D e c ’05
96 J a n ’ 04
96*4 Jan ’06 . . . .
9834 A p r ’ 04

100*4.........
108*2 ....... n o
108*2........ n o

1
no
J’ne’ 06 . ...
1 1 2*2 J ’ne'05
98*4........ 99 J ’ne’ 06
91 ......... 92*2 Mar ’ 0 6 ••••

96*4 96*4
109 *2 i l 2 7g
109*2112*4
99
99
92*2 94*8

127 5e Oct ’ 02
119 J ’ne’06
118 119
119 A p r ’ 04
I0 4 7g ......... 106*2 J ’ne’ 06 __ 106*2 106*2
L l l -*2 Sep ’ 04
106 A ug’ 03
93 *2 Sale
93
93*2 33 92 *4 101
97 Sale
96*2
97 769 95 5S 10534
104*4 Oct ’ 05
110 J a n ’ 05
107*2 May’06 —

107*2 108^

M IS C E L L A N E O U S BON US—C ontinued on N ext B a s e
C o a l a n d Ir o n
Col F So I Co gen s f g o s .. 1943
Convertible deb g 5 s___1911
Col Q So I D ev gu 5s g._1909
Col Fuel Oe g e h guld 6s. 1919
G r liiv Coal So C 1st g 6sl919
Col In d u s ls t con v 5s gu A . 1934
1st g So coll 5s gu Ser B . 1934
Contin’talC l s t s f g u 5 s g .l9 5 2
Jetf<& Clear C So 1 1 s t g 5 s . 1926
2d gold 5s..... .................. M926
K an & H C & C 1st sfg5 s?1 9 5 1
Pleas V al Coal l s t g s i os. 1928
T en n Coal gen 5 s.............. 1951
•Xenn D iv 1st g 6s....... a !9 1 7
Birm D iv 1st consoi 6 s.. 1917
Cali C M Co 1st gu g 6s. 1922
D e Bar C & I Co gu g 6 s.1910
V Iron C oal& Co 1st g' 5s. 1949

F-A
F-A
J -J
»V1-N
A -0
F-A
F-A
F-A
J-D
J-D;
J -J
J -J
J -J
A -0
J-J
J-D
F-A
VI- S

T e le g r a p h an d TelepSione
Am Telep <&-Tel coll tr 4s 1929
Comm Cable Co 1st g 4 s ..2397
78
84
Met T
'£ 1st s t g 5s....... 1918
N Y So N J Tel gen g 5 s.. 1920
100
107 *2 Oct ’ 04
10258 A p r ’ 06
1025; 102^ West Union col tr cur 5s. 1938
Fd ana real est g 4*2 8 . . . 105o
76 E Sale
75
77
35 7 i v 88
M ut U n T ei s fund 6 s ... 1911
76
77
75 *2
77
26 73
83*2
N orth w T el g u t 4*28 g .. 1934
10758 D e c’ 04
107 May’ 9 7
102 *2 Oct ’ 03
M anufacturing & Industrial
105 105*2 Oct ’ 05
Am Cot Oil ext 4*2 8 .......... 1915
105 Oct ’ 00
J ’ly ’06
97
97*2
97*4 101*2 Am H ide So L 1st s f g 6 s ..1919
109 J ’ne’06
107 *2 109
105 110*2 Am er Ice Seeur deb g 6 s .. 1925
Am Spirits M fg 1st g 6 s .. 1915
106 108 106*4 106*4
L 0 6 *4 lll
L02 D e c r03
Am Thread 1st col tr 4 s ... 1919
101
103*2 F e b ’ 06
103*2 10334 Am Tobacco 40-yr g 6 s ___1944
95 *2
4s.................... ...................1951
9134 100
95
95*4

100

102

102*8 J ’ne’06
87 J ’ne’06

106
S7

’“No price Friday; latest bid and asked. aDue Jan 5 Due Feb c Due

•1

105
102*4

ar

d

Due Apr

h

Due J’ly Jc Due Aug

0

J -J
Q-J
95 *2 .........
M-N
M-N
J-J 105 * 4 ........
M-N 103 Sale
M-N 1 0 1 ^ .........
J-J

3 903s 95*4
90*%
903s
96 s- J'n e’06
96*2 98
109*2 May’05
1
105*4 J i y ’ 03
1 105 **4 109 *2
105*4 105*4
1U2 SQ 103
105
6 102
106*2 107
10 6 *2 M ar’06
103 J ’l y ’ 04 — ...................

Q-F ......... 95*2 96 J’ne’ 06
94 7s 98
M-S
91 Sale
90 *2
91
1 0 90 100*8
A -0
8 6 34 Sale
8634
S 634
1 3634 93*2
M-S * ........ 103
99 104
LU3 J T y ’ 06
J-J
90*% 91 78
88*2......... 917e Apr ’ u6
A-O IIS Sale 111*4 112
6i LlO 117*o
F-A
77 34 Sale
84
77
7 7 78 214 77

Due Oct

p

Due Nov

q

Due Dec

s

Option Sale

Ju

l y

New York Bond Record— Concluded— Page

211906. J
U O M )S

Price
fY id av
J u ly 20

N. Y . S T O C K E X C H A N G E
w k k k Kx p i k q J u l y *20

P ou cl K K—( Continued;
P hilaB al A W 1st g 4 s.. 1943
Sun a Lewis 1st g 4 s ... 1030
U 2s J KK A Can gjen4a. 1944
Pensacola A AtL tie* L A -Nash
Peo A East tie* O C C A St L
peo <te Pek Un 1st g Os---- 19*21
2u gold 4 4 s ..................... <>19*21
PereM uny—OhA W M 5s 19*21
Pliut A- P M gG s.............. 1920
1st consol gold 5 s......... 1939
Pt Huron Div 1st g 5 s .1939
S agT u set H 1st vu g 4s. 1931
Phil B Jo \Y See P enn R R
Pluia A Heading cons 7s. 1911
Pine Creek reg guar 0s ...1 9 3 2
Pitts Gin A S t L See Penn Co
Pitts Cleve A T o i tie* B A O
P u is Ft W tv Ch tie-* Penn Co
Pitts Juno 1st gold Gs........192*2
Pitts A L Erie 2d g 5s...al9*2S
Put® M cK ees A V tiee IS Y Ceu
P uts Sli A L E 1st g 5 s ...1940
1st consol gold 5s.............1943
Pitts A West tie* B « t O
Pitts V & Asli 1st con 5 s .19*27
] ) ending Co gen g 4s........1997
XX R egistered..................... 1997
Jersey Cent coll g 4 s ... 1951
Rensselaer A Sar tiee 1) A H
Rich A l>an tiee South R y
Rich A M eek tiee Southern
Bio Ur West tiee Hen A llio Gr
Rio Gr J uuc 1st gu g 5 s . . . 1939
Rio gT So 1st gold 4 s.........1940
Guaranteed.......................1940
Roch A Pitts tiee B R A P
Rome Wat A Og tiee 2s Y Cent
Rutland 1st cou g 4 4 s ___1941
O g A L Cham 1st gu 4s g.1948
Rut-Cauad 1st g u g 4 s . . . 1949
Tus & l i tiee Pere M arq
S ag
t^O A Gr IsL 1st g 4 s . . .1947
St Haw A A diron l s t g 5S.199G
2d gold Gs.......................... 199G
St Li & Cairo see M ob A Ohio
St L 6c Iron M ount tiee 21 P
St L K C A 2s tiee Wabash
St L M Br tiee X R R A oi St R
St L A S P lan 2d g Gs Cl B 1906 M2d gold Gs Class C ______1906 MGeneral gold Gs................ 1931
G eneral^old 5s................ 1931
St H A S P R R cons g 4 s ..’ 96
Soutliw Hiv l s t g 5 s ..1947 ARefunding g 4 s .............1951 J5-year gold notes 4 4 --1 9 0 8 JK C Pt S A M con g 6 s.. 1928 !MX C Ft S A M R y re! g 4s 1936 Ak C i f c j i B a i> 1st gu 5s. 1929 ASt Louis So tiee Illinois Cent
St L S \Y 1st g 4s bd Ctis.1989 M2d g 4s me bond C tfs...p l9 8 9 JConsol gold 4s..................1932 j .
Gray’ s P tT e r 1st g u g 5s 1947 J ■
St Paul A B ui tiee N or Pacific
8t Paul M A Man 2d G s.,.1909 A1st cousoi gold Gs.............1933 JR egistered..................... 1933 JReduced to gold 4 4 s . .1933 J R egistered..................1933 J Dakota ext gold Gs.........1910 MM ont ext 1st gold 4s___1937 JR egistered..................... 1937 JK M inn 1st div 1st g 5 s ..1906 AN or H it 1st gold 4s___ 1948 AM inn Union 1st g Gs___ 1922 JMont C 1st gu g Gs.........1937 J •
R egistered..................... 1937 J 1st guar gold o s.......... 1937 JW ill A 8 P 1st gold 5 s ._1936 JSt P A N or P ac N eeN orP ac
St P A S’ x City See C St P M AO
S Fe Pres As Pli 1st g 5 s . . . 1942
S A As A P tiee So Pac Co
S Jf A N P 1st sink £ g 5 s .1919
Sav P Ac W est tiee A tl Coast L
Scioto Val Ac X E See N or At W
Seaboard A ir Line g 4s ...1 9 5 0
Coil tr refund g 5 s .........1911
Atl-Birm 3 0-yrlst g 4s.el933
Car Cent 1st con g 4 s ... 1949
Fla Cen A Pen 1st g 5 s .1916
1st land gr ext g 5s ...1 9 3 0
Consol gold 5s.............. 1943
Ga Ac A la R y 1st con 5s ol945
Ga Car At N o 1st gu g 5s 1929
Seab At Roa 1st 5s.............. 1926
Sher Slir Ac So tiee M X Ac T
Sil s p Oca As G tiee A tl Coast L
Sod Bay At So 1st g 5s....... 1924 J-J
So Car At Ga tiee Southern
So P ac Co—RK 1st ref 4s. 1955
G old 4s (Cent P ac co ll). /cl 949
R e g iste re d ................. /cl 949
A At X W 1st gu g 5e___1941
Cent Pac 1st rer gu g 4s 1949
KegrsLered..................... 1949
M ort guar gold 3 4 s . . h i 929
Through St L 1st gu 4s ’ 54
Ghi lia r Ac S A 1st g 6 s.. 1910
Mex At P a p is t g 5s___1931
Gila V G At N 1st gu g 5s. 1924
H ous L A W T 1st g 5 s.l9 3 3
1st guar os red.......... 1933
H i T C 1st g 5s int gu._1937
Consol g Ga in t g u a r... 191 2 i
Gen gold 4s int g o a r ..l 9 2 l ‘
W aco A X W div 1st tr Gs ’ 30

il:

tii a
*107*8

Range or
Last Sale

2
—-o

A sk Low
High A 0 \Low Hioh
110 4 F e b ’ 06
10D 110 4
110 4 Sep ’ 0-1

116
113% .
100% 108

112

I...................

123 % J an ’ 05
100% D e c’05
109 A p r ’02
112 4 A p r ’ 06
112 4 1 1 8
107 J iy ’ 06
107 1 1 0 4
....
110 A p r ’ 06
n o 1114

......... 115 4 M ar’ 06 —
137 N ov’97

11541154

120 O o t ’01
112 *0 D e c ’ 02

j '16

* 1 1 5 4 ........ 120
115 1 194 98

M ar’ OG —
J ’ly ’97

118

116 Mav’ 05
*99% Sale’ 99% 100 4 112
*99 ........ 100 4 J’ne’OG
98%
98% ‘ *5
98% Sale

•. - - w

Range
Shi?e
January 7

/0

109
76
89

.........1 2 5 4
130 ........

99% 102%
99 4 100 4
97 4 l o i 4

Mar*05
B e c ’05
Jan ’ 05

1 0 4 % ........ 106% Oct ’ 05
98 4 J ’ne’ OG ....
94 ......... 101 % N ov’ 01
90
122

120

90
J a n ’06

98 4 1 0 0 4

O 00
122

94 4
122

1 0 0 % ......
1 0 0 % .........
125 128
.........111%
90
96

101 J ’ne’06
100 4 1 0 2 %
100% Mav’06 . . . . 100% 102%
125 J ’l y ’ 06
125 127
110 J T y ’ 06
110 114
9 5 4 J ’iy J06
9 5 4 95 4
102 % A ug’05
82
82% 42 82
8 2 4 Sale
89
97 May’ 06
95% 97
i 18 4 ........ 120% J ’l y ’06
120% 121
82 %
83 ’ "*4 82*4 87%
82 4 Sal6
95% Sale
82 4 86
76 Sale

3
95%
95 4
87 J ’ne’ OG
76
76
"g

106% A p r ’ 06
1334 J ’ ne’ OG . . . .
140 May’ 02
111 % J ’ne’ 06 —
116% A p r’01
108 4 ......... 108 4 J ’ne’OG
100 102% 100 J ’ ly ’ 06
1 034 S e p ’ 05
1 0 1 4 103 1 0 1 4 J ’i y ’06 ....
102 4 ........
124 May’ 05
131 ........ 134% J ’ne’ 06 . . . .
136% May’06
........ i l 6 4 119 Mar’ OG
114 ......... 1214 Oct ’05

1 0 7 4 ........
131 ........
*.........136%
i o 3 78 m i4

95% 99%
84
89
76
82
106% 109 4.
13341374
110% 1 1 2 4
108
100

111
104%

101% 1 0 1 4
134 136
136% 136%
118% 119 4

109

......... 112 4 J*an ’06 . . . . 1 1 2 4 1 1 2 4

105

......... 110

86 4

Oct ’05

87

9
86%
87
IU1% J ’l y ’OG
......... 93 4 92% J ’l y ’06
96 ........ 96 4 M ar’OG
105 4 ___ 107% J’l y ’OG
104 ........
........ 107 4 109 4 M ar’ O5
1 0 8 4 ........ 110 4 May’06 . . . .
110 J a n ’05
1 0 7 % ......... 110 May’ 06 —
102
95 Sale
9 1 4 .........
9 0 4 ........
101% 102
8 6 % .........
94
96
1 0 5 % ........
........ 1 1 3 4
107 4 ........
1 0 4 4 ........
1034 ........
103 4 .........
109% .........
95
96

8 6 4 92
101 103%
92% 97%
9 6 4 97
LU7% 109%
1104111*2
no

110

Jan ’ 03

95
95% 171
91%
9 1 4 31
91 4 May’ 06
109 4 P e b ’06
161% 102 *20
98 % May’ OO
87% J ’l y ’ OG Is
95 J ’ne’OG
106 F e b ’06
111% J’ ne’OG
1 0 8 J ’l y ’OG
107% F e b ’05
103 4 J ’l y ’06
5
109 4 109 4
1114 A p r ’06
95 4 J ’l y ’ OG
127 4 Peb ’02;

94% 9 7 4
91% 96%
9 1 4 92
1094110
99 102%
98% 98%
87% 89
95
99%
106 106
110 111%
106 108%
103 4 105 4
109 4111%
111 1114
95 4 99%

3118C E LLA X EOU 8

BONDS
N. Y. STOCK E X C H A N G E
W e k k E n d in g J u l y 20

^ k

4
Price
ZYiday
J u ly 2 0

Hid
si ,vA
.southern Pao Co—( Continued)
M organ’ s La A T 1st 7 s .1918 A-O 1*23*8.........
1st gold Gs.................... 1920 J -J 1 1 3 * 4 .........
No of Gal 1st gu g Gs___1907 J-J
Guaranteed gold 5s___1938 A-O
Ore A Cal 1st guar g 6s. 1927 J-J
86*2 87
S A A A Pass 1st gu g is . 1943 J J
So P oi A r gu 1st g Gs.. . c l 909 J-J 101
1st guar g Gs.............. cl910 J -J 102 ......
S P oi Cal 1st g Gs C A H 1900 A-O
1st g Gs series E A P ... 1912 A-O I l l
1st gold Gs..................... 1912 A-O
1st con guar g 5s..........1937 M-N
S tam ped.......... 1905-1937 M-IM
S Pac of N Mex 1st g Gs.,1911 J-J
So Pac Coast 1st gu 4s g . 193 J -J
I'e x A N O S a b B iv lst gGs.191‘2 M-S
Cou gold 5s................... 1943 J-J 1 0 4 ..........
Southern—1st con g 5 s---- 1994 J-J 116 116-:
R egistered..................... 1994 J-J l l d 'I i ........
M ob A Ohio coll tr g 4 s .. 1938 M-S .......... Do
Mem Hiv 1st g 4 4 - 5 s ...1996 J-J 117*4........
97
..........
St Louis div 1st g 4 s ... 195-1 J-J
A la Cen R 1st g Gs....... .1918 J-J 113*2........
A tl A Danv 1st g 4 s___ ,1948 J-J
9 0 * i .........
2d 4 s ............................. .1948 J -J
A tl A Yad 1st g guar 4s. 1949 A-O
Col A Greenv 1st Gs....... 191G J-J 111*4 - - - E T Va A Ga Hiv g 5 s ..1930 J-J 113% . . . .
Con 1st gold 5s.............1956 M-N 116 " . . . .
E Ten reor lien g 5s........1938 M-S ..........11 4 l2
72 *4 S ale
Ga M idland 1st 3s.......... 1946 A-O
Ga Pac R y 1st g Gs.........1922 J-J 1 1 8 ^ 1 2 1
K nox A Ohio 1st g 6 s ... 1925 J-J
R ich A Han con g Gs___1915 J-J i l i \ 115*
Heb 5s stam ped.............1927 A-O 111 ......
R ich A M eek 1st g 4 s ... 1948 M-N
So Car A Ga 1st g 5 s___1919 M-N 107
Virginia Mid ser C 6 s ...1916 M-S 114
Series H 4-5s................ 1921 M-S 109*8
Series E 5s..................... 1926 M-S 111*4
General 5s..................... 1936 M-N U 0 5 s
Guar stamped.......... 1936 •M-N I 0 9 5s
95 l4
W O A W 1st cy gu 4 s.. 1924 F-A
W est N C 1st con g 6 s.. 1914 J-J 111
S A N A la tiee L A N
•Spok Palls A N or 1st g 6s. 1939 J-J
Stat IsL R y 1st gu g 4 4 s .. 1943 J-H
Syra B in g A N Y See H L A \V
jPer A oi St L 1st g 4 4 s .. 1939 A-O 107 58
X 1st con gold 5s___1894-1944 P-A 117
96
Gen refund s i g ^ s........ 1953 J-J
St L M B ge Ter gu g 5s. 1930 A-O i i o "
T ex A N O See So Pac Co
Tex A Pac 1st gold 5s....... 2000 J-H 1 1 8 58 Sale
85
95
2d gold inc 5s..................g-2000 Mai
La Hiv B L 1st g 5 s.......1931 J -J 103 ........
W M in W A N W 1st gu 5s ’ 30 P-A
Tol A O C 1st g 5s___ „ ___ 1935 J-J 11 2 113*2
W estern H iv 1st g 5 s ...1935 A-C* 110*2 113
General gold 5 s................ 1935 J-H 104 ........
97*4 98
Kan A M 1st gu g 4 s___ 1390 A-O
8 9 *2 S ale
Tol P A W 1st gold 4 s . . . . 1917 J-J
Tol St L A W p rlien g 3 4 s . 1925 J -J
88 *-4.......
50-year gold 4 s................ 1950 A-O ........ 82
Tor Ham A Butt 1st g 4 s ./t l940 J-H .......... 98
5 lister A Hel 1st con g 5s 1928 J-H
vJ 1st refund g 4 s.......... 1952 A -O
U n Pac R R A 1 gr g 4s ...1 9 4 7 J -J 103 Sale
R egistered.....................1947 J-J 102 Sale
1st lien g 4 s ..................... 1911 M-N
R egistered..................... 1911 M-N
Ore R y A N av con g 4s. 1946 J-H 1003s
Ore Short Line l s t g 6 s . . 1922 F-A 123*2 124
1st consol g 5 s.............. 1946 J-J 116 I l 6 5i
95 Sale
Guar refund 4 s .............1929 J-D
R egistered..................1929 J-D
Utah A N or 1st 7s.........1908 J-J 103 4
Gold 5 s . . . , ..................... 19*26 'J-J 108 4
Uni N, J R R A C Co tieeR uR R
Utah Central See R io Gr W es
Utah A N orth See U n Pacific
Utica A Black R See N Y Cent
99
Jandalia consol g 4s . ..1955 F-A
era Cruz A P l s t g u 4 4 s l9 3 4 J -J
97^4
Ver Vai Ind A W tiee Mo P
Virginia M id tiee South R y
V a A Southw’ t 1st gu 5 s .2003 J-J
1st gold 5 s....... 1939 M-N 114*2 Sal*
W abash
2d gold 5s..................1939 F -A lOO^s Sale
Debenture series A ....... 1939 J-J ......... 9G
Series B .......................... 1939 J-J
79 Sale
1st lien equip s f d g 5 s.. 1921 M-S 1 0 1 4 .......
1st lien 50 yr g term 4s. 1954 J-J
91 ....... .
Het A Ch E x t 1st g 5 s .. 1941 J -J 108 110
Hes M oin Hiv l s t g 4 s ..1939 J-J
Om Hiv 1st g 3 4 s ...........1941 A -O *......... 85
Tol A Ch Hiv 1st g 4 s ... 1941 M-S
92 Sale
St Chas Bridge 1st g 6s. 1908 A -O
Wa)b Pitts Term 1st g 4s. 1954 J-H
83 4 84
2d gold 4 s .......................... 1954 J-H
36 4 Sale
Warren tiee Del Lac A W est
Wash Cent Nee N or Pac
Wash O A W See Southern
W est Maryland 1st g 4 s ... 1952 A -O
85 4 8534
Gen A cony g 4 s .............1952 A -O
72
7 2 'fc
West N Y A Pa 1st g 5 s.. 1937 J -J 1 1 4 4 ........
Gen gold 3-4s................... 1943 A-O ......... 95^
Incom e 5a.......................<71943 Xo-v
West N o Car See South Ry
W Va-Cent A P l s t g 6 s ..1911
1 0 6 4 ___
W lieel’ g A L E 1st g 5s. ..1926
1124111
W heel Hiv 1st gold 5 s ..1928
Exten A Imp gold 5 s ...1930
R R 1st consol 4s........ ...1 9 4 9
89
20-year equip s 1 5s ...1 9 2 2
95 4
W ilkes A East See Erie
VVil A Sioux P See St P M A M
90 Sale
Win Cent 50-yr 1st gen 4 s .1949 J -J

\

I 13
IVec fc' $
Hantje or
Last tiale
Low

Hang*
Since
January 1

Uiati A o \Lo w Htgfi

129 4 N o v ’ 0 4 1

li8

106

I1

1t !)M0 . . . . 1 1 8

S e p *04

i'uT*

Jan »ol

102 Hi M a r ’ Oiv

vM>

6

105 \ Mar’i 6

107 A pr ’QG
10*2 Jan ’ 06
113‘q Peb ’ 06
114 4 D e c’ 04
1 19 .Jan *06
108°e J ’ ly ’05
105^ May’UO

102 4
80
104%
106%
102

102 4
90
105 4
107
102

113

113%

119

119

105

i06%

11 1 L4 Jan ’ 06
Lll*4 111*4
110 A p r ’06
no no
l l o y4 116
115 % 11 o %
116 J ’ly ’ 00
1)0 117%
95
95
12
94 4 98 4
119 4 J ’ne’ 00
IIS 1194
99%
98 4
9 8 H ‘ 1 67
113 J a n ’06
113 113
96 J ’ ne’ OG
98%
96
92 J ’ ue’ 06
92
92
1164 May’05
116 May’ UO
118 J ’ly ’06
114 4 114 4
72*4
72*4
122*4 J ’ne’06
1 2 2 % Apr ’ 06
112*6 J ’l y ’ 06
112*4 Jan ’06
98 P e b ’05
lo5 May’ UG
123 P el)’02
Dec ’04
110
113 D e c ’05
I l l 's May’ UO
109 4 May’06
9 7*4 May’05
1114 J ’ly ’ 06
100

J ’ l y ’00
N ov ’04

109
120
9 6
111

M
A
J
J

117

a
p
’i
’n

y
r
y
e

1 1 8 4
1 1
8 9
J ’l y
1 10
M a r
106
N o v
1 1 1 4J ’ l y
111
M a y
109 M a y
98
9
83 4
8
8 9 % M a y
8 1 4
8
99 4 N o v
1 1 0 J ’n e
93 J a n
1 0 2 -4

102

148
146 4
100%
124
116 4
9 6
9 6 4
105 4
LIO

’U
’0
’0
’O

G
6
6
G

S 56
’0
’O G
’0 4
’0 6
’0 4

’06

8
9 4
’0 6
2
’0 5
’0 6
’0 6

iu 3*4

102%

A p r ’0 6
A p r ’0 6

1004

J ’l y ’ 0 6
J ’l y ’ 0 6
9 5 %
D e c ’0 5
J a n ’0 6
J ’ l i e ’06

102% F o b ’06
101% N ov’ 05

114*4 1 1 6

116
1134
72*4
121
122*4
112%
112%

119%
1164
72*4
123
1224
116
112%

105

1084

114 1144
109 4 1 1 4 4
111*4 1 1 4 * 8

109
119
96

111

112
120%
100%

111

118 124
89 102
108*4 n o
i l l 41154
i*07 * i 0 9 "
95% 99 4
89 4 93%
89
90
80 4 8 4 4
110

113*4

93
93
197 102% 106%
67 101*4 106%
146*4 160*4
146 4 149%
9 99 4 102
118*4 126
114% 119
106 94% 97 4
10541054
no
no

102% 105

108 114
112 4 A p r ’ 06
1144 114% 13 1 1 2 % 1164
106% 105% 42 104 109
97% J ’ ne'oo
87 4 98
77%
79 309 72 4 80*4
102 D e c ’05
93
93
93 Mai ’ 06
108
no
110 J ’ ne’ 06
97 N ov’ O-i
84
85 4 May’06
85 4
92
92
92
94
109 4 Mai*’ 03
84
84
3 8 2 % 90 4
36*4
36% 45 34% 41%

SS%
85
85 4 23 84
69
76%
72 J ’ly ’ 06
1T0% 118
116% May’ 06
34 1 97%
95 May’ 06
30
31
30 May ’06
103 109
109 J ’ne’ OG
112 114
112 J ’ne’OG
i 2 2 4 1124
112 4 Peb *0o
111 4 A ug’ 05
88%
8t% 13 8 / 4 9 3 4
102*4 D e c’05
89 4

90

2511 SO

95

BON L)S— C o n c lu d e d .

l\
JliKcellaneouH
Cent l a t h e r 20-year g os.1925 A-O
99% Sale
99%
99% 39 96% 1 0 2 4 Adams Ex col tr g 4 s .........1948 M-S 103 4 ......... 103% 103 4
5 {l02 104%
Consol T obacco 50-yr g 4s. 195 P-A
77
78
1 77 m 83% Am Dk & Im]) os tiee Cent N J
774
78%
6
P-A
7^% 73% Am SS Co of W Va g 5 s .... 1920 M-N
78*4 Mar’OG
97 4 ........ 100% J ’no’02
D istilS e^ C orcon v 1st g 5s . *2 A-O
46 4 68
90
85 4 80
B ’kl’ n PerryCo 1st cons g 5s ’48 'P-A ......... 47
47 J ’no ‘ 06
854
86
33 I 81
In i Paper Co 1st cou g Os.191 F-A
108 J ’ iy ’05
107% 1104 (JJnc Jc A S i Yard col g os. 19/15 J-J
....... 109% J ’l y ’OG
Consol conv s f g 5s....... 1925 J-J ........ 94% 94%
j 70
*78
70 Muy’OU
94 4
JJet M <&51 Id gr in com es.. 1911 A O
8- 1 94 4 1 0 0
In t "St 1*u mp l< /yr conv. 6s
................ — . . . . . . . . . . . .
J-J 101 ........ 104% J’l y ’ OG __ 101%104% Hoboken L A I gold 5 s ... 1910 M-N
K m ck er Ice (C hic) 1st g 5s.
•A-L) ' ........ H>0
........ ..........
. . . . . . . . . . . . Mad Sq Garden l s t g 5s. .1919 M-N
97 4 Oct ’ 05
.. ••••••••
Lackaw .steel 1st g 5 s ___ 192.J A-O 103% 104 4 104
104
50 Beb'O*. . . . . ...................
18j 102 4 108% Man Bch 11 A L gen g 4 s.. 1940 M-N
N atstarci; M l.gC olst g6a 1920 M-N ......... 90
85
9 3 4 Newp N o Ship A H D o s d l9 9 0 J-J
. . . . . . . . . . . . . ___ 1
90 May’ 06
K*at
i»,S
J-J
75 ........ 76
91%
91% io| 94
77
V•>
2 73
X Y Hock 50-yr 1st g 4s.. 1951 F-A
94% Sale
Stall Rope 6c i 1st g G s... 19-16 P-A . . . . . . . . . . . . 15 D e c ’ 05
99
•j9 M ay'06 . ..] 99
Provident Loan Soc 4 4 s . 1921 M -S
lnoetutt gold l s ............... 194.......... 1UU
UJl
...................
...... ......
1% M.tr’ OG . . . .
14
2 M St JosephStk Yds 1st 4 4 s . 1930 J-J
U s Leoth Co s f deb g 6 a .. 191-31: »1-N Hw 109% 109*8 J ’l y ’06
:<;7 109 4 St L X’er Ounples Stat’ n A Prop
............
U S Realty A I conv d*<b g 5s ’21 ' J- J
93
99 4
90 4 93
03
Co 1st g 4 4 « 5-20 y e a r.. 1917 J-D
V • >teei CorplU-60 yr5s.cP6; •M-N
m^mmm112 j ’ iy ’0 1 . . . . ........ . . . . . .
97 4 Sale
97
9 7 4 xctij 95 H lOO
-> Y uba Wat Co con g Gs..) 923 J-J
R egistere/i............. \pril 196 [M-N ........ 98 4 97 4
113 4 j ’ ly ’00 ....
9?%i A S.>\ 100 4 Sp Val Wat W orks 1st 6s. 1906 J-S
Va-Car Cliern col tr 5s nr..l 9 1 : |A -O
95 103
99 4 ........ OH4 DttO’OGl - 1 9 8 4 1014 u S Red A Bqf 1st s t Gs. f931 —
................... 99% J ’l y ’ OG XL
* N o price L riday; late st bid and asked th is w eek, a Hue Jan 6 B u e V e U #D u e M ay ^/H ucJ'ne / tH u e J ’ly p D iivL icrr «Gptiou Sul®

CHICAGO STOCK EXCHANGE— Stock Record-Daily, Weekly and Yearly
S'l OCRS— H 1(J H hS T A N D LOW EST S A L K P R IO K 8
Saturday
J u ly 14

160

175

*6
6S.
*22
24
40 % 4 1*4

M onday
J u ly In

*160
*6
*25
418

175
68
27
42%

67
*67
58
♦66
*87 78 89
* 8 7 8 89
*26
27
26 8
*26
69%
*66
69% *66
*29
34
34
*29
*
26 L
25
*24
66
*64
66
*64
96
*94
96
*94
&28% 28% *28
28 8
*97 100
*97 100
29
*26
29
*26

Wednesday
J uly 18

7 uesda v
J u ly 17

*160

175

*6 8
*22
42 8

*6
*22
418

68
24
43

6\
24
42 8

57
*55
*8 78 89
2 6 8 27
*67 8 698
*29
34
25
*24
*64
66
95
958
29
28
99 8 998
29
*26

*67
58
88
89 8
*26
26 8
*66 8 69%
34
34
*24
25
*64
66
*96
96
*28
288
*97 100
*26
29

L a s t S a l e 167^ J ’ne’06

175

*160

F rid ay
J uly 'JO

Thursday
J u ly 19

Last Sale
La s t S a l e
4 1 8 43
Last Sale
Last Sale
*55
568
* 8 7 8 89
27
27
Last Sale
34
34
Last Sale
Last Sale
*96
97
*23
29
"98 100
Last Sale

6'8
J'ne'06
J4
J ’ne’06
43
45
4
J ’ly '0 6
15
J’ ne’06
568
58
88 8
88 3
28
28
70
J ’ne’06
*32
34
25 8
J ’l y ’06
6'7
J ’ne’Oc
*95
97
*278
28
-98
100
25 8
J ’l y ’ 06

6%
6%
6^0 6%
638 6 8
6%
6%
6%
6%
68
68
52 8
52
53 % 5 3 14
5238 53
52
628
538 638
5 1 8 52 8
*117 120 *117
*117 120
120
119 119
117*4 119 *118 120
L a s t S a l e 130
*130 134 * 130 134 *130 134 *130 134
J ’l y ’06
65
65 8
63
648
65 8
658
6 4 8 648
108
107 107
107 107
*106 108 *106
27
*26
27
27
27
*26
27
27
39
L a s t S a l e 39
J ’ne’06
39
*33
39
*38
39
*38
*38
L a s t S a l e 110
J ’l y ’ 06
*110 112 *110 112 *110 1L2 *110 112
58
L a s t £>alt 58
*56
*56
58
*66
*56
58
58
J ’l y ’06
L a s t Sa le 175
May’ Oo
L a s t S a t e 16
Mar’06
J ’ne’Ob
*1
*1
*1
*1
18
18
1%
18 L a s t Sale l
68
* 6 l4 6 8
68
A p r ’ 06
"6 % 6 8'
68
*6 8
*68
L a s t S a l e 740
J ’l y ’ 06
*135 140 *138 140
*135 140 *135 140
49 34 51
*48
50
-48
oO
*115 119 *115 119
119 119 *115 119 *115 119
118
119
1088
1106% 108 *10 6 8 108 *1 0 6 8 1 0 8
1088 1088 -107 1088 *107
119 119 8 119 119
i 19
119% 119% 1198 1198 l i 9
1188 1198
47
48
46
48
48 8 48%
*45
43 8
48 8
48 8
L a s t Sai<. 31 8
N ov’ 05
L a s t S a l e 8u
F eb ’ 06
L a s t S a l e 17
J’ne’04
L a s t Sal 9
D e c’04
L a s t S a l e 46
J ’l y ’ Ob
L a s t s a l e 7%
J ’l y ’ 00
*21
22
21
21%
21
21
21
21
2 1 8 2 18
64
65 8 65 8
63 % 6 3 8
64
65 8 66
65 8
65%
6 5 8 66
*117 118
117 8 117 8 *1 1 7 8 118
*117 % 118
117 8 117 8 *1 1 7 8 1 1 8
L a s t S a l e <598 J ’l y ’ 06
*8134 88
*8 18 88
*81% 88
*81% 88
120
i2 o
*117 120 *117 120 *117 120 *117 120 *117 120
L a s t Sale 58
May’05
102**4 103
*125 132
*10Ho 103
18
*138
9*2 9 8
33
*31

7*4

8

103

103 8

103

103

*13s 1 8
*98
98
33
*31

8

1 0 3 8 1038
130 130
*1 0 1 8 1 0 3

1038 1038
130 135
1 0 2 8 103
*18
98
32

*1-8
18
*98
98
328 328

88

78

L a s t S a l e 89:is
L04 104
104
*130
*102
L a s t s a i t 105q
*i %
18
9 8 10
30
33

18
98
32

88

Last
Last
Last
8
Last
Last
Last

Sale
Sale
Sale
8
Sale
Sale
Sale

1%
98

o%
36
298
8
15 8
85 8
7%

J ’l y ’06
i0 4 8
135
103
D e c ’ 04
18
10

P rice
PYlday
J u ly 20

WeeJds
Range or
Last Sale

K ail roa d *
Chic City B y ..............100
Chic Pass B y
Chic fa Oak Park
10b
Do p re f............... 100
Chicago ‘Subw ay....... 1 0 0
Chic Union Tract
100
Do pref.
100
Kans City liy fa L t .. 100
Do p ref............... 100
M etropol W y E le v .. 100
Do p ref............... 100
North Chic Street___100
N orthwestern Elev 1 0 0
Do pref............... 100
South Side E le v .........100
Streets W Stabie C L 100
Do p re f............... 100
W est Chic Street. _.10o
M isce lla n e o u s
Am erican Can............ 100
Do p r e f..............100
Amer Radiator......... LOO
Do p re f............... 100
Am er Ship bldg .
100
Do pref
100
Amer Straw Board
Booth (A ) oo C o ........ 100
Do p ref........
lOo
Cal fa Clue Canal fa D100
Central T rust Bank 100
Chicago Auditorium .
Chic B rew ’ g & M alt’ g ___
Do p r e f...
Chic Edison
........ 100
(Uhic Pneum atic Toni TOO
^hic T e le p h o n e .........100
OiifC Title fa T r u s t... 100
Diamond M atch.........100
Illinois Brick .
100
Knickerbocker 1c,e
10»J
Do pref
100
London & Chic Contr
.Yfannfact,nrers’ Fnp.l _
Masonic Temple
M il & Clue B rew ’ g
Do p re f.......
N ationaf B iscu it.......100
Do p ref............... 100
National C arbon ....... 100
Do p re f............... 100
Page W oven W ire Fe.netDo pref
People’ s lia s L fa O’kel 1)0
Sw ift fa Co...................100
The Quaker Oats Co 100
Do p re f............. 100
Union Bag fa P Oo
1(10
Tin nref
100
U nit’d B ox Bd & P COlOO
Do p ref............... 100
W estern Stone______100

M ining
Mar’06 Adventure Con............25
Mar’06 A llou ez...........................25
J ’ne’Ob Bingham Con M in in g .50
8 Black M ountain............. .
J’ ne’06 D a ly -W e st.................... 20
F e b ’ 06 No B u tte....................... 15
J ’ne’06 S h a n n on ....................... 10

Lowest

F-A
J-J

Bid

A sk Low

Highesj

Lowest

Highest
\

155

M arl6 200

6 May 2
22 A p r i l
3,97* 398 J ’iy 13
4 J l y 12
12 8 M.ajC8
36o 5 4 8 Jan 2
332 87% J ’ ly 1
71 26 Mar 3.
66 Apr 30
15 25 M arU
24 May o
60 May 23
11 89 8 Apr 3
211 27 May] 8
15 98 Jan 26
23 A pr 10

Jan 205

Jan 5 180

6 J ’ ne28 11% Jan 20
8 8 Dec
881
597 51 J ’ly 13 72 Jan 25 60 J an
177 115 Feb 9 129 May 2 9 76 Jan
130 May 11 L36 Jan 17; 125 Feb
2,170 54 Jan 13 6 5 8 J ’ly 20 , 3 8 Jan
15 101 Jan 11 1098 A pr 4 j 98% Jan
205 17 Feb 28 -'8 A pr 24
36 Jan 23 40 Feb 6 35 Oct
108 Jan 25 1 1 3 8 J ’ ne 2 105 Mai
55 May 2 6 64 Feb t. ! 50 J’ ly
168% M aylS 175 May 31 1 4 8 8 Feb
16 FeOLi 16 8 F e b 23 10 J an
1 Mar 6
1 Mar 6i
8 J’ nt
6 14 Mar23
7 Jan ] 6
6 J ’ne
140 T’ly 2 165 Feb 15 153 Jan
30 49 May 2 63 Feb 9 i 32 Jan
65 l o l A pr 2 7 139 Jan 15 ,125 May
25 103 May 3 118 Jan 9, i 95 Apr
511 118 J ’ne 6 147 B'eb 7 134 8 Feb
297 44 J ’ne26 7 1 8 Jan 23 55 J’ ne
11 Feb
79 78 Feb 23 80 Feb 2b I 63 Feb

14% Apr
73 8 A pr
110 Deo
134 Deo
598 Sep
105 8 Mar
40
112
70
150
10
1
7
172
588
143 8
118
145
67
42
75

Jan
Aug
Oct
Mar
Jan
Jen
Jan
Feb
Dec
Feb
Dec
Aug
Nov
N ov
Oct

May 2 2
May29
J ’ne2b
May 2
Jan 4
Jan 5
Feb 21

478
28
23
71
1188
95
1228

Jan 31 4 4 8 Mai 4 8 8
2 Jan
28
Feb 3
Mar 7 19 Sep 23
Feb 6 5 2 8 Aug 6 7 8
Feb 5 1108 Aug 120 8
Mar 3 41 Jan 80 8
Mar 9 110 Jan 120
5 Api
58

Aug
Oct
Oct
Dec
Mar
Dec
J ’ ne
May

88% J’ly l o
1,066 1018 Jan 17
93 115 May 16
165 101 May 8

93 8
109 8
152 8
1068

May 17 99% May
Mar 12 101 Dec
Jan 5 46 Jan
Feb 15 8 6 8 Jan

Apr
Jan
Dec
Nov

397
1,052
64
lo o

46
18
21
62
1138
78
115

Oct

4 J ’ lv
7 8 Jan 17
7 8 Jan
28% Jan 2 , 16 J ’ly 28 Dec
50 Mayl7 40 Oct 878
1 3 8 Feb 20
6% J ’ne 13% Feb
46 8 Mar 12 j 26 “ J ’ly 51 “ Feb
68 8 Feb 9, 30 J ah 60 Sep
9 3 8 Feb 8 82 8 J an 93 8 8ep
30 J ’ne 8 20 J an 28 8 Oct
72 % Jan ) 3 59 8 Jan 73 8 Sep
85 Mar 12 1 55 J ’ ly 99 Feb
28 8 Feb 2.; , 21 Ma\ 26 Deo
68 8 Mar 1 60 Mar 08 Oct
99 J’ ne \ | 90 % ila ) 100 Ang
3 0 8 Mar 2 1 27 Aug 30 &ep
102 J ’n elo t 96 Dec 1038 Mar
60 Feb 19 ! 40 J ’ne 72 Feb

125
1,005
150

1% J ’ne28
2 8 Jan 12
8 8 J ’ ne2b 1 7 8 Jan 20
3 1 8 J ’ly 11 42 Mar27

1,6‘i o

58
368
298
78
148
85 8
6

Mar 7
Mar 7
J ’ nelb
J’ ly 14
Mar .
Feb 23
F e b 24

*3
r3 I>

Range
Since
January 1

N AM E

68
368
448
148
158
858
7%

1108
114
165
109 8

1% J ’ly
8 Aug
23 Feb

2 8 A pr
16 Dec
41 Aug

Feb2b
Mar 7
F eb 2 1
M ar29
Feb&O
F e b 23
J ’ne 16

Outstand­ Surplus dr
In
ing
Profitst
1904
Stoc/cf

Bankers N a tio n a l....... $2,000,000 $1,144,581
100,000
£34,163
Calumet N ational.........
120,146
500,000
9 9 % ____ 99% May’06
99% 1008 Chicago C ity.................
£74,034
k 500,000
J -J
102 8 May’OO
102 8 1 0 3 8
J-D . . . . . . 1 0 1 8 101 M ar’06 . . . . 101 101
Commercial N ational.. £2,000,000 1,945,216
Continental N ational.. 4,000,000 2,182,328
103 A p r ’ 64
J -J
3,159
50,000
J-D t ........ 55
Cook Co State Savings
65 J ’ ne’06
65
55
Corn E xchange N a t... 3,000,000 4,041,254
J-J U 0 0 103 104 Jan ’06
104 104
18,702
200,000
A -0 ........ 102% 102 J ’ne’06 . . . . 102 1038 D rexei State.................
302,421
9 6 8 J a n ’ 06 •»• 9 6 8 968 D rovers Dep National
600,000
F -A ........ 100
27,740
200,000
Englewood S t a t e ........
A -0 . . . . . . 98
64,825
500,000
87 F e b ’06
Federal N ational........
A -0
87
87
First N a tion a l.............. 8,000,000 6,454,820
J-J
126,606
82
82
100,000
J -J
1 80
First N at E n g lew ood ..
30
82 Sale
641,898
500,000
79 N ov’ 04
Foreman Bros B ’k’ g Co
M-N
3UU,751
80 A p r ’04
Fort Dearborn N at___ 1,000,000
M-S
168,071
500,000
5 103 105% Ham ilton N a tion a l___
M -S
103 103 8 103 8 103 8
Hibernian B ’k’ g A ss’n 1,000,000 1,120,65
93 J ’ne’ 06
J-D
9 0 8 95
57,025
200,000
99 8 J ’ne’06
M-N .........100
99 8 1008 Kaspar State B ank___
300,389
250,000
99 100'
99 J ’l y ’ 06
M ilwaukee A v e State.
A -0
99 100
17,237
200,000
M onroe N ational........
J-J
95 8 Sale
95 8
95 % 9 9 5 8 100
59,865
16 May’ Oo
250,000
M utual B an k ...............
Feb
F A 9 1 8 93
91%
918
N at Bank of B epublic. 2,000,000 1,062,272
5 9 1 8 95
86 J ’l y ’06
National Live S to ck ... 1,000,000 1,310,831
86
87
86
89
J-J
5.744
50,000
90 M ar’06
N orth Side State S av..
J -J
90
90
27,358
100,000
90 F e b ’ 06
Oakland N ational.........
J -J
90
90
64,16250.000
A-0 . . . . . . 85
95,755
250.000
9 2 8 F eb ’ 06
M-N t ........ 85
9 2 8 9 2 8 Prairie State.................
210,032
300,000
91 Sale
91
9 1 8 41 91
M-S
948 Pullman Loan & S av..
47,280
200,000
M -N
94
95
94
94
5 89 1008 South Chicago Savings
801,667
J-D 1 0 0 8 . . . . . 100 8 Mar’06
1 0 0 8 1 0 0 8 State Bank of Chicago. 1,000,000
136,49k
250,000
M-S
9 9 8 ........ 9 9 8 J ’l y ’ 06
9 9 8 99% Stock Yards Savings ..
30,859
200,000
U nion Bank of Chicago
M-N
99% 100
9 9 8 ........ 100 J ’l y ’ 06
31,895
200,000
100 ........ 100 A p r ’ 06
Union Stock Yds State
M -N
100 100
Am er Trust & S avgs.. 3,000,000 2,299,527
120 120
A-0 *115 120 120 A p r ’ 06
915,123
105 A p r ’06
M-S ........ 103
1048 105% Central T rust Co of III 2,000,000
544,548
600,000
106 J ’ i y ’06
Colonial Trust fa S a v ..
J-J ........ 106
106 108
57,753
200,000
J-D ........ 1 0 7 8 104 J ’ne’ Ob . . . . L04 105% D rovers Trust & S av..
1 0 3 8 F e b ’06
M-N
1 0 3 8 1 0 3 8 First T rust fa Savings 1,000,000 1,278,889
J -J 102% Sale 1 0 2 8 1028 " 2k 102 105% Illinois T rust fa S av.. £4,000 000 7,070,563
49,61b
250,000
J-J t 1018102% 102 8 J ’ne’Ob
1018103% Jackson Trust fa S av..
24,941
200,000
A-O
99 1018 102 8 J ’l y ’06 . . . . 1 0 1 8 1 0 5 8 K enw ood Tr & Savings
5,382
200,000
114 N ov’04
L ive Stk T r fa Sav Bk.
M-N
66
66
M erchants’ L ’ n& Tr Co 3,00p,000 3,873,390
66 Sale
5 65
68
318,901
750,000
M-N ........ 9 3 8 92 J ’l y ’ 06
80 1018 M etropolitan Tr fa Sav
N orthern T rust Co Bk 1,500,000 1,527,543
68 8 S e p ’ 05
F -A
44,936
200,000
Peoples Trust f a S a v ..
J-D
60
7 2 8 72 J ’l y ’ Ob
60
85
491,64
500,000
70 J ’ne’06
M-N ......... 70
55
848 Royal T rust C o ............
749,36 1
90 8 May’06 . . . . 89 8 95 8 Union Trust Co............ 1,000,000
J -J ......... 90
264,58s
96 8 J a n ’ 06
A -0
9 6 8 9 6 8 W estern Trust fa Sav. 1,000,000
6,593
200,000
W Side Tr fa Sav B k ..
21,139
200,OOu
W oodlaw n Tr& Sav Bk
N o te ,—A ccru ed interest mus t he added to all C hicago bo nd price s.
UDividends are paid Q-J, w ith extra payments Q-F.
Includes special dividend of 30% declared A ug. 10, 1904,
t June 18, ’ 06 for N ational Banks and June 19, ’ 06 for State institutions. £ A s of Apr. 6, 1906.
* B id and asked prices; no sales w ere made on this day.
$ No prioe Friday; latest price this week.
aD ue Deo. 31.
b Due June,
h Due July,
£ Capital and surplus to be increased.

Am er B iscuit 6 s ................ 1910
Am er Straw board 1st 6 s.. 1911
Cass A v e fa F O ( S t L ) 5 s .1912
Chic Board of Trade 4s ...1 9 2 7
Chic Consol Br & M it 6 s ..........
Chic Consol T rac 4% s........1939
Chic Edison debent 6s___1913
1st gold 5 s ..................... £1926
Chic A uditorium 1st 5 s ... 1929
Chic B ock Co 1st 4s.......... 1929
Chic N o Shore E lec 6s___1912
Chic M il E lec B y 5s ....1 9 1 9
Chic Pneum T ool 1st 5s .&1921
Chic B ock I fa P ac B B 48.2002
Collat T rust g 5 s ............1913
Commonwealth E lect 5s.b 1943
Illinois T unnel 5 s ............ 1928
Kane City B y & L t Co 5s. 1913
K m ck erb ’cker I c e 1st 5s. 1928
Lake Street E l 1st 5 s....... 192b
Inoom e 5 s ........................ 1925
M etr W Side E l 1st 4 s .... 1938
E xten sion g 4 s................ 1938
N orth Chic St 1st 5s.........190b
1st 5 s .................................1909
B efu n dm g g 4 % s ........... 1931
N o Chic City StK y 4% s.l9 2 7
N orth W est’n E l 1st 4 s ... 1911
Ogden Gas 5 s ..................... 1946
Pearsons-Taft 5s.............. .1916
4-40S..........................................
4°60s Series E .........................
4-80s Series E .........................
People's Gas L & 0 1st 6s. 1943
R efunding g 5 s .............. 1947
Chic Gas Lt<& C 1st 5 s ..1937
Consum ers’ Gas 1st 5 s.. 1936
Mutual E uel Gas 1st 5s. 1947
South Side E lev 4 %s.........1924
Sw itt fa Co 1st g 5 s .......... 1914
U nion E l (Loop) 5s.......... 1945
U nion Pacific conv 4 s ___1911
United B ox Board 6s...............
W est Chic St 1st 5s.......... 1928
Tunnel 1st 6 s . . . . .............1909
D ebent 6 s ........................ 1914
Consol g o s .......................1936
W est D iv City B y 4 % s..l9 3 2
W est’rn Stone Co 5-20 os. 1909

Range tor Previous
Year (1905)

Range lor Year
1906

Chicago Banks and Trust Companies

Chicago Bond Record
BOiNDS
■go
C H IC A G O STOCK E X C K ’ G L
W e e k E n d in g J uly 20
14

Sales
o/ the
Week
Share*

SSTOCKJS
C H ICAG O STOCK
EXCHANGE

H igh No. Low H igh

8
-8 + 5
12
8
6
12
6
8

Dividend Record
In P er­
1905 iod

L ast P a id
%

8
Q-J J’l y ’ 06, 2
N one J -J J ly ’06, 5
10
J -J J’ly ’06, 5
12
8
6
12
6
8
....

Q-J
Q-J
Q-J
Q-J
Q-J
Q-J
....

J’ ly
J ’ ly
J’ly
J ’ly
J’ly
J ’ly
J’ ly
Oct
J ’ly
J'ly

’06, 3
’06, 2
’ 0 6 , 1%
’06, 3
’ 06, 1%
’06, 2
’ 06, 1%
16, 1905
’06, 3
’06, 2%

Begau busin ess
12
1112 Q-J
10
6+4
Q-J
P riv ate Ba nk
6
6
Q-J J’ly ’ 0 6 , 1%
8

8

J -J J’ly ’ 06, 4

6
J-J J’ly
6
Succe d.Mfrs ’ Bk. Mar.
Begau busin ess Oct
6
Q-J J ’ly
6
12+3 12+3 Q-J J’ly
Q-J J'ly
6
6
J-J J ’ly
6
6
8
8
4
8
N one
Began M ay 1,
_
N one
8
7
5%
4
5+ 5
5
6
6
’1138
8
5
6

12 + 4
N one
Began J an 3.
Incor porate
12
12
6
6
8
8

12+4

6

....

6

....

’06., 3
5, 1906
2, 1905
’06, 1%
’06, 3
’06, l%
’06, 3

J ’ly
J ’ly
J ’ly
j ’ly

’06,
’06,
’06,
’06,

2
2
1%
2

19< ■5.
Q-J J ’ly
Q-J J ’ly
Q-J J l y
Q-J J’ly
Q-J J'ly

’ 06,
’06,
’06,
’06,
’06,

1%
2
1%
2%
1^

Q -j
Q-J
Q-J
Q-J

11 J ’ly ’06, 3
190
d M
Q-J
J -J
Q-J

5
areh,
J’ly
J’ly
J’ly

1905
’06, 3
’06, 3
’06, 2

F -A Feb ’ 06, 3

__

Q-J J’ly ’06, 2%
6
6
Began busin ess Sep 5, 1905
—
....
Q-J J’ly ’09, 1%

J u l y 21 19U6.]

THE

C H R O N IC L E

Volume of Business at Stock Exchanges
T R A N S A C T IO N S A T T H E N E W Y O R K STOCK E X C H A N G E
D A IL Y , W E E K L Y AN D Y E A R L Y

Stocks

Week ending
July 20
l*i/6

Par value

STiares

Total

Bonds

US
Bond*

$ 2 0 ,0 0 0

$19,125,200
57,142,600
35.511.000
35.594.300
29,897.800
74.862.700

$•485,000
1.655.500
1,087,600
850.000
1.211.500
1,044,000

$132,000
137.000
128,500

2,922.421 $252,133,100

$6,333,500

$675,000

210,052
660.501
417,910
412,143
S39.063
882,152

Saturday ...
M on d a y . . . .
T u esd ay. . . .
Wednesday.
Thursday...
Friday . . . . .

Stats

R ailroad Ac
Bands

Sales at
New York Stock
Exchange

Week ending July 20
1906

1905

1 0 2 .0 0 0

136.000
39,500
$ 2 0 ,0 0 0

January 1 to July 20
1905

1906

147,182,995
153.088.197
2JL03.095
2,922,421
S tocks—N o, shares
Par va m e........ $252,133,100 $198,912,000 $14,008,017,609 $13,677,639,475
$330,600
$522,700
$23,500
Bank shares, par..
BONDS
$316,900
$1,260,000
$6,500
$20,000
Governm ent bonds
43.934,150
108.533,550
2.769,000
675.000
State b o n d s ........
515,242.900
363.445,800
8,367,500
6,333.500
B R. and nils, bonds
Total bonds----

$7,028,500

$11,143,000

$418,639,950

$624,093,350

D A IL Y T R A N S A C T IO N S A T T H E BOSTON A N D P H I L A D E L P H I A
EXCHANGES
Week ending
July ‘20
lu o s

P h ila d elp h ia

Boston
Unlisted
shares

Listed
shares

Bond
sales

Listed
shares

Unlisted
shares

Bond
sales

11,424
17.175
20,69 7
15.176
14,545
26.125

3,32 5
9 ,0 '0
8,972
7,854
7,934
8,991

$27,000
7,000
32.000
43.000
6,500
17.000

4,830
14,366
21,310
20,447
16,983
23,647

4,307
8,155
5,606
3,105
3,541
6,869

$12,400
68,700
49.500
60,000
33,750
80.500

T otal.......... 105,142

46,156

$132,500

101,5S3

31,583

$304,850

S atu rd a y .......
M o n d a y .........
T u e sd a y ........
W edn esday. .
Thursday.......
F r id a y ...........

Outside Securities
A W eekly Review of Outside M arket loill be found on a p reced in g page.
S tr e e t R a ilw a y s

G a * S e cu ritie s
IndlnuiipoliH G as.........50
1st g 5s 1952.......... A-O
Jackson Gas 6s g ’ 37. A-O
Kansas City G as.........100
Laclede G as.............. 100
1] Preferred .............. 1(M
Laray'eG asl8t 6s’ 24.M-N
LogA W ab V 1st 6s*25.J- 1
Madis* n Gas 6s 1926. A-O
N ewark Gas 6s 1944.Q-J
Newark Consol G as..lO (
fiC o n g 5 s 1948....... J-L
No Hudson L H A P o w 5s 1 9 3 8 ..................... A-O
O A In d C N a t So 111 .10<
1st 6s 1926..............J -l
Pat A Pas Gas So EleolO*
fi Con g 5s 1949___M-ir
St Joseph Gas 5s 1937. J-J

14 5

hid ti s ir ini and
Hid
Ask
Consol id Car Heating 10**
CO
65
11Cons Firew ’ ks com .100
20
40
101
HPreferrod................lo o
60
70
45
Cons Ry Lt gA Refrig. 100
5
6
100
Consol Rubber T ire .. 1On
Ik
l 3i
100
P referred ................. lo i
97 k
7
12
43
38
Debenture 4s 1951 AAO • • • • • • 23
34
38
s
Cons Storage Battery 1011
§103 4 107 k Corn Prod Ref See Stock Exch ist
§133 134
Cramps' Sh A En Bldglo*
1H
21
90
91
IC rucible Steel.......... 10*
10k 11
108 110
75
HP referred................ 10*
75 k
104
Cuban 6s of 1896............. 101
§108
HDiamond M atch Co. 100 n s
119k
2
5
Dominion C o p p e r ........ 1
*ie
6ie
25
30
Douglas C o p p e r .............5 • 4
6
74
20
68
Electric Boat.............. 10*
25
60
§100
104
70
P re fe rre d ..................100
10
91
87
12
Electric V eh icle.........100
14
17
P re ferred ..................100
4
8
Empire Steel.............. 100
T e le g r Sc T ele p h o n e
36
42
P re ferred ..................10*
74
91
89
79
[A m erT eleg So Cable 10*
HGeneral Chemical ..10*
150
fCentral A So A m er. 10* 140
11P referred................ 100 102 104k
Commer U n T el (N Y ).2 ; 119 123
Gold Hill C o p p e r......... 1 [ 2 k
27a
78
20k 21
Emp So Bay State T el 101
Greene Con C o p p e r ...lo
53
47
F ra n k lin .......................10*
Greene Consol G o ld ... 10 t 2 k
2k
119 123
fiGold A S t o o k .......... 10*
Greene G old-Silver.. ..10 \ l Gb
lk
90
85
G uggonhoim E xplo’ n. 100 205 220
Hudson R iverT eleph 10<
125
135
H ackensack W ater Co —
N Y A N J T e le p h ... I d
94
R ef g 4s 52 op 1 2 ...J-J § 92
N orthwestern T eleg. 5* 120 125
90 LUO
85
80
Hall Signal C o .......... 106
Pacific A A tlan tic....... 2c
17
[Southern So A tlantic 21 100 103
Havana T obacco C o ..10*
18k
25
33
P referred...................106
66
70
1st g 5s June 1 ’22. J-D
E le ctric C om p a n ies
H ecker-Jones-Jew ’l Mill
Chicago Edison Co See ( hi cage list
1st 6s 1922.............. M-s 106 110
25
35
K ingsC o E l L A P Co 1 0* 140" 150
H er’ g-Hall-M ar.new.lOO
Narragan (P rov ) El Co 5* f 97 4 103
H oboken Land A Im plO t 200
50
N Y A Q El L A Pow C olO i
45
H5s 1910..................M-N §102
70
60
7k
P re ferred .................. 10*
Houston O i l ................ 100
8k
25
45
65
United E lectric of N J10*
P re fe rre d ..................100
125
135
4s 1 9 4 9 ...................... J -l i 72k 72 k Hudson R ealty.................
85
95
Ingersoll-Rand pref.. 10*
150
Internat’ lBankingColO*
F e r r y C om p a n ies
9 k 10
ln t’n ’1 M erc M arine. 10*
25 k 25 k
l1
P re ferred ................. 10*
Brooklyn F erry stocklO*
242
76
76k
Col tr deb 4 k l9 2 2 o p ’ 01
B A N Y 1st 6s 19.11.J-J § 98 102
33
34
70
65
International Salt___106
N Y A E R Ferry s t k .106
60
66
90
1st g 5 s 1951..................
1st 5s 1922............ M-N
5
9
N Y A H ob con 5s ’46.J-l. § 108 k 109 k International Silver. 10*
48
53
P re ferred ................. 10*
Hob Fy 1st 5s 1946 M-N §109 110
1st 6s 1948................J-D §107 109
X Y A N J 2d 5s 1946. J-J §1.05
60
65
45
6 i)
Lackawanna S te e l... 10*
10th A 23d Sts F erry 106
90
14k
Lanston M onotype.......20 t 14
1st mort 5s 1 9 1 9 ...J-D § 80
30
26
Lawyers M ort insur.106 186 190
■[Union Ferry stock .106
50
60
HLeh A W ilkesb Coal. 5*.
Hist 5s 1920 .......... M-N
92 4
120 130
Lord A T a y lor............10*
R a ilr o a d
P r e fe r r e d ..................100 100 L03
HLoriilard (P ) pref ...1 0 6 130 155
Chic Peo A St L pref. 106
71k 72
5
2
Deposited stock ........
M aek iy Companies ..106
71
71k
5
P re fe rre d ..................lo t
U ndeposited sto ck ...
2
15
25
95 100
Prior lien g 4 k s ’ 30M A s
Madison Sq G arden.. 106
75
80
2d 6s 1919.............. M-N
Con m tg g 5s 1930.JAJ
5
7
7
12
HManhatt Beach Co. 106
Incom e 5s 1930..........
2 7a
42 4 43 4 Manhattan T ran sit___20 f
Chic Subw ay............... 100
13
17
M ex N at Construe.pf 100
IIFort W orth A Denver
k
85
M ine S e c u r itie s .......... 5 t 3ie
City stam ped.......... 100
5k
M itchell M in in g .......... 10 t o
N Y N H A H a r tfo r d Con deb 3*28 1956. J A J § l l l k 112 k M onongahela R C o a l..50 t 8
22
P re ferred .................... 50
N orth’n Securities Stubs 2 3 7 k 250
k
k
M ont A Boston Consol .5 f
Penn, gu g 4 4*% notes
99
99 k M ortgage Bond C o ... 100 100 103
N ov 1 1907..........M AN
34
37
Nat Bank of Cuba___10*- 106 108
Pitts Bess A L E .........50
70
73
P referred .................... 50
Nationai Surety.........10*' 135 145
17 k 17k
N evada Cons’d Copper.5
Railroad Securities C o . 35
45
90
9 3 34 HNew Central C o a l___2*
Ill.C .stk.tr. cfs.ser.A ’ 52
38
N J Ter Dock A Im p. 100
Seaboard A ir L in e—
98 100
N Y B iscuit 6s 1911.M-S 102 k
Coll tr 5 s 1907 o p ...M -S
N Y M tge A S ecurity. 100 190 200
SeaboardCo___ See Balt Exch list
35
40
HNew Y ork D o c k ___100
Va A S outhw estern..100
80
83
H P referred ...............lo o
In d u strial and IVLiscel
6k
N Y T ra n sp orta tion ...2 0 1 6
78
N iles-Bem -Pond com . 100 120
Ahm eek M in in g ......... 25 t 77
3
2k
1/Ontano S ilv e r .........100
A lliance R ea lty .........10U 118 125
48
50
6k
6 3b Otis Elevator com ___100
Am erican Can c o m ... 100
96 100
53
P re ferred ..................100
52
P referred ..................10o
4k
Phoenix Securities..........
Am erican Chicle Co.-lOU 175 182
Pittsburg B rew in g___50 t 30k 31
P referred ..................100 163 107
44
42
P re fe rre d .................... 50 f 50 k 51
Am Graplioplio c o m ..lo u
82
80
Pittsburg Coal See Stock Excli list
P r e fe rre d ................. lo o
5
3k
Pope M anufacturing. 100
Am er H ardw are.........106 104 106
65
75
1st p re fe rre d .......... 1 0 0
A m I ce S ecurities___See Stk E x list
14
17
2d p referred .......... 100
A m M alting 6s 1 9 14. J-D 103k 105
95 105
Pratt A W hitn p ref.. 100 102 105
Am er Press A ss o c’n.lO o
3
Realty A ssoc (BKlyn)lOo 158 165
1
Am Soda Foun com .. 100
48
40
Royal Bak Pow d pref .100 107 n o
1st preferred............ 100
10
5
Safety Car Heat A L tlO o 280 295
2d preferred............ 1 0 0
____ m
Seneca M in in g ................. t 55
Am er Steel F oundries—
Singer M ig C o.............100 520 540
89
M 6s 1935..............A A O § 88
L95
Southern Steel—
Am erican Surety.........do 185
94
1s ts f g o s 1930 opt M-N § 92
4k
Am erican Thread p re f..b [ 3 34
40
45
Standard Coupler comlOO
Am T obacco (new) com .. 36u 380
P re ferred ..................100 120 130
P refd.......... See Stock Exch list
10
8
4s and 6s......... See Stk Exch list Standard M iffing Co. 100
27
32
49
P referred ................. 10*
35
Am T ypefo’ rs c o m ... 106
76
79
95 lUtf
1st 5s 1 9 3 0 .............M-N
P referred ..................100
*
Standard Off of N J ..1 0 0 59y 600
3k
Amer W riting Paper. 100
24
22
Sw ift A Co See Boston Si k Ext h’ go
P re ferred ..................lo o
85
84
1st 5s 1910-1914....J-J §102 106
5s 1919...................... J-J
40
70
65
Tennessee C opper....... 26 t 39
fiBarney A Sm Car ...101
75
HTexas A Pacilic Coal 10*
fi P referred................ 100 146 150
1st 6s 1908.............. A-O §105 110
214 25 4
fiBethl’m Steel Corp .100
87
75
Title Ins Co of X Y..1UO 180 190
fiPref e r r e d .............. 100
Tonapah M m (Nevada). 1 1 18k 19
98
fiCoff.tr.g.s.Lds 1914.J-J
20
16
TrentouPotteries comlOO
Bliss Company com ___5c i V 6 "
94
98
Preferred new ___ 100
P referred .................... 50 130 134
45
55
T row D irectory uew . .100
Bond A M tg G uar___100 375 400
Union Copper. ............l o \ l* i s 1616
B orden 's Cond M ilk .. 100 170 175
99
96
Union Typew r c o m ..!00
P referred ..................100 111k 115
1st preferred............. 1 0 0 118 122
7k
British Col C opper........ 5 t
2d preferred.............lOo 117 123
28 4 29 4
Butte Coalition M in .. 15
46
3
United Bk N ote Corp. .5** t 43
6
Casein Co of A m com.. 10*
53
Preferred ............... 5* t 50
75
85
P re ferred ..................10<
97 k 98 k
U nited cig a rM fg ., ikf-luO
Casualty Co of A m e rica .. 120 130
United Copper.............100 x&2 k 02 "a
Celluloid C o..................106 140 144
89 k 100
12
P re fe rre d ..................100
17
Cent Firew orks co m .100
U S. C a su a lly .............lOo 200
65
70
P re fe rre d ..................10*
30
25
U S Envelope c o m ... 10*
4
5
Central F ou n dry.......106
92
89
flPrelerri I............. I
17
19
P re fe rre d ..................10<
U S Rub 2d pf See Stock Exch list
78
80
Deb 68 1919 op ’ 01M-N
Central L eath er.........Sec Stk E x list U S Steel Corporation —
C oltr s f 5s '51 opt '11 .. §112k|118k
Century R ea lty ........ 10*' 190 200
3k
Col trs f 5s '51 not o p t .. §112
Chesebrough M fg Co 10< 440 480
U S T it G u A Indem .100 125 130
Chic Pneum T ool See Cl» icago list
W estchester A Bronx
116
City Investing C o............ n o
T itle A M ort Guar Co. 175 180
108 118
HClad in ( i l B) com ___10*
W estiugh ALr B rak e..50 1145 110 k
96
Hist preferred........ 10<
W est E lec So M fg—
96
H2d preferred.......... 106
97
Con s f 5 « '31 O p '12 J-J § 9*3:
Colo Industrial. See Sto( k Ex list
W hile K nob M in .............
65
80
Col A H ock Coal A I pf 10*
2
P re fe rre d .......................
§ 83 k 93
1st g 5s 1917.........J
Col tr 68 Oct 1956..J-J
1014 W orthing Pump pref. 100 115 113
U
Bid
70
99
98
40

A*k,

76
103

S tr e e t R a ilw a y s
A sk
Bid
Lake St (Chic) E l
See C hicago list
NEW YORK CITY
fiLouisv St 5s 1930.. JA J U l l k 112 k
L yn n A Bos 1st 5s ’ 24. J-D §107
32
28
Bleeck St A Fed F stk 100
HNew Orl R ys A L g t.See Stk E x list
92
95
Hist m ort 4s 1950 ..J-J
HP re fe rre d ................See Stk E x list
HB’ y A 7th A v e stk ..1 0 0 230 240
H G e n M g 4 k s ’ 35 See Stk E x list
H2dmort os 1914 ...J -J 102 104
N orth Chic Street See C hicago list
Con 5s 1943 See Stock Excli list
P u b Serv Corp of N J100 100 105
B'way Surf ls t 5 s gn 1924 §105 108
67 k 67 k
T r ctfs 2% to 696 perpet
flCentT Crosst’ n stk .,1 0 0 300 325
Coll trust 5s gold notes
Hist M 6s 1922 ...M -N §114 117
1909 optional___M-N § 95
95k
U CenPkN A E R s tk .100 198 202
30
N orth J ersey St R y 100
fiChr’tT A 10th St stk 100 170 178
§
77
1st 4s 1948.........M-N
78 k
Col<fe 9th A v e 5s See Stock Excli list
79
80
Cons T rac of N J ...1 0 0
Dry D E B A B—
1st 5s 1933.......... J-D §105 106
f l a t gold 5s 1 9 3 2 ...J-D 108 112
99 102
N ew ’ k Pas R y 5s ’ 30J-J §110 112
HScrip 5s 1 9 1 4 ---- F-A
Rapid Tran St R y ..l0 0 240 250
fi Eighth A ven u e stk. 10* 380 400
1st 5s 1921........... A -0 §108
HScrip 68 1 9 1 4 ___F-A 100 105
25
J C H ob A PatersonlOO
H42d A Gr St F ’ y s t k .. 10U 380 400
50
4s g 1949..............M-N 1 73k 74 k
70
42d S tM A St N A V ..1 0 0
So J Gas E l A T rac 100 118 122
Ijls tm o rt 6s 1910 .M-S 103 105
55
70
G u g 5 s 1953....... M-S §100 101
H2d incom e 6s 1915 J-J
N o H ud Co Ry 6s’ 14J-J §109 112
Interboro-M etropolitan—
5s 1928................... J-J §108 111
Common. See Stock Ex cha’ ge list
E x t 5s 1 9 2 4 ....... M-N §100 103
Preferred, See Stock E x cha’ ge list
P at City con 6s ’ 31-J-D §120
4 k % bonds. See Stock E xch list
2d 6s___1914 opt A-O §100
Lex a y A Pav F 5s See St k E xc list
M etropoi Securities See Stk E x list So Side Ei (Chic) See C li icago list
§ 106 k 107 k
Metro£>ol Street R y See Stk h. x list
§102 105
Ninth A ven u e sto c k .100 170 180
U nited R ys of St
Second A ven u e stocklOO 198 204
44
45
Hist mort 5s 1909 M-N §101 103
80
81
VP referred...............
Consol 5s 1948___F-A §109 112
Gen 4s 1934___ See Stk E xch list
fi Sixth A ven u e stock 100 170 174
U m tR ysS an F ran A’eeStk Exch list
Sou Boulev 5s 1945. .J-J §100 104
W ash R y A E l Co___100
38 k 3 S 34
So Fer 1st 5s 19 1 9 ...A -0 §104 108
85k 86 k
P re fe rre d ..................100
Third A v en u e See Stock Exch List
85 k 85 3,
4s 1 9 5 1 .....................J-D
Tarry W P A M 5s 1928 §102 106
29
26
fiW est Chicago S t ___lOo
Y kersStR R 5s 1946A-U §104 107
70
fiCon g 5s 1936___M-N
28tli Sc 29th Sts 1st 5s ’ 96 § 105 106
' T w enty-T h’ d St stk lOo 380 405
G
a
s
S
e
cu
ritie
s
Union R y 1st 5s 1942 F-A §106 110
NEW YORK
106
W estchest 1st os ’43 J -J §105
Cent U n Gas 5s g ’27.JAJ §100*2 102
BROOKLYN
Con Gas (N Y) stK. See St k Exc h list
Conv deb 6s ctfs A’eeStk Exch list
Atlan A v e 5s 1909..A -0 §100 102
fiMutual G a s .............. 100 2 0 0 235
Con 5s g 1931.........A-O §110
N ew Amsterdam Gas—
98 101
B B A W E 5s 19 3 3 ..A-C
1st consol os 1 9 4 8 .-J-J § 1 0 0 k 102 *2
Brooklyn City s to c k ... 10 225 230
N Y A East R iver Gas—
Con 5s See Stock Excli list
1st 5s 1944................J-J §103 107
106
Bkln Orosstn 5s 1908.J-J 190 103
Consol 5s 1945.........J-J § 1 0 2
38
Bkn H gts 1st 5s 1941 A-O 105 108
N Y A R ichm ond Gas. 100
Bkln Q Co So Sub See Stk Exch list
N or Un 1st 5s 1927.M-N § 1 0 0 102
Bklyn Rap Tran See Stk Excli list
^Standard Gas com ..10o 115 130
fiConey Is. So Bklyn ..100 200 225
fi Preferred .............. 100 150 170
93
96
1st cons g 4s 1 9 4 8 .-J-J
1st 5s 1930.............M-N 105 109
BrkCrfe N b» 1939 A-J 111 113
OTHER CITIES
Gr StA N ew l s v o s ’ 06 F-A 100
G r'pt A L orim er St 1st bi- 103
A m er L ight So T ra ct.lO o *114 117
99
Kings Co. Elevated—
P referred ..................100 z 98
1st 4s 1949 See Stock ExcL List
Bay State G a s .............. 50
610
65
Nassau E lec pref....... 100
75
Bingham ton Gas 5s 1938 § 95 100
5s 1944.....................A-O 105 110
Brooklyn U nion Gas deb
1st 4s 1951.......... See St k Exc h list
6s 1909 con v '0 7 ...M -S 120 130
5
7
Buffalo City Gas stocklOO
104
N Wh’ g A F l a t l s t e x 4 V 101
Stein way 1st 6s 1922. J-J § 1 1 2
1st 5s 1947 See Stock Exch list
115
Consol Gas of N J —
95
OTHER CITIES
1st 5s 1936................J-J § 92
Consumers’ L H A P o w Buffalo Street B y—
5s 1938.......................J-D §105
1st consol os ly 3 1 ..F -A §100 111
Elizabeth Gas L t C o .. 10* 275
Deb 6s 1917............ A.O §105
Essex Sc Hudson G a siu e 120 125
40
Chicago City R y
See C h icago list
40
Fort W ayne 6s 1925.. J-J
57
60
Columbus (O) St B y ..100 101 102
Gas So El Bergen C o.. 10*
P r e f e r r e d .............100 110 111
Grand Rapids Gas—
Colum Ry con 5s See PI. Ua lisi
Hist 5s 1 9 1 5 .......... F-A 5101 103
Crosat’ wn l s t 5 s ’ 33.J-D §103 106
Hudson Co Gas.......... 100 107 109
Grand Rapids R y ___100
70
75
Indiana N at Sc IB Gas—
30
P re fe rre d ..................100
25
85
90
1st 6s 1908.............M-N
1
aEx-rlghts. a?Ex-div. iN e w stock. H&Mh* ou St’ k Exch., but not a very active security.
§ B uyer pays accr’ d int. t P rice per
Bid

A sk

BOSTON STOCK EXCEA.N3-E—Stock Record, Daily, Weekly and Yearly
&hare P rices—Not F or Centum P rice*
Saturday
July 14

Monday
July 16

Tuesday
Jultf 1?

Wednesday
July 18
87%

Thursday
July 19

Friday
July 20

STOCKS
BOSTON STOCK
EXCHANGE
R a ilr o a d s

Sales
of the
Week
Shares

Range tor Year
1906
Lowest

Highest

) flange roY Rreviout
Year (1905)
; Jjowest
1

Atch Top
Santa FelOO
2 0 0 8 6 % J’ly 12 96 % J an 18 77 7h Maj ! 93% Mar
10 0
'Bo pref.............. 100
54 98 2 J’ ly 3 105 %Jan 3 99 ^2 J an 1105% Sep
244
Boston
Albany.. . 100
175 242 J’ly 9 257 4 FebJ9 253 Dec 261 Apr
15^
Boston Elevated... .1001
76 152 J’ nel2 160 Jan 1
N ov ;1584 Apr
240
5 238 J'ne 12 246 4 Apr ‘z c 241 JSIa> 249 Mar
Boston & L ow ell... .1 0 0
170
82 169 J ’ly 20 180 4 Apr 2 . 1 ) De.. 185 4 Mar
Boston <fc M aine... .1 0 0
175
32 170 J’ ne 7 175 4 May 4 171 Jan 175 Apr
Bo pref........... .1 0 0
308
J ’l y ’06 Boston & ProvidencelOO
308 J’ly 3 314 % Apr 24 10)5 Jan 311 Dec
308
27
27
27 Bosron& Wor Elec Co__
27
618 25 Jan 17 39 4 Apr 7; 13 4 J an 35 Mar
*7«
78
142 7 2 4 Jan 16 90 Apr 7| 63 ^2 Jan 82% Apr
*76
I)o p r e f.....................
27 158 J ’ ly 13 182 Jan 32 i 50 Jan 182 Mar
158
159 Jhlc Jone Ry & U S Y 100
158 153
*
120
119
J’l y ’06
Bo
prer..............100 ........ 119 J ’ ly 5 127 Jan 16 123 Nov L32 Feb
188
J’l y ’ 06 Con Sc Mont Class 4.. 100,
’ 88
J’iy 11 190 Mar 2 4 LS6 Jan 1894 Mar
163
A p r’06 Conn & Pass R iv pref 100
163 Apr 6 103 Apr 0 :6 0 4 Jan 167 Aug
3£)7% A p r’ 06 Connecticut R iv er... 100
297 2 Apr 3 298 Apr 2 385 Jan 300 Aug
w139
140 Fitchburg pref..........100
* ........ 140
56, 1371■i J’ne 12 145 Jan 3* i41 Dec 148 Mar
139 139
139 140
*1384139
“ 102 ........ 10 2 102 M 0 2 ........ *102
'1 0 2
10 95 Jan 8 107 Apr 27, 59 % Jan 92 Oct
G-a Ry & Electric___100
90 % J’iy ’ Oi
904 J’ly 2 95 Jan 2j 86 Jan 96 Nov
Bo p r e f............. 100
J’ ne’06 Maine Central............ 100
197 Mar 2 7 198 Apr 13 175 Jan L92
L a st S a le 198
K
23o 17 Jan 5 23 J’ ne w 13 Oct 23
18
18
19
19
19
19
19
19
*18%
19% Mass Electric Cos___100
*18 4 20
*68
69
69
69
*68
684
*68
69
438 59 4 Jan 2 75 J’ ne fci 55 N ov 70 4 Mar
68
69
Bo
pref..............100
68
684
22% May 12 2 o ' 4 Jan 9 1934 May 25% Beo
*204 2 1 4 * 2 0 % 2 1 % *194 20 4 L a 8 t S a le 22 % May’ 06 Mexican Central.......100
193 193
193 194
288 190 J ’ly 11 207 L4 Jan 27 a 192^ Dec 215 4 Sep
193
1934 N Y N H & H a rt....100
192 4192 4 192% 193
1924 193
157 May 2 6 163 Feb 7 164 Oct 1674 Ma7
160
J’ ne’06 Northern N H ..........100
228 J’ly 12 233 4 Mar 11. 232 Jan 233 May
228 2 2 8
Norwich & W or pref 100
*........ 205
200
203
203 Old Colony................. 100
14 200 J’ly 13 210 Jan 15 2054 Jan 212 Apr
*205 ........ - ........ 2 0 0
204 204
200
L a s t S a le 101
O c t ’05 Pere Marquette
79 Jan 102 Feb
*53 ......
100
*53
*53
*53
........ *53
J’ne’06
50 Jan 15 57 Feb 20 52 4 Bee 87 Feb
*53
L a s t S a le 53 4
.100
Bo p ref.....
51
51 Rutland p re f...
54
17 50 Mar 14 64 Jan 4 50 Apr 72 Jan
.100
52
*?U
73
73
73 Seattle Electric
160 65 Jan 10 80 Mar 2 50 J ud 67 4 Aug
*70
73
72
72
72
*70
73
72
.100
........
24 95 Jan 10 106 Feb 20, 93 4 Jan 102 Sep
*100
1 0 0 4 100 1004 MOO 100 4 100 4 1 0 0 4 1 0 041 004 MOO
Do pref___
.100
1417e 1414 142 144
1434 144%3 1424 143 4 1424 1444 1444 146 4 Union Pacific..
,100 5,865 139 4 May 2 160 14 Jan 24; 113 Jan 1514 Beo
93
y3
*93% 94%
95 Sep 1 0 1 4 Feb
10 91 May 3 9 94 Jan
.100
^y24 934 *924 9 3 4 *924
Bo pref___
172 Jan 150 Oct
175 Jan 11 178 Apr
May’ 06 Vermont & Mass___100
L a st s a l e 175
*95 ........
95% 96
93 Jan 102 Sep
183 95 J’ly 10 101 Jan
96
96
96
*95
95% West End St............. 50
*95
954
110
110
110 Bee 117 4 Apr
34 110 J’ne27 1 1 6 4 Aim
*110
1 1 0 4 110 110
110
11 0
*110 110% 110 110
Bo pref............... 50
L a st s a le 25\
2 5 4 May 9 2 54 May
2 1 4 Jan 3 1 4 Sep
May’ 06 Wisconsin Central... 100
L a s t S a le 6 0
Oct ’ 05
55 4 Aug 69 4 Sep
Bo pref............... 100
150 Feb
L a s t S a le 150
A p r’06 W ore Nash & R och.,100
1 5 0 4 F e b l6 146 Mar 151 Nov
M iscellaneous
*20
21
200 21 J’ly 1 2 34 Jan 27 194 Jan 29 4 Apr
21
*204 24
*204
24 Amer Agricul Cliem.iOO
*20 4 21
21
* 2 0 4 21
*92
93
92%
92%
164 91 May 2 102 Jan 26] 86 Jan 96 4 Sep
93
93
93
92 4 93
*93
944
Do pref............... 100
93
16
16
15
15% Amer Pneu. Serv....... 50 3,445 11 Jan 3 29 Mar21
4 4 Apr 15 Bee
14 4 lb 4
15
154
154 16%
16
16%
35
35
35
35%
35
35
344
34%
35
35 4
Bo pref............... 50 1,244 30 Jan 4 46 Apr 2 20 Jan 3 6 4 Bee
35 4 35 4
129 1294 129 3e 12 o 4 130 130% 129 129% 129%129% 130% 131 Amer Sugar Refi-n___100 1,465 128 May
156% Jan 8 L3U4 Ma\ 154 4 Bee
132 133
133 133 *1,32 134
133
133
69 131 May 21141 Jan 2 132 May 140 4 Aug
1324138
132 133
Do pref............... 100
130
130 Amer Telep & Teleg.100 1,746 128 J ’ly lo 144 78 Jan 17 1304 Bee 148 Jan
129 4 1294 129 4 130
130 13 0
129% 130 4 1294 130
65 32 J’ ne29 474 Jan 24; 21 J an 47 Nov
*33
33 4
33%
33% Amer W oolen............ 100
33
33
33 4 *33 4 334
*33 4 *33% *33
102 102
392 101%_ J’ly 19 1104 Feb 21 924 Jan 109 Mar
102 103
102 1024 102 1024 1014102% 101% 1014
Bo pref............... 100
4 3*j J ’ne
3 4 Mai
*4
44
3 4 Jan 11 4 4 J’ne 7
J’ne’ 06 Boston Land............. 10
*4
44
*4
44
*4
4% L a s t S a le 4%
115 4 1 1 6 * 115 7s 116
185 115 J’ly 20 L1S34 M arl:, 116 Aug 124 ‘ Jan
1154 116 Cumberl Telep & Tel 100
116 116
116 116 * 115 % 116
26 Jan 4 34 Apr 31 17 Jan 28 Bee
26% L a s t S a le 274 J ’l y ’06 Dominion Iron & St.......
* 2 5 ^ ........ *........ 26 *........ 264 rc
7 34 Jan
5% Jan 31 _9% Apr 11
J ’l y ’ 06 East Boston Land...........
5 4 J’ly
* 74
84
*7 4
84
8% L a s t S a le 8
*7a4 8*2 *8
*........ 24U
240 210
23S 238
43 238 J’ nel2 250 Jan 13: 239 Dec 257 Apr
240 240 *
238
238 Edison Elec Iliu m ... 100
238
161 162
4 J an 9| 169 4 May 191 Jan
93 161 J ’ly 14 180 L
164 164
162 4 1634 General E lectric.......100
1 6 3 4 1 6 3 4 164 164
534 534
534 5 4 ^
56
564
57%
574 Mass’chusettsGasCoslOO 7,172 44 May 3 64 34 j ’nelS 3 84 Jan 517s Aug
5 4 4 57
564 5 7 4
87
87 4
732 8 4 4 Mayl7 8978 J’ne 7 SO 4 Jan 8 8 4 -day
87
874
87 4
87 4
Do pref............... 100
87 4 87 4
8 7 4 87%
8 7 4 87 4
194 194 *192 194
60 190 Mar 23 L98 Mar 9 flS5 4 J'ne 206 Apr
194 195 *194% 395% Mer genthaler Lino ..100
191 191 *1934196
34
34
1 Feb ||3 4 Dec
3 Jan 2
*3% 4
5 F eb24
168
34
34
4
34
3 % Mexican Telephone.. 10
4
34
84
130 130
130 130
1294130
130% N E Telephone.......... 100
2 IS 129 4 J’ly 17 141 % Apr 6 131 Bee 140*4 Apr
130 1304 130 1304 130
*.
4 *___...
2 4 Jan
1 Feb
1 J a n l6 l 1i6 Jan 15
4 *........
4 *
J a n ’ Oo PlantComt’ststk eomlOO
% L a s t S a le 1
10 Jan 17 Jan
* ........ 10 *........ 10 *........ 10 1
L a st S a le ’ 134
Sep ’06
Bo p re f............... 100
10
*219 ........ *220 ........ 220 221 *0. 1 ^ 9‘/'A 2 2 1 4 2 2 1 4 221
221 Pullman Co................. IDO
33 219 J ’ly 10 2464 Jan 2 230 May 258 Oct
8 4 Jan 1 0 4 Feb
* 9 4 10
9 4 Jan 11 10% Apr 3
10
10
30
10
* 9 4 10
Reece Button-H ole.. 10
*94
10
* 9 4 10
10
103 1U3
275 1 0 1 34 J’ne22 108*4 Mar 9 1 0 0 Bee 114 Jan
104
104 Swift & Co.................100
10338 103 4 103 104
1 0 3 4 1 0 4 4 1,03 4 104
22 4 Jan 11 23 Feb 12 18 J’ly 23 Jan
*22 4 23
*29^ iia
L a s t S a le 2 2 4
J’ne’06 Torrington Class A .. 25
*224 23
*224 23
*26 ........ *26
L a st S a le 26
25*2 Mar 29 26 J’ly 2 25 May 27 Aug
J’l y ’06
Bo
pref............ 25
*26 ........ *26
4 4 Aug
2 4 May
2 J ’ne 11 2 4 Jan 22
*2 4
3
L a s t S a le 2
J’ne’06 Union Cop L ’d. & M g. 25
*24
3
3
*24
"2.4 3
107 107 *1074108
108 4109
239 1034 May 2 1134 May 17 103 Apr 115 Feb
1084 109 United Fruit..............100
108 1084 1084109
7d
78
764 764
945 73 Jan 10 86% Feb 1 57 J’ne 90 Aug
78%
78% Un Shoe Mach Corp. 25
7 6 4 764
764 "6 4
7 7 4 78
*cM
30 4 * 3 0 4 31
30
563 z29 4 J’ne20 32 Jan 27 .c30% Dec 344 Aug
3 0 4 31
Do
pref............ 25
29% 30
294
294
48% F ebly 5 4 4 Feb j 34% Jan 57 Bee
L a st S a le 487q F eb ’06 U S Rubber............... 100
109 May23 113 4 Jan 13 98 7s Jan 117 4 Apr
L a s t S a le 169% J’ ne’06
Bo
pref.............100
24 7g May 43 4 Bee
33 4 334
34%
35% U S Steel Corp.......... 100 5,922! 324 J’ly 3 46% Jan
34% 34 % 31
344
3 3 4 34 4
344 35
1 0 0 4 100 4 1 0 1 4 1 0 2
101% 102
Do
pref.............100 2,370 99 J’ne30 113% Feb 1 y i May 107 Bee
101% 1014 1 0 1 4 1 0 1 4 101% 102%
*-5u ........ *•50 ........ *•50 ........ *•50
•40 Jan 26 •55 J’ne 2 •40 Mai •6 ( 4 J an
L a s t S a le •50 ' j ’ne'06 West End Land........ 25
* „ ..... 12 *........ 12 *........ 12 *c
12 Jan 2 17% Jan 18 11 Bee 22 4 Feb
L a s t S a le 12
Teleg.100
J ’l y ’00 West Telep
12
9l
91
90
90
"90
9L
8o 88 Apr 25 98 ^ Jan 19 90 Oct 104 Feb
91
90
90
Bo
pref.............100
*90
91
*90
*76
80
*76
80
*76
80
80
50 764 J’ly 20 86 Feb 7 82 4 Oct 92 Mar
*76
80
*76
7tr>4
76% Westing El<& M fg ... 50
*0 ....... 91
85 May24 98 Jan 11 91 May 1 0 0 Cot
L a st s a l e 90
Bo
pref............ 50
*........ 91 *........ 91 +
91
J’ne’ Oo
Mining
5
54
5 Jan 10
8 4 Apr 4 12 34 May f 10 4 Oct
*5
6
6
575
6
6 Adventure Con.......... 25
6
6
54
6
6
33
33
32
32 4
32
32%
32% A llou ez....................... 25 2,069 314 J ’ly 19 47 Jan t 18 Apr 49 Oct
3 1 4 32
32
3 2 4 32 4
93% 9 4 4
9 3 4 96
95
964
96
974
95% 964
96%
9 7 % Amalgamated Copper 100 35,301 92 MJ ’ly 13 118 Feb 13 70 Jan 1 1 1 4 Bee
*9
12
8 J’ne 154 Bee
9 Apr 24 164 Jan 8
*9
12
*9
........
50
Am Zinc Lead & Sm. 25
* 8 4 12
10
10
*9
59
59 Anaconda.................... 25
10 5 7 4 May 2 74 Feb 14 25 4 May 73 4 Bee
7 Nov
1 May
2% J’ly 13
24
24
6 Jan 8
*2
3
2% 2%
510
2%
24
24
*2 4
24
"2 4 A roadian................... 25
3 Nov
*........
1
% J’ ue 5 2 Jan 3 •45 J’ne
j A r n o ld ..... ................. 25
1
1
1 * ......
1 *........
2.00
•90 *90
*13 4 13 4
810 104 May28 284 Jan 6 12 4 May 2 d 4 Oct
14
*134 144 *13%
1 4 4 A tla n tic..................... 25
134 14
14
144
14
2 5 4 26
27
27%
2 5 4 264
27
27 4
27
27
2 74
27% Bingham Con Min& S 50 2,634 25 J ’ly 13 49% Feb 14 28 May 37 4 Bee
*•45 *50
•45 May29 •75 M ario •50 May •95 Oct
*•45 ”50
L a s t a le '50
*•45 *50 -•40 •50
J ’l y ’06 Bonanza (Dev C o)... 10
534 Jan 35 Dec
23 4 2 3 4
24
25
24
244
24%
25 BostonConCc&Gr(rcts) £1 2,215 20 ‘8 Mar 15 33 4 Jan 2
25
254
2 44 24%
•27
27
29
30
27
28
28
30
29%
31% Butte C oalition ........ 15 L3,127 25 J’ly 13 31% j ’ly 2u
29 4 30
107 107
1074108
552 107 J ’ly 14 120 A p r 17
108 Uaiumet A r iz ...... . 10
1 0 7 4 1 0 7 4 108
1074 1074 108 108
679 680
678 678
679 680
678 680
61 675 May 2 715 Jan 15 601 J’ne 720 Bee
6S0
680 Calumet & H ecla___ 25
680 680
4 Oct
18
18
20%
1 8 4 19%
20 4 204
1 9 4 20
20
204
20 4 Centennial....... ......... 26 1,000 17% J ’ly 13 32 Jan 12 165s Mai 34
8 4 Jan
5 4 Sep
*........ 5 4 *........
5 4 Apr 27
5 4 Apr 2 )
54 *
54
Anr’Ort Central Oil................ 25
5 % L a s t S a le 5 4
*•50 “55
* ‘50
'55
550
4 J’ly 7 •70 Jan 22 •30 Mar •75 May
*•50 -55
4
4 *•50
*55 Cons Mer cur G old... 5
4
4
5 4 Dec
68
684
6 9 4 69%
684 69 4
691a 70
6 9 4 69%
69%
70^4 Copper Range Con ColOO 3,708 6 6 34 J’ ly 13 86 4 Jan 20 64 Jan 8
154 15 4
15% 15%
421 14 Mar 19 18 Jan 5 11 4 Mar 22 Nov
15 4 15 4
15% 15%
15% 15%
15^
15^ D a ly -W e st................ 20
7 4 4 May 11 84 Feb 13 60 Jan 864 Mar
L u s t S a le 79 4
.T’rm’Ort Dominion Coal.......... 100
*118 120 *118 120 *118 i ’20 *118 120
118 Apr 30 122 Mar 19 113 Jan 120 Deo
L a s t S a le 118
Bo pref............ „.100
A p r’ 06
4 Oct
*........
2
May
2
1 34 j ’ly 19
*14
2
2 34 Jan 12
14
14
200
*1 4
2 «•
*1 4
‘2 Elm R iver.................. 12
Apr 2 0 4 Oct
15 4 15 4
* 15 % 16
985 14 Si May 2 21 Feb 7
15 4 15 4
16
16 Franklin............... . .. 25
1 5 4 1 5 4 *15 4 16
Jan 104, Beo
*1 0 4 l 0 4
9% Jan 17 13 s8 M ario
10% 10%
11
630
11
11
10% 1 0 % 11
*114
11% Granby Consolidated 10
19 7b 21
20% 21%
21
2 0 4 20%
214 21%
20%
21 Greene Consolidated 10 9,530 193® J’ly 12 3134 Apr 16 2 0 4 J'ne 3 2 4 Dec
214
7 4 Apr
3 Jan
*5
54
4% Jan 5 7% Jan 18
*5
64
13
*4% 5 4
*4% 5 4
*6
54
0%
5% Guanajuato Consol.. 5
l o 4 16
15% 16
610 15 4 J’ly 14 29% j'an 6 17 4 May 284 Jhn
164 16 % *16
*154 16
*16
16% Isle Royale (Copper). 25
164
6 May 13 4 Mar
64
64
6*2 J’ly 14 12% Jan 13!
64
64
*7 ........
250
*7
*7
7
7 Mass Copsol............... 25
l 7s Oet
*•45 *55
•40 J’ne27
1^2 Jan 41 •70 J ’ne
**A5 *55
Mayflower.................. 25
*•45 -5'5
*•45 *55
L a s t S a le 4
J’ne’
06
* 1 0 4 11
11
11
270 1 0 34 J'ne22 1739 Jan 3 104 Jan 18 3s Bee
12
*11% 124 *114
M ichigan................... 2o
12
124 124
59
5 9 4 *58
60
(4 0 % 60
69 4
59 4 60 4
60
546 5 4 4 Mar 5 67 j ’ne 5 48 May 644 Beo
60
61 M ohawk..................... 25
6 4 Bee
2 J’ ly
*2
24
2 J’ly 11
7% Feb 13,
24
24
21iq 2%
873
24
2^% *24
2% 2 4
2 4 Montana Coal & CJoke 25
13 Bee
16 4 1 6 's 164 164
17
17%
17% 17% *17% 17%
1^4
17%) Nevada Consolidated 5 1,850 11 Jan 26 2u A p r18 1 0 4 Bee 93
Dec
83
8 3 '4
84 4 85
81
85 4' 8 4 4
84% 35 4
85
85 4
85 N orth B-utte.............. 15 6,109 744 Mar 6 9514 MavlO 34 Aug
2% Oct
*•70 ........
l 7s Jan 11 •75 May
1
1
*•60 *75
101 •70 J ’ly 17
•70 *70
*•60 •75
*•60
*75 Old C o lo n y .............. 25
34
34
37
37
3 4 4 344
3 0 4 36 4
36 4 3 64
374
38% Old D om inion........... 25 1,060 33 J ’ly 13 47 4 Feb 20 23 4 Ma' 36 4 Dec
99
99 4 100 100
100
1 0 0 4 10O 1004 101 1014 1014 1014 O sceola...................... 25 1,413 93 Mar 7 11 2 Mayl7 88 Feb 115 Oct
22^ 23
2 2 4 24
24
24
24
813 2 2 4 J’iy 14 48 J an 2 22 J’ ne 47 Bee
2 1 4 24%
244
25 Parrott (Silv c& Copp) 10
24
3 4 Jan
*•60 *70
*60 MavlO
*•60 ........ *•60 *75 *•60
l% J a n 4 •50 J'ne
•75
L a s t S a le ‘70
J’l y ’ 06 Phoenix Consol.......... 25.
83
844
80
80
84 4 84% *83
*83
85
183 80 J ’ly 16 Ll4 Jan 11 95 Maj 118 Jan
85
*83
8.4 Quincy.................... ... 25
87s Oct
1 4 May
*3
34
3 4 J’ly 16 8 % Jan 19
220
34
34
34
3 4N 3 4
*3% 4
34
*3%
4 Rhode Island............. 9
3 Jan
1 4 May
2°g Jan 16
*1 4
14
H i J ’ly 3
*1 4
14
1 4 Last\S a le Z4
*1 4
14
JDy’Ue Santa Fe(Gold & Cop ) 10
*14
9 Jan
6 4 Feb
8 7g 9
9
9
5 34 Jan 10 10 MayiO
9% 9%
u
>9 y
9%
9% Shannon..................... 10 6,940
9% 9 4
*93 ........
93
93
109 90 J’ne 9 12 2 J a n '2 L01 May- 140 Mar
93
93
Tam arack.................. 25
*93 ........ *93
*93'
2 Feb 16 4 Oct
9 Apr 28 16*8 Jan 8
10
10
395
94
94
10
25
94
94
10
94
94
*94
10%
40 May 2 52 Jan 6 24% J’ne. 534 Dec
L a sit S a l e 41
J’lv'O t Tennessee.’.............. 25
7 % Jan 1 34 Feb
7 34 J’nel9 13% Apr 5
8
8
7 78 778
8
d
1,385
8
8%
8
S
8
S% Trinity..................... 25
9 Mar 75 Beo
63
63%
4,810 5 7 4 May 2 78 Feb 7
63% 634
63 4 61
63 4 63% #62%
62% United Copper....... 100
63 4 (>34
—
S8 Jan 9 i l l Feb 21 7 4 4 Nov 88 Dec
Bo
pref_______ 100
L a s t Sdle' 92
May*06
9 4 Apr 134 Dec
9 4 J ’ne30 14®!^8 Mar30
325
10
lo
*9 4 10
Unit States Coal & Oil 25
*934 11)
94
04.
*9 4
10
9% 94
5 3 4 534
53
534
5 3 4 54 4
54
54% U S Smelt Ref.&Min. 50] 1,257 51 Mai’ 5 6 6 Jan 20
5 4 4 544 * 53 4 s>4
1,758 43 Mar 5 47 4 Ja-n 20
44% 44%
4,5
45
Bo pref............ 50
45
45
45
45
45
45
45
45
o?
534 534( 54
524 53
§ 2 4 53%
54
544
53% 54
54% Utah Con (G o ld )....... 5 3,487 52 4 J ’ ne28 6934 Jan 12 3 94 Mai 6f 78 44 N
Oot
c2 May
9*4 Marl4
6 J’ly 13
281
?6 ........
6
6
6%
*■6% 64
6is 7
*64
04 V icto ria .................. 25
64
7 4 Bee 15 4 Fob
4 J ’ly 3 10 Marl 9
2,541
5
5
4% 4%
5
44
44
5
5 •W inona.................... 25
44
44
44
60 131 Jan. 30 151 MarlO 10 0 Jan ] 34 Be*
25
*136 138 *136 138
138 138
138 W o lv e rih e ............
138 138 *136 138 .1 3 8
24
1 4 J’ne
395 •70 2’ ly 19. 134 Jan 26
•70 *75 (*•75
*•70 -80
........ Wyandot.................. 25
4
4
4
4 *•50 •75
c Before pay^ of a ssets’ ts called in 1905 & Before pay’tor a ssets’
in 1904, * B id a vdasxed. 1
t jS^-righ^* « J&x-div.<fcrig&*,
864
9 9 4 99 4
*243 ........
152 152
*239 240
170 170
■*170 ........
* ........ 308
* ........ 27
77
77
*158 160
*........ 120
*86

87
994
242 4
r162

874
994
244
163

884
*99 410 0 4
244 244
152 152
'238 240
1694 170 * ...... 170
*170 ........ 175 175
- ........ 308
*........ 308
- ........ 27
* ........ 27
* 7 6 4 ..
*76
78
*........ 161
V ...... 160
' ........ 120
*........ 120
*88

*87%
99 4
244
152
*238
170
*170

87
994
244
152 4
239
1694
*170
L ast
*........
80
159
L a st
L a st
L a st
L ast
139

87
994
244
15 3
239
1694
175
S a le
27
80
159
S a le
S a le
S a le
S a le
139
........

4
*99 4
*242
*152
239
169
*8 8

884
100%
........
J53
239
170

J u l y 21 1906.

147

Boston Bond Record.

1

BOSTON ST« a ’ h
X C H’ G K
W eek Ending J uly 20

Am Be LI Telephone 4 s ___1908 j - j
Am Telep A T el coll tr 48.1929 j - j
Am W rit Paper 1st s i 5s g 1919 j - j
Atch <k Xebrasua 1st 7 s . . 1908 M-S
A tell Top 6c 8 be gen g 4 s.. 1995 A-O
Adjustm ent g 4s___J ’ly 1995 Nov
Boston E lect Li* lit 1st 6s. 190 m M S
Consol 5s......................... 1924 M S
Boston 6c Lowet. 4 s.......... 1907 J -1)
J -J
Boston
Blaine 4 ’-qs.........1944 J-J
Boston Terminal 1st 3 ^ s. 1947 F-A
Bur Sc M o R iy ex 6 s .,.......1918 J -J
N on-exem pt 6s............... 1918 J -J
Sinking 1111ul 4s..............1910 J-J
Butte A Boston 1st 6s___1917 A-0
Cedar Rap & .Mo R 1st 7 s.1916 M-N
2d 7s ..1 ............................ 1909 J -1)
Cent Vermt 1st g4s..M ayl9 2i* Q-F
C B £ Q Iowa l>iv 1st 5s. 1919 \ -o
Iowa D iv 1st 4 s ..............1919 A-O
Debenture 5s.................. 1913 M-N
Denver E xten 4 s............1922 F-A
Nebraska E xten 4 s .......1927 M-N
B A S W s t 4s................. 1921 M-S
Illinois D iv 3 Has..............1949 J-J
Joint bonds See Gt Northern
Ohio J c Ry A Stk Y ds 5s . 1915 J-J
Coll trust relunding g 4sl940 A-0
Ch Mil A St P Dub D 6 s .. 1920 J -J
Gh M & St P W is v div 6sl92U J -J
Chic A N o Mich 1st gu 5s. 1931 M-N
Chic A W Mich gen 5s___1921 J-D
Concord A Mont cons 4 s.. 1920 J-D
Conn A Pass R 1st g 4 s ... 1943 A -0
Current River 1st 5s.........1927 A -0
D etG r Rap A W 1st 4 s ... 1946 A -0
Dominion Coal 1st s f 6 s . . 1940 M-N
Eastern 1st gold 6 s ............1906 M-S
Fitchburg 5 s ...................... 190?- M-N
4 s .......................................1915 M-S
4 s ...................................... 1927 M-S
Fremt Elk A Mo V 1st 6 s. .1933 A-O
Unstamped 1st 6 s .......... 1933 A-O
Gt N or C B A Q coll tr 4s 1921 J-J
Registered 4s...................1921 Q-J

Week’ s
Ban ye or
Last Sal*

LTxce
PYidao
J u ly 20

*£

Bangs
Since
January 1

H igf 4 At*
AS A Low
98%
19
12
Sale
91
91»o 29
Side
. . . . . . *1*5 % May*06 .. .
. . . . . . 104 Alai *06 . . . .
1
10 2 4 101*8 101*8
1
94 V*
94 Hi
95

Bin
99
91%
......
......
1 0 D»*
94

Low H i oh
98 4 100
90
95
1|85% 8 S%
104 104 4
99% 1103 V
9 3 4 97

110 Feb *04
104HaApr *00
101% Afay’00
114 M ar ’ 0 6 ..
112HaJan ’03
110
110
1
109
.......
102 Sep ’05 . . . .
99 % J ’ne'Oo ....
99 78
10 0
J’ne’Ol
124
129 J’ne’05
L1 1 J’ l y ’05
8 S 4 89 % 89 4 J’ne*06
109 May’ 05
100% J ’ne’ OO
102%
102 4 J ’l y ’ 06 ..
1
99 7s
99%
99 78
102 103 102 7g J’ne’ OO ___
99 J ’l y ’06 __
99 100
1
91 Sale
91
91
c>
104%
1 0 4 4 1044
99% 9 9 4 J ’l y ’ 06
122 A p r ’ 06
1204
126 F e b ’ 05
109 N ov’05
9 9 Ha
99 102 102 J ’ne’ 06
101 Hi J ’ne’06
112*4 J a n ’03
100 J’ ne’06
95 Sai*5 95
95
3
100
100 J ’l y ’ 06
100*4 J’ne’06
100
103 4 Sep ’ 05
103 *8 A pr ’05
102 Hi M ar’06
137% A p r '06
140 A p r ’05
9 7 4 97% 97=8
97*8 39
97 s*
9 6 34 J ’l y ’ Oo . . . .

101^ l o 1^8
114 114
no

1114

99

99 "H

87

90

LOO 101
102 4 104
99 100 4
10278 105 H2
97 4 99° q
91
944
104 4107
97 Hj 99 4
122
124 4
101 105
1014 1014
106
97

100

95

100
101
100*8 10 1
10 2

137

4 102*12
137 4

9 6 4 10134
9641014

BONDS
BOSTON STOCK K X C H 'G E
WEKK ENDING JULY 20

Brice
Friday
Jjily 20

55

is l

Bid
Ask
........ 100 4
10078.........
....... . . . . . . .
97
98
103 ........
1174118
96
98
9 2 4 93
101 ........
100 ........
...... ......

Low
lliyh •Vo
i o i F o b ’ml
101 J ’l y ’06.1
128 4 J ’ ue’Ol
98 J’ne’ 06
105 4 Mar’0<i
11*7 HJ ’ly ’ r.
96 4 J ’ ly ’ (>6
93 '., J ’l v ’Ol.
100 Apr'O.
10 a:t4 J ’ly MO
115 A p r ’06
10 1 4 SCp ’ Of
1is May S' 1
7 0 U J ’ly ’Or
........ 76
17
19
194 J ’ ne’ Ot
...... ......
1734 A ug’05
75 J ’ne’03
102 4 A ug’O 1
......... 98
98 4 J ’l y ’ 06
100 4 Oct ’05
1014 F eb ’ 06
101 \ J ’ ne’ 06
10634 A p r’ 06

Illinois Stool debon 5s___1910 j - j
N on-convert deben 5 s ... 1913 A-0
In KailsAbSioux ( ’ 1st 7a.. 1917 A-O
Kan C Clin & Spr 1st 5 s ... 1925 A-O
Kan C Ft S & Gull’ 1st 7 s .. 1908 J-T)
KanO Ft Scott <& M 6 s ....1 9 2 8 M-N
Kan C M 6s B gen 4 s.......... 1984 M-S
Assented Income 5 s.......1984 M-S
Kan C & M Rv<fc BrUst 5sl929 A-O
Kan C St Jo 6s C U 1st 7 s ..1907 J-J
Maine Cent cons 1st 7 s ... 1912 A-0
Cans 1st 4 s .......................1912 A-O
Mara Hough <&Out 1st 68.1925' A-O,
M exican Central co'ns 4 s ..1911 j - j
ls tc o n s me o s .......... Jan 1939 •T’ ly
2 d cons inp 8 s ..........Jan 1989 J ’ ly
M idi Tel-Qp cons os tr reo.19‘29 J-J
Minne Gen Klee cchi g os 1929 J-J
N ew E ng Cot Yarn 5s---- 1929 F-A
N ew Eng Teleph 6 s .......... 1906 A -0
6 s ....................................... 1907 A -0
6 s ....................................... 1908 A -0
5 s .......................
1915 A -0
N ew England cons g 5s... 1945 J-J
Boston Term 1st 4 s .......1939 A -0
Old Colony gold 4 s .............1924 F-A
Oreg lly 6c Naw con g 4 s .. 1946' J-D
Oreg Sli Line 1st g 6 s ....... 1922 F-A
Repub Valley 1st s f 6 s ... 1919 J -J
Rutland 1st con gen 4 4 s . 1941 J-J
Rutland-Canadian 1st 4s 194 9 J-J
Savannah Elec 1st cons 5s. 1952 J-J
Seattle ELe'c 1st g 5 s........ 1930 F-A
Terre H aute Ele© g o s___1929 J-J
Torrington 1st g 5s.......... 1918 M-S
Union Pao R R & 1 gr g 4s. 1947 J-J
1st lien C911V 4 s ................ 1911 M-N
United Fruit conv gen 5s. 1911 M-S
U S Steel Corp 10-60 yr 5s. 1963 M-N
West End Street R y 4 s___1915 F-A
Gold 4 4 s ............................ 1 9 1 4 M-S
Gold debenture 4 s.......... 1916 M-N
Gold 4s............................... 1917 F-A
W estern Teleph & T el 6 s. 1932 J-J
W isconsin Cent 1st gen 4sl949 J-J
W isconsin V alley 1st 7 s.. 1909 J-J

2s ote —Buyer pays accrued interest in addition to the purchase price for all Boston Bonds.

Week's
Ban ye or
Last Sale

..........

1 0 , '4 ........

103

105

........ 1104
100 4 ........
100 4 ........
100 4 ........
1 0 0 4 sale

Bangs
Sines
January 1
Low
101

lliyh
io i 4

iop

1014

‘98 100
105 4 106
11 74 123 4
96 4 99 4
•JH * SH
100 104 4
100«4 1 0 2 4

115

115

7 5 4 84
19*4 'J5 4

97

1U0

1014 1014
1014 1014

104

107

1 0 1 4 A p r’06
1014 IOI**
H024 Jail ’05
11214 M ar’ 06
1121411214
103 J a n ’0<
103 103
107 4 N ov’ 05
102 M ai’02
98 4 May’06
98
98*3
105 J ’ne’06
105 io y
102 Dec *05
100 J a n ’ 06
100
ld o
11034 J ’ ly ’u6 . .. 102411044
1150 4 A p r ’06
1150 4 155l
109
109
2 107 1124
^]974 J ’ ly ’06.
1196 llOQfa
100 4 1 0 2 %
1004 J ’l y ’06
103
103
i 102 4 103 4
10241024
1024 J a n '06
101
101
1 101
1024
5 994103 4
100 4 100 4
*11944 Sep ’ 05
1094 A ug’ 05

* N o price F rid a y ; latest btd and asked.

U Flat price.

Philadelphia and Baltimore Stock Exchanges— Stock Record, Daily, Weekly, Y early
S h a re P rice s—Not P e r C entum P r ic e s
Saturday
J u ly 14

*154

M onday
J u ly 16

97 4 y7 4
*264

*97
♦27

28

*55
16*4 164

*55 4
164

167e

* 5 1 4 52*4 *514
394 334
334
1 1 4 114
114
8
8
*8
3 5 4 304
36 4
174 174
174
klu3 1044 104
7 0 4 71
71
62 4 6 2 4
48
48
8
-7 4
2 9 4 29*4
3«Loie
5811is
*45
46
*45
46
63 4 63 4
82 4

Tuesday
J u ly 17

624
48
715i6
29 4
584
*45
634
82 4

Wednesday
J u ly 18

*97
28
86
16

Thursday
J uly 19

28
86

28

164

16*4 164

Friday
J uly 20

B a ltim o re
Consolidated Gas
.100
50
* 9 7 4 98 Northern Central
*27 4 28 4 Seaboard (new )
100
” 85
87
Do 1st pref .
.100
*06
Do 2d pref
.100
68
*164 164 United R y & E le ctric.. 50

28

P H IL A D E L P H IA

Bid

A sk

In a ctiv e S to c k s
A llegheny Val p r e f___ot
American Cement....... It
7
Arner Gas of N J .......100 100 1004
Beil T eleph on e............50
564 57 4
49 \ 50
Cambria Iron ............... 50
Central Coal 6c Coke.iUu
Consol T rac of N J . .. 100
Diamond State s te e l.. 10
4
4
P r e fe r r e d ...................10
4
4
Easton Con E lectric 0 .50
67 4 69
Elec Storage Butt___lo o
P referred .................100
Ft W ayne <fcW V ...1U0
German town Pass.......5o ........ .........
Indianapolis S t.......... 100
Indiana Union T r ___100
224
Insurance Co of N A .. 10
InterSm P ow & Chem.50
28
Keystone Telephone ..5 0
11*8 114
Preferred
.. .
50
KeystoneW atchCase.100
Lit B rothers.................10
174 184
Little S chuylkill.......... 50
Minehiil <fc Schuyl H ..5 0
N Haven Iron 6c S teel.5 " 2 4 " ’I 4
Northern ( Je.rdrH1
ftd
North P en n sylvan ia..50
Pennsylvania Salt....... 50 i i s ” 115"
Pennsylvania S teel.. 100
P re fe rre d .................100
106 4
Plnla Co (Pitts) pref...50 *5 6 " 50 4
Phil German 6c N o rris.50
Phila T raction ............. 50 *984 * 9 9 "
7
Railways General.......l o
64
%
Susqueh Iron 6c S te e l..5
1
1.
Tidewater Steel.......... lo
7*
P r e fe r r e d .................. l<
24
........
Tonopah M ining of NevJ
18 4
........
Union Tr of In d ........ loo
United N J R K & C ..L 0 0
258
U nit T rac Pitts p ref..50
W arwick Iron & Steel. 10
64
W est Jersey & SeaSh.50
W estmoreland Coal___50
”9 5 '
W ilkes Gas do E le c ..100

524
344
114

Bid

P H IL A D E L P H IA
B on d s
A1 V al E ext 7s 1910 A -0
A lt cfeLVElec 4 4 s ’ 33.F-A
A m R y sco n v 5 s 1911.J-D
A tl City 1st 5s g ’ 19. M-N
Balls Ter 1st 5s 1926.J-D
Bergc&EBrw 1st 6s’ 21 J-J
Betlile Steel 6s 1998.Q-F
Che& D Can 1st 5 s ’ 16 J-J
Choc 6c Mo 1st 5s 1949 J-J
Ch Ok 6c G gen 5 s T 9 J-J
Col St R y 1st con os 1932
C o n T ra co fN J 1st 5 s.’ 33
E cfe A 1st M 5s 1920 M-N
Elec & Peo T r stk tr ctfs
Eq II Gas-L 1st g 5s 1928
II 6c B T op con 5s ’ 25 A -0
Indianapolis Ry 4a. 1933
Interstate 4s 1943 ..F -A
Lehigh N av 4 4 s T4.Q-J
R R s 4s g ....... 1914.Q-F
Gen M 4 4 s g. 1924.Q-F
Leh V C 1st 0.3 g '3 3 ..J-J
Leh V ext 4s 1st 1948. J-D
2d 7s 1910................M-S
Consol 6s 1923....... J-D
A nnuity 6s.............. J-D
Gen cons 4s 2 0 0 3 .M-N
Leh V T r a c 1st 4 s ’ 29. J-D
N ew Con Gas 5s 1948 J - D
N ewark Pass con os 1930
N Y Ph & N o 1st 4s '39 J-J
Incom e 4s 1 9 3 9 ...M-N
N oOhioTrac con 5sT 9. J-J
No Penn 1st 4s ’3 6 ..M-N
Penn gen 6s r 1910..V ar
Consol 5s r 1 9 1 9 ...Var
Penn 6c Md Steel con 6s.
Pa 6c N Y Can 5s '39.A O
Con 4s 1939............ A-O
Penn Steel 1st 5s T 7 M-N
People’ s Tr tr certs 4s ’43
P Co lsufc col tr 5s’49 M-S
Con<fc col tr 5s 1951 M-N
Pliil Elec gold trust ctfs.
Trust certifs 4s.............

* Bid and asked prices; no sales on this day.

^ Ex-rights.

A sk

P H IL A D E L P H I A

P & E gen M 5 g ’ 20.A-O
Gen M 4s g 1920..AcfcO
100*2 Ph & Read 2d 5s ’ 33. A -0
101
Con M 7s 1911...... J-D
100
Con M 6s g 1911__ J-D
Ex Im p M 4s g ’4 7 .A -0
101
Terminal os g 1941.Q-F
P W & B c o l tr 4s ’ 21. J-J
Portland R y 1st 5s 1930.
itoch Ry<fe L con 5s ’ 54J-J
105 *2 U Trac Ind gen 5s’ 19.J-J
108
Un Rys T r ctfs 4s’ 49J<fcJ
107
U Trac P it gen 5s ’97 J-J
W olsbach s f 5s 1930. J-D
99^, 99%
W lks-B G &E con5s’55J -J
B A L T IM O R E
In a ctiv e S to ck s
A la Cons Coai<& Iron. 100
P r e f............................100
Atlanta & Charlotte.. 100'
Atlan Coast Line RR. 100
Atlan Coast L (Conn) 100
1114 112
Canton C o................... 100
Cons Cot Duck C orp ... 50
i'li "
P re fe rre d ................... 50
1.237
Georgia Sou <fc F la ... 100
ih o "
1st p ref..................... 100
977
974
2d p ref.......................100
G-B-S B rew in g .......... 100

Lowest

82
15 97
100 27
60 86
56
2,500 15

P h ila d elp h ia
2
* 5 1 4 5 2 4 *514 52 American R ailw ays___ 50
34*8 34r4
344 34 4 Cambria S te e l............... oO 1,27 2
l l 7s H 7fl E lectric Co of A m erica 10 2,305
114 l l ’ e
9 Gen Asphalt tr ctfs .. 100
500
*84
*8
3 6 4 37
Do pref tr c t f s ___100 1,335
367e 37 4
364
18
.18 Lake Superior Corp___100 1,053
184
174 174
104 104 Lenigh C & N av tr ctfs. 50
190
105 *103 104
79
77
76
7 6 4 78 4 Lehigh V a lle y ............... 50 37,414
.......... 100
2 Marsden Co
*1 4
63
63
6338
624 6 3 4 Pennsylvania R R ......... 50 4,020
62^0211,8
62 4 624
48
148
4 7 4 474 Plnladelp’aCo (P ittsb ). 50
*474 49
4 7 4 48
4 7 4 474
" 7 7b 8
155
8
8 Philadelphia E lectric*. 25
*74
714c
8
*77e 8
2 9 4 29 4
29
29
-9*4
29 4 29 4
2 9 4 Phila Rapid T r a n s iti.. 50 1,840
294
f)Oy!0
604
60
59*8 60316 oy ^ ie 60 4
6 0 4 0115io R e a d in g ......................... 50 42,737
10
46
46
45
*‘45
45>i 454 x45 4 46 4
Do 1st p ref............ 50
46
"4 O
46
•45
46
Do 2d pi ef _
__ 50
*45
*■454 46 4
46
63 i4 0 3 4 63 *4 *63
63 4 63 4
63 4
63 4 634 Union Tract-on.............. 50 1,161
82 H> 83
83
8 2 4 83 4
83 4 83 4 United Gas Im pt.......... 50 6,108
82 4 82 7e
*25
29 Welsbach C o ................. 100

524
5 1 4 5 1 4 *514
34 4
34 4 34
34 4
114 l l 7fc 11°8
114
* 8*4
84
*8*4
37
36 4 *36
36 4
18
18
18
18 4
104
104 104 *103
735e 73*4 76 4
763a

Range lor Year
1906

Sales
of the
(F or Bonds and Inactive Week
Stocks see below)
Shares
A C T IV E S T O C K S

J’ne 7
J ’ly
J 3
J ’ly 12
J ’ ly 18
May 8
Jan 8

108% 109%
i l 8 4 119 4
io 3
109 V)
104 4
984
674

i 16
104 4
99

68

H$7.50 paid,

t $15 paid.

$ $10 paid.

92
1074
32
9 14
62 4
19

J’ne20
Jan 29
J an 17
M ar30
J an 5
Jan 15

Lowest

Highest

83 Mas 90 Apr
99 May 1104 Sep
2 1 4 J HI) 34 Dec
83 Mai 91 4 Nov
47 7g Jan 64 Dec
12 4 Api 18 Mar

M arl 5 54 Jan 27 48 Jan 5 4 4 Apr
Jan 5 374 Jan 24 244 May 32 Deo
May 9 12 4 Jan 10 1 0 4 Jan 12% Feb
8 4 Dec 174 Jan
J ’ly 11 14 Jan 4
J ’ly 10 48 Jan 19 36 Nov 49 Jan
J ’ly 13 234 Jan 15 14 4 May 2 5 4 Mar
May 2 118 Jan 19 1 0 0 4 J ’ ly 1234 Nov
May 2 86 J’ne 8 52 4 Jan 90 4 N ov
0 4 Jan
2 7e Dec
1 4 J ’ly 3 3 1Bie Jan 10
61% J ’ly 3 73H10 Jan 22 6513iq May 73% Aug
47 A pr 20 a54 4 Mar26 4 0 4 Jan 5 5 4 N qv
8 J ’ ne 12 4 A pr
7% Jan 11
8 4 Jan 15
24 J ’nel5 34 4 Jan 27 t 174 Jan $36 A pr
5 6 4 May 3 83 Jan 23 39% Jan 7113i0 N ov
43% A pr 16 4715io Jan 23 45 May 47% Aug
44 7n May 2 51 Jan 23 42 Jan 5 0 4 N ov
6 L4 Mar23 63 Jan 30 5 8 4 Mai 6 3 4 Oct
11814 May 16 101 Feb 15 90 J ’ ne 125% Apr
30 Jan b 32 Mar 1 20 Feb 31 N o V

B id

A sk

......

113 *6
108
104
122 4 124
101
100
......

85
113
70

964
.........

........

* 9 l " *9 3 "
180
135
340 350
90
95
30
9/
80
94

io

105 4 106 4
99 a
1 LO
90
UJ
103
110
102 4
110
115
117
116
114

H ighest

51
304
11
8
34
17
1014
65

i05“

B on d s
Anacostla 6c Pot 5 s..........
Atl 6c Ch 1st 7 ... 1907 J-J
A tlan C L R R 4 b 1952M-S
A tl Coast L(Ct)Ctfs 5s J-D
Ctfs of indebt 4 s ___J-J
5-20 yr 4s 1925.........J-J
Balt C Pass 1st 5s T 1 M-N
Balt Fundg 5 s .1916 M-N
Exchange 3 4 » 1930 J-J
Balt 6c P 1st 6s m 1 T 1 A -0
Balt T rac 1st 5 s ..’29 M-N
No Balt Div 5s 1942 J-D
Convertible o s .’06 M-N
Cent’ l Ry c o c o s l 932 M-N
Extcfe Imp 58.1932 M S

Range 1 or Previous
Year (1905)

"J9%
92
93
112
103 4
117
120

118 '

4 $20 paid.

B A L T IM O R E
Chas City R y l s t 5 s ’23J-J
Chas Ry G 6c El 5s ’99 M-S
Chari 06c A ext 5 s.’09 J-J
2d 7 s............... 1910 A-O
City <fc Sub 1st 5 s .. ’22 J-D
City 6c S u b (W a s)l8 t5 s’4S
Coal 6c I Ry' 1st 5 s ’ 20F-A
C ol& G rnv 1st 6s. 1916 J-J
Consol Gas 6 s ... 1910 J-D
5s......................1939 J-D
Ga 6c A la 1st con 5s ’45 J -J
G aC ar& N 1st 5s g ’29 J-J
Georgia P 1st 6 s ... ’22 J -J
GaSo 6c Fla 1st 5s 1945J-J
G-B-S Brew 3-4s 1951M-S
2d incom e 5s 1951 M-N
Knox v T rac 1st 5s ’ 2SA-0
LakeR El 1st ga5s’42M-S
M etSt(W ash)lst5s’ 25F A
M l V er Cot Duck 1st 5s.
I n c o m e s .........................
Npt NdbO P 1st 5s’38 M-N
General 5s— 1941 M-S
N orfolk St 1st os ’4 4 ..J-J
North Cent 4 4 s 1925 A -0
Series A os 1926---- J-J
Series B 5s 1926___J-J
Pitt U11 Trac os 1997.J-J
Poto Val 1st os 1941.. J -J
Sav Fla & W est 5s ’ 34 A -0
Seaboard A L 4s 1950 A -0
Scab & Roan os 1926. J-J
South Bound 1st 5 s.. A-O
U El L<feP 1st 4 4 « ’ 29 M-N
U11 Ry & El ls t4 s '49 M-S
Incom e 4s 1949.......J-D
Va MUl 1st 6s 1 9 0 6 ..M-S
2d series 6s 1 9 1 1 ...M-S
3d series 6s 1 9 1 6 ..M-S
4th ser 3-4-os 1921.M-S
5ih series 5s 1926.M-S
Va (State) 3s new ’32.J-J
Fund debt 2-38 1991 .J -J
W est N C con 6s 1914 J -J
W esV a C6cP ls tC g T l J-J
W ild ; Weld 5a.. 1935. J-J j
a Receipts.

b $25 pal l.

B id

A 8k

105
95
95 4
115
110
112 113
105 10 5 %
105
113
104 4 104 4
109 n o
109 109 4
10934
119 120 4
110% 1114
62
62 4
36 4 37 4
] 05
115
116
86
86 4
...... ......
95 100
......
105
108 . . . . . .
115 4 1 17
116 ____
110
115 117
108 H 110
87
81 %
114 . . . . . .
111
. . . . . . . - - •-•*
94
95
74
7*1%
........ ........
109 4
M m ........
110
111 ........
94 , ........
9 14
2 12 114
1 0 6 11»>7
116 |118

THE CHRONICLE

(4 8

[V O L . LXX X 1II,

I n m s t r a m i a n d J la ilto a d In t e ll ig e n c e .
R A IL R O A D

GROSS

EAR R iN uS.

The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly returns
can be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from July 1 to and including such latest week or month. We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with July, but covers some other
period. The returns oj the street railways are brought together separately on a subsequent page#
July 1 to Latest D ate.

Latest Gross E arnings.
W eek or
M on th .

Roads.

Current
Yea r.

Ala N O & Texas Pacific.
264,498
N O & N E a st. J u n e _____
108,572
Ala & V ick sb’g J u n e -------113,246
Vicksb Sh & P - J u n e _____
6.782.264
A tch T op & S F e . May ..........
A tlanta & Char__ A p r il______ 306,543
110,805
A tlantic & B irin. M a y -------A tl Coast L ine___ May _____ 2,250,905
6,572,814
J
u
n
e
____
_
Balt <fc O h io -.,__
213,279
Bangor & A roost. M a y _____
5,416
Bellefonte Central J u n e _____
3,897
Bridgt & Saco R_ M a y -------113,743
Buff R och & Pitts 2d wk July
110.963
Buffalo & S u sq_. M a y -------135,222
Cal Northwestern J u n e _____
135,700
Canadian N orth . 2d wk July
Canadian P acific. 2d wk July 1,326,000
214.600
CentT of G eorgia. 2d wTk July
Cent’l of N Jersey M a y _____ 1.736.264
3,379
Chattan Southern 1st wk July
Chesap & O h io .. M a y -------- 2,196,342
2,872
C hesterf d & Lane M a y _____
822,121
Chic & A lton R y_ May _____
165.455
■Chic Gt W estern . 2d wk July
110,312
Chic Ind & Louisv 1st wk July
C hicM ilw & S t P_ May _____ 4,340,243
Chic & North W . May _____ 5 ,0 9 8 4 8 0
954,687
Chic St P M & 0 _ M a y _____
33,492
Chic Term Tr R R 2d w k July
180,431
Colorado Midland M a y _____
218,106
h Col & South Sys 2d wk July
25,094
Col Newb & Lau_ M a y _____
55,543
Copper R ange___ A p r il_____
17,470
Cornw all_________ M a y _____
35,011
Cornwall & Leb . _ M a y _____
370.600
Denver & R io Gr_ 2d wk July
22,349
D et & M ackinac. 2d wk July
64,459
D et T ol & I t S y s. 1st wk July
29,183
Dul R L & W innip M a y _____
61,166
Dul So,Sh & Atl_ 2d w k July
E rie______________ M a y _____ 4,102,434
1,343
Fairchild & N E_ M a y -------56.532
F on Johnst & Gl_ M a y _____
223,141
Georgia R R _____ M a y _____
793,055
Gr Trunk System 1st wk July
131.964
Gr Trunk W est 4th wkJune
48,504
D et Gr H & M . 4th wkJune
66,763
•Canada A tla n . 4th wkJune
Great N orthern . _ J u n e ____ _ 4,423,290
250,542
Montana Centd J u n e _____
T otal system __ J u n e _____ 4,673,832
44.533
Gulf & Shiplsland 1st wk July
468.455
H ocking Valley __ M a y _____
Illinois Central _. J u n e _____ 4,339,009
24,455
Illinois Southern. J u n e _____
118,500
Int & Gt N orth’n 2d wTk July
131,090
a In teroc (M e x )._ 2d w k July
55,008
Iow a Central____ 2d w k July
177,630
Kanaw ha & Mich M a y _____
765,652
K an City Sotifh’n M a y _____
Lehigh V alley___ M a y _____ 2,418,335
51,036
L exing & E ast’n . M a y _____
In c. 85
L ong Island_____ M a y _____
105,308
Louisiana & A rk . M a y _____
851,115
L ouisv & N ash v. 2d wk July
11,259
M acon & B irm ___ J u n e _____
40,304
Manis & N o E a st. M a y ______
14,461
M anistique______ J u n e _____
27,688
Maryland & Penn J u n e _____
2,500,372
a M exican Cent’1. A p r il_____
101,070
a M exican Intern 2d wk July
161,800
a M exican R y ___ 4th wkJune
32,891
a M exican S ou th . 4th wkJune
8,133
Millen & S ou th w . February .
14,206
Mineral R an ge___ 2d wk July
69,570
Minneap & St L__ 2d wk July
220,356
M St P <fe S St M_ 2d wk July
Mo K an & T exa s. 2d wk July 376,551
820,000
Mo P ac & Iron Mt 2d wk July
30,000
Central Branch 2d wk July
2d wk J u ly , 850,000
T o ta l_______
106,133
b Mob Jack & K C M a y _____
995,199
Nash Ch & St L _ _ M a y _____
268,481
N at R R of Mex__ 2d wk July
17,138
H idalgo & N E 2d wk July
7,856
N evada Central __ M a y ___
22,574
N e v -C a l-O reg on . J u n e ___
554,410
N Y Ont & W est. May ___
204,427
N Y Susq & W est M a y ___
2,557.207
N orfolk & W est’ n M a y ___
961,065
Northern Central May - _ .

Previous
Y ea r.

Current
Y ea r .

P revious
Yea r.

$
237,665 3,001,974
99,631 1,380,264
102,280 1,302,222
5,845,280 71,596,869
293,680 3,417,933
81,546 1,025,814
2.022.103 22,715,537
5.768.103 77,392,056
189,473 2,280,260
59,137
5,634
42,894
4,433
204,012
173,078
104,348 1,417,196
149,516 1,607.635
273.900
91,800
1,024,000 2,645,000
197.900
433,620
2,113,292 21,883,888
2,142
3,379
1,802,480 22,406,431
35,637
2,670
852,282 10,674,535
310,009
140,259
110,312
107,025
3,900,554 50,649,320
4,603,857 57,684,352
888,973 11.859,576
62,772
32,533
164,697 1,958,009
448,289
199,155
271,445
18,465
560,914
50,572
187,644
21,683
408,042
33.369
718.900
344.900
19,994
43,379
64,459
58,189
13,824
128,621
56.369
4,135,108 45,500,600
2,344
20,621
692,-173
55,325
197.322 2,643,353
735,928
793,055
99,096 5,353,953
36,498 1,579,562
58,753
3,560,945 49,505,383
191 ,221 2,754,304
3,752,166)162,259,687
42,886
44,533
526,486 5,907,920
4,110,694 51,675,026
26,432
336,556
110,200
211,900
109,313
257,770
51,986
106,001
156,538 1,960,867
602,860 7,090,909
2,781,731 29,616,993
47,313
481,513
7nc.709,
,470
84,102
956,461
767,090 1, 612,200
9,772
147,359
39,959
387,173
14,112
102,238
26,088
360,300
2,270,240 23.315.446
141,116
237,119
160,000 6-,639,200
29,057 1,209,107
6,015
59,379
14,093
25,393
67,955
135,081
170,252
437,603
. 336,646
721,517
749.000 1.428.000
37,000
60,000
786.000 1.488.000
58,522 1,033,352
855,427 9,992,461
224,321
531,654
35,592
3,184
54,438
21,041
281,736
669,634 6,562,584
245,663 2,506,313
2,223,003 26,009,720
956,565 10.084.446

2,563,773
1,358,041
1,424,023
62,495,232
3,098,189
919,381
20,190,184
67,689,998
1,967,152
57,301
42,391
346,155
1,028,886
1,541,199
175,500
2,027,000
399,300
20,673,526
2,142
18,877,813
30,726
10,880,982
272,208
107,025
45,643,488
50,700,457
10,936 050
63,177
1,801,815
406,873
216,872
504,649
89,802
256,099
659,400
39,324
58,189
112,849
41,396,863
34,346
647,852
2,289,524
735,928
5,019,611
1,412,953
41,608,430
2,385,602
43,994,032
42,886
5,485,541
49,508,650
278,929
198,800
226,542
101,039
1,613,296
6,486,959
28,288,373
425,151
137
765,533
1,471,490
134,032
393,728
89,044
323,571
21,418,238
234,430
6,085,040
1,177,578
52,521
25,250
131,884
331,447
638,394
1.349.000
72,000
1.421.000
627,745
9,282,443
444,457
~ 3 2 ,o i2
221,182
6,416,725
2,485,705
21,920,415
9,472,246

'July 1 to Latest D ate.

Latest Gross E arnings.
Roads.

W eek or
M onth.

Current
Yea r.

N 57 C & Hud R iv J u n e _____
L S & M S _____ J u n e _____
Lake E & W est J u n e _____
Chic Ind& Sou l J u n e _____
Mich Central __ J u n e _____
C C C & St L . _ J u n e _____
Peo & E astern. J u n e _____
Cin N o rth e rn .. J u n e _____
Pitts & Lake E J u n e _____
R u tla n d ____
J u n e _____
N Y Chic&St. L J u n e _____
Northern Pacific J u n e _____
Ohio R iv & West February _
Pacific Coast Co _. M a y -------dPenn - EastP &E M a y _____
cZWest P & E__ M a y _____
Phila Balt & W ’ sh M a y _____
Phila & E rie____ M a y -------Pittsb C C & St L M a y -------Raleigh & S ’port J u n e _____
Reading Railway M a y _____
Coal & Iron Co M a y _____
T otal both cos_ M a y _____
Rich Fr'ksb & P . M a y -------A p r il_____
R io Grande Jet
R io Grande S o ___ 1st wk July
R ock Island S y s. M a y _____
St Jos & Gr Isl___ M a y _____
e St L & San Fran M a y _____
St L Southwest __ 2d wk July
Seaboard Air Line M a y -------Sierra Railw ay __ J u n e _____
Southern Indiana J u n e _____
c So Pacific C o___ February _
Southern & y k ___ 2d wk July
Mobile & O hio. 2d wk July
Cin NO & TexP 1st wk July
Ala Great S ou . 1st wk July
Ga South & Fla J u n e _____
Texas Central___ 1st wk July
Texas & Pacific _ _ 2d wk July
T e x S V & N W__ February .
Tidewater &W e s t. M a y -------T ol & Ohio C ent. M a y _____
T o lP & W e st____ 2d wk July
T ol St L & W ____ 2d wk July
Tom bigbee Valley M a y _____
T or H am & Buff _ J u n e _____
Un Pacific System A p r il_____
Virginia & So W Jn J u n e _____
W a b a s h _________ 2d wk July
W esternMaryland 2d wk July
West Jersey & S'e May _____
W heeling & L E . 2d wk July
W 'm sport & N Br M a y _____
W isconsin Central1M a y _____
W rights & T enn . M a y ____ _
Y a zoo & Miss Val J u n e _____
V arious Fiscal Y ears.

P revious
Year.

Current
Year

P revious
Year.

&
S
7,649,645 7,053,861 89.785,260 81,289,967
3,557,298 3,150,847 41,040,962 36,189,749
402,461
398,560 5,273,302 4,962,351
169,409
155,538
2,173,443 1 ,900,423
2,039,791 1,928,578 23,649,295 22,372,312
216.798 3,115,375 2,834,424
257,607
75,628
94,258
1,359,776 1,083,466
227,018 2,687,664 2,494,365
257,801
791,631 | 711,696 9 651,818 8,651,046
5,315,912 4,476,388 62,140,410 51,729,362
12,342
155,824
135,159
16,231
523,516 5,820,565! 5,580,119
458,348
11859 033 11422133 129956 680| 112016280
In c. 8,40 8,700
Inc 55 4,100
1,364,458 1,346,358 13,832,932 12,834,832
732.799 7,557,037 7,100,935
679,321
2,408,189 2,117,589 25,918,922 22,788.028
4,374,
49,637
64,282
5,695
3,289,052 3,550,477 36,959,117 34,004,155
2,773,783 3,642,048 30,769,300 33,363,716
6,062,835 7,192,525 67,728,417 67,367,871
208,267
200,710 1,585,496 1,426,419
469,296
47,798
49,393
554,563
8,107
8,107
9,793
9,793
3,498,374
3,926,801
47,062,537 40,289,095
124,266
116,265 1,407,667 1.172,472
3,181,663 3,022,486 38,626,399 35,319,478
307,742
156,978
162,264
329,011
1,296,726 1,221,594 13,898,126 12,439,407
31,958
36.377
106,748 1,456,256 1,380,326
132,797
8,001 ,844 6,581,998 69,786.157 63,240,992
927,086 1,932,472 1,778,828
1,016,070
146,026
275,042
167,194
322,723
120,752
120,752
148,335
148,335
60,361
60,361
61,491
61,491
149,996
144,511 1,928,773 1,714,701
11,525
13.377
11,525
13,377
174,216
208,042
342,130
401,575
8,700
13,000
8,206
81,257
82,704
9,580
268,832 3,752,124 3,448.959
258,051
43,642
22,272
23,223
42,888
132,044
61,794
67,476
142,816
3,797
5,560
660,226
66,242
54,249
749,248
4,781,682
56,107.329 49,388,318
5,339,805
680,421
70,388 1,008,915
8S,140
501,152
819,379
403,490
950,49S
168,132
88,843
106,538
198,560
401,150 350,850 4,512,734 3,946,834
108,002
189,873
103,407
186,478
14,908
12,868
154,807
161,1S9
594,899 6,506,698 6,085,119
602,403
178,484
12,531
12,703
191,898
564,348 8,665,499 8,670,246
710,416
P eriod

Current
Yea r.

P reviou s
Yea r.

S6S6 464
S653.930
Atlanta & Chari Air L in e____ Mch 1 to Apr 30
27,984
29,480
Bellefonte C e n t r a l_________ Jan 1 to June 30
a Interoceanic o f M exico____ Jan 1 to July 14 3,751,821 3,458,257
Manistee & N orth E astern___ Jan 1 to Apr 30
157,578
169,159
41,595
Jan 1 to June 30
51,157
Manistique _____ __
______
a Mexican International_____ Jan 1 to Julv 14 4,268,980 3,476,911
3,131,100
a Mexican R a ilw a y _________ Jan
1 to June 30 3,477,300
617,892
631,821
a M exican Southern. _______ Jan 1 to June 30
Jan
National R R of M exico _ _ _
1 to July 14 7,915,398 6,554,802
Jan 1 to June 30 42,879,224 39,189,563
New Y ork Central __
Lake Shore & Mich South _ _ Jan 1 to June 30 20,607,096 18,166,944
Jan 1 to June 30 2,525,379 2,2S9,371
Lake Erie & W estern
l Chicago Ind & Southern _ _ Jan 1 to June 30 1,146,263 1,036,873
Michigan C e n t r a l________ Jan 1 to June 30 12,619,142 10,727,159
Clev Cin Chic & St L ou is___ Jan 1 to June 30 11,362,518 10,231,023
Peoria & S y stem _ . _ Man 1 to June 30 1,461,556 1,306,904
475,761
379,649
Cincinnati N orthern .
_ _ Jan 1 to June 30
Pittsburgh & Lake E rie— Jan 1 to June 30 7,047,156 6,053,292
Rutland __ _ _ ______ Jan 1 to June 30 1,267,868 1,142,292
N Y Chicago & St L ouis___ Jan 1 to June 30 4,885,999 4,342,910
Northern Central
_ ______ Jan 1 to M ay 31 4,434,692 4,062,392
1 to May 31 57,466,162 50,566,762
d Penn— East o f Pitts & E — Jan
In c .3 ,6 6 8,800
1 to May 31
d W est o f Pitts & E_ _ __ Jan
Phila Baltimore & W a sh _____ Jan 1 to May 31 6,148,994 5,804,094
Philadelphia & E r ie ..
— Man 1 to May 31 2,925,379 2,893,290
Pitts Cin Chic & St L ou is____ Jan 1 to May 31 11,709,710 10,297,583
205,577
246,218
R io Grande J e t. --------------- . Dec 1 to Apr 30
Texas & Pacific _ _ ------ Jan 1 to July 14 6,973,878 5,988,115
W est Jersey & Seashore-------- Jan 1 to May 31 1,669,428 1,414,628

AGGREGATES OF GROSS EARNINGS— Weekly and Monthly.
M onthly Sum m aries.

Cur'nt Year P rev.

Year

In c. or D ec.

%

M on th ly Sum m aries.

Cur'nt Year Prev.

Year

In c. or D ec.

g
4-13,414,321
4-15,571,442
417,259,521
4 26,424.633
4 29,761,285
415,280,450
48,679,762
-r 13,625,870
4 8 ,5 0 3 ,6 7 0

%

S
3
%
8.54
1905 (115 rds) 170,515,148 157,100,827
Month Oct
4-1,186,347 15.19
10.35
150,405,695
L65,977,137
1905
(115
rds)
41,0 1 0 ,3 6 7 13.82 Month N ov
12.15
1905 (113 rds) 159,312,944 142,053,423
Month Dec
4-1,681,608 14.01
20.88
1906 (117 rds) 152,980,485 126,555,852
4-1,057,424 13.82
M onth Jan
26.36
1906 (118 rds) 142,656,542 112.895,257
Month Feb
4-928,203 11.60
10.61
M onth Mch 1906 (110 rds) 159,25S,S90 143,978,440
4-1,168,334 14.13
6.78
1906 (111 rds) 136,685,537 128,005,775
Month Apr
4-1,784,017 16.12
9.83
M onth May 1906 (124 rds) 152,183,742 138,557,S72
4 9 3 5 ,2 9 4 12.02
13.24
4-922,955 12.91
Month June 1906 (67 rds) 72,708,902 64,205,232
a Mexican currency,
b In clu d es earnings o f Gulf & Chicago Division, c Includes the H ouston & Texas Central and its subsidiary lines in both
vears. d Covers lines directly operated, e Includes the Chicago & Eastern Illinois in both years, h Includes earnings of Col. & S ou th ., F t.
W orth & Denver City and all affiliated lines, k Atlanta K noxville & Northern included in both years since April 1; it had previously been
included in 1905 since Jan. 1: earnings o f Transylvania Railroad included from Jan. 1 1906 and o f East Division of Tennessee Central from D ec. 1
in 1905 only. I Figures prior to April 10 1906 are those o f j b e Indiana, Illinois & Iow a and Ind. H arb. of Indiana.

2nd
3rd
4th
1st
2nd
3rd
4th
1st
2d

week
week
week
week
week
-week
week
week
week

May
May
May
June
June
June
June
July
July

(42
(39
(39
(40
(41
(42
(41
(43
(30

roads) __
ro a d s)...
ro a d s). _
roads) __
roads) __
ro a d s )__
roads) __
roads)
roads) __

%

8,994,872
8,320,006
13,682,041
8,709,804
8,929,516
9,439,080
12,852,048
8,716,922
8,071,573

%

7,808,525
7,309.639
12,000,433
7,652,380
8,001,313
8,270,746
11,068,031
7,781,628
7,148,618

THE CHRONICLE.

Latest Gross Earnings by W eeks.— In the table which
follows we sum up separately the earnings for the second
week of July. The table covers 30 roads and shows 12.91%
increase in the aggregate over the same week last year.

Buffalo Rochester & Pittsb..
Canadian Northern-------------Canadian Pacific___________
Central of Georgia__________
Chicago Great Western,.........
Chicago Terminal Transfer__
Colorado it Southern unci Ft
Worth & Denver City)___
Denver & Rio Grande_______
Detroit & Mackinac.... ............
Duluth South Shore <fc Atl__
International & Gt Northern.
Interoceanic of Mexico______
Iowa Central________________
Louisville & Nashville_______
Mexican International______
Mineral Range______________
Minneapolis it St Louis______
Minn St P & S S M __________
Missouri Kansas it Texas___
Missouri Pacific it Iron Mtn_.
Central Branch___________
Mobile it Ohio______________
National of Mexico_________
St Louis it Southwestern__
Southern Railway__________
Texas Pacific__ ____________
Toledo Peoria it Western___
Toledo St Louis it Western__
Wabash____________________
Western Maryland__________
Wheeling & Lake Erie_______
Total (31 road s)_____
Net increase (1 2 .9 1 % ).

1905.

Increase. Decrease.

113,743
135,700
1.326,000
214.000
165,455
33,492

173,078
91,800
1,024,000
197.900
140,259
32,533

218,106
370,600
22,349
01 100
1 IS,500
131.090
55,008
851,115
101,070
14,200
09,570
220,356
376,551
820.000
30,000
167,194
208,481
162,264
1,016,070
208,042
22,272
67,476
501,152
106,538
103,407

199,155
344.900
19,994
56,369
110,200
109,313
51.9S6
767,090
141,116
14,093
67,955
170,252
336,646
749,000
37,000
146,026
224,321
156.978
927,086
174,216
23,223
61,794
403,490
88,843
108,002

8,071,573

-------------- -----------$
59,335
43,900
302,000'
10.700
25,1961
959 j
18,951
25.700
2,355
4,797
S.300
21,777
3,022
S4.025
113
1,615
50,104
39,905
71,000
21,168
44,160
5,286
88,984
33,826
5,682
97,662
17,695

7,148,618 1,034,882
922,955

40,046

a -7,000

951

£4,595
111,927

For the first week of July our final Jstatement covers 43
roads and shows 12.02% increase in the aggregate over the
same week last year.
First week of J u ly.

1906.

1905,

Previously reported (35 r d s )..
Alabama Great Southern____
Chattanooga Southern______
Chicago Indianap & L o u is v ..
Cinc N O & Tex P a c__________
Detroit Toledo & Iron ton ____
Duluth South Shore & A tl___
Gulf & Ship Island___________
Texas Central________________

S
8,203,581
61,491
3,379
110,312
148,335
64,459
67,455
44,533
13,377

$
7,322,268
60,361
2,142
107,025
120,752
58,189
56,480
42,886
11,525

Total (43 road s)_____
Net increase (1 2 ,0 2 % ).

8,716,922

7,781,628 1,024,466
935,294

Increase. Decrease.

S
970,485
1,130
1,237
3,287
27,583
6,270
10,975
1,647
1,852

%

89,172

89,172

Net Earnings Monthly to Latest Dates.— The following
shows the gross and net earnings to latest dates of all STEAM
railroads furnishing monthly statements. The compilation
includes every road from which we can get a return of this
character, and in that form is given once a month. Early
returns are published from week to week, as soon as issued,
but for the convenience of our readers all the roads making
returns are brought together here in the week in which we
publish our monthly article on net earnings,— say about the
2 0 th of the month.
-Gross E a rn ’g sCurrent
Previous
Year.
Year.

Current
Year.

-N e t E arningsCurrent
Previous
Year.
Year.

Roads.
S
8
S
-8
A t c h T o p & S F e _ b -._ M a y 6,782,264 5,845,280 d 2 , 440,927 d l , 774,913
Ju lyl to May 3 1 ____71,596,869 62,495,232d26,942,243d21,165,643
Atl & Char Air L . a __ Apr
306,543
293,680
25,972
42,783
Mch 1 to Apr 3 0 ____
686,464
653,930
142,267
173,263
Atl & Birmingham, a .M ay
110,805
81,546
33,043
18.663
Ju lyl to
May 3 1 _ 1,025,805 919,381
268,909
269,843
Atlantic Coast L in e.a .M a y 2,250,905
2,022,103
649,907
727,281
Julyl to May 3 1
22,715,537 20,190,184 7,272,605 7,313,407
Balto & Ohio . b _______ lune 6,572,814 5,768,103 2,351,500 1,854,804
J u ly l to June 3 0
77,392,056 67.689,998 27,876,836 22,979,395
62,504
Bangor & A r o o s .b __ May
213,279
189,473
76,811
712,675
Julyl to May 3 1 ____ 2,280,260 1,967,152
865,813
Bellefonte C entral.b.Ju ne
5,416
2,027
1,421
5,634
Jan 1 to June 3 0 ____
27,984
9,151
29,480
5,640
Bridget. & Saco R iv .b .M a y
3,897
1,795
4,433
1,033
13,200
13,184
July 1 to May 31 . . .
42,894
42,391
269,241
42,606
Buff Roch & P itt s .b ..M a y
387,553
769,447
Julyl to May 31 ____ 7,338,259 7,425,042 3,072,010 2,803,940
Buffalo & S u sq .a ____May
110,963
39,170
34,842
104,348
Julyl to May 3 1 ____1,417,196
340,583
504,496
1,028,886
39,754
California N orthw .a Mav
115,200
130,271
15,491
357,262
Julyl to May 31 . . . 1,472,413 1,391,683
507,443
Canadian N orthern__ May
610,100
100,600
349,400
212,500
Julyl to May 3 1 ____ 4,951,000 3,482,900 1,698,300 1,126,200
Canadian P a cific.a . . .M ay 5,579,003 4,229,131 2,187,663 1,387,935
July 1 to May 3 1 ____56,192,407 46,051,854 21,035,263 13,972,158
Central of G eorgia.a _ .M ay
875,087
152,701
763,552
208,295
Ju lyl to May 3 1 ____10,546,860 ft,384,095 2,959,374 2,493,083
Central of N’ J . b
.M ay 1,736,264 2,113,292
977,924
746,663
July 1 to May 31
.21,883,888 20,673,526 10,195,819 9,836,862
ChattanoogaSouth.a.May
12,727
def 519
9,938
505
Julyl to May 3 1 ____
7,050
125,678
110,686
9,031
Chesapeake & O h io .b . May 2,196,342 1,802,480
658,665
843,590
Julyl to May 3 1 ____ 22,406,431 18,877,813 8,827,410 6,760,306
Chesterfield & Lancas.M ay
2,872
946
824
2,670
9,967
July 1 to May 3 1 ____
35,637
30,726
14,590
Chicago <fe A lt o n .a ...M a y
822,121
233,142
852,282
135,309
July 1 to May 3 1 ____ 10,674,535 10,880,982 3,112,176 3.574,610
166,482
Chic Great W e s t .b ...M a y
720,365
609,812
199,699
Julyl to May 3 1 ____ 8,126,927 7,006,536 2,340,197 2,017,361

Ham’as------P r oious
i car.

------ Net Earnings — :—
Current
Year.

Previous
Year.

$
$
Chic Ind it L o u isv .a .M a y
510,841
496,973
157,720
170,350
t .j Ju lyl to May 3 1 ------ 5,423,045 5,120,196 1,831,980 1,813,485
Chic Mil & St P a u l.a .M a y 4,340,243 3,900,554 1,043,782 1,058,348
Julyl to May 3 1 ____ 50,649,320 45,643,488 16,848,926 16,161,860
Chicago Term Trans. bMeli
148,267
119,362
34,719
33,933
July 1 to Mch 3 1 ___ 1,301,069 1,135,260
461,594
411,313
Cine N O & Tex Pac— See Southern R; f System b elow .
Colorado M idland.a .M ay
180,431
164,697
38,601
17,134
.-Julyl to May 3 1 ____ 1,958,009 1,801,815
488,174
284,898
Colorado & S ou th .a .M ay
954,548
821,899
234,258
146,539
8,751,136 3,215,555 2,045,922
Julyl to May 3 1 ____10,880,763
Colum biaN ew& Lau.a.M ay
25,094
18,465
2,311
169
J u ly l to May 31-----271,445
216,872
50,576
40,263
Copper R a n g e .a _______ Apr
55,543
50,572
17,073
22,114
560,914
July 1 to Apr 3 0 ____
504,649
225.433
200,932
Cornwall, a ___________May
17,470
21,683
8,448
10,759
July 1 to May 3 1 ____
187,644
89,802
95,782
35,398
Cornwall & L e b .b — May
35,011
33,359
16,105
17,803
fiih Ju lyl to May 31408,042
256,099
220,085
112,053
Denver & Rio G r .b _ .M a y 1,702,482 1,447,360
653,321
538,156
Julyl to May 3 1 1 7,903,662
15,489d33 6,896,571 6,201,725
15,489,133
Detroit & M a ck .a _____May 104,727
83,536 mdef 3,064
77*9,278
Ju lyl to May 3 1 ____ 1,049,695
904,188 77*141,513 77*264,270
Det Tol & Iron ton . b . .M ch
347,597
277,781
121,400
67,910
July 1 to Mch 3 1 ____ 3,158,834 2,628,109 1,070,819
598,400
Dul R L & W innipeg.M ay
29,183
13,824
14,092
4,700
Jan 1 to May 3 1 ____
142,112
88,369
63,679
28,776
Dul So Sh & A t l .b ___ May 269,726
88,421
252,279
62,695
Ju lyl to May 3 1 _____ 2,781,517 2,451,898
911,114
790,905
E r ie .a ______________
May 4,102,434 4,135,108 1,382,267 1,319,214
Ju lyl to May 3 1 ____45,500,600 41,396,863 12,984,053 10,891,930
Fairohild & N o rth e .b .M a y
1,343
2,344
def 223
545
Julyl to May 3 1
20,621
34,346
10,859
5,039
Fonda Johns & G lo v .a —July 1 to May 3 1 ____
692,173
647,852
322,606
303,621
Georgia R R . a ________ May 223,141
197,322
42,771
50,711
Ju lyl to May 3 1 ____ 2,643,353 2,289,524
679,006
754,599
Georgia So & Fla— See under Southerr t R y System below.
Grand.Trunk of Canada—
GrandjTrunk R y ___ May 2,706,747 2,463,422 1,039,971
900,303
Julyl to May 3 1 ____ 27,918,134 25,933,089 8,113,428 7,600,011
Grand Trunk W est.M a y
400,512
357,687
57,911
36,498
Ju lyl to May 3 1 ____ 4,912,681 4,686,339
787,992
691,074
Det Gr Hav & Milw.May
106,089
83,217
6 813
973
Ju lyl to May 31------ 1,455,686 1,319,380
385,734
341,877
Canada A tla n tic ...M a y
190,280
176,653
27,739
63,264
Gulf & Ship Island, a .M ay
201,242
163,061
66,060
46,347
Julyl to May 3 1 ____ 1,953,784 1,710,831
629,339
429,343
Hocking V a lle y .a ____May
468,455
526,486
131,326
162,156
Ju lyl to May 3 1 ____ 5,907,920 5,485,541 2,074,745 1,767,199
Illinois C entral.a____May 4,258,971
3,821,078
999,069
657,174
July 1 to May 3 1 ____ 47,336,017 45,397,956 14,154,748 13,264,669
Interoceanic o f M e x ..M a y
646,962
527,143
226,483
108,256
Jan 1 to May 3 1 ____ 2,877,828
2,720,641
936,897
657,163
Iowa C entral.a______ May
229,462
207,375
1*47,091
1*39,827
Ju lyl to May 3 1 ____ 2,716,522
2,361,370 7*696,704 7*399,009
Kanawha & M ich .a _.M a y
177,630
156,538
35,518
31,393
Julyl to May 3 1 ____ 1,960,867
1,613,296
493,075
222,170
Kan City S ou th ern.a.M ay
765,652
602,860
248,112
119,075
Ju lyl to May 3 1 ____ 7,090,909
6,486,959 1,771,067 1,597,132
Lehigh V a lle y .b _____ May 2,418,335
2,781,731 o846,639 o l , 079,687
Ju lyl to May 3 1 ____29,616,993 28,288,3 7 3 o ll,013,6 8 7 oll,1 5 9 ,482
Lexington & East_b_ .M ay
17
25,814
51,036
47,313
Julyl to May 31____
210,342
138
481,513
425,151
Long Island, b _______ May
I n c . 85,470
D ec. 34,359
Ju lyl to May 31____
I n c . 709,137
D ec. 294,485
Louisiana & Ark . a __ May
84,102
30,541
36,
105,308
294
Ju lyl to May 3 1 ____
956,461
765,533
339,551
Louisville & N a sh .b _.M a y
961,521
811,
,839,512 3,206,274
Julyl to May 3 1 ____3 ,359,116 35,787,701 11,262,551 11,320,
14,
40,304
17,130
Manistee & N o rth e .b .M a y
39,959
77,
71,326
Jan 1 to May 3 1 ____
197,537
209,463
14,112
9,300
Manistlque_______ b .J une
5,
14,461
19,035
Jan 1 to June 3 0 ____
41,595
6,
51,157
7,433
7,
26,088
Maryland & P en n a .a .J u n e
27,688
100,
120,221
323,571
July 1 to June 30____
360,300
878,
893,239
,500,372 2,270,240
July 1 to Apr 3 0 ____2 ,315,446 21,418,238 7,123,432 6,887,
214,
552,386
303,655
Mexican Internat’l __ May
737,121
Jan 1 to May 3 1 ____
,386,649 2,717,159 1,473,793 1,041,
1,
2,108
Millen & S o u th w .b __ Feb
6,015
8,133
12,
15,948
July 1 to Feb 2 8 ____
52,521
59,379
8,
62,121
16,503
Mineral Range, b _____ May
62,160
157,
153,682
627,040
Julyl to May 3 1 ____
681,617
k75,
253,521
fc82,587
Minneap & St L ouis.a.M ay
304,661
fc996,
Ju lyl to May 3 1 ____
,399,992 2,765,510 k 1,279,029
246,
380,896
Minn St P & S S M b May
937,266
672,967
,558,762 7,925,773 5,364,369 3,837,
447,
468,452
,687.740 1,667,725
July 1 to May 3 1 ..
,539,660 18,642,912 5,287,315 4,894,
,827,063 3,511,290 1,361,758 1,057,
,961,914 39,847,232 13,211,141 12,216,
Mobile & Ohio— See under Southern R y System below.
175,063
Nash Chat & St L . b May
243,281
855,427
995,199
Julyl to May 31
9,992,461
9,282,443 2,479,156 2,391,705
373,801
507,100
National R R of Mex . May 1,272,109 1,073,496
Jan 1 to May 31
6,013,407 5,099,630 2,381,621 1,646,178
10,573
10,150
20,769
Nevada Cal & O r e .a .. May
20,515
90,702
90.395
Julyl to May 31 ____
200,141
209,162
1,241
4,201
7,856
3,184
Nevada Central b . May
12,075
29,800
32,012
Julyl to May 31
54,438
224,110
160,865
669,634
N Y Ont & W est, a . May
554,410
Julyl to May 31 ____ 6,562,584 6,416,725 1,755,916 1,813,200
86,572
76,097
245,663
N Y Susq & W est. a May
204,427
868,629
759,073
Julyl to May 31
2,506,313 2,485.705
865,156
Norfolk & Western b May 2,557,207 2,223,003 1,003,333
Julyl to May 31 ____26,009,720 21,920,415 10,466,490 8.588,490
216,507
272,707
956,565
Northern Central, b . May
961,065
457,369
857,469
Jan 1 to May 31 ____ 4,434,692 4,062.392
2,486
5,620
12,342
Ohio Riv fc West a
Feb
16,231
24,249
23,974
135,159
July 1 to Feb 28 ____
155,824
Roads.

_

1906.

Second iccck of Ju ly.

149

_

J u l y 21 luoG.

150
££ '•
£3 •

•

THE CHRONICLE
------- Gross Earn*gs ------- *------- N et E arnings ------Current
Y ea r.

P reviou s
Y ea r.

R oad s.
$
$
Penn Lines, directly oper—
East o f Pitts & lir ie .M a y ll ,859,033 11,422,133
Jan 1 to May 3 1 ____57,466,162 50,566,762
.5 4 ,1 0 0
W est o f Pitts & E _ _ Ma y
In c.
In c. 3, 668,800
Jan 1 to M ay 3 1 ____
Pliila Balt & W ash _b_M ay 1,364,458 1,346,358
Jan 1 to* May 3 1 ____ 6,148,994 5,804,094
Pliila & E rie , b ______ M ay
732,799
679,321
Jan 1 to May 3 1 ____ 2,925,379 2,893,290
Pitts Cin C h ic& S tL .a M ay 2,408,189 2,117,589
Jan 1 to May 31 __.1 1 ,7 0 9 ,7 1 0 10,297,583
4,374
R aleigh & S o u t h p .a ._June
5,695
49,637
July 1 to June 3 0 ____
64,282
R eading C om pany—
Phila & R e a d . b .. .M a y 3,289,052 3,550,477
July 1 to M ay 3 1 ____ 36,959,117 34,004,155
Coal & Iron C o .b ..M a y 2,773,783 3,642,048
July 1 to M ay 3 1 ____ 30,769,300 33,363,716
T otal both c o s . b ___ M ay 6,062,835 7,192,525
July 1 to M ay 3 1 ____ 67,728,417 67,367,871
R eading C o .b ____ M ay
----------July 1 to M ay 3 1 --------------T otal all c o s . b ______ May
----------July 1 to M ay 3 1 --------------200,710
R ich F ’burg & P otom .M a y
208,267
J u ly l to M ay 3 1 ____ 1,585,496 1,426,419
47,798
R io Grande J e t_____.A p r
49,393
205,577
246,218
D ec 1 to A pr 3 0 ____
38,622
R io Grande S o u t h .b . .M a y
45,764
J u ly l to M ay 3 1 -----516,494
437,451
R ock Isld s y s t .a ______ M ay 3,926,801 3,498,374
July 1 to May 3 1 ____ 47,062,537 40,289,095
St Jos & Gr Isla n d . b_M ay
124,266
116,265
J u ly l to May 3 1 ____ 1,407,667 1,172,472
St Louis & San F ra n .a M a y 3,181,663 3,022,486
July 1 to M ay 3 1 ____ 38,626,399 35,319,478
St L ouis & S o u th w .b .M a y
767,832
672,964
J u ly l to M ay 3 1 ____ 8,263,578 8,160,772
Seaboard Air L in e .a . .M a y 1,296,726 1,221,594
J u ly l to M ay 3 1 ____ 13,898,126 12,439,407
121,421
Southern I n d . b _____ M ay
103,683
1,273,578
July 1 to M ay 3 1 ____ 1,323,449
Southern P a c ific .a ___Feb 8,001,844
6,581,998
July 1 to Feb 2 8 ____ 69,786,157 63,240,992
Southern R y System —
3,850,972
Southern R y . b ____ M ay 4,531,675
July 1 to M ay 3 1 ____ 49,347,866 44,316,033
873,272
M obile & O h io .a ___M ay
715,975
July 1 to M ay 3 1 ____ 8,635,634 7,568,339
Cin N O & T P a c .a .M a y
758,023
643,351
July 1 to M ay 3 1 ____ 7,703,219 6,736,913
277,976
315,943
A la Gt S o u t h .a ____ M ay
Ju ly 1 to M ay 3 1 ____ 3,457,537 3,036,362
Ga South & F l a .a ..M a y
164,967
137,476
July 1 to M ay 3 1 . . . . 1,778,777 1,570,190
T exas C e n tra l.a _____ M ay
65,276
50,529
768,894
July 1 to M ay 3 1 ____
885,068
TidewateT & W e s t.b _ M a y
9,580
8,206
J u ly l to M ay 31____
82,704
81,257
T oled o & Ohio C en t.a .M a y
258,051
268,832
J u ly l to M ay 3 1 ___ _ 3,752,124 3,448,959
T ol Peoria & W e s t. b_ June
99,820
108,171
J u ly l to June 3 0 ____ 1,292,258 1,281,443
T oled o St L & W e s t ..M a y
356,815
310,495
J u ly l to M ay 3 1 ____ 3,859,141 3,446,969
T om bigbee V a lle y ____ M ay
5,560
3,797
N ov. 1 to M ay 3 1 ____
32,109
21,097
Union Pacific S y s t .a .A p r 5,339,805 4,781,682
July 1 to A pr 3 0 ____ 56,107,329 49,388,318
V a & S o u th w e s t.b ..M a y
95,316
65,829
July 1 to M ay 3 1 ____
920,775
610,033
W a b a s h .b ____________ M ay 2,018,867 1,860,201
J u ly l to M ay 31____ 22,694,029 22,761,747
W Jer & S ea lS h o re .b .M a y
401,150
350,850
Jan 1 to M ay 3 1 ____ 1,669,428 1,414,628
W estern M aryland_a_M ay
465,454
354,151
J u ly l to M ay 3 1 ____ 4,339,594 3,549,538
W heel & L ak e,'E rie.b .M a y
343,690
428,780
J u ly l to M ay 3 1 _____ 4,911,479 4,119,598
W ’ m sp’t & N o B r c h .a .M a y
12,868
14,908
July 1 to M ay 3 1 ____
161,189
154,807
W isconsin C en tral.b_ .M a y
602,403
594,899
J u ly l to M ay 3 1 ____ 6,506,698 6,085,119
W rights & Tennielle.b.M ay
sl2 ,7 0 3 '
$12,531
J u ly l to M ay 3 1 ____ $191,898
$178,484
Y a zo o & Miss V al_a__M ay
728,959
599,460
July 1 to M ay 3 1 ____ 7,955,083 8,105,898

Current
Y ea r.

P reviou s
Y ea r.

$

S

3,540,269 3,609,669
15,566,442 12,066,242
In c.
206,300
In c. 1,538,500
436,387
398,387
1,367,025 1,211,725
256,925
207,375
575,282
533,898
498,132
588,592
2,580,537 2,039,790
2,321
1,453
16,210
25,857
1,086,826
14,020,798
def3,024
1,549,553
1,083,802
15,570,351
140,309
1,411,095
1,224,111
16,982,047
89,974
568,896
n l4 ,8 1 8
n73,865
17,628
223,140
878,106
13,398,496
26,100
435,131
844,234
12,536,711
202,588
2,102,541
356,133
3,848,651
58,836
523,348
2,012,441
23,424,302

1,522,398
15,461,892
325,463
2,379,111
1,847,861
17,841,003
107,574
1,276,301
1,955,435
19,117,305
90,713
478,889
n l4 ,3 3 9
n61,672
13,247
205,604
766,492
10,526,920
35,960
274,945
762,846
11,291,634
167,922
2,447,628
374,881
3,696,663
38,431
537,168
1,390,209
20,531,846

679,649
807,516
12,800,426 12,172,301
230,506
192,538
2,788,272 2,421,367
197,667
155,101
1,860,143 1,580,674
50,589
43,287
660,560
557,923
15,891
26,372
396,683
362,393
25,147
5,282
355,952
267,731
2,164
2,905
18,294
7,492
6,716
26,121
900,294
764,263
17,558
28,093
253,483
253,288
P107.414
p84,899
p 9 6 1 ,719
p700,195
1,511
1,821
11,779
8,546
2,141,882 2,098,965
25,737,785 23,094,638
31,831
14,429
369,381
239,453
470,023
186,836
6,134,777 8,894,593
118,617
86,717
352,977
195,277
?/197,717
?/120,728
V 1,512,658 y 1,292,759
101,931
111,024
1,466,770
828,066
def4,534
. 3,816
48,676
46,059
208,975
217,031
2,330,492 2,056,748
2,166
2,439
68,539
64,462
186,256 def49,409
1,216,218 1,891,481

Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes.
d For M ay 1906 taxes and rentals am ounted to $187,372, against
$191,303 in 1905, after deducting which net for M ay 1906 was $2,253,555,
against $1,583,610. From July 1 to M ay 31, net after deducting taxes
and rentals is $24,797,872, against $19,134,770 last year.
h For M ay ad_ditional incom e is $2,135 this year, against $5,S38 last
year, and from July 1 to May 31 additional incom e is $51,943 this year,
against $52,003 last year.
k For May additional incom e is $16,047 this year, against $9,245 last
year, and from July 1 to May 31 additional incom e is $171,39S this year,
against $116,566 last year.
m Expenses include $27,500 for new equipm ent.
n These figures represent 3 0 % o f gross earnings.
o Including other in com e, total incom e (exclusive o f results o f coal
com panies) for May is $862,988 in 1906, against $1,138,158 in 1905,
and for period from July 1 to M ay 31, is $11,433,551 in 1905, against
$11,696,426 in 1906. D eductions from total incom e for additions and
im provem ents were $82,180 in M ay 1906, against $115,917 in 1905
and from July 1 to M ay 31 were $1,181,854 in 1906, against $1,190,216
in 1905.
P In May 1906 additional incom e was $540, against $210 in 1905; and
from July 1 to M ay 31 1906 additional incom e was $18,368, against
$11,818 last year.
s Includes $446 other incom e for May 1906, against $404 last year, and
from July 1 to M ay 31, $5,148 this year, against $4,331 last year.
V For May additional incom e and net profits from coal, & c., were
$53,880 this year, against $25,737 last year; and from July 1 to M ay 31,
$793,844 this y e a rja g a in s t $606,318 last vear.g*3&4£«fe
f
•- •

[V O L . L XXXI1I,

Interest Charges and Surplus.— The following roads, in
addition to their gross and net earnings given in the fore­
going, also report charges for interest, & c.; with the surplus
above or deficit below these charges.
— I n t .. R en tals , & c . — — B a l. of N et E ’n g s. —
Current
P reviou s
Current
P reviou s
Yea r.
Year.
Yea r.
Yea r.
%
%
8
$

Roads.

A tl & B irm in g h a m ._ .A p r
17,042
16,062
10,170
533
July 1 to Apr 3 0 ____
167,503
148,100
103,080
68,363
Bangor & A ro o sto o k . .M a y
60,969
46,912
15,842
15,592
J u ly l to M ay 3 1 ____
200.502
608,512
512,173
262,301
Bridge & Saco R iv __ M ay
1,252
543
543
490
July 1 to M ay 3 1 ____
5,973
5,973
7,211
7,227
Buffalo & S u sq ______ May
48,217
£9,430
20,153
£34,413
359,634
J u ly l to May 3 1 ____
214,691
£265,608
£296,391
5701,252
276,672
Central o f N J ___ _ M ay 6513,958
232,705
July 1 to M ay 3 1 ____66,611,792 56,773,350 3,584,027 3,063,512
Chicago Gt W estern . .M ay el 72,907
el72,267
26,792
d ef 5.785
454,132
J u ly l to M ay 3 1 ____ e l ,886,065 el ,891,331
126,030
8,636
Copper R a n g e ____ ____ A pr
8,437
8,437
13,677
84.374
July 1 to A pr 3 0 ____
84,375
116,558
141,058
Cornwall & L e b a n o n . .M a y
4,139
4,126
11,966
13,677
J u ly l to M ay 31____
45,700
44,474
474,385
67,579
Denver & R io G ran de.M ay
338,64V
344,394
<2314,674
<£195,239
J u ly l to M ay 3 1 ____ 3,796,609 3,786,820 <23,345,706 <£2,611,682
Detroit T ol & Iron ton —
July 1 to Mch 3 1 ____
877,179
581,527
£216,388
£25,851
Duluth So Sh & A t l__ May
95,942
85,841 £def 5,937 £ d ef2 1 ,235
9 9 e,3 4 0 x d efl2 9 ;0 6 1 zd efl9 0 ,9 9 0
J u ly l to M ay 3 1 ____ 1,048,790
Georgia R R _ _ ______ May
a50,787
a5 1 ,093 £def 6,194
£845
J u ly l to M ay 3 1 ____ a567,934
£124,854
a569,379
£203,463
Gulf & Ship Isla n d ___May
25,333
26,768
£19,774
£42,931
J u ly l to May 3 1 ____
280,024
280,440
£372,449
£154,970
M ay
66,254
H ock ing V a lle y ____
30,949
£109,143
£112,649
J u ly l to M ay 3 1 ____
687,087
821,688 £1,605,151 £1,316,534
Kanaw ha & M ich ____ May
19,264
£16,817
£12,684
20,259
J u ly l to M ay 3 1 ____
218,483
219,334
£281,340
£10,703
Louisiana & Ark _ _ May
11,515
14,610
£21,097
r22,372
J u ly l to May 3 1 ____
142,407
128,110
£215,700
£185,528
M aryland & P en n a___June
3,833
3,833
3,600
3,211
79,001
74,983
July 1 to June 30____
41,220
25,330
Millen & S ou th w ___ Feb
1,298
810
1,483
160
Mineral R a n g e. _
.M a y
9,946
9,447
£6,699
£def 263
136,758
J u ly l to M ay 3 1 ____
£55,322
103,911
£19,038
Mo K an & T e x . _
M ay
383,757
90,444
356,603
84,695
July 1 to M ay 3 1 ____ 4,118,073 3,894,072 1,169,242 1,000,475
Nashv Chatt & St L_ _ Ma y
148,500
148,942
26,121
94,781
J u ly l to May 3 1 ____ 1,641,506 1,649,282
837,650
742,423
Nevada Cal & O regon .M a y
2,112
2,142
8,038
8,431
J u ly l to M ay 31____
23,682
07,042
23,353
67,020
N Y Ont & W estern ..M a y
71,111
89,754
69,378
154,738
J u ly l to M ay 3 1 -----777,006
694,814
978,910 1,118,380
N orfolk & W estern ___May
353,207
330,880
650,126
534,276
J u ly l to M ay 3 1 ____ 3,767,582 3,426,392 6,698,908 5,162,098
R eading, all cos . . _ M ay
355,611
868,500
884,016
1,071,419
July 1 to M ay 3 1 ____ 9,553,500 9.724,174 7,428,547 9,393,131
Rio Grande J e t.
. Apr
8,333
6,006
8,333
6,485
41,606
D ec 1 to A pr 3 0 ____
41,666
20,006
32,199
R io Grande Southern .M a y
17,501
17,533
127
def 4,286
J u ly l to M ay 3 1 ____
196,848
198,060
£34,689
£14,602
St Jos & Gr Isla n d ___M ay
4,672
21,428
21,744
14,216
J u ly l to May 3 1 -----231,639
203,492
40,409
234,536
Seaboard Air L in e ____ May
92,152
264,653
246,130
128,977
J u ly l to M ay 3 1 ____ 2,865,420 2,755,766 1,000,897
966,779
Texas Central
May
2,584
2,583
22,563
2,699
July 1 to M ay 3 1 ____
28,414
327,537
28,415
239,317
Toledo & Ohio C e n t..M a y
36,686 £ d ef3 1 ,438 £ d e fl 0,373
38,190
J u ly l to M ay 3 1 ____
424,567
411,488
£480,392
£384,364
T ol Peoria & W e st___June
22,577
def 4,018
21,576
5,516
J u ly l to June 3 0 ____
275,602
286,160 d ef 22,119 d ef 32,872
W ’m sp’ t & N o B rch__M ay
2.714
2,750
def 7,248
1,066
July 1 to May 3 1 ____
31,054
31,493
17,183
15,005
W isconsin C entral____ May
151,461
145,344
£60,800
£77,705
J u ly l to M ay 3 1 ____ 1,652,611
£707,922
1,605,091
£487,900
a Charges here include road rental (paid b y lessee) and other deduction.
b Included in the fixed charges are expenditures for renewals, additions

and im provem ents am ounting to $58,785 for M ay 1906, against $127,493
in 1905, and for period from July 1 to M ay 31 to $1,470,257 in 1906,
against $ l,4 S 8 ,3 9 0 in 1905.
d These figures are after allowing for other incom e and for discount
and exchange. The sum o f $10,000 is deducted every m onth from surplus
and placed to the credit o f the Renewal F und.
e Charges include interest on debenture stock .
x A fter allowing for other in com e received.

Miscellaneous Companies.

a

----- Gross E a r n ’gs ------- ------- N e t E arn in gs -----Current
Y ea r.
Com pa n ies.

Buffalo Gas C o______ June
Oct 1 to June 30 ____
Cumb Tel & Tel C o .b .June
Jan 1 to June 3 0 ____
E d E lec 111 (B r o c k t’n ) A pr
Jan 1 to A pr 3 0 ____
Fall R iver Gas W k s .a .A p r
Jan 1 to A pr 3 0 ____
H oughton Co E l Lt Co .M a y
Jan 1 to M ay 3 1 ____
Hud R iv E lec P ow Co .M a y
K eystone Teleph C o ..M a y
J u ly l to M ay 3 1 ____
Lowell El Lt C o r p .a ..M a y
Jan 1 to M ay 3 1 _ . _ _
M ilwaukee Gas Lt C o . June
Jan 1 to June 30 ____
Minneap Gen E le c .a .M a y
Jan 1 to M ay 3 1 ____
Pacific Coast_________ May
July 1 to May 3 1 ____

$
________
________
451,294
2,635,738
12,939
55,842
22,837
108,955
15,353
96,159
66,407
70,606
746,239
20,597
115,189
________
____ ___
58,385
329,324
458,348
5,820,565

P revio u s
Y ea r.

S
i -------374,551
2,244,814
10.50S
47,777
22,784
103,902
13,657
82,995
51,764

19,358
102,932

58,081
294,536
523,516
5,580,119

Current
Y ea r.

8
21,802
281,206
162,796
939,310
2,981
16,445
6,491
39,055
5,984
49,610
24,075
31,423
334,186
5,598
41,533
70,522
466,249
26,768
168,931
85,316
1,259,526

P reviou s
Y ea r.

S
19.862
264,973
136,156
833 ,S02
2,313
13,581
4,875
28,929
6,056
43,259
21,396

5,470
42,166
68,641
388,280
27,897
150,220
129,465
1,138,665

THE CHRONICLE,

July 2L 1900. j
----- Gross
Current
Year.

Earn ’gs-----Previous
Year.

Roads.
S
P ocahontas Colileries - May
..............
Ju lyl to May 3 1 -----223,21S
V ictor Fuel C o_______ May
Jan 1 to May 3 1 ____ 1,996,399
21,525
W ilkes-B Gas & El Co.M ay
134,645
Jan 1 to May 3 1 ____

S

145,517
1,425,459
17.S72
109,570

------Net
Curren t
Year.

Earnings-----Prcviou s
Year.

S
25,171
393,170
51,912
453,050
7,623
60,783

$
19,072
21,108
192,471
7,712
52.S07

a Net earnings here given are after d ed u ctin g taxes,
b Net earnings here given are before deducting taxes

151
Latest Gross Earnings.

Name of
Road.

Week or
M onth .

T oledo Rys A Light
Tol Urb & Inter R y
T oledo A W estern .
T oronto Railw ay
Twin City R ap T r .
United R ys o f St L
Wash Alex A Mt V
W h atcom Co R y A
Light C o . . . . . .

Current

J u n e ..........
May ..........
A p r i l_____
W k Julv 14
4th w k ju n e

June

J u n e ___

May _____

Interest Charges and Surplus.
—In t.,

Rentals, & c. ------- Bal. of Net E'nqs .—
Current
Previous
Current
Previous
Y ea r.

Y ea r.

$
Cum b Tel & Tel C o . June
32,287
Jan 1 to June 3 0 ____
127,672
E d Ei 111 (B ro ck t’n ) - . Apr
729
Jan 1 to Apr 3 0 ____
2,916
Fall R iver Gas W k s __ A pr
687
Jan 1 to A pr 3 0 ____
2,634
H oughton Co El L tC o .M a y
2,813
Jan 1 to May 3 1 ____
11,564
025,956
K eystone Teleph Co__ May
c2 6 1 ,760
July 1 to May 31
1.243
Lowell Elect L t ______ May
4,621
Jan 1 to M ay 31
8,908
Minn Gen E lec C o .. . May
44,824
Jan 1 to M ay 31
rf20,267
P ocahontas Collieries. May
(*284,915
J u lv l to M ay 31
(*21,847
V ictor Fuel C o________ May
(*207,600
Jan 1 to M ay 31

S
24,199
97,473
670
2.6S0
288
1,253
2,813
11,564

C om pa n ies.

1,307
5,418
9,071
48,216
(*15,992
(*17,544
d 173,735

Y ea r.

S
130.509
8 1 1.638
2,252
13,529
5,804
36,421
3,171
38,046
5,467
72,426
4,355
36,912
17,860
124,107
4,904
108,255
£40,460
£342,255

Y ea r.

$
111.957
736,329
1,643
10,901
4,587
27,676
3,243
31,695

4,163
36,748
18,826
102,004
3,080
£12,692
£108,276

c Charges here include renewal reserve.
d Includes sinking fund and preferred stock dividend.

£ A fter allowing for other incom e received.

STREET RAILW AYS AND TRACTION COMPANIES.
Latest Gross E a rn in g s.
N a m e of
R oad.

A lbany & H u d son ,
a Am erican R ys C o .
cA ur ElginA Chi Ry
B ingham ton R y ___

W eek or
M o n th .

A p r il_____
June . _ .
M ay .
M a y _____
May
J u n e _____
M ay _
June
May
M ay
------

M a y -------J u n e _____
June . . .
J u n e _____
M ay _____
J u n e _____
May
Mav
4th wkJune
Detroit U nited R y. 4th wkJune
Duluth Street R y 12d wk July
M a y ____ l
East St L & S u b .
El Paso E lectric. _ -M a y -------Ft W avn e A W ab
May -------M a v ___
A p r i l_____
May _____
Havana E lec R y
W k July 15
H onolulu R apid Tr
May ____
H oughton Co St R } May _____
H ouston Elec C o . . jM a y -------____
Illinois T rac C o . . . May
Indianap Col A So. M a y -------Jackson Consol Tr. Mav _____
Jacksonv E lec C o . . A p r i l _____
M a y -------May ._
Lehigh V Transit _ May
Lorain Street Rv_ Mav
Madison & Int Tra< M a y ___
Manila El R y A Ltg
June
Corn— R y Dep
Lighting .D ept
J u n e _____
J u n e _____
May
-----May -------W k July 7
Nashville R y A Lt May _____
N J& H R R Y & F C o May _____
N O R y & Lt C o . . M ay _____
Niagara StCA Tor. A p r il_____
A p r i l ____
!J u n e _____
May .
Northwestern Ele J u n e _____
Oakland Tr C ons. February _
Ma rch
A p r i l_____
M a y -------Peekskill Lt A RR J u n e _____
Pitts M-K A Green J u n e _____
Portland R ys C o. May
Puget S ’d E lec R y . M a r c h ____
St Joseph (M o) Ry
Lt Ht & Pow Co J u n e ..........
San Fran Oakl'd A
San Jose R y ___ February _
Savannah Elec Co Mav _____
Seattle Electric Co A p r il..........
South Side E l e v .. J u n e _____
Syracuse R T R y .. J u n e _____
March
May .........
May __ _

Gas A E le ct____
Chat t anooga R y sCo
Chic A Milw E le c_ .
d Chi A Oak P a rk .
Clev Painsv A E__
Clev A S \Y Tr C o.
Colum bus R R C o. _

Current
Y ea r.

S
21,305
247,398
102,533
24,741
153,857
49,758
8,793
8J60
20,874
57,357

P revious
Y ea r.
%

21,122
221,205
91,730
23^276
129,789
45,508
8,721
8,250
17,668
50,636
50,016
39,452
53,218
66,192
20,681
48,558
15,221
72,439

J a n . 1 to latest date .
Current
Y ea r.

P revious
Y ea r.

8
85,207
1,250,008

$
81,157
1,120,592

108,154

97,277

214,732

190,312

254,748

210,806

259,181
224,688
331,873
422,733
86,630
289,277

234,154
193,035
211,973
406,144
75,474
237,375

52,879
42,904
84,555
68,382
23,190
59,058
17,140
83,369
8,263
155,694
17,246
162,740
31,666

131,594
13,789
144,135
23,823

696,673
2,630,045
390,838
619,211
148,639

2,302,402
334,293
561,279
115,049

87,327
27,721
235,372
13,416
2/30,084

74,062
22,252
202,331
10,545
?/28,392

398,958
107,296
912,169
60,726
7/816,904

340,657
95,974
752,339
53,801
?/749,950

29,452
18,212
49,170
226,529
19,779
12,170
26,226
460,044
67,793
76,403
12,067
10,604

28,502
710,993
43.63G
187,120
16.547
9,935
27,754
418.552
61,586
69,403
11,260
9,824

140,690
79,937
223,022
1,107.295
83,794
51,377
98,949
2,114,835
300,208
473,632

132,273
41,325
188,341
905,631
72,424
41,321
104,826
1,839,524
258,657

46,053

40,570

43,250
30,500
200,961
280,880
50,099
68,476
114,246
41,951
470,901
16,609
58,222
92,984
71 ,485
120,247
118,906
11 369
9^920
11,726
15,219
22,798
144 563
48^933

186,868
266,594
47,398
59,169
104,081
34,540
14,576
52,342
85,163
57,080
1 13,755
100.354
10,934
11,445
12,904
17.701
134 610
35,954

262,000
175,250
1,228,641
1,355.919
227,150
1,577,297
537,750
144,671
2,452,810
51.352
230,389
461,056
748,159
240.618
29,830
35,814
43.898
65,976
96,483

_____ J ^
1,111,355
1,263.410
201,661
1,379,478
449,865
109,418
—

46.874
192.160
425,478
703,447
205,027
33.961
39.016
56.478
77,905

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

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

72,331

65,683

392,726

343,177

49.083
53,173
231,492
152,655
88,990
59 510
38,483
60,473

41.170
50.569
203,424
140,911
80,742
47 874
34,953
51 .749

97.391
245,784
917.760
871 .194
517,1 14

81,551
222,286
779,312
814.525
454 010

188,080
294.290

163,921
231.329

Fear.

Previous
Year.

Jan . 1 to latest date
Current
Year.

Previous
Year.

$
178,110
28,152
18,588
60,338
147,494
791 ,402
30,527

$
163,226
25,575
17.790
55,037
1 16.962
746,101
20,037

$
962,500
132.878
72,600
1,539,464
2,551 ,636
4,400,267
131 ,960

$
895,792
114,701
63,568
1 ,367,147
2 ,168,066
4.046,087
121 ,438

20,393

15 406

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

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

a Figures for the m onth in both years include operations oi the Scranton R y . f acquired Jan. 1 1906. b d ota l is from March 1. c These figures
are for consolidated com p a n y, d These are results for main line. / De­
crease in 1905 due to strike and b oy cott , y Figures for both years now
in Am erican currency.

Street Railway Net Earnings.— The following table gives
the returns of STREET railway gross and net net earnings
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained", is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of June 29 1906. The
next will appear in the issue of July 28 1906.
------ Gross E a r n ’gs------Current
Y ea r.
Roads.
$
B rockt’ n A P ly m ’ th__M ay
8,793
Cape B reton E lec Co_ _May
20,874
Cleve & S ou th w est__ June
59,058
Jan 1 to June 3 0 ____
289,277
Colum bus R R C o ____ May
17,140
Gas Lt Co of C ol___May
2,188
Dallas E lec C orp ____ May
83,369
El Paso El Co _a
_ May
31,666
Jan 1 to M ay 3 1 ____
148,639
Galveston E le c, a ____ May
27,721
Jan 1 to M ay 3 1 ____
107,296
H oughton Co St R y .a .M a y
18,212
Jan 1 to M ay 3 1 ____
79,937
H ouston E lect C o _ a _ _ M a y
49,176
Jan 1 to M ay 31
223,022
Manila El Co R y D ept June
43,250
Jan 1 to June 3 0 ____
262,000
Light Dept_
_ June
30,500
Jan 1 to June 3 0 ____
175 250
92,984
Nor Ohio T rac A L t.a.Ju n e
Jan 1 to June 3 0 ____
461,056
North T ex T r Co _
May
71,485
Peekskill Lt A R R __ June
15,219
Jan 1 to June 3 0 ____
65,976
134,539
July 1 to June 3 0 ____
Savannah E lec Co _a _ _May
53,173
245,784
Jan 1 to M ay 3 1 ____
88,990
Syracuse R T C o_b__June
517,114
Jan 1 to June 30____
July 1 to June 30____ 1,027,141
Tam pa E lectric C o _a -M a y
38,483
Jan 1 to M ay 3 1 ____
188,080
Terre H Tr A Lt C o .a _M ay
60,473
Jan 1 to M ay 3 1 ____
294,290
T oledo R ys A L t Co.a.June
178,110
962,500
Jan 1 to June 3 0 ____
791,402
United R ys o f St L __June
Jan 1 to June 3 0 ____ 4,400.267
W ash Alex A Mt V .June
30,527
131,960
Jan 1 to June 3 0 ____
W h atcom Co R y ____ May
20,393

P reviou s
Yea r.

$
8,721
17,668
48,558
237,375
15 221
1,872
72,439
23,823
115,049
22,252
95,974
cl0,993
C41,325
43,636
188,341

85,163
425,478
57,080
12,904
56,478
119,165
50,569
222,286
80,742
454,010
894,573
34,953
163,921
51,749
231,329
163,226
895,792
746,101
4,046,087
20,037
121,438
15,406

------- N et E arnings ------Current
Yea r.
%

P reviou s
Yea r.

$
2,618
2,667
8,463
4,291
27,281
21,629
116,118
88,483
6,123
5,351
644
671
28,359
24,053
10,042
8,468
48,458
42,523
11,201
8,143
_______
33,148
6,712 cdef
699
19,017 cdef 43,904
19,552
16,408
74,136
67,767
21,500
130,750
16,500
86 600
44,090
39,322
203,584
188,561
28,790
26,114
8,154
6,285
22,112
29,991
63,487
50,597
22,479
22,633
93,158
91,097
36,615
34,498
220,425
187,986
380,092
447,760
15,877
14,256
81,081
64,854
23,076
15,606
106,962
66,722
89,759
82,379
432,057
453,655
307,548
294,973
1,675,984 1 ,346,908
8,616
16,139
60,932
51,865
5,364
7,025

a Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes,
c Decrease in 1905 due to strike and b o y co tt.

Interest Charges and Surplus.
— In t.,

Rentals , &c. ------- Bal. of Net E ’ngs .—

Current
Y ea r.
R oads.
$
1,833
B rock t’ n A P ly m ’ th May
4,376
Cape B reton E lec C o _May
1,889
Columbus R R C o ____ May
105
Gas Lt Co o f C ol___May
18,718
Dallas E lect Corp
-M ay
3,794
El Paso Elec Co
_ - May
18,881
Jan 1 to M ay 3 1 ____
Galveston E lec C o____ May
4,166
20.8
Jan 1 to May 3 1 ____
3,966
Houghton Co St R y .M ay
19,562
.Tan 1 to May 3 1 ____
10,065
Houston Elect C o ____ May
Jan 1 to May 3 1 ____
41,351
22,738
North Ohio Trac Co June
136,072
Jan 1 to June 3 0 ____
9,942
Northern T ex Tr C o .-M a y
12,686
Savannah E lec Co
May
56,375
Jan 1 to May 3 1 ____
23,373
Syracuse R T C o ____June
135,773
Jan 1 to June 30 __
258,278
July 1 to June 3 0 ____
Nil
Tam pa E lectric C o.
May
Nil
Jan 1 to May 3 1 ____
15,048
Terre H T rac A Lt Co May
64,058
Jan 1 to May 31 —
42,269
T oled o R ys A L t Co June
253,720
Jan 1 to June 3 0 .
198,026
United R ys of St L
June
Jan 1 to June 3 0 ------ 1,189,322
3,758
W h atcom Co R y ..........May

P reviou s
Y ea r.

§
1,752
4,401
1,914
105
18,222
3,455
17,112
4,167
__________

3,627
17,578
11,179
45,422
23,017
137,602
10,327
10,554
52,769
20,368
122,321
244,046
1,885
9,494
12,086
48,610
41,771
253,814
198,840
2,229

c Decrease in 1905 due to strike and b o y co tt.
£ After allowing for other incom e received.

Current
Y ea r.

S

P reviou s
Y ea r.
%

915
785
d e fllO
4,087
4,234
3,437
566
539
9,641
5,831
6,248
5,013
25,41 l
29,577
7,035
3,976
12,315
—
2,746 cdef 4,326
d ef 545 cd ef 61.4S2
9,487
5,229
22,345
32,785
16,305
21,352
50,959
67,512
15,787
18,848
12,079
9,793
38,328
36,783
14,130
13,242
65,665
84,652
136,046
189,482
12,37 [
15,877
55,360
81,081
3,520
8,028
42,904
18,106
40,608
47,490
178,243
199,935
96,133
109,522
151,573
486,662
3,135
,

THE CHRONICLE.

152

AN N U AL REPORTS.
Annual Reports.— All annual reports of steam railroads,
street railways and miscellaneous companies which have been
published during the first half of 1906 may be found by refer­
ence to the general index of the "Chronicle,” the annual re­
ports being indicated in this index by heavy-faced type.
Interborough Rapid Transit Co., New York.

{Balance Sheet, Apr. 30 ’06, reported to N. Y . Stock Exchange.)
Assets__
^
Cost of lease and equipment.-26,581,431
Stocks and bonds of other cos_20,253,846
Real estate___________________ 1,874,377
Supplies on hand____________
619,681
10,114
Due on tra 111c account_______
B'klyn-Manhat. Rap. Tr. R R . 2,283,932
Due by cos. & individuals (on
open accounts)....................
4,587,135
Cash on hand_________________ 1,219,623
Manhattan guaranty fund------ 4,057,987
Loans_________________________ 1,892,000
Prepaid insurance____________
135,475
Sundries____ _________
174,244
Total ______________ ______-.63 ,6 8 9 ,8 4 7
— V .8 2 ,p . 1323,627.

L ia b ilitie s —

S

Capital stock____ ______
35,000,000
4 % 3-year gold notes___ 15,000,000
Rentals due and accrued_____
762,339
Loans___________________ 2,500,000
147,667
Sundries____ ______
Manhattan Ry. lease account377,323
Due for wages___________
113,966
Due for supplies, taxes, & c._
631,274
Due cos. and individuals (on
open accou n ts)-.......................3,815,879
Taxes in litigation______ 2,825,548
Profit and loss— surplus_2,515,851
T o t a l______ _______________ 63,689,847

Metropolitan Securities Co.

[ Y o l . LXXXILI.

Conducting transportation increased $65,247, or 1 0 .9 3 % , due tojth ejin creased volum e o f traffic handled and increase in rates o f wages paid.
The con dition o f you r p rop erty was m aterially im proved during the
year, the additions ancf im provem ents (aggregating $83,717— E d .)
including with others: New coaling plant and additional track facilities,
new passenger station, new telegraph w ire, additional lan d, & c., <fcc.
There were 47,000 cross ties used in main and sidetrack renewals and
7,738 in new tracks. There were 3,030 tons o f new steel rail used in
renewals and 7 tons in new tracks; 57.66 miles o f main track were bal­
lasted with gravel and eight miles with engine cinders. "Trestle N o. 32,
length 177.8 feet, near Fredericksburg, O ., was replaced with steel
truss on new m asonry and track raised six inches; truss N o. 50, length
153 feet, near Kill buck, was renewed and track raised 12 inches.
E q u ip m en t. — The full authorized locom otiv e equipm ent, 47 in num ber,
was in service D ec. 31 1905. 125 new 100,000-pounds-capacity freight
cars were purchased to replace w orn-out equipm ent, the total loading
capacity being thus increased 1,079 tons. E ighteen old 60,000-poundscap acity gondola cars were con verted into gravel cars.
The board o f directors has authorized the purchase o f 616 freight cars,
at a cost o f $750,000, the paym ent o f w hich is to be provided for under
a 10-year car trust agreement. The purchase o f this new equipm ent
was made im perative by the follow in g conditions, viz.: (1) The freight
car equipm ent consists o f 2,637 cars, o f which 579 are 9 years old , and
the balance, 2,058, are o f an average age o f over 13 years and must be
replaced during the next four or five years. The establishment o f
through freight runs makes it im possible to separate the light-built
cars and run them in trains b y them selves, an d, since the extensive intro­
duction o f h ea vy steel cars, the consequent destruction o f the fightweight cars has been a very severe strain on your equipm ent. (2). It is
deemed advisable to equip all cars w ith air brakes b y about July 1 1906,
and this com pan y now has in its equipm ent between 500 and 600 cars,
the con dition o f w hich will not ju stify the application o f air brakes, and
these cars will therefore be withdrawn from service. (3 ). The volum e
o f traffic offered is such that any failure to replace these cars w ould ad­
versely affect the earnings.

{Balance Sheet Mch. 3 1 ’06, reported to N . Y . Stock Exchange.)
The following is the consolidated general balance sheet
of Metropolitan Securities Co. and New York City Railway
The earnings for four years past and the balance sheet
Co. as of March 3 1 1 9 0 6 . For the purpose of presenting follow:
the net assets and liabilities of the two companies, all trans­
E a rn in g s, E x p e n s es , Charges, etc.
actions between them have been eliminated.
1905.
1904.
1903.
1902.
C onsolidated B a la n ce S heet M a r c h 31 1906.
L ia b ilitie s — •
$

A ssets—

Construction, equipment,
leases and franchises. _
2,827,713
Investments____________
12,749,037
Materials and supplies___
786,355
Cash ____________________
2,042,305
Cash on deposit to pay cou­
625,947
pons and rentals___________
Notes receivable______________
314,533
Accounts receivable__________
233,296
Due from Met. St. Ry. Co. and
operating cos. in system— 1,995,101
Due from leased lines_________
182,119
Int. & divs. on secur's owned.
13,894
Miscellaneous interest________
37,795
Insurance, track rentals, &c.,
prepaid and undistributed..
518,239
Profit and loss— deficit______ aQ , 611,708
Total

28,938,043

$

Capital stock________________ £>22,485,500
Notes payable________________
300,000
Accounts payable____________
895,156
Coupons and rentals due and
•unpaid _______________
625,947
Employees’ deposits__________
18,541
Unclaimed wages____________
9,898
Transfer tickets outstanding. _
1,918
Interest and rentals accrued. _ 1,868,268
Taxes (excluding special fran­
chise taxes in litigation)____ 1,324,714
Reserve for net deficits of cos. a
majority of whose stock is
owned by N. Y . City Ry.Co. 1,341,185
Porfit on securities sold______
66,91.7

Total

28,938,044

a This includes the amount which has been paid since the date of the Metropolitan

Street R y . lease to provide such part of the rental of 7 % upon the stock of Metropoli­
tan Street R y. as has not been provided from earnings.
b$9,304,200 capital stock of New York City R y . owned by the Metropolitan Se­
curities Co. has been excluded from this item and from “ Investments.”— V . 82, p.
283, 161.

(The) West India Electric Company, Limited.

(Report for Fiscal Year ending Dec. 31 1905.)
President James Hutchinson says in substance:
The gross earnings increased 6 .5 5 % ; the net earnings increased 1 0 .0 9 % .
The entire net profits have been credited to surplus a cco u n t, and from
that account has been w ritten off $5,440, leaving a balance at surplus
o f $142,883. There has been a capital expenditure o f $8,788. The
indebtedness to the B ank o f Montreal has been reduced from $58,288 to
$23,426. Y ou r directors entered office in March of last year, but it was
n ot until July that they were able to effect the changes necessary for the
im provem ent o f the co m p a n y ’s affairs. The expense o f getting the p rop ­
erty into first-class shape will extend well into the present year, and the
directors feel that the result will show a material reduction in operating
expenses. The securities o f the Jam aica E lectric Light & Power C o.,
L im ited , w hich com p a n y controls the electric lighting business o f K ings­
ton , have been acquired, with the intention o f leasing the property to
the W est India E lectric C o., L im ited, at an early date.
E a rn in gs and E xp en ses.

Passengers carried _ _ _ -----Gross receipts _ _ _ _ _ _ _ _
Operating expenses _ _ _ _
P . c . o f oper. ex p . to car earnings__
Net e a rn in g s _____ __ _
Interest on b o n d s. _
T axes on earnings _ _
•Surplus

_____

_ ______________

1905.
3,695,070
$139,762
70,135
(52.09)

1904.
3,489,625
$131,166
67,918
(53.09)

1903.
3,692,109
$138,724
63,701
(46.42)

$69,627
$30,000
5,385

$63,248
$30,000
\ 5,117

$75,022
$30,000
5,490

$28,131

$39,532

$34,242
31.

F in a n c ia l Statem ent D e c .

1905.
A ssets__

S

1904.

S

L ia b ilities—

Property and plant - _ ,546,746 1,537,958 Capital stock_______
3,405
5,292 Bonds_______________
Accounts receivable24.717
29,616 Accounts payable___
stores ______________
1,022
3,433 Accrued int. on bds_
Suspense -----------------8,174
8,175 Unredeemed tickets.
Colonial Gov’t dep__
5,818
10,676 Miscellaneous______
C a s h -------- -------------Bank of Montreal___
Surplus____________
T o ta l_____________1,589,882 1,595,150
— V . 81, p. 560.

Total

1905.

1904.

800,000
600,000
7.195
15,000
1,378

800.000
600,000
6,585
15,000
939
256
58.289
114,082

$

23" 426
142,883

S

1.589.882 1,595.150

Cleveland Akron & Columbus Railway.

(Report for Fiscal Year ending Dec. 31 1905.)
Under date of March 13 1906, President James McCrea says
in substance:
General R esults. — The gross earnings were increased $274,797, or
1 7 .4 2 % , as com pared with the preceding year; the operating expenses
increased $57,319, or 4 .4 1 % ; the net earnings, $217,478, or 7 8 .2 8 % .
The gross and net earnings were the largest in the history o f the road,
and the ratio of operating expenses was reduced from 8 2 .3 9 % for 1904
to 7 3 .26% for 1905.
The total tonnage m oved was 2,740,078 tons, an increase o f 575,917
tons, or 2 6 .6 1 % , the increase being principally in grain, bitum inous
coal, ore, stone, sand, & c., iron and steel rails, bar and sheet m etal,
lum ber and other building materials. Freight train mileage increased
62,581 miles, or 9 .9 6 % . Earnings per ton per mile decreased from 6.6
mills to 6.3 mills. Freight earnings per train mile were $1 91, an in ­
crease o f 19 cents, or 1 0 .8 0 % .
Expenses for m aintenance o f w ay and structures decreased $10,717,
or 3 .3 6 % , and for m aintenance o f equipm ent increased $124, or .0 4 % .

$
Freight traffic______________ 1,318,111
Passenger tra ffic__________
382,529
Express, mails, car service
and m iscella n eou s____
151,453

$
1,081,882
346,609

$
1,144,987
355,891

$
980,488
325,254

148,805

128,419

111,833

1,577,296

1,629,297

1,417,574

M aint. o f w ay and s t r u c t 308, 678
M aintenance o f equipm ent
315,847
Conducting transportation
662,005
General expenses_________
24,228
Taxes ____________________
46,027

319,395
315,723
596,758
22,623
44,967

249,570
294,752
645,474
22,936
43,770

217,114
204,557
528,056
20,108
40,404

Operating expen ses____ 1,356,785
Net earnings______________
495,308
A dd general in terest______
______

1,299,466
277,830
1,801

1,256,501
372,796
6,506

1,010,239
407,335
3,935

495,308

279,631

379,302

411,270

Interest on funded d e b t . .
General in terest, & c______
Dividends ( 2 % ) __________

158,992
3,431
80,000

159,670

160,380

161,100

80,000

80,000

80,000

T o t a l ___________________
B a la n c e ____ ______________

242,423
a252,885

239,670
39,961

240,380
138,922

241,100
170,170

Gross e a rn in g s _________ 1,852,093
E xp en ses —

Gross in co m e ___________
Deduct—

a A dd at credit o f incom e D ec. 31 1906 $61,177, and am ount realized
in sundry adjustm ents, $8,481, and deduct fund for additions and im­
provem ents, $173,717 (of which $90,000 u n expen ded), and sinking fu n d ;
$16,792— balance to credit o f incom e D ec. 31 1905, $132,034.
G eneral B a la n ce Sheet D ec .3 1 .

1905.
A ssets—

$

1904.
S

I

1905.
L ia b ilities—

$

1904.

$

Railway, equipment,
[Capital stock________ 4,000,000 4,000,000
&c_________________ 7,335,307 7,335,307 |General mtge. bonds 1,800,000 1,800,000
Securities of other
iNew first consols____ 1,712,000 1,729,000
companies________
75,000
7 5 ,0 0 0 1Fund for additions
Material and supplies
I and improvements
90,000
32,273
on hand___________ 232,214 184,994) F'd for f’t car equip.
10,272
Accr’din t. on bonds.
58,533
Due by other com58,817
p n ie s _____________ 165,720 171,4481 Accounts for current
149,166
expenditures____ 211,559
Due by station ag’ts,
150,000
______
&c________________
52.917
47,666 Bills payable______
23,499
Cash in transit______
22,216
24,940 Due other companies
27,812
Cash with Treasurer.
240,761 194,159 Snking fund________
85,642
70,920
14,675
Other cash__________
1,515
2,165 Miscellaneous______
11,486
61,177
Miscellaneous assets.
35,689
31,845 Balance, surplus____ 132,034
Total assets______ 8.161,339 8,067,5251
— V. 81. p. 28.

Total liabilities.-.8,16 1,33 9 8,067.525

American Chicle Company.

{Statement for Year ending June 30 1906.)
At the annual meeting on July 17 James C. Parrish of New
York (a director of the United States Casualty Co.) was
elected to the board to succeed W. B. White, who resigned.
The statement for the late fiscal year as reported by the daily
press (and revised for the “ Chronicle” ) says in substance:
The profits for the year were $1,404,000, an increase of $180,000 over
last year. A fter paying dividends of 6 % on the preferred, am ounting
to $ i8 0 ,0 0 0 , and 1 3 % , am ounting to $780,000, on the com m on stock ,
the surplus for the year was $444,000. The profits of $1,404,000 were
derived after taking care o f the losses incurred b y the com pan y b y the
San Francisco fire. During the year the com p an y built a plant in Canada
and is now constructing a fa ctory in P ortland, Ore., to take the place o f
the one destroyed in San Francisco. A very successful business was
done in L ondon during the year.
The com pan y has acquired 1,000,000 acres m ore of land in M exico,
m aking the total acreage controlled in that cou n try 2,600,000, from
which to extract its raw material. The com pan y is also the largest
colonizer in the Y u ca ta n and Campeche districts, no less than the heads
o f 1,000 families being em ployed extracting raw material in those dis­
tricts. E very factory owned b y the com p an y worked 300 days during
the past year. The com p an y now owns seven factories, one each in
Newark, C leveland, New Orleans, L ouisville, Chicago, T oronto and
L ondon and one now in course o f construction at P ortland, Ore.
Results for Y ea r ending J u n e 30 1906.

1905-06.
1904-05.
1903-04.
Profits for y e a r ___________
$1,404,000
$1,224,000
$1,111,000
Deduct—
Dividends on pref. s t o c k ._ (6 % ) 180,000 (6 % ) 180,000 (6 % ) 180,000
Dividends on com . sto c k . _ (1 3 % ) 780,000 (1 2 % ) 720,000 (1 2 % ) 720,000
B alance, sur. for y e a r ..

$444,000

$324,000

$211,000

The total accumulated surplus on June 30 1906 was $1,759,000, against $779,000 on June 30 1903, it having in­
creased about $980,000 in the last Three years.

153

THE CHRONICLE.

Ju l y 21 1906.]

The common stock in May last received an extra dividend
of 1% (in addition to the 1% m onthly), and during the cur­
rent month has received another "e x tra ” of the same
amount. The common stock is §6,000,000; preferred stock,
6% cumulative, §3,000,000. No bonds.
The fiscal year will in future end Dec. 31 instead of June 30,
and the next annual meeting will be held Jan. 15 1907.
— V. 82, p. 1440.
American Glue Company, Boston.

(Report for Fiscal Year ending May 31 1906.)
The annual results compare as follows:
N et___________________ ________
Depreciation------------- — ..........
Dividends, 8% on preferred-------Dividend, 4% on common----------

1905-06.
$231,157
50.000
104,072
32.000

1904-05.
$218,915
28,773
103,952
32,000

Surplus for year.
. -------Previous surplus-----------------------

$45,0S5
196,608

$54,190
142,419

B A LA N C E S H E E T D EC EM B ER 31.
1905.
1904. 1
1905.
1904.
Liabilities—
Assets—
$
$
$
$
Property aiul plant. .4,5 5 6 ,7 9 8 4,305,909 Common s t o c k ____ 2.000.000 2.000.000
10,354
10,205! Preferred stock____
Leased circuits_____
500,000
500.000
Materials and su p p ..
36,619
19,977|Mortgage bonds . 2,260,000 2,085.000
Treasury stock— pref
136,800 288,600 Current liabilities..
286,854
298.925
Treasury bonds_____
104,000
219,000 Deferred liabilities
17,224
12.783
Current assets........... 314.022
100,135 Surplus.................
97,607
56.126
Deferred assets..........
3,092
3,008
Total assets............ 5.1 61.686 4,952,834

Total.......................... 5,161,686 4 952 843

As to recent change in control, increase in capital stock,
increase in dividend rate, and im portant acquisitions by which
the company becomes a holding company for local telephone
enterprises as well as a long-distance com pany, see V. 83,
p. 102; V. 82, p. 1501, 1327, 1274.

1903-04.
$164,404
24,429
103,952
32,000

United States Independent Telephone Co.

(Report for Year Ending Dec. 31 1905.)
The combined income account for the calendar year 1905
of all companies directly or indirectly controlled by the United
$4,023 States Independent Telephone Co. (exclusive of the Indianap­
138,396 olis companies) is as follows:
In co m e A cco u n t o f Controlled P ro p er tie s.

$241,694
$196,609
$142,419
Total surplus end of y e a r .------BALANCE SHEET AS OF MAY 31.
1906.
1905.
1906.
1905.
A ssets—
$
$
L ia b ilitie s —
$
S
Cash & acc'ts pay’ble 720,5S9 544,404 Preferred stock------ 1.304,300 1,304,300
Mdse, manuf'd and
|Common stock------ 800,000 800,000
in process_______1.220,219 1,340,310 iDebits.................. - 983,081 1.014.47S
Real estate.machin’y
Reserved for working
and fixtures_____ 456,420 719,512, capital------------- 460,000 460,000
Stocksowned_____ 641,S47 371,160 [Profit & loss surplus. 241,694 196 608
Patent rights and
goodwill_______ 750,000 800,000 I
Total .............-.-3,789,075 3,775,3S6i Total.................. 3.789.075 3.775,386
—S’ . S3. P. 40.

Cuyahoga Telephone Company, Cleveland, O.

(Report for Fiscal Year ending Dec. 31 1905.)
The report presented to the stockholders Feb. 5 1906 by
President Frederick S. Dickson says in part:

Gross earnings______________________________ _____ _______ $4,155,505
Operating and general expenses------------------------------------------- 3,102,908
Net earnings-------------------------------------------------------------------- $1,052,597
Other income (excluding interest and dividends from sub­
sidiary companies)
_____________ _____________________ * • 188,482
Gross income______________________________________________$1,241,079
Deductions from income (excluding interest to affiliated cos.). 235,243
Net income before dividends_______________________________ $1,005,836
P o sitio n of C o m p a n y on B a s is o f Its Interest in A fo re sa id N e t In co m e.

Company’s proportion of the total combined net income as
above, on the basis of its present direct or indirect holdings of
stock, assuming such net income to be declared in dividends. $943,580
Annual interest charge on the basis of the present outstand­
ing bonds, viz., $12,409,000_____________________________
620,450
Difference between the company’s proportion of the combined
net income of all subsidiary companies and the interest on
its bonds now outstanding_______________________________ $323,130

“ Out of this figure it would be necessary for the company
Increase in Equ ipm en t.— During the year 1905 8719,502 has been spent
in the development of our plant. This expenditure enabled us to add to provide for its administrative expenses, and the balance
6,070 telephones to our system (increasing the total from 14,370 to would be available for dividends or other purposes.”
20,440.— Ed.), to add six sections to our central exchange switchboards
Balance Sheet March 31 1906.
to increase our private branch exchange switchboards by 39 and our in
Assets
—
. $
Liabilities—
$
tercommunicating office system by 16. Besides this, we have increased Cost of acquiring securities._a;56,459,343
Com. stk. author’d$20,000,000
our switchboard capacity in the Shore, Chagrin Falls, Independence and Co.’s own secur’s in treasury:
Less reserved un­
Mayfield exchanges. Our cable capacity has been increased by 1,350 pairs
Common sto c k ..$ 7 ,0 4 4 ,0 0 0
issued -------------7.423,400
Deferred sto c k ._ 19,874,000
and to our subway has been added 34,710 lineal feet or 119,091 lineal feet
-------------------- 12,576,600
Collateral
tr.
bds.
2,9
06,000
Deferred—
authorized
and is­
of conduit. During the year we completed our arrangements for the
sued --------------------------------------30,000,000
purchase of the Collinwood plant and also added the Chagrin Falls plant
Total bonds and capital
Collat. trust bonds
to our system.
stock in treasury_________ 29,824.000
auth orized____ $25,000,000
*■
Higher Rates.— During 1905 we rewrote 3,209 contracts on our existing Furniture and fixtures________
134 Less reserved un­
issued _________
8,000,000
rates. There still remains 2,011 old contracts to rewrite, of which 887 Cash in banks and on hand___ 196,727
325,000
Total collateral trust bonds. 17,000,000
have not yet expired, the balance 1,124 in all, are now being adjusted Cash to pay coupons__________
arising from acquisi­
daily with but little friction, for it is clear that connection with 21,000 Cash subscriptons to b o n d s.. 1,685,000 Surplus
tion of company’s own com­
telephones is worth more than 10,000.
mon and deferred stock____ 27.105,600
P ag Stations. — On Dec. 31 1905 we had 725 pay stations and our total
Bills payable--------------------------500.000
Interest on bonds— accrued..
310,225
receipts for the year were 833,735 16, an increase of 232 stations and
Contract of purchase— Utah
of 813,627 41 in receipts.
securities___________________ 1 .0 2 3 .16 2
Electric B uilding. — The Electric Building, owned by the Cuyahoga
Profit and loss account_______cr. 25.383
Telephone Co., shows fair results during the past year. The total ren­
tals were $53,179 and the expenses, taxes and ground rent aggregate
T o t a l_______________________ 88,490,204
T o t a l----------------------------------- 88,490,204
$40,230, leaving a net earning of $12,948, or about 3.15% of the cost.
x
Includes
securities
(stock
or
stock,
bonds
& c.— E d .) of the Stromberg-Carlson
Future N eeds. — The company will need a large sum for development
Manufacturing Co. Rochester Telephone Co., New York Independent
work during the coming year and the recommendations of the managers Telephone
Co., Utah Independent Telephone Co. (see item on a following page) and
recommend an expenditure of over $600,000. The estimated return by Telephone
the Indjanapolis Telephone Companies.— V . 81, p. 1855.
increased gross earnings as a result of these improvements and extensions
will aggregate $150,000 a year.
Illinois Erick Co.
E A R N IN G S , E X P E N S E S A N D C H A R G E S.
1905.
1904. I
1905.
1904.
Earnings—
$
$
j Deductions—
$
$
Telephone rentals________ 488,451 350,423 Interest on bonds----------124,464 111,650
3,000
3,000
Building rentals.................. 53,179 54,848 ! Ground rent-------------------T o lls _____________________ 44.301 28,819 Bad debts & depreciat’n . 12,679
6,736
Miscellaneous____________
1,556
1,184 : Dividend on pref. stock. 51,398 43,955
--------------------------- 1Employees'share profits. 13,482
12,022
____
165
Gross earnings________ 587,487 435,274 Items previous year____
Expenses—
|Miscellaneous (net)______ 18,398
7,014
O perating........... ............... 77,577 54,667
M aint. and extraordinaryl46,972 108,608
General...........................
82,299
57,474 j
T a x e s ____________
25,285
18,993
Expenses and t a x e s . . . 332,133 239,741!
T o t a l ................. ............. 223,423 184.542
Net earnings
................. 255.354 19 5,53 31Surplus ................................ 31.930 10,991
G E N E R A L B A L A N C E S H E E T D E C . 31.
1905.
1904. |
Assets—
$
S
! Liabilities—
Property and plant. .5 ,5 82,1 36 4,862,634 Common s t o c k _____ 1,
741,750 ! Preferred stock_____1
Treasury stock, pref. 526,400
47,169 IMortgage b o n d s____ 2
Material and supplies
64,227
96.859 ! Current liabilities___
Current assets........... 170,430
5,273 Deferred liabilities.Deferred assets_____
8,598
! Reserve for divs____
|Reserve accts., sunds
IProfit and loss, surp.
Total assets............ 6.351.791 5.753.684

1905.

$

1904.

(Balance Sheet June 30 1906).
Dec. 31. |
June 30
Dec. 31 i
1906.
1905.
I Liabilities—
1906.
1905.
Real estate________ $1,078,2091 $ 3 ,6 3 5 ,5 1 6 1Capital stock_$4,000,000
$4,000,000
Bldgs. & mach’ y . _ 2 ,5 8 3 ,7 9 3 /
|Accounts payable.
144,932
114,039
Acc’ts receivable..
351,147
368,531 {Dividends unpaid......................__
60,000
Inventories_______
252,968
377,814! S u rp lu s--------244,714
256,857
Bills receivable___
1,869
2 ,2 4 7 1
Cash ...........
121,661
46,788)
Assets—

T o t a l____________$4,389,647 $4,430,8961
— V . 82, p. 1500.

Total...........................6.351.791 5.753.684

(Report for Year Ending Dec. 31 1905.)
E A R N IN G S , E X P E N S E S A N D C H A R G E S.

-

1905.
1904. |
1905.
1904.
E a r n in g s—
$
$
N e t E a r n in g s —
$
$
T o lls e r v i c e ..........................461,272 400,837 N e t earn in gs ............... ..1 6 8 ,8 5 8 152.168
L in e r e n t a ls ....................... 22,743
20,381 In c o m e In t e r e s t .................
6,831
M iscella n eou s____________
920
746
----------- ----------------------- ------------- j T o t a l in c o m e ............... 175,689 152,168
T o t a l ............................484.934 421,968
D ed u ctio n s—
Less d iscoun ts, <fcc..........
5.471 3 .6 55 ' In te re s t on b on d s................. 103,108
93,283
------ -— i n terest—M isc ella n eo u s ..
5,246
4,254
Gross e a rn In e s ........... ..4 7 9 ,4 6 3 418,30* R e n ta ls — L eased c ircu its 2,315
1,659
E xpen ses—
R eserv e fo r bad accts & c 3,397
889
O p e ra tin g .......................... 195.446 163.877
------ -----------------M a in t e n a n c e ..................... 60,140 55.948
T o t a l ..................................114,157 UK).085
G e n e ra l.............................
43.270
36.698 B a la n c e . _______ ___________ 61,532
52,084
T a x e s .........................
11.749
9.617 D iv id e n d s on p re f. s to c k . 19,515
11,178

Surplus ........................ - 42,017

40,916

$4,389,647 $4,430,896

(Balance Sheet of Dec. 31 1905.)
The following balance sheets have been filed in the office
of the Secretary of the Commonwealth of Massachusetts:
Balance Sheet Dec. 31.
1905.
Assets~~"

Real est. & mach’y
Merchandise_____
Casli&debts rec’ble
In vestm en ts_____
Other assets_______
Total ..............
— V .8 2 ,p . 338.

$

3.753,617
1,389,636
2,467,005
4,987,393
_______

1904. |
1905.
.$
I Liabilities—
$
3 ,5 8 6 ,0 6 5 1Capital stock_____ 7,000.000
1,310,222 |Accounts payable. 1.096,028
2,158.968 IProflt-shar’g fund. _________
4,746,942 |Ground rent..................................
25,982 Surplus...................
4,151,346
Profit and loss___
350.877

12.598.252 11,828.1791

1904.

S

7.000.000
426.003
8.795
29,963
4,112,145
251.273

T o t a l __________ 12,598.252 11.S28.179

Republic Iron & Steel Co.

(Balance Sheet March 31 1906
A s s e ts —

United States Telephone Company, Ohio.

T o ta l

Niles-Bement-Pond Company.

S

500.000 1.500.000
500.000 1.500.000
700.000 2.233.000
437,121
584,543
10.475
7,383
45,495
1,201
1,541
26.392
58.324

There is now outstanding S I,323,600 pref. stock, and
§1,500,000 common stock (par value of shares S50); also
§2,700,000 first mortgage 5 % bonds. See change in con­
trol, etc., in V. 82, p. 1325, 1271.

Expenses and ta x e s .. .310,606 266.140

June 30.

Mch. 31

June 30

1906.

1905.

s

S

Plant, & c _____
40.775,639 41.947.049
Northern
coking
coal properties. 1,201,502
New construction
7.253.569
<fc Improvements 8.329.694
Prod, oil prop's .
148.432
260,824
Prepaid royalties
and Insurance..
597.737
589.095
Diset.
exp. In re
bond Issue . . .
761.665
658.952
Funds in hand of
First Tr. & Sav.
Bk. to redeem
1.062.500
.036.612
collat. notes . .
Stk. In sundry cos. a4.52.088
439,338
Sink. fd. 1st M. bds
150
Raw and finished
materials .
3,819.755 3.852,343
Accts. A bills rec. 4.003.580 3.265.223
Co.'s bds. In treas
5829.000
Cash ....................... 3,530,508 4.303.605
Total

.................05.486.363 03.632.498

June 30
1905.
1906.
S
Liabilities—
S
27.191.000
Common stock
27.191.000
Preferred stock
20.416,900 20.410.000
971.000 2.759.000
Coll. tr. notes____
First mort. bonds. 9,454.000 7.146.000
Coll, note coup.due
78.750
July 1 1905.
89.212
Accrued In.on bds.
218.487
Bills and accounts
payable ............ 1,201,529 1,279,118
Dlv. on pf. stk.
781.950
.................
April 1.................
Def. pay’ ts on coal
37, 1
prop................
31 1,690
Reserve for deprec* n 373.586
241.001
312.229
Res've for tax.,A c
Reserve for doubt­
08.901
33.902
ful accounts__
4.501.779 4.010.329
Profit and lo ss..
Mch. 31

Total

05.480.303 03.632.408

THE CHRONICLE.

154

[Y o l. lxxxxll

referred to under title of the last-named company in V. 83,
40.— V. 82, p. 986.
Athens (Ga.) Electric Ry.— New Stock.—The company
recently increased its capital stock from $125,000, of which
$75,000 was common and $50,000 6% cumulative preferred,
to $275,000, consisting of $150,000 common and $50,000
preferred. The new common shares have been issued to
take care of present liabilities. There are also outstanding
Texas Pacific Land Trust.
6% bonds, $12,000 due 1916 and $263,000 due 1931. Com­
pare
page 7 of “ Street Railway” section.— V. 81, p. 1492.
(Report f o r Fiscal Year ending Dec. 31 1905.)
Atlantic Quebec & Western Railway.— Bonds Offered in
Chairman Charles J. Canda, under date Feb. 20 1906, says: London.— The “ Railway News” of London on July 7 con­
T h e tru ste e s w e re a b le t o p u rc h a s e 6 ,0 0 0 sh a res ($ 6 0 0 ,0 0 0 p a r v a lu e )
tained an advertisement offering at 95 £750,000 5% first
o f th e p r o p r ie ta r y c e rtific a te s fr o m th e su rp lu s fu n d s r e ce iv e d b y th e
T r u s t in e x c e s s o f th e a m o u n t n e ce s sa ry to p a y ta x e s a n d th e e x p e n s e s mortgage debenture bonds (part of an authorized issue of
o f th e T r u s t; th e sa id 6 ,0 0 0 sh a res h a v in g b een p u rc h a s e d in th e o p e n £1,866,000), in bonds of £100 each, payable to bearer, re­
m a r k e t at an a v e r a g e p r ic e o f $ 5 1 . 6 5 + p e r sh a re , a n d c a n c e le d .
payable (unless previously redeemed on or after Jan. 1 1915
General Agent W. H. Abrams says in part:
at 110) at par on July 1 1935. The advertisement said:

a I n c lu d e s $ 1 8 ,0 0 0 M a h o ., O re & S teel C o . s t o c k , b e in g 3 -5 0 t h s o f its
c a p it a l s t o c k ; $ 7 5 ,0 0 0 U n io n O re C o . s t o c k , b e in g A o f its s t o c k ; $ 5 0 ,0 0 0
A n t o in e O re C o . s t o c k , b e in g 'A o f th e s t o c k ; $ 7 ,5 0 0 C r o to n L im e s to n e
& B r ic k C o . s t o c k , b e in g 'A o f th e s t o c k ; $ 3 1 ,2 0 0 F re n ch T r a n s p o r ta tio n
C o . s t o c k , b e in g 7 8 -1 2 5 o f th e s t o c k ; $ 2 ,2 2 0 s t o c k o f U n io n D im e s t o c k ,
b e in g 2 2 2 -2 0 0 0 o f th e s t o c k ; $ 4 ,0 0 0 M a h o n in g & S h e n a n g o D o c k C o .
s t o c k , b e in g 2 -9 o f its c a p ita l s t o c k , s u b je c t to an a g r e e m e n t b e tw e e n th e
O w ners o f th e s t o c k d a te d F e b . 2 i 1890.
b $ 4 5 ,0 0 0 tr e a s u r y b o n d s h a d b e e n re d e e m e d an d c a n c e le d t o J u n e 6
1 9 0 0 — V . 8 2 , p . 1.501, 1215.

T h e r e w e re so ld d u rin g th e y e a r 1 3 1 ,5 8 3 a cres fo r $ 4 6 0 ,6 0 5 , o r an
a v e r a g e o f $3 5 0 + p er a c r e , o f w h ich 5 0 .1 % w as p a id in ca sh a n d 4 9 .9 %
in first m o r t g a g e 6 % n o te s ; a lso 169 to w n lo ts w e re so ld fo r $ 1 4 ,8 3 5 .
T h e a v e r a g e p e r a c r e , & c ., o b t a in e d fo r la n d s so ld h a s b e e n a p p r o x i­
m a te ly :
I n 1 8 99 , $2 0 2 ; 1900, $2 3 7 ; 1 9 01 , $2 5 0 ; 1 9 0 2 , .$2 5 8 ; 1 9 03 ,
$2 8 4 ; 1 9 0 4 , $3 11; 1 9 0 5 , $3 5 0 .
A t th e c lo s e o f 1905 th e n u m b e r o f a cres o f la n d u n d e r lea se w ere
2 ,4 7 7 ,8 8 9 ; th e a g re e d a n n u a l r e n ta l o n w h ich w a s $ 9 2 ,4 5 4 ; o f th is , h o w ­
e v e r , o n ly $ 8 8 ,1 9 9 w a s c o lle c t e d d u rin g th e y e a r .
In 1905 8 5 .4 5 % o f
a ll y o u r r e m a in in g la n d s w e re u n d e r le a s e , as a g a in s t 8 5 .7 9 % in 1 9 04 ,
8 4 .2 3 % in 1 9 03 , 8 4 .5 3 % in 1 9 0 2 , 8 2 .8 0 % in 1 9 0 1 , 7 4 % in 1 9 0 0 a n d 7 3 %
in 1 8 99 .
T h e a v e r a g e r a te o f r e n ta l p e r a cre o b t a in e d o n la n d s u n d e r
le a se in y e a r 1899 w a s 2 .8 6 c e n ts ; in 1 9 0 0 , 2 .9 5 c e n ts ; in 1 9 0 1 ,2 .9 9 c e n ts ;
in 1902,' 3 . 1 4 + c e n ts ; in 1 9 0 3 , 3 . 2 7 + c e n ts ; in 1 9 04 , 3 .6 0 c e n ts ; w h ile
in 1905 th e a v e r a g e o f all y o u r o u ts t a n d in g lea ses w a s 3 . 7 3 + c e n ts .
O f th e 2 ,4 7 7 ,8 8 9 a cres o f la n d u n d e r lea se D e c . 31 1 9 0 5 , 8 8 9 ,5 4 2 acres
a re s itu a te e a s t o f th e 1 0 3 d m e rid ia n o f w e st lo n g it u d e , th a t is t o s a y ,
e a s t o f th e e a s t lin e o f N e w M e x ic o e x t e n d e d s o u t h w a r d ly .
P r a c tic a lly
all o f y o u r h o ld in g s e a s t o f th e sa id lin e are u n d e r le a se ; in fa c t , all la n d s
e a s t o f th e P e c o s R iv e r .
S u c h o f y o u r la n d s as rem a in u n lea sed are
s itu a te b e tw e e n th e P e c o s a n d th e R io G ra n d e .
T h e ren ta ls at w h ic h
th e lea ses c o v e r in g th e 8 8 9 ,5 5 2 a cre s e a s t o f sa id 103d m e rid ia n w ere
m a d e am oun t, t o $ 4 5 ,7 7 0 p e r a n n u m , o r an a v e r a g e o f 5 . 1 4 + c e n ts p er
a c r e , w h ile o n th e r e m a in in g 1 ,5 8 8 ,3 4 7 acres s itu a te w e st o f th e sa id
m e r id ia n th e a n n u a l r e n ta l is $ 4 6 ,6 8 4 , o r an a v e r a g e o f 2 .9 4 c e n ts p er
acre.
D u r in g th e y e a r 1 9 0 3 , b y sa les o f .9 6 4 % o f y o u r la n d s , y o u r e tir e d
4 . 2 0 % o f y o u r c e rtific a te s ; in 1 9 0 4 , b y sa le o f .6 5 2 % o f y o u r la n d s , y o u
r e tir e d 3 . 7 7 % o f y o u r c e r t ific a te s ; w h ile in 1 9 0 5 , at an e x p e n s e o f 4 .3 3 6 %
o f y o u r la n d s b y sa le, y o u re tire d 7 .9 7 % o f y o u r c e r t ific a te s , o r , in o th e r
w o r d s , o f th e 1 0 3 ,7 0 0 sh a res ($ 1 0 ,3 7 0 ,0 0 0 ) o r ig in a lly lis te d at th e N ew
Y o r k S t o c k E x c h a n g e , 3 3 , 1 3 7 + sh ares ($ 3 ,3 1 3 ,7 2 6 ) o r 3 1 . 9 % + h a v e
b e e n p u r c h a s e d a n d c a n c e le d , a n d at an e x p e n s e o f 1 3 .9 3 % o f th e la n d s .
T h e c o lle c t io n s fo r th e y e a r fr o m ren ta ls a lo n e m e t all th e ta x e s an d
o t h e r e x p e n s e s (in c lu d in g $ 1 9 ,5 7 6 p a id fo r c o m m is s io n s ) fo r th e y e a r
in c o n n e c t io n w ith ca re o f th e p r o p e r t ie s , a n d le ft an e x ce s s fr o m th a t
s o u r ce o f $ 1 3 ,9 2 6 .
T h e y e a rs 19 04 a n d 19 05 h a v e b e e n o f m o re th a n a v e ra g e ra in fa ll
th ro u g h o u t T ex a s.
T h is w a s p a r t ic u la r ly b e n e fic ia l t o th e w e ste rn s e c ­
t io n o f th e S t a t e , w h e re in are lo c a t e d th e g re a t p r o p o r t io n o f y o u r la n d s ,
a n d th e se fa v o r a b le c o n d it io n s h a v e in d u c e d a la rg e im m ig r a tio n o f
fa r m e r s t o th a t s e c tio n , m a n y o f w h o m h a v e b e c o m e p u rch a se rs o f y o u r
la n d s .
M a n y o f th e c a tt le m e n a ls o , fe a r in g t h e y c o u ld n o t m u c h lo n g e r
c o n t r o l th e ir p a stu re s b y le a s e , are r a p id ly b e c o m in g p u rch a se rs o f
th e la n d s .
Receipts and Expenditures.
1904.
1 9 05 .
1902.
1903.
Receipts —
$
$
$
$
C a sh b e g in n in g o f y e a r .
1 9 ,3 9 4
8 ,7 4 0
4 ,2 2 6
7 ,1 3 7
R e n t a l o f g ra z in g la n d s
8 9 ,0 2 2
8 8 ,1 9 9
8 4 ,1 9 2
8 2 ,4 7 8
2 3 9 ,2 5 2
S a les o f la n d a n d l o t s . .
35 ,451
41 ,758
5 2 ,1 1 4
B ills r e c e i v a b l e ________
3 8 ,7 2 3
3 5 ,3 8 0
4 4 ,4 9 3
3 4 ,0 6 5
1 ,4 33
710
M isce lla n e o u s __________
443
1 ,9 8 3
.3 8 7 ,0 0 1 1 6 9 ,3 0 3 1 7 5 ,1 1 2 1 7 7 ,7 7 7
T o ta l
Expenditures —
1 2 ,0 3 8
1 1 ,9 7 6
G e n e ra l e x p e n s e s (T e x a s o ffic e )
1 1 ,7 7 4
1 1 ,681
1 9 ,5 7 6
5 ,7 7 8
5 ,6 6 4
C o m m i s s i o n s _____________________
6 ,0 6 0
2 7 ,3 1 1
T a x e s _____________ __________
2 4 ,9 3 9
2 6 ,2 3 7
2 5 ,1 4 3
15
,509
1 1 ,1 7 4
1 2 ,6 4 4
M isc e lla n e o u s ___________________
9,991
C o s t o f p r o p . c t fs . o f T . P . L . T r . p u r c h .
in o p e n m a r k e t a t a v . o f $39 47 + in
1 9 0 2 , $31 7 5 + in 1 9 0 3 . $32 4 0 in
19 04 a n d $51 6 5 + in 1 9 0 5 __________ 3 0 9 ,9 0 6
9 7 ,2 2 5 111 ,127 1 1 8 ,4 1 9
1 9 ,3 9 4
C ash o n h a n d _____________________________ . 2 ,6 5 9
4 ,2 2 6
8 ,7 4 0
T o ta l

_________________„ _____________ - - .3 8 7 ,0 0 1

1 6 9 ,3 0 3 1 7 5 ,1 1 2 1 7 7 ,7 7 7

A ssets and Liabilities D ec. 31 1 9 0 5 .
1 . A ssets.— 2 ,7 6 2 ,0 0 6 a cre s o f la n d s itu a te in 3 6 c o u n tie s (V .
7 8 , p . 2 3 8 2 ).
T ow m lo t s in M in era l W e lls , T y e , L o r a in e , I a t a n , B ig
S p rin g s a n d V a n H o r n .
1 3 7 ,8 4 0 a cres o f c a n c e le d sa les in 15 c o u n tie s (d e e d s in
e s c r o w ).
B ills r e c e iv a b le (fa c e v a lu e ) ta k e n fo r d e fe rre d p a y m e n t s __ $ 3 4 6 ,8 7 7
C ash o n h a n d ---------------------------------------------------- ^ _________________
2 ,6 5 9
2 . Liabilities.— P r o p r ie t a r y c e rtific a te s o u ts t a n d in g , in c lu d in g
$ 1 6 8 ,4 7 6 h e ld in escrow ' b y th e F a r m e r s ’ L o a n & T r u s t C o . $ 7 ,0 5 6 ,2 7 4
(T h e $ 1 6 8 ,5 7 5 b e in g so h e ld in e s c r o w t o ta k e u p th e r e m a in in g E a s te rn
D iv is io n la n d s e cu ritie s is su ed b y T e x a s & P a c ific R y . C o ., v iz .:
In com e
a n d la n d g ra n t m o r tg a g e b o n d s a n d in te re st s c r ip , $ 1 1 6 ,8 3 7 ; fr a c tio n a l
in c o m e a n d la n d g ra n t b o n d s c r ip , $ 4 ,5 5 5 ; in te r e s t sc r ip o ld la n d g ra n t
b o n d s , $ 4 9 0 .)— V . 8 1 , p . 2 0 9.

RAILROADS, INCLUDING STREET ROADS.
American Light & Traction Co.— Common Stock Dividend

Increased.— The directors have declared, with the usual pre­
ferred dividend, a dividend of 1M% upon the common stock,
payable Aug. 1 1906 to stockholders of record July 21 1906,
increasing the annual rate from 4% to 5% . The earlier
distributions on the common shares were: Nov. 1 1904, 1)^%;
in 1905, May, 1J^%; Aug. and Nov., each 1% (quar.);
in 1906, Feb., 1%; May, 1%.
Earnings.— The preliminary statement for the six months
ending June 30 shows net receipts of $1,023,535, which com­
pare with $532,581 for the corresponding period last year,
the increase being partly due to the greater number of prop­
erties now owned.
%^Sale.— The sale of the Lacombe Electric Co. of Denver
to the Denver Gas & Electric Co., announced this wTeek, was

\ p.

The com pany has been formed (under Special A cts) to construct and
work a standard-gauge railway of a length of 362 miles, viz: (1) From
the deep-water harbor of Gaspe westerly through Gaspe County to Am qui,
on the Intercolonial Railw ay, and thence southerly to Edmundston on
the St. John River— where connection can be made with the Canadian
Pacific system and the proposed Grand Trunk Pacific Line , 260 miles.
(2) From a point at or near Gaspe Harbor skirting the coast southerly
through Douglas, New' Port, Port Daniel, H ope, Cox, &c., to Paspebiac
on the Atlantic & Lake Superior R y ., 102 miles.
The Provincial Government of Quebec has authorized the granting to
this com pany o f land grants to the extent of 4,000 acres per mile for the
150 miles of railway mentioned in the A ct, which lands so to be granted
have been assigned to the trustees for the bondholders.
Bonds for £80,400 have been issued under the construction contract.
Bankers for the com pany, Barclay & Co., Limited, 1 Pall Mall East,
54 Lombard St. Trustees for bondholders: James Millington Sing, E sq.,
Hon. Cecil Marcus Knatchbull-Hugessen, George Elliott, Esq.
Directors: The R t. Hon. The Viscount Tem pletown, Antrim, Ireland;
R t. Hon. The Earl of Ranfurly, G .C .M .G ., Dungannon, Ireland; William
Moffatt, E sq., Aberdeen; Edward Bruce R ead, E sq., Middle Hill, W oking,
Surrey; James Millington Sing, E sq., Stiveloom s, Heswall, Cheshire;
Charles Brien, E sq., and Joseph Lavoie E sq., Gaspe, Province of Quebec.
Secretary, E . Stanley E lvey, F .C .I.S . London offices: 87 Strand,
London. W . C.— V. 83, p. 93.

Baltimore & Annapolis Short Line RR.— Consolidation
Plan.—See United Railways & Electric Co. of Baltimore.
Meeting to Authorize Mortgage and Consolidation.— The

shareholders will vote Aug. 6 on making a mortgage upon the
property, and also on consolidating the company with the
Maryland Electric Ry. as provided in the aforesaid plan of
the United Railways & Electric Co.—V. 76, p. 809.
Berkeley RR.— Sale.— The road is advertised to be sold at
auction July 23 at the Court House, Monck’s Corners, S. C.
— V. 79, p. 150.
Boise Nampa & Owhyee Ry.— Merger.— See Idaho North­
ern Ry. below.
Boston & Maine RR.— Stock Option.—Stockholders of
record, it is announced, will be permitted to subscribe for
$5,331,900 new common stock at the rate of one share for
every five held by them on or before Aug. 15 at $165 per
share. See V. 81, p. 1174, 974, 899.
Subscriptions are payable (1) in full on or before Sept. 1,
when full paid certificates will be issued entitled to partici­
pate in all subsequent dividends; or (2) in four equal instal­
ments Sept. 1 1906, June 29 1907, Aug. 31 1907 and Dec. 31
1907. The right to subscribe will cease at 1 o ’clock Aug. 15.
All subscriptions and payments for new' stock are to be made
to the Old Colony Trust Co., Boston.— V. 83, p. 36.
Boston & Suburban Electric Companies.— Bonds.— See
Lexington & Boston Street Ry. below.— V. 81, p. 1847.
Boston & Worcester Electric Company.— Option to Sub­
scribe.— The new stock (6,000 shares each of common and
preferred) having been duly authorized on July 14 , all share­
holders of record July 24 are offered the opportunity on or
before Aug. 4 1906 to subscribe for a block consisting of one
preferred share plus one common share for each ten shares
of either class held by them respectively at $105 for each
block, subscriptions to be paid 50% on or before Aug. 4
1906, 50% on or before Sept. 4 1906. All subscriptions will
be made to the American Loan & Trust Co. The issue has
been underwritten at the aforesaid price.— V. 83, p. 36.
Buffalo Rochester & Pittsburgh Ry.— Settlement of Strike.
— The long strike in the bituminous coal regions tributary
to this road and the Beech Creek division of the New' York
Central lines was finally settled July 13 on the basis, it is
stated, of a 5.55% increase of wages for all mine workers
and the application of the check-off system to miners but
not to laborers. The terms are practically the same as
reached by the Buffalo & Susquehanna Co. with their em­
ployees two weeks ago . See remarks in editorial columns
in V. 83, p. 61.— V. 83, p. 36.
Canadian Northern Ontario Ry.— New Name.— See James
Bay Ry. below.
Canadian Northern Ry.— Ally.— See James Bay Railway
below.— V. 82, p. 1267, 691.
Canon City Florence & Royal Gorge Interurban Ry.—
Bonds Offered.— James H. Parish & Co., New' Haven, Conn.,
are offering this company’s 1st 5% bonds at par and interest.
Interest May and November. Issue limited to $500,000,
dated May i 1906 and due May 1 1926, without option of
earlier redemption. Trustee, Public Trustee of the County
of Fremont, Colo. A prospectus says in substance:
T h e c o m p a n y w a s in c o r p o r a t e d in C o lo r a d o la st M a rch w ith $ 1 ,5 0 0 ,0 0 0
c a p it a l s t o c k in sh ares o f $ 1 0 0 e a ch (all o f w h ic h is o u t s t a n d in g ), a n d h as
n e a r ly c o m p le t e d its R o y a l G o rg e d iv is io n , 10 m iles in le n g t h , c o n n e c t in g

Ju l y 21 1906.]

r H E C H R O N IC L E

Canon City. Col., with the park at the top o f the R oyal Gorge, which
commands extended views of the Grand Canon o f the Arizona, "th e canon
walls rising almost vertically to a height o f 2,500 fe e t." In addition
to this 10-mile road, it is proposed to build the following lines, making
the total system 27 miles, viz.: Canon City to Florence, S 'j miles; in
Canon Citv, 3 miles: branch loop through the populated sections of
Lincoln Park, the orchard country and South Canon, 6 miles.
Lite
total cost of the system is estimated at 31,000,000. including 3025,000 for
the road, equipment, franchises. &c.. and 3375,000 for terminals, car
barns, hotel sites, park reservations and lime rock deposits. IV it it an
average o f 400 round-trip tourists a day, at 31 each, it is estimated that
the Koval Gorge division will earn, gross, 3150.000, and net 375,000,
against'a total interest charge o f 325,000. In addition it is thought a
large income will be derived from the hauling o f building material
and the sale of dolom ite lime rock. The other divisions, when built, are
expected to contribute passenger earnings, 394,900; freight, 330,000;
and express, all lines, 310,950. Officers: F. R. Street, New Haven,
Conn.. President; F. S. Granger, Yice-Pres. and Gen. Man.; James 14.
Peabody, Treas.; Richard llou le, Sec. Office, Canon City.

r e p r e s e n tin g s o m e § 2 , 5 0 0 , 0 0 0
b e e n a c q u ir e d e ith e r fo r th e
w h ic h th e N e w Y o r k C e n tr a l
V a ll e y C o . b e lo w ) o r fo r th e
th e fo llo w in g b o a r d :

155
s to c k w h ich it is believed lias
M o h a w k V a lle y C o m p a n y , in
is in te r e s te d
th e M o h a w k
D e la w a r e & H u d s o n , elected

James II. Caldwell, Peter McCarthy, Thomas Breslin, Prank P. llowe,
John G. Hawley, John F. Christie, 11. .1. Speck, H. K. Downing, all of
Troy: Louis W Emerson of Warrensburg, P. P. Pruyn of C l o u s Palls,
W. W. Blackmore of Saratoga, and A. It. Nicol, John A. ti B re n an
Arthur Braund of New York.—V. 82, p. 1040.
I d a h o N o r t h e r n R y . — Acquisition.— T h e c o m p a n y h as
t a k e n o v e r th e B o is e N a m p a & O w h y c e R y . , e x t e n d in g
fr o m N a m p a to M u r p h y , 3 0 m ile s .
T h e ro a d n o w e x te n d s
fr o m N a m p a to E m m e t t , 5 8 m ile s .
T h e o fficers a r e :
P r e si­
dent- a n d G e n e r a l M a n a g e r , E . H . D e w e y ; V i c e -P r e s id e n t ,
W . C . D e w e y ; T r e a s u r e r , J o h n B lo o m fie ld ; S e e ., A . J . H e d e .

Chateaugay & Northern Ry.— Amalgamation.— Sec Great
Northern Ry. of Canada below.
I llin o is C e n tr a l R R . — Dividends.— T h e d ir e c to r s o n J u ly 18
Chesapeake & Nashville RR.— Transferred.— See Louisville "d e c la r e d a re g u la r s e m i-a n n u a l d iv id e n d o f 3 j ^ % , ” p a y a b le
S e p t . 1 1 9 0 6 to th e h o ld e r s o f r e c o r d o n A u g . 1.
T h e th re e
Nashville R R . below.— V. S I. p. 1099.
Cumberland Corporation.— Xcw Holding Co.— Notes Sold. p r e c e d in g d is t r ib u t io n s w e re 3 % a n d 3d> o f 1 % e x t r a .— V . 8 2 ,
— Th's new corporation holds as assets the stock of the p . 1 2 6 8 .
I n d ia n a C o lu m b u s & E a s t e r n T r a c t io n C o .— Correction.—
Olinchfield Coal Co. (V. SO, p. 2046, 2222, 224), which owns
300,000 acres of coal lands in Virginia and West Virginia; A s sh o w n in t h e lo n g s t a t e m e n t in o u r issu e o f J u ly 1 7 , th e
the stock of the South it Western Railway and a block of tr u s te e fo r th e n e w is s u e o f $ 1 2 ,0 0 0 ,0 0 0 o f 5 % b o n d s is th e
P e n n s y lv a n ia C o m p a n y fo r I n s u r a n c e s o n L i v e s & G ra n tin gthe Seaboard Company stock.
The capitalization of the Cumberland Corporation con­ A n n u it ie s , o f P h ila d e lp h ia , not th e G ir a r d T r u s t C o . , as
sists of §15,000,000 6% preferred stock, 'all paid in, $25,- o r ig in a lly r e p o r t e d .— V . 8 3 , p . 3 7 .
000.000 of common stock and §15,000,000 of 6-year 5%
I n d ia n a p o lis
&
L o u is v ille T r a c t io n
C o .— Status.— T h e
notes, interest June and December, New York Trust Co. a u t h o r iz e d c a p it a l s t o c k is $ 3 , 0 0 0 , 0 0 0 — $ 2 ,5 0 0 ,0 0 0 c o m m o n
trustee. These notes have been sold to Blair & Co., Speyer s t o c k a n d $ 5 0 0 ,0 0 0 p r e fe r r e d . T h e r e is a b o n d issu e o f
it Co. and the Old Colony Trust Co. They are issued to $ 1 ,2 5 0 ,0 0 0 , a ll o u t s t a n d in g . T h e r o a d , w e are in f o r m e d ,
complete the South it Western R jh to a connection with w ill b e in o p e r a t io n p r o b a b ly a b o u t J a n . 1 1 9 0 6 . S a m u e l
the Seaboard Air Line at Rutherfordton, N. C. This will A d a m s , 5 1 6 M o n a d n o c k B l o c k , C h ic a g o , is S e c r e t a r y . See
give the S. it W. Ry. 107 miles of road, and, via the Seaboard, p a g e 6 0 o f “ S tr e e t R a i l w a y ” s e c t io n .
makes a new outlet for the Clinchfield coal.
I n t e r b o r o u g h -M e t r o p o l it a n G o .— Balance Sheets, &c., of
Delaware & Hudson Co.— Decision.— Hon. Alton B. Par­
Subsidiaries
.— See M e t r o p o lit a n S e c u r it ie s G o . a n d I n t e r ker. as referee, has handed down his decision in the action
brought by Charles Sundstrom and Frank M. Stratton of b o r o u g h R a p id T r a n s it C o . u n d e r “ A n n u a l R e p o r t s ” ; a lso
Middletown for work done in the reconstruction of the i t e m u n d e r th e c a p t io n o f th e la t t e r b e l o w .— V . 8 3 , p . 9 5 .
Chateaugay RR.. now the Chateaugay & Lake Placid Ry.,
I n t e r b o r o u g h R a p id T r a n s i t C o .— Security Holdings.— T h e
completed in 1904. The amount of the claim was in dis­ s t a t e m e n t m a d e to t h e N e w Y o r k S t o c k E x c h a n g e o n J u n e
pute. the judgment awarded being for about $951,000 and 2 0 1 9 0 6 b y t h e I n t e r b o r o u g h -M e t r o p o lit a n C o . g iv e s in fo r ­
costs.— V. 82, p. 1379.
m a tio n w h ic h w e t a b u la t e as fo llo w s r e g a r d in g t h e s t o c k s
Grand Trunk Pacific R y.— Debenture Stock.— The stock­ a n d b o n d s o f o th e r c o m p a n ie s o w n e d b y th e I n t e r b o r o u g h
holders last month authorized the issue of $25,000,000 of R a p id T r a n s it C o .:
Bonds
Total
-------- Owned b y - -----4% debenture stock. It was recently reported that $15,Issued.
R . T . Co. L . /. R R .
000.000 of the stock would be shortly offered in London and Subway Realty Co. stock Issu e.
Paris, but we are informed that no plans have been made
(V . 82, p. 513, 2 2 2 )_____$2 ,000,000 $1,780,000
for the issue of any amount in the near future.— V. 82, p. New Y ork & Queens County
83,000,000
Railway Co. stock ______ 3
,235,000 3,204,500
1102.
Rap. Tran. Subway Const’ll
Co., stock (V . 74, p. 989)_ 6 ,000,000 5,987,000
Grays Harbor (Wash.) Railway & Light Co.—Bonds Pelham
_ . 27,750-5%
Park R y . Co., stock
50.000
49,525
Offered.— Otis & Hough, Cleveland, are offering at 101 and City Island R R . Co., stock .
27,873-6%
50.000
49,750
interest S300.000 first mortgage sinking fund 6% gold bonds New Y ork & Long Island
None
R R .C o ., stk. (V . 82,p. 752)
100.000
93,800
of 81,000 each, dated April 1 1906, due April 1 1936, but New
York & Long Island
subject to call at company’s option on any interest date at
250.000
125,000 $125 0001 f
Traction Co., pref. stock
|1,000,000
105 and interest on 60 days’ notice. Interest payable April New York & Long Island
750.000
367,675 367 675 ; all owned
Traction C o., com . stock
and Oct. 1 at the Citizens’ Savings & Trust Co., Cleveland, New
[ as shown
York & Long Island
or at the First National Bank, New York. Sinking fund
500,000
500, 000 j i
Traction 1st M. 4p£.s_____ 1 ,000.000
299,000 299,,000 ! ( S600 000
2% of the bonds issued, annually, beginning April 1 1911. L . I. Electric R y. Co., stock 600.000
600.000
300,000 300,,0 0 0 /\as shown
Electric R y . C o., bonds
Trustees, the aforesaid trust company and F. E. Hertzel, L. “I.Total
Co.
to
date
as shown in general balance
cost to Interborough
Warren, Pa. A circular says in substance;
sheet, 820,253,£46.”
Capital stock, 3500,000. Bonds authorized (absolutely first m ortgage),
A n n u a l R e p o r t s ” o n a preceding
Balance Sheet.-— See
3500,000; bonds issued, 3350,000; bonds in treasury, issuable for im prove­
ments and betterments at the rate o f 75% of the cost, 3150,000. Earn­
ings for calendar year 1905; gross earnings, 3106,171; operating expenses,
including taxes and insurance, 854,872; net earnings, 351,299; other
incom e, 3223: total net, 351,527; interest charge for one year, 821,000;
surplus, 330,527. For the three months ending .March 31 1906 the gross
earnings were -333,867; net. 314,106; contrasting with 822,617 gross and
89,653 net in 1905. All franchises endure for 50 years, and all have been
granted within the last four years. The property consists of 9
miles of
electric railway connecting Aberdeen, Hoquiam ancl Cosmopolis, W ash­
ington and electric light plants in Aberdeen and Hoquiam ; also about 87
acres of land and 25 lots through the ownership of the stock o f a real
estate com pany, which stock is subject to the mortgage. On a part of
this property the com pany has established a well equipped park, which
affords a large business to the railway, and the revenue from the park is
sufficient to pay depreciation and interest charge on the same.
The stock of the com pany is largely owned b y Jerry Crary and D. W .
Beaty of Warren, P a., which fact insures prudent management.
The cities of Aberdeen and Hoquiam , and the village o f Cosmopolis,
are located on Grays Harbor, at the mouth o f the Chehalis River, a large
bay, 50 miles north o f the mouth of the Cloumbia River and 100 miles
south o f the Straits of Fuea. This is the only harbor o f importance in
Washington south of the Straits, and it is said to be the largest cargo
lumber shipping point in the United States. The principal industry is
lumber, but the land is fertile and, when clear o f timber, is o f much value
for agricultural purposes. In addition to the 402,000,000 feet o f lumber
cut in these three municipalities, over 409,000,000 shingles are manu­
factured there. All three municipalities are also served b y the Northern
Pacific Railway. Population b y State Census o f 1905: Aberdeen, 8,500;
Hoquiam, 5,200; Cosmopolis, 1,000; total, 14,700.

Great Northern Ry. of Canada.—Consolidation— The
stockholders last month voted to amalgamate with the Que­
bec New Brunswick & Nova Scotia and the Chateaugay &
Northern. Previous to the amalgamation a mortgage dated
June 11. made by the Quebec New Brunswick & Nova Scotia
Ry. to the National Trust Co., Limited, was filed.— V. 82,
p. 986.
Hudson Pelham & Salem Street Railway, New Hampshire.
—Co-Receiver.— Press reports state that Robert G. Doe of
Dover, N. H., has been appointed co-receiver with D. A.
Belden of Haverhill, Mass.— V. 79, p. 2747.
Hudson Valley Railway.—Change in Control— New Direc­
tors.— At the annual meeting this week James H. Caldwell,

p a g e .— V . 8 2 , p . 1 3 2 3 .

J a m e s B a y R a i l w a y .— New Name.— N o t ic e is g iv e n t h a t
th e c o m p a n y o n J u n e 3 0 1 9 0 6 c h a n g e d it s n a m e to th e n a m e
“ T h e C a n a d ia n N o r th e r n O n ta r io R a i l w a y C o . ”
W . H.
M o o r e , T o r o n t o , is S e c r e t a r y .
See V . 7 9 , p , 9 0 3 , 2 6 9 7 .
K a n s a s C ity T e r m in a l R a ilr o a d A s s o c i a t i o n .— Officers.—
T h e fo llo w in g officers are a n n o u n c e d :
P r e s id e n t , J oh n M .
E g a n ; S e c r e t a r y , C . C . R i p l e y ; T r e a s u r e r , E . F . S w in n e y .
S ee la s t w e e k ’s is s u e , V . 8 3 , p . 9 5 .
L a k e S h o re & M ic h ig a n S o u th e r n R y .— Maturing Bonds. T h e $ 9 2 4 ,0 0 0 D e t r o it M o n r o e & T o le d o R R . first m o r t g a g e
7 % b o n d s m a t u r in g A u g . 1 1 9 0 6 w ill b e r e d e e m e d on a n d
a fte r t h a t d a t e u p o n p r e s e n t a t io n a t th e o ffice o f t h e L a k e
S h o re & M ic h ig a n S o u t h e r n , G r a n d C e n tr a l S t a t i o n . N e w
Y o r k .— V . 8 2 , p . 1 4 3 8 .
L e x in g t o n & B o s t o n S t r e e t R y . — Bonds.— T h is c o m p a n y ,
c o n tr o lle d b y th e B o s t o n S u b u r b a n E le c t r ic C o m p a n i e s , la s t
w eek p e t it io n e d th e M a s s a c h u s e tts R a ilr o a d C o m m is s io n
fo r a u t h o r it y to issu e th e r e m a in d e r ( $ 1 5 0 ,0 0 0 ) o f it s $ 5 0 0 .0 0 0
4 H % 2 0 -y e a r first m o r t g a g e b o n d s , to p r o v id e for flo a tin g
d e b t in c u r r ed fo r e x ten sio n ! a n d im p r o v e m e n t s .— V . 7 3 , p . 8 2 .
H e n d e r s o n & S t . L o u is R y .
E n d o f l 'd in g
v o t i n g t r u s t e x p ir e d b y li m it a t io n on J u ly 1
la s t.
T h e M o r to n T r u s t C o . w ill issu e c e r tific a te s o f s to c k
u pon s u r r e n d e r o f th e v o t i n g t r u s t c e r tific a t e s . - V . 8 1 , p .
1312.
L o u is v ille

T r u s t .— T h e

L o u is v ille & N a s h v i lle R R . — Acquisition.
1 he c o m p a n y
on J u ly 1 t o o k o v e r th e C h e s a p e a k e <fc N a s h v ille H I ! . , o p e r ­
a t in g i t as a p a r t o f th e N a s h v ille d iv is io n .
1 he r o a d , w h ich
e x t e n d s fr o m G a ll a t i n , T e n n ., to S c o t t s v i lle , K y . , 3 5 m ile s ,
w ith b r a n c h fr o m R o g a n a to H a r t s v ill e , 12 m ile - , w a s -o ld
in O c t o b e r la st t o W il lia m A . N o r tb r u p o f L o u is v ille , K y .
C om p are V . 8 1 , p . 1099.

THE CHRONICLE.

156

Called B on ds. — T w en ty ($20,000) P ensacola D ivision first
m ortgage bon d s o f 1880 have been called for redem ption
at 105 on Sept. 1 1906 at the office o f the co m p a n y , 71 B roa d ­
w a y . The num bers o f the called b on d s will be fou n d in
ou r advertisin g colu m n s.— V . 83, p. 381

Madison (Wis.) Traction Co .—

Called Bonds. — The bon d s

w h ich were called fo r p a y m en t Sept. 1 at the M ilwaukee
T rust Co. will be redeem ed at 110 and in terest.— V . 83, p. 96.

Maryland Electric Ry.— Proposed Mortgage.— Sec U nited
R a ilw a y s & E lectric Co. o f B altim ore b e lo w .— V . 82, p. 628.
Mexican Central Ry.— Further Time for Exchange.— The
tim e fo r the d ep osit o f the 6 % notes m aturing Jan. 1 1907,
the 43dz% collateral trust b on d s m aturing F eb. 1 1907, and
the 5 % notes m aturing Sept. 1 1908, under the offer o f e x ­
change fo r new 5 % n otes, exp ired on July 16, b u t the ba n k ­
ers, L ad en bu rg, Thalrnann & Co. and H allgarten & C o ., h ave
con sen ted to exten d the tim e fo r the d ep osit o f these securi­
ties, the p rivilege to be term inable at any tim e. See term s
o f exch ange in V . 82, p . 1497.
Mohawk Valley Co. of Utica.— New

Stock for Trolley Hold­

ing Company of New York Central L in es. — A certificate has

been filed at A lb a n y increasing the au th orized issue o f
cap ital stock from $10,000,000 to $20,000,000. O f the
$10,000,000 stock recen tly o u tsta n d in g , $6,000,000 o f the
sto ck was ow n ed b y the N. Y . Central & H u dson R iv e r R R .
and $4,000,000 b y the A ndrew s Stanley sy n d ica te o f C leve­
lan d . C om pare p . 70 o f “ Street R a ilw a y ” section and see
H u d son V alley R y . a b o v e .— V . 82, p. 392.

Nashville (Tenn.) Railway & Light Co.— New

Bond

I s s u e . — T he shareholders

a d op ted July 18 a p ro p o sitio n to
m ake a new issue o f $15,000,000 b o n d s, o f w h ich $6,000,000
w ill be ap p licable to the retirem ent o f a like am ou n t o f e x ­
istin g bon d s at or b efore m a tu rity (see page 64 o f “ Street
R a ilw a y ” s e ctio n ). A n officer o f the com p a n y is qu oted :
The company will sell $1,500,000 at once, and begin a number of ex­
tensive improvements. We hope and believe that there will be no oppo­
sition to the issue, for if Nashville continues to grow as it has in the past
few years we will need the money sooner than many people might believe.
Only a few years ago we built the transfer station, and in this short time
find it wholly unequal to the great volume of travel. The power-house is
practically new, but we find that we have not near enough power to meet
the growing demand with a continued increase. These and the numerous
extensions will call for the outlay of great sums of money, and, in my
judgment, we will need even more than the $1,500,000 we have decided
to set aside for that purpose. We intend building a number of suburban
lines and these will cost a great deal of money.— V. 83, p. 38.

National RR. of Mexico.'— First

Dividend. — T he b oa rd o f

directors on Ju ly 16 declared a d iv id en d o f 1 % on the $32,000,000 preferred cap ital s to ck , p a ya b le at the office, 60
W all S t., on A u g. 10 to stock h old ers o f record July 31 1906.
— V . 82, p . 1380.

New York Auburn & Lansing (Electric) RR.— New Enter­
prise— Bonds Offered.— A . H . F lint & C o ., 15 B road S t.,
N ew Y o r k , are offering at 97)^2 and interest a b lo c k o f first
m ortgage 5 % gold bon d s o f $1,000 each , dated June 1 1905
and due June 1 1935, b u t redeem able at 105 and interest on
any cou p on d a y after 1915. In terest p a y a b le June 1 and
D ec. 1 at the K n ick e rb o ck e r T rust Co. o f New Y o r k , trustee.
T ota l b o n d issue, $1,000,000.
W . L . F a irch ild , con su ltin g engineer, N ew Y o r k , says:
Incorporated under the laws of New York State to construct and oper­
ate with electric power a railway from Ithaca to Auburn, 34.6 miles, with
5 miles of sidings; 75-lb. rail, gravel ballast; eight 52-ft. combination
motor cars and two electric locomotives; five 15-bench open trailers, 25
freight cars and one rotary snow plow. Being chartered as a steam
railroad, and not as a street railway, its charter is perpetual, with the
right of eminent domain. Is to be built substantially, and entirely on
its own rights of way outside of the terminal cities. Population to be
served, 79.61S, viz.: Auburn, 40,000; Ithaca, 17,000; Aurelius, 1,563;
Fleming, 1,183: Scipio, 1,822; Venice, 1,596; Genoa, 2,282; Lansing,
2,805; Ithaca (town), 1,667; interurban population, 6,000; students
Cornell University, 3,500; students AVells College, 200. Estimated gross
earnings, $378,854 (passengers at $3 per capita, $238,854; freight at
$3,200 per mile, $112,000' business from other railroads, $10,000; express
earnings, $12,000; switching for N. Y . C. &*H. R. R R ., $4,000; adver­
tising, $2,000); operating expenses, 60%, $224,912; net earnings,
$153,942; taxes, $8,000; interest on bonds, $50,000; balance, surplus,
$95,942. A satisfactory contract has been entered into with the Niagara
Lockport & Ontario Power Co. (V. 82,'p. 395) for power to be delivered
along the line of the road.
Norfolk & Portsmouth Traction Co.— Called Bonds.— The

N orfolk P ortsm ou th & N ew port News Co. first collateral
m ortgage 5 % g old bon d s have been called for red em p tion at
105 and in terest at the T rust C om pany o f A m erica, New
Y o r k , on D ec. 1.— V . 82, p . 1323, 104, 1869.
Norfolk & Western Ry.— Equipment Trusts Offered.-— The
G uaranty T rust Co. o f N ew Y o r k is offerin g on a 4 z/i %
basis the $1,000,000 o f 4 % series H eq u ipm en t trust certifi­
cates. See descrip tion in the “ C h ron icle” last w eek on
page 96.
Northern Pacific Terminal Co.-— Called Bonds.— T h irty
($30,000) first m ortgage bon d s o f 1883 h ave been drawn
and w ill b e redeem ed b y the F arm ers’ L oan & Trust Co. on
A u g. 4 1906 at 110 and accrued in terest.— V . 82, p. 162.
North Shore RR., California.— A n assessm ent o f $10 per
share, it is stated, has been levied on the capital stock
($ 6 ,0 0 0 ,0 0 0 ), p a y a b le at o n ce .— V . 80, p . 1913.
Pennsylvania Company.— Collateral for $50,000,000 ( A m er­
ican ) Improvement N otes. — T he collateral d ep osited w ith the
F id elity T rust Co. o f P hilad elp h ia, as trustee, to secure the
issue o f $50,000,000 4 J ^ % collateral im p rovem en t notes
dated fM ay 1 1906 and due N o v . 1 1907 (A m erica n issue, see
V.^82, p . 1157), includes:

[V o l . L x x x m .
Total.
Issued.

Vandalia IIR. stock______ $14,649,546
Pitts. Cin. Chic. & St.
Louis Ry. pref. stock s 27,457,100
Phila. Bait. & Wash. RR.
stock __________________ 23,493,550
Nor. Central Ry. stock.
17,193,400
Norf.&West.Ry.prcf..stock 23,000,000
do
do
com. stock 66,000,000
Balt. & Ohio com. stock 124,580,000
Total ______________________________

Amount
Appraised Value.
Deposited. Per share. Total.
$7,500,000

$85

$6,375,000

11,000,000

100

11,000,000

40
99
90
86
106

5,600,000
17,820,000
4,950,000
9,890,000
6,890,000

14,000,000
18,000,000
5,500,000
11,500,000
6,500,000
$74,000,000

$62,525,000

1.— “ If at any time the market value of the securities pledged
hereunder shall fall below 120% of the total par value of the collateral
notes then outstanding and unpaid, the Pennsylvania Co. agrees at the
request of the trustee to deposit such amount of additional securities as
shall bring the value of the securities pledged up to 120% of the par value
of the collateral notes outstanding and unpaid.”
N o t e 2.— Of the share capital of the aforesaid companies there have
also been pledged to secure obligations of the Pennsylvania Company
(other than its French issues) the following amounts at par: (1) To se­
cure the $20,000,000 gold trust certificates of 1901 (since reduced to
$14,664,000), $11,200,000 Pittsburgh Cincinnati Chicago & St. Louis
preferred, $4,500,000 Norfolk & Western preferred and $4,500,000 Balti­
more & Ohio preferred stocks. (2) As security for the 820,000,000
4 per cents dated April 1 1906 and due April 1 1936, Baltimore & Ohio
RR. common stock, $10,000,000; Pittsburgh Cincinnati Chicago & St.
Louis Ry. common stock, $14,000,000; Vandalia R R . stock, $4,000,000.
— V. 82, p. 1439, 1157.
N o te

P ensacola (F la .) E lectric C o.— A m alga m ation — N ew S e ­
cu rities. — T his co m p a n y , in corp ora ted on July 6 under the
laws o f the State o f M aine, does th e entire electric railw ay
business o f P ensacola, F la ., and con trols the entire electric
lightin g business b y ow nership o f all the stock s and bon ds
o f the E scam bia C ou n ty E le ctric L ig h t & P ow er Co.
CAPITALIZATION.
Bonds: First mortgage 25-year 5% gold, dated Aug. 1 1906,
due Aug. 1 1931; interest payable Feb. 1 and Aug. 1.
Callable as a whole at 105 and interest at any time, and in
part for sinking fund only. Sinking fund: 1 K % per
annum of bonds outstanding; first payment due Dec. 1
1907, first five payments may be waived by board of direc­
tors; payments become a fixed charge beginning Dec. 1
1912. Authorized issue__________________________________$1,500,000
Issued_____________________________________________$750,000
Reserved to be issued for permanent additions or
improvements to the extent of 80% of the cost
th ereof_________________________________________ 750,000
Preferred Stock: (Shares S100 par) 6% , non-cumulative until
and including Dec. 1 1906, and cumulative thereafter.
Preferred as to dividends and in case of liquidation. Re­
deemable at 115. Authorized____________________________
500,000
Issued_______________________________„ ____ ____ $300,000
Unissued______ __________, ____________________ 200,000
Common stock: (Shares $100 par). Authorized and issued__
800,000

Stone & W eb ster, B oston , w ill m anage the p rop erty .
See V . 82, p . 1213.
Q uebec N ew B ru n sw ick & Nova, S cotia R y .— A m a lga m a *
tio n . — See Great N orthern R y . o f Canada a b o v e .— V . 82,
p. 988.
St. L ouis & S uburban R y .— S a le. — See U n ited R a ilw a y s
o f St. L ouis b e lo w .— V . 83, p . 39.
San F ra n cisco & N orth P a cific R y .— Called B o n d s . — The
M ercantile T rust Co. o f N ew Y o r k w ill p a y on F eb. 7 1907,
at 110 and in terest, $22,000 b o n d s o f 1889 draw n for the
sinking fu n d .— V . 81, p . 1490.
Seaboard C o m p a n y . — H old in g C o m p a n y — Im p ortan t C on­
n ection . — See Cum berland C orporation a b o v e .— V. 83, p . 39.
South & W estern R y .— H old in g C o m p a n y .— E xten sion to
B e C om pleted . — See Cumberland Corporation above. — V . 82,
p. 510.
T oled o & W estern (E lectric) R y .— D ep osits of S toc k . —
Considerable m ore than a m a jo rity o f the stock has assented
to the p ro p o sitio n to sell to the N u tt sy n d icate at $6 25 per
share (par $100). A circu lar recen tly sent o u t b y the sto ck ­
h olders’ com m ittee saj^s in substance:
Since our communication of July 6 the committee has continued
the negotiations in reference to the sale of the property (subject to the
debts and liabilities of the road) for $100,000 and have been assured that
if the stockholders will consent to such a sale by the deposit of their stock
with the Citizens’ Savings & Trust Co. prior to July 21 1906, the sale can
be consummated. In view of the fact that the net earnings of the road
for the past year were less than the interest on its bonded and floating
debt, and that the purchasers must raise practically $394,000 (equal to
$25 per share of stock) to pay the floating debt, the committee believes
that the price proposed is a fair one, and that it is for the best interests
of the stockholders to accept it. See V. 83, p. 97, 39.

U nion P acific R R .— C on version . — Of the 4 % con v ertib le
bon d s o f 1901, $569,000 rem ain ou tsta n d in g. C om m on stock
n ow $195,460,900.—-V . 82, p . 1270, 1041.
U nited R a ilw a y s C om pany of St. L o u is .— T o Vote on P u r ­
chase.— T he shareholders w ill v o te A ug. 8 on a p rop osition
“ to acquire all o f the p ro p e rty , rights and franchises o f the
St. L ouis & Suburban R a ilw a y .”
C om pare V . 83, p . 39.
U n ited R a ilw a y s & E lectric C o., B a ltim ore.— F in a n cia l
P la n — In com e C ou pon s to B e F u n d ed T ill D ec. 2 1910.— T he
com p a n y issued on J u ly 17 a financial p lan , w h ich has been
u n an im ou sly a d op ted b y the b o a rd o f directors and a p p roved
b y the in com e bon d h old ers com m ittee. T he plan p rovid es
(1) for the fu n din g o f all cou p on s o f assenting 4 % in com e
bon d s (tota l issue $14,000,000) fro m June 1 1904 to D ec. 1
1910, in clu siv e, in to 5 % 30-jmar bon d s (n ot m ortga g e), to
b e issued b y the co m p a n y . I f all the in com e bon dholders
assent (the assent o f an am ou n t sa tisfa ctory to the com p a n y ,
n o t the entire issue, is req u ired ), the new 5s w ill eventually
aggregate $3,920,000, o f w h ich $1,400,000 w ill b e issued at
on ce in exch an ge, dollar for d ollar, fo r the five cou p on s,
June 1 1904 to June 1 1906, and the rem ainder from tim e
to tim e as the in com e interest m atures, u ntil and in cluding
D ec. 1 1910, w hen cash paym en ts are to b e resum ed. The

TIIE CHRONICEL.

J u l y 21 1906.]

fu n d in g o f t h e c o u p o n s w ill le a v e th e c o m p a n y fre e t o a p p ly
it s su r p lu s in c o m e t o i m p r o v e m e n t s a n d r e c o n s t r u c t io n o n
th e p o r t io n o f th e p r o p e r t y c o v e r e d b y it s m o r t g a g e s .
••
T h e p la n a lso p r o v id e s fo r th e c o n s o lid a t io n o f th e B a l t i­
m o re <fr A n n a p o lis S h o r t L in e H R . , (a n u n b o n d e d 2 2 -m i l e
s t e a m ro a d “ w h ic h s h o w s n e t e a r n in g s o f § 7 0 , 0 0 0 ' ’ p e r a n ­
n u m a n d p a y s 8 % d i v i d e n d ) , w it h th e n e w M a r y la n d E le c tr ic
R y.
P rio r to c o n s o lid a t io n th e S h o r t L in e C o m p a n y w ill
m a k e a m o r t g a g e t o p r o v id e fo r t h e e le c tr ific a tio n a n d i m ­
p r o v e m e n t o f it s p r o p e r t y .
T h e c o n s o lid a t e d c o m p a n y w ill
th e n b e fr e e to m a k e a m o r t g a g e s e c u r in g S S .0 0 0 ,0 0 0 5 % 2 5 y e a r g o ld b o n d s , a p p lic a b le to fu r t h e r im p r o v e m e n t s a n d
a d d it io n s .
O f t h is la t t e r issu e it is c o n t e m p la t e d to u se a t
p re se n t n o t m o r e t h a n § 4 , 0 0 0 . 0 0 0 b o n d s to p r o v id e fo r th e
a c q u is it io n o f re a l e s t a t e , te r m in a l s t a t i o n s , ca r b a r n s , a n d
e x te n s io n s n e e d e d b y th e U n it e d R a i l w a y s & E le c t r ic C o . , b u t
c o n s t i t u t in g “ n e w p r o p e r t y ” to b e o w n e d b y t h e a fo r e sa id
c o n s o lid a te d c o r p o r a t io n a n d le a se d to t h e U n it e d R a ilw a y s
& E le c tr ic C o .
In b r ie f , th e o fficial p la n p r o v id e s :
F unding of Incom e Interest Till D ec. 1 9 1 0
Certificates.

into C om pany’s

5 %

3 0 -F e a r

F irst—
houses a
under t h
m ay be

F o r tra ck re co n stru ctio n a n d rep a ir, im p r o v e m e n ts to p o w e r
n d for th e gen eral im p r o v e m e n t a n d b e tte rm e n t of p ro p e rty n o w
e m o rtg a g e s of th e U n ite d , th e in c o m e of th e c o m p a n y , w ith w h a t
r e a l i z e d f r o m t h e s a l e o f p r o p e r t y , w i l l b e u s e d f o r t h e n e x t 4 Y>
years. T h e c o m p a n y t h e r e f o r e p r o p o s e s t o f u n d t h e i n c o m e c o u p o n s
fro m J u n e 1 1 9 0 4 to a n d in c lu d in g D e c . 1 1 9 1 0 .
T h e i n c o m e b o n d h o l d e r d e p o s i t i n g h i s b o n d s w i t h t h e c o m p a n y ’s
agent w i l l r e c e i v e o % 3 0 - y e a r c o u p o n b o n d s d a t e d - J u n e 1 1 9 0 6 a t p a r
for t h e i n c o m e c o u p o n s f r o m J u n e 1 1 9 0 4 t o J u n e 1 1 9 0 6 i n c l u s i v e .
There w i l l a t t h e s a m e t i m e b e s t a m p e d u p o n t h e b o n d s a n d u p o n t h e
c o u p o n s d a te d fro m D e c . 1 1 9 0 6 to D e c . 1 1 9 1 0 , in c lu siv e , a referen ce
to th e a g r e e m e n t o f th e c o m p a n y to issu e a t th e re sp e c tiv e d a te s o f su c h
c o u p o n s to th e h o ld e r s th e r e o f its 5 % fu n d in g b o n d s , o r scrip th e re fo r,
at p a r . T h e fu n d in g b o n d s w ill b e r e d e e m a b le at p a r a n d in te re st.
The c o m p a n y h a s b e e n a d v i s e d t h a t t h e i n t e r e s t o n t h e s e b o n d s w i l l b e
a p rio r lien to th e in c o m e c o u p o n s , a n d a n a g r e e m e n t to th is e ffe c t w ill
b e a p a rt o f th e fu n d in g p la n , w ith a referen ce to th e a g r e e m e n t n o te d
o n th e b o n d s an d co u p on s.
“ M arylan d E lectric R ailtvays” Consolidation.

Second— I t i s e s t i m a t e d t h a t i n a d d i t i o n t o t h e u
t h i s period, t h e U n i t e d s h o u l d h a v e t h e p r o c e e d s o f
bonds a v a i l a b l e f o r t h e a c q u i s i t i o n o f r e a l e s t a t e , t h e
stations, c a r b a r n s a n d o t h e r b u i l d i n g s , f o r c o n n e c t
to its p r e s e n t s y s t e m , f o r n e w e q u i p m e n t , a n d , b r o a d

a d d itio n s o f
w as secured
ments t o i t s
rop osed to
hort L i n e ,
some o t h e r a

E

all k in d s . T h e c h
b y in terests frie n d ly
ch arter ob ta in ed at
c o n so lid a te said c o
u n d er the n a m e of
p p rop ria te n a m e .

se o f its in c o m e for
a b o u t 3 4 ,0 0 0 ,0 0 0 of
erection o f term in a l
ion s a n d exten sio n s
ly sp ea k in g , for n e w
arter of th e M a ry la n d E lec tric R y . C o .
to th e U n ite d , an d th e n ecessary a m e n d ­
t h e la s t s e s s io n o f t h e L e g is la t u r e . It is
m p a n y w ith th e B a ltim o r e & A n n a p o lis
th e M a r y la n d E le c tric R a ilw a y s C o ., or

157

b y a first m o r t g a g e o n all s u c h real e s t a t e p u r c h a s e d a n d are
g u a r a n t e e d , p r in c ip a l a n d in t e r e s t , b y e n d o r s e m e n t , b y th e
W abash R R . C o.
T h e t i t l e to t h e p r o p e r ty r e m a in s in th e
B u ffa lo T e r m in a l A s s o c ia t io n ( s u b je c t to tlu- m o r tg a g e s e c u r ­
in g th e n o te s referred t o ) u n t il th e n o te s are p a id .
The
n o te s a re d a t e d J u n e 2 9 1 9 0 6 a n d a re p a y a b le J u n e 2 9 1 9 0 7 .
Offering of Equipment Bonds in Paris Nothing Unusual.— A
b lo c k o f th e $ 6 ,1 8 0 ,0 0 0 e q u ip m e n t b o n d s r e c e n t ly p u r c h a se d
b y L e e , H ig g in s o n & C o . (c o m p a r e V . 8 2 , p . 1 4 9 8 ) is b e in g
o ffe re d in P a r is t h r o u g h t h e B a n k o f D u p o n t & F u r lu u d .
T h is o ffe r in g is in n o w a y d iffe r e n t fr o m all th e f ir m ’s o ffer­
in g s o f A m e r i c a n b o n d s t h r o u g h th e ir P a r is r e p r e s e n ta tiv e s ,
M e ssr s. D u p o n t & F u r la u d .
T h e b o n d s w ill n o t b e issu e d
in F r e n c h fo r m a n d n o s p e c ia l sig n ific a n c e s h o u ld b e a tta c h e d
to th e o c c u r r e n c e .— V . 8 3 , p . 9 7 .
W e s t e r n O h io R a i l w a y .— New Stock.— T h e sh a r e h o ld e r s
w ill v o t e A u g . 15 o n in c r e a s in g t h e c a p it a l s t o c k fr o m
$ 3 , 0 0 0 , 0 0 0 , all c o m m o n , to $ 3 , 4 0 0 , 0 0 0 , b y t h e is s u a n c e o f
$ 4 0 0 ,0 0 0 6 %
c u m u l a t i v e p r e fe r r e d in e x c h a n g e fo r th e
$ 4 0 0 ,0 0 0 p r e fe r r e d s t o c k o f t h e L i m a F in d la y & T o le d o .
C om p are V . 8 3 , p . 97 .
W e t z e l & T y l e r (E le c t r ic ) R R . — Sale.— T h is r o a d , o p e r a t ­
in g 12 m ile s o f tr a c k e x t e n d in g fr o m N e w M a r tin s v ille to
S is t e r s v ille , W . V a . , is a d v e r t is e d to b e s o ld on J u ly 2 4 a t
P a r k e r s b u r g , W . V a . , b y H . P . C a m d e n , s p e c ia l c o m ­
m is s io n e r .
E . L . R o b in s o n h a s b e e n sp e c ia l r e c e iv e r a n d
G en eral M a n a g er.
IN D U S T R IA L , G A S A N D M IS C E L L A N E O U S .
A l a b a m a & G e o r g ia I r o n C o .— Dividend.— This company,
it is said, recently declared a dividend of 1% , payable out of
earnings to holders of record June 27. Capital stock $650,000 preferred and $650,000 common. No bonds. Office,
Cedartown, Ga.— V. 69, p. 907; V. 82, p. 1214.
A l lis C h a lm e r s C o . — Bond Issue Approved.— At a special
meeting of the stockholders July 16 the proposed mortgage
to secure an issue of bonds not exceeding $15,000,000 was
authorized and resolutions passed authorizing an offer to
both classes of the stock of $12,000,000 of the bonds at 80
and interest. Stockholders of record July 26 may subscribe
up to Aug. 15, inclusive, to the extent of 35 per cent of the
par value of their holdings. The official notice to stock­
holders will be found in our advertising columns and com­
pare official statement as to the issue in V. 83, p. 90.

Short Line to m ake Separate B ond Issue.
—
T h e S h o rt L in e is a v a lu a b le p r o p e r ty , h a v in g a t p re s e n t n o m o r tg a g e
debt, b u t i t w i l l , p r i o r t o t h e c o n s o l i d a t i o n , a u t h o r i z e a n i s s u e o f b o n d s
to p r o r id e fo r th e e le ctrifica tio n , e q u ip m e n t , th e a c q u isitio n o f a d d itio n a l
p r o p e r ty a n d g e n e r a lly to p la c e th e S h o r t L in e in first-c la ss c o n d itio n fo r
electrica l o p e r a tio n . B y th u s p r o v id in g fo r th e e le ctrifica tio n o f th e S h o rt
Line p r i o r t o t h e c o n s o l i d a t i o n , t h e n e w M a r y l a n d E l e c t r i c R a i l w a y s C o .
w ill b e a b le to a n d w ill d e v o te th e e n tir e p r o c e e d s o f its p r o p o s e d issu e o f
bonds f o r p r o p e r t y t o b e u s e d b y t h e U n i t e d a l o n e
M aryland E lectric R ailw ays to A uthorize 3 8 , 0 0 0 , 0 0 0 B ond Issue.
After t h e c o n s o l i d a t i o n , i t i s p r o p o s e d t h a t t h e M a r y l a n d E l e c t r i c
Railways C o . s h a l l a u t h o r i z e a n i s s u e o f 3 8 , 0 0 0 , 0 0 0 f i r s E m o r t g a g e 5 %
2 5 -y e a r g o ld b o n d s , th e p ro c e e d s o f w h ic h , w h e n so ld , w ill b e u se d o n ly
for the p u r c h a s e o f r e a l e s t a t e , t h e a c q u i s i t i o n o r c o n s t r u c t i o n o f e x t e n ­
sions, e q u i p m e n t , & c . , t o b e l e a s e d t o t h e U n i t e d a t a n a n n u a l r e n t a l
equal t o 6 % u p o n a c t u a l c o s t .
It i s p r o p o s e d t h a t t h e r e s h a l l b e a s i n k i n g f u n d , w h i c h i n i t s g e n e r a l
t e r m s s h a h b e 1 }4 % p e r a n n u m o n t h e b o n d s , b e g i n n i n g i n 1 9 1 0 , t o b e
p a id as ren ta l o n th e lea ses to b e p re se n tly e x e c u te d . T h is fu n d , c o m ­
p o u n d e d , sh o u ld a p p r o x im a te fro m o n e -th ird to o n e -h a lf th e fa ce v a lu e
o f th e b o n d s so is s u e d . T h e r e w ill b e a sp e c ia l p r o v is io n , h o w e v e r , for
e q u ip m e n t le a se s a n d le a se s if a n y d a te d s u b s e q u e n tly to 1 9 1 0 , w h ic h
w ill s tr e n g th e n th e sin k in g fu n d fe a tu r e a s to th e se ite m s .
At m a t u r i t y o f t h e b o n d s t h e U n i t e d w i l l b e c o m e t h e o w n e r o f a l l t h e
p r o p e r t y le a s e d t o it u p o n p a y m e n t o f a s u m w h i c h ( w i t h t h e s i n k i n g f u n d
p r o v id e d ) w ill b e su ffic ien t to re tire s u c h b o n d s . T h e U n it e d w ill r e se rv e
th e rig h t to p u r c h a s e all th e le a se d p r o p e r ty a t a n y t im e u p o n p a y m e n t
of a s u m s u f f i c i e n t t o r e d e e m a l l o u t s t a n d i n g b o n d s .
Only 3 4 , 0 0 0 , 0 0 0 Thereof N eeded at P resen t.
It i s d e e m e d a d v i s a b l e t o a u t h o r i z e 3 8 , 0 0 0 , 0 0 0 o f b o n d s t o c o v e r a l l
possible r e q u i r e m e n t s f o r y e a r s t o c o m e , a l t h o u g h i t i s n o t c o n t e m p l a t e d
that m o r e t h a n t h e p r o c e e d s o f 8 4 , 0 0 0 , 0 0 0 w i l l b e n e e d e d f o r t h e p r e s e n t .
It is q u i t e p o s s i b l e t h a t t h e U n i t e d m a y l a t e r o n b e a b l e t o s e l l a s u f f i c i e n t
amount o f its u n i s s u e d s t o c k f o r e n o u g h t o p a y o f f a l l o u t s t a n d i n g b o n d s a t
o r prior t o m a t u r i t y . T h e b a l a n c e o f t h e b o n d s a u t h o r i z e d b u t u n i s s u e d
will r e m a i n w i t h t h e t r u s t e e t o b e i s s u e d o n l y u p o n t h e c e r t i f i c a t e o f t h e
boards o f d i r e t o r s o f t h e t w o c o m p a n i e s t h a t t h e p r o c e e d s o f t h e b o n d s
are to be u s e d f o r t h e a c q u i s i t i o n o f p r o p e r t y t o b e l e a s e d t o t h e U n i t e d
upon the s a m e t e r m s a s h e r e t o f o r e s e t o u t . T h e b o n d s w i l l b e r e d e e m a b l e
at 1 10 a n d accru ed in terest.
The n e w b o n d s (1 >w i l l b e a f i r s t l i e n u p o n a l l t h e n e w t e r m i n a l s t a t i o n s ,
car b arn s, ex ten sio n s, co n n ection s a n d oth er p ro p e rty to b e u sed b y th e
United. ( 2 ; T h e i r i n t e r e s t w i l l b e a s s u r e d b y t h e f i x e d o b l i g a t i o n o f t h e
United t o p a y a r e n t a l s u f f i c i e n t t o c o v e r t h e i n t e r e s t , a n d t h e p r i n c i p a l
further s e c u r e d b y t h e U n i t e d ’ s o b l i g a t i o n t o p u r c h a s e t h e p r o p e r t y a t
th e m a tu r ity o f th e b o n d s o r u p o n a n y d e fa u lt in th e re a ta l a t a p rice
sufficient t o r e d e e m t h e b o n d s .
(3 ) T h e y w ill b e fu r th e r s e c u r e d b y th e
sinking f u n d h e r e t o f o r e r e f e r r e d t o . t o b e p a i d t o t h e t r u s t e e o f t h e m o r t ­
g a g e . (4 ) T h e y w ill h a v e th e d ire c t o b lig a tio n o f th e M a r y la n d E le c tric
R a ilw a y s C o ., o w n in g th e S h o r t L in e p ro p e rty .

A m e r ic a n S e e d in g -M a c h in e C o ., S p r in g fie ld , O h i o .— Divi­
dends.— Treasurer Burton J. W estcott favors us as follows:

— L e e , H ig g in s o n & C o . , B o s t o n , r e c e n t ly p u r c h a se d fr o m
t h e je it y o f B u ffa lo fo r § 9 0 1 , 0 0 0 , in th e in te r e s t o f th is c o m ­
p a n y ,16„th e s o -c a lle d “ H a m b u r g C a n a l s t r i p ,” w h ic h , i t is
u n d e r s t o o d , w ill b e u sed a s th e s ite o f a la r g e p a s s e n g e r
s t a t io n
In c o n n e c tio n w it h th is t r a n s a c t io n th e re h a s b e e n c r e a te d
an issu e o f “ B u ffa lo T e r m in a l A s s o c ia t io n first m o r t g a g e 6 %
o n e -y e a r n o t e s .”
T h e to ta l issu e is 8 1 , 1 0 0 , 0 0 0 , o f w h ic h
$ 8 3 5 ,0 0 0 h a v e b een is s u e d .
T h e r e m a in in g n o te s ( $ 2 6 5 ,0 0 0 )
can o n ly ^ b e is s u e d ffo r 9 0 % o f th e c o s t o f fu r t h e r real e s ta te
to^be’ p u r c h a se d ^ b y th e A s s o c ia t io n .
T h e n o te s are se cu r ed

C o n s u m e r s ’ L i g h t & H e a t in g C o ., F o r t W o r t h , T e x . — New
Stock.— T h is c o m p a n y has filed an a m en d m en t to its charter

A fte r A u g . 1 1 9 0 4 th ere w a s n o d iv id e n d p aid b y th e N e w J ersey co r­
p o r a t i o n u n t i l J a n . 1 5 1 9 0 6 , w h e n t h e r e w a s p a i d a d i v i d e n d o f 1% u p o n
t h e p r e f e r r e d s t o c k , w h i c h it w a s e x p e c t e d t o m a i n t a i n q u a r t e r l y . H o w ­
ever, as of A p ril 1 1 9 0 6 th e in co rp o ration w a s ch a n g e d fro m N e w J ersey
to O h io . T h e O h io co rp o ra tio n a s s u m e d th e p a y m e n t A p ril 15 o f d iv i­
d e n d of 1 % u p o n th e N e w J e rse y p referred sto c k . T h e d iv id e n d s u p o n
t h e O h io s t o c k s a c c r u e d f r o m A p r il 1 a n d t h e first q u a r t e r ly d iv id e n d s o f
l lA % u p o n t h e p r e f e r r e d a n d 1 % u p o n t h e c o m m o n w e r e d e c l a r e d p a y a ­
b le J u ly 1 5 to h o ld e rs o f re c o rd J u n e 3 0 , a n d s a m e w ill h e p a id q u a r te rly
h e r e a fte r .— V . 8 3 , p . 4 0 .
B a y S t a t e G a s C o . — Decision.— Judge Putnam in the
United States Circuit Court at Boston on Wednesday handed
down his decision in the suit of George W. Pepper as receiver
of the Bay State Gas Co. of Delaware against Henry H.
Rogers to recover profits derived by Mr. Rogers from the
sale in 1897 of the Boston gas properties to the New England
Gas & Coke Co.
O n O ct. 31 1 8 9 6 th e B a y S ta te G a s C o . of D ela w a re ap p o in ted H . H .
R o g e rs a n d tw o asso ciates as tru stees to m a n a g e th e B o s to n , S o u th
B o sto n , R o x b u r y a n d B a y S tate of M a ssach u setts G a s co m p an ies. In
D e c e m b e r 1 8 9 7 M r . R o g e r s s o ld all o f h is in te r e s t in th e B r o o k lin e a n d
D o r c h e s te r c o m p a n ie s to th e N e w E n g la n d G a s & C o k e C o ., d e liv e rin g
at th e sa m e tim e th e m a n a g e m e n t of th e oth er co m p an ies n a m e d a b o v e.
T h e co u rt h o ld s th a t w h ile M r . R o g e r s w a s n o t g u ilty o f a n y b re a ch o f
tru st, h e sh o u ld p a y to th e receiver a n e q u ita b le p ro p o rtio n o f th e e x c e ss
p ro fits (sta te d to b e 3 3 ,0 0 0 ,0 0 0 ) w h ic h w e re d e riv e d fro m th e sale o f th e
B r o o k lin e a n d D o r c h e s t e r p r o p e r tie s t h r o u g h t h e d e liv e r y a t tlie s a m e
t im e o f t h e o t h e r p r o p e r tie s . M r . M o o r fie ld S t o r e y is a p p o in t e d m a s t e r
to a p p o r tio n th e p ro fits, w h ic h , in th e a b s e n c e o f a n y o th e r d e fin ite ru le ,
are to b e a llo w e d o n e -h a lf to th e c o m p la in a n t a n d o n e -h a lf to M r . R o g e r s.
— V . 82, p. 989.
B r o o k ly n B o r o u g h ( N . Y . ) G a s Co.-— Bonds.— The com­
pany has applied to the State Gas & Electricity Commission
for authority to issue $135,000 general mortgage bonds,
making its total funded debt $750,000. V. 81, p. 1102, 267.
C a n a d a C ar C o ., M o n t r e a l . — Description of Plant.— See
“ Railroad Gazette” of June 8 1906.— V. 79, p. 2749, 2459.
C lin c h fie ld C o r p o r a t io n . — Holding Company.— See Cum­
berland Corporation under “ Railroads” above.— V. 80,
p. 346.
C o n s o lid a t io n C o a l C o . o f Maryland.— Securities Trans­
ferred to a Subsidiary.— The shareholders on Monday ratified
A le x a n d e r B r o w n & S o n s h a v e b e e n n a m e d fisca l a g e n ts the sale of $400,000 of bonds and $500,000 of stock of the
b y th e c o m p a n y to r e p r e s e n t it in th e d e a l .— V. 82, p. 1440. Southern Coal & Transportation Co. (V. 82, p. 1154) to the
| W a b a s h R R . — Bujjalo Station— Guaranteed Terminal Notes. subsidiary Fairmont Coal Co.— V. 82, p. 1154.

in c r e a s in g its c a p ita l sto ck from $ 1 0 0 ,0 0 0 to $ 2 0 0 ,0 0 0 .

Contra Costa Water Co., Oakland, Cal.—-lOrsl

I n s t a lm e n t

Paid— Bonds in Part Payment.— A press d i s p a t c h from O a k ­

land states that the first instalment, about $500,000, b on g
50% of the cash due on its purchase of control, lias been
paid by the Realty Syndicate (V. 79, p. 2746), winch will
pay the remaining 50% cash in six months’ time. In an- ition about $2,500,000 bonds will be given as part payment.

158

THE CHRONICLE.

[ V O L . L X K X L II.

T h e re is o u ts ta n d in g $ 5 ,7 0 2 ,6 0 0 s to c k lin js h a r e s ’ o f $1 0 0 each
a n d th e p r ic e p a id p er sh are fo r c o n tr o l is s ta te d as $20 cash
a n d $50 in b o n d s .
T h e C o n tra C osta has a b o u t $ 5 ,6 0 0 ,0 0 0
b o n d s o f s e v e ra l issues o u ts ta n d in g , in c lu d in g d iv is io n a l
bonds.
See V . 8 1 , p . 976; V . 7 6 , p . 1246. — V. 8 2 , p . 1442.

G rea t Sou th ern R e fin in g C o. of B e a u m o n t.— Sold,.— A t
fo r e c lo s u r e sale in B e a u m o n t o n J u ly 3 th e p r o p e r t y w a s
in b y J . D . W ilk e r s o n fo r $ 3 ,0 0 0 .
T h e re fin in g p la n t
n o t b e e n o p e r a te d in a lo n g tim e , a n d , it is s a id , w ill b e
m a n tle d .

C o p p e r R a n g e C o n s o lid a t e d C o .— Dividend No. 6.— The
company paid on July 2 quarterly dividend No. 6, of $1 25
per share (1^4%). Dividend record:
A p r . 1 ’0 5 _ _ _ _ $ 1 — l % | S e p t . 3 0 ’0 5 - -. S I — 1 % IM c h .3 1 ’0 6 . S 1 P 5 - 1 % %
J u ly 1 ’0 5 _ _
1 — 1 % ( D e c . 2 3 ’0 5
S I — 1 % [J u ly 2 ’0 6 . 1 2 5 - 1 M%
D iv id e n d r e c o r d o f t w o s u b s id ia r ie s .— (a ) B a ltic M in in g C o .: M a r c h 2 2
1 9 0 5 , S I; J u n e 23 1 9 0 5 , *1 5 0 ; S e p t. 23 1 9 0 5 , $ 2 50; D e c . 16 1 9 0 5 , $7 50;
J u n e 1 6 1 9 0 6 , $ 6 . (b ) C o p p e r R a n g e C o .: O c t. 4 1 9 0 5 , $ 1 5 0 ; D e c . 2 1
1 9 0 5 , $1 5 0 ; J u n e 1 6 1 9 0 6 , $1 5 0 .— V . 8 2 , p .5 7 2 .

G re e n e C o n s o lid a t e d C o p p e r C o .— O utput. — The “ Journal
of Commerce and Commercial Bulletin” on July 7 said: “ The
June output of the company is officially estimated at about
3.500.000 pounds, against normal monthly output of 5,000,000 pounds. An official says: ‘ Except for the temporary set­
back occasioned by the recent disturbance at Cananea, the
mines have been in full operation and continue to show
satisfactory results. Business has been good and docs not
justify a decline in the stock.” The com pany’s last monthly
circular Avas issued last January. (See V. 82, p. 221.)
Hayden, Stone & Co., Boston, in their weekly circular,
publish a long letter from President Greene, Avritten from
Cananea on Julv 7.— V. 83, p. 99.
I n d ia n a p o lis T e le p h o n e C o .— Interest in Company.— See
report of United States Independent Telephone Co. under
“ Annual Reports” on a preceding page.— V. 82. p. 1382.

E . I . d u P o n t de N e m o u r s P o w d e r C o ., W i l m i n g t o n , D e l . —

New Bonds— Retirement of Portion of Preferred Stock.— The

com pany’s offer to exchange bonds for preferred stock
having expired, we are now in position to give the following
information:
The company was incorporated under the laws of New
Jersey May 19 1903 and took over various properties con­
trolled by duPont and other interests. At a meeting of the
stockholders held last May a bond issue aggregating $16,000,000 was authorized. This bond issue is secured by an inden­
ture under which the Guaranty Trust Co. of New York
acts as trustee. The bonds bear interest at the rate of 4 x/ i%
per annum, payable semi-annually on the 1st day of June
and December and mature June 1936. They can be called
for redemption prior to maturity by payment therefor at
the rate of $1,100 for each $1,000 bond. Principal and
interest are payable in gold. Denomination $1,000. Inter­
est payable at office of company or its agency in New York.
The indenture securing the bonds covers a first charge upon
all the property of E. I. duPont de Nemours Powder Co.
There are certain bonds issued by some of the subsidiary
companies and secured by property in which the Powder
Company is largely interested, which aggregate approxi­
mately $6,000,000. For the purpose of retiring these bonds
about $6,500,000 of the $16,000,000 of bonds authorized
under the present issue have been reserved. After such ex­
change is accomplished there will be, no charge or lien upon
the property of any of the subsidiary companies nor upon
the property of the Powder Company which will be prior
or equal to the charge in favor of this new $16 ,000,000 bond
issue. The issue is not secured by mortgage or deposit of
collateral, but through the aforesaid indenture it is a first
charge on the entire property.
T o ta l b o n d s a u th o riz e d _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ $ 1 6 ,0 0 0 ,0 0 0
E x c h a n g e d fo r p r e f e r r e d s t o c k _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ $ 9 ,2 ~ 0 ~ 0 ,o 6 6
E x c h a n g e d for su b sid ia ry b o n d s _ _ _ _ _ _ _ _ _
_
1 ,0 1 2 ,0 0 0 -------------.
$ 1 0 ,2 1 2 ,COO
L e a v in g a b a la n ce u n issu ed to ta k e u p th e re m a in in g su b ­
sid ia ry c o m p a n y b o n d s _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ $ 5 ,7 8 8 ,0 0 0
P r e f e r r e d s t o c k o u t s t a n d i n g a f t e r t h e a b o v e b o n d is s u e is
c o n s u m m a t e d a n d th e s u b s id ia r y b o n d s a r e re tire d w ill
a m o u n t t o ------------------------------------------------------------ $ 1 2 ,7 8 9 ,0 7 5
C o m m on stock _ _ _ _ _ _ _ _ _ _ _
____
__ _
_
«24 151 870
— V . 83, D. 99.
E le c t r ic D e v e l o p m e n t C o . o f O n t a r io , L t d . — New Direc­
tors.— The number of directors, it is stated, has been increased

from five to eight by the addition of W. R. Brock and E. R.
W ood, Toronto, and A. M. Grenfell of London.
Purchase. — The shareholders will vote Aug. 7 on purchas­
ing bonds and stock in the Niagara Falls Transmission Co.
(See V. 83, p. 41.)
Bonds.— The London Stock Exchange has been requested
to list $2,500,000 first mortgage sinking fund 5% gold bonds
of $500 each, Nos. 10,751 to 15,750.— V. 83, p. 40.
F a i r m o n t C o a l C o . — Acquisition. — See Consolidation Coal
Co. above.— V. 82, p. 1154.
G en eral A s p h a lt

C o .,

P h il a d e lp h ia .—

Second Dividend .—

Dividend No. 2 on the $13,139,000 preferred stock, 2% , was
declared on July 19, payable Sept. 1 to holders of record
Aug. 18. The first dividend (same amount) was paid on March
1 1908. The preferred shares are entitled to dividends of
5% per annum, cumulative since June 15 1905.— V. 82,
p. 1215.
G e n e r a l E le c tr ic C o . — A cquisition.— This company recently
bought out the Stanley Instrument Co. of Great Barrington.
Mass., whose plant for the manufacture of measuring in­
struments had been idle for some time owing to an injunc­
tion obtained by the General Electric to prevent infringe­
ment of patents.
Statement Filed M a y 1 0 1 9 0 6 by Stanley Instrum ent Co.
A ssets ( $ 4 2 1 , 3 6 4 ) —
Liabilities ( $ 4 2 1 , 3 6 4 ) - R e a l e s t a t e _ _ _ _ _ _ _ _ _ _ _ _ $ 5 6 ,0 6 6 ]C a p it a l s t o c k _ _ _ _ _ _ _ _ _ _ _ $ 3 0 0 ,0 0 0
M a c h in e r y _ _ _ _ _ _ _ _ _ _ _ _ 1 5 0 ,4 5 9 A c c o u n ts p a y a b le _ _ _ _ _ _ _
2 1 ,6 1 6
C a sh a n d d e b ts re c e iv a b le , 3 3 ,7 7 8 F u n d e d d e b t_ _ _ _ _ _ _ _ _ _
5 0 ,0 0 0
M a n u fa c tu re s a n d m e r c h ,, 5 3 ,7 8 0 F lo a tin g d e b t_ _ _ _ _ _
1 0 ,0 0 0
P a ten t righ ts_ _ _ _ _ _ _ _ _ _
4 3 , 0 3 2 D e p r e c ’f i p l a n t a c c o u n t , , , 3 9 . 7 4 S
E x p e rim en ta l, & c _ _ _ _ _ _ _
4 1 ,2 7 2
P ro fit a n d lo s s _ _ _ _ _ _ _ _ _
4 2 ,9 7 7
— V . 82, p. 1272.

G en eral V eh icle C o ., L o n g Is la n d C it y . — Successor Com­
p a n y .— T h is c o r p o r a t io n , o r g a n iz e d o n M a y 28 u n d e r th e

law s o f N ew Y o r k , w ith $ 1 ,7 5 0 ,0 0 0 o f a u th o r iz e d c a p ita l
s t o c k , r e c e n tly s u c c e e d e d to th e p la n t o f th e V e h ic le E q u ip ­
m e n t C o. a t L o n g Is la n d C ity (c o m p a r e V . 8 2 , p . 1160, 1 0 4 6 ).
T h e d ir e c to r s are:

P h illip S . H ill, F r a n k M . V a n W a g e n e n , C h a rle s H . C la rk . E d w a r d F .
M a g o ffin , all o f N e w Y o r k ; B . L . M a s o n , E a s t O r a n g e , N . J .; M . J . D u ff y ,
J ersey C ity; C . S . B a tt, T a rry to w n , N . Y .

I n t e r -S t a t e T e le p h o n e C o ., T r e n t o n , N . J . —

th e
b id
has
d is ­

Sale Aug.

15.

— The foreclosure sale, it is stated, will take place on Aug. 15.
See plan in V. 81, p. 1177. Special Master John T. Bird
on June 22 filed his report, shoAving:
A m o r t g a g e f o r 3 5 , 0 0 0 . 0 0 0 w a s e x e c u t e d t o t h e T r e n t o n T r u s t <fc S a f e
D e p o s it C o .; b o n d s w e re issu e d to th e a m o u n t o f S I .9 1 3 ,0 0 0 . L a t e r
th e T r e n to n T ru st & S afe D e p o sit C o . resign ed as tru stee a n d C a rro ll
R o b b in s w a s a p p o in t e d . O n J u ly 1 1 9 0 5 th e c o m p a n y d e fa u lte d in t h e
in terest o n th e b o n d s . T o ta l in terest d u e a n d u n p a id , 8 1 4 1 .0 8 4 ; to ta l
a m o u n t d u e for p rin cip a l a n d in terest, $ 2 ,0 5 4 ,0 8 4 .— V . 8 2 , p . 8 0 8 .
I r o n M o u n t a in ( M i c h .) L i g h t & F u e l C o . —

Bonds Offered.—

Karl R. Davies & Co., Union Trust Co. Building, Detroit,
are offering at par, Avith a bonus of 40% in stock, $75,000
5% first mortgage 30-year gold bonds of $500 each, dated
July 2 1906 and due July 1 1936, but subject to call at 105
and interest at company’s option on or after July 1 1916.
Interest payable Jan. 1 and July 1 at the Detroit Trust C o.,
trustee. A circular says in substance:
C o m p a n y o r g a n iz e d to in sta ll a n d o p e r a te a g a s p la n t ia th e c ity o f Ir o n
M o u n t a in , M ic h .; fra n c h ise g r a n te d b y C o m m o n C o u n c il O c t. 2 3 1 9 0 5 .
C a p it a l s t o c k , $ 1 5 0 ,0 0 0 . in 1 ,5 0 0 s h a r e s o f S 1 0 0 e a c h . A u t h o r i z e d 'p o n d
issu e , $ 1 0 0 ,0 0 0 , b u t $ 2 5 ,0 0 0 w ill r e m a in in h a n d s o f tr u st c o m p a n y * o
b e u s e d in e x t e n s io n s , if n e e d e d , a n d fo r n o o t h e r p u r p o s e .
M u ltip ly in g 2 ,8 5 0 feet, th e a n n u a l a v e ra g e c o n s u m p tio n o f ga s in
M i c h ig a n p e r c a p i t a , b y 1 0 ,0 0 0 ( I r o n M o u n t a i n ’s p o p u l a t i o n ) , w e h a v e
2 8 .5 0 0 .0 0 0 cu b ic feet, or th e p ro sp e c tiv e a n n u a l c o n s u m p tio n for Iro n
M o u n ta in ; th is m u ltip lie d b y 7 5 c e n ts, th e n e t p ro fit p e r 1 ,0 0 0 c u b ic fe e t,
g iv e s $ 2 1 ,3 7 5 g ro ss p ro fits; e s tim a te d a n n u a l e x p e n s e s , 8 7 ,5 0 0 (in terest
o n b o n d s , $ 3 , 7 5 0 ; t a x e s , r e n t o f o f f ic e , & c . , S 3 ’, 7 5 0 ) ; b a l a n c e , s u r p l u s ,
$ 1 3 ,8 7 5 , to w h ic h m u st b e a d d e d r e v e n u e to b e d e riv e d fro m th e b y ­
p ro d u c ts, n a m e ly c o k e , ta r a n d a m m o n ia , sa y , 8 9 ,7 9 3 . L o w e st p rice o f
g a s p e r 1 ,0 0 0 c u b ic fe e t to c o n s u m e r s , $ 1 2 5 . I r o n M o u n t a i n is t h e
c o u n t y se a t a n d la rg e st c ity in D ic k in s o n C o u n ty , o n e o f th e rich e st
c o u n t ie s in m in e r a ls in M ic h ig a n . I ts p o p u la t io n is 1 0 ,0 0 0 .
Officers: President, W . G. Mackintosh; Vice-President,
H. M. Wallace; Secretary, A. W . Glass; Treasurer, John P.
Glendon.
L a c le d e G a s L i g h t G o ., S t . L o u i s , B i o .—

Bonds Offered.—

N. W. Harris & Co., NeAv York, Chicago and Boston, having
previously placed $6,500,000 “ first and refunding” 5 % bonds
due 1934, are offering, by adA’ertisement on another page,
an additional $500,000. See full statement in V. 79, p. 1644.
Earnings.— The firm publishes the folio Avifjg earnings as
officially reported for the year ending May 31 1906; we
annex for comparison the results for the calendar year 1903
and the years ending Feb. 28 1905 and Aug. 31 1905:
Y ear
Gross
N et
Interest
B a la n ce J
Ending —
E arn in gs.
E arn in gs.
on B on d s.
Surplus.
M a y 3 1. 1 9 0 6 _ _ _ _ S 3 .3 1 6 ,9 7 7
$ 1 ,3 1 6 ,1 5 0
$ 8 1 3 ,6 8 0
$ 5 0 2 ,4 7 0
A u g . 31 1 9 0 5 _ _ _ _ 3 ,3 1 8 ,2 1 9
1 ,3 1 7 ,3 8 5
7 6 1 ,3 8 9
5 5 5 ,9 9 6
F e b . 2 8 1 9 0 5 __ _ _ 3 , 2 7 3 , 6 6 0
1 ,3 7 8 ,7 7 7
6 9 1 ,8 0 6
6 8 6 .9 7 1
D e c . 31 1 9 0 3 .. . . . 2 ,4 2 5 ,4 4 8
1 ,1 4 8 ,5 3 3
5 0 0 ,0 0 0
6 4 8 ,5 3 3
“ D iv id e n d s at th e rate of 5 % are b e in g p a id o n th e $ 2 ,5 0 0 ,0 0 0 o f p re ­
ferred sto c k a n d o n th e $ 8 ,5 0 0 ,0 0 0 o f c o m m o n sto c k . S in ce co n tro l o f
t h e c o m p a n y w a s a c q u ir e d b y t h e N o r t h A m e r ic a n C o ., t h e d a ily * c a p a c it y
o ' th e p la n t, a c co rd in g to th e a n n u a l rep o rt o f th e c o m p a n y for th e ca le n ­
d a r A’ e a r 1 9 0 5 , h a s b e e n i n c r e a s e d f r o m 8 , 0 0 0 , 0 0 0 c u b i c f e e t t o 1 6 , 5 0 0 , 0 0 0
cu b ic feet; m ile s o f m a in s fro m 5 0 9 to 7 9 5 , a n d n u m b e r o f serv ices fr o m
4 9 ,6 3 6 to 7 3 ,7 3 4 . O th e r e x te n siv e a d d itio n s a n d im p r o v e m e n ts , re c e n tly
c o m p l e t e d a n d i n p r o g r e s s , w i l l , it. i s b e l i e v e d , l a r g e l y i n c r e a s e t h e e a r n ­
i n g s . ’— V. 8 1 , p . 1 5 5 3 .
L ak e Erie & Ohio RiA*er Ship Canal C o .—

I n c o r p o r a tio n

.—

T h e A c t o f C on g ress a p p r o v e d J u n e 30 1906 in c o r p o r a t in g
th is c o m p a n y c o n ta in s th e fo llo w in g ; in te r e s tin g p a r tic u la r s
re g a rd in g th is p r o je c t e d c a n a l, w h ic h is t o ru n fr o m P it t s ­
b u r g h to n ear A s h ta b u la , a b o u t 105 m ile s , a n d to c o s t , it is
e x p e c t e d , a b o u t $ 4 6 ,0 0 0 ,0 0 0 .
J o h n E . Sharv is P r e s id e n t.
I n c o r p o r a t o r s .— Edward J. Llovd. George A. Kelly Jr., .John H. Jones, Henry
Buhl Jr.. Thomas P. Roberts. AAilliam J. East. George AV. Stewart. Emil Swensson,
Charles A. Fagan, George M. Lehman, James W. AA'ardrop, Burd S. Patterson
and John E. Shaw.
C a p i t a l i z a t i o n .— The capital stock shall not exceed 8400,000 per mile ol canal pro­
posed to be constructed, divided into shares of S100 each, and the bonded debt shall
not exceed S400.000 per mile of canal proposed to be constructed, and in no case
shall the bonded debt exceed the amount of stock subscribed for and paid in in
money, or property at its fair value.
M a i n o f f i c e .—The main office of the company shall be at the city of Pittsburgh,
Pa.: annual meeting the third Tuesday of January.
R a t e s .—Congress hereby reserves the right to regulate the rates to be charged by
said company, and the company shall be subject to the Inter-State Commerce Act.
C a n a l .—The company is empowered to construct a ship canal from some point on
the Ohio River between Beaver and Pittsburgh, Pa., thence by way of the Ohio,
Beaver and Mahoning rivers in Pennsylvania, and the Mahoning River in Ohio, to a
point at or near Niles. Ohio: thence northwardly to an accessible harbor on Lake
Erie, between the Pennsylvania and Ohio State line and the mouth of the Grand
River, in Ohio. Also a branch canal from the mouth of the Shenango River along
said river to a point at or near Sharon, Pa.; also from Niles, Ohio, along the Mahon­
ing River to Warren, Ohio: the said main canal connecting the Ohio River and Lake
Erie to be at least 12 feet, in depth and having a cross section of not less than 1,800
square feet of area Its locks on such main canals shall not be less than 340 feet long,
not less than 45 feet wide and not less than 12 feet deep, and between the Ohio River
and Lake Erie the total lockage shall not exceed 600 feet. Construction shall not
be begun until the company's plans have been approved by the Secretary of War.
If a sum equal to 10% of the capital stock shall not have been expended on ib j
main canal within three years, or if the main canal shall not have been finished
within 10 years after the passage of this Act, the franchise herein granted shall be
null and void.

J u l y 2 1 1 9 0 6 .J

THE CHRONICLE.

L o n g D is ta n c e T e le p h o n e & T e le g r a p h C o ., A la b a m a , & c .
— Mortgage.— A m o r t g a g e t o t h e A m e r i c a n T r u s t & S a v in g s
B a n k o f C h ic a g o , a s t r u s t e e , c o v e r i n g t h e c o m p a n y ’s e n t ir e
t e le p h o n e s y s t e m lo c a t e d in A l a b a m a a n d o t h e r S t a t e s w a s
file d s o m e t i m e sin c e in T e n n e s s e e , s e c u r in g a n issu e o f $ 1 , 0 0 0 , 0 0 0 6 % b o n d s b e lo w d e s c r i b e d .

159

aggregate amount shall have been diverted in New York state for a period of not
less than six months, the said Secretary may grant revocable permits to such individ­
uals, or companies, for the diversion of additional water to such amount if any as
in connection with the amount diverted on the Canadian side ahull not injure the
navigable capacity of said river, or the scenic grandeur of Niagara 1 alls and that the
quantity of electrical power which may by permits be allowed to be transmitted
from the Dominion of Canada into the United States shall be 160 000 horse power:
Provided further. That the said Secretary may issue revocable permits for the trans­
mission t)f additional electrical power so generated In Canada but in no event shall
the amount included in such permits, together with the said 100.000 horse power
and the amount generated and used in Canada exceed 350,000 horse power.
Section 3. Any person or company violating any of the provisions of this Act
shall on conviction be punished by a fine not exceeding $2,500 nor less than $500,
or by imprisonment (in the case of a natural person) not exceeding one year, or by
both such punishments. Structures used in violation of this Act may be removed
under order of court.

The company was incorporated in Albany on Feb. 20T905. Author­
ized capital stock SI.000,000, all of one class; outstanding $526,900; par
of shares SI00. The company has long distance lines under construction
and owns several local telephone exchanges; it also controls through a
majority interest the Clarksville (Term.) Home Telephone Co. Bonds
S ection 4 . T h e P resid en t Is req u ested to op e n n e g o tia tio n s w ith G reat B ritain for
dated July 1 1905, due July 1 1925, but subject to call at 105 on July 1
1910, or on any interest period thereafter; interest payable Jan. 1 and a trea ty fo r th e reg u la tion an d c o n tro l o f th e w a ters o f N iagara R iv e r an d its trib u ­
taries.
July 1 at Chicago and First National Bank. New York. Denominations
Section 5. This Act shall remain in force for three years at the expiration of which
$100. $500 and $1,000. Amount outstanding $440,000. Sinking fund time all permits granted hereunder by the Secretary of War shall terminate unless
of 1% from Oct. I 1907 to 1916 and thereafter
of 1% until maturity. sooner revoked by him.
Section 6. That for accomplishing the purposes detailed in this Act the sum of
There are no underlying liens. President, E. L. Barber, Wauseon, O.
$50,000 is hereby appropriated.
Secretary and Treasurer J. C. Monteith, Birmingham.
M e r i d i a n ( M i s s . ) W a t e r W o r k s C o .— Bonds Assumed. —
See “ Meridian’’ in “ State & City Departm ent” on another
page of this issue.— V. 82, p. 1382; V. 80, p. 1178.
M i c h i g a n S t a t e T e l e p h o n e C o . — Subscribers.— On May 31
1906 the com pany had 84,128 subscribers’ stations, being
an increase of 1,666 during the month of M ay.— V. 82, p.
1500.
M o n t g o m e r y W a r d & C o ., C h i c a g o .— Bonds Offered.— The
M erchants’ Loan A Trust C o., Chicago, is offering at par
and interest 8500,000 5 % serial debenture bonds of $1,000
each, dated July 1 1906, being part of an issue of $2,000,000,
due 8200.000 yearly on July 1 from 1907 to 1916, both in­
clusive. Interest payable Jan. 1 and July 1. First Trust
& Savings Bank, Chicago, trustee. The com pany is an
Illinois corporation and one of the oldest and best known
m ail-order houses in the United States. This bond issue is
made to provide for the construction o f a $1,500,000 build­
ing on a lot that has cost over $500,000.
A bstract o f Letter from T reasurer Chas. H . T horne June 25 1906:

Secretary Taft on July 19 granted permits as follows:
( 1) To take water— Niagara Falls Power C o., 8,600 cubic
feet per second; Niagara Power C o., 4,000 cubic feet per
second; Lockport Hydraulic Co., 500 cubic feet from the
Erie Canal and 333 cubic feet from the lower level of the
same canal at Lockport. (2) To receive electric current into
the United States from Canada— Niagara Falls Power Co.
to receive from its subsidiary, the Canadian Niagara Power
Co., not to exceed 25,000 horse power daily; Niagara Lockport & Ontario Power Co. to receive 25,000 horse power
daily from the Ontario Power Co. of Niagara Falls, Canada.
Niagara Lockport & Ontario Power Co.— See “ Niagara
Falls Preservation” above.— V. 82, p. 395.

Nicholson File Co.— Extrai Dividend.— The com pany paid
on June 30 a regular quarterly dividend of 2 % and an extra
dividend of /x 2 of 1% . The capital stock is now $5,000,000,
to which amount it was increased from $2,500,000 in Sep­
tember 1904 by allowing the stockholders to subscribe to
an amount equal to their holdings at par. At this same
Our corporation makes this issue to provide for improving a tract
of land recently purchased on the east bank of the river at Chicago time the com pany paid an extra cash dividend of 50% .
A y ., with buildings which will be suitable for permanent occupancy by
this company. The cost of the buildings will be over $1,500,000 and the
and acquired by the company cost in excess of $500,000; in all at least
$2,000,000. In addition, our company owns property situated at the
corner of Michigan A y . and Madison St., on which is the building at
present occupied by us, and which, although built for us a few years ago,
we have outgrown. On this property there are still three payments of
$40,000 each before the same will be free from debt. We also own prop­
erry at the other end of the block, being 91 feet on Michigan Av., en­
cumbered for $500,000. Our property therefore would show $7,000,000
in property as the basis for this issue of bonds, viz.:
New buildings on North Side to be completed with proceeds

of this loan..
______: ____________________________ $2,000,000
M ich ig a n A v . p ro p erty ov er a b o v e e n c u m b ra n c e _ _ _ _ _ _ _ _ _ _
1 ,7 5 0 ,0 0 0
O t h e r a sse ts, le ss c u rr e n t lia b ilitie s- _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 3 ,2 5 0 ,0 0 0
T h e tr u st a g r e e m e n t p r o v id e s : (1 ) D u r in g t h e life o f th e s e b o n d s
n o m o r tg a g e sh a ll b e p la c e d o n a n y o f th e p ro p e rty o f th e c o m n a n y ,
e x e c u tin g re n e w a ls of th e e x istin g m o r tg a g e s. (2) T h e n et ca sh a n d
q u ic k a sse ts, n o t ta k in g in to c o n sid e ra tio n th is b o n d issu e , sh a ll b e a t
le a s : $ 2 ,0 0 0 ,0 0 0 . (3 ) S a t is f a c t o r y e v id e n c e o f s u c h fisc a l c o n d itio n
sh a ll b e fu rn ish e d th e tru ste e a s re q u ire d . (4 ) T h e M ic h ig a n A v . p r o p ­
e r ty o f th e firm sh a ll b e r e le a se d fr o m th e tr u st a g r e e m e n t o n th e p a y ­
m e n t a n d ca n cella tio n o f 8 1 ,0 0 0 ,0 0 0 o f th ese b o n d s.
T h e a v e r a g e n e t a n n u a l e a rn in g s o f th e c o m p a n y for th e la st ten y e a rs
h a v e b e e n su ffic ien t to p a y n o t o n ly th e in te r e st a n d th e a n n u a l in sta l­
m e n t o f p rin cip a l o n th is issu e o f b o n d s , b u t th e u su a l d iv id e n d s o n th e
stock of the co m p a n y .
The capital stock in 1904 was $500,000.
National Oil & Pipe Line Co.. Beaumont, Tex.—Sold.—
At the sale in Beaumont, T ex ., on July 3, under foreclosure
o f the mortgage securing, it is sa id , $450,000 bonds, the prop­
er7:' was bid in b y George Lock of Lake Charles and Harris
Mas: *ivon of Houston for $55,000. A press report says that
tli • sale includes all the com pany’s property in Jefferson,
Hardin and Harris counties, T ex.. 10.000 barrels of oil, a
pip lin° from Spindle Top to Port Arthur, and lands at Port
Arthur. Humble and Batson, oil wells, fixtures, &c.. &c.—
Y . 78, p. 1390.

New London (Conn.) Marine Iron Works Co.— Bonds

O f­

fer < {.— H. C. Warren & C o., New Haven, Conn., are offer­
ing at 103 and interest $100,000 first mortgage 6% 30-year
gold bonds. A circular says:
Bonis dated April 2 1206: interest payable April 1 and Oct. 1: Windsor Trust Co'
of NV.v York, trustee. Annua! sinking fund. S3.300. beginning April 1 1911. on
and U r wjneh date fne bonds are subject to r-n.ll for sink, fund at. 110. Total authur:zed bond issue. $150,000; capital stock. 6% cumulative preferred. $100,000:
common stock. $250.00). President and Gen. Man.. Charles E. Hyde, formerly
of Bath '.Me.) iron Works: Vlce-Pres., Morton F. Plant: Treas.. P. Leroy Harwood.
Incorporated under laws of Connecticut to succeed to property and business of Mor­
gan Iron Works, founded by Elias F. Morgan 15 years ago and carried on success­
fully until his death, about 8 years ago. Since then the business has been parr of
an u(i- ‘ttled estate. Bet ween 40 and 50 men are employed and in addition to re­
pair im: all classes of -:
n and sailing vessels, brass and iron easts are manufactured
and machinery built and repaired. The plant is located on the west bank of the
Th
Pr.v-r n v. • v -y of .\>w London, Conn. Appraised value of real estate
abme v $150,000 the plan? complete is conservatively estimated at $234.2>5.
Earnings ;<>r calendar year 1905: Gross. $72,299: net. $20,069. The company has
acquired l 1* acres adjoining, having a waterfront of 500 feet and equipped with
two marine railways, one of which will accommodate vessels of between COO and 700
tons
A new wharf 250 feet in length and 50 feet in width will be built, and by
d-'-dving between th's wharf and the stone wharf already built the company will have
a rv-. iass yacht basin It is further proposed to expend about $25,000 oh a marine
rt.:
y apable : .. r. modatlng vessel 350 feet in length.

Niagara Fall3 Power Co.— Act

o f C on gress. — Set* “ Niagara

Falls Preservation” below.

Niagara Falls Preservation.—Act of C on gress. — The bill
signed by Pn -ident Roosevelt on June 19 provides in brief:
The diversion of water from Niagara River or Its tributaries. In the'Staie of New
York, :.s hereby prohibited, except with the consent of the Secretary of \\ :ir Pro­
vided, That this prohibition shall not forbid the diversion of said waters for san.tary
or domestic purposes or for navigation under direction of Congre.-s or the .secretary
of War.
Section 2. The Secretary of War fat his discretion) may grant permits for the di­
ve-non of said water for the creation of power to Individuals or companies which
are no w actually producing power from the waters of said river, or its tributaries, in
the state of Yew York, or from the Erie Lanai; also permits to Individual- or com­
panies as aforesaid (•>? the transmission of power from Canada into the I ruled state-;
ut only to the amount now actually in use or contracted to be used in factories
now in process of construction, not exceeding to any one individual or company
as aforesaid a maximum amount of 8,690 cubic feet per second and not excr-edinif
in ail an aggregate amount of 1 5 / 00 cubic feet per .second: Provided, That after tal l

A n n u a l D ivid en d R ecord from 1888 to 1905.

D ividend. \ 1888-92. ’93. 1894-98. ’99. ’00. ’01. ’02. ’03. 1904.
’05.
Per c e n t. _ / 6 yY ly
7 6 y ’rly
4
6
6
10 8 8& 50c. ex. 8
— V. 80, p . 225.

North American Lead Co., Columbus, O.— New Stock.—
The stockholders were permitted to subscribe at par ($100 a
share) until July 5 for the $250,000 treasury stock, or suf­
ficient thereof to provide for the construction of the proposed
reduction and refining works.
New President.— Vice-President Joseph F. Davidson was on
June 30 elected President to succeed the late Frank E. Stoneman. E. A. Cole has been made Vice-President.— V. 82,
p. 1160.
Northwestern Portland Cement Co., Mason City, la.— New
Plant— Stock Offered.— The H. P. W right Investment Co.
Kansas City, M o., is placing the preferred stock of this new
com pany, incorporated under the laws of W est Virginia, to
establish cement mills at Mason City , la . Authorized capi­
tal: 7% cumulative preferred stock, $1,750,000; common
stock, $1,750,000; par of shares, $100 each, full paid, non­
assessable. No bonds. A circular says in substance:
T h e p ro p e rty to h e u tilized co n sists o f a b o u t 5 0 0 a c re s o f P o r tla n d c e m e n t
ro ck a n d cla y sh a le d e p o sits situ a te d im m e d ia te ly a d ja ce n t to th e co rp o r­
a t e l i m i t s o f M a s o n C i t y , la .. T h e d e p o s i t s a r e a b s o l u t e l y d e t e r m i n e d
b o th in q u a lity a n d e x te n t. T h e lo ca tio n c a n n o t b e e x c e lle d . N o t o n e
b a r r e l o f P o r t la n d c e m e n t is p r o d u c e d in I o w a , M i n n e s o t a , W i s c o n s i n ,
N eb rask a, N o rth D a k o ta , W y o m in g an d M o n ta n a — the natu ral m ark ets
o f th is c o m p a n y . T h e c e m e n t w ill m e e t th e m o s t se v e re r e q u ir e m e n ts
o f th e ra ilro a d , m u n ic ip a l a n d G o v e r n m e n t e n g in e e rs.
T h e com p an y
h a s th e e x o e r t b u sin e ss m a n a g e m e n t o f m e n th o r o u g h ly fa m ilia r w ith
e v e r y d e ta il o f th e c e m e n t b u sin e ss (m o s t o f its d ire cto rs b e in g id en tified
w ith eith er th e P e n in su la r P o r tla n d C e m e n t C o . or th e W e s te r n P o rtla n d
C e m e n t C o . — E d . ) . T h e o f f i c e r s a r e : P r e s i d e n t , W . F. C o w h a m , J a c k so n , M ic h ., P re sid e n t o f P e in n su la r P o r tla n d C e m e n t C o . a n d W e s te r n
S ta te s P o r tla n d C e m e n t C o .; V ic e -P r e s ., E . J . B r e e n , F o r t D o d g e , la .;
S e c ., W . H . L . M c C o u r tie , M in n e a p o lis ; T r e a s ., N . S . P o tte r , J a c k s o n ,
M ich .
T h e o r e fe rr e d s to c k is e n title d to a fix e d d iv id e n d o f 7 ', p e r a n n u m
fro m J u ly 1 1 9 0 7 . o r s u b s e q u e n t d a te o f issu e, p a y a b le a n n u a lly a n d c u m u ­
la tiv e , a n d the. w h o le o r a n y p a r t th e r e o f is r e d e e m a b le a t p a r , w it h u n p a id
d iv id e n d s, at a n y d iv id e n d d a te o n or after J u ly 1 1 9 1 2 . T h e p referen ce
e x te n d s to a sse ts a s w e ll a s to e a r n in g s. H a s e q u a l v o tin g p o w e r w ith
th e c o m m o n sto c k , sh a re for sh a re . W ith ea c h sh a re o f p referred o n e h a lf sh a r e o f c o m m o n is g iv e n a s a b o n u s , th e r e m a in d e r o f th e c o m m o n
sto c k b e in g reserv ed for th e p ro m o te rs. T h e p ro ceed s ot th e p referred
s t o c k a r e e s t im a t e d to b e a m p le to c o n s t r u c t a n d e q u ip c e m e n t m ills w it.i
a d a ilv c a p a c ity o f 2 ,5 0 0 b a rre ls, a n d also to p ro v id e a w o r k in g c a p ita l.
T h e r ia n t is b e in g b u ilt a n d w ill b e o p e r a te d b y W . F . C o w h a m a n d h is
a sso c ia te s, a n d w ill b e th e s ix th p la n t o f th e C o w h a m s y s te m o f P o r tla n d
c e m e n t m ills, th e str o n g e st o r g a n iz a tio n fo r th e m a n u fa c tu r e o f h ig h g r a d e P o r tla n d c e m e n t in A m e r ic a .
T h e W e s t e r n S t a t e s P o r t l a n d C e m e n t C o . p l a n t a t I n d « p e n h y u a * . i - • 11 • ,
is t h e la t e s t o f t h e ir p la n t s t o b e p u t in o p e r a t i o n , a n d its e a r n in g s f o r t h e
first s ix m o n t h s o f o p e r a t i o n h a v e b e e n p h e n o m e n a l , a n d a t a n c e n t .
m e e t i n g t h e d i r e c t o r s v o t e d t o d e c l a r e a d i v i d e n d o f 1 4 L on t h e p r e f e r r e d
s lo c k o f S I .5 0 0 .0 0 0 , w ith a su b sta n tia l su rp lu s H it .
T h e p re fe r re d s to c k is fo r sa le a t its p a r (s 10 0 a s h a r e /a n d r m i* a
7 cs c u m u l a t i v e d i v i d e n d f r o m J u l y I 1 9 0 7 .
A n a d v a n c e d i' id /n d at th e
ra te o f 7 % p e r a n n u m
is a llo w e d f r o m t h e d a t e o f p a y m e n t o n -lo c k
u n til J u ly I 1 9 0 7 ,
l fro
the p a y m e n t. Ih e p u r­
c h a s e r r e c e iv e s a ls o a b o n u s o f 5 0 T in c o m m o n s to c k .
People’s Light, Heat & Power Co., Springfield, Ohio.
Proposition Withdrawn— New Offer l nsalisfoctory.
proposition recently made through the Ohio f in; no (
for an option on the common stock at 850 a -liarc. pay 1J'*
in collateral trust bonds, was withdrawn on July I S in 1/ .<»r
of a flat cash proposition for the entire* holdings <d tin
com pany. The directors decided that tin new ' A r
^
inadequate and for the time at least, it i- taOci tin- dr;.I
is off. See V. 83, p. 41.
__
Invest nent News Continued on Rage 162 and 163* 4

[Y

THE CHRONICLE.

160

ol.

L iiim .

IjXcpurts ami .Documents
SUNDAY CREEK COMPANY.

O F F IC IA L S T A T E M E N T T O T H E N E W Y O R K S T O C K E X C H A N G E M A D E IN C O N N E C T IO N W IT H
T H E
L IS T IN G O F T H E T H IR T Y -N IN E Y E A R jF IV E P E R C E N T C O L L A T E R A L T R U S T S IN K IN G F U N D B O N D S .
C olum bus, O hio, J u ly 2 1 9 0 6 .
A p p lic a tio n is h e r e b y m a d e fo r th e listin g o f $ 3 ,8 6 5 ,0 0 0
T h ir ty -n in e Y e a r F iv e P e r C e n t C o lla tera l T r u s t S in k in g
F u n d G o ld B o n d s of th e S u n d a y C reek C o m p a n y , b ein g
C oupon B onds
Nos.

1 to
9 ‘
14 ‘
382 ‘
467 ‘
509 '
561 ‘
612 •
738 *
862 ‘
1,006 ‘
1,067 ‘
1,129 ‘
1,163 ‘
1,171 ‘
1,309 ‘
i stn ■

7 inclusive.
12
380
465
507
559
610
736
860
1,004
1,065
1,126
1,161
1,169
1,307
1,548
1

Nos.
“
"
“
“
“
“
“
“
“
“
“
“
“
"
“

1,626
2,224
2,377
2,407
2,571
2,761
2,767
2,852
2,974
3,001
3,008
3,651
3,695
3,840
3,872
3,876

to
“
”
“
“
“
“
“
“
“
“
“
“
“
“
“

2,222 inclusive,
2,375
2,405
2,569
2,759
2,765
2,850
2,972
2,999
3,005
3,649
3,692
3,838
3,870
3,874
3,900

fo r $ 1 ,0 0 0 e a c h , issu ed p u r su a n t to th e p ro v isio n s of th e
C o lla te ra l T r u s t In d e n tu re o f said C o m p a n y h e re in a fte r
m e n t i o n e d . T h e t o ta l a u t h o r iz e d is s u e o f th e b o n d s is
$ 3 ,9 0 0 ,0 0 0 .
U n d e r d a te of J u ly 1 1 9 0 5 th e S u n d a y C reek C o m p a n y
e x e c u te d a C o lla te ra l T r u s t In d e n tu re to th e C e n tra l T r u s t
C o m p a n y of N e w Y o r k , T r u ste e , to secu re a n issu e of $ 3 ,9 0 0 ,0 0 0 T h ir ty -n in e Y e a r F iv e P e r C e n t C o lla te ra l T r u s t
S in k in g F u n d G o ld B o n d s of th e S u n d a y C reek C o m p a n y ,
d a te d J u ly 1 1 9 0 5 , a n d m a tu rin g J u ly 1 1 944. T h e b o n d s
b e a r in terest fro m J u ly 1 1 9 0 5 , p a y a b le se m i-a n n u a lly ,
i. e ., t h e f i r s t c o u p o n p a y a b l e J a n u a r y 1 1 9 0 6 .
B o th p rin ­
cip al a n d in te re st are p a y a b le in g o ld co in of th e U n ite d
S t a t e s o f A m e r ic a a t t h e o ffic e o r a g e n c y o f th e S u n d a y
C re e k C o m p a n y in th e C ity o f N e w Y o r k , a n d w ith o u t d e ­
d u ctio n for a n y ta x es or assessm en ts w h ich th e C o m p a n y
m a y b e req u ired to p a y or retain th e re fro m . S aid b o n d s
a re in c o u p o n fo r m a n d m a y b e re g iste re d a s to p rin c ip a l
o n ly , a n d m a y b e s o r e g is te r e d a t th e o ffic e o f th e C e n t r a l
T r u st C o m p a n y , N e w Y o r k C ity.
T h e C o lla te ra l T r u s t In d e n tu re p ro v id e s th a t th e S u n d a y
C re e k C o m p a n y sh a ll p a y to th e T r u ste e o n o r b e fo re th e
first d a y o f J u n e in e a c h y e a r th e s u m o f $ 3 5 ,0 0 0 a s a S in k in g
F u n d , to g e th e r w ith a n a d d itio n a l s u m w h ic h sh a ll b e e q u a l
to th e a n n u a l in te r e st u p o n all th e b o n d s p r e v io u s ly d r a w n
or a c q u ired b y th e T ru ste e a n d p a id b y th e a p p lica tio n of
sa id S in k in g F u n d . T h e T r u s te e , p rio r to th e fifth d a y of
J u n e e a c h y e a r , is r e q u ir e d to d r a w b y lo t f r o m t h e b o n d s
th e n o u ts ta n d in g a n u m b e r su ffic ien t to a b s o r b th e m o n e y
th e n in th e S in k in g F u n d a t th e p rice of p a r for e a c h b o n d
a n d a c cru e d in terest. U n d e r th is p ro v isio n , $ 3 5 ,0 0 0 o f th e
b o n d s w ere d ra w n for re d e m p tio n J u ly 1 190 6 .
In ca se o f d e fa u lt in p a y m e n t o f th e in te re st o n a n y o f th e
b o n d s o r th e p rin c ip a l th e r e o f, o r in ca se d e fa u lt sh a ll b e
m a d e in th e S in k in g F u n d p a y m e n t s , a n d if s u c h d e fa u lt
sh a ll c o n tin u e fo r a p e rio d o f th re e m o n th s , th e T r u ste e of
t h e C o lla te r a l T r u s t I n d e n t u r e is a u t h o r iz e d , if r e q u ir e d b y
th e h o ld e rs o f a m a jo r ity in a m o u n t o f th e b o n d s o u ts ta n d ­
in g a n d u n p a id , im m e d ia te ly to c a n c e l th e lea ses p le d g e d
a n d d e liv e r t h e m to th e r e sp e c tiv e le sso rs, w h o sh a ll th e r e ­
u p o n b e c o m e re -p o sse sse d o f th e le a se d p re m ise s.
ORGANIZATION, &c.

T h e S u n d a y C r e e k C o m p a n y w 'a s i n c o r p o r a t e d u n d e r t h e
la w s of th e S ta te of N e w J ersey o n J u n e 30 1 9 0 5 , a n d b e g a n
b u sin ess o n J u ly 1 1 9 0 5 , a t th a t tim e ta k in g o v e r th e assets
an d p rop erty of the K a n a w h a & H ock in g C oal & C oke C o m ­
p a n y a n d th e C o n tin en tal C oal C o m p a n y u n d er In d en tu res
of L e a se , d a te d J u ly 1 1 9 0 5 , e x te n d in g for 3 9 y ea rs, a n d
e n d in g J u n e 3 0 1 9 4 4 , u n d e r th e te r m s o f w h ic h le a se s th e
S u n d a y C reek C o m p a n y a ssu m e d a n d ag reed to p a y , d u rin g
th e te r m o f th e lea ses, th e in te re st, S in k in g F u n d a n d o th e r
c h a rg e s in c o n n e c tio n w ith th e b o n d s issu e d u n d e r th e F irst
M o rtg a g e s of th e tw o C o m p a n ie s a b o v e n a m e d . O n J u ly 1
1 9 0 5 th e S u n d a y C re e k C o m p a n y le a se d th e p ro p e rty of
th e B u ck e y e C oal & R a ilw a y C o m p a n y a n d th e O h io L a n d
& R a ilw a y C o m p a n y for a p erio d of 2 5 y ea rs, u n d e r th e
te r m s o f w h ic h le a se s th e S u n d a y C r e e k C o m p a n y a g r e e d to
p a y th e se tw o C o m p a n ie s a fix e d a n n u a l re n ta l a g g r e g a tin g
$ 1 0 0 ,0 0 0 for th e p ro p e rtie s le a se d , a n d also a g re e d to p a y
to th e m a fix e d ra te o f r o y a lty fo r all lu m p co a l m in e d fr o m
th e le a se d p re m ise s o f th e tw o C o m p a n ie s. T h e C o m p a n y
h a s a l s o a c q u i r e d b 3^ b i l l o f s a l e a n d w a r r a n t y d e e d s f r o m
th e S u n d a y C r e e k C o a l C o m p a n y all o f th e a sse ts a n d p r o p ­
e r ty of e v e r y k in d a n d d e scrip tio n b e lo n g in g to sa id S u n d a y
C reek C o a l C o m p a n y , in clu d in g m in e s, p la n ts, m a c h in e r y ,
e q u ip m e n t, stores a n d real a n d p erso n a l p ro p e rty , a n d as a
p a rt co n sid era tion for th e p rem ises d e m ise d h a s a ssu m e d

a
o
a
a
p

n d a g reed to p a y th e F irst M o rtg a g e S in k in g F u n d B o n d s
f said C o m p a n y d u e D e c e m b e r 1 1 9 1 2 .
T h e C om p an y has
lso a s s u m e d a n d a g r e e d to p a y th e b ills a n d a c c o u n ts p a y ­
b le a n d all o th e r c u rr e n t lia b ilitie s o f th e c o n s titu e n t c o m ­
a n ie s n a m e d in th is a p p lica tio n .
T h e C o m p a n y is e n g a g e d in m in in g b it u m in o u s c o a l,
m a n u fa ctu rin g co k e a n d co n d u cts a gen eral m erch an d ise
b u sin e ss a t c e n tra l p o in ts in its m in in g d istricts.
K a n a w h a & H o c k in g C o al & C o k e C o m p a n y w a s in co r­
p o r a te d u n d e r th e la w s o f th e S ta te o f W e s t V irg in ia o n M a y 4
1 9 0 1 . A u th o riz e d C a p ita l S to c k , $ 3 ,5 0 0 ,0 0 0 ; issu ed , $ 3 ,2 5 0 ,0 0 0 ; F irst M o rtg a g e F ifty -Y e a r F iv e P e r C e n t S in k in g
F u n d C o u p o n G o ld B o n d s of 1 9 5 1 ; a u th o riz e d , $ 3 ,5 0 0 ,0 0 0 ;
issu ed , $ 3 ,0 0 0 ,0 0 0 ; o u tsta n d in g , $ 2 ,9 0 9 ,0 0 0 .
C o n tin en tal C o al C o m p a n y w a s in co rp o rated u n d er th e
la w s o f th e S ta te o f W e s t V irg in ia J a n u a r y 2 7 1 9 0 2 . A u th o r ­
ized C a p ita l S to c k , $ 3 ,5 0 0 ,0 0 0 ; issu e d , $ 3 ,2 5 0 ,0 0 0 ; F irst
M o rtg a g e F ifty -Y e a r F iv e P e r C e n t S in k in g F u n d C o u p o n
G o ld B o n d s of 1 9 5 2 ; a u th o riz e d , $ 3 ,5 0 0 ,0 0 0 ; issu e d , $ 2 ,7 5 0 ,0 0 0 ; o u tsta n d in g , $ 2 ,3 9 9 ,0 0 0 .
T h e B u c k e y e C oal & R a ilw a y C o m p a n y w a s in co rp o rated
u n d e r th e la w s of th e S ta te o f O h io F e b r u a r y 15 1 8 9 9 .
A u th o riz e d C a p ita l S to c k , issu e d a n d o u tsta n d in g , S 2 5 0 ,0 0 0 .
N o b o n d in d eb ted n ess.
T h e O h io L a n d & R a ilw a y C o m p a n y w a s in co rp o rated
u n d e r th e la w s of th e S ta te of O h io S e p te m b e r 18 1 8 9 3 .
A u th o riz e d C a p ita l S to c k , $ 2 ,0 0 0 ,0 0 0 ; issu ed a n d o u tsta n d ­
in g , $ 2 0 0 ,6 0 0 . P u rch a se M o n e y M o rtg a g e S ix P e r C e n t
B o n d s; a u th o riz e d , $ 1 ,5 0 0 ,0 0 0 , n o n e o f w h ic h are o u ts ta n d ­
in g in th e h a n d s o f th e p u b lic .
T h e S u n d a y C reek C oal C o m p a n y w a s in co rp o rated u n d er
th e la w s of th e S ta te o f O h io S e p te m b e r 2 1 8 7 9 . C a p ita l
S to c k a u th o riz e d a n d issu e d (as r e d u c e d A p ril 2 5 1 9 0 6 ),
$ 1 0 ,0 0 0 . T w e n t y -Y e a r F irst M o r tg a g e S ix P e r C e n t S in k in g
F u n d G o ld B o n d s of 1 9 1 2 ; a u th o riz e d a n d issu ed , $ 4 0 0 ,0 0 0 ;
o u tsta n d in g , $ 3 1 8 ,0 0 0 .
STATEMENT SHOWING ANNUAL PAYMENTS REQUIRED TO
BE MADE FOR CONSTITUENT COMPANIES.
In t. on B o n d s S in k in g F u n d .

R en ta l.

Kanawha & Hocking Coal
<fe Coke Co___________ 8150,000 2J4c. gross ton
§2,500
Continental Coal Co____ 137,500 5c. lump ton
6,000
The Buckeye Coal & R y . j
Royalty at fixed rate
Co. and the Ohio Land \ ______ 2c. lump ton \ on lump coal and
& Ry Co____________ J
l S100.000 addit’n’l
The Sunday Creek Coal
Com pany___________ 19,080 2c. lump ton
------T otal_______________ $306,580
COLLATERAL SECURING BONDS.

U n d e r th e te r m s o f th e F iv e P e r C e n t C o lla te r a l'T r u s t
S in k in g F u n d In d e n tu re of th e S u n d a y C reek C o m p a n y , said
C o m p a n y c o n v e y s to th e T r u s te e o f its In d e n tu r e th e T r u s t
C ertifica tes r e p re se n tin g b e n e ficia l in te re sts in sh a re s of th e
C a p ital S to ck of th e K a n a w h a & H o c k in g C oal & C o k e
C o m p a n y a n d th e C o n tin en tal C oal C o m p a n y , h a v in g ac­
q u ire d a n d p a id fo r th e s a m e , in its C o lla te ra l T r u s t B o n d s ,
S ix ty P e r C e n t of th e p a r v a lu e th ereo f. In o rd er to o b ta in
sa tisfa c to ry resu lts in o p e r a tio n a n d fo r th e p u r p o s e o f th e
g u a ra n ty of th e p a y m e n t of th e p rin cip a l a n d in terest of
th e b on d s of th e K a n a w h a & H o ck in g C oal & C oke C o m ­
p a n y a n d th e C o n tin e n ta l C o al C o m p a n y , th e sto c k s of said
C o m p a n ie s w e re p la c e d in tru st b y th e h o ld e rs th e re o f w ith
J. P . M o r g a n & C o ., a s T r u s te e , a n d C ertifica tes of B e n e ficia l
In terest w e re issu ed th erefo r b y said T ru ste e . O f said
$ 3 ,9 0 0 ,0 0 0 F iv e P e r C e n t C o lla te ra l T r u s t S in k in g F u n d
B o n d s , th ere h a v e b e e n issu ed $ 3 ,8 8 8 ,0 0 0 in e x c h a n g e fo r
T r u s t C ertifica tes re p re se n tin g th e b e n e ficia l in te re sts in
3 2 ,5 0 0 sh a res of th e C a p ita l S to c k o f th e C o n tin e n ta l C o a l
C o m p a n y , a n d T r u s t C ertifica tes re p re se n tin g th e b en eficia l
in te re sts in 3 2 ,3 0 0 sh a re s o f th e C a p ita l S to c k o f th e K a n a w h a
& H o c k in g C o a l & C o k e C o m p a n y .
T h e re m a in d e r of th e
a u th o r iz e d issu e o f C o lla te ra l T r u s t B o n d s , v iz ., $ 1 2 ,0 0 0 , a re
re se rv e d fo r th e p u r p o s e o f a c q u ir in g T r u s t C ertifica tes o f
b en eficial in terests re p re se n tin g th e 2 0 0 a d d itio n a l sh a res
of th e C a p ital S to ck of th e K a n a w h a &H o c k in g C oal &C o k e
C om p an y.
I n a c c o r d a n c e w i t h t h e C o l l a t e r a l T r u s t I n d e n t u r e , the
S u n d a y C reek C o m p a n y h a s a ssig n e d a n d d e liv e re d to th e
T r u ste e th e lea ses fr o m th e C o n tin e n ta l C o a l C o m p a n y a n d
t h e K a n a w h a & H o c k i n g C o a l & C o k e C o m p a n y , a n d the
T r u s t C ertifica tes a b o v e d e sc rib e d .
DESCRIPTION OF PROPERTIES.

T h e fo llo w in g is a d e s c r ip tio n o f t h e
p ro p erties o p era ted b y th e C o m p a n y
p ro p e rty le a se d to th e c o n stitu e n t C o m
w h ich are assig n ed to S u n d a y C reek C o

co al la n d s a n d oth er
u n d e r le a se (in clu d e s
p a n ie s , th e lea ses fo r
m p an y):

Ju ly

21 HH)6.]

THE CHRONICLE.
Location.
State.

Counties.

K a n a w h a & H o c k . C .iftC .C o . K a n a w h a &
C o n tin e n ta l C o a l C o ......... A t h e n s , H o c k .
do
B u ck ey e C oal & R y . C o ..
do
(*)h io L a n d & R y . C o - - - - . .
A th en s
T h e S und ay Creek Coal C o ..

. i r r ’s e .

Estimated
Unmim'd
Tons.

F a y e tte W . V a . 3 2 ,0 0 0 3 2 1 ,8 0 0 ,0 0 0
< fc P e r r y O h i o
2 7 ,5 0 0 1 5 7 ,6 4 2 ,0 0 0
do
O h io
1 4 ,0 5 0 3 0 ,4 2 1 ,0 0 0
O h io
O h io

do

1 0 ,3 0 0
250

7 0 ,1 2 3 .0 0 0
2 8 4 ,0 0 0

S 4 .1 0 0 5 S 0 .2 7 0 .0 0 0

T ota l u n d er le a se _ _ _ _ _ _

Annual
Capacity.
7'ons.

M ining
Plants.

11
23
4
I
1

1GI
Annual
Coke Capacity, M iners’
Ovens. Tons.
Houses.

2 ,0 7 0 ,0 0 0
6 ,0 5 1 ,0 0 0
1 ,2 8 3 ,0 0 0
T h is p ro p erty
is u n d e v e l o p 'd
5 0 ,0 0 0

381
\
) -

2 1 0 ,0 0 0

-

39

9 ,4 5 4 ,0 0 0

3S1

5

1 ,1 4 5 ,0 0 0

--

River
Tip­
ples.

Com­
pany
Stores.

3

8
12
4

901
350
220

—

100

2 1 0 ,0 0 0

1

1 ,5 7 1

3

25

--

4

The following is a description of the property owned:
O h io

A th ens & Perry

T h e S u n d a y C reek C oal C o ..

1 6 ,3 0 0

6 6 ,6 0 1 ,0 0 0

—

—

C o n n o rs P o in t D o c k . W e s t S u p e rio r, W is .— A n n u a l c a p a c ity , 3 0 0 ,0 0 0 to n s.
Under the terms of the leases the Sunday Creek Company
will keep the leased propert}*- insured against loss by fire,
and will maintain it in good repair and condition for mining
operations.
The authorized Capital Stock of the Sunday Creek Com­
pany consists of 40,000 shares, par value of $100 each, of

which 37,500 shares have been issued as a part consideration
for the property purchased from the Sunday Creek Coal
Company; of the remainder, 12 shares are reserved for the
purpose of maintaining the corporate existence of the Com­
pany, and 2,488 shares are held in the Treasury of the
Company.

S T A T E M E N T O F IN C O M E O F C O N S T IT U E N T C O M P A N IE S O F S U N D A Y
Sunday Creek
Coal Co.

B u ckeye Coal
& R y . Co.

C R E E K

C O M P A N Y — Y E A R
a Continental

Ohio Land
<fe R y. Co.

Coal Co.

_ _ _ _ _ _ _ _ _ $ 9 0 4 ,8 2 9 3 5
T o t a l r e v e n u e . __ _ _ _ _ _ _ _ _ _ _
E x p e n s e s a n d ta x e s _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 7 4 0 ,4 0 7 7 2

$ 1 ,4 6 0 ,8 2 2 93
1 ,1 1 4 ,2 7 9 4 9

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

$ 3 ,0 5 7 ,6 3 7 5 6
2 ,4 6 0 ,8 2 9 3 7

.._ _ _ _ _ _ _ _ _ $ 1 6 4 ,4 2 1 63
_________
700 00

$ 3 4 6 ,5 4 3 4 4

$ 1 7 ,2 8 2 4 6

T o ta l av a ila b le in c o m e
_
_ ____
_ S 1 6 5 .1 2 1 6 3
In terest, sin k in g fu n d a n d oth er d e d u ctio n s_ _ _
6 4 ,2 5 3 0 0

$ 3 4 6 ,5 4 3 4 4
3 9 ,1 7 0 2 0
$ 3 0 7 ,3 7 3 24

N et e a rn in g s_ _ _ _ _ _ _
O t h e r i n c o m e . . . __ _ _

___

N et in co m e_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
a In clu d e s C o n g o C o a l C o m p a n y , th ree m o n th s e n d e
C o a l C o m p a n y , b D eficit.
F IF T E E N M O
T otal re v e n u e _ _
________
_ _ _ _ _ _ _ _ _ $ 9 4 2 ,6 8 3
E xp en ses an d taxes
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 8 2 5 ,3 2 0

E N D E D

M A R C H

31

K anaw ha& H ock ’g
Coal c f c Coke Co.

1904.
Totals.

$ 1 ,2 0 3 ,0 0 6 77
9 7 6 ,6 4 0 61

$ 6 ,6 4 9 ,4 9 4 61
5 ,2 9 8 ,0 7 2 73

$ 5 9 6 ,8 0 8 19

$ 2 2 6 ,3 6 6 16

$ 1 ,3 5 1 ,4 2 1 8 8
700 00

$ 1 7 ,2 8 2 4 6
8 8 ,5 0 0 0 0

$ 5 9 6 ,8 0 8 19
2 4 6 ,6 7 3 4 3

$ 2 2 6 ,3 6 6 16
1 6 3 ,0 8 1 6 6

$ 1 ,3 5 2 ,1 2 1 8 8
6 0 1 ,6 7 8 2 9

$ 7 1 ,2 1 7 5 4 b

$ 3 5 0 ,1 3 4 7 6

$ 6 3 ,2 8 4 5 0

$ 7 5 0 ,4 4 3 5 9

d J u n e 3 0 1 9 0 4 , a f t e r w h i c h d a t e s a i d C o m p a n y ’s a c c o u n t s a r e i n c l u d e d i n
N T H S E N D E D J U N E 30 1905.
C $ 2 2 ,0 9 7 2 4
$ 1 ,0 8 1 ,4 5 9 0 5
22
25
8 7 0 ,0 8 5 21
9 ,6 2 9 2 9

C o n tin en tal

$ 2 ,6 4 9 ,8 8 5 17
2 ,3 7 9 ,0 5 6 6 5

$ 1 ,1 3 5 ,1 4 4 79
1 ,0 3 9 ,9 4 7 41

$ 5 ,8 3 1 ,2 6 9 4 7
5 ,1 2 4 ,0 3 8 81

_ _ _ _ _ _ _ _ $ 1 1 7 ,3 6 2 9 7
1 9 ,0 9 7 91

$ 2 1 1 ,3 7 3 8 4

$ 1 2 ,4 6 7 9 5

$ 2 7 0 ,8 2 8 52

$ 9 5 ,1 9 7 3 8

$ 7 0 7 ,2 3 0 6 6
1 9 ,0 9 7 9 1

T o ta l a v a ila b le in c o m e _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ $ 1 3 6 ,4 6 0 8 8
In terest, sin k in g fu n d a n d oth er d e d u c tio n s_ _ _
3 2 ,7 4 6 6 0

$ 2 1 1 ,3 7 3 8 4
2 3 ,4 8 2 18

$ 1 2 ,4 6 7 9 5
8 9 ,4 9 1 0 2

$ 2 7 0 ,8 2 8 52
2 7 4 ,3 0 1 4 3

$ 9 5 ,1 9 7 38
2 1 6 ,5 8 4 4 9

$ 7 2 6 ,3 2 8 57
6 3 6 ,6 0 5 7 2

.._ _ _ _ _ _ _ _ _ $ 1 0 3 ,7 1 4 2 8

$ 1 8 7 ,8 9 1 6 6

$ 7 7 ,0 2 3 0 7 d

$ 1 2 1 ,3 8 7 li d

$ 8 9 ,7 2 2 8 5

N e t e a rn in g s . . . _ _ _ _ _ _ _ _ _
O th er in co m e_ _ _ _ _ _ _ _ _ ..

N et in co m e

____________

$ 3 ,4 7 2 91 d

c T w e l v e m o n t h s e n d e d M a r c h 3 1 1 9 0 4 , a ft e r w h i c h d a t e t h e a c c o u n t s o f t h e O h i o L a n d & R a i l w a y C o m p a n y a r e in c lu d e d in t h e B u c k e y e C o a l
& R a ilw a y C o m p a n y .
d D e fic it.

C O N T IN E N T A L

C O A L

C O M P A N Y — G E N E R A L B A L A N C E S H E E T , M A R C H 31 1905.

Assets.

M in in g p ro p e rty a n d rig h ts_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ $ 6 ,2 7 6 ,4 0 8 8 6
O t h e r r e a l e s t a t e _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _
1 5 9 ,5 7 9 2 0
S ecu rities o w n e d , p a r v a lu e _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
2 5 ,0 0 0 0 0
Treasurv stock _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
2 4 9 ,5 0 0 0 0
B o n d s in S in k in g F u n d _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
2 6 1 ,0 0 0 0 0
S in k in g F u n d in h a n d s o f T r u s te e _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
538 44
U n in v e ste d S in k in g F u n d _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
1 7 ,0 6 2 55
C a sh ____________________________________________
1 6 ,4 6 2 71
F in a n cial ag en ts, c o u p o n a c c o u n ts_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
925 00
A c co u n ts receiv a b le_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
1 0 3 ,3 9 2 41
B ills r e c e iv a b le _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ L _ . _ _ _ _ _ __ _ _ _ _ _
3 4 4 ,7 3 7 17
M erch an d ise at m in e sto re s_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
5 4 ,4 4 2 4 4
U n exp ired in su ra n ce_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
5 ,2 3 0 4 0
R o y a lty a d v a n c e d _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
1 1 3 ,4 2 9 3 5
T o ta l assets
K A N A W H A

&

H O C K IN G

C O A L

$ 7 ,6 2 7 ,7 0 8 53
T o t a l lia b ilitie s
C O K E C O M P A N Y — G E N E R A L B A L A N C E

&

Assets.

M in in g p ro p erty an d righ ts_ _ _ _ _ _ _ _ _ _
T reasury stock _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
S ecu rities o w n e d _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
B o n d s in S in k in g F u n d _ _ _ _ _ _ _ _ _ _ _
U n in v e ste d S in k in g F u n d _ _ _ _ _ _ _ _ _ _
C a sh _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
F in a n cial a g en ts, c o u p o n a c c o u n t_ _ _ _
A c c o u n ts re ce iv a b le _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
B ills r e c e iv a b le _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
Coal and coke on h a n d _____________
M erch an d ise at m in e sto res_ _ _ _ _ _ _ _ _
U n e x p ire d in su ra n ce_ _ _ _ _ _ _ _ _ _ _ _ _ _
L um ber on h a n d __________________
R o y a lty a d v a n c e d _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

M in in g p ro p e rty a n d righ ts
U n in v e ste d S in k in g F u n d .
C a sh _______ ____ _____
A c co u n ts re ce iv a b le _ _ _ _ _
B ills r e c e iv a b le .............. .
M erch an d ise at m in e stores
U n exp ired in su ra n ce_ _ _ _

B U C K E Y E

C O A L

&

S 6 ,9 3 4 ,7 1 2 5 2
T o ta l lia b ilities
R A IL W A Y C O M P A N Y — G E N E R A L

Assets.

$ 1 ,8 7 9
30
277
450
25

S U N D A Y

C R E E K

,3 3 9
872
,3 8 5
,6 7 1
,0 0 0
,3 9 1
430

34
50
95
68
00
62
09

Assets.

31

1905.
$ 3 ,5 0 0
3 ,0 0 0
92
172

Other real estate_____________________________ ________________

Uninvested Sinking Fund_____ _______ _______ _________
Securities owned____ __________ ___________
. .
Coal on hand.__________________________________ ______
Unexpired insurance, credit.......... ........... ........... ................
Merchandise at mine stores.......... ........... ............................
Cash and current assets............................................ .
..
Cokeonhand.............................

B A L A N C E

S H E E T , M A R C H

S H E E T , M A R C H
L iabilities.

C o m m o n S t o c k ................... ..... .............
P referred S to c k _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
5,01 0 00
Funded d eb t_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
1,196 90 S t . P a u l & W e s t e r n C o a l C o . . . . . . . . . . . . . . . . . .
1,702 00 A c c r u e d i n t e r e s t o n b o n d s _ _ _ _ _ _ _ _ _ _ _
508.96126 A c c r u e d t a x e s , d e b i t . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
236 53 C u r r e n t l i a b i l i t i e s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
40,612 95 R e s e r v e f u n d s . . . . . . . . . . . , . . . . . . . . . . . . . . . . . . . . . . . . . .
1,797,597 56 P r o f i t a n t i l o s s - - s u r p l u s
_______

,0
,0
,1
,5

0
0
5
0

0
0
4
0

0
0
1
0

25
02
00
50
56
00
06

$ 6 ,9 3 4 ,7 1 2 5 2
31 1905.
$ 2 5 0 ,0 0 0
1 2 ,7 7 7
1 ,4 7 9 ,7 1 8
2 ,5 5 9
4 5 0 ,0 0 0
1 ,6 9 7
4 8 ,2 3 1
2 ,7 5 5
2 8 ,5 7 3
872
3 9 2 ,4 1 5
.S 2 ,6 6 4 ,0 9 1

00
11
24
80
00
89
63
75
83
50
83
08

$ 2 ,2 5 0 ,0 0 0
1 ,5 0 0 ,0 0 0
3 3 3 ,0 0 0
8 ,6 4 4
6 ,6 6 0
2 ,7 7 9
1 ,9 3 0 ,0 2 1
1 5 5 ,7 0 6
5 0 0 ,8 2 5

00
00
00
35
00
27
16
36
62

31 1905.

14,819 16

$ 6 ,6 8 2 ,0 7 8 2 2

T o ta l lia b ilities

0
0
3
0

125 00

2 ,8 7 9
6 6 ,9 3 8
3 7 ,5 0 0
40
5 ,1 5 2
3 0 ,0 0 0
2 7 ,5 0 4

Liabilities.

Cost of mining property.... ......... ..... ...................... .............$4,198,073 21
Connors Point dock property__ __________ _____________
114,341 71

T o ta l assets

M A R C H

C a p ital S to c k _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
H o c k in g C o al &R R . C o . liq u id a tio n a c c o u n t_ _ _ _ _ _ _ _ _ _ _
D u e H . V . R y . for O h io L a n d & R y . p ro p e rty _ _ _ - -----D ep reciation m in e rs’ h o u se s_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
B ills r e c e iv a b le d is c o u n t e d _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
U n cla im ed la b o r_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
A ccou n ts p a y a b le _ _ _ _ _ _
A ccru ed taxes, d e b it_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
R eserve fu n d s_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
D u e S in k in g F u n d T r u s t e e ........... . ............. . .................P ro fit a n d lo ss, s u r p lu s _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

$ 2 ,6 6 4 ,0 9 1 0 8
T o t a l lia b ilitie s
C O A L C O M P A N Y — G E N E R A L B A L A N C E

90
00
99
55
00
00
00
38
91
67
34
43
26

$ 7 ,6 2 7 ,7 0 8 53
S H E E T ,

C a p ital S to c k (sh ares, $ 1 0 0 )_ _ _ _ _ _ _ _ _ _
F unded d ebt_______________________
1 00 L a n d a n d p l a n t d e p r e c i a t i o n _ _ _ _ _ _ _ _ _ _
6 1 ,0 0 0 0 0 B ills r e c e iv a b le d is c o u n te d _ _ _ _ _ _ _ _ _ _ _
5 ,2 4 8 9 8 U n p a id c o u p o n s _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
1 2 ,9 .5 4 5 3 U n p a i d la b o r _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
125 00 A cco u n ts p a y a b le _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
1 0 6 ,8 4 9 3 8 A c c r u e d in terest o n fu n d e d d e b t _ _ _ _ _ _ _
1 7 2 .5 0 0 0 0 A c c r u e d ta x e s, d e b it_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
729 00 R eserve fu n d s_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
5 2 ,8 6 4 0 5
Bills payable_________________________
2 ,7 0 4 5 6 P ro fit a n d lo ss— S u r p lu s .........................
7 ,6 6 6 0 2
3 4 ,3 5 3 6 6

T ota l assets
T H E

$ 3 ,5 0 0 ,0 0 0
2 ,7 5 0 ,0 0 0
2 7 8 ,6 0 0
1 4 ,8 8 7
2 7 5 ,0 0 0
175
750
1 ,6 2 5
1 3 1 ,9 7 8
2 2 ,9 1 6
7 ,9 0 4
1 1 ,5 1 2
6 3 2 ,3 5 7

Liabilities.

$ 6 ,2 2 8 ,2 1 6 3 4
2 4 9 .5 0 0 00

T o ta l assets
T H E

L iabilities.

C a p ital S to ck (sh ares $ 1 0 0 )_ _ _ _ _ _ _ _ _ _ _ _
F unded d eb t_________________ _____
S in k in g F u n d R e se rv e _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
A c c r u e d S in k in g F u n d _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
B ills re c e iv a b le , d is c o u n te d _ _ _ _ _ _ _ _ _ _ _
U n p a id co u p on s_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
D iv id e n d s u n c la im e d _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
U n cla im e d la b o r_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
A ccou n ts p a y a b le _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
A c c r u e d in terest o n fu n d e d d e b t _ _ _ _ _ _ _ _
A ccrued taxes_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
R eserve fu n d s_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
P ro fit a n d lo ss— s u r p lu s _ _ _ _ _ _ _ _ _ _ _ _ _ _

$ 6 ,6 8 2 ,0 7 8 2 2

THE CHRONICLE.

162

[V O L . L X X X IIL

S T A T E M E N T O F IN C O M E O F S U N D A Y C R E E K C O M P A N Y , N IN E M O N T H S E N D E D M A R C H 31 1906.
T otal reven u e_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ _ _ _ _ _ _ _
. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ $ 4 ,6 6 4 ,7 9 0 0 6
E x p e n se s a n d ta x e s _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 3 ,8 3 0 ,6 8 6 4 5
N e t e a r n in g s .-_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ . ---- ----------------------------------------O th er in co m e_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
_______

...

--------------------------------------. ...
____ . ____

T o ta l a v a ila b e in c o m e _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
I n t e r e s t , s i n k i n g f u n d a n d o t h e r d e d u c t i o n s __ _ _ _ _ _ _ _ _
____ ____________________ ______ _____________________________
N et in c o m e .. .

________________
G E N E R A L

_______________________ ____ ______
B A L A N C E

S H E E T

O F

S U N D A Y

C O M P A N Y , M A R C H

31

$ 8 4 8 ,9 5 5 0 7 ’
6 9 2 ,4 9 8 2 7
$ 1 5 6 ,4 5 6 8 0

1906.

L iabilities.

A ssets.

C o a l la n d s, m in in g p la n ts a n d e q u ip m e n t a n d m isc e lla n e o u s
p r o p e r t y a s s e ts ... _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
.$ 7 ,4 5 0 ,0 2 4
V a lu e o f m in in g p la n ts a n d e q u ip m e n t o p e ra te d u n d e r
le a se s w ith c o n s titu e n t C o m p a n ie s , p e r c o n t r a ..
._ 1 ,5 5 3 ,7 5 5
M a teria l a n d su p p lie s--------------------------- . $ 7 9 ,9 7 6 3 9
Coal and coke on hand.
2 1 9 ,7 1 9 3 6
1 6 4 ,4 0 9 0 3
M erch a n d ise at m in e stores.
4 6 4 ,1 0 4
. $ 1 0 3 ,8 7 4 8 6
C a sh ____________
A c c o u n ts re ce iv a b le .
. .1 , 5 9 7 , 4 2 8 8 2
. 7 4 8 ,4 8 6 9 2
B ills r e c e iv a b le ......
_ 3 2 2 ,4 7 8 33
O th er cu rren t assets.
2 ,7 7 2 ,2 6 8

C R E E K

__________________________

$ 8 3 4 ,1 0 9 61
1 4 ,8 4 5 4 6

50
04
78

93

C a p ital S to c k _ _ _ _ _ _ _ _
C o lla tera l T r u st 5 % B o n d s _ _ _ _ _ _ _

$ 3 ,7 2 6 ,4 0 0 0 0
3 ,8 8 8 ,0 0 0 0 0
----------------- $ 7 ,6 1 4 ,4 0 0
D u e L esso r C o m p a n ie s for p la n ts a n d e q u ip m e n t o p e ra te d
u n d e r le a se s, p e r c o n t r a _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
1 ,5 5 3 ,7 5 5
M a tu r e d in terest c o u p o n s _ _ _ _ _ _ _
$775 00
A c co u n ts p a y a b le
(in clu d in g u n p a id
w a g e s ) __ _ _ _ _
5 9 8 ,6 9 1 5 3
B ills p a y a b le _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
1 ,2 3 0 ,0 0 0 0 0
B ills re c e iv a b le d is c o u n te d _ _ _ _ _ _ _ _ _
6 5 5 ,0 0 0 0 0
S tore scrip _ _ _ _ _ _ _ _ _ _ _ _ _ _
3 ,6 1 8 7 0
2 ,4 8 8 ,0 8 5
A c c ru e d in terest o n b o n d s _ _ _ _ _ _ _ _ _ _ _ _ _ _ $ 1 1 5 ,3 7 6 6 6
A c cru ed sin k in g fu n d s_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
7 4 ,9 7 9 2 7
A c c r u e d lea se r e n ta ls _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
2 5 ,0 0 0 0 0
Accrued taxes_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
2 5 ,1 5 2 8 4
2 4 0 ,5 0 8
1 8 6 ,9 4 7
R eserve fu n d s.

00
04

23

77
41

T o ta l lia b ilities_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ $ 1 2 ,0 8 3 ,6 9 6 4 5
P ro fit a n d lo ss— S u r p lu s _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
1 5 6 ,4 5 6 8 0
.$ 1 2 ,2 4 0 ,1 5 3 2 5

T o ta l assets .

T h e p r in c ip a l o ffice o f th e C o m p a n y , N o . 15 E x c h a n g e
P la c e , J ersey C ity , N . J.
T h e p r in c ip a l bu sin ess office o f th e C o m p a n y , O u tlo o k
B u ild in g , N o . 44 E a s t B r o a d S tre e t, C o lu m b u s , O h io.
A g e n c y f o r th e tra n sfer a n d re g is tra tio n o f b o n d s , C en tral
T r u s t C o m p a n y o f N ew Y o r k , N ew Y o r k C ity.
A n n u a l m e e tin g o f S to c k h o ld e r s la st M o n d a y in Ju n e.
F isca l y e a r en d s M a rch 31.
A n A n n u a l R e p o r t w ill b e p u b lis h e d a fte r th e close o f e a ch
fisca l y e a r , in d ic a tin g in p r o p e r d eta il th e resu lts o f th e
o p e r a tio n s o f th e C o m p a n y fo r su ch p e r io d .
■ D ire cto rs o f th e C o m p a n y :
J oh n H . W in d e r , E . A . C ole,
H . H . H e in e r, S. P . B u s h , H . L . C h a p m a n , W m . F . H o f f ­
m a n , C o lu m b u s , O h io ; C. L . P o s t o n , A th e n s , O h io ; J o h n R .
T u r n e r , J erse y C ity , N . J.
O fficers o f th e C o m p a n y :
P r e s id e n t, J o h n H . W in d e r ,
C o lu m b u s , O h io; V ic e -P r e s id e n t, H . H . H e in e r, C o lu m b u s ,
O h io ; S e c r e ta r y a n d T re a su re r, C. A . S u y d a m , C o lu m b u s ,
O h io . $
F iled h erew ith :

C ertified
certified c o
m onth s end
D eed s from

copy o
py of
ed M ar
the S u

f A rticle s
C o lla tera l
ch 31 1906
nday Cree

o f In c o r p o r a tio n ; certified c o p y o f B y -la w s ;
T ru st In d e n tu re ; A n n u a l R e p o rt for n in e
; c e rtifie d c o p y o f B ill o f S a le a n d W a r r a n t y
k C oal C o m p a n y to S u n d a y C reek C o m o a n y ;

Pabst Brewing Co., Milwaukee.— To Issue Bonds in P ay­
ment.— A first m o r tg a g e h as b e e n file d t o th e W is c o n s in
T r u s t C o ., M ilw a u k e e , as tr u s te e , t o se cu re an issu e o f $ 3 ,5 0 0 .0 0 0 4 % g o ld b o n d s o f $ 1 ,0 0 0 e a c h , d a te d J u n e 1 1906
a n d d u e in in s ta lm e n ts in fr o m o n e t o t w e n t y y e a r s , b u t s u b ­
je c t t o ca ll a t a n y tim e a t 105 a n d in te r e s t. In te re s t p a y a b le
D e c . 1 a n d J u n e 1 a t o ffice o f tr u s te e .
I m p r o v e m e n t s to
b o ile r h o u se a n d e le c tr ic p o w e r p la n t , in v o lv in g an e x p e n ­
d itu r e o f b e tw e e n $ 4 5 0 ,0 0 0 an d $ 5 0 0 ,0 0 0 , are in p r o g re ss.
T h e “ M ilw a u k ee W is c o n s in ” o f J u n e 30 sa y s:

In p
test, M
p aym e
pany.
H e y l's
day.

u r s u a n c e o f th e a g r e e m e n t o f s e ttle m e n t in th e S c h a n d e in w ill c o n ­
r s . C la r a S . H e y l h a s so ld h e r s to c k in th e c o r p o r a tio n , a c c e p tin g in
n t $ 6 0 0 ,0 0 0 in real e sta te a n d th e r e m a in d e r in b o n d s o f th e c o m ­
T h e p rice stip u la te d to b e p a id b y th e b r e w in g c o m p a n y for M rs.
h o ld in g s w a s $ 4 ,0 7 4 ,3 0 0 . D e e d s to t h e r e a l e s ta te w e r e file d t o ­

A W is c o n s in c o r p o r a t io n w ith $ 1 0 ,0 0 0 ,0 0 0 c a p ita l s t o c k
(in $ 1 ,0 0 0 s h a r e s ), b u t h e r e to fo r e n o o u ts ta n d in g b o n d s .
B u sin ess e s ta b lis h e d in 1844; p re s e n t c a p a c it y a b o u t 2 ,0 0 0 ,000 b a rre ls .
G u s ta v e P a b s t is 'P r e s id e n t ; C. W . H e n n in g ,
V ic e -P re s id e n t; H . J. S ta rk , S e c r e ta r y .

Realty Syndicate, California.— Bonds in Part Paym ent .—
See C o n tra C osta W a te r C o. a b o v e ;— V . 7 9 , p . 2746.

Southern Coal & Transportation Co.— Change in Control.—
See C o n s o lid a tio n C oa l C o. a b o v e a n d V . 8 2 , p . 1154.

Standard Roller Bearing Co.,

Philadelphia.— Status.—

T h is c o m p a n y in M a rch la st in cre a se d its c a p ita l s t o c k ,
a u th o r iz e d a n d o u ts ta n d in g , fr o m $ 2 ,0 0 0 ,0 0 0 (o f w h ic h
$ 1 ,0 0 0 ,0 0 0 w as 6 % n o n -c u m u la t iv e p r e fe r r e d ) t o $ 3 ,5 0 0 ,0 0 0 ,
b y th e sale a t p a r o f $ 1 ,5 0 0 ,0 0 0 n ew c o m m o n sh ares to its
sh a re h o ld e rs.
N o b o n d s o r m o r tg a g e .
T h e p la n t has b e e n
a n d is b e in g m u ch e n la rg e d .
A f i v e - s t o iy a d d it io n , is n o w
p rop osed .

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

T o t a l lia b ilitie s a n d s u r p lu s .

ce rtified c o p ie s o f le a se s b e t w e e n S u n d a y C r e e k C o m p a n y , L e s s e e , a n d (a )
K a n a w h a & H o c k in g C oal & C o k e C o m p a n y , (b) C o n tin en tal C oal C o m ­
p a n y , (c) th e B u c k e y e C o a l & R a ilw a y C o m p a n y , (d ) th e O h io L a n d &
R a ilw a y C o m p a n y , L e sso rs; O p in io n o f C o u n se l; C ertifica te o f T ru ste e
(a) re la tin g to th e issu a n c e a n d certifica tion o f S u n d a y C re e k C o m p a n y
b o n d s , (b ) c e r tify in g to d e p o sit o f th e co lla tera l u n d e r th e T r u st I n d e n ­
tu re; L e tte r fro m F iscal A g e n ts o f th e C o m p a n y in d ica tin g th e n u m b e r of
p e rso n s or p arties to w h o m b o n d s of th e S u n d a y C re e k C o m p a n y w e re
so ld ; ce rtified c o p ie s o f R e s o lu t io n s a d o p t e d b y th e S to c k h o ld e r s a n d
D ire cto rs o f S u n d a y C re e k C o m p a n y a p p e rta in in g to th e issu e o f said
b o n d s; C ertifica te o f C h ie f E n g in e e r s h o w in g a c re a g e o f la n d s o w n e d a n d
le a se d , a n d o th e r p r o p e r ty o f th e C o m p a n y ; s p e c im e n b o n d ; certified
sta te m e n ts o f In c o m e A c c o u n ts of co n stitu en t c o m p a n ies for y ea r e n d ­
in g M a r c h 3 1 1 9 0 4 , a n d fo r fifte e n m o n t h s e n d e d J u n e 3 0 1 9 0 5 : c e rtifie d
sta te m e n ts of In c o m e A c c o u n t a n d B a la n c e S h eet of S u n d a y C reek C o m ­
p a n y for n in e m o n th s e n d e d M a rc h 31 1 9 0 6 .
SU N DAY CREEK

COM PANY,

B y J O H N H . W I N D E R , President.
T h e C o m m itte e o n S to c k L ists r e c o m m e n d s t h a t th e a b o v e d e s c rib e d $ 3 ,8 6 5 ,0 0 0 T h ir t y -N in e Y e a r F iv e P e r C ent C ol­
la tera l T r u s t S in k in g F u n d C o u p o n B o n d s o f 1 9 4 4 , fo r 8 1 ,0 0 0
e a c h , numbers as stated in this application, b e a d m itte d to
th e list.
GEORGE W . E LY ,
W M. W . HEATON,

Secretary.

Chairman.

A d o p t e d b y th e G o v e r n in g C o m m itte e J u ly 11 1906.
p o r a te d in J u n e 1905 a n d h a s ta k e n o v e r u n d e r leases th e
K a n a w h a & H o c k in g C oa l & C o k e C o ., th e C o n tin e n ta l C oa l
C o ., th e B u c k e y e C oa l & R a ilw a y C o . a n d th e O h io L a n d
& R a ilw a y C o.
T h e c o m p a n y has also a c q u ir e d th e S u n d a y
C reek C oa l C o .
T h e fa c ts re g a r d in g th e s e v e r a l c o m p a n ie s ,
in c lu d in g in c o m e a c c o u n ts a n d b a la n c e s h e e ts , are g iv e n
v e r y fu lly in th e s ta te m e n t p r in te d o n a s u b s e q u e n t p a g e .—
V . 83 , p . 100.

Tennessee Coal, Iron & Railroad Co. — Improvements.— T h e
fo llo w in g s ta te m e n t is p r o n o u n c e d a p p r o x im a t e ly c o r r e c t :
T h e p ro p o sed im p r o v e m e n ts in clu d e th e d o u b lin g of th e ca p a city of
th e o p e n -h e a rth p la n t at E n sle y . T h e n u m b e r o f n e w o p e n -h e a rth
fu rn a ce s h a s n o t b e e n d e fin ite ly d e c id e d , b u t a fte r th e y are c o m p le te d
th e 1 0 e x is tin g fu r n a c e s w ill b e r e p la c e d o n e b y o n e w it h e n tir e ly n e w u n its.
T h e c o m p a n y in te n d s to b u ild th e n e w fu rn a ce s, th eir c a p a c ity to b e
2 5 ,0 0 0 to n s p e r m o n t h , d u r in g th e c o m in g y e a r . In th e rail m ill a lte ra ­
tio n s w ill b e m a d e in c r e a sin g th e ro llin g c a p a c ity . A c e n tra l ele ctricp o w e r sta tio n w ill also b e c o n str u c te d . S e v e r a l o f th e e x istin g fu r n a c e s
are u n d e rg o in g re co n stru ctio n or th e in sta lla tio n o f n e w e q u ip m e n t. A
to ta l o f a b o u t $ 2 ,5 0 0 ,0 0 0 is to b e e x o e n d e d d u r in g th e n e x t Y e a r .— V .
83, p. 42.
Union Stock Yards Co., South Omaha, Neb.— Status.—S a m u el B u rn s J r ., O m a h a , N e b ., w h e n o ffe r in g s t o c k
c e n tly a t a p r ic e to n e t th e in v e s to r a b o u t 6 % , sa id :

C a p i t a l . $ 7 , 5 0 0 , 0 0 0 ( p a r , $ 1 0 0 ) . D i v i d e n d , 6% p e r a n n u m , p a y a b l e
q u a rte rly in M a r c h , & c . C o m p a n y in c o r p o r a te d in N e b r a s k a in 1 S 8 3
a n d h a s s h o w n a ste a d y in crea se in b u sin ess. O w n s o v e r 2 0 0 acres of
la n d , so situ a te d as to co n tro l th e en tire b u sin ess o f th e p a c k in g h o u se s.
T h e y a r d s are p a v e d w ith b ric k : p e n s a n d b u ild in g s o f a p e rm a n e n t
ch aracter. O w n s a n d o p e ra te s th e sw itc h in g service. T h e y a rd s are
e n te r e d b y te n d iffe re n t r a ilr o a d s. R e g u la r d iv id e n d s h a v e b e e n p a id
fo r fifte e n y e a r s . In 1 9 0 4 a s to c k d iv id e n d w a s d e c la r e d . D a ily c a p a c ity
o f y a r d s, 3 0 ,0 0 0 ca ttle, 4 0 ,0 0 0 h o g s, 5 0 ,0 0 0 sh e e p , 1 5 ,0 0 0 h o rses.
T h e resu lts fo r th e s ix m o n th s e n d in g J u n e 30 are r e p o r te d :
Receipts —

Cattle.

H ogs.

Sheep.

H orses,& c.

1 4 ,2 8 5
4
1 ,4 4 2 ,5 4 7
7 6 0 ,7 6 6
1 9 0 6 (6 m o s .) ..4 7 4 ,5 7 8
1 4 ,4 1 0
4
1 ,2 9 9 ,7 0 5
7 4 0 ,7 1 2
. 4 2 6 ,8 4 1
The company will begin shortly the erection ot this plant to manufacture 1 9 0 5 ( 6 m o s . )
C onsum ption —
annular bail bearings on which it holds basic patents. Dunns the past year
the company equipped with machinery a four-story build.ns 95x200 feet iron 1 9 0 6 ( 6 m o s . ) . . 3 6 1 , 1 2 1
1 ,3 5 9 ,1 4 9
4 7 9 ,7 0 6
foundry <0xt50 feet, hardening and tempering building 70x150 feet and crucible- 1 9 0 5 ( 6 m o s . ) . . 3 0 6 , 9 2 1
1 ,2 2 2 ,7 8 1
4 6 7 .0 S 9
steel castings plant 60x100 feet. With the erection of its new building more than — Y . 7 6 , p . 1 1 9 6 .
1.000
hands will be employed by the concern in the manufacture of steel balls, ball
bearings, roller bearings’ automobile axles and annular bail bearings.— V .S 0 , p . i 7 3 ,s.
United Bank Note Corporation.— First Dividend on
Sunday Creek C o .— Official Statement— O n p r e c e d in g p a g e s mon.— T h is n e w c o m p a n y , w h ic h o w n s n e a r ly all o f th e
w e g iv e th e o fficia l s ta te m e n t m a d e to t h e N ew Y o r k S to c k
E x c h a n g e in c o n n e c t io n w ith th e lis tin g o f th e S u n d a y C reek
C o . c o lla te r a l tr u s t 5 % b o n d s .
T h e c o m p a n y w as in c o r ­

re­

Cars.

3 ,7 7 6
0 ,2 1 9

Com­

s to c k
o f th e A m e r ic a n B a n k N o te C o ., o n T h u r s d a y d e cla re d a
d iv id e n d o f 1 % o n th e c o m m o n s t o c k , p a y a b le A u g . 15
to s to c k h o ld e r s o f r e c o r d A u g . 1 .— V . 8 2 , p . 1383, 457.

THE CHRONICLE.

J u l y ill 1900.]

United States Express Co.— S tatem ent Discredited.— A
representative of President Platt, to whom we submitted the
recent statement as to an alleged official assurance of an in­
crease in the dividend rate, said that the latter had not made,
and would not make, any such statement. Compare “ New
York Sun” of June 30.— V. SI, p. 977.
Utah Independent Telephone Co., Salt Lake City.— I n t e r ­
est in Compam/.— See report of United States Independent
Telephone Co. under “ Annual Reports” on a preceding page.
The company was incorporated in Utah in 1903 with $1,000.000 authorized capital stock, and acquired the franchise
of the Utah Home Telephone Co.
Victor Fuel Co., Denver, Col.— Earnings.— For May and
the 11 months ending May 31:

Period
Covered.

G ross
E a rn s.

1900 (May) - .§ 2 2 3 ,2 1 8
1905 (May) - _ 145,517

1905-06
(11 inos.)_ 1,9 96,3 99
1904-05
v11 mos.). 1.425,459

S in k . fd .
In t. &
T a x e s . D e p r e c . , etc .

B a t.,
S urp.

N et
E a rn s.

N et
In c.

§51 .912
21,108

§ 62 ,307
3 0 ,2 3 6

§1 0 ,0 3 6
9,133

§ 1 1 .8 1 1
8,411

§40,460

45 3,05 0

549,855

103,700

103.900

34 2,25 5

192,471

2 S 2 .0 1 1

9 4 ,0 5 0

79.6S5

108,276

12,692

Compare b o n d o f f e r i n g i n V '• 8 2 , p . 1 2 1 6 .
Washington & Potomac Steamboat Co. -P u r c h a s e — N ew
Bond Issue.— This company, incorporated in Washington,
D. C., on May 3, with either §300,000 or §350,000 capital
stock, in shares of §100 each, as successor to the E. S. Ran­
dall Potomac River Line Co. and the E. S. Randall Steam­
boat <fc Excursion Co., has made a mortgage to secure an
issue of §200.000 5 % bonds of §500 each, due May 4 1926.
An exchange says:

IG;J

Jluc (Commercial J im

es.

COMMERCIAL EPITOME.
20 1906.
T h e b u s in e s s s itu a tio n in th is c o u n t r y c o n tin u e s t o b e in
th e m a in fa v o r a b le . T h e r e is a v e r y n o tic e a b le s c a r c ity o f
la b o r in v a r io u s p a r ts o f th e U n ite d S ta te s , n o t o n ly in th e
A g r ic u ltu ra l s e c tio n s b u t a ls o , it a p p e a r s , in s o m e o f th e
la rg e m a n u fa c tu r in g c e n tre s. T h e p ro sp e c ts fo r m o s t of
th e cro p s co n tin u e g o o d . T h e c o n tin u e d a c tiv ity of iron
n d ste e l a n d in t h e b u ild in g t r a d e s is a n in te r e s tin g a n d
s ig n ific a n t p h a s e o f t h e s itu a tio n . I t is tr u e , h o w e v e r , t h a
t h e t h r e a t e n i n g p o l i t i c a l s i t u a t i o n in . R u s s i a i s b e i n g c l o s e l y
w a tc h e d a s a lso s o m e s y m p a th e tic m a n ife s ta tio n s in th
L on d o n stock m ark et.
L A R D o n th e sp o t h a s b e e n s o m e w h a t easier, o w in g to
th e d u ln e ss o f tr a d e a n d s o m e d e clin e in th e fu tu re m a r k e t;
c ity , 8 % c .; W e s te r n , 9 .0 5 c . R e fin e d la rd h a s also b e e n
d u ll w ith C o n tin e n t lo w e r a t 9 .4 5 c . a n d o th e r g r a d e s u n ­
c h a n g e d a t 1 0 c . fo r S o u th A m e r ic a a n d 1 1 c . fo r B ra z il in
k e g s . T h e s p e c u la t io n in la r d , fu tu r e s h a s b e e n r a th e r less
a c tiv e a t s o m e d e clin e in p rices, o w in g to g e n e r a l liq u id a tio n
a n d a n a b sen ce of a n y a g gressive su p p o rt, th o u g h p ack ers
h a v e b o u g h t a t tim es.

The mortsase covers the real estate holdings of the company at River
View and Colonial Beach and also the steamers St. John’s, Queen Anne,
Harrv Randall, Estelle Randall, the Wakefield and the T. V. Arrowsmith.
Trustees of company, Ephraim 8. Randall, Harry Randall, George O.
Carpenter, George C. Henning, R. H. Lynn, D. A. Greenless, Walter
Hieston, all of Washington, and Jackson H. Ralston of Hyattsville, Md.

Wells, Fargo & Co.— Further Circulars.— Walter C. Stokes
& Co., having on July 11 sent an additional circular to the
shareholders, the management on July 19 sent out a second
statement (see “ New York Tribune” of Thursday) in which
the}' quote the public accountants, Haskins & Sells, as
follows (compare balance sheet published last week, p. 90):
We have examined the published statement of Wells, Fargo & Co.’s
banking department, of Aug. 1 1904, referred to in the circular letter
of Messrs. Stokes A- Co., dated July 11 1906. This is a statement of the
banking department, and in it the sum of S500,000 was arbitrarily appor­
tioned as the capital of the banking department and the balance of the
capital, as well as the surplus, of Wells, Fargo & Co. appears in that
statement under the headings “ Surplus” and “ undivided Profits.” The
total of these items (§15,916,545) represents the capital, surplus and
undivided profits of Wells, Fargo A Co. (the company as an entirety)
at that time, and the surplus at that date over and above its capital
stock of -SS,000.000 was §7,916,545, and no more. As stated, the
capital stock of Wells, Fargo & Co. was, at that time, and has ever since
been. §8,000,000. and for the purposes of the banking department
§500.000 was treated as capital and §7,500.000 as surplus; but the total
assets of Wells, Fargo & Co. were no more and no less because of this
departmental statement, and were the same whether the 87,500,000
was treated as capital or surplus. The banking department was not an
independent corporation with separate assets, but merely a branch of
the business of Wells, Fargo & Co. This arbitrary division of accounts
was changed upon our recommendation in 1904,~but it was merely
matter of bookkeeping, and neither increased nor diminished the assets
of the corporation. Such surplus of §7,916,545 in August 1904 has since
increased to §12,423,537.— V. 83, p. 90.

Western States Portland Cement Co., Independence, Kan
— Dividends.— See Northwestern States Portland Cement Co.
above.
— Attention is invited to the report (which appears in
to-day's issue on the page opposite the clearings statement)
made by the Lawyers' Mortgage Co. of New York for the
first half of the year 1906. This company has sold during
the past six months §12,629,387 of guaranteed mortgages
has made a net increase in outstanding guaranteed mort­
gages of $7,405,296 and has now outstanding a total of
$48,282,077 of guaranteed mortgages in Manhattan, Brook­
lyn and the Bronx. Its President is Richard M. Hurd
The concern has joint offices with the Lawyers’ Title Insur­
ance & Trust Co. in the Chamber of Commerce Building on
Liberty Street. A booklet entitled “ The Science of City
Mortgage Lending,” indicating the principles on which the
company’s mortgage lending is based, will be sent on re­
quest .
— W . N. Coler & Co., 59 Cedar Street, members of the
New York Stock Exchange, this week opened a branch in
the Stanford Building, Schenectady, N. Y . The new office
will be under the direction of Samuel N. Strong, and will be
equipped with every facility the New York house has for
investments.
— Messrs. Mackay & Co. and N. W . Halsey & Co. have
mailed checks for the profits to the members of the Tri-City
Railway & Light Co. syndicate (§6,000,000 collateral trust
first lien 5 % bonds). Syndicate organized April 20th and
closed June 30th, all bonds having been sold.
— The New York banking house of E. F. Hutton & Co. has
changed the location of its Pacific branch since the disaster
at San Francisco from the latter city to Los Angeles. It is
stated that the opening of a Pasadena branch is planned.
— The well-known New York Stock Exchange house of
Post & Flagg. 38 Wall Street, announce that they have
special facilities for securing stock options in the London
market. '
— James D. Smith & Co., bankers, 71 Broadway, ad­
mitted William A. M. Burden into the firm this week.

F r id a y N ig h t, J u ly

DAILY' CLOSING PRICES OF LARD FUTURES IN CHICAGO.
S a t.

July delivery------------S■ .S9.97 A
7A
September delivery— 9.10
9.12UU
October delivery____ 9.12
gg

M on.

8 92 A
9.05
9.10

T u es.

8.90

9 .0 2 A
9 .0 7 A

W ed .

8.95
9.05
9.10

T h u rs.
8 .8 7 A
8 .9 7 A

9.05

F r i.

8.80
8.90
8.97 A

P O R K o n th e sp o t h a s b e e n in la rg er d e m a n d a n d p rices
h a v e a d v a n c e d , t h o u g h th e rise h a s b e e n d u e p a r tly to th e
stren g th of th e fu tu re m a rk e t; m ess, old , §1 8 7 5 @ $ 1 9 ;
n e w , § 1 9 5 0 @ § 2 0 ; cle a r, § 1 7 @ § 1 8 7 5 ; fa m ily , § 1 9 5 0 .
C u t m e a ts h a v e b e e n in fair d e m a n d a n d s te a d y ; p ic k le d
sh o u ld e r s, S j^ e .; p ic k le d h a m s , 1 2 c ., a n d p ic k le d b e llie s,
1 4 @ 1 0 lb s ., l l @ 1 2 ) ^ c . B e e f h a s b e e n fa ir ly a c tiv e a n d
stead y;
m ess, | 8 @ § 8 50;
p ack et, §8 5 0 @ § 9 ;
fa m ily ,
§ 1 0 @ § 1 0 50; ex tra Ied ia m ess, $ 1 5 @ § 1 5 50. T a llo w h as
b e e n q u ie t b u t firm e r; c ity , 5c. S te a r in e s h a v e b e e n d u ll
a n d e a s y ; o l e o , 8 % @ 8 % c .; l a r d , l O J ^ c . B u t t e r h a s b e e n
in fair d e m a n d a n d s te a d y ; W e s te r n e x tr a s, 2 1 c . C h ee se
h a s b e e n m o r e a c tiv e a n d firm e r; S ta te fa c to ry , l l ^ c .
E g g s h a v e b e e n q u ie t a n d s te a d y ; W e s t e r n firsts, 1 7 ) ^ © 1 8 c .
O I L .— C o tto n s e e d oil h a s b e e n r a th e r e a sjQ b u t q u o ta ­
tion s are m a in ly n o m in a l, th e tra d in g h a v in g c o m e to a
sta n d still; p r im e s u m m e r y e llo w , 3 7 j^ c .; p r im e w in te r
y e llo w , 4 0 c. L in se e d h a s b e e n ste a d y w ith b u y e rs h o ld in g
off, o w in g to fa v o ra b le p ro sp e cts fo r th e n e w crop ; city , r a w ,
A m e r ic a n se e d , 3 8 @ 3 9 c .; b o ile d , 3 9 @ 4 0 c .; C a lcu tta seed ,
ra w , 68c. L a r d q u iet a n d ste a d y a t 6 9 @ 7 1 c . for p rim e .
O liv e , q u iet a n d ste a d y ; y e llo w , 5 6 @ 5 8 c .; g re e n , 5 8 @ 6 0 c .
C o c o a n u t, q u ie t a n d firm ; C o c h in , 8 @ 8 J ^ c .; C e y lo n , 7 @
7J 4 c. P e a n u t, q u iet a n d ste a d y ; w h ite , 5 5 @ 6 5 c .; y ello w ,
5 0 @ 6 0 c . C o d , stead }q d o m e stic , 3 5 @ 3 6 c .; N e w fo u n d la n d ,
3 8 @ 4 0 c .
C O F F E E o n th e sp o t h a s b e e n in lig h t d e m a n d a n d w ith ­
o u t n o te w o r th y c h a n g e in q u o ta tio n s; R io N o . 7 , 7 % c .;
S a n to s N o . 4, 8 )^ c . A V est In d ia g ro w th s h a v e b een q u iet
a n d ste a d y ; fair to g o o d C u c u ta , 8 % @ 9 3 ^ c . T h e m a r k e t
for fu tu re co n tra c ts h a s flu ctu a te d w ith in a n a rro w ra n g e
w ith th e tr a d in g still o n a v e r y s m a ll s c a le . O f la te th e to n e
h a s b e e n s o m e w h a t firm e r, o w in g to fa v o r a b le re p o rts in
re g a rd to th e B ra zilia n v a lo riza tio n sc h e m e .
T h e clo sin g p rice s w e re as fo llo w s:
J u ly ___________ 6.35c.
A ugust_________ 6.40c.
September_____6.45c.
O ctober________ 6.55c.

N ovem ber_____6.65c.
December______6.75c.
January_______ 6.85c.
February______6.95c.

March_________ 7.00c.
April____________7.05c.
M a y __________ 7 15c.
June____ _____ 7.20c.

S U G A R .— R a w le ss a c tiv e b u t fir m , o w in g to lig h t o ffe r­
in g s. S ellers h o ld in g fo r h ig h e r p rice s; c e n trifu g a l, 9 6 -d e ­
g re e s te st, 3 % c .; m u s c o v a d o , 8 9 -d e g r e e s te st, 3 ^ c .; m o ­
la sses, 8 9 d e g r e e s te s t, 3 c . R e fin e d h a s b e e n in a c tiv e d e ­
m a n d a n d firm ; g r a n u la te d , 4 .5 0 @ 4 .6 0 c . S p ic e s h a v e b e e n
in m o d e r a te d e m a n d a n d ste a d y . T e a s h a v e b e e n in a c tiv e
a n d w ith o u t n o te w o r th y c h a n g e . H o p s h a v e b e e n firm a n d
q u iet.
T O B A C C O h a s b e e n q u ie t a n d s te a d y a s a ru le , th e o n ly
fe a tu re of th e m a r k e t of in terest b e in g a s te a d y d e m a n d for
S u m a tr a a t str o n g p rices. A d v ic e s in re g a rd to th e n e w
K e n t u c k y c r o p c o n tin u e to b e in th e m a in o f a fa v o r a b le
ch a ra c te r, th o u g h s o m e re p o rts fro m L o u isv ille sta te th a t
th e B u r le y c r o p is n o t m a k in g a s g o o d p ro g r e ss a s e x p e c te d .
P E T R O L E U M h a s b een stro n g w ith a n activ e d e m a n d .
R e p o rts fro m so m e o f th e old er p ro d u c in g region s in d ica te
th a t th e o u t p u t is d im in is h in g . R e fin e d , b a r r e ls , 7 .8 0 c .;
c a s e s , 1 0 . 3 0 c . ; a n d b u l k , 4 . 7 0 c . N a p h t h a , 73(3 70 d e g r e e s ,
1 7 c. in 1 0 0 -g a llo n d r u m s . G a s o lin e , 8 9 d e g r e e s , 2 0 c . in
1 0 0 -g a llo n d r u m s . S p irits o f tu r p e n tin e h a s b e e n q u ie t a n d
e a s y a t 6 0 J ^ c . R o s in h a s b e e n q u ie t a n d easier; c o m m o n to
g o o d strain ed , §3 8 5 @ $ 3 90.
C O P P E R h a s b e e n q u ie t a n d s te a d y ; la k e , I S L r .; e le c­
t r o l y t i c , 1 8 }4 c . L e a d s t e a d y a t 5 . 7 5 c . S p e l t e r m o r e a c t i v e
a n d firm e r a t 5 .9 5 @ 6 c . T in firm e r; S tra its, 3 6 .5 0 © 3 6 .5 5 c .
Iron h a s b een ste a d y a n d m o re active; N o . 1 N o rth e rn ,
$18 5 0 @ § 1 9 ; N o. 2 S ou th ern , 8 1 7 @ $ 1 7 50.

164

THE CHRONICLE

[Y ol.

COTTON.

O n S h ip b o a r d , N o t C lea red f o r —

20 1906.
T H E M O V E M E N T O F T H E C R O P as in d icated b y ou r
t e le g r a m s f r o m th e S o u t h t o -n ig h t is g iv e n b e lo w . F o r
th e w e e k e n d in g th is e v e n in g th e to ta l receip ts h a v e re a ch e d
2 5 ,6 0 1 b a le s, a g a in st 2 7 ,4 4 0 b a le s la st w e e k a n d 2 5 ,0 6 8
ib a le s th e p r e v io u s w e e k , m a k in g th e to ta l r e c e ip ts sin c e
th e 1st o f S e p te m b e r 1 9 0 5 7 ,6 5 6 ,3 5 3 b a le s, a g a in st 9 ,6 7 7 ,8 2 1
b a le s for th e sa m e p erio d o f 1 9 0 4 -0 5 , sh o w in g a d ecrease
■sin ce S e p t. 1 1 9 0 5 o f 2 ,0 2 1 ,4 6 8 b a le s .
E r id a y N ig h t , J u l y

R e c e ip t s a t—

G alveston__
Pt. Arthur, &e
New Orleans .
.Mobile ___ _
Pensacola, &c
Savannah . . . .
Brunswick___
Charleston_
Georget’n, &c.
Wilmington
Washingt’n,& c
Norfolk _ .
N'port. N., &c
New Y o r k .......
Boston
B altim ore___
Philadelphia .

T u es.

M on.

S a t.

1,348

101

1,113
294

2,607
228

1,360
81

575

914

126

946

69
____
259

58
_____
328
_____
_____

1,472
606
1,635
1,948
____
77
3
4
_____
559
_____
_____
128

2,816

5,855

9
_____
174
_____
_____
—

—

2,811

2,422

66

49
7,829

246
_____
346
41
1,068
_____
387
__ - 4
_____
330
_____
_ _ .__

1,020

T o ta l.

F r i.

T h u rs.

774

-J ---

Totals this wk_

W ed .

380

_____

300
275
1,214
21
150
853
____
355
____
52
____
298
213

3,149
275
8,112
1,271
1,785
6,378
____
1,957
3
196
—
1,948
213

____
137
—

128
137
49

3,868

25,601

T h e f o l l o w i n g s h o w s t h e w e e k ’s t o t a l r e c e i p t s , t h e t o t a l
sin ce S e p t. 1 1 9 0 5 , a n d th e sto c k s to -n ig h t, c o m p a r e d w ith
la st year:
1905-06.
R e c e ip ts at
J u l y 20.

T h is
w eek.

1 1905.

S to c k .

S in c e S ep

T h is
w eek .

1906.

1 1904.

3,149 2,525,231 34,770 2,712,970
47 289,187
275 149,414
8,112 1,621,037 16,734 2,606,847
4,494 321.813
1,271 244,073
200 199,976
1,785 168,908
6,378 1,470,587 25,473 1,793,458
2,247 198.813
184,548
1,603 218,079
1,957 172,547
902
1,251
3
5", 153 368,426
196 325,449
122
l",948 628,963 12,127 755,548
26,393
598
22,034
213
442
33,069
6,575
77,462
122
63,012
128
61,676
87
63,772
137
8,952
13,080
85
49

Galveston____
Pt. Arthur, &c_
New Orleans _.
M obile__ _ .
Pensacola, &c_
Savannah
Brunswick
Charleston___
Georget’n, &c_
W ilm ington__
Washington ,&c
'Norfolk _ ____
N ’port N., &c_
New7Y ork .
Boston _. _ _
Baltimore _ Philadelphia ._
Total

1904-05.

S in c e S ep

25,601 7,656,353 104,182 9,677,821

. __

1905.

19,826

80,840

~ 48", 68 6

" 74",720

6,748

11,018

31,873
725
5,459

50,139
4,860
5,423

415

16,277

" 12,857

" 25",328

98,198
3,606
3,026
1,859

135,023
3,589
7,875
3,010

233,278

418,102

In ord er th a t co m p a riso n m a y b e m a d e w ith oth er yea rs,
w e g iv e b e lo w th e to ta ls a t le a d in g p o rts for six seaso n s:
J te c e ip ts at

1906.

1904.

1905.

1902.

.1903.

1901.

Galv’n, &c
N. Orleans.
Mobile . . .
Savannah _
Ch’ston,&c.
W ilm ’n,& c.
Norfolk . _ _
N ’p ’t N.,&c
All others _ _

3,424
8,112
1,271
6,378
1,960
196
1,948
213
2,099

34,817
16,734
4,494
25,473
1,603
5,153
12,127
598
3,183

2,296
9,048
241
1,289
5
55
1,421
116
299

69
1,721
854
12
2
54
18
241
869

1,958
3,873
5
597
10
17
1,267
438
4,379

3,964
10,638
33
2,903
84
68
3,115
148
3,600

T ot. this wk

25,601

104,182

14,770

3,860

12,544

24,553

Since Sep. 1 7,656,353 9,677,821 7,089,956 7,625,499 7,419,890 7,490,715

T h e e x p o rts for th e
-to ta l of 2 3 ,7 1 0 b a le s, o f
.4 ,0 9 3 to F r a n c e a n d 1
B e lo w are th e ex p o rts fo

w eek
w h ic
2 ,7 7 0
r th e

W e e k en d in g J u ly
E x p o r te d to —
E x p o r ts
pom —

3,181 1,580

Pensacola___
Savannah ___
Brunswick___

2,350

Newport News
New York___
Baltimore ___
San Francisco.

20 1906'.

C o n ti­
G reat
B rita in . F r ’nce. n e n t.

Galveston___
Pt. Arthur, &c.
New Orleans . .

560

. . . .

—

262
1,233
98
1,513

163
. . . .

en d in g
h 6 ,8 4 7
to th e
w eek an

348
5,183
3,897

2",365
140
837

T o ta l.

th is
w ere
rest
d sin

F r o m S e p t.

even in g
to G reat
of th e C o
ce S ept. 1

5,109 1,015,484 287,572
46,875
5,743 736,923 238,905
54,451 39,140
77,227 39 993
2,350
3,897 198,282 70,554
108,068
5,500
139,595 5,225
12,545 9,000
6,792
262
3,761 172,749 25,406
23S 135,396
82,379 13,974
2,350
35,306
1,880

________

8,834

reach a
B ritain ,
n tin en t.
1905.

1 1905 to J u l y
E x p o r te d to —

G reat
B r ita in . F r a n c e .

Portland, Ore.
Detroit----------

l x x x iii,

C o n ti­
n e n t.

20 1906.
T o ta l.

758,650 2,061,706
66,200 113,075
53S.024 1,513,852
43,219 136,810
49.332 166,552
660,293 929,129
40,483 148,551
4,400
9,900
175,263 320,083
24,822
3,277
7,017
225
288,011 486,166
10,032 145,428
55.333 151,686
3,512
38,818
1 880
37,962
37,962
51;836
5i;836
12,032
12,032
4,848
4,848
4,959
8,834

6,847 4,093 12,770 23,710 2,838,286 729,769 2, S07,8916,375,946
Total 1904-05. 20,403 9,282 18,855 48,540 3,908,039 814,324 3,583,435 8,305,798
Total . . .

In a d d itio n to a b o v e e x p o rts, o u r te le g r a m s to -n ig h t also
g iv e u s th e fo llo w in g a m o u n ts of co tto n o n sh ip b o a rd , n o t
c le a re d , a t th e p o r ts n a m e d . A V e a d d sim ila r fig u re s fo r
N e w Y o rk .

Great
Ger­
Other Coast­
July 20 at— Britain. France. many. Foreign wise.

Total.

New Orleans
Galveston__
Savannah ..
Charleston _
M o b ile __ __
N o r fo lk ___
New York _ _
Other ports.

15,944
7,925
200
300
1,700
9,488
3,300
900

32,742
11,901
31,673
5,159
5,048
3,369
94,898
8,731

11,306 39,757
24,010 123,770
2,413 20 552

193,521
294,332
105,062

6,895
1,770

1,102

3,609
4,660

4,120
595

600

900
600
300

1,800
100

2,102
9,169
17,586 25,303
558
5,757

6,615
5,224
2,113

800
500

Total 1906 10,565
Total 1905 51,647
Total 1904
9,711

100
—

218
900
200
300
200
9,488
—

Leaving
stock.

T h e s p e c u la tio n in c o tto n fo r fu tu r e d e liv e r y h a s b e e n
q u ie t a t s o m e d e clin e in p rice s. T h is w a s d u e to th e fa c t
t h a t th e c r o p a d v ic e s h a v e s e e m e d to b e in th e m a in fa v o r a ­
b le a n d to th e c o n tin u e d d u ln e ss o f th e s p e c u la tio n , s o m e
se llin g b y th e S o u th a n d b y s p o t in te re sts a n d m o r e o r less
a g g r e s s i v e o p e r a t i o n s o n t h e s h o r t s i d e b y s o m e o f t h e A \ ra l l
S treet e le m e n t. A crop re p o rt issu ed b y th e statisticia n of
o n e o f t h e \\ra ll S t r e e t h o u s e s p u t t h e c o n d i t i o n a t 8 3 . 5 % ,
o r o n l y .4 o f 1 % le s s t h a n o n J u n e 2 9 , .8 o f 1 % le s s t h a n o n
J u n e 18 a n d 6 .8 % h ig h e r th a n o n J u ly 15 la st y e a r . T h is
h a d a m o r e o r less d e p r e ssin g e ffe ct, a s a m o r e u n fa v o r a b le
r e p o r t h a d b e e n e x p e c t e d . T h e n , t o o , t h e G o v e r n m e n t ’s
w e e k ly w e a th e r s u m m a r y o f la st T u e s d a y w a s m u c h m o r e
ch e e rfu l th a n h a d b e e n a n tic ip a te d , r e p o r tin g fa r le ss
d a m a g e b y rain s in th e C a ro lin a s a n d G e o rg ia th a n s o m e of
th e p r iv a te r e p o r ts h a d le d m a n y to e x p e c t . T h e o ffic ia l
d a ily re c o rd o f th e ra in fa ll s h o w s a v e r y h e a v y p re c ip ita tio n
in G e o rg ia d u rin g th e w e e k a n d also in so m e sectio n s of th e
c e n tra l re g io n , b u t th is h a d v e r y little e ffe ct o n th e m a r k e t.
C o p io u s ra in s in T e x a s a re sa id to h a v e b e e n b e n e ficia l. S o m e
o f th e b e lie v e rs in lo w e r p rice s a r g u e th a t a d r y J u n e a n d a
w e t J u ly m a k e v e r y p ro m isin g c o n d itio n s. T h e g en era l
o p in io n is t h a t t h e c r o p is d o in g v e r y w e ll. A t t h e s a m e t i m e
it is q u ite a s c le a r t h a t m o s t p e o p le p r e fe r to a w a it fu r th e r
d e v e lo p m e n ts b efo re ta k in g a d ecisive sta n d o n th e m a rk e t.
M ea n tim e th e sp ot q u o tation s at th e S o u th are rep o rted to
b e firm , o w in g to a g o o d d e m a n d , a n d d e sira b le g r a d e s are
s a id 'to b e n o n e t o o p le n tifu l. S o m e d e p r e s s io n o n t h e L o n ­
d o n sto c k m a r k e t, c o in cid e n t w ith th e tro u b le s in R u s s ia
a n d th e fa ll in R u s s ia n b o n d s a n d B r itis h c o n s o ls , h a s h a d
a certa in in flu en ce in L iv e r p o o l o f la te , a n d in d ire c tly h e re .
T o -d a y p rice s d e c lin e d o w in g to d istu r b in g fin a n cia l r u m o r s
fro m L o n d o n , d ep ression in L iv e rp o o l, b etter w e a th e r a n d
c o n sid e ra b le liq u id a tio n , a s w e ll a s s o m e se llin g , it a p p e a r e d ,
b jr p r o m i n e n t s p o t in te r e s ts . T o w a r d t h e c lo s e t h e r e w a s
so m e reco v ery , o w in g to co v erin g . C o tto n o n th e sp o t a d ­
v a n c e d 10 p o in ts ea rly in th e w e e k a n d h a s h e ld th e a d v a n c e
d e sp ite th e d e clin e in fu tu re s; b u t th e tr a n sa c tio n s h a v e b e e n
lig h t. T h e s t o c k h e r e is still d e c r e a s in g , b u t m u c h o f it is
said to co n sist o f th e lo w e r g ra d es.
Sat.

Mon.

Tues.

W ed.

Thurs.

Fri.

Good Ordinary
Low Middling
_____
Middling
__
_ .
Good Middling .
Middling Fair . _____ .

UPLANDS.

9.90
10.52
10.90
11.34
11.86

10.00
10.62
11.00
11.44
11.96

10.00
10.62
11.00
11.44
11.96

10.00
10.62
11.00
11.44
11.96

10.00
10.62
11.00
11.44
11.96

10.00
10.62
11.00
11.44
11.96

GULF.
Good Ordinary
Low Middling
_ ____
Middling .
Good M iddling__
Middling F a ir __ __ _ _ _

10.15
10.77
11.15
11.59
12.11

10.25
10.87
11.25
11 .69
12.21

10.25
10.87
11.25
11.69
12.21

10.25
10.87
11.25
11.69
12.21

10.25
10.87
11.25
11.69
12.21

10.25
10.87
11.25
11.69
12.21

STAINED.
Low7Middling
_____
M iddling------------- _ . .
Strict Low Mid. Tinged.
Good Middling Tinged

9.40
10.40
10.56
10.90

9.50
10.50
10.66
11.00

9.50
10.50
10.66
11.00

9.50
10.50
10.66
11.00

9.50
10.50
10.66
11.00

9.50
10.50
10.66
11.00

T h e q u o ta tio n s for m id d lin g u p la n d a t N e w i ork o n
J u ly 2 0 fo r e a c h o f th e p a st 3 2 y e a r s h a v e b e e n as fo llo w s:
1906.c . 11.00
1905__ 11.00
1904__.11.00
1903__ 12.50
1 9 0 2 .. . Q Vs
1 9 0 1 .. . 8 7-16
1 9 0 0 .. .10
1 8 9 9 -.- 6 3-16

1898.C.
1 8 9 7 ...
1 8 9 6 ...
1 8 9 5 ...
1 8 9 4 ...
1S93__
1892__
1891__

M A
T h e to ta l sales of
w eek are in d icated
co n v en ien ce of th e r
at a glan ce h o w th e
sam e d ays.

Saturday . .
Monday—
Tuesday
Wednesday
Thursday .
Friday -----Total

&y8
8

7H

7
7 1-16
8X
7 7-16

SH

1890.C.12 3-16
1889___ 11 M
1888___ 10 11-16
1887___ 10 5-16
1886.__ W A
1 8 8 5 -..1 0
18 84 ...1 1
18 83 .__10

R K E T A N D
cotton on th e
in th e fo llo w
e a d e r we a l s o
m a rk e t for sp

1882.C.12M
1881___ 11 11-16
18S0_________ 1113-16
1879-.-11 13-16
1878
11H
1877___ 12 5-16
1876_________ 1111-16
1875___ 15

S A L E S .
sp o t ea ch d a y d u rin g th e
in g sta te m e n t. F o r th e
a d d co lu m n s w h ich sh o w
o ts a n d | fu tu re s clo se d o n

S pot M a rket
C lo sed .

F u tu res
M a rket
C lo sed .

D u l l _______
._
Quiet , 10 pts adv.
Quiet . . . .
Steady
_____ __
Quiet . . _ _
S te a d y .
__

Quiet
Steady______
Steadv
S t e a d y . ____
Barely steady
Steady -----------

S a les o f S p o t
C onE x p o r t s u m 1n .

854
75
141
- — -i

_ - _ -4

1,070

and

C o n tra c t.

C on­
tr a c t .

T o ta l.

300 1,154
75
141
100
"io o
100
100
500

1,570

>r/j ft h-b

H -5 j0 *) c o
; *G r G£ -ft>o
:J
■-ftb1 -ft>o OT
^ 3 •-< co
! C 0I
' - G ' ■ ■* 2
o ' ”G §r O
>
CO
o
,"2
o
, 0 r>
j CQ
<D
* 0^
O ,
S .H £ f o
.

Mc —

p H " CO <4_
^ "a k ”
d o S .2

22 a

£ a
bC

w
o

G eo rg ia

K en tu cky, net.
L o u isia n a _ _ _ _
M ississip p i_ _ _

M
N
O
S
T

issou ri_ _ _ _ _ _ _ _ _ _
o rth C a ro lin a _ _ _ _ _
h io _ _ _ _ _ _ _ _ _ _ _ _
o u th C a ro lin a _ _ _ _ _
enn essee_ _ _ _ __ _ _ _

G reenw ood,
M em p h is,
N a sh v ille
B renham ,
Texas___
C la rk sv ille,
D a lla s,
H oney G rove,
rE*-1 i=- —
s oo _o
s
H ou ston ,
P a ris,

5 .0 g T
r\q CO - g
i— i
05 T - Q0
► H .ft^ S> G
S3 u 0 w

s _ , -f-> . ~ .

T o t a l, 3 3 to\
Saturday,
July 1 4 .

J uly —

R ange
C lo sin g
August —
R ange
C lo sin g
S ep t . —
R ange
C lo sin g

M on d a y ,
Jxdy 1 6 .

Tuesday,
J uly 1 7 .

©
©
PI
HI

5 ,4 8 0 ,3 8 9

W ed n esd ay,
Jxdy 1 8 .

188
4 ,3 9 5
628
1 ,8 5 1
47
1 ,2 7 2
462
6 ,8 1 6
1 ,1 2 5
84
103

10

247
172

200

879
249
107
60
2 ,8 7 5
175
949
450
1 ,7 1 5
360
4
2 ,4 7 7
—

81
,2 4 3
425
40
,3 7 4
33
687
,3 8 9
,0 3 0
125
186
,4 7 9
64
,9 4 7
50

—

2 7 ,9 0 0 1 5 8 ,7 0 1
T hursday,
J uly 1 9 .

M ovem ent to J uly 2 1 1 9 0 5 .
S h ip ’ts. Stocks.
R eceipts.
W eek. J uly 2 1
W eek.
Season.

2 6 ,1 7 2
2 0 1 ,4 2 0
2
1 2 4 ,6 5 9
9 0 ,8 4 1
2 1 3 ,9 2 2
2
3 0 ,5 3 2
9 2 ,2 2 6
1 2 4 ,2 4 5
1
4 2 5 ,0 3 9
5
7 0 ,0 5 6
7 8 ,3 1 3
6 9 ,9 8 9
1
7 ,3 4 3
100 1
2 5 4 ,3 4 3
1 ,5 0 9
5 6 ,1 5 3
401
100 1 07 53 ,, 66 07 29
293
500
600
1 ,9 6 4
1 2 9 ,3 5 1
5 ,1 7 7
7 5 ,0 9 7
892
209
9 8 ,9 7 8
2 ,3 4 0
6
8
6
22 6 5 44 ,, 77 85 24
389
3 ,0 7 0
2 6 ,1 8 3
1 8 ,5 5 8
834
508
1 6 0 ,3 4 8
1 ,6 0 3
6 ,8 8 9
146
22 271
3 ,9 8 5
8 ,9 5 6
4 ,1 0 8 9 6 4 ,4 4 5
1 7 ,4 5 2
287
593
1 3 ,4 1 7
80
769
3 8 ,9 7 4
9 7 ,0 0 0
2 8 ,4 5 7
1 4 ,5 3 6 3 0 ,4 5 (i 2 ,2 7 6 ,0 9 8
1
1 0 7 ,6 9 5
1 ,6 7 5
6 ,3 1 9
4 ,4 1 4
55
2 3 ,8 4 6
1 ,5 7 7
7 ,3 7 3
1 ,4 3 9
1 7 ,9 8 9
1 1 ,7 3 6
4 ,4 2 7
3 ,4 0 5

5 8 ,2 7 4

F r id a y ,
J u ly 2 0 .

—
@
— 1 0 .2 5 ® 1 0 .2 9 1 0 .2 3 ® 1 0 .3 0 1 0 .2 0 @ 1 0 .2 5 1 0 .1 5 @ 1 0 .2 2 1 0 .0 0 @
1 0 .1 7 — 1 0 .2 0 1 0 .2 7 — 1 0 .2 9 1 0 .2 5 — 1 0 .2 7 1 0 .2 1 — 1 0 .2 3 1 0 .1 5 — 1 0 .1 6 10 .0 8 @
1 0 ,2 6 (5 5 1 0 ,3 1 1 0 , 2 8 ® 1 0 ,3 5 1 0 , 2 9 ® 1 0 ,3 6 1 0 ,2 6 @ 1 0 ,3 0 1 0 ,2 1 @ 1 0 ,3 1 1 0 . 1 2 ®
1 0 .2 6 — 1 0 .2 8 1 0 .3 4 — 1 0 .3 5 1 0 .3 0 — 1 0 .3 1 1 0 .2 6 — 1 0 .2 8 1 0 .2 0 — 1 0 .2 1 1 0 .1 5 —

1 0 .0 9
1 0 .0 9
1 0 .1 9
1 0 .1 6

1 0 .3 5 (5 ! 1 0 .3 8 1 0 .3 9 ® 1 0 .4 2 1 0 .3 7 ® 1 0 .4 5 1 0 .3 2 @ 1 0 .3 9 1 0 .3 0 @ 1 0 .4 0 1 0 .2 .3 ® .1 0 .2 8
1 0 .3 3 — 1 0 .3 4 1 0 .4 1 — 1 0 .4 3 1 0 .3 7 — 1 0 .3 9 1 0 .3 3 — 1 0 .3 5 1 0 .3 0 — 1 0 .3 1 1 0 .2 6 — 1 0 .2 7
O ct.—
R a n g e 1 0 .3 7 (5 5 1 0 .4 1 1 0 . 4 2 ® 1 0 .4 7 1 0 . 3 9 ® 1 0 .4 9 1 0 . 3 7 @ 1 0 . 4 3 1 0 .3 8 ® 1 0 .4 7 1 0 . 2 9 @ 1 0 . 3 4
C lo s in g 1 0 .3 8 — 1 0 .3 9 1 0 .4 7 — 1 0 .4 8 1 0 .4 1 — 1 0 .4 2 1 0 .3 9 — 1 0 .4 0 1 0 .3 8 — 1 0 .3 9 1 0 .3 2 — 1 .0 .3 3
N ov. —
@ 1 0 .4 4 1 0 .4 2 ® :1 0 .4 .3 1 0 3 4 @ 1 0 3 6
@
— 1 0 .4 4 ® 1 0 .4 6 —
R ange —
(«1 — —
C lo sin g 1 0 .3 8 — 1 0 .4 0 1 0 .4 8 — 1 0 .5 0 1 0 .4 2 — 1 0 .4 4 1 0 .4 0 — 1 0 .4 2 1 0 .4 2 - 1 0 .4 3 1 0 3 4 — 1 0 3 6
D ec . —
R a n g e 1 0 .4 4 (5 )1 0 .4 7 1 0 .4 8 @ 1 0 .5 5 1 0 .4 7 ® 1 0 .5 6 1 0 .4 4 ® 1 0 .5 0 1 0 .4 6 ® 1 0 .5 5 1 0 .3 7 @ 1 0 .4 2
C lo sin g 1 0 .4 4 — 1 0 .4 5 1 0 .5 4 — 1 0 .5 5 1 0 .4 8 — 1 0 .4 9 1 0 .4 6 — 1 0 .4 7 1 0 .4 7 — 1 0 .4 8 1 0 .4 0 — 1 0 .4 1
Jan. —
R a n g e 1 0 .'4 8 (7 ® 1 0 .5 1 1 0 . 5 3 ® 1 0 . 6 0 1 0 . 5 0 ® 1 0 . 6 0 1 0 . 4 8 ® 1 0 . 5 4 1 0 . 5 2 ® 1 0 . 5 8 1 0 .4 1 @ 1 0 . 4 6
C lo s in g 1 0 .4 8 — 1 0 .4 9 1 0 5 9 — 1 0 .6 0 1 0 .5 1 — 1 0 .5 2 1 0 .5 0 — 1 0 .5 1 10 .5 1 — 10 .5 2 1 0 .4 4 — 1 0 .4 5
F eb . —
—
@
—
@
— —
@
—
@
—
R ange —
@
—
©
1 0 .5 2 — 1 0 .5 4 1 0 .4 5 — 1 0 .4 7
b fl
C lo sin g 1 0 .4 9 — 1 0 .5 1 1 0 .6 0 — 1 0 .6 2 1 0 .5 2 1 0 .5 4
f t M arch
R ange —
(5} — 1 0 . 6 3 ® 1 0 .0 9 1 0 . 6 2 ® 1 0 .6 8 1 0 .5 9 @ 1 0 . 6 2 I 0 . 6 3 @ 1 0 .6 9 1 0 .5 2 @ 1 0 . 5 7
C lo s in g 1 0 .5 8 1 0 .6 0 1 0 .6 8 — 1 0 .6 9 1 0 .6 2 1 0 .6 3 1 0 .6 0 1 0 .6 1 1 0 .6 2 1 0 .6 3 1 0 .5 4 1 0 .5 6
—
% A peril
Range.
@
@
@
®
—
—
@
—
w
2 2 M Calyo — s i n g
Hi j R ange —
(a)
—
@
—
—
©
— 1 0 .7 0 ® 1
@
H
---- --@ -C lo sin g
June —
R ange —
Ob
—
@
@
—
—
—
@
@
-- • --@ ---- ---- ----- -C lo sin g -01

w

Arkansas

2 3 ,5 4 3
1 6 7 ,0 6 9
1 0 4 ,2 1 9
5 3 ,9 8 2
1 9 0 ,4 9 7
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166

THE CHRONICLE.

Q U O T A T IO N S F O R M ID D L IN G C OTTON A T O T H E R
M A R K E T S .— B elow are the closing quotations o f m iddling
cotton at Southern and other principal cotton markets for
each day of the week:
C lo s in g Q u o ta tio n s f o r M id d lin g C o lto n o n —
J u ly

20.

H a l’d a y .

Galveston - _ 11 1-16
New Orleans. 11
Mobile - __ 10 %
Savannah __ 1 0 %
Charleston. _
Wilmington. 1 0 %
Norfolk .
11 %
10.90
Boston
Baltimore _ _ l l M
Philadelphia . 11.15
A u gusta..
11%
Memphis - _. 11
11
S t.!L ou is.
Houston. _. 11
Little R ock... 10%

M ond ay.

T u e s d a y . W e d ’d a y . T h u r s d ’ y .

F r id a y .

11
11
10%
10%

11
11
10%
10%

11
11
10%
10%

11
11
10%
10%

11
11
10%
10%

10%
11%
10.90
11%
11.25
11%
10%
11
11
10%

10%
11%
11.00
11%
11.25
11%
10%
11
11
10%

10%
11%
11.00
11%
11.25
11%
10%
11
11
10%

10%
11%
11.00
11%
11.25
11%
10%
11
11
10%

10%
11%
11.00
11%
11.25
11%
10%
11
11
10%

T h e clo sin g q u o ta tio n s to -d a y (F r id a y ) a t o th e r im p o r ta n t
S o u th e r n m a r k e ts w e re as fo llo w s:
L ou isv ille____11%
Montgomery _ _10 %
Nashville_____ 1 0 %

Atlanta ______ 11
Columbus, Ga.,10%
Columbus,Miss. 10%

|Natchez______ ___
IR a leig h ______ 11%
(S h reveport__ 10 11-16

N E W
O R L E A N S O P T IO N M A R K E T .— T h e h ig h est,
lo w e st a n d clo sin g q u o ta tio n s for le a d in g o p tio n s in th e N e w
O rle a n s c o tto n m a r k e t for th e p a st w e e k h a v e b e e n a s fo llo w s:
S a t ’d a y ,
J u l y 14.
J u ly —

Range
Closing___
A u g u st—
Range .
C lo s in g __
O cto b er—
Range __
Closing.
D ecem ber—
Range . . .
Closing____
J a n u a ry—
Range
Closing___
T on e—
S p o t _____
O p tion s__

June
“
“
“
“
July
“
“

1
8
15
22
29
6
13
20

T u e s d a y , W e d ’ d a y , T h u r s d ’y ,
J u l y 17. J u l y 18. J u l y 19.

F r id a y ,
J u l y 20.

11.06-.11 11.13-.26 11.24-.30 11.09-.20 11.05-.15 11.00-.05
11.12-.19 11.25-.30 11.23-.24 11.08-.10 11.05 — 11.03-.05
10.67 — 10.70-.84 10.78-.88 10.72-.82 10.74-.79 10.65-.70
10.66-.68 10.83-.85 10.78-.79 10.73-.75 10.73-.74 10.67-.69
10.32-.35 10.37-.46 10.36-.46 10.32-.40 10.35-. 43 10.26-.31
10.33-.34 10.46-.46 10.37-.38 10.35-.37 10.35-.36 10.28 —
10.34-.37 10.40-.48 10.40-.41 10.35-.43 10.37-.45 10.28-.34
10.35-.36 10.47-.48 10.40-.41 10.37-.38 10.37-.38 10.30-.31
10.41 — 10.48-.51 10.44-.53 — @ _45 10.45-.51 10.36-.40
10.41-.42 10.53-.54 10.46-. 47 10.43-.45 10.43-.45 10.37-.38
Quiet.
Steady.

R E C E IP T S
in g ta b le in d ic
p la n ta tio n s.
S ou th ern con s
w e e k ly m o v e m
c r o p w h ic h fin
W eek
en d ­
in g —

M onday,
J u l y 16.

F R
ates
T h e
u m p
e n t
a lly

Quiet.
Firm.

Steady.
Easy.
Steady. Ba’ly s’y

Q uiet.
Easy.

Quiet.
Ba'ly s’y

O M T H E P L A N T A T I O N S .— T h e fo llo w ­
the actu al m o v e m e n t each w eek fro m the
fig u re s d o n o t in c lu d e o v e r la n d re c e ip ts n o r
tio n ; th e y are sim p ly a sta te m e n t of th e
fro m th e p la n ta tio n s of th a t p a rt of th e
reach es th e m a rk et th ro u gh the ou tp orts.

R e c e ip ts a t the P o r t s .

S to ck at In te r io r T o w n s. R e c e ip ts fr o m P l a n l a V n s .

1906.

1905.

1904.

1906.

1905.

1904.

1906.

1905.

77.7S6
56,264
29,858
31,573
30,637
25,068
27,440
25.601

130,614
101,681
78,546
68,274
72,894
62,152
81.598
104,182

20,445
14,448
13,504
13,995
17,374
10,483
9,903
14,770

270,787
249.359
229,409
213,392
197,576
1S6.428
176,752
158,701

300,511
272,709
250,895
237,733
217,299
201,550
189,617
176,666

150,498
138,044
129,899
116,496
107,903
97,160
89,129
79,865

57,295
34,836
9,908
15,556
14,821
13,920
17,764
7,550

100,299
73,879
56,732
55,112
52,460
46,403
69,665
91,231

1904.
8,440
1,994
5,359
592
8,781
1,872
5,506

T h e a b o v e s ta te m e n t sh o w s : 1 .— T h a t th e to ta l re c e ip ts
fr o m th e p la n ta tio n s sin ce S e p t. 1 1 9 0 5 a re 7 ,6 7 9 ,8 7 7 b a le s;
in 1 9 0 4 -0 5 w e re 9 ,7 9 2 ,8 2 7 b a le s; in 1 9 0 3 -0 4 w e re 7 ,1 5 8 ,2 1 9
b a les.
2 .— T h a t a lth o u g h th e receip ts a t th e o u tp o rts th e p a st
w e e k w e re 2 5 ,6 0 1 b a le s, th e a c tu a l m o v e m e n t fr o m p la n ta ­
tio n s w a s 7 ,5 5 0 b a le s, th e b a la n c e b e in g ta k e n fr o m sto c k s a t
in terior to w n s. L a s t y e a r receip ts fro m th e p la n ta tio n s for th e
w e e k w e re 9 1 ,2 3 1 b a le s a n d for 1 9 0 4 th e y w e re 5 ,5 0 6
b a le s.
C O T T O N I N P O R T U G A L .— F ro m in form
to th e D e p a rtm e n t of C o m m e rc e a n d L ab o r
P a g e B r y a n , U . S . M in ister to P o rtu g a l, w e
in g , w h ic h is fr o m a n a rticle p u b lis h e d in
N o ticias” of L isb on .

a tio n fu rn ish ed
b y M r . C h a rle s
cu ll th e fo llo w ­
th e “ D ia rio d e

The decree of March 20, now in force, outlines the establishment in
Portugal of an institution similar to those in England, France, Germany
and Italy, which shall take upon itself the duty of promoting and en­
couraging cotton culture in the colonies, as the cultivation of cotton there
has been nearly forgotten. With new, well-chosen seed stock, in wellcultivated and accessible lands set apart for the purpose, and with the
selection of seeds and the constant perfection of the growing process,
there can, in the shortest time compatible with the difficulties to be over­
come, be furnished at least raw material enough to supply all the wants
of the national factories— raw material, which, roughly speaking, repre­
sents an annual value of 4,000 to 5,000 contos ($4,080,000 to $5,080,000)
now paid to America, the chief producing country, and to Brazil, whence
about a fourth of our imports comes.
Two most worthy institutions were recently founded in Lisbon, each
of which now has a membership of over 1,000, which shows the possi1iiity of solving great problems by a combination of forces and eager
minds, and how the necessary capital may be obtained by a little offering

[VOL. L XXXIII.

from each. The example of the foreign associations removes'all doubts
which rnay arise concerning the possibility of promoting and successfully
rivaling America in cotton culture.
When the most suitable district has been carefully selected, our atten­
tion will be directed to all the lands included within that district; where
there are no traces whatever of cotton there exist to-day experimental
stations skilfully directed, whose importance increases each year in
proportion to the bringing of new lands under cultivation, apd the en­
largement of the plantations as far as the capital stock will permit.
In Portugal two years have been wasted in discussing matters, and the
uncertainties and delays which characterize our official way of doing
business would have kept things thus until to-day if the initiative of the
ex-Minister of the Colonies, cutting all these knots and complications,
had riot settled the matter by his decree of March 20. In spite of the
delay in the official undertakings, it is certain that something has been
done during these last two years. I have already stated that the Province
of Angola cultivated and exported cotton on an important scale, which
even in some years reach d 800,000 kilos, worth 240,000 milreis (m ilreis=
81 08 American), then degenerating into complete-abandonment of the
industry, the minimum of 400 milreis being reach'd in the figures for
the entire crop of 1903. In 1904 Angola increased her exportation of
cotton to 38,000 kilos, worth 12,000 milreis, and in 1905 106.000 kilos,
worth 32,000 milreis, were exported, while during the months of January
and February of this year (1906) the figures were 20,000 kilos, worth
6,000 milreis. On the east coast, where nothing had been raised before,
5,538 kilos, worth 1,600 milreis, came to the metropolis in 1905, in addi­
tion to the 60,455 kilos, worth 18 000 milreis, exported to England.

C O T T O N IN P E R S IA A N D B O R N E O .— F ro m “ D a ily
C o n su la r a n d T r a d e R e p o r ts ” issu ed b y D e p a r tm e n t o f
C o m m e rc e a n d L a b o r w e h a v e th e fo llo w in g :
Persia produces about 13,000 tons of cotton per annum, which is ex­
ported to Russia. It is cheaper than American cotton and is unaffected
by speculation. At least that is the report of a British trade paper.
There are certain factories in Russia specially adapted for the use of
Persian cotton, but complaints are made that the varieties are mixed and
sold in parcels of doubtful quality, often adulterated with seed.
The British Imperial Institute made an examination of some cotton
grown in North Borneo and reported that the cotton was of a fairly even
cream color, rather coarse and harsh to the touch, curly and an average
long fibre, but contained a small proportion of shorter fibres. The unginned cotton yielded approximately 27% of lint. The commercial ex­
perts reported that the ginned cotton was very clean, but of short, rough
staple, and worth a little less per pound than “ middling American” cotton.
It is said that the cotton is capable of considerable improvement, and
efforts are being made to induce the natives of North Borneo to cultivate
it on a more extensive scale.

W E A T H E R R E P O R T S B Y T E L E G R A P H .— T e le g ra p h ic
rep o rts to u s fr o m th e S o u th th is e v e n in g in d ica te th a t ra in
h a s b e e n q u ite gen eral d u rin g th e w e e k a n d th a t in p o r tio n s
of th e A tla n tic a n d G u lf S ta te s a n d T e x a s th e p re c ip ita tio n
h as b een h ea v y . A few of ou r co rresp on d en ts co m p la in th a t
e x c e ssiv e m o is tu r e is c a u s in g d a m a g e to c o tto n a n d in s e c ­
tion s of A la b a m a s o m e lo w la n d s are re p o rte d to h a v e b e e n
o v e r flo w e d . O th e r s s ta te th a t th e c r o p is p r o g r e s s in g w e ll.
Galveston, Texas.— E x c e s s i v e r a i n s a r e c l a i m e d t o b e
ca u sin g d a m a g e in p o r tio n s o f T e x a s , a n d re p o rts o f b o llw e e v ils a n d s h e d d in g a re in cre a sin g . T h e r e h a s b e e n e x ­
cessiv e ra in o n fo u r d a y s o f th e w e e k , th e ra in fa ll b e in g fo u r
in ch es a n d tw o h u n d re d th s. A v e r a g e th e r m o m e te r 8 0 ,
h ig h est 9 0 a n d lo w e st 70.
Abilene, Texas.— I t r a i n e d o n f o u r d a y s d u r i n g t h e w e e k ,
th e p re c ip ita tio n r e a c h in g o n e in c h a n d six h u n d r e d th s.
T h e th e rm o m e te r h a s a v e ra g e d 8 0 , th e h ig h est b ein g 94 a n d
th e lo w e st 66.
Brenham, Texas.— T h e r e h a s b e e n e x c e s s i v e r a i n o n f o u r
d a y s d u rin g th e w e e k , th e p re c ip ita tio n r e a c h in g fo u r in c h e s
a n d sev en ty -o n e h u n d red th s. T h e th e rm o m e te r h as av er­
ag ed 82, ran gin g fro m 72 to 92.
Corpus Christi, Texas.— T h e r e h a s b e e n n o r a i n d u r i n g t h e
w eek . T h e th erm o m eter h as ran ged fro m 76 to 94, av erag­
in g 85.
Cuero, Texas.— T h e r e h a s b e e n r a i n o n o n e d a y t h e p a s t
w e e k , th e ra in fa ll b e in g tw e lv e h u n d r e d th s o f a n in c h . A v e r ­
a g e th e r m o m e te r 8 6 , h ig h e st 1 0 0 , lo w e st 71.
Dallas, Texas.— W e h a v e h a d r a i n o n o n e d a y o f t h e p a s t
w e e k , th e ra in fa ll r e a c h in g n in e ty -fiv e h u n d r e d th s o f a n in c h .
T h e th e rm o m e te r h a s a v e ra g e d 8 9 , th e h ig h est b ein g 97 a n d
th e lo w e st 70.
Fort Worth, Texas.— T h e r e h a s b e e n r a i n o n t h r e e d a y s th e p a st w e e k , to th e e x te n t of six ty -fo u r h u n d r e d th s o f a n
in ch . T h e th e r m o m e te r h a s a v e ra g e d 8 9 , r a n g in g fro m
72 to 96.
Henrietta, Texas.— W e h a v e h a d r a i n o n t w o d a y s d u r i n g
th e w e e k , th e p re c ip ita tio n re a c h in g six ty -n in e h u n d r e d th s
of an in ch . T h e th e rm o m e te r h a s ra n g ed fro m 81 to 9 5 ,
av era g in g 87.
Huntsville, Texas.— W e h a v e h a d r a i n o n t h r e e d a y s d u r ­
in g th e w e e k , th e ra in fa ll b e in g s ix ty -s ix h u n d r e d th s o f a n
in c h . A v e r a g e th e r m o m e te r 8 2 , h ig h est 9 3 , lo w e st 7 1 .
Kerrville, Texas.— T h e w e e k ' s r a i n f a l l h a s b e e n o n e i n c h
a n d fifty h u n d r e d th s , o n th re e d a y s . T h e th e r m o m e te r h a s
a v e ra g e d 8 4 , th e h ig h est b e in g 9 7 a n d th e lo w e st 70.
Lampasas, Texas.— I t h a s r a i n e d o n f i v e d a y s o f t h e w e e k ,
to th e e x te n t of o n e in ch a n d th irty -six h u n d re d th s. T h e
th e rm o m e te r h a s av era g ed 83, ran gin g fro m 68 to 98.
Longview, Texas.— D r y a l l t h e w e e k .
T h e th erm om eter
h as ran ged fro m 72 to 99, av eragin g 86.
Luting, Texas.— T h e w e e k ’ s p r e c i p i t a t i o n h a s b e e n t w o in ch es a n d fo rty -n in e h u n d re d th s, o n th ree d a y s. A v e r ­
a g e th e r m o m e te r 8 6 , h ig h e st 9 8 a n d lo w e st 7 3.
Nacogdoches, Texas.— T h e r e h a s b e e n r a i n o n o n e d a y o f

THE CHRONICLE.

J u l y 21 i 906.!

th e p a st w e e k , th e p re c ip ita tio n re a c h in g e le v e n h u n d r e d th s
of a n in ch . T h e th e r m o m e te r h a s a v e ra g e d S 2, ra n g in g fro m
10 t o 9 4 .
P a le s tin e , T e x a s . — T h e r e h a v e b e e n s h o w e r s o n o n e d a y
of th e w e e k , th e p re c ip ita tio n re a ch in g fo u rte e n h u n d r e d th s
of an in ch . T h e th e r m o m e te r h a s a v e ra g e d 8 1 , ra n g in g fro m
72 to 90.
P a r is , T e x a s . — W e h a v e h a d s h o w e r s o n t w o d a y s d u r i n g
th e w e e k , th e p re c ip ita tio n re a c h in g e le v e n h u n d r e d th s of
a n in ch . T h e th e r m o m e te r h a s ra n g e d fro m 6 9 to 9 3 , a v e r­
ag in g 84.
San Antonio, Texas.— W e h a v e h a d s h o w e r s o n t w o d a y s
d u r in g th e w e e k , th e ra in fa ll b e in g six h u n d r e d th s o f a n in c h .
A v e r a g e th e r m o m e te r 8 4 . h ig h est 9 6 , lo w e st 7 2.
W ea th erfo rd , T e x a s . — W e h a v e h a d e x c e s s i v e r a i n o n t h r e e
d a y s d u rin g th e w e e k , th e p re c ip ita tio n re a c h in g tw o in ch e s
an d tw e n ty -six h u n d red th s. T h e th e rm o m e te r h as av er­
a g e d 8 5 , th e h ig h est b e in g 101 a n d th e lo w e st 6 9 .
X e w O rlea n s. L o u is ia n a .— T h e r e h a s b e e n r a i n o n f i v e d a y s
d u r in g th e w e e k , to th e e x te n t o f tw o in ch es a n d n in e ty -th r e e
h u n d redth s. T h e th erm om eter has averaged 81.
S h rev ep o rt , L o u is ia n a . — R a i n h a s f a l l e n o n o n e d a y o f t l i e
w e e k , th e ra in fa ll b e in g tw e lv e h u n d r e d th s o f a n in c h . T h e
th e rm o m e te r h a s ran ged fro m 71 to 96.
L ela n d , M is s i s s ip p i. — T h e r e h a s b e e n r a i n o n f i v e d a y s o f
th e w e e k , th e p re c ip ita tio n re a ch in g tw o in ch e s a n d se v e n ty fo u r h u n d re d th 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 6 ,4 , th e
h ig h est b e in g 8 9 a n d th e lo w e st 6 5
V ick sb u rg , M is s i s s ip p i. — T h e r e h a s b e e n r a i n o n s i x d a y s
d u r in g th e w e e k , th e ra in fa ll r e a c h in g fifty -s e v e n h u n d r e d th s
of a n in ch . T h e th e rm o m e te r h a s a v e ra g e d 8 0 , ra n g in g fro m
71 to 92.
H e len a , A r k a n s a s . — C o t t o n i s b e i n g l a i d b y i n s p l e n d i d
co n d itio n . T h e re h a s b e e n rain lo ca lly o n th ree d a y s of
th e w e e k , th e p re c ip ita tio n b e in g th re e in ch e s a n d six ty tw o h u nd redth s.
M e m p h is , T en n essee. — F i r s t o p e n b o l l o f t h e s e a s o n r e ­
ceived to -d a y fro m C la y C o u n ty , A rk a n sa s, tw e n ty -o n e d a y s
e a r l i e r t h a n l a s t y e a r a n d t e n d a 3r s a h e a d o f t h e a v e r a g e d a t e .
C ro p s are m a k in g e x c e lle n t p ro g ress. T h e r e h a s b e e n ra in o n
fo u r d a y s o f th e w e e k , th e ra in fa ll b e in g th re e in c h e s a n d
tw en ty -six h u n d red th s. T h e th e rm o m e te r h as ran ged fro m
6 6 .5 to 8 7 , a v e r a g in g 7 6 .7 .
X a sh v ille, T e n n essee. — R a i n h a s f a l l e n d u r i n g t h e w e e k ,
th e ra in fa ll b e in g o n e in c h a n d th ir ty h u n d r e d th s . T h e
th e rm o m e te r h as ran ged fro m 65 to 88 , av eragin g 77.
M o b ile , A la b a m a . — H e a v y t o e x c e s s i v e r a i n s i n t h e i n t e r i o r
m o s t o f th e w e e k , b u t w e a th e r fa ir y e s te r d a y a n d to -d a }r.
C ro p rep o rts are g e n e ra lly fa v o ra b le b u t th ere are so m e
c o m p la in ts o f g r a s s y fie ld s a n d to o m u c h r a in . R a in h e r e
o n six d a y s a n d th e p re c ip ita tio n h a s b e e n o n e in ch a n d
sev en ty -o n e h u n d red th s. A v e ra g e th e rm o m e te r 8 0 , h ig h ­
est 8 7 a n d lo w e st 72.
Montgomery, Alabama.— C o n t i n u e d h a r d r a i n s d u r i n g t h e
w e e k h a v e ca u se d m u c h d ete rio ra tio n o n p ra irie a n d b o tto m
la n d s . U p la n d s a s a ru le are d o in g w e ll b u t m u c h b o t t o m
la n d h a s b e e n o v e rflo w e d . T h e re h a s b e e n rain o n six
d a j ’S d u r i n g t h e p a s t 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 f iv e
in ch es a n d tw o h u n d re d th s. T h e th e r m o m e te r h a s a v era g ed
7 9 . th e h ig h e st b e in g 9 0 a n d th e lo w e st 7 0 .
Selma, Alabama.— C o m p l a i n t o f t o o m u c h r a i n i n l o w l a n d s .
I t h a s r a i n e d o n f i v e d a j Ts o f t h e w r e e k , t h e p r e c i p i t a t i o n
rea ch in g th ree in ch es a n d six ty h u n d re d th s. T h e th er­
m o m e te r h a s a v e ra g e d 8 5 , ran gin g fro m 7 2 to 97.
Madison, Florida.— W e h a v e h a d r a i n o n s i x d a y s d u r i n g
th e w e e k , th e ra in fa ll b e in g th r e e in c h e s. T h e th e r m o m e te r
h as ran ged fro m 70 to 86, av eragin g 78.
Augusta, Georgia.— T h i s w e e k ’ s r a i n f a l l h a s b e e n f i v e
in ch es a n d th irty -se v e n h u n d re d th s, o n fou r d a y s. A v e r a g e
th e r m o m e te r 7 8 , h ig h est 8 8 a n d lo w e st 7 0 .
Savannah, Georgia.— T h e r e h a s b e e n r a i n o n f o u r d a y s
d u rin g th e w e e k , th e p re c ip ita tio n re a c h in g six ty -fo u r h u n ­
d red th s of a n in ch . T h e th e r m o m e te r h a s a v e ra g e d 8 0 , th e
h ig h est b e in g 8 9 a n d th e lo w e st 7 1 .
Charleston, South Carolina.— W e h a v e h a d r a i n o n f i v e d a y s
d u rin g th e w e e k to th e e x te n t of th ree in ch es. T h e th er­
m o m e te r h as ran ged fro m 72 to 88, av eragin g 80.
Greenwood, South Carolina.— R a i n h a s f a l l e n o n f o u r d a y s
o f th e w e e k , th e ra in fa ll b e in g tw o in c h e s a n d n in e ty -th r e 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 6 , h ig h e st 8 4 , lo w e st
68.

W O R L D ’S S U P P L Y A N D T A K I N G S O F C O T T O N . —
T h e fo llo w in g b rie f b u t c o m p r e h e n s iv e s ta te m e n t in d ic a te s
a t a g l a n c e t h e w o r l d ’s s u p p l y o f c o t t o n f o r t h e w e e k a n d
s in c e S e p t. 1 , fo r th e la s t t w o s e a s o n s , fr o m all s o u r c e s fr o m
w h ic h sta tistics are o b ta in a b le ; also th e ta k in g s, or a m o u n t
g o n e o u t o f s ig h t, fo r th e lik e p e rio d s.

is b a d l y
th e p ast
u nd redth
h est b ein

n e e d e d . T h e re h a s b e e n rain o n fo u r
w e e k , th e ra in fa ll b e in g tw o in c h e s a n d
s. T h e th erm om eter has averaged
g 9 0 a n d th e lo w e st 6 7 .
Charlotte, Xorth Carolina.— W e h a v e h a d r a i n d u r i n g t h e
w e e k to th e e x te n t of th ree in ch es a n d th irty -e ig h t h u n ­
d red th s. T h e th e rm o m e te r h as av era g ed 7 7 , ran gin g fro m
68 to 86.
T h e fo llo w in g s ta te m e n t w e h a v e also re ce iv e d b y tele­
g r a p h , sh o w in g th e h e ig h t o f rivers a t th e p o in ts n a m e d ,
a t 8 a. m . of th e d a tes g iv en :
J u ly

New Orleans.............. Above
M em phis___________ Above
Nashville ................... Above
Shreveport-.............. Above
Vicksburg ................. Above

zero
zero
zero
zero
zero

of gauge.
of gauge.
of gauge.
of gauge.
of gSuge.

20 1906.
F ee t.

5.8
11.7

11.2
7.2
17.9

J u ly

21 1905.
F ee t.

13.4
21 9
9.1

22.0
32.8

1905-06.

Cotton Takings
Week and Season.

TVe e k .

1904-05.

S ea son .

W eek.

2,721,428

Visible supplv July 13_____

2,545,470
57,359 10,678,309
6,000 2,525,000
11,000
349,000
100
783,300
10.000
470,000

American in sight to July 2 0 ..
Bombay receipts to July 1 9 ..
Other India ship’ts to July 19.
Alexandria receipts to July IS
Other supply to July 18_a------

S ea son .

3,209,793
1,123,887
147,092 13,015,508
30,000 2,613,000
8,000
288,000
1,100
830,000
4,000
172,000

Total supply--------------------- 2,805 887 17,351,079 3,399,985 18,042,395
D e d u ct—
Visible supply July 2 0 . . . . . 2,548 042 2,548,642 3,132,763

Total takings to July 2 0 .. .
Of which American _____
Of which other . __
a

257,245 14,802 437
163,145 10,934,137
94 100 3,868,300

3,132,763

207,222 14,909,632
182,122 11,549,032
85,100 3,360,000

Embraces receipts in Europe from Brazil, Smyrna, West Indies, &c,

E G Y P T I A N C O T T O N C R O P .— M essrs. C h o rem i, B en ach i
& C o . o f A le x a n d r ia w rite u n d e r re ce n t d a te as fo llo w s:

The crop is about two weeks backward, but the weather is favorable,
and the plant in a healthy condition. The critical period, however, has
yet to be passed. The greatest damage last year was undoubtedly done
during August and September by the boll worm, and with every promise
of a 7,000,000 eantar crop it has turned out very disappointing, with re­
ceipts to date well under six million.

IN D IA C O T T O N M O
T h e receip ts o f c o tto n a t
In d ia p orts for th e w eek
three years h a v e b een as
J u ly

V E M E N T F R O M A L L P O R T S .—
B o m b a y a n d th e s h ip m e n ts fr o m all
a n d for th e sea so n fro m S e p t. 1 for
fo llo w s:

1905-06.

19.

R e c e ip ts a t—
W eek.

Bom bay________

1904-05.

S in c e
S e p t . 1.

W eek.

1903-04.

S in c e
S e p t . 1.

S in c e
S e p t . 1.

W eek

6,000 2,525,000 30,000 2,613,000

F o r th e W e e k .
E x p o r ts fro m

5,000 2,091,000

S in c e S ep tem b er

—G rea t
B rita in .

Bombay—
1905-06_______
1904-05_______
1903-04_______
Calcutta—
1905-06_______
1904-05_______
1903-04_______
Madras—
1905-06.— ___
1904-05_______
1903-04_______
All others—
1905-06_______
1904-05_______
1903-04_______
Total all—
1905-06_______
1904-05_______
1903-04_______

1,000
1,000
1,000

C o n ti­
n e n t.

T o ta l.

5,000
4,000
13,000 14,000
2,000
2,000

G rea t
B r ita in .

C o n ti­
n e n t.

T o ta l.

57,000
21,000
94,000

845,000
399,000
857,000

902,000
420,000
951,000

7,000
3,000
4,000

111,000
39,000
45,000

118,000
42,000
49,000

43,000
14,000
36,000

46,000
17,000
47,000

165,000
219,000
254,000

185,000
229,000
273,000

1 ,000

2,000

2,000

2,000

2,000

2,000

1,000

2,000

3,000

3,000
3,000
11,000

1,000

6,000
8,000
7,000

7,000
8,000
7,000

20,000
10,000
19,000

. . . .

3,000 13,000 16,000
1,000 21,000 22,000
1,000 13,000 14,000

1.

87,000 1,164,000 1,251,000
37,000 671,000 708,000
128,000 1,192,000 1,320,000

A c c o rd in g to th e fo re g o in g , B o m b a y a p p e a rs to sh o w a
c o m p a r e d w i t h l a s t y e a r i n t h e w e e k ’s r e c e i p t s o f
2 4 .0 0 0 b a le s . E x p o r t s fr o m all I n d ia p o r ts r e c o r d a lo ss o f
6 .0 0 0 b a le s d u r in g th e w e e k a n d sin ce S e p t. 1 s h o w a n
in crea se o f 5 4 3 , 0 0 0 b a l e s .
A L E X A N D R I A
R E C E IP T S A N D
S H IP M E N T S O F
C O T T O N .— T h r o u g h a rra n g e m e n ts m a d e w ith M essrs.
C h o r e m i , B e n a c h i & C o . , o f L i v e r p o o l a n d A l e x a n d r i a , w Te
n o w receiv e a w e e k ly ca b le o f th e m o v e m e n ts o f c o tto n a t
A le x a n d ria , E g y p t. T h e fo llo w in g are th e receip ts a n d
sh ip m e n ts for th e p a st w e e k a n d for th e co rre sp o n d in g w e e k
of th e p rev iou s tw o years:
d ecrease

A le x a n d r ia , E g y p t ,
J u l y 18.'

(cantars a )—
This week
_____
Since Sep.. 1 . ...........

j
1905-06.

1904-05.

1903-04.

1,000
5,875,020

8,500
6,225,637

400
6,460,062

R ece ip ts

Stateburg, South Carolina.— W e a r e h a v i n g t o o m u c h r a i n ;

d ry w eather
d a y s d u rin g
six ty -fiv e h
7 8 .5 , th e h ig

107

.»•
E x p o rts

To
To
To
To

(bales)—

Liverpool___ ___
Manchester______
Continent..............
America__________

Total exports ...........
a

T h is
w eek.

S in c e
S e p t . 1.

2,000 t on, i v
171 ,006
3,000 324,783
300 69,377

T h is
w eek.

■* •»
S in c e
S e p t . 1.

.

it.

T h is
w eek.

S in c e
S e p t.'l.

221,559
152,499
325,723
73,794

231,689
135,176
2,750 346,741
52,267

6,300 765,605 18,000 773,575

2,750 765,873

3.250
6.250
6.250
2.250

A eantar is 98 lbs.

T h is sta tem en t sh o w
1 ,0 0 0 fa n fa r e a n d th e
J U T E B U T T S , B A
b a g g in g h as co n tin u ed
u n c h a n g e d a t 8 % c . for
grades. Jute b u tts a
I q u a lity .

s th a t th e receip ts for th e w e e k w ere
foreign s h ip m e n ts 5 ,3 0 0 b a le s.
G G I N G , & c .— T h e m a r k e t fo r ju te
v e r y d u ll th e p a s t w e e k , w ith p rice s
1T
,/ s l b s . a n d O p g c . f o r 2 l b s . , s t a n d a r d
lso v e r y d u ll a t 3 @ 4 c . fo r b a g g in g

THE CHRONICLE

168

M A N C H E S
ca b le to -n ig h
c o n tin u e s firm
for b o th In d ia
to -d a y b e lo w
a n d la st y e a r

32s C o p .

T E R
M A R K E T .— O u r report
t fro m M a n ch ester states th a
for y a r n s a n d q u ie t for sh irtin g s
a n d C h in a is i m p r o v in g . W e g iv
a n d le a v e th o se for p re v io u s
for co m p arison :
1906.
8 'A lbs.

S hirt­
in g s, com m on
to Jinest.

T w ist.

J ’ ne d.
15 9 %
®
2?, 9 4
29 9K
July
6 m
13 9 5-10 m
20 9%
@

d. s. d.

s.
1014 6 8 @9
104, 6 8 @9
10^ 6 8 <^9
10K 6 8 @9
io G 6 8 (a)9
10% 6 8 @9

32s C op
T w ist.

d. d.
6.07 7 11-16®
6.12 8
6.10 m
©
6.08 m
@
6.12 9
®
6.07 9
@

d.
9
9
9
9
9
9

received b y
the m ark et
. T h e d em a n d
e th e p rices for
w e e k s o f th is
t

20—
Savannah_____________
Charleston.... ........ .........
Florida, &c____________

----- 1905-06.------

------1904-05.----------------- S tock — -—

T h is
w e ek .

T h is
w e ek .

S in c e
S e p t.l.

11
9
108
128

Total_______________

63,338
13,702
42,080
119,120

T h e e x p o rts for th e w e e k
of 4 6 b a le s, of w h ic h 4 6
_ _ _ to F ran c e a n d _ _ _ _ to
w a r d e d to N o r th e r n m ills
th e exp o rts for th e w e e k
1 9 0 4 -0 5 :

___
___
___
___

S in c e
S e p t. 1.

52,100
12,089
32,697
96,886

Total _____________

13,066
---------46
692
. . . . 12,459
___
4,527
___
100

----___
___
___
___

46

Total 904-05______________

1906.
1,704
11
___
1,715

1905.
2,322
422
192
2,936

e n d in g th is e v e n in g re a ch a to ta l
b a le s w e re to G re a t B rita in ,
B re m e n , a n d th e a m o u n t for­
h a s b e e n 7 2 b a le s. B e lo w are
a n d sin ce S e p t. 1 1 9 0 5 -0 6 a n d

W e e k en d'g J u ly 20
S in c e S e p t. 1 1905.
G r ea lF r'n ce,
G reat
F r ’ n ce,
B r it’ n & c . T o ta l. B r i l ’ in
& c.
T ota l.

E x p o r ts from —
Savannah------------------------Charleston, &c------------------Florida, &c___________
46
New York________________
Boston___________________
Philadelphia_______________

6,176
-----____
2,891
____
____

19,242
-----692
15,350
4,527
100

25

46 30,798 9,067 39,865

164

164 29,758 7,485 37,243

N o rth ern M ills
S in c e
W e e k . S e p t. 1.

38,884
10 5,063
62 33,827
___ _____
___ _____
___ _____

P IN G N
of cotton
2 3 ,7 1 0 b
il a n d te

E W S .
from
a le s.
le g ra p

— A
th e
T h
h ic

s sh ow n on a
U n ited S tates
e sh ip m e n ts in
retu rn s, are as

72

p rev iou s p a g e, th e
th e p ast w eek h a ve
d eta il, as m a d e u p
fo llo w s:

Total__________________________________ ______ ______________ 23,710

T o t a l......... 6,847

G erm any.

•
— Oth. . E u r o p e —
N o rth .

S o u th .

500

700
4,233
___
____
____

____
—

865
950
348
___
3,695
____
___
837

___
____
202
____
____
—

4,093

6,695

702

W ed .

M e x .,
& c. J a p a n .

300
__
__
__
__

____
—

140
...

4,933

440

...

__
__
__

...

T o ta l.

3,761
5,743
5,109
2,350
3,897
262
238
2,350

23,710

T h u rs.

F r i.

13
15
18
18
20
15
21
27

13
15
18
18
20
15
21
27

22
18
32
55

22
18
32
55

6.
38,000
2,000

20.
36,000
2,000
1,000
29,000
7,000
67,000
612,000
501,000
28,000
11,000
67,000
50,000

13.
33,000
2,000
2,000
27,000
7,000
60,000
658,000
548,000
21,000
8,000
79,000
54,000

J u ly

J u ly

J u ly

32,000
5,000
82,000
704,000
599,000
45,000
39,000
70,000
40,000

T h e to n e o f th e L iv -e rp o o l m a r k e t fo r s p o ts a n d fu tu r e s
e a c h d a y o f th e p a st w e e k a n d th e d a ily clo sin g p rices of
sp o t c o tto n h a v e b e e n a s fo llo w s:
S p o t.

Market 1
12:15 f
P. M. J
Mid.Upl’ds

S a tu rd a y.

M onday.

T u esd ay.

W ed 'd a y .

T h u rsd a y.

F r id a y .

Quiet.

Quiet.

Quiet.

Quiet.

Moderate
demand.

Quiet.

6.12
6.10
6,000
6,000
500
500
Quiet at Quiet at
1 2@3 pts. 2 points
J decline.
decline.
1 Quiet at Quiet ,unch
2@3 pts. ® 1 pt.
decline.
1 decline.

Sales____
Spec.&exp.
F u tu r e s .

Market
opened

P.M.

T h e p a rticu la rs o f th e fo re g o in g sh ip m e n ts fo r th e w e e k ,
a r r a n g e d in o u r u su a l fo r m , a re as fo llo w s:
163
__
1,580
2,350

J u n e 29.
Sales of the week _ . . bales . 35,000
Of which exporters took. . 1,000
Of which speculators took 1,000
Sales American. _______ - 31,000
Actual export _ . . . . . . 1 0 , 0 0 0
Forwarded . _ ___
. - 50,000
Total stock— Estimated__ .746,000
Of which American— Est .638,000
Total import of the w eek .. . 39,000
Of which American_____ . 31,000
Amount afloat __
_____ . 75,000
Of which American_____ - 51,000

Market

T o t a l b a le s .

1,233
New York
560
New Orleans.
Galveston — 3,181
Pensacola . .
Savannah __
262
NewportNews
98
Boston _ __
B altim ore__ 1,513

T u es.

w e h a ve the
f o l l o w i n g s t a t e m e n t o f t h e w e e k ’s s a l e s , s t o c k s , & c . , a t t h a t
p ort:

77,774

NEW Y O R K — To Liverpool— July 16— Caronia, 6 foreign; Vic­
torian, 227____________________ i ------------------------------------233
To Hull— July 17— Colorado, 1,000_________________________ 1,000
To Havre—July 13— St. Laurent, 113___ July 18— La Bre­
tagne, 50 foreign_________________________________________
163
865
To Bremen— July 18— Barbarossa, 865____________________
To Rotterdam— July 14— Lottie Menzell, 100_______________
100
To Antwerp— July 13— Zeeland, 200-----------------------------------200
To Copenhagen— July 14— Nicolai II, 200---------------------------200
To Genoa— July 17— Prinz Oskar, 300; Sannio, 300_________
600
To Naples— July 17— Prinz Oskar, 100_____________________
100
To China— July 16— Verona, 300 __________________________
300
NEW ORLEANS— To Liverpool— July 18— Darien, 560________
560
950
To Hamburg— July 20— Frisia, 950-------------------------------------To Genoa—July 19— Sicilia, 4,233__________________________ 4,233
GALVESTON— To Liverpool—July 13—Yucatan, 1,609________ 1,609
To London— July 16— Cayo Soto, 1,572____________________ 1,572
To Havre— July 13— Yucatan, 1,580----------------------------------- 1,580
To Hamburg— Juiy 7— Richmond Castle, 348_______________
348
PENSACOLA— To Havre— July 17— Huttonwood, 2,350________ 2,350
SAVANNAH— To Hamburg— July 14—Jupiter, 2,037___ July
16— Liebenfels, 1,658-------------------------------------------------------- 3,695
To Gothenburg—July 16— Liebenfels, 200__________________
200
To Reval— July 16— Liebenfels, 2 __________________________
2
NEW PORT NEWS— To Glasgow— July 16— Almora, 262_______
262
BOSTON— To Liverpool— July 14— Michigan, 30___ July 17—
Sylvania, 68---- ----------------------------------.____________________
98
To St. John— July 12— Calvin Austin, 45___ July 16— Calvin
Austin, 95— --------------140
BALTIMORE— To Liverpool—July 13— Ulstermore, 1,513______1,513
To Bremen— July 18— Main, 618___________________________
618
To Hamburg— July 7— Bethania, 219_______________________
219

G rea t F r e n c h
B r ita in . p o r ts .

M on.

S a t.

595 58,436

A c o n sid e ra b le p o rtio n o f th e S e a Isla n d c o tto n sh ip p e d
to foreign p o rts g o es v ia N e w Y o r k , a n d so m e sm a ll a m o u n ts
v ia B o s to n a n d P h ila d e lp h ia . In ste a d o f in clu d in g th is
c o tto n fo r th e w e e k in w h ic h it le a v o s th e S o u th e r n o u tp o r ts ,
w e fo llo w th e s a m e p la n a s in o u r re g u la r ta b le , o f in c lu d in g
it w h e n a c tu a lly e x p o r te d fr o m N e w Y o r k , & c . T h e d e ta ils
o f th e s h ip m e n ts o f S e a Is la n d c o tto n fo r th e w e e k w ill b e
fo u n d u n d er th e h ea d of “ S h ip p in g N e w s” o n a su b seq u en t
p age.
Q u o ta tio n s J u ly 2 0 a t S a v a n n a h — F o r G e o rg ia , e x tra
fin e , 1 8 c .; c h o ic e , 1 9 c .; fa n c y , 2 2 c .
S H IP
exp orts
reach ed
from m a

T h e e x p o rts to J a p a n sin ce S e p t. 1 h a v e b e e n 1 1 0 ,4 3 9 b a le s
fr o m P a cific p o rts a n d 1 5 ,8 9 7 b a le s fr o m N e w Y o r k .
C o tto n freig h ts a t N e w Y o r k th e p a st w e e k h a v e b e e n as
fo llo w s:

Liverpool ,pmpt x. 13(5il4 13(5(14
13
13
Manchester___ c.
15
15
15
15
Havre, net_____c.
18
18
18
18
Bremen_______ c .
18
18
18
18
Hamburg______c.
20
20
20
20
1905.
A n tw erp______c.
15
15
35
15
21
21
21
21
8K lbs. S hirt­ C o l'n Ghent, v. Ant._c.
in gs, com m on
M id
27
27
Reval, indirect.c.
27
27
U p l's
to Jinesl.
Reval, v. Canal.c.
Barcelona, Aug.c.
30
22
22
30
d.
d. s . d.
s. d.
G
e n o a ________ c .
18
18
18
18
H'A 5 11 ® 8 9
4 .83
32
32
32
32
8 6 0 @8 10 ' 5.05 Trieste________ c .
5.34 Japan_________ c.
0 % 6 1K@9 0
55
55
55
55
SQuotations are cents per 100 lbs.
0.01
9 % 6 3 @9 3
5.82
6 4 ®9
m
L I V E R P O O L .— B y ca b le fro m L iv e rp o o l
9 % 6 4 @9 A'A 5.91

S E A IS L A N D C O T T O N M O V E M E N T .— W e h ave re­
ce iv e d th is (F rid a y ) e v e n in g b y te le g ra p h fro m th e v a rio u s
p o r ts th e d e ta ils o f th e S e a Is la n d c o tto n m o v e m e n t fo r th e
w e e k . T h e receip ts for th e w e e k e n d in g to -n ig h t (J u ly 2 0 )
a n d sin ce S e p t. 1 1 9 0 5 , th e sto c k s to -n ig h t a n d th e sa m e
ite m s fo r th e c o rre sp o n d in g p e rio d s o f 1 9 0 4 -0 5 , are a s fo llo w s:
R ece ip ts to J u ly

[VOL. LXXX1II.

6.13
6,000
600
Quiet at
3@4 pts.
advance.

6.10
6.07
6.11
7,000
6,000
5,000
500
500
500
Quiet at
Steady at
3 points
Steady. 3@4 pts.
decline. unckang’d. decline.

Quiet at
1@2 pts.
advance.

Steady at
2 points
decline.

Firm at Steady at
3@5 pts. 5@6 pts.
advance. decline.

T h e p rices o f fu tu re s a t L iv e r p o o l fo r e a c h d a y are g iv e n
b e lo w . P rices are o n th e b a sis o f U p la n d s, G o o d O r d in a r y
cla u se, u n le ss o th e r w ise sta te d .
T h e p r ic e s a re g iv e n in p e n c e a n d

Sat.
14.

J u ly

Mon.
16.

J u ly

100th .

T h u s:

Tues.
17.

J u ly

J u ly

5 85

Wed
IS.

m ea n s

5 85 lOOi.

Thurs.
19.

J u ly

Fri.
20.

J u ly

12M 12H 12M 4 1 2 M 4 12M 4 12M 4 12 M 4
p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m.
d.

July_____
Juljr-Aug_
Aug.-Sep _
Sep.-Oct Oct.-Nov.
Nov.-Dec.
D ec.- Jan.
Jan.-Feb..
Feb.-Mch.
Mch.-Apr.
Apr.-May.
May-June

d.

5
5
5
5
5
5
5
5
5
5
5
5

d.

84 5
81 5
74 5
68 5
64 5
63 5
63 5
64 5
66 5
68 5
69 5
70 5

84
81
74
69
65
64
64
65
67
68
69
70

d.
5

5
5
5
5
5
5
5
5
5
5
5

d.

87 5
84 5
77 5
72 5
68 5
67 5
67 5
68 5
70 5
72 5
73 5
74 5

86
83
76
70
66
66
66
67
68
70
71
72

d.
5
5

5
5
5
5
5
5
5
5
5
5

d.

84 0
81 5
74 0
68 5
64 5
63 5
63 5
64 5
66 5
68 5
69 5
70 5

d.

84 5
81 5
74 5
68 5
64 5
64 5
64 5
65 5
66 5
68 5
69 5
70 5

85 5
83 5
75 0
69 5
65 5
65 5
65 5
65 5
67 5
69 5
70 5
71 5

i.

d.

88 5
86 5
78 5
72 5
68 5
67 5
67 5
68 5
69 5
71 5
72 5
73 5

d.

81 O
79 5
71 o
66 5
62 7)
61 5
61 5
62 5
63 "5
65 5
66 5
67 5

82
80
72
66
62
61
61
62
64
66
67
68

BREADSTUFFS.
F r id a y , J u ly 2 0 1 9 0 5 .
P rice s fo r w h e a t flo u r h a v e r e m a in e d a b o u t s ta tio n a r y
d u rin g th e w e e k . T h e v o lu m e of b u sin ess h a s in crea sed
slig h tly a t tim e s , b u t o n th e w h o le th e co n d itio n o f th e m a r ­
k e t re m a in s u n sa tisfa cto ry . T h e p u rch a se s are o n ly to su p p ly
im m e d ia te re q u ire m e n ts. T h is ap p lie s to b o th old a n d n e w
flo u r. W i t h la rg e r a r r iv a ls o f n e w w in te r g r a d e s s o m e e x ­
p ect to see a n e x p a n sio n of trad e. B u t w ith crop p ro sp ects
in th e m a in fa v o r a b le in th e s p rin g -w h e a t b e lt a n d th e y ie ld
tu r n in g o u t la rg er th a n e x p e c te d in th e w in te r -w h e a t r e g io n ,
th e g e n e ra lity o f b u y e rs s h o w n o d isp o sitio n to e n te r th e
m a r k e t e x c e p t a t a d e clin e . A t th e N o r th w e s te r n m illin g
ce n tre s s o m e s m a ll lo ts o f p a te n ts a n d clea rs w e re d isp o se d
o f fo r e x p o r t. R y e flo u r h a s b e e n q u ie t a n d s te a d y . C o rn
m e a l h a s b e e n d u ll a n d s o m e w h a t easier.
W h e a t d e clin e d e a rly in th e w e e k , o w in g to la rg e receip ts,
fa v o r a b le c ro p r e p o rts a n d a g o o d d e a l o f liq u id a tio n , a s w e ll
a s n o t a little m a n ip u la tio n b jy b e a r s . B u t la tte rly p ric e s
h a v e a d v a n c e d , o w in g to u n fa v o ra b le crop n e w s fro m R u ssia
a n d th e u p risin g o f th e p e a s a n tr y th e re , re p o rts o f b la c k ru st
in S o u th D a k o t a a n d a la r g e e x p o r t d e m a n d , th u s fu lfillin g
th e exp e cta tio n s of th e tra d e w h o lo o k for a g o o d E u ro p e a n
b u sin ess th is se a so n , n o t o n ly b e c a u se of th e rep o rts o f a
d eficien t y ie ld in R u ssia b u t also b e c a u se th e n e w A m e r ic a n
w h e a t is s a id t o b e o f b e t t e r q u a lit y t h a n u s u a l. T o -d a y
p rice s w e re irre g u la r, d e clin in g e a r ly , o w in g to lo w e r fo re ig n
m a r k e t s , r u m o r s o f fin a n c ia l d iffic u ltie s in L o n d o n , la rg e

J u ly 21 1906.]

THE

receipts and more favorable weather. But later on they
rallied, owing to continued bad crop reports from Russia,
d r o u g h t in Argentina and covering of shorts.
The liberal
Chicago receipts are largely of excellent quality. The end­
ing, however, was lower, owing to liquidation, bearish pres­
sure and weakness in corn and oats.
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.
Sat. M o n .

Tues.

W ed . Thurs.

83 A, S4
84
S4
No. 2 red winter.......... .............--S4
841', 84% 83% 83%
July delivery in elevator------------S4%
S4% S3 7s S4 %
84
September delivery iiuelevator
86%
December delivery in elevator _ 86% 86.7s S6
DAILY CLOSING PRICES OF WHEAT FUTURES IN
Sat.

M on.

July delivery in elevator.............. 77%
September delivery in elevator__ 78%
December delivery in elevator____801s

78)4
78%
S0%

T ues.
77%

77%
795s

78%
80%

F r i.

84%
84
84% S3 %
S6% 86 %
CHICAGO.

W ed . Thurs.
77%
77%

78 %

so%

1G9

C H R O N IC L E .

F r i.
76%
77 Vs

79 %

Excessive cloudiness prevailed in the Southern States, but there was
ample sunshine in the central valleys. Lake region, northern portion of
the Middle Atlantic States and New England.
As in the preceding week, local storms were comparatively few and
caused very little damage.

E X PO R TS OF BREADSTUFFS, PROVISIONS, COT­
TON AND PETROLEUM .— The exports of these articles
during the month of June, and the twelve months, for the
past three years, lntA-e been as follows:
1905-06.

E x p o rts
fro m
V . S.

12

J u n e.

1904-05.

M o n th s.

12

J u n e.

1903-04.

M o n th s.

12

J u n e.

M o n th s.

Q u a n titie s .

Wheat bush.
Flour, bbls.

1,076,205
1,002,098

34,793,525
13,S70,997

8,644
575,100

4,391,061
8,756,915

45S.500 44,158,744
679,992 10,729,550

Wheat.abu. 5,5S5,646 97,213,012 2,597,944 43,797,17S 3,518,464 119,441,719
Corn__ bu. 2,630,212 117,385,437 4,404,123 88,505,867 1,730,904 55,606,354

Tot. b u .. 8,215,S5S 214,598,449 7,002,067 132,363,045 5,249,308 175,048,073
Indian corn futures have declined, owing to improving
S
S
V a lu es.
S
S
S
S
crop reports, long liquidation, pressure from bear traders Vli'tVfcflour
5,032,069 87.394,656 2,686,056 43,766,166 3,396,483 103,657,192
Corn&meal
1,591,224
63,471,573
2,673,790
48,375,805
1,021,786
31,582,700
and a lack of support, though rallies have occurred at times
95,331
24
904,993
1,158
440,977
673,258
Onts&meal
532,343 17,127,034
3,4S5,300
31,093
921,918
on the covering of shorts and some falling off in the crop B
145,956
8,452,220
arley___
216,713
5,478,988
66,497
6,107,697
movement. Yet the feeling among many in the trade is Breadstuffs 7,396,923 177,350,476 6,249,S41 101,107,417 4,515,859 142,710,484
b . 19,183,809 232,360,061 17,115,846 193,535,587 16,269,293 200.175,768
undoubtedly bearish, owing to the better outlook for the crop CProvis’ns
otton___ 18,174,398 400,426,967 23,910,712 379,743,454 8,915,444 370,505,583
by reason of good rains and higher temperatures. The cash, Pctrol'm.&c 6,853,692 80,441,000 6.382,891 77,073,296 7,041,341 76,819,216
Tot. val. 51,608,822 890,578,504 53,659,290 751,459,754 36,741,937 790,211,051
demand, moreover, has been light at declining prices, and
large receipts are predicted for the not distant future, as
a Including flour reduced to bushels,
b Including cattle, sheep and hogs in all
farmers undoubtedly hold liberal supplies. To-day the months and years.
The aggregate exports from the United States of wheat
market declined rather sharply owing to general selling.
Cash prices were lower. The crop reports were very favor­ and wheat flour, expressed in bushels, for the twelve months
from July 1 to June 30 inclusive, ha\re been as follows for
able.
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK. four years:
Sat.

M on.

T ues.

W ed. Thurs.

F r i.

.59 % 59% 58
5S% 5 8 % 57
July delivery in elevator_
58% 58
57%
57% 57% 56%
58% 58% 58% 5S% 57% 56%
December delivery in elevator.
56% 56% 56% 56% 55%
57
DAILY CLOSING PRICES OF CORN FUTURES IN CHICAGO.
S al.

July delivery in elevator_______ 51 %
September delivery in elevator__51%
December delivery in elevator___ 49%

M on.

51%
51 %
49%

T ues.

51%
51%
49%

W ed . Thurs.

51 % 51
51% 51%
49% 48%

F r i.

49%
49%
47%

O a t s fo r fu tu r e d e liv e r }- in t h e W e s t e r n m a r k e t h a v e s h o w n
m o r e o r le ss ir r e g u la r it y , t h o u g h t h e t r e n d o f p r ic e s , h a s in
t h e m a in b e en d o w n w a r d , o w in g t o r e p o r t s t h a t t h e y ie ld
w ill b e b e t t e r t h a n e x p e c t e d , t h e d e c lin e in co rn a n d la rg er
o ffe r in g s .
T h e ca sh t r a d e h a s b e e n s lu g g is h .
C o m m is s io n
h o u s e b u s in e s s , t o o , h a s s h o w n a n o t i c e a b le , d im in u t io n ,
o w in g la r g e ly t o t h e im p r o v in g c ro p a c c o u n t s , a n d le a d in g
C h ic a g o in t e r e s t s , r e c e n t ly a c t iv e o n th e b u ll s id e , h a v e s h o w n
le s s d is p o s itio n to t a k e t h e a g g r e s s iv e .
T o - d a y a r a th e r
s h a r p d e c lin e t o o k p la c e .
L iq u id a t io n w a s h e a v y , a n d n o t a
li t t le s h o r t s e llin g w a s n o t i c e a b le , o w in g t o th e im proA u ng
c ro p r e p o r t s .

DAILY CLOSING PRICES OF OATS IN NEW YORK.
Sat.

M on.

T ues.

W ed .

T hurs.

F r i.

Mixed, 26 to 32
lb s --------------- 43 -48%
43
43
43
43
42%
TVhite clipped, 36
to 38 lbs-------44%-45% 44-45 43%-44% 44-45% 44-45% 43%-45
DAILY CLOSING PRICES OF NO. 2 MIXED OATS IN CHICAGO.

Sat
Sat.

July delivery in elevator_______ .38
38
September delivery in elevator .35
35
December delivery in elevator___-35%
35
The

M on.

37%
34%
35%

T ues.

37%
34%
35%

W ed . Thurs.

37%
34%
35%

36%
33%
34%

F r i.

34%
32%
33%

folloAving are c lo sin g q u o t a t io n s :

FLOUR.
Low grades_____ 83 20@S3 40
Kansas straights____ S3 75@S3 90
Second clears________ 2 50 @ 2 70 Kansas clears_______ 3 25 @ 3 50
Clears----------------------- 3 50(5, 3 85 Blended patents_____ 4 80@ 5 30
Straights____________ 3 70@ 3 85 Rye flour____________ 3 40(3) 4 20
Patent, spring_________ 4 10<5 4 40 Buckwheat flour____ Nominal.
Patent, winter________ 4 401'' 4 70 Graham flour_______ 3 10@ 3 50
Kansas patents______ 4 00 @ 4 20 Cornmeal___________ 2 80@ 2 90
GRAIN.
Wheat, per bush.—
Com, per bush.—
N. Dul., No. 1 ..
f.o.b. 8 7 %
No. 2 mixed___
N. DuL, No. 2__
f.o.b. 85%
No. 2 yellow __
Red winter, No. 2
f.o.b. 83%
No. 2 w hite___
Hard “
“
f.o.b. 83% Rye, per bush.—
. Oats— Mixed, bush.—
No. 2 Western__
No. 2 white...... ......... Nominal.
State and Jersey.
No. 2 mixed _ . ......... Nominal.
Barley—Western . .
No. 2 white, clipped .Nominal.
Feeding__________

c.

f.o.b. 57
f.o.b. 58%
fo .b . 59
63
Nominal.
Nominal.
Nominal.

WHEAT EXPORTS FROM JULY 1 TO JUNE 30.
1905-06.
1904-05.
1903-04.
1902-03.
Wheat, bushels______________ 34,793,525
4,391,061 44,158,744 113,454,452
Flour, reduced to bushels---------62,419,487 39,406,117
75,282,975 87,493,185
Total bushels__________ ____ 97,213,012

43,797,178

119,441,719

200,947,637

The movement of breadstuffs to market as indicated in the
statements below is prepared by us from figures collected by
the New York Produce Exchange. The receipts at Western
lake and river ports for the week ending last Saturday and
since Aug. 1, for*each of the last three years, have been:
R e c e i p t s a t—

Chicago___
Milwaukee..
D uluth.. . .
Minneapolis.
T oledo_____
Detroit
Cleveland__
St. Louis__
Peoria . .
Kansas City.

F lo u r .

W h e a t.

60 l b s .
692,100
110,037
304,561
1,054,190
78,500
25,832
50,120
839,576
86,400
1,223,000

b b ls .lD G lb s . b u s h .

Tot.wk.’ 06
Same wk. '05
Same wk. ’04

108,548
36,550
102,400
6,000
669
27,955
23,600
305,722
290.624
286,051

C orn .

O a ts .

56 lb s .
2,178,200
94,050
27,546
62,280
40,700
33,883
39,164
339,300
189,600
107,000

bu sh .

4,464,316
3,186,173
1,709,666

B a rley .

3,111,723
3,421,790
1,841,382

R ye.

32 lb s .
1,280,030
179,200
436,821
341,520
107,150
23,931
111,177
398.400
349,600
79,200

b u s h .4 8 l b s . b u .

125,500
172,700
124,251
104,990

56 lb s .
11,000
9,600
3,655
15,700
7,740

2,600
19,000

3,810
6,300

3,307,029
2,738,469
1,759,612

549,041
425,588
257,244

57,805
31,434
42,644

bu sh .

Since Aug. 1
1905-06... 19,608,053 220,037,411 187,917,639 218,154,014 75,220.444 7,575,110
1904-05... 16,391,982 201,081,497 185,570,280 159,008,660 64,978,504 6,565,887
1903-04... 18,603,738 212,896,902 166,575,622 154,780,480 64,840,600 7,604,342

Total receipts of flour and grain at the seaboard ports for
the week ended July 14 1906 follow:
R e c e ip ts a t—

F lo u r ,
b b ls.

New Y o r k ...........
B o s t o n .................
Portland_________
Philadelphia.........
B a ltim o re .__
Richmond
New Orleans.a__
Galveston________
Montreal
...........
Mobile.............

43,119
47,755
1,800
9,149

Total w e e k .__
AA'eek 1905_______

235,798
166,336

90,474
21,973

18,671
2,857

W h e a t,
b u sh .

166,700

56.000
90,643
213,454
18,700
62.000
249,590
857,087
742,784

C orn ,
bu sh .

O a ts ,
bu sh .

592,175
1,675

423,100
93,389

125,600
152,291
39,322
44,000
4,000
302,734
42,315

125,829
76,698
24,126
140,000

1,304,112
1,276,033

B a rley ,
b u sh .

R ye,
bu sh .

7,200
2,215
1,430

27,767

759

916,909
797,30.3

7,959
48,750

3,645
500

a Receipts do not include grain passing through New Orleans for foreign ports
on through bills of lading.

Total receipts at ports from Jan. 1 to July 14 compare
as follows for four years:
1906.
8,562,388

1905.
5,433,277

1904.
10,079,290

1903.
11,316.216

AVheat.______________ bush. 38,989,485
Com .......................
69,001,171
Oats.......... .................
43,121,209
Barley
_______
7,308,092
R y e ................
832,952

12,523,244
62,532,357
24,993,543
4,152,477
198,515

23,475,060
32,652,682
22.859.076
1,864,644
514,681

52,356,S39
66,420,415

R ece ip ts o/—
F lou r_________ _______ bbls.

2il.22U.UVi
2,197,940

2,908,413
GOVERNMENT W E E K L Y W E A TH E R R E P O R T .—
Mr. .James Berry, Chief of the Climate and Crop Division of
81,366,143 153,109.726
Total g r a in ........................159,252,909 104,400,136
the Lnited States Weather Bureau, made public on Tuesday
The exports from the several seaboard ports for the week
the telegraphic reports on the weather in the various States
ending July 14 1906 are shown in the annexed statement :
for the week ending July 16, summarizing them as follows:
Com,
Wheal,
Except on the North Pacific coast, where the weather was very warm,
Exports from—
bush .
hush.
the temperature during the week ending July 16 was generally favorable, New York.......... .. 112,072 422,839
being considerably below the average over the eastern Rocky Mountain Portland...........
50.000
slope, in the Missouri and central Mississippi valleys and in the northern Boston .
233,943
Philadelphia___
1.330
portion of the east Gulf States. The Lake region, upper Ohio valley Baltimore.
...
167,842
lfl',666
and west Gulf districts experienced temperatures slightly above the New Orleans___
12,468
average.
Galveston.............
6,200
The greater part of the Gulf States received much more than the Montreal ___
141.455
136,970
average rainfall, but there was generally less than the average in the Mobile..................
42,315
central valleys, lower Lake region, and northern portion of the Middle
Total w eek__ 500,070
789.964
Atlantic States.
Droughty conditions exist to a considerable extent in the southern Same time 1905. 173,616 919.088
portion of the upper Lake region, in parts of the lower Missouri and
The destination of these
central Mississippi valleys and in the northern portion of the Middle
At antic States.
July 1 1906 is as below:

Rye,
bush.

Flour,
bbls.
50,675

Oats,
bush.
9,130

18,038
17,851
29,211
5.354
5,043
11,275
2,857

"s ', 286
88,235

.........

140,324
68,910

105,681
121,362

.........

Barley,
bush.

Peas,
hush.
1,010

-----

1,641

.........

--L-

30,948

2,681
4,384

30

exports for the tveck and since

THE CHRONICLE.

170
----------- Flour------------

Week
Exports lor week and July 14.
since July 1 to—
bbls.

Since
July 1
1906.

bbls.

—Wheal--------------------------------- CornSince
Since
Week
July 1
July 1
July 1 4 .
1906.
1906.
bush.
bush.
bush.

Week
July 14.
bush.

U n it e d K i n g d o m ___ 6 4 ,4 1 0
C o n t i n e n t ______
3 0 ,5 5 1
S o . & C e n t . A m e r i c a 1 4 ,7 0 4
W e s t I n d i e s . . _____ 3 0 ,3 1 7
B r it.. N o . A m . C o l s . .
294
O t h e r c o u n t r i e s _____
48

1 6 9 ,0 1 8
6 5 ,5 6 7
2 0 ,4 7 8
5 4 ,6 3 5
1 ,8 0 9
48

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

1 ,0 2 1 ,1 9 9
2 7 8 .9 0 7

T o t a l _______ _______ 1 4 0 ,3 2 4
T o t a l 1 9 0 5 ____________ 6 8 , 9 1 6

3 1 1 ,5 5 5
1 4 7 ,3 5 8

5 6 0 ,0 7 0
1 7 3 ,6 1 6

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

1 1 1 ,5 3 6
6 0 3 ,5 6 3
589
7 2 ,8 1 4

: : : : : : :

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

1 ,4 6 2

V ,4 6 2

7 8 9 ,9 6 4
9 1 9 ,6 8 8

1 , 5 9 7 ,2 5 3
1 ,6 0 8 ,9 7 6

T h e v is ib le s u p p ly o f g r a in , c o m p r is in g th e s to c k s in
g r a n a r y a t th e p r in c ip a l p o in ts o f a c c u m u la tio n a t la k e a n d
s e a b o a r d p o r ts J u ly 1 4 1 9 0 6 , w a s a s fo llo w s :
Wheat,
bush.
N e w Y o r k ________________
“
a f l o a t _________
B o s t o n ______ _______ _____
P h i l a d e l p h i a ____________
B a l t i m o r e ________________
N e w O r l e a n s ____________
G a l v e s t o n _________________
M o n t r e a l _____________
T o r o n t o __________________
B u f f a l o ___________________
“
a f l o a t ...............T o l e d o ____________________
“
a f l o a t _________
D e t r o i t ___________________
“
a f l o a t _________
C h i c a g o ___________________
‘
a f l o a t _________
M i l w a u k e e ----------------------“
a f l o a t _________
F o r t W i l l i a m ____________
P o r t A r t h u r ______________
D u l u t h ___________________
“
a f l o a t _________
M i n n e a p o l i s ______________
S t . L o u i s __________________
“
a f l o a t _________
K a n s a s C i t y _____________
P e o r i a _____________________
I n d i a n a p o l i s _____________
O n M is s is s ip p i R i v e r —
O n L a k e s ________________
O n C a n a l a n d R i v e r ___
T o ta l
T ota l
T ota l
T ota l
T ota l

J u ly
J u ly
J u ly
J u ly
J u ly

14
7
15
16
18

3 9 8 ,0 0 0
________
6 3 9 ,0 0 0
3 0 ,0 0 0
2 4 1 ,0 0 0
3 6 ,0 0 0
1 4 5 ,0 0 0
3 3 7 ,0 0 0
1 ,0 0 0
5 2 8 ,0 0 0
-----------1 2 0 ,0 0 0
________
2 1 8 ,0 0 0
________
1 ,8 7 3 ,0 0 0
________
1 2 8 ,0 0 0
________
1 ,2 6 7 ,0 0 0
5 8 6 ,0 0 0
3 ,2 3 4 ,0 0 0
________
1 1 ,3 7 4 ,0 0 0
1 ,2 2 6 , 0 0 0
________
9 2 0 ,0 0 0
4 4 ,0 0 0
1 0 9 ,0 0 0
-----------■ 6 7 7 ,0 0 0
1 1 6 ,0 0 0

1 9 0 6 .- 2 4 ,2 4 7 ,0 0 0
1 9 0 6 .- 2 4 ,9 5 7 ,0 0 0
1 9 0 5 .-1 2 ,3 3 9 ,0 0 0
1 9 0 4 .- 1 2 ,7 1 9 .0 0 0
1 9 0 3 .- 1 3 ,0 6 7 ,0 0 0

Corn,
bush.

Rye
bush.

Oats,
bush.

3 4 4 ,0 0 0

2 0 7 ,0 0 0

1 9 ,0 0 0

6 2 ,0 0 0
3 .0 0 0
4 8 2 .0 0 0
6 1 ,0 0 0
7 .0 0 0
1 2 0 .0 0 0

1 9 3 .0 0 0
1 2 4 .0 0 0
1 9 0 .0 0 0
1 1 2 .0 0 0

4 5 ,0 0 0
1 ,0 0 0

Barley
bush.
7 2 ,0 0 0

1,000
142,666
'Y666

4 9 6 ,0 0 0

1 8 1 ,0 0 0
3 4 .0 0 0
1 ,0 8 2 .0 0 0

1 4 5 ,0 0 0

1 6 5 ,0 0 0

1 5 ,0 0 0

7 ,0 0 0

2 5 ,0 0 0

4 3 ,0 0 0

1 ,2 4 6 ,0 0 0

6 5 5 ,0 0 0

5 8 4 ,0 0 0

4 0 0 ,0 0 0

3 3 9 ,0 0 0

6 3 ,0 0 0

2 7 .0 0 0

4 3 4 ,0 0 0

f
2 7 ,0 0 0

8 3 7 ,0 0 0

8 8 ,0 0 0

3 4 0 ,0 0 0

2 7 ,0 0 0
1 2 5 ,0 0 0

9 8 8 ,0 0 0
3 4 ,0 0 0

1 0 6 ,0 0 0
8 ,0 0 0

2 8 5 .0 0 0
1 5 ,0 0 0

1 8 0 ,0 0 0
3 8 ,0 0 0
2 1 2 ,0 0 0

1 2 ,0 0 0
1 4 2 ,0 0 0
2 8 ,0 0 0

8 2 0 ,0 0 0
3 5 9 ,0 0 0

4 8 0 .0 0 0
2 8 0 .0 0 0

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

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

■

1 0 ,0 0 0
1 ,0 0 0

10,000
1 ,4 1 7 ,0 0 0
1 ,4 3 3 .0 0 0
7 7 5 ,0 0 0
7 8 0 ,0 0 0
6 1 4 .0 0 0

8 9 3 .0 0 0
7 8 0 ,0 0 0
8 0 2 ,0 0 0
1 ,2 3 6 ,0 0 0
4 1 0 ,0 0 0

THE DRY GOODS TRADE.
N ew Y o r k , F r id a y N ig h t, J u ly 2 0 1 9 0 6 .
T h e r e h a s b e e n a g o o d s te a d y tr a d e in th e c o tto n g o o d s
m a r k e t d u r in g th e w e e k , a n d w h ile o r d e r s h a v e b e e n m o s t ly
fo r s m a ll lo ts , y e t th e a g g r e g a te h a s b e e n s a tis fa c to r y . T h e
w e a k s p o t in th e m a r k e t h a s b e e n r e m o v e d b y a n im p r o v e d
d e m a n d , b o th fr o m e x p o r te r s a n d d o m e s tic b u y e r s , fo r h e a v y
b r o w n g o o d s , a n d s a le s h a v e ta k e n p la c e a t a fu ll L s c . o v e r
th e r e c e n t lo w p r ic e . I n a s m u c h a s p r o d u c tio n o f th e s e h a s
b e e n m a t e r ia lly c u r t a ile d , th e p r e s e n t d e m a n d is s u ffic ie n t
to p la c e t h e m in a s a t is fa c t o r y p o s it io n fo r th e r e m a in d e r
o f th e s e a s o n , a n d it is e v id e n t th a t th e lo w p o in t h a s b e e n
to u c h e d . T h e s e n tim e n ta l e ffe c t o f th e e x p o r t sa le s to
C h in a h a s b e e n c o n s id e r a b le , a n d w h ile th e a m o u n t c o n tr a c te d
f o r s o fa r h a s o n ly b e e n a b o u t 6 ,0 0 0 t o 8 ,0 0 0 b a le s , y e t i n "
q u ir ie s a r e s till b e in g r e c e iv e d in fa ir n u m b e r s a n d fu r t h e 1
b u s in e s s is a n tic ip a te d . I n th e d o m e s tic m a r k e t th e b u y in §
is n o t o n a n y t h in g lik e s u c h a h e a v y s c a le a s i t w a s a t th i®
tim e la s t y e a r , w h e n th e q u e s tio n o f a n a c tu a l s c a r c it y cr
s o m e lin e s w a s b e g in n in g to b e d is c u s s e d , fo r b u y e r s n o w
k n o w t h a t t h e y w ill h a v e n o d iffic u lty in s e c u r in g a ll th e
g o o d s t h e y m a y n e e d . M o r e o v e r , m o n e y fo r c o m m e r c ia l
p u r p o s e s is n o t a s e a s y a s it w a s la s t y e a r , a n d b u y e r s in
m o s t c a s e s a r e o n ly ta k in g th o s e g o o d s th a t th e y a c tu a lly
n e e d . T h is c la s s o f b u s in e s s is q u ite s a t is fa c t o r y to s e lle r s ,
h o w e v e r , a n d th e r e c e n t p e s s im is m h a s g iv e n w a y to b r ig h te r
v i e w s o n t h e i m m e d i a t e f u t u r e o f t h e m a r k e t . I n t h e m e n ’s
w e a r lig h t-w e ig h t w o o le n a n d w o r s te d m a r k e t fu r th e r lin e s
o f fa n c y g o o d s h a v e b e e n o p e n e d a t a d v a n c e s o v e r la s t
y e a r ’s p r i c e s .
D O M E S T I C C O T T O N G O O D S .— T h e e x p o r t s o f c o t t o n
g o o d s fr o m t h is p o r t fo r t h e w e e k e n d in g J u ly 1 6 w e r e 2 ,5 5 8
p a c k a g e s , v a lu e d a t $ 1 9 1 ,6 9 1 , t h e ir d e s t in a t io n b e in g t o t h e
p o in ts s p e c ifie d in th e ta b le b e lo w :
------- 1906-—------------------- 1905-------16.
TV e e k .
Great Britain _ _______ . . _______
37
Other European__ ______
_______ 200
2
China _ _ _ _ _ _ _ _ _ _
__
India _____
_____ .
_______ 503
Arabia_____
. .
_____
Africa
___________
West Indies
____
____ _______ 529
M exico. .
...
_______
13
Central America _ _ _______ _______ 308
South America________ ____ _______ 346
Other countries ________ _ _______ 620
N ew

Y o r k to J u l y

T ota l.. ___

.

__ _____ .............2,558

S in c e
J a n . 1.

743
958
68,115
5,834
24,055
5,304
12,372
1,167
8,819
29,297
9,339

166,003

W eek.

26
5
9,283

S in c e
J a n . 1.

2,102
811
426
28
85
896
160

683
416
82,854
8,863
15,349
6,574
16,131
1,420
9,817
32,784
10;391

13,822

185,282

T h e v a lu e o f th e s e N e w ' Y o r k e x p o r ts s in c e J a n . 1 h a s b e e n
$ 9 ,4 1 8 ,2 0 0 in 1 9 0 6 , a g a in s t $ 9 ,8 4 2 ,4 1 5 in 1 9 0 5 .
T h e c h a n g e in th e p o s itio n o f h e a v y b r o w n g o o d s d u r in g
th e p a s t w e e k h a s r e a lly b e e n r e m a r k a b le , fo r th e d o m e s tic
d e m a n d , in d u c e d b y r e p o r ts o f e x p o r t p u r c h a s e s , d is c lo s e d
th e fa c t t h a t th e a lle g e d a c c u m u la t io n s in m a n y c a s e s d id
n o t e x is t . I n th e m e a n tim e c o n v e r te r s h a d a llo w e d th e m ­
s e lv e s to r u n s h o r t o f g o o d s , a n d fo r m e r s o u r c e s o f s u p p ly
w e r e s h u t o ff o w in g to S o u th e r n m a c h in e r y h a v in g b e e n
tu r n e d fr o m th e s e to o th e r lin e s . H o m e b u y e r s a r e s till in
n e e d o f g o o d s , a n d fo r th is r e a s o n it is b e lie v e d t h a t th e m a r ­

[V o l. L x x x m .

k e t h a s to u c h e d b o t t o m . S a le s o f g o o d s fo r e x p o r t h a v e
b e e n m o s t ly o f 4 -y a r d s h e e t in g s , b u t 4 .5 0 , 4 .7 0 a n d a s m a ll
q u a n t it y o f 5 -y a r d g o o d s h a v e a ls o b e e n ta k e n fo r C h in a ,
a n d th e d e m a n d s h o w s s ig n s o f c o n tin u in g . B le a c h e d g o o d s
a r e fir m , a n d p r o m in e n t lin e s a r e ta k e n c a r e o f fo r th e n e x t
c o u p le o f m o n th s . T h e d e m a n d fo r c o a r s e , c o lo r e d c o tto n
g o o d s is in e x c e s s o f th e p r o d u c tio n o f th e c o u n t r y , a n d
s o m e S o u th e r n m ills a r e tu r n in g th e ir m a c h in e r y to th e s e
g o o d s t o fill t h e d e fic ie n c y . P r ic e s a r e v e r y fir m a n d d e ­
liv e r ie s a r e d iffic u lt. S a le s o f C a n to n fla n n e ls h a v e b e e n
la r g e r t h a n o f la t e . T h e r e is a s c a r c it y o f fin e r lin in g s , a n d
th e d e m a n d c o n tin u e s g o o d . B u s in e s s in p r in ts h a s b e e n
m o d e r a te , a n d fa n c y p r in ts h a v e s o ld fa ir ly w e ll. S ta p le
g in g h a m s a r e s o w e ll s o ld u p t h a t e a r ly d e liv e r ie s a r e im ­
p o s s ib le in m o s t c a s e s . T h e p r in t c lo th m a r k e t h a s b e e n
d e c i d e d l y f i r m e r , p a r t i c u l a r l y f o r w i d e g o o d s , a n d l a s t w e e k ’s
p r ic e s h a v e b e e n r e fu s e d . R e g u la r s a r e s till n o m in a lly
q u o te d a t 3 % c .
W O O L E N G O O D S .- — B u y i n g i n t h e m e n ’s w e a r l i g h t ­
w e ig h t w o o le n a n d w o r s te d g o o d s m a r k e t h a s b e e n p r o g r e s s in g
s te a d ily d u r in g th e w e e k , a n d th e to ta l v o lu m e o f b u s in e s s
h a s b e e n fa ir ly la r g e . B u y e r s , h o w e v e r , a r e o p e r a tin g w ith
c o n s id e r a b le c o n s e r v a tis m , a n d th e r e is a n e n tir e a b s e n c e o f
s p e c u la t io n . W h e n th e m a r k e t w a s fir s t o p e n e d th e r e w a s
a p h e n o m e n a l r u s h to p u r c h a s e s e r g e s , b u t s in c e th a t tim e
th in g s h a v e s lo w e d d o w n , a n d p u r c h a s e s a r e n o w b e in g m a d e
a s th o u g h it w a s m e a n t to a v o id c a n c e lla tio n s in th e fu tu r e .
A ll-w o o l g o o d s a r e m o v in g v e r y s lo w ly w ith b u t fe w e x c e p ­
tio n s , a n d th e m a n u fa c tu r e r o f th e s e is s tiU in a n u n fo r tu n a te
p o s itio n . W o r s te d g o o d s , h o w e v e r , a r e m o v in g m o r e fr e e ly ,
a n d s o m e o f th e n e w lin e s o p e n e d h a v e b e e n v e r y a t t r a c t iv e .
A f e a t u r e o f t h e w e e k ’s o p e n i n g s h a s b e e n t h e a d v a n c e i n
p r i c e s , w h i c h , f r o m t h e b u y e r ’s p o i n t o f v i e w , h a s b e e n
r a d ic a l, b u t w h ic h s e lle r s m a in t a in h a s b e e n r e n d e r e d n e c e s ­
s a r y b y th e e n h a n c e d c o s t o f th e r a w m a te r ia l. S ta n d a r d
c la y s w h ic h h a v e b e e n o p e n e d d u r in g th e w e e k h a v e b e e n
a d v a n c e d c o n s id e r a b ly c o m p a r e d w ith la s t y e a r , b u t u n le s s
th e b u y e r w is h e s to s u b s t it u t e o th e r lin e s fo r t h e s e , h e m u s t
p a y w h a t is a s k e d . D u p lic a te h e a v y -w e ig h t b u s in e s s is
s m a ll a n d w ith o u t s p e c ia l fe a tu r e . V e r y fe w lin e s o f d r e s s
g o o d s h a v e y e t b een o p e n e d , b u t th o se th a t h a v e b e e n sh o w n
h a v e n o t b e e n a d v a n c e d t o t h e s a m e e x t e n t a s m e n ’s w e a r
good s.
F O R E I G N D R Y G O O D S .— I m p o r t e d w o o le n a n d w o r s t e d
d r e s s g o o d s h a v e b e e n q u ie t a n d fe a tu r e le s s . S ilk s a n d r ib ­
b o n s a r e s te a d y a n d in m o d e r a te d e m a n d . L in e n s c o n tin u e
s tr o n g w ith fu r th e r a d v a n c e s p r o b a b le . B u r la p s a r e s te a d y
an d u n ch an ged.
Importations and Warehouse Withdrawals of Dry Goods.
T h e im p o r ta tio n s a n d w a r e h o u s e w ith d r a w a ls o f d r y g o o d s
a t th is p o r t fo r th e w e e k e n d in g J u ly 1 9 1 9 0 6 a n d s in c e
J a n . 1 1 9 0 6 , a n d fo r th e c o r r e s p o n d in g p e r io d s o f la s t y e a r ,
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THE CHRONICLE.

July 21 1906. J

S tate

C ity B E - P / W r v i m

atjb

News Items.
Arizona.— Statehood E lection . — Governor Joseph H. Ivibbey lias issued a proclamation submitting to a vote of the
people at the general election Nov. 6 the question of jointStatehood for the Territories of Arizona and New Mexico
under the name of Arizona. On the same day the people of
New Mexico will also vote on the same proposition.
Gibbon, Neb.— Case A p p e a le d . — We are advised that an
appeal has been taken to the Supreme Court in the suit
brought by Frank Hershey. a taxpayer, to restrain the issu­
ance of the $15,000 5% water bonds offered but not sold
on Dec. 15 1905 (V. 81, p. 1S07). As stated in V. S2,
p. SS2. the opinion of the District Court was in favor of the
city.
Louisiana.— L egislatu re A d jo u r n s . — The Legislature of
this State adjourned 11:10 p. m. July 12 1906.
New Mexico.— Statehood E lection . — A proclamation has
been issued by Governor Hagerman providing that a vote
be taken at the general election Nov. 6 on the question of
joint-Statehood for the Territories of Arizona and New
Mexico. The election in Arizona will be held on the same
day.
B o n d C a lls a n d R e d e m p t io n s .
Biloxi, Miss.— B ond C all. — Under authority of Ordinance
No. 74 call is made for payment Sept. 1 at the Chemical
National Bank in New York City of $15,000 public-market
and city-hall-building bonds issued March 14 1895. De­
nomination 8500.
Jasper County (P. O. Carthage), Mo.— B on d C a ll. — Call is
made for payment Aug. 1 at the office of the County Treasurer
of bonds Nos. 19 to 24 inclusive, each for $500.
Williamson County (P. O. Georgetown), Tex.— Bonds
R edeem ed. — This county recently* redeemed an issue of
810,000 road, jail and bridge bonds. These bonds, it is
stated, were held by the Permanent School Fund.

Bond Proposals and Negotiations this wee!
h a v e b e e n a s fo llo w s :
A c w o r t h , C o b b C o u n t y , G a .— B ond O fferin g . — P r o p o s a l s
w ill b e r e c e iv e d u n t il 6 p . m . J u ly 2 6 b y E . M . L e m o n ,
M a y o r . fo r th e fo llo w in g b o n d s :
$ 1 7 ,0 0 0 o i t g o l d c o u p o n w a t e r - w o r k s b o n d s .
M a t u r it y $ 5 0 0 y e a r l y o n D e c . 1
I r o m 190 9 t o 1 9 2 0 in c lu s i v e a n d 8 1 ,0 0 0 y e a r l y o n D e c . 1 f r o m 1 92 1
t o 1 9 3 1 in c lu s i v e
5 .5 0 0 5 r i g o l d c o u p o n e l e c t r i c -l ig h t -p l a n t b o n d s .
M a t u r it y 8 1 .0 0 0 D e c . 1 1 93 2
a n d $ 1 ,5 0 0 y e a r l y o n D e c . 1 f r o m 1 9 3 3 t o 1 9 3 5 i n c lu s i v e .

A u t h o r it y S e c tio n 3 3 7 o f th e P o litic a l C o d e a n d e le c tio n
h e ld J u n e 9 1 9 0 6 . D e n o m in a t io n s $ 5 0 0 a n d $ 1 ,0 0 0 . D a t e
S e p t. 1 1 9 0 6 . In te r e s t J u n e 1 a n d D e c . 1 in A c w o r th o r
N e w Y o r k C ity . B o n d s are e x e m p t fro m c ity ta x e s . C e r­
tifie d c h e c k fo r 8 7 0 0 . p a y a b le to th e M a y o r , is r e q u ir e d .
B o n d e d d e b t, th is is s u e . A s s e s s e d v a lu a tio n fo r 1 9 0 6 .
8 4 2 5 ,0 0 0 .
A d a m s T o w n s h ip (P . O . S t. P a u l R . F . D . N o . 2 ) , D e c a tu r
C o u n t y , I n d .— B on d S a le. — O n J u l y 1 6 t h e $ 8 , 0 0 0 1 - 8 - y e a r
(s e r ia l) c o u p o n fu n d in g a n d r e fu n d in g b o n d s d e s c r ib e d in
V . 8 3 . p . 5 1 , w e re a w a r d e d to th e C itiz e n s ’ N a tio n a l B a n k
o f-G r e e n s b u r g a t p a r fo r 4 s . F o llo w in g a r e th e b id s :
C it iz e n s ’ X a t . B k .,G r e e n s b u r g
f f o r I s ; — ................... ...............
F a rm e rs & M erch a n ts X a t .
B a n k . X a s h v il l e f f o r 4 % s ) _
J . M . H o lm e s , C h ic a g o ( f o r 5 s)
A . K l e y b o l t e & C o . . C i n .( f o r 6 s )

iR e s e r v e L o a n L i f e I n s u r . C o .
$ 8 .0 0 0 0 0 !
( f o r 6 s ) _ _ - ______ ____________
B r e e d - H a r r is o n , C in . ( f o r 0 s ) .
8 . 0 0 0 0 0 !S . A . K e a n , C h ic a g o ( f o r 6 s ) _
S .0 0 0 0 0
8 ,4 8 4 0 0

S 8 .3 2 1 2 7
8 ,2 4 0 0 0
8 ,0 4 0 0 0

A d d y s t o n , H a m i l t o n C o u n t y , O h i o .— B ond O fferin g . —
P r o p o s a ls w ill b e r e c e iv e d u n t il 1 2 m . A u g . 1 4 b y W m . T .
C o le m a n , V illa g e C le r k , fo r th e fo llo w in g b o n d s :
$ 3 ,0 0 0 5
1 .5 0 0

o%

s tr e e t-im p ro v e m e n t b o n d s.
A u t h o r i t y S e c t i o n 2 8 3 5 o f t h e R e v is e d
S t a t u t e s a n d O r d in a n c e X 'o . 2 8 7 , p a s s e d J u n e 12 1 9 0 6 .
p u b li c -b u il d i n g b o n d s .
A u t h o r i t y S e c t i o n 2 8 3 5 o f th e R e v is e d S t a t u t e s
a n d O r d in a n c e X o . 2 8 2 , p a s s e d J u n e 12 1 9 0 6 .

D e n o m in a tio n 8 5 0 0 . D a te J u ly 1 1 9 0 6 . I n te r e s t s e m i­
a n n u a lly a t th e H a m ilt o n C o u n ty N a tio n a l B a n k in C le v e s .
M a t u r it y J u ly 1 1 9 2 1 . C e r tifie d c h e c k fo r $ 2 5 , p a y a b le to
th e V illa g e T r e a s u r e r , is r e q u ir e d w ith b id s fo r e a c h is s u e .
S u c c e s s fu l b id d e r to p a y a c c r u e d in te r e s t.
A l g e r C o u n t y ( P . O . M u n i s i n g ) , M i c h .— B ond O fferin g . —
P r o p o s a ls w ill b e r e c e iv e d u n til 3 p . m . A u g . 1 b y E d w in
N in e s s , C o u n t y C le r k , fo r $ 1 0 ,0 0 0 o f t h e 8 1 0 0 ,0 0 0 5 % r o a d c o n s tr u c tio n b o n d s v o te d o n J u n e 1 2 . A u t h o r it y S e c tio n
4 2 8 3 . L a w s o f 1 8 9 7 . D e n o m in a t io n 8 1 0 ,0 0 0 . D a t e A u g . 1
1 9 0 6 . I n te r e s t a n n u a lly o n F e b . 1 in M u n is in g . M a tu r ity
“ 8 1 0 ,0 0 0 w it h i n f iv e y e a r s a n d $ 1 0 ,0 0 0 y e a r ly t h e r e a f t e r .”
B o n d s a r c e x e m p t fr o m t a x a t io n . C e r tifie d c h e c k fo r 8 1 0 0 ,
p a y a b le to th e C o u n ty C le r k , is r e q u ir e d . B o n d e d d e b t a t
p r e s e n t , $ 1 5 ,0 0 0 . A s s e s s e d v a lu a t io n fo r 1 9 0 6 , $ 3 ,4 9 6 ,6 6 8 .
Alhambra City School District, Los Angeles County, Cal.
— Bond Sale.— On July 9 830.000 5% building bonds wore
awarded to N. W. Harris <fc Co. of Chicago at 104.606—a
basis of about 4 . 4 4 7 % . Following a r e t h e bids:
X . W . H a r ris <t C o . . C h ic a g o . . $ 3 1 . 3 8 2 0 0 W m . R . S t a a t s C r , . . P a -a d e n a $ 3 1 ,1 3 8 0 0
J . W . P h e lp s . P a s a d e n a ............. 3 1 ,2 1 5 0 0 P a s a d e n a S i v .& T r .C o .,P :. i d 'n :,i .Dc,:, v i
A d a m s -P h U lip s C < > .. L o s A n g . _ 3 1 .1 5 3 0 0 L o s A n g e le s T r . C o . , boa A r m . 3 1 .0 0 0 0 0
N\ W . Halsey C o . . S a n F r a n . 3 1 .1 5 2 0 0

D e n o m in a t io n s : $ 1 .0 0 0 a n d $ 2 ,0 0 0 . D a t e J u ly 9 1 9 0 6 .
In te r e s t a n n u a l. M a tu r ity fr o m o n e to tw e n ty y e a r s .

171

A l m a , H a r l a n C o u n t y , N e b . — B ond O fferin g . — P r o p o s a l s
w ill b e r e c e iv e d u n til 6 p . m . J u ly 2 4 b y J . A . B r o w n , C it y
C le r k , f o r S 2 0 .0 0 0 5 % 5 -2 0 - y e a r ( o p t i o n a l) c o u p o n w a t e r ­
w o r k s b o n d s a n d $ 5 ,0 0 0 5 % 1 0 -2 0 -y e a r ( o p t io n a l) c o u p o n
e le c t r ic -lig h t b o n d s . A u t h o r it y S e c tio n s S 7 2 6 a n d 8 7 9 5 ,
S ta tu te s o f 1 9 0 3 , a n d v o te o f 1 5 9 to 41 fo r w a te r b o n d s a n d
1 6 8 to 3 4 fo r lig h t b o n d s a t e le c tio n h e ld J u ly 2 1 9 0 6 . D e ­
n o m in a tio n $ 5 0 0 . D a te , d a y o f d e liv e r y . In te r e s t s e m i­
a n n u a lly a t t h e fis c a l a g e n c y in N e w Y o r k C it y . C e r tifie d
c h e c k (o r c a s h ) fo r 5 % , p a y a b le to th e C ity C le r k , is r e ­
q u ir e d . B o n d e d d e b t a t p r e s e n t , $ 9 ,0 0 0 . A s s e s s e d v a lu a ­
t io n fo r 1 9 0 6 , $ 8 7 1 ,0 9 0 .
A m e l i a , C l e r m o n t C o u n t y , O h i o . — B ond O fferin g . — P r o ­
p o s a ls w ill b e r e c e iv e d u n t il 1 2 m . A u g . 1 1 b y B . B . C u n d iff,
V i l l a g e C l e r k , f o r 8 1 , 8 2 5 5 % s i d e w a l k - c o n s t r u c t i o n ( v i l l a g e ’s
p o r tio n ) b o n d s . A u th o r ity A c t o f L e g is la tu r e p a s s e d A p r il
2 6 1 9 0 4 a n d o r d in a n c e p a s s e d J u ly 1 0 1 9 0 6 . D e n o m in a ­
tio n s : § 2 0 0 , $ 2 5 0 , $ 1 0 0 a n d $ 7 5 . D a te A u g . 1 5 1 9 0 6 .
In te r e s t a n n u a l. M a tu r ity $ 3 0 0 in 1 9 0 8 , $ 3 0 0 in 1 9 0 9 ,
$ 3 0 0 in 1 9 1 0 , $ 2 7 5 in 1 9 1 1 , $ 2 0 0 in 1 9 1 2 , $ 2 0 0 in 1 9 1 3 a n d
$ 2 5 0 in 1 9 1 4 . C e r tifie d c h e c k fo r $ 1 0 0 , p a y a b le to th e V il­
la g e T r e a s u r e r , is r e q u ir e d . A c c r u e d in te r e s t to b e p a id b y
p u r c h a s e r , w h o w ill a ls o b e r e q u ir e d to fu r n is h b la n k b o n d s .
A m i t e C i t y , L a . - — B on d E lectio n . — I t i s s t a t e d t h a t t h e
T o w n C o u n c il h a s d e c id e d t o s u b m it t o a v o t e o n A u g . 6
t h e q u e s t io n o f is s u in g $ 1 5 ,0 0 0 s c h o o l-b u ild in g , $ 2 0 ,0 0 0
w a t e r -w o r k s a n d $ 5 ,0 0 0 e le c t r ic -l ig h t b o n d s .
A n a h e i m , C a l . — B ond O fferin g . — 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 il 8 p . m ., J u ly 2 6 , b y E d w a r d B . M e r r it t , C ity r C le r k , fo r
$ 4 8 ,0 0 0 5 % g o ld w a t e r a n d li g h t -i m p r o v e m e n t b o n d s .
D e n o m in a tio n $ 6 0 0 . D a te J u ly 2 1 9 0 6 . I n te r e s t s e m i­
a n n u a lly a t t h e o ffic e o f t h e C it y T r e a s u r e r . M a t u r it y
$ 1 ,2 0 0 y e a r ly o n J u ly 2 f r o m 1 9 0 7 t o 1 9 4 6 in c lu s iv e . A c ­
c r u e d in te r e s t to b e p a id b y p u r c h a s e r . C e r tifie d c h e c k o n
s o m e b a n k in C a lifo r n ia fo r $ 5 0 0 , p a y a b le to th e C ity T r e a s ­
u r e r , r e q u ir e d .
A n n a p o l i s , B i d . — B onds V oted . — A n e l e c t i o n h e l d i n t h i s
c ity J u ly 1 7 r e s u lte d in a v o t e o f 4 1 8 to 1 7 9 in fa v o r o f a
p r o p o s it io n t o is s u e $ 2 5 ,0 0 0 4 % s t r e e t -im p r o v e m e n t b o n d s .
M a t u r it y $ 5 ,0 0 0 e v e r y fiv e y e a r s . D a t e o f s a le n o t y e t d e ­
te r m in e d .
A r l i n g t o n , M a s s . — B onds to B e T aken by S in kin g F u n d . —
W e a r e in f o r m e d t h a t t h e $ 3 ,0 0 0 p o lic e -s ig n a l b o n d s a u ­
th o r iz e d o n M a y 1 5 ( V . 8 2 , p . 1 3 3 4 ) w ill b e t a k e n , w h e n
is s u e d , b y th e S in k in g F u n d C o m m is s io n e r s .
A r l i n g t o n , K i n g s b u r y C o u n t y , S o . D a k . — B onds N ot Y et
S old . — N o s a l e h a s y e t b e e n m a d e o f t h e $ 1 3 , 0 0 0 2 0 - y e a r
w a t e r -w o r k s b o n d s o ffe r e d b u t n o t s o ld o n M a y 2 2 ( V . 8 2 ,
p . 1 2 2 5 .)
A t h e n s , O h i o . — B onds A u th orized . — T h e C i t y C o u n c i l r e ­
c e n tly p a s s e d o r d in a n c e s a u th o r iz in g th e is s u a n c e o f th e fo l­
lo w in g b o n d s :
$ 1 ,5 0 0 5 % 2 - 4 - y e a r (s e r ia l) s e w e r - c o n s t r u c t i o n b o n d s . O r d in a n c e p a s s e d J u n e 18"
3 ,5 0 0
5% 5 - 1 1 - y e a r (s e r ia l) c o u p o n f u n d i n g b o n d s . O r d in a n c e p a s s e d J u n e 2S._

D e n o m in a tio n $ 5 0 0 . D a te A u g . 1 1 9 0 6 . I n te r e s t s e m i­
a n n u a l.
A t h o l , M a s s . — B id s R ejected . — T h i s t o w n a t a m e e t i n g
h e ld J u n e 2 8 a u t h o r iz e d t h e is s u a n c e o f $ 3 5 0 ,0 0 0 4 % b o n d s
to p u r c h a s e th e p r o p e r ty r ig h ts a n d p r iv ile g e s o f th e A t h o l
W a t e r C o . M a t u r i t y $ 7 ,0 0 0 y e a r ly f r o m 1 9 0 7 t o 1 9 1 6 in ­
c lu s iv e , $ 1 0 ,0 0 0 y e a r ly f r o m 1 9 1 7 t o 1 9 2 6 i n c l u s iv e , a n d
$ 1 8 ,0 0 0 y e a r ly f r o m 1 9 2 7 t o 1 9 3 6 in c lu s iv e . T h e s e b o n d s
w e r e o ffe r e d o n J u ly 1 4 b u t a ll b id s r e c e iv e d o n th a t d a y
w e r e r e j e c t e d . T h e T o w n T r e a s u r e r , i t i s s t a t e d , v ri l l n o w
o ffe r th e se s e c u r itie s a t p r iv a te s a le .
A t t l e b o r o u g h , M a s s . — T em porary L o a n . — T h e T o w n T r e a s ­
u r e r r e c e n t ly n e g o t ia t e d a lo a n o f $ 2 0 ,0 0 0 w it h E s t a b r o o k
& C o . o f B o s to n a t 4 .4 5 % d is c o u n t. L o a n w a s m a d e in
a n t ic ip a t io n o f th e c o lle c tio n o f t a x e s , a n d w ill m a t u r e in
th re e m o n th s.
B a s s e t t , R o c k C o u n t y , Neb.— N o B onds to Be Issu ed . —
W e a r e in fo r m e d th a t th e to w n h a s d e c id e d n o t to is s u e th e
$ 8 ,0 0 0 6 % 5 -2 0 -y e a r ( o p t io n a l) w a t e r b o n d s o ffe r e d b u t n o t
so ld o n D e e . 11 1 9 0 5 . S e e V . 8 2 , p . 4 0 6 .
B a t a v i a , C l e r m o n t C o u n t y , O h i o . — B ond O fferin g . — - P r o ­
p o s a ls w ill b e r e c e iv e d u n til 1 2 m . A u g . 2 1 b y G . H . K a in .
V i l l a g e C l e r k , f o r $ 3 , 4 0 0 4 % s i d e w a l k - c o n s t r u c t i o n ( v i l l a g e 's
p o r tio n ) b o n d s . A u t h o r it y A c t o f th e L e g is la tu r e p a s s e d
A p r il 2 6 1 9 0 4 a n d o r d in a n c e p a s s e d J u ly 9 1 9 0 6 . D e n o m i­
n a tio n $ 2 0 0 . D a te A u g . 1 8 1 9 0 6 . I n te r e s t a n n u a l. M a ­
tu r ity th ir ty y e a r s . C e r tifie d c h e c k fo r $ 1 0 0 . p a y a b le to
th e V illa g e T r e a s u r e r , is r e q u ir e d . S u c c e s s fu l b id d e r to 1u in is h b la n k b o n d s a n d p a y a c c r u e d in te r e s t. A ll b id s m u s t
b e u n c o n d itio n a l.
E e a u m o n t , T e x . — Bond Election Proposed - 'I l i e C i t y C * > n n c il h a s b e fo r e it a r e s o lu t io n t o s u b m i t t o a v o t e o f t h e p c p ie
a p r o p o s it io n t o is s u e $ 3 0 ,0 0 0 s c h o o l b o n d s .
Bedford (Town), Westchester County, N. Y .—Bond Offer­
ing.— Proposals will b e received until 5 p. m. July 23 i y
Edward P. Barrett, Supervisor, at the office of Joseph
Merriam, Town Clerk, (P. O . Mt. Kisco) for 8101,400 4 c/o
registered highway-improvement bond-. 1lioso bond- me
part of an issue of not exceeding 8105 ooo mu <>ri
resolution of the Board of Supervisors, pur-mard tn y "11
69 of the County Law. Denominations $1,000 and $s00.
Date June 1 1906. Interest semi-a nnually at ID*- Mmrnt
Kisco National Bank in Mount Kisco. Maturity
,$00

172

THE CHRONICLE,

y e a r ly fr o m J u n e 1 1 9 1 1 to ^ J u n e 1 1 9 2 3 in c lu s iv e . T h e
le g a lit y o f t h is is s u e w ill b e a p p r o v e d b y J . H . C a ld w e ll,
E s q ., o f N e w Y o r k C it y , a n d J o s e p h E . M e r r ia m , o f M o u n t
K is c o , w h o s e o p in io n s w ill b e d e liv e r e d to t h e p u r c h a s e r .
C e r tifie d c h e c k o n a n a tio n a l o r S ta te b a n k o f N e w Y o r k
S t a t e f o r .$ 3 ,0 0 0 , p a y a b l e t o E d w a r d P . B a r r e t t , S u p e r v i s o r ,
is r e q u ir e d . N o c o n d itio n a l b id s w ill b e c o n s id e r e d . P r e s e n t
d e b t o f t o w n , $ 9 ,6 3 4 6 4 . A s s e s s e d v a lu a t i o n , $ 4 ,1 8 2 ,2 0 6 .
Belton, Bell County, Tex.— B onds R egistered . — A n i s s u e
o f $ 2 5 ,0 0 0 5 % 2 0 -4 0 -y e a r ( o p t io n a l) s c h o o l-h o u s e b o n d s
d a te d J u ly 2 1 9 0 6 w a s r e g is te r e d b y th e S ta te C o m p tr o lle r
o n J u ly 1 1 . 'fc jji2 fc H £ M
' M B A N m fedM
Benton County (Wash.) School DistrictJNo.2,12.— B ond
Sale.— O n J u l y 1 4 t h e $ 1 , 6 5 0 1 0 - y e a r c o u p o n s c h o o l - b u i l d i n g

[V ol. Lxxxni.

C a r b e r r y , M a n i t o b a . — D ebenture O fferin g . — P r o p o s a l s w i l l
b e r e c e iv e d u n til 7 p . m . A u g . 6 b y G e o r g e B a lfo u r , S e c r e ta r y T r e a s u r e r , f o r $ 3 0 ,0 0 0 5 % w a t e r -w o r k s , e le c t r ic -lig h t a n d
s id e w a lk d e b e n tu r e s . In te r e s t a n n u a lly a t th e M e r c h a n ts ’
B a n k o f C a n a d a in C a r b e r r y . M a tu r ity p a r t y e a r ly fo r
tw e n ty y e a rs.
C a r o l i n e C o u n t y (P . O . D e n t o n ) , M d . — B ond O fferin g . —
P r o p o s a ls w ill b e r e c e iv e d u n til 1 2 m . A u g . 1 4 b y th e C o u n ty
C o m m is s io n e r s , F r a n k P . M e d fo r d , P r e s id e n t , fo r $ 1 2 ,0 0 0
c o u p o n ja il b o n d s . D e n o m in a t io n $ 1 ,0 0 0 . I n t e r e s t
J a n u a r y a n d J u ly . M a t u r i t y $ 1 ,0 0 0 y e a r ly o n J u ly 1 f r o m
1 9 0 7 to 1 9 1 8 in c lu s iv e .
C h a t f i e l d T o w n s h i p , C r a w f o r d C o u n t y , O h i o . — B ond S ale.
— T h e f o llo w in g b id s w e r e r e c e iv e d o n J u ly 1 3 fo r t h e $ 1 9 ,0 0 0
5 % p ik e -r o a d im p r o v e m e n t b o n d s , a d e s c r ip t io n o f w h ic h
w a s g i v e n i n V . 8 2 , p. 1 5 1 2 :

b o n d s d e s c r ib e d in V . 8 2 , p . 1 5 1 1 , w e r e a w a r d e d to W m . D .
P e r k i n s & C o . o f S e a t t l e a t p a r f o r 5 ) ^ s . T h e S e a t t l e T r u s t J o h n B a u m g a r d n e r , C h a t fie ld . 8 1 9 , 7 7 0 0 0 | S e e u r . S a v . B k . & T r . C o . , T o l e d o . 8 1 9 ,5 1 7 0 0
& „ T i t l e C o . ) o f S e a t t l e b i d $ 1 , 7 0 0 f o r 6 % b o n d s . H:
D a n ie l K e i t h , C h a t fi e l d .
. . 1 9 ,7 6 0 0 0 H a y d e n , M ille r & C o . , C l e v e . . 1 9 ,3 9 5 0 0
B u c y r u s C i t y B a n k , B u c y r u s . _ 1 9 ,7 5 0 0 0 , W . J . H a y e s & S o n s , C le v e la n d 1 9 ,2 9 1 0 0
Bethel, Clermont County, Ohio.— B o n d Sale.-— O n J u l y ) 1 6 Otis & H o u g h , C l e v e l a n d ______ 1 9 ,5 7 3 75
C h i p p e w a F a l l s , C h i p p e w a C o u n t y , W i s . — B on d S a le . —
t h e $ 2 ,0 0 0 4 % 1 -1 0 -y e a r ( s e r ia l) c o u p o n s id e w a lk b o n d s d e ­
s c r ib e d in Y . 8 3 , p . 1 1 2 , w e r e a w a r d e d t o t h e F ir s t N a t io n a l O n J u ly 1 7 t h e $ 6 0 ,0 0 0 4 % 1 0 -2 0 -y e a r ( o p t io n a l) c o u p o n
B a n k o f B e t h e l a t p a r a n d a c c r u e d i n t e r e s t . N o o t h e r b i d s h i g h - s c h o o l b o n d s d e s c r i b e d i n V . 8 2 , p. 1 5 1 2 , w e r e a w a r d e d
t o S . A . K e a n o f C h ic a g o a t 1 0 0 .2 0 — a b a s is o f a b o u t 3 .9 7 6 %
w e r e ^ r e c e iv e d . !
'Y W L m ■
t
o th e o p t io n a l d a te a n d 3 .9 8 6 % to fu ll m a t u r it y . S e c u r itie s
Biloxi, Miss.— B ond S a le. — O n J u l y 1 7 t h e $ 1 2 , 0 0 0 ^ 4 ) ^ %
c o u p o n r e fu n d in g c it y -h a ll b o n d s d e s c r ib e d in V . 8 3 , p . 1 1 2 a r e d a te d J u ly 1 7 1 9 0 6 . I n t e r e s t J a n u a r y a n d J u ly .
C h is h o lm S c h o o l D i s t r i c t , S a in t L o u is C o u n t y , M i n n .—
a n d V . 8 2 , p . 1 5 1 1 , w e r e a w a r d e d t o t h e P e o p le ’s B a n k a t p a r .
L oan P ro p o sed . — T h i s d i s t r i c t p r o p o s e s t o b o r r o w $ 7 5 , 0 0 0
Boonton, Morris County, N. J.— B ond S a le. — O n J u n e 2 5 f o r s c h o o l - b u i l d i n g p u r p o s e s . W e a r e i n f o r m e d t h a t i t i s
$ 9 ,0 0 0 4 % 2 0 -y e a r s t r e e t -im p r o v e m e n t b o n d s w e r e a w a r d e d e x p e c t e d t h a t t h e lo a n w ill b e o b t a in e d f r o m t h e S t a t e .
t o t h e M o r r is C o u n t y S a v in g s B a n k o f M o r r is t o w n a t 1 0 0 .2 5 ,
C i n c i n n a t i , O h i o . — B ond S a le. — O n J u l y 1 2 t h e S i n k i n g
a b a s is o f a b o u t 3 .9 8 2 % . T h is w a s t h e o n ly b i d . D e n o m i ­ F u n d T r u s t e e s p u r c h a s e d a t p a r $ 2 5 0 ,0 0 0 3 .6 5 % 2 0 -4 0 -y e a r
n a t io n $ 5 0 0 . D a t e J u ly 2 1 9 0 6 . I n t e r e s t J a n . 1 a n d J u ly 1 (o p t io n a l) c o u p o n a d d it io n a l w a te r -w o r k s b o n d s . T h e s e
a t t h e B o o n t o n N a t i o n a l B a n k in B o o n t o n . • • 1 ■ ■ ■ • b o n d s t a k e t h e p la c e o f t h e $ 2 5 0 ,0 0 0 3 ) ^ % s o ffe r e d o n J u ly 1 0
Bratenahl School District, CuyahogaT.County, Ohio.— w i t h o u t s u c c e s s . S e e V . 8 2 , p . 1 3 9 4 , f o r d e s c r i p t i o n o f
b on ds.
B ond s V oted . — T h i s d i s t r i c t o n J u l y 1 0 v o t e d t o i s s u e $ 1 2 , 0 0 0
B ond O fferin g . — 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 1 2 m . ,
b o n d s fo r a n e w s c h o o l-h o u s e .
A u g . 1 3 , b y W . C . C u lk in s , C ity A u d ito r , fo r th e fo llo w in g
Brattleboro (Village), Vt. — B onds P ro p o sed . — T h i s v i l l a g e , b o n d s :
w h i c h c o m p r i s e s p r o b a b l y f o u r - f i f t h s o f t h e g r a n d l i s t o f t h e $ 5 0 0 ,0 0 0 3 . 6 5 % 1 0 - y e a r s t r e e t - i m p r o v e m e n t ( c i t y 's p o r t io n ) b o n d s .
t o w n o f B r a t t l e b o r o , h a s m a d e a n a g r e e m e n t w i t h t h e l o c a l 2 5 0 .0 0 0 3 . 6 5 % 3 0 - y e a r s e w e r a n d d i t c h ( c i t y ’ s p o r t i o n ) b o n d s .
w a te r c o m p a n y w h ic h w ill p r o b a b ly r e s u lt, w e a r e in fo r m e d ,
D e n o m in a tio n $ 5 0 0 . In te r e s t s e m i-a n n u a l. A c c r u e d in ­
in t h e p u r c h a s e o f t h e p l a n t b y t h e v i l l a g e . I t i s s t a t e d , t e r e s t t o b e p a i d b y p u r c h a s e r . C e r t i f i e d c h e c k f o r 5 % o f t h e
h o w e v e r , t h a t th e d e a l w ill n o t b e c o n s u m m a te d u n til a fte r a m o u n t o f b o n d s b id fo r , p a y a b le to th e C ity A u d it o r , r e ­
th e m e e tin g o f th e L e g is la tu r e in th e fa ll a n d th e is s u a n c e o f q u ir e d . B id s to b e m a d e o n b la n k s fu r n is h e d b y th e
w a t e r -p la n t -p u r c h a s e b o n d s w ill n o t b e c o n s id e r e d , t h e r e ­ A u d it o r .
f o r e , u n t i l t h e l a t t e r p a r t o f ^ t h i s ' y e a r o u e a r l y i n 1 9 0 7 . •C l a y C e n t e r , C l a y C o u n t y , K a n . — B onds V oted . — A n e l e c ­
Brewster, Nobles County, Minn.— B ond O fferin g . — P r o ­ t i o n h e l d i n t h i s c i t y J u l y 1 2 r e s u l t e d i n f a v o r o f a p r o p o s i ­
p o s a ls w ill b e r e c e iv e d u n til 8 p . m ., A u g . 6 , b y th e V illa g e t io n t o is s u e m u n ic ip a l-e le c t r ic -lig h t b o n d s .
C o u n c il fo r $ 3 ,0 0 0 1 0 -y e a r b o n d s a t n o t e x c e e d in g 5 % in ­
C o l c h e s t e r S o u t h , E s s e x C o u n t y , O n t . — D ebenture S a le. —
te r e s t. O tto K n u t h is jjV illa g e R e c o r d e r .
O n J u ly 1 0 t h e $ 4 ,9 4 8 5 0 5 % 1 -1 0 -y e a r (s e r ia l) d r a in a g e
U^Brundidge, Pike County, Ala.— B onds N ot Y et S old . — N o d e b e n t u r e s o f f e r e d o n t h a t d a y ( V . 8 2 , p . 1 5 1 2 ) w e r e a w a r d e d
a w a r d h a s y e t b e e n m a d e o f t h e $ 1 2 ,0 0 0 5 % 2 0 -y e a r c o u p o n t o A e m iliu s J a r v is & C o . o f T o r o n t o a t 1 0 1 .8 1 a n d a c c r u e d
in te r e s t. F o llo w in g a r e th e b id s :
w a te r -w o r k s b o n d s o ffe r e d w it h o u t s u c c e s s o n M a r c h 5 .—
A e m i i u s J a r v is & C o . , T o r o n t o _ S 5 ,0 3 S O O lW m . C . B r e n t , T o r o n t o ........... - - S 5 . 0 0 2 6 0
Y . 82, p . 648.
W o o d , G u n d y & C o . , T o r o n t o . - 5 ,0 1 7 50
Bucyrus, Ohio.— B ond O fferin g . — P r o p o s a l s 7 w i l l b e r e ­
C o l u m b u s , O h i o . — B ond s A u th orized . — O n J u l y 9 t h e C i t y
c e iv e d u n til 1 2 m . A u g . 1 0 b y W . H . la m s , C it y A u d it o r , fo r C o u n c il p a s s e d o r d in a n c e s p r o v id in g fo r th e is s u a n c e o f t h e
th e fo llo w in g b o n d s :
fo llo w in g b o n d s :
$ 6 ,0 0 0 4 %

c o u p o n P r o s p e c t S t. im p r o v e m ’ t assess, b o n d s . A u th o r it y S e ctio n 15362 8 1 o f t h e R e v i s e d S t a t u t e s a n d O r d in a n c e N o . 3 1 5 , p a s s e d b y t h e C i t y
C o u n c il J u n e 9 1 9 0 6 (s e e V . 8 3 , p . 5 1 ) .
D e n o m in a t i o n $ 5 0 0 .
M a t u r it y
$ 5 0 0 y e a r l y f r o m S e p t . 1 1 9 0 7 t o S e p t . 1 1 9 1 8 i n c lu s i v e .
3 ,7 0 0 4 % c o u p o n P r o s p e c t S t r e e t i m p r o v e m e n t ( c i t y ’ s p o r t i o n ) b o n d s .
A u th o r ity
S e c t i o n 2 8 3 5 o f t h e R e v i s e d S t a t u t e s a n d O r d in a n c e N o . 3 1 4 . p a s s e d b y
t h e C i t y C o u n c il J u n e 9 1 9 0 6 .
D e n o m in a t i o n $ 5 0 0 , e x c e p t o n e b o n d
fo r $20 0.
M a t u r it y $ 7 0 0 S e p t . 1 1 9 0 7 a n d S 5 0 0 y e a r l y o n S e p t . 1 f r o m
1 9 0 8 t o 1 9 1 3 in c lu s i v e

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4 % c o u p o n J e f fe r s o n A v e n u e a s s e s s m e n t b o n d s .
4 % c o u p o n H ic k o r y S tr e e t a ssessm en t b o n d s .
4 % c o u p o n C h it t e n d e n A v e n u e a s s e s s m e n t b o n d s .
4 % c o u p o n H i g h la n d S t r e e t a s s e s s m e n t b o n d s .
4 % c o u p o n R ic h a r d A v e n u e assessm en t b o n d s.
4 > 4% c o u p o n sew er assessm ent b o n d s.
4 ) 4 % c o u p o n sew er assessm en t b o n d s
4 ) 4 % c o u p o n sew er assessm ent b o n d s.
4 3 4 % c o u p o n sew er assessm en t b o n d .

D e n o m in a t io n $ 1 ,0 0 0 . D a t e n o t la te r t h a n O c t . 1 1 9 0 6 .
T h e a b o v e b o n d s a re d a te d S e p t. 1 1 9 0 6 . In te r e st s e m i­
a n n u a l. C e r tifie d c h e c k fo r $ 1 0 0 , p a y a b le t o t h e C it y T r e a s ­ I n t e r e s t M a r c h 1 a n d S e p t . 1 a t t h e o ffic e o f t h e C it y T r e a s ­
u r e r . M a tu r ity o f th e s tr e e t a s s e s s m e n t b o n d s m e n tio n e d
u r e r , is r e q u ir e d . P u r c h a s e r to p a y a c c r u e d in te r e s t.
a b o v e is S e p t. 1 1 9 1 7 , s u b je c t to c a ll a fte r S e p t. 1 1 9 0 7 ; o f th e
B onds A u th orized . — O r d i n a n c e N o . 3 1 7 , p a s s e d b y t h e
C i t y C o u n c il o n J u ly 6 a u t h o r iz e s t h e is s u a n c e o f $ 5 ,7 0 0 4 % s e w e r a s s e s s m e n t b o n d s S e p t . 1 1 9 0 8 , s u b je c t t o c a ll a f t e r
c o u p o n L u c a s S t r e e t i m p r o v e m e n t ( c i t y ’s p o r t i o n ) b o n d s . S e p t . 1 1 9 0 7 .
D e n o m in a tio n $ 5 0 0 , e x c e p t o n e b o n d fo r $ 2 0 0 . D a te S e p t.
C o n s h o h o c k e n , M o n t g o m e r y C o u n t y , P a . - — B on d O fferin g .
1 1 9 0 6 . I n t e r e s t s e m i-a n n u a l. M a t u r it y $ 7 0 0 S e p t. 1 1 9 0 7 — P r o p o s a ls w ill b e r e c e iv e d u n t il J u ly 2 3 b j7 th e W a y s a n d
a n d $ 1 ,0 0 0 y e a r ly f r o m S e p t . 1 1 9 0 8 t o S e p t . 1 1 9 1 2 in c lu s iv e . M e a n s C o m m it t e e f o r $ 1 4 ,0 0 0 4 % c o u p o n b o n d s . D e n o m i ­
B u f f a l o , N . Y . — B ond s A u th orized .— T h e f o l l o w i n g b o n d s n a t i o n $ 1 , 0 0 0 . I n t e r e s t F e b . 1 a n d A u g . 1 . M a t u r i t y
th ir ty y e a r s . B o n d s a r e fr e e fr o m ta x e s . C e r tifie d c h e c k ,
w e re r e c e n tly a u th o r iz e d :
o r d r a ft, fo r 5 % o f th e a m o u n t o f b o n d s b id fo r r e q u ir e d .
$ 1 5 0 ,0 0 0 3 ) 4 % 1- 5 - y e a r (s e r ia l) B u ff a l o R i v e r i m p r o v e m e n t b o n d s .
U n d e r o r d i­
A c c r u e d in te r e s t fr o m A u g . 1 1 9 0 6 to b e p a id b y p u r c h a s e r .
n a n c e t h e s e b o n d s a r e t o b e t a k e n a t p a r b y t h e C i t y C o m p t r o l le r in
tru s t fo r th e P a rk B o n d R e d e m p tio n S in k in g F u n d .
R ic h a r d H . B a te is C h a ir m a n o f th e W a y s a n d M e a n s C o m ­
3 0 0 ,0 0 0
3 ) 4 % 2 0 .y e a r s c h o o l b o n d s .
T h e a b o v e s e c u r itie s a r e d a te d A u g . 1 1 9 0 6 . I n te r e s t m itte e .
C o o k C o u n t y ( P . O . C h i c a g o ) , I I I . — B ond O fferin g . — P r o ­
s e m i-a n n u a l.
p o s a ls w ill b e r e c e i v e d u n t i l 1 :3 0 p . m . J u ly 3 1 , a t t h e o ffic e
B u n k i e , A v o y e l l e s P a r i s h , L a . — B ond E lection . — A p r o p o ­ o f t h e S u p e r i n t e n d e n t o f P u b l i c S e r v i c e f o r $ 4 7 5 , 0 0 0 4 %
s it io n t o is s u e $ 1 8 ,0 0 0 5 % 5 -2 0 -y e a r ( o p t io n a l) w a t e r -w o r k s g o ld c o u r t -h o u s e b o n d s . T h e s e b o n d s a r e t h e u n s o ld p o r t io n
b o n d s w ill b e s u b m it t e d t o t h e v o t e r s o f t h is t o w n o n A u g . 1 0 . o f t h e $ 9 5 0 ,0 0 0 c o u r t -h o u s e b o n d s o ffe r e d M a y 2 8 , a t w h ic h
C a d d o M ills I n d e p e n d e n t S c h o o l D i s t r i c t , H u n t C o u n t y , t i m e o n ly $ 4 7 5 ,0 0 0 o f t h e b o n d s w e r e p la c e d . S e e V . 8 2 ,
$ 1 ,0 0 0 . D a t e S e p t . 1 1 9 0 5 .
Tex.— B ond O fferin g . — 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 4 p . m . p . 1 3 3 5 . D e n o m i n a t i o n
J u l y 2 8 f o r t h e $ 7 , 0 0 0 5 % 1 0 - 4 0 - y e a r ( o p t i o n a l ) s c h o o l ­ M a t u r i t y $ 2 5 , 0 0 0 j '-e a r l y o n S e p t . 1 f r o m 1 9 0 7 t o 1 9 2 5 i n ­
b u ild in g b o n d s v o te d o n M a r c h 2 4 ( V . 8 2 , p . 7 6 5 ). I n te r e s t c lu s iv e . C e r tifie d c h e c k fo r 2 % o f th e a m o u n t b id , p a y a b le
a n n u a lly a t A u s t in a n d G r e e n v ille . J . A . J e n n in g s is P r e s i­ to E d w a r d J . B r u n d id g e , P r e s id e n t B o a r d o f C o m m is s io n e r s ,
d e n t o f th e d is t r ic t.
^
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•. ■ j s r e q u i r e d . B o n d s w i l l b e d e l i v e r e d A u g . 6 .
C o u r t l a n d , S o u t h a m p t o n C o u n t y , V a . — B ond S a le . — O n
^Caldwell, Essex County, N . J . — B ond S a le. — O n J u l y 1 6
t h e $ 1 0 , 0 0 0 4 % 2 6 - y e a r w a t e r - e x t e n s i o n b o n d s d e s c r i b e d i n iJ n u l yV . 1 t8 h 2 e, $ p 5 . , 0 10 50 1 62 ,% w r ee rg e i s ta e wr ea dr d s ec dh o to o l - h C o ou r s n e e bl i ou ns d Ts h d o e ms c a r si b eo d f
V . 8 2 , p . 1 4 5 4 , w e r e a w a r d e d to th e C a ld w e ll N a t io n a l B a n k
o f C a ld w e ll a t p a r a n d a c c r u e d in t e r e s t . B id s w e r e a ls o P o r t N o r fo lk a t 1 0 0 .2 5 .
r e c e iv e d f r o m H o w a r d I v . S t o k e s o f N e w Y o r k C i t y — 1 0 1 .6 2 2
D a y t o n , C a m p b e l l C o u n t y , K y . — B id s. — F o l l o w i n g a r e
f o r 4 j/£ s a n d f r o m H . L . C r a w f o r d & C o . o f N e w Y o r k C i t y —
t h e b id s r e c e iv e d o n J u ly 1 6 f o r t h e $ 2 5 ,0 0 0 4 % c o u p o n r e ­
1 0 2 .0 1 0 fo r 4 ^ s .
fu n d in g s t r e e t -im p r o v e m e n t b o n d s d e s c r ib e d in V . 8 3 , p . 1 1 3 :

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u l y

21 1906. J

THE CHRONICLE.

B a n k o f D a y t o n . D a y t o n ______$ 2 5 ,2 7 7 0 0 A lb e r t K l e v b o l t e & C o . . C i n e . $ 2 5 ,2 2 0 0 0
e w p o r t N a t . B a n k . N e w p o r t . 2 5 ,2 5 0 0 0 i S e a s o n g o o d & M a y e r . C in e ir u 2 5 ,1 9 5 5 0

T h e a b o v e b id s w e r e r e fe r r e d to th e C it y A t t o r n e y a n d th e
F in a n c e a n d A u d itin g C o m m itte e .
D a y t o n , O h i o . — B ond S a le. — O n J u l y 1 2 $ 1 1 5 , 0 0 0 4 %
c o u p o n w a te r b o n d s w e re a w a rd e d to th e C e n tra l T r u st &
S a f e D e p o s i t C o . o f C in c in n a t i f o r S I 1 6 ,5 5 2 5 0 — a b a s is o f
a b o u t 3 .8 0 % . D e n o m in a t io n $ 1 ,0 0 0 . D a t e J u n e 1 1 9 0 6 .
I n t e r e s t s e m i-a n n u a lly in N e w jY o r k C i t y . M a t u r it y $ 1 5 ,0 0 0
i n t h r e e y e a r s a n d $ 1 0 ,0 0 0 y e a r ly t h e r e a ft e r . T h e f o llo w in g
b id s w e re r e c e iv e d :
C e n T r & S . D e p . C o . . C i n . _ o $ 1 1 6 ,5 5 2 oC H O tis & H o u g h , C l e v e l a n d . . . a $ 1 1 5 , 7 7 0 50
D a y t o n S a v . & T r . C o ., D a y .
1 1 6 ,9 1 5 001 W e l l, ROtHl & C o . , C l n c l n . . . a l l s , 7 5 7 50
a A n d In terest.

B ond S a le. — O n J u l y 1 2 t h e $ 8 , 2 0 0 5 % c o u p o n O a k S t r e e t
p a v in g a n d t h e $ 1 3 ,2 0 0 4 % c o u p o n G r e a t M ia m i B o u le v a r d
s t o r m -w a t e r -s e w e r b o n d s d e s c r ib e d in V . 8 2 , p . 1 4 5 4 , w e r e
a w a r d e d to th e T e u to n ia N a tio n a l B a n k o f D a y to n a n d th e
C ity N a tio n a l B a n k o f D a y t o n r e s p e c tiv e ly .
D e n n i s o n , O h i o . — B onds D efea ted . — P r o p o s i t i o n s t o i s s u e
$ 1 3 ,0 0 0 s e w e r a n d $ 2 5 ,0 0 0 h a ll b o n d s f a ile d t o c a r r y a t a
r e c e n t e le c tio n .
D u f u r , W a s c o C o u n t y , O r e . — B on d S a le. — O n J u l y 6 t h e
8 7 .0 0 0 1 7 } 4 -y e a r ( a v e r a g e ) w a t e r b o n d s d e s c r ib e d in V . 8 2 ,
p . 1 5 1 2 , w e r e a w a r d e d t o M o r r is B r o s , o f P o r t la n d a t 1 0 2 .9 6 7
fo r 6 s . F o llo w in g a r e th e b id s :
M o r r is B r o s . . P o r t l a n d ( f o r 6 s ) . 8 7 ,2 0 7 7 5 I X o r t h w . G u a r . & T r . C o . ( f o r 7 . 6 0 s ) . . p a r
B a n k ers' & L u m b erm en s’ B a n k ,
I S . A . K e a n , C h ic a g o ( f o r 6 s ),
P o r t l a n d ( f o r 6 s ) ........................... 7 191 001
p a r a n d $10 0 d is c o u n t

B o n d s a r e d a te d J u ly 6 1 9 0 6 .
D u l u t h , M i n n . — B onds N ot S old . — N o s a l e w a s m a d e o n
J u ly 9 o f t h e $ 3 7 5 ,0 0 0 4 % w a t e r a n d li g h t -p la n t -e x t e n s i o n
b o n d s d e s c r ib e d in V . 8 2 , p . 1 4 5 4 .
D u n k i r k , C h a u t a u q u a C o u n t y , N . Y . — B onds N ot Y et Sold.
— T h e C i t y T r e a s u r e r h a s n o t y e t d is p o s e d o f t h e $ 3 0 ,0 0 0 4 %
c o u p o n p u b lic -im p r o v e m e n t (g e n e r a l d e b t ) b o n d s d e s c r ib e d
in V . 8 2 , p . 1 3 3 6 .
E a s t L iv e r m o r e (P . O . L iv e r m o r e F a lls ), A n d r o s c o g g in
C o u n t y , M e . — T o A ctio n Y et T a k en . — W e a r e a d v i s e d t h a t
n o a c tio n h a s y e t b e e n ta k e n in th e m a tte r o f is s u in g th e
3 k £ % 2 0 -3 0 -y e a r ( o p t io n a l) s e w e r a g e a n d s c h o o l-h o u s e
b o n d s m e n tio n o f w h ic h w a s m a d e in V . 8 2 , p . 9 4 7 .
E a s t P i t t s b u r g h , A l l e g h e n y C o u n t y , P a . — B on d S a le . —
O n J u ly 1 6 t h e $ 5 7 ,0 0 0 4 J ^ % c o u p o n s t r e e t -im p r o v e m e n t
b o n d s d e s c r ib e d in Y . 8 3 , p . 1 1 3 , w e r e a w a r d e d t o E . H . G a y
& C o . o f N e w Y o r k C i t y a t 1 0 4 .1 9 9 a n d a c c r u e d in t e r e s t .
T h e b id s w e r e a s fo llo w s :
E . H . G a y & C o . , N e w Y o r k . . $ 5 9 ,3 9 3 7 0 ! H a y d e n , M ille r & C o . , C l e v e . .$ 5 7 , 6 2 5 0 0
L a m p r e c h t B r o s . & C o . , C l e v e . 5 7 ,8 5 5 0 0 i F . L . F u ll e r & C o . , C l e v e l a n d . 5 7 ,5 7 5 0 0
E m e r y , A n d e r s o n & C o ., C le v e . 5 7 ,7 9 0 0 0 i

E l D o r a d o S p r i n g s , C e d a r C o u n t y , M o . — B ond O fferin g . —
P r o p o s a ls w ill b e r e c e iv e d u n t il J u ly 2 3 b y t h e C it y C le r k fo r
8 5 .0 0 0 5 % 1 0 -2 0 -y e a r ( o p t io n a l) ju d g m e n t -fu n d i n g b o n d s .
I n t e r e s t s e m i-a n n u a l. B o n d e d d e b t a t p r e s e n t $ 2 2 ,0 0 0 .
A s s e s s e d v a lu a t i o n f o r 1 9 0 4 $ 5 4 3 ,0 8 5 .
E l m e r , P o t t e r C o u n t y , P a . — B onds to B e Issu ed . — L o c a l
r e p o r t s s t a t e t h a t t h is b o r o u g h w ill is s u e $ 6 ,0 0 0 b o n d s fo r
th e e r e c tio n o f a b o r o u g h h a ll.
E m s w o r t h ( B o r o u g h ) , A l l e g h e n y C o u n t y , P a . — B ond Sale.
— T h is b o r o u g h , i t is s t a t e d , r e c e n t ly s o ld a n is s u e o f $ 3 5 ,0 0 0
4 % s tr e e t a n d s e w e r b o n d s t o E liz a b e t h Y. S t e v e n s o n o f
P itts b u r g h a t p a r .
/
E n i d , O k l a . — B ond E lectio n . — I t i s s t a t e d t h a t t h e C i t y
C o u n c il h a s d e c id e d to h o ld a n e le c tio n to v o t e o n th e q u e s ­
t i o n o f is s u in g $ 2 0 ,0 0 0 s c h o o l-b u ild in g b o n d s .
E s s e x C o u n t y ( P . O . S a l e m ) , M a s s .;— N ote S a le. — O f t h e
8 2 0 0 .0 0 0 1 -y e a r b r id g e n o t e s o ffe r e d b u t n o t s o ld o n J u n e 4
( V . 8 2 , p . 1 3 3 6 ) $ 1 0 ,0 0 0 h a v e b e e n a w a r d e d a t 3 % % d is ­
c o u n t a n d $ 1 3 5 ,0 0 0 a t 4 % d is c o u n t .
E s s e x C o u n t y ( P . O . N e w a r k ) , N . J . — Bond, S a le. — A n
is s u e o f $ 2 0 0 ,0 0 0 4 % 4 0 -y e a r c o u r t -h o u s e b o n d s d a t e d F e b . 1
1 9 0 6 w a s r e c e n tly p u r c h a s e d b y th e E s s e x C o u n ty S in k in g
F u n d C o m m is s io n a t p a r .
E v a n s t o n , C o o k C o u n t y , 1 1 1 . — B on d O fferin g . — P r o p o s a l s
w ill b e r e c e iv e d u n til 1 2 m . A u g . 1 b y W . E . K a p p le r , C it y
C o m p t r o lle r , f o r $ 2 5 ,0 0 0 4 % c o u p o n p u b lie -lib r a r y -b u ild in g
b o n d s . A u th o r ity , o r d in a n c e p a s s e d b y th e C o m m o n C o u n ­
c il O c t. 2 4 1 9 0 5 . D e n o m in a tio n $ 5 0 0 . D a te D e c . 1 1 9 0 5 .
I n t e r e s t s e m i-a n n u a lly a t t h e o ffic e o f t h e C it y T r e a s u r e r .
M a t u r i t y $ 2 ,5 0 0 y e a r ly o n D e c . 1 f r o m 1 9 1 5 t o 1 9 2 4 in c lu s ­
iv e . C e r tifie d c h e c k fo r th e fu ll a m o u n t o f th e b id , p a y a b le
to F . H . A n d e r s o n , C ity T r e a s u r e r , is r e q u ir e d . B o n d e d
d e b t , n o t in c lu d in g t h is is s u e , $ 1 1 0 ,1 0 0 . A s s e s s e d v a lu a ­
t i o n f o r 1 9 0 5 , S o ,4 5 6 ,4 4 5 .
E v e r e t t , M a s s . — T em porary L o a n . — O n J u l y 1 2 a l o a n o f
$ 1 0 0 ,0 0 0 in a n t ic ip a t io n o f t h e c o lle c t io n o f t a x e s w a s n e ­
g o tia te d w ith B la k e B r o s . & C o . o f B o s to n a t 4 .4 8 % d is ­
c o u n t a n d $ 1 p r e m iu m . L o a n m a t u r e s $ 5 0 ,0 0 0 in f o u r
m o n t h s a n d $ 5 0 ,0 0 0 in fiv e m o n t h s . T h e f o llo w in g b id s
w e re r e c e iv e d :
B la k e B ro s. <fc C o ., B o sto n . 4 . 1 8 % discou nt an d $1 p rem iu m .
B o n d <fk G o o d w in , B o s to n , 4 .5 6 % d iscou nt.
L o rln g . T o lm a n A: T u p p e r, B o sto n , 1 .6 8 % d isco u n t for $ 5 0 ,0 0 0 m atu rin g In four
m on th s.

F in d la y , H a n c o c k
C it y C o u n c il o n J u ly
is s u e o f $ 1 0 ,0 0 0 4 %
$ 5 0 0 . D a te J u ly 1

C o u n t y , O h i o . — Bonds A u th orized . —
2 p a s s e d a n o r d in a n c e p r o v id in g fo
w a t e r -e x t e n s io n b o n d s . D e n o m in a
1 9 0 6 . In te r e s t s e m i-a n n u a lly a t

T h e
r an
tio n
th e

173

C it y T r e a s u r y . M a t u r it y $ 5 0 0 e a c h s ix m o n th s fr o m J u ly
1 1 9 0 7 to J a n . 1 1 9 1 7 in c lu s iv e .
Fitchburg, Mass.— Temporary Loan.— T h i s p l a c e , i t i s
s t a t e d , r e c e n t ly b o r r o w e d $ 2 5 ,0 0 0 fo r f o u r m o n t h s a t !} % %
d is c o u n t.
Florence School District, Florence County, So. Car.—
Bonds Not Sold.— N o s a l e w a s m a d e o n J u l y 1 6 o f t h e $ 4 0 , 0 0 0

4 .M > % 1 - 2 0 - y e a r ( o p t i o n a l ) c o u p o n s c h o o l - b u i l d i n g b o n d s ,
a d e s c r ip tio n o f w h ic h w a s g iv e n in V . 8 2 , p . 1 4 5 5 .

Fort Bragg School District, Mendocino County, Cal.—
Bonds Not Sold.— T h e $ 5 , 0 0 0 5 % b o n d s o f f e r e d b u t n o t s o l d

o n J u n e 5 (V . 8 2 , p . 1 3 9 5 ) w e re o ffe r e d a g a in w ith o u t s u c c e s s
o n J u ly 3 . T h e r e w e r e n o b id d e r s .

Franklin County (P. O. Carnesville), Ga.—Bond Sale.—

W e a r e a d v is e d t h a t t h is c o u n t y h a s d is p o s e d o f t h e $ 5 0 ,0 0 0
4 } ^ % c o u r t-h o u s e b o n d s v o t e d o n J u n e 9 . M a t u r it y fr o m
1 9 0 8 to 1 9 2 8 in c lu s iv e .
Fredonia, N. Y .— B ond S a le. — O n J u l y 1 6 $ 1 2 , 0 0 0 4 %
1 -1 2 -y e a r (s e r ia l) r e g is te r e d e le c t r ic -lig h t -p la n t b o n d s d e ­
s c r ib e d in V . 8 3 , p . 1 1 3 , w e r e a w a r d e d to th e C itiz e n s ’ T r u s t
C o . o f F r e d o n ia a t p a r a n d a c c r u e d in te r e s t. B o n d s a re
d a te d J u ly 1 1 9 0 6 . T h e r e w e r e n o o th e r b id d e r s .
Fremont, Neb.— B ond E lection . — T h e e l e c t i o n t o v o t e o n
t h e q u e s t io n o f is s u in g t h e $ 5 0 ,0 0 0 5 % e le c t r ic -l ig h t s y s t e m
b o n d s m e n tio n o f w h ic h w a s m a d e in V . 8 2 , p . 1 3 9 5 , w ill
b e h e ld A u g . 1 . M a t u r it y J a n . 1 1 9 2 7 , s u b je c t t o c a ll a ft e r
fiv e y e a r s .
Fremont, Ohio.— B ond S a le. — O n J u l y 1 0 t h e f i v e i s s u e s
o f 4 % s tr e e t b o n d s , d e s c r ib e d in V . 8 2 , p . 1 3 9 6 , w e r e a w a r d e d
a s fo llo w s :

§ 1 0 ,4 0 0 4 % T iffin S t r e e t p a v i n g b o n d s
]A w a r d e d to th e C in cin n a ti T r u s t C o . fo r
1 5 ,0 0 0
4 % F r o n t S tre e t p a v in g b o n d s. )
$ 1 3 p r e m iu m .
1 3 ,7 6 9 4 % F r a n k lin S t r e e t p a v i n g b o n d s /
6 ,4 0 0 4 % S o u t h A r c h S t r e e t p a v i n g b o n d s — a w a r d e d t o t h e F r e m o n t S a v in g s
B a n k f o r $ 1 4 5 0 p r e m iu m .
2 ,5 0 0
4 % W h it e A v e n u e p a v in g b o n d s — a w a r d e d to th e C ro g h a n B a n k o f F r e ­
m o n t a t par.

Fulton (Town), Ohio County, W. Va.— B on d O fferin g . —
P r o p o s a ls w ill b e r e c e iv e d u n t il 1 0 a . m . A u g . 4 b y O t t o
S c h e n c k a n d H . A . H e n d e r s o n , B o n d C o m m is s io n e r s , c a r e
o f t h e S e c u r it y T r u s t C o . o f W h e e lin g , fo r t h e $ 1 2 ,0 0 0 5 %
s tr e e t -p a v in g b o n d s a u th o r iz e d a t th e e le c tio n h e ld J u n e 2 7
1 9 0 6 . D e n o m in a tio n $ 5 0 0 . D a te J u ly 1 1 9 0 6 . In te r e s t
a n n u a l. M a t u r it y J u ly 1 1 9 3 9 , s u b je c t to c a ll a fte r J u ly 1
1 9 1 6 . C e r tifie d c h e c k fo r 1 % o f th e b o n d s b id fo r r e q u ir e d .
Gaston County (P. O. Dallas), N. C.— B ond s N ot Y et

are
p o r tio n o f th
b o n d s o ffe re d
h ave n ot yet

a d v is e d t h a t t h e $ 2 0 0 ,0 0 0 b o n d s ( t h e u n s o ld
e $ 3 0 0 ,0 0 0 4 % 3 0 -y e a r r o a d -im p r o v e m e n t
w ith o u t s u c c e s s o n A u g . 1 7 — V . 8 1 , p . 1 5 7 1 )
b e e n p la c e d .
Geddes, So. Dak.— B id s . — F o l l o w i n g a r e t h e b i d s r e c e i v e d
o n J u ly 7 f o r t h e $ 8 ,0 0 0 5 % 2 0 -y e a r s e w e r a g e b o n d s a w a r d e d ,
a s s ta te d la s t w e e k , to th e S ta te o f S o u th D a k o ta :

S old.— W e

S t a t e o f S o u t h D a k o t a __________________ p a r | C . FI. C o ffin , C h i c a g o _____________ . - - $ 7 , 8 0 1
K a n e & C o . , M in n e a p o l is ______________ p a r IS . A . K e a n , C h ic a g o (le s s 2 % ) --------------- p a r
F . E . M a g r a w , S t . P a u l (le s s $ 1 5 0 ) - - - p a r |

Georgetown, Ohio.— B ond O fferin g . — P r o p o s a l s w i l l b e r e ­
c e iv e d u n til 1 2 m . A u g . 1 4 b y W m . A . E y la r , V illa g e C le r k ,
f o r $ 6 , 0 0 0 4 x/ z% c o u p o n v i l l a g e - h a l l b o n d s . A u t h o r i t y
S e c tio n 2 8 3 5 o f th e R e v is e d S ta tu te s . D e n o m in a tio n $ 5 0 0 .
D a te J u n e 1 1 9 0 6 . I n te r e s t p a y a b le a t th e V illa g e T r e a s ­
u r e r ’s o f f ic e . B o n d s a r e t a x - e x e m p t . C e r t i f i e d c h e c k f o r
1 0 % , p a y a b le to th e V illa g e C le r k , is r e q u ir e d . B o n d e d
d e b t , in c lu d in g t h is is s u e , $ 2 1 ,0 0 0 . A s s e s s e d v a lu a t io n
$ 6 1 2 ,7 3 5 .
G l o u c e s t e r , N . J .— L oa n A u th orized .— I t i s s t a t e d t h a t t h e
C it y C o u n c il h a s d e c id e d t o b o r r o w $ 1 5 ,0 0 0 fo r c u r r e n t e x ­
p en ses.
G r a n d R a p i d s , M i c h . — B ond s P ro p o sed . — T h e W a y s a n d
M e a n s C o m m itte e o f th e C it y C o u n c il is c o n s id e r in g th e
is s u a n c e o f a b o u t $ 3 0 0 ,0 0 0 d it c h -c o n s t r u c t io n a n d s t r e e t p a v in g b o n d s .
G r a n g e r S c h o o l D i s t r i c t , Y a k i m a C o u n t y , W a s h . — B onds
Not to B e Issu ed at P r esen t. — W e are a d v i s e d t h a t n o a c t i o n
w ill b e t a k e n in t h e m a t t e r o f is s u in g t h e h ig h -s c h o o l-b u ild in g
b o n d s v o t e d o n J u n e 2 8 ( V . 8 3 , p . 5 3 ,) u n t il S e p t e m b e r o r
O c to b e r.
Green S p r i n g , S e n e c a C o u n t y , O h i o .— B ond E lection P r o ­
p osed . — T h e q u e s t i o n o f c a l l i n g a n e l e c t i o n t o v o t e o n t h e
is s u a n c e o f $ 2 ,5 0 0 t o w n -h a ll-r e p a ir b o n d s is b e in g c o n s id e r e d .
Greenville, Darke C o u n t y , O h i o .— B ond O ffering.- — P r o ­
p o s a ls w ill b e r e c e iv e d u n t il 1 2 m . A u g . 4 b y J . C . K a t z e n b e r g e r , C it y A u d i t o r , fo r $ 2 3 ,3 4 5 4 % s t r e e t -im p r o v e m e n t
( c i t y ’s p o r t i o n ) b o n d s . A u t h o r i t y S e c t i o n 2 8 3 5 o f t h e R e ­
v is e d S ta tu te s . D e n o m in a tio n $ 5 0 0 , e x c e p t o n e. b o n d fo r
$ 3 4 5 . D a te S e p t. 1 1 9 0 6 . In te r e s t s e m i-a n n u a l. M a ­
t u r it y $ 2 ,8 4 5 M a r c h 1 1 9 0 7 , $ 2 ,5 0 0 S e p t . 1 1 9 0 7 a n d $ 2 ,5 0 0
o n M a r c h 1 a n d $ 2 ,0 0 0 o n S e p t . 1 e a c h y e a r f r o m 1 9 0 t o
1 9 1 1 in c lu s iv e . C e r tifie d c h e c k fo r $ 3 0 0 , p a y a b le to th e
C ity T r e a s u r e r , is r e q u ir e d . P u r c h a s e r to p a y a r u e d
in te r e s t.
Hamilton, Butler County, O h i o .— B ond O fferin g. P r o p o s a ls w ill b e r e c e iv e d u n til 1 2 m . A u g . 1 6 b y T lia d . $ n u b ,
C ity A u d ito r , fo r th e fo llo w in g b o n d s
1 9 0 0.
$75,587 45 4J4% street assessment bonds, dated \uk edI June
1 Inte
nances Nos. 193 to 200 Inclusive, paannual. Maturity one-tenth yearly
d July
•' u>
55.000 00 4% street-improvement (city's portion) bond-, d.it ■a
Authority Ordinance No. 187, passed June „n ; '
semi-annually at tire Second National Bank oi nan
lurlty Ofteen years

174

THE CHRONICLE.

T h e a m o u n t o f a s s e s s m e n t b o n d s m e n tio n e d a b o v e m a y b e
r e d u c e d p r o v id e d a n y o f th e a s s e s s m e n ts a r e p a id w ith in th e
t im e a llo w e d b y o r d in a n c e . C e r tifie d c h e c k fo r 5 % o f th e
a m o u n t b id , p a y a b le to th e C ity T r e a s u r e r , is r e q u ir e d .
A c c r u e d in te r e s t to b e p a id b y p u r c h a se r .
H a v e r h i l l , M a s s . — B ond S a le. — O n J u l y 1 6 t h e $ 1 9 , 0 0 0 4 %
5 -y e a r (a v e r a g e ) c o u p o n b o n d s d e s c r ib e d in V . 8 3 , p . 1 1 3 ,
w e re a w a r d e d to N . W . H a r r is & C o . o f N e w Y o r k C ity a t
1 0 0 .1 7 — a b a s is o f a b o u t 3 .9 6 3 % . F o llo w in g a r e t h e b id s :
N . W . H a r r is & C o . , N e w Y o r k . . 1 0 0 . 1 7 IS. A . K e a n , C h ic a g o -------------------------- 1 0 0 .0 2
R . L . D a y & C o ., B oston
........... 1 0 0 . 0 6 7 1

H e f l i n , A l a . — B onds N ot Y et S old . — T h i s c i t y i s s t i l l i n
t h e m a r k e t w it h t h e $ 5 ,0 0 0 5 % 2 0 -y e a r c o u p o n b o n d s d e ­
s c r ib e d in V . 8 2 , p . 6 4 9 .
H e m p s te a d S c h o o l D is tr ic t N o . 8 (P . O . R o o s e v e lt), N a s s a u
C o u n t y , N . Y . — B ond O fferin g . — P r o p o s a l s w e r e a s k e d f o r
u n til 8 p . m . y e s te r d a y (J u ly 2 0 ) b y R ic h a r d D e L a p , D is tr ic t
C le r k , fo r $ 1 5 ,0 0 0 4 % s c h o o l-b u ild in g b o n d s . D e n o m in a ­
t io n $ 1 ,0 0 0 . D a t e J u ly 1 5 1 9 0 6 . I n t e r e s t J a n . 1 a n d J u ly
1 a t t h e F ir s t N a t io n a l B a n k in F r e e p o r t . M a t u r it y $ 1 ,0 0 0
y e a r ly fr o m J a n . 1 1 9 1 1 to J a n . 1 1 9 2 5 in c lu s iv e . A t th e
h o u r o f g o in g to p r e s s th e r e s u lt o f th is o ffe r in g W a s n o t
k n ow n .
H e n r y e t t a , I n d . T e r . — B onds D efea ted . — T h e p r o p o s i t i o n
t o is s u e t h e $ 1 4 ,0 0 0 s c h o o l b o n d s , m e n t io n o f w h ic h w a s
m a d e in V . 8 3 , p . 5 3 , w a s d e fe a te d a t a r e c e n t e le c tio n .
H ig g in s v ille S c h o o l D is tr ic t N o . 2 , L a fa y e tte C o u n ty ,
M o . — B ond O fferin g .— 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 7 p . m .
A u g . 1 0 b y W a lte r M . M c E lr o y , S e c r e ta r y B o a r d o f E d u c a ­
t i o n , f o r $ 2 ,5 0 0 4 ) ^ % s c h o o l-b u ild in g b o n d s . A u t h o r i t y ,
e le c tio n h e ld J u n e 9 . D e n o m in a t io n $ 5 0 0 . I n t e r e s t a n n u a l.
M a t u r it y t w e n t y y e a r s , s u b je c t to c a ll a fte r t e n y e a r s .
H i g h P o i n t , G u i l f o r d C o u n t y , M . 0 . — B ond E lection . — T h i s
p la c e , it is s t a t e d , w ill h o ld a n e le c tio n S e p t . 6 to v o t e o n th e
q u e s t io n o f is s u in g $ 1 0 0 ,0 0 0 6 % 3 0 -y e a r b o n d s t o a id in
b u ild in g th e C a r o lin a G le n n a n & P e e D e e R a ilw a y . D e ­
n o m in a t io n $ 1 ,0 0 0 . I n t e r e s t a n n u a l.
H i l l s b o r o S c h o o l D i s t r i c t , H i l l C o u n t y , T e x . — B ond E lec­
tio n . — W e a r e i n f o r m e d t h a t a n e l e c t i o n w i l l b e h e l d a b o u t
A u g . 2 1 fo r th e p u r p o s e o f v o tin g o n a p r o p o s itio n to is s u e
$ 2 1 ,0 0 0 5 % 1 -4 0 -y e a r (s e r ia l) s c h o o l-b u ild in g b o n d s .
H o p e w e l l , M e r c e r C o u n t y , N . J . — Bonds N ot Y et S old . —
W e a r e a d v is e d t h a t n o s a le h a s y e t b e e n m a d e o f t h e $ 1 5 ,0 0 0
4 % w a t e r -im p r o v e m e n t b o n d s o ffe r e d w it h o u t s u c c e s s la s t
O c to b e r. S ee V . 8 1 , p . 1 6 2 4 .
H o u s t o n , M i s s . — Bond O fferin g . — P r o p o s a l s w i l l b e r e ­
c e iv e d b y J . M . G r iffin , T o w n C le r k , f o r $ 6 ,0 0 0 5 % c o u p o n
w a te r a n d lig h t p la n t e x te n s io n b o n d s . A u th o r ity C h a p te r
9 3 , C o d e o f 1 8 9 2 . D e n o m in a tio n s $ 1 0 0 a n d $ 5 0 0 . D a te
J u ly 1 1 9 0 6 . In te r e s t s e m i-a n n u a lly a t H o u s to n . M a tu r ity
$ 1 0 0 y e a r ly f r o m 1 9 0 7 t o 1 9 2 5 in c lu s iv e a n d $ 4 ,1 0 0 J u ly 1
1 9 2 6 . B o n d s a re e x e m p t fro m to w n ta x e s . B o n d e d d e b t,
in c lu d in g t h is is s u e , $ 3 0 ,6 0 0 . A s s e s s e d v a lu a t io n fo r 1 9 0 5 ,
$ 3 5 0 ,0 0 0 .
H o u s t o n , T e x . — B on d O fferin g . — P r o p o s a l s w i l l b e r e ­
c e iv e d u n t il A u g . 1 0 f o r t h e $ 4 3 4 ,7 0 0 5 % w a t e r -s y s t e m b o n d s
v o t e d o n J u n e 2 1 ( V . 8 2 , p. 1 5 1 3 ) . B o n d s m a t u r e J u l y 1 6
1946.
H o u s t o n H e ig h t s S c h o o l D is t r ic t , H a r r is C o u n t y , T e x .—
B on d E lectio n . — A n e l e c t i o n w i l l b e h e l d i n t h i s d i s t r i c t t o - d a y
( J u ly 2 1 ) t o v o t e o n t h e q u e s t io n o f is s u in g $ 1 5 ,0 0 0 5 %
3 0 -y e a r s c h o o l-b u ild in g b o n d s .
I n d e p e n d e n c e , J a c k s o n C o u n t y , M o . — B ond O fferfn g . —
P r o p o s a ls w ill b e r e c e iv e d u n t il J u ly 2 6 fo r t h e $ 5 ,0 0 0
s e w e r -s y s t e m a n d $ 2 5 ,0 0 0 e le c t r ic -l ig h t 4 % c o u p o n b o n d s
v o t e d o n J u ly 2 . D e n o m in a t io n $ 1 ,0 0 0 . D a t e A u g u s t 1 9 0 6 .
In te r e s t s e m i-a n n u a l. M a tu r ity tw e n ty y e a r s , s u b je c t to
c a ll a fte r fiv e y e a r s . W . A . S y m in g t o n is C it y T r e a s u r e r .
I s a n t i C o u n t y ( P . O . C a m b r i d g e ) , M i n n . — B ond S a le. —
O n J u ly 1 2 $ 6 ,7 1 9 5 8 5 % d r a in a g e b o n d s w e r e a w a r d e d t o
th e W e lls & D ic k e y C o . o f M in n e a p o lis fo r $ 2 6 8 5 0 p r e m iu m
— a b a s is o f a b o u t 4 .5 4 J ^ % . S e c u r itie s a r e d a te d A u g . 1
1 9 0 6 . I n te r e s t s e m i-a n n u a l. B o n d s m a tu r e in 1 9 1 7 .
■ I t t a B e n a , L e f l o r e C o u n t y , M i s s . — B ond O fferin g . — P r o ­
p o s a ls w ill b e r e c e iv e d u n til 1 2 m . A u g . 1 0 b y C . D u n n ,
T o w n T r e a s u r e r , f o r $ 1 5 ,0 0 0 5 % s c h o o l b o n d s . D e n o m in a ­
tio n s tw e n ty b o n d s o f $ 1 0 0 e a c h a n d tw e n ty -s ix b o n d s o f
$ 5 0 0 e a c h . D a te J u ly 3 1 9 0 6 . In te r e s t s e m i-a n n u a lly a t
t h e o ffic e o f t h e T o w n T r e a s u r e r . M a t u r it y $ 1 0 0 y e a r ly o n
J u ly 1 f r o m 1 9 0 7 t o 1 9 2 5 in c lu s iv e a n d $ 1 3 ,1 0 0 o n J u ly 3
1926.
J a c k s o n , M i s s . — B onds A u th orized . — I t i s s t a t e d i n l o c a l
r e p o r t s t h a t t h e C i t y C o u n c il h a s d e c id e d t o is s u e $ 6 5 ,0 0 0
sch ool b on d s.
J e f f e r s o n C o u n t y ( P . 0 . S t e u b e n v i l l e ) , O h i o . — B ond S ale.
— O n J u ly 9 t h e $ 1 0 0 ,0 0 0 4 % 2 j^ - y e a r ( a v e r a g e ) f u n d in g
b o n d s d e s c r ib e d in V . 8 2 , p . 1 3 9 6 , w e r e a w a r d e d to th e N a ­
tio n a l E x c h a n g e B a n k o f S te u b e n v ille a t p a r .
J o h n s t o w n S c h o o l D i s t r i c t , C a m b r i a C o u n t y , P a , — B ond
O fferin g . — 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 7 p . m . A u g . 1 4
b y t h e B o a r d o f S c h o o l C o n t r o lle r s fo r $ 1 0 0 ,0 0 0 4 % c o u p o n
im p r o v e m e n t b o n d s . D e n o m in a t io n $ 1 ,0 0 0 . D a t e J u n e 1
1 9 0 6 . I n te r e s t s e m i-a n n u a lly in J o h n s to w n . M a tu r ity
t h i r t y y e a r s , s u b je c t t o c a ll a f t e r f iv e j re a r s . B o n d s a r e t a x e x e m p t . C e r t ifie d c h e c k f o r $ 1 ,0 0 0 r e q u ir e d . J . D . W a lk e r
is P r e s id e n t o f th e B o a r d .

[VOL. LXXXIII.

K a l a m a z o o , K a l a m a z o o C o u n t y , M i c h . — Bond S a le. — T h e
$ 1 7 1 ,5 0 0 4 % 1 -7 -y e a r (s e r ia l) im p r o v e m e n t b o n d s o ffe r e d
b u t n o t s o ld o n J u n e 1 8 (V . 8 2 , p . 1 5 1 3 ) h a v e b e e n a w a r d e d ,
it is s t a t e d , t o W . J . H a y e s & S o n s o f C le v e la n d a t 1 0 0 .1 2 —
a b a s is o f a b o u t 3 .9 6 9 % .
K e a r n e y , N e b . — Bonds N ot Y et S old . — W e a r e a d v i s e d
t h a t n o d is p o s it io n h a s y e t b e e n m a d e o f t h e $ 5 0 ,0 0 0 5 -2 0 y e a r (o p tio n a l) r e fu n d in g s e w e r b o n d s b id s fo r w h ic h w e re
r e je c te d la s t O c t o b e r . S e e V . 8 2 , p . 1 7 5 .
K e n n e d y S c h o o l D i s t r i c t , K i t t s o n C o u n t y , M i n n . — Bonds
V oted . — I t i s s t a t e d t h a t t h i s d i s t r i c t r e c e n t l y v o t e d t o i s s u e
$ 2 ,5 0 0 s c h o o l-b u ild in g b o n d s .
K e t t le F a lls S c h o o l D is t r ic t , S t e v e n s C o u n t y , W a s h .—
Bond S a le. — W e a r e a d v i s e d t h a t t h e s c h o o l - b u i l d i n g b o n d s
r e c e n tly v o te d b y th is d is t r ic t h a v e b e e n s o ld .
K e n t w o o d , L a . — B onds N ot S old . — O w i n g t o i n j u n c t i o n
p r o c e e d in g s n o s a le w a s m a d e o n J u ly 1 6 o f t h e 8 3 5 ,0 0 0 5 %
im p r o v e m e n t b o n d s d e s c r ib e d in V . 8 2 , p . 1 4 5 6 .
L a k e w o o d , O h i o . — B onds D efea ted . — T h e e l e c t i o n J u l y 5
r e s u lt e d in t h e d e fe a t o f t h e p r o p o s it io n s t o is s u e 8 6 0 ,0 0 0
w a t e r a n d 8 2 5 ,0 0 0 e le c t r ic -lig h t b o n d s . T h e v o t e w a s 1 1 1
fo r to 4 2 7 a g a in s t o n th e w a te r p r o p o s itio n a n d 3 1 3 fo r to
2 3 3 a g a in s t o n th e e le c t r ic -lig h t p r o p o s it io n — t w o -t h ir d s v o t e
b e in g n e c e ssa r y to a u th o r iz e .
L a u r e l S c h o o l D i s t r i c t , M e n d o c i n o C o u n t y , C a l . — B onds
N ot S old. — A b i d o f p a r f o r o n e - h a l f o f t h e i s s u e w a s t h e o n l y
p r o p o s a l r e c e iv e d o n J u ly 3 f o r $ 2 ,0 0 0 b o n d s a d v e r t is e d t o
b e s o ld o n th a t d a y . T h e s e a r e th e s a m e b o n d s o ffe re d
w ith o u t s u c c e s s o n J u n e 5 ( V . 8 2 , p . 1 4 5 6 ).
L e b a n o n , L e b a n o n C o u n t y , P a . — B onds P ro p o s e d . — T h e
is s u a n c e o f $ 2 0 ,0 0 0 r e d e m p t io n b o n d s is b e in g c o n s id e r e d
b y th e C ity C o u n c il.
L e n n o x a n d A d d i n g t o n C o u n t y ( P . O . N a p a n e e ) , Q n t .—
D ebenture S a le. — O n J u l y 4 t h e $ 9 , 0 0 0 4 %
d e b e n tu re s m a ­
t u r in g J u ly 1 1 9 1 1 a n d t h e $ 9 ,0 0 0 4 % d e b e n t u r e s m a t u r in g
J u l y 1 1 9 1 2 o f f e r e d o n t h a t d a 3^ ( V T . 8 2 , p . 1 5 1 4 ) w e r e a w a r d e d
t o J o h n E n g lis h o f N a p a n e e a t 9 8 .3 3 3 a n d a c c r u e d in t e r e s t .
F o llo w in g a r e th e b id s :
J o h n E n g lis h , N a D a n .ee ____________$ 1 7 .7 0 0 | W m . C . B r e n t , T o r o n t o ------------------- $ 1 7 ,5 5 9
H . O ’ H a r a & C o . , T o r o n t o _______
1 , ,6 0 3 . D o m i n i o n S e e u r . C o r p . , T o r o n t o . 1 7 ,5 6 0

A ll b id d e r s a g r e e d to p a y a c c r u e d in te r e s t .
L i v e O a k , F l a . — B on d -O fferin g. — 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 til 3 p . m ., S e p t . 1 5 , b y th e B o a r d o f B o n d T r u s t e e s , M . L .
B u r n e t t , C h a ir m a n , fo r $ 2 0 0 ,0 0 0 5 % 3 0 -y e a r p u b lic -im p r o v e ­
m e n t b o n d s . T h e le g a lit y o f th is is s u e w ill b e a p p r o v e d b y
M e s s r s . D illo n & H u b b a r d o f N e w Y o r k C ity , a n d th e ir
o p in io n o r d u p lic a te th e r e o f w ill b e d e liv e r e d t o p u r c h a s e r .
B la n k fo r m s fo r b id s w ill b e fu r n is h e d b y th e C h a ir m a n o f
th e B o a rd o f B o n d T ru ste e s.
L i v i n g s t o n C o u n t y ( P . O . G - e n e s e o ) , N . Y . — B ond S a le. —
O n J u n e 2 2 $ 1 4 ,0 0 0 4 j ^ % ja il-c o n s t r u c t io n b o n d s w e r e
a w a r d e d to th e G e n e se e V a lle y N a tio n a l B a n k o f G e n e se o
fo r $ 1 4 ,1 5 0 . F o llo w in g a r e t h e b id s :
G e n e s e e V a l. N a t . B k . , G e n e s e o . . $ 1 4 . 1 5 0 1B a n k o f L i m a ( f o r 8 7 , 0 0 0 ) --------------- S 7 .0 1 0
S t a t e B a n k o f L im a ., L i m a _______ 1 4 ,0 7 0

S e c u r itie s a r e d a te d J u ly 1 1 9 0 6 . In te r e s t a n n u a lly o n
F e b . 1 . M a t u r i t y $ 7 ,0 0 0 F e b . 1 1 9 0 8 a n d $ 7 ,0 0 0 F e b . 1
1909.
L o c k i a n d , H a m i l t o n C o u n t y , O h i o . — B on d O fferin g . —
P r o p o s a ls w ill b e r e c e iv e d u n t il 1 2 m . A u g . 1 3 b y A lb e r t H .
R o le f , V illa g e C le r k , fo r $ 8 0 ,0 0 0 4 % c o u p o n s e w a g e b o n d s .
A u th o r ity S e c tio n s 2 8 3 5 , 2 8 3 5 6 , 2 8 3 6 a n d 2 8 3 7 o f th e R e ­
v is e d S ta tu te s , a s a m e n d e d . D e n o m in a tio n $ 5 0 0 . D a te
J u l y 1 1 9 0 6 . I n t e r e s t s e m i - a n n u a l . M a t u r i t y f o r t y 3r e a r s .
C e r tifie d c h e c k fo r 1 % o f th e a m o u n t o f b o n d s b id fo r , p a y ­
a b le to th e V illa g e T r e a s u r e r , is r e q u ir e d . A c c r u e d in te r e s t
to b e p a id b y p u r c h a s e r .
L o u i s a , L o u i s a C o u n t y , V a . — B ond E lectio n . — T h i s t o w n ,
i t is s t a t e d , w ill v o t e A u g . 9 o n a p r o p o s it io n t o is s u e 8 6 .0 0 0
5 % 3 5 - j re a r s i d e w a l k - e x t e n s i o n b o n d s .
L o w e r M o u n t B e th e l In d e p e n d e n t S c h o o l D is tr ic t, N o r th ­
a m p t o n C o u n t y , P a . — B ond O fferin g .— P r o p o s a l s w i l l b e r e ­
c e iv e d u n til 8 p . m . J u ly 2 7 b y J . F r e d . E n g le r , S e c r e ta r y
( P . O . E a s t o n R . F . D . N o . 1 ) , f o r $ 1 0 ,0 0 0 4 % c o u p o n b o n d s .
D e n o m in a tio n $ 1 0 0 . D a te A u g . 1 1 9 0 6 . I n te r e s t s e m i­
a n n u a lly a t t h e o ffic e o f t h e T r e a s u r e r o f t h e d is t r ic t . M a ­
t u r it y t w e n t y y e a r s , s u b je c t t o c a ll a fte r t e n y e a r s .
L u m p k i n , S t e w a r t C o u n t y , G - a . — Bonds V oted . — R e p o r t s
s ta te th a t th is p la c e o n J u ly 9 a u th o r iz e d th e is s u a n c e o f
$ 1 5 ,0 0 0 e le c t r ic -lig h t a n d s c h o o l-b u ild in g b o n d s . T h e v o t e
• w as 6 5 to 2 .
M a c L e o d , A l b e r t a . — D ebenture O fferin g . — P r o p o s a l s w i l l b e
r e c e iv e d u n til 1 2 m . J u ly 2 8 b y E . . - F . B r o w n , S e c r e ta r y T r e a s u r e r , f o r $ 9 5 ,0 0 0 5 % w a t e r -w o r k s , e le c t r ic -l ig h t a n d
s e w e ra g e d e b e n tu r e s . In te r e s t a n n u a lly a t th e U n io n B a n k
o f C a n a d a in M a c le o d . M a t u r i t y f o r t y j^ e a r s .
M c G o m b , M i s s . — B ond E lectio n . — T h e C i t y C o u n c i l h a s
d e c id e d to h o ld a n e le c tio n A u g . 4 to v o t e o n t h e is s u a n c e o f
$ 1 5 ,0 0 0 w a t e r a n d $ 2 5 ,0 0 0 e le c lr ic -l ig h t -p la n t b o n d s .
M a c o n , G a . — B ond E lection . — A s s t a t e d i n l a s t w e e k ’ s i s s u e ,
a n e le c tio n w ill b e h e ld J u ly 2 4 to v o t e o n th e q u e s t io n o f
is s u in g $ 1 0 0 ,0 0 0 4 % g o ld p a v in g b o n d s . T o a u t h o r iz e t h is
is s u e t w o -t h ir d s o f t h e q u a lifie d v o t e r s o f t h e c it y m u s t
a s s e n t t o t h e s a m e . M a t u r it y $ 4 ,0 0 0 y e a r ly ^ b e g in n in g fiv e
y e a r s a fte r d a te o f is s u e .

J u l y i*l 1900.|

THE CHRONICLE.

M a d i s o n , W i s . — Bond Sale.— O n J u l y 1 3 t h e § 2 5 0 , 0 0 0
2 0 -y e a r c o u p o n h ig h -sc h o o l-b u ild in g b o n d s d e sc rib e d in
V . S 3, p . 5 4 . w ere a w a rd e d to N . W . H a rris & C o . o f C h ic a g o
at p a r a n d a c cru e d in terest fo r 4s. A b id o f § 2 4 9 ,0 0 0 w a s
also re ce iv e d fr o m E . H . R o llin s & S o n s o f C h ic a g o .
M a d i s o n t ^ I n d . ) S c h o o l D i s t r i c t . — Bond Offering.— P r o ­
p o sa ls w ill b e r e c e iv e d u n til J u ly 3 1 b y C h a r le s G . S c h e lk e ,
P resid en t B o a r d o f S ch o o l T ru ste e s, for § 3 0 ,0 0 0 4 % sch o o l­
b u ild in g b o n d s. D e n o m in a tio n §5 0 0 . D a te A u g . 1 1906.
In te r e st s e m i-a n n u a l. C ertified c h e c k for 5 % r e q u ire d .
T h e d istrict h a s n o d e b t a t p re se n t.
M a r c e l l , I t a s c a C o u n t y , M i n n . — Bonds Not Sold.— O w i n g
to a n erro r d isc o v e re d in th e p ro c e e d in g s , n o sa le w a s m a d e
o n J u n e 2 2 o f th e § 2 ,5 0 0 6 % b o n d s d e scrib e d in V . 8 2 , p .
1397.
M a r i o n C o u n t y ^ P . O . I n d i a n a p o l i s ) , I n d . — Bond Offering.
— L ocal p ap ers state th a t th e C o u n ty C o m m issio n e rs h a v e
d e cid e d to offer o n S e p t. 1 § 9 8 ,0 0 0
v o tin g -m a c h in e
b o n d s. D e n o m in a tio n § 1 ,0 0 0 . M a tu r ity $ 1 0 ,0 0 0 y e a rly
fo r n in e y ea rs a n d § 8 .0 0 0 in ten y ea rs.
M a r l i n t o n , P o c a h o n t a s C o u n t y , W . V a . — Bonds Voted.—
O n J u ly 12 th is c ity a u th o riz e d th e issu a n ce o f th e § 5 ,0 0 0
sew er a n d § 1 0 .0 0 0 street 6 % 1 0 -2 0 -y e a r (o p tio n a l) b o n d s
m e n tio n e d in V . 8 2 , p . 1 5 1 4 , b y a v o te of SS to 6. In terest
s e m i-a n n u a l. T h e s e b o n d s w ill b e p u t o n th e m a r k e t in
ab o u t fou r w eek s.
M e r i d i a n , M i s s . — City Takes Over Water-Plant.— W e a r e
a d v ise d th a t o n J u n e 29 th e city to o k ch arge of th e p la n t of
t h e M e r id ia n W a t e r - W o r k s C o . .p a y in g fo r t h e s a m e 1Ԥ 2 5 0 ,0 0 0 ,
a s s u m in g th a t a m o u n t o f b o n d s .” F o r o th e r d e ta ils o f
tran sfer see V . 8 2 , p . 1 3 9 7 .
M i l l C r e e k , I n d . T e r . — Description of Bonds.— W e a r e i n ­
fo r m e d th a t th e § 1 0 .0 0 0 5 % c o u p o n sc h o o l-b u ild in g b o n d s
r e c e n tly v o te d b y th is to w n w ill b e issu e d in d e n o m in a tio n s
o f $ 1 ,0 0 0 . In te re st se m i-a n n u a l. M a tu r ity tw e n ty y e a r s ,
p a rt o p tio n a l e v e r y fo u r y e a rs. B o n d e d d e b t, th is issu e.
A sse sse d v a lu a tio n for 1 9 0 6 , $ 2 0 0 ,0 0 0 .
M i l w a u k e e , W i s . — Bond Sale.— O n J u l y 1 2 t h e f o u r i s s u e s
o f 4 % 1 -2 0 -y e a r (se ria l) b o n d s a g g r e g a tin g § 4 2 5 ,0 0 0 w e re
a w a r d e d to E s ta b r o o k & C o . o f B o s to n a t 1 0 0 .7 1 — a b a sis
o f a b o u t 3 .9 1 7 % . F o r d e scrip tio n o f th ese secu rities see
V . 83. p. 54.
M o b i l e , A l a . — Water-Plant-Purchase Election.— T h e M a y o r
h a s is s u e d a ca ll fo r a n e le c tio n A u g . 6 to d e t e r m in e w h e t h e r
th e cit}' sh a ll p u r c h a s e th e p la n t o f th e B ie n v ille W a t e r
S u p p l y C o . T h e p la n t , it is s t a t e d , is to c o s t $ 3 5 0 ,0 0 0 ,
w h ic h s u m is to b e p a id in th ir ty a n n u a l in s ta llm e n ts , d e ­
ferred p a y m e n ts b e a rin g in terest a t th e rate of 3 % p er
a n n u m . S ev era l y e a rs a g o th e B ien v ille W a te r S u p p ly C o .
f o u g h t th e c it y in t h e c o u r ts to p r e v e n t it f r o m e s ta b lis h in g
a n in d e p e n d e n t w a te r su p p ly s y s te m . F o r th e p a rticu la rs
r e g a r d in g th is c o n t r o v e r s y s e e • 'C h r o n ic le ,” J u n e 2 1 1 9 0 2 ,
A p ril 2 2 , M a y 2 0 , J u n e 10 a n d N o v . 11 1899.
M o n r o e , S e v i e r C o u n t y , U t a h . — Bond Sale.— T h e $ 7 , 0 0 0
5 % 1 0 -y e a r sch o o l b o n d s m e n tio n e d in V . 8 2 , p . 1 3 3 7 , h a v e
b e e n sold at p a r to th e S ta te B a n k o f S ev ier C o u n ty . T h e
§ 5 ,0 0 0 w a te r b o n d s m e n tio n e d in th e s a m e issu e w ill b e so ld
in th e n e a r fu tu re , w e are in fo r m e d , to th e S ta te B o a r d of
L a n d C o m m issio n e rs.
M o r g a n t o w n , M o n o n g a l i a C o u n t y , W . V a . — Bonds Au­
thorized.— T h i s c i t y , w e a r e i n f o r m e d , r e c e n t l y a u t h o r i z e d
th e issu a n ce o f § 7 0 .0 0 0 street a n d se w e r-im p ro v e m e n t b o n d s.
M o u n t V e r n o n . O h i o . — Bond Offering.-— P r o p o s a l s w i l l b e
received u n til 12 m . A u g . 6 b y S te p h e n J. D o r g a n , C ity
A u d ito r, for th e fo llo w in g b o n d s:
5 3 0 ,0 0 0

1

w a t e r - w o r k s e x t e n s io n b o n d s .
D e n o m in a t i o n S 7 5 0 .
M a t u r it y $ 7 5 0
e a c h s ix m o n t h s f r o m D e c . 3 0 1 9 0 6 t o J u n e 3 0 1 9 2 6 in c lu s iv e .
1 .9 0 0 o'Tc E a s t l in e S t r e e t - e w e r - c o n s t r u c t i o n b o n d s .
D e n o m in a t i o n S 9 5 .
M a­
t u r it y
e a c h s i x m o n t h s f r o m D e c . 3 0 1 9 0 6 t o J u n e 3 0 1 9 1 6 in ­
c lu s iv e .
5 0 . 0 0 0 4Tc S a n d u s k y S t r e e t p a v i n g a s s e s s m e n t b o n d s .
D e n o m in a t i o n $ 2 ,5 0 0 .
M a t u r it y o n e b o n d e a c h s i x m o n t h s f r o m D e c . 3 0 1 9 0 6 t o J u n e 3 0
1 9 1 6 i n c lu s iv e , b o n d s X o s . 1 t o 5 in c lu s iv e b e i n g s u b j e c t t o c a ll o n
o r a fte r D e e . 3 0 1906.
6 5 .0 0 0 4% E a s t H ig h S t r e e t p a v i n g a s s e s s m e n t b o n d s .
D e n o m in a t i o n $ 3 ,2 5 0 .
M a t u r it y $ 3 ,2 5 0 e a c h s i x m o n t h s f r o m D e c . 3 0 1 9 0 6 t o J u n e 3 0 1916
in c lu s i v e , b o n d s X o s . 1 t o 5 in c lu s i v e b e i n g s u b j e c t t o c a ll o n o r
a fte r D e c . 3 0 1906.
7 0 .0 0 0 477 W e s t H ig h S t r e e t p a v in g a s s e s s m e n t b o n d s .
D e n o m in a t i o n $ 3 ,5 0 0 .
M a t u r it y $ 3 ,5 0 0 e a c h s i x m o n t h s I r o m D e c . 3 0 1 9 0 6 t o J u n e 3 0 1 91 6
i n c lu s i v e , b o n d s X o s . 1 t o 5 in c lu s i v e b e i n g s u b j e c t t o c a ll o n o r
a fte r D e c . 3 0 1906.
4 5 . 0 0 0 4% E a s t l i n e S t r e e t p a v in g a s s e s s m e n t b o n d s .
D e n o m in a t i o n $ 2 ,2 5 0 .
M a t u r it y $ 2 ,2 5 0 e a c h s i x m o n t h s f r o m D e c . 3 0 1 9 0 6 t o J u n e 3 0 191 6
i n c lu s iv e , b o n d ; X o s . 1 t o 5 i n c lu s iv e b e in g s u b j e c t t o c a ll o n o r
a fte r D e c. 3 0 1906.

$95

175

p e r m it th e issu a n c e o f § 1 0 0 ,0 0 0 e le c tr ic -lig h t-p la n t a n d
sc h o o l-h o u se b o n d s.
N a v a s o t a , G r i m e s C o u n t y , T e x . — Bonds P rop osed . — T h i s
c i t y , it is s t a t e d , p r o p o s e s t o i s s u e $ 1 7 , 5 0 0 4 % r e f u n d i n g
school b o n d s.
N e w Y o r k C i t y . — B ond O fferin g . — A s a n n o u n c e d l a s t w e e k
th is c ity is o ffe r in g fo r s a le o n J u ly 2 5 fo u r is s u e s o f 4 %
co rp o ra te sto c k , a g g re g a tin g § 1 2 ,5 0 0 ,0 0 0 . T h e b o n d s w ere
d e s c r ib e d o n p a g e 1 1 5 o f la s t w e e k 's is s u e a n d t h e o ffic ia l
n o tic e o f th e sa le w ill b e fo u n d a m o n g th e a d v e r tis e m e n ts
e lse w h e re in th is D e p a r tm e n t.
N e w Y o r k S t a t e . — P u rch a ser Sells State B ond s.— W e a r e
in fo r m e d th a t th e $ 1 ,0 0 0 ,0 0 0 3 % ca n a l b o n d s a w a r d e d o n
J u n e 1 4 to F is k & R o b in s o n o f N e w Y o r k C ity' h a v e all b e e n
p la c e d b y t h a t fir m . I t is u n d e r s to o d t h a t th e s e llin g p ric e
w a s 103 a n d 10 3 3 ^ a n d in terest.
N o r w a l k , O h i o . — B ond O fferin g . — P r o p o s a l s w i l l b e r e ­
ce iv e d u n til 12 m . A u g . 2 b j' T . P . K e llo g g , C ity A u d ito r,
fo r $ 9 ,5 0 0 4 % c o u p o n p a v in g b o n d s o f $ 9 5 0 e a c h , $ 1 0 ,0 0 0
4 % c o u p o n p a v in g b o n d s o f $ 1 ,0 0 0 e a c h , $ 1 5 ,0 0 0 4 % c o u ­
p o n p a v in g b o n d s o f $ 1 ,5 0 0 e a c h a n d $ 5 ,5 0 0 4 % c o u p o n
p a v in g b o n d s o f $ 5 5 0 ea ch . A u th o rity S ectio n s 1 5 3 6 -2 8 1 ,
1 5 3 6 -2 8 5 , 1 5 3 6 -2 8 6 , 1 5 3 6 -2 8 8 a n d 1 5 3 6 -2 8 9 of th e R e v ise d
S ta tu tes. D a te J u ly 1 1 9 0 6 . In terest se m i-a n n u a lly a t th e
C i t y T r e a s u r e r ’s o f f i c e . M a t u r i t y o n e b o n d o f e a c h i s s u e
y e a rly fro m J u ly 1 1 9 0 7 to J u ly 1 1 9 1 6 in clu sive. B o n d s
a r e e x e m p t fr o m all ta x a t io n .
N o r w o o d , D e l a w a r e C o u n t y , P a . — L oan D efea ted . — A t a n
ele ctio n h e ld J u ly 17 th is b o r o u g h d e fe a te d a p ro p o sitio n to
b o r r o w $ 3 5 ,0 0 0 for v a r io u s im p r o v e m e n ts .
O l e a n , N . Y . — B ond S a le. — O n J u l y 6 t h e $ 1 0 , 0 0 0 4 %
reg istered p a r k -im p r o v e m e n t b o n d s d e scrib e d in V . 8 3 , p . 5 5 ,
w e r e a w a r d e d , it is s ta te d , to D e n is o n & F a r n s w o r th o f
C le v e la n d a t 1 0 1 .2 7 a n d in terest.
O n e i d a , M a d i s o n C o u n t y , N . Y . — B ond O fferin g . — P r o ­
p o s a ls w ill b e r e c e iv e d u n til 6 p . m . A u g . 1 b y F . H . M u n z ,
C ity C le rk , fo r th e fo llo w in g b o n d s :
$ 1 ,1 9 7
1 1 .5 6 0
1 0 ,4 3 9
2 .S 9 5
4 ,1 6 4

62 4 %
76 4 %
3 4 4%
8 2 4%
5 7 4%

S e r ie s
S e r ie s
S e r ie s
S e r ie s
S e r ie s

“ G G ” S co n o n d o a h S tre e t sew er assessm ent b on d s.
' ‘ H H ” M a g u ir e S t r e e t t r u n k -s e w e r a s s e s s m e n t b o n d s .
‘ 'I I * ' M a g u ir e S t r e e t s e w e r ( c i t y 's p o r t io n ) b o n d s .
“ J J ” L o u c k s a n d S to n e S treets sew er assessm en t b o n d s.
" K K " W i ll o w a n d S t o n e S t r e e t s s e w e r a s s e s s m e n t b o n d s .

T h e a b o v e b o n d s w ill b e c o u p o n o r r e g is te r e d in fo r m a n d
p a y a b le in O n e id a o r N e w Y o r k C ity , a t o p tio n o f p u rch a se r.
D a te A u g . 1 1 9 0 6 . In te re st a n n u a l. M a tu r ity o n e -te n th
o f e a c h issu e y e a r ly fro m A u g . 1 1 9 0 7 to A u g . 1 1 9 1 6 in clu ­
siv e . C ertified c h e c k fo r 2 j/£ % o f th e a m o u n t b id r e q u ire d .
O n t a r i o . — B onds A w arded in P a r t. — W e a r e a d v i s e d u n d e r
d a te o f J u ly 17 th a t $ 1 ,1 5 0 ,0 0 0 o f th e $ 3 ,0 0 0 ,0 0 0 3 J /£ % c o u ­
p o n c o n so lid a te d r e v e n u e fu n d b o n d s d e sc r ib e d in V . 8 2 , p .
1 5 1 5 , h a v e b e e n su b sc rib e d for u p to th a t d a te. T h e p rice
p aid w a s par.
O r a n g e S c h o o l D i s t r i c t , O r a n g e C o u n t y , C a l . — B ond S ale.
— -O n J u n e 1 9 th e $ 2 0 ,0 0 0 5 % 1 -4 0 -y e a r s c h o o l b o n d s , v o t e d
on M a y 21 w ere a w a rd ed to th e B a n k of O ra n g e at 102 a n d
accru ed in terest— a b asis of a b o u t 4 .8 4 ^ % . D e n o m in a ­
tio n $ 2 ,0 0 0 . In te re st a n n u a lly o n J u ly 1.
P a i n e s v i l l e , O h i o . — B on d S a le. — O n J u l y 1 7 t h e $ 3 8 , 0 0 0
4 % c o u p o n str e e t-im p r o v e m e n t a sse ssm e n t a n d $ 7 ,0 0 0
4 % s t r e e t - i m p r o v e m e n t b o n d s w ere a w a r d e d t o P . S . B r i g g s
& C o . o f P h ila d e lp h ia for $ 4 5 ,0 2 5 5 0 a n d a c cru e d in terest.
A b id o f § 4 5 ,0 1 0 w a s also re ce iv e d fro m th e D o lla r S a v in g s
B a n k C o . o f P a in e sv ille . S e e ]V . 8 2 , p . 1 5 1 5 , for d e sc rip tio n
of bonds.
B ond E lection .— A n e l e c t i o n w i l l b e h e l d J u l y 2 4 t o v o t e
o n th e q u e stio n o f issu in g § 7 5 ,0 0 0 filtra tio n -p la n t a n d § 1 0 ,0 0 0 riv e r-b a n k -re p a ir b o n d s.
P a r k e r s b u r g , W o o d C o u n t 3q W . V a . — Bonds D efea ted . —
O n J u ty 10 th is e itjr d e fe a te d a p r o p o s itio n to issu e § 7 5 ,0 0 0
5 % b u ild in g b o n d s b y a v o te of 4 7 7 for to 9 8 2 a g ain st.
P e a b o d y , E s s e x C o u n t y , M a s s . — B ond S a le.— O n J u l y 1 3
th e § 1 5 0 ,0 0 0 4 % 1 -3 0 -y e a r (se ria l) c o u p o n s e w e r b o n d s
d e s c r i b e d i n V . 8 3 , p . 1 1 5 , w e r e a w a r d e d t o N . W. H a r r i s &
C o . o f N e w Y o r k C ity a t 1 0 2 .1 5 8 3 — a b a sis o f a b o u t 3 .8 1 2 % .
F o llo w in g are th e b id s:
X . W . H a r r is & C o . , N e w Y o r k . 1 0 2 .1 5 8 3 [ B l o d g e t . M e r r it t & C o . . B o s t o n . . 1 0 0 .6 8
R . I . . D a y & C o . , B o s t o n _________1 0 1 .1 5 9
G e o . A . F e r n a ld A C o . , B o s t o n . . . 1 0 0 . 0 3 0
M erril I. O ld h a m & C o .. B o s t o n . 1 0 0 .8 3
i

A u th o r ity fo r issu e, C h a p te r 2 7 0 , la w s o f 1 9 0 6 .
A u th o rity S ection s 95 a n d 100 of th e M u n icip a l C o d e .
P erin to n a n d P ittsfo rd U n io n F ree S ch o ol D istrict N o . 13
T h e a b o v e secu rities are d a te d J u n e 3 0 1 9 0 6 . In terest J u n e
f P . O . D e s p a t c h ) , M o n r o e C o u n t y , N . Y . — B ond Sale.— O n
a n d D e c e m b e r a t th e o ffic e o f th e S in k in g F u n d T r u s te e s .
B o n d s a r e e x e m p t fr o m ta x a t io n . O ffic ia l c ir c u la r s ta te s J u ly 1 7 th e § 1 0 ,0 0 0 b o n d s o ffe re d b u t n o t a w a r d e d o n J u ly 1 0
th a t th e r e is n o litig a tio n th r e a t e n e d o r p e n d in g a n d t h a t ( V . 8 3 , p . 1 1 5 ) w e r e d is p o s e d o f t o G e o r g e M . H a h n o f N e w
th e c ity h a s n e v e r d e fa u lte d o n p rin cip a l o r in te re st. C e rti­ Y o r k C ity a t 1 0 1 .0 1 3 7 fo r 5s.
P l a i n C i t y S c h o o l D i s t r i c t , M a d i s o n C o u n t y , O h i o . — Bond
fied c h e c k fo r 2 % o f t h e b o n d s b id fo r , p a y a b le to th e C it y
S a le. — O n J u l y 1 6 t h e $ 1 , 0 0 0 4 ) ^ %
c o u p o n rep a ir b o n d s
A u d it o r , is r e q u ir e d . P u r c h a s e r to p a y a c c r u e d in te r e s t.
N a p o l e o n , O h i o . — Bond Sale.— O n J u l y 1 6 t h e § 1 2 , 0 0 0 d e s c r i b e d i n V . 8 3 , p . 1 1 5 , w e r e a w a r d e d t o t h e N e w F i r s t
4 /2 %
2 5 -y e a r c o u p o n re fu n d in g b o n d s d e scrib e d in V . 8 2 . N a tio n a l B a n k o f C o lu m b u s a t p a r a n d a c cru e d in terest.
p . 1 3 9 7 , w e re a w a r d e d to O tis & H o u g h o f'C le v e la n d at T h e r e w e re n o o th e r b id s r e c e iv e d .
P o n c a , K a y C o u n t y , O k l a . — B ond E lection. P r o p o . - i t i o n s
1 0 7 .1 7 2 a n d in te r 's :— a b a sis o f a b o u t 4 .0 4 2 % . F o llo w in g
to issu e $ 1 5 ,0 0 0 se w e r a n d 8 7 ,0 0 0 w a te r 5 % 2 0 -y e a r b o n d s
are th e b id s:
O t is A H o u g h , C l e v e l a n d ...........3 1 2 ,8 6 0 75 X e w 1st X a t . B a n k , C d u m b u s . $ 1 2 ,5 8 5 0 0
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 th is p lace, o n J u ly 3 1 .
W . R . T o d d a- C o . . C i n c i n n a t i . 1 2 ,7 8 0 0 0 E a m p r e c h t B r o s . * C o . . C l o v e . 12.4-S3 0 0
R . K l e y b o l t e A C o . . C i n c l n . . 1 2 .7 6 3 0 0 W e l l, R o t h A: C o . . C i n c i n n a t i . 1 2 .1 0 0 0 0
P o r t s m o u t h , O h i o . — B ond O fferin g . — P r o p o s a l s w i l l b e
S e a s o n g o o d A M a y e r . C in c ln
1 2 .7 2 2 5 0 A l b e r t K l e y b o l t e A C o . , C ln . 1 2 .3 6 0 0 0
r e c e iv e d u n til 1 2 m . J u ly 3 1 a t th e o ffic e o f I ilm o r e M u s s c r ,
P . S . B r i g g s A C o . . C inr i n n a t l . 1 2 .0 0 5 5 0
N a t c h e z , M i s s . — Bonds Proposed.— T h i s c i t y , i t i s s t a t e d , C i t y A u d i t o r , f o r § 1 1 . 0 0 0 4 % c o u p o n s t r e e t - i m p r o v e m e n t
w i l l * a s k | t h e | L e g i s l a t u r e t o a m e n d t h e C i t y C h a r t e r s o a s t o ( c i t y ’s ’ p o r t i o n ) b o n d s . ^ A u t h o r i t y S e c t i o n 5 3 o f t h e M u n i c i ­

170

THE CHRONICLE

[VOL. LXXXIII.

p a r fo r th e W a te r D e b t S in k in g F u n d a n d $ 2 2 0 ,0 0 0 to
R h o a d e s & C o . o f N e w Y o r k C ity a t 1 0 0 .3 7 6 a n d a c c ru e d
in te re st. O th e r b id d e rs w e re W . N . C o le r & C o ., N e w
Y o r k — 1 0 0 .8 0 2 fo r $ 1 0 0 ,0 0 0 sc h o o l b o n d s a n d th e S c h e n e c ­
ta d y T r u s t C o .— p a r for $ 1 0 0 ,0 0 0 b o n d s . S e e V . 8 2 , p .
1 4 5 8 , for d e scrip tio n o f b o n d s.
S c r a n t o n , P a . — B ond A w a rd . — W e a r e a d A d s e d t h a t t h e
C i t y C o u n c i l h a s a w a r d e d t h e $ 7 0 , 0 0 0 4 % c o u p o n sew er b o n d s
Portsmouth, Va.— Western Branch School District.— o f f e r e d o n J u l y 3 t o R o b e r t G l e n d e n n i n g & C o . o f P h i l a d e l ­
Bond Sale.— O n J u l y 6 1 9 0 6 a n i s s u e o f $ 5 0 , 0 0 0 4 p £ % 2 0 - p h i a a t 1 0 3 . 2 9 5 . F o r f u l l l i s t o f b i d s r e c e i A m d s e e V . 8 3 ,
y e a r sch o o l b o n d s w a s sold to A lv a li M a rtin a t p a r a n d in ­ p . 56.
te re st. D e n o m in a tio n $ 1 ,0 0 0 .
S c r i b n e r , D o d g e C o u n t y , N e b . — B onds V otedi — T h i s p l a c e ,
Potter County (P. O. Amarillo), Tex.— Bonds Registered.— i t i s s t a t e d , h a s v o t e d t o i s s u e $ 2 0 , 0 0 0 w a t e r - w o r k s a n d g a s ­
O n J u ly 13 th e S ta te C o m p tr o lle r reg istered $ 2 0 ,0 0 0 4 % lig h t-sy ste m b o n d s.
5 -4 0 -y e a r (o p tio n a l) ro a d a n d b rid g e b o n d s o f th is c o u n ty .
S e a t t l e , W a s h . — B ond S a le. — O n J u l y 9 t h e C i t y C o u n c i l
S ecu rities are d a te d A p ril 10 1906.
accep ted th e b id o f p a r for 3 % % b o n d s su b m itte d o n J u ly 7
Prince Albert, Sask.— Debenture- Sa,le.— I t i s s t a t e d t h a t b y t h e S t a t e o f W a s h i n g t o n f o r t h e $ 6 0 0 , 0 0 0 2 0 - y e a r c o u p o n
a n issu e o f $ 1 0 0 ,0 0 0 4 p jj% 3 0 -y e a r d e b e n tu r e s w a s r e c e n tly e le ctric-lig h t b o n d s . N o a w a r d w a s m a d e o f th e $ 5 0 0 ,0 0 0
a w a r d e d to A e m iliu s J a rv is & C o . o f T o r o n to .
c o u p o n p a r k b o n d s o ffe re d a t th e s a m e t im e . F o r fu ll list
Putnam, Windham County, Conn.— Bonds Not Yet Sold.— o f b i d s s e e V . 8 3 , p . 1 1 6 .
T h is to w n h a s n o t y e t d isp o se d o f th e $ 1 0 0 ,0 0 0 3 } ^ % fu n d ­
S e a V i e w S c h o o l D i s t r i c t , M e n d o c i n o C o u n t y , C a l . — B ond
i n g b o n d s m e n t i o n e d i n V . 8 2 , p. 1 1 7 .
S a le. — O n J u l y 1 1 t h e $ 6 0 0 7 % s c h o o l - b u i l d i n g b o n d s o f f e r e d
Ravia, Ind. Ter.— Bonds Authorized.— T h i s p l a c e r e c e n t l y b u t n o t a w a r d e d o n J u n e 5 ( V . 8 2 , p . 1 3 9 9 ) w e r e d i s p o s e d o f
a u th o riz e d th e issu a n ce o f $ 6 ,0 0 0 5 % re g istered sch o o l b o n d s . to A g n e s H a r g r o v e a t 1 0 1 . D e n o m in a tio n $ 3 0 0 . In te re st
D e n o m in a tio n s $ 1 ,0 0 0 a n d $ 5 0 0 . M a tu r ity 1 9 1 1 , 1 9 1 6 , a n n u a l.
S e w a r d C o u n t y ( P . O . S e w a r d ) , N e b . — B ond S a le. — W e
1921 an d 1926. B o n d s are e x e m p t fro m taxes.
Rayne, Acadia Parish, La.— Bond Election Proposed.—• a r e a d v i s e d t h a t a r r a n g e m e n t s h a \ r e b e e n m a d e w i t h t h e
L o c a l p a p e r s sta te th a t th e c itize n s o f th is to w n w ill p e titio n S ta te T r e a s u r e r fo r th e sa le to th e S ta te a t 1 0 1 o f $ 2 0 ,0 0 0
t h e C o u n c i l t o c a l l a n e l e c t i o n f o r t h e p u r p o s e o f v o t i n g o n l4 i %v e r ce od u pa so n m c o o n u e r yt - h i so u ns ee e ad ne dd . j a i Tl h b e o s ne d bs ,o n s de cs u r a i rt ei e sp a t ro t bo ef d a e n ­
th e q u e stio n o f issu in g $ 2 0 ,0 0 0 re fu n d in g w a te r a n d lig h t
b o n d s , $ 1 5 , 0 0 0 h i g h - s c h o o l - b u i l d i n g b o n d s a n d $ 5 , 0 0 0 is so s mu ee os if x $ m1 0o 0n , t 0 h 0 s 0 , a g o o f ow n h it ch he s$ a8 m0 , e 0 0t 0e r mw es .r e sS oe l o d V t .o 8 t 2h , e p S. t a1 7t e7
w a te r -w o r k s-e x te n sio n b o n d s.
and V . 81, p. 1205.
Red River County (P. O. Clarksville), Tex.— Bond Sale.—
S a le. —
W e a r e a d v i s e d t h a t t h e $ 2 , 6 6 0 5 % b r i d g e - r e p a i r b o n d s O n S o J mu le yr s 6e t t Ch eo u $ n 2 t 8 y 0 , ( 0 P 0 . 0 O 4. % S o mc o e ur pv io l nl e )c , o uN n . t AJ' .- —b u Bi l ond
d
i
n
g
r e g i s t e r e d b y t h e S t a t e C o m p t r o l l e r o n A p r i l 1 7 ( V . 8 2 , p . d e s c r i b e d i n V . 8 2 , p . 1 5 1 6 , r v e r e a A v a r d e d $ 1 8 0 , 0 0 0 t o b H o on wd s ­
1 0 0 3 ) h a v e b e e n sold to R e d R iv e r C o u n ty a t p ar. D e n o m i­
n a t i o n s $ 1 , 2 1 5 a n d $ 1 , 4 4 5 . D a t e M a r c h 2 1 1 9 0 6 . I n t e r e s t aJ r. d S . K F. r Se tl oi nk ge hs u o y f s eN n e wa t Y 1 o 0 r2 k. 5 2C 2 i .t y aT t h e1 0 o2 t . h5 e2 r1 b a i n d dd e $ r 1s 0 A0 v, e0 r0 e 0: t o
a n n u a l l y i n A p r i l . M a t u r i t y A p r i l 1 0 1 9 1 6 , s u b j e c t t o c a l l J o h n D . E v e r i t t & C o . , N e w Y o r k . 1 0 0 .5 7 I H . V . D a v i s ( f o r S I , 0 0 0 ) ____________1 0 1 .0 0
b efo re m a tu r ity .
S o m e r v ille D im e S a v in g s B a n k ,
D a v i d R e i n h a r t ( f o r S I , 0 0 0 ) ______ 1 0 0 10
S o m e r v ille ( f o r S 2 4 .O 0 0 )_________ 1 0 4 .4 8 P l a in f ie ld T r u s t C o . , P l a i n f ie l d ( f o r
Reno, Nev.— Bond Sale.— O n J u l y 9 $ 3 5 , 0 0 0 5 % 1 0 - 3 0 - y e a r F ir s t N a t . B k . , S ’ v i ll e ( f o r 8 2 4 ,0 0 0 )1 0 1 .7 8 1 S 1 4 .0 0 0 ) _____________________________ 10 0
{ o p t i o n a l ) s e w e r b o n d s w e r e a w a r d e d t o t h e F a r m e r s & M e r - ^ . J . A . B u ll o c k ( f o r S 2 . 0 0 0 ) __________ 1 0 1 .0 0 1
c h a n ts N a tio n a l B a n k o f R e n o a t 1 0 5 .0 7 — a b a sis o f a b o u
S o p e r t o n , M o n t g o m e r y C o u n t y , G a . — B on d S a le. — W e a r e
4 .3 6 9 % to th e o p tio n a l d a te a n d 4 .6 8 4 % to fu ll m a t u r it y - a d v is e d th a t th e $ 5 ,0 0 0 6 % 3 0 -y e a r s c h o o l-b u ild in g b o n d s
F o llo w in g are th e b id s:
d a ted J an . 1 1 9 0 6 , offered b u t n o t sold o n N o v . 10 1 9 0 5
F a r m . & M e r c h . N a t . B a n k , R e n o . . $ 3 6 ,7 7 5 I N . W . H a r r is & C o . , C h ic a g o
S 3 5 .8 8 5
( V . 8 1 , p . 1 6 2 7 ) , h a \ re b e e n a w a r d e d t o C . H . C o f f i n o f C h i ­
F . J . P e c k & C o . , R e n o ____________ 3 6 .7 5 0 1
cago at 102.
D e n o m in a tio n $ 1 ,0 0 0 . D a te J u ly 1 1 9 0 6 . In te re st s e m i­
S o u t h C h a r l e s t o n , C l a r k C o u n t y , O h i o . — B on d E lection
annual .
P ro p o sed . — T h e C o u n c i l , i t i s s t a t e d , i s c o n s i d e r i n g t h e q u e s ­
Rockaway, Morris County, N. J.— Bonds Voted.— O n t i o n o f c a l l i n g a n e l e c t i o n t o v o t e o n t h e i s s u a n c e o f $ 5 , 0 0 0
J u ly 17 a n issu e o f n o t e x c e e d in g $ 3 0 ,0 0 0 e le c tric -lig h t-p la n t s tr e e t-im p r o v e m e n t b o n d s .
b o n d s w a s a u th o r iz e d , it is s ta te d , b y a v o t e o f 6 3 to 5 2 .
S o u th C h a r le sto n S c h o o l D istr ic t, C la rk C o u n ty ,5 O h io .—
Rock County (P. O. Bassett), Neb .— Bonds Defeated.— B ond E lection . — I t i s s t a t e d t h a t t h e B o a r d o f E d u c a t i o n w i l l
T h e e le c tio n M a y 2 9 r e s u lte d in th e d e fe a t o f th e p r o p o s itio n s u b m it to a v o t e th is fa ll a p r o p o s itio n to issu e $ 2 5 .0 0 0 s c h o o lto issu e th e $ 4 0 ,0 0 0 ra ilro a d -a id b o n d s referred to in V . 8 2 , h o u se b o n d s.
p. 1 0 6 4 .
S p e n c e r p o r t , M o n r o e C o u n t y , N . Y . — B onds V oted . — T h i s
Rojrse Independent School District, Rockwall County, v i l l a g e o n J u l y 1 0 b y a v o t e o f 7 6 t o 1 6 a u t h o r i z e d t h e i s s u ­
Tex.— Bonds Not Sold.— N o s a l e w a s m a d e o n J u l y 1 6 o f t h e a n c e o f $ 5 , 0 0 0 v i l l a g e - h a l l b o n d s . W e a r e i n f o r m e d t h a t
$ 1 3 ,0 0 0 5 % 5 -4 0 -y e a r (o p tio n a l) c o u p o n s c h o o l-b u ild in g th e se b o n d s w ill b e o ffe re d fo r sa le in th e n e a r fu tu r e .
b o n d s d e scrib e d in V . 8 3 , p . 1 16.
S p r i n g f i e l d , 1 1 1 . — B ond O fferin g . — P r o p o s a l s w i l l b e r e ­
St. Peter (Minn.) School District.— Bond Election.— A n c e i v e d u n t i l 4 p . m . J u l y 3 0 b y J a m e s A . H a l l , C i t y C o m p ­
e le c tio n w ill b e h e ld J u ly 3 1 to v o te o n th e q u e s tio n o f issu ­ tro lle r, fo r $ 7 5 ,0 0 0 r e fu n d in g b o n d s .
S t e r l i n g , L o g a n C o u n t y , C o l o . — B on d S a le. — T h e $ 4 5 , 0 0 0
in g $ 3 5 ,0 0 0 sc h o o l-b u ild in g b o n d s .
5 % g o ld A v a ter b o n d s o ffe r e d la s t 'N o A m m b e r ( V . 8 1 , p . 1 4 5 2 )
San Diego School District, San Diego County, Cal.— h a A m b e e n a w a r d e d t o J . H . C a u s e y o f D e m m r a t 9 0 . W e
Bonds Voted.— T h e e l e c t i o n h e l d J u n e 3 0 t o v o t e o n t h e q u e s ­ a r e n o t a d A d s e d a s t o t h e d a t e o f a w a r d .
tio n o f is s u in g th e $ 1 2 0 ,0 0 0 4 3 ^ _% 1 -2 0 -y e a r (se ria l) s c h o o l­
S u l p h u r , I n d . T e r . — B on d E lectio n . — I t i s s t a t e d t h a t a n
b u ild in g b o n d s, m e n tio n of w h ic h w a s m a d e in V . 8 2 , p .
1 5 1 6 , r e s u l t e d i n f a v o r o f t h a t p r o p o s i t i o n . W e a r e i n f o r m e d e l e c t i o n w i l l b e h e l d i n t h i s c i t 3 r t o Aro t e o n t h e q u e s t i o n o f
th a t th e se b o n d s w ill b e o ffe re d b y th e C o u n ty T r e a su r e r issu in g $ 5 5 ,0 0 0 sc h o o l, se w e ra g e a n d w a te r -w o r k s b o n d s .
a b o u t A u g . 1.
S y l a c a u g a , T a l l a d e g a C o u n t y , A l a . — B ond E lection . — O n
Santa Clara County, Cal.— R o n d Election.— A n e l e c t i o n J u l y 2 3 a n e l e c t i o n w i l l b e h e l d i n t h i s c i t y ^ t o A - o t e o n t h e
h a s b e e n c a lle d fo r A u g . 3 to v o te o n th e q u e s tio n o f issu in g q u e s tio n o f is s u in g $ 1 6 ,0 0 0 5 % 3 0 -y e a r w a te r-A v o rk s b o n d s .
$ 3 0 0 ,0 0 0 4 %
1 1 - 4 0 - y e a r ( s e r ia l) c o u n t y -b u i l d i n g -r e p a i r W e a r e a d A d s e d t h a t a r r a n g e m e n t s h a A 'e a l r e a d y b e e n m a d e
for th e p la cin g of th ese b o n d s, p ro A d d ed th e y are a u th o rized
b o n d s . D e n o m in a tio n $ 1 ,0 0 0 .
a t th e e le ctio n .
Santa Monica School District, Los Angeles County, Cal.—
T a u n t o n , M a s s . — B ond S a le. — O n J u l y 1 6 t h e $ 3 0 , 0 0 0 4 %
Bond Sale.— T h e $ 6 0 , 0 0 0 4 J ^ % 1 - 1 0 - y e a r b o n d s v o t e d o n
M a y 2 ( V . 8 2 , p . 1 1 7 3 ) w e r e a w a r d e d t o N . W . H a l s e y & C o . 3 0 y e a r s e w e r b o n d s :d e s c r i b e d i n V . 8 3 , p . 1 1 6 , w e r e a w a f d e d
o f S a n F ra n c isco o n J u n e 18 fo r $ 6 0 ,1 6 2 — a b a sis o f a b o u t to H . I. H a h n & C o . a t 1 0 5 .8 8 8 a n d a c cru e d in te re st— a
u t 3 .6 7 )^ 2 % . T h e b id s w e re as fo llo w s:
4 . 4 4 4 % . A b i d o f $ 6 0 , 1 0 0 w a s a l s o s u b m i t t e d b y t h e R i v e r - Hb a. sI .i sH a olmf &a Cb oo ___________________
h e a d S a v i n g s B a n k & T r u s t C o . o f R i v e r h e a d . ' D e n o m i n a ­ M e r rill. O ld h a m & C o . , B o s t o n . .11 00 55.4.8.38 8 BEl.o dCg. eStt, aMn we roroi dt t &&CCoo. ., . BBoosst to onn—. _ 110044.1.047
B l a k e B r o s . & C o . , B o s t o n ______1 0 5 .1 0
| E s t a b r o o k & C o . . B o s t o n __________ 1 0 3 .6 1
tio n $ 1 ,0 0 0 . D a te J u n e 1 8 1 9 0 6 . In te re st a n n u a l.
N . AAr. H a r r is & C o . , B o s t o n ____ 1 0 5 .0 9 S 1 A d a m s & C o . . B o s t o n ______________ 1 0 3 .4 1 1
R . L . D a y & C o . , B o s t o n _________ 1 0 4 .5 6 9 iL e e . H ig g i n s o n & C o . , B o s t o n --------- 1 0 2 .8 8 1
S a r a n a c L a k e , N . Y . — B ond S a le. — T h i s v i l l a g e h a s a w a r ­
T e c u m s e h , O k l a . — B ond O fferin g . — P r o p o s a l s w i l l b e r e ­
d e d th e $ 1 8 ,0 0 0 se w e r b o n d s a n d th e $ 3 2 ,0 0 0 w a te r b o n d s
m en tio n e d in V . 8 2 , p . 1 3 9 9 , to G e o . M . H a h n of N e w Y o r k ceived u n til 8 p . m . A u g . 6 (d a te ch a n g e d fro m A u g . 8) b y
C i t y a t p a r f o r 4 % . s . y : _■ ; /
.. . . . . . . . . . . . . . . . . . . . . :
' f R . J. W o x , C ity C le rk , fo r th e $ 6 0 ,0 0 0 5 % 3 0 -y e a r w a te r w o rk s b o n d s offered b u t n o t sold o n J u ly 2. In te re st B e m iy S a w y e r s B a r S c h o o l D is tr ic t, S is k iy o u ' C o u n t y , C a l.—
a n n u a l. C ertified c h e c k fo r $ 5 0 0 , p a y a b le to th e C ity T r e a s­
B on d O fferin g . — 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 1 2 m .
A u g . 1 b y J . E . W h e e l e r , C o u n t y T r e a s u r e r ( P . O . Y r e k a ) , u0 0r e0 r. , i sA s r s e e q s us ie r d e d v. a l u B a o t ni od ne d $ 3d 1e 2b , t 0 , 0 i0 n. c l u d i n g t h i s i s s u e , $ 6 8 , for $ 3 ,0 0 0 6 % b o n d s . D e n o m in a tio n $ 3 0 0 . D a te A u g . 1
T e n s a s B a s i n L e v e e D i s t r i c t , L a . — B onds A u th orized . —
1 9 0 6 . In terest a n n u a l. M a tu r ity $ 3 0 0 y e a rly fro m A u g . 1
T h e S ecretary of th e B o a r d of C o m m issio n e rs h a s b e e n a u th or1 9 0 7 to 'A u g . 1 1 9 1 6 in clu siv e .
ize d to r e fu n d $ 3 0 ,0 0 0 6 % b o n d s b y a lik e a m o u n t o f 5 % s .
Wf S c h e n e c t a d y Y N . Y .— B on d Sale.— O n J u l y i " 1 7 r t h e ^ t w o
T h o m a s v i l l e , G a . — B ond S a le. — O n J u l y 2 $ 1 8 , 0 0 0 o f t h e
issu es o f 4 % reg istered se w e r a n d sch o o l b o n d s a g g re g a tin g
$ 2 6 0 ,0 0 0 "w e r e a w a r d e d $ 4 0 ,0 0 0 to th e C ity C o m p tr o lle r at $ 2 5 ,0 0 0 4 J ^ % g o ld c o u p o n se w e ra g e b o n d s d e sc r ib e d in
p a l C o d e p a s s e d O c t. 2 2 1 9 0 2 "a n d O r d in a n c e N o . 1 0 6 0 , p a s s e d
b y th e C ity C o u n c il J u n e 2 0 1 9 0 6 . D e n o m in a tio n $ 5 0 0 .
D a t e A u g . 1 1 9 0 6 . In te r e s t s e m i-a n n u a lly a t t h e o ffic e o f
W in s lo w , L a n ie r & C o . in N e w Y o r k C ity . M a tu r ity $ 2 ,5 0 0
o n A u g . 1 in e a c h o f th e y e a rs 1 9 1 1 , 1 9 1 2 a n d 1 9 1 3 a n d $ 3 ,5 0 0
A u g . 1 1 9 1 4 . C ertified c h e c k for 2 % o f th e b o n d s b id for,
p a y a b le to th e C it y A u d it o r , is r e q u ir e d . A c c r u e d in te r e s t
to b e p a id b y p u rch a ser. A ll b id s m u s t b e u n co n d itio n a l.

Ju

V . 82,
In su ran
b la n k b
w ere as

THE CHRONICLE.

21 1906.]

ly

p . 1 5 1 7 . w e re a w a rd e d to th e S o u th e rn S ta te s L ife
c e C o . o f A tla n ta at 1 0 1 .7 5 a n d a c c r u e d in te r e st a n d
o n d s. T h e b id s fo r th e $ 2 5 ,0 0 0 b o n d s as a d v e rtise d
fo llo w s:

Denison ,v Farnsworth. Clove.$25.507 ..> Kohinson-Humphrey Co..Atlan$25,312 00
South.Suites Lite Ins.Co..All .<i25.455 00 V. 1. Fuller .v Co., Cleveland. 25,070 00
Seasongoixl ,v Mayer. C ln cln .. 2d.447 00
a A n d lu rn lsh b o n d s.

Bonds Voted.—

T he election July 3 resulted in a vote of
6 in fa v or o f the proposition to issue $ 3 0 ,0 0 0 paving
bon ds— c it y ’s portion.

2 4 9 to

Tiffin, Ohio.— Bonds Authorized.— A resolution passed b y
the C ity Council on July 2 provides for the issuance o f $ 4 4 ,0 0 0
4 % coupon refunding b on ds.
D en om ination $ 1 ,0 0 0 .
Date
A iig . 31 1906.
Interest M arch 1 and S ept. 1 a t the office of
th e"S in k in g Fund Trustees.
M atu rity S ept. 1 1921.
Titusville, Pa. — Bonds Defeated.— This city on June 12
b y a vote of 26 9 for to 499 defeated a p roposition to issue
bon ds for a new high school.
Topeka, Shawnee County, Kan. — Bond Sale.— On July 2
the $ 1 0 0 ,0 0 0 5 % general-im provem ent bon ds described in
V . 8 2 , p. 1460. were awarded to W e il, R o th & C o. o f Cin­
cinnati at 1 0 1 .0 7 .
Bonds Not Sold.— The $ 2 0 ,0 0 0 4 % 20-y ea r refunding bonds
offered on the sam e day were n ot aw arded.
Trenton, N. J. — Bonds Authorized.— The Council on July 3
passed an ordinance authorizing the issuance of $44 ,200 4%
registered sewer assessm ent funding b on d s.
D en om ination
$ 1 0 0 or m u ltiple.
In terest sem i-an n u al.
M a tu rity ten
years.
Troy. N. Y . — Bond Sale.— On Ju ly 7 an issue o f $ 1 6 5 ,0 0 0
4 % 1-2 0 -y e a r (serial) deficiency w ater bonds was awarded
to the T roy Savings B ank at 1 0 0 .4 2 5 — a basis of a bo u t 3 .9 5 % .
Tuskegee, Macon County, Ala. — Bonds Not Yet Sold.—
No^sale has yet been m ade o f the $ 2 0 ,0 0 0 sewerage bon ds
offered w ithou t success on M a y 15.
See Y . 8 2 , p . 1287.
Tyndall, Bonhomme County, So. D ak. — No Action Yet
Taken.— No steps have vet been taken in the m atter of
issuing the $ 4 ,0 0 0 3-y ea r w arrants v oted on April 17.
n e w

l o a m s

177

Uhling (Neb.) School D istrict.— Bonds Voted.— It is stated
that this town has voted in favor of issuing $2,000 schoolhouse bonds.
Victor, Ontario County, N. Y .— Bond Offering .— Proposals
will be received until 6 p. m . J u ly # 8 b y John M. Ladd,
Village President , for $11,000 w ater-w orks-im provem ent and
extension bonds -at not exceeding 5 % interest. A uthority
election held June 5 1906. D enom ination $1,100. Interest
annually on July 1. M aturity $1,100 yearly on July 1 from
1907 to 1916 inclusive. Certified check for 5 % o f the par
value o f the bonds required.
Villard, Pope County, Minn.— Bond Sale.— On July 14
$6,000 4 % water-works bonds offered w ithout success on
July 31 1905 were awarded to the State o f M innesota at par.
D enom ination $400. Date Jul3r 14 1906. Interest annually
on July 1. M aturity $400 yearly from July 1 1911 to July 1
1926 inclusive.
Vineland, N. J .— Bond Sale.— On July 12 the $24,000
4hi% 30-year coupon funding b on d s, a description o f which
was given in V. 83, p. 57, were awarded to the H . L. Craw­
ford it Co. o f New Y o rk C ity at 101 and accrued interest—
a basis o f about 4 .4 4 % .
Wakefield, Dixon County, Neb.— Bond Sale.— On July 10
the $4,500 5 % 5-20-year (op tion al) gold cou pon gas-lightingplant bonds described in V. 83, p. 57, were awarded to the
First National Bank o f W akefield at 100.111 and accrued
interest— a basis o f abou t 4 .9 7 )^ % to the option al date
and 4 .9 9 1 % to full m atu rity. The bids were as follows:
First Nat. Bank. W a k efield -.. .84,505 0 0 1Third Nat. B k., R ockford, 111.. 84,500 00
S. A. Kean, Chicago---------------- 4.522 501

Wampum, Pa. — Bonds N ot Yet Sold.— No sale has yet
been m ade o f the $2,000 4 % 30-year gold cou pon electriclight bonds w hich this borough is offering at private sale.
These securities are described in V. 82, p. 351.
Warren County (P. O. V icksbu rg),M iss.— Bonds Author­
ized.— The Board o f Supervisors on July 6 decided to issue
$6,600 bridge bonds.
Wauseon, Fulton County, Ohio.— Bonds Voted.— R eports
state that an issue o f $20,000 water-w orks im provem ent
bon ds was authorized on July 16 b y a v o te o f 408 to 40.
N E W

. ________

L O A N S .

# 5 0 0 ,0 0 0

ESSES COUNTY, N. J.,
BONDS

$

Issued under authority of Chap. LX., Laws of 1905.
The B oa rd 'of Chosen Freeholders of the County of
Essex New Jersey, invites proposals for the purchase
o f $500 000 Essex County Bonds, in denomination
of SI ,600 each, interest coupons at 4 per cent per annum
payable February 1 and August 1. principal and inter­
est pavable in gold. Bonds payable August 1, 1946.
The'BomR will bear interest from August. 1, 1906,
and the purchaser must pay interest,accrued to date of
delivery.
. . ............................• • • • • < *
Sealed proposals will be received by the Finance
Committee of the Board of Chosen Freeholders, at a
meeting to be held by said Committee, at tbe Freehold­
ers' room in the Court House, at Newark, X . J. on
Wednesday, July 25, 1906. at 2 o ’ clock p. m ., which
meeting will remain open for the reception of proposals
until 2:30 p. m . Each proposal shall state the amount
of b'd in words and figures, and must be accompanied
by a certified check for $5,000. which will be applicable
o n account of purchase monev of bonds, and forfeited
by successful bidder who afterwards falls to take the
bonds
CoDies of proceedings will be furnished to
successful bidders, but proposals must be unconditional.
The Finance Committee reserves the right to reject
any and all proposals, it, in its judgment, the interest
of the County requires such action.
The bonds will be ready for delivery on August 1,

1906.

B y order of

1 2

N E W

,5

0

0

, 0

0

0

Y O R K

F o u r

(4 % ) P e r

C IT Y
C en t.

GOLD CORPORATE STOCK AND BONDS
T A X E X E M PT EXCEPT FOR S T A T E P U R P O S E S

To Be Sold Wednesday, July

FINANCE COMMITTEE
AMOS. W . H A R R ISO N . Chairman.

as

2 5

,

1906

,

fo llo w s :

$11,000,000 Corporate Stock payable in Nov. 1st, 1936.
S p e c ia lis t s in N ew J e r se y S e c u r it ie s .

500,000 Corporate Stock payable in Noy. 1st, 1925.
E IS E L E

&

KIN G,

BANKERS,
Members of New York and Philadelphia
Stock Exchanges.
Private Wires to
757-753 Broad St.,
N. Y. A Philadelphia.
NEWARK.

F. R. FULTON & CO.,
M unicipal

Bonds.

181 LA SALLE STREET.
C H I C A G O .

H IGH

G R A D E
List* u po n

D e n i s o n
BOSTON

&
and

B O N D S

request,

F a r n s w o r t h ,
CLEVELAND.

1,000,000 Assessment Bonds payable in Nov. 1st, 1915.
IS S U E D

IN

R E G IS T E R E D

FORTE

T h i s s t o c k is a l e g a l i n v e s t m e n t f o r t r u s t f u n d s .
C h a p t e r 2 7 4 o f t h e L aw s o f 1 9 0 4 , w h i c h a p p l i e s to th e
s a l e o f B o n d s o r S t o c k o f T h e C ity o f N e w Y o r k , p r o v i d e s
t h a t “ all o r n o n e ’ ’ b i d s c a n n o t b e c o n s i d e r e d b y t h e C o m p ­
t r o l l e r u n l e s s t h e b i d d e r o f f e r i n g t o p u r c h a s e “ all o r n o n e ”
o f the B o n d s or S to c k o f f e r e d f o r sale shall a ls o o f f e r to p u r ­
c h a s e “ all o r a n y p a r t ” t h e r e o f .
Bend bids in a sealed envelope, enclosed In the addressed envelope. A deposit of TWO PER
CENT. OF FAR VALUE MUST ACCOMPANY BID. Such deposit must be In money or certified check
upon a stflvent Hanking Corporation. For fuller information see "City Record,” published U t
Oity Hall. New York.
Consult any Bank or Trust Company, or address
HERM AN

A.

M ETZ,

C o m p tr o lle r C ity o f N j w Y o r k ,

280 B r o a d w a y ,

N e w Y ork .

THE CHRONICLE.

178

[V o l . L x x x n i.

Waycross, Ware County, Ga.— Bonds V oted . — L o c a l r e - II D e n o m i n a t i o n $ 5 0 0 .
D a te J u ly 1 1 905. In terest J a n u a ry
p o r t s s t a t e t h a t t h e p r o p o s i t i o n t o i s s u e t h e $ 5 0 , 0 0 0 s t r e e t - !I a n d J u l y . M a t u r i t y J u l y 1 1 9 2 5 . T h e s e a r e t h e s a m e b o n d s
p a v in g , $ 2 5 ,0 0 0 sch o o l a n d $ 2 5 ,0 0 0 se w e r 5 % 3 0 -y e a r b o n d s a w a r d e d o n A u g . 2 2 la st y e a r to G r a h a m & C o . o f P h ila ­
m e n tio n e d in V . 8 2 , p . 1 5 1 8 , ca rried a t e le ctio n h e ld J u ly 7.
d e lp h ia b u t w h ic h w e re su b se q u e n tly d e clin e d b y t h a t jir m ,
Wellston, Ohio.— B o^ds A uthorized.- — O n J u n e 2 1 a n o r d i ­ o w i n g t o a d e f e c t i n t h e o r d i n a n c e . T h i s d e f e c t h a s s i n c e
n a n c e a u th o riz in g th e issu a n ce of $ 1 ,5 0 0 4 % c o u p o n se w e r b e e n r e m e d ie d b y a n A c t o f th e L e g isla tu re .
Yazoo City, Miss.— B ond S a le. — O n J u l y 0 t h e $ 5 0 , 0 0 0
b o n d s w a s p a sse d b y th e C ity C o u n c il. D e n o m in a tio n $ 5 0 0 .
D a te A u g . 1 1 9 0 6 . In te r e st s e m i-a n n u a l. M a tu r ity $ 5 0 0 5 % 19 4 -5 -y e a r (a v e r a g e ) c o u p o n electric stre e t r a ilw a y
y e a rly fro m A u g . 1 1 9 1 0 to A u g . 1 1 9 1 2 in clu siv e.
b o n d s , a d e sc r ip tio n o f w h ic h w a s g iv e n in V . 8 2 , p . 1 5 1 8 ,
Wellston School District, St. Louis County, Mo.— Bonds w e r e a w a r d e d t o S . A . K e a n o f C h i c a g o a t 1 0 0 . 3 0 a n d b l a n k
n d s. N o o th e r b id s w e re received .
R egistered . — O n J u l y 1 3 $ 1 8 , 0 0 0 4 %
b o n d s w e re registered b o B
ond O fferin g . — 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 7 : 3 0 p . m . ,
b y th e S tate A u d ito r. D e n o m in a tio n $500.
A u g . 1 3 , b y E . J . P o u rsin e , C ity C le rk , fo r $ 2 5 ,0 0 0 5 % c ity West Chester, Chester County, Pa.— B ond E lectio n . — R e ­ h a l l b o n d s .
D e n o m in a tio n s $ 1 0 0 a n d $ 5 0 0 . D a te S ep t. 10
p o r ts sta te th a t th is b o r o u g h w ill v o te J u ly 3 1 o n th e q u e s ­ 1 9 0 6 . In te r e st a n n u a lly in Y a z o o C ity . M a tu r ity $ 1 0 0
tio n o f b o r r o w in g $ 2 5 ,0 0 0 for se w e r im p r o v e m e n ts .
y e a rly o n S e p t. 10 fro m 1 9 0 7 to 1 9 2 5 in clu siv e a n d $ 2 3 ,1 0 0
C ertified c h e c k fo r $ 5 0 0 , p a y a b le to th e C ity
West Seneca Union Free School District No. 6, Erie S e p t . 1 0 1 9 2 6 .
C
l
e
r
k
,
m
u
s
t
a
c
c
o
m p a n y e a c h b id . N o c o n d itio n a l b id s w ill
County, M . Y . — B ond O fferin g . — 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 1 2 m . J u l y 2 3 b y J o h n W i d m e r , P r e s i d e n t B o a r d o f b e c o n s i d e r e d , - a .a , ; ' r y . w . x ' . i ' . :
E d u c a tio n , for th e fo llo w in g b o n d s:
'.Youngstown, Ohio.— B ond S a le. — O n J u l y 1 6 t h e f o l l o w i n g
$ 5 0 ,0 0 0 4% c o u p o n R i d g e R o a d s c h o o l - b u il d i n g b o n d s .
D e n o m in a t i o n $ 2 , 0 0 0 .
b id s w e re re ce iv e d fo r th e six issu es o f 5 % b o n d s d e scrib e d
2 5 .0 0 0 4 % c o u p o n R o l a n d s c h o o l - b u il d i n g b o n d s .
D e n o m in a t i o n $ 1 ,0 0 0 .
in V . 8 2 , p . 1 4 6 1 :
7 .5 0 0 4% c o u p o n A l b r i g h t s c h o o l -s i t e b o n d s .
D e n o m in a t i o n $ 3 0 0 .
2 5 . 0 0 0 4 % c o u p o n A l b r i g h t s c h o o l -b u il d i n g b o n d s .

D e n o m in a t i o n $ 1 ,0 0 0 .

A u th o r ity C h a p te r 5 5 6 , L a w s o f 1 8 9 4 , a n d e le ctio n h e ld
M a y 18 1906. D a te S ep t. 1 1906. In terest sem i-a n n u a lly
a t th e L a c k a w a n n a N a tio n a l B a n k in W e s t S e n e c a . M a ­
tu r ity o n e b o n d o f e a c h issu e y e a rly o n S e p t. 1 fro m 1 9 0 7 to
1 9 3 1 in c lu s iv e . P u r c h a s e r to fu r n is h b la n k b o n d s . O ffic ia l
c ir c u la r s ta te s t h a t th e r e is n o litig a tio n p e n d in g o r t h r e a t ­
e n e d , a n d d efa u lt h a s n e v e r b e e n m a d e o n p rin cip a l or in ­
te re st o f a n y b o n d s o f th e d istrict.
Wilkes-Barre School District, Pa. — B ond S a le . — O n J u l y 1 9
$ 9 8 ,0 0 0 of th e $ 1 0 0 ,0 0 0 4 % 1 2 ^ -y e a r (a v era g e) c o u p o n
s c h o o l - b u i l d i n g b o n d s d e s c r i b e d i n V . 8 3 , p. 1 1 7 , w e r e
a w a rd ed to R u d o lp h K le y b o lte & C o. of N e w Y o r k C ity at
1 0 0 .5 0 — a b a sis of 3 .9 5 % .
Woodbury, N . J.— B on d S a le. — O n J u n e 2 6 $ 2 0 , 5 0 0 4 %
str e e t-im p r o v e m e n t b o n d s w e re a w a rd e d to H o w a r d K .
S tok es of N e w Y o r k C ity a t 101— a b asis of a b o u t 3 .9 2 J ^ % .

N EW LOAN S.
^ 2 0 0 ,0 0 0

School District of Winnipeg
Debentures for Sale.
S e a le d t e n d e r s a d d r e s s e d t o t h e S e c r e t a r y -'T r e a s u r e r
o£ t h e W i n n i p e g P u b l i c S c h o o l B o a r d , a n d m a r k e d
“ T e n d e r f o r S c h o o l D e b e n t u r e s , ’ 1 w ill b e r e c e iv e d u p t o
12 o ’ c l o c k n o o n o n T u e s d a y 2 4 t h o f J u l y , 1 9 0 6 . fo r th e
p u rch a s e o f d e b e n tu re s o f th e S c h o o l D is t r ic t o f W in n i­
p e g N u m b e r O n e , p a y a b le a t t h e e x p i r a t i o n o f t h i r t y f iv e y e a r s , w it h in t e r e s t f r o m t h e fir s t o f A u g u s t , 1 9 0 6 ,
a t th e ra te o f fo u r p e r c e n tu m p e r a n n u m .
P r i n c ip a l a n d i n t e r e s t p a y a b le a t t h e o f fic e o f t h e
W in n ip e g P u b lic S c h o o l B o a rd
o r a t a n y C h a r te r e d
B a n k in W i n n i p e g .
D e liv e r y t o b e m a d e a n d m o n e y t o b e p a id a t W in n peg.
P a y m e n t t o b e m a d e in g o l d o r it s e q u i v a l e n t .
T h e h ig h e s t o r a n y t e n d e r n o t n e c e s s a r ily a c c e p t e d .
A n y i n fo r m a t i o n d e s ir e d m a y b e o b t a i n e d b y a d d r e s s
n g t h e S e c r e t a r y -T r e a s u r e r .
S T E W A R T M U X /V E Y ,
S e c r e t a r y -T r e a s u r e r ,
W in n ip e g P u b lic S c h o o l B o a rd
or
F .C . H U B B A R D ,
C h a ir m a n o f F i n a n c e C o m m i t t e e .

$ 1 1 ,5 9 0

$ 2 9 ,8 5 0

$ 5 ,2 5 0

$ 2 ,1 4 5

W. Raven
Avenue.

Wilson
Avenue.

Warren
Avenue.

Watt
Street.

W e i l, R o t h & C o . - a g l l , 8 4 5 0 0 a S 3 0 .5 4 5 0 0
O tis & H o u g h _______ 1 1 ,8 2 8 8 0
3 0 ,4 6 5 10
N e w F ir s t N a t . B k _ _ 1 1 ,8 0 5 0 0
3 0 ,4 0 5 0 0
H a y d e n . M ille r & C o . 1 1 ,7 9 5 0 0
3 0 ,3 8 0 0 0
L a m p r e e h t B rO S .& C o 1 1 ,7 7 1 5 0
3 0 ,3 2 1 5 0
W . J . H a y e s & S o n s - 1 1 ,7 3 3 0 0
3 0 ,2 1 5 0 0
D e n is o n & F a r n s w ’ t h . __________
3 0 ,3 2 0 0 0

a S u cce ssfu l

b id s .

bB onds

n ot aw arded.

O n ly tw o b id s, b o th o f w h ic h w e re rejected , w e re
r e c e iv e d o n J u ly 11 fo r th e $ 3 5 ,0 0 0 6 % 1 0 -2 0 -y e a r (o p tio n a l)
co u p o n b o n d s offered o n th a t d a y (V . 8 2 , p . 1 5 1 8 ). T h e y
w ere su b m itte d b y E . F . S an gu in otti of Y u m a a n d b y D . W .
H e a r d o f P h o e n ix , b o th o f w h o m offered to ta k e $ 1 0 ,0 0 0 o f
th e b o n d s . T h e s e b o n d s w ill b e re -o ffe re d a n d p ro p o sa ls
w ill b e r e c e iv e d u n til A u g . 3 1 .

Detroit.
New York.
Philadelphia.
MUNICIPAL
AND

PUBLIC SERVICE CO RPO RATIO N

BONDS*
ft, L„ D A Y

h

E R V IN

8c C O M P A N Y ,
BANKERS,

(New York Stock Exchange,
Members
( Philadelphia Stock Exchange.

SSONI&S

FOR

IN V E S T M E N T .
Drexel Building,
Philadelphia,

CO.

85 Congress § tr e e ts

8 Nassau Street,

BOSTON.

NEW YORK.
MEMBERS
AND

IN V E S T M E N T S .

43 Exchange Place,
New York,

BAMfCESRS,

BOSTON

P e rry 5 Coffin & B u rr,
IN V E S T M E N T BONDS,
80 State -Street,

STOCK KXCHAN&JSS.

M U N IC IP A L

S T A rPE, M U N ICIPAL AN It H IG H G B A 0 B
&AELB.OAD SECU RITIES.

AN D

$ 5 ,3 5 5 0 0 ---------------- --------------------------a 5 .3 5 8 15 ---------------- a 3 , 4 7 0 4 0 -------------5 .3 4 8 0 0 a S 2 , 1 8 5 0 0
3 ,4 6 3 0 0 -----------5 ,3 4 5 0 0
2 ,1 4 5 0 0
3 ,4 0 0 0 0
375 00
5 ,3 3 2 5 0
2 ,1 4 5 0 0
3 ,4 0 0 0 0
-----------5 .3 1 5 0 0
2 ,1 7 1 2 5
3 ,4 4 1 5 0
379 50
---------------- ---------------- ---------------------------

O fferin g . —

H. W. NOBLE & COMPANY,

YOKE

6$375

Yuma County (P. O. Yuma), Ariz.— B ids R ejected — B ond

IN V E S T M E N T S .

HEW

S 3 ,4 0 0

E. Woodland Petrie
Avenue. Street.

BOSTON.

Public Service Corporation
A lb ert K leybolte & C o .,
BOKDS.
Mobile City Bonds
409 W alnut Street,
CINCINNATI, O.
E. H. R O L L IN S & S O N S.
Alabama State Bonds
Bearer.

Dealt in by us.

BOSTON .
Chicago.
Sam Francisco,

MacDonald, McCoy & Go,,

W ir e us you r Offering.

4 MB

Full descriptions showing price and income
on application.

Blodget, M erritt & C o ,
BOfHlDS.

s8i La Salle Street* Chicago.

L IS T

ON

APPLICATION.

3EAB0NGQ0D & M A T E R
MUNICIPAL AND PUBLIC SERVICE

BONDS.
CHICAGO,
1st Nat. Bank Bldg,

BOSTON,
80 Stats Street

B O N D S

BANKERS & BEOKEBS

MUNICIPAL AND RAILROAD

T ro w b r id g e 8c N Ive r Co,

M U N I C I P A L

M ACAR TNEY & SCHLEY
Q0RPQRMTS0M

BONDS.

Selected

And other Hio-h-Qrade
investment Securities.

M O B IL E , A L A .

MUMiOIPAL

Carefully

M eresu a tlle l i b r a r y B n Q i & i s ,

CINCINNATI.
w m m

STOCK

BANKERS,
f6 C o n g r e ss Street, Boston.
8 8 NASSAU ST R E E T . NEW Y O R K .

STATE. FIT f & BAXLEOAB BONDS.
Established 1S&3.

CERTIFICATES H . C . Speer & Sons Co.

E n g r a v e d on steel or lithograp h ed , or
p a rtly printed an d p artly lithograp h ed .
B o o k o f 10 0 certificates, steel-p late
border, and seal press, $ 1 5 : cheaper
styles as low as $2 50 for a h ook o f 5 0 .

ALBERT E. KING & CO., HOS Broadway, N.Y.

First Nat. Bank Building, Chicago.

CITY COUNTY
AND TOWNSHIP

BONDS.